Comments on: Replacing Summers http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Anonymous http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-47879 Thu, 22 Aug 2013 08:29:43 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-47879 “Good article Guys, Thanks. By the way I found this awesome site for Financial Data and Analysis : http://thinknum.blogspot.com/ You can Search over 7,000,000 datasets. It has a financial data analysis engine which brings the functionality traditionally found on wall street proprietary trading desks to an open platform. You can visualize, save and share data. This tool is similar to PlotTool at Goldman Sachs or DataQuery at JP Morgan. Check it out, You may like it!”

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By: dyllman http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18715 Thu, 23 Sep 2010 09:44:48 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18715 Is Summers going of his own accord, or is Obama desperate to look like he is doing something that will count?

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By: BeeSquared http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18694 Wed, 22 Sep 2010 16:39:09 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18694 Roger W. Ferguson, Jr., the CEO of TIAA-CREF, is both a CEO and an economist (as well as a former Fed vice chairman and current member of the President’s Economic Advisory Board)

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By: Bill51 http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18690 Wed, 22 Sep 2010 15:14:52 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18690 Why should head of the NEC be an economist? It’s a coordination job — marshaling the agencies to formulate and execute policy. Clinton created it in the image of the NSC. Robert Rubin, the first to hold the job, was successful. Friedman was good.

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By: ayaga http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18688 Wed, 22 Sep 2010 14:57:48 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18688 “The corporate-executive idea is a bit weird: of all the positions in the White House economic team, one would expect the NEC director to actually be an economist.”

NEC has traditionally been a non-economist. Here is Greg Mankiw back in 2008:

http://gregmankiw.blogspot.com/2008/11/s ummers-to-nec.html

Saturday, November 22, 2008
Summers to the NEC
Larry Summers is going to be director of the National Economic Council.

I wonder: What role will the Council of Economic Advisers have in the new Obama administration? And how will the CEA and NEC get along?

When I worked for President Bush as CEA chair, the NEC and CEA had distinct and complementary roles. The CEA was staffed by professional economists, many from academia, whose expertise was economic analysis. By contrast, the NEC was staffed by those with experience on Wall Street and Capitol Hill. The NEC’s main role was to coordinate the policy process, to act as an honest broker, to make sure that all points of view were heard, and to facilitate discussion among the relevant departments so all felt they had a fair shot to make their case. Steve Friedman, formerly of Goldman Sachs, ran with NEC with impressive intelligence, humility, and diplomacy.

But the situation will likely be very different with Larry as head of the NEC, and perhaps Jason Furman as his deputy. Their skill set will overlap substantially with the three members of the CEA. In other words, the NEC and CEA will be more like substitutes than complements.

Only time will tell how well this alternative organizational structure will work.

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By: Gen http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18685 Wed, 22 Sep 2010 12:50:49 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18685 No mention of Mr Summers efforts to guide President Clinton towards signing the banking reform measures that set the stage for this current crises…. It is amazing how intellectuals are never held accountable for their mistakes…they just go back to accademia and write papers to justify their efforts and spin their mistakes.

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By: bidrec http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18684 Wed, 22 Sep 2010 12:06:31 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18684 I don’t know about economists as CEOs now but William J. Catacosinos formerly of Long Island Lighting and Paul O’Neill of Alcoa were both economists.

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By: RS123456 http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18683 Wed, 22 Sep 2010 09:28:58 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18683 Dr Mohamed El-Erian – Economist by training, public service experience at the IMF and corporate experience at PIMCO. The signal to the bond market would be immense. He would also be a great Treasury Secretary.

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By: Dollared http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18682 Wed, 22 Sep 2010 06:49:47 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18682 Gad, the entertainment value of naming Krugman would raise the GDP all by itself. Think of Ben Stein’s apoplexy – it cheers me just to imagine it.

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By: norge10 http://blogs.reuters.com/felix-salmon/2010/09/21/replacing-summers/comment-page-1/#comment-18680 Wed, 22 Sep 2010 05:09:46 +0000 http://blogs.reuters.com/felix-salmon/?p=5449#comment-18680 You could always be provocative and give it to Krugman …

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