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Treasury

Obama Heads To Wall Street To Urge Reform

Washington Post | Brady Dennis | Posted 05.25.2011 | Politics

President Obama will head to Wall Street on Monday to try to breathe new life into efforts to overhaul the financial regulatory system, an undertaking...

Treasury Bailout's Limits On Lobbyists Still Haven't Taken Effect

Wall Street Journal | MEENA THIRUVENGADAM | Posted 05.25.2011 | Business

WASHINGTON -- A plan by Treasury Secretary Timothy Geithner to limit lobbyists' influence over the $700 billion bailout program has yet to get off the...

Take This Mortgage and Cram It

Jerry Chautin | Posted 05.25.2011 | Business
Jerry Chautin

At what point does heavy-handed government cross the line? Should homeowners suffer the consequences of their imprudent decisions to buy houses they could not afford?

Toxic Assets May Still Pose A Risk, Says Oversight Panel

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

WASHINGTON — Despite signs that the financial system has stabilized, banks remain threatened by billions of dollars of bad loans on their balanc...

The Chinese Come Calling

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

The Chinese Communists invaded Washington on Monday demanding not that we sacrifice our freedoms but rather that we balance our budget.

CIT's Rescue Could Be Turning Point

AP | Daniel Wagner and Stevenson Jacobs, AP Business Writers | Posted 05.25.2011 | Business

WASHINGTON (AP) -- With bondholders coming to the rescue of troubled commercial lender CIT Group Inc., and not the government, a new reality is settin...

Bailout Overseer: Banks Misused TARP Funds

Washington Post | Binyamin Appelbaum | Posted 05.25.2011 | Business

Many of the banks that got federal aid to support increased lending have instead used some of the money to make investments, repay debts or buy other ...

Lawmaker Squashes Treasury Plan To Hire Stress-Reducing Humorists

The Hill | Posted 05.25.2011 | Politics

The chairman of the Senate Democratic Policy Committee quashed an effort by the Treasury Department to hire a cartoonist after the link to the job ad ...

CIT Group 'Too Big Too Fail'?

nytimes.com | JULIE CRESWELL and STEPHEN LABATON | Posted 05.25.2011 | Business

The CIT Group is one of the nation's biggest lenders to small businesses. But a debate is swirling in Washington over whether it is large enough -- or...

Budget Deficit Tops $1 Trillion For First Time

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON _ The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears ...

Sam Stein

For Watchdogs, Tracking Specifics Of GM Bailout Nearly Impossible

HuffingtonPost.com | Sam Stein | Posted 05.25.2011 | Politics

In bankruptcy hearings that went late into the night on Tuesday and resumed again on Wednesday, executives from General Motors laid out the pricey pro...

Treasury Department Admits Challenging Independence Of TARP Inspector General

Political Punch, ABC News | Posted 05.25.2011 | Politics

Officials of the Treasury Department admitted late Thursday that they have asked the Justice Department to weigh in on how much power they have over t...

Paying The Price Of Fragmented Regulation

Robert Teitelman | Posted 05.25.2011 | Business
Robert Teitelman

In the run-up to testimony by Bank of America chief Ken Lewis on the Merrill Lynch & Co. affair, e-mails are suddenly leaking from the Beltway colander, though their ultimate source, strangely enough, is that opaque wonderland, the Federal Reserve.

Reagan Didn't Do It

Robert Scheer | Posted 05.25.2011 | Politics
Robert Scheer

Ronald Reagan's signing off on legislation easing mortgage requirements back in 1982 pales in comparison to the damage wrought 15 years later.

Geithner Sees Signs That US Economy Is Stabilizing

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

BEIJING — U.S. Treasury Secretary Timothy Geithner says the U.S. financial system is in much better shape these days and there is more stability...

U.S. Economy Risks Dire Prospect of Hyperinflation

Sheldon Filger | Posted 05.25.2011 | Business
Sheldon Filger

Quantitative easing and multi-trillion dollar deficits are the two core ingredients of an explosive fiscal cocktail that will ultimately lead to hyperinflation.

Amex, JPMorgan, Bank of New York Mellon Pass Stress Tests

AP | DANIEL WAGNER and SARA LEPRO | Posted 05.25.2011 | Business

WASHINGTON — Leaked results of the government's stress tests of 19 large banks are boosting investor confidence in the financial sector. America...

Cashing in on 'Government Sachs'

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

We are so inured to tales of business corruption that even a devastating exposé in The Wall Street Journal no longer shocks us.

This Week in Cheating

Jeff Kreisler | Posted 05.25.2011 | Comedy
Jeff Kreisler

Build a $1.5-ish billion taxpayer-funded stadium, charge those same taxpayers $2600 to see a game, don't create the promised park for local kids (because they're poor). Now look around. Guess what? You're rich!

Sam Stein

Obama's First 100 Days: 10 Achievements You Didn't Know About

HuffingtonPost.com | Sam Stein | Posted 04.29.2009 | Politics

Despite the anticipation that accompanies it, the marking of a president's first 100 days in office is a decidedly predictable affair. The White House...

Treasury Needs $361B More

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — The Treasury Department said Monday it will need to borrow $361 billion in the current April-June quarter, a record amount for that...

Endgame for Gramm?

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

The "nation of whiners" comment during the campaign was a sideshow compared with the serious charges now swirling around UBS, charges that may finally prove to be Phil Gramm's undoing.

By the Numbers

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

We don't have limitless time or money. Consider the numbers. Remember that averages hide our inequalities. Inequality and imbalance are the true root causes of the US and global meltdown.

Healing All Homeowners

Iris Martin | Posted 05.25.2011 | Business
Iris Martin

We will make them care. You will stay in your home. There is light at the end of the tunnel and you will prevail. Judges all over the country are on your side.

Treasury Revisits Rules For Toxic-Asset Sales

Wall Street Journal | MAYA JACKSON RANDALL | Posted 05.25.2011 | Business

The Treasury Department, facing criticism over its bank-rescue program, said it may allow a broader group of private investors to purchase toxic secur...