Well, that's a relief.

[randomness]

From David Wessel's story in the Wall Street Journal:

Lawrence Summers pulled out of the contest to succeed Ben Bernanke as chairman of the Federal Reserve after weeks of public excoriation, forcing President Barack Obama to move further down the list of contenders to head the central bank.

Summers' letter to the President is available from the Wall Street Journal as a pdf.

Comments

[contrariety.livejournal.com]

I am yay about this. For absolutely no solid policy reasons, I just loathe Larry Summers.

[r-ness.livejournal.com]

I think you're covered by many other reasons, however.

[contrariety.livejournal.com]

Oh don't get me wrong. I think there are valid policy reasons TOO. I just can't pretend that's where my opinion springs from. :)