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Republican Lawmaker鈥檚 Tax Break Yacht Was Financed By Foreign Bank - YouTube
Channel: The Ring of Fire
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We, here at Ring of Fire, have told you the
story of Republican Florida congressman Vern
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Buchanan in the past, but in case you didn't
see that or you want a refresher here it is
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in a nutshell.
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Vern Buchanan, Republican representative in
the US House from the state of Florida, last
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year on the same day he voted in favor of
the Republican tax cut package he went and
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signed the paperwork to purchase a new multimillion
dollar yacht.
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The cost of that yacht also happened to be
roughly the same amount that Vern Buchanan
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himself was going to save each year because
of his tax cut package.
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Vern Buchanan is one of the wealthiest members
of the US House of Representatives with a
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net worth estimated around $80 million.
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He owns several companies here in Florida
that he still pulls millions of dollars from,
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and he's benefiting greatly to the tune of
a couple million a year from the tax cut package
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that he passed.
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That's the Vern Buchanan story that we have
told you in the past, everything about that
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is 100% accurate.
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Guess what?
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There were apparently a few missing pieces
to the Vern Buchanan puzzle that investigative
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journalists Andrew Perez and David Sirota
managed to find this week in a report with
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Capital & Main and MapLight.
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They found the missing pieces of the Vern
Buchanan puzzle, and uncovered the fact that
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not only did he buy the yacht, but do you
know who financed the yacht?
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It was a company, BMO Harris Bank, which is
a subsidiary of the Bank of Montreal.
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The BMO Harris Bank is the one that loaned
him the money to buy this yacht because, obviously,
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he didn't have his tax cut money yet, he had
to get it from somewhere to pay back the loan.
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BMO also happens to be one of the biggest
lobbyists for the tax subcommittee that Buchanan
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leads because they were lobbying to get the
tax cut bill passed.
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Now, this isn't just a story of a wealthy
member of Congress passing legislation to
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personally benefit him to go buy a yacht.
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Now, we're looking at potential pay-to-play
because the bank that had been telling Buchanan
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to pass this legislation, lobbying, spending
on it, donating money they're the same ones
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who as soon as he signed it turned around
and said, "Awesome job.
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Let's get you fast tracked on that loan, so
you can pull outta here with that new yacht
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today."
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That's a big issue because now it's not just
a Republican's greed, now we're talking about
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full-blown corruption, possible illegal activity
with a Republican member of Congress.
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That's what's happening now thanks to the
work of Sirota and Perez here.
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As it turns out, Buchanan this was not the
first interaction that he's had with this
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bank, this foreign bank by the way.
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They have also lent him money over the years
for his other businesses.
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It's kind of his go to bank.
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They lobby him, they get what they want, he
gets loans for his businesses.
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He got loans from them for a new, private,
10 person jet a little while ago as well.
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Then, he delivers everything they ask for
when they want legislation passed.
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This is 100% pay-to-play, this is absolute
criminal corruption at the hands of a Republican
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congressman.
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I hope that this story gains traction, I hope
that everybody pays attention to this because
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Vern Buchanan, like every other member of
the US House of Representatives, is up for
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reelection in a couple weeks, and I want everybody
that lives in that district in Florida where
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Vern Buchanan is running to understand that
this man is not only rich as hell and corrupt
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as hell, but his activities in the US House
of Representatives are now bordering on criminal.
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Is that really the kind of person you want
to send to Congress?
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That's the question that his voters need to
be asking themselves right now.
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