filename,text
IMAGES-005-HOUSE_OVERSIGHT_018528.txt,"I understood. Of course I understood. I knew intellectually that it wasn't about me, I knew
it was just about the situations at hand, but of course it hurt anyway. Two awesome men,
giving me the same message at once: This is too much, you're too extreme. A matter of
their boundaries. Not about me. Of course it hurt anyway.

""Is there anything else you want to add while we're having this conversation?"" I asked
The Artist finally, as we wound things up.

He thought for a minute, took my hand. ""Well, you're wonderful and beautiful, but you
know that.”

""Do I?"" Tasked, and made myself laugh to take the sting from my words.

KOK ok

An aside:

Occasionally, my mother has tried to convince me that I am at emotional risk in part
because of the fact that I am forward about my sexuality. Because -- I think this is how
the story goes, though she's never explicitly articulated it -- because it means that men
will see me as a disposable toy; the hot edgy girl he likes but would never settle down
with; the whore but not the Madonna. Cute enough to catch his attention and passionate
enough that he'll call her back but ultimately, not ""the keeper"", not the girl he'd have any
loyalty to in the end. I think my mom is afraid that I'll stumble out the other end of this
brilliant razor-edged fluorescent beautiful funhouse that is my ""young and attractive""
years, that I'll come down like a girl falling through a distorted mirrored sheet of glass.
That shards will burst everywhere and I'll collapse, covered in metaphorical blood, and
turn my eyes up to the harsh white stars and wonder how I let men use me and why.

This is the stereotype that I think she's afraid of, on my behalf, the one that comes up on
occasion when she comforts me through heartbreak. My mother is hardly a conservative
slut-shamer, but she loves me and she wants to protect me, so she tells me this. And I'll
admit it -- I fear it too, I feel those anxieties whispering behind me, thrumming through
my veins during times like these. What did I mean to him? Did I matter, did I make an
impression, does he give a damn? Would he be willing to Make A Commitment? He
doesn't care, God, I don't matter, and I was just stupid because God forbid I allow myself
to like or trust a man that I fuck, when everyone knows that men don't ever have feelings
for the women they fuck --

But actually those fears don't make sense, do they -- they don't make any sense at all if I
assume that men are complex humans who want to have relationships but aren't always
sure about it (much like myself), rather than sex-seeking-stereotype-activated-robots. The
fears don't make sense in the context of my own experience, which is full of friends and
relatives and lovers who have been caring, self-aware, honest men. The fears don't make
sense given the fact that very often, I'm the one who prefers not to have a serious
relationship right now, or who can only compromise up to a point.

And the fears especially don't make any damn sense if we assume that I want to pursue
my own goals, my own dreams, my own pleasures, my own sexuality on my own terms.
If we assume that I have no intention of playing by the rules in a world that tells me

HOUSE_OVERSIGHT_018528
"
IMAGES-002-HOUSE_OVERSIGHT_012565.txt,"‘ ‘eparting anni 1: r2nzeription, ies - “pee

Ph. 561.682.0905 - Fax. 561.682.1771
ome""1655 Paliti Beach Lakes Bivd.,Suité500°-""West Palin’ Beach, Fi 33401 © “nr teeter

HOUSE_OVERSIGHT_012565
"
IMAGES-001-HOUSE_OVERSIGHT_010874.txt,"286

ozaass 1 I've read it correctly. 025221 1 speak words. They both have the same physical ability
ozaoss | 2 A. Okay. 028228 2 to speak the English language, yes.

osess 3 Q. “Epstein also sexually trafficked the ozs225 3 Q. And, in fact, before, at least three years

ozas9 4 then-minor Jane Doe"" -- and that's Virginia Roberts, 28231 4 before December 30th, 2014, she had the ability to be

exsoe § correct? 025235 § quoted in an article, more than one article, in the

025002 § A. Yes. 025232 § Daily Mail in London about her experiences, correct?

ozso03 7 Q. -- ""making her available for sex to ozszae 7 A. That's correct.

ozs00s 8  politically-connected and financially-powerful people. ozs243 8 Q. Andam I correct that as of December 30th,

028009 9 Epstein's purposes in lending Jane Doe, along with other ozs24aa 9 2014, you didn't know whether she was paid for that

ozs2s0 10 interview or not?

ozsas1 11 A. Iwasn't sure. That's right.

ozs283 12 Q. And after December 30th, 2014, the references
028258 13 to Prince Andrew and Professor Dershowitz generated
025303 14 international publicity; isn't that true?

o2so14 10 young girls, to such powerful people were to ingratiate

025020 11 himself with them for business, personal, political, and

oz5024 12 financial gain, as well as to obtain potential blackmail

028022 13 information.”

ozs0:30 14 Did I read that correctly?

ozs0:31 15 A. You did.

oso31 16 Q. What did you mean by “obtain potential

028035 17 blackmail information""?

ozsoze 18 A. Okay. Let me just double-check.

o2sos1 19 Once the criminal organization had put the

ozs307 15 A. Okay. Which -- yes, I mean, in a general

25311 16 sense, I could ask which allegations, but these

28313 17 allegations did generate publicity, certainly.

o2sat6 18 Q. Yes. The allegations in your joinder motion
ovsate 19 that Prince Andrew and Professor Dershowitz had abused
025324 20 ~~ Virginia Roberts, then known as Jane Doe Number 3,
28328 24 generated a firestorm of publicity; did it not?
025330 22 A. It generated a lot of publicity, yes.
orsaa2 23 Q. And within days of that, you were -- you were
02:83:33 24 participating in attempting to arrange an interview with
028338 25 ABC News; isn't that true?

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

025045 20 bait out, so to speak, to various people, and they took

o2s049 24 the bait that -- you know, I'm -- I'm speaking

o2s040 22 colloquially here. These are -- these are young girls

025034 23 who are being sexually abused. Once the criminal

o2soss 24 organization had gotten people to sexually abuse

osose 25 these -- these young girls, at that point, they had
ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

285 287

estot 1 information that they could use to blackmail those orsa39 1 A. That -- within days of -- the chronology is
ozs02 2 people and -- and then get favors in exchange. o2zs343 2 important here: The allegations were filed in this

o2rsi0 | 3 And that's Epstein at the head of the o2s345 3 pleading on December 30th. Several days after that,
estos 4 organization would be the one who would benefit most | oz24e 4 Mr. Dershowitz then took to the airwaves to denounce,
os111 5 directly from the black -- the blackmail information. o2s353 § not only Brad and me, but -- but particularly of concern
ozstir2 6 Q. And by “blackmail information,” do you mean costs 6& to me was Virginia Roberts, this victim of sex

osii7 7 that Mr, Epstein then had information that he could ass 7 trafficking.

028119 8 threaten to disclose if the other person didn't do what ozsaso 8 And, at that point, as one of -- as one of

025124 9 Epstein asked therm to do? oscar 9 her attorneys, I was looking for a way to respond to
o2si2a 10 A. Precisely. aseos 10 that media assault on her by Mr. Dershowitz.

025126 141 Q. As of December 30th, 2014, if Miss Roberts ozsaoo 11 MR. SIMPSON: Move to strike as

025409 12 nonresponsive,

osso0 13 BY MR. SIMPSON:

orsats 14 Q. Did -- within 24 hours of this pleading being
025422 15 filed, there was publicity about the allegations against
028427 16 Prince Andrew and Mr. Dershowitz -- Professor

025431 17 Dershowitz; isn't that correct?

ost32 12 had access to publicity, she had exactly the same

ezst36 13 ability to blackmail people; isn't that true?

oasis 14 A. Absolutely not, A billionaire has far more

asia 15 resources than a victim of child sex abuse, particularly

o2s1as 16 one that has been forced into hiding in Australia to

ozsiaa 17 escape the criminal organization.

ozsis1 18 So for you to suggest that Virginia Roberts 02432 18 A. I don’t know the exact time frame, but

028434 19 that -- you know, roughly that time frame sounds about
ozsa36 20 = right.
o2se3e 21 Q. If Mr. -- if Professor Dershowitz had never

028152 19 had the same ability to blackmail somebody as Jeffrey

o2s156 20 Epstein is, I think, preposterous.

o2s200 21 Q. As of -- Miss -- Miss Roberts had the same
028203 22 ability as Jeffrey Epstein to reveal publicly the names
025212 23 of the people who she says sexually abused her, as did

028433 22 said anything, wouldn’t you expect that these

025442 23 allegations as to Prince Andrew, in particular, and

o2s217 24 Mr. Epstein; isn't that true? 28447 24 Professor Dershowitz would get substantial publicity?

o2sas0 25 A. There was -- there was --
ESQUIRE DEPOSITION SOLUTIONS ESQUIRE DEPOSITION SOLUTIONS

(954) 331-4400 (954) 331-4400
10/20/2015 01:08:15 PM Page 284 to 287 of 335 34 of 46 sheets

o2se19 25 A. You're talking about physical ability to

HOUSE_OVERSIGHT_010874
"
IMAGES-008-HOUSE_OVERSIGHT_026272.txt,"From: Michael Wolff

Sent: 3/23/2018 1:57:50 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: SB

Importance: — High

I think his FT performance yesterday was quite a hit (btw, he reiterated that my book was all true--helpful!).
Curiously, the liberals maybe more fascinated by him than the Trump base is.

On Fri, Mar 23, 2018 at 9:51 AM, jeffrey E. <jeevacation@gmail.com> wrote:
i passsed on your newsweek message yesterday. i think he is a bit lost no wins and donald off the rails

On Fri, Mar 23, 2018 at 9:01 AM, Michael Wolff (qT > wrote:

I reached out and I'm seeing him at 6:00 today.

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026272
"
IMAGES-005-HOUSE_OVERSIGHT_019150.txt,"<S.me

James PATTERSON

And—Reiter can’t shake the idea— other victims had to be

out there. That lined up with what Epstein’s neighbor reported:
e needed to find them as quickly as pos-

erenatirnn eichcatearcrems pees:

there were many girls. H
sible. It was a race against time.

As long as Epstein was free in Palm Beach,
e on El Brillo Way.

more girls were

sure to arrive at the side of the hous

Alison: September 11

A

i | t might start with th.
covers charity balls, :
Reporters there woul
So juicy. On top of that, ¢
freelance paparazzi and:

They'd kill for the stc
Heat.

Over at WPTV, the
one day.

It's a tip from a kid, sx
from a local high school.

q There’s a prostitution

a The tip gets brought

me producers divvy up
newscasts.

HOUSE_OVERSIGHT_019150
"
IMAGES-006-HOUSE_OVERSIGHT_021677.txt,"(Rev. 05-01-2008) @ @

UNCLASSIFIED

FEDERAL BUREAU OF INVESTIGATION

Precedence: ROUTINE Date: 11/24/2010

| To: Jacksonville Attn: CF
3 Miami “YaAttn: SA

From: Jacksonville Ree
Squad 10
Contact:

Approved By:
Drafted By:

Case ID #: 802R-3K-52669 -I&(Cclosed)
31E-MM-108062~ (Pending) .2 30

Title:
b6

POTENTIAL CONFIDENTIAL HUMAN SOURCE; b7c
HUMAN TRAFFICKING; .

GIs

JACKSONVILLE DIVISION

JEFFREY EPSTEIN;

b6
b7C¢

WSTA-CHILD PROSTITUTION
b6

synopsis: a information to the Miami Division re [ be
b7D

Reference: 31E-MM-108062 Serial 226

Details: Jacksonville sources reported

On 10/27/2010,
was attendin

Brief contact was made
and captioned 802R file w
sources reported that received

and departed the Jacksonville area sometime during the
week oO Captioned 802R file was subsequently closed
on

UNCLASSIFIED

HOUSE_OVERSIGHT_021677

"
IMAGES-009-HOUSE_OVERSIGHT_027525.txt,"Is Invitation: No

r,

GUID: 893C975E-429A-4214-A5E0-76F7B703EFC1

Message: Massage

Sender: iii!

Time: 11/18/18 09:36:43 AM (564255403)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 1197C459-O0DF8-4D1B-B386-EF9192D8F505

Message: And my wife was happy to see me more than usually

Time: 11/18/18 09:37:15 AM (564255435)
Flags: 1126401
Is Read: Yes

Is Invitation: No

GUID: 7H612164-6F95-4E06-AD1C-4EF760045FBD

Message: Just landed in Brussels, we have EU Foreign ministers meeting here tomorrow

Sender: e:jeeitunes@gmail.com

Time: 11/18/18 10:00:53 AM (564256853)
Flags: 1085445

Is Read: No

Is Invitation: No

Pe
a

GUID: BA6F2229-ACFE-4649-819E-344731BD6D76

Message: Understood

Time: 11/19/18 02:13:19 AM (564315199)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 573C9866-22E8-47A1-BE38-29902BC8CC36

Message: As of today...

Time: 11/19/18 02:38:30 AM (564316710)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: E1F/76C72-B10A-42B9-93C9-BDCDB8522F9

Gl

HOUSE_OVERSIGHT_027525
"
IMAGES-007-HOUSE_OVERSIGHT_023429.txt,"From: Lisa New [

Sent: 9/24/2014 12:25:39 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Highlight

Importance: — High

Jeffrey , if you are conceding any bit of the other things , with all due respect, that's exciting, as its new for me
to be right about anything in the area of budgets .

As it happens,and as of today , there is huge dissatisfaction in public television world with the lower budget
Clinton footage versus the Herbie Hancock footage. David g was there for Herbie and not for Clinton. I can see
the difference .the pilot was made for 100, 000 , with savings on the Clinton but it does show

Sent from my iPhone

On Sep 23, 2014, at 7:57 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:

clinton woody kagan , do not add one penny to budget

On Tue, Sep 23, 2014 at 6:17 PM, Lisa New <> wrote:
That was fun- definitely the highlight of a day that was not without other interesting moments

Don't know which was better-- the wholly unexpected surprise reminder (by a prime minister) of my boyfriend
from 1976( who was in high school, who lived with his doting parents), or , getting creamed on my producer's
budget but then offered the opportunity to profess poetry for production funds . There may be someone as good
in New York, but i'll never tell you and you really have a heck of a seminar table there . When do we do
Whitman's ""Song of Myself” 1-15 Who else is reading with us? I'm ready .

A few other follow ups :

David and Brigid point out that reality tv doesn't cost anything because it is, as it sounds, very low budget . No
writing , no special expertise or knowledge or research , no archival footage , no copyright clearance , no
actors , no travel beyond the one location , certainly no clinton or woody allen or justice elena kagan or david
brooks or Lena Dunham or even Professor New. That said , I think If were hiring the crew id do it for less --
probably 1, 250,000 all in . But I haven't won 10 Emmys and David has . That has value too. As does Wgbh .
But I'll be more prepared for the next conversation and want to be much more prepared for templeton, so thank
you .

T really liked Michael. I would like to send him some stuff , but in googling him I noticed that we have the
same birthday! May I have his email?

You are in! Yeay! Lets see what this may mean? I'll improve my numbers and you'll improve your deep
reading ?

Sent from my iPhone

please note

HOUSE_OVERSIGHT_023429
"
IMAGES-004-HOUSE_OVERSIGHT_017534.txt,"DAVID BROOKS

David Brooks (born August 11, 1961) is a political and cultural
commentator who writes for The New York Times. He worked as
an editorial writer and film reviewer for the Washington Times;
a reporter and later op-ed editor for The Wall Street Journal;

a senior editor at The Weekly Standard from its inception; a
contributing editor at Newsweek and The Atlantic Monthly;

and as a commentator on National Public Radio. He is

now a columnist for The New York Times and commentator

on PBS NewsHour.

Brooks, who is Jewish, was born in Toronto,
Canada—his father was a U.S. citizen living in Canada at the
time—and grew up in New York City in Stuyvesant Town. He
graduated from Grace Church School in New York City, Radnor
High School (located in a Main Line suburb of Philadelphia)
in 1979 and from the University of Chicago, with a degree
in history, in 1983.

Brooks edited a 1996 anthology of writings by
new conservative writers, Backward and Upward: The New
Conservative Writing. He wrote a book of cultural commentary
titled Bobos in Paradise: The New Upper Class and How They
Got There, published in 2000, and followed it four years later
with On Paradise Drive: How We Live Now (And Always Have)
in the Future Tense.

He also authored The Social Animal: The Hidden
Sources of Love, Character and Achievement. The book was
excerpted in The New Yorker magazine in January 2011
and received mixed reviews upon its full publication, by
Random House, in March of that year. The book has been a
commercial success, reaching the #3 spot on the Publishers
Weekly best-sellers list for non-fiction in April 2011.

Brooks was a visiting professor of public policy at
Duke University’s Terry Sanford Institute of Public Policy, and
he taught an undergraduate seminar there in the fall of 2006.

He and his wife live in the Cleveland Park
neighborhood of Northwest Washington, DC.

Brooks describes himself as being originally a liberal
before “coming to my senses.” In 1983, he wrote a parody
of conservative pundit William F. Buckley Jr., which said
“Tn the afternoons he is in the habit of going into crowded
rooms and making everybody else feel inferior. The evenings
are reserved for extended bouts of name-dropping.”

Buckley admired the parody and offered Brooks
ajob with National Review. A turning point in Brooks’s
thinking came later that year in a televised debate with
Milton Friedman, which, as Brooks describes it, “was
essentially me making a point, and he making a two-
sentence rebuttal which totally devastated my point.”

Before the 2003 invasion of Iraq, Brooks argued
forcefully for American military intervention, echoing the
belief of commentators and political figures that American
and British forces would be welcomed as liberators. In the
spring of 2004, some of his opinion pieces suggested that
he had tempered his earlier optimism about the war.

Brooks’ public writing about the U.S. wars in
Afghanistan and Iraq is similar to those by neoconservatives,
according to a Salon article by Glenn Greenwald, that labels
Brooks as a neoconservative. His angry dismissal of the
conviction of Scooter Libby as being “a farce” and having “no

significance” was derided by political blogger Andrew Sullivan.

On August 10, 2006, Brooks wrote a column for The
New York Times titled “Party No. 3”. The column proposed
the idea of the McCain-Lieberman Party, or the fictional
representation of the fictional moderate majority in America.

Ottawa Citizen commentator David Warren has
identified Brooks as the sort of conservative pundit that
liberals like, someone who is “sophisticated” and “engages
with” the liberal agenda, in contrast to a real conservative like
Charles Krauthammer. Brooks has long been a supporter of
John McCain; however, he did not show a liking for McCain’s
2008 running mate, Sarah Palin, calling her a “cancer” on
the Republican Party. He has referred to her as a “joke,”
unlikely to ever win the Republican nomination. But he later
admitted during a CSPAN interview that he had gone too far
in his previous “cancer” comments about Palin, which he
regretted, and simply stated he was not a fan of her values.

In a March 2007 article published in The New
York Times titled “No U-Turns”, Brooks explained that the
Republican Party must distance itself from the minimal-
government conservative principles that had arisen
during the Abraham Lincoln, Barry Goldwater, Ronald
Reagan and Calvin Coolidge eras. He claims that these
core concepts had served their purposes and should
no longer be embraced by Republicans in order to win
elections, which he considers the most important purpose
of a political party designed to serve the political class.

Brooks has been a frequent admirer of President
Barack Obama. In an August 2009 profile of Brooks, The
New Republic describes his first encounter with Obama, in the
spring of 2005: “Usually when I talk to senators, while they
may know a policy area better than me, they generally don’t
know political philosophy better than me. I got the sense he
knew both better than me. [...] remember distinctly an image
of—we were sitting on his couches, and I was looking at his
pant leg and his perfectly creased pant, and I’m thinking,

a) he’s going to be president and b) he’ll be a very good
president.” Two days after Obama’s second autobiography,

The Audacity of Hope, hit bookstores, Brooks published a
column in The New York Times, titled “Run, Barack, Run”,
urging the Chicago politician to run for president. However as
of December 2011 in a CSPAN interview, Brook’s opinion of
Obama’s presidency was more tempered, giving Obama only
a “B-” rating, and said that Obama’s chances of reelection
would be less than 50-50 if elections were held at that time.

In writing for The New York Times in January 2010,
Brooks described Israel as “an astonishing success story”.
He wrote that “Jews are a famously accomplished group,”
who, because they were “forced to give up farming in the
Middle Ages... have been living off their wits ever since”. In
Brooks’ view, “Israel’s technological success is the fruition
of the Zionist dream. The country was not founded so stray
settlers could sit among thousands of angry Palestinians
in Hebron. It was founded so Jews would have a safe place
to come together and create things for the world.”

Brooks opposes what he sees as self-destructive
behavior, such as teenage sex and divorce. His view is that
“sex is more explicit everywhere barring real life. As the
entertainment media have become more sex-saturated,
American teenagers have become more sexually abstemious”
by “waiting longer to have sex...[and] having fewer partners.”
He sees the culture war as nearly over, because “today’s
young people...seem happy with the frankness of the left
and the wholesomeness of the right.” As a result, he
is optimistic about the United States’ social stability,
which he considers to be “in the middle of an
amazing moment of improvement and repair.”

Brooks also broke with many in the conservative
movement when, in late 2003, he came out in favor of same-
sex marriage in his New York Times column. He equated
the idea with traditional conservative values: “We should
insist on gay marriage. We should regard it as scandalous
that two people could claim to love each other and not
wanit to sanctify their love with marriage and fidelity...

It’s going to be up to conservatives to make the important,
moral case for marriage, including gay marriage.”

Regarding abortion, Brooks has advocated for
pro-choice government regulations: abortion should be
legal, with parental consent for minors, during the first four
or five months, and illegal afterward, except in extremely
rare circumstances. (New York Times, April 22, 2002.)

HOUSE_OVERSIGHT_017534
"
IMAGES-011-HOUSE_OVERSIGHT_031825.txt,"From: DAVID SCHOEN

Sent: 6/15/2019 12:21:00 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: From Fox News - Jeffrey Epstein, registered sex offender, settles civil lawsuit and avoids testimony from alleged

victims

Importance: — High

I know it was an old piece but Fox is running it again today.

The numerous young women who say they were sexually abused by
wealthy, Clinton-linked financier Jeffrey Epstein no longer appear set to
testify after a last-minute settlement was reached in a closely-watched civil
lawsuit against the registered sex offender.

https://www.foxnews.com/us/jeffrey-epstein-a-registered-sex-offender-settles-
civil-lawsuit-and-avoids-testimony-from-alleged-victims

Explore the Fox News apps that are right for you at http://www.foxnews.com/apps-
products/index.html.

