Larry Summers Steps Down Amid Controversy Over Epstein Emails
Larry Summers, the former Treasury Secretary under President Bill Clinton, has announced his resignation from all current positions following the recent release of emails revealing his correspondence with Jeffrey Epstein.
Summers, who served as Treasury Secretary from 1999 to 2001 and subsequently advised President Barack Obama, expressed deep remorse regarding his interactions with Epstein. In a statement acquired by CNBC, he stated, “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 surfaced last week, disclose that Summers sought romantic advice from Epstein and exchanged flirtatious messages over several years. Notably, their correspondence persisted until 2019, long after Epstein pleaded guilty in 2008 to charges related to recruiting a minor for prostitution.
Summers had previously approached Epstein for financial support for a poetry foundation managed by his wife, Harvard professor Elisa New. In light of the recent revelations, the Yale Budget Lab confirmed that Summers would be stepping down from his advisory role there, while the Center for American Progress announced that he would also conclude his grant there immediately.
The controversy has intensified pressure on institutions connected to Summers. Senator Elizabeth Warren publicly urged Harvard and other organizations to sever ties with him.
It’s worth noting that Epstein, a convicted sex offender, took his own life in 2019 while awaiting trial on federal charges of child trafficking.
