Budget appointee continues Obama’s ties to Wall Street
When President Obama introduced Jacob J. “Jack” Lew as his top budget officer Tuesday, he praised his work handling finances in the Clinton White House and recently as a deputy secretary in the State Department — but he forgot to mention the lucrative Wall Street job in between.
By Jim McElhatton at Washington Times
Mr. Lew was chief operating officer at Citi Alternative Investments, a unit of Citigroup, just before joining the Obama administration last year. Citigroup received a big bailout months before Mr. Lew took his last job as Deputy Secretary of State for $177,000 per year.
It was a big pay cut.
Mr. Lew took home $1.1 million in compensation from Citigroup during 2008 and the first two weeks of January 2009, according to his 2009 government ethics filing.
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