Breaking: NBC reporting Larry Summers will leave ‘soon’

Does this mean there will be a change from the conservative economic agenda promoted by Obama? More updates as they become available.

Bloomberg now has the story. If this is correct, we may be in for an even more conservative economic agenda. Should that be the case, there’s really even less reason to support this administration.

White House officials expect Lawrence Summers to leave his job as the president’s National Economic Council director after November’s congressional elections, according to three people familiar with the matter.

His departure would leave Treasury Secretary Timothy Geithner as the only member of President Barack Obama’s original top-tier economic team. Summers, 55, and the president have discussed his future plans, according to one person.

Administration officials are weighing whether to put a prominent corporate executive in the NEC director’s job to counter criticism that the administration is anti-business, one person familiar with White House discussions said. White House aides are also eager to name a woman to serve in a high-level position, two people said. They also are concerned about finding someone with Summers’ experience and stature, one person said.

His “experience and stature?” Really? So another scoundrel with deep ties to Wall Street who represents everything that’s wrong with the current system? It better be a hard right turn so he can attract the Teabaggers because this sounds like one kick too many for liberals.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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