Cenk Uygur on MSNBC: Bank Of America Payed No Taxes While Earning 4.4 Billion

[no limit]

Run time: 01:53 https://www.youtube.com/watch?v=XDli39Mc4k0   Posted on YouTube: February 28, 2011 By YouTube Member: leftunderground Views on YouTube: 2   Posted on DU: February 28, 2011 By DU Member: no limit Views on DU: 3388

 
This is from the show just a few minutes ago. Absolutely unbelievable.

[RKP5637]

1. Recommend!!! n/t

[Bozita]

2. +1

[emilyg]

6. +2

[timefortherevolution]

3. F'in obscene!!!! THANKS CONGRESS! They are corporate whores.

[howaboutme]

4. They all received boundless tax losses that can be carried forward

to infinity even when not warranted or legal.

These banks were effectively bankrupt but were turned into commercial banks and that saved their shareholders and executives.

Even the commercial banks such as BOA were given exclusions. Their books should have been purged and cleansed because they were bankrupt. Instead they were given special Obama exclusions to the tax code that now allows them to carry forward the tax losses that American taxpayers subsidized.

This is all too complicated for the preponderance of Americans whose eyes now glaze over at the thought of having to comprehend the silly thought of being concerned about getting fucked.

The poor should be most concerned about reality, but instead the reality is that the poor are the least concerned, most uneducated, and most willing to turnover the keys to the country to those most corrupt and politicians most disinterested, but who say the right stuff and support programs, good TV and sports.

[BrklynLiberal]

5. Ironic. Madoff was right in his latest interview. The biggest Ponzi scheme of all was the

new "regulation" of the financial industry.

http://www.ny1.com/content/top_stories/134704/madoff-calls-federal-government-s-financial-reform-a--joke-

In an interview published in this week’s New York Magazine, Wall Street swindler Bernard Madoff says the federal government is a Ponzi scheme.

Madoff says the government's new financial regulatory reform is a "joke,” and he added the Securities and Exchange Commission “looks terrible in this thing."

The comments echoed an earlier New York Times interview where Madoff said banks "had to know" about his scheme to cheat investors out of billions.

Madoff also admits to the magazine that he destroyed his family and is devastated by the death of his son, Mark, who hanged himself last year on the second anniversary of his father's arrest. Investigators had been trying to determine if Mark and his brother were involved in Madoff's fraud.

Madoff is serving a 150-year prison sentence.

[slay]

7. +1

if anyone would know, it would be him.

[emilyg]

13. +100

[liberation]

26. Funny how after all is said and done, the only guy who has gone to jail so far...

... was the one who ripped off rich people.

[ThomCat]

30. The people who crow that Obama did a great job "regulating

wall street" are fools and idiots for believing that wall street really is being regulated. The so called regulations are a sham to convince fools and idiots keep them complacent while, in fact, wall street is still committing financial fraud as usual.
:grr:

[BrklynLiberal]

33. Absolutely right,

[Imagevision]

8. Another example of getting screwed in the USA

[Amonester]

9. Absent any SERIOUS and JUST campaign REFORM bill, FIRST.

Forget the whole shebang.

Just forget it.

NOTHING ELSE WILL EVER BE DONE.

And since such a REFORM would (eventually) be passed by... corrupt-to-the-core pols...

Well... only a revolt.... Lybia-style... would stand a chance..,.

Otherwise, it's all the way down the bathtub.

[defendandprotect]

10. And 83,000 homeless in LA alone -- who even knows the total across America?

When was the last time we heard a politician talk about homelessness or

our impoverished citizens?

[Amonester]

11. "Paid to NOT talk about that"

Only while campaigning...

The whole shebang is so 'transparent' it's mind-boggling.

[defendandprotect]

12. Exactly true ....

and think many more now are willing to face the whole truth of that!

Big difference from what Americans are taught about their country and capitalism!!


:blush:

[emilyg]

14. .....

