NBER Cuts Ties with Larry Summers Amid Epstein Fallout

The National Bureau of Economic Research (NBER) has severed its affiliation with former Treasury Secretary Larry Summers due to his ongoing relationship with convicted sex offender Jeffrey Epstein. This decision follows a review of Summers's conduct by an ad hoc committee, which recommended the termination of his appointment as a research associate.

The Hill

Larry Summers, who served as Treasury Secretary under President Bill Clinton and was the president of Harvard University, has faced increasing scrutiny over his ties to Epstein. Documents released by the Department of Justice have revealed extensive correspondence between Summers and Epstein, raising questions about the nature of their relationship. In December 2022, the American Economic Association issued a lifetime ban against Summers, and he stepped back from his teaching responsibilities at Harvard amid an investigation into his conduct.

Harvard CrimsonThe Hill

• Larry Summers: Former Treasury Secretary and Harvard professor, whose ties to Epstein have led to significant professional repercussions.

Harvard Crimson

• James Poterba: President of the NBER, who confirmed the termination of Summers's affiliation.

The Hill

• Jeffrey Epstein: Convicted sex offender whose connections with various prominent figures, including Summers, have come under intense scrutiny.

Harvard Crimson

James Poterba, president of the NBER, confirmed that Summers is no longer affiliated with the organization but declined to elaborate on the decision-making process. In a previous statement, Summers expressed regret over his continued communication with Epstein, acknowledging the pain it caused and taking full responsibility for his actions.

The Hill

The fallout from Summers's association with Epstein has prompted criticism from various quarters, particularly regarding the ethical implications of his past interactions with a convicted sex offender. The ongoing investigations into other Harvard affiliates connected to Epstein have also drawn attention to the broader institutional failures in addressing such relationships.

Harvard Crimson

While the NBER has officially cut ties with Summers, the exact nature and extent of his communications with Epstein remain partially obscured, with ongoing investigations likely to reveal more details. Additionally, the implications of Summers's connections to Epstein continue to evolve as new documents are released.

Harvard Crimson

As investigations into Summers and other Harvard affiliates continue, further repercussions may arise. The scrutiny surrounding these relationships is expected to persist, particularly as more documents related to Epstein's connections with high-profile individuals are made public.

Harvard Crimson

• “I am deeply ashamed of my actions and recognize the pain they have caused. I take full responsibility for my misguided decision to continue communicating with Mr. Epstein,” — Larry Summers, Former Treasury Secretary

The Hill