Tag Archives: citigroup

Treasury Fat Cat



A WSJ editorial says Treasury nominee Jack Lew, as chief operating officer of Citigroup’s Alternate Investments unit, oversaw investments designed to hide mortgage risk.

“The greatest irony is that given Mr. Lew’s crisis-era resumé, he bears a remarkable resemblance to the bankers who President Obama says created the financial crisis and deserve federal investigation. But apparently there’s an exception as long as your liberal intentions are noble and you’re a loyal Democrat. Then you can get rich at one of Wall Street’s biggest failures and end up running the entire financial system.”

Here’s a Washington Post business story about Lew’s time at Citigroup. And here’s a Forbes piece titled “Wall-Street-Bonus” Lew to replace Tax-Avoider” Geithner at Treasury

Penny Bluechips