treasury number. i know that of the $475 million, 261 has been spent by our department. the rest is our partners in terms of treasury dollars have -- we have transferred $210 million to the treasury department in terms of how they have allocated those funds, i cannot answer that question. >> that was my next question. do you require from them to provide you with the allegatioc number? >> yes, we do. >> when do you expect those? >> i would be happy to get you that answer in writing. i know it is $210 million. i will give you the detailed report. we get a quarterly report from them. in terms of how they are expending and what dollars. i would be happy to answer that. >> they are your partners on this. they are the enforcers who will mandate. it is important that you share that information with the committee. last year, you were asked whether section 1311-h of affordable care act provided you the authority to exclude doctors and other health professionals from participating in exchange plans. are you prepared to answer that question today? >> sir, what is the question? >> se

now the treasury department has made clear that they will not pay taxes on the victims of slavery. we thought it was unfair for diplomats who victimized their own domestic workers were because of diplomatic immune ty. now we are making sure they understand their obligations and responsibilities and we're taking action when they have evidence that they are not. we are trying to ensure that resources and support are available to victims wherever we find them. one is at the department of human resources, a national human trafficking resources center. it fields an unprecedented number of calls and it is really making a difference in reaching out to survivors and helping us prosecute abusers. other departments recently held a pu

he's a former deputy assistant secretary at the treasury department and a former fbi counterterrorism analyst. i spoke to him a few moments ago and i asked him about the likelihood of attacks in the u.s. >> it could be. there's a shadow war going on between iran and the west. israel and the united states both, and some of the -- in one of the thailand attacks and azerbaijan attacks. if there's a strike in iran and if iran believes that's imminent there could be attacks in the homeland. not a given, but it's possible. >> you just mentioned like the word shadow war. in your testimony you said clearly america and its allies are involved in a shadow war with iran. it is no longer clear that iran sees carrying out an attack in the united states as crossing some sort of red line. how so? >> well, not only has there been tit for tat attacks, whether it's involving the iran's centrifuges, but we have the plot at end of last year where agents tried to target the saudi ambassador to washington, here in washington, d.c. at lunch time at a prominent restaurant, where we know from the intercepts t

citizens can get special licenses issued by the treasury department allowing certain trips to cuba.ut only for some very specific reasons including educational or religious programs, performers or athletes who are going to be in a public performance, and business meetings related to exports. the majority of the visitors come from canada, argentina and parts of europe. when they come they bring much needed foreign exchange to what is a cash strapped economy. makes tourism perhaps the most important business sector in this country. we just don't know how much revenue they bring. because the cuban government doesn't publish those statistics. they don't publish a lot of statistics. one thing we can tell you, one of the key reasons they come or one of the things they love to do when they're here, they love these antique cars that are still on the road. in fact, they dominate the landscape here. coming up on "street signs" in the next hour, we're going to show you what they're used for to this day. commuting, actually. of course, for tourists as well. >> they won't say how much revenue co

attacked about the increasing report of a link between al qaeda and iran in direct your lester the treasury department designated a number of high-ranking members of al qaeda who operate a facilitation network from inside of iran. there is a press release sent out in the designations from david coe went, the undersecretary says iran is the leading sponsor of terrorism in the world today by exposing the secret till it al qaeda and allowing it to fund the territory of eliminating another aspect to terrorism. that is a pretty troubling statement. what is your understanding of this secret deal between iran and al qaeda? >> aaron and al qaeda have had sort of zayed coming to a certain extent, a shotgun marriage. i think iran has harbored al qaeda leapers, facilitators, but under house arrest conditions, remembering of course that iran is a shia state that al qaeda is sunni, so they don't agree ideologically in the first place. they think iran wants of quarters pays attention to our share of al qaeda and what we have done in afghanistan and iraq, next-door neighbors to them. so on one hand they have this au

