Larry Summers: CEOs who stay on Trump councils are on the wrong side of history

Larry Summers Interview Pic

Summers, a former Clinton Treasury secretary and ex-Obama economic aide, says he's surprised no officials of Trump's administration have resigned.

Any CEO who stays on any of the White House business advisory councils will face backlash because they'll be on the wrong side of history, Larry Summers told CNBC on Wednesday.

In a commentary on Tuesday , Summers said all CEOs should quit Trump's advisory councils.

The former Clinton Treasury secretary and ex-Obama economic aide also said on " Squawk on the Street " he's surprised no officials of Trump's administration have resigned.

"I have been disappointed that there have been no resignations on principle by the political appointees of this administration," Summers said.

"There's a tradition in America of people of principle when they are sufficiently offended and disagree with their president on matters fundamental resign," he said.