Larry Summers

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Obama's Auto Team Drives Foreign Cars

Just 2 of task force's 8 members own domestic models

(Newser) - Detroit’s Big Three might be in worse trouble than they thought: Of the eight people on the Presidential Task Force on the Auto Industry, and the 10 policy aides assisting them, just two own cars built by American-owned manufacturers, the Detroit News reports. The co-chairs—Timothy Geithner and Lawrence...

Obama Should Draft Krugman
 Obama Should Draft Krugman 
OPINION
Feb 19, 2009 3:11 PM CST

Obama Should Draft Krugman

NYT columnist would do a lot better than Geithner and Summers

(Newser) - Barack Obama’s economic team so far has failed to inspire confidence, writes Steven Stark for the Boston Phoenix. Instead of Geithner and Summer, Obama should pick a new man to lead the charge on the financial crisis: Appoint Paul Krugram, Nobel laureate and economics columnist for the New York ...

Transport Sec to Fellow GOPers: C'mon, Ride the Stimulus Train

But McCain wonders where bipartisanship is

(Newser) - Talk of the economic stimulus package dominated the morning shows today, with Transportation Secretary Ray LaHood, a Republican, promising on State of the Union that the stimulus bill won't come with any earmarks or "boondoggles," the Chicago Tribune reports. LaHood said that he had tried to get his...

Obama Names Economic Panel, Volcker to Lead

Drawing on industry and academia, Obama hopes to avoid Beltway vacuum

(Newser) - The White House today named a team of economic advisers, led by former Fed chairman Paul Volcker, to help shape the economic recovery with voices from outside the Beltway, the Washington Post reports. With an initial term of 2 years, the White House Economic Recovery Advisory Board will add to...

Democrats: Please Listen to Larry Summers
Democrats: Please Listen to Larry Summers
OPINION
Jan 30, 2009 1:27 PM CST

Democrats: Please Listen to Larry Summers

Party has ditched his wise stimulus ideas of summer

(Newser) - Throughout 2008 Larry Summers was proposing the right kind of stimulus—fast, targeted, and temporary. “Poorly provided fiscal stimulus can have worse side effects than the disease,” he warned. Now Summers is a top Obama adviser, but Democrats are ignoring his every proviso. The stimulus is a “...

Wary of Image, Financial A-Listers Ditch Glitzy Davos

Top bankers, Obama advisers to skip Swiss summit

(Newser) - The swanky Davos economic summit was once a top destination for financial and economic power players, but many are skipping the glitz this year for fear of sending the wrong message in a tanking economic climate, Reuters reports. Treasury secretary-designate Timothy Geithner is sitting out the resort event, as are...

Calm Down! 7 Reasons to Be Skeptical

 Calm Down! 
 7 Reasons to 
 Be Skeptical 
OPINION
Jan 21, 2009 10:21 AM CST

Calm Down! 7 Reasons to Be Skeptical

Yep; here are some reasons for concern and skepticism about Obama

(Newser) - Yesterday’s inauguration was such a feel-good fest, and our problems are so dire, that everybody is on board with President Obama. Leave it to Politico’s Jim VandeHei and John F. Harris, then, to give us some reasons for skepticism:
  • The genius fallacy: The best and brightest screw up,
...

Obama Gives Lawmakers on Both Sides More Say

New prez wooing votes for economic plans

(Newser) - So far, Barack Obama’s line about disagreeing without being disagreeable isn’t just lip service. The Wall Street Journal reports that the president-elect and his team have been talking in good faith with members of Congress—including Republicans—about economic policy. Says one senator whom they unsuccessfully lobbied to...

Dems Don't Like Obama Tax Cuts
Dems Don't Like Obama Tax Cuts
Jan 9, 2009 5:35 AM CST

Dems Don't Like Obama Tax Cuts

Hill leaders doubt plan's stimulus power, say prez-elect trying too hard to woo GOP

(Newser) - Barack Obama's proposed tax cuts are opening a rift with his former congressional colleagues, the Hill reports. Democratic lawmakers are skeptical as to whether the cuts—which are 40% of the proposed stimulus package—will give the economy the necessary boost. Some think the president-elect is trying too hard to...

Obama Widens Goals, Now Wants 3M Jobs

Recovery plans grow as advisers predict 9% unemployment

(Newser) - Barack Obama is expanding his plans to reverse the nation’s financial crisis and will seek to create 3 million jobs in the next two years, up from the goal of 2.5 million he proposed last month, the New York Times reports. The new figure follows a meeting in...

