When the Chairmen of the Fed speaks, it affects financial markets around the globe. Larry Summers is a man who publicly questioned women’s aptitude for higher math and science. He opposed any regulation of risky investments such as derivatives. He authorized Harvard to buy $3.5 BILLION of derivatives when he was President of Harvard. By 2008 Harvard had lost ONE BILLION DOLLARS on this investment. The failure of the derivatives market was one of two main causes of the Recession of 2008. He also pushed to repeal the Glass-Steagall Act, which was a second major cause of the 2008 Great Recession.
The President should NOT nominate Larry Summers, who is a sexist male and a very risky investment for the Fed.