Barack Hussein Obama spoke of Larry Summers, whom he is considering to head the Federal Reserve, “I will always be grateful that at a time of great peril for our country, a man of Larry’s brilliance, experience and judgment was willing to answer the call and lead our economic team.” Obama says this of Summers even though as Clinton’s Treasury secretary, Summers pushed for radical deregulation allowing investment bankers to take wild risks with the federally insured deposits of ordinary folks, a disastrous move compounded when he successfully urged Congress to pass legislation banning the effective regulation of the tens of trillions in derivatives that often proved to be toxic. Obama is great at picking winners. He is inclined to make this great pick that ranks right up there with………SOLYNDRA.
Read the Article at HuffingtonPost
Image Credit: White House/Pete Souza
(H/T: Robert Scheer/TruthDig.com/ HuffPo)