July 25, 2008 |
Henry Paulson was supposed to bring a fresh dose of Wall Street to Washington. As it turns out, he's doing the very opposite. As Treasury secretary, he has become the Bush administration's point man and chief spokesman on a series of government interventions in the economy -- including the plan likely to be approved by Congress to put the full resources of the U.S. Treasury behind faltering home mortgage giants Fannie Mae and Freddie Mac.
May 2, 2008 |
The Federal Reserve has auctioned $24.12 billion in super-safe Treasury securities to big investment firms as part of an ongoing effort to ease credit problems. The auction -- the sixth of its kind -- was held Thursday and fetched bids slightly less than the $25 billion being made available. That small reduction could suggest that demand for Treasuries may be moderating a bit. That might be viewed as a sign of some improvement in credit conditions. In exchange for the 28-day loan of Treasury securities, bidding firms can put up more risky investments, including certain shunned mortgage-backed securities, as collateral.
March 29, 2008 |
The Bush administration is proposing a sweeping overhaul of the nation's financial regulatory system, combining what is now an alphabet soup of government agencies into three streamlined regulators. The proposal is the result of a year of study by Treasury Secretary Henry M. Paulson Jr. and has the support of the president, according to Treasury officials who spoke on condition of anonymity Friday.
November 21, 2007 |
The U.S. Treasury on Tuesday wouldn't comment on a report that it will float the idea of a value-added tax as an option to pay for reduced corporate income taxes. A report due soon from the Treasury discussing ways to make the U.S. business tax structure more competitive will include a VAT, or national sales tax, CNBC reported, citing an unnamed Treasury official.
October 10, 2007 |
Calistoga, Calif. IT was like a scene out of "High Noon." The mid-September grand opening party at Calistoga Cellars in downtown Calistoga was well underway when two dozen grape growers, the dirt from harvest still clinging to their jeans, gathered outside the tasting room. They dropped a bucket of grapes by the front door with a sign reading "Real Calistoga Grapes for Sale," crossed their arms and waited. Calistoga Cellars owner Roger Louer didn't disappoint them.
August 5, 2007 |
The Treasury Department is considering a rule that would require companies to put alcoholic content, serving sizes and nutritional information on all alcoholic drink packaging. According to the proposed rule, labels on all alcoholic beverages would include a statement of the drink's percentage of alcohol by volume. The labels would also include a "serving facts" panel, which would quantify the calories, carbohydrates, fat and protein for a standard serving size.
July 10, 2007 |
The Treasury Department auctioned $15 billion in three-month bills at a discount rate of 4.815%, up from 4.79% last week. An additional $14 billion in six-month bills was auctioned at the high discount rate of 4.85%, up from 4.81% last week. The return to investors is 4.956% for the three-month bills, with a $10,000 bill selling for $9,878.29, and 5.055% for the six-month bills, with a $10,000 bill selling for $9,754.81.
June 28, 2007 |
The Treasury Department on Wednesday announced a formal review of how the U.S. regulates financial markets amid concerns over competition from overseas trading capitals. Treasury Secretary Henry M. Paulson Jr. and Treasury Undersecretary Robert Steel, veterans of Goldman Sachs Group Inc., have said their goal is to "frame the debate" so that their successors can make changes. Steel has said what he calls a patchwork of regulators create problems for U.S. markets.
June 13, 2007 |
The top Democrat and Republican on the Senate Banking Committee said Tuesday that they would introduce legislation giving the Treasury Department stronger tools to confront China's currency practices. "A change in our currency manipulation policy is long overdue," Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.) said in a statement. "America's companies and workers deserve an opportunity to compete on fair terms with countries such as China." Dodd and Sen. Richard C.