Comments on Advance Indiana™: How Rahm Emanuel Made $18.5 Million In Investment Banking Without Any Experience

Gary? Why didn't the shareholders who voted a...

2011-02-08T20:33:46.754-05:00

Gary? Why didn't the shareholders who voted against it, dump their shares too? Were they not allowed?

Remember how all the Enron employees were the ones left holding the bag. I don't believe they were allowed to ditch their stock before it was too late.

I think it is worth it to cash out your investment...

2011-02-08T20:31:18.066-05:00

I think it is worth it to cash out your investment accounts, take the 10% hit and put the money into silver.

Currently there is not enough silver mined to meet manufacturing demand, let alone the increasing investor demand.

Don't be surprised when silver is $50 an ounce (or more) at the end of 2011.

Also, everyone should read Katherine Austin Fitts (ass't housing sec'y to Bush and whistleblower) which exhaustively explains and footnotes in her 23 page report that explains how JP Morgan Chase is manipulating the silver market.

When I closed my Chase checking account I dropped the report off with the branch manager. He said they don't buy into "conspiracy theories". LOL!

I'm quite happy with my local, honest credit union.

HERE IS THE REPORT ABOUT THE METALS MARKET MANIPULATION:
http://solari.com/archive/Precious_Metals_Puzzle_Palace/

Exactly, Gary! I hated watching what they did to...

2011-02-08T20:20:47.863-05:00

Exactly, Gary!

I hated watching what they did to Martha while they completely ignored the real insiders.

She handled the whole thing marvelously and came back strong.

AI, You nailed it with your 4:08 blog post.

2011-02-08T19:42:09.895-05:00

AI,

You nailed it with your 4:08 blog post.

See this excerpt "In an Oct. 6, 2000, letter...

2011-02-08T18:10:51.464-05:00

See this excerpt

"In an Oct. 6, 2000, letter sent to shareholders, IPALCO's leadership wrote that "your board of directors has carefully reviewed and considered the terms and conditions of the share exchange agreement, and has determined that it is fair and in the best interests of IPALCO and its shareholders for IPALCO to be acquired by AES pursuant to the terms of the share exchange agreement. Your board of directors has unanimously approved the share exchange agreement, and recommends a vote for approval of the share exchange agreement."

Despite the board's apparent enthusiasm, the acquisition didn't exactly receive an overwhelming stockholder endorsement: More than 45 percent voted against it. But it passed and, at the end of March 2001, the actual stock swap took place. Within days, the price of AES shares started falling. Six months later, it took a one-day plunge of 49 percent after the company announced that its 2001 results would be worse than expected. As of this writing, AES shares have lost more than 90 percent of their March 2001 value. Yet by the share-exchange date, virtually all of IPALCO's board members and officers had dumped their stock -- walking away, according to the lawsuit filings, with an estimated $43.6 million in profits and golden-parachute benefits . . .

The IPALCO revelations have certainly added interest to Indiana's upcoming elections. The top state post up for grabs this year is the office of secretary of state -- which, among other things, has oversight of securities. Democrat John Fernandez, the 41-year-old two-term mayor of Bloomington, has opened both barrels on his opponent, 32-year-old Todd Rokita, a deputy to Sue Ann Gilroy, the current Republican secretary of state. Both candidates are calling for increased regulatory vigilance and authority, and both support a recently begun investigation into the IPALCO affair by Gilroy's office. However, Rokita has not only avoided any direct criticism of IPALCO, he's hosted Mitch Daniels at a fundraiser, which drew his opponent's fire.

"Wherever I've been discussing this with people," Fernandez says, "I see a lot of eyes rolling. No one believes there can be a serious investigation when Mitch Daniels and the current secretary of state are headlining fundraisers for Rokita. Hell, after the fundraiser, the Indianapolis Star quoted 'members of Rokita's campaign' saying that 'Daniels did nothing wrong while on the board.' Do they know something about the investigation that we don't?"

In an August interview on an Indianapolis TV station, Daniels said that when he was on the IPALCO board, he asked management to hire a "separate financial counsel" for the board, and this consultant confirmed that the AES merger was "the best step for shareholders." Daniels also said he'd sold IPALCO stock in January 2001 "to comply with my ethics agreement at the time of my appointment" as OMB director. Price, Fernandez and others note, however, that the timing was awfully convenient. More importantly, they say, the continuing claims of diligence, by Daniels or anyone else on the board, are precisely what must be investigated.

http://www.prospect.org/cs/articles?article=mitch_daniels_due_diligence

It's enough to make you want a Bat signal you ...

2011-02-08T17:44:25.796-05:00

It's enough to make you want a Bat signal you can roll out, aim at the sky, and hope somebody responds. To place any faith in our public servants has become the real comic book. It takes a radio consumer advocate to call-out Chase by name for their foreclosure practices. Know any D.C. Senator or Representative that will do that? Not without a calculation on where they'll make up the lost donations.

Hope springs eternal. I'm hoping on Mourdock.

Just exactly how did Mitch make millions on the sa...

2011-02-08T17:35:43.130-05:00

Just exactly how did Mitch make millions on the sale if IPL?

That was simply for window-dressing purposes only....

2011-02-08T16:08:03.534-05:00

That was simply for window-dressing purposes only. Talk to whistle blowers. It's a complete waste of time to report insider trading to the SEC. If it's somebody important, they won't do a damn thing. Stewart was just a small peanuts case thrown out to appease the serfs so they would make us think the inside elites aren't gaming the system to amass large amounts of wealth. The days of investing in a stock and watching it grow are over. They've pretty much ended employee pension plans. They force the masses into plans that bilk the small-time investors to enrich the Wall Street investment bankers and their friends in politics. Money is no longer made based on actual sweat equity anymore. Workers' will retire with nothing in their 401(k) plans while these bastards live the life of royalty in their retirement.

Well, Gary. They did go after Martha Stewart over...

2011-02-08T14:57:48.487-05:00

Well, Gary. They did go after Martha Stewart over $60k, didn't they? It was one of the greatest SEC witch hunts ever.