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The following article was published in our article directory on November 23, 2010.
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Obama the Two Economic Adviser Once Again Leaving

Article Category: Business

Author Name: xia zihui

Deputy White House National Economic Council and the Ministry of Finance is responsible for financial institutions Farrell, Assistant Minister Barr plans to leave within a few weeks due to appeal against the Congress high economic policies, both in the process of government to solve the financial crisis, play a central role.

Obama plans two senior economic adviser leaving, a time when Congress, the White House economic policy faces the occasion against the growing louder.

The source said the White House National Economic Council Diana Farrell and the Ministry responsible for the financial institutions in the United States assistant secretary Michael Barr were scheduled to leave within a few weeks.

The two are in the Obama administration deal with the financial crisis plays a central role, and is the main financial regulatory reform bill planners. Barack Obama in July to financial reform bill signed into law.

Farrell said in a written statement, "I have the opportunity to effect on Obama and the United States are very grateful, but also in the remodeling of our confidence in the financial system and promote economic recovery and progress made on the proud." it said, "I am very fortunate, energy and such a good working team and the White House."

Farrell's departure marks the second round in December NEC high-profile high-level changes. NEC President Summers will be retiring in December, giving the administration the opportunity to re-NEC, NEC in the formulation of economic policy and business exchanges play an important role. Deputy Treasury Secretary during the Clinton administration Roger Altman is considered the best position to succeed Summers, one of the candidates. Summers past rumors Farrell will take over positions, but she gave up this opportunity.

In recent months, Obama economic team has undergone many changes, the White House Council of Economic Advisers Master Christina Romer and the Office of Management and Budget is also chairman Peter Orzag left the service in recent months, the two vacancies have been filled.

Farrell has broad responsibilities in the White House, she was in the White House, members of the Working Group vehicles, has been responsible for restructuring the General Motors Corporation and Chrysler, while her Government's handling of the time when the real estate crisis to the key role.

Summers said, "I am very grateful to Farrell in the countries, in particular the contribution of the period, she has the gift policy makers, and her good sense allows her to promote economic recovery and a lot of valuable advice given."

Farrell and Barr in a recent bill to promote the financial regulatory efforts are made, which is responsible for new consumer financial regulators candidates.

The bill was Obama raised in June 2009. Subsequently, two in the following year with most of the time spent in Congress and other officials to cooperate, the Financial Reform Act was amended several times, including July's a high risk of negotiations within the Democratic Party infighting was a threat to almost the final agreement, both parties focus of controversy as to create a new body to manage the consumer financial products.

Farrell Prior to joining the White House, in the McKinsey & Company Economic research department as director of McKinsey Global Institute, Barr is Professor in the University of Michigan Law School. Barr will return after the leave the school.

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