Bloomberg’s Hans Nichols is reporting President Obama wants to nominate former White House economic adviser Larry Summers to head the World Bank later this year.Nichols quoted two sources familiar with the matter that Summers is being backed by Treasury Secretary Timothy Geithner for the post.
Hillary Clinton is also being considered, the sources said. Current president Robert Zoellick, appointed by George W. Bush in 2007, will complete his term in June.
Summers left the White House in 2010 and returned to Harvard, where he was once president and now teaches at the Kennedy School of Government.
Summers has taken some hits recently in insider books looking at the Obama administration. In her book “The Obamas,” Jodi Kantor reports that Summers repeatedly cut people off in debates about the economy and giving colleagues little time to comment on memos.
And in Ron Suskind’s “Confidence Men,” Summers’ career is described as “one long demonstration of the difference between wisdom and smarts.”