14 Burst results for "Department Of The Treasury"
Bloomberg Radio New York
"department treasury" Discussed on Bloomberg Radio New York
"The markets. We do it all day long for you here on Bloomberg. Let's begin in Hong Kong. Shares in Tencent right now up about 4%. The company reporting revenue edge tire after two consecutive quarters of contraction, and the strength in ten cent helping to lead the hang seng to a gain of around four tenths of 1%. Other markets across the apac showing weakness were dealing with the effects of a stronger yen in Japan and as a result Japanese equities drifting lower, the end right now with a one 30 handle one 30 95 up about four tenths of 1% against the greenback currently, we rallied in New York given a lot of weakness in the dollar. U.S. yields tumbled on a day when the fed raised rates and indicated more tightening may be in the pipeline, although, in fairness to the fed, chair Jay Powell did say there is considerable uncertainty over how much problems that we've seen develop in the banking system will in effect tighten lending conditions and in turn slow the economy. Something we know the fed has been trying to do. We are looking at a two year treasury yield up a little bit now in yield terms three 95, but to be fair, we were down more than 20 basis points in the New York session. The nikkei, as I mentioned, showing some weakness off about a half of 1%. Right now on the Chinese mainland Shanghai composite down just a tenth of 1% in Seoul that cost be falling just two tenths of 1% and in Sydney the ASX 200 now a week or by around 7 tenths of 1%. Late in the day here in the state's treasury secretary Yellen told the Senate committee that her department treasury is not looking at a move that would in effect back all bank deposits with FDIC insurance, those remarks help to weaken some of the banks, the KBW bank index was down about 5%
"department treasury" Discussed on WTOP
"The federal government could be at risk of a payment default as early as July if the debt limit isn't raised. That's the warning tonight from the nonpartisan congressional budget office. The CBO put out this estimate and its outlook for the federal deficit and economy in the next ten years. It all comes as Congress braces for a fight over raising the debt ceiling, which would allow the government to continue paying its bills. Well, joining us live to talk more about this, Andy Durham, he covers the Treasury Department and economic policy for The Wall Street Journal and good to have you tonight. Thanks for joining us. Thanks for having me. So this is more or less in line with what we knew that lawmakers must come up with a deal by spring or early summer. Is this interpreted as a reminder that this should be handled sooner rather than later? It certainly no surprise to anyone on Capitol Hill that the debt limit needs to be raised sometime in the next few months. What was interesting about the forecast today, which is something that the CBO produces on a regular basis when Congress must raise the debt limit or faces the possibility of having to raise debt limit. Is that there is maybe a little bit more time than some other forecast had suggested before. The Treasury Department treasury secretary Janet Yellen, she had said, last month that the debt limit needed to be raised by possibly as early as early June. And so this forecast pushes the timeline back a little bit from what the Treasury Department had forecast previously. Now, as everyone knows, Republicans want to see significant cuts before they agree to raise the debt ceiling. If that doesn't happen, if there's no agreement on this, can you talk about what the consequences would be to the economy? So the consequences of not raising the debt limit in time could be wide ranging and profound. So one of the most concrete consequences would be the financial market reaction to the possibility that the U.S. would not make its payments on its debts to bondholders. U.S. government treasuries, U.S. government securities are a safe haven asset for financial markets across the world. And so the possibility that those assets would no longer seem so safe could have a ripple effects across not only financial markets, the United States, but across the world. And so you could see huge downturns and bond markets and stock markets and you could see that ripple out to the real economy in terms of interest rates on everything from car loans to mortgages to credit card loans, things like that. And then on top of that, if the U.S. government didn't make its payments to social security recipients and contractors and other people who receive money from the government regularly, there would be an economic impact there in terms of people not having those payments on time either. So there are a lot of different ways that things could go wrong if the government defaulted on its debt. Something we will be talking more about in the days and weeks ahead, Andy, thanks for joining us tonight. Thanks so much. Thanks for having me. Andy Durham covers the Treasury Department and economic policy for The
Marketplace with Kai Ryssdal
"department treasury" Discussed on Marketplace with Kai Ryssdal
"The Federal Reserve's two day meeting on interest rates and on the general health of this economy started this morning in Washington. It is, in case you're keeping track their last meeting of this very eventful monetary policy year. Now, regular listeners to this program will know that I'm a history guy and thus a firm believer that history matters. So I want to tell you a little story about the guy whose name is on the Federal Reserve building in Washington. Mariner echoes. Mariner eccles. Mirror echoes. Mariner eccles ran the fed from 1934 to 1948. That's The Great Depression through the aftermath of the Second World War. Those voices you heard were Sarah bender. She's a senior fellow at the brookings institution. Nina I hacker, she's an assistant professor at the university of Rhode Island and Robert hetzel. I went to work for the Richmond fed in 1975, so I am history and in fact December 16th, the university of Chicago press will have out my third book on monetary history. That book is 697 pages long we do not have time for that much history. But we've gathered the three of them together. Students of the fed as they are to tell you a story about one guy in one moment, a story really about who's responsible for managing the federal government's debt and the story starts. During World War II. December 7th, 1941, no American will ever forget this Sunday morning. As the U.S. turns to war, there's pressure from treasury on the fed to keep interest rates low. So that it would be easier for the Treasury Department to finance the debt. Oh, sure. I want to help my Uncle Sam. Well, you sure, and I also want to help myself. Therefore, I'm going to buy plenty of those defense bonds and stamps. That's the boy. That was Nina I hacker and Sarah binder again. Also, Abbott and Costello, urging Americans to buy war bonds. See Uncle Sam needs that money to build ships and planes, tanks, and what? Thanks. You're welcome. Remember low interest rates make all that debt that the government is issuing cheaper. So to help out Uncle Sam in the middle of a war, eccles and the federal open market committee agreed to keep the rate on long-term treasury bonds below two and a half percent. So the other side of this was that Mariner eccles was worried that issuing debt could foster inflation. But out of a commitment to the president, eccles, stifled those concerns and allowed the Federal Reserve to purchase those bonds as they were issued, keeping interest rates low. They saw it as an emergency measure. Time goes on and we come to June of 1950 and the Korean War breaks out. U.S. planes and U.S. ships are voted into