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Sat Feb 16, 2013, 10:10 AM

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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Arrow 54 replies Author Time Post
Reply Senator Orrin Hatch Drops a Bombshell at Jack Lew’s Confirmation Hearing (Original post)
unhappycamper Feb 2013 OP
Tuesday Afternoon Feb 2013 #1
Angry Dragon Feb 2013 #2
alp227 Feb 2013 #19
fasttense Feb 2013 #48
mtasselin Feb 2013 #34
Scuba Feb 2013 #3
Pat Riot Feb 2013 #4
appacom Feb 2013 #6
citizen blues Feb 2013 #23
appacom Feb 2013 #47
valerief Feb 2013 #8
Festivito Feb 2013 #13
alp227 Feb 2013 #17
Festivito Feb 2013 #20
Jackpine Radical Feb 2013 #14
Skittles Feb 2013 #24
tpsbmam Feb 2013 #33
littlemissmartypants Feb 2013 #42
Scuba Feb 2013 #46
upi402 Feb 2013 #45
truebrit71 Feb 2013 #52
The Wizard Feb 2013 #5
UnrepentantLiberal Feb 2013 #9
Skittles Feb 2013 #25
UnrepentantLiberal Feb 2013 #29
awoke_in_2003 Feb 2013 #38
ProfessionalLeftist Feb 2013 #7
Kip Humphrey Feb 2013 #10
KoKo Feb 2013 #11
southernyankeebelle Feb 2013 #12
mountain grammy Feb 2013 #16
Democracyinkind Feb 2013 #26
southernyankeebelle Feb 2013 #35
littlemissmartypants Feb 2013 #43
defacto7 Feb 2013 #37
southernyankeebelle Feb 2013 #49
siligut Feb 2013 #50
lastlib Feb 2013 #15
underthematrix Feb 2013 #18
abelenkpe Feb 2013 #53
gateley Feb 2013 #21
iemitsu Feb 2013 #27
bvar22 Feb 2013 #22
yurbud Feb 2013 #41
MotherPetrie Feb 2013 #28
summerschild Feb 2013 #30
Babel_17 Feb 2013 #31
Fantastic Anarchist Feb 2013 #32
jerseyjack Feb 2013 #36
forestpath Feb 2013 #51
DeSwiss Feb 2013 #39
yurbud Feb 2013 #40
upi402 Feb 2013 #44
Laelth Feb 2013 #54

Response to unhappycamper (Original post)

Sat Feb 16, 2013, 10:11 AM

1. DU Rec.

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 10:30 AM

2. The more I read about Jack Lew I come to the conclusion that he does not deserve to be in government

and perhaps he should be investigated

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Response to Angry Dragon (Reply #2)

Sat Feb 16, 2013, 12:58 PM

19. he also busts unions

as Mike Malloy reported:



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Response to alp227 (Reply #19)

Sun Feb 17, 2013, 10:27 AM

48. I think the purpose of Democrats and Democratic presidents

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.





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Response to Angry Dragon (Reply #2)

Sat Feb 16, 2013, 09:16 PM

34. Why not

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

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 10:39 AM

3. As for his compensation, Lew said: “I do believe it was comparable to compensation for ...

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.



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Response to Scuba (Reply #3)

Sat Feb 16, 2013, 10:58 AM

4. Thanks for that graphic, Scuba. nt

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Response to Scuba (Reply #3)

Sat Feb 16, 2013, 11:32 AM

6. Jesus God. . .scary, scary stuff

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

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Response to appacom (Reply #6)

Sat Feb 16, 2013, 01:44 PM

23. Conspiracy is not the right word.

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

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Response to citizen blues (Reply #23)

Sun Feb 17, 2013, 08:32 AM

47. You're right.

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Response to Scuba (Reply #3)

Sat Feb 16, 2013, 11:45 AM

8. Great graphic!!!! nt

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Response to Scuba (Reply #3)

Sat Feb 16, 2013, 12:32 PM

13. Why two CBSs, one separate, one under Viacom?

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Response to Festivito (Reply #13)

Sat Feb 16, 2013, 12:53 PM

17. CBS was a viacom property pre 2005.

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

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Response to alp227 (Reply #17)

Sat Feb 16, 2013, 01:13 PM

20. Thank you. /nt

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Response to Scuba (Reply #3)

Sat Feb 16, 2013, 12:44 PM

14. I just sent this out to my Usual Suspects list.

Thanks, Scuba

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Response to Scuba (Reply #3)

Sat Feb 16, 2013, 05:15 PM

24. they are all entitled, thieving bastards

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Response to Scuba (Reply #3)

Sat Feb 16, 2013, 08:54 PM

33. Awesome graph, Scuba. Thanks for posting it. nt

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Response to Scuba (Reply #3)

Sun Feb 17, 2013, 12:47 AM

42. For the sake of those of us that love stats

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

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Response to littlemissmartypants (Reply #42)

Sun Feb 17, 2013, 05:31 AM

46. Sorry, I don't. My big sister sent it to me.

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Response to Scuba (Reply #3)

Sun Feb 17, 2013, 02:30 AM

45. ^ + 1,000

:bow:

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Response to Scuba (Reply #3)

Mon Feb 18, 2013, 05:33 PM

52. That graphic needs to be spread far and wide...

...thanks for sharing it...

