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May 15, 2012
05/12
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you, in fact, were at the treasury department in 1999 through. can you talk to us about how you've seen the evolution of treasury in treasury's role and how it shapes key issues. >> sure. and thank you for that kind intro dukz. it is a great pleasure to be here to talk about the treasury's role in the foreign policy and national security areas of the u.s. i'm very mindful that what we're able to do today is very much dependent on the work of those who game before me, including yourself. so very much appreciate it. i was at the treasury department from '99 to 2001 in the general council's office. at that time, the treasury department was involved in the national security elicit finance world to some extent, but to a lesser extent than we are today. we were, at the time, the u.s. government's lead on the financial action task force, which i'll come back to, but is an international body for money laundering. we were responsible in the treasury department for regulating the domestic anti-money laundering through the financial crimes and force network
you, in fact, were at the treasury department in 1999 through. can you talk to us about how you've seen the evolution of treasury in treasury's role and how it shapes key issues. >> sure. and thank you for that kind intro dukz. it is a great pleasure to be here to talk about the treasury's role in the foreign policy and national security areas of the u.s. i'm very mindful that what we're able to do today is very much dependent on the work of those who game before me, including yourself....
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May 12, 2012
05/12
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CSPAN3
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it's one of many discussions we covered this week. >>> treasury department undersecretary for terrorism, david cohen, outlined his department's role in fighting terrorism thursday at the center for strategic and international studies in washington. he credited the treasury department's targeting of al-qaeda's finances as one of the pivotal reasons for its decline. he also discusses national security efforts in syria. this is just over an hour. >> good morning and welcome. my name's andrew schwartz and i'm in our external relations department here. we will be live tweeting from this event. i have the privilege today of welcoming two very distinguished public servants. who have served our country well. dave cohen is the undersecretary of terrorism. undersecretary of the treasury for intelligence and we can think of no better foreign tell us about the role. my colleague was basically this job in a former administration plus, something like that. then juan went to the white house and was deputy national security adviser. we owe both of these officials a great debt for their service to this
it's one of many discussions we covered this week. >>> treasury department undersecretary for terrorism, david cohen, outlined his department's role in fighting terrorism thursday at the center for strategic and international studies in washington. he credited the treasury department's targeting of al-qaeda's finances as one of the pivotal reasons for its decline. he also discusses national security efforts in syria. this is just over an hour. >> good morning and welcome. my...
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so technically they did this out of the treasury department and the treasury department is not covered by the volcker rule but the treasury department was never really meant to be the place for these multibillion dollar positions so it is still sort of the jury's still out on whether or not this was an attempt by j.p. morgan to sort of hide proprietary trading inside the treasury department to maybe change their practices before the volcker rule went into effect or if they were just doing a terrible job of hedging a position somewhere else in the bank the jury is still out but i do think that this shows the potential for ways that the banks could try and evade the volcker rule yes and do you think because jamie dimon is saying hey punches are going to jump all over this as a reason to instate the volcker rule and they're wrong which i don't know how anyone could make that excuse but just to be clear should this kind of trade be considered prop trading two billion dollars were lost of the company's money on it it's a big bat and does this make the case for a tough vocal role that is in
so technically they did this out of the treasury department and the treasury department is not covered by the volcker rule but the treasury department was never really meant to be the place for these multibillion dollar positions so it is still sort of the jury's still out on whether or not this was an attempt by j.p. morgan to sort of hide proprietary trading inside the treasury department to maybe change their practices before the volcker rule went into effect or if they were just doing a...
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May 15, 2012
05/12
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CSPAN3
tv
eye 164
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we have liaisons for many of the agencies who are resident at the treasury department, and, you know, there's, i think, a very healthy and robust exchange of both law enforcement information and, you know, as appropriate intelligence information. >> and just at fair point. treasury did keep its criminal investigators from the internal revenue service who by the way led the effort to hunt saddam hussein's assets in '03-04 in part because they are the law enforcement we had to direct. very good. >> let me reinforce that so i don't get in trouble when i get back to the office. the side of irs, we work with, you know, all the time, and there's a new head of irs, ci, who just started two weeks ago or so. and you know, one of the first things that he did was come over to the treasury department, meet with me, meet with my team, and we spent an hour talking about different ways that we can coordinate our activities. so it's a -- you know, it's a -- it's still a very close relationship, even though -- irs, i still in treasurer rained the other law enforcement agencies are not. >> the gentlema
we have liaisons for many of the agencies who are resident at the treasury department, and, you know, there's, i think, a very healthy and robust exchange of both law enforcement information and, you know, as appropriate intelligence information. >> and just at fair point. treasury did keep its criminal investigators from the internal revenue service who by the way led the effort to hunt saddam hussein's assets in '03-04 in part because they are the law enforcement we had to direct. very...
