- cypherpunks - lists.cpunks.org

Campus Protests Over Gaza Open a Pandora’s Box for Wall Street Megabanks that Underwrote $8 Billion of Israel’s Bonds in March
by Gunnar Larson 06 May '24

06 May '24

https://wallstreetonparade.com/2024/05/campus-protests-over-gaza-open-a-pan… By Pam Martens and Russ Martens: May 6, 2024 ~ Goldman Sachs Protester (Thumbnail) Protestor Wears a Swamp Creature Costume Outside Goldman Sachs Headquarters, January 17, 2017 The pro-Palestinian protestors on college and university campuses across the U.S. have opened a pandora’s box for the Wall Street megabanks that underwrite billions of dollars in Israel bonds – including $8 billion in March of this year – at a time when Israeli Prime Minister Benjamin Netanyahu’s conduct of the war in Gaza has come under broad condemnation. U.S. Senator Bernie Sanders of Vermont, who is Jewish, described Netanyahu’s war operation as follows on the April 28 edition of CNN’s State of the Union: “Right now, what Netanyahu’s right-wing, extremist and racist government is doing is unprecedented in the modern history of warfare. They have killed in the last six-and-a-half months 33,000 Palestinians, wounded 77,000, two-thirds of whom are women and children. “They have destroyed over 60 percent of the housing. They have destroyed the health care system. They have destroyed the infrastructure, no electricity, very little water. And, right now, we are looking at the possibility of mass starvation and famine in Gaza. “When you make those charges, that is not antisemitic. That is a reality. So, our job is to condemn Hamas, a terrorist organization that started this war, condemn in every form antisemitism, Islamophobia, and other forms of bigotry. But we do have to pay attention to the disastrous and unprecedented humanitarian disaster taking place in Gaza right now.” On February 12 of this year, President Joe Biden warned Israel against its plan to invade Rafah, a city in the southern portion of Gaza. Israel had previously ordered civilians in Gaza to uproot their families and relocate there for safety. But less than a month after President Biden issued his warning, four megabanks on Wall Street underwrote $8 billion in bonds for Israel. Those banks are: BNP Paribas, Bank of America, Deutsche Bank, and Goldman Sachs. Citigroup’s Citibank is the fiscal agent, paying agent, transfer agent and registrar on the bonds. This morning, Israel’s military has issued evacuation orders for Rafah, suggesting an attack there may be imminent. NPR reports the following this morning: “Since late March, Israeli air strikes have hit Rafah almost daily, killing nearly 300 Palestinians, most of them women and children, according to hospital records and the Palestinian Center for Human Rights.” The megabanks on Wall Street are not the only facilitators of funding to Israel. According to a recent SEC filing by Israel, the U.S. has contractually pledged the following to Israel: “Israel receives military assistance from the United States and has received economic assistance from the United States averaging approximately $3 billion per year since 1987, including by way of loan guarantees. U.S. foreign assistance to Israel has reduced by way of a phase-out of the U.S. Economic Support Fund, however, the level of its Foreign Military Financing assistance to Israel has increased. In 2016, the United States and Israel reached an agreement on a package of at least $38 billion in U.S. military aid over the course of 10 years ($3.8 billion per year).” The same SEC document explains the U.S. loan guarantees on certain Israel bonds as follows: “In 1992, the United States approved up to $10 billion in loan guarantees during U.S. fiscal years 1993 through 1998 to help Israel absorb the influx of immigrants over this period. Israel completed its financings under this program in January 1998. In April 2003, the United States approved up to $9 billion in additional loan guarantees for Israel, and the loan guarantee program has been extended over the years and in 2012, the United States and Israel entered into an agreement establishing a new framework for administering its loan guarantee program provides Israel with access to up to approximately $3.8 billion in future loan guarantees as part of the initial $9 billion commitment. Most recently in January 2023, the United States extended the program until September 2028. The loan guarantee program aims to support Israel’s comprehensive economic program and to create conditions for high and sustainable growth.” In addition, the foreign aid package that was passed by the U.S. Senate and signed by President Biden on April 24, includes $15 billion in military assistance to Israel and $9 billion in humanitarian relief for Gazans. The lion’s share of the $95 billion package, $61 billion, was earmarked for Ukraine, which has been under attack by Russia since February of 2022. Supplementing bond underwriting by megabanks on Wall Street, Israel owns its own broker-dealer in the United States – the Development Corporation for Israel, also known simply as Israel Bonds. Various iterations of the corporation operate in Germany, England, Canada and elsewhere. According to its website, global sales of Israel Bonds have exceeded $1 billion in each of the past four years. Numerous supporters of Israel have raised the alarm that the way Netanyahu is conducting the war in Gaza is doing irreparable harm to Israel’s reputation around the world. The fact that Israel needs the confidence of the capital markets in order to issue its sovereign debt securities might be a topic that President Biden and campus protestors need to emphasize in their pleas for a ceasefire.

