Saturday, we heard from the man who repealed the Glass-Steagall act (which was instrumental in the collapse of our nation’s and indeed most the world’s nations economies), say that his advice to Citibank Inc. (where he is a senior counselor) was not significant in the collapse of that institution. A free market Kool-Aid drinker to the last, Rubin appears to be standing at the ready, perfectly placed to go down (bravely?) with the sinking ship (even though he’s the one who’s been caught red-handed putting the holes in the bottom of the vessel)! Not only did he defend his own machinations, but he went out of his way to defend his old buddy, (Ayn Rand Cult inner circle initiate) and eternal friend of the out of control derivative Alan Greenspan. FYI, Bobby, Ayn Rand is none to popular in most Democratic Party circles (at least the ones that I know of, save the Bill Clinton and Barack Obama presidential administrations)? Why Bob Rubin is, or at least seems to be (so popular and respected) in the last two Democratic administrations boggles the mind (well either that or it’s clearer than ever that we have one party rule in Washington, a party that seems to continue unabated for Wall Street and America’s most ethically challenged financial institutions, at the expense of all others, speaking of Ayn Rand, wasn’t she the one who talked about the virtues of selfishness? all of this seems a lot like her doing).
Barack you were elected because Americans were sick of tax cuts for big business and the wealthy, being promoted as the sole solution for nearly each and every economic dilemma (no matter what the shape or size of them). You were elected to get America working again (and not at minimum wage or poverty wage jobs, the kind Rubin and his cohorts have excelled at creating). It’s going to take more than real estate bubbles and the invention of the internet (of which we’re not going to see any similar occurrence of any time soon) to get us out of this one. Therefore, why not appoint some individuals who aren’t the precise people who hollowed out the industrial sector of this nation’s economy? Why not find some economists who specialize at something other than sinking vessels?
You gave a reprieve to Joe Lieberman, Barack, but now it’s time for much harsher treatment with Rubin, Larry Summers and Timothy Geithner. It’s time to say thanks, but no thanks to these fellows for all of their industrious, but ill-fated efforts. Just tell them, hey it’s nothing personal fellas, it’s simply time to say adieu, sorry, but you guys had your chances, only NAFTA, deregulation, the rise of the kleptocracy in Russia, the housing bubble, and nearly all of you fellows’ economic handy work has been nearly completely, nothing but abysmal failure. Why don’t you fellows sit this one out (just this one single solitary time), and let some other more capable individuals who recognize there’s an economy outside of lower Manhattan, give it a good old, serious college try! We know you guys are on the bench if we need you (and you’re still in the Rolodex), but we don’t think we’re going to be needing you for now or right on into the near (or perhaps even distantly) foreseeable future.