Sunday, January 9, 2011

Elizabeth Warren Goes On Early Attack Against Bill Daley?

Simon Johnson, who appears to be Elizabeth Warren's personal hit man, is out with a hit piece on Bill Daley. While Johnson does some free lance hit work, this sure looks like contract work being done for Warren.

Which means Warren, who now has a General's wife covering her back, sees Daley as a major threat and is not wasting anytime attempting to neutralize him. But, wow, attempting to neutralize a chief of staff, out of the gate, is not something recommended even if you are wearing a bullet proof vest. 

This is going to be an epic battle.

Of course, there is not much good to say about Daley or Warren, so this gun fight should be watched just for its entertainment value.

Here's Johnson doing what he does best, the big hit:
Bill Daley, President Obama’s newly appointed chief of staff, is an experienced business executive. By all accounts, he is decisive, well-organized, and a skilled negotiator. His appointment, combined with other elements of the White House reshuffle, provides insight into how the president understands our economy – and what is likely to happen over the next couple of years. This is a serious problem...

Top bankers, including Bill Daley, have pulled off a complete snow job – including since the crisis broke in fall 2008.  They have put forward their special interests while claiming to represent the general interest...

Bill Daley now controls how information is presented to and decisions are made by the president.  Daley’s former boss, Jamie Dimon, is the most dangerous banker in America – presumably he now gets even greater access to the Oval Office.  Daley is on the record as opposing strong consumer protection for financial products; Elizabeth Warren faces an even steeper uphill battle.  Important regulatory appointments, such as the succession to Sheila Bair at the FDIC, are less likely to go to sensible people...

Let’s be honest. With the appointment of Bill Daley, the big banks have won completely this round of boom-bust-bailout. The risk inherent to our financial system is now higher than it was in the early/mid-2000s. We are set up for another illusory financial expansion and another debilitating crisis.

Bill Daley will get it done.
In Daley, Johnson has been given a huge fat target and he has hit dead on. On the other hand, Warren is not the answer. She just has macro manipulative plans that favor her left-wing supporters and union muscle. With Warren in charge, it will be an anti-bank power center, but still a power center, heavily favoring money flow into union banks. What needs to be done is to have the power centers themselves dismantled, not put in control of the Daley's or Warren's of the world. Banks need to fend in the free market, where they are not bailed out as Daley would continue to have it or over-regulated as Warren would have it. There are no good guys in this battle. It is a battle of evil versus evil, fighting over control of banking on this tiny planet. It's Baba Yaga versus  the Penguin.

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