u.s. treasury department and thus by extension the i.m.f. all of the big decisions that are made by the u.s. treasury department then you had of the i.m.f. is more than familiar with the u.s. corporate world for years she worked at a major american law firm representing the interests of big business and is a member of the u.s. poland defense industry working group advanced the interests of favored nation giants like boeing and lockheed martin helping them to seal multi-billion dollar deals the u.s. and europe found christine legarde the best fit for the job so did several emerging markets including russia and china but she faces the difficult task of appearing independent despite her past lies animal spambot not to cement even further the perception that the i.m.f. exists only for the benefit of its creditors i'm gonna check our reporting from washington hard to. stay with us here on our team got lots more headed your way including this. activists say claims that a flotilla headed for gaza is carrying chemical weapons to use against soldiers

u.s. corporations as a matter of concern there's always been an unhealthy relation. ship between the big banks and the financial sector wall street and the us treasury department in the us by extension the i.m.f. all of the big decisions that are made by the u.s. treasury department then you had of the i.m.f. is more than familiar with the u.s. corporate world for years she worked at a major american law firm representing the interests of big business and is a member of the u.s. poland defense industry working group advanced the interests of a view giants like boeing and lockheed martin helping them to seal multi-billion dollar deals the u.s. and europe found christine legarde the best fit for the job so did several emerging markets including russia and china but she faces the difficult task of appearing independent despite her past and will struggle not to cement even further the perception that the i.m.f. exists only for the benefit of its creditors i'm going to check our reporting from washington r.t. . if you will head to our website so we've got more analysis of what christine the gods appointment is going to mean in terms of global finance expert opinion on tha

u.s. treasury department then you had of the i.m.f. . he's more than familiar with the u.s. corporate world for years she worked at a major american law firm representing the interests of big business and is a member of the u.s. poland defense industry working group advanced the interests of aviation giants like boeing and lockheed martin helping them to seal who to billion dollar deals the u.s. and europe found christine lagarde the best fit for the job so did several emerging markets including russia and china but she faces the difficult task of appearing independent despite her past rise and will struggle not to cement even further the perception that the i.m.f. exists only for the benefit of its creditors i'm going to check our reporting from washington our. place to go to our website you can see more analysis of what's christine legarde support winter could made in terms of global finance there's expert opinion on that turned up more on the challenges that lie ahead faces or the r t dot com. well nato has extended its operation in libya for three more months but it's no

u.s. treasury department then you had of the i.m.f. is more than familiar with the u.s. corporate world for years she worked at a major american law firm representing the interests of big business and is a member of the u.s. poland defense industry working group at best the interests of aviation giants like boeing and lockheed martin helping them to see. we'll move to billion dollar deals the u.s. and europe found christine lagarde the best fit for the job so did several emerging markets including russia and china but she faces the difficult task of appearing independent despite her past ties and will struggle not to cement even further the perception that the i.m.f. exists only for the benefit of its creditors i'm going to check our reporting from washington our to. declare their return from the international space station last month had been holding their traditional meeting at russia's star city outside moscow artist on barton went along as well to meet up with flight engineer kathy coleman who became famous for a somewhat unique performance on the station. you've bee

u.s. treasury department then you had of the i.m.f. . he's more than familiar with the u.s. corporate world for years she worked at a major american law firm representing the interests of big business and is a member of the u.s. poland defense industry working group advanced the interests of a vientiane giants like boeing and lockheed martin helping them to seal multi-billion dollar deals the u.s. and europe found christine lagarde the best paid for the job so did several emerging markets including russia and china but she faces the difficult task of appearing independent despite her past lives and will struggle not to cement even further the perception that the i.m.f. exists only for the benefit of its creditors i'm going to check our reporting from washington r.t. . websites dot com you can have your say on what the appointment of christian god will bring all that so look at town voting so far well almost half of you think that the new chief will be a puppet controlled by the. companies well. or the view that the organization will be exploiting the weak economies and deepe

u.s. treasury department says congress has until august 2nd to raid the ceiling or the u.s. will start defaulting on its loans. bipartisan talks to address the growing deficit broke down last week after republicans refused to consider tax hikes. >>> as u.s. congress debates ways to reduce the deficit, many members are giving their staff bonuses. the checks are as high as $17,000. cnn's lisa day jar dan discovers the payments after taking a hard look at congressional expense reports. >> reporter: remember the government shutdown debate? >> let them shut the government down. shut it down! >> reporter: behind all that drama, the news conferences, the federal workers scare, was a battle over spending cuts. >> washington needs to cut spending. >> that's congressman steve austria. he called for spending cuts, and as he and others debated a government shutdown, cnn has discovered both of them and dozen of other house members reported giving bonuses to their staff. our three-week long analysis of the latest house expense reports shows up to 6$6.1 million in house staff bonuses. >> $

