Elizabeth Warren wins on Antonio Weiss nomination Antonio Weiss pulls out of Treasury slot

[kpete]

Elizabeth Warren wins on Antonio Weiss nomination
Antonio Weiss pulls out of Treasury slot; will instead serve as counselor.
By BEN WHITE 1/12/15 5:00 PM EST Updated 1/13/15 6:21 AM EST
NEW YORK — Antonio Weiss, the Wall Street banker who President Barack Obama had picked to be the third-ranking official at the Treasury Department, has asked that the president not resend his nomination to the Senate following a major backlash from progressive Democrats who questioned his ties to the financial industry, POLITICO has learned.

Obama accepted the decision, which Weiss conveyed in a letter to the president over the weekend. But the Lazard banker will still join the administration in the position of counselor to Treasury Secretary Jack Lew, which does not require Senate confirmation.


Obama last year nominated Weiss, a widely admired banker with decades of experience in the industry, to the position of Under Secretary for Domestic Finance. He would have been responsible for helping managing the nation’s $18 trillion debt portfolio as well communicating with Congress over budget and other issues.
But Sen. Elizabeth Warren (D-Mass.), who came out strongly against the nomination, along with some others progressive Democrats, said that Weiss did not have enough regulatory experience and would be too deferential to the finance industry.



http://www.politico.com/story/2015/01/antonio-weiss-pulls-out-treasury-undersecretary-114191.html
Read more: http://www.politico.com/story/2015/01/antonio-weiss-pulls-out-treasury-undersecretary-114191.html#ixzz3Oi9Kw900

[Thinkingabout]

1. Wins, perhaps he is not going to go throught the confirmation process but still working for the

administration and this position is not going to be filled.

[Triana]

2. I dislike the catch...

Investment banker Antonio Weiss has withdrawn his nomination to a senior Treasury Department post, in a major victory for Massachusetts Sen. Elizabeth Warren, who led the charge against Weiss’ nomination, Politico reported Monday. However, Weiss will join the Treasury Department as a counselor to Secretary Jacob Lew.

SOURCE: http://www.salon.com/2015/01/12/elizabeth_warrens_big_victory_investment_banker_withdraws_treasury_nomination_but_theres_a_catch/