development, on behalf of the city and county of san francisco, to accept and expend an innovation fund research contract in the amount of $442,996 from the u.s. department of the treasury, internal revenue service, for the period of september 30, 2014, through december 21, 2016. >> chair and supervisor campos, thank you so much, office of the tax collector here on behalf of my friends of mayor's office of community develop sxment they have been wonderful in stepping up and doing the processing for the grant that we received, and actually that the contract from the u.s. department of treasury and it is a 443,000 dollars over two years to provide, financial counseling to the residents at the four sf sites and we are going to be testing whether allowing enabling electronic payment of rent, reduces the likelihood of eviction at these four sites and i think that this is a very exciting initiative to bring the high quality, financial service and products to the housing authority residents and to particularly target the residents who are working and therefore unable to use the rent, pay services available to the clients on general assistance or social security and i want to t

of money on gifts this month. according to a new report from the u.s. department of the treasurytaxpayers are still losing a lot of money on pennies and nickels, producing $1's worth of pennies costs the treasury $1.66 and a dollar in nickels cost $1.62. every time we make a nickel, we lose three cents on it. yet, the majority of americans want to keep them. we don't want to get rid of pennies and nickels because -- without them, what would we fill our ashtrays with? we would have to start smoking. [ laughter ] the nickel is one thing, but the truth is, the only thing we use pennies for is to give exact change so we don't get more pennies. canada, you know, put a stop to pennies last year. president obama has called them obsolete. i have an idea. maybe the treasury should just glue them all to table tops and sell them on etsy. yes? [ laughter ] hey, let's check back in with guillermo. guillermo, in your opinion, should we do away with pennies? >> no, i think we should keep saving it. >> jimmy: very good. you're up to nine sweaters. i don't know if you're going to be able to get u

u.s. department of the treasury. during her tenure at treasury, ms. coloretti helped create a new treasury operations excellence team which has applied lean principles developed in the private sector to improve performance at the treasury. this work encompasses dozens of process improvement outcomes, saving the department money and staff time while engendering a a -- continuing -- continual improvement. prior to joining the treasury department ms. coloretti held positions in the san francisco mayor's office, including budget director, the san francisco department of troubled youth and their families, the u.s. office of management and budget, and the private sector. she is also a recipient of the national public service award, the public policy and international affairs achievement award and the federal 100 award. in all, ms. coloretti would bring over 20 years of experience in budget and program analysis as well as 15 years of management experience to the department of h.u.d. deputy secretary. at a time when millions of american families struggle to fi

matter from the office of federal white house management in the white house office of management and budget. and mr. david leebrick is federal assistant secretary of the u.s. department of treasurywhich has been so much talked about as the responsibility, primary responsibility party, for the data act. pursuant to the committee's rules would you please rise to take the oath. ef are and raise your right happened. just follow gene. he knowes this one. do you solemnly swear or affirm the testimony you are about to give will be the truth, the whole truth, and nothing but the truth? thank you very much. please be seated. let the record reflect all wpss answered in the affirmative. the light will indicate your five minutes. please try to stay as close as can you to it. your entire opening statements will be placed in the record along with any other extraneous material you may choose to provide. mr. dudara? >> good morning, mr. chairman. ranking member cummings. members of the committee. very pleased to be here today. i would like it start by commending you mr. chairman, mr. cummings, aej others. mr. connolly, the whole committee. for your persistence to bring the data act to fruition.

of schanzer is vice president of accounting issues letter to the democracies has worked as a terrorist and fire a terrorist and fire eros at the u.s. department of treasury and is a research fellow at the washington institute for middle east policy. dr. schanzer is also a political author like his co-panelists has contributed to a number of national and international publications. we are also fortunate to have his co-author of this report with us today. there they who was born and raised in istanbul brings both a personal and scholarly perspective on the region that we will be focusing on. we will start out by asking john to speak a few minutes about the report and then we'll open the discussion to our panelists and halfway through this morning's meeting will open to questions from the ideas she is the next thank you a match, david. the bottom line of fire which war of fire which war is if something reported on by many journalists at this point and actually they have drawn parallels on multiple occasions to the fact that turkey has become a shower of the new g5 e.'s. it has become the transit point for fighters, for weapons, cash and other material that

