To be fair, I cannot think of a single legitimate reason for a shell company. Not one I would consider legitimate anyway. The entire point is to hide money from someone else. Not wrong doers, but like, investors or ex wives or the government.
Not sure there could be a legitimate reason for that.
The law came about because international financial law enforcement agencies declared that the number one loophole for financial crimes in the entire world was the existence of US shell corporations. The current administration considers that a compliment.
"Can presidents just stop enforcing any laws they don't like?" Not and be a "president" in the sense of Article II of the Constitution. That is why I never refer to Trump as a "President": he is not.
I honestly think Wonkette is more adept at covering the actual stories that matter better than the NYT. Even adding the satire and irony that we all are thinking...
Thanks! This was one of those stories where I knew very little about the topic going in, but with a little research I just found it more and more outrageous.
I investigate financial crimes for a living and shell companies are such a tremendous pain in the ass. Because of them, Delaware is one of the biggest tax havens in the world, primarily hosting what are known as "personal holding companies," a nice little way of saying "I don't have any money, this LLC with a mailbox at the UPS Store has all of it."
Now if I'm writing risk policy for a US financial institution, I'd probably just start labeling any funds coming through such an entity as suspicious and reporting on them, but I'm not doing that, so we'll see what this does to my day job.
I wonder if all of those judges appointed by TFG are going to be a ticking time bomb for holding these crime-committing weirdos accountable. Can they be trusted to uphold the law and not put a thumb on the scales for them? Garland was SUCH a disappointment.
As someone who actually owned a business, I can state emphatically that hiding my ownership by setting up LLCs or shell corporations would have been vastly more burdensome that just leaving myself listed as the owner. These people a fucking assholes.
Rubio doesn't seem to want to fall on his kompromat sword for the sake of democracy, so if he is being controlled some how, I am unable to feel pity for him. And I hope this is the last government job he is ever allowed to have.
According to Rick Scott, all the business people work seven days a week because they need to get things done, so what's the big deal about one more report being a burden?
I think that, for Trump, a big side benefit of this move is to further humiliate "Little Rubio". Maybe someday Rubio will snap and become the first Cabinet member to assassinate a President.
I can't remember how big we were in the before times anymore. Thanks for reminding me.
Trump makes Reagan look lucid.
To be fair, I cannot think of a single legitimate reason for a shell company. Not one I would consider legitimate anyway. The entire point is to hide money from someone else. Not wrong doers, but like, investors or ex wives or the government.
Not sure there could be a legitimate reason for that.
Edit: also- shadey shell corporations: the only time Republicans don't ask for your ID
The law came about because international financial law enforcement agencies declared that the number one loophole for financial crimes in the entire world was the existence of US shell corporations. The current administration considers that a compliment.
"Can presidents just stop enforcing any laws they don't like?" Not and be a "president" in the sense of Article II of the Constitution. That is why I never refer to Trump as a "President": he is not.
I only ever refer to him as "that fucking guy", or tfg for short.
I call him the Dumb Antichrist
“Sides with Fentanyl Pushers, Human Traffickers, Fraudsters, and Tax Cheats.”
AKA, Pedo47’s base.
"Remember when Rubio was still good?"
"/b/ was NEVER good."
I honestly think Wonkette is more adept at covering the actual stories that matter better than the NYT. Even adding the satire and irony that we all are thinking...
Amazing job!!!
Thanks! This was one of those stories where I knew very little about the topic going in, but with a little research I just found it more and more outrageous.
I read every word you write, even if it is a deeper dive than I anticipated. Thanks Dok!
I investigate financial crimes for a living and shell companies are such a tremendous pain in the ass. Because of them, Delaware is one of the biggest tax havens in the world, primarily hosting what are known as "personal holding companies," a nice little way of saying "I don't have any money, this LLC with a mailbox at the UPS Store has all of it."
Now if I'm writing risk policy for a US financial institution, I'd probably just start labeling any funds coming through such an entity as suspicious and reporting on them, but I'm not doing that, so we'll see what this does to my day job.
"I investigate financial crimes for a living"
We are really going to need you
Like -- way more than before when SEC seemed to prefer collecting those fines to actually giving a CEO et al some jail time
I wonder if all of those judges appointed by TFG are going to be a ticking time bomb for holding these crime-committing weirdos accountable. Can they be trusted to uphold the law and not put a thumb on the scales for them? Garland was SUCH a disappointment.
This is a whole discussion
I am being chided bc I'm supposed to be on vacation, lol
I will return
𝘣𝘶𝘳𝘥𝘦𝘯𝘴𝘰𝘮𝘦 𝘳𝘦𝘱𝘰𝘳𝘵𝘪𝘯𝘨 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘮𝘦𝘯𝘵 𝘧𝘰𝘳 𝘮𝘪𝘭𝘭𝘪𝘰𝘯𝘴 𝘰𝘧 𝘭𝘢𝘸-𝘢𝘣𝘪𝘥𝘪𝘯𝘨 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘰𝘸𝘯𝘦𝘳𝘴
As someone who actually owned a business, I can state emphatically that hiding my ownership by setting up LLCs or shell corporations would have been vastly more burdensome that just leaving myself listed as the owner. These people a fucking assholes.
I wonder sometimes whether Marco Rubio is the one with the living, active brain worms.
Rubio doesn't seem to want to fall on his kompromat sword for the sake of democracy, so if he is being controlled some how, I am unable to feel pity for him. And I hope this is the last government job he is ever allowed to have.
Great Photo and TGIF to you and all of your readers, Doktor, and will reStack ASAP 💯👍
According to Rick Scott, all the business people work seven days a week because they need to get things done, so what's the big deal about one more report being a burden?
Fu k these assholes into the Sun!
“eliminating a burdensome reporting requirement for millions of law-abiding business owners without compromising our national security.”
Am I the only one having trouble parsing that sentence?
"Relax, cartels, oligarchs and North Korea will definitely not find a way to exploit this unless they're paying Daddy for the privilege."
I think he means the brown and black people wont be able to use this, maybe...🤔
I must ask, what could possibly be Trump's rationale for suspending this law? mhwaaa hahahaha hahaha ha ha!!!!! Those fucking fuckers.
I think that, for Trump, a big side benefit of this move is to further humiliate "Little Rubio". Maybe someday Rubio will snap and become the first Cabinet member to assassinate a President.
But I was promised Cuba!