Jacob Lew story updated to include comment from friend and former colleague Robert Litan.
NEW YORK ( TheStreet) -- President Obama has named budget director Jacob "Jack" Lew as his third straight chief of staff who has spent time on Wall Street.
Like his two predecessors, William Daley, who spent several years at JPMorgan Chase (JPM) and Rahm Emmanuel, who worked as an investment banker at Wasserstein Perella, Lew has dedicated more of his career to government service than he has to Wall Street. Still, a brief stint at Citigroup (C) drew criticism since Lew received $900,000 after the 2008 bailout of the giant bank.
|Incoming White House Chief of Staff Jacob Lew|
President Obama "couldn't pick anybody in my view that has got more respect from both sides of the aisle, even in this very fractured political environment," says economist Robert Litan, a friend of Lew's and former colleague at the Office of Management and Budget during the Clinton Administration."It's hard to put him in the same category as Emmanuel or Daley, who were hired
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