Mike Bloomberg and the JP Morgan CEO who played a key role in 2008’s financial crash are in line for posts in Democratic presidential frontrunner Joe Biden’s cabinet, according to a high-profile “leak” that has angered many.
The centrist candidate’s alleged cabinet picks were floated on Axios on Monday, citing “top sources” including Biden advisers. Aside from Massachusetts Senator Elizabeth Warren, who dropped out of the race last week but has yet to endorse another candidate, the roster included polarizing plutocrats like Bloomberg (tapped to lead the World Bank) and JP Morgan CEO Jamie Dimon, whose role in the 2008 housing crisis few have forgotten, for the Treasury Department.
While Biden has notoriously said in the past that “nothing would fundamentally change” under his presidency, many were infuriated at the candidate’s naked subservience to Wall Street – and insulted that his advisers might try to paper over such truckling to the oligarchy with the appointment of a progressive favorite like Warren to some token position.
BREAKING: Joe Biden is considering billionaires Jamie Dimon and Mike Bloomberg for his cabinet. A vote for this man is a vote for cartel and oligarchy.To put that in simpler terms: Joe Biden’s administration is going to kill people for money on purpose. https://t.co/wwZF9nZulI
— Aren R. LeBrun (@proustmalone) March 9, 2020
Joe Biden is considering Michael Bloomberg and Jamie Dimon for his cabinet. So much for “Vote Blue No Matter Who.” If he thinks appointing Warren as his Secretary of Treasury will somehow appease us, he has got to be freaking kidding me. #BernieOrBust
— #BernieOrGreen #LearnMMT 🌹 (@NoFascistLies) March 9, 2020
Several brought up Dimon’s role in the housing crisis. Appointing the “bankster” to run the Treasury, one user tweeted, “tells you everything you need to know about what kind of president he would be.”
I’m old enough to remember Jamie Dimon screwing millions out of their homes and then asking for a bailout. He should be in jail, not in power. What is the Biden campaign thinking?!
— Adam Christensen (@AC4Congress2020) March 9, 2020
Aw man, Are you kidding me?Biden is measuring the White House drapes by floating Jamie Dimon as Treasury Secretary.He’s the CEO of a bank that:- got a $ 416B bailout while he was on the NY Fed- was fined $ 13B for mortgage fraud- illegally foreclosed on military families https://t.co/4iT6ZE8NuA
— Warren Gunnels (@GunnelsWarren) March 9, 2020
Others were more surprised that anyone else was surprised. Surely Biden had made his loyalties clear throughout his career, starting when – as a young senator – he admittedly tried to “prostitute himself” to wealthy interests.
This shouldn’t surprise anyone. This is who the Dem Party is. The establishment wing of the Party didn’t fall into line behind Biden despite the fact that he’d put Bloomberg & Jamie Dimon in his cabinet. They did it *because* of that.This is who they are, their ideology: https://t.co/NnfCxp27wr
— Glenn Greenwald (@ggreenwald) March 9, 2020
As markets crash, Biden is considering Jamie Dimon for Treasury – a Wall Street banker who should have been prosecuted for his role in the last financial crisis. Instead, Obama/Biden bailed out Dimon & his cronies while doing NOTHING for 5 million Americans who lost their homes.
— Dr. Jill Stein🌻 (@DrJillStein) March 9, 2020
Not everyone was climbing the walls with rage, however. Some suggested there was “no way” Biden would pick Dimon to run the Treasury Department, insisting the campaign was likely not even thinking of cabinet positions with eight months still to go before the general election. It was just “too absurd.”
People, come on. There is no way Jamie Dimon is going to be Treasury Secretary, and I doubt anyone in Biden world is thinking about any Cabinet jobs at this point. Find something else to freak out about.
— Matthew Miller (@matthewamiller) March 9, 2020
Obviously a lot of stupid shit has happened in the last four years, but the idea that Joe Biden or any other Democrat would be stupid enough to name Jamie Dimon to their cabinet is so absurd that I have a tough time taking any report that makes that suggestion seriously.
— Ian Millhiser (@imillhiser) March 9, 2020
Besides, hadn’t Dimon just suffered a massive heart attack?
Meanwhile, at least one tweeter floated the intriguing possibility that the “leak” was intended to put pressure on Warren to endorse the former vice president.
So does this mean Team Biden is calling up Warren and saying, endorse us now and we’ll make you the next Treasury Secretary, or endorse Bernie and we’ll pick Jamie Dimon? That’s hardball.
— Will Bunch 🆘 (@Will_Bunch) March 9, 2020
Bank of America vice chair Anne Finucane, hired in the wake of the 2008 crash to rehabilitate the company’s moribund reputation, was also floated as a potential Treasury pick. There was even a prominent quid pro quo: Axios cited Biden advisers floating a “prominent slot” for former South Bend Mayor Pete Buttigieg after the up-and-comer’s endorsement of the former vice president. As for Biden’s potential vice president, it would be “whoever Jim Clyburn [the South Carolina senator whose endorsement got black voters flocking to the polls for Biden on Super Tuesday] wants it to be,” one adviser reportedly said, with California Senator Kamala Harris, Minnesota Senator Amy Klobuchar, New Jersey Senator Cory Booker, and former Massachusetts Governor Deval Patrick all in the running – all 2020 candidates who’d dropped out and endorsed Biden.
Also on rt.com WikiLeaks emails shows Citigroup’s major role in shaping Obama administration’s cabinet
The list was heavily padded with Obama administration veterans, including a suggestion that former Secretary of State John Kerry be brought back to reprise his role. The blasts from the past were fitting, given how closely the banker-heavy “leak” recalled the selection of the former president’s own cabinet. Key positions were filled largely from a list supplied a month before the general election by a Citigroup executive who would become Obama’s trade representative, while other Citi bankers helped craft the administration’s economic policies.
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