Big Republican Svengali Brothers – Identified

The billionaire hedge fund manager David Einhorn is backing a venture capital firm run by his father, Stephen, left; Alvin Vitangcol, standing, and Mr. Einhorn’s brother, Daniel.

“Stephen Einhorn – a Wisconsin venture capital fund manager and major GOP donor – acknowledged Monday that he and his wife Nancy paid for dozens of anonymous billboards in and around Milwaukee and two Ohio cities warning residents of the penalties for committing voter fraud.

Democrats and civil rights groups complained that the signs – which were taken down last week – were concentrated in minority neighborhoods and intended to suppress the election turnout, though some were posted as far out as Waukesha and Washington counties.”

Svengali is a Mad Genius who manipulates folks behind the scenes and makes them do his bidding without their knowing it. The Einhorn family fit the Jewish stereotype of Svengalis. Money is a game to them that big brained people are prone to win. David Einhorn put up a million dollars to play Texas Hold’em poker, and keeps his company in the Cayman Islands so poor folks can’t get some ofhis chips. Of course R MONEY is their man because he will gift the cloak of invisibility to fellow Wall Street Casino Players so they can get back to the really Big Game without We the wee People looking over their shoulder as they rake in billions.

“Yeeeehaaaaaaw!”

To try and stack the deck when it comes to poor black people voting for their man, is to say small stakes players must be eliminated, for they are the 47% percent Romney mentioned, who vote for candidates who will grub stake them, give them a few chips in the form of food stamps and welfare. These Mad Geniuses want food stamp money put out in the public play so they can suck it up into their Big Chip Piles that impress the hell out of their own ilk – fellow bluffers! We’re talking about Big Bling-Bling for a Jewish family who has forgotten the Warsaw Ghetto and that Hitler accused the Jews of Germany as being money lenders and casino bank players.

Stephen said he does not want his sons to get hurt. Well, stop playing with folks like they do not have minds, a soul – and don’t deserve any money! Jews put on boxcars to Auchwitz had no money – or a vote! Nazi cops asked Jews to produce indentification, and made them wear a yellow Star of David. The Jews of Germany saw these monsters coming. The blacks of Ohio would not have known what hit them, why their man lost. This is Poltical Terrorism! Do the Einhorns give money to Israel? I hear they support the Arts.

Get out of the Arts! And get out of the Republican Party founded by – my family!

Jon Presco

“Stephen and Nancy Einhorn placed these billboards as a public service because voter fraud – whether by Republicans or Democrats – undermines our democratic process,” said the Einhorns’ statement, which was released by the Chicago public relations firm Culloton Strategies.

“By reminding people of the possible consequences of illegal voting, we hope to help the upcoming election be decided by legally registered voters.”

The Einhorns have made campaign donations to many Republican politicians, including Gov. Scott Walker, to whom they have given $49,750 since 2005, according to the Wisconsin Democracy Campaign.

Einhorn and his son Daniel run Einhorn & Associates, a Wauwatosa mergers-and-acquisitions consulting firm, and Capital Midwest Fund, a venture capital fund. Einhorn’s son David, a hedge-fund manager, sought unsuccessfully last year to buy a stake in the New York Mets.

On Monday, the liberal advocacy group One Wisconsin Now and African-American website theGrio identified the Einhorn Family Foundation, based in Milwaukee, as the group that paid for the voter fraud billboard campaigns.

The billboards began appearing earlier this month – 85 in the Milwaukee area and 30 each in Cleveland and Columbus. The signs said, “Voter Fraud is a Felony!” punishable by up to 3 1/2 years in prison and fines of $10,000. In smaller letters, the billboards said they were paid for by a “private family foundation.”

Last week, Clear Channel Outdoor took down the billboards under pressure from liberal groups. Officials with Clear Channel said the signs violated the company’s policy against accepting anonymous political ads.

