"JPMorgan, it appears, was running an elaborate shell game. In the depths of the financial collapse, the bank had unloaded tens of thousands of toxic loans when they were worth next to nothing. Then, when it needed to provide customer relief under the settlements, the bank had paperwork created asserting that it still owned the properties. In the process, homeowners were exploited, investors were defrauded, and communities were left to battle the blight caused by abandoned properties. JPMorgan, however, came out hundreds of millions of dollars ahead, thanks to using other people’s money."
The Law suit: http://fraudinvestigationbureau.com/case/sa-v-jpmc
From comments on David's Link:
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Bette Andresen says: Very good reporting, but so discouraging. Where is there anyone in the U.S. government or Wall Street, or any corporation that is anything more than a lowlife thug, and that includes the man I once admired, Barack Obama, who gave these monsters a free pass. Trump is as morally bankrupt as they come, but how is he worse than these folks? This total lack of consideration for anyone! Isn't that the hallmark of a psychopath? We seem to be a country run by psychopaths. Scum rises to the top! Okay, I exclude Bernie from my comment! I love Bernie, but, my god, looks what he and the rest of us are up against!
(8)
(2)
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Karin Eckvall says: Elizabeth Warren gets a pass, too.(1)(2)
Original Blog entry as follows:
Who owns Puerto Rico bonds is an excellent question. Who knows? That is the problem. It is extremely hard to find out the beneficial owners. Difficult to link to them except by diligent investigation. The solution of course is application of blockchain technology to validate true beneficial ownership through a blockchain ledger that identifies the the beneficial owner of the objects value. The object could be anything. A financial document or a medical patient that owns the privacy of their medical record.
David Dayen investigates thing to find the true source in the old school manner of a detective doing gumshoe work to discover clues and follow the trail. A quicker way to do it is by Google Search and piece together the findings. The absolute quickest way is to go to the blockchain documentation relating back to the sole source of whatever is being researched.
The following is a long trail of my own investigation working on what David discovered to find out what more could be discovered in the not so old school method of Google Search. Oh how I wish that a blockchain would lead me to the source but that technology has not yet been applied to the problem and created the path that only currently is discovered by one thing at a time leading to another thing on the World Wide Web that might hopefully uncover a source relationship with some high degree of accuracy....or maybe just go down a dead end street because the linking info is not anywhere on the Web.
Strange, but perhaps not, but the trail that started in one place..Puerto Rico..lead me to step by step to another place through relationship links to discover the most recent application of Blockchain to something I had looked a before. Perhaps not so unusual because no matter how it is done, one established fact leading to another (next or past) is the essence of Blockchain to validate current validity and transaction link it back to its source in a succession of proofs or truths or in the fuzzy manner of old school investigation, linkage of fuzzy truths that are probably more true than false to find anything.
The trail starts here:
https://www.nakedcapitalism.com/2017/10/trump-says-puerto-rico-debt-needs-wiped.html
"David Dayen has found one of the big owners of Puerto Rico debt, as reported in a new story at the Intercept. If you read the article in full, tracking down the who was behind the shell company used to hide the ultimate owners"
Good Job David! Shine the light on the source of the problem! Give rats n place to hide, no place to run. Name Names! Expose them!
Hiding in the dark behind a password website: But we know where you live and now thanks to David we know so much more!
https://www.baupost.com/
The Baupost Group, L.L.C.
10 Saint James Avenue, Suite 1700
Boston, MA 02116
Tel: 617-210-8300
What was already known: https://en.wikipedia.org/wiki/Baupost_Group
Seth Klarman:
https://en.wikipedia.org/wiki/Seth_Klarman
http://www.mydecagon.com/
Don't call us...we'll call you...from our hiding place!: http://www.mydecagon.com/contact-us/
Click on "Investments" at the website. Are the results a sure tell? The results?
"Heading. Here is where you can enter in text. Feel free to edit, move, delete or add a different page."
Same results if you click on "Consulting". Insulting! for a few dollars more they could have had some PR flack write something that sounds like something but means nothing! What a sham! Screams Scam!
