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The Economic Club of New York 431 Meeting 106 Year September 9, 2013 the Honorable Henry M
The Economic Club of New York 431st Meeting 106th Year September 9, 2013 ___________________________________ The Honorable Henry M. Paulson, Jr. Former U.S. Secretary of the Treasury Chairman of the Paulson Institute ___________________________________ Questioners: Andrew Tisch Former Chair of the Economic Club of New York Co-Chair of Loews Corporation Floyd Norris Chief Financial Correspondent, The New York Times The Economic Club of New York – Henry M. Paulson, Jr., – September 9, 2013 Page 1 Roger Ferguson: Well, good afternoon everyone. I would encourage all who have not yet done so to please take your seats so that we can get started with our program. And let me start by welcoming all of you to this, the 431st meeting of the Economic Club of New York. I am Roger Ferguson. I am the chairman of the club which is now in its 106th year as the nation’s leading non-partisan forum for economic policy speeches. Throughout the long history of the Economic Club of New York, we’ve had more than 1,000 guest speakers appear before us establishing a strong tradition of excellence which we continue today. I would like to begin by recognizing the 200 members of our Centennial Society who have contributed their support to the club to ensuring its continued financial stability. Thanks to all of you for helping to ensure the club can continue to fulfill its mission well into the next century. I would also like to welcome the students who are with us and to thank our members for making their attendance possible. -
Finding Aid to the Historymakers ® Video Oral History with the Honorable Alphonso Jackson
Finding Aid to The HistoryMakers ® Video Oral History with The Honorable Alphonso Jackson Overview of the Collection Repository: The HistoryMakers®1900 S. Michigan Avenue Chicago, Illinois 60616 [email protected] www.thehistorymakers.com Creator: Jackson, Alphonso Title: The HistoryMakers® Video Oral History Interview with The Honorable Alphonso Jackson, Dates: August 3, 2007 Bulk Dates: 2007 Physical 6 Betacame SP videocasettes (2:57:27). Description: Abstract: Cabinet appointee The Honorable Alphonso Jackson (1945 - ) served as the nation’s thirteenth United States Secretary of Housing and Urban Development. Jackson was interviewed by The HistoryMakers® on August 3, 2007, in Washington, District of Columbia. This collection is comprised of the original video footage of the interview. Identification: A2007_225 Language: The interview and records are in English. Biographical Note by The HistoryMakers® Cabinet appointee Alphonso Jackson was born on September 9, 1945 in Marshall, Texas to Henrietta and Arthur Jackson and grew up in South Dallas as one of twelve children. Jackson learned the value of education and the importance of strong work ethic from his parents. He attended both Lincoln University in 1965 and A&M Commerce in 1966 on track scholarships before receiving his B.A. degree in political science from Northeast Missouri State University in 1968. In 1973, Jackson received his J.D. degree from Washington University School of Law. Jackson's career began in 1973 as an assistant professor at the University of Missouri, St. Louis. From 1977 through 1981, Jackson became the Director of Public Safety for the City of St. Louis, Missouri. He also served as a director of consultant services for the certified public accounting firm, Laventhol and Horwath in St. -
Editorial IE 6 08.Indd
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Appelbaum, Eileen Article — Published Version The Obama moment Intereconomics Suggested Citation: Appelbaum, Eileen (2008) : The Obama moment, Intereconomics, ISSN 0020-5346, Springer, Heidelberg, Vol. 43, Iss. 6, pp. 314-315, http://dx.doi.org/10.1007/s10272-008-0265-8 This Version is available at: http://hdl.handle.net/10419/42015 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu DOI: 10.1007/s10272-008-0265-8 The Obama Moment he election of Barack Obama on November 4 to serve as the next president of the USA Twas a triumph of hope over history for America. In these perilous times we, along with millions in other lands, have pinned our hopes for the future on the intellect, inspiration and compassion of this gifted leader. -
President's Advisory Council on Financial Literacy
