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Non-Tech : Kirk's Market Thoughts
COHR 198.20+0.3%12:00 PM EST
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To: Gottfried who wrote (1591)7/6/2014 7:37:57 PM
From: Jerome  Read Replies (1) of 26759
 
Hi Gottfried....all this tax evasion breaks my heart.

Take Citigroup ....the most recent government fines for the subprime mess is $10 billions of dollars
From CBS evening news:

The U.S. Department of Justice is reported to be pressuring New York City-based Citigroup to pay as much as $10 billion in penalties for allegedly misleading investors about the quality of mortgages that were bundled into securities. Bank of America, based in Charlotte, N.C., may have to pay out as much as $12 billion, according to media reports.
How much money did Citigroup get from the TARP program (Paid for by the taxpayers)?This saved them from going bankrupt.


Try This......http://seekingalpha.com/article/107514-citibank-bailout-300-billion-doesnt-sound-like-a-lot-anymore



The federal government agreed Sunday to take unprecedented steps to stabilize Citigroup Inc. by moving to guarantee close to $300 billion in troubled assets weighing on the bank's books, according to people familiar with details of the plan.
Lets see if we got this right.....The taxpayers funded them to the tune of $300.plus billions. (of taxpayers money)
Citi paid about $40 Billions in penalties for violating out tax laws and rules.

And now Citi is crying because it will cost them $11.3 billion to repatriate earnings that they did very best to hide from the Tax man.

Gee Gottfried....why don't we take up on online collection for CITI.....it should be enough for the CITI executives to buy some tissues so that those crocodile tears don't stain their silk handkerchiefs..

Thanks for posting that article.

PS...Perhaps Citigroup should relocate their corporate headquarters to Afghanistan. They have a very low tax rate and a few small bribes can get you out of paying any taxes.
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