{"id":176305,"date":"2020-07-17T18:04:00","date_gmt":"2020-07-17T23:04:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/07\/17\/from-the-department-of-well-duh\/"},"modified":"2020-07-17T18:04:00","modified_gmt":"2020-07-17T23:04:00","slug":"from-the-department-of-well-duh","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/07\/17\/from-the-department-of-well-duh\/","title":{"rendered":"From the Department of &#8220;Well, Duh!&#8221;"},"content":{"rendered":"<p>A leaked document has revealed that <a href=\"https:\/\/www.reuters.com\/article\/bc-finreg-fbi-laundering-private-equity-idUSKCN24F1TP\">the FBI is worried that some private equity firms are involved in money laundering<\/a>.<\/p>\n<p>Well, color me f%$%#ing stunned.<\/p>\n<p>Private equity, which generates profits from the obscene fees that it charges for the services it allegedly provides, is nothing at all like money laundering, which generates profits from the obscene fees that it charges for the services it allegedly provides:<\/p>\n<blockquote><p><span style=\"color: blue;\">The U.S. Federal Bureau of Investigation believes firms in the nearly $10-trillion private investment funds industry are being used as vehicles for laundering money at scale, according to a leaked intelligence bulletin prepared by the agency in May.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">\u201cThreat actors\u201d \u2014 including criminals in it for the money and foreign adversaries \u2014 \u201cuse the private placement of funds, including investments offered by hedge funds and private equity firms\u201d to reintegrate dirty money into the legitimate global financial system, according to the bulletin.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">It also said the industry lacks adequate anti-money laundering programs and called for greater scrutiny by regulators, which have yet to issue rules for the industry. <\/span><\/p><\/blockquote>\n<p>Corruption and money-laundering is a feature of private equity, not a bug.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A leaked document has revealed that the FBI is worried that some private equity firms are involved in money laundering. Well, color me f%$%#ing stunned. Private equity, which generates profits from the obscene fees that it charges for the services it allegedly provides, is nothing at all like money laundering, which generates profits from the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[368,435,456],"class_list":["post-176305","post","type-post","status-publish","format-standard","hentry","tag-corruption","tag-crimes","tag-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176305"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=176305"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176305\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}