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  • New Chief of Staff: Former Hedge Fund Exec. at Citigroup, Made Money Off Mortgage Defaults

    01/09/2012 6:39:37 PM PST · by Nachum · 5 replies
    Weekly Standard ^ | 1/9/12 | Daniel Halpe
    President Obama's first chief of staff Rahm Emanuel once sat on the board of troubled federal mortgage giant Freddie Mac. Bill Daley, the president's chief of staff whose departure was announced today, was previously a top executive at financial firm J.P. Morgan Chase & Co. So of course there should be little surprise that Obama's latest chief of staff, announced today by the president himself, also has deep ties to the financial industry himself. From 2006-2008, Jack Lew was chief operating officer of Citibank's alternative investments division (snip)that made billions of dollars betting "U.S. homeowners would not be able