U.S. Equity market is going to the moon on this news.
Obama just proved that he is either the dumbest man on the planet or he's the biggest liar and thief.
Nothing in between.
President Obama said he had spoken with Summers earlier Sunday and accepted his resignation.
"Larry was a critical member of my team as we faced down the worst economic crisis since the Great Depression, and it was in no small part because of his expertise, wisdom, and leadership that we wrestled the economy back to growth and made the kind of progress we are seeing today," the president said in a statement. "I look forward to continuing to seek his guidance and counsel in the future."
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