To the Editor: On the Op-Ed Attacking My Character

I was surprised and disappointed that The Crimson chose to publish the op-ed from Jeff M.A. Hauser ’95 last week attacking my integrity without reaching out to me to check facts or context with me.

Had The Crimson contacted me, I would have made three points contradicting Hauser’s arguments.

First, my biography, which is prominently displayed on my personal website (and linked on my Harvard Kennedy School faculty page), references my extensive consulting and board work in the financial and technology sectors and specifically names the most significant of my involvements, including OpenAI.

The biography on my website reads: “He is an advisor to businesses and investors and serves on the board of Doma, OpenAI and SkillSoft Corporation. He also consults with or advises a range of companies in the finance and technology sector, including D. E. Shaw & Co and Citi.”

Second, I had no direct financial interest in Silicon Valley Bank nor in Circle, a large depositor in SVB. Hauser points only to firms with which I had minor advisory relations that themselves had minor positions (on which I did not advise) in Circle. My concern regarding SVB, shared by the vast majority of economists, financial experts and policymakers, was with cascading bank runs leading to economic and financial crisis.

Third, I have frequently urged public policy positions adverse to the economic interests of businesses I advise on a host of issues ranging from full taxation of carried interest, to more stringent banking stress tests, to increased corporate taxation, to stock option accounting, to increased Internal Revenue Service auditing.

I have admired The Crimson for nearly 50 years since coming to Harvard in 1975. I know that especially at this time of crisis at Harvard your student editors can provide the community with more accurate and significant editorial content.

— Lawrence H. Summers, Charles W. Eliot University Professor and former Harvard president

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