Obama Skeds Meeting with Economic Advisers
EmailTomorrow afternoon President-Elect Barack Obama and Vice President-Elect Joe Biden will meet with a group of a dozen experts on the economy — their Transition Economic Advisory Board.
The members of the group include:
• a former member of the Bush administration (former Securities and Exchange Commissioner William Donaldson);
• business leaders (Warren Buffett via speakerphone, XEROX CEO Anne Mulcahy, Time Warner chairman of the board Richard Parsons, Google CEO Eric Schmidt, Residence by Hyatt CEO Penny Pritzker);
• state and local public officials who can share information about what an economic slowdown does to their governments’ abilities to operate effectively (Michigan Gov. Jennifer Granholm, Los Angeles Mayor Antonio Villaraigosa); and
• various economic experts ranging from liberal (former Labor Secretary Robert Reich, former Rep. David Bonior, D-Mich.) to more moderate (former Treasury Secretary Robert Rubin, former Treasury Secretary Larry Summers, former Commerce Secretary Bill Daley, former chairman of the President’s Council of Economic Advisors Laura Tyson, former SEC Commissioner Roel Campos, former Vice Chairman of the Board of Governors of the Federal Reserve Roger Ferguson, and former Federal Reserve Chairman Paul Volcker.
- jpt
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Looks interesting. Who’s missing here … would like to see George Soros and Greenspan there as well…just to see how they would shake things up. Even though Greenspan has been there before I would still listen to his voice as his wisdom should be heard. And Soros because I think he is incredibly smart. And T Boone Pickens.
Posted by: i am so I can! | November 6, 2008, 3:43 pm 3:43 pm
Barack has already spent more time and attention on the economy, since elected, than Bush did in 8 years.
Posted by: Dino | November 6, 2008, 4:00 pm 4:00 pm
Sounds like a fairly diverse group of individuals with valuable insight and solutions. Great way to move forward!
Posted by: EM | November 6, 2008, 4:00 pm 4:00 pm
Obama WIns!!!! markets down 1000points as investors show “NO CONFIDENCE” in Obama
Posted by: like it or not here I come | November 6, 2008, 4:11 pm 4:11 pm
Obama WIns!!!! markets down 1000points as investors show “NO CONFIDENCE” in Obama
Posted by: like it or not here I come | Nov 6, 2008 4:11:28 PM
The market has been up and down the past few weeks. I don’t think that it is because of Obama being elected. Besides Cowboy Bush is still in charge.
Posted by: Jwench | November 6, 2008, 4:35 pm 4:35 pm
Obama is not responsible for this horrible economy, but one thing you can be assured of he is going to turn it around. He has assymbled a team of experts so I would give him a couple of day to organize before bashing him ;)
Posted by: Lou | November 6, 2008, 4:44 pm 4:44 pm
Plenty of pressure and unrealistic expectations on Obama almost immediately. That first presser will be immensely important.
Posted by: matt | November 6, 2008, 4:45 pm 4:45 pm
we are lucky that Mccain / Ms. “Africa’s a continent?” didn’t get elected…
can you imagine how big the drop WOULD have been
eee gads.
Posted by: dl | November 6, 2008, 4:48 pm 4:48 pm
Our Greatest Leader is undoubtedly building great confidence in our society to achieve the noble goal of equal society. His election has already made Americans 10% more equalized in wealth in the past two days, shedding the wealth of the filthy Rich by 10% in Stockholdings.
Posted by: tano | November 6, 2008, 4:50 pm 4:50 pm
Tano, are you from another world or something. The fall of the stock market has killed me and thousands of other middle class citizens. If you do not understand that don’t post.
Posted by: William | November 6, 2008, 4:56 pm 4:56 pm
Obama WIns!!!! markets down 1000points as investors show “NO CONFIDENCE” in Obama
—————————–
This does not have anything to do with Obama being elected. Specialist have said for 2 months now that we have seen nothing yet. You think today is bad just wait, they said the next 3 to 6 months are going to kick us hard, but hay what doesn’t kill us will only make us stronger as a country.
