The other party of the rich

By Michelle Malkin  •  April 4, 2009 10:51 AM

So much for branding the Republican Party the “party of the rich.”

So much for Michelle Obama’s call to spurn corporate America and hedge fund companies and the perks of private-sector life.

Earn as they say, not as they earn:

Top White House economic adviser Lawrence Summers received about $5.2 million over the past year in compensation from hedge fund D.E. Shaw, and also received hundreds of thousands of dollars in speaking fees from major financial institutions.

A financial disclosure form released by the White House Friday afternoon shows that Mr. Summers made frequent appearances before Wall Street firms including J.P. Morgan, Citigroup, Goldman Sachs and Lehman Brothers. He also received significant income from Harvard University and from investments, the form shows.

In total, Mr. Summers made a total of about 40 speaking appearances to financial sector firms and other places, with fees totaling about $2.77 million. Fees ranged from $10,000 for a Yale University speech to $135,000 for an appearance paid for by Goldman Sachs & Co…

More cashin’ in from the true representatives of the little people:

David Axelrod, the president’s top political advisor, reported in his form that he will get $3 million over the next five years from the sale of his two media consulting firms, ASK Public Strategies, LLC and AKP&D Message and Media. In addition, Mr. Axelrod took a salary of $896,776 last year from AKP&D and reported $651,914 in partnership income from the two companies.

In total, Mr. Axelrod reported assets valued between $6.9 million and $9.5 million. Mr. Axelrod’s clients were mostly political campaigns, including those of Rep. Patrick Kennedy, New York Attorney General Andrew Cuomo, and Chicago Mayor Richard M. Daley. He also reported receiving money from large corporations such as AT&T Inc., Comcast Corp. and the nuclear energy company Exelon Corp…

…Valerie Jarrett, assistant to the president for intergovernmental affairs, lists a $300,000 salary and $550,000 in deferred compensation from The Habitat Executive Services, Inc., in Chicago.

Ms. Jarrett also disclosed payments of more than $346,000 for service on boards of directors that reflect her political ties, and work in Chicago real estate and community development.

She was paid $76,000 last year for service as a director of Navigant Consulting, Inc. a Chicago-based global consulting group with governmental clients. She received $146,600 for service on the board of USG Corporation, a building materials manufacturer, and $58,000 to serve on the board of Rreef American REIT II, a real estate investment trust based in San Francisco. The Chicago Stock Exchange, Inc., paid her $34,444 to serve on its board.

Deputy National Security Advisor Tom Donilon earned $3.9 million as a partner at the law firm of O’Melveny & Myers LLP, where his clients include Citigroup, Inc., Goldman, Sachs & Co., and Obama fundraiser and heiress Penny Pritzker.

Carol Browner, assistant to the president for energy and climate change, disclosed earnings of between $1 million and $5 million from lobbying firm Downey McGrath Group, Inc., where her husband, Thomas Downey, is a principal. She states $450,000 in “member distribution” income, plus retirement and other benefits from The Albright Group, a lobbying firm whose principals include former Secretary of State Madeline Albright.

~ For the latest breaking news, be sure to join Michelle's e-mail list ~
Posted in: Democrats

See what others have said

Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.

Comments


  1. #1
    On April 4th, 2009 at 10:58 am, bansharia said:

    hurryyyy b4 the obambi tax hikes kick in
    SPIT

  2. #2
    On April 4th, 2009 at 11:00 am, wrcnossen said:

    Most people in the upper levels of government are rich, no matter the party. Do you really want someone who makes $10 per hour to move into one of these positions? While I do not agree with thier politics, there are few people with the determination and the desire to do these jobs, and they get paid big bucks in the civilian world.

  3. #3
    On April 4th, 2009 at 11:00 am, bansharia said:

    its only a bonus if you work for AIG
    SPIT SPIT SPIT

  4. #4
    On April 4th, 2009 at 11:02 am, Stillwaiting said:

    It’s all about motive and intent. Everything the Dem’s do is noble and honest. But Republicans doing the same things are clearly evil.