HOUSE_OVERSIGHT_031825
"
IMAGES-006-HOUSE_OVERSIGHT_020569.txt,"110

economic retaliation. For example, in June 2018, the Wall Street Journal reported that Xi
warned a group of global CEOs that China would retaliate with “qualitative measures”
targeted at their companies, if the United States did not back off from the tariff war.**
Second, China is seeking to pressure American companies into legitimizing its geopolitical
claims and interests, for example by demanding that Western firms overtly acknowledge
that Taiwan is an irreversible part of China. Third, China has wooed American companies
with both sticks and carrots into serving its strategic interests abroad, most notably via its
interactions with Hollywood.

China’s source of leverage over American companies comes from its large domestic market
and its key role in international supply chains; by contrast, China holds little direct
ownership in American companies. American affiliates (i.e., those at least half-owned by
American multinational companies) employ 1.7 million Chinese workers and are indirectly
responsible for the employment of millions more.* More than fifty American companies
report that they generate at least 20 percent of their revenues from China.*° Naturally,
many companies (and industry associations) with large stakes in China lobby the American
government on issues related to China, often seeking to exert a moderating influence on US
policy. This is not in itself evidence of improper influence, but it merits scrutiny and should
be weighed in the context of other evidence in this section.”

Seeking to Influence American Politics via Corporate Interests

China does, in fact, exert influence on how at least some American companies and
corporate executives interact with the American government. This influence generally
takes two forms. In the first, China relies on American corporations to retard efforts by the
American government to investigate and sanction Chinese behavior deemed harmful to
national economic or strategic interests. For example, some American corporations have
expressed reservations about cooperating with US trade investigations for fear of retaliation
by China.

Chinese officials also regularly convene senior American executives at special meetings
with government officials or major conferences. During these engagements, Western
CEOs’ positive comments on the country receive wide play in the foreign and domestic
media, one of many ways in which the Party continues to seek the appearance of outside
legitimization for domestic purposes. In addition, China uses these meetings to attempt to
coerce American executives to take China’s side in disputes with the US government. As
the risk of a trade war mounted in spring 2018, Chinese officials explicitly warned gathered
executives to lobby the US government to back down or risk disruption to their business
in China.** The US government does not strategically convene foreign business leaders, let
alone instruct them to use their influence to shape policy favorable to the United States in
their home countries.

Corporations

HOUSE_OVERSIGHT_020569
"
IMAGES-007-HOUSE_OVERSIGHT_024346.txt,"(9) These RSUs vest 25% on April 1, 2019, and the remaining amount vests in 36 equal monthly installments on the first of each month thereafter.
(10) These performance-contingent RSUs vest on the date Carvana files a periodic report (1.e., Form 10-Q or Form 10-K) with the SEC reflecting positive
EBITDA for a calendar quarter.

-37-

HOUSE_OVERSIGHT_024346
"
IMAGES-012-HOUSE_OVERSIGHT_033252.txt,"From: Robert Lawrence Kuhn

Sent: 9/25/2017 7:06:34 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Radical Breakthroughs - Kuhn

Attachments: BBC World News - Kuhn - China, North Korea Bomb, BRICS Summit - 09_03_17.pdf; Untitled attachment
485043.htm; BBC World News - Kuhn - Mynamar Rohingya Refugees - China-Mynamar - 09_14 17.pdf; Untitled
attachment 485046.htm

Importance: — High

Dear Jeffrey:

Trust all is well. We are in full pre-production of our “Radical Breakthroughs” series/season for Closer To
Truth. We expect to have a complete production plan, with contributors, locations and schedule, by mid/late
November - when (coincidentally) I will be back in NY.

My next email will add detail, including first (rough) outlines of the first two episodes. I’ll be copying the
producer/director of Closer To Truth, as | will from now on with all reports/communications related to the
content of the series. Whenever we want to communicate privately, about the series/grant or anything else,
please use a separate email (or respond to this one).

Iam in Santa Monica for two weeks, then Beijing for the big Party Congress. I may need to stay until after
Trump’s (supposed) visit. Attached are my two recent BBC commentaries on China (N.Korea bomb and
Myanmar refugees).

Always available to Skype.

I am truly excited about the series - nothing like it, could have impact - and I deeply appreciate your
generosity/support, confidence and trust.

Take care and warm regards,

Robert

HOUSE_OVERSIGHT_033252
"
IMAGES-003-HOUSE_OVERSIGHT_015125.txt,"part of an overall plan “to destroy,” in the words of Frank Sturgis, “the
office of the presidency.”

Haldeman was a saboteur in the guise of a sycophant. In 1967, when
he was a vice president at the J. Walter Thompson advertising agency, he
sent me a long memo on how | could use the media in my‘ 68 campaign.
| have since learned that during World War (Il, various
corporations—Standard Oil, Wrigley Chewing Gum, Paramount
Pictures—lent their services to the Office of Strategic Services, which later
became the CIA. The Thompson Agency supplied Kenneth Hinks to be
chief of the OSS planning staff. One of Haldeman’ s predecessors, Richard
de Rochemont, a vice president of J. Walter Thompson, was offered a
position with the Secret Intelligence Branch of the OSS. Another
Thompson official, Donald Coster, stayed on with the CIA in South Vietnam
from 1959 to 1962.

That’ s when Haldeman really latched on to me, in the ' 62
campaign. And when we lost, it was Haldeman who persuaded me to make
a public fool of myself with that godawful “You won’ t have Nixon to
kick around any more” press conference. It was Haldeman in 1972 who
acted as a double agent and conspired with Dick Tuck to have all those

Chinese fortune cookies contain the same message: “What about the

HOUSE_OVERSIGHT_015125
"
IMAGES-004-HOUSE_OVERSIGHT_018388.txt,"state can lose many battles, but the only loss that is always fatal is to be defeated in
strategy.”

The leaders of our major global powers may be as blind to the dangers and
possibility of our world as Europe’s heads of states were to the nature of their era
100 years ago. You know what the Seventh Sense is now. Who among them has it?
We should wonder if we’ve merely now done Hiram Maxim one better: Have we
developed something with our age of connection that will reach its fullest potential
in allowing us to slit each other’s throats more efficiently? I don’t think so, but
understanding why means we need consider the networks, to feel them out with our
new sense.

The essential problem of politics is not difficult to state. It was true for Seneca in the
Roman Forum as it was for Lobengula on the Shangani riverbank or is now for
congressmen in Washington or cadres is Beijing: Who has power? Why? By power |
mean the ability to control others, to tell them what to do - or what not to do; and of
course to avoid being dictated to yourself in that “Surrender or die” way. Max
Weber, the German sociologist of the last century, had it right: Macht, the ability to
achieve what you want despite the resistance of others.22? Don’t develop nuclear
weapons. Or Don’t attack us. Or, Join our alliance against Sparta are all examples of
power in action. The movement of power, from the balled-up fists of Kings and
Popes and Emperors, to the hands of markets and voters and citizens, and now into
a fresh, connected dynamic is the story of history. This is a lurching, worrisome,
dangerous process even if it suggests some miraculous transformations. Whole new
topologies of vital, life-giving control are emerging; surely contests for their mastery
will occur. The terrible human infection of a hunger for power and security isn't,
much as we might wish, something quarantined safely to the pages of Homer or
Hitler.

So let’s pass beyond describing the new and surprising elements that make up a
Seventh Sense and onto its use. Examine our world with this instinct, for a moment.
Picture that constantly stretched, complex network, spitting out drones, viruses,
fortunes and disruption as it is wont to do. Recall the seething, insidious power of
the Warez Dudes, the New Caste, the black boxes they all hunger to penetrate and
make weird. Think of the compression of time, of twisting topologies that can place
the distant atop us in an instant. What single feature stands out? Our world shuffles
now, as all these forces slip into an order defined by closed spaces, by fresh in and
out borders. What the Seventh Sense reveals as it feels at this new arrangement is
gates. Everywhere. Facebook, bitcoin users, doctors with privileged access to
genetic databases - all are gated, in-or-out worlds. Look around and see how many
gates enclose you or your family or your company. The Internet. The FTSE 100. Your
Apple or Android operating system. In our connected age, the act of drawing lines

229 Max Weber: Max Weber and Sam Whimster, The Essential Weber: A Reader.
(London: Routledge, 2004), 355

156

HOUSE_OVERSIGHT_018388
"
IMAGES-009-HOUSE_OVERSIGHT_028399.txt,""",""type™:""text""}],""identifier"":"" anf-container-4"",""layout""™:""image-

container"", ""role"":""container"", ""type"":""container""}],""identifier"":"" anf-section-—
2"",""layout"":""default-

section"", ""role"":""section"", ""scene"": {""fadeColor"":""#FFFFFF"",""type"":""fading sticky header""}
,""type"":""section""}, {""identifier"":"" anf-body-
3"",""inlineTextStyles"": [{""range""™: {""length"":234,""start"":0},""textStyle"":"" anf-ts-

i""}, {""range™: {""length"":234,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"": ""body"", ""text"": ""WASHINGTON 4€"" Judge Brett M. Kavanaugh, facing mounting
allegations of sexual impropriety and growing doubts over his confirmation to the
Supreme Court, vowed on Monday to fight the a€esmears,d4€ saying he will not withdraw

his nomination."",""type"":""text""}, {""identifier"":"" anf-body-

4"",""inlineTextStyles"": [{""range"":{""length"":410,""start"":0},""textStyle"":"" anf-ts-

I""}, {""range""™: {""length"":410,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"": ""body"", ""text"": ""a€eThese are smears, pure and simple. And they debase our

public discourse,a4€ he wrote in a letter to the senior Republican and Democrat on the
Senate Judiciary Committee. 4€eBut they are also a threat to any man or woman who
wishes to serve our country. Such grotesque and obvious character assassination 4€"" if
allowed to succeed 4€"" will dissuade competent and good people of all political

persuasions from service.a€"", ""type"": ""text""}, {""identifier"":"" anf-body-
5"", ""inlineTextsStyles"": [{""range"":{""length"":277,""start"":0},""textStyle"":"" anf-ts-
i""},{""range""™:{""Length"":277, ""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"":""body"", ""text"": ""a€el will not be intimidated into withdrawing from this
process,a4€ he continued. a4€eThe coordinated effort to destroy my good name will not
drive me out. The vile threats of violence against my family will not drive me out. The
last-minute character assassination will not
succeed. 4€"", ""type"": ""text""}, {""additions™: [{""URL"":""https://int.nyt.com/data/documenthelpe
r/319-brett-kavanaugh-letter-sexual
misconduct/d3dfb41lad1f992b33acd/optimized/full.pdf#page=1"", ""range"": {""length"":30, ""start""

sl}, ""type™:""link""}],""identifier"":"" anf-body-

6"", ""inlineTextStyles"": [{""range"": {""length"":32,""start"":0},""textStyle"":"" anf-ts-

i™}, {""range""™:{""length"":32,""start"":0},""textStyle"":"" anf-ts-

I""}, {""range""™: {""length"":30,""start"":1},""textStyle""™:"" anf-ts-36""}],""layout"":""default-—
body"", ""role"": ""body"", ""text""™:""[Read Judge Kavanaughae™s

letter.]"",""type"":""text""}, {""identifier"":"" anf-body-

7"",""inlineTextStyles"": [{""range"":{""length"":409,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range""™:{""length"":409,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"":""body"", ""text"":""Senior Republicans, led by Senator Mitch McConnell, the
majority leader, are closing ranks around the nominee, and they echoed Judge
Kavanaughaé€™s claims, accusing Democrats of running a4€ea smear campaigna€ to derail his
confirmation. Mr. McConnell took to the Senate floor Monday afternoon to declare
unequivocally that the Senate will move forward with a planned hearing on Thursday and
a vote on the nomination."",""type"":""text""}, {""bannerType""™: ""any"", ""identifier""™:"" anf-

banner advertisement-1"", ""layout"": ""ComponentLayout—

4"",""role"":""banner advertisement"", ""type"":""banner advertisement""}, {""identifier""™:"" anf-
body-8"", ""inlineTextStyles"": [{""range"": {""length"":358,""start"":0},""textStyle"":"" anf-ts-
i""},{""range™:{""length"":358,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-
body"", ""role"": ""body"", ""text"": ""a€el want to make it perfectly clear, Mr. President: Judge
Kavanaugh will be voted on here on the Senate floor,a€ Mr. McConnell said, addressing
the Senatead€™s presiding officer and leaving no room to pressure the nominee to
withdraw. d4€eUp or down. On the Senate floor, this fine nominee to the Supreme Court
will receive a vote in this Senate in the near

future.d4€"", ""type"": ""text""}, {""components"": [{""caption"":""In a speech on the Senate floor,
Senator Mitch McConnell, the majority leader, defended Judge Brett Kavanaugh against
the sexual misconduct allegations against the Supreme Court nominee and said Democrats
were helping conduct a &€esmear campaign.a€"",""identifier"":"" anft-video-
i"",""layout"": ""video"", ""resourceldentifier"":""VideoResourceRef

1"",""role"": ""video"", ""stillImageIdentifier""™:""51de701d52032712414662e37fc9d436"", ""type"": ""vid
eo""}, {""identifier"":"" anf-heading6-1"", ""layout"": ""video-
headline"", ""role"": ""heading6"", ""text"":""McConnell Accuses Democrats of 4€~Trying to
Destroyae™ Kavanaugh"", ""textStyle"":""video-headline"", ""type"": ""text""™}, {""identifier"":"" anf-
caption-2"",""inlineTextStyles"": [{""range"": {""length"":29, ""start"":245}, ""textStyle"": ""photo-
credit ""}],""layout"":""default-caption"", ""role"": ""caption"", ""text"":""In a speech on the Senate
floor, Senator Mitch McConnell, the majority leader, defended Judge Brett Kavanaugh
against the sexual misconduct allegations against the Supreme Court nominee and said
Democrats were helping conduct a d4€esmear campaign.a€ By C-SPAN on Sept. 24, 2018.
"",""type™:""text""}],""identifier"":"" anf-container-1"", ""layout"": ""image-

container"", ""role"":""container"", ""type"":""container""}, {""identifier"":"" anf-body-

W

W

HOUSE_OVERSIGHT_028399
"
IMAGES-011-HOUSE_OVERSIGHT_031372.txt,"—_ Profile: Michael Nobel, who visited Japan in March, 2010

NOBEL CHARITABLE TRUST

Michael Nobel

Trustee, Nobel Family Society
Former Chairman of the Nobel Charitable Trust in Switzerland
Former Chairman of the Appeal of the Peace Prize Laureates Foundation.

yN

[Michael Nobel’s Profile]

Dr. Nobel was born in Sweden and has been living in Switzerland for many years. He is a citizen of Sweden and Switzerland. After studies in Sweden
and America he obtained a doctorate at the University of Lausanne in psycho-pedagogy in 1979. He then worked for seven years as a researcher in
social sciences at the Institute for Mass Communication at the Lausanne University and at the Institute of Social and Preventive Medicine and has
been a consultant to UNESCO in Paris and the United Nation’s Social Affairs Division in Geneva.

Commercially he participated in the introduction of magnetic resonance imaging and is chairman or board member of a total of 10 international
companies in the fields of diagnostics, treatment, financial investments and information systems in the field of medicine, satellite communications,
Internet service provision, airport security, management consulting and finance.

In his idealistic work Michael Nobel is chairman or board member of several non-for-profit organizations in the field of conflict resolution, youth
education and development. He has also served as Chairman of the Nobel Charitable Trust, a trust that will honor politicians, scientists and
corporations who make a significant contribution in the field of renewable energy by providing awards. NCT also plans to hold international
conferences in this field.

Michael Nobel has received numerous international citations and awards for his work in the fields of medicine and conflict resolution including an
honorary doctorate from Soka University and an honorary professorship from the National Academy of Science of Azerbaijan. He is also an honorary
member of two Rotary clubs and in 1997 Rotary International conferred on him the Paul Harris Fellowship Award.

In 2002 he was awarded the Gandhi, King, Ikeda Award from Morehouse College in Atlanta, earlier only given once, to Prince El Hassan bin Talal of
Jordan. In 2004 he became the Board of Trustees Citation Recipient from the Midwest Research Institute of Kansas City. Previous recipients include
Margaret Thatcher (former Prime Minister of the United Kingdom), Henry Kissinger (former US National Security Advisor), Paul Volcker (former
chairman of the Federal Reserve Bank), Edward Teller (father of the H-bomb) and Henry Ford (founder of the Ford Motor Company).

In 2004 he was appointed foreign member of the Russian Academy of Natural Sciences as well as receiving the UNESCO medal for outstanding
contributions to the cultural dialogue between nations. The same year in Jerusalem he received the Albert Einstein Medal for Outstanding
Achievements in Life Sciences and Technology and in 2006 the International Order of Perfection, First Class.

13
HOUSE_OVERSIGHT_031372
"
IMAGES-002-HOUSE_OVERSIGHT_012954.txt,"38 3 A Patternist Philosophy of Mind

e Evolution , conceived as a general process via which patterns within a large population
thereof are differentially selected and used as the basis for formation of new patterns, based
on some “fitness function” that is generally tied to the goals of the agent

— Example: If trying to build a blocks structure that will surprise Bob, an agent may
simulate several procedures for building blocks structures in its “mind’s eye”, assessing
for each one the expected degree to which it might surprise Bob. The search through
procedure space could be conducted as a form of evolution, via an algorithm such as
MOSES.

e Autopoiesis: the process by which a system of interrelated patterns maintains its integrity,
via a dynamic in which whenever one of the patterns in the system begins to decrease in
intensity, some of the other patterns increase their intensity in a manner that causes the
troubled pattern to increase in intensity again

— Example: An agent’s set of strategies for building the base of a tower, and its set of
strategies for building the middle part of a tower, are likely to relate autopoietically. If
the system partially forgets how to build the base of a tower, then it may regenerate
this missing knowledge via using its knowledge about how to build the middle part
(i.e., it knows it needs to build the base in a way that will support good middle parts).
Similarly if it partially forgets how to build the middle part, then it may regenerate this
missing knowledge via using its knowledge about how to build the base (i.e. it knows a
good middle part should fit in well with the sorts of base it knows are good).

— This same sort of interdependence occurs between pattern-sets containing more than
two elements

— Sometimes (as in the above example) autopoietic interdependence in the mind is tied
to interdependencies in the physical world, sometimes not.

e Association. Patterns, when given attention, spread some of this attention to other pat-
terns that they have previously been associated with in some way. Furthermore, there is
Peirce’s law of mind [Pei34], which could be paraphrased in modern terms as stating that
the mind is an associative memory network, whose dynamics dictate that every idea in
the memory is an active agent, continually acting on those ideas with which the memory
associates it.

— Example: Building a blocks structure that resembles a tower, spreads attention to mem-
ories of prior towers the agents has seen, and also to memories of people the agent knows
have seen towers, and structures it has built at the same time as towers, structures that
resemble towers in various respects, etc.

e Differential attention allocation / credit assignment. Patterns that have been valu-
able for goal-achievement are given more attention, and are encouraged to participate in
giving rise to new patterns.

— Example: Perhaps in a prior instance of the task “build me a surprising structure out of
blocks,” searching through memory for non-blocks structures that the agent has played
with has proved a useful cognitive strategy. In that case, when the task is posed to the
agent again, it should tend to allocate disproportionate resources to this strategy.

e Pattern creation. Patterns that have been valuable for goal-achievement are mutated and
combined with each other to yield new patterns.

HOUSE_OVERSIGHT_012954
"
IMAGES-005-HOUSE_OVERSIGHT_018919.txt,"ws ¢

THE PALM BEACH POST = «

WEDNESDAY, JULY 26, 2006

Police kept watch on home, airport, sifted through trash

b> EPSTEIN from 1B

suggesting the county’s top
prosecutor disqualify himself.

“I must urge you to ex-
amine the unusual course that
your office’s handling of this

tter has taken and consider

Cz00d and sufficient reason
exists to require your dis-
qualification from the prose-
cution of these cases,” Reiter
wrote in a May 1 memo to
Krischer.

While not commenting
specifically on the Epstein
case, Mike Edmondson,
spokesman for the state at-
torney, said his office pre-
sents cases ‘other than mur-
ders to a grand jury when
there are questions about
witnesses’ credibility and
their ability to testify.

. By the nature of their jobs,
police officers look at evi-
“once from a “one-sided per-
‘\wwpective,” Edmondson said.
“A prosecutor has to look at it
in a much broader fashion,”
weighing the veracity of wit-
nesses and how they may fare
‘under defense attorneys’
questioning, he said.

Epstein’s attorney, Jack
Goldberger, said his client
committed no crimes.

“The reports and _ state-
ments in question refer to
false accusations that were
not charged becatise the Palm
Beach County state attorney
questioned the credibility of
the witnesses,” Goldberger

said. A county grand jury
“found the allegations wholly
unsubstantiated and not
credible,” and that’s why his
client was not charged with
sexual activity with minors,
he said.

Goldberger said Epstein
passed a lie detector test ad-
ministered by a reputable

‘ polygraph examiner in which

he said he did not know the

‘girls were minors. Also, a

search warrant served. on
Epstein’s home found no evi-
dence to corroborate the
girls allegations, Goldberger

According to police docu-
ments:

g@ A Palm Beach Commu-
nity College student said she
gave Epstein a massage in the
nude, then brought him six
girls, ages 14 to 16, for mas-
sage and sex-tinged sessions
at his home.

@A 27-year-old woman
who worked as. Epstein’s
personal assistant also facili-
tated the liaisons, phoning
the PBCC student to arrange
for girls when Epstein was
coming to town. And she es-
corted the girls upstairs when
they arrived, putting fresh
sheets on amassage table and
placing massage oils nearby.

@ Police took sworn
statements from five alleged
victims and 17 witnesses.
They contend that on three
occasions, Epstein had sex
with the girls. ~ .

The chief's letter

See the letter Paim Beach Police
Chief Michael Reiter wrote to
State Attomey Bary Krischer

on the Epstein case.

PaimBeachPost.com

A money manager for the
ultra-rich, Epstein was named
one of New York’s most eligi-
ble bachelors in 2003 by The
New York Post. He reportedly
hobnobs with the likes of
former President Clinton,
former Harvard University
President Lawrence Sum-
mers and Donald Trump, and
has lavish homes in Manhat-
tan, New Mexico and the Vir-

‘gin Islands.

