the democrats or the republicans in the white house they hire nincompoops and morons like larry summers or hank paulson they're both morons they're you know it's just a matter of like shading of them or onic right this revolution is not going to happen for the simple reason that here with the wash we are going to stop the revolution from happening hey hey you're there you're upset about the fact that you've had your life destroyed and all your money stolen you're thinking about getting active and maybe pushing back against a corporate actor patient here's a dollar here's one dollar go away why i mean that they're cheap americans are sexually cheap they sell themselves cheap they work too cheap they consume cheap stuff and they're cheap they're cheap they're the they're there they're cheap baby they are cheap they're not worth it forget it let's move on let's move on forget america it's gone it's all history now iceland is more interesting it's more democratic it's more progressive the politicians our brains the banking system memory form think about iceland is america two point zero ame

also leaving, larry summers, and budget director peter orszag is gone, but so is care of the council of economic advisers, christina romer. david axelrod will hang on until a least next year. what impact will this have on the white house operation, nina? >> it will clean up the language. pete rouse is a different kind of person. >> the new chief of staff. >> at least the interim chief of staff. rahm emanuel was a great enforcer at great political instincts. but he was ruthless, not just to his enemies, but the people in the white house and admit for a difficult situation at times. >> what do you think, mark? >> pete rouse is in the historic old course that in his passion for anonymity and no -- historic mold for staff and his passion for anonymity and no personal agenda. rahm emanuel devoted time and to energy to it, but he had a public persona. you will not see pete rouse doing ch"charlie rose." >> colby? >> this probably is going to be a good move on the part of president obama to get somebody who is less trouble than rahm emanuel was. >> charles? >> it will make no difference. the

also leaving, larry summers, the budget director peter orszag is already gone, and so is the chair of the council of economic advisers, christina romer. david axelrod will hang in at least until next year. what impact will rahm emanuel's departure have on the white house operation, nina? >> it will clean up the language. pete rouse is such a different kind of person. >> the new chief of staff. >> at least the interim chief of staff. rahm emanuel was an enforcer and had great political instincts, and in many ways very good judgment. but he was ruthless not just to his enemies. he was ruthless to people in the white house he disagreed with, and it made for a very difficult situation at times. >> what do you think, mark? >> pete rouse is in the historic mold for staff. a passion for anonymity and no personal agenda. obama chose rahm emanuel and he, quite frankly, was the chief of staff and devoted his time and effort and energy to it, but he always had a public persona. you won't see pete rouse doing "charlie rose." >> colby, your take. >> rahm emanuel was a lightning rod on a lot of iss

he had people like larry summers and tim geithner and saw them as crisis managers.y could come in and fix the problem without fully appreciating that they were in some ways the authors, partially, of this crisis. tavis: last not we got a chance to talk a bit about this with the former labor secretary. now that the president gets a chance to reshape his economics team, christina roemer already back in california, peter orszag now writing for "the new york times." how should he reshape his economic team, given what we are up against right now? >> frankly i would hope that the president does the opposite of some of the advice he is getting right now, which hiring a ceo to come in and run economic canceled if the council to take larry summers place, i think he has been relatively easy on wall street. my view would be, i think he should go ahead and do what i thought he should have done a couple of years ago and hire a guy like paul volcker, who is a legend in his own time, and was quite prescient about the problems with the regulation of the financial sector. if not him

they were looking for a business person to fill larry summers job as the chief economist.qualified to be the chief economist of the united states. that said, think about why the white house and you know, we were first to report on fox business why they wanted a business person, because they know that the business community is at odds with what they do and they want to instill confidence from what they do as a business standpoint. nobody, major business person wants that job. >> neil: i can see why, there is a little different with larry summers and the stature. he is not the treasury secretary now. he holds no cabinet position. certainly something most people holding the cabinet rank. if you are a ceo or former ceo you are not going to leave for a top position. you want a capital position. >> ann would have been good for the job because she is not running xerox right now. she is doing something else. dick parsons name was floated and i don't think he's good for the job for a lot of reasons. he is chairman of citigroup. doesn't do a good job there. jeffrey immelt was leaked

