EditorsAbout the SiteComes vs. MicrosoftUsing This Web SiteSite ArchivesCredibility IndexOOXMLOpenDocumentPatentsNovellNews DigestSite NewsRSS

07.23.10

Links 23/7/2010: Bank Fraud in Retrospect, Wikileaks Hunt

Posted in News Roundup at 3:35 pm by Dr. Roy Schestowitz

Leftovers

  • The background to the Gray and Hilton libel case

    At about 2pm this afternoon the High Court will rule on whether the libel claim against Labour bloggers John Gray and Alex Hilton can be struck out for abuse of process.

    My friend Robert Dougans, who of course acted for Simon Singh, is formally representing Alex Hilton, and I am in turn one of the lawyers helping Robert Dougans.

  • Finance

    • Goldman Sachs Can’t Say It Dodged This F-Bomb: Jonathan Weil

      While the Securities and Exchange Commission’s fraud lawsuit against Goldman Sachs may be over, the myths about what’s contained in the settlement agreement seem to have taken on a life of their own.

      There’s been so much misinformation floating around on this subject that it’s time to set the record straight. Contrary to many reports over the past week, the SEC didn’t back off any of its fraud allegations. Nor will Goldman be allowed to deny the SEC’s harshest accusations. Yet over and over, articles and analyst reports keep popping up asserting otherwise.

    • Did Goldman Sachs Get Off Easy? NYT Editorial

      Next is the more disturbing question: Did the S.E.C. let Goldman off too easy? As has been widely noted, the $550 million settlement, which has been approved by a federal judge, is chump change compared with Goldman’s bonus pool, and less even than Goldman’s depressed second-quarter profits.

    • Goldman to sell benchmark-size 5-year notes – IFR

      Benchmark offerings are typically at least $500 million in size. No timing was given for the deal.

    • Goldman Sachs reaches $60 million securities settlement with Missouri

      The investment firm of Goldman Sachs will repurchase up to $60 million in auction rate securities from Missouri investors who were caught up in the market meltdown in early 2008.

      The settlement was announced Wednesday by Missouri Secretary of State Robin Carnahan. This marks the 15th auction rate settlement in Missouri leading to the reimbursement of more than $1.5 billion for investors.

    • Morgan Stanley’s Pay Set-Aside Climbs as Goldman Sachs’s Falls

      Morgan Stanley, buoyed by rising revenue, set aside 37 percent more money to pay employees in the first half of 2010 even as rivals Goldman Sachs Group Inc. and JPMorgan Chase & Co.’s investment bank lowered their compensation expenses.

    • Pay Czar to Cite Goldman, JPMorgan, Citi: Report

      Goldman Sachs Group Inc, JPMorgan Chase & Co and Citigroup Inc are among those Obama administration pay czar Kenneth Feinberg will cite for having made “ill-advised” payments, the Wall Street Journal reported on its web site on Thursday.

    • Goldman Sachs Spends 40 Percent More On Lobbying In Second Quarter

      As Goldman Sachs faced arguably one of its most challenging quarter in decades — on several fronts, from SEC charges and lagging profits to financial regulatory reform and renewed scrutiny of all its activities — the firm increased its spending on lobbying by almost 40% in the second quarter of 2010 and has already spent almost as much in the first half of this year as it did in all of 2009.

      In its most recent lobbying report filed last night, Goldman spent $1.58 million to influence Congress and the White House on a host of issues including Wall Street reform — specifically derivatives regulation, bank tax and financial risk management — the much-debated unemployment benefits extension, municipal finance, small business funding, climate change legislation and transportation funding.

    • Who Really Won in Goldman Sachs’ Settlement With the SEC?
    • Daniel Dravot, Goldman Sachs, and the SEC

      Goldman is not a mere mortal king but has been viewed in some circles as a god on Wall Street. Unfortunately, when Goldman kissed Paulson, the latter bit and the former bled; and now Goldman is astride the rope bridge, bejeweled and crowned but imperiled as the SEC hacks away.

    • Goldman’s Go-Round

      When Goldman Sachs released its first-quarter results in April, its strong profits were overshadowed by news of a lawsuit from the Securities and Exchange Commission accusing the firm of fraud in a sale of mortgage-related securities. When it released its second-quarter results on Tuesday, its plunging profits — down 82 percent from the same period a year earlier — overshadowed the $550 million it paid to settle the S.E.C. case last week.

