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Keyword: treasurydepartment

Brevity: Headers | « Text »
  • O'Neill Received Secret Papers Through Error, Not Wrongdoing

    03/23/2004 6:28:25 AM PST · by OESY · 16 replies · 551+ views
    Wall Street Journal ^ | March 23, 2004 | GLENN SIMPSON
    <p>WASHINGTON -- Sensitive national-security information was mistakenly released by the Treasury Department to former Treasury Secretary Paul O'Neill, but no criminal statutes were violated, records show.</p> <p>Mr. O'Neill drew on some of the material -- part of a cache of 19,000 documents -- for a memoir released in January that was critical of President Bush. When a document stamped "Secret" was displayed on a CBS "60 Minutes" episode concerning the book, the Treasury Department sought an investigation.</p>
  • SIGTARP: Excessive Pay at Bailed-Out GM

    09/30/2014 10:32:50 AM PDT · by jazusamo · 3 replies
    NLPC ^ | September 30, 2014 | Mark Modica
    A special inspector general report on compensation for executives at General Motors and Ally Financial blasts the Treasury Department for allowing excessive pay at the companies as taxpayers lost billions of dollars on the auto bailouts. The watchdog group issuing the report monitors the Troubled Asset Relief Program (TARP), which was set up to save financial corporations deemed "too big to fail" due to systemic risk to America's financial system. The program was expanded to allow for the bailing out of the auto industry, despite the questionable use of funds specifically designated for financial institutions. A NY Times piece...
  • Watchdog Says Treasury Let GM, Ally Give Executives Big Raises During TARP

    09/24/2014 10:52:26 AM PDT · by jazusamo · 12 replies
    Wall Street Journal ^ | September 24, 2014 | Alan Zibel
    Report Criticizes Treasury for Allowing Pay Packages Worth at Least $1 Million a YearWASHINGTON—The Treasury Department allowed General Motors Co. GM +0.69% and Ally Financial Corp. ALLY +0.43% to give big pay raises to top executives while the firms struggled to exit their federal bailouts, a federal watchdog said Wednesday. The report criticized the Treasury for allowing Ally and GM to pay compensation packages worth at least $1 million in 2013 for all 25 top executives at each company. The companies paid those executives an average of $3 million annually, an increase of 28% from 2009, the report found. The...
  • EPA's move to administratively garnish wages

    07/03/2014 2:21:23 PM PDT · by Outside da Box · 33 replies
    The Daily Signal ^ | 07/03/2014 | Robert Gordon
    Just in time for the Fourth of July, the Environmental Protection Agency (EPA) announced that it has added a new regulatory weapon to its arsenal. In a Federal Register notice on July 2 titled “Administrative Wage Garnishment,” the EPA stated that by the authority of the Debt Collection Improvement Act (DCIA ) of 1996 it issued a proposed rule that “will allow the EPA to garnish non-Federal wages to collect delinquent non-tax debts owed the United States without first obtaining a court order.” According to the Treasury Department, under DCIA, such debts include “unpaid loans, overpayments or duplicate payments made...
  • U.S. Takes $9.7 Bil Hit in GM Bailout

    10/29/2013 1:29:52 PM PDT · by jazusamo · 21 replies
    Judicial Watch ^ | October 29, 2013
    President 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 on its $49.5 billion bailout of General Motors, according to a report released this week by the Special Inspector General for the Troubled Asset Relief Program (TARP). Remember the $700 billion boondoggle created to help stabilize the nation’s financial system during the 2008 crisis by purchasing “toxic...
  • No, Failure To Raise Debt Ceiling Won't Cause Default

    10/10/2013 3:53:01 PM PDT · by jazusamo · 13 replies
    Investors.com ^ | October 10, 2013 | IBD Editorial
    Debt Talks: When Treasury Secretary Jack Lew repeatedly says the government has no choice in paying its bills if the debt ceiling is breached, he must surely know it's not true. So why say it? In a word, politics. As the nation's chief financial officer, the Treasury secretary has an enormous responsibility to shoot straight with the American public about the state of our finances. So does President Obama, for that matter. But when it comes to the political dispute over raising the debt ceiling from its current $16.7 trillion, Lew unfortunately has not leveled with us. Opting for political...
  • Obama Administration Still Stonewalling on Delphi Pension Scandal

