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BUSINESS
July 30, 2011 | By Martin Crutsinger, Associated Press
WASHINGTON - Executives from 20 of the country's biggest banks met with U.S. Treasury officials Friday to discuss how debt auctions will be handled if Congress fails to raise the government's borrowing limit before Tuesday's deadline. Those banks serve as primary dealers for the sale of Treasury securities. Treasury provided no details of how the government would decide which of its bills to pay should the borrowing limit not be raised. In a statement, the department said Friday's meeting was to prepare for an upcoming quarterly debt auction.
NEWS
July 19, 2011
The U.S. Treasury Department named a director to Royal Bancshares of Pennsylvania Inc.'s board Tuesday, after the Narberth-based bank missed six dividend or interest payments on its preferred stock. Treasury appointed Gerard M. Thomchick, who has more than 25 years' experience in Pennsylvania banking. At First Commonwealth Financial based in Indiana, Pa., Thomchick was chief operating officer and senior executive vice president, as well as president and chief executive officer of a subsidiary bank.
NEWS
January 24, 1991 | By Russell E. Eshleman Jr., Inquirer Harrisburg Bureau
Two years after taking office, State Treasurer Catherine Baker Knoll yesterday fulfilled a promise of bolstering her department's code of conduct, issuing a revised ethical guide that deals with everything from political donations to moonlighting. Developed by former federal prosecutor Gregory T. Magarity, a prominent Philadelphia lawyer, the code prohibits Treasury's 330 employees from accepting gifts from firms with whom the department conducts business or companies seeking to do business with the department.
BUSINESS
May 23, 1986 | By Larry Fish, Inquirer Staff Writer
The U.S. Treasury has come up with a plan to save millions of dollars, although it will cost some of the department's heroes a bit of their immortality. Simply put, beginning in July, the Treasury will stop issuing the notes, bonds and bills it now sells at regular auctions. T-bills are sold each week with maturities of either three or six months; notes have maturities of up to 10 years, and bonds are for 10 or more years. They all represent government IOUs to the purchaser.
BUSINESS
April 3, 1990 | By Glenn Burkins, Inquirer Staff Writer
Beginning yesterday, people who buy U.S. savings bonds in eastern Pennsylvania will have to wait for up to three weeks before they are delivered. The U.S. Treasury has changed the way bonds are purchased from banks and other financial institutions. Instead of receiving the bonds directly at the time of purchase, customers now must fill out forms and have the bonds mailed to them within 15 working days. The Regional Delivery System first was tested in Ohio in 1987, and Western Pennsylvania was added last June.
NEWS
May 26, 1995 | By Emilie Lounsberry, INQUIRER STAFF WRITER
A former federal prosecutor in Philadelphia has been slated for a job in the Clinton administration as an assistant Treasury secretary, a position that will put him at the forefront of such issues as the Branch Davidian assault in Waco and the bombing of the federal building in Oklahoma City. Richard L. Scheff, 38, of Center City, has been tapped to become assistant secretary for enforcement. If his selection is confirmed, he would be in charge of the Secret Service; the Bureau of Alcohol, Tobacco and Firearms; the U.S. Customs Service; and the Federal Law Enforcement Training Center in Georgia.
ENTERTAINMENT
July 31, 1995 | By Julia M. Klein, INQUIRER STAFF WRITER
The city's oldest museum, the New-York Historical Society, had been closed to the public since 1993. It was flirting with irrelevance and even extinction. The society's carefully contrived survival plan - which included the deaccessioning in January of 180 Old Master paintings - sparked a wave of controversy and condemnation. After receiving $16 million from the sale and $10 million in state and city funds for renovations, the society - repository of some 6 million items ranging from the Declaration of Independence to a 19th-century ceramic roach trap - was still desperately short of money.
NEWS
March 28, 2001 | By Eugene Kiely INQUIRER TRENTON BUREAU
In an unprecedented move to defuse the controversy surrounding his choice for state treasurer, acting Gov. Donald T. DiFrancesco yesterday allowed ranking members of the state Senate Judiciary Committee to review the state-police background check of Isabel Miranda. The committee had been scheduled to take up Miranda's nomination Monday, but its chairman, Sen. William Gormley (R., Atlantic), postponed the hearing after a published report said a former employer, Citibank, had fired Miranda for misusing company funds.
NEWS
January 18, 2005 | By Larry Eichel INQUIRER STAFF WRITER
For those of you wondering whether there is such a thing as the Social Security Trust Fund, let us call your attention to the H.J. Hintgen Building, corner of Second and Avery, in Parkersburg, W.Va. That's where the fund resides, in a drawer of a locked gray file cabinet, monitored by the Office of Public Debt Accounting, Bureau of Public Debt, U.S. Department of the Treasury. The fund's holdings consist of 225 pieces of paper, each one representing Special Issue U.S. Treasury Bonds in multibillion-dollar denominations, $1.76 trillion in all. Those pieces of paper aren't actual bonds; the real ones exist only in electronic form.
NEWS
August 11, 2006 | By Toni Callas INQUIRER STAFF WRITER
Six state Treasury officials, including the Division of Taxation director and deputy director, were charged yesterday with accepting thousands of dollars worth of dinners, spa treatments, golf outings and other entertainment from a company the state hired to collect unpaid taxes. OSI Collection Services lavished the officials with more than $65,000 in gifts, according to a 42-count indictment. Meanwhile, since 2000, the company padded bills to the state by more than $1 million, according to the State Commission of Investigation.
