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lsuroadie
LSU Fan
South LA
Member since Oct 2007
5147 posts

Win or Lose Corporation.... The largest corruption in US history


Good God in heaven above.

LINK
LINK
The story is also available on Fox8 website under Lee Zurik



This makes Bernie Madoff look like a boyscout



This post was edited on 12/24 at 9:03 am



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SundayFunday
LSU Fan
Member since Sep 2011
4339 posts

re: Win or Lose Corporation.... The largest corruption in US history


Son of a bitch...





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TutHillTiger
LSU Fan
Mississippi Alabama
Member since Sep 2010
7261 posts

re: Win or Lose Corporation.... The largest corruption in US history


Tip of iceberg





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Newbomb Turk
Navy Fan
perfectanschlagen
Member since May 2008
9961 posts

re: Win or Lose Corporation.... The largest corruption in US history


This is really GERMANS!

I remember hearing about this back in the 1980's. There was also the accompanying story that anyone who looked to expose it or stop it wound up dead.






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Turbeauxdog
LSU Fan
Member since Aug 2004
5622 posts

re: Win or Lose Corporation.... The largest corruption in US history


So the issue is just that the tax rate is lower?





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Meauxjeaux
Memphis Fan
Team Vag
Member since Jun 2005
16203 posts

re: Win or Lose Corporation.... The largest corruption in US history


12.5% goes to the State, anything over that goes to the "corp" and descendants thereof.

The rate has been 20% - 25%.







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CCT
LSU Fan
LA
Member since Dec 2006
3901 posts

re: Win or Lose Corporation.... The largest corruption in US history


I wonder if the heirs or people getting the money are the "old money" people who hired Blackwater and military whatnots to guard that uppity area in New Orleans after Katrina...





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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
286721 posts

re: Win or Lose Corporation.... The largest corruption in US history


i thought those were jews, but i could be wrong. i only bring that up b/c i doubt jews are in that "ole money elite" status

i heard all kinds of crazy stories about that and i don't know what's true






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mograyback
Missouri Fan
Member since Jul 2011
7102 posts

re: Win or Lose Corporation.... The largest corruption in US history


This is almost as big as the $43 trillion dollar lawsuit for bank fraud that CNBC reported a few weeks ago. Story was taken down within hours of a CNBC executive finding his two babies stabbed to death.





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Jim Rockford
LSU Fan
Member since May 2011
32039 posts

re: Win or Lose Corporation.... The largest corruption in US history


LSU BOS member Jack Lawton is mentioned in the article. The Lawton family name is on the Lawton Room at Tiger Stadium. Former LSU footballer and lawyer Thad Minaldi is closely associated with that family. I've heard him referred to as sort of a consigliere to the Lawtons. I don't know about that, but he's been thick with them going way, way back.

His carefully crafted PR image as a "reformer" notwithstanding, I don't expect our current guvnah to do any more about this than his predecessors have.



This post was edited on 12/24 at 2:02 am


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Jim Rockford
LSU Fan
Member since May 2011
32039 posts

re: Win or Lose Corporation.... The largest corruption in US history


quote:

i heard all kinds of crazy stories about that and i don't know what's true


Michael Lewis, the author from New Orleans, wrote about his friend who hired some Israeli commandos as bodyguards after Katrina Too tired to google it, but I think it was a piece for Esquire.



This post was edited on 12/24 at 5:26 am


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germandawg
Member since Sep 2012
2718 posts

re: Win or Lose Corporation.... The largest corruption in US history


quote:

Good God in heaven above. LINK The story is also available on Fox8 website under Lee Zurik This makes Bernie Madoff look like a boyscout


And people scoffed when Obama said "your didn't build that". This is the story of America and business in general. There are very few innocent business entities in the world. Nothing new here....






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NC_Tigah
LSU Fan
Member since Sep 2003
48228 posts

re: Win or Lose Corporation.... The largest corruption in US history


quote:

This makes Bernie Madoff look like a boyscout
A bit of perspective:

Madoff = $18 Billion over 15 yrs (noninflation adjusted)
Win or Lose Corporation = $0.81 Billion over 80 yrs (inflation adjusted)






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Turbeauxdog
LSU Fan
Member since Aug 2004
5622 posts

re: Win or Lose Corporation.... The largest corruption in US history


quote:

12.5% goes to the State, anything over that goes to the "corp" and descendants thereof. The rate has been 20% - 25%.


So the issue is that they are getting 87.5 percent of the production value instead of 80?

Was that the prevailing rate at the time and they locked it in perpetuity? Or was that lower than the prevailing rate 80 years ago?






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lsuroadie
LSU Fan
South LA
Member since Oct 2007
5147 posts

re: Win or Lose Corporation.... The largest corruption in US history


quote:

Madoff = $18 Billion over 15 yrs (noninflation adjusted) Win or Lose Corporation = $0.81 Billion over 80 yrs (inflation adjusted)


Yeah I know...it was for effect. But...

the News story did current day dollars as 1.2B paid out and that's NOT including the Federal payout starting in '53...that's estimated to be over 800m!






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lsuroadie
LSU Fan
South LA
Member since Oct 2007
5147 posts

re: Win or Lose Corporation.... The largest corruption in US history


quote:

Turbeauxdog


The real issue isn't the lesser payout percentage to the state. The issue is Long GAVE the lease to a buddy contractor who in turn formed the corporation of which Long became a silent partner along with Noe!

GAVE him the lease.


You got to watch the entire story.

LINK

AND the real kicker...it NEVER sunsets. It will continue paying dividends til the end of time.






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Antonio Moss
LSU Fan
Baton Rouge
Member since Mar 2006
27765 posts

re: Win or Lose Corporation.... The largest corruption in US history


Of course Huey Long was corrupt, he was a progressive.





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notiger1997
Member since May 2009
21295 posts

re: Win or Lose Corporation.... The largest corruption in US history


quote:

The real issue isn't the lesser payout percentage to the state


Yep.

In the big picture, the politicians of La back then screwed us bad with the whole issue of offshore royalties. We get nowhere near the $$ other states get.






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