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Billionaire financier Jeffrey Epstein socialized with the rich and powerful, harboring a sordid hidden life that came to light in 2008, landing him in prison for the solicitation of underage girls for sex. Epstein was infamous for his private Boeing 727 airliner nicknamed the “Lolita Express,” which ferried guests including Bill Clinton and a bevy of young girls allegedly pressed into prostitution at his Caribbean estate dubbed “Orgy Island.” His laughable 13-month sentence after being accused by more than 40 minor girls of sexual abuse is a testament to his connections in high places. Those guests included the aforementioned former...

Former Treasury Secretary Larry Summers predicted that if Donald Trump were elected, there would be a protracted recession within 18 months. Heeding its experts, a month before the election, The Washington Post ran an editorial with the headline "A President Trump Could Destroy The World Economy." Steve Rattner, a Democratic financier and former head of the National Economic Council, warned, "If the unlikely event happens and Trump wins, you will see a market crash of historic proportions." When Trump's electoral victory became apparent, Nobel Prize-winning economist and New York Times columnist Paul Krugman warned that the world was "very probably...

It’s en vogue for enraged liberals to compare Trumpism to Argentine Peronism, wielding the analogy as a warning about the potential apocalypse that they fear is about to engulf us. Most recently it was Larry Summers, a member of the Democratic establishment for decades, who took to Twitter to declare: “I worry about the Argentinization of US government.” Summers sent the tweet after President Trump accused Democrats of treason and the media reported on the president’s childish wishes for a military parade. He employed a standard characterization of Peronism as an authoritarian movement, a familiar depiction that no doubt had...

Digital Currency Group is busy these days. In the last four months alone, the company acquired the biggest bitcoin news site, CoinDesk, and along with it, the biggest bitcoin conference, Consensus; it also gave money to Coin Center, the bitcoin industry's nonprofit advocacy group. On Thursday, DCG announced a laundry list of new investors and additions to its team, and among them is one very big name: Larry Summers. Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, the crypto-currency...

Reply to Slander Being defamed by a UCLA Vice Chancellor for defending the Jews. April 20, 2016 David Horowitz    Today a letter attacking me was sent to all members of the UCLA community – that would be nearly 50,000 people I think – by Vice Chancellor for Equity, Diversity and Inclusion, Jerry Kang. The Vice Chancellor’s letter attacked me as a “provocateur” who last year “put up hostile posters accusing two student organizations — the Muslim Student Association (MSA) and Students for Justice in Palestine (SJP) — of being murderers and terrorists.” This is a lie. Actually it...

Former Treasury Secretary Larry Summers spoke at the International Monetary Fund on Wednesday, warning against austerity measures amid a tepid economy. Yahoo Finance sat down with him to get little more color on the economy and to find out what keeps him up most at night. “I think the prospect of Donald Trump being President would be the gravest threat to our prosperity, our security, and our freedom in my adult lifetime,” Summers said. “That's the thing I would worry most about.”

Inequality has risen. Jobs are going overseas. The more the stock market rises, the more the working class feels crushed by globalization. And all of this has occurred exactly as Democrats have engineered it. Stuff happens, they say. The truth hurts. Take it from Larry Summers, once one of President Obama's leading economic advisers: "One of the challenges in our society is that the truth is kind of an equalizer," Summers reportedly said in a candid moment in 2009. "One of the reasons that inequality has probably gone up in our society is that people are being treated closer to...

The title of the Washington Post op-ed wastes no time on subtlety: “Larry Summers: Donald Trump is a serious threat to American democracy.” The March 1 opinion piece by Lawrence H. Summers accuses the Republican presidential front-runner of, among other things, being a “thug,” a “demagogue,” and a threat to “the rule of law” and “democracy,” but feigns graciousness by opining that Trump is slightly better than Hitler and Mussolini on the thuggery scale.

The title of the Washington Post op-ed wastes no time on subtlety: "Larry Summers: Donald Trump is a serious threat to American democracy." The March 1 opinion piece by Lawrence H. Summers accuses the Republican presidential front-runner of, among other things, being a "thug," a "demagogue," and a threat to "the rule of law" and "democracy," but feigns graciousness by opining that Trump is slightly better than Hitler and Mussolini on the thuggery scale."While comparisons between Donald Trump and Mussolini or Hitler are overwrought," says Summers, "Trump's rise does illustrate how democratic processes can lose their way and turn dangerously...

