Jeffrey Zients will serve as President Obama's new acting director of the Office of Management and Budget (OMB), but the president's decision might undercut attacks on Republican Mitt Romney's career as a venture capitalist, because Zients and Romney are both alumni of Bain Capital.
"I'm pleased to designate Jeff Zients to lead the Office of Management and Budget.
Since day one, Jeff has demonstrated superb judgment and has provided sound advice on a whole host of issues," Obama said in a statement accompanying the announcement today. Zients previously served as Deputy Director of OMB under Jack Lew, who became Obama's chief of staff with the departure of Bill Daley.
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