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Government
Jack Lew Bagged $950,000 Bonus After Citigroup Bailout
2013-01-10
[BREITBART] In the wake of the financial meltdown, President Barack Obama
I mean, I do think at a certain point you've made enough money...
derided Wall Street bonuses as "obscene," calling them examples of "fat cats who are getting awarded for their failure."

But now, Mr. Obama has announced that he will nominate as his next Treasury secretary Jack Lew, a man who in 2009 bagged a $950,000 bonus after his bank, Citigroup
...contributed $736,771 to the 2008 Obama campaign...
, received billions in a taxpayer-funded bailout.

Mr. Lew is the former chief operating officer of Citigroup's Alternative Investments unit--a group that bet billions against homeowners paying their mortgages.

As the Huffington Post reported in 2010, during Mr. Lew's Office of Management and Budget (OMB) director confirmation, "neither the Senate's Budget Committee nor its Homeland Security and Governmental Affairs Committee bothered to ask a single question about Lew's tenure at Citigroup, transcripts of the proceedings show."
Posted by:Fred

#7  Probably doesn't account for stock options or other perks.
Posted by: Pappy   2013-01-10 21:58  

#6  And no, I was not being sarcastic.
Posted by: Glenmore   2013-01-10 16:50  

#5  That's a mighty pitiful little bonus for a guy in that kind of position on Wall Street. He must have screwed up badly.
Posted by: Glenmore   2013-01-10 16:49  

#4   In the wake of the financial meltdown, President Barack Obama
("I mean, I do think at a certain point you've made enough money"...)
derided Wall Street bonuses as "obscene," calling them examples of "fat cats who are getting awarded for their failure."

That is, of course, unless the bonus recipients kicked back a fair amount to Obama's re-election campaign. Then they go from being fat cats to candidates for cabinet level positions in the administration.
Posted by: Ebbang Uluque6305   2013-01-10 16:44  

#3  From tipper's article:

Obama has shown a penchant for making bold Cabinet choices in areas he is personally comfortable with or has a passion for — such as foreign policy — while taking the line of least interference on the financial sector and delegating most decisions to Geithner... More tellingly, Obama, by all evidence, is not unhappy with the financial status quo. The president clearly has other issues he wants to spend his political capital on: a deficit-reduction deal, gun control, immigration reform. And Obama seems fairly satisfied with what Geithner has wrought... [Jeff Connaughton, who as a senior Senate staffer fought for financial reform] calls Obama’s view “financially illiterate,” and he’s right.
Posted by: Pappy   2013-01-10 16:20  

#2  Is Jack Lew A Friend to Wall Street?
Posted by: tipper   2013-01-10 14:25  

#1   "neither the Senate's Budget Committee nor its Homeland Security and Governmental Affairs Committee bothered to ask a single question about Lew's tenure at Citigroup, transcripts of the proceedings show."

Question only arise from the Senate when billons and trillions are discussed. And then, only polite questions.
Posted by: Besoeker   2013-01-10 05:07  

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