Wednesday, February 4, 2009

How To Make An Ugly Couch Look Good

guilty ..

The crisis was not only a slowdown is now a monumental economic crisis halfway between recession and depression, if there is such a place, "and now plays blame. Already used to Bush, Aznar, the international financial system, globalization, the "greed." So far that plays blame the disaster to the bankers.

is true that some responsibility must have bankers, but that write in another post.

In this campaign against bankers happens, the way of what we have seen so often in movies of police, namely police minister makes a good, Solbes, and other done wrong, Sebastian; depending on when they say one thing or the contrary, in a well organized series of interventions: Zapatero at the rally blasts banking Lugo, the Minister Solbes in the last meeting with the bankers to appease, the Minister Sebastian one day on the radio after he runs out of patience you have with the bank, Mr. White later said that the PSOE has a lot of patience ..

no mistake: the policy of the Government of Spain will have all the patience in the world with bankers. Who else is going to finance political parties, including the PSOE, and then write off their debts?

impatience Since when? Why not explain that so quickly earmarked EUR 250,000 million in loans and guarantees for the banking model as conceived by the bankers themselves.

impatience is sure of anything, and I guess that used to be like a news item published by the newspaper El Mundo on 19 January:


technicians Finance (Gestha) yesterday filed a complaint with the Supreme Court challenging the tax cut of 25 percentage points, from 43% to 18% for managers and partners of banks and savings on securities yields obtained in their own financial institutions.

The newspaper reported that the Cabinet had introduced this bonus to bankers by surprise, sly and retrospectively, in a final provision of Royal Decree which implements the law of prevention measures tax fraud.

As this newspaper also advanced, Gestha decided to challenge the decree, published in the Official Gazette on 18 November, as the index of the Council of Ministers yesterday did not include the correction of this reduction.

Gestha demand is based on the excess of the decree. Technicians believe that paragraph two of the third final provision, under which modifies the taxation of those responsible for credit institutions is illegal and seriously undermines the rule of law as it went beyond the provisions of the Income Tax Law, to the extent that a regulation can not amend a higher law, as the government can not subvert, through a Royal Decree, agreed by Parliament.

also Gestha states that this change of taxation is an unfairness to the other businesses and sectors to consider that benefits of large shareholders banks, members of its senior leadership, and their spouses and parents or children through third grade.

The organization also added that this measure generates a positive discrimination between financial institutions themselves, as it affects only the directors of banks, but to a much lesser As the directors of savings banks and rural banks, who are appointed by election or representation and generally do not possess great fortunes.

Finally, Gestha considers that this provision is somewhat paradoxical, since in the last income tax reform of 2006, all united their savings income tax to 18% by establishing a single exception where Shall financial transactions between individuals involved in your company outside credit or not, that would taxed at a marginal rate corresponding to avoid situations like that now the government carte blanche.





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