action. Based in Japan by this point, Truman's in The White House eccles isn't the fed chair anymore, that's a whole separate story, but he is still on the interest rate setting federal open market committee. Truman is very, very determined that the fed is going to continue this rape pig. So he can finance the war cheaply. Except households are once again worried that they're going to face shortages that they're going to see rationing. And that leads to an increase in prices. That hoarding doesn't pay. Don't sell America short. Don't buy America short. It's an inflation shock. Here's the inflation shock prices were actually falling in the first half of 1950. Deflation. Technically, at an annual rate of about 2%. Then by January of 1951, inflation was running at almost 8%. Price is going up. Fast. So the fed really did not want to commit to Truman's plan to keep interest rates low. But they have to get treasured back down. Treasury and The White House. So in the midst of all of this, Truman invites Mariner echols and other fed officials. The trumps over to The White House. Up to The White House. And basically gives them a dressing down. Truman and his treasury secretary, a buddy of his, by the way, named John Wesley Snyder, say to the fed in essence, hey, there's a war on. If you give in and let rates rise, Truman had a line something like Stalin wins. It got a little contentious. And there's no resolution. The fed doesn't back down. And when the meeting is over, Truman and Snyder announced that the fed has agreed to maintain this peg of two and a half percent. Well, the FOMC didn't agree to that at all. They made no clear commitment. The White House and Truman had lied and there was no resolution. Okay, it got very contentious. Eccles is outraged. That sent him blistering bad. And so he leaks the story to The Washington Post and The New York Times that this was fabricated. After the times in the post published the fed's account of that meeting, it becomes clear that Congress isn't going to back Truman and the Treasury Department. Treasury knows that it's in a box and Congress will no longer back it up. So it knows it has to come some kind of agreement with the fed. And so we get to march the fourth, 1951, and something called the treasury fed accord. We called the accord, I think it's more of a divorce. We're breaking up the ties, which are driving us crazy. Henceforth, the fed will be in charge of monetary policy and the US Treasury will be in charge of debt. The fed's free to raise interest rates. So here we are. Four or so minutes into the story, and you're probably wondering why I'm telling you all this. Well, this is why. The move to split the connection between the Federal Reserve and the treasury facilitated the development of a gigantic private market for government debt. What we call the bond market. The federal government has something like $31 trillion in outstanding debt right now, a little bit more than that actually. And over the next couple of months, you are going to start hearing a lot about it again as Republicans try to leverage that debt for policy and political advantage. We take for granted that there will always be people in institutions and investors who are willing to buy up America's debt. And the growth of the United States in our ability to respond not just to war abroad but say to the global pandemic depends on treasury knowing that there's a stable bond market. And you can, at least in part, thank Mariner eccles for that. The availability and the strength of American debt comes out of that period. So he has a lot to do with the economy. We have today. Of course, there are decades of monetary policy history between the treasury fed accord of 1951 and the economy we have today. If you're interested, I've summarized this very briefly in 697 pages. It is, we should tell you available for pre order now.
WABE 90.1 FM
"department treasury" Discussed on WABE 90.1 FM
"Phrasing in the editorial that was included was the link to political rhetoric is clear that editorial was written 6 years after the Tucson shooting upon the occasion of the shooting of a Republican Louisiana congressman Steve scalise The New York Times ended up having to correct it twice the next day So it sounds like The New York Times editor admitted He blew it What else did we learn Well so James Bennett was then the editorial page editor He's back in court He's also a defendant here He said as you said he said this is my fault and he said look I'm not shifting to shift the blame to anyone else He acknowledged that he was rushing to get it in print a bunch of other journalists from the times editorial section acknowledge that on the stand as well in the past few days they were trying to get it out the same day that the police shooting happened And he played a heavy hand He kind of went in and redrafted the editorial because he wanted to meet that deadline but also because he wanted to make a sweeping argument about the need for gun control and also the question of incendiary political rhetoric The key ISIS was this an honest mistake as the times is represented or something called actual malice which was the standard set in a Supreme Court ruling in a case involving the times itself back in 1964 that's intended to give journalists in the public running room in criticizing public figures Well what are the stakes here The trial is still going on but if the times loses and Palin wins what could the consequences be for the media at large Well Palin has a pretty high bar to exceed here to win It's you know as I said you know in that case the idea is that there'd be running room for the press and that's something expanding on First Amendment free speech rights And she also has yet to prove that she's suffered any real harms from this She hasn't proved any real loss of revenue She hasn't shown what this was done in the time to correct it as I said the next day Should she win however This would be an essentially a constriction of that protection And a lot of media lawyers are looking at this and saying gosh this will make it tougher for mainstream news outlets to give tough scrutiny to public figures like Sarah Palin So what happens next Well we're expecting James Bennet to come back into the witness stand It's not clear that Palin's lawyers are done with him They sort of jabbed and sparred with him like a heavyweight and a boxing match today They'll be back The attorneys will get a chance to go at him again And then of course there is the governor Palin herself Should be up a bit later in this trial and she'll be able to offer the emotional import of what was like to see herself link to or action committee link to this mass shooting in this editorial with contain these mistakes That's NPR media correspondent David falkin flick Thanks David You bet Secretary of State Antony Blinken is on his way to Australia It's part of a swing through Asia He'll meet with his counterparts from key allies Australia Japan as well as India The meetings are part of a broader effort by the administration to assure reassure Asian nations that the U.S. is still focused on competition with China despite the unfolding crisis in Ukraine And pure international affairs correspondent Jackie northam reports When President Biden took office he made clear his foreign policy priority with China The world's number two economy in a strategic rival to the U.S. Fast forward one year on instead of China The Pentagon State Department treasury and others are all concentrated on Russia in Ukraine Biden's predecessors president Obama and Trump discovered the same thing No matter how much they wanted to focus on China there was always another crisis to attend to So there's been a successive any number of what I would call Michael Corleone moments for U.S..
