Skip To Content
BuzzFeed News Home Reporting To You

Utilizamos cookies, próprios e de terceiros, que o reconhecem e identificam como um usuário único, para garantir a melhor experiência de navegação, personalizar conteúdo e anúncios, e melhorar o desempenho do nosso site e serviços. Esses Cookies nos permitem coletar alguns dados pessoais sobre você, como sua ID exclusiva atribuída ao seu dispositivo, endereço de IP, tipo de dispositivo e navegador, conteúdos visualizados ou outras ações realizadas usando nossos serviços, país e idioma selecionados, entre outros. Para saber mais sobre nossa política de cookies, acesse link.

Caso não concorde com o uso cookies dessa forma, você deverá ajustar as configurações de seu navegador ou deixar de acessar o nosso site e serviços. Ao continuar com a navegação em nosso site, você aceita o uso de cookies.

Jack Lew On His Cayman Islands Investment: "My Benefit Was Really Very Small"

Obama's Treasury Secretary nominee defends himself during his confirmation hearing.

Posted on February 13, 2013, at 12:37 p.m. ET

buzzfeed.com

President Obama's pick for Treasury Secretary, Jack Lew, faced his confirmation hearing this morning. He responded to questions about an investment he made in the Cayman Islands by saying his "benefit was really very small."

Lew had near $100,000 in assets in the Cayman Islands, a tax-free jurisdiction.

Lew explained that he was investing in a venture capital fund and said he didn't know the address of the partnership in the Cayman Islands.

Sen. Max Baucus (D-MT) pressed Lew, asking if he paid taxes on the money or earned anything from the deal.

"I lost money on the investment," Lew said. "In fact I lost money, which I didn't have a great deal of income."

Want to see more stories like this? Become a BuzzFeed News member.

ADVERTISEMENT