SUMMERS SIGNS OFF: OBAMA LOSES/SHEDS ANOTHER ECONOMIC ADVISER

PRESIDENT OBAMA'S 
DIRECTOR OF THE 
NATIONAL ECONOMIC COUNCIL 

LAWRENCE H. SUMMERS 

IS TO LEAVE 

TO RETURN TO HARVARD AND -- ? 

Some of the commentary: "Summers is the prism through which the president sees economic policy. It is he who presents the regular morning economic briefings, synthesising and summing up the reports, statistics and views of other economic experts. He even blocked the revered former chairman of the Federal Reserve, Paul Volcker from having direct access to the president. Everything has to be filtered, and he is the filter." (BBC)

"Summers, known for his abrasive style, has not been the best communicator of the administration's economic policies. His departure would allow Obama to bring in a new public face for his economic agenda." (Reuters) 

"So far we know that Mr. Summers will leave his post as the director of the National Economic Council to resume teaching at Harvard. But he was also known for spending some time on Wall Street, specifically the hedge fund D. E. Shaw, from which he collected a $5 million paycheck in 2008. 

"Mr. Summers also picked up $2.7 million in fees for speaking to Wall Street firms." (New York Times) 

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