2012-09-05 "Socialist? Not so much" letter by Nick Jaffe of Sunnyvale to the editor of "San Francisco Chronicle"
The writer of "Enough of Reich" (Letters, Sept. 4) thinks that President Obama surrounding himself with socialist thinking economists like columnist Robert Reich is ludicrous. Obama's economic team has consisted of the following Wall Street darlings: Ben Bernanke as Chairman of the Federal Reserve, Timothy Geithner as secretary of treasury and Lawrence Summers as director of White House National Council on Economics to serve in his administration.
Summers during the Clinton administration advocated elimination of the Glass-Steagall Act of 1933. Bernanke served as chairman of the President's Economic Council during the Bush administration and was being groomed by conservatives to follow Greenspan as chairman of the Fed. Geithner worked for Kissinger Associates, a right-wing consulting organization, was courted by Citibank to be its chairman and held high-level positions in Democratic and Republican administrations. All were against eliminating bonuses to the AIG executives who created credit default swaps while AIG was being bailed out over losses created by those products.