Sen. Charles Grassley: Jack Lew Testimony 'Distressing'

Sen. Charles Grassley: Jack Lew Testimony 'Distressing'

Sen. Charles Grassley (R-IA) says President Obama’s Treasury Secretary nominee Jack Lew has been less than forthcoming throughout his confirmation.

“Mr. Lew has a lack of knowledge or a poor memory of some of the perks he received through his tenure at New York University and Citigroup,” said Grassley in a statement. “His lack of recall is distressing.”

Lew said he could not remember the details surrounding the $1.4 million housing assistance loan he received from New York University as part of his compensation package while serving as the school’s vice president of operations, even as student tuition skyrocketed 40% during his tenure.

“Mr. Lew’s boss, the President, continually expresses concern about college affordability, so it’s important to know whether Mr. Lew enjoyed financial perks as a university executive even as students weathered tuition increases and debt,” said Grassley. “Universities are tax exempt to fulfill their mission of educating students, and executive compensation is part of the picture toward understanding how well universities fulfill their mission.”

Grassley asked Committee Chairman Sen. Max Baucus to delay a vote on the Lew nomination until he provided detailed answers.  But Baucus’s spokesperson rebuffed the request, saying “the confirmation process continues to move forward.” 


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