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Meet Jack Lew: Tim Geithner's Replacement

Tyler Durden's picture




 

Bloomberg is out after hours with news that was expected by many, but which was yet to be formalized, until now: namely that following today's flurry of contntious nomination by Obama, the latest and greatest is about to be unveiled - Jack Lew, Obama's current chief of staff, is likely days away from being announced as Tim Geithner's replacement as the new Treasury Secretary of the United States. In other words, Jack will be the point person whom the people who truly run the Treasury, the Treasury Borrowing Advisory Committee, chaired by JPM's Matt Zames (who just happens to also now run the notorious JPM Chief Investment Office which uses excess deposits to gamble - yes, you really can't make this up) and Goldman's Ashok Varadhan, global head of dollar-rate products and FX trading for North America (recently buying a $16 million pad at 15 CPW) will demand action from.

President Barack Obama is close to choosing White House Chief of Staff Jack Lew for Treasury secretary with an announcement as soon as this week, according to two people familiar with the matter.

 

Selecting Lew to replace Timothy F. Geithner would also require Obama to install a new chief of staff, the first step in a White House staff shuffle for his second term. Many of the president’s senior aides may be taking new roles as the president recasts his team, said the people, who requested anonymity to discuss personnel matters.

 

While Obama hasn’t made a final decision to pick Lew, his staff has been instructed to prepare for his nomination, said one of the people. Among the leading candidates to replace Lew as Obama’s chief of staff are Denis McDonough, currently a deputy national security adviser, and Ron Klain, who had served as Vice President Joe Biden’s chief of staff.

 

The next Treasury secretary will play a leading role in working with Congress to raise the government’s $16.4 trillion debt ceiling. The U.S. reached the statutory limit on Dec. 31, and the Treasury Department began using extraordinary measures to finance the government. It will exhaust that avenue as early as mid-February, the Congressional Budget Office says.

 

Geithner plans to leave the administration by the end of January even if the debt ceiling issue hasn’t been settled.

Somewhere, Larry Fink, and Jamie Dimon just exhaled (not to mention Mark Zandi whose stomp to the Great Barrier Reef brought him nothing but more seasonally adjusted disappointment).

So who is Jack Lew?

Here is an extended profile by Sam Stein, which however, will likely leave as many open questions as it answers:

White House Chief of Staff Jack Lew has been an unassuming figure during the Obama years. His media appearances are dull; his presentation is a bit bookworm-ish -- as if Harry Potter grew up and replaced his magic wand with Excel spreadsheets. When he speaks, the tone is usually measured and unemotional.

Behind the scenes, however, Lew has proven to be Obama's most skillful consigliere in matters of political trench warfare. Time and again during the debt ceiling debate, as Republicans attempted to get the administration to bend on top domestic priorities, it was Lew who proved to be a stick in the mud. Then serving as Office of Management and Budget Director, his insistence on playing out the practical impact of those cuts irritated Republicans to no end.

"What is infuriating to Republicans is that no one knows the federal government, the budget, these policies, better than Jack Lew," Kenneth Baer, a former senior adviser to Lew, told The Huffington Post. "Just as I imagine it would be frustrating to hit batting practice off Sandy Koufax."

Below are just a few excerpts from Woodward's book, "The Price of Politics":

[Brett] Loper [House Speaker John Boehner's policy director] found Lew obnoxious. The budget director was doing 75 percent of the talking, lecturing everyone not only about what Obama's policy was, but also why it was superior to the Republicans'.

[Barry] Jackson [Boehner's chief of staff] found Lew's tone disrespectful and dismissive.

Lew was incredulous when he considered the Republican proposal as a whole. The changes they were considering sounded simple. But the speaker's office was laying down general principles and looking to apply them to extremely complex programs. The devil was always in the details.

Boehner was sick of the White House meetings. It was still mostly the president lecturing, he reported to his senior staff. The other annoying factor was Jack Lew, who tried to explain why the Democrats' view of the world was right and the Republicans' wrong.

'Always trying to protect the sacred cows of the left,' Barry Jackson said of Lew, going through Medicare and Medicaid almost line by line while Boehner was just trying to reach some top-line agreement.

[Ohio Governor John] Kasich called [economic adviser Gene] Sperling at the White House, suggesting that he meet with Boehner. Lew, he said, did not know how to get to yes.

Sperling realized it was not a compliment that they wanted him. It essentially meant, 'Lew's being too tough. Can we get Sperling?'

Lew's wonky stubbornness during those negotiations didn't make him a progressive hero. In private caucus meetings, congressional Democrats laced into him for keeping them out of the loop and placing sacred cows on the negotiation table. But it did establish Lew as a true hub of power within the administration, and it showed that he, perhaps more than any other top adviser, had Obama's ear.

"I was in many meetings," Sperling recalled in an interview with The Huffington Post, "where Jack would say, clear as a bell, 'Mr. President, I think we can accept this. I’d have to go through all these little tiny cuts and stuff.' And the president would say, 'Jack ... you know my values. I trust your values.'"

