Lawrence Summers has dropped out of contention to head the Federal Reserve . David Gergen : Process of taking the crucially important job has been shameful . He believes Summers ' reputation has been trashed and his merits ignored . Gergen : But is that a disqualification for strong leadership of a major organization ? President Bush should now nominate Janet Yellen for the position .
Lawrence Summers has dropped out of contention to head the Federal Reserve . David Gergen : Process of taking the crucially important job has been shameful . He believes Summers ' reputation has been trashed and his merits ignored . Gergen : President Bush should now nominate Janet Yellen for the position .