A cartoon I drew in 2007 when the banking system began its spectacular collapse: SEC Goes After Sentinel Hedge Fund For Fraud!
Hedge funds flourished once bank regulations and free trade allowed financiers to operate openly offshore while avoiding taxes. With the keys to the Federal Reserve vault firmly in hand, they gambled with everyone’s lives, they are the sharks swimming in the world’s free trade oceans, savaging entire countries while becoming very, very rich off of this destructive behavior.
The above ‘work of art’ which sits in the lobby of the SAC pirate operation is typical of modern art today. Easy to make, even lazy, while shocking and of course, supposedly a commentary about Life Today which it certainly is. Mr. Hirst uses dead creatures to put on this macabre carnival exhibit and his shark in a tank is called ‘The Physical Impossibility of Death in the Mind of Someone Living‘ which is just plain silly.
It is a sea predator used like a gangsta prop to scare druggie customers who might think of cheating him. It should be titled ‘The Physical Impossibility of Hedge Fund Traders Being Human’. This shark ‘art’ sits in the lobby at SAC headquarters.
About the shark: it rotted just like the hedge fund it represented. Mr. Cohen who is the founder of SAC and who is in hopefully serious legal trouble, spent over $100,000 ‘fixing’ this stupid fake art. The fix?
Fishing for another victim and then embalming it again! And since they rot over a 10 year span, this noxious, evil ‘art’ thing will have to have a constant stream of victims to be fed into this ‘art’ to keep it alive while killing them. Gah. This makes me sick.
On the other hand, the looming termination of SAC makes me very happy if it happens! SAC Capital Indicted For Unprecedented Insider Trading Scam – Bloomberg
There was no unusual price movement or volume in stocks where SAC Capital holds the biggest percentage of shares outstanding. Banks including Deutsche Bank AG and New York-based Goldman Sachs were debating whether to suspend doing business with the hedge fund, which has been one of Wall Street’s biggest trading clients, according to two people briefed on the matter.
The fund hired Richard Lee, who had a reputation of working at an “insider trading group” while working as a portfolio manager at another hedge fund, the U.S. alleged. That fund was Citadel LLC, according to a person familiar with the matter who asked not to be identified because the matter is private.
From last month, SAC Capital up 4 percent this year as probe continues but Investors flee SAC Capital – Jun. 2, 2013. SAC has all its offices in NYC and Stamford, Conn while pretending to be operating in one of Queen Elizabeth’s properties, Anguilla, which the new baby might inherit after being simply born.
The charade of using these offshore corporations should stop. The Queen should be forced to give up sovereignty of these islands due to lack of due diligence. Cohen is one of the ‘tribe’ who funds AIPAC and runs Congress so that he can get away with criminally operating in the open. He and his buddies have conspired to destroy all our financial controls and remove all taxes on their activities and now our country is paralyzed by all this, going steeply into debt while the fix is always to eliminate jobs, eliminate pensions, eliminate social security, etc.
That is, hammer the 99.9% of the population so this elite group can be obscenely rich.
Steven A. Cohen – Wikipedia, the free encyclopedia (Note to all readers: SAC’s website is locked so I can’t explore it. There is NO PUBLIC FACE for this pirate operation!)
He has an estimated net worth of $9.3 billion as of March 2013, ranked by Forbes as the 106th richest man in the world…. Cohen’s fortune at $8.3 billion in September 2011, ranking him the 35th richest man in the United States.
…Cohen grew up in a Jewish family in Great Neck, New York, where his father was a dress manufacturer in Manhattan’s garment district, and his mother was a part-time piano teacher. He took a liking to poker as a high school student, often betting his own money in tournaments. Cohen credits the game with teaching him “how to take risks.” Cohen received an economics degree from the Wharton School at the University of Pennsylvania in 1978.
…In December 2009, Steven A. Cohen and his brother Donald T. Cohen were sued by Steven’s ex-wife Patricia Cohen for racketeering and insider trading charges. On March 30, 2011, the United States District Court in Lower Manhattan dismissed the case, saying Ms. Cohen’s claims amounted to little more than speculation and rumor.
On April 3, 2013, the 2nd U.S. Circuit Court of Appeals in New York said a lower court had erred in dismissing fraud-based claims by his former spouse and revived the lawsuit. It also revived claims of racketeering and breach of fiduciary duty, while upholding the dismissal of an unjust enrichment claim.
So, his ex-wife is the one who first pulled the trigger? HAHAHA. This SEC investigation will hopefully finish him off. I am also betting that when the government tries to take his massive wealth into receivership, most of it will be melted away. He isn’t really rich. He is profligate. He spent money like crazy and his empire is a hollow shell game.
All the fabulous ‘art’ is just a bunch of very rich guys, mostly Jewish NY players, who bought and sold art with each other as trading points for status. Little of it has any real value in a sane world. This junk passing as art will be seen in later centuries as just so much madness. So if the Feds try to sell his ‘art’ it won’t fetch much if other Jewish players in the art game shy away from a government auction.
The main problem here is our culture has allowed vast piles of wealth to accumulate into very few hands and with this, these guys, across the planet, built really crappy mansions made mainly with materials which deteriorate as fast as the shark in the tank and they commissioned artworks that rot away rapidly, too. No art like the Renaissance which, incidentally, was funded by stealing the gold, silver and other things from New World societies and enslaving both them in South America and enslaving a huge number of Africans.
The present looters have barbarian tastes which are crude and even psychopathic. They leave behind ruined cities and wrecked countries. SAC should be terminated due to self preservation. That is, our nation should not tolerate these pirates looting not just Africa and South America like the imperialists of Europe, but for looting the US too.
Detroit is in ruins due not to blacks living there or unions. What killed Detroit was free trade and the floating fiat currency and all our major manufacturing cities are being systematically destroyed by these forces and where does it stop? Will the only city remaining not bankrupted be Houston and NYC? How insane is that?
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