    07/29/2013 1:32:44 PM PDT · by jazusamo · 13 replies
    NLPC ^ | July 29, 2013 | Mark Modica
    The lack of transparency from the Obama Administration continues as leaders of the House Oversight and Government Reform Committee continue to try and persuade the Treasury Department to hand over documents relating to the Administration's involvement in the termination of non-union Delphi retirees' pension benefits. Non-union Delphi retirees saw their benefits lost while unionized UAW retirees at the company had their benefits "topped off" and preserved with taxpayer dollars funneled through General Motors during the 2009 auto bailout process. Evidence surfaced about a year ago that the Obama Administration played a role, once again, in choosing winners and losers by...
  • Treasury: IRS targeted 292 Tea Party groups, just 6 progressive groups

    06/27/2013 8:02:10 AM PDT · by Beave Meister · 16 replies
    The Washington Examiner ^ | 6/27/2013 | PAUL BEDARD
    Refuting Democratic suggestions that progressive groups were also swept up in the IRS probe of the tax status of Tea Party organizations, the Treasury Department's inspector general has revealed that just six progressive groups were targeted compared to 292 conservative groups. In a letter to congressional Democrats, the inspector general also said that 100 percent of Tea Party groups seeking special tax status were put under IRS review, while only 30 percent of the progressive groups felt the same pressure. The Wednesday letter to the top Democrat on the House Ways and Means Committee punched a huge hole in Democratic...
  • Were Republicans Targeted in GM and Chrysler Dealership Closures?

    05/28/2013 9:10:31 AM PDT · by jazusamo · 46 replies
    NLPC ^ | May 28, 2013 | Mark Modica
    The IRS scandal that revealed targeting of conservative groups by the Treasury Department has reopened speculation that the Obama-orchestrated auto bailouts unfairly targeted Republican-leaning dealerships for closure. Republican Congressmen Mike Kelly (PA) and Jim Renacci (OH) have penned a letter to Treasury Secretary Jack Lew requesting documentation so that an investigation can determine what criteria was used to shutter dealers that appear to have had one thing in common: their political affiliations. The outrageous behavior of the IRS in targeting non-profit organizations with conservative roots, like the Tea Party, for extra scrutiny came at around the same time that General...
  • Ex-IRS Agent Sentenced to Prison in Murder-for-Hire Plot

    04/17/2013 6:25:48 PM PDT · by DogByte6RER · 4 replies
    Los Angeles Times ^ | April 13, 2013 | Tony Perry
    Ex-IRS agent sentenced to prison in murder-for-hire plot A former IRS agent who opened a tax preparation business was sentenced Friday to nearly 24 years in prison for defrauding clients out of more than $11 million and then attempting to hire a hit man to kill four of them. Steven Martinez, 51, of Ramona was sentenced in San Diego federal court to 286 months in prison and five years of supervised release. He was also ordered by District Court Judge William Hayes to forfeit all the property, including a home in Mexico, and other possessions that he purchased with clients'...
  • (Beam Me Up!) - IRS Calls 'Star Trek' Parody Video a Mistake

    03/23/2013 8:24:42 AM PDT · by DogByte6RER · 28 replies
    Orange County Register ^ | March 22, 2013 | STEPHEN OHLEMACHER
    <p>WASHINGTON (AP) — Nobody's going to win an Emmy for a parody of the TV show "Star Trek" filmed by Internal Revenue Service employees at an agency studio in Maryland.</p> <p>Instead, the IRS got a rebuke from Congress for wasting taxpayer dollars.</p>
  • After Call From Senator's Office, Small Hawaii Bank Got U.S. Aid

    06/30/2009 10:50:04 PM PDT · by FromLori · 6 replies · 431+ views
    Sen. Daniel K. Inouye's staff contacted federal regulators last fall to ask about the bailout application of an ailing Hawaii bank that he had helped to establish and where he has invested the bulk of his personal wealth. The bank, Central Pacific Financial, was an unlikely candidate for a program designed by the Treasury Department to bolster healthy banks. The firm's losses were depleting its capital reserves. Its primary regulator, the Federal Deposit Insurance Corp., already had decided that it didn't meet the criteria for receiving a favorable recommendation and had forwarded the application to a council that reviewed marginal...
  • Surprise! Treasury IG probing multi-million-dollar fraud in green-energy grants, tax credits

    12/14/2012 11:25:40 AM PST · by Ernest_at_the_Beach · 30 replies
    Hot Air ^ | 12:41 pm on December 14, 2012 | Ed Morrissey
    And the probe doesn’t involve some bit players in an obscure program, either.  The 1603 Program was one of the centerpieces of Barack Obama’s 2009 stimulus, designed to subsidize a transition from hydrocarbon-based energy to renewables in the residential market, and federal government sunk $13 billion into the effort.  Now the Inspector General of Treasury has opened a probe of the three largest providers of solar panel installations, who gained the most from the 1603 Program, and who may have fraudulently calculated their bills in order to claim more taxpayer cash: Three of the country’s most prolific installers of...
  • Former Obama auto czar, Treasury officials break in eleventh hour...

