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| Caroline Baum |
With the departure of Larry Summers, President Barack Obama has lost three-quarters of his economic team and much of its heft. White House budget director Peter Orszag resigned in June. Christina Romer, chairman of the president’s Council of Economic Advisers, left earlier this month to return to her teaching post at the University of California at Berkeley -- one job that wasn’t created or saved by her econometric modeling.
Now comes Summers, who will return to Harvard University for the spring 2011 semester in order to maintain his tenured professorship. That leaves Treasury Secretary Tim Geithner. Is he next? It doesn’t matter. Cleaning house starts at the top, with the resident of the White House. Everything else is secondary. Read more here:
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