I think that was Summers not Geithner re B. Born.

Post #389,582 by Another Scott 5/19/14 7:07:52 AM Reply	I think that was Summers not Geithner re B. Born. http://www.businessi...y-summers-2009-10 Summers has the reputation for being a brilliant economist, but he seems to worry much more about political appearances and retaining influence rather than giving his best economics advice. It's toxic in times of trouble. Geithner probably wasn't a bad pick for Treasury. He had the background to know what the big banks needed after they blew up the world economy. On the job training for someone who didn't have that background would have been dangerous. But he needed a strong counterweight - the US economy needed (and needs) much more than a strong banking system. Yeah, Obama's macroeconomic sense isn't his strong point. He should not have "pivoted toward deficit reduction" and the line in his speech about "... families are tightening their belt so government must too..." was all wrong economically, but maybe he had to do it due to the politics of the day. It's extremely unfortunate. At least Geithner is getting some pushback! Cheers, Scott.
Post #389,620 by Ashton 5/19/14 9:43:58 PM Reply	Thanks, my bad / wrong sometimes-perp. So then .... [nice sleuthing; I should have recalled Her name--I do good on Odd-names, like Iosip Vissarionovich Djugashvili--even if that's a transliteration. Brooksley!?--must be losing-it.] Why hasn't Brooksley gotten a Citizen's Medal of-whatever, for her prescience-- her also tenacity in the face of a united-front of utterly-asleep senior-Suits? (And where are a few videos of one, another of the formerly-befuddled: Apologizing??) It's not too late! Crowd-funding? ... ... Anyone? ... at all?? Yeah.. I know. As civilizations unravel, Thanks! becomes rarer (especially amongst the formerly-Certain Powerful-types.)
Post #390,454 by Another Scott 6/8/14 5:32:10 PM Reply	Speaking of Summers playing politician rather than economist... http://www.creditslips.org/creditslips/2014/06/summers-and-cramdown.html Larry Summers has a very interesting book review of Atif Mian and Amir Sufi's book House of Debt in the Financial Times. What's particularly interesting about the book review is not so much what Summers has to say about Mian and Sufi, as his attempt to rewrite history. Summers is trying to cast himself as having been on the right (but losing) side of the cramdown debate. His prooftext is a February 2008 op-ed he wrote in the Financial Times in his role as a private citizen. The FT op-ed was, admittedly, supportive of cramdown. But that's not the whole story. If anything, the FT op-ed was the outlier, because whatever Larry Summers was writing in the FT, it wasn't what he was doing in DC once he was in the Obama Administration. Let's make no bones about it. Larry Summers was not a proponent of cramdown. At best, he was not an active opponent, but cramdown was not something Summers pushed for. Maybe we can say that "Larry Summers was for cramdown before he was against it." [...] (via Atrios - "The Worst Person In The World - Larry Summers") Cheers, Scott.
Post #390,478 by Ashton 6/9/14 2:35:16 AM Reply	Never mind 'feet of clay', clearly some sort of Ego-extractor needs development --before anyone is given more power than a delivery-truck driver. Glib... it's Everywhere.. from BHO's flowing pastoral rhetoric [then diametrically-opposite staffing/yielding to any Corp anywhere] down to my local Comcast: attempting to con me out of an agreement (inscribed, even on one of their bills!) an ongoing matter I'll doubtless have to take to a Suit. And will. (I think DRL.. nail/on-head/hit in one post wherein he dubbed Muricans as narcissists--pretty astute deduction from a self-admitted 'social-incompetent.) It does seem that we no longer have to delve as far-down, in the bios of the usual or unusual suspects--to find world-class duplicity. This may be an expectable consequence if: in fact, the dis-USA's litany of problems are a function of also-increasing big-C Corruption, a personality trait always difficult to sample with any precision. I guess its sorta comforting, just to confirm the workings of another process? For a few minutes anyway. Surely there are -isms less-corrupt than our patch-quilt of contradictions; check around N. Europa, say. Maybe 10,000 house-swaps-for-a-year could provide stats to begin the disinfection. First we outlaw the neck-tie. Then the suit (in hopes of altering the Suit-within?) Clothes-make-the-man was a once-popular koan. OK.. if we change those, then ...

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