April 3 (Bloomberg) -- Lawrence Summers, director of President Barack Obama’s National Economic Council, earned more than $2.7 million in speaking fees from companies such as Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc. that later received taxpayer funds in the economic bailout.

The hedge fund D.E. Shaw & Co. also paid Summers more than $5 million in salary and other compensation in the past 16 months, according to a financial disclosure form released by the White House today. Summers served as a managing director at the New York-based firm until December, according to the report.

Summers, a Treasury secretary under former President Bill Clinton, spoke to Citigroup, Goldman and Lehman Brothers Holdings Inc. audiences twice last year. Lehman, which went bankrupt in September, paid Summers $67,500 for an engagement on July 30, the filing showed.

“There was considerable interest in hearing his economic insights from companies across various industries” said Ben LaBolt, a White House spokesman. Since coming to the White House when Obama tool office in January, Summers “has been at the forefront of this administration’s work to shore up our nation’s financial system and to put in place a regulatory framework that will strengthen the financial system,” LaBolt said.

Merrill Lynch & Co. paid Summers $45,000 on Nov. 12 for a speech. Summers contributed that fee to charity, according to his form. When the economist learned that Merrill would be accepting taxpayer funds because of its merger with Bank of America, he tried unsuccessfully to cancel the appearance and then decided to donate the money, a White House official said.

Top Officials

The White House also released the personal financial disclosure forms of other top White House officials today.

White House Chief of Staff Rahm Emanuel’s form listed a holding of less than $1,000 in shares of American International Group Inc., the insurer that has taken $182.5 billion in taxpayer funds to avoid financial collapse. The White House said Emanuel doesn’t currently own shares in the company, which sparked a public furor by paying $165 million in bonuses to its employees as it was taking the taxpayer money.

Emanuel’s congressional disclosure form that covered 2007 said his wife bought between $1,000 and $15,000 worth of AIG stock in August that year.

He also reported holdings of between $1,000 and $15,000 in Limited Brands Inc., and less than $1,000 in Wal-Mart Stores Inc. Those are small holdings “that do not present a conflict of interest under ethics rules,” said Sarah Feinberg, a White House spokeswoman.

Jarrett Holdings

Valerie Jarrett, a senior adviser to Obama and a close friend from Chicago, sold shares she owned in CME Group Inc., Caterpillar Inc., Hewlett Packard Co., Intel Corp., Sony Corp., General Mills Inc., General Dynamics Corp., Costco Wholesale Corp. and Nike Inc. The income from those sales and dividend payments ranged from as little as $200 to as much as $100,000 each, according to the filing, which only lists ranges.

Jarrett also reported at one time owning between $15,000 and $50,000 worth of Apple Inc. shares and between $1,000 and $15,000 in stock of Best Buy Co., Brinker International Inc., Staples Inc. and Starbucks Corp. The White House said she no longer owns any shares.

Jarrett also sold restricted stock options in Navigant Consulting Inc. for $393,286, according to her disclosure. She served as a board member for the Chicago-based consulting firm.

In the last 15 months, she also earned a salary of $302,000 from Habitat Executive Services Inc. in Chicago and directors’ fees of more than $346,000 from groups ranging from Navigant to USG Corp., a manufacturer of building materials.

Axelrod Income

David Axelrod, the chief strategist of Obama’s presidential campaign who is now a senior adviser to the president, received $1.55 million in salary and partnership income from public affairs firms. He agreed to buyouts that will pay him $3 million over five years, his disclosure form shows.

Axelrod’s clients included the AFL-CIO, a federation of labor unions; the American Association for Justice, formerly known as the Association of Trial Lawyers of America; AT&T Inc.; and Bally Total Fitness Corp.

Carol Browner, the White House energy policy coordinator, was paid $450,000 for her work last year with Albright Group LLC, a consulting firm founded by former Secretary of State Madeleine Albright. Browner is still owed between $350,000 and $750,000 in Albright Group member distributions and has agreed to sell her ownership interest for about $370,000, to be paid over three years.

Browner Assets

Browner also is selling her interest in Albright Capital Management LLC, a related investment advisory firm. Browner didn’t disclose the amount she will receive. She listed among her assets Albright Capital Management holdings worth between $450,000 and $1 million.

Browner also listed a stake in Downey McGrath Group Inc., a lobbying firm headed by her husband, Thomas Downey, a former Democratic congressman from New York. The stake, owned by her husband, was valued at between $1 million and $5 million.

White House Press Secretary Robert Gibbs earned $156,188 last year as Obama’s campaign press secretary. He and his wife own shares in four residential buildings in Alexandria, Virginia, which they rent out. He valued his ownership in the buildings at between $700,000 and $1.5 million.

Craig, Rogers

White House Counsel Gregory Craig was paid $1.7 million by the law firm Williams & Connolly LLP, where he was a partner. His clients included companies such as Abbott Laboratories and Digital Fusion Inc. and former UN secretary general Kofi Annan.

Desiree Rogers, the White House social secretary, was paid $1.8 million for less than seven months’ work as president of Peoples Gas and North Shore Gas. In July, she left the utility company to work for Allstate as president of social networking, and was paid $350,000 through the end of the year.

She also was paid $150,000 for serving on the board of Equity Residential, a real estate firm and $20,000 for serving on the board of Blue Cross Blue Shield in Chicago. She owns between $250,000 and $500,000 worth of stock in Equity Residential.

Thomas Donilon, deputy White House national security adviser, was paid $3.9 million by O’Melveny & Myers LLP, his former law firm. Donilon represented such clients as Penny Pritzker, Obama’s campaign finance director; Verizon Communications Inc.; UnitedHealth Group; Citigroup; Goldman; and Apollo Management LLP. He will receive a pension from Fannie Mae, where he worked from 1999 to 2005.

For Related News and Information: Top Stories: TOP<GO> Link to Citigroup news: C US <Equity> CN <GO> Link to Goldman Sachs earnings: GS US <Equity> CH2 <GO> Link to Bank of America stock graph: BAC US <Equity> GP <GO> For more on the TARP program: TARP <GO>

Last Updated: April 3, 2009 22:09 EDT