Treasury secretary

Jack Lew: Treasury Secretary and Oblivious Bank Shill

Fri, 24 May 2013 05:27:57 GMT

Source: ml-implode.com --- Thursday, May 23, 2013
``You would think that a financial rating agency would be shouting the praises of a rule that would prevent a failing bank from taking the rest of the economy down with it, but that's apparently not how things go in today's market. Particularly when those rating agencies are paid by the very people they are rating and corrupt enough to help sell garbage on the world marketplace.'' ...

Senator Elizabeth Warren challenges Treasury Secretary Jack Lew on “Too Big to F...

Fri, 24 May 2013 00:15:38 GMT

Source: www.facebook.com --- Thursday, May 23, 2013
Senator Elizabeth Warren challenges Treasury secretary Jack Lew on “Too Big to Fail/Too Big to Jail” (Video courtesy of Senator Elizabeth Warren’s office) In Brief inbrief.nwprogressive.org Senator Elizabeth Warren challenges Treasury secretary Jack Lew on “Too Big to Fail/Too Big to Jail” (Video courtesy of Senator Elizabeth Warren’s office) ...

Treasury Secretary Jack Lew Is Planning to Steal Selected Federal Retirement Account

Thu, 23 May 2013 22:41:00 GMT

Source: portland.indymedia.org --- Thursday, May 23, 2013
If that don't tick you off NOTHING WILL! Think of the Military Retirement Benefits, Fraternal Order of Police,....You thinking!? ======================================================================================================== ...

Treasury Secretary: ‘We are overachieving on deficit reduction’

Thu, 23 May 2013 14:00:07 GMT

Source: washingtonexaminer.com --- Thursday, May 23, 2013
Joel Gehrke Treasury secretary Jack Lew told Congress that President Obama’s administration is “overachieving on deficit reduction,” as he defended the president for submitting a budget that never balances. “If anything, we are overachieving on deficit reduction right now, given where we are in terms of the current year and immediate economic needs,” Lew told Rep. Read more on WashingtonExaminer.com ...

US Treasury secretary says he has begun tapping federal retiree pension fund to avoid default

Thu, 23 May 2013 01:12:41 GMT

Source: www.blacklistednews.com --- Wednesday, May 22, 2013
Treasury secretary Jacob Lew said late Monday he will begin tapping into two government employee retirement funds to buy more time before the U.S. Treasury is faced with the prospect of defaulting on the national debt. ...

Rep. Ed Perlmutter to Treasury Secretary: Keep scrutinizing tax-exempt groups, but do it impartially

Wed, 22 May 2013 22:52:57 GMT

Source: blogs.denverpost.com --- Wednesday, May 22, 2013
Rep. Ed Perlmutter , D-Jefferson County, encouraged U.S. Treasury secretary Wednesday to continue to scrutinize groups applying for tax-exempt status, but do it impartially. WASHINGTON — Rep. Ed Perlmutter urged U.S. Treasury secretary Wednesday to continue scrutinizing groups applying for tax-exempt status under the 501(c)4 tax code, but do it fairly. Perlmutter, D-Jefferson County, is a member of the House Financial Services Committee, which heard testimony Wednesday from secretary Jack Lew on the Internal Revenue Service scandal. Last week, the Department of the Treasury’s Office of Inspector General found that the IRS was purposefully scrutinizing conservative groups applying for tax-exempt status from 2010 to 2012. A handful of Colorado groups were included in that mix. Perlmutter said “despite the recent tempest” the IRS should continue to scrutinize groups applying for tax-exempt status. “I would ask the IRS to continue, in an impartial way, to look at these exemptions,” he said, at the hearing Wednesday. “Most Americans are paying their taxes, but certain groups are seeking exemptions under 501(c)(4) of the tax code just to avoid disclosing political donors – not because they are ‘exclusively for operation of social welfare’ or their ‘net earnings are for charitable education or recreation purposes’. The IRS needs to clearly define the amount of political activity allowed and set criteria and standards to responsibly and ...

Elizabeth Warren Puts New Treasury Secretary On Notice

Wed, 22 May 2013 15:00:00 GMT

Source: crooksandliars.com --- Wednesday, May 22, 2013
I sure hope Jack Lew got the message loud and clear. Senator Elizabeth Warren is not going to allow him to mollycoddle banks the way Tim Geithner did. In Wednesday's Senate hearing, she asked him a few pointed questions intended to send a very straightforward message . Warren began by speaking about a string of scandals that emerged as a result of the continued existence of "too big to fail banks." Despite this evidence and the fact that many officials have admitted the dangers to the economic system posed by big banks, Warren noted that various members of President Barack Obama's administration have appeared unwilling to prescribe concrete measures to address them. She then pointed specifically to a quote from a Treasury official during former Treasury secretary Tim Geithner's tenure that suggested the department had been instrumental in scuttling an earlier bipartisan amendment that would have enacted restrictions on "too big to fail." About those banks considered "too big to fail"? Warren put Lew on the hot seat . "Have you changed your position?" Warren demanded, referring to the Treasury department. "Or are you still opposed to capping the size of banks?" Lew responded that "ending to big to fail is our policy and we're aiming to do it." But Warren wouldn't let him weasel out of the question with generalities. "I want to focus you in here," she pushed. "My question is about capping the size of largest financial institutions. ...