Daily Tech Headlines
"department treasury" Discussed on Daily Tech Headlines
"Marketing push for WhatsApp with ads focusing on the app's privacy protections over SMS and cross platform support on iOS and Android. In an interview with the verge, WhatsApp had will cathcart said the app has no plans of adding RCS support, arguing supporting the open standard would slow development of WhatsApp's messaging features. Meanwhile, met his messenger started rolling out to support for end to end encryption, two users in 2016, and it's now available to all messenger users. You can toggle it on for any message, group chat or call, though it isn't on by default. So for a new conversation, you can toggle on secret conversations, which shows up as a lock icon. Or in an ongoing conversation, you can use vanish mode by swiping up an existing chat. An acquisition news China state administration for market regulation conditionally approved AMD's acquisition of the chip specialist xix. The conditions avoiding tie ins and discriminating against customers and the deal is now expected to close this quarter. Meanwhile, meta got the EU to approve its acquisition of CRM maker customer. Mat had to agree to not limit anyone's access to the customer API for ten years. The Adobe led coalition for content Providence at authenticity or C two PA has finalized version one of a digital content standard. The standard went implemented, can identify when and where it image or video was created and document changes made to it. Microsoft arm, Intel true pick, and the BBC are a part of the coalition. In Q one, Apple report, its largest single quarter for revenue up 11% of the year to $123.9 billion with earnings of $2 and ten cents per share, both beating and less estimates. Other than iPads, all product categories saw growth in the quarter. Max sales were up 25% in the year to $10.85 billion, followed by services up 24% to $19.52 billion. iPhone revenue grew 9% to $71.63 billion. CEO Tim Cook said supply issues were improving with chip supply on legacy nodes the biggest issue. A new report from the Federal Trade Commission found that U.S. consumers lost $770 million in social media scams in 2021. Accounting for roughly 25% of all fraud losses. This is up from just $42 million in social media fraud in 2017. Adults 18 to 39 reported fraud losses 2.4 times higher than those over 40 due to a focus on scams involving cryptocurrency and online shopping. Investment romance and ecommerce scams accounted for 70% of all social media scams in the year. Barren sources say The White House is preparing a national security memorandum, ordering federal agencies to regulate cryptocurrency and other digital assets as a matter of national security. This is expected in the next few weeks, I would evolve the State Department, Treasury Department, national economic council, and council of economic advisers, creating a regulatory framework for cryptocurrency and NFTs. The White House itself will issue recommendations. Microsoft and 35 U.S. states led by Utah filed amicus briefs with the United States Court of Appeals for the 9th circuit in support of Epic Games and its appeal case against Apple. The states argue that the court should have applied section one of the Sherman antitrust act two Apple, even in the case of a unilateral contract with developers, which prohibits every contract combination conspiracy interest rate of trade..
Bloomberg Radio New York
"department treasury" Discussed on Bloomberg Radio New York
"Than the options we had taken then All options are on the table What we've done is that we've worked closely with our allies in Europe to make sure that we have a carefully designed set of sanctions that would have a significant impact on the Russian economy We have a shared goal in terms of respecting the sovereignty of Ukraine and in terms of standing up and ensuring that we have sanctions at the ready in case a Russian troop enters Ukraine U.S. department treasury secretary walleye yemo outlining the Biden administration's plan of action to sanction Russia the U.S. has put 8500 troops on alert for possible deployment This is Russia has as many as a 100,000 troops on the border near eastern Ukraine At the same time the Department of Homeland Security is issuing a warning that Russia could levy cyberattacks against the U.S. in retaliation warning that Russia could target critical infrastructure For more on all this I'm joined by general Keith Alexander the former commander of U.S. cyber command also the founder and co CEO of iron net general Alexander great to have your perspective on this Obviously cyberattacks from Russia the threat of them are nothing new What makes this time different Well I think right now president Putin is looking at his options of how do I take over eastern Ukraine It's clear that moving a 100,000 troops on the border is a significant statement by him that he's serious about this I think he's still weighing his options And I think what the president our president and Europe is trying to do is how do we keep him from going in Going into eastern Ukraine and doing what he did 8 years ago in Crimea I think that's what he's trying to do And I think he believes it's a good time to do it There's a lot of opportunity here And he's weighing the consequences Those increased sanctions and Europe and the United States coming together to do that versus him getting eastern Ukraine which he's always wanted So this has gone on for a while I think he's now putting a statement in It's a good opportunity from his perspective What's the cost What is the cost I think from my perspective the cost should be They've got NATO and the U.S. allied and Europe aligned on this I think we've got everybody leaning in it was a great move I think by the administration in Europe to start bringing in more oil from the Middle East into Europe I think that's a huge statement because that's a long time and during economic impact on Russia And it means that we can Europe can live without Russian oil and gas and here's how we're going to do it So I think that that's key What I worry about though as you mentioned this is that the attacks on Ukraine could just go in cyber like they did in 2017 And if you recall those not petya attacks impacted the world TEDx merch That destructive wiper virus caused a tremendous amount of problems for everyone We could see the same thing here and it could grow And my concern is this could get out of hand Cyber's an element of national power It's one element and as soon as it escalates we have a problem That's when I would be most concerned about from my former time What about when it comes to a