As Larry Summers prepares to follow the rest of Obama’s economics team into richly deserved unemployment (okay, not really, they’ve mostly got tenured professorships to fall back on, Summers at Harvard, Romer at Berkeley), who is the president going to name as a replacement? The smart money apparently is on Anne Mulcahy, the former CEO of Xerox.
But that’s not all she’s done with her business career: She was, until a few months ago, on the board of directors at Citigroup, the $45 billion bailout baby that is still partly owned by Uncle Sam, who is desperately trying to dump the stock but keeps driving the price down every time he tries to offload it.
What, Lloyd Blankfein and Tony Hayward turned the job down?
That thundering sound you hear is Republicans across the fruited plains dropping to their knees praying that Obama appoints her.