Thursday, April 03, 2008

Obama and Clinton Economic Advisors

Alec Baldwin (yeah him) wrote in the Huffington Post A Vote for Hillary Is a Vote for the Death of the Dollar. He starts with some stuff about women democrats wanting a woman nominee, yeah whatever. He then says "My friend Max Keiser, who reports for both BBC and Al Jazeera on global financial issues, has a valuable take on what a Clinton versus Obama economic plan might look like." I'm not sure I know enough to agree or not, but these seem like simple facts:

"Obama has Paul Volcker as economic adviser -- he mopped up the stagflation of the '70s with 'tough love' of higher interest rates. Hillary has Robert Rubin -- who demolished the last vestiges of Glass-Steagel which opened up the flood gates of securitizing loans and the current subprime (and now prime) credit crisis. The current plan by Rubin's Goldman Sachs buddies Hank Paulson, (and Ben Bernanke), and their UK counterparts -- is to simply repackage all this bad debt and resell it again.. (making banks another fee); and hope that the problem will go away..."

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