Heh, poor Larry Summers is not doing to bad

[survivor999]

Ex-Harvard chief joins hedge fund company

Summers will remain on faculty

By Marcella Bombardieri, Globe Staff | October 20, 2006

A few months after stepping down as president of Harvard University, Lawrence H. Summers has joined a $25 billion hedge fund management firm, D.E. Shaw & Co., as a part-time managing director.
Summers will remain on the Harvard faculty while he works for D.E. Shaw on strategic initiatives and high-level portfolio management, according to the company.

His ``extraordinary intellect, deep understanding of the financial markets, and wealth of organizational experience will be uniquely valuable resources to the firm," the New York-based company's chairman, David Shaw, said in a statement.

A spokeswoman for D.E. Shaw declined to comment on Summers's role in the company or his pay.

While the move makes some Harvard professors wonder whether Summers might eventually leave the university for the world of finance, friends said that is unlikely.

``He's so devoted to his teaching, I would be very surprised if he did anything more than dabble" in the financial markets, said economics professor Edward Glaeser, who added that Summers spent 15 minutes last week brainstorming with him about an undergraduate's thesis.

http://www.boston.com/news/local/articles/2006/10/20/ex_harvard_chief_joins_hedge_fund_company/