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Archives: Morgan Stanley CEO John Mack: Quintessential Crook in a Gucci Suit. Welcome to Slabbed
Alright folks you want to know the type of people that are benefiting from the rescue package? I’m going to profile one in current Morgan Stanley CEO John Mack. I don’t have much time to compose this post so I’ll be featuring the work of others on this subject. I hope some of the general public anger can be channeled to the worst of the offenders like Mr Mack. We start our tale couresty of the UK Independent:
John Mack, the chief executive of Morgan Stanley, is at the centre of an insider-dealing storm, after allegations from a former investigator at the Securities and Exchange Commission that he passed trading tips to the head of one of Wall Street’s oldest hedge funds.
Morgan Stanley said yesterday the allegations, reported in The New York Times, were simply not true. The hedge fund involved, Pequot Capital, said it had been investigated by the SEC but had never done anything wrong.
The SEC investigator, Gary Aguirre, claims he was ousted from the organisation after insisting it subpoena Mr Mack, a powerful ally and fundraiser for President George Bush. Read more…
Sticky: Slabbed finds Danny Abel and Aaron Broussard together in the “Legal Department” at the Super 8 Motel on Clearview
Folks, Danny Abel and Aaron Broussard go wayyyyy back so it is no surprise that Broussard represented Abel in a suit public adjuster Earl Carr filed against Abel for legal malpractice. The suit made a few blawgs like this one out of Chicago but frankly my interest in the case is predicated on the fact that Abel and Broussard appear to be part of the “legal department” at the Super 8 Motel on Clearview Parkway. This case was decided by the Louisiana 5th Circuit Court of Appeals just last month in favor of Abel.
In a hint of what is coming at Slabbed from the Trout Point gang, public figures all, Abel cross sued Carr and his lawyers. Of course as we saw from Paulsen v State Farm Abel’s abilities as a lawyer are not what they once were as he resorted to trickery and deceit in the conduct of that case. He came up empty in his counter suit against Carr too.
In any event I have some great stuff on tap concerning the legal team in Paulsen which as a group appear to be quite the litigious bunch. For instance here is a picture of Shane (D’Antoni) Gates taken after he was pulled over with a BAC of over .270 from the related federal court case. Now to be clear Gates’ name has not come up in connection with Trout Point Lodge but he did surface as a long time Danny Abel crony that co-owned the house in Slidell that was the subject of Eric Paulsen’s suit against State Farm we covered a few weeks back. Simply put this bunch of guys provide us with fertile ground for examination as their path of destruction through life gives us some clues as to some of the longer term players in Aaron Broussard’s professional career. Read more…
Tuesday Music: Oh hell yeah….
Up 18% on a day like today in a week like this? The rock of strength in troubled times does not fail…..
News must be leaking.
sop
Fazzio appeared relaxed as he sat next to his wife while waiting to be arraigned. When one of his attorneys asked Fazzio if he needed a copy of the 13-page indictment, Fazzio joked that he already had a copy mounted in a scrapbook.
You folks reckon he already knows the names of the would be jurors? Well either that or Fazzio went to Mark St Pierre for advice on how to act in the courtroom.
sop
We’ve done a few layman’s posts on the meaning of a Daubert hearing so I won’t get into the technials and the ruling, which I promise to roll out later in its own post or in comments to this one, is very bad for Team Dane. I hear rumblings that being limined into oblivion once means 10 years bad luck for an expert witness.
sop
In this episode of Magnum J.D.: Slabbed does the NOLA social scene as we go “high society” at 4717 St Chas……
I strongly alluded to it here last year but now I’ll come right out and say it that Magnum will be forever linked to Sean Alfortish of Louisiana Horsemen’s Benevolent and Protective Association scandal infamy and indeed Sean’s world must be closing in on him with word that his right hand lady in scam Mona Romero joined her sister in law Cricket in chirping and moaning sweet nothings about ol’ Sean to Team Letten. But Sean is also famous in local legal circles for stealing Magnum’s wife who by all accounts dropped poor Magnum like a hot potato in favor of lustful debauchery and other extra marital activities.
So with Alfortish facing a nice well deserved stretch at the Grey Bar Hotel what is a wife to do besides ditch ol’ Sean and head back for the calmer environment of uptown New Orleans. Quite frankly this may ultimately end up as a rematch made in heaven. Slabbed wishes the couple well should they reconcile. Salute!
sop
Well folks, let’s just say things have gone from bad to worse for Team Kelly since my first post on this topic last week. To recap what has happened since then, Sheriff Guzman did confirm Kelly did get shitkicked at Parish Prison though he described a different set of circumstances than Team Kelly’s version of events. That said when inmates can let themselves out of their own cells it is clear Parish Prison could be confused with the jail in Maybury which means it is a good thing a new one eventually will be built.
