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Summers’s Critics Distort His Regulatory Views

Aug. 6 (Bloomberg) -- A lot of public discussion takes place before the president nominates a new Federal Reserve Board chairman. This time, that discussion has gotten unusually heated.

Continuing economic difficulties are one reason. Another is that Lawrence Summers, a top candidate, is a larger-than-life figure -- unusually well-known and widely admired, but in some circles controversial. The paradox is that those who know him best, and who have worked with him most closely, are his biggest supporters -- and that the objections are coming largely from those who know him little or not at all. (Disclosure: Summers is a colleague and a friend, and I co-taught a course with him last spring.)