Grassley criticizes Treasury Secretary nominee - KWWL - Eastern Iowa Breaking News, Weather, Closings

Grassley criticizes Treasury Secretary nominee Jack Lew


U.S. Sen. Chuck Grassley (R-IA) had some criticism for President Obama's Treasury Secretary nominee Jack Lew on Tuesday.

The Senate Finance Committee approved his nomination Tuesday, but Grassley voted against Lew.

Grassley criticized Lew for taking a $900,000 bonus while taxpayers were bailing out the bank.

"The amount was first reported in the New York Times, which called it, 'unusual.' This must be further examined," Grassley said. "It's a shame that Mr. Lew failed to understand these details as part of his confirmation process, leaving us to rely on the press to dig out the details. Mr Lew's eagerness and skill in obtaining bonuses, severance payments, and perks raises questions about whether he appreciates who pays the bill."

The 57-year-old Lew was the President's Chief of Staff for about a year.

Lew was nominated in January to succeed Treasury Secretary Tim Geithner.

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