    • Federal Report Faults Banks on Huge Bonuses

      With the financial system on the verge of collapse in late 2008, a group of troubled banks doled out more than $2 billion in bonuses and other payments to their highest earners. Now, the federal authority on banker pay says that nearly 80 percent of that sum was unmerited.

    • Goldman Sachs Said to Give AIG-Hedging List to Investigators

      The list was sought by panels reviewing the beneficiaries of New York-based AIG’s $182.3 billion government bailout, said the people, who declined to be identified because the information is private. Goldman Sachs, which received $12.9 billion after the 2008 rescue tied to contracts with the insurer, has said it didn’t need AIG to be rescued because it was hedged against the firm’s failure.

    • SEC Inspector General Expands Probe to Include Goldman Sachs Settlement

      The U.S. Securities and Exchange Commission’s internal watchdog said he will expand his probe into whether politics drove an agency lawsuit against Goldman Sachs Group Inc. to include the timing behind a $550 million settlement with the company.

    • Pimco Hires Goldman Sachs’s Gordon in Emerging Stocks

      Pacific Investment Management Co., the bond-fund firm that last year began a push into equities, hired Maria Gordon from Goldman Sachs Group Inc.’s asset- management unit to start an emerging-market stocks group.

      Gordon was head of the emerging-markets equity team at Goldman Sachs Asset Management in London, where she oversaw about $8 billion in assets, the Newport Beach, California-based firm said in a statement. Gordon, who plans to join in October, will eventually run a group of four to six people and will be based in London.

    • Fairfield, Madoff, Goldman, BP, UBS in Court News

      Fairfield Greenwich Group co-founder Walter Noel was sued by the trustee overseeing the liquidation of Bernard Madoff’s firm as part of an amended lawsuit that names 43 new defendants.

      Noel and the other defendants worked with Madoff and his firm “to commit, and exponentially expand, the single largest financial fraud in history,” trustee Irving Picard said in the complaint filed yesterday in U.S. Bankruptcy Court in Manhattan. “Every dollar the defendants purportedly ‘earned,’ and every dollar they kept to unjustly enrich themselves, was stolen money.”

    • Goldman Sachs Resort & Casino

      Goldman Sachs is proud to announce a consumer-enriching expansion from the hallowed halls of Wall Street to the glittering neon of Las Vegas. In addition to continuing our world-class wealth-friendly Private Wealth Management and Personal Banking services; our internationally-recognized client-focused Global Investment Research services; our award-winning, growth-facilitating Debt Financing teams, we are excited to unveil plans for the globally diversified, entertainment-enhanced, Goldman Sachs Lounge & Casino, perfect for both the high roller, and the high-net-worth individual, financial institution, corporation and/or government.

    • The Food Bubble: How Wall Street Starved Millions and Got Away With It

      While Goldman Sachs agreed to pay $550 million to resolve a civil fraud lawsuit filed by the SEC, Goldman has not been held accountable for many of its other questionable investment practices. A new article in Harper’s Magazine examines the role Goldman played in the food crisis of 2008 when the ranks of the world’s hungry increased by 250 million. We speak to Harper’s contributing editor Frederick Kaufman.

  • Censorship/Privacy/Civil Rights

    • Assange No-Show at Hacker Conference

      Wikileaks founder Julian Assange was a no-show at the annual New York City hacker conference HOPE, after five Homeland Security agents turned up the day before he scheduled to speak.

      After an army intelligence analyst blew the whistle and leaked 150,000 State Department classified diplomatic cables and an aerial attack video to Wikileaks, conference organizers warned in June that Assange, a scheduled keynote speaker, might not turn up if hew wanted to avoid detention.

    • Top earning Tory: ban protests to save money

      In the past controversial plays have had to be shut down because the police did not want to bear the costs of policing the protests.

      With Boris increasingly displaying authoritarianism – banning Democracy village and threatening motorcycle protesters – it looks increasingly like the Tories aren’t as enthusiastic about civil liberties as they’ve claimed.

    • Comment: Labour must repent on civil liberties

      The term ‘progressive’ is a pernicious and treacherous thing. It is not a belief system. It doesn’t denote a series of beliefs or policies. It is a sentiment, a vague allusion. It translates as ‘leftish’. Its political usefulness lies in this absence of meaning, allowing right-wingers to attract moderates without actually committing to any specific proposals.

  • Net Neutrality

    • No need for net neutrality action, says UK regulator

      SNIPPET: While US telcos, politicians, user rights activists and big media companies have spent the past three years wrangling, tussling, lobbying and shouting about net neutrality, the issue has never caused much trouble elsewhere.

