QOTD: Larry Summers on Greece

Larry Summers, the acclaimed Master of Disaster himself, has seen fit to weigh in on the Euro Mess.

And while we must never forget Larry’s role in ushering in the Age of Unquantifiable Shadow Banking and the Freedom from Responsibility in Derivatives Act, we can’t blame the guy for wanting to throw on the tuxedo and step out in style every now and then.

But the former White House economic adviser and current “venture capitalist” Summers does give good quote.  Here he is weighing in on the half measures and stuttering incrementalism that is currently crippling Europe’s economy:

Referring to Greece, Summers said, “We are discussing a broken ankle in the presence of organ failure,” he said. “If a generous sovereign from Mars paid off Greek debt, the fundamentals of Europe in crisis would not be altered.”

Summers has now styled himself as “The Paul Revere of the Global Economy” according to WSJ’s David Wessel.  How nice for all of us.  If only we had a Paul Revere back when Larry was running the show and presiding over the end of Glass-Steagall, the Commodities and Futures Modernization Act, etc…


Summers Casts Himself as Paul Revere of Global Economy (Real Time Economics)

Further laughs…

The Case Against Larry Summers (The Big Picture)

On May 21st Senor Summers said tech investment and venture was a bubble:

Bullish Item of the Day: Summers Now Sees a Tech Bubble (TRB)

And then on July 5th Larry took a job in the tech bubble as some kind of ambassador for a venture capital firm:

Summers in Ventureland (TRB)






This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. facebook old design commented on Sep 25

    … [Trackback]

    […] Read More here to that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  2. trade coin gordon commented on Sep 30

    … [Trackback]

    […] Find More here to that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  3. 사설토토 commented on Oct 18

    … [Trackback]

    […] There you can find 20466 additional Info to that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  4. lindenhvac.com commented on Oct 19

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  5. cheap wig store san diego commented on Oct 23

    … [Trackback]

    […] Find More Info here on that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  6. flexiblefixturing.com commented on Oct 24

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  7. best travel apps commented on Oct 29

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  8. tangerine bank online commented on Nov 26

    … [Trackback]

    […] Here you will find 98878 more Information on that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  9. sell cvv commented on Dec 23

    … [Trackback]

    […] Information to that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  10. Indesit IWC 7128 (WE) manuals commented on Jan 21

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]

  11. lace front wigs posted on Jan 24

    … [Trackback]

    […] Find More on on that Topic: thereformedbroker.com/2011/09/24/qotd-larry-summers-on-greece/ […]