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. Links 19/2/2018: Linux 4.16 RC2, Nintendo Switch Now Full-fledged GNU/Linux

    Links for the day



  2. PTAB Continues to Invalidate a Lot of Software Patents and to Stop Patent Examiners From Issuing Them

    Erasure of software patents by the Patent Trial and Appeal Board (PTAB) carries on unabated in spite of attempts to cause controversy and disdain towards PTAB



  3. The Patent 'Industry' Likes to Mention Berkheimer and Aatrix to Give the Mere Impression of Section 101/Alice Weakness

    Contrary to what patent maximalists keep saying about Berkheimer and Aatrix (two decisions of the Federal Circuit from earlier this month, both dealing with Alice-type challenges), neither actually changed anything in any substantial way



  4. Makan Delrahim is Wrong; Patents Are a Major Antitrust Problem, Sometimes Disguised Using Trolls Somewhere Like the Eastern District of Texas

    Debates and open disagreements over the stance of the lobbyist who is the current United States Assistant Attorney General for the Antitrust Division



  5. Patent Trolls Watch: Microsoft-Connected Intellectual Ventures, Finjan, and Rumour of Technicolor-InterDigital Buyout

    Connections between various patent trolls and some patent troll statistics which have been circulated lately



  6. Software Patents Trickle in After § 101/Alice, But Courts Would Not Honour Them Anyway

    The dawn of § 101/Alice, which in principle eliminates almost every software patent, means that applicants find themselves having to utilise loopholes to fool examiners, but that's unlikely to impress judges (if they ever come to assessing these patents)



  7. In Aatrix v Green Shades the Court is Not Tolerating Software Patents But Merely Inquires/Wonders Whether the Patents at Hand Are Abstract

    Aatrix alleges patent infringement by Green Shades, but whether the patents at hand are abstract or not remains to be seen; this is not what patent maximalists claim it to be ("A Valentine for Software Patent Owners" or "valentine for patentee")



  8. An Indoctrinated Minority is Maintaining the Illusion That Patent Policy is to Blame for All or Most Problems of the United States

    The zealots who want to patent everything under the Sun and sue everyone under the Sun blame nations in the east (where the Sun rises) for all their misfortunes; this has reached somewhat ludicrous levels



  9. Berkheimer Decision is Still Being Spun by the Anti-Section 101/Alice Lobby

    12 days after Berkheimer v HP Inc. the patent maximalists continue to paint this decision as a game changer with regards to patent scope; the reality, however, is that this decision will soon be forgotten about and will have no substantial effect on either PTAB or Alice (because it's about neither of these)



  10. Academic Patent Immunity is Laughable and Academics Are Influenced by Corporate Money (for Steering Patent Agenda)

    Universities appear to have become battlegrounds in the war between practicing entities and a bunch of parasites who make a living out of litigation and patent bubbles



  11. UPC Optimism Languishes Even Among Paid UPC Propagandists Such as IAM

    Even voices which are attempting to give UPC momentum that it clearly lacks admit that things aren't looking well; the UK is not ratifying and Germany make take years to look into constitutional barriers



  12. Bejin Bieneman Props Up the Disgraced Randall Rader for Litigation Agenda

    Randall Rader keeps hanging out with the litigation 'industry' -- the very same 'industry' which he served in a closeted fashion when he was Chief Judge of the Federal Circuit (and vocal proponent of software patents, patent trolls and so on)



  13. With Stambler v Mastercard, Patent Maximalists Are Hoping to Prop Up Software Patents and Damage PTAB

    The patent 'industry' is hoping to persuade the highest US court to weaken the Patent Trial and Appeal Board (PTAB), for PTAB is making patent lawsuits a lot harder and raises the threshold for patent eligibility



  14. Apple Discovers That Its Patent Disputes Are a Losing Battle Which Only Lawyers Win (Profit From)

    By pouring a lot of money and energy into the 'litigation card' Apple lost focus and it's also losing some key cases, as its patents are simply not strong enough



  15. The Patent Microcosm Takes Berkheimer v HP Out of Context to Pretend PTAB Disregards Fact-Finding Process

    In view or in light of a recent decision (excerpt above), patent maximalists who are afraid of the Patent Trial and Appeal Board (PTAB) try to paint it as inherently unjust and uncaring for facts



