William K. Black: Jacob Lew: Another Brick in the Wall Street on the Potomac

http://www.informationclearinghouse.info/article33590.htm

A job in politics is no longer a back-door to a lucrative job in banking -- it's a red carpet. The revolving door keeps spinning.

The obvious aspects of this pattern include: (1) Obama prefers to have Wall Street guys run finance (despite coming to power because Wall Street blew up the world), (2) the revolving door under Obama that connects Wall Street and the White House has been super-charged, and (3) even very short stints in Wall Street have made Obama's finance advisers wealthy. The obvious is vitally important, and it is largely ignored by the most prominent media. The obvious aspects help explain why Obama's economic policies have been incoherent, ineptly explained, inequitable, and often slavishly pro-Wall Street at the expense of our integrity and citizens.

The unobvious aspects of the pattern compound these problems. First, Obama likes to surround himself with failures.

Obama has put failed anti-regulators in positions where they can best undermine the reregulatory effort that is essential to reduce the risk and harm of future crises.