Citigroup’s Man, Jack Lew, Goes to the Treasury Department

Revolving Door

Citigroup’s Man Goes to the Treasury Department

Jack Lew is the nominee for Treasury secretary whose own bonus as an investment banker was bailed out by the Treasury Department when it rescued Citigroup Inc. (C) in 2008. He owes much to America’s taxpayers. He should also be grateful to Citigroup for agreeing to let him rejoin the government without suffering much for it financially.

An intriguing revelation from Lew’s Senate confirmation hearing last week was that he stood to be paid handsomely by Citigroup if he left the company for a top U.S. government job, under his 2006 employment agreement with the bank. The wording of the pay provisions made it seem, at least to me, as if Citigroup might have agreed to pay Lew some sort of a bounty to seek out, and be appointed to, such a position.

Lew didn’t shed much light on the subject after Senator Orrin Hatch, a Utah Republican, asked him about it at the hearing. “I’m not familiar with records that were kept, so I don’t have access to things that I don’t know about,” Lew said. It wasn’t clear which records (or even which question) Lew was referring to, and Hatch didn’t press the matter.

More here…

Copy of Jack Lew’s Employment Agreement With Citigroup, Excerpts Below…



Jack Lew’s Employment Agreement With Citigroup

5 Responses to “Citigroup’s Man, Jack Lew, Goes to the Treasury Department”
  1. David Charles says:

    Sarah is so right on this,this is exactly the type of s..t that should bring us all to the streets rioting and holding signs that say “Impeach Obama” thats for sure and its what Im sticking with so as far as the revolving door,who freaking give a s..t about revolving doors and why is everyone so flippin diplomatic about getting f…ed by those that have been chosen to make certain choices for the people?

  2. Sarah says:

    Rubinite, total Bankster, thief of the public domain, This is the type of appointment that should bring people into the streets en masse, were it not for the daily narcotic of the MSM.

  3. BOBBI SWANN says:

    No comment other than the picture of the revolving door is oh so perfect!

  4. Robert Wade says:

    What can be the hold on the administration and promises made to get in a position to strangle the very existance out of everyone in America instrumenting such destruction. This just does not add up even when your eyes are closed. Very thick skinned politicians to ignore the very people that have elected them to office for the betterment of the country not once but twice and more than can be counted. I am appalled by their actions across the board. DISGUSTED!!!!! with them all. Effeciency is gone if it ever existed……………………………………..Robert

  5. Sue Em says:

    This is what is wrong with America. It is like criminals operating jails. To even consider a Wall Street rat for the treasury blows my mind!

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