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Public Financial Disclosure Report For Lawrence Summers Income For 2008
Lawrence Summers is director of the White House National Economic Council and was formerly president of Harvard University and Treasury Secretary under President Bill Clinton. Summers submitted his Public Financial Disclosure Report on January 20, 2009, and it was approved by the Office of Government Ethics on March 23.
Summers lists the following assets valued at between $5,000,001 and $25,000,000:
- Bank of America - Columbia Municipal Res. Daily, which provided him with income of between $50,001 and $100,000 in 2008;
Summers lists the following assets valued at between $500,001 and $1,000,000:
- Northwestern Mutual Term Life Insurance Policy.
Summers lists the following assets valued at between $250,001 and $500,000:
- Bank of America - I-Shares TR MSCI EAFE Index which provided him with between $50,001 and $100,000 in income in 2008;
- Bank of America - I-Shares TR Russell 2000 Index, which provided him with between $15,001 and $50,000 in income; and
- Bank of America - S&P 500 Depository Receipts, which provided him with between $5,001 and $15,000 last year in income.
Summers lists the following assets valued at between $100,001 and $250,000:
- Equity Resource Mercury Fund, which he describes as being a “privately held limited partnership investment in real estate assets located in Asia”;
- Revolution Money Inc. Payment Processing System, Tampa, Fla., (Series A-3 Units);
- Harvard 403(b) Vanguard 500 Index Fund, which provided him with between $5,001 and $15,000 in income;
- Vanguard National Bureau of Economic Research - 401(a) Plan Vanguard 500 Index Fund, which provided him with between $5,001, and $15,000 in income;
- Sterling Trust Defined Benefit Plan (Keogh Plan), which provided him with between $5,001, and $15,000 in income;
- TIAA-CREF Harvard 403(b) CREF Global Equities, which provided him with between $5,001, and $15,000 in income;
- TIAA-CREF Harvard RIP CREF Stock, which provided him with between $15,001, and $50,000 in income; and
- TIAA-CREF Harvard RIP CREF Global Equities, which provided him with between $15,001, and $50,000 in income.
Summers lists the following assets valued at between $50,001 and $100,000:
- Revolution Money Inc., Payment Processing System, Tampa, Fla. (Series B-2 Pref. Units);
- Univ. of Pennsylvania TIAA-CREF - CREF Stock, which provided him with between $5,001, and $15,000 in income;
- TIAA-CREF Harvard University Deferred Compensation Plan CREF Stock, which provided him with between $5,001 and $15,000 last year in income;
- TIAA-CREF Harvard University 457(b) DCP- CREF Stock, which provided him with between $5,001 and $15,000 in income last year;
- TIAA-CREF Harvard University RIP CREF Bond Market, which provided him with between $5,001 and $15,000 in income last year;
- TIAA-CREF Harvard University 403(b) TIAA Traditional, which provided him with between $5,001 and $15,000 in income last year; and
- Bank of America - DWS Large Cap Value Fund, which provided him with between $2,001 and $5,000 last year.
Summers lists the following assets valued at between $15,001 and $50,000:
- MIT 401(k), which provided him with between $1,001 and $2,500 in income in 2008;
- Harvard 403(b) Vanguard Global Equity Fund, which provided him with between $1,001 and $2,500 in income;
- TIAA-CREF Harvard 457(b) Deferred Compensation Plan - CREF Stock, which provided him with between $1,001 and $2,500 in income;
- TIAA-CREF Harvard University RIP CREF Inflation Linked Bond, which provided him with between $2,001 and $5,000 in income last year;
- Bank of America IRA - I Shares TR MSCI EAFE Index; which provided him with between $2,001 and $5,000 in income;
- Bank of America IRA - I Shares TR Russell 1000 Growth, which provided him with between $201 and $1,000 in income;
- Bank of America IRA - I Shares TR Russell Value Index, which provided him with between $1,001 and $2,500 in income;
- Bank of America - Self Employed Profit Sharing Plan IShares TR MSCI EAFE, which provided him with between $1,001 and $2,500 in income;
- Bank of America Self Employed Profit Sharing Plan - IShares TR Russell 1000 Value, which provided him with between $1,001 and $2,500 last year in income;
- Bank of America Self Employed Profit Sharing Plan - IShares TR Russell 1000 Growth, which provided him with between $201 and $1,000 last year;
- Bank of America - IShares Russell 1000 Growth, which provided him with between $201 and $1,000 last year;
- Bank of America - IShares Russell 1000 Value, which provided him with between $201 and $1,000 last year;
- Bank of America - Columbia Mutual Funds, which provided him with between $5,001 and $15,000 in income.
