US Treasury should sign off on Fed lending-Summers

WASHINGTON, June 17 (Reuters) - The Federal Reserve should have permission from the U.S. Treasury Department before it extends emergency lending to troubled financial companies, Lawrence Summers, Director of the National Economic Council said on Wednesday.

"That type of lending is ultimately putting taxpayers at risk. There is always some quantum of risk for taxpayers. In a Democratic system like ours, there should be some democratic accountability," Summers said in Bloomberg television.