i do think the larry summers is key. the president, if he's pointing in any particular direction, any change-up in the way he's going, i think it will be the in the larry summers job. >> the signal for economic strategy. next, cnn political editor. mark, take a look at these polls. when you ask which party is more responsible for the economic problems, 41% say congressional republicans as opposed to 35% blaming congressional democrats. at the same time ask which party is more likely to improve the economy and 47% favor republicans in congress versus 41% choosing democrats. voters blame them but going into the midterm they are counting on republicans to fix it as well. >> these are voters looking back at the past eight years of the bush presidency and they realize that's when the economic slide began to show. that's when they began to feel it. historically republicans have done better on economic issues and tax cuts. democrats are considered the party of tax and spend. let's taste it, right now democrats control congress.

a change-up if the way he's going it will be in that larry summers job. >> what will be the signal be? and mark preston is cnn's political editor. look at the polls. when you ask which party is more responsible for the economic problems, 41% say congressional republicans as opposed to 35% blaming congressional democrats. at the same time ask which party is more likely to improve the economy and 47% favor the republicans versus 41% choosing democrats. heading into the midterm it looks like they are counting on republicans to fix it. >> these are voters who are looking back at the past eight years of the bush presidency and they realize that's when the economic slide really began to show and that's when they began to feel it. republicans have all done better on economic issues and tax cuts and democrats are considered the party of tax and spend and let's face it. right now democrats control congress. democrats control the white house. we still seem to be in this economic mess. looking for solutions, you know, they may blame republicans but they think republicans can get them out of the

>> we had a whole series of discussions with larry summers and tim geithner, ultimately rahm emanuel went to t president with a sees of recommendations. and interestingly enough nobody quarreled with our view about changing management at gm. it was almost not discussed. the toughest decision that we faced was whether to save chrysler which was a much more, as i said earlier, a much more marginal player. but the issue of whether to keep rick or not keep rick, ironically got no discussion. >> rose: how do you deal with a health-care system that they had, some people used to say that general motors was a health-care company and not a car company. and hodo you figure out, you know, what nd of demands are you going to make of the unions which have been so powerful? >>t's not just the unions. it's all the stakeholders. although to your point if you want an interesting factoid, general mors the larges pchaser of vili ra the-- viagra in the world because it covered under e union's cadillac health-care plan. >> rose: is at right. >> tru stement. >> rose: factoid for the da >>omething you can

." >> reporter: whether defending economic adviser larry summer -- >> in fairness, larry summers did a heck of a job trying to figure out how to -- >> you don't want to use that phrase, dude. >> reporter: or his agenda in general. >> we have done things that some folks don't even know about. >> what have you done that we don't know about? [ laughter ] >> well -- >> are you planning a surprise party for us, filled with jobs and health care? >> reporter: that disappointment is also reflected among key groups that helped deliver mr. obama to the white house two years ago. a new poll shows women, who went for obama by 13 points in 2008, now lean republican by four points. independents went for obama two years ago by eight points. they now favor republicans by 20. >> you ran with such, if i may, audacity. yet, legislatively, it has felt timid at times. >> you know, i have a profound disagreement with you. it wasn't change you can believe in in 18 months. it was change you can believe in, but you know what? we're going to have to work for it. >> reporter: jon stewart aver e averagaverag av

why is it that people like larry summers and tim geithner came back? they were the month responsible for early, failed policies, so why did obama go back to them instead of the people that you described as the canaries in the coal mine, the people who had identified some of the problems? guest: one of the people i quoted in my book, a former senior regulator, said this to me. obama did not run for president to fix derivatives. this was not his area of expertise. he is a brilliant man, he certainly understand the gravity of the problem, but he did not understand until he became president just how deep it was. he saw people like summers and tim geithner as fix-it guys. i think he assumed that they would be able to fix it, considering they were partly responsible for it. certainly, we are seeing some signs that obama has realized, as sommers is leaving -- the president recently named elizabeth warren the head of this consumer panetta protection bureau, which is a great part of this new law. she is certainly considered a very progressive voice. she is one

