Matt Taibbi & Bill Black: Obama's New Treasury Secretary a 'Failure of Epic Proportions'

This is what I have been saying since Obama's first Inauguration day, he selects people with loyalty to Wall Street because they hold values that work in Wall Street's favor and fails to understand the value of workers and the need for legislation to protect workers. Wall Streeters have a unique way of thinking and sometimes it seems pure social Darwinism. We need people in Executive and Legislative and Judicial banches of government who think of the common person and what is good for the nation. USA stands for more than profits, it stands for freedom and justice, which are not happening now.
It reminds me of the family that throws their pregnant daughter out of their lives when she needs support more than ever. Yes, the daughter and the nation need to be responsible for their actions, however, families and nations empower its members, not discard them.

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I was shocked when I read about this appointment at Alternet this morning. Obama is such a disappointment.

He served as chief operating officer of Citigroup’s Alternative Investments unit, a group that bet on the housing market to collapse. Lew has also long pushed for the deregulation of Wall Street.

... Senator Bernie Sanders of Vermont criticized Lew’s nomination, saying, quote, "We don’t need a treasury secretary who thinks that Wall Street deregulation was not responsible for the financial crisis."

WILLIAM BLACK: Well, on financial matters, Jack Lew has been a failure of pretty epic proportions, and he gets promoted precisely because he is willing to be a failure and is so useful to Wall Street interests.



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