Summers withdraws and Futures roar
Larry Summers had the good sense to withdraw his name from FED Chairman consideration. And the response by the world was to cheer. I always made my feelings clear. He is too much of a wild card for the job. The market doesn't like surprises, and with Summers you would get them. I also question his ability since I have blamed him with the causation of the "Great Crash." After all it was he who guided President Clinton with repealing Glass-Steagall, something I have argued for years did tremendous harm.
Now Mr. President please start Gelin with Yellen. The market WANTS her and her qualifications are impeccable.