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  • Back-Door Taxes Hit Americans With Public Financing in the Dark

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    Peter Robison, Pat Wechsler and Martin Z. Braun
    Bloomberg
    October 26, 2009

    • A d v e r t i s e m e n t
    • efoods
    Salvatore Calvanese, the treasurer of Springfield, Massachusetts, for four years, had a ready defense for why he risked $14 million of taxpayer money on collateralized-debt obligations laden with subprime mortgages in 2007.

    He didn’t know what he was buying, he says, and trusted the financial professionals who sold them and told him they were safe.

    “I thought they were money markets that were just paying more,” Calvanese said in an interview. “Nobody ever used the term ‘CDO,’ and I am not sure I would have known what that was anyway.”

    Such financial mistakes, often enabled by public officials’ lack of disclosure and accountability for almost 90 percent of government financings in the $2.8 trillion municipal bond market, are costing U.S. taxpayers as much as $6 billion a year, according to data compiled by Bloomberg in more than a dozen states.

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    44 Responses to “Back-Door Taxes Hit Americans With Public Financing in the Dark”

    1. arwijn Says:

      Yes, that’s all we need in this Debt Black Hole… mistakes

      kj Reply:

      The amazing thing is dumb assholes like this get to just say sorry I make a mistake that cost you $14 million, I was tricked and they get to keep their job. Hell if the guy down at the local grocery store makes $50 mistake he loses his job. And Im sure he gets a theft charge also.

      todd Reply:

      so true. Possibly because he’s more important then the average no skilled worker at the grocerty store who can easily be replaced. Doesn’t make it right though.

      Then again the best defence is ignorance. At least you can lie and say you didn’t know you were doing anything wrong. That’s the technique I use, anyone who questions me is a conspiracy theorist. LOL

      Robert Lane Aiassa Reply:

      Robert Lane Aiassa Reply:

      October 30th, 2009 at 4:26 pm

      Simple Words…

      THE NEW IMMIGRATION TAX REFORM:

      (If) Your appying for an american citizenship. Immigration Tax Reform. TAXES. A Program or people want into live in america.

      (Pay your own way).

      This tax policy will give programs for the people and workers visa; their “own” programs w/o cause and effect to debackel to american tax payers.

      Putting People First, and Equality Of Human Life!

      It will create revenue for new jobs!

      end of report.

      Electronically Signed. Robert Lane Aiassa (R) Republic Of The Federalist Communist Party. 10/30/2009

      Robert Lane Aiassa Reply:

      Robert Lane Aiassa Reply:

      October 30th, 2009 at 4:26 pm

      Simple Words…

      THE NEW Health Care policy.
      TAX REFORM:

      THE FAIR FEDERAL MININUM WAGE LAWS:

      This tax policy will give programs for the people and workers. Their “ownership” of state and federal programs.

      Thus, w/o cause and effect to debackel to american tax payers. This will work as a tax accredited system to redistribute the wealth, collects interests; and it will stand to abolish HMO’s from imopsing on health bill of rights. (1995)

      Putting People First, and Equality Of Human Life!

      It will create revenue for new jobs!

      end of report.

      Electronically Signed. Robert Lane Aiassa (R) Republic Of The Federalist Communist Party. 10/30/2009

    2. keenl Says:

      wow

    3. ramaytush Says:

      birkaw!

    4. will Says:

      Tax dollars should ne be invested into the Stock Market or other retarded investments. This guy should be fired then sued.

      roaddog6 Reply:

      invested in the stock market?? what, so they can steal even more?

    5. ctyank76 Says:

      he probably stole more, springfield is a sespool town, crack everywhere and no future

      zeebob Reply:

      It’s a shame, because I grew up there and lived there until I was 38. When i was a kid you could take a bus and go downtown with no fear of being mugged or whatever other crap. Sad; there is such rich history there. My wife is a direct descendent of Deacon Samuel Chapin, the famous pilgrim statue of him stands at the quadrangle.

      joe m Reply:

      Chapin was a Puritan, not a Pilgrim.

