Larry Summers may not be the shoo-in he thinks he is..

[monmouth3]

Campaign for America's Future

XXXXXX:

The rumor that Larry Summers is going to be nominated to chair the Federal Reserve looks suspiciously like a leak.

What other explanation is there when senior aides across the capital start whispering into their cellphones to journalists, "We're vetting Summers. Pass it on."?

Let me get straight to the point. Larry Summers' long record of supporting banks at the expense of working people and the economy as a whole should disqualify him, but somehow it has not.

He advocated for the repeal of Glass-Steagall, which paved the way for gigantic banking conglomerates that are too big to fail.
He blocked efforts to regulate derivatives, which Warren Buffett presciently called "financial instruments of mass destruction."
When the financial system crashed the real economy in 2008, he insisted banks be bailed out but not restructured and that executives keep their bonuses

The list goes on. Larry Summers has a long record of confusing the interests of big banks with the interest of the nation. Hundreds of thousands of individuals have already signed petitions rejecting his nomination. It is urgent that you join them. There is a "boys' club" in Washington that likes to make decisions in private. The process is underway. Only your intervention can stop it. Please join a growing coalition of Americans and demand the White House reject pressure to appoint Larry Summers chairman of the Federal Reserve.

Sincerely,

Robert L. Borosage
Co-Director, Campaign for America's Future

I had read where the other candidate (Yeltin (sp?) was not even being vetted. Could be a rumor..I hope..

[Warpy]

1. Unfortunately, they're still trying to paste the system he designed

together instead of taking the chance of reforming it and being faced with a calamity. Summers might be just the crook they need to do this for them.

They all think if they can paste it all together long enough, they'll take their own money and run.

Sadly, it never quite works out that way and their own money will evaporate along with ours.

[monmouth3]

2. Lord have mercy, I dislike him so much..n/t

[MannyGoldstein]

3. Nonsense. Only Toonces Summers can save us from

the havoc that Toonces Summers has inflicted on us.

[monmouth3]

4. HA! I need to research Toonces Summers...n/t