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Who is Marc Mezvinsky? Chelsea Clinton's Husband is Invesment Banker at Hedge Fund
Bridegroom's Father is Ex-Congressman & Convicted Felon
Hedge funds as they are now constituted were illegal from 1933 to 2000, as their type of activity was outlawed as it was considered as destabilizing speculation that helped cause the Great Depression. In the year 2000, her papa bear Bill Clinton turned his back on 67 years of proven financial regulation and signed a bill legitimating speculation. Mama bear Hillary was running for the U.S. Senate in the State of New York, Moloch's Big Town, and needed the big bucks from the free-booting financiers.
Baby bear Chelsea is doing very nicely as one of the parasitical class that has turned the United States into an economic and financial casino. A "casino" economy and stock market is a state of affairs which economists considered to be the antithesis of a well-managed economy well into the 1990s, when the hustlers took over and began to brazenly rule the roost.
The Soul of the Democratic Party Sold
Hedge funds have been major financial backers of Democratic candidates ever since Bill Clinton made like Abe Lincoln, the Great Emancipator, and set them free. Chelsea's mother Hillary received mucho hedge fund loot during her 2008 bid for the Democratic Presidential nomination. Hedge fund managers hedge their bets, and they also heavily backed Barack Obama, who rewarded them with a watered down "financial reform" bill that left hedge funds unmolested and hedge fund mangers' incomes taxed at the lower capital gains tax rate.
Former Goldman Sachs trading desk honcho Rahm Emmanul is President Obama's chief of staff, whilst his recent Supreme Court nominee, Elena Kagan, worked as a paid "adviser" to the financial power house. Goldman Sachs is what J.P. Morgan and the House of Morgan and Paul Mellon and the Mellon Bank were to Republican Administrations in previous years, the marionette master who pulls the strings.
As predicted by naysayers, within seven years of Clinton legitimating financial speculation, hedge funds and other speculative financial schemes helped bring the U.S. economy back on its knees in the worse political catastrophe since the Great Depression.
http://en.wikipedia.org/wiki/James_Chanos
Excerpt:
James S. Chanos (born 1958) is an American hedge fund manager, and is president and founder of Kynikos Associates, a New York City investment company that is focused on short selling.
[edit] Life and career
Born in 1958 in Milwaukee, of Greek origins,[1] he was schooled at Wylie E. Groves High School and Yale, where he graduated in 1980. In business, he developed an investment strategy based on intensive research into stocks looking for fundamental and large market failures in valuation: typically underestimated or previously unreported failings in the business or market of a stock. Followed by committing to a (usually large) short-position which he is willing to hold for long period of time—almost the mirror image of Warren Buffett's reputed "fundamentals+long stay" investment strategy[citation needed]. Because of this model, his investments function more like those of a whistle-blower than most typical investments. Examples of this include short-selling companies such as Baldwin-United, and more recently Enron Corporation.
He rose to fame in the 1980s as a short seller who had a knack of spotting stocks that he thought to be overvalued. After working as an analyst in several firms, he founded Kynikos (Greek for "cynic") in 1985 as a firm specializing in short selling. A critical position taken at Kynikos was his shorting of Enron.[2]
In October 2000, Chanos started research into the valuation of Enron Corporation. He examined their use of mark to model (opposed to mark-to-market) accounting, which, in Chanos' experience, results in management overstating earnings, as well as what appeared to be a worryingly low (6-7%) return on capital investment. Enron stock declined from $90 in August 2000 to a low of $1 near the end of 2001.[3] Over this period, Chanos was a short seller of Enron during 2001, increasing his short position as more information surfaced. Kynikos profited greatly and Chanos himself became somewhat of a celebrity as a consequence of his early awareness of Enron's problems.[4]
More recently, James Chanos has warned that China’s hyperstimulated economy is headed for a crash, rather than the sustained boom that some economists predict.[5] He reiterated his concerns about the stability of Chinese economy, stating that historically analogous evidence points especially to a housing bubble, having mentioned commercial real estate in particular.[6]
http://www.deepcapture.com/tag/baldwin-united/
Excerpt:
Washington, and a much favored source of information for the New York financial press.
In 1985 – back when Chanos was still at Gilford; back when journalists did investigations rather than parrot whatever Jim Chanos whispered in their ears – way back then is when The Wall Street Journal published a front page story about a “network” of short sellers said to include Jim Chanos and Michael Steinhardt. The story suggested that this network destroyed public companies for profit and described some of the more egregious tactics – espionage; impersonating journalists to get inside information; conspiring to cut off companies’ access to credit; spreading dubious information – that were employed by Chanos and others in his network.
At the time, Chanos made some effort to publicly distance himself from Michael Milken. And he recently told one reporter that lawyers threatened him in the 1980s because he was selling short companies that had been financed by Milken’s junk bonds. However, the truth is that Chanos’s short selling in the 1980s tended to support Milken’s machinations, and in later years Chanos remained very much a part of the old Milken network.
Chanos got his big break in the 1980s by short selling and ultimately destroying a company called Baldwin United. As part of this effort, Chanos and his colleagues at Gilford Securities went so far as to meet with Baldwin United’s bankers, and (through all manner of horror stories) convinced the bankers to cut off Baldwin’s access to credit. Soon enough, the company went bankrupt, and Michael Milken quickly got himself hired as advisor to the bankruptcy.
According to a well-known businessman who was involved in the bankruptcy proceedings, Milken abused his advisory position, handing out confidential information to his network, which ended up owning much of Baldwin’s assets.
