Friday, August 16, 2013

Alton Drew - With a Larry Summers pick, will Obama once again show that Danny Glover was right?

Maureen Dowd wants to know if President Obama will continue the good ole boy club by selecting Larry Summers to replace Ben S. Bernanke as head of the Federal Reserve. That’s one question she posed yesterday in a The New York Times opinion piece on who Mr. Obama may select as Federal Reserve chair.

Mr. Obama could go the good ole boy route by selecting a fellow member of the Ivy League club and a man he has worked with. As Robert Reich pointed out in another piece for the Times, the Federal Reserve is currently the de facto manager of the U.S. economy, given the abdication by Congress of the authority to properly manage it.

And while Ms. Dowd raises some valid points about the difference in style between Mr. Summers and the other leading contender, current Fed vice-chair Janet Yellen, I think waht’s more important is the choice of someone that invites the question as to how representative our government is?

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