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{{cquote|Lawrence Summers, the chairman of President Obama's Council of Economic Advisers, collected roughly $5.2 million in compensation from hedge fund D.E. Shaw over the past year and was paid more than $2.7 million in speaking fees from several troubled Wall Street firms and other organizations.<ref>http://voices.washingtonpost.com/44/2009/04/03/summers_raked_in_speaking_fees.html</ref>}}

{{cquote|Lawrence Summers, the chairman of President Obama's Council of Economic Advisers, collected roughly $5.2 million in compensation from hedge fund D.E. Shaw over the past year and was paid more than $2.7 million in speaking fees from several troubled Wall Street firms and other organizations.<ref>http://voices.washingtonpost.com/44/2009/04/03/summers_raked_in_speaking_fees.html</ref>}}

== Larry Summers and Leftist Economics ==

== Larry Summers and leftist economics ==

George Gerald Reisman, Professor Emeritus of Economics at [[Pepperdine University]] and author of Capitalism: A Treatise on Economics, wrote that Summers socialistic ideas on redistributing wealth demonstrate that Summers is a "lightweight leftist" who "fails to understand the nature of the most essential feature of capitalism, namely, private ownership of the means of production and the indispensable role it plays in the standard of living of the average person."<ref>http://blog.mises.org/archives/009031.asp</ref>  Reisman also wrote that Summers is a shallow and ignorant man whose knowledge of economics is minimal and whose evil views qualify him to be the economic advisor to [[Hugo Chavez]] of [[Venezuela]] or [[Robert Mugabe]] of [[Zimbabwe]], but do not qualify him to be an economic advisor to the President of the United States.<ref>http://blog.mises.org/archives/009031.asp</ref>

George Gerald Reisman, Professor Emeritus of Economics at [[Pepperdine University]] and author of Capitalism: A Treatise on Economics, wrote that Summers socialistic ideas on redistributing wealth demonstrate that Summers is a "lightweight leftist" who "fails to understand the nature of the most essential feature of capitalism, namely, private ownership of the means of production and the indispensable role it plays in the standard of living of the average person."<ref>http://blog.mises.org/archives/009031.asp</ref>  Reisman also wrote that Summers is a shallow and ignorant man whose knowledge of economics is minimal and whose evil views qualify him to be the economic advisor to [[Hugo Chavez]] of [[Venezuela]] or [[Robert Mugabe]] of [[Zimbabwe]], but do not qualify him to be an economic advisor to the President of the United States.<ref>http://blog.mises.org/archives/009031.asp</ref>