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 .
Larry Summers has dropped out of contention to head the Federal Reserve . David Gergen : Process of filling the crucially important job has been shameful . He says Summers ' reputation has been trashed and his merits ignored . Gergen : President Obama should now nominate Janet Yellen for the post .