Anyone hoping Obama would change course through his picks for Chief of Staff and National Economic Advisor will be surely disappointed with his selections. Bill Daley has already been announced for the former and Gene Sperling looks like a shoe in for the latter. Both were pivotal in crafting Clinton’s neoliberal policies that I believe are the root cause of our economic woes, and to make matters worse, Volcker is going to step down from his position. This signifies the continuation of Too Big To Fail and other big government corporatist policies on one hand, combined with the belief that we shouldn’t have any radical labor creation programs on the other. Faced with the midterm losses Obama had the opportunity to present a strong new course, but these picks show that he truly believes the biggest problem of his Presidency is lack of acknowledgment of his accomplishments instead of their content. It’s a pity, especially given the increasing stress in Europe and slowdown in China that will require radical new direction in the coming years.