    07/10/2012 3:46:41 PM PDT · by Hotlanta Mike · 10 replies
    The Daily Caller ^ | 07/10/2012 | Matthew Boyle
    President Barack Obama’s former auto industry adviser and two former Treasury Department officials cracked at the last minute before a House oversight committee subcommittee hearing and agreed to stop stonewalling an investigation into alleged union favoritism during the administration’s General Motors bailout. Ron Bloom, Obama’s former auto czar, and former Treasury officials Matt Feldman and Harry Wilson have refused to give interviews to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) about their roles in topping up pensions for union workers while non-union workers lost nearly their entire pensions. The Treasury Department’s actions during the auto bailout...
  • Fed Audit Confirms Govt. Corruption In Solyndra Deal

    04/05/2012 1:20:18 PM PDT · by jazusamo · 5 replies
    Judicial Watch ^ | April 5, 2012
    The “serious concerns” of U.S. Treasury officials involving a risky $535 million infusion for a fly by night solar panel firm were ignored as the deal was fast-tracked by the Obama Administration, according to a federal audit released this week. Bankrolled by Obama fundraiser George Kaiser, the now-defunct northern California company (Solyndra) got more than half a billion dollars from the U.S. government to promote green energy. Instead, it abruptly folded last fall, stiffing American taxpayers and laying off more than 1,000 workers. From the start, it was a controversial deal that was suspiciously rushed through for a politically-connected...
  • Elizabeth Warren: I Created 'Occupy Wall Street'

    10/25/2011 8:52:20 AM PDT · by SeekAndFind · 38 replies
    Business Insider ^ | 10/25/2011 | Zeke Miller
    Massachusetts Senate candidate, consumer activist, and Wall Street Enemy #1 Elizabeth Warren took credit for the Occupy Wall Street movement in a new interview with The Daily Beast. “I created much of the intellectual foundation for what they do,” she told Samuel Jacobs. “I support what they do.” Warren, who was once a registered Republican, said she decided to enter politics because she realized “I can’t just leave this to people who are going to wreck the lives of millions of American families if they get the chance." Read full interview here
  • Warren: I 'created foundation' for OWS

    10/25/2011 8:37:46 AM PDT · by opentalk · 7 replies
    Politico ^ | October 24, 2011 | David Cananese
    Republicans who seek to tie Elizabeth Warren to the "Occupy Wall Street" protests are getting an assist from the candidate herself. The Democrat running for Massachusetts Senate tells The Daily Beast she created "much of the intellectual foundation for what they do," -- a clean and clear embrace of the movement that originated in Canada and has spread to cities across the country. It's a striking signal the Harvard professor is not afraid to be aligned with the protests the GOP is eager to portray as unorganized, reckless and outside the mainstream.
  • Hearing, Concern DOE Violated Law in Restructuring Solyndra Loan

    10/13/2011 8:51:16 PM PDT · by Rabin · 2 replies
    House Energy & Commerce. ^ | Thursday, October 13, 2011 | HE&C Staff
    WASHINGTON, DC – The Subcommittee on Oversight and Investigations will hold a hearing on “Continuing Developments Regarding the Solyndra Loan Guarantee” this Friday, October 14, 2011, at 9:30 a.m. in room 2123 of the Rayburn House Office Building. The committee recently learned that the Treasury Department was concerned that the Department of Energy’s restructuring of the Solyndra Loan in early 2011 was in violation of the law… Last Friday, committee leaders sent a letter to the Treasury Department seeking information and documents about the agency's involvement with the loan and its concerns…Friday as we’ll hear Treasury officials elaborate on their...
  • The Secret Government Bank That's Financing More Solyndras

