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News & ArtsFriday, January 27, 2012
2012 "The blind trust is an age-old ruse."
Posted by Paul Constant on Fri, Jan 27, 2012 at 1:29 PM
That's what Massachusetts senatorial candidate Mitt Romney said to Ted Kennedy back in 1994, according to Wonkette. Here's video* of their debate:
That's a far cry from the Mitt Romney of last night who said his Fannie and Freddie investments were in a blind trust and out of his control. (Which was a lie, anyway.) This is further proof that Mitt Romney has firmly planted himself on both sides of every single issue on God's green earth.
* Also: Can we talk for a moment about how depressing it is that video from 1994 looks so ancient? That debate may as well have been recorded in hieroglyphics. I remember 1994 in vibrant HD, dammit.
1
Well, it is C-SPAN and probably was not very good quality to begin with. Age has only deteriorated it further. Cut yourself some slack.
But, yeah, in 1994, we thought we were hot shit, technology-wise. If we could have seen ahead even five years, we would have slapped ourselves.
But, yeah, in 1994, we thought we were hot shit, technology-wise. If we could have seen ahead even five years, we would have slapped ourselves.
4
Speaking of blind trusts, which was how this was structured:
The Clinton family investments include one in Quellos Alpha Engine, part of the hedge fund Quellos Capital Management of Seattle.
The New York investment house BlackRock bought Quellos last year. Before the sale, a Senate subcommittee accused Quellos of trading in abusive tax shelters. The firm reportedly also was the subject of an Internal Revenue Service investigation. Quellos denied wrongdoing.
http://articles.latimes.com/2008/apr/05/…
The top two guys from Quellos ended up being convicted for tax fraud and going to jail, and the Clintons' investment value skyrocketed with the purchase of Quellos by Blackrock (which was contracted by then-NY Fed Chairman Timothy Geithner to oversee the TARP bailouts, and renewed when Geithner became Treasury Secretary.
Now, I'm not suggesting the obvious....that this was the typical form a payoff takes....I'm sure it was just yet another fortuitous coincidence among the professional political elite class.
http://crosscut.com/blog/crosscut/13160/…
The controversial former Seattle investment firm Quellos Group makes an appearance in the just-released Clinton tax returns. The Washington Post reports that the Clinton's tax filing for 2006 discloses "an interest of an undisclosed size" by the Clintons in Quellos Alpha Engine, an investment fund headquartered in the Cayman Islands. Alpha Engine was one of a number of funds-of-funds – a bunch of separate hedge funds bundled into a single mutual fund – run by Quellos Group.
In that same year, Quellos was called before a U.S. Senate subcommittee [86K PDF] investigating abusive tax shelters. The committee's report charged Quellos with shortchanging the Treasury by engaging in fake transactions using offshore shell companies to generate billions of dollars in capital losses.
More...
The Clinton family investments include one in Quellos Alpha Engine, part of the hedge fund Quellos Capital Management of Seattle.
The New York investment house BlackRock bought Quellos last year. Before the sale, a Senate subcommittee accused Quellos of trading in abusive tax shelters. The firm reportedly also was the subject of an Internal Revenue Service investigation. Quellos denied wrongdoing.
http://articles.latimes.com/2008/apr/05/…
The top two guys from Quellos ended up being convicted for tax fraud and going to jail, and the Clintons' investment value skyrocketed with the purchase of Quellos by Blackrock (which was contracted by then-NY Fed Chairman Timothy Geithner to oversee the TARP bailouts, and renewed when Geithner became Treasury Secretary.
Now, I'm not suggesting the obvious....that this was the typical form a payoff takes....I'm sure it was just yet another fortuitous coincidence among the professional political elite class.
http://crosscut.com/blog/crosscut/13160/…
The controversial former Seattle investment firm Quellos Group makes an appearance in the just-released Clinton tax returns. The Washington Post reports that the Clinton's tax filing for 2006 discloses "an interest of an undisclosed size" by the Clintons in Quellos Alpha Engine, an investment fund headquartered in the Cayman Islands. Alpha Engine was one of a number of funds-of-funds – a bunch of separate hedge funds bundled into a single mutual fund – run by Quellos Group.
In that same year, Quellos was called before a U.S. Senate subcommittee [86K PDF] investigating abusive tax shelters. The committee's report charged Quellos with shortchanging the Treasury by engaging in fake transactions using offshore shell companies to generate billions of dollars in capital losses.
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