Benzinga's Political Round Up

Larry Summers, President of the National Economic Council, announced yesterday he will be stepping down from his role, and returning to Harvard University. Former Xerox Corp. (NYSE: XRX) chief executive Anne Mulcahy quickly emerged as a leading candidate to replace Summers.

The SEC is being grilled by the Senate on Allan Stanford's alleged $8 billion Ponzi scheme.

Herb Allison has left the TARP program, saying he wants to return home and spend time with his family. Allison was the former CEO at Fannie Mae (NYSE: FNM) after having worked at Merrill Lynch for 28 years.

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