MacroScope
Shining a light on the dismal science
How to silence Larry Summers
White House economic adviser Lawrence Summers is rarely at a loss for words, which makes Tuesday’s question-and-answer session at the National Press Club in Washington downright astonishing.
Summers, whose term as president of Harvard University ended rather abruptly after he made some unfortunate remarks about women and math and science aptitude, knew he was on very thin ice when he was asked a question about gender differences in retirement savings.
As soon as the question was asked, laughter spread around the room. Summers himself paused for a good 20 seconds before cracking a joke about how the question must have frightened his staff.
“Now you have just put their health at risk,” he said. “I think I will move to the next question.”
UPDATE:
See the full clip below:
It’s worth watching!
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Under Bill Clinton Larry Summers worked to strip out Glass-Steagall and other regulations that kept the US financial system from imploding.
After he left, Harvard lent Summers a cool $1 million at a low interest rate. (didn’t know the University was a bank).
Every time Americans watch Summers put on his fireman’s uniform and advise how to put out the economic blaze, they should remember that he helped light the fire. And American taxpayers are getting hosed.
There’s quite a difference between the “quote” that Emily records and the actual statement made by Summers on the recorded video.
Lawrence H. Summers (former Treasury Secretary Clinton Repael glass steal act, World Bank Professor Harverd)
Was forced out of the Harvard presidency for formulating a personality cult, displaying supreme arrogance, being dismissive of most everyone and being biased against women.
As Clinton’s Treasury Secretary he rejected warnings from Brooksley Born at that time head of the CFTC regarding the regulation of derivatives.
Summers called her up and scrammed at Ms. Born, who resigned as a result and who has since proved to be correct, and Summers wrong. Summers is one nasty piece of work!
Summers is calling for more economic stimulus packages – essentially give a-ways – that won’t work. They are stalling measures.
(Quote: Bob Chapman)
What happened to the video?