…as Secretary of the Treasury?
Prior to joining the Obama administration (initially as a Deputy Secretary of State, later as White House Chief of Staff), Mr Lew worked at Citigroup, where his employment agreement contained an interesting provision…specifically, a provision protecting his accrued bonus money in the event that he left the bank to take “a full-time high level position with the United States government or regulatory body.”
Suppose you were running a business, the XYZ Company, and were considering hiring for a key position a person who was working for one of your customers or suppliers..and you found out that he had an employment agreement providing special bonus protection in the event that he takes “a full-time high-level position at the XYZ Company.” Would you hire him? Might you be just a little bit concerned that your customer/supplier was trying to implant in your company an individual who would steer the business decisions in favor of that customer or supplier, rather than focusing resolutely on the interests of XYZ Company itself?
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