web analytics
April 19, 2015 / 30 Nisan, 5775
At a Glance
News & Views
Sponsored Post


Larry Summers Withdraws From Consideration to Head Fed

Summers removed his name from consideration, but the new chair of the Federal Reserve may still incite anti-Semites to scream about Jews controlling America's finances.
Larry Summers has removed himself from consideration to become the next chairman of the Federal Reserve

Larry Summers has removed himself from consideration to become the next chairman of the Federal Reserve

Was it all the negative articles in which the other front-runner for Federal Reserve Chair, Janet L. Yellen, was compared to Lawrence Summers and Summers was found wanting?  Was it that, plus the snarky articles pointing out that despite what some saw as Yellen’s superior credentials, that Obama was intent on naming Summers to replace Ben Bernanke as the head of the Federal Reserve?  Was it the remaining residue of sexism that plagued Summers when he was the president of Harvard University that finally caught up with the politically correct police guarding the gates in Washington?

According to the letter Summers released following his telephone call to the White House to inform the president of his decision, he wanted the job but recognized the deleterious sideshow that would ensue were the president to name the prickly former secretary of the treasury.

But timing was probably the decisive factor in Summers’ withdrawal.  Had the president not just gone through a bruising clash with the left wing of his party over the potential use of military force in Syria, which followed on the revelations of this administration’s sanctioned government snooping by the National Security Agency, the president might have pushed hard for his choice, and Summers might have been willing to take on whatever criticism would come his way in a confirmation hearing.  But this summer’s one-two NSA-Syria punch sucked out all the air from Summers’ sails.

“I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation’s ongoing economic recovery,” was what the 58-year old Summers wrote, according to an article posted to the Wall Street Journal website late Sunday afternoon.

The Federal Reserve system, which sets monetary policy for the country, is the central banking system of the United States.  The chairmanship of the Fed will be open after January 31, when the second term of the current occupant, Ben Bernanke, concludes.  Bernanke did not wish to continue for a third term.

Mr. Obama accepted Summers’ withdrawal, although it was widely believed that the former secretary of the treasury and president of Harvard University was the president’s first choice.

Obama described Summers as “a critical member of my team as we faced down the worst economic crisis since the Great Depression, and it was in no small part because of his expertise, wisdom, and leadership that we wrestled the economy back to growth and made the kind of progress we are seeing today.”

While Summers was the first Jewish president of Harvard University, he would hardly have been the first Jewish chairman of the Federal Reserve.

In fact, while the chairman of the Fed has been a Jew for more than the past 25 years, with Alan Greenspan at the helm from 1987 – 2006, and then Bernanke in the seat from 2006 until his term ends in early 2014, there have been at least three other chairmen who have been Jewish.  However, there has never been a woman chair, and the likely choice now for President Obama is Janet Yellen.

Yellen, 67 years old, is currently the vice-chair of the Fed.  She is also Jewish.

Is it likely the old anti-Semitic canards about Jews running the global financial market will start up again if Yellen is named?  No, because they never stopped. Enter the words “Jew” and “Federal Reserve” in a search engine and be prepared to see lots of hysterical rants from Jew-haters.

About the Author: Lori Lowenthal Marcus is the US correspondent for The Jewish Press. She is a recovered lawyer who previously practiced First Amendment law and taught in Philadelphia-area graduate and law schools. You can reach her by email: Lori@JewishPressOnline.com


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

13 Responses to “Larry Summers Withdraws From Consideration to Head Fed”

  1. Allen Piercy says:

    Boo hoo…You don't like it then leave.

  2. Matt McLaughlin says:

    No need to lie…your stat is enough. Now look up how jewish hollywood is.

  3. DawnWave says:

    You don’t hate a murderer, a liar, or a thieve because of their religious background.  You hate them because they murder, lie, or steal!!!

  4. Danny Jones says:

    Anti-semetic card, well played lori.

  5. perhaps the jew haters' heads will explode. i would pay to see that happen. and, say yay!

  6. V.P. Joe Biden, soon after assuming his post, said publicly: "I am a Zionist" Good for you Joe…I publicly say, I am not ! Because…

    I know too much history of the Zionists. Few research the subject, but should.

  7. Anonymous says:

    It's not that people hate jews so much as people hate what jews do. Any criticism of the disgusting behaviour of jews cops the "anti-semitic" canard. Well – if there were no semites and no semitic activity, there would be no anti-semitism.

