Global Economic Tsunami - The Sith Lords Cometh

by RoryKearney | February 20, 2010 at 08:02 am

1796 views | 13 Recommendations | 3 comments

Double, double toil and trouble; Fire burn, and cauldron bubble.
William Shakespeare, "Macbeth", Act 4 scene 1
http://www.quotationspage.com/quote/25292.html

Double Trouble Indeed! I read an exciting interview a few weeks ago with Judd Bagley of DeepCapture.com, in which he reveals Overstock CEO Patrick Byrne's long referred to, but never before publicly uttered, Sith Lord. You know, the self annointed one, responsible for the destruction of many fine companies by manipulating the share price and naked shorting the companies out of business, planting rumors and coordinating bear raids with other members of their cartel of crooks.

Years ago Patrick gave us the initials MM and many of us had long speculated that it was Michael Milken, but we could never be sure. Now we can. It is indeed convicted felon Michael Milken, market manipulator extraordinaire.

But wait. Patrick names another Sith Lord. It's Mike Milken's evil twin. None other than Steven A Cohen. Now Stevie, (as he likes to be called), was just a poor boy claiming he had financial troubles just a decade ago. Now he too has amassed a supersize fortune, traveling the world on his private jets, or relaxing in his Connecticut compound, surrounded by his wife and family, art collection of magnanimous proportions, his full size ice hockey rink complete with zamboni, along with his servants and bodyguards. Cohen's name was recently brought up during the insider trading scandal by employees of Raja "The Rat" Rajaratnam, another multibillionaire stock manipulator, now under indictment, who worked for Cohen in the past.

How does a con artist go from rags to uber riches in a decade?
Could it be by stealing and colluding?

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""DEEP CAPTURE TEACHES that hedge fund managers and Wall Street journalists have become intertwined in a wide web. But the juiciest part of the lore is that there’s a “Sith Lord,” like in Star Wars, at the center of the evil. The Sith Lord turns out to be Sith Lords. “It’s Steven Cohen and Mike Milken, though I’ve never said that to a reporter,” says Patrick Byrne, Overstock’s CEO.""

http://www.observer.com/2010/media/shooting-naked-messengers

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Milken was also the originator of the CDO (credit default obligation) which he devised when he worked at Drexel Burnham. That was before he went to jail and was barred from the industry, something he has continued to disregard while the SEC fiddles.Barred from the industry indeed! He is still pulling the strings and his puppets are still dancing and singing all over Wall Street and the Government. While his, along with their fortunes, are increasing exponentially, you are left kissing your jobs, houses and assets goodbye.CDO's were recently used to melt down the market and the banks and AIG causing the biggest bailout in history, and windfall profits to the bankers who took advantage of "we the people" and snagged for themselves their best year ever, netting themselves unfathomable bonuses in the multi millions for their thievery, at our expense.


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How does one manipulate markets when they are barred? Stock parking is just one way. Mark Mitchell just published another excellent exposé mentioning Milken and his corrupt tentacles.

How “Activist Investors” David Einhorn and Dan Loeb Brought Their Special Talents to Bear On New Century Financial

18 February 2010 by Mark Mitchell

Did hedge fund managers David Einhorn and Dan Loeb sabotage the nation's second largest mortgage lender -- and the American economy?

Read the full story

excerpt

"Some weeks before the luncheon, Michael Milken had appeared in the offices of a top Allied Capital executive. “You know,” Milken told the executive, “I already am quite a large shareholder of your stock – but my name will never show up on any list you’ll see.” This may have been a reference to a practice called “parking stock” (owning stock but “parking” it in the accounts of friends with whom one has made under-the-table arrangements), a practice that figured in the high-count indictment that sent Milken to prison in the 1980s. Milken appeared to the Allied executives to be threatening Allied and fishing for information, paving the way for Einhorn’s more public vitriol."


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Milken also helped delay a fabulous non invasive, non toxic immunotherapy for prostate cancer for almost 3 years, profiting handsomely by the delay.


Milken is one demented patient "advocate", fighting against, instead of for, better, safer treatments for men that prolongs survival, sometimes by many years.

Milken helped start Proquest Investments years ago, (despite being barred from influencing markets since he secured his early release from prison, and later being fined after he got out for manipulating markets again anyway), an investment firm founded around prostate cancer treatments. Needless to say, Proquest didn't need no steenkin' immunotherapies, and has made hundreds of millions off of the Provenge delay.

These crooks are "in your face" BOLD.

Milken also started Milken's Global Institute, http://www.milkeninstitute.org/, a think tank, where he invites all his accomplices in crime, as well as anybody rich enough or influential enough to rate entry into his ever widening circle. The world has never been in worse shape since the crooks captured our government and our thinking. Ain't no stopping this multi-billionaire steamroller.

"The Milken Institute Global Conference brings together some of the most extraordinary people in the world – from scientists, business executives and philanthropists to journalists, academics and Nobel laureates – to discuss, debate and deliberate today’s most pressing social, political and economic challenges. The 2010 Global Conference will take place April 26-28 at The Beverly Hilton in Los Angeles.The Global Conference has become an important venue for thought leaders in a wide range of disciplines to present their views before an informed, influential audience and the news media. It is also an important place for peer-to-peer meetings to take place.Among the participants are Nobel laureates, hundreds of CEOs from the world’s top-tier companies, senior elected and appointed foreign and U.S. government officials, high-level executives in the American and foreign capital markets, global academic experts and leaders in education, health care and philanthropy.For a sneak preview of what we have in store in this, take a look at the current lineup of speakers and sessions. View speaker list View sessions"

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Excerpt from Patrick Byrne Overstock CEO press release

" announced Overstock's lawsuit against Rocker in an August 12, 2005 conference call I titled, "The Miscreants' Ball". In that call (and in subsequent elaboration on DeepCapture.com) I claimed that a network of dirty Wall Street players was engineering modern bear raids, destroying companies and destabilizing the system. I claimed that the network of hedge fund manipulators and compliant reporters intersected in a dirty journalist named Jim Cramer. In the network, I claimed, were hedge funds such as David Rocker's; putatively independent research firms like Gradient which essentially took dictation from hedge funds; a small group of financial journalists such as Herb Greenberg and Carol Remond who, it appears, also took assignments from this hedge fund network; Milberg Weiss (a plaintiff's class action law firm which was coordinating its lawsuits with these bear raids); and Eliot Spitzer (whose investigations as New York's Attorney General mirrored the trading activities of these hedge funds, which were among his largest backers). In addition, I said that the SEC was saying grace over all of this because they had become hopelessly "captured" by Wall Street's worst elements.

Since then, the SEC's turn-a-blind-eye deference towards Wall Street has been revealed by the Aguirre and Madoff-Markopoulis affairs (if not much more); Milberg Weiss imploded under DOJ indictments and its leaders were jailed; Jim Cramer was exposed on national TV for the scoundrel he is; Eliot Spitzer was also exposed (but not yet, I believe, for his real connection to this crew); Herb Greenberg and others of the journalists I named have crawled under rocks (or gone to work for the hedge fund network for which I had so implausibly claimed they were shilling); David Rocker's hedge fund melted down (thanks, according to DowJones, to the SEC finally closing the gaping option market maker loophole against which Overstock had been lobbying for three years - if only, the SEC would not institute a pre-borrow requirement); and Rocker Partners is paying Overstock $5 million (that is on top of Gradient's earlier retraction and apology, and any monies Gradient paid which I cannot disclose)."

