Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on August 27, 2009, 08:17:16 AM
-
True Adonis' hero must be a CT'er.
This is the Fed's reponse to a Judge who suggested that the public has a right to know which banks got the money and what they did with it.
You knew it wouldn't be that easy.....
Aug. 27 (Bloomberg) -- The Federal Reserve argued yesterday that identifying the financial institutions that benefited from its emergency loans would harm the companies and render the central bank’s planned appeal of a court ruling moot.
"Harm the companies" eh? You mean reveal that they are and have been insolvent, and The Fed has been engaged in covering them up?
“What has the Fed got to hide?” said Senator Bernie Sanders, a Vermont independent who sponsored a bill to require the Fed to submit to an audit by the Government Accountability Office. “The time has come for the Fed to stop stonewalling and hand this information over to the public,” he said in an e-mail.
The Fed is hiding the insolvency of banks. They, along with their handmaidens in Congress (which is where you work Mr. Sanders) even went further and twisted the arm of FASB to legalize intentional accounting distortions that I argue amount to fraud.
The truth of what has been done keeps peeking around the corner in the form of bank failures and FDIC deposit insurance fund losses, with the latest charade being Colonial Bank that was carrying assets thirty seven percent above where its acquiring bank believes is a reasonable mark on the day prior to being taken over, and which in the FDIC's last published release was considered "well-capitalized!"
These losses and the costs of this cover-up are being forcibly extracted from The American People literally at gunpoint through the issuance of hundreds of billions of Treasury Debt which we, our children and grandchildren will have to repay - a staggering total that the CBO and Obama Administration now admit will total nine trillion dollars over the next ten years.
“Experience in the banking industry has shown that when customers and market participants hear negative rumors about a bank, negative consequences inevitably flow,” Norman Nelson, vice president and general counsel for the group, said in the document.
Experience in the banking industry has shown that when you countenance false and inflated marks on assets losses inevitably flow (to the taxpayer) and the longer and more-involved the conspiracy to cover up these losses continues, the worse they are.
We did this in the 1980s with the S&Ls. Now the banking industry and Federal Reserve have the gall to try to defend an identical outrage in the courts.
May Judge Preska deny the motion for a stay.
-
Damn I hope this goes through...we have a right to know period. I have been calling and emailing my rep to support this the day I heard this was introduced.
-
Damn I hope this goes through...we have a right to know period. I have been calling and emailing my rep to support this the day I heard this was introduced.
Beware what you ask for, you might just get it.
-
Beware what you ask for, you might just get it.
In this case bro, I hope I do get it. Maybe it will wake up even more people that our two party system was bought off a long time ago. I'm prepared...
-
Bernie always keeps everyone honest. Best man in the Senate and all of Congress.
-
Beware what you ask for, you might just get it.
no kidding. if an audit = financial collapse, i'll pass!
-
no kidding. if an audit = financial collapse, i'll pass!
the entire banking and credit market is predicated up confidence with counterparts
-
Bernie always keeps everyone honest. Best man in the Senate and all of Congress.
But when Ron Paul says the same thing you call him a CT nut. Plus you said you were glad Tim Geithner was in the postion he's in but he's just as corrupt as the rest of the scum.
-
no kidding. if an audit = financial collapse, i'll pass!
You think there is no price to pay for hiding all this fraud?
-
In this case bro, I hope I do get it. Maybe it will wake up even more people that our two party system was bought off a long time ago. I'm prepared...
I seriously doubt it would if this last election taught me anything its that the majority of america just doesnt care, and im not saying that b/c obama won simply b/c the 2 best candidates where not the ones that were competing for the job.
-
But when Ron Paul says the same thing you call him a CT nut. Plus you said you were glad Tim Geithner was in the postion he's in but he's just as corrupt as the rest of the scum.
Ron Poop is a moron in the broadest sense with his do nothing talk and misinterpretation of American History as well as his inability to separate church from state. Ron Poop also is a joke when he advocates the Gold Standard of the 1800s. Not all of Ron Poop is bad. I agree with him on the legalization of drugs, the closing of military bases around the world, shrinking the military budget. However, I disagree with him more than I agree with him regarding the role of essential, non-profit services.
I am glad Tim Geithner is in charge as Secretary of the Treasury. He is a capable mind with rational policy and an attention to detail and non-corruption.
Should the Federal Reserve have intense oversight. Yes. This is what Bernie Sanders advocates. Poop`s amendment is great for this reason.
