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September 22, 2010

Summers to Resign as Top Economic Adviser
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President Obama’s top economic adviser, Lawrence Summers, is stepping
down. On Tuesday, the White House said Summers will leave his post as
director of the White House National Economic Council before the end of
the year. Summers’s tenure at the NEC had marked a return to the White
House following his stint as Treasury Secretary under President Bill
Clinton. His key role under President Obama has drawn controversy
because of Summers’s close ties to Wall Street and his backing of
deregulatory polices that helped cause the economic crisis. According to
Bloomberg News, the White House is considering naming a "prominent
corporate executive" to replace Summers in order to counter Wall Street
criticism that the administration is "anti-business."



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