For someone in a position of immense power, Lew remains a difficult figure to pin down philosophically. His youth was spent in New York City where -- as a June 2011 Politico profile noted -- he rallied against the Vietnam War and touted the import of immigration and public housing while serving as the editor of his high school newspaper. At Carleton College, his faculty adviser was Paul Wellstone, then a political scientist and later a famously liberal senator. Lew worked with Rep. Bella Abzug (D-N.Y.), another unapologetic progressive, before gravitating towards more moderate, establishment ground. He went to work with Rep. Joe Moakley (D-Mass.) and then took a job with House Speaker Tip O'Neill (D-Mass.).

Along the way, his view on D.C. politics changed. "[T]here’s a space in Washington that is not deeply populated, which is a bridge between the highly technical and the political,” he would tell Politico. "[I]f you could be fluent in both worlds and respected enough in both worlds, you could have an opportunity to be a translator and to make a difference."

Those who worked with him during that time period recall a type of pragmatism that seems antiquated today.

"It was a much different world, with a lot of collegiality amongst the Senate and House, the Republicans and Democratic staff people," said Lynn Sutcliffe, chief executive officer of EnergySolve, LLC, who worked with Lew while general counsel of the U.S. Senate Commerce Committee. "It was the art of the possible, not the art of promoting oneself or your boss' re-election."

Lew's work would prove influential in forging the famed Social Security deal made between O'Neill and Ronald Reagan in 1983. And when he departed the Hill in 1986 to join the lobbying shop that Sutcliffe once helped run, it was an important enough development to merit a small item in The New York Times.

Lew returned to government during the Clinton years, gradually rising to the ranks of OMB Director. He packed in long hours six days a week, taking off every Saturday to observe the Sabbath (he is an Orthodox Jew), honing the type of negotiating acumen that would prove useful for Obama. In talks with House Republicans, Lew would use fluency in economics -- despite not being an economist -- and a mastery of budget details to essentially out-will the president's priorities into legislation.

"What makes him a tough negotiator is not that he can’t get to yes or that he’s some kind of bulldog," Sperling said. "What makes him a tough negotiator is he knows his stuff so well ... He negotiates well by being a master of the detail."

In the Obama administration, Lew has been comfortable working largely in the shadows. His predecessor as OMB Director, Peter Orszag, matched his budget expertise with a sharp media savviness. His two predecessors as chief of staff, Rahm Emanuel and Bill Daley, were veritable celebrities.

Lew stepped into that position after the high-profile budget and debt ceiling fights of 2011 had passed. But aides and friends stress that he's been handed heavy tasks: not just managing a White House with half of its focus on the reelection campaign, but also restoring damaged relations with congressional Democrats.

"[Senate Majority Leader Harry] Reid didn't know much of Jack Lew until he started having to deal with him because he couldn’t trust Daley," said Jim Manley, Reid's former top spokesman. But once he did, a strong relationship was established. In a private meeting shortly after the debt ceiling deal was concluded, it was Lew who helped convince attendees that the final legislation wasn't such a bitter pill.

"Democrats soon became comfortable with it because he outlined the blow back or ping pong effect that would occur," Manley said. "He knew his facts cold. And he knows his stuff better than Boehner and just about anyone else on Capitol Hill."

Still, it's tough to tell what type of ideological imprint Lew has had on the administration. Aides credit him and Sperling with scoring major victories during the government shutdown debate in the spring of 2011 and the debt ceiling debate later that summer. House Republicans left the former thinking they'd secured $100 billion in savings, only to discover, upon closer inspection, that it was $32 billion. The $1 trillion sequester included in the debt ceiling deal included defense cuts, while leaving out top Democratic priorities like Medicaid (in one late-stage phone call with Republican aides, Lew screamed down attempts to make that program part of the trigger).

But in each instance, the broader debate was waged on Republican terms: additional stimulus spending took a backseat to deficit reduction. One Lew confidant said that Lew personally views himself as a progressive, despite having a reputation as a Clinton-era, new Democrat budget hawk. Sperling would only describe him as someone who straddles, if not outright ignores, the labels and lines.

"I’ve worked with Jack a large part of my adult life and I mean, he is what you see," he said. "He is very serious about deficit reduction but he operates from core progressive principles. In other words, he is not the type of person who either lets conservatives pressure him into backing down on basic issues of fairness, but on the other hand, he is never beholden to litmus tests from progressive groups that he does not believe are reasonable from a policy context."

 

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Mon, 01/07/2013 - 21:01 | 3131319 francis_sawyer
francis_sawyer's picture

Another Harvard Jew... Whocoodanode?

Mon, 01/07/2013 - 21:16 | 3131366 AlaricBalth
AlaricBalth's picture

Repost from 1/3/2013

Jacob "Jack" Lew. The consumate Washington bureaucrat. Did a stint at Citi as a payoff for all of his years of "public service".

Sometimes the whore you know is better than the whore you don't know.

Mon, 01/07/2013 - 21:18 | 3131370 Mae Kadoodie
Mae Kadoodie's picture

Taken from Wiki- In June 2006, Lew was named chief operating officer of Citigroup's Alternative Investments unit, a proprietary trading group. The unit he oversaw invested in a hedge fund "that bet on the housing market to collapse."

Mon, 01/07/2013 - 21:34 | 3131408 SafelyGraze
SafelyGraze's picture

am meeting jack Right Now

http://en.wikipedia.org/wiki/Jack_Lew

Mon, 01/07/2013 - 21:49 | 3131436 economics9698
economics9698's picture

Jack Jew, only qualification needed, can this bitch rip off the taxpayers?  Yes.  New treasury Secretary.

