- Marionville mayor ‘kind of agreed’ with Kansas City shooter’s views
- Rev. Al Sharpton’s Easter message: Politically ‘crucified’ Obama has risen again
- Supreme Court to weigh challenge to ban on campaign lies
- UNICEF launches ‘Mr. Poo’ mascot in India to curb public defecation
- Teen taking selfie by train: ‘Wow, that guy just kicked me in the head’
- Goodbye, Afghanistan — hello, Africa: Air Force to shift as U.S. exits Middle East
- Iran mulls ban on vasectomies, decrease on abortions to bolster population
- CNN op-ed claims right-wingers ‘more deadly than jihadists’
- Classes resume at high school rocked by stabbings
- ABC News accuses Center for Public Integrity of stealing Pulitzer-winning work
Obama says Lew has his trust to head Treasury
Number-cruncher to leave position as chief of staff
President Obama officially nominated White House Chief of Staff Jack Lew on Thursday to replace departing Treasury Secretary Timothy F. Geithner, calling his key aide a man of great integrity who has his “complete trust.”
Even though Mr. Lew’s move from running the White House to Treasury was long expected, Mr. Obama called the moment “bittersweet” because he was losing his guidance of day-to-day presidential operations.
“I trust his judgment; I value his friendship; I know very few people with greater integrity,” he said during a ceremony in the White House East Room.
Mr. Lew is a longtime Washington insider who served as director of the Office of Management and Budget for both Mr. Obama and President Clinton and also worked for then-House Speaker Thomas P. “Tip” O’Neill Jr. early in his career.
Mr. Geithner is returning to the private sector after serving four tumultuous years at the Treasury Department.
Known for his swift number-crunching and remaining calm under fire, Mr. Lew has supporters on both sides of the aisle.
But at least one prominent voice on the left said he would oppose Mr. Lew’s nomination because of his ties to Wall Street.
Sen. Bernie Sanders, Vermont independent and a self-described socialist who caucuses with the Democrats, said he was “extremely concerned” that many of the president’s advisers are too close to Wall Street.
At Citigroup, Mr. Lew was part of the senior internal management team, serving as managing director and chief operating officer of Citi Global Wealth Management and then as managing director and COO of Citi Alternative Investments.
“In my view, we need a treasury secretary who is prepared to stand up to corporate American and their powerful lobbyists and fight for policies that protect the working families in our country,” Mr. Sanders said Thursday. “I do not believe Mr. Lew is that person.”
The Lew nomination also is drawing opposition from some Republicans. Sen. Jeff Sessions of Alabama, ranking Republican on the Senate Budget Committee, said he intends to oppose the nomination because he said Mr. Lew misled Congress about administration plans to reduce the national debt and so “must never be secretary of treasury.”
Two years ago, while serving as Mr. Obama’s budget director, Mr. Lew told Congress that the president’s budget would not add to the national debt. The government has run up trillion-dollar deficits each of the past four years.
But the Financial Services Forum, a trade association for CEOs of the largest banks, credit companies, insurance companies and organizations that manage money, praised Mr. Lew’s experience in both the public and private sectors.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Susan Crabtree is an award-winning investigative reporter with more than 15 years of reporting experience in Washington, D.C. Her reporting about bribery, corruption and conflict-of-interest issues on Capitol Hill has led to several FBI and ethics investigations, as well as consequences for members within their caucuses and at the ballot box. Susan can be reached at firstname.lastname@example.org.
- GOP senators want IG probe of Sebelius' 'Obamacare' fundraising
- Teaming up with Christie, Obama says Jersey shore 'back in business'
- No Moore: Obama flubs name of Oklahoma city devastated by tornado, calls it 'Monroe'
- Obama to Okla. tornado victims: 'We have got your back'
- Amid his own challenges, Obama calls on Navy grads to hold themselves accountable
Latest Blog Entries
TWT Video Picks
By returning to Christian roots, the nation can achieve greatness once again
- 'Culture of intimidation' seen in Nevada ranch standoff
- GOP writes legislation to deny Attorney General Eric Holder his salary
- Nevada Bundy ranch standoff could leave dirt on Harry Reid reputation
- U.S. Navy to turn seawater into jet fuel
- Rand and Ron Paul ride to the rescue for Bundy in Nevada standoff with feds
- UNICEF launches 'Mr. Poo' mascot in India to curb public defecation
- Atheists rush to stage Easter display: 'Jesus Christ is a myth'
- Fuel-filled wings, ability to swarm: Pentagon offers glimpse at future of drone fleet
- Secret U.S. assessments show Afghanistan not ready to govern on own
- CARSON: Recovering Tocqueville's vision of American exceptionalism
Celebrity deaths in 2014
Top 10 handguns in the U.S.