Summers taking care of business - Mercedes-Benz Forum

 
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post #1 of 2 (permalink) Old 04-03-2009, 08:24 PM Thread Starter
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Summers taking care of business

His business.


Quote:
WASHINGTON — Lawrence H. Summers, the top economic adviser to President Obama, earned more than $5 million last year from the hedge fund D. E. Shaw and collected $2.7 million in speaking fees from Wall Street companies that received government bailout money, the White House disclosed Friday in releasing financial information about top officials.

...
Mr. Summers, a former president of Harvard University, was Treasury secretary in the Clinton administration. He appeared before large Wall Street companies like Citigroup ($45,000), J. P. Morgan ($67,500) and the now defunct Lehman Brothers ($67,500), according to his disclosure report. He reported being paid $10,000 for a speaking date at Yale and $90,000 to address an organization of Mexican banks.

While Mr. Obama campaigned on a pledge to restrict lobbyists from working in the White House, a step intended to reduce any influence between the administration and corporations, the ban did not apply to former executives like Mr. Summers,
http://www.nytimes.com/2009/04/04/us...se.html?ref=us
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post #2 of 2 (permalink) Old 04-04-2009, 02:46 PM
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He was not part of the public sector during that time. Are you sad that he actually profited on a Hedge Fund when most failed?

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