(1 pm. – promoted by DDadmin)
Things I Couldn’t Make Up If I Tried, continued:
William Daley, an executive with JP Morgan Chase in Chicago, is under consideration to replace Rahm Emanuel, who is running for Mayor of Chicago, as President Obama’s Chief of Staff.
Emanuel hopes to succeed outgoing Mayor Richard M. Daley, the brother of William Daley. Like Emanuel, Daley would be a choice with strong ties to the president’s hometown of Chicago.
The decision comes at a critical point of turnover for the Obama administration, as it pivots toward the back half of its first term, and looks toward re-election in 2012.
Getting to know William Daley:
In 1993, he served as special counsel to the President on issues relating to the passage of the North American Free Trade Agreement (NAFTA). In 1997, Daley became Secretary of Commerce in the second administration of President Bill Clinton, and he remained at that post until July 2000, when he became chairman of Vice President Al Gore’s presidential campaign.
In December 2001, he was appointed President of SBC Communications Inc. to help reform the company’s image. In May 2004, Daley was made Midwest Chairman of J.P. Morgan Chase and Bank One Corp. to oversee post-merger operations from Chicago. Daley currently serves on the Boards of Directors of Boeing, Merck & Co., Boston Properties, Inc., and Loyola University Chicago. He also sits on the Council on Foreign Relations. http://www.cfr.org/
Oh, look, JP Morgan Chase has got a new gig going, called “impact investment.” They want to create positive social and environmental outcomes beyond financial returns.
Impact investments are typically made in private markets by providing debt or equity to mission-driven businesses. Impact investing has gained traction among a wide range of investors, including large-scale financial institutions, pension funds, family offices, private wealth managers, foundations, individuals, commercial banks, and development finance institutions.
After analyzing selected segments of five sectors – affordable urban housing, rural access to clean water, maternal health, primary education, and microfinance – serving the population at the “base of the economic pyramid,” the authors estimate a potential investment opportunity between $400 billion and $1 trillion with potential profits between $183 billion and $667 billion in the next decade for just these segments of the impact investing market.
see Nov 29 2010 press release, Impact Investing Emerges as a Distinct Asset Class
The next round of bank harvests-
Building cheap apartment rentals for ex homeowners, public water privatization, women’s health care not covered because of the Propagation Police (Thanks a lot, Stupak), charter schools ….
Clinton, NAFTA, Chicago, JP Morgan, Boeing, Merck, Council of Foreign Relations… Impeachment, Outsourcing, Wall Street, Defense Contractors, Drugs, more War with Pakistan … what’s not to love with William Daley ?
edit update: Catch this memo from opensecrets.com: Confidential JP Morgan Chase Memo Predicts Congressional ‘Gridlock’
“Many expect the next two years may be heavy on rhetoric but light on legislative achievements,” states the 11-page memo, which is authored by the bank’s “government relations” department, another term for the lobbying arm of the company. “The 112th Congress could be remembered as a gridlocked one without any landmark legislation.”
The memo, marked “confidential JPMC Internal Only,” discusses the nation’s economic challenges — high unemployment, national and state budget shortfalls and the fall-out from the housing crisis — and deciphers what the midterm election means for the company and its clients on both a national and statewide level.
A spokesperson for the company confirmed the “leaked” (cough) document’s authenticity.
JP Morgan’s spent at least $5.8 million lobbying last year, and the top 3 Dem recipients were Sen. Kirsten Gillibrand, Blanche Lincoln (“there will be no Public Option” Blanche) and former Rep. Scott Murphy (NY) who lost re election, along with Blanche Lincoln. http://www.opensecrets.org/org…