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You are here: Home / Economics / C.R.E.A.M. / In Soviet Union, corporation dissolve you

In Soviet Union, corporation dissolve you

by DougJ|  August 6, 201112:09 am| 43 Comments

This post is in: C.R.E.A.M., We Are All Mayans Now

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I’m still getting used to our new banana republic status:

Michael Isikoff finds an even more extreme case today: A Delaware corporation that formed itself gave $1 million to a pro-Mitt Romney super PAC and then dissolved. The PAC says it’s fulfilled its disclosure requirements — with the FEC, not the much toothier IRS. And that seems to be that.

This is more or less how money moves around Russian politics. For all we know, the Delaware corporation is owned by another corporation, registered in the Cayman Islands, with its directors another set of anonymous lawyers. Its money could come from, say, the government of Pakistan, which has recently shown an interest in illegal contributions to American pols.

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Reader Interactions

43Comments

  1. 1.

    Comrade Luke

    August 6, 2011 at 12:11 am

    It’s like a flash mob – a flash PAC!

  2. 2.

    arguingwithsignposts

    August 6, 2011 at 12:13 am

    Great, now we are going to get shirtless pics of politicians a la Putin.

  3. 3.

    Jack Bauer

    August 6, 2011 at 12:14 am

    I want to +1 this on google.

    Title is great.

  4. 4.

    Villago Delenda Est

    August 6, 2011 at 12:15 am

    The total lack of any governmental controls over business that prevailed in post Soviet Russia is precisely what our Galtian Overlords want. The ability to exploit without any restraints, legal, moral, or otherwise, on their rapacious greed.

  5. 5.

    Comrade Luke

    August 6, 2011 at 12:16 am

    I look forward to McMegan using this example when a PAC does something similar for a Democrat 24 years from now.

  6. 6.

    Suffern ACE

    August 6, 2011 at 12:22 am

    @Villago Delenda Est: I’ve thought that what they want is China, where there is one party who claims to be for the workers, but who’ll decide who gets to be a billionaire and crush anyone who says otherwise.

  7. 7.

    hilts

    August 6, 2011 at 12:33 am

    Watchdog Calls for Investigation into Delaware Mystery Corporation’s Million Dollar PAC Donation
    h/t http://www.campaignmoney.org/press-room/2011/08/04/watchdog-calls-investigation-delaware-mystery-corporation

  8. 8.

    Comrade Kevin

    August 6, 2011 at 12:34 am

    No, no, the phrase should start with “In Soviet Russia”

  9. 9.

    rikyrah

    August 6, 2011 at 12:41 am

    this is what CU hath wrought.

    it could be Al Queda giving Mittens money…and we wouldn’t know.

  10. 10.

    Omnes Omnibus

    August 6, 2011 at 12:43 am

    @rikyrah: It would be irresponsible not to speculate.

  11. 11.

    Jenny

    August 6, 2011 at 12:57 am

    Silent cash used to prop up Mittster is the new definition of “RomneyCare”.

  12. 12.

    Jewish Steel

    August 6, 2011 at 1:02 am

    Whata kantry!

  13. 13.

    Dennis SGMM

    August 6, 2011 at 1:05 am

    @rikyrah:

    it could be Al Queda giving Mittens money…and we wouldn’t know.

    Now friends, in an era of globalization why should Americans be the only ones who can buy American politicians? I’d say take it to SCOTUS but this court would decide 5-4 that cash, no matter what its source, has an inalienable right to find its way to politicians pockets.

  14. 14.

    Paul

    August 6, 2011 at 1:08 am

    A Delaware corporation that formed itself gave $1 million to a pro-Mitt Romney super PAC and then dissolved.

    I love the idea of a corporation that wills itself into existence and then selflessly dissolves back into oblivion for the love of Mittens and, presumably, the greater good.

  15. 15.

    Omnes Omnibus

    August 6, 2011 at 1:10 am

    @Paul: I wonder what the purpose of this corporation was listed as in its charter.

  16. 16.

    Anne Laurie

    August 6, 2011 at 1:11 am

    @rikyrah:

    it could be Al Queda giving Mittens money…and we wouldn’t know.

    I thought AQ saved their donations for successful terrorists… like Eric Cantor.

  17. 17.

    YoohooCthulhu

    August 6, 2011 at 1:12 am

    Meme fail. Should be “In Soviet Russia”.

  18. 18.

    aisce

    August 6, 2011 at 1:18 am

    i don’t know what you wankers are so upset about, this just means that a couple of hedge fundy/lawyer types are too embarrassed to have their names attached to the ol’ mittster.

    feel the mormentum!

  19. 19.

    Paul

    August 6, 2011 at 1:18 am

    I mean conceptually, it’s the Galtian Godhead.