u.s. treasury department says congress has until august 2nd to raise the ceiling or the u.s. will start defaulting on its loans. the democrats and republicans are not seeing eye to eye on how to avoid this issue in the future by reducing the deficit. >> you cannot achieve what you set out to do if you say it's just about cutting. it has to be about increasing the revenue stream as well. there are many things you can do in terms of, again, special interest tax loopholes. the tax code is rampant, just full of. >> you don't want to pile taxes on at a time when companies don't have the ability to invest and hire people. that's the primary reason we're opposed to raising taxes now. >> throwing more tax revenue into the mix is simply not going to produce a desirable result. it won't pass. putting aside the fact republicans don't like to raise taxes, democrats don't like to either. >> senator mcconnell also says he hopes president obama will take tax hikes and stimulus spending off the table when the two meet tomorrow. >>> the water is as high as it's going to get in minot, north da

u.s. treasury department.day as well as lenders an community organizers all coming together to help the folks on the verge of losing their homes. >> let's hope they do get some help. it not only affects these families but a trickle-down effect as well. >>> a president is injured when militants shell his palace. yemen's government says their president is fine, so why haven't we seen him since it happened? that's next. >>> as many as 80 people may be dead in syria. take a look at hama, syria. witnesses say troops and policemen opened fire on protesters gathered to commemorate the children killed since this uprising began. we cannot independently verify the casualty count. the number comes from a human rights group citing medical sources in syria. >>> let's move to yemen now. there are conflicting reports about the location of and the condition of the president ali abdullah saleh. rah late sa is here. what do we know. what has been verified? >> we know very little, richelle. we received information from the soud

u.s. treasury department is a favorite of the conservative tea party movement.chairman of the tea party caucus in the house, bachmann is a fiery critic of the obama administration, as were others in last night's debate. >> any one of the people on this stage would be a better president than president obama. he has failed in job one which was to get this economy going again. he failed in job two, which was to restrain the growth of government. he failed in job three, which is to have a coherent, consistent foreign policy. >> gop insiders indicate that front-runner mitt romney was perhaps the biggest winner in monday night's debate. >>> arizona's wallow fire has now burned about 733 square miles, making it the largest fire in the state's history. right now, officials say it's about 18% contained. a big improvement over yesterday. they say the northward advancement has been stopped. that is certainly some good news. but another fire is now burning in southern new mexico at carlsbad caverns national park. hundreds of visitors were evacuated as crews tackled the 14,0

months but there's going to be a return to more treasury purchases by the federal reserve because the problem with the u.s. deficit is the treasury department does not have enough buyers for all this debt that it's issuing i mean there is there simply aren't enough buyers in every other major buyer china japan and europe they're all exit ing treasuries for different reasons i mean the europeans because they have problems of their own japanese because they have problems of their own the chinese because they're very afraid of the dollar and treasury bonds so there aren't enough buyers for the issuance that the treasury has on deck which is over the next twelve months i think it's something like one point five trillion or something like that it's a really matter i mean a hundred billion here or there it doesn't really matter it's over a trillion and a half dollars all right hands out on their own personal in jim rogers camp i would take the euro over the dollar but we can talk about that on another time thanks again for being once again on the kaiser report it's a pleasure as always thank you for having me all right and that's going to do it f

u.s. treasury department is going to faze out that.he government's excuse is that it costs them too much money to print checks, and it would save a lot by doing this. but i don't think it's fair to force everyone into a system where you have to use some type of card. which is my family. we use cards. but at a charge. it's not where you are forced into a system. and i think that by staying here with this little paper that i have, my year 2013, if i have not switched, they are going to automatically send me to a direct express or debit mastercard. and it's not fair. but i can't do anything about it. i don't have a choice. thank you. appreciate it. host: from dann, he says, we are once again left powerless set by the banks. the people are always the ones who pay at the end. again, if you missed this at the top of the hour. two ads now on the air one by the banking association and one by the retailers and merchants. this is how the debate is playing out over the airwaves. >> one decision here can set off a chain reaction. that's what happe

