Showing posts with label facebook. Show all posts
Showing posts with label facebook. Show all posts

Sunday, October 23, 2016

Obama Wants Curator to Federally Approve Websites



The biggest threats to liberty are people who purport to look out after our interest.  These patricians of plebeians believe we’re too stupid to decipher propaganda from reality. Barack Obama – our lord and master – wants a “curator” to sort through websites to ensure your Facebook page is federally approved.  Here is an excerpt from Brietbart:


He was critical of the current Wild West online environment where people could say anything on social media or on news websites.

“We are going to have to rebuild within this wild-wild-west-of-information flow some sort of curating function that people agree to,” he said.
Throughout his presidency, Obama has repeatedly complained about the existence of Fox News and Rush Limbaugh, causing division amongst Americans and making his job difficult, but he rarely offers a solution.
This time, Obama floated the notion of a media test during at a speech at Carnegie Mellon University in Pittsburgh on Thursday.
“There has to be, I think, some sort of way in which we can sort through information that passes some basic truthiness tests and those that we have to discard because they just don’t have any basis in anything that’s actually happening in the world,” he said.
 Of course, this wouldn’t be considered censorship because Democrats look out for the “little people.”  Thanks Big Brother.
Source:

Monday, August 27, 2012

N.C. Pension Fund: Something Stinks in Raleigh

Raleigh’s latest scandal will not go away. The state pension plan took a big hit when an investment in Facebook stock tanked. And people want answers:

State Treasurer Janet Cowell is coming under fire from state employees and retirees who are raising questions about the pension fund’s management after it invested in Facebook – which saw its value tank after its stock market debut.

The state reported losing $4.1 million on its $26 million investment in the social networking company’s initial public offering in May, but the actual damage could be much larger. The state’s 618,137 remaining Facebook shares are now worth half the $38 it paid for each.

“Given the fact that IPOs are always considered to be somewhat speculative … people are outraged that some of their retirement money was lost,” said Ed Regan, executive director N.C. Retired Governmental Employees’ Association, who expects an inquiry into the matter. “On this one they messed up, and people want to know if anyone is going to be penalized for this.”


What really smells about this situation is the incestuous relationship between prominent Democrats at the state capitol. Erskine Bowles, a former N.C. senatorial candidate and ex-president Bill Clinton’s chief of staff, may have instigated this investment boondoggle. Bowles is also a board member of Morgan Stanley and Facebook; both are defendants in a lawsuit filed by the state of North Carolina.

But it gets even better; the broker who bought the stocks for North Carolina is a major investor in Facebook:

A broker at the Virginia-based investment firm Sands Capital Management bought the Facebook stock for the state, the treasurer’s office acknowledged Friday after declining to name the buyer a day earlier. The investment firm is one of Facebook’s largest institutional investors, owning 11.65 million shares of the company as of June 30

And just when you thought that was suspect; the law firm chosen to represent North Carolina is a campaign contributor to State Treasurer Janet Cowell:

And now the law firm chosen to represent the state is also generating questions. Bernstein Litowitz Berger and Grossmann gave Cowell’s campaign more than $75,000 since her 2008 election to the post, according to state records.

Cowell’s spokeswoman said officials from the treasurer’s office and state attorney general’s office reviewed proposals from six securities law firms on retainer and interviewed four before selecting Bernstein Litowitz and Labaton Sucharow, both of New York

Why is a New York firm contributing to a North Carolina politician? Something is rotten in Raleigh, and others also smell the stench.

“It doesn’t pass muster,” said Steve Royal, a Republican certified public accountant challenging Cowell in the fall election. “They are looking for business. It’s pay to play.”

Royal demanded more information about the transaction, saying a dotcom IPO “is just not an appropriate investment for a pension fund.”

“Do we not have any limits?” he asked. “Are (the state’s brokers) free just to do anything?”

The questions compound other conflict-of-interest concerns raised in legal documents by a competing law firm about Cowell’s close connection to prominent N.C. Democrat Erskine Bowles, a board member at Facebook and Morgan Stanley, which is a named defendant in the state’s case.

Bowles’ wife hosted a major fundraiser for Cowell’s campaign, but he did not contribute. Cowell filed a legal document this week saying the state “is intent on zealously prosecuting this action against all viable defendants.”

Altogether, the situation troubles SEANC’s Watkins. “Something doesn’t smell right,” she said. “At minimum, it’s an appearance of impropriety.”


At the least!



Source: http://www.newsobserver.com/2012/08/25/2290152/questions-raised-by-state-pension.html#storylink=cpy


Saturday, August 18, 2012

Erskine Bowles Knee Deep in NC Pension Scandal

North Carolina state employee pensioners are taking a hit from another bad investment. And one of the Democratic Party’s top Tar Heel stars is in the middle of a scandal:

The state’s retirement system last week joined a class-action lawsuit against the social networking site and its underwriters, including Morgan Stanley and Goldman Sachs, that alleges the companies misrepresented Facebook’s initial public stock offer earlier this year. The original lawsuit was filed in May.

But the full extent of North Carolina’s exposure to the company’s dwindling stock value only became clear in court documents filed Aug. 9 in a New York federal court. The state disclosed the loss as it fights to be named among the lead plaintiffs in the case.