Is this a different Decagon? http://www.decagon-advisors.com/
Clicking links leads to the same dead ends. This is truly a shell company with a shell website. Nothing inside the shell. It is empty. Why create and empty shell? To create the impression that there is something inside! At least stuff it with some BS! Some fluff with no substance that links to more fluff with no substance. I wish I could data mine the WWW for companies that have only a web address but say nothing about them. Obviously a shell company that wants shell presence on the web but wants to remain hidden. Hmmm....good place to start finding what is being hidden and discover relational links to find out what they link too. That of course is in the domain of enterprises like the NSA. It should be applied to corporate practices.
Decagon:Decagon Advisors
1350 Avenue of the Americas, 3rd Floor
New York, NY 10019
646.755.3825
Our People: Aha! Names: http://www.decagon-advisors.com/our-people/
Following links to the culprits: https://content.next.westlaw.com/Document/Ic3f4c8c218a111e794bae40cad3637b1/View/FullText.html?contextData=%28sc.Default%29&transitionType=Default
"Plaintiffs are beneficial owners of constitutionally protected debt of the Commonwealth of Puerto Rico. Their bonds, known as Constitutional Debt, are backed by multiple, reinforcing guarantees set forth in Article VI of the Puerto Rico Constitution, which provide that their bonds will be paid in full, no matter what. The Legislative Assembly and Governor of Puerto Rico are thus prohibited by the supreme law of Puerto Rico from refusing to pay the Constitutional Debt."
Actually not so hard to finally know who holds the bond debt!
This is where it gets down into the legal weeds.
http://www.maketheroadct.org/ :Interesting relationship.
Hedge Clippers: http://hedgeclippers.org/
http://hedgeclippers.org/rogues-gallery-vultures-in-puerto-rico/
This is an interesting site. It appears to aim at identifying beneficial ownership. Something that should be the legal information requirement of all financial matters and transactions. That will identify all the links to the beneficial owner of financial paper without any need for research or investigation. It is the ultimate spotlight that reveals everything. It should be a public ledger blockchain validation of ownership traced back to the beneficial owner that has true "ownership" title of the value of any financial paper. The original purchaser and price of the financial document related to ultimate ownership of a debt based asset.
All this relates:
https://www.google.com/search?q=beneficial+owner+blockchain&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:unofficial
One of the links from that search: This is good!
https://www.forbes.com/sites/groupthink/2017/09/20/why-the-delaware-blockchain-initiative-matters-to-all-dealmakers/#3379c9d77550
Delaware Blockchain Initiative: This is Big. Youuge! I didn't know anything about this but had recognized the need for the application of blockchain to document and prove beneficial ownership.
https://www.google.com/search?q=Delaware+Blockchain+Initiative&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:unofficial
Medscient LLC
http://medscient.com/
https://www.bizapedia.com/de/medscient-llc.html
1007 N. Orange St.
4th Floor
Wilmington, DE 19801
Space provider at this address: http://themillspace.com
files.constantcontact.com/01c210be101/13b319b6-0d4f-4b7e-9142-e26e5d4f4ad9.pdf
The Med
ical Society of Delaware forms
partnership to improve health
care pre
-
authorization processes using
distributed ledger
technology
August 7,, 2017
FOR IMMEDIATE RELEASE
Contact (ffor MSD)) : Contact (ffor Medscient))::
Mark B.. Thompson,, MHSA Vince Albanese
Executive Director CEO
302.. 444 . 6958 855 - 963 - 3724
Mark..TThompson@@mmedsocdel..oorg
valbanese@@mmedscient..ccom
The Medical Society of Delawar e (MM S D)) has teamed up with health care services company Medscient to develop a solution to address the challenges that prior authorization requirements pose to patients and healthcare providers.. T he solution will us e distributed ledger technology developed by Symbiont,, the State of Delaware’s technology partner in t he Delaware Blockchain Initiative .
The M S D and Medscient will present a Proof of Concept of the solution at the Medicaid Enterprise Systems C onference on August 18 in Baltimore , with the long - term goal of implementing the system statewide to reduce the delays and added expense often associated with prior authorizations..
