Keyword: treasury

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  • TRUMP'S PICK FOR TREASURY AND COMMERCE DEPT.IS BRILLIANT!

    11/30/2016 5:55:06 PM PST · by windhover · 22 replies
    Vanity | Windhover
    Trump continues to validate our best instincts about the man, and our greatest hopes. Not only does he know how to keep his friends close and his enemies closer, but he knows how and who to pick in a way to utterly confound and bewilder the liberals and Demo-gogs. Both Mnuchin, exec at Goldman - Sachs to Treasury and Ross, finance Billionaire, to Commerce. These guys have been huge political contributors,Trump has just robbed the Dems Blind with these appointments. Plus they know what they're doing, and they know the score and they understand Donald Trump.
  • ELIZABETH WARREN: Trump's Treasury secretary pick was the 'Forrest Gump of the financial crisis'

    11/30/2016 10:22:52 AM PST · by SeekAndFind · 90 replies
    Business Insider ^ | 11/30/2016 | Bob Bryan
    It appears Elizabeth Warren does not think too highly of President-elect Donald Trump's nomination of Steven Mnuchin for Treasury secretary. In a statement, the Massachusetts senator said Mnuchin was involved in the worst kind of lending practices that led to the financial crisis during his time as head of mortgage lending at Goldman Sachs. "Steve Mnuchin is the Forrest Gump of the financial crisis — he managed to participate in all the worst practices on Wall Street," Warren said in a statement, according to Politico's Ben White. "He spent two decades at Goldman Sachs helping the bank peddle the same...
  • Wall Street Reacts To Steve Mnuchin Choice For Treasury Secretary

    11/30/2016 10:02:04 AM PST · by SeekAndFind · 6 replies
    Zero Hedge ^ | 11/30/2016
    Following the news that Steve Mnuchin would be US Trasury Secretary, Wall Street analysts offered mixed predictions on which policies Donald Trump’s choice for Treasury secretary may pursue, as they have little to go on other than Mnuchin’s background with Goldman, buying/selling the former Indy Mac. The prevailing consensus is that Mnuchin’s Wall Street past will lead to easing regulations, tax policies; but at the same time, Mnuchin may not help larger banks as he may focus on regionals and/or seek to distance himself from his GS/IndyMac past. For now optimism dominates, as banks gain, with the KBW banks...
  • Confirmed: Donald Trump Picks Steven Mnuchin and Wilbur Ross for His Cabinet

    11/30/2016 6:08:13 AM PST · by jneesy · 75 replies
    Mnuchin will be Treasury Secretary Ross will lead the Commerce Department. President-elect Donald Trump has filled more top posts on his economic team — picking former Goldman Sachs executive Steven Mnuchin as treasury secretary and financier Wilbur Ross to lead the Commerce Department. Mnuchin is confirming that he and Ross are joining Trump’s Cabinet, pending confirmation by the Senate. He tells CNBC’s “Squawk Box” in an interview Wednesday that “we’re thrilled to work for the president-elect and honored to have these positions.” Mnuchin says “sustained economic growth” is the chief priority of the incoming administration and he says “we can...
  • Steve Mnuchin Picked By Trump To Head Treasury Department

    11/29/2016 5:29:55 PM PST · by Helicondelta · 39 replies
    washingtontimes.com ^ | 29 Nov 2016
    Donald Trump will nominate Steve Mnuchin, who has ties to both Wall Street and Hollywood, to be treasury secretary, according to a report Tuesday. The 53-year-old, who also served as finance director for the presidential campaign, was at Trump Tower on Tuesday to meet with the transition team.
  • Steven Mnuchin Is Donald Trump’s Expected Choice for Treasury Secretary

    11/29/2016 2:41:20 PM PST · by SeekAndFind · 71 replies
    New York Times ^ | 11/29/2016 | By BINYAMIN APPELBAUM and MAGGIE HABERMANNOV
    Steven Terner Mnuchin, a financier with deep roots on Wall Street and in Hollywood but no government experience, is expected to be named Donald J. Trump’s Treasury secretary as soon as Wednesday, sources close to the transition say. Mr. Mnuchin, 53, was the national finance chairman for Mr. Trump’s campaign. He began his career at Goldman Sachs, where he became a partner, before creating his own hedge fund, moving to the West Coast and entering the first rank of movie financiers by bankrolling hits like the “X-Men” franchise and “Avatar.” As Treasury secretary, Mr. Mnuchin would play an important role...
  • Walgreen's $140 Million Lawsuit Shows Theranos Is Way Worse Than We Thought

