Tag Archives: Larry Summers

Larry Summers Fed Nomination Would Bypass ‘Steady’ And ‘Right’ Janet Yellen

By The Huffington Post News Editors

WASHINGTON — Leading Democrats are struggling with the idea that President Barack Obama may actually nominate economist Larry Summers to head the Federal Reserve. If he does, he’d pass over Fed Vice Chair Janet Yellen, who saw the warning signs of the 2008 financial collapse, for Summers, whose deregulatory advocacy as treasury secretary contributed to it.

Summers’ critics typically cite his role in the 1999 repeal of Glass-Steagall financial regulations and the 2000 deregulation of the derivatives market as key contributors to the financial collapse of 2008. But Yellen accurately read signs of bank trouble before the crash, when she served as president of the San Francisco Federal Reserve.

“She’s steady, she’s been right and she hasn’t ignored the real economy and the role of employment,” former Rep. Tom Perriello (D-Va.), now president of the Center for American Progress Action Fund, said Wednesday. “The reputation she has is as someone who has certainly been more interested in the full employment side of the mission than just the anti-inflationary side.” Yellen pushed for transparency at the Fed before it was popular and ate with fellow workers in the cafeteria, Perriello noted.

Read More…
More on Ben Bernanke

…read more

Source: FULL ARTICLE at Huffington Post

Fears Rise That Larry Summers Is Likely To Be Named Fed Chairman

By The Huffington Post News Editors

WASHINGTON — President Barack Obama is leaning towards former White House Economic Adviser Larry Summers as his choice to replace Ben Bernanke as chairman of the Federal Reserve, according to people who have been briefed on the administration’s thinking. Liberal critics of Summers’ economic record, along with those who continue to question his ability to work with women, are waging a last-minute campaign to persuade the president to change his mind and instead choose the other frontrunner for the job, Fed Vice Chair Janet Yellen.

Chatter increased Tuesday among Summers’ opponents when Fed Governor Sarah Bloom Raskin’s name was floated as a possible deputy to Treasury Secretary Jack Lew. Raskin, who has been harshly critical of the Fed, is broadly popular with progressives. Liberal Fed watchers suspected the move was aimed at people pressing Obama to name a woman to the Fed, and they worried selecting Raskin for Treasury would give the president cover to name Summers Fed chairman.

“We are concerned by rumors that Larry Summers, a man known for his offensive and callous opinions on women, is currently being considered to head the Federal Reserve. Women will not soon forget if President Obama picks Mr. Summers for such an important post, a man who believes women are somehow inherently less capable than men,” Shaunna Thomas, co-founder of feminist group UltraViolet, said in a statement. “It is high time to shatter the glass ceiling at the Fed and appoint a woman to a post that impacts so many women, and Janet Yellen would be a much celebrated pick.”

Read More…
More on Ben Bernanke

…read more

Source: FULL ARTICLE at Huffington Post

Bill McBride Is, As Usual, Right: Janet Yellen Would Be A Better Pick For Fed Chair Than Larry Summers

By Richard Green, Contributor

In his blog Calculated Risk, he writes: I’ve been an admirer of Dr. Janet Yellen for a number of years (In 2009 I suggested her as an alternative to reappointing Ben Bernanke). I’ve linked to a couple of articles below and they suggest the choice is between Janet Yellen and Larry Summers – and the key difference is “leadership style”.  However another key difference is that Yellen has a much better track record of correctly analyzing the economic situation, while Summers has frequently been wrong (but never in doubt). As an example, in 2005 Yellen was expressing concerns about housing: …read more

Source: FULL ARTICLE at Forbes Latest

The Paradox of the Value of College

By Morgan Housel, The Motley Fool

Filed under:

The unemployment rate for college grads is about half what it is for those without a degree. All of the jobs growth that took place over the last decade has gone to those with a degree. College pays. Or as former Treasury secretary Larry Summers put it, “I think a college education is expensive, but it is very cheap compared to ignorance.”

