-->

• Economist Lawrence Summers is the director of President Barack Obama's National Economic Council. CNN: Obama names his economic team (November 24, 2008)

  While speaking at the Economic Club of Washington on April 9, 2009, Summers was interrupted when a large pink sign stating, "we want our money back" was placed behind him by a man and woman, who persistently heckled him. They stated "Larry Summers is part of the problem," and called for him to resign.YouTube Video: Obama Economic Adviser (Time: 1:19)

• Fast Facts

  1. Full name: Lawrence Henry "Larry" Summers
  2. Born: November 30, 1954 in New Haven, ConnecticutTimes Online: Harvard chief in row over women's IQ quits (February 22, 2006)
  3. 1975: Massachusetts Institute of Technology bachelor's degree
  4. Ph.D. in Economics from Harvard in 1982Times Online: Harvard chief in row over women's IQ quits (February 22, 2006)
  5. Youngest tenured professor in Harvard's history in 1983The New York Times: Harvard's New President (March 13, 2001)
  6. Served as the Secretary of the Treasury during the Clinton administration
  7. Chief Economist at the World Bank from 1991 to 1993
  8. 1993 recipient of the John Bates Clark Medal for his work in macroeconomicsFinancial Times: Columnists - Lawrence Summers (Collected FT Articles)
  9. 27th President of Harvard University from 2001 to 2006
  10. Married Harvard English professor Elisa New in December 2005
  11. Vigorous proponent of Free Trade and Globalization

• Stabilizing Economy?

  In an address on March 13, 2009, to the Brookings Institution, Summers insisted that the economy was stabilizing and urged Americans to focus on optimism while continuing to reign in excess. He referred to the present economic situation as a transition from "an excess of greed" to "an excess of fear," and likened the conditions to those faced by Franklin D. Roosevelt in the aftermath of The Great Depression.Washington Post: Summers: Obama's Plan May Have Stabilized Consumer Spending (March 13, 2009)

• Car Czar Plans

  On February 15, 2009, the Obama administration announced that they would scrap plans for a "Car Czar" and instead name a panel to track the issues dealing with the exercising of the automaker bailout. Summers and Treasury Secretary Timothy Geithner will oversee the project.New York Times: G.M. Pushes Auto Union for Concessions in Restructuring (February 16, 2009)

• Obama Stimulus Plan

  In January 2009, Summers was making the media rounds to explain and defend President Obama's stimulus plan. Summers said that the plan was a balance between short-term help such as tax cuts and long-term help such as investment in education and renewable energy sources. However, despite this effort, many prominent Republicans, including Senator John McCain, have stated that they will not vote for the package in its current form because it contains too much spending and not enough tax or spending cuts.Obama needs, at minimum, two Republicans to vote for the plan to ensure a 60-vote, majority that will prevent any attempts at a filibuster. New York Times: Republicans Are Resistant to Obama’s Stimulus Plan (January 25, 2009)

• Controversy at Harvard

  Upon taking the reins at Harvard, Summers immediately stoked controversy by criticizing African-American Studies professor and author Cornel West in a private meeting by accusing him of missing too many classes, and not publishing relevant scholarship. West eventually left Harvard to return to his former employer, Princeton University. In 2005, Summers again came under fire, this time for suggesting that men's innate abilities explained the higher proportion of men in engineering and science programs. After the Harvard faculty passed a no-confidence vote concerning Summers, the economist stepped down from his post at the beginning of 2006.Times Online: Harvard chief in row over women's IQ quits (February 22, 2006)

• Related Pages on Mahalo

  Alan Greenspan | Inflation | Al Gore | Harvard University | Bill Clinton | U.S. Treasury Department | Joseph E. Stiglitz | U.S. Department of the Treasury | Obama Transition Team | 2009 Stimulus Package | Obama Economic Plan | Neal Wolin | Checking Stimulus Early

Categories

• View History
• Discuss on the Message Board
• Embed this Page
• Share this page