ECONOMY/NOMINATIONS/TREASURY/TRUMP PEOPLE/DAVID MALPASS: “The Trump administration’s nominee to be Washington’s top financial diplomat, ex-Bear Stearns chief economist David Malpass, will advocate an America-first revision of the world’s economic architecture when senators review his nomination Wednesday [6-7-17]. Mr. Malpass, a former senior official in the Reagan and George H.W. Bush administrations, has long been critical of […]
Category: Treasury
5/24/2017
BUDGET/TREASURY/TRUMP AS PRESIDENT/TRUMP PEOPLE/STEVE MNUCHIN: “Trump administration officials, testifying on Capitol Hill Wednesday [5-23-17] on their 10-year budget plans, pointed to a more pressing fiscal problem: They could run out of room to pay the government’s bills within the next few months. Treasury Secretary Steven Mnuchin asked Congress to raise the debt limit—which risks shutting […]
5/23/2017
INTELLIGENCE/LEGAL/RUSSIA/TREASURY: “Sen. Mark Warner, the vice chairman of the Senate intelligence committee, said Tuesday [5-23-17] that the Treasury Department has not fully complied with his committee’s requests for documents relevant to its probe into Russian meddling in the US election. He and committee Chairman Richard Burr, R-North Carolina, sent a request for documents last month […]
5/19/2017
TERRORISM/TREASURY/YEMEN: “The Treasury Department imposed sanctions Friday [5-19-17] on two Yemen-based tribal leaders who it says ‘facilitated the transfer of weapons and money and the movement of individuals’ in support of of the terrorist group al Qaeda in the Arabian Peninsula. ‘As a result of today’s action, all property and interests in property of these […]
5/18/2017
CABINET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “U.S. Treasury Secretary Steven Mnuchin on Thursday [5-18-17] pledged to treat ‘very seriously’ any business dealings President Donald Trump or his family might have with foreign companies flagged by officials as national security risks. Mnuchin did not say any such cases existed. A senior Democrat pressed Mnuchin, in an appearance before senators, […]
5/18/2017
BANKING/CABINET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “In 2008, as the financial crisis swirled, the federal government rushed Fannie Mae and Freddie Mac into conservatorship. The two giant mortgage-finance companies became wards of the state under a new regulator that would manage their affairs until they were healthy enough to stand on their own. Nearly nine years later, they’re […]
5/18/2017
CABINET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “Treasury Secretary Steven Mnuchin will tell lawmakers Thursday [5-18-17] the administration’s goal of achieving sustainable economic growth of 3% or higher is reachable ‘if we make historic reforms to both taxes and regulation.’ In brief prepared testimony to be delivered to the Senate Banking Committee, Mr. Mnuchin also reiterated the Trump administration’s […]
5/12/2017
CONFLICT OF INTERESTS/POLITICS/TREASURY: “A Treasury Department unit that specializes in combating money-laundering will share financial records with an expanding Senate probe into possible ties between Russia and President Donald Trump and his associates, according to people familiar with the matter. The Senate Intelligence Committee requested the records from Treasury’s Financial Crimes Enforcement Network, or FinCEN, […]
5/7/2017
ECONOMY/TAXES/TREASURY/TRUMP AS PRESIDENT: “Two of the most powerful economic forces in Washington could be aligning in coming years to put considerable upward pressure on long-term interest rates. President Donald Trump is flirting with tax and spending plans that could widen the budget deficit, just as the Fed flirts with plans to shrink its $4.5 trillion […]
5/4/2017
RELIGION/TREASURY/TRUMP EXECUTIVE ORDERS: “By the authority vested in me as President by the Constitution and the laws of the United States of America, in order to guide the executive branch in formulating and implementing policies with implications for the religious liberty of persons and organizations in America, and to further compliance with the Constitution and […]
5/3/2017
BUDGET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “A key advisory committee at the Treasury Department has advised that Treasury Secretary Steven Mnuchin’s idea to create 50-year and 100-year U.S. bonds is unlikely to be successful. The Treasury’s Borrowing Advisory Committee, composed of representatives from some of the largest financial institutions that participate heavily in the bond market, told the […]
4/29/2017
ATTORNEY GENERAL/COMMERCE/ECONOMY/MANUFACTURING/SECRETARY OF STATE/TAXES/TREASURY/TRUMP EXECUTIVE ORDERS/WORLD TRADE ORGANIZATION (WTO): “By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy. Every trade agreement and investment agreement entered into by the United States, and all trade relations and […]
4/21/2017
DODD-FRANK/TREASURY/TRUMP MEMORANDA: “Presidential Memorandum for the Secretary of the Treasury Orderly Liquidation Authority Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law 111-203 (the “Dodd-Frank Act”), established an Orderly Liquidation Authority (OLA). Using OLA, the Secretary of the Treasury (Secretary) may place a financial company in receivership and initiate liquidation […]
4/21/2017
TAXES/TREASURY/TRUMP EXEC ORDERS: ” ‘Identifying and Reducing Tax Regulatory Burdens’ The order directs Secretary of Treasury Steve Mnuchin to review within 60 days all tax regulations put in place in 2016 and 2017 that put an ‘undue financial burden on United States taxpayers.’ Within 150 days, Mnunchin will submit a plan to the president detailing […]
4/21/2017
CABINET/RUSSIA/TREASURY/TRUMP PEOPLE/STEVE MNUCHIN: ” ‘The Treasury Department will not be issuing waivers to U.S. companies, including Exxon, authorizing drilling prohibited by current Russian sanctions,’ Treasury Secretary Steven Mnuchin, said in a statement Friday. Mnuchin said he consulted with President Trump on the decision. Exxon had applied for a waiver from sanctions imposed by the Obama […]
