Summers at the Fed? In Heaven's Name, Why?

It’s not as if there are no good reasons for President Obama to pick Larry Summers to replace Ben Bernanke as Federal Reserve chairman. Summers is a supersmart economist, for one. And as Washington Post columnist Ezra Klein points out, Summers’ experience in the Obama and Clinton administrations makes him a financial crisis veteran. And you never know when the next shock — we’re looking at you, euro zone — will hit.