President’s Advisory Council on Financial Literacy A D V I S O ’ S R T Y N C E O D U I N S C E I R L P O Y N C A F R I N E A I T N C I A L L 2008 Annual Report to the President President’s Advisory Council on Financial Literacy “ We want people to own assets; we want people to be able to manage their assets. We want people to understand basic financial concepts, and how credit cards work and how credit scores affect you, how you can benefit from a savings account or a bank account. That’s what we want. And this group of citizens has taken the lead, and I really thank them…” “ When we look back at this council…people will say we’re glad that the administration took the action it took because somebody’s life is going to be better as a result of it.” President George W. Bush January 22, 2008 THE DEPARTMENT OF THE TREASURY III President’s Advisory Council on Financial Literacy Members of the President’s Advisory Council on Financial Literacy Charles R. Schwab, Chairman and Founder, The Charles Schwab Corporation, San Francisco, California – Chairman John Hope Bryant, CEO and Founder, Operation HOPE, Los Angeles, California – Vice Chairman Ted Beck, President and CEO, National Endowment for Financial Education (NEFE), Greenwood Village, Colorado Ted Daniels, President and CEO, Society for Financial Education and Professional Development, Arlington, Virginia Vice Admiral Cutler Dawson, President and CEO, Navy Federal Credit Union, Vienna, Virginia Dr. -
Translating Ideas Into Action
DIALOGUE uis Moreno, president of the Inter-Amer- ican Development Bank, strode to the podium at ELI’s annual dinner to intro- duce Henry “Hank” Paulson, former sec- retary of the treasury and chief executive of Goldman Sachs — and winner of the 2016 ELI Award for career achievement in environmental policy. L“He’s a man of big ideas but not just any ideas,” Moreno said. “He wants to translate ideas into action. This is a characteristic that you seldom find, because ideas are easy, realizations are difficult. The world owes a lot to Hank. I come from a region that has had a lot Translating Ideas of financial crises. Hank managed these in a way that not only saved the United States but saved the world. Into Action He did it because of his tenacity, because of his capac- ity to think big, his ability to bring people together to find common ground.” Former banker and Treasury Secretary Following Moreno’s introduction, Paulson took the stage along with Beveridge & Diamond managing HANK PAULSON took the stage at the annual principal Ben Wilson, who was to be Paulson’s inter- dinner and responded to questions about locutor during a dialogue on his long and interesting career. environmental protection in China and Ben Wilson: Secretary Paulson, you have focused environmental policy in the United States on China for many years as an important region for environmental progress. Take a moment please and and internationally. Paulson’s conclusion: tell us why China is important. When did your inter- It takes business, NGOs, and government est in that country first begin? Hank Paulson: As my career progressed at Gold- working together to get things done man Sachs, I wanted to stay in Chicago, and I was finally made co-head of investment banking in that city. -
Federal Government, Pgs. 0103-0126
CHAPTER 3 Federal Government “House Painter” (Missouri State Archives, Putman Collection) 104 OFFICIAL MANUAL Michael Chertoff, Secretary of Homeland Secu- rity; Alphonso Jackson, Secretary of Housing and Urban Development; United States Gale Norton, Secretary of the Interior; Alberto Gonzales, Attorney General; Elaine Chao, Secretary of Labor; Government Condoleezza Rice, Secretary of State; Norman Mineta, Secretary of Transportation; John Snow, Secretary of the Treasury; Executive Branch Jim Nicholson, Secretary of Veterans’ Affairs. The White House In addition to secretaries of the cabinet, the 1600 Pennsylvania Ave., N.W. president maintains a White House staff of advis- Washington, D.C. 20500 ers who serve at his pleasure. Telephone: (202) 456-1414 President Bush’s Executive Officers The president and the vice president of the with Cabinet Rank United States are elected every four years by a majority of votes cast in the electoral college. These Richard B. Cheney, Vice President; votes are cast by delegates from each state who Stephen Johnson, Environmental Protection vote in accordance, traditionally, with the majority Agency; of the state’s voters. States have as many electoral Joshua B. Bolten, Office of Management and college votes as they have congressional delegates. Budget; Missouri has 11 electoral college votes—one for Andrew H. Card Jr., Chief of Staff; each of the nine U.S. Congress districts and two for Rob Portman, U.S. Trade Representative; John Walters, Office of National Drug Control the state’s two seats in the U.S. Senate. Policy. The president is the chief executive of the Unit- ed States, with powers to command the armed Legislative Branch forces, control foreign policy, grant reprieves and The U.S. -
“Paulson Put,” Presidential Politics, and the Global Financial Meltdown Part I: from Shadow Financial System to Shadow Bailout
