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The US Economic Outlook with Lawrence Summers

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Lawrence Summers Slams Banking Lobby, Calls for Reform

02 min 27 sec

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Lawrence Summers, Director of the U.S. National Economic Council, laments the financial lobbyists on Capitol Hill, where they outnumber members of congress 3 to 1.

"Our challenge now is to put in place a new system," he says, "that will hold and substantially reduce the risk of crisis for a generation."
Summers to Big Banks: Cash for Bonuses, None for Lending?

02 min 34 sec

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Lawrence Summers berates big banks for the hypocrisy of handing out large corporate bonuses while reducing lending and protesting government fees.

"I don't understand how you can logically maintain that paying out bonuses in large quantity has zero effect on lending," he says.
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51 min 49 sec

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There are 5 comments on this program

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Previous FORAtv comments:

keenhumor

Posted: 02.13.10, 09:08 PM

Yes. Charlie Rose, what a dissapointment! It seems he has not being watched the news lately. He did ask some good questions, but forgot very critical ones. And this Summers guy (I handn't heard him speak before), he is either an idiot or a farce --in any way, an awful speaker. How could Charlie Rose not comment on the fact that the "Volcker Rule" is essentially like the Glass-and-Steagal famous law passed after the crisis of 1929(impacting the period which he commented, post WWII, which had many less financial crises). This law, fundamentally, separated investment firms from commercial banking. Now, Summers helped repeal that law during the Clinton administration in 1999. How could get go on, totally shameless, on TV!, not realizing people know what he did?!

nikonwilly

Posted: 02.10.10, 11:14 AM

Cutestain, you are 100% correct with your statement. Summers has a massive conflict of interest as do most of Obama's cabinet picks, it reads like roll call on Wall street. Obviously nothing is changing.

cutestain

Posted: 02.08.10, 10:59 PM

Larry Summers has no room to criticize anyone on Wall St. He is a huge part of the problem and does not belong in any Administration. Shameful that he is part of the government, regardless of anything he says. Past (and consistent) actions speak much louder than any words.

flash dave

Posted: 02.08.10, 09:46 AM

I quite like Charlie Rose, perhaps this setting is less than ideal for him.

Calorus

Posted: 02.07.10, 03:58 AM

Charlie Rose is a uniquely awful interviewer - It's like a pointless pastiche of the BBC's Jeremy Paxman. He constantly talks over people without paying attention to their answers, but instead of forcing them into answering, he simply renders their responses inaudible.