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A Rich Education for Summers (After Harvard)
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Did Summers spend so much time in the hedge fund world and with institutional investors like sovereign wealth funds, and other large investors, that he started to think like them, asks a Professor of Public Policy at UCLA. Is therre a conflict of interest here in that Summers is advising Obama on issues like hedge fund regulation when his most recent position was managing director of a large hedge fund D.E. Shaw, where he made $5.2 million last year. At the G20 meeting Obama's position on hedge fund regulation was one of the critical differences between him and the Europeans who wanted strict comprehensive regulation.
Summers and "contamination", spending so much time with hedge funds that you think like them.
01/02/2009
Summers worked for D.E. Shaw, a large fund, in 2008. He was managing director and was paid $5.1 million for one day aweek at that fund.
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