President Obama's handpicked National Economic Council chair, Larry Summers, is on the way out the door. The last person to man NEC directorship explains what goes into the job and the qualities Obama will need to find in the next director.

By Keith Hennessey, contributor

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A close advisor to President Obama calls you.  "Larry Summers will soon leave his job as Assistant to the President for Economic Policy and Director of the White House National Economic Council," this person says.  "I'm calling to see if you have any interest in serving the President in that capacity.  If you do, I'll set up a meeting for you with the President."

You are savvy enough to know that saying yes to the meeting means you're committed to taking the job if offered.  If you don't want the job you need to say so before the offer is made.

You have heard frequently that Larry Summers has been the President's top economic advisor, but you don't really know anything about the job.  Here are five things to know about the job of White House NEC Director.

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