It appears notorious bad trade deals, deregulation Larry Summers is staging a coup on who can influence overall economic policy and one of the toes he is stepping on is past Federal Reserve Chairman Paul Volcker>
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.
David Sirota, in Foxes in the Hen House has more.
Summers getting territorial?
Wall Street has infiltrated the President's Cabinet. They couldn't get their man McCain elected so plan B is to influence the presidency through Obama advisers.
McCain tried to stop the Buy American provisions
So one fact is assuredly in. If McCain had won the election we would right now be over the economic cliff and crashing down.