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Tag Archives: Treasury
Financial Windfalls for Wall St. Executives Taking Government Jobs
When Jack Lew left Citi for a “high level government post” he was given a bonus. He was incentivized to find a roll in senior government. This practice is common among the big banks.
Let’s Look a Little More Closely at What Bernanke Told Congress
In Congressional testimony last week, Fed Chairman Ben Bernanke slipped something in that no one much noticed. He said that the Fed might eventually choose to exit from its current monetary expansion binge, not by selling US government securities, but by letting them mature.
Rich Lowery at National Review: Jack Lew not so bad, just good at “getting paid.”
Jack Lew knows how to get people to give him large sums of money. (And power.)
Did Jack Lew’s Contract at Citibank Encourage His Move into Government?
Part of Lew’s contract wouldn’t be paid out if Lew had just quit and went to work somewhere else in the private sector. However, if he found a job in government then he got to keep his pay. If Citibank got a high level government access point, then Lew got to keep his pay.
Government audit criticizes exec pay at GM, Ally, AIG after bailouts
Looks like the “Pay Czar” is being a little loose with the purse strings. The bailouts were so long ago. How can we expect these executives to get by on less than a million dollars a year?
“We will never know the amounts of money involved, but it has to be the biggest financial fraud of all time,”
The LIBOR rigging scandal is very deep, and it affected millions and millions of people. This was not just a few traders getting together and manipulating the second most important interest rate benchmark in the world. It wasn’t even just a few banks. It was pervasive, and it appears even condoned by regulators.
10 Reasons Why Jack Lew Should not be Treasury Secretary
A pretty good list.
That he got an almost million dollar bonus completely paid for with bailout funds in 2009 particularly wrinkles my brow.
Looks Like Geithner Leaked Important Market Moving Information in 2007
Meet the New Treasury Boss, Same as the Old Treasury Boss
Actually to be fair they are different in many ways. Geithner is from Goldman Sachs. Lew is from Citibank.
