DOCSLIB.ORG

SENATE—Wednesday, March 21, 2012

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SENATE—Wednesday, March 21, 2012 March 21, 2012 CONGRESSIONAL RECORD—SENATE, Vol. 158, Pt. 3 3753 SENATE—Wednesday, March 21, 2012 The Senate met at 9:30 a.m. and was SCHEDULE The uninsured people show up at hos- called to order by the Honorable Mr. REID. Madam President, fol- pitals. They are not pushed away; they KIRSTEN E. GILLIBRAND, a Senator from lowing leader remarks the Senate will are invited in. They receive the treat- the State of New York. be in a period of morning business for ment. Then they can’t pay for it. 1 hour, with the majority controlling It turns out that 63 percent of the PRAYER the first half and the Republicans con- medical care given to uninsured people The Chaplain, Dr. Barry C. Black, of- trolling the final half. in America isn’t paid for—not by them. fered the following prayer: Following morning business the Sen- It turns out the rest of us pay for it. Let us pray. ate will resume consideration of the Everyone else in America who has O God, who loves us without ceasing, capital formation bill. At approxi- health insurance has to pick up the we turn our thoughts toward You. Re- mately 10:40 this morning, there will be cost for those who did not accept their main with our Senators today so that a cloture vote on the IPO bill. personal responsibility to buy health for no single instance they will be un- insurance. f aware of Your providential power. So, so what? What difference does We thank You for Your infinite love RESERVATION OF LEADER TIME that make? It makes a difference. It adds $1,000 a year to our health insur- that permits us to make mistakes yet Mr. REID. Will the Chair announce still grow in grace and a knowledge of ance program. In other words, you and the business of the day. me and everyone with health insurance You. Lord, save us from any evil course The ACTING PRESIDENT pro tem- or idle path that leads away from Your is subsidizing those people who say: pore. Under the previous order, the Don’t mandate anything on me. Don’t will. Today, we pray for the President leadership time is reserved. of the United States and for the leaders tell me I have a personal responsi- in every land. Help them to bear their f bility. But when I get sick, you can pay responsibilities with honor, and, Lord, MORNING BUSINESS for it.That is what the individual man- today we also thank You for the amaz- date comes down to. The ACTING PRESIDENT pro tem- ing career of Senator BARBARA MIKUL- I listen to those who say, well, this is pore. Under the previous order, the SKI. just too darn much government to say Senate will be in a period of morning We pray in Your holy Name. Amen. that people who can afford it need to business for 1 hour, with Senators per- have health insurance. Keep in mind, f mitted to speak therein for up to 10 this health care bill says if people can- PLEDGE OF ALLEGIANCE minutes, with the time equally divided not afford it—if they are too poor or and controlled between the two leaders their income is limited—there is a The Honorable KIRSTEN E. GILLI- or their designees, with the majority helping hand, not only in the Tax Code BRAND led the Pledge of Allegiance as controlling the first half and the mi- but even through Medicaid to make follows: nority controlling the final half. sure they have affordable health care I pledge allegiance to the Flag of the The Senator from Illinois. insurance which will never cost them United States of America, and to the Repub- more than 8 percent of their income. A lic for which it stands, one nation under God, f indivisible, with liberty and justice for all. lot of American families would jump at AFFORDABLE HEALTH CARE ACT health insurance that would only cost 8 f Mr. DURBIN. Madam President, percent of their income. But the law APPOINTMENT OF ACTING there has been a lot of discussion about says people have to be willing to pay PRESIDENT PRO TEMPORE the affordable health care act passed up to 8 percent of their income to have by Congress. In fact, just next week, health insurance. The reason, of The PRESIDING OFFICER. The across the street, the Supreme Court course, is if they don’t pay, everyone clerk will please read a communication will take up this bill and decide wheth- else pays. If they get sick, they cost us to the Senate from the President pro er it is constitutional. It is an impor- $116 billion a year in uncompensated tempore (Mr. INOUYE). tant decision. It is one that will affect health care coverage