McCain, Money Matters

In working with these presidential candidates, one thing has become very clear, there is big money afoot, for all of them. No matter who wins, favors will be owed and the debts will have to be paid, one way or the other.

You will notice some of the same names here that you have seen for Senator Obama and Senator Clinton. Yup, these big buck-a-roos are hedging their bets. And there are some new faces too. I’m going to do a follow-up so that everything becomes crystal clear.

I got the names and figures from Open Secrets org Without them I don’t know where you would go for this. I’m grateful for their site. I looked up most of the companies myself. Some companies were easier than others to ferret out information from, but it is all out there. So, here goes:

Total Receipts: $53,717,085

Total Spent: $48,518,664

Cash on Hand: $5,198,421

Debts: $5,535,452

Date of last report: January 31, 2008
Totals may include compliance fund receipts

Blank Rome LLP $188,200

Blank Rome LLP has over 425 attorneys who are organized in the following practices: public companies & capital formation, emerging & closely held companies, business tax, customs and international trade private clients, health law, employment, benefits & labor, intellectual property & technology, maritime, matrimonial, real estate, public finance, business restructuring & bankruptcy, financial services, government relations, and litigation including: corporate, commercial, insurance, intellectual property, mass torts and products liability. The firm’s offices are located in Pennsylvania; New York; New Jersey; Delaware; Maryland; Ohio; Washington, D.C.; and Florida

They are also affiliated with Blank Rome Government Relations LLC, a Washington-based government relations firm that will provide clients with advocacy and extensive experience in local, state and federal government. Members of Blank Rome Government Relations LLC include David Girard-diCarlo, J. Caleb Boggs III, Carl Buchholz, Ashley Davis, James Drewry, T. Michael Dyer, Mark Holman, David Norcross, Topper Ray, Duncan Smith, Jennifer Southwick and C.J. Zane.” Additionally, Mark A. Holman, former deputy assistant to the President for homeland security, along with fellow homeland security official Carl Buchholz, rejoined Blank Rome after a yearlong hiatus working with Secretary Ridge to develop the national strategy for the U.S. Department of Homeland Security.

$177,475 Merrill Lynch

Merrill Lynch is one of the nation’s leading investment banks, providing its clients with everything from mutual funds and insurance to stock brokerage and investment consulting services. Over the years, the company has been a dominant voice in efforts to deregulate the financial services industry. Lately, however, the company has been putting out fires in its own backyard, after two major clients—Enron and ImClone—fell prey to corporate finance scandals. Congressional investigators have launched an investigation into the two companies’ troubles.

Citigroup Inc $161,000

Citigroup is the world’s second largest financial services firm, with $1 trillion in assets. One of the company’s subsidiaries is brokerage firm Salomon Smith Barney, which has been plagued with lawsuits and government investigations into its financing of bankrupt Enron and ailing WorldCom. In 1998, Citigroup’s lobbying helped repeal a federal law that prevented banks from getting into other businesses, allowing the company to acquire an insurance firm. Citigroup continues to lobby on a number of issues, including financial privacy, bankruptcy reform and terrorism reinsurance.

Greenberg Traurig LLP $150,987

Greenberg Traurig LLP is an international law firm with approximately 1,700 attorneys and governmental professionals in 29 locations in the United States, Europe and Asia. Its headquarters are in Miami, Florida. Its presence in Europe is supplemented by strategic alliances with Olswang (offices in London, United Kingdom and Brussels, Belgium), and Studio Santa Maria (offices in Milan, Italy and Rome, Italy). In Tokyo, Japan the firm maintains both its own office and a strategic alliance with Hayabusa Kokusai Law Offices. Greenberg Traurig is the seventh largest American law firm based on number of lawyers.
Greenberg Traurig is managed by its Chief Executive Officer, Cesar L. Alvarez, and its Chairman and Founder, Larry J. Hoffman, from its Miami, Florida office, the firm’s historic base of operations and administrative headquarters. As of 2006, it was the 16th largest law firm in the world by revenue.

Greenberg Traurig LLP is an international law firm with approximately 1,700 attorneys and governmental professionals in 29 locations in the United States, Europe and Asia. Its headquarters are in Miami, Florida. Its presence in Europe is supplemented by strategic alliances with Olswang (offices in London, United Kingdom and Brussels, Belgium), and Studio Santa Maria (offices in Milan, Italy and Rome, Italy). In Tokyo, Japan the firm maintains both its own office and a strategic alliance with Hayabusa Kokusai Law Offices. Greenberg Traurig is the seventh largest American law firm based on number of lawyers.
Greenberg Traurig is managed by its Chief Executive Officer, Cesar L. Alvarez, and its Chairman and Founder, Larry J. Hoffman, from its Miami, Florida office, the firm’s historic base of operations and administrative headquarters. As of 2006, it was the 16th largest law firm in the world by revenue.

