Summer before senior year - useless internship, will it hurt?

Hi,

So I'm in the summer before my senior year. I've done three internships, one an entry level position at a mutual fund, the second FX S&T (FO/MO hybrid) at a bank, but this third one concerns me. The first one was my first one, so I can't imagine there's any real problem starting low there. The second one was incredible, I got great experience and did a great job, had a ton of real responsibility, can get great recs, etc.

I thought I'd get an internship this time around on my own (ie not through my school). So, like an idiot, I applied online to a bunch of the BBs and some tier 2 banks, and predictably heard nothing back. At the time I was not aware that "apply online" is code for "throw your resume away." I spoke to some people that know this process after, and they confirmed that yeah, unless you're a Harvard 4.0 you've got no shot cold-applying online.

So, I scrambled and took a position for a personal finance company (insurance, investments, estate planning, you get the idea). I'm basically a secretary (talking to clients, setting meetings, preparing files on said clients). I need the money, and the people I work with are all great, so it's a fine job that I'm happy to have gotten.

That being said, I now have my most recent resume item as this job. I've done what I can to minimize it (the S&T job takes up a ton more space than the other two), and I can talk my way into making it sound decent (really improved my communication/phone skills, had to be highly organized, etc), but I fear it will hurt me. I can just see managers thinking "what was the kid doing? Taking his last summer off?"

So that got longer than I thought it would... basically a) how bad will this hurt and b) how can the damage be minimized?

A little background... I've got a 3.8. Go to a pretty good school but not target (the BBs recruit from us for back office and IT positions, not FO or even MO). Have networked my way/am working on networking my way into knowing people at Morgan Stanley, State Street, Barclays, ICAP, and Bank of America. Can maybe get a hold of someone from GS and JPM as well. Ideally I'll be giving resumes to most or all of those places with someone vouching for me (won't be making the cold-online application mistake twice).