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NEWS
June 23, 1999 | From Times Wire Reports
Lawrence Summers won a unanimous recommendation from members of the Senate Finance Committee to succeed Robert E. Rubin as Treasury secretary. At the same time, Summers, who is deputy Treasury secretary, got a warning that although approval of his confirmation by the full Senate is expected to come easily--probably before the end of next week--his subsequent dealings with Congress could be more contentious. "It doesn't guarantee that there won't be storm clouds down the road," said Sen. Paul S.
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NATIONAL
March 24, 2009 | Peter Nicholas and Peter Wallsten
The first time Treasury Secretary Timothy F. Geithner was sent out as point man to sell the Obama administration's financial rescue plan, the Dow Jones industrial average plunged 382 points. And Geithner's subsequent efforts as a center-stage spokesman were less than resounding successes. On Monday, the administration took a different approach.
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NEWS
May 13, 1999 | PETER G. GOSSELIN, TIMES STAFF WRITER
There was a time in Washington when the great power game was the exclusive domain of the secretary of State and the national security advisor, while the Treasury secretary was relegated to lesser pursuits. No more. In a post-Cold War world where the market is king and America's prosperity depends as much on events in Osaka as in Omaha, the job of being America's finance minister has been elevated to a status that only a Henry Kissinger or a George Kennan could truly appreciate.
BUSINESS
December 10, 2005 | From Associated Press
Federal investigators have concluded that Treasury Secretary John W. Snow did not violate conflict-of-interest rules in inadvertently investing in the bonds of two government-sponsored mortgage giants. Snow was a top executive at railroad company CSX Corp. before he became Treasury secretary in February 2003. As he prepared to move into the federal post, Snow has indicated, he instructed his advisor to invest in Treasury bonds to avoid any conflict of interest.
NEWS
June 20, 2001 | From Times Wire Reports
Treasury Secretary Paul H. O'Neill completed the sale of $100 million in stock and options in Alcoa Inc., nearly three months after he promised to sell the stock to avoid conflicts of interests. It took that long to complete the sale without affecting the market.
BUSINESS
August 16, 1998 | ART PINE, TIMES STAFF WRITER
When global financial markets took a dive last week, threatening to worsen the Asian economic slump, the man in the spotlight was Robert E. Rubin. For 13 months, the U.S. Treasury secretary has been calling the shots on Asia--and has won widespread kudos for it. Allen Sinai, a prominent Wall Street economist, unabashedly calls Rubin "the best Treasury secretary in American history"--"almost perfect" in managing both the domestic economy and the turmoil in emerging markets overseas.
NATIONAL
December 9, 2004 | Warren Vieth and Edwin Chen, Times Staff Writers
President Bush on Wednesday asked Treasury Secretary John W. Snow to stay on the job during his second term, ending more than a week of rampant speculation and high-level leaks that suggested the White House was ready to sack him. Snow, 65, will continue to serve as the nation's chief financial officer and leader of the president's economic team, making him the point man for selling Bush's ambitious plans to restructure Social Security and revamp the U.S. tax code.
NATIONAL
May 29, 2003 | From Times Wire Reports
Treasury Secretary John W. Snow is the nation's top money man, but he might need a refresher course on the greenbacks the United States makes these days. Snow chose the $500 bill when asked during an Internet interactive exchange what form of currency he would like his image on. "It has the least circulation," Snow said. "That way I wouldn't have to see myself too often." Oops. The U.S.
BUSINESS
December 10, 2005 | From Associated Press
Federal investigators have concluded that Treasury Secretary John W. Snow did not violate conflict-of-interest rules in inadvertently investing in the bonds of two government-sponsored mortgage giants. Snow was a top executive at railroad company CSX Corp. before he became Treasury secretary in February 2003. As he prepared to move into the federal post, Snow has indicated, he instructed his advisor to invest in Treasury bonds to avoid any conflict of interest.
BUSINESS
April 7, 1996 | JONATHAN PETERSON, TIMES STAFF WRITER
It was last summer, as Republicans sought to confront President Clinton over the budget, that a group of top U.S. officials began to ponder the unthinkable: a meltdown of the financial system, sparked by an unprecedented default of the U.S. Treasury. To the amazement of many, GOP hard-liners in the House seemed willing to risk such an event if the nation's debt limit wasn't raised on their own terms; at least some talked as if they were.
