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Saturday, August 17, 2013

Looking forward to the end of Summers?

A little while ago, I advocated working with the liberatarians -- whom I cannot stand -- on privacy issues. Why? Because libertarians of the more principled sort are good on those issues, and because anyone hoping to participate in a mass movement cannot be too exclusionary.

We also have a movement composed of people who insist that Larry Summers should not be named chairman of the Fed. I like everything about this movement except for the folks behind it: The Markos Moulisas Cheetohead brigade. As did many of you, I fell out with that crowd back in 2008 and stayed out.

Still, these sentiments (mostly) sit well with me...
Dear President Obama:

It is unconscionable that Larry Summers—an architect and cheerleader for the financial deregulation that ruined our economy—would be appointed chairman of the Federal Reserve.

Please do not appoint him, and instead consider this an opportunity to shatter a glass ceiling by appointing a qualified woman to this powerful position.
The estrogen-based part of this statement doesn't mean as much to me as does the idea of keeping Summers well away from this august position. Janet Yellen is obviously the better choice -- and to my mind, her sex should not enter into the equation.
Dear President Obama:

Please don't appoint Larry Summers to anything. Besides being a major a-hole and a fat misogynistic slob, he lost a ton of money while overseeing Harvard's endowment. Is that the kind of loser you want managing our country's finances? If your choice has to be a member of that special 2% minority, what about picking Howard Stern or Bette Midler? They are both smarter than Larry and they're both funnier than Yellen. Try to do the right thing just once, even though you never have yet. Thanks, USA.
I would estrogen it up some more by referring to Summers as Larry "men are inherently smarter than women" Summers.
ps- It is fitting that Obots should lead the charge. They should be as zealous now in admonishing their Boyfriend in the White House as they were when swooning over his canned campaign sloganeering.
Summers's smug demeanor in "Inside Job" was archetypal.

Someone impressive from that movie was Brooksley Born. As chairperson of the Commodity Futures Trading Commission she had occasion to lunch with Alan Greenspan. As she tells it, Greenspan expressed the opinion that no securities fraud laws were needed because the market would handle the penalties for fraud.

I believe Greenspan has denied the story, but I have no reason to think Ms. Born would lie, and no reason to think Mr. Greenspan would tell the truth.
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