For that reason, he was trying to sell his stock, but the board of Directors lent him $341 million, along with 2% interest rate. On the other hand, as he never sold his WorldCom stock, which was a showed that he was unaware of the fraud of financial statements and accurate position of WorldCom. 2. If the fraud had not been detected when it was, how long do you think it might have continued and how would it have ultimately been revealed? If the fraud has not been detected that it might have been gone 10- 20 years undetected.
The Watergate Scandal changed the culture of American civilians. Lastly, the Watergate Scandal forced the political system change its ethical code. The Federal Bureau of Investigation (FBI) had been investigating the Watergate burglary for less than a month, when Nixon ordered the Central Intelligence Agency (CIA) to shut down the investigation. Despite this being an obstruction of justice and an impeachable crime, the Watergate investigation did not reach much publicity, which is why it was so radical for amateur Washington Post journalists Carl Bernstein and Bob Woodward to continue the investigation. With the help of former FBI agent Mark Felt— then known as “Deep Throat”—, Woodward and Bernstein discovered money given to Nixon’s re-election campaign that
CEOs efforts are also appreciated and rewarded through indirect compensation through social security enhancers that will boost the CEO’s desire to steer a firm towards success. In addition, offering a proportion of a firm stake to the CEO is a form of compensation approach that grants the CEOs the opportunity of buy stakes of a firm they head to boost their commitment to the success of a firm (Heskett, Sasser & Schlesinger, 2015). Compensation of the CEOs based on varied approaches is vital to a firm’s
In 1991, Goulder filed a claim under § 731(a) for the refund of $36,228.90 of the tax paid for the gain on the sale of building. He stated that because there wasn 't a continuation of the business, financial operation, or venture for the partnership in 1981 under §761, the partnership interest was terminated and liquidated in 1980. In the end, the estate prevail IRS. In other words, deceased partner 's estate could deduct loss arising from partnership 's liquidation in 1980 when the year assets were distributed under §
“Campaign finance laws were enacted. Ford's Rockefeller Commission, which conducted a limited review of domestic CIA operations, was overtaken by the much more aggressive Church Committee and other post-Watergate Congressional investigation”(Watergate). All the reforms were good for the country but there is still a sense of lack of faith or no faith in the government. (PBS). One positive about the Watergate scandal is that the government showed that even when a president does the impossible like a Saturday Night Massacre when he fired everyone that was important to the trial, that he is still going to get caught.
(Washington Post). The white man has been ruling the country for centuries while creating inferiority. Many corporations may see mass incarceration as an incentive or profitable, but its a troubling solution to a bigger problem we need to recognize as a whole. When you control what people see eventually you can control or predict their actions. Degrading black men and stripping their rights and civil leaders was the first step in this Law & Order Agenda.
The US notes 1.8 video mainly focused on the change that occurred during the progressive era, and why it was so important. It described the difference between Gilded Age presidents, that employed laissez-faire, and the progressive presidents. During the Gilded Age, the government left supporting the economy to companies. The government usually stayed out of economic issues, except when labor unions threatened companies, where the government supported the companies over the workers. During this period, corruption was also a major issue because of the spoils system that was in place.
However, it was not until Secretary Fall encouraged Navy Secrtary Edwin Denby to cede control in 1922 that the reserved came under Fall's purview. Several months later, Fall leased the reserves to two large oil corporations without competive bidding (as was acceptable under the Mineral Leasing Act of 1920). Favorable to the oil companies, the leases themselves were not illegal, but financial considerations (totaling nearly $7 million today) that were granted to Secretary Fall violated the law. As is standard in the cycle of a scadal, the impropriety did not become a public matter until April of 1922, when a letter from a Wyoming oil operator alleging secret deals in the land transfer reached the desk of Senator John B. Kendrick (D-Wyoming). Two days later, Kendrick filed a resolution to empanel a committee to
The fee of $ 550 million was as meagre as letting go of a two week profit for them. Even though it was the largest ever fee collected from the Wall Street, for Goldman Sachs it was just a soft pinch. The U.S. Treasury was to get $300 million and the remaining to those who had suffered due to the Abacus deal. There is a need for financial regulations which expose the derivative markets. The taxpayers need to be safeguarded against having to fund potential bail outs of banks and there needs to be transparency in the dealings of financial intermediaries.
The World Trade Center was a government owned building until July 24th, 2001, when Silverstein acquired the leasehold of it. The deal was worth 3.2 billion dollars and one of the lease obligations was that he was required to rebuild the World Trade Center in case the buildings were demolished. He immediately drew up new insurance polices for the buildings and changed the standard policy on them and inserted a new clause insuring the buildings against terrorist attacks similar to the one that happened on 9/11. This is the reason why many speculate that he had prior knowledge to seize the opportunity and buy the first private lease on the World Trade Center. In the aftermath of 9/11, Silverstein put in a claim 7.1 billions but was awarded 4.5 billion in insurance
Prosecutors also say that he was engaged in a scheme to conceal his earnings that amounted to millions of dollars from the IRS. They reported that DMX received millions from the songs he produced. He was able to avoid paying his taxes by creating accounts under different names and often paid large amounts of his expenses in cash. DMX planned on evading his taxes by not setting up any personal bank accounts. According to U.S. Attorney, Joon H. Kim, DMX even declined to tape the TV show, Celebrity Couples Therapy until they issued him a check without withholding taxes.
Their lobby spends money on direct lobbying to candidates, campaign contributions, and in assisting in drafting legislation. The result of these efforts has led to laws such as the three-strike rule in California, anti-illegal immigration legislation, and increased immigration enforcement (Cohen 2015). These policies are inherently malicious and most harmful to minorities while attempting to keep as many people in prison as possible in a bid to generate more revenue to keep their shareholders happy. As such, the elimination of private prisons would effectively destroy their lobby, removing their influence over legislation that feeds off racial