Against Lawrence Summers

By Dennis Loo 

Former Harvard President, eventually forced out for a number of reasons, including his extraordinary abrasiveness, arrogance, and blatant sexism, Larry Summers is being widely reported as having the inside track for appointment as Obama's Treasury Secretary.


In the following article by John Wilson we hear such gems from Summers as this memo that he signed while vice-president and chief economist at the World Bank in 1991: "I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that."


And then there's this:


"Back in April 2008, Summers was predicting that 'There is a reasonable chance that from a financial market, Wall Street perspective, the worst has passed.' That doesn't sound like a smart economic prognosticator.


"Just a few months ago, Summers declared: 'Alan Greenspan had a tremendous record as Fed chairman.'


"And in April 2008, Summers proclaimed, 'Any honest Democrat will admit that we are now all Friedmanites.'"


I don't know about you, but this is change I can believe in! Install as Treasury Secretary a guy who thinks that the free market cures all ills, the same ideology that has created the terrible crisis we are suffering from in the country and world. Capital idea!


So much more, see the Wilson article at OpEd News.