On Wednesday’s broadcast of CNN’s “Scenario Room,” Harvard Professor, economist, Director of the Nationwide Financial Council below President Barack Obama, and Treasury Secretary below President Invoice Clinton Larry Summers mentioned that the failure of Silicon Valley Financial institution “was a failure of supervision on the bottom” and it is unnecessary that the financial institution’s CEO, Greg Becker, was allowed to serve on the San Francisco Federal Reserve’s board.
Summers said, “I don’t assume it was…
