President Obama: Break Up the Old Boys' Club and Appoint Janet Yellen

President Obama: Break Up the Old Boys' Club and Appoint Janet Yellen

UPDATE: After pressure from leadings economists, activists and members of Congress, Larry Summers has withdrawn his name for consideration for the chairmanship of the Federal Reserve. This clears the way for President Obama to make history by nominating Janet Yellen, who would be more likely to use the position to focus on the critical task of addressing our nation's longstanding unemployment crisis. 

After Senate Democrats sent President Obama a letter urging him to appoint Janet Yellen head of the Federal Reserve, White House officials expressed annoyance with the pressure pundits and politicians are putting on the President regarding the decision. 

However frustrated the President may be, our country's economy depends upon us not being silent. Rumors are circulating that Larry Summers could get the job, despite the fact that he has yet to show any regret over enthusiastically backing the deregulation that got us into the financial crisis. Yellen, on the other hand, sounded the alarm about our impending housing crisis before many were willing to entertain the idea. On top of that, a recent report by The Wall Street Journal revealed that she was the most accurate forecaster in all of the Fed.

If appointed, Yellen would be the first woman to head the Federal Reserve. Her detractors claim that she doesn't have the "gravitas" for the job and hint that the markets will become skittish upon her appointment. On the contrary, she would bring a much-needed perspective to a position too often filled by a tight circle of elite men who subscribe to the prevailing wisdom that crashed our economy.

All Americans have a stake in this crucial appointment. Tell the President to break up the old boys' club and appoint Janet Yellen head of the Federal Reserve. 

Janet Yellen
Janet Yellen, vice chairwoman of the Federal Reserve Bank, speaks at the Economic Club of New York (AP Photo/Mark Lennihan)

51-75 of 5787 signatures
Number Date Name Location
5737 12 months ago George Musselman Grand Haven, MI
5736 12 months ago Anne Humphrey Vergennes, VT
5735 12 months ago Edith M. Conrad Asheville, NC About this "old boy's club", have they convinced you that you are a member? You are not!
5734 12 months ago Mildred Starrett Phoenix, AZ
5733 12 months ago Claudia Kuhns Denver, CO
5732 12 months ago James O'Malley Wheaton, IL
5731 12 months ago julia poulos Princeton , NJ
5730 12 months ago Megan O'Hara Huntington, NY Stop the pain! No to Summers.
5729 12 months ago Paul Bridgewater New York, NY
5728 12 months ago Theresa DeLeon Ruidoso, NM
5727 12 months ago Janet Mertz Madison, WI President Obama,
You should have appointed someone other than Summers 5 years ago to properly advise you on how to reregulate Wall Street and the too-big-to-fail banks. Better late than never.
5726 12 months ago Janice Thaldorf La Crosse, WI Dear President Obama,
I voted for you in the past two elections, even getting up out of a sick bed and going door to door the first time. So far, although I grant that the Republicans have been...
5725 12 months ago Anonymous Marysville, WA It is most important that the head of the Federal Reserve guide our economy toward development of all aspects.
5724 12 months ago Jeannie Wadst Portland, OR
5723 12 months ago Anonymous Randolph, MA Dear President Obama,
Appointing Janet Jellin will demonstrate to all Americans that you are indeed a free agent in deciding who or what is best for Americans. Your unrelenting support of Summe...
5722 12 months ago Ana Alvarez Clermont, FL
5721 12 months ago David Dunn Olympia, WA
5720 12 months ago Leopoldine Binder Highland Park, NJ
5719 12 months ago Linnis Cook Atlanta, GA
5718 12 months ago Bonnie Hughes Berkeley, CA
5717 12 months ago Barbara Dobkin New York, NY
5716 12 months ago Karen Zolar north olmsted, OH
5715 12 months ago Sherrill Redmon Northampton, MA
5714 12 months ago Linda Rust Willow Springs, MO
5713 12 months ago Joseph DiSalle
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