Tuesday, September 21, 2010

Rats off a Sinking Ship: Larry Summers Edition

It has only been 2 years and it seems there is a stampede to the door for the Obama advisors.

Summers is the third high-level member of Obama's economic team to leave in recent months, following the departure of budget director Peter Orszag and Christina Romer, head of the Council of Economic Advisers, both of whom left this summer. Treasury Secretary Timothy Geithner would be the only one of Obama's top-tier economic advisers to remain with the administration should be stay through the end of the year.

I'm betting on Geithner being shown the door right after the election. The last thing Obama needs is a market panic set off by the uncertainty of losing every member of his economic team with 10% unemployment and 1.6% GDP growth.

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