Wednesday, January 9, 2013

Full Disclosure: Lew Received a Million Dollars in Cash From Citigroup During Bailout

The Washington Times reports:
Jacob J. Lew, President Obama’s presumed choice to lead the Treasury Department, has close ties to Wall Street, receiving more than $900,000 in bonus cash from a division of Citigroup just as the company was getting bailed out by U.S. taxpayers[...]

Formerly chief operating officer at Citi Alternative Investments, a division of Citigroup, Mr. Lew received a bonus of $944,578 in January 2009, a payment that came days before he joined the State Department and later surfaced in a government ethics form.

The bonus came on top of $1.1 million in other Citigroup compensation he reported receiving during 2008 and the first two weeks of 2009.

This is typical revolving door stuff. Go through the revolving door and collect millions.

As I have pointed out earlier, Lew had no financial background that would warrant his being put in the position he found himself at Citigroup.

(ht John Duncan)

No comments:

Post a Comment