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THINK WE'RE GOING TO CHECK
IN WITH ONE OF OUR
CORRESPONDENCE.
WHY DID HE DECIDE TO WITHDRAW
HIS NAME?
>> WELL, FRED, LARRY SUMMERS WAS
CONTROVERSIAL.
HE'S THE FORMER TREASURY CHIEF
WHOSE NAME WAS
MENTIONED AS THE NEXT PRESIDENT
OF THE FEDERAL RESERVE.
SOMERS WAS THOUGHT TO BE A
FAVORITE OF PRESIDENT OBAMA.
HE SERVED THIS PRESIDENT AS
ECONOMIC ADVISOR.
SEVERAL SOURCES NOW TELLING CNN
SOMERS HAS WITHDRAWN HIS NAME.
AS YOU MENTIONED, FREDRICKA,
THREE DEMOCRATS REKENTLY SAID
THEY WOULD NOT GUILTY SU NOT
GUILTY KNNOT SUPPORT SOMERS.
HE HAS BECOME CONTROVERSIAL
BECAUSE OF HIS STATEMENTS ABOUT
WOMEN.
NOW, THE WALL STREET JOURNAL HAS
PUBLISHED A STATEMENT SFR SOMERS
IN A LETTER, APARENTALLY, THAT
HE HAD DELIVERED TO THE
PRESIDENT OF THE UNITED STATES.
IN IT, HE SAYS I HAVE
RELUCTANTLY CONCLUDED THAT ANY
POSZ CONFIRMATION PROCESS FOR ME
WOULD NOT SERVE THE INTEREST OF
THE FEDERAL RESERVE,
ADMINISTRATION OR ULTIMATELY,