He has contributed tens of
thousands of dollars to Dem-
ocratic Party candidates and
organizations, including Sen.
John Kerry’s presidential bid,
and the Senate campaigns of
Joe Lieberman, Hillary Clin-
ton, Christopher Dodd and

Charles Schumer.

Goldberger is one of five
attorneys Epstein has re-
tained since he became the

subject of an investigation,

Edmondson said. Among the
others: Alan Dershowitz, the
well-known Harvard law pro-
fessor and author, who is a
friend of Epstein. Dershowitz
could not be reached for
comment. _

Police said the woman
who enlisted young girls for

Epstein was Haley Robson,’

20, of Royal Palm Beach.
Robson has worked at an O1-
ive Garden restaurant in
Wellington and said she wasa
journalism major at Palm
Beach Community College
when she was questioned by
police last October. She has
an unlisted phone number
and could not be reached for
comment.

Robson said she met Ep-
stein when, at age 17, a friend
asked her if she would like to
make money giving him a
massage. She said she was
driven to his five-bedroom,
7%bath home on the Intra-
coastal Waterway, then es-
corted upstairs to a bedroom
with a massage table and oils.
Epstein and Robson were
both naked during the mas-
sage, she said, but when he
grabbed her buttocks, she
said she didn’t want to be
touched.

Epstein said he’d pay her
to bring him more girls — the
younger the better, Robson
told police. When she tried
once to bring a 23-year-old
woman to him, Epstein said
she was too old, Robson said.

Robson, who has not been
charged in the case, said she
eventually brought six girls to
Epstein who were paid $200
each time, Robson said. “I'm
like a Heidi Fleiss,” police
quoted her as saying. The
girls knew what to expect

_ when they were taken to Ep-

stein’s home, Robson said.

Give a massage — maybe na-
ked — and allow some
touching.

One 14-year-old girl Rob-
son.took to meet Epstein led
police to start the investiga-
tion of him in March 2005. A
relative of the girl called to say
she thought the child had re-
cently engaged in sex with a
Palm Beach man. The girl
then got into a fight with a
classmate who accused her of
being a prostitute, and she
couldn’t explain why she had
$300 in her purse.

The girl gave police this.

account of her meeting with
Epstein:

She accompanied Robson
and a second girl to Epstein’s
house on a Sunday in Febru-
ary 2005. Once there, a wom-
an she thought was Epstein’s
assistant told the girl to follow
her upstairs to a room featur-
ing amural of anaked woman,
several photographs of naked
women on a shelf, a hot pink
and green sofa and amassage
table.

She stripped to her bra:
and panties and gave him a .

massage.

Epstein gave the 14-year-
old $300 and she and the oth-
er girls left, she said. She said
Robson told her that Epstein
paid her $200 that day.

Other girls told similar
stories. In most accounts,
Epstein’s personal assistant at
the time, Sarah Kellen, now
27, escorted the girls to Ep-

stein’s bedroom.

Kellen, whose most re-
cent known address is in
North Carolina, has not been
charged in the case.

Palm Beach police often
conducted surveillance of
Epstein’s home, and at Palm
Beach International Airport
to see if his private jet was
there, so they would know
when he was in town. Police
also arranged repeatedly to .
receive his trash from Palm
Beach sanitation workers,
collecting papers with names
and phone numbers, sex toys
and female hygiene products.

. One note stated that a fe-
male could not come over at 7
p.m. because of soccer. An-
other said a girl had to work
Sunday — “Monday after
school?” And _ still another
note contained the work
hours of a girl, saying she
leaves school at 11:30 a.m.
and would come over the next
day at 10:30 a.m.

Only three months before
the police department probe
began, Epstein donated
$90,000 to the department for
the purchase of a firearms
simulator, said Jane Struder,
town finance director. The
purchase was never made.-
The money was returned to
Epstein on Monday, she said.

Staff writers Andrew Mora

and Tim O'Meilia and staff re-
searcher Angelica Cortez con-
tributed to this story.

@ lary_keller@pbpost.com

HOUSE_OVERSIGHT_018919
"
IMAGES-010-HOUSE_OVERSIGHT_029174.txt,"From: Robert Kuhn

Sent: 8/19/2018 3:53:57 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Kuhn - Radical Breakthroughs

Attachments: CNN - Kuhn - US-China Tariffs, Trade War - CNN Today - 8.2.2018.pdf; Untitled attachment 200384.htm

Importance: — High

Jeffrey:

How’s all in our crazy world?

I’m in NY until August 31 (then again, after Beijing, Sept. 25 — Oct. 14). If you are in town, meet?

When convenient, I’d like you to meet Peter Getzels, Closer To Truth producer/director (I’ve worked with Peter
for 12 years); he would very much like to meet you in person, describe the Radical Breakthroughs process in
detail, get your feedback. He would come up from DC. We can always do Skype, of course, but Peter would
appreciate to meet in person early in the process. Breakthroughs is a Big Project, big opportunity for impact.
All are truly excited.

Below are highlights of Breakthroughs progress.

Attached is latest CNN on trade war and below are links (caution: a few weeks old is ancient history in Trump
time).

The US trade war against China: The view from Beijing
https://news.cgtn.com/news/3d3d514f3551544f78457a6333566d54/share_p.html

How should China handle the trade war?
https://news.cgtn.com/news/3d3d774d3449544d79457a6333566d54/share_p.html

Love to discuss stuff.

Robert

Radical Breakthrough Development Work

* Research on each of the 13 episodes is ongoing and we are moving towards creating a short list of the top
contributors per episode (with some contributors in multiple episodes).

* We are aggregating the top contributors around 4 to 5 central locations, such as SF Bay Area, LA, Chicago,
Boston, New York, Santa Fe, London, Oxford, and Cambridge for the main shoots.

* We are creating a short list of locations for the secondary shoot - i.e. the more observational shoots on specific
labs and research facilities, such as the Music Lab at McGill, the Sleep Lab at Harvard.

* We are planning a recce in the autumn to assess locations and meet some of the key contributors.

* We've brought on a production manager / line producer as we develop detailed research, contributors,
locations, budgets.

HOUSE_OVERSIGHT_029174
"
TEXT-002-HOUSE_OVERSIGHT_033315.txt,"From: Kathy Ruemmler 
Sent: 7/17/2018 12:29:07 AM 
To: jeeyacation@gmail.com 
Importance: High 
Your boy should distance himself from Trump. Quick. 
HOUSE OVERSIGHT 033315 
"
IMAGES-010-HOUSE_OVERSIGHT_030425.txt,"Become our fan on Follow us on Listen to us on
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HOUSE_OVERSIGHT_030425
"
IMAGES-010-HOUSE_OVERSIGHT_030343.txt,"From: Martin G. Weinberg Po

Sent: 1/30/2015 8:20:19 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Media Enquiry - The Guardian - Re: Jeffrey Epstein

Importance: — High

' Privileged - Redacted |

From: jeffrey E.
Sent: Friday, January 30, 2015 2:04 PM

To: Martin G. Weinberg
Subject: Re: Fw: Fwd: Media Enquiry - The Guardian - Re: Jeffrey Epstein

From: David Pegg
Sent: Friday, January 30, 2015 12:00 PM
——EEEa

To:
Subject: Fwd: Media Enquiry - The Guardian - Re: Jeffrey Epstein

Dear Mr Weinberg,
| hope this email finds you well. | am a journalist at The Guardian newspaper in London.

We are preparing for publication an article in which we may mention Mr Jeffrey Epstein, who is your client.
We have sent Mr Epstein an email concerning this article and made a number of attempts to contact him, to
which he has not responded.

Please see the email in question below. Should Mr Epstein wish to respond, please ensure that we receive his
response by no later than 18:00 on Monday 2nd February 2015.

| would be grateful if you could acknowledge receipt of this email.

Yours faithfully,

David Pegg
The Guardian
Kings Place
90 York Way
London

N21 9GU

HOUSE_OVERSIGHT_030343
"
IMAGES-006-HOUSE_OVERSIGHT_022197.txt,"From: jeffrey E. <jeevacation@gmail.com>

Sent: Friday, January 9, 2015 9:03 PM
Subject: Re: we'll see
sexy cute

On Fri, Jan 9, 2015 at 4:50 PM, i wrote:

| know, cute,, just a joke about people's unique sensitivities. You must have heard many this week. How are You doing?

From: jeffrey E. <jeevacation mail.com>
To:

Sent: Friday, January 9, 2015 3:15 PM
Subject: Re: we'll see

it was only meant as a pun on | |

On Fri, Jan 9, 2015 at 3:26 PM, i wrote:

I'm a pilot...| prefer sex slave to copilot ;)

From: jeffrey E. <jeevacation@gmail.com>
To:

Dn
Sent: Friday, January 9, 2015 2:18 PM
Subject: Re: we'll see

Normally it's the copilots job to call out JJ, in this instance I'm calling her out)):

On Friday, January 9, 2015, iS wrote:

| know, | like where it's going..

From: jeffrey E. <jeevacation@gmail.com>
To:

Sent: Friday, January 9, 2015 1:59 PM
Subject: Re: we'll see

It was a first draft

On Friday, January 9, 2015 is rote:

Yes, let's do it. | like most of it. Would like less personal attacks and more reasons why allegations are ridiculous..

Love the fact checking story. Just a few days ago, | toyed with the idea of posting a photo of me doing a preflight inspection and saying | wished other
professions would have that requirement before putting innocent people's lives at risk.

1

HOUSE_OVERSIGHT_022197
"
IMAGES-001-HOUSE_OVERSIGHT_011983.txt,"lop players in the fashion and entertainment field requested that Mr. Brunel
function as iheir exclusive agent ond representative. Some of Ihese top former
and present professional supermodels in the fashion field include. Naomi
Campbell, Christy Turlington, Rebecca Romijn, Mila Jovanovich, inez Sasire,
Melanie Thierry, and Jerry Holl. Attached as EXHIBIT 2, please find prass articles
regarding ihe modek and actresses who were both discovered by and careers
wére lounched by the beneficiary, Jean Luc Brunel. Additionally. aHached as
EXHIBIT 3, please lind several articles regarding ihe prestigious repuiation of
Karin Models as formerly one of the world's leading agencies.

Most recently in October 2005. and after his reign with Karin Models, Mr.
Brunel launched the prestigious MC2 Model Managemeni wordwide with
offices in New York, Miami ond Tet Aviv. Mr. Brunel staried ihe high-profile MC2
Model Management in order to represent high fashion models in a boutique
agency setiing. MC2 Model Management is aready being lauded by fashion
insiders as “one of the hottest agencies in Norlh America” as well as
“prominenily positioned lo be one of the major players of the Zeros becouse of
its insider relationships wilh the most influential photographers cround.” We invite
you 10 visit www.mc2mm.com in order to view the high-caliber of models, MC2
represents Some of iis most recent successful bookings include liu Dan's
exclusive coniraci os the foce of the Fall 2007 Guess Campaign and Sammy
Jo's Cover story for Cosmopolitan Magazine. Aitached as EXHIBIT 4, please find
G list of all of MC2's clients, including several high-profite campaigns fealuing
some of MC2's fashion modiets. as well as several press clippings regarding this
prestigious and reputable modeling agency.

Jean Luc Brunel's entrepreneunal spirit is not only contained to the freld of
ars, beauty. and fashion. In 1970, as o result of his business insight, Mr. Brunei
founded and grew Jean Luc Relations Publique, which specialized in press and
promotions for tour operators and restouranls in Fronce. During his work through
Jean Luc Relations Publique. Mr. Brunet represenied vorious key clients and
collaborated on numerous prestigious events. Some of the presligious events
include: Air Tour and Dare Voyages. Jean Luc Relations Publique also promoted
and markeled La Tour D'Argen. a three-star restaurant owned by Claude Terrait
and. “The Go-Between"", a motion picture by George Losey. Ofher projects
taken on by Mr, Brurel through his public relations company wos his work os
product ageni for Jean Claude Killy, 1968 Winter Olympic Gold Medolisi skier, fo
promote Vail, Colorado in France tor tourism potential and ako directed all of
the promotion for Finland's Ministry of Tourism, tn 1975. Mr. Brunel iurther invesied
in the Food and Hospitality market by creating ond developing ""El Mono
Desnudo""- a legendory, high-end ber on the ibenan Peninsula. This bar was
known throughout the peninsulas extremely exclusive and attracied a
celebrity clieniele that included actress, Ursula Andress, and lhe Duchess
D'Alba. Alached as EXHIBIT 5, please find the beneficiary's, Jean Luc Brunel,

HOUSE_OVERSIGHT_011983
"
IMAGES-010-HOUSE_OVERSIGHT_029612.txt,"Please direct all scheduling inquiries to my office at: PO

Follow me on twitter @lhsummers
www.larrysummers.com

On Mar 16, 2019, at 4:16 PM, J <jeevacation@gmail.com> wrote:

Just send , happy for the time we spent together- have fun see you soon

On Sat, Mar 16, 2019 at 3:57 PM Larry Summers FG wrote:

I’m really mad at the deception.
Should I just wait for her to call?

This guy different. Maybe married or old or something. I sense from body language she is really attracted but
he is unsuitable as partner.

I can hardly be possessive under circumstances but schedule changing because she gets a better offer is not
acceptable.

If I say this she will rage back about times I changed plans because of family and work constraints.

She knew I was upset. I think significant chance she Il send note saying this may not be fair to you why
Not take time off or that she will say this.

In her way very tough.
But nothing for now.
R from my iPhone

Larry
Please direct all scheduling inquiries to my office at: Pe

Follow me on twitter @lhsummers
www.larrysummers.com

Sent from my iPhone
Please direct all scheduling inquiries to my office at:

Follow me on twitter @lhsummers
www.larrysummers.com

On Mar 16, 2019, at 3:19 PM, J <jeevacation@gmail.com> wrote:

shes smart. making you pay for past errors.. ignore the daddy im going to go out with the
motorcycle guy, . youreacted well.. annoyed shows caring. , no whining showed strentgh.

HOUSE_OVERSIGHT_029612
"
IMAGES-006-HOUSE_OVERSIGHT_020958.txt,"Bottom Line, as Data in This Presentation Indicate...

USA Inc.’s expenses far exceed revenue — and government
projections imply this trend will get worse, not better.

In addition - while not addressed in depth in this presentation - USA Inc.
(while still a global powerhouse), at the margin, is losing competitive
advantage to many other countries.

Instead of ignoring the problems, we simply ask the question...

How would a financial / turnaround expert look at USA Inc.’s financials,
business model, strategic plans, efficiency and aim to drive the
‘business’ to break-even (or a modest profit) over the next

5-10 years?

KP
www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 233

Matching Expenses & Revenue:

Imperatives & Constraints

There are many reasons to make changes
— USA Inc. is losing money, and forecasts imply it will continue to lose money.

— Net debt levels (62% in F2010) are expected to surpass 90% threshold* — above
which real GDP growth could slow by more than one percentage point — by 2021E.

Spending (primarily related to entitlement programs) is at unsustainable levels
based on USA Inc.'s ability to fund the spending (without increasing debt levels).

— Americans rank ‘reducing America’s debt’ as one of country’s top priorities,
according to a national survey by Peter G. Peterson Foundation in 11/09.

— We are now in the midst of a major generational baton-passing (from the Baby
Boomers to Generation X) which requires preparation for policy change.

— Foreigners own 46% (and rising) of USA Inc.’s debt, per Treasury Department —
Are they going to keep funding USA Inc.’s spending?

Note: *Carmen Reinhart and Kenneth Rogoff observed from 3,700 historical annual data points from 44 countries that the relationship between government debt
and real GDP growth is weak for debt/GDP ratios below a threshold of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average
growth falls considerably more. We note that while Reinhart and Rogoff’s observations are based on ‘gross debt’ data, in the U.S., debt held by the public is closer
to the European countries’ definition of government gross debt. For more information, see Reinhart and Rogoff, “Growth in a Time of Debt,” 1/10.
www.kpcb.com

USA Inc. | What Might a Turnaround Expert Consider? 234

HOUSE_OVERSIGHT_020958
"
IMAGES-011-HOUSE_OVERSIGHT_031414.txt,"the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_031414
"
IMAGES-004-HOUSE_OVERSIGHT_017905.txt,"In re Terrorist Attacks on September 11, 2001, 392 F.Supp.2d 539 (2005)
10 A.L.R. Fed. 2d 789

[4]

[5]

@ Matters considered in general

Article stating that Islamic aid organizations in
Afghanistan, Bosnia, Somalia, and Tajikistan
provided funds and cover to terrorists would not
be admitted to supplement record on motion to
dismiss in action, arising out of the September
11 terrorist attacks, alleging that two Saudi
officials involved with Islamic charities were
knowingly providing funding for terrorists;
plaintiffs failed to explain why they were only
able to obtain and translate the article on eve of
oral argument, article and its translation were
not authenticated, and article did not say
officials were put on notice regarding specific
charities or that they continued to contribute to
those charities with intent that donations would
assist terrorists.

Cases that cite this headnote

International Law
@ Extent and effect of immunity

Immunity under Foreign Sovereign Immunities
Act (FSIA) extends to agents of a foreign state
acting in their official capacities, inasmuch as a
suit against an individual acting in his official
capacity is the practical equivalent of a suit
against the sovereign directly. 28 U.S.C.A. §
1602 et seq.

1 Cases that cite this headnote

International Law
@ Evidence of immunity, and fact questions

Court is required to give great weight, in
determining whether foreign defendants are
entitled to immunity under the Foreign
Sovereign Immunities Act (FSIA), to any
extrinsic submissions made by the foreign
defendants regarding the scope of their official
responsibilities. 28 U.S.C.A. § 1602 et seq.

2 Cases that cite this headnote

WESTLAW

[6]

[7]

[8]

International Law
@ Corporations and other instrumentalities

Saudi High Commission (SHC) made prima
facie showing it was entitled to immunity, under
Foreign Sovereign Immunities Act (FSIA), in
action alleging it had provided funding for
terrorists; SHC was created by the Council of
Ministers of Kingdom of Saudi Arabia to
provide Kingdom’s aid to Bosnia and was
governed by a Saudi official, its employees were
Saudi civil servants, and it could be sued in the
Kingdom’s administrative court like other Saudi
government agencies, and SHC made no explicit
waiver of its sovereign immunity inasmuch as
any contrary representations by SHC were made
prior to the action. 28 U.S.C.A. § 1602 et seq.

Cases that cite this headnote

International Law
@ Extent and effect of immunity

To extent that complaint, in action alleging
support for terrorist organizations, alleged that
two Saudi officials provided such support
through actions undertaken in their government
positions, officials made prima facie showing of
entitlement to immunity under the Foreign
Sovereign Immunities Act (FSIA). 28 U.S.C.A.
§ 1602 et seq.

Cases that cite this headnote

International Law
Extent and effect of immunity

For jurisdiction over agents of a foreign
government to be proper under torts exception to
Foreign Sovereign Immunities Act (FSIA),
plaintiffs must show that defendants’ tortious
acts caused plaintiffs’ injuries and that
defendants’ actions were not discretionary, L.e.,
not grounded in their governments’ social,
economic, or political policies. 28 U.S.C.A. §
1605(a)(5).

HOUSE_OVERSIGHT_017905
"
IMAGES-007-HOUSE_OVERSIGHT_023818.txt,"72 Teaching Minds

designer of a course on how to manage a restaurant must focus on
the typical goal conflict situations that a new manager would have to
confront. The course designer must create a fictional situation where
it is necessary to convince an employee to do something or to find out
why something that was asked of an employee did not happen.

The magic word is scenario. Scenarios are like plays. Things happen
and you have to deal with them. A well-written scenario makes sure
that all of the processes that could be at all relevant to what you want
to teach, occur in this new context. In a reasonable education system,
students would have been practicing all of these processes all of their
lives. But we do not have a reasonable education system. We have
one based in subjects. So our cognitive processes are not rehearsed
over time in different contexts by constant practice. Instead we learn
knowledge about subjects.

To remedy this, a course designer (and a teacher if the teacher has
that freedom) must make sure that as many of the cognitive processes
as are relevant to a situation naturally occur within the scenario being
constructed to simulate what will happen in real life later on. Not ev-
ery situation requires diagnosis, but many do. Not every situation has
a goal conflict or forces one to make predictions or plans, but many
do. If what needs to be taught naturally lends itself to working on
any of the 12 cognitive processes, then the training being built must
concentrate on that. If there could be diagnosis, then there should be
training in diagnosis in that context, and that training must supersede
the garnering of facts.

Schools are tough to change. We are trying, but the subject-based
educators have a few hundred years head start. However, in designing
new training, it is quite possible to reorient subject-based courses and
turn them into cognitive process-based courses that are much more
satisfying to both the teacher and the student.

HOUSE_OVERSIGHT_023818
"
IMAGES-006-HOUSE_OVERSIGHT_020780.txt,"“The Labors of Hercules” — a drawing the artist did when

he was 13 years old

HOUSE_OVERSIGHT_020780
"
IMAGES-008-HOUSE_OVERSIGHT_024854.txt,"COWEN
COLLABORATIVE INSIGHTS

38

February 25, 2019

Beverages

Over the next two years, we believe that the beverage category can grow to a $900 mm
revenue opportunity. Our conviction in this category is underscored by our proprietary
consumer survey, which shows that almost 20% of CBD users consume beverages,
which we view as an encouraging sign. For 2019, we are forecasting a notable
acceleration in growth, with revenues more than doubling to $600 mm. Assuming
growth moderates in 2020 (to 50%), we believe revenues will approach the $1 bn mark.

Figure 57 Sales for Beverages Can Approach $1 BN Over the Next Two Years

$1,000 Total Beverage CBD Sales ($ inmm) $900

$800
$600

$600

$400

$200

SO

2018 2019 2020
MBottled Water MEnergy Drinks Beer

Source: Cowen and Company

Below we provide a sub-segment build by category, where we believe CBD water will
represent the lion’s share of sales at 65%. Energy drinks have been focused on health
and wellness and we believe that CBD-infused energy drinks will represent a niche
segment in a category that continues to see more competition. We expect CBD beer to
have a place in the category, though should admittedly be smaller in scale, given less
interest from a lack of THC.

Figure 58 CBD Water Should Have An Outsized Contribution On Category Sales

CBD Sales Mix by Sub-Category

Beer
15%

Energy Drinks
20%

Bottled Water
65%

Source: Cowen and Company

COWEN.COM

HOUSE_OVERSIGHT_024854
"
IMAGES-001-HOUSE_OVERSIGHT_012252.txt,"por ty

10

14

12

13

14

18

19

20

21

22

MP:

MP:

MP:

MP:

MP:

MP:

MP:

MP:

MP:

Nope, And...

