Larry Summers To Run World Bank? 37,000 Sign Petition Saying No In 24 Hours

Larry Summers is in the running to head the World Bank. But according to tens of thousands of people that recently signed a petition, he's not the man for the job

More than 37,000 people have signed a petition expressing their dismay at the idea that Summers -- who as then-president of Harvard, once famously suggested that women might lack an "intrinsic aptitude" for science and engineering -- could be put in charge of the World Bank, an institution that allocates funds to developing countries.

"[T]he World Bank has a lot of power over the education and training of women and girls in developing countries," reads the petition in part. "We need a nominee who believes girls have the same potential as boys."

Dealbreaker reports that those 37,000 signatures came within the first 24 hours of the petition's existence -- which, by our calculations, works out to about 25 signatures a minute, or a new name every two and a half seconds.

Summers, a former top economic advisor to President Obama, is said to be among the president's top choices to take over the World Bank later this year, when current president Robert Zoellick's term expires. Obama is also reportedly considering Secretary of State Hilary Clinton for the position, as well as other candidates, according to Bloomberg.

This isn't the first time Summers has attracted public displeasure. The former Secrtetary of the Treasury under Bill Clinton has been a bugbear of the left for several years -- going back as far as 1991, when Summers, then chief economist at the World Bank, signed another staffer's tongue-in-cheek policy memo that argued that toxic waste should be shipped to developing countries for dumping.

More recently, Summers has drawn ire for his record of pushing back against regulation for derivatives markets -- even though critics argue that a lack of oversight in that area played a direct role in the 2008 financial crisis. Summers has also been criticized for his ties to hedge funds and investment banks, including major Wall Street players like Goldman Sachs, Lehman Brothers and Citigroup.

Those grievances lay at the heart of another petition against Summers -- one that was circulated in 2008 to try and knock Summers out of the running for a second stint as Treasury Secretary, a position that instead went to Timothy Geithner.

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Comments

[yogamews]

04:02 PM on 03/19/2012

No more Summers, Geithner, or any other Goldman stooges ! If Obama doesn't dissociate from the idiots that caused the financial meltdown, his election will be at risk !

[Frank Portera]

05:02 PM on 03/15/2012

Larry Sommers profited in the 2008 derivatives debacle. He knew and knows what he was doing. He systematically stole from millions of small investors. He is a world class thief. Pres Obama should be keeping the wolves out of the hen house, not giving them the keys to get in, the bag to take the $ home in. I say appoint Brooksley Born, someone who tried to fight this racketeering scheme, fraud and corruption.

[Johnston Morgan]

01:54 AM on 03/15/2012

Gosh, Larry Summers heading the World Bank. What a swell idea, now that Harpo Marx is no longer with us. Loved the comment of the girl at the back of the class. Deep, very deep.

[finadd]

08:22 AM on 02/29/2012

Here's one more reason to skip Summers for World Bank
http://financeaddict.com/2012/02/one-more-reason-to-skip-summers-for-world-bank/

[Flight]

07:23 PM on 02/26/2012

That's right, BO, give the fox the job of watching the hen house...again.

[kenhamlett]

06:56 PM on 02/26/2012

I wish Mr. Summers would simply go into retirement. I wish President Obama had left him out of his administration, but I certainly do not want to see him given another position of any kind.

[TeeLolly]

02:20 AM on 02/26/2012

Just as troubling as his comment about women's aptitude for science and engineering is his apparent "cover-up" concerning the extent of the financial crisis and the need for a bigger stimulus package than what he recommended. 

http://abcnews.go.com/blogs/politics/2012/02/leaker-of-stimulus-memo-uncovered/

Anyone who would usurp the president's authority to make the ultimate decision shouldn't be entrusted with policy-making responsibilities.

[guveqzero]

01:10 AM on 02/26/2012

Summers needs to retire and give his job to someone that deserves it.

[yogamews]

04:03 PM on 03/19/2012

Like Jeffrey Sachs !

[dbrett480]

04:32 PM on 02/25/2012

That comment he made is never going away and will always haunt him, even if he is the most qualified person for this job.

[Skeetshooter]

01:39 PM on 02/25/2012

Summers is a huge carnivorous dinosaur in a world that's been hit by an economic meteor. -One he and his cargo cult cronies apparently brought into Earth orbit. Why doesn't he just die already? Metaphorically, that is, so we can name the new era P.S. or Post Summers.

[Janzee12000]

03:49 PM on 02/25/2012

You're abso-farking-lutely right! This guy played a role in the decidedly change in our macro-economic theories that drove policy for the last couple of decades. These policies went unabated w/o oversight and big business not only took advantage of this but lobbied for increased legalizing of comical financial business practices. Sadly, there's no way this guy will go to jail so we should just push him aside, thank him for showing us what NOT to do, and embark on a more stable path to long term goals...

[Charles W Noble]

12:45 PM on 02/25/2012

What creates great economist is not just a great mind. It is clear that there are many great minds out there, but their subjective experiences makes a difference. If you were born to a wealthy family focused on protecting your wealth and influence, that experience impacts your objective research. If you were born in loving family who was poor, you might look for a more equitable approach to economics. IF you are an upper middle class person or below that, we should think about creating a fund that provides scholarship for people who have a subjective viewpoint that will help them see things from the 99%ers perspective. I think a huge percentage of academics come from the 1%ers perspective and that should be changed.

[dawniscoming]

09:30 AM on 02/25/2012

What is really pathetic is the most important story on this site right now is this one and it has under 50 comments, meanwhile a story about 14 year old girls posting a youtube video saying racist garbage has over 16,000 comments.

[George Broadway]

12:58 PM on 02/25/2012

And people wonder why AOL prioritizes those articles over real news.

[fairness6]

08:41 AM on 02/25/2012

I don't understand it. Which groups are backing up this guy? Is Natanyahu also asking that this Larry Summers be the head of the World Bank since Natanyahu is after all running the USA?

[AlfredE69]

08:25 AM on 02/25/2012

Now he's planning on bankrupting the World.

[evilgoogleman]

09:43 PM on 02/24/2012

Yes indeed, Summers seems like the perfect person to run the world bank. It's a criminal organization, so who better to run it than him...