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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Sat, Nov 8 2008, 10:55 am EST<span class="gen"> </span> Post subject: Barack Obama draws on America's economic brains</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Note that our Governor is not there. <br /> <br />======================== <br />Barack Obama draws on America's economic brains <br /> <br />The economic brain trust convened by Barack Obama in Chicago includes two former Treasury Secretaries from the Clinton administration, billionaire Warren Buffett and the chairmen of Google, Xerox and Time Warner. <br /> <br /><img src="http://www.telegraph.co.uk/telegraph/multimedia/archive/01109/obama_meeting_1109988c.jpg" border="0" /> <br /> <br />By Toby Harnden in Washington <br />Last Updated: 7:47PM GMT 07 Nov 2008 <br /> <br />Another member, Larry Summers, President Bill Clinton's last Treasury Secretary, is one of the two favourites to take the same post in the Obama administration. <br /> <br />The other is Timothy Geithner, chairman of the New York Federal Reserve Chairman A former chief economist of the World Bank, Mr Summers, 53, became an undergraduate at the prestigious Massachusetts Institute of Technology at just 16 and at 28 became the youngest ever academic to be given tenure at Harvard, Mr Obama's alter mater. <br /> <br />In 2005, during a rocky spell as Harvard president that ended with his being forced out, Mr Summers wondered aloud whether innate superiority might be the reason men dominated the higher ranks of research science – a notion that led to him being lambasted by feminists. <br /> <br />Another mark against Mr Summers might be that his appointment would add fuel to the charge that the Obama cabinet is something of a Clinton restoration – an outcome Mr Obama explicitly campaigned against when he overcame Hillary Clinton for the democratic nomination. <br /> <br />Mr Geithner, 47, would be a fresher face and was one of the few who sounded the alarm about the lack of federal oversight over complex financial arrangements such as credit derivatives covering subprime mortgage investments. <br /> <br />A career civil servant, he would fit into Mr Obama's promise to foster a non-partisan tone in Washington. Working under Mr Summers in the Clinton administration, he was at the centre of dealing with the Asian financial market meltdown in the 1990s. <br /> <br />He has also worked very closely with Henry Paulson, the current Treasury Secretary, in tackling the current global economic crisis – a role that would help ensure a smooth transfer of stewardship of the economy when the Bush administration ends on January 20th. <br /> <br />Mr Buffet, the billionaire investor and philanthropist, was often cited by Mr Obama on the campaign trail and was even touted by the then candidate as a possible Treasury Secretary. <br /> <br />Paul Volcker, the 6ft 7 ins former chairman of the Federal Reserve, but at 71 might be too old for the Treasury job and has been discouraged by his wife from taking a high-stress role. <br /> <br />Others in the brain trust are Antonio Villaraigosa, the first Latino mayor of Los Angeles. Long beset by rumours about womanising, last year his wife filed for divorce after it was revealed he was having an affair with a Spanish-language television reporter who had been covering his mayoralty. <br /> <br />Robert Reich and Robert Rubin – both Clinton cabinet secretaries – Eric Schmidt, chairman of Google, Xerox chairman Anne Mulcahy and Time Warner chairman Richard Parsons will also take part in the meeting with Mr Obama. <br /> <br /><a href="http://www.telegraph.co.uk/news/newstopics/uselection2008/barackobama/3400863/Barack-Obama-draws-on-Americas-economic-brains.html" target="_blank">http://www.telegraph.co.uk/news/newstopics/uselection2008/barackobama/3400863/Barack-Obama-draws-on-Americas-economic-brains.html</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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