President Obama’s pick for treasury secretary faced questions over his Wall Street past at a Senate confirmation hearing Wednesday. Jack Lew defended the bonus of nearly a million dollars he received while working at Citigroup just a few months after the bank got a taxpayer bailout worth billions. He was also questioned about his investment of tens of thousands of dollars in a Citigroup fund listed at a building in the Cayman Islands that Obama himself has referred to as “the largest tax scam in the world.” While at Citigroup, Jack Lew oversaw a unit that reportedly profited off the housing crisis by investing in a hedge fund which bet in favor of the collapse. Among those to question Jack Lew was Republican Senator Orrin Hatch of Utah.
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