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Treasury Department

Absolute Corruption Is the Rule in America

David A. Love | Posted 11.09.2009 | Politics

Read More: Treasury Department, Capitalism, Wall Street, Blue Dogs, Health Care Reform, Max Baucus, Bernard Madoff, Joe Lieberman, Health Care, Healthcare, Blue Dog Democrats, Corruption, Citibank, Bank Bailout, Stock Market, Corporations, Banking Crisis, Sec, Corporate Greed, Citigroup, Regulation, Madoff Ponzi Scheme, Ponzi Scheme, Deregulation, New York, Criminal Justice System, Glass-Steagall, Politics News
David A. Love

Often, people will look at a high-profile example of corruption, and conclude that the egregious act is an exception to the rule. In reality, it might be the tip of the iceberg.

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Federal Reserve-Led Regulation Opposed By Lawmakers From Both Parties

Patrice Hill | Posted 11.09.2009 | Business

Read More: Treasury Department, Barney Frank, Bank of America, Aig, Banks, Federal Reserve, Timothy Geithner, Obama Financial Reform, Financial Regulation, Ralph Nader, House Financial Services Committee, Business News

An unusual alliance of conservatives and liberals is pushing to break up or downsize banks deemed "too big to fail," rather than create a new regulato...

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Homebuyers' Tax Credit Set To Be Extended By Congress

nytimes.com | JACKIE CALMES | Posted 11.04.2009 | Business

Read More: Treasury Department, $8, Homebuyer Credit, Home Buyer Credit, Harry Reid, 000 Tax Credit, First Time Homebuyer Tax Credit, Business News

WASHINGTON -- The Senate and House are poised to agree on a compromise measure to extend unemployment benefits that also would expand a popular $8,000...

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Treasury Officials Meet With Financial Bloggers

Michael J. Panzner | Posted 11.04.2009 | Business

Read More: Financial Crisis, Treasury Department, Barack Obama, Bloggers, Economy, Economic Crisis, Business News
Michael J. Panzner

The meeting, admittedly, left most of us feeling like we had more questions after it ended than when it started -- I did learn a few things at the gathering that I found particularly interesting.

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Barney Frank Disagrees With Obama On Fund, May Face Fight With Some Financial Firms

bloomberg.com | Alison Vekshin | Posted 11.02.2009 | Politics

Read More: JP Morgan Chase, Treasury Department, Shareholders, Federal Deposit Insurance Corp., Barney Frank, Bloomberg Television, Aig, Obama Administration, Regulate Financial Firms, Financial Services Roundtable, Goldman Sachs, U.S. House Financial Services Committee, Financial Firms, Consumer Financial Protection Agency, Timothy Geithner, Sheila Bair, Political Capital With Al Hunt, Scott Talbott, Politics News

Oct. 31 (Bloomberg) -- Barney Frank, chairman of the U.S. House Financial Services Committee, reversed course on paying to unwind failed financial fi...

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"TARP on Steroids"

David Sirota | Posted 10.30.2009 | Politics

Read More: Tarp, Brad Sherman, Timothy Geithner, Treasury Department, Troubled Asset Relief Program, Politics News
David Sirota

The Obama administration, far from backing off or restricting TARP, is quietly moving forward a plan to create an even bigger, more permanent TARP.

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"Too Big To Fail" Bill Unveiled By Treasury Department, House Dems

The Huffington Post | Ryan MCCarthy | Posted 11.02.2009 | Business

Read More: Treasury Department, Financial Superfund, Barney Frank, Federal Reserve, Too Big Too Fail, Systemic Risk, House Financial Services Committee, Fiscal Policy, Business News

The Treasury Department and the House Financial Services Committee chairman Barney Frank (D - Mass.) last night unveiled a sweeping new bill that atte...

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Breaking Up the Big Banks, and Why Congress Won't Do It

Robert Reich | Posted 10.27.2009 | Business

Read More: Treasury Department, Congress, Robert Reich, Too Big to Fail, Bank of America, Larry Summers, Paul Volcker, Barack Obama, Merrill Lynch, Goldman Sachs, JP Morgan, Morgan Stanley, Wall Street, Financial Crisis, Banks, Glass-Steagall Act, Timothy Geithner, Bear Stearns, Citigroup, Break Up Big Banks, Breaking Up the Big Banks, Breaking Up Banks, Business News
Robert Reich

Two ideas are floating around Washington regarding how to handle 'too big to fail' banks, but only one is supported by the Treasury and the White House. Unfortunately, it's the wrong one.

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Shahien Nasiripour

Obama Administration Praises Consumer Protection Bill, Deflects Criticism Of Loopholes

HuffingtonPost.com | Shahien Nasiripour | Posted 10.23.2009 | Business

Read More: Cfpa, Treasury Department, Financial Crisis, Consumer Protection Agency, Timothy Geithner, Consumer Financial Protection Agency, President Obama, Michael Barr, Business News

The Obama administration on Friday strongly praised a House committee's vote to create a new federal consumer financial protection agency, despite the...

