The NYT’s report added that the next acting #IRS chief is expected to be the dpty secy of the #Treasury, Michael Faulkender. If that proves true, he’ll be the 5th person to serve as the IRS’ leader in the last 3 months. #Chaos
In Jan, then-IRS Commissioner Danny Werfel, who was nominated by #Biden, resigned on Inauguration Day as #Trump prepared to replace him. Werfel was followed by Doug O’Donnell, a longtime IRS ofcl, who stepped down 1 month later.
But to fully appreciate just how #ridiculous conditions have become at the #IRS, consider the revolving door in the commissioner’s office. NYT reported:
The acting commissioner of the IRS is being replaced after #Treasury Secy #ScottBessent complained to #Trump that the latest leader of the agency had been installed without his knowledge & at the behest of billionaire #ElonMusk.
The #authority to investigate & change #TaxExempt statuses rests solely w/ #IRS, & the president is BARRED from directly or indirectly requesting that the agency exercise that #power against taxpayers [including #universities].
Andrew De Mello, the IRS’s acting chief counsel, received the request Wed from ofcls in the #Treasury Dept…
The Trump admin has displaced numerous IRS leaders to empower political allies…
Trump on Tues [YESTERDAY] appointed Gary Shapley the agency’s acting commissioner….
https://www.europesays.com/uk/18594/ Investors are dumping bonds. Here’s why that’s a problem. #Bonds #Bonds(finance) #Budget #BudgetDeficit #deficit #Department #Donald #DonaldTrump #Finance #financial #FinancialMarketsNews #Investing #Markets #Negative #News #of #Overall #OverallNegative #stocks #StocksU0026Bonds #the #Treasury #trump #U.S. #U.S.DepartmentOfTheTreasury #u0026 #UnitedStates #us #USA
“If the U.S. keeps up the #tariff chaos, we start slowly bleeding your #BondMarket.”
“And so they did.
“Not a fire sale.
“Not a bombastic news conference.
“Just a subtle slow bleed of U.S. #Treasury bonds, signaling to investors across Asia and Europe: the dollar is no longer a sure thing.
4/8
#Palantir Is helping #DOGE build an #API for accessing #IRS records
https://www.wired.com/story/palantir-doge-irs-mega-api-data/
https://deanblundell.substack.com/p/carneys-checkmate-how-canadas-quiet
Interesting analysis of what really made #Trump back down on his #tariffs. (The short version: Canada and Japan, among others, kicked him HARD right in the jewels er, #Treasury #bonds, and made it clear there was plenty more where that came from.)
Think about this, US treasury bonds are now trading at higher yields than Greek treasury bonds. In other words: the bond markets put greater faith in the Greek government’s ability to continue to finance its debt than in the US government’s ability to do so.
#Trump #USA #Geopolitics #Financy #treasury #markets #wallstreet @geopolitics
After #China unveiled steep retaliatory #tariffs on American exports on Wed, #Treasury Secy #ScottBessent issued a sharp & surprising response: “So what?”
The loss of China as an export market will deal a particularly hard blow to #agriculture in red states, hitting the voters who helped #Trump win. On Wed, Trump ratcheted US tariffs on China even higher. #Farmers are concerned that a protracted #TradeWar w/China will cut off ties w/their largest export market.
#economy
https://www.nytimes.com/2025/04/10/business/economy/trump-tariffs-china-farmers.html?smid=url-share
The damage to the US's reputation is already done, and you cannot fix it by delaying #tariffs for 90 days. The #economy is suffering. Even without being an expert, it's clear that trust in #US #Treasury #Bonds won't return to the same level, even after #Trump is gone. There is a small window for #Congress to impeach him and show that they are capable of handling the situation, but unfortunately, the #Republicans don't have the courage to do so.
"As I've said in the past, no one creates leverage for himself like @POTUS," Treasury Secretary Scott Bessent said on X, following the tariff pause announcement.
From quitting to cuck in under 24 hours.
#Treasury Secretary Scott Bessent tried to spin the pause as part of #Trump’s strategy & not a capitulation, saying that the #tariffs had worked to get some of #China’s closest neighbors to seek deals with the #UnitedStates [prove it Bessent]. “Do not retaliate, & you will be rewarded,” he said.
These intimate details about the personal lives of people who live in the #UnitedStates are held in disconnected #data systems across the federal govt—some at #Treasury, some at the #SocialSecurity Admin & some at the Dept of #Education, among other agencies.
The #Trump admin is now trying to connect the dots of that disparate #information.
The US #Treasury’s #OCC disclosed an undetected major email breach for over a year
https://securityaffairs.com/176373/data-breach/the-us-treasurys-occ-disclosed-an-undetected-major-email-breach-for-over-a-year.html
#securityaffairs #hacking
The order was the latest admin victory in #SCOTUS in a case arising from #Trump’s blitz of executive orders. Like others, though, it was technical & tentative. The justices said their order would remain in place while the case moved forward.
The case concerned a preliminary injunction issued last month by a federal judge in California that ordered the admin to reinstate >16k probationary employees it had fired from the #Pentagon, the #Treasury, & the #Agriculture, #Energy, #VA & #Interior Depts.
WTF
#Musk's #DOGE team can access government #data for now, appeals court rules
A divided federal appeals court set aside a court order that had blocked the government downsizing team created by #Trump & led by #ElonMusk from seizing sensitive data from the #Treasury Department, #Education Department & Office of Personnel Management [#OPM].
#law #InfoSec #NationalSecurity #Privacy #AbuseOfPower
https://www.reuters.com/world/us/musks-doge-team-can-access-government-data-now-appeals-court-rules-2025-04-07/