Scot Ross, executive director of One Wisconsin Now, issued a statement Monday raising several questions for the Einhorns.

“Perhaps their Chicago public relations firm could answer why the Einhorns only felt it was necessary to target legal voters in minority communities, and why they didn’t feel the need to do this ‘public service’ throughout communities across Wisconsin where a majority of the residents are white,” Ross asked in his email. “Or put their name on it, rather than hiding behind the cowardly veil of anonymity.”

Last week, conservative talk show host Charlie Sykes posted an item on his blog detailing an interview with the head of the then-anonymous family foundation.

Sykes said the foundation chief was given the option of disclosing his family’s identity or taking down the ads. After initially considering releasing the family’s name, Sykes wrote, the foundation’s leader opted to pull the billboards because he was “reluctant to put his children and grandchildren at any risk.”
In the novel, Svengali transforms Trilby into a great singer by using hypnosis. Unable to perform without Svengali’s help, Trilby becomes entranced. The novel is less a discussion of the relationship between Svengali and Trilby than an evocation of “bohemian” Paris during the 1850s.
[edit] Jewish stereotyping
The scholar Edgar Rosenberg calls Svengali an example of anti-Semitic stereotyping in English fiction, and identifies him as a version of Ahasver, The Wandering Jew; he notes a reference to “Svengali walking up and down the earth seeking whom he might cheat, betray, exploit…”[1]
[edit] Portrayals
The character was portrayed in many silent movie versions of the story and in talking movies, and was played by Paul Wegener in a 1927 German silent film of the same name, by John Barrymore in a a 1931 version, by Donald Wolfit in a 1954 version in Technicolor, and by Peter O’Toole in a 1983 made-for-television modernized version, also in colour, co-featuring Jodie Foster. In the 1983 movie, the names of the characters were changed except for “Svengali”, which had become famous.
American songwriter and singer Steve Taylor wrote and recorded a song entitled “Svengali” that essentially tells the story. It was recorded on his 1987 album “I Predict 1990.”
Derren Brown performed an Olivier Award-winning live show titled Svengali in 2012.

@101freeway.com (Tom Snyder)
To: John Presco
Sent: March 30, 2001 5:46:49 PM GMT
Subject: Question on RRR
Hi, John –
Visited your website the other day and noticed you have the poem,
“Your Name” posted. I think it’s beautiful.
Lillian had given me a copy some time ago, and I am wondering if you know
where it was published.
Have you met Heather yet?
Best,
T
– — – — – — – — – — – — – –
Tom Snyder: Writer, collector of neat
quotes. Otherwise, mostly all thumbs.
– — – — – — – — – — – — – –
You see, you can’t please everyone,
So you got to please yourself.
– Rick Nelson
“Garden Party”

David Einhorn (born November 20, 1968), a Jewish-American hedge fund manager, is the founder and president of Greenlight Capital, a “long-short value-oriented hedge fund”. He started Greenlight Capital in 1996 with $900,000. Greenlight has generated about a 22% annualized return for investors.[4] Einhorn is also the Chairman of Greenlight Capital RE, Ltd, a Cayman Islands-based reinsurance company and is a major shareholder.
Einhorn has received extensive coverage in the financial press for short selling Allied Capital, Lehman Brothers and Green Mountain Coffee Roasters stock.[citation needed] He is also a critic of current investment-banking practices, saying they are biased to maximize employee compensation. He cites a statistic that investment banks pay out 50 percent of revenues as compensation, and higher leverage means more revenues, making this model inherently risky.[4]
Einhorn was a director at New Century Financial Corp., a major subprime mortgage lender, between March 2006 and March 2007. Greenlight Capital held 6.3% of the company’s stock at the time he resigned from the board.[5] In 2010, Einhorn was among 13 former officers and directors of New Century that paid more than $90 million to settle various lawsuits against the company, which filed bankruptcy in April 2007.[6]