  16. Microsoft Has Left RPX, But RPX Now Pays a Microsoft Patent Troll, Intellectual Ventures

    The patent/litigation arms race keeps getting a little more complicated, as the 'arms' are being passed around to new and old entities that do nothing but shake-downs



  17. UPC Has Done Nothing for Europe Except Destruction of the EPO and Imminent Layoffs Due to Lack of Applications and Lowered Value of European Patents

    The Unified Patent Court (UPC) is merely a distant dream or a fantasy for litigators; to everyone else the UPC lobby has done nothing but damage, including potentially irreparable damage to the European Patent Office, which is declining very sharply



  18. Links 17/2/2018: Mesa 17.3.4, Wine 3.2, Go 1.10

    Links for the day



  19. Patent Trolls Are Thwarted by Judges, But Patent Lawyers View Them as a 'Business' Opportunity

    Patent lawyers are salivating over the idea that trolls may be coming to their state/s; owing to courts and the Patent Trial and Appeal Board (PTAB) other trolls' software patents get invalidated



  20. Microsoft's Patent Moves: Dominion Harbor, Intellectual Ventures, Intellectual Discovery, NEC and Uber

    A look at some of the latest moves and twists, as patents change hands and there are still signs of Microsoft's 'hidden hand'



  21. Links 15/2/2018: GNOME 3.28 Beta, Rust 1.24

    Links for the day



  22. Bavarian State Parliament Has Upcoming Debate About Issues Which Can Thwart UPC for Good

    An upcoming debate about Battistelli's attacks on the EPO Boards of Appeal will open an old can of worms, which serves to show why UPC is a non-starter



  23. The EPO is Being Destroyed and There's Nothing Left to Replace It Except National Patent Offices

    It looks like Battistelli is setting up the European Patent Office (EPO) for mass layoffs; in fact, it looks as though he is so certain that the UPC will materialise that he obsesses over "validation" for mass litigation worldwide, departing from a "model office" that used to lead the world in terms of patent quality and workers' welfare/conditions



  24. IBM is Getting Desperate and Now Suing Microsoft Over Lost Staff, Not Just Suing Everyone Using Patents

    IBM's policy when it comes to patents, not to mention its alignment with patent extremists, gives room for thought if not deep concern; the company rapidly becomes more and more like a troll



  25. In Microsoft's Lawsuit Against Corel the Only Winner is the Lawyers

    The outcome of the old Microsoft v Corel lawsuit reaffirms a trend; companies with deep pockets harass their competitors, knowing that the legal bills are more cumbersome to the defendants; there's a similar example today in Cisco v Arista Networks



  26. The Latest Lies About Unitary Patent (UPC) and the EPO

    Lobbying defies facts; we are once again seeing some easily-debunked talking points from those who stand to benefit from the UPC and mass litigation



  27. Speech Deficit and No Freedom of Association at the EPO

    True information cannot be disseminated at the EPO and justice too is beyond elusive; this poses a threat to the EPO's future, not only to its already-damaged reputation



  28. No, Britain is Not Ratifying 'Unitary' Anything, But Team UPC Insinuates It Will (Desperate Effort to Affect Tomorrow's Outcome)

    Contrary to several misleading headlines from Bristows (in its blog and others'), the UPC isn't happening and isn't coming to the UK; it all amounts to lobbying (by setting false expectations)



  29. The EPO's Paid Promotion of Software Patents Gets Patent Maximalists All Excited and Emboldened

    The software patents advocacy from Battistelli (and his cohorts) isn't just a spit in the face of European Parliament but also the EPC; but patent scope seems to no longer exist or matter under his watch, as all he cares about is granting as many patents as possible, irrespective of real quality/legitimacy/merit



  30. Andrei Iancu Begins His USPTO Career While Former USPTO Director (and Now Paid Lobbyist) Keeps Meddling in Office Affairs

    The USPTO, which is supposed to be a government branch (loosely speaking) is being lobbied by former officials, who are now being paid by private corporations to help influence and shape policies; this damages the image of the Office and harms its independence from corporate influence


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