NATIONAL
December 9, 2004 | Warren Vieth and Edwin Chen, Times Staff Writers
President Bush on Wednesday asked Treasury Secretary John W. Snow to stay on the job during his second term, ending more than a week of rampant speculation and high-level leaks that suggested the White House was ready to sack him. Snow, 65, will continue to serve as the nation's chief financial officer and leader of the president's economic team, making him the point man for selling Bush's ambitious plans to restructure Social Security and revamp the U.S. tax code.
BUSINESS
October 8, 2003 | From Bloomberg News
President Bush opposes a U.S. House proposal that creates a new regulator for Fannie Mae and Freddie Mac because it doesn't give the Treasury secretary enough power to oversee the two largest U.S. mortgage buyers, a Treasury official said. The legislation would be a minimal improvement that wouldn't toughen oversight, said Wayne Abernathy, the Treasury's assistant secretary for financial institutions.
BUSINESS
September 11, 2003 | From Bloomberg News
Treasury Secretary John W. Snow on Wednesday told Congress that Fannie Mae and Freddie Mac, the largest buyers of U.S. mortgages, need tougher oversight and suggested that his department become their regulator. In three hours of testimony, Snow urged Congress to create a new government agency to monitor and supervise the companies' finances, including their total $1.5 trillion in debt.
NATIONAL
May 29, 2003 | From Times Wire Reports
Treasury Secretary John W. Snow is the nation's top money man, but he might need a refresher course on the greenbacks the United States makes these days. Snow chose the $500 bill when asked during an Internet interactive exchange what form of currency he would like his image on. "It has the least circulation," Snow said. "That way I wouldn't have to see myself too often." Oops. The U.S.
WORLD
May 23, 2002 | From Times Wire Services
Three days into their tour of Africa, U.S. Treasury Secretary Paul H. O'Neill and rock singer Bono staked out opposing positions Wednesday on whether private enterprise or more aid was best to help the world's most impoverished continent. As O'Neill's entourage, shepherded by Secret Service agents, pushed its way through the smiling throng in the teeming Makola market here in Ghana's capital, the Treasury chief said he saw all the signs of a potential business class.
NEWS
April 3, 2002 | WARREN VIETH, TIMES STAFF WRITER
Treasury Secretary Paul H. O'Neill notified Congress on Tuesday that he would begin tapping federal employee retirement funds this week to prevent the government from breaching its $5.95-trillion debt ceiling. In a letter to congressional leaders, O'Neill said he would stop investing retirement funds in Treasury securities beginning Thursday and place them in a non-interest-bearing account instead.
NEWS
December 11, 1992 | RONALD BROWNSTEIN, TIMES POLITICAL WRITER
As he announced the first members of his economic team Thursday, President-elect Bill Clinton made clear that the loudest voice in the new Administration's economic policy will be his own. With unusual force, Clinton stressed that, while he will look to his new team for advice, "in the end, I will make the ultimate decisions and be the ultimate arbiter."
BUSINESS
October 8, 2003 | From Bloomberg News
President Bush opposes a U.S. House proposal that creates a new regulator for Fannie Mae and Freddie Mac because it doesn't give the Treasury secretary enough power to oversee the two largest U.S. mortgage buyers, a Treasury official said. The legislation would be a minimal improvement that wouldn't toughen oversight, said Wayne Abernathy, the Treasury's assistant secretary for financial institutions.
NEWS
June 20, 2001 | From Times Wire Reports
Treasury Secretary Paul H. O'Neill completed the sale of $100 million in stock and options in Alcoa Inc., nearly three months after he promised to sell the stock to avoid conflicts of interests. It took that long to complete the sale without affecting the market.
BUSINESS
December 14, 2000 | James Flanigan
George W. Bush might not have much of a mandate after his narrow victory, but as president he will have a lot of power. So he will have a major impact on the economy and business in the next few years. To be sure, a sharply divided Congress, though nominally Republican, will probably give Bush trouble on major programs such as big tax cuts or Social Security reform.
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