  20. 20.

    PanAmerican

    August 6, 2011 at 1:23 am

    I bet he doesn’t want his wife to know he’s self-financing another campaign.

  21. 21.

    Joseph Nobles

    August 6, 2011 at 1:25 am

    Maybe I should stay off of Twitter for a few hours. I’m starting to get thin-skinned.

  22. 22.

    Paul

    August 6, 2011 at 1:27 am

    @Omnes Omnibus:

    Just discovered the rely button, per comment #18:

    I mean conceptually, it’s the Galtian Godhead.

  23. 23.

    fuckwit

    August 6, 2011 at 1:30 am

    In Soviet America, collapse coming soon.

    When the corruption gets this deep, the political system is no longer viable.

    Same shit that happened in Soviet Union, where the system was corrupt and useless and nobody had any respect for it anymore, then it was over.

    We have become a Mafia state.

  24. 24.

    Villago Delenda Est

    August 6, 2011 at 1:57 am

    @fuckwit:

    We have become a Mafia state.

    Bush Crime Family, at your service…or actually, you are at ours!

  25. 25.

    WarMunchkin

    August 6, 2011 at 2:45 am

    Awesome Headline, really says it all:

    US media concerned over rating downgrade

    http://www.google.com/hostednews/afp/article/ALeqM5ijk0r1om6SftaEJ9Aejnv9MREbeQ?docId=CNG.7e885139e8a1bc75f092f9aeb91cef25.331

  26. 26.

    lol

    August 6, 2011 at 2:58 am

    Someone should ask Mitt Romney about the $1 million donation his SuperPAC received from Pakistani nationals.

  27. 27.

    dollared

    August 6, 2011 at 3:13 am

    @PanAmerican: This. Or perhaps it’s $1M drop shipped from Joseph Smith himself.

  28. 28.

    mcd410x

    August 6, 2011 at 3:35 am

    Please, someone stop Cole @ the Twitter. He’s hogging all the bandwidth.

  29. 29.

    burnspbesq

    August 6, 2011 at 4:17 am

    @Omnes Omnibus:

    Delaware is fine with an “any lawful purpose” clause in the CofI.

  30. 30.

    Omnes Omnibus

    August 6, 2011 at 4:19 am

    @burnspbesq: Unfortunately, I figured that. One had hopes though.

  31. 31.

    burnspbesq

    August 6, 2011 at 4:20 am

    @Comrade Luke:

    It is a flash mob: ten thousand Benjamins.

  32. 32.

    Xenos

    August 6, 2011 at 4:34 am

    @Omnes Omnibus:

    I wonder what the purpose of this corporation was listed as in its charter.

    It is a Delaware corporation. Is it even possible to look that up?

    Edit – nevermind. Del apparently does not even ask for anything beyond meaningless boilerplate. Gad I hate Delaware.

  33. 33.

    burnspbesq

    August 6, 2011 at 4:47 am

    @Xenos:

    Delaware is far from unique in that regard.

  34. 34.

    Xenos

    August 6, 2011 at 4:57 am

    Now that the race to the bottom is complete, sure, Delaware has a lot of company.

    Did you say somewhere you were opening a new business?

  35. 35.

    burnspbesq

    August 6, 2011 at 4:57 am

    The entire crew at The Reality-Based Community is en fuego these days. Well worth checking out.

    http://www.samefacts.com

  36. 36.

    burnspbesq

    August 6, 2011 at 4:59 am

    @Xenos:

    Opening my own practice on 9/1. Will continue to specialize in international tax planning, transfer pricing, and tax controversies.

  37. 37.

    Xenos

    August 6, 2011 at 5:10 am

    @burnspbesq: Good luck!

    I was going to mention that a big biglaw here in Luxembourg is quietly but desperately trying to hire in your specialty, and you might want to think about being paid in Euros. But it sounds like you are getting what you want where you are.

  38. 38.

    burnspbesq

    August 6, 2011 at 5:12 am

    @Xenos:

    Loyens?

  39. 39.

    Xenos

    August 6, 2011 at 5:17 am

    Christine Lagarde’s old firm, out of Chicago. In my household, they are the competition.

  40. 40.

    Steve

    August 6, 2011 at 9:13 am

    Someone should get the anti-money laundering police interested in this.

  41. 41.

    Dr. Wu

    August 6, 2011 at 10:04 am

    So Mittens is taking laundered money from the Pakistani government now. Nice.

  42. 42.

    Cacti

    August 6, 2011 at 1:20 pm

    I kind of wonder if it wasn’t the Mormon church.

  43. 43.

    Eli Rabett

    August 7, 2011 at 10:18 am

    It’s Mittens old company, Baine or however they spell it.

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