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Re: SilverSurfer post# 91747

Monday, 02/08/2010 11:51:53 AM

Monday, February 08, 2010 11:51:53 AM

Post# of 576207
Re: advise is not what Soros is about imho. He is possibly the most obvious practioner of market manipulation in recent history. I don't believe Obama is unaware of that, nor did he even need Soros involvment so it is suspicious. Summers is one of the architects of the banking mess we are in and Geithner will have to answer a lot more questions about his decision to Bail AIG at 100 cents on the dollar.

All good points, except that none of them are real objections to Obama having these people close to him. The only objection would be if Obama was actually letting them set policy, or proven that they are influencing his choice of policy.

Obama has been a proven practicianer of, "Keep your friends close, and your enemies closer." You've already seen Geithner run through the roller several times in front of Congress. There will be more hearings as well. I think Soros and Summers will also have to answer for their involvement, but it could conceivably be a bad move if Obama were naive enough to think he could take tightly wound insiders, and put their heads on the chopping block so easily.

I think that's why he keeps them around, because getting rid of them would only invite the wrath of the banking lobby, and Obama needs to balance the forces of opposition in a politically savvy manner.

In public, Obama has been clear that we need to get rid of "Too big to fail", and need to put the safety net back in place that can wind down companies without tanking the financial foundation of the country. That's what banking reform is all about, and Obama "gets it". This is his year to get that legislation done, but again it comes back to working with Congress, since Obama just can't do it by executive order....

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