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View Diary: Citigroup gave Lew $940K ONLY if he got a high-level government position (313 comments)

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  •  They probably expect him to be a tough regulator (25+ / 0-)

    My guess is that they are giving him almost a million dollar bonus upon his "acceptance of a full time high level position with the United States Government or a regulatory body" because they expect him to be a tough regulator who does what's in the best interests of the people of the United States.

    The banks probably recognize that they are out of control predators that are a threat to the economic well-being of the rest of us as well as to themselves. By encouraging Jack Lew to take an important position on the inside they probably hope that he will use that power to curb their abuses and excesses, which they cannot do themselves.


    •  Public agencies were originally established to (2+ / 0-)
      Recommended by:
      marina, ichibon

      assist the entities they supervise. "To regulate" means to make regular -- i.e. prevent random occurrences nd minimize risk.
      Given the reality that American enterprise has always received protection and privileged treatment, ever since "explorers" landed with charters in their hands and relied on military back-up when the natives threatened, there is good reason to be "concerned" about regulations. The people's expectation that regulators are intent on serving the public interest is not well-founded.
      As a point of reference, consider the long-term effects of environmental regulation and the legacy of the EPA issuing permits to pollute. It was not a happenstance that Richard Nixon set up the EPA. Whom we should blame for indutrial enterprise getting to use mother nature as its toilet, just as if it were a bear in the woods, I do not know. However, the failure to differentiate corporate bodies from natural persons has been disasterous. Never mind that nature is not equipped to deal with man-made toxins, nor is the atmosphere able to deal with the wholesale transfer of carbon from the eath's crust into the gaseous ether we need to breathe.

      We organize governments to deliver services and prevent abuse.

      by hannah on Sat Feb 16, 2013 at 03:06:49 PM PST

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    •  Pretzel logic. nt (0+ / 0-)

      "I was a big supporter of waterboarding" - Dick Cheney 2/14/10

      by Bob Love on Sat Feb 16, 2013 at 03:25:32 PM PST

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      •  snark logic (2+ / 0-)
        Recommended by:
        eXtina, AoT

        I think it what it is.

        Hay hombres que luchan un dia, y son buenos Hay otros que luchan un año, y son mejores Hay quienes luchan muchos años, y son muy buenos. Pero hay los que luchan toda la vida. Esos son los imprescendibles.

        by Mindful Nature on Sat Feb 16, 2013 at 04:43:02 PM PST

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