rahm emanuel, peter orszag, christina rover and larry summers. what does this mean for the president? or is this usual? would you see people of this stature heading out the door two years into. >> you do see this in the first two years. i think what's a little bit different is that we're seeing a lot of this take place a little bit before the midterm and outside events. you know, jim brought up the retirement of mayor daly that sped up the process with rahm emanuel. rahm was going to leave next year. he was going to leave probably some time in late spring was the last, they were going to do an entire reorganization to prepare there the re-election of the campaign. but i would not describe this as a shake up. this is the classic turnover because look at who's replacing who and we didn't even mention, look, david axelrod has already announced that he is going to leave and we will start working on the campaign and david mruf, one of the architect of the 2008 campaign is going to be the campaign operative on the inside and he is going to come into th

but because he's got larry summers and tim geithner whispering and do is there he did the absolute worst thing speaking of funny dried beef sort of moment here's another dried beef moment e.u. set secret group to save the euro. two months after the collapse of lehman brothers in the fall of two thousand and eight apparently a small group of european leaders set up a secret task force to save the euro this information only came to light when the french treasury official exile be a moose was stepping down as chairman of the economic and financial committee which is an important body and the e.u. structure and he left memo to his successor and at the end of a long list of things he had to do he added one more thing incidentally there's a group that doesn't exist well remember gordon brown he called it the shadow banking system you know there is a global shadow banking system and the money that they control in the shadow banking system is much more than what is reported in the visible banking system and these bureaucrats and technocrats and folks think they try to maneuver this shadow bankin

little tiny single word but i think stewart asked the president a few challenging questions about larry summers about a change turning into tiny little fragments the basics what i wish i would have seen were actual tough questions on don't ask don't tell on expanding presidential powers like putting american citizens on assassination lists on the increased war against whistleblowers on why the hell we're still in afghanistan i guess that's just a little too much to ask maybe i should just stick to the basics like the rest of the media and focus on the word dude so that's why our tool time award tonight goes to the media for creating the entire dude debate for making something out of nothing and throwing any real analysis out the window. now science has finally provided an answer for politicos all over america why are liberals so different than everyone else well according to scientists from u.c.s.d. and harvard it could be all genetic they have located a gene called d r d four and they're calling it the liberal studies concluded the ideology isn't just a social thing it is built into your d.n.a

top political advisor director of the council of economic advisors larry summers is one of the worst buyers he ever made paramount being he was instrumental in the financial meltdown the chairwoman of the council of economic advisors budget director national security director defense secretary gates is like a fossil at this point. i mean i think there was only so long they could hold somebody over from the bush administration i think and general commanding forces in afghanistan with all of these people jumping ship you have to wonder if it's because the administration is sinking into a sea of the country's bottomless problems poor economic situation the wars in afghanistan which are in iraq are not going well bomb around on a promise of removing the troops from. iraq he hasn't done that the white house doesn't have a magic wand they can't fix the economy no matter who's in office but policies that really are inadequate are unable to really even dent the problem are not going to work and that's what we've had here so where does this leave the once popular president who won over much o

why is it that people like larry summers and tim geithner came back? they were the month responsible for early, failed policies, so why did obama go back to them instead of the people that you described as the canaries in the coal mine, the people who had identified some of the problems? guest: one of the people i quoted in my book, a former senior regulator, said this to me. obama did not run for president to fix derivatives. this was not his area of expertise. he is a brilliant man, he certainly understand the gravity of the problem, but he did not understand until he became president just how deep it was. he saw people like summers and tim geithner as fix-it guys. i think he assumed that they would be able to fix it, considering they were partly responsible for it. certainly, we are seeing some signs that obama has realized, as sommers is leaving -- the president recently named elizabeth warren the head of this consumer panetta protection bureau, which is a great part of this new law. she is certainly considered a very progressive voice. she is one

