Skip to main content

Summers's withdrawal from consideration for Fed chief
Back on May 26, Edward Luce at the Financial Times offered the first inkling in the media that President Barack Obama would likely choose Larry Summers as chairperson of the Federal Reserve. He acknowledged that Summers had potential deficits, including a deep-seated abrasiveness. But, wrote Luce, "charm is overrated":
Worries about Mr Summers’ Senate hearings are also overblown. Among economists, he is seen as neither a hawk nor a dove. Republicans would be unlikely to question his credentials. In practice—and not just for the hearings—his reputation for neutrality would be an asset. The only danger would come from the left, where Democrats such as Elizabeth Warren, the senator from Massachusetts, could raise questions about Mr Summers’ central role in the financial deregulation of the 1990s. Valid though many of the criticisms are, they would be unlikely to derail his nomination.
For reference in future stories, Luce might think about conducting some interviews to get a better understanding of what Republicans are likely and unlikely to do nowadays. To be fair, the resistance from Democrats on the Senate Banking Committee that ultimately killed Summers's prospects was something few would have predicted in May. Or, for that matter, in June or early July when word in other media began spreading that Summers was the president's leading choice to replace the current chairman, Ben Bernanke, when his term is up at the end of January.

But that opposition did arise and those valid criticisms did derail his nomination. We owe thanks to Sens. Sherrod Brown of Ohio, Jeff Merkley of Oregon, Jon Tester of Montana and Elizabeth Warren of Massachusetts for making it clear to the White House by late last week that if Summers did get the nomination, he could expect a fight even to get the banking committee's approval, where the Democrats hold a three-member majority, much less gain approval in the Senate itself with its 54-46 margin.

With much of  the liberal base united in opposition to Summers, Brown circulated a letter to the president in support of Federal Reserve Vice Chair Janet Yellen without mentioning Summers's name. But the message was obvious. They weren't keen on Summers. It's unusual for senators to take such a stand before a nomination is made. That letter and other opposition sparked a vigorous defense of Summers by the president.

Meanwhile, the grassroots continue to hammer away. By this past weekend, 165,402 members of the Daily Kos community had joined an action against Summers. As Ben White and Patrick Reis noted at the end of July, the activists' "real complaint is that he is a centrist, Clinton-era retread ill-suited to steer an anemic economy back to health."

Before you read below the fold for more analysis, please sign our “thank you” petition to Senators Sherrod Brown, Elizabeth Warren, Jon Tester, and Jeff Merkley, the four Democrats on the Banking Committee whose leadership was essential in stopping Larry Summers from becoming the next chair of the Federal Reserve.

Sens. Brown and Merkley made it clear publicly they definitely would not vote for Summers if he were nominated. Warren is said to have informed the White House last week that she would oppose Summers. And on Friday, Tester said he would also vote against. Those defections meant that Republican votes would be crucial for confirmation and even in the unlikely event the White House could get those votes, there would be a fight on the floor of the Senate, with 16 letter-signing Democratic votes in question:

“In light of everything he needs from Democrats on the Hill in the weeks and months to come, the last thing he can afford is to antagonize them over the Summers nomination,” Jim Manley, a former senior aide to Senate Majority Leader Harry Reid, said of Obama in a telephone interview.

A tough confirmation fight that split Democrats was an unwelcome possibility, three aides familiar with the discussions said. That message was conveyed to the White House by the camp opposed to Summers, according to one of the Senate aides.

It's been argued in some quarters that there was no evidence that Summers was Obama's first choice and that the campaign to stop his nomination was a waste of energy or, at the very least, premature.

If Summers wasn't Obama's first choice, however, there would have been no need for the man's withdrawing his name from consideration. The president could merely have announced this week or next or anytime in the next couple of months that he had chosen Janet Yellen or one of any of several other possible candidates whose names have been mentioned.

Instead, Summers formally withdrew his name, giving the president an opportunity to send off with high praise one of the people who supported policies that contributed to or exacerbated the financial crisis. Anyone leaning toward shedding tears for Summers might remember that, unlike so many Americans who are still jobless nearly six years after the Great Recession began and five years after the financial implosion made it so much worse, he won't lack for lucrative employment.

Originally posted to Meteor Blades on Mon Sep 16, 2013 at 09:47 AM PDT.

Also republished by Daily Kos.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  HOORAY! (16+ / 0-)

    Time for Larry Summers to fade into history.  I doubt he will have any more pull in the financial community after this.

    I'm not sixty-two—I'm fifty-twelve!

    by Pragmatus on Mon Sep 16, 2013 at 09:51:47 AM PDT

  •  Could someone please explain why in the di-diddley (25+ / 0-)

    hail President Obama is so keen on Summers?  Besides the latter's sexism and abrasiveness, was he not one of the architects of the Great Recession in 2008?

    "Religion is what keeps the poor from murdering the rich."--Napoleon

    by Diana in NoVa on Mon Sep 16, 2013 at 09:54:12 AM PDT

    •  Payback for something, (12+ / 0-)

      hard to tell what though.  Summers is so roundly hated in the country it is baffling that Obama stuck with him so assiduously.

      I'm not sixty-two—I'm fifty-twelve!

      by Pragmatus on Mon Sep 16, 2013 at 09:56:50 AM PDT

      [ Parent ]

    •  Why? ... (18+ / 0-)

      because Summers is a flunkie of Bob Rubin .. and usually .. what Bob Rubin wants ... Bob Rubin gets(from Democrats)

    •  Maybe he has more in common with Summers (9+ / 0-)

      than some are willing to admit.  I think that's the case.  Obama isn't nearly as nice, compassionate, skilled or caring as we'd like to believe.

      "The international world is wondering what happened to America's great heart and soul." Helen Thomas

      by Betty Pinson on Mon Sep 16, 2013 at 10:08:08 AM PDT

      [ Parent ]

      •  You can take the POTUS out of U Chicago, but (9+ / 0-)

        you can't take the U Chicago out of the POTUS.

        Some men see things as they are and ask why. I dream of things that never were and ask why not?

        by RFK Lives on Mon Sep 16, 2013 at 10:20:19 AM PDT

        [ Parent ]

      •  Oh, he's plenty skilled. (5+ / 0-)
        Recommended by:
        annieli, theBreeze, Matt Z, Gurnt, shanikka

        To question his skill at this point is risible.

        But I do believe -- and I say this with admiration -- that he has a bit of Michael Corleone in him.

        How about I believe in the unlucky ones?

        by BenderRodriguez on Mon Sep 16, 2013 at 10:23:27 AM PDT

        [ Parent ]

        •  Why I question skill (3+ / 0-)
          Recommended by:
          atana, cybrestrike, smartalek

          Anyone who thinks we can fix our economy by taking money from the working class and giving it to the most wealthy is not smart.  There's plenty of empirical evidence over the years that proves trickle down economics is a joke.

