Harvard suckered by big three banks and Obama’s economics adviser Larry Summers

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March 3 (Bloomberg) — Harvard’s interest costs are set to increase as much as $550 million over three decades because the U.S.’s wealthiest and oldest university took advice from Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley.

Earlier, those same Wall Street banks sold Harvard — then led by Lawrence Summers, now an Obama administration adviser — derivatives that soured. Read more at Link

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