    6. will Says:

      ne be means never been

    7. will Says:

      Impeach Obama

      lovinglife Reply:

      A cannon should have blasted Bush and his albino “Chimpanzees” for getting america in this situation. When are the republican’s going to admit they screwed americans with there lies, stealing and cheating ways… it’s all coming to light now huh!!! Banking… Housing market and the list goes on. A lie doesn’t live for ever and I also believe the DEVIL will show his face.

    8. www.creditambassador.com Says:

      “I’m not saying I’m gonna change the world, but I guarantee that I will spark the brain that will change the world.”

      I say each person takes the time and pick up there cell phone or what ever and starts calling there family, friends and people 1 by 1 to try to awake them to the truths, If you cant take that type of simple action, then your really not doing anything.
      I personally do it myself daily, people needing help escaping the credit problems so they can afford to live, so they can afford to keep family safe for future, they come to me for help, I teach every single day for FREE by appointments, it nice to know i have job that give me freedom to open minds and help people with REAL issue like credit, and the financial traps the banks try to put us in, credit is something NO American has ever learned in high school or college!
      It not anyone’s fault expect our own for not being willing to accept what we don’t know and our willingness to learn, we do have some rights left, especially against the for profit credit bureaus that work for the banks, and in today’s credit driven society it about making them work for you instead of against you, it just system, you either let it control your life or you take control of the system!

      If you need help with anything credit, finance, related don’t be afraid to check out our website or blog videos on FREE credit education, we rather teach you there tricks so they cant trick you.
      http://www.creditambassador.com

    9. Joe Says:

      Watch for free:

      Fall Of The Republic, Obama Deception, Endgame, Terror Storm, Loose Change, Aaron Russo’s Famous Interview (Must See), Citizen Investigation Team, Fabled Enemies, 911 Blueprint For Truth, and others all in full-length at my website.

      http://www.joemarquis.com/videos.htm

      I still encourage each and everyone to purchase the DVD’s to help keep the fight going.

    10. Ben Says:

      Taxation has always been theft and nothing else. If tax money was not destined for crooks, it would not be raised intrusively. Simply divide the real state budget by the number of workers and ask each one to pay that same amount. No more intrusion, and no making someone else pay more because he’s richer than you. What allows to know how much he owns? And officials won’t raise the amount without good reason, because it would anger all the lower-income people who make up the largest share of the electorate. No simpler or more honest system can be. Taxation on percentage is criminal because it is intrusive. Intrusive taxation is intrusive government. Intrusive government is FEMA camps.

      Pack a gun and pay no tax.

    11. Ram Emmanuelle Says:

      Don’t shoot me! I’m just the piano player!

      roaddog6 Reply:

      we hate piano music

      Merrie Reply:

      Maybe it’s Mabeline! LOL MCB

    12. Mac-101 Says:

      Worse, he probably got some little kickback for a G or TWO, now the tax payers lost 14 million. He needs the Martha Strewad TAX Security treatment.

    13. Arnold Ziffel Says:

      Pay all taxes with promissory notes.

    14. SATANISM EXPOSED!!!! Says:

      WARNING!!!

      YOU ALREADY GUESED IT, AND ITS RIGHT IN FRONT OF YOUR EYES!!!

      THE NEW WORLD ORDER IS NOT JUST ABOUT THE MONEY (MONEY POWER)!!! IT WILL USE THE MONEY TO CARRY OUT SATANISM!!!
      THE NWO IS ALL ABOUT SATANISM!!!!!!!!!!

