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HomeWon’t Have Larry Summers to Kick Around Anymore
Posted by Larry Doyle on September 16th, 2013 10:51 AM |
I have no doubt that Larry Summers’ choice to withdraw from his well known desire to be the chairman of the Federal Reserve only came at the behest of the White House.
I firmly believe that President Obama and the most senior execs on Wall Street wanted their pal Larry to be the next Fed chair.
As it became increasingly obvious that a Summers nomination would have required an expenditure of significant political capital, the administration likely told Larry to do the honorable thing and step aside gracefully.
Most observers know that Summers is not typically defined as graceful, but rather more akin to a lighting rod. As seen in this brief Bloomberg clip: (more…)
