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i remember a similiar case down here, i think it was packer or murdoch, their companys made billions, and only paid like $100 tax, while they spent millions on lawyers to fight the charges of tax evasion, and they won lol....awesome.
Bank of America has it well deserved because they tried to screw over their stockholders with the Merrill Lynch acquisition, and they screwed over most of their credit card customers by jacking up the APR to circa 25% when the crisis came around...
i remember a similiar case down here, i think it was packer or murdoch, their companys made billions, and only paid like $100 tax, while they spent millions on lawyers to fight the charges of tax evasion, and they won lol....awesome.
Regardless, we should still be hoping that they can be profitable. The taxpayers are on the hook for backstopping $100 billion of BofA's losses.
Resolution Trust Corp worked once: delist their stocks, take over the banks, etc over, sell off the sellable, or make into a new business, can can the unsellable, wipe out the stockholders (esp the incompetent execs paid in stock options), sell it all back to private investors.
Last edited by boutons_deux; 10-17-2009 at 09:58 AM.
max long term capital gains tax rate is 15%. so, buy and hold and you'll pay lower taxes. also, buy high quality munis and interest is tax free as well.
It's only a matter of time before the LT cap gains rate gets jacked up. I actually wouldn't be all that surprised to see cap gains tax rates get removed entirely with everything just falling under ordinary income.
Thank Obama if it happens
dude thats fkn pretty low, dunno what you guys are complaining about
down here its 50% if you hold onto it for 12months or longer, then its tax at marginal rates whatever scale of taxable income ur on.....
The new SEC chief for enforcement is, wait for it...
Naw. You already guessed it.
(ap)the market watchdog agency said friday that adam storch, vice president in goldman sachs' business intelligence group, is assuming the new position of managing executive of the sec division.
Last edited by Winehole23; 12-06-2010 at 08:00 PM.
Do any of you who voted for "change" have anything to say about this?
Nothing has changed; they just keep us distracted with stuff that doesn't REALLY matter - while they seem to get along, and keep the ball rolling on the important stuff.
The guy sounds like he has relevant professional experience. I guess we'll see who he takes on.
Before joining Goldman Sachs, Storch was a senior consultant at accounting firm Deloitte & Touche. He is a certified public accountant and certified fraud examiner, and has an MBA from New York University and bachelors of science in business administration from the State University of New York in Buffalo.
He probably made $100 of $1000s or $Ms at Goldman Sucks, and his partiality and willingness to police and prosecute is as suspect as Geithner's, Paulsen's, or any other ex-Wall St bankster.
SEC is totally corrupt and unwilling to really police Wall St., other than the rare prosecution as "we're doing our job" window dressing.
Note how it was Spitzer who went after Wall St and not SEC (and note it was Wall St who took Spitzer down, esp after Spitzer took down Greenberg of AIG)
The entire financial sector is a bunch of incestuous, inbred, self-dealing bas s taking care of each other.
from your article it indicates:
Business Insider has more details on Storch, the new COO of SEC Enforcement: He's 29, and has worked at Goldman Sachs for the last 5 years -- since he was 24 years old. I'm sure there was nobody more qualified for that position and that he'll be an absolutely relentless and fearsome force in helping the SEC enforce applicable laws and regulations.
How did, between '02 & '04, Storch become a senior anything @ D&T?I owe Adam Storch an apology for unfairly questioning whether he's really the most qualified person for the position of COO in SEC enforcement. After all, in 2002, he was named as a Co-Winner by SUNY-Buffalo of the prestigious Intern of the Year Award, for his sterling summer work in sorting mail and fetching coffee at Deloitte & Touch
Embellished his resume, did he?
How clever.
http://www.businessinsider.com/dylan...es-out-2009-10The question is not why did we bail out the banks.
The question is why did we give the banks billions of our money so they could then buy assets by the trillions with our money and they keep the profits?
The answer is Henry Paulson, former Goldman Sachs CEO who ran the US Treasury, and Tim Geithner, current Treasury Secretary who at the time ran the New York Federal Reserve, willingly delivered Goldman Sachs the $70 Billion -- with no strings attached.
Last edited by Winehole23; 10-19-2009 at 03:43 PM.
I'm pretty sure this is NOT the capitalism Friedman was talking about.
I'll buy that.
Touche or ?
Thank you. I'll be here all week.
29 years old and he's the SEC enforcement officer?
Really?
There's not anything wrong with Deloitte I know of...Touche or ?
Thank you. I'll be here all week.
.. doosh
OH NO. A company making a profit. We have to do something about that.
You gotta admit, getting a 70 Billion dollar public subsidy without strings and keeping the dough they made on investing the subsidy, is a pretty sweet deal for Goldman.
For the US taxpayer, not so much.
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