Thursday, December 2, 2010

Revolving doors

Peter Orszag is headed to Citi.

Rumors swirled that the former White House budget director will join the worldwide bank Citigroup.

Bloomberg first reported Mr. Orszag is close to taking an investment banking job at Citigroup, where his former mentor Bob Rubin served as an executive and board member.

Citi declined to comment on the rumors.

The move is the latest for Mr. Orszag who left the White House earlier this year. The Financial Times reported that Mr. Orszag will was likely to be offered a position dealing with clients and top government officials rather than running a business.

(italics, ours)

Yeah, no kidding - would you let this guy anywhere near a business enterprise?

Considering the revolving door between Wall St. and the levers of power in D.C., we suppose we wouldn't be so opposed to crony capitalism and this American economic fascism, if the people involved weren't so god-awful at what they do.