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Larry Summers Said To Leave White House In Two Months

Tyler Durden's picture





 

And then there was one, even if it was a TurboTax One. Bloomberg headlines flashing that Larry Summers is dunzo in November. He follows such other economic failures as Romer and Orszag, both of whom left the economy in a far more horrendous state than they found it. We wish godspeed to Larry, and hope he managed to get thick windows in the limo that will take him to his next private sector job, presumably somewhere above the 40th floor in 200 West.

From Bloomberg:

White House officials expect
Lawrence Summers to leave his job as the president’s National
Economic Council director after November’s congressional
elections, according to three people familiar with the matter.

His departure would leave Treasury Secretary Timothy Geithner as the only member of President Barack Obama’s original
top-tier economic team. Summers, 55, and the president have
discussed his future plans, according to one person.

Administration officials are weighing whether to put a
prominent corporate executive in the NEC director’s job to
counter criticism that the administration is anti-business, one
person familiar with White House discussions said. White House
aides are also eager to name a woman to serve in a high-level
position, two people said. They also are concerned finding
someone with Summers’ experience and stature, one person said.

The people familiar with White House discussions spoke on
condition of anonymity because no decisions have been made.

White House officials declined to comment directly on
Summers’ plans. Robert Gibbs, Obama’s chief spokesman, said
today it “is not a surprise, that there will be people who have
worked enormously hard over the past few years to make decisions
to go back to doing” what they did before joining the
administration.

The second half of a president’s term typically is a time
of turnover in staff and advisers, many of whom also had roles
in the presidential campaign. Obama yesterday indicated he
realized that some members of his White House economic team may
leave.

“This is tough, the work that they do,” he said in an
hour-long town hall discussion on the economy broadcast on CNBC.
“They’ve been at it for two years, and they’re going to have a
whole range of decisions about family that will factor into
this, as well.”

Since the end of July, Peter Orszag, director of the Office
of Management and Budget, and Christina Romer, the head of the
Council of Economic Advisers, left the administration.

Obama said yesterday he has “not made any determination
about personnel.” He praised Summers and Geithner, as well as
the rest of his economic advisers, saying that they “have done
an outstanding job.”

Yup. Whoever said destroying the economy is an easy job has obviously never tried it.

 

 


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Tue, 09/21/2010 - 15:54 | Link to Comment VK
VK's picture

Fuck Summers! That douchebag is destroying America. In another place and time, his actions would have counted as treason. Thanks for repealing Glass-Steagal yo! I did enjoy his Harvard stint though, if he'd stayed longer, they'd have gone bankrupt and been shut down, a guy can dream can't he?

Tue, 09/21/2010 - 15:59 | Link to Comment Tom Servo
Tom Servo's picture

Don't let the door hit you in the vagina on the way out :)

 

Tue, 09/21/2010 - 16:18 | Link to Comment Village Idiot
Village Idiot's picture

laugh of the day! thanks.

Tue, 09/21/2010 - 16:28 | Link to Comment MarketTruth
MarketTruth's picture

Suggested music:

 

Bum, bum, bum.

Another one bites the dust

Bum, bum, bum.

Another one bites the dust

And another one gone

And another one gone

Another one bites the dust

Hey, I'm gonna get you too

Another one bites the dust

Tue, 09/21/2010 - 16:56 | Link to Comment dlmaniac
dlmaniac's picture

Summers was the one executing Rubin's "strong Dollar" gold dumping scheme.

Tue, 09/21/2010 - 16:57 | Link to Comment Spalding_Smailes
Spalding_Smailes's picture

 


"Larry Summers is to modesty what Madonna is to Chastity."

--Paul Gigot, 1995

Tue, 09/21/2010 - 17:06 | Link to Comment DarkMath
DarkMath's picture

DING DONG THE WITCH IS DEAD, THE WITCH IS DEAD

Come on everybody sing with me:

http://www.youtube.com/watch?v=rHJoj9IqeKg&feature=related

Ding Dong! The Witch is dead. Which old Witch? The Wicked Witch!
Ding Dong! The Wicked Witch is dead.
Wake up - sleepy head, rub your eyes, get out of bed.
Wake up, the Wicked Witch is dead. She's gone where the goblins go,
Below - below - below. Yo-ho, let's open up and sing and ring the bells out.
  Ding Dong' the merry-oh, sing it high, sing it low.
Let them know The Wicked Witch is dead!

As Mayor of the Munchkin City, In the County of the Land of Oz, I welcome you most regally.

But we've got to verify it legally, to see

To see?

If she

If she?

Is morally, ethic'lly

Spiritually, physically

Positively, absolutely

Undeniably and reliably Dead

As Coroner I must aver, I thoroughly examined her.
And she's not only merely dead, she's really most sincerely dead.