Posted by: becky (the real one) | November 6, 2008, 4:57 pm 4:57 pm
William,
So did I. But, there is a greater picture for the common good of the society. If we are all equally rich or poor, there won’t be a poor class of 95% Americans and a rich class of 5% filthy Americans who have imposed up on us such an unfair disadvantage. What can be more effective than tanking the stock market to equalize our wealth? Think about it, if the Dow goes to 0, there won’t be a rich Buffet – he will be one of us.
Long Live our Greatest Leader.
Posted by: tano | November 6, 2008, 5:00 pm 5:00 pm
like it or not here I come
Bush is still president for 75 days…
Posted by: MM | November 6, 2008, 5:08 pm 5:08 pm
Jennifer Granholm?
All she can do is blame Bush.
Is Obama going to ask Penny Pritzker about the Subprime Mortgage crisis?
Posted by: MayBee | November 6, 2008, 5:13 pm 5:13 pm
long live our latest leader, you are correct but my guess as a % of wealth you and I lost more than the ultra rich. Two many loopholes. Also the ultra poor will not benefit at all except in higher prices when the companies still have to make earning estimates regardless of the share value.
Posted by: William | November 6, 2008, 5:33 pm 5:33 pm
There has been a lot of pressure to keep Wall Street stable until the elections.
If you were a Republican CEO… donating millions to McCain… And you knew that he needed to change the subject from the economy to the spectre of communism in order to win, you might do everything in your power to hold the market steady until the election.
That’s what they did. Now that they election has passed… the markets are behaving somewhat rationally again.
It’s not really all that surprising.
Posted by: blip | November 6, 2008, 5:42 pm 5:42 pm
Impeach Obama?
He’s not even President yet.
He hasn’t committed a crime.
The constitution does not give anyone authority to impeach a president because the economy took a dive (if it did, Bush would have been impeached by now).
Keep an eye on the “Impeach Obama” lunatics. They put party before country. They want revenge against Obama. And they do not care about right or wrong in their pursuit of vengeance.
It’s starting now… and hopefully there are only a few of these whackos out there. But if they ever gain any steam, they will try to destroy Barack Obama with no concern for America or its people.
Posted by: Blip | November 6, 2008, 5:49 pm 5:49 pm
The Impeach Obama crowd despises democracy, because it doesn’t always honor their limited and elitist vision of what America should be.
These same people made up lies about Obama out of thin air before the election….
And since we rejected their lies, they have grown even more angry. Now they talk about fabricating a crime, accusing him, and prosecuting him. Knowing that such acts of slander are wicked at best and criminal at worst, they are undaunted in their vendetta against the man that America respects and admires.
Instead of embracing the new President with an open mind… instead of pledging to help America where they can… they have decided that our democracy is a fraud, and that they are entitled to circumvent it at their whim.
Watch out for these ones. They are only getting started. Look at what they are saying now… so you are not surprised when they surface in a year or two with accusations against the President. They will create some story… and they will go after Obama with excessive zeal.
Their goal is to take Obama out of the White House. They know this already. Once they are committed to this deed, it is only a matter of time that they will invent a crime.
Posted by: blip | November 6, 2008, 6:00 pm 6:00 pm
What do you mean impeach Obama? For what? As usual you republicans don’t think before you speak. The Repubs said this impeachment garbage right after Clinton was elected in 1992. I find it ironic since the Republican party has a felon elected to the Senate…how about that Stevens from Alaska. So before you go spouting off about impeachment take a good long look at your party members in Congess..a bunch of whinning, crybabies who are never accountable for anything as they always try to blame it on the other party. In my opinion,it was the Republicans that caused our financial crisis when in 1999 (under a Republican controlled congress) that Phil Gramm (R-TX) rammed thru the dismantalling of the Glass-Steagall Act (this is the act that had regulations on brokage firms such as Fannie Mae & Freddie Mac). The deregulation let the greed run rampant. The markets are down because of the high umemployment figures that were released at the beginning of the week not because Obama was elected.