Contents
 [hide] 
1 Allied Capital
2 Lehman Brothers
3 New York Mets
4 Microsoft
5 Green Mountain Coffee Roasters
6 UK Insider Dealing Case
7 Personal life and family
8 References
9 External links
[edit] Allied Capital
In May 2002, at the Ira W. Sohn Investment Research Conference, Einhorn made a speech about a mid-cap financial company called Allied Capital, and recommended shorting it. The stock opened down 20 percent the next day. Einhorn claimed that Allied was involved in lending practices that defrauded the Small Business Administration. Allied said that Einhorn was engaged in market manipulation, and illegally accessed his phone records using pretexting.
The U.S. Securities and Exchange Commission (SEC) investigated Einhorn for market manipulation, and Eliot Spitzer also announced that he intended to start an investigation.[7] In June 2007, the SEC found that Allied broke securities laws relating to the accounting and valuation of illiquid securities it held.[8] Einhorn has published a book, Fooling Some of the People All of the Time regarding this six-year fight.[9] In late 2008, the SEC began investigating charges that Einhorn has made about the SEC’s mishandling of this matter, including the possibility that “a former SEC attorney may have taken confidential investigative materials with him when he left the Commission and provided those materials to a company he went to work for as a lobbyist.”
Einhorn would come to view Allied as a microcosm of market trends: “What we’ve seen a year later is that Allied was the tip of an iceberg; that this kind of questionable ethic, philosophy and business practice was far more widespread than I recognized at the time…Our country, our economy, is paying a huge price for that.”[10]
[edit] Lehman Brothers
In July 2007, Einhorn shorted Lehman Brothers stock, believing that Lehman was under-capitalized, and had massive exposures to CDOs that were improperly accounted for.[11] He also claimed that they used dubious accounting practices in their financial filings.[4]
When Bear Stearns had to be bailed out by the Federal Reserve in March 2008, Lehman was widely considered to be in a weak financial situation.[citation needed] In a speech at a conference in April, Einhorn announced his Lehman short position.[4][12] In May, Lehman’s CFO Erin Callan held a private teleconference with Einhorn and his staff, who[13] hoped Callan could explain discrepancies they had uncovered since the firm’s latest financial filing. Einhorn publicly characterized Callan’s responses on the call in a negative light and Lehman stock fell sharply. Callan was fired a few weeks later when Lehman reported a $2.8 billion quarterly loss. Lehman soon declared bankruptcy in September 2008.
[edit] New York Mets
On May 26, 2011, the New York Mets announced that Einhorn had agreed to buy a minority share of the baseball team for $200 million.[14] Einhorn had the option to purchase a majority stake in the Mets after three years for $1 if current majority owner Fred Wilpon could not meet his financial obligations by then.[15] On September 1, 2011, the Mets announced that they had ended negotiations to sell minority ownership to Einhorn.[16]
[edit] Microsoft
On May 26, 2011, Einhorn called for Steve Ballmer, CEO of Microsoft, to step down after Microsoft had been passed by both IBM and Apple[17] in market value.[18]

U.S. money market rates elevated after storm

* Funding rates seen returning to normal next week

* Market activity light due to skeletal staffs

By Richard Leong

NEW YORK, Oct 31 (Reuters) – Wall Street firms and U.S. banks scrambled to raise cash on Wednesday, as U.S. financial markets resumed normal trading after a devastating storm pummeled the U.S. East Coast and closed major markets for two days.

Major banks and investment houses rely on the money markets – a key cash source for financial markets – to finance trading positions and loans they make. Companies sell commercial paper and other short-term loans to money market funds and other investors to fund their inventories and payrolls.

The massive storm, Sandy, disrupted these markets, thinned trading and drove up borrowing costs on Monday and Tuesday, although analysts expect money market rates to return to normal levels by early next week.

“It showed a bit of stress that everyone was trying to fund themselves,” said Mike Lin, director of U.S. funding with TD Securities in New York.