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 11:06 AM

5. Was Lew the bait

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.

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Response to The Wizard (Reply #5)

Sat Feb 16, 2013, 11:49 AM

9. More of that 16 level chess again.

 

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Response to UnrepentantLiberal (Reply #9)

Sat Feb 16, 2013, 05:15 PM

25. we are just idiots because we don't know how to play!!!

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Response to Skittles (Reply #25)

Sat Feb 16, 2013, 06:46 PM

29. We are the little people.

 

Wisdom like this is above our heads.

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Response to UnrepentantLiberal (Reply #9)

Sat Feb 16, 2013, 10:40 PM

38. Wish we could rec posts. nt

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 11:43 AM

7. K & R and another example of the greasy revolving door...

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 11:52 AM

10. Re-named, from now on he is Jack Lewd to me.

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 12:13 PM

11. recommend....

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 12:28 PM

12. Bankers are crooks. But please let us not forget and the question should be asked

 

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.

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Response to southernyankeebelle (Reply #12)

Sat Feb 16, 2013, 12:53 PM

16. When ethics questions come from Orrin Hatch, you know we're in trouble.

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Response to mountain grammy (Reply #16)

Sat Feb 16, 2013, 05:22 PM

26. Haha. Love it! Great reply!

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Response to mountain grammy (Reply #16)

Sat Feb 16, 2013, 09:39 PM

35. you bet.

 

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Response to mountain grammy (Reply #16)

Sun Feb 17, 2013, 12:48 AM

43. Hear. Hear. n/t

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Response to southernyankeebelle (Reply #12)

Sat Feb 16, 2013, 10:24 PM

37. The Church of Jesus Christ of Latter Day Saints (Mormons)

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.

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Response to defacto7 (Reply #37)

Sun Feb 17, 2013, 11:43 AM

49. I didn't know that. But I would include a majority of the politicans are owned by

 

bankers. It's really sad.

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Response to defacto7 (Reply #37)

Mon Feb 18, 2013, 05:20 PM

50. A very scary group

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.

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 12:45 PM

15. K & R! Every American needs to be aware of this!!

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 12:55 PM

18. we are the culprits, not Jack Lew

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

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Response to underthematrix (Reply #18)

Mon Feb 18, 2013, 05:33 PM

53. Not without jobs. Nt

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 01:14 PM

21. I love Obama and think he's excruciatingly brilliant -- at times I'm a real Cheerleader.

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)

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Response to gateley (Reply #21)

Sat Feb 16, 2013, 05:56 PM

27. Obama does not make corporatist appointments because he

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

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 01:25 PM

22. These crooks don't just "find their way" into government & regulatory positions.

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.
Solidarity99!
--------------------------------------------------------------------------------------------------------------------------------

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Response to bvar22 (Reply #22)

Sun Feb 17, 2013, 12:24 AM

41. I haven't even seen the symbolic shaming of a handful of scapegoats

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 06:09 PM

28. President Obama sure can pick 'em.

 

Yet another sickeningly foul and corrupt cabinet choice.

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 06:49 PM

30. Some days I get so discouraged, I want to cry.


This is one of 'em.

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 08:11 PM

31. It's not fun having to post these sad stories

but it's important work. Thank you.

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 08:33 PM

32. WTF???

Is this Obama's transparancy?

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 10:23 PM

36. ---and who nominated this puke?

 

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Response to jerseyjack (Reply #36)

Mon Feb 18, 2013, 05:29 PM

51. Bingo.

 

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Response to unhappycamper (Original post)

Sat Feb 16, 2013, 11:01 PM

39. I've said it before, but I'll say it again.....

...you can't ''fix'' CORRUPT.

- K&R

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Response to unhappycamper (Original post)

Sun Feb 17, 2013, 12:23 AM

40. isn't that a smoking gun? They wouldn't give that parting gift unless they knew they were getting

something for their money

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Response to unhappycamper (Original post)

Sun Feb 17, 2013, 02:28 AM

44. "DOH! Was that out loud?"



More daylight please!

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Response to unhappycamper (Original post)

Mon Feb 18, 2013, 06:09 PM

54. k&r for exposure. n/t

-Laelth

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