Obama Economic Advisors Linked to Bankers
April 5, 2009
Lawrence Summers, a top economic adviser to President Barack Obama, pulled in more than $2.7 million in speaking fees paid by firms at the heart of the financial crisis, including Citigroup, Goldman Sachs, JPMorgan, Merrill Lynch, Bank of America Corp. and the now-defunct Lehman Brothers.
He pulled in another $5.2 million last year from D.E. Shaw, a hedge fund for which he served as managing director from October 2006 until joining the administration.
Thomas E. Donilon, Obama’s deputy national security adviser, was paid $3.9 million last year by the power law firm O’Melveny & Myers to represent clients, including two firms that received federal bailout funds: Citigroup and Goldman Sachs. He also disclosed that he’s a member of the Trilateral Commission and sits on the steering committee of the supersecret Bilderberg group. Both groups are favorite targets of conspiracy theorists.
And White House Counsel Greg Craig last year earned $1.7 million in private practice representing an exiled Bolivian president, a Panamanian lawmaker wanted by the U.S. government for allegedly murdering a U.S. soldier and a tech billionaire accused of securities fraud and various sensational drug and sex crimes.