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Larry Summers: Fox Guarding The Henhouse

Posted By admin On February 11, 2009 @ 4:39 am In Money Watch | Comments Disabled

George Washington’s Blog [1]
Wednesday, Feb 11, 2009

Lawrence Summers is the head of Obama’s National Economic Council, and as such oversees much of Obama’s economic policy.

Summers has a reputation in developing countries for being a nasty guy, having said [2] – as chief economist for the World Bank – that third world countries were “underpolluted”.

But more importantly, Summers is the guy responsible for:

  • Repealing New Deal era legislation [4] which separated investment banks from commercial banks, insurers and stock brokers, and which kept companies from becoming “too big to fail”

In other words, Summers is one of the main guys who got us into this mess. Expecting him to really shake up the financial system is like asking the fox to guard the henhouse.

Larry Summers: Fox Guarding The Henhouse  161008pptv2 [5]

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URLs in this post:

[1] George Washington’s Blog : http://georgewashington2.blogspot.com/2009/02/larry-summers-fox-guarding-henhouse.html

[2] said: http://www.usnews.com/articles/news/politics/2008/11/24/10-things-you-didnt-know-about-lawrence-larry-summers.html

[3] thirty-three-to-one fractional reserve banking margins: http://www.democracynow.org/2008/11/25/naomi_klein_robert_kuttner_and_michael

[4] were not regulated: http://www.thenation.com/doc/20081201/scheer

[5] Image: http://www.prisonplanet.tv/subscribe.html

[6] Obama defends Larry Summers against charges he is unfit to be Fed chairman: http://www.prisonplanet.com/obama-defends-larry-summers-against-charges-he-is-unfit-to-be-fed-chairman.html

[7] Larry Summers Pushes Public-Private Infrastructure Bank Scheme: http://www.prisonplanet.com/larry-summers-pushes-public-private-infrastructure-bank-scheme.html

[8] Fox Guarding The Henhouse: Ex-Goldman Sachs Exec To Oversee Bailout: http://www.prisonplanet.com/fox-guarding-the-henhouse-ex-goldman-sachs-exec-to-oversee-bailout.html

[9] Larry Summers End Game for America: http://www.prisonplanet.com/larry-summers-end-game-for-america.html

[10] Summers Skews the Playing Field for the Big Boys, then Blames Skyrocketing Inequality on a “Ruthless Economy”: http://www.prisonplanet.com/summers-skews-the-playing-field-for-the-big-boys-then-blames-skyrocketing-inequality-on-a-ruthless-economy.html

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