  • Intellectual Monopolies

    • P2PU Call for Courses

      The Peer 2 Peer University is gearing up to launch its third cycle of courses this coming September, and we’re looking for new faces to join the community. Do you have an idea for a six week course? Whether it’s Physics 101 or Poker and Strategic Thinking, all ideas are welcome. You can propose a course at http://wiki.p2pu.org/Create-a-Course (deadline is August 6, 2010).

    • Copyrights

      • Barry Sookman Works For The Canadian Recording Industry Association

        For the last six months I’ve been calling on Barry Sookman to disclose who he was working for. Barry claims that his blog is his personal thoughts. I claim that everyone is affected by their friends and relatives, their work, and other contacts, and that therefore his employer has an affect on his blog, and must be disclosed.

        Barry has avoided the issue. He knows that I know who he is working for. He knows that if I can get him to publicly state who he is working for, I can do damage to his cause, and therefore his best option was to say nothing (which is an oddity in it’s own right – Barry is ever more verbose than I am), while I continue to pretend that I don’t know who he’s working for, and that I can’t find out who he’s working for.

        But the cat is now out of the bag. A comment was made on the blog, and I decided to let it stand. Barry Sookman works for the Canadian Recording Industry Association.

Share this post: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Reddit
  • co.mments
  • DZone
  • email
  • Google Bookmarks
  • LinkedIn
  • NewsVine
  • Print
  • Technorati
  • TwitThis
  • Facebook

If you liked this post, consider subscribing to the RSS feed or join us now at the IRC channels.

Pages that cross-reference this one

What Else is New


  1. USPTO and EPO Both Slammed for Abandoning Patent Quality and Violating the Law/Caselaw in Order to Grant Illegitimate Patents on Life/Nature and Mathematics

    Mr. Iancu, the ‘American Battistelli’ (appointed owing to nepotism), mirrors the ‘Battistelli operandi’, which boils down to treating judges like they’re stooges and justices like an ignorable nuisance — all this in the name of litigation profits, which necessitate constant wars over illegitimate patents (it is expensive to prove their illegitimacy)



  2. IRC Proceedings: January 27th, 2019 – March 24th, 2019

    Many IRC logs



  3. IRC Proceedings: December 2nd, 2018 – January 26th, 2019

    Many IRC logs



  4. Links 21/4/2019: SuperTuxKart's 1.0 Release, Sam Hartman Is Debian’s Newest Project Leader (DPL)

    Links for the day



  5. The EPO's Use of Phrases Like “High-Quality Patent Services” Means They Know High-Quality European Patents Are 'Bygones'

    The EPO does a really poor job hiding the fact that its last remaining objective is to grant as many European Patents as possible (and as fast as possible), conveniently conflating quality with pace



  6. A Reader's Suggestion: Directions for Techrights

    Guest post by figosdev



  7. Links 20/4/2019: Weblate 3.6 and Pop!_OS 19.04

    Links for the day



  8. The Likes of Chartered Institute of Patent Attorneys (CIPA), Team Campinos and Team UPC Don't Represent Europe But Hurt Europe

    The abject disinterest in patent quality and patent validity (as judged by courts) threatens Europe but not to the detriment of those who are in the 'business' of suing and printing lots of worthless patents



  9. The Linux Foundation Needs to Change Course Before GNU/Linux (as a Free Operating System) is Dead

    The issues associated with the Linux Foundation are not entirely new; but Linux now incorporates so many restrictions and contains so many binary blobs that one begins to wonder what "Linux" even means



  10. Largest Patent Offices Try to Leave Courts in a State of Disarray to Enable the Granting of Fake Patents in the US and Europe

    Like a monarchy that effectively runs all branches of government the management of the EPO is trying to work around the judiciary; the same is increasingly happening (or at least attempted) in the United States



  11. Links 19/4/2019: PyPy 7.1.1, LabPlot 2.6, Kipi Plugins 5.9.1 Released

    Links for the day



  12. Links 18/4/2019: Ubuntu and Derivatives Have Releases, digiKam 6.1.0, OpenSSH 8.0 and LibreOffice 6.2.3

    Links for the day



  13. Freedom is Not a Business and Those Who Make 'Business' by Giving it Away Deserve Naming

    Free software is being parceled and sold to private monopolisers; those who facilitate the process enrich themselves and pose a growing threat to freedom in general — a subject we intend to tackle in the near future