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May 11, 2012
05/12
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CSPAN2
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we have liaison from many agencies who are registered at the treasury department. they take a very healthy, and robust exchange of both law enforcement information and arizona the intelligence information. >> and just a fair point, treasury did keep the criminal investigationers from the irs, by the way, lead the efforts to hunt saddam hussein's assets in '03 and 2004. they were the sole remaining law enforcement. [laughter] yeah. reinforce that so i don't get in trouble when i get back to the trouble. the irs, the criminal investigative side of irs, we work with, you know, all of the time all, you know, there's a new head of irs. he started two weeks ago or so. and, you know, one of the first things that that he did was come over to the treasury department, meet with me, my team. and we spent an hour about different ways question coordinate our activities. it's a close relationship even though are i the treasury and other law enforcement agencies or not. >> gentleman in the for a back. he's been very patient and enthusiastic. [laughter] >> my name is terri murphy.
we have liaison from many agencies who are registered at the treasury department. they take a very healthy, and robust exchange of both law enforcement information and arizona the intelligence information. >> and just a fair point, treasury did keep the criminal investigationers from the irs, by the way, lead the efforts to hunt saddam hussein's assets in '03 and 2004. they were the sole remaining law enforcement. [laughter] yeah. reinforce that so i don't get in trouble when i get back...
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May 7, 2012
05/12
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WJLA
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the treasury department is cutting out the stake in a.i.g. it is cutting out shares on an offering of aig by $2 billion. this is the third offering since last may. because the treasury's a in the company to 63%. tsa hit a milestone. changes on the way for domino's pizza. i will have all the details in the next hour. that is business news. live in new york, abc 7 news. >> thank you. we will see you soon. some measures are 56 degrees. >> still to come, we have an update to last week's shooting at a church in ellicott city. >> learn what is bringing prince harry here to washington. >> we have >> time for a check of traffic and weather every 10 minutes. >> good morning. >> it is a mild start. temperatures are looking a little cooler than last week. temperatures will be in the 70's. let's look at the numbers. 57 in arlington. 53 in winchester. a little cooler in huntington. 51 degrees. a few sunny breaks throughout the day today. pretty cloudy. you cannot rule out a patch of drizzle. highs today are around 70 degrees. and limited sunshine tomorrow
the treasury department is cutting out the stake in a.i.g. it is cutting out shares on an offering of aig by $2 billion. this is the third offering since last may. because the treasury's a in the company to 63%. tsa hit a milestone. changes on the way for domino's pizza. i will have all the details in the next hour. that is business news. live in new york, abc 7 news. >> thank you. we will see you soon. some measures are 56 degrees. >> still to come, we have an update to last week's...
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May 26, 2012
05/12
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CSPAN3
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the treasury department was broke. federal spending multiplying as never before. $6 would be spent in 1862 for every dollar spent by the government in 1861. northern banks fearing a panic by demoralized investors had closed their exchange windows in late december of 1861 and were refusing to honor paper money by redeeming it with gold or silver. if the chances of restoring the union seemed slim, even more remote was the notion that a freely elected government of the people would be strong enough to endure this crisis. from the days of the roman republic, to revolutionary france, no republic had ever survived such a calamity as this. both experienced and history taught the people of 1862 that was so much at risk and such strong enemies, only a dictatorship was sufficient. in the smoke-choked barrooms of washington's finest hotels and at the dinner tables of senior union army officers, in the drawing rooms of washington's leading politicians, the idea of a military dictator was endlessly discussed. george mcclellan, unio
the treasury department was broke. federal spending multiplying as never before. $6 would be spent in 1862 for every dollar spent by the government in 1861. northern banks fearing a panic by demoralized investors had closed their exchange windows in late december of 1861 and were refusing to honor paper money by redeeming it with gold or silver. if the chances of restoring the union seemed slim, even more remote was the notion that a freely elected government of the people would be strong...
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May 7, 2012
05/12
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CNBC
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not just because the treasury department owns 63% of the bismz aig is incredibly cheap.look at the book value. that's the strict accounting valuation of all companies' assets and liabilities. after buying back the latest two billion dollars worth of its own stock from treasury, aig now comes to $58.71, $27 more than the current share price. in other words, aig is trading at a massive 45% discount to its book value, which i believe is understated. warren buffett says judge it by the book value. that would be fine if they were bringing out the book value at berkshire hathaway. they're not. aig is. i think the stock still has a lot of room to run. it mean every time the company buys back shares from the company, they're getting a real sweet deal. the company is expected to buy back about $10 billion worth of stock this year alone. i think they do much better. along with $8 billion in 2013. this is a company that knows it's cheap and it's putting its money where its mouth is. by the way, there's been a ton of insider buying here. they only buy because they think the stock is
not just because the treasury department owns 63% of the bismz aig is incredibly cheap.look at the book value. that's the strict accounting valuation of all companies' assets and liabilities. after buying back the latest two billion dollars worth of its own stock from treasury, aig now comes to $58.71, $27 more than the current share price. in other words, aig is trading at a massive 45% discount to its book value, which i believe is understated. warren buffett says judge it by the book value....
