U.S. President Barack Obama may be a few months, he picked replacement Chairman Ben Bernanke at the Fed announced, but critics have already made an unusual public effort to stop a competitor in the race - former U.S. Treasury Secretary Lawrence Summers.
Outcry is not from the Republican Party, the Democratic Party's left wing. Summers suggested Obama, former President Bill Clinton, Secretary of the Treasury to lead Harvard University and the World Bank's chief economist. He tamed under Clinton threatened to the Asian financial crisis sweeping the globe.
However, the Liberals accused him of leading financial deregulation, creating a financial crisis and said his work in the hedge fund DE Shaw makes him the epitome of Wall Street and the revolving door between the government, they charge to help.
Summers, who wrote an opinion column Reuters a representative declined to comment for this article, as the White House and the Federal Reserve.
Some powerful Democrats, including former finance minister and one-time CEO of Citigroup's Robert Rubin, Summers has been talked about behind the scenes, according to several sources close to the White House and the Federal Reserve or.
If Obama thread Summers, he will pick him more than the current Fed Vice Chairman Janet Yellen (Janet Yellen), who is seen as the other major candidates.
Yellen and Summers are expected to hew fairly close to Bernanke's policies curriculum.
Summers's supporters believe that he should have an edge, and his experience in crisis management.
Brad DeLong says Professor at the University of California: "When there is a consensus that the Fed chairman is almost no problem, it is very important, when you have rules, then his strengths shine era", Berkeley, who has worked with Somerset Sri Lanka in the Clinton Treasury Department.
According to aides, Senate Democrats who oppose him, wrote a letter urging Obama to choose who has been the Fed's efforts, the use of unconventional monetary policy to stimulate the weak U.S. economic recovery, the main force, Yellen. Yellen will be the first woman in charge of the central bank.
Ohio Democratic Senator Sherrod Brown revolving credit, aides said. It is unclear how many senators signed, but some Democrats have been in favor of and against Summers said Yellen out.
"I'm Janet Yellen, I took this position," Iowa Democratic Senator Tom Harkin told Reuters reporters.
Brown, a spokesman did not respond to a request to review the message, the Fed spokesman said Yellen declined to comment.
Bernanke Central Bank at the helm of a second four-year term will be held January 31, 2014 expiration. Although he did not discuss his plans, it is widely expected that he will step down.
Some critics do not know why Obama Summers may become a woman, a man has been accused of sex discrimination. Summers as president of Harvard University suggests a relatively small inner qualifications achieved may explain why women in math and science of the highest academic posts - comments he later apologized, caused an uproar.
"Appointment of Women presidency record was mediocre at best," said Greg Lyle ━ Valley, on the Potomac Research Group's chief political strategist, in a note to clients said. "So, there is a brilliant female candidates to replace Ben Bernanke, Fed highly respected for her - Obama will appoint people will never live up to his opinion, women's lack of some university posts in it?"
The regulatory concerns
When he served as Treasury chief in the Clinton era, Summers helped clinch the law, the revocation of the Great Depression era Glass - Steagall Act, separating investment and commercial banking, deposit-taking institutions.
Open the door to commercial banks involved in high-risk financial products, such as credit default swaps are financial crisis in 2007-2009 the heart.
Moveon.org, while Obama's presidential campaign provides the main support for the liberal group, circulated a petition entitled: "Do not let Summers head the Fed," accusing him of laying the foundation of a deep U.S. recession .
Senate Banking Committee members Jeff Merkley, a Democrat from Oregon, told Reuters correspondent, he will find a 提名萨默斯 "troubling."
"A lot of issues need to ask and answer questions about his philosophy of regulation and deregulation," he said.
Summer tend to do?
Closely with the Obama administration who says he has reason to believe the president is closely consider Summers, and even tend to him. The sources said that Obama may view the relationship between Wall Street Summers and crisis management experience important attributes.
At the same time, think the Fed insider said that the staff and board member of a number of central banks, the Summers are often blunt, may be a policy is not conducive to the formation of consensus-driven central bank.
These sources requested anonymity to discuss the sensitive nature.
Yellen has been runaway favorite to replace Bernanke financial market participants media polls, but analysts say there is a close relationship Summers, Obama's advantage.
He also has powerful supporters.
"Ginning up support for his allies have made clear that his interest - this is the kiss of death." If you want the main work in this town, you have to be shy ━ Wali Lyle said.
A person familiar with the nomination process that Obama has not yet decided. The announcement is expected to wait until this fall.
 



Other News:
Opposition mounts to Summers as possible Fed chief
Danone says Morocco unit lifts profit
USDA says China stopping imports of Arkansas fowl
Boeing requests worldwide checks of Honeywell beacons
Egypt braces for rival rallies, army signals crackdown
Barclays to sell shares to fill big capital hole
At least 36 dead after coach plunges off viaduct in Italy
Samsung's 2Q profit record high but below forecast