You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #3: Bear Stearns. Let's throw in the Ace (Greenberg) [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Topic Forums » September 11 Donate to DU
DrDebug Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-01-06 02:11 AM
Response to Original message
3. Bear Stearns. Let's throw in the Ace (Greenberg)
The Bear Stearns Companies, Inc. is the parent company of Bear, Stearns & Co. Inc., one of the largest and best-known global investment banksand securities trading and brokerage firms in the world. The company was founded in 1923 and serves corporations, institutions, governments and individuals. The company's business includes corporate finance, mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers global clearing services to broker dealers, prime broker clients and other professional traders, including securities lending.

The former CEO of Bear Stearns was Alan Greenberg, currently chair of the board, and is the cousin of Maurice Greenberg and part of the AIG group of course. (1)

9/11
Bearn Stearns was named one of the inside traders of 9/11. Their stocks were traded 60 times the usual amount as well. (2)

Bush family
Bear Stearns, of course, is where the Bush family, the Cheney family, George Schultz, James Baker, etc. all do business. It is the leading brokerage firm of the great and all powerful Bushonian Cabal. (1)

Harken Energy, Texas Rangers and Clear Channel

by Al Martin

The $7 million that Bush Jr. put into the deal came from the Harken Energy stock fraud. He and his father George Bush Sr. entered into a conspiracy with Bear Stearns and others to artificially manipulate the price of Harken Energy stock, wherein the Bush Family illicitly proceeded to trade their shares "against the box," through the Pilgrim Investment Trust, the Bush Family-controlled Panama-registered investment entity, wherein the price of Harken Energy stock was pumped up from 1-1/ 4 up to 7-3/8 and then dumped all the way back down again. This whole round trip as it were was accomplished in only about 4 months time. By being long at the bottom through the Pilgrim Investment Trust with shares that they had borrowed from Bear Stearns -- by the way. They didn't even put up their own damn shares. It's one thing to commit a scam, but the Bushes added a new twist. They commit scams with Other People's Money. They take it one step further by using OPM to commit the scams. Thus they generate the money for nothing.

So then Bush Jr. takes the $7 million out of the Harken Energy Stock Swindle that he and his father orchestrated with their longtime ally Ace Greenberg, chairman of Bear Stearns. He then invests in a syndicate to buy the Texas Rangers sports franchise. Then Bush becomes part of the general management of the team and proceeds to run the team into the ground, financially speaking. Then he is allowed to sell his interest back to the syndicate, including his shares in Mays Hicks for 4 times what he paid for them. Despite the fact the franchise was worth only half of the purchase price since he had "managed" it . In order to bail the whole deal out, he as governor of Texas then authorizes the expenditure of $345 million of public monies in order to build the new stadium and surrounding complex for the Texas Rangers.

(...)

The syndicate was composed of the Hicks Muse crowd essentially. James Baker was an investor in it and so was Dick Cheney. Then how this ties in to Clear Channel Communications is that Hicks was the regent of the University of Texas, which is another whole scam. This is a scam within a scam. The regents of the University of Texas is an infamous scam.

(...)

Everybody promoted Clear Channel stock then, not only Bear Stearns, but Merrill Lynch and JP Morgan, and they ran it up. They got everybody to promote the stocks. so it got as wide as possible distribution. All these stocks were coming out of Clear Channel, and there was an enormous amount of money coming in with virtually no accountability as to how they have to spend that money. Then they can start paying 2 or 3 times what radio stations are worth just to own them. It was simply for the ownership of the market. It doesn't have anything to do with making any money. And yet the stock, which is now in the 40s, still trades in what is over a 35 P/E I think. It is still considered a high P/E stock.

http://sci.rutgers.edu/forum/archive/index.php/t-23809.html


Trilateral scam: Link in the OP

Enron

The Wall Street Journal reports that Bronx lawyer Bernard Glatzer is still pursuing Enron and Bear Stearns over a strategy he says he developed in the late 1980s to securitize natural gas production. Glatzer, who filed suit in New York in 1995, claims Bear Stearns passed the strategy on to Enron and Jeff Skilling. Glatzer hadn't been heard from for several years. He showed up in some New York Times stories in early 2002, after his falling out with lawyer David Boies. Glatzer said he fired Boies after finding out the lawyer was representing former Enron Chief Financial Officer Andrew Fastow.

Glatzer settled with Bear Stearns several years ago, but now claims that settlement was violated, according to the Journal.

Glatzer says Skilling is the only one who knows the answers that can prove his case. If Glatzer succeeds in getting Skilling named as a witness, Skilling's lawyer says he'll try to get the case postponed until after the Enron criminal trial in January.

http://online.wsj.com/article/0,,SB111810792577952529,00.html?mod=todays_us_money_and_investing
Via: http://blogs.chron.com/lorensteffy/2005/06/glatzer_still_o.html


Sources:
1. http://www.bradblog.com/archives/00002259.htm
2. http://www.globalresearch.ca/articles/HEN204B.html
Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » Topic Forums » September 11 Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC