Flock of Obama departures could spell economic overhaul focus 09/24/2010

Flock of Obama departures could spell economic overhaul

focus

09/24/2010
WASHINGTON — A rush of departures from President Barack Obama’s economic team has pundits speculating over a policy revamp and moves to repair ties with big business.

By the start of 2011, Obama’s economic team will bear little resemblance to the one that steered the United States through the depths of the economic crisis.

With the announcement on Tuesday that economic policy coordinator Lawrence Summers will leave the administration, Obama has lost three of his four most battle-hardened economic advisers.

Only Treasury Secretary Timothy Geithner remains of a group that shepherded the world’s largest economy for the past two years.

But it is Summers’ departure that will leave a gaping hole at the center of Obama’s team.

“We are grateful for and better off for the ideas that Larry brought... into the administration for the economic team,” Robert Gibbs told journalists on Wednesday.

As director of the White House National Economic Council, Summers is not only one of the President’s most influential advisers, but also has the powerful role of coordinating the conflicting interests of other advisors and branches of government..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/commentary/20100924com3.html