  8. Anonymous says:

    I would like to know why the Federal Reserve is run by mostly Jews.

  9. Bull Winkle says:

    Canard? Let's see Greenspan, Bernanke, Yellen… Summers was going for it. As for World Bank & IMF, we've had Wolfowitz, Wolfensohn, Straus-Kahn. How can we continue to call this pattern a canard? They're only 2% of the population.

  10. Bull Winkle says:

    Of course she calls it a canard. Her name is Lowenthal

  11. Pan Mckracken says:

    …and the IRS and The treasury Dept. and the SEC? …Oh no but we are all anti-Semites….how convenient.

  12. Monty Ehrich says:

    Come on, my fellow Gentiles. Banking is too bloody boring for our lot.

  13. Jennifer Thomas says:

    Enter the words "Tony Romo" and "Dallas Cowboys" in a search engine and be prepared to see lots of hysterical rants from Cowboys haters!

Comments are closed.

Current Top Story
ISIS affiliates murdering Christian Africans in Libya
African Christians Slaughtered by ISIS-Affiliates
Latest News Stories
ISIS affiliates murdering Christian Africans in Libya

ISIS brutally murders African Christians, blaming Christians for Muslim murders throughout the world.

Hamas shows off its missile launcher hidden underneath a soccer field

The “Palestinians” have a long history of targeting Israeli athletes.

Democracy according to radical Islamic law.

The West grants the right to vote. Islamists want to take it away. Will they tell US Muslims not to vote?

Israel TV Channel 10 news reporter Miri Michaeli Schwartz on location in Paris.

An Israeli TV news reporter describes her experience with European anti-Semitism on the job and how it affected her.

PM Netanyahu warns that world powers are ignoring Iran’s increased aggression in the Middle East.

Childhood cancer rates in Haifa are much higher than in the rest of Israel, air pollution is blamed.

U.S. officials in the Middle East are on high alert after a Consulate was targeted in Iraqi Kurdistan by ISIS.

It is going to be a very windy Independence Day. Snow will fall on the upper slopes of the Hermon.

Newly-trained pilots at Turkish Airlines are being urged to marry in order to avoid tragedies in the air.

Bayit Yehudi wants the Religious Affairs Ministry, Yisrael Beytenu wants the Foreign Affairs Ministry, and both feel Netanyahu is trying to short-change them. It’s a match made in heaven.

The lives of Gaza residents under Hamas go from miserable to even more miserable.

Obama to maintain phased-in sanctions relief pegged to compliance; he’ll give Iran a huge signing bonus instead!

She is unconscious and on a respirator at Hadassah Ein Karem hospital.

Alfred Taubman, who helped shopping in the United States by developing malls, died of a heart attack while at home on Friday, He was 91. Taubman was known for philanthropy, especially in his native Michigan, where was a large contributor to the Detroit Institute of Arts. “Al Taubman changed the way America shops. But his […]

In the past, both Russia and Israel stopped their weapons sales to avoid excess friction between the countries. Not anymore.

Prime Minister Benjamin Netanyahu and his wife Sara visited on Saturday night the grave of Yoni Netanyahu, the leader and lone IDF casualty in the rescue mission at Entebbe in 1976. They visited the grave at the Mt. Herzl Cemetery at night instead of on Remembrance Day for the Fallen of Israel’s Wars this week […]

More Articles from Lori Lowenthal Marcus
ISIS affiliates murdering Christian Africans in Libya

ISIS brutally murders African Christians, blaming Christians for Muslim murders throughout the world.

Pollution in the Northern Israeli city of Haifa. April 15, 2015.

Childhood cancer rates in Haifa are much higher than in the rest of Israel, air pollution is blamed.

Obama to maintain phased-in sanctions relief pegged to compliance; he’ll give Iran a huge signing bonus instead!

First thwarted at the Israeli polls, now V15 funder’s “healthy” bars are also losers.

12 Christian Africans ‘thrown overboard’ by Muslim African migrants

Some American Jews continue lobbying Obama to more aggressively undermine Israel

Suspected vehicular terrorist attack in Jerusalem neighborhood; two seriously wounded.

The US is removing Cuba from list of state sponsors of terrorism. But Cuba’s recent BFF, Iran, doesn’t have such a clean record.

Printed from: http://www.jewishpress.com/news/larry-summers-withdraws-from-consideration-to-head-fed/2013/09/16/

Scan this QR code to visit this page online: