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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFire Dog Lake Tells eToys Saga that Taibbi, Moyers and WSJ Bury
It's not easy taking down big sleazies; even when you are blessed (if that's what one wants to call salt in the wounds) with having confessions to illegalities. And yet, today, we have Fire Dog Lake, with a quip in its "news" section, doing more in one story than Taibbi, Moyers and WSJ have done in dozens.
DSWright took his own time (several weeks), studying the facts independently and told the "eToys.com" tale with Daniel's online article titled: "The Unending eToys.com Bankruptcy". FDL's content worker, DSWright, concludes (properly) that it goes on and on - because - as he points out
[center]yours truly isn't going to let it go![/center]
And, why should I? Doesn't Senator Warren, Bernie Sanders, along with Bill Moyers, Matt Taibbi and others, always point out the fact that Wall Street practically gets away with murder (in this particular case - there are many, direct links, of issues of mayhem & homicides - UNanswered); but no fed agent/ agency will touch the likes of Goldman Sachs, Bain Capital and/or Mitt (the Pitts) Romney? Aren't victims allowed (actually have a duty) to vex organized criminals? NO matter how big and powerful they are?
Then why do I have to beg them to take up the torch of the poster child case? (frustrating beyond compare)..
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DSWright points out the wrongs with his Fire Dog Lake item"The Unending eToys.com Bankruptcy", stating that Goldman Sachs's reputation is damaged by the case (Daniel really has no idea how REALLY bad this case is),
stating:
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Mr. Wright also notes that the Delaware Bankruptcy Judge (Mary F Walrath) refused to hear about the frauds in the case - stating she had to get back to Tweeter {sic}. The reason for the "sic", is that Her Honor (really sick) was referencing an actual case named Tweeter.
Can Judge's refuse to give permission to be informed about corruption & frauds?
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[font size=6 color=burnt red][center][br]Goldman Sachs sued Goldman Sachs[/center][/font]
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Mr. Wright points to other media outlets such as Rolling Stone, NY Post, Wall Street Journal (via Pittsburgh Post-Gazette) and more. As I'm one of the sources for Taibbi's motivation to do the "Greed and Debt" story, I was miffed that he totally skipped over the eToys.com saga. Matt even missed such issues (cancelling our conference call) that Michael Glazer (CEO of Kay Bee) was also at Stage Stores.
In the same fashion, DSWright is not permitted by editorial protocols, to point out the fact that, in eToys - Goldman Sachs sued Goldman Sachs. That is to say, it was admitted by eToys attorney MNAT (who was also "secretly" Delaware counsel for Goldman Sachs and Bain Capital) that the law firm failed to disclose the Conflict of Interest of also being Goldman Sachs counsel.
The issue being - eToys sued Goldman Sachs - and MNAT chose the prosecutor (Paul Traub)!
Can Capone be protected from prosecution by Nitti becoming the law firm for a victim of Capone? And/or is it ethical for Capone's Nitti, while benefiting from Perjury acts (lying to the court about having NO conflicts of interest) to then be able to hand-pick the person to prosecute Capone?
Did you just say "DUH"!
And yet, that's what just recently happened. MNAT, acting as lawyer for both eToys and Goldman Sachs (but ONLY approved by the court to represent eToys) signed Barry Gold's settlement with Barry Gold's partner (Paul Traub) of the Billion dollar fraud of Goldman Sachs stealing the public offering price from $20 to $85 per share.
[center]And Taibbi says it's "my" case - not everyone else's!
Bill Moyer's and Company blocked me from their website!
Wall Street Journal promises to fire anyone who asks to tell the story![/center]
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They need everyone to be corrupt; and I need only 1 (just one single solitary - GOOD - public servant to do their job). That's why - You're dam right, I'm not quitting - because Romney wins his eToys/Kay Bee thievery when I do!
And that ain't right!
It just sucks that a non Wall Street entity such as Fire Dog Lake, is the only media outlet that even comes close to telling any of the gritty parts of the eToys story. It is Romney's Achilles heel - his "retroactive" secret germane - if anyone would dare to tellthe corruption game of Colm Connolly!
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It is a shame that people have to email me (outside) to ask questions!
Be that as it may, here's the gist of the issues at hand. In bankruptcy, a court must approve the parties working on bankruptcy matters. Yours truly was approved (via my company) per court order. As were Xroads LLC, MNAT and Paul Traub's firm of TBF.
Once approved - you have a fiduciary duty to the "client".
MNAT to eToys.
Traub to creditors.
Barry Gold (who replaced me) to eToys and the shareholders.
By not disclosing their direct links to Wells Fargo, Goldman Sachs and Bain Capital;
they are (in essence) betraying a court approved clients trust.
A fiduciary (such as an attorney at law) has a SWORN duty to protect the client - above everyone else.
eToys was sold and prices reduced to Bain/Kay Bee;
and this is a CURRENT crime (being that the statute of limitations runs for 5 years - AFTER - the case closes)
Also, anyone else (but these crooks) in charge of eToys v Goldman Sachs (NY Supreme Court case);
would have settled for $300 million (given the evidence at hand).
This is ALSO an ongoing crime (with 5 more years of Statute of Limitations).
No greater evil - for an attorney at law - than intentional betrayal of a clients trust!
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laserhaas
(7,805 posts)What no attorney at law will admit - is that it is against the law - to leave crooks,
to keep the keys to the vaults they admitted fleecing.
http://www.post-gazette.com/business/businessnews/2005/07/25/EToys-investors-claim-conflict-at-law-firm/stories/200507250210
laserhaas
(7,805 posts)Taibbi missed the fact that Glazer (CEO of Kay Bee) was a Director at Stage Stores
(actually, Glazer is now CEO of Stage)
laserhaas
(7,805 posts)Joe Nocera's OpEd discovered another Smoking Gun
http://www.nytimes.com/2013/03/10/opinion/sunday/nocera-rigging-the-ipo-game.html?pagewanted=all&_r=0
Mnemosyne
(21,363 posts)Mnemosyne
(21,363 posts)laserhaas
(7,805 posts)They need everyone to be corrupt;
and we just need only 1 -
not to be!
msanthrope
(37,549 posts)Background for DUers..
http://www.democraticunderground.com/10025469587
laserhaas
(7,805 posts)and part of the problem.
msanthrope
(37,549 posts)portion of the evening.
Your attempts at flirtation aside, I thank you for posting proof of the journalistic standards of FDL. Apparently, they can't work the Google. But Matt Taibbi can.
Response to msanthrope (Reply #13)
Post removed
Nuclear Unicorn
(19,497 posts)msanthrope
(37,549 posts)such as the one described in the OP obscure the real misbehavior, and act as a sideshow/cover that the miscreants can point to to delegitimize actual, pointed claims.
It's like JFK CT---no, we don't have the whole story, but claiming that the gray aliens were working with the CIA isn't going to get us any closer to a truth.
Mnemosyne
(21,363 posts)laserhaas
(7,805 posts)And repeated on US Financial News
Cool!
laserhaas
(7,805 posts)Very Cool
laserhaas
(7,805 posts)says its embarrassing how WSJ, Forbes, Bloomberg etc., dont do this story properly.
I agree.
If they did Wonderful things would happen
mstinamotorcity2
(1,451 posts)I just don't like Mitt Romney!!! Grabbed the link and shared it. Thanks again.