possible cyberattack on the United States What would you be most concerned about there Is it an attack on critical infrastructure Is it attack on hospital records The power grid the supply chain Each one of those has different consequences from my perspective If you think about what are they going to hit There are devastating attacks that they could do against the energy the oil and gas sector Think Colonial Pipeline and a number of those Actions they could do against hospitals But if they do that against hospitals that has a different I think set with our people Going after energy and shutting down the pipelines the oil and gas What would that do to our will to engage That's the question You know what Russia is going to look at What can they do to impact the will of the American people And what can they do to impact the will of the European people in this conflict That will to fight that will to push back is something that we have to consider It could backfire They could think we're going to do this and it would backfire as it did in World War II So I think these are the things that we have to consider as you look at this Emily what it all comes back to is what Chris English talked about a few weeks ago and what they did in the solarium commission We have to now think about cyber as an element of national power How we're going to bring the public and private sector together to defend this nation and to work with our allies We've got to get that going What kind of cyber actions on the United States or Ukraine would lead the U.S. to retaliate And what kind of offensive cyber actions do you imagine the U.S. would take Well I think there's both covert and over operations and things that we do I'm sure they would consider all of those And really what the National Security Council would do is bring all that together They bring in general nakasone and the team and say what options do we have What can we do to respond What would we do diplomatically What we do do economically what can we do in cyber And what other actions can we and our allies take All of that comes up with a series of capabilities that the president and the principal committee would look at And taking all that together from my perspective you've hit some of the key things Critical infrastructure What do they do If you hit critical infrastructure and it causes significant damage to this country I believe it will not go without a response And what that response would be is where the president has a choice And the Secretary of Defense they get together to say what are we going to do And he should those the calculation has to go we don't want another war But we can't let people like president Putin just take over countries like they did Crimea And we are going to see multiple sites of this Emily We're seeing it in the Middle East and you're seeing it in Asia And this is a really tough time And I believe it's going to get worse All right We'll.
The Politics Guys
"department treasury" Discussed on The Politics Guys
"Two punch you take a look at one of my favorite websites in the entire world is to saint louis feds economic research site which is just full of charts and graphs and fun stuff for people like that and you take a look at that. Federal debt and. There's a huge huge up night. Even like a sky slugger skis seek ski slope. It's the empire state building. It's just like exempt and so that's why in a way. I'm not terrific. Lee concerned. But i i wanted to talk about that point. You made about the indicators. Because you're right. Sometimes those things can be lagging indicators. But i'll also point out that one of the most common indicators we use is the inch is the interest rate on ten year treasuries and of course those are investors who are looking well that far out into the future and so maybe that is. I would argue a slightly less lagging indicator then many which is not to disagree with your point entirely but just to say that. I think that's maybe a little less sell than something like say looking at the housing market for the previous recession that being that being pretty much lagging indicator and some other things like that. That's that's a fair point. That's a fair point. Now you know the last piece here. That i wanted to kind of talk about on this. Mike is to think about the fact right. We still do. We don't want to spend too much time. We still do have of course to and you point out to big spending hopes coming from the bind administration and from but to get them through. They're gonna need reconciliation but we only have one more reconciliation to go. Do you think the fact that we've now extended this but mcconnell's put the stamp on it changes the calculus on that makes a little bit more difficult since we're going to need to see that coming via singular reconciliation process. Because as i understand that there's a way to work the the work the senate rules where they can get to reconciliation bills before the end of the year. So i don't really. I don't really think that's a that's a problem. And and if they need the besides the process in the end i think they'll have the votes to do that sort of thing as opposed to just something more radical doing away with the filibuster. Which which. I don't which i don't think will happen and i gotta say speaking of radical that idea that. I'm sure you've heard time a few times when when this comes up. Is that idea of minting. A one trillion dollar platinum coin as sort of a salute. that that's the thing and i gotta. There's a certain appeal to that. Some listeners may know i'll under legislation. congress passed most recently in two thousand and one. The treasury department treasury secretary can basically authorized the minting of a platinum coin at any value without congressional approval. And so there's nothing that law as if read literally means that you know janet yellen could say here. Here's a trillion dollar coin. And we're just gonna draw on that. And i think i've seen some fanciful interesting designs that sort of thing and that's one way out of it but somehow i don't think janet yellen is going to take that take that i mean i think the amount of blowback that that would create in the confidence. Yeah but it is interesting where people won't go when they think here's the way but but i think we should roy. Yeah i think in terms of how how this will play out. I am with a high degree of confidence. I think this this gets taken care of. And we get the white one trillion half a half a trillion dollars in new spending infrastructure bill and we get around two trillion dollars in the in the other in the other before the end of before the end of the..
