Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

Cali_Democrat

(30,439 posts)
Wed Jan 11, 2012, 07:06 PM Jan 2012

Obama's new chief of staff got almost a $1 million bonus AFTER the taxpayers bailed out Citigroup

Not a joke:

http://www.examiner.com/independent-in-manchester/new-white-house-chief-received-large-bonus-from-citigroup-2009

The incoming White House Chief of Staff, Jack Lew, received a bonus of almost $950,000 from Citigroup just a few months after the mega-bank received a large taxpayer rescue from the TARP program, according to disclosure forms filed with the federal government.

In essence, the American taxpayer gave Mr. Lew a bonus for his poor performance.


Anyone else sick and tired of these vampire squid banksters? How come they always manage to make their way to the upper echelons of the US government? Then of course legislation passed in Washington DC always manages to favor them.

At the very least, he should give back the money before taking the job as Obama's new Chief of Staff.
34 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Obama's new chief of staff got almost a $1 million bonus AFTER the taxpayers bailed out Citigroup (Original Post) Cali_Democrat Jan 2012 OP
Is this This Week's Outrage? lamp_shade Jan 2012 #1
Today's...this misadministration is enough of a joke joeybee12 Jan 2012 #2
.... bigwillq Jan 2012 #13
Easy to post a flippant reply on DU PA Democrat Jan 2012 #3
"FOX is all over this already..." jefferson_dem Jan 2012 #12
Um....maybe because some of us are possessed of a sense of ethics DisgustipatedinCA Jan 2012 #15
The rest of the country is not laughing at the excesses of Wall Street. PA Democrat Jan 2012 #16
To make your case, you link to a July 2010 hit piece from the Washington Times? jefferson_dem Jan 2012 #19
One of the three links was an old story, the other two are current. PA Democrat Jan 2012 #25
Just throwing more onto the same pile Angry Dragon Jan 2012 #4
It would be nice if we had less material to work with.. girl gone mad Jan 2012 #9
Drudge was pimping this "outrage" yesterday. jefferson_dem Jan 2012 #10
Do you think that the corporate influence of our Government is a good thing? sabrina 1 Jan 2012 #14
I reject your premise. Do you think you know better than Minority Leader Pelosi? jefferson_dem Jan 2012 #17
That's spin and you know it. Can you SERIOUSLY defend Lew with a straight face? Bake Jan 2012 #18
There's nothing to defend. jefferson_dem Jan 2012 #23
He didn't appoint just "anyone." Bake Jan 2012 #26
No, it's this week's complete lack of surprise Occulus Jan 2012 #28
+1...nt SidDithers Jan 2012 #29
1st get a job at Goldman Sachs, 2nd get a government job sarcasmo Jan 2012 #5
Kicked and recommended. Uncle Joe Jan 2012 #6
Maybe this is OK if Lew and other Citibank excutives were not campaign contributors. AnotherMcIntosh Jan 2012 #7
Found this on wiki Angry Dragon Jan 2012 #8
This Lew guy appears to be directly involved gyroscope Jan 2012 #11
We joke about Mitt, but for real, Obama's got a tough fight on his hands. Bake Jan 2012 #20
This is why Americans are in the streets. woo me with science Jan 2012 #21
Here we go again. woo me with science Jan 2012 #22
Gotta love the upward mobility of failure when it's the elite. neverforget Jan 2012 #24
knr nt slipslidingaway Jan 2012 #27
Every day. woo me with science Jan 2012 #30
k&r Starry Messenger Jan 2012 #31
They make their way in the upper echelons of government because obama appoints them n/t dameocrat67 Jan 2012 #32
"CHANGE" ? bvar22 Jan 2012 #33
K&R woo me with science Jan 2012 #34

PA Democrat

(13,225 posts)
3. Easy to post a flippant reply on DU
Wed Jan 11, 2012, 07:11 PM
Jan 2012

but I assure you that the Republican opposition will use this against Obama. I won't post a link but FOX is all over this already.
Edited to add that here is a link to the FOX story.


http://nation.foxnews.com/citi-bank/2012/01/09/new-obama-chief-staff-former-hedge-fund-exec-citi-made-money-mortgage-defaults

jefferson_dem

(32,683 posts)
12. "FOX is all over this already..."
Wed Jan 11, 2012, 09:52 PM
Jan 2012

Hahaha... Of course, they are. So why are we?

And what about Reverend Wright! And Bill Ayers! An the Black Pather Party...?!

PA Democrat

(13,225 posts)
25. One of the three links was an old story, the other two are current.
Wed Jan 11, 2012, 10:35 PM
Jan 2012

Care to comment on those? CBS? Business Insider? Do you really think that hearing this story will not anger an American public already sick of Wall Street? Or is expressing concern over a move that could jeopardize Obama's reelection unacceptable to you?


