Summers of Changiness

Apr 3, 2009, 00:26



I mentioned in my article Bankrupting the world that Tim Geithner was just the face, the voice, behind the PPPIP giveaway to America s top commercial banks to restore what amounts to $200 trillion in their cumulative derivative debt. I can say today that it s even more apparent that Larry Summers is the corrupt brain behind the give-away and should go.

First, Summers and his backers persuaded Obama they had the best way to solve the worst financial crisis in history, that is, hand the keys to the banking system to a gang of hedge fund thieves. Nevertheless, a number of real economists, like professor and noted author James Galbraith (son of FDR s economic adviser John Galbraith), and Nobel Laureate Paul Krugman, warned that the bailout schemes would make things go from bad to worse...

Summers: "I've always thought that under-populated countries in Africa are also vastly under-polluted. I wonder how that would have sat with President Obama s late father who was Kenyan. It s patronizing beyond insult. And if that s how Summers calculates human value, we are in big trouble.


[link to www.the-peoples-forum.com]

Eighth, Summers fired a derivatives whistleblower at Harvard. After suffering Enron s collapse, Iris Mack, a derivatives researcher, sought a quieter life. Mack joined Harvard Management Co., a...