Bonus, budgets on agenda as Obama's Treasury pick faces US Senate grilling
WASHINGTON (REUTERS) - Mr Jack Lew, President Barack Obama's nominee to lead the US Treasury Department, faces a grilling about a big bonus he received from Citigroup and his plans for the government's finances when he testifies before a Senate panel on Wednesday.
Mr Lew, a 57-year-old New Yorker who is White House chief of staff, is a budget wonk who would rather avoid television cameras, Mr Obama has said.
But he will be in the spotlight on Wednesday over his own finances, namely a US$940,000 bonus (S$1.16million) he received in January 2009 after a brief stint at Citigroup, just before the bank received a taxpayer-funded bailout.
Republicans on the Senate Finance Committee, which will vet Lew for Treasury secretary, also plan to ask him about his role at the Wall Street bank, especially as chief operating officer of Citi Alternative Investments.