Then this is a day of Independence For all the Munchkins and their descendants

If any.

Yes, let the joyous news be spread The wicked Old Witch at last id dead!

Tue, 09/21/2010 - 18:41 | Link to Comment Pez
Pez's picture

Weird, when I heard this news, that's the song that went through my head! The question is who will wear his ruby red slippers ( or should I say crimson?) Please keep your Harvahd Business School nominees back in the Ivory(Ivy) Tower.

Tue, 09/21/2010 - 19:13 | Link to Comment sgt_doom
sgt_doom's picture

Ha, ha!  Thanks Tom, but we all doubt if that douchebag Summers could even find his own vagina, or realized he'd been smashed there.

Tue, 09/21/2010 - 19:04 | Link to Comment nmewn
nmewn's picture

Larry leaving?!?...LOL.

Rats...listing ships...etc.

Somewhere in America a university president's pucker factor just redlined.

Wed, 09/22/2010 - 01:28 | Link to Comment StychoKiller
StychoKiller's picture

His departure would leave Treasury Secretary Timothy Geithner as the only member of President Barack Obama’s original top-tier economic team.

If this is the "Top-Tier", heaven save us from the replacements!

Tue, 09/21/2010 - 15:54 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Friends help you move.

Real friends help you move Larry Summers body out of the White House. :>)

Joking folks, just joking.

Tue, 09/21/2010 - 15:59 | Link to Comment etrader
etrader's picture

Speaking of House's...

It gives more credence to the mortgage Refi rumor coming down the pipe with  larry  out of the way.

Tue, 09/21/2010 - 16:06 | Link to Comment ZackLo
ZackLo's picture

Yeah Larry's dipping before the fireworks start in december.Lets just say it's probably going to be a red christmas...Those houses are going to have to be appraised sometime.....

Tue, 09/21/2010 - 19:03 | Link to Comment doolittlegeorge
doolittlegeorge's picture

that's interesting.

Tue, 09/21/2010 - 15:58 | Link to Comment VK
VK's picture

Mission Accomplished: Recession is over.

Reality: Collapse has just begun.

Reality: Summers will get paid millions by his buddies on Wall Street while living in Argentina a few years from now.

Tue, 09/21/2010 - 16:01 | Link to Comment Bam_Man
Bam_Man's picture

Argentina wouldn't allow scum like him in.

He'll wind up in Paraguay or Nigeria.

Tue, 09/21/2010 - 16:45 | Link to Comment AccreditedEYE
AccreditedEYE's picture

Let's also not forget his great love of Elizabeth Warren... after the thought of having to bump into her on occasion in the White House may have been the cherry on top. LOL

Tue, 09/21/2010 - 16:26 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

assemble the hit team...

he should not be allowed to walk the streets...

not kidding....

Tue, 09/21/2010 - 18:19 | Link to Comment Haywood Yablomi
Haywood Yablomi's picture

You say that as if he's even capable of walking in the first place.  I doubt it.

Tue, 09/21/2010 - 19:59 | Link to Comment RockyRacoon
RockyRacoon's picture

Throw in some chewing gum and it's a no-go.

Tue, 09/21/2010 - 17:17 | Link to Comment Sudden Debt
Sudden Debt's picture

you do realize you're IP adress has been traced and as we speak a white van is parking before your driveway do you?

Tue, 09/21/2010 - 20:31 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Yes I do realize. And I don't have a driveway so you must be speaking to someone else.

Do you realize that you're no safer in Belgium?

Tue, 09/21/2010 - 23:26 | Link to Comment Hephasteus
Hephasteus's picture

Hey now he may have a waffle iron if he's in belgium.

Tue, 09/21/2010 - 20:58 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

u do realize that i dont give a fuck...

this is class warfare...when fear exits one becomes free...

fuck a banker....

Tue, 09/21/2010 - 21:36 | Link to Comment kathy.chamberli...
kathy.chamberlin@gmail.com's picture

i am  Kaiserin

Tue, 09/21/2010 - 21:12 | Link to Comment nmewn
nmewn's picture

My frightened little euro-peon friend...we're all uncouth rednecks now ;-)

Tue, 09/21/2010 - 18:01 | Link to Comment knukles
knukles's picture

Nah, he was pushed out the door, the PTB having learned from the Vince Foster resignation.

Tue, 09/21/2010 - 15:53 | Link to Comment NOTW777
NOTW777's picture

time for cnbc to have a panel discussion with all the rocket scientists from the WH

Tue, 09/21/2010 - 15:54 | Link to Comment Battleaxe
Battleaxe's picture

More rats jumping ship.

