In case you are wondering who Jack Lew is, he is an Obama Progressive.
In December the Free Beacon reported about Lew’s history of controversy and questionable practices as managing director and chief operating officer of Citigroup Alternative Investments. Citigroup made millions off the housing market but Lew lost $509 million in the first quarter of 2008. He received a payout of $1.1 million after he lost this money and Citigroup received $45 billion in TARP bailout funds.
His financial expertise is questionable. During his Senate confirmation hearings he was asked about deregulation and said he lacked financial expertise. [freebeacon]
He does not have expertise in congressional procedures though he served with Tip O’Neill and with Bill Clinton. He told CNN “You can’t pass a budget in the Senate of the United States without 60 votes, and you can’t get 60 votes without bipartisan support.” He told NBC “You know, one of the things about the United States Senate that I think the American people have realized is that it takes 60 not 50 votes to pass something,” he said. [freebeacon]
Scary, huh? We also know he can’t sign his signature like a sane person.
Bloomberg reports that Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin, said this about Lew:
“He’s very divisive. He doesn’t play well with Republicans,” Jacobsen said. That may lower the chances of a comprehensive bipartisan resolution of the debt ceiling, the pending automatic spending cuts and an agreement to keep funding government operations.
“Lew might end up pushing for them to be dealt with one- on-one in hand-to-hand combat,” he said. “I think Obama will wind up winning those. It’s just you’ll wind up having three fights instead of one big resolution.”
Senator Jeff Sessions (R-Ala), said Lew has made “outrageous and false” statements to Congress that Obama’s budget wouldn’t add to the national debt.
“We need a secretary of Treasury that the American people, the Congress, and the world will know is up to the task of getting America on the path to prosperity not the path to decline,” Sessions said. “Jack Lew is not that man.”
Lew served only a short stint on Wall Street, and he has no experience as a regulator. Dodd-Frank has given the Treasury Secretary a much larger regulatory role than ever before and we all know Obama loves regulations. Lew will march to Obama’s drum and Wall Street doesn’t trust him yet, though they hope he will be conciliatory.
Lew has Obama’s complete trust because he agrees with him on the issues. On the other hand, he will tell Obama whatever he wants to hear. Obama never hears divergent opinions because he surrounds himself with “yes men.”
Lew is a Progressive who handled the fiscal cliff by avoiding the sequester issue and leaving Medicare, Medicaid, and Social Security intact.
He wants to tax the rich and make certain that they “pay their fair share.” [He helped draft the American Jobs Act.]
Think Progress bragged that Lew is known as a “sharp budget negotiator, and he is largely credited with crafting the deal that averted a government shutdown in the spring of 2011. That deal hoodwinked Republicans into thinking they had brokered $100 billion in spending cuts, but Lew structured it so that most of the cuts were to money that wasn’t ever going to be spent anyway.”
[The left is proud of deceit and trickery. Republicans better wise up quickly and mine through these bills before they approve them. They are still trying to work under the premise that they have a gentleman’s agreement, but Obama’s people are using guerilla warfare tactics]
Lew is a tax and spend, welfare state guy.