Summers • recession over! — except in housing and jobs • Zuckerberg & the charter scam Summers back to Harvard So Larry Summers is leaving as head of Obama’s National Economic Council. Everyone who talks about Summers assures us that he’s a very smart fellow, though he left Harvard, where he was president for five years, a financial wreck. (Background here, here, and here.) He’d advised the endowment to borrow heavily to speculate in derivatives that went sour, yielding billions in losses. But, as everyone will tell you, Larry is very smart. He did help… Read More
More of the same: economic weakening, and rewarding hacks. The November employment report was a stinker.