Month: August 2012

Fla. Republican: We wanted to suppress black votes

In the debate over new laws meant to curb voter fraud in places like Florida, Democrats always charge that Republicans are trying to suppress the vote of liberal voting blocs like blacks and young people, while Republicans just laugh at such ludicrous and offensive accusations. That is, every Republican except for Florida’s former Republican Party chairman Jim Greer, who, scorned by his party and in deep legal trouble, blew the lid off what he claims was a systemic effort to suppress the black vote. In a 630-page deposition recorded over two days in late May, Greer, who is on trial for corruption charges, unloaded a litany of charges against the “whack-a-do, right-wing crazies” in his party, including the effort to suppress the black vote.

Fla. Republican: We wanted to suppress black votes

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Exhaustive Study Finds Global Elite Hiding Up to $32 Trillion in Offshore Accounts

 A new report reveals how wealthy individuals and their families have between $21 and $32 trillion of hidden financial assets around the world in what are known as offshore accounts or tax havens. The actual sums could be higher because the study only deals with financial wealth deposited in bank and investment accounts, and not other assets such as property and yachts. The inquiry was commissioned by the Tax Justice Network and is being touted as the most comprehensive report ever on the "offshore economy." It also finds that private banks are deeply involved in running offshore havens, with UBS, Credit Suisse and Goldman Sachs handling the most assets. We're joined by the report's author, James Henry, a lawyer and former chief economist at McKinsey and Company.

To see more Democracy Now! reports about tax havens, visit http://www.democracynow.org/topics/tax_havens

Exhaustive Study Finds Global Elite Hiding Up to $32 Trillion in Offshore Accounts

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US Treasury will offer floating-rate securities

The Treasury Department said Wednesday that it will offer investors Treasury securities with variable interest rates, similar to those on some home mortgages.

Officials said actual sale of the new type of securities is at a least a year away because of the time needed to modify government computer systems to handle the floating-rate securities.

Treasury said it will continue to study a second unconventional way to sell government debt that would offer negative yields. Investors would, in effect, pay the government for the privilege of socking their money in ultra-safe Treasurys. No decision has been made yet on whether to proceed with negative-yield securities.

US Treasury will offer floating-rate securities

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Audit the Fed Moves Forward!

Last week the House of Representatives overwhelmingly passed my legislation calling for a full and effective audit of the Federal Reserve.  Well over 300 of my Congressional colleagues supported the bill, each casting a landmark vote that marks the culmination of decades of work.  We have taken a big step toward bringing transparency to the most destructive financial institution in the world.

But in many ways our work is only beginning.  Despite the Senate Majority Leader’s past support for similar legislation, no vote has been scheduled on my bill this year in the Senate.  And only 29 Senators have cosponsored Senator Rand Paul’s version of my bill in the other body.  If your Senator is not listed at the link above, please contact them and ask for their support.  We need to push Senate leadership to hold a vote this year.

Audit the Fed Moves Forward!

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