Larry Summers in the White House

Harvard University professor
Lawrence Summers will join the Obama administration with a
ready-made sales pitch for substantial economic stimulus and a
chance that the role springboards him to the Federal Reserve.  Summers, 53, was Bill Clinton’s last Treasury secretary. He
will have a wide-ranging portfolio and help craft Obama’s
economic policies, a Democratic aide said…It also positions him to
succeed Fed Chairman Ben S. Bernanke, whose term at the helm of
the central bank expires in January 2010, said Vincent Reinhart,
former director of the Fed’s Division of Monetary Affairs.

Here is the story.

Comments

Obama is certainly going after the big, experienced, and respected names in policy circles.

I guess this is a good thing.

Is anyone else bothered by the fact that the article never says what position he is getting?

Presumably, Obama doesn't want to appoint Summers to an office where the Senate gets to vote on him. That would allow for feminist grandstanding of the Anita Hill variety. Plus there could be some nasty questions of the kind that Harvard mechanical engineering professor Robert K. Abernathy raised about Larry's best friend Andrei Shleifer's involvement in the Rape of Russia in the 1990s, which ended up costing Harvard, under Larry's mule-headed leadership, tens of millions in fines and legal fees. (See David Warsh for details.)

Overall, Summers failed as a leader, so it's fitting he's back in the staff role that he's better suited for. His having a job in the White House will make happy the neocon/neolibs, who were almost his only supporters at Harvard (with the honorable exception of Steven Pinker).

Creepy echoes of Roosevelt IMO.

Too odious even for Harvard

Larry Summers is currently Charles W. Eliot University Professor at Harvard.

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