paid for those who The assistant legislative clerk read millions of Americans, and scarcely do not accept their personal responsi- the following letter: anyone understands the impact of this bility to buy health insurance. U.S. SENATE, law and what it means to their daily Ruth Marcus has an article in this PRESIDENT PRO TEMPORE, lives. morning’s Washington Post, and I ask Washington, DC, March 21, 2012. To the Senate: The first aspect I wish to speak about unanimous consent that it be printed Under the provisions of rule I, paragraph 3, is the most controversial aspect of it, in the RECORD. of the Standing Rules of the Senate, I hereby the so-called individual mandate. What There being no objection, the mate- appoint the Honorable KIRSTEN E. GILLI- is it? From my point of view, it is a rial was ordered to be printed in the BRAND, a Senator from the State of New basic method of saying to everyone in RECORD, as follows: York, to perform the duties of the Chair. America: You have a personal responsi- [From the Washington Post, Mar. 20, 2012] DANIEL K. INOUYE, bility. You cannot say you are just not 116 BILLION REASONS TO BE FOR THE President pro tempore. going to buy any health insurance; INDIVIDUAL MANDATE Mrs. GILLIBRAND thereupon as- that you don’t think you are ever going (By Ruth Marcus) sumed the chair as Acting President to need it and are not going to worry The most compelling sentences in the pro tempore. about it. Obama administration’s brief defending the f The problem is, of course, those peo- constitutionality of the health-care law ple who make that statement get sick. come early on. ‘‘As a class,’’ the brief advises RECOGNITION OF THE MAJORITY Some of them get involved in acci- on Page 7, ‘‘the uninsured consumed $116 bil- LEADER lion of health-care services in 2008.’’ dents. Some go to a doctor and are di- On the next page, the brief drives the point The ACTING PRESIDENT pro tem- agnosed with terrible illnesses and dis- home: ‘‘In 2008, people without insurance did pore. The majority leader is recog- eases that require treatment and sur- not pay for 63 percent of their health-care nized. gery, and that costs a lot of money. costs.’’ ● This ‘‘bullet’’ symbol identifies statements or insertions which are not spoken by a Member of the Senate on the floor. VerDate Sep 11 2014 08:41 Mar 24, 2017 Jkt 019102 PO 00000 Frm 00001 Fmt 0686 Sfmt 0634 E:\BR12\S21MR2.000 S21MR2 rmajette on DSK2TPTVN1PROD with BOUND RECORD 3754 CONGRESSIONAL RECORD—SENATE, Vol. 158, Pt. 3 March 21, 2012 Those figures amount to a powerful refuta- their employers,’’ favorability toward the Really? Do you want to explain that to tion of the argument that the individual mandate nearly doubled, to 61 percent. 2.5 million families who have the peace mandate—the requirement that individuals Favorable attitudes rose to nearly half of mind that their son or daughter is when people were told that without the man- obtain insurance or pay a penalty—exceeds covered with health insurance up to the government’s authority to regulate date, insurance companies would still be al- interstate commerce. To me, $116 billion lowed to deny coverage to those who are the age of 26? seems like a whole lot of commerce. sick; that without the mandate people would How about the seniors paying for But let’s leave the Supreme Court justices wait until they were sick to purchase insur- their Medicare prescription drug bills. to hack their way through the underbrush of ance, driving up premium costs; or that There was this doughnut hole, which the Commerce Clause. Because those num- those unable to afford coverage are exempt. means if seniors have prescription bers are not only relevant to Commerce ‘‘People don’t understand how the mandate drugs covered by Medicare and they are works at all and they don’t understand why Clause jurisprudence, they illuminate the expensive, they will reach a point dur- fundamental irrationality of public opposi- it’s there,’’ Kaiser’s polling director, Mollyann Brodie, told me. ing the course of a year when they tion to the individual mandate. have to go into their savings to pay for The mandate is by far the most unpopular Brodie suspects that it’s too late to change feature of a law on which Americans are oth- minds. ‘‘This law as a whole has really be- about $2,000 worth of prescription drugs erwise evenly divided. A Kaiser Family come a symbolic issue to people and they before the government comes back and Foundation poll this month found that two- really aren’t open to information,’’ she said.
