BS: Where's the first 350 BILLION Mr.Paulson

Subject: BS: Where's the first 350 BILLION Mr.Paulson
From: Art Thieme
Date: 25 Mar 09 - 07:33 PM

I intended the actual title of this thread to be:

BS: Where's the first 350 BILLION, Mr. Paulson?? but ran out of space...

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Q (Frank Staplin)
Date: 25 Mar 09 - 09:31 PM

JPMorgan Chase received $25 billion. Not satisfied with this answer?
Spokesman Thomas Kelly told the Associated Press and Fox News: "We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it. We have not disclosed that to the public. We're declining to'."

Put simply, the answer is: It's none of your business!

Citibank and Bank of America explained that the money they received was being used to strengthen balance sheets and continue making loans to ease the credit crisis. What could be clearer? What more do you want?

What's the matter, Art, are you showing distrust in some major institutions?

(Fox News story, Dec. 22, and an AP story about the same time, found by googling).

The only final recipient I know of who has talked is the Bank of Montreal (BMO) in Canada. They received a payment of some billions owed them by one of the primary recipients- I forget which one. I posted that in one of these threads some days ago but I have forgotten the details. As a sometime depositor in a BMO bank, I am grateful.

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Rapparee
Date: 25 Mar 09 - 09:50 PM

You're welcome.

Can we have it back now?

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Riginslinger
Date: 25 Mar 09 - 10:04 PM

The whole thing is amazing to me!

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Rapparee
Date: 26 Mar 09 - 08:51 AM

Yeah, but could you please lend us back the money we sent? Suppose we promise not to invade Canada for another hundred years or so?

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Art Thieme
Date: 26 Mar 09 - 11:17 AM

Whew!

Art

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Q (Frank Staplin)
Date: 26 Mar 09 - 03:12 PM

Rapaire- are you suggesting Americans should welsh on their debts?

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Goose Gander
Date: 26 Mar 09 - 03:52 PM

Notice that no one ever expects the Welsh to Americanize their debts.

Seems like a double standard.

There, I said it.

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Q (Frank Staplin)
Date: 26 Mar 09 - 05:29 PM

That brings up an interesting thought- American, Scottish, English, Irish, Swiss, etc. etc. banks are lined up for hand-outs, but I haven't heard of a Welsh bank in trouble.

They do have banks, do they not?

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Sawzaw
Date: 27 Mar 09 - 04:30 PM

Ask the man with the plan, Mr G.

In Crucible of Crisis, Paulson, Bernanke & Geithner Forge a Committee of Three

By David Cho and Neil Irwin
Washington Post Staff Writers
Friday, September 19, 2008; Page A01

Global stocks have experienced wild fluctuations this week in the wake of the U.S. government's seizure of insurance giant American International Group, the failure of Lehman Brothers, the disappearance of Merrill Lynch as an independent company and reports the U.S. government will set up a government entity to take on bad debts from financial institutions.

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: Sawzaw
Date: 27 Mar 09 - 04:51 PM

During the presidential campaign, Joe Wurzelbacher became a hot news story because he got Barack Obama to say that he wants to spread the wealth around. Better known as Joe the Plumber, the Toledo, Ohio, laborer became the target of criticism because he might damage Obama's campaign.

   One of the outrages was that Wurzelbacher was a tax cheat because, it was revealed by ABC News, he had a tax lien of $1,182 for back Ohio state taxes.

   Timothy Geithner, defrauded the government of thousands in payroll taxes while working at the International Monetary Fund. The IMF does not withhold such taxes but does compensate American employees who must pay them out of pocket. Geithner took the money, signed a form that said he was aware thet he had to pay taxes on the money and he would do so but the did not report it. He also tried to deduct his kid's summer camp as a business expense, He then blamed it on his ignorance of Turbo Tax.

When the IRS caught his evasion in 2003 and 2004, he decided to use the statute of limitations to avoid paying the thousands of dollars he also failed to pay in 2001 and 2002, until he was nominated to become treasury secretary.

One standard for plumbers and another standard for Treasury Secretarys.

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: heric
Date: 27 Mar 09 - 07:37 PM

Wow. His "innocent mistake" was awfully brazen:

"IMF employees were expected to pay their taxes out of their own money. But the IMF then gave them an extra allowance, known as a "gross-up," to cover those tax payments. This was done in the Annual Tax Allowance Request, in which the employee filled out some basic information — marital status, dependent children, etc. — and the IMF then estimated the amount of taxes the employee would owe and gave the employee a corresponding allowance.

At the end of the tax allowance form were the words, "I hereby certify that all the information contained herein is true to the best of my knowledge and belief and that I will pay the taxes for which I have received tax allowance payments from the Fund." Geithner signed the form. He accepted the allowance payment. He didn't pay the tax. For several years in a row."

http://article.nationalreview.com/?q=YzJjOGQyODY2ZjhhMWY4Y2U3YmVkMjhlMWQ2MWZiNTA

Subject: RE: BS: Where's the first 350 BILLION Mr.Paulson
From: IWTATBM
Date: 28 Mar 09 - 06:08 PM

350 billion eh? Now there's a thought....