“There was a time when you had to be successful on Wall Street to become secretary of the Treasury. Now along comes presidential nominee Jack Lew, whose only business credential is a stint at the most troubled too-big-to-fail bank. During the darkest days of the financial crisis Mr. Lew served as the chief operating officer of Citigroup‘s Alternative Investments unit (CAI). CAI no longer exists. At the end of Mr. Lew’s first quarter on the job, the unit reported a $358 million loss. Things got much worse after that but Citi stopped breaking out CAI results in its earnings releases. The unit was eventually shuttered and many of its assets were sold.”
http://online.wsj.com/article/SB10001424127887324734904578243932620870510.html
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