Advertisement
HomeCollectionsTreasury Department
IN THE NEWS

Treasury Department

FIND MORE STORIES ABOUT:
FEATURED ARTICLES
NEWS
October 2, 2014
I was amused at how the Secret Service combed the White House property after a deranged man scaled the fence and gained entry. In a whimsical way it reminded me of the annual Easter egg hunt held on the White House grounds. It was a very lame way to attempt to save face after such an embarrassing episode. The Secret Service has been in a downward spiral ever since it fell under the auspices of Homeland Security. Until the supposedly elite entity is returned to the Department of the Treasury, we should probably expect more of the same antics at the White House.
ARTICLES BY DATE
NEWS
October 2, 2014
I was amused at how the Secret Service combed the White House property after a deranged man scaled the fence and gained entry. In a whimsical way it reminded me of the annual Easter egg hunt held on the White House grounds. It was a very lame way to attempt to save face after such an embarrassing episode. The Secret Service has been in a downward spiral ever since it fell under the auspices of Homeland Security. Until the supposedly elite entity is returned to the Department of the Treasury, we should probably expect more of the same antics at the White House.
Advertisement
BUSINESS
By Eileen Ambrose, The Baltimore Sun | September 11, 2013
The Treasury Department announced it intends to sell securities of six banks, including Severn Bancorp Inc. of Annapolis, as it winds down the Troubled Asset Relief Program. TARP was created five years ago to stabilize the country's financial system during the financial crisis. The government provided banks with capital in exchange for dividend-paying preferred stock. Severn, the parent of Severn Savings bank, received nearly $23.4 million, but is behind on six dividends payments totaling $1.75 million, according to a Treasury report released this week.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | October 9, 2013
Until recently, the markets largely ignored the political jockeying over whether to raise the federal debt ceiling, figuring there's no way Congress would purposely default on the nation's obligations and potentially throw the U.S. economy into another recession. But as the Oct. 17th deadline approaches with no resolution in sight, markets are getting nervous. Rates on Treasury bills have been rising. The Dow Jones industrial average gave up 296 points, or nearly 2 percent, early this week, but rose slightly Wednesday with the nomination of Janet Yellen to lead the Federal Reserve.
NEWS
By Jacques Kelly, The Baltimore Sun | April 26, 2010
Kenneth Edward Carfine, a Treasury Department official, died of cancer Friday at the Gilchrist Hospice Care. He was 60 and lived in Woodbine. Born in Baltimore and raised in Catonsville, he was a 1967 Mount St. Joseph's High School graduate. He earned a bachelor's degree in accounting at the University of Baltimore. In 2007, he was named the Treasury Department's fiscal assistant secretary. He was administered the oath of office by Treasury Secretary Henry M. Paulson Jr. in the historic Cash Room in Washington.
NEWS
By John Fairhall and John Fairhall,Evening Sun Staff | December 10, 1991
WASHINGTON -- The "Conscience Fund" began in 1811, when James Madison's administration received $5 from someone who said he had defrauded the government.Guilt money has been dribbling into the U.S. Treasury ever since -- more than $6.5 million in all.Most donors, including the first, have been anonymous. But they often include letters that admit to some offense -- however small -- against the government."Please accept this money for two postal stamps I re-used," wrote one person.Another individual felt obliged to pay a penalty: "About eight years ago I took from a railroad station an item worth about $25 and this has been on my conscience since, so I'm enclosing $50 to clear my conscience."
NEWS
By DALLAS MORNING NEWS | January 1, 1999
WASHINGTON -- Jan. 2, 1999, was a worrisome date for 32 million Americans: the day the government was to have eliminated paper checks for federal benefit recipients.Not to worry. The check is in the mail.The Federal Debt Collection Improvement Act, passed two years ago, set tomorrow as the day when all benefit payments were to be made through direct deposit.Stung by complaints, the Treasury Department changed direction.``It's a date without real significance,'' said Don Hammond, the Treasury Department's fiscal assistant secretary.
BUSINESS
By Leslie Cauley | July 16, 1991
American Telephone & Telegraph Co. has won a $1.4 billion contract from the Treasury Department to provide computers, workstations and software to the Internal Revenue Service, AT&T said yesterday.The computer contract, one of the largest awarded by the federal government, calls for AT&T to provide 3,200 computers and 50,000 workstations based on the UNIX operating system.Though the contract is aimed at the IRS, other Treasury offices, such as the Customs Service, may also buy equipment under the contract, AT&T said.
