I had a few brief words about Larry Summers yesterday on NBC Nightly News:

For those of you who are unfamiliar with how national news programs are edited together, you sit in a studio and answer questions for about 20 minutes. Long sentences, paragraphs, nuance, subtlety, etc. Out of that entire process, two 15 second snippets get used.

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Via NBC Nightly News with Brian Williams

Category: Bailouts, Media, Politics

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “Critics Question Larry Summers’ Payday”

  1. W T F says:

    Barry you said “the problem is that you become captured by the Wall Street perspective, by the banks interest, and you lose the ability to give objective advice to the President.”

    Do you have any proof that this has happened to Mr. Summers?

    [BR: Yes, I have specific engram evidence from Mr. Summer’s brain samples; It has unquestioningly been proven scientifically via biological testing that he has been affected in this manner.]

    Or did you mean to say that the possibility exists that this could occur? Or did you mean to say that this type of consulting could lead to the appearance of conflict of interest? Those are three completely different issues.

    Are you saying it’s a problem for the President to have advisors with intimate knowledge of an industry and its practitioners? Where does this lead? Do we want someone like Secretary of Defense Robert Gates providing advice to the President on financial industry issues?

    Key point: it’s one thing to write an informed, opinionated, and… umm… frank blog. It’s another thing to go on a national news program and assert that a key economic advisor to the President has been “captured” by industry. Many of us here on the web look down our noses at the TV viewing audience but the fact is that for many US citizens MSM (especially TV) is their primary source of news. When one deals with the MSM I think one is obligated to choose words with a bit more care.

    W T F

  2. rob says:

    The whole piece was just a worthless distraction to encourage dissent toward anyone that made money when so many sheep lost. (No offense Barry) Wow, the guy made a lot of money doing his job… shocking! Same public attitude toward those bastard short sellers!


    BR: I mentioned that everyone is entitled to earn a living — what you saw was a snippet of a much longer interview…

  3. dss says:

    Summers needs to be abrogated. He is a walking conflict of interest, as his paychecks prove, and any advice given must be viewed by those not in the Obama adminstration as something that will eventually be self serving. This man is one of the prime architects of the deregulation that caused this mess, he is a major part of the problem, not the solution.

    There is no one else anywhere that can give better advice? Even his advise and commentary suck, and is proof of his being in bed with those he needs to regulate. His future paychecks depend upon his being kind and gentle to the banksters and hedge funds, why don’t we just let him go back to collecting massive amounts of money for doing nothing instead of screwing up the system even more than he already has?

  4. jrnbj says:

    my, my, aren’t we testy….truth stings a bit, does it?

  5. franklin411 says:

    PS–Rachel Maddow dove right on this last night…it was pretty obvious that she didn’t really care about the money. She was dying for a chance to skewer Summers for his comment about women and math. Not surprising, I suppose, but it shows one reason why this is a tempest in a teapot.

  6. Transor Z says:

    WTF wrote:
    When one deals with the MSM I think one is obligated to choose words with a bit more care.

    Translation: When one speaks to the masses one must be careful to not upset the apple cart.

    It’s called “democracy,” WTF. Look into it. Prove actual malice or STFU.

  7. Mannwich says:

    It amazes me that there remain many here who still can’t see the obvious conflicts of interests here by Summers. It’s called human nature, folks. Even mere appearances of conflicts of interests matter a lot in this environment, as it could greatly undermine O’s credibility, which gets to the heart of his ability to lead. To stick one’s head in the sand and explain it away isn’t going to work in this environment. That’s the key. Any other normal time period and this likely wouldn’t matter. This is clearly not a “normal” time period.

  8. Chubby Davis says:

    Is that a TV tan or L.A. tan?

  9. The weather in LA was so-so.

    I spent most of Sunday outdoors — working in the yard, reading a book, and playing with the dogs. So actually, its a NY tan . . .