Just when you thought Obama might be the best ever rope-a-dope President this country has ever had, he still has the knack of making cabinet selections that irk the Democratic base to no end. Although comparisons to the Energizer Bunny might be more appropriate — given his ability to keep on ticking, Obama’s latest flirtation – and now fatal, prospective pick of Larry Summers as the next Federal Reserve Chairman is only the latest heresy. Here’s the rap sheet on Larry:
1. Summers rubs a lot of people the wrong way (and Bernanke doesn’t/didn’t). People want dependable and predictable plain vanilla ice cream, not a Ben and Jerry’s concoction that has a limited run and an unpredictable after taste.
2. Summers is an on-the-record chauvinist. To his dis-credit, Larry Summers has had a long and glorious history of sexists’ insults and gender discrimination. Most famously, remarking during a presentation at Harvard that women are somehow inherently less able then men in certain intellectual sciences.
3. Summers is a “tool” for the banks. Not only did he mastermind some of the biggest de-regulation efforts in the 1990’s, he actually bragged about it. He also has earned zillions (small type, that should be millions), from Wall Street investment banks over the past several years. This presents a clear and present danger and is a conflict of interest in the most extreme sense.
4. Summers has more baggage then a seven-armed bag handler at La Guardia.
As the nation waited for the President’s decision — all the crossed fingers paid off, since poor Larry capitulated and bowed out before the match had ever began. For my money, all bets are on Janet Yellen to be announced as the first female Federal Chairmen this nation has ever had. Similar to the tri-fecta pairing of Elizabeth Warren, Sheila Bair and Mary Swartz made as the greed fighting trio of the defacto fifth column for the federal government, Yellen is a selection that’s as safe as Mom’s homemade apple pie —- with a side of plain vanilla ice cream.