Kodak Shifts Into Drug Production With Help of a $765 Million U.S. Loan - WSJ archive.is/7CEKg
Recipes for creating cash have been curated & handed down from one generation to the next. This marks the upward arc of American white collar crime - every generation plays it better.
Recipe #1 - procure loans versus inventory that doesn’t exist.
Recipe #2 - use corporate balance sheet to procure assets for personal use, then encumber those same assets to create personal cash. The John Rigas 2 step. He learned it from the Crazy Eddie play.
Recipe #3 - charm the US Government into printing the money for you.
Meet Clark Clifford, the Greek God of White Collar Money Getting.
How’d he do it? 1st step was Mr. Clifford formed a bank, BCCI. 2nd step was BCCI used the World Bank as a money mule.
In short, Clifford saw an opportunity to harvest money without messing around inside appropriations from Congress to agencies. That’s very difficult to do. But @WorldBank isn’t under the thumb of Congressional oversight. A door opened. ⬇️
First to go to harvest for the fruits of this BUILD Act structure was Ivanka Trump.
The BUILD Act was signed & the #WGDP initiative was born with $350mm in funds Congress appropriated to 7 federal agencies reprogrammed by the stroke of daddy’s Sharpie.
WGDP is a bald faced fraud. In its 3rd year it has hauled in $350mm of funds reprogrammed (a polite word for seized) each year from federal agencies. No financial statements, no grant level disclosures. Identifies of private investors/firms remain hidden.
Give them some credit. Before Javanka DC was just Hollywood for ugly people. We’ve been wildly entertained.
But we also have them to thank for laying a foundation for the Biden admin to get & stay animated to deconstruct the entire apparatus of American white collar crime. /end
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Seriously, wouldn’t it be nice if one of the nominees for POTUS looked like Brad Pitt, was effusively charming, performed remarkable feats of strength before us & had Rain Man math skills?
And a pony ride for everyone too?
But no.
🇺🇸 economy, A+
Biden’s team, A+
So stop it.
If I still had humor about it, I’d go on here about how silly it is that men & women of a certain age see Fabio with a scratch golf game before them at Brother Donny’s Revival Tent Circus.
But it isn’t funny anymore. Trump is a bottom tier vulgarian, a con artist & a sociopath.
And yes, yes, yes, yes, yes to this.
Anyone who has served 3+ years as a VP is T+1 moment prepared for the job.
Biden, Cheney, Gore, Quayle, GHB & Mondale each were.
And Gerald Ford <2yrs in was too & golly, what happened there? Ford did fine. He was capable.
Next on this short 🧵 is a GIFT ARTICLE link to full story.
Read this. What is this communicating?
Hints: not what @maggieNYT access PR masquerading as journalism wants to communicate…It’s also not what @jonathanvswan attempted to frame as fair or balanced reporting either.
Here’s the gift article link.
If what you read in that two paragraph slice & then again in regards to Boy Plunder’s zero degrees of separation deals w/ governments in Israel, Serbia & in Albania is *that’s a confederate*, you win.
Just a guess, but $175mm in liquidity above the $90+mm he posted for the Carroll bond is still a lot.
But $175mm well in range where a corrupt bargain can be had.
Not sure if Jeff Yass would pay $175mm for joint custody of Donny’s balls…but it’s 100% certain someone will.
Another factor is the appellate court won’t even hear this until Fall 2024, seems reasonable it stretches into 2025.
And how, exactly, would NY AG seize the assets of a POTUS if Armageddon happens & this asshole is elected? He’d use armed Secret Service to guard the fortresses.
So I’ve known Jeff Yass sorta well via a close friend who was one of the SIG original six founding partners.
They were all whip smart professional gamblers.
How would Yass price it? Risk on $175mm is 0 if Trump wins. Return is billions of $ in tax shields. Make the bet.
could be exotic approaches to “shorting against the box” such as a stealth PIPE issuance of DJT stock next week (as @quantian1 suggests as well)
Here’s the problem: the stock has very little institutional ownership in the float & the borrow to short shares is scarce & expensive.
@quantian1 Another problem w/ a PIPE (Private Investment in Public Equities) is those too are unregistered shares until or if a Form S-4 is approved by the SEC.
That usually takes 60-120 days before you have fungible shs to sell.
There is 1 way around this, but it’s hairy & complicated.
Another reminder you’re not voting for one old guy vs. other old guy. Forget ageism for this reason:
Presidents appoint or staff the ~4,500 highest positions in the federal government. A high functioning team is critical.
Today I ring a SCOTUS ⏰ bell. Consider next vacancies…
Inauguration Day, Jan 20, 2025 Clarence Thomas will be 76, Samuel Alito will be 74.
Biden wins, 100% they stay put. Trump wins? Better than fair odds they both retire to ensure an enduring SCOTUS conservative supermajority.
THAT’D MEAN A CAREER CRIMINAL WOULD APPOINT 2 MORE.
Stop everything for a moment today & really think on that point.
Trump will:
1. Acquit himself immediately when office by pardoning himself. 2. Appoint 2 young & more politically vitriolic versions of Thomas & Alito from the Leonard Leo incubator lab.
So I looked this up b/c I’m a glutton for all things offshore dodgy…sometimes I can learn something from it. Not this time.
This ⬇️ is technically incorrect. VR used a shell corp structure popularized in the early 1990s by the first Reg D investors in Ireland via offshore HFs.
VR wasn’t an entrepreneur, he’s not a founder of a single entity outside of the shell corp.
He *rolled down* distressed companies into the shell corp via reverse merger structures, then funded same via preferred equity or convertible bond private placements under Regulation D.
These colloquially became known as *death spiral converts* b/c structures precluded cash make whole provisos & had *lookback options* which allowed the investors to cherry pick hyper-dilutive exits on any tiny bounce in stocks of desperately weak companies.