Senator Elizabeth Warren condemned the Obama Administration for perpetually siding with Wall Street instead of Wall Street’s victims. In an interview with Salon conducted by Thomas Frank, Senator Warren noted her frustration with the economic team President Barack Obama put together and claimed that they promoted the interests of Wall Street rather than families losing their homes, students mired in debt, and clients that had been defrauded.
|By: DSWright Monday October 13, 2014 1:14 pm|
|By: DSWright Wednesday August 14, 2013 11:15 am|
The Center for American Progress (CAP), a progressive front group for corporate Democrats, has decided to go on the record in assisting Larry Summers’ quest to become Chairman of the Federal Reserve.
|By: David Dayen Monday March 26, 2012 10:05 am|
Ben Bernanke gave a speech today about the economy and the labor market that I’ve seen variously described as too pessimistic and too optimistic. I think both sides are right. The main problem is weak demand, not a mismatch of available jobs vs skills, and as Summers/DeLong write, we still need more stimulus even though the economy is slowly improving.
|By: David Dayen Friday March 23, 2012 8:15 am|
In that rarest of Washington events, a surprise choice, President Obama will nominate Dartmouth College President Jim Yong Kim to head up the World Bank. After confirming that there is, in fact, a Jim Yong Kim and this is not Larry Summers in disguise (“Barry Mummers” would have been too on the nose), I looked into Kim’s credentials.
|By: David Dayen Tuesday October 11, 2011 3:55 pm|
It was just a week ago that Republicans tried to denigrate the Occupy Wall Street protesters as a “dangerous” “mob” who needed to “get a job” rather than “pit Americans against Americans.” Then they must have gotten the polling. So now, they’re changing their tune.
|By: David Dayen Monday September 19, 2011 4:00 pm|
Treasury Secretary Timothy Geithner forcefully denied the claim in a book by Ron Suskind that he ignored a request from the President to work up a plan to dissolve Citigroup. He further added that the entire theme of the book, about infighting in the White House over economic policy issues, bears “no resemblance to reality.”
|By: David Dayen Friday February 4, 2011 2:10 pm|
Keep in mind that we have a letter signed by Larry Summers, during the transition, saying that the Administration will undertake “reforming our bankruptcy laws” to help keep homeowners in their homes. And we have assurances delivered in writing to lawmakers like Donna Edwards and Jeff Merkley that they would take this up. All of this has gone down the memory hole now, but this was a fundamental promise, and they broke it. As a result, we have a program to help homeowners that it entirely voluntary on the part of the servicer, with predictable results.
|By: David Dayen Tuesday December 14, 2010 5:15 pm|
Larry Summers made his swan song yesterday, and he didn’t give an inch. Speaking at the Economic Policy Institute, where he didn’t have a very favorable audience, Summers insisted that the actions of the Obama Administration were necessary and positive, and that the country was spared the worst expected effects of the Great Recession. The best outcome of that speech would be if it were the last one Summers ever gave. Or at least, the last one any respectable human would bother listening to.
|By: David Dayen Friday December 10, 2010 8:42 am|
The President predicted that his tax plan would pass Congress, saying specifically that “nobody — Democrat or Republican — wants to see people’s paychecks smaller on Jan. 1 because Congress didn’t act.”
But if Congress does act, people’s paychecks will get smaller – a substantial amount, actually. And it will be a particular subset of people – the working poor, people who make under $20,000 a year, or families under $40,000.
|By: David Dayen Wednesday December 8, 2010 1:35 pm|
Larry Summers just dusted off the bazooka, telling reporters that, if Obama’s tax deal doesn’t pass, the failure will “materially increase the risk” that the economy will stall out and we will experience a double dip recession. Summers added that without a bill, economic analysts will issue downward revisions in growth/employment.
I really think it’s time to engage with the economic impact of the deal.