Tags: Wall | Street | unimpressed | Lew

Fortune: Wall Street Unimpressed with Lew as Potential Treasury Secretary

Tuesday, 27 Nov 2012 11:07 AM

By Dan Weil

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Wall Street doesn’t think too highly of Jack Lew, who is thought to be the first choice of President Barack Obama to replace Tim Geithner as Treasury Secretary next year, according to Fortune.

"I've talked to a bunch of investors, and it's seen as a net negative going from Geithner to Lew," Chris Krueger, senior political analyst at Guggenheim Partners, tells the publication. "Who does Wall Street want? Not Jack Lew."

Rather than focusing on the three years Lew spent as an executive at Citigroup, Wall Streeters are looking at the fact that Lew has served in government for much of his career.

Editor's Note: Economist Warns: ‘Money From Heaven a Path to Hell.’ See Evidence.

He worked as White House budget director under both President Bill Clinton and Obama. Lew is currently Obama’s chief of staff.

Wall Street would prefer one of its own — BlackRock CEO Larry Fink — or it would like Erskine Bowles, a former aide to Clinton who gained strong credibility through the Simpson-Bowles deficit reduction commission, according to Fortune.

Legendary investor Warren Buffett would like to see JPMorgan Chase CEO Jamie Dimon as Treasury secretary.

“If we did run into problems in markets, I think he would actually be the best person you could have in the job,” the Berkshire Hathaway CEO tells PBS. “World leaders would have confidence in him.”

Editor's Note: Economist Warns: ‘Money From Heaven a Path to Hell.’ See Evidence.

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