President Barack Obama is joking that Jack Lew's nomination as treasury secretary nearly fell through because of Lew's loopy signature.

Lew's nomination means a new signature will be added to the dollar bill. Lew's starts off with a soft "J" but is followed by seven loopy scribbles, making it difficult to read.

Obama said at the nomination ceremony that he never noticed the signature before, even though Lew is his chief of staff. But after looking at it, quote, "I considered rescinding my offer to appoint him."

Obama says Lew promises to work to make one letter legible, quote,"in order not to debase our currency."

The treasury secretary's signature is emblazoned on the lower right corner of U.S. bills of all denominations.