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Divernan's Journal
Divernan's Journal
December 31, 2014

How did Marc Mezvinsky's hedge fund miss out on this?

Ah well, as the article points out, there are many, many other similar opportunities out there for 2nd generation grifters to rip off the gullible. Like father, like son. Apple, meet tree. Marc's father, Ed Mezvinsky, a former U.S. representative from Iowa, pleaded guilty in 2002 to cheating dozens of investors out of $10 million.

In March 2001, Mezvinsky was indicted and later pleaded guilty to 31 of 69 counts of bank fraud, mail fraud, and wire fraud.

Ed Mezvinsky embezzled more than $10 million dollars from people via both a Ponzi scheme and the notorious Nigerian e-mail scams. He was found guilty and sentenced to 80 months in federal prison.

After serving less than five years in federal prison, he was released in April 2008 and remains on federal probation. To this day, he still owes $9.4 million in restitution to his victims.

Moving on to the 2nd generation of Mezvinsky financial wheeler dealers, son Marc and his 2 partners, all ex-Goldman Sachs Group Inc. proprietary traders/graduates, have profiteering, barely legal speculations down to a fine art. Y'all know Goldman-Sachs, right? The folks who paid Hillary $400,000 in one week for a couple of speeches? http://www.dailykos.com/story/2013/11/14/1255675/-Goldman-Sachs-Pays-Hillary-400-000-in-One-Week

The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who's Who of Goldman Sachs graduates.

Read more: http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405#ixzz3NUOiPstK
Follow us: @rollingstone on Twitter | RollingStone on Facebook

Ex-Goldman Sachs Group Inc. (GS) proprietary traders Bennett Grau and Mark Mallon are teaming up with former colleague Marc Mezvinsky to start a hedge fund, according to a person with knowledge of their plans.

The three are raising money for their new firm, Eaglevale Partners LP, which plans to start trading in the first half of 2012, said the person, who asked not to be identified because the information is private. The fund will employ a global macro strategy, seeking to profit from economic trends by trading securities from bonds to commodities.

December 6, 2014

Pittsburgh mayor goes undercover collecting garbage; handling chainsaw on reality show.

Pittsburgh Mayor Bill Peduto donned a wig with shoulder-length gray hair and a scraggly, long gray beard to star on an upcoming hourlong episode of the CBS Emmy-winning show “Undercover Boss.” The episode is scheduled to air 8 p.m. Dec. 21.

Peduto spent four days collecting garbage, working as a carpenter hanging doors with the Pittsburgh Housing Authority, cutting logs with a chain saw with Department of Public Works employees and posing as a “self-sufficiency coordinator helping community members who are breaking out of the chain of poverty.”

The days were long, Peduto said. He was up at 5 a.m. putting on makeup from a location in Green Tree, where he stayed during the October filming. It took two hours to apply makeup. “Each one of those hairs were put on separately,” he said. He worked from 8 a.m. until 5 p.m. and conducted mayoral business until 9 or 10 p.m.

Read more: http://triblive.com/news/adminpage/7307404-74/peduto-cbs-undercover#ixzz3L6nRkAjG
Follow us: @triblive on Twitter | triblive on Facebook

I have a law degree, but as a teenager worked one summer as a migrant farm worker & post retirement/post 2008 loss of retirement savings worked as a door to door census worker and one holiday season as a postal worker in a mail processing center (handling heavy packages and machinery). I am absolutely convinced that every person from first level management up to board member, and every elected politician, should work for at least 3 months at a physical labor job to understand physical stress and exhaustion as it relates to the length of shifts plus commuting time, workers' needs for paid sick days & vacation days, and the impact of age and health upon one's work capacities, i.e., appropriate retirement age. At least I was not subject to forced overtime, double shifts and unpaid overtime as are many workers.

I don't agree with Mayor Peduto on every single policy, but kudos to him for his decision to experience labor outside the office environment. How many of the commenters to this article, ridiculing Peduto, have ever worked at jobs like collecting garbage or handling chainsaws? And I don't mean hauling your trash to the curb one day a week or cutting up some downed tree on your property, but working 8 hour shifts with a dangerous piece of machinery. Every mayor in the country ought to do what Peduto did. I'm really looking forward to watching this program.

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