Did you leave a phone number?

Yeah. Actually | did. Cause when | was leaving, he goes um, please leave your
phone number so can keep in touch with you because she doesn't have
your phone number. So I didn’t, | just gave him my cell phone number. | didn’t
give him my house number, | gave him my ceil phone number.

And how long ago was this?

Oh my gosh, | couldn't tell you the date but....it was about maybe, oh my gosh, a
month and a haif ago. | don’t really know..

In February?

Because we're in March right now.

Either ihe very beginning of February or the end of January. | couldn't tell you...
How jong after did you get into that fight with a:

Um, like a week, cause...

You got into a fight with [Jon the 9"".

Okay, so yes, it was about a week after....or before.

Okay. And who else besides Zack dic you tell what happened?

That's it.
Besides of course.
Zack and J

Do you think i has brought anybody else that you know of?
No, but she wanted me to bring my sister but that same day was going to her

Page 41 of 43

05158

HOUSE_OVERSIGHT_012252
"
IMAGES-008-HOUSE_OVERSIGHT_025592.txt,"From: Shaher

Sent: 5/3/2013 9:37:25 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re: Caroline Kennedy Selling 93 Acres on Martha’s Vineyard

Importance: — High
Such an estate dear cousin many would like to own ,, if at the price I may be willing
Sent from my iPad

On May 3, 2013, at 1:46, Jeffrey Epstein <jeevacation@gmail.com> wrote:

BORING

On Thu, May 2, 2013 at 4:59 PM, Shaher <j wrote:

Caroline Kennedy Selling 93 Acres on Martha’s Vineyard

Caroline Kennedy, the only surviving child of the late President John F. Kennedy, listed for sale about 90 acres
of land in Martha’s Vineyard, a resort island off the Massachusetts coast.

Two waterfront parcels in the town of Aquinnah are on the market -- a 39.5-acre (16-hectare) property
available for $20 million, and a 53.5-acre piece for $25 million, according to the listings for 6 Red Gate Farm
and 8 Red Gate Farm.

“An exclusive waterfront property with incredible views of Squibnocket Pond, with further views over
towering sand dunes to the Atlantic Ocean,” the listing for 6 Red Gate Farm reads. “Plenty of privacy with
varied topography and easy pond access. Yours to create a marvelous estate.”

The land is part of a 366-acre stretch that has been private since Jacqueline Kennedy Onassis bought it in 1978,
said John O’Connell, broker and owner of Vineyard Realty Group in Edgartown, Massachusetts.

The property is “a piece of the island that very few people have seen,” said O’Connell, who isn’t involved in
the sale.

Corporate records for Red Gate Farm LLC, which owns the land, lists Edwin A. Schlossberg as the person
responsible for the parcels. He is the husband of Caroline Kennedy, who is expected to be Obama’s choice as
the next U.S. ambassador to Japan.

To contact the reporter on this story: Prashant Gopal in Boston at [i

To contact the editor responsible for this story: Kara Wetzel at TTT

Find out more about Bloomberg for iPad: http://m.bloomberg.com/ipad/

Sent from my iPad

BS Df IS IC DIS Ik 24S BIS DIR 3S ig DIS IC 24C BIS DIS 34S 2g DIS Ik OIC BIS DIS SIC Dk DIC ig 24S BIS 2fS BIC 2k DIS ik 34S IS OIC SIS DC DIS ik 34K iS OIC 51S 2 OIC ik OIC Dg 2Ie 2s 2c 2s 2k 2fe 2 2k is
The information contained in this communication is

confidential, may be attorney-client privileged, may

constitute inside information, and is intended only for

the use of the addressee. It is the property of

HOUSE_OVERSIGHT_025592
"
IMAGES-009-HOUSE_OVERSIGHT_027914.txt,"During the exercise, Meir said nothing at all. I couldn’t help wondering
whether, despite our nearly daily exercises, and my nightly stock-taking, I'd
somehow missed an obvious detail in our planning. When we got back to the
sayeret base, Avraham was waiting for us. “Well?” he asked Meir. “They don’t
need me,” he said. “They know what they’re doing.” It was not just a source of
reassurance for me, but a huge relief for Avraham.

The team I’d inherited from Tubul included three gifted soldiers with
different backgrounds, and different skills. Motti Nagar was born in Cairo. He
was short but solidly built, smart, level-headed and almost always smiling. Kuti
Sharabi grew up in a Yemeni family in an impoverished neighborhood in Tel
Aviv. He had a self-deprecating sense of humor, a quick mind and sometimes
even quicker tongue, but an extraordinary ability to focus on the task at hand.
The third member was a kibbutznik. His name was Moshe Elimelech. We called
him Moshiko. Utterly self-contained, a man who spoke only when absolutely
necessary, he also brought two different qualities to the mission. One was going
to be indispensable: an almost squirrel-like ability to climb trees. Or telephone
poles. The other, of which I was a bit more leery, was a total, deeply irrational,
absence of fear.

Though none of us needed a further reminder of the weight being attached to
our mission, the night before we headed north, Avraham got a call from the
chief-of- staff's office. Tzvi Tzur wanted to see me the next morning for a
personal briefing. I tried to get Avraham to say no. I pointed out that if we
didn’t get going by ten o’clock at the latest, we’d risk throwing everything off
schedule. But “no” was not an option. After some further back-and-forth, it was
agreed that I would meet the commander of Israel’s armed forces at nine the
next morning at a gas station north of Tel Aviv and join him for the 20-minute
drive along the coastal road to a speaking engagement he had in Netanya.

I saw Avraham again before I set off. “We are beginning an extremely
critical 24 hours for our unit, the intelligence corps, in fact for the armed forces
as a whole,” he told me. “I don’t know what might happen. No one does. Just
remember two things. First, out there, in the field, you are the ramatkal” — the
chief of staff. He told me that only I and my team could judge and respond to
what we encountered once the operation started. “And second, this mission has
to be accomplished.”

I left see the real ramatkal. Before we began the drive to Netanya, he asked
me to unfold the map I'd brought with me and talk him through, step by step,
how we planned to get onto the Golan, plant the bugging device, and get back

66
HOUSE_OVERSIGHT_027914
"
IMAGES-008-HOUSE_OVERSIGHT_024698.txt,"A

>

KR
I

P

ELL
TAL Cannabis Investment Report | December 2017

w U.S. State Law

Of the 51 jurisdictions comprising the 50 U.S. states and the District of Columbia, 47 have enacted
at least one law that permits the manufacturing, distribution, dispensing or possession of cannabis or
concentrates. These laws fall into three general categories:

¢ 29 USS. states and the District of Columbia have enacted medical cannabis laws that permit
the production and possession of cannabis or concentrates for use in treating a broad range of
qualifying medical conditions,

° 19 U.S. states have enacted narrow CBD/limited laws that permit possession of small amounts
of low-THC/high-CBD cannabis concentrates for use in treating a few serious medical condi-
tions—in particular, severe forms of childhood epilepsy.

° 8 USS. states have enacted recreational laws that permit the commercial production and sale of
cannabis to adults for recreational and other uses.

Some states have passed more than one of these laws, and some state laws do not fall clearly into
any one of these categories. Florida and Delaware have both medical cannabis and CBD/limited laws.
Every state that has enacted a recreational law has also passed a medical cannabis law. A District of
Columbia law that permits adults to grow and consume cannabis is often cited as a recreational law;
however, we do not characterize it as such because it does not permit the commercial production and
sale of cannabis. The following map of the United States shows states with medical cannabis laws,
CBD /limited laws or recreational laws (a state with more than one of these laws is represented on the
map by its most permissive law).

62 © 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024698
"
IMAGES-004-HOUSE_OVERSIGHT_017911.txt,"In re Terrorist Attacks on September 11, 2001, 392 F.Supp.2d 539 (2005)
10 A.L.R. Fed. 2d 789

[38]

[39]

District Court would deny, without prejudice,
purported Islamic charitable trust’s motion to
dismiss, for failure to state a claim, complaints
against it in action alleging provision of support
for terrorists involved in September 11th attacks,
where Court had not yet determined whether it
had personal jurisdiction over the trust.

1 Cases that cite this headnote

War and National Emergency
@~Private Remedies

Allegation, that defendants were
co-conspirators, material sponsors, and/or aiders
and abettors of a network alleged to have
provided support for terrorist, was insufficient,
without more, to state a claim under
Antiterrorism Act (ATA), for purposes of action
alleging provision of support for terrorists
involved in September 11th attacks; allegations
failed to provide notice of the factual grounds on
which the claims were based. 18 U.S.C.A. §
2339(A).

Cases that cite this headnote

War and National Emergency
Private Remedies

Absent any allegation that organization knew
that two purported Islamic charities it allegedly
financed were terrorist cells, or whether and
how those cells contributed to agenda of terrorist
organization responsible for the September 11th
attacks, allegation that the organization provided
that financial support were insufficient to state a
claim under Antiterrorism Act (ATA), in action
alleging provision of support for terrorists
involved in those attacks. 18 U.S.C.A. §
2339(A).

Cases that cite this headnote

WESTLAW

[40]

[41]

[42]

Racketeer Influenced and Corrupt
Organizations
@ Association or participation

Absent any allegation that company had any role
in directing an enterprise, allegation that it
donated money to a group alleged to have later
laundered the money, and that it donated money
to unnamed entities who later forwarded it to
terrorist organization responsible for the
September 11th attacks, were insufficient to
state a claim under Racketeer Influenced and
Corrupt Organizations Act (RICO), in action
alleging provision of support for terrorists
involved in those attacks. 18 U.S.C.A. § 1961 et

seq.

Cases that cite this headnote

Racketeer Influenced and Corrupt
Organizations

@ Association or participation

War and National Emergency

@ Private Remedies

Complaint, alleging that individual defendants
aided and abetted, conspired with, and provided
material support and resources to terrorist
organization responsible for the September 11th
attacks and/or affiliated organizations, failed to
state claims for violations of Racketeer
Influenced and Corrupt Organizations Act
(RICO) or Antiterrorism Act (ATA), in action
alleging provision of support for terrorists
involved in those attacks; complaint did not
adequately provide defendants with notice as to
how they provided material support to terrorist
organization. 18 U.S.C.A. §§ 1961 et seq.,
2339(A).

2 Cases that cite this headnote

War and National Emergency
Private Remedies

Complaint alleging that defendant controlled
several bank accounts and transmitted money

HOUSE_OVERSIGHT_017911
"
IMAGES-011-HOUSE_OVERSIGHT_031400.txt,"agreement from more than 30 underage girls in Palm Beach who had been sexually abused by Epstein, a

multimillionaire New York hedge fund manager.

Marra stopped short of voiding the agreement, which granted Epstein and an untold number of accomplices
immunity from federal prosecution for sex trafficking crimes, provided Epstein plead guilty to minor charges in state
court. At the time of the plea deal, federal prosecutors had gathered enough evidence against Epstein to write a 53-

page federal indictment, court records show.

Play Video
DurationA

12:20
The story behind a Palm Beach sex offender’s remarkable deal

The story behind a Palm Beach sex offender’s remarkable deal

Emily Michot

An investigation by the Miami Herald, “Perversion of Justice,’’ found that after Acosta met privately with one of
Epstein’s lawyers, the government agreed to seal the plea agreement so that no one — not the victims, not even the
state court judge who sentenced Epstein — would know the full extent of his crimes. Epstein, now 66, was allowed
to plead guilty to prostitution charges and served 13 months in the Palm Beach County jail, where he was given
liberal work release, and allowed to travel to New York and his private island in the Caribbean during his
subsequent house arrest. He was released in 2009, and now divides his time between New York, Palm Beach and the
U.S. Virgin Islands.

The Herald interviewed four of Epstein’s victims, who were as young as 13 at the time they were abused by Epstein.
They said they felt betrayed by state and federal prosecutors, who treated them like prostitutes instead of victims.
Two of them sued the federal government in 2008 under the Crime Victims’ Rights Act, which grants crime victims

the right to be informed about plea deals and to confer with prosecutors.

Marra, in a 33-page opinion, said prosecutors not only intentionally violated the Crime Victims’ Rights Act, but they
misled the girls into believing that the FBI’s sex trafficking case against Epstein was ongoing — when, in fact,

prosecutors had secretly closed it after sealing the plea bargain from the public record.

Marra, noting that he reviewed affidavits, depositions and interrogatories, said “Epstein worked in concert with

others to obtain minors not only for his own sexual gratification, but also for the sexual gratification of others.’’

The victims’ attorneys — Edwards, Scarola and Paul Cassell — have asked the Justice Department to throw out

Epstein’s plea agreement and reopen the criminal investigation.

Edwards, who brought the victims’ rights case against the government, said transferring the case to another

jurisdiction is a prudent decision.

HOUSE_OVERSIGHT_031400
"
IMAGES-008-HOUSE_OVERSIGHT_024840.txt,"COWEN

COLLABORATIVE INSIGHTS

Figure 18 Interest Broad Based from Edibles...

February 25, 2019

Consumer Products Opportunities (Azer)

In 2018, the CBD market in the U.S. has been estimated to have generated revenues
ranging from ~S600 mm to as much as $2 bn. In our 2019 global cannabis outlook
report (here), we had believed the CBD purchases in the U.S. likely skewed to the lower-
end of that range. However, with new survey data from Cowen’s proprietary consumer
survey, we can see that among our ~2,500 respondents (18+) in January 2019 nearly 7%
reported using CBD as a supplement. Coupled with the diverse form factors reportedly
being used (including close to 20% for beverages, which was surprising to us), we are
now inclined to size the current market at closer to $2 bn.

Indeed, looking at Google search trends, we can see that interest looks to have climbed
steadily in 2016 and 2017, and accelerated meaningfully in 2018, which has continued
into 2019.

Figure 17 CBD Interest Has Been Increasing

U.S. Google Trends: CBD

100

80

60

40

20

0
tHe TTT T MH MNMNMHNOUWUUWUWUUWUUORRRRRRDDMDH HD WH HO
do dtd dtd dtd dd ddd ddd dd dd dd ddd dtd dd dod
ooooooooooocooococococococoeocec$ose
NANNANATNANANANANANANANANANANANANANANANANNANNN
~S SN NN Sh OE ON ORONO OR
WONTUODWAAMNNVUODWAOMNRWAONUAODOHAMTBAOON TT VO
ANNNNA DSSS DSBSA AAA ANNANN MSDS DSB AOA SA
SS NS BBB MN KR DDN RRB RN OS ORO BOON NTN BR RS
NTO oO oN addmnnaddm nn ad waon

Source: Google Trends and Cowen and Company

Encouragingly, interest has been rising consistently among different form factors,
ranging from supplements like CBD gummies, to topicals and oils. The rising interest and
popularity in this broad range of CBD offerings should support a diverse category and
multiple competitors that cater to a large base of consumers with different needs,
requiring various applications.

Figure 19 ...to Topicals... Figure 20 ...To Oil

100
80
60
40
20

5/1/2016

U.S. Google Trends: CBD

8/7/2016
11/13/2016

Gummies

2/19/2017
5/28/2017

9/3/2017
12/10/2017

3/18/2018
6/24/2018
9/30/2018

1/6/2019

U.S. Google Trends: CBD U.S. Google Trends: CBD Oil

100 Cream 100
80 80
60 60
40 40
20 20
) @)
wowowonrnrenernr~e wy nowon wovowonrenke MK MBM fon)
dodo di od cd aodiaodadoiadided dad dod ao dd bes bat gs ad
oo oo oo go 000 ©& oo ooooooogoso ©
NNNNNNNNNN NS NN NNNNNNNN SN
sim Me TS TR SMA TR TR OTR MRO. im Me TS Te SM TR TR OTR MRO.
ARR Manawmomoeawtdad wo AR MADAM OeATtT OS WO
~ s ca AN SB oI A NM 3 “~ S oA AN MB OI TDA NMS

Source: Google Trends and Cowen and Company

24

Source: Google Trends and Cowen and Company Source: Google Trends and Cowen and Company

COWEN.COM

HOUSE_OVERSIGHT_024840
"
IMAGES-006-HOUSE_OVERSIGHT_020794.txt,"HOUSE_OVERSIGHT_020794
"
IMAGES-001-HOUSE_OVERSIGHT_012246.txt,"oo™.

10
44
12

13

7
18
19
20
21
22

23

MP:

on
v

MP:

Okay. You Said that you straddled him.

Um hr.

What do you mean by that’?

When..he was on his stomach and | was giving him a massage, like | was, you
know where, like, on...on, like the butt? And then like, | was sitting on his butt
but a litte bit above his butt. And J, it was, | was butt naked and he was butt
naked and...

Okay.

..my butt was, my butt cheeks were on the top of his butt and the reat little of his

back.

MP:

MP:

Okay. Now, did he ask you to get on top of him?

Um hm.

Or did you do that on your own?

No, he’s like..because al first, | was giving him a massage like you know,
standing up. And he, then he’s like it would be fee! more comfortable if you got
on my back. Could you please do that....and then | did that. Like, | did, um, like,

Page 35 af 43

05152

HOUSE_OVERSIGHT_012246
"
IMAGES-008-HOUSE_OVERSIGHT_025586.txt,"Morgan Stanley | sesearcs NORTH AMERICA INSIGHT ~~

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HOUSE_OVERSIGHT_025586
"
IMAGES-009-HOUSE_OVERSIGHT_027900.txt,"first 25 miles will be familiar territory.” He left unspoken the obvious
postscript: the need to negotiate the final five to ten miles, through open desert,
and to find the right area, on our side of a border that wasn’t even marked.
“Can’t any of you,” he barked, “lead a convoy of a few dozen trucks?”

I’m not sure what possessed me. But I thought to myself: yes, I probably
can. I had been scouting and navigating in one way or another since those first
evenings with Yigal in the kibbutz orchards. I’d trained with Gadna Sayerim.
And while I’d never lived in the south, the farm settlement of Patish, where I’d
worked along with Yigal after getting kicked out of high school, was not far
from the route the conveys would have to take.

So I raised my hand.
“Can you lead a convoy?” he asked.
“Yes, sir,” I said. “Of course, Pll need a map. And a compass.”

“Why do you think you’re qualified?” he prodded. I’d been in Gadna
Sayerim, I said. | was good with maps. “Okay,” he replied, and he sent me,
along with two of the company’s junior officers, to the battalion commander.

Someone must have phoned ahead, because he was clearly expecting us.
Still, I could see the surprise in his eyes when he looked at me: only just
eighteen, but looking closer to 15, my uniform sagging on my slender frame. He
gazedat the officers, then back at me, then at the officers again, as if trying to
figure out whether he was about to approve something utterly crazy. But he had
little choice. Three convoys had to be dispatched within the next couple of
hours. So far, with me, he had a sum total of one guy to lead them. “Fine,” he
said, and waved us out.

The column consisted of eight huge, American-made six-wheelers, each
packed with ten tons of munitions and other supplies. I was in the lead truck.
The driver was a reservist in his mid-30s. So were most of the men in the rest of
the transport trucks, one driver and one soldier in each. A staff sergeant, in the
second vehicle, was in theoretical command. But, surreal though it felt, I was
actually in charge, since I was the only person who might, conceivably, get us
to the right place.

The platoon commander was right. The first part, on paved roads, was fairly
easy. But just before sunset, we reached open desert, the beginning of more than
three hours of picking and weaving, calibrating and recalibrating, our way
across a wide expanse on sand and occasional scrub bushes that, every mile or

52
HOUSE_OVERSIGHT_027900
"
IMAGES-010-HOUSE_OVERSIGHT_028518.txt,"Dex Torricke-Barton

Former head of executive communications for Facebook. Over the
last decade he has advised some of Silicon Valley's most
prominent leaders and companies. He was Mark Zuckerberg's
speechwriter from 2012-16, and was previously executive
speechwriter for Google's Eric Schmidt. He has also head of

communications for SpaceX, Elon Musk's rocket company.

Ed Vaizey
Conservative MP for Wantage and Didcot, who served as Minister
for Culture, Communications and Creative Industries from 2010 to

2016 under David Cameron.

HOUSE_OVERSIGHT_028518
"
IMAGES-010-HOUSE_OVERSIGHT_030357.txt,"Landon Thomas, Jr.
Financial Reporter
New York Times

http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.html

HOUSE_OVERSIGHT_030357
"
IMAGES-011-HOUSE_OVERSIGHT_032109.txt,"The new Dream Downtown has the best of both worlds. Housed in a Now Live
1960s building designed by Albert C. Ledner, it's situated at the crux of
Manhattan's art, design and nightlife scenes between Chelsea and the
Meatpacking District. With a hot rooftop bar, a Miami-meets-Ibiza pool
(with lounge chairs set in real sand) and modern rooms with classic
Downtown views, you can have your party and a good night's sleep, too.

Click here to visit sale

Romance by the Arc de Triomphe

Mon Hotel - Paris

HOUSE_OVERSIGHT_032109
"
IMAGES-006-HOUSE_OVERSIGHT_022183.txt,"° Do you feel you w
tice system?