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May 18, 2012
05/12
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CSPAN3
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worked at treasury department.o those are some of the people that facebook has hired in the recent past to work on their staffs. we're going to be talking about facebook. its ipo is coming up. and we want to get gautham nagesh's take on it. the numbers rupp on the screen. republicans 737-0002. and 628-0205 are the numbers for you to call. gautham nagesh, the fact that we are doing a segment on facebook are we being a little outsized by this too as well because it's facebook? >> i don't think so. i think the short answer is that facebook is part of something like 200 million or 150 million americans' lives. it's almost as much a part of our communication system as cable television or wireless phones at this point. people rely on facebook. they invest a large portion of their lives and their personal data into it. and it's really the fundamental basis for the real name economy which will transform the real name economy on the internet which will transform the way we conduct ourselves online. so i don't think you can
worked at treasury department.o those are some of the people that facebook has hired in the recent past to work on their staffs. we're going to be talking about facebook. its ipo is coming up. and we want to get gautham nagesh's take on it. the numbers rupp on the screen. republicans 737-0002. and 628-0205 are the numbers for you to call. gautham nagesh, the fact that we are doing a segment on facebook are we being a little outsized by this too as well because it's facebook? >> i don't...
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May 18, 2012
05/12
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CSPAN3
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was detailed to work in the office of terrorism, finance, and financial intelligence at the department of treasury and the department of states bureau of international narcotics and law enforcement affairs and anti-money laundering section. that had to be quite a business card. during his law enforcement investigative career, mr. cassara conducted a large number of smuggling and diversion of weapon and high-technology investigations. just the scope of that demonstrates that numerous schemes that are possible. these investigations took place in africa, the middle east, and europe for a variety of federal agencies including directing the first truly international money launlderring task force and serving as an undercover arms dealer. mr. dennis loaml is the president and ceo of dml associates, a full-service investigative consultancy. he retired from the fed rag bureau of investigation in 2003 after 30 years of government service and almost 28 as a special agent in the fbi. in december 2000 he was appointed the chief of the fbi's financial crimes program. following the terrorist attacks of september
was detailed to work in the office of terrorism, finance, and financial intelligence at the department of treasury and the department of states bureau of international narcotics and law enforcement affairs and anti-money laundering section. that had to be quite a business card. during his law enforcement investigative career, mr. cassara conducted a large number of smuggling and diversion of weapon and high-technology investigations. just the scope of that demonstrates that numerous schemes...
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May 8, 2012
05/12
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WJLA
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the treasury department has received 2 million fake tax returns last year. billion over the next five years because the irs does not have the resources to keep track of the cheaters. >> the unemployment rate is hovering around 8% but a new report shows there are jobs available. in march, companies posted the highest number of job openings and nearly three years. >> mcdonald's is being accused of bribing hundreds of blockers. they are getting them to write positive things about the food chain forgive said aleksei -- -- about the food for gifts. to that we have a look at the car you can win simply by entering our contest on our facebook page. >> we are staying dry. you can win this beautiful ford fiesta. it is easy to do. just go to wjla.com/freecar. go there right now. wjla.com/freecar. it is quick and easy to do. youif you share with your facebook friends that you enter the contest, you get two additional entries into the contest. we will pick a winner later this month from the 15 finalists later on in may. here is the other cool thing. if 25 of your friends
the treasury department has received 2 million fake tax returns last year. billion over the next five years because the irs does not have the resources to keep track of the cheaters. >> the unemployment rate is hovering around 8% but a new report shows there are jobs available. in march, companies posted the highest number of job openings and nearly three years. >> mcdonald's is being accused of bribing hundreds of blockers. they are getting them to write positive things about the...
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May 16, 2012
05/12
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CSPAN3
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set to testify, government officials from the treasury department and the fempl reserve as well as members a number of banking experts. congresswoman shelley moore capital i toe is the chair of the subcommittee and carolyn maloney is the ranking member. >>> this hearing is called to order. i want to welcome everyone. this morning, the financial institutions and consumer credit subcommittee will examine the impact of being designated as systemically important financial institutions specifically for nonbank financial entities. but i couldn't begin the hearing without talking about the most topical subject of the day or of the week. there's no doubt that this week's news of jpmorgan's trading losses has raised significant questions about the supervision of risk within an institution. the story is still unfolding. and although it appears that the -- and seems to be that the firm had sufficient capital to absorb the significant loss, one of the questions i would ask is would a less capitalized institution survive a similar loss. are other financial firms that are deemed systemically significant
set to testify, government officials from the treasury department and the fempl reserve as well as members a number of banking experts. congresswoman shelley moore capital i toe is the chair of the subcommittee and carolyn maloney is the ranking member. >>> this hearing is called to order. i want to welcome everyone. this morning, the financial institutions and consumer credit subcommittee will examine the impact of being designated as systemically important financial institutions...