  5. #5
    On April 4th, 2009 at 11:02 am, bansharia said:

    WR,
    hmm remind me please what an ACORN community agi-tater gets payed?
    and your premise is abject bunk for the record PERIOD

  6. #6
    On April 4th, 2009 at 11:04 am, JHSII said:

    Who was it that said that we would probably all be better off if we were governed by the first 100 names or so out of the phone book?

    Sadly, I think they were right.
    - although I think they should start somewhere further in the book so I am included :lol:

  7. #7
    On April 4th, 2009 at 11:05 am, bansharia said:

    oh and WR yes I want anyone to be able to get elected vs the whores we have now.
    what is it YOU want?
    after you put your moral equivication crap aside that is.

  8. #8
    On April 4th, 2009 at 11:06 am, bansharia said:

    RIP Bucky a fine rag picker.

  9. #9
    On April 4th, 2009 at 11:06 am, Stillwaiting said:

    On April 4th, 2009 at 11:00 am, wrcnossen said:

    It’s not the money or how they earn it, it’s the hypocrisy.

  10. #10
    On April 4th, 2009 at 11:08 am, bansharia said:

    Still gets it.
    rw remind me how the clintons ever made a dime again, endless examples of showed up po played the ho and walked away rich pols.

  11. #11
    On April 4th, 2009 at 11:10 am, DBNinKY said:

    Top White House economic adviser Lawrence Summers received about $5.2 million over the past year in compensation from hedge fund D.E. Shaw, and also received hundreds of thousands of dollars in speaking fees from major financial institutions.

    And America’s middle class grew three sizes that day!

    What a lovely fairy tale that “grow the middle class/tax cut” was – pure pablum! Unfortunately though, Americans bought it.

  12. #12
    On April 4th, 2009 at 11:14 am, bansharia said:

    JH,
    for clarification a rag picker is someone who sails vs a stink potter someone who motors. should not have been obtuse and presumed all knew that.

  13. #13
    On April 4th, 2009 at 11:18 am, bansharia said:

    DB,
    while some who live in America voted for obambi they are not Amrican not even close as they have ZERO concept what America is. Please do not give them the Blessed title of American.

  14. #14
    On April 4th, 2009 at 11:31 am, zorro said:

    The new bourgeoisie.

  15. #15
    On April 4th, 2009 at 11:43 am, sonofdy said:

    So democrat corruption is ok but republican coruption is bad???

    Is that right stillwaiting?

  16. #16
    On April 4th, 2009 at 12:14 pm, vsatt said:

    It does seem hypocritical to want to cap executive pay and compensation across the board, with or without tarp money, while their own people boasted compensations larger than what they’re saying is acceptable.

    However, I’m not particularly concerned with what they made last year in the private sector. More power to them, wish it was me. What I want to see is this time next year, how much they made in 2009 once they were on the taxpayer payrolls. I would imagine that having such all-important jobs during these times of crisis, they wouldn’t have the time to devote to outside pursuits.

  17. #17
    On April 4th, 2009 at 12:15 pm, WaterBoyz said:

    Speaking of outrage….

    “Fannie, Freddie Bonuses Total About $210 Million”

    James Lockhart, director of the Federal Housing Finance Agnecy, said “For personal privacy and safety reasons, it wouldn’t be appropriate to release the names of all those receiving bonuses of $1000,000 or more.”

    And Barney Frank said?
    cricket sounds…

  18. #18
    On April 4th, 2009 at 12:15 pm, bradley said:

    Good to see no lobbyists are involved. Except for maybe a dozen or two. Hypocrisy? Thy name is Democrat.

  19. #19
    On April 4th, 2009 at 12:17 pm, WaterBoyz said:

    …oops
    bonuses of $1000,000 $100,000 or more.