the treasury department says the is costing drivers $100 billion per year. billion barrels of wasted gasoline. but poor only gas, conditions can cost in repairs. >> more people are hopping between cell phone carriers to find better deals. average customer's which is soon as the second two-year contract is up. typical customer-carrier relationship is one year longer. for lost revenue, charging into $300 or more for 4g iphones. >> celebrating the cherry blossom festival and a special ceremony today. helping to plan new cherry trees of the mandarin oriental hotel. for grandfather gave 3000 cherry trees to the nation's capital. they replayed that scene today. >> what about us? us were blown away today. literally. >> close to 40 miles per hour wind gusts in the district today. very cold air will be diminishing. in look at the river bend country club. high-pressure overhead with just a few clouds. sensational weather. it was a good day on the golf course 51 in arlington and gaithersburg. 44 mile per hour gust reported in gaithersburg. the average is 59 and 41, a l

and the splendid national palace and treasury department on the other side. all wrapped in flames. presented a grand and sublime, but at the same time, an awful and melancholy sight. the madisons returned to the charred city three days after the great fire aiming to find temporary quarters and a place to recover from the symbolic and physical humiliation and the united states and the capital city had just incurred. madison was pinpointed as a coward for abandoning the capital. at this point in time, too, before most people did come back to washington, there was actually talk of moving the capital city west, possibly to cincinnati or even to st. louis. but fortunately enough they decided to stay in washington. in an effort to regain authority and some sense of place, mr. and mrs. madison took up residence in temporary homes. to furnish these spaces they did not go to mr. latrobe. from 1815 to 1817 they relied mostly on local resources and available furniture, which was mostly secondhand. used furnishings at this point were not necessarily cast-offs or outmoded discards. they were ge

i've cording to the treasury department, poor road conditions cost the average driver about $400 a year car repairs. the department of transportation would need at least $85 billion over the next 20 years to bring existing highways and bridges to a good state of affairs. >>> seems like customers aren't afraid of break up with their cell phone companies. there's a new trends that's changing the cell you larp industry and what this means for your next bill. >> reporter: the a cell phone carrier switches customers two years after the contract is up. it expanded rapidly last year. the data shows in 2010 the average relationship between that customer and a carrier was 59 months or shy of five years. consumers were sticking with the same company for their initial contract and at least one more and likely two more but in 2011 that average dropped to 48 months. researchers say the competition is fierce among cell phone carriers. as customers schiebert deal somewhere else they're willing to jump. there are contributing factors. apple's iphone is available on all three of the carriers. that's at&

they are running the treasury department. >> c'mon. >> i expect our treasury secretary to be there beforeis over. >> there are plenty of outanding people at the trsury and elsewhere. one trader at gdman says there used to be leadehip and he said people kept the firm's value at their d desks. now if you make enough money at your firm and d you are not an ax murderer, he will be promoted to a position of influence. >> the romney campaign probablyly is notot happy to see that. it was really interesting because a vice-president joe biden could go first campaign speech called out bain capital. >> tell us about that -- >> it was the first time that the campaign really came o out and named names. he calledut mititt romney. the whole point o of the trip was he was tkingo a bunch of uaw memberers. it was ieresting because he said private equity companies or not lining up i in 2009 to hehelp save thehe auto industry. >> the e other thing you wrote about this week - republicans wooi hispanics. how ch play with his voters? >> it is not looking great. they sayhey need to get up to 46% of the hispanic

that's why actually it's important that it looks like the treasury department is looking into where ism because technically it's illegal to be supporting a terrorist organization, a u.s. designated foreign terrorist organization and that's why we have those laws. there is speculation u.s. officials have said this group may be behind some of the assassinations that are occurring inside iran and there's speculation they may actually be working with the israeli massad, but i haven't seen confirmation of that. >> the treasury department is investigating because marines by law are prohibited from doing -- americans by law are prohibited from doing business with suspected terrorist organizations. do you think you have a sympathetic audience in america for this? >> i think americans would like iran to be able to function as democracy where the rulers respond to the people's demands, but the m.e.k. is not the organization that will do that. they do not have support within iran. they worked with saddam hussein in the '80s and '90s until the u.s. went into iraq. so this is not a popular organiza

