"I am a strong supporter of Janet Yellen and believe her support for the fiscal and monetary policies best designed to produce a stronger, prompter recovery from the Great Recession makes her the superior replacement for Ben Bernanke."
"Obama’s lead non-economists were austerians who denigrated fiscal stimulus, were terrified by the deficits, and eager to cut the safety net. Over time, they became Obama’s dominant economic advisors even as their predictions consistently proved false. Obama supported them because he shared their dogmas. As I explained in a recent column, Obama’s six senior economic advisors are unreconstructed Rubinites who share the President’s economic leanings."
"I have many disagreements with Summers about regulation, but the idea that Obama is getting his advice on fiscal policy primarily from fellow-lawyers and unreconstructed Rubinites like Jacob Lew rather than economists like Summers should terrify the Nation (and the Democratic Party). It is, once more, the task of the non-Wall Street wing of the Democratic Party to save the Nation and the Party from Obama. We need to save Obama from his vain quest for greater historical fame, particularly now that his Nobel Peace Prize has become the defining example of the concept of irony."
~ William K. Black, September 19, 2013, New Economic Perspective