Maria has interviewed Larry Summers countless times and on Wednesday we met him in Washington. The setting: The White House – Eisenhower Executive Office Building. It’s always a pleasure walking up to 1600 Pennsylvania Ave NW and telling the guard you we have an “appointment”.
Our "appointment" was with Larry Summers, the Director of the National Economic Council who, along with the rest of President Obama’s team, was there and ready to sell President Obama’s plan to overhaul the financial regulatory system.
In their sit down one-on-one, the Director told Maria that if an "institution gets in trouble, it can be resolved, whatever size or type of financial institution it is."
When asked about the ratings agencies, Summers said that some practices are going to be adjusted. In fact, he said we may also "see some important regulatory reforms" within the industry on the horizon.
While reform was the focus of Maria’s interview with Summers, she also asked whether he was interested in Fed Chairman Ben Bernanke’s job. Summers told Maria ‘I am very focused on working with the president as head of the National Economic Council and that is my only focus.’ But keep in mind, Bernanke’s term doesn’t end until 2010.
Originally we were planning to broadcast “Closing Bell” right outside of the White House by the North Lawn but unfortunately the weather didn’t play ball.
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