some of you may recall in the fall of 2009 when was assistant secretary of technology at the treasury department, i spoke at the nabe meeting in st. louis about the need for better data to help us monitor trends in the economy, to help us make better business decisions and to help us to guide economic policy. this was a theme in this year's economic report of the president as well. each chapter contained a box, we called it a data lodge box, on our statistical indicators, how they have improved, where we need to improve them and steps that the government and the private sector can take to improve our economic indicators. in some respects, the situation has improved since 2009 when i last spoke at nabe and in others we've learned that it was worse than we thought. let me highlight an important example where the data were less accurate than we appreciated at the time. back when i spoke to nabe in october 2009, the latest estimate was that gdp had contracted at an annual rate of 5.4% in the fourth quarter of 2008. this was already revised down 1.6 percentage point from the initial estimate of minus

it comes just as the new treasury department report says americans are wasting two billion gallons of gas on congested roadways and costing hundred billion dollars annually we pay an extra $756 a each year in extra maintenance for our cars. katie: price of a gallon of gas keeps going up. latest survey shows gallon of regular shot up 11 cents. drivers in chicago are paying 4.58 for regular. crude oil prices have started to ease along with supply. in california, drivers are paying 4.33 a gallon and 4.40 for san francisco. >> kristen: the wife of a u.s. soldier charged a mass murder in afghanistan speaks out for the first time. why she says he couldn't have done. >> it an international nuclear summit. they warned north korea not to launch a missile. with the tension on the korean peninsula coming up. katie: also another shot at the top. last thing between the stanford women and final four. >> how sleepless nights could be putting your health at risk. that is coming up. cccccccccc f >>> welcome back. check out the temperatures. look at the soaring warmth up into dakotas. cool around the g

the treasury department and the state department have worked very aggressively in the sanctions along with the body, of course. we've done a lot on the military side to prepare so that when the president says all options are on the table those options are on the table. so we've put a lot of assets in the theater in case there's a consingency with iran. and then there are intelligence activities and other activities going on. so i think we've really taken a full spectrum approach to iran. and i think we still have time to pursue that full spectrum approach. >> i yield back. >> recognize the gentleman from california, the former attorney general of california. >> they you very much, mr. chairman. mr. silver, i don't know. if i were to take the ranking member's opening statement at face value, i would have thought we wasted our time here because the indication was that all of you witnesses before us don't have any current information. it's all based on what you did in the past. mr. silver, what you said today is that based on out of date information or are you privy to intelligence infor

today five counterterrorism experts from the fbi, the nypd, the dea and the treasury department testified before the house homeland security committee today. france's horrific attack on soldiers and jewish children is a big part of the reason for the focus here, but also there was the recent targeting of israeli diplomats in india, georgia and thailand. all that is top of mind. preventing a terror attack like a lone attack is a priority for officials as well. they testified about surveillance on new york city since 2003 and gave a couple more examples about a particular threat. one in september, 2008, during the u.n. general assembly. members of the iranian delegation were seen photographing grand central railroad tracks. he also cited september, 2010, again during the u.n. general assembly, four employees of the iran broadcasting company interviewed after photographing and videotaping the water line and structure area of the wall street heliport landing pad. this could have been completely innocent. but the obama administration has been vigilant, charging two men, a naturalized u.s. citi

he is spending about the treasury department's responses to the foreclosure cries he is and mounting student loan debt. >>> a:33. a -- 5:33. a 37-year-old man is on the road to recovery after undergoing a 36-hour face transplant. the rains formation is remarkable. look at your screen. this is before the surgery he lost his nose and lips and ability to speak from a gun accident in 1997. now look at this. this is what he looked like six days after the transplant. this is the two-face transplant the hospital -- the second one the hospital completed. doctors say it was one of the most extensive ever. >> he put the mirror down and thanked me and hugged me which is a wonderful gift to give him. ever since that day you can see we will restore the 15 years he lost and making him a functioning member of society. >> doctors say norris is exceeding expectation and they were kick to thank the family of the donor. their generosity gave norris and 5 other people new lives. >>> group of passengers were blocks away from the bus stop when something went wrong. >> how a good samaritan helped a bad sit

can you just talk a little bit about what the department, the treasury is doing and might be able to do to help facilitate and come up with a permanent solution for somalis in america to be able to remit money back to relatives at home? you're aware of the scenario. but just for the record, there have been a number of banks that have refused to facilitate the remittences, perhaps you could take it from there. >> you're right, and i appreciate you drawing attention to this issue and we're working on it and working with you closely on it. be you're right to say it's hard and we're not having enough impact yet. the basic problem is that banks are reluctant to do business in parts of the world where they cannot satisfy their obligations under u.s. law to make sure they're not facilitating the activity of terrorists or other people working against american interests and that creates challenges and particularly acute in the context you cite. it's very important to try to do it, we're not making enough progress and -- we'll keep at it. >> i'll be continuing to work with you on the issue and

