{"id":186856,"date":"2013-09-15T20:35:00","date_gmt":"2013-09-16T01:35:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/09\/15\/things-that-make-you-shout-out-in-glee\/"},"modified":"2013-09-15T20:35:00","modified_gmt":"2013-09-16T01:35:00","slug":"things-that-make-you-shout-out-in-glee","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2013\/09\/15\/things-that-make-you-shout-out-in-glee\/","title":{"rendered":"Things that Make You Shout out in Glee"},"content":{"rendered":"<p>Larry Summers is <a href=\"http:\/\/www.nytimes.com\/2013\/09\/16\/business\/economy\/summers-pulls-name-from-consideration-for-fed-chief.html\">not going to be Chairman of the Federal Reserve<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">Lawrence H. Summers, one of President Obama\u2019s closest economic confidants and a former Treasury secretary, has withdrawn his name from consideration for the position of chairman of the Federal Reserve amid rising opposition from Mr. Obama\u2019s own Democratic allies on Capitol Hill.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">In a statement released by the White House on Sunday afternoon, Mr. Obama said he had accepted the decision by his friend even as he praised him for helping to rescue the country from economic disaster early in the president\u2019s term.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">\u201cLarry was a critical member of my team as we faced down the worst economic crisis since the Great Depression, and it was in no small part because of his expertise, wisdom and leadership that we wrestled the economy back to growth and made the kind of progress we are seeing today,\u201d Mr. Obama said in the statement.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">He added: \u201cI will always be grateful to Larry for his tireless work and service on behalf of his country, and I look forward to continuing to seek his guidance and counsel in the future.\u201d<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Mr. Summers appeared to have been the White House\u2019s favored candidate to succeed Ben S. Bernanke as chairman of the Fed, though Mr. Obama had repeatedly said he had not yet made a decision between Mr. Summers, Janet L. Yellen, who is a vice chairwoman of the Fed, or someone else.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">But Mr. Summers\u2019s reputation for being brusque, his comments about women\u2019s natural aptitude in mathematics and science, and his decisions on financial regulatory matters in the Clinton and Obama administrations had made him a controversial choice.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Three Senate Democrats on the Banking Committee had come out against Mr. Summers\u2019s nomination, meaning that the White House might have had to barter for as many as three Republican votes for him even to pass out of committee. <\/span><\/p><\/blockquote>\n<p>It ain&#8217;t 3, it&#8217;s 4, Elizabeth Warren, Sherrod Brown, Jeff Merkley, and Jon Tester, <a href=\"http:\/\/www.businessinsider.com\/larry-summers-fed-chair-nomination-elizabeth-warren-jon-tester-2013-9\">who announced his opposition on Friday<\/a>.<\/p>\n<p>Summers withdrew his name because he cannot be confirmed.<\/p>\n<p>Let&#8217;s be clear here:&nbsp; the American People won.<\/p>\n<p>Obama <b>desperately<\/b> wanted<b> <\/b>to nominate Summers, despite the crescendo of opposition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Larry Summers is not going to be Chairman of the Federal Reserve: Lawrence H. Summers, one of President Obama\u2019s closest economic confidants and a former Treasury secretary, has withdrawn his name from consideration for the position of chairman of the Federal Reserve amid rising opposition from Mr. Obama\u2019s own Democratic allies on Capitol Hill.In a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,978,985,1019,1173],"tags":[],"class_list":["post-186856","post","type-post","status-publish","format-standard","hentry","category-finance","category-politics","category-regulation","category-schadenfreude","category-white-house"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186856"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=186856"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/186856\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=186856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=186856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=186856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}