Simon Johnson: Obama's Treasury Pick 'Making Financial Reformers Nervous'

Simon Johnson: Obama's Treasury Pick 'Making Financial Reformers Nervous'
WASHINGTON - JULY 17: In this handout image supplied by the International Monetary Fund (IMF). International Monetary Fund's Economic Counsellor and Director of the Research Department Simon Johnson (R) and Deputy Director Charles Collyns (L) hold a press briefing on the release of the IMF's World Economic Outlook at the IMF Headquarters July 17, 2008 in Washington, DC. The IMF raised its growth forecasts slightly but stated the chance for a global recession. (Photo by Stephen Jaffe/IMF via Getty Images)
WASHINGTON - JULY 17: In this handout image supplied by the International Monetary Fund (IMF). International Monetary Fund's Economic Counsellor and Director of the Research Department Simon Johnson (R) and Deputy Director Charles Collyns (L) hold a press briefing on the release of the IMF's World Economic Outlook at the IMF Headquarters July 17, 2008 in Washington, DC. The IMF raised its growth forecasts slightly but stated the chance for a global recession. (Photo by Stephen Jaffe/IMF via Getty Images)

Jacob J. Lew, the president’s nominee for Treasury secretary, and Mary Jo White, the nominee for chairwoman of the Securities and Exchange Commission, are making financial reformers nervous. The issue is not so much their track record, because neither has worked directly on financial-sector policy issues; it is much more about whom they know.

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