Former United States Senator John Edward Sununu…

…has joined the board of a subsidiary to Bank of New York Mellon — a firm that, in addition to receiving bailout funds, has been hired by the Treasury Department to administer the program.

—-
The Sprintin’ Sununu Board Game
By Dean Barker, Blue Hampshire
March 4, 2009 – 05:00 am

View the original

The Sprintin’ Sununu Board Game, 1st Edition.

The Sprintin’ Sununu Board Game 2nd Edition:

NEW YORK, Feb. 25 PRNewswire-FirstCall — BNY ConvergEx Group, LLC, a leading provider of global agency brokerage and investment technology solutions, today announced that former United States Senator John Edward Sununu has been appointed to the Board of Managers of ConvergEx Holdings, LLC, the holding company of BNY ConvergEx Group.

…He currently is a member of the Congressional Oversight Panel created to oversee the expenditure of Troubled Asset Relief Program (TARP) funds and to provide recommendations on regulatory reform.

The Sprintin’ Sununu Board Game, 2nd Edition (recalled):
John Sununu, who serves on the Congressional Oversight Panel monitoring the government’s bailout progam, has joined the board of a subsidiary to Bank of New York Mellon — a firm that, in addition to receiving bailout funds, has been hired by the Treasury Department to administer the program.

( http://www.politicker.com/new-hampshire/62553/sprintin-sununu-board-game )

Former U.S. Senator Connie Mack is joining the board of directors of American Momentum Bank

( http://www.bizjournals.com/tampabay/stories/2007/03/05/daily51.html )

former U.S. Senator Adlai Stevenson III Co-Founder of HuaMei Capital Co. (HMCC)….

HuaMei Capital Co. (HMCC), a financial services advisory firm based in Chicago with three offices in China, began operations earlier this year. It is a unique 50-50 U.S.-China joint venture. The company’s founders, former U.S. Senator Adlai Stevenson III and Leo Melamed, Chairman Emeritus of the Chicago Mercantile Exchange, discussed HMCC’s goals in a recent conversation.

( http://www.thedeal.com/pdf/EOC_Winter07.pdf )

================================

HuaMei Capital Company principals and officers ….

OUR TEAM

HMCC was organized in May 2005 by Adlai E. Stevenson III, former U.S. Senator and chairman of SC&M Investment Management Corporation and Co-Chairman of Stevenson, Melamed & Associates, Leo Melamed, chairman and CEO of Melamed & Associates, co-chairman of Stevenson, Melamed & Associates and the recognized founder of financial futures markets, Roger Kumar, an analyst and fund manager who is president of SC&M Investment Management Corporation, and Phillip Goldstick, a former Illinois legislator and advisor to government officials and chairman of G Equity Investment Group, Ltd., a registered broker-dealer participating in Private Placements.

( http://www.huameicapital.com/index.php?option=com_content&view=category&layout=blog&id=4&Itemid=5 )

=======================================

Adlai E. Stevenson, 78, a former US Senator, is Chairman of SC&M Investment Management Company and Chairman of the Adlai Stevenson Center on Democracy.

http://www.adlai3.com

- Former U.S. Senator Tom Daschle’s…
$1 million-a-year consulting contract with the New York-based firm [InterMedia Advisors LLC.]

- Former President Bush and ex-U.K. Prime Minister John Major have advised the firm [Washington-based Carlyle Group]

- John Snow as its chairman and former Vice President Dan Quayle as chairman of its international unit [Cerberus Capital Management LP].

- French president Nicholas Sarkozy’s half brother, Olivier Sarkozy, works alongside Quarles at Carlyle Group as head of Carlyle’s Global Financial Services group.

——–
Wednesday, February 4, 2009
The Revolving Door Between Wall Street and Upper Echelon Government

Bloomberg recaps, the goings on:

Former U.S. Senator Tom Daschle’s…$1 million-a-year consulting contract with the New York-based firm [InterMedia Advisors LLC.]highlights how buyout firms often turn to former politicians to court investors and make deals. Former President George H.W. Bush, ex-Treasury Secretary John Snow and former Senate Majority Leader William Frist have all worked for private-equity funds…

Washington-based Carlyle Group helped pioneer the use of former government officials as fund raisers and dealmakers. Former President Bush and ex-U.K. Prime Minister John Major have advised the firm, and its ranks currently include former U.S. Treasury Undersecretary Randal Quarles.

Cerberus Capital Management LP, the New York-based firm that owns Chrysler LLC, counts John Snow as its chairman and former Vice President Dan Quayle as chairman of its international unit.

Not to be forgotten is that French president Nicholas Sarkozy’s half brother, Olivier Sarkozy, works alongside Quarles at Carlyle Group as head of Carlyle’s Global Financial Services group.

Labels: CarlyleGroup, OliverSakozy, RandalQuarles, TomDaschle

( http://www.economicpolicyjournal.com/labels/RandalQuarles.html )

“DUE DILIGENCE” VERSUS THE STATUTE OF LIMITATIONS 1 minute ago Marv Eatinger Says:
April 15th, 2009 at 8:54 am
Anonymous – reply to your response #20:

If a fraud is on going, every time an event is created in order to cover up a past fraudulent act the statute of limitations is tolled & starts over.

“In cases where a cause of action has been fraudulently concealed, the statute of limitations is tolled until the action is, or could have been, discovered through the exercise of due diligence. ”

Daleco Resources Corp committed many frauds. It all started in May of 1984 with their 20F filing with the SEC. An ex-SEC lawyer (MARIO V. MIRABELLI NOW WITH PATTON BOGGS) who was the managing partner of Shea & Gould law firm took his proprietary knowledge of how the SEC handles the filings of public companies and manipulated Daleco’s SEC filings for the years of 1984, 1985, 1986 & 1988 into different branches of the Division of Corporate Finance in order to cover up the accounting fraud that Daleco’s management conspired with its auditors (COOPERS & LYBRAND ACCOUNTING FIRM) in order to steal at least $30,000,000 + of oil & gas properties and leave the public stockholders without a clue as to what actually happened. Shea & Gould dissolved with a special night meeting of partners in January of 1994, one week after I had sent them my third certified letter over a period of two years. They never answered any of my certified letters!

