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October 15, 2013

Treasury Department’s “extraordinary measures” are running out

  • $35Bcash on hand remaining for the U.S. Treasury Department, an amount they’ve been directing through so-called “extraordinary measures” (accounting tricks with government funds, essentially) to try to keep paying the bills. That maneuvering and wrangling is expected to run out of steam soon, however — the Treasury estimates they’ll run out of ways to pay on Thursday. source

18:56 // 6 months ago
February 27, 2013
23:03 // 1 year ago
August 7, 2011
So much for leaving; Timmy Boy Geithner sticking around for a while: While there was word on the street that he was going to depart after the brutal debt ceiling crisis, Obama wanted him to stick around instead. This sounds like an aneurysm waiting to happen. source Follow ShortFormBlog

So much for leaving; Timmy Boy Geithner sticking around for a while: While there was word on the street that he was going to depart after the brutal debt ceiling crisis, Obama wanted him to stick around instead. This sounds like an aneurysm waiting to happen. source

Follow ShortFormBlog

21:37 // 2 years ago
August 5, 2011
This was actually something that was stewing before S&P turned on the burners today, but it’s worth noting that the Treasury reiterated this point afterwards.

This was actually something that was stewing before S&P turned on the burners today, but it’s worth noting that the Treasury reiterated this point afterwards.

21:21 // 2 years ago
August 2, 2011
I don’t know. It’s hard to tell. I think this is a good result but a terrible process. And again, again, as the world watched Congress step up to the edge of the abyss it made them really wonder whether this place can work.
Treasury Secretary Timothy Geithner • Offering his take on whether the U.S. might get a credit rating downgrade despite the fact that the debt ceiling increase will likely pass the Senate today. Many of Geithner’s recent statements regarding the debt ceiling seem to indicate that consumer and investor confidence was shaken by the long, roundabout process it took to get a debt ceiling increase. We’ll see if he’s right. source (viafollow)
10:32 // 2 years ago
July 18, 2011

The US Treasury is running low on cash

  • 29 companies have more money than the United States Treasury
  • 7 of those companies are based in America source

» The American companies include: Bank of America, JPMorgan Chase, Morgan Stanley, Goldman Sachs, and Freddie Mac. Two of the top three companies on the list are Chinese. On the upside, the Treasury has as much money as Google, so that’s kind of a nice consolation prize.

23:23 // 2 years ago
April 17, 2011
20:48 // 3 years ago
February 19, 2011
In our judgment, the continuing opposition…in the House would undermine and damage our capacity to create jobs and expand the economy.
Treasury Secretary Timothy Geithner • Claiming that the GOP’s spending-cut-heavy plan threatens to severely hurt job creation. Geithner’s advice? Strengthen the economic recovery, then focus on deficit-cutting. “I am very confident that the Democrats and the Republicans will come together on a program to not just reduce spending but reduce long-term deficits,” he continued. source (viafollow)
22:30 // 3 years ago
November 20, 2010
It is very important to keep politics out of monetary policy. You want to be very careful not to take steps that hurt our credibility.
Treasury Secretary Timothy Geithner • Telling Republicans in no uncertain terms to stay out of the Federal Reserve’s BIZ-NASS. As we noted last night, Republicans are coming down hard on the money people pretty heavily, with some threatening to strip the Fed of some of its rights. May we offer a suggestion here? How about the legislators stick to legislating and the Treasury sticks to the money stuff? source (viafollow)
20:40 // 3 years ago