Larry Summers Steps Down Amid Controversy Over Epstein Emails
Larry Summers, the former Treasury Secretary under President Bill Clinton, has resigned from all his current positions after emails surfaced showing he had been in contact with Jeffrey Epstein.
Summers served as Treasury Secretary from 1999 to 2001 and later advised President Barack Obama. In a statement obtained by CNBC, he said: “I am deeply ashamed of my actions and acknowledge the pain I have caused. I take full responsibility for my erroneous decision to continue my communication with Epstein.”
The emails, which came to light last week, show that Summers sought romantic advice from Epstein and exchanged flirtatious messages with him over several years. The correspondence continued until 2019 — more than a decade after Epstein pleaded guilty in 2008 to charges related to recruiting a minor for prostitution.
Summers had also approached Epstein for financial support for a poetry foundation run by his wife, Harvard professor Elisa New. Following the revelations, the Yale Budget Lab confirmed he would be leaving his advisory role there, and the Center for American Progress announced he would be ending his grant there immediately.
The fallout has put pressure on other institutions with ties to Summers. Senator Elizabeth Warren publicly called on Harvard and other organizations to cut their connections with him.
Epstein, a convicted sex offender, died by suicide in 2019 while awaiting trial on federal charges of child trafficking.