Ranking Member Waters' Opening Statement at Today's Hearing with Treasury Secretary Lew

Wed, 22 May 2013 07:00:00 GMT

Source: democrats.financialservices.house.gov --- Wednesday, May 22, 2013
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VIDEO: Elizabeth Warren Grills Treasury Secretary On Too Big To Fail

Wed, 22 May 2013 00:03:11 GMT

Source: www.motherjones.com --- Tuesday, May 21, 2013
At a Senate banking committee hearing Tuesday, Sen. Elizabeth Warren (D-Mass.) grilled Treasury secretary Jack Lew on too-big-to-fail banks—financial institutions that are so large that their failure would endanger the entire financial system. "How big do the biggest banks have to get before we consider breaking them up?” she asked. Too big to fail is far from over. The largest financial institutions are still ballooning in size . In the past few years, banks have been beset by one scandal after another—from money laundering , to rate-fixing , to foreclosure fraud , and have mostly received wrist-slaps as punishment—probably because, as Attorney General Eric Holder recently warned , prosecuting too-big-to-fail banks for bad behavior might spook the entire financial system. Too big to fail almost died three years ago. Warren noted that as the 2010 Dodd-Frank financial reform law was being crafted, an amendment was proposed that would have broken up the banks, but it didn't pass—in large part, she reminded Lew, because the Treasury Department (then under Treasury secretary Timothy Geithner) was against it. "Have you changed your position," Warren demanded, referring to the Treasury department. "Or are you still opposed to capping the size of banks?" Lew responded that "ending to big to fail is our policy and we're aiming to do it." But Warren wouldn't let him weasel out of the question with generalities. "I want to focus you in her ...

Treasury Secretary Jack Lew Defends Handling of IRS Scandal

Tue, 21 May 2013 21:32:26 GMT

Source: www.eastidahonews.com --- Tuesday, May 21, 2013
Official White House Photo by Pete Souza(WASHINGTON) -- Treasury secretary Jack Lew called the unfair scrutiny the Internal Revenue Service gave some tea party groups “outrageous methods,” adding that while the “conduct was not politi... ...

Treasury Secretary Calls IRS Actions Unacceptable, Inexcusable

Tue, 21 May 2013 17:56:35 GMT

Source: www.kwtx.com --- Tuesday, May 21, 2013
Treasury secretary Jacob Lew says the IRS’ targeting of conservative political groups was “unacceptable and inexcusable.” ...

Treasury Secretary: Raise the Debt Ceiling; It’s “Not Open to Debate”

Mon, 20 May 2013 15:27:34 GMT

Source: minutemennews.com --- Monday, May 20, 2013
Here we are at the debt limit again, and the new Treasury secretary Jack Lew is urging Congress to go ahead and approve a higher limit so that Congress can continue to borrow money whenever [...] ...

US Treasury Secretary urges Congress to quickly raise borrowing limit

Sun, 19 May 2013 12:59:57 GMT

Source: topnews.us --- Sunday, May 19, 2013
Jacob-Lew.jpg US Treasury secretary Jacob Lew on Friday urged the Congress to take swift action and raise the limit of borrowing to ensure confidence in the government’s capability to fund itself and make payments to its creditors. read more ...

Former Assistant US Treasury Secretary Paul Craig Roberts on the eleven years of US wars

Sun, 19 May 2013 09:36:41 GMT

Source: revolutionradio.org --- Sunday, May 19, 2013
If you want to go to heaven, you had better get busy overthrowing Syria — Paul Craig Roberts If we don’t do what Israel tells us God requires, we are finished. That’s for sure. Paul Craig Roberts Veteransnewsnow.com Friday, May 17th, 2013 The United States government has been at war for eleven years. The US [...] ...

Treasury Secretary Demands Debt Hike

Sat, 18 May 2013 19:32:14 GMT

Source: nation.foxnews.com --- Saturday, May 18, 2013
(The Hill) Treasury secretary Jack Lew on Friday urged congressional leaders to raise the debt limit and insisted that the White House is not going to negotiate over the increase because lawmakers have "no choice." "We will not negotiate over the debt limit," Lew wrote. "The creditworthiness of the United States is non-negotiable. The question of whether the country must pay obligations it has already incurred is not open to debate." ...

