September 29, 2008
BUSH: Good morning. Yesterday, leaders here in Washington reached an extraordinary agreement to deal with an extraordinary problem in our economy. Working closely with my administration, congressional leaders from both parties produced the Emergency Economic Stabilization Act -- a bold bill that will help keep the crisis in our financial system from spreading throughout our economy. This legislation deals with complex issues, and negotiators were asked to address them in a very short period of time.
March 26, 2008
SECRETARY OF TREASURY HENRY M. PAULSON JR.: Thank you for inviting me to address your Capital Markets Competitiveness Conference. We share a commitment to competitive markets, and Treasury will soon release a Blueprint for Regulatory Reform that proposes a financial regulatory framework which we believe will more effectively promote orderly markets and foster financial sector innovation and competitiveness. As you know, financial market stress began last August and has led to significant de-leveraging and repricing...
July 1, 2011 |
The stand-off between congressional Republicans and the Obama administration over raising a legal limit on how much the nation can borrow has been filled with dire warnings about what will happen if the U.S. government fails to pay its debts. In truth, it could be bad for the economy if global investors even begin to doubt the ability or willingness of U.S. officials to reach agreement on the debt ceiling. The U.S. government can borrow money more cheaply than almost any other entity on Earth, and that...
September 7, 2008 |
Good morning. I'm joined here by Jim Lockhart, Director of the new independent regulator, the Federal Housing Finance Agency, FHFA. In July, Congress granted the Treasury, the Federal Reserve and FHFA new authorities with respect to the GSEs, Fannie Mae and Freddie Mac. Since that time, we have closely monitored financial market and business conditions and have analyzed in great detail the current financial condition of the GSEs ¿ including the...
October 10, 2013
A transcript of Treasury Secreatry Jack Lew's testimony at a Senate Finance Committee hearing on the debt ceiling. Mr. Secretary. LEW: Thank you, Mr. Chairman -- Chairman Baucus, Ranking Member Hatch and members of the committee. I appreciate the opportunity to appear here today, and I appreciate the invitation to discuss the potential impacts of a failure by Congress to increase the debt limit. Congress has an important choice to make for the American people, and Congress alone has the power...
June 28, 2011 |
They say that winners get to write history. Three years after the meltdown of our financial markets, it's clear who is winning and who is losing. Wall Street — arms outstretched in triumph — is racing toward the finish-line tape while millions of American families are struggling to stay on their feet. With victory seemingly in hand, the historical rewrite is in full swing. The contrast in fortunes between those on top of the economic heap and those buried in the rubble couldn't be starker.