Jeb Hensarling Is Friend to Working Moms and Billionaire Tax-Evading Vultures Alike

Categories: Schutze

McCormick_Twine_Binder_1884.jpg
Wikipedia
Why didn't Cyrus McCormick think to ship his twine binder to the Isle of Man, re-import it and then claim he didn't owe any taxes?

A career as a rough-and-ready entrepreneurial job creator just ain't what it used to be. I'm thinking about Cyrus McCormick sweating his brow off at the smithy on his dad's farm in Virginia where he eventually banged together the first horse-drawn reaper in 1831, or Henry Ford 65 years later banging together that first gasoline-powered "Quadricycle" in the garage behind his house on Bagley Street in Detroit.

The comparison would be with that great latter-day Texas job-creator, Jeb Hensarling, who sweated through his coveralls first as an aide to Texas Senator Phil Gramm, then was spotted by Dallas' own billionaire Wyly brothers, pioneers in the off-shore asset-hiding game. He sweated away for a while working for the Wyly brothers' vulture fund, then went back to Washington and grew calluses on his hands as a hard-working member of Congress.

jebhensarling.jpg
Jeb Hensarling, immune to embarrassment.
My own favorite moments in Hensarling's leadership career include his attempt two years ago to exempt vulture funds like Mitt Romney's Bain Capital from reporting requirements on the argument that making them do all that paperwork would break their spirits and cause them to abandon the vulture fund business altogether, which, Hensarling said, would work a hardship on single mothers who would no longer be able to invest in vulture funds:

"It really comes down to us again," he had the temerity to argue on the House floor. "Are there going to be additional protections for multimillionaire investors or protections and opportunities for unemployed, single moms trying to make ends meet? Our side of the aisle said, 'Let's help the single mom.'"

See also: Next Line of Defense for Wylys: "But Bill Brewer Said It Was OK"

Hensarling tends not to smile down, however, on old-fashioned industries that actually make stuff and hire people, calling to mind another favorite Hensarling moment, his confident prediction six years ago that a federal bail-out of the American auto industry would be money down a rat-hole with only unpaid loans and rotting hulks of factories to show when the bill came due. One wonders if each succeeding quarterly report of black ink from Detroit is another knife in his heart.

Hensarling comes to mind today because he tops a list of the Wyly brothers Washington rent-boys amid speculation they may suffer some kind of embarrassment related to the recent guilty verdict brought against the Wylys in a massive federal civil prosecution accusing them of illegal trading practices.

Probably all of us can agree right out of the chute that the notion of Hensarling being embarrassed is just downright silly and that the two words, embarrassment and Hensarling, should never be used in the same phrase. A man who can propose before Congress that requiring vulture funds to file paperwork will inflict hardship on single mothers is a man who fears no embarrassment.

And that's really where the whole Wyly brothers business brings us -- this moment in history when obscenely rich fraudsters strut the national stage as ardent patriots while they ship their money off to hidey-holes on the Isle of Man, and rent-boys in Washington do their bidding while claiming to defend single mothers and the Constitution. If that doesn't embarrass them, what could?

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15 comments
TheRuddSki
TheRuddSki topcommenter

I saw "tax-evading vultures" in the headline, and thought it was about this...

More than 2,800 [IRS] workers got bonuses despite facing a disciplinary action in the previous year, including 1,150 who owed back taxes...

Montemalone
Montemalone topcommenter

I want to see all these repub pols rounded up, stripped naked, and dropped on a desert island. Film crews in tow. Let's see the spunkdrops pull themselves up by their bareasses and build something. 

Of course, on the second episode they'll all be sitting around a pile of green wood shivering in their tears.

Putzes.

mavdog
mavdog topcommenter

At least we have the protection of campaign finance laws to protect the political process from being perverted by the largesse of campaign money .

uh, wait, the SCOTUS  pretty much said no to those laws.

uh oh.

holmantx
holmantx topcommenter

Did the President show contrition?

Antoin "Tony" Rezko (born 1955) is an American businessman. He lived in Chicago, and was convicted on several counts of fraud and bribery in 2008. He was a fundraiser for Illinois Democratic politicians since the 1980s. After becoming a major contributor to Rod Blagojevich's successful gubernatorial election, Rezko assisted Blagojevich in setting up the state's first Democratic administration in twenty years. Rezko was able to have business associates appointed onto several state boards. Rezko and several others were indicted on federal charges in October 2006, for using their connections to the state boards to demand kickbacks from businesses that wanted to do business with the state.