    11/23/2016 11:10:50 PM PST · by CorporateStepsister · 15 replies
    Thrill List ^ | 11/23/2016, 2:58 PM | By Christina Stiehl
    <p>Theranos, the biotech company started by a 19-year-old Stanford dropout, has another hurdle to cross in its whole "we're totally a legit blood-testing company" campaign. This time, it turns out that tens of thousands of blood tests were voided, making them totally invalid. Whoops!</p>
  • Trump down to two choices for Treasury secretary

    11/22/2016 2:11:37 AM PST · by ErikJohnsky · 10 replies
    CNN Money ^ | 11/21/2016 | Cristina Alesci and Jill Disis
    President-elect Donald Trump has narrowed the field of candidates for Treasury secretary to Steven Mnuchin and Jonathan Gray, multiple sources tell CNN. Mnuchin, 53, is a former Wall Street exec turned Hollywood producer. And Gray, 46, is a billionaire in charge of real estate for the Blackstone private equity firm. Both Mnuchin and Gray would be seen as political moderates. Gray is a registered Democrat and Mnuchin has contributed to both parties. Last week, Trump's first picks for senior positions were seen as very conservative.
  • Theranos's Insane Campaign To Punish Whistleblower, Who Happened To Be Famous Boardmember's Grandson

    11/21/2016 7:48:00 PM PST · by CorporateStepsister · 40 replies
    TechDirt ^ | Mon, Nov 21st 2016 5:13pm | by Mike Masnick
    We haven't really written much about the insane Theranos scandal, though we discussed it on our podcast. The whole story is pretty crazy -- involving a heavily hyped up company that appeared to basically be flat out lying to everyone about what it could do. The company still exists, but barely. The company's founder and CEO, who was plastered across magazine covers and compared frequently to Steve Jobs, has been banned from running a lab for two years, and the company is now facing a $140 million lawsuit from its biggest partner, Walgreens, who claims that Theranos repeatedly lied to...
  • Theranos and David Boies Cut Legal Ties

    11/19/2016 12:07:29 AM PST · by CorporateStepsister · 13 replies
    The Wall Street Journal ^ | Nov. 18, 2016 7:12 p.m. ET | By John Carreyrou
    Litigator David Boies and the law firm he founded, Boies, Schiller & Flexner LLP, have stopped doing legal work for Theranos Inc. after disagreeing about the strategy for handling ongoing government investigations of the blood-testing company, according to people familiar with the matter. Mr. Boies, 75 years old, has been one of the country’s best-known litigators since the late 1990s. He became Theranos’s outside counsel after being approached in 2011 by two investors in the Palo Alto, Calif., startup. He fiercely defended Theranos against questions about its technology and operations. Those efforts included threatening to take legal action against The...
  • Theranos and David Boies Cut Legal Ties

    11/18/2016 11:53:04 PM PST · by CorporateStepsister · 7 replies
    Wall Street Journal ^ | Nov. 18, 2016 7:12 p.m. ET | By John Carreyrou
    Litigator David Boies and the law firm he founded, Boies, Schiller & Flexner LLP, have stopped doing legal work for Theranos Inc. after disagreeing about the strategy for handling ongoing government investigations of the blood-testing company, according to people familiar with the matter. Mr. Boies, 75 years old, has been one of the country’s best-known litigators since the late 1990s. He became Theranos’s outside counsel after being approached in 2011 by two investors in the Palo Alto, Calif., startup. He fiercely defended Theranos against questions about its technology and operations. Those efforts included threatening to take legal action against The...
  • Why is Elizabeth Holmes still leading Theranos?

    11/18/2016 11:38:20 PM PST · by CorporateStepsister · 25 replies
    San Francisco Business Times ^ | Nov 18, 2016, 1:40pm PST | Ron Leuty Reporter San Francisco Business Times
    It's worth asking why Elizabeth Holmes is still leading the embattled blood testing company Theranos Inc. But there may be a good reason why she still is in charge, one that has little to do with the scandal-ridden company's performance to date. Forget what venture capitalist Tim Draper — one of the first to invest in the Palo Alto company — implied this week that Holmes is being attacked because she's a young, female entrepreneur. The simple fact is that Theranos has not been able to deliver on its technology from a commercial, scientific or regulatory standpoint, and that falls...
  • Theranos Whistleblower Tells All On Intimidation And Coercion Tactics Employed To Silence Him

