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Summers Withdraws

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Wow. I have to give him credit for recognizing what Obama apparently wouldn’t.

And, of course, a great deal of credit has to go to the Democratic senators who made the choice too politically costly. Now one has to hope that Obama will do the right thing and nominate Yellen rather than spitefully picking a white guy worse than Summers (such as Donald Kohn.)

UPDATE: The no-brainer case for Yellen.

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