Citigroup Reportedly In Talks To Hire Peter Orszag

BusinessWeek:

Dec. 1 (Bloomberg) -- 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.

Read the whole story: BusinessWeek

Comments

[rotorhead1871]

10:03 PM on 12/01/2010

OF COURSE......what would you expect........???

[Christopher Hull]

04:03 PM on 12/01/2010

Please let the pitchfork and torches moment come soon. It is getting tragically sad.

[Stewpendous]

03:43 PM on 12/01/2010

Surprised????

He worked for the banks while in office, seems logical that he continue with the trend when out.

[hifiguy]

02:20 PM on 12/01/2010

The revolving door spins yet again.

"Is it any wonder you've got no power
When you pay a thief to keep if for you.
Is it any wonder your wine is sour
When you let a liar choose the brew he pours you"

-Ian MacCormick, "Listen Now" 1977

[verycold]

11:56 AM on 12/01/2010

He is following Rubin.  You remember Rubin?  A Clinton retread.  The guy that successfully help guide Citi where it is today.  As far as Peter, all of those that worked on the economic team were all on the wrong path.  First none of those smartypants ever saw the meltdown coming, and when it did they way underestimated it.  So of course hire another guy that is well connected that did a poor job.

[clearwaterclearmind]

11:50 AM on 12/01/2010

just another of obama's "savvy" businessman friends.

we really shouldn't hold the fact that he's smart enough to use his government office to make things sweet for his after office career against him.

[inmyhumbleopinion]

11:28 AM on 12/01/2010

Gee, what a surprise! To think that Administration alumni from the Treasury, the CBO, and the Fed would eschew a government position for a Wall Street job with the guarantee of making millions.

Here's an idea: make everyone connected to our government's finances sign the equivalent of a non-compete/conflict of interest waiver that prohibits them from being hired by lobbies and Wall Street for at least five years. I can dream, can't I?

[flashblitzen]

11:16 AM on 12/01/2010

Why not hire me? I have a long history of making awful decisions and I'll work harder for slightly less.

[rillem]

10:57 AM on 12/01/2010

Money, Money, Money, Money, Money.....Muh-nay!!!!!

[Deparis]

10:48 AM on 12/01/2010

Well... there you have it folks! I bet you next time we hear about him, he will be nominated for a two-year gig as treasury secretary in a near future administration after this citigroup gig and then back to citigroup or other walled street behemoth where he will be rewarded for nothing other than transferring the working class's tax monies from the treasury coffers to walled street's during his tenure as treasury secretary.

This is how they have been playing the game in Washington generation after generation while they kept us busy on maimed street shouting at each other about what we do in our bedroom, guns, gawd and you know what.

[happypatb]

10:33 AM on 12/01/2010

And Washington's revolving door continues spinning. Obama rails against Wall Street but his administration is chock full of Wall Street alums. The Democrats paint the Republicans as doing Wall Street's bidding but Wall Street donated more to Democrats than Republicans (with Chuck Schumer leading all recipients of Wall Street donations) and "financial reform" was a joke without the Volker rule. Face it, regardless of the party in charge, Wall Street own Washington.

[missygoose]

10:23 AM on 12/01/2010

Hey, congratulations on your new job! When do I get mine? Oh right, never.

Look at the mug on this goofball - you can see the wheels turning, looking for another way to screw Americans out of their hard-earned money.

[larrykat]

09:46 AM on 12/01/2010

Orszag has been on this track since he was born. It is a bit unusual that it took him this long to arrive. As much as I hate the meaning conservatives intend when they use the phrase "limousine liberal", this guy fits it perfectly. To me, this is just another brick in the wall being erected between myself and Obama.

[Rich Zubaty the Rude Guy]

09:41 AM on 12/01/2010

How can this be allowed? He spends two years wrecking the economy from within the administration, harping about tax cuts and controlling spending. And now he gets to wreck it from without? Benefiting from tax cuts and controlled spending?

[ScentOpine]

09:37 AM on 12/01/2010

Amazing - how the can we stop these crooks? Citibank execs should be prosecuted for the disaster they perpetrated on the world - a massive transfer of wealth from working class to the ruling elite. They had the combination to the treasury safe, and they took full advantage to engorge themselves.

Obama is completely useless. Just a white flag flapping in the breeze. He is a representative of the ruling elite, corporations. The non-rich just bore him.

And while the non-rich are rendered unconscious by way of flowery rhetoric poisoning, he is handing the rich our cash.

By 2012, Obama's quest for bi-partisan agreement will have succeeded, We will have bi-partisan agreement that Obama must go.