Tuesday, September 21, 2010

Breaking: "Summers Expected to Leave White House After Election" (and some thoughts on arrogance)

As I said in the intro to last October's post "Frontline's "The Warning": Now Taking Prop Bets on When Obama Fires Larry Summers' Ass" :
The guy is not just arrogant. He was way, way wrong. Summers will be leaving the administration to "persue other interests" Here's the video from PBS...
Here are some further thoughts on arrogance, this time with my bile directed at "Rosie":
Markets: What's Big and Bad and On the Horizon?
I usually don't have much time for Gluskin Sheff's David Rosenberg. His pig-headed refusal to listen to the market as the averages advanced more than 70% was not only arrogant but expensive for his firm's clients.

I can handle arrogant as long as you're right, hell I can tolerate a fat guy in a grass skirt and spike heel Manolo Blahniks if he's right.
It would be fun to watch him tottering around.
But Mr. Rosenberg hasn't been right for a while and he's not funny.

Funny is important if you're doing the Angel of Death schtick. Here's our thinking ...
Now I'm probably a mental midget* compared to the former Harvard president but I know how to treat people right.
After that longer than necessary introduction, the headline story from Bloomberg:
White House officials expect Lawrence Summers to leave his job as the president’s National Economic Council director after November’s congressional elections, according to three people familiar with the matter.
His departure would leave Treasury Secretary Timothy Geithner as the only member of President Barack Obama’s original top-tier economic team. Summers, 55, and the president have discussed his future plans, according to one person.

Administration officials are weighing whether to put a prominent corporate executive in the NEC director’s job to counter criticism that the administration is anti-business, one person familiar with White House discussions said. White House aides are also eager to name a woman to serve in a high-level position, two people said. They also are concerned about finding someone with Summers’ experience and stature, one person said.

The people familiar with White House discussions spoke on condition of anonymity because no decisions have been made.

White House officials declined to comment directly on Summers’ plans. Robert Gibbs, Obama’s chief spokesman, said today it “is not a surprise, that there will be people who have worked enormously hard over the past few years to make decisions to go back to doing” what they did before joining the administration....MORE
*Maybe not:
How Larry Summers lost Harvard $1.8 billion
I've never lost $1.8 bil. in my life.
[never had it either -ed]