RMF....And here is something that could be worrisome to some people...it is unfortunate that IMO the majority of voters don't look into these things but vote on personality and media hype.
October 18th, 2008
Obama and the Derivatives Merchants
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By: Glen Ford - Black Agenda Report
Barack Obama's star shines brighter than ever (whose wouldn't, in comparison to John McCain?) despite his intimate association with "the very same individuals who brought about the current catastrophe." Former Clinton Treasury Secretaries Robert Rubin and Lawrence Summers, now top advisors to Obama, "labored successfully to safeguard ?derivatives,' the exotic ?ticking time bomb' financial instruments, from federal regulation" nearly a decade ago. "Be assured that this crew will deliver another catastrophe from their positions of influence, if Obama is elected."
How bizarre it is to observe Obama playing the people's crusader in the morning and colluding with his top economic advisers, Robert Rubin and Lawrence Summers, in the afternoon. In February 1999, Rubin and Summers flanked Fed Chief Alan Greenspan on the cover of Time magazine, heralded as, "The Committee to Save the World." Summers was then Secretary of the Treasury for Bill Clinton, having succeeded his mentor, Rubin, in that office. Together with Greenspan, the trio had in the previous year labored successfully to safeguard "derivatives," the exotic "ticking time bomb" financial instruments, from federal regulation. Less than a decade later, unregulated derivatives would expand - like the Mother of All Bubbles - to notional values 10 to 15 times greater than the world's total economic output. The global order would be brought to its knees, in a financial conflagration that has just begun to show its full dimensions and destructive potential. (See New York Times, October 9, "Taking Hard New Look at a Greenspan Legacy,")
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