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May 11, 2012
05/12
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CSPAN2
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i will get to your question but it is a great pleasure to be here to talk about the treasury department's role and i am mindful what i am able to do today is very much dependent on the work of those who came before me including yourself. as noted i was in the department through 2001 with the general counsel's office. at that time the treasury department was involved the national security finance world to a lesser extent than today. we were at the time that i would come back to the body for anti-money laundering we were responsible for regulating the domestic anti-money laundering through the financial crimes network and sanctions and when i came to treasury, i came at a time when there summer's just became secretary. he elevated the importance of anti-money laundering not just domestic international issue. to see the threat to internationally the treasury department should be more involved. we looked at those issues the two years i was there. the issue began to gain greater attention within the government and internationally. noting in july 2001, this was developing but had not taken hold
i will get to your question but it is a great pleasure to be here to talk about the treasury department's role and i am mindful what i am able to do today is very much dependent on the work of those who came before me including yourself. as noted i was in the department through 2001 with the general counsel's office. at that time the treasury department was involved the national security finance world to a lesser extent than today. we were at the time that i would come back to the body for...
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May 3, 2012
05/12
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MSNBC
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the importance of it is overshadowing is the strategic dialogue that hillary clinton and the treasury departmentit is something new we are doing every six months. >> it was started in the bush administration just for the treasury department. now hillary clinton has expanded it. these are face to face negotiations over key issues. this is supposed to include north korea and iran, important subjects. but i doubt anyone is listening because of the drama playing out. we have a complicated relationship with china. it is competitive and cooperative. usually presidents find their balance. i think this administration until now has found its balance. i have to believe in good faith and competently they negotiated a deal with a willing partner. how it went south i'm not sure. >> right now it looked a little naive. >> just to throw something else in. the endmissile test. it is important that we focus on the cooperative piece here and that we hopefully get this government to help us resolve this issue in a way that sets the right precedent and this fellow is protected. he is after all a very impressive figh
the importance of it is overshadowing is the strategic dialogue that hillary clinton and the treasury departmentit is something new we are doing every six months. >> it was started in the bush administration just for the treasury department. now hillary clinton has expanded it. these are face to face negotiations over key issues. this is supposed to include north korea and iran, important subjects. but i doubt anyone is listening because of the drama playing out. we have a complicated...
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May 21, 2012
05/12
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CSPAN3
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>> i found no record of that being a concern for the treasury department. particularly in 1862 was -- if you read the diary, it becomes clear that he was running an endless effort to fund the next day's operations or arguably the next week's operations. day after day, he comes into his office to find millions of dollars of unpaid bills on his desk and he explains about having no idea how to pay it. i think that would have been fine with him. most of the republican party was strongly opposed to the idea of fiat money, greenback money to begin with. chase and lincoln for that matter were really driven to the wall by the fact that they had no alternative way of funding the war. it's literally mind boggling to me when i see what happened to the federal budget from 1860 to the end of season 62. the entire federal budget of 1860 was $80 million. in 1862, they were spending $50 million a week. another way to put the government into terms that we can understand, the presidential staff, i'm not talking about the white house staff, the butler and the cooks and so for
>> i found no record of that being a concern for the treasury department. particularly in 1862 was -- if you read the diary, it becomes clear that he was running an endless effort to fund the next day's operations or arguably the next week's operations. day after day, he comes into his office to find millions of dollars of unpaid bills on his desk and he explains about having no idea how to pay it. i think that would have been fine with him. most of the republican party was strongly...
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May 31, 2012
05/12
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WRC
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hoping to add economic pressure on syrian president bashar al-assad, the treasury department targeted the syrian international islamic bank for its role in helping other syrian banks evade sanctions. the new penalties prohibit the bank from financial transactions in the u.s. and freezes any assets under u.s. jurisdiction. it also hoped the move will make it more difficult to pay the salaries of the pro-government thugs who perpetrated the massacre in how hoo la. >>> u.n. observers say 13 bodies have been discovered bound and snot eastern syria. a warning to our viewers, the report contains graphic images you may find disturbing. we have been following the story from cairo. >> reporter: the u.n. observer mission in syria says it's appalled and disturbed of another gruesome attack inside syria, this one taking place in the eastern part of the country. amateur footage posted on line which we couldn't authenticate show bodies laid on the ground with hands tied behind their back, shot execution style. now this attack comes on the heels of another deadly massacre that took place in houla on
hoping to add economic pressure on syrian president bashar al-assad, the treasury department targeted the syrian international islamic bank for its role in helping other syrian banks evade sanctions. the new penalties prohibit the bank from financial transactions in the u.s. and freezes any assets under u.s. jurisdiction. it also hoped the move will make it more difficult to pay the salaries of the pro-government thugs who perpetrated the massacre in how hoo la. >>> u.n. observers say...