    09/28/2011 12:33:34 PM PDT · by jazusamo · 32 replies
    Fox Business ^ | September 28, 2011 | Elizabeth MacDonald
    Sitting at the center of the Solyndra scandal is an off-balance-sheet bank at the Treasury Department that dates back to 1973. This little-known government bank, the Federal Financing Bank [FFB], had a zero balance in 2008 for green energy projects, but now, with little Congressional oversight, it is giving out billions of dollars in loans to White House pet projects often at dirt-cheap interest rates below 1%. In July alone, the government bank, which had $61 billion in assets, lent nearly three quarters of a billion dollars in taxpayer funds with no Congressional checks and balances. Plus the bank is...
  • Doomsday Scenario

    05/09/2011 9:53:46 PM PDT · by orsonwb · 22 replies
    Money and Markets ^ | May 9, 2011 | Dr. Martin Weiss
    onsider this doomsday scenario: Catastrophic impacts felt by every American. A broad range of government payments stopped, limited, or delayed, including military salaries, Social Security, and Medicare payments, interest on debt, unemployment benefits, and tax refunds. Sharply higher interest rates and borrowing costs, declining home values, and reduced retirement savings for Americans. In sum, a financial crisis more severe than the crisis from which we are only now starting to recover...
  • Deficit jumps 15.7% in first half of fiscal year

    04/13/2011 2:56:09 AM PDT · by Scanian · 14 replies
    The American Thinker Blog ^ | April 13, 2011 | Rick Moran
    Obama's Treasury Department is blaming TARP payments and other accounting quirks to explain the jump in the US deficit. But actually, it's more. AFP: "The Treasury reported a deficit of $829 billion for the October-March period, compared with $717 billion a year earlier, as revenue rose a sluggish 6.9 percent as the economic recovery slowly gained pace. The Treasury argued that the pace of increase in the deficit was deceptive because of large one-off reductions in expenditures made during the first half of fiscal 2010, compared with previous and subsequent periods. "Those included a $115 billion reduction in funds spent...
  • EDITORIAL: AMA vs. greedy lawyer--Doctors battle tax subsidy for jackpot justice

    09/07/2010 5:38:05 PM PDT · by jazusamo · 6 replies
    The Washington Times ^ | September 7, 2010 | Editorial
    A proposed special-interest tax break for plaintiffs' lawyers would add billions of dollars in federal spending and jack up costs to consumers. It's nothing more than a direct subsidy from taxpayers to ambulance chasers. That was the message of a strongly worded letter to Treasury Secretary Timothy F. Geithner from the American Medical Association, 42 national medical groups representing specialties such as radiology, cardiology and gastroenterology, and the medical associations of 47 states and the District of Columbia. The Treasury is considering an administrative ruling - as an end run around Congress - that would allow trial lawyers to take...
  • U.S. Treasury Site Compromise Linked to the NetworkSolutions Mass WordPress Blogs Compromise

    05/11/2010 12:15:07 AM PDT · by Cindy · 5 replies · 354+ views
    DANCHO DANCHEV - Blog ^ | May 4, 2010; Updated May 8, 2010 | Posted by Dancho Danchev
    TUESDAY, MAY 04, 2010 "U.S. Treasury Site Compromise Linked to the NetworkSolutions Mass WordPress Blogs Compromise" SNIPPET: "UPDATED: Saturday, May 08, 2010: 5 new domains have been introduced by the same gang, once again parked at 217.23.14.14, AS49981, WorldStream."
  • China top holder in US debt, after all

    02/28/2010 9:44:27 PM PST · by ErnstStavroBlofeld · 3 replies · 306+ views
    AFB via Terra Daily ^ | 2/27/2010 | AFB via Terra Daily
    China remained the top holder in the ballooning US debt last year, revised data showed, after earlier indications it had been eclipsed by Japan drew speculation about Beijing's motives. Revised data released late Friday by the Treasury Department indicated that while China had cut back on its bond holdings, the level was still well above that of Japan. China held 894.8 billion dollars in Treasury securities at the end of December, more than the 755 billion dollars estimated earlier in the month. But it was still down from a revised 929.0 billion dollars in November. Japan in December held 765.7...
  • Senator Daniel Inouye's "Favor" From TARP "

    06/30/2009 9:16:24 PM PDT · by Shellybenoit · 1 replies · 176+ views
    ProPublica/The Lid ^ | 7/1/09 | The Lid
    Back in January it was revealed that part of the TARP Program included giving some funds to a bank that was cited for bad buisness practices.The money was given as a favor to Congressman Barney Frank Frank, head of the powerful House Financial Services Committee, acknowledged that last fall he inserted into the government’s $700 billion Troubled Assets Relief Program bill specific language to help OneUnited, New England’s only black-owned bank. He also said he contacted someone at the Treasury Department about OneUnited’s application for emergency TARP funds, though he insisted he never asked Treasury to bend any rules on...
  • CNBC Asia Guest Host: U.S. Treasury is 'Wasting Money' with Bailouts

