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Geithner defends record to Congress
ft.com — By Sarah O’Connor in Washington and Alan Rappeport in New York Published: November 19 2009 18:35 | Last updated: November 19 2009 18:35 Tim Geithner launched a fierce defence of his record as US Treasury secretary on Thursday as Republicans said his ... (more) Geithner defends record to Congress
U.S. to aid some local mortgage programs
hf-implode.com — A Treasury Department program aimed at propping up local housing finance agencies will help inject $29 billion into these groups over the next year, according to government data scheduled to be released Tuesday. The program focuses on state and local housing finance agencies, which provide ... (more) U.S. to aid some local mortgage programs

US Treasury Latest Blog Posts

Further reading
11 hours ago at FT Alphaville
Another View: Unintended Consequences on Wall St.
Another View: Unintended Consequences on Wall St.
dealbook.blogs.nytimes.com — Another View: Peter J. Solomon, the chairman of the Peter J. Solomon Company, looks at Wall Street's compensation and the unintended consequences of the banking bailout. (more) Another View: Unintended Consequences on Wall St.
Govt’s Attempt to Push Transparency for Mortgage Mods Falls Short
onthehillblog.blogspot.com — Last week, the Treasury Department took a step to address those concerns: For the first time, it issued guidelines requiring mortgage servicers to give homeowners details about why they’ve been denied. But the required disclosure will only be partial, and housing advocates say that means servicers’ (more) Govt’s Attempt to Push Transparency for Mortgage Mods ...
Some Praise and Questions for the US Treasury
alephblog.com — 1) Perhaps the US Treasury is getting a few things right. Let’s start with lengthening the average maturity of Treasury debt. I have backed this idea in the past . It is worthy to note that zero coupon yields peak out around 20 years out, and then start declining. It is quite possible ... (more) Some Praise and Questions for the US Treasury
Key Parts of Financial Stability Improvement Act
blogs.wsj.com — Here are some key parts of the draft legislation hashed out between House Financial Services Committee Chairman Barney Frank (D., Mass.) and the Treasury Department. 1) It would create a financial services oversight council, chaired by the Treasury ... (more) Key Parts of Financial Stability Improvement Act
Fannie + Goldman + US Treasury + Tax Credits = Complex Mess
alephblog.com — In a prior job, I spent a decent amount of time on Affordable Housing tax credits . The idea was to reduce my life insurance company client’s taxable income to the point where they would be close to but not subject to the corporate alternative minimum tax. Occasionally my work would ... (more) Fannie + Goldman + US Treasury + Tax Credits = Complex Mess
My Visit to the US Treasury, Part 1
alephblog.com — This will have to be brief, because I am tired. I have had to deal with family and work issues today, and only now have time to blog. You might have seen my fanciful post, Fallowhaven, Part 1 . I wrote that because I thought I could reveal almost nothing of my visit to the US Treasury ... (more) My Visit to the US Treasury, Part 1
Curious Meeting at Treasury Department
nakedcapitalism.com — The Treasury invited a small group of bloggers for a “discussion” with senior officials on Monday. Initially, the meeting was to be background, which is a sort of journalistic “FYI but you can’t use it” but we were told ... (more) Curious Meeting at Treasury Department
U.S. Unlikely to Recoup Auto Bailouts, G.A.O. Says
U.S. Unlikely to Recoup Auto Bailouts, G.A.O. Says
dealbook.blogs.nytimes.com — A government report released Monday concludes that taxpayers will probably never recoup all - or even close to all - of the $67 billion that the Treasury Department lent to General Motors and Chrysler in the last year to prevent their collapse. (more) U.S. Unlikely to Recoup Auto Bailouts, G.A.O. Says
My Visit to the US Treasury, Part 2
alephblog.com — Before I start this evening, to all my fellow bloggers out there, if you were invited to the gathering at the US Treasury and did not come, I have a request and a question: If you were invited, send me an e-mail . Tell me why you decided not to come, if you would. If present trends ... (more) My Visit to the US Treasury, Part 2
My Visit to the US Treasury, Part 3
alephblog.com — Going back to bank stress-testing for a moment, one interesting thing that a Treasury official said at the meeting was that unemployment did not have a big effect on foreclosures. Unemployment has a big effect on credit card defaults, but not foreclosures. I disagree. As a multi-purpose ... (more) My Visit to the US Treasury, Part 3
My Visit to the US Treasury, Part 4
alephblog.com — So, who did I recommend for the next meeting at the Treasury? (I think there will be one.) Economists View http://economistsview.typepad.com/ Cafe Americain http://jessescrossroadscafe.blogspot.com/ Market-Ticker http://market-ticker.denninger.net/ Econbrowser http://www.econbrowser.com/ ... (more) My Visit to the US Treasury, Part 4
AIG Taps $4.2 Billion From Treasury for Two Units
hf-implode.com — -- American International Group Inc., the insurer rescued by the U.S., tapped the Treasury Department for another $4.2 billion to help restructure its money-losing mortgage guarantor and the plane unit it’s trying to sell. AIG accessed about $2.1 billion from its Treasury facility on Aug. 13 ... (more) AIG Taps $4.2 Billion From Treasury for Two Units
My Visit to the US Treasury, Part 5
alephblog.com — One other blogger took his nameplate with him — I’m not sure who; the rest left theirs. But this is what was in front of each one of us as we sat down to discuss matters at the US Treasury. Treasury officials had similar nameplates. It dictated where we would sit as well.  ... (more) My Visit to the US Treasury, Part 5
My Visit to the US Treasury, Part 6
alephblog.com — Now, none of us knew when we came that only bloggers were invited. Personally, I expected it to be a broader press briefing that some bloggers could come to as well. “Deep background” is well understood to the press, but new to bloggers. My blogging friends at the meeting can ... (more) My Visit to the US Treasury, Part 6
Treasury Denies Fannie’s Request to Transfer Housing Tax Credits
hf-implode.com — " The US Treasury Department is denying the request of mortgage giant Fannie Mae to transfer half of the equity interests in its low-income housing tax credit (LIHTC) investments to unrelated third-party investors." (more) Treasury Denies Fannie’s Request to Transfer Housing Tax ...
BofA Lends $96bn of First Mortgages in Q309
hf-implode.com — " BofA’s $759bn in new credit extended is equal to nearly $17 for every $1 of the $45bn of Troubled Asset Relief Program (TARP) funds it received from the federal government. By November 16, Bank of America will pay more than $2.5bn in dividend payments to the US Treasury Department." (more) BofA Lends $96bn of First Mortgages in Q309
My Visit to the US Treasury, Part 7 (Final)
alephblog.com — Things have been busy for me, so this final part should be short. What did I learn that I did not already know? Not much, except: The Treasury wants to convince the public that it is doing its best, but that Congress is a slave to the Financial Services industries. When asked about the ... (more) My Visit to the US Treasury, Part 7 (Final)