          Any leader still clinging to those long discredited theories is not a smart person.  Opinionated, perhaps, but not smart and certainly not skillful.  

          "The international world is wondering what happened to America's great heart and soul." Helen Thomas

          by Betty Pinson on Mon Sep 16, 2013 at 10:27:56 AM PDT

          [ Parent ]

          •  Whose intelligence are you questioning... (3+ / 0-)
            Recommended by:
            Matt Z, Gurnt, shanikka

            President Obama's or Larry Summers'?

            Either way, you're kidding, right? Disagree with Summers all you want, but the man is clearly very far removed from stupid.

            And if you're now questioning Obama's smarts in addition to his skills, you're joking, right?

            How about I believe in the unlucky ones?

            by BenderRodriguez on Mon Sep 16, 2013 at 10:35:00 AM PDT

            [ Parent ]

            •  I question both (1+ / 0-)
              Recommended by:
              cybrestrike

              and yes, I do question Obama's smarts.  He delivers a good speech, but I haven't seen any proof through his terms in office that he is an intelligent person.

              I'm not one of those people who see Obama as a blank slate on which to project my fantasies about what a brilliant person he is.   If you watch what he does, instead of what he says, he's a different person.

              Some of it depends on how you define intelligence, but his decison-making skills have been consistently lacking. Sorry, but its just my opinion.

              "The international world is wondering what happened to America's great heart and soul." Helen Thomas

              by Betty Pinson on Mon Sep 16, 2013 at 11:14:20 AM PDT

              [ Parent ]

              •  We'll agree to disagree. (2+ / 0-)
                Recommended by:
                Gurnt, rlk

                Just wondering, though: Did you write this comment in 2007?

                President Obama's still a "blank slate" to you? Really? After five years in office and a list of remarkable achievements?

                You also write, "If you watch what he does, instead of what he says, he's a different person."

                No, I'm sorry, but he's pretty much done exactly what he set out to do as a candidate in 2008, and the facts back me up. Do I really need to list for you his 2008 campaign promises and how he's gone about achieving them?

                Please keep on living in your fantasy world where Barack Obama is a blank slate of questionable intelligence and have yourself a fine day.

                How about I believe in the unlucky ones?

                by BenderRodriguez on Mon Sep 16, 2013 at 11:35:07 AM PDT

                [ Parent ]

                •  In 2007 (1+ / 0-)
                  Recommended by:
                  smartalek

                  he was an unknown quantity to me.  His speeches didn't say a great deal to me. They were very vague, full of clever but simple rhetoric.  I knew he was being careful to say things that would inspire voters without giving any real information about what he believed or what he was likely to do.  He was simply using vague language to say what he thought would appeal to the largest number of people.  That's pretty much what most modern politicians do and Obama was no different in that respect.

                  Through his terms in office, I've always hoped he would live up to some sort of transformational promise, but that hasn't been the case.  He's a status quo kind of guy.  Once he dealt with staunching the Wall Street crisis, he's pretty much just maintained status quo.

                  Because health care reform was such a major issue in the 2008 campaign and had so much momentum behind a couple of reform plans, he went along with it.  Most of the work crafting ACA was done in the House and Obama used his influence in the Senate to pare away and weaken some of the better components.  That was a team effort, led by insurance industry executives working temporarily in the Senate and later for Obama in HHS.  We are now struggling with some of those changes they made, primarily the rules that farmed out so much control of the program to states.

                  Obama has surrounded himself with advisors like Summers who prevented some truly good and innovative changes in public policy.  That he's continued to stick with those bad actors tells us that he agrees with them.  A lot of mistakes have been made, particularly those in economic policy that could have brought us a stronger, faster recovery.

                  "The international world is wondering what happened to America's great heart and soul." Helen Thomas

                  by Betty Pinson on Mon Sep 16, 2013 at 12:23:26 PM PDT

                  [ Parent ]

              •  LOL! (0+ / 0-)

                Oh man, that's some funny shit right there!

                I'd love love LOVE to see the list of your accomplishments! Oh, that would be something. We could compare your CV to Obama's, and then go through accomplishments, tit for tat.

                Oh the sanctimony! The ego! The presumption! The arrogance!

                Performance art, right? It can only be!

                ROFL!  Bravo!!!

                Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

                by Gurnt on Mon Sep 16, 2013 at 11:42:00 AM PDT

                [ Parent ]

                •  Obama works for all of us (1+ / 0-)
                  Recommended by:
                  genocideisnews

                  as does any POTUS.  He's accountable to us, we are not accountable to him.  He chose to run and was elected and as such is subject to criticism from the people whose lives and communities have been affected by his decisions.

                  The same applies to any elected official, including members of Congress.  They work for us and we have every right to demand results.  

                  "The international world is wondering what happened to America's great heart and soul." Helen Thomas

                  by Betty Pinson on Mon Sep 16, 2013 at 12:26:19 PM PDT

                  [ Parent ]

                  •  Yup, performance art (0+ / 0-)

                    Because this reply has nothing to do with the idiotic opinion that Obama is not a bright guy.

                    Maybe by smart you mean "someone who listens to ME ME ME!!!"? Obama was elected to do a job using his best judgement, judgment that has served him well (he IS President, and has racked up an impressive list of accomplishments, while you have....?), not cater to the whim of every yokel with internet access and an opinion, no matter how highly you think of yourself.

                    But please, do continue with your performance, it's pretty funny!

                    Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

                    by Gurnt on Mon Sep 16, 2013 at 01:40:36 PM PDT

                    [ Parent ]

                    •  Lying about Social Security is smart? (0+ / 0-)

                      Believing in supply side, Reagan voo doonomics is smart?   Bailing out banks without holding criminal executives is smart?  Watering down financial regulations so the same financial collapse can happen all over again is smart?

                      You really don't want me to keep listing these mistakes, do you?

                      "The international world is wondering what happened to America's great heart and soul." Helen Thomas

                      by Betty Pinson on Mon Sep 16, 2013 at 05:28:01 PM PDT

                      [ Parent ]

        •  Take the Canoli, please /nt (6+ / 0-)

          Warning - some snark may be above‽ (-9.50; -7.03)‽ eState4Column5©2013 "I’m not the strapping young Muslim socialist that I used to be" - Barack Obama 04/27/2013

          by annieli on Mon Sep 16, 2013 at 10:28:45 AM PDT

          [ Parent ]

      •  He's no feminist (1+ / 0-)
        Recommended by:
        Betty Pinson

        My heart sank when I heard that Michelle was going to be a "traditional First Lady" - i.e. not one of those uppity Hillary Clinton types. No "two for the price of one" in this administration...