    11/18/2016 12:05:55 AM PST · by CorporateStepsister · 26 replies
    Zero Hedge ^ | Nov 17, 2016 7:20 PM | by Tyler Durden
    2016 has not been too kind to Elizabeth Holmes, the Steve-Jobs wannabe in charge of fraudulent Theranos. She has thus far been banned for 2 years from operating labs, removed from hosting fundraisers for Hillary and lost her entire net worth. And now, the Wall Street Journal has published the "tell-all" story of the whistle-blower, 26 year old Tyler Shultz, who brought the the whole Theranos farce crashing down. It's a sordid tale complete with all the expected twists and turns of a Jason Bourne thriller including intimidation, coercion and private detectives. Tyler Shultz is the grandson of George Shultz,...
  • 'Deft Diplomacy' Results in the Politicization of the Treasury Department

    11/03/2016 4:09:43 AM PDT · by detective · 2 replies
    American Thinker ^ | November 3, 2016 | John A. Cassara
    This past April, Treasury's acting under-secretary for terrorism and financial intelligence spoke at a Washington, D.C. forum and delivered remarks that demonstrated what I long suspected: the politicization of the Department of Treasury's enforcement arm.  Recent developments have confirmed my fears.  As a former Treasury special agent, I am appalled at what has been happening. Reading a prepared statement, the under-secretary discussed the Iran sanctions program and described how it helped pave the way to the "Joint Comprehensive Plan of Action" (JCPOA) or the long-running negotiations with Iran that will postpone Iranian nuclear weapon development.  Sitting in the audience that...
  • Leaked E-mail: Facebook Exec Provided Data to Clinton Campaign

    10/17/2016 2:17:42 PM PDT · by VitacoreVision · 16 replies
    The New American ^ | 17 October 2016 | C. Mitchell Shaw
    Leaked e-mails published by WikiLeaks show that the mainstream media are not the only media going out of their way to push the election to Hillary Clinton. While the collusion between the Department of Justice and the Clinton campaign/Clinton Foundation and between the mainstream media and the Clinton campaign/Clinton Foundation have done much to help Clinton, social media has played a big part in the game, as well.In the modern age, data is a more valuable asset than most realize. Those who decide what you see can — to a large extent — manipulate what you think, or at least...
  • Treasury: No increase in terror funding by Iran after cash payment

    09/22/2016 9:40:15 AM PDT · by Nachum · 32 replies
    Washington Examiner ^ | 9/22/16 | Joseph Lawler
    Treasury Secretary Jack Lew said Thursday that the administration has not seen evidence that Iran's financial support for terrorism has grown since the U.S. paid the regime $1.7 billion in cash in January. "We have not seen an increase in terrorist financing by Iran," Lew told the House Financial Services Committee. But Lew also acknowledged that he wasn't aware if there was any way to trace how Iran uses the cash. Republicans pressed him on whether the U.S. recorded the serial numbers on the bills that were shipped to Iran, but Lew said he did not know. The U.S. arranged...
  • Here Is Who Donald Trump Wants for Treasury Secretary

    07/20/2016 11:36:36 AM PDT · by Maceman · 20 replies
    Fortune ^ | JULY 19, 2016 | Dan Primack
    Believe it or not, the job may go to a former Clinton donor if Trump is elected. Donald Trump has told prospective donors that, if elected president, he plans to nominate former Goldman Sachs banker Steve Mnuchin for U.S. Treasury Secretary. That’s according to Anthony Scaramucci, a high-profile hedge fund manager and Trump fundraiser. Mnuchin, who is a former donor to Hillary Clinton, spent 17 years with Goldman Sachs, where his father also had been a prominent executive. He later worked with investment groups affiliated with George Soros, including as chairman of controversial mortgage lender OneWest Bank Group (which would...
  • Republican ex-Treasury chief Paulson slams Trump, to vote for Clinton

    06/25/2016 7:28:18 AM PDT · by Olog-hai · 90 replies
    Reuters ^ | Fri Jun 24, 2016 8:37pm EDT | Eric Beech
    Henry Paulson, a Republican who was U.S. Treasury secretary during the 2008 financial meltdown, on Friday called a Donald Trump presidency “unthinkable” and said he will vote for Democrat Hillary Clinton. Paulson joins a growing list of establishment Republicans who say they will not cast a ballot in the Nov. 8 election for Trump, the party’s presumptive nominee and a political neophyte whose populist rhetoric runs counter to many long-held Republican principles. […] “I’ll be voting for Hillary Clinton, with the hope that she can bring Americans together to do the things necessary to strengthen our economy, our environment and...
  • The Next Big Bailout? Treasury Rejects Proposal To Cut Pension Benefits

