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 ...
Was Van Jones busy?
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..
The Paulbots may have a point... time to abolish the Fed.
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.
Great, Democrats can pass an even bigger Keynesian Stimulus bill and have the funds transferred electronically to pay for it...
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.
Obama the Manchurian candidate is doing what he is told by the left-wing cabal running the country.
Wonder if he’ll hire women?
The liberal womyn aren’t going to like this... passing over Janet Yellen and picking Summers, who they hate. Gotta love it.
Here's Yellen!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.
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.
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.
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.
“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.
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?
***
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.
So where’s “the switch”?
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