Obama Said Close to Choosing Lew for Treasury Secretary

[Purveyor]

Source: Bloomberg

By Hans Nichols - Jan 8, 2013
President Barack Obama may choose White House Chief of Staff Jack Lew to replace Treasury Secretary Timothy F. Geithner as soon as this week, according to two people familiar with the matter.

The selection of Lew would trigger a White House shuffle for Obama’s second term as he replaces his chief of staff and moves senior aides into new roles, said the people, who requested anonymity to discuss personnel matters.

While Obama hasn’t made a final decision to pick Lew, the president’s staff has been instructed to prepare for his nomination, said one of the people.

Obama has several other cabinet and cabinet-rank jobs to fill, including commerce secretary, Environmental Protection Agency administrator, U.S. trade representative and director of the Office of Management and Budget.

The next Treasury secretary will play a leading role in working with Congress to raise the government’s $16.4 trillion debt ceiling. The U.S. reached the statutory limit on Dec. 31, and the Treasury Department began using extraordinary measures to finance the government. It will exhaust that avenue as early as mid-February, the Congressional Budget Office says.

Read more: http://www.bloomberg.com/news/2013-01-07/obama-said-close-to-choosing-lew-for-treasury-following-geithner.html

[adieu]

1. Really want

Obama to choose someone like Lloyd Blankfein or Jamie Dimon and have them go through a miserably grilling process by the GOP. It'll be getting two for the price of one: having the GOP burn up unnecessary whining and revealing all the dirty laundry from those banksters. Then, kick their sorry asses out to the street before getting someone else during a recess appointment.

[dotymed]

2. IDK anything about Lew.

I suspect he is another "ex" Lehman exec. I will check but I thought it would be interesting to guess first..anyway.... Geithner (IMO) should be in (a for profit of course) prison...

on edit- not Lehman brothers...citigroup..".In June 2006, Lew was named chief operating officer of Citigroup's Alternative Investments unit, a proprietary trading group. The unit he oversaw invested in a hedge fund "that bet on the housing market to collapse"

In college, his adviser was Paul Wellstone, I hope that he paid attention. Wellstone was a great man.
Personally, I'd prefer Bernie Sanders over Jack Lew.

[reteachinwi]

3. Wellstone was college advisor

Early life, education, and early career

Lew was born in New York City. He attended New York City public schools, graduating from Forest Hills High School.[4] His father was a lawyer and rare-book dealer who came to the United States from Poland as a child.[5] Lew attended Carleton College in Minnesota where his faculty adviser was Paul Wellstone, who eventually represented Minnesota in the U.S. Senate.[6] He graduated from Harvard College in 1978 and the Georgetown University Law Center in 1983.[7]
He worked as an aide to Rep. Joe Moakley (D-Mass.) from 1974 to 1975.[8] He then was a senior policy adviser to House Speaker Tip O'Neill.[9] Under O'Neill he served at the House Democratic Steering and Policy Committee as Assistant Director and then Executive Director, and was responsible for work on domestic and economic issues including Social Security, Medicare, budget, tax, trade, appropriations, and energy issues.[10]
Lew practiced as an attorney for five years as a partner at Van Ness, Feldman and Curtis.[11] His practice dealt primarily with electric power generation. He has also worked as Executive Director of the Center for Middle East Research, Issues Director for the Democratic National Committee's Campaign 88, and Deputy Director of the Office of Program Analysis in the city of Boston's Office of Management and Budget.[12][13]
http://en.wikipedia.org/wiki/Jacob_Lew

[TheDoctor13]

4. WOW

SOOOOOOOOOOOOOOOOOO STUPID

[Bradical79]

5. Why?

[plethoro]

6. Disaster beyond belief.........nft

ddddddd

[valerief]

7. Yes, your remark is soooooooo stupid without any explanation. Please, explain. nt

[TwilightGardener]

8. I'll wait and see what the analysis is on this guy, because I know less than

nothing about economic and treasury policy.

[madrchsod]

9. he`s better than timmy

all in all he seems to be an acceptable candidate for the job.

[democrattotheend]

10. Good choice, IMO

From what I have read about him he is relatively progressive. I had read that he was being considered but the president had to decide if he needed him more at Treasury or in the White House. I guess he chose the former.