Wednesday, 22 October 2014
Last updated 12 min 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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