On Feb 5, 2008, at 2:19 PM, Michael Smith wrote:
On Tuesday 05 February 2008 14:10:49 Doug Henwood wrote:
Noam did a nice bit on just how
dreadfully awful JFK was.
Did he by any chance also take a whack at that creepy
little rat *Bobby* Kennedy?
No, alas.
I remember talking to Chomsky once years ago and
the subject of Daniel Patrick Moynihan came up (Moynihan
was, alas, still alive at the time, though that karmic anomaly
has since been corrected).
Speaking of which, now that the creep is dead, I can reveal that the
Senator I wrote about in Wall Street:
One prominent exception to poor IPO performance is that personally
enjoyed by favored clients of the brokerages who underwrite the offer-
ings. During a hot IPO market, prices typically rise in the early
hours and
days of trading, often quite dramatically, yielding quick and fat
profits to
those getting first dibs. For especially hot offerings, it can be
hard to get a
piece of the action — unless, of course, you have a friendly
investment
banker who reserves a fat tranche for you. Best known are the sweet
deals
earned by important politicans of both major parties — like former
House
Speaker Tom Foley and Senate Banking Committee chair Alfonse D’Amato
(Glassman 1994; Kuntz and Simpson 1996). Even politicians with
sterling
reputations play the game; a former Wall Street Journal reporter
told me
he had confirmed information that a prestigious Senator beloved of the
pundit class had played the game — but the journalist refused to
publish
the info because he was fond of the Senator.
...that Senator was Moynihan.
Doug
