James Fallows, in The Atlantic:
… Peter Orszag, until recently the director of the Office of Management and Budget under Barack Obama, [will] join Citibank in a senior position. Exactly how much it will pay is not clear, but informed guesses are several million dollars per year. Citibank, of course, was one of the institutions most notably dependent on federal help to survive in these past two years.
… The idea that someone would help plan, advocate, and carry out an economic policy that played such a crucial role in the survival of a financial institution — and then, less than two years after his Administration took office, would take a job that (a) exemplifies the growing disparities the Administration says it’s trying to correct and (b) unavoidably will call on knowledge and contacts Orszag developed while in recent public service — this says something bad about what is taken for granted in American public life…
This blog focuses on growing university disparities – executive compensation, athletics funding – but it’s good to keep in mind the larger picture of a nation bankrupting itself through cynicism and greed.
December 13th, 2010 at 3:44PM
“bankrupting itself through cynicism and greed”
yes,justified cynicism, big time disillusionment
when i first started looking seriously at the bad press of my alma mater(which was suppressed and buried/hidden a lot of the times) i started to feel less and less proud of my degree and my association with the institution- I told friends that I was feeling like I was becoming jaded – which was one of my great fears- now I am not so afraid of it-each day comes new proof that it is warranted.
i call this the “age of jade” as in jaded.
December 13th, 2010 at 3:47PM
or, The Jaded Age– hmm, has that been used before?
December 13th, 2010 at 3:55PM
(sorry for multiple postings)
also recall his new wife is the former Jr Money Honey assistant to Sr Money Honey at CNBC
now she is on ABC
some of their CNBC anchors have been seen on holiday in China (no, not the Maria-Citibank trip – a different one) with the head of Bear Stearns before during and after its demise
December 14th, 2010 at 8:21AM
I hear that Tim “The Tax Cheat” Geithner has a slightly used copy of Turbotax that Orszag might want to purchase.