WASHINGTON (CNN) - Attorney general nominee Eric Holder is leaving a lucrative job as a high-powered Washington lawyer to take a modest government salary as the nation's top law enforcement official - but he won't have to pinch pennies.
According to documents released Monday by a Senate panel, Holder has accumulated assets worth more than $5.7 million dollars. The documents made public by the Senate Judiciary Committee show that if Holder is confirmed, he will give up an annual salary of more than $2 million dollars to accept the government post which pays a comparatively paltry $186,600.
The information Holder provided for his confirmation hearings shows he received $2,154,364 as a partner in the prestigious Washington firm Covington and Burling this year. Next year he will receive even more, even though he will no longer be working there.
"Upon my separation from the firm, and prior to assuming the duties of attorney general, I will receive repayment of my partner capital account ($632,767), deferred compensation from the firm's prior fiscal year ($680,820), a pro-rata share of partner compensation for work I performed in the current fiscal year ($484,073) and a separation payment to be paid prior to or immediately following my separation ($1,344,050)," Holder wrote.
Committee Chairman Sen. Patrick Leahy, D-Vermont, announced Monday the confirmation hearing tentatively scheduled for January 7 has been delayed until January 15 to accommodate Republican requests.
Leahy complained that Republicans are delaying a process that may prevent Holder from being in place at the Justice Department when President-elect Barack Obama is sworn in on January 20.
Democrats control the Senate and are expected to approve the nomination, but some Republicans have raised concerns. In particular, conservative lawmakers say they intend to examine Holder's controversial role in approving over the objections of federal prosecutors a pardon of fugitive Marc Rich in Bill Clinton's final hours as president.
IMHO Obama and the rest of his Cabinet should follow his example and forgo his salary. They all have significant income elsewhere, and I'm sure BHO won't miss $400,000 a year.
For those of you crying that this is NOT change...shouldn't wait to let the man take office and see what he and his picks can do before you start whining?? The only NOT change I see here are the right wing cry babies and Obama-haters that are going to be critics of him no matter what he does!
This should not be about money, but judgement and brains. After watching that miserable excuse for an A.G. in Gone-zales; it would be nice to have someone who reminds me of Bobby Kennedy, and not Inspecter Clueseau. How about a Dep`t. of Justice, instead of Dep`t. of Persecution,wiretapping, and God knows what else under Bush/Cheney.
the nobama admin. is goin to come crashing down
ONLY ONE FATAL FLAW IN THE INTEGRITY OF ALL OF THEM. THEY ARE STILL POLITICIANS. DOESNT MATTER WE SHALL OVERCOME THIS PRESIDENT TOO. LIKE WILSON SAID "BETTER TO LOSE IN A CAUSE THAT WILL EVENTUALLY WIN THAN WIN IN A CAUSE THAT WILL EVENTUALLY LOSE." FITS, YES NO?
Williy Brown, your a complete idiot, and should never be allowed outside of your village unsupervised. I'm willing to bet on welfare with a 6th grade education. What year did you grossed 2.5 million? lolololololol
WOULD YOU NOT ENCOURAGE DAFFY FRANKS ANYMORE THAN NECESSARY!!!
THANX FUD AND BUGGS
For christ sake, someone has burned down Gov. Palin church and this is all you people can talk about? Who really cares about the Attorney General.
Larry, you idiot, he has not taken office yet. Wait until Jan20 for CHANGE.
Hey Willy Brown-
Do something shocking in one of your posts–Give us a coherent fact.
i think most ppl would rather have fame with a little less money than more money with less fame. just saying, considering he already is fairly wealthy. if he was leaving his lawyer position to do something like start a charity, or go to medical school or something, yeah, then this is more noteworthy
redbarchetta88 December 15th, 2008 10:27 pm ET
Are you giving up your salary? I'm sure there are people worse off than you are.
I am SO tired of hearing "this isn't change". The change people are looking for is a change from the last 8 years and the devastation to our economy, our liberities and our international standing.
Change to me is NOT hring a newbie for the sake of having a new face. We have too much going wrong in the country at the moment that needs to be addressed to hire a group of people who need OJT.
Change will be hiring intelligent people with respect for the Bill of Rights who will be able to hit the ground running when Obama is sworn in.
take the $2 million and help pay mortgages those who need help. All CEO'S should help do this.
Are Republicans really going to make Eric Holder's small involvement with the Rich pardon a delay? Sounds a bit crazy to me when our own president and vice president of the last 8 years have committed crimes against humanity repeatedly and gee – they are republicans. Our soon to be ex-president and ex-vice president should be charged with thousands of murders and face trial. I understand why the reporter through the shoe at Bush – my god – Iraq, yes, because of the USA's war got rid of Saddam – one tyrant and ended up getting ours – both Bush and Cheney. Come on Republicans get off your high horses – Obama is a god send and has been making fabulous choices for his cabinet. Eric Holder is a decent man with a little question about is participation in a Clinton DECISION. WHat happened to bipartisianship – how about starting now REPUBLICANS. I think Obama is attempting too if you would let him. Watch who Bush pardons – himself and VIce President Cheney – that would be unbelievable – amongst others like Karl Rove and Scooter Libby – now that would be something the Democrats would surely have issue with and hopefully most of America too. Please Eric Holder – get him confirmed already. Wake up Republicans!!!
Gee.... He must be in touch with the average lad-off american workers - Let's explort all are jobs! We should make anything anymore.... lets all of us collect foodstamps this Christmas....
Obama sinking fast - this is starting to smell - insiders wanted !!! The HELL with change we want more insider to run thing still.... KEEP THE WAR GOING - YOU SEE A DRAFT SOON.... FILL THE VA Hospitals for years to come.
Wow, he must be truly devoted to the cause or to Pres-elect Obama. It's actually good to see that he places Gov't service above money.
How many of us will give up a multimillion dollar yearly salary to work for the government at a salary that is less than 1/20th the amount?
ask someone who's not yet financially free...pretty sure you'll get told fame can take a long walk off a short pier