Re: my email

I don't think my formulation did that. I was just trying to avoid you saying that JP Morgan and Citi should have identical rules. ________________________________ I'm ok with being characterized as an off the reservation, crazy pitch fork populist, but we should be very careful to not seem to be giving citi a pass on the guide posts we are applying to others. ________________________________ Crossed wires with stephanie but we're consistent. One important point is the reporter is turning Podesta's statement into a more rigid "doctrine" than what he was actually expressing. ________________________________ I know the PE has said repeatedly that companies receiving assistance must be accountable for that money, but do we want to characterize Podesta's comments below as anything more than what he said, which was "just my personal opinion." Tommy: Thanks for the offer to help. Article below. Again, the question is about the issue of having "one rule" for accountability -- specifically on the exec comp issue. I wonder if the "one rule" doctrine is (a) just a musing, (b) potential policy or (c) official policy for the transition. Question arises in part because Treasury has so far released a sort of patchwork of very vaguely-worded policies re: limiting executive compensation for bailout recipients. They have different three sets of standards: For companies whose assets were purchased (do these exist?), companies that took capital injections (capital purchase program) and companies that are "sytstemically failing" (AIG, Citi etc.) They are also articulating different exec comp rules for Citi than they did for the other bailout recipient banks, though specifics are not yet available. Thanks in advance for any help you can provide. Best, Dan Wagner AP Business Writer (202) 641-9869 ¶ ¶ Citi should be held accountable: Obama aide Podesta ¶ Bloomberg / Washington November 29, 2008, 0:27 IST ¶ ¶ The US government should demand accountability and changes at Citigroup Inc, as well as from automakers, in exchange for any financial assistance, a top transition official for President-elect Barack Obama said. ¶ ¶ "It seems to me that the government ought to demand accountability," including on executive compensation, John Podesta said in an interview on Bloomberg Television<s "Political Capital with Al Hunt," scheduled to air on Friday. ¶ ¶ "If we<re going to have one rule, we ought to apply it to all of the financial institutions that we<re taking a look at," Podesta said. "That<s my personal opinion." ¶ ¶ In the case of Detroit, lawmakers are demanding from auto industry executives a concrete plan on going forward while others are asking for management changes. The government hasn<t made those demands of Citigroup. ¶ ¶ Podesta, a former chief of staff in the Clinton White House, also said Obama would complete "virtually the whole Cabinet" by Christmas, and the new president<s team will reach beyond the Democratic Party. ¶ ¶ There will be "multiple Republicans" in the administration," Podesta said. "You<ll see them spread throughout the administration." ¶ ¶ Obama, who is further along in making key appointments than any of his recent predecessors were at this point in the transition period, is expected to announce his national security team next week. ¶ ¶ It will be led by Senator Hillary Clinton, his erstwhile rival for the Democratic presidential nomination, as secretary of state and Defense Secretary Robert Gates. ¶ ¶ Podesta<s comments about seeking reforms from Citigroup echoed those made this week by Senate Banking Committee Chairman Christopher Dodd, who said Washington should have struck a better deal in its rescue of Citigroup, including management changes and a greater return for taxpayers. ¶ ¶ ________________________________ The information contained in this communication is intended for the use of the designated recipients named above. If the reader of this communication is not the intended recipient, you are hereby notified that you have received this communication in error, and that any review, dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify The Associated Press immediately by telephone at +1-212-621-1898 and delete this e-mail. Thank you. [IP_US_DISC] msk dccc60c6d2c3a6438f0cf467d9a4938