Tuesday, April 5, 2011
Tax Avoidance By U.S. Corporations, 1995 Vs. 2011
http://dailybail.com/home/tax-avoidance-by-us-corporations-1995-vs-2011.html
Video - May 11, 1995
For more check out Citizens for Tax Justice at http://www.ctj.org/
Citizen for Tax Justice's Bob McIntyre discussing General Accounting Office (GAO) report on tax compliance by multinational corporations.
---
And the 2011 version of Bob McIntire...
Video - Mar. 21, 2011
It's only gotten worse. The solution is simple. End the subsidies and loopholes. Stop the bailout that's built into the tax code.
Make The Corporate Tax Rate 25% With ZERO Deductions.
Robert McIntyre, director of Citizens for Tax Justice, testified on March 9 before the Senate Budget Committee on tax subsidies for businesses. He explained that these tax breaks for business (1) are hugely expensive, (2) are often economically harmful, and (3) conflict with fundamental tax fairness.
Senate report to reveal mortgage crisis details: WSJ
 |
| The Journal said the Senate investigation's findings would likely expose bad blood between Goldman and Morgan Stanley © AFP/Getty Images/File Chris Hondros |
WASHINGTON (AFP) - The Senate will soon issue findings of a probe of the US mortgage meltdown that fueled the global financial crisis, with Goldman Sachs likely to face fresh embarrassment over its role, the Wall Street Journal reported Sunday.
The Senate Permanent Subcommittee on Investigations, whose high-profile inquiry commission subpoenaed Goldman's and other executives last year, is due to release its report on the subprime implosion of 2007 and 2008.
The paper, citing people familiar with the matter, said the report was expected to release emails from securities firms that developed or sold subprime mortgages and financial vehicles including collaterized debt obligations (CDO).
CDOs were used to help Wall Street firms bet against the housing market. When the housing bubble burst, several of the top CDOs were downgraded to "junk" status, and their values plunged.
Goldman, the Journal reported, created CDOs in 2006 and 2007 to shield its exposure to the US housing market, and has been accused of making large bets against the market while selling bullish positions to group that were not expecting the market to fall.
People familiar with the matter said Goldman and Deutsche Bank -- both of which have been criticized for misleading investors in the housing market -- were expected to draw particular scrutiny in the report, the Journal said.
In January, Goldman said it was renewing its commitment to the "primacy" of client interests, and laid out 39 recommendations stressing greater transparency in how the company does business, especially with regard to its own private trading and potential conflicts of interest.
The Journal said the Senate investigation's findings would likely expose bad blood between Goldman and Morgan Stanley, another Wall Street giant, over their roles in a deal involving a CDO called Hudson Mezzanine Funding 2006-1.
According to the Journal, Goldman had sold insurance on the CDO, allowing the company to make money if and when the loans backing the deal began to default.
The Senate report was expected to disclose that Morgan Stanley was a key counterparty in the Hudson deal, said the paper.
It said Morgan Stanley's involvement in the deal was one of the company's bad mortgage bets that contributed to its $9.0-billion trading loss in 2007, while Goldman's mortgage division lost some $1.2 billion in 2007 and 2008, the worst years of the crisis.
© AFP -- Published at Activist Post with license
Rainwater in California Measured 181 Times The Acceptable Limit For Drinking Water
Officials at UC Berkeley have tested rain water that turned out to be 181 times the limit for drinking water. This is happening at the same time that our FAKE corporate media is telling the sheeple that there is absolutely nothing to worry about.
“As shown in the graph below, published by UC Berkeley, Iodine-131 peaked at 20.1 becquerels per liter, a measure of radioactivity, on the roof of Etcheverry Hall during heavy rains a week ago. The federal maximum level of iodine-131 allowed in drinking water is 0.111 becquerels per liter,” The Bay Citizen reported Saturday.
The Norwegian Institute of Air Research is also predicting that moderate levels of radiation will hit the U.S. west coast on April 5th and 6th.
Meanwhile in Japan, 250 people protested TEPCO’s criminal cover up of one of the largest nuclear disasters in history.
Demonstrators included longtime anti-nuclear activists, rappers, drummers, a guitarist and a female impersonator holding aloft a sign telling Japan’s government, “Shame on you.” They marched from TEPCO’s headquarters to the building that houses Japan’s Ministry of the Economy, Trade and Industry, about four blocks away, reported CNN.
The lack of of experts speaking the truth about this disaster is startling and without the few that are, the people of the world would be left to the mercy of their respective governments who have a long history of covering up disasters involving radiation.
Arnie Gunderson of Fairewinds Associates and a nuclear expert is one of the few experts speaking that is speaking the truth. He reported today that evidence shows that a periodic chain reaction is occurring at Fukushima Unit 1.
It is clear that the Japanese government and in turn the American government have continually lied about the situation and cannot be trusted whatsoever. While a deadly radioactive cloud sweeping through the U.S. remains highly unlikely, the long term effects of this disaster could be horrific.
Newly released TEPCO data provides evidence of periodic chain reaction at Fukushima Unit 1
Recent press reports have discussed the possibility that Fukushima Unit 1 may be having a nuclear chain reaction. New data released by TEPCO indicates that even though Fukushima Unit 1 was shut down during the March 11 earthquake, it appears to have "gone critical" again without human intervention. The detection by TEPCO of short-lived radioactive isotopes substantiates the existence of this inadvertent criticality.
http://vimeo.com/21881702
http://vimeo.com/21881702
Subscribe to:
Posts (Atom)