As the story goes, Chanos’s take down of Baldwin impressed Michael Steinhardt (the short-seller whose father was the “biggest Mafia fence in America”) and Steinhardt introduced Chanos to his key limited partners – including Ivan Boesky (later indicted for manipulating stocks with Milken) and Marty Peretz (a Milken and Boesky crony who would later co-found TheStreet.com, along with Boesky crony Jim Cramer and a few hedge funds in this network).
http://www.forbes.com/2002/07/25/accountingtracker.html
Excerpt:
The Soul of the Democratic Party Sold
Hedge funds have been major financial backers of Democratic candidates ever since Bill Clinton made like Abe Lincoln, the Great Emancipator, and set them free. Chelsea's mother Hillary received mucho hedge fund loot during her 2008 bid for the Democratic Presidential nomination. Hedge fund managers hedge their bets, and they also heavily backed Barack Obama, who rewarded them with a watered down "financial reform" bill that left hedge funds unmolested and hedge fund mangers' incomes taxed at the lower capital gains tax rate.
Former Goldman Sachs trading desk honcho Rahm Emmanul is President Obama's chief of staff, whilst his recent Supreme Court nominee, Elena Kagan, worked as a paid "adviser" to the financial power house. Goldman Sachs is what J.P. Morgan and the House of Morgan and Paul Mellon and the Mellon Bank were to Republican Administrations in previous years, the marionette master who pulls the strings.
As predicted by naysayers, within seven years of Clinton legitimating financial speculation, hedge funds and other speculative financial schemes helped bring the U.S. economy back on its knees in the worse political catastrophe since the Great Depression.
http://en.wikipedia.org/wiki/James_Chanos
Excerpt:
James S. Chanos (born 1958) is an American hedge fund manager, and is president and founder of Kynikos Associates, a New York City investment company that is focused on short selling.
Born in 1958 in Milwaukee, of Greek origins,[1] he was schooled at Wylie E. Groves High School and Yale, where he graduated in 1980. In business, he developed an investment strategy based on intensive research into stocks looking for fundamental and large market failures in valuation: typically underestimated or previously unreported failings in the business or market of a stock. Followed by committing to a (usually large) short-position which he is willing to hold for long period of time—almost the mirror image of Warren Buffett's reputed "fundamentals+long stay" investment strategy[citation needed]. Because of this model, his investments function more like those of a whistle-blower than most typical investments. Examples of this include short-selling companies such as Baldwin-United, and more recently Enron Corporation.
He rose to fame in the 1980s as a short seller who had a knack of spotting stocks that he thought to be overvalued. After working as an analyst in several firms, he founded Kynikos (Greek for "cynic") in 1985 as a firm specializing in short selling. A critical position taken at Kynikos was his shorting of Enron.[2]
In October 2000, Chanos started research into the valuation of Enron Corporation. He examined their use of mark to model (opposed to mark-to-market) accounting, which, in Chanos' experience, results in management overstating earnings, as well as what appeared to be a worryingly low (6-7%) return on capital investment. Enron stock declined from $90 in August 2000 to a low of $1 near the end of 2001.[3] Over this period, Chanos was a short seller of Enron during 2001, increasing his short position as more information surfaced. Kynikos profited greatly and Chanos himself became somewhat of a celebrity as a consequence of his early awareness of Enron's problems.[4]
More recently, James Chanos has warned that China’s hyperstimulated economy is headed for a crash, rather than the sustained boom that some economists predict.[5] He reiterated his concerns about the stability of Chinese economy, stating that historically analogous evidence points especially to a housing bubble, having mentioned commercial real estate in particular.[6]
http://www.deepcapture.com/tag/baldwin-united/
Excerpt:
Washington, and a much favored source of information for the New York financial press.
In 1985 – back when Chanos was still at Gilford; back when journalists did investigations rather than parrot whatever Jim Chanos whispered in their ears – way back then is when The Wall Street Journal published a front page story about a “network” of short sellers said to include Jim Chanos and Michael Steinhardt. The story suggested that this network destroyed public companies for profit and described some of the more egregious tactics – espionage; impersonating journalists to get inside information; conspiring to cut off companies’ access to credit; spreading dubious information – that were employed by Chanos and others in his network.
At the time, Chanos made some effort to publicly distance himself from Michael Milken. And he recently told one reporter that lawyers threatened him in the 1980s because he was selling short companies that had been financed by Milken’s junk bonds. However, the truth is that Chanos’s short selling in the 1980s tended to support Milken’s machinations, and in later years Chanos remained very much a part of the old Milken network.
Chanos got his big break in the 1980s by short selling and ultimately destroying a company called Baldwin United. As part of this effort, Chanos and his colleagues at Gilford Securities went so far as to meet with Baldwin United’s bankers, and (through all manner of horror stories) convinced the bankers to cut off Baldwin’s access to credit. Soon enough, the company went bankrupt, and Michael Milken quickly got himself hired as advisor to the bankruptcy.
According to a well-known businessman who was involved in the bankruptcy proceedings, Milken abused his advisory position, handing out confidential information to his network, which ended up owning much of Baldwin’s assets.
As the story goes, Chanos’s take down of Baldwin impressed Michael Steinhardt (the short-seller whose father was the “biggest Mafia fence in America”) and Steinhardt introduced Chanos to his key limited partners – including Ivan Boesky (later indicted for manipulating stocks with Milken) and Marty Peretz (a Milken and Boesky crony who would later co-found TheStreet.com, along with Boesky crony Jim Cramer and a few hedge funds in this network).
http://www.forbes.com/2002/07/25/accountingtracker.html
Excerpt:
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