  14. Concluding the Linux Foundation (LF) “Putting the CON in Conference!” (Part 3)

    Conferences constructed or put together based on payments rather than merit pose a risk to the freedom of free software; we conclude our series about events set up by the largest of culprits, which profits from this erosion of freedom



  15. “Mention the War” (of Microsoft Against GNU/Linux)

    The GNU/Linux desktop (or laptops) seems to be languishing or deteriorating, making way for proprietary takeover in the form of Vista 10 and Chrome OS and “web apps” (surveillance); nobody seems too bothered — certainly not the Linux Foundation — by the fact that GNU/Linux itself is being relegated or demoted to a mere “app” on these surveillance platforms (WSL, Croûton and so on)



  16. The European Patent Office Does Not Care About the Law, Today's Management Constantly Attempts to Bypass the Law

    Many EPs (European Patents) are actually "IPs" (invalid patents); the EPO doesn't seem to care and it is again paying for corrupt scholars to toe the party line



  17. The US Supreme Court (SCOTUS) Once Again Pours Cold Water on Patent Maximalists

    Any hopes of a rebound or turnaround have just been shattered because a bizarre attack on the appeal process (misusing tribal immunity) fell on deaf ears and software patents definitely don't interest the highest court, which already deemed them invalid half a decade ago



  18. Links 17/4/2019: Qt 5.12.3 Released, Ola Bini Arrested (Political Stunts)

    Links for the day



  19. Links 16/4/2019: CentOS Turns 15, Qt Creator 4.9.0 Released

    Links for the day



  20. GNU/Linux is Being Eaten Alive by Large Corporations With Their Agenda

    A sort of corporate takeover, or moneyed interests at the expense of our freedom, can be seen as a 'soft coup' whose eventual outcome would involve all or most servers in 'the cloud' (surveillance with patent tax as part of the rental fees) and almost no laptops/desktops which aren't remotely controlled (and limit what's run on them, using something like UEFI 'secure boot')



  21. Reader's Claim That Rules Similar to the Code of Conduct (CoC) Were 'Imposed' on LibrePlanet and the FSF

    Restrictions on speech are said to have been spread and reached some of the most liberal circles, according to a credible veteran who opposes illiberal censorship



  22. Corporate Media Will Never Cover the EPO's Violations of the Law With Respect to Patent Scope

    The greed-driven gold rush for patents has resulted in a large pool of European Patents that have no legitimacy and are nowadays associated with low legal certainty; the media isn't interested in covering such a monumental disaster that poses a threat to the whole of Europe



  23. A Linux Foundation Run by People Who Reject Linux is Like a Children's Charity Whose Management Dislikes Children

    We remain concerned about the lack of commitment that the Linux Foundation has for Linux; much of the Linux Foundation's Board, for example, comes from hostile companies



  24. Links 15/4/2019: Linux 5.1 RC5 and SolydXK Reviewed

    Links for the day



  25. Links 14/4/2019: Blender 2.80 Release Plan and Ducktype 1.0

    Links for the day



  26. 'Poor' (Multi-Millionaire) Novell CEO, Who Colluded With Steve Ballmer Against GNU/Linux, is Trying to Censor Techrights

    Novell’s last CEO, a former IBMer who just like IBM decided to leverage software patents against the competition (threatening loads of companies using "platoons of patent lawyers"), has decided that siccing lawyers at us would be a good idea



  27. Guest Post: The Linux Foundation (LF) is “Putting the CON in Conference!” (Part 2)

    Calls for papers (CfP) and who gets to assess what's presented or what's not presented is a lesser-explored aspect, especially in this age when large corporate sponsors get to indirectly run entire 'community' events



  28. Patent Maximalists Are Enabling Injustices and Frauds

    It's time to come to grips with the simple fact that extreme patent lenience causes society to suffer and is mostly beneficial to bad actors; for the patent profession to maintain a level of credibility and legitimacy it must reject the deplorable, condemnable zealots



  29. Further Decreasing Focus on Software Patents in the United States as They Barely Exist in Valid Form Anymore

    No headway made after almost 4 months of Iancu-led stunts; software patents remain largely dead and buried, so we’re moving on to other topics



  30. Links 13/4/2019: Wine 4.6 and Emacs 26.2 Released

    Links for the day


CoPilotCo

RSS 64x64RSS Feed: subscribe to the RSS feed for regular updates

Home iconSite Wiki: You can improve this site by helping the extension of the site's content

Home iconSite Home: Background about the site and some key features in the front page

Chat iconIRC Channel: Come and chat with us in real time

CoPilotCo

Recent Posts