prohibit the american people from visiting cuba unless you get a license from the department of treasury. the reason that the u.sr and so many others feel that this is important is that we'll open up cuba and my view is that the cuban people need to hear more voices than just the castro government. >> unfortunately, in cuba the only thing that controls all media and all access is the cuban government. the only thing is that cuba can't pay on credit. they have to pay on cash and many have gone to cuba because the state departments have passed out these licenses like they're going out of style and many have gone to cuba because of cultural exchanges and they hang out at their bars and beaches and by the way, many around the world have traveled to cuba and i don't understand why americans will go to the islands when italians and canadians and british haven't been able to do that. >> i think this advice that we have to keep doing what doesn't work is interesting advice. i authored along with a couple of other senators in 1999 the first ability to sell food in cuba because i think using food as part of an embargo is

of the federal reserve, stanley fischer, was a citigroup executive. the directors of the national economic council, the office of management and budget, a current u.s. trade representative, and senior officials at the treasury department, have also had citigroup ties. that is a record for just one single bank. many other senior officials in recent administrations have had ties to goldman, jpmorgan, bank of america, morgan stanley or other major wall street firms. still more officials, including two recent appointees to the commodity futures trading commission were lawyers who spent huge portions of their careers representing wall street institutions. this is the revolving door at its most dangerous. in virtually every economic policy discussion held in washington, the point of view of wall street banks is well represented. so well represented, in fact, they have often crowded out other points of view. that is the kind of context for thinking of the nomination of antonio weiss. he spent the last 20 years at the investment bank lazard and has been named under-secretary for domestic finance at the treasury department. he is focused on international, corporate mergers, companies buying and selling each other. it may be in

and the federal government says it lost money, a lot of money the treasury department reported that the u.sst more than $9 billions the government loaned nearly $80 billion to general motors, chrysler, ally financial, and chrysler financial, it says it recovered just over $70 billion of that, and a down day on wall street amido worries of more economic turmoil the dow fell 55 points. and the nasdaq was down about 29.5 points. a key russian disdent arrests after trying to join protestors against the government, we are look at why this man is a threat to vladimir putin and 2014 was a break through year for guy rights across the united states, a look back at the milestone achievements and the road ahead. at us... award winning investigative documentary series... opioid wars only on al jazeera america >> on techknow >> we should not be having earthquakes in texas >> the true cost of energy hits home... >> my yard is gone... >> are we destroying our way of life? >> contaminated water from the fracking activities come here >> they stick it to the core of the earth >> but this cutting edge technol

but it's devoid of the broader catch-all language that says all the other messages that might be out there, the president has essentially changed law by a third-tier u.s. treasury departmentebsite in one of the obamacare pieces to this. so we don't know what all he might have done. we don't know what all he might do. so i wrote broader catch-all language so we can at least defend the constitution with regard to immigration and cover it all and shut off all the funding to that. and again, we didn't pick this time. the president picked this time. the gentleman from oklahoma mentioned a bar fight. sometimes you don't get to pick that time and go do your recruits. but while that's going on, they are hiring people today to accelerate the distribution of these permits that are created out of thin air by a president that knows very well he's violating the constitution. i'd say also that my amendment, even though i got the last draft of this sometime around 3:00, it has the support of -- on file of mr. gosart, others who would come in, it would be a uc-request, jeff duncan, paul brown, fleming, michele bachmann. i haven't had a chance to even talk to mr. gomert yet. that's where

of the u.s. representative -- let's say in this case it would be the u.s. representative executive at the ibd, what the law requires the treasury department to do, is to cut back cuba's contributions to the capital of the bank by an amount equivalent to the value of that loan or assistance. so, say 10 million dollar loan to cuba to do whatever, the u.s. government opposes that. if the united states has capital -- paid in capital contributions that are due under helmburton the treasury is supposed to hold back that $10 million when it makes its next capital contribution. before it finishes making all these capital contributions. if they're not due and payable or there are no paid in portions of capital that have to be paid, then it goes to the callable capital. what ma means is that whatever the callable capital of the united states is under the last capital increase, it would be cut back by $10 million using that example. the reason i'm mentioning this is because this is a consideration that other countries would have to consider in allowing cuba to become a member or not. more broadly, this is where we get into the practical issues, if there's ever the need a

