I had read the “Shleifer” debacle while gathering information on Born, Mack, and Dorgan. My mini-article was getting too long as it was and few people will read beyond two paragraphs in this modern internet and acronymically text messaging world.

Favoritism is the modus operandi of Washington DC. It is no mistake that Paulson, Bernanke, Geithner, Summers, Greenspan, etc., the very ones who have led us to today’s bailout, hail from W$ the place responsible for the present economic crisis requiring a bailout. Breaking that norm is close to impossible.

Obama is a University of Chicago Democrat and has hobnobbed with “freshwater” economists who are centered there and the likes of which would include Milton Friedman, Lucas, Cochrane, etc. I suspect he was influenced by them. While Summers and Geithner are “saltwater” influenced, all appear to have that tie to W$. I was never a fan of Summers and had written Obama a letter suggesting there were better candidates who were not prejudiced to be had. Instead, we got “Timmie.”

Thank you for your reply and the additional articles to review. I will add them to my knowledge base.

” Personality, ego, and a blind belief in the ability of the market place to dictate the proper path and the correction has gotten in front of common sense. Maybe it is time to sideline Summers and his protégé Geithner in favor of Born, Mack, and Dorgan. Each has shown more foresight into how today’s problems and issues were created and how to resolve them.”

It is time to sideline Summers. His advice has clearly led us down the path to financial crisis. Here’s another Summers’ caper:

Andrei Shleifer, a close friend of Summers cost Harvard a $26 million settlement with the U.S. government. A federal court found Shleifer liable for conspiracy to defraud the U.S. Government, after Shleifer violated conflict-of-interest rules by making secret investments in Russia at the same time he was working for a Harvard group contracted by the U.S. Government to advise the Russian government. While Shleifer was being investigated, Summers pushed to have Shleifer promoted to a prominent chair at Harvard. http://www.opednews.com/articl.....6-709.html

3 additional pertinent articles:

a. ” The Enemy Within: President Obama Must Dump Summers?To Save His Presidency” by Debra Hanania-Freeman, ”http://www.larouchepub.com/other/2009/3613must_dump_summers.html

b. ”Eight reasons to dump Larry Summers”,
http://www.larouchepub.com/oth.....mmers.html

c. ”Larry Summers, Tim Geithner and Wall Street’s ownership of government”http://www.salon.com/opinion/g.....4/summers/

It’s scary that Summers is advising Obama.

http://www.youtube.com/watch?v=ciiKONDAucc

If the conventional wisdom is that we “had to have Summers no matter what” than the people who think that way have not just poor judgement but no judgement. This economy will right itself—-let’s hope the perpetrators won’t get the undeserved credit of fixing it!!!