Dealbook reports that The New Yorker‘s Ryan Lizza came out Monday with a nearly 11,000-word piece on President Obama‘s first term in office. The piece relies heavily on a series of confidential memos, never before published, that shed light on the president’s legislative agenda, including his budget process, his efforts to win over major interest groups and his efforts to shape bipartisan consensus in Washington.
Monday afternoon, the magazine released the full contents of one document whose highlights were sketched in the piece: a 57-page memo from Lawrence H. Summers, who was about to begin his tenure as director of the National Economic Council, to Mr. Obama, then president-elect. Mr. Lizza calls the document “the ur-text of economic policymaking for the Obama Administration.”
Written in December 2008, the memo is clearly a period piece. When it was presented to the president-elect, the financial crisis was still fresh, the Dow was still below 9,000 and Occupy Wall Street was still a glimmer in Adbusters’ eye. But some nuggets provide insight into the kinds of advice Mr. Obama was getting from one of his most respected economic advisers as Wall Street teetered on the brink.
But don’t take their word for it. Check out http://www.newyorker.com/reporting/2012/01/30/120130fa_fact_lizza?currentPage=all
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