Who's out, who's in, who cares? They are all the same anyway.
Also see: Censoring Larry Summers' Conflict-of-Interest
And a racist, too, how about that?
"Summers’s role questioned as US economic policy shifts; Obama adviser fights talk of waning power" by Michael Kranish, Globe Staff | February 4, 2010
WASHINGTON - Despite the shift, Lawrence H. Summers, the former Harvard president who is the White House’s chief economic adviser, and White House officials insisted in interviews last week that Summers continues to play his powerful, behind-the-scenes role as key architect of the administration’s economic strategy....
No wonder we are in such a mess.
And if this is true, why all th time-wasting print?
“The president gets advice from many different quarters and forms the best judgments he can. Certainly he doesn’t always take my advice,’’ Summers said before leaving Washington for the World Economic Forum in Davos, Switzerland.
Oh, he was at Davos, huh?
The bottom line, Summers said, is that he is a full-team player. “I support all of the president’s policies,’’ he stressed.
As a White House official, Summers gets to avoid the public grillings in Congress that Treasury Secretary Timothy Geithner has been subjected to, over such explosive controversies as Wall Street bonuses and the banking and investment firm bailouts that began in 2008....
As Treasury secretary during the Clinton administration, he favored deregulatory moves - in particular, repealing the Glass-Steagall Act, which prevented banks from owning investment companies - that some believe helped stoke the financial crisis.
Yeah, and HE PERSONALLY BENEFITED from them!!!!
He also has close ties to Wall Street, working at a New York hedge fund from 2006 to 2008 and earning speaking fees from major banks in the months before his White House appointment, including from banks that taxpayers bailed out.
Summers “is the fundamental problem,’’ said a former federal bank regulator, William Black, now an associate professor of economics and law at the University of Missouri-Kansas City, citing Summers’s close ties to the banking industry and past support of deregulation.....
Thanks for the "change," Obama.
“There is no economic policy or international economic policy that Larry is not a part of,’’ Rahm Emanuel, White House chief of staff, said in an interview. “He is the president’s principal economic adviser.’’
That's straight from the the master's mouth to your ears, Americans!
That does not mean that Summers doesn’t fight for his view and that administration officials do not engage in internal policy disagreements. Emanuel said Summers and Geithner would sometimes remain at White House meetings until 9 p.m. on Sundays to discuss “shades’’ of differences in their views, although he would not provide specifics.
Although Summers’s official title is chairman of the White House National Economic Council, the former Harvard president’s job is to speak as bluntly and privately as possible to Obama, a graduate of Harvard Law School.
Summers often does the briefing with other top administration officials, but overall only a handful of people spend as much time with the president as Summers.
Asked whether he made mistakes during the Clinton administration by urging bank deregulation, Summers declined to respond directly.
“Hindsight is 20/20,’’ Summers said....
Sigh.
Off with that head -- if it can cut through the jowls.
Summers, who still maintains his home in Brookline, became president of Harvard in 2001 and left under pressure in 2006 amid controversy about his comment that innate gender differences could explain why fewer women succeed in math and science professions.
Hey, what do you know, a RACIST, SEXIST ELITIST running Harvard and the president's economic program. Yaaaaaayyy!
During his leadership at Harvard, Summers continued a practice of aggressively investing the university’s cash, despite warnings from two heads of the endowment to take fewer risks with the funds. Two years after Summers left, Harvard lost $1.8 billion in cash as a result of the financial meltdown.
Yeah, his risky strategy cost 'em plenty (but they are still sitting on billions!).
And check out the PAYCHECKS this guy was racking up -- and FROM WHOM!!!
After leaving Harvard, Summers went to work for a New York City hedge fund, D. E. Shaw & Co., which paid him about $5.2 million from 2006 to 2008.
In addition, he earned $2.7 million in speaking fees, mostly from financial firms, including several that received money under the government’s bank bailout, such as
Give me one of those checks and I'm set for years.
In his interview with the Globe, Summers was asked what he would say to unemployed Americans who might have concerns about the way he collected so many large speaking fees from financial institutions just before joining the Obama administration to help shape economic policy.
“I’d tell them that the president asked me to come help him and advise him as he took on enormous economic challenges,’’ Summers responded. “Because of the magnitude of the economic challenges, because of my enormous respect for the president and for others on the economic team, I gave up a very wide range of opportunities at the university and in the private sector to come work in government because I thought this was a crucial moment for our economy.’’
That is NOT what we wanted to hear you FAT TURD!!!!!!!!!!!!!!!!!
Speaking before Friday’s announcement that the economy grew at a better-than-expected rate of 5.7 percent during the fourth quarter of 2009, Summers said he understood that many people don’t believe the recession has ended, particularly because the unemployment rate has remained high....
That is because it HAS NOT -- despite what you government liars say and what the mouthpiece media transmits!
--more--"