NEWS
By Los Angeles Times | August 19, 1994
WASHINGTON -- Jean Hanson, the Treasury Department's general counsel, who was caught up in the Whitewater scandal, resigned yesterday, becoming the second senior Treasury official in two days to resign as a result of the controversy.Separately, Clinton administration sources said the long-stalled nomination of lawyer Ricki Tigert to be chairwoman of the Federal Deposit Insurance Corp. also seems to be in jeopardy as a result of the congressional furor over Whitewater.Ms. Tigert was first nominated to be one of the nation's top banking regulators by President Clinton in November 1993, and the Senate Banking, Housing and Urban Affairs Committee voted to confirm her in February.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | September 7, 2013
Lester A. Houck, a retired Treasury Department worker who was the oldest member of Wesley United Methodist Church, died Aug. 16 of liver failure at Vir-Les, his Westminster farm. He was 101. The son of farmers, Lester Adelbert Houck was born on the Carroll County farm that has been in his family since 1863, and where he lived his entire life. He was a 1927 graduate of Westminster High School and attended what was then Western Maryland College for a year, before returning to help operate the family farm.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | September 11, 2013
The Treasury Department announced it intends to sell securities of six banks, including Severn Bancorp Inc. of Annapolis, as it winds down the Troubled Asset Relief Program. TARP was created five years ago to stabilize the country's financial system during the financial crisis. The government provided banks with capital in exchange for dividend-paying preferred stock. Severn, the parent of Severn Savings bank, received nearly $23.4 million, but is behind on six dividends payments totaling $1.75 million, according to a Treasury report released this week.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | September 7, 2013
Lester A. Houck, a retired Treasury Department worker who was the oldest member of Wesley United Methodist Church, died Aug. 16 of liver failure at Vir-Les, his Westminster farm. He was 101. The son of farmers, Lester Adelbert Houck was born on the Carroll County farm that has been in his family since 1863, and where he lived his entire life. He was a 1927 graduate of Westminster High School and attended what was then Western Maryland College for a year, before returning to help operate the family farm.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | March 21, 2013
Peter P. Belz Jr., a retired U.S. Treasury Department appeals officer, died March 14 of pancreatic cancer at Gilchrist Hospice Care in Towson. He was 71. The son of a die maker and a homemaker, Peter Paul Belz Jr. was born in Baltimore and raised on Keswick Road in Hampden. After graduating in 1959 from Mount St. Joseph High School in Irvington, he earned a bachelor's degree in business administration and accounting in 1963 from what is now Loyola University Maryland. Mr. Belz began his career in 1963 as an Internal Revenue Service agent in the audit office and later was promoted to a field agent.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 30, 2013
The Treasury Department announced Wednesday that it raised $191.3 million in its latest auction of TARP securities, including $5.8 million for its stake in Delmar Bancorp in Salisbury. The Troubled Asset Relief Program was created more than four years ago to infuse cash into banks at a time when the country's financial system was near collapse. In exchange for cash, the government received securities from banks that paid dividends and interest. The government is winding down the TARP program, and this latest auction is the first in which securities were sold at banks that were behind in payments.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | December 18, 2012
The Treasury Department said Tuesday that it would auction off securities it acquired in 53 banks, including two in Maryland. The government acquired these preferred shares and subordinated debt positions as part of the Trouble Asset Relief Program, which was created four years ago to prevent a widespread collapse of the financial system. Under TARP, the government provided banks with capital in exchange for interest-paying securities. Now that the Treasury is winding down TARP, the government has been auctioning off the bank securities.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | November 16, 2012
Delmar Bancorp has no regrets about taking a $9 million investment from the federal Troubled Asset Relief Program, even though some banks have rushed for the exit. "We did it as an abundance of caution," said Ed Thomas, president of the parent of Bank of Delmarva, which serves the still-struggling Eastern Shore. "I'm glad we did it because we didn't know how deep the financial downturn was going to be. " TARP provided capital at an attractive price, he said. Created four years ago as the country's financial system teetered on the verge of collapse, TARP provided more than 700 banks with a combined $205 billion of capital by buying dividend-paying preferred shares.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | December 18, 2012
The Treasury Department said Tuesday that it would auction off securities it acquired in 53 banks, including two in Maryland. The government acquired these preferred shares and subordinated debt positions as part of the Trouble Asset Relief Program, which was created four years ago to prevent a widespread collapse of the financial system. Under TARP, the government provided banks with capital in exchange for interest-paying securities. Now that the Treasury is winding down TARP, the government has been auctioning off the bank securities.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | February 6, 2012
Until recently, retirement planning focused mostly on helping workers accumulate savings. Now, the Treasury Department is tackling another aspect: making sure retirees don't run out of money. The department last week proposed two regulations to make it easier for workers to get annuities through their workplace plans. With an annuity, workers can make a lump-sum payment to an insurance company and in exchange get an income stream for life. Outliving savings is a serious risk, and a fear of many retirees.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | September 5, 2010
Most of us are familiar with the food pyramid, the government's guideline for healthful eating. Now imagine a "money pyramid" for healthy finances. The Treasury Department is working on such a teaching tool right now, and it's seeking public input this week on what money maxims should be included. The agency wants your opinion on its proposed list of what adults need to know about five key areas of finance — earning, spending, saving, borrowing and protecting against risk. The goal is to put those concepts in an easy-to-remember format that can be used by financial education programs across the country — and to help us all make more informed decisions.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.