Friday, January 30, 2009

Tom Daschle PEU


President Obama's nominee for Health & Human Services has a checkered past. Tom Daschle failed to pay more than $128,000 in taxes. The back taxes related to his compensation and benefits working for InterMedia Advisers, a private equity underwriter (PEU). Daschle received over $2.2 million in compensation for chairing InterMedia's advisory board. Nearly $200,000 related to a car and driver provided to Mr. Daschle.

Tom paid over $140,000 in taxes and interest. Did he get the same no penalty treatment as Treasury Chief Tim Geithner?

Tom served briefly on the board of another PEU, the Apollo Group. He resigned mere months after his appointment. Daschle served on InterMedia's board from 2005-2007.

Some members of the Senate Finance Committee share my concern about Tom's stint at Alston & Bird. The New York Times reported:


Mr. Daschle said he had received $2.1 million in “wages and bonuses” from Alston & Bird and more than $390,000 for speeches to groups like America’s Health Insurance Plans. He also said he had received more than $5,000 for giving “policy advice” to UnitedHealth, one of the nation’s largest insurers.

Alston & Bird's Tom Scully registered as a lobbyist, Daschle did not. If Geithner and the Raytheon lobbyist can be approved, Tom's a shoe-in.