Monday, November 15, 2010

"Summers Cast as Dysfunctional Force"

Read it here.

Revelations are that he opposed the Volcker rule, second that he nixed the jobs tax credit, and third that he strong-armed the EPA into not treating coal ash as a hazardous waste.

Surprising he didn't just suggest sending the non-hazardous coal ash to third-world countries, which are inefficiently under-polluted given that their meager incomes make it impossible for them to be able to put high dollar-values on not living near toxic waste.

How long before Larry-I'll-let-you-know-Ken Lay-if-anything-helpful-for-Enron-crosses-my-Treasury-desk-Summers picks up more "adviser" fees from the financial or coal industries?

In any case, the article says nothing about Summers' role in the three big economic policy mistakes of this administration: 1. The small stimulus, 2. Reappointing Ben Bernanke, 3. The fateful (by which I mean stupid) decision to wait for nearly two years on an FOMC appointment, when the rest of the FOMC is stocked with crazies. I would guess the reason is that the people who are dishing on Summers now don't realize these were mistakes, or else they too were on the dumb side of these horrific lapses in judgment which have helped to make Obama the great failed hope of our generation.

Yes, yes, we "got" health care, but still, a once-in-a-lifetime opportunity has been squandered, and Larry Summers is a key villain. As much as I've got it in for Summers, though, I'd have to say Harry Reid/the White House's political people probably deserve as much if not more blame. They clearly should have just worked to pass the best policies, not to senselessly go after bi-partisan compromises. They could have pushed through as much as they wanted, for no one cares about Senate "process", instead they settled for a few (important) but watered-down bills. They did a lot, but given that we had a once in a lifetime majority given to us by Lehman/Palin, it wasn't enough. And thanks mostly to Summers, that majority is now history.

1 comment:

  1. The cossacks work for the Czar.

    It ain't Summers, it ain't Reid (well, maybe a little), it's Obama, who still thinks that the problem is that he is not being nice enough for Republicans to recognize how awesome he is.