Hillary Clinton’s emails show she shared classified and sensitive information about the situation in Greece around its bailout. At the same time, her son-in-law formed a hedge fund that placed bets about what would happen. This can hardly be only coincidence.
UNTIL 2002 STEVEN MNUCHIN WORKED 17 YEARS AT GOLDMAN SACHS EVENTUALLY AS EXECUTIVE PARTNER ALONG SIDE HANK PAULSON
HILLARY’S SON IN LAW MARC MEZVINKSY WORKED AT GOLDMAN SACHS BEGINNING IN 2000
2010 WEDDING OF CHELSEA AND MEZVINKSY WAS HELD AT GEORGE SOROS DAUGHTER’S HOME
SO IF THE “HEDGE FUND” LOST THIS MUCH HOW IS IT THAT THEY CONTINUE TO LIVE IN THEIR $10 MILLION APARTMENT — WHO LOST? OTHER INVESTORS BUT THEM?
Feb 3, 2015 … Despite having Goldman Sachs CEO Lloyd Blankfein as an investor and being Bill and Hillary Clinton’s son-in-law, Marc Mezvinsky (and two …
Dec 7, 2015 … … Clinton’s rich son-in-law, Marc Mezvinsky, to see about setting up a meeting with … Siklas told Mezvinsky, who married Chelsea Clinton in 2010, that … Both Siklas and Mezvinsky had worked at Goldman Sachs, which itself …
Who Is Marc Mezvinsky? Chelsea Clinton’s Husband Comes From …
Dec 22, 2015 … First his father, Edward Mezvinsky, represented Iowa’s First … five years in prison for scamming $10 million out of family and friends in a Ponzi …
Hillary Clinton Son-In-Law’s Hedge Fund Shuts Down Greek Fund After 90% Loss
Submitted by Tyler Durden on 05/10/2016 21:51 -0400
Despite having Goldman Sachs CEO Lloyd Blankfein as an investor and being Bill and Hillary Clinton’s son-in-law, Marc Mezvinsky (and two former colleagues from Goldman Sachs who manage Eaglevale Partners hedge fund) told investors in a letter last February they had been “incorrect” on Greece, generating staggering losses for the firm’s main Eaglevale Hellenic Opportunity, a/k/a the “Greek recovery” fund during most of its life. By ‘incorrect’ the Clinton heir apparent meant the $25 million Eaglevale Greek fund had lost a stunning 48% in 2014.
Which is not to say the larger fund it was part of is doing any better: as of last February, Eaglevale had spent 27 of its 34 months in operation below its high-water mark. We are confident that 13 months laterthe numbers are 40 out of 47, respectively.
As a reminder, 2013, Institutional Investor proclaimed Mezvinsky “a hedge fund rising star”…
In late 2011, Marc Mezvinsky co-founded New York-based, macro-focused hedge fund firm Eaglevale Partners with Bennett Grau and Mark Mallon, two Goldman Sachs Group proprietary traders whom he’d gotten to know when they all worked at the bank. Best known as the husband of Chelsea Clinton, Mezvinsky, 35, who has a BA in religious studies and philosophy from Stanford University and an MA in politics, philosophy and economics from the University of Oxford, has been quietly building his finance career. Before launching his own firm, the longtime Clinton family friend was a partner and global macro portfolio manager at New York- and Rio de Janeiro-based investment house 3G Capital. Eaglevale manages more than $400 million.
Alas, he was anything but, and instead of having a real grasp of macroeconomic events, or how to – you know – hedge, he decided to dump millions in Greece just before the country entered a death spiral that culminated with its third bailout, capital controls, insolvent banks and a terminally crippled economy.
Meanwhile, things went from terrible to abysmal for both the clueless hedge fund manager and his LPs, and as the NYT reports, Hillary Clinton’s son-in-law is finally shutting down the Greece-focused fund, after losing nearly 90% of its value. Investors were told last month that Eaglevale Hellenic Opportunity would finally be put out of its misery and would shutter.
The closure comes as the worst possible time: we are confident that Donald Trump will be quick to work it into his political attack routine.
Mr. Chelsea Clinton and his partners began raising money in 2011 from investors for the firm’s flagship fund. Since then, that portfolio has posted uneven performance. A Stanford University graduate, Mr.Mezvinsky worked at Goldman for eight years before leaving to join a private equity firm. He left that job to form Eaglevale with two longtime Goldman partners, Bennett Grau and Mark Mallon. The hedge fund firm is named after a bridge in Central Park.
As noted above, some of the firm’s earliest investors were Goldman partners, including Lloyd C. Blankfein, Goldman’s chief executive officer, who let Eaglevale use his name in marketing the flagship fund. Ironically this is in addition to the hundreds of thousands of dollars that Goldman paid to Marc’s mother-in-law. One almost wonders who “benefits” Goldman was seeking to get out of this particular relationship.
But on a less sarcastic note, we agree with the NYT that it is not at all clear why Eaglevale waited until this year to close the Hellenic fund, which already had lost about 40% of its value by early last year.
Perhaps it was just hope that the Greek people would simply pick up and rebuild the devastated economy from scratch, ideally without getting paid (the word slavery comes to mind), thereby miraculously rescuing his investment. In letters to investors in 2014, Mezvinsky and his partners expressed confidence that Greece would soon be on the path to a “sustainable recovery.” But by the end of that year, Eaglevale’s leaders began to acknowledge that their perspective on the situation in Greece may have been wrong. The fund had earlier stopped taking in new money.
We will conclude by stealing the NYT’s tongue in cheek humor:
The one silver lining for the fund’s investors from all of this is that they will have a somewhat larger tax loss on investments to claim next year.
