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


Actually to be fair they 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 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.

Click here for more on Lew’s nomination.