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Wed Jul 31, 2013, 06:11 PM

Obama Calls Summers Criticism Unfair in Capitol Meeting

By Kathleen Hunter and Michael C. Bender - Jul 31, 2013

President Barack Obama, asked about former Treasury Secretary Larry Summers as a candidate for Federal Reserve chairman, said Summers is being unfairly criticized in public debate about the selection, lawmakers said after a private meeting with the president.

In the meeting today with House Democrats, Obama also named former Fed Vice Chairman Donald Kohn and current Vice Chairman Janet Yellen as potential nominees to lead the central bank, said a Democratic aide who sought anonymity to discuss the private session.

The president “took a minute to stand up for Larry Summers,” said Representative Brad Sherman of California, following the meeting with House Democrats. Obama then met with Senate Democrats, and afterward Majority Leader Harry Reid said party members in his chamber will support the president’s choice for the Fed, “no matter who it is.”

Obama told House Democrats he hadn’t decided whom to appoint as Fed chairman -- though he said Summers was being unfairly criticized, Sherman said. People familiar with the search had previously said Summers and Yellen were the two leading contenders to replace Chairman Ben S. Bernanke, whose term expires Jan. 31.

Representative John Larson, a Connecticut Democrat, said the president was “very adamant in his defense of the service Larry Summers has provided.”

more...

http://www.bloomberg.com/news/2013-07-31/obama-says-summers-being-unfairly-criticized-lawmakers-say.html

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Reply Obama Calls Summers Criticism Unfair in Capitol Meeting (Original post)
Purveyor Jul 2013 OP
abelenkpe Jul 2013 #1
rhett o rick Jul 2013 #2
winter is coming Jul 2013 #4
rhett o rick Jul 2013 #5
winter is coming Jul 2013 #3
rhett o rick Jul 2013 #6
customerserviceguy Jul 2013 #7
Fumesucker Jul 2013 #8
customerserviceguy Jul 2013 #9

Response to Purveyor (Original post)

Wed Jul 31, 2013, 06:21 PM

1. This should go over well. Nt

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Response to Purveyor (Original post)

Wed Jul 31, 2013, 07:40 PM

2. I think TPTB are whispering "Summers" in his ear. Larry is one of their favorites. nm

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Response to rhett o rick (Reply #2)

Wed Jul 31, 2013, 07:43 PM

4. That alone should be a strong hint to look elsewhere.

If we don't change our basic approach to the Fed and Wall Street, another collapse is inevitable. Let's stop taking advice from the foxes.

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Response to winter is coming (Reply #4)

Wed Jul 31, 2013, 07:46 PM

5. But TPTB are in charge. When they whisper, the President obeys.

They whispered "Gen Clapper, Herr Mueller, Gen Alexander, and torturer Comey." And guess what?

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Response to Purveyor (Original post)

Wed Jul 31, 2013, 07:41 PM

3. If he thinks the criticisms of Summers are unfair, he hasn't been paying attention. n/t

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Response to winter is coming (Reply #3)

Wed Jul 31, 2013, 07:47 PM

6. You have to recognize that he see things from a different perspective. Summers is good for

the 1%. That's how he sees it.

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Response to Purveyor (Original post)

Wed Jul 31, 2013, 08:03 PM

7. He really doesn't have anyone around

to tell him the truth, does he?

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Response to customerserviceguy (Reply #7)

Wed Jul 31, 2013, 08:06 PM

8. I believe the position of court jester remains unfilled at this moment

Traditionally the jester was the one who could tell the king unpleasant truths by framing them as a joke.

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Response to Fumesucker (Reply #8)

Wed Jul 31, 2013, 08:15 PM

9. Quite true about the old time kings

But today, we have late-night monologues, surely a President could use them (and the strength of the laughter at each particular joke) as such.

I remember when inflation was raging in the early 1970's, and Johnny Carson went on to say, "I have no beef with Richard Nixon!" There are court jesters, one just needs to turn on the tube to find them.

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