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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsObama's new chief of staff got almost a $1 million bonus AFTER the taxpayers bailed out Citigroup
Not a joke:
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.
lamp_shade
(14,796 posts)joeybee12
(56,177 posts)to get 7 this week.
PA Democrat
(13,225 posts)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)Hahaha... Of course, they are. So why are we?
And what about Reverend Wright! And Bill Ayers! An the Black Pather Party...?!
DisgustipatedinCA
(12,530 posts)PA Democrat
(13,225 posts)The story is already being picked up by other news outlets.
http://www.cbsnews.com/8301-505123_162-57355832/citigroup-stint-shadows-obamas-new-staff-chief/
http://www.huffingtonpost.com/2010/07/29/jacob-lew-omb-nominee-got_n_663828.html
http://articles.businessinsider.com/2012-01-10/wall_street/30610826_1_financial-crisis-deregulation-jack-lew
jefferson_dem
(32,683 posts)Good grief...
PA Democrat
(13,225 posts)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)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)don't you think?
Bankster fails upward into taxpayer-funded riches and a top political appointment.
SSDD.
jefferson_dem
(32,683 posts)The OP is just a tad late to the hater party...
sabrina 1
(62,325 posts)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)Following in his footsteps will be Jack Lew, a proven leader with extensive House experience, an expert on our nations toughest economic challenges, a strong voice in addressing our nations 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)C'mon. You're embarassing yourself. Really.
Bake
jefferson_dem
(32,683 posts)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)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
Occulus
(20,599 posts)SidDithers
(44,228 posts)Sid
sarcasmo
(23,968 posts)rinse and repeat.
Uncle Joe
(58,107 posts)Thanks for the thread, Cali_Democrat.
AnotherMcIntosh
(11,064 posts)Surely neither Lew nor they would have done that.
Angry Dragon
(36,693 posts)"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)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)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)This is emblematic of why people are so enraged. There is no excuse for this. None.
woo me with science
(32,139 posts)There is no excuse for this. K&R
neverforget
(9,433 posts)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......
slipslidingaway
(21,210 posts)woo me with science
(32,139 posts)Every damned day.
Starry Messenger
(32,342 posts)dameocrat67
(475 posts)n/t
bvar22
(39,909 posts)Pffffffttt.
You will know them by their WORKS,
not by their excuses.
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