More information has come out indicating Larry Summers may be Obama’s choice for the Chairman of the Federal Reserve.
Sometimes this sort of leaked information is just plain wrong. Every once in a while that happens. Let’s hope this is one of those times.
It isn’t that summers it the devil. There is nothing that “awful” about him. The worst part about a Summers appointment is that it shows things are back too “business as usual.” That is, putting characters who have strong ties to the investment banks into powerful financial positions in Washington.
I had hoped the shock of 2008 would stick in the minds of our politicians a little longer. It would have been nice to have more time before they start stocking the government again with “friends of the banks,” but maybe 5 years is all we get.