You Don't Want Jack (Lew)
The Market Ticker ® - Commentary on The Capital Markets
Posted 2013-01-10 08:52
by Karl Denninger
in Editorial
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You Don't Want Jack (Lew)
 

Well now, at least we have one decent Senator....

A strongly worded statement by Sen. Jeff Sessions, R-Ala. -- prepared in anticipation of that nomination and obtained by Fox News -- signals the bumpy ride Lew could face during the Senate confirmation process. Sessions, the top Republican on the Senate Budget Committee, says Lew misled Congress about the White House's budget proposals and argues that should disqualify him from being put in charge of the government's finances.

"Lew, as the president's budget director, appeared before Congress and continued to insist that President Obama's budget-which Lew had crafted-would not add to the debt of the United States," Sessions said in the statement, calling Lew's comments "the most direct and important false assertion during my entire time in Washington."

"The most direct and false assertion"?  Oh I don't know about that.  There have been so many to choose from, including the $700 billion that was allegedly to buy "toxic assets" but Paulson knew good and damn well he intended to use elsewhere before TARP was passed, as was revealed during hearings under oath by Kashkari.

But I'll take this as at least a lie of the same degree, if not greater.  And the fact of the matter is that Congress has to stop accepting these lies and ratifying them, because once you take a lie told to you, act on and incorporate it and then do not bring the person(s) who lied to you to justice when that becomes apparent you are complicit in and an equal party to the lie yourself!

So I'm heartened to hear this from Jeff Sessions, but I remain deeply skeptical that Mr. Sessions, or anyone else for that matter on Capitol Hill, will actually force the truth to be told and accountability be enforced upon those both in the Administration and Congress who have enabled and promulgated this outrageous mess of deficit spending we have in the US today.

And make no mistake folks -- I've talked with enough Senators' offices to be utterly convinced that The Senate, by and large, knows full well how deficit spending screws everyone in America -- that it is exactly identical, economically, to a tax -- and yet they are unwilling to come before the people and both explain their conduct thus far in this regard and change it.

As I have noted before Lew is unsuitable for a whole host of reasons, including the fact that Obama could (and almost-certainly will) use him as a tool to play games with The Second Amendment.  But this is a function of his being tied below the waist to The President and not so much a matter of his personal ideology.  As a consequence it most-certainly applies on matter of the budget and fiscal policy as well; my original indictment was not limited to Constitutional concerns.

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User Info You Don't Want Jack (Lew) in forum [Market-Ticker]
Tman2
Posts: 139
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How dare you question King Obama's choice of main money man.

Sarc. off
Bertdilbert
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Whoever Obama appoints will come with a couple of platinum coins in his pocket.

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Dear Euroland: Relax, Germany has a plan for your money!

Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
Local_yokel
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Then why did Sessions vote "Yea" on the recent cliff budget agreement?
R2judge
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"Sessions, the top Republican on the Senate Budget Committee, says Lew misled Congress about the White House's budget proposals and argues that should disqualify him from being put in charge of the government's finances."


It is the perfect qualification. The whole thing is nothing but a scam to begin with.

R2judge
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"So I'm heartened to hear this from Jeff Sessions, but I remain deeply skeptical that Mr. Sessions, or anyone else for that matter on Capitol Hill, will actually force the truth to be told and accountability be enforced upon those both in the Administration and Congress who have enabled and promulgated this outrageous mess of deficit spending we have in the US today."


Accountability is for the person hiding behind the tree. ZERO bankers are in prison. Both political parties support this fact. The fiscal cliff was hot air. The debt ceiling is hot air. Republicans got the tax cuts extended in 2011, to the tune of 450 billion a year, then had the gall to complain about deficits.

It is all a game, a scam, a fraud. As Mel Brooks said in Blazing Saddles, can i get a harumph? It is all theater. The reason we have deficits is because BOTH parties want them. End of any real discussion.

Congress made a deal that 12 people would decide spending cuts and tax increases. They made a deal on sequestration if no deal was hammered out. Then they broke the deal. Theater.

Eventual repercussions from raising the debt ceiling? That is for someone else to worry about. Today is all that really matters to politicians, as they are up for re-election tomorrow.





End_the_bubbles
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Quote:
Sessions said in the statement, calling Lew's comments "the most direct and important false assertion during my entire time in Washington."


Has Sessions only been in DC a short period of time? smiley

Regardless, you can be 100% certain Lew will get the job.....

