How will Joe Biden GOVERN? General Biden Administration F**kery Thread
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mastermind
Rest In Power Kobe
He hasn’t kept his promises, but he has been more anti poor than Obama and Clinton, especially Clinton who was just eight more years of Reagan.
Hood Critic
The Power Circle
He had a great opportunity in 2021 when he had the high approval ratings to make some of that stuff more permanent.
Once the Afghanistan withdrawal occured and the media attacked him relentlessly for it, his approvals have stayed down since and he's been in weak position ever since then.
The early days was the time to box Manchin and Sinema in. Once the ARP passed, it was all over.
Why are we doing this still?
Sinema left the party.
Manchin is retiring an doesn't give a fukk.
Those two killed the extension of those programs that were in the original house bills.
88m3
Fast Money & Foreign Objects
Ghosts on the Glacier
Decades after the unexplained deaths of two American climbers in Argentina, a camera belonging to one of them was found in the snow. The film held astonishing images, but the mystery endures.
interesting read
ADevilYouKhow
Rhyme Reason
U.S. Regulators Propose New Online Privacy Safeguards for Children
The F.T.C. proposed sweeping privacy changes on Wednesday which could curb how social media, game and learning apps use and monetize youngsters’ data.
ADevilYouKhow
Rhyme Reason
Lina Khan’s F.T.C. Secures a Big Win
An appeals court ruling that validated its fight against a deal by the gene-sequencing giant Illumina is a boost for the agency’s expansive antitrust strategy.
ADevilYouKhow
Rhyme Reason
He escaped after bribing Navy officials. Now Venezuela is sending ‘Fat Leonard’ back — Miami Herald
The Malaysian defense contractor cut off his ankle bracelet and disappeared last year while on house arrest. He turned up in Venezuela.
apple.news
Joe
ADevilYouKhow
Rhyme Reason
Rite Aid facial recognition misidentified Black, Latino and Asian people as ‘likely’ shoplifters — Guardian US
Surveillance systems incorrectly and without customer consent marked shoppers as ‘persons of interest’, an FTC settlement says
apple.news
FTC putting in work
Man pleads guilty in stock fraud case involving $100 million New Jersey deli
Hometown International once was valued at $100 million on the stock market despite owning a tiny, money-losing deli in New Jersey.
www.cnbc.com
Man pleads guilty in stock fraud case involving $100 million New Jersey deli
PUBLISHED THU, DEC 21 20238:14 AM ESTUPDATED 2 HOURS AGODan Mangan@_DANMANGAN
KEY POINTS
- James Patten, a North Carolina resident, pleaded guilty to securities fraud charges related to manipulating the stock prices of two publicly traded companies.
- One of the firms, Hometown International, had a market capitalization of more than $100 million despite owning just a small, unprofitable deli in Paulsboro, New Jersey.
- Two other men, Peter Coker Sr. and son Peter Coker Jr., remain charged in the case in New Jersey federal court.
Your Hometown Deli in Paulsboro, N.J.
Google Earth
A North Carolina ex-convict pleaded guilty to securities fraud in connection with conspiring to manipulate the stock of a company that once had a market capitalization of as high as $100 million despite owning just one, small money-losing deli in southernNew Jersey.
Disgraced former stockbroker James Patten also admitted on Wednesday in Camden, New Jersey, federal court to conspiring with two other men to manipulate the share price of another related shell company, which had no tangible assets. That company’s market cap was even higher than the Hometown International deli company the men controlled.
Prosecutors said that Patten, 64, and the other two defendants conspired over eight years to increase the stock price of Hometown International and the shell company E-Waste to create a false impression of demand for the firms’ shares, and better position them as candidates for so-called reverse mergers with privately owned companies.
Courtroom sketch of James Patten, left, and attorney Ira Sorkin at N.J. District Court in Camden, N.J., Oct. 11, 2022
Source: Elizabeth Williams
The other defendants, Peter Coker Sr. and son Peter Coker Jr., remain charged in the case, in which they have pleaded not guilty.
The Cokers and Patten also are being sued over the alleged scheme by the Securities and Exchange Commission. That lawsuit in New Jersey federal court has been paused until the resolution of the criminal case.
