Lew was offered a $940,000 bonus from Citigroup if he could land a job in government. That's one hell of a carrot. And here he is interviewing for Geithner's job.
The appetite of the fixed income investor is voracious. Apple was the course of the day with the largest issuance of corporate bonds in the history of our republic for $17 billion.
Everyone -- except Treasury, apparently -- agrees that our international tax system, which is based on transfer pricing, is broken.
When I heard rumors about Jay-Z and Beyonce heading to Cuba, I was feeling pretty confident about my trendy choice to go that way. But then I bagged Cuba, and booked a flight to Vienna, Austria, home of the Lipizzaner stallions and Wienerschnitzel.
Not one to be left out of the discussion, Jay-Z just dropped a new track called "Open Letter" (produced by Timbaland and Swizz Beatz) in which he discusses his recent trip to Cuba. He raps: "I'm in Cuba, I love Cubans/ This talk about Communism is so confusing." I feel ya, Jay-Z.
While we wait for our political leaders to stand up to a country that is clearly cheating at trade, American producers suffer from the hidden tax of currency manipulation, our unemployment rate remains frustratingly high, and our trade deficit with China grows a little wider each day.
Unless Americans step up the way Cypriots did and demand real regulation, as well as send the message that they don't trust Wall Street by moving their money to community banks and credit unions, they can bank on being bilked. Again.
There are two main ways multinationals shift profits out of the countries where they actually do business and into tax-haven holding companies.
While this approach is somewhat new in clean energy, it is based on an existing federal program already in place for small business, run by the Treasury Department. It is called the State Small Business Credit Initiative or SSBCI, which now distributes $1.5 billion to the states.
Timothy Geithner was a true believer. He just believed in the wrong things. While Washington debates the deficit, the big banks are bigger than ever -- and nobody's paying attention.
The accolades for Timothy Geithner came on so thick and heavy in the last week that it's necessary for those of us in the reality-based community to bring the discussion back to earth.
On Tuesday, Jan. 15, 2013, Fitch Ratings warned that if there is another Debt Ceiling Crisis, they could lower the U.S. credit rating. The U.S. is a...
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.
It is imperative that the administration finally break from Wall Street on economic and regulatory policy. Jacob Lew's nomination suggests we're in for more of the same.
Please don't tell me that these reports in the business press touting Sallie Krawcheck as a front-runner for chairman of the SEC or even a possible candidate to be the next Treasury secretary are true.
Selecting Jamie Dimon would be a gift to the powerful investment bank constituency plying their trade already in the all too comfortable niche of 'too big to fail.'