Friday, January 07, 2011

Obama Names Vice Chairman of JP Morgan as White House Chief of Staff

William Michael Daley will be the long-standing successor to the former chief of staff Rahm Emanuel, who left the administration last year in the hope of running for mayor of Chicago.

W. Daley, a longtime Illinois political activist, will now hold the chief of staff in the White House, where he will have a part in the prospective staff's access to the Oval Office and what President Obama's Capitol Hill agenda should be.

Daley, as a top executive at JP Morgan Chase Bank, was paid as much as $5 million a year supervising the Washington lobbying efforts for JP Morgan -- the US second largest bank. He also served on the administration board at the giant defense contractor Boeing and Abbott Laboratories -- the global drug company.'


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