incompetent by wall street. >> except for larry summers spending a small amount time at a hedge fund two years at a hedge fund and made 16 million dollars the joke is that his wife spent most of the money. i might wonder why he's going back into politics. >> sean: the book is predicated on this idea that this myth that people have that wall street is in the back pocket of republican party is the opposite. >> it has never been that way. there was once a time, a long time ago, that wall street was run, not by free market capitalists sort of rockefeller republicans that understand the nexus between big government and big business, how much big government could help you. what happened over the last five years, is that you have seen many, many more progressives, people that believe in a progressive agent dab, social agenda, take over the top positions jamie dimon talk to him about universal health care. john mack the chairman of morgan stanley, huge advocate for universal health care. goldman sachs is run by blankfein and cohen two big supporters of democratic causes. >> sean: i thought o

time geithner, larry summers, rahm emanuel when he was there, they talked to the business community.usiness community, not having somebody sitting in the white house with the business community getting what it wants. the last couple years of clinton when you had summers as treasury secretary, you had no business people in the white house and business was very happy sglp robert ruben was gone. >> i said in the last couple years. he set the table. i think what you have going on here right now is a president who is walking a very fine line to the left which is beating him up every day on one set of issues, business people beating him up on another set of issues. and he's trying to find middle ground. >> you brought up three names, tim geithner on the fed, larry summers, professor, rahm emanuel, full-time politician, been in public service, president of the united states, a community org nearer and a professor. it does matter. the people you talk today in and day out, if you have somebody that spent their life like yourself or like michael bloomberg or, you name it, somebody that's run a

but i would say somebody from the business community would find working in the white house and larry summersreme culture shock. >> what do you mean? >> you're going from being a ceo, running a company, saying this is what we're going to do, to a very complex organization that operates very much by collaboration, consensus, bringing in opinions from all over the government. it's basically a staff job, it's a very important staff job but you're working for the president and the other senior staff members. it's very different from being a ceo. i think it would be a tough adjustment for most ceos. >> would do you it in. >> well, i'm not a ceo and i'm selling my book at the moment, so it's not something i'm thinking about. >> you spent a while working in government after many years as a journalist, many more years on wall street, founded your own firm. what was the dominant thing that struck you about working in government at a very high level? >> it was interesting, because it was different in a number of ways from what i expected. of course, i went in with low expectations. i had been around wa

. >> larry summers did a heck of a job trying to figure out how to -- >> you don't want to use that phrase, dude. >> larry: plus sarah palin running for president, for certain? is karl rove trying to kill her career? election clock's ticking. next on "larry king live." so much to cover, so little time to do it. the one and only stephen a. smith, the nationally syndicated radio host joins us here in l.a., ben stein t economist, former presidential speech writer, columnist for "fortune," contributor to cbs' "sunday morning" and the author of "little book of bulletproof investing t ". and penn gilles et, magician, author, libertarian. he appear s at the rio in las vegas and penn and tell er b.s. here's a sample of the q&a. we'll ask our guests about it as well. watch. >> jon, i love your show, but -- but, but this is something where i have a profound disagreement with you and -- i don't want to lump you in with a lot of other pundits, but this notion. >> you may. >> no, no. look. this notion that health care was timid, you got 30 million people who are going to get health insurance as a conse

but time will tell, as always. >> all this natural christine romer, larry summer, peter orszag.t two years into the administration. time for a change? you got to figure the burnout factor. these people work 24/7. >> they are at the office before the sun is up, they go home long after the sun is down. two years is long enough for many of them to get out and go back to their normal lives and have lucrative jobs. we'll see a few more prominent people go around the end of the year. and then people really need to decide are they there for the long haul? are they going to be there through 2012? because what is damaging for any administration is to have staff members decide right at the last minute they want to go. it would be very difficult for the president to lose a chief of staff a month before his own re-election. one thing to do it before the midterms. that can't be the case in 2012. they'll lock in their staff and have it remain stable. >> anne kornblut, good to talk to you. up next, checking the mail may never be the same, from your bills to birthday cards. we'll tell you about

