Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Competing narratives in Malaysia Airlines disaster coverage

Read more

AFRICA NEWS

Kenya : Police arrest 8 over Mombasa rampage

Read more

FOCUS

Overfishing and the global appetite for bluefin tuna: can Tokyo turn the tide?

Read more

MEDIAWATCH

Too many graphic images from Gaza ?

Read more

FASHION

Who's next in Paris, an event with international ready-to-wear and fashion accessories collections

Read more

ENCORE!

Tunisia's Carthage International Festival turns 50

Read more

THE OBSERVERS

Muslims and Christians clean up Bangui, and violence spirals out of control in Algeria's Gardaia

Read more

IN THE PAPERS

Is there such thing as 'telegenic' victims of war?

Read more

IN THE PAPERS

2014-07-22 07:21 IN THE FRENCH PRESS

Read more

  • Israel hits targets in Gaza despite diplomatic efforts for ceasefire

    Read more

  • Flight MH17 shot down ‘by mistake,' US intelligence indicates

    Read more

  • Defying UK, France to proceed with sale of warship to Russia

    Read more

  • Conflicting rulings by two US courts cast shadow on future of Obamacare

    Read more

  • Video: Lebanon fears fallout from regional turmoil

    Read more

  • Widodo wins Indonesian presidential election

    Read more

  • US, European airlines suspend flights to Tel Aviv over Israel-Gaza conflict

    Read more

  • Australian veteran Rogers claims 16th stage of Tour de France

    Read more

  • France gives go-ahead to pro-Palestinian Paris rally

    Read more

  • French Jews mourn French-Israeli soldier killed in Gaza

    Read more

  • PSG punished by UEFA for abuse of disabled Chelsea fans

    Read more

  • Colombia's Rodriguez signs '€80m' contract with Real Madrid

    Read more

  • Children killed in minibus crash in eastern France

    Read more

  • A call for harmony in riot-hit ‘Little Jerusalem’ Paris suburb

    Read more

Americas

Obama nominates Jack Lew to serve as Treasury chief

Text by News Wires

Latest update : 2013-01-10

US President Barack Obama has nominated his chief of staff, Jack Lew (left), to serve as secretary of the Treasury when Timothy Geithner leaves the post later this month. Lew's nomination must be confirmed by the Senate.

Jack Lew's two previous stints as White House budget director and his reputation as a skilled deal-maker will be put to the test now that President Barack Obama has nominated him to be Treasury secretary.

With Republicans gearing up for a showdown with the White House over the country's massive debt, Lew has been picked to replace the pugnacious Timothy Geithner, who steered the Obama administration through the financial crisis.

The nomination requires Senate confirmation.

Currently White House chief-of-staff, Lew, 57, is a veteran of the treacherous politics of Washington, and is seen as having a keen understanding of domestic and international economics.

Plus, he has already been deeply involved in budget fights between the White House and Congressional Republicans, as Director of the Office of Management and Budget (OMB) and, since last year, Obama's chief of staff.

A Harvard graduate, Lew has spent his entire professional life in the US capital since 1979, except for an eight-year span during the Republican presidency of George W. Bush.

He started out as a policy adviser to the Democratic speaker of the US House of Representatives, Thomas "Tip" O'Neill. During that period, Lew also earned a law degree from Georgetown University.

He joined a large Washington law firm when O'Neill retired in 1987 and in 1993 was recruited into the White House of Democratic president Bill Clinton, where he was eventually posted to the OMB.

In 1998 he was named director of the OMB, where he helped to manage tough negotiations with a hostile Republican Congress and achieved four consecutive years of budget surpluses, the first since 1960.

When Bush became president in 2001, Lew moved back to his native New York City, where he joined the management team of New York University.

In 2007-2008 he moved to Citigroup, where he notably headed a speculative fund and reaped an annual salary that topped $1 million.

Before returning to the OMB in 2010, he served as deputy secretary for management and resources under Secretary of State Hillary Clinton.

Lew, an Orthodox Jew, grew up in New York City and is a married father of two adult children.

Tall, with a thatch of black hair just starting to gray and wire-rimmed glasses, he is accessible and an attentive listener but rarely strays from his serious demeanor, according to several people who have worked with him.

He has always been low-key in public. According to a recent profile of him in The New York Times, he brings his own lunch to work -- a cheese sandwich and an apple -- and eats at his desk.

Before catching the political bug and ending up in government, Lew sported long hair and ripped jeans and wanted to crusade against world injustice as a journalist, the Washington Post recalled.

During his confirmation hearing for the State Department post in January 2009, the late senator Ted Kennedy heaped praise on Lew.

"I found him always to be thoughtful, open and innovative in assessing new ways for improving the lives of Americans," Kennedy said.

"Whether the issue was new investment in education, aid to sub-Saharan Africa or assistance to distressed fishermen in Massachusetts, Jack's door was always open."

(AFP)

 

Date created : 2013-01-10

  • USA

    Geithner faces grilling over response to rate fixing

    Read more

  • DEBT CRISIS

    US Treasury Secretary backs euro on Paris trip

    Read more

  • ECONOMY

    Geithner urges eurozone to leverage bailout fund

    Read more

COMMENT(S)