Noted crony capitalist and sexist Lawrence Summers has dropped out of consideration to the next head of the Federal Reserve, quite possibly the most powerful position on the planet.

President Obama appeared poised to overlook Summers shortcomings, his failed recording in the Clinton White House and as President of Harvard, blowback from Democratic Senators and the opposition of most if not all progressives in this country. But thankfully, the President will not be allowed to make this appointment which could have been catastrophic for the progressive cause.

Now hopefully the President will turn to the well qualified Janet Yellen.