Then on Friday we get word via the Times Picayune’s John Simerman that Kelly went to a court hearing on Friday to have his bail reduced so he could check out of OPP only to find the State has added another rape charge to go along with a child pornography charge. His newest alleged rape victim was 14 when at the time and folks something tells me it only gets worse from here. Simerman’s story was well written journalistically but the normally dull Joe Friday like style of genre was nicely enhanced here IMHO. As a bonus we also learn Slabbed’s old friend Michael Fawer is handling the defense for Team Kelly.
I suspect whatever chance Team Kelly has will be at the appellate level. I’ll keep an eye on this story due to back story and/or enhancement potential.
sop
Tonight on your local news…..
There will be some dumbass talking head that doesn’t know what he is talking about bullshitting you on the economy or some political hack pointing fingers at the other party playing the blame game. Trust me when I say turn off the TeeVee and turn instead to the Daily Bail. That is all.
sop
And the headline of the day from Yahoo Finance is: Shades of 2008: World Markets on Edge Ahead of Monday’s U.S. Open. ~ One silver lining is that gas will become cheaper at the pump.
We have a reader request for Monday Music and it is a good choice. Dedicated to Tim Geithner who never met a Wall Street exec he failed to pay a taxpayer-funded bonus to under the ruse of contract sanctity. FYYFF!
sop
Saturday Video: Perception v Reality on display….
This is a must see courtesy of Mr CLS on Yahoo ALL and the Daily Bail. It somewhat reminds me of the old Ameritrade commercials about using a broker and “the only one broker was me”.
sop
Slabbed News Miscellany: Catching up edition
I’ve been sent several links by readers asking for a highlight and time has been scarce so here are some links with the ledes had I been charged with writing them:
Jackasses in DC continue to act like children playing blame game on credit downgrade.
Ed Blakely well knows his fungus as he continues to drink ‘shroom juice before going before the press. (Blowhards like Ed are one reason people don”t respect the Ivory Tower set.)
Kenneth Bowen, Robert Gisevius, Robert Faulcon and Anthony Villavaso can’t say we didn’t tell them they were so fucked for blowing away innocent people on the Danziger Bridge cause we did. In a pleasant surprise the Sun Herald ran the AP Wire story on this topic on their front page today.
Ol’ Steph is on a tear with a pair of great columns: Diaper Dave Vitter forever remains a hypocrite and Erroll Williams is a pleasant surprise as NOLA Tax Assessor.
and finally.
The Saints are going back to the Superbowl this year!
sop
When its comes to reporting on economic news…..
I remember back during the bad old days of evil empires, the US media would never fail to point out that Pravda was a propaganda mouthpiece for the Soviet government whenever they quoted material in news reports from that media outlet. Along those lines I’d be remiss if I did not point out that publishing government economic data uncritically or hosting self servicing shills and blowhards as Fox 8 did Thursday night is essentially the same folks.
Mr CLS on Yahoo All bumped up an old post titled The Fiduciary Principle: “No Man Can Serve Two Masters. Somewhere in that post title is why the media should never host a stock broker opining on the economy. It is also the reason the brokerage industry is fatally flawed IMHO as the stock salesman at your local Edward Jones office that masquerades as a financial expert is in reality incentivized to sell you investments that makes them the highest commission.
I cut my blogging teeth on subjects such as these in the many years I blogged on financial issues on Yahoo and such is also the reason you see me posting as Sop to this day on Slabbed as the Sop franchise has gravitas in certain high finance circles world wide and I wanted those folks to find this project called Slabbed. And I’m likely to point other media outlets peddling propaganda as news such as Fox 8′s did in their Thursday Night lead story in the coming days.
And a final ps to Analystwoman on Yahoo All. Glad to see you caught on ma’am. 
sop
US Long Term Debt Downgraded. It’s gone from bad to worse.
My predication: Monday is gonna be a rough one on the markets. The WaPo’s Ezra Klein Blog has some basic analysis but for bondholders when rates rise, bond pricing drops. Monday morning all eyes need to be on bonds, not the initial reaction of the equity markets. We all are likely pay higher rates on home mortgages go forward and those in variable rate mortgages may see their rates rise sooner than later. From a broad view, the excesses in the economy that manifested themselves in the year 2000 stock market bubble with the 2007 real estate crash on its heels remain in the economy that must be worked out. The end result of this is that the standard of living of all but the obscenely wealthy will take a hit and more Americans living on the financial razors edge will be thrown into poverty.
But there is also another story here IMHO folks. I’ll begin it with this simple fact: One of those obscenely wealthy folks I mentioned above, namely one Edward B Rust Jr of State Farm infamy, is on the board of directors of Mcgraw Hill, the owner of Standard and Poors. Affectionately known as Snake Farm to those that have been bafukkied on the Farm, I think a very strong case can be made to throw several members of this robber baron’s family in the pokey for what they have done.
Folks back in the day it was called organized crime but since they bought most of the politicians beginning in the 1980s such corporate predators are actually respectable in official circles these days. I bet ol’ Ed loved it when Barack Obama genuflected before him and opened up wide when he ran for the Illinois Senate and later President. About 90% of the GOP is no better by my reckoning.
sop
sop81_1
nowdoucit
Bam Bam Bigelow
russell1200