Geek News Central
"department treasury" Discussed on Geek News Central
"Up. Table and apple told all the chips you know. You can't hit your number every time but When that seven comes up you're done using a little. Craps analogy alright talking about Craps and money the treasury's taking sanctions at aiming to block ransomware groups from cashing out. So the us department treasury is is basically sanctioning virtual cryptocurrency exchange selects s. u. e. x. For its role in facilitating ransomware. Pant payments the sanctions of the first of its kind against the cryptocurrency exchange prohibited americans from doing business with the company. It's delays action is part of the us government. Whatever ever to counter the riser ransomware including across agency tax force and a ten million dollar bounty for information on state-backed cybercriminals that has so far seen mixed results just this week. The black manner re ransomware group demand invite point nine million in ransomware from hacked iowa farm service provider but now that they had put the put the kabosh and being send this money through sue x. s. u. e. x. he may be a loss for that That company that's now facing you know a ransomware situation but this is going to really cut the flow of cash from coming back to them so it's being said sue his lauded. The move is a big win. A wait chanel asus. C. h. a. n. a. a. l. y. s. i. s. which aided the us vacation of suez has lauded move as a big win leaving the exchanges one of the worst offenders of cryptocurrency based money laundering and a blog post blockchain analysis. Firm said souks netted almost thirteen million dollars from ransomware operators like rocks and maize since exchange exchanges found in two thousand eighteen to analysis also said they changed gained more than twenty four million dollars from crypto skim operators so You follow the money. That's where that's where you that's where you go. And that's the power of the united states treasury is Is basic say. You can't send money. You can't do business through them and it really drives up the bill ability of these people to not be tracked. Amazon switching gears here amazon is envisioning a department store. Full of qr codes high-tech dressing rooms in a report apparently might be able to use qr codes request clothing to try on the report. Saying people in the matter journal said the tech giant's looking ways to combine the experience of shopping online and in a physical store customers able to request clothing tryon by using qr codes for example and could use a touchscreen it would also recommend additional items robots and other types of automation might also play a role in the store through the report. No the plants have not been finalized as company policy. We do not comment and rumors or speculation. Amazon spokesperson told cnn via email. Of course in august it's being reported amazon's planning open at thirty thousand square foot department store. Ohio and california sell items like clothes and electron ix. So you know you need. How have you bought shoes lately. You know. I like sneakers now. At for many many years. I wore nothing but Steel toe boots and for me. You know it's it's a joy now to be able to just wear sneakers and It's it's really hard when you have narrow feet to be able to to basically no it size to buy especially when it comes to shoes try shoes on walk around in you. Think you got the right size and then the later have warmth a little. I like man. Wish these a hapless is bigger. So i run into this issue all the time so with nyc. I know what size my shoe has been. Nyc might make use is a nine point. Five with nike shoes. I never went wrong with a nine point. Five attends too big too small. So when i go into a shoe store and requested nine point five and get a shoe and it's usually does. It's not the same. How come they can't get the sizes the same. It's like every hubei buy it's either. It's either one upper one down. So e sales must hate. Bring me a nine. Bring me a nine and a half and bring me a ten of the same shoe. That's what i have to do. I don't know about you same thing. How much time in money is being spent that guy gone back and forth back and forth. When it'd be just better you see issue you like. And in this instance scanning qr code and the robot brings you three boxes and you picked the one you want. You put the two back on you go. Yeah some of you like the experience of ask salesman looking at your feet i. I don't need a salesman can make beat i. I need but she's on. They feel good. Walk around looking at mir. You know you know busy being busy boom in and out now ladies. I know i know it's that doesn't work for you so much but for me that i know what i want. I know get out so maybe not only amazon. But why can't other companies adopt some of this. I'm sure what it is is. The technology costs is very very high and with marge's being very narrow. It's easier just to pay that. Have two or three people on staff that's running back and forth getting different shoes but if you think about labor that's all you need someone in the back stock. So amazon may be onto something here when it comes to close same thing. With with jeans. Like levi's i know my size most of the times for certain series of levi's betty go and you know you buy stuff online all the time and again is like it's too tight. It's to to short or i. Why can't companies get the sizing right that. That's what i want to know why this wh year we at twenty twenty one right. Most of the stuff is designed by computers now anyway we should have the measurements in sizes exact. It shouldn't run different from company to company. I know different ways different. Legs sizes all that stuff in seem. Yes i know. I know what my in seem is for. And what length pants i need. Get it done. Dell ceo michael dell wants love big ticket acquisitions but not anymore dell's ruled out major takeover some feature on insists focus on partnerships or product offerings. He said during analysis presentation livestream on thursday. So they've spent a bunch of money over the years billions of dollars buying things. Some failed some successful. Some weren't they say we're not doing that no more were doing partnerships so interesting That they're making that business. Move a lot of these. Big big deals. Don't end up so well you know. Look at look at the purchase of yahoo and you know.
Biz Talk Radio
"department treasury" Discussed on Biz Talk Radio
"About money and finances and mortgages, all the things that I I feel pretty passionate about because you know you only know what you know, and you don't know what you don't know. And sometimes it's too late. If you especially if you have someone that doesn't know the warning signs of red flags. Another example. I have this really nice agent that came in to see me the other day talking about one of her clients. Could I get him pretty approved and we're going to call her Barbara. It's not her name. Not even close to her name. So don't worry barbers out there. So, Barbara Came in and said, Okay, this is what I want to say. Hey, by the way, could you maybe help me with the mortgage, But I've got some issues and I'm like, Oh, don't we all everybody's got issues. What? What could your issues be? Well, she's a single mom. She has two kids. She is an American citizen. She is from Pakistan. No problem with any of that. She's a real estate agent. She's brand new. She had a big business, dry cleaning business and sold it right before Covid and then all during Covid. She studied for her real estate test, and she passed it. So now she's an agent, and she hasn't done any transactions yet, So everything is new to her and I went and spoke at a real estate function the other day, So I have a lot of new little agents calling me wanting to help. Which I am glad to give. I'm very happy to give because if they bring me deals, I can help them work out their deals. And then I get the mortgage. So I'm all for teamwork here. So she said, OK, Uh oh. I named her Barbara. I couldn't remember her name. So, Barbara said so. This is my story, she said. I make money off of investments. I haven't started making any money in my real estate business yet. And if you get into real estate you've got to have Two years worth of taxable income before we can end didn't use it anyway. So she's brand new that would never work. She doesn't have a job. This is it, Okay? You think that would be fine? Yes. Taxable income. She makes nine grand a month. Sounds wonderful. Love that idea, And then she said, so. I'm divorced. Um, I have the money in a fund and I said great. She goes well, I used to have it with and this is where things get dicey. Because people always have to explain their way out of where they're at. And why are there at where they're at, and that's when you know the story. The plot thickens. So, she said, So I used to be at Morgan