      - Funding the war is satanism
      - Geert Wilders (member of the ‘Party for freedom’ PVV, Netherlands) his movie FITNA is a direct treath (FROM SATANISTS!) to Islam (GOD)
      - Satanist are mis-using (or going by) good groups (that have names such as ‘Party for Freedom’, Christian Party, Christian..) [to get your support and turn us each other in a fight]
      - United Nation’s Agenda 21 is satanism (calls for a termination of humanity and life by 85% youtube.com/watch?v=o5cgOkwW23Y)
      - 9/11 WAS DIRECTLY SPONSORED BY SATANISTS (A RITUAL)
      - Voting Yes to the LISBON TREATY, is saying “YES” to satanism (giving it power)
      - “Yes we can” = “Thank you satan” (Test yourselve: Play recorded voice afterwards)
      - The satanists are laughing at us (example Bush was making jokes out of Weapons of mass destructions), making fun of it and it gives them the needed negative power.
      - and so on

      The illimunati and Freemasons are Satanists.

      AL-CIA-DA EXPOSED (The hiding secret part 18, Dutch, includes English video’s)
      http://www.youtube.com/watch?v=gmZ8h2WtZL0

      United Nations Wants To Regulate Free Speech Of Every Nation
      youtube.com/watch?v=Uadgk2kveRU

      Lynn Reply:

      You may sound like a nut but you are right on the money. Most people don’t realize that 9-11 was a satanic ritual sacrifice. Satanists gain power over the masses through deception and through blood sacrifices of those deceived as in ALL wars, ‘terrorism” acts and abortion. Abortion is the Biblical equivalent of sacrificing one’s children to Molech.

      Mad Hatter Reply:

      I’ve been wondering about the abortion and moleck thing. It isn’t so much the moleck as satan coming up with ways to kill babies.

      Dau: Dad I got pregnant by the goat herder down the road.
      Fath: Well you make sure when it is born to go to the temple of Moleck,(choose one of):

      I’ve already got to many mouths to feed.
      Our crops need baby blood myuhahaha.
      I told you about goat herders
      etc.

      Mad Hatter Reply:

      You are crazy and almost completely correct. Wait until people realize that human children are being cannibalized by CPS.

      Mad Hatter Reply:

      Not really.

    15. william Says:

      better find a place to go to hide they will be looking for you

    16. **INFIDEL** Says:

      I would’nt suggest knocking on my door, and they better be able to read simple english, as the warnings are clear and In plain sight….

      Mad Hatter Reply:

      mine aren’t, there in spanish and chinese.

    17. Jaro Says:

      October 9 2009 at 10:04 -10:32 I spotted a strange cloud formation (a circular cloud )

      I proceeded to take over 50 pictures and decided to make a small video on what I had seen ! I had noticed while making the video that there was another strange cloud seen above moscow on the same day !

      http://www.youtube.com/watch?v=ZjuI_5N9sqQ

      AbuBakerSmith Reply:

      It is one of the SIGNS and WONDERS spoken of in the BIBLE. Proof Obama IS leading us into the Tribulation Slaughter.

      Mad Hatter Reply:

      Wow that really looks circular from your perspective! which of course means it isn’t circular in fact… Damn cool photos though, thanks for sharing them.

    18. AbuBakerSmith Says:

      The Federal Reserve needs your money.

      Ben Reply:

      Why? It can print its own.

      Mad Hatter Reply:

      I thought they claim it s their money anyway?? now I’m confused (bang)

    19. Lynn Says:

      Oh, that My people would listen to Me, And walk in My ways! I would soon subdue their enemies, And turn My hand against their adversaries. Psalm 81:13,14

      Mad Hatter Reply:

      Amen that is true.

    20. Lynn Says:

      Do NOT gather my soul with sinners, Nor my life with bloodthirsty men, in whose hands is a sinister scheme, and whose right hand is full OF bribes. (Sorry, my phone was ringing and I typed too fast).