Tue, 09/21/2010 - 15:58 | Link to Comment Henry Chinaski
Henry Chinaski's picture

+1

and there will be more...

Gates is gone too.  Has anyone else noticed that the Generals are pretty much in open rebellion these days? Maybe the Marines will convoy up from Quantico and clean house. 

Tue, 09/21/2010 - 16:25 | Link to Comment Battleaxe
Battleaxe's picture

I think he wants to go start spending some of the cash he funneled to himself before it isn't worth anything.

Tue, 09/21/2010 - 18:05 | Link to Comment knukles
knukles's picture

Come to think of it........

Whatever did happen to that $8 Billion of Palatized Federal Reserve Notes that was allegedly flown out of Iraq on US Military transport planes?

Tue, 09/21/2010 - 21:38 | Link to Comment Mad Max
Mad Max's picture

Well, Dubya Bush has a nice new ranch in Paraguay, and I don't think it was free.

Wed, 09/22/2010 - 01:31 | Link to Comment StychoKiller
StychoKiller's picture

Is that a different $8Billion from the batch missing in Afghanistan?

Tue, 09/21/2010 - 19:04 | Link to Comment doolittlegeorge
doolittlegeorge's picture

i'll take the other side of that trade.

Tue, 09/21/2010 - 15:54 | Link to Comment Mongo
Mongo's picture

Good riddance... then again maybe it's mission complete for him so it's time to cash in!

Tue, 09/21/2010 - 16:01 | Link to Comment Confused
Confused's picture

funny thing is, you may be right

Tue, 09/21/2010 - 15:58 | Link to Comment Dagny Taggart
Dagny Taggart's picture

The rats fleeing the sinking ship. Maybe Mr. Banzai7 can update his dooshbag survivor pic?

Tue, 09/21/2010 - 15:56 | Link to Comment SheepDog-One
SheepDog-One's picture

Must keep.....DOW....GREEEN!! Must pump....for...all is well....drive home ABC news....broadcast.....tell sheeple.....all is well...nothing to see here... buy stocks..

Tue, 09/21/2010 - 15:57 | Link to Comment tip e. canoe
tip e. canoe's picture

"according to three people familiar with the matter."

1 silver maple says it's a ruse to soften the libs.

Tue, 09/21/2010 - 22:02 | Link to Comment tip e. canoe
tip e. canoe's picture

someone should have taken the other side.  unlike Larry, i would have paid up.

Tue, 09/21/2010 - 15:57 | Link to Comment Internet Tough Guy
Internet Tough Guy's picture

First he blew up Harvard, then the USA. Who will he work for next, Ming the Merciless?

Tue, 09/21/2010 - 16:01 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Actually you're close. I'm hoping he goes to work for the Chinese and shows them how to bust a bubble American style.

Tue, 09/21/2010 - 16:08 | Link to Comment svendthrift
svendthrift's picture

He also assisted the looting of post-USSR Russia (the economy ended up in the hands of his friends). He and Tim G were knee deep in Mexico during their crisis too. Larry Summers is the real-world equivalent of a Sith.

Tue, 09/21/2010 - 16:48 | Link to Comment Mad Max
Mad Max's picture

That explains why he looks like a chubby, bloated Palpatine...

Tue, 09/21/2010 - 18:08 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

With vaginal throat folds.

Tue, 09/21/2010 - 15:59 | Link to Comment Hansel
Hansel's picture

I wonder which bank hired him.

Tue, 09/21/2010 - 16:03 | Link to Comment etrader
etrader's picture

BIS or Carlyle Group will no doubt be pitching.

If all else fails Soc-Gen are always on the look out for Phd's ;>

Tue, 09/21/2010 - 16:08 | Link to Comment AccreditedEYE
AccreditedEYE's picture

My money is on Blackstone.. they love to hire "washed-up has-been's".

http://www.blackstone.com/cps/rde/xchg/bxcom/hs/firm_commentary_2010-09-08.htm

Tue, 09/21/2010 - 15:59 | Link to Comment chet
chet's picture

Will a carpet shampoo get the stench of failure out of his office?

Tue, 09/21/2010 - 16:03 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Nope.

Carpets, throw rugs, linen, towels (the ones he doesn't steal) will all need to be replaced. It will give Michele something to do after midterms.

Tue, 09/21/2010 - 16:16 | Link to Comment DaveyJones
DaveyJones's picture

I hear he chewed the carpet

Tue, 09/21/2010 - 16:58 | Link to Comment Steaming_Wookie_Doo
Steaming_Wookie_Doo's picture

Yeah, and that concentrated Larry urine never really fully comes out.

