Obama and Media Pushing Larry 'The Looter' Summers for the Fed and Blocking the Woman Who Should
http://www.alternet.org/economy/janet-yellen-federal-reserve
On Sunday, New York Times readers were greeted with the image of Larry Summers splashed across the front page, looking like a visionary statesman gazing thoughtfully into the distance, as if ready to seize the reins at the Federal Reserve and guide the country’s economic destiny. Fed chair Ben Bernanke is expected to step down in January when his term ends, and the search for his successor has lately heated up. Larry Summers, the former Treasury Secretary under Clinton, and Janet Yellen, currently serving as vice chairwoman of the Fed, are the names most often mentioned for the job.
Over the last few weeks, Americans have been bombarded by a Summers-Summers-Summers drumbeat coming from the Obama administration, much of the mainstream media, and various Summers protégés. Sheryl Sandberg of Facebook, who served as Summers’ chief of staff when he was Treasury Secretary, and Ed Luce of the Financial Times, who used to write speeches for him and now writes pro-Summers columns in the FT are among those carrying the Summers banner.
The Fed chairman is often said to be the most powerful official the president appoints because that person directly affects each and every pocketbook in America. The perversity of the attempt to push a man who will expose American pocketbooks to another round of serial looting really can’t be overstated.
Apparently the Summers-pushers think We the People haven’t had quite enough looting, so they are trying to promote one of the very guys who gave the thieves the keys to the castle and forced us to bail out reckless banks as a thank you. Obama’s cravenness on this matter is epic, and the oozing sycophancy of Sandberg and her ilk is a wonder to behold.
= new reply since forum marked as read
smoking bongs in your drum circle. 
Like when has that happened? We seem to be happy if any of his appoints are within sight of the Center, let alone even a smidgen to the Left.
This is an article based on quotes in NYT Article in the OP. This is very disappointing to see "CAP" give approval for Summers. That means that Obama can feel free to nominate him. Despite pressure from the Left and many on Wall Street who think Janet Yellen is the better pick. So we will have another Wall St. Crony who did the "Revolving Door" with questionable background and dealings back in power. 
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Center For American Progress Says Larry Summers ‘Not A Wall Street Guy’
The Center for American Progress (CAP), a progressive front group for corporate Democrats, has decided to go on the record in assisting Larry Summers’ quest to become Chairman of the Federal Reserve. In a New York Times story titled The Fed, Lawrence Summers, and Money the president of the Center for American Progress, Neera Tanden, goes on the record on Summers’ behalf:
“I definitely don’t think of him as a Wall Street guy,” said Neera Tanden, the center’s president. “He runs in the crowd enough to known they’re not always right.”
Interesting statement given that Summers was the chief cheerleader for the deregulation that helped cause the 2008 financial crisis. At the time Summers claimed to be right because he had the support of Wall Street. In fact, it was Summers who made the now infamous 13 bankers statement. A statement Summers made to Brooksley Born to stop her from regulating derivatives.
In one call, Summers said, “I have 13 bankers in my office and they say if you go forward with this you will cause the worst financial crisis since World War II.”
Not a Wall Street guy? Knows they aren’t always right? Really Neera?
In the same article that Tanden is quoted in it is revealed that Summers has been taking payments from Wall Street firms – the ones he would be regulating if he became Chairman of the Federal Reserve.
Before his tenure in the Obama administration, Mr. Summers had accumulated personal wealth of at least $7 million; the last two years have most likely added considerably to that. But his money and Wall Street connections put him in an awkward position, partly because the next person to lead the Federal Reserve will oversee the writing of several key new regulations from the Dodd-Frank financial reform bill.
What is CAP’s role in American politics? Is it to launder corporate functionaries as progressives? Apparently so.
CAP itself was recently caught soliciting contributions from Corporate America in exchange for access to the Obama Administration. Pay to play. Now they are trying to help Summers get into one of the most powerful jobs in Washington despite clear conflicts of interest. CAP’s attempt to astroturf progressive support for Larry Summers is shameful.
http://news.firedoglake.com/2013/08/14/center-on-american-progress-says-larry-summers-not-a-wall-street-guy/
