Sunday, August 14th, 2011 - 21:21
The 2008 financial crisis and its
lingering impact triggered the most
severe economic recession in 70
The U.S. Department of the Treasury has played a critical role in the federal government’s response. Managing the nation’s money has always been Treasury’s primary function, but “the role of the department has changed in recent history becauseof this global financial crisis,” acknowledges Dan Tangherlini, assistant secretary of the Treasury for management and chief financial officer. The Treasury continues its core mission of collecting money due to the U.S., making payments, managing borrowing, investing when appropriate, and performing central accounting functions. It has most recently been called upon to implement various financial reforms deemed essential to maintaining the financial system’s stability and integrity.