If banks were to struggle to obtain short-term funding, they could turn to the U.S. Federal Reserve, but there were no signs any banks needed to borrow emergency cash via the central bank’s “discount window,” analysts and traders said.

The Fed currently charges 0.75 percent at its discount window on loans to creditworthy banks.

A spokesman with the New York Fed, which oversees open market operations for the central bank, declined to comment.

MONTH-END COMPLICATION

But overnight borrowing costs in funding markets have since receded from levels seen on Monday and Tuesday, which were levels not seen since the height of the global credit crunch in late 2008.

Investors charged a borrower 0.35 to 0.40 percent for an overnight loan in the repurchase agreement (repo) market early Wednesday. This was double what they charged last week, analysts and traders said.

However, this was sharply lower than the 1.25 percent heard quoted late on Monday before Sandy made landfall in the U.S. Northeast. The storm knocked out power for about 8 million people and flooded the New York subways.

Money market funds and other large investors also commanded slightly higher compensation to buy commercial paper (CP).

The trading volume of these short-term corporate IOUs was a quarter of their average daily volume, traders said.

Interest rates on commercial paper that matures in a week on average was quoted at 0.25 percent, fractionally higher than last Friday. CP activity was non-existent on Monday and Tuesday, according to market participants.

The timing of the interruption also complicated the jobs for money market traders who typically seek cash to settle trades and exit positions on the last trading day of the month.

Traders at banks and other institutions rushed to raise money Monday and Tuesday to insure their trades were funded at least through Wednesday, when they had expected the stock and bond markets to reopen.

“It’s not as bad as it could have been, but people are still operating with skeletal staffs,” TD’s Lin said.

On Friday, the overnight repo rate ended at 0.20 percent.

In the $1.8 trillion tri-party repo market, a borrower obtains cash from investors by pledging Treasuries and other securities as collateral.

Longer-term repo rates were lower on expectations of trading returning to normal soon, analysts said.

“By next week, we should be back to normal ranges,” said Dave Sylvester, head of money markets with Wells Capital Management in Minneapolis.

Well Capital operates a dozen money market funds with combined assets of $130 billion.

One-week repo rates, for example, was last quoted at 0.20-0.25 percent, while one-week commercial paper rates were quoted in a similar range.

