Larry Summers Gets 'Full-Throated Defense' From Obama In Capitol Hill Meeting, Lawmaker Says

[Beacool]

64. Another article on Summers.

Last edited Sat Aug 3, 2013, 09:52 AM - Edit history (1)

Summers clashed with fellow members of the Obama team. Noam Scheiber, in his book The Escape Artists, reported that he sidelined Christina Romer, then the chair of the Council of Economic Advisers, when she tried to persuade the president to pursue a larger stimulus package. Meanwhile, Sheila Bair, the former Federal Deposit Insurance Corporation chair who had warned of trouble in the subprime lending market, was left out of most major financial policy decisions.

"The attitude was that they already had all the answers and were talking to us only because the president wanted them to," Bair wrote in her recent book regarding Obama's top economic advisers. "Larry and Treasury Secretary Tim Geithner didn't seem to care about the political beating the president took on the hundreds of billions of dollars thrown at the big-banks bailouts and AIG bonuses, but ... I don't think helping homeowners was ever a priority for them."

That it was two prominent women with whom Summers clashed has not gone unnoticed.

http://www.huffingtonpost.com/2013/08/01/larry-summers-janet-yellen_n_3691052.html