¢ What effect did yo

® Do you believe th;

the women—esp

) been involved wit]

EPILOGUE | | e Are you at in tou
e Are you in touch v

* You've spent time

Trump. How woul

* Several people havi

Is that a fair chara

hen John Connolly, Tim Malloy, and I began work on e I’ve heard that Les
this book, I had hoped to interview Jeffrey Epstein ' of you from his ho:
myself: to look directly into the eyes of the man we'd | have you reconcile:
be writing about. Epstein declined to sit for an interview. Many j ¢ Did the thirteen mx
of his friends and associates did speak with us on the condition 4a any way?
| that they not be quoted. Several of them still liked Epstein and af e After your stay in
| made a point of telling us what a loyal friend he was— although, q a the company of ver
"" like Icarus, he seemed to have a fatal flaw. = * You were ordered |
If Epstein had agreed to an interview, these are the questions aN j as part of your sé
I would have asked him: a today?
a ¢ Do you regard yout
° You pleaded guilty to a single felony count of soliciting 4 7 if so, have you been
prostitution from a minor. Do you believe in your heart 3 ¢ What is your greate

that you were guilty? s 4 ¢ What do you look f
e In 2011 you told the New York Post, “I'm not a sexual — 4 * Last question. How
predator, I’m an ‘offender’ It’s the difference between a i

murderer and a person who steals a bagel.” Do you s

stand by that statement today? a

286

HOUSE_OVERSIGHT_022183
"
TEXT-002-HOUSE_OVERSIGHT_032779.txt,"From: Nicholas Ribis 
Sent: 7/9/2018 7:48:10 PM 
To: Jeffrey Epstein [JEEyacation@gmail.com] 
Subject: Fwd: RE: Barrack is not 
Importance: High 
For ur info 
https://www.forbes.com/sites/forbesdigitalcoyers/2018/07/09/disastrous-deal-staggers-trump-ally-thomas-
barrack/  
HOUSE OVERSIGHT 032779 
"
IMAGES-001-HOUSE_OVERSIGHT_011997.txt,"FIGQ/O

°S) SECREE OP et eg £38017

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CURA Rema LEP A Wt hunter GUITIG4
'S. of OPO Gt) Gt afee white fF) ey June 1? ame

+
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Department 6! Homelarid Security

United States Cithemship and tnmigratian Services
Vermont Service Center

30 Houghton Streat

Saint Albans, ¥T 05476

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fean-iue Didier Hecr!-Rene dune

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art Director rind feuent Cascais 6 Untied Cover

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Th wed, comeor ng ocr Pago OF Mop Tie Chow! wide Fa Dorey) are errs AN
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enfengomen feki ""Gqueyacd Thyl Wr Ase Toeclion os eer axdusee ager! ona
reorenn a +3

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9 “32° * @renhy Gea Ira cp ponety ""o hee to God tan eta fet to leseser in ihe Ureled
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thrice ey ek pm

“wr, ME i
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HOUSE_OVERSIGHT_011997
"
IMAGES-010-HOUSE_OVERSIGHT_029606.txt,"From: ee

Sent: 12/12/2018 7:50:12 PM
To: J [jeevacation@gmail.com]
Subject: Re: Michael Cohen Sentenced To 3 Years In Prison Following Plea That Implicated Trump -

https://www.npr.org/676040070

Importance: — High
©Galways!

On Wed, Dec 12, 2018 at 1:29 PM J <jeevacation@gmail.com> wrote:
Sexy

On Wed, Dec 12, 2018 at 1:44 PM wrote:

How are you sneaky?

On Wed, Dec 12, 2018 at 12:28 PM J <jeevacation@gmail.com> wrote:
Yup

On Wed, Dec 12, 2018 at 1:27 PM iS wrote:
Woowt}
Michael Cohen Sentenced To 3 Years In Prison Following Plea That Implicated Trump -

https://www.npr.org/676040070

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this

HOUSE_OVERSIGHT_029606
"
IMAGES-002-HOUSE_OVERSIGHT_012940.txt,"24 2 What Is Human-Like General Intelligence?

it, we will go through some more background regarding human-like intelligence (in the rest
of this chapter), philosophy of mind (in Chapter 3) and contemporary AGI architectures (in
Chapter4).

2.3 Further Characterizations of Humanlike Intelligence

We now present a few complementary approaches to characterizing the key aspects of human-
like intelligence, drawn from different perspectives in the psychology and AI literature. These
different approaches all overlap substantially, which is good, yet each gives a slightly different
slant.

2.3.1 Competencies Characterizing Human-like Intelligence

First we give a list of key competencies characterizing human level intelligence resulting from
the the AGI Roadmap Workshop held at the University of Knoxville in October 2008 ', which
was organized by Ben Goertzel and Itamar Arel. In this list, each broad competency area is
listed together with a number of specific competencies sub-areas within its scope:

Perception: vision, hearing, touch, proprioception, crossmodal

Actuation: physical skills, navigation, tool use

Memory: episodic, declarative, behavioral

Learning: imitation, reinforcement, interactive verbal instruction, written media, experi-
mentation

Reasoning: deductive, abductive, inductive, causal, physical, associational, categorization
Planning: strategic, tactical, physical, social

Attention: visual, social, behavioral

Motivation: subgoal creation, affect-based motivation, control of emotions

Emotion: expressing emotion, understanding emotion

Self: self-awareness, self-control, other-awareness

Social: empathy, appropriate social behavior, social communication, social inference, group
play, theory of mind

12. Communication: gestural, pictorial, verbal, language acquisition, cross-modal

13. Quantitative: counting, grounded arithmetic, comparison, measurement

14. Building/Creation: concept formation, verbal invention, physical construction, social
group formation

BwN

FHSS ONS oH

—_ao

Clearly this list is getting at the same things as the textbook headings given in Section 2.2,
but with a different emphasis due to its origin among AGI researchers rather than cognitive

1 See http: //www.ece.utk.edu/~itamar/AGI_Roadmap. html; participants included: Sam Adams, IBM
Research; Ben Goertzel, Novamente LLC; Itamar Arel, University of Tennessee; Joscha Bach, Institute of Cogni-
tive Science, University of Osnabruck, Germany; Robert Coop, University of Tennessee; Rod Furlan, Singularity
Institute; Matthias Scheutz, Indiana University; J. Storrs Hall, Foresight Institute; Alexei Samsonovich, George
Mason University; Matt Schlesinger, Southern Illinois University; John Sowa, Vivomind Intelligence, Inc.; Stuart
C. Shapiro, University at Buffalo

HOUSE_OVERSIGHT_012940
"
IMAGES-010-HOUSE_OVERSIGHT_029160.txt,"Sickle cell DISEASE by contrast refers to an individual with two sickle genes and this
is a serious condition since there is extensive sickling in a person who is otherwise
normal and lacks, for example, malaria. The survival rate of such individuals in
Jamaica (where 10% of the population have a sickle gene and 1% two copies) is 57
years, a good 10+ years below normal—nor is life pleasant or easy. This is the only
crudity in the same, the failure to ameliorate the negative effects of two copies.

It is correct as Peter says, that relatively recent human invasion by malaria
(~10,000 years ago) was probably in response to large population increases due to
agriculture and so on. This short time period has also prevented much selection to
ameliorate the sickle cell disease. It is not true, however, that “it and many other
crude adaptations” result from the “ability of the malarial parasites to outwit the
immune system”. First of all, other “adaptations” are no more crude than the sickle
trait. For example, the Duffy antigen, a surface protein on red blood cells, is designed
to spot Plasmodium and prevent entry. And the parasite does not “outwit the
immune system”. It is one of the very few Protozoa (or for that matter bacteria) that
live WITHIN cells and thus escape the immune system entirely (except see below).
Viruses live inside cells, precisely why we can’t use antibiotics against them.

And here is a joke for you. Bacteria, as we know, are rapidly evolving resistance to
almost all antibiotics but on many tips of the branches of the bacterial bush, species
are evolving that DEPEND on antibiotics for their food—stop treating them with
antibiotics and they die of hunger!

Plasmodium reproduces within its red blood cell and the offspring are released into
the blood as the cell bursts. Now the immune system responds strongly and all hell
breaks loose, fever and chills, bed-ridden and sometimes dead. When given a choice,
mosquitos preferentially bite sick people, perhaps because they are too weak to
swat the mosquitos away. Once in a mosquito, they do nothing to harm it other than
congregate in its mouth near the biting organ, the better to arrive new human.

HOUSE_OVERSIGHT_029160
"
IMAGES-002-HOUSE_OVERSIGHT_013486.txt,"Brad Garlinghouse — CEO, YouSendIt.

Julius Genachowski — Chairman, Federal Communications Commission (FCC).

Jared Genser — MD, Persesus Strategies. Founder, Freedom Now. International lawyer for Aung San Suu Kyi.
Jeff George — Global Head, Sandoz. Member of Exec Committee, Novartis.

Dave Goldberg — CEO, SurveyMonkey.

Tom Goldstein -- Partner, Goldstein & Howe. Fmr Partner and head of Supreme Court practice, Akin Gump. Has argued over 20 cases before Supreme
Court. CEO, SCOTUSblog.

Fabrice Grinda -- CEO, OLX. Fmr fndr and CEO, Zingy. Fmr CEO, Aucland.
Ash Gupta — Chief Risk Officer, American Express.

Richard Haass — President, Council on Foreign Relations. Fmr Director of Policy Planning, U.S. State Department. Fmr U.S. Special Envoy to Northern
Ireland.

Victor Halberstadt — Prof of Economics, Leiden University (Netherlands). Fmr President, International Institute of Public Finance. Mbr, Investment
Committee, ABP Pension Fund. Boards: RHJ Internationall.

Janet Hanson — CEO, 85Broads.
Hollie Moore Haynes — MD, Silver Lake Partners.

Bob Hertzberg -- Chairman, G24 Innovations. Partner, Mayer Brown Rowe & Maw. Fmr Speaker, California State Assembly (2000-2002). Fmr Regent,
University of California. Fmr Chm, Mayor Antonio Villaraigosa transition team. Board: Solar Integrated Technologies (Chm), California Historical Society,
MALDEF, Town Hall Los Angeles, Century Housing.

Jim Himes — U.S. Congressman (D-CT).

Auren Hoffman -- CEO of LiveRamp. Chm, Rapleaf. Curator, Dialog Retreat. Board: Retargeter.

Reid Hoffman — Chairman and founder, LinkedIn. Partner, Greylock. Boards: DoSomething, Kiva, Endeavor Global, Mozilla. Zynga.
Jacob Hsu - CEO, Symbio.

Daisuke Iwase — cofounder and COO, Lifenet Insurance (top life insurance company in Japan).

Christian Johansson -— Secretary of Department of Business and Economic Development (DBED), State of Maryland. Fmr CEO, Economic Alliance of
Greater Baltimore.

David Kamenetzky — Group Head, Mars & Co.
PV Kannan - CEO, 24/7 Customer.

Andy Karsner - CEO, Manifest Energy. Fmr U.S. Asst Sec of Energy for Energy Efficiency and Renewable Energy (2005-2009). Fmr Managing
Director, Enercorp. Boards: Applied Materials, Conservation International.

Garry Kasporov — Fmr World Chess Champion. Chm, United Civil Front of Russia.

Neal Katyal — Partner, Hogan Lovells. Fmr Acting Solicitor General for the United States (2010-2011). Professor of Law, Georgetown U. Lead counsel
for the plaintiff in Supreme Court case Hamdan vs. Rumsfeld.

Terry Kawaja — CEO, Luma Partners.

Juliette Kayyem - Foreign Affairs Columnist, Boston Globe. Lecturer in Public Policy, Harvard. Asst Sec. for Intergovernmental Affairs, U.S. Dept. of
Homeland Security.

Jeff Kearl — Chm, SkullCandy.
Peter Kellner -- MD, Richmond Management. Cofounder, Endeavor. Fmr partner, Vectis Group.
Chris Kelly -- Fmr Chief Privacy Officer and Head of Global Public Policy at Facebook . Fmr Chief Privacy Office, Excite@Home.

Pradeep Khosla — Chancellor, UC San Diego. Fmr Dean of College of Engineering, Carnegie Mellon. Boards: Quantpoint, BioMatricore, BitArmor,
Children’s Institute, IIT Foundation, Mellon-Pitt Corp.

Charlie Kim — CEO, NextJump.
David Kirkpatrick — Author, 7he Facebook Effect. Fmr head technology writer, FORTUNE.

Henry Kravis — Co-CEO of KKR. Chm, First Data. Boards: Claremont McKenna College, Metropolitan Museum of Art, Mount Sinai Medical Center,
Council on Foreign Relations, Columbia Business School, Rockefeller University, others. Fmr Chair, Partnership for New York City.

Marie-Josee Kravis — Boards: Publicis, LVMH. Boards: Memorial Sloan-Kettering Cancer Center, Robin Hood Foundation, Council on Foreign Relations,
Qatar Museum Authority. President, Museum of Modern Art board of directors. Fmr Board: Ford, IAC, CIBC.

Will Lansing — CEO, FICO (NYSE: FICO). Fmr CEO, InfoSpace. Fmr CEO, NBC Internet. Fmr COO, Prodigy Communications.
Renaud Laplanche — CEO, Lending Club.

Laura and Gary Lauder -- General Partners, Lauder Partners. Cofndrs, Socrates Society.

Jenna Lee — Anchor, Fox News. Host, Happening Now on Fox News.

Jorge Lemann — Fmr Owner, AmBev (largest brewery in Latin America) and now one of the largest shareholders in Anheuser-Busch InBev. Boards:
Lojas Americanas, Gillette, Swiss Re, Burger King.

Max Levchin — fmr CEO, Slide. Fmr co-founder, PayPal.

HOUSE_OVERSIGHT_013486
"
IMAGES-001-HOUSE_OVERSIGHT_011029.txt,"This observation helps clarify my hypothesis that job learning costs no time that
might otherwise have been spent earning pay. My deeper meaning is that invested
learning and maintenance learning are the same process costing the same time but
with different economic effect, much as with invested and maintenance

consumption.

Evidence that hourly if not yearly pay rises until retirement, or very near, would
refute Ben-Porath’s claim if human capital ended at retirement. But it continues

through retirement because imputed pay does.

Mill and a few economists before him acknowledged “productive” and
“unproductive” consumption. The productive kind was what I call maintenance and
invested consumption. Unproductive consumption meant any written invested for

higher pay later nor supporting survival pay now. That would give

pure consumption = maintenance consumption + unproductive consumption (5.8)

and

consumption = invested consumption + pure consumption
= invested consumption + maintenance consumption

+ unproductive consumption. (5.9)

Investment and maintenance contrast in human capital as in a firm. Investment is
valued only in the expectation of future maintenance. No maintenance later, no
value now. To count maintenance as new investment would count part of the old
investment twice. Where the accounting treatments differ is in disposition.
Maintenance in the firm is recovered in pay and products. | thought before that the
same was true of human capital. Thanks to the parable of the boss and her secretary,

I now I think it is exhausted in satisfying our taste for lineage survival.

Chapter 5 Bringing Human Capital In 1/13/16 10

HOUSE_OVERSIGHT_011029
"
IMAGES-002-HOUSE_OVERSIGHT_012798.txt,"58-62; Banerjee, K., Huebner, B, & Hauser, M.D. (2010). Intuitive Moral Judgments are Robust
across Variation in Gender, Education, Politics and Religion: A Large-Scale Web-Based Study.
Journal of Cognition and Culture, 10, 253-281; Henrich, J., Ensminger, J., McElreath, R., Barr,
A., Barrett, C., Bolyantz, A., Cardenas, J. C., Gurven, M., Gwako, E., Henrich, N., Lesorogol, C.,
Marlowe, F., Tracer, D., Ziker, J. (2010). Markets, religion, community size, and the evolution of
fairness and punishment. Science 327(5972), 1480-1484; Pyysiainen, I., & Hauser, M. (2010).
The origins of religion: evolved adaptation or by-product? Trends in Cognitive Sciences, 14(3):1-
6; Sosis, R. (2009). The adaptationist-byproduct debate on the evolution of religion: Five
misunderstandings of the adaptationist program. Journal of Cognition and Culture, 9(3), 315—
332.

* Promiscuity: Aldridge, Kristina. (2011). Patterns of differences in brain morphology in humans as
compared to extant apes. Journal of Human Evolution, 60(1), 94-105; Bruner, E., & Holloway, R.
L. (2010). A bivariate approach to the widening of the frontal lobes in the genus Homo. Journal
of Human Evolution, 58, 138-146; Ebisch, Sjoerd J H, Gallese, Vittorio, Willems, Roel M,
Mantini, Dante, Groen, Wouter B, Romani, Gian Luca, Bekkering, Harold. (2010). Altered
intrinsic functional connectivity of anterior and posterior insula regions in high-functioning
participants with autism spectrum disorder. Human Brain Mapping, 32(7), 1013-1028; Gaulin,
S.F., Fitzgerald, R.W., & Wartell, M.W. (1990). Sex differences in spatial ability and activity in
two vole species (Microtus ochrogaster and M. pennsylvanicus). (1990). Sex differences in
spatial ability and activity in two vole species (Microtus ochrogaster and M. pennsylvanicus).,
104(1), 88-93; Evolution of spatial cognition: sex-specific patterns of spatial behavior predict
hippocampal size. Jacobs, L.F., Gaulin, S.F., Sherry, D.F., & Hoffman, G-E. (1990). Evolution of
spatial cognition: sex-specific patterns of spatial behavior predict hippocampal size., 87(16),
6349-6352; Ioannides, Andreas A. (2007). Dynamic functional connectivity. Current Opinion in
Neurobiology, 17(2), 161-170; Jackson, Margaret C, Morgan, Helen M, Shapiro, Kimron L,
Mohr, Harald, & Linden, David E J. (2010). Strategic resource allocation in the human brain
supports cognitive coordination of object and spatial working memory. Human Brain Mapping,
32(8), 1330-1348; Meyer-Lindenberg, Andreas. (2009). Neural connectivity as an intermediate
phenotype: Brain networks under genetic control. Human Brain Mapping, 30(7), 1938-1946;
Peeters, R, Simone, L, Nelissen, K, Fabbri-Destro, M, Vanduffel, W, Rizzolatti, G, & Orban, G
A. (2009). The representation of tool use in humans and monkeys: common and uniquely human
features. Journal of Neuroscience, 29(37), 11523-11539; Preuss, Todd M, Caceres, Mario,
Oldham, Michael C, & Geschwind, Daniel H. (2004). Human brain evolution: insights from
microarrays. Nature reviews Genetics, 5(11), 850-860; Rilling, J. K., Barks, S., Parr, L. A.,
Preuss, T., Faber, T., Pagnoni, G., Votaw, J. (2007). A comparison of resting state brain activity
in humans and chimpanzees. Proceedings of the National Academy of Sciences, 104, 17146-
17151; Rilling, J. K., Glasser, M., Preuss, T., Max, X., Zhao, T., Hu, X., & Behrens, T. (2008).
The evolution of the arcuate fasciculus revealed with comparative DTI. Nature Neuroscience, 11,
426-428; Rozin, P. (1999) Pre-adaptation and the puzzles and properties of pleasure. In: Well/-
being: The foundations of hedonic psychology. Eds., D. Kahnemann, E. Diener & N. Schwarz.
Russell Sage; Hauser, M. (2009). Origin of mind. Scientific American.Stevens, Michael C,
Pearlson, Godfrey D, & Calhoun, Vince D. (2009). Changes in the interaction of resting-state
neural networks from adolescence to adulthood. Human Brain Mapping, 30(8), 2356-2366; van
den Heuvel, Martijn P, Mandl, René C W, Kahn, René S, & Hulshoff Pol, Hilleke E. (2009).
Functionally linked resting-state networks reflect the underlying structural connectivity
architecture of the human brain. Human Brain Mapping, 30(10), 3127-3141.

* Evil wasps, monogamous thinking, and Darwin’s worry: Haspel, G., & Libersat, F. (2004). Wasp
manipulates cockroach behavior by injecting venom cocktail into prey central nervous system.
Acta Biological Hungary, 55, 103-112.; Keasar, T., Shefdfer, N., Glusman, G., & Libersat, F.

Hauser Chapter 1. Nature’s secrets 52

HOUSE_OVERSIGHT_012798
"
TEXT-002-HOUSE_OVERSIGHT_033301.txt,"From: Barry Josephson 
Sent: 6/27/2016 3:20:09 PM 
To: Jeff Epstein [jeeyacation@gmail.com] 
Subject: FW: Trump Force One Vs. Air Force One 
Attachments: F8796710-315E-4988-9D76-F47859C86983[1].png 
Importance: High 
Funny! 
Best, 
Barry J 
Barry Josephson 
Josephson Entertainment 
1201 W. 5th St. 
Suite F-300 
Los Angeles, CA 90017 
TIMISON 
e rt 
From: Niall McCarthy I Statista 
Reply-To: Niall McCarthy I Statista 
Date: Monday, June 27, 2016 at 7:34 AM 
To: Barry Josephson 
Subject: Trump Force One Vs. Air Force One 
View this email in your browser here. 
Chart of the Day - Economy and Society 
June 27, 2016 
Dear Barry, 
When it comes to describing Donald Trump's private jet, the word 
""impressive"" would be an understatement. The presumptive Republican Party 
nominee bought the Boeing 757-200 from Microsoft co-founder Paul Allen 
and he spared no expense kitting it out. Dubbed ""Trump Force One,"" the 
luxurious jet is equipped with a shower, gold-plated seatbelt buckles and a 
52-inch flatscreen with a library of 1,000 movies. Built in 1991, the 757 is 
estimated to have cost approximately $100 million. If Trump reaches the 
White House in November, he'll have to exchange his personal jet for the 
presidential fleet, two highly modified Boeing 747-200Bs. The aircraft used by 
the president were built in 1986 and operate with the Air Force One callsign 
when the president is onboard. Will switching jets prove one of Trump's few 
regrets if he becomes president? 
Even though it cannot boast gold-plated accessories, Air Force One is a 
larger aircraft, seating 70 passengers in comfort compared to Trump Force 
..11141, 
HOUSE OVERSIGHT 033301 
One's 43. The presidential jet is also slightly faster with a range of about 
6,800 nautical miles compared to 4,100 for a 757. A VC-25A can also be 
refuelled in mid-air by a tanker, extending its range even further. 
The two presidential planes cost $325 million each and their cost of operation 
comes to $179,750 per hour. The hourly cost of operation for a standard 757 
is just over $8,000 by comparison, though the taxpayer will pick up the higher 
bill for Air Force One. All that bling certainly inflated the cost of Trump Force 
One but Air Force One is expensive because it's packed with equipment and 
facilities to keep the president and his or her entourage safe at all times. 
There is a hospital onboard, electronic countermeasures and heavy shielding 
to afford protection in the event of an electromagnetic pulse during a nuclear 
attack. All in all, if Trump does end up travelling regularly on Air Force One, 
he probably won't regret trading in his gold seatbelt buckle for the presidential 
suite on one of the most sophisticated airliners in the world. 
https://www.statista.com/chart/5110/trump-force-one-vs-air-force-one/ 
+++ Advertisement ++ 
HOUSE OVERSIGHT 033302 
6 Best Practices for Creating Effective Dashboards 
If you're not using interactive dashboards to make fast data-driven decisions, 
you're missing out! In this whitepaper you'll discover how to build those 
dashboards that will transform your data into relevant, actionable, insights. 
Download now. 
Our charts are intended for public use in online articles and social media. Please feel free to share 
them. If you do, we kindly ask you to refer to Statista using the URL given below the respective 
chart. 
Please feel free to contact me with any questions you may have. For data requests, please use 
the search function on the Statista website. 
Best regards, 
Niall McCarthy 
Statista creates infographics about your topic in your corporate design. For information about our 
infographic service and advertising in this newsletter please contact: 
Jan Frederik Ahrens 
Digital & Content Marketing 
Facebook • Twitter • Google+ 
This e-mail was sent to__________________________________________________ 
If you no longer wish to receive this newsletter, please unsubscribe here 
Statista, Inc., 55 Broad Street, 30th Floor, New York, NY 10004 / Privacy Policy 
HOUSE OVERSIGHT 033303 
"
IMAGES-010-HOUSE_OVERSIGHT_030431.txt,"From: Michael Wo!

