Tuesday, 23 September 2014
Last updated 10 hours ago
Nov 19 2010 | 6:38am ET
A former Citi Alternative Investments executive is the new head of the Office of Management and Budget.
Jacob Lew was confirmed last night by the U.S. Senate, more than four months after he was nominated to the post by President Barack Obama. Sen. Mary Landrieu (D-La.) had blocked Lew’s confirmation to protest Obama’s ban on offshore oil drilling, which the administration lifted last month.
Lew was chief operating officer at Citi AI from 2006 through 2009. It will be his second stint as director of OMB—he served in the post under former President Bill Clinton from 1998 through 2001. Since President Barack Obama took office, he has served as deputy secretary for management and resources at the State Dept.
“After years of irresponsibility in Washington, we need to make the tough choices to put our country back on a sustainable fiscal path and lay the foundation for long-term job creation and economic growth,” the president said. “I am confident Jack Lew can lead up in these efforts.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.