“Touro University International” Jannie Harp ETH 501 MOD 1 Martha Stewart Professor: Dr. Steven Gold Martha Stewart handled the indictment improperly, because she knew she would have lost 51,222 dollars. Martha Stewart gained approximately 228,000 dollars from the information obtain from Peter Bacanovic. (Martha Watch) Martha Stewart being a member of the Board of Governors knew the laws of trading. Stewart holds a Series 7 license as a licensed stockbroker; she knew her actions may have well been illegal. She's not just some innocent who made a mistake or wanted to save her investment.
Memo: Cynthia Thomas 2008 Tax Return Audit Deduction for Business Expenses on Personal Tax Return Ms. Cynthia Thomas is the President and sole shareholder of Violet Corporation. Violet Corporation is a calendar year taxpayer, who unfortunately over the past year has fallen into a precarious financial position. Ms. Thomas incurred $9,500 of business expenditures for travel, entertainment, and promotion on behalf of Violet Corporation. Ms. Thomas decided not to get reimbursed for these expenses and instead decided to deduct them on her own personal tax return (1040). Ms. Thomas was unfortunately audited in 2008 by the Internal Revenue Service, and they found that these deductions were disallowed.
I will be looking at sources to see if this was true. Source 1 states that this may be true for some people but not others. It was good for businessmen, speculators, retiring company directors. For them the source agrees that they never had it so good. However the source goes on to criticise the statement saying that it isn’t good for “widowed mother with children, the chronic sick, 400,000 unemployed and millions of pensioners without pensions.” Therefore I can infer that the source doesn’t agree with the statement as it states that there is a clear majority of people who don’t benefit within this time period, mainly the people who are benefitting are from the upper classes.
These institutions borrowed billions of dollars to purchase companies they weren’t experts in, allowed no money down mortgages, and used financial devices to calculate exactly how much they could lose if things went wrong so they needed little money on hand in reserve. However, in 2007 and 2008 when interest rates began to rise, asset prices fell, and borrowers couldn’t pay off debts the “Dumb Money era” crashed and burned and took the American economy down with it. The government and taxpayers are now responsible for paying off the $700 billion bank and financial institution bailout, along with many companies needing to shut down and lay off thousands of workers as well. Alan Greenspan appeared before congress in 2009 to discuss that after reevaluating his theories on which the “Dumb Money” era was based on (low interest rates, unregulated markets, and the ability to use debt instruments to manage risk) he found an error in his judgment. Gross believes that if we continue to listen to people like Alan Greenspan, another “Dumb Money” age may
The problem with this lies in that others may commit fraud or continue to commit fraud because they know the company won’t prosecute. Law enforcement officials could make it a law that companies have to come forward when they are aware of fraud and prosecute the perpetrator. Another thing that can be done, since companies are afraid of this being public, law enforcement can make it more private. If employees know this is implemented, then they will be less likely to commit
If you were single you got five shillings a week and seven and a half if you were married. It was good that the old were getting money but the money they received was not enough as it was below 2 shillings below the poverty line. The payments were received through the post office and on the first one the old ladies were crying outside saying “god bless that Lloyd George”. More people claimed the pensions as you got them at the post office which meant you were not classed as poor if you went to the post office unlike if you went to the workhouse. It cost a lot more then the government expected they thought it would cost 6.5 millions but it cost 8 million in the first year.
It uses Public money unnecessarily and is unfair to taxpayers. It makes financial reform going forward much more difficult. Protecting the markets for derivative products like CDOs and CDSs allows for a repeat of the risky practices that got us into the current crisis. And finally, by guaranteeing the corporate existence of large banks, we are maintaining their power and priorities and thus are not likely to see gains on predatory lending, foreclosure abuse, and other areas where reform is sorely needed. If we want to help the people who are suffering in this crisis and recession, then we should make financial policies with them directly in mind.
The shutdown happened because our leaders failed to come to a compromise on how to spend our tax dollars. So instead of taking any means necessary to allow for the prosperity and well-being of their country, Republicans just sat on a pile of undistributed money and played the waiting game. Thankfully, Congress made a deal and got the economy back on its bumpy track. If Congress had failed to do so, however, the effects would have been catastrophic. The value of the dollar would be pennies, millions of people out of work, and the US missing a debt interest payment for the first time.
Some workers may stay temporarily with relatives with bank accounts and good credit, but the family network is aware that income is not reliable in America. Thus, it would be too risky for relatives to co-sign loans, credit cards, or bank accounts. In addition, relatives feel that by offering assistance in the form of room, board, and transportation is more than generous. The family unit is central in the Hispanic community, so it is not uncommon for residents to assist undocumented family members and friends. If it were not for the family unit, then I do not believe that undocumented workers could possibly handle the costs associated with cash lender services.
“Money isn’t everything”, it’s all something we have heard before but is that really true? Sometimes it’s hard to tell, sure people say as long as they have the love of their family and a moderately good life they are happy, but with all the crime in this world it seems that the statement is quite contradictory. Dick and Perry’s motives were clear in the Clutter Murders; they had wanted the money they had so they could secure what most people need in order to be successful in this world, financial stability. Though out the book this idea of financial stability keeps returning to show how far people are willing to go just for money. The Clutters were quite lucky when they were still alive if you think about it.