Re: NEW TIM BARELLO 4/16
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As Goldman Sachs faces $1B+ SEC fraud charges, CMKM Diamonds shareholder reveals penny stock shock
April 16, 4:03 PM
Manhattan Headlines ExaminerTim Barello
Photo Credit: Flickr/pfala“Our job is only to hold up the mirror: to tell and show the public what has happened.” – Walter ‘the most trusted man in America’ Cronkite (1916 – 2009)
More than a year ago, the world united in astonishment and disgust when it emerged that Bernie Madoff – heretofore considered one of the most powerful and respected men on Wall Street – was nothing more than a vile, polluted criminal. For several months, the media extensively scrutinized this scandal, and then, following Madoff’s sentencing to 150 years in prison last June, all the mainstream hype gradually died down.
Since then, however, a number of very serious red flags have been raised about the U.S. and global financial systems, which collectively suggest that Madoff’s worldwide crimes actually pale in comparison to others that continue today:
In July, former New York Governor Elliot Spitzer – once known as “the Sheriff of Wall Street” – told MSNBC’s Dylan Ratigan that the Federal Reserve itself is a “ponzi scheme”. Dylan has since said on the air, “In America, we are getting closer to fully exposing the greatest con and cover-up in the history of this country. It involves our banks, the Federal Reserve, our Congress, and of course, you and me.”
By August, The New York Post’s Page Six published an article – under the headline “Scandal Bigger Than Bernie” – in which Madoff whistleblower Harry Markopolos is reported to have said that there are other financial criminals who will make Madoff “look like-small time.”
Come October, two of Madoff’s victims filed suit against the Securities and Exchange Commission for “serial, gross negligence” vis-à-vis its failure to properly investigate “numerous detailed, credible complaints” against Madoff; the case also highlights Markopolos’ decade-long plight in getting the SEC to listen to him.
Just in time for the holidays, Antonio Maria Costa, head of the UN Office on Drugs and Crime, reconfirmed a January 2009 report that, following the infamous Wall Street collapse several months prior, most “interbank loans were funded by money that originated from drug trade and other illegal activities.”
Several weeks ago, CNBC reported that Markopolos – whose new book is aptly-titled No One Would Listen – “was living under a ‘death sentence’ for ten years” as he tried to alert the SEC about Madoff. As the article winds down, it notes that within the book “Markopolos speaks candidly about the SEC and Wall Street turning a blind eye to the multibillion dollar scam Madoff was orchestrating right underneath their noses.”
Today, the SEC announced civil charges against Goldman Sachs for committing fraud that cost investors more than $1 billion by “making materially misleading statements and omissions in connection with a synthetic collateralized debt obligation (“CDO”) GS&Co structured and marketed to investors.”
In light of the aforementioned reports – and the U.S. government’s history of being, shall we say, economical with the truth – I believe it is sinfully imprudent to dismiss a $3.87 trillion dollar fraud lawsuit against SEC commissioners, current and past, simply because others maintain it is a fringe, loony, cultish concoction.
Although CMKM, a sub-penny stock, might not provide as much prime-time sensationalism as Goldman Sachs and its despicable, but hopefully soon departing CEO Lloyd Blankfein, this suit absolutely raises many mind-boggling allegations of official corruption. For this reason, We the People of the United States have a duty to investigate these claims. At the very least, this means the Plantiffs of this action have a right to try and make their case in a court of law. The rationale for such is elementary: the truth shall set us free.
For the tens of thousands of dismayed CMKM shareholders – who are often mocked with horrid contempt by dim-wits – this means that after years of rumors and confusion, they will finally ascertain some sort of closure. At this juncture, we cannot draw any assumptions as to the probable outcome of the Bivens class-action suit; the Rule of Law dictates that the defendants of that action have a right to respond in court.
Very likely, the SEC commissioners will move for dismissal; however, such motions may be rejected, and if so, the merits of this action will be thoroughly tested. Per legal procedures, to produce a successful outcome for injured parties, a preponderance of evidence will then need to be satisfactorily produced by the plaintiffs.
As of now, for insight on these unprecedented official fraud charges, interested members of the public have to rely upon the allegations brought forth in the complaint, and by individual shareholders like Dave Nelson that are willing to discuss their experiences.
On Tuesday, the 13th of April, Nelson joined RT’s The Alyona Show to speak about his recent difficulties; the follow up segment continues an examination of the CMKM saga, which Alyona Minkovski initially debuted (see below) in early April after her interview with Wikileaks founder Julian Assange. The New York Times has since posted Minkovski’s popular clip with Assange on its website.