Goldman Sachs $104,950

Goldman Sachs is one of Wall Street’s most prestigious investment banks. Like others in the securities industry, it advises and invests in nearly every industry affected by federal legislation. The firm closely monitors issues including economic policy, trade and nearly all legislation that governs the financial sector. It has been a major proponent of privatizing Social Security as well as legislation that would essentially deregulate the investment banking/securities industry. In August 2002, following months of corporate scandals, congressional investigators launched a probe into whether stock analysts at Goldman Sachs issued biased investment advice in order to protect corporate clients. The firm tends to give most of its money to Democrats. Goldman Sachs’ former chief executive, Jon Corzine, served in the U.S. Senate as a Democrat from New Jersey. He’s now the state’s governor.

IDT Corp $84,850

n 1990, IDT set out to shake up the telecommunications industry. Meet some key members of our management team who have helped us do just that. NYSE: IDT, IDT.C IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries. Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the company’s Spectrum subsidiary holds its spectrum license assets.

IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the company also provides a range of voice over Internet protocol (VoIP) communications services.

IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, receivables portfolio management and collection, ethnic food distribution, brochure distribution, and other initiatives.

Univision Communications $82,000

Univision Communications Inc.. The Group’s principal activity is to broadcast Spanish-language television programs in the United States. The Group operates in four segments: Television Broadcasting, Radio, Music Recording and Publishing and Internet. The Television Broadcasting primarily consists the Univision and TeleFutura networks, the Group’s owned and operated television stations and the Galavision cable television network. In addition, the television network and station marketing sales departments utilize research, including both ratings and demographic information, to negotiate sales contracts. The Radio network and station marketing operates through three groups: network sales, national spot sales and local sales. The Music Recording and Publishing business records and publishes the music of developing and established Latin artists. On October 26, 2006, the Company acquired the remaining 50% of Disa Records, S.A., its Mexico-based music and recording publishing company. Television accounted for 74% of 2006 revenues; Radio, 17%; Music, 7% and Internet, 2%

Credit Suisse Group $81,700

Credit Suisse First Boston is one of the world’s largest securities firms. It advises and invests in virtually every industry affected by federal legislation, including oil and gas, telecommunications, electric utilities and media companies. The company also has a major stake in the future of the stock market through its rapidly expanding online brokerage business. Credit Suisse has been one of the leading proponents of privatizing Social Security, as well as deregulating the securities industry, a move that would allow investment firms to offer up services usually available only at banks. In August 2002, after a succession of corporate scandals rocked Wall Street and Washington, congressional investigators launched a probe into alleged conflicts of interest in the firm’s dealings with Enron and Global Crossing.

Bank of New York Mellon $79,300

Established in 2007 from the merger of Mellon Financial Corporation and The Bank of New York Company, Inc., The Bank of New York Mellon is a leading asset management and securities services company, uniquely focused to help clients manage and move their financial assets and succeed in the rapidly changing global marketplace. Headquartered in New York, The Bank of New York Mellon has more than $20 trillion in assets under custody or administration and more than $1.1 trillion under management.

Bridgewater Assoc $74,400

Bridgewater Associates is a global investment manager that manages approximately $160 billion in assets. Approximately $32 billion is invested in the firm’s hedge fund strategy, Pure Alpha, making it one of the largest hedge funds in the world. Bridgewater manages portfolios for more than 300 clients from the United States and 19 other countries. These clients are mainly pension funds, endowments, foundations, foreign governments, and central banks. Bridgewater is located in Westport, Connecticut and has approximately 500 employees.

Now, I just have to stop for a moment here and make sure everyone understands this investor… Remember the Federal Reserve Bank? that prints out all our money, sets the interest rates and such? Remember the one that has something to say about Mortgage Rates? Here is the definition of what this “investor” is a part of…. Oh, and have you seen Zeitgeist, the movie?

So here is the definition of a “Central Bank.” And when you think about the ramifications here, I hope you start to understand just who the puppets are. I mean, don’t you jump up and down for these candidates? Don’t you jump through their hoops? Well, who do you think is making them jump? Who is pulling their strings? Read on………..

Definition of Central Bank: Wikipedia:
The central bank, reserve bank, or monetary authority, is the entity responsible for the monetary policy of a country or of a group of member states. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a “bailout” lender of last resort to the banking sector during times of financial crisis (private banks often being integral to the national financial system). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently.

