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An Unqualified Jack Lew Will Tax and Spend

D G Wrote: Jan 12, 2013 4:10 PM
Kenneth ..... Here is a quote from John Snow's testomong before the U.S. House Financial Services Committee Proposals for Housing GSE Reform on April 13, 2005. "Events that have transpired since I testified before this Committee in 2003 reinforce concerns over the systemic risks posed by the GSEs and further highlight the need for real GSE reform to ensure that our housing finance system remains a strong and vibrant source of funding for expanding homeownership opportunities in America. The Administration remains troubled that neither Fannie Mae nor Freddie Mac has financial statements filed with the SEC that can be relied upon. Freddie Mac has yet to file any financial statements in conformity with the securities laws, and...

The worst part of the Jack Lew nomination for treasury secretary is not simply that he has no qualifications, standing or experience in the financial world or international sphere (think G20 and European debt crisis). Nor is it simply that he doesn't have any seasoned currency opinions (under Obama, the greenback has dropped 10 percent, while gold has doubled).

Yes, these are big disqualifiers. But the real problem is that Lew is a left-liberal Obama spear-carrier, whose very appointment signals a sharp confrontation with the Republican House over key issues such as the debt ceiling, the spending sequester, next year's...