Wednesday, December 15, 2010

I seem to be finding that there has not been much in the way of oversight in anything in many many years?  Was there EVER any regulation, ever? 

http://tpmcafe.talkingpointsmemo.com/talk/blogs/mrs_panstreppon/2009/03/bernie-madoff-how-long-has-thi.php

Bernie Madoff: How Long Has This Been Goin' On?



Your friends with their fancy persuasions won't admit that they're part of a scheme But I can't help but have my suspicions 'cause I ain't quite as dumb as I seem...
These corporate registrations raise some questions about how Bernie's business operated over the years.  
This week, Bernie's former messenger, William Nasi, told us that Bernie's father, Ralph, a former plumber, and his mother, Sylvia, got into the investment business in the '50s. Sylvia Madoff was cited by the SEC in 1964 for failing to renew her brokerage license. At the time she was doing business as Gibraltar Securities which does not appear to have been registered with New York Secretary of State. But two other corporate registrations raise the possibility she registered the company elsewhere.
Gibraltar Securities Co.(Inc.) was registered in New Jersey in 1968 and Gibraltar Securities of Florida Inc. was registered in Florida in 1970. Unfortunately, the names of the officers and directors are not available.
Saul Alpern, Ruth Madoff's father and an accountant, helped Bernie get the investment business started in the early '60s. After he moved to Florida, Alpern apparently continued in the investment business when, at the age of 80, he registered Onondaga Investment Co., Clinton Investment Co. and Sheraton Investment Corp. in 1984. His business partner  was Bruce M. Stiglitz, an L.A. tax attorney who specialized in the movie industry.
Did Saul Alpern put the investment companies together or was he a front for Bernie or someone else?
Cohn, Delaire & Madoff, Inc. at 1 East 57th St., NYC,  was registered in New York State on 6/6/1986 and dissolved by proclamation on  6/24/1992.  The "Cohn" is almost certainly Maurice Jay Cohn, a long-time business associate of Bernie's who owns a piece of Cohmad Securities. Alvin Delaire is a long-time associate of both Cohn and Madoff who works for Cohmad.
The date of the Cohn, Delaire & Madoff dissolution is significant because within three months of the dissolution, the SEC opened an official investigation into Avellino & Bienes for selling more than  $440 million in unregistered securities funneled to Bernie. At the same time, Steven Mendelow and Edward Glantz were also investigated for selling $88 million in unregistered securities funneled from their firm, Telfran Associates Ltd. to Bernie.
If Cohn, Delaire & Madoff was another feeder fund or in some other way linked to the investment scheme, it may have been shut down in anticipation of the SEC investigation. If that is true, Maurice Cohn and Alvin Delaire would appear to be more directly involved in the scheme than previously known.
On 12/4/2000, Bernard L. Madoff Securities LLC was registered in New York and Shana Madoff was listed as the contact. Previously, the company had been Bernard L. Madoff, a sole proprietorship. On 12/21/2000, Madoff Brokerage & Trading Technologies LLC was also registered and Peter Madoff was listed as the contact.
At the same time, Bernie personally loaned $37 million to his London company, Madofff International Securities Ltd., moved to a bigger office and increased the staff to about 30 employees. A year later, he loaned another $25 million to MISL.
On paper, it looks like Bernie Madoff restructured and expanded the scope of his operations in late 2000, a theory that is reinforced by yesterday's news that the London company appears to be involved in the fraud.  

http://tpmcafe.talkingpointsmemo.com/talk/blogs/mrs_panstreppon/2009/09/bernie-madoff-who-was-the-mado.php
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Bernie Madoff: What role did Cohn, Delaire & Madoff, Inc. play in 1992 SEC investigation?


(Updated 9/6/09 to include reference to 6/24/92 SEC memorandum.)
In June 1992, several customers of an investment firm known as Avellino & Bienes approached the SEC conveying concerns about investments they had made. - SEC Executive Summary of Madoff Investigation
After receiving the information from the Avellino & Bienes' customers, the then-Acting Enforcement Branch Chief and former New York Enforcement Staff Attorney contacted Frank Avellino. Former New York Enforcement Staff Attorney June 24, 1992 Memorandum, at p. 1, at Exhibit 1. - SEC OIG Report on Madoff Investigation
Name:COHN, DELAIRE & MADOFF, INC.
Status:DISSOLUTION BY PROCLAMATION
Date of Status:06-24-1992 -
Madoff Corporate Registrations
CIVIL DOCKET FOR CASE #: 1:92-cv-08314-JES
11/18/19921 ORDER, sealing case ( signed by Judge Kenneth Conboy )
- SEC vs. Avellino & Bienes, 1992

Cohn, Delaire & Madoff, Inc. was voluntarily dissolved on June 24, 1992. On the same day, an SEC staff attorney issued a memorandum about the status of a preliminary investigation into Avellino & Bienes. The investigation was opened after investors filed complaints about A&B in June 1992 or earlier.
No one has publicly disclosed the business purpose of Cohn, Delaire & Madoff but it sure looks like someone was in a hurry to shut it down after the SEC became interested in A&B.
According to the SEC OIG's report, the June 24,1992 memorandum refers to contact with Frank Avellino about the nature of A&B's investment business. Avellino probably told Bernie that he had heard from the SEC and, for some reason, Cohn, Delaire & Madoff, Inc. had to disappear.
Cohn Delaire & Madoff may have been another feeder fund, given its June 1986 registration date. At least two or more feeder funds were registered around the same time period. Telfran Associates Corp. was registered in late December 1982, Cohmad Securities Corporation was registered in February 1985. Another possible feeder fund, SJK Investors Inc., was registered in January 1985.
"Cohn" is very likely Maurice J. "Sonny" Cohn and "Delaire" is very likely Alvin J. Delaire, Jr.  Cohn was a principal and Delaire was an agent of Cohmad. Both men are the target of a lawsuit filed by the Madoff bankruptcy trustee who is suing to recover millions of dollars in commissions that Bernie paid Cohmad agents. Cohn and his daughter, Marcia, have been charged with fraud by the SEC.
If "Madoff" is Bernie's brother, Peter, and Cohn, Delaire & Madoff was a feeder fund, Peter's involvment in the investment advisory business was more hands on than what has been publicly disclosed to date. If the SEC gave Peter a pass, the SEC comes off looking guilty of more than just incompetence.
Peter Madoff was elected vice-chairman of NASD in November 1992
The records in the Avellino & Bienes case should be unsealed. Why they were sealed in the first place is enough cause for concern.

http://www.cii.org/iwgInfo


http://kennysideshow.blogspot.com/2009/03/ptech-and-amazing-story-of-indira-singh.html
EXCERPT:

There's also a "Bernie" Madoff connection to this crime.
When Bernie was making off with that loot that was making aliyah to Israel, the boss of the SEC was Arthur Levitt, who played the "See no Evil" and "Hear no Evil" part to perfection while Bernie was escorting loads of cash out of the USA.

Levitt grew up in a Brooklyn Jewish family.

Arthur Levitt Jr. (born 1931) was the twenty-fifth and longest serving Chairman of the United States Securities and Exchange Commission (SEC) from 1993 to 2001. Since May 2001 he has been employed as a senior adviser at the Carlyle Group.

SEC head from the first WTC attack in 1993 to the eve of the 2nd on 9/11/2001.

If a group of people were needing to move large amounts of cash and stock around to finance a terrorist attack, they sure had their back covered during this time.

The Carlyle Group is a shadowy bunch of war mongers and profiteers, chock full of Zionist and Neocons and at least one ex-prez, George Bush Sr.

http://en.wikipedia.org/wiki/Arthur_Levitt

What's Mr. Levitt up to these days? Helping AIG suck hundreds of billions of American tax dollars out of this country.

Mr. Levitt serves on the Board of Directors for RiskMetrics Group.

In 2005, Levitt was named a special advisor to the American International Group's board of directors and the board's nominating and corporate governance committee following the resignation of CEO and Chairman Maurice "Hank" Greenberg, who left after an investigation into the firm's accounting practices by New York Attorney General Eliot Spitzer.

Levitt oversaw an audit published in August 2006, by Kroll Inc. -- where he is a consultant -- describing how the City of San Diego had allowed a pension deficit of $1.43 billion. The report blamed around 30 city officials, including five incumbent council members. According to the San Diego Union Tribune [1], Kroll charged the City of San Diego $21 million for the report, with Leavitt's time billed at $900 per hour.


AIG is now in charge of numerous American ports, a change that was able to transpire after all the hell raised in the MSM about the Dubai Ports deal and even though raving Zionist Wolf Blitzer investigated DP and said they had an excellent security record.

That flying a jet liner into a building might be a difficult trick to pull off again, too many people with cell phone cameras and way too many asking questions about 9/11.

But their aren't many cell phones in ports, especially nearby old, run down looking tramp freighters, allegedly registered in Lebanon or Iran and that contain a dirty bomb.


http://digging101.us/

http://www.reuters.com/news/video/story?videoId=168290296

Mark Madoff commits suicide

http://www.nydailynews.com/news/ny_crime/2010/12/11/2010-12-11_bernie_madoffs_son_mark_hangs_himself_in_soho_apartment_sources_say.html

Mark Madoff, oldest son of Bernie Madoff, hangs himself with dog leash in SoHo apartment

Originally Published:Saturday, December 11th 2010, 9:05 AM
Updated: Sunday, December 12th 2010, 5:00 PM
Mark Madoff was found dead in his SoHo apartment Saturday morning. He apparently killed himself with his son in the next room, sources say.
Santos for News
Mark Madoff was found dead in his SoHo apartment Saturday morning. He apparently killed himself with his son in the next room, sources say.
The Madoffs: Bernie, wife, Ruth, and son Mark before the Ponzi scheme was exposed.
GI/BM/Getty
The Madoffs: Bernie, wife, Ruth, and son Mark before the Ponzi scheme was exposed.
Stephanie Mikesell Madoff, with Mark, and their son, Nicholas.
Facebook
Stephanie Mikesell Madoff, with Mark, and their son, Nicholas.
http://en.wikipedia.org/wiki/Paul,_Weiss,_Rifkind,_Wharton_&_Garrison
Paul, Weiss, Rifkind, Wharton & Garrison LLP is a law firm headquartered on Sixth Avenue in New York City. The firm has well-noted expertise in its corporate, personal representation, entertainment law and litigation practices, having long been a leader among national litigation firms. Paul, Weiss won the honor of having the "litigation department of the year for 2006," according to The American Lawyer.[1] The firm has also gained preeminence for its corporate work in mergers and acquisitions (especially in the private equity arena), capital markets regulation, investment funds formation, high-yield debt offerings, bankruptcy and corporate reorganization, employee benefits and executive compensation, finance, intellectual property, real estate and tax law.
Paul, Weiss was ranked the third most profitable law firm in the United States in 2006 in terms of average partner compensation after Wachtell, Lipton, Rosen & Katz and Cravath, Swaine & Moore (and fourth after these two and Cadwalader, Wickersham & Taft in terms of profits per partner).
The firm's lawyers are counsel to many of the world's leading corporations such as Time Warner and Carnival Cruise Lines, and financial institutions, particularly staple private equity funds like Oak Hill Capital Partners, General Atlantic Partners, KPS Capital Partners and the Carlyle Group, to name but a few. The firm has received acclaim for its work on behalf of clients in the financial services, communications, technology, media and entertainment fields (entertainment law and personal representation of figures in the entertainment industry has long been one of the firm's key practice areas.)
In addition to its headquarter office in New York, Paul, Weiss maintains presences in Washington, D.C., Wilmington, DE, London, Tokyo, Beijing and Hong Kong.
A starting first-year associate at Paul Weiss is paid $160,000 per year.

http://www.paulweiss.com/lawyers/detail.aspx?attorney=117
Martin London
Of Counsel
Of counsel in the Litigation Department, Martin London has an extensive practice that encompasses broad litigation issues both domestically and internationally, involving both criminal and civil matters.

Mr. London’s civil experience includes trials and litigation of numerous commercial cases involving antitrust, breach of contract, tortious interference, real estate, product liability, securities laws, environmental laws, insurance, administrative law and miscellaneous torts. His criminal representations include that of Vice President Spiro Agnew in connection with criminal charges brought against him that led to his nolo plea and resignation.

