Larry Summers Out as Obama's Treasury Pick?
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Victoria McGrane and Lisa Lerer from the Politico are reporting that Larry Summers is on the outs with the transition team.
The incident would likely make Summers' Senate confirmation a rocky proposition, especially since women's groups and liberal bloggers have already unleashed fierce opposition to him.
For Treasury secretary, Gandy said she suggested Federal Deposit Insurance Corp. Chairwoman Shelia Bair; Alice Rivlin, the first director of the Congressional Budget Office and expert on urban issues as well as fiscal, monetary and social policy; former Commodity Futures Trading Commission chairwoman Brooksley Born, who tried to regulate credit default swaps but was blocked by Summers, former Clinton Treasury Secretary Robert Rubin and former Fed Chairman Alan Greenspan.