  20. #20
    On April 4th, 2009 at 12:20 pm, nbarry said:

    Well, a guy’s gotta make a living…

  21. #21
    On April 4th, 2009 at 12:21 pm, hitcharide said:

    No….corruption is bad in either case, but when a conservative is corrupt, we kick his butt out, whereas corruption for a democrat is expected and used as a resume builder. I can’t think of a republican in office that was a member of the kkk….killed a woman on a drunken midnight ride….ran a gay prostitution ring out of their apartment…took millions in real estate kickbacks/money laundering, and so forth. We have a democrat running the committee dealing with taxes who didn’t pay his own taxes, had a dem on the ethics committee who had 90k in a freezer…every top democrat has an establised list of crimes and/or wrongdoings, yet are NEVER held accountable, either by a court of law or by their own electorate. Don’t know how this double standard came about and I wonder if middle America will ever hold such people to task…I know msm is in the bag but how our republican reps got to be so spineless as to not bring these issues up publically and daily is beyond me. I’m contemplating running for office myself in ’10. I expect zero backing from the RNC as I intend to be very outspoken and blunt, I’ll call ‘em as I see ‘em, and if I achieve nothing else, I’ll generate some knowledge and interest in how our local and federal politicians “do business.”

  22. #22
    On April 4th, 2009 at 12:46 pm, pueblo1032 said:

    Thus the term “LIMOUSINE LIBERALS”… Any questions???

  23. #23
    On April 4th, 2009 at 12:53 pm, yohannbiimu said:

    Here’s the blinding hypocrisy to me–the Democrats what to define “millionaires” as folks who make $150,000 a year (or is it $75,000 now?), and yet it is THEY who use much of their money towards charitable giving for the poor Worldwide. However, when you take someone like Obama and his LITERAL millions (from the sales of the books that he supposedly “wrote,” and other money that found its way into his deep pockets), he can’t even put up the poor folks WHO ARE HIS OWN FLESH-AND-BLOOD!

    Why doesn’t Congress draft a bill that forces the president to shell out 100% of the money for his Aunt’s provisions, so WE don’t have to. How come SHE is OUR responsibility? Why is she living on OUR dime? I am outraged that THE PRESIDENT OF THE UNITED STATES has an Aunt of foreign abstraction who is FORCED to live as some sort of refugee, using PUBLIC ASSISTANCE.

    IF OBAMA doesn’t care enough about his OWN FLESH-AND-BLOOD to give her assistance from his own pocket, then WHY THE HELL SHOULD I? The greed and utter disregard of your common leftist in this country is disgusting, yet THEY get all the credit from the media for “caring” about the needy and the disenfranchised. The disconnect here is maddening.

  24. #24
    On April 4th, 2009 at 12:57 pm, yohannbiimu said:

    The greed and utter disregard of from your common leftist in this country is disgusting, yet THEY get all the credit from the media for “caring” about the needy and the disenfranchised.

    There, fixed it.

  25. #25
    On April 4th, 2009 at 1:13 pm, goodforlaughs said:

    And where do all these thieves get their start before they get to Congress? They all have their hands in each other’s pockets. Just take the Chicago thug group and see where all the paths cross. It’s rezko, obama, seiu, obama, blago, obama, acorn, obama, rahm. And that’s just breaking the crust off one dirty cesspool. Follow the money trail. Taxpayers, it’s your tax dollars at work.

  26. #26
    On April 4th, 2009 at 1:26 pm, robhic said:

    Will these clowns now have to have their “speaking fees” approved or set by someone in France or even Iran because of Nobama’s new selling out of our sovereignty?

    They want to tell us what corporate and even not-so-corporate folks can earn? Well, looks like what’s good for the goose…

    Can that lying snake Axelrod and others get by on a $50,000 fee instead of the millions they now expect?

  27. #27
    On April 4th, 2009 at 1:26 pm, rightisright said:

    hitcharide, In total agreement with your posting and let me wish you the best of luck in your race, we need people to speak the truth and knock off the party bull$hit as you say.

  28. #28
    On April 4th, 2009 at 1:53 pm, love2rumba said:

    It is a form of madness for democrats to actually believe that they truly represent those without their wealth.

  29. #29
    On April 4th, 2009 at 2:24 pm, Flyoverman said:

    On April 4th, 2009 at 11:43 am, sonofdy said:

    So democrat corruption is ok but republican coruption is bad???

    “All animals are equal. Some are more equal than others.”

