Barack Obama’s new Chief of Staff made millions betting that Americans would lose their homes
We learned today that Barack Obama’s Chief of Staff has tendered his resignation and is going to be replaced with Jack Lew, an interesting choice to say the least.
We all remember that the “middle class warrior” once quipped that “at some point you have made enough money” and he railed against CEOs who took bonuses while their companies faltered and accepted bailout money, in fact he called this “shameful.”
So you can imagine my surprise when I learned this about Barack Obama’s newest–the third in three years–Chief of Staff:
From 2006-2008, Jack Lew was chief operating officer of Citibank’s alternative investments division. And it was his division that made billions of dollars betting “U.S. homeowners would not be able to make their mortgage payments,” as the Huffington Post reported.
The piece also reported: “Lew made millions at Citi, including a bonus of nearly $950,000 in 2009 just a few months after the bank received billions of dollars in a taxpayer rescue, according to disclosure forms filed with the federal government. The bank is still partly owned by taxpayers.”
Jack Lew made millions of dollars betting that middle class Americans would lose their homes and received nearly $1 million in bonuses for his successes in that field. This is exactly the type of person Barack Obama is talking about when he tries to initiate class warfare and yet he is now Barack Obama’s Chief of Staff.
Barack Obama’s actions don’t seem to match his class warfare rhetoric; I guess the saying it doesn’t matter what you know, it only matters who you know rings true in this instance. Just saying…..
America's Watchtower 
This is depressing. And the GOP is in a food fight over Romney and Bain. Why not attack this dude? Thanks for the heads up.
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This is being lost because of the coverage of the New Hampshire primary and there is no doubt that this announcement was timed because the White House knew the focus wouldn’t be on this.
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I’m surprised that Republicans aren’t highlighting the fact that the Obama regime is crawling with Wall Street types. If he despises them so much, why does he surround himself with the grimiest of the bunch?
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Maybe they are waiting for the general election before they bring this up, but it is somehting they should have been harping on all along.
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How do you spell, crony capitalism?
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I think you just did. 🙂 It is amazing that the left doesn’t seem to have a problem with this after all we heard from them over the last ten years. I guesss some cronyism is better than other cronyism.
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Good one! I shared on Reddit I assume you did, too but nobody upvoted you… too many Liberals there.
I am outraged nobody is outraged.
People twist a Romney comment yet this gets no airtime?!?
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Thank you and yes I did share it on Reddit, I don’t know why I did because you are right about the people there. I keep trying though.
The one bad thing about the primary season is it is going to provide the media with an excuse not to cover what Barack Obama is doing and this is a perfect example.
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One might assume that Lew’s appointment is a concession to the rogues gallery of thieves on Wall Street. But there may be something in the telling here. Remember Valerie Jarrett is calling the shots at the White House, and Jarrett is a master of Machiavellian tenets. I would guess that once Obama is re-elected, Lew will be given some kind of reward by the progressive elites to continue merrily onward to some other scam. Just my opinion….WM
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Yet another reason why Obama must be defeated!
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