Obama Should Beware 'Best and Brightest'
Obama Should Beware 'Best and Brightest'
OPINION
Dec 7, 2008 1:18 PM CST

Obama Should Beware 'Best and Brightest'

A la JFK's Cabinet, too often masks poor judgment, inexperience

(Newser) - Barack Obama has won praise for appointing “the best and the brightest” to his Cabinet during a time of war and economic hardship. But all the back-patting sounds a little too familiar, Frank Rich writes in the New York Times. “The stewards of the Vietnam fiasco had pedigrees...

Rove: Obama Has Picked a First-Rate Economic Team

Solid picks win rare praise from former Bush deputy

(Newser) - Karl Rove was pleasantly surprised by Barack Obama's choice of an economic team, the Republican analyst writes in the Wall Street Journal, singling out Tim Geithner and Larry Summers as solid picks. Geithner has played a key role in the current administration's handling of the financial crisis and will provide...

Larry Summers: Team Obama's 'Truth Teller'
Larry Summers: Team Obama's 'Truth Teller'
ANALYSIS
Nov 26, 2008 7:47 AM CST

Larry Summers: Team Obama's 'Truth Teller'

Clinton vet will have uncommon clout in new cabinet

(Newser) - After Timothy Geithner won his old job of treasury secretary, Larry Summers' return to government as director of the National Economic Council might seem like a consolation prize. On the contrary, writes David Leonhardt in the New York Times, Summers will have a prime role in the new administration: ...

Obama on Economy: My Job Starts Now

Few surprises as president-elect introduces team

(Newser) - When it comes to the economy, Barack Obama says his work begins “right now.” Obama introduced his economic team today; as expected, he designated Timothy Geithner as treasury secretary and Lawrence Summers as director of the National Economic Council. The president-elect said they would begin work immediately on...

Berkeley Prof to Head Council of Economic Advisers

Christina Romer is expert on recessions

(Newser) - Barack Obama has chosen Christina Romer, a Berkeley economics professor, to lead the Council of Economic Advisers, ABC News reports. The council analyzes economic developments and recommends policy for the president. Obama will announce Romer’s appointment, along with the rest of his economic team, today.

Obama Fiscal Team Reunites Rubin Protégés

But even ex-Treasury boss losing Clinton-era free-market policies

(Newser) - Barack Obama’s incoming administration is stocked with acolytes of Bill Clinton-era Treasury Secretary Robert Rubin, reports the New York Times. But even Rubin and his protégés are no longer quite as enamored as they once were of so-called Rubinomics—deregulation, balanced budgets, and free trade. Facing economic...

Bernanke's Job Security Hardly Assured

Fed chief's term is up in 2010, and with Summers in play, another is no certainty

(Newser) - Economists give Federal Reserve Chairman Ben Bernanke a passing grade for his efforts to fight the nation’s financial crisis, but that doesn’t guarantee he’ll keep his job when his appointment expires in 2010, reports the Wall Street Journal. President-elect Barack Obama may have a Fed-chief-in-waiting in Lawrence...

Summers Gets Key Financial Post

(Newser) - He didn't get the Treasury position, but Larry Summers will still play a major role in guiding Barack Obama's economic policy. Obama has picked the former Treasury chief to lead the National Economic Council, a post that will make him the president's closest fiscal adviser, the Wall Street Journal reports....

NY Fed Prez Lands Top Job at Treasury

Speculation about Commerce gig surrounds Richardson

(Newser) - The Obama transition team has settled on a treasury secretary nominee, NBC reports: Timothy Geithner, the president of the New York Fed. The announcement is expected to come Monday, when the president-elect will announce his entire economic team in an attempt to quell the unrest surrounding the financial markets....

Obama Stacking His Cabinet With Pit Bulls
Obama Stacking His Cabinet
With Pit Bulls
ANALYSIS
Nov 18, 2008 6:22 AM CST

Obama Stacking His Cabinet With Pit Bulls

Cool-hand Barack wants heavy-hitters, isn't afraid of a fight

(Newser) - For a man who earned himself the nickname "No-Drama Obama" during the campaign, the president-elect seems to be assembling a surprisingly high-maintenance cabinet, writes Helene Cooper in the New York Times. From Larry Summers to Rahm Emanuel to Hillary Clinton, the partners that Obama has chosen or considered have...

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