Homeless in America | Washington ProFile - International News ...Homeless in America. About 3.5 million US residents (about 1% of the ... There is still no accurate information on the number of homeless people in the US. ...
www.washprofile.org/en/node/2295 - Cached

[democracy1st]

15. K & R!

[Enthusiast]

16. "Oh, but we must preserve

our freedumbs."

[mackerel]

17. How is this even possible? Why are they still laying-off

workerbees?

[RoccoR5955]

18. They pay no taxes, get payoffs from the government,

yet they nickel and dime people on charges.

[reformist2]

19. They print money, but never give it to the people!

Our government is fascist, is one with the big banks and big business.

[nradisic]

20. Tax the banks and the wealthy...

The only way we get out of this mess once and for all is to tax these bastards until it fucking hurts. There is a ton of money out there to pay for all this country needs...it is just in the hands of the uber-wealthy and the damn corporations....Tax Baby Tax...

[TwentyFive]

21. Stupid Moran liberals just don't understand. Business taxes are passed onto consumers.

Business should NEVER be taxed. When it's Bidness, you leave it alone. Understand?

Just to help you moran liberals, let me educate in Limbaughnomics. Business taxes are just passed onto consumers in the form of higher prices. It's the innocent consumer who pays. Why do you hate consumers and America?

While we're on this subject...same goes for lawsuits, minimum wage, unions, environmental laws, etc. Just eliminate all them there laws and regulations, and guess what? The CONSUMER wins. That's the wonderful magic of the free market!!!!

[olegramps]

22. This is the logical result of politicians being bought by corporations.

Every bill that is passed has special interest exceptions added to pay off the corporations. An example was Pete Coors who bragged that Coors Brewery was able to take advantage of recent loopholes to lower their tax to zilch and increase their profit margin. How patriotic of these greedy bastards.

These people are a cancer that has eaten the nation alive and the Republic is little more than a basket case on life support. It will take drastic measures to right the ship and it doesn't appear that Obama has the fortitude to draw the line in the sand as he wrings his hands in despair. His choosen role appears to be analogous to a nurse making the dying patient comfortable in their last days rather than attacking the cause of their illness.

Aristotle in his work "Politics", in which he examined the various forms of government, warned that a democracy can only exist if it has large prosperous middle class. When the middle class disappears the state will self destruct as the oligarchs take complete control leaving the masses in abject poverty. This in turn will eventually result in bloody rebellions which brings to mind what transpired during the French Revolution. It is unfortunate in the present educational system that today's citizens have never had the opportunity to ponder the wisdom of Plato, Aristotle and other voices from the past and gain from their experiences.

[FailureToCommunicate]

23. Luckily Bank of Amerika is similarly generous and forgiving with

customers:
Late on your payment? "We understand."

Messed the math and got an overdraft? "We'll let it slide."

"Hey, Tax Payers (you rubes) we need more TARP $$"

"See? We can work together."

[avaistheone1]

24. Only the little people pay taxes.

[Enrique]

25. look at all the people buying junk food with food stamps

pay no attention to the corporations dodging billions in taxes.

[JDPriestly]

27. And on top of this, the major shareholders argued that, since the corporations

pay such big taxes, they as shareholders should not have to pay taxes on their earnings which are classified as capital gains and taxed at low levels.

The nerve of these people.

Cenk forgot to mention that the banks get to borrow from the Fed at almost no interest. And that is where the money that is holding up the stock market is coming from. From money that these rich people should be paying in taxes and from money the investors get for free.

Wages are low. Interest paid to ordinary depositors is very, very low (almost nonexistent), but profits are high and taxes are low. What's wrong with this picture?

[johnnypneumatic]

28. we need an Alternative minimun tax for corporations

5% of gross income

[Major Hogwash]

29. Thank you, Senator Dodd Luv Much, Bank of Amerika

Almost makes you wonder how much they paid them off for that bailout deal.

[progressoid]

31. But they create all the JOBS!!elevens!!

And the teabaggers would rather all corporations pay no taxes.

[pam4water]

32. I knew it was bad. I didn't know it was that bad. K&R

[20score]

34. Posting this.