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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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  •  Thanks for pointing out where in the hearing (6+ / 0-)

    Hatch makes his statement. You're right. I'll remove my HR.

    •  WATCH THE CSPAN VIDEO in progressivevoice's... (7+ / 0-)

      ...comment above.

      Note that Lew did not dispute Hatch's reading of his contract, and he did not dispute that his near million dollar bonus was contingent upon him going back into a position of influence in the federal government.

      Talk about burying the lead, why did Hatch drop that line of inquiry?

      That clause and that payment should immediately disqualify Lew for any federal position. He should be banned from government.

      •  I completely disagree with your assessment. (0+ / 0-)

        There's no evidence that his bonus is a bribe, and absolutely no evidence that Lew used his influence to help Citigroup avoid regulation.

        You can't conclude that because he was incentivized to enter public service, that he was effectively bribed. There are lots of companies that encourage former employees to enter public service because they're trying to mitigate the attrition of qualified people from public service. Had Lew gone into the Peace Corp, he would have gotten that bonus. As it happened, he went to the State Department and presumably received his bonus. It's hard to see what regulatory influence Lew could have had in a department with absolutely no regulatory oversight over financial institutions such as Citigroup.

        In fact, I'm tempted to HR the diary again for the claim that his bonus is a bribe. It's completely untrue.

        •  This sounds like a patently ridiculous assertion. (4+ / 0-)
          Recommended by:
          emal, Kristina40, TheOrchid, VictorLaszlo
          There are lots of companies that encourage former employees to enter public service because they're trying to mitigate the attrition of qualified people from public service.
          "Encourage"? This guys salary was around 350k, and Citigroup gives him a MILLION DOLLAR BONUS to "encourage" him to "mitigate the attrition of qualified people from public service"???

          Citigroup gives employees A MILLION DOLLARS to go into the Peace Corps?

          Great. Now I have a concussion from banging my head on my desk...

          •  It's not a patently ridiculous assertion. (0+ / 0-)
            Citigroup gives employees A MILLION DOLLARS to go into the Peace Corps?

            Great. Now I have a concussion from banging my head on my desk...

            Citigroup gave Jack Lew a million bucks to go to the State Department. The State Department has absolutely no regulatory oversight over Citigroup, and yet ... they paid him a bonus anyway.

            Also, Citigroup has repaid U.S. taxpayers with interest. Are you suggesting that Citigroup paid a bribe to ensure they fulfill their obligation to repay a loan?

            Honestly, where's the corruption?

            •  Is too. (2+ / 0-)
              Recommended by:
              emal, ichibon
              Is not.
              Is too.
              Is not.
              Is too.
              Is not.
              Is too.

              There. I just saved us from having to type very narrow retorts.

              Are you suggesting that Citigroup paid a bribe to ensure they fulfill their obligation to repay a loan?
              Nope. That would be your straw man, not mine. Feel free to burn your own straw man down in a different thread, where they let you get away with it.
              The State Department has absolutely no regulatory oversight over Citigroup, and yet ... they paid him a bonus anyway.
              At the State department, he was "chief operating officer and was primarily responsible for resource issues".

              Then he became the Director of OMB. Hmm. I see the beginnings of a pattern. Then, he was Obama's Chief of Staff.

              And what job is he up for now? I can't seem to remember...

              Our system of corruption wants short term results, but they nurture long term influence.

              BTW, what did Peter Orszag do when he left OMB? Oh, that's right, he's Vice Chairman of Global Banking at Citigroup.

              The revolving door of corruption. Nevermind, it's just a CT. Nothing to see here, move along.

              Anyone got a straw man they want to burn down?

              •  Huh? (0+ / 0-)
                Nope. That would be your straw man, not mine. Feel free to burn your own straw man down in a different thread, where they let you get away with it.
                This is a fact, not a straw man. Citi did repay the U.S. Government, so again, I ask you, where is the corruption?

                You're alleging that Citi paid Lew a bribe. Where is your proof that that's true?

                You can claim that his bonus is unseemly. But the allegation that it is a bribe requires proof of a quid pro quo that simply doesn't exist.

                •  It's a straw man, because no one but you... (0+ / 0-)

                  ...made the argument. You are putting words in someone's mouth so you can easily dispute them.

                  That's the definition of a straw man.

                  And using a straw man, (or any other slimy tactic), means you're probably wrong and you know it, and you're trying to get away with something.

                  Don't fret though. You're in good company. Tucker Carlson is the King of the Straw Men, so you should feel proud.

            •  You don't think that leverage in the State Dept (3+ / 0-)
              Recommended by:
              3rdOption, raboof, VictorLaszlo

              helps Citigroup?

        •  Naive. -eom- (0+ / 0-)

          The road to Hell is paved with pragmatism.

          by TheOrchid on Sun Feb 17, 2013 at 07:33:07 AM PST

          [ Parent ]

    •  Why not go back to calling the diarist (0+ / 0-)

      anti semitic?  Perhaps next time find out the facts first then HR.

      ~War is Peace~Freedom is Slavery~Ignorance is Strength~ George Orwell "1984"

      by Kristina40 on Sun Feb 17, 2013 at 06:59:43 AM PST

      [ Parent ]

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