Obama's scolded for picking Larry Summers; Abe Foxman's scolded for picking at Bill Moyers
Bill Moyers talks with two Times reporters last September about Wall Street's meltdown.
Almost lost amid the usual knee-jerk preaching to the choir that is the 21st century Nation are a couple of excellent stories — one of them scolds Barack Obama for relying on such dubious characters as economist/erstwhile Harvard prexy Larry Summers, and the other roasts Abe Foxman of the Anti-Defamation League.
In "Never Say You're Sorry," Christopher Hayes points out the clay feats of Obama economic-world appointees Summers and Gary Gensler.
In "The Defamation League," Eric Alterman takes Foxman to task for the latter's astonishing blast at Bill Moyers, who had the audacity to suggest that Palestinians are people, too. (See Foxman's rip and Moyers's response.)
Really juicy in Alterman's piece is this passage:
Hmmm...Kristol has exited the Times's op-ed page. He probably wanted to pursue other opportunities.
Hayes's lively piece on Obama's appointees even throws in a couple of apt sports metaphors. More importantly, Hayes dredges up some valuable history regarding both Gensler and Summers.
In doing so, he doesn't spare the Clinton Administration from its disastrous destruction of the Glass-Steagall Act, a strict banking law from the last Depression that, had it remained in place, would probably have prevented Wall Street from creating the current Depression.
Also see Frontline's "The Long Demise of Glass-Steagall."
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