The gamut of Mr. London’s successes is vast, involving many prominent matters and investigations such as:
  • a month-long jury trial (Planned Parenthood v. American Coalition of Life Activists) that resulted in the largest compensatory and punitive damages verdict in Oregon history, and a permanent injunction against a group of anti-abortion activists;
  • a successful defense in a three-week trial before the Honorable Arlen Adams on a $28 million SOHIO claim involving the Panama Pipeline;
  • the largest affirmed federal jury verdict in a libel case (B&W v. CBS);
  • a successful trial and appeal in a celebrity harassment and right of privacy case (Galella v. Onassis);
  • a successful injunction against an unsolicited takeover offer in True North Communications, Inc. v. Publicis, S.A. in a 1998 Delaware Chancery Court determination;
  • a completed trial that resulted in a $650 million settlement for client Raytheon in a proceeding against the General Motors subsidiary, Hughes Electronics;
  • an intense internal audit on behalf of Morgan Stanley that probed into the company's employment practices;
  • a 24-month-long project for Sumitomo Corporation involving an internal investigation; and
  • handling an investigation by several U.S. and U.K. authorities, concerning the events surrounding alleged manipulation of the LME copper market.

He has also served as counsel to the Special Litigation Committee of a mutual fund Board of Directors respecting shareholders' derivative litigation, and defended numerous securities litigations for a number of clients that include New York's largest investment banks. Furthermore, Mr. London has represented Citigroup with various lawsuits arising out of the WorldCom collapse, and is representing Chubb in a number of 9/11-related cases.

A fellow of the American College of Trial Lawyers, and a recipient of the Award for Outstanding Oral Advocacy, presented by the Office of the Appellate Defender, Mr. London has been twice appointed special trial counsel by special New York judicial tribunals to prosecute judicial misconduct cases. His experience also includes serving as general counsel to New York State Governor Carey’s Judicial Selection Panel; serving as chairman of the Board of Trustees of the Federal Bar Council; and serving as chairman, Appellate Division; First Department Disciplinary Committee from 1980-1985, where he oversaw all disciplinary prosecutions of 40,000 lawyers registered in the Department.

Mr. London has lectured extensively, including a talk given during the national meeting of the Securities Industry Association on the intricacies of the Private Securities Litigation Reform Act. Other topics he has spoken on include various substantive law and trial practice issues at or under auspices of the American Bar Association, the Practising Law Institute, New York State and City Bar Associations and numerous law schools. Mr. London has also appeared on a number of radio and TV programs (Jim Lehrer NewsHour, WNYC, WNYE, Court TV, etc.), discussing First Amendment and related issues.

Mr. London was a member of the New York University Law Review.

http://www.kamalsinha.com/morganstanley/curry-scandal/paul-weiss.html

Paul Weiss

Morgan Stanley > The Curry Scandal > Paul, Weiss, Rifkind, Wharton & Garrison LLP


Paul Weiss Rifkind and Freedom of Press

Milton Allimadi, who broke the stroy of how Morgan Stanley had set up Christian Curry to entrap him in serious felony changes, got a threatening letter from Martin London, the lead defense counsel for the firm. Was he just trying to scare a non-Caucasian immigrant into not exercising his U.S. consitutional rights? Part of the story from new York Post as posed on Allimadi's website:
NEW YORK PRESS: - "Milton Allimadi, who publishes the Black Star News is getting reamed again. Last summer we reported how big media outlets published material derivative of the Black Star News’ about that weird, still-unfolding Morgan Stanley case, without crediting the uptown weekly. Now Allimadi seems to be getting sweated by one of Morgan Stanley’s lawyers for investigating how the bank mistreated Curry, its black former employee. In a letter Allimadi received last month, Martin London – lead counsel for Morgan Stanley’s lawyers Paul, Weiss, Rifkind, Wharton & Garrison – wrote: ‘If you print one word linking me or my law firm to any such conduct … you do so at your extreme and material risk.’ The New York Observer and the New York Post have both published pieces about the Morgan Stanley/Curry case. Think Arthur Carter and Rupert Murdoch get mail like that?" –February 16-22, 2000 [Allimadi’s note: I’m happy to report that I did not find a dead horse’s head next to me in bed – not yet anyway]

What was Paul Weiss's Connection to Curry Scandal?

Was there any? More later.

