Summers In Line for `the Seneca Treatment'
April 6, 2009 • 10:27PM

Faced with President Obama's betrayal of the United States in London last week, powerful people in the United States have been talking; decisions have been taken to hit back, and, although people will not go after the President directly, they will peel off his apparatus, Lyndon LaRouche reported today.

This, said LaRouche, is the reason that Obama's economic svengali Larry Summers finds his crimes being put before the American people, day by day. Headlines like "Lawrence Summers for Sale" (Kansas City Star Ledger op-ed) are proliferating across U.S. regional press, as Summers comes to personify Obama's destructive bail-out of Wall Street and London. "The Emperor Nero is not a popular institution inside the United States. The lackey of an unpopular monarch is getting it," LaRouche noted.

Today's escalation came in the form of a carefully crafted front page article in the New York Times, "A Rich Education for Summers (After Harvard)"), documenting that Summers not only made $5.2 million, working one day a week for D.E. Shaw; he thinks like the hedge fund lunactics, and he is one of them.

Summers was D.E. Shaw's "marquee hire" that the Big Name clients could consult with privately. He "immersed himself in dynamic hedging" with D.E. Shaw's computer-driven "quants," as devotees of math-heavy quantitative investing are known, the New York Times tells us. Traders called him the first "quant" Treasury Secretary, because he had once ordered dollar bills to be printed with pi as the serial number. Computer science zombie David Shaw, founder of D.E. Shaw, thinks Summers is "brilliant."

Nor are Summers's links to the hedge funds limited to D.E. Shaw, the New York Times reports. At Harvard and at Shaw, he "cultivated a small circle of financial professionals —particularly hedge fund managers— to serve as an informal brain trust," with whom he still consults. Among them:

* Taconic Capital Advisors' founders Kenneth D. Brody and Frank P. Brosens. Summers consulted for Taconic from 2004-2006, and tried to get Brosen to run the federal program overseeing the $700 billion bailout funds; Bosen withdraw.

* Nancy Zimmerman. The New York Times identifies Zimmerman only as a "long-time friend and Boston hedge fund manager," but she, along with her husband, Harvard professor Andrei Schleifer, was a principal in the Summers Harvard Gang which looted Russia, as the LPAC TV short of that name develops—costing Harvard a cool $26 million.

* Laurence D. Fink, chairman and CEO of BlackRock, large money management company "that hopes to play a potentially lucrative role in the administration's bank rescue plan." We point out that Fink's BlackRock is an offshoot of Peter Peterson's Blackstone Group private equity fund, Peterson being one of America's leading opponents of Social Security and Medicare.

Summers might care to watch out for razors and bathtubs. "Anybody who can become inconvenient to Nero gets abandoned," LaRouche forecast.