Stanley and they had all of my money and I make $9000 off my initial investment. But they were only paying me 4%. I said, okay. I mean, that's about the going right here in the United States. She goes. So I called my dad and in Pakistan, I can get 12% like Oh, my gosh, You've got to be kidding. She goes. No, no. So I took all my money out and I moved it transferred into Pakistan. I'm like, Oh, she was like Is that a problem? I'll just and that's where I'm going to get the money to put down. Like it depends. So I started calling all my lenders and I'm like, how do I bring that money back to the states? See once you will you make it in this state. She was well, It's not a problem because I made it here. I mean, it was part of my divorced. I'm a citizen. It was in California said Yeah, but you took it away. You took it outside the United States so now bringing it back in its foreign money. She goes. No, no, no, I had it here. I'm like it doesn't matter what you had matters what you have. Now, What you have now is foreign money. And now we've got to get it back over here in the states, So she is going to get into a special program where I can use money from not the United States. Only because of the money is in dollars. It never transferred to whatever money they have over there, and the statements are in English, So I think probably she's going to come by again this afternoon. And we're going to print out all those statements so I can see where the money is at. I think they're probably having Affiliate banking relationship with someone here in the states. A lot of those banks do that They have foreign banks. But it's not really quote a foreign bank even though it's located there, But it has trading skills with the bank here in the U. S. U. S Bank has a lot of those trading things. Um, Banco Popular has a lot of trading capacity with other countries, so it's really important. Not that she doesn't have a job and not even that she has investments, which is great. We can use that. But it's where the money is coming from. And the reason that's a big thing is because the U. S department Treasury. Um, the government, the big guys. They're telling us right now where we can get money from and where we can't. There's a lot of countries. You can't bring money in from to buy anything here in the United States. So Egypt is one of those countries. I'm sure Pakistan might be. I've just got to find out. I've got to get that list. So I've got to log on to the State Department and find out what I can find out and then call my lenders. Once I get her, um Once I get her everything, and you know it really see where we're at. It's it's things that she didn't know back then or she probably wouldn't have. Well, I think she will still want to move the money because she got paid three times, four times what we paid here in the United States so anyone would move the money. The problem is There are ramifications for our actions and there are ramifications for our inactions. I got another call from a friend yesterday. I seem to tell you these stories all the time because it's easier. It's my real life. It's you know, I get a call every 10 minutes with something and somebody and they all have a story. Um, so I have a friend that's in a smaller community here in Texas. She got divorced, like 20 years ago. Been single all this time, and she is, um she has a regular kind of office job. Doesn't get paid a whole lot, maybe 100,000 year, which is good for her and what she does, and in a small communities she's in, and there was a mistake made when her husband, her ex husband retired, So in many states, you don't get a piece of their retirement when you divorce them until they take that retirement. So he was a member of a of a company and they had a pension plan and that pension plan once he retired, he had access to it, And it's a predetermined amount, like the railroad or the electric company or whoever you have your pension with and they tell you how much you're going to get based on how much you put in..
Mike Gallagher Podcast
"department treasury" Discussed on Mike Gallagher Podcast
"Does seem like there is a tremendous pushback happening right now in america and i'm i'm really really honored to be sort of on the front lines of this pushback. A trump keeps getting vindicated. The biden administration keeps stumbling in a major way and things are happening. They're trying to throw the left. Does what the left does. They're throwing everything they can to see. What sticks this week. There was a big revelation that the top twenty five wealthy americans paid no federal income tax. Now you know a lot of people understand how that works. Half of americans don't pay any federal income tax either make too much too little. But that's what's wrong. With our tax code that's the inequity of our tax code in america the unfairness of taxes is astounding. You don't pay any federal tax. You don't have any skin in the game now. Wealthy people that have gazillions of dollars. Like bazo and michael bloomberg they pay taxes in a variety ways. They just might not pay federal income tax. Well when this was released this week by propublica pro public publication of a so called vast trove of taxpayer information lead elizabeth warren and left us to say a ha see. The wealthy. don't pay their fair. Share the optics of this story are bad. There's no question about it. I said that as soon as it came out. And there's also a secondary concern. How did propublica get. Its hands on private confidential tax returns of americans that is illegal. You know right. I mean nobody. Even the mainstream media won't even bother to acknowledge the illegality of that act but there is one organization the wants to acknowledge do more than that in fact the andy mangione joins us every week. From amac the association of mature american citizens. I was reading over at amac dot. Us how senator braun and other senate colleagues are calling for an investigation into the weaponization of irs data. Hey andy always great to chat with you every week. Today it's friday. Let's talk a little bit about this real scandal. The amazon paying much attention to but you guys are absolutely micro watching very closely letters. Set to request an investigation of taxpayer service. Data that you just mentioned was recently leaked by the website propublica senators blackburn leaked cruise. Ron johnson have made this request to acting to the acting treasury inspector general and the inspector general for tax administration. Now mike these senators want to know how desirous information was lost and hold accountable any individuals who broke federal laws by inappropriately sharing confidential tax information. The senators note like that american citizens have reason to be distrusting having witnessed personnel weaponize information in recent years for the purpose of targeting certain tax exempt organizations for political reasons during the obama administration. The senators believe mike that it appears personnel with access to americans personal and confidential information are again misusing protected information for political reasons and they want the united states department treasury and the irs to hold accountable any individual who broke federal laws by inappropriately sharing the confidential tax information of multiple americans. A mac. we'll be tracking this scenario closely and we will update our members on the progress of this request. Well it's important. Andy because you know arguably this is what the left is doing to conservatives to trump to republicans up and down the board you think about what's happening with the us attorney's office in new york the southern district in manhattan. They're going there trying to go. After the trump organization they're pouring through apparently tax records. They convened a grand jury. What they're trying to do an investigation in search of a crime turns everything on its head. That's not the way it's supposed to work. That's not the way you're not supposed to have activist political hacks representing the justice department represent the. Us attorney's office certainly not representing the irs. And yet as you as you point out. Andy this is weaponising. What should be secure private information. Tax payers of all income levels need to have the confidence in our institutions. That they're not gonna be weaponized for political gain. Absolutely mike is there. Any reason by americans are very wary of these institutions. today no none whatsoever. Is there any. Is there any shock. That americans are wary of the news media. We've been talking today about the the eight at least eight ways. That trump has been vindicated just in the last few weeks the inspector general report revealing that they did not clear out. Lafayette park of peaceful protesters say trump could have a photo op. That was ally the wuhan virus lab leak theory that