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unhappycamper

(60,364 posts)
Sat Feb 16, 2013, 11:10 AM Feb 2013

Senator Orrin Hatch Drops a Bombshell at Jack Lew’s Confirmation Hearing

http://wallstreetonparade.com/2013/02/senator-orrin-hatch-drops-a-bombshell-at-jack-lew%E2%80%99s-confirmation-hearing/

Senator Orrin Hatch Drops a Bombshell at Jack Lew’s Confirmation Hearing
By Pam Martens: February 14, 2013

At last we know how the grease is funneled to that revolving door between Wall Street and Washington. One only gets a $940,000 bonus from Wall Street’s Citigroup if you can land a “full time high level position with the United States Government or a regulatory body.” It can’t be just a part-time job, mind you; and you can’t be rank and file. Citigroup’s dangling carrot will only pay $940,000 if the company can add a “high level” government mover and shaker to their gold-plated Rolodex.

This was the bombshell dropped by Senator Orrin Hatch yesterday in Jack Lew’s confirmation hearing for one of the highest offices in the land – Secretary of the U.S. Treasury who will also head the body that makes critical decisions impacting Citigroup – the Financial Stability Oversight Council. (Lew held an executive position with Citigroup at the time of its collapse.)

~snip~

Public shame has clearly lost its utility as a deterrent to repugnant behavior when it comes to Wall Street. Jack Lew proved the point yesterday. Without offering an apology or the return of the $940,000 bonus paid with taxpayer’s funds, the unflappable Lew calmly and politely answered the questions.

Unfortunately, his answers lacked both substance and credibility. One of Lew’s many jobs at the collapsing division of Citigroup he headed was overseeing the Human Resources Department. But on the topic of his own personal performance assessment, this is what he told the Senate chambers:
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Senator Orrin Hatch Drops a Bombshell at Jack Lew’s Confirmation Hearing (Original Post) unhappycamper Feb 2013 OP
DU Rec. Tuesday Afternoon Feb 2013 #1
The more I read about Jack Lew I come to the conclusion that he does not deserve to be in government Angry Dragon Feb 2013 #2
he also busts unions alp227 Feb 2013 #19
I think the purpose of Democrats and Democratic presidents fasttense Feb 2013 #48
Why not mtasselin Feb 2013 #34
As for his compensation, Lew said: “I do believe it was comparable to compensation for ... Scuba Feb 2013 #3
Thanks for that graphic, Scuba. nt Pat Riot Feb 2013 #4
Jesus God. . .scary, scary stuff appacom Feb 2013 #6
Conspiracy is not the right word. citizen blues Feb 2013 #23
You're right. appacom Feb 2013 #47
Great graphic!!!! nt valerief Feb 2013 #8
Why two CBSs, one separate, one under Viacom? Festivito Feb 2013 #13
CBS was a viacom property pre 2005. alp227 Feb 2013 #17
Thank you. /nt Festivito Feb 2013 #20
I just sent this out to my Usual Suspects list. Jackpine Radical Feb 2013 #14
they are all entitled, thieving bastards Skittles Feb 2013 #24
Awesome graph, Scuba. Thanks for posting it. nt tpsbmam Feb 2013 #33
For the sake of those of us that love stats littlemissmartypants Feb 2013 #42
Sorry, I don't. My big sister sent it to me. Scuba Feb 2013 #46
^ + 1,000 upi402 Feb 2013 #45
That graphic needs to be spread far and wide... truebrit71 Feb 2013 #52
Was Lew the bait The Wizard Feb 2013 #5
More of that 16 level chess again. UnrepentantLiberal Feb 2013 #9
we are just idiots because we don't know how to play!!! Skittles Feb 2013 #25
We are the little people. UnrepentantLiberal Feb 2013 #29
Wish we could rec posts. nt awoke_in_2003 Feb 2013 #38
K & R and another example of the greasy revolving door... ProfessionalLeftist Feb 2013 #7
Re-named, from now on he is Jack Lewd to me. Kip Humphrey Feb 2013 #10
recommend.... KoKo Feb 2013 #11
Bankers are crooks. But please let us not forget and the question should be asked southernyankeebelle Feb 2013 #12
When ethics questions come from Orrin Hatch, you know we're in trouble. mountain grammy Feb 2013 #16
Haha. Love it! Great reply! Democracyinkind Feb 2013 #26
you bet. southernyankeebelle Feb 2013 #35
Hear. Hear. n/t littlemissmartypants Feb 2013 #43
The Church of Jesus Christ of Latter Day Saints (Mormons) defacto7 Feb 2013 #37
I didn't know that. But I would include a majority of the politicans are owned by southernyankeebelle Feb 2013 #49
A very scary group siligut Feb 2013 #50
K & R! Every American needs to be aware of this!! lastlib Feb 2013 #15
we are the culprits, not Jack Lew underthematrix Feb 2013 #18
Not without jobs. Nt abelenkpe Feb 2013 #53
I love Obama and think he's excruciatingly brilliant -- at times I'm a real Cheerleader. gateley Feb 2013 #21
Obama does not make corporatist appointments because he iemitsu Feb 2013 #27
These crooks don't just "find their way" into government & regulatory positions. bvar22 Feb 2013 #22
I haven't even seen the symbolic shaming of a handful of scapegoats yurbud Feb 2013 #41
President Obama sure can pick 'em. MotherPetrie Feb 2013 #28
Some days I get so discouraged, I want to cry. summerschild Feb 2013 #30
It's not fun having to post these sad stories Babel_17 Feb 2013 #31
WTF??? Fantastic Anarchist Feb 2013 #32
---and who nominated this puke? jerseyjack Feb 2013 #36
Bingo. forestpath Feb 2013 #51
I've said it before, but I'll say it again..... DeSwiss Feb 2013 #39
isn't that a smoking gun? They wouldn't give that parting gift unless they knew they were getting yurbud Feb 2013 #40
"DOH! Was that out loud?" upi402 Feb 2013 #44
k&r for exposure. n/t Laelth Feb 2013 #54