4/21/2017
IRS/TAXES/TREASURY/TRUMP EXECUTIVE ORDERS: “By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy. The Federal tax system should be simple, fair, efficient, and pro-growth. The purposes of tax regulations should be to bring clarity to the […]
4/20/2017
CABINET/TAXES/TREASURY/TRUMP AS PRESIDENT/TRUMP PEOPLE/STEVE MNUCHIN: “Treasury Secretary Steven Mnuchin said Thursday [4-20-17] the Trump administration plans to release its tax reform proposal ‘very soon’ and promised that a sweeping overhaul of the tax code will get done. Speaking at a conference of international financial firms in Washington, Mr. Mnuchin said Treasury is ‘pretty close to […]
3/31/2017
DHS/TRADE DEALS/TREASURY/TRUMP EXEC ORDERS: ” ‘Establishing Enhanced Collection and Enforcement of Anti-Dumping and Countervailing Duties and Violations of Trade and Customs Law’ The order directs the secretary of homeland security to develop a plan within 90 days to combat two types of non-trade barriers placed against the U.S.: anti-dumping and countervailing duties. The order also […]
3/31/2017
AGRICULTURE/COMMERCE/DEFENSE/DHS/ECONOMY/FOREIGN POLICY/MANUFACTURING/NATIONAL SECURITY/SECRETARY OF STATE/TREASURY/TRUMP EXECUTIVE ORDERS/WORLD TRADE ORGANIZATION (WTO): “By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to ensure the informed exercise of the authority over international trade granted to me by law, it is hereby ordered as follows: […]
3/28/2017
CABINET/CONFLICT OF INTEREST/ETHICS/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “The top Democrat on the Senate Finance Committee asked the government ethics watchdog on Monday to review comments by Treasury Secretary Steven Mnuchin plugging ‘The Lego Batman Movie,’ a film one of his companies produced, for a possible ethics violation. In a letter to Office of Government Ethics Director Walter […]
3/24/2017
CABINET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “Treasury Secretary Steven Mnuchin said the Trump administration is close to completing its proposal to overhaul the U.S. tax code and said any legislation to reduce corporate and individual rates needed to be comprehensive. ‘We’re not cutting this up and doing little pieces at a time,’ he said at an event in […]
3/16/2017
NATIONAL DEBT/OBAMA/POLITICS/TREASURY/TRUMP AS PRESIDENT: “The U.S. hit its debt limit again on Thursday [3-16-17]— a whopping $19.9 trillion this time — and the Treasury Department started using accounting maneuvers to buy Congress several months to raise it to avoid a potential federal government default. The statutory limit on borrowing has become a partisan flash point […]
3/08/2017
ECONOMY/TRADE DEALS/TREASURY: “The Trump administration plans to press Japan, Germany and other nations with which the U.S. has large trade deficits, to buy more U.S.-made commercial and military products as a way to boost jobs and reduce the nation’s $500 billion trade deficit. ‘Any country we have a significant trade deficit with needs to work […]
3/4/2017
CABINET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “What he said: In written testimony, Mnuchin denied that his former bank used ‘robo-signing’ to foreclose on homeowners. He wrote, ‘OneWest Bank did not *robo-sign* documents.’ What really happened: OneWest’s foreclosure practices included so-called robo-signings that pushed homeowners into foreclosure without proper review or due process. OneWest was one of many banks […]
2/22/2017
CABINET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “Treasury Secretary Steven Mnuchin, in an exclusive interview with The Wall Street Journal, said the strong U.S. dollar is a reflection of confidence in the U.S. economy and its performance compared with the rest of the world and was a ‘good thing’ in the long run. The comments, made in his first […]
2/21/2017
CABINET/TREASURY/TRUMP PEOPLE/STEVEN MNUCHIN: “U.S. Treasury Secretary Steven Mnuchin urged the International Monetary Fund [IMF] to use its surveillance powers to police the exchange-rate policies of its members, part of the Trump administration’s broader effort to challenge some of America’s biggest trading partners. Mr. Mnuchin told IMF Managing Director Christine Lagarde in a telephone conversation on […]
2/13/2017
CABINET/STEVE MNUCHIN/TREASURY: “Congratulations Treasury Secretary Steven Mnuchin! #ICYMI- watch here: https://t.co/RPsmw4yD7y https://t.co/K8tWLlXiYK” – Donald Trump, Twitter.com, Feb. 13, 2017 09:57pm […]
2/13/2017
CABINET/STEVE MNUCHIN/TREASURY: “Following a bruising confirmation battle that centered on his actions as head of Pasadena’s OneWest Bank, Wall Street executive Steven T. Mnuchin was narrowly confirmed by the Senate as Treasury secretary on Monday. Mnuchin becomes one of President Trump’s top Cabinet officers. He immediately faces a packed agenda. The wealthy hedge fund manager […]
2/9/2017
CABINET/STEVE MNUCHIN/TREASURY: “The newly christened ‘Mnuchin rule’ — the assurance given by the Treasury nominee Steven T. Mnuchin that ‘there would be no absolute tax cut for the upper class’ — seems as if it was made to be broken. Mr. Mnuchin initially made the statement during an interview on CNBC in November, after President […]
2/3/2017
FED/TREASURY/TRUMP EXECUTIVE ORDERS: “By the power vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy. It shall be the policy of my Administration to regulate the United States financial system in a manner consistent with the following principles […]
2/3/2017
CABINET/TREASURY/TRUMP PEOPLE/STEVE MNUCHIN: “President Trump’s Treasury secretary nominee, Steven Mnuchin, has been sued again by a film financier that accuses Mnuchin and others of fraud related to the collapse of movie and TV company Relativity Media. RKA Film Financing, in an amended complaint filed Thursday in New York County Supreme Court, renewed its claim that […]