( Chicago Tribune photo by Zbigniew Bzdak )
by Frank James
We're all waiting for President-elect Obama's first post-election press conference this afternoon at 2:30 pm Eastern Time.
Before that press conference, which will be held at the Hilton Hotel in Chicago, Obama was in a meeting with his Transition Economic Advisory Board. Here's the list of those meeting on Obama's economic board of advisers.
Those nostalgic for the Clinton Administration will get that itch scratched with this list, with names like William Daley, Robert Rubin, Robert Reich, Lawrence Summers and Laura Tyson around the table.
Of course, the Clinton Administration oversaw the best economy in the post-World War II period, thanks in part to the Internet bubble. Still, it's hard to argue with their results.
David Bonior (Member House of Representatives 1977-2003)
Warren Buffett (Chairman and CEO, Berkshire Hathaway)-will participate via speakerphone
Roel Campos (former SEC Commissioner)
William Daley (Chairman of the Midwest, JP Morgan Chase; Former Secretary, U.S. Dept of Commerce, 1997-2000)
William Donaldson (Former Chairman of the SEC 2003-2005)
Roger Ferguson (President and CEO, TIAA-CREF and former Vice Chairman of the Board of Governors of the Federal Reserve)
Jennifer Granholm (Governor, State of Michigan)
Anne Mulcahy (Chairman and CEO, Xerox)
Richard Parsons (Chairman of the Board, Time Warner)
Penny Pritzker (CEO, Classic Residence by Hyatt)
Robert Reich (University of California, Berkeley; Former Secretary, U.S. Dept of Labor, 1993-1997)
Robert Rubin (Chairman and Director of the Executive Committee, Citigroup; Former Secretary, U.S. Dept of Treasury, 1995-1999)
Eric Schmidt (Chairman and CEO, Google)
Lawrence Summers (Harvard University; Managing Director, D.E. Shaw; Former Secretary, U.S. Dept of Treasury, 1999-2001)
Laura Tyson (Haas School of Business, University of California, Berkeley; Former Chairman, National Economic Council, 1995-1996; Former Chairman, President's Council of Economic Advisors, 1993-1995)
Antonio Villaraigosa (Mayor, City of Los Angeles)
Paul Volcker (Former Chairman, U.S. Federal Reserve 1979-1987)
Comments
Wasn't Obama's slogan, "Change you can believe in"?
Shouldn't it be "Retreads we've seen before"?
Posted by: Change in 2012 | November 7, 2008 1:57 PM
Clinton plus Chicago City Hall-
Two together may be able to solve lots of problems-
Posted by: Inky | November 7, 2008 3:47 PM
Wasn't Obama's slogan, "Change you can believe in"?
Shouldn't it be "Retreads we've seen before"?
Posted by: Change in 2012 | November 7, 2008 1:57 PM
Um, Clinton created the biggest and best economy in over 60 years, the lowest unemployment rate in over 30 years, and eliminated the deficit. Why wouldnt Obama get some of his people to help him??
Would you prefer he hire some of Bush's lackys? I didnt think so.
Posted by: Scot S. Blakeley | November 7, 2008 3:59 PM
Ref-
Wasn't Obama's slogan, "Change you can believe in"?
Shouldn't it be "Retreads we've seen before"?
Posted by: Change in 2012 | November 7, 2008 1:57 PM
Obam started changing his tone Election Night-
He is now strenching the CHANGE
Posted by: Inky | November 7, 2008 4:00 PM
Scot, don't tell me that you actually believe that "presidents" (Clinton, Bush, or otherwise) "create" economies!
Presidents don't. Politicians don't. Communist dictators don't. People do.
Posted by: Change in 2012 | November 7, 2008 4:56 PM
Bonior - Political hack from the state with the worst economy in the nation. Future Sec of Labor
Daley - Chicago hack and Chairman of a large financial institution - you know you libs just love him.
Jennifer Granholm - Governor of thw worst economy in the nation.
Richard Parsons - CEO Time Warner - part of the Obama communication group.
Penny Pritzker - on the BOD of Superior bank until it went under in 2001.
This like asking a coach of the Detroit Lions what it is like to win the Super Bowl - another Michigan failure.
Posted by: Terry | November 7, 2008 6:11 PM
Better to have people who know how to effect change, than simply changing to new people who don't. I certainly don't want Sarah Palin taking over the economy... or anything else, including my wardrobe.
Posted by: mort | November 7, 2008 6:20 PM
Love the sour grapes.