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Wall Street and Their Seductive Loan Promotions Tricked Many on Main Street

Rep. John Conyers | Posted 10.23.2009 | Politics

Read More: JP Morgan Chase, Treasury Department, Legal Services, Foreclosure Crisis, Subprime Mortgage Crisis, Hamp, Mortgage Crisis, Foreclosure, Timothy Geithner, Politics News
Rep. John Conyers

It is mind-boggling to believe that with such a vast operation, banking giants like JP Morgan Chase were not the least bit aware of the wrongful subprime lending practices being undertaken.

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Wall Street Is More of a Threat to Obama's Domestic Agenda than Afghanistan

Joseph A. Palermo | Posted 10.20.2009 | World

Read More: Matt Taibbi, Bill Clinton, Pecora Commission, Treasury Department, Sec, Joseph P. Kennedy, President Barack Obama, Cdos, Collateralized Debt Obligations, Larry Summers, Federal Reserve, Credit Default Swaps, Newt Gingrich, Fdr, Merrill Lynch, Goldman Sachs, Wall Street, Vietnam, Tim Geithner, Vice President Dick Cheney, Afghanistan, Timothy Geithner, Bear Stearns, Lyndon Johnson, Alan Greenspan, Securities and Exchange Commission, Too Big to Fail, President George W. Bush, Blue Dog Democrats, World News
Joseph A. Palermo

Whatever Obama decides to do in Afghanistan is of little consequence compared to Wall Street's ongoing "plutonomy."

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Secret Service Spread Thin By Increase In Threats Against U.S. Leaders

Posted 10.20.2009 | Politics

Read More: Treasury Department, Financial Investigations, Death Threats, Threats, Secret Service, Terrorist Threat, Congressional Research Service, Obama Administration, Southern Poverty Law Center, Department of Homeland Security, Special Agent Edwin Donovan, Domestic Threat, Racist Hate Groups, Protection Mission, Antigovernment, Politics News

An internal Congressional Research Service report says that the Secret Service does not that have the resources to deal with the unprecedented number ...

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Czar Blocks Bank Of America Chief's Pay

AP | STEVENSON JACOBS and VINNEE TONG | Posted 10.16.2009 | Business

Read More: Bank CEOs, Treasury Department, Executive Pay, Wall Street, Bank of America, US Treasury Department, Kenneth Lewis, Executive Bonuses, Wall Street Bonuses, Boa, Business News

NEW YORK — Capping a year in which he faced shareholder fury, regulatory scrutiny and was stripped of his chairman post, outgoing Bank of America Co...

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Treasury To Big Banks: Repay Bailout Now

New York Times | Edmund Andrews | Posted 10.15.2009 | Business

Read More: Banks, Treasury, Treasury Department, Big Banks, Economy, Business News

Concluding that some of the nation's biggest banks are in good enough shape to raise capital from private investors, senior Treasury officials would l...

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JPMorgan Interest-Only Loan Periods: Bank Works With Administration On Breaks For Borrowers

bloomberg.com | Jody Shenn and Dawn Kopecki | Posted 10.13.2009 | Business

Read More: JPMorgan Chase, Treasury Department, Making Home Affordable, Home Mortgages, Loans, Obama Administration, Business News

Banks will push the Obama administration to expand its mortgage-modification program to allow interest-only periods on reworked loans, seeking to brin...

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TARP Deadbeats: 33 Firms Miss Dividend Payments

Reuters | Posted 10.12.2009 | Business

Read More: Tarp, Treasury Department, Fdic, SNL Financial, Cit, Citigroup, Business News

Thirty-three TARP recipients missed a scheduled dividend payment to taxpayers last month, according to the Treasury Department, including 18 banks tha...

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Economic Reform is Overdue

Mary Shannon Little | Posted 10.12.2009 | Business

Read More: David Kotz, Treasury Department, Lehman Brothers, Economy, Economic Recovery, Sec, Lehman Brothers Bankruptcy, Barack Obama, Business News
Mary Shannon Little

One would hope Congress would have approached Wall Street reform with the same gusto they have brought to debating a public option in health care. It's time to tackle the thorny issues that brought us to this point.

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The Statistics Of The Great Recession

AP | TIM PARADIS | Posted 10.10.2009 | Business

Read More: Treasury Department, Economy, Home Sales, Recession, Debt, Personal Savings Rate, The Fed, Unemployment Rate, Barack Obama, Numbers, Statistics, Stock Gains, Stock Losses, Dow Jones Industrial Average, Peronal Debt, Ben Bernanke, Timothy Geithner, Business News

NEW YORK — A year ago this weekend, the Dow Jones industrial average had just finished a slow-motion crash. Over eight days, it fell 2,400 point...