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ARTICLES BY DATE
BUSINESS
May 17, 2016
4-week bills , May 17 ; 3-month, 6-month bills , May 16; 1-year bills , May 24; 2-year notes , May 24; 3-year notes , June 7 ; 5-year notes , May 25; 7-year notes , May 26; 10-year notes , June 8; 30-year notes , May 12; 5-year TIPS , Aug. 18; 10-year TIPS , May 19; 30-year TIPS , Jun. 23. Business Referral Luncheon Presented by BNI, King of Prussia chapter. Peppers Italian Restaurant, 236 Town Center Rd., King of Prussia; 610-792-2105. Reservations required. 11:30 a.m.-1 p.m. Networking Meeting Presented by BNI, Fort Washington chapter.
BUSINESS
May 10, 2016
4-week bills , May 10 ; 3-month, 6-month bills , May 9; 1-year bills , May 24; 2-year notes , May 24; 3-year notes , May 10 ; 5-year notes , May 25; 7-year notes , May 26; 10-year notes , May 11; 30-year notes , May 12; 10-year TIPS , May 19; 30-year TIPS , Jun. 23. Business Referral Luncheon Presented by BNI, King of Prussia chapter. Peppers Italian Restaurant, 236 Town Center Rd., King of Prussia; 610-792-2105. Reservations required. 11:30 a.m.-1 p.m. Networking Meeting Presented by BNI, Fort Washington chapter.
NEWS
March 5, 2016 | By Diane Mastrull, Inquirer Staff Writer
The Pennsylvania Treasury Department will feature a Shark Tank record-setter at its inaugural Small Business Initiative (SBI) event on March 11 at Drexel University's Bennett S. LeBow College of Business. Gregory Coleman, cofounder and COO of Nexercise Inc., the Rockville, Md.-based fitness company whose latest product is the Sworkit app, will be the keynote speaker at the half-day SBI workshop series. On a February episode of Shark Tank , Coleman and Nexercise partner Ben Young scored the show's largest deal for a tech product - $1.5 million from investor Mark Cuban.
NEWS
October 16, 2013 | BY WILL BUNCH, Daily News Staff Writer bunchw@phillynews.com, 215-854-2957
UNLESS YOU'RE a veteran of the War of 1812 - and U.S. life expectancy hasn't risen that much - then you don't know what it's like when America doesn't have the ability to pay its debts. And, hopefully, you'll never find out. Democrats and Republicans in the Senate were said to be hammering out a deal last night that would not only reopen the federal government, but also raise the so-called debt ceiling to America's bill-payers to save us from default. But default is still a very real possibility.
BUSINESS
July 3, 2013 | By Martin Crutsinger, Associated Press
WASHINGTON - The federal government said Monday that it has received $66.3 billion in dividend payments from Fannie Mae and Freddie Mac after both reported stronger earnings at the start of the year. Fannie Mae has paid $59.4 billion to the U.S. Treasury and Freddie Mac has paid $7 billion. The payments reflect a housing recovery that has made the mortgage giants profitable again. They are also helping to lower their year's federal deficit. The government rescued Fannie and Freddie during the 2008 financial crisis after both incurred massive losses on risky mortgages.
NEWS
May 24, 2013 | By Philip Elliott, Associated Press
WASHINGTON - Dismissing a veto threat from President Obama, lawmakers in the House passed legislation that links student loan rates to the ups and downs of the financial markets in a vote largely along party lines. The Republican-backed bill would allow students to dodge a scheduled rate hike for students with new subsidized Stafford loans next month, but rates could rise in coming years. Democrats largely opposed the measure - which they branded the "Making College More Expensive Act" - while the Republican chairman of the Education Committee labeled the legislation a starting point for negotiations with the Senate and White House.
NEWS
February 28, 2013 | By Martin Crutsinger, Associated Press
WASHINGTON - The Senate Finance Committee on Tuesday approved President Obama's choice of Jacob Lew to be Treasury secretary and sent the nomination to the full Senate. Lew would succeed Timothy Geithner, who completed a tumultuous four-year term in which he helped lead the administration's response to the financial crisis and recession. The committee approved Lew's nomination, 19-5. The timing of a Senate vote is unclear. During a three-hour confirmation hearing Feb. 13, the sharpest questions came from Republicans who pressed Lew about his tenure at Citigroup, where he was a top executive from 2006 until early 2009, a period covering the height of the financial crisis.
NEWS
February 15, 2013 | By Richard Rubin and Kasia Klimasinska, Bloomberg News
WASHINGTON - Jack Lew, the nominee for Treasury secretary, said he was not aware that a personal investment involved a fund in the Cayman Islands and said he lost money when he sold the holding. Lew, selected by President Obama last month to succeed Timothy Geithner, responded to senators' questions about the investment and his work at Citigroup Inc. as he testified at his confirmation hearing before the Senate Finance Committee on Wednesday. Committee Chairman Max Baucus (D, Mont.)
NEWS
February 14, 2013 | By Claudia Vargas, Inquirer Staff Writer
Holding signs reading "No Garden? No Fresh Food," "Where Will We Go?", and several that read, "Save the Camden Children's Garden," more than 100 people rallied Tuesday to muster support in the waterfront garden's fight against a March 31 eviction notice from the state. The protesters had planned to march from the garden to City Hall, but were spared that trip. Mayor Dana L. Redd and several City Council members went to the rally to add support. The garden, Redd and others said, must stay where it is. "We have our challenges," Redd said, listing education, public safety, and others.
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