[edit] Green Mountain Coffee Roasters
Speaking at the Value Investing Congress in New York City on October 17, 2011, Einhorn publicly announced his short position in Green Mountain Coffee Roasters stock.[19] Prior to that date, the company’s share price had increased more than tenfold since March of 2009, the third-biggest gain in the Standard & Poor’s Midcap 400 Index. In his presentation Einhorn opined that the market for Green Mountain’s new Keurig single-cup coffee brewer was “limited,” and that the K-Cup coffee pods for the machine presented a “looming patent issue” for the company. He also said that Green Mountain had a “litany of accounting questions.” Following Einhorn’s speech Green Mountain’s share price fell by 10 percent, closing that day at $82.50.[20]
A few weeks later on November 9, 2011, Green Mountain’s quarterly report missed analyst expectations and its stock price plunged to $43.71. The company’s CEO Lawrence J. Blanford cited a “number of factors including changes in wholesale customer ordering patterns in our grocery and club channels” for the underperformance of the company.
[edit] UK Insider Dealing Case
In January 2012, the U.K. Financial Services Authority (FSA) fined Einhorn and Greenlight Capital $11.2 million for allegedly trading on inside information. Einhorn obtained information on the Punch Taverns Plc (PUB) equity fundraising by a broker representing the company prior to public knowledge of the event. Within minutes of receiving the information, Einhorn sold more than 11 million shares over the following four days, avoiding a 29.9% stock price collapse and subsequent loss of about £5.8 million. [21]
The FSA stated “This was a serious case of market abuse by Einhorn and fell below the standards the FSA expects, particularly due to Einhorn’s prominent position as President of Greenlight and given his experience in the market.[22]. Tracey McDermott, acting director of the Enforcement and Financial Crime Division at the FSA, said “Einhorn is an experienced professional with a high profile in the industry. We expect someone in his position to be able to identify inside information when he receives it and to act appropriately. His failure to do so is a serious breach of the expected standards of market conduct. It is highly damaging to market confidence when privileged shareholders commit market abuse, and the high penalty reflects the seriousness of his breach.” [23]
Einhorn called the fine “unjust” and “inconsistent with the law” but said he would pay it “rather than continue an arduous fight”. [24] The fine was the second largest levied on an individual for financial crime in the history of Britain’s Financial Services Authority. [25]
[edit] Personal life and family
Einhorn graduated from Nicolet High School in 1987.[26] Einhorn graduated summa cum laude from Cornell University with a BA in Government from the College of Arts and Sciences in 1991. He was a member of the Sigma Alpha Epsilon fraternity at Cornell. Einhorn lives in Westchester County, New York with his wife, Cheryl Strauss Einhorn, and three children.
Einhorn is a major contributor and board member of The Michael J. Fox Foundation. In 2006, Einhorn finished 18th in the World Series of Poker main event and donated his winnings (over $650,000) to the foundation.[27] He is also on the board of Robin Hood and a contributor to numerous charities in the New York area. In the Spring of 2009, as promised in his book Fooling Some of the People All of the Time, Greenlight Capital donated half its share of profits from their shorting of Allied Capital stock (an additional $6 million – Greenlight already donated $1 million in 2005 to Tomorrows Children’s Fund – to make a total of $7 million) to three organizations (Tomorrows Children’s Fund, The Project On Government Oversight (POGO) and the Center for Public Integrity (CPI). In 2012, Einhorn again pledged to donate his winnings from the 2012 World Series of Poker Big One for One Drop Tournament, a one million dollar buy in, wherein he won $4,352,000 for his 3rd place finish.[28][29]
Einhorn’s father Stephen and his brother Daniel together run Einhorn & Associates, a Wauwatosa mergers-and-acquisitions consulting firm, and Capital Midwest Fund, a venture capital fund. Stephen and his wife Nancy are major supporters of the Republican Party and, in the United States presidential election, 2012, were revealed to have funded the placement of anonymous anti-voter-fraud billboards in Wisconsin and Ohio. Chicago public relations firm Culloton Strategies released the senior Einhorn’s statement.[30]

phen Einhorn – a Wisconsin venture capital fund manager and major GOP donor – acknowledged Monday that he and his wife Nancy paid for dozens of anonymous billboards in and around Milwaukee and two Ohio cities warning residents of the penalties for committing voter fraud.
Democrats and civil rights groups complained that the signs – which were taken down last week – were concentrated in minority neighborhoods and intended to suppress the election turnout, though some were posted as far out as Waukesha and Washington counties.
“Stephen and Nancy Einhorn placed these billboards as a public service because voter fraud – whether by Republicans or Democrats – undermines our democratic process,” said the Einhorns’ statement, which was released by the Chicago public relations firm Culloton Strategies.
“By reminding people of the possible consequences of illegal voting, we hope to help the upcoming election be decided by legally registered voters.”
The Einhorns have made campaign donations to many Republican politicians, including Gov. Scott Walker, to whom they have given $49,750 since 2005, according to the Wisconsin Democracy Campaign.
Einhorn and his son Daniel run Einhorn & Associates, a Wauwatosa mergers-and-acquisitions consulting firm, and Capital Midwest Fund, a venture capital fund. Einhorn’s son David, a hedge-fund manager, sought unsuccessfully last year to buy a stake in the New York Mets.
On Monday, the liberal advocacy group One Wisconsin Now and African-American website theGrio identified the Einhorn Family Foundation, based in Milwaukee, as the group that paid for the voter fraud billboard campaigns.
The billboards began appearing earlier this month – 85 in the Milwaukee area and 30 each in Cleveland and Columbus. The signs said, “Voter Fraud is a Felony!” punishable by up to 3 1/2 years in prison and fines of $10,000. In smaller letters, the billboards said they were paid for by a “private family foundation.”
Last week, Clear Channel Outdoor took down the billboards under pressure from liberal groups. Officials with Clear Channel said the signs violated the company’s policy against accepting anonymous political ads.
Scot Ross, executive director of One Wisconsin Now, issued a statement Monday raising several questions for the Einhorns.
“Perhaps their Chicago public relations firm could answer why the Einhorns only felt it was necessary to target legal voters in minority communities, and why they didn’t feel the need to do this ‘public service’ throughout communities across Wisconsin where a majority of the residents are white,” Ross asked in his email. “Or put their name on it, rather than hiding behind the cowardly veil of anonymity.”
Last week, conservative talk show host Charlie Sykes posted an item on his blog detailing an interview with the head of the then-anonymous family foundation.
Sykes said the foundation chief  was given the option of disclosing his family’s identity or taking down the ads. After initially considering releasing the family’s name, Sykes wrote, the foundation’s leader opted to pull the billboards because he was “reluctant to put his children and grandchildren at any risk.”