Mon, 01/07/2013 - 21:58 | 3131458 JR
JR's picture

Can you imagine putting an honest man in the Treasury now, the considerable danger that the bankers would have in a review of Tim Geithner’s books? It's also a danger to Obama to have a treasurer who has an opinion of himself as an honest man. This is unity among thieves.

Mon, 01/07/2013 - 22:05 | 3131475 Stackers
Stackers's picture

I hope he's not a better liar than Timmy or Benny, cause those two are a YouTube gold mine.

Mon, 01/07/2013 - 22:20 | 3131499 TwoShortPlanks
TwoShortPlanks's picture

How in the hell can you people tell the difference; these cunts all look the same to me.

Did I miss a fucking meeting or something!

Mon, 01/07/2013 - 22:29 | 3131523 Manthong
Manthong's picture

“serious about deficit reduction but he operates from core progressive principles”

Was that actually said with a straight face?

Mon, 01/07/2013 - 22:40 | 3131544 flacon
flacon's picture

How long until one of these guys gets POPPED IN THE HEAD?

Mon, 01/07/2013 - 23:21 | 3131619 HellFish
HellFish's picture

I'm amazed it hasn't happened yet. 

Mon, 01/07/2013 - 21:37 | 3131411 SAT 800
SAT 800's picture

Oi Veh. he knows too much to be a good guy; but he plays the part well.

Mon, 01/07/2013 - 23:08 | 3131591 asteroids
asteroids's picture

Timmy is a weasel. This guy might be El Grande flaming asshole. Only time will tell.

Mon, 01/07/2013 - 21:41 | 3131420 SafelyGraze
SafelyGraze's picture

.

Mon, 01/07/2013 - 21:46 | 3131429 Michaelwiseguy
Michaelwiseguy's picture

OT

Poland bans cultivation of GM crops

http://www.dailypaul.com/268928/poland-bans-cultivation-of-gm-crops

PS

Alex Jones on CNN Piers Morgan at 9PM est.

Mon, 01/07/2013 - 21:54 | 3131451 Chupacabra-322
Chupacabra-322's picture

Criminals protecting a Global Criminal Cabal Enterprise.

Tue, 01/08/2013 - 06:47 | 3132226 Anasteus
Anasteus's picture

Yes, it's important that both the Fed and the Treasury guys are Jews. It's too important position to be seized by anyone else. Furthermore, this guarantees that the government will not have a chance to make the debt pay-off easier, e.g. by issuing the platinum coin. The underlying message is 'No, no, dear Goyims, we do not want you to use the same scam for the pay-off as we do with debt issuing by printing money out of thin air. Your task is to manage the pay-off by exploiting and collecting taxes from the citizens. This, in addition, also guarantees that money issued at our own discretion will be backed by real work.'

Tue, 01/08/2013 - 19:01 | 3134411 Tompooz
Tompooz's picture

Goyim is the plural of goy. The s is redundant.

Wed, 01/09/2013 - 04:51 | 3135605 Anasteus
Anasteus's picture

Ok, thanks.

Mon, 01/07/2013 - 21:17 | 3131368 Dasa Slooofoot
Dasa Slooofoot's picture

rhymes with Lew

Mon, 01/07/2013 - 22:24 | 3131508 TwoShortPlanks
TwoShortPlanks's picture

Shoe...Loo...Cue...Moo...Flew...Crew...Blue...Glue...Knew...Poo...Stew...Two.

Am I getting warmer?

Mon, 01/07/2013 - 21:19 | 3131372 kaiserhoff
kaiserhoff's picture

How many fucking Jews ever went near Hahvud?  We must be at the bottom of the barrel.

Mon, 01/07/2013 - 21:28 | 3131398 ball-and-chain
ball-and-chain's picture

Jack Lew is just another cheap criminal in an expensive suit.

It must be great to go to Harvard.

Upon graduation, you're actually allowed to steal.

Punks.

http://www.angrysinner.blogspot.kr/2013/01/saturday_7.html

Mon, 01/07/2013 - 21:33 | 3131406 realtick
realtick's picture

What ever happened to your fucklloydblankfein url?

Mon, 01/07/2013 - 21:47 | 3131432 yogibear
yogibear's picture

Like James, James Bond... 

Jack, Jack Jew.

Mon, 01/07/2013 - 21:49 | 3131438 The Gooch
The Gooch's picture

No moar lockjaw.

"Lack Jew".

 

Tue, 01/08/2013 - 00:28 | 3131787 Go Tribe
Go Tribe's picture

Jacob Joseph Lew. Another socialist jew. Another obama tool.

 

Tue, 01/08/2013 - 10:18 | 3132594 EverythingsSuper
EverythingsSuper's picture

Oh silly anti-semite, don't you know that Joos are the smartest chosenest people in the world?!? It's just a coincidence, you know, like Jews make up less then 2% of US population, yet occupy 99% of high ranking government jobs at EVERY level. Sneakily using goyish names and changing their last names.....

Or if it's not a coincidence, it's because jews are the smartest people in the world (or at least that's what they'll tell you before you get gipped) and all the Goyims are dumb....see how nice and tolerant they are? But, don't you dare say that, or you'll be an anti-semite forever and deserve to have your head smashed in by Bear Jew. :)

 

All's Kosher in the ZOG realm today.

