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Elizabeth Warren rips SEC chief: ‘disappointing’ (?Lying to a Senator?)
Last edited Wed Jun 10, 2015, 11:03 PM - Edit history (5)
Some may have paid attention to the fact that yours truly has finally found an attorney who won't be bribed off our case verses Mitt Romney, Paul Traub, Bain Capital and Goldman Sachs. Immediately after our publicizing this issue, an alarming event took place where the SEC's head, Mary Jo White, has announced that she is placing the head Goldman Sachs attorney in charge of personnel at the SEC.
Apparently we are not the only one's outraged about this issue as Senator Elizabeth Warren sent a 12 page scathing letter lambasting Mary Jo White for failing the American People.
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As remarked by Kevin G. Hall's McClatchy story "Elizabeth Warren rips SEC chief: ‘Extremely disappointing’" it notes below the picture provided above - that Senator Warren "all but called" Mary Jo White an incompetent - as the pic sub-caption remarks;
Sen. Elizabeth Warren addresses the California Democratic Party Convention on May 16, 2015, in Anaheim, Calif. In a blistering 13-page letter Tuesday to SEC Chair Mary Jo White, the firebrand liberal Democrat from Massachusetts and sworn enemy of big banks all but called the former prosecutor an incompetent regulator.
credit pic to IRFAN KHAN — TNS
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[center][font size=5]Mary Jo White as head of SEC has been a disappointment[/font][/center]
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Those who have been following our case against Bain Capital and Goldman Sachs are well aware that the parties have been getting away with openly breaking the law for at least 14 years. In our eToys case, Goldman Sachs took eToys public for $85 per share and then only allowed eToys less than $20 per.
Amazingly, we have confessions that the eToys counsel (MNAT.com) was secretly working for Goldman Sachs when it applied (and lied) to the Delaware Federal court to approved as eToys Debtor's counsel.
But that Judge and the United States Trustee, along with the Delaware Department of Justice, all refused to investigate and/or prosecute MNAT and/or Goldman Sachs.
Federal Corruption of those investigating Goldman Sachs.
This was due to other issues of merry-go-round of conflicted personnel that wound up at the Department of Justice.
Plain to see is the Dept. of Justice resume of Colm Connolly (HERE) is that clearly shows Colm was an Assistant U.S. Attorney in Delaware until 1999. Then, in August 2001, Colm Connolly became the full United States Attorney in Delaware, who presided over the eToys, Bain Capital and Goldman Sachs cases.
1992 - 1999 United States Attorney's Office
District of Delaware
Assistant United States Attorney
1999 - 2001 Morris, Nichols, Arsht & Tunnell LLP
Partner
2001 - present United States Attorney's Office
District of Delaware
United States Attorney
Unfortunately, yours truly did not learn of the fact that the very person we were asking to investigate and prosecute Bain Capital, Goldman Sachs and MNAT - was also an MNAT partner from 1999 through most of 2001.
When we reported this issue of federal corruption to the Public Corruption Task Force in Los Angeles, on December 7, 2007 (once a retired FBI agent gave me proof about Colm Connolly's conflict of interest) - the result of that Complaint (HERE) was that the Public Corruption Task Force was Shut-Down and career federal prosecutors were reportedly threatened to keep their mouths shut - as to the reasons why.
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As is plain to see (per the instructions of a federal judges clerk) yours truly requested and received a time stamp on each and every page of the Complaint. Also the corresponding pleading with greater details was time clocked on each and every page.
Per the clerk's instruction, we intentionally did not (completely) white out the California boiler plate mark at the time right hand side of the court's form. So that the Los Angeles federal prosecutors office would see that the form came from that region.
When the answer was due as to - whether or not - there would be any formal investigation and/or prosecution, we received no word. Then, to our chagrin and that of federal personnel assisting yours truly, the Public Corruption Task Force was shut down. According to the Los Angeles Times March 2008 article "Shake-up roils federal prosecutors" - career federal employees were also threatened to keep their mouths shut - as to the reasons why.
As noted by the Los Angeles Times article, critics state the dismantling of the Public Corruption Task Force would severely limit the DOJ's ability to prosecute complex federal corruption cases. As written;
The lawyers described a meeting last week in which an angry O'Brien derided attorneys in the office for working too few hours, filing too few cases and for speaking ill of him to subordinates.
They said O'Brien also threatened to tarnish their reputations if they challenged the official explanation for the unit's dismantling in conversations with reporters. Members of the unit contacted by The Times either spoke on the condition that they not be named or declined to comment. Several said they wanted to talk about the situation but feared reprisals if they did so.
Critics of the move said they were concerned that it would severely limit the office's ability to file long-term, complex corruption cases involving elected officials and other high-profile figures.
They said O'Brien also threatened to tarnish their reputations if they challenged the official explanation for the unit's dismantling in conversations with reporters. Members of the unit contacted by The Times either spoke on the condition that they not be named or declined to comment. Several said they wanted to talk about the situation but feared reprisals if they did so.
Critics of the move said they were concerned that it would severely limit the office's ability to file long-term, complex corruption cases involving elected officials and other high-profile figures.
Believe it or not, parties related to our case argued that Goldman Sachs, Bain Capital, Colm Connolly and Mitt Romney did not meet the criteria to be classified as "high-profile figures" for a public corruption case.
Sheessshhh!
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[center][font size=4]Senator Elizabeth Warren's Scathing Letter to SEC's Mary Jo White[/font][/center]
Putting it succinctly (without the Senator addressing our particular case) Elizabeth Warren specifically letter (HERE) iterates that;
The Securities and Exchange Commission (SEC) plays a critical role in the protection of the consumers and investors. On April 20, 2013, you {Mary Jo White} were sworn in as the Chair of the SEC. I {Senator Warren} voted for your nomination despite my concerns about your lack of experience as a regulator. As I said at that time, my hope was that you would be "the strong leader the SEC needs to be a tough watchdog for the American people."
You have now been SEC Chair for over two years, and to date, your leadership of the Commission has been extremely disappointing.
Unfortunately, we are going to learn - the hard way - if what Senator Warren wrote - is consequential. But the indications hereof do not bode well. As is noted by Senator Warren, SEC Chair Mary Jo White appears to have provide "misinformation" to Senator Warren as recent as May 21, 2015. As noted by Senator Warren's 2nd page of her letter to SEC Chair Mary Jo White;
During this confirmation hearing and in the period immediately after, you also made promises to the members of the Senate in four key areas. In each case, you appear to have broken those promises. First, under your leadership, the SEC has failed to finalize important Dodd-Frank rules requiring disclosure of ratio of CEO pay to the median worker. Second, the SEC has failed to curb the use of waivers for companies found to be in violation of securities law. third, the agency has settled the vast majority of cases without requiring that companies admit guilt. And fourth, you have been unable to participate in numerous cases because of recusals related to your prior employment at a Wall Street defense firm, and you have been and will continue to be unable to participate in certain cases because of recusals relating to your husband's ongoing employment at a Wall Street defense firm.
These four major issues are not the only areas where there are concerns about your time as SEC Chair. You have also failed to act to address undisclosed corporate campaign contributions, have presided over new SEC rulemakings that have created large loopholes in important Dodd-Frank disclosure rules, and have issued new rules for small business capital formation that preempted important state consumer protections.
I am disappointed by the significant gap between the promises you made during and shortly after your confirmation and your performance as SEC Chair. We have continued to talk, and you and I met personally on Wednesday, May 21, 2015, to discuss these issues. At that meeting, however, you said little that indicated that you would be changing your practices at the SEC.
These four major issues are not the only areas where there are concerns about your time as SEC Chair. You have also failed to act to address undisclosed corporate campaign contributions, have presided over new SEC rulemakings that have created large loopholes in important Dodd-Frank disclosure rules, and have issued new rules for small business capital formation that preempted important state consumer protections.
I am disappointed by the significant gap between the promises you made during and shortly after your confirmation and your performance as SEC Chair. We have continued to talk, and you and I met personally on Wednesday, May 21, 2015, to discuss these issues. At that meeting, however, you said little that indicated that you would be changing your practices at the SEC.
As bad as all that condemnation of the poor performance of SEC Chair Mary Jo White is, this following remark of Senator Elizabeth Warren, should be enough to get President Obama and/or the Senate to call for Mary Jo's resignation/firing. For, it appears by Senator Warren's remarks - that
Mary Jo White as SEC Chair - LIED to Senator Warren
per the following writing of Senator Elizabeth Warren about SEC Chair Mary Jo White that;
Even worse, at that same meeting, you provided me with what appeared to be misleading information about the timing of new CEO pay disclosure rules that was contradicted by an Office of Management and Budget (OMB) publication released that very same day. My questions and your answers at that meeting were both clear; there could have not been a misunderstanding, and I am perplexed as to how and why you would have provided me with this misinformation.
Below, please find additional information on the concerns related to the failure of SEC under your watch to consistently and aggressively enforce securities law and protect investors and the public, and specific requests related to each of these issues.
Below, please find additional information on the concerns related to the failure of SEC under your watch to consistently and aggressively enforce securities law and protect investors and the public, and specific requests related to each of these issues.
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In our eToys/ Goldman Sachs case, as reported by the New York Times March 2013 OpEd "Rigging the I.P.O. Game" - it is readily apparent that Goldman Sachs knew and schemed about eToys stock price going to $80; but eToys only received less than $20.
Goldman Sachs counsel of MNAT lying under oath to become the eToys Debtor's counsel is one of many crimes that continue to be unaddressed by the Department of Justice and SEC.
As a matter of fact, as counsel for both eToys and Goldman Sachs, the MNAT law firm (while benefiting from perjury) did nominate Paul Traub to be the one to prosecute Goldman Sachs in the New York Supreme Court case of eToys v Goldman Sachs (case number 601805/2002).
Hence, like all other things at the SEC, Goldman Sachs sued Goldman Sachs...
[center]and, as is always like Senator Warren says of Mary Jo White, {the eToys}
victims & American people - LOST![/center]
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[center][font size=6 color=burnt]UPDATE[/font][/center]
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This just in from a reader with a deep sense of what is really going on (somehow, yours truly missed this tidbit). Does this item shock you? It surprises, but is no shock to moi... that;
Top Goldman Lawyer Named SEC Chief of Staff
That's not the shocking little twist. The Goldman Sachs lawyer is Andrew "Buddy" Donahue. And 'Buddy' came from being a partner at the firm Morgan, Lewis & Bockius.
Want to know who else is a partner at Morgan Lewis?
None other than the Goldman Sachs/ MNAT partner in crime and very corrupt former federal prosecutor over the eToys, MNAT and Goldman Sachs case of - Colm F'n Connolly;
COLM F. CONNOLLY PARTNER {Morgan Lewis}
A former United States Attorney, Colm F. Connolly helps companies and individuals faced with complex legal issues across a wide spectrum of subject matters. A seasoned litigator with a national reputation for his courtroom advocacy, Colm has tried dozens of cases in federal and state courts and has made 12 oral arguments before the US Courts of Appeals for the Second and Third Circuits. His practice includes complex commercial and intellectual property litigation, white collar criminal matters, and corporate investigations. He is Managing Partner of the Wilmington office.
- See more at: http://www.morganlewis.com/bios/cconnolly#sthash.4zBgEDt8.dpuf
A former United States Attorney, Colm F. Connolly helps companies and individuals faced with complex legal issues across a wide spectrum of subject matters. A seasoned litigator with a national reputation for his courtroom advocacy, Colm has tried dozens of cases in federal and state courts and has made 12 oral arguments before the US Courts of Appeals for the Second and Third Circuits. His practice includes complex commercial and intellectual property litigation, white collar criminal matters, and corporate investigations. He is Managing Partner of the Wilmington office.
- See more at: http://www.morganlewis.com/bios/cconnolly#sthash.4zBgEDt8.dpuf
Real neat how Colm Connolly's resume at Morgan Lewis actually hides the name of his clients represented.
Would be neat to depose him about such... wouldn't it?
[center] Buddy is really a buddy to MNAT, Goldman Sachs and Colm F'n Connolly[/center]
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http://crooksandliars.com/2015/01/mitt-romney-slapped-racketeering-lawsuit
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[center][font size=6] UPDATE No. 2 [/font][/center]
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L.A. Times article states
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Elizabeth Warren declares war
on Mary Jo White's SEC
and its about time
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I love this reporter (Michael Hiltzik) of the Los Angeles Times and the story follow up on Senator Warren and SEC titled "Elizabeth Warren declares war on Mary Jo White's SEC and its about time".
These are Michael Miltzik's opening remarks of his OpEd;
The longest-running scandal in our financial markets is the indulgence shown banks and other wrongdoers by federal law-enforcement and regulatory agencies, which love to settle criminal cases with little more nebulous admissions of wrongdoing, if that, and modest financial settlements. (Yes, even a multibillion-dollar penalty can be modest for a huge Wall Street firm.)
Pretty cool stuff - I might even do another thread...
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| 1 vote, 0 passes | Time left: Unlimited | |
| Mary Jo White Lied to the American public about intent to clean up SEC | |
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| SEC Chair Mary Jo White lied to Senator Elizabeth Warren | |
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| Putting in Goldman Sachs counsel as head of SEC personnel is to protect Goldman Sachs | |
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| Mary Jo White Should resign | |
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| We need an Elizabeth Warren type to run the SEC | |
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| Goldman Sachs will never get prosecuted for eToys frauds | |
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| It is a fact, everlasting - that Goldman Sachs is Above the Law | |
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| All of the above | |
1 (100%) |
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| Goldman Sachs and Mary Jo White are good people (as corporations are) | |
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| Laser is a kumquat | |
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| 0 DU members did not wish to select any of the options provided. | |
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