Friday, April 3, 2009

Is The White House In DE Shaw's Pocket?

Larry Summers, who was not only Tim Geithner's predecessor as the 71st Secretary of the Treasury (from 1999 to 2001), but also the 27th President of Harvard University, and is currently the top White House economic advisor and serves as a director of the National Economic Council, apparently has a fond place in his heart and bank account for his most recent employer, $30 billion rocket scientist infested hedge fund D. E. Shaw (nothing like signing an NDA before conducting interviews). In a financial disclosure just released by the White House, Larry highlights that not only was he paid $2 million in 2008 from 40 speaking assignments, including speeches paid for by Goldman Sachs and Yale University, but, more notably, received $5.2 million in compensation from D.E. Shaw - one of the funds eligible and likely to participate in the PPIP and TALF.

Summers joined DE Shaw on October 19, 2006 as a managing director of the investment and technology department. Larry has recently been in hot water, for not only preaching Friedmanomics (quoted as saying Friedman's real contribution was "convincing people in the importance of allowing free markets to operate") as his administration is currently doing away with Mark To Market and covertly nationalizing the major banks, but also for accepting perks from Citigroup such as free rides on its corporate jet, for telling Chris Dodd to do away with executive pay caps at TARP recipient banks, and for sending Paul Volcker an imaginary memo entitled "stuff it."

The full financial disclosure document is attached below. One curious thing to note is that either Larry was drunk or high when he signed it, or else this document is counterfeit, based on the signature for "L.H.S" which is obviously not that of Larry Summers.

For comparison I present Larry's signature in the disclosure document:



with his omnipresent signature from his Treasury Secretary days (check out the signature in the bottom right of any 9 year old dollar bill in your back pocket).



Regardless of this particular conspiracy theory, ZH will be closely following any and all preferential treatment that DE Shaw (and the entire hedge fund industry in general) receives going forward compliments of Mr. Summers and the Obama administration.

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14 comments:

Noble said...

None other than Adolf.

Anonymous said...

He must have been wasted.

Certainly a new way to print the date.

Maybe too many Oxy's.

Anonymous said...

He must have been wasted.

Certainly a new way to print the date.

Maybe too many Oxy's.

Anonymous said...

He must have been wasted.

Certainly a new way to print the date.

Maybe too many Oxy's.

Anonymous said...

He must have been wasted.

Certainly a new way to print the date.

Maybe too many Oxy's.

Anonymous said...

Holy cow. I just hit the button once and the comment showed up many times.

Sorry.

Anonymous said...

good grief, kooky conspiracy theories now slyler?,...come on, dont stoop to that level, you are better than that.

the LHS looks very similar in style to the L in Lawrence, H, and S in Summers to me. He just didnt write out the whole name. My signature is a mess also, and I would use a better one on the US dollar also.

Anonymous said...

Perhaps he did write those initials, but concern about the correctness of the info in it somehow blocked him from using his full signature?

Anonymous said...

What Larry Summers did for DE Shaw is more interesting than what Larry got paid. Former hedge fund manager David Goldman says his sources say Larry Summers was selling CDO's for DE Shaw: http://blog.atimes.net/?p=552

Anonymous said...

MSM is running a similar story with the same evidence.

http://www.huffingtonpost.com/2009/04/03/summers-received-hundreds_n_183058.html

It's incredibly sad and not the kind of transparency we need.

Central Bunk said...

Plain and simple - Its a form of warfare. Back in the day rulers commanded men to draw swords and defend their country. Now we plunder and impoverish our foes.

Anonymous said...

i think his signature on all those dollars when he was treas sec was actually counterfeit

ts said...

It's on the NYT now...

http://www.nytimes.com/2009/04/04/us/politics/04disclose.html

john bougearel said...

Thank you Tyler for connecting the dots betweeen Summers nad DE Shaw