By: Andrea Risotto
Thursday, March 29, 2012
Last week, the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) traveled to Los Angeles and Sacramento to host free events for almost 1,800 California homeowners through the Making Home Affordable Program. To date, Treasury and HUD have hosted 67 free homeowner events across the country — including 14 in the Golden State.
Posted in: Making Home Affordable
By: Erika Gudmundson
Wednesday, March 28, 2012
Last week, President Barack Obama announced the nomination of Dr. Jim Yong Kim to be President of the World Bank. A physician and anthropologist, Dr. Kim co-founded Partners In Health, which provides community-based healthcare to break the cycles of disease and poverty in nations around the world. As Director of the World Health Organization's Department of HIV/AIDS, Dr. Kim launched the "3 by 5" initiative, which sought to treat 3 million patients living with HIV. He was the Chair of the Department of Global Health and Social Medicine at Harvard Medical School, and, for the last three years, has lead one of the world's great knowledge institutions, serving as the President of Dartmouth College.
Posted in: International
By: Erika Gudmundson
Wednesday, March 28, 2012
In an op-ed to be published in the March 29, 2012 edition of the Financial Times, President Obama’s nominee to the World Bank presidency, Dr. Jim Yong Kim, discusses the challenges and opportunities the World Bank faces today in poverty reduction and development assistance for global economic growth.
Posted in: International
By: Dr. Jan Eberly and Aaron Klein
Tuesday, March 27, 2012
As President Barack Obama said in his weekly address this weekend, “So much of America needs to be rebuilt right now. We’ve got crumbling roads and bridges. A power grid that wastes too much energy. An incomplete high-speed broadband network. And we’ve got thousands of unemployed construction workers who’ve been looking for a job ever since the housing market collapsed. […] Right now, all across this country, we’ve got contractors and construction workers who have never been more eager to get back on the job. A long-term transportation bill would put them to work. And those are good jobs. We just released a report that shows nearly 90 percent of the construction, manufacturing, and trade jobs created through investments in transportation projects are middle-class jobs. Those are exactly the jobs we need right now, and they’ll make the economy stronger for everybody.”
Posted in: Economic Policy
By: Jonathan Sokobin
Monday, March 26, 2012
A key part of the mission of the Office of Financial Research (OFR) is to promote best practices in financial risk management. Today, in the second paper of its Working Paper Series, the OFR issued a paper that provides a broad assessment of risk management practices and how risk management can be improved: Forging Best Practices in Risk Management.
Posted in: Office of Financial Research, Wall Street Reform
By: Kimberly Beauman
Monday, March 26, 2012
Amid rising gas prices and auto loans with high interest rates, affordable transportation can seem out of reach for families struggling to make ends meet. Ways to Work, a national non-profit and certified Community Development Financial Institution (CDFI), addresses that problem directly with a program that combines low-cost loans for cars with financial literacy education for borrowers. The two-pronged approach places loan recipients in a good position to improve their credit and stabilize their financial prospects.
Posted in: CDFI
By: Erika Gudmundson
Thursday, March 22, 2012
In addition to the various in-person and online tools provided by the IRS, there are a number of ways to get tax tips this year as you prepare your tax return. Check out these helpful social media tools from the IRS.
Posted in: IRS
By: Erika Gudmundson
Wednesday, March 21, 2012
Appearing today in The Wall Street Journal, Assistant Secretary of the Treasury for Financial Markets Mary Miller responded to a March 12 editorial “Uncle Sam’s Teaser Rate.”
Posted in: Debt Management
By: Erika Gudmundson
Tuesday, March 20, 2012
This morning, in a statement marking Nowruz, President Barack Obama said, “From Facebook to Twitter - from cell phones to the Internet - our people use the same tools to talk to one another, and to enrich our lives. Yet increasingly, the Iranian people are denied the basic freedom to access the information that they want."
Posted in: Financial Sanctions; Terrorism and Illicit Finance
By: Matt Anderson
Monday, March 19, 2012
Today, the U.S. Department of the Treasury announced the completion of the orderly wind down of its agency-guaranteed mortgage-backed securities (MBS) portfolio, which it acquired as part of its response to the financial crisis. Overall, Treasury’s MBS portfolio generated a positive return of $25 billion for taxpayers.
Posted in: Mortgage-backed Securities
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