In January of 1991 the fraud division of the Fresno California IRS service center sent me a letter assigning a claim no. 95-52791-1 to my submission of 19 form #211’s having to do with entities associated with Daleco Resources Corp. In the letter of assigning the above IRS claim number the IRS stated that “As soon as we have completed our investigation and evaluation, we will notify you. Please let us know if you change your address.” This letter was signed by Theron C. Polivka Director, of the Service Center. To this day I have not been able to find out what has happened to my claim number and is it active or not active!

It is always possible that the Federal Government would just as soon look the other way because Daleco exposes all the loopholes and weaknesses of the regulatory authorities in the 1980’s & 1990’s. But this case is on going and that is why I am committed to hang in there.

Marv Eatinger

“In cases where a cause of action has been fraudulently concealed, the statute of limitations is tolled until the action is, or could have been, discovered through the exercise of due diligence. ”

IF SEC SCRUTINY (SEC “DUE DILIGENCE”) OF DALECO’S VIOLATIONS CONCERNING SECURITIES FRAUD WAS CIRCUMVENTED BY MARIO V. MIRABELLI’S (SHEA & GOULD LAW FIRM) ABILITY & PROPRIETARY KNOWLEDGE OF HOW THE SEC HANDLES PUBLIC CORPORATION FILINGS, WOULD A COURT OF LAW DECIDE THAT PUBLIC INVESTORS IN DALECO RESOURCES CORP HAD NO RECOURSE BECAUSE THE STATUTE OF LIMITATIONS HAD RUN ITS COURSE? IF THE SEC HAD NO IDEA AS TO DALECO’S SECURITIES FRAUD VIOLATIONS, COULD A PUBLIC STOCKHOLDER IN DALECO BE EXPECTED TO PERFORM A LEGAL ASPECT CALLED “DUE DILIGENCE” ??

http://www.cnbc.com/id/22659152

Greenspan, Rubin and Summers Silenced The Woman Who Could Have Prevented This Financial Mess…

The Woman Who Could Have Prevented This Financial Mess Was Silenced by Greenspan, Rubin and Summers

By Katrina vanden Heuvel, TheNation.com. Posted October 11, 2008.

A sad tale emerges of willfully arrogant behavior designed to undermine a wise woman’s good judgment.

“Break the Glass” was the code-name high-level Treasury Department figures gave the $700 billion bailout; it was to be used only as a last-resort measure.

Now millions have been sprayed and damaged by broken glass.

But more than a decade ago, a woman you’re likely never to have heard of, Brooksley Born, head of the Commodity Futures Trading Commission — a federal agency that regulates options and futures trading — was the oracle whose warnings about the dangerous boom in derivatives trading just might have averted the calamitous bust now engulfing the US and global markets. Instead she was met with scorn, condescension and outright anger by former Federal Reserve Chair Alan Greenspan, former Treasury Secretary Robert Rubin and his deputy Lawrence Summers. In fact, Greenspan, the man some affectionately called “The Oracle,” spent his political capital cheerleading these disastrous financial instruments.

On Thursday, the New York Times ran a masterful and revealing front page article exposing the culpability of Greenspan, Rubin and Summers for the era of dangerous turbulence we live in.

What these “three marketeers” — as they were called in a 1999 Time magazine cover story — were adept at was peddling the timebombs at the heart of this complex crisis: exotic and opaque financial instruments known as derivatives — contracts intended to hedge against risk and whose values are derived from underlying assets. To cut to the quick, Greenspan, Rubin and Summers opposed regulating them. “Proposals to bring even minimalist regulation were basically rebuffed by Greenspan and various people in the Treasury,” recalls Alan Blinder, a former Federal Reserve board member and economist at Princeton University, in the Times article.

In 1997, Brooksley Born warned in congressional testimony that unregulated trading in derivatives could “threaten our regulated markets or, indeed, our economy without any federal agency knowing about it.” Born called for greater transparency — disclosure of trades and reserves as a buffer against losses.

Instead of heeding this oracle’s warnings, Greenspan, Rubin & Summers rushed to silence her. As the Times story reveals, Born’s wise warnings “incited fierce opposition” from Greenspan and Rubin who “concluded that merely discussing new rules threatened the derivatives market.” Greenspan deployed condescension and told Born she didn’t know what she doing and she’d cause a financial crisis. (A senior Commission director who worked with Born suggests that Greenspan and the guys didn’t like her independence. ” Brooksley was this woman who was not playing tennis with these guys and not having lunch with these guys. There was a little bit of the feeling that this woman was not of Wall Street.”)

In early 1998, according to the Times story, one of the guys, Larry Summers, called Born to “chastise her for taking steps he said would lead to a financial crisis. But Born kept at it, unwilling to let arrogant men undermine her good judgment. But it got tougher out there. In June 1998, Greenspan, Rubin and the then head of the SEC, Arthur Levitt, Jr., called on Congress “to prevent Ms. Born from acting until more senior regulators developed their own recommendations.” (Levitt now says he regrets that decision.) Months later, the huge hedge fund Long Term Capital Management nearly collapsed — confirming some of Born’s warnings. (Bets on derivatives were a key reason.)

“Despite that event,” the Times reports, ” Congress (apparently as a result of Greenspan & Summer’s urging, influence-peddling and pressure) “froze” Born’s Commissions’ regulatory authority. The next year, Born left as head of the Commission. Born did not talk to the Times for their article.

What emerges is a story of reckless, willful and arrogant action and behavior designed to undermine a wise woman’s good judgment. The three marketeers’ disdain for modest regulation of new and risky financial instruments reveals a faith-based fundamentalist approach to the management of markets and risk. If there is any accountability left in our system, Greenspan, Rubin and Summers should not be telling anyone how to run anything. Instead, Barack Obama might do well to bring back Brooksley Born and promote to his team economists who haven’t contributed to the ugly mess we’re in.

