After Larry Summers work on the Clinton team getting Gramm,Leach,Bliley Act, which eliminated Glass-Steagall, and the Commodities Futures Modernization Act that created the Enron Loophole, and put derivatives beyond the reach of regulators, passed ... it would be an act of sabotage to put Larry Summers in as Federal Reserve Chairman. The only rational I can see for this is that likely, like Tim Geithner, Larry Summers is one of the few individuals that has intimate knowledge of the Global Derivatives Ponzi that keeps the US, and by extension, Global Economy afloat. Wall Street probably believes a person like Janet Yellen, who is a legitimate Economist, as Fed Chair might wind up doing the correct thing for the American Economy and wind up crashing Wall Streets fraud factory, pushing the Global Economy over the cliff as a result.
Let's be clear, Wall Street's day of reckoning is coming no matter who is appointed Fed Chair, and many big players in the Financial sector are fully aware of that. A Larry Summers appointment would just be stalling for a little more time.
Read the Article at HuffingtonPost
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