Bush Pick Gets Extra Payment From Old Job (CPSC Baroody)

[RamboLiberal]

Source: NY Times

A senior lobbyist at the National Association of Manufacturers nominated by President Bush to lead the Consumer Product Safety Commission will receive a $150,000 departing payment from the association when he takes his new government job, which involves enforcing consumer laws against members of the association.

The lobbyist, Michael E. Baroody, wrote recently to the commission’s general counsel that the severance was an “extraordinary payment” under a federal ethics rule, requiring him to remove himself from agency matters involving the association for two years. Under the rule, a payment is “extraordinary” if an employer grants it after learning that the employee is being considered for a government position and it is not part of an established compensation or benefits program.

Mr. Baroody said in the letter that the payment would not prevent him from considering matters involving individual companies that are members of the manufacturers’ association, many of whom are defendants in agency proceedings over defective products or have other business before the commission. Nor would it preclude him from involvement with smaller trade groups like those representing makers of home appliances and children’s products that have alliances with the association.

As chairman of the commission, Mr. Baroody’s salary would be $154,600. With the severance payment and an additional lump sum of $44,571 for unused leave time, Mr. Baroody would receive $349,171 this year. That amount, which excludes Mr. Baroody’s pension and retirement payments, nearly matches the $344,607 salary that Mr. Baroody earned as the second-highest-paid executive at the association last year.



Read more: http://www.nytimes.com/2007/05/16/washington/16safety.html?hp

[provis99]

1. why do articles about the Bush administration look more and more like parodies from "The Onion"

good grief. The lobbyist for manufacturers is going to protect consumers now? And with a $150,000 bribe from industry? My head hurts.

[Shallah Kali]

2. it's the government of the corporation, by the corporation, for the corporation

:scared:

[chill_wind]

3. Peanuts. How about *18.7 million* "bonus"? Paulson Pay-off at the Bush Treasury

**18.7 MILLION bonus** from Goldman Sachs for 6 months work?

I journaled about this some 10 months ago. I thought it stunk to the heavens. For instance, read the POGO stuff at the DU link below. It didn't get any attention, but it is positively startling- all of it.

Including his unquestioned confirmation by unanimous voice vote.
The deliberation of which apprantly took all of an agonizing 3 whole hours of soul-searching.

Chuck Schumer:

"We need someone who is seasoned. We need someone who knows markets," Schumer said. "In the world of finance and international markets there's simply no equal to Hank."

Oh heh heh. Ain't that right.

The Paulson Payoff at the Bush Treasury Department


So again, a simple question: With Goldman Sachs handing incoming Treasury Secretary Henry Paulson an $18.7 million bonus for six months of service, what is the company looking for in return? After all, Goldman Sachs has had a lot of business before the government that Paulson's Treasury Department has been involved in and can influence. Here are just a few factoids about the Goldman Sachs-Government connections that raise questions about the Paulson payoff:

- The nonpartisan Project on Government Oversight (POGO) noted in a major 2002 study that Goldman Sachs is one of the largest beneficiaries of government contracts in America. It is also one of the contractors that POGO noted "have been found to have repeatedly broken the law or engaged in misconduct," yet still receives government contracts.

- MSN Money notes that Goldman Sachs main profit-makers is its offering of "investment banking services to corporate and government clients."

- The Associated Press reported in 2004 that "Goldman Sachs is being sued by investors who say the firm cost them money by trading on advance knowledge of the Treasury Department's announcement in October 2001 that the government was ending sales of new 30-year bonds." Goldman Sachs "previously settled government charges that one of its economists used an illegal tip to make millions for the firm in advance of the announcement."


more: http://www.huffingtonpost.com/david-sirota/the-paulson-payoff-at-the_b_24379.html

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x2719534

[salin]

4. So, while by definition it is "extraordinary" - and by rules should require

him to exclude involvement in decisions related to members of the payout organization... all he has to say is "no, it isn't extraordinary and I CAN (and will) be involved in these decisions" - that's it? Of course - in bush world these folks wear conflicts of interest as a bold badge of honor.