Get Rush – That’s the Game

Newsmax ^ | Monday, Dec. 8, 2003 | Christopher Ruddy

[an amused spectator]

I don't believe banks are into advising celebrities to skirt money laundering laws.

http://eastbay.bizjournals.com/eastbay/stories/2001/07/16/daily10.html

July 16, 2001

Regulators fine U.S. Trust $10M

Charles Schwab Corp.'s U.S. Trust unit was fined $10 million by regulators for allegedly helping clients around securities laws and allegedly failing to comply with anti-money-laundering rules, among other charges.</b.

U.S. Trust, based in New York, agreed to pay $5 million to the Federal Reserve Bank and $5 million to the New York State Banking Department...

The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount.

==============

Sounds like Rush's bank did just that thing.

Banks and other financial institutions that cater to the wealthy face a difficult balance between trying to comply with money- laundering regulations and serving legitimate customers who don't want transactions delayed by bank compliance procedures, said Bruce Zagaris, a New York attorney who specializes in international law and banking regulation.

"You don't want to be so vigilant that you lose clients, but vigilant enough so that you don't have law enforcement and regulators investigating you, especially if you're going to get fined $10 million and have [reporters] writing stories about you," Zagaris said.

gcruse, honest & upstanding bank teller, loses his job in two days after a squabble with a multi-millionaire customer over transaction reporting requirements.

The Internet sure is a great soapbox, ain't it? Beats having to live in the real world, hey? ;-)

[gcruse]

I don't think Rush's criterion was whether the money would be delayed or not. His pattern of frequent withdrawals just under the limit speaks more to hiding the transactions themselves. The internet is great for getting information, isn't it? Interpreting it is as prone to agendas as always, though.

[an amused spectator]

It may be true that Rush is being held to an unfair standard, or that a conspiracy is working against him. But isn't that exactly what the Clintonistas said?

You're becoming confused. The Clintonistas used the machinery of government against their accusers during the impeachment wars. Here, the Democrats are again using the machinery of government against Limbaugh in this matter (leaked information from a New York State Banking investigation into Limbaugh's bank, and a government investigation into "violations" of "doctor shopping" laws).

I'm pretty sure that our vast Right-Wing conspiracy wasn't pulling the strings of the judiciary or the executive branch then, and neither is Limbaugh now.

[an amused spectator]

His pattern of frequent withdrawals just under the limit speaks more to hiding the transactions themselves.

I guess that you missed this part of the article that I posted, so I'll repeat it:

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

"The bank allegedly failed to report transactions of more than $10,000, a federal requirement to combat money-laundering. It also reportedly allowed several dozen customers to deposit or withdraw amounts just under that amount."

[gcruse]

Rush showed a pattern of frequent just-under-the-limit withdrawals. His trying to lay this off on the bank will not wash. Only time will tell, though, not your cataphasia.

[an amused spectator]

His trying to lay this off on the bank will not wash.

Amazing how prescient Limbaugh was, getting Charles Schwab Corp.'s U.S. Trust unit prosecuted a couple of years before his problems were outed, so that he could "lay it off" on the bank.

What a magnificent, omnipotent puppetmaster!

You just hate Limbaugh, cruse - go ahead and say it. You'll feel better, and we won't have bother with your drivel on this thread any longer.

[gcruse]

Nope, don't hate him at all. AAMOF, my web site was the Rush Limbaugh featured web site for the month of May, 1998, I think it was. Rush was my hero until he shut down all inquirers into the Vince Foster death from speaking on his show.

Now, he's just another entertainer run afoul of the law.

[an amused spectator]

Now, he's just another entertainer run afoul of the law.

I'll allow that this is a true statement, with a qualifier:

Now, he's just another entertainer run afoul of the "law".

Like Linda Tripp and Jim Robinson before him, Rush is in the sights of the "Letter, But Not Spirit, Of The Law" Democrats.

[Hemingway's Ghost]

Really?? So, a vigilant citizen will never get fooled?

I'm sure it happens some times, but that's a lot of wool to pull over everyone's eyes all the time, isn't it?

[Tribune7]

I'm sure it happens some times, but that's a lot of wool to pull over everyone's eyes all the time, isn't it?

It's not everyone, I'm talking about. There are people who are weak or stupid, yet are basically decent, and who need some sort of protection from those who would take advantage of them. And remember, we agree these people should not be punished or turned into criminals for their non-malevolent behavior.

Second, there were at least two times in our history in which manufacturors and distributors of potentially harmful products sught to maximize profits -- through skilful marketing -- at the expense of individuals causing suffering and leading to unfortuante backlashes against freedom.

Many of those taken advantage of where intelligent people and good citizens.

[Tribune7]

Rush chose his wrong behavior with drugs. He is at fault.

And he's accepted blame. Do you want to see him prosecuted as a criminal? Would you rather he was on the air or off the air? Would you rather he exercised influence in this upcoming political campaign or hamstrung?

[k2blader]

Nice article.

That money laundering angle seems to have gone the way of the maid story. I think the "doctor shopping" angle will too.

What next?

[BlazingArizona]

Why aren't the anti-WODers also defending Rush?

This one does! I would love to see Rush, armed with newfound personal experience with the powers the WOD can give rogue prosecutors, come out swinging against it.

[Captiva]

Rush smears liberals, they smear him.

Smear is what you do to a bagel. Rush ANNIHILATES liberals... more so socialist liberalism. Take Rush off the air tomorrow & send him to jail if that's what you want. The kitty is out of the bag. We have 15 years of education.

Colonel Trautman: It's over, Johnny. It's over!

Rambo: Nothing is over! Nothing! You just don't turn it off!

(:

[Tribune7]

This one does!

Excellent!

[proust]

"I find it amusing that the El Rushbo defenders (Ruddy in this case) have no problem using Ozzy as a comparative."

Defining deviancy down can create some strange bedfellows.

[Protagoras]

Some people didn't need to be educated by a radio pitchman, but hey,,where ever you can get it I suppose.

[Captiva]

Yea. Some people aren't arrogant snide know-it-alls I guess.

Take care buddy.

[Protagoras]

Yea. Some people aren't arrogant snide know-it-alls I guess.

I guess, but hey, I thought you liked Rush!

Take care buddy.

You too pal.