Wall Street Journal

CIA Nominee Panetta Received $700,000 in Fees
The Wall Street Journal

The White House’s nominee for Director of the Central Intelligence Agency, Leon Panetta, has earned more than $700,000 in speaking and consulting fees since the beginning of 2008, with some of the payments coming from troubled financial firms and from a firm that invests in contractors for federal national security agencies.

Mr. Panetta’s disclosure form illustrates how retired politicians commonly make money giving speeches and consulting for prominent companies with significant interests before the government. That was one element in the controversy over the cabinet nomination of former Senate Majority Leader Tom Daschle, who withdrew Tuesday.

Mr. Panetta received $56,000 from Merrill Lynch & Co. for two speeches and $28,000 for a speech for Wachovia Corp. Mr. Panetta also received a $28,000 honorarium from the Carlyle Group, a private-equity firm that owns companies doing business with national-security agencies of the U.S. government. Carlyle holds a majority stake in the government consulting arm of Booz Allen Hamilton Inc., which works for the CIA and other agencies.