First, there is a thoughtful post by the ever-impressive Daniel Larison at The Week, which interprets Obama's behavior at the Summit as calculating and wise. Second, there is speculation that Obama is playing hardball with the new Israeli government, something

For those of you who missed it (and missing it was simple, because the US media completely ignored it), Jeff Stein of CQ Politics broke a story alleging that Rep. Jane Harman (D-CA) had been overheard (via NSA wiretap) promising an Israeli agent that she would "waddle into" into an ongoing case, in which two AIPAC lobbyists have been accused of spying on the US government. In return, the Israeli agent promised to lobby Nancy Pelosi to make Harman the chairwoman of the House Intelligence Committee. Quite the quid pro quo, especially considering it would essentially mean that foreign government had played a major role in installing the leader of a vital intelligence oversight body. But what does all this have to do with Obama?
The story goes on to say that then-Attorney General Alberto Gonzales aborted an FBI investigation into Harman, because "he needed Harman’s help defending the administration’s warrantless wiretap program." So the case was dead. How are we coming to know about it now?
Enter Philip Giraldi's post on the American Conservative Blog:
"My spook friends are speculating wildly but the theory that seems to make the most sense is that the White House is extremely angry about the Netanyahu government’s trashing of the peace process and also by his appointing of former Mossad spies Naor Gilon and Uzi Arad to senior positions, as both were involved in the Larry Franklin/AIPAC case. The Administration is apparently seeking to demonstrate that it will not be pushed around by Bibi and is showing that it has teeth by taking aim at a prominent Dem politician who stepped over the line in demonstrating her enthusiasm to play ball with AIPAC. This is pretty much speculation at this point, but I have heard from several independent sources that the White House is extremely vexed with Netanyahu and is going to tell him that his delaying tactics on substantive negotiations with the Palestinians will not be acceptable, so it might seem likely that a little pushback is taking place. Whether the Obamas will allow Harman to walk the plank remains to be seen."
Though this is entirely speculative, it seems plausible. The Obama team has shown that it's willing to let other Democrats take the fall in order to strengthen their position (read: Chris Dodd and the AIG bonuses). And the Israeli government seems to be responding in kind, with the new Foreign Minister saying that "the US will accept any Israeli policy decision." We may never know if this is what's really going on, but it's worth considering.