Katrina vanden Heuvel is editor of The Nation.

( http://www.alternet.org/workplace/102559/the_woman_who_could_have_prevented_this_financial_mess_was_silenced_by_greenspan,_rubin_and_summers/ )

Former U.S. senator and Law & Order television star Fred Thompson…

Also not selling are any of Nasdaq’s corporate officers and directors. One of the more notable directors is former U.S. senator and Law & Order television star Fred Thompson. Thompson was named to Nasdaq’s board last May and owns 7,541 shares.

( http://www.thestreet.com/_tsclsii/markets/matthewgoldstein/10207941_2.html )

Wendy Gramm, wife of the former U.S. Senator from Texas Phil Gramm.

…
We also know that large numbers of the politically well connected were bought and paid for by Enron. Virtually every legislator and office holder of consequence in the State of Texas received campaign contributions from Enron. Likewise, at the national level Enron and its partner in crime, auditing firm Arthur Andersen, spread their largesse far and wide in a largely successful attempt to free the company from federal oversight and regulation. Perhaps the most egregious example of the corrupting effect of these contributions is the case of Wendy Gramm, wife of the former U.S. Senator from Texas Phil Gramm.

Wendy Gramm served as chairwoman of the Commodity Futures Trading Commission from 1988 to 1993. Shortly before her departure from this post she pushed through a key regulatory exemption that ensured that Enron’s electricity trading operations would not be subject to CFTC oversight. Five weeks later she was appointed to a lucrative post on the Enron board of directors. Meanwhile, her husband Phil was collecting campaign contributions from Enron that totaled nearly $100,000. Ms. Gramm served on the audit committee of the Enron board. Obviously, with her background and experience, she was in a good position to understand that Enron was misleading the public about the financial condition of the company. Perhaps this is why Phil Gramm chose not to run for reelection this year.
…
( http://irascibleprofessor.com/comments-01-28-02-epr.htm )

Chuck Hagel, former U.S. Senator from Nebraska…

Hagel heads to McCarthy

Chuck Hagel, former U.S. Senator from Nebraska, has agreed to join Omaha, Nev.-based private equity firm McCarthy Group as a senior advisor. He will maintain offices in Omaha and Washington, D.C.

( http://www.pewnews.com/story.asp?sectioncode=39&storycode=46712&c=1 )

Former U.S. Senator and Ambassador to Germany Dan Coats…

Secretive Cerberus keeps a high profile on K Street
By Laurie Bennett
September 4, 2008 at 10:27am

Cerberus Capital Management, once touted for its daring investments in Chrysler and GMAC, is now struggling to avoid tremendous losses, according to The New York Times.

Yesterday, Chrysler announced that U.S. sales fell by a third last month. In a one-two punch, GMAC said yesterday that its home loan division would dismiss 60 percent of its employees – 5,000 people – in an effort to minimize losses caused by the mortgage crisis.

As the Times notes, company CEO Stephen A. Feinberg, who founded the hedge fund with $10 million in 1992, keeps a low profile.

But in Washington, Cerberus maintains a major presence, paying seven lobbying firms and former U.S. Sen. Jake Garn to represent its interests before Congress.

Former Treasury counsel Arnold I. Havens, now a partner with Jones Walker, represents the firm on banking and transportation issues.

Former U.S. senator and ambassador to Germany Dan Coats, now senior counsel at King & Spalding, represents Cerberus on banking regulation.

Patton Boggs argues for the company on auto emissions legislation. Stanley B. Parrish, former chief of staff to Sen. Orrin Hatch, represents it on auto-related matters.

Cerberus itself has registered as a lobbyist. The company reported spending $2.5 million on lobbying activities last year.

The company has worked against hedge fund regulation and has supported members of Congress who feel the same way. When Sen. Richard Shelby, then chairman of the Senate Banking Committee, criticized hege funds in 2003, Cerberus threw a fundraiser for Shelby’s leadership PAC. Ine a single day, The Hill reported, company executives and colleagues contributed $99,500.

Thus far in 2008, company execs are among the top contributors to Republican congressmen Tom Reynolds, Joe Knollenberg and Fred Upton. They have also given to two Michigan Democrats who hold sway on auto legislation: Sen. Carl Levin and Rep. Carolyn Cheeks Kilpatrick of Detroit.

( http://news.muckety.com/2008/09/04/secretive-cerberus-keeps-a-high-profile-on-k-street/4811 )

Obama meets panel of economic advisers…

FACTBOX-Obama meets panel of economic advisers
Mon Jul 28, 2008 8:34pm IST

July 28 (Reuters) – Democratic presidential candidate Barack Obama has convened a panel of advisers on Monday to talk about the top issue for American voters — the faltering U.S. economy.

Here is a list of those taking part:

* Bill Bradley – Former U.S. senator from New Jersey (1979-1997); managing director of Allen & Co

* Warren Buffett – Chairman and chief executive of Berkshire Hathaway

* Anna Burger – International secretary-treasurer of Service Employees International Union and chair of new labor federation Change to Win

* Jon Corzine – Governor of New Jersey; former chairman and chief executive of investment firm Goldman Sachs; U.S. Senator (2001-2006)

* William Daley – U.S. Secretary of Commerce in the administration of former President Bill Clinton; Midwest chairman of JPMorgan Chase

* James Dimon – Chairman and chief executive JPMorgan Chase

* William Donaldson – Former chairman of U.S. Securities and Exchange Commission (2003-2005); former chairman and chief executive of New York Stock Exchange; co-founder of investment banking firm Donaldson, Lufkin & Jenrette

* Indra Nooyi- Chief executive of PepsiCo

* Paul O’Neill – Former U.S. Treasury Secretary in the administration of President George W. Bush; special adviser to The Blackstone Group; former chairman and chief executive of Alcoa Inc.