Mon, 01/07/2013 - 21:09 | 3131320 Insideher Trading
Insideher Trading's picture

Oh fuck.

Really?....Really?

I just want to bury my head in the sand with shit like this; Hagel, Kerry, this twat.

Don't I have constitutional protection against cruel and unusual punishement?

Mon, 01/07/2013 - 21:25 | 3131395 Zap Powerz
Zap Powerz's picture

Why does a suspected muslim surround himself with so many Jewish people?

Mon, 01/07/2013 - 21:52 | 3131445 economics9698
economics9698's picture

ZOG is everywhere.

Mon, 01/07/2013 - 21:03 | 3131324 grunk
grunk's picture

Copyright Jack Lew condoms.

Mon, 01/07/2013 - 21:05 | 3131333 SHEEPFUKKER
SHEEPFUKKER's picture

Jack-off

Mon, 01/07/2013 - 21:07 | 3131343 grunk
grunk's picture

Royalties, please.

Mon, 01/07/2013 - 21:12 | 3131356 Squid Vicious
Squid Vicious's picture

Lax Jew?

Mon, 01/07/2013 - 21:13 | 3131361 buzzsaw99
buzzsaw99's picture

Lack Jew, how fitting

Mon, 01/07/2013 - 21:07 | 3131342 Cheesy Bastard
Cheesy Bastard's picture

Or scumbags, as they are called in the vernacular.

Mon, 01/07/2013 - 21:04 | 3131328 stopcpdotcom
stopcpdotcom's picture

No Lewd jokes please.

Mon, 01/07/2013 - 21:06 | 3131335 reTARD
reTARD's picture

Jacob Lew... where are your GS qualifications? Nevermind, you qualify for being a member of CFR.

Mon, 01/07/2013 - 21:06 | 3131339 nmewn
nmewn's picture

He's perfect for a job in this administration...he's either a fucking clueless idiot or a liar of the first order.

Take your pick.

"Lew made a series of factual blunders on the Sunday talk show circuit. In an effort to defend Senate Majority Leader Harry Reid’s (D., Nev.) refusal to even hold a vote on a Democratic budget proposal, Lew incorrectly stated—twice—that Republicans would be able to filibuster the measure, thereby forcing a 60-vote threshold for passage. Senate Democrats have not passed a budget in 1,019 days.

“[Reid’s] not saying that they shouldn’t pass a budget,” Lew said on CNN’s State of the Union. “But we also need to be honest. 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.”

“Unless Republicans are willing to work with Democrats in the Senate, Harry Reid is not going to be able to get a budget passed,” he added.

Lew later repeated this line on NBC’s Meet the Press. “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.

Lew’s statement is patently false, however. The Congressional Budget Act of 1974 prohibits filibusters of budgets, requiring only a simple majority, or 51 votes, for passage. In the event of a 50-50 tie, Vice President Joe Biden would cast the deciding vote."

http://freebeacon.com/lew-doesnt-know-jack-about-budgets/

Mon, 01/07/2013 - 21:11 | 3131355 reTARD
reTARD's picture

I also did not know that... and I chair the Fed! ;-)

Mon, 01/07/2013 - 21:34 | 3131364 nmewn
nmewn's picture

lol...I have long held the opinion that the average ZH commenter could do a better job than ANY elected or appointed official ;-)

////////////////////

There's more...everyone remember Solyndra?

"The restructuring went forward, but within months Solyndra failed anyway, leaving federal taxpayers on the hook for much of the half-billion-dollar federal loan. Now, a year after the company’s collapse, debate continues over whether the refinancing plan was legal or a wise investment. Last week, Solyndra’s final liquidation plan estimated that the government will recover just $24 million of the $527 million that taxpayers lent to the company."

"They also show that career OMB staff members circulated a series of e-mails emphasizing the risks of restructuring the loan. In congressional testimony last year, the agency’s deputy director suggested that career staff members made the final determination about what to do and “used their best expertise.”

The House energy committee is expected to release the results of its 18-month investigation into Solyndra this week. Its report, parts of which were obtained by The Washington Post, suggests that then-OMB Director Jack Lew let the refinancing move forward without intervening, even though some OMB analysts thought a refinancing plan that favored private investors might violate the law. Lew is now White House chief of staff."

http://www.washingtonpost.com/national/white-house-budget-analysts-thought-saving-solyndra-could-be-expensive-move/2012/08/01/gJQAf2QGQX_story.html

Yep, he's a perfect fit to oversee the IRS.

Mon, 01/07/2013 - 21:49 | 3131435 SAT 800
SAT 800's picture

Violate the Law! Oh, No. I can't believe it. That one piece of payolla stunk so bad; if people actually got the idea and rmembered it he never could have gotten re-elected. I mean at that point even with what was in the MSM, Obama had a rubber stamp on his forehead that said, "Fraud", "Crook". But, nobody knows nuthin.

Mon, 01/07/2013 - 23:11 | 3131600 disabledvet
disabledvet's picture

and there i was thinking the fact that there never was an Obama Budget meant he really was doing nothing all those years. Ah, well. Hope springs eternal. "Senor Cut the Check" has been nominated. And lo and behold if the Banks haven't been VINDICATED in their robo-signing fiasco. It was Country-wide! They were the bad apple in the apple cart i tell ya! Now let the fiatsco proceeed sheeple! We play this game to WIN!

