Larry Summers, Maria Bartiromo Interview: Summers Dodges On Stress Tests

Portfolio:

Larry Summers just gave an interview to CNBC's Maria Bartiromo in which neither side was particularly impressive. Bartiromo managed to go the entire interview without asking Summers about about the fact that he seems to be bought and paid for by Wall Street. And Summers proved himself incapable of even answering Bartiromo's softballs:

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Comments

[plaidsportcoat]

Thanks for the review- no need to watch or read it now!

[cdrach]

too bad Larry didn't have a private jet for Maria and himself like the CEO of CITIBANK had - I heard that type of stuff makes Maria feel a "mile high". CNBC is a massive tool existing solely to air propaganda for Wall Street.

[madfigs]

This guy needs to go, now.

[PhilipTaylor]

Washington-Wall Street Scam: Just FACTS!

$5 Billion Wall Street gave to Congress over Ten Year:

1. Average $7.5 Million to each Senator/4 years!
2. Average $1.86 Million to each House Member/4 years!
3. Early Campaign Obama took Lead in Wall Street Funds: $479,209 with GS/UBS Biggest!

1980 WS Executives made 20 times average Worker
2008 WS Executives made 400 times average Worker
NOW Canada Executive made 20 times average Worker
NOW Britain Executives made 22 times average Worker
NOW Japan Executives made 11 times average Worker

300% Increase in Pay for Top 1% from 1980-2008!
20% Decrease in Pay for Other 99% from 1980-2008!

Top 400 Taxpayers Paid = $105 billion in adjusted gross income (Gross Much Larger)
Top 400 Taxes Paid = $18 billion = Tax Rate 17%
In 2002 Top 400 Tax Rate = 23%
In 1995 Top 400 Tax Rate = 30%

1980 Banking was 10% of US Profits
2007 Banking was 40% of US Profits
Shrink Banking to 1980 SUPPORT ROLE in Our Society!


FED/Treasury gave $Trillions to WS and only $Billions to Main Street!
$1,000 to WS for Every $1 to Main Street!

Reduced "Market-to-Market" Rule so Banks can L1E about value of $700 Trillion in Toxic Assets!

NOT "1" Executive (except mergers) Fired, Fined, Investigated, Prosecuted, or Convicted!

Why is WS charging Main Street 17.5% to 35% on Credit Cards?

Can Wall Street Survive if Main Street Boycotts Wall Street?

[TJCole]

"Pay no attention, to that man behind the curtain...!"

"It's all for the good of The Syndicate, Yossarian..!"

[InOv8]

Where's Paul Volcker? I'd still like to hear him answer questions from economists, elected representatives, and journalists (real ones only, please).

[Samalabear]

My second impression of Obama, after a first favorable impression in 2004, was of a guy who makes very pretty speeches and tells the people what they want to hear. Somebody say it ain't so. I should have gone for that third party vote. That was my original intention. I really did trust Hillary over Obama. I don't know why. Maybe it was because she was making mistakes in the primaries. To me it made her human. Obama was always cool, always slick, and that always made me kinda wary. But I was positively terrified of the thought of McCain/Palin and so I sold my soul. I have never heard Obama quote Jefferson on banking. If he did I would have some measure of belief in him.

[LeeCalif]

If Geithner, Summers and the Obama administration continue to evade The Warren Oversight Panel

our banking system WILL FAIL.

[MetalCanuck]

Its sad how obama hires these guys.

[sposton]

Why would anyone expect anything else from Summers?

[dhfsfc]

He's smarter than all of us.

Don't cha know?

At least that is what he thinks.

[slowhand0728]

Not only is he smarter than all of us, he does not even think we deserve an answer. We should just be quiet and sit at the childrens table from now on.

[marthainmaine]

When Mexico was bankrupt in the 90's Larry Summers lent them, as Clinton's under Sec. of Treasury , 25 billion through the Stabilization Fund. He set the interest rate so high, thousands of homes and businesses were foreclosed. Then the mass migration on Mexicans to the US began.

Alan Greenspan , in his memoir , said this forged a lasting bond between Rubin, him and Summers. because it was his idea to set the interest rate so high...they would pay it off early.

So between that and his work to deregulate banks....there is no single person who has hurt our economy more.

[johnsonc20]

Summers was also one of the architects of "shock therapy" capitalism in Russia, that turned government bureaucrats into instant oligarchs - leading to a rejection of capitalism by the people and the return of state ownership under Putin. Summers is a real piece of work. And Obama friggin' hired this joker?? I don't get it. The only explanations are: 1) Obama isn't as bright as we thought he was; or 2) Obama is interested in serving his corporate masters first, and the people second.

[jmpfjoy]

I'm going Hawaian on this one....

Me Like A Leaky

[higgins1990]

"Obfuscates" - pretty much describes the actions these last two months of Summers, Geithner and Obama's economic dream team.

[munki]

WHITE HOUSE...

can you HEAR US?

NO SUMMERS! He is working on his OWN benefit like President of Brazil said!!!