Monday, November 10, 2008
Very Early Returns.
Hope and change were the incessantly repeated dual mantras of The Obama Campaign. I want to believe that the President elect will take meaningful and effective strides towards restoring (some of) what has been sundered over these last eight years, however, Mr. Obama's choice of Rahm Emanuel, for example, a former director of Freddie Mac, (appointed by Bill Clinton) to be the new adminstration's Chief of Staff, is far from encouraging. It is equally disheartening that the Democrat's most prominent eradicator of Glass Steagall, Robert Rubin, has been one of Obama's top financial advisors, and, though I don't necessarily expect his appointment, Rubin is said to be on the short list for a return to head the Treasury.
It is axiomatic that birds of a feather flock together, and very few of the names being bandied about for key cabinet positions in the Obama administration are birds of change. Rather, they represent the opposite, birds of a status quo flock that have steered the U.S. financial sphere and now the general economy to ruin.