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Comment Re:Where did the money come from? (Score 1) 159

The problem is that none of the popular stories on AM radio that ask people to be outraged about this are that sort of situation.

There are a few legit outrages. There are people who have had their money seized by the government because all their cash deposits came in under $10k. In a lot of cases the reason they were making smaller deposits is because their insurance company required them to have less than $10k in cash on the premises. Small deposits aren't a crime in and of themselves - it's only a crime if the intent is to evade currency reporting requirements. In general federal agents just assume you're engaged in structuring if you make smaller deposits, but when they do that they're not following the law, and the IRS has had to return the money in hundreds of cases.

Comment Re:Where did the money come from? (Score 1) 159

No, a single transaction just under ten grand isn't illegal. But five transactions over five days, or from five different banks, each just under $10k? That's going to get you into trouble. You could ask Dennis Hastert, if they'll let you visit him in jail.

The sad thing is all structuring requires is intent. If you have $15k, and you decide to split it into two transactions, you have already broken the law independent of whether or not you follow through with the transactions.

Incidentally, that $10k limit is only for certain types of transactions. Other types have lower limits, and there isn't anywhere official you can go to find out what those limits are or what kind of transactions they apply to. Even if nobody at the bank files a Suspicious Transaction Report, your transaction may still go to the government.

Comment Re:And they're still OVERPAID! (Score 1) 606

I doubt they were saying anything they didn't believe. Colleges have put a lot of effort into selling (successfully, IMO) two partially conflicting ideas at the same time: 1) That you need a college degree to get a good job and 2) that you don't go to college to get a good job.

The next generation in my family has reached college age. On one hand it galls me to realize just how much money these kids are going to waste over the next five or six years extending their adolescence. On the other... most well paying jobs really do require college degrees. Yes, it's still possible to strike out on your own and get rich even without a college degree, but most people just don't have the personality it requires.

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