2013-01-09bloomberg.com

Citigov, the too-big-to-fail bank formally known as Citigroup Inc. (C), is close to getting one of its own in charge of the U.S. Treasury Department.

President Barack Obama may choose White House Chief of Staff Jack Lew to replace Treasury Secretary Timothy Geithner as soon as this week, Bloomberg News reported, citing unnamed people familiar with the matter. The president hasn't made a final decision to pick Lew, we're told, but the president's staff has been instructed to prepare for his nomination.

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Which leads to this question: Of all the people Obama could pick for Treasury secretary, couldn't he find someone who wasn't an executive at a systemically risky financial institution that took a taxpayer bailout from the Treasury Department?


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