Posted on 05/20/2010 9:31:43 AM PDT by The Doctor
The Daily Politics by Celeste Katz May 19, 2010 2:44 PM 8 Comments David Malpass and... Bruce Blakeman's Dog? What The... »
By Celeste Katz
And I thought I was being silly by posting that cartoon this morning!
Someone (who, incidentally, won't tell me who he or she is) is passing around the below video, which purports to lump GOP Senate hopeful David Malpass in with the likes of Enron's Ken Lay. It also features a quick flash from an old commercial by a current rival of Malpass, Bruce Blakeman. Not featured is another GOP challenger to incumbent Sen. Kirsten Gillibrand, ex-Rep. Joe DioGuardi.
Responds Malpass spokeswoman Jessica Proud: "This is an amusing ad, but whoever made it knows astonishingly little about finance. David Malpass is an economist, not a banker. Hitting him for Bear Stearns is like slamming the meteorologist for a snowstorm. It is interesting to note that David Malpass is the subject of the first attack ad in this campaign. He must be doing something right."
Read more: http://www.nydailynews.com/blogs/dailypolitics/2010/05/david-malpass-and-bruce-blakem.html#ixzz0oUIgSU8x
(Excerpt) Read more at nydailynews.com ...
The analogy to Ken Lay at Enron (in the video) may not be perfect, but Malpass was fiddling, and likely depositing lots of cash in his bank account, while Bear Stearns burned.
To go directly to the video, click on this link: http://www.youtube.com/watch?v=HcvRL7oFIKY
How was Malpass fiddling? He was the chief economist not the CEO or a vice chairman.
NY GOP is as bad as the RINO Florida GOP.
Well, it was actually worse than fiddling. He was writing self-serving op-eds for the Wall Street Journal and selling securities he knew were doomed. If the CEO made $38 Million in 2007, how much would Malpass as “Chief Global Economist” have made? And their shareholders lost between 64% and 98%.
See this post:
By Michael Corcelli
David Malpass gave one of the most intellectually dishonest presentations that I had to sit through. He gave this presentation to a select group of institutional clients at Bear Stearns during the financial meltdown. It was very heartfelt and sincere, about half way through the presentation I woke back up to reality and said to myself this guy is great at making people feel good (He could get elected). He was glazing over all the bad situations in the economy and pointing out all the great fundamentals with regards to the US economy. I wanted to buy everything after listening to him. It was very similar to the presentation that Collin Powell gave to the UN when the US decided to invade Iraq. It was a very good presentation but something smelled foul.
He was giving advice to buy the securities that were going to zero and he was leading clients into the gallows. I believe it is okay to share opinions and investment ideas when you want some extra appreciation or to get out of your position without impacting the price of the security. I think this behavior is okay as long as your view is close. Malpass was inside the head of the beast and he was convincing Bear Stearn’s clients to take risk and go long debt, equity and commodities. He was telling lie after lie. I wish I never tuned into his presentation, unfortunately for both of us I did. This guy does not deserve to be trusted and I am a Republican.
OK, what’s a NERO?
Garbage? What a hot mess, Blakeman’s best friend has more integrity than Malpass. You can’t trust anyone but CPA’s — clearly, what we need more of in Washington.
You must have been watching a much different speech than I have. Everything I’ve seen of the guy, I’ve been bored to tears. He’s got no charisma, but he’s apparently a fairly practiced liar if he’s been pocketing large sums of money and leading people in the wrong direction while Bear Stearns tanked. This is the last thing New York needs
Nero was the Roman Emperor who supposedly fiddled as Rome went down in flames.
Agree. If you read his wikipedia “bio,” it’s been called a stub by the editors, because it’s so lacking in content. Malpass is a shadow.
The information below is from The Chicago Council on Global Affairs for an event on in April 2008.
David Malpass is senior managing director and chief economist at Bear, Stearns & Co., Inc where he is responsible for economic and financial forecasts, analysis, and global investment issues. In 2003, investment institutions voted Mr. Malpass one of Wall Street’s top five economists in the Institutional Investor survey. He has held a series of economic appointments during the Reagan and Bush Administrations and was also the Republican Staff Director of Congress’s Joint Economic Committee and Senior Analyst for Taxes and Trade at the Senate Budget Committee.
If you read his bio, he doesn’t have a degree in economics— figures.
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