When Washington went to the beach, progressives opposed to the Summers nomination organized. What is clear now is that the Democratic wing of the Democratic Party is willing and able to challenge its Wall Street wing.
The appointment of the next Federal Reserve chair is no longer just a policy question. It has become a test of the Obama administration’s ability to act pragmatically by abandoning a costly and potentially doomed nomination.
It takes a special magic to bring together people as diverse as progressive Democrats, Californians, conservative Republicans, feminists, a number of prominent economists, and a large chunk of the investment community.
The “boys club” that dominates Obama administration economic policy is all in for Larry Summers. The divide between Summers' critics and the insiders dramatizes the looking-glass world that is today’s Washington.
The supporters of Larry Summers drive to be Fed chair are desperately trying to rewrite history so that this world class champion of financial deregulation was actually a prescient supporter of tighter regulation all along.
The chattering classes are fascinated by the Republicans’ internecine battle to redefine the party in the wake of the George W. Bush calamity and the Mitt Romney defeat.
It’s a real-life disaster movie, one that’s left neighborhoods in ruins all across the country, killed thousands of people, and ruined millions of lives. You might call it a “Banknado.” Yes, we know the “Sharknado” craze ended about ten days […]
Whoever said, “What you don’t know can’t hurt you” doesn’t know much about economics. That goes double for the nomination of Lawrence Summers to head the Federal Reserve. For all […]
Larry Summers for the Fed? Seriously? There are better choices for Federal Reserve chair; in particular, Janet Yellen is more than qualified and would do a great job. Ezra Klein […]
Sheila Bair, the former chair of the Federal Deposit Insurance Corporation and one of the few insider voices of sanity in the midst of the 2008 financial crisis, made the […]