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The Presidential Search

That left only one issue: Summers’ temper. Rumors abounded of an explosive temper that had cowed and embarrassed underlings at the World Bank and the Treasury Department. It took a phone call from one of Harvard’s most powerful alums, Robert E. Rubin ’60—Summers’ predecessor as Treasury Secretary and now chair of Citigroup—to defuse the question. Rubin called three search committee members personally, reassuring Houghton, Daniel and Stone that the temper was now a non-issue, that Summers’ years in government had softened him.

The morning after the Boston Harbor meeting, the committee convened in its conference room at Loeb House to decide on a president. As the giant grandfather clock in the room chimed the passing hours, the committee debated the candidates and their respective merits. Who would bring what to the table? They kept coming back to Summers.

“Larry brought together a set of skills that were timely and right for Harvard for the next few years,” one committee member said.

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Around noon, the committee made its final decision. Gagnon and the two other Overseers stood and left: their job was done. Gagnon headed to the Coop to buy a Harvard sweatshirt. Oldenburg and Everhart went to check out of their hotels, leaving the Corporation alone for their regularly scheduled afternoon meeting.

And, around 1 p.m., President Neil L. Rudenstine—the seventh member of the Corporation—arrived for the afternoon’s meeting, bringing along Fineberg in his role as provost. Throughout the next two hours, the Corporation functioned normally. No one mentioned to Fineberg that a decision had been made.

The committee left Stone to contact Summers early that week and extend “the committee’s desire to see him serve,” as the Senior Fellow later phrased it. Stone called Summers, and then flew to Washington to make the offer again in person. For the next week, the committee waited anxiously for Summers’ decision.

“It’s the type of decision you don’t make overnight,” explained a committee member. “It’s a life decision. We thought he would be interested, but we didn’t have 100 percent confidence.”

Summers told them he was in.

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