While many people seem to be agitating for Turbo Timmy’s dismissal, an underground drumbeat has begun calling for Summer’s head:
How can you not find some appreciation for a blog that is devoted to helping a man spend more time with his loved ones?
Economists for Firing Larry Summers:
This blog is devoted to seeing to it that Larry Summers gets to spend more time with his family.
–Thorstein Veblen
Brilliant!
Here’s a quick excerpt:
This from Vanity Fair:
Summers has plenty of other things figured out as well, including the origins of the current financial crisis, for which he has crafted a cogent explanation worthy of his reputation as a policy wonk and his days as a college debating champion at M.I.T. “I think crises like this get made by multiple cascading misjudgments,” he explains, and then catalogues them: too much government spending, not enough private-sector saving, too much dependence on foreign debt, too much demand for “riskless” financial instruments that weren’t, in fact, riskless …
The first three of these were, at best, only tangentially related. As much as I think the Bush tax cuts were a mistake, Republican inability to balance the budget really did not have anything to do with the crisis. Ditto for Private-sector saving (even though i think saving is good, generally…) Dependence on foreign debt had nothing to do with the crisis.
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