Monday, August 25, 2014

South Florida, Viral ID Theft, Tax Fraud

IRS commissioner visits Miami to spotlight viral ID theft, tax fraud - Business - "“It has been spreading like a virus in South Florida,” Ferrer said. “Not only is it America's fastest-growing crime, it is a consumer's worst nightmare.” South Florida victims run the gamut: Holocaust survivors, U.S. Marines stationed in Afghanistan, hospital patients and senior citizens. Perpetrators routinely steal the names, dates of birth and Social Security numbers of people, including prisoners, the poor and even children. They are attractive targets because they don't file income tax returns. As a result, the IRS can't detect duplicate filings." (read more at link above)


Monday, August 18, 2014

Who Will Save Us from Big Government

Panel Discussion Big Government | Video | "Authors P.J. O’Rourke, Charles Murray, and John Allison, talked about the growth of the federal government. “Who Will Save Us from Big Government” was a panel at FreedomFest, an annual libertarian conference held July 9-12, 2014, at Planet Hollywood in Las Vegas, Nevada. " (video at link above)


Monday, August 11, 2014

Unfounded Expectations, Irrational Policies, Politicians

Getting Over Hedge Funds - Bloomberg View:  "... If anyone has an explanation for how these unfounded expectations came about, or why they persist, please let me know. I am well aware that politicians have embraced these false numbers, as it reduces the amount of contributions they need to make each year to public-pension funds. But it also kicks the can down the road, creating an even bigger hole in future budgets. At this stage, I shouldn't be surprised at irrational policies from innumerate politicians -- but I am. Regardless, this is a trend that bears watching. The top funds in each category of alternative investment -- venture capital, private equity and hedge funds -- likely have little to fear. The remaining 90 percent of the players in this space should pay close attention. Some changes might be coming." (read more at link above)


Monday, August 4, 2014

Sacks of Cash, Calpers, Pay-to-Play, California Pensions

Sacks of Cash, Wedding Funding the Pay in Calpers ‘Pay-to-Play’ - MoneyBeat - WSJ: ".... The cash bribes were among the new details about the long-running case revealed as part of a new plea agreement with U.S. prosecutors. Mr. Buenrostro and Mr. Villalobos were charged last year with a conspiracy to fabricate documents that duped Apollo into paying millions to Mr. Villalobos’s firm. The case highlights the sometimes-murky role of so-called “placement agents” such as Mr. Villalobos who collect fees from private-equity firms, hedge funds and other investment firms eager to manage pension funds’ money. Mr. Buenrostro is the highest profile former public official to plead guilty to pay-to-play charges since 2010, when former New York state comptroller Alan Hevesi admitted that he traded access to the state pension plan in exchange for personal gain. The former Calpers CEO said in the plea agreement he accepted the $200,000 in three installments while meeting at a hotel across from the state capital building in downtown Sacramento. He also let Mr. Villalobos pay for his November 2004 wedding, stays at two Nevada casinos and business trips to Dubai, Hong Kong and Macau, according to the documents..." (read more at the link above)