I just heard about the Clinton's Cayman Island accounts ...

[Hieronymus]

http://news.yahoo.com/s/bloomberg/20071217/pl_bloomberg/aiqevoq5nt5e

This could certainly cause problems in the Hillary campaign.

[Joe the Revelator]

1. oops

:rofl:

[flvegan]

2. Uh oh

:popcorn:

[1corona4u]

3. John has them there too, doesn't he?

I heard he did. Seriously. That's why Obama mentioned the Cayman Islands in the last debate....that's what I was told.

[Hieronymus]

7. Post any information you have that indicate that Edwards ..

has Cayman Accounts.

[1corona4u]

11. I didn't say I had it, I said that's what I was told......

I can not reach the person who told me that, at this red-hot second, but I have sent an email, asking for information. In the meantime, here is a simple search on Google;


http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=GGLG,GGLG:2007-25,GGLG:en&q=john+edwards+cayman+islands

[DURHAM D]

16. Good God - its right in the article. n/t

[creeksneakers2]

32. It says so in the article linked to in the OP n/t

[Cha]

8. Don't trust US

banks?

[cali]

23. The article also mentions Edwards doing the same thing. n/t

[Cha]

25. That's what I was

responding to.

[cali]

4. This stuff just outrages the hell out of me.

There's no excuse for the Clntons doing this shit. I've criticized Edwards for it, and I feel exactly the same way about the Clintons.

[K Gardner]

5. Tucker is all over it.. won't be the last you hear. n/t

[aquart]

6. Some tax shelter. He pays the taxes.

So now could you explain what the problem is?

I once worked for a Wall Street guy whose job was to hide his clients' millions in offshore and Swiss accounts. When it got really illegal he sent me out for a walk. The point of those accounts was to CONCEAL money from the government.

None of this money is concealed. None of it is untaxed.

What's your problem? Or do you just like saying "offshore accounts"?

[HeraldSquare212]

10. I understand that his income is taxed

but it's the fund that's not taxed, right? So the fund makes more money, and he gets more a payout.

[1corona4u]

17. I don't know, but I have JE's tax return from 2003.....

and in it, he only filed for 305k in income, which included 130K, in dividends. Now, I'm not a math scholar, but seems to me, a man with 40-50 million, in assets, should have had more that 130K in dividends/capital gains.......

Hmmm...I mean, he had assets in 2002, right?

[amandabeech]

26. Taxes on capital gains usually don't accrue until the asset it sold.

If Edwards doesn't sell those assets, he doesn't get taxed.

However, that is a low number, even assuming that the house was paid for in cash.

I would like to see an accounting of the assets, and a description of them as well.

[knight_of_the_star]

44. That doesn't take into account accrued assets though

He had a career before then as a successful litigator, it would not be surprising if the rest of his assets came from years of that plus prudent investing. Now if he had several hundred million that would be another matter.

[Hieronymus]

13. I didn't say "offshore accounts" .. I said Cayman Accounts.

[desi]

33. HELLO !!!!

from YOUR link.

The former president isn't the only person in the campaign with links to funds in the Cayman Islands. Former North Carolina Senator John Edwards, who is also seeking the Democratic nomination, was a senior adviser to Fortress Investment Group Inc., a New York-based private-equity and hedge-fund manager, and reported at least one asset, the Investments Fund III (Fund D) LP, that was incorporated in the Cayman Islands in 2004.

Edwards, who was the first candidate to criticize tax preferences for the private-equity industry, also pays taxes as if the money was earned in the U.S., spokesman Eric Schultz told the Washington Post in May. Schultz said Edwards, 54, ``believes offshore tax shelters are wrong'' and ``will end them'' if elected. The Edwards campaign didn't immediately respond to a request for comment today.

[Hieronymus]

39. You omitted the paragraph following the one you quoted ...

"Edwards, who was the first candidate to criticize tax preferences for the private-equity industry, also pays taxes as if the money was earned in the U.S., spokesman Eric Schultz told the Washington Post in May. Schultz said Edwards, 54, ``believes offshore tax shelters are wrong'' and ``will end them'' if elected. The Edwards campaign didn't immediately respond to a request for comment today."

[desi]

42. You were wrong...

I didn't say "offshore accounts" .. I said Cayman Accounts.

He did have interest/investment in a Cayman Island fund...

plus: The Edwards campaign didn't immediately respond to a request for comment today.

[DURHAM D]

15. aquart - there you go with facts

when emotional foot stomping is so much more fun.

Appears the up-threaders either didn't read the article or didn't understand it.

Frankly, so many here now remind me of Repubs. Tell a lie, make it a big one, repeated it three times and it becomes the truth. Any lie will do in a storm. The bigger it is the more ridiculously emotional you can act. Geez...