of things the president can do through the u.s. treasury for example, giving credit to cuba for purchases of american agricultural products. that the treasury department that those who support the ending of the cuban embargo have said if americans are allowed to go and be tourists in cuba that would somehow prompt changes in the island. those are things that the president can do unilaterally with relations to cuba. what he cannot do is remove the embargo codified in law and asked for three specific things. calling of free and fair elections, freeing of political prisoners, and freedom of expression freedom of union, freedom to organize. the president can do a lot more. that's why it's so important that we hear what the president has to say today at noon 9:00 pacific. we'll, of course, be bringing you his comments live from the white house. i want to bring in msnbc. this is a rapidly developing story not only affects one family or the release of three cuban spies. it also may have major political implications as well. >> right. and another thing i would add to your great long list of what the president can effect and what his administration can do as y

the department of treasury and commerce to implement the president's plan. >> thank you, james more on g. >> staying with that. what will be the impact of u.s. relations with cuba and lifting the embargo and what changes could we so here and there? chris wallace anchor of fox news sunday. a lot of folks on capitol hill are not happy. what are you hearing from the republican side of congress that they will do once back in session? >> they will go back in session and back in the majority in the senate and you have people like marco rubio that will be head of the subcommittee in the foreign relations committee and other people who are the head of the appropriation's committee and they will do everything they can through the power of the purse to block the opening of a u.s. embassy in havana and the ambassador to cuba. and there are certain things that congress will be able to do even though the president has authority to block the warming and thawing of relations with cuba. >> congress will not be able to prevent u.s. companies and they can't do anything about that, right? >> that's my understanding. certain things in the terms of the trade emb

the treasury department. in addition to his lack of basic qualifications, mr. weiss was part of the burger king in version deal that moved the u.s. company to canada as part of a merger that would cut down on its tax obligations. also note that mr. weiss' friends at was art are giving him a golden parachute valued at about $20 million as he goes into government service. just one span of the revolving door too many. enough is enough. the response to these concerns has been let's say, loud. his supporters say,, on. he is an investment banker. he should be qualified to oversee collocated financial work at treasury. showns defenders have not that his actual experience qualifies him for this job at treasury. professor adam levinsohn, a law professor who teaches at georgetown, wrote a really good piece about this last week. he looked at each of the functions of the undersecretary it,tion and, as he put almost none of that relates to the work of an investment banker doing international m&a. professor simon johnson, former chief economist at the imf, now teaches at m.i.t., agrees. he noted last week that this third most the senior offic

the u.s. mine safety and health administration won a court judgment that the owners must pay the fine plus further penalties and interest. as of april, 2012, the united states treasury department still trying to collect the debt. [ticking] coming up, lining up for a lifeline. >> how long you been out here tonight? >> we got up at 3:00 this morning, and we got here about 4:00. we've been out here for a little while. it's cold. >> why'd you come so early? >> 'cause we wanted to be seen. >> that's ahead when 60 minutes on cnbc returns. [ticking] [ticking] >> remote area medical or r.a.m. for short, is an american relief organization that air drops doctors and medicine into the jungles of the amazon. it sets up emergency clinics where the needs are the greatest. as scott pelley first reported in march of 2008, this charity founded to help people who can't reach medical care had found a new mission throwing america a lifeline. >> in a matter of hours, remote area medical set up its massive clinic in an exhibit hall for a weekend in knoxville, tennessee. tools for dentists were laid out by the yard, optometrists prepared to make hundreds of pairs of glasses general medical doctors s

