Summers on the cliff, last week on Bloomberg. Runs 1 minute.
'Nobody who holds Treasuries should worry about getting paid. The U.S. will meet all its obligations.'
If you remember, both Summers and Geithner guaranteed last year that the U.S. would never be downgraded, and then it happened a few months later, in August of 2011. So Mr. Somnolence is choosing his words quite carefully in this clip.
- Recent rumors say Summers will replace Bernanke in 2014...
- Don't Let Larry Anywhere Near Your Investments...
Larry Summers on the economy, cliff, deficit, spending and taxes.
Here's a bonus:
Larry Summers As Realized In Cinema From The Social Network
Evidently, this meeting with the Winklevoss dipshits was before Larry's afternoon nap. Had Summers invested just $1 million from the Harvard endowment in Zuckerberg's idea for a college-only social network, he would have made at least $1 billion (first investors in Facebook earned more than 1,000 times their investment with the IPO, and Harvard could have been the very first).
How Larry Wrecked Harvard's Endowment:
- Harvard Swaps Are So Toxic Even Summers Won’t Explain - Bloomberg
- Larry Summers loses 1/3 of Harvard's endowment ($1.8 Billion) on derivatives, gets promoted to White House