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Obama to Name Lew to Treasury Thursday. But Why?

by Keith Koffler on January 9, 2013, 1:12 pm

President Obama will announce Thursday that he is choosing White House Chief of Staff Jack Lew to replace Timothy Geithner as Treasury Secretary, according to Reuters.

Yes, the same Jack Lew who as Obama’s Office of Management and Budget director and White House chief of staff has overseen Obama’s annual trillion dollar-plus deficits, lousy economy, and persistently high unemployment. Quite a success story.

Photo by Keith Koffler

Photo by Keith Koffler

What’s more, Lew has little experience with the financial markets, spending only a brief and un-illustrious time on Wall Street managing a Citigroup unit that bet on the housing market to collapse and lost money anyway in his final year there, 2008.

He was well compensated, of course.

The Lew nomination showcases the irredeemable insularity and hubris of the Obama White House, where everything that’s wrong is attributable to George W. Bush or – since the Blame Bush shelf life is expiring – the fault of Republicans Congress that won’t do everything Obama says.

Obama and his budget chief Lew have overseen the highest federal outlay of cash as a share of the economy since World War II and didn’t get serious about cutting spending until Republicans started to make threats the White House deems irresponsible.

This nomination is not about cutting the budget or really even improving the economy, it’s about defending and expanding Obama’s legacy.

As Charles Krauthammer noted last night, Lew is valuable to Obama because he is intricately familiar with the budget – knowledge he can use to parry Republican attempts to cut spending and alter Obama programs.

Short on achievements but long on loyalty and commitment to Obamaism. Meet your new Treasury Secretary nominee who – the Senate can pick only so many fights – will almost certainly be confirmed without much argument.

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Julie Brueckheimer January 9, 2013 at 1:28 pm

What’s Obama aiming for, a fight on each and every nomination? Of course, Kerry will get the pass because he’s part of the club.

Lizzy January 9, 2013 at 1:29 pm

‘Short on achievements but long on loyalty and commitment to Obamaism’
Isn’t that a requirement for Obama appointments? That and paying back
favors. They will be blaming Bush till they are being dragged out of the WH
in 2017.

cincycinco January 9, 2013 at 1:37 pm

“Short on achievements” he likes. Wouldn’t want anyone to outshine the Boss, would you? Also, someone who actually KNEW a little bit about the financial markets MIGHT make Barry look, I don’t know, like he’s economically illiterate or something…

Also, The Angry Caliph brooks no dispute at his meetings. Someone who actually UNDERSTOOD economic matters might have the audacity to gainsay His Annointedness. You wouldn’t want the smartest guy in the room to have to deal with putting his own underlings in their place, would you?

You get the stupid guy if you just want someone to parrot what you spoon feed them. Such a one is very well aware he doesn’t understand anything himself, and so will be very malleable to your will, even to the point of falling on his sword for you. President Myway may have his faults, but knowing how to use people isn’t one of them.

danceswithtruth January 10, 2013 at 12:53 pm

Good leaders surround themselves with people who are smarter than themselves. It tends to make the guy in charge look smart too.

I can’t determine if this administration is more like the Keystone Kops or Larry, Moe and Curly during the “Who’s on First” routine. Whichever, it’s laughable the first time. It’s depressing to the point of tears after about the thousanth time.

cincycinco January 9, 2013 at 1:29 pm

“What’s more, Lew has little experience with the financial markets,” – Keith Koffler

So? Prezzy learned everything he knows about national governance as OJT, and that worked out fine, didn’t it?

Oh, wait…

Julie Brueckheimer January 9, 2013 at 1:34 pm

According to the Washington Times, Lew received a $900,000 bonus when he left Citigroup at the same time we taxpayers were bailing them out.

Julie Brueckheimer January 9, 2013 at 1:36 pm

$944,578 to be exact. Where’s the vetting?

cincycinco January 9, 2013 at 1:37 pm

Shh! Don’t notice stuff!

Lizzy January 9, 2013 at 1:50 pm

We don’t need no stickin vetting! I am the imperial Ruler!

Scottso January 9, 2013 at 1:50 pm

Vetting? You expect too much Julie.

Keith Koffler January 9, 2013 at 1:53 pm

Thanks for getting the number, Julie.

Lizzy January 9, 2013 at 3:14 pm

Julie was able to give us a $ amount. How many times on this site
have the brilliant posters given us very good information as to the cost of all things Obama makes it all the better to make a point when
armed with those pesky facts. Wonder how many who voted for Obama were this knowlegable or informed?

Otis Driftwood January 9, 2013 at 4:36 pm

none. Or believe Media Matters and MSDNC.

Martha Trowbridge January 9, 2013 at 2:07 pm

Why?

Simply because Lew’s been ‘in on’ what’s been happening ‘under the radar’, as Obama was fond of saying – until his braggadocio was discovered to be based in fact.

