Wednesday, December 01, 2010

Orszag to Citi? Hey Ted Strickland, Who are the Wall Street Insiders Now?

All during the campaign for Ohio governor, now defeated incumbent and head of the Ohio shadow government Ted Strickland talked about John Kasich as a Wall Street insider and in the pocket of big banks and business. Funny, but the facts show that Dems are the big gainers from financial donations from Wall Street as well as those who jump into positions with banks and financial firms. The latest evidence comes from the reveal that Peter Orszag, a former Obama adviser, is joining CitiBank:
Citigroup Inc., recovering from its $45 billion bailout in 2008, is in advanced talks to hire former White House Budget Director Peter Orszag, people with knowledge of the matter said.

Before joining the White House as director of the Office of Management and Budget, Orszag was director of the Congressional Budget Office and a senior fellow at the Brookings Institution.

He previously served as economic adviser to President Bill Clinton and was a staff member of Clinton’s Council of Economic Advisers.

Orszag’s tenure at the Clinton White House overlapped with Citigroup’s former executive-committee chairman, Robert Rubin, who served as Treasury secretary from 1995 to 1999. In 2006, when Rubin, 72, helped to found an economic research group at the Brookings Institution called the Hamilton Project, Orszag was named its first director. Obama, then a senator from Illinois, spoke at the project’s unveiling.

Rubin, who in late 2007 helped oversee the search that led to the appointment of Vikram Pandit as chief executive officer, retired from Citigroup last year.

So Ted, who are the Wall Street Insiders and patsies now? Geithner and others came from Goldman Sachs and Lehman, and now Orszag is going to Citibank in the shoes of Robert Rubin. Sounds like you should look in your own house for corruption, Teddyboy.