the treasury department. in addition to his lack of basic wasification, mr. weiss part of the burger king inversion deal that moved the u.s. company to canada as part of a merger that would cut down on its tax obligations. weiss'se that mr. friends are giving him a golden parachute valued at about $20 million as he goes into government service. one spin of is just the revolving door too many. enough is enough. the response to these concerns has been, let's say, loud. first, his supporters say, come on. he is an investment banker, so of course he should be qualified to oversee complicated financial work at treasury. but his defenders haven't shown that his actual experience qualifies him for this job. a bought professor who teaches financial regulation at georgetown wrote a good piece about this last week. he looked at each of the functions of the under-secretary's position, and none eventt, "almost relates to the work of an investment banker doing international m&a." economist ofief the imf now teaches at m.i.t., and he agrees. he noticed that this position is "the third most senior official in the executive branch with r

of that went to the federal government. it goes straight into the u.s. treasury department multi-trillion dollar general accounting find. not hard to track where that goes. the state was involved with this because saipan's, district it -- attorney ofstrict new york, did investigation for bnp alibaba. half of the money was going to go to the state on this. under regular for fragile -- under regular forfeiture law, they would have split the money. $6 billion. at the last minute governor cuomo was a little bit unsure that all of the money should go to these two, particularly cy vance, the das office, so there was last-minute negotiations to ring a big chunk of that money back to the new york state budget. shareholders paid for about 2.6% of the year state budget this year. they did that by designating new york state as the victim of the whole case. want moneywhat you to be used for is to reimburse the people upon whom these crimes have been perpetrated. if you look at new york state as the victim, how do we pay new ? rk state back >> some of this went to the city of new york.

the treasury department. in addition to his lack of basic qualification, mr. weiss was part of the burger king inversion deal that moved the u.smpany to canada as part of a merger that would cut down on its tax obligations. also note that mr. weiss's friends are giving him a golden parachute valued at about $20 million as he goes into government service. for me, this is just one 9)jb the revolving door too many. enough is enough. the response to these concerns has been, let's say, loud. first, his supporters say, come he is an investment banker, so of course he should be qualified to oversee complicated financial work at treasury. but his defenders haven't shown that his actual experience qualifies him for this job. a bought professor who teaches financial regulation at georgetown wrote a good piece about this last week. he looked at each of the functions of the under-secretary's position, and as he put it, "almost none event relates to the work of an investment banker doing international m&a." the former chief economist of the imf now teaches at m.i.t., and he agrees. he noticed that this position is "the third most senior of

the treasury department, i can tell you that's not going to happen. i think the reality is the saudis have their agenda. the u.s. has their agenda. both ofas have put pressure, obviously tremendous pressure on the russian economy. they've also put pressure on the u.s. shale development. i think that this is part of the strategy of the saudis, to see what they can flush out in terms of new potential investments. my company is investing in the midstream of the energy market partners group. we're quite excited about the prospec prospects, even at these low oil rates, delivering gas in parts of mexico and other emerging markets at attractive prices. so there is a positive. right now the market seems to have shifted dramatically from a very positive view to a very negative view. i actually still think this is going to be a net positive for the global economy. we just to get through some of the turbulence. >> always good to see you, charles. >> pleasure being with you. >> show you what on deck is doing today. the one big ipo that we are having. price, 10 million shares at $20 apiece. opens at $26.50. a nice 30% gain there. let's get to dominic

the office of personnel management already determined that the fincen hiring practices were illegal and referred the case to both the u.s. office of special counsel and the treasury department's inspector general. the investigations need to cover whether treasury department officials knew about the hiring problems and did nothing until o.p.m. forced treasury's hand. and if fincen tried to game the system to shortchange our military veterans, congress obviously needs to know. in addition, whoever is responsible must be held accountable. to find out what happened, then, i requested all e-mails sent between the treasury department and fincen on this very matter. as the treasury assistant secretary for management, miss coloretti, oversees the treasury's human resources department and may have known about the illegal hiring practices or was at least in a position to know. if she did, she certainly shouldn't be rewarded with a promotion. however, regardless of her involvement, the treasury department needs to come clear. as i said earlier, i have requested e-mails from the treasury department to help me get to the bottom of this. so far i received four e-mails. indead of open trans