McClintock Ping List.
Please freepmail me if you want on or off this list
Posted on 10/02/2006 1:03:46 PM PDT by calcowgirl
McClintock Ping List.
Please freepmail me if you want on or off this list
Could somebody please post the Forbes story on him back then. It was truly a great read plus it nailed this POS flat to the wall.
Which one?
http://www.forbes.com/global/1999/1227/0226024a.html
Executive Life
Brigid McMenamin, 12.27.99
Crusading under a banner of rescuing policyholders, an ambitious California insurance commissioner named John Garamendi let New York financier Leon Black and his pals at Crdit Lyonnais grab Executive Life Insurance for a fire-sale price of just over $3 billion in 1991. Far from helping, the deal left policyholders taking a 40% shaving on their claims, while Leon Black reaped an estimated $300 million.
That deal helped derail Garamendi's run for the California governor's mansion in 1994. He wound up in a dead-end job at the Interior Department.
Guess where Garamendi is working now? At an investment outfit with strong links to--yes, Leon Black. In April 1998 Los Angeles-based Yucaipa Cos., an investment company that's had some big deals financed by Black, made Garamendi a partner. Yucaipa is headed by supermarket mogul Ronald Burkle. Black's Apollo Advisors financed Yucaipa's 1995 acquisition of Dominick's Foods and the merger of Ralph's Grocery Co. with Food 4 Less. Black refuses to talk on the record.
Hard to say just what Garamendi does for Yucaipa. When he took the job, he said he would set up an office in Washington, D.C. To date, Yucaipa has no D.C. office, and Garamendi won't say what he's doing other than confirming that he's a partner.
You may be reading more about Black and Garamendi. Though neither is a defendant, a lawsuit recently filed by Garamendi's successor, Charles Quackenbush, alleges that Black's French buddies acquired Executive Life by fraud (FORBES GLOBAL, Dec. 13).
BTTT
I haven't lived in CA for many years. So I'll need for California Freepers to explain whether this story has legs.
This is one of the all-Californian rip-off stories.
Most likely (IMO), it won't have legs as too many from both parties have close ties to the robber barons involved.
You saw what they did with the tobacco money.
I'm not sure... ?
They spent it all and there are no results.
It is all for the kids!
keyword Garamendi
http://www.freerepublic.com/focus/search?m=any;o=score;s=garamendi
Garamendi started young in elected politics here as well, has a long history here and in D.C.. worked for Clinton in the Interior Dept in the 90s... elected to Ca assembly in 1974,, went to Ca senate then became first Ca insurance commissioner some years ago. just one more critter on the bureaucracy wastelands.
http://www.insurance.ca.gov/0500-about-us/0200-commissioner/
Go Tom!
OK, I'll say it: Garamendacious
Same old gang. Many appear to be up to the same old tricks.
I'm a recent California resident, so I can't tell you.
But I have the sneaking suspicion that the 'D' next to his name will protect him. After all, he was only doing it 'for the people', right?
Yeah! As chief assistant suck-up to Brucie Bab-bab-babbit!!! Phhhhhhhhhht!!!
The Cliton admin used the motto "Putting People First," but Garamendi kept tellin everybody "the fish & foul come first!"
He really liked affirmative action for fish and plants along with welfare for wildlife as long as you paid for it!!!
How do you run for Lt. Governor???
A stellar resume--for a leftist rat.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.