GRASSLEY: LEW DIDN'T PROVIDE ENOUGH DETAIL ON NYU, CITI PERKS

     (The following statement from the Office of U.S. Senator Chuck Grassley 
was received by e-mail and was reformatted. The sender verified the statement.) 
Treasury Secretary nominee Jack Lew responded to all of the Finance Committee 
senators' questions for the record this afternoon.  Sen. Grassley's portion is 
attached.  Here's a comment from Sen. Grassley: 
"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.  Most people 
who receive a $1.4 million loan from their employer remember the terms.  I was 
surprised Mr. Lew was unable to recall them.  His lack of recall is 
distressing, considering how much debt New York University students take on and 
how much they pay in tuition.  I asked him for a full explanation of the terms 
of the loan and relevant documents.  He did not provide adequate detail or the 
documents.  I'm conveying to the Finance Committee chairman that the level of 
detail Mr. Lew has provided so far about the loan is unsatisfactory, and I'm 
requesting more detail before the committee is asked to vote on the nomination. 
 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.  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." 
(kgt)NY 
 
 
Press spacebar to pause and continue. Press esc to stop.