Danny Schechter - ColdType

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xxix against the walls of exclusion and indifference with a new film version of Plunder focused on the crisis as a crime story – and this book that makes the argument with more detail. It is all based on my interviews with insiders and outsiders alike. I am mindful of Albert Einstein’s admonition that my colleague Sharon Kayser, reminded me of: “insanity is doing the same thing over and over, and expecting a different result.” She applies it to our government which seems to think it can solve all economic problems by throwing money at them. These issues must be pursued by investigators with more resources than I can summon. We need to hear from more whistle blowers among those with insider experience in this irresponsible industry. We will update our progress as this probe continues online at newsdissector.com/plunder. Your comments, documents and insider tips are always welcome. Write dissector@mediachannel.org. ------------------------- My deep appreciation for their support goes out to my colleagues. In this case, Sharon Kayser who writes about finance, Tobi Kanter who copy- and line-edited the manuscript with additional help from Cherie Welch, and to Ray Nowsielski who produced the film with me on which this book is based. Also, my gratitude to the Globalvision team, Rory O’Connor, Eric Forman, David Degraw, Cherie Welch, Ryan Bennett, Steven Grail, Jessica Hyndman, Iris Chung, Herb Brooks, Sean Inonye, Shane O’Neill and Lexy Scheen who helped my quixotic struggle to turn an idea into a film without the funding I needed and support hoped for. Hopefully, this book will inspire readers to see the film and film viewers to get more background on the issues it addresses.
xxx Special thanks to <strong>ColdType</strong>.net’s skilled and patient editor, Tony Sutton, who has put up with and facilitated earlier projects, and has been willing to do so again by turning this manuscript into a presentable and readable e-book. I am not sure yet if another publisher will embrace it. – October 15, 2009
Page 1 and 2: “[This] may well turn out to be g
Page 4 and 5: Comments on The Crime of Our Time
Page 6: “Danny ranges wide over the polit
Page 9 and 10: THE CRIME OF OUR TIME WaS the econo
Page 12 and 13: Contents Preface By Larry Beinhart,
Page 14 and 15: PrefaCe By Larry Beinhart Dear Pros
Page 16 and 17: Boesky accepted a plea bargain. Thr
Page 18 and 19: MUsICaL PrefaCe/ soUnD traCK Plunde
Page 20: “Denial is the refusal to acknowl
Page 23 and 24: xx lies losing their homes. After a
Page 25 and 26: xxii analysis. There may be journo-
Page 27 and 28: xxiv “The investigation is the la
Page 29 and 30: xxvi then so clearly an economic bo
Page 31: xxviii I was well aware of all the
Page 35 and 36: xxxii offs have taken a heavy toll
Page 37 and 38: xxxiv of failures were cited - a fa
Page 39 and 40: xxxvi borrowers would not be able t
Page 41 and 42: xxxviii any illusion that public or
Page 43 and 44: xl eclipses the S&L debacle in term
Page 45 and 46: xlii The requirement of a liquid fi
Page 47 and 48: xliv • This environment was enabl
Page 49 and 50: xlvi fundraiser, “This is an impr
Page 51 and 52: xlviii But there were many who saw
Page 53 and 54: l Commenting in the Atlantic magazi
Page 55 and 56: lii white-collar criminals build ar
Page 57 and 58: liv wrong doers are to be brought t
Page 60 and 61: CHAPTER 1 THE MADOFF MOMENT BEFORE:
Page 62 and 63: the SEC’s Division of Enforcement
Page 64 and 65: sands of clients had $65 billion. B
Page 66 and 67: ‘How am I supposed to find the se
Page 68 and 69: Noting that “for decades, Mrs. Ma
Page 70 and 71: 11 And what about the victims? What
Page 72 and 73: 13 kerage called Cohmad) was a “p
Page 74 and 75: 15 In early September 2009, the SEC
Page 76 and 77: in which we took them, along with h
Page 78 and 79: 19 These suggestions may or may not
Page 80 and 81: 21 ber #3 was Norman Schmidt who ra
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23 in this case, I would suspect th
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violent and physical crimes. If som
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about them, namely investigations a
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30 Times’ Gillian Tett worries th
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32 Over 730,000 counts of suspected
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34 didn’t think that they, how co
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36 So there you have it - the same
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38 The victims of corporate crimina
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40 attracted a slew of illustrious
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42 use the “borrowed” money to
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44 inside deals, require less artis
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46 “Because we measure the effect
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48 White House is not going to be t
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50 it; so they set it up, not as a
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CHAPTER 6 wHO sHOulD bE prOsEcuTED?
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ecause of a failure of a number of
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state, in the grip of the early-Rea
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CHAPTER 7 iNVEsTigATiNg FiNANciAl c
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estimate the strength of hostile el
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former executives running the feder
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As readers know, I have stated many
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CHAPTER 8 cOuNT 1: prEDATOrY subpri
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I interviewed him at length. He is
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In the November 2006 study we expla
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They write: 73 Those who are allege
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75 fact, mechanically more interest
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General Andrew Cuomo labels as a sc
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79 It is hard not to feel that her
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81 Research Service Report in Augus
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84 a little piece of the layer of a
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86 A former Vice President of Stand
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88 sion in which he examined one ho
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CHAPTER 11 cOuNT TwO: wAll sTrEET c
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93 tion, vast resources were transf
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Flanders then asked Black to bring
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CHAPTER 12 COUNT THREE: THE INSURER
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AIG’s later role in escalating th
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101 BILL MOYERS: Is it possible tha
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103 you might have seen an opportun
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105 not a question most media outle
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108 eling but there was no discussi
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110 scamming them - and there is tr
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112 earnings were being created. Th
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114 out at his former colleagues du
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116 There is an unfortunate dialect
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118 advertising money sloshing arou
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120 It was startling to watch a Fox
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122 I pressed Starkman on whether t
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CHAPTER 15 THE BEAR STEARNS “BLEE
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as collateral to obtain overnight l
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129 DS: Around 11 am they watch the
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131 was financing and forcing the b
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133 hearing about a mortgage being
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135 Bamber replied, “Absolutely,
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137 www.huffingtonpost.com/ellen-br
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STEWART: But isn’t that financial
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142 this was a turning point in the
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144 the credit-market collapse that
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146 Shock Doctrine, in which a majo
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148 Doctor Housing Bubble, Lehman B
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150 management of internal risk and
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152 In the aftermath of his company
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154 the price of oil kept rising sh
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156 The government has machinery in
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158 The reports on it are sketchy,
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160 system. And while there is some
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162 tronically printed cash and buy
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164 this is where all the money is
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166 “Bernanke is being praised fo
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CHAPTER 18 THE TESTOSTERONE FACTOR
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171 prostitutes exposed in each win
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173 “Sexualize?” I asked him, h
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175 There was another cultural phen
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178 non-governmental think tanks re
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180 $5 BILLION IN POLITICAL CONTRIB
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182 ing the post of Treasury Secret
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184 AP explained. “The report sai
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186 In Obama’s speeches across th
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188 financial system because if you
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190 ing at a snail’s pace.) Johns
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192 parency for derivatives as a re
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194 structure of the economy itself
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196 predators are not getting away
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198 current big finance) vs. centri
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200 tions of power still associate
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202 all trapped inside the bubble a
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204 officials who knowingly misled
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206 The chances of a just outcome a
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208 Wall Street’s behavior may be
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210 are not ones we can count on. W
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212 Schechter’s professional jour
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214 1999 A Hero for All: Nelson Man
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From the Author of PLUNDER, WHEN NE
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Danny Schechter - ColdType

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