Word: taxed
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...Diego law professor, who is one of the sharpest critics of the ratings status quo, is a "regulatory license" for the ratings agencies. It's certainly a license to print money. Moody's, the lone ratings firm for which data are available, made $702 million in after-tax profit last year, up from $289 million just five years before. Its operating profit margin was a stunning 50% of revenue. By comparison, Google...
...original version of this article said Moody's made $702 billion in after-tax profit last year. The correct figure is $702 million...
...into high profile, fix-all “solutions” before we have fully analyzed the interdependency of all the elements involved. Instead of pursuing those modest, non-fanciful solutions that we have reason to believe might work (like forest management to increase carbon uptake and a carbon tax), we’ve seen millions of dollars plunged into a wasteful scheme that shuttles money directly from taxpayer to corn farmer, nastily hiking world food prices...
...rarely invoked, has Spitzer pinned because it forbids "transportation of a person across state lines for purposes of prostitution." "It's an undeniable Mann Act violation," says Judd Burstein, an attorney whose history with Spitzer dates back to their facing off on opposite sides of the 1992 Gambino "mob tax" case...
There are also questions about whether Spitzer could be prosecuted for tax fraud if he "structured" his payments to the Emperors Club VIP through shell companies. "What it's really going to depend on is how the money was paid," Burstein told TIME, adding, "If his name was not Eliot Spitzer, it's virtually inconceivable that there would be any question of prosecution." Still, he put the odds...