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May 22, 2012
05/12
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CSPAN2
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we have the obama administration through the treasury department agreeing this is an enforcement problem and this bill is the legitimate and proper solution. again, march 2009, the treasury said -- quote -- "as it now stands the payment of federal funds through this tax benefit appears to provide an additional incentive for aliens to enter, reside and work in the u.s. without authorization. that means it's a magnet to draw more illegal crossings into the country. again, july 27, the treasury inspector general had a whole report, and the title was -- quote -- "individuals who were not authorized to work in the united states were paid $4.2 billion in refundable credits." that inspector general said that what we need is a fix legislation just like this. in fact, this is what we do with regard to the earned-income tax credit. we require for that separate tax credit a valid social security number. and we're simply applying that valid fiction to this different -- valid fix to this different tax credit. again, let's not make a pretty straightforward situation difficult. let's fix a glaring prob
we have the obama administration through the treasury department agreeing this is an enforcement problem and this bill is the legitimate and proper solution. again, march 2009, the treasury said -- quote -- "as it now stands the payment of federal funds through this tax benefit appears to provide an additional incentive for aliens to enter, reside and work in the u.s. without authorization. that means it's a magnet to draw more illegal crossings into the country. again, july 27, the...
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May 7, 2012
05/12
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CNBC
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bertha joins us with more. >> the treasury department announcing an oversubscription to their $5 billionnging in another three quarters of a billion dollars. the treasury says it amounts to about $30 billion worth. aig was down for the day on very heavy volume, but it is now up in afterhours trade. in midtown, new york, today, a billionaire in the hoodie. kayla reporting on the debut. >> reporter: investors waited an hour today to hear the pitch on the million-dollar deal. they all made short remarks before showing a road show video and opening up the floor for q&a. those topics range from china to instagram to revenue growth. investors felt like they were shafted because the session was cut short. but facebook will have more opportunities to answer those questions and we'll be live tomorrow from facebook's road show day two in boston. back to you. >> thanks, kayla. nice to see he wore his formal hoodie. also in the news, abbott labs settling with 49 states in the justice department on sales and marketing practices for its neurological medication. abbott will pay $1.6 billion. duke unive
bertha joins us with more. >> the treasury department announcing an oversubscription to their $5 billionnging in another three quarters of a billion dollars. the treasury says it amounts to about $30 billion worth. aig was down for the day on very heavy volume, but it is now up in afterhours trade. in midtown, new york, today, a billionaire in the hoodie. kayla reporting on the debut. >> reporter: investors waited an hour today to hear the pitch on the million-dollar deal. they all...
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May 19, 2012
05/12
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CSPAN3
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department of treasury. welcome. >> thank you, chairman, ranking member maloney and members of the subcommittee. >> do you have the microphone on or pull it closer. >> how is this? members of the subquestion, thank you for the opportunity to discuss the financial stability oversight counsel rule and guidance for identifying companies for enhanced standards and supervision by the federal reserve. in the 2008 financial crisis financial distress as certain non-bank financial companies contributed to a broad seizing up of the financial markets. to address potential risks posed to u.s. financial stability by these types of companies, the dodd-frank wall street reform and consumer protection act authorizes the council to determine that certain non-bank financial companies could pose a threat to u.s. financial stability and will be subject to the supervision of the federal reserve and enhanced credential standards. although the dodd-frank act specifically outlines the substantive considerations and procedural requi
department of treasury. welcome. >> thank you, chairman, ranking member maloney and members of the subcommittee. >> do you have the microphone on or pull it closer. >> how is this? members of the subquestion, thank you for the opportunity to discuss the financial stability oversight counsel rule and guidance for identifying companies for enhanced standards and supervision by the federal reserve. in the 2008 financial crisis financial distress as certain non-bank financial...
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May 1, 2012
05/12
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CSPAN3
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then the treasury department in 2005 disregarded the law, changed the rule. they cashed in advance of shipments and what did that do? that allowed private interests in cuba to seize ships still in port. irrespective of the merits of the issue, that is agricultural products being shipped to cuba. well, it halted cash sales. let's not forget, everybody, that we, the united states is one of the few countries that hasn't traded with cuba and we're losing out. canada, every other country does. but due to external irrelevant reasons, in 2005, this was changed, and we all know the reasons why. it's a reason that disrupts the trade. it's not a reason that has anything to do with trade. it's a reason that frankly has to do with the presidential politics. and i just think it's wrong. the law was passed in 2000. that law pass in 2000 has being thwarted as a rural place in 2005. i spent some time with olfat. you wouldn't believe, olfat got exposed to -- for asset transfers that jeopardize national security. they have far more people looking at cuba than any other country
then the treasury department in 2005 disregarded the law, changed the rule. they cashed in advance of shipments and what did that do? that allowed private interests in cuba to seize ships still in port. irrespective of the merits of the issue, that is agricultural products being shipped to cuba. well, it halted cash sales. let's not forget, everybody, that we, the united states is one of the few countries that hasn't traded with cuba and we're losing out. canada, every other country does. but...