u.s. department of treasury website and find for every nickel went. but at the same time with very little discussion, our friends at the fed were lending out $3 trillion as a member of the budget committee bernanke said our constituents ought to know which financial institutions got the money? how did you get it? to be a total dishonest institution or could you be a business person? is there a 1-800 number? he didn't think it was funny. [laughter] but he said i will not tell you but on that day we introduced legislation for transparency and managed to get the provision and then a couple of months ago they reveal the $3 trillion. needless to say, every financial institution got huge a low interest loans and what was also surprising and you will be delighted to know that the same time small businesses cannot receive cannot find affordable loans virtually every central bank and the world including the ku region, not arabs, also got a bailout and as well as the wealthy families and large corporations like general electric. they all got a bailout and that

u.s. treasury secretary timothy geithner. after the meeting the treasury department said in a statement that geithner considers lagarde an excellent candidate with strong leadership skills. the department also said that the two discussed the current situation in europe including the greek debt crisis. >>> japanese companies in households are struggling to come out of the unprecedented disaster in march as pessimistic views prevail, can japan regain its strength? our market reporter robert jefferson spoke with deyog deyogi musha for his outlook. >> we'd like you toive us your analysis, what economic factors appear to not be so good given the yen is strong and stock market continues to be lackluster. >> i think we are experiencing a serious pain 4r after the earthquake with serious destruction of production capacity and alsoafter the earthquake with serious destruction of production capacity and also cut of electric supply. i think we are in the process of sharp recovery, restoration is now in the process. with the earthquake our production has declined 20% from the pe

after that the treasury department says the u.s. will begin to default on its loans. with the clock ticking down eric cantor and senator jon kyl walked away from the talks saying they reached an impasse with democrats and wants president obama to get involved. they are getting their wish. this coming monday the president and vice president will meet are harry reid and mitch mcconnell. let's go to candy crowley. first, explain this to me. you have kyl and cantor bailing on these talks. was this just a throwing up of hands for show because these men ultimately know a deal will get done, or is this truly in jeopardy? >> this is ratcheting up the pressure. everything on capitol hill is always in jeopardy until they fix it. here is the truth of it. congress expands to the amount of time it has. they have been told august 2nd is when we're going to have to start defaulting. now, there are a number of republicans who actually don't believe the u.s. will default on its debt, that it will find ways to pay for it. nonetheless, take august 2nd. it's an eternity between now and a

u.s. state department's recent actions in sanctioning, the purpose of this hearing is to review and better understand the role of the state department and treasury department in utilizing sanctions as an instrument of u.s. foreign policy. specifically, i'd like to concentrate on the sanctions available under u.s. law and discuss their potential application in cases where venezuela individuals, businesses and the government are able to be sanctioned. venezuela has become the wild west under thugocrat hugo chavez. this is true for the following reasons. first, there is rampant drug trafficking and corruption. second, terrorist organizations like hezbollah and the farc are officially linked to government officials. and, third, venezuela is supporting iran, and iran's desire for a nuclear weapon. under hugo chavez, venezuela has become a hub in our region for money laundering and transshipment of illicit goods. the relationship between drug trafficking and terrorist organizations has become closely intertwined. if you'll notice up on the screen, we have the definition from the state department of what a state sponsor of terrorism is, and i'll let yo

if not, the treasury department has until august 22 to pay u.s. debt. johnson and johnson recalling 61,000 of tylenol extra strength pain reliever, receiving reports of musty odor. it doesn't appear to cause health risks but may cause upset stomach in some. and at the new york stock exchange i'm deborah kostren with the bloomberg after the bell report. >> the why is it so difficult to refinance manufactured homes? i'm michael finney. your consumer questions, answered, up next. >> then, later on abc 7 at 5:00, extra restaurant charge because a customer asked to hold the ice. go! go! completing an atm deposit in record time... that's a step forward. go! go! with deposit friendly atms, you can make ultra fast, secure deposits with no slips or envelopes. take a step forward and chase what matters. shows your pet you care by unleashing a complete killing force against fleas and ticks. and not just adult fleas. what makes frontline plus complete is that it breaks the flea life cycle killing adults, eggs and larvae. and it keeps killing fleas and ticks all mon

