Right now, the rumors are that Larry Summers is the choice for the Treasury Secretary post. As Dean Baker suggests, this would not be a good thing.
It would be a really bad start to his administration if President Obama picked a Treasury Secretary who shares a substantial part of the blame for the bubble economy and the financial crisis. It will not be easy to pick up the pieces and get the economy back on its feet, but we would be going in the wrong direction to put one of the people responsible for getting us in this mess in the top economic position in the Obama administration.
People get stuff wrong all the time. That's not bad. But if you got the big stuff wrong, repeatedly, while being warned against it, you shouldn't be rewarded with a promotion.
I set up a petition here, and I'll be sending the comments onward to John Podesta and Michael Strautmanis of the Obama transition team.
STATE BLOGS