    05/08/2016 8:24:07 AM PDT · by Rusty0604 · 16 replies
    Zerohedge ^ | 05/07/2016 | Tyler Durden
    UPS, and roughly 270,000 retired truck drivers, construction workers, and other service workers can breathe a collective sigh of relief... for now. As we previously reported, the Central States Pension Fund had submitted a plan to Treasury that if approved would have cut member benefits, and triggered UPS to take an estimated $3.8 billion charge. As the WSJ reports, Kenneth Feinberg (who was appointed by the Treasury to review all such applications) rejected the plan presented by the CSPF. Feinberg cited a few reasons for his decision, one being that it imposed cuts in a disproportionate manner, another was that...
  • Treasury rejects plan to slash Teamsters pension benefits

    05/06/2016 7:34:51 PM PDT · by Olog-hai · 16 replies
    Associated Press ^ | May 6, 2016 6:01 PM EDT | Martin Crutsinger
    The Treasury Department on Friday rejected an effort by the Teamsters Central States Pension Plan to cut benefits for 270,000 retired workers starting in July. Treasury Secretary Jacob Lew said in a letter to members of Congress that while the decision blocks the pending pension cuts, it does not resolve the issue because the pension plan remains severely underfunded and is projected to become insolvent within the next 10 years. …
  • Harriet Tubman to appear on $20 bill (in 2030)

    04/20/2016 7:55:02 PM PDT · by MinorityRepublican · 83 replies
    Hot Air ^ | April 20, 2016 | JOHN SEXTON
    Treasury Secretary Jack Lew will make an announcement today about several changes to U.S. currency. Contrary to a suggestion last year, Alexander Hamilton will apparently be staying on the $10 bill but women’s rights leaders will be added to the back of the bill. The big change will be to the $20 bill according to Politico: Treasury will also announce that it plans to replace former President Andrew Jackson on the $20 bill with Harriet Tubman, the sources said. There will also be changes to the $5 bill to depict civil rights era leaders. The Treasury Department announced last June...
  • Harriet Tubman is the next face of the $20 bill; $5 and $10 bills will also change

    04/20/2016 7:29:55 PM PDT · by Cheerio · 69 replies
    LAT ^ | April 20, 2016 | Samantha Masunaga
    arriet Tubman will replace President Andrew Jackson as the face of the $20 bill, and Jackson will be moved to the back of the bill alongside an image of the White House, Treasury Secretary Jacob J. Lew said Wednesday. Alexander Hamilton, the nation’s first Treasury secretary, will remain on the front of the $10 bill, but the back of that bill, which currently bears an image of the Treasury building, will feature leaders of the suffrage movement. The reverse of the $5 bill will be overhauled to include opera singer Marian Anderson, First Lady Eleanor Roosevelt and civil rights leader...
  • Treasury Dept. Announces Big Changes to $10, $5 Bills Following Tubman News

    04/20/2016 1:39:10 PM PDT · by markomalley · 42 replies
    Mediaite ^ | 4/20/16 | Josh Feldman
    The Treasury Department made it official this afternoon: Harriet Tubman is replacing Andrew Jackson on the front of the $20, and there are other bills getting big changes too.Treasury Secretary Jacob Lew announced today that in addition to Tubman, the $10 and $5 bills are getting makeovers. And don’t worry, Alexander Hamilton isn’t going anywhere.But the back will be changed to this: The new $10 will honor the story and the heroes of the women’s suffrage movement against the backdrop of the Treasury building… The new $10 design will depict that historic march and honor Lucretia Mott, Sojourner Truth, Susan...
  • Martin Luther King to go on $5 bill

    04/20/2016 2:18:50 PM PDT · by markomalley · 144 replies
    Washington Examiner ^ | 4/20/16 | Joseph Lawler
    Abraham Lincoln will not be the only person depicted on the $5 bill much longer. The Treasury Department announced Wednesday that it will overhaul the design of the $5 note, a move overshadowed by its decision to revamp the back of the $10 bill to include women and to feature Harriet Tubman on the front of the $20. Civil rights icon Martin Luther King Jr., famed opera singer Marian Anderson and first lady Eleanor Roosevelt will be depicted on the back of the updated $5 bill.All three will be portrayed in historical moments in front of the Lincoln Memorial, which...
  • Official: Treasury Removes Andrew Jackson From $20 Bill, Will Replace Him With Harriet Tubman

