Archive for buh bye

BREAKING: Larry Summers is out of the running for Fed Chair


Janet Yellen - Larry SummersSo is Janet Yellen in?

Just a quickie, via an email alert from Fox Biz:

Former Treasury Secretary Larry Summers has withdrawn his name from consideration as the next Chairman of the Federal Reserve.

UPDATE: CNBC is reporting the same, as is the AP. I'm getting email alerts galore.

The Wall Street Journal just piled on. This comes via HuffPo:

According to the Wall Street Journal, Summers notified President Barack Obama on Sunday via phone call, and sent a letter shortly after.

"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," Summers said in the letter.

UPDATE: President Obama's statement in full via an email alert from Politico:

"Earlier today, I spoke with Larry Summers and accepted his decision to withdraw his name from consideration for Chairman of the Federal Reserve. Larry was 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. I will always be grateful to Larry for his tireless work and service on behalf of his country, and I look forward to continuing to seek his guidance and counsel in the future."

For more information...

buh bye by Kelly Kincaid


Dylan Ratigan is leaving MSNBC


Dylan Ratigan is saying good-bye to MSNBC on June 22nd. He planned this about three months ago, and Martin Bashir will be moving his show up an hour to Ratigan's old slot, but who'll be taking over at the Bashir spot? Starting on June 25th, several different hosts and contributors will, under the watch of Ratigan’s staff, who will create a brand new show. Audition time!

His contract expires this month and he got paid about $1 million a year, per some of his staff.

The New York Times' Brian Stelter:

Mr. Ratigan, whose news analysis show is now broadcast at 4 p.m. Eastern time, said in a telephone interview that he was electing to leave cable so that he could put into practice what he has talked about on TV. Mr. Ratigan has attacked political systems, corporations and special interests on his show and promoted movements for job creation, bank reform and campaign finance reform in the past.

“Once you’ve said your piece, you can either keep saying it — and then it’s a job, good job, pays well, everybody knows your name, it’s great — or you can decide what you’re going to do about it,” he said. “And the answer is, I don’t know. But I do know, in order to figure it out, I have to dismount.”

H/t: @42bkdodgr


Quickie- Tim Geithner "confident" he won't be serving a second term


Today's Quickie:

I'm glad he's so confident about this.

Via the L.A. Times:

Treasury Secretary Timothy Geithner says he's "confident" he won't be serving a second term, even if President Obama is reelected.

"He's not going to ask me to stay on, I'm pretty confident," Geithner told Bloomberg Television on Wednesday. "I'm confident he'll be president. But I'm also confident he's going to have the privilege of having another secretary of the Treasury.

That was today's Quickie. Was it good for you?


VIDEO: Breaking Up With Big Banks


It's true. It's over. We're breaking up, and we the 99% are taking custody of dignity and economic equality. It may be messy, it may be a little painful, but in the long run, it's so much healthier and we'll regain our self-respect.

I'm already flirting with a local credit union, and I plan on coming on really strong very soon. I'll be wearing Eau D'Occupy and very little else, wink wink.

America is Breaking Up! from Abraham Heisler on Vimeo.

Every year we hear about big bank executives being awarded multi-million dollar bonuses, even as these same big banks crashed the economy. This year, we won't let big banks use our money for these huge bonuses. That's why it's time to break up with the big banks.