      •  or just maybe Betty (1+ / 0-)
        Recommended by:
        OleHippieChick

        President Obama floated a name out there he had no intent on nominating because it would give a cause for someone like Elizabeth Warren (who by the way wouldn't be where she is without Obama's help and trust in her to run the CFPB) and other up and coming progressives.   A cause that they could use to get onto the corporate media because it has the sound of being critical of the President.  

        Also, and this is the part I like best these days, is it draws out the extremes of both sides in their full-on attack mode, aligns the hard core liberal factions with the libertarians and tea-party nuts in their outrage.  Problem is, when the issue becomes fully vetted, when the nomination is not made, when the "scandal" becomes inane, when the war doesn't begin, the people attacking are the ones left in the spotlight with all their hatred, vitriol, and wasted passion.  

        All they have left in the end are the personal attacks on the President's character and his daily life and past history clearly shows that to be an absurd notion.  

        Rant and rave all you want Betty.  It simply isn't a diary anymore without one of your carefully placed acidic attacks.

  •  The Question is: (5+ / 0-)
    Recommended by:
    Shockwave, kharma, shoeless, theBreeze, Matt Z

    Why did President Obama want him in the first place?

    "Politics is the entertainment division of the military industrial complex." - Frank Zappa

    by Kdoug on Mon Sep 16, 2013 at 10:00:35 AM PDT

  •  Patting myself on the back, feel free to do the (8+ / 0-)

    same.

  •  We need to keep our eyes on the ball (16+ / 0-)

    There are many Summers wannabes out there.

    Daily Kos an oasis of truth. Truth that leads to action.

    by Shockwave on Mon Sep 16, 2013 at 10:03:47 AM PDT

  •  Dem Senators deserve praise, but so does Obama (10+ / 0-)

    It's nice to have a President who is opening to not only listening to all points of view, but also changing his mind.

    I have no idea if Obama had his heart set on Summers and frankly no one here knows, despite the rumors and speculation that it was a done deal.

    What I do know is that Obama is apparently quite open to advice and consent from his Colleagues in the Senate, and that's a good thing.

    Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

    by Gurnt on Mon Sep 16, 2013 at 10:04:11 AM PDT

    •  He deserves no praise for this debacle. (6+ / 0-)
      I have no idea if Obama had his heart set on Summers and frankly no one here knows, despite the rumors and speculation that it was a done deal.
      Read the diary --
      If Summers wasn't Obama's first choice, however, there would have been no need for the man's withdrawing his name from consideration. The president could merely have announced this week or next or anytime in the next couple of months that he had chosen Janet Yellen or one any of several other possible candidates whose names have been mentioned.
      And then this gem from you:
      What I do know is that Obama is apparently quite open to advice and consent from his Colleagues in the Senate, and that's a good thing.
      He didn't have the votes. He had no choice.
      That's not "open to advice and consent".
      •  It's the epitome of advise and consent (1+ / 0-)
        Recommended by:
        Matt Z

        Of course he had a choice.

        I disagree with the diarist, obviously. I can think of other reasons to withdraw, even if he wasn't the first choice, not the least of which is perhaps it was becoming a distraction, there was opposition, and Obama didn't have his heart set on the guy to begin with.

        Unless you believe you can read Obama's mind, you don't have a clue, and neither do I what motivated anyone in this process. All we know is once again, it has an outcome progressives should applaud, and Obama was involved and yet many continue to want to not only decline to give him any credit, but somehow deign to know his heart and declare he always had bad intent anyway.

        Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

        by Gurnt on Mon Sep 16, 2013 at 10:49:43 AM PDT

        [ Parent ]

        •  I've given praise to Obama on quite a few... (2+ / 0-)
          Recommended by:
          cybrestrike, CenPhx

          ...things over the past 56 months. But what specifically should I give him credit for in this case?

          Accepting Summers's withdrawal of his name from consideration?

          Don't tell me what you believe, show me what you do and I will tell you what you believe.

          by Meteor Blades on Mon Sep 16, 2013 at 10:58:34 AM PDT

          [ Parent ]

        •  This is Fantasy Hero Worship (0+ / 0-)

          Obama had no choice because the Summers nomination  wasn't even going to make it out of the Banking Committee.

          The votes weren't there.

          It wasn't going to happen - no matter what Obama did.

          Game over.

          Final.

          Kaput.

          Zip.

          •  Which would make having him drop now a smart move (0+ / 0-)

            So it wouldn't continue to be a distraction.

            And AFAIC, if he was my first, second or last choice, the same would apply.

            So, Your point is?

            Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

            by Gurnt on Mon Sep 16, 2013 at 01:42:35 PM PDT

            [ Parent ]

            •  The move was made for Obama - he had no options (0+ / 0-)

              That means he had NO CHOICE - no move to make.

              There was nothing else he could do.

              Checkmate.

              Game over.

              Get it? Game over?

              The game was over BEFORE Summers released his "I-don't-wanna-play" letter.

              You can't quit if you've already been fired. Get it?

              •  How silly and facile, of course he still had (0+ / 0-)

                Options!  LOL!   He could have fought and tried to wrangle votes , assuming he really wanted him.  He could have nominated someone else without Summers dropping.  There's always options.

                Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

                by Gurnt on Mon Sep 16, 2013 at 04:37:10 PM PDT

                [ Parent ]

                •  How uncomprehending of the real world (0+ / 0-)
                  He could have fought and tried to wrangle votes
                  No - the votes were not there. No matter what he did the votes were not there. Period. That's reality.
                  It might make you feel better not to see the reality of the situation but that doesn't make it any less real.
                  He could have nominated someone else without Summers dropping.
                  What does that even mean? How is that idea even connected to the real world?
                  There's always options.
                  On fantasy planet Grunt maybe anything is possible. But the rest of us have to deal in reality where there are not always options.
                  •  LOL! Oh Dear, Umm, In The Real World, Obama (0+ / 0-)

                    Is achieving accomplishment after accomplishment, despite people on the internet who continue to gripe despite getting exactly what they asked for!

                    Once again, he delivers a decision the left should  be universally.ecstatic about, and dead.enders once again pretend he had no real part in it! Cest lavie!

                    Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

                    by Gurnt on Mon Sep 16, 2013 at 05:25:16 PM PDT

                    [ Parent ]

                    •  Fantasyland must be pleasant this time of year (0+ / 0-)

                      With dancing unicorns and flying dolphins.
                      And just think - Obama can do no wrong!
                      When all options have been removed and Obama is left with no other choice and he is forced to do something he never wanted to do - then... just like magic... Viola! He always wanted to do it in the first place!
                      It's really true! If you just click your heels together and repeat, "Obama can do no wrong. Obama can do no wrong. Obama can do no wrong."