Sent: 3/24/2018 1:37:40 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: My datebook

Importance: — High

Three hours with SB who believes DJT won’t last to the mid terms. Also saw Brad Karp who is super menchy
and offering much help on next book.

HOUSE_OVERSIGHT_030431
"
IMAGES-003-HOUSE_OVERSIGHT_014978.txt,"Notable trends and dislocations (US)

The Fed turns more hawkish, though vol remains subdued

Last week, unsurprisingly the Fed opted to hike benchmark rates another 25bps.
However, the market was more focused on the FOMC’s unexpectedly hawkish message,
which indicated that it is willing to normalize policy despite weaker-than-desired
inflation. Qur economists now think the Fed will announce balance sheet normalization
in September and will hike rates again in December. A more hawkish Fed could result in
higher real rates and a stronger USD, which ultimately should benefit our Growth to
Value rotation trade of long XLF calls versus short QQQ calls (see Chart 15). The S&P
500 was more-or-less flat week-over-week as it gained only 6bps. The tech selloff
continued, however, and the Nasdaq-100 dropped 105bps. Similarly, the Russell 2000
also dropped 105bps. Despite concerns on the Fed, the VIX fell 0.32 vol points to 10.38,

and SPX 1m ATM implied vol declined 0.3 vol points to 7.6%.

Chart 13: The Nasdaq has set a new record for consecutive days without
a 5% peak-to-trough drawdown

160 «2

136

140
120
100 Bo
80

60

40 Be

20 SSeS

0

16-Jun-17
14-Jul-86
27-Feb-97
21-Jun-71
22-Nov-93
20-Aug-15
19-Nov-91
3-Nov-16
29-Sep-80
29-Mar-94
5-Feb-99
4-Oct-95
8-Dec-80
14-Apr-87
3-Mar-80
14-Mar-00
22-Jul-99
21-Sep-78
19-Apr-99
28-Jan-00
15-Oct-99

Source: BofA Merrill Lynch Global Research. Data from 1-Feb-71 to 16-Jun-17. Drawdowns measured
from prior peaks and using close-to-close data.

Chart 14: On 16-Jun, the SPX had its 11™ consecutive session of moves
not exceeding 0.5% in either direction on a close-to-close basis. This is
the 4"" time this year that such a streak has surpassed 10 days

50 10
40 8
30 6
20 4
10 2
0 , 0

‘64 '65 52 17 ‘59 ‘62 '63 '67 '95 '51 ‘53 ‘66 ‘68 '72 '93 16
Max # of days without an up or down move > 0.5% (LHS)
m# times SPX has gone for 10 days w/o a 0.5% move (RHS)
Source: BofA Merrill Lynch Global Research, Bloomberg. Data from Jan-1928 to 16-Jun-2017.

On June 9, the Nasdaq dropped nearly 2% as investors unwound
crowded positions, resulting in a sudden selloff from a period of
relative calm. However, despite the volatility among tech names
during the first week of June, the Nasdaq (CCMP} has not seen a
5% drawdown from a prior peak (using closing data} in 150
days. This is the longest such streak in the Nasdaq’s history.

Prior to today, the longest periods of similar calm occurred
during July ’83 and July ’86, when the index did not record a 5%
drawdown from a peak in 136 and 135 days respectively.

Last week the S&P 500 recorded its 11"" session without a
move larger than 0.5% in either direction. As a result, 10d
realized vol stood at 3.31% as of 16-Jun.

This is already the fourth time this year that SPX has gone more
than 10 consecutive days without a move greater than +/- 0.5%.
This has historically happened only in ’64, ’65 and ’52. The
longest such stretch this year lasted 15 consecutive trading
sessions and ended on 16-May. For comparison, in ’64 SPX had
8 stretches without such a move with the longest stretch
spanning 43 days.

Bankof America
Merrill Lynch

Global Equity Volatility Insights | 20 June 2017 7

HOUSE_OVERSIGHT_014978
"
IMAGES-011-HOUSE_OVERSIGHT_031366.txt,"ee ——_

———. Content of the Convention aa)

We will not be concerned with the number/variety of event contents for the first year and focus our
efforts on bettering the quality of each content.

Developments Before the Event ( Announcements/PR )

Official Website Media Announcements

Exhibition of Energy Efficient Products ( ; Award Ceremony

«Venue: West Hall 1&2) «Venue: Special Stage in the West Hall Atrium )

Exhibition of renewable, alternative and sustainable NCT Energy Award and other Award’s Ceremony
energy developments and energy efficient products

The Award Ceremony will be the highlight of the Convention
Large scale exhibition with exhibition booths Presentations by Corporations
a
——— Public presentations by corporations that pass the first screening.
NOBEL CHARITABLE TRUST

Nobel Earth Environment Convention (tentative)

Keynote Lecture

«Venue: International Conference Room) «Venue: International Conference « Venue: Other areas)
Forum/Symposium Room and other conference rooms) Events for Children

: Experiment stages and interactive events
Keynote lecture by world class Forum/Symposium

for children ;
environmental authorities. Panel discussions on themes of renewable, Reception Party
Convey direction of NCT and the alternative and sustainable energies and Reception party for NCT members to
Convention earth environment exchanges ideas and information

i
HOUSE_OVERSIGHT_031366
"
IMAGES-010-HOUSE_OVERSIGHT_029148.txt,"communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for

HOUSE_OVERSIGHT_029148
"
IMAGES-002-HOUSE_OVERSIGHT_012968.txt,"52 3 A Patternist Philosophy of Mind

""unity of consciousness."" In essence the contents of the global workspace form a moving bubble
of attention or awareness.

In CogPrime, this moving bubble is achieved largely via economic attention network (ECAN)
equations [GPI~ 10] that propagate virtual currency between nodes and links representing el-
ements of memories, so that the attentional focus consists of the wealthiest nodes and links.
Figures 3.3 and 3.4 illustrate the existence and flow of attentional focus in OpenCog. On the
other hand, in Hameroff’s recent model of the brain [Ham10], the brain’s moving bubble of
attention is achieved through dendro-dendritic connections and the emergent dendritic web.

Specific Objects Abstract Concepts

Composite Actions, (Some corresponding to
Perception Action Complex Feelings named concepts, some not)
&
Feeling Nodes

pixel at (100,50) is
RED at 1:42:01,
Sept 15,2006

joint_53_actuator
is ON at 2:42:01,
Sept 15, 2006

Fig. 3.3: Graphical depiction of the momentary bubble of attention in the memory of an
OpenCog AI system. Circles and lines represent nodes and links in OpenCogPrimes mem-
ory, and stars denote those nodes with a high level of attention (represented in OpenCog by
the ShortTermImportance node variable) at the particular point in time.

In this perspective, self, free will and reflective consciousness are specific phenomena occur-
ring within the moving bubble of awareness. They are specific ways of experiencing awareness,
corresponding to certain abstract types of physical structures and dynamics, which we shall
endeavor to identify in detail in Appendix ??.

HOUSE_OVERSIGHT_012968
"
IMAGES-005-HOUSE_OVERSIGHT_018925.txt,"|
:
|

*£D-350 (Rev. 5-8-81)

Mount Clipping in Space Below)

Expert: Ignorance of age

isn't defense in sex cases

By LARRY KELLER

Palm Beach Post Staff Writer
_ Even if Palm Beach mon-
ey manager Jeffrey Epstein
didn’t know that girls who
police say gave him sexual
massages at his Intracoastal
home were under the legal
age, that alone wouldn’t have
exempted him from criminal
charges of sexual activity with
minors.

“Ignorance is not a valid
defense,” said Bob Dekle, a
legal skills professor who was
a Lake City prosecutor for
nearly 30 years, half of that
time specializing in sex
crimes against children.

“There is no knowledge
element as far as the age is
concerned,” Dekle said.

After an 11-month investi-
gation, Palm Beach .police
said there was probable cause
to charge Epstein, 53, with
unlawful sex acts with a minor

Epstein: Two
politicians have
returned dona-
tions since he
was charged
with soliciting
minors.

and lewd and lascivious mo-

lestation. They contend that

Epstein — friend of the rich
and famous and financial pa-
tron of Democratic Party or-
ganizations and candidates —
committed those acts with
five underage girls.

In the past week, New
York Attorney General and
gubernatorial candidate Eliot
Spitzer has returned about
$50,000 in campaign contri-
butions he received from Ep-
stein, and Mark Green, a
candidate to replace Spitzer in

See EPSTEIN, 5B >

3/E-MN — (08062- II

(Indicate page, name of
newspaper, city and state.)

1B / 5B /The Palm Beach Post
West Palm Beach, FL

Title: ExpertL Ignorance of age
isn't defense in sex cases

Character

or
Classification: 31E-MM-108062
Submitting Office: MM

HOUSE_OVERSIGHT_018925
"
IMAGES-005-HOUSE_OVERSIGHT_020262.txt,"110

CHAPTER FOURTEEN
Fugitive
“Tf I end up in chains in Guantanamo, I can live with that.”

m= —Edward Snowden, Hong Kong

During his interview with Poitras and Greenwald, Snowden said stoically “If I am arrested, I
am arrested.” His fatalistic words notwithstanding, Snowden had made plans to seek a haven
from American justice well before his meeting with journalists in Hong Kong. As early as May
24, 2013, Snowden had suggested to Gellman that he was making arrangements with a foreign
government. To that end, he asked Gellman to insert an encrypted key in Internet version of the
NSA expose that Snowden proposed he write for the Washington Post. He told him the purpose
of the encrypted key was to assist him with a foreign government. Snowden did not identify that
foreign government to Gellman so Gellman knew that Snowden wanted to “seek asylum”
overseas. He decided against assisting him. “I can’t help him evade U.S. jurisdiction—I don’t
want to, and I can’t,” he later explained. “It’s not my job. It’s not the relationship. Iam a
journalist.”

Although Gellman suspected that Iceland might be the foreign government in question,
Snowden, as it turned, had not ever contacted the consulate of Iceland while he was in Hong
Kong. “We had heard nothing from Snowden,” an Iceland government official told Vanity
Fair.

Snowden also did not contact the government of Ecuador in Hong Kong. In late June,
while Harrison was laying down false tracks for Snowden in Hong Kong, Assange in London
asked Fidel Narvaez, who was a friend of his and the legal attaché in the London embassy of
Ecuador, to issue a document that Snowden could use. But this document was not delivered to
Snowden in Hong Kong (and later it was invalidated by Ecuador.) If Snowden had really
planned to go to Ecuador from Moscow, it would require him first going to Cuba. Cuba did not
even require a U.S. passport (as, in 2013, U.S, citizens were not supposed to travel to Cuba.) He
did require a Cuban travel document, which he could have obtained from the Cuban consulate
any time during his month in Hong Kong. Yet he did not ever obtain it. Nor did he acquire a
visa to go to any other country in Latin America or elsewhere. So where was he headed?

Whatever foreign government with which Snowden was dealing earlier in May presumably did
not have an extradition treaty with the United States. Yet few other foreign governments, which
did not have active extradition treaties with the United States, could be directly reached by air.

HOUSE_OVERSIGHT_020262
"
IMAGES-001-HOUSE_OVERSIGHT_011001.txt,"We were paying them as homo habilis two million years ago. The cost went up, but
the value of innovation just as much, when homo erectus arrived a little later. Both
rose again with the emergence of Ancestral Eve 200,000 years ago. Adaptation is the
human specialty. Its what gets us through the day. Innovation is adaptation that
happens to become new norms. It started leaving a record of embodied growth
about 50,000 years ago. That doubled pace about 400 years ago. The costs of being
human are the same failure rates and learning curves whether the payoff in
adaptation/innovation means faster gain in good times or slower decline in bad
ones. We row ata Steady stroke, and gain against the shoreline when our new ideas

are particularly good ones and the current is right.

My idea, whether or not Mill’s, is that these costs might be about the same for
breakthroughs or meta-ideas or paradigm shifts as for modest upgrades, or even for
holding even in a world of daily surprises. Ideas trade in an inefficient market. Cost
is dissociated from value, and cause is desynchronized from effect, by the vagaries of

genius and the whim of circumstance.

Now the tougher puzzle. How can consumption keep up with capital even in
accelerations? That’s what Mill described, and that’s what happens. Can Achilles
catch the tortoise even when the tortoise speeds up? Put your money on Achilles.
Here it is Gunnar Myradal to the rescue. The apparent problem is that ex ante
depreciation investment is never enough in acceleration. But the charts and tables
show unanswerably that ex post depreciation investment is. We sow the first, but
reap the second. Plowback of depreciation investment is up to us. Growth is
whatever is added by genius or happenstance. The difference between market value
and cost is sometimes luck, which neither loses nor gains in the long run, but
sometimes imagination. Mother Nature and Gunnar Myrdal simultaneously say
“Shazam”, and convert new ideas into embodied or disembodied growth without

surcharge for the novelty.

Chapter 4 Mill’s Idea 1/11/16 10

HOUSE_OVERSIGHT_011001
"
IMAGES-010-HOUSE_OVERSIGHT_030419.txt,"communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030419
"
TEXT-002-HOUSE_OVERSIGHT_033329.txt,"From: LHS________________________________ 
Sent: 11/21/2018 10:29:49 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
CC: lhsoffice 
Subject: Fwd: China's dangerous test 
Importance: High 
See story on Chinese economists 
Sent from my iPad 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
Begin forwarded message: 
From: Bloomberg <noreply@mail.bloombergbusiness.com> 
Date: November 21, 2018 at 4:46:50 PM EST 
To: 
Subject: China's dangerous test 
Beijing plans to give its 22 million residents behavioral report cards as China moves toward higher-
intensity monitoring of its entire population. This strategy, similar to those of other Chinese cities, 
has been made easier by mobile technology and existing state restrictions on electronic 
anonymity. Getting an ""F"" on this test doesn't mean staying after school, though. The 
consequences can last a lifetime. —David E. Rove/la 
Here are today's top stories 
If there's one thing Americans do well, it's spend. The expectation this holiday shopping season 
is that they will burn through $1 trillion. But save a kind thought for one former king of Christmas: 
This is usually the most wonderful time of the year for gadget maker Apple. Not anymore. 
HOUSE OVERSIGHT 033329 
Apple's helpers aren't feeling joyous, either. Foxconn Technology Group, the biggest assembler 
of iPhones, aims to cut $2.9 billion from expenses in 2019 as it faces "" a very difficult and 
competitive year."" 
In an extraordinary statement for a U.S. Supreme Court chief justice, John Roberts, an 
appointee of Republican President George W. Bush, criticized the Republican currently in the 
White House for implying a federal judge appointed by Democratic President Barack Obama was 
partisan. U.S. District Judge Jon Tigar this week blocked Donald Trump's latest effort to restrict 
immigration. 
U.S. fossil fuel producers say they expect to fix distribution issues tied to the Permian Basin next 
year, adding three pipelines and as many as 2 million barrels of oil a day. For OPEC, it's a very 
bad dream come true. 
Depressed about that money you just lost in your 401(k)? Don't feel too terrible, as it could have 
been much worse—just ask these guys. Besides, the bleeding finally stopped today as most equity 
benchmarks rose. 
During his time Running Nissan, Carlos Ghosn earned a lot more than his Japanese peers, but 
not nearly as much as other global auto leaders. 
What is Joe Weisenthal thinking about? The Fed. The Bloomberg news director has bad tidings 
for those of you who think the market's recent calamitous behavior might slow planned rate hikes. 
What you'll need to know tomorrow 
• China warns economists on predictions that don't toe the Party's line. 
• Dolce & Gabbana faces China boycott for ""racist"" videos. 
• The EU extended a stiff-arm to the U.K. over Sunday Brexit talks. 
• General Electric could be a $41 billion problem for these banks. 
• Scared investors will force Trump to deal on trade, TIAA Bank says. 
• A Boeing 737 narrowly avoided disaster on takeoff from Belfast. 
• George Papadopoulos? Robert Mueller says lock 'em up. 
HOUSE OVERSIGHT 033330 
Sponsored Content by The Points Guy 
With perks like 5x points on airfare and hotels, up to $200 in annual Uber credits, access to a 
network of airport lounges and more this premium card is worth the annual fee. Get access to 
exclusive lounges with this card.  
What you'll want to read tonight 
How Do You Get a Millennial to Watch Golf? 
When AT&T acquired the rights to a pay-per-view duel between legends Tiger Woods and Phil 
Mickelson, it suddenly faced a challenge: How do you create a golf event that appeals to both 
retirement age-traditionalists and a more lucrative, younger demographic? Less whispers, more 
wagers. 
;1474? 
Have you started strategizing for 2019? We have. Don't miss the annual Bloomberg 
Businessweek special report, The Year Ahead, on the major trends, disruptions, breakthrough 
products, innovations and movements to watch in the coming year. Get Bloomberg All Access in 
time to receive this issue in print and much more. 
There's a new way to get the latest business news and analysis from Bloomberg. We're now on 
WhatsApp. Sign up here to get on-the-ground updates from reporters, breaking markets news, and 
more. 
Download the Bloomberg app: It's available for iOS and Android. 
4171, 
FOLLOW 
SEND TO A FRIEND 
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Unsubscribe I Bloomberg.com I Contact Us 
Bloomberg L.P. 731 Lexington, New York, NY, 10022 
HOUSE OVERSIGHT 033331 
"
TEXT-001-HOUSE_OVERSIGHT_030498.txt,"Date: Thursday, January 28 2010 10:40 AM 
Subject: Re: Re: 
From: Jeffrey Epstein <jeevacation©gmail.com> 
To: Boris Nikolic .<>; 
possibly 
On Thu, Jan 28, 2010 at 5:37 AM, Boris Nikolic < > wrote: 
You would get sick of yesterday harvard party. Average age was 60. Non stop boring talks. Run away so quickly!!! 
Will be in nyc the following week feb 5 to 8th. Are you there? 
boris 
Sent from my AT&T Windows Mobile phone. 
From: Jeffrey Epstein <jeevacation@gmail.com > 
Sent: Thursday, January 28, 2010 11:30 AM 
To: Boris Nikolic 
Subject: Re: Re: 
yes you do, you need to laugh and have fun, he is good at that. 
On Thu, Jan 28, 2010 at 5:27 AM, Boris Nikolic < > wrote: 
No problem. 
I am meeting him as he has some questions. I do not need anything from him. 
Also nathan wolf requested a mtg. Will meet him at some coctail later. Much better that way! 
How are you? 
Sent from my AT&T Windows Mobile phone. 
From: Jeffrey Epstein <jeevacation©qmail.com> 
Sent: Thursday, January 28, 2010 11:24 AM 
To: Boris Nikolic 
Subject: Re: 
you can tell andrew we are friends , 
On Thu, Jan 28, 2010 at 4:39 AM, Boris Nikolic < 
> wrote: 
HOUSE OVERSIGHT 030498 
Different kind of fun. 
It is fun for a short time but i am already getting sick of so many meetings! 
Met your friend bill clinton yesterday followed up with sarkozy. Later in day meeting your other friend prince andrew as he has 
some questions re microsoft. 
How are you? 
boris 
Sent from my AT&T Windows Mobile phone. 
From: Jeffrey Epstein <jeevacation@gmail.com > 
Sent: Thursday, January 28, 2010 7:47 AM 
To: Boris Nikolic < 
Subject: 
any fun? 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com , and 
destroy this communication and all copies thereof, 
including all attachments. 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com , and 
destroy this communication and all copies thereof, 
including all attachments. 
HOUSE OVERSIGHT 030499 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com , and 
destroy this communication and all copies thereof, 
including all attachments. 
- 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation(&,gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. 
HOUSE OVERSIGHT 030500 
"
IMAGES-004-HOUSE_OVERSIGHT_017087.txt,"Lee Kai-Fu
Lee Yong-Shin
Jim Leech

Fred van Leeuwen
Manfredi Lefebvre d'Ovidio
di Balsorano

Gottfried Leibbrandt

Jon Leibowitz

Achankeng Leke
Frédéric Lemoine
Frangois J. Lenglet
Steve J. Lennon

Sergio Leo
Mark Leonard

Stefano Lepri
Josh Lerner

Monique F. Leroux

Aharon Leshno-Yaar

Rich Lesser

Yves Leterme
Doris Leuthard

Lord Levene
Richard C. Levin
Alison Levine
Zohar Levkovitz
Maurice Lévy
Freda Lewis-Hall

Ursula von der Leyen
Li Daokui

Ping Li
Jason Li Yat-Sen

Bernard Liautaud
Zachary Lieberman
Michael Liebreich
Michel M. Liés

Ernst Ligteringen

Andrew Likierman
Lin Yu

Julio Linares
Donald Lindsay

Chairman and Chief Executive Officer
Chief Risk Officer
President and Chief Executive Officer

General Secretary

Deputy Chairman, European Cruise
Council, and Chairman

Head of Marketing

Chairman, Federal Trade
Commission, USA

Partner

Chairman of the Executive Board
Editorial Director

Managing Director, Corporate
Services Division

Columnist, Senior Reporter
Director

International Economic Editor

Jacob H. Schiff Professor of
Investment Banking

Chair of the Board, President and
Chief Executive Officer

Ambassador and Permanent
Representative of Israel to the United
Nations, Geneva

Chairman, North and South America

Prime Minister of Belgium

Federal Councillor of Environment,
Transport, Energy and
Communications of the Swiss
Confederation

Chairman

President

Mountaineer and President

Chief Executive Officer

Chairman and Chief Executive Officer
Executive Vice President, Chief
Medical Officer

Federal Minister of Labour and Social
Affairs of Germany

Director

Partner
Director

General Partner

Artist and Computer Programmer
Chief Executive

Chairman, Global Partnerships

Chief Executive

Dean
Chief Executive Officer

Chief Operating Officer
President and Chief Executive Officer

Innovation Works

Korea Investment
Corporation (KIC)

Ontario Teachers' Pension
Plan

Education International
Silversea Cruises Group

SWIFT SCRL

McKinsey & Company
Wendel

La Tribune

Eskom Holdings Limited

Valor Econémico
European Council on
Foreign Relations (ECFR)
La Stampa

Harvard Business School

Desjardins Group

The Boston Consulting
Group

Lloyd's

Yale University
DareDevil Strategies
Amobee

Publicis Groupe SA
Pfizer Inc.

