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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (782800)	4/30/2014 12:56:40 PM
From: Wharf Rat	Respond to of 1578987

Trump always thinks everybody in the room is an idiot, except for him. That's cuz he's gone bankrupt many times, and they still let him into the room.

To: bentway who wrote (782800)	4/30/2014 1:08:46 PM
From: joseffy	1 Recommendation Recommended By TideGlider Respond to of 1578987

But in the Sterling Story, who is The Man? I'll offer a theory about why the man might be Magic Johnson, who desperately wants Donald Sterling's NBA franchise now that the Buss family says they won't sell his old Lakers. But Magic was the front man in the purchase of the Los Angeles Dodgers two years ago. So it might be Magic's big money backers in Guggenheim Partners. Or ... And this is really a stretch, but let me toss it out there. There's a financier in L.A. who invests some of his money with Guggenheim Partners who for intelligence and energy and guile makes Mozilo and the other mortgage guys look like smalltimers. You haven't heard much about him since he got out of prison a couple of decades ago. He's legally banned for life from getting anything in return for giving investment advice. But he's still here and he's allowed to manage his own billions. The SEC has been investigating whether the Dodger purchase by Guggenheim was something of a front for him to get back in the game. Granted, I'm no doubt reading way too much into this. And if this story doesn't go all the way to the top, it's still really interesting. I apologize for this post wandering all over the place, but the more I looked into the story that Magic wants the Clippers, the more pieces fell into place. Listening closely to the presumably illegally made tapes suggests that the mistress was setting the LA Clippers owner up-- she's the one egging on the racial angle over her photos cuddling with Magic Johnson and Matt Kemp of the Dodgers. Originally, I assumed her minor league lawyer was her mastermind, but the news that Magic and his mysterious Guggenheim Partners backers want control of Sterling's NBA franchise suggests that there's a reasonable chance that this whole set-up originated with somebody more high-powered than her Woodland Hills attorney. (This lawyer is so obscure that his office is on Burbank Blvd. rather than on Ventura Blvd.) Former Los Angeles Lakers basketball star Magic Johnson was the public frontman for the secretive Guggenheim Partners in paying an outlandish $2 billion to Boston leveraged parking lot robber baron Frank McCourt for the Los Angeles Dodgers baseball team. And now, what do you know, Magic and the Guggenheim Partners are willing to take the Los Angeles Clippers off Donald Sterling's hands and add it to their nascent Los Angeles sports empire. In contrast, the new Guggenheim Partners firm is very high-powered. In fact, the SEC has been trying for a year to figure out if GP is so high-powered that its Los Angeles sports franchise acquisitions are done in illegal collaboration with ... well, I won't mention his name yet, but it's a smack-yourself-in-the-forehead name out of the history books of Los Angeles and finance. I'll tell you the name later in the posting, but for my readers who are at his annual Beverly Hills wingding today, [ Milken! ] why don't you ask around and see what your host thinks about the Clippers. Or ask Magic Johnson when he speaks at lunchtime on Wednesday

To: bentway who wrote (782800)

4/30/2014 1:16:02 PM

From: joseffy

Respond to of 1578987

Michael Milken AGAIN?

.......................................................................................................................................

By the way, who else is involved in the Guggenheim Partners' aggressive moves in the Los Angeles area? The SEC was trying to find out last year: they were interested in the activities involving the Dodger purchase of a certain Los Angeles ex-financier who happens to have $800 million invested with Guggenheim.

And this giant in the history of finance also has a lot of time on his hands because he is under a lifetime ban on securities trading since his 22 months at Lompoc in the early Nineties.

Yeah ... him.

No, not the college president on the left; and, no, not Magic; him.

The man who remade American capitalism in the Eighties.

Now I have less than zero evidence that junk bond king Michael Milken has had anything to do with Donald Sterling's downfall. I mean other than that a year ago Milken had $800 million with Guggenheim and Guggenheim has been chasing sports franchises in Los Angeles and really wants to get the Clippers away from Sterling. So forget I ever mentioned the name Milken.

This story has nothing to do with the ambitions of rich men.

It's about racism. Nothing else. Stop thinking about anything other than the horrors of racism.

isteve.blogspot.com