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Obama Economic Adviser Summers Leaving White House

World  (tags: obama, economic, white house, harvard, administration )

- 3100 days ago -
President Barack Obama's top economic adviser is going back to Harvard University at year's end, the White House announced Tuesday after hints of a shakeup of the administration's team.


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Care For All (46)
Tuesday September 21, 2010, 10:22 pm
This is good news!

Who is Larry Summers?

1. Larry Summers, is the guy who said he was outraged about AIG executives earning $1 million in bonuses, while he himself earned $8 million in bonuses from the same hedge funds and financial institutions that he was appointed to oversee and regulate. And during 2008, Larry earned $2.7 million from Wall Street banks that were recipients of government bailout money.

2. Andrei Shleifer, a close friend of Summers cost Harvard a $26 million settlement with the U.S. government. A federal court found Shleifer liable for conspiracy to defraud the U.S. Government, after Shleifer violated conflict-of-interest rules by making secret investments in Russia at the same time he was working for a Harvard group contracted by the U.S. Government to advise the Russian government. While Shleifer was being investigated, Summers pushed to have Shleifer promoted to a prominent chair at Harvard.

3. While at the World Bank, Summers signed a memo that declared: “Just between you and me, shouldn't the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Least Developed Countries]?” The memo noted, “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.”

4. Here are 3 additional pertinent articles:

a. ” The Enemy Within: President Obama Must Dump Summers
To Save His Presidency” by Debra Hanania-Freeman, ”

b. ”Eight reasons to dump Larry Summers”,

c. ”Larry Summers, Tim Geithner and Wall Street's ownership of government”

gail dair (0)
Tuesday September 21, 2010, 11:28 pm
noted ty

Shirley S (187)
Wednesday September 22, 2010, 1:16 am
Too expensive to keep around.

Jessica C (178)
Wednesday September 22, 2010, 7:29 am
Let's just hope he stays out of education.

Edward M (8)
Thursday September 23, 2010, 12:30 pm
As there appears to be a vacancy for an Economic Advisor at the White House, I would like to apply for it.
My qualifications are that I cannot do any worse than the last incumbent.

Rita Walpole A (10)
Thursday September 23, 2010, 12:53 pm
Okay, Mr. President, you now have a chance to select an economic adviser who is not tied into or onto Wall St., banking, and other of our villianaire rulers' greed and power creating and keeping enterprises. We, the professional progressives, ask you, in behalf of all the sheeple, to raise your ethical standards for appointees, and avoid appointing any and all who espouse support for the military/industrial/ corporate/ terrorism complexes' coup de etat, the longtime coming coup of which Pres. Ike warned us as he departed office, and came into full bloom during the Bushwhaced years. Word of advice: do not consult and accept advice from a couple named Clinton, and search hard for a far more peace oriented and less Zionist favoring secretary of state. Far too many of our villianaire rulers have profitted immensely for years from war, war and more war. Time to go to the roots of our problems here in the U.S. of (greed and power) A.(ddiction), and create the real CHANGE needed to.....UNDO THE COUP!

Marilyn K (50)
Thursday September 23, 2010, 12:55 pm
This is "Politics". Stay tuned!

Morris G. (18)
Thursday September 23, 2010, 1:48 pm
I have a novel idea: How about someone who has actually built a business from the ground up? Obama's economic team is made up of a bunch of academics and political cronies who hadn't run as much as a corner grocery before entering the administration.

Norm C (74)
Thursday September 23, 2010, 1:49 pm
His departure is only two years too late.

My recommendations would be Jared Bernstein, Joseph Stiglitz, Dean Baker, Elizabeth Warren, Sheila Bair, Brooksley Born, Samuel Bowles, Herman Daly or Roy Morrison. Bring them all in and pick one to be the Chairperson.

Cathy K (0)
Thursday September 23, 2010, 3:07 pm
Great!!! Let's try someone new. Now, I hope the President considers replacing Geitner.

josie batlles (44)
Thursday September 23, 2010, 5:24 pm
thanks very much for sharing x

eileen k (1)
Thursday September 23, 2010, 5:27 pm
Great news! Oh, BTW, Larry Summers, don't let the door hit your ass as you go; and, how about taking your criminal buddy, Tim Geithner with you. It would certainly clear away the stink in DC.

I feel sorry for Harvard U., though. One word of advice, however; hold your noses or get gas masks; for good ol' Larry will stink up the place once again.

TY fpr sharing this story, Sophie. It's quite interesting, I must say.

Lilliana Garcia (1)
Thursday September 23, 2010, 6:11 pm
Hola NOOOO , que le den candela que se mude a una isla solo, con todos esos millones para que trabaja mas que le de la oportunidad a otra persona ue necesite esa posicion y trate de hacerlo lo mejor pocible

Tom W (24)
Thursday September 23, 2010, 7:40 pm
This is so much like rats leaving the ship -

Tom W (24)
Thursday September 23, 2010, 7:42 pm
Lilliana G. - This is America - - in case you forgot - - - So take your weary ass and comment on some Hispanic site. Goodbye

R T (14)
Friday September 24, 2010, 2:37 am

Thursday September 23, 2010, 7:42 pm
Lilliana G. - This is America - - in case you forgot - - - So take your weary ass and comment on some Hispanic site. Goodbye

Arrogance is what got your country and the world to the state it is in at present. As a follower of Jesus Christ you should be giving LOVE, you should be UNDERSTANDING and you should show TOLERANCE.
Ah! but I forgot 'this is America' the land of no trust, the land that only has bad politicians, the land of bloggers who can only use abusive and derrogatory language. The land where everyone knows better than anyone else. So sad.
Luckily for me I know this is not true as I have interaction with so many Americans who are able to Think and make comments in a pleasant readable manner, without the use of abusive or derogatory language. There is still hope.

I don't know enough about your politics to comment, however, from the blogs I read on this site I get the destinct immpression that it is the American way of life to find fault and condemn all politicians whether or not they were supported that politicians election.

Make a difference, give Love, Understanding and Tolerance. Plant a Tree.


David J (18)
Friday September 24, 2010, 4:54 am
No real comment. I think we need to get rid of most of them and start over. Why don't we get someone that is now out of work and has made less than 100K a year so he/she knows what it is really like in the real world. The million dollar + people don't have a clue how it is to have to contend with deciding what bills have to be paid and which ones can wait till next month so the family can eat.

Alexandra Rodda (180)
Friday September 24, 2010, 7:19 am
The man is a hypocrite. What the world needs is honest leaders - both politicians and public servants.

Charlene Rush (2)
Friday September 24, 2010, 8:40 pm
Good-by, farewell, so-long, don't let the door hit you in the butt!

This is quite usual, with most all administrations.
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