The Private Sector Always Knows Best
December 21, 2010: Deutsche Bank agreed to pay $553 million and admit to criminal wrongdoing on Tuesday, settling a long-running investigation into tax shelter fraud that prosecutors say generated billions of dollars in bogus tax benefits.
The arrangements, which took place between 1996 and 2002, helped wealthy Americans report more than $29 billion in fraudulent tax losses, according to the Justice Department.
Farve Speaks the Truth
“I think stubbornness, hardheadedness and stupidity is what has allowed me to play for 20 years.” No one argued a point well made.
Merry Christmas, Tweedle Hal and Tweedle Hank
The Yankees were hit with an $18 million luxury tax assessment this year after reducing payroll by $5 million and reducing their league-leading luxury tax by $7 million. The tax was their lowest since 2003.
Dumbest Award of the Year
Lacrosse Magazine has named Jack Harmatuck of LeMoyne the Division II Preseason Player of the Year. Congratulations to Jack for an outstanding preseason performance, one that should cinch his nomination to the Preseason Hall of Fame.
Legislature Saves $8,000
Onondaga County Executive Joanie Mahoney and the Republican controlled legislature have adamantly argued that given the current state of the economy public employees must share the same financial burdens as private sector employees, meaning job cuts, reduced pay, and fewer benefits. In a effort to drive home their message, the legislature awarded County Comptroller Robert Antonacci (R) a $12,000 raise to $96,436 The original proposal was for a $20,000 raise so you can see how much Antonacci is suffering.