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Patrick Byrne, a hero to so many of us who want to see the stock market and the country and world cleaned of the corruption. He is the CEO of the retailer Overstock.com http://www.overstock.com and also runs the site DeepCapture.com. He is a man determined to do what is right instead of what is popular. He is a trust fund baby, and could have easily skied away from it all, but he knows right from wrong, and knew that if he remained silent, we would have nobody to look out for us. Certainly not O'Reilly. We contacted him many times about the Provenge debacle, but like most of the thousands of people and politicians we contacted, he refused to cover the story. A few Congressmen did call for an investigation, but the head honchos running our Government quickly quashed it, preferring instead to hold steroid hearings where nobody has died, and let the 70,000 men who might have benefited from Provenge, go quietly off to pasture. So concerned about global warming but not for dying men they could help. Hypocrisy thy name is Congress.

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Mark Mitchell did a story on the Dendreon Provenge Debacle on Deep Capture. You can download it here.

Michael Milken and Dendreon

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Jim Cramer moved his lips trashing this treatment, Dendreon's Provenge, on his Mad Money show. Now what would a shyster like Cramer know about an immunotherapy. Nothing! Scientists on the cutting edge spend hours pouring over the data to reach conclusions. Cramer can't do that kind of homework. He can only spit out lies. I have documented his many lies about Provenge in several of my past Now Public blogs. http://www.nowpublic.com/tech-biz/jim-cramer-wall-street-try-bury-cutting-edge-treatment He went so far as to equate it to a fake drug, Provasic, that was used in the movie The Fugitive.

After years of trashing Provenge, Cramer is now singing its praises. Stevie Cohen took a large position. We believe the treatment will be approved any day now, in spite of Cramer trying his hardest to bury it for years. Our attorney, Kerry M. Donahue recently received an award for fighting to keep Provenge from being railroaded.

Read about it here >> http://caretolive.com/2010-02-19/ctl-attorney-kerry-donahue-gets-pro-bono-award-for-provenge-cancer-treatment-advocacy/

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It has always stuck in my craw that Obama appointed Margaret "Peggy" Hamburg to run the FDA. Her husband Peter Fitzhugh Brown, runs Renaissance Technologies, one of the largest hedge funds in the world.

How can somebody who profits off of the rise and fall of food and pharmaceutical products, be put in charge of running the FDA. Is it nconscionable.

Wow! Peter Fitzhugh Brown was removed from the Renaissance Wiki Page. Unbelieveable. He was on there. I saw it and once quoted it. We have known for some time that the wiki is captured, and this is just another example. The page used to say:

"Peter Fitzhugh Brown, an artificial intelligence expert, who is a director at Renaissance Technologies, a New York hedge fund." http://en.wikipedia.org/wiki/Renaissance_Technologies

Margaret Hamburgs wiki page has no mention of her husband as CEO of Renaissance Technologies Hedge Fund. Her page neatly skirts the issue."She is married to artificial intelligence researcher Peter Fitzhugh Brown, with whom she has two children."[4]http://en.wikipedia.org/wiki/Margaret_Hamburg * * * *They must think we all have artificial intelligence.Of course Hamburg sailed through the approval process by a captured Congress.To quote a friend, "The system is rigged and incestuous."

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Shhh, It's a secret.

No mention of FDA Head Honcho Hamburg here in the Renaissance press release.

Billionaire James Simons, the founder of hedge fund firm Renaissance Technologies Corp., will retire from his post as chief executive officer, a person familiar with the matter said. Simons, 71, will stay on as non-executive chairman, according to the person, who asked not to be named because the information is private.

Bob Mercer and Peter Brown, the current co-presidents of the East Setauket, NY-based firm, will become co-CEOs of Renaissance as of Jan 2010, the person said.

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Check out this story from 2009.

Hemispherx Biopharma Pays Exec Bonuses, Will Expand Efforts In Pandemic Influenza Initiatives PDF | Print | E-mail Written by M.E.Garza Wednesday, 27 May 2009 00:00

"Version:1.0 StartHTML:0000000167 EndHTML:0000004008 StartFragment:0000000484 EndFragment:0000003992 I appreciate that you are attempting to keep people current on the situation with Hemispherx, however I think it’s important for you to separate fact from speculation. In your article you note that, “Interestingly, a hedge-fund sponsor Renaissance Technologies, where Mr. Brown works owned 34,500 shares in HEB and added 23,000 more recently according to the latest Mutual Fund Facts report,” however you fail to mention that the same company also owns several thousand shares of OCLS (http://www.mffais.com/OCLS) which received approval today. I think this would be important to note in your article as many are taking this information and drawing unfounded conclusions. . . . . . "As I scan the list I can see that in addition to HEB, the fund has quite a few shares of at least one other company that has a pending FDA decision from our Exclusive FDA and Clinical Trials Calendars. ... new New Food and Drug Commissioner Margaret Hamburg and her husband, hedge fund executive Peter Fitzhugh Brown, reported an income of at least $10 million in 2008, according to financial disclosure forms filed with the White House. Her husband Peter is an expert on artificial intelligence and works with James Simons, the country’s top hedge fund earner last year. . . . as far as we can tell, the same fund in question can trade any biotech stocks so long as the FDA Commissioner or her husband do not own any shares in the actual fund itself. The fact that her husband is still actively involved in managing and is compensated for those funds has some investors wondering if that is a conflict of interest." * * * * * Are the bankers like Goldman Sachs and John Paulson conspiring against Greece? http://blogs.alternet.org/speakeasy/2010/02/18/rumors-heat-up-in-europe-that-goldman-sachs-and-john-paulson-are-waging-attacks-on-greece/

This sort of media manipulation may seem somewhat conspiratorial, but it is perfectly believable in the world of finance (also believable, I suppose, that someone is spreading false rumors about Goldman and Paulson). Information drives market conditions, and by releasing information strategically, “credible” sources (such as powerful investors) can move markets in their preferred direction.

During the subprime days, Goldman played journalists like a fiddle, suggesting that the subprime sector would recover and making moves to buy lenders at the same time that they were privately making extremely bearish bets on the mortgage sector. These (apparently highly deceptive) professions of faith in the mortgage industry may have helped lower the cost of any protection they bought, essentially helping them find suckers to take the other ends of their bets.

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Why the money changers prefer to foreclose on your house, rather than help you refinance.

http://www.thinkbigworksmall.com/mypage/player/tbws/23119/-3475

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http://www.youtube.com/watch?v=Gsx6tEXHi44

Other Now Public Stories by Rory Kearney

Hey Hey FDA How Many Men Died Today? or The Milken-Madoff-Bonanno-Genevese-Gambino-Goldman Exemption
Care To Live & Deep Capture in a Twitter Over Death of 60,000
Will Dendreon Break FDA and Wall Street Stranglehold on Cancer?
Prostate Cancer History Was Made Today
CareToLive Provenge Prostate Cancer Petition at FDA 620 Days
Jim Cramer's Nemesis Patrick Byrne On The Daily Show
Financial Gurus Smug Bailout Greetings - Burn Baby Burn
Short, Naked, Crooked, & in Charge
FDA Creates Human Ticking Time Bombs
There Oughta Be A Law
Wall Street Captures Press & Politicians & Make Chimps Of Us All
Wall Street Whistleblower Gets Head Bashed In With Brick
It's a Milken Madoff Mafia Markopolos World!
The Magic Madoff Show - Now You See It, Now You Don't
The Madoff Exception - Market Mystery Revealed
Hell Hath No Fury Like a Woman Ponzied
Care To Live Vs. The Prostate Cancer Advocacy Groups
Secret to Hedge Fund Profits Revealed - Laws Don't Apply to Rich
I'm Madoff As Hell And I'm Not Going To Take This Anymore!
More Prostate Cancer Smoke & Mirrors From the Broken FDA
Overstock.com CEO Throws Down the Gauntlet
Wall Street Bulldozes A Company, But FFH Won't Die!
TheStreet.Com - Captured Journalist Heaven
Madoff and the Smirking Larry Kudlow and Press
Canadian Company Fairfax Financial Attacked From Down Under
Liquidity Thy Name Is Madoff — Full Court Captured Press & SEC
Mad Dog Madoff Steals 50 Billion, Gets Bail - Tip of the Iceberg
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