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Citigroup & New Treasury Secretary Has Odor About It

Thursday, February 28, 2013 - 8:12 PM
The next Treasury Secretary, Jack Lew, had a contract with Citigroup
calling for Lew to receive an unspecified bonus if he left his job at
the bank for a "high-level position with the US government or regulatory

Lew explained this contract provision by saying that his bonus was
not unique, that he was "compensated in a manner consistent with other

1) Is this kind of contract/bonus really not unique as Lew states?  and
2) Is Why Citigroup pays and what it expects in return an issue here?

Editorial here:
cumuluscumulus363 posts since
Jan 16, 2010
Rep Points: 1,701
1. Thursday, February 28, 2013 - 9:31 PM
My apologies Shorebreak; somehow missed your post yesterday on this matter.
cumuluscumulus363 posts since
Jan 16, 2010
Rep Points: 1,701
2. Friday, March 1, 2013 - 8:43 AM
No problem. The Senate, however, who approved the nomination of Lew, owe the American people an apology for their continuation of the revolving door policy of placing former executives of Wall Street mega-banks into positions of power regarding the financial policies of this country.  Policies which, when acted upon by those in office, further enrich their cronies on Wall Street while devaluing the savings, and misdirecting taxpayer's money, of the people on Main Street. 
ShorebreakShorebreak2,694 posts since
Apr 6, 2010
Rep Points: 14,610