(UPDATED LINKS) Why Janet Yellen Should Be Fed Chair: Background and a Petition
Update 9/12: Links to the petition fixed.
I write because the last two petitions on the White House We the People website asking Obama to appoint Janet Yellen instead of Lawrence Summers for chair of the Federal Reserve expired, so I created a new one here.
Why bother signing it?
- Sign it because you want the most qualified candidate with the best economic forecasting record to lead the Fed.
- Sign it because Yellen doesn’t have Summers’s financial ties to Wall Street.
- Sign it because Summers’s work to exclude financial derivatives from regulation shot the economy to hell.
- Sign it because tapping the good ol’ boys’ network is not how Obama should pick leaders.
- Sign it because Yellen worries more about unemployment (the poor) than inflation (the rich).
- Sign it because you think women have intrinsic aptitude at science.
- Sign it because you want to see a glass ceiling shatter.
Just sign it. Then share it. Everywhere.
If you have more than two minutes, write your senator and ask her or him to tell the Obama administration that she or he will not vote for Summers if he becomes the nominee. That goes double if your senator is one of the 22 on the Senate banking committee. (The nomination has to pass that committee first, and of the 12 Democratic senators on it, Elizabeth Warren, Jeff Merkley, and Sherrod Brown will likely vote against Summers should he become the nominee, which means Obama probably already needs Republican votes in committee alone. A decent description of the hurdles Summers would face is here.)