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Ear to the Ground

Summers Leaving White House Post-Midterms

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Posted on Sep 21, 2010
AP / Susan Walsh

Summers out: Barack Obama’s economic adviser Larry Summers is reported to be plotting his return to Harvard. Here, he participates in a question-and-answer session at the spring 2009 lunch meeting of the Economic Club of Washington.

President Barack Obama is reportedly going to lose another member of his economic advisory team, and a big one at that, after the midterm elections this fall. The Bloomberg news service brought word Tuesday that Larry Summers plans to leave the White House before the end of 2010 and will head back to Harvard.

Lest this information strike anyone as a welcome sign that the Obama administration is loosening its close ties to Wall Street, however, that’s not looking too likely. 

Update: President Obama confirmed the news later Tuesday about Summers’ coming departure.   —KA

Bloomberg:

Administration officials are weighing whether to name a prominent corporate executive to replace Summers to counter criticism the administration is anti-business, one person familiar with White House discussions said. White House aides are also eager to name a woman to serve in a high-level position, two people said. They also are concerned about finding someone with Summers’s experience and stature, one person said.

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By Hammond Eggs, September 22, 2010 at 8:01 pm Link to this comment

By mdgr, September 21
My not-so-subtle point is that Summers and Geithner are not the problem. Obama is. He’s the one who has to go.

Obama will be gone in 2012.  Summers, a premiere Warshington jackal, has already concluded that Barry is dead political meat.  He will now satisfy his unending appetite for thievery and corruption at some other location.  More rats will be jumping ship.  Obama will sip his wine and thumb through the pages of Martha Stewart Living, waiting quietly for the ignominious end to his short political career.

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By knute, September 22, 2010 at 1:56 pm Link to this comment
(Unregistered commenter)

A part of this Bizzaro world we live in, where up is down, wrong is right. Where we elect war criminals to lead our country instead of statesmen. Where we reward wall street with the people’s money after they, thru their greed worked against main street year after year and watch them give out even larger bonuses to themselves. Where all the CEO’s across america are paid a hugely disproportionate sums, enough where they only need work one or two years before they take their money and run. The welfare of the employess’s making it possible are disregarded at every turn. Where one of primary architects of that wall street theft of the middle class is soon heading back to Harvard to help grow a new crop of greedheads to join in the continued fleecing of our country untill we are just an empty shell of what we once were. Were very close to that point and this isn’t, nor has it ever been about politics, thats the distraction. Its about a class war against the middle class of our country by the wealthy few, the “New World Order” as Bush Sr. told us, and they are certainly winning. Our political leaders hollow cardboard cutouts, nothing more. They are there to keep us distracted during the short periods we take our attention off from the survivor series. Accountability is no longer even in our dictionary.

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By grumpynyker, September 22, 2010 at 10:59 am Link to this comment
(Unregistered commenter)

I know you phony progressives remember the times of
lynch mobs; just apply it to the Wall Street derivative
thieves/Ponzi-scheme con artists/Chicago-school MILTON
FRIEDMAN acolytes.  Need something entertaing on
TV/billboards.  You soft racists ain’t squeamish-string
up Summers/Geithner/Reich/Orszag/Bernanke et al.
ALREADY!!!!!!!!!!!!!!!!

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By samosamo, September 21, 2010 at 10:22 pm Link to this comment

****************


Good riddance summer f**ker. But what is this?

““Administration officials are weighing whether to
name a prominent corporate executive to replace
Summers to counter criticism the administration
is anti-business, one person familiar with White
House discussions said. White House aides are
also eager to name a woman to serve in a high-
level position, two people said. They also are
concerned about finding someone with
Summers’s experience and stature, one person
said.”“”
******************************

So instead of hiring someone with some initiative
to handle the financial terrorist whore houses, o
is once again faced with ‘not offending or
appearing anti-business’ which won’t make a
difference with those terrorists. So, it won’t be
anything more that replacing this creep traitor
with a clone of sorts of another creep traitor.
Damn ain’t o amazing? Not a done deal and he,
just like pelosi in 2006(impeachment off the
table), o will try to mollify his and this country’s
antagonists with just another pile of the same
shit.

There is no other more decisive evidence that o is
being told who to put where and when those who
want who they want in key positions. Other
words, as if it needs saying, o ain’t his own man
in his job of head of this country. May as well pull
bernie madoff out of the clinker and put him in
charge.

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By Inherit The Wind, September 21, 2010 at 8:21 pm Link to this comment

Is he “exploring other opportunities” or “spending more time with his family”?

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Allan Krueger's avatar

By Allan Krueger, September 21, 2010 at 7:42 pm Link to this comment

Why wait, Larry? GO NOW!

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By max, September 21, 2010 at 7:28 pm Link to this comment
(Unregistered commenter)

Can’t we arrest him instead?  The “bailout” of AIG was an illegal passthrough.

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By the worm, September 21, 2010 at 7:00 pm Link to this comment

so what

the new guy is of the same cloth

the person matters little

this administration is married to the wrong policies

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By call me roy, September 21, 2010 at 6:08 pm Link to this comment

Tick tock Barry

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By NC-Tom, September 21, 2010 at 5:31 pm Link to this comment

I suppose the revolving door between government and big business will kick
Summers sorry ass into some sweet corporate position at Goldman Sacks of Gold,
or some other similar firm…

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By mdgr, September 21, 2010 at 5:08 pm Link to this comment

Obama’s “loss” is only relative, Truthdig. It’s a transparent sop to the Dems right now, but after the election, Obama can elevate Rubin to fill Summer’s post. Or perhaps he will demote Geithner to fill Summers’ position and appoint “Hank” Paulson to the position of Treasury under the pretext of working hand in hand with a new Republican Congress.

My not-so-subtle point is that Summers and Geithner are not the problem. Obama is. He’s the one who has to go.

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By Amon Drool, September 21, 2010 at 4:22 pm Link to this comment

damn!!  what a scheer column (last wednesday’s) can do!!!  wink

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By M L, September 21, 2010 at 3:47 pm Link to this comment
(Unregistered commenter)

Summers was a disciple of Rubin and these snakes in suits are responsible for the worst financial fraud in history causing millions of American people to lose their homes, jobs and savings. These liars and thieves have no respect for human life, justice or the rule of law. They have used, abused, exploited and discarded the American People. It’s time we teach them to treat us with the dignity and respect we deserve.

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By dr wu, September 21, 2010 at 3:28 pm Link to this comment

Good riddance! Now, maybe Obama can get a jobs program going. To wit:stop Wall Street and corporate America from offshoring jobs and start an FDR-type jobs program just the way FDR did it (and it worked!) with deficit spending a la Keynes.
Still time to do something big before the 2012 elections and get yourelf reelected Mr. Obama.

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