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View Diary: No Summers for the Fed? Sen. Warren, Brown and Merkley Are No Votes (134 comments)

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  •  Only potential hold-up is Senate opposition (12+ / 0-)

    as per yesterday's NYT:

    Yet as that Oval Office exchange shows, the president has long had Mr. Summers in mind — and still has him in mind — to become the world’s most powerful central banker. The relationship is based on an intellectual partnership that dates to the 2008 campaign and was “forged in the crucible of the financial crisis,” as the longtime Obama strategist David Axelrod put it.

    A former administration official, who like most others did not want to be identified speaking of such a sensitive matter, said, “It’s like the attachment you feel for your heart surgeon after he performs a quadruple bypass.”

    But as that Oval Office meeting last year also suggests, Mr. Obama’s one concern about nominating Mr. Summers has been the potential for a Senate battle — not only from Republicans spoiling for fights, but also from Democrats who view Mr. Summers as having been too friendly toward deregulating big banks when he was Treasury secretary in the Clinton administration.

    Esp. in the context of today's Krugman column, fact that president considers Summers's prior tenure to be a huge success is frightening in the extreme.

    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 Fri Sep 06, 2013 at 08:39:25 AM PDT

    [ Parent ]

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