Wall Street needs regulation, of that there is no doubt. Gary Miller, (Republican), called Dodd-Frank "scary" because of the hundreds of new rules it mandates. Thus the Republicans are fighting the changes by endeavoring to gut funding of the SEC and other regulatory agencies (see Reuters story ( here)). This, of course, is especially disconcerting. We have Marc Dreier doing 20 years, Tom Petters doing 50 years, OKUN doing 100 years and Madoff 150 years. Yet the right wants to fight any changes to how Wall Street sucks the financial blood flow out of Ameria.
We have knowledge of how all of these crimes are related; because the have common links that ties the right wing Robber Baron's of Goldman Sachs, Bain and Cerberus together. Marc Dreier's partner was Paul Traub, Tom Petters partner was Paul Traub. Fighting their skullduggery forced Traub Bonacquist & Fox to break up. Paul Traub wound up with Marc Dreier and Michael Fox at Olshan Fromme; where they rigged the system by Traub working for the OKUN 1031 federal case and Fox handling OKUN's creditors/Trustee issues. Paul Traub committed crimes in eToys and confessed to supplication of more than 17 false affidavits (some admitted intentional); which accomplished Fraud on the Court. There is no statute of limitation for Fraud on the Court; especially when Traub's organized criminal efforts therein are continuous. Traub was the Creditor's attorney who secretly put in his partner (Barry Gold) as CEO of eToys and then sold eToys assets to Traub and Barry Gold's persistent supplier of cases (Bain) for discounts in the hundreds of millions of dollars. Traub and Barry Gold also schemed with Goldman Sachs attorney (www.MNAT.com ) to defraud the public entity and defeat the NY Sup Ct case of eToys (ebc1) v Goldman Sachs (cs # 601805/2002)
But the real nefarious back door dealings are how Paul Traub keeps going from one scheme case to another; yet he always seems to comes away unscathed. That is because his secret clients (Goldman Sachs & Bain) get away with hundreds of millions and billions of dollars in fraud. Only to see rogue elements within the DOJ provide "Get out of Jail Free Cards" and other betrayals of the public trust by rogue personnel within the Dept of Justice granting illicit promises of willful blindness. (You can see this blogger's battle with this organized criminal enterprise ( here) & ( here)). Many do not know that Goldman Sachs partnered up with Bain to commit federal fraud for millions upon millions; whilst Goldman Sachs also partnered with Cerberus to own another Paul Traub client (Hilco). Hilco and Gordon Brothers were awarded Polaroid (that Traub now owns with Gordon Brothers); though they were the 2nd highest bidders in federal court. Cerberus translates from the Greek = Guardians of the Gates of Hell (see WikiPedia ( here)) and the AlterNet story showing how Cerberus blood sucking became literal in 2010 ( here).
Along with being partners with Tom Petters and Marc Dreier, whilst also being involved with OKUN; it seems that Paul Traub desires to hold the world record for being associated with as many scheme cases as possible. Traub was also involved in the Enron case and Adelphia as well.
We have testimony that Paul Traub is the "brown bag" king of New York. His firm used to be Traub Bonacquist & Yellen. That partnership dissolved because the attorneys there were concerned that his skullduggery would get them investigated by the IRS, the SEC and/or the Dept of Justice. It was through the assistance of those with integrity that we were able to find the Smoking Gun affidavit proof in 2004; which first got Paul Traub in hot water. Unfortunately, instead of prosecuting Paul Traub, the Dept of Justice rogue elements gave him an illegitimate "get out of jail free card" and promise of future DOJ willful blindness. The WHEREAS clauses by Dept of Justice Trial Attorney Mark Kenney are a complete joke (see pg 8 ( here)).
Reporter Mark Ames has a most artful pen; where he describes Cerberus as a firm from the Wall Street Billionaires highway as he states;
"Wall Street vampires. Lately, a lot of Americans, including myself, have used the bloodsucking monsters as a metaphor to describe the Wall Street billionaires who rule us, and who are ruining us. Like so many awful stories of the past few years, it turns out that these Wall Street vampire-billionaires really exist, literally. Like all vampires, they live in remote castles, and they feed themselves by luring poor, desperate humans into their dens, hooking them into blood-pumping machines and sucking out their plasma for mind-boggling profits".
NEWS BREAK - Justified paranoia....
