#1 Volcker Chafes at Obama Panel Delay, Strains With Summers Rise
02-05-2009, 06:18 AM
- Join Date
- Nov 2008
By Robert Schmidt and Julianna Goldman
Feb. 5 (Bloomberg) -- Paul Volcker has grown increasingly frustrated over delays in setting up the economic advisory group President Barack Obama picked the former Federal Reserve chairman to lead, people familiar with the matter said.
Volcker, 81, blames Obama’s National Economic Council Director Lawrence Summers for slowing down the effort to organize the panel of outside advisers, the people said. Summers isn’t regularly inviting Volcker to White House meetings and hasn’t shown interest in collaborating on policy or sharing potential solutions to the economic crisis, they said.
While Summers, a former Treasury secretary, oversees the official White House economic policy apparatus, Obama tapped Volcker for a new Economic Recovery Advisory Board charged with injecting fresh, outside ideas into policy debates.
02-05-2009, 10:44 AM
- Join Date
- May 2008
Looks like Obama/Summers is throwing Volcker under the bus. His ego has gotten bruised so now the old bird is pissed. Hey Volk, you got played for a fool by the Magic Negro.
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