                      Bwaaaaahahaha!

                      •  LOL! So in your world real accomplishments are (0+ / 0-)

                        fantasies?

                        Who said anything about Obama doing no wrong? If I say he accomplishes goals that means "he does no wrong!"?

                        How do you get through the day misconstuing what people say so horribly?

                        "Would you like cream and sugar with your coffee sir?"

                        "What did you say about my mother??!!!"

                        What an interesting life you must lead!

                        Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

                        by Gurnt on Tue Sep 17, 2013 at 07:41:32 AM PDT

                        [ Parent ]

                        •  I love your disconnect from reality! (0+ / 0-)
                          He could have nominated someone else without Summers dropping
                          That's such a sweet delusion.
                          There's always options.
                          Just wish upon the star to the right - with all your might. LOL
                          He could have fought and tried to wrangle votes , assuming he really wanted him.
                          That's so cute! He had a better chance of tossing a lasso and pulling down the moon. LOL
                          Unless you believe you can read Obama's mind, you don't have a clue, and neither do I what motivated anyone in this process.
                          Your next post:
                          Well, my assumption is he asked for Summers to drop out.
                          It's entertaining watching you criticize others for "reading Obama's mind" while you base you entire premise on your assumption of Obama's actions and mind set.
                          It's like watching a dog chase it's own tail.
                          Go doggy go!
                          •  What a world you must live in! (0+ / 0-)

                            Everthing must move in one direction.

                            "Honey, you have to turn right here"

                            "It's impossible! I can only go Left!! I have no other options!"

                            "Why?"

                            "Because...because...because I say so!"

                            ROFL!

                            Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

                            by Gurnt on Tue Sep 17, 2013 at 09:50:19 AM PDT

                            [ Parent ]

      •  I don't get it (1+ / 0-)
        Recommended by:
        Gurnt
        If Summers wasn't Obama's first choice, however, there would have been no need for the man's withdrawing his name from consideration.
        How would Summers know?  Obama's not posting everyone's rankings on a board outside his office.
    •  done deal (2+ / 0-)
      Recommended by:
      Gurnt, Matt Z

      It was totally a done deal.  A bunch of writers no one on this site respects said it was going to happen.  And since it was bad news about the President, it had to be true!

    •  That's what people voted for. (1+ / 0-)
      Recommended by:
      Gurnt

      It's odd how many people don't get it. Or they pretend not to get it because bashing Obama is too much fun. You don't vote for a President because you expect him/her to do everything you want. You vote for someone who will respond to the movement when we apply grassroots pressure.

  •  Listen MB, (6+ / 0-)

    I'm as pleased as anyone that Summers is out of the running. I loathe the man.

    Still, you fail to even recognize that President Obama is a proponent of the grassroots: "change happens from the bottom up".

    I disagree with your paragraph beginning: "If  Summers wasn't Obama's first choice...". It seems we allow our own authority figures to divine Obama's thoughts and intentions when he says "I haven't made up my mind".

    How is this crashing the gate when we just allow our own authority figures to create a narrative based on wishes, biases and speculation to fill the 24/7 gap because the process is taking too long.

    How is that "Crashing the Gates"?

    •  Obama is not a proponent of grassroots change (11+ / 0-)

      not when it comes to influencing public policy, only electoral activity.  Grassroots action pleases him when its focused on getting him and his cohorts in office, but it ends there.

      "The international world is wondering what happened to America's great heart and soul." Helen Thomas

      by Betty Pinson on Mon Sep 16, 2013 at 10:10:59 AM PDT

      [ Parent ]

      •  You never miss a single opportunity to (1+ / 0-)
        Recommended by:
        Gurnt

        bash the President (and that is putting it politely). He has made quite a few decisions I don't like/disagree with, but he has dome some good things, too. Who would you have voted for instead? Well, good luck with whoever your candidate of choice is (the one who will meet all your demands and expectations) in the next election cycle, but your ceaseless negativism, bitterness and complaining about this administration are not helpful, and after several years of this - just plain boring. I think everyone registered on this site, all million of 'em, have gotten the message by now that you hate this President, but do you ever have anything nice to say? About anything? It sure would be a refreshing change and better for your health. Carrying all that negativity around must be depressing.

        „Wer kämpft, kann verlieren. Wer nicht kämpft, hat schon verloren.“ - Bertolt Brecht

        by translatorpro on Mon Sep 16, 2013 at 10:32:00 AM PDT

        [ Parent ]

        •  None of that (5+ / 0-)

          deals with the question of whether Obama welcomes the opinions of the grassroots about policy.  He doesn't.

          Reasonable suspicion? How can being wrong 98.6% of the time ever be reasonable?

          by happymisanthropy on Mon Sep 16, 2013 at 11:01:29 AM PDT

          [ Parent ]

          •  He may solicit it (0+ / 0-)

            but he doesn't usually respond to it unless he thinks the political backlash is beyond his ability to control through messaging.

            "The international world is wondering what happened to America's great heart and soul." Helen Thomas

            by Betty Pinson on Mon Sep 16, 2013 at 12:28:58 PM PDT

            [ Parent ]

          •  We are a tiny minority in the vast United States, (0+ / 0-)

            (and I'm not even IN the US anymore) and he is in a bubble surrounded by advisors because he and his family are in danger of their lives every time they step outside of the White House - how conducive can that be to getting a fair picture of the kinds of things regular Americans have to deal with on a daily basis? Frank Rich had an excellent essay a while back on how DC has coopted the administration, and some reasons. I don't put all the blame on the President, as some here do, but I do fault him for his choice of some of his lousy advisors. BUT I can't say that anyone else could do anything differently under those conditions.

            The Frank Rich article is here:

            http://nymag.com/...

            There's a lot of work to be done, and bashing the President on a blog is not accomplishing any of it.

            „Wer kämpft, kann verlieren. Wer nicht kämpft, hat schon verloren.“ - Bertolt Brecht

            by translatorpro on Mon Sep 16, 2013 at 01:32:58 PM PDT

            [ Parent ]

            •  He chose to shut down (1+ / 0-)
              Recommended by:
              smartalek

              the 50 state strategy and replace it with OFA.  Not that the state parties are paragons of responsiveness, but it's hard to imagine a system more perfectly engineered to leverage grassroots energy while completely stripping them of any directional influence than OFA.

              Reasonable suspicion? How can being wrong 98.6% of the time ever be reasonable?

              by happymisanthropy on Mon Sep 16, 2013 at 01:48:42 PM PDT

              [ Parent ]

              •  Well, do what you can. Take action. (0+ / 0-)

                Join OFA and show them how to do things better, or Howard Dean's DFA, if you like them better. Wasting time complaining on a blog isn't changing anything -  either for better or for worse. THAT is the real point.

