Loading ...
Sorry, an error occurred while loading the content.

Honest John Edwards Or Is It Jon Edwards A Member of The Terrible Trio

Expand Messages
  • fellowtruthteller
    Honest John Edwards Or Is It Jon Edwards A Member of The Terrible Trio While Edwards is the main topic of this piece we also discuss the other two members of
    Message 1 of 1 , May 29, 2007
      Honest John Edwards Or Is It Jon Edwards A Member of The Terrible Trio

      While Edwards is the main topic of this piece we also discuss the
      other two members of the Terrible Trio, Hillary Rodham Clinton and
      Barack Hussein Obama.
      How Honest IS Honest John Edwards?
      Or is it Jon Edwards?
      We are never quite sure of anything with Edwards. So, our first
      question is: Is it Jon Edwards or John Edwards? If anyone knows the
      answer to that one please post it.

      We start off with a little blurb on Edwards below:
      "May 18, 2007, c.e. Edwards's Hedge-Fund Tie Hurts Populist Campaign
      John Harwood reports from the Wall Street Journal's Capital Bureau.
      HEDGE-FUND MONEY fattens Edwards's wallet but hurts populist message.
      The Democratic presidential candidate's $1.7 million in pay and
      investment income from Fortress Investment Group gives target for
      rivals after his campaign emphasis on poverty. Edwards has explained
      Fortress affiliation as part of effort to learn about financial

      "What will get him in trouble is not the amount but rationales that
      seem false and weaselly to the voters," says Democratic pollster
      Geoff Garin. Edwards's campaign says he paid regular personal-income-
      tax rates on his $479,512 salary, not preferential "carried
      interest" rates some hedge-fund principals use.
      Of $29.5 million in assets Edwards reported to FEC, aides say
      investments in Fortress represent $16.1 million.
      John Edwards for President "

      OK, so who is Fortress Investment Group ? http://www.fortressinv.com/
      "Fortress Investment Group is a leading global alternative asset
      manager with approximately $36 billion in assets under management as
      of March 31, 2007. Fortress is headquartered in New York and has
      affiliates with offices in Dallas, Frankfurt, Geneva, Hong Kong,
      London, Los Angeles, Rome, San Diego, Sydney and Toronto.
      Fortress was founded in 1998 as an asset-based investment management
      firm with a fundamental philosophy premised on its alignment of
      interests with the investors in its funds. Fortress raises, invests
      and manages private equity funds, hedge funds and publicly traded
      alternative investment vehicles. Fortress intends to grow its
      existing businesses, while continuing to create innovative products
      to meet the increasing demand by sophisticated investors for
      superior risk-adjusted investment returns.....

      Wesley R. Edens
      Chief Executive Officer and Chairman of the Board of Directors
      Mr. Edens is the Chairman of the board of directors and the Chief
      Executive Officer of Fortress Investment Group LLC. Mr. Edens has
      been a principal and the Chairman of the Management Committee of
      Fortress since co-founding the Company in May 1998. Mr. Edens is
      responsible for the Fortress private equity and publicly traded
      alternative investment businesses. He is also the Chairman of the
      board of directors of each of Aircastle Limited, Brookdale Senior
      Living Inc., Eurocastle Investment Limited, GateHouse Media, Inc.,
      Mapeley Limited and Newcastle Investment Corp. and a director of
      Crown Castle International Corp. and GAGFAH S.A. Mr. Edens served as
      the Chief Executive Officer of Newcastle Investment Corp. since
      inception until February 2007. Mr. Edens was the Chief Executive
      Officer of Global Signal Inc. from February 2004 to April 2006 and
      the Chairman of the board of directors from October 2002 to January
      2007. Mr. Edens serves in various capacities in the following five
      registered investment companies: Chairman, Chief Executive Officer
      and Trustee of Fortress Registered Investment Trust and Fortress
      Investment Trust II; Chairman and Chief Executive Officer of
      Fortress Brookdale Investment Fund LLC and Fortress Pinnacle
      Investment Fund LLC and Chief Executive Officer of RIC Coinvestment
      Fund GP LLC. Prior to forming Fortress, Mr. Edens was a partner and
      a managing director of BlackRock Financial Management Inc., where he
      headed BlackRock Asset Investors, a private equity fund. In
      addition, Mr. Edens was formerly a partner and a managing director
      of Lehman Brothers. Mr. Edens received a B.S. in Finance from Oregon
      State University."

      We were curious about those firms so we did a little research on
      them and came up with:
      "Prison Realty Announces Restructuring Led By Fortress And
      Investor Group
      $350 Million Preferred Issue to Complement New $1.2 Billion Credit
      Facility; Company to Terminate REIT Status, Convert to Taxable
      Subchapter C Structure; New Management to Be Installed
      and New Board to Be Created NASHVILLE, Tenn., Dec.
      27 /PRNewswire/ -- The Board of Directors of Prison Realty Trust,
      Inc. (NYSE: PZN), today announced a comprehensive strategic
      restructuring program designed to reposition the company by
      strengthening its financial position, simplifying its corporate
      structure and creating a new management team and board of

      As part of the program, which requires shareholder
      approval, the company said an Investor Group led by an affiliate of
      Fortress Investment Group LLC and affiliates of The Blackstone
      Group, together with an affiliate of Bank of America, would
      purchase $315 million in securities at closing and commit to
      purchase an additional $35 million in securities (for a total of up
      to $350 million) in a newly configured company that would be
      created through the merger of Prison Realty and the companies
      collectively operating under the name Corrections Corporation of

      Existing Prison Realty shareholders would be offered
      the opportunity, through a rights offering, to "co-invest" up to
      $75 million with the Investor Group and to receive preferred stock
      and warrants with terms identical to the securities being purchased
      by the Investor Group (with the exception of certain types of
      voting rights).

      The Investor Group has agreed to acquire those
      securities and warrants not subscribed for by current shareholders
      to ensure the $350 million total. The combined company, which
      would operate under the Corrections Corporation of America name, is
      expected to be a taxable subchapter C corporation, as Prison Realty
      would terminate its status as a REIT, in connection with the
      restructuring. As part of the combination with CCA, outside, or
      non-management, shareholders of CCA will receive cash equal to
      their original investment. Management and other employees of CCA
      will receive shares of the new public company in exchange for their
      interest. The per share value to be received by them is
      approximately 40% of the per share value received by the outside
      shareholders, and their shares will be subject to certain vesting
      and lock up provisions.

      The transaction, upon completion, will
      have the effect of eliminating liquidity concerns of CCA, Prison
      Realty's primary tenant.

      "This is a highly focused, decisive action on behalf of this
      company," said Joseph V. Russell, Chairman
      of the Special Committee of the Board of Directors, which was
      created in August 1999 to identify a strategic investor to invest
      in Prison Realty and to review the company's financial alternatives
      and organizational structure.

      "We are returning this company to the
      corporate structure under which it achieved its greatest growth and
      success and through which it became the leading company in the
      private prison industry."

      "Importantly, we also believe the new
      credit facility and the investment by Fortress and Blackstone, will
      ensure that the company has the financial resources to prosper.
      Finally, as part of the restructuring, our new investors and we
      have concluded that meaningful changes are necessary in the
      composition of our management team and in the creation of a new
      Board of Directors. These actions directly address the Company's
      desire to re- establish credibility with shareholders and with the
      financial community."

      Additionally, the company announced that,
      pending shareholder approval of the transaction, no further
      dividends of any kind would be paid on its common stock.
      Management Changes As part of the restructuring, the Special
      Committee announced that Doctor R. Crants, Chairman and Chief
      Executive Officer of Prison Realty, would resign as CEO upon
      closing of the transaction. In addition, he is stepping down as
      Chairman, effective immediately.

      Following his resignation, Mr.
      Crants will be named to the non-executive position of Vice Chairman
      of the company and will serve as an advisor to the Board.
      Thomas W. Beasley, the former Chairman of the Board and one of
      three founders, along with Mr. Crants, of the original company in
      1983, will assume the position of Interim Chairman immediately and
      interim Chief Executive Officer following the closing of the
      transaction. J. Michael Quinlan will remain as President and Chief
      Operating Officer of CCA and will also serve as Interim President
      of Prison Realty, replacing D. Robert Crants, III, who also has
      resigned effective immediately.

      In addition, Mr. Beasley, along
      with Fortress and Blackstone, will oversee a nationwide search for
      a new Chief Executive Officer and a new Chief Financial Officer for
      the combined company.

      Financing Arranged upon completion
      of the restructuring, the combined company will have a $1.2 billion
      new term loan and revolving credit facility from a group led by
      Credit Suisse First Boston and Lehman Brothers. The facility would
      replace Prison Realty's existing $1 billion credit facility.
      In addition, up to $350 million will be generated from the sale of a
      new issue of 12% cumulative convertible preferred stock and
      warrants, primarily to the Investor Group.

      The new issue would be
      convertible into the combined company's common stock at a price of
      $6.50 per share and the warrants would be exercisable at $7.50 per
      share. Depending on the degree to which existing shareholders
      participate in the rights offering, the Investor Group would own
      approximately 20% to 25% of the combined company and warrants to
      purchase between 11% and 14% of the combined company's common
      stock, on a fully diluted basis. Proceeds from the debt and
      equity financings will be used to refinance the company's existing
      bank debt and to provide capital to fund the company's continued
      growth. "We are extremely pleased with this important
      restructuring," stated Mr. Beasley.

      "The new credit facility is
      not only larger than the one it replaces, it also has more
      favorable terms, reflecting the lending community's renewed
      confidence in CCA. "In addition to providing a sizable infusion
      of new equity capital, our Board of Directors -- and the daily
      operation of our company -- will be enhanced by the active
      involvement of two of the nation's most successful investment

      We view these as positive steps and we are looking forward
      to working closely with our new partners." "This transaction is
      intended to position CCA once again as a growth company with
      tremendous prospects and re-establish transparency to shareholders
      regarding the fundamental strength of CCA's business. Our belief
      is that a greatly simplified and more efficient capital structure
      will allow the company to fund future growth internally and will
      assist the company in maximizing shareholder value," said Wesley R.
      Edens, Chairman and Chief Executive Officer of Fortress. Added
      Thomas J. Saylak, Senior Managing Director of The Blackstone
      Group, "CCA is the market leader in a growing industry. We believe
      this capital infusion and CCA's new corporate structure will allow
      the company to realize enhanced financial flexibility to maximize
      growth prospects.

      Over time, we believe this new direction will
      be recognized and rewarded by investors." Board of
      Directors As part of the restructuring, the new CCA would have
      a 10-person Board of Directors. Four persons would represent the
      Investor Group, and four persons, including Mr. Beasley, Mr.
      Russell, and Jean-Pierre Cuny, would be drawn from the existing
      Prison Realty Board. Two new independent directors, subject to the
      approval of the Investor Group and the current board, also would be

      In addition to being subject to
      the approval of Prison Realty's shareholders, the transaction is
      subject to certain financial and non- financial conditions, which
      the company expects to be satisfied prior to the closing. The
      transaction will also require customary regulatory review. It is
      expected that the shareholder vote would take place in March or
      April 2000, and that the transaction would close in the second
      quarter of 2000.

      About the Companies Prison Realty's
      business is the ownership of correctional and detention
      facilities. The company provides financing, design, construction
      and renovation of new and existing jails and prisons that it leases
      to both private and governmental managers. At September 30, 1999,
      the company owned, or was in the process of developing, 51
      correctional and detention facilities, of which 40 facilities were
      operating, eight were under construction or expansion and three
      were in the planning stages.

      At September 30, 1999, CCA leased 32
      facilities from the company, government agencies leased five
      facilities, and private operators leased three facilities.
      Fortress Investment Group LLC is a real estate investment and asset
      management company with headquarters in New York City. Fortress was
      founded in April 1998 by a group of senior professionals led by
      Wesley R. Edens. Fortress manages approximately $760 million of
      private equity, and invests primarily in undervalued real estate-
      related assets and companies on a domestic and international

      The Blackstone Group is a private investment bank in New
      York City. It was founded in 1985 by its Chairman, Peter G.
      Peterson, and its President and CEO, Stephen A. Schwarzman.
      Blackstone is engaged in six business areas including Corporate
      Principal Investing, Private Equity Real Estate Investing, Mergers
      and Acquisition Advisory, Restructuring and Reorganization
      Advisory, Private Mezzanine Investing, and Liquid Alternative Asset
      Investing. Merrill Lynch & Co. acted as advisor to the Board of
      Directors and Special Committee of Prison Realty, as well as the
      Board of Directors of CCA.

      Disclaimer on Forward Looking
      Statements This news release contains statements that are
      forward looking, including statements relating to the amount and
      timing of the proposed offering transactions. These statements are
      not projections or assured results. Actual results may differ
      materially from the results anticipated in the forward looking
      statements due to a variety of factors, including but not limited
      to, changing market conditions.

      Additional factors will be
      described in the company's filings with the SEC. The company does
      not undertake an obligation to update its forward-looking
      statements to reflect future events or circumstances. Accordingly,
      individuals should not place undue reliance on such
      statements. Note: The company will schedule a conference call
      with analysts and the media the week of January 3 to further
      discuss the transaction.

      SOURCE Prison Realty Trust, Inc."
      So let us get this straight, If we follow the money of Honest John?
      or is it Jon? Edwards?

      "Of $29.5 million in assets Edwards reported to FEC, aides say
      investments in Fortress represent $16.1 million." Seems like a
      pretty big chunk to us.
      And Fortress is involved with Prison Realty per the material above.
      And Edwards, let's forget about whatever his first name actually
      turns out to be, Edwards wants to be President of the United States.
      In that job Edwards could really influence a lot of things,
      including, for instance things affecting prisons. Hmmmm? Did anyone
      say "conflict of interest"?

      Now let's take a little look at a few other things:
      Wesley R. Edens
      Chief Executive Officer and Chairman of the Board of Directors and
      the Chief Executive Officer of Fortress Investment Group LLC is also
      the Chairman of the board of directors of each of Aircastle Limited,
      aircastle clients
      › Aerosvit
      › Aigle Azur
      › Air Canada
      › Air India
      › Air Italy
      › Air One
      › Air Europa
      › Air Sahara
      › British Airways
      › Capital Aviation Services
      › China Eastern
      › Excel Airways
      › Futura
      › GOL
      › Hainan
      › Icelandair
      › Jet Airways
      › KLM Royal Dutch Airlines
      › Korean Air
      › Lan Chile
      › LOT
      › Lotus Air
      › Magnicharters
      › Malaysian Airlines
      › Martinair
      › Monarch Airlines
      › SAS Braathens
      › Sibir
      › Skyservice Airlines
      › SN Brussels
      › Southwest Airlines
      › SriLankan
      › Sterling Airlines
      › Swiss International
      › TAM
      › Thomsonfly
      › TUI AG
      › Turk Hava Yollari
      › Ukraine International
      › US Airways

      As President of the United States Edwards could affect a lot of
      things, including American
      relations with the nations that run some of those airlines. There's
      that "conflict of interest"
      phrase again.
      Fortress Investment Group LLC's Mr. Edens is also the Chairman of
      the board of directors of
      Brookdale Senior Living Inc. Hmmmm, wouldn't the President of the
      United States be able to affect policy concerning senior citizens?
      Say regarding Health Care and Social Security for starters? There's
      that "conflict of interest" phrase again.
      Fortress Investment Group
      LLC's Mr. Edens is also the Chairman of the board of directors of
      Eurocastle Investment Limited
      "Eurocastle Investment Limited is a
      Euro denominated Guernsey closed-end investment company that invests
      in and manages a diverse portfolio consisting primarily of German
      commercial real estate assets. Eurocastle is traded on Euronext
      Amsterdam Exchange under ticker symbol "ECT". The Company is managed
      by an affiliate of Fortress Investment Group LLC." Ah ha! As
      President of the United States
      Edwards could sure affect things like U.S.- German relations, which
      in turn could impact on the value of those assets. There's
      that "confict of interest" phrase again.

      Fortress Investment Group LLC's Mr. Edens is also the Chairman of the
      board of directors of GateHouse Media, Inc.

      "GateHouse Media, Inc., headquartered in Fairport, New York, is one
      of the largest publishers of locally based print and online media.
      GateHouse Media currently serves local audiences of more than 10
      million per week across 20 states through hundreds of community
      publications and local websites.
      GateHouse Media is traded on the New York Stock Exchange under the
      symbol "GHS."
      Ahh! The better to get you nominated, elected, and re-elected, with
      nary a peep about
      "conflict of interest" to be read by our truly well-informed
      electorate, Honest John? or is it Honest Jon? Edwards?
      "More than 70 percent of our daily newspapers have been published
      for more than 100 years and 93 percent have been published for more
      than 50 years. If you click the headline above, you can view a list
      of all of our daily newspapers and click through to the detail page
      for each individual publication."

      Fortress Investment Group LLC's Mr. Edens is also the Chairman of
      the board of directors of Mapeley Limited
      http://www.mapeley.com/ "Mr Edens, the Chairman may not be regarded
      as `independent' since he is the Chairman of Fortress Investment
      Trust which has a controlling interest in the Company."
      Mapeley was formed in 1999 to invest in UK real estate leased to
      high quality tenants, initially by capitalising on the growing trend
      of UK government and corporate occupiers of selling property
      portfolios and outsourcing the management of their leasehold

      Mapeley's first two major acquisitions were Abbey National's UK
      occupational portfolio (2000) and the HMRC portfolio (2001) - the
      portfolio of the departments of the Inland Revenue, HM Customs &
      Excise, and Valuation Office Agency.
      In 2004 Mapeley made its first direct property investment and has
      since then acquired properties at a cost of approximately £840

      In March 2006, Mapeley was awarded its second outsourcing contract
      with the government, with the Identity and Passport Service. This
      contract is to acquire, fit-out and service 69 interview offices
      across the UK."

      As President of the United States Edwards could certainly influence
      U.S.-British relations,
      which in turn could have all sorts of impacts on the value of thoe
      investments now couldn't it? There's that "conflict of interest"
      phrase again.

      Fortress Investment Group LLC's Mr. Edens is also the Chairman of
      the board of directors of Newcastle Investment Corp.
      http://www.newcastleinv.com/ "Newcastle Investment Corp. (NYSE: NCT)
      is a publicly traded real estate investment and finance company that
      invests in and manages a diverse portfolio consisting primarily of
      real estate securities.

      Newcastle Investment Corp. is a real estate investment and finance
      company located in New York City. The Company invests in a
      diversified portfolio of real estate securities and other real
      estate-related assets with a disciplined approach to managing assets
      and financing.

      The Company, which is taxed as a real estate
      investment trust, seeks to deliver a strong dividend and superior
      risk-adjusted returns on equity to stockholders in varying interest
      rate and credit cycles. In October 2002, Newcastle completed the
      initial public offering of its common stock, which is listed on the
      New York Stock Exchange under the symbol NCT.
      Newcastle is managed by an affiliate of Fortress Investment Group
      LLC, a premier investment and asset management firm. Fortress has
      provided a dedicated Newcastle executive management team with
      extensive experience across the key disciplines necessary to
      successfully execute our business model.

      Newcastle also benefits
      from its manager's investment and structuring expertise as well as a
      consistent track record of delivering high returns to investors. In
      addition, Fortress has a significant equity investment in

      As President of the United States Edwards could sure
      have an impact
      of the value of those goodies. Ahh, there's that "conflict of
      interest" phrase again.
      Fortress Investment Group LLC's Mr. Edens is also a director of
      Crown Castle International Corp. http://www.crowncastle.com/
      "Crown Castle International rules over a kingdom of radio towers.
      Its subsidiaries and joint ventures provide broadcast, data, and
      wireless communications infrastructure services in Australia, Puerto
      Rico, and the US. The company's clients include AT&T Mobility
      (formerly Cingular), Optus, Sprint Nextel, Verizon Wireless, and
      Vodafone Australia. They lease antenna space on Crown Castle's more
      than 24,000 owned or managed towers. The company has sites primarily
      in the US and Puerto Rico, and has about 1,400 towers in Australia.

      It also designs networks, selects and develops sites, and installs

      Wouldn't President Edwards have some influence on regulating lots of
      that stuff?
      Fortress Investment Group LLC's Mr. Edens is also a director of
      GAGFAH S.A. http://www.gagfah.de/en/about_us.html "About Us
      We are a nationwide Group that owns and manages a portfolio of
      approximately 159,000 residential units. That makes us one of the
      largest landlords in Germany." As President of the United States
      Edwards could sure affect things like U.S.- German relations, which
      in turn could impact on the value of those assets. There's
      that "confict of interest" phrase again.

      Mr. Edens was the Chief Executive Officer of Global Signal Inc. from
      February 2004 to April 2006 and the Chairman of the board of
      directors from October 2002 to January 2007.On October 6, 2006,
      Crown Castle announced it had entered into a definitive agreement to
      acquire Global Signal Inc. (NYSE: GSL)
      Edens serves in various capacities in the following five registered
      investment companies: Chairman, Chief Executive Officer and Trustee
      of Fortress Registered Investment Trust and Fortress Investment
      Trust II; Chairman and Chief Executive Officer of Fortress Brookdale
      Investment Fund LLC and Fortress Pinnacle Investment Fund LLC and
      Chief Executive Officer of RIC Coinvestment Fund GP LLC. Prior to
      forming Fortress, Mr. Edens was a partner and a managing director of
      BlackRock Financial Management Inc., where he headed BlackRock Asset
      Investors, a private equity fund.

      In addition, Mr. Edens was
      formerly a partner and a managing director of Lehman Brothers. Mr.
      Edens received a B.S. in Finance from Oregon State University."
      "Fortress Brookdale Investment Fund, LLC (the "Company") was formed
      on September 6, 2000 ...The members of the Company include
      Northwestern Mutual Life Insurance Company ("Northwestern"),
      Weyerhauser Company Master Retirement Trust
      ("Weyerhauser"), and FIG Advisors LLC ("FIG", and together with
      Northwestern and Weyerhauser, the "Members"), with FIG acting
      as Advisory Member."
      http://www.weyerhaeuser.com/ "Weyerhaeuser Company is an
      international forest products company with annual sales of $21.9
      billion. Our company was founded in 1900 and currently employs about
      41,000 people in 18 countries. We've ranked in the Fortune 200 since

      Timberlands: Australia Canada New Zealand United States Uruguay."
      Wonder what President Edwards policy towards firms like Weyerhaeuser
      will be?

      "Fortress Pinnacle Investment Fund LLC (the "Company") was formed on
      24, 2002 The members of the Company include Weyerhauser Company
      Master Retirement
      Trust ("Weyeryauser"), Aurora Cayman Limited ("Aurora"), Morgan
      Private Markets Fund I ("Morgan Stanley"), Howard Hughes
      Medical Institute
      ("HHMI") and FIG Advisors LLC ("FIG" and together with Weyerhauser,
      Aurora, Morgan Stanley and HHMI, the "Members"), with FIG acting as
      Advisory Member."

      "Published on June 15, 2006 By Don Bauder...When taking control of
      companies, Aurora Capital set up entities in the Cayman Islands
      controlled by the Aurora partners...

      "Published on June 15, 2006
      By Don Bauder
      ..... Aurora Capital set up entities in the
      Cayman Islands controlled by the Aurora partners, This strategy
      raises numerous questions, as do most corporate
      adventures in offshore tax and secrecy havens. There are no capital
      gains taxes in the Caymans. Nor are there corporate or personal
      income taxes, withholding taxes, gift or inheritance taxes, sales
      taxes, or employment taxes.
      I asked one of San Diego's foremost securities lawyers, who did not
      want to be identified, about Aurora's Cayman Islands entities. The
      response: "It probably means hidden ownership or tax avoidance,"
      although there could be other explanations....

      David Dunn of La
      Jolla's Idanta Partners has long been San Diego's most prominent
      venture capitalist. ...I described to Dunn the Caymans
      structures. "There are several reasons people locate over there. I
      have never done it," says Dunn. "Lack of disclosure requirements is
      one, and two is tax avoidance." Such an offshore operation can
      relieve a U.S. company of "a lot of securities regulations in the
      U.S. and a lot of disclosure rules." The company may be able to
      delay disclosure of deals. Use of offshore havens can facilitate
      asset transfers within families too.

      "It's bad to generalize," says Dunn. "There may be other reasons and
      valid reasons." The big tax advantage could be on relief from
      capital gains taxes when shares are sold, he says....
      I scoured documents filed with the Securities and Exchange
      Commission. In 1994, Aurora Capital organized a company called
      Aftermarket Technology, which distributes rebuilt auto and truck
      parts. To put the company together, Aurora purchased four auto parts
      companies. Aftermarket is now based near Chicago.
      In late 1996, Aurora made a public offering of the shares. Aurora
      Equity Partners, based in the United States, had 10.7 million
      shares. A group of Cayman Islands-based entities with the
      name "Overseas" in them had 4.5 million shares. ...

      The insiders such as Aurora paid $1.67 per share, and outside
      investors paid $13.50 each.
      By late March of 2005, the Aurora entities, including those based in
      the Caymans, had sold all their shares for between $14 and $18....
      In late 2004, the Aurora group paid $1 billion for K&F Industries,
      which makes aircraft wheels, brakes, and brake-control systems. It's
      the largest supplier of wheels and brakes to the U.S. military.
      Aurora financed the buyout mainly with debt and in 2005 took the
      company public. Most of the proceeds from the offering went to pay
      off the debt incurred for the buyout and to pay a fat dividend to
      the insiders. The prospectus warned, "We do not intend to use any of
      the proceeds of this offering to grow our business or develop new
      products, which could negatively impact the value of your

      In short, the leveraged buyout had little economic
      purpose other than to enrich the insiders. It's called financial

      K&F had been spun off by Loral, a bankrupt aerospace company. When
      Aurora took K&F public, there were accounting changes made. "It's
      buyer beware on this kind of stuff," analyst Francis Gaskins of
      Ipodesktop.com told Reuters at the time. In addition, he was
      concerned about the debt piled up in the buyout. K&F warns in its
      filings that it has "substantial debt," now two-thirds of its
      capitalization....The Aurora partners...own more than half of K&F
      (now called K&F Industries Holdings) through both domestic and
      Cayman Islands entities. The Caymans units have names like Aurora
      Overseas Equity Partners II and Aurora Overseas Capital Partners II.
      The K&F insiders, including the Caymans units, paid $2.16 a share,
      and the new investors paid $17.50.

      When Aurora partners start
      selling their shares, questions will be raised: Are capital gains
      taxes being paid? Is Aurora taking advantage of other offshore tax
      breaks? Is Aurora dodging some disclosure requirements? Are there
      hidden partners taking shelter in the Caymans? If Aurora is not
      using the tax and secrecy advantages offered by the Caymans, why
      bother setting up these entities?"

      "BlackRock is a premier provider of global investment management,
      risk management, and advisory services. As of March 31, 2007, the
      firm manages US$1.1 trillion across fixed income, equity, liquidity,
      asset allocation/balanced, real estate, and alternative strategies.
      Clients include corporate, public, and union pension plans,
      insurance companies, mutual funds, endowments, foundations,
      charities, corporations, official institutions, and individuals

      Through BlackRock Solutions, the firm offers risk management and
      advisory services that combine capital markets expertise with
      proprietarily-developed systems and technology. BlackRock Solutions
      provides risk management and enterprise investment services for
      US$4.5 trillion in assets.

      BlackRock's story has always been one of evolution. Since our
      founding in 1988 as a primarily institutional fixed income manager,
      we have continually looked for ways to enhance our ability to serve
      clients. Not only have we sought to broaden and deepen our general
      capabilities, we have also tried to capitalize on the key macro
      trends that are shaping the future of asset management. The most
      recent step in our development is our merger with Merrill Lynch
      Investment Managers, which closed September 29, 2006, significantly
      increasing our assets under management and, more important,
      transforming our business into a truly global one.

      In Merrill Lynch Investment Managers we found a partner that gives
      us extraordinary global scale and enhances our collective ability to
      serve institutions, financial intermediaries and individuals.
      Learn more about our combination with Merrill Lynch Investment
      Managers.BlackRock has long focused on a cross-disciplinary team
      approach in which clients benefit from the pooled expertise of the
      firm's resources: our investment and risk management professionals
      and our proprietary analytical tools. In addition to excellent
      performance, BlackRock is committed to delivering a high level of
      service tailored to the needs of each client.

      BlackRock's client base includes corporate, public and Taft-Hartley
      pension plans, insurance companies, mutual funds, endowments,
      foundations, nuclear decommissioning trusts, corporations, banks and
      individuals across the globe. Headquartered in New York, BlackRock
      has offices around the globe, and maintains a major presence in key
      markets in Asia, Australia, Europe, Japan, the Middle East, the
      United Kingdom, and the United States.

      BlackRock is independent in ownership and governance, with no single
      majority stockholder and a majority of independent directors. In
      terms of equity, Merrill Lynch's stake is approximately 49%, while
      PNC Financial Services Group retains an interest of about 34%; the
      remaining 17% is held by BlackRock employees and the public."

      President Edwards could sure affect lots of those things now
      couldn't he?
      "Mr. Edens serves in various capacities in the following five
      registered investment companies: Chairman, Chief Executive Officer
      and Trustee of Fortress Registered Investment Trust and Fortress
      Investment Trust II; Chairman and Chief Executive Officer of
      Fortress Brookdale Investment Fund LLC and Fortress Pinnacle
      Investment Fund LLC and Chief Executive Officer of RIC Coinvestment
      Fund GP LLC."

      We do not know if the firm called Fortress Pinnacle Investment Fund
      LLC has any connection whatsoever with Pinnacle Development Partners,
      LLC ("Pinnacle"), a purported real estate investment fund based in
      Atlanta. If anyone knows please post
      that information one way or another. We are seeking the truth here
      and could use your help to find out if there is any connection at all
      between these firms.

      "March 8th, 2007 ATLANTA, GA - GENE A. O'NEAL, 36, of Atlanta,
      Georgia, made an initial appearance today before a United States
      Magistrate Judge on federal charges of mail and wire fraud. O'NEAL
      allegedly ran a scheme that defrauded investors in Pinnacle
      Development Partners, LLC ("Pinnacle"), a purported real estate
      investment fund based in Atlanta.

      THURSDAY, March 8, 2007
      PHONE: (404) 581-6016
      FAX: (404) 581-6160

      Defendant Gene O'Neal Guaranteed A 25% Return On Investment In 60
      Atlanta, GA - GENE A. O'NEAL, 36, of Atlanta, Georgia, made an
      initial appearance today before a United States Magistrate Judge on
      federal charges of mail and wire fraud. O'NEAL allegedly ran a
      scheme that defrauded investors in Pinnacle Development Partners,
      LLC ("Pinnacle"), a purported real estate investment fund based in
      Atlanta. O'NEAL was indicted by a federal grand jury on the charges
      earlier this week.

      "O'Neal's promises of huge returns in a short period opened the
      floodgates to investment," said United States Attorney David E.
      Nahmias. "He allegedly raised more than $69 million in 15 months by
      making promises of exorbitant returns from the purchase, improvement
      and sale of real estate. He then used the capital contributions of
      later investors to pay the returns promised to earlier investors.
      Contrary to what he told his investors, O'Neal allegedly did not
      realize the hefty returns he guaranteed but rather continued to draw
      in everincreasing amounts of investment from other investors and
      therefore ever-increasing amounts of unsustainable but undisclosed

      FBI Special Agent In Charge Greg Jones said, " This case not only
      demonstrates that the FBI is well suited to pursue such cases of
      large scale fraudulent investments or ponzi schemes, with their
      victims scattered over many states, it also demonstrates that we are
      committed to such a pursuit. The economic losses sustained by the
      victims of such schemes reverberates throughout our community in
      many ways. We hope that this investigation and the resulting
      indictment will serve notice to others contemplating any similar
      type financial schemes."

      Inspector-in-Charge Martin D. Phanco said, "From the boiler room to
      the boardroom, United States Postal Inspectors work around the clock
      enforcing more than 200 federal laws in support of its mission by
      protecting the nation's mail system from criminal misuse. We will
      always remain steadfast in our efforts to investigate those 2
      individuals or corporations who are responsible for illegally using
      the U.S. Mail in the furtherance of their fraudulent schemes."
      According to the indictment and the documents and information
      presented in court: Beginning in July 2005, Pinnacle, which was
      founded by O'NEAL and headquartered in Atlanta, allegedly began
      telling investors they could make a 25% profit in 45 days, which
      later became a 25% profit in 60 days, upon investment in
      partnerships Pinnacle formed to acquire real property. Investors
      were told that Pinnacle was in the business of purchasing
      distressed, foreclosed or bank-owned real estate, which Pinnacle
      intended to "flip" for a profit after making minor repairs and
      cosmetic improvements.

      Pinnacle solicited investment by running more
      than $2.5 million worth of advertising in national and local media

      As a result of his aggressive advertising campaign
      promising 25% returns in either 45 or 60 days, O'NEAL induced more
      than 2,000 investors from throughout the United States and some
      foreign countries to invest more than $69 million in just 15 months.
      Pinnacle allegedly represented in its offering materials that its
      real property had been and continued to be sold at a substantial
      profit to third parties, that it contributed 50% of its own capital
      to the acquisition costs of its real property and that its investors
      were secured by being individually named on the deeds to Pinnacle
      real estate.

      The indictment alleges that, in fact, Pinnacle never
      sold, or for that matter significantly developed or improved, any of
      the real property it bought with investor funds and therefore never
      generated any income with which to pay the 25% profits, plus a
      return of principal, O'NEAL had guaranteed his investors. To pay the
      false returns promised to Pinnacle investors, which upon
      reinvestment was compounding 25% every 60 days, O'NEAL
      allegedly "recycled" more than $25 million in invested capital from
      later investors to earlier investors, who were falsely told that
      their returns were being paid from the development and sale of
      Pinnacle real property.

      According to the indictment, over a period of time, as huge amounts
      of investment poured in, Pinnacle allegedly acquired larger and
      considerably more expensive, both in terms of acquisition and
      development costs, parcels of real estate. Investors were told that
      this real estate would be developed in phases, with Pinnacle
      partnerships holding the properties, for 60 days at a time, during
      the various stages of development.

      In fact, however, of the 21 real
      estate parcels Pinnacle bought, only half were assigned to a
      Pinnacle partnership and less than half of the partnerships Pinnacle
      formed ever appeared as record owners or partial record owners of
      Pinnacle real property, meaning that investors associated with the
      majority of Pinnacle's partnerships were never assigned to a
      property, much less individually named on its deed.

