Has the Clinton Admin person who was right (but ridiculed by Summers) been offered a job?

[Skwmom]

The only opposition from within the Clinton administration came from Brooksley E. Born who, as head of the Commodity Futures Trading Commission, dared defy Summers and Rubin, as well as Greenspan. In frequent appearances before Congress, she warned that the burgeoning derivatives trading "threatens our economy without any federal agency knowing about it." In reward for her prescience, Born, a highly regarded legal expert on derivatives, was treated to scornful attacks from the old boys' network, led (again) by Rubin, Greenspan and Summers, who questioned her competency and insisted it was she who threatened the stability of the market.

More about that brilliant genius - Lawrence Summers:
________________
Not if Robert Rubin or his protégé, Lawrence Summers, get to call the shots on the economy in President-elect Barack Obama's incoming administration. Both Clinton-era treasury secretaries deserve a great deal of the blame for the radical deregulation of the financial industry that has derailed the world economy. They both should, along with former Federal Reserve chief Alan Greenspan, perform rites of contrition and be kept at a safe distance from the leadership of our nation.

But it was Summers who most vehemently pushed for congressional passage of that drastic deregulation measure, the Financial Services Modernization Act, which eliminated the New Deal barriers against mergers of commercial and investment banks as well as insurance companies and stock brokers. Standing at his side as President Bill Clinton signed the legislation, Summers heralded it as "a major step forward to the 21st century" - and what a wonderful century it's proving to be.

It was also Summers who worked in cahoots with Enron and banking lobbyists, and who backed Republican Sen. Phil Gramm's Commodity Futures Modernization Act, which banned any effective government regulation of the newly unleashed derivatives market. The result was not only a temporary boon to Enron, which soon collapsed under its unbridled greed, but also to the entire Wall Street financial community.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/18/EDRI1479FT.DTL

The more I learn about Summers, the more I say :wtf: It's like putting "Good Job Brownie" in charge.

[MannyGoldstein]

1. I Believe That Obama Wants To Go - And Will Go - Hard Left

He's putting in rightists so they can poke holes in his instincts as he pushes left - he wants to know the holes in advance.

At least i'm praying mightily that this is the case...

[Mojambo]

3. That feels like an awfully thin plank of hope, but I'll join you in standing on it. n/t

[Skwmom]

4. Okay, but can't they at least be people who didn't play a major hand in

creating this debacle? I just don't get it. It simply defies logic.

[elleng]

2. Sorry you reminded me

about Brooksley Born!

Summers and Geithner (SP?) are said to work well together, whatever that means.

[Skwmom]

5. Why hasn't she been offered a job?

She's seems a lot brighter than the other duds.

[elleng]

6. Dunno.

Often 'brighter than the other duds' does one in.

I'd have to reread everyone's expertise; there very well may be room for her elsewhere, upstairs, downstairs, sideways, etc. LOTS of positions to fill.

[atimetocome]

7. YEs, as Director of the Nat. Economic Council. .......

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x7914775



crapola!!