Larry Summers 'Failing Up' to the Fed

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Larry Summers ‘Failing Up’ to the Fed

Larry Summers ‘Failing Up’ to the Fed

Mess Up at One Job, Get a Better One

 

WSJ-

If you saw the movie “The Social Network,” you saw a portrayal of the Winklevoss twins complaining to Harvard President Larry Summers that some twerp named Mark Zuckerberg stole their idea for Facebook.

Mr. Summers shooed them away, not recognizing the value of the website, which turned out to be worth billions, or their claim against Mr. Zuckerberg, which became worth a couple hundred million.

In 2006, Mr. Summers resigned as Harvard’s president following a faculty no-confidence vote. He’d sparked one controversy after the next, the least of which was suggesting that women didn’t have the aptitude for math and science.

He also supported a Harvard professor who bought Russian stocks while designing Russia’s privatization plans—a scandal that led to Harvard paying $26.5 million to settle a False Claims Act lawsuit. Then he lost Harvard about $1 billion by investing its money in derivatives—instruments he wanted to keep deregulated during his days in the Clinton administration.

[WALL STREET JOURNAL]

image: downwithtyranny.blogspot.com

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2 Responses to “Larry Summers ‘Failing Up’ to the Fed”

  1. Sarah says:

    The fact this schlump is up for consideration should outrage the public, if they would only wake up, or give a darn.

  2. What can I say, but a great photo! Surprised he is not dead instead of asleep. WOW loose a billion and get promoted. Wonder what is in his pocket.

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