Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Ron Paul
  • Bank Credit & Money
  • Dick Young’s Safe America
  • Your Survival Guy’s Super States
  • Critical Race Theory
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money

Larry Summers, a No Go at the Fed

September 16, 2013 By Richard C. Young

Larry Summers

No one should shed a tear. The guy should no more have been the Fed chief than Dick Young should be heading the ACLU. What a relief and blessing for America!

The Washington Post explains:

Lawrence H. Summers, the former Treasury secretary and senior White House economic adviser, has withdrawn as a candidate for Federal Reserve chairman in a startling development that raises urgent questions about who will lead the central bank when Chairman Ben S. Bernanke steps down in four months.

Summers withdrew after an intense uproar among liberal Democrats, women’s groups and other advocacy organizations against his potential nomination — a highly unusual assault on the candidate who President Obama favored for the job.

Obama has said he is considering two other candidates for the post, Fed Vice Chairman Janet L. Yellen and former Fed vice chairman Don Kohn. But he was leaning toward picking Summers, people close to the White House say, and the economist’s decision to take his name out of the ring might lead Obama to pursue a wider range of candidates.

Summers helped Obama navigate the depths of the financial crisis and recession, providing a degree of support that Obama has told aides he deeply valued. No official, with the possible exception of former Treasury secretary Timothy F. Geithner, did more to influence the president’s response to the traumatic events he faced at the beginning of his term, which Obama plans to highlight this week as he marks the fifth anniversary of the financial crisis.

On Sunday, Summers telephoned the president to tell him he was withdrawing his name from consideration.

If you’re willing to fight for Main Street America, click here to sign up for my free weekly email.

Related Posts

  • RIP Larry Coryell
  • Larry Bird Interview
  • Grass Fed
  • Author
  • Recent Posts
Richard C. Young
Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.
Latest posts by Richard C. Young (see all)
  • Jean-Pierre: Economy “Not Something that We Keep an Eye on Every Day” - May 20, 2022
  • V4 Stands Against North African and Middle Eastern Invasion - May 19, 2022
  • ENERGY FREEDOM ACT: Ted Cruz Introduces Bill for Energy Independence - May 19, 2022

Dick Young’s Must Reads

  • Being Fully American Means Americans First
  • Why Some Kids Won’t Go Back to School, Ever
  • Yes! Money Can Bring You Happiness
  • Warning! Your Survival Guy’s on a Boil Water Advisory
  • The Armed American Family: Part I
  • Richard Feynman Solved the Space Shuttle Disaster Mystery
  • Why Black Lives Matter Needs to Be Shut Down
  • What to Do about China?
  • America’s Number One Patriot: Naples Florida’s Alfie Oakes
  • California’s Progressive Liberals Have Created a Monster

Disclosure

RSS Youngresearch.com

  • Job Market Survival Advice for Graduates and for Those YOU Love
  • BULLWHIPPED? Inventory Overhang Could Slow Growth in Certain Sectors
  • BUY THE DIPS? Can You Catch a Ginsu Knife?
  • MARKET TURNING: Canada’s Housing Market Turmoil
  • “I’ve Been with Richard Young for Over 30 Years Now”
  • All-Powerful Money Managers Voting YOUR Money Targeted by Senate GOP
  • HORDING CASH: Funds Hold the Highest Level of Cash Since 9/11
  • COMMODITY CRUNCH: Will Tesla Buy a Cobalt Mine?
  • Young Americans Fall in Love with Farming, Again
  • Your Survival Guy: “Sell in May, Buy After Labor Day?”

Joe Biden – Malicious, Incompetent, a Wannabe Left Wing Ideologue?

Jean-Pierre: Economy “Not Something that We Keep an Eye on Every Day”

Job Market Survival Advice for Graduates and for Those YOU Love

The Destructive Rise and Fall of BLM

What Would We Do without the Experts?

V4 Stands Against North African and Middle Eastern Invasion

Copyright © 2022 | Terms & Conditions | About Us | Dick Young | Archives