One of the leading contenders to be the next chairman of the Federal Reserve, Lawrence Summers, has been a paid consultant to Citigroup and other financial institutions. Opponents of his nomination are sure to seize upon this.
Summers advises or consults for other financial firms such as Nasdaq OMX Group (NDAQ), hedge fund D.E. Shaw, venture-capital firm Andreessen Horowitz and asset-management and advisory firm Alliance Partners. His consulting for Citigroup and Nasdaq hadn't been previously disclosed.