I know, I know, it's dizzying, the “transition team” news swirling about now. Someone's going to be taking a position in the Obama team, then they're not, then they are again, there's a lot of Clinton-era hacks returning to the fold (what a change!), etc. There's also some good news in there, such as that Obama might actually pick a real environmentalist to run the EPA. Can't complain about that one.
Now, there's a lot of rumors, and I suspect some are based in fact, some are perhaps “testing the waters” and some are complete b.s. Matt Stoller at Open Left has been keeping his eye on one of the rumours, that of Larry Summers as Treasury Secretary. Not good.
Stoller:
Summers was one of the key proponents of the banking deregulation of 1999 that led to the current financial crisis. In addition, Larry Summers has argued that women are innately less gifted in science than men, that 'Africa is Underpolluted', that child sweatshop work in Asia is sometimes justified, and that job destroying trade agreements are good for America.
People get stuff wrong all the time. That's not bad. But if you got the big stuff wrong, repeatedly, while being warned against it, you shouldn't be rewarded with a promotion.
And then there's this:
More important is Summers' close relationship with (some would say protection of) Andrei Schleifer. Schleifer is another brilliant economist who seemed to think that his brilliance allowed him trade tens of millions of dollars of Russian stocks while directing the pace and direction of Russian privatization. The US government sued Schleifer and Harvard University (where Schleifer holds a professorship and which held the USAID contract under which Schleifer worked) for fraud. Harvard settled the lawsuit and paid several million dollars to the government.
And who was President of Harvard when the university decided to settle the lawsuit? Larry Summers. It is not unreasonable speculation that Harvard settled the lawsuit the way it did in order to protect the friend of the President. It's also not unreasonable to suggest that this, not anything about public statements, was the cause of Summers' downfall from the Harvard Presidency.
And Matt just put up a recently-obtained very friendly letter from Summers to Enron's Ken Lay, too.
Now, Matt started a petition drive to the Obama transition team here in regards to saying no to Summers. I never have figured out if those things make a difference but what the hell, it can't hurt. We know Obama can talk the talk. But as James Brown's late guitarist, Bobby Byrd once sang, “Sayin' and doin' it are two different things.” He needs to walk the walk on this 'change' stuff. Some of us are actually paying attention to something besides the rhetoric.
Now, I know these things are rumours, there may be nothing to it at all. But it may also be a trial balloon, and if it is, it's important to hold the Obama team's feet to the flames and pop that balloon. Crushing the right wing was only the beginning of the hard work. There's still the corporate wing of the Democratic party to be reckoned with, and that's a bit more difficult.
There's a silly poll for you below the jump.