Twice, I have needed to shut my computer down, while writing this story;
due to virus attacks in trying to quote Cerberus story links!
Besides, or rather, in addition to the diary series we are doing on the Goldman Sachs federal system of justice fraud and the many stories about Paul Traub's inexplicable ability to get away with organized crimes - even after he confesses to intentional fraud on the court vis-a-vis false affidavits profuse. There are many more nefarious ruthless acts against America transpiring by Goldman Sachs, Bain and Cerberus; which definitely need a spot light. Reporter Thom Weidlich and Editor David E. Rovella at Bloomberg deserve Kudos for their telling (also staying on top and updating twice more) the story that Cerberus was part of the Extended Stay scheme.
The Bloomberg story points out what we have been saying for a decade.
It has now become big business
to put solvent companies into bankruptcy
to produce lgreater profit business opportunities.
As stated by the Bloombery report Rovella;
" -- Cerberus Capital Management LP and Centerbridge Partners LP were accused in a suit of being part of a scheme to induce David Lichtenstein to put his Extended Stay Hotels in bankruptcy to push out junior loan holders and take over, with senior lenders, the chain’s 680 properties."
We also have researched the history of Bank of America's Fleet Retail Finance and Wells Fargo/Foothill Capital (also Paragon/Ozer) persistent inexplicable ability to always wind up in the front secured lender position of bankruptcy estates. Again, both parties are Paul Traub clients; always being motioned against for undisclosed conflict of interest issues. In our stories on Goldman Sachs and Bain's federal fraud ( here) & ( here)
What they should be subject to are punishments by the Code/Rules of 510(c) Equitable Subordination. This legal punishment for unjust enrichment basically states; if the owner of the debt engaged in bad faith - they are put to the bottom of the payment ladder and/or expunged entirely from getting paid.
We already have proof in the eToys debacle, that Paul Traub arranged for Wells Fargo's Foothill Capital to loan ( here) eToys $40 million in November 2000. Giving additional documentation that it was a deliberate scheme to tank a solvent company, the story ( here) quotes eToys as saying the $40 million dollar Nov 2000 loan would carry it through June 2001.
Goldman Sachs attorney made sure the proof of the intentional taking of a solvent company would never see light of day. The very first piece of Obstruction of Justice was Goldman Sachs attorney failing to disclose the fact that they were Goldman Sachs Delaware counsel (when it applied and was approved by the court to be the eToys Debtor's counsel). Then Goldman Sachs attorney (www.MNAT.com ) compounded that issue of fraud on the court by submitting many false Rule 2014/ 2016 Affidavits for the past 10 years.
This sophisticated criminal effort served to the Destruction of Evidence by Goldman Sachs attorney actually petitioning and receiving the Court's permission to do exactly that ( see Motion to Destroy Books n Records ( here)). An issue further compounded by the unmitigated gall of MNAT actually hand picking the firm to prosecute their client (Goldman Sachs) in the NY Sup Ct case (601805/2002). Knowing we caught them through review of public docket records, the party prosecuting the case of eToys v Goldman Sachs placed nearly 1/2 of the entire docket of the NY Sup Ct case Under SEAL. Then they recently closed the case in a rush to bury the crime into the archives.
What really will make you chuckle, is the mockery of justice that Goldman Sachs attorney did of both the DE Federal Court and NY Supreme Ct. For the party that www.MNAT.com hand picked to prosecute Goldman Sachs was none other than their cohort in crime -- PAUL TRAUB!
Not only did the loan and transactions thereof transpire without review; making it a preferential transaction and subject to Equitable Subordination due to the fact that neither Paul Traub, nor Xroads LLC divulged the fact that they had a relationship with Wells Fargo. Compounding the crimes even further, the transactions exceeded $100 million dollars prior to March 7, 2001 eToys bankruptcy filing. Made morose by the fact that the payments went directly to Wells Fargo (not back to Foothill Capital as required).
Bloomberg points out that such bad faith practices also seem to have transpired with Wells Fargo in the Extended stay case. As is denoted by the story verbatim;
“After stopping that brazen plan, we learned that hedge funds Cerberus and Centerbridge offered Lichtenstein immense protections and inducements to file bankruptcy,” Meister said in an e-mailed statement. “None of these banks or hedge funds is looking to preserve and stabilize the hotel chain as they would have you think.”
