Peter Orszag, Former White House Official, Joins Citigroup – NYTimes.com
December 9, 2010 § Leave a comment
Citigroup has hired President Obama’s first budget director, Peter R. Orszag, as a senior adviser to government officials and private investors.
Mr. Orszag, 41, will hold the title of vice chairman and will be the youngest member of Citi’s Senior Strategic Advisory group, a counsel of Wall Street wise men that its bankers can call on to parachute in with advice on complex deals. He is expected to draw on his experience overseeing the federal budget and deep knowledge of public sector financial issues to help Citi’s clients navigate the turbulent economic environment.
One client he cannot advise, however, is the United States government. Consistent with federal ethics rules, Mr. Orzag is not allowed to have any contact with United States officials.
just a sign of the kind of institutional trouble we are in. big government and big business are natural allies, and form a single system, whose employees are aligned..