U.S. Takes $9.7 Bil Hit in GM Bailout

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TweetYumPresident Obama loves taking credit for saving the American auto industry and this week a federal audit reveals that the rescue effort has fleeced U.S. taxpayers out of an astounding $ 9.7 billion. While this may seem inconceivable to most, the numbers don’t lie. The United States Treasury has recorded a $ 9.7 billion loss […]

Unholy Alliance: The Federal Reserve and the Treasury

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TweetYumBy Cassandra AndersonJune 14, 2012 The Federal Reserve and the Treasury are running a scam that funnels freshly-printed money from the Fed into the Treasury, using Freddie Mac and Fannie Mae as the pipeline.  Freddie Mac and Fannie Mae were taken over by the government and put into conservatorship in the 2008 bailout.  Freddie Mac […]

U.S. will hit debt ceiling on Monday, Treasury Secretary Geithner warns

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TweetYumTreasury Secretary Timothy F. Geithner said his department will take “extraordinary measures” to postpone a U.S. default for about two months while President Barack Obama and Congress work out a deficit-reduction deal. Geithner, in a letter to congressional leaders today, said the government will hit its statutory debt ceiling on Dec. 31. To avert a […]

People who pay cash in hand are “morally wrong”, damaging the economy

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TweetYumIt is ’morally wrong’ to pay tradesmen cash in hand, says David Gauke. David Gauke, a Treasury minister, told The Daily Telegraph that home owners who allow workmen to evade VAT or income tax were forcing others to pay more. His comments reflect growing concern in Whitehall about the cash-in-hand economy, which costs Britain billions […]

Lawmakers reworked financial portfolios after talks with Fed, Treasury officials

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TweetYumShareThis Lawmakers reworked financial portfolios after talks with Fed, Treasury officials 24 Jun 2012 In January 2008… the subprime mortgage industry was collapsing, and the Dow Jones industrial average had lost more than 2,000 points in less than three months. House Minority Leader John A. Boehner became the Bush administration’s point person on Capitol Hill […]