MSNBC: William Daley resigning as Chief of Staff

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53. Jumped to negative assumptions?

"[Lew] oversaw a Citigroup unit that profited off the housing collapse and financial crisis by investing in a hedge fund king who correctly predicted the eventual subprime meltdown and now finds himself involved in the center of the U.S. government’s fraud case against Goldman Sachs. . . .

t is his few years at Citi — in particular the one year he spent at its then-$54 billion proprietary trading, hedge fund and private equity unit — that’s likely to raise the most eyebrows in the coming weeks as Lew faces a Senate confirmation hearing.

Especially his unit’s investments in a hedge fund that bet on the housing market to collapse — a reality suffered by millions of American homeowners."

http://www.huffingtonpost.com/2010/07/14/jack-lew-obamas-omb-pick_n_645093.html


This is not an assumption: this man shorted the housing market for a criminal bank.