Tag Archives: TREASURY

The Video That Will Put Geithner Behind Bars

You gotta see this! If this doesn’t convince you that Timothy Geithner knew about the securities shenanigans that were going on at Lehman, than I don’t know what will.

Keep in mind, that Geithner ran Lehman through 3 “stress tests” prior to bankruptcy; all of which Lehman failed, and yet, nothing was done. Anton R. Valukas–the examiner who wrote the 2,200 page investigative-report which was released on Thursday– has provided plenty of information detailing Lehman’s “materially misleading” accounting and “actionable balance sheet manipulation.”

In other words, they cooked the books

via The Video That Will Put Geithner Behind Bars | Economy | AlterNet.

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Filed under Big Government, Economics, Federal Reserve, Government Spending, Liberals, Tim Geithner, TREASURY, Treasury Bills, Treasury Bonds

The Chinese Central Banker Tells Obama Not To Expect China To Save Him

Some strategists are betting that China will hike the yuan in April…

But then, in response to Obama’s most recent call for a yuan hike, a Chinese central banker has come out and said this:

WSJ:

“We believe the yuan exchange rate issue will not help shrink or increase our trade surpluses and deficits (in the U.S. or China),” Mr. Su said on the sidelines of the meeting of the National People’s Congress.

“We don’t agree with politicizing the renminbi exchange rate issue,” Mr. Su said. “We also don’t agree with a country taking its own problems and having another country solve them.”

Keep in mind this is the man who famously said China’s U.S. treasury holdings were unsafe last year.

As George Soros has pointed out in the past, it might be best to act as if China doesn’t like to be told what to do. They’ll hike the yuan if its in their interest and that’s it. So the U.S. needs to show them how it is in their interest if the U.S. wants it to happen.

via The Chinese Central Banker That Loves To Scare America Tells Obama Not To Expect A Yuan Hike To Save Him.

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Filed under Barack Obama, China, DEFICIT, Economic Collapse, Economics, Federal Reserve, Government Spending, IMF, Progressives, United States of America, World News

Paul (TX14) – Press Releases – Congressman Paul Returns Over $100,000 to Treasury

For Immediate Release

March 1, 2010

Congressman Paul Returns Over $100,000 to Treasury

Washington, D.C. – Congressman Ron Paul has continued to run his Congressional office in a frugal manner, and was able to return more than $100,000 from his allotted office budget to the Treasury this year, an increase over the $90,000 returned last year.

“Since my first year in Congress representing the 14th district I have managed my office in a frugal manner, instructing staff to provide the greatest possible service to the people of the 14th district at the least possible cost to taxpayers,” said Paul.

via Paul (TX14) – Press Releases – Congressman Paul Returns Over $100,000 to Treasury.

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I SOOO LOVE THIS!  We need more elected officials to cut their spending! On a sad note,the 100k Returned by Congressman Paul will only cover 2/3 of the money Speaker Pelosi spent last year for BOOZE on the government jet she uses to shuttle herself and her family (sometimes just her family) to and fro from California.

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Filed under Budget, Economics, Government Spending, United States of America

Foreigners Dropping Treasury Securities at Record Rate

A record drop in foreign holdings of U.S. Treasury bills in December sent a reminder that the government might have to pay higher interest rates on its debt to continue to attract investors.

China reduced its stake and lost the position it’s held for more than a year as the largest foreign holder of Treasury debt.

Japan retook the top spot as it boosted its Treasury holdings.

The Treasury Department said foreign holdings of U.S. Treasury bills fell by a record $53 billion in December. That topped the previous record drop of $44.5 billion in April 2009.

Private analysts, though, were split over the significance of the decline.

Some doubted that the drop in foreign holdings of short-term Treasuries signified growing unease about holding U.S. debt. They noted that net purchases of longer-term Treasury debt rose in December by $70 billion.

But other economists saw the decline as a warning signal.

They fear that foreigners, especially the Chinese, have begun to worry about record-high U.S. budget deficits and are looking to diversify their holdings.

A sustained drop in foreign demand for dollar-denominated assets could lead to higher U.S. interest rates and falling stock prices.

Those trends could threaten the U.S. recovery. But economists said they see no such evidence yet.

The Treasury report showed that China reduced its holdings of Treasury securities by $34.2 billion in December.

Alan Meltzer, an economics professor at Carnegie Mellon University, said China’s shift should be a wake-up call for Washington.

via Moneynews – Foreigners Dropping Treasury Securities at Record Rate.

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Filed under Big Government, Federal Reserve, Government Spending, Governmental Agencies, Liberals, World News