Angry Dragon

(36,693 posts)
2. The more I read about Jack Lew I come to the conclusion that he does not deserve to be in government
Sat Feb 16, 2013, 11:30 AM
Feb 2013

and perhaps he should be investigated

 

fasttense

(17,301 posts)
48. I think the purpose of Democrats and Democratic presidents
Sun Feb 17, 2013, 11:27 AM
Feb 2013

is to keep a lid on unrest and appease the angry mobs just enough to keep them from taking back democracy.

RepubliCONS only goal is to funnel our national treasures and power to corporate elites. Democrats have the added burden of having to SAY the right things so that the rumbling masses do not riot or get out of control.

That is why Gore did not call the people out in the streets when the Dancing Supremes stole the election for the bushes. Gore had done his job. It was to prevent massive protests. That is why Obama says very liberal things but does very RepubliCON things. Oh yes he throws a few bones to the masses like getting rid of DADT or pausing a suicidal oil pipeline. But he has to do those thing in order to get the rumbling masses to calm down just a little. His real goal is to ensure the neo-fascist state continues to harvest America's middle class.

That is why the corporate oligarch allows, every now and then, a Democratic political success.





mtasselin

(666 posts)
34. Why not
Sat Feb 16, 2013, 10:16 PM
Feb 2013

I think if they dig deep enough they will find out that he does belong in government, a government prison.

 

Scuba

(53,475 posts)
3. As for his compensation, Lew said: “I do believe it was comparable to compensation for ...
Sat Feb 16, 2013, 11:39 AM
Feb 2013

As for his compensation, Lew said: “I do believe it was comparable to compensation for people in positions like mine in the industry.”


So in other words, all the Banksters are paying bonuses for taking high-level government regulatory jobs?

