Plans For Next Summers

Who will replace outgoing White House chief economic adviser Larry Summers?  Reuters says the list has been narrowed down to three:

The White House is narrowing its list of possible replacements for outgoing economic adviser Larry Summers to Yale University President Richard Levin, investment banker Roger Altman and U.S. Treasury official Gene Sperling.

Levin has met with President Barack Obama to discuss a job in the administration, a senior U.S. official said on Tuesday.

Altman has also met with the president. Sperling, a former Clinton administration official, has helped spearhead Obama's push for a legislative package to extend tax cuts enacted under Republican former President George W. Bush and unemployment benefits.

Of the three, the one you'd want is Rick Levin, who would convince Obama to do something about job creation.

Yale President Richard Levin, who is reportedly being considered for an economic post in the Obama administration, believes the government should give companies direct incentives to create jobs, according to a prominent colleague at the university.

Speculation about a Levin appointment has been swirling since Bloomberg News reported last week that the Yale economist had discussed "economic positions" with the president. If Levin were to replace outgoing National Economic Council director Larry Summers, his appointment would signal an ideological shift for the administration, a move toward a policy of tight Wall Street regulation, proactive job creation and consumer protection.

Levin would be a great choice, which naturally means the smart money is on the guy behind the Obama tax cut deal:  former Goldman Sachs executive and current Treasury official Gene Sperling.  Tyler Durden:

Of course, our money is on Sperling: after all he is Goldman's guy, and Goldman is in dire need of replacing its agents in the administration. After all, it took Jan Hatzius almost one year to get heard over the din and start dictating US fiscal and monetary policy. We are confident Goldman will want a faster turnaround the next time it determines a change in policy is required.

Sperling has made his share of Wall Street cash. Before becoming adviser to Treasury Secretary Tim Geithner, he did time at Goldman Sachs. The year before taking office, he reportedly earned nearly $900,000 as a Goldman consultant.

I'd want Levin.  We'll get Sperling.  Count on it.