Sunday, April 05, 2009

The Political Class continues to run America

As I've been saying, President Obama promised change. But that change is certainly not seen in the likes of Ben Bernanke, Mike Froman and Tim Geithner. And in yet another demonstration of The Political Class running America:

Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million by hedge fund D.E. Shaw in the past year, financial disclosure forms released by the White House showed on Friday....

Summers, who was a part-time managing director of D.E. Shaw after stepping down as Harvard president, had speaking fees of $67,500 from JP Morgan, $45,000 from Citigroup, $135,000 from Goldman Sachs and $67,500 from Lehman Brothers, which went bankrupt in the mortgage crisis last year. (Reuters, by Roberta Rampton)

When Larry Summers is advising the President, for whom is he advocating?

Tim White

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