                „Wer kämpft, kann verlieren. Wer nicht kämpft, hat schon verloren.“ - Bertolt Brecht

                by translatorpro on Mon Sep 16, 2013 at 03:48:30 PM PDT

                [ Parent ]

        •  When a Dem POTUS campaigns to cut SS (1+ / 0-)
          Recommended by:
          smartalek

          and  spends years of his presidency trying to convince the public of lies and misrepresentations about its relation to the national debt, he loses my respect and trust.  Sorry, that one was a deal breaker.  When his team uses messaging that attempts to use myths to turn younger people against the elderly to accomplish this goal, well ugh.

          It says so much about the kind of person he is and what he thinks about elderly people who are struggling to get by on fixed incomes.  That he pursued this goal for several years of his presidency is worse.   Surely he knows his talking points linking SS with the deficit are false and that the Chained CPI represents real cuts for low income elderly people.  Maybe not.

          "The international world is wondering what happened to America's great heart and soul." Helen Thomas

          by Betty Pinson on Mon Sep 16, 2013 at 12:37:48 PM PDT

          [ Parent ]

          •  Maybe that is all true in your world view, and I (0+ / 0-)

            do agree with you on some things, but not with your method of dealing with it, i.e. complaining bitterly and at every opportunity on a website, which  is not going to change anything, and is surely hurting you more than accomplishing anything else. You seem to have a lot of passion that could be used for good, and it 's a shame to throw it down a bottomless pit.

            „Wer kämpft, kann verlieren. Wer nicht kämpft, hat schon verloren.“ - Bertolt Brecht

            by translatorpro on Mon Sep 16, 2013 at 01:18:09 PM PDT

            [ Parent ]

            •  LOL (0+ / 0-)

              Thanks for your concern, but I'm very busy with other political and advocacy activities.

              Over the last 15 years, Blue Dog/DLC/Third Way conservatives like Obama have done a great deal of damage to the efforts of activists promoting good public policy.  ConservaDem influence, now waning, in the Dem Party has brought a great deal of misery, suffering and even death to innocent Americans, some of them my personal friends.

              So yes, my public policy advocacy work pushes me to keep educating fellow Democrats that some of our Dem elected officials are doing great harm and need to be purged from public office.  The GOP is bad enough, but we'll never get this country back on track unless we rid government of those from either party who sell out to corporations and destroy lives.

              "The international world is wondering what happened to America's great heart and soul." Helen Thomas

              by Betty Pinson on Mon Sep 16, 2013 at 04:09:27 PM PDT

              [ Parent ]

      •  So there should be no goal (1+ / 0-)
        Recommended by:
        Gurnt

        of trying to get and stay in office for Obama and fellow Democrats?  Hmm, let's contemplate that idea for awhile and compare it to the clearly stated goals of DailyKos.  Maybe your statement says more about you than Obama.  If Betty's grassroot cause (and in reading tons of your stuff, I really am not sure what that is) isn't the top of Obama's priority list then he's pond scum.

        •  Obama isn't up for re-election (1+ / 0-)
          Recommended by:
          smartalek

          so his political prospects aren't relevant.

          We do need to focus on reforming our own party and getting it to focus ,on solving real problems - like really fixing the economy and reaching full employment again.

          So, yes, we have to try to influence the people who have the power to make these changes, other than Obama.  At this stage, he really has no incentive to change direction.

          "The international world is wondering what happened to America's great heart and soul." Helen Thomas

          by Betty Pinson on Mon Sep 16, 2013 at 12:32:04 PM PDT

          [ Parent ]

    •  My narrative is based on success in the campaign.. (18+ / 0-)

      ...to keep Larry Summers out of the chairman's seat at the Fed, a campaign some folks said we shouldn't even wage because nobody knew who the president had as a first choice, just as we were told when Chuck Hagel's name came up as first choice.

      Don't tell me what you believe, show me what you do and I will tell you what you believe.

      by Meteor Blades on Mon Sep 16, 2013 at 10:29:50 AM PDT

      [ Parent ]

    •  The White House was selling him in the media. (0+ / 0-)

      There's nothing to divine here. Larry Summers was being pushed to reporters as the President's man. When that position came under attack, the President defended it privately and publicly. He's never made a similar defense of Ms Yellen after the same pro-Summers campaign un-ironically claimed she lacked Mr Summers' experience cleaning up a crisis.

      "The Democratic Party is not our friend: it is the only party we can negotiate with."

      by 2020adam on Tue Sep 17, 2013 at 01:07:23 AM PDT

      [ Parent ]

  •  I find it hard to believe (10+ / 0-)

    that anyone, anywhere, is inclined to shed tears for Larry Summers. It seems like even his friends don't actually like him.

  •  Coming on the heels of Syria I would postulate (6+ / 0-)

    They polled on Summers while trying to twist arms for the attack vote.

    I want 1 less Tiny Coffin, Why Don't You? Support The President's Gun Violence Plan.

    by JML9999 on Mon Sep 16, 2013 at 10:06:16 AM PDT

  •  Now he can go back to espousing the economic (14+ / 0-)

    benefits of dumping toxic waste in poor countries.  He's a complete jackass.

    To believe that markets determine value is to believe that milk comes from plastic bottles. Bromley (1985)

    by sneakers563 on Mon Sep 16, 2013 at 10:12:13 AM PDT

  •  Another good reason to oppose Summers. (3+ / 0-)
    Republicans would be unlikely to question his credentials.

    The problem with political jokes is they get elected.

    by shoeless on Mon Sep 16, 2013 at 10:15:20 AM PDT

  •  If it's just another neoliberal (2+ / 0-)
    Recommended by:
    Zack from the SFV, smartalek

    it won't have made a difference.  And as of yet, neoliberals are all Obama has appointed to any economic position of significance.  I have concluded the elite neoliberal world really is all he knows on that entire plane.

    Clap On, Clap Off, The Clapper!

    by ActivistGuy on Mon Sep 16, 2013 at 10:16:12 AM PDT

  •  Stock market approves. (2+ / 0-)
    Recommended by:
    litho, theBreeze

    I always check the "news" function at Finviz to see why the market is up, down, or sideways. The opinion today is that it's due to Summers withdrawing.

    Ceiling Cat rules....srsly.

    by side pocket on Mon Sep 16, 2013 at 10:18:38 AM PDT

  •  We have too many "old boys club" members (5+ / 0-)

    in this administration. It's time for a woman to run the Fed.

  •  Can't remember who said it on Morning Edition (7+ / 0-)

    today, but the quote was that to select Summers the president would have to "pass over a more qualified woman to select a less qualified man."  It's exactly that kind of criticism that was devastating to his candidacy, though his links to Citibank that came out over the weekend couldn't have helped any...

