Jack Lew will replace Bill Daley as White House chief of staff, WSJ is reporting.
Update:
Daley gave his letter of resignation to the president in a private meeting in the Oval Office last week, reports LaTi.
Lew is a Clinton operative, which adds credence to the speculation that Hillary may take the vice-presidential position in Obama's attempt to hold the White House.
Lew served as budget director under President Clinton, and as deputy director of the Department of State under Hillary Rodham Clinton before taking the budget job in the Obama administration.
Update 2: Lew also served as a top executive at Citigroup. He made millions at Citi, including a bonus of nearly $950,000 in 2009 just a few months after the bank received billions of dollars in a taxpayer rescue, according to disclosure forms filed with the federal government.
Bottom line: A total insider operative for the elitists.
Lew Rockwell? Yay! What? Oh.
ReplyDeleteSo Hilary sees a smooth transition of power from the (pontential) lame duck Obama outfit to her mob, I guess.
ReplyDeleteHe was in the alt. investments department..essentially a hedge fund mngr. Here's a HuffPo article. Despite winning on subprime bets by allocating to Paulson, he overall lost money in 2008:
ReplyDeletehttp://www.huffingtonpost.com/2010/07/14/jack-lew-obamas-omb-pick_n_645093.html
Citi paid Lew $1.1 million for his year at Alternative Investments, according to an ethics disclosure report filed in January 2009. He was also eligible for an undisclosed bonus. Lew did not immediately return a call for comment.
His unit, though, lost as much as billions of dollars in 2008 as its bets turned sour. In the first quarter of 2008 alone the unit lost $509 million; the company stopped publicly disclosing the unit's individual numbers soon thereafter, but the part of the company that absorbed Alternative Investments lost $20.1 billion in 2008, according to the bank's filings with the Securities and Exchange Commission.
Citigroup, the nation's third-largest bank, received $45 billion in TARP bailout funds that year. The firm also has issued $64.6 billion in taxpayer-backed debt through a crisis-era Federal Deposit Insurance Corporation program, according to its latest quarterly filing with the SEC. And it stands to gain a few billion dollars more by modifying home mortgages under the administration's foreclosure-prevention plan, Treasury Department figures show.
Also, you can throw in another $100 billion lent by the Fed to Citi during that time, as Bloomberg has found..
ReplyDeletehttp://bit.ly/Bloomberg-Fed-Data
For a minute there I thought you meant Rockwell.
ReplyDeleteWas almost happy about something that happened in government.
LOL! My first thought when I saw the headline was "Lew Rockwell? Is Dr. Paul announcing appointments already?" ;-D
ReplyDeleteOh well. I can't say that I'm surprised that Obama would pick yet another bankster elitist. Personally, I don't think having Hillary on the ticket will help Obama's chances if he has to run against Dr. Paul.
When the President continues to surround himself with toads, people will begin to grasp that he too is up to his ears in the swamp...
ReplyDeleteIf Hillary Clinton is the VP, they certainly will be a formidable pair. Only sexists and racists will vote against the Democratic Party.
ReplyDelete