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Obama to nominate Summers as Fed chief: Japan's Nikkei
Reuters ^ | 9/13/2013

Posted on 09/13/2013 2:16:03 AM PDT by markomalley

U.S. President Barack Obama will name former Treasury Secretary Lawrence Summers as chairman of the Federal Reserve Board, Japan's Nikkei newspaper said on Friday.

The newspaper, quoting unnamed sources, said in its original Japanese version that Obama was "in the final stages" and moving toward naming Summers.

The English-language version said the president "is set to" name Summers as early as late next week.

Debate in Washington has focused on whether Obama will pick Summers or Fed Vice Chair Janet Yellen to succeed Ben Bernanke, whose term as head of the U.S. central bank expires in January. The appointment must be approved by the Senate.

Reports in the New York Times and Washington Post earlier this month suggested Obama was strongly inclined to pick Summers.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Government
KEYWORDS: fedhead; larrysummers; summers

1 posted on 09/13/2013 2:16:03 AM PDT by markomalley
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To: markomalley

Was Van Jones busy?


2 posted on 09/13/2013 2:23:49 AM PDT by RKBA Democrat (Power disintegrates when people withdraw their obedience and support)
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To: markomalley

How do you get worse than Timothy Geithner.?..
Lawrence Summers is the answer..

Obama has put the most moronic in all high level positions of the federal givernment that he controls..

ON PURPOSE.. and Those candidates hire those under them even less qualified then they are.. And promote those under them to higher positions those that are also, morons..

Brilliant really.. how do you destroy the most successful capitalist system the world has known?.. By doing THAT!..
Thats not stupid.. treasonous and malignant but not stupid..


3 posted on 09/13/2013 2:31:32 AM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: hosepipe

The Paulbots may have a point... time to abolish the Fed.


4 posted on 09/13/2013 2:38:50 AM PDT by fieldmarshaldj (Resist We Much)
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To: markomalley
Obligatory Larry Summers photo:


5 posted on 09/13/2013 2:51:07 AM PDT by rightwingintelligentsia (Truth/Lies; Liberty/Tyranny--WHAT DIFFERENCE DOES IT MAKE??)
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To: hosepipe

These appointments don’t need to be qualified for the job. All they have to do is demonstrate that they are of the right communist ideology.


6 posted on 09/13/2013 2:59:06 AM PDT by fatnotlazy
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To: markomalley

Great, Democrats can pass an even bigger Keynesian Stimulus bill and have the funds transferred electronically to pay for it...


7 posted on 09/13/2013 3:13:04 AM PDT by Son House (Democrats want you to use 'Great Recession' instead of 'Jobless Recovery', recession ended June 2009)
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To: markomalley

Obama doesn’t seem to know anyone else?

He has, without fail, appointed the most abysmally incompetent people to oversee the gears of the government and the economy. In State, in the Fed, in the Treasury, in the UN, in the IRS, in all empty spaces he has appointed empty spaces.

I can only conjecture this is to coverup Obama’s abysmally inept tenure that unfortunately for us, will last another three and one-half years.


8 posted on 09/13/2013 4:48:09 AM PDT by OpusatFR
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To: markomalley

Obama the Manchurian candidate is doing what he is told by the left-wing cabal running the country.


9 posted on 09/13/2013 5:03:42 AM PDT by headstamp 2 (What would Scooby do?)
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To: markomalley

Wonder if he’ll hire women?


10 posted on 09/13/2013 5:16:56 AM PDT by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
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To: markomalley

The liberal womyn aren’t going to like this... passing over Janet Yellen and picking Summers, who they hate. Gotta love it.


11 posted on 09/13/2013 5:33:37 AM PDT by Mannaggia l'America
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To: Mannaggia l'America
Here's Yellen!

12 posted on 09/13/2013 5:37:09 AM PDT by b4its2late (A Liberal is a person who will give away everything he doesn't own.)
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To: markomalley

I have a friend who worked at Harvard as a VP under Summers. He said Summers is the biggest A-hole he had ever encountered in academia, and that’s saying something.


13 posted on 09/13/2013 5:38:56 AM PDT by Captain Jack Aubrey (There's not a moment to lose.)
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To: hosepipe
Geithner was Treasury Secretary. Summers is being considered for Fed Chairman. Other than that, your statement about competence is 100% correct. Furthermore, whenever anyone leaves this Administration, they are replaced by someone even less competent. At Treasury, Jack Lew is so bad that I am beginning to miss Geithner.

At least Geithner was willing to work within the guidelines that Congress set. Not so with Lew. Since Day One, he has ignored even the most rudimentary accounting practices of our deficit situation. The upcoming 'crisis' that everyone is pointing to at the end of this month was actually reached four months ago. We have been in violation of the debt ceiling imposed by Congress all this time, yet Treasury has reported that the overall debt has not increased one dime over that span even though the Fed reports each month that they are dumping another $85 billion into Treasury coffers.

The rule of law is dead in this country. That's why I say Republicans should not assign funding for Obamacare for the next fiscal year. It won't matter anyway. Obama will fund it anyway regardless of what the law says. But at least Republicans will have taken the moral high ground instead of granting sanction to Obama's lawlessness as they have been doing now for the past 2½ years.

14 posted on 09/13/2013 5:42:36 AM PDT by Hoodat (BENGHAZI - 4 KILLED, 2 MIA)
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To: OpusatFR
He has, without fail, appointed the most abysmally incompetent people to oversee the gears of the government and the economy. In State, in the Fed, in the Treasury, in the UN, in the IRS, in all empty spaces he has appointed empty spaces

I can see where you are going wrong here...

You think that these appointed people are supposed to be doing their constitutional and legally defined jobs, so, of course, they appear incompetent to you.

