Cartoon

Clean Hands

JM Ashby
Written by JM Ashby

(Cartoonist - Matt Davies)

In other news, the Rochester Drug Cooperative, the sixth largest drug distributor in the country, is facing federal criminal charges for conspiring to distribute drugs and defrauding the federal government. The charges are related to the distribution of opioids and were filed by prosecutors in the Southern District of New York in Manhattan.

Meanwhile, Ukraine has elected an actual TV comedian as their next president and he has no clear experience or policies. What could go wrong?

Finally, investors who hold debt in Sears are suing Treasury Secretary Steve Mnuchin, among others, for looting and bankrupting the company.

Sears on Thursday named Treasury Secretary Steven Mnuchin in a lawsuit against the company’s former CEO, Edward Lampert, alleging that Mnuchin was part of a group of board members who assisted Lampert and his hedge fund in stripping the bankrupted retailer of more than $2 billion in assets.

Lampert and his hedge fund, ESL Investments, were the largest shareholders in Sears, holding between 47.8 percent and 62 percent of its stock during the time of the alleged violations, from 2011 to 2015, according to the lawsuit. They, along with two other major shareholders named in the suit, received the vast majority of the benefit of spinning off five different company assets, according to the complaint.

Prior to becoming Treasury secretary, Mnuchin was an investor in ESL and “a member of ESL’s board of directors at all relevant times,” the filing says.

  • So Mnuchin is/was a vulture capitalist? Color me not surprised.