Tag: Finance

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Mnuchin Grilled Over Trump’s Tax Returns Double Standard

Treasury Secretary Steven Mnuchin at a Senate Finance Committee hearing on 2/12/2020

At a Senate Finance Committee hearing on 2/12/2020, Treasury Secretary Steven Mnuchin was grilled by Sen Ron Wyden (D-OR) about the apparent double standard stemming from his department’s decision to deny a request for President Trump’s tax returns from House Democrats while at the same time gladly handing over financial records related to Hunter Biden to Senate Republicans.

Sec Mnuchin’s explanation, a plausible one, was that the request for Trump’s tax returns was governed by a different provision from the one governing records request related to Hunter Biden. According to Sec Mnuchin, the records request related to Hunter Biden was a SARS (Suspicious Activity Reports) request which he said Treasury has already released for over 1,000 individuals following requests by both Republican and Democratic committee chairs.

Specifically, Sec Mnuchin said, “The House disclosure of tax returns is subject to protections of 26 U.S.C. 6103 which on the advise of counsel as we documented, we had significant concerns. That’s very different than I believe what you[Sen Wyden] are referring to–SARS requests, which on a bipartisan basis we have responded to thousands ofSARS requests to the committees from both Republicans and Democrats on an equal basis.”

The question for House Democrats going forward is whether they can pin Treasury Secretary Mnuchin to this SARS rationale and get Treasury to release suspicious activity reports related to the Trump family from the myriad banking institutions they have been involved with, especially Deutsche Bank. This might prove particularly interesting given the fact that Attorney General William Barr’s daughter Mary Daly currently works at Treasury’s Financial Crimes Enforcement Unit (FINCEN), which presumably handles suspicious activity reports from the various banking institutions. Was Mary Daly installed at FINCEN for a reason? Hmm

Bottom line folks, getting Trump’s tax returns remains a very high priority for the majority of the American public. However, there are other financial records related to Trump and his family that House Democrats could pry loose using Sec Mnuchin’s SARS rationale, especially records related to Trump’s dealings with Deutsche Bank. Hopefully House Democrats will seize on this great opportunity Sec Mnuchin has unwittingly presented them with.

For those of you very happy with @Emolclause’s activism don’t shy away from the “tip jar” below on your way out.

You may reach the author via email at author@grassrootsdempolitics.com or author@emolumentsclause.com

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Why Trump’s Impeachment & Removal From Office Is Very Real

After recent developments in the Southern District of New York (SDNY) case involving longtime Trump attorney Michael Cohen, the mainstream media is rife with stories about how the fallout from the Cohen case could expose Trump to criminal liability and possible impeachment proceedings

Almost all the reporting from the mainstream media seems to indicate that by directing Michael Cohen to pay hush money to adult film star Stephanie Clifford(aka Stormy Daniels) and Playboy model Karen McDougal, Trump’s only criminal liability is felony campaign law violation. This idea that Trump is only looking at campaign law violations in regards to Michael Cohen has become so prevalent that the usual Trump defenders have already crafted a defense for him–the “intent” defense. 

Trump’s defenders are already out there making the argument, a very credible one, that in order to convict on a campaign law violation, the prosecution will have to prove intent–in this case, that Trump ordered Cohen to make the hush payments for campaign purposes. Trump’s lawyers will obviously counter that he ordered the payments to shield his family, especially his wife Melania from embarrassment–a very good defense, albeit untrue. 

Remember in criminal cases in order to obtain a conviction, the prosecution has to prove their case beyond a reasonable doubt. Here any reasonable person would agree that Trump’s lawyers can create enough reasonable doubt as to his intent in ordering the hush payments, to beat the case. This is precisely why Trump loyalists are already downplaying his potential campaign law violations.  

What is shockingly left out of the mainstream media coverage however, that should greatly worry Trump loyalists is the fact that in regards to Michael Cohen, campaign law violations are Trump’s least problems. Trump’s real criminal liability in regards to Michael Cohen come in the form of bank fraud, money laundering and wire fraud–all very serious felonies which if New York prosecutors can present evidence of, will almost certainly lead to his impeachment and removal from office. You don’t have to take Yours Truly’s word for it, just listen to what former FBI Assistant Director for Counter Intelligence Frank Figluzzi said on MSNBC’s Deadline White House show. The full Deadline White House segment is available here but the relevant clip is below.

Figliuzzi told Deadline White House host Nicolle Wallace; “…He[Trump] was directing this activity allegedly and the activity is far more Nicolle than simply trying to keep women quiet that you had an affair with. We are talking about directing things like bank fraud, money laundering, wire fraud……” Folks, if the Southern District of New York prosecutors can present evidence that Trump either did or directed Cohen to commit bank fraud, money laundering or wire fraud, serious felonies often associated with organized crime, you can rest assured that GOP Senators Collins, Rubio, Sasse, Murkowski and others will join the Democrats in removing him from office. Given the fact that Cohen has been cooperating, there’s a very good chance that SDNY prosecutors already have evidence of bank fraud, money laundering and wire fraud. 

Bottom line folks, contrary to the characterizations you are hearing from the mainstream media, this Michael Cohen story is deadly serious and is about much more than campaign finance violations. Trump faces a very real possibility of impeachment and removal from office because of potential bank fraud, wire fraud and money laundering cases that can be made against him as a result of Michael Cohen’s cooperation with SDNY.

For those of you very happy with @Emolclause’s activism don’t shy away from the “tip jar” below on your way out.