-
But when Ron Paul says the same thing you call him a CT nut. Plus you said you were glad Tim Geithner was in the postion he's in but he's just as corrupt as the rest of the scum.
Proof of corruption please.
-
Proof of corruption please.
TAX CHEAT!
-
TAX CHEAT!
Victim of a tax code no single human on earth can understand in its entirety, including any Secretary of the Treasury.
The Tax Code is the problem here.
-
Victim of a tax code no single human on earth can understand in its entirety, including any Secretary of the Treasury.
The Tax Code is the problem here.
The judge today did not buy that excuse from a woman who said TurboTax missed something. I will post the case later.
His GS connections are shady as hell.
-
TAX CHEAT!
By this rationale Sarah Palin is corrupt. Do you think this is the case?
-
Proof of corruption please.
The proof is there but you would rather take his word for it that the guys from Goldamn Sachs are "honorable men". That in itself makes me very dubious about him.
If he can't even do his taxes properly what makes you think he's good for this position, when it's way more complicated?
I'd like your answer as to why you are critical of someone like Ron Paul for asking the same question while you like Sanders cornhole?
-
TAX CHEAT!
Is your hero`s father, Irwin Schiff a tax cheat?
-
The proof is there but you would rather take his word for it that the guys from Goldamn Sachs are "honorable men". That in itself makes me very dubious about him.
If he can't even do his taxes properly what makes you think he's good for this position, when it's way more complicated?
I'd like your answer as to why you are critical of someone like Ron Paul for asking the same question while you like Sanders cornhole?
Scroll up genius. I already answered it.
-
Is your hero`s father, Irwin Schiff a tax cheat?
How much time have you spent studying what he has to say?
-
How much time have you spent studying what he has to say?
I personally don`t think Irwin Schiff is a tax cheat or corrupt, but using 333366 and your rationale he would be considered as such.
Just pointing out your hypocrisies is all.
-
Is your hero`s father, Irwin Schiff a tax cheat?
Yes and he is in jail for it.
-
Scroll up genius. I already answered it.
What, that he can't understand taxes because they are too complicated, but he's the right man for the Secretary of Treasury position?
weak.
-
Yes and he is in jail for it.
Does this mean he is corrupt?
-
U.S. Court Rejects ‘TurboTax’ Defense Relied on by Geithner
Share | Email | Print | A A A
By Cary O’Reilly
Aug. 26 (Bloomberg) -- A federal court rejected an attempt by two Ohio residents to use the so-called TurboTax defense that Timothy Geithner relied on to help win Senate confirmation as U.S. Treasury Secretary.
The U.S. Tax Court in Washington rejected an appeal of accuracy-based penalties assessed by the Internal Revenue Service on Kenneth and Linda Hopson, who claimed they relied on tax-return preparation software that failed to detect income they had omitted from their 2006 federal tax returns.
“Petitioners were not permitted to bury their heads in the sand and ignore their obligation to ensure that their tax return accurately reflected their income,” the court said in an opinion issued yesterday. “In the end, reliance on tax return preparation software does not excuse petitioners’ failure to review their 2006 tax return.”
Geithner, who now oversees the IRS, testified during his confirmation hearing in January that he prepared his own returns when he worked at the International Monetary Fund in 2001 and 2002, using TurboTax, an Intuit Inc. product. He said his failure to pay taxes owed on some income during those years was not flagged by the software.
He told the Senate Finance Committee he accepted responsibility for failing to pay almost $50,000 in taxes, saying his errors were “careless.” Geithner paid some of the money after being audited by the IRS and the rest shortly before he was nominated to the Treasury post.
A Treasury spokeswoman, Nayyera Haq, didn’t immediately return a telephone call seeking comment.
The case is Hopson v. Commissioner of Internal Revenue, 25584-08S, U.S. Tax Court (Washington).
To contact the reporter on this story: Cary O’Reilly in Washington at caryoreilly@bloomberg.net.
Last Updated: August 26, 2009 14:33 EDT
________________________ ________________________ ____________
No apology required TA.
-
What, that he can't understand taxes because they are too complicated, but he's the right man for the Secretary of Treasury position?
weak.
Do you know how large the tax code is? No human on earth is capable of understanding it entirely. Ron Paul, Peter Schiff, Tim Geithner, Milton Friedman, Paul Krugman.........
