Obama Won’t Tolerate Wall Street Gifts, His Treasury Secretary Declares

Treasury Secretary Jack Lew on Tuesday warned Congress against attempting to slip financial deregulation efforts into must-pass year-end spending bills, saying he’d advise the president to veto the measures if they did.

In an interview with The Huffington Post, Lew said the Treasury Department is seeking to avoid a repeat of last year’s budget standoff, in which top negotiators nearly sparked a government shutdown by packing subsidies for risky Wall Street derivatives trading into a bipartisan budget deal.

“My recommendation to the president would be that if there are legislative measures that will roll back the clock, that would take us back towards where we were before the financial crisis, I would recommend a veto,” he added.

via Obama Won’t Tolerate Wall Street Gifts, His Treasury Secretary Declares.

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