First Take: Summers done in by two sets of critics

[Kber]

https://news.google.com/nwshp?hl=en&tab=wn#pcid=FRONTPAGE


For Larry Summers, two camps of rivals apparently proved to be one too many.

Everyone knew liberals didn't want the former Treasury secretary to be President Obama's pick to chair the Federal Reserve. They were sore about his remark as Harvard's president that women were less likely to excel at science. And they were suspicious of his role in Clinton-era financial deregulation -- especially the decision barely to regulate financial derivatives at all. That loosed a monster called the credit-default swap that forced the $85 billion bailout of AIG five years ago this weekend, and nearly brought down all of Wall Street with it.

More at link...

[DURHAM D]

1. Senator Warren's presence on the Banking Committee was enough

to do in that jackass.

Time she got the credit.

[Bluenorthwest]

3. Several Democratic members of the committee have been actively opposing the idea of

his nomination for months and doing so effectively. Jeff Merkley of Oregon was an early and strong voice against Summers. And of course Senator Warren.

[DURHAM D]

5. Yes - Senators Brown and Tester have also said NO

but I think Senator Warren was the first to take a public stand. At least she is the first Senator that I noticed stating absolutely what her vote would be.

Anyway, if these four had not spoken out I think the WH would have gone ahead (working behind the scenes with Wall Street friends) and tried to muscle his nomination to the floor.

[gopiscrap]

2. Good, I'm just glad he's out!

[libdem4life]

4. Liberals, Women and the Senate Banking Committee...that's a trifecta.

There were some mighty sticky claws in our financial system after the Bailout...to be sure.

But the hint that he'll stamp his petulant foot and not nominate the front-runner Ms. Yellen ... same three reasons ... is disturbing. The other possibilities named didn't seem highly credentialed for the job.