obama aids left the white house, including rahm emmanuel last week and the earlier did partures of larry summers and christina romer. his resignation will take effect in two weeks. craig bosswell, fox news. >>> nearly 100 homes broken in two and investigators think the same man is pulling it off. how police think turning to the internet could keep your home safe. >>> and cell phones, ipads and college students are more connected than ever and some say it's not a good thing. coming up at 6:15.  >> authorities caught up with a west virginia woman under arrest in one of the biggest animal cruelty cases in berkeley county. mary o'brien faces 56 counts of animal cruelty. authorities took more than 50 horses and two cows from hid own meadows equine rescue on september 11th after a complaint. the officers say the animals are left without water and living in extremely poor conditions. >>> the fairfax county police are trying something now to answer your questions about the recent serial burglaries. an online forum was opened. people could log on and fire away. the fairfax county police chie

. >> do you think he should appoint somebody who has real business experience to secede larry summersit of a red herring in the sense that is he very plugged in to the world. he has his economic recovery advisory board that consists of a number of very distinguished businessmen, including jeff immelt and so forth from general electric. he reads voraciously. so maybe, simply, simply to get rid of this one criticism of him, he could put somebody from the business community in there. but i would say somebody from the business community would find working in the white house and larry summers' job an extreme culture shock. >> what do you mean? >> you're going from being a ceo, running a company, saying this is what we're going to do, to a very complex organization that operates very much by collaboration, consensus, bringing in opinions from all over the government. it's basically a staff job, it's a very important staff job but you're working for the president and the other senior staff members. it's very different from being a ceo. i think it would be a tough adjustment for most ceos. >>

>> guest: what larry summers and tim geithner were from about with this to be the opposite ofk vietnam. we would get an out quickly and leave them in the hand.ral motos l 6n a general motors is owned by the federal government, the federal government does not run gm. has no representatives on theg board.. decisions are making on their own. and the work of the government thehe car industry is coming to a close and pretty much come to a close. >> host: how healthy is the industry at this point? >> guest: parcells are still very, very depressed. the 11th when a plane in this tuntry, down from a peak of 70 million, also well below 50 million which is the replacement rate, the number you have to sell the chair to get the fleet from aging and to accommodate new drivers. bse so it's not a particularly high level of car sales. but because the detroit three companies all significantly restructure, 200 hour care, one of a the round, they're makingrl money. comeral motors had its first two quarters of profitable net i income from the first time several years. ford has been making money for several

. >> and in fairness, larry summers did a heck of a job trying to figure out how to... ( laughter ) >> you don't want to use that phrase, dude. >> reporter: with his focus on young voters, the president has hit a string of college campuses. tomorrow the final three-day swing takes him from the of virginia too temple university in philadelphia and after stops in connecticut and chicago, he'll finish up sunday with a rally at cleveland state university. with control of congress at stake, vice president biden is campaigning nonstop. this weekend hitting iowa, massachusetts, and ohio. the first lady has also been hitting the trail with events monday in philadelphia and las vegas. and bill clinton has been campaigning continuously, even stopping in southern states where president obama may not be welcomed. now the white house says they still think democrats can keep control of the house, but every objective political analyst i've talked to says it's a lost cause. katie? >> couric: chip reid reporting from the white house tonight. congressional correspondent nancy cordes is here in new york

larry summers is gone. david axelrod is around and will be around until he takes off to run the campaign. robert gibbs is still present. i question whether there is anything that is really at the core of the obama white house that has changed. >> chris: so, and we have about 30 seconds left. brit, you think this is still a liberal, progressive, whatever you -- left wing presidency and white house? >> well, he still has the opportunity, chris, after the election. pete rouse is named as an interim. he could be named as a permanent, new chief of staff. the president wants to make a change he still has plenty of opportunity to do that before the new congress is sworn in. i'm just saying you don't see it yet. >> chris: all right, panel. thank you so much. we'll see you next week. don't forget to check out the latest edition of panel plus where the group picks up with the discussion on the website, foxnewssunday.com. we promise we'll post the video before noon eastern time. up next, from louisville, kentucky, we