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Why so many rich Americans think they’re middle class

Recent remarks from Treasury Secretary Jack Lew help shed light on a troubling phenomenon

The Treasury Secretary’s Misperceptions About Wealth

6 days agoNews : Truthdig

By Treasury Secretary Jack Lew’s reckoning, being a millionaire does not constitute living high above the ranks of ordinary people.

The 15 Schools With The Most Grads At JPMorgan

JPMorgan Chase probably has the broadest — and weirdest — history of any American bank.  Its story includes a role in killing the first Secretary of the Treasury, helping to win World War I, and contributing to the 2008 financial crisis.  Like the other major Wall Street firms, landing a gig at JPMorgan is a ticket to a higher tax bracket. Show More Summary

Ofcom annouces Sharon White as its new Chief Executive

The Ofcom Board has announced the appointment of Sharon White as Chief Executive from late March 2015. Since October 2013, Sharon has been Second Permanent Secretary to the Treasury, with overall responsibility for managing the UK’s public finances, including implementing the ongoing fiscal consolidation. Prior to this role Sharon was formerly a Director General at the […]

Machiavelli’s ” The Prince” On and Off Wall Street

On my first visit to interview Donald Regan as Treasury Secretary in 1982, the former Marine officer and chairman of the investment giant Merrill Lynch, yelled out to me as I entered his huge office; “Lenzner, Why didn’t you tell me to read Machiavelli’s ” The Prince” before I got down to Washington?” In keeping […]

Administration Stands Behind Treasury Nominee, Secretary Lew Says

"We're going to continue to press his nomination forward," the Treasury secretary said on Thursday. He also spoke about corporate tax policy and the impact of sanctions on Russia.

Ten Things You Need to Know Today: Monday 8 Dec 2014

TORIES AND LIB DEMS CLASH OVER ECONOMY David Cameron said yesterday his Lib Dem coalition partners were “all over the place” on the subject of cutting the deficit, while, writing in the Daily Telegraph, Lib Dem Treasury secretary Danny Alexander said the Tories were in a “pre-election panic”. Show More Summary

Antonio Weiss Is Not Qualified To Be Under Secretary For Domestic Finance

By Simon Johnson Antonio Weiss has been nominated by President Obama to become the next Under Secretary for Domestic Finance at the U.S. Department of the Treasury. Mr. Weiss’s supporters argue that he is highly qualified for this senior fiscal … Continue reading ?

Elizabeth Warren Doesn't Like This Treasury Nominee. Here's Why.

Last year, liberal darling Sen. Elizabeth Warren helped doom President Barack Obama's effort to nominate former Treasury Secretary Larry Summers to head the Federal Reserve. Now the Democratic senator from Massachusetts is leading the charge to derail another Wall Street-friendly Obama nominee: investment banker Antonio Weiss. Show More Summary

U.S.: Chinese economy should wean from cheap labor model

3 weeks agoNews : The Newsroom

The United States on Wednesday said China needs to move away from its cheap labor and export-focused economy to maintain growth in the years ahead. US Treasury Under Secretary for International Affairs Nathan Sheets also said EuropeShow More Summary

Skadden Hires Senior Treasury Official

Cyrus Amir-Mokri, a former assistant secretary of the Treasury who oversaw efforts to develop cybersecurity policy, has joined Skadden, Arps, Slate, Meagher & Flom as a partner in New York.

Wall Street Nostalgia for Geithner

The warm welcome bank chieftains recently gave the former Treasury secretary could be misinterpreted as appreciation for an old softy, Rob Cox of Reuters Breakingviews says. Instead, it was recognition that the current regime doesn’t have its heart in financial regulation, he says.

Treasury secretary: Obama is ‘open’ to short-term tax deal with House GOP

Treasury Secretary Jack Lew said Tuesday that President Obama is wiling to consider a House GOP proposal to extend an array of special interest tax breaks for just a few weeks, calling the measure preferable to a much larger deal under negotiation last week that would have left out White House priorities for poor and […]

Obama’s Argument Against Keystone XL Pokes Holes in Industry's Argument to Lift Crude Oil Export Ban

Larry Summers, former secretary of the treasury and top economic advisor to President Barack Obama, has strongly advocated to lift the crude oil export ban. And he has a compelling, if not necessarily fact-based, argument. “ Permitting...Show More Summary

Elizabeth Warren opposes President Obama's nomination of a career Wall Street banker as new under se

Elizabeth Warren opposes President Obama's nomination of a career Wall Street banker as new under secretary of the Treasury. Who in the media is brave enough to take up the cause of defending this humble banker from the misguided populists? Read more...

It Would Take a Lot of Mismanagement to Raise the Cost of Treasury Debt by "Just" 20 Basis Points

Andrew Sorkin criticized Senator Elizabeth Warren for her opposition to Antonio Weiss, President Obama's nominee to be the under secretary of Treasury for domestic finance. Sorkin argues that Warren is mistaken about his role in corporate inversions done to evade U.S. Show More Summary

Sen. Warren’s Misplaced Ire At Nominee

Less than 48 hours after President Obama nominated Antonio F. Weiss, a longtime adviser on mergers at the financial advisory firm Lazard and a Democratic supporter, to become the under secretary of Treasury for domestic finance, Senator Elizabeth Warren denounced the appointment and said that she would vote against his confirmation.

GOLDMAN: Larry Summers Gave A Depressing Economic Outlook Last Year, And So Far It Looks Wrong (GS)

About a year ago, former Treasury secretary Larry Summers gave his famous speech at the IMF about "secular stagnation." The basic idea behind secular stagnation is that the economy in its current condition is unable to create enoughShow More Summary

Ten Things You Need to Know Today: Sunday 23 Nov 2014

CABLE SLAMS OSBORNE TAX ‘FANTASY’ George Osborne’s plan for £7bn of tax cuts is a “total fantasy” warns Vince Cable. The business secretary told The Observer treasury officials believe the chancellor’s pledges are not affordable. “When...Show More Summary

Why Larry Summers sees danger ahead for the economy

Like British Prime Minister David Cameron, Larry Summers sees warning lights flashing on the world's economic dashboard. Summers, who served through 2010 as President Obama's top economic adviser and was Treasury Secretary under Bill Clinton, said America should be acting now to shore up its economy, instead of celebrating its status as the healthiest patient in […]

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