Former Treasury Secretary Larry Summers has
withdrawn himself as a candidateto become the next Chairman of the Federal Reserve.
“All those people who didn’t know who Summers was don’t need to bother finding out now,” tweeted the Wall Street Journal’s Katie Martin.
This is unfortunate because Summers’ incredible intelligence was often overshadowed by his reputation for being arrogant and brash.
Many will remember Summers as the Harvard University president who had to deal with the Winklevoss twins during their widely-publicized battle with Facebook founder Mark Zuckerberg. This made for a funny scene in “The Social Network,” aka the Facebook movie.
Summers was asked to address his interactions with the Winklevoss twins during Fortune’s 2011 Brainstorm Tech conference. Here’s an excerpt from the transcript:
MR. ISAACSON: So was that scene in The Social Network true?
DR. SUMMERS: I’ve heard it said that I can be arrogant.
DR. SUMMERS: If that’s true, I surely was on that occasion. One of the things you learn as a college president is that if an undergraduate is wearing a tie and jacket on Thursday afternoon at three o’clock, there are two possibilities. One is that they’re looking for a job and have an interview; the other is that they are an arsehole.
DR. SUMMERS: This was the latter case. Rarely, have I encountered such swagger, and I tried to respond in kind.
Here’s video of the interview: