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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe left was right about Larry Summers
The left was right about Larry Summers all along. Democrats didnt listen
Long before the Epstein scandal, it was clear Summers was a viper. Clinton and Obama simply didn't want to know
By Andrew O'Hehir
Executive Editor
Published November 30, 2025 6:45AM (EST)
(Salon) In former Greek finance minister Yanis Varoufakis now-legendary memoir Adults in the Room, he recounts a conversation with Larry Summers, conducted in a Washington hotel bar late on a spring night in 2015 over (one imagines) glasses of excellent single-malt Scotch. The former Treasury secretary and Harvard president was, in effect, making the charismatic young radical a newly-minted official in Greeces left-wing government an offer of the sort youre not supposed to refuse.
Varoufakis had to choose, Summers suggested, between being an insider or an outsider:
The outsiders prioritize their freedom to speak their version of the truth. The price of their freedom is that they are ignored by the insiders, who make the important decisions. The insiders, for their part, follow a sacrosanct rule: never turn against other insiders and never talk to outsiders about what insiders say or do. Their reward? Access to inside information and a chance, though no guarantee, of influencing powerful people and outcomes.
If Summers sacrosanct rule was meant to sound sinister a decade ago, it carries considerably darker resonance today. As we now know and as numerous insiders no doubt knew all along Summers continued his longtime friendship with Jeffrey Epstein right up to the eve of the latters final arrest in 2019, asking the convicted sex trafficker for advice on how to cajole a younger female colleague into a sexual relationship. (Epstein valiantly volunteered to serve as Summers wing man in this quest.) Never talk to outsiders about what insiders say or do, it would appear, is also meant to apply to whatever those insiders get up to in private, not just to matters of state or the backroom shenanigans of high finance.
....(snip)....
At least thats the only possible explanation I can imagine. Because the truth about Larry Summers has been obvious, or at least should have been, for many years. That did not prevent him from being one of the most dominant figures in global finance and economics, or the leading apostle of the disastrous worldwide gospel of deregulation and privatization now known as neoliberalism. It didnt prevent Bill Clinton, Barack Obama, Harvard University and any number of investment banks, hedge funds and corporations from swooning at Summers sermons on austerity which invariably confirmed their prior assumptions that wealth was virtuous and virtue led to wealth and offering him second, third and fourth bites of the apple.
....(snip)....
Progressive economists, feminists and environmental activists have been calling out Summers as an intensely toxic force in both politics and finance realm for years. For that matter, his parasitic or symbiotic relationship with Jeffrey Epstein has been a matter of public record since at least 2003, when the Harvard Crimson earned his eternal enmity by reporting on it. He has survived multiple damaging scandals and found his way back to power every time, like a wily Renaissance courtier or an unkillable horror-movie villain, and may well survive this one. ....................(more)
https://www.salon.com/2025/11/30/the-left-was-right-about-larry-summers-all-along-democrats-didnt-listen/
Ritabert
(1,875 posts)He's always been predictable: crony capitalism: good....socialism: bad.
UpInArms
(53,828 posts)He promoted a rightwing tilt to economics
Never understood his allure
Prairie Gates
(6,943 posts)And plenty of other neoliberal shitbags as well!
rampartd
(3,232 posts)Dr. Shepper
(3,198 posts)Campaign and got tickets to the final night of the convention when he was formally nominated. I was so excited to listen to his memoir. But when he got to the Larry Summers part, I just couldnt finish the book. His nomination was such a disappointment.
PatSeg
(51,631 posts)here on DU when Summers was nominated. I don't think anyone on the left actually trusted him. He certainly was no Jared Bernstein.
edhopper
(36,928 posts)Summers convinced Obama not to do more aggressive Bank reform.
betsuni
(28,579 posts)"Larry [Summers] and Christy agued that in light of mounting losses at Citigroup and Bank of America, it was time for us to consider preemptive nationalization -- the kind of strategy that Sweden had ultimately pursued when it went through its own financial crisis in the 1990s. ... In response, Tim pointed out that Sweden -- with a much smaller financial sector, and at a time when the rest of the world was stable -- had nationalized only two of its major banks as a last resort, while providing effective guarantees for its remaining four. An equivalent strategy on our part, he said, might cause the already fragile global financial system to unravel ... .. ... Some on the team suggested that we at least take a more aggressive posture toward Citibank and Bank of America. ... (I would later invite two groups of outside economists -- one left-leaning, the other conservative -- who'd publicly questioned our handling of the crisis to meet me in the Oval, just to see if they had any ideas we hadn't already considered. They didn't.)"
From "A Promised Land"
Obama says if he went back in time he'd make the same choice because nationalizing banks, stretching the definitions of criminal statutes to try to prosecute bankers, letting the big banks collapse might've made things much worse, "Worse for the very folks I'd be purporting to save." He wasn't going to take that chance.
Kid Berwyn
(22,468 posts)And they arent just pals of Epstein.
popsdenver
(1,241 posts)has come up many times in discussions about his tight relationship with Epstein.......
Same with Bill Gates..........whose wife hinted at the fact that she had told her husband many times over five years to quit associating with Epstein....which he didn't, according to her, and she finally divorced him.
You can be sure that Epstein's customer list included a number of Dems........
valleyrogue
(2,494 posts)in any way.
Epstein knew a LOT of people, and those relationships had nothing to do with his criminality with children.
