mr. geiger come from and the person he is succeeding, they are rotating in and out of the private banks. i am not sure where mr. lew is from. do you know where he is out of? host: he served some time at citigroup and working for them. he had a significant bonus before he joined the government had entered the state department before moving to his position. caller: my concern is this revolving door. it was portrayed very well in the academy award winning documentary "inside job." it investigated the crash that we had in 2008 and 2009 and how these guys go from these big wall street banks write into government and right into education, too. i recommend all of the listeners take a look. the guy won the academy award for best documentary. instead of saying thank you to the academy, the first thing he said was, i want to tell everybody that not one of these bankers is in jail. host: what is your concern about having experience on wall street and coming into a government position? caller: i think it is a transfer of wealth. one of the callers mentioned he did a really good job. you asked a good

>> ladies and gentlemen, the president of the united states, accompanied by secretary timothy geiger and mr. jacob lew. >> good afternoon, everybody. please have a seat. a little more than four years ago, i stood with mr. tim geithner and denounced him as my first nominee to my cabinet. we were barely two months into the financial crisis. the stock market had greater and the housing market had cratered as well. bank after bank was on the verge of collapse. worst of all, more than 800,000 americans would lose their jobs in just that month. and the bottom was not yet in sight. i could not blamed him when he tried to tell me he was not the right guy for the job. [applause] but i knew that his extensive experience with economic policy made him qualified. i knew he could hit the ground running. he had just spent several sleepless and chaotic weeks emerged in the crisis and had been working closely with his republican predecessor to save the financial sector. then with the wreckage of our economy still smoldering and unstable, i asked him to help me put it back together. thanks in large part to h