Lawrence Summers is Obama's Director of the National Economic Council. His last prominent full time job was President of Harvard University (from which he resigned after pronouncing that women have lesser aptitude for work in the highest levels of math and science).
Here's a quote from then-Treasury Secretary Summers celebrating financial services deregulation in 1999:
''Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,'' Treasury Secretary Lawrence H. Summers said. ''This historic legislation will better enable American companies to compete in the new economy.''
Why does Obama keep hiring the guys who messed things up to straighten them out?