From Greg Palast’s investigative reports for Greek and US news ...more
Joseph Stiglitz couldn’t believe his ears. Here they were in the White House, with President Bill Clinton asking the chiefs of the US Treasury for guidance on the life and death of America’s economy, when the Deputy Secretary of the Treasury Larry Summers turns to his boss, Secretary Robert Rubin, and says, “What would Goldman think of that?”
Then, at another meeting, Summers said it again: What would Goldman think?A shocked Stiglitz, then Chairman of the President’s Council of Economic Advisors, told me he’d turned to Summers, and asked if Summers thought it appropriate to decide US economic policy based on “what Goldman thought.” As opposed to say, the facts, or say, the needs of the American public, you know, all that stuff that we heard in Cabinet meetings on The West Wing.
Summers looked at Stiglitz like Stiglitz was some kind of naive fool who’d read too many civics books.
R.I.P. Larry Summers
On Sunday afternoon, facing a revolt …more
For Vice Magazine
When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn’t believe it.
The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t …more
Republicans are right. President Barack Obama treated them like dirt, didn’t give a damn what they thought about his stimulus package, loaded it with a bunch of programs that will last for years and will never leave the budget, is giving away money disguised as “tax refunds,” and is sneaking in huge changes in policy, from schools to health care, using the pretext of an economic emergency.
Way to go, Mr. O! Mr. Down-and-Dirty Chicago pol. Street-fightin’ man. Covering over his break-you-face power play with a “we’re all post-partisan friends” BS.
And it’s about time.
Frankly, I was worried about this guy. Obama’s appointing Clinton-droids to the Cabinet, bloated incompetents like Larry Summers as “Economics Czar,” made me fear for my country, that we’d gotten another Democrat who wished he were a Republican.
Then came Obama’s money bomb. The House bill included $125 billion for schools (TRIPLING federal spending on education – yes!), expanding insurance coverage to the unemployed, making the most progressive change in the tax code in four decades by creating a $500 credit against social security payroll deductions, and so on. …more
The Globalizer Who Came In
From the Cold
Today’s Winner of the Nobel Prize in Economics
Greg Palast at the IMF Ministerial in Washington ...more