Is anyone sad to see Larry Summers withdraw his name for Fed chairman?

[yurbud]

Given his advocacy for bank deregulation not just for the US but every other country in the world during the Clinton years, and his strong arming of Brooksley Born, an financial regulator who was actually trying to enforce the fews laws and regs that remained, it is hard to think of someone worse for the job.

Larry Summers was a slug in the garden of our battered democracy, and I for one am glad that he salted himself and melt his own political career.

But I'm curious what the defense is that could possibly have been given for him in the corridors of power, other than that he did exactly what Wall Street bankers told him to do.

Can someone make the case that bank deregulation was GOOD for the US and the world?

Or that intimidating a regulator from doing their jobs was somehow GOOD for America and the world?

Are you sad to see Jabba the Summers go?

16 votes, 0 passes | Time left: Unlimited
	NO--thanks Larry for lancing the corrupt boil that you are on the body politic
	16 (100%)
	YES--Larry made key contributions in the Clinton years and during the Obama admin
	0 (0%)
	OTHER
	0 (0%)
	0 DU members did not wish to select any of the options provided.
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[HappyMe]

1. Hell no.

He's an asshole.
I don't think he was on any official short list though.

[hedgehog]

2. Kick!

[Jackpine Radical]

3. I don't think this is a fair poll.

Trying to associate scum like Summers with a lovable character like Jabba--

Oh, wait, that's Rush.

Nevermind.

[yurbud]

7. I should have added, "no offense meant to slugs, boils, or Jabba"

A standard disclaimer I used to use for Bush insults like nitwit (no offense nits).

[elleng]

4. A friend told me he'd read comments to NYTimes story about this yesterday,

and there wasn't ONE pro-Summers! So at least this is ONE good decision he made!

[yurbud]

9. Dick Cheney might be more popular--I would really like to know what the hell Obama was saying in his

defense

[pscot]

5. K&R

[irisblue]

6. you didnt list Aw Hell No as a choice

so I used no instead....

[liberalhistorian]

8. Where's your

"hell fucking no!" option? lol

[WilliamPitt]

10. He wasn't a nominee

SO STOP SAYING THAT.

[geek tragedy]

11. IF the president really was going to nominate Summers he owes the people

who torpedoed this nomination a huge debt.

It was/would have been a stupid f@cking nomination from the beginning. Anyone outside his bubble would know that.

[KamaAina]

12. Of course.

Larry Summers is.

[yurbud]

13. where are our DLC friends? did they sleep in? take the day off for Joe Lieberman's birthday?

can say show up and boat and put some minimal defense up for this guy?

you know we're on the winning side of an issue when they don't even
try

[bvar22]

14. Somebody, Somewhere, at Some time must have liked Larry Summers ...a lot.

[font size=5]
The DLC New Team
[/font]
(Screen Capped from the DLC Website)

Birds of a Feather.

[yurbud]

16. I wouldn't want to be in any group that had both Summers and Rahm

[bvar22]

19. The Republicans made him choose those people!

Plus, that was ALL a part of the Secret Plan to get Putin to step in and stop the US from bombing Syria.
SEE?
We ALL got "played".

[gopiscrap]

15. Not only no, but HELL NO!!!!

[Douglas Carpenter]

17. You bet I am pissed off about it for the same reason I'm pissed that we are not bombing Syria

I wanted so much to have something more to bash Obama for

[pampango]

18. My only reservation - CNBC: "If it's Yellen, Wall Street gets the Fed chief it wanted, not expected"

Wall Street looks set to get who it wants as Federal Reserve chairman, but definitely not who it expected.

The CNBC September Fed Survey, conducted Thursday and Friday, found Wall Street participants by a 2-to-1 margin believed President Barack Obama would nominate former Treasury Secretary Larry Summers to be the next Fed Chairman. But by about a 5-to-1 margin, they wanted current Vice Chairwoman Janet Yellen to accede to the top post over Summers.

Among the reasons for the preference of Yellen over Summers: The survey of 47 top economists, Wall Street strategists and investment managers found that most perceived Summers to be more hawkish than Yellen—that is, they believed he would be less likely to continue the current easy monetary policy of current Chairman Ben Bernanke.

The survey found that participants believed Yellen was substantially more concerned about unemployment than Summers, and that Summers had greater concern about inflation. ... Market participants gave Bernanke the highest overall score. Yellen came in a close second. But even Kohn beat Summers, who finished last among the four in the eyes of Wall Street.

http://t.nbcnews.com/business/if-its-yellen-wall-street-gets-fed-chief-it-wanted-8C11166978

It is interesting that stock markets all over the world were up today. They did not seem sorry to see Summers bite the dust.

Krugman posted his support for Yellen. It is always a weird day when "Wall Street participants" agree with Krugman and a largest portion of DU, including me, who prefer Yellen over Summers.