Larry Summers has decided to rush into the fray to defend his “colleagues and friends” Carmen Reinhart and Ken Rogoff. Unfortunately, the only way for Summers to defend his friends is by trying to rewrite history. Summer tried to pretend the problem was simply a matter of making some errors. From Summers: First, this experience [...]

Just when I think there aren’t enough reasons to disdain Larry Summers he goes out his way to create new ones. Last week Summers said it was a good thing America didn’t adopt a universal health care system in the 70′s. When Ezra Klein challenged him to defend this statement Summer could only provide confusing [...]

In an op-ed about gridlock former Obama adviser Larry Summers actually said it was a good thing the United States didn’t adopt a universal single-payer health care system decades ago. From Summers’s op-ed: There were probably too few checks and balances as the United States entered the Vietnam and Iraq wars. There should have been [...]

This is a powerful statistic from Forbes. The Top 0.1 percent of the country captured about half of the capital gains, which are currently taxed at just 15 percent, making this a prime mechanism for increasing income inequality.  From Forbes: Capital gains are the key ingredient of income disparity in the US– and the force behind the winner [...]

So where was all this “fiscally responsible” fighting spirit when it came to paying out $32.6 billion in taxpayer funded banker bonuses?

Well, as Larry Summers said, “we are a country of law.”

Today, in a pathetic attempt at fear mongering to get Congressional Democrats to vote for a massive transfer of wealth to the rich, Larry Summers, Barack Obama’s outgoing National Economic Council chief, told reporters that failure to pass the Obama-McConnell extension of the Bush tax cuts could leed to total DOOM! a double-dip recession. From [...]

The most disturbing moment of Jon Stewart’s interview with President Obama was when Obama claimed the soon-to-exit director of the National Economic Council, Larry Summers, had done a “Heckuva Job.” It was a statement both profoundly wrong and politically stupid. On so many levels, it was an awful thing to say just days before the [...]

House Minority Leader John Boehner (R-OH) has recently called on President Obama to fire Treasury Secretary Tim Geithner and Director of the National Economic Council Larry Summers. Now I don’t know how Boehner’s mother raised him, but where I come from, that behavior would be considered downright rude. Where is the gratitude? I think John [...]

The White House obsession with criticizing the “professional left” comes from one harsh truth: that the left has been right on major issues from health care to the stimulus.

Yesterday Larry Summers weighed in on the financial regulation bill before the Senate: “If you vote for cloture right now and don’t add any more amendments, we will have solved the issues that led to crisis. Had this been law, as is, in 2007, we would not have had the crisis.” Bill Clinton recently blamed [...]