Larry Summers is a top contender for the job of Chairman of the Federal Reserve . Rick McGahey : Given Summers ' track record , he is unlikely going to be a tough regulator . He says he supports deregulation of banks and higher pay for financial executives . McGahey : Shaw take advantage of that predictable behavior by selling these assets to investors for a slightly higher price . We need a fierce regulatory watchdog at the top , not a lapdog of the banks .
Larry Summers is a top contender for the job of Chairman of the Federal Reserve . Rick McGahey : Given Summers ' track record , he is unlikely going to be a tough regulator . He says he supports deregulation of banks and higher pay for financial executives . McGahey : We need a fierce regulatory watchdog at the top , not a lapdog of the banks .