    04/20/2016 11:49:32 AM PDT · by SeekAndFind · 130 replies
    Zero Hedge ^ | 04/20/2016 | Tyler Durden
    Presenting an artist's impression of what your new $20 bill will soon look like. It's official.Moments ago Politico reported that the U.S. Treasury will announce that it plans to replace former President Andrew Jackson on the $20 bill with Harriet Tubman, the sources said. There will also be changes to the $5 bill to depict civil rights era leaders.Not every dead president is being scraped however: treasury Secretary Jack Lew on Wednesday will announce a decision to keep Alexander Hamilton on the front of the $10 bill and put leaders of the movement to give women the right to vote...
  • Harriet Tubman will replace Andrew Jackson on the $20 bill

    04/20/2016 9:22:20 AM PDT · by ChicagoConservative27 · 211 replies
    Harriet Tubman is going to replace former President Andrew Jackson on the $20 bill, according to a report. Treasury Secretary Jack Lew is expected to make the announcement on Wednesday, according to Politico. Sources told the site that he has also decided to keep Alexander Hamilton on the front of the $10 bill.
  • Jack Lew nears decision to keep Hamilton on front of $10 bill, put a woman on the $20

    04/16/2016 9:02:05 PM PDT · by PROCON · 106 replies
    CNN ^ | April 16, 2016 | Kevin Liptak and Antoine Sanfuentes
    Treasury Secretary Jack Lew is expected to announce this week that Alexander Hamilton's face will remain on the front of the $10 bill and a woman will replace Andrew Jackson on the face of the $20 bill, a senior government source told CNN on Saturday. Lew announced last summer that he was considering redesigning the $10 bill to include the portrait of a woman. The decision to make the historic change at the expense of Hamilton drew angry rebukes from fans of the former Treasury Secretary. The pro-Hamilton movement gained steam after the smash success of the hip-hop Broadway musical...
  • U.S. Govt. Banking Program Facilitates Remittances to Mexico

    04/06/2016 3:08:25 PM PDT · by markomalley · 14 replies
    Amid the discord ignited by Donald Trump’s idea to block money transfers to Mexico until it funds a wall it’s important to note that a U.S. government program is largely responsible for the billions in remittances flowing south of the border from illegal immigrants. The program is called “Directo a Mexico” (Direct to Mexico) and the Federal Reserve, the government agency that serves as the nation’s central bank, launched it nearly a decade ago. Judicial Watch investigated the outrageous taxpayer-subsidized initiative and obtained government records back in 2006. It was created by President George W. Bush following the 2001 U.S.-Mexico...
  • Why Larry Summers wants to kill the $100 bill

    02/17/2016 9:10:47 AM PST · by jmcenanly · 25 replies
    Market Watch ^ | Feb 16, 2016 11:39 a.m. ET | Jeffry Bartash
    Get rid of the $100 bill. Heck, maybe get rid of the $50 bill, too. So says Lawrence Summers, a former economic adviser to President Obama and ex-Treasury secretary. Summers points to research showing that corruption is aided by paper currency in larger denominations, such as Uncle Sam’s $100 bill and the 500-euro bill ($557 U.S. equivalent). How so? It’s easier for criminals and terrorists to move lots of cash illicitly in large bills. A million dollars in €500 bills weighs just 2.2 pounds, Summers writes in a blog post on the Washington Post website. The same amount of money...
  • U.S. Treasury Secretary to visit Puerto Rico next week

    01/15/2016 8:12:47 AM PST · by rrstar96 · 8 replies
    NotiUno.com (Spanish) ^ | January 15, 2016 | NotiUno
    (English translation) United States Secretary of the Treasury Jacob Lew will visit Puerto Rico next Wednesday to meet with government and civic leaders. It was reported that they will discuss the island's fiscal and public-debt crisis. According to Treasury's spokesman, among the people Lew is scheduled to meet with are Governor Alejandro Garcia Padilla, Resident Commissioner Pedro Pierluisi, and legislative, community, labor, and business leaders.
  • Exclusive: Scandal-tainted U.S. Secret Service to hire 1,100 staff - sources