* Federico Pena – U.S. secretary of transportation and energy in the Clinton administration; managing director of private equity investment firm Vestar Capital Partners

* Penny Pritzker – Chairman and founder of Classic Residence by Hyatt

* Robert Reich – U.S. Labor Secretary in the Clinton administration; professor of public policy at University of California at Berkeley

* Robert Rubin – Chairman and director of executive committee of Citigroup; U.S. Treasury Secretary in the Clinton administration

* Eric Schmidt – Google chief executive

* William Spriggs – Professor and Chair of Department of Economics, Howard University

* Lawrence Summers – U.S. Treasury Secretary in the Clinton administration; former president of Harvard University; managing director of investment and technology development firm D.E. Shaw

* John Sweeney – President of nation’s largest labor federation, AFL-CIO

* Laura Tyson – Chair of the Council of Economic Advisers in the Clinton administration; Professor, Haas School of Business at University of California at Berkeley

* Paul Volcker – Former chairman of U.S. Federal Reserve (1979-1987) (Reporting by Deborah Charles, editing by Jackie Frank)

( http://in.reuters.com/article/marketsNewsUS/idINN2826665520080728 )

Former U.S. Senator John Breaux (D-Louisiana)…

No ‘flying beneath radar’ for hedge funds

By Jeff Benjamin
February 13, 2007, 9:58 AM EST

The hedge fund industry got a reminder from former U.S. Senator John Breaux (D-Louisiana) that the days of flying beneath the regulatory radar screen are over and that the industry needs to do a better job of getting out ahead of important regulatory matters.

Mr. Breaux, who retired from the Senate in 2005 and is now senior counsel at the Washington law firm of Patton Boggs LLP, was the keynote luncheon speaker in Key Biscayne, Fla., where the Managed Funds Association has gathered this week for its annual networking conference.

“At a certain point (in an industry’s evolution) it can no longer have the attitude that it’s good to be under the radar,” he told an audience of more than 500 attendees.

“If you don’t have time to be involved in what’s happening in Washington, you need somebody there on your behalf.”

The message echoed an underlying theme of the conference that the $1.2 trillion hedge fund industry should brace for increased regulatory scrutiny.

( http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20070213/REG/70213002 )

Former Senator Sununu Appointed to BNY ConvergEx Board of Managers

By Cristina McEachern
February 26, 2009
BNY ConvergEx announced that former U.S. Senator John Sununu has been appointed to BNY ConvergEx Holding’s Board of Managers.

In a statement Joseph Velli, chairman and chief executive officer of BNY ConvergEx Group, said, “We are very pleased to add John to our board. His experience as a thoughtful leader and champion of innovation makes him an ideal match for ConvergEx’s entrepreneurial spirit.”

Sununu is currently a member of the Congressional Oversight Panel, which was created to oversee the spending of the Troubled Asset Relief (TARP) funds and provide regulatory reform recommendations.

Sununu was elected Senator from New Hampshire in 2002 and served on the Finance Committee; the Joint Economic Committee; the Committee on Banking, Housing and Urban Affairs; the Committee on Commerce, Science and Transportation; the Committee on Homeland Security and Governmental Affairs; and the Committee on Foreign Relations.

( http://www.advancedtrading.com/algorithms/showArticle.jhtml?articleID=214600230 )

Former U.S. Senator John Breaux… one of a growing cadre of lobbyists being hired by U.S. hedge funds…

Hedge Funds Hire Lobbyists for Inside Tips on U.S.
Bloomberg.com

March 16 (Bloomberg) — Former U.S. Senator John Breaux, who retired in January, is still walking the halls of Congress. Instead of brokering deals with lawmakers, he’s serving as a pipeline for a New York hedge fund. Breaux, a Louisiana Democrat, is one of a growing cadre of lobbyists being hired by U.S. hedge funds to provide instant tips on the progress of potentially market-moving legislation, from the settlement of asbestos lawsuits to allowing oil drilling in an Alaskan refuge. It’s a legal way of letting investors benefit from information gleaned from private conversations with lawmakers and aides. And it’s a new twist in Washington lobbying because it has nothing to do with influencing laws or policy.

“Anything that affects a company’s profitability from a legislative standpoint is information that’s important,” says Breaux, 61, who works for both the Clinton Group Inc. hedge fund in Manhattan and Patton Boggs LLP, Washington’s top lobbying firm by revenue.

Hedge funds, which often pursue high-risk, high-yield investments for wealthy clients, are taking on lobbyists such as Breaux to provide political intelligence that allows the funds to buy and sell company stock on information before it’s widely known.

The practice is taking place under the radar, because federal disclosure rules only require a person to register as a lobbyist and disclose clients when active efforts are made to affect legislation. And hedge funds aren’t interested in talking about it: Companies among the 25 biggest funds, including the Clinton Group, which has no connection to former President Bill Clinton, declined to comment for this story.

`Everything Is for Sale’

“It’s a burgeoning area of work,” says Tony Podesta, 61, a Democratic strategist, lobbyist and the brother of John Podesta, a former chief of staff to President Clinton. Tony’s firm, PodestaMattoon, has a hedge-fund client he won’t name. “They would have a different view of this if we had to register,” he says.

Federal rules prohibit Breaux from lobbying former colleagues for at least a year. There’s nothing stopping him from a lunch, cocktail, workout or phone call to Capitol Hill that might yield a tradable tip for a hedge fund.

“In Washington, everything is for sale,” says Gary Ruskin, 40, director of the Portland, Oregon-based Congress Accountability Project, a group founded by consumer and political activist Ralph Nader that monitors congressional ethics. “That includes investment advice.”
…

Boosting Egos
…

Jonathan Slade, 46, a Washington lobbyist whose clients include New York-based investment firm and hedge fund GoldenTree Asset Management LP, takes advantage of Wall Street’s prestige on Capitol Hill. Slade says he likes to set up conference calls and meetings between congressional staffers and the hedge fund executives. It helps boost Washington egos, he says.