That oughta tell you something more so about the system rather than the individual.
-
I nominate Adam for the "Greenspan speak" award.
Again, why is Ron Paul a CT nut while Sanders is a hero for asking the same question?
-
Perhaps my man Mike Gravel can explain it to you Bindare and 3333666
-
You and i already had this debate and I agree. However, that does not excuse Geitner for what he did.
-
I nominate Adam for the "Greenspan speak" award.
Again, why is Ron Paul a CT nut while Sanders is a hero for asking the same question?
I will post this again since you didn`t read carefully.
Ron Poop is a moron in the broadest sense with his do nothing talk and misinterpretation of American History as well as his inability to separate church from state. Ron Poop also is a joke when he advocates the Gold Standard of the 1800s. Not all of Ron Poop is bad. I agree with him on the legalization of drugs, the closing of military bases around the world, shrinking the military budget and getting rid of the Income Tax. However, I disagree with him more than I agree with him regarding the role of essential, non-profit services.
I am glad Tim Geithner is in charge as Secretary of the Treasury. He is a capable mind with rational policy and an attention to detail and non-corruption.
Should the Federal Reserve have intense oversight. Yes. This is what Bernie Sanders advocates. Poop`s amendment is great for this reason.
-
Ron Poop is a moron in the broadest sense with his do nothing talk and misinterpretation of American History as well as his inability to separate church from state. Ron Poop also is a joke when he advocates the Gold Standard of the 1800s. Not all of Ron Poop is bad. I agree with him on the legalization of drugs, the closing of military bases around the world, shrinking the military budget. However, I disagree with him more than I agree with him regarding the role of essential, non-profit services.
I am glad Tim Geithner is in charge as Secretary of the Treasury. He is a capable mind with rational policy and an attention to detail and non-corruption.
Should the Federal Reserve have intense oversight. Yes. This is what Bernie Sanders advocates. Poop`s amendment is great for this reason.
Ron Paul introduces this legislation every year. Ron Paul doesn't just want the gold standard back, he wants a commodity standard back.
I'll take Ron Paul over Bernie Sanders thank you.
Uh, no. If any of us pulled the crap that Geithner did then we would be in jail no questions asked. Bindare is correct on that one.
-
You and i already had this debate and I agree. However, that does not excuse Geitner for what he did.
Geithner didn`t do anything wrong. When the mistake was brought to his attention, he corrected it just as Sarah Palin did. The tax code is the problem. I have had relatives in similar situations and have had to pay back taxes because the structure of the tax code is so large, its almost inevitable that one will miss something over time.
-
Ron Paul introduces this legislation every year. Ron Paul doesn't just want the gold standard back, he wants a commodity standard back.
I'll take Ron Paul over Bernie Sanders thank you.
Uh, no. If any of us pulled the crap that Geithner did then we would be in jail no questions asked. Bindare is correct on that one.
No we wouldn`t be in jail at all. I know firsthand.
-
No we wouldn`t be in jail at all. I know firsthand.
So you're a tax cheat? ;D While I agree that our tax code is the most ridiculous and most complex in the world, saying oops on your tax returns and then put in charge of our money isn't exactly the smartest thing to do.
Once again, if he can't handle his own taxes why should we trust him with the nation's money?
-
I will post this again since you didn`t read carefully.
Ron Poop is a moron in the broadest sense with his do nothing talk and misinterpretation of American History as well as his inability to separate church from state. Ron Poop also is a joke when he advocates the Gold Standard of the 1800s. Not all of Ron Poop is bad. I agree with him on the legalization of drugs, the closing of military bases around the world, shrinking the military budget and getting rid of the Income Tax. However, I disagree with him more than I agree with him regarding the role of essential, non-profit services.
I am glad Tim Geithner is in charge as Secretary of the Treasury. He is a capable mind with rational policy and an attention to detail and non-corruption.
Should the Federal Reserve have intense oversight. Yes. This is what Bernie Sanders advocates. Poop`s amendment is great for this reason.
My reading skills are fine just never saw the original post. My bad on this one.
-
My reading skills are fine just never saw the original post. My bad on this one.
I honestly like Paul and probably should not call him Poop. I believe if the majority of the Republican party were like him, we would have actual policy debates devoid of fiction and nonsense.
He is everything the current Republican Party is not. They wouldn`t even let him in their last convention.
If you have to be or support a Republican I guess at least you are supporting the right part of it.