Archive for the ‘paul volcker’ Category

meet the economic advisors for the new u.s. president's administration

Saturday, November 8th, 2008

obama’s economic advisers consist of congressman david bonior, former fed chairman paul volcker, former treasury secretary larry summers, time warner chairman richard parsons, fomer labour secretary robert reich, former treasury secretary robert rubin, former SEC commissioner roel campos, mayor of los angeles antonia villaraigosa, michigan governor jennifer granholm, warren buffett, former congressman david bonior, former fed vice-chair roger ferguson, and google ceo eric schmidt. while some may be obsessing about the lack of semi-colons in this incomplete list. let’s take a look at some of the people.

antonio villariaigosa, mayor of los angeles, who graduated from an uncredited law school and failed the california bar exam. according to the l.a. times, he quit trying after four attempts.

paul volcker, former chairman of the federal reserve, was initially appointed by jimmy carter. that may not sound encouraging. but he’s credite with having tamed stagflation. and was reappointed by ronald reagan in 1983 and replaced by alan greenspan in 1987. you can watch an interview with volcker on charlie rose. an article from the new york times published in 1987, at the close of his tenure states that his legacy is that “…he freed the economy from its worst predicament since the great depression.” his reviews are somewhat mixed given that some believe his tight control of the money supply made the recession during the early 80s a lot worse.

governor jennifer granholm, the chief executive of the state of michigan, is originally from canda. she presides over a state with the highest unemployment rate in the u.s. in 2005, according to the wall street journal, she proposed to raise taxes on insurance companies, banks and thousands of small businesses that private studies said would have cost up to 20,000 jobs (obviously her canadian roots were showing). but her plan was killed by the legislature.