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Tag: Treasury Department


osipovva (CC BY 2.0)

Truthdigger of the Week: Andrew Cockburn

In reporting on decades of U.S. sanctions against Iran, Harper’s Magazine’s Washington editor fully uncovers a mass destruction and murder scheme on a Napoleonic scale.

Posted on Sep 15, 2013 READ MORE



Shutterstock image of virtual currency.

Prosecutors Use Patriot Act to Shut Down Virtual Currency Operator

Liberty Reserve, which, until Tuesday, operated a virtual currency that could be exchanged for cash, stands accused by the United States of laundering $6 billion in criminal funds.

Posted on May 28, 2013 READ MORE



Rand Paul Gives Money to Treasury, McCain Gets Heckled at Town Hall, and More

A look at the day’s political happenings, including a prominent Republican’s endorsement of same-sex marriage and the fight over the looming sequester heats up on Twitter.

Posted on Feb 22, 2013 READ MORE



White House / Pete Souza

Obama Is Right on the Debt Ceiling

According to the Obama administration, there is nothing the president can do on his own to raise the ceiling or maneuver around it. As much as some of us may disagree, Obama is correct. Here’s why.

Posted on Jan 13, 2013 READ MORE



Colin Powell Talks GOP Racism, Paul Krugman Blasts Jon Stewart, and More

A look at the day’s political happenings, including the Treasury Department’s decision about minting a trillion dollar coin and another George Bush mulls a bid for public office.

Posted on Jan 13, 2013 READ MORE



White House/Pete Souza

The Inconvenient Truth About Jack Lew

I suppose that he can’t be much worse than Timothy Geithner, but that should be scant cause for cheer over the news that the president has nominated Jack Lew as Treasury secretary.

Posted on Jan 11, 2013 READ MORE



Flickr / epicharmus

Why Bailouts Will Continue Until the Big Banks Are Broken Up

TARP—the infamous Troubled Assets Relief Program that bailed out Wall Street in 2008—is over. The Treasury Department announced it will be completing the sale of the remaining shares it owns of the banks and of General Motors. But in reality it’s not over.

Posted on Jan 8, 2013 READ MORE



Flickr/401(K) 2012

How Bad Is Our Debt Problem and Will a Deal Fix It?

President Obama met with congressional leaders Friday in another attempt to avert the fiscal cliff—the automatic tax increases and spending cuts set to take effect Jan. 1 unless Congress can strike a deal. The cuts and tax hikes are so large and so sudden that many economists fear they would plunge the country back into recession.

Posted on Dec 30, 2012 READ MORE



GOP Pollster Rips the NRA, a ‘Meet the Press’ Police Investigation, and More

A look at the day’s political happenings, including a new warning on the debt ceiling from Timothy Geithner and why it’s probably not the most wonderful time of the year for President Obama and Congress.

Posted on Dec 26, 2012 READ MORE



AP/Mark Lennihan

A Sign That Obama Will Repeat Economic Mistakes

Reports in the business press tout a prime participant in the great banking hustle as a possible candidate to be the next Treasury secretary.

Posted on Dec 7, 2012 READ MORE



AP/Scott Applewhite

Truthdigger of the Week: Ex-TARP Investigator Neil Barofsky

In late 2008, Neil Barofsky was appointed the Treasury Department’s investigator of the bank bailouts. In the time since, he has suffered dismissal and deprecation from his colleagues and the corporations they’re supposed to regulate.

Posted on Aug 4, 2012 READ MORE



AP / Charles Dharapak

Geithner Eyes the Exit

If you saw the broadcast of Tuesday’s State of the Union address, you might have caught Treasury Secretary Timothy Geithner looking a little uneasy on his perch next to a solemn Secretary of State Hillary Clinton, which could have something to do with the state of his position at the White House.

Posted on Jan 25, 2012 READ MORE



Flickr / Pink Sherbet Photography

Video Game Companies Cash In on Tax Tokens

American video game developers are benefiting from an odd combination of tax breaks many analysts say are intended to encourage industries that serve the public good by providing broadly valuable social services. (more)

Posted on Sep 11, 2011 READ MORE


Benjamins
Wikimedia Commons/Revisorweb

U.S. Budget Deficit Climbs to Over $1 Trillion

America’s spend-a-thon has brought some inevitable consequences, not the least being that we now are looking at a federal budget deficit of more than $1 trillion for the first time ever, and that number is projected to nearly double by October.

Posted on Jul 13, 2009 READ MORE


Dodd
hoinews.com

Dodd Takes a Hit for AIG Bonus Blunder

When word got out that Sen. Chris Dodd was responsible for loosening the restrictions on executive bonuses while drafting the stimulus bill, his constituents were apparently listening, as the Democrat’s approval rating in his home state of Connecticut has hit an all-time low. Now he could be in danger of losing his Senate seat in 2010.

Posted on Apr 2, 2009 READ MORE


Bernanke
topnews.in

Bernanke: We Won’t Bounce Back in 2009

While he was able to give the banking business a little lift on Tuesday, Federal Reserve Chairman Ben Bernanke also delivered the sobering news that the economy as a whole isn’t likely to make big gains in terms of recovery before 2010 or later.

Posted on Feb 24, 2009 READ MORE


Obama

Obama: Let’s Get to Work

In his weekly address, President Barack Obama hailed the stimulus bill he recently signed, the American Recovery and Reinvestment Act, as “the most sweeping economic recovery plan in history.” Here’s what he had to say to back up this big claim.

Posted on Feb 21, 2009 READ MORE


Robber Barons
icsd.k12.ny.us

A Non-Rising Tide Lifts No Boats

The rationale of the TARP bailout’s “capital-injection program”—providing banks with capital that will increase loans to consumers and businesses—has apparently been forgotten by the 20 largest banks that received TARP money. A Treasury Department survey has found that lending in the last quarter of 2008 was stagnant, or even slightly declined, despite $250 billion in capital-injection funds.

Posted on Feb 18, 2009 READ MORE


Paulson and Lockhart
AP photo / Susan Walsh

Fannie and Freddie’s Double Whammy

With a stunningly vicious pair of blows, the faltering world economy—the Godzilla of this year’s presidential race—has made the candidates look small. Why hasn’t this looming crisis been part of the presidential debate?

Posted on Sep 9, 2008 READ MORE


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