trump has been talking about for many many months. Well got a lot of credibility right now. I mean on. And on and on you know. Andy i i know i hate to drag you into the political waters but while i've got you today let's talk a little bit about what amac members say about the trump years about the country going forward now. We're getting warnings about inflation. Having arrived now we're seeing all kinds of of catastrophes on the border. I mean it feels like this country has taken a very bad turn since trump left office. I've been sort of talking to listeners. All over the country today about whether or not it's a good idea for donald trump to run again in two thousand four. Do do amac members wade into that territory. Absolutely mike and i'll tell you how they wade into it now. You understand that. We don't endorse a candidate but we do support conservative principles conservative legislation conservative policies. We pulled our members at the end of twenty twenty And allow them. I actually asked them to vote on. Who should be max man or person of the year. guess voted for over welcoming overwhelmingly. It was president trump and we are working to bestow president trump with the dan in judy weber. Amac founders award a. Were still working to schedule. That with the with the president but our members have spoken. They had a laugh at choose from and it wasn't even close. Mike i think that says it all right there it sure. Does it reminds everybody listening. Why you should tear up your aarp card and join amac. This is a powerful grassroots organization representing fifty plus americans in a way that no other organization does. I'm honored to be a lifetime. Honorary member. And i hope everybody will sign up at sixteen dollars a year to get your aim at card. Get all the benefits and discounts. They get everywhere else. And you're working with an organization it's fighting for our values..
"department treasury" Discussed on KQED Radio
"In for 10, Xena Vega. Good to have you with us. We just heard about how immigration courts are structured and their functions or lack thereof under the Department of Justice. But this is a long and interesting history. One that our next guest has written a lot about with us is Alison Peck, professor of law and co director of the Immigration Law Clinic at West Virginia University. And the author of the Accidental History of the U. S. Immigration, Courts, War, Fear and Roots of Dysfunction. Hi there, Alison. My man. How are you doing? Well, thank you. Hope you're well as well. I'm curious. We just heard from Reporter talk open about the structure of the courts. Can you tell us about your experience as an attorney representing immigrants in immigration court? And some of the confusion that could take place. Sure, Yeah, our clients were experiencing some really disturbing effects because of the structure of the immigration courts, which is what got me interested in writing this book about the history of how God this way. So, for example, because ized the reporter mentioned, the attorney general can refer a case to him himself at any time him or herself. That happened with more frequency during the Trump administration than at any time in in the past, or approximately four times more frequently than even the most active previous administration. So what we were experiencing was one of our clients. Many of our clients being in the immigration court for their removal case. Having a defense that we had identified, was available to them, and then sort of halfway through their court proceeding. Theater knee general coming down with the rule that foreclose or at least purported to read the law in a way that foreclosed the relief a bill to that person Um, sort of moving the goalposts back halfway through the game, essentially with no public input. And this involved like attorney general intervening in a case that resulted in one of your clients getting deported. We have not yet been in a situation where we've exhausted. All appeals in the client has been deported. Part of the reason for that is the delays that the reporter they get the best performing was talking about so most of these things have been continued, or they're still pending on appeal on day do take many years to resolve, but we do have how clients who have had adverse rulings because of decisions that were handed down by the attorney general during the last administration. Okay, So you were dealing with this issue, and then you wanted to get to the root of why we have this strange system. So let's break down some of the history you write about in your book first before Immigration courts were part of the Department of Justice. What which part of the government handled immigration? For that They were in the Department of Labor on by the reason they were there was really because nobody else wanted. Essentially, it was you know it until the late 19th century. We don't really have restrictive immigration laws. Impression was encouraged, so you didn't need to have a government department that was handling immigration cases. That really started in the late 19th century, And at first, it was mostly just a matter of inspecting the ships and, you know, making sure that everybody there was fit to come in and collecting attacks on people coming in so originates in the department Treasury. Um, just come to collect that tax. But that wasn't working very well. Treasury was really overburdened. And so it was briefly moved into the Department of Commerce and Labor, which existed for a while, But then you know, we're in the air in the industrial revolution where the progressive era and labor is not happy about the fact that you know, management of labor in the same department of Labor's been in short trip, so the Department of Labor gets created and, um But you know, this is during a time of what lawyers call the Lochner era, a time when there wasn't much economic, regular federal economic regulation because it was perceived by the Supreme Court as being a violation of due process, so those kinds of laws are being struck down. So that this Department of Labor that was created in order to appease labor to make them feel that they had a seat in the president's Cabinet, really, in every much to do. There wasn't really very much legislation for them to implement. So somebody got the idea. Hey, well, you know, a lot of immigrants become laborers. So let's put immigration in the Department of Labor because we can't figure out where else to put it. So that's where it Woz when the new deal hit, and suddenly federal labor law becomes a real thing. And then President Roosevelt is reluctant to move the court's out of labor. But then that changed and ultimately during world would guess that the onset of World War two it moved from labor. DOJ. Why did that happen? Right. That's something that really intrigued me. As I was writing this book s O. I really think that there's two things that he was dealing with. So on the one hand, he had the immigration services in the Department of Labor at a time when he's trying to restructure federal labor law, essentially in the federal role in labor theme, the secretary of Labor under Roosevelt was Frances Perkins, who also I think not, incidentally, was the first you female U. S Cabinet member. In female Cabinet member in U. S history. And the reason I say that wasn't incidental is because I think the fact that she was a woman made her a a target for a lot of opposition. It was it was easy to T O to single her out and to say that she was soft on communism and soft on labor ourselves on immigrants because she was soft on communism. And so at a time when there was a real Communist scare, there was a lot of suspicion of the Department of Labor. She herself Perceived a conflict because the Department of Labor had to deal with immigrants to the extent that they were representing labor in labor unions, But then they also had to enforce the immigration laws. So so there was there was an attempt to impeach Secretary Perkins that failed, but it's certainly impaired her political credibility. So on the one hand, Roosevelt is dealing with this situation, which, with you know, still fragile New deal. Legislation and on the other hand, is also facing this growing Nazi threat and an isolationist Congress that that was suspicious of him suspicious of his concerns. And at that time, you know this is before the creation of CIA. United States effectively has no intelligence service they had you had different departments of the government sort of jealously guarding different aspects of it. But, you know, the United States have been kind of, you know, perceived itself is being immune from Ah lot of these global political pressures prior to that because of geography but are starting in 1940. Aziz, the Nazis invaded Europe that that comfort level went away. Alison, We have to take a quick break, but.
