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Video - Geithner aides made millions on Wall Street

Sperling worked in the Clinton administration, then for Goldman Sachs and currently serves as a senior aide to Tim Geithner at Treasury. With this we can assume the Roger Altman trial balloon crashed and burned.

From last month:

• Goldman Alum Roger Altman STEALS $46 Million From Taxpayers, Lobbies To Replace Larry Summers & Complete Government Sachs Round Trip #2

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Source - Reuters

(Reuters) - A trusted aide with first-hand experience negotiating with Republicans has emerged as the favorite to become President Barack Obama's new top economic policy adviser, Democratic sources said on Monday.

Several sources close to the deliberations said Gene Sperling, a Clinton administration veteran, has gained traction in the last few weeks as a potential successor to Larry Summers, who is departing as director of the National Economic Council.

Sperling is seen as having an edge over two other leading contenders, investment banker Roger Altman and Yale University President Richard Levin.

A source familiar with the matter also said Obama is considering tapping J.P. Morgan Chase executive William Daley for a senior role within the White House, possibly as chief of staff.

Sperling, 52, brings a unique characteristic to the table: he has actually done the NEC job, a role that coordinates economic advice throughout the administration.

Sperling, who serves as counselor to Treasury Secretary Timothy Geithner, has a reputation as a savvy political and economic expert and is known for his tireless work ethic.

"The president is considering a number of qualified candidates and he has not made a decision or offered a job," White House deputy communications director Jen Psaki said.

"The most important qualification is finding the right person for the job, who can lead the team at this pivotal time in recovery."

Psaki declined to say whether Sperling had emerged as the leading candidate.

Some liberal Democrats see Sperling as too close to Wall Street because of work he has done as a consultant and because he was at the NEC during a period of financial deregulation under former President Bill Clinton.

Sperling helped put together the $858 billion tax-cut deal hammered out late last year and has helped focus attention on small-business issues within the administration.

Continue reading at Reuters...

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