Sunday, October 16, 2016

Tom Eley — Citigroup chose Obama’s 2008 cabinet, WikiLeaks document reveals

 One month before the presidential election of 2008, the giant Wall Street bank Citigroup submitted to the Obama campaign a list of its preferred candidates for cabinet positions in an Obama administration. This list corresponds almost exactly to the eventual composition of Barack Obama’s cabinet.
The memorandum, revealed by WikiLeaks in a recent document release from the email account of John Podesta, who currently serves as Hillary Clinton’s campaign chair, was written by Michael Froman, who was then an executive with Citigroup and currently serves as US trade representative. The email is dated Oct. 6, 2008 and bears the subject line “Lists.” It went to Podesta a month before he was named chairman of President-Elect Obama’s transition team.
The email was sent at the height of the financial meltdown that erupted after the bankruptcy of Lehman Brothers on September 15. Even as Citigroup and its Wall Street counterparts were dragging the US and world economy into its deepest crisis since the 1930s, they remained, as the email shows, the real power behind the façade of American democracy and its electoral process.
Froman’s list proved remarkably prescient. As it proposed, Robert Gates, a Bush holdover, became secretary of Defense; Eric Holder became attorney general; Janet Napolitano, secretary of Homeland Security; Rahm Emanuel, White House chief of staff; Susan Rice, United Nations ambassador; Arne Duncan, secretary of Education; Kathleen Sebelius, secretary of Health and Human Services; Peter Orszag, head of the Office of Management and Budget; Eric Shinseki, secretary of Veterans Affairs; and Melody Barnes, chief of the Domestic Policy Council.
For the highly sensitive position of secretary of the Treasury, three possibilities were presented: Robert Rubin and Rubin’s close disciples Lawrence Summers and Timothy Geithner. Obama chose Geithner, then president of the Federal Reserve Bank of New York….
The memorandum, revealed by WikiLeaks in a recent document release from the email account of John Podesta, who currently serves as Hillary Clinton’s campaign chair, was written by Michael Froman, who was then an executive with Citigroup and currently serves as US trade representative. The email is dated Oct. 6, 2008 and bears the subject line “Lists.” It went to Podesta a month before he was named chairman of President-Elect Obama’s transition team.
The email was sent at the height of the financial meltdown that erupted after the bankruptcy of Lehman Brothers on September 15. Even as Citigroup and its Wall Street counterparts were dragging the US and world economy into its deepest crisis since the 1930s, they remained, as the email shows, the real power behind the façade of American democracy and its electoral process.
Froman’s list proved remarkably prescient. As it proposed, Robert Gates, a Bush holdover, became secretary of Defense; Eric Holder became attorney general; Janet Napolitano, secretary of Homeland Security; Rahm Emanuel, White House chief of staff; Susan Rice, United Nations ambassador; Arne Duncan, secretary of Education; Kathleen Sebelius, secretary of Health and Human Services; Peter Orszag, head of the Office of Management and Budget; Eric Shinseki, secretary of Veterans Affairs; and Melody Barnes, chief of the Domestic Policy Council.
For the highly sensitive position of secretary of the Treasury, three possibilities were presented: Robert Rubin and Rubin’s close disciples Lawrence Summers and Timothy Geithner. Obama chose Geithner, then president of the Federal Reserve Bank of New York….
But look over there, Donald Trump just gropped someone else.

Recalls Bill Clinton and Robert Rubin. The Democratic establishment has been in Wall Street's pocket since then.
Tom Eley

Also

Provides more details.

Zero Hedge
"The Most Important WikiLeak" - How Wall Street Built The Obama Cabinet
Tyler Durden

1 comment:

Andrew Anderson said...

Oh well, that's what happens when banks are privileged by government - they soon own it.