February 28, 2013 --

Jack Lew, the new Secretary of the Treasury, drew some raised eyebrows for his succesful rise from NYU official to Citigroup executive.

As related in an editorial in The Wall Street Journal, February 25, Mr. Lew received a severance award when he voluntarily left NYU (where his pay was greater than the NYU president's salary) for Citigroup, and then had a provision in his Citigroup contract calling for a bonus should he leave Citi for a top federal job.

LPR expects that when Mr. Lew leaves his Treasury post, he will land as head of Goldman Sachs -- something like that.