THAT is PRECISELY the notion the NEW YORK TIMES is selling - that Lawrence Summers is a "BRILLIANT" former Treasury Secretary, Harvard University President, and current Obama admin. chief economics advisor - because the NY Times is in CAHOOTS with Mr. Summers and his Wall Street/Goldman-Sachs friends to DEFRAUD AMERICANS of TRILLIONS of taxpayer dollars.
Just how "BRILLIANT" do you have to be, to be FIRED from being president of one of America's most prestigious universities, and, shortly after you were run off, have it discovered that your 'leadership' of that University's endowment had PLUNGED THAT ENDOWMENT into THE CESSPIT of "investment" folly, "investments" in FRAUDULENT DERIVATIVES and highly over-valued assets - the same TOILET of financial garbage that has RUINED the American economy?
Needless to say, THAT notion - that Lawrence Summers, the former Clinton Treasury Secretary (1998-2000) who went on to be the President of Harvard University, where he actively pushed the Harvard endowment to purchase the very "DEREGULATION" type of "DERIVATIVE" 'securities' that were often actually EXTREMELY TOXIC INSURANCE CONTRACTS - with POTENTIALLY MILLIONS of dollars of __LIABILITIES__ posing as "safe" Mutual Funds! - that would have been ILLEGAL... but for the DEREGULATION laws that Summers, his predecessor at Treasury and fellow Obama advisor Robert Rubin, and uber-Right-Wing Republican PHIL GRAMM had all pushed all through the 1990s.
("Deregulation" Gramm-Leach-Bliley Act; Commodity Futures 'Modernization' Act of 2000, "Enron Loophole" Phil Gramm, Ken Lay, Lawrence Summers Robert Rubin, Goldman Sachs,
(for the textbook explanation of how Wall Street FRAUDSTERS sold HIGHLY RISKY "derivative contracts" as "GRADE-A SECURITIES to unsuspecting county school board retirement funds, see Les Leopold's "THE LOOTING OF AMERICA")
Note the New York Times' folksy, conversational writing of this VITAL story, "THE WHEELS are COMING OFF of ANOTHER Lawrence Summers FINANCIAL ATROCITY... AGAIN!" story:
"By all accounts, much of the tension derives from the president’s choice of the brilliant but sometimes supercilious Mr. Summers to be the director of the National Economic Council, making him the policy impresario of the team.""BY ALL ACCOUNTS, Lawrence Summers is a CAD who SHOULD BE FACING TRIAL or at least censure for ENABLING MASSIVE SECURITIES FRAUD, but the NY Times AT EVERY STEP OF THE WAY has been "IN" on THE finanical LOOTING of America - as a (formerly) billion-dollar NY headquartered corporation they are FINANCIAL ALLIES of GOLDMAN SACHS and the "lesser" Wall Street financial institutions.
If there were justice in this world, Lawrence Summers would be facing trial for SECURITIES FRAUD, and the New York Times writers, editors, and publishers would be experiencing BANKRUPTCY, FORECLOSURE, and DENIAL of Health-care coverage for LIFE-THREATENING illnesses... but as we know, SLAVERY and economic enslavement have been part of the human condition for the vast majority of human history (indeed, due to our swelling world population, there are actually MORE PEOPLE in BONDAGE TODAY, than at any time in world history!) - and as so often in history, apex predators and con-men, such as the NEW YORK TIMES and their WALL STREET FLIM-FLAM ALLIES today - INCLUDING LAWRENCE SUMMERS - often live large on the sweat and production of others, if only because they were born into privilege and access.
(Also compare Lawrence Summers' role at the CENTER of MASSIVE, national economy KILLING economic FRAUD, with the INDICTMENT, PROSECUTION, and CONVICTION of MARTHA STEWART... for allegedly "dumping" a LOUSY $55,000 worth of ImClone stock that Ms. Stewart had EVERY RIGHT TO SELL, at ANY TIME, on ANY 'tip', FROM ANYONE, because she had NO, NADA, ZERO FIDUCIARY CONNECTION TO ImClone at the time she sold here $55,000 of shares.)
THE NEW YORK TIMES, as Neo-Con ENABLERS of the Bush-Cheney administration, CHEERED the POLITICAL LYNCHING of MARTHA STEWART... and now try to portray the DROSS, FRAUD, and abject CORRUPTION of LAWRENCE SUMMERS as "brilliant" !!
NY Times TRIES to WHORE "Lawrence Summers IS BRILLIANT!" meme - in an article that actually points out that the WHEELS ARE FALLING OFF of President obama's LAWRENCE SUMMERS designed ECONOMIC "Bailout the banksters WITH NOT ONE SINGLE AUDIT" FOLLY!! -
Obama’s Economic Circle Keeps Tensions Simmering
by Jackie Calmes
Published: June 7, 2009
http://www.nytimes.com/2009/06/08/us/politics/08team.html
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