Load more

Recommended publications
  • Here a Causal Relationship? Contemporary Economics, 9(1), 45–60
    Bibliography on Corruption and Anticorruption Professor Matthew C. Stephenson Harvard Law School http://www.law.harvard.edu/faculty/mstephenson/ March 2021 Aaken, A., & Voigt, S. (2011). Do individual disclosure rules for parliamentarians improve government effectiveness? Economics of Governance, 12(4), 301–324. https://doi.org/10.1007/s10101-011-0100-8 Aaronson, S. A. (2011a). Does the WTO Help Member States Clean Up? Available at SSRN 1922190. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1922190 Aaronson, S. A. (2011b). Limited partnership: Business, government, civil society, and the public in the Extractive Industries Transparency Initiative (EITI). Public Administration and Development, 31(1), 50–63. https://doi.org/10.1002/pad.588 Aaronson, S. A., & Abouharb, M. R. (2014). Corruption, Conflicts of Interest and the WTO. In J.-B. Auby, E. Breen, & T. Perroud (Eds.), Corruption and conflicts of interest: A comparative law approach (pp. 183–197). Edward Elgar PubLtd. http://nrs.harvard.edu/urn-3:hul.ebookbatch.GEN_batch:ELGAR01620140507 Abbas Drebee, H., & Azam Abdul-Razak, N. (2020). The Impact of Corruption on Agriculture Sector in Iraq: Econometrics Approach. IOP Conference Series. Earth and Environmental Science, 553(1), 12019-. https://doi.org/10.1088/1755-1315/553/1/012019 Abbink, K., Dasgupta, U., Gangadharan, L., & Jain, T. (2014). Letting the briber go free: An experiment on mitigating harassment bribes. JOURNAL OF PUBLIC ECONOMICS, 111(Journal Article), 17–28. https://doi.org/10.1016/j.jpubeco.2013.12.012 Abbink, Klaus. (2004). Staff rotation as an anti-corruption policy: An experimental study. European Journal of Political Economy, 20(4), 887–906. https://doi.org/10.1016/j.ejpoleco.2003.10.008 Abbink, Klaus.
    [Show full text]
  • Regulation of Dietary Supplements Hearing
    S. HRG. 108–997 REGULATION OF DIETARY SUPPLEMENTS HEARING BEFORE THE COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION UNITED STATES SENATE ONE HUNDRED EIGHTH CONGRESS FIRST SESSION OCTOBER 28, 2003 Printed for the use of the Committee on Commerce, Science, and Transportation ( U.S. GOVERNMENT PUBLISHING OFFICE 20–196 PDF WASHINGTON : 2016 For sale by the Superintendent of Documents, U.S. Government Publishing Office Internet: bookstore.gpo.gov Phone: toll free (866) 512–1800; DC area (202) 512–1800 Fax: (202) 512–2104 Mail: Stop IDCC, Washington, DC 20402–0001 VerDate Nov 24 2008 11:04 May 24, 2016 Jkt 075679 PO 00000 Frm 00001 Fmt 5011 Sfmt 5011 S:\GPO\DOCS\20196.TXT JACKIE SENATE COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION ONE HUNDRED EIGHTH CONGRESS FIRST SESSION JOHN MCCAIN, Arizona, Chairman