Quote Of The Day: Larry Summers To Elizabeth Warren - "Insiders Don't Criticize Other Insiders"

A couple of weeks ago, Princeton and Northwestern released a very important study [9]that proved statistically what many of us already knew about the American political process. It is nothing more than an oligarchy.

It’s one thing to read an academic study showing how cancerous the political system is, it’s quite another to hear a description of how things work from one of the biggest crony weapons of mass societal destruction himself, Mr. Larry Summers.

A recent review in the New York Times [10]of Massachusetts Senator Elizabeth Warren’s new memoir “A Fighting Chance” [11] recalls a stunningly despicable quote by Summers. In the spring of 2009, when the banker handout, I mean bailout, was a heated topic of discussion, Elizabeth Warren attended a dinner with Mr. Summers who at the time was the director of the National Economic Council and a top economic adviser to President Obama. This is what transpired:

After dinner, “Larry leaned back in his chair and offered me some advice,” Ms. Warren writes. “I had a choice. I could be an insider or I could be an outsider. Outsiders can say whatever they want. But people on the inside don’t listen to them. Insiders, however, get lots of access and a chance to push their ideas. People — powerful people — listen to what they have to say. But insiders also understand one unbreakable rule: They don’t criticize other insiders.

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