Obama looting the Treasury to pay off insurers

UnitedHealthcare and Aetna insurers are losing billions trying to sell ObamaCare plans. In 2014, the WH tried to avert disaster by promising insurers a taxpayer-funded bailout, but public outrage and quick action by Sen Marco Rubio put a stop to it.
Read more at the New York Post Read More......

Ponzi: Treasury Issues $1T in New Debt in 8 Weeks—To Pay Old Debt

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 pay off old debt that matured.

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Lest we become bankrupt...

“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero – 55 BC
(Hat tip: Shawn/OC) Read More......

A hundred billion dollar printing error has Geithner's name on it

12/7/2010 - The $100bn blunder: Fed forced to 'quarantine' one billion $100 bills after printing error makes them worthless. Read more at the Daily Mail or at CNBC... Read More......

When Will Our Progressive Corporatism Nightmare End?

HERITAGE/FOUNDRY, 10/22/2010 - $154 billion. That is the amount of taxpayer money that will be needed to bail out Fannie Mae and Freddie Mac according to a new "stress test" performed by the Federal Housing Finance Agency. And that is the good news. If the economy dips into a second recession and foreclosures rise, the Fannie and Freddie bailout could nearly double in size. The agency, which oversees Fannie and Freddie, released the numbers "to inform public debate about the future of the two companies" ahead of expected Obama administration proposals slated for early next year. But if you are hoping for major policy changes from this administration, don't hold your breath. Read more at the Foundry... Read More......

Glenn Beck: Why Goldman Sachs Is The Evil Empire!

7/15/2009 Read More......

TARP watchdog says Treasury lacking bank data

THE HILL.com, 7/19/2009 by Silla Brush - The top watchdog over the financial bailout package said the Treasury Department is rejecting "common sense" by not requiring banks receiving billions of dollars in government money to say how they are using the money. Read more at The Hill... Read More......

Breitbart: Treasury, key lawmaker differ on risk overseer

WASHINGTON (AP), 6/5/2009 - The Obama administration and House Financial Services Committee Chairman Barney Frank are at odds over how the government can best spot potential institutional meltdowns that could spread and put the nation's financial system at risk. ∴ The differences between Treasury Secretary Timothy Geithner and Frank, a key and influential congressional voice on banking, come as the administration prepares to send Congress a package of proposed regulatory changes designed to avert the crisis that struck the financial sector last year. ∴ Frank is promoting a plan to create a council of regulators, chaired by the Federal Reserve, that would identify financial behavior that could have negative systemwide consequences and would require institutions to reduce their level of risk, according to people who have been briefed on Frank's thinking. ∴ Geithner and the Federal Reserve have been pushing for the Federal Reserve to be the sole authority overseeing so-called systemic risk. But many lawmakers and some regulators believe such exclusive power would undermine other agencies that watch over financial institutions and give too much authority to the independent central bank. Read more at Breitbart... Read More......

Geithner 'open' to China proposal

POLITICO, 3/25/2009, Ben Smith's Blog - Geithner, at the Council on Foreign Relations, said the U.S. is "open" to a headline-grabbing proposal by the governor of the China's central bank, which was widely reported as being a call for a new global currency to replace the dollar, but which Geithner described as more modest and "evolutionary."

"I haven’t read the governor’s proposal. He’s a very thoughtful, very careful distinguished central banker. I generally find him sensible on every issue," Geithner said, saying that however his interpretation of the proposal was to increase the use of International Monetary Fund's special drawing rights -- shares in the body held by its members -- not creating a new currency in the literal sense.

"We’re actually quite open to that suggestion – you should see it as rather evolutionary rather building on the current architecture rather than moving us to global monetary union," he said.

"The only thing concrete I saw was expanding the use of the [special drawing rights]," Geithner said. "Anything he’s thinking about deserves some consideration."

The continued use of the dollar as a reserve currency, he added, "depends..on how effective we are in the United States...at getting our fiscal system back to the point where people judge it as sustainable over time."

President Obama flatly rejected the notion of a new global currency at last night's press conference.

UPDATE: Evidently sensing a gaffe, moderator Roger Altman told Geithner that it would be "useful" to return to the question, and asked if he foresaw a change in the dollar's centrality.

"I do not," Geithner said, adding several forceful promises, including, "We will do what's necessary to say we're sustaining confidence in our financial markets." Read More......

Speculation: Why did Bush back TARP?

Shocker: Electronic Money Market Run Nearly Destroyed US Economy
Rush Limbaugh, February 10, 2008
U.S. REPRESENTATIVE PAUL KANJORSKI (D-PA): On Thursday [September 18, 2008] at about 11 o'clock in the morning the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States, to the tune of $550 billion was being drawn out in a matter of an hour or two. The Treasury opened up its window to help. It pumped $105 billion in the system and quickly realized that they could not stem the tide; we were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there. Read more at Rush Limbaugh (Hat tip: Hot Air)...



Relationship?

Caption: Obama at fund-raiser at Steven and Judy Gluckstern's home, April 9, 2007. George Soros is seated to the right of the stairs. (Photo [stitched]: Michael Edwards)
See NY Magazine article.

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Treasury chief Geithner sworn in

BBC News - Timothy Geithner was sworn in as US Treasury Secretary within hours of the Senate approving his nomination Monday despite personal tax lapses. The vote was 60-34. FWIW: Ten Republicans voted 'yes' and 3 Democrats voted 'no').
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Oddly, the 'Ethics' page at www.whitehouse.gov is being revised...

The ethics section is currently being revised to reflect President Obama's Executive Order concerning Ethics Commitments by Executive Branch Personnel, issued on January 21, 2009. Please check back soon.

Read More......

Action Alert: Tax evader for Treasury Secretary? I say "NO!"

MOVED TO TOP: PLEASE CALL EARLY MONDAY MORNING
If you have the time to call or send an e-mail to Senator Merkley or Senator Wyden, or both, that would be great.

Sen. Jeff Merkley, (202) 224-3753
Sen. Ron Wyden, (202) 224-5244

One person cannot change the future, but millions of people, sending millions of e-mails to their senators can make a huge difference.

Jeff Limón

The Senate Finance Committee Thursday (1/22) approved the nomination of Timothy Geithner for treasury secretary by an 18-5 vote (all 'no' votes were cast by Republicans), but his final confirmation before the full Senate has been delayed until next week (probably Monday, Jan. 26). Republicans seek to delve deeper into Mr. Geithner's personal finances and past policy decisions. Geithner failed to pay more than $34,000 in payroll taxes earlier in the decade.

The NY Times is tracking nominees and confirmations at 'The New Team'. Read More......