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But while the bulk of his experience is in Washington, Lew also worked on Wall Street as managing director and chief operating officer of Citi Global Wealth Management and then Citi Alternative Investments. At the start of the Obama administration, he oversaw international economic issues at the State Department.
Despite his stint on Wall Street, Lew doesn’t have the type of financial experience that Geithner brought to the job at the height of the financial crisis in 2009. Indeed, there’s not as much of a premium on those skills now as the nation’s attention has turned from bank bailouts to fiscal confrontations and brinkmanship.
"The basic financial position and economic position of the country is much stronger today that it was four years ago," said Michael Barr, who was assistant treasury secretary for financial institutions in 2009 and 2010. "That’s a significant advantage for a treasury secretary coming in."
Associated Press writers Julie Pace and Martin Crutsinger contributed to this report.
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