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More trouble for Cohen´s
SAC Capital as Steinberg
indicted in New York

Reuters, by Nate Raymond & Matthew Goldstein*

Original Article

Posted By:BuckeyeRon, 3/31/2013 9:24:26 AM

U.S. prosecutors on Friday charged Michael Steinberg, a veteran portfolio manager at Steven A. Cohen´s hedge fund, with insider trading in two technology stocks, the most senior SAC Capital Advisors´ employee to be indicted in the government´s long-running probe. (Snip) The five-count indictment charges Steinberg, 40, with using inside information to trade shares of computer maker Dell Inc and chipmaker Nvidia Corp in 2008 and 2009 that generated about $1.4 million (920.4 thousand pounds) in illegal profits for Cohen´s $15 billion hedge fund. In a related civil complaint against Steinberg, the U.S. Securities and Exchange Commission

Comments:
Lot of reporters following this story but not much buzz...SAC agreed to a $616 million penalty for the tax and loss scam, slightly more than Dionne Warrick owes in back taxes...Meanwhile, the multi-billionaire head of the firm, Cohen, ain’t worried about the long-run criminal investigation…he just bought a Picasso for $155 million and a $60 million oceanfront home in East Hampton (that´s in NY, not Nigeria)

*(Additional reporting by Svea Herbst-Bayliss, Katya Wachtel and Sruthi Ramakrishnan)

Please do not include editors in attribution. Byline is sufficient.

      


Post Reply  

Reply 1 - Posted by: Blackeagle, 3/31/2013 9:50:53 AM     (No. 9252349)

Never underestimate the wrath of Obama. These insider trading investigations are sometimes witch hunts. Cohen mainly contributes to the GOP - e.g. Romney in 2012. $616 million in fines buys a lot of White House vacations.

http://www.campaignmoney.com/political/contributions/steven-cohen.asp?cycle=12

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Posted By: BuckeyeRon- 12/7/2013 9:35:05 AM     Post Reply
The former South African president died Thursday at age 95. Remember him through his uplifting and revolutionary words. 1. "A good head and a good heart are always a formidable combination." 2. "Never, never again shall it be that this beautiful land will again experience the oppression of one by another. " 3. "There is no passion to be found playing small - in settling for a life that is less than the one you are capable of living." (Snip) 12. "It is what we make out of what we have, not what we are given, that separates one person

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Rushlimbaugh.com, by Rush Limbaugh    Original Article
Posted By: BuckeyeRon- 12/6/2013 7:15:16 PM     Post Reply
BEGIN TRANSCRIPT RUSH: I´ve gotta tell, another little thing about Nelson Mandela. Do you realize in a couple of ways, maybe even more than a couple, Nelson Mandela has more in common or had more in common with Clarence Thomas than he does with Barack Obama? For example, Nelson Mandela (even prior to becoming president, but certainly after he became president of South Africa) insisted on compliance with his country´s constitution. He insisted on it. Obama looks at the US Constitution as an obstacle and makes end runs around it every day, practically. In that sense... These are the kind of

Admiring Mandela´s Lack of Resentment
Rushlimbaugh.com, by Rush Limbaugh    Original Article
Posted By: BuckeyeRon- 12/6/2013 7:08:26 PM     Post Reply
RUSH: Let me give you what is, I think, one of the most amazing things I ever heard Nelson Mandela say. We had fun with Mandela when he was in New York, when he came to New York and went to Yankees Stadium. But I´ll tell you, there are very few people that could have undergone what he went through and maintained any sense of dignity or optimism.(Snip) "Resentment is like drinking poison and then hoping it will kill your enemies." Is that not great? And it´s great because it´s exactly right. Resentment doesn´t do anybody any good.

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Reuters, by Caroline Humer    Original Article
Posted By: BuckeyeRon- 12/6/2013 4:02:59 PM     Post Reply
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Posted By: BuckeyeRon- 12/6/2013 11:36:04 AM     Post Reply
Rep. James Sensenbrenner Jr., the original author of the Patriot Act, says Director of National Intelligence James Clapper should be prosecuted for lying to Congress. "Lying to Congress is a federal offense, and Clapper ought to be fired and prosecuted for it," the Wisconsin Republican said in an interview with The Hill. He said the Justice Department should prosecute Clapper for giving false testimony during a Senate Intelligence Committee hearing in March. During that hearing, Sen. Ron Wyden (D-Ore.) asked Clapper whether the National Security Agency (NSA) collects data on millions of Americans. Clapper insisted that the NSA does not

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Posted By: BuckeyeRon- 12/6/2013 11:22:19 AM     Post Reply
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Washington Post, by Keith B. Richburg    Original Article
Posted By: BuckeyeRon- 12/6/2013 9:00:14 AM     Post Reply
To fully appreciate what former South African president Nelson Mandela was able to accomplish, it is necessary to hearken back to the South Africa he found when he emerged from prison in 1990, and what the country was like in those critical four years between his release and his election to the presidency in 1994. Put simply, South Africa was a violent, dangerous and heavily-armed place teetering precariously on the edge of an all-out race war. And in the early 1990s, it was entirely unclear which way the country would go. On one side, embittered white rejectionists were refusing to

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Guardian [UK], by Warren Murray    Original Article
Posted By: BuckeyeRon- 12/6/2013 8:03:38 AM     Post Reply
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How Nelson Mandela transcended
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Daily Mail [UK], by Max Hastings    Original Article
Posted By: BuckeyeRon- 12/5/2013 5:44:28 PM     Post Reply
Nelson Mandela was the most famous black man in history. He transcended race barriers to become an exemplar of human generosity of spirit. His towering personality made possible the peaceful transfer of power in South Africa from white minority to black majority rule. If he was less effective as president of his country than he had been as the symbol of resistance to apartheid, he demonstrated statesmanship unmatched in Africa. He inspired love as much as respect, and became regarded by hundreds of millions of people as a secular saint. More was asked of him, and sometimes claimed for him,

   

 

B-G1


 
Nelson Mandela, revered statesman
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Yahoo News, by Staff    Original Article
Posted By: BuckeyeRon- 12/5/2013 4:53:42 PM     Post Reply
Former South African President Nelson Mandela has died at age 95 of complications from a recurring lung infection. The anti-apartheid leader and Nobel Peace Prize laureate was a beloved figure around the world, a symbol of reconciliation from a country with a brutal history of racism. Mandela was released from prison in 1990 after nearly 30 years for plotting to overthrow South Africa´s apartheid government. In 1994, in a historic election, he became the nation´s first black leader. Mandela stepped down in 1999 after a single term and retired from political and public life.

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Posted By: BuckeyeRon- 11/28/2013 1:29:32 PM     Post Reply
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