the treasury department sold part of its stake in the company, selling stock at $29 per share. the new supply of stock on the market weighed on a.i.g., falling almost 4%. by selling at $29, the price effectively paid by the government of its bailout was $28.73 per share. and that's tonight's "market focus." >> susie: tax time is here, and people are scrambling to get their taxes ready for the april filing deadline. but have you ever tried explaining taxes to your kids? with some tips, here's neale godfrey with tonight's "kids and cash." she's chairman of the children's financial network. >> tax time is approaching, and your kids pick up on your grumbling. explain to your kids that taxes are the money we must give the government to pay for things like schools, firefighters, and police officers. there are different kinds of taxes, but the two that will affect your youngster most directly are income and sales tax. everyone who lives and works in the u.s. has to pay taxes. explain that that is fair because those people enjoy and use the services that the government needs to pay for

from former fbi and treasury department officials. this is just over two hours. >>> good morning. the committee on homeland security will come to order. the committee is meeting this morning to examine the threat to the u.s. homeland caused by iran and the foreign terrorist organization hezbollah.

department of treasury and assistant secretary for economic policy at the treasury department. he was there from november of 2010 and returned to princeton a few months later. president obama called him back and he could not say knowing came back in his current position as the chair of cea as confirmed by the senate in november of 2011. he and his wife lisa have two children. i understand they are both students at princeton university. i am also told that he is an avid tennis player and fan and back during the deepest darkest days in 2001 when the economy was still in freefall he often incurred some of his colleagues at the treasury department including mr. geithner, mr. summers and sperling to get out on the court often to try to -- so it was a deep honor to introduce our speaker, dr. alan krueger. [applause] >> thanks jay very much for that kind and detailed introduction. kind of a walk down memory lane for me. i forgot livingston high school. i should point out the class ahead of me was jason alexander who starred in "seinfeld" and the class on the other side is chris christ

. >>> the treasury department will begin to sell off $6 billion worth of shares of aig.he insurance company received the biggest bailout payment of the 2008 financial crisis. the government still holds more than $41 billion of aig stock. the company will buy back as much as $3 billion worth of the stock being sold. >>> chrysler's ceo said no thanks to a paycheck for his work in 2011. sergio marchionne declined to take a salary, bonus or stock option. award last year. chrysler had the first profitable year since 1997. the company did not say why he refused payment. terrell? >>> jennifer lewis hall. thank you so much. >>> the campaign to stop a brutal african warlord has gone viral. a group unleashed a video that has gotten over 15 million hits on you-tube. it's among the top ten trending terms on twitter. at one point it was ahead of the new ipad and peyton manning's announcement. it hopes to end the rein of terror. for decades his resistance army killed and maimed thousands of africans and abducted thousands of children forcing them to become soldiers or sex slaves. in o

the energy and commerce committee said a deadline for today for the energy department and treasury department to produce documents or information about what taxpayers got for their $10 billion. administrati failed to provide the committee with any information to justify this claim. the american people continue to asked question, where are the jobs? they deserve answers, and they deserve the truth. instead of wasting taxpayer dollars on failed stimulus programs we should be working together on common sense solutions to expand american energy production and address rising gas prices. with or without the democrats' cooperation, republicans here on capitol hill will continue to work towards these objectives. >> i wanted to ask you about the highway bill on the floor today. a democratic leader said republicans are kicking the can down the road with the 90-day extension and call and you to pass your own long-term bills -- >> we expect after this 90-day extension, when we get back wet highway bill with our energy initve >> did you say -- are you saying what you're going to do, and i know in the prev

