Larry Summers, the erstwhile chief economist at the World Bank and director of the National Economic Council, has once again proven himself to be a pillar of the D.C. Beltway elite who has no qualms about using his influence for personal gain. Following a period of quiet reflection, he has announced plans to re-enter public life, citing a desire to "make a difference" in the world.
However, Summers' track record speaks for itself. A prolific advocate for deregulation and free trade agreements, he played a significant role in exacerbating the 2008 financial crisis by pushing for lax oversight of the financial industry. His tenure as president of Harvard University was marred by controversy, including clashes with faculty members over issues like diversity and inclusivity.
Moreover, Summers has a disturbing history of close relationships with unsavory figures, including Jeffrey Epstein, who was convicted of soliciting prostitution from underage girls. Despite this, Summers continued to maintain a friendship with Epstein until the financier's arrest in 2019.
In recent years, Summers has continued to exploit his influence for personal gain, serving as a columnist at The Washington Post and contributing to Bloomberg as a regular commentator. He has also made millions of dollars working for Wall Street firms like D.E. Shaw.
Despite being publicly chastened by scandal in the past, Summers has consistently demonstrated an ability to bounce back with ease. His return to politics is likely to be met with skepticism from many who are familiar with his checkered past and suspect motivations.
Ultimately, it's not just Summers' policies that are at issue here – it's the attitude of impunity he seems to embody as a representative of the D.C. elite. After years of maintaining close relationships with known sex traffickers and profiting handsomely from his influence, he is still teaching undergraduates at Harvard.
As the journalist Helen Andrews noted, Summers' case represents the failures of "cancel culture" in holding those in power accountable for their actions. The Intercept's own reporting on Summers has highlighted a pattern of behavior that is more egregious than simply "unconventional" or "testing the boundaries."
We need to demand much more from our economists, policymakers, and leaders. Their advice should be informed by a commitment to human well-being rather than the interests of capital holders and corporations. Anything less is simply unacceptable.
However, Summers' track record speaks for itself. A prolific advocate for deregulation and free trade agreements, he played a significant role in exacerbating the 2008 financial crisis by pushing for lax oversight of the financial industry. His tenure as president of Harvard University was marred by controversy, including clashes with faculty members over issues like diversity and inclusivity.
Moreover, Summers has a disturbing history of close relationships with unsavory figures, including Jeffrey Epstein, who was convicted of soliciting prostitution from underage girls. Despite this, Summers continued to maintain a friendship with Epstein until the financier's arrest in 2019.
In recent years, Summers has continued to exploit his influence for personal gain, serving as a columnist at The Washington Post and contributing to Bloomberg as a regular commentator. He has also made millions of dollars working for Wall Street firms like D.E. Shaw.
Despite being publicly chastened by scandal in the past, Summers has consistently demonstrated an ability to bounce back with ease. His return to politics is likely to be met with skepticism from many who are familiar with his checkered past and suspect motivations.
Ultimately, it's not just Summers' policies that are at issue here – it's the attitude of impunity he seems to embody as a representative of the D.C. elite. After years of maintaining close relationships with known sex traffickers and profiting handsomely from his influence, he is still teaching undergraduates at Harvard.
As the journalist Helen Andrews noted, Summers' case represents the failures of "cancel culture" in holding those in power accountable for their actions. The Intercept's own reporting on Summers has highlighted a pattern of behavior that is more egregious than simply "unconventional" or "testing the boundaries."
We need to demand much more from our economists, policymakers, and leaders. Their advice should be informed by a commitment to human well-being rather than the interests of capital holders and corporations. Anything less is simply unacceptable.
like what even is he thinking? all these scandals and controversies and still getting paid 
to do who knows what. it's so frustrating that people like him get to bounce back from their mistakes and still have a platform. doesn't anyone hold them accountable for their actions anymore? 
the fact that he was friends with epstein and didn't care about his victims is just mind-blowing 
we need leaders who put people over profits, you know? 
! I mean, who else could just get away with all this shady stuff and still be like "oh noes, I'm going to make a difference now"? It's not like he's learned anything from his past mistakes or even acknowledged any wrongdoing... just bounces back like it was nothing 
. We need leaders who actually care about the people, not just the profits of Wall Street 
. This is just so frustrating 
. I mean, Larry Summers thinks he can just waltz back into politics after all this? He's got a history of being super close with some shady characters, like Epstein... that guy was a total creep 
. And now he wants to make a difference? Give me a break 
. It sounds like he's just looking for a way to line his pockets some more 
. I mean, he can still teach at Harvard and make millions on Wall Street... it's like they're in cahoots or something 
. We need people who actually care about us, not just their own bank accounts 
he's got this major track record of being super problematic and yet he just bounces back like nothing's wrong 
meanwhile, he's still getting paid to teach at harvard and advise big corporations 
we need to hold them accountable for actually doing what's best for humanity, not just the ones with deep pockets 
And now he's just going to waltz back into politics like nothing happened? It's so frustrating. The fact that Harvard still has him teaching undergrads is just crazy. I mean, can't they see how problematic his presence is? 
We need people in power who are actually looking out for us, not just lining their own pockets. The whole thing feels like a total abuse of privilege and it's just not okay 
.
.
Can we just agree to disagree on this one? 
. Like, what even is "making a difference" when you've made so many people suffer? And yeah, I totally get why people are skeptical about him - his track record is literally riddled with scandals and questionable relationships 
. It's like he thinks he's above the law or something. But honestly, I think we need to be holding our leaders accountable for their actions, not just giving them a free pass when they mess up 
. We deserve better than people who prioritize profits over people