AG Nominee Holder Would Get $3M Partner Payout from Covington

Public sector employment would mean a big cut in regular pay for attorney general nominee Eric Holder, but he’ll have a big payout from his law firm to cushion the blow.

Covington & Burling would pay Holder $3.14 million as partner capital payout, separation payments and deferred compensation, Politico reports. The blog cites a questionnaire submitted by Holder detailing his finances.

Holder has a net worth of $5.7 million and earned $2.1 million last year in partner compensation.

Legal Times says Holder’s partner earnings last year were much higher than the firm's average of $1.175 million in profits per partner.

One other bit of trivia on Holder’s disclosure form: His wife, a medical doctor, delivered the daughter of Obama’s chief of staff, Rahm Emanuel.