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July, 2012 by joanneleon
“Parents can only give good advice or put them on the right paths, but the final forming of a person's character lies in their own hands.”

~Anne Frank





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News


Amazing timing!  Too bad Scheidermann did not have such motivation to subpoena and prosecute the big banks and help the millions of Americans who were swindled by their mortgage casino banks, the biggest fraud in American history, and instead gave them a ridiculously lenient settlement and the foreclosure fraud goes on.  But I'm sure that this is all some kind of coincidence.  Politico says: "Unless something damning comes up, there will be a fair amount of criticism that this is both politically motivated and politically timed."  The NY Times headline is hilarious.

Inquiry on Tax Strategy Adds to Scrutiny of Finance Firms

Among the firms to receive subpoenas are Kohlberg Kravis Roberts & Company, TPG Capital, Sun Capital Partners, Apollo Global Management, Silver Lake Partners and Bain Capital, which was founded by Mitt Romney, the Republican nominee for president. Representatives for the firms declined to comment on the inquiry.

Mr. Schneiderman’s investigation will intensify scrutiny of an industry already bruised by the campaign season, as President Obama and the Democrats have sought to depict Mr. Romney through his long career in private equity as a businessman who dismantled companies and laid off workers while amassing a personal fortune estimated at $250 million.

Some executives at the firms said they feared that Mr. Schneiderman, a first-term Democrat with ties to the Obama administration, was seeking to embarrass the industry because of Mr. Romney’s roots at Bain. Others suggested that the subpoenas, which were issued by the attorney general’s Taxpayer Protection Bureau, might be part of an effort to recover more revenue for New York under state tax law. The attorney general’s office does not have the power to enforce federal tax laws.

A spokesman for Mr. Schneiderman declined to comment.

Bain Capital Under Investigation For Tax Avoidance-Romney Denies Any Benefit

The New York AG’s Taxpayer Protection Bureau has issued subpoenas to at least twelve financial firms, including Bain, looking into whether the companies converted management fees (taxed as ordinary income) paid by investors into fund investments which are taxed at a dramatically lower rate.

[ ... ]

According to Jack S. Levin, a finance lawyer who has represented Bain Capital, the practice has been in use by investment firms for twenty years and is something the IRS knows about.

U.S. suspends training Afghan police to re-examine recruits

The U.S. military has halted the training of Afghan government-backed militias for at least a month to give the Americans time to redo the vetting of new recruits after a string of attacks by Afghan soldiers and police on their international allies, officials said Sunday.

There have been 34 insider attacks this year — at least 12 in August alone — that have killed 45 international troops, putting intense strain on the relationship between coalition forces and the Afghans they live and work with. The shootings also have thrown doubts on one of the pillars of the U.S.-led coalition’s planned withdrawal by the end of 2014 — training Afghan forces so they can take the lead for security in the country.

Desmond Tutu says Bush and Blair should face trial at International Criminal Court over Iraq

LONDON — Nobel Peace Prize Laureate Desmond Tutu called Sunday for Tony Blair and George Bush to face prosecution at the International Criminal Court for their role in the 2003 U.S.-led invasion of Iraq

[ ... ]

“Those responsible for this suffering and loss of life should be treading the same path as some of their African and Asian peers who have been made to answer for their actions in the Hague,” he added.

White House releases Obama beer recipes after calls from public

(Reuters) - Bowing to growing pressure from thirsty and curious Americans in both parties, the White House on Saturday released the recipes for President Barack Obama's homemade beers, revealing the executive branch's penchant for honey-flavored brews.

In a blog post entitled "Ale to the Chief," White House Assistant Chef and Senior Policy Advisor for Healthy Food Initiatives Sam Kass said that "with public excitement about White House beer fermenting such a buzz, we decided we better hop right to it."





Blog Posts of Interest


DOD to Give Penguin the WikiLeaks Treatment? by emptywheel

March on Wall St South – Mobilization info by OccupyWallSt

Desmond Tutu: Bush/Blair Should Face Trial by One Pissed Off Liberal on DailyKos







Bruce Springsteen - Growin' Up





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