Comments on: Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 6 of 15) http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/ Investigating naked short selling, economic warfare, and the financial crisis Thu, 09 Feb 2012 13:02:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: hmp49 http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-173858 hmp49 Thu, 14 Jan 2010 23:48:01 +0000 http://www.deepcapture.com/?p=766#comment-173858 Chanos did not "ruin" Baldwin-United or Enron. Those companies did that themselves, and Chanos merely recognized that before other people did. If he "investigated," even using "questionable tactics," that doesn't make him responsible for their business failures - or frauds. Most articles bemoaning short-sellers are by "investors" who made bad decisions, and want to blame someone else for their losses. Coincidentally, the people they want to blame are those who were right when they themselves were wrong. Chanos did not “ruin” Baldwin-United or Enron. Those companies did that themselves, and Chanos merely recognized that before other people did. If he “investigated,” even using “questionable tactics,” that doesn’t make him responsible for their business failures – or frauds.

Most articles bemoaning short-sellers are by “investors” who made bad decisions, and want to blame someone else for their losses. Coincidentally, the people they want to blame are those who were right when they themselves were wrong.

]]> By: John Hoefle http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-170894 John Hoefle Mon, 24 Aug 2009 18:24:31 +0000 http://www.deepcapture.com/?p=766#comment-170894 Though it appears in a somewhat incidental role, my suspicion is that Lazard is a much bigger player in this operation. The group known as "Milken's Monsters" is probably more accurately described as "the children of Meyer Lansky," and the Milken machine ran largely, at least at first, on laundered dope money. Drexel Burnham Lambert was a joint operation of Morgan and Rothschild, and its spawn have played a major role in the rise and fall of the derivatives bubble. You have a remarkable story here, and I congratulate you on a job well done. Thanks. Though it appears in a somewhat incidental role, my suspicion is that Lazard is a much bigger player in this operation. The group known as “Milken’s Monsters” is probably more accurately described as “the children of Meyer Lansky,” and the Milken machine ran largely, at least at first, on laundered dope money. Drexel Burnham Lambert was a joint operation of Morgan and Rothschild, and its spawn have played a major role in the rise and fall of the derivatives bubble. You have a remarkable story here, and I congratulate you on a job well done. Thanks.

]]> By: Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 15 of 15) | Deep Capture: exposing the crime of naked short selling http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-170437 Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 15 of 15) | Deep Capture: exposing the crime of naked short selling Sat, 25 Jul 2009 21:45:14 +0000 http://www.deepcapture.com/?p=766#comment-170437 [...] Click here to read PART 6 [...] [...] Click here to read PART 6 [...]

]]> By: Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 12 of 15) | Deep Capture: exposing the crime of naked short selling http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-170380 Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 12 of 15) | Deep Capture: exposing the crime of naked short selling Thu, 23 Jul 2009 16:08:25 +0000 http://www.deepcapture.com/?p=766#comment-170380 [...] Click here to read PART 6 [...] [...] Click here to read PART 6 [...]

]]> By: Michael Milken, 60,000 Deaths, and the Story of Dendreon | The Corner of Berkshire & Fairfax http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-170141 Michael Milken, 60,000 Deaths, and the Story of Dendreon | The Corner of Berkshire & Fairfax Wed, 15 Jul 2009 23:39:02 +0000 http://www.deepcapture.com/?p=766#comment-170141 [...] Chapter 6:  http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/ Chapter 7:  [...] [...] Chapter 6:  http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/ Chapter 7:  [...]

]]> By: Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 10 of 15) | Deep Capture: exposing the crime of naked short selling http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-170068 Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 10 of 15) | Deep Capture: exposing the crime of naked short selling Tue, 14 Jul 2009 15:28:34 +0000 http://www.deepcapture.com/?p=766#comment-170068 [...] Click here to read PART 6 [...] [...] Click here to read PART 6 [...]

]]> By: Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 8 of 15) | Deep Capture: exposing the crime of naked short selling http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169902 Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 8 of 15) | Deep Capture: exposing the crime of naked short selling Thu, 09 Jul 2009 21:50:32 +0000 http://www.deepcapture.com/?p=766#comment-169902 [...] Click here to read PART 6 [...] [...] Click here to read PART 6 [...]

]]> By: Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 9 of 15) | Deep Capture: exposing the crime of naked short selling http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169861 Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 9 of 15) | Deep Capture: exposing the crime of naked short selling Thu, 09 Jul 2009 16:02:27 +0000 http://www.deepcapture.com/?p=766#comment-169861 [...] Click here to read PART 6 [...] [...] Click here to read PART 6 [...]

]]> By: Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 7 of 15) | Deep Capture: exposing the crime of naked short selling http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169740 Michael Milken, 60,000 Deaths, and the Story of Dendreon (Chapter 7 of 15) | Deep Capture: exposing the crime of naked short selling Mon, 06 Jul 2009 17:39:24 +0000 http://www.deepcapture.com/?p=766#comment-169740 [...] Click here to read PART 6 [...] [...] Click here to read PART 6 [...]

