Cruz Crushes Trump, Iceland Leader Falls
Wednesday, April 6, 2016
Vol. 5, No. 97
The Meaning of it All: The Republicans increasingly look as if they are headed for an open and contested convention this summer after Ted Cruz crushed Donald Trump 48-35 percent in the Wisconsin primary. Bernie Sanders badly beat Hillary Clinton 57-43 percent to win among Democrats, but he’s still too far behind to overtake Hillary Clinton.
Now the numbers. Trump will have to win 62 percent of all remaining delegates to hit 1,237, the number that would give him the Republican nomination on the first vote. So far his average win rate is about 46 percent. Ted Cruz called his win a “turning point,” which in a way it is, but even if he takes all remaining delegates he can’t lock up the nomination.
Bernie Sanders trails Hillary Clinton by 149 elected delegates and many more when you count super delegates pledged to Clinton.
Don’t Need No Edyukayshun: Donald Trump announced yesterday that he would force Mexico to pay for his celebrated border wall by cutting off all money transfers from illegal immigrants home to Mexico. Trump said he would require companies like Western Union to verify a customer’s identity and citizenship before making a money transfer. He said cutting off the $25 billion annual cash infusion to Mexico would motivate the country to write a $5 to $10 billion check for the wall. President Obama said, “Good luck with that.”
The Tax Tailor of Panama: Iceland’s Prime Minister Sigmundur David Gunnlaugsson abruptly resigned yesterday in the wake of revelations about his personal finances detailed in the so-called “Panama Papers.”
Gunnlaugsson’s wife owns a company in the British Virgin Islands that managed and lost millions of dollars belonging to three Icelandic banks that collapsed in the worldwide financial crisis. The Prime Minister sold his interest in the company to his wife for $1 just before he would have been legally required to admit his involvement and instead, got busy negotiating for the return of $4.2 million from the Icelandic banks. If not a crime, as Prime Minister, it was certainly a conflict of interest.
Gunnlaugsson is the first notable figure to take a fall as the result of 11.5 million documents involving 14,153 clients leaked from a Panamanian law firm that specializes in offshore tax dodges.
Among those implicated are Vladimir Putin’s close circle of financial cronies, soccer star Lionel Messing, and Hong Kong martial arts actor Jackie Chan. The Panama papers have laid bare a world everyone knew existed but has not seen in such detail, a world in which the rich and powerful dodge taxes.
The reaction from corrupt autocrats, Putin among them, has been “so what of it?” China, though, has been on a selective campaign to rout out corruption and might have to take action.
It’s interesting to note that few if any Americans are on the client list. The US is quickly becoming the new Switzerland where money is easily stashed out of reach of the taxman.
Dynasty: The UConn women beat Syracuse 82-51 last night to win their fourth straight NCAA title. Coach Geno Auriemma now has 11 national titles.
Southern Gothic: Mississippi Gov. Phil Bryant yesterday signed a law that allows businesses to refuse service to gay couples based upon religious objections. The bill says businesses may act based upon “sincerely held religious beliefs or moral convictions.” The law also defines a person’s gender as that “determined by anatomy and genetics at time of birth.”
Rocky Raccoon: The Tennessee legislature has passed a law designating “the Holy Bible as the official state book.” It doesn’t say which version, but assume it’s not the 1649 Giovanni Diodati version, which isn’t popular in Tennessee. The bill now goes to the governor for signing.
Family Values: The Alabama legislature has begun impeachment proceedings against Gov. Robert Bentley, a family values politician accused of having an affair with a married aide.
The Social Network: Twitter announced that it will begin live streaming National Football League games next fall. Comedian James Corden said Facebook will compete by continuing to put posts about your ex girlfriend on your news feed.
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