Caught in Jeffrey Epstein Scandal, Former US Treasury Secretary Larry Summers Resigns from Harvard

Leading economist and former United States Treasury Secretary, Larry Summers, announced his plan to resign from Harvard University on Wednesday local time. This step was taken amid intense scrutiny over his relationship with convicted sex offender, Jeffrey Epstein.

In an official statement, Summers called the retirement a “difficult decision.” However, he said he remains grateful for the experience of teaching at the prestigious university.

“I am grateful to the thousands of students and colleagues I have taught and worked with,” said Summers.

In addition to leaving his professorship, Summers is also relinquishing his role as one of the directors at the Mossavar-Rahmani Center for Business and Government. Harvard spokesperson, Jason Newton, confirmed that the dean of Harvard Kennedy School had accepted his resignation.

This step was taken in connection with the university’s ongoing review of documents related to Jeffrey Epstein that were recently released by the government. According to Newton, Summers will take a leave of absence until the end of the academic year and will not teach or advise new students.

Larry Summers is a central figure in the US economy. He served as Secretary of the Treasury under President Bill Clinton (1999-2001) and Director of the National Economic Council under President Barack Obama. He played a key role in designing stimulus policies during the Global Financial Crisis.

However, his brilliant career is now overshadowed by his association with Epstein. Documents released in recent months show years of personal correspondence between the two, including emails revealing Summers’ sexist comments and his efforts to seek romantic advice from Epstein.

Last November, Summers expressed deep regret over the relationship.

“I am deeply ashamed of my relationship with Epstein. I have temporarily suspended all public activities while working to rebuild trust and repair relationships,” he said at the time.

The scandal has had a domino effect on Summers’ other strategic positions. He has been banned for life from the American Economic Association and has resigned from the boards of directors of OpenAI and the advisory board of the Spanish bank, Santander.

While Harvard declined to comment on the possibility of dismissal or the details of his resignation package, Summers stated his plans to continue contributing to the academic world independently.

“Free from formal responsibilities, as President Emeritus and a retired professor, I look forward to having time to engage in research, analysis, and commentary on various global economic issues,” he concluded. (CNN/Z-2)