Summers deciding not to seek the Fed position was interpreted as good news however the fact that the Fed was discussing how to go about tapering was bad news. I guess the bad news over shadowed the good news. For one, we have no idea who will replace Summers so it may not be the case that not having a known bad thing means that a bad thing was avoided. For all we know the person that Obama chooses now could be even worse. Keep in mind that Obama has not been known for his wise choices unless someone makes them for him. And from what I can tell lately he has been telling his staff "no, I want to do it myself." Not good. In other words, it seems that Obama has been kicking over his staff's carefully constructed sand castles lately. Maybe we need better supervision on the play ground.