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Monday, July 28, 2008

Two former Bush Advisers Now Advising Obama, Will Appear at Economic Meeting Today

ABC News has learned that two former administration officials for President George W. Bush will appear with Sen. Barack Obama, D-Illinois, at an economic meeting today, having signed up to be Obama economic advisers.

Bush administration veterans former Treasury Secretary Paul O'Neill and former Securities and Exchange Commissioner William Donaldson will join former Federal Reserve Chairman Paul Volcker, and more traditionally Democratic economic advisers such as former Clinton Treasury Secretary Robert Rubin, billionaire liberal Warren Buffett, AFL-CIO President John Sweeney, and SEIU Secretary-Treasurer Anna Burger.

Donaldson's tenure at the SEC was notable for his attempts to work with the Democratic Commissioners, for angering the US Chamber of Commerce and Republican legislators, and for abandoning an effort for shareholder proxy access.

O'Neill, the former CEO of Alcoa, had a stormy tenure as Bush's Treasury Secretary, and revealed his frustrations with the Bush administration -- especially over the war in Iraq, economic policy, and the President's leadership style -- in a book written with Ron Suskind, The Price of Loyalty: George W. Bush, the White House, and the Education of Paul O'Neill.

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