Larry Summers did not get the Treasury post but he will take the role originated by Robert Rubin in the first Clinton Administration, chairman of the National Economic Council, a post held now by Ed Lazear. The Times goes one step further, quoting this trial balloon.
Mr. Summers is likely to be named as an economics adviser as well, two sources familiar with the Obama transition said, with the expectation that eventually he will be named to the Federal Reserve Board, perhaps as successor to Chairman Ben Bernanke.
