Washington Babylon — December 15, 2009, 9:45 am

Calling It In: The banks and Obama

From the New York Times:

President Obama didn’t exactly look thrilled as he stared at the Polycom speakerphone in front of him. “Well, I appreciate you guys calling in,” he began the meeting at the White House with Wall Street’s top brass on Monday. He was, of course, referring to the three conspicuously absent attendees who were being piped in by telephone: Lloyd C. Blankfein, the chief executive of Goldman Sachs; John J. Mack, chairman of Morgan Stanley; and Richard D. Parsons, chairman of Citigroup.

Their excuse? “Inclement weather,” according to the White House. More precisely, fog delayed flights into Reagan National Airport. (In the “no good deed goes unpunished” category, the absent bankers were at least self-aware enough to try to fly commercial.) That awkward moment on speakerphone in the White House, for better or worse, spoke volumes about how the balance of power between Wall Street and Washington has shifted again, back in Wall Street’s favor…. Those who attended the meeting — Jamie Dimon of JPMorgan flew down on a private jet and didn’t take any heat for it — seemed to talk a good game, but even President Obama acknowledged they might have been just toying with him. “The problem is there’s a big gap between what I’m hearing here in the White House and the activities of lobbyists on behalf of these institutions or associations of which they’re a member up on Capitol Hill,” he said after the discussion.

He’s joking, right? Can someone that smart really be that clueless?

Share
Single Page

More from Ken Silverstein:

Commentary November 17, 2015, 6:41 pm

Shaky Foundations

The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends.

From the November 2013 issue

Dirty South

The foul legacy of Louisiana oil

Perspective October 23, 2013, 8:00 am

On Brining and Dining

How pro-oil Louisiana politicians have shaped American environmental policy

Get access to 165 years of
Harper’s for only $45.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

March 2017

City of Gilt

= Subscribers only.
Sign in here.
Subscribe here.

Tyranny of the Minority

= Subscribers only.
Sign in here.
Subscribe here.

Texas is the Future

= Subscribers only.
Sign in here.
Subscribe here.

Family Values

= Subscribers only.
Sign in here.
Subscribe here.

Itchy Nose

= Subscribers only.
Sign in here.
Subscribe here.

Black Like Who?

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
Texas is the Future·

= Subscribers only.
Sign in here.
Subscribe here.

I first heard the name Barack Obama in the spring of 2004, while visiting my mother in Chicago. As we sat around the kitchen table early one spring morning, I noticed a handsome studio portrait among the pictures, lists, cards, and other totems of family life fastened to the refrigerator door. “Who’s the guy with the ears?” I asked, assuming he was some distant relative or family friend I didn’t know or else had forgotten. “Barack Obama,” she answered with a broad smile. “He’s running for Senate, but he’s going to be the first black president.”

Illustration (detail) by John Ritter
Post
The Forty-Fifth President·

= Subscribers only.
Sign in here.
Subscribe here.

I first heard the name Barack Obama in the spring of 2004, while visiting my mother in Chicago. As we sat around the kitchen table early one spring morning, I noticed a handsome studio portrait among the pictures, lists, cards, and other totems of family life fastened to the refrigerator door. “Who’s the guy with the ears?” I asked, assuming he was some distant relative or family friend I didn’t know or else had forgotten. “Barack Obama,” she answered with a broad smile. “He’s running for Senate, but he’s going to be the first black president.”

Photograph (detail) by Philip Montgomery
Article
Itchy Nose·

= Subscribers only.
Sign in here.
Subscribe here.

I first heard the name Barack Obama in the spring of 2004, while visiting my mother in Chicago. As we sat around the kitchen table early one spring morning, I noticed a handsome studio portrait among the pictures, lists, cards, and other totems of family life fastened to the refrigerator door. “Who’s the guy with the ears?” I asked, assuming he was some distant relative or family friend I didn’t know or else had forgotten. “Barack Obama,” she answered with a broad smile. “He’s running for Senate, but he’s going to be the first black president.”

Artwork (detail) © The Kazuto Tatsuta/Kodansha Ltd
Article
A Matter of Life·

= Subscribers only.
Sign in here.
Subscribe here.

I first heard the name Barack Obama in the spring of 2004, while visiting my mother in Chicago. As we sat around the kitchen table early one spring morning, I noticed a handsome studio portrait among the pictures, lists, cards, and other totems of family life fastened to the refrigerator door. “Who’s the guy with the ears?” I asked, assuming he was some distant relative or family friend I didn’t know or else had forgotten. “Barack Obama,” she answered with a broad smile. “He’s running for Senate, but he’s going to be the first black president.”

Photograph (detail) by Edwin Tse
Article
Black Like Who?·

= Subscribers only.
Sign in here.
Subscribe here.

I first heard the name Barack Obama in the spring of 2004, while visiting my mother in Chicago. As we sat around the kitchen table early one spring morning, I noticed a handsome studio portrait among the pictures, lists, cards, and other totems of family life fastened to the refrigerator door. “Who’s the guy with the ears?” I asked, assuming he was some distant relative or family friend I didn’t know or else had forgotten. “Barack Obama,” she answered with a broad smile. “He’s running for Senate, but he’s going to be the first black president.”

Photograph © Jon Lowenstein/NOOR

Number of Supreme Court justices in 1984 who voted against legalizing the recording of TV broadcasts by VCR:

4

A Spanish design student created a speech-recognition pillow into which the restive confide their worries, which are then printed out in the morning.

Greece evacuated 72,000 people from the town of Thessaloniki while an undetonated World War II–era bomb was excavated from beneath a gas station.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Who Goes Nazi?

= Subscribers only.
Sign in here.
Subscribe here.

By

"It is an interesting and somewhat macabre parlor game to play at a large gathering of one’s acquaintances: to speculate who in a showdown would go Nazi. By now, I think I know. I have gone through the experience many times—in Germany, in Austria, and in France. I have come to know the types: the born Nazis, the Nazis whom democracy itself has created, the certain-to-be fellow-travelers. And I also know those who never, under any conceivable circumstances, would become Nazis."

Subscribe Today