U.S. to reach debt limit Saturday: Treasury Secretary Lew

Sat, 18 May 2013 05:50:01 GMT

Source: www.marketwatch.com --- Friday, May 17, 2013
U.S. to reach debt limit Saturday: Treasury secretary Lew ...

Treasury Secretary Told of IRS Probe in March, Learned Details Last Week

Fri, 17 May 2013 21:52:28 GMT

Source: abcnews.go.com --- Friday, May 17, 2013
Treasury secretary Jack Lew was first informed in March that there was an investigation into the IRS’ screening of nonprofit groups, but did not learn the details of that probe until last week, he said today. “In mid March, I had had a conversation, just a getting-to-know-you conversation, with the inspector general right after I started, and he went through a number of items that were matters they were working on. And the topic of a project on the 501c3 issue was one of the things he briefed me was ongoing,” Lew said in an interview on Bloomberg’s “Political Capital with Al Hunt.” “I didn’t know any of the details of it until last Friday,” said Lew, who was sworn in on Feb. 28. “When I learned about it – from the moment I learned about it, I was outraged,” he said. According to Lew, his predecessor had a similar “heads-up.” Asked if Tim Geithner was aware of the investigation, Lew told Hunt, “Yes. I have to assume, as I was aware of the fact of the matter being subject to a review. That’s very different from the substance of the findings.” Lew said that the information he received was “public knowledge.” “It was posted on the IG’s website in the fall of 2012,” he said. “I believe that … is typically the practice: that an inspector general notify the agencies when matters are opened.” The Treasury inspector general for tax administration, J. Russell George, told lawmakers today that he informed the Treasury Department’s general ...

Treasury Secretary Jack Lew Says He Learned Of IG Report in March

Fri, 17 May 2013 21:51:00 GMT

Source: www.hapblog.com --- Friday, May 17, 2013
So, Jack Lew learned the 'substance' of the IG report last Friday when it hit the news, but Lew had a 'get to know you' conversation with the Inspector General in March and the IG went through a 'number of items/matters they were working on' and presto, one of those items was the 501(c)3 issue. When he learned the details, of course then he was outraged. Al Hunt asks him a direct question here, did Tim Geithner know? Did the WH counsel know? Lew doesn't answer. Hunt asks again. HUNT: We’re going to get to larger economic questions in a little bit, but first the IRS, which reports to Treasury. When were you first notified that IRS agents were targeting conservative groups like the Tea Party? LEW: Al, I learned the substance of this report last Friday when it became a matter of public knowledge. Before that, in mid March, I had had a conversation, just a getting-to-know-you conversation, with the inspector general right after I started, and he went through a number of items that were matters they were working on. And the topic of a project on the 501c3 issue was one of the things he briefed me was ongoing. I didn’t know any of the details of it until last Friday. When I learned about it – from the moment I learned about it, I was outraged. ...

Treasury Secretary On IRS Scandal: ‘I’ve Always Thought Of Auditors As Your Partners’

Fri, 17 May 2013 21:32:05 GMT

Source: www.mediaite.com --- Friday, May 17, 2013
This quote is certain to quell the outcry over the Internal Revenue Service flagging conservative groups for added scrutiny when applying for tax-exempt status. Treasury Sec. Jack Lew told a Bloomberg TV anchor on Friday that auditors are actually their helpful “partners” who are there to help you fix problems. Problems like you or your group’s inconvenient political values. Weighing in on the scandal surrounding the admission by IRS officials that they applied undue scrutiny to applications for tax-exemption status by conservative group, Lew said that he learned of the scandal in mid-March, when he came on as the permanent replacement for former Treasury Sec. Timothy Geithner . “I learned the substance of this report last Friday when it became a matter of public knowledge,” Lew said of the Inspector General’s report on IRS abuses. Lew said that he had a conversation with the Inspector General in mid-March. “The topic of a project on the 501(c)(3) issue was one of the things he briefed me was ongoing,” Lew added. “I didn’t know any of the details of it until last Friday.” RELATED: NBC’s Luke Russert: IRS Official ‘Winging This’ In Testimony, Saying ‘Hey, I’m The Fall Guy For This’ When asked if his predecessor or any other Treasury officials knew of the substance of the IG’s report, Lew said that he was not aware. “I have to assume that, as I was aware of the fact of the matter being the subject of review, that’s very different f ...

Debt limit unlikely to be hit till after Labor Day, Treasury Secretary advises

Fri, 17 May 2013 21:22:23 GMT

Source: blogs.mcclatchydc.com --- Friday, May 17, 2013
Any confrontation over the nation’s debt ceiling is now unlikely till after Labor Day. The government is expected to hit the debt ceiling this weekend, but Treasury secretary Jack Lew said in a letter Friday that “extraordinary measures” would likely... ...