Larry Summers to leave White House 'soon'
Bloombergs' Hans Nichols is reporting, and MSNBC's Savanna Guthrie is confirming, that Larry Summers will leave the White House shortly after the election. Here's Nichols:
Administration officials are weighing whether to put a prominent corporate executive in the NEC director’s job to counter criticism that the administration is anti-business, one person familiar with White House discussions said. White House aides are also eager to name a woman to serve in a high-level position, two people said. They also are concerned about finding someone with Summers’ experience and stature, one person said.
I've heard the same thing. So not to start any rumors, but it's worth noting that the Obama administration named Ann Fudge, former CEO of Young and Rubicam Brands, and current director for GE, Unilever, and Novartis, to the Fiscal Commission. It seems possible that she'd have an inside track at NEC, given what the administration is looking for. Here's a Forbes profile of Fudge.
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Ezra Klein
| September 21, 2010; 5:06 PM ET
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I wouldn't be surprised if Obama picked Ann Fudge to be the new Larry Summers. She fits the profile of being a woman and being from business.
Posted by: maritza1 | September 21, 2010 5:33 PM | Report abuse
The Administration is anti-business? And so Obama kisses their ass even more? And what's he going to get for it?
Posted by: Calvin_Jones_and_the_13th_Apostle | September 21, 2010 5:38 PM | Report abuse
Carly Fiorina!!!
Posted by: bakho | September 21, 2010 5:41 PM | Report abuse
John Boehner speaks, and the world listens. Next up, TurboTax Timmy.
Posted by: bgmma50 | September 21, 2010 5:46 PM | Report abuse
So the administration is eager to counter criticisms from the GOP and huge corporations that it is antibusiness?
I'd suggest they be eager to hire somebody who can create jobs for voters who say there are not enough jobs but that's just me.
Posted by: jamusco | September 21, 2010 5:50 PM | Report abuse
Never worry about someone leaving the Administration. Harvard has enough socialists to select replacements from. Just how does that work? Does the White House have Harvard on retainer?
November can't come soon enough!
Posted by: 2012frank | September 21, 2010 5:57 PM | Report abuse
Instead of heeding the followers of Rubin and Goldman Sachs, it would be nice if Obama showed both intelligence and humility by naming Paul Krugman to the post (and listening to him!).
Posted by: A2900 | September 21, 2010 5:57 PM | Report abuse
Amen A2900.
Posted by: bgmma50 | September 21, 2010 6:09 PM | Report abuse
Another Harvard MBA!!!!
What are we becoming, the United States of Harvard/Yale?
Doesn't this Administration believe in diversity?
Posted by: mcljch | September 21, 2010 6:32 PM | Report abuse
CEOs know almost nothing about economics, especially macroeconomics. This is supposed to be an macroeconomics position.
Posted by: endaround | September 21, 2010 7:03 PM | Report abuse
Despite what Obama says, he IS anti-business. His attempt to placate won't work because he's condemned and bashed corporate leaders and corporation way too long. He's turned those-who-don't-know- better, against private industry.
Posted by: ohioan | September 21, 2010 9:17 PM | Report abuse
Anyone ever heard of Patricia Bedient? - http://www.weyerhaeuser.com/Company/CorporateAffairs/SeniorOfficers
Posted by: indiethinker | September 21, 2010 9:24 PM | Report abuse
No one could be a worse choice than Summers. The man, who along with Rubin and Greenspan led the movement to deregulate the derivatives markets. This allowed A.I.G. to sell hundreds of billions of dollars in credit default swaps on mortgage-backed securities. We all know how this turned out.
And don't forget the nearly $1 billion he lost on interest rate swaps at Harvard.
Posted by: NelsonMuntz | September 22, 2010 3:50 AM | Report abuse
Yes, Ann would be a good choice. She could fudge the issues.
Posted by: jfgerald | September 22, 2010 7:07 AM | Report abuse
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