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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: Larry Summers

Larry Summers stories: 36 news summaries

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Disgruntled Dem Wants Geithner, Summers Sacked

Peter DeFazio says White House betrayed Main St. for Wall St.

Nov 19, 09 10:42 AM CST
(Newser) - Rep. Peter DeFazio wants Barack Obama to fire the Larry Summers and “Timmy Geithner” for being Wall Street lap dogs, and says there’s a “growing consensus” in the Progressive Caucus that agrees with him. Summers and Geithner oppose a Progressive proposal to use unspent TARP funds to... More »

MORE ABOUT:
Barack Obama • Wall Street • Goldman Sachs • Larry Summers • Wall Street bailout • Timothy Geithner • TARP • Peter DeFazio • progressives

PAUL KRUGMAN

 In Switch, 
 'Real Economy' 
 Hits Big Banks 

Slumping profits are 'payback' from Main Street whipped by bad practices

Oct 19, 09 9:49 AM CDT
(Newser) - Those concerned about the nation’s banks should forget about the “softly, softly policy” of the Obama administration that has allowed Goldman Sachs to go back to business as usual in spectacular fashion. The real problem, Paul Krugman writes, is banks like Citi and Bank of America that are... More »

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Bank of America • Goldman Sachs • recession • Citibank • credit crisis • Paul Krugman • lending practices • Larry Summers • Obama administration • financial crisis • economic downturn

Obama Vows
to End 'Fat'
Exec Bonuses

Summers sees
'death panel' tactics from reform foes

Sep 19, 09 9:44 AM CDT
(Newser) - President Obama used his weekly radio address today to promise a continued crackdown on risky investment schemes that result in "fat executive bonuses" on Wall Street, reports Reuters. Obama pledged to use next week's G20 summit in Pittsburgh to push for sweeping reform of the world's financial markets. "... More »

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Wall Street • Larry Summers • G20 • President Obama • executive bonuses • financial reform

OPINION

Obama Should Have Put Wall Street on Trial

But he didn't, and now GOP fat cats can somehow play populist

Sep 8, 09 8:22 AM CDT
(Newser) - How can rich fat cats like Glenn Beck and Rush Limbaugh pretend to be populists, while tarring Barack Obama as the establishment? Because Barack Obama missed his chance to strike a blow for the little guy and prosecute Wall Street, writes communications professor Jon Taplin. Instead, he listened to Wall... More »

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Barack Obama • Wall Street • Rush Limbaugh • Glenn Beck • populism • Larry Summers • financial crisis • Timothy Geithner • executive bonuses

OPINION


 Change the Fed, 
 Keep Bernanke 


Aug 14, 09 6:52 AM CDT
(Newser) - The Federal Reserve is ripe for some major changes everywhere but at the top, Steven Pearlstein writes for the Washington Post. It's finally clear that the job "involves a lot more than adjusting interest rates," and we've seen the drain that happened when we "left the previous... More »

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Ben Bernanke • Federal Reserve • Larry Summers • bank regulation • financial crisis • Steven Pearlstein

Obama Cracks Whip, Cites Progress on Health Reform

'Now we've got to get over the finish line,' President tells Congress

Jul 17, 09 4:34 PM CDT
(Newser) - President Obama today praised “unprecedented progress” in Congress on health-care reform, the Boston Globe reports. In a hastily scheduled appearance meant to galvanize support amid some signs this week of Democratic dissent, Obama said he remained “absolutely convinced” a bill would be passed this year. “The last... More »

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health care • Barack Obama • health care costs • health care reform • Larry Summers • Obama administration • President Obama

OPINION

Geithner, Summers Outline New Regulatory System


Jun 15, 09 8:33 AM CDT
(Newser) - The current financial regulatory system “is riddled with gaps, weaknesses, and jurisdictional overlaps,” Treasury Secretary Timothy Geithner and Obama economic guru Larry Summers write in today’s Washington Post. They outline, in broad strokes, their plan to fix it:
  • Capital and liquidity requirements will be raised
... More »

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Federal Reserve • capital • liquidity • regulation • securities • Larry Summers • bank regulation • Obama administration • Timothy Geithner

Everybody Hates Larry

Presence of divisive Summers cranks up tensions on Obama's economic team

Jun 8, 09 7:58 AM CDT
(Newser) - On his 54th birthday, Tim Geithner brought Larry Summers a cake, and the guest of honor ad-libbed some lyrics, bellowing, “for he’s an unpleasant fellow,” rather than “for he’s a jolly good fellow.” In the months since, his colleagues have wondered if he was... More »

MORE ABOUT:
Larry Summers • economic adviser • Obama administration • Timothy Geithner • National Economic Council

(Newser) - The Obama administration may create a government agency with sweeping powers to protect consumers who use financial products such as mortgages, mutual funds, and credit cards, reports the Washington Post. Current protections are scattered throughout several agencies. The new plan would corral them under one regulatory commission and create tougher... More »

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investors • consumer protection • Larry Summers • Timothy Geithner

$5.2M Wall St. Ties Haunt President's Economic Czar

Is Summers too close to hedge fund pals?

Apr 6, 09 1:27 AM CDT
(Newser) - President Obama's chief economic adviser worked as a consultant only one day a week for the DE Shaw & Company hedge fund in New York, which paid him an eye-popping $5.2 million in just two years. Larry Summers was a prized "marquee" consultant who met with clients regularly,... More »

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Wall Street • Harvard • Larry Summers • Obama administration • President Obama • DE Shaw & Co.

