Budget office nominee received huge Citigroup bonus

The Washington Times reports that records reveal that Jacob Lew, the man President Obama wants to head the Office of Management and Budget, received more than $900,000 from Citigroup after Uncle Sam bailed out the Wall Street firm.

Slate also reports that Lew received the money about two weeks before joining the State Department as deputy secretary of state, and four days after he filed his 2008 ethics disclosure. The nearly $1 million bonus was on top of his $1.1 million compensation package for 2008. Members of Congress have been harshly critical of Wall Street executives who received huge bonuses after taxpayers had to put up the cash to save firms from collapse, and the issue is bound to come up at Lew’s confirmation hearings. Lew has lots of experience in Washington and led the OMB from 1998 until the end of President Clinton’s administration.

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