      Mad Hatter Reply:

      That is not logical – Spock. (backspace? you were able to tell us you messed up which meant you hadn’t posted. Oh I get it! You were driving too! I see that alot lately…

    21. truther Says:

      I have an urgent message for you, more important than any message you can hear. God is Holy and cannot accept sin(honor thy mother and father…, thou shall not kill, thou shall not commit adultery, thou shall not steal, thou shall not bear false witness against thy neighbor, thou shall not covet..etc…Exodus 20:12-17). Here are some verses that show examples of sin:

      “Ye have heard that it was said of them of old time, Thou shalt not kill; and whosoever shall kill shall be in danger of the judgment: But I say unto you, That whosoever is angry with his brother without a cause shall be in danger of the judgment: and whosoever shall say to his brother, Raca, shall be in danger of the council: but whosoever shall say, Thou fool, shall be in danger of hell fire.” Matthew 5:21-22

      “Ye have heard that it was said by them of old time, Thou shalt not commit adultery: But I say unto you, That whosoever looketh on a woman to lust after her hath committed adultery with her already in his heart.” Matthew 5:27-28

      “It hath been said, Whosoever shall put away his wife, let him give her a writing of divorcement: But I say unto you, That whosoever shall put away his wife, saving for the cause of fornication, causeth her to commit adultery: and whosoever shall marry her that is divorced committeth adultery.” Matthew 5:31-32

      “For ALL have sinned, and come short of the glory of God;” Romans 3:23. Your good deeds cannot cover up your bad deeds.

      “But we are all as an unclean thing, and all our righteousnesses are as filthy rags; and we all do fade as a leaf; and our iniquities, like the wind, have taken us away.” Isaiah 64:6

      “As it is written, There is none righteous, no, not one: There is none that understandeth, there is none that seeketh after God. They are all gone out of the way, they are together become unprofitable; there is none that doeth good, no, not one.” Romans 3:10-12

      You could be perfect in all the law and stumble at one point and it is as if you broke all of them:

      “For whosoever shall keep the whole law, and yet offend in one point, he is guilty of all.” James 2:10

      “Therefore to him that knoweth to do good, and doeth it not, to him it is sin.” James 4:17

      God wrote the law on each man’s heart so they are without excuse on judgment day when we will ALL stand before Christ(”Which shew the work of the law written in their hearts, their conscience also bearing witness, and their thoughts the mean while accusing or else excusing one another” Romans 2:15). The penalty of sin is death and eternal punishment in the LAKE OF FIRE. I am warning you about hell because I love you! You are dead in your sins and headed for hell which is described in the Word as a FIRE THAT QUENCHES NOT(”…the fire is not quenched” Mark 9:44). It is a horrible and terrible place of everlasting torment that people will go because of their sins.

      “And it came to pass, that the beggar died, and was carried by the angels into Abraham’s bosom: the rich man also died, and was buried; And in hell he lift up his eyes, being in torments, and seeth Abraham afar off, and Lazarus in his bosom. And he cried and said, Father Abraham, have mercy on me, and send Lazarus, that he may dip the tip of his finger in water, and cool my tongue; for I am tormented in this flame.” Luke 16:22-24

      “In flaming fire taking vengeance on them that know not God, and that obey not the gospel of our Lord Jesus Christ: Who shall be punished with everlasting destruction from the presence of the Lord, and from the glory of his power;” 2 Thessalonians 1:8-9

      But God has provided a way for each to escape the lake of fire. He sent his Son Jesus(God manifest in the flesh-1 Timothy 3:16) who was conceived by a virgin by the Holy Spirit of God,lived a sinless life, and suffered a horrible death/shed blood and rose again 3 days later to take the penalty of YOUR sins so you dont have to pay for them in hell for eternity! He loved you so much which is why he did it! He is the only one to have fufilled the law perfectly(sinless) and paid the price of the entire world’s sins so that man could be saved on the merits of His perfection(see Romans 5:19). All you must do to be saved is BELIEVE in Him(trust in Him to save you as a sinner). You must admit your lost sinful condition to Him/that you’re worthy of hell, and ask Him to save you by placing complete trust in Jesus ALONE for salvation(an example in the Word of someone doing this- “And the publican, standing afar off, would not lift up so much as his eyes unto heaven, but smote upon his breast, saying, God be merciful to me a sinner.” Luke 18:13).It is not even partly by yourselves that you can be saved, but only by the merits of Jesus Christ!

