(Ive shared about the wonderful White House defeat re. Obamas pick for No. 3 in the Treasury quite a bit today. Anyone paying attention over the years recognizes that Obamas picks for Top Drawer cabinet posts have been among the worst in the nations history, to include Busheney: when it comes to the Tyranny of the Top 0.01% - esp. on Wall Street - Geithner and Holder are *Poster Boys* for not merely Enablers of egregious corruption, but actual *Purveyors*. — THATS why Warrens victory is such a hopeful indication that there are those in our government who are EQUALLY Sick of the ROT allowing the Kleptocrats to so effectively F*ck Us ALL. Obamas finally received the Kick In The Cojones from his Own Party. What next? Stay Tuned. New Thread on the subject. Two of the best Peoples Champions against Wall Street have put forth their observations and analyses. — I saw Yves first, so Im sharing her observations first.): As readers may recall, Elizabeth Warren blasted the Administration’s nomination of a Lazard executive and senior mergers & acquisitions banker Antonio Weiss to the number three Treasury post, assistant secretary for domestic finance (LINK). Warren’s grounds for objecting to Weiss were straightforward: his experience was no fit for the requirements of his proposed Treasury role. — On top of that, he had been involved in and therefore profited from acquisitions called inversions that Treasury opposes because they reduce the taxes paid by the acquirer, which uses the acquired company to move its headquarters to a lower-tax jurisdiction. (And even THAT didnt keep POTUS - the Peoples president - from Continuing to Fight on Weiss behalf.) Today Weiss withdrew as a candidate for the Treasury position... Having someone with that background as a well placed insider made it abundantly clear how serious the Administration was about cleaning up crisis-related abuses. Having Antonio Weiss, even in a lesser role at Treasury, will, as it did with Lee Sachs, inhibit any investigation into areas that relate to the work he did at Lazard. That’s a feature, not a bug. — Having Antonio Weiss in Treasury in any capacity sends a powerful signal that Obama remains deeply committed to advancing the pet needs of major financial firms. Ive shared quite a bit today about how Warren - and Other Democrats as well - are talking seriously (yes, talking) about putting Main Street ahead of Wall Street, and Finally putting the PEOPLEs needs first. (At least Warren for one has several Genuine Accomplishments backing her talk under her belt.) — Needless to say, alas, that message never made it to President Obamas White House.
Posted on: Wed, 14 Jan 2015 02:34:33 +0000