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View Full Version : Where's the Money? Ask Rahm Emanuel



megimoo
08-19-2009, 06:56 PM
"If you think John Gotti the 'Teflon Don' was bad think again .We Need to use the RICO Act against Politicians and their little buddies !"

Tim Carney is a fellow who should be sleeping with a pistol under his pillow. As I've mentioned before, if you really, really, really want to follow the money, Tim's likely to have written about it.

And if you think "crony capitalism" is the exclusive property of the Bushitler/Cheneyoil gang, you are very wrong. Matter of fact, Rahm Emanuel is a pretty good counter-example.
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Rahm Emanuel on the Opportunities of Crisis
http://online.wsj.com/video/rahm-emanuel-on-the-opportunities-of-crisis/3F6B9880-D1FD-492B-9A3D-70DBE8EB9E97.html
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Emanuel left the Clinton White House in late 1998 with a job offer in hand from investment banker Wasserstein Perella & Co. Emanuel, with no experience outside of politics and no MBA, took a high perch as a managing director at Wasserstein Perella, and proceeded to get very rich.

Surely Emanuel’s work ethic, focus, and effectiveness were critical to his job success, but looking at the deals he worked on, it’s unarguable that government connections were what made him the best man for the job.

...One prototypical Emanuel client at Wasserstein Perella was Loral Space CEO Bernard Schwartz, a titan of the military-industrial complex. Schwartz was one of Clinton’s top two individual donors (giving the president more than $1 million in campaign contributions), and also beneficiary of Clinton’s executive decisions.
http://www.opensecrets.org/overview/topindivs.php?cycle=2002

megimoo
08-19-2009, 07:00 PM
(Yes, THAT Bernie Schwarz--the convicted Bernie Schwarz--who was extremely friendly with the ChiCom war-making department...)

When Rahm Emanuel entered the private sector and started looking for clients, Schwartz was among the first men he called. Schwartz hired him to execute some mergers or acquisitions

Hmmmm.
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The Bernard Schwartz Clinton afair :
May 24, 1998 New York Yimes .
Clinton-Loral: Anatomy of a Mutually Rewarding Relationship
http://partners.nytimes.com/library/world/asia/031199china-nuke.html
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That same year, Schwartz gave $606,500 to the Democratic Party. In a 1994 memorandum, the White House deputy chief of staff, Harold Ickes, wrote to Clinton about fund-raising. "I have it on very good authority that Schwartz is prepared to do anything he can for the administration," he wrote. Two years later, there was something that Schwartz wanted -- the transfer of satellite export approval from the State Department to the Commerce Department. In the letter he co-signed with the chairmen of Hughes Electronics Corp. and Lockheed Martin Corp., he wrote, "By making possible real 'one stop shopping' for all export authorizations related to commercial communications satellite systems, your decision will greatly enhance the ability of U.S. manufacturers to retain our global competitiveness."

The decision by the president to transfer satellite export approval to the Commerce Department overruled a recommendation by Secretary of State Warren Christopher and caused friction inside the Cabinet over concerns that American security could be compromised. Hughes is under investigation with Loral for its role in a failed 1996 launching. Hughes also gave campaign contributions, though its donations were more modest and bipartisan.

The 1996 launching attracted the attention of federal investigators after Loral told the government that a report with some technical data had been given to the Chinese as part of the Chinese effort to figure out why the launching failed. Despite these problems, Loral continued its China launchings, each requiring a presidential waiver. Postponing a launching can be a costly matter, and when Schwartz set out for the Blair dinner in February, he was hoping to prod Berger to give Loral a definite yes or no answer on the launching set for later that month.

Approval was complicated by the fact that the White House knew that the Justice Department was investigating Loral in the aftermath of the failed 1996 launching. Schwartz missed Berger at the Blair dinner, but Thomas Ross, a Loral vice president, wrote Berger eight days later. "If a decision is not forthcoming in the next day or so, we stand to lose the contract," Ross wrote. Although documents made available Friday by the White House show that the president was warned that approving the launching could be seen as letting Loral "off the hook on criminal charges for its unauthorized assistance to China's ballistic missile program," later that month a Chinese rocket carrying a Loral satellite took flight. And now the Chicoms have ICBM'S aimed at America thanks to Clinton-Loral.

megimoo
08-19-2009, 07:08 PM
Another item:

But Bill Clinton’s Federal Communications Commission insisted that federal law required SBC to sell the security company. Clinton’s old right-hand man, Emanuel, happened to be working on behalf of a venture capital firm called GTCR Golder Rauner that wanted to buy SecurityLink from SBC. The government pressure helped Emanuel get his clients a good deal, as the Tribune tells the story:
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“Under a regulatory deadline to divest itself of SecurityLink, SBC financed all but $100 million of GTCR’s $479 million purchase of the firm. Less than six months later, GTCR resold the company for $1 billion, earning a quick $500 million on its investment.”
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Nice work, when you can get it with a little help from your friends...

Oh, well. S'pose Rahm has any good buddies in the Big Three?
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http://dad29.blogspot.com/2008/11/wheres-money-ask-rahm-emanuel.html