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Key Vote: See Whether Your Senators Voted to Confirm Jack Lew Here
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Blog

Key Vote: See Whether Your Senators Voted to Confirm Jack Lew Here

Tonight the Senate voted to confirm Jack Lew as the new Secretary of the Treasury. FreedomWorks has a multitude of issues with Lew being in charge of the Treasury, from his incompetence at the OMB to his risky investments at Citigroup, and strongly opposed his confirmation.

02/27/2013
Jack Lew, Architect Of Budgets Receiving Zero Votes, To Replace Geithner As Secretary Of Treasury
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Jack Lew, Architect Of Budgets Receiving Zero Votes, To Replace Geithner As Secretary Of Treasury

It has been widely reported this week that President Obama will nominate Jack Lew today for Secretary of the Treasury, replacing Timothy Geithner, expected to step down next month. It takes a special kind of crazy only found in Washington DC for someone who has failed so spectacularly to be nominated to head up our nation's treasury (see also: Geithner, Timothy).

01/10/2013
New TARP Direction Puts Taxpayers at Risk
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New TARP Direction Puts Taxpayers at Risk

The Treasury recently announced that it may not need any more money to bail out banks aside from the $700 billion TARP money that it received already.  There is about $134 billion left of the original amount.  Instead of asking for more money, Treasury may convert the loans that it's made to large banks into common stock.  Common stock provide equity, which could help shore up bank balance sheets, but there are some problems.  

04/22/2009
The Flawed Public-Private Partnership Plan
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The Flawed Public-Private Partnership Plan

The Treasury released their plan on Monday to clean banks' balance sheets.  A five page document distributed by the Treasury offers some limited details.  It looks like the plan has the government becoming the largest hedge fund with potential to invest up to $970 billion in risky assets.  $30 billion more will come from private investors who will, according to the Treasury, accurately price the assets because their own money will be involved.

03/24/2009
Who pays?
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Who pays?

Politicians don't like to say who really ends up paying, not just for the massive bailouts on the horizon, but for programs, earmarks, and the day to day waste in government spending.  Few connect the dots between the billions - or in the case of Fannie and Freddie trillions - they write into legislation as if it were Monopoly money and the very real, hardworking Americans who truly foot the bills.  Like Elaine's former boss Mr. Lippman in "The Muffin Tops," politicians wave their hands in the air and say "The money is all in the air.

07/18/2008