“They think it’s cool talking to someone on Wall Street, especially if it is a big player,” says Slade, who spent four years as a congressional aide before becoming a lobbyist in 1986 and is now a principal with the Washington-based Cormac Group. “They ask them, `What’s Wall Street saying?’ They love that.”
….”
( http://www.spinwatch.org.uk/-news-by-category-mainmenu-9/157-us-politics/830-hedge-funds-hire-lobbyists-for-inside-tips-on-us-legislation )

http://www.americanthinker.com/2008/10/hedge_funds_politics_and_the_m.html

Thought: I’ve yet to find a site that aggregates politicians by hedgefund involvement in either a tabular or graphical way, but it sure would be nice to peruse. Any web developers out there?

Meantime, these are things I’ve tripped over and offer up for collective consideration…

http://www.worldtribune.com/worldtribune/WTARC/2008/eu_soros_01_24.asp

http://insidertrading.procon.org/viewanswers.asp?questionID=1039

President Barack Obama is surrounded by people with direct connections to the Hedge Fund Industry:

– Joe Biden, Vice President of United States – Family Hedge Fund – Paradigm Global Advisors LLC, which is owned by son R. Hunter Biden and brother James Biden.

– Rahm Emanuel, Chief of Staff for President Barack Obama – Former Investment Banker – “In the 2008 election cycle, he was the House’s No. 1 recipient of contributions from hedge funds, private equity firms and the broader securities and investment industry…”

– Lawrence Summers, a Top Economic Adviser for President Barack Obama – Cerberus Capital

– Steve Rattner, auto advisor – Co-founder of media-focused private equity firm Quadrangle Group – joining the US Department of Treasury as an advisor on the automotive sector.

NOTE: I expect this list to grow as I learn more…

Rep. Jerry Lewis and Cerberus Capital Management Connection…

“The congressman & the hedge fund

By Matt Kelley, USA TODAY
Posted 1/19/2006 12:09 AM Updated 1/19/2006 12:23 AM

One day after a New York investment group raised $110,000 for Republican Rep. Jerry Lewis, the House passed a defense spending bill that preserved $160 million for a Navy project critical to the firm. The man who protected the Navy money? Lewis.

[Picture - Text Caption below...]
Rep. Jerry Lewis says Cerberus’ fundraising efforts helped him win the House Appropriations’ chair but insists he did nothing improper. Rep. Jerry Lewis says Cerberus’ fundraising efforts helped him win the House Appropriations’ chair but insists he did nothing improper.
Gerald Herbert, AP

The fundraiser, which took place July 7, 2003, and the subsequent vote illustrate the kind of relationship between congressman and contributor that’s under increased scrutiny in the nation’s capital.

A fellow California Republican, Rep. Randy “Duke” Cunningham, resigned in November after admitting he helped steer Pentagon contracts to two of four businessmen who paid him more than $2.4 million in bribes. Former top GOP lobbyist Jack Abramoff pleaded guilty last month to using gifts and political donations in a conspiracy to bribe public officials. Both investigations continue.

Nothing is illegal about government contractors giving political money to lawmakers who help them, unless both sides agree to exchange campaign donations for votes.

Lewis, 71, insists he did nothing improper. “I’m darn sensitive to make certain we keep arm’s length from certain efforts” by political donors to influence legislation, Lewis said.

Both Lewis and the investment company, Cerberus Capital Management, benefited from the relationship. Eighteen months after the fundraiser and the House vote, Lewis won the chairmanship of the Appropriations Committee. He acknowledges that the fundraising efforts of Cerberus “played a very significant role” in winning the post. The ties between Cerberus and Lewis, a 14-term congressman from Redlands, Calif., have not been publicly examined before.

In the opinion of Larry Noble, executive director of the non-partisan Center for Responsive Politics in Washington, the timing of the fundraiser within days of a favorable vote “looks like influence buying.” Noble is a former chief lawyer for the Federal Election Commission.

None of the people connected to Cerberus had ever given money to either Lewis or his political action committee before the fundraiser or the vote on the bill Lewis sponsored, a USA TODAY analysis of their political contributions shows.

Cerberus, its lawyers and lobbyists declined to comment, despite repeated requests over the past three months.

‘Unstable’ program in peril
Created in 1992, Cerberus is a hedge fund, a type of private investment group that’s not regulated by the Securities and Exchange Commission. It’s named after the mythical, three-headed dog guarding the gates of Hades.

Often called a “vulture fund,” Cerberus invests mainly in companies in or on the verge of bankruptcy, buying those firms’ bonds in the hopes of converting them into cash or stock in a revived company. In 2000, the company hired former vice president Dan Quayle as a top executive.

In 2003, Cerberus owned more than $140 million in stock and bonds of the bankrupt telecommunications giant WorldCom, financial records show. Its stake in the company, which had filed for bankruptcy protection the previous year, was large enough that a Cerberus executive joined the board of directors of MCI, the company’s post-bankruptcy name.

MCI has been a major subcontractor since 2000 on an $8.8 billion project to build a secure computer network for the Navy and Marines. According to a House Appropriations Committee report in 2002, the program had “been unstable since its inception in 1999.
………
”
See Whole Article at:
( http://www.usatoday.com/news/washington/2006-01-19-cerberus-cover_x.htm )

“[Steve] Rattner to join Obama administration as auto advisor

The Quadrangle Group’s co-founder and managing principal will step down from the firm to assume his new role with the US government, where he will advise Treasury Secretary Timothy Geithner and National Economic Council director Lawrence Summers on the auto industry.

Posted – 23 Feb 2009 19:30 GMT
updated – 23 Feb 2009 19:33 GMT

Christopher Witkowsky

Steve Rattner, a co-founder of media-focused private equity firm Quadrangle Group, is joining the US Department of Treasury as an advisor on the automotive sector.

Rattner, who will leave Quadrangle for the new role with the administration of US President Barack Obama, will directly advise Treasury Secretary Timothy Geithner and National Economic Council director Lawrence Summers.

Joshua Steiner, co-founder of Quadrangle, and Michael Huber, who joined the firm in 2000 at its inception, will serve as the firm’s co-presidents.

“The Obama administration’s selection of Steve [Rattner] represents … a rare opportunity for him to help facilitate our country’s economic recovery,” the firm said in a statement. “While we will clearly miss Steve, we recognise the utmost importance of this appointment.”

