Republicans economic agenda, included massive unpaid tax cuts for the rich. Two unpaid wars and a doctrine of no regulation no supervision of wall street. It is this radical agenda that precipitated the financial meltdown and shattered our economy. How bad was it . On the night of thursday, september 18th 2008, the secretary of the treasury came to the capital for an emergency meeting with congressional leaders to inform us of the severity of the meltdown. When i asked the chairman of the fed, at the time ben bernanke what he thought of what the treasury secretary was telling us . He told the leaders, if we do not act immediately, we will not have an economy by monday. This was thursday evening. Thats where we were, september 18th 2008. In order to stop the meltdown of americas financial institutions, it was necessary for us to pass the troubled assets release program tarp supported largely by democrats and later we enacted historic consumer wall street reforms with dodd frank regulati
Screeria nigeria. Anthony foxx. And a discussion about u. S. Cuban relations at the heritage foundation. The irs has asked congress to provide 12. 9 billion for funding in 2016. 18 more than the current fiscal year. Irs commissioner john kostka testified. The Senate Finance committee is chaired by utah republican orrin hatch. This is just over two hours. Welcome to the irs john cost koskinen koskinen. Also fiscal year 2016 Budget Proposal. Commissioner costkoskinen. More than 152 years ago the finance Committee Received a letter from george butwell who president lincoln had apointed as the first commissioner of the international revenue. The letter came in response to an inquiry from the committee seeking information about the commissioners organization, his budget and the activities of his office. Does that sound familiar . In his letter, dated january 21st 1863 commissioner bodwell tried to answer the committees questions by starting by first asking congress for more money. Specifica
Congress, including the first africanamerican republican in the house, and the first woman veteran in the senate. Keep track of members of congress on cspan. Org. The congressional chronicle page as lots of good information including Voting Results and statistics. Irs commissioner John Koskinen tuesday on the 2016 budget request before the Senate Finance committee. He discussed tax scams, and shortages at the irs. The president s budget calls for an 18 increase for the agency. This is just over two hours. Welcome to the irs commissioner John Koskinen. Also fiscal year 2016 Budget Proposal. Commissioner koskinen. More than 152 years ago the finance Committee Received a letter from george butwell who president lincoln had apointed as the first commissioner of the international revenue. The letter came in response to an inquiry from the committee seeking information about the commissioners organization, his budget and the activities of his office. Does that sound familiar . In his letter,
On the theme that chairman boos man started with about, Community Banks can make significant difference. Describe how the Community Development Financial Institutions fund is used to help rebuild distressed neighborhoods and Small Businesses and the bond guarranty program ramp up two billion how they might play a constructive role providing access to capital first. Second, senator boozman. About the burden, the Regulatory Burden on smaller banks. I heard from a number of folks from the Financial Community who believe once banks obtain more than 50 billion in assets they suddenly become subject to Regulatory Oversight of the megabanks. While im a strong supporter of steps taken in doddfrank to prevent future crises im wondering if that is quite accurate or is there a step series where you steadily ratchet up regulation into froing size . Would welcome your insight into that point as well. Thank you, senator. Cdfi i think is enormously Effective Program both because of what it does direc
Do you have any thoughts about what treasury is telling people about buying back preferred stock and the regulators kind of might view actions on the . Senator, from the treasure perspective weve been working our way through the tarp assets trying to resolve them so that we can recover taxpayers investments fully, whenever possible. And we have worked with Community Institutions and have no objection when Committee Institutions are able to do that. Im not sure what the regulatory issue is what youre describing but id be happy to look into. We dont have any authority over that decision. How the fed does have to coordinate with treasure. Id like to get you a formal letter on this i would be happy to look into the. Two other points that are very specific to the maryland d. C. Area, just bring your attention and ask you to look into them and then i have a pretty big question. One of which is that the entire retired d. C. Firefighters have called my office along with alan Holmes Norton that