[lbo-talk] Could Summers possibly be good for our side?

Michael Pollak mpollak at panix.com
Sat Nov 29 16:43:52 PST 2008


On Sat, 29 Nov 2008, SA wrote:


> But when push comes to shove, on the things that really matter - financial
> re-regulation being the most important, in my view - I think he'll be to the
> right of Volcker.

His column on the subject certainly is not:

The six principles of regulation: http://www.ft.com/cms/s/0/6e0613d4-2fef-11dd-86cc-000077b07658.html


> In the end, he'll come down on the side where he sniffs power and
> popularity, i.e., the side his patron Robert Rubin will be on.

Perhaps. But I suspect he really cares more about his emminence among economists more than any other single thing. To design a clearly new system of regulation that marked a new epoch and had his name attached to it... that might turn him on more than money and fame.

Also I think he wants the Fed job. So giving lots more power to the Fed might appeal to him.

Well that's as far as I can speculate in my role as a devil's advocate (truly, in this case!). We shall see.

Michael



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