I see change I can believe in.... the guy running the meeting is Obama, not Bush or McCain.
Posted by: rupert | November 7, 2008 6:27 PM
yeah, Granholm really knows how to effect change.
She's affected so much change in Michigan that taxes are up, the state is bleeding jobs and people have been leaving in droves.
And no one "runs" the economy. Not even the Obamessiah can do that. But many of you will continue to believe he can. Well at least in this country we are have the absolute right to believe whatever. Even if we're wrong.
Posted by: Whatever | November 7, 2008 11:14 PM
Just how was labor represented in this group? Looks like more of the same old, same old. The wealthy and connected still running the show.
Posted by: A.B. Renton | November 8, 2008 12:37 AM
Scot--beginning with 'Uh' doesn't make you authoritative, just sarcastic.
On a more serious note, it is important to differentiate between BILL Clinton and the potential HILLARY Clinton approach to the economy. Hillary was hopping mad behind the scenes about Bill's chopping of the safety net for poor people. Had Bill not signed the Glass Steigel act, we would not have sen the resultant pain after the economy crashed--without a safety net.
Posted by: Let's be real | November 8, 2008 6:06 AM
"Um, Clinton created the biggest and best economy in over 60 years, the lowest unemployment rate in over 30 years, and eliminated the deficit."
Clinton ended with a deficit. Wise up, sir.
"Love the sour grapes"
You'll especially love the higher taxes and double digit unemployment rate he's bound to give us.
Posted by: Jason | November 8, 2008 12:33 PM
AB - Look at Robert Reichhhh and David Bonior for your union thuggery.
Posted by: Terry | November 8, 2008 2:46 PM
Jason, Bush inherited a huge surplus from the Clinton administration! What history books are you reading?
And "lets Be Real' what exactly is your point?
And 'Change 2012, if Presidents dont create a better economy and only people do, tell me, whats your excuse for the failing Bush policies and failing economy right now? Are you saying that its ALL Joe the Plumbers fault?
You guys are the sour grapes reaching for lame excuses to discredit our future Presidents ambitions.
Posted by: Scot S. Blakeley | November 8, 2008 3:08 PM
Criticising the president I donated money and time to help elect is EXPECTED. It's a DEMOCRACY still, last I checked-despite the fact that Obama voted to extend domestic spying on you and me.
There is NOTHING discrediting by PUSHING my president elect away from the right.
Posted by: You''re either a citizen or a sheep | November 8, 2008 5:30 PM
Hey! You guys know folks in high places. How about passing this along to someone that can take a look at this idea. They are putting the money in all the wrong places. Housing got us into this mess and housing can get us out of it. The people to implement this plan are already in place. Mortgage companies, loan officers, title companies, attorneys, Realtors and home builders are ready to go back to work now. Building bridges and roads will take too much time. The people to support the housing turn around are in place already and can go to work next week.
Here is the fix:
I am a Realtor in Northeastern NC and I know this plan will work to bring back the housing market. The money is all going in the wrong direction.Housing got us into this mess and housing can bring us out of it.
The Plan:
Have the government provide mortgage money @ 4% for a 30 year fixed mortgages for anyone with reasonable credit. Allow existing home owners to refinance at this rate and first time home buyers to borrow money at this rate from the federal government. No second homes or investment property allowed- primary residences only. Allow these loans to be processed by the thousands of mortgage loan offices that are already in place and currently doing nothing today. This gets money flowing to them immediately in the way of processing fees. It will stop the foreclosures and allow communities to start to grow again. Cities, counties and states will start to see revenues increase from building permits and real estate transfer taxes. Property values will be restored. Money spent on advertising homes will increase and start to flow back into the economy.
This will have an immediate positive effect on the economy. Realtors will start to make and spend money again, the glut of homes for sale will be reduced by first time home buyers and a floor will be put under the real estate market. This will allow the banks the ability to value their assets again.Home builders will start building again and hire more workers that are ready to go back to work now. New home owners will start to buy all the stuff a new home owner needs and the economy will turn around almost on a dime.
This plan will not cost the taxpayers any money and they will earn 4% on the investment over time. It is so simple that no one is talking about this. Bailing out the housing market is the fastest way to turn this economy around.This plan will be a win- win for all involved.
Please give this some attention.
Carroll Romney, Jr. ABR/Realtor
Hertford, NC 27944
Posted by: Carroll Romney, Jr. | November 26, 2008 2:46 PM