More White House Economic Advisers to Step Down

by Hugh Collins Nov 23rd 2010 8:12AM
Updated Nov 23rd 2010 8:32AM
President Barack ObamaTwo of President Barack Obama's top economic advisers plan to quit.

White House National Economic Council Deputy Director Diana Farrell and Treasury Department Assistant Secretary for Financial Institutions Michael Barr both plan to leave in the coming weeks, The Wall Street Journal reported.

Barr is expected to return to the University of Michigan Law School. He is leaving his government job for family reasons, a Treasury spokesman said.

Barr was one of the architects of the Dodd-Frank financial reform bill.

Treasury Secretary Timothy Geithner said Barr "fought tirelessly" for financial reform and that "our country is stronger, our financial system more stable, and our families better protected because of his work."

The White House economic team has seen rapid turnover. Budget Director Peter Orszag has already departed and Lawrence Summers, director of the National Economic Council, is due to return to Harvard University next month.

David Axelrod, a senior adviser to the president, is also planning to quit early next year, while former chief of staff Rahm Emmanuel left the White House to run for the position of mayor of Chicago.

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vicbar88

Funny how Dems claim success where there is no evidence of any.

November 24 2010 at 8:15 AM Report abuse rate up rate down Reply
Calcontractor10

They have given the Bull stronger growth hormones and steroids....................

November 24 2010 at 3:36 AM Report abuse rate up rate down Reply
fishd312

I used to think Carter was our worst president...

November 23 2010 at 7:14 PM Report abuse +7 rate up rate down Reply
Toni Spamoni

Oh, yes. Our country is SO much better for the Dodd-Frank deal. Yep, people aren't being foreclosed on, we have plenty of jobs, the new healthcare program isn't costing more money nor hurting seniors on medicare, doctors aren't leaving medicare, the stimuluses have put the country back out in the lead. Yeah, sure we're better off for Obama's financial czars. WHO is better off? Obama, his cronies, and congressmen who don't have to be in that healthcare and who give themselves raises when they want. Yep we are SOOO much better off.

November 23 2010 at 6:37 PM Report abuse +8 rate up rate down Reply
neckereba

What is Tim Geithner smoking? Our financial system more stable? Have you seen the list of banks that have been closed due to "the financial system being more stable?" The FDIC is perpetuating more unnecessary foreclosures as a result of the assessed valuation of properties being out of line with the mortgage amounts that were granted that many people who have been making their payments on time for years are now being required by these lenders to come up with what can amount to hundreds of thousands of $$$ to prevent the foreclosure of their properties. Who does the average person/small business turn to for help? The Bank? Good luck with that. These Banks have gotten so big through mergers that you can't find someone to speak to you let alone make a dceision.

November 23 2010 at 4:40 PM Report abuse +11 rate up rate down Reply
gorjing

Maybe they lost the rose colored glasses that Obama gave them.

November 23 2010 at 3:20 PM Report abuse +15 rate up rate down Reply
luvtopleaze

99% of Obama's appointees who were supposed to guide this country never had ANY private business experience. How can anyone who has never has to worry about a budget or an income statement or a balance sheet guide the direction of a nation whose success is based upon a strong private business environment ? Politicians are not BUSINESSMEN ! They are SPENDERS with NO budgets !

November 23 2010 at 3:12 PM Report abuse +14 rate up rate down Reply
FAFIAN and Assoc

It is comforting to know that their replacements can't do any worse.

November 23 2010 at 2:41 PM Report abuse +9 rate up rate down Reply
1 reply to FAFIAN and Assoc's comment
vicbar88

Don't be so sure about that! We thought that Osamabama couldn't be any worse too and look where that got us.

November 24 2010 at 8:13 AM Report abuse +1 rate up rate down Reply
hjs31

I have emailed the Whit House several times in the past years. Suggestion: do not deduct any FEDERAL TAX from any pay check for SIX MONTHS and see how this would stimulate the economy. If you are a citizen getting a legal paycheck then you would benefit from this act.

November 23 2010 at 2:37 PM Report abuse rate up rate down Reply
David

They might as well quit, they haven't done anything. While they are at it, lets get Bernanke and Geitner out of there also. Remember 149 banks have failed so far this year!

November 23 2010 at 2:30 PM Report abuse +7 rate up rate down Reply