By Hedrick Smith
Wall Street is used to getting its way in Washington, but for once it has been dealt a rebuff. The question now is whether President Barack Obama has gotten the message as he seeks a new chairman for the Federal Reserve.
Just a month ago, the president was stumping the heartland as champion of the middle class. But lately, he seems to have lost his way. His plan to nominate former Treasury Secretary Larry Summers as Fed chairman would have hurt the middle class and rewarded the financial elite by renewing Wall Street’s domination of U.S. financial policies.
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Tags: Op-Eds & Reviews