Difference between revisions of "Larry Summers"
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However, [[liberals]] since deny that as the cause of his termination, even though over a year later for the same reason they forced a rescission of an invitation for him speak to an academic audience.<ref>http://www.davisenterprise.com/articles/2007/09/14/news/114new1.txt</ref> | However, [[liberals]] since deny that as the cause of his termination, even though over a year later for the same reason they forced a rescission of an invitation for him speak to an academic audience.<ref>http://www.davisenterprise.com/articles/2007/09/14/news/114new1.txt</ref> | ||
=== Larry Summers - Corrupt and Incompetent Chief Economic Advisor to Obama === | === Larry Summers - Corrupt and Incompetent Chief Economic Advisor to Obama === | ||
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[[Lawrence Summers]] is the Director of the [[White House]]'s [[National Economic Council]] (NEC) for President Barack Obama. The NEC was established to advise the U.S. President on U.S. and global economic policy.<ref>http://www.whitehouse.gov/administration/eop/nec/</ref> | [[Lawrence Summers]] is the Director of the [[White House]]'s [[National Economic Council]] (NEC) for President Barack Obama. The NEC was established to advise the U.S. President on U.S. and global economic policy.<ref>http://www.whitehouse.gov/administration/eop/nec/</ref> | ||
Revision as of 05:25, August 24, 2009
Lawrence Henry ("Larry") Summers (b. 1954) is an economist who served as the Secretary of the Treasury in the final year and a half of the Clinton administration. From there he was selected to be the 27th President of Harvard University, considered to be the top position in academia.
He served as President of Harvard from 2001 to 2006, when he was forced to resign for merely suggesting that the wide disparities between men and women in science, math and engineering may be due to innate differences in their aptitude or preference for those fields. His mere suggestion of this, delivered in a speech to academics, caused an uproar by liberals that led to his ouster.
"I felt I was going to be sick," said MIT Biology Professor Nancy Hopkins, a biology professor at the Massachusetts Institute of Technology, who was in attendance at Summers' speech, which was organized by the National Bureau of Economic Research in Cambridge, Mass. "My heart was pounding and my breath was shallow," she said. "I was extremely upset."[1]
However, liberals since deny that as the cause of his termination, even though over a year later for the same reason they forced a rescission of an invitation for him speak to an academic audience.[2]
Larry Summers - Corrupt and Incompetent Chief Economic Advisor to Obama
Lawrence Summers is the Director of the White House's National Economic Council (NEC) for President Barack Obama. The NEC was established to advise the U.S. President on U.S. and global economic policy.[3]
A government watchdog group reports the following conflicts of interest of Larry Summers:
| “ | Larry Summers, the director of the National Economic Council, ...continues to accept large speaking fees from bailed out banks.
"Most of the companies paying Summers' speaking fees are found at top the list of contributors to politicians from both parties, leaving voters to wonder if there is anyone left who isn't in Wall Street's pocket."[4] |
” |
The Washington Post reported:
| “ | 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.[5] | ” |
Even the liberal publication The Nation declared concerning Obama's chief economic advisor Larry Summers:
| “ | In 1988, he was Michael Dukakis's chief economic advisor, but when that campaign failed to bring Summers to power, he turned to America's great rival, the former Soviet Union, to try out his economic experiments. In 1990, Lithuania, a restive Soviet republic seeking independence, hired Summers to advise on that country's economic transformation. Poor Lithuania had no idea what it got itself into. This was Summers's first opportunity to tackle a country in economic crisis and put his wunderkind theories into practice. The results were literally suicidal: in 1990, when Summers first arrived, Lithuania's suicide rate was 26.1 per 100,000 and falling. Just five years after Summers got his hands on Lithuania's economy, life became so unbearable under the economic transition that the suicide rate nearly doubled to 45.6 per 100,000, worse than any other ex-Soviet republic in transition. In fact, it was the highest suicide rate in the world, suggesting something particularly harsh and brutal about the economic transition in that country as opposed to the others, where suffering and pain were common. Things got so bad that in 1992, after just two years of Summers-nomics, the traumatized Lithuanians voted the communist party back into power, the first East European nation to do so--even though just a year earlier Lithuanians actually died on the streets fighting communism.
Fresh off his success in Lithuania, Summers moved to the World Bank, where he was named the chief economist in 1991, the year he issued his famous let's-pollute-Africa memo. It was also the year that Summers, and his Harvard protégé Andrei Schleifer (who worked with Summers on the Lithuania economic transformation), began their catastrophic "rescue" of Russia's crisis-ridden economy. It's a complicated story involving corruption, cronyism and economic devastation. But by the end of the 1990s, Russia's GDP had collapsed by more than 60 percent, its population was suffering the worst death-to-birth ratio of any industrialized nation in the twentieth century, and the financial markets that Summers and Schleifer helped create had collapsed in what was then the world's biggest debt default ever. The result was the rise of Vladimir Putin and a national aversion to free markets and anything associated with Western liberalism.[6] |
” |
References
- ↑ http://www.washingtonpost.com/wp-dyn/articles/A19181-2005Jan18.html
- ↑ http://www.davisenterprise.com/articles/2007/09/14/news/114new1.txt
- ↑ http://www.whitehouse.gov/administration/eop/nec/
- ↑ http://www.campaignmoney.org/blog/2009/04/06/larry-summers-speaking-fees-targeted-by-watchdogs
- ↑ http://voices.washingtonpost.com/44/2009/04/03/summers_raked_in_speaking_fees.html
- ↑ http://www.thenation.com/doc/20081124/ames