according to the treasury department, he had a month before the u.s.edit worthiness collapses. >> there's no doubt the president wants a deal. the question is the republicans. i have to say, it looks really bad that eric cantor stormed out of the bipartisan deficit talks. i don't think it helps mr. cantor or his party and doesn't help our country. we have a serious problem. it looked like serious people were making a serious effort to solve it. then eric cantor has a hissy fit and points and screams and cries for his -- >> he argued, eric cantor, the democrats kept saying, the president kept saying, you have to increase taxes as well. the republicans are saying under no circumstances in this economy will they increase taxes. >> four weeks they've been at this wall. they've been at this wall. the president has to step in. it's the president's turn. he's the president. come in, have a conversation, you're right, he's going to roll up his sleeves. you know what, they have to take taxes off the table. we can't afford -- if the president wants to get re-ele

of concern all of the big decisions that are made by the us treasury department then you had of the i.m.f. . he's more than familiar with the u.s. corporate world for years she worked at a major american law firm representing the interests of big business and is a member of the u.s. coal and defense industry working group advanced the interests of aviation giants like boeing and lockheed martin helping them to seal move to billion dollar deal the u.s. and europe found christine legarde the best fit for the job so did several emerging markets including refract and china but she faces the difficult task of appearing independent despite her past lies and will struggle not to cement even further the perception that the i.m.f. exists only for the benefit of its creditors i'm going to check our reporting from washington hard to. well on our website are two dot com you can have your say on what the appointment of christine legarde will bring let's take a look at how the voting is going right now so far the majority of you think that the new i.m.f. chief will be a pocket controlled by the interest of global corporate interests a third

meet its interest payments congress and the treasury department have tell august fourth to raise the country's debt ceiling if it's to avoid a default situation u.s. national debt amounts to more than fourteen trillion dollars at the moment radio host an adult list ricardo young from voice of russia radio says both republicans and democrats have to agree on new measures if the country is to avoid a financial crisis it's unfortunate but the republican side of the party has decided to basically walk out of the talks and what they're saying right now is that president obama needs to show leadership as he said it is a news conference today show leadership on this issue but even he is saying look we've got issues to take care of here we got to get back to the table and talk about this now most economists most analysts agree that at some point before august fourth the national debt ceiling will be raised because if it doesn't there's going to be as many are saying a global effect if america defaults on any of its loans anything that the president of united states says about this economy and its debt problem is that the global markets will react so in t

since then the treasury department has been shifting funds around to cover expenses. that will work until august 2nd. if no agreement is reached, the u.s. government will default on its debts. >> it could reverse the recovery potentially, it could definitely have an impact on growth and definitely have an impact on job creation. >> reporter: behind closed doors vice president biden has been leading talks with a small group of lawmakers from both parties. they're looking for more than $1 trillion in spending cuts to offset an increase in the debt ceiling but freshmen republicans who campaigned on fiscal discipline are pushing for more. no one's really sure what would happen if the country defaulted on its loans. it's never happened before but even the debate has consequences. lawmakers scheduled last night's vote for after the stock markets closed. >> we'll see what happens in the coming months. joel brown thank you so much. >>> republicans say the obama administration's actions to make school lunches healthier costs too much. the new school lunch guidelines issued in january call for less salt, starch and more whole grains and low-fat

the treasury department says congress has until august 2nd to raise the ceiling or the u.s.ng on its loans. bipartisan talks to address the core problem, the country's growest deficit broke down last week over the issue of tax hikes. >> we've got more revenue than we ever had, spending more than we ever had. we don't have a revenue problem. we have a spending problem. the government is doing things that we can't do well, wasting billions of dollars and we're not going to address that waste and the fraud unless we have to. >> you cannot achieve what you set out to do if you say it's just about cutting. it has to be about increasing the revenue stream as well. there are many things you can do in terms of again, special interest loopholes so that the tax code is ram pant -- is just full of. now let me just remind all of this talk about tax cuts in the bush years, the republicans said that tax cuts will produce jobs. they didn't. they produced a deficit. >> as congress debates spending cuts, many members have been giving their staff members bonuses. the checks are as high as $13

i was concerned about and the subject of my remarks was the fact that the treasury department estimates that $1.1 trillion of u.s. debt is held by the communist chinese government. that's about a third of all of our outstanding debt. and we know that at least on one occasion a retired chinese general said that if we didn't do what china wanted, that they would then threaten to disrupt our economy by selling off the debt that they own. but i would just like to ask my colleagues if they would care to comment. i know larry lindsey, the renowned economist, wrote an article recently where he cited there are three things that worry him most about high unemployment and the -- really, the has tiewd of the -- the lacitude of the private sector. he said it is slow economic growth, of course, because many in the private sector are discouraged, the entrepreneurs who create jobs, the job creators who would otherwise expand are -- slow economic growth concerns him. the last quarter requests 1.8% of our gross domestic product. not enough to generate the kind of jobs to get people back to work. and one reason for our high emplo

