U.S. President Barack Obama will appoint Jack - Lu (Jack Lew), its chief of staff for a newly appointed Finance Minister of the message, it caused the various media to give lessons on the replacement of the Geithner. Jack - Lu has many years of experience in budget management, served as budget director in the Clinton and the Obama administration twice. He also served as a Citibank executive positions, including chief operating officer of global wealth management. A year ago, Lu succeed Bill - Dai Licheng White House director of the Office for the Obama administration.
However, the experience of the U.S. media telling them do not buy it, the comments that his lack of financial background and is incompatible with the Republican Party. Bloomberg first disclosure of the message of Lu, the most comprehensive "from the bottom. Reported that Lu Obama the perfect aide ", total more than others think a few steps - allegedly, Obama won re-election that night, all the staff officers were hugging each other and drink a toast, only the Lu openings disappointed Road "Next turn to a financial cliff negotiations."
Bloomberg reports also pointed out that Lu's tougher attitude toward the issue of the federal budget has than Obama. Debt ceiling negotiations in 2011, when the Republican health care plan proposed to low-income people in the conference call included in the sub-branches column reduction, Lu directly into the phone a few days did not have a good rest and shouted: "That's impossible!" In the process of dialogue with the opposition, Lu is also accused of "love to point out each other's mistakes, rather than negotiations," Republican leaders eventually proposed to replace discuss object.
The CNBC reports also highlighted the difficulties faced Lu served as finance ministers more "neutral" role. Reported that the Republican Lu regarded as one-sided Democrats, and good communication Geithner differ materially. CNN reported, citing the Alabama senator plug Shen Si (Jeff Sessions), said Lu "outrageous speech two years ago, before the Senate Budget Committee, determined not to be the new Finance Minister," seen with Republicans the grudges's deep.
In addition, the 57-year-old Lu also think that the lack of experience in the field of business and international financial The Bloomberg article said, and his predecessor, Lu did not help to solve the debt crisis in Europe and the Sino-US trade relations background. The Truman Show (Ted Truman), Peterson Institute for International Economics, told Bloomberg that Lu "to European leaders take to introduce ourselves". In its decades of his career, Lu had only briefly as a Citibank senior positions in American business, "the stranger" is also regarded as another short board. "American business is not know him very well," CEO of the U.S. Los insurance Dixi (Jim Tisch). "Based on the current level of corporate tax, the boss might not like him."
"Huffington Post" review article pointed out that Lu Ruocheng Treasurer, means that the Obama administration will weaken in the second term to continue the implementation of the financial reform plan. The article pointed out that, in addition to the United States is facing debt ceiling negotiations, the Treasury Secretary's responsibilities also include the management of the financial sector, in order to prevent another financial crisis is making the same mistakes, while Lu is the apparent lack of qualification.
The article quoted Greenberg, Professor of Law at the University of Maryland (Mike Greenberger), said Lu "very smart, fair, but not a market expert." Greenberg believes that too much hustle and bustle of the discussions about the budget, let people forget the financial the importance of reform. In addition, Lu attitude of financial regulation may also indicate that it does not take advantage of the identity of the finance ministers and Wall Street rivalry - he had said at a Senate hearing in 2010, the "deregulation" in the financial sector is not a financial crisis the fuse.
Nevertheless, there are still many observers even behind Lu is its ability to make a positive. "He has been the performance of the whole A", "Wall Street Journal" quoted Lu as saying former colleagues. After all, he has twice served as budget director, to the current view of the difficulties faced by the federal government, who else can better prepared?
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