]]> By: DCN http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169633 DCN Fri, 03 Jul 2009 18:53:26 +0000 http://www.deepcapture.com/?p=766#comment-169633 The entire article can be seen: http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html I have been a fan of Matt Taibbi since his days at the "The eXile", which was a hilarious and profane english-language publication in Russia, yet also had some excellent reporting that was followed in the foreign policy community (Putin has since kicked it out of the country, and they can now be found at exiledonline.com). His last big article in Rolling Stone, "The Big Takeover", absolutely killed. He is going to be due for some awards this year. The entire article can be seen:
http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html

I have been a fan of Matt Taibbi since his days at the “The eXile”, which was a hilarious and profane english-language publication in Russia, yet also had some excellent reporting that was followed in the foreign policy community (Putin has since kicked it out of the country, and they can now be found at exiledonline.com).

His last big article in Rolling Stone, “The Big Takeover”, absolutely killed. He is going to be due for some awards this year.

]]> By: sean http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169613 sean Fri, 03 Jul 2009 15:50:13 +0000 http://www.deepcapture.com/?p=766#comment-169613 It'll be a cold day in hell before these enablers and criminals admit that they were wrong!! SEC Should Have Said ‘Sorry’ for Madoff, Ex-Chairman Pitt Says Share | Email | Print | A A A By Tom Cahill July 2 (Bloomberg) -- The U.S. Securities and Exchange Commission should have apologized for missing Bernard Madoff’s $65 billion Ponzi scheme, former chairman Harvey Pitt said. “I would’ve liked to see the SEC say, ‘We’re really sorry,’” Pitt told reporters in London today at a briefing hosted by CQS UK LLP, the hedge-fund firm founded by Michael Hintze. “I never heard that from anyone at the SEC.” Madoff, 71, was sentenced to 150 years in prison in New York this week for running the biggest investment fraud in U.S. history. Pitt, chairman of the SEC from 2001 to 2003, said the agency examined Madoff’s firm four times and didn’t spot his fraud due to “human failure.” The SEC may have developed a blind spot because it’s “over-lawyered” and needs more traders, managers and veterans of markets, Pitt said. “That’s been a weakness at the SEC,” said Pitt, who was a partner at the law firm Fried, Frank, Harris Shriver & Jacobson LLP before joining the agency. “Part of the problem is you can’t find fraud with just lawyers.” Pitt is the chief executive officer of Washington-based consulting firm Kalorama Partners LLC and an adviser to CQS. Pitt said he had a plan for spot checks at investment management firms that he failed to push through before leaving the SEC. The system may have helped catch Madoff or similar frauds, he said. “At a bare minimum, it would have made it more difficult,” Pitt said. “Unfortunately, Bernie Madoff committed his fraud very easily.” To contact the reporter on this story: Tom Cahill in London at tcahill@bloomberg.net Last Updated: July 2, 2009 13:29 EDT http://www.bloomberg.com/apps/news?pid=20601170&sid=a4XWUrp0e6nY It’ll be a cold day in hell before these enablers and criminals admit that they were wrong!!

SEC Should Have Said ‘Sorry’ for Madoff, Ex-Chairman Pitt Says

Share | Email | Print | A A A

By Tom Cahill

July 2 (Bloomberg) — The U.S. Securities and Exchange Commission should have apologized for missing Bernard Madoff’s $65 billion Ponzi scheme, former chairman Harvey Pitt said.

“I would’ve liked to see the SEC say, ‘We’re really sorry,’” Pitt told reporters in London today at a briefing hosted by CQS UK LLP, the hedge-fund firm founded by Michael Hintze. “I never heard that from anyone at the SEC.”

Madoff, 71, was sentenced to 150 years in prison in New York this week for running the biggest investment fraud in U.S. history. Pitt, chairman of the SEC from 2001 to 2003, said the agency examined Madoff’s firm four times and didn’t spot his fraud due to “human failure.” The SEC may have developed a blind spot because it’s “over-lawyered” and needs more traders, managers and veterans of markets, Pitt said.

“That’s been a weakness at the SEC,” said Pitt, who was a partner at the law firm Fried, Frank, Harris Shriver & Jacobson LLP before joining the agency. “Part of the problem is you can’t find fraud with just lawyers.” Pitt is the chief executive officer of Washington-based consulting firm Kalorama Partners LLC and an adviser to CQS.

Pitt said he had a plan for spot checks at investment management firms that he failed to push through before leaving the SEC. The system may have helped catch Madoff or similar frauds, he said.

“At a bare minimum, it would have made it more difficult,” Pitt said. “Unfortunately, Bernie Madoff committed his fraud very easily.”

