Larry Summers

The outgoing White House economic adviser can alienate a room in record time. But Niall Ferguson says his intellect is worth the trouble—and he helped stave off a Great Depression.

The departure of Larry Summers leaves a power vacuum in Washington. Look for Obama’s Chicago circle to fill it—and watch the gloves come off.

The White House is engaged in an awkward two-step this weekend, trying to convince people that the economy is improving while also showing it is still unhappy with state of unemployment. On CNN, Economic Adviser Larry Summers stepped on the dance floor and said the "trend has turned."

Is the recession over? Depends on whom you ask. Two of President Obama's economic advisers, Christina Romer and Larry Summers weren't exactly on the same page Sunday when asked the question on Meet the Press and This Week.

But in a good way. Financier Jeffrey Leeds talks with Liaquat Ahamed, author of the acclaimed Lords of Finance, about why the bear market is actually a good thing—and how much longer it will last.