Microsoft Uses Loopholes To Pay Just 7% Corporate Tax, Cantor Is Hedge Fund's Best Man In Congress, Obamacare Reaches Supreme Court, Bad News For Global Warming Alarmists, The Debt-Interest Road To Hell (LINKS)
OUTRAGE - Microsoft Uses Loopholes To Pay Just 7% Corporate Tax
Eric Cantor Is The Hedge Funder's Best Man In Congress - Washinton Post
The Road To Hell Directly Before Us - MUST READ Karl Denninger
Obamacare Individual Mandate Battle Reaches Supreme Court
DETAILS - Geithner To Announce Backup Plans With No Debt Deal In Place
Fed Governor Speaks: More QE Won't Help Growth But Would Spur Inflation
How The Two-Party Oligarchy Uses Left-Right Charade To Loot The Country
Debt Ceiling Fights Going Back To Eisenhower
Florida Rep. Demands Records On Ousted Foreclosure Fraud Investigators
Publisher That Owns S&P Kills Ritholtz's Bailout Book Critical Of Ratings Agencies
Did S&P flip flop on US debt target? - Reuters
The "Solution" to America's Debt Ceiling Crisis: Looting What has Already been Looted
New NASA Data Blow Gaping Hole In Global Warming Alarmism
Polarbeargate? - More Bad News For Global Warming Believers
Redfaced Greenpeace insists 'we didn't make it up' – we just 'emotionalized the issue
Leaked Audit: Boeing Overcharged Army Up to 177,000% on Spare Parts
West Virginia 72-Year-Old Repels Home Invasion With Knife, 9-Millimeter And Shotgun
Jul 28, 2011 at 8:44 PM
Reader Comments (8)
http://www.chinadaily.com.cn/cndy/2011-07/28/content_12997526.htm
http://www.see.asso.fr/jicable/wets03/pdf/wets03-1-10.pdf
http://www.ritholtz.com/blog/2011/07/the-us-tax-burden-falls-disproportionately-on-individuals-and-small-business/
http://cryptome.org/0005/fincen072911.htm
[snip]
Bank Secrecy Act Regulations--Definitions and Other Regulations
Relating to Prepaid Access
AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.
ACTION: Final rule.
http://corporatecrimereporter.com/morgenson07282011.htm
[snip]
Case in point: former Office of Management and Budget Director Peter Orszag.
Rosner said that the Orszag case is “one that I find most offensive.”
“It’s not on the level of Timothy Geithner or Hank Paulson, but it’s troubling,” Rosner said.
“Peter Orszag was co-author of a study paid for by Fannie Mae back in 2000 or 2001,” Rosner said. “It argued that Fannie and Freddie are incredibly safe and sound, that the stress test that was going to be employed by the regulator insured their safety and soundness. And that there was something like a one in 500,000 chance that they would end up imperiled. And even if that happened, the cost to the taxpayers would be a few million dollars. That’s pretty much what the paper said.”
“Orszag ends up as the head of OMB. And when the government takes Fannie and Freddie into conservatorship, he says – there is about a five percent chance that the government could be on the hook for more than $100 billion. Wrong again. No one calls him out.”
“Orszag is now the vice chairman at Citibank. I noticed the other day he put out an op-ed on Bloomberg which was clearly positioned to support his current institution. And nowhere does it say that he had anything to do with the government, the GSEs. And that’s just the way Washington works.”
“He obviously was in that position to add three zeros to his income on the other side,” Rosner said. “It’s not about public service. It’s about self service.”
Morgenson lamented the lack of criminal prosecution.