One of her top priorities (& her husband's) is to dismantle the Dodd Frank Act. The very act put in place to keep 2008 from happening again. Yet, Criminal-Kelly defrauded the whole country at our lowest point... for greed.

She did it again with COVID.
It's who she is.
@KLoeffler
Sen. Kelly Loeffler helped establish & market that tax dodge and give the banks a new lease on derivatives trading. In 2009, Loeffler was the top communications and marketing officer at ICE, and had been married to the company's founder & CEO, Jeffrey Sprecher, for several years.
They bought a $10.5 million mansion that year.
Sprecher is the chair of the New York Stock Exchange, of which ICE is the parent company. The couple is worth between $800 million and $1 billion, per Forbes
Though ICE pushes back against the notion that its clearinghouse allows companies to avoid U.S. taxation, the new disclosure of its use of Ugland House — for years pilloried & parodied as one of the most egregious examples of an offshore tax dodge in the world —
sharpens questions about the company's true intent.

It also raises questions about the activities of Sprecher and Loeffler, at a time when Americans were reeling amid generational global economic turmoil.
In 2008, high-risk derivatives trading wrecked the global financial system. The complex financial instruments to blame included credit default swaps (CDS), in which lenders essentially sell someone else the risk that a borrower will default on their loan.
CDS trades grew so popular and so widespread that when banks began to fail, it set off a brutal chain reaction around the world.

Just a few months after markets crashed that September, ICE, under Sprecher's leadership, set up an offshore CDS clearinghouse for the largest banks..
in the U.S., as well as foreign banks such as 👉Deutsche Bank, UBS and Credit Suisse. The idea was to add a layer of protection to the trades.
--the United States taxes income earned overseas — at a rate of 35%.

If that money gets reinvested abroad, however, the tax is deferred. In other words, if American companies put profits from their foreign subsidiaries in offshore holding companies, they can access it tax-free.
In 2014, the Joint Committee on Taxation projected the revenue loss from those deferrals @ $83.5 billion, & the nonpartisan Economic Policy Institute estimated in 2017 that deferred taxes on offshore profits will cost the U.S. $1.3 trillion over the next decade, or ~$126 bill/yr.
You tell me how in the hell this woman could ever be fit for a seat in our United States Senate when she has worked fervently against the interests of the US government, the US economy and the millions of Americans who are downwardly affected from those abuses.
Former President Barack Obama remarked of Ugland House in 2008, "Either this is the largest building in the world or the largest tax scam in the world."

Loeffler's forebears in the Senate — Democratic and Republican alike — went after Ugland House by name.
🔥🤬
Sprecher created a system that rewarded the people whose recklessness had destroyed the economy only months earlier. 👉He found a way to give new life to their CDS trades, 👉which had cost millions of Americans their wealth, homes and livelihood. 👈
And @SenatorLoeffler, his wife and ICE's top marketing officer, helped package and sell the product.
It's not just the COVID insider trading, she's working all angles:

More recently, Loeffler and Sprecher appear to have tapped another tax loophole for themselves, in the form of a provision in President Trump's 2017 tax bill that turns private jets into flying tax shelters.
In June 2009, the couple purchased their $10.5 million Atlanta mansion. They call it "Descante" — relax.

Loeffler's campaign did not reply to multiple detailed requests for comment for this article. An ICE spokesperson did not provide comment.
She cannot relate to 99% of the people she would represent. Georgia deserves better than @KLoeffler
We haven't even talked about BAKKT yet.
Her ethical conflicts on top of her criminal grift makes it AMAZING that her name is even on the ballot. But, our equally grifting @GovKemp arranged it for her.

We took our power back in November,
WE HAVE TO TAKE IT BACK AGAIN IN JANUARY!
As long as Loeffler and her husband hold on to their stock, there are no easy solutions—even recusal can cause complications for a legislator.
forbes.com/sites/michelat…
“If she recuses because of a conflict of interest arising from her husband’s business, it also means that Georgia has 50% less of a voice in what happens,” says Donald Sherman, former chief oversight counsel for the House Committee on Oversight and Government Reform. ⬇️
“In a divided government, with a closely divided Senate, one vote can certainly be decisive. It’s a disadvantage to folks back home if their senator has a conflict.”

