Lawrence Summers
Lawrence Summers
Lawrence Henry "Larry" Summersis an American economist who is President Emeritus and Charles W. Eliot University Professor of Harvard University...
NationalityAmerican
ProfessionPolitician
Date of Birth30 November 1954
CountryUnited States of America
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When I first joined the Treasury some years ago, I can assure you we were not thinking about threats to the financial system emanating from viruses, Trojan Horses, logic bombs or malicious code, ... But we are thinking about those things now, and with good reason.
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We discussed developments in our exchange and financial markets, ... In this context, we emphasized our view that exchange rates among major currencies should reflect economic fundamentals. We will continue to monitor developments in exchange markets and cooperate as appropriate.
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Harvard's endowment is critical to the university's academic and financial aid programs and to its capacity for growth, ... the endowment will continue to be overseen and invested with the highest level of professionalism and expertise.
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The one exception was a technical matter relating to financial modernization: but there Alan simply waited until I left and then very quickly resolved the matter with Larry,
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This is about concrete action and what Japan does going forward. That can make a big difference in stimulating the economy, repairing the financial system and encouraging the flow of capital throughout Asia. It will be their steps that will be decisive and not what diplomats agree on here,
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Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.
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Jack Meyer did a great job for Harvard.
driven far national personal rate savings
Our national savings rate is still far too low, driven by a personal savings rate that is not where it should be,
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There are issues of intrinsic aptitude ... I would like nothing better than to be proved wrong.
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We have been pleased with the market response (to the 10-year indexed notes), ... A liquid market has developed.
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Today, the IRS operates in a low-trust, short-tether budgeting environment, ... This makes rational planning for capital projects such as information technology very difficult.
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We believe the global expansion needs to be balanced up, not balanced down, ... An adjustment should take place in our countries through increased public savings. Internationally, there needs to be an adjustment through an increase in exports rather than reduced imports.
formal requests
We are not contemplating formal requests from any other country,
expansion mindful
We are mindful that we must not take our expansion for granted.