Edge of Chaos is a political podcast starring Joe Ryan and Neurotoxin. Its aim is to have a free-flowing discussion of news and current events that also examines the empirical outcomes of public policy, avoiding biases based on ideology and policy intentions. Listener discretion is both advised and encouraged.

Monday, September 16, 2013

Summers Loses, America Wins

Few Americans understand the significance of Larry Summers bowing out of the Federal Reserve Chairman candidacy; but it's as big a victory for transparency and accountability as Obama backing off on striking Syria. As Treasury Secretary, this bank-serving sociopath spearheaded Clinton's repeal of parts of Glass-Steagall - the single most important contributor to the bank crash of 2007. Glass-Steagall wasn't much more than a band-aid on the economic hemorrhage that is the Federal Reserve - but nevertheless the guy who removed said band-aid and let the banks bleed this country dry makes a disastrous choice for Fed Chairman. Summers has a "close personal relationship" w/ Obama (for all the idiots who automatically assume Wall St is aligned w/ Republicans) and acknowledged he removed his candidacy because he foresaw a fight over his confirmation. Good riddance, Dr. Summers. You belong in prison, but having you away from the Federal Reserve is a good start.


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