But there are always other sides to the story. Last month I sat down with Hoover Institute economist Russ Roberts, who gave a fascinating take on how the value of education has changed over the past few decades. Have a look:

The article The Paradox of the Value of College originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
b.type=”text/javascript”;b.async=!0;b.src=(“https:”===c.location.protocol?”https:”:”http:”)+
‘//cdn.mxpnl.com/libs/mixpanel-2.2.min.js’;d=c.getElementsByTagName(“script”)[0];
d.parentNode.insertBefore(b,d);a._i=[];a.init=function(b,c,f){function d(a,b){
var c=b.split(“.”);2==c.length&&(a=a[c[0]],b=c[1]);a[b]=function(){a.push([b].concat(
Array.prototype.slice.call(arguments,0)))}}var g=a;”undefined”!==typeof f?g=a[f]=[]:
f=”mixpanel”;g.people=g.people||[];h=[‘disable’,’track’,’track_pageview’,’track_links’,
‘track_forms’,’register’,’register_once’,’unregister’,’identify’,’alias’,’name_tag’,
‘set_config’,’people.set’,’people.increment’];for(e=0;e<h.length;e++)d(g,h[e]);
a._i.push([b,c,f])};a.__SV=1.2;})(document,window.mixpanel||[]);
mixpanel.init("9659875b92ba8fa639ba476aedbb73b9");

function addEvent(obj, evType, fn, useCapture){
if (obj.addEventListener){
obj.addEventListener(evType, fn, useCapture);
return true;
} else if (obj.attachEvent){
var r = obj.attachEvent("on"+evType, fn);
return r;
}
}

addEvent(window, "load", function(){new FoolVisualSciences();})
addEvent(window, "load", function(){new PickAd();})

var themeName = 'dailyfinance.com';
var _gaq = _gaq || [];
_gaq.push(['_setAccount', 'UA-24928199-1']);
_gaq.push(['_trackPageview']);

(function () {

var ga = document.createElement('script');
ga.type = 'text/javascript';
ga.async = true;
ga.src = ('https:' == document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js';

var s = document.getElementsByTagName('script')[0];
s.parentNode.insertBefore(ga, s);
})();

Read | Permalink | Email this | Linking Blogs | Comments

…read more
Source: FULL ARTICLE at DailyFinance

Gordon Baird, CEO of Independence Bancshares, Inc., to Speak at Innovation Project 2013 at Harvard U

By Business Wirevia The Motley Fool

Filed under:

Gordon Baird, CEO of Independence Bancshares, Inc., to Speak at Innovation Project 2013 at Harvard University

Conference to Focus on Successfully Transforming the Commerce Ecosystem Through Innovation

NEW YORK–(BUSINESS WIRE)– Gordon Baird, CEO of Independence Bancshares, Inc., will join Warren Buffet, Al Gore, Larry Summers, Raj Date and other industry leaders to talk about innovation and financial services at The 2013 Innovation Project conference, March 20th and 21st at Harvard University.

As a former executive of State Street Bank and Trust Company and Citigroup Global Markets, Inc., and founder of multiple financial services companies, Baird has deep experience in banking and the transformational impact of mobility and digital connectivity on financial services, regulation and mobile banking. He will provide his cross-platform, cross-industry perspective on the innovation taking place in financial services, the opportunities and constraints facing larger financial services companies, emerging enabling technologies and the regulatory frameworks that will shape developments in this space.

More information about Mr. Baird’s panel and the Innovation Project can be found here: http://theinnovationproject2013.com

About Independence Bancshares, Inc. and Independence National Bank

Independence Bancshares, Inc. is a bank holding company headquartered in Greenville, South Carolina, providing a complete line of retail banking, consumer finance and business banking services.

