Hong Kong: Do You Feel Safe?

Re: [spiers] Hong Kong: Do You Feel Safe?

On Thu, 4 May 2006 13:31:45 -0700 (PDT), M A Granich wrote
:

> It wasn't problem solving that got Marc Rich into
> trouble, it was paying his taxes. He should have paid
> his taxes like everyone else. How did he solve the
> oil crisis?

Who knows what good lawyers might have done for him... Well we
do know, the good lawyer Bill Clinton got him pardoned.

But back to the oil crisis, Pres Carter announced that oil "below ground" and
oil "above ground"
would be priced differently... something about one being market price, more or
less, and the other
being fixed price. I am fuzzy on the details and forget the logic behind it,
but anyway, Marc Rich
got busy calling one the other (oil is fungible) working with those wascally
iwanians and others.
Bottom line, the oil price broke, oil began to flow, problem solved, and I am
sure Rich considered
money made overseas to be declared overseas. He certainly declared all his
earnings to Swiss
bankers.

The US authoriies were ticked at having their regulations ignored, in spite of
the result. Juries
view tax evasion as far more wicked than solving the oil crisis, so that may
also have contributed
to the specific charges.

John

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