TED STEVENS, Alaska ERNEST F. HOLLINGS, South Carolina, CONRAD BURNS, Montana Ranking TRENT LOTT, Mississippi DANIEL K. INOUYE, Hawaii KAY BAILEY HUTCHISON, Texas JOHN D. ROCKEFELLER IV, West Virginia OLYMPIA J. SNOWE, Maine JOHN F. KERRY, Massachusetts SAM BROWNBACK, Kansas JOHN B. BREAUX, Louisiana GORDON SMITH, Oregon BYRON L. DORGAN, North Dakota PETER G. FITZGERALD, Illinois RON WYDEN, Oregon JOHN ENSIGN, Nevada BARBARA BOXER, California GEORGE ALLEN, Virginia BILL NELSON, Florida JOHN E. SUNUNU, New Hampshire MARIA CANTWELL, Washington FRANK R. LAUTENBERG, New Jersey JEANNE BUMPUS, Republican Staff Director and General Counsel ROBERT W. CHAMBERLIN, Republican Chief Counsel KEVIN D. KAYES, Democratic Staff Director and Chief Counsel GREGG ELIAS, Democratic General Counsel (II) VerDate Nov 24 2008 11:04 May 24, 2016 Jkt 075679 PO 00000 Frm 00002 Fmt 5904 Sfmt 5904 S:\GPO\DOCS\20196.TXT JACKIE C O N T E N T S Page Hearing held on October 28, 2003 .........................................................................
    [Show full text]
  • Reggie Huff, Et Al Vs. Firstenergy Corp., Et Al
    Case: 5:12-cv-02583-SL Doc #: 31 Filed: 09/17/13 1 of 41. PageID #: <pageID> UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF OHIO EASTERN DIVISION REGGIE HUFF, et al., ) CASE NO. 5:12CV2583 ) PLAINTIFFS, ) JUDGE SARA LIOI ) vs. ) ) MEMORANDUM OPINION ) ) FIRSTENERGY CORP., et al., ) ) DEFENDANTS. ) On October 16, 2012, plaintiffs, Reggie Huff and Lisa Huff, filed a pro se complaint in this Court alleging: violations of the federal Racketeer Influenced and Corrupt Organizations Act (“federal RICO”), 18 U.S.C. §§ 1962(b), (c), and (d); violations of Ohio’s “corrupt activity” law (“Ohio RICO”), Ohio Rev. Code § 2923.32;1 conspiracy under federal and Ohio law; and violations of their civil rights under 42 U.S.C. § 1983 (Doc. No. 1, Complaint). Plaintiffs originally named eleven defendants (not counting John Doe defendants), including corporate entities, private individuals, and current and former Ohio Supreme Court justices. The complaint further alleged a vast conspiracy to deprive plaintiffs of their right to a fair disposition of a personal injury action in state court. The allegations in the 43-page complaint are confusing, rambling, and, at times, inflammatory. Although much thought and attention appears to have gone into its 1 Ohio Rev. Code § 2923.34 provides individuals with a civil cause of action for violations of § 2923.32, which is otherwise a criminal statute. Case: 5:12-cv-02583-SL Doc #: 31 Filed: 09/17/13 2 of 41. PageID #: <pageID> preparation, the complaint is ultimately held together by a string of conclusory allegations.2 These allegations were immediately met with a motion to dismiss (Doc.
    [Show full text]
  • Honest Services Fraud in the Private Sector I-1
    Honest Services Fraud in the Private Sector I-1 Honest Services Fraud in the Private Sector Raymond Banoun Catherine Razzano Rajal Patel Lex Urban1 Cadwalader, Wickersham & Taft LLP Washington, D.C. Honest services fraud, also known as the “in- standards and requirements for such a prosecution tangible rights” theory of mail and wire fraud, has against a public official have been better defined been the subject of controversy both before and than those involving persons in the private sector. after the Supreme Court’s decision in McNally v. This is understandable as the justification for ap- United States, 483 U.S. 350 (1987). Prior to Mc- plying section 1346 to public officials is evident; Nally, the mail and wire fraud statutes proscribed a violation of honest services by a public official schemes to defraud others of tangible property or through corruption or self-dealing that breaches financial interests, and of the intangible right to “the essence of the political contract.” See United honest services. In the 1970’s and early 1980’s, States v. Jain, 93 F.3d 436, 441 (8th Cir. 1996). prosecutors regularly relied on 18 U.S.C. §§1341 Although Congress may have intended to apply and 1343 to charge public officials or private sec- section 1346 to the private sector, its failure to tor employees for devising such schemes to com- specifically state that intent has left prosecutors mit fraud where either the U.S. mail or interstate with the discretion and ability to criminalize con- wires were used. The McNally decision ended duct in private industry that may not otherwise be this practice by holding that these statutory provi- illegal.
    [Show full text]
  • "Honest Services" Fraud – Strong Medicine for "Pay to Play"
    "Honest Services" Fraud – Strong Medicine for "Pay to Play" Ian D. Lanoff Mark C. Nielsen Groom Law Group, Chartered NAPPA Winter Meeting February, 2006 -2- This article provides brief guidance as to the manner in which courts have interpreted 18 U.S.C. § 1346, which generally provides that for purposes of federal mail and wire fraud statutes (18 U.S.C. §§ 1341 and 1343, respectively), a "scheme or artifice to defraud" includes a "scheme or artifice to deprive another of the intangible right to honest services." Specifically, this article examines the manner in which courts have interpreted the broad language of § 1346 in circumstances that do not involve the explicit bribery of public officials. I. Background 18 U.S.C. § 1346 was enacted in 1988, for purposes of reversing the Supreme Court's decision in McNally v. U.S., 483 U.S. 350 (1987). In McNally, the Supreme Court overruled a long line of lower court decisions by holding that the federal mail and wire fraud statutes did not encompass schemes to defraud citizens of an intangible right to honest government service from pubic officers. Id. at 355. By enacting 18 U.S.C. § 1346, Congress restored "honest services" within the ambit of the federal mail and wire fraud statutes, meaning that a scheme to deprive the public of "honest services" by a public official could be punished as mail or wire fraud (assuming, of course, that such an instrumentality was used as part of the scheme or artifice). II. Judicial Interpretations of the "Honest Services" Fraud A. General Parameters of the Statute Not surprisingly, the majority of cases that have analyzed the "honest services" fraud set forth in 18 U.S.C.
    [Show full text]
  • January 2019 Revisions (PDF)
    O50.1 Mail Fraud 18 U.S.C. § 1341 It’s a Federal crime to [use the United States mail] [transmit something by private or commercial interstate carrier] in carrying out a scheme to defraud someone. The Defendant can be found guilty of this crime only if all the following facts are proved beyond a reasonable doubt: (1) the Defendant knowingly devised or participated in a scheme to defraud someone by using false or fraudulent pretenses, representations, or promises; (2) the false or fraudulent pretenses, representations, or promises were about a material fact; (3) the Defendant intended to defraud someone; and (4) the Defendant used [the United States Postal Service by mailing or by causing to be mailed] [a private or commercial interstate carrier by depositing or causing to be deposited with the carrier] something meant to help carry out the scheme to defraud. [A “private or commercial interstate carrier” includes any business that transmits, carries, or delivers items from one state to another. It doesn’t matter whether the message or item actually moves from one state to another as long as the message or item is delivered to the carrier.] 1 A “scheme to defraud” means any plan or course of action intended to deceive or cheat someone out of money or property using false or fraudulent pretenses, representations, or promises. A statement or representation is “false” or “fraudulent” if it is about a material fact, it is made with intent to defraud, and the speaker either knows it is untrue or makes it with reckless indifference to the truth.
    [Show full text]
  • Supreme Court of the United States ______
    No. 12-1462 IN THE Supreme Court of the United States __________________________ KEVIN A. RING, Petitioner, v. UNITED STATES OF AMERICA, Respondent. __________________________ On Petition for a Writ of Certiorari to the United States Court of Appeals for the District of Columbia Circuit __________________________ PETITION FOR A WRIT OF CERTIORARI __________________________ TIMOTHY P. O’TOOLE Counsel of Record ANDREW T. WISE MILLER & CHEVALIER CHARTERED 655 15th St. NW, Suite 900 Washington, D.C. 20005 (202) 626-5800 E-mail: [email protected] DAVID A. MORAN 701 South State Street Ann Arbor, Michigan 48109 (734) 615-5419 E-mail: [email protected] i QUESTIONS PRESENTED In this criminal prosecution of a lobbyist based on a theory of “excessive hospitality,” two important ques- tions are presented: (1) Whether a defendant can be convicted of the of- fense of honest-services-fraud-by-bribery as defined in this Court’s decision in United States v. Skilling, 130 S. Ct. 2896 (2010), in the absence of a quid pro quo bribery agreement. (2) Whether the First Amendment permits jurors to consider evidence of a lobbyist’s legal campaign contributions, permissibly made to express appre- ciation toward and provide election assistance to political officials, as probative of whether the lobby- ist engaged in corruption by putting other things of value to similar use. ii TABLE OF CONTENTS Page QUESTION PRESENTED .........................................i TABLE OF AUTHORITIES ......................................v OPINIONS BELOW...................................................1 STATEMENT OF JURISDICTION ..........................1 CONSTITUTIONAL AND STATUTORY PROVISIONS INVOLVED........................................2 STATEMENT OF THE CASE...................................2 REASONS FOR GRANTING THE PETITION........8 I. THE COURT SHOULD GRANT CERTI- ORARI TO CONSIDER WHETHER AN HONEST SERVICES FRAUD CONVIC- TION CAN STAND WITHOUT PROOF OF A QUID PRO QUO BRIBERY AGREEMENT ................................................
    [Show full text]
  • Vol LIV, Issue 1
    page 2 the paper september 11, 2019 JUUL Epidemic pg. 3 Choir Crisis pg. 9 Anime Review pg. 15 Features & Lists pg. 20 Wax pg. 22 the paper “Which core class are you?” c/o Office of Student Involvement Editors-in-Chief Fordham University Jack “Classical Music History” Archambault Bronx, NY 10458 Meredith “Comp II” Mclaughlin [email protected] Executive Editor http://fupaper.blog/ Gabby “Texts and Contexts” Curran the paper is Fordham’s journal of news, analysis, comment and review. Students from all News Editors years and disciplines get together biweekly to produce a printed version of the paper using Christian “Understanding Historical Change” Decker Adobe InDesign and publish an online version using Wordpress. Photos are “borrowed” from Noah “Finite Math” Kotlarek Internet sites and edited in Photoshop. Open meetings are held Tuesdays at 9:00 PM in McGin- Opinions Editors ley 2nd. Articles can be submitted via e-mail to [email protected]. Submissions from Liv “Advanced Social Science” Langenberg students are always considered and usually published. Our staff is more than willing to help Angelina “Eloquentia Perfecta 1” Zervos new writers develop their own unique voices and figure out how to most effectively convey their thoughts and ideas. We do not assign topics to our writers either. The process is as follows: Arts Editors have an idea for an article, send us an e-mail or come to our meetings to pitch your idea, write Katelynn “Philosophy of Human Nature” Browne the article, work on edits with us, and then get published! We are happy to work with anyone Ashley “Advanced Literature” Wright who is interested, so if you have any questions, comments or concerns please shoot us an e- Earwax Editor mail or come to our next meeting.
    [Show full text]
  • Honest Services Fraud and Antitrust: Will the Supreme Court Re-Write the Rules for “C Ompetition Crimes ”?
    WLF Legal Backgrounder Washington Legal Foundation Advocate for freedom and justice ® 2009 Massachusetts Avenue, NW Washington, DC 20036 202.588.0302 Vol. 24 No. 41 December 11, 2009 HONEST SERVICES FRAUD AND ANTITRUST: WILL THE SUPREME COURT RE-WRITE THE RULES FOR “C OMPETITION CRIMES ”? by J. Brady Dugan and Mark J. Botti The trio of honest services fraud cases to be decided by the Supreme Court this term – U.S. v. Black , U.S. v. Skilling and U.S. v. Weyhrauch – have the potential to effect a major change in criminal enforcement policy at the Antitrust Division of the Department of Justice (“the Division”). The Division has increasingly used the honest services fraud statute to prosecute competition crimes involving bribes and kickbacks. While the Division has had success using this broadly-worded statute, it has not, to date, provided much guidance to the business community regarding the boundaries to which the statute extends. With these cases, the Supreme Court is poised, at last, to provide guidance to both prosecutors and the business community on what it means to violate the honest services fraud statute. The Antitrust Division Brings a Significant Number of Fraud Prosecutions The Antitrust Division is responsible for criminal enforcement of “the Federal antitrust laws and other laws relating to the protection of competition . .” 1 Its enforcement of “other laws relating to the protection of competition,” gives it the ability to use a variety of fraud statutes, including the mail and wire fraud, tax fraud, and money-laundering statutes. When the Division uses these statutes, it is careful to do so within its mandate to protect competition.
    [Show full text]
  • GC and CCO Risks and Safeguards: Ethics in Practice Marc E
    GC and CCO Risks and Safeguards: Ethics in Practice Marc E. Elovitz Marc is the chair of SRZ’s Investment Management Regulatory & Compliance Group. He advises private fund managers on compliance with the Investment Advisers Act of 1940 and other federal, state and self-regulatory organization requirements, including establishing compliance programs, registering with the SEC and CFTC, and on handling SEC and NFA examinations. Marc provides guidance to Partner clients on securities trading matters and represents them in regulatory New York Office +1 212.756.2553 investigations and enforcement actions, arbitrations and civil litigation. [email protected] He also regularly leads training sessions for portfolio managers, analysts and traders on complying with insider trading and market manipulation laws, and has developed and led compliance training sessions for Practices marketing and investor relations professionals. Marc works closely with Regulatory & Compliance clients undergoing SEC examinations and responding to deficiency Hedge Funds letters and enforcement referrals. He develops new compliance testing programs in areas such as trade allocations and conflicts of interest. Investment Management He also leads macro-level compliance infrastructure reviews with fund Litigation managers, identifying the material risks specific to each particular firm and evaluating the compliance programs in place to address those risks. The Legal 500 United States, Who’s Who Legal: The International Who’s Who of Private Funds Lawyers and New York Super Lawyers have recognized Marc as a leading lawyer in his field. He is a member of the Steering Committee of the Managed Funds Association’s Outside Counsel Forum, the American Bar Association’s Hedge Funds Subcommittee and the Private Investment Funds Committee of the New York City Bar Association.
