Network News

X My Profile
View More Activity

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.
Photo credit: By Bill O'Leary/The Washington Post

By Ezra Klein  | September 21, 2010; 5:06 PM ET
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Steven Rattner on the auto union
Next: Larry Summers leaving the White House


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? -

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

Post a Comment

We encourage users to analyze, comment on and even challenge's articles, blogs, reviews and multimedia features.

User reviews and comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions.

characters remaining

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company