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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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  •  Right. So it means... what, precisely? (5+ / 0-)
    Recommended by:
    splashoil, duufus, kurt, ChemBob, ichibon

    In Sen. Hatch's reading of the clause, there would be an exception for the bonus payment...

    ...‘as a result of [Lew]'s acceptance of a full time high level position with the United States Government or a regulatory body.’
    ...in other words, in a position to exert favorable regulatory pressure in the service of his erstwhile employers on Wall Street.

    Do you have an alternate explanation here? We'd love to hear it.

    Are they just crazy for government oversight over at Citigroup?

    I mean, it wasn't like they have ever engaged in quid pro quo in the past or anything.

    Certainly not in 1999, when Robert Rubin joined Citigroup right after stepping down from the Treasury job, where he had just finished securing the dismantling of the Glass-Steagall provisions that would have prevented the Citigroup merger from taking place.

    Perish the thought!

    No, I'm sure Citigroup has no vested interests here whatsoever.

    Nothing requires a greater effort of thought than arguments to justify the rule of non-thought. -- Milan Kundera

    by Dale on Sat Feb 16, 2013 at 05:06:41 PM PST

    [ Parent ]

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