Both Steiner and Huber were previously colleagues of Rattner’s at Lazard Frères, where Rattner was deputy chairman and deputy chief executive officer. The two were members of Lazard’s media and telecommunications group, which Rattner founded. Huber was also with Donaldson, Lufkin & Jenrette, where he worked in the media and telecommunications groups.

Rattner was the top candidate for the role of “car czar” in the Obama administration, but the US President nixed that idea earlier this month in favour of creating a task force led by the Treasury secretary on the industry’s restructuring.

Specifically, the task force will administer a more than $17 billion bailout of General Motors and Cerberus Capital Management-backed Chrysler. The two companies submitted restructuring plans recently as part of their obligations under the bailout plan that will determine future government support.

Rattner has been a major political donor to Democratic candidates in the US, including handing over more than $18,000 to Obama’s presidential campaign last year, and thousands of dollars to the Democrat Senatorial campaign committee in 2007, according to records from campaignmoney.com

Quadrangle manages more than $6 billion of capital, and invests between $100 million and $250 million in media and communications companies. The firm has completed more than 20 investments. ”
( http://www.privateequityonline.com/Article.aspx?article=34534&hashID=CFE5D6E3128987E03C0A6CF174F18CD3B5A80BAE )

Cabinet members who got into the Hedge Fund business

-Richard Breeden, former chairman of the Securities and Exchange Commission, is now a hedge-fund manager.

-Former Secretary of State Madeleine Albright (Clinton Administration) started an emerging-markets hedge fund called- Albright Capital Management. Albright has no prior investing experience.

-Former Treasury Secretary Lawrence Summers (Clinton Administration) took a job as managing director at the private-equity firm D.E. Shaw.

-Former Treasury Secretary John Snow (Bush Administration) was appointed chairman at the hedge-fund/private-equity firm, Cerberus Capital.

-Former Vice President Dan Quale (Bush Sr.) also took a job with Cerberus Capital.

-Former Secretary of State Henry Kissinger is said to have a roll advising hedge funds “on how geopolitical events affect their investments.”

There’s no doubt about it, we are seeing capitalism at its finest. Famed hedge fund manager, George Soros said that “hedge funds are the market now.” He also said that “the heavy use of debt to leverage up financial transactions could prove damaging when and if the economy stumbles.”

Posted by John Mugarian on April 19, 2007 11:41 AM

( http://www.johnmugarian.com/2007/04/cabinet_members_who_got_into_t.html )

Friday, April 10, 2009
Lawrence Summers: Positive economic news few months away

Lawrence Summers, a top economic adviser to President Barack Obama, told the Economic Club of Washington that the country is likely to see positive economic signs in the next few months despite continuing job losses and frozen lending markets.

An economy that performs like a ball rolling off a table’s edge is likely to end this year, Summers said. “I think we can be reasonably confident that that’s going to end in the next few months,” he said. But he added that, “How strong, how rapid the return will be – that’s a less clear question.”
( http://www.bizjournals.com/albuquerque/stories/2009/04/06/daily46.html )

Monday, April 13, 2009
Mike Morgan v. Goldman Sachs – Complaint and Summons

David didn’t beat Goliath by waiting till Goliath threw the first punch, so we thought that strategy worked pretty well . . . and we decided to follow it. Today we filed a Complaint in the United States District Court against Goldman Sachs.

You can view the documents:

Complaint – Mike Morgan v. Goldman Sachs – Click Here

Summons – Click Here

And here is the content of an email received from Go Daddy regarding our domain name:

Dear Parties,

Per the legal documents provided, the following domain names have been placed on Registrar-Lock:

GOLDMANSACHS13.COM, GOLDMANSACHS666.COM

The domain names will remain locked during the pending legal proceeding. The lock on the domain names shall expire automatically 1) Upon GoDaddy.com’s receipt of an order dismissing or suspending the case 2) Upon the expiration of the domain nameregistration including the Redemption Grace and Pending Delete Periods at the registry.

Thank you,

Shannon McDonald
Domain Services
GoDaddy.com, Inc.

When Goldman became a bank holding company last fall amid the mushrooming credit crisis, it switched its reporting cycle so its fiscal quarters were in line with calendar quarters beginning Jan. 1. To adjust its reporting schedule, Goldman began fiscal 2009 on Jan. 1 instead of Dec. 1 of last year. The bank said for the month of December, which fell between the change in reporting cycles, it lost $1 billion, or $2.15 per share.

Shifting the start of its fiscal year certainly helped the bank’s overall results, said Denise Valentine, senior analyst at Aite Group, a Boston-based research firm.

“It’s a little bit of fancy footwork, but for the market as a whole it’s good news and it was needed,” she said. “When your star does well or does what is expected, you breathe a little easier.”

Valentine was quick to note that other areas outside of Goldman’s fixed income and currency businesses showed some pain during the quarter.

Investment banking revenue totaled $823 million, down 30 percent year-over-year as far fewer merger deals were done. Its asset management revenue declined 28 percent to $949 million.

http://finance.yahoo.com/news/Goldman-1Q-earnings-surpass-apf-14915037.html

All the headlines this evening are screaming that Goldman has knocked the ball out of the park on earnings. But all you have to do is read the FULL ARTICLE, and it is clearly apparent to even those only capable of basic math, that this was a big earnings miss. I am wondering if it is just because Goldman has such clout on Wall St & Pennsylvania Ave, that none of the financial media are willing to speak about the facts here.

When Goldman changed from an investment bank to a consumer bank, they also changed their fiscal year. The 1st quarter fiscal year (previously) began Dec 1st. When they changed, the fiscal year began Jan 1st. So their December 2008 numbers stand alone, not recorded in the 1st quarter report, but reported separately. December had a loss of $2.15/share. The 1st quarter gain was reported as $3.39/share, well above analyst estimates of $1.64/share.

So if you deduct that $2.15 loss from the $3.39 gain, well then the REAL EARNINGS are only $1.24/share, a 40 cent miss.