when the law was passed, congress required the treasury department to put guidance out about how the rules should be designed. that guidance we proposed was met by really quite a lot of support on all sides of the political spectrum. but when the rule came out as drafted by those four regulators, as you've seen, there's been a broad set of concern on both sides. too tight, too loose, to weak, too complex. it's the strength of our system. the way the system of congress is designed, we're required to put the rules out for public comment. and the regulators get to learn from the rules. in my view it's been the stakes are very high. we should take the time to get the rules right. and i think that's certainly the case in this context. so i'm sure the fed and fdic are going to carefully evaluate those comments, and i am very confident they have the ability to address those concerns within the way the law is drafted. >> thank you. then one last question. china stands as one of the few major markets to impose substantial barriers to entry for american business, including financial services f

venezuela where hezbollah had two individuals that have since been designated as hezbollah by the treasury department who were active e doing things in that capacity on behalf of hezbollah. so groups also do have the capability sometimes to penetrate into governments that may not be as cooperative as we'd like on counter tirm, maybe even a little supportive of terrorism to provide that kind of cover. >> do you see that as an effort that is separate and apart from their interest in trying to obtain and iran's interest in trying to obtain a nuclear capacity, and would our taking a more proactive step and encouraging our allies and others to crack down on that have some kind of an ancillary impact on iran's ability to obtain nuclear weapons? >> it's largely parallel. but it's not -- it's not irrelevant. i mean, for example, i was at treasury when we started coming up with the sanctions program on iran and very proud of the way it's been working. but one of the areas where iran has been seeking to evade sanctions is by leveraging financial institutions in south america, several of which we have hit publi

the treasury department report also says that drivers spend more than $400 a year in car maintenance poor road conditions. president obama is using the report as support for his plan to upgrade the transportation infrastructure. >>> shoppers in prince george's county will not find themselves paying extra for shopping bags any time soon. a bill that would have given county lawmakers the authority to impose a five-cent fee on disposable shopping bags died over the weekend. opponents of the plan said supporters had not persuaded them that the tax would do enough to help the environment. montgomery county's five-cent bag tax took effect in january. >>> construction flaws mean drivers in maryland could find themselves running into traffic slowdowns on the new intercounty techor. starting next -- connector. starting next week, crews will fix premature cracks found on four bridges along the $2.6 billion highway. a review found at least four bridges were not designed with enough steel to handle the wear of traffic long term. state officials have said there are no imminent safety concerns but

bush administration treasury department has become one of the most creative parts of the u.s. government in terms of devising ever more clever ways to destroy the economy. i was at a session with the former prime minister of israel earlier this week where he basically bragged that when he was prime minister in his talks with the u.s. treasury department the it already come up with the idea of expelling iran from what's called the swift which is the system that enables them to do transactions with foreign banks. he said this was an idea they were already talking about years ago. so, we are good at sanctions. we are obviously not good diplomacy and we don't want to go to war. >> we are at a state of' iran and it's taking place in the sanctions and the covert operations inside of iran. it's taking place through every pressure short of the war and not the defense sanctions the purpose of the sanction is basically to get iran to talk. you can see the talks coming up as one way in which the sanctions succeed because the question of the sanctions they certainly are causing problems f

he previously had served in the treasury department under three administrations. before coming to the federal reserve, he was at the imf. earlier in his career, he worked for kiss jer associates. secretary geithner graduated from dartmouth college and the john hopkins school of advanced international studies. we are pleased to have secretary geithner deliver his remarks which we followed by a question and answer period with two designated club members, please welcome secretary timothy geithner. [ applause ] >> thank you, andrew. good evening. nice to see you all. thanks for coming. it's a pleasure to be back here at the new york economic club. a great forum for national debate about economic policy and to be here at a time when we face some fundamental important choices about politics and economics. it's nice to see so many former colleagues here. cayou. i want to particularly pay tribute to my formers colleagues at the new york fed who are here somewhere. [ applause ] they are as i hope you know an exceptionally talented group of public servants, brave and creati

behrs the securities market, we may think that the authorities are better off exercised by the treasury department. we may have all of those objections, but those objections are to be heard in the debate on the legislation. once the legislation is passed, they are to be advanced. the law is to be honored and that includes honoring the recess appointment authority of the president. you know, there was another reason, i think, mort, for the lack of intra-session appointment. and that was because the initial years were spent trying to figure out which vacancies were covered. those that existed prior to the -- to the recess or those that only arose during the context of the recess. that was where most of the focus was in the 18th and 19th centuries. but with the exception of the misguided attorney general knox, who was rather promptly overruled, it seems to me that every attorney general that has examined this, and every office of legal counsel that has examined this has, indeed, concluded that intra-session practices have, by virtue of tradition if nothing else, and tradition counts for a lot with ar

