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

[still_one]

"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

[brush]

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

hamper the in-coming admin.

[still_one]

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

[SheltieLover]

3. Rupuke slush fund

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

[XanaDUer2]

4. And yet millions of our

citizens voted for four more years

[Roisin Ni Fiachra]

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.

[onetexan]

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.

[gratuitous]

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.

[Yo_Mama_Been_Loggin]

8. I that even legal

[Hermit-The-Prog]

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

[dsc]

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

[kentuck]

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

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