Barack Obama named Clinton’s Treasury Secretary Larry Summers as his top economic adviser at the White House as head of the National Economic Council.

Obama described Summers as “one of the great economic minds of our time” who has “earned a global reputation for being able to cut to the heart of the most complex and novel policy challenges.” Link.

Larry Summers is one of the people most responsible for the failure of the banking system. He was a strong advocate of scrapping Glass-Steagall. He did this under the encouragement of Former President Bill Clinton who received large contributions from Wall Street. Repeal of this regulatory act led to the repeal of more banking regulations and the spiral into the crisis we are now in. He has named a flaming liberal, Melody Barnes, as director of the White House Domestic Policy Council. These people will be working closely with Barney Frank, Maxine Waters and other Congressional democrats who are culpable in the economic crisis we face today. This is very much like putting the inmates in charge of the asylum.

“Lotta Democratic posturing based on bullshit, is what’s happening.”

McCain had spent the day trying to get those Republican deal breakers in the House to come around. The deal came apart in the meeting with Bush. McCain playing tail end charlie without a House deal to bring to the table. Ergo your lad was nearly mute.

That is the leadership you can expect, dumbass.

Fuck the horse you rode in on as well. (Please, God, make it a mare)

And yet CNN is not talking about it on the air, weird!

CNN effectively work for Obama.

Dodd & Frank said the deal was “done” amongst Democrats.

They never even consulted with the House Republicans.

Lotta Democratic posturing based on bullshit, is what’s happening.

FranK did run a male whore house out of his DC home for awhile.

Que?

http://www.msnbc.msn.com/id/26875530/?GT1=43001

it needs to go viral

The best way to do this what I understand is to download the clip and then upload it as a new clip. But I don’t have the technology to do that.

BOTH sides are corrupt

Yep. Corruption doesn’t worry about party lines. Never has. They’re a clique unto themselves.

I am sitting in Europe

Where in Europe?

Good to see you in Europe. The Euro that Voodo Economics created is taking bites out of your ass as big as a garbage skip. Live and learn. So, how’s the old SEP?

Now to what your cherry-picked quotes were meant to obscure.

Barney Frank and Chuck Schumer were in the House in 1994. Chris Dodd was in the Senate in 1994. Their Congress passed the Home Ownership and Equity Protection Act of 1994 which banned the creative financing that just nuked the American financial system. Doubtless this could have been done much earlier since it reflected the experience we had in California with creative financing as early as 1984. It’s just that you East Coast folks are a little slow on the uptake.

Allen Greenspan, despite the usual Delphic utterings about predatory lending, found it to his liking to ignore HOEPA, opining that the market was smarter than he was. His underlings felt it wise to imitate their boss’s example. Now we have real bargains in the Florida, Arizona and Vegas markets. The invisible hand just copped a feel.

The very next year after HOEPA was passed your Voodo Economics colleagues staged the Republican Revolution which gave us such economic landmarks as The Defense of Marriage Act. No doubt about those priorities. Country first.