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Old 09-16-2013, 05:05 PM  
HonestChieffan HonestChieffan is offline
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Larry Summers out.

So will Obama hang us with that old blue hair skank lib or is there hope?

Summer knew this is a death sentence and ran from Obama before he had the taint forever.
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Old 09-16-2013, 05:11 PM   #2
Cave Johnson Cave Johnson is offline
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Old 09-16-2013, 05:46 PM   #3
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Quote:
Originally Posted by HonestChieffan View Post
So will Obama hang us with that old blue hair skank lib or is there hope?

Summer knew this is a death sentence and ran from Obama before he had the taint forever.
That's a strange characterization of someone whose life dream and goal was to be Fed Chair.

He dropped out because democrats in the Senate weren't going to let him through.
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Old 09-16-2013, 06:42 PM   #4
HonestChieffan HonestChieffan is offline
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Quote:
Originally Posted by FD View Post
That's a strange characterization of someone whose life dream and goal was to be Fed Chair.

He dropped out because democrats in the Senate weren't going to let him through.
Sure
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Old 09-16-2013, 06:44 PM   #5
mlyonsd mlyonsd is offline
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I didn't agree with his stimulus crap but he was in favor of cutting off the almost free treasury bonds. I think we lost here.
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Old 09-16-2013, 07:12 PM   #6
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Quote:
Originally Posted by FD View Post
That's a strange characterization of someone whose life dream and goal was to be Fed Chair.

He dropped out because democrats in the Senate weren't going to let him through.
Elizabeth Warren in particular.

And it is a good thing. Summers is one of the architects of the financial crisis. **** having him as Fed chair.
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Old 09-16-2013, 08:58 PM   #7
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Quote:
Defecting Democrats doomed Summers bid for Fed job

By Rachelle Younglai and Alister Bull

WASHINGTON, Sept 16 (Reuters) - The death knell for Lawrence Summers' candidacy to lead the U.S. Federal Reserve came on Friday morning with a shock phone call message left for President Barack Obama's chief of staff, Denis McDonough.

The message was from Democratic Senator Jeff Merkley, a member of the Senate Banking Committee from Oregon and a vocal critic of the prospects of a Summers nomination for the central bank's chairmanship.

Merkley told the White House that there were now five Democrats on the committee, which would have to clear the nomination before a final Senate vote, who would oppose Summers, a former Treasury secretary under President Bill Clinton and a close confidante of Obama's.

Up until Friday, only two - Merkley and Senator Sherrod Brown from Ohio - had publicly signaled how they would vote.

But fierce Wall Street critic Senator Elizabeth Warren of Massachusetts had privately told the White House she was uncomfortable with the prospective nomination and, according to a Senate aide, Heidi Heitkamp of North Dakota also had concerns.

The surprise on Friday was not only the number of senators deciding to vote no but that one of them was centrist Democrat Jon Tester of Montana, whose opposition showed that concerns about the former Treasury secretary were not confined to the liberal wing of the party.

"Four seemed insurmountable. Five was just game over," said a Senate aide.

After Merkley called the White House, an Obama administration official called Tester, Tester's spokeswoman said. But the early afternoon phone call was too late to change his mind.

The five "no votes" on the committee posed a potentially unassailable obstacle for Summers. Democrats only have a two-vote majority on the panel and at least three Republicans were also expected to vote against Summers.

Summers dropped out of consideration for the top Fed job on Sunday, writing to Obama that any confirmation process would likely be acrimonious. People familiar with the situation said on Monday that Federal Reserve Vice Chair Janet Yellen had become the frontrunner now that Summers has withdrawn.
http://www.reuters.com/article/2013/...0HC1AJ20130917
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