Ex-Obama budget director Orszag joins Citi (quelle suprise!)

[tishaLA]

Former Obama administration budget director Peter Orszag is joining Citigroup's global banking division, the bank said Thursday.

Orszag will hold the title of vice chairman, and has been tapped to serve in the bank's Senior Strategic Advisory Group, which includes some of Citi's (C, Fortune 500) most senior bankers. <...>

"Peter brings a tremendous amount of knowledge as well as key private sector and government experience to Global Banking," John Havens, CEO of Citi's Institutional Clients Group said in a statement. "His expertise in economic policy will complement our Investment Banking franchise around the world."

Earlier this week, the Treasury Department announced it was unloading the remaining Citi shares it received as part of a massive bailout package the government provided during the darkest days of late 2008 and early 2009. http://money.cnn.com/2010/12/09/news/companies/citi_orszag/index.htm">CNN Money

[Enrique]

1. isn't there some kind of "Revolving Door Act" or something

where people like Orzag would have to wait a decent interval before cashing in?

[tishaLA]

2. the article says he cannot contact federal officials

he'll have to deploy intermediaries.

[DJ13]

3. he'll have to deploy intermediaries.

Like Carrier Pigeons with ransom notes?

[Swamp Rat]

4. Look for familiar faces at Carlyle Group, for example, to show up by the end of 2012.

A lot of 'folks' will be getting jobs like this late 2012 to 2013.

[LoKnLoD]

5. No wonder

No wonder he was against letting the tax cuts run out for the over $250,000 crowd.

[texastoast]

6. Almost as nice as Phil Gramm joining UBS

To lobby for the deregulation that was a huge factor in our 2008 Bush economic mess.

Oy.

[somone]

7. Of course, this disproves any connection between the White House and Wall Street

[RelativelyJones]

8. The guy was always an asshole.

[xchrom]

9. Recommend