Obama’s pick for treasury secretary grilled on NYU loan
By GEOFF EARLE in Washington and JAMES COVERT in NY
Last Updated: 3:26 AM, February 19, 2013
Posted: 2:24 AM, February 19, 2013
Jack Lew, President Obama’s pick to run the Treasury Department, is being pressed by Senate probers to reveal details of a $1.4 million personal loan he got from New York University when he was a top exec at the school, The Post has learned.
NYU listed the loan on its tax filings, which showed the outstanding balance dropping to $673,000 by 2005, his final year at the university.
As The Post revealed last week, Lew has come under fire in the Senate for leading NYU at a time when it was accused of steering student loans to “preferred lenders,” including Citigroup, in exchange for “kickbacks.”
NYU settled with the state attorney general in 2007 and paid a fine without admitting wrongdoing.
Lew left NYU to become an exec at Citigroup — a tenure that has also drawn criticism because he got nearly $1 million in compensation in 2008 around the time the bank got a taxpayer bailout.