Ex-Treasury Secretary Will Step Away From Some Commitments After Epstein Emails
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WASHINGTON – APRIL 09: Lawrence Summers, Director of President Barack Obama’s National Economic Council, participates in a question-and-answer session during a luncheon with the Economic Club of Washington at the J.W. Marriott April 9, 2009 in Washington, DC. (Photo by Chip Somodevilla/Getty Images) Getty Images Larry Summers, former U.S. Secretary of the Treasury under President Bill Clinton, will be stepping back from the public eye following the publication of emails he exchanged with convicted sex offender Jeffrey Epstein. The emails revealed a close relationship between the two. Summers, who previously served as the president of Harvard University, sent a statement to The Harvard Crimson, saying, “I am deeply ashamed of my actions and recognize the pain they have caused.” About Larry Summers Summers was born on November 30, 1954, to two economists (he is also the nephew of two Nobel laureates in economics). He received a Bachelor of Science degree from the Massachusetts Institute of Technology in 1975 and a Ph.D. from Harvard in 1982. He later became a professor of economics at Harvard. Summers is perhaps best known for serving as Secretary of the Treasury from 1999 to 2001 under Clinton. Before that, he served as Deputy Secretary of the Treasury under Robert Rubin. Summers famously led the Clinton Administration’s successful opposition to tax cuts proposed by the Republican Congress in 1999, arguing that they would undermine the economy. Instead, Summers stressed debt reduction as the best way to ensure long-term growth. He advocated for targeted, limited tax relief rather than a broad tax rate cut. However, opponents argue that resisting the tax cuts in 1999 strengthened the political case for the far larger 2001 and 2003 Bush tax cuts. During Summers’ time as Secretary, the U.S. federal budget achieved a surplus. According to his biography, Summers is “the…
Filed under: News - @ November 18, 2025 11:24 pm