Media:
RLM Finsbury
David Millar, 646-805-2009
Dave.millar@rlmfinsbury.com
or
The Byrum Innovation Group
Reed B. Byrum, 864-567-7468
Reedbyrum@byruminnovation.com

KEYWORDS:   United States  North America  Massachusetts  New York

INDUSTRY KEYWORDS:

The article Gordon Baird, CEO of Independence Bancshares, Inc., to Speak at Innovation Project 2013 at Harvard University originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

(function(c,a){window.mixpanel=a;var b,d,h,e;b=c.createElement(“script”);
b.type=”text/javascript”;b.async=!0;b.src=(“https:”===c.location.protocol?”https:”:”http:”)+
‘//cdn.mxpnl.com/libs/mixpanel-2.2.min.js’;d=c.getElementsByTagName(“script”)[0];
d.parentNode.insertBefore(b,d);a._i=[];a.init=function(b,c,f){function d(a,b){
…read more
Source: FULL ARTICLE at DailyFinance

Video: Coup D’état Within The White House

By Kris Zane

In Ron Suskind’s book Confidence Men: Wall Street, Washington, and the Education of a President, the White House is described as a playpen with children running amuck, with little if any adult supervision. Larry Summers, part of Obama’s former economic “dream team,” is reported to have said “We’re home alone. There’s no adult in charge.”

In preparation for the propaganda film Zero Dark Thirty, the intelligence community hemorrhaged classified information about the Osama Bin Laden raid to mega-director Kathryn Bigelow, expecting a hagiographic ode to Obama.  But Obama and Hollywood blacklisted the movie for portraying torture as the key to getting Osama Bin Laden. Additionally, Obama was merely given a “cameo,” in which after almost thirty minutes of non-stop torture, including waterboarding, Obama appears on a TV screen in one of his idiotic softball interviews, castigating the use of torture in the previous administration and vociferously stating that he had stamped out the practice in his own administration. Obama is made to look like a fool, and his administration is portrayed as a bunch of paper pushers who could care less about avenging the deaths of thousands of Americans for the events on 9/11.

But both Larry Summers and Kathyrn Bigelow got it wrong. There is an adult in charge. There is someone in the Obama administration who is not merely a paper pusher.

Oddly, that person did not get to where she is by being elected by the American people. And oddly, she didn’t want to take out Bin Laden.

We are speaking here of Valerie Jarrett, former Chicago slum lord, born in Iran, and (as expected) was coddling Muslim extremists.  She and she alone is the reason it took the Obama administration months to take out Bin Laden after his location was made known.

In the weeks and months leading up to the killing of Osama Bin Laden, military and administration officials continually told the Obama administration that the window of opportunity was disappearing with each passing day. There were two reasons for this: Obama’s “no one in charge” manner of governing—that is, his indecisiveness–and the real power in the White House (Valerie Jarrett, chief advisor to Obama, continually subjugating and overruling kill plans made by military and administration officials.

According to a May 2011 email of intelligence giant Stratfor hacked by WikiLeaks, an internal White House source states there was a literal coup d’état within the White House—albeit temporary—overruling both Barack Obama and Valerie Jarrett’s resistance to take out Bin Laden.

In the email, Obama is described as an “absentee President” in the decision-making process to kill Bin Laden.  Every time officials would present a kill plan to Obama, Valerie Jarrett would stoke Obama’s doubts and the operation would be cancelled. In one case, officials presented a plan to drop a bomb on the compound, only to have Jarrett throw a monkey wrench into the plan.

According to the hacked email:

Initially, as he had done before, the president …read more
Source: FULL ARTICLE at Western Journalism

US Has More Than One Deficit

By Kevin Spak All Washington talks about lately is how to reduce the deficit, and indeed that “should be a key priority,” Larry Summers writes in the Washington Post . But it’s not everything. “Budget deficit obsession in conjunction with rigid bureaucratic scoring rules may preclude high-return investment” we desperately need, the former Obama
Source: FULL ARTICLE at Newser – Home