Center for China in the
World Economy (CCWE)
Accel Partners

The George Institute for
Global Health

Balderton Capital
thesystemis

Bloomberg New Energy
Finance

Swiss Reinsurance
Company Ltd

Global Reporting Initiative
(GRI)

London Business School
NetQin Mobile Inc.

Telefonica SA

People's Republic of
China
Republic of Korea

Canada

Belgium
Monaco

Belgium

South Africa
France
France
South Africa

Brazil
United Kingdom

Italy
USA

Canada

USA

United Kingdom
USA

USA

USA

France

USA

People's Republic of
China

USA

Australia

United Kingdom
USA
United Kingdom

Switzerland
Netherlands

United Kingdom
People's Republic of

China
Spain

It is the policy of the World Economic Forum to safeguard the privacy of its Members and participants by preventing any misuse of

personal information provided to us for the purpose of facilitating contact and dialogue in furtherance of the Forum’s mission.

e —_ All participants in any World Economic Forum activity agree to treat any information related to the list of participants and
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e They agree that this information shall not be used for any other purpose, including solicitation for commercial endeavours.
In case of violation of this rule, the World Economic Forum reserves the right to take any action it deems appropriate and

necessary to protect the nature and the confidentiality of its activities.

World Economic Forum Annual Meeting 2011

HOUSE_OVERSIGHT_017087
"
IMAGES-003-HOUSE_OVERSIGHT_014950.txt,"MLPF&S or one of its affiliates is a regular issuer of traded financial instruments linked to securities that may have been recommended in this report. MLPF&S or one of its affiliates may, at any
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BofA Merrill Lynch, through business units other than BofA Merrill Lynch Global Research, may have issued and may in the future issue trading ideas or recommenda
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In the event that the recipient received this report pursuant to a contract between the recipient and MLPF&S for the provision of research services for a separate fee,
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HOUSE_OVERSIGHT_014950
"
IMAGES-003-HOUSE_OVERSIGHT_015496.txt,"BIOLOGY

MEDICINE

An Unlikely Cure Signals
New Hope for Cancer

How “exceptionalresponders’

‘arerevolutionizing treatment

for the deadly desease

BY KAT MCGOWAN

UST LIKE EVERY NEW drug the oncologists at
Memorial Sloan-Kettering Cancer Center test-
ed against bladder cancer in the last 20 years,
this one didn’t seem to be doing any good. For-
ty-four people in the study were given everolimus in a
last-ditch attempt to slow down or stop their advanced
cancer. When the researchers analyzed the data, they
could see that the drug wasn’t slowing or stopping
tumor growth. Everolimus seemed to be another bust.
Then there was patient number 45. She joined the
trial with advanced metastatic cancer. Tumors had
invaded deep into her abdomen, clouding her CT scan
with solid grey blotches. She was 73 years old. None of
the standard bladder cancer drugs were working for
her anymore; she had “failed treatment,” in the dismal
lingo of oncologists. She enrolled in the study only
because she happened to be a patient at Sloan-Ketter-
ingin January 2010. In April 2010, her cancer was gone.
This sort of happy surprise is not unheard of

in drug studies. Bodies are fluky, each with its own

idiosyncratic combination of genetic blueprints and

J

environmental inputs. So sometimes a patient will be
cured by a drug that is useless for everyone else. In
the past, these spectacular reactions were written off
as outlier responses that defied explanation—medical
mysteries. Doctors just shrugged their shoulders and
thanked their lucky stars that even though the study
tanked, they did manage to help one person.

But this time was different. Clinical oncologist
David Solit, director of developmental therapeutics
at Sloan-Kettering, saw a new opportunity to explain
what happened by sequencing the whole genome of
the woman’s cancer. Just five years ago, decoding and
analyzing all 3 billion bases of the DNA from a tumor
would’ve been absurdly time-consuming and expen-
sive. Now the sequencing takes as little as a few days.

Poring over the outlier patient’s genetic code, Solit
pinpointed two mutations that made her tumor sensi-
tive to this drug. He found that one of her mutations
shows up in about 8 to 10 percent of other bladder can-
cer patients, meaning that they too might be helped
by everolimus. His success has inspired a whole set of

ILLUSTRATION BY ELLEN WEINSTEIN

36

HOUSE_OVERSIGHT_015496
"
IMAGES-009-HOUSE_OVERSIGHT_027096.txt,"4 The Virgin Islands Daily News

VIRGIN ISLANDS

Saturday, February 23, 2019

White House ‘looking into’ Acosta’s role in illegal sex offender plea deal

By JOHN T. BENNETT
CQ-Roll Call

WASHINGTON — _ White
House press secretary Sarah Huck-
abee Sanders on Friday declined
to say whether President Donald
Trump still has confidence in La-
bor Secretary Alexander Acosta, a
day after a federal judge ruled the
Justice Department broke the law
while Acosta was a U.S. attorney.

A judge said Acosta — then the
U.S. attorney in Miami — signed
off on a plea deal with Jeffrey Ep-
stein, the Palm Beach billionaire
and serial sex abuser, without in-
forming victims about what they
were doing.

Epstein also owns the island
of Little St. James in the Virgin
Islands,

“My understanding is that it’s
a very complicated case, some-
thing we're certainly looking into,”
Sanders said.

The  Florida-
based U.S. Dis-
trict Judge Ken-
neth A. Marra
ruled Acosta and
other — officials
did not confer
with — Epstein’s
: victims about
Jeffrey Epstein the 2008 plea

agreement, But,
notably, she appeared to defend the
labor boss.

“But that they made the best
possible deal that they could have
gotten at that time,” she said. “But,
again, that’s something we're look-
ing into.”

A federal judge said U.S. Labor Secretary Alexander
Acosta — then the U.S. attorney in Miami — signed
off on a plea deal with Jeffrey Epstein, the Palm Beach
billionaire and serial sex abuser, without informing the
dozens of victims about what they were doing.
Epstein also owns the island of little St. James in the

Virgin Islands.

Asked if Trump still has confi-
dence in the latest member of his
Cabinet — which he frequently
praises as doing a collective solid
job — Sanders declined to say
the president does. “Again, that’s
something we're looking into,” the
spokeswoman said, “I'm not aware
of any changes.”

The judge said in his decision
Thursday that he had reviewed
evidence showing Epstein sexu-
ally abused more than 30 underage
girls at his Palm Beach mansion
and elsewhere.

The Crime Victims’ Rights Act
promises victims that the Justice
Department would make its “best

efforts” to protect a victim, the fil-
ing said. It allows victims the “rea-
sonable right” to confer with the
U.S. attorneys handling the case.

The deal reached between Acos-
ta and Epstein’s attorneys allowed
him to not be prosecuted in fed-
eral court, and instead sentenced
in state court. The immunity from
prosecution also extended to some
of Epstein’s co-conspirators.

Epstein pleaded guilty to two
prostitution charges and served 13
months in county jail, according
to the Miami Herald. The victims
were not told of the agreement or
sentencing until it was too late to
intervene,

The Department of Justice an-
nounced earlier this month it has
opened an investigation into the
handling of Epstein’s case.

HOUSE_OVERSIGHT_027096
"
IMAGES-003-HOUSE_OVERSIGHT_014788.txt,"Case 1:15-cv-07433-RWS Document 749 Filed 03/17/17 Page 1 of 9

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

wn eee ee eee xX
VIRGINIA L. GIUFFRE,

Plaintiff,
Vv.

15-cv-07433-RWS

GHISLAINE MAXWELL,

Defendant.
wen ee eee xX

Defendant’s Response in Opposition to
Plaintiff's Omnibus Motion in Limine

Laura A. Menninger

Jeffrey S. Pagliuca

Ty Gee

HADDON, MORGAN AND FOREMAN, P.C.
150 East 10"" Avenue

Denver, CO 80203

303.831.7364

HOUSE_OVERSIGHT_014788
"
IMAGES-006-HOUSE_OVERSIGHT_020964.txt,"Financial Experts Tend to ‘Assume What Can Go Wrong,

Will Go Wrong, and Usually Manage Expenses in that Way

e In projecting scenarios, financial experts would note that USA Inc.’s revenue and expenses are highly
correlated to economic changes — for example, a 0.1 percentage point slowdown in real GDP annual
growth rate could worsen USA Inc.’s F2011-F2020E budget deficit by $288B, or 5% owing to lower tax
revenue and higher welfare spending.

Key Revenue Spending Deficit
Economic a i What if... ($B/% of Base- ($B/% ofBase- ($B/% of Base-
Variables P Case) Case) Case)

G,
Real GDP oes EERIE Real GDP growth
a + S
YN Growth 4.4% F2012-14E ee ple ae Sete
Rate percen age poin (-1%) (--%) (-5%)
lower per year
2.4% F2015-20E ee
46%. ona-month T- interest rates ate 1
Interest bills remmaneeninetety +$94B +$1,214B -$1,120B
percentage point
Rates higher (+0.3%) (+3%) (-19%)
5.5% on 10-year T- Eel
notes
Inflation is 1
a + + =
Inflation 1.7% percentage point pene aa B oiler
higher (+7%) (+7%) (-12%)
KP Source: CBO, “The Budget and Economic Outlook: Fiscal Years 2010 to 2020,” 1/10.
(@)E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 245

Past Performance Does Not Guarantee Future Results —
Japan’s Economic Miracle From 1960 to 1990 Rapidly Deteriorated
Into the ‘Lost Decades’ of 1990’s & 2000’s

Japan Real GDP Annual Growth Rates, 1960 — 2010

Inflection Point —
Bursting of Real Estate
Bubble in 1991

Real GDP Annual Growth Rates (%)

2000

1960 1965 1970 1975 1980 1985 199 2005

0
I
I

Average Annual Real GDP Growth, Japan vs. USA, 1960’s — 2000’s
I
I

1960’s 1970’s 1980’s 1990’s 2000’s
Japan 10% 5% 4% ; 1.5% 0.7%
I
USA 4% 3% 3% I 4% 2%
KP Source: World Bank, IMF.
(@E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 246

HOUSE_OVERSIGHT_020964
"
IMAGES-011-HOUSE_OVERSIGHT_031428.txt,"From: J [jeevacation@gmail.com]

Sent: 3/5/2019 11:19:19 PM

To: a Weingarten, Reid ; Lilly Ann Sanchez
Ken Starr

Subject: Fwd: Herald

Mccain cee mtn mn mr me a mmm Ni a mmm A mm em A NR ea RE NR ER RT ere TN

---------- Forwarded message ---------
From: Lilly Sanchez

Date: Tue, Mar 5, 2019 at 6:08 PM
Subject: Herald

To: jeffrey E. <jeevacation@gmail.com>

Miami U.S. Attorney’s Office recuses itself from Jeffrey Epstein case

Play Video

DurationA 3:51
AG nominee Barr pledges to look into handling of Epstein case

Sen. Ben Sasse questioned attorney general nominee William Barr about the Jeffrey Epstein case on January 15,
2019, getting the nominee to commit to having the Department of Justice look into the handling of that case if
confirmed. C-SPAN Meta Viers

BY JULIE K. BROWN

jbrown@miamiherald.com

O00CO0O

Just days before a Friday deadline, the Justice Department has reassigned the Jeffrey Epstein victims’ rights
case to the U.S. Attorney’s Office in Atlanta, the attorneys representing Epstein’s victims’ attorneys said

Tuesday.

Miami federal prosecutors, in letter to attorneys for the victims’s lawyers on Monday, said they had recused

themselves from the case, according to Brad Edwards and Jack Scarola, representing Epstein’s victims.

HOUSE_OVERSIGHT_031428
"
IMAGES-004-HOUSE_OVERSIGHT_017939.txt,"Case 1:19-cv-03377 Document 1 Filed 04/16/19 Page 5 of 28

exposing how Epstein and his lawyers had corrupted the legal system to obtain the NPA and
referring to Dershowitz’s sexual abuse of Roberts. Dershowitz’s response on behalf of himself
and his client and co-conspirator Epstein has been a desperate barrage of false and increasingly
defamatory attacks on Roberts. The purpose and effect of these attacks has been to damage
Robert’s reputation and credibility and to try to intimidate her into silence.

14. Defendant’s central assertion is that Roberts has committed perjury, and that in
December 2014, Roberts and her attorneys hatched a scheme to falsely accuse Dershowitz of sex
trafficking as part of a criminal attempt to extort a settlement from another party.

15. As Defendant and Epstein well knew, Dershowitz’s assertion was false.
Dershowitz and Epstein knew that Dershowitz had in fact had sex with Plaintiff. Dershowitz and
Epstein also knew that Roberts’s assertions about Dershowitz were not part of any criminal
extortion plot. Indeed, Dershowitz and Epstein knew that Roberts had identified Dershowitz as a
sexual predator years before December 2014.

16. Defendant’s knowledge of the falsity of his attacks on Roberts have not, however,
limited the scope or scale of those attacks.

17. | Examples of Dershowitz’s knowingly false and malicious defamatory statements
made on behalf of himself and Epstein are:

(a) November 28, 2018: “the story was 100% flatly categorically made up” and
“Roberts and her attorneys fabricated the assertion in order to get money from other
powerful, wealthy people”. (Exhibit 1, p. 8).

(b) December 1, 2018: “I never met Roberts; I never had sex with her; she

simply made up the entire story for money”. (Exhibit 2).

HOUSE_OVERSIGHT_017939
"
IMAGES-007-HOUSE_OVERSIGHT_023824.txt,"78 Teaching Minds

Students who complete Algebra II are more than twice as
likely to graduate from college compared to students with less
mathematical preparation.'

The natural assumption here is that we must hurry up and teach
more Algebra II, of course. Except that obviously is not what is going
on; it just serves the interests of those who wrote the report to put it
that way. Here is another statement from that report:

Students who depended on their native intelligence learned less
than those who believed that success depended on how hard
they worked.

The claim is simply this: If you work harder, you get into college.
Now the question is: Why are the writers of this report claiming that
the thing that students have to work harder at is Algebra II?

It is easy enough to see why this panel decided that. At stake was a
$100 million federal budget request for Math Now, and the people who
were on the panel were people who would receive that funding. Uni-
versity professors issue reports asking for grant money to be approved
that state that the nation will not succeed without that grant money.
Vested interests are nothing new. I am sometimes amazed that no one
points this stuff out, however. It is well established that everyone must
know algebra. The fact that this is well established by those who make
money on the teaching of algebra is never brought up by the New York
Times, which published a lead article on the report, or by anyone else,
it seems.

My favorite part of the Times article was the following:

Dr. Faulkner, a former president of the University of Texas at
Austin, said the panel “buys the notion from cognitive science
that kids have to know the facts.”

Dr. Faulkner, let me point out, is a chemist, and I am pretty sure
he doesn’t really know much about cognitive science. But cognitive
science has been used of late to justify a great deal of what is wrong
in education. E.D. Hirsch, an English professor at the University of
Virginia, made a career of making lists of stuff every kid should know.
When cognitive scientists trashed this work as nonsense, he cited the

HOUSE_OVERSIGHT_023824
"
IMAGES-012-HOUSE_OVERSIGHT_033087.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 4/10/2018 2:36:47 PM
To: Michael Wolff
Subject: Re:

fe
On Tue, Apr 10, 2018 at 10:18 AM, Michael Wolff <q wrote:

chat? #?

On Tue, Apr 10, 2018 at 9:17 AM, jeffrey E. <jeevacation@gmail.com> wrote:
trump likely to hire dershowitz , no kidding

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033087
"
IMAGES-011-HOUSE_OVERSIGHT_030736.txt,"From: Steve Bannon

Sent: 8/20/2018 1:41:12 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Steve Bannon says GOP must rally behind Trump to survive | News & Observer

Importance: — High

https: //www. newsobserver .com/news/business/article216997195. html

HOUSE_OVERSIGHT_030736
"
IMAGES-007-HOUSE_OVERSIGHT_024193.txt,"Updated on 20 September 2012

Bilateral Requests sent
His Excellency the President (22 September — 29 September 2012)

Pakistan
Nepal
Bangladesh
Afghanistan
Bhutan

China
Japan

Germany

His Excellency Dr. Abdul Samad Abdulla, Minister of Foreign Affairs (22 September — 5 October
2012)

e United States
e
e = 6Turkey,
e =©Malaysia,
e UAE
Her Excellency Dr. Mariyam Shakeela, Minister of Environment and Energy
e =6Sri Lanka

e =©Clinton Foundation

Her Excellency Aishath Azima Shakoor, Attorney General (22 September — 29 September 2012)
(@elegates attending Rule of Law Meeting)

HOUSE_OVERSIGHT_024193
"
IMAGES-008-HOUSE_OVERSIGHT_024868.txt,"COWEN
COLLABORATIVE INSIGHTS

February 25, 2019

The below figure reflects the notable competition seen within vape as more companies
continue to enter the space. In addition to CBD only-focused companies, we are starting
to see crossover from adult-use / medical focused companies including Green Thumb
Industries and Curaleaf Hemp. Indeed, GTI recently announced the acquisition of Beboe,
which will offer a CBD vape pen with a focus on gaining distribution in high-end retail
stores. Curaleaf will offer their pen through its e-commerce platform and dispensaries.

Notably, crossover does not pertain solely to cannabis companies, as Turning Point
Brands recently announced a minority stake in CASH, a privately held CBD extraction
and production company. With a rapidly growing vapor infrastructure in place already
(from Vapor Beast, Vapor Shark and Vapor Supply), TPB has a number of avenues and
distribution points, both B2B and B2C, to introduce CBD vapor products to complement
its portfolio. As such, we look for new CBD product introductions from TPB over the
next year, with vapor as a logical entry point and key focus area.

Figure 98 Competition Expected to Heat Up Across Vapor

$0.40 $030
$0.30
$0.20
$0.10
$0.00

$027 so25 $024

Pure Kana
Pure Ratios
Canna Hemp
Vape Bright
Diamond CBD
Curaleaf Hemp

Super Premium
(> $0.23)

TERP@EX
Rea Cannaths
Terpenes

$0.20 S018 $017 So46 $015 $0.14 $014 $014 ¢942 $012

CBD Vape by Price Segment

90.11 $0.10 $0.10 $0.10 $0.09 soos $0.07 $0.04

Medix CBD
VeedVerks
Company
CBDistillery
Just CBD
Fresh Leaf
Jolly Green Oil

Hemp Bombs
Funky Farms

Pinnacle Hemp
Carolina Hemp

Pure Hemp Botanicals

Main
($0.10-$0.17)

VAPE PEN
eo VAPING

CBD OIL
;
i tr) 2e
=o

Neng —_

=
| cbdMD-

Source: Company Websites and Cowen and Company

Note: Reflects price per mg of CBD; For companies with multiple SKUs, we used a straight line average

52

COWEN.COM

HOUSE_OVERSIGHT_024868
"
IMAGES-009-HOUSE_OVERSIGHT_027928.txt,"work. The fog now enveloped us completely. I brought the team to a stop. I
stayed with the cart while the other four outlined a landing area with kerosene
flares in the hope that the pilot would see us. It was another five minutes when
we heard the thump of chopper blades. Though we couldn’t see more than a few
feet, I suddenly saw the outline of the landing gear and then the underbelly. But
the helicopter did not seem in control. It was drifting towards where I was
standing with the cart. It was just seconds away from hitting me when its nose
wrenched upward. It landed with a judder a dozen yards away. Later, I learned
the navigator had realized the craft was drifting and, just before impact, shouted
a warning to the pilot.

We piled in, secured the cart and took off. Within a minute, the murky
blanket of fog was below us. As we swooped back into Israel, I could see the
first pink of sunrise. By the time we touched down at Tel Nof air force base,
southeast of Tel Aviv, the command post in the Negev was receiving the first
intercepts.

A few days later, one of the sayeret soldiers gave me a first-hand insight into
the mood in the command post in the final stages of the operation. Avsha
Horan’s role had been to act as security guard for the top brass in Mount Keren.
He occasionally took a peek inside. He described to me the atmosphere when I
radioed my “milk is coming” message: solemn faces, hushed conversations
between Avraham and Meir Amit. And off to the side, the recently elevated
chief-of-staff, Rabin, chain-smoking and biting his nails. Finally, the audible
sighs of relief when the pilot radioed in with his final message from the
chopper: “Out of the fog. Heading home.”

With the rest of the team, I was invited to see Yitzhak Rabin ten days later.
We were being given a further tzalash. This was the first time I'd met him since
leaving officers’ school two years earlier, when, with a few terse words, the
then-deputy chief of staff congratulated me and several other cadets who
graduated with top honors. I had felt a bit overwhelmed in his presence. Now, I
was struck by how shy he seemed. He greeted each of us with a tentative
handshake, and seemed uncomfortable in making eye contact. Yet once he
began asking me about the Sinai operation itself, it was as if he was
transformed. He was hungry for every detail, anxious to know the way we’d had

80
HOUSE_OVERSIGHT_027928
"
IMAGES-010-HOUSE_OVERSIGHT_028530.txt,"overwhelming choice was Mr Obama, with 26 per cent, and Mr Gates behind on 12.

YouGov polled in Great Britain, France, Germany, Russia, the US, Australia, Pakistan, Indonesia, India, China, Egypt, Nigeria
and Brazil, representing over half of the world’s population and the most populated country on each continent, and spoke to
total of 13,895 people around the world. We used a mix of internet and mobile phone surveys. In most countries we achieved
representative samples but in some we were unable to achieve good representation of rural communities. Our survey asked
two open-ended questions, seeking write-in answers: who do you think is the most famous person in the world, and who do
you personally most admire?

Although we specified that only living people should be considered, many wanted to choose Nelson Mandela anyway, and had
we conducted the survey a month earlier he would have come top. In China there was significant support for Mao Zedong,
Zhou Enlai and Deng Xiaoping, with 14 per cent between them, and had those respondents considered only the living, Xi
Jinping would have scored even more highly.

Who’s Who

- Narendra Modi, an Indian politician, is the prime ministerial candidate of the BUP, the main opposition party.

- Amitabh Bachchan is a Bollywood superstar, who was the “angry young man’ of Hindi cinema.

- Abdul Kalam is an Indian scientist and was president of his country 2002-07.