Most richer countries today have an “independent” central bank— that is, one which operates under rules designed to prevent political interference. Examples include the Bank of England, the Banco Central de Chile, the Reserve Bank of Australia, the Reserve Bank of India, the European Central Bank, the Bank of Canada, the Banco de la República de Colombia, Central Bank of Norway and the U.S. Federal Reserve. Some central banks are publicly-owned, and others are, in theory, privately-owned. In practice, there is little difference between public and private ownership, since in the latter case almost all profits of the bank are paid to the government as tax.

Functions of a central bank (not all functions are carried out by all banks):
· implementation of monetary policy
· controls the nation’s entire money supply
· the Government’s banker and the bankers’ bank (“Lender of Last Resort”)
· manages the country’s foreign exchange and gold reserves and the Government’s stock register;
· regulation and supervision of the banking industry:
· setting the official interest rate – used to manage both inflation and the country’s exchange rate – and ensuring that this rate takes effect via a variety of policy mechanisms

Central banks implement a country’s chosen monetary policy. At the most basic level, this involves establishing what form of currency the country may have, whether a fiat currency, gold-backed currency (disallowed for countries with membership of the IMF), currency board or a currency union. When a country has its own national currency, this involves the issue of some form of standardized currency, which is essentially a form of promissory note: a promise to exchange the note for “money” under certain circumstances. Historically, this was often a promise to exchange the money for precious metals in some fixed amount. Now, when many currencies are fiat money, the “promise to pay” consists of nothing more than a promise to pay the same sum in the same currency.

For the full definition, please click HERE:

JP Morgan Chase & Co $74,200

JP Morgan Chase & Co is one of the nation’s leading financial services firms, offering commercial and consumer banking and credit services, securities brokering and financial consulting. Through its subsidiary Chase Bank, the company is one of the top consumer credit card issuers in the country. As expected, the firm has lobbied heavily on legislation that would affect the nation’s financial industry, including bankruptcy reform and banking deregulation. In 2002, federal investigators launched a probe into the firm’s relationship with former energy giant Enron. Prior to the energy firm’s collapse, JP Morgan Chase had been one of the company’s biggest financial backers.

MGM Mirage $70,400

MGM MIRAGE (NYSE: MGM), one of the world’s leading and most respected development companies with significant holdings in gaming, hospitality and entertainment, owns and operates 17 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau. MGM MIRAGE is developing major casino and non-casino resorts, separately and with partners in Las Vegas, Atlantic City, the People’s Republic of China and Abu Dhabi, U.A.E. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association’s Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs.

Lehman Brothers $70,150

Lehman Brothers, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world.

Blackstone Group $66,250
Our corporate private equity operation, established in 1987, is a global business with 98 investment professionals and offices in New York, London, Mumbai and Hong Kong. We are a world leader in private equity investing, having managed five general private equity funds as well as one specialized fund focusing on communications-related investments. From an operation focused in our early years on consummating leveraged buyout acquisitions of U.S.-based companies, we have grown into a business pursuing transactions throughout the world and executing not only typical leveraged buyout acquisitions of seasoned companies but also transactions involving start-up businesses in established industries, turnarounds, minority investments, corporate partnerships and industry consolidations, in all cases in strictly friendly transactions supported by the subject company’s board of directors. In total, our corporate private equity operation has raised approximately $36 billion in capital since 1987. As of September 30, 2007, our corporate private equity operation had approximately $32.7 billion of assets under management.
From 1987 through September 30, 2007, our corporate private equity funds have invested in approximately 121 companies in a variety of industries and geographies in pursuit of their investment objectives. The total enterprise value of all transactions effected by our corporate private equity operations through September 30, 2007 was over $228 billion. As of September 30, 2007, our corporate private equity funds had significant equity investments in 44 different companies.

Irvine Co Apartment Community $66,100

The Irvine Company is a 140-year-old privately held real estate investment company best known for the balanced, sustainable communities it continues to plan and create on The Irvine Ranch® in Orange County, California. It also is known for its portfolio of high-quality investment properties – office, retail and apartment – it owns in San Diego, Orange County, West Los Angeles, and the Silicon Valley. The company traces its roots to the 1860s with the assembly of the ranch from Mexican and Spanish land grants. The Irvine Company was incorporated in 1894.

Our company consists of community builders, master planners, asset managers and real estate investors who are committed to providing an all-inclusive master plan for the Irvine Ranch. We plan and create amazing communities that include a variety of housing, job and retail centers, recreation, schools, parks, trails and permanently preserved pieces of beautiful land.

