Tonight's Friday Night Video is a collection of news and interview clips that need to be seen to be believed. The first is a report from NBC Rock Center on how people are getting their identities stolen and then ripped off. If that wasn't bad enough, identity thieves are filing bogus tax returns and collecting the refunds. Identify theft is now ruining millions of people's lives and costing billions in lost tax revenues to boot.
The next story clip is also from Rock Center on Carnival Cruises. The floating packed sardine cans known as Carnival cruises are costing millions in taxpayer funded coast guard rescues. Yet Carnival Cruises is headquartered in tax haven Panama and that means they don't pay hardly a dime in corporate taxes The story typifies the privatize the profits socialize the cost corporate welfare that has become the norm in the United States.
This final video is an interview from Bloomberg law where sovereign debt guru Lee Buchheit tells Bloomberg Cyprus might need yet another bail out. I guess they will be picking the pockets of the dead for the next one.