and i certainly wouldn't want to get into a matter of technical interest that the treasury department is more expert on, but obviously, this is a positive step. it is one in a series of positive steps that have increased the pressure on the iranian banking and financial system in a way that i think is having real impact, real negative impact. >> thank you, madam ambassador. thank you, madam chairman. >> mr. dan. >> madam chairman. madam ambassador-b g. to be with you. just following up on representative cole's comments, i was one of the few folks on my side of the aisle to support the administration's retroactive action in libya on the house floor. i thought it was the correct thing to do. obviously, i had some questions about how we conducted the operation but i thought it was the right thing to do. but in that situation we had u.n. support obviously, nato support, arab league support. and that's important. but with respect to syria we don't have u.n. support quite clearly. and it seems to me that as long as the russians and chinese have a seat at the security council table they're g

brief that it is the interpretation of the agency's charge with interpreting this statute, the treasury department and the department of 4e8 health and human services, there is no other consequence apart from the tax penalty. and i do think, if i could talk for a couple minutes about the argument discussed about whether this can be conceived of as a suit just challenging the requirement, which is entirely stand-alone, based on inferences drawn from the exemptions, we really don't think that's right. and if i could spend a minute on it, i think it's important. the exemptions in section 5000a, it is true, that there are two categories of emgss. there are exemptions to the penalty and exemptions to the subsection requirement. but i think not only as a practical matter, but i think there is a text you'll indication and even as a legal matter, they both function as exceptions to the requirement. first, as a practical matter, one of those exemptions is a hardship exemption, and if the court will bear with me for one minute here, it's at page 11a appendix to our brief. it provides a person can go to the

on the backs of the state attorneys general, the hud secretary and the justice and perhaps treasury departments. >> thank you. >> mr. lickmeyer for five minutes. my intention is after to put us on recess and come back. we have two votes. >> okay. >> thank you, madam chair. mr. cordray, in reading your report, i noticed in here that when you were filling -- that the positions you were filling, yod all different groups that you were hiring. there is nothing there that indicates the breakout of people who actually have some real world experience with regards to financial services. can you tell me, are you hiring people that have got some real world experience that have actually worked at a bank or at a credit union, or are some of a petty loan place that actually know unintended consequences of a rule or law that is proposed by you and the enforcement of how it all fits together? >> congressman, it's a good question. it would be a pretty poor performance by me if the answer to the question was no, we're not. in fact, we are. we have a number of people who have come to the bureau i'm pleased to say

the treasury department, we were impressed that they were actually using consistent formats across all of their components, which was something that was very rare. many agencies were producing 10 or 15 logs for their components, and they were all completely different formats, and that's something we were looking at as well, although we graded each log based on its individual information. another report that we are working on is an update to the citizen's guide fought freedom of information act and the privacy act. that report as many of you know has not been updated since 2005. it's a report from our committee that's been released every two or three years since 1977. it gives people information on how to use foia and privacy act. we felt it was very important to update it given the significant changes in foia that happened with the open government act in 2007. there are some new sections in there. we add a section on the office of government information services because we feel that's a very valid resource for requesters and that's something we would like to shed light on because there

the treasury department is launching a sale of common stock it holes in insurance giant aig. the sale is $6 billion of the $42 billion of that stock. aig received the biggest bailout of the financial crisis in 2008. this is a step the government is taking from disentangling itself from aig. the government still owns 77% of the company's common stock. a recent supreme court ruling forcing the fbi to take action and deactivating the gps tracking devices in some investigations. the fbi director telling a congressional panel today that the bureau turned off a substantial number of gps units and is using surveillance by agents instead. muller saying that putting a physical surveillance team out with six, eight, 12 persons is extremely time intensive and the court ruling will inhikt our ability to use this in a number of surveillances where it's been beneficial. in january, the court unanimously agreed to bar police from installing that gps technology to track suspects without first getting a judge's approval. >>> in virginia, a controversial bill dealing with abortion is now a law