This makes me sick. My stomach is churning as I write.
Thursday’s WSJ, reporting on confirmation hearings for President Obama’s nominee for Treasury Secretary, Jack Lew, revealed the answer to Senator Elizabeth Warren’s question about why no banksters are in jail.
http://wallstreetonparade.com/…
Why not?
Because the banks pay the banksters only if they take high-powered policy or regulatory positions from which they can protect themselves and their co-conspiratorts.
Here’s Senator Hatch reading from Jack Lew’s contract with Citigroup.
. . . Third, your employment agreement included a clause stating that ‘your guaranteed incentive and retention award’ would not be paid upon exit from Citigroup but there was an exception that you would receive that compensation ‘as a result of your acceptance of a full time high level position with the United States Government or a regulatory body.’
So:
1. He gets a bonus.
2. But if he leaves Citigroup he does NOT get the bonus.
3. HOWEVER, if he leaves Citigroup for “a full time high level position with the United States Government or a regulatory body,” then, he gets the money.
No matter what you think about Hatch or the WSJ . . . and, in my case, that’s not much . . . Hatch appears to be reading from Lew’s contract with Citigroup and not making up accusations.
Think about: We will give you close to a million $$$ ONLY if you leave here and go to work for the very people who are regulating us — wink, wink, wink.
Cue the theme music from The Sopranos.
http://www.youtube.com/watch?v…
Why do any of us even try to be honest and hard-working?
I’m writing to Senators Kaine and Warren, asking them to NOT support Lew. Lew needs to step down and go back to Citigroup. Or to jail.
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