Saturday, April 4, 2009

Glenn Greenwald: Larry Summers, Tim Geithner and Wall Street's Ownership of Government

White House officials yesterday released their personal financial disclosure forms, and included in the millions of dollars which top Obama economics adviser Larry Summers made from Wall Street in 2008 is this detail:

Lawrence H. Summers, one of President Obama's top 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 by several troubled Wall Street firms and other organizations. . . .

Financial institutions including JP Morgan Chase, Citigroup, Goldman Sachs, Lehman Brothers and Merrill Lynch paid Summers for speaking appearances in 2008. Fees ranged from $45,000 for a Nov. 12 Merrill Lynch appearance to $135,000 for an April 16 visit to Goldman Sachs, according to his disclosure form.

That's $135,000 paid by Goldman Sachs to Summers -- for a one-day visit.

1 comment:

simonsays2 said...

That's quite the payday. Let's assume he was owed that amount for being such a key player in the meltdown so eloquently illustrated here on youtube > http://www.youtube.com/watch?v=Nay4VbUJl3E