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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 paid…

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