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==Controveries== '''Gene B. SperlingTOP NEGOTIATOR OF GLASS-STEAGALL REPEAL''' served as National Economic Advisor and Director of the [[National Economic Council]] under President [[William Jefferson Clinton]] who created the Council "in 1993 to coordinate the economic policy process among all cabinet agencies, with respect to both domestic and international economic issues. [http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html]

Sperling also served as a principal negotiator with then-Treasury Secretary Lawrence Summers in finalizing the Financial Modernization Act of 1999, also known as Gramm-Leach-Bliley Act. Gramm-Leach-Bliley repealed large portions of the depression-era Glass-Steegal Act allowing banks, securities firms and insurance companies to merge. <ref>National Economic Council [http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html Profile of Gene Sperling]</ref> President Barack Obama believes that the repeal of these depression-era protections helped cause the 2007 subprime mortgage financial crisis.<ref>"As Director of Ten Questions for Those Fixing the NECFinancial Mess," Wall Street Journal (Mar. 10, 2009), available via http://online.wsj.com/article/SB123665023774979341.html </ref>  '''TOP NEGOTIATOR OF CHINA-WTO TRADE DEAL'''  Together with United States Trade Representative Charlene Barshefsky, Mr. Sperling [was] responsible successfully negotiated and concluded the China-WTO agreement in Beijing in 1999, paving the way for ensuring China to enter the World Trade Organization in 2001. <ref>http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html Profile of Gene Sperling</ref> The Economic Policy Institute estimates that economic policy 2.4 million U.S. jobs have been lost to China since 2001.<ref>Unfair China Trade Costs Local Jobs, Economic Policy Institute (Mar. 2010), available via http://www.americanmanufacturing.org/china-job-loss </ref>  '''PAYMENTS FROM FINANCIAL FIRMS ''' According to Bloomberg News, "Sperling earned $887,727 from Goldman Sachs in 2008 and $158,000 for speeches mostly to financial companies, including the firm run by accused Ponzi scheme mastermind R. Allen Stanford." <ref>Robert Schmidt, "Geithner Aides Reaped Millions Working for Banks, Hedge Funds," Bloomberg News (Oct. 14, 2009), available via http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abo3Zo0ifzJg </ref> His prior income for the period between 2001 and 2007 is consistent with not publicly available.  ==Background=====Obama Administration===In January 2009, Sperling became one the Presidenthigh-ranking advisors to Treasury Secretary [[Timothy Geithner]], after serving as an economic advisor to Obama's long term goals transition team and presidential campaign.  ===During the Bush Administration===According to financial disclosure forms filed in 2009 for the 2008 calendar year, "Sperling was paid $116,653 by the Council on Foreign Relations for work related to education in developing countries."<ref>Robert Schmidt, "Geithner Aides Reaped Millions Working for Banks, Hedge Funds" Bloomberg News (Oct. 14, 2009), accessed on Jan. 6, 2010 via http://www.bloomberg.com/apps/news?pid=newsarchive&sid=abo3Zo0ifzJg </ref> He "supplemented" this salary "through a variety of maintaining fiscal disciplineconsulting jobs, board seats, speaking fees and fellowships, making key investments to bring his total income to more than $2.2 million in the American people13 months ending in January. For example, he was paid $480,051 as a director of the Philadelphia Stock Exchange and opening foreign markets $250,000 for American workersproviding quarterly economic briefings to two hedge fund firms, farmers Brevan Howard Asset Management LLP and businessesSterling Stamos Capital Management....Sperling also drew a $137,500 salary from Bloomberg News for writing a monthly column and appearing on television, according to his disclosure. [[Goldman Sachs]] paid Sperling the $887,727 for advice on its charitable giving. That made the bank his highest-paying employer."<ref>Id. </ref>

Sperling told Bloomberg, "Mr. Sperling [My sole work for Goldman Sachs was then] as lead consultant on the third creation, design, and longest serving Director initial implementation of the [[National Economic Council]]‘10,000 Women, following [[Robert E. Rubin]] ’ their $100 million philanthropic effort to give business and Drleadership education to poor women around the world. [[Laura D'Andrea Tyson]]. During President Clinton's first term, Mr. Sperling served as NEC's Deputy Director. As Deputy Director, he helped design " The Center for Media and Democracy has called such philanthropic work that does some good while trying to wash away misdeeds by Wall Street firms and pass several of President Clinton's early initiatives including: the 1993 Deficit Reduction Act; the increase Goldman Sachs in the Earned Income Tax Credit; the particular "[[Direct Student Loan Programgreedwashing]]; Empowerment Zones and the Community Development Financial Institutions program; and the Technology Literacy Initiative. He also helped create the America Reads child literacy initiative. "

