Fat cat Jack Lew who Obama will nominated for Treasury Secretary was ‘awarded for failure’ – got $950,000 bonus after 2009 Citigroup bailout
Hey remember in 2010 when Obama complained about Wall Street bonuses being ‘obscene’ and called them examples of ‘fat cats who are getting awarded for their failure?’ Looks like Jack Lew, who Obama is going to nominate for Treasury Secretary to replace tax cheat Tim Geithner is one of those fat cats who was award who got one of those obscene bonuses (from your tax payer dollars bailout) and was awarded for failure. As usual, there isn’t a peep about this from the corrupt state run lapdog media. Jack Lew is also a complete ass like Tim Geithner and was purposely kept out of the fiscal cliff negotiations for fears he would screw it up.
But now, Mr. Obama has announced that he will nominate as his next Treasury secretary Jack Lew, a man who in 2009 bagged a $950,000 bonus after his bank, Citigroup, received billions in a taxpayer-funded bailout.
Mr. Lew is the former chief operating officer of Citigroup’s Alternative Investments unit—a group that bet billions against homeowners paying their mortgages.
As the Huffington Post reported in 2010, during Mr. Lew’s Office of Management and Budget (OMB) director confirmation, “neither the Senate’s Budget Committee nor its Homeland Security and Governmental Affairs Committee bothered to ask a single question about Lew’s tenure at Citigroup, transcripts of the proceedings show.”
In total, Citigroup received $476.2 billion in cash and guarantees.