“Facebook and its underwriters told one thing to the public, but shared the real facts with only a few select investors on Wall Street,” State Treasurer Janet Cowell said in a statement. “Our goal is to recover our pension fund’s financial damages.”

The state pension fund – valued at $75.9 billion March 31 – provides retirement benefits for 850,000 current and former state workers
.

The fund bought 685,737 shares of Facebook stock May 17 at the initial price of $38 a share, according to documents from the state treasurer’s office. The state’s stock portfolio managers then sold a small portion of the $26 million investment the next day, making about $215,000. But the stock dropped nearly 20 percent in the first two days and now sits at nearly half its original value. The state’s reported $4.1 million unrealized loss is a legal calculation and the total amount could be much larger. At the time of the filing last week, the state still held about 618,000 shares of Facebook stock, records show. Facebook’s stock closed Friday at $19.05, down eight-tenths of 1 percent for the day.

North Carolina is arguing that they should be the lead plaintiffs in this lawsuit. But, there is a problem. Erskine Bowles, the Charlotte Observer’s messiah, is knee deep in this mess.

But a competing law firm is raising questions about whether North Carolina can serve as lead plaintiff given the state treasurer’s ties to Facebook and Morgan Stanley board member Erskine Bowles, a defendant in the suit.

Attorney David Rosenfeld with law firm Robbins Geller Rudman and Dowd wrote in court documents that Cowell and the state pension fund “maintain significant personal and financial ties” with Bowles, a prominent Democrat who is the former head of the UNC system and two-time U.S. Senate candidate.

The filings assert that Bowles’ firm Carousel Capital manages millions of dollars in the state pension fund and Bowles wife, Crandall, was a fundraiser for Cowell’s campaign. Cowell’s office did not respond Friday to questions about Bowles. The state’s attorney expects to file a response early next week.

It looks like the Chicago-way has come to the Tar Heel state.






Thursday, May 17, 2012

Facebook Co-Founder Would Rather be Caned Than Pay Capital Gains Taxes

What is the value of an American citizenship these days? To thousands of ex-patriots, their membership in this country is more of a liability than a privilege. And who can blame them. We have politicians who demonize the producers, while catering to the teat squawkers. We have millions of illegal aliens who leech off of the taxpayers, while demanding we learn their language and cater to their needs. Why would anyone value citizenship in a country that doesn’t value their citizens?

Facebook co-founder, Eduardo Saverin renounced his American citizenship before his company announced its planned initial public offering. He did this in order to evade paying capital gains taxes. And guess where he plans on moving to: Singapore. That’s right. He would rather move to a country that canes people for petty crimes than stay in the United States. American citizenship isn’t what it used to be. But you’d think it would be better than a country who canes people. Here is a dissident describing a caning experience:

Singapore's laws today permit the state to beat you the prescribed number of strokes with a rattan cane, soaked previous night in brine or water to make it supple. Sentences for various offences, usually violent crimes (which includes even pickpocketing) but even minor ones like painting graffiti, carries this unimaginably brutal punishment, whose beating (caning) is in addition to the prison term the prisoner has to suffer.


The beater or the caner is a prison officer specially trained to beat people, the object being to inflict the maximum amount of pain on the prisoner. While strapped to a gurney, naked with his buttock exposed, the officer who carries out the torture, takes a couple of steps and swings his cane hard, very hard, with full force at the prisoners buttocks.


By reason of his training, the caning is so forceful and the velocity of the swing so great, that it is reported that on one beating alone, the cane digs deep into the flesh, and even pieces of bloodied flesh hang out. There is so much blood on the floor from these beatings that after one or 2 stokes, the beating is interrupted for the bloodied floor to be mopped and the blood removed, after which the beatings resume.


I think you get the picture. I don't wish to say more.



Say what you will about Singapore. At least they value citizenship. Here is what happened to an American who overstayed his visa:



Kamari Charlton was arrested on Sept 1 when he attempted to leave the city-state 169 days

after his 90-day social visit pass expired, his lawyer M. Ravi said.

Mr Charlton, who was born in the Bahamas and owns a construction company there, was in Singapore while his wife received medical care for pregnancy complications, Mr Ravi said. It was not clear why Mr Charlton and his wife chose Singapore for medical treatment.

Staying in Singapore for more than 90 days after the end of a visa is punishable with a maximum jail term of six months and at least three cane strokes.

The Attorney General’s office declined to comment on the case. A judge is to meet with lawyers from both sides in a pretrial conference on Friday.

If found guilty, Mr Charlton would be the first American citizen caned in Singapore since 1994, when teenager Michael Fay was punished for vandalism.

Let the caning begin! You can’t say Singapore doesn’t value their citizenship. I wonder what would happen if we implemented their policies. I bet there would be a line stretching from Mexico all the way to Wyoming.

Instead, we have politicians like Sen. Chuck Schumer who are more interested in fleecing the likes of an Eduardo Saverin rather than keeping them as citizens. Here is a genius solution to the ex-patriot problem:

At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes.”

The senators will call Saverin’s move an “outrage” and will outline their plan to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship.

The plan would bar individuals like Saverin from ever reentering the United States again.


Nice solution Sen. Chuck E. Schumer: Super Genius. Soon, he will advocate building the equivalent of a Berlin Wall around the country, so as to keep the producers from escaping.



Friday, February 10, 2012