Here is the updated story on Huffington Post
http://www.huffingtonpost.com/2012/01/10/jack-lew-bank-background_n_1197515.html

Angry Dragon

(36,693 posts)
4. Just throwing more onto the same pile
Wed Jan 11, 2012, 07:12 PM
Jan 2012

how many bankers and wall streeters in the administration??

it is getting old that the people are not being represented

girl gone mad

(20,634 posts)
9. It would be nice if we had less material to work with..
Wed Jan 11, 2012, 09:42 PM
Jan 2012

don't you think?

Bankster fails upward into taxpayer-funded riches and a top political appointment.

SSDD.

sabrina 1

(62,325 posts)
14. Do you think that the corporate influence of our Government is a good thing?
Wed Jan 11, 2012, 10:02 PM
Jan 2012

Not sure since you seem to be saying that we should not be outraged over the continuation of unelected banksters being given positions of powere the electorate would never give them, considering the polls showing how the public in general feels about all of this.

I wonder why out of all the great democrats we have, this President never fails to choose someone who could certainly never be characterized as representative of ordinary people? Can you explain it?

jefferson_dem

(32,683 posts)
17. I reject your premise. Do you think you know better than Minority Leader Pelosi?
Wed Jan 11, 2012, 10:10 PM
Jan 2012

“Following in his footsteps will be Jack Lew, a proven leader with extensive House experience, an expert on our nation’s toughest economic challenges, a strong voice in addressing our nation’s budget deficit, and a dedicated public servant with a long record of achievement inside and outside of government. House Democrats congratulate him on his appointment and look forward to working with him to strengthen our nation and serve the American people."

http://www.democraticleader.gov/news/press?id=2447

Bake

(21,977 posts)
18. That's spin and you know it. Can you SERIOUSLY defend Lew with a straight face?
Wed Jan 11, 2012, 10:14 PM
Jan 2012

C'mon. You're embarassing yourself. Really.

Bake

jefferson_dem

(32,683 posts)
23. There's nothing to defend.
Wed Jan 11, 2012, 10:20 PM
Jan 2012

This is the standard course. Obama nominates someone (anyone) and...let the outrage commence...from Drudge-led RWNJ flunkies to a tiny handful of disgruntled "Democrats.".

Yet public support from the Leader and other prominent Dems who are thrilled that Lew is replacing Daley is "spin"? Please.

Bake

(21,977 posts)
26. He didn't appoint just "anyone."
Wed Jan 11, 2012, 10:35 PM
Jan 2012

He appointed a bankster who got a million dollar bonus with taxpayer money.

And public support from Pelosi et al? I mean, what did you expect?

Daley was bad enough. Lew is even worse. In fact, the only person who might have been a worse appointment would have been Jerry Sandusky.

Bake

 

AnotherMcIntosh

(11,064 posts)
7. Maybe this is OK if Lew and other Citibank excutives were not campaign contributors.
Wed Jan 11, 2012, 08:01 PM
Jan 2012

Surely neither Lew nor they would have done that.

Angry Dragon

(36,693 posts)
8. Found this on wiki
Wed Jan 11, 2012, 09:13 PM
Jan 2012

"In June 2006, Lew was named chief operating officer of Citigroup's Alternative Investments unit, a proprietary trading group. The unit he oversaw invested in a hedge fund "that bet on the housing market to collapse."

 

gyroscope

(1,443 posts)
11. This Lew guy appears to be directly involved
Wed Jan 11, 2012, 09:51 PM
Jan 2012

in perpetrating the mortgage and securities fraud that swindled millions out of their life savings. Lew belongs in prison sharing a cell with Bernie Madoff.

Instead Obama thinks it would be a good idea to make him his chief of staff.

Bake

(21,977 posts)
20. We joke about Mitt, but for real, Obama's got a tough fight on his hands.
Wed Jan 11, 2012, 10:16 PM
Jan 2012

He didn't HAVE to hand the other side ammunition in the form of appointing a bankster like Lew as his COS. This was just plain boneheaded.

Does make one question his judgment sometimes.

Bake

woo me with science

(32,139 posts)
21. This is why Americans are in the streets.
Wed Jan 11, 2012, 10:16 PM
Jan 2012

This is emblematic of why people are so enraged. There is no excuse for this. None.

neverforget

(9,433 posts)
24. Gotta love the upward mobility of failure when it's the elite.
Wed Jan 11, 2012, 10:23 PM
Jan 2012

For the rest of us, we get foreclosures, job losses and hoops thrown in our way to get back on our feet. But the elite take care of each other......

bvar22

(39,909 posts)
33. "CHANGE" ?
Thu Jan 12, 2012, 01:31 PM
Jan 2012

Pffffffttt.



You will know them by their WORKS,
not by their excuses.
[font size=5 color=green][center]Solidarity99![/font][font size=2 color=green]
--------------------------------------------------------------------------------------------------------------------------------[/center]

Latest Discussions»General Discussion»Obama's new chief of staf...