Larry Summers’s Billion-Dollar Bad Bet at Harvard


“Matthew Klein at WaPo reminds us of the reckless bet that Larry Summers made on interest rates when he was president of Harvard. The Harvard endowment suffered serious losses. These were the risky investments that Iris Mack warned Summers about in an email and which resulted in her getting fired. Summers is now being considered for chairmanship of the Federal Reserve, where he would be in charge of interest rate policy.”

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