Mon, 01/07/2013 - 23:25 | 3131626 Salon
Salon's picture

This is a huge fraud that would have taken down a republican administration, but this is only one of many huge frauds the MSM wont publicise.

I wonder what history will say about how Obama had huge, repeated scandals, yet mainstream reporters simply looked the other way. Even comedians admit they mostly wont touch obama. Sad

Mon, 01/07/2013 - 21:34 | 3131405 ziggy59
ziggy59's picture

He was only kidding when he said that..
Besides it takes one NOT knowing law or one NOT following the laws to get a leadership job like Sec Treasurer... TurboTax Tim is named so for a reason.

Mon, 01/07/2013 - 21:44 | 3131426 Karlus
Karlus's picture

Head of the Ministry of Treasury is a political job. Im not suprised he does not know anyhthing about money.

Qualifications: Does what he is told. Check

Mon, 01/07/2013 - 21:44 | 3131427 SAT 800
SAT 800's picture

Oh, you mean, like he had his fingers crossed behind his back when he said that? Darn, I hate when people do that.

Mon, 01/07/2013 - 21:43 | 3131424 SAT 800
SAT 800's picture

Wow. that's good research you did there. Maybe we should send him an e-mail and explain how budgets get passed; I'm sure it was just a sincere error.

Mon, 01/07/2013 - 22:17 | 3131494 nmewn
nmewn's picture

I was actually watching when he said it...my mouth dropped wide open.

The talking head, of course, didn't challenge him on it...because of course, he was even dumber than him...or a party to the lie.

Again...take your pick ;-)

Mon, 01/07/2013 - 22:37 | 3131535 CPL
CPL's picture

Well you bring both your key players to the party and a couple of patsies to run as decoy's.

 

He's a nobody and he's being fattened for something else.  Five years from a separate administration/Political platform and a promotion to master of the purse.  I'm afraid Lew will be the barer of bad news.

Mon, 01/07/2013 - 23:06 | 3131583 logically possible
logically possible's picture

My first thoughts exactly. The new guy is the fall guy and he doesn't have a clue. The only thing missing in that picture, is the apple in his mouth.

Tue, 01/08/2013 - 09:27 | 3132399 CPL
CPL's picture

I wonder how they'll do in his career and the two others?

Will he be the barer of the austerity measures about to be set forth in the CIA and DoD with the chief switch over (even that is slightly questionable, DoD is a dry drunk and CIA is a heart attack waiting to happen).  Why are they lining up patsies?  Redirection and deflection?

 

There's nothing about the new people in the chairs that stands out career wise other than they've actually worked for a living once.  Old Lew might be a master of the universe type of guy, but he's a tactical guy that you leave moving the pieces behind a stage and directing things.  Get them in a spot light and let them talk, they always end up sounding arrogant to the public because they talk in facts.

 

But I don't understand why they are breaking the script to stick their tanks and do'ers on the front line...Unless everyone else refused out of hand completely and those three weren't at that meeting.

 

All three won't know what hit them once they are fattened for a piece of a plan somewhere.

Mon, 01/07/2013 - 21:16 | 3131367 grunk
grunk's picture

He's just another one.

Just like the other one.

Mon, 01/07/2013 - 21:18 | 3131371 Zap Powerz
Zap Powerz's picture

Ok, sure this guy sucks, but is he any worse than Timmay?

Does this shit even matter anymore?  Does it matter if we change the conductor that leads the band on the Titanic as it sinks?  Nope.  Not. One. Bit.

The goal for public officials now is to see how much they can steal from the tax payers before the shit hits the fan.  No one wants to be the last guy in office when it hits the fan, but all want to be the next to the last guy so they could have stolen as much as possible before the collapse.

Lew is pretty stupid if he thinks he's got a chance to be that second to the last guy.

Mon, 01/07/2013 - 21:41 | 3131422 JR
JR's picture

What matters is the confirmation that the bankers believe they no longer have to pretend that the United States is governed by a people-represented government.

If there was a step toward a police state, this would be it.

Mon, 01/07/2013 - 22:04 | 3131472 Cheesy Bastard
Cheesy Bastard's picture

Yes.  And this:  The mastermind of Barack Obama's secret drone war was chosen on Monday to lead the CIA and "relentlessly" extend its controversial campaign against al-Qaeda into the president's second term.

http://www.telegraph.co.uk/news/worldnews/barackobama/9786434/John-Brenn...

Tue, 01/08/2013 - 00:33 | 3131801 Go Tribe
Go Tribe's picture

They won't need to take our guns. Just rob our retirement accounts and float armed drones everywhere, shooting a few of us now and then right through the roofs of our homes, just to make a point.

Mon, 01/07/2013 - 21:18 | 3131374 Kastorsky
Kastorsky's picture

he was chosen...

get it ... "chosen"?

Mon, 01/07/2013 - 21:19 | 3131375 roadhazard
roadhazard's picture

Yes, Obama IS a Socialist... socializing the losses and giving handouts and sweetheart deals to Corporate AmeriKa. How do you tell him from a Repubican, you don't.

And the "hippies" get tagged as terrorists and have assassination plots against them that they aren't even told about.

It's a world gone bat shit KraZy.

