Altman Replacing Summers?

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By Barry Ritholtz - November 17th, 2010, 6:39AM

Summers was a disaster. He torpedoed real reform, and kept the Obama White House on the same path as the Bush White House when it came to bailouts.

Bloomberg: Roger Altman, founder of Evercore Partners Inc. and a former deputy treasury secretary, is a leading candidate to replace Lawrence Summers as director of President Barack Obama’s National Economic Council, according to two people familiar with the matter.

WSJ: Roger Altman, a Wall Street executive who was deputy Treasury secretary early in the Clinton administration, visited the White House on Tuesday to discuss leading the president’s National Economic Council. The administration’s interest in Mr. Altman is a sign that the White House is still pursuing a top corporate executive to succeed economist Lawrence Summers.

I’d like to learn more bout Altman. Is he a creature of Wall Street, or can he be an objective policy maker?

See also:
Altman Is Said to Be a Leading Candidate to Replace Summers
Hans Nichols
Bloomberg, Nov. 172010
http://noir.bloomberg.com/apps/news?pid=20601108&sid=agEenQ7PgVMg

Altman Is a Candidate to Succeed White House’s Summers
ELIZABETH WILLIAMSON
WSJ, NOVEMBER 17, 2010
http://online.wsj.com/article/SB10001424052748704312504575618980662463928.html

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

16 Responses to “Altman Replacing Summers?”

  1. Petey Wheatstraw Says:

    The position calls for a formerly nameless, faceless, mid-level bureaucrat, paid mid-level bureaucrat wages, to oversee this “Council.” That will never happen. Obama is much more the corporatist enabler than Bush. Who’dathunkit?

  2. ToNYC Says:

    Obama or Bush are no different as both belief the Corporation story over the sustainable Human narrative. Whether one wears a fist or a heart on their sleeve no matter. Capitalism is a useful force of Humandynamics as profound as Thermodynamics that cannot be regulated by Corporations or their myrmidons

  3. ronin Says:

    from his Wiki page: “In 2009, Altman was on the list of Bilderberg conference attendees in Greece.”

    He’s another Corporatist that wants to create a “new world order” with the major corporations at the top of the food chain why the rest of us slave for them at the bottom.

    It’s real simple, if you attend one of those treasonous meetings, you are anti-competition, anti-small business, anti-liberty, and anti-democracy.

    Attend a meeting with government leaders, military, bureaucrats, and other CEOs of major corporations without the media present and you are clearly doing something against humanity, democracy and civilization.

  4. b_thunder Says:

    Is it a good or a bad thing if a wall-streeter becomes economic adviser to the Pres? How much pro-wall street than Summers can he be?

    Obama will keep trying to please The Street, while Buffett just laughed out loud on CNBC when asked why he didn’t include Obama in his “thank you, Government” article.
    But this won’t happen. The Street knows that they’ll mill this spineless administration as much as they can, throw it to the curb, and start funding the election of GOP which, without a doubt, will pay them back and then some.

  5. VennData Says:

    Altman is a radical, black, Mandarin-speaking Muslim who will further Obama’s agenda to socialize America and sell it off bit-by-bit to the Chinese…

    http://www.cnbc.com/id/15840232?play=1&video=1645160637

    After he gave Chrylser to the Italians!

    http://blogs.wsj.com/deals/2009/01/21/mean-street-chryslers-italian-job-on-the-american-people/

    …which was financed by those Islamo sobering wealth funds!

    http://seekingalpha.com/article/100614-colonialism-in-reverse-libya-bails-out-italy-s-unicredit-spa

    …who got even more money from Obama’s AIG bailout that funded terrorism at home and abroad…

    http://newsbusters.org/blogs/jeff-poor/2009/03/19/fox-biz-happy-hour-co-host-aig-bailout-funds-terrorism

    …but who originally got their petro-dollars (Russian for pelosi-dollars) from Democrats decision not to drill oil so they could protect the lifestyle of Asian carp…

    http://www.chicagotribune.com/news/local/ct-met-asian-carp-study-1114-20101113,0,4857586.story

