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By Erich Vieth on April 12th, 2009
Frank Rich on the character of Larry Summers
In today’s NYT, Frank Rich is reminding us of the sordid background of one of the architects of Barack Obama’s economic recovery program. These are sad times, indeed.
Lawrence Summers, the president’s chief economic adviser, made $5.2 million in 2008 from a hedge fund, D. E. Shaw, for a one-day-a-week job. He also earned $2.7 million in speaking fees from the likes of Citigroup and Goldman Sachs.
[P]erhaps I’ve become numb to the perennial and bipartisan revolving-door incestuousness of Washington and Wall Street.
That the highly paid leader of arguably America’s most esteemed educational institution [Harvard]would simultaneously freelance as a hedge-fund guy might stand as a symbol for the values of our time.
- Frank Rich: Rod Blagojevich is a small fry in our metastacizing culture of corruption
- Jeffrey Sachs trashes the Geithner-Summers plan
- Frank Rich: It’s time to dig up Bush’s buried bodies
- Frank Rich on the media’s pursuit of balloon boy
- Larry Bates offers his prescription for End Times woes: buy and eat silver
