30 July 2013

Pushback on Larry Summers

I am pleased to see this report from TPM that there's BIG pushback from Senate Dems against the internal lobbying in the WH coming from supporters of Wall Street favorite Larry Summers as a candidate for Fed Chairman. I've wondered if it isn't Summers himself who's tried to gin up the expectation that he will be appointed, because it would be totally out of synch with Obama's recent pro-working people stance for him to appoint Summers over Janet Yellen.

I gotta say, if Obama does that, he will be casting aside the last shred of his credibility with Progressives, and very likely indirectly causing another financial crisis, because Summers has repeatedly shown himself to be wrong and clueless about what matters in the regulation of finance, and to be totally out of touch with the needs of Main Street.


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