As for the "public shaming as a deterrent", that's why they bought all the media. So there is no public shaming.



appacom

(296 posts)
6. Jesus God. . .scary, scary stuff
Sat Feb 16, 2013, 12:32 PM
Feb 2013

Thanks, I guess we dare not call it conspiracy. So weary fighting the ultimate uphill battle

citizen blues

(570 posts)
23. Conspiracy is not the right word.
Sat Feb 16, 2013, 02:44 PM
Feb 2013

Coup is more accurate. A right-wing, corporate coup. Owning our media so we don't hear about how much they own our government.

alp227

(32,033 posts)
17. CBS was a viacom property pre 2005.
Sat Feb 16, 2013, 01:53 PM
Feb 2013

I think the chart shows the two corporate eras of CBS, as a viacom property and independent company.

littlemissmartypants

(22,692 posts)
42. For the sake of those of us that love stats
Sun Feb 17, 2013, 01:47 AM
Feb 2013

Do you have a link to that graphic, not Facebook? Thanks. lmsp

The Wizard

(12,545 posts)
5. Was Lew the bait
Sat Feb 16, 2013, 12:06 PM
Feb 2013

Obama used to get Repubes to support real Wall Street reform? With Elizabeth Warren in the shadows, Wall Street shysters and their legislative enablers have to be soiling their drawers. Time will tell.

 

southernyankeebelle

(11,304 posts)
12. Bankers are crooks. But please let us not forget and the question should be asked
Sat Feb 16, 2013, 01:28 PM
Feb 2013

of Orrin how much money is he getting from bankers that we don't know about to pass their bills? It's all sickening. They wash each others back. Shame on the bunch. The citizens are getting screwed by both politicans and bankers.

defacto7

(13,485 posts)
37. The Church of Jesus Christ of Latter Day Saints (Mormons)
Sat Feb 16, 2013, 11:24 PM
Feb 2013

The owners of more real estate, food conglomerates, and businesses than you can possibly imagine. The wealthiest of ALL religious organizations per capita "including" the Catholic Church. Orrin's path to his own planet. That's his banker.

 

southernyankeebelle

(11,304 posts)
49. I didn't know that. But I would include a majority of the politicans are owned by
Sun Feb 17, 2013, 12:43 PM
Feb 2013

bankers. It's really sad.

siligut

(12,272 posts)
50. A very scary group
Mon Feb 18, 2013, 06:20 PM
Feb 2013

The Mormons are also employed in government from the IRS to the NSA. They cannot be trusted to keep secrets from the church/God but outsiders have no idea, so they are in sensitive positions.

underthematrix

(5,811 posts)
18. we are the culprits, not Jack Lew
Sat Feb 16, 2013, 01:55 PM
Feb 2013

We are a consumer based society. We make money for them by buying their products.

gateley

(62,683 posts)
21. I love Obama and think he's excruciatingly brilliant -- at times I'm a real Cheerleader.
Sat Feb 16, 2013, 02:14 PM
Feb 2013

But some of his appointments have always puzzled and concerned me. I honestly believe he wants what we do, so I don't understand some of these choices.

Like every decision a President makes, we out here don't know all what goes into it and don't have all the information, but again, surely there are less tainted individuals who are qualified for the job?


EDIT -- typo (I didn't know how to spell excruciatingly, apparently)

iemitsu

(3,888 posts)
27. Obama does not make corporatist appointments because he
Sat Feb 16, 2013, 06:56 PM
Feb 2013

wants what we want. He does that so things don't change.

bvar22

(39,909 posts)
22. These crooks don't just "find their way" into government & regulatory positions.
Sat Feb 16, 2013, 02:25 PM
Feb 2013

They are APPOINTED to these positions by the POLITICIANS
we elect to represent us.
This is a Bi-Partisan SCAM,
with Republicans and "Centrist" Democrats sharing the shame.

Bill Clinton and the DLC "Centrist" Democrats opened the door to this evil in the early 90s.
Despite Senator Warren's crowd pleasing efforts, I don't believe much will be done to contain this evil beyond the public humiliation of a handful of scapegoats.
$940,000 Dollars can buy a lot of tolerance to a little public shaming.



You will know them by their WORKS,
not by their rhetoric, promises, or excuses.
[font size=5 color=green]Solidarity99![/font][font size=2 color=green]
--------------------------------------------------------------------------------------------------------------------------------[/center]

 

DeSwiss

(27,137 posts)
39. I've said it before, but I'll say it again.....
Sun Feb 17, 2013, 12:01 AM
Feb 2013

...you can't ''fix'' [font size=4]CORRUPT.[/font]

- K&R

yurbud

(39,405 posts)
40. isn't that a smoking gun? They wouldn't give that parting gift unless they knew they were getting
Sun Feb 17, 2013, 01:23 AM
Feb 2013

something for their money

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