The story also remarked;
The original lenders included Charlotte, North Carolina- based Bank of America Corp. and its Merrill Lynch unit and Wachovia Corp., now owned by San Francisco-based Wells Fargo & Co.
Another original lender was Bear Stearns Cos., whose stake was taken over by the Federal Reserve after the investment bank collapsed last year. The U.S. central bank holds “$744 million par amount in various mezzanine classes and $153 million par amount” in commercial-mortgage-backed securities, spokeswoman Deborah Kilroe said in a June 15 e-mail.
Elise Wilkinson, a spokeswoman for Wells Fargo, declined to comment, citing ongoing litigation.
What is also a persistent connection to these parties; are the elements of right wing white collar blood sucking of the middle class and the lack of investigations and/or prosecutions of blatant federal organized criminal activity. A matter made worse, due to the fact that judges and Dept of Justice personnel are betraying their public oaths to defend the Constitution against enemies both foreign and domestic!
As everyone knows, Goldman Sachs made billions of dollars in bonuses for their top executives; when everyone else was getting bailouts. Our series of cases documents the fact conclusively; that the Dept of Justice considers Goldman Sach's criminality an untouchable issue.
Cerberus, is owned by right wing die-hard Steve Feinberg. George Bush's hand pick (John Snow) is the CEO of Cerberus. Donald Rumsfeld is a client of Cerberus.
DailyKos readers & users are already aware of the skullduggery of Cerberus, Dick Cheney and others as can be seen in this previous wonderful Daily Kos Diary by leveymg
"Scandal Emerging from Walter Reed Story, US Attorneys Firing"
J. Ezra Merkin is a partner with Cerberus and he also owns Gabriel fund. It is now known that Gabriel was a feeder fund for Madoff. Dan Quayle also works the eastern European block of Cerberus. Paul Traub's partner (Harold Bonacquist) was listed on the NY Sup Ct and NY State Bar as to be contacted through the US Embassy or Consulate General in the Philippines to make an appointment with them in Istanbul. A neat two step to make it harder to get their files. Fortunately, we do not need any files once we find an honorable public servant within the Dept of Justice; the proof is to profuse, irrefutable and overwhelming within the public docket records.
In our cases, the sophisticated efforts to pervert the federal and state systems of justice go back and forth across state lines clear across the country. Dept of Justice Scott Bloch Office of Special Counsel home and office were raided by the FBI (see Wikipedia documentation ( here)); for the destruction of case files. We cannot tell you if our files were destroyed; but it is a fact no one has called us yet - despite the preponderance of evidence overwhelming and profuse.
Additionally, we have proof irrefutable, that the DE office of the Dept of Justice is failing miserably; by refusing to investigate and/or prosecute the 100 crimes for several billion dollars in fraud of multiple cases. This is in no small due to the fact that the parties involed in the various schemes were shrewd enough to plant one of their own as the DE US Attorney (see Resume of Colm Connolly ( here)). As anyone can plainly see in the resume; Colm Connolly was a partner with the www.MNAT.com law firm in 2001. MNAT has confessed to supplication of false affidavits and perpetration of fraud on the court in 2001. The Dept of Justice has persistently stated there is no case.
Noted within the MSM by the Los Angeles Times; there is a story nationally significant. The Republican US Attorney there received our clocked copy briefs and forms on the public federal corruption and refusals to investigate and prosecute Goldman Sachs and Bain for the many crimes blatant, flagrant and proof undeniable. A federal official helped us make sure that the central CA US Attorney Tom O'Brien understood that others were watching. We were provided an "official" form format from the CA federal courts and instructed by those parties to make sure we had the intake person at the DOJ in Los Angeles - time stamp each and every page.
Instead of doing their fiduciary duty, where we were supposed to receive a case number ( Office of Review and Oversight mandates a case number be assigned to all cases with potential validity - that take more than 1 hour of time to review). To the shame of the Dept of Justice the unthinkable transpired. Once again a public servant spurned his public oath and betrayed the public trust by participating in the schemes to Cover Up and defraud the American people.
CA US Attorney Shuts Down the DOJ Public Corruption Unit
and Threatens career Asst US Attorneys to keep silent!
(please see L A Times story by Scott Glover
"Shake-up roils federal prosecutors".
