The hits just keep on comin'..........ah what the hell, he don't have to pay taxes anyway.
Newly minted Treasury Secretary Timothy Geithner’s finances got a recent boost, thanks to a plump $435,000 severance payment from his old employer – the Federal Reserve Bank of New York.
In addition, Geithner last year earned $411,000 as president of the New York Fed and got another $50,000 to $100,000 for unused vacation and comp time, according to a mandatory financial disclosure statement released by the Office of Government Ethics.
News of his nearly half-million dollar severance payment comes as Geithner embarks on helping President Barack Obama sell the $825 billion stimulus package, designed to help struggling Americans. Geithner came under fire this month from Republicans after he admitted improperly filling out his income taxes and making $42,000 in delinquent payments.
White House aides did not respond to questions about Geithner’s compensation from the bank, but Fed officials told the Associated Press that the severance payment was from a retirement fund.