ensure he would be confirmed. as many as five democrat senators on the senate banking committee said that they planned to oppose summers' nomination. when that news came out, summers withdrew his name from consideration saying the president would have to expend too much political capital in order to get him confirmed. >> some of the president's closest advisers have expressed concern about fresh leadership and the fact janet yellen has been involved with so many of the current policies that that might not be the best direction. do you agree with that? >> oh, no. i think what the fed needs right now is continuity. they have made good policy changes over the last year, of which yellen has been a key architect, that have given clarity about low interest rates for time to come. and that's, i think, what wall street wants. people think of summers as having been a candidate that was aligned with the banks. when you talk with people on wall street, you hear they think janet yellen provides good economic stability. the stock market went up a lot when summers withdrew and that's when we knew yellen would get this nomination.