    08/15/2015 1:55:46 AM PDT · by bob_denard · 26 replies
    Reuters ^ | Fri Aug 14, 2015 | BY JULIA EDWARDS AND JASON SZEP
    Facing accusations that it cannot adequately protect the White House, the U.S. Secret Service plans to hire 1,100 more officers and agents for an agency besieged by embarrassing scandals and security lapses, two law enforcement sources with direct knowledge of the plans said. The addition of 700 uniformed division officers and 400 agents over five years would expand its staff of 6,647 by nearly 17 percent, the biggest hiring increase in more than a decade at the 150-year-old agency whose job it is to protect the president, his family, and senior officials, along with fighting financial crime. The Secret Service...
  • The Numbers Are In: China Dumps A Record $94 Billion In US Treasurys In One Month

    09/07/2015 10:25:51 AM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 09/06/2015 | Tyler Durden
    Shortly after the PBoC’s move to devalue the yuan, we noted with some alarm that it looked as though China may have drawn down its reserves by more than $100 billion in the space of just two weeks. That, we went on the point out, would represent a stunning increase over the previous pace of the country’s reserve draw down, which we began documenting months ahead of the devaluation (see here, for instance). We went on to estimate, based on the projected size of the RMB carry trade unwind, how large the FX reserve liquidation might need to be to...
  • Billionaire Carl Icahn wants to be Trump's Treasury Secretary after all

    08/20/2015 10:45:19 AM PDT · by SeekAndFind · 9 replies
    CNN Money ^ | 08/20/2015
    Score another point for Donald Trump. Investor and Hedge fund manager Carl Icahn was so impressed with Trump's debate performance Thursday night that he's ready to be part of President Trump's cabinet. "After last night's debate I decided to accept @realDonaldTrump offer for Secretary of Treasury," Icahn tweeted Friday afternoon. It's a major turnaround for Trump. Only a few weeks ago, Icahn, a 79-year-old billionaire famous for pressuring companies to restructure, told Trump "no thanks" to the offer to be Treasury Secretary. "I was extremely surprised to learn that Donald was running for president and even more surprised that he...
  • For America's economy, the end is nigh [Fundamental Transformation Complete]

    07/13/2015 3:47:47 PM PDT · by Jan_Sobieski · 31 replies
    World Net Daily ^ | 7/12/2015 | Lord Monckton
    ...Mr. Obama’s mission to destroy America’s economy is complete. The damage he has done is irreversible. The dollar is history. The American economy is going down, and soon. The posh commentators say the collapse will be gradual rather than sudden. But few are now predicting there will not be collapse at all. Here are just some of the pointers. First and foremost, U.S. public debt is $18.3 trillion. By the time Mr. Obama leaves the White House late next year, he will have doubled it in a single “presidency.” On top of that, Uncle Sam has unfunded liabilities of at...
  • The Ten Dollar Bill - So Much More than a Means of Exchange

    06/23/2015 6:48:27 PM PDT · by jfd1776 · 13 replies
    Illinois Review ^ | June 23, 2015 A.D. | John F. Di Leo
    What is a nation’s currency? Ask an economist, and he’ll tell you that a U.S. Dollar bill, or a European Euro note, or a British Pound note, for that matter, is not really objectively worth its denomination. It’s just a piece of cotton paper, with a drop of ink and a magnetic strip. It’s not worth much. But it represents confidence in the nation’s economy, and it serves the economy as a means of exchange – a few pennies worth of decorated cotton serving to enable the purchase of a $1 loaf of bread, or a $10 lunch, or a...
  • Alexander-the-Not-So-Great: Hamilton Out on $10 Bill

    06/22/2015 11:20:10 AM PDT · by Mozilla · 85 replies
    Breitbart ^ | June 18, 2015 | Jarrett Stepman
    The Treasury Department announced on June 17, that Hamilton would be replaced and diminished on the $10 bill in order to feature a woman to be announced at a later date. The goal is to have new bills out by 2020, the 100th anniversary of the 19th amendment that guaranteed women the right to vote. “Our democracy is a work in progress. We’ve always been committed to a more perfect union,” Treasury Secretary Jack Lew said according to CBS News. ”This decision to put a woman on the $10 reflects our aspirations for the future, as much as it is...
  • Obama Administration to Take Alexander Hamilton – First Treasury Secretary – Off the $10 Bill

