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Obama's Treasury Secretary Nominee Gets Free Pass on Cayman Islands Investments

Resist, We Much!!! Wrote: Feb 14, 2013 10:38 AM
"He “didn’t know” that his money was being housed in the Cayman Islands?" Mr Citibank is lying. “This is a corporation that finds itself in financial distress due to recklessness and greed. Under these circumstances, it’s hard to understand how derivative traders at AIG warranted any bonuses, much less $165 million in extra pay. I mean, how do they justify this outrage to the taxpayers who are keeping the company afloat? [I've asked Treasury Secretary Geithner to] pursue every single legal avenue to block these bonuses and make the American taxpayers whole. It’s about our fundamental values. All across the country, there are people who are working hard and meeting their responsibilities every single day, without the benefit of
Resist, We Much!!! Wrote: Feb 14, 2013 10:39 AM
government bailouts or multimillion-dollar bonuses. You’ve got a bunch of small-business people here who are struggling just to keep their credit line open. And all they ask is that everyone, from Main Street to Wall Street to Washington, play by the same rules. That is an ethic that we have to demand. I’m choked up with anger here.”

- President Barack Obama, 16 March 2009

He wasn’t “choked up with anger” when Jack Lew accepted a $1 million bonus after Citibank was bailed out.

Remember when Mitt Romney was repeatedly berated by President Obama and his campaign team for having perfectly legal investments in the Cayman Islands? As a reminder:

Romney has large investments in notorious overseas tax havens like the Cayman Islands and Bermuda. He had $3 million stashed away in a Swiss bank account that was closed in recent years for fear of political embarrassment.

It turns out, President Obama's former Chief of Staff Jack Lew, who has been nominated to replace Turbo-Tax Timonthy Geithner as Treasury Secretary, also had large investments in "notorious overseas tax...