Larry Summers Protested

by James & Miel on April 9, 2009 · 0 comments

Hi All,

This video has been making the rounds on the internet.

It’s a video of Obama White House adviser Larry Summers being subjected to a protest while he is giving a live audience interview. Lest one think the protest is in bad taste, it’s important to keep in mind that Summers is to some degree, emblematic of problems in the banking sector.

Summers is a Harvard trained business economist who’s been a long time Washington insider. The guy worked for Reagan, Clinton, and now Obama. More recently however, he’s been taking a LOT of money from hedge funds. For example, he earned more than $5 million from hedge fund D.E. Shaw and $2.7 million in speaking fees from several corporations (NYTimes) and accepted rides on Citigroup jets. He later argued to the Obama administration against caps on executive pay for firms receiving bailout funds.

In short, it’s starting to look like Summers is losing credibility. The protest does raise some good points.


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