Tue, 09/21/2010 - 18:09 | Link to Comment knukles
knukles's picture

No modern technology, mind you.  Just a good old fashioned hand washing in the stream, beating the rags on the rocks in the Potomac behind the Lincoln Memorial. 
Can hear the strains from heaven, "Swing Low, Sweet Chariot...."

Tue, 09/21/2010 - 19:22 | Link to Comment Reductio ad Absurdum
Reductio ad Absurdum's picture

But then how do you get the Obama stench out of the White House? I think we'll just have to burn it down and build a new one.

Tue, 09/21/2010 - 20:04 | Link to Comment RockyRacoon
RockyRacoon's picture

You've reduced the argument to the absurd.

Oh, wait....

Tue, 09/21/2010 - 16:01 | Link to Comment unwashedmass
unwashedmass's picture

 

finally. thank god.

now, maybe we can begin healing.

Tue, 09/21/2010 - 16:06 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

As he dove out the window with some silverware and a Copley replica.

Tue, 09/21/2010 - 16:01 | Link to Comment Ripped Chunk
Ripped Chunk's picture

See Ya Larry  !!!  He wants to spend time with his new bride........in Paraguay.

Timmy is the last.

 

Tue, 09/21/2010 - 16:04 | Link to Comment ziggy59
ziggy59's picture

"And then there was one, even if it was a TurboTax One."

TD -that was friggin funny!!

 

one dick to rule them all and in the darkness fuck them.

 

Wed, 09/22/2010 - 01:34 | Link to Comment StychoKiller
StychoKiller's picture

Ya know, I've seen a lot of funny comments on this site, but yours is the first one that actually made me laugh!  Keep up the good work! :>D

Tue, 09/21/2010 - 16:04 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

He's leaving while he's at the top of his game.

Tue, 09/21/2010 - 16:04 | Link to Comment GIANTKILR
GIANTKILR's picture

Who got left holding the bag? Timmaaaay!

Tue, 09/21/2010 - 16:05 | Link to Comment DonnieD
DonnieD's picture

Going back to teach the next generation of economic rapists how to fuck over everyone in America not living in NYC or DC zip code.

Tue, 09/21/2010 - 16:06 | Link to Comment carbonmutant
carbonmutant's picture

 After prostituting himself to the current administration he's now being dumped back on the streets.

Tue, 09/21/2010 - 16:26 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

One hopes the poor fool was paid first.

Tue, 09/21/2010 - 16:10 | Link to Comment svendthrift
svendthrift's picture

Romer, Orszag and Summers are gone. Only Tim G left. Seems the cabal showed up to do the looting for their people and left, leaving the naive Tim G to remain. Rubin must be smiling.

Putin for President: http://www.theoccidentalobserver.net/articles/MacDonald-Georgia.html

Tue, 09/21/2010 - 16:09 | Link to Comment goldmiddelfinger
goldmiddelfinger's picture

My guess is Obama appoints Charlie Munger

Tue, 09/21/2010 - 16:39 | Link to Comment Chris Jusset
Chris Jusset's picture

My guess: Paul Krugman

 

(God help us)

Tue, 09/21/2010 - 16:42 | Link to Comment svendthrift
svendthrift's picture

Oh my. Krugman.. We'll get a trade war, hyper inflation, national bankruptcy and a really rockin' Upper West Side.

Tue, 09/21/2010 - 18:44 | Link to Comment Shameful
Shameful's picture

I can only pray it's Krugman!  Who better then Krugman?  If you need to find a more crazed lunatic on economics then Summers you got to dig down deep, and the only choice is Krugman!

With Krugman on the team we should be back to working with sticks and rocks in 6 years, 5 if he puts in OT.  Sure he might kill America dead and plundge us into a new dark age but at least it would put another stake in the heart of Keynesian economics.  And on the plus side, could there be a bigger buy signal for gold then having Krugman in a position of power?  Gold Bugs join me, and write in support for our favorite nut job, Krugman.

Krugman = Gold $Infinity

Tue, 09/21/2010 - 20:26 | Link to Comment ciao
ciao's picture

Stiglitz = Gold $Infinity2

Tue, 09/21/2010 - 21:38 | Link to Comment kathy.chamberli...
Tue, 09/21/2010 - 20:39 | Link to Comment malek
malek's picture

Nah.
Krugman is a clown, and everything he says or writes has an agenda to it.

But he is too intelligent to take that hot seat, get his hands dirty, and may be taken accountable after the S ultimately HTF.

Tue, 09/21/2010 - 16:09 | Link to Comment billwilson
billwilson's picture

Gimme a break. Summers and Geithner obviously have not done a great job, but NO ONE was worse than the Bush team of goofs. 