International Journal of Political Economy, vol. 38, no. 1, Spring 2009, pp. 3–34. © 2009 M.E. Sharpe, Inc. All rights reserved. ISSN 0891–1916/2009 $9.50 + 0.00. DOI 10.2753/IJP0891-1916380101 THOMAS FERGUSON AND ROBER T JOHNSON Too Big to Bail: The “Paulson Put,” Presidential Politics, and the Global Financial Meltdown Part I: From Shadow Financial System to Shadow Bailout Abstract: This paper analyzes how a world financial meltdown developed out of U.S. subprime mortgage markets. It outlines how deregulatory initiatives allowed Wall Street to build an entire line of new, risky financial products out of raw ma- terials the mortgage markets supplied. We show how further bipartisan regulatory failures allowed these same firms to take on extreme amounts of leverage, which guaranteed that when a crisis hit, it would be severe. A principle focus is the “Paulson Put”—the effort by the U.S. Treasury secretary to stave off high-profile public financial bailouts until after the 2008 presidential election. The paper shows how the Federal Home Loan Bank System and other government agencies were successfully pressed into service for this purpose—for a while. Keywords: bank regulation, financial crisis, investment banks, political economy In 2008, a strong whiff of millenarianism crept into American public life. As voters flocked to the primaries in startling numbers, many Democrats became convinced that the Second Coming lay just around the corner. By contrast, sentiment among Thomas Ferguson is a professor of political science at the University of Massachusetts, Boston. Robert Johnson was managing director at Soros Funds Management and chief economist of the U.S. -
The Ben Bernanke and Janet Yellen Investment Portfolios | Seeking Alpha 7/31/15, 5:33 PM
The Ben Bernanke And Janet Yellen Investment Portfolios | Seeking Alpha 7/31/15, 5:33 PM The Ben Bernanke And Janet Yellen Investment Portfolios "I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years" - Warren Buffett When it comes to financial security, one could argue that the chairman of the Federal Reserve Board of Governors would be a great role model to emulate. As an obligation of duty, the chairman and all members of the board are required to disclose their assets and income to the U.S. Office of Government Ethics. U.S. President Barack Obama made it clear that when Ben Bernanke's second term expires on 1-31-2014, there will be a new chairman of which current Vice Chairman of the Board of Governors, Janet Yellen, is the current front-runner. By analyzing their respective investment portfolios, one can gain insight into astute money management techniques as well as their individual stock selections. The Man On February 1, 2006, Ben Bernanke was sworn in as a 14-year term member of the Federal Reserve Board of Governors, as well as Fed Chairman, which was a 4-year term. U.S. President Bush appointed him just before the beginning of the Global Financial Crisis, where Bernanke, along with U.S. Treasury Secretary Henry Paulson and the president of the Federal Reserve Bank of New York Timothy Geithner organized the economic bailout that arguably sidelined a global depression. -
2015 Financial Crisis Forum Agenda
Yale Financial Crisis Forum 2015 Agenda Day 1: Lending 8:00am Registration and Breakfast 8:45 am Welcome and Overview 9:00 am Session 1 & 2: Federal Reserve Lending and Credit Programs in the United States Meg McConnell, SVP & Director, Office of Financial Stability & Regulatory Policy, Federal Reserve Board of New York Patricia Mosser, Senior Research Scholar and senior fellow in international finance at Columbia University; Former Deputy Director for Research & Analysis, Office of Financial Research 10:30 am Break 11:00 am Sessions 1 & 2 continued 12:30 pm Lunch 2:00 pm Session Three: Central Bank Lending Programs, Eurozone Ulrich Bindseil, Director of General Market Operations, European Central Bank 3:30 pm Break 4:00 pm Afternoon Speaker Paul Tucker, Senior Fellow at Harvard Kennedy School and Harvard Business School; Former Deputy Governor of the Bank of England 5:00 pm Adjourn Sponsored by Yale Financial Crisis Forum 2015 Agenda Day 2: Guarantees and Capital 8:00 am Registration and Breakfast 8:30 am Keynote Panel, Timothy Geithner, Former President and CEO of Federal Reserve Bank of New York; Former Secretary of the United States Treasury Ben Bernanke, Economist at Brookings Institution; Former Chairman of the Federal Reserve Hank Paulson, Chairman of the Paulson Institute; Former Treasury Secretary; Former Chairman and CEO of Goldman Sachs 10:00 am Break 10:30 am Session 1: Guarantees David Nason, President and CEO of GE Energy Financial Services; Former Assistant Secretary for Financial Institutions under Treasury Secretary Henry -
2008 ANNUAL REPORT to the PRESIDENT of The
