Obama adviser paid millions as hedge fund director

[babsbunny]

http://news.yahoo.com/s/ap/20090404/ap_on_go_pr_wh/white_house_financial_disclosures

WASHINGTON – Lawrence Summers, President Barack Obama's top economic adviser, earned millions over the past year as managing director of the hedge fund D.E. Shaw Group and through speaking fees, some from financial institutions now at the center of the government's rescue program.

Financial disclosure reports released by the White House show that Summers received $5.2 million from D.E. Shaw. He also reported payments for appearances before institutions such as J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers.

[lostnotforgotten]

1. How Can A Hedge Fund Director Be Fair When Making Main Street Decisions?

eom

[xchrom]

2. recommend

[JanMichael]

3. Lawrence Summers is a true piece of shit. Why did Obama choose him?

I doubt I'll accept any answer supporting this decision by the god of DU.

[dixiegrrrrl]

4. Because Goldman Sachs runs the government?

[JanMichael]

5. Ding ding ding ding!

You nailed it.

[MannyGoldstein]

6. Summers Is A Cancer

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=8320035&mesg_id=8320035

[Djinn]

7. much as I loathe Summers

this ISN'T about him.

To be even considered in the running to contest a Presidential election you need HUNDREDS OF MILLIONS of dollars. The people who have that kind of money to give have agendas.

It's a distraction to view this as a Summers thing. It is ingrained in US politics utterly and completely.

[Orwellian_Ghost]

8. This is correct

for such information to be helpful folks have to understand and own up to your point. Summers could be lanced from the government tomorrow and not a thing would be altered.

[emilyg]

9. kick

[ShareTheWoods]

10. As the cricket chirps

the top rung on the ladder rests peacefully alone.