Petraeus joins pro-fracking choir at Harvard’s Belfer Center

Harvard University announced this week that Gen. David Petraeus, former director of the CIA and current chair of private equity giant KKR’s global institute, has been appointed as a non-resident senior fellow at the Belfer Center for Science and International Affairs, a unit of the university’s Kennedy School of Government. According to the school’s press …

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The Summers “Aura of Wrongness”

Larry Summers, former Obama economic adviser and a leading candidate for World Bank president, neatly sums up the problem of regulatory capture in Washington, reflecting on his time at the Clinton Treasury: It was the practice of the Treasury to take advice from investment banks on bond market issues from others with a stake in …

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Harvard managers’ ties to counterparties deserve investigation

Larry Summers continues to refuse comment on his disastrous management of Harvard University’s finances, according to a lengthy Bloomberg article out Friday (aptly titled “Harvard swaps are so toxic even Summers won’t explain”).  The former Harvard president’s failed bets on interest rates led to a historic liquidity crisis last fall that forced the school to …

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Summers lost Harvard billions

The Boston Globe has an excellent piece on Larry Summers’ mismanagement of Harvard’s finances today.  As president from 2001 to 2006, Summers overstepped his presidential duties and pushed most of the university‘s cash into the market, against the frantic warnings of his investment chiefs.  These moves lost Harvard close to $2 billion. The article opens …

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