It looks like the New York Times is now covering the sweetheart deal he got working for a hedge fund, and we now know that not only was it a part time job that got him paid $5.2 million, but he worked there just 1 day a week!

Truth be told, he may have done more work, as 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.”

What this really means is that in 2008, it was clear that he would be a senior official if either Obama or Clinton became President, and clients were attracted by the potential of that access, and he got special treatment as a result:

When investors rushed en masse to withdraw their money from hedge funds last year, Shaw asserted its right to block redemptions from its fund. An exception was made for Mr. Summers, however, because the White House job he was taking required him to divest.

This is deeply corrupt, if not in law, then in fact.

He didn’t “have” to divest. He could have placed it in a blind trust.