Thursday, June 7, 2012
Just What We Need: the Wisdom (sic) of Larry Summers
Apparently, Larry Summers just
gave an interview to Mark Mardell of BBC News. In that interview he declared
that European leaders have a “deep and profound and
continuing failure of realism.” Who is he kidding? He may have managed well
enough as Treasury Secretary in the good times of Bill Clinton’s
administration; but, as the head of the National Economic Council, did he ever
give Barack Obama advice that would benefit the general public, rather than the
elite 1% of the financial sector? It might be extreme to presume that, had
Obama listened to more economic advisors with a broader sense of vision, we
would not have the proliferation of Occupy movements that we have today, even
if recovery was still “work in progress.” Summers has done little to benefit
either Harvard
or the Obama
administration, and it is hard to tell just what possessed the BBC to give
him their precious attention.
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