A year ago, when opposition from the asset-management industry killed her plan to make money-market mutual funds safer, U.S. Securities and Exchange Commission Chairman Mary Schapiro looked to Timothy Geithner, then the Treasury Secretary, to tackle “one of the pieces of unfinished business from the financial crisis.”
For all the efforts to regulate banks since Lehman Brothers Holdings Inc. collapsed, stock investors have no more faith in U.S. financial institutions now than they did in early 2008, relative to the rest of the market.
President Barack Obama’s re-election is a chance to improve the tax code as part of talks to resolve the looming fiscal cliff, according to two former Treasury secretaries, Paul O’Neill and Robert Rubin.
The New York Yankees, using the 103rd overall pick, drafted University of Michigan outfielder Michael O’Neill, the nephew of former Major League Baseball player Paul O’Neill, who is now a YES television broadcaster for the team.
In early 2001, Paul O’Neill, the new Treasury secretary, began work on a plan for radical tax reform. He wanted simpler forms and fewer deductions, which would make it easy for people to prepare their taxes and cost the government less to process them. He presented a five-inch-thick binder of research to a senior White House official.
The New York Yankees picked the son of pitcher Andy Pettitte and the nephew of former outfielder Paul O’Neill in Major League Baseball’s draft, which concluded over the weekend with 1,216 players selected.