Michael Barone at TownHall.Com has an interesting and spot-on analysis of Obama’s new Chief of Staff, Bill Daley.
Daley is not an unknown figure here in the Chicago news market. Daley has always been in positions in the public sector where he’s been an ‘intermediary’ between businesses, unions and Governments. I can only hope new House Speaker John Boehner isn’t taken in by this guy’s line of bullshit.
Under Daley’s watch at JP Morgan Chase, the bank unloaded hundreds of billions of mortgage backed securities to Fannie Mae and Freddie Mac helping cause the downturn in the housing and mortgage industries.
Daley has also been an advocate of NAFTA, helping Boeing for example export manufacturing jobs to China for example.
In short, Daley doesn’t really have any experience creating jobs in the American economy, simply put: he’s a jobs destroyer in a job creator’s clothing.
Excerpting today’s Town Hall column, please click through the link below to read the rest of Michael Barone’s excellent analysis.
"He possesses a deep understanding of how jobs are created and how to grow our economy." That's what Barack Obama said as he announced the appointment of his new chief of staff, William Daley, before a crowd of admiring White House staffers.
It's not hard to understand Obama's reasons for choosing Daley. Businesses are sitting on $1 trillion in cash and refusing to make job-creating investments. They are spooked by the Obama Democrats' vast expansion of the size and scope of government and the prospects of ever more intrusive and expensive regulations being churned out by various federal agencies every day.
Obama hopes that the fact that Daley has held high-level jobs in the private sector will assure them that their fears are unfounded.
But when you take a look at Daley's resume, what you see are positions not in job-creating departments but at the intersection between private firms and governments. He headed a union-owned bank. He was on the board of Fannie Mae. He was a high honcho at the telecom SBC.
Read the rest at TownHall.Com