These are not slips or errors or misbehaviors on Sumners's part. They are calculated and intentional, designed to put various people, including himself, in their proper places–with Summers at the top of the heap.
A few months ago it was said that if Ben Bernanke raised his eyebrow at the wrong time, markets would crash. Why on earth would the President want to risk the economy to such a self-important, manipulative, self-promoter?
The Summers propaganda machine is in full-court press. In Washington, David Axelrod has been called out to testify to Summers's wonderfulness. But the facts don't back up the claims that Summers was a genius about the crash. As David Warsh says, referring to the fall of Lehman Brothers five years ago,
in the aftermath of the panic, Summers didn’t get it right. Under his tutelage Obama gave no clear explanation of what had happened on the eve of the election, offered no convincing narrative of events afterwards, failed in large measure to successfully manage expectations, and, even now, doesn‘t seem to really understand the sequence of events .Warsh thinks the tide is turning against Summers. I hope he is right. And I hope the President realizes, after all that has been remembered about Summers over the past few months, a confirmation hearing could be a disaster. Does he really want Summers to explain to the Congressional committee that would have to confirm him that government ethical rules are arbitrary and incomprehensible? That there was nothing wrong with his protege Shleifer's self-dealing, even though Shleifer was found to have conspired to defraud the government? That the ridiculous list of lucrative activities in which Summers was engaged while working full time for Harvard poses no worries about conflicts of interest should he re-enter government service?
On to your second choice, Mr. President. You don't need this and neither does the country.