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Frontrunning: November 11
- Goerge Soros: A new world architecture (Project Syndicate)
- Under attack, Fed chief studies politics (NYT)
- The real threat to Fed independence (WSJ)
- Bank of England to keep the heroin IV drip: King says BOE has "open mind" on more bond purchases (Bloomberg)
- Yet somehow, global confidence dips as policy makers begin exit strategies (Bloomberg)
- Hypocrite (lecteur) Geithner yaps about strong dollar policy, glances nervously at gold ticker every 15 seconds (FT, Reuters)
- Greatest trade ever: Paulson's $15 billion (Newsweek)
- Jeffrey Sachs: Obama has lost his way on jobs (FT)
- Did the Nation Overdose on Debt? (Wells Fargo, via RCM)
- Dollar strength is indicative of weak economic policies (IBD)
- Grayson loses millions in Ponzi scheme (Click Orlando, h/t Green Sharts)
- More green shoots: Applied Materials to cut as much as 15% of jobs (Bloomberg)
- The Dodd bill: generally very good (Felix Salmon)
- Clinton warns Senate on failure as health-bill timeline slips (Bloomberg)
»
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Timmy you are doing a heck of a job!!
noice comment
NYT: "Under attack, Fed chief studies politics"
correction: "Barney Frank secretly helps Fed chief avoid audit"
Tim Geithner is a filthy rotten LIAR.
For the umpteenth time he came out again and said he is deeply committed to a strong US Dollar.
He is a filthy rotten LIAR.
Tiny-Tim is a P.O.S. liar.
In a seperate but intricately related note, this should be in the headlines:
"Japan Uneasy About Interest-Rate Rises"
http://online.wsj.com/article/SB125788340812541883.html
thanks andy.
in my view, today is a red letter day for the future of the usa.
at some point in the future, we will be in a situation that makes the bear stearns and then lehman point in time look like a cakewalk.
there is simply no denying what the outcome of this disastrous attempt to cover up the debt problem in the usa with more debt and funny money will be.
NYTimes - At one recent meeting, Senator Sherrod Brown challenged Mr. Bernanke’s bona fides as a regular guy by giving him a pop quiz on baseball statistics. Mr. Bernanke, a passionate fan, passed.
WTF is this crap?!?!?
Number of World Series wins by "the tribe" (2) + Fausto Carmona's e.r.a. (6.32) x odds that Manny Acta will have a winning season (0) = odds Cleveland Indians will win a penant (0). Can I get a Senate appointment to something?
At least we still have Lebron.
I urge anybody who follows Grayson to read that very detailed article on his Ponzi scheme/tax avoidance adventure and provide a plausible explanation of how he could have entered such a scheme without the intention of hiding income and cheating on his income taxes.
a few weeks ago he was "crazy". that didn't work, so now he's a "tax cheat". what's next a picture wit a fi dolla ho?
Did you read the article?
yeah, did you?
A review of public court documents by Local 6 found no evidence Grayson is accused or suspected of any wrongdoing.
“I took these loans in order to make money,” Grayson told Local 6. “My taxes were reported accurately year after year without any question.”
Meanwhile, the judge in the South Carolina case is deciding whether to allow February’s racketeering verdict to stand; if it does, damages would be tripled to $810 million – the largest judgment in South Carolina history, according to the attorney for the bankruptcy trustee. And Grayson’s damages would reach $102 million.
Grayson’s attorney, Alisa Roberts, told the judge there is “absolutely no evidence or any basis upon which (the defendants) might possibly conclude that Alan Grayson or the AMG Trust committed tax fraud.”
Grayson said he did not hold the stocks long enough to accrue any capital gains, because he transferred the stock to Derivium within a week or so of purchasing it. In six early transactions where he was paid a total profit of about $588,000, Grayson said he did report that on his taxes as capital gains.
The record? Please. Wake the f*** up.
"MARK IT ZERO, DUDE"
Somehow the IRS hasn't audited Grayson yet. In every other client of the Ponzi that they audited they ruled it an abusive tax shelter. And Grayson set up an account in a distant country that is known as a place to protect assets from judgments in lawsuits.
Yeah, that's the guy we want working on our country's financial system.
Read it. Not at all surprised. Nothing to see here....move on please. Thank you.
"MARK IT ZERO, DUDE"
Timmy doesn't pay his taxes and he's still hired, Grayson works within the tax law and is called to task. As a tax accountant, it is my job to save my client taxes as long as it is following the tax law. What Grayson did is nothing new and used by tax accountants all over the country. It's a bunch of bullshit.
You've got to be kidding. The IRS ruled this scheme an abusive tax shelter in every case it audited. It is a sham on its face.
Notice that when Grayson was calculating his damages from the Ponzi scheme, he included all the stocks that should have been profitable and left out all the audiences.
But he's our crook, right?
Grayson did not create the scheme, he invested in it. This IRS action wasn't directed at Grayson, he was a party in bringing it against Derivium.
Is that you Ben?
Dear George Soros,
Kiss my ass!
"No fight illustrates Mr. Bernanke’s political challenge better than the one over Mr. Paul’s bill to audit the Fed.
"The maneuvering is still under way, involving intricate negotiations outside of public view. But, aided by the pledge of help from Mr. Frank and backing from the administration, Fed officials cautiously predict they will get what they want."
Barney Frank is so dirty it's pathetic.
People who argue that auditing the Fed is dangerous obviously don't understand the fact that all they are doing is delaying any fallout and because of the delay affording it time to get even bigger. Classic political bullshit where they don't care about fixing the problem, they only care about delaying it so it's eventually someone elses problem.
Idiots.