Obama: Next Fed Chair Should Consider Ordinary People

Well then, President Obama just assured us that he will not be picking Larry Summers as the next chariman of the Federal Reserve. I, for one, am heartened by this wonderful news. I know that I am being facetious, but if anyone thinks that Lary Summers will ever consider ordinary folk while fulfilling his duties as chairman of the Fed, they would be in for a rude awakening. He demonstrated during his tenure as Harvard President that he was deficient with his people skills, he made some very poor investment choices and Harvard, as an institution, was relieved upon his leaving, those are very important aspects of his management style to consider. I don’t believe that he did any better when he served under the Obama administration, he said some inappropriate things as a matter of record comparing his President unfavorably to former President Clinton and Larry Summers folded instantly to the Wall Street gang when it came to any types of regulation or supervision during the bail out. I am keeping my fingers crossed for Janet Yellan who has the needed experience and the relationhips with the other Federal Board members and who has written about the need to buoy the middle class and the working classes during their ongoing recession. Don’t forget that whatever recovery we have seen, it has only gone to the upper percent of our economic society, the rest of the 99% are still struggling and recessioning, there a new tense for the word recession.
Read the Article at HuffingtonPost

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Tags: Larry Summers, politics, postaday2013, President Clinton, President Obama