TV News LIES

Saturday, Oct 25th

Last update03:25:33 AM GMT

You are here All News At a Glance Economic Glance

Fannie & Freddie: Buying friends in D.C.

When it came to buying influence in Washington, Freddie Mac and Fannie Mae were among Corporate America's biggest spenders.

The two mortgage giants paid $174 million to lobbyists over the past ten years to ensure the political climate would remain friendly to growing the mortgage business - even as the housing bubble began showing signs of bursting, according to a report by the Center for Responsive Politics, a watchdog group.

More...

Workers sorry Vise-Grip plant moving to China

Vise-Grip is an iconic name in Nebraska, one of the most famous products invented or developed in the state, along with Kool-Aid, raisin bran, and the Reuben sandwich.

The locking pliers have been manufactured in DeWitt for more than 80 years. DeWitt blacksmith and Danish immigrant William Petersen got a patent for the device in 1924.

American Tool sold out in 2002 to Newell Rubbermaid, a minority owner since 1985. Since then, the DeWitt plant has operated under the name of Irwin Industrial Tools, a company American Tool bought in 1993.

Oden said employees were told that "to keep the Vise-Grip name competitive, they had to move to China."

More...

The Villains of the Housing Crisis Are Denying All Responsibility

Greenspan insisted everything was fine - there was no housing bubble - and virtually the whole economics profession, including his fellow central bankers, acted an enablers touting Mr. Greenspan's wisdom.

The really tragic part of this story is there are no consequences. The same group of economists that led the economy into this catastrophe still has its hands on the wheel. Holding them accountable for their disastrous performance is simply not on the agenda.

Central bankers are not like dishwashers and custodians. They don't get fired when they mess up on the job. They don't even get a pay cut.

More... 

Lone accountant takes on IRS and wins

Not only that, but tax experts say potentially millions of other taxpayers could benefit from his victory.

The accountant from Baxter, Minn., challenged the method the IRS has used for more than 20 years to tax shares and cash distributed by mutual life insurance firms to their policyholders when they reorganize as public companies.

A federal court recently agreed with his interpretation.

If a company distributed shares worth $30 and a recipient subsequently sold them at $32, under the IRS' view they would pay taxes on all $32. Under Ulrich's interpretation, they would owe taxes only on the $2 per share gain.

More... 

Most companies in U.S. avoid federal income taxes

Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.

The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.

More... 

Our $100 Trillion National Debt

Most likely, the US will simply continue into bankruptcy. This is the most common pathway for nations with fiat currencies and unchecked ruling classes. But let’s assume that somehow a Clone Army of 435 Ron Pauls gets into Congress, while genetic technology brings back Jefferson and Gallatin to their old offices. Can the US be made solvent again?

More... 

The High Cost of a ‘Free Credit Report’

While he believed he had signed up for a free report, he had actually enrolled in a credit-monitoring service that cost $14.95 a month. He says he never expected that it would cost anything.

“It’s called FreeCreditReport.com,” he said. “It’s kind of easy to make that assumption. I didn’t see anything in the process of signing up that said, ‘Hey, if you don’t cancel in 30 days or whatever, you’re going to get charged.’ ”

Consumer groups have long objected to sites like FreeCreditReport.com. Consumers may obtain a free credit report each year from the three major agencies, as mandated by an act that Congress passed in 2003. The only authorized site for that is AnnualCreditReport.com.

The three major credit bureaus, Experian, Equifax and TransUnion, are required to offer reports through the authorized AnnualCreditReport.com, but the bureaus also make money from their own credit reports.

More... 

Page 62 of 65

 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!