These money laundries, organized as 501(c)(4) groups under the Internal Revenue Code, violate thespiritofthe tax laws and may well violate the letter ofthe law as well.
He had also conveyed the FSA's worries about the bank's culture, including the attitudes of its most senior staff to risk taking, and flouting thespiritof tax laws and banking regulations.
Meanwhile, in the Senate, John Kerry (D-Mass.) and Richard Lugar (R-Ind.) have introduced the Startup Visa Act of 2011, which would reform our visa laws to take the entrepreneurial spiritof immigrants into account.