President Obama's new chief of staff, William M. Daley, was paid "$8.7 million in 2010 and the first week of 2011" for his work at TARP recipient JPMorgan Chase, the New York Times reports. The Times says the report was "released Friday by the White House." Pretty classic for the White House to put this out on the Friday before a long holiday weekend. It's tempting to make some kind of joke here to the effect that he makes almost as much as the public employees in Wisconsin, but I will resist the temptation.
If Mr. Daley was worth that much to JPMorgan Chase in 2010 and 2011 as President Clinton's former commerce secretary, imagine how much more he could be worth to JPMorgan Chase in 2014 as President Obama's former chief of staff if Mr. Obama wins re-election.