Sunday, 2 August 2015
Last updated 1 day ago
Apr 6 2009 | 2:08am ET
A top economic adviser to President Barack Obama earned more than $5 million working part-time for a hedge fund last year.
According to financial disclosure forms released by the White House on Friday, Lawrence Summers, chairman of Obama’s Council of Economic Advisors, was paid about $5.2 million by New York-based D.E. Shaw Group. Summers, who served as Treasury secretary under President Bill Clinton, joined the hedge fund as a managing director in 2006, after he resigned as president of Harvard University.
Summers also made some $2.7 million in speaking fees, including $135,000 from Goldman Sachs, $67,500 each from JPMorgan Chase and Lehman Brothers, and $45,000 from Citigroup.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…