We need to gather together and petition the Administration to make the correct choice to replace FBI Director Mueller with someone Untouchable. Beyond the issues above is the fact that Paul Traub met Mitt Romney's gang during NeoStar. Since then he assisted Bain in many cases, eToys, Stage Stores, Jumbo Sports, Playco, FAO Schwartz and Kay Bee Toys. Where Bain now owns Toys R Us and the stolen property of eToys. These guys are bad businessmen; but great Pirates. All Goldman Sachs, Cerberus and Bain need do is loan money to any Fortune 500 company, place key persons inside to gather intelligence; then make corrupt deals like Cerberus made with Extended Stay and Paul Traub did with eToys and Polaroid.
If we do not stop this right wing blood sucking of American middle class production; these guys will move to another country (like Costa Rica or Aruba) - that they bought with the trillions of dollars they fleeced by perversions of just and piracy most high! The Republicans are scared ( here) of the Dodd Frank Act and the Progressive effort to halt the white collar fleecing of America. Republican efforts to protect their unjust enrichment includes efforts to amend Dodd Frank ( here). Efforts are also in the works to reduce funding for the SEC and water down Dodd Frank ( here) & ( here).
But even some Republicans are going against the grain; because they see the obvious issue - that things have gotten out of hand and need better authoritative review ( see AP story ( here).
Bain tried to acquire the Los Angeles Times and the Wall Street Journal. Instead dear old Rupert Murdoch made the deal and the reporters who made us promise to give them the exclusive; were ordered to back off on the story. Even so, they did report part of it, getting it backwards and spelling my name wrong (see July 25, 2005 story ( here). Hutchins Wheeler law firm shut their doors and thus files have vanished. Kronish Lieb has shut their doors; where we presume those files have also walked into a hidden realm. Traub Bonacquist & Fox has disbanded, you have to go to Istanbul to get Harold Bonacquist files and the other files were at Marc Dreier's firm and are most likely out the NY channel to the deep blue sea.
Evidence of the fact these guys are involved in Organized Criminal endeavors has become a mountain irrefutable, overwhelming and profuse. Blatant and flagrant defying of the Law is not only systemic; it has become incestuous and is corrupting our federal systems of justice beyond intolderable. It was DE Dist Ct Justice Kent A Jordan (KAJ) who called an urgent telephonic hearing Oct 2006; ordering every counsel to be present. After he warned them he was now believing that there was a dark side of the force present; they simply (immediately) promoted him off the case to the 3rd Cir and then the Dist Ct violated the law dismissing the case illegally by a Magistrate Justice (who is forbidden by Article III Code/Rule of Law - to be involved in federal bankruptcy cases). The very same US Circuit Ct who has also blatantly & flagrantly defied the law. In the 3rd Ciruit case that followed (07-2360); where the Circuit responded to the pleadings with an Opinion stating the FRAP (Federal Rules of Appellate Procedure) do not apply to our case.
Clearly demonstrating how deep the corruption goes, the Dept of Justice rogue personnel include the General Counsel of the Wash DC EOUST office; which stated a promise surreptitious in their brief ( here) by the very 1st footnote that the Dept of Justice US Trustee did not and Will not address www.MNAT.com issues. As if they had to provide proof to the almighty Circuit kings they were in compliance with duplicity completely.
Remember, MNAT (in the eToys case) is secretly acting as eToys Debtor counsel; whilst also illegally benefiting Goldman Sachs as their counsel. For those layman like us, the real important thing is; a great portion of the Bankruptcy Code & Rules prohibits Investment Bankers from failures to disclose. Bush's Administration tried to fix this with BAPCPA; sneaking in a repeal of the issue on that bill. Does not stop the fact that Goldman Sachs and MNAT committed the crimes of Collusion and Conspiracy to Defraud; nor did the Bankruptcy Abuse Prevention Act change the SEC laws applicable and massively defiled by Goldman Sachs and Bain in the cases.
