Clinton Son-in-Law’s Firm Is Said to Close Greece Hedge Fund (down 90%)

New York Times ^ | May 10, 2016 | ALEXANDRA STEVENSON and MATTHEW GOLDSTEIN

[reaganaut1]

It was a hedge fund portfolio pitched by Hillary Clinton’s son-in-law, Marc Mezvinsky, as an opportunity to bet on a Greek economic revival.

Now, two years later, the Greece-focused fund is shutting down, after losing nearly 90 percent of its value, according to two investors with direct knowledge of the matter who spoke on the condition of anonymity.

Investors were told last month that the fund would close. The fund, Eaglevale Hellenic Opportunity, had raised $25 million from investors to buy Greek bank stocks and government debt.

Eaglevale Partners, a Manhattan hedge fund firm founded by Mr. Mezvinsky and two former Goldman Sachs colleagues, raised money for the Hellenic fund at a time when some on Wall Street had hopes for a revival in the Greek economy. For a time, Mr. Mezvinsky appeared at hedge fund conferences promoting the Greece investment thesis.

Mr. Mezvinsky is married to Chelsea Clinton, the daughter of former President Bill Clinton and Mrs. Clinton, the former secretary of state who is seeking the Democratic nomination for president.

Betting on Greece has proved to be tricky — some investors have made huge gains while others have had their fingers burned, depending on the timing of their bets.

And the last 17 months have been especially difficult for a number of hedge funds, even ones run by some of the best-known managers.

[reaganaut1]

Much of the money "invested" in Mezvinsky's fund or "donated" to the Clinton Foundation or "earned" by Chelsea Clinton for no-show jobs is a thinly-disguised bribe to a possible future president.

[MockTurtle]

Math is hard.

[lee martell]

Ill gotten gains bleeding out, like sand spilling from an opened palm. I guess Jr. Mezvinsky doesn’t have The Midas Touch.

[grania]

The irony is delicious. Greece has been done in by the EUs agenda of impoverishing and controlling other nations and by being overwhelmed by “migrants”. The migrant situation is a direct effect of Hillary’s bizarrely bad decisions as Secretary of State.

[Dilbert San Diego]

Can I ask a stupid question?

If Wall Street is evil and they represent the evil 1%, and hedge funds are an evil investment, then why is it OK for children of liberal politicians to run hedge funds for a living??

Speaking of which, how is it that Chelsea and Marc live in a luxury $10 million Manhattan co-op? Who paid for that? How the heck can they afford to live there???

[silverleaf]

He lost 90% of the $25 million invested
small potatoes for the Goldman Sachs crowd
But he better hope his mother in-law gets elected
and the Clinton Foundations slush fund stays solvent
or his rainmaking days may be over

back to the ski slopes

[Fireone]

With the Clintons involved, I’ll bet I’ve got a clue where the money went.

[Liz]

(Excerpt) Read more at judicialwatch.org ... On September 15, in a telephone call with then-Egyptian Foreign Minister Mohamed Amr, Secy Clinton emphatically portrayed the “stupid, very offensive film” as the root cause of the Benghazi violence. Clinton told Amr, “I have repeatedly, as has the President and other officials in our government, deplored not only the content of this stupid, very offensive film… But we have to exercise more self-discipline… otherwise we’ll be in a vicious downward circle against everyone who has ever felt offended, particularly on the internet….”

After referring to Benghazi, Secy Clinton’s telephone call with then-Egyptian Foreign Minister Mohamed Amr also contained a curious reference to what the former secretary referred to as a “very successful investment visit led by my deputy Tom Nides, and on the very day they left, this series of incidents began to unfold.”

According to the Washington Post, Nides, who was deputy secretary for management and resources at the State Department, was at the same time responsible for “communications with donors” to the Clinton Foundation. Nides was also involved in the scandal involving Clinton’s efforts to provide special access to State Department officials for hedge fund clients of her son-in-law, Marc Mezvinsky.

=============================================

Then-Sen Hillary made a special effort to make friends w/ Wall Street.

Then-US Sens Clinton and Corzine.

Corzine was fresh out of Goldman Sachs executive suite. Corzine came from Wall Street to Capitol Hill. Then back to Wall Street to head a company that hired Bill Clinton @ $50,000 per month, AND also misplaced $1.3 Billion investor dollars.

=============================================== Goldman Sachs top echelon are nuts for Hillary. The G/S biggies "invested" in Hillary's SIL's hedge fund. SIL's cockamamie investing turned the fund into an economic disaster according to the WSJ.

================================================

THE CLINTON CORZINE CONNECTION: The NY Post reported Dec 2011 that Teneo was advising MF Global, the doomed international brokerage firm headed by former New Jersey Gov. Jon Corzine (and ex-US Senator). The firm paid Teneo an eye-popping $125,000 a month as it was imploding and losing millions for its investors. Bill Clinton was also pocketing at MF Global--- an astounding $50,000 per month.

EXHIBIT ONE Corzine was fresh out of Goldman Sachs executive suite, buying his NJ Senate seat office for $65 million; then buying the NJ governorship. Out of office, he ran a hedge fund where $1.5 B went missing....its advisor Teneo was connected to both Bill Clinton and then-Secy of State Hillary's top aide Huma Abedin.

EXHIBIT TWO When Chelsea Clinton's husband started a hedge fund, he gained access to investors who had ties to the Clintons and to Goldman Sachs. Back in 2011, Mezvinsky, now 37, and two former Goldman Sachs'ers — Bennett Grau and Mark Mallon — began raising money for Mezvinsky's Eaglevale Partners LP hedge fund.

Some of Mezvinsky's "investors" included Goldman Sachs CEO Lloyd Blankfein. Blankfein, a slavish Democrat supporter, said he had "always been a fan of Hillary Clinton."

The WSJ reported extensively on the hedge fund's underperformance since its inception and Mezvinsky's mediocre investing and strategizing.

==========================================

THIS JUST IN---Bloomberg is reporting G/S's CEO Lloyd Blankfien is a newly-minted billionaire---and also has his own Foundation.

Mmmmmmmm....the sound of wire-transfers is almost palpable.

The IRS says the biggest tax evasion fraud is one Foundation writing a check to another Foundation. The check receiver takes a cut, then wire-transfers the bulk to an offshore bank for the check-writer's use later ----- the way these "humanitarians" skim off-tax free dollars for themselves.

[lee martell]

That is a very good question.
Makes me wonder how Chelsea’s husband deals with essentially being A Made Man on a short, glittery leash.

[Liz]

Chelsea's FIL, former Democratic congressman Edward Mezvinsky, sat on the House Judiciary Committee that decided the fate of Richard Nixon. He was outspoken saying that Nixon was a crook and a disgrace to politics and the nation and should be impeached.

Later, Mezvinsky served seven years in prison for stealing money from his friends, family and associates through a series of crude scams. Sap-happy Mezvinsky was targeted as a likely subject for the infamous Nigerian black ink scam. More below.

Edward, a lawyer, was married when he met Chelsea's MIL, Marjorie----they soon got married---but divorced after Edward got conned into several notorious Nigerian-based email financial frauds guaranteed to make you rich.

In his haste to get rich quick, to raise money to get in on these "heaven-sent" investment schemes, Edward defrauded many of his friends and business contacts.....including Marjorie's mother.

Alas, when the Nigerians got their hands on Ed's money, they did a 23 skidoo. Having failed to come up w/ investor payback, Edward got nabbed by the long arm of the law. Mezvinsky pleaded guilty to 31 of 69 felony counts. He did hard time----spent 7+ years in a federal prison w/ no chance of parole, and still owes $10 million in restitution.

Democrat Congressional 2014 candidate Marjory Margolies is also no stranger to the dollar disease. Because of her husband's felony convictions, she filed for bankruptcy. But the court would NOT discharge her of her debts, finding that she could NOT explain where some $1 million in assets had vanished, in the previous 4 year span...during Mezvitsky's crime spree.

In their heyday, Ed Mezvinsky and then-wife Marjorie, herself a former Democratic congresswoman from Pennsylvania (an ex-TV reporter---and recent election loser), were part of the political and social elite in Philadelphia.

The Mezvinskys were close to Bill and Hillary Clinton and were frequent guests at the White House. Prosecutors say Mezvinsky exploited his ties to the Clintons, including his son's relationship with Chelsea, to woo investors to contribute more money to the Nigerian schemes.

In an interview with Des Moines Register from prison in 2003, Mezvinsky said he found the notoriously fraudulent Nigerian Black Ink scam "convincing."

"The Nigerian man came out with a chemical, threw it on the money, and it all turned to $100 bills. He gave me 10 to have them tested back home. And they were real," Mezvinsky told a reporter.

LOSSES GALORE: 2014 candidate Marjorie was flacked by the Clintons but lost her bid to get back into Congress.

[SWAMPSNIPER]

Imagine being Marc the first time he saw Chelsea without make up, it’s a wonder he hasn’t jumped from a high building yet.

[A Formerly Proud Canadian]

Was he related to David Walsh of Bre-x Gold fame?

I recall ‘investors’ (aka speculators) after the initial fall when the ‘salting’ of the Busang drilling samples was revealed, bought the then penny stocks, and when trading was halted, they screamed for government bailout. If you buy a VERY risky ‘investment’, that you KNOW is bad, (like an MF based on defaulting Greek bank stocks and government debt, or a gold miner, whose test drilling results are a proven fraud), I have no pity. You KNOW the risk, yet ‘invest’ in it. If however, you sell it to uneducated investors, like widows and orphans, THEN you should be prosecuted fully.

[utahagen]

In fairness to Chelsea Clinton, at least she is well groomed and tastefully dressed. I've seen her husband around NYC and he is a schlep: cheap, ill-fitting suits, bad haircut, needs a shave. Major league loser.

[mastertex]

The reason the Clinton’s only have one child.....”a picture of Chelsea as a baby on the night stand” Poor child......dumb shit husband. Not to worry he can borrow money from the CCF..............Clinton Crime Family!!!

[chit*chat]

They should put him to work at the Clinton foundation until he learns the ropes. If he had any intelligence he would not have married into that family.

[Vinnie]

Flat broke, just like Mom. /s

[castlegreyskull]

I can invest better using a dart board.

[heights]

Translation: We stole everything we could get our hands on, its time to split.....

[JeffChrz]

How do financial companies deal with employees whose funds have crashed so badly?

Is an employee who doesn’t have family connections to the Clintons likely to be fired?

[longtermmemmory]

follow the money. This screams of connections where some rich manager suckered people. Somebody made money.