Obama defends Summers as he mulls Fed pick
Well,we continue to see same old Ivy League, in the Belt line 20+years, faces being considered again Fed chief. They’ll roll out the same old financial theories they were taught 20+years and call it a new name(game). You would think that the only people qualified to run the government are those in the belt line already.
We need fresh ideas, fresh faces, new solutions not theory. Surely there are people who could run the Fed. without being on a first name basis with every Congressperson already there.
The Fed chair is arguably the most important job in the world. You can approve or disapprove of Ben Bernanke’s policies, but no one can fairly suggest that personal political chest-bumping and ego-tripping plays any role in the way he handles to more far-seeing of all positions in the world. Summers would bring all of the worst “I win – you lose” mentality of an ego-driven politician pretending to be an intellectual leader. Personal power conflict is the lens through which this man sees the world. I voted for Obama twice, and am sickened to think that he would see Summers as even a possibility for the Fed chair, must less the most likely pick.
Summers is a no go for me.
Let’s remember that Obama’s Department of Justice has done nothing of consequence to hold those responsible for the crash for anyting, save a few “fines” that amounted to a couple of days gross revenue for the banks involved in the frauds.
It’s the same story with the Bush / Chendy assertions of Executive power in the “war on terror.”
On these two subjects, it’s the Bush policy all the way.
I don’t want Yellen or Summers … both will be bad news for the dollar, or at least what is left of the currency. Better the Fed heads from KC or Philly.
Obama needs to start appointing people who have been right, such as Brooksley Born and stop appointing people who have been wrong, such as Tim Geithner and Larry Summers.
All he has to do is google this or watch “The Warning” or “Inside Job”.
Who ever it is, it’s a banker’s pick. The FED is in the pocket of Wall Street. It has from 1913 when it was “Invented” by J.P. Morgan himself and his cohorts. Summers, Geitner–all banker boys.
You got it all wrong; Obama is Larry Summers spokesman and not the other way around…


