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

[CuteOldGuy]

Another rabid Keynesian. Think he's on your side? Think again. The Big Banks retain control.

From the article:

Actually to be fair there are different in many ways. Geithner is from Goldman Sachs. Lew is from Citibank.

Geitner is from Brooklyn. Lew is from Queens. Geithner cheated on his taxes. Lew received a $900,000 bonus from Citibank entirely composed of taxpayer funded bailout money.

But in one very important aspect they are the same. They are both deeply tied into the Wall Street mega-bank complex. Of course when was the last time this wasn’t the case for a Treasury Secretary?

Regardless both Geithner and Lew are excellent examples of how to play the crony capitalist game at the highest level. Stints in the private sector offset by stints in high level public sector jobs, then a cash-in when upon returning to the private sector. Rinse and repeat. Take note budding cronies this is how one does it.

(From the Washington Post)

“Jack Lew is the guy you’d want there for upcoming fiscal deals, but it’s also very important to have folks on the team who will push the Keynesian, or jobs, imperative from the inside, even if that means a temporarily larger budget deficit,” said Jared Bernstein, a former White House economic adviser.

http://www.againstcronycapitalism.or...treasury-boss/

[i'va biggen]

And what did you expect?

[WTF]

COG overlooks 90% of GOP shenanigans and 0% of Obama's. He thinks that 10% makes him a libertarian and fair minded.

I have proven in another thread where it just makes him another mind control wonk.

The funny thing our friends on the right do get is that Lew handed Bush II a Federal Budget that was projected to be 5 Trillion dollars in the black. Bush promptly tax cut that into 5 Trillion into the red. Our friends on the right never mention that fact. Wonder why?

[Texas Contrarian]

Yes, I agree that the Lew appointment means more of the same...but it's literally a "loopy" appointment as well!

Check this from New York (the magazine).

http://nymag.com/daily/intelligencer...lls.html?imw=Y

This is what the signature field area of newly issued currency might look like under a Lew Department of the Treasury:

[Texas Contrarian]

Interesting article:

http://nationaljournal.com/whitehous...treet-20130110

[steamyromance]

I doubt many on here even read the article in the Nat. Journal BUT it should be noted that Lew is a Robert Rubin disciple just like Mr. Gietner and under Clinton they all worked their collective asses off the have the Glass-Steagall act overturned which led to the current financial situation the World is in. Not to mention the trillions of $ Americans lost because of the crash. Its amazing to me how this isnt shouted from the highest hills. Oh well what are gonna do . The libs will all jump on here and call me an asshole etc. but the truth is the truth. Here is an excerpt from the article that CM had the link for.


Robert Rubin, was once the most admired secretary since Alexander Hamilton. That’s what Bill Clinton called him upon Rubin’s departure in 1999. Rubin quickly went to work at Citi for Weill, who wrote frankly in his memoirs that he had hired Rubin to secure a “highly visible public endorsement” for the repeal of Glass-Steagall later that year. Back then this approach to Wall Street was considered enlightened. It was the “globalization” era of the ’90s, when the bond market became known as the benign taskmaster of Washington (recall James Carville’s endlessly quoted line about wanting to “come back as the bond market” in his next life).