Larry Summers

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Paulson: We're Doing the Right Thing

Bush administration 'creatively working' on financial crisis

(Newser) - On the eve of his testimony before Congress, beleaguered Treasury Secretary Henry Paulson used last night's speech to defend the administration's response to the nation's "unprecedented" financial crisis. Paulson said without the $700 billion Wall Street bailout, things would be even worse, ABC News reports. "It's hard to...

Summers May Be Off Short List for Treasury

Women's groups oppose selection after flap over science ability

(Newser) - Picking Larry Summers to run the Treasury might be too provocative. Politico reports that the swelling backlash among women's groups—over his notorious comments at Harvard about women’s abilities in math and science—is seriously sinking his chances. Even a Senate confirmation could be dicey. “While it wouldn’...

Cohen: Gore for Secretary of State

Columnist lists his picks for Obama's cabinet

(Newser) - If Barack Obama wants to make good on his promise of change, he should start by nominating Al Gore for secretary of state, Richard Cohen suggests in the Washington Post. Earth’s “custodian” has worlds of government experience—and “can you imagine a bolder statement about a new...

Summers Vs. Geithner for Treasury Chief

Democrats divided on pick

(Newser) - The top candidates to become Treasury secretary, Larry Summers and Timothy Geithner, have Democrats split, and Politico looks at the resumes of both. Summers is a brilliant economist and close Obama adviser, but hardly smells of change, having backed deregulation and free-market strategies as Clinton’s Treasury chief. He's supposedly...

Rubin Won't Take Treasury Post
 Rubin Won't Take Treasury Post 

Rubin Won't Take Treasury Post

Decision paves the way for another former Secretary, Lawrence Summers

(Newser) - Former Treasury Secretary Robert Rubin, a top economic adviser to Barack Obama during the campaign, will not reprise that Cabinet role in the new administration, Bloomberg reports. “I've spoken with him and told him I'm not interested in going back into government,” Rubin said today. His denial boosts...

Obama Gets Down to Business
Obama Gets Down to Business 

Obama Gets Down to Business

Treasury chief may be announced today as transition gears up

(Newser) - The Barack Obama team is swiftly dismantling his presidential campaign network and getting the framework in place for the transfer of power, the Washington Post reports. Economic issues are taking priority and the president-elect may announce his Treasury secretary as soon as today. Sources say New York Fed Chief Timothy...

World Money Chief Calls for Global Action

IMF head foresees widespread slowdown, backs US stimulus

(Newser) - With a global recession looming, the head of the IMF has warned bankers meeting in Davos, Switzerland, that lower interest rates alone won’t avert a crisis, the Financial Times reports. Dominique Strauss-Kahn called on governments to follow the US in easing fiscal policies, reversing a quarter-century of emphasis on...

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