Saturday, September 3, 2011

Private Federal Corporation

http://www.sourcewatch.org/index.php?title=Private_Federal_Corporation
Excerpt:
A Private Federal Corporation (PFC), also known as a Federal Government Corporation (FGC), is a corporation which has been established by the Federal Government. There are, of course, benefits to this, not the least of which would be the disbursement and management of funding by the corporation that would not be subject to Congressional oversight or monitoring. An additional benefit would be autonomy in operations.
Examples of existing PFCs are:
COMMUNICATIONS SATELLITE CORPORATION

Courtesy of COMSAT
COMSAT, or the Communications Satellite Corporation, was created in 1962 with the passage of the Communications Satellite Act. The act authorized the formation of a private corporation to administer satellite communications for the United States. COMSAT was given responsibility for many activities including the development of a global satellite communications system, the acquisition and maintenance of ground stations around the world, and the development of new satellite technologies. COMSAT is governed by a Board of Directors elected by the company's shareholders and the President of the United States. Half of the company's shares are owned by major communications companies such as AT and T, ITT, and Western Union, and the rest are held by members of the public. COMSAT has offices worldwide and its headquarters are located in Washington, D.C.


In-Q-Tel is a Private Government Corporation, designated as a private, "non-profit enterprise funded by the Central Intelligence Agency (CIA). Their mission is to identify and invest in cutting edge information technology (IT) solutions that serve U.S. national interests. Working from an evolving strategic blueprint that defines the agency's most pressing needs, In-Q-Tel connects with entrepreneurs, established companies, universities, researchers, and venture capitalists to develop technologies that pay out in superior intelligence capabilities. In-Q-Tel provides a source of capital, technical and operational expertise, a beta/prototyping site with 'power users', a fast track to commercialization, and a potential source of revenue."[1]

The Millennium Challenge Corporation (MCC) "is a United States Government corporation designed to work with some of the poorest countries in the world. Established in January 2004, MCC is based on the principle that aid is most effective when it reinforces good governance, economic freedom and investments in people. MCC’s mission is to reduce global poverty through the promotion of sustainable economic growth.
"Before a country can become eligible to receive assistance, MCC looks at their performance on independent and transparent policy indicators. MCC selects eligible countries for Compact Assistance." [1]


http://www.sourcewatch.org/index.php?title=Prison-industrial_complex
Excerpt:

http://solitarywatch.com/2011/06/07/from-bop-to-cca-federal-prison-director-defects-to-private-prison-company/
Excerpt:

http://www.sourcewatch.org/index.php?title=Federal_Reserve_Board
Excerpt:

Current Members of the Board

http://en.wikipedia.org/wiki/TIAA-CREF
Excerpt: 
On June 28, 2007, the California State Teachers' Retirement System (CalSTRS) announced its selection of TIAA–CREF as the sole investment provider for its supplemental retirement savings programs. CalSTRS is the second-largest public pension plan and the largest teachers' retirement fund in the United States.

http://www.mathforamerica.org/web/guest/about-us/board/roger-ferguson
Excerpt:

http://en.wikipedia.org/wiki/Credit_Suisse
Excerpt:
Criticisms
  • In an article published by Reuters on February 23, 2008, Brazilian public prosecutor Karen Kahn announced that several employees of Credit Suisse as well as others from UBS, Clariden Leu and AIG were under investigation by federal authorities.[6] In 2007, police arrested 20 people, including bankers at UBS, Credit Suisse unit Clariden and AIG Private Bank after the discovery of illegal activities including money laundering, tax evasion, fraudulent banking and operating without a banking license.[7] During the course of Operation Switzerland in 2008, Christian Peter Weiss and 13 other employees of Credit Suisse were arrested in Rio de Janeiro for helping operate an illegal money transfer scheme.
  • The New York Times reported on December 16, 2009, that Manhattan District Attorney Robert Morganthau, the Justice Department and Federal Reserve had reached an agreement with Credit Suisse in which Credit Suisse was fined $536 million. Credit Suisse settled on charges that it violated sanctions regulating financial transactions with Iran. The charges included "stripping", the practice of removing the identity and origin of funds used in transactions. Credit Suisse employees stripped the identities of Iranian banks enabling funds to be transferred to the Atomic Energy Organization of Iran and the Aerospace Industries Organization, entities respectively involved in the production of nuclear weapons and long range missiles. Credit Suisse advised Iranian banks such as Bank Melli and Bank Saderat on methods to hide their identities and send more than a billion dollars through New York banks.
  • In 2009 a federal bankruptcy judge in Montana accused Credit Suisse of "naked greed" so overreaching as to "shock the conscious of the court." The judge was referring to an alleged "loan to own" scheme between Credit Suisse and Yellowstone Club founder Tim Blixseth in which Credit Suisse lent the private ski and golf club $375 million, $210 million of which Blixseth took as a personal payment. This payment sparked a lawsuit by club investor Greg LeMond, charges of tax evasion by state governments [8] and eventually led to the Club's bankruptcy. [9] The Yellowstone Club - Blixseth court findings opened the doors to other suits targeting Credit Suisse with predatory lending practices. Credit Suisse faces a class action lawsuit on behalf of more than 3,000 investors seeking $24 billion in claims for similar real estate deals in Idaho, Nevada, Montana and the Bahamas.[10]
  • In 2011 Credit Suisse, facing a U.S. Department of Justice probe, reportedly agreed to settle claims they aided clients evade U.S. taxes through secret accounts and other dealings to avoid a formal federal indictment. The agreement reports to include paying more than US$1 billion in fines and releasing details on U.S. account holders and related deals where the bank may have aided clients in evading U.S. taxes.[11]
Lloyds Banking Group, Barclays, and several other banks were involved with similar information stripping scandals around the same time as Credit Suisse.[12]

