Video: Summers on CNBC with Erin Burnett -- Feb. 9, 2010
Kudos to Burnett for asking the important questions regarding growth in government spending, entitlements, and pensions. Solid discussion.
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Larry Summers loves the biggest banks best:
"The president’s been emphatic on what have been the excesses of the financial sector — irresponsibility, innovation that served no real purpose except the exploitation of customers — and that’s why the president’s pushed so hard for strengthened financial regulation.
Look, a healthy financial system is crucial to a healthy economy, but we don’t need the kind of hypertrophy that we’ve seen in the financial system in recent years. "
We’re certainly emphasizing regulating the bankers now, not supporting the kind of irresponsible growth that we saw historically."
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(Screenshot...video is above)