    06/17/2015 7:51:06 PM PDT · by Nachum · 95 replies
    The Gateway Pundit ^ | 6/17/15 | Jim Hoft
    The Obama administration is taking Alexander Hamilton, the first Treasury Secretary, off of the ten dollar bill.They will replace him with a woman. Scoop: Goodbye Alexander Hamilton. Hello 1st woman on the $10 bill. http://t.co/S1Or49drYo pic.twitter.com/088rppV4dP— Benny (@bennyjohnson) June 17, 2015 Dana Loesch added: There is nothing wrong now with Hamilton, a Founder, Constitution signer, and founder of the Federalist Party, on the $10 bill. The choice to remove him for a yet-to-be-named woman while a genocidal, Democrat bigot who defied a Supreme Court ruling to tickle his “relocation” fetish remains on the $20 is insulting.
  • Congress Asked to Investigate Whether Obama Administration Delayed GM Ignition Switch Recall

    12/08/2014 10:12:40 AM PST · by jazusamo · 7 replies
    NLPC ^ | December 8, 2014 | Peter Flaherty
    Today, we requested that the House Committee on Oversight & Government Reform undertake an "independent" investigation of the General Motors ignition switch recall delay, in light of newly obtained emails by lawyers suing GM. Those emails suggest that the Treasury may have timed its final sale of GM shares to precede public knowledge of the ignition switch fiasco. They also cast doubt on GM CEO Mary Barra's previous account of what she knew and when she knew it. Here is the text of a letter I sent today to Rep. Jason Chaffetz, in photo, the incoming Chairman of the...
  • Report: IRS Deliberately Cut Its Own Customer Service Budget

    04/22/2015 6:49:57 AM PDT · by Zakeet · 20 replies
    Weekly Standard ^ | April 22, 2015 | John McCormack
    If you tried to contact the IRS with a question about your taxes this year, chances are you didn't get a response. The IRS estimated that it would only answer 17 million of the 49 million calls received this filing season. Taxpayers lucky enough to have the IRS answer their calls waited an average of 34.4 minutes for assistance--nearly double the wait time last year (18.7 minutes). IRS Commissioner John Koskinen has blamed the IRS's "abysmal" customer service on congressional budget cuts--funding is down $1.2 billion from its 2010 peak--but a new congressional report points the finger back at the...
  • $100 Trillion American Economic Collapse with Jim Rickards

    12/11/2014 8:11:12 AM PST · by Ghost of SVR4 · 11 replies
    Youtube ^ | Oct 21, 2014 | Jim Rickards
    I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.
  • Lew to Congress: US hits debt limit on March 16, must be raised ASAP

    03/06/2015 10:13:30 AM PST · by Theoria · 43 replies
    CNBC ^ | 06 Mar 2015 | Everett Rosenfeld
    Unless Congress takes action, the U.S. will hit its debt limit on Mar. 16, but would begin taking "extraordinary measures" to finance the government on a temporary basis, according to the U.S. Treasury. In a Friday morning letter to House Speaker John Boehner and other House and Senate leaders, Treasury Secretary Jack Lew said that his office will be forced to suspend the issuance of State and Local Government Series securities on Mar. 13 unless the debt limit is decreased. "Accordingly, I respectfully ask Congress to raise the debt limit as soon as possible," Lew wrote in his letter. The...
  • Treasury IG: New Lois Lerner e-mails shows “potential criminal activity”

    02/27/2015 7:23:56 AM PST · by SeekAndFind · 35 replies
    Hotair ^ | 02/27/2015 | Ed Morrissey
    Remember when Barack Obama insisted that there wasn’t a “smidgen of corruption” in his administration related to the IRS scandal? Good times, good times. The discovery of tens of thousands of e-mails from Lois Lerner, the central figure in the IRS targeting of conservative non-profits, may rewrite the scandal — and may end up with criminal charges for Lerner:CLICK ABOVE LINK FOR THE VIDEO Federal investigators are looking for possible criminal activity in connection with the missing emails of a central figure in the Internal Revenue service’s targeting scandal.The Treasury Inspector General for Tax Administration testified at a House...
  • Lawless: Treasury throws unauthorized $3 billion to insurers under Obamacare, won’t say why

    02/27/2015 3:42:34 AM PST · by afraidfortherepublic · 36 replies
    Hot Air ^ | 2-16-15 | Noah Rothman
    It’s right there in the Constitution: “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.” Which is why this latest episode of lawlessness from the administration so particularly galling. “The U.S. Treasury Department has rebuffed a request by House Ways and Means Chairman Rep. Paul Ryan, R- Wis., to explain $3 billion in payments that were made to health insurers even though Congress never authorized the spending through annual appropriations,” The...
  • US Macro Collapses To 11-Month Lows, Russia Dumps 20% Of It's U.S. Treasury Holdings And Buys Gold

