Another order of magnitude.

Editor,

Another article juxtaposing "Lawrence Summers" and "Federal Reserve." One can only assume that the fix is in.

Citigroup is going to get their man Summers heading the Fed; President Obama has sent the MSM out to get the American public used to the idea.

Maybe 10% of the American public knows that Summers pushed to repeal Glass-Steagll, opposed regulating derivatives, lost $1 billion of Harvard's endowment betting on a derivative of a future interest rate, and of course argued for a smaller stimulus in 2009 when an adequate one was on the table and could easily have passed (all three houses of government were in Democratic hands).

So the sides are: the vast American public who swallow their propaganda whole versus a miniscule minority who read books about what's actually going on.

A few more months of this and the battlefield will have been prepared. Summers will come in, champagne will flow on Wall Street, and Americans will descend another order of magnitude into poverty and despair.

Re: "The Fed, Lawrence Summers, and Money" (8/11/2013)