      In addition, the multi-family structures and raw land Pinnacle
      purchased (using 100% investor assets) required extensive and
      rehabilitation and development to ever generate income or be sold at
      a profit.

      To conceal the fact that Pinnacle was neither selling nor otherwise
      developing its properties, O'NEAL allegedly directed that certain of
      them be transferred between and 3 among Pinnacle partnerships.
      Although these were merely paper transactions and did not involve an
      actual sale, the transfer prices were as much as 10 times the
      initial acquisition price, thereby fostering the illusion that
      properties were being developed and sold at significant profits.
      Aside from the $2.5 million spent on advertising, O'NEAL also
      allegedly used investor assets to pay more than $2.5 million in
      salary and commissions, more than $700,000 to furnish Pinnacle's
      offices, and more than $3.5 million in general and administrative
      expenditures. Pinnacle's investors also bought, among other things,
      a $72,000 Land Rover, a $69,000 Cadillac Escalade and, for O'NEAL's
      personal benefit, a $117,000 Maserati and $26,000 worth of jewelry.
      The indictment's 19 mail and wire fraud counts each carry a maximum
      term of imprisonment of 20 years and a maximum fine of $250,000 per

      The indictment also seeks forfeiture of all proceeds of the
      alleged fraud.

      The U.S. Securities and Exchange Commission filed a lawsuit against
      the Defendant and Pinnacle Development Partners, in October 2006,
      seeking an injunction against the alleged fraudulent activity,
      appointment of a receivership, and other relief. A federal judge in
      Atlanta issued a preliminary injunction and appointed a receiver,
      who has taken charge of the business and assets of Pinnacle
      Development Partners.

      The pleadings and reports filed by the
      receiver are publicly available in the court's docket, under the
      civil action entitled U.S. Securities and Exchange Commission v.
      Pinnacle Development Partners LLC and Gene O'Neil, 1:06-CV-2431-JTC
      (N.D.Ga October 11, 2006).
      Members of the public are reminded that the indictment only contains
      charges. The defendant is presumed innocent of the charges and it
      will be the government's burden to prove the defendant's guilt
      beyond a reasonable doubt at trial.

      This case is being investigated by Special Agents of the Federal
      Bureau of Investigation and Postal Inspectors with the United States
      Postal Inspection Service.

      Assistant United States Attorneys Justin Anand and Paul Monnin are
      prosecuting the case.
      For further information please contact David E. Nahmias (pronounced
      NAH-meus), United States Attorney, or Charysse L. Alexander,
      Executive Assistant United States Attorney, through Patrick Crosby,
      Public Affairs Officer, U.S. Attorney's Office, at (404) 581-6016.
      The Internet address for the HomePage for the U.S. Attorney's Office
      for the Northern District of Georgia is www.usdoj.gov/usao/gan.

      GENE A. O'NEAL
      Office Address: 2221 D. PEACHTREE ROAD, N.E.
      SUITE 476
      Atlanta GA 30309

      If it helps we were able to find an address for GENE A. O'NEAL
      However keeping track of who is who here is not an easy thing. There
      may be no connection whatsover between Pinnacle Development
      Partners, LLC ("Pinnacle"), a purported real estate investment fund
      based in Atlanta, and the firm called Fortress Pinnacle Investment
      Fund LLC.

      Please post your findings one way or the other.

      "Harry Macklowe paid $7 billion for the 568,060-square-foot Park
      Avenue Tower at 65 East 55th Street; the 465,173-square-foot 717
      Fifth Avenue; the 1.8-million-square-foot 1301 Sixth Avenue; the 1.7-
      million-square-foot Worldwide Plaza at 825 Eighth Avenue; the
      215,322-square-foot 527 Madison Avenue; the 906,287-square-foot 1540
      Broadway; the 562,567-square-foot 850 Third Avenue; and the 182,000-
      square-foot Tower 56 at 126 East 56th Street. Financing was provided
      by Deutsche Bank and Fortress Investment Group, ... The deal came
      just before the Blackstone Group closed on its $39 billion
      acquisition of Equity Office Properties, saving Blackstone $212
      million in transfer taxes."

      We wonder what the conflicts of interest, if any might be on things
      like "Federal Contracts for Lease or rental of facilities, FY 2001,
      CAPITAL MANAGEMENT CO LTD, $954000 ...
      database=fpds&reptype=r&detail=0&datype=T&sortby=f&... - 157k

      "Federal Contracts for Lease or rental of facilities, FY 2002,
      list ...
      database=fpds&reptype=r&detail=0&datype=T&sortby=f&... - 157k -
      and how those alleged "conflicts of interest", if they existed,
      would be handled by President Edwards.

      "Edwards Discusses Time at Hedge Fund
      The Associated Press
      Tuesday, May 8, 2007; 9:48 PM
      WASHINGTON -- Democrat John Edwards said Tuesday that he worked for
      a hedge fund between presidential campaigns to learn about financial
      markets and their relationship to poverty _ and to make money too.
      In an interview with The Associated Press, the former North Carolina
      senator said his yearlong, part-time position with Fortress
      Investment Group helped his understanding of the connection but he
      has more to learn. Edwards has made eradicating poverty a focus of
      his second White House bid.

      Edwards, a multimillionaire after years as a trial lawyer, would not
      disclose how much he got paid for a year of consulting beginning in
      October 2005. He said the amount will be revealed when he releases
      his financial disclosure forms due May 15.

      Asked if he had to join a hedge fund to learn about financial
      markets, Edwards replied, "How else would I have done it?"
      He said he considered going to an investment firm such as Goldman
      Sachs, but Fortress was the most natural fit. Presented with the
      suggestion that he could have taken a university class instead, he
      said, "That's true.""It was primarily to learn, but making money was
      a good thing, too," the 2004 vice presidential nominee said in an
      hourlong interview with AP reporters and editors.

      Hedge funds, now numbering more than 9,000 in the U.S. with assets
      estimated to exceed $1 trillion, traditionally cater to the rich, as
      well as pension funds and university endowments, but are
      increasingly luring less wealthy investors.

      Fortress Investment Group, founded in 1998, describes itself as "a
      leading global alternative asset manager" with approximately $35.1
      billion in assets under management as of December 31, 2006. The
      company is headquartered in New York with affiliates around the

      Fortress was the single biggest employer of Edwards donors during
      the first three months of the year. Donors who listed "Fortress" as
      their employer contributed $67,450 to Edwards' campaign and
      supporters who identified their employer as "Fortress Investment
      Group" gave $55,200 to the campaign, according to Federal Election
      Commission records.

      Hedge funds also have another connection to the Democratic
      presidential race _ Chelsea Clinton, daughter of Edwards' rival Sen.
      Hillary Rodham Clinton, works for a firm called Avenue Capital Group.
      Edwards said it's fair to ask questions about whether there is a
      contradiction between campaigning against poverty while working for
      a hedge fund designed to make rich people richer. But he said the
      job was a complement to his position as the head of a poverty center
      at the University of North Carolina, something he said he didn't
      describe adequately when asked about the hedge fund during the first
      Democratic debate last month."

      Fortress Buying Florida's Flagler Development in $3.5B Deal
      Sale of Florida East Coast Industries Inc. Includes 8.8M-SF
      Portfolio of Office, Industrial Assets

      One day after announcing it had $2.84 billion in commitments for a
      newly launched private equity fund, Fortress Investment Group LLC
      (NYSE:FIG) struck a deal to acquire Florida East Coast Industries
      Inc. (NYSE: FLA), a Jacksonville, FL-based real estate developer and
      railway owner in an all-cash transaction valued at $3.5 billion.
      Funds managed by Fortress will pay about $84 per share for Florida
      East Coast Industries, broken out into a special dividend of $21.50
      and $62.50 per share. The total price represents a 13.3% premium to
      the stock's closing price on Monday. The deal also includes the
      assumption of debt.

      Fortress, a hedge fund manager and private equity investor that
      recently went public, said the new fund will invest in asset-based
      businesses and asset portfolios, primarily in North America and
      Western Europe.

      Florida East Coast Industries owns and operates Flagler Development
      Group, one of the premier developers in the state with a portfolio
      of office and industrial properties totaling about 8.8 million
      square feet, primarily located in Jacksonville, Ft. Lauderdale,
      Orlando and Miami. Flagler also provides construction, consulting,
      brokerage and property management services.

      The company currently has about 1.8 million square feet under
      construction and also owns about 853 acres of entitled land in
      Florida, which could accommodate about 16.1 million square feet of
      development. In addition, Flagler has more than 3,000 acres of
      Florida real estate in its land bank that is not yet entitled.
      The company's other line of business is the Florida East Coast
      Railway LLC, a regional freight railroad that operates 351 miles of
      mainline track between Jacksonville and Miami.

      The buyout, which is scheduled to close in the third quarter of
      2007, comes at an opportune time for Florida East Coast Industries,
      which suffered a drop in earnings by about 50% in the first quarter
      of the year. Net income plummeted by 50% to $9.04 million from $18.7
      million for the first three months of 2006. Revenue during the
      quarter dropped to $108 million from $136 million.
      The company attributed the decline in revenue to a $43.9 million
      decrease in land sales and a $7.3 million dip in railway revenue.
      Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to

      "Kerry's top contributor, Skadden, Arps, Slate, Meagher & Flom, has
      given nearly $106,000 to his campaign."

      "Trouble With Uranium Processing Co. H. Josef Hebert
      Associated Press April 11, 2000 WASHINGTON (AP) - Less than two
      years after the government sold its uranium business, the private
      company it created to take on the job is mired in financial
      quicksand. The deal is also jeopardizing a crucial nuclear security
      agreement with Russia , critics say. USEC Inc.'s (NYSE:USU -news)
      first 20 months as a private company have been anything but smooth.
      Its stock has dropped 70 percent, its credit rating is in junk bond
      territory, and its earnings have nose dived. Amid the financial
      turmoil, lawmakers and others are questioning the sale.

      A congressional investigation has been under way for a year, with the
      first public hearings scheduled this week. While investors have lost
      millions of dollars, some of the people who pushed hardest for an
      initial stock offering have profited handsomely.
      "A number of lobbyists, company insiders and investment bankers made
      a killing financially," said Charles Lewis, director of the Center
      for Public Integrity, a private government watchdog.

      In all, Wall Street bankers, Washington lawyers and lobbyists – many
      with close ties to the Clinton administration – earned more than $75
      million on the $1.9 billion sale, according to contracts and
      interviews. Among those talking up the stock offering in 1998 on
      Capitol Hill and in the White House were Susan Thomases, a New York
      lawyer and confidante of Hillary Rodham Clinton, and Greg Simon,
      formerly Vice President Al Gore's domestic policy adviser. The law
      firm of Skadden Arps, which represented President Clinton in the
      Paula Jones case, was USEC's lead attorney in the deal.....

      Top Contributors source:
      Citigroup Inc $205,160 2 Goldman Sachs $171,290 3 Metropolitan Life
      $154,350 4 Corning Inc $133,900 5 Time Warner $128,410 6 JP Morgan
      Chase & Co $115,350 7 Morgan Stanley $110,010 8 Skadden, Arps et al
      $91,030 9 International Profit Assoc $88,400 10 Ernst & Young
      $88,225 11 New York Life Insurance $86,250 12 Viacom Inc $84,380 13
      Cablevision Systems $82,800 14 Kirkland & Ellis $73,150 15 Cendant
      Corp $72,450 16 Akin, Gump et al $64,250 17 Lehman Brothers $57,190
      18 Patton Boggs LLP $54,138 19 Debevoise & Plimpton $51,500 20
      Verizon Communications $51,020 We hope that you will remember the
      name of Skadden, Arps et al in the list of contributors to Hillary
      Rodham Clinton from http://www.opensecrets.org above can you find
      any other contributors to Hillary from the list above in the list of

      "SKADDEN, ARPS, SLATE, MEAGHER, & FLOM LLP" is the lobbyist.
      The following were listed as their clients:
      FMR CORP

      "Nature of Practice
      Established in 1990, the Paris office of Skadden, Arps, Slate,
      Meagher & Flom LLP and affiliates ("Skadden, Arps" or "Skadden") has
      four partners, one of counsel, four counsel and 20 associates. The
      Paris office advises clients principally in the areas of mergers and
      acquisitions, corporate and structured finance, taxation,
      litigation, and international arbitration, banking and real estate.
      The Paris office is registered with the Paris Bar and most of its
      attorneys are admitted as avocats with the Paris Bar. A number of
      the attorneys in the Paris office are also qualified in New York .
      Practice Areas Mergers and Acquisitions Corporate and Structured
      Finance General
      Corporate" "

      Top Contributors
      UBS Americas $162,200
      Exelon Corp $159,800
      Goldman Sachs $146,100
      Sidley Austin LLP $105,750
      Jenner & Block $81,322
      Jones, Day et al $76,000
      Kirkland & Ellis $72,251
      Time Warner $63,300
      Williams & Connolly $58,350
      Harvard University $57,500
      Citigroup Inc $56,000
      Credit Suisse Securities $47,500
      Skadden, Arps et al $43,550
      WilmerHale $41,950
      Morgan Stanley $41,850
      Level 3 Communications $38,900
      Viacom Inc $38,700
      Lehman Brothers $38,400
      Ariel Capital Management $37,900
      Pajcic & Pajcic $36,800

      "From the NewsMax.com Staff
      For the story behind the story...
      Wednesday, May 23, 2007 9:07 p.m. EDT
      John Edwards is Stakeholder in Sunken Treasure
      TheStreet.com was questioning Wednesday how much of the $500 million
      sunken treasure found in the Atlantic last weekend belongs to
      Democratic presidential candidate John Edwards.
      The treasure ship, brimming with gold and silver, was found at the
      bottom of the Atlantic by exploration company, Florida-based Odyssey
      Marine Research (OMR).
      TheStreet.com has ferreted out that Edwards is the senior advisor
      and major investor in the major shareholder of OMR, New York-based
      Fortress Investments, a private equity and hedge fund manager.
      Furthermore, according to TheStreet, Edwards' personal financial
      disclosures show he's an investor in the exclusive Drawbridge Global
      Macro Fund, which owns the 9.9 percent stake in OMR.
      In a complex holding, Fortress owns 3.1 million shares, plus
      millions more in preferred stock and warrants. Total economic
      interest is the equivalent of 6.98 million shares. Profits in the
      last week already come to $19 million, reported TheStreet.
      OMR stock, which closed at $4.60 before news of the discovery, has
      climbed to $7.35. The value of Fortress' stake could be as much as
      $51 million.

      While OMR stock peaked Monday morning at just over $9, valuing the
      company at well above $400 million, the shares have come off sharply
      since claims by the Spanish government that the treasure might be
      Spanish and they may elect to sue for ownership. "
      Speaking of Fortress
      "Dr. Richard N. Haass
      Dr. Haass has been a member of Fortress Investment Group's board of
      directors since February 2007. Dr. Haass is president of the Council
      on Foreign Relations, a position he has held since July 2003. Prior
      to his current position, Dr. Haass was director of policy planning
      for the U.S. Department of State, where he was a principal adviser
      to Secretary of State Colin Powell on a broad range of foreign
      policy concerns, and acted as U.S. coordinator for policy toward the
      future of Afghanistan and the lead U.S. government official in
      support of the Northern Ireland peace process. From 1989 to 1993,
      Dr. Haass was special assistant to President George Bush and senior
      director for Near East and South Asian affairs on the staff of the
      National Security Council. Previously, he served in various posts in
      the United States Departments of State and Defense. Dr. Haass has
      received the State Department's Distinguished Honor Award and the
      Presidential Citizens Medal.

      Dr. Haass has been director of foreign
      policy studies at the Brookings Institution and taught at or been
      associated in various capacities with Hamilton College, the Carnegie
      Endowment for International Peace, Harvard University's Kennedy
      School of Government and the International Institute for Strategic
      Studies. Dr. Haass holds a bachelor's from Oberlin College and both
      a Master and Doctor of Philosophy degrees from Oxford University."

      "ZOA Disappointed That Richard Haass, Who Has Blamed Israel For Arab
      Violence, Is Keynote Speaker At Y.U. Dinner
      March 29, 2004
      Contact: Morton A. Klein, 212-481-1500
      NEW YORK - The Zionist Organization of America (ZOA) is disappointed
      that Yeshiva University has chosen as the keynote speaker for a Y.U.
      dinner this week Richard Haass, a veteran State Department official
      who during his years in office repeatedly criticized and pressured
      Israel and justified the Syrian occupation of Lebanon, and more
      recently blamed Israel for "provoking" Palestinian Arab terrorism.
      ZOA National President Morton A. Klein has sent a letter to Yeshiva
      University president Richard Joel, expressing the ZOA's strong
      disappointment over the choice of Haass, in view of Haass's record
      on Israel.

      Haas is scheduled to be the featured speaker at Yeshiva University's
      dinner at the Park East Synagogue in New York City on March 31,

      Blamed Israel for "provoking" Palestinian Arab terrorism: In a June
      1997 policy brief that he authored for the Brookings Institute,
      Haass said that Israeli housing construction in the Jerusalem
      neighborhood was a "provocation" that was to blame for Palestinian
      Arab terrorism—ignoring the countless terrorist attacks that took
      place in the weeks and months prior to the Har Homa controversy.
      Haass wrote: "Violence does not occur in a vacuum. What has provided
      a context or even impetus for the latest surge in Palestinian acts
      of violence are Israeli decisions. The most provocative was the
      decision in February to break ground for new housing at the Har Homa
      settlement in eastern Jerusalem." (Forward, Jan. 28, 2000)
      Authored Bush's infamous `91 speech against loan guarantees for
      Israel: According to Newsweek (June 1, 1992), Haass "wrote Bush's
      comments last September [1991] attacking Israel's congressional push
      for loan guarantees."

      The Long Island Jewish World reported that "Jewish leaders and rank
      and file" regarded Bush's comments "as one of the most mean-spirited
      addresses by an American president in recent memory." Shoshana
      Cardin, chair of the Conference of Presidents of Major American
      Jewish Organizations, called Bush's remarks "disturbing." Dr. Daniel
      Pipes, then of the Foreign Policy Research Institute, said that "Jew-
      haters will cite [Bush's speech] as a reference point for years to
      come." After Bush made his statements, "the White House received a
      rush of congratulatory letters with decidedly anti-Semitic
      overtones," according to the Metro West Jewish News (Oct. 2, 1992)
      Tried to stifle Jews' criticism of Bush: In April 1992, when many
      American Jews were expressing concern over the Bush-Baker policy of
      pressuring Israel, Haass appeared at a meeting with Jewish leaders
      in New York City and urged them "to make special efforts to `cool
      the rhetoric' over U.S. policy in the Middle East." (New York Jewish
      Week, April 24-30, 1992)

      Justified Syria's occupation of Lebanon: Speaking at the University
      of Miami in 1992, Haass "asserted that Lebanon was better off now,
      with Syria having imposed de facto control, than it was two years
      ago with chaos caused by Lebanese militia." (Miami Jewish Tribune,
      April 10-16, 1992)

      Moment Article Called Haass a "Jewish Arabist": Haass was described
      as a "Jewish Arabist" in an article in Moment magazine (April 1991)
      by former Near East Report editor Eric Rozenman. He wrote that Haass
      was one of those responsible for shaping the Bush-Baker policy that
      was "indifferent to what Israel claimed as vital interests and
      undiplomatically hostile to Israel's prime minister" and had made
      it "the least sympathetic American government toward Israel in that
      country's 43 years."
      * * *
      The Zionist Organization of America, founded in 1897, is the oldest
      pro-Israel organization in the United States. The ZOA works to
      strengthen U.S.-Israel relations, educates the American public and
      Congress about the dangers that Israel faces, and combats anti-
      Israel bias in the media and on college campuses. Its past
      presidents have included Supreme Court Justice Louis Brandeis and
      Rabbi Dr. Abba Hillel Silver."

      "John Edwards Calls War on Terror Bush's 'Bumper Sticker' Slogan
      Wednesday, May 23, 2007
      NEW YORK — Democratic White House hopeful John Edwards, in a major
      foreign policy speech Wednesday, minimized the Bush administration's
      War on Terror as nothing more than a "bumper sticker slogan" used to
      justify the war in Iraq and "bludgeon political opponents."

      "It is now clear that George Bush's misnamed 'War on Terror' has
      backfired — and is now part of the problem," Edwards told the
      Council on Foreign Relations in New York. "

      "Critics heap scorn on Edwards
      Speaking fee, remarks draw fire
      CHARLOTTE - Critics have blasted Democratic presidential candidate
      John Edwards for calling the "war on terror" "a slogan designed only
      for politics" and "a bumper sticker, not a plan."
      Edwards made <br/><br/>(Message over 64 KB, truncated)
    Your message has been successfully submitted and would be delivered to recipients shortly.