It Never would have occured

[thunderdownunder]

It needs no explanation, it would never have happened, they just talked golf handicaps and holiday plans. Honest.
Anti spin = We made you, we own you and we need you as never before.
Sssssssmoking

http://money.cnn.com/news/newsfeeds/..._N08433981.htm

http://www.nytimes.com/2009/08/09/bu...aulson.html?em

Please may I be excused, there is a dead Octopus and a Snake frying on the B-B-Q and the stench is overpowering.
Should I remind you - this is from CNN - BWAHAHAHAHA.
Do you think there are any Real Investigative Journalists who have the guts to go after the Real stories - forget Presidents.
I want tapes and they have them (even my Broker has to tape any converstation)

[D-Mack]

Re: It Never would have occured

It needs no explanation, it would never have happened, they just talked golf handicaps and holiday plans. Honest.
Anti spin = We made you, we own you and we need you as never before.
Sssssssmoking

http://money.cnn.com/news/newsfeeds/..._N08433981.htm

Please may I be excused, there is a dead Octopus frying on the B-B-Q and the stench is overpowering.
Should I remind you - this is from CNN - BWAHAHAHAHA

It's Reuters, what happened to CNN? They wanted to stop using reuters

CNN to stop using Reuters news service
Thu Aug 30, 2007 8:11pm EDT

By Kenneth Li

NEW YORK (Reuters) - The CNN cable television news network said on Thursday it would stop using the Reuters news service, ending a 27-year relationship, to contain costs and invest in its own news gathering operations.

..
http://www.reuters.com/article/indus...42438020070831

Paulson, Goldman CEO spoke often in heat of crisis

By David Lawder and Jessica Wohl
Reuters
Sunday, August 9, 2009; 12:53 PM
http://www.washingtonpost.com/wp-dyn...080901081.html

[LargoWinch]

Re: It Never would have occured

He not only sold all his holdings in Goldman Sachs...

I believe that was done in order to save on Capital Tax and part of Paulson's "understood" compensation.

I could not have sold millions of GS share tax-free while being at the firm, but could do that while acting as a Treasury secretary.

If someone knows more on this; that would be appreciated.

[thunderdownunder]

Re: It Never would have occured

Added the Saturday NYT Archive - This really pongs

when its your family you go in for them, do you not- F%&K the other 999 Plebs
"Suggesting that AIG was saved for the sake of one firm is as ridiculous as saying firemen put out a fire in a skyscraper to protect just one of the thousands of people in the building," Davis said in a statement.

Pleeeese spare me the Bull. It going to take more than a can of white wash to cover this crap - I promise you

[jtabeb]

Re: It Never would have occured

I believe that was done in order to save on Capital Tax and part of Paulson's "understood" compensation.

I could not have sold millions of GS share tax-free while being at the firm, but could do that while acting as a Treasury secretary.

If someone knows more on this; that would be appreciated.

It's part of taking any gov job post in the cabinet. You get to divest any "conflicits of interest" tax free so as to permit you to act with out bias. Well, okay THAT's what they say officially anyway.

[jtabeb]

Re: It Never would have occured

I believe that was done in order to save on Capital Tax and part of Paulson's "understood" compensation.

I could not have sold millions of GS share tax-free while being at the firm, but could do that while acting as a Treasury secretary.

If someone knows more on this; that would be appreciated.

Here is the FORBES story on this subject

http://www.forbes.com/2006/06/01/pau...tax_print.html


Taxes
A Loophole For Poor Mr. Paulson
Jessica Holzer, 06.02.06, 6:00 AM ETWASHINGTON, D.C. -
For
Henry Paulson Jr., a Goldman-sized tax loophole awaits his pleasure.
High-flying business executives almost always endure financial sacrifice when they make a detour into public service. Paulson is no different: The Goldman Sachs boss will see his annual paycheck shrink from last year's $38 million to a paltry $183,500 once he takes over the job of Treasury secretary.
But don't shed too many tears for Paulson. He has amassed quite a fortune--a roughly $700 million equity stake in Wall Street's premier investment banking house. And soon, he will have the chance to diversify a good chunk of those holdings without paying a dime to the Internal Revenue Service.
By accepting the Treasury post, Paulson is poised to take advantage of a tax loophole that allows government officials to defer capital gains taxes on assets they have to sell to avoid a conflict of interest, as long as the proceeds are reinvested in government securities or a broad array of mutual funds approved by the government within 60 days.
Technically, the tax kicks in once these replacement assets are sold, using the purchase price of the original assets as the cost basis, says Tom Ochsenschlager of the American Institute of Certified Public Accountants. But why sell when you can avoid the tax altogether?
"The idea is never to sell," says Robert Willens, the top tax and accounting analyst at Lehman Brothers. "If you're able to hold onto the replacement assets until your demise, you never have to pay it."
The tax break was designed to ensure that the wealthy are not deterred from taking posts in government because they fear a big tax hit. But it amounts to a significant perk of public office.
Paulson's huge equity stake in Goldman served him well as he flitted around the globe singing the firm's praises to potential clients and investors. It was hard evidence of his faith in Goldman's continued success. But once he is gone from the bank, such a giant concentration of assets could be somewhat of an albatross for Paulson, who, at 60, is surely considering the tax consequences of diversifying his fortune.
It is not a stretch to suppose that, at the margin, the chance to unwind his stake in Goldman Sachs tax-free may have had an influence on his decision to take the Treasury job. After all, if he were to completely divest himself without any tax relief, he would be staring at a tax bill of well over $100 million, Willens says.
Paulson need only obtain a "certificate of divestiture" from the Office of Government Ethics to sell off his 3.23 million Goldman shares, worth about $484 million, tax-free.