Daley pick (for chief of staff) could be good sign for banks

[Enrique]

http://blogs.forbes.com/brianwingfield/2011/01/04/daley-pick-could-be-a-good-sign-for-banks/

President Obama is said to be considering picking William Daley, a former Commerce Secretary and executive at JPMorgan Chase, as his next chief of staff. Here’s a smart observation from Brian Gardner, senior VP for Washington research at Keefe, Bruyette & Woods:

Since Mr. Daley works at JP Morgan, a TARP recipient, if he is hired, we think this would be a sign that: 1. ties to TARP banks are no longer toxic in Washington, and 2. Wall Street employees would no longer be persona non grata in Washington. This provides an early signal that the Administration’s rhetoric against large banks and Wall Street may start to be toned down, a positive in our view for banks.

Obama, who returns from his Hawaii vacation today, is also thought to be considering Gene Sperling and Roger Altman as candidates to direct the the National Economic Council, the post just vacated by Larry Summers. Sperling, a Treasury official and former NEC director, has also served as a consultant to Goldman Sachs. Altman, an investment banker who founded Evercore Partners, is a former Deputy Treasury Secretary.

Any of the three men would provide the administration with a blend of policy and real-world business experience. More, from Reuters:

(...)

[SteppingRazor]

1. Incredibly tone deaf move for the administration.

If there's anyone more universally loathed right now than politicians, it's bankers.

[Joanne98]

2. Larry Kudlow was raving about this. "Is Obama a supply-sider?"

[whosinpower]

3. Who in the white house speaks for main street?

The voices of the 1 percent of America is loud enough.

These voices will not talk of concern of the wealth inequality.
Will these voices speak of the 61 percent of Americans polled who WANT the wealthy to pay more taxes to offset the deficit?
I think not.

[somone]

4. Just another sign that they own the White House

[Sheepshank]

5. blah blah blah...yet again.

more fear mongering about stuff that someone says Obama may be considering, espcially on subjects that are a hot button on DU. He may also be considering taking a orange tinged crap tomorrow...but we can't be sure until it actually happens. I'll hold out until the facts are actually logged in rather that running off half cocked, based solely on 3rd hand speculations, thank you very much.