“No Man’s life liberty or property is safe while the legislature is in session”.

- attributed to NY State Judge Gideon Tucker

Friday, September 24, 2010

Another One of Wonderboy's Failed Economic Team Departs

Larry Summers announced his resignation from Wonderboy's economic team on Tuesday evening.

Coming after the departures of budget chief Peter Orzag and economic adviser Christine Romer, Summers' departure pretty clearly signals that even Wonderboy realizes, if only privately, that his team has propagated an economic disaster.

Of course, every pundit in sight, including even conservative Larry Lindsay, spun Summers' resignation as natural, expected, completely normal, etc. I guess it's the usual public ass kissing so that Summers won't be angry with anyone, lest they need to be on good terms with him in the future for business.

Despite all the protestations that these jobs are so grueling and, thus, everyone wants to leave in two years, you really have to wonder. Summers apparently loses tenure at Harvard if he's not back by January.

And, if the team were doing so well, why wouldn't these people simply move into new administration jobs, rather than fleeing the (sinking?) ship?

And what happened to be Summers replacing Geithner, or becoming Fed Chairman? Surely Wonderboy doesn't want to lose such a proven, excellent economic aide?

And why is it that the prior, published work of both Romer and Summers contradicts their statements while members of Wonderboy's economic team? Maybe Paul Krugman should have had either Summers' or Romer's job in the first place. Then, again, if he had, who would have been on the outside, writing purportedly-objective editorials favoring the administration's economic actions, when not complaining that they weren't liberal enough?

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