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Citigroup is Well Run: Why The Treasury's Plan Will Fail

Bruce Judson | Posted 10.12.2009 | Business

Read More: Bruce Judson, Financial Bailout, Bailout, Glass-Steagall, Citigroup, Treasury Department, Citigroup Bailout, Remaking Fiscal Policy, Treasury Department Stress Tests, Citigroup Management Good Review, Business News
Bruce Judson

The modern history of finance, combined with ever advancing technology, shows that the locus of the next crisis is not predictable. We will always be regulating to prevent the causes of yesterday's failure.

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Shahien Nasiripour

Mortgage Loan Modification: More Offers Extended, Fewer Homeowners Accepting -- Are Homeowners Losing Hope?

HuffingtonPost.com | Shahien Nasiripour | Posted 10.09.2009 | Business

Read More: Mortgages, Treasury Department, Loan Modifications, Mortgage Modification, Making Home Affordable, Mortgage Servicers, Behavioral Economics, Home Affordable Modification, Mortgage Crisis, Financial Crisis, Obama Administration, Homeowners, Business News

While the Obama administration and reporters trumpet the fact that the administration is about a month early in reaching its stated goal of modifying ...

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20 GOP Politicians Repeat $1,761 Clean Energy Bill Lie

Josh Nelson | Posted 10.08.2009 | Politics

Read More: Treasury Department, Ed Markey, Waxman-Markey, Senator Murkowski, Senator Inhofe, John Boehner, Senator Wicker, Green, League of Conservation Voters, Joel Pollack, Deniers, Mike Pence, Cbs, Cynthia Lummis, Cap and Trade, Politifact, Nrcc, American Clean Energy and Security Act, Climate Change, Politics News, Wonk Room, Congressional Budget Office, Washington Post, Environmental Defense, John Culberson, Senator Alexander, Oregon GOP, Fred Upton, Represenative Markey, Politics, Roy Blunt, Clean Energy, Mitt Romney, Global Warming, National Republican Congressional Committee, Blaine Leutkemeyer, Politico, Value Voters Summit, Mike Bearn, Politics News
Josh Nelson

For the past few weeks Republicans have latched onto the $1,761 energy tax lie to oppose clean energy legislation.

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Wall Street: Too Big To Regulate

Garrett Johnson | Posted 10.06.2009 | Business

Read More: Wall Street Bailout, Financial Reform, Fdic, White House, Bank of America, Treasury Department, Hank Paulson, Willaim K. Black, Joseph Stiglitz, Nobel, Federal Reserve, Timothy Geithner, Public Private Investment Program, Thomas Hoenig, Sheila Bair, Tarp, Business News
Garrett Johnson

How can the Treasury, White House, and Congress be so tone deaf to calls to stop the massive give-away to the same people who got us into this mess?

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TARP Watchdog's Report: Treasury Misled Public On Bailouts

AP | MARTIN CRUTSINGER | Posted 10.05.2009 | Business

Read More: JP Morgan Chase, Tarp, Inspector General, Treasury Department, Geithner, Hank Paulson, Troubled Assets Relief Program, TARP Watchdog, Wells Fargo, Bailouts, Bank of America, Merrill Lynch, Wall Street, Finance, Barofsky, Neil M. Barofsky, Banks, Watchdog, Henry Paulson, Report, Timothy Geithner, Wachovia, Citigroup, Business News

WASHINGTON — The credibility of the government's $700 billion financial rescue program was damaged by claims a year ago that all of the initial bank...

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Government Pays Mortgage Servicers Billions, While Homeowners Suffer

McClatchy Newspapers | Chris Adams | Posted 10.04.2009 | Business

Read More: Treasury Department, Foreclosure Rates, Foreclosure Crisis, Banks, Bank of America, Recession, Mortgage Servicers, Lenders, Saxon Mortgage, Home Affordable Modification Program, CitiFinancial, Mortgage Modification, Unemployment, Foreclosure, HAMP, Gao, Treasury, Citi, Homeowners, Tarp, Economy, Government Accountability Office, Business News

WASHINGTON -- The federal government is engaged in a massive mortgage modification program that's on track to send billions in tax dollars to many of ...

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JPMorgan's Jamie Dimon: Banks Shouldn't Be Too Big To Fail, Except When They Are

bloomberg.com | David Reilly | Posted 09.30.2009 | Business

Read More: Bloomberg, Treasury Department, JPMorgan Chase, Financial Reform, Barney Frank, Too Big to Fail, Banks, David Reilly, Obama Administration, Jamie Dimon, Business News

Sept. 30 (Bloomberg) -- It was surprising to hear JPMorgan Chase & Co. Chief Executive Jamie Dimon say, "It would be a very bad long-term policy error...

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