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Wed Nov 25, 2020, 04:01 AM

Mnuchin Plans to Put $455 Billion Beyond Yellen's Easy Reach

"Saleha Mohsin

(Bloomberg) -- Treasury Secretary Steven Mnuchin will put $455 billion in unspent Cares Act funding into an account that his presumed successor, former Federal Reserve Chair Janet Yellen, will soon need authorization from Congress to use.

The money will be placed in the agency’s General Fund, a Treasury Department spokesperson said Tuesday. Most of it had gone to support Federal Reserve emergency-lending facilities, and Mnuchin’s clawback would make it impossible for Yellen as Treasury secretary to restore for that purpose without lawmakers’ blessing.

Democrats swiftly criticized the move, with Bharat Ramamurti, a member of the congressionally appointed watchdog panel overseeing Fed and Treasury Covid-19 relief funds, saying “the good news is that it’s illegal and can be reversed next year.

A Treasury spokesperson rejected that analysis, saying Mnuchin’s move was legal under the Cares Act stimulus law that originally provided the funding. Republicans and Democrats similarly clashed on Friday over whether the outgoing Treasury chief’s reading of the law required the phasing out of a welter of Fed facilities at year’s end.”

https://finance.yahoo.com/news/mnuchin-put-455-billion-funds-195143177.html

Truly evil people that are part of trump's deplorable administration



11 replies, 899 views

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Arrow 11 replies Author Time Post
Reply Mnuchin Plans to Put $455 Billion Beyond Yellen's Easy Reach (Original post)
still_one Nov 25 OP
brush Nov 25 #1
still_one Nov 25 #2
SheltieLover Nov 25 #3
XanaDUer2 Nov 25 #4
Roisin Ni Fiachra Nov 25 #5
onetexan Nov 25 #6
gratuitous Nov 25 #7
Yo_Mama_Been_Loggin Nov 25 #8
Hermit-The-Prog Nov 25 #9
dsc Nov 25 #10
kentuck Nov 25 #11

Response to still_one (Original post)

Wed Nov 25, 2020, 05:35 AM

1. Hope Biden can undo this when he takes over. These evil a-holes should not be able...

hamper the in-coming admin.

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Response to brush (Reply #1)

Wed Nov 25, 2020, 06:16 AM

2. I hope so. Gosh I hope we win the runoffs

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Response to still_one (Original post)

Wed Nov 25, 2020, 06:24 AM

3. Rupuke slush fund

Likely how he sees that pot of $.
I hope Joe can undo this along with everything else repukes have done!

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Response to still_one (Original post)

Wed Nov 25, 2020, 06:38 AM

4. And yet millions of our

citizens voted for four more years

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Response to still_one (Original post)

Wed Nov 25, 2020, 07:05 AM

5. Lock him up. He is deliberately causing harm to the people

of the US.

Unspeakably wicked partisan act deliberately undertaken to cause harm to innocent people.

Filthy scumbag needs top be investigated with a fine tooth comb and put on trial after Jan 20.

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Response to still_one (Original post)

Wed Nov 25, 2020, 09:43 AM

6. Yes it's illegal and can be reversed next year. What a dumbass. He can't lock away funding

unilaterally like that. Dems control the House & purse strings.

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Response to still_one (Original post)

Wed Nov 25, 2020, 09:49 AM

7. The cruelty IS the policy

I suspect Mnuchin was slightly better at submerging his illegal activities at Treasury, and won't be a high-profile candidate for a pardon from Trump. But he'd be a fool not to have his hand out for one on his way out the door.

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Response to still_one (Original post)

Wed Nov 25, 2020, 05:32 PM

8. I that even legal

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Response to still_one (Original post)

Wed Nov 25, 2020, 06:33 PM

9. It's not just the administration; Republicans are dedicated to destroying government.

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Response to still_one (Original post)

Wed Nov 25, 2020, 06:35 PM

10. actually just declare the same emergency Trump used to fund the wall

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Response to still_one (Original post)

Wed Nov 25, 2020, 06:40 PM

11. Wh-a-a-a-t ??

Where does he keep the money? Under his mattress? So much temptation $$$$$$$$$$$$ ...

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