    The efforts to repeal Obamacare are the GOP Abort Obamacare Act. lynneinfla

    by litho on Mon Sep 16, 2013 at 10:19:51 AM PDT

  •  I am so proud of this community. (12+ / 0-)

    As Elizabeth Warren has said, we need a 21st century Glass-Steagall act. Let's get to work!

    "Life is short, but long enough to get what's coming to you." --John Alton

    by Palafox on Mon Sep 16, 2013 at 10:20:43 AM PDT

    •  Yes and Yes Warren has that on the agenda! (0+ / 0-)

      Let's help make some noise;
       

      Sens. John McCain and Elizabeth Warren are fighting to bring back legislation introduced in the post-Depression 1930s, which separated commercial banks from investment banks and ensured that large investment firms couldn’t make risky bets with the deposits of average Americans.
      The original legislation, called The Banking Act of 1933 but commonly referred to as Glass-Steagall, was partly repealed by 90 senators in 1999 and signed out of law by President Bill Clinton. Fourteen years later, McCain and Warren, along with Democrat Maria Cantwell and Independent Angus King, Have introduces the “21st Century Glass-Steagall Act”
      (short commercial – sorry)
       transcript @ link
      Story @ link:  http://tv.msnbc.com/...
  •  The fact that four Democratic Senators (13+ / 0-)

    actually stood up to this administration is a very good thing to see.  Clearly there are at least 4 on the Senate Banking Cmte. who listened to their consciences and refused to "go along to get along".  How this administration could possibly think that putting Summers in the Fed Chair position was good for this country defies logic.  His resume and long history of words and actions made him utterly unfit to be in that position.  I am grateful for all Democratic Senators who made it clear to the White House that they would not support Summers' nomination and really proud of all 164,000+ of us who signed the DailyKos petition! That's a very strong message when so many signed the petition.

    "A voice is heard in Ramah, weeping and great mourning, Rachel weeping for her children and refusing to be comforted, because they are no more." - from the prophet Jeremiah

    by 3goldens on Mon Sep 16, 2013 at 10:23:36 AM PDT

  •  It was ridiculous for Obama to even consider (0+ / 0-)

    Summers for the job.  Unless Summers had something on him.  Obama had to know that confirming Summers would be a stretch.  

  •  Ding Dong! (8+ / 0-)

    Quite frankly, Lawrence Summers' conflicts of interests would be astounding.

    He knows it and so do we.

    In a chart, the world can see SUMMERS CONFLICTS OF INTEREST

    Lawrence Summers

    If you DOUBLE click the pic it will take you to the interactive Muckety map, where you click on each item.

    Here's Janet Yellens

    Janet Yellon

    If you dig you will find that both are members of the Council of Foreign Relations, founded by

    Bank of America Merrill Lynch
    Chevron Corporation
    Exxon Mobil Corporation
    Goldman Sachs Group, Inc.
    Hess Corporation
    JPMorgan Chase & Co
    McKinsey & Company, Inc.
    PepsiCo, Inc.
    The Nasdaq OMX Group
    You can view the esteemed officers and directors here.

    It's difficult to be happy knowing so many suffer. We must unite.

    by War on Error on Mon Sep 16, 2013 at 10:25:33 AM PDT

  •  Kabuki theater (2+ / 0-)
    Recommended by:
    roundhead, OleHippieChick

    Why does anyone think Summers was the front-runner for the Fed job?  Because of anonymous tips "leaked" to hack "journalists."  And that's it.  That and the deep insight those same hacks have into Obama's psyche that leads them to constantly get everything wrong.

    I know this victory diary is supposed to be a pat-on-the-back for all of us who believe in the progressive cause, but they strike me as terribly deflating.

    Why are we so quick to believe the worst about our President?  When the press is reporting good news (like the rumors of a deal to avert a strike on Syria), skepticism abounds.  When the press is reporting bad news (like the inevitability of a Summers appointment), this site is full of credulous the-sky-is-falling diaries.

    Do you know who Obama is going to appoint after Bernanke leaves?  No.  No one does.  It's likely that Summers himself didn't know.

    You want to talk about Kabuki theater?  This is it.

    •  Just like the rumors about appointing Chuck Hagel (5+ / 0-)

      or the rumors about appointing James Comey?

      They're just rumors until the votes have already been lined up in the Senate.  By the time a nomination is officially announced, it's too late to stop it.

      Reasonable suspicion? How can being wrong 98.6% of the time ever be reasonable?

      by happymisanthropy on Mon Sep 16, 2013 at 11:07:32 AM PDT

      [ Parent ]

      •  I seem to remember a lot of resistence to Hagel (0+ / 0-)

        on this site and elsewhere.  And yet he was nominated shortly after his name was floated despite fervid resistance from the left.  

        Somehow Summers' name was floated before Hagel's and yet nothing has happened.

        By the time a nomination is officially announced, it's too late to stop it.
        Of late, it seems like once Obama has decided who he wants it's too late to stop it.
    •  Kabuki it may be (1+ / 0-)
      Recommended by:
      smartalek

      ... but in this case, the plot of the little Kabuki skit has a happy ending for our side.

      Consider a different Kabuki storyline, like this one: 1) Likelihood of Summers' nomination floated through anonymous leaks. 2) Progressives and liberals howl in protest. 3) Ritual pretense from White House of listening to and considering progressive/liberal point of view. 4) Pundit chatter to the effect that the Democratic left is so disagreeable and un-serious. 5) Summers nominated and confirmed, with only Bernie Sanders and Rand Paul voting against.

      We've seen more than enough versions of that second Kabuki skit by now. I like the "Summers withdraws in the face of withering criticisms from liberals and progressives" plot line a whole lot better.

      •  so... Hagel? (1+ / 0-)
        Recommended by:
        mangusta

        as the reply above you helpfully points out.  Summers and Hagel, two parallel stories, with equal outrage on this site to both men.  Except one name is nominated and accepted over a two-week period and the other name languishes for months.

        Here at DKos this is somehow evidence of the power of the liberal blogosphere.  To my mind it suggests that we bloggers don't have any idea what's actually going on.

        I think if Obama wanted Summers as Fed Chief, we'd be watching confirmation hearings on CSpan.  Instead Summers name was floated and left out for a long time with nothing else happening.  My take on that is that, despite the anonymous sources, the President never made up his mind and was testing Summers by letting him stew in his own unpopularity.

        •  Your timetable is mistaken: (0+ / 0-)

          ...First DK mention of Hagel being probable SecDef...was November 30, 2012.

          Second mention: December 13, 2012.

          Hagel nominated: January 7, 2013

          Hagel confirmed: February 26, 2013.

