Jerry Seib Weighs in on Lew Questioning

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Our first guest says the concerns over Jack whose qualifications and personal investments in came in -- daddy daddy out.

She actually pose an obstacle to his confirmation as Treasury Secretary.

Joining us now -- journal's Washington bureau chief Jerry sat Jerry I'm glad to hear -- -- seems every time we do a confirmation hearing.

We nitpick and find all these little things that mean.

-- I was -- put on the stand they would tell me that all my years of up when it hears prayer killing eurozone so.

Are we just picking on him.

Well of course that's what happens in confirmation hearings the question is the right one that that you posed at the outset which.

Is it enough to stop his confirmation hearings I don't think so I mean.

Look the question about the Cayman Islands investment -- -- we made a few years ago quarter awkward because Democrats have always talked about those sorts of things as tax scams.

But I don't think that's enough to stop the show it's interesting that you know exactly was nominated one of the arguments against the nomination was that he didn't have enough experience on Wall Street to be Treasury Secretary well.

Ironically the most of the difficult questions right now have to do with those three years he spent at Citigroup up in New York on Wall Street.

But I don't think -- show stoppers I think these are kind of warning shots for Republicans one of the things Jack -- benefits from right now is the fact that most Republican fire on nominations is being directed at Chuck Hagel.

The Obama picked to be Defense Secretary.

Other people are getting a little bit more of -- past as a result of that.

Yeah I guess Jack happy about that but Orrin -- especially in the news based -- it get -- depends -- got some questions you're gonna answer these.

And jacket yeah I think I think -- comes up pretty well is that I -- -- behind on any of this stuff.

Know exactly what -- what his his argument on that.

-- eye on the -- was pretty simply have I didn't even know is in the Cayman Islands I became an -- I just there was a hedge fund night they invested some money it.

On the broader question of Citigroup as one of the big banks that got into trouble and -- needed a taxpayer bailout.

The Jack -- response is I was COO of a couple of units operating officer not financial officer I didn't have.

Say an investment decisions.

So it -- you if you don't look for somebody to to talk about why the banks get into trouble.

I'm not the right guy I was interested in how to organize the bank not how to run the bank.

The -- about last night what did you think I mean he ran the gamut from investing in manufacturing to preschool for every one.

Is any of it gonna go go anywhere.

Well you know some of the well not although well some of those recycle I thought the most interesting thing was that -- -- about this in the journal today I think get away it was kind of like.

Activist government on a diet you know there were there was a lot of rhetoric about government.

Activism in various areas including things to spur the manufacturing sector ways to improve education.

-- to -- infrastructure and improve infrastructure around the country.

But if you look behind those words there's not a lot of money there because there's not a lot of money to spend the president does not have a blank check or anything approaching that right now and so.

A lot of the money that he proposes to spend on these things is shuffled around from other -- including defense accounts some of his money he's asked for before and never gotten.

And some of it is -- leaning on the private sector or the states to help pay for these things so.

There is more government mechanism in words and there really wasn't dollar signs I think.

I think what -- the most poignant moments though was when he talks about -- -- time went through a litany of people and said they deserve a vote do you think gun control will go anywhere.

You don't I think that there is -- consensus forming around doing a better job having a better law that governs background checks the people who buy guns.

I don't think there's a consensus forming around the other big issue which is an assault weapons ban.

That's not going over well with even some Democrats including Harry Reid the democratic leader in the senate.

Whether there will be a vote as the president asked for last night on that -- are or not I don't really know I don't think it's gonna pass I think some other gun control measures of lesser measures -- in particular including background checks do have a good shot of getting through this time.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Have to -- with you.

Know.

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Jerry Seib Weighs in on Lew Questioning

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