Get rid of the $100 bill. Heck, maybe get rid of the $50 bill, too. So says Lawrence Summers, a former economic adviser to President Obama and ex-Treasury secretary. Summers points to research showing that corruption is aided by paper currency in larger denominations, such as Uncle Sam’s $100 bill and the 500-euro bill ($557 U.S. equivalent). How so? It’s easier for criminals and terrorists to move lots of cash illicitly in large bills. A million dollars in €500 bills weighs just 2.2 pounds, Summers writes in a blog post on the Washington Post website. The same amount of money...

One of the most surprising comments this year came from a closed session on fintech where I sat next to someone in policy circles who argued that we should move quickly to a cashless economy so that we could introduce negative rates well below 1% – as they were concerned that Larry Summers' secular stagnation was indeed playing out and we would be stuck with negative rates for a decade in Europe. They felt below (1.5)% depositors would start to hoard notes, leading to yet further complexities for monetary policy.

"...The most recent person to distance herself from the embattled MIT economist is Neera Tanden, president of the liberal Center for American Progress, who wrote an op-ed published in the Wall Street Journal Thursday claiming that “Mr. Gruber was not, as many claim, the architect of the health-care law.”......... [snip of her denial] [picking up with the facts].....According to Tanden, Gruber provided essential budgetary information that the Congressional Budget Office needed to score the bill. “The most important arbiter of everything was the C.B.O.,” Tanden told The New York Times for a profile of Gruber. “We knew the numbers he...

<p>Former Treasury Secretary Lawrence Summers told CNBC on Wednesday that Obamacare has already yielded benefits to the economy. He also said the Federal Reserve should concentrate on pushing the economy to expand.</p> <p>"If you look at the medium run and the long run, the important thing that's happened for growth is, that in the last three years since Obamacare was passed, we have bent the [cost] curve on health-care costs," he said in a "Squawk Box" interview.</p>

Larry Summers won’t be the next chairman of the Federal Reserve. On Sunday, he informed President Barack Obama that he was withdrawing his name from consideration. There were plenty of substantive reasons to oppose Summers’ possible selection, not the least of which was his role in creating our current Keynesian policy-driven economic malaise. Of course, the left complains that if only the 2009 “stimulus” had been much larger, something Summers opposed, we’d now be better off. Sure, guys. More Keynesian “stimulus” would only mean we’d now be reeling from even more than the $5.3 trillion in budget deficits and $6.1...

The S&P 500 is once again close to a record high, as investors welcomed the withdrawal of Larry Summers from the race to become next chairman of the Federal Reserve. [SNIP] Investors are excited at the prospect of top contender Janet Yellen taking over from current Fed chairman Ben Bernanke, since she is widely expected to pursue a similar policy of stimulating the economy to bring the unemployment rate down. Yellen is currently the Fed's vice chair.

Former Treasury Secretary Calls Obama, Cites 'Acrimonious' Coming Confirmation

U.S. President Barack Obama will name former Treasury Secretary Lawrence Summers as chairman of the Federal Reserve Board, Japan's Nikkei newspaper said on Friday. The newspaper, quoting unnamed sources, said in its original Japanese version that Obama was "in the final stages" and moving toward naming Summers. The English-language version said the president "is set to" name Summers as early as late next week. Debate in Washington has focused on whether Obama will pick Summers or Fed Vice Chair Janet Yellen to succeed Ben Bernanke, whose term as head of the U.S. central bank expires in January. The appointment must...

I am listening to Larry Kudlow's radio show and he just said his source says that Obama may select Taxcheat Timmy to head the Federal reserve despite the conventional wisdom that the job is either going to Janet Yellen or Larry Summers. Despite what you may think of his opinions, Larry has good sources.

(CNSNews.com) - Rep. Keith Ellison (D-Minn.) told a gathering of Democrats, “The bottom line is we’re not broke, there’s plenty of money, it’s just the government doesn’t have it.” Ellison was discussing his ‘Inclusive Prosperity Act’ measure at the July 25th Progressive Democrats of America roundtable in Washington. “People like, George Soros, Bill Gates, Warren Buffett, Paul Krugman, Joe Stiglitz, Jeffrey Sax, Dean Baker, Robert Poland, Larry Summers have said they all support a transaction tax,” Ellison said. “The bottom line is we’re not broke, there’s plenty of money, it’s just the government doesn’t have it,” Ellison continued, “The government...

<p>The word among Federal Reserve watchers right now is that the choice is down to Janet Yellen or Larry Summers as Ben Bernanke’s replacement. I can’t find anyone who really thinks it’ll be Roger Ferguson, Tim Geithner, Alan Blinder, or some other dark horse.</p>