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DrKrbyLuv
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Post subject: Who is Peter Orszag? (Iceland Connection) Posted: 13 Feb 2009, 9:15 am |
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Joined: 08 Nov 2008, 8:21 pm Posts: 248
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Who is Peter Orszag? One of the key players in the Obama administration’s $900 billion economic stimulus package is Obama’s new budget director Peter R. Orszag. Orszag, 40, is the director of the Office of Management and Budget, the arm of the White House responsible for crafting the federal budget and overseeing the effectiveness of federal programs. He worked closely with Rahm Emanuel in the Clinton administration - when the disastrous NAFTA was passed - and was one of the first Obama appointees to be approved.
Oddly, Orszag’s background has received virtually no attention in the media. At this critical moment, however, it would be foolish to ignore the troubling background of Obama’s budget director, which deserves to be looked at very carefully. Orszag, for example, could start by explaining exactly what happened to the Icelandic economy. Orszag was, after all, the founder and president of the economic consultancy firm which advised the Central Bank of Iceland - before it went bankrupt. How did Icelandic banks become so indebted? Ask Peter Orszag.
Orszag is an economist who served six years in the Clinton administration (1993-8) under Robert E. Rubin, the former treasury secretary who recently resigned from his senior position at the woefully mismanaged and nearly bankrupt Citigroup. The fact that Orszag was a protege of the now disgraced Rubin certainly does not bode well for the Obama administration.
In 1998, after serving in the Clinton administration, Orszag co-founded an economic consulting group company with his brother and Joseph Stiglitz called Sebago Associates, where he served as president through 2007. The firm's clients have included the World Bank, the Nordic Council of Ministers, and most notably, the Central Bank of Iceland. The once prosperous economy of Iceland has been devastated by the current economic crisis, which its citizens say was carried out by a gang of financial criminals who followed disastrous policies and advice - provided by Peter Orszag and Company.
Americans need to be vigilant with dangerous "Young Turks" like Peter Orszag and Rahm Emanuel running the Obama White House and the U.S. budget.http://www.bollyn.info/home/articles/po ... ack-obama/
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