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May 18, 2012
05/12
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KBCW
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treasury department is the chief of staff she then went on to build the online ad business at google for leaving for a spoken to dominates. the 42 year-old is the company's best paid employee. braking and $31 million last year mostly in stock even though she is worth $1 billion she is emerging as the poster child for work life balance. >>> i walked out of this office every day at 537 home for dinner with my kids at 6. now part of corporate america's elites to knowledge the gender gap in a commencement speech last year. >>> to the promise for a more equal world. a world where men ran have our homes and women and men have our institutions would be just a much better world. >>> as for one from the run for the white house to lend up in washington and i think she could someday be president and that is not a joke. >>> i have aspirations to do something that matters. and right now i don't think there's much it could do that would matter much that they spoke. in anticipation of the huge media crush tomorrow morning-let us on to the company property which is basically a first ran side where t
treasury department is the chief of staff she then went on to build the online ad business at google for leaving for a spoken to dominates. the 42 year-old is the company's best paid employee. braking and $31 million last year mostly in stock even though she is worth $1 billion she is emerging as the poster child for work life balance. >>> i walked out of this office every day at 537 home for dinner with my kids at 6. now part of corporate america's elites to knowledge the gender gap...
WHUT (Howard University Television)
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May 31, 2012
05/12
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WHUT
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treasury department officials say the syrian international islamic bank has been acting as a front, they say other financial institutions use it to get around sanctions. the bank is based in damascus. treasure officials say it processed $150 million in transactions last year on behalf of banned institutions. the treasury undersecretary david cohen said the new sanction will add pressure on the assad regime by closing off a key means of evasion. he said officials in qatar have agreed to take similar actions. department officials will host their international counterparts next week. they'll discuss what else they doon to persuade assad. >>> u.s. president barack obama used a video conference link to speak with european leaders about the debt problems. they agreed they need to work together to limit further damage. obama shared his views with german chancellor angela merkel, french president francois holland d hollande and italy's mario monti. the leaders will meet again next month in los cabos, mexico. >>> the biggest trade insurer has pulled its coverage of shipments to greece because of
treasury department officials say the syrian international islamic bank has been acting as a front, they say other financial institutions use it to get around sanctions. the bank is based in damascus. treasure officials say it processed $150 million in transactions last year on behalf of banned institutions. the treasury undersecretary david cohen said the new sanction will add pressure on the assad regime by closing off a key means of evasion. he said officials in qatar have agreed to take...
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May 12, 2012
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a treasury department official describes his agency's counterterrorism efforts. >>> and the consequences of possible cuts to the defense budget. >>> i had my ambition to walk with john smith. i got to pocahontas. there's one here. this makes a rectangular space that would be the chan sell. pocahontas marries john ralph in this church in 1614. so i guarantee you i'm standing exactly a little deeper than she was, but this is where pocahontas stood when she got married. >> this saturday tour the james town colony dig with william kelso. since its rediscover, the colony has yielded 1.5 million artifacts. take the tour at 1:30 p.m. eastern. visit the lab at 2:00. then join in on the conversation with william kelso answering your questions live saturday at 2:30 p.m. eastern, part of american history tv this weekend on c-span 3. >>> over the past year, c-span's local content vehicles city tour has taken book tv on the road from tampa to savannah, charleston to knoxville, and last month in oklahoma city. the crews have visited the pl places that define heritage. june 2nd and 3rd, watch for our p
a treasury department official describes his agency's counterterrorism efforts. >>> and the consequences of possible cuts to the defense budget. >>> i had my ambition to walk with john smith. i got to pocahontas. there's one here. this makes a rectangular space that would be the chan sell. pocahontas marries john ralph in this church in 1614. so i guarantee you i'm standing exactly a little deeper than she was, but this is where pocahontas stood when she got married. >>...
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May 31, 2012
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hoping to add economic pressure on the syrian president, the treasury department targeted the syrian international islamic bank for its role in helping other syrian banks evade sanctions. the new penalties prohibit the bank from financial transactions in the u.s. and freeze any asset under u.s. jurisdiction. it's hoped the move will make it more difficult to pay the salaries of the pro government thugs who perpetrated that grisly massacre in houla. >>> u.n. observers say 13 bodies have been bound and shot in eastern syria. this report contains graphic images that you may find disturbing. we've been following story from cairo. >> reporter: the u.n. observer mission in syria says it is appalled and disturbed by new revelations of yet another gruesome attack inside syria, in the eastern part of the country. amateur footage posted online which we couldn't independently athent indicate shows bodies laying on the ground with their hands tied behind their back, apparently killed execution style. this comes on the heels of a massacre in the town of houla on friday. with many western powers e
hoping to add economic pressure on the syrian president, the treasury department targeted the syrian international islamic bank for its role in helping other syrian banks evade sanctions. the new penalties prohibit the bank from financial transactions in the u.s. and freeze any asset under u.s. jurisdiction. it's hoped the move will make it more difficult to pay the salaries of the pro government thugs who perpetrated that grisly massacre in houla. >>> u.n. observers say 13 bodies have...
