Articles Tagged with funds

solar-fish-300x225Solar Fish was reported by FTI Consulting to have received a payment of $355 million from six different parties. While on the surface it comes off as a simple financial transaction, this payment is suspected to be for the sale of a number of Russian fishing firms that the company controlled in secrecy.

Solar Fish is a company that has previously been at the center of trade finance fraud that went above $5 billion. Now caught up in this new scandal, there is a risk of deep reprehension.

The $354.5 million the company received from the six parties was exchanged between Jan. 28, 2013 and Feb. 5, 2013, with a strong chance this was from the sales of a pollock and herring catching firm, now known as Russian Fishery Company (RFC).

social-security-300x170We recently published a blog on the impending crisis concerning funding of Medicare and Social Security benefits. The numbers of inquiries on this were substantial so I am writing additional information on the problem.

One issue is that Congress appears reluctant to address the issue especially given the coming Presidential election and the obvious effect changes would have on the deficit budget if the present systems are maintained. Government officials that oversee the future of Medicare and Social Security have discovered troubling facts concerning the future of these essential programs. Medicare is likely to become insolvent by the year 2026, while the insolvency of Social Security is estimated for some time in 2035. No solutions have been proposed as of this date but concerns are increasing because any structural changes must be well planned and funded which will require consensus building and focus on details.

Medicare and Social Security are both factors of the United States financial support system that use government reserves in order to provide vital assistance to those in need, in particular, the sick and elderly.