The Carousel of Fraud

It has recently been revealed that Larry Summers, President Obama’s chief economics adviser, was paid roughly $5.2 million by hedge fund D. E. Shaw in the past year and collected $2.7 million in speaking fees in 2008 from various institutions and corporations, including troubled financial giants like Merrill Lynch, Goldman Sachs, Citigroup, J. P. Morgan Chase and Lehman Brothers.

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