Larry Summer was warned about dirivitive danger.

How about that wacky Larry Summer. He is currently serving his country as the Director of the National Economic Council. Mr Summer is also an assistant to the Prez for Economic Policy.
You might remember Mr Summer from his days as the President of Harvard when he honked off women by some remarks about them having "innate" differences from men which might prevent them from being successful in math and sciences. (Read about them here: http://www.boston.com/news/local/articles/2005/01/17/summers_remarks_on_women_draw_fire/)

Those remarks came in 2005. Recent history has even more golden nuggets about this guy. I recently learned that Mr Summers was warned about the danger of the dirivitive stocks that the Harvard Endowment was investing in. Seems that one Iris Mack, a quantatative analyst with a PHD from Harvard, was working for the Harvard Management Company which oversees the billions Harvard has in it's endowment fund. When she applied her knowledge to looking at where the money was, she grew "deeply troubled" at all the dirivitive mess and brought it to the attention of then-President Summer. She also asked that he not reveal her concerns because she was worried about keeping her job. Her letter to Summer's chief of staff was dated May 12, 2002. She was fired in July - Larry let the cat out of the bag and instead of giving this brilliantly educated woman any credence, they decided to can her.

Here are some links to learn about Iris Mack:
http://www.math.buffalo.edu/mad/PEEPS/mack_iris.html
http://www.ipcmath.org/mack.htm

The Harvard Crimson ran this story:
http://www.thecrimson.com/article.aspx?ref=527380

The Boston Globe picked up the story:
http://www.boston.com/business/articles/2009/04/03/ex_employee_says_she_warned_harvard_of_risky_moves/

Mr Summer was warned of the danger. Mr Summer also made a LOT OF FREAKIN' money (can you say "5.2 million" from some of the very hedge funds he is supposed to be "regulating".
http://capitalbeat.com/?p=3027

Maybe this is why my stomach hurt as I wrote a check to the IRS today. Knowing that this sumbitch is where he is makes me wonder what is going on in my country.
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