lurk moar, stay off the runway
Republican V Democrat
Devil trips interesting
Netanyahu is having issues with submarines
https://www.jpost.com/israel-news/politics-and-diplomacy/netanyahu-plunged-to-new-depths-in-submarine-scandal-vote-analysis-646472
something is going down gorefag is here
Paradigm Global, the Bidens and allegedly fraudulent hedge funds – a summary
his is a summary of the situation to put all the posts in one place. You can read this as an alternative to the other posts – though I will leave the original posts up for posterity. There are some versions on the web that are wildly inaccurate. All I will assert is that the Biden’s firm has been shockingly sloppy about basic due diligence issues. Unsurprisingly the inaccurate versions are coming from right-wing politics driven blogs (who like the idea that Biden’s family is in trouble) and who reinvent complex facts to fit their simple world view. Some of the financial blogs have been much better.
The short version is that an allegedly fraudulent hedge fund (Ponta Negra) shared an office and a phone number and a common marketer (Jeff Schneider) with Paradigm Global a fund of hedge funds owned by the Vice President’s family.
Paradigm Global have said that they were subtenants – and that they were introduced via their common marketer.
The story however is murkier than that simple explanation. However it is consistent with repeated and extreme sloppiness by the Vice President’s family and the fund of hedge funds they control.
First we run through the players in this drama.
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The small alleged fraudulent hedge fund: Ponta Negra
Ponta Negra is a hedge fund run out of a unit in Connecticut that just had its assets frozen by a Federal Judge and had the SEC accuse it of fraud. The Justice Department has yet to file criminal charges and unless criminal charges are filed you would have to wonder what the point of the current crackdown is.
The alleged fraud is brazenly simple. The company simply produced fake return numbers and doctored accounts from their counterparty brokers to over-represent funds under management. The last set of published return numbers I have access to is here.
More
http://stateofthenation.co/?p=34158
marinara mmmmmmmm