We need an investigative journalist for this latest scandal. See my book ”The Worst Financial Scandals of the Last Twenty Years: From Madoff to the Coverup of the INT Fcstone Scandal”.
I recently published a book with these words in the title. It costs only $6.99 in print and $2.99 in Kindle. It contains a letter from the Victim Specialist of the FBI, Department of Justice. The agency that I drafted the law to create in 1974, the Commodity Futures Trading Commission (CFTC), has done nothing but cover this scandal up. They are totally unresponsive to my FOIA requests. Hence the term coverup in my title.
Michael R. McLeod
I worked hard in Asheville, NC to help Mike Bloomberg win the Democratic nomination. I made a lot of calls and put up 70 Yard signs. While I am disappointed that he was unable to win, I believe he has skills that would be very useful in leading our nation.
He is a self made man with a net worth of over 50 billion dollars. Joe Biden has had a long and successful career as a Senator and Vice President. He can do a good job of healing the wounds that Donald Trump has created.
Mike Bloomberg has invaluable skills in the economy and finance. He would make an excellent Vice President or at least an Economic Czar. Trump has Larry Kudlow as his Economic Czar. Kudlow is nothing more than a cheerleader, and does not have a net worth in the range of Mike Bloomberg.
Michael R. McLeod
After the South Carolina primary vote, Tom Steyer, a self made billionaire, pulled out. That leaves only Mike Bloomberg, who has both the resources and the expertise to win enough electoral votes to defeat Donald Trump. He is the only Democrat who can win the Presidency of our great nation.
When Trump defeated Hillary Clinton in 2016 he did so although she won almost 3 million more popular votes than he did. However, he did win more electoral votes than she did. Bloomberg is a self-made billionaire who will not make the same mistake. He understands the importance of winning the “flyover states” such as North and South Dakota, which have only 3 electoral votes per state.
Also, Trump has taken credit for building a strong economy. That has been undermined by the collapse of the economy because of the Coronavirus. Unfortunately, Bernie Sanders is leading in the number of Democratic delegates thus far. If he is the Democratic nominee it would ensure the re-election of Donald Trump.
Mike McLeod is an author who has actively participated in four Presidential campaigns. Not all of them were winning campaigns, so he is keenly aware of the mistakes that can be made.
Michael R. McLeod
With Vermont Senator Bernie Sanders (a Socialist) fighting to be the Democratic nominee to take on Donald Trump my memory goes back to when I served as counsel of the Senate Agriculture Committee.
At that time the senior senator on the Senate Agriculture Committee was crusty old Senator George D. Aiken of Vermont. No one would have ever accused him of being a socialist. His most famous quote was about the war in Vietnam “let’s just declare victory and get out”.
When he retired he was replaced by Patrick Leahy, a moderately liberal Democratic. He also became a member and eventually the Chairman of the Senate Agriculture Committee.
My point is that it is amazing that the little rural State of Vermont would elect a Senator who is campaigning to be the Democratic nominee to Defeat Donald Trump.
I have been quite disappointed with the performance of the authorizing committees of the Commodity Futures Trading Commission (CFTC) after bankruptcy of the introducing broker OptionSellers and the absolving of the clearing firm INT FCStone of any blame.
Anyone who knows anything about the operation of the futures market knows that the integrity of these clearing firms is what makes the markets work. The House and Senate Agriculture Committees have at stake their jurisdiction over this field of law. If they don’t use it they should let other committees have it. Maybe it should go to the committees with oversight responsibility for the SEC.
They should call the current Chairman Heath Tarbert to come before their Committees. The questionable activities took place during the term of his predecessor Chairman Giancarlo, who is now a Washington lawyer and lobbyist.
I know how the CFTC was started because I was the young Senate lawyer who drafted the law to establish the CFTC in 1974. I have the documents to prove it. Unfortunately, I have the documents to prove the huge loss I took when OptionSellers went under in the second week of November 2018.
To me it is inexplicable that a few years before, in 2013, the CFTC fined the clearing firm INT FCStone $1.5 million and forced them to absorb $127 million in losses. This time they allowed this firm to charge innocent investors like me for the losses. I would be happy to testify before the House and Senate Agriculture Committees.
The only Federal agency that has expressed any interest in trying to help me is the FBI, Department of Justice. I received a letter from the Victim Specialist stating that she understood I was a victim of a financial crime. A copy is included in my little book “The Worst Financial Scandals of the Last Twenty Years: From Madoff to the Coverup of the OptionSellers/INT FCStone Scandal”.
This little book is available for $6.99 in print or free as a Kindle book.
Michael R. McLeod