(Newser) - CEOs of the nation’s largest banks today assured President Obama they understand their institutions are vital to economic recovery and pledged to do all they can to help the government, Bloomberg reports. Following today’s White House meeting, Wells Fargo’s CEO said “the basic message” of the... More »

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White House • Wells Fargo • John Stumpf • Larry Summers • Obama administration • Wall Street bailout • President Obama • meeting

ANALYSIS

 Obama Needs 
 Help Selling 
 Economic Plans 

His team lacks common touch

Mar 24, 09 10:36 AM CDT
(Newser) - The White House economic team is great on policy, but when it comes to reassuring the public, President Obama is on his own, Peter Nicholas and Peter Wallsten write in the LA Times. "The ability to communicate with average people was not what these people were chosen for,"... More »

MORE ABOUT:
Treasury Department • economic stimulus package • Larry Summers • economy • Obama administration • Wall Street bailout • President Obama • Timothy Geithner • Christina Romer

OPINION

White House Foists Bonus Blame on Dodd

Guilty Obama officials seek to shift AIG fault, press plays along

Mar 18, 09 9:31 AM CDT
(Newser) - The White House is trying to pass the AIG bonus blame to Sen. Chris Dodd, pointing to his hand in an executive-compensation clause inserted into the stimulus bill—and journalists are letting it happen, writes Glenn Greenwald in Salon. Actually, the bonuses were only possible because the Obama administration insisted... More »

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New York Times • Chris Dodd • AIG • bonuses • economic stimulus package • Larry Summers • Timothy Geithner

OPINION

 Give Summers' 
 Genius More Leeway 

To combat crisis, perhaps Obama's economic genius should be given free reign: Scheiber

Mar 16, 09 3:13 PM CDT
(Newser) - The most common worry over Larry Summers’ directorship of President Obama’s economics advisory council has been that his hard-charging intellectual style would alienate politicians the administration needs, writes Noam Scheiber in the New Republic. But considering Summers’ experience as Clinton’s Treasury Secretary, as well as his prescient 1991... More »

MORE ABOUT:
Larry Summers • Obama administration • financial crisis • President Obama • Timothy Geithner • Lawrence Summers • recession depression • National Economic Council

(Newser) - Larry Summers sounded a note of cautious optimism today about President Obama's stimulus plan, the Washington Post reports. While it's way too early to assess its "broader economic impact," Obama's chief economic adviser called it "moderately encouraging" that consumer spending appears to be back on track. More »

MORE ABOUT:
Brookings Institution • credit crisis • fear • economic stimulus package • Larry Summers • greed • Obama administration • financial crisis • President Obama • Lawrence Summers

ANALYSIS

Obama's Clinton Retreads Followed Voters Leftward

Seemingly centrist appointments have not produced a centrist government, Douthat writes

Mar 10, 09 6:00 PM CDT
(Newser) - When Barack Obama announced his Cabinet appointments, conservatives and liberals alike looked at the numerous Clinton veterans and wondered if Obama the president would be much more centrist than Obama the candidate. Now, “Obama is proposing the most thoroughgoing transformation of domestic policy offered by any President since Reagan,... More »

MORE ABOUT:
Barack Obama • Hillary Clinton • Larry Summers • Obama administration • Obama Cabinet • political appointment

Obama Team Pushes for Global Stimulus, Euros Resist

Worldwide spending plan has fans in China, detractors in Europe

Mar 9, 09 8:30 AM CDT
(Newser) - The Obama administration will press for a global stimulus at next month's G20 conference in London, setting up a possible showdown with European nations wary of further deficits, reports the Wall Street Journal. US officials, supported by Britain and China, say that more public spending is needed to reverse the... More »

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economic stimulus package • Larry Summers • G20 • Obama administration • Lawrence Summers

OPINION

 Obama Should Draft Krugman 

NYT columnist would do a lot better than Geithner and Summers

Feb 19, 09 3:11 PM CST
(Newser) - Barack Obama’s economic team so far has failed to inspire confidence, writes Steven Stark for the Boston Phoenix. Instead of Geithner and Summer, Obama should pick a new man to lead the charge on the financial crisis: Appoint Paul Krugram, Nobel laureate and economics columnist for the New York ... More »

MORE ABOUT:
Paul Krugman • Larry Summers • economic adviser • deregulation • financial crisis • Timothy Geithner • car czar

Obama Names Economic Panel, Volcker to Lead

Drawing on industry and academia, Obama hopes to avoid Beltway vacuum

Feb 6, 09 7:06 AM CST
(Newser) - The White House today named a team of economic advisers, led by former Fed chairman Paul Volcker, to help shape the economic recovery with voices from outside the Beltway, the Washington Post reports. With an initial term of 2 years, the White House Economic Recovery Advisory Board will add to... More »

MORE ABOUT:
Martin Feldstein • Paul Volcker • Jeffrey Immelt • Larry Summers • economic adviser • Obama administration • Timothy Geithner • Economic Recovery Advisory Board

OPINION

Democrats: Please Listen to Larry Summers

Party has ditched his wise stimulus ideas
of summer

Jan 30, 09 1:27 PM CST
(Newser) - Throughout 2008 Larry Summers was proposing the right kind of stimulus—fast, targeted, and temporary. “Poorly provided fiscal stimulus can have worse side effects than the disease,” he warned. Now Summers is a top Obama adviser, but Democrats are ignoring his every proviso. The stimulus is a “... More »

MORE ABOUT:
budget deficit • economic stimulus package • Larry Summers • fiscal policy

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