Friday, December 3, 2010

Cutting Out The Middle Man

Not satisfied just writing op-eds in defending millionaire tax cuts, former Obama Administration budget director Peter Orzag is going for the real thing:
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 firm’s 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.

Orszag, an economist trained at Princeton University and the London School of Economics, helped shape U.S. economic stimulus during the financial crisis and overhaul the health- care system. The youngest member of President Barack Obama’s cabinet, he spent 18 months as White House budget director, stepping down in July.

He has since become a distinguished visiting fellow at the Council on Foreign Relations and a contributing columnist for the New York Times, writing about health care, budget policy and Social Security. His successor as budget director, Jacob Lew, worked at Citigroup from 2006 to 2009.
White House to Citigroup, Citigroup to the White House, all with billions of dollars of bailouts exchanging hands in between.

You know how that old saying goes: "If you can't pretend you're trying to beat them while actually carrying their water, join them".

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