    … which their “open borders” strategy filled our heartland’s waterways, sewer systems, hospitals and schools with… and where? …in Illinois! yes, THAT Illinois… Obama’s “alleged” home – if you don’t believe the Kenyan’s themselves!

    http://www.thepostemail.com/2010/04/11/kenyan-parliament-claims-obama-born-in-kenya/

    …the same Kenyan …and Germanic and Sino-Soviet Central bankers complaining about the Fed in the main street media now!

    http://online.wsj.com/article/SB20001424052748703514904575602820114533804.html

    …who took your job and have forced the brave Republicans (swept into office on a wave of anti-Liberal euthanasia) to choose: do we save American? …or do we save a few measly make-work “jobs” which will actually kill the spirit of the American worker? Well?

    http://www.bloomberg.com/news/2010-11-16/corker-favors-ending-federal-reserve-dual-mandate-to-concentrate-on-prices.html

    …which is why Obama wants him: Altman’s ALREADY SELLING AMERICAN OUT!

    http://www.infowars.com/roger-altman-bilderbergs-man-to-get-china-hooked-on-america/

    Here’s his linked in for God’s sake! His handle is China! China Altman!!!

    http://www.linkedin.com/pub/china-altman/9/305/6a7

  6. Petey Wheatstraw Says:

    The GOP has no foil against which to set itself in this mess. The last thing they want is to be holding the reins when wheels come all of the way off (interesting note: although the 2012 election cycle has officially started, no nationally recognized, “big name” member of the GOP has announced intentions to run for Pres.).

    Vote a straight GOP ticket and force the issue. Let’s see how these pillars of business and virtue handle the golem they created.

  7. Mark E Hoffer Says:

    Keyword: http://www.thefreedictionary.com/Myrmidon

    see def. #2, for add’l clarity..
    ~~

    Roger Altman http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=Roger+Altman more of the same..
    ~~

    44 is nothing more than Bush/Cheney III

    for a cinematic version
    http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=The+Obama+Deception

  8. Mark E Hoffer Says:

    edited version:

    Keyword: http://www.thefreedictionary.com/Myrmidon

    see def. #2, for add’l clarity..
    ~~

    Roger Altman http://search.yippy.com/search?input-form=clusty-simple&v%3Asources=webplus&v%3Aproject=clusty&query=Roger+Altman more of the same..
    ~~

    44 is nothing more than Bush/Cheney III

  9. grimreaper Says:

    Here’s something on Altman, from The Daily Bail:

    http://dailybail.com/home/goldman-alum-roger-altman-steals-46-million-from-taxpayers-l.html

    Just puttin’ it out there. If The Big Picture does nothing else, it presents different viewpoints and encourages us to think for ourselves.

  10. curbyourrisk Says:

    Was he ever employed by Goldman Sachs? Was he ever involved with Goldman Sachs in any kind of business relationship? IF SO…THEN HE SHOULD NOT BE ALLOWED TO TAKE ANY KIND OF OFFICE…ELECTED OR NOT ELECTED.

  11. diogeron Says:

    “The GOP has no foil against which to set itself in this mess. The last thing they want is to be holding the reins when wheels come all of the way off…”

    Been there. Done that.

  12. LLouis Says:

    What will the new director put forward ? TARP II , receiverships, permanent nationalizations of banks …

    http://www.alternet.org/economy/148817/bank_of_america_is_in_deep_trouble%2C_and_there_may_be_financial_disaster_on_the_horizon/

    Will he put forward more strategies of soft defaults ?

  13. Calvin Jones and the 13th Apostle Says:

    According to Wikipedia, Altman holds an MBA from Milton Friedman Univ. Ugh!!!

    BR:
    Look at Altman’s history. He’s the ultimate creature of Wall Street. Lehman Brothers. Blackstone. You name it.

  14. AHodge Says:

    the former

  15. D.C. Insider to Geithner: Watch Your Back | The Big Picture Says:

    [...] response to our earlier mention of Altman, a regular BP reader and current DC insider sends along the following: “Roger has [...]

  16. oracle3 Says:

    I think he’s a movie director. He made “The Player” and some Nashville thingy. This makes him ideal for new head of whatever he’s going to be the head of.

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