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View Diary: Larry Summers Must Go NOW! (65 comments)

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  •  Summers was very happy with deregulation in 1999 (1+ / 0-)
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    From the 1999 article reporting on the repeal of Glass-Stegall via the Gramm Act, signed at 2am in the last Clinton Congressional session:

    "Treasury Secretary Lawrence H. Summers said in an interview, "At the end of the 20th century, we will at last be replacing an archaic set of restrictions with a legislative foundation for a 21st-century financial system." The measure, he added, "would provide significant benefits to the national economy."

    I can just hear Summers today:  saying that since the US is headed for a minimum wage economy, that the nation's infrastructure, education system, and health care system need not be developed further since those on minimum wage would not need more than is present today.  That is, let the US system diminish to a level that equates to the upcoming low wage economy most Americans will have to deal with.  

    •  Sounds like you've got him pegged. (0+ / 0-)

      That's precisely something he'd say. He's a fascist - that's not hyperbole, he's a bona fide fascist! He views the common folk as disgusting little maggots to be studied and manipulated by wise and benevolent overlords. He cares nothing for individuals, only what's most "efficient." Efficient for whom? Doesn't matter. Sie sistem must be sie maximum efficient! Macht Snell!

      Seriously though, what I really can't stand about him and those like him is their fatalism. They're just like "X is going to happen, the international financial markets say so, and there's nothing that can be done to avoid it." Oh really asshole? Well hows about we shut down the international financial markets, and instead work on making things and improving our welfare, rather than enriching the fictional financial markets? Oh no, we can't do that! If we did that, then the ultra-rich might have to fly first class to the Riviera instead of charter! Oh, the horror!

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