No wonder they have to sell $5-billion in shares to pay back TARP… if anybody picks up on this, things could get ugly.

There obviously should be a law forbidding SEC employees from being employed by those that they recently regulated for “X” amount of time because the only SEC guys getting offered these jobs are those that didn’t “rock the boat” and disturb the corrupt status quo while at the SEC. Many are only getting paid for services already rendered.

By Daniel Gross Posted Monday, Jan. 22, 2007, at 6:11 PM ET (COPIED FROM http://WWW.DEEPCAPTURE.COM)

“”Long before Washington even had a K Street, public servants have been cashing in via the private sector. Till recently, there was no better way to monetize government service that a late career switch to lobbying or law. But now there’s a new business for the over-the-hill Washington player: hedge funds.

As Lynnley Browning reported in the New York Times last Friday, Richard Breeden, former chairman of the Securities and Exchange Commission, is now a hedge-fund manager, complete with $500 million under management, a Cayman Islands registry, and an office in hedge-fund capital Greenwich, Conn.—even though he “has no investing experience.” Browning reported that, “Mr. Breeden is now perhaps the most senior former government official ever to run a hedge fund.”
Related in Slate.”"

===========================================================

—– Original Message —–
From: marv eatinger
To: LCeynowa@aicpa.org
Sent: Tuesday, May 07, 2002 4:42 PM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: fraud@uspis.gov
Sent: Tuesday, May 07, 2002 10:09 AM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: chairmanoffice@sec.gov
Cc: fraudnet@gao.gov
Sent: Monday, May 06, 2002 8:59 PM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: askdoj@usdoj.gov
Cc: criminal.division@usdoj.gov
Sent: Monday, May 06, 2002 8:57 PM
Subject: Daleco Resources Corporation

Department of Justice Certified Mail #7001 1940 0007 4553 9364

April 20, 2002

Criminal Division

950 Pennsylvania Ave.

Washington, D.C. 20530-0001

Attention: Fraud & Racketeering Sections

Dear Sirs:

Enclosed you will find copies of the following letters. You may already have copies of some of these letters. This package is being sent to you as a refresher concerning Daleco Resources Corporation (claim no. 95-52791-1):

a) Letter from the SEC counsel to the Inspector General dated September 11, 1998.

b) Letter to the SEC counsel to the Inspector General dated October 1, 1998.

c) Letter from the SEC counsel to the Inspector General dated October 5, 1998.

d) Letter to Shea & Gould law firm dated September 20, 1993.

e) Letter to Shea & Gould law firm dated January 21, 1994.

f) Letter to Coopers & Lybrand accounting firm dated April 28, 1997.

Sincerely,

Marv Eatinger

Dear Criminal Division-Racketeering and Fraud Sections of the United States Department of Justice:

On April 20, 2002 I sent you certified package #7001 1940 0007 4553 9364 mailed from the Hy-Vee store post office at 132nd and Dodge Street in Omaha, Nebraska. Enclosed (above) you will find a copy of the cover letter that was included with that package. On May 4, 2002 I received PS Form 3811 (Domestic Return Receipt) in my mail. The label (3-1/4 inches long) that was bonded to item 2. Article Number block (label had #7001 1940 0007 4553 9364 printed on it) had been removed. The area that this label had been located (after a couple of days essentially bonded to) on was not the same color shade as the rest of the Return Receipt, which made it obvious that to remove this label you would have had to have used other than a fingernail or sharp instrument to process this removal. This package was received by Ernest L. Parker (by rubber stamp) on April 29, 2002. Ernest L. Parker is employed in the Justice Management Division of the Department of Justice.

On May 6, 2002 I went to the US Post Office branch on 85th and West Center Road in Omaha, Nebraska in order to attempt to get an explanation as to what happened to the above mentioned certified number label that disappeared from my Domestic Return Receipt.

In the past I have had a number of problems with packages that I have sent concerning Daleco Resources Corporation (claim no. 95-52791-1) to various entities. The last four certified packages that I have sent to the Wall Street Journal disappeared without a trace. The return receipt for some packages that I have sent to the SEC has come back with the receival stamp dated that the package was received the day before I mailed it. These are just two examples of which there are a number of other examples. I quit sending certified mail in the fall of 1999 and bought a computer for the sole purpose of sending email instead of certified mail. Then on April 20, 2002 I decided to send one more certified package to the US Department of Justice-Criminal Division.

The US Post Office Branch on West Center Road (manager) put certified mail #7001 1940 0007 4553 9364 into the US Government Direct Query-Intranet-”Quick” Search system and came up with the fact that my certified mail #7001 1940 0007 4553 9364 had been received and signed for (not rubber stamped) by a Warren Stokes whose address was Justice Dept. 20530. I cannot find a Warren Stokes anywhere in the DOJ phone book nor the DOJ email address book. I called two people named Stokes out of the five that are listed in the DOJ phone book, and they said as far as they knew there is no Warren Stokes that works for the DOJ. I thought that he might be a special prosecutor brought in by the DOJ to work on special cases, but I cannot find any lawyers named Warren Stokes in the United States except one in North Dakota that does divorce cases.

So, my problem and question is as follows: Was my certified mail #7001 1940 0007 4553 9364 received and signed for (not rubber stamped) by an entity at the Justice Department that was not in a legal sense authorized to receive a certified mail package of this nature?

Sincerely,

Marv Eatinger

============================================================

—– Original Message —–
From: marv eatinger
To: Criminal.Division@usdoj.gov ; CFLETTERS ; ENFORCEMENT ; fraudnet@gao.gov ; chairmanoffice@sec.gov
Cc: president@whitehouse.gov ; vicepresident@whitehouse.gov
Sent: Thursday, November 10, 2005 6:50 PM
Subject: Fw: Daleco Resources Corporation

Dear Regulatory Authorities:

As I have communicated a number of times in the past, the information presented below actually happened. Mario V. Mirabelli the managing partner of Shea & Gould Law Firm (Dissolved in January of 1994 in a special night meeting of partners!) Washington DC, was the facility in the second instance (Coopers & Lybrand Accounting Firm being the facility in the first instance) that made it possible for Daleco Resources Corporation to carry out and, to this point in time, succeed in its business plan of tax fraud and securities fraud (among a few other transgressive actions)! The timely application of the scales of justice are now a questionable result!