To contact the reporter on this story: Tom Cahill in London at tcahill@bloomberg.net

Last Updated: July 2, 2009 13:29 EDT

http://www.bloomberg.com/apps/news?pid=20601170&sid=a4XWUrp0e6nY

]]> By: irieblue http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169610 irieblue Fri, 03 Jul 2009 14:32:07 +0000 http://www.deepcapture.com/?p=766#comment-169610 Washington Post cancels lobbyist event.. For $250,000 the Post was allowing lobbyist's to meet with their reporters!! http://news.yahoo.com/s/politico/20090702/pl_politico/24441 Washington Post cancels lobbyist event.. For $250,000 the Post was allowing lobbyist’s to meet with their reporters!!

http://news.yahoo.com/s/politico/20090702/pl_politico/24441

]]> By: sean http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169603 sean Fri, 03 Jul 2009 05:47:51 +0000 http://www.deepcapture.com/?p=766#comment-169603 One way or the other this story is getting out!! ONE WAY OR THE OTHER!! Read the story and watch the videos, it has reached "Critical Mass" Matt Taibbi (sp) knows what he is talking about!!! http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine/print# One way or the other this story is getting out!! ONE WAY OR THE OTHER!! Read the story and watch the videos, it has reached “Critical Mass” Matt Taibbi (sp) knows what he is talking about!!!

http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine/print#

]]> By: sean http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169600 sean Fri, 03 Jul 2009 03:33:57 +0000 http://www.deepcapture.com/?p=766#comment-169600 Sorry Paul I am unable to post links as yet (not enough posts under my belt) Also did you guys see our only honest political representative is at it again in our favor. Sen. Kaufman again zaps SEC Kaufman: SEC Decision to Ignore Madoff Signs Latest Example of Culture in Need of Change July 2, 2009 Sen. Ted Kaufman (D-DE) released the following statement following reports of an internal Securities and Exchange Commission (SEC) decision to disregard suspicions surrounding Bernie Madoff's business practices as early as 2004: "This is just more evidence of the serious mistakes made by the SEC in recent years. From the flawed decisions to permit massive increases in leverage at banks to the repeal of the uptick rule to failures to regulate rating agencies or stop abusive short selling - this is the latest example of a culture at the SEC to treat those it's intended to regulate as clients rather than protect investors. The five current commissioners need to admit the mistakes in the past and act decisively to change the SEC. I've yet to see them reevaluate these bad decisions in an objective manner and establish clearly that a new day has arrived. The first thing the SEC can and should do is properly deal with abusive short selling by reinstating some form of the uptick rule and a pre-borrow requirement on short sales. I will continue to push the SEC to stand up for investors by adopting clear rules and enforcing them aggressively." http://kaufman.senate.gov/press/press_releases/release/?id=9289c780-a17a-4ddb-af18-d8cd731e1806 Sorry Paul I am unable to post links as yet (not enough posts under my belt)

Also did you guys see our only honest political representative is at it again in our favor.

Sen. Kaufman again zaps SEC

Kaufman: SEC Decision to Ignore Madoff Signs Latest Example of Culture in Need of Change

July 2, 2009

Sen. Ted Kaufman (D-DE) released the following statement following reports of an internal Securities and Exchange Commission (SEC) decision to disregard suspicions surrounding Bernie Madoff’s business practices as early as 2004:

“This is just more evidence of the serious mistakes made by the SEC in recent years. From the flawed decisions to permit massive increases in leverage at banks to the repeal of the uptick rule to failures to regulate rating agencies or stop abusive short selling – this is the latest example of a culture at the SEC to treat those it’s intended to regulate as clients rather than protect investors.

The five current commissioners need to admit the mistakes in the past and act decisively to change the SEC. I’ve yet to see them reevaluate these bad decisions in an objective manner and establish clearly that a new day has arrived. The first thing the SEC can and should do is properly deal with abusive short selling by reinstating some form of the uptick rule and a pre-borrow requirement on short sales. I will continue to push the SEC to stand up for investors by adopting clear rules and enforcing them aggressively.”

http://kaufman.senate.gov/press/press_releases/release/?id=9289c780-a17a-4ddb-af18-d8cd731e1806

]]> By: harveydawabbitt http://www.deepcapture.com/michael-milken-60000-deaths-and-the-story-of-dendreon-chapter-6-of-15/comment-page-1/#comment-169597 harveydawabbitt Fri, 03 Jul 2009 00:24:04 +0000 http://www.deepcapture.com/?p=766#comment-169597 Y'ALL CAN COMMENT TO CHANOS ON THIS LINK http://blogs.law.harvard.edu/corpgov/2009/07/02/why-the-sec-should-not-further-restrain-short-selling/#comment-296603 Y’ALL CAN COMMENT TO CHANOS ON THIS LINK

http://blogs.law.harvard.edu/corpgov/2009/07/02/why-the-sec-should-not-further-restrain-short-selling/#comment-296603

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