Tue, 09/21/2010 - 16:32 | Link to Comment NumberNone
NumberNone's picture

Puuullleeese...Geithner barely had time to wipe his mouth after sucking Paulson's cock under the Bush administration before he leaned over and started french kissing Obama.  The Obama team is the same as the Bush team.

http://www.openmarket.org/2008/11/21/geithner-choice-is-more-of-the-same-was-paulsons-bailout-cohort/ 

Tue, 09/21/2010 - 16:58 | Link to Comment Careless Whisper
Careless Whisper's picture

The Obama team is the same as the Bush team.

...and they are the same as the Clinton team.

(r) = (d)           WAKE UP PEOPLE

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

 

Tue, 09/21/2010 - 18:10 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Well said, my man, well said. You have a gift for the language.

Tue, 09/21/2010 - 16:09 | Link to Comment TooBearish
TooBearish's picture

Bet he got a job at Citadel  - CNBS refuses to report story - HA!

Tue, 09/21/2010 - 16:10 | Link to Comment John McCloy
John McCloy's picture

He did his job and kept Wall Street deregulated and got the taxpayers out to Wall Street now it is to return to Rome as a hero while the Blackstones, Goldmans and Morgans shower him with the gold he stole from Americas future.
That is how the game works. Insert new puppet to take heat off Summers.

Tue, 09/21/2010 - 16:19 | Link to Comment Horatio Beanblower
Horatio Beanblower's picture

The guillotine needs to make a comeback.

Tue, 09/21/2010 - 19:07 | Link to Comment doolittlegeorge
doolittlegeorge's picture

i agree.  will we get someone more "professional"?

Tue, 09/21/2010 - 16:10 | Link to Comment Prof Gulliver
Prof Gulliver's picture

Recession over (not for you, but that's not important), Dow up 13 of the last 15 days.
Mission Accomplished!
Larry can now get his payoff from those who he nursed back to wealth ((not you, but that's not important).

Tue, 09/21/2010 - 16:23 | Link to Comment DaveyJones
DaveyJones's picture

now that both the war and recession are over, I can finally start maxing out my credit card to pay my leaders back 

Tue, 09/21/2010 - 17:13 | Link to Comment kathy.chamberli...
kathy.chamberlin@gmail.com's picture

 “is not a surprise, that there will be people who have worked enormously hard over the past few years to make decisions to go back to doing”

he is only 55 yrs old and the last two years he is, dung puckered out. what a wussy pussy.

Tue, 09/21/2010 - 17:51 | Link to Comment Dadburnitpa
Dadburnitpa's picture

He looks like he's just a Philly cheese steak away from a massive coronary.  It's probably best for the fat ass looter to leave town and let Timmay explain everything to the neck stretching team.

Tue, 09/21/2010 - 19:41 | Link to Comment kathy.chamberli...
kathy.chamberlin@gmail.com's picture

Dad burn it pa

rightØ

Wed, 09/22/2010 - 00:21 | Link to Comment RabidYack
RabidYack's picture

Pat's > Geno's

Thu, 09/23/2010 - 04:52 | Link to Comment goldfish1
goldfish1's picture

Partial to Via Venetos...Norristown

Tue, 09/21/2010 - 16:13 | Link to Comment carbonmutant
carbonmutant's picture

Dementia costs hit $604 billion in 2010

LONDON/CHICAGO (Reuters) - The worldwide costs of dementia will reach $604 billion in 2010, more than one percent of global GDP output, and those costs will soar as the number of sufferers triples by 2050, according to a report on Tuesday.

I think they've underestimated the cost of demented government officials...

Tue, 09/21/2010 - 16:30 | Link to Comment NOTW777
NOTW777's picture

coincides with the obama liberalism wave

Tue, 09/21/2010 - 16:13 | Link to Comment Mad Max
Mad Max's picture

What fine old institution can he ruin next?

If I were Summers, I would be changing my name and identity, and moving to a country without an extradition treaty with the US.

Tue, 09/21/2010 - 16:18 | Link to Comment svendthrift
svendthrift's picture

Israel? He can hang out with Pollard:

http://www.politico.com/blogs/laurarozen/0910/Freeze_extension_for_Polla...

They have lots in common.

Tue, 09/21/2010 - 17:19 | Link to Comment Translational Lift
Translational Lift's picture

Yea....But he can't change being a bloated asshole.......

Tue, 09/21/2010 - 18:53 | Link to Comment NotApplicable
NotApplicable's picture

I'll point out that it's served him well this far.

Tue, 09/21/2010 - 20:09 | Link to Comment RockyRacoon
RockyRacoon's picture

Run some of his old interviews in an endless loop.  They make a great soporific.

Tue, 09/21/2010 - 18:46 | Link to Comment Shameful
Shameful's picture

That's my question.  I want to know where he is going next so I can gamble on their future insolvency.  The man is a plague bearer, looks like a Hutt...he must have a charming personality in person.

