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Category — Corporate Crime

Harry Markopolos Testimony before Congress – CNN Missed It

I hope everyone listened to Harry Markopolos yesterday testify about Madoff before Congress. He was brilliant. He was exactly right about what to do with the SEC. He said put all 3500 employees on the street and let the New York State Attoney General enforce securities law. He said there had been no federal enforcement for the last eight years. He had lots to say and he said it all well. The entire testimony is available on CSPN3.

No one can deny that this was an important bit of history. Markopolos was testifying about the biggest bilking of investors in the history of the world. Every news organization covered it. MSNBC broadcast the event live. Tell me why this event did not exist for CNN. There was no coverage. It’s as if it never happened. I find this very strange and a very disturbing editing of world events.

February 5, 2009   No Comments

Why Would Anyone on the Planet Invest One Penny in the USA after Madoff

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I hope the next Congress regulates these criminals in every way possible. From the BBC:

Nicola Horlick, boss of Bramdean investments, told the BBC: “I think now it is very difficult for people to invest in things that are meant to be regulated in America, because they have fallen down on the job.”

December 15, 2008   No Comments

Finally – Handcuffs and Perp Walks for the Thieves?

A few days ago, I linked to an opinion piece in the First Post asking why no one was going to jail over the septic backup of corporate crime we’re witnessing. Finally, it looks like investigations are under way. From the New York Times today:

The Federal Bureau of Investigation, under pressure to look at possible criminal activity in the financial markets, is expanding its corporate fraud inquiries in the wake of the tumult in the last 10 days, officials said Tuesday.

The F.B.I. has now opened preliminary investigations into possible fraud involving the four giant corporations at the center of the recent turmoil — Fannie Mae and Freddie Mac, Lehman Brothers and the American International Group, The Associated Press reported.

Congratulate yourself on witnessing history. I used to marvel at the stories my parents would tell about the ’20s and ’30s. My parents married right before the crash in 1929. Warren Harding’s regime hit them hard. Today, we have Warding Harding on steroids. We have George Bush and Dick Cheney and all of their oil buddies and their Wall Street buddies and their neo-con nonsense. For years, Germany and France have been begging the USofA and the UK to regulate their markets. We wouldn’t hear of it. We were entranced and speaking in neo-con tongues. France doesn’t allow short trading. France is smart. We’re stupid and most of America is going to pay for this stupid with their life savings. Thank you so much for voting for George Bush and his Merry Men, not once, but twice.

September 24, 2008   1 Comment

In a Sarah Brightman Mood

I’ve noticed people seem to love or hate Sarah Brightman. I really love her work. I think she’s best with a light classical show tune. When she sings out in her mid range, it’s quite spectacular. Some of her albums seem a little over-produced and I do wish that I could sing along when I listen to her in the car but my voice will never reach that high. That’s the intro.

Since I’ve been in this mood lately while listening to her new album, Symphony, I found a video where you can see her without the elaborate theatrical make-up that is something of a trademark for her. It’s very unusual to see someone like Sarah Brightman without her make-up. Have a look:

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She seems to be a very very smart and extremely hard working person. Even if you are not a fan of her music, you have to concede that. I don’t know how she has the energy to maintain her grueling tour schedule. It’s amazing. I have noticed that she’s starting to receive writing credits for some of the music. That’s good because that’s the kind of money that keeps on coming year after year.

Of course you can never know a celebrity by watching their work but you can’t help imagining what they’re like. I imagine Sarah Brightman to be a smart woman who knows her market and, in private, a very fun loving and caring friend. I’ll never know if I’m right and that’s what’s great about entertainers. You can imagine them to be whatever you want. I think I can be sure of one thing: Coffee is Sarah Brightman’s best friend.

The new album, Symphony, is superb. Do Sarah a favor and actually go to a store and buy it. It’s like a gift to charity. I think she probably helps to support an army of people.

May 22, 2008   No Comments

New Video Game – Grand Theft CEO – Rated X for Xtreme Greed

From the NY Times, CEO compensation for 2007:

John A. Thain – $83,785,021 – Merrill Lynch

Lawrence J. Ellison – $61,180,524 – Oracle

Lloyd C. Blankfein – $53,965,418 – Goldman Sachs Group

Kenneth I. Chenault – $50,126,585 – American Express

John J. Mack – $41,399,010 – Morgan Stanley

Ray R. Irani – $33,624,909 – Occidental Petroleum

Daniel R. Hesse – $29,455,746 – Sprint Nextel

Miles D. White – $28,955,662 – Abbott Laboratories

Robert A. Iger – $27,665,413 – Walt Disney

Alan G. Lafley – $26,835,350 – Procter & Gamble

April 7, 2008   No Comments