Memo from then-Treasury Secretary provides on aftermath of financial crisis
The history of the 2008 financial crisis will continue to be rewritten as documents and internal memos emerge. The New York Times adds to the discussion of a 54-page memo from incoming National Economic Council and future Treasury Secretary Larry Summers to President-elect Barack Obama. The memo provides insight on the advice Obama received as he prepared to enter office.
The memo was written in December 2008.
Related: Summers, now a professor at Harvard University, has an opinion piece in the Financial Times today on why uncertainty is no excuse for businesses and government to take action to boost the economy.