Tue, 09/21/2010 - 16:16 | Link to Comment Miles Kendig
Miles Kendig's picture

Larry will provide yet another reason why I am happy to have canceled my subscription to the FT while I suspect that we may get the opportunity to see Laura Tyson or the vice of vice herself, Janet Yellen take the reigns.  I have to wonder if Christine Lagarde is available to meet the needs of American business since Nick may well bite the dust.

One thing is certain, Larry is a survivor and his imminent departure provides the strongest signal yet that all is not quite as it seems.

Tue, 09/21/2010 - 16:41 | Link to Comment AccreditedEYE
AccreditedEYE's picture

As the country seems to move more toward the French style of government by the day, Christine may be the best choice. They hate Americans though, and the opportunity to reject our government, thus slapping us in the face, would be too hard for her to resist.

Tue, 09/21/2010 - 16:42 | Link to Comment Miles Kendig
Miles Kendig's picture

Christine is an old pro.  She could handle American business interests (and the MSM) with aplomb.  Too bad citizenship gets in the way as she would be a far more dynamic choice than watch the paint dry Janet.

Tue, 09/21/2010 - 16:16 | Link to Comment NumberNone
NumberNone's picture

Goodbye Larry...you will not be missed.  If only you practiced what you preached...

In this age of electronic money, investors are no longer seduced by a financial 'dance of a thousand veils.' Only hard and accurate information on reserves, current accounts, and monetary and fiscal conditions will keep capital from fleeing precipitously at the first sign of trouble. - Larry Summers

but then again the lug did have a love of kids...

There are children who are working in textile businesses in Asia who would be prostitutes on the streets if they did not have those jobs. -Larry Summers

Tue, 09/21/2010 - 16:19 | Link to Comment midtowng
midtowng's picture

What do you call Summers, Geithner, Dick Cheney, and Fuld buried alive in a grave? A good start.

Tue, 09/21/2010 - 16:21 | Link to Comment Gubbmint Cheese
Gubbmint Cheese's picture

Rumor has it he's going to work for a Chinese Solar company

Tue, 09/21/2010 - 16:22 | Link to Comment svendthrift
svendthrift's picture

Oh Jesus. Are they going to toll-booth the sun now?

Tue, 09/21/2010 - 19:55 | Link to Comment Raging Debate
Raging Debate's picture

No, toll-booth air molecules.

Tue, 09/21/2010 - 21:05 | Link to Comment svendthrift
svendthrift's picture

But air is free. Right?

Tue, 09/21/2010 - 16:23 | Link to Comment Goldenballs
Goldenballs's picture

Just nipping to the Shop love before Economic Disaster hits,another everyday story from the Whitehouse,or how its not safe to hang around when the roofs about to cave in.

Tue, 09/21/2010 - 16:31 | Link to Comment Double down
Double down's picture

Yesssssss!

Tue, 09/21/2010 - 16:34 | Link to Comment WaltzTangoFoxtrot
WaltzTangoFoxtrot's picture

Unfortunately, since he prostituted himself for the politics of being on the inside of 1600 Penn, he has created for himself a huge credibility gap.  

 

Goldamn - they'll take him, but he won't go.  I say he's headed back to academia,  or maybe subbing for CNBCramer who never takes a vacation from being wrong!

 

WTF!

Tue, 09/21/2010 - 16:37 | Link to Comment Village Idiot
Village Idiot's picture

Hey, Larry, come on over to my place for appetizers when you take off.  I'll be serving two kinds of cheese - Headama...dick  and Frumunda...my balls.

Tue, 09/21/2010 - 16:37 | Link to Comment PiratePiggy
PiratePiggy's picture

Pitate's Nomination for the best news on the Last Day of Summer: The Last Day of Summers

 

 

Tue, 09/21/2010 - 16:38 | Link to Comment pauldia
pauldia's picture

Summers replacement most another Clinton era selection. After all Bill and HILL  have the dirt on O and they have a direct line to the real President, George Soros. . Expect Laura Tyson.

Tue, 09/21/2010 - 18:18 | Link to Comment knukles
knukles's picture

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

Fuck me.  Not that.  I mean I was just sitting here, pondering just how bad a choice of replacement that they could make and you have to come up with one of the absolute worst choices possible.  She's an airheaded neo-Marxist collectivist need a village to take a dump imaginary economist from, of all places, the bastion of common sense, Berkley.

Well, her or Paul Krugman.

