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While I appreciate Mr Summers's role in repealing Glass-Steagall and making sure that securities derivatives weren't regulated, I wouldn't have nearly so much
by geebee 15y ago
While I appreciate Mr Summers's role in repealing Glass-Steagall and making sure that securities derivatives weren't regulated, I wouldn't have nearly so much admiration for him if he hadn't also lent his support to massive taxpayer bailouts for the banking sector. I'll admit I was a little nervous that he might show some introspection when the idiots of the world challenged his world view, but he convinced me of his bravery and righteousness when he openly mocked Raghuram Rajan's paper that warned of a potential financial crisis.
I was hoping to see some of the ol' Larry Summers come out of hiberation, and I'm glad he showed some of that wit and vim when he was asked about the Winklevoss twins. What a fun and funny guy!
- cpr 15y agoWhy is this surprising? Summers is just part of the revolving door posse, having passed through Goldman after his Harvard tenure. I actually like Summers' style from what I've seen of him, and I've always been pleasantly surprised to get emails back from him when he was at Harvard and I would email him about issues that concerned me (as an old-time ('76) alumnus). I liked what he did while president, actually standing up to some of the rampant political correctness among the faculty. But we shouldn't expect him to rise above his obvious role as one of the banksters.