Fourth Largest Hedge Fund, Largest Sovereign Fund, Larry Summers......
“Mr. Summers and Shaw executives say his role there was to be a sounding board for Shaw’s traders. But interviews with friends and former colleagues suggest that Mr. Summers’s role at D. E. Shaw was wider and more complex. Mr. Summers, these people say, was a marquee hire, a prized spokesman for Shaw. He routinely made himself available for private consultations with Shaw’s clients, an attractive perk for investing with the firm, as one client put it……”
“The D. E. Shaw group is a global investment and technology development firm with more than 1,600 employees; approximately $29 billion in investment and committed capital as of July 1, 2009…… an international reputation for financial innovation, technological leadership, and an ‘extraordinarily distinguished staff’…….” D E Shaw Website
‘An extraordinarily distinguished staff’: that is about what Merrill Lynch, Lehman Brothers, and others were saying up to a year or so ago. That is what they will be saying again soon, counting on our short memories..……
Cheers and Ramadan Kareem
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