On Thursday, a federal jury found Mathew Martoma guilty of insider trading. Martoma, who's only worth a hundred million or so, is small potatoes. He's taking a fall for his boss–and his boss' mommy–and her monkey.
Martoma's boss is Steven A. Cohen, worth about $9 billion, who directs a criminal enterprise masquerading as a hedge fund called SAC Capital. The description of SAC as a crime scene is drawn from the findings of the jury, Securities and Exchange Commission charges and Cohen's own confessions. While eight of Cohen's partners-in-crime have been convicted and Martoma is about to join them in the Big House, Cohen has performed enough ju-ju on the system to keep charges filed against him personally to civil, not criminal, counts. So far.
Why would a guy who's stuffed billions of dollars of tainted money in his pocket risk SEC charges just to get another billion? The answer: Steve needs to make his mommy's monkey jump.
The story's a lot of fun–and extraordinarily important, as Congress decides (Show me more...)
Far more insidious, more corrosive and dangerous than the Governor of New Jersey playing traffic warden is the story of Gov. Chris Christie's secret meetings with a gaggle of billionaires ––and the legality of the spending by the front organization set up following these hidden hugger-muggers.In 2012, a tax-exempt “social welfare organization” called Committee for Our Children's Future, CCF, ran a series of TV ads telling America that Governor Christie has performed more miracles in New Jersey than Jesus did with loaves and fish. The New York Times found some old college chums who said they set up the “Children's” crusade for Christie. But the ads cost about $6 million. The Times didn't ask how Christie's buddies, not wealthy guys, found the six big ones.
But CCF was not started in 2012. When I heard “Children's Future,” my nose started twitching. I smelled Koch.
Get the full story of Chris Christie and his Koch addiction in the book, Billionaires & Ballot Bandits: Greg Palast investigative Karl Rove, the Koch Gang and their Buck Buddies and the film of the investigation on the DVD Vultures & Vote Rustlers.
....for donations to our foundation, so you can take my word for it when I say, we need it.
The Theft of the 2016 race is under way –– and the vote rustlers expect to grab Congress in 2014 as an appetizer. Plus, the billionaire boys club is sucking our financial blood as if the world economy is their vampire blood bank.
Donate at least $80 right now, and I'll send you, as thanks, the Vultures Combo: our new film on DVD, Vultures and Vote Rustlers AND a hardbound copy of Vultures Picnic, and I'll sign both. Check out thetrailer. And it's tax-deductible.(Show me more...)
I can't take it anymore. All week, I've watched Nelson Mandela reduced to a Barbie doll. From Fox News to the Bush family, the politicians and media mavens who body-blocked the anti-Apartheid Movement and were happy to keep Mandela behind bars, now get to dress his image up in any silly outfit they choose.
It's more nauseating than hypocrisy and ignorance. The Mandela Barbie tells us in a squeaky little doll voice, not his own, that apartheid is now "defeated" - to quote the ridiculous headline in the Times.
Poor Mandela. When he's not a doll, he's a statue. He joins Martin Luther King as another bronzed monument whose use is to serve a new version of racism, Apartheid 2.0, worsening both in South Africa - and in the USA. (Show me more...)
Call me crazy, but I’ve couldn’t stop myself: I’ve made a film about the scoundrels, scalawags, scumbags and bankers just in time to roast their chestnuts on an open fire.
Vultures and Vote Rustlers combines my favorite eight investigations for BBC-TV and Democracy Now into a one hour film that will make you howl with laughter — and with anger—or your money back. (Show me more...)
Cohen says he'll pay the $1.2 billion from his own pocket — but it's a pretty big pocket. His net worth just hit ($9.4 billion). It would have been an even $10 billion, but last year he coughed up over half a billion for his company's illegal trades. (Show me more...)
On May 6, 2008, twelve fraudulent voters, dressed as nuns, attempted to cast ballots in the Presidential Primary in Indiana.
Luckily, ten of them were caught, stopped cold by Indiana's new voter photo ID law. The law had been found to be constitutional by Federal Judge Richard Posner of the 7th Circuit Court of Appeals.
It turns out the nuns that Posner's ruling turned away were, in fact …nuns. All the sisters had photo drivers licenses, but they had expired (the licenses, not the nuns). The Sisters of the Holy Cross, had, mercifully, given up driving (they were pushing 90 years of age.)
It was a cute story that ran nationwide. What wasn't so cute, and ran nowhere in the US press, was that 72,000 Black voterswere blocked at the polls by this Posner-blessed photo ID law.
On September 18, hip-hop artist Pavlos Fyssas, a.k.a. Killah P, was stabbed outside a bar in Keratsini, Greece.
Larry Summers has an air-tight alibi. But I don't believe it.
Larry didn’t hold the knife: The confessed killer is some twisted member of Golden Dawn, a political party made up of skin-head freaks, anti-immigrant fear-mongers, anti-Muslim/ anti-Semitic/ anti-Albanian sociopaths and ultra-patriot fruitcakes. Think of it as the Tea Party goes Greek.
Following Fyssas’ killing, other groups of dangerous psychopathic misfits, namely the European Union and Greece’s governing coalition, moved to ban Golden Dawn.
Over the weekend, Greece’s rulers arrested six members of Parliament who belong to Golden Dawn. Apparently, Greece’s political leaders prefer (Show me more...)
By Greg Palast.
Updated from the original article published onTheMudflats.net
Note from TheMudflats.net: In 2011 Karl Rove wrote a column called “Why Obama Is Likely to Lose in 2012” - Rove was betting on North Carolina to be a swing state for the Republicans... Romney took the state but to Rove's surprise he failed at stealing Ohio for the third time. Just Google "Karl Rove Meltdown," and you'll see a video from Fox News election night, he did not take it well.
After the knock-down of the Voting Rights Act by the US Supreme Court earlier this year North Carolina jumped at the chance to (Show me more...)
Joseph Stiglitz couldn't believe his ears. Here they were in the White House, with President Bill Clinton asking the chiefs of the US Treasury for guidance on the life and death of America's economy, when the Deputy Secretary of the Treasury Larry Summers turns to his boss, Secretary Robert Rubin, and says, "What would Goldman think of that?"
Then, at another meeting, Summers said it again: What would Goldman think?A shocked Stiglitz, then Chairman of the President's Council of Economic Advisors, told me he'd turned to Summers, and asked if Summers thought it appropriate to decide US economic policy based on "what Goldman thought." As opposed to say, the facts, or say, the needs of the American public, you know, all that stuff that we heard in Cabinet meetings on The West Wing.
Summers looked at Stiglitz like Stiglitz was some kind of naive fool who'd read too many civics books.
When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn't believe it.
The Memo confirmed every conspiracy freak's fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3% unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.
The Treasury official playing the bankers' secret End Game was Larry Summers. Today, Summers is Barack Obama's leading choice for Chairman of the US Federal Reserve, the world's central bank. If the confidential memo is authentic, then Summers shouldn't (Show me more...)
In his career as an investigative journalist, economist, and bestselling author -Vultures' Picnic, Billionaires and Ballot Bandits, The Best Democracy Money Can Buy - Greg Palast has not been afraid to tackle some of the most powerful names in politics and finance.
From uncovering Katherine Harris' purge of African-American voters from Florida's voter rolls in the year 2000 to revealing the truth behind the "assistance" provided by the International Monetary Fund and the World Bank to ailing economies, Palast has not held back in revealing the corruption and criminal actions of the wealthy and powerful.
In a recent interview on Dialogos Radio, Palast turned his attention to Greece and to the austerity policies that have been imposed on the country by (Show me more...)
You just knew it had to be one of those brie-biting, Sartre-spewing, overly-garlicked Frenchmen who pushed the Earth's finance system over a cliff.
This week, US prosecutors finally began the trial of the only person on the entire planet whom they have charged with the financial crimes that sank worldwide stock markets by trillions in 2008 and left millions homeless and jobless, from Detroit to Manchester.
Amazingly, say prosecutors, it all came down to a single Frenchman, Fabrice "Fabulous Fab" Tourre, only 29 years old at the time. Even Julius Caesar waited until he turned 51 to bring the known world to its knees.
Here's the story which his defence team does not dispute:
In August 2007, hot-shot hedge fund manager John Paulson walked into Goldman Sachs with a (Show me more...)