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Election '08

Uh oh, Obama asks Antonio Villaraigosa for Economic Advice

By LA Weekly, Friday, Nov. 7 2008 @ 10:47AM
Comments (9)
Categories:

By Tibby Rothman

Many Southern Californians were mystified by this news from the Wall Street Journal and NBC's Firstread blog:

The often stumbling Mayor Antonio Villaraigosa, whose city budget deficit has hit a historic high and who has based his economic plan in Los Angeles almost entirely on a single industry — development, emphasizing massive housing complexes, which left L.A. bad off when the housing bubble collapsed — was chosen by President-elect Barack Obama to be on an elite, 17-member economic advice team, including Warren Buffett, that is meeting Obama in Chicago today.

Rumors flew through City Hall that the "all-about-me" Villaraigosa must have worked even more than 16 hours per day to wangle a spot, much as he did when he lobbied hard to get a seat right behind Bill Clinton at the Democratic National Convention in Denver so that each time the national networks and cable TV cameras flitted to Clinton's face, viewers also saw the grinning Mayor of Los Angeles.

Here's the list of Barack Obama economic advisors:

-David Bonior (Member House of Representatives 1977-2003)
-Warren Buffett (Chairman and CEO, Berkshire Hathaway)-will participate via speakerphone
-Roel Campos (former SEC Commissioner)
-William Daley (Chairman of the Midwest, JP Morgan Chase; Former Secretary, U.S. Dept of Commerce, 1997-2000)
-William Donaldson (Former Chairman of the SEC 2003-2005)
-Roger Ferguson (President and CEO, TIAA-CREF and former Vice Chairman of the Board of Governors of the Federal Reserve)
-Jennifer Granholm (Governor, State of Michigan)
-Anne Mulcahy (Chairman and CEO, Xerox)
-Richard Parsons (Chairman of the Board, Time Warner)
-Penny Pritzker (CEO, Classic Residence by Hyatt)
-Robert Reich (University of California, Berkeley; Former Secretary, U.S. Dept of Labor, 1993-1997)
-Robert Rubin (Chairman and Director of the Executive Committee, Citigroup; Former Secretary, U.S. Dept of Treasury, 1995-1999)
-Eric Schmidt (Chairman and CEO, Google)
-Lawrence Summers (Harvard University; Managing Director, D.E. Shaw; Former Secretary, U.S. Dept of Treasury, 1999-2001)
-Laura Tyson (Haas School of Business, University of California, Berkeley; Former Chairman, National Economic Council, 1995-1996; Former Chairman, President’s Council of Economic Advisors, 1993-1995)
-Antonio Villaraigosa (Mayor, City of Los Angeles)
-Paul Volcker (Former Chairman, U.S. Federal Reserve 1979-1987)

As mayor, the light-on-policy Villaraigosa has exhibited little interest in economic policy or initiatives. Long before the real estate market tanked, he was getting hit by City Hall insiders for ignoring areas like biotech that are being avidly pursued in cities like Seattle.

UPDATE at 11:49 a.m.: Rick Caruso will not challenge Villaraigosa for mayor next year.

Tags:

16-hour days, all about me mayor, antonio villaraigosa, Barack Obama, bill clinton, biotech, democratic national convention, economy, housing bubble, paul volcker, rick caruso, robert reich, warren buffett
Comments (9) Write Comment
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More About:

  • Antonio Villaraigosa
  • Barack Obama
  • Bill Marriott
  • U.S. Politics
  • Politics

Comments (9)

Pete says:

So a guy whose only real accomplishment in life has been to get voters to vote for him is now on par with Paul Volcker as an authority on economics?

Posted On: Friday, Nov. 7 2008 @ 2:38PM
Susan says:

Villaraigosa was the only progressive in the room. I like the Mayor and I'm glad that Los Angeles was represented in the meeting.

Posted On: Friday, Nov. 7 2008 @ 3:07PM
Brett says:

Villaraigosa would have to actually have political thoughts to be deemed a "progressive." This is clearly a bone thrown to him for stumping for the Latino vote across the country (instead of actually doing his part to run the City of Los Angeles, a job he's never displayed the slightest interest in or proclivity for doing. I imagine, in the real world, that the other 16 and Obama will ask Antonioi's opinion, listen, and then say, "Okay - that's what we SHOULDN'T do...."

Posted On: Friday, Nov. 7 2008 @ 3:29PM
Jim says:

These people ar too smart to not realize what is going on here...They will ignor him and have a good laugh if he speaks.

Posted On: Friday, Nov. 7 2008 @ 5:30PM
Dot says:

Obama must be including Villaraigosa because of L.A.'s horrendous financial problems, and not because he sees the mayor as any sort of role model on economics. Seriously, what would Villarigosa have to offer, lessons on how to fiddle while Rome burns?

Posted On: Saturday, Nov. 8 2008 @ 10:10AM
Layla says:

If O is paying back a political debt -- fine, because that's what Tony V is really good for. I'd like to think L.A. would be represented by someone who had actually done something important for the city. Financial advice? Hah!

Posted On: Monday, Nov. 10 2008 @ 6:38AM
sam says:

wow, shocking that someone as inept at enacting real policy or making changes is considered a leading authority on economics by our president elect. tony has amazing ability to get himself in high places for someone who has no real accomplishments.

Posted On: Monday, Nov. 10 2008 @ 5:47PM
Robert, L.A. says:

They don't know that much about Tony because he hasn't done anything but take photos, rub elbows with everyone except constituents, and attend fundraisers, usually for his own campaign while being the absentee mayor.

The recent Neil Cavuoto interview after Tony got into Chicago is so demonstrative of his double-talking skills. He blathers on and finally Cavuto says, "You're good. You're not going to give me an answer..." Cavuto told Tony, "You're known as a fiscal conservative." Cavuto image of Tony must be happening in some parallel universe, not here.

Tony has no answers and no one shares information with him. He had to try to squeeze into the audience camera shot, sitting behind Pres. Clinton at the DNC and he was not given any keynote speaker roles all the time he was there.

The scary thing is that lots of voters will fall for the expected campaign fluff that his multi-million dollars will produce to seduce voters, the naive ones and other less-than-astute voters, getting him another shot to be paid by L.A. while raising money for the 2010 governor's race.

Posted On: Monday, Nov. 10 2008 @ 7:35PM
Concerned Taxpayer says:

Our mayor of LA is corrupt. He only got in because 1) People wanted a change from a bad politician so they elected him from a lousy choice of politicians on the ballot: 2) LA is a hugely Hispanic city and he catered to obtaining their vote, though a lousy representation of intelligent Hispanics. I hope he loses on the March 3rd 2009 election! I sincerely hope he never wins any other elections! He's bad news & self-serving, tax, fee & surcharge hungry & not for LA's interests. He's an over-spending-over-the-budget by billions fathead who was forewarned for years about the City's over-spending and becoming broke! Anyone stupid enough to vote for him again?

Posted On: Wednesday, Jan. 28 2009 @ 1:57PM

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