Friday, March 8, 2013

Lew'ed Government-Corporate Monstrosity

New Treasury Chief Jack Lew epitomizes the Government-Corporate Monstrosity (GCM), Eisenhower's Military Industrial Complex on trillions in federal steroids.  Salon detailed how Jack rode the GCM:

New York University, a non-profit, gave Jack Lew more than a million dollars in mortgage loans when he became executive vice president of operations there and a $685,000 severance when he left the university to join Citigroup – all at a time when student tuition fees were going through the roof (and NYU was receiving a kickback: .25 percent of net student loans from the bank it was pushing to students as a “preferred lender” – Citigroup). And we learned that Lew’s multimillion-dollar Citigroup contract included a $944,518 bonus if he moved on to a “full time high level position with the U.S. government or regulatory body.” (Remember, too, that in the years while Lew happened to be there, Citigroup’s stock lost 85 percent of shareholder value as it received $45 billion in taxpayer bailout cash.)

Lew is in charge of the federal cash dispensary.  

The perks in Lew’s past contracts are typical of the friendly deals made amongst the endowed elite.
The money awaiting Lew after his Treasury stint will be staggering.  The GCM is absolutely Lew'ed.