Skip to comments.Report: Orszag, Obama’s Ex-Budget Wonk, Chatting with Citi
Posted on 12/01/2010 2:19:45 PM PST by Nachum
The Washington to Wall Street revolving door spins on, Bloomie reports:
Citigroup Inc., recovering from its $45 billion bailout in 2008, is in advanced talks to hire former White House Budget Director Peter Orszag, people with knowledge of the matter said.
Orszag, 41, may take a job in the New York-based firms investment-banking division, the people said, declining to be identified because the discussions are private. An announcement may come as early as today, one of the people said.
Of course, there is a well-trampled trail between the White House and Citigroup, most prominently traveled by Clinton administration Treasury Secretary Robert Rubin, who became a director and senior counselor for Citigroup. He left the bank in January 2009 after being blamed by some for pushing Citigroup to rev up risk-taking as the housing and derivatives bubbles expanded.
(Excerpt) Read more at blogs.wsj.com ...
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only in the short term.... not in the long term.. which is where we all end up....