          Three months from first speculation (which some Kossacks said was completely bogus) and seven weeks after he was actually nominated.

          Summers: First speculation anywhere on May 26 but only after President Obama gives interview to Charlie Rose on June 16 do the media begin talk that he is first choice. First speculation at DK July 23: Summers withdraws less than two months later.

          Don't tell me what you believe, show me what you do and I will tell you what you believe.

          by Meteor Blades on Mon Sep 16, 2013 at 04:51:26 PM PDT

          [ Parent ]

        •  Best to win every battle, of course (0+ / 0-)

          Unfortunately, we won only one of your two examples. It's a shame, but no reason to discount the value or significance of our victories when they do come.

          Here at DKos this is somehow evidence of the power of the liberal blogosphere.
          Yes, it is. Evidence of sufficient power to influence the outcome of one important battle.
  •  Thank goodness (2+ / 0-)
    Recommended by:
    OleHippieChick, kc1964

    Making Summers Fed Chair makes about as much sense as making Donald Rumsfeld Secretary of Defense again.  Once you have proven that you are an incompetent idiot, you really need to be kept away from power (hear that Bush voters of 2004?)

    However, I don't think Summers was ever actually the lead candidate.  he was simply mentioned by Obama and the outrage flowed.  It's possible that this was actually a tactic: name someone, let them take the heat, and then actually name the person you really wanted after everyone else pats themselves on the back for blocking the hated guy/the first person wanted by the President.

  •  Harvard U ??? (3+ / 0-)

    I commend Summers having the grace to bow out on his own instead of putting the whole country through anguish with a failed hearing.

    But why was that written on Harvard letterhead?  

    It should have been Citigroup.

    "And once again, the forces of niceness and goodness have triumphed over the forces of evil and rottenness." --Maxwell Smart

    by emobile on Mon Sep 16, 2013 at 10:34:44 AM PDT

  •  Hello Larry, returns as World Bank head in 2016 nt (0+ / 0-)

    Warning - some snark may be above‽ (-9.50; -7.03)‽ eState4Column5©2013 "I’m not the strapping young Muslim socialist that I used to be" - Barack Obama 04/27/2013

    by annieli on Mon Sep 16, 2013 at 10:36:58 AM PDT

  •  Looks like somebody got Borked! (0+ / 0-)

    I'm never sure if I've forgotten and left the lid up, or if InvisObama™ is using the loo.

    by The Gryffin on Mon Sep 16, 2013 at 10:38:54 AM PDT

  •  Only in the DC bubble can Summers be seen as... (4+ / 0-)

    ...a centrist.

    But then, with rare exceptions, DC opinion is split between the center-right and the right-wing fringe.

    Thanks to everyone, whether they agree with me or not, for making this such an outstanding community. I know we usually want to see the same things for the country even when we disagree over individual politicians.

    by expatjourno on Mon Sep 16, 2013 at 10:39:25 AM PDT

  •  165,402 !*%! (3+ / 0-)
    By this past weekend, 165,402 members of the Daily Kos community had joined an action against Summers.
    One hundred Sixty Five THOUSAND Four Hundred and Two !*%!

    That's frickin' awesome!

    "Let us not look back to the past with anger, nor towards the future with fear, but look around with awareness." James Thurber

    by annan on Mon Sep 16, 2013 at 10:43:14 AM PDT

  •  Larry Summers couldn't even withdraw (3+ / 0-)

    without throwing in some revisionist history bullshit.

    Especially the part about "Policies that promote
    employment and strengthen the middle class".

    Larry Must have been talking about China, Mexico,
    Indonesia, Taiwan and India.

    On Giving Advice: Smart People Don't Need It and Stupid People Don't Listen

    by Brian76239 on Mon Sep 16, 2013 at 10:45:20 AM PDT

    •  Larry's a proud citizen of the world! (0+ / 0-)

      He's so evolved, he's post-national.
      Eventually, we mere mortals too may transcend the illusions fostered by the quaint, outdated fantasms of the nation-state, and embrace the true brotherhood of the entire human race...
      But only after we've lowered our standards of living by about 80%, as the poor of the developing world double theirs, til we all meet at a point that will -- conveniently and no doubt coincidentally -- allow Summers and his post-national Wall St ilk to live the lives that they will have thereby earned...
      With living standards three orders of magnitude above that which they already enjoy.

  •  Here's something from yesterdays discussion of (5+ / 0-)

    this.

    According to Kurt Eichenwald's 2005 book about the Enron scandal, "Conspiracy of Fools," then-California Gov. Gray Davis (D) reached out in late 2000 to Summers, who was then the Treasury secretary under President Clinton, for help with the state's little problem of power outages and skyrocketing electricity prices. Davis suspected, rightly, that Enron was toying with the state's electricity supply for fun and profit.

    Summers, though, scoffed at Davis's suspicions, according to Eichenwald. The book details how together with then-Fed Chairman Alan Greenspan, Summers geniusplained to Davis that over-regulation was the real problem and that Davis risked scaring away Enron and other power suppliers if he raised a big fuss. In fact, maybe the real problem was that California's energy prices were too low, because of onerous price caps, Summers reckoned, according to Eichenwald.

    When energy prices kept on soaring, Davis complained again, prompting a video conference call that included Summers and Greenspan and, incredibly, George W. Bush's favorite executive, Enron CEO Kenneth "Kenny Boy" Lay. On that call, Summers declared that Lay was doing a "pretty good job" of supplying energy to California, Eichenwald writes. The book says Summers again suggested that the state's energy prices were actually too low, and that maybe if the state was so in love with low energy prices, what it needed to do was relax environmental regulations to let more power plants get built in a hurry....
    http://www.huffingtonpost.com/....

    And also a reminder of why I much prefer Warren to HRC for POTUS 2016

    Warren is neither a Clintonesque triangulator nor an Obamaesque conciliator. She is a throwback to a more combative progressive tradition, and her candidacy is a test of whether that approach can still appeal to voters.-J. Toobin "New Yorker"

    by chuck utzman on Mon Sep 16, 2013 at 10:46:43 AM PDT

    •  As w/ GWB, every time I think... (0+ / 0-)

      ..."they couldn't possibly go that far," it turns out the reality is even worse.
      The man needs to be shot for the.betterment of the species -- after a proper trial for treason, and by a duly constituted execution squad, of course.
      Thank you so much for sharing this info -- with our "liberal media," I might never have learned of it w/o you.

  •  There is a god! (0+ / 0-)

    If you don't stand for something, you will fall for anything - unknown

    by incognita on Mon Sep 16, 2013 at 10:48:48 AM PDT

  •  Good news! (1+ / 0-)
    Recommended by:
    Eric Nelson

    and coming on the heels of the temporary non-war with Syria, it is a great acknowledgement of what communities such as this one can do.

    The core of the Daily Kos behavior guide is simple: don't be a dick.~Kos

    by theBreeze on Mon Sep 16, 2013 at 10:49:05 AM PDT

  •  If Summers was my THIRD choice, and there was (0+ / 0-)

    a tremendous uproar about his nomination, I still might be highly motivated to ask him to drop out in order to avoid the distraction, especially if I didn't have my heart set on him, and I was still deliberating my choice.

    So, I disagree with this assessment:

    If Summers wasn't Obama's first choice, however, there would have been no need for the man's withdrawing his name from consideration. The president could merely have announced this week or next or anytime in the next couple of months that he had chosen Janet Yellen or one of any of several other possible candidates whose names have been mentioned.
    Not necessarily a need, but possibly a good, saavy political move.  Ask the guy to drop out, it's causing a distraction and not worth a protracted fight even before you make a nomination.

    First choice, last choice, the wise move was to ask him to drop and he did.

    The President did good here. If he listened to the pressure of the political Left, we should be happy about that.

    Imagine the most profound idea ever conceptualized occupying this space. Now expect exactly the opposite. You'll never be disappointed.

    by Gurnt on Mon Sep 16, 2013 at 10:58:54 AM PDT

  •  i wonder (0+ / 0-)

    was he afraid of being indicted after Warren finshed her questioning?

    bets?

    kc

  •  I agree, but... (1+ / 0-)
    Recommended by:
    BenderRodriguez

    I agree that Summers wasn't a great choice, and I'm happy to see Democratic senators get some credit here on Daily Kos, but I would be remiss if I didn't say that being from the "Clinton-era" shouldn't be a term of revulsion or an automatic disqualifier.  

    "Optimism is better than despair." --Jack Layton, the late Canadian MP, liberal, and Christian.

    by lungfish on Mon Sep 16, 2013 at 11:35:45 AM PDT

  •  Great news for progressive power.. (1+ / 0-)
    Recommended by:
    smartalek

    ..yet why a 'send off with high praise' though. What possible reason for that? Boilerplate thankyou language?

    Don't know but it seems that the smarter move would have been to quietly let Summers do his own talking.

    Make a statement praising and thanking his most supportive base, especially the progressives, for their hard work. Use these kinds of opportunities to highlight the progressive wing of the Dems.

    That would be a very good thing. Reject the trangulation /third way at this point. With the right so far off the deep end we need the weight of the executive even farther left to highlight the distinction for people to realize where they can find safety for themselves. It is not with the radical right 1%er shill party

    Farther left is actually where the country is: That is the choice that most people make on most issues (gun safety regulations for instance) but the MSM doesn't give a balanced accounting of this fact.

    So we must encourage the President and future Dem candidates that this is the way to go. Show the difference between right (awful choice) and the left (where the country actually is)

    imo

    Thx MB

    •  Courtesy? (1+ / 0-)
      Recommended by:
      smartalek

      From a practical standpoint, what difference does sending him off with high praise make?  None at all.  He's out of the running, which is what we care about.

      He hasn't crossed Obama in public.  Obama has no reason to diss him.  Why gratuitously make an enemy of him (and his sympathizers), when he can save a little face?  There are still a lot of his proteges around (including at Club Fed); if Obama treats him poorly on the way out the door, they're going to remember and won't be inclined to be very helpful.  Give him a gracious out, they'll remember that too.

      If we get the right person, I don't care how many public plaudits Obama showers on Summers.  They mean nothing.  It's who he actually does nominate that matters.

  •  Fox Business (1+ / 0-)
    Recommended by:
    OleHippieChick

    Just spent 5 minutes watching Fox Biz.  Yjet BBoH (Blond Bimbo of the Hour) trying soooo hard to get Wall Street business leaders to agree that the stock market would be even higher if Obama hadn't isntituted soo many anti-business policies.  Nope, they said that no one in 2008 ever thought we'd have recovered to this pount,
    And of course had the usual charts that begin with Obama in Feb 2009.
    Also said that in 2008 we had unemployment of 6.6% (or so) and it's 7.8% now so really we're in bad shape.
    And family income is less than in 2008 so again Obama is terrible.  But again, they smiled with a twinkle in thie eyes and brushed her off.

  •  If he's so brilliant, y can't he write a gram- (0+ / 0-)

    matically correct sentence?
    To follow the simple rule of parallel structure, the second sentence of his paragraph three should read:
    "...would not serve the interests of the Federal Reserve, the Administration, or ultimately the nation's ongoing economic recovery."
    The repetition of "interests of" in his version is not only needlessly redundant, and thus stylistically inelegant, it's an out-'n'-out violation of the grammatical demands of the parallel structure the list of objects of the preposition "of" requires.
    I have yet to hear or read any evidence of the man's ostensible brilliance.

  •  Nice! (0+ / 0-)

    Any sign of Senate Democrats growing a spine is encouraging.

    It's hard to know when to take all the appointment hysteria seriously. There were a lot of "aha!" accusations of Obama betraying the left when he started announcing cabinet officials. But, his two Republican appointees at Defense and Transportation enacted some of the most progressive policies of the administration, like cutting defense spending, sticking to the Iraq withdrawal timeline, repealing DADT and a long list of green policies to reduce oil consumption enviros have been wanting for years. So we know Obama can use Republicans and moderate Democrats to reach progressive goals.

    The Reserve Chairman is a little different though. This position has more independence than a cabinet official. This episode sends a good message to Washington that the old conventional wisdom about deregulation is now a liability.

  •  When is Sherrod Brown running for President. (0+ / 0-)

    A progressive who can carry Ohio. Guaranteed win.

  •  At last the left and some on the right too (1+ / 0-)
    Recommended by:
    OleHippieChick

    are showing their muscle. It has been long disused so to get two victories back to back is really heady!

    Hi NSA. I am doing constitutionally protected stuff - like free speech. Too bad you are not!

    by glitterscale on Mon Sep 16, 2013 at 02:33:36 PM PDT

  •  Now Summers is over, can we fall our of fed? (0+ / 0-)

    .
        I'm just sayin.........


    Mitt Romney was CEO of Bain until Aug 2001. Proof of Bain & Romney Fraud

    by laserhaas on Mon Sep 16, 2013 at 02:40:12 PM PDT

  •  Nobody happier than his former Quant.. (0+ / 0-)

    Timing..she said this was a gift as she's the lead for the Occupy Finance book that as been published..more here..press conference tomorrow..

    http://ducknetweb.blogspot.com/...

    The Medical Quack http://ducknetweb.blogspot.com

    by medicalquack on Mon Sep 16, 2013 at 08:00:47 PM PDT

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site