Magazine
Latest Issue

Politicians with the midas touch

There is now nothing odd about former politicians making vast amounts of money. How did this happen?

By Tom Streithorst  

President Obama chatting with Jack Lew, his chief of staff and, right, former treasury secretary Tim Geithner in January (Image: Pete Souza)

Less than five years after bailing out the investment banks and only six months after leaving the US Treasury Department, Tim Geithner is earning hundreds of thousands of dollars giving speeches to business groups.

Three speeches have already earned him about $400,000, twice his base pay as Treasury secretary. This is not illegal, nor is it uncommon. In Washington it is called “punching your ticket”: a few years as a relatively low…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with our newsletter, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect