Larry Summers appeared on ABC’s This Week with George Stephanopoulos, although the show was guest-hosted by Terry Moran. (It’s late August. GS is probably at the US Open, where I should be.)

He was not optimistic about the state of the stock market and the economy, but stuck up for the little guy, saying that the focus of economic policy should not be bailing out big investors, but addressing the needs of homeowners who are facing the loss of their homes.

Sound economic policy—or political positioning?

Summers’ best-delivered line of the show: “The Wall Street editorial page is wrong when it tries to deny the American dream” of homeownership to working families.

LHS has gone almost entirely gray in the past year; he’s looking more distinguished these days.