The scheme relied on a pattern of coordinated stock trading between a relatively small number of accounts nominally held by family members, friends and associates, according to court documents.
As a result, Hometown and E-Waste’s stock prices were artificially inflated by 939% and 19,900%, respectively.
The scheme began in 2014, when Patten suggested the creation of Hometown as an umbrella corporation to a friend, a high school principal and wrestling coach named Paul Morina, to own Your Hometown Deli, which Morina and another person were discussing opening in Paulsboro at the time. Morina and the other deli owner were unaware of Patten’s scheme to manipulate Hometown’s stock, authorities have said.
Hometown Deli, Paulsboro, N.J.
Mike Calia | CNBC
Patten’s guilty plea to securities fraud, and conspiracy to commit securities fraud, could well ratchet up pressure on both Cokers to reach plea deals in the case.
Coker Sr., who lives in North Carolina, remains free on bond, while Coker Jr., a former Hong Kong resident who was arrested as a fugitive in Thailand in January, is being held without bond in a New Jersey jail.
Charges were filed against the trio in September 2022, more than a year after CNBC detailed a series of questionable connections between Hometown and E-Waste, past criminal and civil court issues of Patten and the elder Coker, and eyebrow-raising consulting deals with the companies that benefitted those two men. Your Hometown Deli closed earlier in 2022.
CNBC’s reporting was sparked by a client letter that hedge fund mamager David Einhorn sent clients in April 2021, which highlighted Hometown International’s bizarre stock price given its very meager single asset of the deli.
“The pastrami must be amazing,” Einhorn wrote in that letter.
On the heels of those articles, both Hometown International and E-Waste took the highly unusual step of disavowing their market capitalization, saying there was no basis to support their stock prices. The companies later executed reverse mergers with other firms.
Peter Coker Sr. and his wife Susan Coker at U.S. District Court in Newark, New Jersey, March 15, 2023.
Dan Mangan | CNBC
Patten, who lives in Winston-Salem, faces a maximum possible sentence of 20 years in prison and fines of $5.25 million, but he is likely to get much less than that given federal sentencing guidelines.
He is scheduled to be sentenced on April 23, at which point the other 10 securities fraud charges he faced with the Cokers will be dismissed.
His lawyer Ira Sorkin told CNBC, “He admitted that he had engaged in wrongdoing.”
When asked if Patten had agreed to cooperate with prosecutors in their case against the Cokers, Sorkin said, “I’m not going to get into anything.”
Sorkin, who previously represented the notorious late Ponzi scheme mastermind Bernie Madoff, said that Patten’s case was unusual only because of the media attention paid to it.
“The press has come in and said the pastrami sandwich cost $100 million,” Sorkin quipped.
The attorney said that at sentencing “you will find out” what the pastrami actually cost.
Lawyers for the Cokers have argued that no one actually lost money in the alleged scheme.
But prosecutors have pointed to the hundreds of thousands of dollars Hometown and E-Waste paid out in consulting fees, and to the funding of the companies by other individuals who are not charged.
Patten previously pleaded guilty in 2010 in New Jersey federal court to a mail fraud charge related to sending a client a false financial statement to cover up bad investments he had made using her money. He was sentenced to 27 months in prison in that earlier case.
Four years earlier, Patten was barred by FINRA, the broker-dealer regulator, from acting as a stockbroker for having failed to comply with an arbitration award of more than $753,000, for violating securities laws, unauthorized trading for churning a client’s account. Sorkin had represented him in that regulatory action.
Coker Sr. previously was sued for allegedly hiding money from creditors and alleged business-related fraud. He has denied wrongdoing in those cases.
Godless Socialist CEO
Superstar
I keep saying American voters are fukking stupid as shyt. This just supports that theory, country deserves fascism. I'm praying we somehow get out of this without ending up there
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Biden pardons thousands convicted of marijuana charges on federal lands and in Washington
Biden pardons thousands convicted of marijuana charges on federal lands and in Washington
Biden pardons thousands convicted of marijuana charges on federal lands and in Washington
Policies have never been the end all, be all.
He's old as hell, and our gerontocracy appears to be increasingly unpopular/unpalpable to younger(younger being 40 and below) voters.
Dems should have pivoted long ago.