Aaaarrrrrrrrrraaaaaaaaaggggggggggggggghhhhh

(quivering and weeping softly)

Tue, 09/21/2010 - 16:44 | Link to Comment LadyH
LadyH's picture

Hell, let's fly Hamid Karzai and the boys from the Afghan bank over, they're down with the graft culture and can step right into Larrys shoes

Tue, 09/21/2010 - 16:49 | Link to Comment Astute Investor
Astute Investor's picture

I can't see him on Dancing With The Stars so look for Summers on The Biggest Loser next season.

Tue, 09/21/2010 - 16:53 | Link to Comment Cow
Cow's picture

Shouldn't be hard to get someone to take his place...

Advert:  Amazing opportunity to rearrange deck chairs on the Titanic.  Lots of fresh air involved. Short term benefits. Swimming skills are highly recommended.  Boss is very flexible, as he is on the golf course most of the time.  Previous experience of wrecking a university or country's economy a must. Helps if you think you are always the smartest guy in the room.

Tue, 09/21/2010 - 16:50 | Link to Comment MrTrader
MrTrader's picture

Larry, great job. Move on to your next millions, hum, billions, hum, trillions ! :=)))

Tue, 09/21/2010 - 17:02 | Link to Comment jmc8888
jmc8888's picture

Round of applause for the man who helped his constiuents (and definitely future employer whoever it is) the most: the banksters.....whoops. 

Obama is such a nero dumbass (which still makes him 10x smarter than any republican), he still doesn't understand he's the only Pirate still on his ship, sailing towards the Spanish fleet.

All the people to go down the center/republican/Queen of England/trickle down through bailouts path have deserted him after telling him to sail towards the Armada.

I guess he doesn't know it, because it isn't on his teleprompter.  *which he's even bringing out for closed meetings*

Now to see the d-bags the republicans put in power that are even worse will be quite amusing.  QE2 starts somewhere between after the election and when the new congress is sworn in.  That's when he can print, print, and print, with the bankster whore republicans not voting to take away Ben's unlimited treasury printing press value card.  But then again Nero wouldn't sign it anyways, so we're so fucked we resemble the bitch in a 50 man CREAMPIE gangbang (after the gangbang).

 

Tue, 09/21/2010 - 17:29 | Link to Comment Cow
Cow's picture

It's Bush's fault, right?

Tue, 09/21/2010 - 17:01 | Link to Comment realitybiter
realitybiter's picture

Who is going to replace Cartman?

 

Also, Krispy Kreme is up 25% in the last few weeks.

Just sayin'.

 

I never expected any fiscal or intellectual discipline from someone who has absolutely no will to control his most basic functions.  Fool.  His folly is only exceeded by the minions that worship his unrecorded genius.  Let me record it.  He is a proven failure.

Tue, 09/21/2010 - 17:18 | Link to Comment kathy.chamberli...
kathy.chamberlin@gmail.com's picture

Krispy Kreme. I remember when Krispy Kreme's IPO came out. GD it was like selling legal cocaine. people honestly were driving down to denver, 4 hour trip, to get and stuff their mouth full of kremey cum. 

Tue, 09/21/2010 - 19:12 | Link to Comment doolittlegeorge
doolittlegeorge's picture

i heard they wanted that hole, too.

Tue, 09/21/2010 - 19:53 | Link to Comment Freebird
Freebird's picture

LMAO

Tue, 09/21/2010 - 17:03 | Link to Comment jesse livermoore
jesse livermoore's picture

bye bye  to the brilliant larry summers   dont let the door hit you in the ass on the way out

 

Tue, 09/21/2010 - 17:06 | Link to Comment Goldenballs
Goldenballs's picture

Bye then.

Tue, 09/21/2010 - 17:10 | Link to Comment lizzy36
lizzy36's picture

The big question is who takes over from Jaba the Summers?

President mentioned Zandi by name yesterday?

Big Business CEO?

Krugman (hahaha)

Summers returning to Havard.

Tue, 09/21/2010 - 18:00 | Link to Comment DarkMath
DarkMath's picture

If Zandi takes over then we are well and truly f*cked.

Tue, 09/21/2010 - 18:13 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Zandi is not in Summers' league in terms of the depths of corruption and moral vacuousness required to fulfill the duties of the position.  He's just a lightweight wanna-be.

Tue, 09/21/2010 - 18:54 | Link to Comment Careless Whisper
Careless Whisper's picture

i think u might be underestimating his credentials. he works at moody's and they seem quite corrupt. plus, he said the 800 bazillion stimulus was toooo small. and, best of all, he gives paid advice to both dems and repubs, so he's a total whore.

Tue, 09/21/2010 - 19:57 | Link to Comment Freebird
Freebird's picture

Mugabe. He's your man and he has the experience & the results...

Tue, 09/21/2010 - 17:31 | Link to Comment papaswamp
papaswamp's picture

Guess the Fed sent a different assessment to the WH.

