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Showing posts with label foreign banks. Show all posts
Showing posts with label foreign banks. Show all posts
Wednesday, August 29, 2012
Failure to disclose foreign account is worse than possession of child porn
Simon Black
Jacques Wajsfelner of Weston, Massachusetts is a criminal mastermind. Big time. Like Lex Luthor. But rest easy, ladies and gentlemen, for this nefarious villain is about to face some serious jail time thanks to the courageous work of US government agents.
You see, Mr. Wajsfelner was finally caught and convicted of a most heinous crime: failing to disclose his foreign bank account to the US government. Note-- he was not convicted of tax evasion. He was not convicted of failing to file or pay taxes. His crime was not filing the annual Report of Foreign Bank and Financial Accounts (FBAR).
Because of his failure to disclose his foreign bank account, Wajsfelner is now looking at FIVE YEARS behind bars in a Day-Glo orange jumpsuit.
Friday, December 3, 2010
US Fed lent $3.3tn to multinationals, billionaires and foreign banks
US central bank releases details of thousands of secret loans to global firms as well as foreign banks and American billionaires
Dominic Rushe
Guardian
The global credit crunch of 2008 ran deeper and wider than previously disclosed, forcing the US government to fund firms including General Electric and Toyota, along with banks and billionaire investors, according to documents released by the Federal Reserve.
Under pressure from politicians, the US central bank has released details of 21,000 transactions it made as the global economy faced meltdown.
As well as its well-publicised support of the banking system, the Fed's aid reached far beyond Wall Street, offering finance to the motorbike manufacturer Harley-Davidson, the industrial equipment maker Caterpillar, the telecoms company Verizon and even the computer billionaire Michael Dell as it struggled to keep the economy going. The lending reached $3.3tn (£2.1tn) at its peak.
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Dominic Rushe
Guardian
The global credit crunch of 2008 ran deeper and wider than previously disclosed, forcing the US government to fund firms including General Electric and Toyota, along with banks and billionaire investors, according to documents released by the Federal Reserve.
Under pressure from politicians, the US central bank has released details of 21,000 transactions it made as the global economy faced meltdown.
As well as its well-publicised support of the banking system, the Fed's aid reached far beyond Wall Street, offering finance to the motorbike manufacturer Harley-Davidson, the industrial equipment maker Caterpillar, the telecoms company Verizon and even the computer billionaire Michael Dell as it struggled to keep the economy going. The lending reached $3.3tn (£2.1tn) at its peak.
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