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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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  •  The problem is not with Lew's having to be an (11+ / 0-)

    employee to get the bonus -- that is standard -- the problem is with paying Lew in "consideration" for leaving CitiGroup to fill a high level government position, with the clear implication that he is being rewarded for securing a direct opportunity to influence public policy for private benefit. That, is not standard.

    The Class, Terror and Climate Wars are indivisible and the short-term outcome will affect the planet for centuries. -WiA "When you triangulate everything, you can't even roll downhill..." - PhilJD

    by Words In Action on Sat Feb 16, 2013 at 11:16:29 AM PST

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    •  WiA - There are typically a few exceptions (3+ / 0-)
      Recommended by:
      emelyn, Argyrios, Kathy S

      to the must be present rule to receive your bonus. One other common one is if you are activated as part of the ready reserve or the inactive reserve. Without that exception in the agreement someone called to active duty would not be paid. What Citi wanted to do was give Lew the option to take a high level position if he wanted to return to public service. Without this clause Lew would have likely declined the offer to join the Obama administration. Lew isn't rich enough where he could leave nearly $1 million behind to enter government service at an 80-90% decline in his compensation. There is nothing wrong with this provision, it's understandable why Lew would want it and it was generous of Citi to include it.

      "let's talk about that"

      by VClib on Sat Feb 16, 2013 at 02:26:40 PM PST

      [ Parent ]

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