Tue, 09/21/2010 - 17:50 | Link to Comment lynnybee
lynnybee's picture

of course he's returning to HARVARD.   of course.   could anyone tell me why HARVARD wants him back ?    I'd love to know & understand.    It's widely known that he ruined their finances, why is this person even around anymore ?   Shouldn't he be in jail with Robert Rubin ?     ..... sick to death of these people .....   

Tue, 09/21/2010 - 19:14 | Link to Comment doolittlegeorge
doolittlegeorge's picture

"i think women are biologically inferior."  "Welcome back to Harvard...with honors."

Tue, 09/21/2010 - 19:16 | Link to Comment Reductio ad Absurdum
Reductio ad Absurdum's picture

His willingness to admit publicly that, yes, men and women ARE in fact different is the only useful thing this guy has eever done.

Tue, 09/21/2010 - 19:44 | Link to Comment kathy.chamberli...
kathy.chamberlin@gmail.com's picture

Aristotle said almost the same thing. + cold.

Tue, 09/21/2010 - 19:17 | Link to Comment Pez
Pez's picture

Harvard? Maybe they'll let him be a security cop . Give him a baton, or taser, god forbid a gun. I thought the WH position was a ruse to get rid of him.

Tue, 09/21/2010 - 18:11 | Link to Comment gs_runsthiscountry
gs_runsthiscountry's picture

CEO eh? Bill Gross name was just floated...lol. Someone sympathetic to Obama administration? Well then, Jeff Immelt wouldn’t be a shocking selection.

Tue, 09/21/2010 - 18:17 | Link to Comment belogical
belogical's picture

Let me see, my next career move, I think I will be a weatherman or an economic advisor to the president. Either way I can guess and I'll have a 50% chance of being right.

Tue, 09/21/2010 - 19:02 | Link to Comment NotApplicable
NotApplicable's picture

I'm surprised to see so many people express concern over who replaces Larry. Quite simply, the choice is moot.

The only difference between any of these puppets is their bag of political lies.

Which puppet does the puppet named Obama pick? Why whichever lies are selling the best that day, determined by the puppet masters.

It matters not who is picked, as you are screwed no matter what.

Tue, 09/21/2010 - 20:19 | Link to Comment RockyRacoon
RockyRacoon's picture

True.   It will just be another Keynesian.  Just a matter of degree.  All except the "save a little in the good times" part. 

Tue, 09/21/2010 - 19:16 | Link to Comment doolittlegeorge
doolittlegeorge's picture

it could be true that Larry Summers never really mattered.  I don't disagree with that.  I do take with "and then there was one" however.  I believe BEN Bernanke is very much "on board."  Just ask Pinnochio who claims to be the expert on boards.

Tue, 09/21/2010 - 21:07 | Link to Comment Jason Bourne
Jason Bourne's picture

Fucking prick Summers.  Why was he allowed to resign - that fucker should HAVE to stay on so he can be there when the shit he and his "father" the prick Rubin results in our country financially imploding.

As to his replacement - lets see - who needs to sell out his holdings and not pay any capital gains tax.  Which Wall Street PRICK is looking to sell out.  Look for the replacement from there.

 

 

Tue, 09/21/2010 - 21:38 | Link to Comment Mad Max
Mad Max's picture

THIS JUST IN:

Larry Summers has been hired by NOW as their chief financial officer.  A NOW spokeswoman made a simple statement as follows:

"Yes, we hired Larry Summers as our new CFO.  All those things he said while at Harvard - he was right.  We couldn't do half the job he could.  His financial credentials are impeccable and we anticipate he will straighten out our finances quickly."

Tue, 09/21/2010 - 22:13 | Link to Comment tip e. canoe
tip e. canoe's picture

F U C K T H E M A L L

seriously

Tue, 09/21/2010 - 22:27 | Link to Comment Jim B
Jim B's picture

The economy is now right for the TBTFs.  Good job Larry!

Tue, 09/21/2010 - 22:50 | Link to Comment williambanzai7
williambanzai7's picture

" officials are weighing whether to put a prominent corporate executive in the NEC director’s job to counter criticism that the administration is anti-business "

Charlie Munger!!!!!   Thats the ticket

A douche for a douche

Tue, 09/21/2010 - 22:59 | Link to Comment Quantum Noise
Quantum Noise's picture

Does this qualify for the nuclear option when "Fat Boy" is leaving?

Wed, 09/22/2010 - 00:05 | Link to Comment palmereldritch
palmereldritch's picture

Rumor has it, that in fact he's actually going home to work for his Dad

http://www.msnbc.msn.com/id/39280544/ns/world_news-asiapacific

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