Treasury Secretary Lew Says Too Big To Fail Should Be Over By Year’s End

By: Thursday July 18, 2013 5:55 am

Citigroup alumn and current U.S. Treasury Secretary Jack Lew has claimed that if the ever looming threat of banking institutions that are so big their failure would bring down the economy is not eliminated by year’s end further actions will be needed. Too Big To Fail institutions are even bigger now than they were during [...]

Politics and Slow Vetting Process Keep Government Understaffed

By: Friday May 3, 2013 5:58 am

The partisan gridlock in Washington combined with a slow moving vetting process has led to many of the key posts in the Obama Administration remaining vacant. Even as the administration asks for more power to police the internet and meddle in other country’s affairs abroad it lacks the staff to meet current responsibilities. As the [...]

Jack Lew Confirmed As Treasury Secretary

By: Thursday February 28, 2013 5:54 am

Despite a slew of damaging revelations Jack Lew has been confirmed by the Senate. With a 71-26 vote Lew received more Republican support than Chuck Hagel. On some level Lew’s easy confirmation is a testament to how much influence Wall Street has in Washington but it still is interesting to compare the two nominations and [...]

Jack Lew’s Citigroup Contract Included Incentive To Go Into Government

By: Monday February 25, 2013 6:00 am

There may not be anyone left in America that doesn’t know Wall Street sets the agenda in Washington, that the revolving door between finance capital and the so-called regulators of finance capital spins so fast the IAEA should demand inspections. And so we learn that President Obama’s Treasury Secretary nominee not only worked for the [...]

Lew Claims Too Big To Fail Problem Solved At Confirmation Hearing

By: Thursday February 14, 2013 7:06 am

Treasury Secretary nominee Jack Lew made a stunning and fantastic claim at his confirmation hearing, namely that the Too Big To Fail or systemic risk threat from the mega banks no longer existed. That the problem had been solved by the Dodd-Frank legislation. Seriously. You may not have heard this utterly amazing news. Neither has [...]

At Confirmation Hearing Lew Faces Questions Over Citigroup Bonuses, Tax Shelters

By: Wednesday February 13, 2013 10:52 am

Treasury Secretary nominee Jack Lew went before the Senate Finance Committee today for his confirmation hearing. The hearing was mostly deferential with Lew finding considerable agreement with the Republicans on the committee, particularly on trade and corporate tax policy, but Lew did face questions over his bonuses at Citigroup and tax shelters in the Cayman [...]

Cayman Islands Investment Becomes Obstacle For Treasury Secretary Nominee

By: Monday February 11, 2013 5:49 am

Jack Lew’s nomination for Treasury Secretary was already proving to be contentious but now questions are being raised on Lew’s personal financial activities. Lew reportedly made an offshore investment in the Cayman Islands that may have been an attempt to avoid taxes. Treasury secretary nominee Jack Lew will face questions at his confirmation hearing next [...]

British Might End Too Big To Fail Banking

By: Monday February 4, 2013 6:59 am

After a global financial crisis, an epic price fixing scandal, and embarrassing criminal conduct British regulators are considering ending Too Big To Fail Banking. British Finance Minister George Osborne has proposed legislation that if banks do not shield their riskier investment activities from day to day banking they will face restructuring. Britain is shaking up [...]

Lew Nomination Finds Opponents On Left And Right

By: Friday January 11, 2013 5:29 am

When President Obama announced Jack Lew’s nomination for Treasury Secretary he promised Lew would help bring people together, I doubt this is what he meant. From ABC News: Sen. Jeff Sessions, R-Ala., the ranking member on the Senate Budget Committee, declared today that Jack Lew must “never” become secretary of the Treasury. “To confirm Mr. Lew would [...]

Obama To Announce Jack Lew As Treasury Secretary Today

By: Thursday January 10, 2013 7:32 am

Jack Lew, veteran of Citigroup and current White House Chief of Staff, will be our next Treasury Secretary: President Obama will on Thursday afternoon announce his intent to nominate Jack Lew to serve as treasury secretary, the White House said. The pick, widely reported on Wednesday, will come at a 1:30 p.m. ceremony in the [...]

Tim Geithner’s Lead Negotiating Position on Fiscal Slope Should Cause Concern

By: Tuesday November 27, 2012 12:21 pm

Matt Yglesias makes the astute observation that Jack Lew will be the next Treasury Secretary, and I agree. However, his reasoning for this overlooks one key detail: Why? Well because the White House has decided that it wants the Treasury Secretary to be deeply involved with budget issues, and who better than a former OMB [...]

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