Friday, January 23, 2009

Senate Finance Committee Continues Bush Corporafornication

CNBC reported the Senate Finance Committee will vote on a stimulus package including tax benefits for corporations repurchasing their debt. It truly is the golden age for private equity underwriters (PEU's)! Not only can PEU affiliates buy back debt for pennies on the dollar, they get a tax break to boot. This gift comes on top of bonus depreciation and the five year loss carryback, expected to save businesses $23.5 billion in taxes.

Watch global financial system reform. The World Economic Forum study was co-chaired by David Rubenstein of The Carlyle Group. His partner? John Thain of the $1.2 million taxpayer funded office refurbishment, complete with a legged commode at over $30,000. Watch where Mr. Thain lands.

Note the blue team's ability to corporafornicate. It didn't end with Bush's chopper depositing him in Midland, Texas. Dirty Max Baucus hold the Senate reigns for health care reform. Expect private for-profit health care companies to win mightily. By the way, Max accepts donations from 8 for-profit firms with no facilities in his state. What are they buying?