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Grilled about Cayman Investments, Jack Lew Chooses the I’m-a-Moron Defense

JiminGA Wrote: Feb 16, 2013 7:14 AM
Another low information poster. Do you have a 401K or IRA? Some of your money is in the Caymans. Do you have a life or auto insurance policy? Some of your money is in the Caymans. Do you have a credit card from a big bank? Some of your money is in the Caymans. Only a fool thinks money stops at a nation's borders.
ellykaye Wrote: Feb 16, 2013 7:56 PM
Most people probably don't know that, and on the auto insurance, probably, it is not my direct investment, and as to my credit card, that is the bank, I have no "cash invested", I just make payments for what I bought, and I paid taxes when I bought it, thank you. I am just a poor old lady trying to get by on S.S., so more power to those fortunate enough to have money to invest in other business. If a lot of our elected officials from the top down were investigated, I think we would find that most of them invest their money in off shore investments, it just is not public, but for the liberals, that is okay, but not okay for Mitt Romney or other conversatives. You know their dumb double standard/
comsense08 Wrote: Feb 16, 2013 9:40 AM
And there is nothing illegal about it. Most people don't ever stop to answer the question why so many American companies are global. Duh!

Every so often, you get a “teaching moment” in Washington, and we now have an excellent opportunity to educate lawmakers about the “offshore” world because President Obama’s nominee to be Treasury Secretary has been caught with his hand in the tax haven cookie jar.

Mr. Lew not only invested some of his own money in a Cayman-based fund, he also was in charge of a Citi Bank division that had over 100 Cayman-domiciled funds.

As you can imagine, Republicans are having some fun with this issue.


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