      “For God so loved the world, He sent his only Begotten Son, that whosoever believeth in Him shall not perish, but have everlasting life” John 3:16.

      “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world” 1 John 2:2

      “…Unto him that loved us, and washed us from our sins in his own blood,” Revelation 1:5

      “For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures; And that he was buried, and that he rose again the third day according to the scriptures:” 1 Corinthians 15:3-4

      “Then he called for a light, and sprang in, and came trembling, and fell down before Paul and Silas, And brought them out, and said, Sirs, what must I do to be saved? And they said, Believe on the Lord Jesus Christ, and thou shalt be saved, and thy house.” Acts 16:29-31

      “But to him that worketh not, but believeth on him that justifieth the ungodly, his faith is counted for righteousness.” Romans 4:5

      “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” Romans 10:9-10

      No works or anything you do can save you! May God open your eyes, that one day I may see you in heaven. Read the Word of God(the 1611 King James version- NOT the modern versions, they are corrupt) before rejecting it! Death is fleeting. You may NOT have tomorrow! For death comes when we least expect it! Make sure you are saved TODAY! The Bible condemns the rich, the wealthy, and those who take advantage of the poor, so it CANNOT have been made up by the elite. Because the Word clearly CONDEMNS people such as those! It declares all mankind as sinners(myself included).

      I am a Christian, and love you enough to warn you of the dangers of hell. Beware, the Roman catholic church is NOT Christian! The church CANNOT save you but only Christ! Just because someone says they are a Christian does not necessarily mean they are one(remember the crusades in history? Many were murdered in the name of Christianity. These were no Christians at all by their testimony). Please email me to inquire more. I would be glad to help you out in your search for truth!(my email- livingwaters705@hotmail.com)…To those who slander/mock me, I pray for you and love you anyways and hope you will trust Christ before its too late!

      I call upon my fellow Christians on here to return hate posts with love and blessings. The Lord commands us to love them:

      “Ye have heard that it hath been said, Thou shalt love thy neighbour, and hate thine enemy. But I say unto you, Love your enemies, bless them that curse you, do good to them that hate you, and pray for them which despitefully use you, and persecute you; That ye may be the children of your Father which is in heaven: for he maketh his sun to rise on the evil and on the good, and sendeth rain on the just and on the unjust.” Matthew 5:43-45

      Salvation is not found in good works, rituals, church, the pope, water baptism, good lives, etc….But ONLY found by faith in Jesus Christ the Savior!

      If you need prayer or anything, just let me know! I would be glad to help! I love and care for you, and I have prayed that every person that reads this who do not know the Lord, would one day turn to Christ in faith for salvation for their sins. I beg you to turn to Christ in faith before it is too late! You get ONE chance while living and then it is too late forever:

      “And as it is appointed unto men once to die, but after this the judgment:” Hebrews 9:27

      “And ye shall know the truth, and the truth shall make you free.” John 8:32

      “Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.” John 14:6

      “…there is no God else beside me; a just God and a Saviour; there is none beside me. Look unto me, and be ye saved, all the ends of the earth: for I am God, and there is none else.” Isaiah 45:21-22

      “And the Spirit and the bride say, Come. And let him that heareth say, Come. And let him that is athirst come. And whosoever will, let him take the water of life freely.” Revelation 22:17….

      Mad Hatter Reply:

      You know dumbass, alot of people might actually read your message if it wasn’t 15,000 words. GO read some Voltaire oaf.

      Mad Hatter Reply:

      I’m sorry I should not have called you a dumbass. But you are being disrespectful of others by posting such a huge post, and off topic at that for the most part.