a very senior White House official who has been calling around to influential people in town advocating for Summers, and the big reason he says he is the right choice? That Summers will have the courage to say yes to Wall Street.

Here’s the deal: Larry Summers was one of the central players over the last 20 years who made America’s economy what it is. From helping to push through the repeal of Glass-Steagall and other financial industry regulatory reform, to stopping Born from regulating derivatives, to the cautious pro-Wall Street, modest-stimulus policies of the early Obama years, Summers helped create an economy where financial crises happen, Too Big To Fail banks get bailed out and keep getting bigger, 90% of the wealth being created goes to the top 1%, wages keep getting eroded, and job creation is still moving way too slow. Larry Summers owns this economy, it is his baby, and do we really want the father of this warped economy picked as Fed Chief? The politics of that are just horrendous for the middle class that Obama continues to give speeches directed toward

Larry Summers is the wrong guy for the wrong job at the wrong time. This pick is terrible politics and worse substance. Progressives and women’s groups will fight this tooth and nail, and any chance of the President looking like he is a fighter for the middle class on the economy will go up in smoke.