Topic: Lawrence Summers

The recurring appearance of the number "33" in news headlines—such as Wall Street's worst slide in 33 years and Lawrence Summers' 33% recession chance—is analyzed as a potential secret code for insiders. References are made to the TV show *Rubicon* and the film *Ghost Rider* as examples of how clandestine communication works in government and finance.

Gene Sperling has been named the new head of the National Economic Council, returning to a role he held during the Clinton administration. Sperling was a key negotiator for the 1999 Graham-Leach-Bliley Act, which repealed portions of the Glass-Steagall Act and allowed for the merger of commercial banks and insurance firms. The hosts criticize the appointment, noting that an architect of the policies leading to the 2008 financial crisis is now leading the recovery efforts.

High-level departures from the Obama administration are discussed, including Rahm Emanuel, David Axelrod, and Lawrence Summers. Former budget director Peter Orszag was reportedly snubbed by White House colleagues who canceled their attendance at his wedding following his public support for extending the Bush tax cuts.

Lawrence Summers, head of the President's Economic Advisory Board, reportedly fell asleep during a financial summit. This incident is compared to the Japanese finance minister's recent public struggles. The G20 nations are noted to be coordinating a secretive response to the global financial crisis.