Posted on 04/04/2009 10:23:02 AM PDT by NormsRevenge
WASHINGTON (AFP) – The top White House economic adviser Lawrence Summers received more than five million dollars last year from the hedge fund D.E. Shaw and collected 2.7 million in speaking fees from Wall Street firms benefiting from government bailout money, The New York Times reported Saturday.
Citing new financial information about top officials in the administration of Barack Obama, the newspaper said Summers had made 40 paid appearances, including a speech to the investment firm Goldman Sachs, for which he was paid 135,000 dollars.
Summers, a former president of Harvard University and treasury secretary in the Clinton administration, leads the National Economic Council, which advises the president on the economy, including company bailouts.
Summers?s payments include 45,000 dollars from Citigroup .. 67,500 dollars from .. J.P. Morgan and Lehman Brothers each
.. paid 90,000 dollars to address an organization of Mexican banks..
(Excerpt) Read more at news.yahoo.com ...
Well, I guess ol’ Lawrence, one of the supposed pre-eminent economists of the day hence why conflict-of-interest is said not to apply here, won’t be needing a ‘bail-out’ anytime soon.
US President Barack Obama (left) with White House National Economic Council Lawrence Summers on the South Lawn of the White House in Washington, March 2009. Summers received more than five million dollars last year from the hedge fund D.E. Shaw and collected 2.7 million in speaking fees from Wall Street firms benefiting from government bailout money, The New York Times reported. (AFP/File/Yuri Gripas)
At the very least this sounds like a huge conflict of interest. Can you spell h-y-p-o-c-r-i-s-y boys and girls?
The most ethical, the most competent, and the smartest President and administration ever. (extreme sarcasm).
What can ya say?
Clinton Term III
Hussein II.
On fox news this morning they were saying that merryl lynch gave 3,6 BILLION in bonuses before asking for goverment money..
Hedge fund paid Obama adviser Summers $5.2 mln
Reuters | April 3, 2009 | Roberta Rampton
Posted on 04/03/2009 4:45:35 PM PDT by bobsunshine
http://www.freerepublic.com/focus/f-news/2221909/posts
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