Summers lists the following assets valued at between $1,001 and $15,000:
- Vanguard National Bureau of Economic Research 403(b)7 plan Vanguard 500 Index Fund;
- TIAA-CREF National Bureau of Economic Research - Tax Deferred Annuity Plan - CREF Stock which provided him with between $1,001 and $2,500 last year in income;
- TIAA-CREF National Bureau of Economic Research - Tax Deferred Annuity Plan - CREF Global EQ, which provided him with between $1,001 and $2,500 last year in income;
- TIAA-CREF National Bureau of Economic Research - Tax Deferred Annuity Plan - CREF TIAA CREF Bond Mkt., which provided him with between $201 and $1,000 last year in income;
- TIAA-CREF National Bureau of Economic Research - Tax Deferred Annuity Plan - CREF Infl. Linked Bd., which provided him with between $201 and $1,000 last year in income;
- DC Brookline Bank Certificate of Deposit;
- Bank of America IRA - Columbia Cash Reserves Daily;
- Bank of America IRA - I Shares TR S&P Midcap 400 Growth;
- Bank of America IRA - I Shares TR S&P Micap 400 Value;
- Bank of America Self Employed Profit Sharing Plan - Columbia Cash Reserves Daily;
- Bank of America Self Employed Profit Sharing Plan - IShares TR MSCI Emerging Markets; which provided him with between $201 and $1,000 last year;
- Bank of America Self Employed Profit Sharing Plan - IShares TR Russell 2000 Index;
- Bank of America Self Employed Profit Sharing Plan - IShares TR S&P Micap 400 Val;
- Bank of America Self Employed Profit Sharing Plan - IShares TR S&P Micap 400 Val;
- Bank of America Self Employed Profit Sharing Plan - IShares TR S&P Micap 400 GR;
- Bank of America Self Employed Profit Sharing Plan - S&P 500 SPY;
- Bank of America - IShares TR Russell 2000 Value;
- Bank of America - IShares IShares TR S&P MiCAP Gr;
- Bank of America - IShares IShares TR S&P MiCAP Val.
Summers lists the following income from assets:
- $5,001 - $15,000, Big Think Inc. (Interest paid on loan); and
- $15,001 - $50,000, Roubini Global Economics (Gain on disposition).
Lawrence Summers’ Public Income Statement For 2008:
- Harvard University, Salary, $586,996
- D.E. Shaw & Co., Salary, $1,248,747
- D.E. Shaw &Co., Salary, $183,750
- D.E. Shaw & Co., Distributive Share of Partnership, $1,159,995
- Equity Resource Fund XXIV, Investment, $68,620
- The Wylie Agency UK, Columnist, $52,807
- Roubini Global Economics, Advisory Board, Compensation, $147,500
- Brookings Institution, Editor, $60,620
- Ewing M. Kauffman Fnd., Permission Fee, $1,000
- The Financial Times, Columnist, $34,000
- BCBS of Mass., Board Comp., $3,000
- Bill & Melinda Gates Fdn., Board Comp., $4,000
- Reliance, Board Comp., $187,500
- Teachers As Scholars, Compensation, $1,320
- Obama-Biden Transition, Salary, $5,611
- Foreign Policy Assn., Speech, $1,000
- Financial Times, Speech, $60,000
- Itinera Institute, Speech, $62,876
- Skagen Funds, Three Speeches, $180,400
- JP Morgan, Speech, $67,500
- Pricewaterhouse Coopers, Speech (Donated to Charity), $25,000
- Tax Council Policy Inst., Two Speeches, $99,000
- CitiGroup, Speech, $45,000
- Pension Real Estate Assn., Speech, $67,500
- Asociacion de Bancos de Mexico, Speech, $90,000
- Goldman Sachs, Speech, $202,500
- Lehman Bros, Two Speeches, $135,000
- State Street Corp., Two Speeches, $170,000
- CEO 100, Speech, $45,000
- Yale University, Speech, $10,000
- Siguler Guff & Co., Speech, $67,500
- American Express, Speech, $67,500
- Centro de Liderazgo y Gestion, Speech, $112,500
- TA Associates, Speech, $67,500
- Hudson Institute, Speech, $10,000
- Investec Bank, Speech, $157,500
- PricewaterhouseCoopers, Speech, $67,500
- Tata Consultancy Services, Speech, $67,500
- Thisday Newspaper Group, Speech $225,000
- American Chamber of Commerce in Argentina, Speech, $135,000
- Universidad Autonomoa del Estado de Baja Calif., Speech, $103,500
- McKinsey and Co., Speech, $135,000
- IESE Business School, Speech, $112,500
- NextBook.org, Speech, $1,000
- Securities Industry & Fin. Markets Association, Speech, $33,500
- Global Insight, Speech, $36,000
- Institutional Limited Partners Association, Speech, $13,500
- Charles River Ventures, Speech, $67,500
- Merrill Lynch, Speech (Donated to Charity), $45,000
- Institute for International Economics Advisory Committee, $25,000
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