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Three down ? to go

Tam

Well-known member
Summers announced he is stepping down from Obama Finance Advisory board at the end of year. That makes three when does Turbo Tax Tim go?
 
A

Anonymous

Guest
Tam said:
Summers announced he is stepping down from Obama Finance Advisory board at the end of year. That makes three when does Turbo Tax Tim go?

Maybe he figures his work is done....Bush Bust was longest since the Great Depression :roll:

Sept. 20, 2010, 3:08 p.m. EDT ·

U.S. recession ended June 2009, NBER finds
Downturn of 18 months ranks as longest since Great Depression


Home builder index stuck at multi-month lows
First Take ›


WASHINGTON (MarketWatch) — The U.S. recession that began in December 2007 ended in June 2009, making the 18-month slump the longest since the Great Depression, according to the National Bureau of Economic Research.

Yet the NBER also cautioned that its findings bear no relation to the current state of the economy and do not represent a forecast about the future. If another downturn occurs anytime soon, the NBER said, it would constitute a separate recession. See NBER statement.

The NBER, founded in 1920, is a nonprofit group entrusted by the government with determining when recessions begin and end. The Cambridge, Ma.-based group includes leading economists in business, academia and trade unions.

Lawrence Summers to leave White House post, return to Harvard

September 21, 2010 06:00 PM

By Globe Staff

Lawrence Summers, the former Harvard president who has been serving as a top economic aide to President Obama during turbulent economic times, plans to return to Harvard as a professor at the end of the year, the White House announced today.

Summers has been serving as director of the National Economic Council and assistant to the president for economic poilcy.

"I will miss working with the President and his team on the daily challenges of economic policy making. I'm looking forward to returning to Harvard to teach and write about the economic fundamentals of job creation and stable finance as well as the integration of rising and developing countries into the global system,"Summers said in a statement.


Summers is the third top economic official in the administration to leave. Christina Romer, who was chair of the Council of Economic Advisers, left earlier this month to return to academia. Peter Orszag left his post as budget director this summer.

The move comes as the administration struggles to show an anxious public it's making progress on economy.

In a statement, the president said he is grateful forSummers' service during a time of "great peril for our country."

"While we have much work ahead to repair the damage done by the recession, we are on a better path thanks in no small measure to Larry's wise counsel," Obama said.

Summers will return to Harvard University, a move a senior administration official said was always part of Summers' long-standing plans. The official said the president asked Summers last fall to stay through 2010 in order to see through the passage of financial regulatory legislation and the continued implementation of the economic stimulus package.
 

Tam

Well-known member
Ask yourself Oldtimer how fast would the economy come around if Obama and his Advisors would have stayed the h*ll out of the way and allowed it to correct itself. Or did you forget that economists said it would correct itself faster without Obama's trillion dollar debt to weigh it down. :roll:

And it is Funny how after the first two left they came out against Obama and his plans for going forward. Just how long do you think it will be before Summers comes out against Obama, a week or two? :wink:
 

Tam

Well-known member
BTW Oldtimer if Obama did such a great job in the past two years why are his hand picked townhall attendee telling him she is exhausted of defending him and his policies and asking him if their new reality is going to be going back to eating beans and weiners? That doesn't sound like his own supporters are happy with him and his Economic Advisors.

I would bet Summer is bailing just like the first two did. Only question is, is he man enough to admit like the other two, that he doesn't agree with Obama. :wink:

Note to Oldtimer most economists consider Obama's Stimulus Bill a FAILURE. So what really brought the US out of Recession?
 

Lonecowboy

Well-known member
Oldtimer wrote:

I'm looking forward to returning to Harvard to teach and write about the economic fundamentals of job creation and stable finance as well as the integration of rising and developing countries into the global system,"Summers said in a statement.

what is that old saying, "those who can, Do, those who can't, teach"

what does this guy know about job creation?
How many payrolls has he personally had to meet?
all he can write about and teach are theorys-that he learned out of books written by other libtards like himself. well his "theorys" didn't work out too well for America did they.
obamaconomy doesn't look too rosey. trillion dollar+ defeciet, 13+ trillion debt. almost 10% unemployment ( promised by obama to stay under 8% if his policies were enacted) Largest tax hikes in history looming on the horizon, and on and on it goes.
and you want to try and defend this?
Step away from the kool-aid stand ot, the cool, sugary concoction has went to your brain!
 

Lonecowboy

Well-known member
Fed officials are considering adding to the $2,350bn of assets on its balance sheet to drive down long-term interest rates and stimulate an economy that is not growing fast enough to bring down unemployment.

The Fed has come under growing pressure to act after economic growth weakened over the summer to a level that is too slow to reduce unemployment.

- payrolls have increased by only 723,000 so far this year and the unemployment rate remains stuck at 9.6 per cent. Growth in the second quarter of 2010 slowed to an annualised pace of 1.6 per cent.
Jim O’Sullivan, chief economist at MF Global in New York, said the statement signalled that the Fed now had a bias towards easing policy: “It probably means that it takes [economic] strength to stop them from triggering a move rather than needing new weakness.”

A Fed-watcher at a leading hedge fund said: “This was broadly expected, although given the political implications of an easing just after the Congressional elections, getting ahead of the curve now would have been advantageous.”
 

hypocritexposer

Well-known member
Replaced by a lawyer, who's one of those "grassroots" types of protesters.

Three Mile Island brought cohesion to the antinuclear movement. A few days after the incident, plans for a march were made at a hastily called meeting in Washington, sponsored by Nader's group. "This represented a real turning point for the movement," says Tim Massad, one of the organizers. "Before this we had a network of groups on the local level. But now we see people directing mass action at the President and Congress, the people ultimately responsible for Harrisburg, instead of individual utilities."

Read more: http://www.time.com/time/magazine/article/0,9171,920348-2,00.html#ixzz10IlVLCQF





U.S. Financial Bailout Chief Resigns
by The Associated Press

September 22, 2010

Herb Allison, the head of the government's $700 billion financial bailout program, announced on Wednesday that he would resign. He is the latest in a series of departures from President Obama's economic team.

Allison, who had served as head of the bailout program since April 2009, said in a letter to colleagues at the Treasury Department that they had accomplished a great deal and helped to stabilize the financial system.

The Troubled Asset Relief Program, the formal name for the bailout program that began during President George W. Bush's administration, has been widely criticized by the public as a rescue for wealthy bankers who took extraordinary risks.

Allison will be succeeded as head of the program by Tim Massad, 54, who will become acting assistant Treasury secretary for financial stability while the administration looks for a permanent successor.

Before joining government, Massad had been a partner for 17 years at the New York City law firm of Cravath, Swaine & Moore.
 

hypocritexposer

Well-known member
Forgot to mention, that word is, Rahm will jump ship as early as next week.



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