Mon, 01/07/2013 - 21:20 | 3131380 Getting Old Sucks
Getting Old Sucks's picture

Someone the FED can just slap around and tell him when to bend over.  I'd rather Jamie in there cause then we could at least call him out and tell him he likes the dick up his ass.

Mon, 01/07/2013 - 21:23 | 3131384 Jack of All Trades
Jack of All Trades's picture

Does he use Turbo Tax to prepare his tax returns??

Mon, 01/07/2013 - 21:23 | 3131387 pragmatic hobo
pragmatic hobo's picture

can't possibly be worse than timmy the fuck-head, right?

Mon, 01/07/2013 - 21:24 | 3131392 Squid Vicious
Squid Vicious's picture

as a youth, Lax Jew "touted the import of immigration" ... color me "not shocked"

Mon, 01/07/2013 - 21:28 | 3131399 JR
JR's picture

When the big banks were knee deep in the housing crisis profiting from every move, Jack Lew was at the center of this activity, profiting and making decisions.

Glenn Greenwald had the facts in 2012 on Lew: here is a quote:

“In 2010, Lew became head of the Office of Management and Budget when Peter Orszag left and then, a couple months later, accepted a multi-million dollar position as a high-level Citigroup official. Lew has spent many years in various government positions, but he has his own substantial ties to Citigroup. Here is what Lew was doing in 2008 at the time the financial crisis exploded, as detailed by an excellent Huffington Post report from last year: [Lew] oversaw a Citigroup unit that profited off the housing collapse and financial crisis by investing in a hedge fund king who correctly predicted the eventual subprime meltdown and now finds himself involved in the center of the U.S. government’s fraud case against Goldman Sachs.  . . .

“Lew (like so many key Obama officials) also participated in the orgy of Wall Street de-regulation that took place in the 1990s when he served as Clinton’s OMB head; after leaving Citigroup to join the Obama administration, he unsurprisingly said in response to questioning from Sen. Bernie Sanders that he does not believe deregulation contributed to the financial crisis.”

http://www.salon.com/2012/01/10/the_new_wh_chief_of_staff_and_citigroup/singleton/

Tue, 01/08/2013 - 00:37 | 3131812 Go Tribe
Go Tribe's picture

Thanks for that link. This guy's a fucking criminal.

Mon, 01/07/2013 - 21:32 | 3131404 bnbdnb
bnbdnb's picture

"Just as I imagine it would be frustrating to hit batting practice off Sandy Koufax."

Of course it would be tough when they refuse to give you any bats.

Mon, 01/07/2013 - 21:44 | 3131415 Dr. Engali
Dr. Engali's picture

Doesn't the word treasury imply that there is something of value in it to protect and disperse ? Maybe the new title should be "the department of debt".

Mon, 01/07/2013 - 22:33 | 3131528 nmewn
nmewn's picture

Or Department of Theft.

Mon, 01/07/2013 - 21:40 | 3131418 yogibear
yogibear's picture

Corzine was taken off  a while back. 

Out with the old tax cheat and in with the new cheat.

Mon, 01/07/2013 - 21:42 | 3131423 HurricaneSeason
HurricaneSeason's picture

I thought the Treasury Secretary was suppose to come from Goldman Sachs so they have a background in the private sector and criminal law.

Mon, 01/07/2013 - 21:47 | 3131430 grunk
grunk's picture

Raise your hand if you are going to turn in your guns.

Mon, 01/07/2013 - 22:07 | 3131478 The Gooch
Mon, 01/07/2013 - 22:09 | 3131481 toomanyfakecons...
toomanyfakeconservatives's picture

Oh please... not happening.

 

Don't shoot 'til you see the blue of their helmets.

Mon, 01/07/2013 - 22:38 | 3131539 nmewn
nmewn's picture

lol...sold em all to some guy on third street wearing dreadlocks...no, was it a boating accident?

Wait, thats not right...hmmm.

"I just don't recall." - Corzine/Hillary

Mon, 01/07/2013 - 21:47 | 3131431 Cabreado
Cabreado's picture

Nicely done, ZH.

It sounds like he's quite comfortable playing politics.

Good choice for the politician, and chaos in general.

 

Mon, 01/07/2013 - 21:48 | 3131433 Verum
Verum's picture

Looks like we found out who will be on the $1 Trillion dollar coin.

Mon, 01/07/2013 - 21:52 | 3131439 smiler03
smiler03's picture

I despise and abhor racism but I could spot from 400 metres that this guy is somehow related to Barbra Joan Streisand.

 

I am sho...  supris.... stun.... disbelieving of my own racist attitude.

I have a new found theory. The US has a history of circumising male infants regardless of religion or medical need. Historically this was only done by Jews and the other ones like Semites. Somehow you Yanks made it the norm. Why?? It certainly wasn't from your non Jewish relatives in Europe. Maybe.. maybe.. there was a plan? Make all the boys the same so that you can't blame favouritism on whether they were mutilated or not. How can they tell in the boys room that you were picked for the job because you're unusual? They can't.

(OMFG, now I think that Aliens are draining Lake Mead and I'm carrying an alien baby)

Mon, 01/07/2013 - 23:10 | 3131597 nmewn
nmewn's picture

Actually, its easier to clean (for the dirty & slovenly) and more aesthetically pleasing to the ladies.

