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Petition statement to be delivered to President Barack Obama

Don't let Larry Summers head the Fed

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Don't let Larry Summers head the Fed

To be delivered to President Barack Obama

Petition Statement

Picking Larry Summers for Fed chair would be exactly the wrong message to send at the moment. Summers is one of the main architects of the policies that have given us the worst downturn since the Great Depression. It would be an especially bad signal to send when there is an outstanding pick already at the Fed serving as Vice-Chair, Janet Yellen.
There are currently 22,367 signatures. NEW goal - We need 25,000 signatures!

Petition Background

The Washington Post says that right now, Larry Summers is the front-runner for chair of the Federal Reserve, one of the most powerful economic policymaking positions in the country. But as noted progressive economist Dean Baker says, "Picking Larry Summers for Fed chair would be exactly the wrong message to send at the moment. Summers is one of the main architects of the policies that have given us the worst downturn since the Great Depression. It would be an especially bad signal to send when there is an outstanding pick already at the Fed serving as Vice-Chair, Janet Yellen."

References:
Reuters, "Opposition mounts to Summers as possible Fed chief,"
http://www.reuters.com/article/2013/07/26/usa-fed-summers-idUSL1N0FV0T820130726 (mentions this petition)
Bloomberg, "Senate Democrats Ready Letter Urging Yellen as Fed Chief,"
http://www.bloomberg.com/news/2013-07-26/senate-democrats-ready-letter-urging-yellen-as-fed-chief.html
Dean Baker, "The Return of Larry Summers?"
http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/the-return-of-larry-summers
Felix Salmon, "Don’t send Summers to the Fed,"
http://blogs.reuters.com/felix-salmon/2013/07/24/dont-send-summers-to-the-fed/
Scott Sumner, "Larry Summers is unqualified to be Fed chair,"
http://www.themoneyillusion.com/?p=22379
Bill McBride, "Janet Yellen for Fed Chair"
http://www.calculatedriskblog.com/2013/07/janet-yellen-for-fed-chair.html
Ezra Klein, "The subtle, sexist whispering campaign against Janet Yellen"
http://m.washingtonpost.com/blogs/wonkblog/wp/2013/07/19/the-subtle-sexist-w
hispering-campaign-against-janet-yellen/
Dean Baker, "Democracy Versus Bankers at the Fed"
http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/democracy-versus-bankers-at-the-fed
William Greider, "Stop Larry Summers Before He Messes Up Again"
http://www.thenation.com/blog/175372/stop-larry-summers-he-messes-again
David Dayen, "Larry Summers will destroy the economy (again)"
http://www.salon.com/2013/07/24/sexist_larry_summers_will_destroy_the_economy/singleton/
Yves Smith, "Why Larry Summers Should Not Be Permitted to Run Anything More Important than a Dog Pound"
http://www.nakedcapitalism.com/2013/07/why-larry-summers-should-not-be-permitted-to-run-anything-more-important-than-a-dog-pound.html
William Greider, "No More Second Chances for Larry Summers"
http://www.thenation.com/blog/175420/no-more-second-chances-larry-summers
Noam Scheiber, "Wait, Larry Summers Is Now the Favorite for the Fed? Can we at least talk it over first?"
http://www.newrepublic.com/article/114009/larry-summers-fed-chairman-over-janet-yellen
Mike Konczal,,"Should Obama pick Larry Summers to head the Fed?"
http://www.politico.com/story/2013/07/should-obama-pick-summers-to-head-the-fed-94765.html

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