Vice President Joe Biden joined House Democrats in lashing tea party Republicans Monday, accusing them of having “acted like terrorists” in the fight over raising the nation’s debt limit, according to several sources in the room.

Biden was agreeing with a line of argument made by Rep. Mike Doyle (D-Pa.) at a two-hour, closed-door Democratic Caucus meeting.

“We have negotiated with terrorists,” an angry Doyle said, according to sources in the room. “This small group of terrorists have made it impossible to spend any money.”

Biden, driven by his Democratic allies’ misgivings about the debt-limit deal, responded: “They have acted like terrorists.”

Biden’s office initially declined to comment about what the vice president said inside the closed-door session, but after POLITICO published the remarks, spokeswoman Kendra Barkoff said: “The word was used by several members of Congress. The vice president does not believe it’s an appropriate term in political discourse.”

Biden later denied he used that term in an interview with CBS.

“I did not use the terrorism word,” Biden told CBS Evening News anchor and managing editor Scott Pelley.

Earlier in the day, Biden told Senate Democrats that Republican leaders have “guns to their heads” in trying to negotiate deals.

The vice president’s hot rhetoric about tea party Republicans underscored the tense moment on Capitol Hill as four party leaders in both chambers work to round up the needed votes in an abbreviated time frame. The bill would raise the debt limit by as much as $2.4 trillion through the end of next year and reduce the deficit by an equal amount over the next decade.

Democrats had no shortage of colorful phrases in wake of the deal.

Rep. Emanuel Cleaver (D-Mo.) called it a “Satan sandwich,” and Rep. Luis Gutierrez (D-Ill.) called seemed to enjoy the heat analogy, saying: “the Tea Partiers and the GOP have made their slash and burn lunacy clear, and while I do not love this compromise, my vote is a hose to stop the burning. The arsonists must be stopped.

The deal was consummated Sunday night, the text of the bill was posted in the wee hours of Monday morning, and the House was expected to vote first on it Monday afternoon or evening. But there are still plenty of concerns in both parties and in both chambers.

Liberal Democrats have had the most averse reaction to the plan, which ensures between $2.1 trillion and $2.4 trillion in deficit reduction over the next decade without requiring any of it to come from tax increases.

Biden told Democratic lawmakers that the deal would take away the tea party’s “weapon of mass destruction” — the threat of a default on U.S. debt obligations.

“They have no compunction about blowing up the economy to get what they want,” Doyle told POLITICO after the meeting.

Read more: http://www.politico.com/news/stories/0811/60421.html#ixzz2Abr9ym9S

About Royal Rosamond Press

I am an artist, a writer, and a theologian.
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