“Larry Summers, a former top economic adviser to President Obama, is speaking, writing, consulting, advising, teaching and still in frequent contact with the president, and some of his friends say he is more than a little interested in the Fed job, reports WSJ.  But WSJ fails to point out that Summers may in reality not be that smart or caring. The Harvard endowment, when Summers was president of Harvard, lost substantial sums because of risky derivative positions that blew up on them. Iris Mack, then working for Harvard Management, which managed the endowment, warned Summers about the position in an email. He refused to lower the risk and Mack was fired.”

http://www.economicpolicyjournal.com/2013/07/wsj-report-larry-summers-hellbent-on.html

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