Warren’s grounds for objecting to Weiss were straightforward: his experience was no fit for the requirements of his proposed Treasury role. On top of that, he had been involved in and therefore profited from acquisitions called inversions that Treasury opposes because they reduce the taxes paid by the acquirer, which uses the acquired company to move its headquarters to a lower-tax jurisdiction.

Today (1/12/15) Weiss withdrew as a candidate for the Treasury position...

...

Having someone with that background as a well placed insider made it abundantly clear how serious the Administration was about cleaning up crisis-related abuses. Having Antonio Weiss, even in a lesser role at Treasury, will, as it did with Lee Sachs, inhibit any investigation into areas that relate to the work he did at Lazard. That’s a feature, not a bug. Having Antonio Weiss in Treasury in any capacity sends a powerful signal that Obama remains deeply committed to advancing the pet needs of major financial firms.

http://www.nakedcapitalism.com/2015/01/elizabeth-warren-takes-scalp-antonio-weiss-withdraws-nomination-3-position-treasury.html