Wachovia Corp $64,650

Wachovia’s watching over you! Wachovia Corporation (NYSE:WB) is a $23.6 billion company based in Charlotte, NC. It provides commercial and retail banking and trust services along with financial services such as mortgage banking, investment banking, home equity and asset based lending, leasing, and international and securities brokerage services. It has four segments General Bank, Capital Management, Wealth Management, the Corporate and Investment Bank. The company employs about 97,000 people and has a presence in 12 states in the US and in other countries.

Morgan Stanley $63,851

Morgan Stanley is one of the world’s top investment banks, offering its clients everything from stock portfolio management to credit services. Like others in the securities industry, it invests in and advises virtually every industry affected by federal legislation. The company, which splits its contributions evenly between Democrats and Republicans, has been a major proponent of privatizing Social Security. Morgan Stanley also has lobbied in favor of proposals to deregulate the securities industry, so that investment firms can further extend their reach into financial services.

Pinnacle West Capital $61,700

Business Description
Pinnacle West Capital Corporation. The Group’s principal activities are to provide retail or wholesale electric services through its subsidiaries. The Group operates through three business segments: Regulated electricity, Marketing and trading and Real estate. Regulated electricity consists of regulated retail and wholesale electricity businesses and electricity transmission, distribution and generation. Marketing and Trading segment consists of competitive business activities, including wholesale marketing and trading and APS Energy Services and commodity-related energy services. Real estate segment consists of SunCor’s real estate development and investment activities.

Cisco Systems $60,650

Cisco Systems, Inc. (NASDAQ: CSCO, SEHK: 4333) is a multinational corporation with 61,000 employees and annual revenue of US $35 billion as of 2007. Headquartered in San Jose, California, it designs and sells networking and communications technology and services under five brands, namely Cisco, Linksys, WebEx, IronPort, and Scientific Atlanta. Initially, Cisco manufactured only enterprise multi-protocol routers but gradually diversified its product offering to move into the home user market with the purchase of Linksys while also expanding its offering for corporate customers.

UBS AG $56,465

UBS AG and its subsidiaries provide a range of financial products and services worldwide. The company’s wealth management and business banking operations include the provision of a range of products and services for wealthy clients worldwide. These services range from asset management to estate planning and from corporate finance advice to art banking. Its business banking operations comprise providing a set of banking and securities services for individual and corporate clients in Switzerland. UBS asset management business includes the provision of traditional and alternative, and real estate investment solutions to private, institutional, and corporate clients worldwide. Its investment banking operations include offering a range of products and services to corporate and institutional clients, governments, financial intermediaries, and alternative asset managers. These services include advice and execution, as well as working with financial sponsors and hedge funds, and serving private investors through the company’s wealth management business, as well as through other private banks; selling, trading, financing, and clearing cash equity and equity-linked products, as well as structuring, originating, and distributing new equity and equity-linked issues; and providing research on companies, industry sectors, and geographical markets. The company’s investment banking operations also comprise fixed income, rates, and currencies business that delivers a range of products and solutions to corporate and institutional clients worldwide; and providing a range of advisory and execution services to corporations, financial sponsors, and hedge funds in various aspects of a transaction, including negotiations, structuring, coordination of due diligence processes, company valuations, and drafting of internal and external communications materials. In addition, UBS offers retail banking services in Switzerland. The company was founded in 1862 and is based in Zurich, Switzerland.

Now, I know you had to recognize some of those names as being seen a few times before this. But if not, if nothing rings a bell, well I do have a few more candidates to do. Maybe by then some of this will be more familiar. Maybe it is just that I keep seeing them, or them affiliated with or joined to someone else.

For instance today I read this:

Citigroup, Wachovia face hedge fund lawsuits: report
Tue Mar 4, 2008 11:19am EST

NEW YORK (Reuters) – Citigroup Inc (C.N: Quote, Profile, Research) and Wachovia Corp (WB.N: Quote, Profile, Research) are facing separate lawsuits filed in a U.S. Federal court in New York by a small fund, the Wall Street Journal reported on Tuesday.
The suit claims that the banks each improperly required the fund to pay out more money from insurance derivatives contracts known as credit default swaps amid a decline in the value of the mortgage-backed bonds, said the Journal.

Both suits were filed last month by VCG Special Opportunities Master Fund Ltd, a Florida hedge fund with $58 million in capital.
Citigroup and Wachovia were not immediately available for comment. (Reporting by Yinka Adegoke; Editing by Quentin Bryar)

Telecommunications, heavy hitters in the banking industry, and now we get the internet and media involved.

But something really interesting on the OpenSecrets.org site, was listed there also the personal financial information on these candidates. Yup, you should take a look. It is every bit as interesting.

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~ by justmytruth on March 5, 2008.

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