Please see the brief's footnote on page 9 of the PDF (page 2 of the actual pleading);
" -- Appellee Morris Nichols Arsht & Tunnell ("MNAT") in connection with Mr. Alber's January 25, 2005 motion alleging conflicts of interest by MNAT, and approved a settlement between the post-effective date committee of unsecured creditors and Goldman Sachs & Co . The United States Trustee did not assert a position in the bankruptcy court or the district court appeal regarding those two matters and does not address them herein"
It was Bush's US Attorney (Colm Connolly) who also betrayed his oath to protect the Constitution and harmed the American public with his sedition; when he buried the case from investigation without revealing his relationship as a partner with the MNAT law firm (again see Connolly's resume ( here)). Quite possibly, the failure to refer the case to the Public Integrity Section or appoint an independent prosecutor is a much more serious crime; because US Attorney Colm Connolly was a partner in 2001. This is the very year the crimes transpired and he could have possibly worked on the case; or for Goldman Sachs and/or Bain. Making his subterfuge much more nefarious, egregious and heinous.
Compounding the duplicity of Bush's Administration even further; was another US Attorney's egregiously shutting down the DOJ Public Corruption Unit and Threats against career Assistant US Attorney's to keep their mouths shut as to the reasons why; or he would disparage and punish them (again the LA Times story ( here)).
Cerberus benefited beyond any doubt, from the $700 Billion dollar bailout of Chrysler and GMAC. We have not yet begun to dig into their vast amount of cases; yet it is already readily apparent by the Extended Stay case that the Paul Traub method of double dealing and utilizing bankruptcy federal powers to benefit the blood sucking right wing works.
Mitt Romney lied to the American public when he said he was only worth $250 million dollars. We sent proof to the Post and WSJ about his off shore accounts such as SanKaty. Romney is the sole owner of SanKaty; which has more than $1 billion in worth. That is why he changed the Presidential Campaign Finance form to his own custom version. Romney said his money was in a blind family trust since 2003 and he really did not know how much he was worth!
If you believe that - then you will most likely believe the central CA US Attorney's and former AG Mukasey's comment that the reason they shut down the DOJ Public Corruption Unit; was to make the Dept of Justice more efficient because
They cannot find any public corruption cases to prosecute!
Furthermore, we have consummate proof that the corruption of the federal system of justice and the willful blindness pertaining to Paul Traub has fostered Organized Crimes to continue. Traub's new partner (Marc Dreier) was running around committing crimes with reckless abandon. He even went to Canada and pretending to be someone else to get another $50 million for his schemes (see Dreier's history at Wiki ( here)). As well as Paul Traub's decade long partner Tom Petters getting 50 years for over $40 billion in fraud (see Wiki history of Petters ( here)).
The willful blindness by the federal system of justice in the Petters case is extensively egregious and greatly inexplicable. Larry Reynolds plead guilty and testified against Petters. He admitted that his transactions alone, exceeded $12 billion dollars. What is alarming and shocking, Larry Reynolds was in the Witness Protection Program and being investigated by the IRS; while he laundered these billions through NV (see Larry Reynolds history ( here)).
Finally, the crimes continue to this day. In the current Galleon trial, a Bain/Ropes & Gray attorney has already plead guilty, Goldman Sachs parties (former) are involved and a Republican Fund Raiser is in the news for his very own Ponzi Scheme ( see NY Times story ( here)).
But Paul Traub continues to keep the keys to the related cases he is fleecing. There are no investigations and/or prosecutions; despite his confessions to Intentional Fraud on the Court vis-a-vis more than 17 acts of Perjury. Traub and gang have simply adapted to the fact that this indigent but tenancious adversary continues to find and point out their false affidavits and breaking of federal laws with non-disclosures of conflicts of interest. So they simply disclose (half heartedly) all they can and have corrupt judges/US Trustee's continue to support their organized criminal efforts. All his partners being arrested and in Prison - what do you think Paul Traub's punishment was;
He now owns Polaroid (Petters company),
as well as Fingerhut, UBid and RedTag (that Doug Kelley is silent on).
This case also involves the protectionism by Karl Rove and Jack Abramoff trying to deal himself into the game by seizing control of the Region 3 US Trustee's office. One federal agent sent us the link to show Abramoff's email and Karl Rove mentions; but the powers that be yanked it down from the Congressional website ( here). Fortunately for us, it was then found "archived" at federal archives ( see page 12 of the pdf emails ( here)).
We are sure that President Obama and AG Holder have no idea that these cases are being swept under the rug. There are no logical reasons on G-d's green earth why they would help a corrupt right wing blood sucking machine to thrive and prosper.
Please take heed and remember the lessons of how we became America was a
United revolt against tyranny & corruption!
We must stand up and fight for our American way of Life; -- Or let it Go!