11 February 2013

Meet the New Boss, Same as the Old Boss………

It appears that we will get fooled again
Jack Lew, who has been nominated by Barack Obama as Timothy Geithner's replacement as Secretary of the Treasury.

Well, if you think back to Geithner's confirmation hearings, it turned out that he simply did not pay his Social Security taxes for a few years while working at the IMF.

Well Jack Lew does one better, he squirreled away funds in the Cayman Islands:
Jack Lew, President Barack Obama’s Treasury Secretary nominee, previously held up to $100,000 in investments in an offshore hedge fund located in the Cayman Islands, according to financial disclosure forms.

Lew’s financial disclosure forms, filed in 2009 and 2011, showed that Lew had invested between $50,000 and $100,000 in a fund called Citigroup Venture Capital International Growth Partnership (Employee) II, L.P. -- the very type of fund President Obama has repeatedly criticized.

The fund is an international venture capital fund for employees of Citigroup. According to his official White House biography, Lew served as managing director and chief operating officer of Citi Global Wealth Management and then Citi Alternative Investments (CAI) from 2006 to 2008.
Yeah, he is so not going to be the guy who cleans up Wall Street

H/t AmericaBlog.


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