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Larry Summers Said To Leave White House In Two Months
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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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?
Don't let the door hit you in the vagina on the way out :)
laugh of the day! thanks.
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
Summers was the one executing Rubin's "strong Dollar" gold dumping scheme.
"Larry Summers is to modesty what Madonna is to Chastity."
--Paul Gigot, 1995
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!
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.
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.
Larry leaving?!?...LOL.
Rats...listing ships...etc.
Somewhere in America a university president's pucker factor just redlined.
If this is the "Top-Tier", heaven save us from the replacements!
Friends help you move.
Real friends help you move Larry Summers body out of the White House. :>)
Joking folks, just joking.
Speaking of House's...
It gives more credence to the mortgage Refi rumor coming down the pipe with larry out of the way.
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.....
that's interesting.
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.
Argentina wouldn't allow scum like him in.
He'll wind up in Paraguay or Nigeria.
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
assemble the hit team...
he should not be allowed to walk the streets...
not kidding....
You say that as if he's even capable of walking in the first place. I doubt it.
Throw in some chewing gum and it's a no-go.
you do realize you're IP adress has been traced and as we speak a white van is parking before your driveway do you?
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?
Hey now he may have a waffle iron if he's in belgium.
u do realize that i dont give a fuck...
this is class warfare...when fear exits one becomes free...
fuck a banker....
i am Kaiserin
My frightened little euro-peon friend...we're all uncouth rednecks now ;-)
Nah, he was pushed out the door, the PTB having learned from the Vince Foster resignation.
time for cnbc to have a panel discussion with all the rocket scientists from the WH
More rats jumping ship.
+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.
I think he wants to go start spending some of the cash he funneled to himself before it isn't worth anything.
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?
Well, Dubya Bush has a nice new ranch in Paraguay, and I don't think it was free.
Is that a different $8Billion from the batch missing in Afghanistan?
i'll take the other side of that trade.
Good riddance... then again maybe it's mission complete for him so it's time to cash in!
funny thing is, you may be right
The rats fleeing the sinking ship. Maybe Mr. Banzai7 can update his dooshbag survivor pic?
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..
"according to three people familiar with the matter."
1 silver maple says it's a ruse to soften the libs.
someone should have taken the other side. unlike Larry, i would have paid up.
First he blew up Harvard, then the USA. Who will he work for next, Ming the Merciless?
Actually you're close. I'm hoping he goes to work for the Chinese and shows them how to bust a bubble American style.
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.
That explains why he looks like a chubby, bloated Palpatine...
With vaginal throat folds.
I wonder which bank hired him.
BIS or Carlyle Group will no doubt be pitching.
If all else fails Soc-Gen are always on the look out for Phd's ;>
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
Will a carpet shampoo get the stench of failure out of his office?
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.
I hear he chewed the carpet
Yeah, and that concentrated Larry urine never really fully comes out.
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...."
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.
You've reduced the argument to the absurd.
Oh, wait....
finally. thank god.
now, maybe we can begin healing.
As he dove out the window with some silverware and a Copley replica.
See Ya Larry !!! He wants to spend time with his new bride........in Paraguay.
Timmy is the last.
"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.
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
He's leaving while he's at the top of his game.
Who got left holding the bag? Timmaaaay!
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.
After prostituting himself to the current administration he's now being dumped back on the streets.
One hopes the poor fool was paid first.
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
My guess is Obama appoints Charlie Munger
My guess: Paul Krugman
(God help us)
Oh my. Krugman.. We'll get a trade war, hyper inflation, national bankruptcy and a really rockin' Upper West Side.
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
Stiglitz = Gold $Infinity2
ciao BELLA
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.
Gimme a break. Summers and Geithner obviously have not done a great job, but NO ONE was worse than the Bush team of goofs.
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/
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
Well said, my man, well said. You have a gift for the language.
Bet he got a job at Citadel - CNBS refuses to report story - HA!
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.
The guillotine needs to make a comeback.
i agree. will we get someone more "professional"?
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).
now that both the war and recession are over, I can finally start maxing out my credit card to pay my leaders back
“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.
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.
Dad burn it pa
rightØ
Pat's > Geno's
Partial to Via Venetos...Norristown
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...
coincides with the obama liberalism wave
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.
Israel? He can hang out with Pollard:
http://www.politico.com/blogs/laurarozen/0910/Freeze_extension_for_Polla...
They have lots in common.
Yea....But he can't change being a bloated asshole.......
I'll point out that it's served him well this far.
Run some of his old interviews in an endless loop. They make a great soporific.
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.
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.
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.
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.
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
What do you call Summers, Geithner, Dick Cheney, and Fuld buried alive in a grave? A good start.
Rumor has it he's going to work for a Chinese Solar company
Oh Jesus. Are they going to toll-booth the sun now?
No, toll-booth air molecules.
But air is free. Right?
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.
OUT OF THE RING
http://williambanzai7.blogspot.com/2010/09/out-of-ring.html
Yesssssss!
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!
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.
Pitate's Nomination for the best news on the Last Day of Summer: The Last Day of Summers
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.
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)
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
I can't see him on Dancing With The Stars so look for Summers on The Biggest Loser next season.
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.
Larry, great job. Move on to your next millions, hum, billions, hum, trillions ! :=)))
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).
It's Bush's fault, right?
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.
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.
i heard they wanted that hole, too.
LMAO
bye bye to the brilliant larry summers dont let the door hit you in the ass on the way out
Bye then.
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.
If Zandi takes over then we are well and truly f*cked.
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.
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.
Mugabe. He's your man and he has the experience & the results...
Guess the Fed sent a different assessment to the WH.
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 .....
"i think women are biologically inferior." "Welcome back to Harvard...with honors."
His willingness to admit publicly that, yes, men and women ARE in fact different is the only useful thing this guy has eever done.
Aristotle said almost the same thing. + cold.
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.
CEO eh? Bill Gross name was just floated...lol. Someone sympathetic to Obama administration? Well then, Jeff Immelt wouldn’t be a shocking selection.
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.
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.
True. It will just be another Keynesian. Just a matter of degree. All except the "save a little in the good times" part.
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.
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.
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."
F U C K T H E M A L L
seriously
The economy is now right for the TBTFs. Good job Larry!
" 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
Does this qualify for the nuclear option when "Fat Boy" is leaving?
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