/end

VOTE HER OUT!

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Frog Legs 🐸

Frog Legs 🐸 Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @100FrogLegs

21 Nov
I don't even know how to fully explain how I got here (I'm going to blame Ming😜) but I'm just sharing this info and you can do as you please.

You may recall seeing this logo around Twitter? It's for the logo for News Break. There's also a News Break App you can get.
I am not here to judge anyone for using that app or to persuade you otherwise. I was simply trying to read on some south GA pig farmers 🐷😂 (I know you want my life) and articles kept popping up with that news source. It was bugging me so I looked them up.
We're always questioning news sources so I'm sticking it here for whoever and also for me to come back to cause, I'll forget.

News Break, a news app founded by China’s media veteran Jeff Zheng, with teams in Beijing, Shanghai, Seattle ⬇️
techcrunch.com/2020/05/27/mee…
Read 9 tweets
19 Nov
@Standupchai @kylegriffin1 He keeps f*cking yapping.
Keeping that narrative in the air.
STFU Brad.

hang on...
@Standupchai @kylegriffin1 Raffensperger dismissed the criticism from the senators, saying it was driven by their need to turn out the president’s base. “Most likely that was it,” Raffensperger said.

So, @SenatorLoeffler & @Perduesenate were gaslighting Georgians when asking @GaSecofState to resign?
@Standupchai @kylegriffin1 @SenatorLoeffler @Perduesenate @GaSecofState Got it.

So, what does that say about the integrity of our two Senators? That they will lie and claim election fraud vs. speaking the truth just so they can deceive their base to win?
Read 13 tweets
17 Nov
Cienfuegos was arrested by U.S. officials on 15 October 2020 at Los Angeles International Airport on drug and money-laundering charges. He was found to have used the alias "El Padrino" ("The Godfather") while working with the H-2 Cartel
The U.S. investigation was apparently kept secret from Mexican authorities, leading to questions here about trust between the two countries and speculation that other officials could be targets of similar inquiries.
latimes.com/world-nation/s…
Read 11 tweets
17 Nov
OK, Ima ask y’all to put on your peach colored glasses for a minute to get some GA perspective.

Kemp
GA GOP
Wiped server
Kislyak
McConnell
Trump
Barr
Ayers
Rove
Ronna
Sonny
Dominion
Loeffler
Insider Trading
2 DOT grants
$100 million DOJ grant
SCOTUS
Mob
Russian mob

GA SoS
Dark money
Suppression
Purged voter rolls
Abrams
False hacking claims
Lawsuit
Last minute software patch
Long lines
Closed voting locations
Missing cords
35% African American
Racism
Biden
Virus
Mayor Bottoms
No masks
Bad data
Early reopening
GOP donors
Fulton
Gwinnett
Cobb
Dekalb
Clayton
Chatham

Are y’all feeling what I’m throwing down?

There are NO victims in the GA GOP Senate runoff. Their game IS narrative. Image
Read 4 tweets
27 Oct
And the American people have to clean this shit up?
Really?

Neil Gorsuch.
Brett Kavanaugh.
Amy Coney Barrett.
All came to Trump from a man named Leonard Leo. We discovered he is also the sole trustee of a mysterious group that brought in more than $80 million in 2018.
Nobody else wants to assume any fuqqing responsibility for handing over our democracy?

The SILENCE and passive governing has caused the death of our democracy. Stop putting this fuqqing sh!t on the voters.
People can't vote on what is NOT KNOWN.
I'm angry.
I'm F*CKING RAGING!
No, this wasn't the fault of the American people.
I dare you to fuqqing say it ever again.
Read 5 tweets
26 Oct
This actually should be front and center today. Who else has reviewed this?
If Media won't make it the issue it is, then we must. Please get loud about this.
thehill.com/homenews/media…
Here's the list of conditions that are considered pre-existing. Also, our kids cannot remain on our insurance once they are 19.

19 ‼️ Some are still in high school at 19.
A great number are starting college.
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!