Keep in mind that this doesn’t even come from Fox News, but Fox Business. So take it with an entire salt mine, not just the grain:

Larry Summers may be the first high-profile departure from the Obama administration, Wall Street executives tell the Fox Business Network.

White House Press Secretary Robert Gibbs said Summers is staying put for now, but the unnamed Wall Street executives claim Summers is planning a departure from his post at the head of the President’s National Economic Council by the end of 2010. Fox Business’ Charles Gasparino speculates that he wanted to replace Ben Bernanke as Chairman of the Federal Reserve.

I don’t think there’s any doubt that Summers wanted the Fed chair. But that doesn’t necessarily mean he’s looking to leave the White House.

However, reasoning why Summers would want to do this, I can think of a lot of things – he probably feels that he has been unfairly vilified despite, in his view, stabilizing the economy, and if he can’t get credit for that he might as well go into the private sector. Surely there’s a windfall on the horizon, too.

Anyway, could be idle speculation, but it is a Friday afternoon.

David Dayen

David Dayen

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