Archive for Sunday, April 5, 2009

During campaign, Obama economic advisers were paid commentators

April 5, 2009


— Some of President Obama’s top economic advisers were paid for their commentaries in 2008 about tax policy, government bailouts of financial institutions, global trade and the economic recession, according to financial disclosure forms made public by the White House late Friday.

Four White House economic aides, including National Economic Council Director Lawrence Summers, received thousands of dollars in payments for newspaper opinion columns or cable television appearances, the documents show.

The officials received income for their commentaries before joining Obama’s administration in January. Yet at the same time that some were advising Obama’s presidential campaign, they were being paid by news organizations, in some cases for commentating on President George W. Bush’s economic policies or advocating for policies that Obama supported on the campaign trail.

Summers did not join the Obama team in an official capacity until after the November election, but he was an influential adviser to the candidate during the race.

A White House aide said that payments to Summers — including more than $2.7 million in speaking fees from dozens of corporations and other groups — predated his work in Obama’s administration or on his transition team.

Others include Jared Bernstein, formerly of the Economic Policy Institute, $70,000 for more than 130 appearances on CNBC; Austan Goolsbee, a University of Chicago economist, paid $2,000 by the New York Times for a column; and Jason Furman, with the Brookings Institution, $7,900 for column work, including for The Washington Post and Los Angeles Times.


jmadison 8 years, 11 months ago

What? No mention of the millions that Summers and other Obama advisers raked in from hedge funds for whom they worked. Both parties are on the take, and the American taxpayers are the rubes supporting the chicanery in Washington.

Godot 8 years, 11 months ago

Watch this, Bill Moyers interviewing William Black, author of "the Best Way to Rob a Bank is to Own One."

Obama is refusing to allow banks to return TARP funds. Why? Because he wants to own the banks. The best way to rob......

Flap Doodle 8 years, 11 months ago

The big money people who put Barry into the White House, with the aid of a compliant media, are looking for payback.

KansasVoter 8 years, 11 months ago

This story doesn't bother me as much as the Pentagon's military analyst program. The democrats can't even begin to compare to how corrupt the republicans are.

jmadison 8 years, 11 months ago

GE which owns NBC, MSNBC, and CNBC, will most likely be receiving moneys from US taxpayers at the behest of Pres. Obama, Nancy Pelosi, Harry Reid, and congress. Take all reports from the major media with a grain of salt, as most of them are on the take from the government.

Godot 8 years, 11 months ago

Fellow citizens of the newly created O'banana Republic of North America, the looting of the Treasury of the former USA has only begun.

Kryptenx 8 years, 11 months ago

LMAO, economists need to make money too. I guess our economic advisers should have been too stupid to get paid to give advice? Newsflash: the people in the top of their fields get paid great money in speaking fees.

Godot 8 years, 11 months ago

These guys are not economists, they are propagandists and conmen.

Godot 8 years, 11 months ago

I refer Defender to PBS, Bill Moyers, and his interview with William Black, dated April 3, 2009.

It is my opinion that people who work for a campaign, and are paid to write pro-candidate news articles without disclosing the relationsihp and the payment, and who then become appointees and staff members of the candidate, are nothing more than propagandists. If those same people give advice in print and to public officials that banks should receive billions of taxpayer dollars, and then take those taxpayer dollars in payment for speeches no doubt geared toward educating those bank employees on how to access the billions of taxpayer dollars, or how to make their lobbying more effective at increasing the size of the bailouts, then they are, indeed conmen, at the very least.

Godot 8 years, 11 months ago

Here is a point of view from an economist who is not syphoning off taxpayer money from bailed out banks via speaking fees and consulting while working for Obama. He reveals Timothy Geithnner's dirty little secret. Hint: it involves Obama's chief financial advisor, Lawrence Summers.

Godot 8 years, 11 months ago

Paul Krugman is nobel prize winning liberal economist who also is not on the Obama dole. He has zeroed in on the problem. I don't agree with his Keynesian solution, but I do respect him for speaking the truth.

Godot 8 years, 11 months ago

And, then there is Joseph Stiglitz.

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