Come onboard. There's plenty of room.
Posted on 01/05/2010 8:49:46 AM PST by FromLori
There's little doubt that the Obama administration will continue its relatively accomodative, Wall Street-friendly policies for some time to come, as the still-weak banking system gets coddled back to health.
But it's also true that the administration still has to do more to shed its pro-Wall Street image -- established fairly or unfairly by the likes of Matt Taibbi.
One way to do that would be to start severing official ties with the various Clintonistas that inhabit The White House, most notably economic advisor Larry Summers, one of the most charged figures there is.
Summers is known for being "brilliant," but he's disliked and carries tons of baggage (not to mention that he cost Harvard billions of dollars due to bad bets during his tenure as President).
Now Bloomberg columnist Al Hunt says insiders are grumbling, and Slate's Mickey Kaus wonders if Summers is being "Greg Craiged" -- getting pushed out by anonymous sources, as has happened to Greg Craig earlier this year.
If 2010 emerges as the year of the elephant like so many expect, get ready for a major shakeup, including the end of the line for both Summers and probably Geithner. The policies won't change much, but some fresh blood will like them more palatable.
(Excerpt) Read more at businessinsider.com ...
ping but here is another take on that story
Who Has Knives Out for Larry Summers?
http://www.economicpolicyjournal.com/2010/01/who-has-knives-out-for-larry-summers.html
Unfortunately, not when it comes to economics. Summers is the one who predicted back in 1980 that Reagan's proposed tax cuts would lead to 40% inflation.
summers wrecked harvard’s finances lol from the other story
but with more details emerging as to his disastrous handling of Harvard’s finances, and now increasing interest in the firing of an African-American female who warned about the reckless method derivatives were bought at Harvard, Summers chances for becoming Fed chairman are being marked down faster than the crashing derivatives Harvard Management bought for Harvard.
Gee, my heart just bleeds for this fat schlump.
No worries, they’ll find another blowhard egghead to create some harebrained theory and impose their destruction on the US economy.
Maybe the Iron Chef secret ingredient WH-style should have been toast.
Obama will come up with some kind of job trade. Napolitano will become chief economic advisor and Summers will become Secretary of Homeland Security Administration. Makes as much sense as anything Obama does.
Come onboard. There's plenty of room.
Man, I NEVER drink that much.
In addition to his questionable handling of the Harvard endowment, Larry Summers was fired mainly because of some incautious words at a conference, when he expressed wonder why there were not more top women scientists.
He wasn’t supposed to say that sort of thing. He was just supposed to hire more women scientists, qualified or not. (In fact, all women are qualified—that’s the P.C. Position.)
I was a bit surprised that Obama hired him in the first place, because since then Larry has been on the official feminist s***-list. Once you get on that, you can never get off. He is officially designated a Male Chauvenist Pig.
(And that’s not the sort of thing a good Communist Muslim should want hanging around his office.)
He's working with the UN still trying to figure out how to impose a global tax like a good little communist.
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