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May 16, 2012
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congressman al green, democrat of texas to michael gibson of the fred and lance auer of the treasury department. >> was aig a non-bank financial institution? mr. gibson? >> yes. >> thank you. i tend to ask questions that you can answer yes or no. and was aig into many different kinds of products, exotic products, if you will, credit default swaps, derivatives. was aig into exotic products? >> well, with the caveat that the federal reserve was not the supervisor of aig i'm sure the answer to your question was yes. >> i understand the federal reserve was not and i'm not going there. i am going here. was aig the type of institution that fsoc would be designed to have an impact on? you want to pass, mr. gibson? i'm still with you. >> i would say that looking at the quantitative screens in stage one aig would trip many or all of those. >> of course, it would. it was over $50 billion, wasn't it? >> yes. >> elaborate. tell us why aig would come under the auspices of fsoc. >> under the fsoc rule the category, the characteristics which make up systemic importance some of the most important ones are the
congressman al green, democrat of texas to michael gibson of the fred and lance auer of the treasury department. >> was aig a non-bank financial institution? mr. gibson? >> yes. >> thank you. i tend to ask questions that you can answer yes or no. and was aig into many different kinds of products, exotic products, if you will, credit default swaps, derivatives. was aig into exotic products? >> well, with the caveat that the federal reserve was not the supervisor of aig...
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May 8, 2012
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after that, all of the fed's liabilities and assets would be transferred to the treasury department. >>> this hearing will come to order. without objection, all members opening statements will be made part of the record. the chair notes that some members may have additional questions for these two panels, which they may wish to submit in writing. without objection, the hearing record will remain open for 30 days for members to submit written questions to these witnesses teen place their responses in the record. i also ask unanimous consent that those non-subcommittee members that are present be recognized if they wish to give opening statements or ask questions. i now recognize myself for five minutes for an opening statement. first, i want to thank our two colleagues for being here today, and they will be recognized shortly. but as many members know, the subject of the federal reserve and monetary policy has been something that i've been interested in for a long time, believing that it has a great deal of significance, you know, with regards to a healthy economy. today, we'll be dis
after that, all of the fed's liabilities and assets would be transferred to the treasury department. >>> this hearing will come to order. without objection, all members opening statements will be made part of the record. the chair notes that some members may have additional questions for these two panels, which they may wish to submit in writing. without objection, the hearing record will remain open for 30 days for members to submit written questions to these witnesses teen place...
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May 7, 2012
05/12
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ken feinberg, the managing partner of feinberg rosen, also the special master for the treasury department, you know his responsibilities as well for the 9/11 fund and also for bp so thanks to kenneth feinberg. harvey pitt, former chairman of the securities and exchange commission, the ceo here in washington, and we are also pleased to have jill summers a commissioner with the commodity futures trading commission leading the commission's investigation into mf global among other things. megan. >> thank you so much, peter. thanks for being here. so our panel is the future of banking. we have a diverse panel. we're going to hit on a lot of topics. i want to start out by getting all of your takes on that very question, what are banks going to look like five or ten years from now? we've got so many unknowns with dodd frank, so many rules yet to be written. where do you see this going? jill, i'll start with you. >> so from the cftc's perspective, we have issued over 60 different proposals regarding title 7 implementation, we finalized over 30 of those rules. and you know, many of those rules are
ken feinberg, the managing partner of feinberg rosen, also the special master for the treasury department, you know his responsibilities as well for the 9/11 fund and also for bp so thanks to kenneth feinberg. harvey pitt, former chairman of the securities and exchange commission, the ceo here in washington, and we are also pleased to have jill summers a commissioner with the commodity futures trading commission leading the commission's investigation into mf global among other things. megan....
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May 23, 2012
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>> well, we have the treasury department and other fsoc members involved in any orderly liquidation authority, have been working with the fdic to understand what their approach will be to designate, i'm sorry, putting in a film in a normal significant but ultimately, that's a, what resources and the details of their approach is a question you would have to pose to them. >> all right. my time is up. so i'm going to go to ms. maloney. thank you. >> thank you, and i'd like to ask mr. auer, i understand the criteria the council has established by regulation and statute. but i'd like more clarity on the exact metrics that will be used in designating nonbank foreign ministers is saifis. how much interconnectedness makes a firm a sifi? could you elaborate in this area. >> again, in the multiple rounds of public comment that we received, there's a desire to led to development of a three-stage process. the first stage is based on publicly-val indicated data and easily cal kulable metrics, in order to provide greater clarity that the public, about the types of endits that the council is going to want t
>> well, we have the treasury department and other fsoc members involved in any orderly liquidation authority, have been working with the fdic to understand what their approach will be to designate, i'm sorry, putting in a film in a normal significant but ultimately, that's a, what resources and the details of their approach is a question you would have to pose to them. >> all right. my time is up. so i'm going to go to ms. maloney. thank you. >> thank you, and i'd like to ask...
