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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (460480)	3/2/2009 6:23:58 PM
From: Road Walker	Read Replies (1) \| Respond to of 1575429

I think suspending M 2 M would lead to improvment in the banks and the markets. I agree, to give breathing room... but it still seems like voodoo, nothing fundamental changes.

To: tejek who wrote (460480)	3/2/2009 6:25:44 PM
From: longnshort	1 Recommendation Respond to of 1575429

Tax Problems Surface for Trade Rep. Nominee Kirk By Michael D. Shear Posted at 4:25 PM ET on Mar 2, 2009 \| Category: Cabinet voices.washingtonpost.com Former Dallas mayor Ron Kirk, who is President Obama's nominee to be the U.S. Trade Representative, failed to pay almost $10,000 in taxes during the past three years because of a series of mistakes, the Senate Finance Committee announced today. Kirk's errors involved honoraria from speeches, on which he should have paid taxes; the cost of sports games, for which he deducted too much; and improper treatment of accounting fees on his income taxes. Kirk has agreed to file amended returns. The news about Kirk's mistakes comes as tax-related issues have become a topic of great sensitivity for the administration, following incidents with several high-profiled appointees whose nominations were threatened or derailed because of tax mistakes. Former senator Tom Daschle was forced to abandon his bid to be secretary of health and human services after revelations that he had failed to pay taxes on the use of a chauffeur. Obama's choice to be the country's chief performance officer, Nancy Killefer, withdrew because of a failure to pay a small amount of employment taxes. And Treasury Secretary Tim Geithner was confirmed after acknowledging that he had paid more than $40,000 in back employment taxes and interest only after being chosen to lead the department. Obama picked Kirk on Dec. 19, the final Cabinet choice before Inauguration Day. The former mayor's nomination has languished since then for unknown reasons even as other Cabinet nominees were confirmed. Kirk, who would become the fourth African American in the Obama Cabinet, served six years as Dallas mayor before launching a losing bid for the U.S. Senate against Sen. Phil Gramm (R-Tex.). Kirk did not respond to several requests for comment left on his phone and by e-mail. The Finance Committee released its findings about Kirk's taxes after a meeting of its members today. "It is the responsibility of the Finance Committee to conduct a thorough vetting of all nominees whose confirmations fall under our jurisdiction," the committee said in a statement. "The Committee produced this report and conducted a briefing for the staff of Committee members today to ensure the appropriate level of transparency and to ensure senators are fully informed and are able to assess the relevant information before the panel considers Mr. Kirk's nomination next Monday." But the Democratic chairman of the committee, Sen. Max Baucus (Mont.), released his own statement affirming his support for Kirk. "Mayor Kirk is the right person for this job and I will work to move his nomination quickly," Baucus said. "I am confident he can successfully restore the confidence of Congress and the American people in a balanced international trade agenda." Baucus's Republican counterpart, Sen. Charles Grassley, will "reserve judgment" until a hearing is completed, said to his spokeswoman, Jill Gerber. The committee plans to hold a hearing on Kirk's nomination next Monday. Kirk's tax problems, according to the committee, were largely based on his failure to pay taxes on honoraria that he earned from speaking. He had not paid taxes on the income because he had asked that the fees be diverted to his alma mater, Austin College, to fulfill a pledge to a scholarship fund. The committee said he also deducted too much from his taxes from the purchase of season tickets to NBA Mavericks games. And it said he incorrectly apportioned accounting fees between his partnership forms and his personal income tax forms. Kirk also overstated the value of a television he donated, valuing it at $3,000 instead of $1,500, the committee found. And he did not have an acknowledgment letter for a $900 donation.