Friday, September 13, 2013

Pareene On Larry Summers

Let's honor Larry Summers' disastrous record: Name him Fed chair today! -
It is just about impossible to overstate the role of Larry Summers in the financial crisis.  If Obama nominates him we'll need the Senate to save Obama (and the rest of us) from his own poor judgment. 

"Laws and policies he championed directly led to the financial crisis, and the same laws and policies caused that crisis to kick off a global recession that we still have not crawled out of. He is more responsible than almostanyone else alive — it's him, Robert Rubin, Phil Gramm and Alan Greenspan, basically — for the severity of the crisis. I can't think of a better time to inexplicably reward Summers for his disastrous record than today, as news outlets everywhere revisit those miserable days of five years ago and sort through the aftermath. "

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