1 0

Kwok's Ex-Chief Of Staff Pleads Out Before $1B Fraud Trial
by Gunnar Larson 06 May '24

06 May '24

Kwok's Ex-Chief Of Staff Pleads Out Before $1B Fraud Trial <https://www.law360.com/fintech/articles/1833383?nl_pk=d2b3e7ef-ab62-4a62-80…> By Rachel Scharf The former chief of staff to exiled Chinese billionaire Ho Wan Kwok pled guilty in Manhattan federal court on Friday to participating in a $1 billion investor fraud, less than three weeks before she was scheduled to go to trial alongside her erstwhile boss. Order attached | Read full article » <https://www.law360.com/fintech/articles/1833383?nl_pk=d2b3e7ef-ab62-4a62-80…> | Save to favorites » <https://www.law360.com/fintech/articles/1833383?nl_pk=d2b3e7ef-ab62-4a62-80…>

1 0

Sentencing Delayed For Ex-Fintech Exec In Crypto Case
by Gunnar Larson 06 May '24

06 May '24

Sentencing Delayed For Ex-Fintech Exec In Crypto Case <https://www.law360.com/fintech/articles/1830853?nl_pk=d2b3e7ef-ab62-4a62-80…> By Carolina Bolado Sentencing for the CEO of fintech company Hydrogen Technology Corp. was delayed Friday after a dispute over how to calculate the amount of money lost in the conspiracy to manipulate the market for Hydrogen's digital assets. 2 documents attached | Read full article » <https://www.law360.com/fintech/articles/1830853?nl_pk=d2b3e7ef-ab62-4a62-80…> | Save to favorites » <https://www.law360.com/fintech/articles/1830853?nl_pk=d2b3e7ef-ab62-4a62-80…>

1 0

Charities Can't Get 'Second Bite Of The Apple' Against PayPal
by Gunnar Larson 06 May '24

06 May '24

Charities Can't Get 'Second Bite Of The Apple' Against PayPal <https://www.law360.com/technology/articles/1833565?nl_pk=2bd720dd-746c-4744…> By Celeste Bott An Illinois federal judge on Friday trimmed a second lawsuit by charities challenging the way PayPal solicits and distributes charitable contributions, saying they can't get a "second bite of the apple" after their nearly identical claims were dismissed because they'd agreed to individually arbitrate disputes. Order attached | Read full article » <https://www.law360.com/technology/articles/1833565?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/1833565?nl_pk=2bd720dd-746c-4744…>

1 0

Samsung Seeks $6.7M In Fees After Beating $4B Patent Case
by Gunnar Larson 06 May '24

06 May '24

Samsung Seeks $6.7M In Fees After Beating $4B Patent Case <https://www.law360.com/technology/articles/1833657?nl_pk=2bd720dd-746c-4744…> By Henrik Nilsson Samsung asked U.S. District Judge Alan Albright to award it $6.7 million in attorneys' fees after beating a $4 billion infringement suit over two semiconductor patents, saying the patent holder's "exceptional misconduct" during the litigation warrants the requested award, according to a motion unsealed on Friday. 2 documents attached | Read full article » <https://www.law360.com/technology/articles/1833657?nl_pk=2bd720dd-746c-4744…> | Save to favorites » <https://www.law360.com/technology/articles/1833657?nl_pk=2bd720dd-746c-4744…>

1 0

Exxon Closes $60B Pioneer Purchase After FTC Agreement
by Gunnar Larson 06 May '24

06 May '24

Exxon Closes $60B Pioneer Purchase After FTC Agreement <https://www.law360.com/competition/articles/1832032?nl_pk=6416fd97-1dc4-4e0…> By Al Barbarino Exxon Mobil Corp. said Friday that it has closed its $60 billion acquisition of Pioneer Natural Resources, one day after the Federal Trade Commission gave the oil giant a conditional green light to move ahead with the deal. Read full article » <https://www.law360.com/competition/articles/1832032?nl_pk=6416fd97-1dc4-4e0…> | Save to favorites » <https://www.law360.com/competition/articles/1832032?nl_pk=6416fd97-1dc4-4e0…>

1 0

Publix Can't Send Questions To Ga. Justices In Opioid Suit
by Gunnar Larson 06 May '24

