Fwd: Summers withdraws from Fed race
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Sunday September 15 2013
BREAKING NEWS
Summers withdraws from Fed race
Lawrence Summers has taken himself out of the running to be the next chair of the Federal Reserve, withdrawing his name after opposition from key Democratic senators indicated they would oppose his nomination.
Mr Summers, a former Treasury Secretary and senior economic adviser to Barack Obama in his first term, galvanised opposition among left-of-centre Democrats who painted him as symbol of the wrongs of financial deregulation.
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A major blow to a friend. Lest BO takes him to replace JL.
Now he'll probably be free in the next few days. EB
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