[desi]

34. They obviously did not bother to read it...

They had a "Tim Russert 'gotcha' brain fart." Nothing illegal or unethical has been alleged by Bloomberg.

[HeraldSquare212]

9. But Hillary said she'd fix it:

from the linked article:

In 2004, Hillary Clinton, a New York senator, said she wanted to close the ``loopholes'' for ``people who create a mailbox, or a drop, or send one person to sit on the beach in some island paradise and claim that it is their offshore headquarters.''

[LSparkle]

12. MEGA-oops ... the curtain pulls away and we find ...

Hypocrisy!

Considering it's the Caymans, I can't help thinking of Tom Cruise's line from "The Firm" that goes something like this: "If you don't want me to break the law, then how much do you want me to bend it?"

[jenmito]

14. Bill SAID Hillary's the candidate of change-he just didn't make it clear that all that change was

located in the Cayman Islands. Uh oh! :D

[babylonsister]

28. Cha-ching! nt

[Bitwit1234]

18. Oh Well....it has started and the Obama American Idolers are

messing their pants to spread the rumors and the swift boaters. Wonder what the hell they would do if any body dared post the lying shit about Obama that they love to post about Hillary.


they are afraid if the post lies about Obama they will be called racist but they don't care if they post them about Hillary.

And the people make it harder because without even verifiying the crap they start to spread the rumors. I think it is disgusting. It shows low class and lack of character.

[sniffa]

21. do you have avatars turned off?

[babylonsister]

29. "low class and lack of character"

:rofl:

[karynnj]

41. Rather overdone

The Clintons and Edwards HAVE Cayman accounts per their financial statements. They are not illegal - they are a function of a tax code that creates these types of accounts because of loopholes. The problem is that you can't criticize what you take advantage of.

This is not swiftboating.

[Kurt_and_Hunter]

19. OMFG!! This is HUGH!!! These amounts are in the thousands!!!

"Hillary Clinton's Senate financial-disclosure records only say that Bill Clinton's Yucaipa assets were valued at less than $2,002 in 2006, while he received between $1,202 and $3,500 in interest that year. In the 18 months between January 2006 and June 2007, the value of the assets grew to between $1,001 and $15,000, and Bill Clinton received between $6,002 and $17,500 in interest, according to financial records filed in connection with the senator's presidential candidacy.

Bill Clinton has also received ``over $1,000'' a year in ``guaranteed payments to partner'' from Yucaipa Global Holdings and a predecessor fund. The government forms don't require lawmakers to specify an exact amount for spouses."

[Joe the Revelator]

31. So you're saying its ok to be just a little hypocritical?

Your shilling knows no bounds.

[sniffa]

20. is that why Evan Bayh backs her?

:shrug:

[cali]

27. I don't know. If that's the case why doesn't he back Edwards?

the article goes on to say he's done the same thing.

:shrug:

[sniffa]

35. i don't know

but maybe that's the reason he backs HRC.

:shrug:

[cali]

22. So it bothers you that Clinton does it, but it's peachy keen Edwards does.

From the article you posted:

"Fortress

The former president isn't the only person in the campaign with links to funds in the Cayman Islands. Former North Carolina Senator John Edwards, who is also seeking the Democratic nomination, was a senior adviser to Fortress Investment Group Inc., a New York-based private-equity and hedge-fund manager, and reported at least one asset, the Investments Fund III (Fund D) LP, that was incorporated in the Cayman Islands in 2004.

Edwards, who was the first candidate to criticize tax preferences for the private-equity industry, also pays taxes as if the money was earned in the U.S., spokesman Eric Schultz told the Washington Post in May. Schultz said Edwards, 54, ``believes offshore tax shelters are wrong'' and ``will end them'' if elected. The Edwards campaign didn't immediately respond to a request for comment today.

[Hieronymus]

36. Excuse me .. I have never heard anything about Edwards being involved in

the Cayman Islands. You have a rather presumptive attitude, don't you?

[rucky]

37. It's in the article you posted.

I'll edit if you edit.

[Hieronymus]

38. I found it at the end of the article on the Clintons that I posted. I was

referring to a mention on the Tucker show. All it says in the article I posted is that Edwards paid taxes on his .. did Clinton?

[cali]

40. yes. that's also in the article you posted

not to be presumptuous but perhaps you should read the articles you post. The irony of posting this is pretty obvious. JE supporters start from a weak place when it comes to personal finances.

[desi]

43. You really need to read your source...

more carefully. If you had done that, instead of knee-jerked "gotcha," you would not be asking questions that YOUR source has answered.

[TeamJordan23]

24. Wall Street loves the Clintons (and NAFTA). nm

[Aristus]

30. Dubyah was overheard to say: "Cayman Islands? Where in America is that?"

B-)