Citigroup Says Summers Working as Consultant Since at Least 2012

[bemildred]

Larry Summers, the former Treasury secretary in the running to replace Ben S. Bernanke as Federal Reserve chairman, is a paid consultant for Citigroup Inc. (C)

Summers, 58, has worked for Citigroup since at least 2012, according to Danielle Romero-Apsilos, a spokeswoman for the New York-based lender. She declined to say how much compensation he receives from the bank, the third-biggest in the U.S. The Fed is one of the primary regulators of the nation’s lenders.

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Obama hasn’t named a potential successor to Bernanke, whose tenure expires at the end of January. Summers and Fed Vice Chairman Janet Yellen are the leading candidates to replace Bernanke, according to a former top government official in contact with the White House.

Summers served as Treasury secretary under President Bill Clinton.

http://www.bloomberg.com/news/2013-07-26/citigroup-says-summers-working-as-consultant-since-at-least-2012.html

[MannyGoldstein]

1. .

[DJ13]

2. Citigroup Says Summers Working as Consultant

So he's instantly the favored candidate.

[madinmaryland]

3. Why isn't Paul Krugman being considered??

[DrToast]

5. I'd prefer Yellen over Krugman

Monetary policy isn't Krugman's specialty, which is why Summers shouldn't be the pick, too.

[Fire Walk With Me]

6. Everyone needs to read the leaked Citigroup Plutonomy memos!

FIRST REPORT: “Plutonomy: Buying Luxury, Explaining Global Imbalances”
SECOND REPORT: “Revisiting Plutonomy: The Rich Getting Richer”
THIRD REPORT: "The Plutonomy Symposium: Rising Tides Lifting Yachts"

http://our99angrypercent.wordpress.com/2011/11/27/download-citigroup-plutonomy-memos/