Hedge Fund Paid Summers $5.2 Mil

Well, at least he paid his taxes. One of Barack Obama’s top economic advisers, Lawrence Summers, was paid over $5.2 million last year by the hedge fund D.E. Shaw, reports The Washington Post. The White House released financial disclosure funds Friday, which revealed Summers’ compensation for serving as the hedge fund’s part-time managing director after he resigned as president of Harvard University. The forms also showed that Summers received hundreds of thousands of dollars for delivering speeches at troubled Wall Street firms including JP Morgan, Citigroup, Goldman Sachs, and Lehman Brothers. White House aides said Summers’ speaking engagements occurred before he was officially part of the Obama transition team.