Treasury Department

Liz Warren Demands Obama Fire SEC Chief Over Political Donation Disclosures

Fresh from her Wells Fargo 'victory', an emboldened Senator Elizabath Warren is taking aim at SEC Chief Mary Jo White. As WSJ reports, Warren's ongoing efforts to block administration nominees seen as too close to big business have led her to demand President Obama fire White for her decision not to craft a rule requiring public companies to disclose their political spending activities.

While Media Obsesses Over Pussy-Gate, US Debt Soars To $19.7 Trillion

The US government’s debt level has soared to just a hair under $19.7 trillion. To give it some context, that’s up over $170 billion in just eight business days.... the fastest pace in 13 months. It’s almost as if Barack Obama is intentionally and desperately trying to breach the $20 trillion mark before he leaves office in January.

Heidi Cruz Rejoins Goldman Sachs

While Goldman is best known for creating the revolving door, where it either soaks up SEC "regulators", spawns central bankers and/or Treasury Secretaries like Hank Paulson, a new function was revealed today: providing sabbaticals for the spouses of presidential candidates. Case in point: Heidi Cruz, who left Goldman Sachs last year to help her husband Ted Cruz in his quest for the Republican presidential nomination, is returning to the bank in a newly created role in the Houston office.

Frontrunning: September 22

  • Stocks Advance in Unison With Bonds as Fed Inspires Global Rally (BBG)
  • Soothing Fed gives stocks their mojo (Reuters)
  • Yellen helps Clinton dodge a bullet (Politico)
  • State of emergency called to quell Charlotte unrest over police shooting of black man (Reuters)
  • Hillary Clinton Leads Donald Trump by Six Points in Latest WSJ/NBC Poll (WSJ)

Exposing How China "Cheats On Trade" In The Aluminum Industry

Trump has made international trade a cornerstone of his campaign with promises to go after countries like China which he has labeled a "currency manipulator" that "cheats on trade."  Here is a stunning look into China's effort to "cheat" on aluminum trade.

US Paid Iran Another $1.3 Billion In Cash In Form Of Swiss Francs, Euros And Other Currencies

One month ago, a scandal erupted when it emerged that the US had made a $400 million cash delivery to Iraq (in foreign currencies) to facilitate the release of 4 US hostages held by the regime; many promptly called it a ransom payment. Overnight the WSJ confirmed that this was just a part of a bigger shippment of cash, when it reported that the Obama administration followed up a planeload of $400 million in cash sent to Iran in January with two more such shipments in the next 19 days, totaling another $1.3 billion.

Frontrunning: August 31

  • Treasuries Extend Drop in August on Fed Outlook as Dollar Gains (BBG)
  • Oil slips on dollar strength, still set for monthly gain (Reuters)
  • Trump to make dramatic trip to Mexico before immigration speech (Reuters)
  • Rep. Debbie Wasserman Schultz Beats Back Florida Primary Challenge (WSJ)
  • Ban cash because... SWIFT discloses more cyber thefts, pressures banks on security (Reuters)

Frontrunning: August 25

  • Stock futures lower as countdown to Yellen speech begins (Reuters)
  • Italy quake death toll nears 250 as rescuers search demolished towns (Reuters)
  • Central bankers eye public spending to plug $1 trillion investment gap (Reuters)
  • Chelsea Clinton Plans to Stay on Board of Family Foundation (WSJ)
  • Bond Traders Are Desperate for Direction From Yellen in Jackson Hole (BBG)

"A Date Which Will Live In Infamy" - President Nixon's Decision To Abandon The Gold Standard

Instead of impeachment proceedings and his ultimate resignation for the juvenile break in at the headquarters of the nation’s other ruling crime syndicate, Nixon should have been imprisoned for this deliberate and destructive act which has led, in large measure, to the nation’s crushing and insurmountable debt burden, reoccurring booms and busts, and now economic stagnation.

President Obama Violated The Law With His Ransom Payment To Iran

The circumstances of Obama’s enormous cash transfer to our terrorist enemies raise serious questions about whether American policy against paying ransoms to terrorists has been flouted. But that should not obscure a more fundamental issue: The president has violated the law.

State Department Admits Obama Lied - $400 Million Payment To Iran Was Contingent On Prisoner Release

If you define "ransom" as "a payment exchanged contingent on the release of a hostage" then you find yourself forced to admit that President Obama lied last week when he aggressively denied (and was irked at the question) that he paid Iran a $400 million ransom for the return of 4 hostages.  Today, The State Department's spokesperson John Kirby told the truth that the Iran payment was contingent on the prisoner release... but of course spun this 'ransom' payment as masterful diplomacy "deliberately leveraging the moment."

Obama Lied: New Details Confirm $400 Million Given To Iran Was Indeed "Hostage Ransom"

For the self-described "most transparent administration ever" it appears keeping the lies straight is becoming harder and harder. Having slammed the press, Donald Trump, and anyone who dare mention the "lack of logic" in paying a $400 million ransom for 4 Iran hostages, WSJ reports that Treasury officials have confirmed that Obama lied and in fact, the tightly scripted exchange of cash was specifically timed to the release of several American prisoners held in Iran. Trump was right again.