While the others pleaded guilty to the charges, Rezko pleaded not guilty and was found guilty of 16 of the 24 charges filed against him. On November 23, 2011, Rezko was sentenced to 10 1/2 years in prison.

In June 2007, the Sun-Times published a story about letters Obama had written in 1997 to city and state officials in support of a low-income senior citizen development project headed by Rezko and Davis. The project received more than $14 million in taxpayer funds, including $885,000 in development fees for Rezko and Davis.

In the South Carolina Democratic Party presidential debate on January 21, 2008, Senator Hillary Clinton said that Obama had been associated with Rezko, whom she referred to as a slum landlord. The L.A. Times indicated that its own review showed Rezko played a deeper role in Obama's political and financial biography than Obama has acknowledged. Within days of the debate, a photo of Rezko posing with Bill and Hillary Clinton surfaced.

dingo
dingo

@Montemalone  

Politicians generally don't build anything. Most of them are lawyers so they suck the blood out of the people that do build things, by nature. 


Who knew?

mavdog
mavdog topcommenter

@TheRuddSki

oh yes, the link that said "Gibson concedes that after traveling to Madagascar in 2008, it received a report concluding that “It is currently illegal to harvest or export ebony.” In 2009, on the advice of a Gibson employee who counseled that a German wood supplier named T.N. (Theodore Nagel) could supply the company with ebony obtained from “the grey market,” Gibson arranged for four shipments of Madagascar ebony'.

uh, guilty.

I especially liked the wailing and crying by Juszkiewicz that Gibson had been unfairly treated, and after all the other guys might be doing it, too.

but that doesn't change the fact that Gibson violated the law, by their own admission, and promised to not do the same going forward.

did you have a point in linking this to the Hensarling story? doesn't seem to connect in any way...

TheRuddSki
TheRuddSki topcommenter

@mavdog

I take it you either didn't read the links, or disagreed completely, which is ok - that's your job. If Jay Carney resigns, you should apply.

mavdog
mavdog topcommenter

@TheRuddSki

your obsession has now reached absurdity.

Gibson imported wood that they themselves acknowledge was questionable in its legality. Gibson entered into a consent agreement to revise their procedures on wood importation to prevent similar from happening in the future.

and by the bureaucrats in the DofJ enforcing an existing law you have the cajones to say "This administration" with a straight face?

good grief, now the right wing is saying that enforcement of the law is reason to criticize "this administration".

beyond the pale...

holmantx
holmantx topcommenter

@TheRuddSki  

We can expect more of these outrageous political attacks by the President's agencies as the American people remove another chunk of cards from their house of.  And no doubt they will be throwing haymakers unabashed, once completely unmasked and without an ounce of contrition.

What began in 2010 will continue at the 2014 mid-terms, and in a workman-like manner Americans will deconstruct the Left's fifteen minutes.  And this is really gaining momentum at the state levels of governance. 

Most of the Democrats will break and flee, leaving the true believer dead-enders to fall on their red sickles.

Like the backside of a baboon. When the baboon is up in a tree, with its hind end facing us, there is the face of the Left exactly: scarlet, scaly, glazed, framed in a clotted, filthy wig.

Loop a pole rope around a leg and yank it out of the tree.  Just stand clear of those canine teeth.

mavdog
mavdog topcommenter

@TheRuddSki

But in the case against Gibson guitar....

yeah, the case when Gibson acknowledged it violated the Lacey Act by their importation of certain wood, and paid a fine?

relevant how?

TheRuddSki
TheRuddSki topcommenter

@holmNtex

The U.S. court refused Ecuador's request, saying it is under no obligation to enforce Ecuadorean laws.

But in the case against Gibson guitar....

holmantx
holmantx topcommenter

@mavdog @TheRuddSki  

"The Defendants may have committed the wrongs which Ecuador has alleged," Thornton wrote. "However the manner in which Ecuador has attempted to right the Defendant's alleged wrongs is inconsistent with U.S. law and policy."

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