Wow, read your reply with interest. Off your topic but…
In one job I had, the Chairman of the Board tried to enlist me in a plan (circa 1984) to recover lost real estate and plant assets in Cuba. Seems Meyercord, Inc. late of Carol Stream, IL had a plant making decals that Castro took over in the revolution. I thought old Harper B. was a tad crazy but other senior staffers said yes, he’d been on a multi-year mission to recover all the lost assets from his watch in the 1950’s. Btw, nothing ever became of the plan even way past 2000.
Rump’s take will be that it’s ok because everyone does this and it’s just smart business. Yes, lots of American businessmen cheat on their taxes, lenders and investors by keeping double or triple books, but it’s the furthest thing from ok. It’s an equal fraud against investors and lenders as against the government.
trump and company commiting tax fraude? Well, yeah, I expected that. Makes for a nice indictment for donnie’s retirement… along with one for obstruction of justice, and a RICO charge, and one last one for being a traitor for betraying our country to the Russians.
They’re gonna be some well paid lawyers in trump’s future. I hope they check to be sure there ard actual funds to cover their paychecks.
One minor corporate governance question: Under normal conditions, if you’re lending some number of millions to someone and it just happens to turn out that the someone’s CFO is your loan officer’s dad, wouldn’t that be a sign to have someone else in charge of the transaction? Or am I just old fashioned?
I know. As many analysts and economists have pointed out for every $1 spent on enforcement brings in $3 in revenue.
During the W. Bush administration the IRS no surprise focused more on poor and working class folks who took the EITC.
