Posted on 05/30/2010 10:40:48 AM PDT by NormsRevenge
Reporting from Sacramento — The name of Republican gubernatorial candidate Meg Whitman, a billionaire who has been defending her ties to embattled investment banking giant Goldman Sachs throughout her campaign, appears in the federal investigation of another Wall Street firm tarnished by scandal.
Court documents filed by prosecutors in the aftermath of the dot-com bust show Whitman, then chief executive of EBay, listed among about 200 executives who were to receive gifts of deeply discounted stock from Frank Quattrone, then a banker at Credit Suisse First Boston.
A star dealmaker during the late 1990s, Quattrone was twice indicted on obstruction-of-justice charges stemming from a federal investigation of such gifts and other business practices. Regulators charged that the gifts were used as incentives or kickbacks for corporate investment-banking business.
The regulators said the documents suggested that each of the executives listed could steer business to Quattrone's firm. They show ratings, on a scale of one to four, of the business leaders' potential to produce such business. Alongside Whitman's name and an account number is the numeral 2.
Authorities accused Credit Suisse of allocating shares of prime initial public offerings to clients on the list, which became known as "Friends of Frank," practically guaranteeing them a fortune when the price of the stock soared. The practice became a symbol of the way Wall Street firms rewarded friends and clients at the expense of smaller investors, whose only chance to buy the offerings was after the companies had gone public.
The documents do not show whether Whitman, who acknowledged receiving a special stock deal worth $1.78 million from Goldman Sachs, received stock from Credit Suisse. She declined to discuss any dealings she may have had with Quattrone's group or to say whether his company ever deposited shares in an account for her.
(Excerpt) Read more at latimes.com ...
Quattrone fwiw ping
You can always count on the LA Times. Whitman’s the leading repub contender so let the smears begin.
Just like clockwork, the sunrise, death and taxes, the LA Times is like a force of nature.
Not only do I not want this woman in charge of CA .. she has openly stated that she believes, “Van Jones is a genius”.
Anybody who believes that .. is not fit for any public office anywhere.
She’s trying to buy the nomination .. but sadly, she’s still not beating the democrat who she would have to run against.
If possible, he’s worse than her.
She was McCain’s campaign co-chair.
NUff said.
Whatever. This is CA where you have two liberals pretending to be conservatives running for governor. It’s not likely that either will honor all their primary promises and positions. But if they only honor half, CA will be better off.
Then you have Jerry Brown...
I’d rather have some sort of fighting chance to hold on to whatever wealth and liberty I have rather than capitulate to the commies.
Your mileage may vary...
Then again, I feel your pain and wish we had better leaders here in Texas.
WE could be the next California.
They're good, conservative kids but they just haven't figured out yet that the demographics and the democrats are against them.
Democrats are truly the enemies of the people.
Better get in line now. They’ve been coming here for years.
So it seems...
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