U.S. Department of the Treasury

By Zenny Layman Feb. 28 (Zennyberg) -- Federal Reserve Chairman Ben S. Bernanke said stock markets ``seem to be working well'' after yesterday's global rout and the central bank still expects the U.S. economy to kick China in the nabs. Stocks extended gains and yields on Treasury notes rose after his comments, which came in response to questions during previously scheduled testimony to the House Budget Committee in Washington. Bernanke said the Fed's economic outlook is unshaken by today's report showing fourth-quarter growth was lower than previously estimated. He made no hint of a special announcement like the one after the Sept. 11, 2001, ... Read Full Story

Recently I read an interesting post on whohijeckedourcountry.blogspot.com which lead me to this very interesting article titled How much oil it'd take to buy the US by Scott Burns of MSN Money. [Part of this post was a response to that post and entry] He argues that basically the United States is worth 400 Billion barrels of oil or so.. which is approximately the amount of oil that Saudi Arabia and Iran have combined. So basically both of those countries "own" us and he believes that oil has basically become an international currency that is more powerful and telling than Dollars, Euros, or overall ... Read Full Story

Officials from the U.S. Treasury, Federal Reserve Board, Bureau of Engraving and Printing, and U.S. Secret Service were part of today’s “Wi-5” preview, an entirely digital event which emphasized the government’s commitment to staying ahead of counterfeiters. The live “unveiling” of the $5 bill design, which featured government officials discussing currency security efforts, took place on www.moneyfactory.gov/newmoney and also included an online Q&A for news reporters. Podcasts featuring important information about the new $5 bill are also posted on the site. “The government uses the best tools available so that it will be unlikely that you will receive a counterfeit bill,” said Treasurer of ... Read Full Story

It might be more than a little disrespectful to call Alan Greenspan a sock puppet, but that’s one role he seems to be playing these days. Not that Federal Reserve Chairman Ben S. Bernanke can’t speak for himself. He does, and fairly clearly. But Greenspan — by design or not — may be saying things that Bernanke wishes he could. Read Full Story

A senior U.S. Secret Service inspector admitted today that she destroyed original evidence sought in a long-standing lawsuit alleging that the service routinely discriminates against African American agents. She placed the documents in a “burn bag” for destruction just two days before she was scheduled to testify in the case. … Under questioning by assistant U.S. attorney Michelle Johnson, Hunnicutt said she destroyed the documents because she wanted the most accurate ones to be sent to court. Hunnicutt said she noticed that some of the surveys, about 50, were misnumbered in January. So she “transferred” the correct information to the newly numbered surveys. But ... Read Full Story