Brilliant. He was 38 at 1992 according to the article.... and he's how old now??? Fucking idiot.
On Oct 16, 5:56 pm, wncs <[EMAIL PROTECTED]> wrote: > Wurzelbacher, Wurzelbacher, where do I know the name from? It sounds > so familiar....Oh! Now I remember, Robert Wurzelbacher pleaded guilty > to fraud in connetion with the savings & loan scandal. Gosh, wonder > how common that name is? > > ******** > A son-in-law of Charles H. Keating Jr. pleaded guilty today to three > Federal fraud counts in connection with the collapse of the Lincoln > Savings and Loan Assocation and agreed to cooperate with prosecutors > as they pursue their case against Mr. Keating. > > The guilty plea was the sixth from executives and business associates > of Lincoln and its parent company, but was the first crack in what > until now had been a united Keating family defense against the charges > in the case. > > Mr. Keating and a son, Charles H. Keating 3d, still face an array of > fraud and racketeering charges brought against them in a 77-count > Federal indictment issued last year. Their trial is scheduled for > August in Federal District Court here. Mr. Keating was convicted last > year on separate fraud counts in a California state court and is > serving a 10-year prison sentence. Bad Loans to a Hotel > > The guilty plea today was from Robert M. Wurzelbacher Jr., who had > been a senior vice president of Lincoln's parent company, the American > Continental Corporation of Phoenix, and the chief executive of an > investment firm owned by Lincoln Savings. Mr. Wurzelbacher, who is 38 > years old, is married to the former Elizabeth Keating, one of Mr. > Keating's daughters. > > Mr. Wurzelbacher pleaded guilty before United States District Judge > Mariana Pfaelzer to three felony counts of misapplication of federally > insured funds. The charges were not among those made against Mr. > Wurzelbacher in last year's Federal indictment. > > His guilty plea involved charges arising from $13 million in loans and > advances made by Lincoln Savings, which was based in Irvine, Calif. > The money went to a limited partnership that owned and operated the > Hotel Pontchartrain in Detroit. > > Mr. Wurzelbacher and other officers and employees of Lincoln and > American Continental, including Mr. Keating and his son, were partners > in the limited partnership, according to court documents. > > The prosecutors said that in pleading guilty Mr. Wurzelbacher admitted > that he and other Lincoln and American Continental executives had made > the loans and advances knowing that they probably would not be repaid > and were not in Lincoln's best interests. > > Prosecutors said that the hotel suffered large losses, but that the > limited partnership generated substantial tax benefits for Mr. > Wurzelbacher and the other limited partners. > > In all, Lincoln suffered losses of more than $23 million on loans to > the hotel, according to a civil suit against Mr. Keating filed last > year by the Resolution Trust Corporation, the Federal savings and loan > bailout agency. > > Mark Beck, a lawyer for Mr. Wurzelbacher, said that in pleading guilty > to three counts his client would not be subject to the strict > sentencing guidelines that would apply to the charges in the > indictment. > > "It was not an easy decision, but he had to keep in mind that as the > father of two grade-school children he faced substantial consequences > if the defense was unsuccessful at trial," Mr. Beck said. > > Lincoln was seized by Federal regulators three years ago just after > American Continental filed for bankruptcy protection. Lincoln's > collapse is expected to cost taxpayers $2.6 billion. Mr. Keating, > unfairly in his view, has come to embody the political influence > peddling, mismanagement and fraud that pervaded the savings and loan > industry. > > As part of his plea, Mr. Wurzelbacher agreed to cooperate with the > continuing investigation of Lincoln by the United States Justice > Department and a host of state and local law-enforcement and > regulatory agencies, said David A. Sklansky, an assistant United > States attorney who is prosecuting the case. > > Mr. Sklansky said the Government had also agreed to move for dismissal > of all the counts against Mr. Wurzelbacher in the Federal indictment. > Mr. Wurzelbacher could be sentenced to as many as 15 years in prison > and fined as much as twice the loss caused by his actions. > > http://query.nytimes.com/gst/fullpage.html?res=9E0CE6DF173DF935A25756... > > On Oct 16, 10:50 am, Kamakazee <[EMAIL PROTECTED]> wrote: > > > > > Joe The Plumber: Obama Tax Plan 'Infuriates Me' > > > ABC News' Teddy Davis Reports: > > > John McCain may have found a blue-collar face to help him argue that > > no American -- not even the richest 5 percent -- should pay higher > > taxes. > > > "Joe The Plumber" has weighed in on Wednesday's presidential debate > > and he says that Barack Obama's tax plan "infuriates me." > > > "To be honest with you, that infuriates me," plumber Joe Wurzelbacher > > told Nightline's Terry Moran. "It's not right for someone to decide > > you made too much---that you've done too good and now we're going to > > take some of it back." > > > "That's just completely wrong," he added. > > > Wurzelbacher, who says no one from the McCain campaign got in touch > > with him before Wednesday, was a centerpiece of the third and final > > presidential debate. > > > The plumber's brush with fame began on Sunday when he confronted > > Barack Obama outside of Toledo, Ohio. Wurzelbacher challenged the > > Democratic candidate on his plan to raise taxes on the top five > > percent of earners -- a policy which would, by the Obama campaign's > > own estimation, mean higher taxes for 184,000 small businesses. > > > "I'm getting ready to buy a company that makes 250 to 280 thousand > > dollars a year," Wurzelbacher told Obama. "Your new tax plan is going > > to tax me more, isn't it?" > > > Under Obama's plan, individuals making more than $200,000 per year, > > or > > couples making more than $250,000 per year, would pay higher taxes on > > income, capital gains, and dividends. Starting ten years from now, > > Obama supports an additional 2-4 percent tax on individual income > > above $250,000 per year to help shore up the Social Security system. > > > To evaluate how Wurzelbacher and his wife would fare under Obama, one > > would need to know his wife's income (if any) plus what the plumber > > meant when he told Obama that the company he is getting ready to buy > > "makes" $250,000 - $280,000 per year. > > > Was Wurzelbacher referring to gross revenue or net profits? > > > Obama's higher taxes on small businesses would be leveled against > > those whose net profits exceed $250,000 per year, according to > > Obama's > > campaign. > > > While at least 184,000 small businesses would face higher taxes under > > Obama, the Illinois Democrat is also proposing a series of tax > > credits > > that could aid small businesses. > > > Obama has proposed a $3,000 tax credit for every new job that > > companies create in the United States over the next two years, a > > small > > business health tax credit on up to 50 percent of employee premiums > > paid by employers, and elimination of capital gains taxes on > > investments in small and start-up businesses. > > > Regardless of how Wurzelbacher would personally fare under the > > candidates' plans, he suggested to ABC News' Nightline that he is > > against all forms of progressive taxation. > > > During his telephone interview with ABC News, the Ohio plumber argued > > that the government should not tax some more than others and argued > > that this principle should extend not only to Americans at his > > income- > > level but also to the world's richest man. > > > "I don't like it," said Wurzelbacher. "You know, me or -- you know, > > Bill Gates, I don't care who you are. If you worked for it, if it was > > your idea, and you implemented it, it's not right for someone to > > decide you made too much."- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
