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The widening circle applauding megamillionaire Larry Summers –of Harvard University, Washington, D.C. and Wall Street – agrees on one word to describe the colossal failure – Brilliant! That circle includes Barack Obama, who appointed Summers in 2009 to be his chief economic advisor, Bill Clinton, who made him Secretary of the Treasury, and the Harvard Board of Overseers, who named him president of Harvard University in 2001.
With Clinton and his promoter, Robert Rubin, who preceded him at the Treasury post before making over $100 million at Citigroup, Summers brilliantly deregulated Wall Street in 1999 and 2000 thus setting up one of corporate capitalism’s most harmful speculative binges.
