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Elizabeth Warren wants to know why disgraced hedge fund manager allowed back into banking

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U.S. Senator Elizabeth Warren, a firebrand of strong financial regulation, wants to know why securities regulators approved Steve Cohen’s new firm as an investment adviser after barring the billionaire from managing other people’s money until 2018.

In a letter sent on Thursday to the U.S. Securities and Exchange Commission, the Massachusetts Democrat said the regulator’s decision to approve the firm, Stamford Harbor Capital L.P., makes “a mockery of the SEC’s core mission to ‘protect investors.'”

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“The Commission has permitted a recidivist hedge fund manager, well-known for his former company’s willingness to evade and ignore federal law, to once again profit from – and potentially exploit – investors,” she wrote, adding it is “the latest example of an SEC action that fails to appropriately punish guilty parties, deter future wrongdoing, and protect investors.”

In 2012 Cohen was implicated in an insider trading scandal at a unit of SAC Capital Advisors, a hedge fund he founded. The SEC in January reached a settlement with Cohen prohibiting him from serving in a supervisory role at any broker, dealer, or investment adviser until 2018, addressing charges related to the SAC subsidiary.

Earlier this month the SEC granted registration to the new entity, which Cohen owns.

A statement from a Stamford Harbor spokesman said Cohen will “not supervise the activities of anyone acting on its behalf,” thus allowing him to abide by the agreement he reached with federal regulators.

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The firm will initially focus on investments in private companies that are illiquid, or can be difficult to sell quickly, according to filings. But it could also seek or accept outside capital in the future.

Warren said the firm had a “shell management structure” and the SEC should ensure “that future settlement agreements cannot be so easily undermined.”

She asked for a complete list of “other individuals or firms who, like Mr. Cohen, were barred from managing funds (or barred from other activities by SEC) yet are presently indirectly involved in those activities with SEC-registered entities.”

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(Reporting by Lisa Lambert; editing by Andrew Hay)


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Trump unravels over Ukraine call in extensive thread– then blames Democrats

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President Donald Trump continued to unravel over the call he had with Ukraine on July 25.

"This Scam going on right now by the Democrats against the Republican Party, and me, was all about a perfect phone call I had with the Ukrainian President. He’s already stated, NO PRESSURE! Where is the Whistleblower, or the 2nd Whistleblower, or the “informant?” All gone because their so-called story didn’t come even close to matching up with the exact transcript of the phone call. Was it a Corrupt Adam Schiff con? Why didn’t the IG see this? When do we depose Shifty Schiff to find out why he fraudulently made up my phone call and read this fiction to Congress and the American People? I demand his deposition. He is a fraud, just like the Russia Hoax was, and the Ukraine Hoax is now. When do the Do Nothing Democrats pay a price for what they are doing to our Country, & when do the Republicans finally fight back?"

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Trump lashes out at Pelosi for going to Jordan to fix his Syria flub

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Speaker Nancy Pelosi and Donald Trump

President Donald Trump tweeted his anger about Speaker Nancey Pelosi (D-CA) taking a delegation of leaders to Jordan to meet with those working on Syria.

"Pelosi is now leading a delegation of 9, including Corrupt Adam Schiff, to Jordan to check out Syria. She should find out why Obama drew The Red Line In the Sand, & then did NOTHING, losing Syria & all respect. I did something, 58 missiles. One million died under Obama’s mistake!" Trump tweeted Sunday.

https://twitter.com/realDonaldTrump/status/1186016354572353536

Vice President Mike Pence went to Turkey last week to attempt to negotiate a ceasefire, but what he ended up with was 120-hour freeze on bombing Kurds.

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Hillary Clinton posts fake letter from JFK to mock Trump’s absurd one to Turkey

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Former Secretary of State Hillary Clinton has taken up a new hobby of trolling President Donald Trump on Twitter.

The grandmother of three excelled in her sarcasm and stepped up her shade Sunday afternoon by releasing a fake letter from Former President John F. Kennedy to former Soviet Premier Nikita Khrushchev.

Read the fake letter and see the tweet below:

Dear Premier Khrushchev,

Don't be a d*ck, ok? Get your missiles out of Cuba. Everybody will say 'Yay! Khrushchev! You're the best!' But if you don't everybody will be like 'what an assh*le' and call your garbage country 'The Soviet Bunion.'

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