“TThis is truly an exciting project,,”” said MSD Vice Pre sident,, Andrew Dahlke,, MD.. “ The distributed l edger is a transformative technology that offers a definitive solution to the problem of pre - authorization that can benefit all parties — patients,, doctors , nurses,, hospitals and insurers..””
Distributed ledger te chnology and smart contracts will execute rules agreed upon by caregivers and insurers to automate the pre - authorization process , Dahlke explained.. This should redu c e the need for phone calls,, faxes and lengthy turnaround times that generate added expense for providers and insurers,, and that all too often delay badly - needed patient care..
“TThe entire health care community agrees that pre - authorization processes need improvement,,”” Dahlke said.. “WWe are confident that this Proof of Concept will not only address this particular pain point,, but will lay the groundwork for streamlining other health care administrative issues as well..””
The Metrics of Trust
The k ey to the technology is that it provides both insurers and care providers with a common data set of patient information on a distributed ledger,, where it can be securely shared by all parties,, explained Vince Albanese,, CEO of Medscient.. The data is used to create smart contracts,, which become the rules used to automatically make pre - authorization decisions .
“EEssentially,, we are negotiating the ‘mmetrics of trust’’ between the parties,,”” he explains.. “WWe are coding agreed - upon rules of pre - authorization in smart contracts that will in turn execute decisions that all parties can agree are appropriate and correct..”” The solution will provide automated prior authorization decisions more quickly,, consistently and objectively,, he noted..
August 7,, 2017
FOR IMMEDIATE RELEASE
Contact (ffor MSD)) : Contact (ffor Medscient))::
Mark B.. Thompson,, MHSA Vince Albanese
Executive Director CEO
302.. 444 . 6958 855 - 963 - 3724
Mark..TThompson@@mmedsocdel..oorg
valbanese@@mmedscient..ccom
The Medical Society of Delawar e (MM S D)) has teamed up with health care services company Medscient to develop a solution to address the challenges that prior authorization requirements pose to patients and healthcare providers.. T he solution will us e distributed ledger technology developed by Symbiont,, the State of Delaware’s technology partner in t he Delaware Blockchain Initiative .
The M S D and Medscient will present a Proof of Concept of the solution at the Medicaid Enterprise Systems C onference on August 18 in Baltimore , with the long - term goal of implementing the system statewide to reduce the delays and added expense often associated with prior authorizations..
“TThis is truly an exciting project,,”” said MSD Vice Pre sident,, Andrew Dahlke,, MD.. “ The distributed l edger is a transformative technology that offers a definitive solution to the problem of pre - authorization that can benefit all parties — patients,, doctors , nurses,, hospitals and insurers..””
Distributed ledger te chnology and smart contracts will execute rules agreed upon by caregivers and insurers to automate the pre - authorization process , Dahlke explained.. This should redu c e the need for phone calls,, faxes and lengthy turnaround times that generate added expense for providers and insurers,, and that all too often delay badly - needed patient care..
“TThe entire health care community agrees that pre - authorization processes need improvement,,”” Dahlke said.. “WWe are confident that this Proof of Concept will not only address this particular pain point,, but will lay the groundwork for streamlining other health care administrative issues as well..””
The Metrics of Trust
The k ey to the technology is that it provides both insurers and care providers with a common data set of patient information on a distributed ledger,, where it can be securely shared by all parties,, explained Vince Albanese,, CEO of Medscient.. The data is used to create smart contracts,, which become the rules used to automatically make pre - authorization decisions .
“EEssentially,, we are negotiating the ‘mmetrics of trust’’ between the parties,,”” he explains.. “WWe are coding agreed - upon rules of pre - authorization in smart contracts that will in turn execute decisions that all parties can agree are appropriate and correct..”” The solution will provide automated prior authorization decisions more quickly,, consistently and objectively,, he noted..
Medscient is working with the M S D to document the current pr e - authorization landscape and capturing use cases.. The next step will be to model the future state of pre - authorization,, to envision what an automated environment will look like and how it will impact the involved parties.. “TThis exercise is critical to neg otiate the metrics of trust and to project the success of the POC ,”” Albanese said..
Delaware,, taking the lead on innovative healthcare solutions
The State of Delaware has staked out an early lead and selected a technology partner in the distributed ledger ecosystem,, which makes it an ideal venue for the project.. “There will be a lot of talk about distributed ledger solutions at the Medicare conference in August,, but thanks to the vision and proactive efforts of the Medical Society of Delaware and the D elawa re Blockchain Initiative,, we will be able to talk about real results,,”” Albanese said..
“ We are thrilled that the Delaware Blockchain Initiative is giving rise to a use case with real,, tangible and meaningful benefits to the people of Delaware and beyond,,”” s aid Andrea Tinianow,, director of Global Delaware..
About Medical Society of Delaware
The Medical Society of Delaware is one of the oldest institutions of its kind in the United States and rich in history.. Founded in 1776 and incorporated on February 3,, 178 9,, The Medical Society of Delaware continues its support of physicians in their vigor and spirit to advance the profession,, which was the basis for its creation.. Our Mission is “TTo guide,, serve and support Delaware Physicians,, promoting the practice and pr ofession of medicine to enhance the health of our communities..””
About Medscient
Med s cient is focused on driving positive action and facilitating commerce for entities where trust fuels transactions.. We believe that the distributed ledger,, when applied properly,, is the vehicle upon which trusted commerce can occur.. We’re proudly headquartered in Delaware where once again , it’s the “ffirst state”” to take such a progressive approach..
#####
https://symbiont.io/
https://www.bloomberg.com/news/articles/2017-09-12/fixing-the-stock-market-s-clogged-toilet-starts-in-delaware
Symbiont is the source Blockchain Technology Application to anything. Medical or Finance.
How to invest in Symbiont? They have a partnership with Overstock.
This is where the trail of linkage relationships gets interesting. I had previously (a year or more?) recommended Overstock as a Blockchain investment to a friend that was looking for an investment but was focusing on Exon Mobile. I still have both on my Yahoo stock watch list. For a long time I have looked at Overstock performance and the chart is flat. Glad she did not act on my recommendation. Until recently.
Its up. Overstock business model was not blockchain but the founder had creative ideas that lead to involvement in Blockchain. That is what I was interested in. Application of the Ethereum blockchain to something other than digital crypto currency. That is a Money Market Application. A very risky one. My enthusiasm was for a Stock Market Application to something other than Crypto Currency although the idea of Blockchain was born in Crypto Currency, Bitcoin. A good way to make or loose a lot of money. More likely loose. Like in the lottery. Yes.....Absolutely in hindsight buying Crypto Currency (at the right time) as a money market investment and holding it for speculation was the way to get rich. However the purpose of Crypto Currency is to be a medium of exchange. To spend it like cash to buy things. Not hide it under a mattress and convert it to real dollars when the value of the currency went up. It requires spenders to give value to the currency. There were more investors and holders than spenders therefor the value growth of the currency would be substantial initially but would drop when there were few spenders of currency.
Overstock might now be a good investment but Symbiont would be a very good one. All the good ones go to venture capital but that popular idea is not all that true. Some stats show them to be no better than the stock market.
Who is investing in Symbiont? Vince Albanese has been associated with many previous successes and I think that this might be one of his greatest opportunities.
Twitter is a great place to discover "right now" real time info:
https://twitter.com/andreatinianow?lang=en
OMG! A government partner link to the development of what looked like a private initiative? Not unlikely when I think about it. Hey, its Delaware!
https://global.delaware.gov/
Yes, of course why did I not see it in a link that I had already looked at and called Huge? Yoouuger than I imagined! The Shadow on the Wall is becoming clearer. Delaware: The nexus of blockchain application to business enterprise! I must take a second look at what is linked to this:
https://www.forbes.com/sites/groupthink/2017/09/20/why-the-delaware-blockchain-initiative-matters-to-all-dealmakers/#7a493a7d7550
https://www.mofo.com/resources/news/170814-mofo-joins-ethereum-blockchain-smart-contracts.html
https://www.mofo.com/
