Bush and Pelosi Angles on Stanford

http://www.futureofcapitalism.com/2009/06/bush-and-pelosi-angles-on-stanford

News accounts of today's indictment of Allen Stanford refer to his bases in Texas, Virginia, and Antigua, but not so much attention is being paid to his activities in the U.S. Virgin Islands, where, as this article from the St. Croix Source reports, Mr. Stanford's February 2008 groundbreaking for a vast "global management complex" for his financial group was celebrated with letters of congratulation from President Bush and from the Speaker of the House, Nancy Pelosi. Mr. Stanford has maintained that he is innocent of any wrongdoing. But the special federal tax break for the U.S. Virgin Islands from which he would have benefited was the focus of a series of New York Sun editorials and news articles. See, for example: here, here, here, and here. The tax break may be worth taking a new look at in light of Stanford's indictment.

Jun 19, 2009 at 2:32 pm Related Topics:  Taxes receive the latest by email: subscribe to the free futureofcapitalism.com mailing list