Look who's been consulting for Citigroup

Citi Building Sign

Who'd have thought ?

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

Bloomberg News reports that Summers, 58, has worked for Citigroup since at least 2012, according to Danielle Romero-Apsilos, a spokeswoman for firm. She declined to say how much compensation he receives from the bank. The Fed is one of the primary regulators of the nation’s lenders.

'In addition to speaking at internal meetings, we engage Mr. Summers for small private-bank client and institutional client meetings', Romero-Apsilos said in an e-mailed statement. 'He provides insight on a broad range of topics including the global and domestic economy'.

The Citigroup tie could fuel opposition to Summers, who was an advocate for financial deregulation before the banking system almost collapsed in 2008.

Hit the link below to access the complete Bloomberg article:

Citigroup Says Summers Working as Consultant Since at Least 2012

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