Could the Larry Summers Trial Balloon released by the White House be finally POPPED?
Perhaps: today Senator John Tester is now one of FOUR Democrats on the Senate Banking Committee who has come out and said that he will NOT vote for Larry Summers if he is nominated for Fed Chair.
Senate Banking Committee Democrat Jon Tester would not support Lawrence Summers if he was nominated by President Barack Obama to be the next head of the Federal Reserve in a sign of firming opposition towards the former White House adviser.
"Senator Tester plans to vote against him in committee," Andrea Helling, a spokeswoman for the Montana Democrat, said on Friday.
As we all know Obama loves Larry Summers for someone unknown reason but both the Left and the Right can't stand him.
Besides the hard hitting National Journal article out today called the Case Against Larry Summers
Larry Summers got a huge blow today on his road to the Fed Chair. Senator Jon Tester came out this afternoon as the 4th Democrats on the Senate Banking Committee who will NOT vote for Larry Summers if he is nominated. The four Democrats now include: Elizabeth Warren, Jeff Merkely, Sherrod Brown, and now Jon Tester.
In order to move from a committee to the floor a nominee needs at least 2 votes higher for yes over no. With Senate Democrats having 12 Seats and Senate Republicans having 10, a nominee will need 12 yes votes to make it to the Senate floor. With already 4 No votes from Senate Democrats on that committee, Larry Summers will need 4 Republican Yes votes. Are there 4 Republicans going to stick their necks out for Larry Summers? I just don't see it.
Hopefully this is the end for Larry Summers as Fed Chair.