I have never met so many mean-spirited, narrow-mided, bigoted, Un-Christian like people in my life as seems to prevelant in the Republican Party. Your guy had his opportunity for eight years and screwed it up.
Posted by: I've had it | November 6, 2008, 6:36 pm 6:36 pm
Bush nor Obama are having a impact on the market as such, earnings drive the market, along with foreign markets. If any of us feel our individual sales or purchases on the market make any difference we are a little naive. The institutional investors and corporation investors turn the market based on results, future prospects and world issues. Results are poor and the future does not look good for the short term so from my standpoint I do not expect to see a big upward swing in the market for some time. Up and down like a seesaw.
Posted by: William | November 6, 2008, 7:18 pm 7:18 pm
Arent’ Bush and Cheney and a few others going to jail soon – or was it Argentina.
By the way, you’ll remember Cheney decided to postpone receiving a $40,000,000 payout bonus from Halliburton because he was running for public office (Vice President) . . .
I guess he can go pick that up now.
Posted by: pefros | November 6, 2008, 8:07 pm 8:07 pm
Always check with the BBB, Best Brains in the Business.
Posted by: shockolit | November 6, 2008, 8:47 pm 8:47 pm
oh sorry, that was “a $20 million retirement package paid to him by Halliburton after only five years of employment” . ..
Posted by: pefros | November 6, 2008, 9:56 pm 9:56 pm
First, I think Obama has picked the best brains in the country for economic advice. Secondly, Obama isn’t “increasing” taxes on the wealthy, he is “cutting” the “tax” cut the Bush gave. Capitol gains taxes and income taxes will be the same for the 250,000.00 bracket just as they were under Regan and Clinton.
Posted by: SUSIE | November 6, 2008, 11:20 pm 11:20 pm
This is the first transition mistake Obama has made – not who is on the advisory board, but how many. Somebody needs to tell him quickly that the optimum number for a group of this nature is about 7 people. Quantity does not equal quality.
Before he goes much farther, Obama would be well-advised to select an advisor well-trained in management science to get the most mileage out of his administration.
Posted by: Steve | November 7, 2008, 12:38 pm 12:38 pm
Best brains in the country???!!!
Robert Reich?!
David Bonior?!
I hope you are joking.
Posted by: Yes we can. But should we? | November 7, 2008, 2:22 pm 2:22 pm
The story says “members of the group INCLUDE” those four. It does not say that’s gonna be all there is.
Posted by: Rev. Ike | November 7, 2008, 6:22 pm 6:22 pm
REICH: …”I am concerned, as I’m sure many of you are, that these jobs not simply go to high-skilled people who are already professionals or to white male construction workers…I have nothing against white male construction workers, I’m just saying there are other people who have needs as well.”
Posted by: AJ Soch | January 26, 2009, 12:03 am 12:03 am
You say,
Obama, has commited no crimes, what about putting America down before our enemies? That is a crime and it borders on treason. The change Obama wants, is to take our Freedoms and move us into a communistic government and that is also a crime and treason in the highest degree. Like that stupid woman Pelosi, should have been tried for treason. Wake up you stupid people before we loose all our freedoms. You know Capitalism is FREEDOM and Communist is bondage, is this the change you want? No Obama must be impeached, the sooner the better. ( Hank Williams Jr. said these words the other day. Obama, I will keep my freedom, my guns and my money and you Obama can keep your change.) If I’m closed minded, then so be it, but I would rather be closed minded then be opened to communism,homosexual,same sex marriages,XXX movies,atheism… All these are step into bring down America. I will fight to keep my freedoms.. Impeach Obama now…
Posted by: Joseph Conrow | April 21, 2009, 11:20 am 11:20 am