True: it’s all funny if one assumes that none of the people who were invested in Mezvinsky’s pet fund actually needed the cash (we doubt Blankfein will lose sleep over a few million). For all those others who actually did, the joke’s on them.
Clinton’s staying at Soros Family home during Chelsea’s wedding
All Marxist roads lead back to this scumbag…
(Politico)– Rumored details of the wedding of former first daughter Chelsea Clinton to longtime boyfriend Marc Mezvinsky have been leaking out in the press for weeks, from what food will be served to what the bride will wear to what songs guests will dance to. And here, we’ve put them all in one place! (Much of the speculation, we’re sure, will shake out as fact, but the Clinton’s have confirmed few details beyond the date.) Herewith, find POLITICO’s round-up of what we know — and don’t know for sure — about the wedding of President Bill Clinton and Secretary of State Hillary Clinton’s daughter.
…The rehearsal dinner is reportedly taking place at the nearby Grasmere, a 525-acre estate boasting a Federal-period manor house with formal gardens, stucco guest cottages and a large stone barn complex. Another area manse rumored to be serving the family over the weekend will be Glenburn, where the Clintons are said to be staying over the weekend. Glenburn is the Rhinebeck home of Eric and Andrea Colombel. Andrea Colombel is the daughter of billionaire financier and longtime Clinton supporter George Soros.
Ethics Complaint Says Big Clinton Donors Got State Dept Access
10:02 PM 01/10/2016
U.S. Democratic presidential candidate Hillary Clinton listens to her introduction at a campaign event in Sioux City, Iowa, United States, January 5, 2016. REUTERS/Jim Young
Former Secretary of State Hillary Clinton violated federal ethics statutes by giving “preferential treatment” to wealthy political campaign donors and financial supporters of the Clinton Foundation, according to a formal complaint filed Friday by the Foundation for Accountability and Civic Trust.
The non-profit government watchdog group filed the complaint with the Office of Government Ethics, asking it to conduct a “full investigation” into Clinton’s “apparent breach of ethics rules.” A copy of the complaint was exclusively obtained by The Daily Caller News Foundation.
The organization charged Clinton gave “preferential treatment to individuals with which she had financial ties” and “regularly granted access” to rich donors, celebrities, and even powerful foreign nationals.
The FACT complaint follows the State Department’s latest release of thousands of Clinton emails that she turned over to the government more than two years after leaving the office in 2013. She used a private email address and a home-brew server in her private New York residence to conduct official government business throughout her tenure.
The emails reveal rich details about how Clinton mixed government work with the worldwide network of wealthy and politically influential donors she and her husband have cultivated for decades. The emails were first publicly reported in March, 2015, by The New York Times. They are being released now in response to a Freedom of Information Act lawsuit filed by Judicial Watch, another non-profit government watchdog.
Clinton granted access to such people as billionaire George Soros, philanthropists Bill and Melinda Gates, designer Diane von Furstenberg and her husband Barry Diller, retired Citigroup Chairman Sanford Weill, real estate magnate Walter Shorenstein, former Loral CEO Bernard Schwartz and media mogul Haim Saban, according to appendices attached to the complaint.
Clinton met twice as Secretary of State with Soros and appointed his personal candidate as the U.S. Government’s special envoy to Albania during a period of political unrest in that country. Soros has given at least $2 million to super PACs supporting Clinton, according to the Washington Post.
“Georg Soros is anxious to see you before he leaves for Europe next Tuesday,” an aide wrote to Clinton in one of the emails. “Could I fit him in for tomorrow,” the aide asked. “Yes,” Clinton replied.
Melanne Verveer, a top aide who followed Clinton from the White House to the State Department, transmitted to her the views of Victor Pinchuk, a Ukrainian oligarch who married the daughter of former Ukrainian Communist president Leonid Kuchma.
The Clintons met Pinchuk, attending his 2014 annual conference at Livadia Palace, the last Russian czar’s summer retreat on the Black Sea. He has given at least $13 million to the Clinton Foundation, according to The New York Times.
Civic reform groups widely criticized Kuchma’s presidency as riddled with corruption and nepotism. The former communist leader was tainted with allegations by a Ukrainian prosecutor that he was tied to the grisly murder of a prominent anti-government journalist, whose headless and mutilated body was found in 2000.
FACT founder and former U.S. Attorney Matthew Whitaker charged in an interview with TheDCNF that Clinton “allowed insider access and pay-to-play politics” where donors to the Clinton Foundation and to her political campaigns received “regular access” to her office.
“There’s a growing narrative surrounding her in the way in which she does business,” he said. “Essentially if someone wants to have access to her, they need to be a significant donor to her political campaigns or to her philanthropic endeavors.”
Ironically, Title 5 was signed into law by President Clinton. The regulation became effective on Feb. 3, 1993, and was codified in 5 CFR, part 2635, the provision invoked by FACT in its complaint. The law directs OGE to establish a clear set of executive branch standards for ethical conduct and refer any violations to the Department of Justice
Subpart B of the law cited by the organization prohibits employees “from soliciting or accepting gifts from prohibited sources or gifts given because of their official position,” according to the OGE’s website.
“The term ‘prohibited source’ includes anyone seeking business with or official action by an employee’s agency and anyone substantially affected by the performance of the employee’s duties,” according to OGE.
“When ethics officials find evidence that an employee has violated an ethics criminal statute or regulation, they must refer the that evidence to the appropriate authority for action,” according to the law.
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Read more: http://dailycaller.com/2016/01/10/hillary-clinton-foundation-donors-ethics/#ixzz48JOQwA5o
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