Department of the Treasury

More Reasons to Worry About the Senate Bill
November 30, 2009

The Washington Post story most likely to drive conversation today is Lori Montgomery's front-pager, which examines the true cost of the Senate bill. But the one that should get the most attention, and generate the most concern, is David Hilzenrath's article about the bill's coverage provisions. Hilzenrath's primary focus is the many years it would take to get the new system running, a subject familiar to those of you following the debate.

Today At TNR (September 18, 2009)
September 18, 2009

Beyond the Baucus Bill: How Liberals Can Still Win on Health Care Reform, by Jonathan Cohn The Stockholm Syndrome: When Free Speech Laws Are Only Free to Some, by Benjamin Birnbaum Megan Fox and the Banality of Cannibalism, by Christopher Orr Why Obama’s New Missile Defense Strategy Is Good for Both Hawks and Doves, by Peter Scoblic The TNR Q&A: How the U.S. Can Calm the Brewing Latin American Arms Race, by Ben Bernstein THE STASH: Is the Treasury Department Spurring Inflation? by Zubin Jelveh Yes, Some of the Republican Opposition to Obama Is Racist. So What?

The Real Banker Boondoggle
September 17, 2009

Laurence Grafstein: What financiers owe the public.

Is Treasury Courting Inflation?
September 16, 2009

Deborah Solomon and Jon Hilsenrath at the WSJ inform us that, in order to keep from hitting the $12.1 billion trillion debt ceiling, the Treasury Department is winding down a one-year-old program it created to borrow funds on behalf of the Fed: Since last year, the Treasury has been selling special short-term securities and placing the proceeds in an account at the Fed.

Yes, Those Uninsured Numbers Are Legit
September 14, 2009

Anthony Wright is executive director of Health Access California, the statewide health care consumer advocacy coalition. He blogs daily at the Health Access Weblog and is a regular contributor to the Treatment. The new Census numbers are out and they show a grim increase in the number of uninsured in 2008 to 46.5 million--figures that are bound to be worse now 12 months into our current recession. But this number has been under attack for the past year, as conservative columnists, blogs, and other voices repeat the argument that the Census figures are inflated.

Stop the Tax-Vetting Madness
September 11, 2009

Now this is getting ridiculous. From the Journal: President Barack Obama's nominee for the top international post at the Treasury Department has been sidetracked by a Senate committee's investigation into her personal tax returns. Lael Brainard, nominated in March as Undersecretary for International Affairs, is the latest Obama appointee to be tripped up by the Senate Finance Committee. Of particular concern is Ms.

Sachs Appeal
August 12, 2009

Should Tim Geithner's Wall Street consigliere make us queasy?

Stimulus Vs. Bailouts?
July 17, 2009

Last week, the Treasury Department quietly announced it was moving ahead with plans to purchase toxic assets from banks, but in scaled-back form. To my colleague John Judis, this must have been welcome news. For months now, he and I have debated whether President Obama’s efforts would be best spent fixing the financial sector or reviving spending by consumers and businesses.

Why We Need a Second Stimulus
June 26, 2009

Our country’s unemployment rate, which has risen every month this year, now stands well above the worst case scenario of the Treasury Department’s stress tests. Yet we are inundated each month with reports that, in spite of a rising rate of unemployment, the slump has "bottomed out” or is even over.

Treasury: Regrets, I've Had A Few
April 22, 2009

If you haven't picked up on one of the dozens of recommendations from other blogs, I recommend reading Phillip Swagel's long and detailed account of the view of the financial crisis from his seat as assistant secretary for economic policy at the Treasury Department. It's particularly useful for people like me who make a habit of criticizing government officials. The writing is dry, but much of the subject matter is fascinating. It often explains or defends Treasury's actions during the crisis, but Swagel certainly owns up to plenty of mistakes or shortcomings.