It looks as though the Republicans will focus on 3 things while running for office this fall:
1) Blaming Obama for the economic crisis that they have created under Bush/Cheney — including the jobs which our corporations have been shipping overseas.
2) Cutting taxes for the super rich upper 2% which would largely cover our budget deficits, e.g. the WalMart estate alone would do the extension of unemployment benefits.
3) None too covertly playing the racist game of blaming the shortage of jobs on Latinos and African Americans — those who are actually suffering the most from our weak economy!
So far as their own solutions to these problems, one will hear little or nothing from Republicans. Theirs is the attack mode which Obama has faced constantly while trying to unify the nation in the face of real threats — economics, terrorists, and a couple of nations intimating nuclear attacks on us and ours — North Korea and Iran. A nation so divided is an easy target for hostile support from here, there and elsewhere.
I could document all of the above extensively. Unhappily the really cruel facts are rarely covered by the major sources of information for most busy Americans — TV and radio chains largely owned and operated by our super rich. The recent attack on Shirley Sherrod was manifestly racist and launched by a known to be right wing lying political hack — and jumped on by our media which should have sought facts rather than ratings as their goal. I appreciate CNN spending much time setting the record straight. But I suspect we shall see more of this sort of stuff. People tend to believe what they see on TV and racism is easy to promote.
And so it will go. Can the Democrats take on this c–p and get the message out to the general public how they are being had and the risks to them of Republican victories? Remember, the Supreme Court has authorized corporations to spend whatever they want on candidates and they are the ones with the big money and greedy profit motives.
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“A war is just if there is no alternative, and the resort to arms is legitimate if they represent your last hope.” (Livy cited by Machiavelli)
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Ed Kent [blind copies]
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Follow-up comment rss or Leave a TrackbackIf Obama would do his work and stop adding to the supposed racial incidents we might be a bit better off. All he does is run around on vacations and dates with his wife. Also, I read where the family dog was flown on a jet of his own to meet the family on vacation. This man is a joke.
Congressman Gary Ackerman’s good friends, the Zises Brothers, will sue near 200,000 Americans this year for credit card default using the trade name “Unifund” registered with the Ohio Secretary of State (The trademark documents are available on-line and free.) Since the trademark “Unifund” is owned by a partnership, Credit Card Receivables Fund and ZB Limited Partnership, proceed checks to “Unifund” can be deposited into an account at the Israeli Discount Bank (IDB) for ZB Limited Partnership and/or Credit Card Receivables Fund without being declared as income for Unifund CCR Partners (…hey State of Ohio, I think you will want your cut). My guess is that it is about a 90% skim.
The Zises Brothers doing this skim are the same Zises Brothers of Integrated Resources; a tax shelter scam that went bust some time ago. They are experts is avoiding income tax, and this scam is no different. In most states, Unifund is not registered with the Secretary of State as a tax paying business enterprise. That is because State code specifically excludes the filing of a collection lawsuit from the definition of “doing business”. The legal theory goes along the lines that collection lawsuits are “loss mitigation” and not an inherently profit making enterprise. The IRS has similar rules that the Zises Brothers entities abuse to avoid declaring income.
The Zises Brothers have applied this tax avoiding principle to a business they have where the principle activity is to sue for profit…HUGE profits. Unifund has a contract with Asta Funding dba Palisades Collections to sue people on behalf of Asta Funding for a percentage of the judgment. This contract is for the purchase of bad credit card debit from Citibank and is funded, in part, by the Israeli Discount Bank for nearly $900M. Copies of the contracts can be purchased on-line. Much of it is available in publicly traded Asta Funding quarterly statements. One of them specifically rewards Unifund with a 50% premium for collecting “outside the Statute of Limitations”. Hey FBI, sounds like a violation of the RICO Act to me.
Now, where does the money go after it gets to ZB Limited Partnership. Well, ZB Limited Partnership at 767 3rd ave NY, NY is registered with the Ohio Secretary of State as a Foreign Corporation (doc available on-line and free) out of Delaware. You can search the Delaware Secretary of State database for legal entities, and you will find scores of filings by the Zises Brothers, including ZB Limited Partnership and Credit Card Receivables Fund, Inc. You will have to pay a fee for a copy of the document. Anyway, ZB Limited Partnership is owned by ZB/CCR Corp. (another account at the IDB). By the way, 31% of the Israeli Discount Bank is owned by the Israeli Government, and has been fined $12M for failing to implement anti-money laundering regulations.
The ZB/CCR Corp filing with the Delaware secretary of State has an interesting mailing address “C/O Forest Hill Capital, 800 Second Ave., New York, NY 10017″. Forest Hill Capital is the old name for Family Management Corp (FMC), another IDB account; the same Zises Brothers company that manages the Congressman’s money. So, now we know where the Unifund skim goes. But, this is where the trail gets very interesting.
Numerous business databases, including Manta, have a company known as Associated Capital, L.P. or A Capital or ACAP at 767 3rd Avenue 16th Floor, NY, NY. That is the same address as ZB Limited Partnership in the Ohio trademark filing (first one). Associated Capital was the single biggest contributor to funds supporting activity against the recently enacted finical and banking reforms. Gary, what sweetheart amendments did you get st save Associated Capital for the Zises Brothers?
It is a sure bet that the single biggest FMC investment is with Associated Capital. Does Associated Capital actually make any money? Or is it principal function to loose money, lots of money, for its clients (such as ZB/CCR Corp.)? If they loose so much, where does it all go? Let me shed a little light on the answer to this question:
“This Schedule 13G is being filed jointly by Associated Capital, L.P., a Delaware limited
partnership (”Associated”), its general partner, A Cap, Inc., a New York Corporation (”A Cap”), Jay H. Zises, the President and a director of A Cap, Selig A. Zises, Vice President, Treasurer and a director of A Cap, Nancy J. Frankel-Zises, a director, Vice President and Secretary and the sole stockholder of A Cap, and Associated Capital Offshore, L.P., a Cayman Islands limited partnership (”Associated Offshore”). Associated, A Cap, Jay H. Zises, Selig A. Zises, Nancy J. Frankel-Zises and Associated Offshore are hereinafter sometime referred to collectively as the
“Reporting Persons”. The business address of Associated Offshore is c/o Goldman Sachs(Cayman) Trust, Limited, P.O. Box 896, George Town, Grand Cayman, Cayman Islands, British West Indies. The business address of each other Reporting Person is 477 Madison Avenue, 14th Floor, New York, New York, 10022. Jay H. Zises, Selig A. Zises and Nancy J. Frankel-Zises are each United States citizens.”
I find it very interesting that the Israeli Discount Bank on 5th avenue in New Youk has semi-autonomous branches in Zurich Switzerland, Uruguay, Brazil, Chile and the Cayman Islands. Congressman Gary Ackerman, did you “loose” any money with FMC?
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