Larry Summers is a Toxic Mess

Well, we are assuredly not alone in being very unimpressed with Change you can Believe in.

Check out what happened today at the Economic Club of Washington D.C.:

 

and look at this absurdity on dismissing derivatives (Credit Default Swaps), when he is a major reason deregulation happened:

 

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This is complete BS that "no one could

see it coming". What did human nature and desire for greed stop in 1990? People like Summers and Greenspan ignored history. Oh, no one saw that if you eliminate the safeguards that were in place for over fifty years that everything would be OK. People, particularly Wall Street, changed.

As for CDS, give me a break. When Enron came crashing down, I didn't hear anyone say maybe we should look at these unregulated markets. They didn't want to because everyone but Enron was making money.

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Remember this?

There was no way that Larry Summers could stay out of the "game". He had himself positioned in the primaries last year to be THE player, regardless if Hillary or BO was the nominee. But he is right, the world has changed since the late 90s. He was the trusted Goldman Sachs insider that every administration needs. Who could have known then that he was a pompous, misogynistic asshole? I'm pretty sure that a lot of Harvard alumni, especially women (including my daughter in law), were glad to see Larry go.

Larry Summers represents the ultimate Washington insider and epitomizes what is wrong with our government system. He is a prime example of why we do not live in a functioning democracy.

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no kidding, speaking of the ladies

That, i.e. U.S. domestic diversity, meritocracy is simply disappearing from the debate.

Women engineers have a cut rate of 52% on the job...black engineers are non-existent, I believe more than one traditionally black college cut their engineering degrees.

Older workers, good God, the age discrimination is beyond shocking and now claiming college is only for ages 18-22 is common place. (with so many layoffs, the college age should be dramatically increasing so people can modify their skill sets, it's opposite).....

I'm not so sure Summers was in line for Hillary's plans, you're probably right but Obama....well, I always said he was more Bill than Hillary was.

What can I say, I just am not surprised by any of this.

What I want to do is why does he have all of this accolades...I mean is being an economist a great career choice like executive? You can be dead wrong, have your recommendations defy all statistical evidence and historical data yet somehow still walk away with more prestige and millions?

Commongood, did you see you already picked up a fan raving about your writing? (I told ya so!)

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I did see it.

Yeah, I saw it and I feel really wonderful that so much discussion has followed my post. That is how this country will get back to fulfilling the promise for all citizens that it was founded on.

Even though BO talked about it during the election, I don't see him pushing us to the point where we, as a society, just discuss stuff and kick it back and forth. That was the first thing I noticed in English pubs. Everyone wanted to talk politics, philosophy, economics, immigration and UK vs USA. There was a lot of disagreement but it was always polite and usually informed and enlightening. Everyone was more than willing to listen to everyone else, regardless if they shared their point of view. That's why the lack of any honest discussion about the bank bailout, especially in light of so many high profile professionals questioning its veracity, is so profoundly disturbing. It just has the feel of being anti-democratic and immediately gets your radar up.

Ya know, whenever my buddies and I are tippin' a few and talking sports, I always maintain that the way to build a successful professional sports program is to select athletes who are good citizens first, regardless of their athletic rank or statistics. Same goes for government, IQ and credentials should take a back seat to character and common purpose. We need a whole lot more Elizabeth Warrens, I'm sure of that.

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