u.s. state department's recent actions and sanctioning data, the purpose of this hearing is to review and better understand the role of state and treasury department in utilize sanctions ag as instrument of u.s. foreign policy. i want to talk about the sanctions under u.s. law and discuss their application in case venezuela, individuals, businesses, and the government are able to be sanctioned. venezuela has become the wild west under hugo. this is true for the following reasons. first, there is rampant drug trafficking and corruption. second, terrorist organizations like hezbollah and the farc are linked to government officials, and third, venezuela is supporting iran and iran's desire for nuclear weapons. under hugo chavez, there's been money laundering and goods. the relationship between drug trafficking and terrorist organizations has become closely intertwined. if you'll notice up on the screen, we have the definition from the state department of what a state sponsor of terrorism is, and i'll let you read that on your own. it is widely acknowledged that terrorists groups turned to drug trafficking as a source of revenue. if we put

u.s. government owes a lot of money. we are overspending at a heart pounding rate. the national debt clock now soaring past $14 trillion. the treasury departmentights the debt every day and tries to raise money with in effect i.o.u.s to help keep the country financially afloat and it is done in a very secret place. here is jonathan karl. >> reporter: inside the unmarked building through the empty lobby past a small warning sign across a small lobby up several floors we find the governmente the dwoft borrows unthinkable amount of money almost every day. the war bond posters the only indication of what is happening here and where we are is this tiny sign that says auction room. >> reporter: what happens inside this room is the difference between the government operating for another day or turning the lights out. >> this is how we finance the u.s. government. this is where it happens. >> right here in this room. >> right here. >> assistant treasury secretary mary miller is the most powerful woman you never heard of. she supervises auctions finding out if the world is willing to lend the government more by buying i.o.u.s. better known as u.s. trea

u.s. treasury is forced to accept austerity and cuts in the social safety net. >> to what do you attribute the other custody of the department of justice, which continues to the present day i asked that as a former federal prosecutor. >> i'm going to ask you. >> i don't know. i can write an indictment and just what they read in the newspapers in 30 minutes. into bikinis eat would be like shooting fish in a barrel. >> is the politicization frankly. it is the politicization of the department of justice committee attorney general general's offices, lack of independence of regional offices. it is, frankly on the other side, this political pressure that comes from the notion we've unfortunately had to learn with. i don't agree we have to, but we've had to, which is rush if you like that, you risk destabilizing these very same institutions that we spent so much effort trying to make look like they're solvent. >> this is never good at the bride statement of the justice in the past. does it extend? is that what you're suggesting? >> well, it's hard to draw any other conclusion. i don't have the answer. i am not a part of these e-mai

u.s. bonds. this will undoubtedly hurt companies not only in my state but across the nation and we're curious as to what steps that you would see that the treasury department needs to do to prevent facta from having negative impact on u.s. capital markets. >> and i'll be able to move quickly on this issue for you because we have multiple committees working on this issue and we have not come to a conclusion. so what i'd like to be able to do is to submit our views for the record after the hearing. >> okay. it's kind of a, it could have a major impact on the ability of investments being made by foreign entities and americans who are purchasing through their foreign entities into this country and that can have a dramatic impact on the amount of capital available in the marketplace if suddenly the foreign entities stop purchasing it. i think it is a pretty pertinent question to the title of the hearing today. so i would appreciate that. with regards to the fiduciary rules coming out of dol of all places with regards to ability of some securities folks to be able to sell different types of securities, what kind of, where do we think we need to go with that one?

treasury department lays out a frightening scenario. as we near the beginning of august, interest rates could increase if investors start to get spooked and it appears that the u.snot meet its financial obligations. if congress continues not to act, social security and medicare checks could be stopped or delayed and services could be cut off to military families and unemployment benefits halted. the cost of borrowing for everything from a house to college tuition could rise steeply. one economist at the liberal economic policy institute says the gop is playing chicken with a freight train. >> they're behaving like children. they're not getting their way so they're refusing to act. but it's incredibly irresponsible and they better come to their senses before august 2nd. >> reporter: the doomsday scenario has many folks worried. >> terrified. >> we'll lose our credit rating, next time we need to borrow, nobody will give us money to borrow. >> reporter: but republicans are holding the line arguing the $14 trillion u.s. debt is a drag on the economy, hindering job growth. they're demanding billions of dollars in spending cuts before signing off on raising the nation