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. Censorship on Reddit Has Gotten (Condé) Nasty and Silent, Even Actively Silenced

    Condé Nast has turned Reddit into a platform of censorship after the acquisition



  2. The Supreme Court of the United States Helps Patent Trolls

    In an unforeseen kind of ruling, the same court which slapped down a lot of software patents last year is now legitimising the actions of a patent troll



  3. Patent Lawyers Fight Hard for the Future of Software Patents

    Media that is dominated by patent lawyers and targets an audience of patent lawyers refuses to accept the post-Alice reality



  4. Fortune Glorifies Patent Troll Jay Walker (Patent Utility)

    Jay Walker, a patent troll, creates a Web-based trolling/'licensing' service and the corporate media helps him



  5. Stealing Android's Thunder, Making It All About Apple and Microsoft During Google I/O

    Misleading articles and conjoined media/analyst attacks on Android coincide with Google's event where major Android announcements are being made



  6. British Government May be a Step Closer to GNU/Linux (on the Desktops, Not Just Servers)

    The British government stops paying the criminal company that blackmails its members, thereby increasing the possibility of complete escape from proprietary software



  7. Microsoft's Patent Allies LG and Sony Agree to Put Microsoft Inside Android

    LG and Sony (of Rockstar Consortium) follow Samsung and Dell in Microsoft's campaign to turn Android into 'Microsoft Android' using patents-induced pressure/leverage



  8. Yet Another Major Security Deficiency in UEFI

    UEFI is inherently insecure, more so than the alternatives which it strives to replace, including Free/libre ones



  9. Links 27/5/2015: Fedora 22 is Out, Mandriva Liquidated

    Links for the day



  10. Patent Scope at the EPO is Totally Out of Control, UPC Will Make Things Worse

    A look at the practical issues with the EPO, where patent scope and litigation scope have been vastly extended so as to benefit multinational corporations and possibly patent trolls



  11. Links 26/5/2015: Reviews of Kubuntu 15.04, Linux 4.1 RC5

    Links for the day



  12. Süddeutsche Zeitung Says Talking Helps While EPO Management Back-stabs Other Side of the Table

    German media gives the impression that there is peace and harmony now that Benoît Battistelli and his circle of power speaks to staff, but nothing is said about simultaneous (albeit covert) attacks against that staff



  13. Large Corporations Call the Shots in US Patent Reform

    A reminder of where we stand on the issue of patent 'reform' in the US and who is controlling or shaping it



  14. Microsoft Puts Proprietary Windows and Hyper-V Inside the Free Software-Centric OpenStack

    OpenStack, which celebrates rapid growth in this month's event in Canada, is facing a proprietarisation threat from Microsoft



  15. Microsoft's Secret Lobbying, Bullying, and the Long History of Blackmailing Politicians Around the World

    British media covers Microsoft's abuse in the UK, but there are many similar incidents, and not just in the UK



  16. Frankfurter Allgemeine Zeitung on Benoît Battistelli and Four EPO Suicides

    German press article from April 2015 (with translations)



  17. Links 24/5/2015: CrossOver 14.1.3, NTFS-3G Vulnerability

    Links for the day



  18. Links 23/5/2015: Fedora 22 to May 26th, Netflix in SteamOS

    Links for the day



  19. The Patents Production 'Industry' (Patent Lawyers) Still Fights Hard to Salvage Software Patents

    A review of recent writings about software patents and patents on business methods in the United States, demonstrating that patent lawyers have gotten very vocal and sneaky (trying to evade the rules)



  20. Patents as a Marketing Strategy: USPTO Now Part of the Advertising Industry

    The existence of publicity patents, or patents whose sole purpose is to advertise some products, serves to discredit the US patent office, which was originally set up to promote science and technology



  21. Microsoft Blackmails and Extorts British Politicians Over Open Standards and Free Software-Leaning Policies

    Microsoft's digital imperialism in the UK getting defended using blackmail, reminding a lot of Brits that Microsoft is just as evil as ever before



  22. Microsoft Gives Another Bug a Name, This Time Logjam™

    The Microsoft crowd is good only at marketing, even when it comes to small bugs in software



  23. Links 22/5/2015: Fedora 22 Final Release is Near, Canonical IPO Considered

    Links for the day



  24. More Utter Shame Unveiled at Battistelli's EPO: Intimidation Tactics With Help From 'Control Risks'

    The unaccountable thugs who run the EPO have hired London-based spooks to help silence their opposition and their critics



  25. GNU/Linux Still Under Attack From Apple and Microsoft, Patents Remain the Weapon of Choice

    A timely reminder of the importance of patent matters, for they are being used to eliminate the zero-cost advantage of Free/libre software and make it more proprietary, privacy-infringing, and user-hostile (as a result of blackmail)



  26. Gartner Group and NASSCOM: Will Lie for FUD, on Behalf of Microsoft and Proprietary Software

    Some of the latest arguments against Free/libre software turn out to be arriving from couriers of Microsoft and its agenda



  27. Windows is a Franchise in Demise, Don't Believe the Hype

    Ongoing propaganda about Vista 10, 'cloud', and other buzzwords or brands are put in perspective



  28. Links 21/5/2015: Fedora 22 RC2, CERN Chooses OpenStack

    Links for the day



  29. Microsoft is Again Showing Its Hatred of Free/Open Source Software by Lobbying the Indian Government to Drop a Rational National Policy

    Microsoft decides to attack Free/Open Source software (FOSS) in India, where the corporate media is very much complicit in misleading the public



  30. Links 20/5/2015: Containers, OpenStack, and EXT4 Corruption

    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