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By JEFF ZELENY
Published: April 3, 2009
WASHINGTON — Lawrence H. Summers, the top economic adviser to President
Obama, earned more than $5 million last year from the hedge fund D. E.
Shaw and collected $2.7 million in speaking fees from Wall Street
companies that received government bailout money, the White House
disclosed Friday in releasing financial information about top officials.
Mr. Summers, the director of the National Economic Council, wields
important influence over Mr. Obama's policy decisions for the troubled
financial industry, including firms from which he recently received
payments.
Last year, he reported making 40 paid appearances, including a $135,000
speech to the investment firm Goldman Sachs, in addition to his earnings
from the hedge fund, a sector the administration is trying to regulate.
The White House released hundreds of pages of financial disclosure
forms, which are required of all West Wing officials. A White House
spokesman, Ben LaBolt, said the compensation was not a conflict for Mr.
Summers, adding it was not surprising because he was "widely recognized
as one of the country's most distinguished economists."...
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