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Secretary of Treasury: Jack Lew Nominated by President

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President Obama nominated White House Chief of Staff Jack Lew for secretary of Treasury. Mr. Lew previously served as White House budget director during the Clinton administration. He not considered a wall street insider.

"It's really working out for me to have him here in the White House, but my loss will be the nation's gain," Obama said.

Other recent nominations include Sen. John Kerry (D-MA) for Secretary of State and former Sen. Chuck Hagel (R-N8) for Secretary of Defense.
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