Lew: Avoid 'self-inflicted wounds' on budget

Treasury secretary nominee Jack Lew told Congress on Wednesday that he oversaw the operations of a Citigroup unit that sustained big losses during the 2008 financial crisis but bore no responsibility for its sour investments.

Lew’s tenure at Citigroup and his unprofitable investment in a Cayman Islands venture capital drew the most pointed questions from Republicans on the Senate Finance Committee at a confirmation hearing that was generally uncontentious and punctuated by praise for Lew’s decades of government service.

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