http://projects.washingtonpost.com/2007/clinton-speeches/list/
Excerpts:
1)

DateLocationSponsor(s)PaymentTranscript
Feb. 5, 2001New York, NYMorgan Stanley Dean Witter$125,000
Feb. 10, 2001Aventura, FLAventura-Turnberry Jewish Center$150,000
Feb. 11, 2001Sundance, UTGroup Vivendi Universal$150,000Speech transcript
Feb. 19, 2001Redwood Shores, CAOracle Corp$125,000
Feb. 27, 2001New York, NYCredit Suisse First Boston$125,000
March 8, 2001Atlanta, GAAsian American Hotel Owners Association$125,000

2)

Sept. 8, 2001 Sydney, Australia Markson Sparks! (on behalf of Children's Hospital at Westmead $150,000 
Sept. 9, 2001 Sydney, Australia Markson Sparks! (on behalf of Labor Council of New South Wales) $150,000 
Sept. 10, 2001 Melbourne, Australia J.T. Campbell & Co. Pty. Ltd. $150,000

http://www.nydailynews.com/blogs/dailypolitics/2010/09/former-intrepid-museum-chief-a.html
Excerpt:
10 comments

Breaking: Former Intrepid Museum Chief To Pay $1 Million In Pension Scandal Settlement

The former head of the Intrepid Sea-Air-Space Museum has agreed to pay $1 million to settle his role in a massive state pension fund pay-to-play scandal, a source with knowledge of the deal just said.
bill white intrepid.jpg
Bill White
Attorney General Andrew Cuomo is scheduled to announce the settlement agreement with Bill White any minute.
Cuomo last year slapped a subpoena on White and other middlemen who helped arrange pension deals for fees during disgraced former Controller Alan Hevesi’s four-year term.
The News reported last year that Bill White & Associates had received $2 million from City Investment Fund LP, which got pension fund pension.
Cuomo last year also returned a $1,000 donation he received from White because of the ongoing investigation.
White this past May quit his job with the Intrepid Sea-Air-Space Museum, which he held since 1992, amid the probe.
Six people have entered guilty pleas as a result of Cuomo's probe, including Hevesi's former chief investment officer, David Loglisci.
More than a dozen companies have also settled with Cuomo, paying fines and agreeing to adopt a new code of conduct the AG was pushing.

http://www.fisherbrothers.com/financial-investing/city-investment.php
Excerpt:
City Investment Fisher Brothers, along with the Morgan Stanley Real Estate Fund IV, LP (MSREF), an affiliate of Morgan Stanley & Co., co-sponsor the City Investment Fund, an investment vehicle created expressly to pursue opportunistic real estate investments within the five boroughs of New York City.
With aggregate capital commitments of $900 million from a select group of investors, including the New York City and State Pension Systems, The Fund is positioned to become a leading provider of capital for real estate investment within New York City. Fund investors benefit from the combined expertise of the Fund's sponsors, whose proven track record of investing, knowledge of local real estate, extensive network of relationships within the industry, and financing capabilities give the City Investment Fund a clear competitive advantage.
City Investment Fund Website

http://www.nydailynews.com/ny_local/2010/08/05/2010-08-05_andrew_cuomos_prosecution_of_hank_morris_political_advisor_to_comptroller_hevesi.html
Excerpt:

http://www.scribd.com/doc/16709916/Corrected-Austin-Amended-Complaint-w-ExhibitsErrata-Corrections-Made-as-FILED
PENSIONS in New Mexico

No comments:

Post a Comment