The brave move here would be to install Volcker in the post, but since Volcker cares about the country rather than the special monied interests, it most certainly will be a former CEO so Wall Street is happy. Because as we all know by now, every decision in America must center about making the "markets happy". In the meantime, the former New York Fed head (who was asleep at the wheel as our financial oligarchs in New York went on an orgy of excess the past decade) and current darling of Wall Street ("we tell him to jump, he asks how high?") TurboTax Tim now has all of Obama's ear to himself. [Oct 15, 2009: All of Tim Geithner's (Wall Street) Men] BFF!
- White House officials expect Lawrence Summers to leave his job as the president’s National Economic Council director after November’s congressional elections, according to three people familiar with the matter. His departure would leave Treasury Secretary Timothy Geithner as the only member of President Barack Obama’s original top-tier economic team.
- Since the end of July, Peter Orszag, director of the Office of Management and Budget, andChristina Romer, the head of the Council of Economic Advisers, left the administration.
- Summers will return to Harvard University, where he became the youngest tenured professor at 28 and later served as president, by the end of the year,