But why on earth are you bringing up male penises...you can't afford to lose a small, infestimal measurment of skin? Do you think that makes a difference in your love life or manliness? 

Mon, 01/07/2013 - 23:53 | 3131679 Salon
Salon's picture

Yeah American girls used to wretch at the site of an uncircumscised penis. It is disgustingly ugly.

I am as anti zionist as most here and support wiping israel off the map.

Still my cock, and most circumscised cocks, are much better looking.

The joos had one good idea at least.

Mon, 01/07/2013 - 21:55 | 3131447 JLee2027
JLee2027's picture

Dear Jack:

The US Mint reported sales of nearly 4 million Silver Eagles today. If you want to keep your new job, we need you to act right now and stop this madness. All silver is to be diverted to COMEX because the Chinese want it even more than the hookers and blow we offered them.

Sincerely,

Jamie, BFF, JP Morgan

Mon, 01/07/2013 - 21:54 | 3131449 PatientZero
PatientZero's picture

Oy Vey, Goyim. You still don't know that G-d's Chosen run the Treasury Department? Still don't know that G-d's Chosen run the Fed?

Mon, 01/07/2013 - 22:00 | 3131464 The Gooch
The Gooch's picture

Found this earlier today.

Petition to end dual-citizens in .gov

https://petitions.whitehouse.gov/petition/remove-all-dual-citizens-feder...

Mon, 01/07/2013 - 22:00 | 3131465 Nid
Nid's picture

Orszag, what a fucking doosh. Can we please try and forget the fact that an adolescent piece of shit like Orszag actually had some say in governing the US?

Mon, 01/07/2013 - 22:09 | 3131484 Cabreado
Cabreado's picture

Beware the Opportunist and Sycophant.

No "governing" going on... not even an interest.

How scary is that?

Mon, 01/07/2013 - 22:05 | 3131474 e_goldstein
e_goldstein's picture

I am Jack's...

Mon, 01/07/2013 - 22:57 | 3131573 Oldballplayer
Oldballplayer's picture

I am jacks hairy, itchy scrotum.

 

Mon, 01/07/2013 - 22:13 | 3131489 gimli
Mon, 01/07/2013 - 22:15 | 3131491 AgAu_man
AgAu_man's picture

Bush'ama: "Stay the course! We have the right people chosen. Might makes right."

ZH investors: "Stay the course... Fight the Dark Lord with the One Ring To Rule Them All. Invest in Truth and Yourselves. Right makes might."

Mon, 01/07/2013 - 22:18 | 3131497 realtick
Mon, 01/07/2013 - 22:18 | 3131498 loveyajimbo
loveyajimbo's picture

Lew better read all of Obunga's exec orders and his NDAA... this is no
progressive"... this is a fascist/socialist.  And if he is really serious about deficit reduction... he will never be selected anyway.

Mon, 01/07/2013 - 22:31 | 3131527 WTFx10
WTFx10's picture

Lews are immune from "we the people" Terrorists laws. Those laws are to protect the Lews, shit the Lews wrote them!

Tue, 01/08/2013 - 09:13 | 3132395 Mr. Hudson
Mr. Hudson's picture

Do you have something against Lewish people?

Mon, 01/07/2013 - 22:19 | 3131500 Hopium Dealer
Hopium Dealer's picture

Holy Jewy McJewjew!

The Jews reign over U.S. finance is complete.

Mon, 01/07/2013 - 22:21 | 3131505 BLACK_DOG
BLACK_DOG's picture

He must be a surgeon, it say he's an Orthodox ?

Mon, 01/07/2013 - 22:27 | 3131514 WTFx10
WTFx10's picture

Oh shit Jack Jew, I mean Lew. Go figure? What there are no goyum that know how to manage money? Well maybe not as honestly as a Lew? Put icing on the cake, does he hold dual citizenship?

What country is this again? We have almost as many  Lews in government as Israel and we warmonger just like them too.

But I must be a racist for POINTING OUT THE OBVIOUS. On the bright side the Lews let us have a minority POTUS puppet. Once a slave always a slave whether he is working in the fields or pretending to run the country.

God Bless The United States of Israelica (I'm still trying to figure out which God would let this happen.)

This Lews in finance shit is getting old. Can we start the war with Iran now?

 

Mon, 01/07/2013 - 23:05 | 3131587 williambanzai7
williambanzai7's picture

Jack Lewd, his nickname is Jack the Crack

Mon, 01/07/2013 - 22:35 | 3131531 Joebloinvestor
Joebloinvestor's picture

Just another jack off to get laughed out of China.

Mon, 01/07/2013 - 22:38 | 3131538 Richard Head
Richard Head's picture

Go fuck yourself, Lew.  Geithner too.

Mon, 01/07/2013 - 22:39 | 3131542 BLACK_DOG
BLACK_DOG's picture

As Director of the Office of Management and Budget, He was Preceded by and Succeeded by Jeffrey Zionist (did I spell that right?)

Mon, 01/07/2013 - 22:54 | 3131565 ZeroAvatar
ZeroAvatar's picture

Half a phone book of 'Smith's and 'Jones' but not one in the white house.

Mon, 01/07/2013 - 22:56 | 3131570 Oldballplayer
Oldballplayer's picture

The best thing they can say about this guy is that "he knew his stuff."  OK, show of hands out there:  Who could walk into a meeting with even the smallest Board of Directors and NOT know his stuff? 