    03/16/2009 1:07:09 PM PDT · by Rufus2007 · 318+ views
    NewsBusters ^ | March 16, 2009 | Jeff Poor
    All the current outrage and attention to bonuses paid out to employees of institutions that received federal bailout money is misplaced, according to an analyst that appeared on CNBC Asia on March 16. The media is making much of the news that American International Group (AIG) executives are receiving compensation in the form of bonuses. But Kirby Daley, senior strategist at the Newedge Group explained how the focus was in the wrong place. Although some say allowing Lehman Brothers to fail in September 2008 was a mistake, it prevented the problem of taxpayer money being used for executive compensation. "I'm...
  • Another Obama CORRUPTION….. Treasury nominee failed to pay taxes.

    01/13/2009 3:49:54 PM PST · by Freefreq · 11 replies · 618+ views
    This was Obama’s pick to save the economic rescue effort for the country and the guy cant even pay his freaking taxes but Obama saw him fit to run the Treasury Department. It continues to get better and better as the days go by. President-elect Barack Obama’s choice to run the Treasury Department and lead the economic rescue effort disclosed to senators Tuesday that he failed to pay $34,000 in taxes from 2001 to 2004, a last-minute complication in an otherwise smooth path to confirmation. Timothy Geithner paid most of the past-due taxes days before Obama announced his nomination in...
  • Fed Bails Out Rich Arabs in Citigroup Deal

    11/25/2008 10:25:47 AM PST · by vietvet67 · 24 replies · 970+ views
    Canada Free Press ^ | November 25, 2008 | Cliff Kincaid
    For several days there was a fierce national debate over whether American car companies in Detroit deserved $25 billion of taxpayer money and whether American jobs should be saved. The automakers and a union representative were ridiculed, didn’t get the money, and were told to come up with a “plan” to save the companies. After backing the $700-billion Wall Street bailout, Bill O’Reilly of Fox News said Detroit didn’t deserve any federal money because the car companies had been mismanaged. This was a point made by many in the media. But Citigroup got $20 billion over the weekend from the...
  • Of Interventions and Conservative Principles (Good Discussion of Bailout Mess)

    09/23/2008 2:55:47 PM PDT · by mojito · 15 replies · 179+ views
    NRO ^ | 9/23/2008 | Donald Luskin
    What’s a principled conservative to think of the Bush administration’s proposed $700 billion authority to allow the U.S. Treasury buy illiquid securities? On the one hand it would appear to be a necessary step to solve a systemic crisis in the U.S. banking system. On the other, it promises to be an enormous expansion of government power and commitment of taxpayer dollars. To arrive at a principled view on this intervention, we must answer three critical questions: Is it necessary? Will it work? And even then, is it morally justifiable? Unfortunately, we are thwarted at the outset. There’s simply no...
  • Macau urges caution as US allegations spark run on North Korea-linked bank(feeling the pain)

    09/17/2005 3:13:32 AM PDT · by TigerLikesRooster · 8 replies · 437+ views
    Time is GMT + 8 hours Posted: 17 September 2005 1716 hrs Macau urges caution as US allegations spark run on North Korea-linked bank HONG KONG : Macau's political chief has moved to staunch a run on a bank accused by the United States of aiding illicit North Korean financial activity, fearing the scandal could wreck the city's banking sector. Chief Executive Edmund Ho urged caution amid a flurry of large withdrawals from Banco Delta Asia following allegations the lender had laundered money and helped North Korean customers distribute counterfeit US currency. "There is nothing to substantiate the rumours," Ho...
  • Who's Minding the Store?

