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Purveyor

(29,876 posts)
Wed Jul 31, 2013, 06:11 PM Jul 2013

Obama Calls Summers Criticism Unfair in Capitol Meeting

By Kathleen Hunter and Michael C. Bender - Jul 31, 2013

President Barack Obama, asked about former Treasury Secretary Larry Summers as a candidate for Federal Reserve chairman, said Summers is being unfairly criticized in public debate about the selection, lawmakers said after a private meeting with the president.

In the meeting today with House Democrats, Obama also named former Fed Vice Chairman Donald Kohn and current Vice Chairman Janet Yellen as potential nominees to lead the central bank, said a Democratic aide who sought anonymity to discuss the private session.

The president “took a minute to stand up for Larry Summers,” said Representative Brad Sherman of California, following the meeting with House Democrats. Obama then met with Senate Democrats, and afterward Majority Leader Harry Reid said party members in his chamber will support the president’s choice for the Fed, “no matter who it is.”

Obama told House Democrats he hadn’t decided whom to appoint as Fed chairman -- though he said Summers was being unfairly criticized, Sherman said. People familiar with the search had previously said Summers and Yellen were the two leading contenders to replace Chairman Ben S. Bernanke, whose term expires Jan. 31.

Representative John Larson, a Connecticut Democrat, said the president was “very adamant in his defense of the service Larry Summers has provided.”

more...

http://www.bloomberg.com/news/2013-07-31/obama-says-summers-being-unfairly-criticized-lawmakers-say.html

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winter is coming

(11,785 posts)
4. That alone should be a strong hint to look elsewhere.
Wed Jul 31, 2013, 07:43 PM
Jul 2013

If we don't change our basic approach to the Fed and Wall Street, another collapse is inevitable. Let's stop taking advice from the foxes.

 

rhett o rick

(55,981 posts)
5. But TPTB are in charge. When they whisper, the President obeys.
Wed Jul 31, 2013, 07:46 PM
Jul 2013

They whispered "Gen Clapper, Herr Mueller, Gen Alexander, and torturer Comey." And guess what?

 

rhett o rick

(55,981 posts)
6. You have to recognize that he see things from a different perspective. Summers is good for
Wed Jul 31, 2013, 07:47 PM
Jul 2013

the 1%. That's how he sees it.

Fumesucker

(45,851 posts)
8. I believe the position of court jester remains unfilled at this moment
Wed Jul 31, 2013, 08:06 PM
Jul 2013

Traditionally the jester was the one who could tell the king unpleasant truths by framing them as a joke.

customerserviceguy

(25,183 posts)
9. Quite true about the old time kings
Wed Jul 31, 2013, 08:15 PM
Jul 2013

But today, we have late-night monologues, surely a President could use them (and the strength of the laughter at each particular joke) as such.

I remember when inflation was raging in the early 1970's, and Johnny Carson went on to say, "I have no beef with Richard Nixon!" There are court jesters, one just needs to turn on the tube to find them.

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