Many reasons to object to Jack Lew nomination

info@islandpacket.comJanuary 23, 2013 

President Barack Obama has nominated Jacob "Jack" Lew to be treasury secretary.

Oddly enough, Republicans see him as not being pro-business enough. Lew was the architect of deregulation in the Clinton administration, where he served as director of the Office of Management and Budget, a post he filled in the Obama administration as well.

He was instrumental in scrapping the protections of the Glass-Steagall Act and blocked regulating credit default swaps, which were at the heart of the financial meltdown in 2008. He demonstrated his knack for disaster by losing billions for Citibank, heading their hedge find unit. He was paid a $1.1 million bonus for bringing Citibank to its knees. Why would Obama want to hire such a loser?

Sergei Goregliad


The Island Packet is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service