Martin London and Paul, Weiss, Rifkind, Wharton & Garrison background

The firm has extensive ligitation experience. White-collar crime and securities class actions are where they seem to perform well. Martin London has been described as "a zealous and vigorous advocate."

http://en.wikipedia.org/wiki/Coutts
Customers
Historically Coutts was a clearing bank to the landed gentry, but today they are seen as wealth managers sometimes willing to accept a wider class of clientèle, including entrepreneurs, entertainers, sportsmen, businessmen, chief executives and pop singers. There are however stringent requirements to being accepted as a client, not just based on average and total financial assets. Prospective clients need at least £500,000 (US$800,000) in 'disposable funds', not including houses.[4]
Despite the fact that, since the banking crisis of 2008-2009, the bank is majority-owned by the British Public, Coutts is known as a bank for the rich and famous of British society and highly secretive about its client list, which in the past has included Queen Victoria, Lord Byron, Frédéric Chopin, the Duke of Wellington, Charles Dickens, Lord Nelson and The Beatles. But they are also known to be extremely selective in whom they accept as customers, allegedly refusing to take former glamour model Katie Price (aka 'Jordan') as a client,[5] in spite of her being worth an estimated £30 million (US$48million).[6]
Coutts is also known as the "Queen's Bank" to many by virtue of it being reputed to be the bankers to the British Royal Family[7] and a Coutts' Automated Teller Machine (ATM) is in the basement of Buckingham Palace for use by the Royal Family and Household.[citation needed]
They have a regular presence at the annual Cannes Film Festival[8] and have replaced their famous 'World Signia' charge card with a 'Purple' charge card, designed by Savile Row tailor Ozwald Boateng.[9]
Within the UK it is the largest private banking house and has specialised departments meeting the needs of entertainers, entrepreneurs, film-makers, partners in consulting and law firms, non-domiciled persons and extremely wealthy individuals.

http://en.wikipedia.org/wiki/Tower_270
EXCERPT:
Manhattan Project
The building's location gives its name to the Manhattan Project.
The initial proposed name for the development of the atomic bomb was "Laboratory for the Development of Substitute Materials." Fearing the name would draw undue attention General Leslie Groves changed it to the "Manhattan Engineer District" which was eventually shortened to the Manhattan Project. The name was based on the Corps practice of naming its districts on the basis of it headquarters.
Coordination for the project moved to Oak Ridge, Tennessee in 1943, but the name stuck.[3]

[edit] Post-War

After the war, the building at the corner of Chambers and Broadway northwest of New York City Hall was acquired by the State of New York for $3.7 million for a state office building.[4]
It became the Arthur Levitt State Office Building providing New York City offices for members of the New York State Assembly and New York State Senate. In 2000 it was sold for $33.6 million in a sealed bid transaction that at the time was the highest-valued property sale ever consummated by the State of New York.[5]

http://en.wikipedia.org/wiki/The_Death_and_Life_of_Great_American_Cities
The Death and Life of Great American Cities, by Jane Jacobs, is a greatly influential book on the subject of urban planning in the 20th century. First published in 1961, the book is a critique of modernist planning policies claimed by Jacobs to be destroying many existing inner-city communities.
Reserving her most vitriolic criticism for the "rationalist" planners (specifically Robert Moses) of the 1950s and 1960s, Jacobs argued that modernist urban planning rejects the city, because it rejects human beings living in a community characterized by layered complexity and seeming chaos. The modernist planners used deductive reasoning to find principles by which to plan cities. Among these policies the most violent was urban renewal; the most prevalent was and is the separation of uses (i.e. residential, industrial, commercial).
These policies, she claimed, destroy communities and innovative economies by creating isolated, unnatural urban spaces. In their place Jacobs advocated a dense and mixed-use urban aesthetic that would preserve the uniqueness inherent in individual neighborhoods.[1] Her aesthetic can be considered opposite to that of the modernists, upholding redundancy and vibrancy, against order and efficiency. She frequently cites New York City's Greenwich Village as an example of a vibrant urban community. The Village, like many similar communities, may well have been preserved, at least in part, by her writing and activism. The book also played a major role in the urban development of Toronto, Ontario, Canada, where Jacobs was involved in the campaign to stop the Spadina Expressway.[2]
The book continues to be Jacobs' most influential, and is still widely read by both planning professionals and the general public. Urban theorist Lewis Mumford, while finding fault with her methodology, encouraged Jacobs' early writings[3] in the New York Review of Books. Robert Caro has cited Jacobs' book as the strongest influence on The Power Broker, his biography of Robert Moses.
Jacobs' writings were an important influence on New Urbanism, an architecture and planning movement which emerged in the 1980s.

http://en.wikipedia.org/wiki/Robert_Moses
EXCERPT:
Part of the Triborough Bridge (left) with Astoria Park and its pool in the center
Robert Moses had power over the construction of all public housing projects, but the one position above all others giving him political power was his chairmanship of the Triborough Bridge Authority.

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