    02/20/2015 3:59:57 AM PST · by alexmark1917 · 22 replies
    US Macro Collapses To 11-Month Lows, 88% Of Data Has Missed In February Despite the total and utter cognitive dissonance of talking-heads on mainstream media channels, the US economic data is not 'strong', is not 'goldilocks', is not 'decoupled', is not 'solid'. In fact, it's absolutely terrible. Bloomberg's US Macro data indicator which tracks both beats-and-misses and improvement/deterioration in data - is at 11-month lows. February alone has seen 29 data items miss expectations (from retail sales to industrial production)with only 4 data points beating expectations (including the constantly revised nonfarm payrolls data which so many hang their hat on)....
  • Investing in the ObamaFund; Treasury rolls out a new savings plan without a Congressional vote.

    12/30/2014 3:32:07 AM PST · by Liz · 16 replies
    wsj.com ^ | 12/29/14
    EXCERPT—--the WH wants you to consider a retirement plan that will invest in nothing but US government debt. Any financial professional who advised this—would be sued for malpractice. But asset allocation is merely one of the problems with the new “myRA” fund rolling out this month. A form of Roth IRA that allows people to save after-tax dollars and watch them grow tax-free until retirement, the new myRA offers a single investment option. It’s a private version of the G Fund that is available to federal workers and has lately been delivering annual returns of about 2% on its portfolio...
  • Treasury Says Survival Kits [ordered for every major bank employe] for ‘Emergency Preparedness’

    12/18/2014 5:33:56 AM PST · by Cincinatus' Wife · 45 replies
    The Washington Free Beacon ^ | December 18, 2014 | Elizabeth Harrington
    A spokesperson for the Treasury Department told the Washington Free Beacon that survival kits being ordered for government workers at every major bank in the United States are for “emergency preparedness.” .......“The solicitation is to replace aging kits and provide kits at additional location out of a preponderance of caution,” Collins added. Once the government finds a bidder, each of OCC’s 3,814 employees will receive a survival kit, which will come in a fanny-pack or backpack that can fit all of the items, including a 33-piece personal first aid kit with “decongestant tablets,” a variety of bandages, and medicines. The...
  • Treasury Department Seeking Survival Kits For Bank Employees

    12/10/2014 12:42:13 PM PST · by Nachum · 40 replies
    Free Beacon ^ | 12/10/14 | Elizabeth Harrington
    The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets. The government is willing to spend up to $200,000 on the kits, according to the solicitation released on Dec. 4. The survival kits must come in a fanny-pack or backpack that can fit all of...
  • Why Is The US Treasury Quietly Ordering "Surival Kits" For US Bankers?

    12/10/2014 12:39:33 PM PST · by Nachum · 41 replies
    zero hedge ^ | 12/10/14 | tyler durden
    The Department of Treasury is spending $200,000 on survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. As FreeBeacon reports, survival kits will be delivered to every major bank in the United States and includes a solar blanket, food bar, water-purification tablets, and dust mask (among other things). The question, obviously, is just what do they know that the rest of us don't? As Free Beacon reports,
  • Ponzi: Treasury Issues $1T in New Debt in 8 Weeks—To Pay Old Debt

    11/28/2014 5:30:08 PM PST · by xzins · 45 replies
    CNS ^ | November 28, 2014 | Terence P. Jeffrey
    The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing to celebrate Thanksgiving revealed that the U.S. Treasury has been forced to issue $1,040,965,000,000 in new debt since fiscal 2015 started just eight weeks ago in order to raise the money to pay off Treasury securities that were maturing and to cover new deficit spending by the government. During those eight weeks, Treasury took in $341,591,000,000 in revenues. That was a record for the period between Oct. 1 and Nov. 25. But that record $341,591,000,000 in revenues was not enough to finance ongoing government spending let alone...
  • This One Market Measure Has A Perfect Track Record For Predicting US Recessions

    07/08/2014 6:11:42 PM PDT · by SeekAndFind · 9 replies
    Business Insider ^ | 07/08/2014 | Sam Ro
    There are very few market indicators that can predict recessions without sending out false positives. The yield curve is one of them. At a breakfast earlier today, LPL Financial's Jeffrey Kleintop noted that the yield curve inverted just prior to every U.S. recession in the past 50 years. "That is seven out of seven times — a perfect forecasting track record," he reiterated. The yield curve is inverted when short-term interest rates (e.g. the 3-year Treasury) are higher than long-term interest rates (e.g. the 10-year Treasury yield). "The yield curve inversion usually takes place about 12 months before the start...