This article is really low quality. I happen to think financial deregulation was a bad idea, but Larry Summers's role in it is hardly a secret. He was very vocal about his positions. This isn't world shattering news at all. And that he and Geithner are close with Wall Street isn't surprising to anyone who reads the news. Twenty points to whomever can name Geithner's former employer without googling it. Also it's idiotic to say JP Morgan held $88 trillion in derivatives as assets. They didn't. That's the notional value, which is completely different from the asset's worth. Shoddy, ill-informed, hyperbolic writing. Though I do have to say that anyone who supports Summers for the Fed does not remember the 90s at all. He was the deregulation cheerleader, second only to Greenspan and Rubin.