2008 ANNUAL REPORT TO THE PRESIDENT of the PRESIDENT’S ADVISORY COUNCIL ON FINANCIAL LITERACY DRAFT 2 January 6, 2009 The Honorable George W. Bush The Honorable Henry Paulson, Jr. President of the United States Secretary of the Treasury The White House Department of the Treasury 1600 Pennsylvania Avenue NW 1500 Pennsylvania Avenue NW Washington, D.C. 20500 Washington, D.C. 20220 Dear Mr. President, Secretary Paulson, Members of Congress and fellow citizens: On January 22, 2008, President George W. Bush signed an Executive Order creating, for the first time, a President’s Advisory Council on Financial Literacy. The charge was simple, yet daunting: improve financial literacy among all Americans. After an exciting year of work toward this goal, I believe we have made tremendous progress at laying the groundwork for a comprehensive effort to achieve this goal. I am pleased, on behalf of the Council, to present the first Annual Report to the President, which details the progress we made this year and outlines a series of recommendations for future initiatives that will help the country achieve the level of financial literacy that is imperative in today’s global economy. We believe the market turmoil and credit crisis of 2008 underscore the critical need for improved financial literacy in the United States. While there are many causes to the economic problems facing the country, it is undeniable that a lack of financial literacy is a contributing factor. Far too many Americans entered into home and other loan agreements that they did not understand and ultimately could not afford. More broadly, the lack of basic skills such as how to create and maintain a budget, understand credit, or save for the future are preventing millions of Americans from taking advantage of our vibrant economic system. -
Wealth of Trump Nominees Complicates Their Approval By
Wealth of Trump Nominees Complicates Their Approval By Rebecca Ballhaus 27 December 2016 The Wall Street Journal J A1 English Copyright 2016 Dow Jones & Company, Inc. All Rights Reserved. The concentration of wealth among president-elect Donald Trump's nominees is setting up an arduous and expensive Senate confirmation process that could slow implementation of the White House agenda. The Republican has so far appointed five billionaires and half a dozen multimillionaires to serve in his administration. To win confirmation, they will be required to disclose their financial holdings and divest themselves of any assets that could present a potential conflict of interest with their new posts. While the process may not hurt the nominees' chances of winning Senate approval, it could eat time that prevents the Trump administration from hitting the ground running. For months after President Barack Obama took office in 2009, important posts in the Treasury department remained vacant -- in the throes of the financial crisis -- as candidates were vetted by the Senate. Mr. Trump's picks for his cabinet so far have a collective net worth of close to $10 billion, according to a Wall Street Journal analysis of Forbes magazine's net-worth estimates and financial-disclosure data. Ethics officials "have some experience with people with very complicated financial situations, but that's not the norm," said Steven Rattner, a multimillionaire who in 2009 spent $400,000 on legal fees to prepare for accepting a position in the Treasury department. "Most people in the government are not people with the kind of wealth of the Trump people." History suggests the president-elect's team will have its work cut out. -
George W. Bush Presidential Records in Response to the Freedom of Information Act (FOIA) Requests and Appeal Listed in Attachment A
VIA EMAIL (LM 2015-060) July 6, 2015 The Honorable W. Neil Eggleston Counsel to the President The White House Washington, D.C. 20502 Dear Mr. Eggleston: In accordance with the requirements of the Presidential Records Act (PRA), as amended, 44 U.S.C. §§2201-2209, this letter constitutes a formal notice from the National Archives and Records Administration (NARA) to the incumbent President of our intent to open George W. Bush Presidential records in response to the Freedom of Information Act (FOIA) requests and appeal listed in Attachment A. This material, consisting of 19,184 pages, 229 assets, one audio clip, and one video clip, has been reviewed for the six PRA Presidential restrictive categories, including confidential communications requesting or submitting advice (P5) and material related to appointments to federal office (P2), as they were eased by President George W. Bush on November 15, 2010. These records were also reviewed for all applicable FOIA exemptions. As a result of this review, 8,447 pages and 108 assets in whole and 1,193 pages and 21 assets in part have been restricted. Therefore, NARA is proposing to open the remaining 9,544 pages, 100 assets, one audio clip, and one video clip in whole and 1,193 pages and 21 assets in part that do not require closure under 44 U.S.C. § 2204. A copy of any records proposed for release under this notice will be provided to you upon your request. We are also concurrently informing former President George W. Bush’s representative, Tobi Young, of our intent to release these records.