Innuendo or "guilt by association" ISN'T evidence of anything.
jfz9580m
(16,247 posts)https://crooksandliars.com/2025/11/now-were-pretending-larry-summers-hasnt
I am very pleased about this development
Thanks for posting that. OHehir is always a fun read.
(And I owe him and Marcotte a personal debt of gratitude for pulling me out of a craven flight offline entirely rather than staying merely anonymous and far from The Spectacle. Yasha Levine educated me about the latter concept. That was when I realized what I was afraid of. I owe a tremendous debt to a collection of lefty voices for the fortitude to weather Trump 2.0).
slightlv
(7,164 posts)He'd be just another fish among them all. By putting himself out there as a centrist new Democrat. Neoliberal he's a big fish in a little pond... although that pond is growing... and it will be to the harm of the party. If we wanted RINO policies we'd be GOP. The democrats have to get back to their FDR roots if they want the people's trust again. Stop playing the austerity game with our lives and propping up the rich. I love Obama, but I sincerely hope he's the last Neoliberal we have as president. But I'm a long time progressive so I guess I'm on an opposite side of most people. Although it seems progressives are making a comeback.
But I'm a long time progressive so I guess I'm on an opposite side of most people. Although it seems progressives are making a comeback.
I dont think so. I think you (and I) are merely on the opposite side from most people with money and influence. It is madness to shift to the center on account of Trump imo. It will be infuriating if MTG or Hawley runs as a populist opposite to a centrist dem and wins.
GiqueCee
(3,117 posts)... was, and always will be an irredeemable piece of shit.
FoxNewsSucks
(11,473 posts)As always.
Iraq, medicare, regulation, on and on and on and on. "The Left was right"
You'd think someone would notice and act accordingly. But even the Democratic Party and many Democratic websites push "the left" away and take our vote for granted.
leftstreet
(38,577 posts)yardwork
(68,699 posts)I've always loathed Larry Summers.
thought crime
(1,067 posts)Even if it bears the stamp of Varoufakis' embellishment, the mention of "their version of the truth" and the "sacrosanct rule" of the insiders reflects an attitude we are all familiar with. Summers really was a chief enforcer of that rule and one who worked to capture any rising stars, for the safety of the flock.
intheflow
(29,914 posts)The Democratic Party sidelined us for my entire adult life - since Reagan. And thats how we got this fascism. Im glad the party is waking up again.
Bluetus
(2,052 posts)There have probably been others, but the progressives have been correct almost every time.
That really isn't saying much: those who think we should put up a fight against the fascists are correct more often than those who refuse to take a stand on anything. It is a low bar.
jfz9580m
(16,247 posts)Didnt he? That does change the personality..any kind of damage to the brain.
E.g.: Someone who was fairly assertive may become relatively more docile/pliant and so on..
Bluetus
(2,052 posts)In a normal world, we should never have elected somebody with his medical condition. But the candidates the GOP has been offering up are just terrible in many cases. This was very much a lesser of evils scenario. But he should have been removed from office by now because of his obvious problems.
Bluetus
(2,052 posts)It explains Jeffries versus AOC. It explains Cuomo versus Mandani. It explains Martin versus Hogg.
Unfortunately it means that we don't just have to overcome the Trump regime, but we also have to get past the Dem Insiders club. And the sad thing is that the insiders just don't care that much. Clinton has his foundation. Obama has his legacy. Martin has his convention regulars, and all the political consultants who are actually more valuable when we are out of power than when we are in power.
jfz9580m
(16,247 posts)That insiders crap was terrible wasnt it?
Its histrionic and cliche. Was he twirling his moustaches while saying it?
Who talks like that? How are these morons even our evil elites?
I demand better dialogue from our evil elites! If they are running roughshod over us all, we should at least get higher quality shit than crap
reminiscent of the type of movie script I would scoff at as unrealistic.
Summers really was a pustule.
And dont get me started on his even creepier side
.
That shit is why I am a card carrying MeToo supporter. Fortunately, even at the worst school I worked at, I never came across this type of creep.
They exist even in academic science sadly (Walter Lewin, Geoff Marcy, Kanury Rao, Giridhar Madrass etc), but I have been fortunate enough to not come across them.
Thankfully, most academic scientists (in the natural sciences anyway) are pretty implicitly feminist in my experience. Dr Fauci or Francis Collins are closer to the norm than this type of ghastly person. Typically understated and thats easier. I like my woke and feminist understated. The same way I feel gleeful when the right or centre is this much of a chestnut bts.
Economics is right leaning as a field..less reality based..it really is all of a piece. I remember thinking even back when he made those comments about women in science But you dont even work in a real science. You are a damn economist.
ismnotwasm
(42,661 posts)We were
BlueTsunami2018
(4,792 posts)They arent leftists by any means. Theyre capitalists, ruling class enablers, and thats why Summers was in there, to promote the interests of his class.
Until we figure out that we need to rid this party of these insiders and get back to representing the working class, were never going to solve any of these problems.
choie
(6,477 posts)n/t
Sneederbunk
(17,069 posts)yellow dahlia
(4,086 posts)Something about him - what is it? Pompous? Disingenuous? Arrogant? A basic ewww! Why did he get so much cred?
progressoid
(52,417 posts)because we voiced our opposition to Summers. And that was just because of his economic policies.
Joinfortmill
(19,705 posts)there doesn't seem to be any 'there' there. Also, now we're bashing Obama? Really?