    03/23/2005 3:48:55 AM PST · by infocats · 326+ views
    New York Times ^ | Published: March 23, 2005
    Don't be fooled by the location of the United States Treasury, right next door to the White House. The department has suffered a steady diminution of prestige and influence during the Bush administration, starting with the unceremonious firing of its first Treasury secretary, Paul O'Neill, less than two years into the job, in part for suggesting that deficits do, in fact, matter. Things have been downhill ever since. Last December, Republican power brokers made no bones about wanting to oust the current Treasury secretary, John Snow, only to find that the administration couldn't entice anyone better to take the job....
  • ATF Inspects Few Licensed Gun Dealers

    07/19/2004 4:18:10 PM PDT · by Euro-American Scum · 18 replies · 820+ views
    Yahoo News ^ | 07/19/2004 | CURT ANDERSON
    WASHINGTON - Only about 4.5 percent of the nation's federally licensed gun dealers are checked each year to ensure they comply with firearms laws, far below the goals set by the agency that does the exams, the Justice Department (news - web sites) said Monday. At that rate, it would take the Bureau of Alcohol, Tobacco, Firearms and Explosives 22 years to inspect all 104,000 federally licensed gun dealers, said a review by Glenn A. Fine, the Justice Department inspector general. ATF's goal is to check each dealer once every three years. ATF Director Carl Truscott said the agency's 420...
  • U.S. Insurer of Pensions Says Its Deficit Has Soared

    01/17/2004 5:18:05 PM PST · by neverdem · 8 replies · 206+ views
    NY Times ^ | January 16, 2004 | MARY WILLIAMS WALSH
    The federal agency that insures pension plans said yesterday that its deficit had grown from $3.6 billion to $11.2 billion in just a year and that it would try to deal with the escalating problem by overhauling its own investments, among other measures. The agency, the Pension Benefit Guaranty Corporation, said that two consecutive years of record failures by corporate pension plans and continuing adverse market conditions left it with a shortfall much greater than a year earlier, which had been the previous low point in the agency's 30-year history. People briefed on the new investment plan say the agency...
  • U.S. Freezes Assets of Suspected al-Qaeda member

    06/07/2003 6:17:00 AM PDT · by knighthawk · 1 replies · 232+ views
    Yahoo News ^ | June 07 2003
    WASHINGTON - The Treasury Department moved Friday to block the financial assets of Abdelghani Mzoudi, a suspected member of the al-Qaida cell in Germany that is believed to have planned the Sept. 11, 2001, terror attacks. Mzoudi is among the 17 new people — all foreigners — that the government added to its list of entities suspected of helping to bankroll Osama bin Laden's al-Qaida terror network. The action by Treasury's Office of Foreign Assets Control means that U.S. banks must block any assets found in the United States that belong to these people. Treasury said the 17 names have...
  • DOWN FOR THE COUNT (WHY INTEREST RATES MUST REMAIN LOW)

    05/27/2003 6:07:27 PM PDT · by shrinkermd · 7 replies · 162+ views
    Barron's ^ | 26 May 2003 | By RANDALL W. FORSYTH
    <p>IT'S AS IF YOU WOKE UP to find that a healthy breakfast consists of steak and eggs after sticking to bran muffins for years. That's the position the Federal Reserve now finds itself in. After a generation of fighting -- and defeating-inflation -- it's now confronting the possibility of the opposite problem. And as Fed Chairman Greenspan admitted to the Joint Economic Committee (JEC) of Congress last week, the monetary authorities neither thought that deflation was possible nor know much about how to fight it.</p>
  • Snow nomination delayed: Dispute over pension conversion blocks floor vote

    01/30/2003 11:39:15 AM PST · by GeneD · 179+ views
    CBS.MarketWatch.com ^ | 01/30/2002 | Rex Nutting
    WASHINGTON (CBS.MW) -- John Snow's nomination as Treasury secretary hit a roadblock Thursday after several Democratic senators delayed a final vote in a dispute over a controversial plan to convert the pensions of millions of Americans. The Senate Finance Committee unanimously approved Snow's nomination in a voice vote earlier Thursday. The bipartisan leadership of the committee said quick approval of Snow's nomination is essential to the economy. "The issues facing America's economy are too important for this to be delayed," said a Treasury Department spokesman. Senate Majority Leader Bill Frist said he hoped to bring Snow's appointment to a vote...
  • New Panel Would Assess Post Office

    12/11/2002 7:24:17 AM PST · by GeneD · 2 replies · 261+ views
    Filed at 10:04 a.m. ET WASHINGTON (AP) -- President Bush signed an order Wednesday creating a commission to explore the U.S. Postal Service's mission and operations during a time of increasing competition from private companies and challenges from new technology, including electronic commerce over the Internet. The commission, which would include members of the business community, would make recommendations to President Bush sometime next year, according to Postal Service official, who spoke on condition of anonymity. The panel's recommendations -- depending on their magnitude -- could result in the first major overhaul of the Postal Service since the early 1970s,...