Thread by @DavidSegalRI, Bloomberg reports @larrysummers15 advising Biden re: economy + this is likely to [...]

Bloomberg reports @larrysummers15 advising Biden re: economy + this is likely to “roil” progs. *Pls retweet this thread* which includes Biden advisors, to make clear we’re roiled! @AndrewBatesNC @KBeds @jomalleydillon @StefFeldman @KateBerner @thematthill
https://www.bloomberg.com/amp/news/articles/2020-04-23/larry-summers-advising-biden-campaign-on-economic-recovery?__twitter_impression=true

I've been writing w @jeffhauser about the damage done by virtue of an Obama admin led by corporate insiders, and how we must learn from this mistake and make sure it doesn’t happen again. @arb73az @RonaldKlain @SymoneDSanders @JohnWMcCarthy @kurt_bagley https://democracyjournal.org/magazine/personnel-is-policy/

Personnel Is Policy

The vital importance of appointing people who work—and think—in the public interest.

https://democracyjournal.org/magazine/personnel-is-policy/

Non-exhaustive re: why Summers is awful. Served as Chief Economist of World Bank as it promoted devastating "shock therapy" in former Soviet Union + Eastern Europe. At Treasury helped oversee similar programs in East Asia etc. @AndrewBatesNC @KBeds @jomalleydillon @StefFeldman

As Treasury Sec under Clinton helped oversee deregulation of financial markets including via 1999 Financial Services Modernization Act, which repealed Glass-Steagall. @RonaldKlain @SymoneDSanders @JohnWMcCarthy @kurt_bagley @BillR @thematthill @MeganApper https://www.theatlantic.com/business/archive/2013/09/the-comprehensive-case-against-larry-summers/279651/

The Comprehensive Case Against Larry Summers

Of course he's brilliant. But he also displays all the attributes -- arrogance, bullying, stubbornness -- that you don't want at the head of the Fed.

https://www.theatlantic.com/business/archive/2013/09/the-comprehensive-case-against-larry-summers/279651/

Helped ensure derivatives would not be regulated, through advocacy for Commodity Futures Modernization Act. Less than decade later a $45 trillion unregulated credit default swaps market helped spread crisis through financial system. @JohnWMcCarthy @kurt_bagley @BillR @thematthill

As crisis hit @larrysummers15 fought against allaying impact on ordinary people. Fought “cramdown” (reduction of mortgage balances) ensuring foreclosures, while supporting great largess for the big banks. @StefFeldman @KateBerner @thematthill @MeganApper @arb73az @RonaldKlain

Policies like these led to fraying of social contract and extraordinary unequal recovery, ensuring sustained generalized despair, laying the groundwork for the emergence of rightwing populism + Trump. @AndrewBatesNC @KBeds @jomalleydillon @StefFeldman https://www.theatlantic.com/business/archive/2013/09/the-comprehensive-case-against-larry-summers/279651/

The Comprehensive Case Against Larry Summers

Of course he's brilliant. But he also displays all the attributes -- arrogance, bullying, stubbornness -- that you don't want at the head of the Fed.

https://www.theatlantic.com/business/archive/2013/09/the-comprehensive-case-against-larry-summers/279651/

As we seek to undo damage, @larrysummers15 has spent last year opposing wealth tax - which is popular across party lines. Likely bc he hates Warren for blocking him from Fed Chair, his dream job. @JohnWMcCarthy @kurt_bagley @BillR @thematthill @MeganApper https://www.forbes.com/sites/eriksherman/2019/10/27/why-larry-summers-opposition-to-the-wealth-tax-is-predictable-and-wrong/#27e8ebe1f8e3

Why Larry Summers’ Opposition To The Wealth Tax Is Predictable And Wrong

Larry Summers makes many arguments that a wealth tax is a bad idea. Almost none of them hold up to scrutiny.

https://www.forbes.com/sites/eriksherman/2019/10/27/why-larry-summers-opposition-to-the-wealth-tax-is-predictable-and-wrong/#27e8ebe1f8e3

As we fight through COVID crisis, @larrysummers15 gallingly wonders “Why can’t the greatest economy in the history of the world produce swabs, face masks and ventilators in adequate supply?” even tho he pushed policies intended to offshore manufacturing: https://twitter.com/davidsirota/status/1241504498868047872

https://twitter.com/davidsirota/status/1241504498868047872

Those who’ve worked with and under him say he’s a bully.
@AndrewBatesNC @KBeds @jomalleydillon @StefFeldman @KateBerner @thematthill @MeganApper @arb73az @RonaldKlain @SymoneDSanders @JohnWMcCarthy @kurt_bagley @BillR @thematthill @MeganApper https://www.theatlantic.com/business/archive/2013/09/the-comprehensive-case-against-larry-summers/279651/

The Comprehensive Case Against Larry Summers

Of course he's brilliant. But he also displays all the attributes -- arrogance, bullying, stubbornness -- that you don't want at the head of the Fed.

https://www.theatlantic.com/business/archive/2013/09/the-comprehensive-case-against-larry-summers/279651/

Summers has expressed “that innate differences in sex may explain why fewer women succeed in science and math careers” @RonaldKlain @SymoneDSanders @JohnWMcCarthy @kurt_bagley @BillR @thematthill https://www.nytimes.com/2005/01/18/us/harvard-chief-defends-his-talk-on-women.html

Harvard Chief Defends His Talk on Women

Harvard Univ president Lawrence H Summers stands by his remarks that offended some women at recent academic conference; had suggested that innate or biological differences in sexes may explain why...

https://www.nytimes.com/2005/01/18/us/harvard-chief-defends-his-talk-on-women.html

He isn’t only problem. Must make clear Fink, Nides, Facune, Zients, others of their ilk won’t run admin @AndrewBatesNC @KBeds @jomalleydillon @StefFeldman @KateBerner @thematthill @MeganApper @arb73az @RonaldKlain @SymoneDSanders @JohnWMcCarthy @kurt_bagley @BillR @thematthill

You can follow @DavidSegalRI.

Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled: