Reuters is reporting that the often blunt Larry Summers will step down as Obama’s economic adviser at the end of the year, in what looks like a victory for his critics on the left. Rumors have it that Summers, criticized by many for being too close to Wall Street, was “bullying” his colleagues and shutting out people like Paul Volcker, the Rockefeller-connected banker with deep ties to the power elite, who is credited with stemming the runaway inflation of the 1980s by hiking interest rates as high as 21.5%.

This is the third economic aide to leave – the other two being Christina Romer, chair of the Council of Economic Advisers, and Peter Orzsag, budget director.

Summers will be returning to teach at Harvard, where he resigned as President in 2006, for  politically incorrect remarks about female abilities in math that many faculty members saw as discriminatory.