But I bet it will be him, because he is an old boy.

They agree with you.

Summers, however, is the CEOs' rentboy, and that's why he's a contender.

We don't want a deregulator with still-wet blood on his hands.

according to her Wikipedia bio:

On April 28, 2010, President Obama nominated Yellen to succeed Donald Kohn as vice-chairman of the Federal Reserve System.[11] In July, "[t]he Senate Banking Committee voted 17 to 6 to confirm her, though the top Republican on the panel, Senator Richard C. Shelby of Alabama, voted no, saying he believed Ms. Yellen had an 'inflationary bias.'" At the same time, on the heels of concerned testimony by Fed chair Bernanke, FOMC voting member James B. Bullard of the St. Louis Fed made a statement that the U.S. economy was "at risk of becoming 'enmeshed in a Japanese-style deflationary outcome within the next several years.'" Bullard's statement was interpreted as a possible shift within the FOMC balance between inflation hawks and doves. Yellen's pending confirmation, along with those of Peter A. Diamond and Sarah Bloom Raskin to fill vacancies, was seen as possibly furthering such a shift in the FOMC. All three nominations were seen as "on track to be confirmed by the Senate."[12]

On October 4, 2010, Yellen was sworn in for a 4-year term ending October 4, 2014. Yellen simultaneously began a 14-year term as a member of the Federal Reserve Board that will expire January 31, 2024.

I assume it's another casual insult to the people who frequent this site, but why do you think this aligns DU with Wall Street sentiment? Do you think Wall Street is against Summers? I mean, playing a little inside baseball and expecting the Vice Chair to be promoted Chair instead of Summers isn't exactly the same as DUers being against crony capitalism and bubble economics.

type slander. If I can't detest fucking Larry Summers on his own terms for his part in the too big to fail scandal, nearly bankrupting Harvard and every other loathsome thing he has done, then I guess I am not allowed to think a rapist or a murderer should go to jail if they voted for Obama.

Foolish, foolish, foolish people.

It appears Wall Street and DU are in agreement when it comes to the possibility of Summers serving as Fed chair.

Just sayin'

has nothing to do with the idea that he would curb their activities. It has to do with the fact that he is so incompetent and reckless that he nearly bankrupted Harvard. He played so fast and loose with their funds that they had to stop serving a hot breakfast at an institution that is insanely expensive to attend.

You think THAT is a good idea for the Federal Reserve head? That's like asking Bernie Madoff to chair the Fed and think, "Oh, he'll do better this time."

Please have some backstory on why there is horror at the idea of this man running the Fed. Hint: It isn't because Obama is considering him.

Everything he did that we rightly hate him for was programmatic action. The idea was to deregulate banking so that banksters could plunder and so that wealth would be further concentrated with the 1%. The idea was to restore an old-style parochialism at Harvard with attacks on uppity minorities and women. These were not mistakes. The system and its actors do what they appear to do. To call it incompetence is to ascribe an unknowable motive. If his actions were really unintended failures, he would not have been Obama's economic adviser or in consideration for Fed chair at this time. Don't give them the benefit of the doubt. He is a class warrior.

It's funny that you seem to despise your fellow DUers for preferring Yellen without having the guts to state your preference for Summers.

If you don't prefer Summers then you are just bent out of shape over other DUers agreeing with you... which is intriguing.

Maybe you don't have a preference at all, and decided to make a divisive OP out of simple nihilism.

You on the other hand have chosen to follow the herd which is not surprising. Choosing to follow the flock is easy to do.

Refusing to jump on the bash Summers bandwagon does not mean I want him as the Fed chief. Wall Street and much of DU has written him off. I have not written him off.

I think I'll wait before I make any final judgements, unlike the herd followers like yourself.

than part of the herd that blindly follows it because "Hey, how bad could it be to fall off it?"

That really is the truth of it, isn't it? If Obama had stated a preference for Yellen, you'd be praising her and saying it was such a wise move. No doubt you will, if that does indeed happen. But if not-- well, best not state your opinion until you've received it, right?

I would be disappointed if Obama nominated her, but I do think he will.

Obama should nominate a horticulturist or the poet laureate!

But if Summers gets picked? Hell, yes, I'll be screaming the same way I am now, and it has nothing to do with Obama but it has to do with Summers being an incompetent crook. I will stand by that opinion regardless, and "Obama picked ____" will never change my opinion on who the candidate is. You yourself said you thought Summers was a lousy pick.

Changing your mind now?

of dimensions.

And that doesn't mean I'm going to bash Yellin or anyone else that is picked. I'm specifically against Summers because he is incompetent and reckless. His record shows that.

If he weer to take any governmental appointment, I'd rather see him in a Administration position. The Fed is a key component, but it's rather limited in what it can do. Right now, we just need someone who would continue Bernanke's policies.

But, then again, Krugman is such a good writer I think he's more effective right where he is.

I am against NSA spying. Apparently that means I am a libertarian Paul supporter. Now because I don't like Summers I am a Wall Street supporter. I don't know that much about Yellen, but I don't like Summers. That does not mean I support Wall Street. But my all means continue with the name calling. Very mature.

No predictability here...

No predictability in either who was going to post it first or what the argument would be.

Nope.

Your brilliance is absolutely unparalleled.

A supporter of x...

On the side of y...

A z-bot.

Man it's like groundhog day... over and over ad infinitum.

Unparalleled brilliance.

Does that work for you?

just less high profile at DU and to the public at large.

Yellen was head of the CEQ under Clinton etc.

Here is her wiki:

http://en.wikipedia.org/wiki/Janet_Yellen

I had near daily contact with her 30+ years ago and personally thought she was creepy after I knew her about a week.


I go for Stiglitz, if willing and able.

Stiglitz wiki:

http://en.wikipedia.org/wiki/Stiglitz

edit to add Stiglitz wiki