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 )

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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 )