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Summers withdraws and Futures roar



September 15, 2013 – Comments (1) | RELATED TICKERS: Y , EL , LEN

Larry Summers had the good sense to withdraw his name from FED Chairman consideration.  And the response by the world was to cheer.  I always made my feelings clear.  He is too much of a wild card for the job.  The market doesn't like surprises, and with Summers you would get them.  I also question his ability since I have blamed him with the causation of the "Great Crash."  After all it was he who guided President Clinton with repealing Glass-Steagall, something I have argued for years did tremendous harm.

Now Mr. President please start Gelin with Yellen. The market WANTS her and her qualifications are impeccable.

1 Comments – Post Your Own

#1) On September 16, 2013 at 10:59 PM, awallejr (52.32) wrote:

Here's my follow-up whether people care or not.  I have to believe that anyone who reads in the news that the market worldwide is cheering that that person withdrew consideration for a national post is hurtful to that person.  So Larry the world did cheer.

Personally I don't have sympathy.  The person my heart goes out to is the person that lost their job while trying to pay a mortgage and putting 2 kids through college. My heart goes to that person who trusted the system and then got burned because of greed or stupidity of others.

Larry as far as I am concerned you are a stupid person.  Hindsight is 20/20 so now we can see the stupid things you did.  The harmful things.  The things that have caused MILLIONS to suffer.  You choose a public life you accept the consequences.

You think you knew better Larry.  You thought your advice to President Clinton was the right course.  You befriend another President yet, thankfully. enough in Congress rallied against you. Take no solace, you DID hurt millions.  Adios.  Now Mr. President please lay down "Chicago politics"  and "Harvard loyalty"  and stop delaying.  Appoint Yellen.  Enough said.

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