The Corner

Laugh or Cry?

Details of a liberal summit leaked out where one of the ambitious goals of the next four years was to “get big money out of politics.” One assumes, then, that the vast new liberal coalition will oppose the nomination of Jack Lew for Treasury secretary. The revolving-door Lew (cf. the similar career of Obamite former OMB director Peter Orszag now at Citigroup) took a nearly $950,000 million “bonus” from Citigroup in 2009, the very year the poorly managed and reeling bank was a recipient of a huge TARP federal bailout. That was the sort of “obscene” Wall Street bonus that Obama himself once derided as “fat cats who are getting awarded for their failure.” Perhaps instead of seeking new laws, all the liberal umbrella organizations would have to do is self-police themselves and abide by conflict-of-interest statutes and campaign laws on the books — given that Barack Obama was the first presidential candidate in the history of campaign-public-financing laws to opt out of the legislation during the 2008 general election, perhaps because he was on record as the largest beneficiary of BP and Goldman Sachs cash, in raising the most money in the history of presidential elections.


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