  30. #30
    On April 4th, 2009 at 3:43 pm, Wethal said:
  31. #31
    On April 4th, 2009 at 6:37 pm, rightisright said:

    I wouldn’t listen to that dirt bag Axelrod if he paid me $50,000, well, maybe, since I’m on disability and living under the poverty line.

  32. #32
    On April 4th, 2009 at 6:39 pm, rightisright said:

    the above would actually apply to any of the socialist pigs, called democraps.

  33. #33
    On April 4th, 2009 at 6:57 pm, curiozities said:

    No word yet on whether they paid taxes on their earnings or not.

  34. #34
    On April 4th, 2009 at 7:00 pm, curiozities said:

    On April 4th, 2009 at 11:04 am, JHSII said:

    Who was it that said that we would probably all be better off if we were governed by the first 100 names or so out of the phone book?

    It was the late, great William F. Buckley, jr., who said, “I’d rather entrust the government of the United States to the first 400 people listed in the Boston telephone directory than to the faculty of Harvard University.”

  35. #35
    On April 4th, 2009 at 7:20 pm, Joy said:

    yohannbiimu said:

    I am outraged that THE PRESIDENT OF THE UNITED STATES has an Aunt of foreign abstraction who is FORCED to live as some sort of refugee, using PUBLIC ASSISTANCE.

    It is an outrage, and what’s more outrageous is that I haven’t seen a leftist yet who will ADMIT this is an outrage. How any thinking person can excuse this, or that his brother lives in a hut in Kenya, is beyond outrageous.

    And this PRETENDER has the AUDACITY to lecture others about sacrifice and taking care of the poor is mindnumbing.

  36. #36
    On April 5th, 2009 at 12:52 am, tbear44 said:

    How much does Axelrod’s Obamaprompter make?

  37. #37
    On April 5th, 2009 at 2:02 am, AlohaGuy said:

    How much does Axelrod’s Obamaprompter make?

    It was probably made in China, spits out what they write, and sends live video back to Beijing to the Forbidden Giggle Room.

  38. #38
    On April 5th, 2009 at 11:28 am, Rorschach said:
  39. #39
    On April 5th, 2009 at 11:45 am, wayiwalk said:

    All this is no surprise.

    Back when the issue of reforming the power of trial lawyers was a hot issue, I considered the trial lawyers the modern day equivalent of the last century’s robber barons.

    Which of course, made the democrats the part of the modern day robber barons.

    Nice to have the media complicit in covering that aspect up.

  40. #40
    On April 6th, 2009 at 2:09 pm, Khyris said:

    Hmmm… sounds like those “excessive” salaries we’ve been hearing so much about lately.

  41. #41
    On April 6th, 2009 at 3:36 pm, Wildcatter1980 said:

    And, to think, none of what these flunkies who received 6 or 7 figure incomes produced a single widget. How many folks in this country perform work for well less than $100K in salaries or wages who either directly or indirectly provide a product or service that any of us can buy at a fair price and have that product provide a utility far beyond the price paid for it?

    Methinks the people whose large incomes need to be the focus of “redistribution” efforts should be these overpaid charlatans who want to prevent we “little folks” from becoming not so little if not big folks ourselves.

You must be logged in to post a comment.


‘Occupy CPAC’ Protester Paid $60 a Day

February 10, 2012 02:32 PM by Doug Powers

44 Comments

Living wage?

Super PAC-men: Obama’s bundlers gone wild!

February 8, 2012 12:12 PM by Michelle Malkin

66 Comments

The haute couture money-grubber

February 7, 2012 10:56 AM by Michelle Malkin

118 Comments

Biden Prediction: Dems Will Retake House

January 27, 2012 07:31 PM by Doug Powers

106 Comments

Joestradamus

State of the Union? 1,000 Days without a Budget

January 24, 2012 09:40 AM by Michelle Malkin

287 Comments

The Land of Obama Make-Believe

January 20, 2012 07:32 AM by Michelle Malkin

253 Comments

The Bank of (Democratic Party) America

January 18, 2012 09:12 AM by Michelle Malkin

84 Comments


Categories: Democrats

Babalu Blog

» Greece is Burning

Betsys Page

» Cruising the Web
Follow me on Twitter Follow me on Facebook