06 May '24

Publix Can't Send Questions To Ga. Justices In Opioid Suit <https://www.law360.com/health/articles/1833131?nl_pk=6422bbc2-a823-4be5-9a9…> By Peter McGuire A federal judge overseeing national opioid litigation has rejected Publix's bid to ask the Georgia Supreme Court "convoluted and confusing" questions about if the state's public nuisance law applied to allegations the supermarket chain overdistributed painkillers. Order attached | Read full article » <https://www.law360.com/health/articles/1833131?nl_pk=6422bbc2-a823-4be5-9a9…> | Save to favorites » <https://www.law360.com/health/articles/1833131?nl_pk=6422bbc2-a823-4be5-9a9…>

1 0

SEC Fines Trump Media's Audit Firm For 'Massive Fraud'
by Gunnar Larson 06 May '24

06 May '24

SEC Fines Trump Media's Audit Firm For 'Massive Fraud' <https://www.law360.com/mergersacquisitions/articles/1833312?nl_pk=a34c25b5-…> By Jessica Corso The U.S. Securities and Exchange Commission said on Friday that it has fined and permanently suspended the public accounting firm of former President Donald Trump's social media company for allegedly running a "sham auditing mill" by failing to meet industry standards in reviewing the financial statements of hundreds of clients. Order attached | Read full article » <https://www.law360.com/mergersacquisitions/articles/1833312?nl_pk=a34c25b5-…> | Save to favorites » <https://www.law360.com/mergersacquisitions/articles/1833312?nl_pk=a34c25b5-…>

1 0

Cash App's Parent Co. Can't Ditch Referral Text Suit
by Gunnar Larson 06 May '24

06 May '24

Cash App's Parent Co. Can't Ditch Referral Text Suit <https://www.law360.com/banking/articles/1833122?nl_pk=feb6bbba-7878-4d39-be…> By Sydney Price Block Inc., the parent company of mobile payment service Cash App, can't escape a suit alleging it bombarded cellphone users with "annoying and harassing spam texts," a Washington federal judge ruled, finding the plaintiff has alleged sufficient facts to support a plausible claim for relief under Washington's Consumer Electronic Mail Act. Order attached | Read full article » <https://www.law360.com/banking/articles/1833122?nl_pk=feb6bbba-7878-4d39-be…> | Save to favorites » <https://www.law360.com/banking/articles/1833122?nl_pk=feb6bbba-7878-4d39-be…>

1 0

Re: Your Freedom of Information Law (FOIL) Request FOIL-2024-097305-022021
by Gunnar Larson 06 May '24

06 May '24

Dear Idel Lendoff: NY-DFS has delayed answering if there are any Superintendent recusal records mentioned by New York Magazine several times. xNY.io - Bank.org today kindly petitions New York State Department of Financial Services' esteemed action against any worry of public corruption concerning recusal records of the current Superintendent. Given the history of NY-DFS Superintendent durability, especially given the previous NY-DFS Superintendent, it would seem that New York Magazine's mention of NY-DFS Superintendent recusals is evidently prudent for follow-up by xNY.io - Bank.org. Being clear, it was not xNY.io - Bank.org who first mentioned NY-DFS Superintendent recusals, it was New York Magazine. NY-DFS' latest response of delaying response of any recusal records until May 10, 2024 sparks further worry of public corruption (similar to that of Superintendent Lacewell). Simply, can NY-DFS answer if there are any Superintendent recusal records by 5:00pm Monday April 15, 2024? After Monday, we will need to confirm with New York Magazine if their reporting is correct. We cannot assume these recusal records away. Warm regards, Gunnar 2024-097305: 3/11/24: Dear Madam or Sir: On March 30, 2022 New York Magazine published a profile of NY-DFS Superintendent Adrienne Harris titled "Crypto’s Most Powerful Regulator Is Here Adrienne Harris, New York’s financial watchdog, has enormous sway over the industry’s future" ( https://nymag.com/intelligencer/2022/03/adrienne-harris-is-cryptos-most-pow…) The profile of Superintendent Harris quotes "... that she would recuse herself from any dealings with companies she has conflicts with." xNY.io - Bank.org seeks access to any and all records specific to Superintendent Harris' recusal(s) as of February 1, 2024. Thank you, Gunnar -- Gunnar Larson xNY.io | Bank.org MSc - Digital Currency MBA - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-917-580-8053 New York, New York 10001 -- Gunnar Larson xNY.io | Bank.org MSc - Digital Currency MBA - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-917-580-8053 New York, New York 10001 On Thu, Apr 11, 2024, 2:53 PM <Idel.Lendoff(a)dfs.ny.gov> wrote: > Good afternoon, > > Attached please find correspondence from the NYS Department of Financial > Services, pertaining to your FOIL request. > > > > Thank you. > > Tracking Number:FOIL-2024-097305-022021 >

1 9