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"Summers is over. Unfortunately, the unemployment crisis is showing no signs of going anywhere.\u00A0\u00A0\nLarry Summers (right), President Obama\u2019s top economic adviser, said Tuesday he\u2019ll return to his teaching job at Harvard at year-end. He is the third top economic aide, after budget czar Peter Orszag and policy wonk Christina Romer, to leave the White House in short order.\n\n  \nBack to Boston\nSummers won\u2019t be missed by many in the Beltway, judging by the amount of time people spent complaining about his alpha economist behavior. And it\u2019s no surprise that the president wants to make changes.\nAfter all, the near collapse of the economy \u2013 averted by vigorous government action &amp;#8212; is ancient history. The unexpectedly quick \u00A0turnaround of the financial sector \u2013 the signature accomplishment of the Summers-Geithner team \u2013 is now seen as having been inevitable and not necessarily even laudable. The handouts to millionaire bankers and deep-pocketed investors still rankle, whatever Charlie Munger might think of the choices facing policymakers.\nAdd to that a double-barrelled unemployment problem. Joblessness is near a three-decade high and underemployment affects 1 in 6 Americans. Big companies are hoarding cash rather than investing, and CEOs are carping that the president and his minions don\u2019t understand them.\nThe administration doesn\u2019t have a lot of maneuvering room at a time when growth is slow and the U.S. budget position is already seriously out of whack. What&amp;#8217;s more, there is little sign the White House is ready to move beyond half-measures.\nWhich is what makes the task at hand so sobering: No matter who fills Summers\u2019 job, whether it\u2019s another economist or a hard-hitting business leader, turning the jobs problem around is going to take a lot more than improved interpersonal skills. It will mean trying to sell the country on new policies to boost jobs.\nThat will be the reality Summers\u2019 successor, whoever he or she may be, will face come January. Economic debates may run a little smoother, but it is going to take a lot more than smoother meetings to turn the ship around."^^<http://www.w3.org/2001/XMLSchema#string>
<http://fortune.com/2010/09/21/summers-leaves-job-crisis-stays-on/>