Warren Buffet's team announced that Berkshire Hathway is set to have a 2.91 stake in Goldman Sachs; from options provided during the "bailout" era. Reportedly, Warren Buffet isn't putting in another cent. According to Market Watch story (here) - Buffet is profiting $2 billion from a $5 billion vote of confidence. Not to shabby a dealing for Mr. Midas.
Parachutist Fly By Goldman Sachs
In contrary news bizarre, the New York Police are investigating a strange fly by around Goldman Sachs. Where - purportedly - two parachutists did a mystery jump and fly by Goldman Sachs at 3 a.m. in the morning (see Wall Street Journal Metropolis story - HERE).
SEC Attempts to go after Mark Cuban - AGAIN
In 2008, a judge dismissed the SEC's quest to tarnish Mark Cuban. Evidence surfaced that the SEC staff were guilty of bad faith remarks against Cuban; but the SEC OIG says the SEC wasn't "that bad" (as if the SEC knows the difference between who to prosecute and who not to). USA Today has a story (here) with remarks by a "purported" expert who says Cuban should have settled.
HEY - SEC, how about the schemes of Bill Cawley and Steve Cammack?
Years ago, when the Tom Petters Ponzi case was in full scam, scheme gear, yours truly informed the SEC of Palm Beach Links Capital, Bruce Prevost & David Harrold (partners with Frank Vennes). Arrests of Prevost & Harrold resulted in their guilty pleas; but the bigger fish of Bill Cawley and Steve Cammack got away (thus far) 'SCOT FREE'!
POLITICO "Court Dismisses Sheldon Adelson defamation suit
Many already are aware that Mitt Romney received vast sums of money from Sheldon Adelson (who also backed Newt Gingrich). Some rumors have it that Sheldon Adelson sought a "friendly" United States Attorney General. Whether or not that be true, as soon as Romney lost the election; Sheldon Adelson admitted to the SEC that his firms may have bribed overseas officials in violation of the Foreign Corrupt Practices Act. The FCPA violations arose when Adelson was sued by a former key executive. (Please see the report by The New Civil Rights Movement article - HERE and the HuffPo article - HERE).
What is kind of a buried secret, is the fact that Sheldon Adelson's money funded Newt Gingrich buying the "King of Bain" documentary that was produced by a former Romney aide.
Real specious possible 'Red Herring' works!
Be that as it may, what this blogger finds just as much telltale is the fact that Price Waterhouse resigned as Adelson's accounting firm, after working with him for over 25 years. As is reported in the HuffPo story "Sheldon Adelson Grand Jury Money Laundering Probe" article that states;
Sands was dealt another unpleasant surprise in April, when PricewaterhouseCoopers, the accounting firm that had represented it for a quarter-century, suddenly resigned in a move that one source told The Wall Street Journal was spurred by legal and regulatory concerns. Sands, which insisted the accounting giant's departure wasn't linked to the government probes, has since retained Deloitte.
Though (arguably) Sheldon Adelson is one of those guys and operations that is Too Big to Fail and Too Big to Jail; the fact of the matter is (every once in a while) - Mr. Adelson doesn't win. As this Politico story points out (here) - Sheldon Adelson sued the National Jewish Democratic Counsel for defamation; and Adelson LOST. The judge dismissed the suit under "SLAPP" rules and orders Adelson to pay the NJDC's legal fees.
KUDOs to the Judge for not giving into power, money & might makes right!