Sincerely,
Marv Eatinger

—– Original Message —–
From: marv eatinger
To: ettubuy@aol.com [ALFONSO KNOLL - TERRA SILEX HOLDINGS LTD.]
Sent: Thursday, February 21, 2002 5:16 PM
Subject: Fw: Daleco Resources Corporation

Alfonso: I am not out to take a legitimate investor group down the tubes! However, I feel that I do have an intrinsic vested interest in Dov Amir!
Sincerely,
Marv Eatinger

—– Original Message —–
From: marv eatinger
To: jklaben@equivest.com [ RICHARD C. BREEDEN ]
Cc: fraudnet@gao.gov
Sent: Sunday, February 10, 2002 5:10 PM
Subject: Fw: Daleco Resources Corporation

Please forward this e-mail to Richard C. Breeden: Thank You

Dear Mr. Breeden:
Again, do you really believe that the SEC has no part in the Enron debacle? This e-mail conforms to my e-mail sent to you earlier today!
Sincerely,
Marv Eatinger

—– Original Message —–
From: marv eatinger
To: ettubuy@aol.com [ ALFONSO KNOLL - TERRA SILEX HOLDINGS LTD. ]
Sent: Thursday, July 26, 2001 6:56 PM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: gnovinskie@netreach.net [ GARY NOVINSKIE - PRESIDENT OF DALECO RESOURCES CORP ]
Sent: Thursday, July 05, 2001 7:29 PM
Subject: Fw: Daleco Resources Corporation

Dear Gary: Please forward this E-mail to Dov Amir. Since I have been a stockholder in Daleco Resources Corp for the last 18 years, I feel that Lou and Dov’s interests and my interests are closely entwined!

Sincerely,
Marv Eatinger

—– Original Message —–
From: marv eatinger
To: Senator@bennelson.Senate.gov
Sent: Thursday, July 05, 2001 4:56 PM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: letters@nytimes.com
Sent: Wednesday, July 04, 2001 4:53 PM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: fraudnet@gao.gov
Sent: Monday, October 23, 2000 9:36 AM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: oig@sec.gov
Sent: Monday, October 23, 2000 6:24 AM
Subject: Fw: Daleco Resources Corporation

—– Original Message —–
From: marv eatinger
To: cfletters@sec.gov
Sent: Sunday, October 22, 2000 10:25 PM
Subject: Daleco Resources Corporation

On April 13, 1989, at 9:18 AM CDT I called the Securities and Exchange Commission office in New York (212-264-1614). I asked the lady that I talked to if there had been any form 13G filings for Daleco Resources Corporation over the last five years. She got on her computer and told me that Faye Hackman filed a form 13G in September of 1984 and that Gene Hackman filed a form 13G in December of 1984. On July 23, 1989, I filed a complaint package consisting of 86 items with the Denver Colorado branch of the SEC. They forwarded this package to the Los Angeles branch.

If you look at page 2 of the summary (Daleco Resources-Money They Stole) item 9, you will notice my information as to the above mentioned 13G filings.

In September of 1991, I received a letter dated September 23, 1991 (8-2795), from Betty Thompson (for Virginia Nabinett) with an enclosed copy of Daleco Resources Corporation’s Workload Inquiry (ID-746967) dated August 30, 1991. This was a computer print out covering Daleco’s SEC filings. This print out (first page) shows that Faye Hackman filed a 13G form received on April 15, 1985, and Gene Hackman filed a 13G form which was received on February 19, 1985.

In August or September of 1989 Lou Erlich and Dov Amir would have become aware of the fact that I had filed an 86 item complaint package with the SEC.

I can prove my allegations that a former SEC lawyer manipulated Daleco’s public filings with the SEC. I need the SEC to tell me how the above mentioned 13G filings of Faye and Gene Hackman could be shown on the SEC computer screen on April 13, 1989, as September of 1984 and December of 1984 and yet, the same computer print out (Workload Inquiry) over two years later (August 30, 1991) would show the dates on these filings as April and February of 1985?

This change in dates would determine whether the Hackman’s reported their more than 5% ownership of Daleco Resources Corporation (United Westland Resources Ltd.) with their 1984 tax filings or their 1985 tax filings. This would not have been of any importance to Lou and Dov until they became aware of my filing an 86 item complaint package with the SEC. They would then have to be concerned that if the SEC went back and looked at the filings, that these filings would agree with what was reported to the IRS.

Simply put, if the 5% ownership would have been recorded in 1984 the IRS would have learned one year earlier that United Westland Resources Ltd. (Canada) was the parent company of Westland Resources Corporation (Nevada). As far as fraud is concerned this time frame meant everything.

I get the feeling that there was a conspiracy between a former SEC employee and an employee or employees who were or are still working for the SEC!

Sincerely,
Marv Eatinger

PS: THE SEC DID NOT KNOW ABOUT UNITED WESTLAND RESOURCES LTD. UNTIL THE 1985 10K (SEPT. 30, 1985) REPORT WAS FILED AND WENT TO BRANCH 5 OF THE DIVISION OF CORPORATE FINANCE (the 1984 10K report which was filed in branch 4 of the Division Of Corporate Finance was never looked at by the SEC and the 20F filing on May 31, 1984, was closed out for review in branch 3 of the Division Of Corporate Finance on the same day that it was filed!), AND THIS REPORT WAS ISOLATED IN BRANCH FIVE OF THE DIVISION OF CORPORATE FINANCE! THE 1985 10K REPORT (FIRST PAGE) WAS THE FIRST TIME THAT UNITED WESTLAND RESOURCES LTD. SHOWED THAT IT WAS LISTED ON THE NASDAQ STOCK EXCHANGE