Obama's expected nomination of Summers was a perfect example of that critical flaw. Repeated appointments of inadequate individuals with questionable résumés -- whether out of loyalty or cronyism -- leaves the government vulnerable to recurrent failure.
Elizabeth Warren On Larry Summers And The Fed Chairman
It is clear -- three years after the bill's passage -- the agencies are still far from compliance on at least one aspect of the bill. Dodd-Frank mandates that agencies create workplaces with a more reasonable gender balance.
"I think it would be very problematic," said the former high-level official. "He's smart on many topics; I don't think monetary
"The president would have to use more of his political capital to get those votes," said Phillip Swagel, an economic adviser
A Fed Chair who made it her mission to restore effective supervision would not choose "boring," "dull," or "bureaucratic" people. She would be putting a giant bull's-eye on her back and would ensure that she never have another boring day.
The next Fed chair will have an opportunity to get our economy back on track and to help rebuild America's middle class. But that will require the right temperament and a willingness to take on Wall Street CEOs when necessary.
Summers served as director of the president's National Economic Council during the first two years of the Obama administration
Summers' emergence as a potential nominee has drawn some backlash, prompting Obama to give a "full-throated" defense of Summers
The public airing of the Summers-versus-Yellen debate has made the selection more controversial. Summers, who served as President