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 …
Tag: Summers
Mediator Summers?
Yesterday the New York Times reported that Christine Varney, the new antitrust chief at Justice, was running into resistance as she attempted to do her job (frowned upon in the halls of power). The most significant dispute appears to have occurred between her and the Transportation Department, which approved an “antitrust immunity request” against Varney’s …
Story gets it wrong on Summers
Following on Saturday’s weather balloon detailing the Wall Street pay of Larry Summers, today the Times ran a piece on Summers’s work at the hedge fund DE Shaw. Replete with color from inside sources and spare in its critical content, the article is a striking example of journalistic capture; after discussing Summers’ ludicrous compensation ($5.2 …