Goldman Sachs I.P.O. Fraud in eToys Discussed by N.Y. Times (Op/Ed by Joe Nocera)

[laserhaas]

What we have here, is a failure to communicate!

I'm reposting this from News Breaks (learning DU Rules). It is a New York Times Story by Op/Ed journalist Joe Nocera entitled; " Rigging the I.P.O. Game ": This is just the tip of the story. It is a classic "pump-n-dump" tock scheme.

This case of "organized crime" involves both Goldman Sachs and Romney's Bain Capital.
(You are being blessed to have privy to the REAL "retroactive" secrets).


My entity (CLI) was the Delaware Bankruptcy court appointed fiduciary (to maximize returns at a minimum of expense).

The attorney in Delaware for Goldman Sachs has already confessed to lying under oath to the Chief Bankruptcy justice in the eToys case (01-706). Additionally, the counsel for Goldman Sachs in Delaware also (furtively) represents Bain Capital.

Our eToys case, who I am, the fraud on the court, by officers of the court that was perpetrated (admitted "intentional&quot via more than 30 erroneous Rule 2014 Affidavits. Was NEVER properly investigated and/or prosecuted;
because of the "other" (retroactiv) secret.

A partner of the eToys Debtor's counsel law firm, from 1999 to August 2001; became the United STates Attorney on August 2, 2001. Then the CEO of Bain Capital resigns and, two weeks later, announces his run for Governor of Massachusetts.

He who has ears to hear and eyes to see. Good people (and bad) have died, in order to preserve this fiasco to become the telltale insight into how an mob boss almost became POTUS.

The TRUE "retroactive" secrets "may" bring down two monopolistic, ruthless empires. (Bain Capital and Goldman Sachs). [That is, of course, if we live in a legitimate world. Which USAG Holder stipulated {correctly} - that we don't].|Rigging the I.P.O. Games]" - (the eToys classic pump-n-dump stock scheme involving both Goldman Sachs and Mitt Romney's Bain Capital).

You should read the story first (here) - and then come back to thise discussion for further insights.

For further background on who I am, you can read either the Wall Street Journal "eToys conflicts" story.

OR

Rmuse at PoliticusUSA.com story that I reposted here on DU;
"Meet the Man Battling Romney for 12 years"

This story is the "missing link" from Matt Taibbi's Rolling Stone (Sept. 2012) - cover story;
"Greed and Debt" The True Story About Mitt Romney and Bain Capital"

What Taibbi missed (when his Editor or GC cancelled our conference call) - is the fact that the SAME players are in Stage Stores, Kay Bee and eToys (including Michael Glazer).



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Here's some excerpts from the New York Times story by Joe Nocera;

The plaintiffs [eToys] charge that Goldman Sachs had a fiduciary duty to maximize eToys’ take from the I.P.O. Instead, Goldman purposely set an artificially low price, so that its real clients, the institutional investors clamoring for the stock, could pocket that first-day run-up. According to the suit, Goldman then demanded that some of those easy profits be kicked back to the firm. Part of their evidence for the calculated underpricing of eToys, according to the plaintiffs’ complaint, was that Lawton Fitt, the Goldman executive who headed the underwriting team and was thus best positioned to gauge the market demand, actually made a bet with several of her colleagues that the price would hit $80 at the opening. (Through a Goldman Sachs spokesman, Fitt declined to comment. Goldman denies that it did anything wrong, about which more shortly.)

Recently, however, I came across a cache of documents related to the eToys litigation that seem to tilt the argument in favor of the skeptics. Although the documents were supposed to be under seal, they were sitting in a file at the New York County Clerk’s Office, available to anyone who asked for them. I asked.

What they clearly show is that Goldman knew exactly what it was doing when it underpriced the eToys I.P.O. — and many others as well. (According to the lawsuit, Fitt led around a dozen underwritings in 1999, several of which were also woefully underpriced.) Taken in their entirety, the e-mails and internal reports show Goldman took advantage of naïve Internet start-ups to fatten its own bottom line.

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What the New York Times story is missing - is the fact that -the attorney for Goldman Sachs is also the law firm for Bain Capital. Goldman Sachs wanted a "defunct" eToys to cover up the pump-n-dump scheme. It is about to ALL come out that Bain Capital and Goldman Sachs (secret) law firms - LIED to get their positions in the Delaware Bankruptcy Court.

One Goldman Sachs/ Bain Capital law firm is www.MNAT.com

The other furtive firm is Paul Traub's - Traub Bonacquist & Fox firm ("TBF&quot

MNAT lied to become eToys attorney - and then Traub's firm lied to become the eToys Creditors attorney. They were going to sell everything to Bain/ Kay Bee (Michael Glazer and Romney [STILL CEO at the time]) - for $5.4 million.

Yours truly came on board (with my CLI entity) and forced them to pay tens of millions and pursued firing Goldman SAchs.

They compensated by taking Barry Gold from Mitt Romney's Stage Stores and putting him in as eToys President/CEO - ILLEGALLY!

Now that Romney has lost the election and cannot deliver on his promises - the JIG is UP!


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NOTE:

A previous version was posted yesterday (here)
- on News Break
- and locked because I'm a newbie

[aquart]

1. This will not be the first incident of criminally corrupt Wall Street lawyers.

Grand jury seal protects some outrageous stuff.

[laserhaas]

2. Wasn't sealed by Grand Jury - it was SEALED after Spitzer promoted Judge Moskowitz OFF case

Judge Bradley and Judge Moskowitz were going after Paul Traub for lying to the NY Sup Ct.

Traub is ("supposed" to be) prosecutor - but he was "Handpicked" by his partner in eToys crime (www.MNAT.com)

Thus Al Capone (GSachs) had Frank Nitti (Traub/MNAT) hand pick their partner in crime (Traub) to prosecute Al Capone (GSachs)

it is a VERY BIG DEAL that this case is coming to light now (because Romney/ Bain are involved)
(the "retroactive" secret is eToys)

You will see it all very soon.

AFTER Judge MosKowitz was promoted Off the case;
they "perverted" the SEAL order - SEALING the Entire case.

[aquart]

4. Wasn't talking about your case.

Jurors can't speak.

[cbrer]

3. "What Wall Street did to us in 1999 pales in comparison to what they did to the country in 2008,”

States the founder and former CEO of eToys.

The rot in the financial system of the United States will NOT stop until we make it stop. It will continue to line the pockets of the psychopaths running it until the nation is bled dry.

We nearly had a crime boss for a president...

[laserhaas]

5. You are so RIGHT ON - RICO Boss Romney

Look at Rmuse stories at PoliticusUSA.com on this subject