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Democrats assail Wall Street ties in Obama administration


Democrats assail Wall Street ties in Obama administration

By Peter Schroeder – 11/30/14 02:31 PM EST

President Obama’s nomination of Antonio Weiss to serve as the Treasury Department’s top domestic finance official is drawing fire from an unusual sector: his fellow Democrats.

Liberal lawmakers like Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) have been quick to oppose Weiss, a major investment banker with Lazard.

Among their grievances is the fact that Lazard’s work is primarily in international finance and he is nominated for a domestic position. They’re also critical of his role in structuring several tax inversion deals, which have drawn criticism from the president himself.But an underlying thread to the Democratic opposition is a fatigue with filling top-ranking administration spots with officials that have spent significant time working for or on behalf of Wall Street titans. Warren penned an op-ed in The Huffington Post criticizing the administration’s approach under the headline “Enough is Enough.”

One thought on “Democrats assail Wall Street ties in Obama administration

  1. What is the big deal wall street to Washington and back again, has been going on for years. Maybe it is time to pile on this man for all our ills.

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