Appointing an ‘outsider’, at this stage, is far too risky.

OregonJarhead January 9, 2013 at 2:44 pm

Because he is an Obummer sock puppet that’ll do as he’s told.

Susan January 9, 2013 at 4:39 pm

Being a useful idiot is about the only qualification required to fill cabinet positions in Preezy Revenge’s regime. Watch this poor sucker get the blame for everything tax cheat Timmy has done…

Jeff1000 January 9, 2013 at 2:49 pm

This guy Jack Lew is a master at twisting the truth and distorting the numbers to support Barack Obama’s bankrupt agenda; he has more tricks up his sleeve than David Copperfield. Jack Lew is an amazing piece-of-work.

srdem65 January 9, 2013 at 3:44 pm

Why, indeed. There can’t be too many people wanting to head up a department that everybody hates and no one can control.
The short list of Obama retainers gets shorter every day when so many of them have backgrounds they’d rather not be exposed.

Chris January 9, 2013 at 3:49 pm

I say, Carol Tome for Treasury! She’s the CFO at Home Depot and the Chairwoman of the Atlanta Fed. She actually understands how the American economy works…unlike the jokers there now.

Otis Driftwood January 9, 2013 at 4:40 pm

There is allot of outstanding CFO’s and others who would be well suited for the job, however to fill the vacancy they have to dump allot of their holdings as well as kiss someones A**. Add to it a huge pay loss. Am sure they look at this job as a kiss of death, or crewing a sinking ship.

Sol January 9, 2013 at 5:20 pm
Just2old January 10, 2013 at 6:57 am

Who’s your daddy….

Anne Lieberman January 9, 2013 at 5:48 pm

Putting a Jew in charge of the Treasury in advance of certain economic collapse… Roger that.

Susan January 9, 2013 at 6:16 pm

That’s also why he’s putting a Republican in charge of dismantling the military.

Sadie January 9, 2013 at 7:04 pm

Who’s face goes on the Billion Dollar coin they’re anxious to mint?

Wait…they don’t need a face on the coin – a “jackass” will do.

Sol January 9, 2013 at 8:53 pm

No – you can’t have a sitting president on a coin.

DeniseVB January 9, 2013 at 7:11 pm

If Turbo Tax Timmy made it through confirmation, Lew will too. Sad.

Not Nabob January 9, 2013 at 7:17 pm

I’ve referred to him as Tax Cheat Timmy. But Turbo Tax fits perfectly as well.

Not Nabob January 9, 2013 at 7:26 pm

Time heals all wounds, but these power hungry haters are leaving deep gashes that could possibly never be healed. God help us, it’s our only hope or so it seems.
Best regards,
Stephen R.

p.s., Can Anyone still make a “citizens arrest”?

gracepmc January 9, 2013 at 7:49 pm

One fine morning in the reign of Obama consitutional rights will be suspended and martial law declared. And it will be done with the advise and consent of the Democrat Party.

Not Nabob January 9, 2013 at 10:12 pm

You my fellow poster are a seer, a sage and will be persecuted by the self same party.

Quintus Arrius January 9, 2013 at 8:26 pm

Jack Lew, Jack Lew…hmm. The Jack Lew who was at CitiGroup in 2007, when that company loaded up on toxic mortage assets late in the game, and needed 25 Billion in initial bailout money and needed another 25 billion to keep it afloat? THAT Jack Lew? Or the Jack Lew who under Clinton, negotciated the Balanced Budget Act of 1997? Same dude, of course.
We are in serious trouble on this appointment.

gracepmc January 9, 2013 at 8:52 pm

We are in serious trouble with all Obama’s nominations.

Just2old January 10, 2013 at 7:03 am

Agree. I looked up incompetent in the dictionary and guess who’s picture was there? Skip to my Lew, that’s who!

Just2old January 10, 2013 at 8:35 am

http://inthecapital.com/2013/01/09/jack-lews-ridiculous-signature-may-ruin-the-u-s-dollar/#ss__35742_1_0__ss

Jack Lew’s ridiculous signature may ruin the U.S. dollar!! How many loops can you draw in a row?

cincycinco January 10, 2013 at 8:48 am

Nah, Obama’s doing a fine job of ruining the American dollar all by himself. No one’s going to care what the front looks like when it’s worth less than the Kleenex that you can’t afford any more…

CiscoKid January 10, 2013 at 8:53 am

Just when I thought the bottom of the barrel had been scraped clean, yet another appointment by Dear Leader.

JennieWalsh January 10, 2013 at 2:27 pm

If Obama picked him, you can bet that he is also a member of the globalist organized crime syndicate. He will do what Obama and the international Satanic bankster-gangsters tell him to do, and will be very well compensated for his contribution to the destruction of America.