Larry Summers isn’t wasting any time.
Not even a year after announcing his resignation from the position of Obama’s Chief Economic advisor (partly because of his close ties with Wall Street), the former Harvard president will be the keynote speaker at May’s 17th annual Alpha Hedge Bermuda Global Hedge Fund Summit.
It should be more than a fun vacation. Summers gets paid well to speak to Wall Streeters.
From Vanity Fair:
For instance, in April 2008, Summers spoke at Goldman Sachs, for $135,000; in February, he spoke at J. P. Morgan, for $67,500; in April, he spoke at Lehman Brothers, for $67,500; and in May, he spoke at Siguler Guff, a New York–based hedge fund, for $67,500.
So he should make at least that at the hedge fund conference, plus get a free trip to Bermuda.
And remember Summers was paid $5.2 million in 2008 working just one day a week at the huge quant fund DE Shaw. He could end up landing another gig like that.
Oh and about his resigning because of sentiment he’s too close to Wall Street – it can’t be totally true, because Obama is seriously considering replacing him with Roger Altman, who’s big in Private Equity.