With narrow focus on the economy: Summers, Bernanke, Geithner, Raskin, Lew, and the rest are supposed to loot the Treasury while enriching themselves and their bankster comrades, especially Goldman Sachs, Citigroup, and B of A.

Now that you understand what they are trying to do, how can you call them incompetent? They are efficient and effective.

15 posted on 09/13/2013 5:46:14 AM PDT by Jim Noble (When strong, avoid them. Attack their weaknesses. Emerge to their surprise.)
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To: Captain Jack Aubrey
My fondest memory of Summers comes from 1980. Ronald Reagan was in a heated race for the Presidency running on an economic platform that a 70% tax rate was too high and that taxes needed to be cut in order to stimulate reduce the government impedance of economic growth. Summers boldly predicted that Reagan's tax-cutting proposal would lead to a 40% inflation rate within two years. (Inflation that year was already running in double-digits. Yet two years into Reagan's Presidency, the rate had fallen below 3%.)

Summers also played a key role in deregulating the derivatives market which caused the economic collapse of 2008. So I expect Summers to be another in a long list of Fed Chairmen who get it wrong again and again and again. The only hope that he brings to the table is that he brings an end to the current money expansion policy that Bernanke is employing. However, Summer's past relationship with Goldman-Sachs would indicate that this policy will continue.

16 posted on 09/13/2013 6:00:13 AM PDT by Hoodat (BENGHAZI - 4 KILLED, 2 MIA)
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To: fatnotlazy

“These appointments don’t need to be qualified for the job. All they have to do is demonstrate that they are of the right communist ideology.”

Or that they’ve recognized each other from a friends bbq. It truly is about - not what you know - but who you know. Everyone is interconnected by a friend or relative.


17 posted on 09/13/2013 6:13:54 AM PDT by HollyB
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To: markomalley

Smart move by Obama to pick a man for this job. Women can’t do math, as a former president of Harvard University pointed out a few years ago. What was his name?


18 posted on 09/13/2013 6:50:16 AM PDT by Verginius Rufus
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To: HollyB
“Or that they’ve recognized each other from a friends bbq. It truly is about - not what you know - but who you know. Everyone is interconnected by a friend or relative.”

***

To be fair, a number of previous presidents have rewarded friends, relatives and campaign donors with appointments and nominations. However, with this administration, being a good commie is an important qualification.

19 posted on 09/13/2013 6:57:19 AM PDT by fatnotlazy
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To: rightwingintelligentsia

So where’s “the switch”?


20 posted on 09/13/2013 7:12:24 AM PDT by Gay State Conservative (If Obama Had A City It Would Look Like Detroit)
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To: b4its2late
After seeing a “woman” like that my Dad used to say “how much does she charge to haunt a house?”
21 posted on 09/13/2013 7:13:50 AM PDT by Gay State Conservative (If Obama Had A City It Would Look Like Detroit)
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To: Gay State Conservative

LOL!

And she has puppet mouth. And Summers has no relevant experience.

http://confoundedinterest.wordpress.com/2013/09/13/inside-job-obama-to-nominate-summers-as-fed-chair-despite-no-federal-reserve-experience-yellen-has-puppet-mouth/


22 posted on 09/13/2013 7:32:35 AM PDT by whitedog57
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To: Gay State Conservative

Hahaha.... Perfect.


23 posted on 09/13/2013 7:32:48 AM PDT by b4its2late (A Liberal is a person who will give away everything he doesn't own.)
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To: hosepipe
"Obama has put the most moronic in all high level positions of the federal givernment that he controls.. ON PURPOSE..

Obvious to only a few people on earth (all here at FR and some communist leaders). The only opposition to this well educated dunce is based on him making supposedly misogynistic statements while at Ha-vaad.

24 posted on 09/13/2013 9:17:09 AM PDT by uncommonsense (Liberals see what they believe; Conservatives believe what they see.)
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To: markomalley
Does it really matter?
25 posted on 09/13/2013 10:06:18 AM PDT by hinckley buzzard
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To: markomalley

He worked for Bush so he’s qualified to work for obama.


26 posted on 09/13/2013 11:12:06 AM PDT by VerySadAmerican (".....Barrack, and the horse Mohammed rode in on.")
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To: markomalley

27 posted on 09/13/2013 2:34:00 PM PDT by caww
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To: markomalley

.

- I am seeing Goldman-Sachs and JP Morgan Stanley pushed on Fox Financial Channel as “bond issues loom”

- Any thoughts on this sportsfans?
- Obama is killing investors

.


28 posted on 09/13/2013 2:41:56 PM PDT by devolve (----- ----- ----- a yellow line in the snow ----- ----- -----)
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To: markomalley

I find it coincidental that Larry Summers is selected as fed chair at the same time he’s back within the Soros founded and backed International Crisis Group circle...
http://mediachecker.wordpress.com/2012/12/02/the-international-crisis-group-george-soros-mohammad-elbaradei-morton-abramowiz-mark-malloch-brown/


29 posted on 09/13/2013 3:36:32 PM PDT by bronxville (Margaret Sanger - “We do not want word to go out that we want to exterminate the Negro population,)
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To: Hoodat
The rule of law is dead in this country. That's why I say Republicans should not assign funding for Obamacare for the next fiscal year. It won't matter anyway. Obama will fund it anyway regardless of what the law says. But at least Republicans will have taken the moral high ground instead of granting sanction to Obama's lawlessness as they have been doing now for the past 2½ years.
-------------------------------------------------------------

the moral high ground in Washington D.C. is about sneaker high.. Florshiem high for re-pubicans...

30 posted on 09/13/2013 3:50:11 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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