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May 18, 2012
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treasury department she then went on to build the online ad business at google before leaving for face up in 2008 that 400 is the company's best plan template simply rake in $31 million last year mostly in stock even though she is worth $1 billion she is emerging as the poster child for a work life balance. >>> the a lot of his office at 537 home for dinner with my kids at 6. >>> now part of corporate america's elites channel is a gender gap last year. >>> to the promise for a more equal world in a world where men can have our homes and women ran have run institutions. would be just a much better world. >>> as for run from the white house. did we get the issue will end up in washington and i honestly think she could someday be president and that's not a joke at aspirations to do something the matter is and right now at don't think there's much ado that would matter much that they spoke. anticipation of the huge media crush tomorrow morning the company is actually about the media to park in one of the lot on their property there's plenty of food and of course a lot of security to make s
treasury department she then went on to build the online ad business at google before leaving for face up in 2008 that 400 is the company's best plan template simply rake in $31 million last year mostly in stock even though she is worth $1 billion she is emerging as the poster child for a work life balance. >>> the a lot of his office at 537 home for dinner with my kids at 6. >>> now part of corporate america's elites channel is a gender gap last year. >>> to the...
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May 13, 2012
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in dedicating the 10-foot tall figure, the great visitors to the treasury department building, warren harding made reference to an anonymous donor. might it been the gift of andrew mellon who like to describe as the greatest secretary of the treasury since hamilton himself. sculpted by james earl frazier, hamilton has a quizzical look on his hands and face. perhaps he is training to recognize his surroundings. after all, it was his famous deal with supporters of thomas jefferson that led to federal assumption of state debt in return for the capital's removal and an entirely new city to be built in the banks of the potom potomac. the pedestal makes no reference to hamilton's real estate transactions. it pays tribute instead to his financial genius. that leads to abundant streams of revenue forth. he touched the dead corpse of and sprang upon his feet. >> after 30 years of space flight and 130 missions, the space shuttle program has come to an end. this spring, the shuttle's discovery and enterprise were delivered to their new retirement homes in virginia and new york. atlantis is based
in dedicating the 10-foot tall figure, the great visitors to the treasury department building, warren harding made reference to an anonymous donor. might it been the gift of andrew mellon who like to describe as the greatest secretary of the treasury since hamilton himself. sculpted by james earl frazier, hamilton has a quizzical look on his hands and face. perhaps he is training to recognize his surroundings. after all, it was his famous deal with supporters of thomas jefferson that led to...
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May 2, 2012
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and the inability or unwillingness for treasury department to go to the hill to get appropriatuations for that is what created a big problem for the federal reserve because they were involved in fiscal actions which is not the role of the central bank should be. >> you and others but you in particular have been criticized for not raising rates in 2003 and 2004. jeffrey lacquer says in 1994 you did get out in front with preemption. when you see the global debate today, not the fed but the global central bank debate today about when we raise interest rates, what data and you as a great student of data, what data should any central bank study as to know when to raise interest rates? >> well, it basically is of necessity involved in the forecast. all central bank actions presuppose an outlook which you are addressing because obviously the impact of monetary policy drags out over time and you have to try to infer what is going on. in other words, the issue of the question of lowering rates in 2003 which we didn't which i think was the right thing to do, insurance against the type of deflat
and the inability or unwillingness for treasury department to go to the hill to get appropriatuations for that is what created a big problem for the federal reserve because they were involved in fiscal actions which is not the role of the central bank should be. >> you and others but you in particular have been criticized for not raising rates in 2003 and 2004. jeffrey lacquer says in 1994 you did get out in front with preemption. when you see the global debate today, not the fed but the...
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May 15, 2012
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he was lynched in mississippi while he was working with the treasury department's bureau of the internalnue. >>> another tribute to officers who died in the line of duty. the 16th annual law enforcement memorial run from philadelphia to washington. these officers and their survivors made their way through prince george's county and county executive rushern baker and other area leaders joined them for a portion of the run. >>> 70 journalists who died in the pursuit of news were honored yesterday in northwest. the ceremony was part of a rededication of the nowrnallist memorial at -- journalist memorial at the museum. it now holds the name of 2156 reporters from around the world dating back to 1837. >>> a historic plane has landed at frederick municipal airport, a c-47 plane. it flue 17 paratroopers into france on d-day. the cost is $2 a person to take a tour. itself funds will be used to help maintain the plane. >>> it was the best selling beg nancy guide. now it's a big screen comedy. we talk about the stars of the new film "what to expect when you're expecting." >> reporter: get ready fo
he was lynched in mississippi while he was working with the treasury department's bureau of the internalnue. >>> another tribute to officers who died in the line of duty. the 16th annual law enforcement memorial run from philadelphia to washington. these officers and their survivors made their way through prince george's county and county executive rushern baker and other area leaders joined them for a portion of the run. >>> 70 journalists who died in the pursuit of news were...