[kattracks]

How is this money laundering?

[Hank Rearden]

Ok, so if he didn't take out $10,000 or more he didn't need to be reported.

The Feds can shove it up their butt on this and pretty much every issue. I'm sick to death of any damn thing they want to be a crime, if only they trot out some moldy old, obscure statute someplace.

These parasites need to be fired.

[Dajjal]

BTTT

[BlackbirdSST]

How is this money laundering?

Welcome to the WoD's! US anti drug war types have been asking these kinds of questions for more than a decade. When will his properties be seized and auctioned off? Blackbird.

[greasepaint]

First of all, I would call what Lim. did
'money unlaundering'.
However, several withdrawls of 9 grand; with the intention of skirting (being reported by) the 10 grand cash reporting law*, and with the
intention of comitting a crime, that might be a
crime in Florida. Does Lim. still maintain that he
will cooperate with authorities...as he (or his spokesman?)
said he would do shortly before he went to rehab?
*I believe this law applies to fin.institutions

[japaneseghost]

do you guys REALLY NEED ME to send you the links to where you can legally buys narcotics online???

I mean REALLY.

Hellooooo...... you guys ever heard of WWW.DRUGBUYERS.COM

If I, or Joe Blow in Iowa can buy whatever we want online, EXPRESS SHIPPING, why should Rush or Jeb Bush's daughter (that POOOR GIRL) be so made into demons by the lamestream media.

Can't these guys google?

[Maurice Tift]

Banks must report withdrawals of $10,000 or more to the federal government.

We can't have this! People taking 10,000 out of the bank! Why, if everyone took $10,000 out of the bank, it would drive the Feds nuts!

[onyx]

FGS! It's NOT money laundering. In fact, Rush or anyone else is free to deposit or to withdraw any amount of cash under $10K without the bank having to report the transaction to the IRS. In the past, I've done the same thing many times. For Rush, this is petty cash --- walking around money. Another attempt by his enemies to smear him.

[AmericaUnited]

If you take out lower amounts (<$10,000) in multiple transactions, for the express purpose of not having the transaction get reported, that is called "structuring" and is a "problem".

Of course, they have to prove that your motive was evil.

[mewzilla]

OFGS. Okay, I've had it. Let's just out ever darn drug abuser in the media, why don't we. That should take care of this. And somehow I don't think they pay for their drug habits with bake sales.

[Rebelbase]

The character assasination by the leftist media continues.

[AppyPappy]

How is this money laundering?

Don't ask questions. You'll just get confused. Just believe.

[gulfcoast6]

They won't give up will they.

[RWG]

Roy Black-was he the slime that got the kennedy kid to slide on the rape charge?

[tiki]

This is just sensationalism. I'm pretty sure that the law is that you can't DEPOSIT more than 10,000 without the bank reporting it to the Feds. If it was once in the bank, it was already accounted for and traceable for tax purposes. Laundering is whan you try to make ill-gotten money appear to be legitimate.

[WildWeasel]

I thought it was the bank's responsibility to report large withdrawals, not the account holder. Besides, if Limbaugh withdrew money below the limit required for reporting, where's the crime?

[wai-ming]

This is ridiculous.

If a person wants to deposit or withdraw money from his own account, why does the government have to be involved? It's none of their business.

[joyce11111]

How is this money laundering?

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Kattracks.

When I read this I wondered the same.....this story does have the klintoon finger prints all over it.

[Jimmy Valentine]

It isn't. In and of itself, withdrawing any amount of cash over $10,000 is not a crime. It is routinely reported on a currency transaction form but that is all.

These people need to get their act together and stop trying to convict Limbaugh of a trumped up crime. SHHEESH!

[Ron in Acreage]

So if you consistently drive 69 mph on a highway with a 70mph speed limit, you are intentionally obeying the law to avoid a ticket. By withdrawing less than $10k you are "intentionally" OBEYING the law to avoid red flags at the feds. What's the crime? If they want the law to be $9,900, they should change it. By not drinking and driving you are also "intentionally" OBEYING the law to avoid a DUI. This is a load of crap.

[goldstategop]

Money Laundering is an attempt to conceal the financial fruits of a crime by making it look legal. Its not the reporting of the transaction that has Rush in trouble; its the structuring of the withdrawals to avoid the bank's reporting duty that might sink him. You can withdraw maybe one time under $10,000 and that's not "structuring" but if you do $30 or $40 as has been alleged here, a red flag goes up. Rush and his attorney better having a convincing explanation of what he did shouldn't so that it won't be viewed as a felony. And structuring deposits and withdrawals to avoid triggering the $10,000 requirement is obstruction of the law and illegal. This isn't a state issue but a Fed one and to all practical intents and purposes, every financial institution in America is a government agent when it comes to determining whether financial transactions are conducted in the furtherance of a crime or other possible violation of the law.