The Bishop and the Butterfly: Murder, Politics, and the End of the Jazz Age
    Michael Maiello's picture

    Jerks For Cads (Rattner Prefers Summers)

    By Michael Maiello on Sat, 08/03/2013 - 9:11am | Politics

    Last week I had a little stint guest blogging for Esquire while the unstoppable Charles Pierce took a vacation.  On of my topics was the Larry Summers for Fed Chair debate and my take was that even if you really, really like Larry Summers there's nothing about him that makes him so singular a talent that he and only he should run the Fed. Summers faces opposition from Wall Street, Congressional Democrats and prominent women, among others.  In the face of that, and given the presence of Federal Reserve Vice Chairman Janet Yellen as a perfectly qualified candidate, why all the emotional and mental energy spent on Summers?

    The answer, of course, is that he has friends in high places.  One of those friends, according to his column in this morning's Times is Steve Rattner.  Rattner is, by most accounts (well summarized here by Gawker) a huge jerk.  He's such a jerk that he has hired consultants to teach him how not to come off as such a jerk.  People do not like him.

    That is also, in many ways, the knock on Summers.  Both men are capable, smart, ambitious people who have hurt and offended others, often needlessly, in pursuit of whatever it is they happen to have been pursuing at the time.  Summers casually dismissed the scientific and mathematical abilities of an entire gender at Harvard. Rattner clashed frequently with other partners back when he was at Lazard and then used a kickback scheme to win an investment from the New York State Pension funds for the private equity firm he founded after leaving the bank.

    In his piece, Rattner argues in favor of Summers' abrasive style, saying that he enjoys it, even when working for the guy.  What he doesn't do is argue why Summers is more qualified than Yellen or any other number of people who could chair the Fed.

    Instead, I see a defense of gruff behavior among the powerful or those who would aspire to power.  This is a cultural argument.  This is the "super man" argument for why some great people are exempt from conventional morality.  It isn't an argument for why a certain guy should run the Fed.

    Oddly, we have no insights at all about Yellen's interpersonal skills.  Those aren't being debated.  Instead, we're asked to take Summers in spite of his flaws.  As for Summers vs. Yellen on the skills, it has to be considered a draw at best.  Nobody who argues for the genius of Summers can argue against the genius of Yellen (or, if they can, they haven't).

    The Summers support is cliqueish.  The clique is full of jerks.  Obama should end this now.  I think Yellen is a better choice but even if I'm wrong, she's at least as good. Why fight the uphill battle just so that the privileged Summers can get the job he wants?

    Topics: 
    Politics

    Comments

    Funny how "not likeable" and "coworkers say she's abrasive" never works the same way for prominent women appointees (for example, see the conversation around Sonia Sotomayor's appointment in 2009 to the SC).  You have to admire the brazenness of the jujitsu move, here, though:  "yes, Larry Summers is a dick, but that's a HUGE ADVANTAGE!"

    But maybe it's not so surprising that dicks like to stand up for dickish behavior & want to see it rewarded.


    by Historiann on Sat, 08/03/2013 - 12:19pm

    In some ways (not nearly enough, IMO) the rewards for dickish behavior have eroded as society has evolved.  Don Draper in 2013 is more a liability than an asset. Rather than adapt, some people (men and women) have circled the wagons around the old ways.


    by Michael Maiello on Sat, 08/03/2013 - 12:27pm

    "Summers casually dismissed the scientific and mathematical abilities of an entire gender at Harvard. " reminded me of this:

    As of Summers v. Yellen, I wonder who Goldman wants because Goldman tends to get what it wants.

     


    by EmmaZahn on Sat, 08/03/2013 - 12:24pm

    Girls suck at sports too.

     

     


    by ocean-kat on Sat, 08/03/2013 - 4:40pm

    That was an amazing catch -- for anyone.


    by EmmaZahn on Sat, 08/03/2013 - 5:07pm

    Tuning into the debate what I am hearing is that Yellen has expressed behavior that recommends her and Summers had definitely expressed behavior that has people arguing against him.  Perhaps they are equally qualified to some degree but so far it sounds like Yellen is better qualified at maintaining balance while Summers has a reputation of being all for Wall Street.    Senator Warren is endorsing Yellen as a pick over Summers which again lends the idea that Yellen is more balanced. 

    It doesn't make sense to me at all that Summers be appointed.  A Fed Chair must be very measured in everything they say to the public and Summers has demonstrated that he is not capable of that.  Passing over Yellen makes no sense at all to me. 

    I would have to agree that his appointment would be evidence of the elevation of the 'dick' club.


    by synchronicity on Sat, 08/03/2013 - 4:49pm