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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.
Vitchilo
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My GOD I couldn't stand all the crap these scum said about each other at the press conference...

Disgusting and 110% lies.

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"Every normal man must be tempted at times to spit upon his hands, hoist the black flag, and begin slitting throats." -- H.L. Mencken
Genesis
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I thought I had seen plenty of knob-slobbering.

I was wrong.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Maddymax
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Dixie loves it so much she is free falling

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Ben's policy will lead to wage deflation and commodity inflation which will lead to the Greatest Depression and Uprising Ever.
Who needs TA we got POMO
Genesis
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No, that was the ECB saying "**** you we're not going to play competitive devaluation games."

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Maddymax
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that explains es I guess not rallying

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Ben's policy will lead to wage deflation and commodity inflation which will lead to the Greatest Depression and Uprising Ever.
Who needs TA we got POMO
Jake3463
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He's going to be confirmed. He doesn't have a dead mistress or a live boy or a sexual harassment suit or a statement that involves race or religion or any of the other easy to understand scandals that gets you booted in Washington. 20-25 Senators will make some noise and JP Morgan and Goldman will call and tell the rest to get the F*** in line.
Mortgageguymn
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I'd oppose him just on grounds of his Blagojevich hair.
Mortgageguymn
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"He doesn't have ... a statement that involves race or religion or any of the other easy to understand scandals".

I'm pretty sure he once claimed to have "a black, a woman, two Jews and a cripple" on his staff. It was either him or James Watt, but I'm going with Jack Lew.
Andrew123
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If the Republicans had any brains or spine they would go on offense and impeach him over that lie.
Tyrathca667
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NorCal
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Another reason we don't want him, our fiat will bear his signature.

Quote:

Because as Kevin Roose at Daily Intel points out, the signature that might soon be gracing our paper currency looks like a "Slinky that has lost its spring."


http://www.newser.com/story/160700/comin....
Noodleman
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Jack Lew is an Obama waterboy, Boss. And that is the #1 qualification for an Obama appointee. To be a loyal waterboy who obeys instruction. And if the republicans are promised a bag of skittles here or another handout to one of their prized special interest groups, the republicans will give him whoever he wants. With the right packaged deal the republicans would confirm Dracula as the next Secretary of Defense. And don't think for a NYC minute they wouldn't.

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"Ammunition beats persuasion when you are looking for freedom." Will Rogers, 4 Nov 1879 - 15 Aug 1935

Marcustullius
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Ghandi -- the Repuglicans would confirm Ghandi as SecDef for the right payoff.

Drac, maybe for Health & Human Services...

Tully

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"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." (Samuel Adams)
Jstanley01
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So another snake in the den of vipers writhes to the top. *Yawn*

inline

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You can't cheat an honest man. ~P.T. Barnum
Etz
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Another thief appointed by the bankster-puppet-in-chief.

Quote:
Lew’s first job at the bank was chief operating officer of Citigroup’s wealth management unit, which flourished under his watch.

By the fall of 2007, the wealth management group handled $1.8 billion in client assets, up 34 percent from the year before, according to financial statements. More than 15,000 financial advisers and bankers worked under Lew.

In January 2008, he switched to Citigroup’s alternative investments unit. A press release announcing his new position as chief operating officer of the group said he would “oversee coordination between the operations, technology, human resources, legal, financial and regional departments.”

The memo stated that Lew also would be a member of Citigroup’s management committee, a group of senior executives who met regularly to discuss different parts of the bank’s business.
...

http://www.washingtonpost.com/business/e....


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Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora.

Xqqme
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Well, if you had any doubt that the housing crisis wasn't manufactured, an inside job, this should alay any ideas on the contrary. Obama isn't smart enough to keep the game going, but he's seething in his own vendetta enough to follow any orders that would punish the enemy.
Yazooflesh
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Why did Susan Rice withdraw her name from the Secretary of State nomination?

She must have had a whole lotta skeletons...

She was Yobama's protege', main thang, soul provider etc...

I bet she is*****ed that Barry so flippantly discarded her.

My guess is Barry whispered in her ear, "Susan, I've got bigger plans for you." smiley

Reason: Wrong forum
Bertdilbert
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Everybody was pizzed at Rice because she was the one that took the fall for saying Benghazi was due to the Muslim film. she took the hit for that even though Hillary was the one who breathed it first.

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Dear Euroland: Relax, Germany has a plan for your money!

Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
Asimov
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smiley

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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.

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