WBZ NewsRadio 1030
"department treasury" Discussed on WBZ NewsRadio 1030
"It's in the breakdown. Lane 4 95 North done right by route 62 in Berlin. Laurie Grandi. WBC's traffic on the three started to get some winter weather advisories posted in the region. Let's check the four day WBZ AKI Weather forecast now and meteorologist Dean DeVore. You were looking at the worst of these conditions, probably away from the water, but I do think you know, we'll see some problems here tonight into tomorrow morning with some snow showers. This has been a very difficult situations, not one big, organized piece of energy here that's coming at us. It's kind of in pieces. There's a piece that's given Chicago and Detroit fits this morning. There's a piece that'll come up towards us Later. Tonight or later this happening this evening. I think any precipitation holds off to a late afternoon into tonight. We're looking at temperatures to be up into the Mid thirties at best today, with the real fields not far from the temperature. It's that precipitation breaking out is snow, mainly, but as we get into tomorrow morning in tomorrow afternoon, I think the snow showers kind of mixing with some rain and sleet, especially coastal areas in the city will be up in the mid upper thirties. Tomorrow afternoon. Probably going back to snow showers. Tomorrow night is some cold air wraps around And then a few flurries or snow showers Thursday colder with real fields, teens and twenties and then on Friday, we're looking at a colder day with highs near 20 degrees 15 to 20 for the high on Friday. That's gonna be how cold this next air masses in to Boston, I'm accurate meteorologist in DeVore WBZ Boston's NewsRadio 27 in Boston. If it's time to replace your old windows, all right. Window. Correct. Now call 806 49 36 100 or schedule an appointment online and right window calm, a better window installed for the right price right window. Good morning. It's 9 26 earning season has arrived on Wall Street. Let's check out the numbers now and what's moving the market with WBC's Dave Caruso. Morning, Dave. Good Morning. Wow, I haven't seen a flurry like this in a long time. There's a whole lot of optimism. Now, let's let's start a little bit with some tempered discussion, though You know the Dow. It was up. It was up around 60 and at one point this morning, and it's up 90, so we're moving in the right direction. S and P up about three NASDAQ up about 10. But the reality is, you know, I'm looking at a probably about 12 or 13 stocks that have got some amazing things that are continuing to move. So this is probably one of the busiest mornings I've seen in quite a while. Now. Needless to say, we got a lot of things that we're dealing with. This year. We got jealous Janet Yellen behind us now for the department, Treasury, So hopefully that'll help a little bit. Maybe we've got Mitch McConnell also seating a little bit of the The power share. Maybe that'll help a little bit as we look at this 100 day focus, But you know, in looking at this, which still about the vaccine, so the good news is we're hearing good things, And I think that's really gonna help the market a little bit more here today as well. Also, we've got the stimulus plan 1.9 trains a lot to be looking at here. We've got case Schiller numbers this morning up 9.5% from a year ago. The biggest problem I've got is that they don't have enough materials in the inventory isn't there, so I think we're feeling good, And that's a good predictor that you know. Once we start buying stuff again, that's going to be good. So I think this is a very good omen. J and J is on track for some vaccines for next week. American Express, and I'm not gonna go through every single one of them. But basically, you know, we're seeing deals with beyond meets and snacks with Some of the major players that we saw with Pepsi. But I'm looking at 10 different companies, and we're talking about Horizon Twitter, Microsoft, Johnson and Johnson under armor. This is one of the biggest parade I've seen in a while, and most of them are good, so hopefully we'll get a little bit more mentum. But I have not seen this sort of excitement in terms of the hearings parade in a long time, so this is a very good omen. All right, Dave. Thank you. It's 9. 28 think will happen to the economy and the stock market with lockdowns, crushing small businesses, the government deficit spending trillions and taxes skyrocketing to pay for it all. Hi. This is best selling author Brett Kitchen. And Do you really believe the historic stock market will continue higher in this scenario? Would it be smart right now to take your chips off the table and cash out walking in the historic.
Newsradio 700 WLW
"department treasury" Discussed on Newsradio 700 WLW
WTOP 24 Hour News
Secretary of State Pompeo says hack was 'pretty clearly' Russian
"Cyber attack that has struck at least seven government agencies. Secretary of State Mike Pompeo was the first Trump administration official to publicly blame Moscow for the hack. He talked on the Mark Levin show. Significant effort to use a piece of third party software to essentially in bed. Code inside of US government systems and now appears systems of private companies and companies and governments across the world as well. This was a very significant effort on and I think it's the case, but now we can say pretty clearly. That was the Russians that engaged in this activity. The growing list of federal agencies compromised in the hack includes the State Department, Treasury, Homeland, Security, Energy and Commerce departments. As well as the National Institutes of Health. Where can you