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Q.

Congressman Dennis Kucinich says that funds from American taxpayers money that were supposed to bail out American banks have gone to China , India and Dubai.

Q. If the meticulous US Department of Treasury cannot keep track of its funds, can our finance ministry take care of its money when so many crooks abound in our corridors of power?

Asked by joyoti sen, 15 Mar '09 04:18 pm
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Answers (5)

 
1.

What about the FII investment in India that has been withdrawn and gone back to USA? What about the $700 Billion worth of purchase of Treasury Bonds by China in USA? What about the net investment in USA by China, India and Gulf Countires? Who is Tax payer in America? Are the investment form India, China or Dubai free from tax in USA? Are these investor not paying tax to US government? Are they not employing people who are resident in USA and paying individually tax on their earnings as well as VAT on the expenditure they are doing? I am sure that if the survey is done then it will be found USA got more money then it lost. They have to investigate how $50 Billion was defrauded and where this money was taken by Madoff, why Lehman Borthers failed-where all money went? Why AIG incurred the biggest ever corporate loss in US history. They all created a bubble of mortgages and it burst. Because of USA subprime the whole world is facing recession.
Answered by sudipta, 16 Mar '09 03:00 am

 
  
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2.

We must not forget that at the end of the day, this Dennis Kucinich is also a politican and wishes to arouse the passion in general public for his own personal poltical gains. It does not need a genius in current circumstances to understand that in this intrinsically inter-related world economy, there would certainly be cross-border exchange of money in a very legitimate way. One example is foreigners investing in ADRs or American Depository Receipts. Now they need to pay out to different investors domestic or overseas on maturity of such term deposits for sure. So, if there is a bank, in which there is an investment by foreigners, the bank is supposed and is obliged to make the payments with interests to the foreigners. Be they sitting in UK or Dubai or India or China. What is wrong with that?

It is making a passionate speech and making an issue out of non-issue. Similarly, there can possibly and legitimately the money going out of India too and it's OK.
Answered by manish varma, 15 Mar '09 06:19 pm

 
  
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3.

I think it is really difficult to keep track of money in a democratic set up. Especially in India. All vested interests.
Answered by Subhash Palsapure, 15 Mar '09 05:57 pm

 
  
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4.

The bail out plan was mooted during Bush's regime. It surely will be handled now the Obama way.
Answered by gem mina, 15 Mar '09 04:48 pm

 
  
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5.

The News seems to be false & malicious
Answered by surinder, 15 Mar '09 04:22 pm

 
  
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