General Discussion

JackRiddler

(24,979 posts)

21. Summers is not incompetent or reckless.

Fri Jul 26, 2013, 02:23 PM

Jul 2013

Everything he did that we rightly hate him for was programmatic action. The idea was to deregulate banking so that banksters could plunder and so that wealth would be further concentrated with the 1%. The idea was to restore an old-style parochialism at Harvard with attacks on uppity minorities and women. These were not mistakes. The system and its actors do what they appear to do. To call it incompetence is to ascribe an unknowable motive. If his actions were really unintended failures, he would not have been Obama's economic adviser or in consideration for Fed chair at this time. Don't give them the benefit of the doubt. He is a class warrior.

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Survey: Wall Street DOES NOT want Larry Summers as next Fed chief [View all] Cali_Democrat Jul 2013 OP

Oh no, not Summers, please! Helen Borg Jul 2013 #1

Yes. And the Harvard connection is strong (BO & Summers). DURHAM D Jul 2013 #2

So you're siding with Wall Street Cali_Democrat Jul 2013 #5

Well, the forty particular economists, traders and strategists surveyed, maybe. Orsino Jul 2013 #22

The only people who want Summers are Summers and Obama. dkf Jul 2013 #3

what do you think the rationale would be? Pretzel_Warrior Jul 2013 #4

She was Obama's choice for vice-chairman of the Federal Reserve System deutsey Jul 2013 #6

I don't understand your "DU sides with Wall Street" line. Marr Jul 2013 #7

The OP seems prone to such petulant outbursts cthulu2016 Jul 2013 #8

Awwwww Cali_Democrat Jul 2013 #10

It's "You hate Obama" Aerows Jul 2013 #23

I see a lot of venom here directed toward Summers, but not toward Yellen Cali_Democrat Jul 2013 #12

The idea of Summers as chairman of the Fed Aerows Jul 2013 #16

Summers is not incompetent or reckless. JackRiddler Jul 2013 #21

Do you want Summers, or is this just another nihilistic exercise in division? cthulu2016 Jul 2013 #28

Actually I have chosen not to jump on the bash Larry Summers bandwagon the last few days Cali_Democrat Jul 2013 #29

I'd rather be part of the herd that runs away from the cliff Aerows Jul 2013 #30

Of course you haven't stated an opinion. Obama hasn't stated his yet. Marr Jul 2013 #36

Actually I'm not a fan of Janet Yellen. Cali_Democrat Jul 2013 #37

Guarantee: if Yellen gets picked, she will be denounced on DU as a puppet of Wall Street. nt geek tragedy Jul 2013 #9

Agreed JustAnotherGen Jul 2013 #11

It's just so predictable at this point. n/t Cali_Democrat Jul 2013 #13

How dare someone with banking/financial experience be nominated as Fed Chief?! AllINeedIsCoffee Jul 2013 #15

Not by me Aerows Jul 2013 #17

Summers would be a catastrophically stupid pick on a number geek tragedy Jul 2013 #18

Thank you Aerows Jul 2013 #19

I nominate Krugman. JaneyVee Jul 2013 #14

Not a bad idea Cali_Democrat Jul 2013 #20

now that is an intriguing idea. liberal_at_heart Jul 2013 #25

I don't think Krugman wants the job. jazzimov Jul 2013 #35

This if you agree with so and so means you side with them argument doesn't wash with me. liberal_at_heart Jul 2013 #24

I KNEW this post was going to come from 1 of 4 people. cherokeeprogressive Jul 2013 #26

You KNEW!11!! Cali_Democrat Jul 2013 #27

Accept that which President Obama proposes with unfettered glee or you are... cherokeeprogressive Jul 2013 #31

Like I said Cali_Democrat Jul 2013 #32

If you "KNEW", then why in the hell did you post? nt bluestate10 Jul 2013 #38

I laid a finger upside my nose and gave with a nod, but no one noticed. cherokeeprogressive Jul 2013 #40

Floating the name of Summers is unacceptable but Yellen is no better (if not worse), PufPuf23 Jul 2013 #33

Reminds me of Brer Rabbit and the Briar Patch northoftheborder Jul 2013 #34

Indeed. nt bemildred Jul 2013 #39