The Obama Memos by Ryan Lizza

Original December 2008 memo to President-elect Obama by Larry Summers

Summers and "Senior Federal Reserve Officials" (Bernanke and Geithner?) recommended that the stimulus not be too big or else it would "spook" the public. Obama's mistake was to listen to them.

However I'd cut Obama slack. In the midst of disaster I'd probably have kept those guys on since they were in the process of saving the economy.