Citibank predator will be the next Treasury Secretary

Barack Obama, the Nobel Laureate, has now officially presented Jack Lew to be his next Treasury Secretary. Lew, currently Obama’s Chief of Staff, would replace Timothy Geithner, a tool of big finance capital. Can we expect Lew to act in the general interest? No, he too promises to be a tool of big finance capital:

President Barack Obama’s choice [of Lew] to lead the White House budget office 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 also broke a Graduate Student’s union while working for New York University and before betting against American citizens while at Citigroup.

Timothy Geithner will remain Secretary of the Treasury

James Politi of the Financial Times reports that:

Tim Geithner has decided to remain as Treasury secretary, avoiding a potentially unsettling transition at the tiller of US economic policy amid renewed strains in financial markets and concerns about the trajectory of the recovery.

Politi continues:

“The president asked secretary Geithner to stay on at Treasury and welcomes his decision,” said Jay Carney, White House press secretary. He is now expected to remain into the autumn of 2012, according to one Treasury official.