    [Show full text]
  • Case 1:10-Cv-03959-LGS-DCF Document 406 Filed 06/20/16 Page 1 of 165
    Case 1:10-cv-03959-LGS-DCF Document 406 Filed 06/20/16 Page 1 of 165 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NY JODY KRISS and MICHAEL EJEKAM, directly and derivatively on behalf of BAYROCK GROUP LLC, BAYROCK SPRING STREET LLC; and BAYROCK WHITESTONE LLC; Plaintiffs, v. BAYROCK GROUP LLC; TEVFIK ARIF; JULIUS SCHWARZ; VERIFIED FELIX SATTER; BRIAN HALBERG; SALVATORE LAURIA; COMPLAINT ALEX SALOMON; JERRY WEINRICH; SALOMON & COMPANY PC; AKERMAN SENTERFITT LLP; MARTIN DOMB; CRAIG BROWN; JURY TRIAL DUVAL & STACHENFELD LLP; BRUCE STACHENFELD; DEMANDED DAVID GRANIN; NIXON PEABODY LLP; ADAM GILBERT; ROBERTS & HOLLAND LLP; ELLIOT PISEM; MICHAEL SAMUEL; MEL DOGAN; BAYROCK SPRING STREET LLC; JOHN DOES 1-100; BAYROCK WHITESTONE LLC; BAYROCK CAMELBACK LLC: BAYROCK MERRIMAC LLC; BAYROCK GROUP INC.; and NATIONAL UNION FIRE INSURANCE CO. OF PITTSBURGH, PA.; Defendants and BAYROCK GROUP LLC, BAYROCK SPRING STREET LLC, and BAYROCK WHITESTONE LLC Nominal Defendants (Derivative Plaintiffs) Plaintiffs Jody Kriss (“Kriss”) and Michael Ejekam (“Ejekam”), through their counsel, allege: INTRODUCTION 1. Plaintiffs, members in and creditors of Bayrock limited liability companies, directly and derivatively seek relief from Arif, Satter, Schwarz, for violations of substantive and conspiracy provisions of the Racketeer Influenced and Corrupt Organizations Act; from Halberg, Salomon, Weinrich, Salomon & Co., Roberts & Holland, Pisem, Duval & Stachenfeld, Stachenfeld, Granin, Brown, and Dogan for violations of its conspiracy provision; and variously from all Defendants for violations of substantive, aid and abettance, and conspiracy provisions of state law. Case 1:10-cv-03959-LGS-DCF Document 406 Filed 06/20/16 Page 2 of 165 2. The Bayrock Organization (“Bayrock”) is a New York-based group of real estate businesses claiming to have developed, owned, or operated $5,000,000,000 of projects globally.
    [Show full text]
  • The Seventh Circuit's Refinement of Bloom's Private Gain Test For
    SEVENTH CIRCUIT REVIEW Volume 3, Issue 1 Fall 2007 MISSING THE FOREST FOR THE TREES: THE SEVENTH CIRCUIT’S REFINEMENT OF BLOOM’S PRIVATE GAIN TEST FOR HONEST SERVICES FRAUD IN UNITED STATES V. THOMPSON ∗ ROBERT J. LAPOINTE Cite as: Robert J. Lapointe, Missing the Forest for the Trees: The Seventh Circuit’s Refinement of Bloom’s Private Gain Test for Honest Services Fraud in United States v. Thompson, 3 SEVENTH CIRCUIT REV. 86 (2007), at http://www.kentlaw.edu/7cr/v3-1/lapointe.pdf. INTRODUCTION The mail fraud statue, once described as the federal prosecutor’s “Colt 45 [or] Louisville Slugger”1 is one of the federal government’s major weapons in the fight against political corruption.2 The statute proscribes using the mails to carry out “any scheme or artifice to defraud.”3 When first enacted, the mail fraud statute was limited to traditional frauds involving money or property.4 At the turn of the twentieth century, however, the United States Supreme Court ∗ J.D. candidate, May 2008, Chicago-Kent College of Law, Illinois Institute of Technology. 1 Jed S. Rakoff, The Federal Mail Fraud Statute (Part I), 18 DUQ. L. REV. 771, 771 (1980). 2 See Geraldine Szott Moohr, Mail Fraud Meets Criminal Theory, 67 U. CIN. L. REV. 1, 2 (1998); Joshua A. Kobrin, Note, Betraying Honest Services: Theories of Trust and Betrayal Applied to the Mail Fraud Statute and §§ 1346, 61 N.Y.U. ANN. SURV. AM. L. 779, 792 (2006); Carrie A. Tendler, Note, An Indictment of Bright Line Tests for Honest Services Mail Fraud, 72 FORDHAM L.
    [Show full text]