Rush Limbaugh attacks ABC money-laundering story in connection with his drug-pill addiction

PHXnews ^ | 11/19/03 | Joe Kovacs

[NY.SS-Bar9]

The U.S. Bank Secrecy Act, under which the Suspicious Activity Reporting regulations are issued, makes it a crime to "structure" currency transactions "for the purpose of evading the reporting requirements" of the BSA (Title 31, USC Sec. 5322 and 5324). Structuring normally involves multiple cash deposits or withdrawals at amounts below the $10,000 currency transaction reporting threshold prescribed by BSA regulations (31 CFR 103.22). Structuring can also involve conducting a transaction in a way that causes the filing of a report that contains "a material omission or misstatement of fact."

[ClintonBeGone]

If this ain't typical psychobabble of the govt-sponsored 'recovery programs,' I don't know what is.

What is wrong with his admission? There comes a time in the lives of most of us when we do or should acknowlege the same thing.

[ClintonBeGone]

Not that I think Rush is guilty of money laundering, but you can launder money that you legally earn.

If it's money that comes in the manner you suggest, it's really not earned, nor would it appear to be 'legal'. There has to be a better example of what happened.

[ClintonBeGone]

Not that I think Rush is guilty of money laundering, but you can launder money that you legally earn.

And besides, I don't think ABC network, or whoever the radio syndicate is he works for is in need of hiding income.

[ClintonBeGone]

I have thought I had to be this way or that way in order to be liked or appreciated or understood, and in the process I denied myself who I was, and I denied the other people who I was talking to and relating with who I really am. And that isn't good."

He was talking about his personal relationships with people. Not the libs. Think about it, he's been married what? 3 or 4 times? That's usally a sign there is an issue you need to solve on YOUR end.

[oceanview]

so I am guilty too, taking $1000 per month for 12 months, I could have taken it all at the beginning of the year in one withdrawal. I guess I should turn myself in.

[oceanview]

well, I agree, Rush was nuts to say that. But looking at how this is worded, how do you prove it? The gov't could easily say that anyone that withdraws over $10K in cash, over any period of time, has "structured" those withdrawals to evade the reporting law.

[gridlock]

Unfortunately for Rush, it is impossible to buy hundreds of thousands of dollars in illegal drugs for cash without running afoul of financial disclosure and money laundering laws. He never seemed to care about that before he got caught.

Though to Rush's credit, I do seem to remember him coming out against the "Know Your Customer" rules.

[CWOJackson]

Wow, I've never heard that line before.

[over3Owithabrain]

Satisfaction isn't ALL I'd like to see oozing out of Jennings

You're a braver man than I...

[gridlock]

Blum's suggestion is not that Rush is guilty of laundering money because he is concealing income to himself, but rather that Rush is laundering money because he is aiding his supplier in concealing income from Rush's illegal drug purchases. The fact that Rush paid large sums in cash, instead of using a traceable credit card or check, aided the drug supplier in carrying out his illegal activity.

At least that seems to be the suggestion of Blum. How much water that holds in the real world, or if any Prosecutor in the land would ever put a man on trial for it, is another matter altogether.

[CWOJackson]

"Is it your position that truths ought never be repeated?"

LOL! Of course not. And I'm not even opposed to people posting their pro-dope propaganda repeatedly.

[Aquinasfan]

"I can no longer try to live my life by making other people happy," he said. "I can no longer turn over the power of my feelings to anybody else, which is what I have done a lot of my life. I have thought I had to be this way or that way in order to be liked or appreciated or understood, and in the process I denied myself who I was, and I denied the other people who I was talking to and relating with who I really am. And that isn't good."

This line bothers me. It has the ring of psychobabble. I hope they haven't gotten into his head.

[Helms]

Jennings is an Elite from the Media/Journalistic ranks and like his brethern is partially reponsible for the calamities of world affairs. Additionally, he was born in 1938 and the world is no longer about or for him. He and his like minded brethern have made a mess of things.

[ItsTheMediaStupid]

Actually a seperate law defines structuring as any deposit or withdrawal to avoid reporting laws for the purpose of laundering money.