Billionaire Hedge Fund Managers Say It's Sad Larry Summers Won't Get The Fed Nomination

Billionaire hedge fund managers Marc Lasry and Glenn Dubin both said during a panel at the Bloomberg Markets 50 Summit that Larry Summers would have made a great Fed chair nomination.

Summers withdrew his name earlier this month saying that the confirmation process would be “acrimonious” for him.

Dubin, who runs Highbridge Capital, said that Summers was “hung out to dry” and that he would have made a “tremendous” Fed Chairman.

Lasry of Avenue Capital agreed saying that he found it “sad.”

“I think he would have done a good job and it’s sad he had to pull out.”

Lasry added that he thinks the President didn’t want to get in a fight because of other issues they’re dealing with in Washington. He added that he thinks that the odds are “greater than 50%” that we’re going to have a government shutdown.

With Summers out of the picture, the current front-runner for Fed Chair is current Fed Vice-Chair Janet Yellen.

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