Economy
Related: About this forumSenator 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 Lews 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 Streets Citigroup if you can land a full time high level position with the United States Government or a regulatory body. It cant be just a part-time job, mind you; and you cant be rank and file. Citigroups 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 Lews 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 taxpayers funds, the unflappable Lew calmly and politely answered the questions.
Unfortunately, his answers lacked both substance and credibility. One of Lews 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:
Tuesday Afternoon
(56,912 posts)Angry Dragon
(36,693 posts)and perhaps he should be investigated
alp227
(32,060 posts)as Mike Malloy reported:
fasttense
(17,301 posts)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)I think if they dig deep enough they will find out that he does belong in government, a government prison.
Scuba
(53,475 posts)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.
Pat Riot
(446 posts)appacom
(296 posts)Thanks, I guess we dare not call it conspiracy. So weary fighting the ultimate uphill battle
citizen blues
(570 posts)Coup is more accurate. A right-wing, corporate coup. Owning our media so we don't hear about how much they own our government.
appacom
(296 posts)valerief
(53,235 posts)Festivito
(13,452 posts)alp227
(32,060 posts)I think the chart shows the two corporate eras of CBS, as a viacom property and independent company.
Festivito
(13,452 posts)Jackpine Radical
(45,274 posts)Thanks, Scuba
Skittles
(153,193 posts)tpsbmam
(3,927 posts)littlemissmartypants
(22,819 posts)Do you have a link to that graphic, not Facebook? Thanks. lmsp
Scuba
(53,475 posts):bow:
truebrit71
(20,805 posts)...thanks for sharing it...
The Wizard
(12,549 posts)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.
UnrepentantLiberal
(11,700 posts)Skittles
(153,193 posts)UnrepentantLiberal
(11,700 posts)Wisdom like this is above our heads.
awoke_in_2003
(34,582 posts)ProfessionalLeftist
(4,982 posts)This one, to the SEC:
http://billmoyers.com/2013/02/15/pogo-sticks-it-to-the-sec/
Kip Humphrey
(4,753 posts)KoKo
(84,711 posts)southernyankeebelle
(11,304 posts)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.
mountain grammy
(26,655 posts)Democracyinkind
(4,015 posts)southernyankeebelle
(11,304 posts)littlemissmartypants
(22,819 posts)defacto7
(13,485 posts)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)bankers. It's really sad.
siligut
(12,272 posts)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.
lastlib
(23,303 posts)underthematrix
(5,811 posts)We are a consumer based society. We make money for them by buying their products.
abelenkpe
(9,933 posts)gateley
(62,683 posts)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)wants what we want. He does that so things don't change.
bvar22
(39,909 posts)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]
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yurbud
(39,405 posts)MotherPetrie
(3,145 posts)Yet another sickeningly foul and corrupt cabinet choice.
summerschild
(725 posts)This is one of 'em.
Babel_17
(5,400 posts)but it's important work. Thank you.
Fantastic Anarchist
(7,309 posts)Is this Obama's transparancy?
jerseyjack
(1,361 posts)forestpath
(3,102 posts)DeSwiss
(27,137 posts)...you can't ''fix'' [font size=4]CORRUPT.[/font]
- K&R
yurbud
(39,405 posts)something for their money
upi402
(16,854 posts)More daylight please!
Laelth
(32,017 posts)-Laelth