Shhhh, Don't Wake Up Larry

Presence of divisive Summers cranks up tensions on Obama's economic team

(NEWSER) - On his 54th birthday, Tim Geithner brought Larry Summers a cake, and the guest of honor ad-libbed some lyrics, bellowing, “for he’s an unpleasant fellow,” rather than “for he’s a jolly good fellow.” In the months since, his colleagues have wondered if he was actually joking, the New York Times reports. Tensions have been simmering around Summers as the argumentative National Economic Council director clashes with the president’s other economic advisers. More»

Top adviser joins exodus of economic team

(AP) - President Obama's top economic adviser plans to leave the administration at the end of the year, the White House said today. Lawrence Summers will leave his post as director of the National Economic Council to return to Harvard University, where he once served as president before being forced out in the aftermath of a remark about women's abilities in math and science. The departure comes amid a sluggish economic recovery that has seen unemployment hover near 10%. More»

Adviser irked that Geithner, not he, has Obama's ear

(NEWSER) - Economics guru Larry Summers will be out the Obama administration by November’s election, or shortly thereafter, Joshua Green contends —mainly out of frustration that Treasury Secretary Timothy Geithner, and not he, has become President Obama’s go-to adviser in that area. Blogging for the Atlantic, Green notes that, after being passed over for the top spots at Treasury and the Federal Reserve, “Summers is frustrated by his role, and his colleagues are clearly frustrated with him.” More»

Sleeping for 90 minutes at midday boosts the brain's ability to learn

(NEWSER) - Taking a nap after lunch helps the brain "reset" and prepare to assimilate new information, researchers say. "It's as though the e-mail inbox in your hippocampus is full and, until you sleep and clear out those fact e-mails, you're not going to receive any more mail," says the author of a new study. "It's just going to bounce until you sleep and move it into another folder." More»

(NEWSER) - President Obama's top economist is confident that swift action by the administration averted disaster, ABC News reports. “We were at the brink of catastrophe at the beginning of the year,” Larry Summers says, “but we have walked some substantial distance back from the abyss.” Summers credits the recovery to the two-tiered plan that moved quickly to stabilize the financial system while simultaneously preparing for future growth. More»