Thursday, April 2, 2009

Summers Overlooks "Frightening" Trades

Really interesting article at TPM about Iris Mack, a former quantitative analyst at Harvard Management Corp., which manages Harvard U.'s huge endowments. She didn't like the way HMC's money managers were trading derivatives, and complained in writing to then-Harvard President Larry Summers. She was accused of making unsubstantiated accusations and subsequently fired. He now serves as Director of the National Economic Council, and provides key economic advice to President Obama and Treasury Secretary Geithner.

(Edit: h/t Insta.)