"Oh, I like this guy...he understands his job!"

We are so fucked that the guy who knows his job is considered unique.

Mon, 01/07/2013 - 22:56 | 3131571 Seasmoke
Seasmoke's picture

i pledge allegiance to the United States of Israel

Tue, 01/08/2013 - 08:31 | 3132329 machineh
machineh's picture

... and to the zionist tyranny for which it stands.

Mon, 01/07/2013 - 23:20 | 3131586 Zer0head
Zer0head's picture

as noted above this guy did change his name so to speak - he was always known as Jacob Lew who cut his teeth as an advisor to Tip O'Neil - along with MSNBC's Chris Matthews -- yes Jack Jacob Lew and Chris Matthews were colleagues

and had some kind of involvment with Iran Contra

[John Poindexter] testified before the Iran-contra committee that [O'NEILL] was personally responsible for delaying a vote on contra aid for six months in 1986 and because of his action damaged trust between the White House and Congress.

Christopher Matthews and Jacob Lew, two former aides of O'Neill, said a check of last year's Congressional Record of the debates and votes on contra aid rebuts Poindexter's assertions.

Although O'Neill personally opposed aid to the rebels, both Lew and Matthews said he did not abuse his powers to delay votes on the aid. "In fact," Lew said, "many Democrats were blaming Tip for being too fair, for giving the other side too many chances to pass the package."

http://pqasb.pqarchiver.com/boston/access/59512304.html?FMT=ABS&FMTS=ABS...

and during budget and tax negotiations in the Clinton years

http://www.washingtonpost.com/wp-srv/politics/special/budget/stories/tax...

My guess is that in due course many will be looking back to the good old days when Timoccio was the Treas Sec - as Mr. Jacob Lew appears to be one smart slick emmeffer

Mon, 01/07/2013 - 23:24 | 3131625 Atomizer
Atomizer's picture

Meit Chattanooga Woo: Teem Geifner's Replacement...

Mon, 01/07/2013 - 23:38 | 3131654 devo
devo's picture

This guy is going to crusade for the gold standard!

/sarc

Mon, 01/07/2013 - 23:42 | 3131660 Atomizer
Atomizer's picture

Ye hae tae shut doon business shells when th' heat is gettin' tae ye. Those new gin laws micht help ye kick th' economic agenda doon th' road. Whit dae ye hink mr treaury bloke?

 

/sarc

Tue, 01/08/2013 - 00:01 | 3131710 linrom
linrom's picture

If he went to Carleton College in MN during 1970s, he is a genuine Progressive who knows what a coop is. :) But sticking him in Treasury?

 

Tue, 01/08/2013 - 00:13 | 3131743 Henry Hub
Henry Hub's picture

Oh thank god Jack Lew is a Jew. Can you imagine the evil horror that would happen if a gentile became Treasury Secretary. I shutter to think about it!

Tue, 01/08/2013 - 00:16 | 3131754 knukles
knukles's picture

Bet he understands Paltinum Coin Theory

Tue, 01/08/2013 - 01:18 | 3131910 Honest_Money
Honest_Money's picture

Bet he understands Treasury raids and front running the ESF

Tue, 01/08/2013 - 01:25 | 3131931 resurger
resurger's picture

Jack Who?

 

Tue, 01/08/2013 - 02:22 | 3132035 Lord Of Finance
Lord Of Finance's picture

He looks like a puppet. It's still better then being a muppet.

Tue, 01/08/2013 - 05:44 | 3132178 Wakanda
Wakanda's picture

Dear Jack Loooo,

Welcome to the ZH "talent pool"!

In terms of satire, you have really big shoes to fill here.  Very little has made me laugh harder than WB7s images of Turbo Tax Timmah G and his wild adventures in the fantasy theme park called the US economy.  Please upload lots of stills so William has plenty of material to photochop.  Doesn't matter where you put them, he's a clever lad and will find them with Google images.  I expect nothing but the best from you for my personal entertainment - after all you are getting paid the big Bennie bux to schnooker and entertain the masses.

Replacing a wanker like Timmah will be a big challenge, but something tells me you will not disappoint!

Go big or go home!

Your hopeful fanboi,

Wakanda

Tue, 01/08/2013 - 05:26 | 3132187 Monedas
Monedas's picture

"Asshock" Varadhan ?   "Lack Jew" ?    Monedas bows to superior Barbra Streissand purveyors !

Tue, 01/08/2013 - 06:02 | 3132203 Shylockracy
Shylockracy's picture

Let's celebrate dancing the Hoax and Chains jig, mischpuke-style.

Tue, 01/08/2013 - 09:08 | 3132383 Mr. Hudson
Mr. Hudson's picture

 

Lew "packed in long hours six days a week, taking off every Saturday to observe the Sabbath (he is an Orthodox Jew)"

I'm beginning to feel like I live in Israel and not the United States.

Wed, 01/09/2013 - 11:46 | 3136547 alangreedspank
alangreedspank's picture

Yes, he's a proficient economist when amongst clueless economists. Like all pols.

Thu, 01/10/2013 - 12:15 | 3140778 koan
koan's picture

Just what AMerica needs, another missing foreskin in her financial sector.

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