Among other paid speeches, "As National Economic Advisor and NEC Director, Mr. Sperling ... coordinated President Clinton's efforts to institute debt reduction, Save Social Security First, and reform [[Medicare]] policies. Mr. Sperling was spoke at a principal negotiator for Washington event hosted by the 1997 Balanced Budget AgreementHouston- based Stanford Group Co. He also served as a principal negotiator with Treasury Secretary Lawrence Summers in finalizing the Financial Modernization Bill. Together with United States Trade Representative [[Charlene Barshefsky]]November 2008, Mr. Sperling successfully negotiated and concluded three months before its chairman was sued by the historic [[China]]-[[WTO]] agreement in Beijing. He played a lead role in the design Securities and passage Exchange Commission for allegedly bilking investors of many of President Clinton's other initiatives, particularly the GEAR-UP mentoring program, the Hope Scholarship Tax Credit, the Workforce Improvement Act, and the Children's Health Insurance Program$7 billion. He is currently playing also spoke at a lead role Washington event in such initiatives as the New Markets legislationOctober 2007 that was sponsored by Citigroup, Debt Relief for Highly Indebted Countries, and the President's goal of universal basic educationwhich has received $45 billion in government assistance."<ref>Id. </ref>

"Prior to joining the NEC, Mr. Sperling served This financial disclosure form was required as Deputy Director of Economic Policy for the Presidential Transition and Economic Policy Director part of the Clinton-Gore Presidential campaign. From 1990 his government appointment (not subject to 1992, he was Senate confirmation) as an economic advisor to Governor Treasury Secretary [[Mario CuomoTimothy Geithner]] of New York.

"Mr. Sperling's publications have appeared No comparable public reporting was required during the preceding several years he spent in the Yale Law Journal, Columbia Law Review, Michigan Law Review, and Pennsylvania Law Review, as well as private sector following his work for the Atlantic Monthly, Washington Post, New York Times, USA Today, Christian Science Monitor, and The American ProspectClinton Administration.

"Mr. ==Clinton Administration===Sperling graduated from served as National Economic Advisor and Director of the University of Minnesota and [[Yale Law SchoolNational Economic Council]], and attended under President [[Wharton Business SchoolWilliam Jefferson Clinton]]. At Yale Law School he was Senior Editor of , from 1995 to 2000, after serving as the Deputy Director earlier in the Yale Law Journaladministration. He is a native of Ann Arbor<ref>See, Michigane.g., where his parents still livehttp://clinton4.nara.gov/WH/EOP/nec/html/sperling."html</ref>

Source: [http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html Profile: Gene B"As Director of the NEC, Mr. Sperling[was]responsible for ensuring that economic policy is consistent with the President's long term goals of maintaining fiscal discipline, ''FirstGov'' (Clinton)making key investments in the American people, and opening foreign markets for American workers, farmers and businesses.

"As National Economic Advisor and NEC Director, Mr. Sperling ... coordinated President Clinton's efforts to institute debt reduction, Save Social Security First, and reform [[Medicare]] policies. Mr. Sperling was a principal negotiator for the 1997 Balanced Budget Agreement. He also served as a principal negotiator with Treasury Secretary Lawrence Summers in finalizing the Financial Modernization Bill. Together with United States Trade Representative [[Charlene Barshefsky]], Mr. Sperling successfully negotiated and concluded the historic [[China]]-[[WTO]] agreement in Beijing. He played a lead role in the design and passage of many of President Clinton''TOP NEGOTIATOR OF GLASSs other initiatives, particularly the GEAR-STEAGALL REPEAL'UP mentoring program, the Hope Scholarship Tax Credit, the Workforce Improvement Act, and the Children's Health Insurance Program. He is currently playing a lead role in such initiatives as the New Markets legislation, Debt Relief for Highly Indebted Countries, and the President' s goal of universal basic education.

"Prior to joining the NEC, Mr. Sperling also served as a principal negotiator with then-Treasury Secretary Lawrence Summers in finalizing Deputy Director of Economic Policy for the Financial Modernization Act Presidential Transition and Economic Policy Director of 1999, also known as Grammthe Clinton-Leach-Bliley ActGore Presidential campaign. Gramm-Leach-Bliley repealed large portions of the depression-era Glass-Steegal Act allowing banksFrom 1990 to 1992, securities firms and insurance companies he was an economic advisor to merge. <ref>National Economic Council Governor [[http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html Profile of Gene SperlingMario Cuomo]]</ref> President Barack Obama believes that the repeal of these depression-era protections helped cause the 2007 subprime mortgage financial crisisNew York."<ref>[http://online.wsj.com/article/SB123665023774979341.html Wall Street Journal, Ten Questions for Those Fixing the Financial Mess], March 10, 2009Id. </ref>

Together with United States Trade Representative Charlene Barshefsky, "Mr. Sperling successfully negotiated 's publications have appeared in the Yale Law Journal, Columbia Law Review, Michigan Law Review, and concluded Pennsylvania Law Review, as well as the China-WTO agreement in Beijing in 1999Atlantic Monthly, Washington Post, New York Times, paving the way for China to enter the World Trade Organization in 2001. <ref>National Economic Council [ http://clinton4.nara.gov/WH/EOP/nec/html/sperling.html Profile of Gene Sperling]</ref> The Economic Policy Institute estimates that 2.4 million U.S. jobs have been lost to China since 2001.<ref>[http://www.americanmanufacturing.org/china-job-loss Unfair China Trade Costs Local Jobs]USA Today, Economic Policy InstituteChristian Science Monitor, March 2010and The American Prospect. </ref>