Bill Daley, the president's chief of staff whose departure was announced today, was previously a top executive at financial firm J.P. Morgan Chase & Co.
And the new Chief of Staff Jack Lew...
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.”
You just cannot make this stuff up. I wonder if the 99% will show up at the White House and protest this? A little occupy wall street on the White House lawn? I am sure the Obama would not mind.
And on MSNBC's website the news stories on this do not mention this bit of news...I wonder why?
New chief of staff a low-key, long-time insider
Funny that a 1 per-center who made his money on the alternative investments collapse is called "low Key" by MSNBC.