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Ezra Klein comments on the recent disclosures of Larry Summers’ Croesus-like wealth, garnered in the years before he went to work for the White House:

We now know that in 2008, Summers received more than $5 million from the hedge fund D.E Shaw and more than $2.7 million in speaking fees from other Wall Street firms — including $135,000 for a single appearance before Goldman Sachs. These are sums that would make Tom Daschle positively blush, and they likely would have posed a serious threat had Summers been named Secretary of the Treasury.

Really?  Robert Rubin ran Goldman Sachs.  Paul O’Neill was CEO of Alcoa.  John Snow was CEO and chairman of CSX.  Henry Paulson was another Goldman CEO.

Every one of these gentlemen make Larry Summers look like a pauper.  So why would petty cash levels of consulting and speaking fees have caused him any headaches?  I thought his problem wasn’t money, but his deeply held belief that girls can’t do long division and we should ship all our toxic waste to Chad.  In the face of that, who cares about a lousy few million bucks?

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

payment methods

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