Skip to main content

Very good news for the 165,402 members of the Daily Kos community who took an anti-Summers action during our campaign against him. From the Wall Street Journal online (subscription required):

"I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation's ongoing economic recovery," Mr. Summers said in a letter to the president that followed the telephone call.

The move forces Mr. Obama to look to other potential candidates for the Fed job including Janet Yellen, the Fed's vice chairwoman; Donald Kohn, a former vice chairman; and former Treasury Secretary Timothy Geithner. Mr. Obama has said that he interviewed the first two. Mr. Geithner has said he isn't interested.

In a statement, Mr. Obama said he accepted Mr. Summers's decision. He described him as "a critical member of my team as we faced down the worst economic crisis since the Great Depression, and it was in no small part because of his expertise, wisdom, and leadership that we wrestled the economy back to growth and made the kind of progress we are seeing today."

••• •• •••

(jj32 made the Daily Kos announcement here.)

3:51 PM PT (Transcripts Editors): President Obama's official statement on the withdrawal of Larry Summers can be found here.

Originally posted to Daily Kos on Sun Sep 15, 2013 at 01:44 PM PDT.

Also republished by Good News.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Superskepticalman, Sylv, chuck utzman, vicki, Terri, Radiowalla, hester, teacherken, glitterscale, abarefootboy, mimi, Minnesota Deb, eeff, rubyr, willyr, LeftHandedMan, RFK Lives, Creosote, magnetics, Agathena, CoolOnion, lunacat, Dburn, navajo, artebella, Redfire, scott5js, wdrath, Tillie630, lcrp, barbwires, dkmich, Bendra, ybruti, side pocket, Wife of Bath, marvyt, poemworld, Black Max, marina, 3goldens, citizenx, basquebob, YucatanMan, Laurence Lewis, PSzymeczek, Burned, stevemb, Lisa Lockwood, peacestpete, Land of Enchantment, xaxnar, begone, skywriter, Patriot Daily News Clearinghouse, vigilant meerkat, 417els, dopper0189, KenBee, kck, Lefty Coaster, global citizen, 4Freedom, sceptical observer, ER Doc, AllDemsOnBoard, onionjim, Clive all hat no horse Rodeo, blueoregon, kurt, kurious, Johnathan Ivan, Cartoon Messiah, PatConnors, seabos84, bluicebank, Karen from Maui, Cronesense, devis1, yoduuuh do or do not, Mary Mike, wildweasels, flumptytail, Dave in Northridge, suejazz, joedemocrat, klondike, Aunt Martha, jnhobbs, leonard145b, on the cusp, gizmo59, JeffW, HappyinNM, crescentdave, Involuntary Exile, brasilaaron, Tonga 23, Parthenia, Karen Hedwig Backman, JamieG from Md, Justanothernyer, tuckerm, MufsMom, J M F, Rick Aucoin, ewmorr, dharmasyd, rbird, BlueInRedCincy, Remediator, Bonsai66, petral, followyourbliss, stevenwag, Dragon5616, Larsstephens, Railfan, smileycreek, willynel, CS in AZ, laserhaas, Puddytat, Publius2008, stevenaxelrod, annieli, I love OCD, ban nock, lady blair, trumpeter, PorridgeGun, thomask, MacDaffy, createpeace, worldlotus, enhydra lutris, Rosicrucian, whaddaya, cactusgal, ratcityreprobate, Willa Rogers, joanbrooker, DRo, Regina in a Sears Kit House, T100R, Azazello, Laurel in CA, anodnhajo, DeadHead, Eric Nelson, S F Hippie, Mr Robert, belinda ridgewood, TBug, AverageJoe42, Glen The Plumber, Windowpane, countwebb, argomd, kleinburger, remembrance, poopdogcomedy, 3rock, Aunt Pat, Jollie Ollie Orange, northerntier, Icicle68, Avilyn, Blazehawkins, blue91, The Story Teller, Street Heat, martianexpatriate, OregonWetDog, The Marti, julesrules39, richardvjohnson, OldSoldier99, Liberty Equality Fraternity and Trees, Capt Crunch, MarthaPeregrine, jbsoul, Gurnt

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site