- Anna Hazare held a series of hunger strikes in India in a successful campaign for anti-corruption laws.

- Arvind Kejriwal is the Chief Minister of Delhi, and worked alongside Hazare.

- Peng Liyuan, a Chinese folk singer, is the wife of President Xi Jingping.

- The philanthropist Abdul Sattar Edhi founded the Edhi Foundation, the largest welfare organisation in Pakistan.

- Joko ‘Jokowi’ Widodo, the governor of Jakarta, is a populist leader who may run in the 2014 Indonesian presidential election.

Stephan Shakespeare is CEO of YouGov.

HOUSE_OVERSIGHT_028530
"
IMAGES-001-HOUSE_OVERSIGHT_011767.txt,"/ BARAK / 10

touched as well by the fact that he had decided to “pass the torch” to me, someone
more in the mold, and closer to, Rabin. But I remained cautious, too. When I got
back home, Nava, knowing where I’d been, was still awake. I told her everything
that Shimon had said. I told her how extraordinary it felt to have the prospect, at
least, of leading Labor in opposition to Bibi, without the need to confront, or to
inflict personal hurt, on Shimon. But I added: “It seems a bit too good to be true.”

It was. The next morning, I joined other ministers and party officials with Peres
in his office. It was as if our conversation a few hours before had never happened.
Shimon set out his strategy for Labor going forward. And the first thing he said
was that the party needed to push back any leadership election beyond the
mandated 14 months.“It’s too early,” he said. He said we needed to focus on two
other strategic imperatives: to reconstruct the party, and consider the issue of
joining a possible “unity” government with Bibi.

Though Bibi went on to form his government without us, in alliance with a
number of smaller Orthodox parties, the idea of a Labor leadership change seemed
off the agenda, at least for now. In early August, I was standing next to Giora Einy
— the “political operative” Yitzhak had sent to help bring me into his government,
and a friend of Peres as well — when Shimon rose to speak to the dozens of well-
wishers at his 73""-birthday celebration in Tel Aviv. He was at his old, self-
confident best. With just a few thousand extra votes, we would have won the
election, he said. He was sure Bibi’s coalition — “a coalition against peace” —
would not survive for long. Giora, smiling, turned to me and said: “It doesn’t
sound like a farewell speech. It seems like he’s ready for the next round. He lost
twice to Begin. He lost once to Shamir. And only once to Bibi. He’s not going to
stop without giving it another go.”

Another of Peres’s old friends, a few weeks later, urged me to press him on the
need to step aside. I’d become closer to the French Jewish businessman Jean
Frydman during the election campaign. Since he had helped organize the fateful
peace rally at which Rabin was shot, he felt — wrongly, but powerfully — a sense of
responsibility for what had happened. He wanted to do everything possible to
ensure that Rabin’s political legacy, and Shimon’s, survived. He invited Nava and
me to visit him for a few days. When he asked about the birthday celebration, I
told him what Peres had said. “He’s making a huge mistake,” Jean told me. “After
every election, he goes through the same process. Always, he’s convinced that next
time he will win.” I said how I dreaded the prospect of being part of an effort to

296
HOUSE_OVERSIGHT_011767
"
TEXT-002-HOUSE_OVERSIGHT_032989.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 3/9/2017 3:22:44 PM 
To: Thomas Jr., Landon 
Subject: Re: Masa... 
tell him to ask nathan mhyrvold. . or bin salman 
On Thu, Mar 9, 2017 at 11:21 AM, Thomas Jr., Landon <___________________> wrote: 
Trying to get you in with Masa crowd. Some resistance though, due to all the headlines/controversy - 
- as you might expect. I tell them about your relationship with Saudis/Gates/Trump crowd, but still 
doubts. Working on it! 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.  
html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032989 
"
IMAGES-005-HOUSE_OVERSIGHT_019385.txt,"(Rev. 01-31-2003) 6

FEDERAL BUREAU OF INVESTIGATION

Precedence: ROUTINE Date: 09/14/2006
To: Miami
From: Miami

PB-2/West Palm Beach RA

p7C -2
pragtea by: [7s

Case ID #: Pending Inactive)

CPemectttre}

Pereine b7A -1
Perding) b7E -3

(Peneang}
Pencdine)
Title: Case update.

Synopsis: Delayed Investigation.

Details: For information of the file, investigation in
this matter has been delayed due to writer's assignment toa
kidnaping investigation fo. since 1/17/2006. b7E -3

+4 '

Lap -um IDES}

HOUSE_OVERSIGHT_019385
"
IMAGES-001-HOUSE_OVERSIGHT_010479.txt,"Leslie Wexner, photographed
at his home in New York City,
1989 (© Lynn Goldsmith)

oat

ee

: eed

(Lto R) Jeffrey Epstein, Ghislaine
Maxwell, and Tony Randall, who
presided over a November 1991
YIVO Institute event at the Plaza
Hotel to honor the late Robert
Maxwell (Marina Garnier)

_Jeffrey Epstein,
Ghislaine Maxwell, and
ttend a
reception at Mar-a-Lago,
1995. (Davidoff Studios)

Jeffrey Epstein, Donald po x)
Trump, and (newly signed
Trump Model)
attending the |,
Victoria's Secret Angels |
party at Laura Belle club §
in New York City on April jj
8, 1997 (Marina Garnier) :

HOUSE_OVERSIGHT_010479
"
IMAGES-011-HOUSE_OVERSIGHT_032121.txt,"Shorebreak - California

Shorebreak, a 157-room hotel on Huntington Beach, lives up to the Starting

SoCal lifestyle celebrated on breezy beach postcards. From your private Thursday 4/8 at
balcony, you'll gaze over a classic California coast pier, with the Pacific

stretching out behind it. Surf by day, then chow down on room-service 8pm BST
orecchiette pasta with seared diver scallops before heading outto@ =
beachside bonfire.

Click here to preview sale

Attention Adrenaline Junkies

Skydive Mount Everest

HOUSE_OVERSIGHT_032121
"
IMAGES-010-HOUSE_OVERSIGHT_028524.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]
Sent: 3/24/2014 7:06:50 AM

When I was 8 years old, I watched my trial-lawyer father play Horace Vandergelder in the Livingston, N.J.,
community-theater production of “Hello, Dolly!” He entered wearing an enormous marching-band bass drum
(the character is in a parade), and he roared to his sobbing niece, “Dammit! How am I supposed to play
“Yonkers My Yonkers’ with all that bellowing in my ears!” It was the most exciting thing I had ever seen.

I was a melancholic child. Worried, anxious. I never felt as if I belonged anywhere, as if I were a foreign
exchange student living among the other kids, who seemed predestined to love sports. Add to that alienation the
fact that my parents were going through a divorce, and I was truly treading water. But in that junior high school
auditorium, I felt like ’'d discovered a secret I didn’t even know was being whispered. There was a place where
I might belong: It was the Theater, and I was sold.

A few years later, at Stagedoor Manor in Loch Sheldrake, N.Y., I joined an intensive theater boot camp for kids
just like me. The second I stepped off the bus, I felt like baby Simba when he’s lifted into the air in “The Lion
King” and all the animals sing. Everyone was affectionate; everyone hugged; no was called “gay” for doing
anything that wasn’t masculine. (My insecurity about this had shamefully kept me from doing theater in
school.) It was utopia, and I never wanted to leave.

From left, Helene Yorke, Zach Braff and Lenny Wolpe in the musical “Bullets Over Broadway.” Credit Sara
Krulwich/The New York Times

It was there I met Michael Larsen, the musical director of the camp. He told me that I wasn’t just a camper
having fun, but that I also had talent. And he was tough — sometimes he’d scream at me — but I knew it was
because he thought I had a shot. (Michael was the first of many gay men instrumental in guiding me to where I
am now, which is why I try to speak on behalf of gay rights whenever I can. But I suppose that’s a different
essay.)

At 18, I was cast as Woody Allen and Diane Keaton’s son in the film “Manhattan Murder Mystery,” my first
movie role. And now, after studying film and theater at Northwestern University, playing J. D. on “Scrubs” on
TV for nine years and directing two films, I’m working with Woody Allen again. I’m typing these words in my
dressing room at the St. James Theater, where on April 10 Pll open in “Bullets Over Broadway,” a musical
adaptation of his hit film. I play David Shayne, a struggling writer in 1929 New York who agrees to cast a
mobster’s ditsy girlfriend in one of his plays in order to get it produced.

The St. James is where Yul Brynner opened in “The King and I” in 1951; where hits like “Oklahoma!,” “The
Pajama Game,” “Gypsy,” “The Who’s Tommy,” and “The Producers” played, and where, in 1964, by the most
surreal of coincidences, Carol Channing first descended an endless staircase in “Hello, Dolly!” I sit in Dressing
Room 201, where many of the great luminaries of the Broadway stage — Patti LuPone, Nathan Lane, Mandy
Patinkin — have paced waiting for the intercom to chime, “Places for Act I, please.” This is the sanctuary that a
little invisible boy in New Jersey dreamed he’d one day find.

Zach Braff in a 1988 production of ""Godspell"" at Stagedoor Manor. Credit Stagedoor Manor

It’s my first time on Broadway, but not my first time onstage. My first job straight out of college was in George
C. Wolfe’s production of “Macbeth” at the Public Theater, starring Alec Baldwin, Liev Schreiber, Angela
Bassett and Michael C. Hall, and I’ve since appeared Off Broadway in shows at the Delacorte and Second Stage
Theater.

HOUSE_OVERSIGHT_028524
"
IMAGES-001-HOUSE_OVERSIGHT_011773.txt,"/ BARAK / 16

talks with the Americans on the further West Bank redeployments meandered
ahead. We also discussed in detail how a unity government would work. We
agreed it would be presented, like the Shamir-Peres partnership in 1984, as a cross-
party response to an important challenge for the country: in this case, security and
the peace process. I would be both Defense Minister and “Vice-Prime Minister’,
with the understanding that Bibi and I would jointly discuss all major issues before
jointly agreeing to bring them to the full cabinet.

But in August, the talks ended, after news of our talks finally leaked. I
immediately phoned Ne’eman. I reminded him that at the outset, I’d said that
would mean the discussions were over. He did call me back later in the day to say
Bibi insisted that he’d had nothing to do with the leak. My guess was that the
source was my old comrade from the Chinese Farm, Yitzhik Mordechai, who had
presumably heard that Bibi was ready to make me Defense Minister as part of a
unity government. There was, of course, already a defense minister: Yitzhik.

Bibi’s idea to reopen efforts to get peace with Syria didn’t last either. Although
I’d learn of this only a few years later, he’d approved a visit to Damascus by the
American Jewish businessman Ronald Lauder to meet President Assad. The visit
made it clear to Bibi what successive Israeli leaders had learned: a deal might be
possible, but only if Israel was willing to commit in advance to pulling out of the
Golan. Assad told Lauder to come back to him with a detailed map setting out
Bibi’s view on delineating the Israeli-Syrian border under a peace agreement.
Though no one in the cabinet knew the initiative was underway, Bibi realized that
before sending back the map Assad wanted, he would need to tell the two senior
ministers directly affected: Arik Sharon, who had replaced David Levy as Foreign
Minister; and Yitzhik Mordechai. Both of them said no, with Yitzhik pointing out
that a signed map would inevitably become part of the negotiating record. It was a
step that, in future negotiations, could not be undone.

Bibi’s coalition was now creaking. The Syrian option was off. David Levy had
already jumped ship. Yitzhik, increasingly concerned about Bibi’s delay and drift
on Oslo II, seemed to be thinking of leaving as well. Right wing ministers and
Knesset members were no happier: they opposed even the slightest prospect of
movement on Oslo. In October, Bibi did finally try to seize the initiative. He
wrapping up the redeployment details in a summit with Arafat and Clinton and
Arafat in Wye River. But as soon as he got back home, he started backtracking,
rather than risk facing down his right-wing critics in the cabinet. Implementation of

302
HOUSE_OVERSIGHT_011773
"
IMAGES-011-HOUSE_OVERSIGHT_032135.txt,"Located 20 minutes north of Miami Beach in the heart of Aventura, Starting

Fairmont Turnberry Isle Resort & Club mixes country club charm with Wednesday 27/7
the sleek styling of a boutique hotel. The 392-room property is home to

two Raymond Floyd-designed golf courses and the Laguna Pool, which at 8pm BST
features a water slide, a lazy river and cabanas outfitted with TVs and aS =
refrigerators (this is Miami, after all). With its family-friendly vibe,
Turnberry Isle falls somewhere between Grossinger's in the Catskills (at
its legendary height) and a posh island resort.

Click here to preview sale

French Service Meets American History

Sofitel - Philadelphia

HOUSE_OVERSIGHT_032135
"
IMAGES-005-HOUSE_OVERSIGHT_019391.txt,"(Rev'O1 -31-2003) * é

FEDERAL BUREAU OF INVESTIGATION

Precedence: ROUTINE Date: 10/17/2006

To: Miami Attn: SA
PB2 / PBCRA

From: New York
Squad C-20

b3 -1

b7C -1, -2
Case ID #: 31H-MM-108062 (ending) —ZFS
Title: JEFFREY EPSTEIN;

WSTA- CHILD PROSTITUTION

Synopsis: Lead _ covered for captioned investigation; Grand Jur

Reference: 31E-MM-108062 Serial 13

Enclosure(s): Enclosed for Miami is the server copy of the
referenced Grand Jury subpoena issued by the United States
District Court, Southern District of Florida on 10/06/2006 and
servedc™—~——CCd@n. «10/16/2006.

Details: On 10/16/2006, SA[___]received from SAL___| via

Pederal Express delivery service, the referenced Grand Jur
subpoena. On that date

b3 -2

b3 -2
b6é -2, -5
bh7C -2, -5

b3 -2
b6 -2, -5.
b7¢ -2, -5

soose-10ll

SlE- MU-/0F Dba-AS-

HOUSE_OVERSIGHT_019391
"
TEXT-002-HOUSE_OVERSIGHT_032745.txt,"From: Weingarten, Reid 
Sent: 3/24/2018 9:14:48 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
How about Monday morning? Easier for me...how did today go? 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Saturday, March 24, 2018 11:48 AM 
To: Weingarten, Reid 
Subject: Re: 
i have to leave at 830 for the airpot thats why sorry 
On Sat, Mar 24, 2018 at 11:33 AM, Weingarten, Reid wrote: 
Jesus....see you at 730...will be eager to hear about your day today.... 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Saturday, March 24, 2018 8:25 AM 
To: Weingarten, Reid 
Subject: Re: 
either 73 am or 10 pm 
On Sat, Mar 24, 2018 at 11:19 AM, Weingarten, Reid wrote: 
Flying in from vancouver now...about to board...what works best for you tomorrow? 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Saturday, March 24, 2018 8:15 AM 
To: Weingarten, Reid 
Subject: Re: 
Tonight or tomnight 
On Sat, Mar 24, 2018 at 11:10 AM Weingarten, Reid wrote: 
Later possible? Need my beauty sleep 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Saturday, March 24, 2018 8:06 AM 
To: Weingarten, Reid 
Subject: Re: 
yes 730? 
HOUSE OVERSIGHT 032745 
On Sat, Mar 24, 2018 at 11:02 AM, Weingarten, Reid 
Am I seeing you tomorrow morning? 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Saturday, March 24, 2018 3:39 AM 
To: Weingarten, Reid 
Subject: 
wrote: 
https://www.thedailybeast.com/how-close-is-donald-trump-to-a-psychiatric-breakdown?ref=home 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
HOUSE OVERSIGHT 032746 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032747 
"
IMAGES-006-HOUSE_OVERSIGHT_020970.txt,"Restructure Social Security: Mathematical Illustration #1 —

Increase Retirement Age From 67 to 73

Increase Retirement Age

Full Retirement Age (Years)

Current Proposed

Note: For mathematical illustrations, we simply calculate how big a revenue increase AND / OR expense decrease each major entitlement program needs to

reach financial break-even. These caiculations are merely mechanical illustrations and are not meant to portray realistic solutions.

Note: Increase full retirement age to 73 will reduce average life expectancy at retirement to the same level as when Social Security was introduced in the

KP late 1930s. Source: Melissa M. Favreault and Richard W. Johnson, The Urban Institute, “Raising Social Security’s Retirement Age,” 7/10.
www.kpcb.com

USA Inc. | What Might a Turnaround Expert Consider? 257

Restructure Social Security: Mathematical Illustration #2 —
Reduce Social Security Expenses (Benefits) By 12%

Reduce Social Security Benefits by 12%, Immediately & Permanently

. $14,000 ------------ $13,010
®. -12%
2 $12,000
a
£
e
& $10,000
2.
5 2
2 > $8,000
a
8 ie
8 & $6,000
2
Ey
e $4,000
<q
S
g $2,000
co)
>
&

$0

2009 2010&Beyond

Note: For mathematical illustrations, we simply calculate how big a revenue increase AND / OR expense decrease each major entitlement program
needs to reach financial break-even. These calculations are merely mechanical illustrations and are not meant to portray realistic solutions.
Source: Social Security Administration forecast in “The 2010 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance

KP and Federal Disability Insurance Trust Funds,” 8/10.
(@ www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 258

HOUSE_OVERSIGHT_020970
"
IMAGES-007-HOUSE_OVERSIGHT_023830.txt,"&4 Teaching Minds

Martin County School District won't settle for B

July 27, 2007

STUART—The Martin County School District was just short
of earning a perfect report card from the state in late June.

But the district, which earned 18 A’s and one B, has a chance
to earn straight A’s. School officials are appealing J.D. Parker
School of Science, Math & Technology’s B grade. The Stuart
elementary school had enough points to be considered an “A”
school, but because the lowest 25 percent of the school’s students
didn’t make learning gains, the state dropped the grade to a B.

Martin had the second-highest percentage of A schools
among the state’s 67 counties. Gilchrist County had the highest
percentage of A’s, though the county in northeastern Florida only
has four schools.

The district is also filing an appeal for Warfield Elementary
in Indiantown. The school received an A, but did not make
adequate yearly progress under the federal No Child Left Behind
Act, state data shows.

The result of all this is that teachers are now being “held accountable”
for their teaching, which is another way of saying, Get those test scores
up or else.

The following is from an article on the front page of the New York
Times (December 23, 2007):

Mr. Obama, for instance, in a speech last month in New
Hampshire denounced the law (NCLB) as “demoralizing our
teachers.” But he also said it was right to hold all children to
high standards. “The goals of this law were the right ones,” he
said.

When Mtr. Edwards released an education plan earlier this
year, he said the No Child law needed a “total overhaul.” But he
said he would continue the law’s emphasis on accountability.

And at the elementary school in Waterloo, Mrs. Clinton said
she would “do everything I can as senator, but if we don’t get it
done, then as president, to end the unfunded mandate known as
No Child Left Behind.”

HOUSE_OVERSIGHT_023830
"
IMAGES-011-HOUSE_OVERSIGHT_030722.txt,"From: Kathy Ruemm|er

Sent: 7/8/2018 12:53:09 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Het hele interview met Steve Bannon | Nieuwsuur

Importance: — High

This drives me f*ing crazy.

Simple question for your boy: Did Donald Trump actively promote the theory that Barak Obama was not born

in the US and was therefore not a legitimate President?

Answer: Yes.

He should not defend that shit. He can defend populist/nationalism all he wants, but when he bullies people

defending obvious Trump lies, he loses credibility.

On Jul 7, 2018, at 10:57 AM, jeffrey E. <jeevacation@gmail.com> wrote:

Fun

---------- Forwarded message ---------

From: Steve Bannon qq

Date: Sat, Jul 7, 2018 at 1:21 PM

Subject: Het hele interview met Steve Bannon | Nieuwsuur
To: jeffrey E. <jeevacation@gmail.com>

https://nos.nl/nieuwsuur/video/2240261 -het-hele-interview-met-steve-bannon.html

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030722
"
IMAGES-012-HOUSE_OVERSIGHT_033093.txt,"communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033093
"
IMAGES-007-HOUSE_OVERSIGHT_024187.txt,"7:00 AM — 7:30 AM:

07.30 AM:

08.00 AM — 08.50 AM:

09.00 AM:

11.30 AM — 12.00 PM:

01.15 PM:

03.00 PM- 03.35 PM:

03.30 PM:

04.00 PM:

04.00 PM- 04.30 PM:

04.30 PM- 05.00 PM:

04.45 PM- 05.15 PM:

Updated on 20 September 2012

Breakfast with Maldivian Delegates
o Helmsley Hotel

Depart from Hotel to UNHQ (Walking distance)

Welcoming reception hosted by the Secretary-General
o Location: Indonesian Lounge, UNHQ
o President + First Lady

Opening of the General Assembly
o Location: UNHQ
o President+ Foreign Minister + Environment Minister + AG
+ State Minister+ PR

Meeting with Commonwealth Deputy Secretary General, Mrs.
Mmasekgoa Masir- Mwamba. (Confirmed)
o Location: Commonwealth Joint Office Large Conference
room.
o State Minister+ Aliny+ Di

Luncheon in honour of Heads of State hosted by the Secretary
-General
o Location: Visitors Lobby, UNHQ

o President

Executive Director of UN-Women, Ms. Bachelet.
o Location: 220 East, 42"" Street, 19"" Floor.
o President+ State Minister + Environment Minister + AG+
Nee

Shiaan arrives in JFK
o Flight # BA 1588

[e)

Tea Reception hosted by Mrs. Ban Soon-taek for spouses.
o Location: SG’s Residence, 3 Sutton Place and 57"" Street.
o First Lady

Canada Foreign Minister (Confirmed)
o Location: TBC
o Foreign Minister

U.K, Allister Burt (Confirmed)
o Location: TBC
o Foreign Minister

UNICEF Executive Director, Anthony Lake
o Location: UNICEF Building, 13"" Floor
o President+ Foreign Minister + State Minister + Ambassador
Rasheed + PR +Aliny

HOUSE_OVERSIGHT_024187
"
TEXT-001-HOUSE_OVERSIGHT_022936.txt,"From: 
Sent: 
To: 
Subject: 
Importance: 
jeffrey E. <jeeyacation@gmail.com> 
Wednesday, January 20, 2016 10:21 AM 
Re: Help! 
High 
i appreciate your support is what i meant. has anyting happened recently? it is my birthday today 
On Tue, Jan 19, 2016 at 10:46 PM, <111=1M> wrote: 
Appreciate what? I'm not sure you do. Be back for what? Where? I don't need to be photographed. I am trying 
to avoid that, hence the reason why I moved out here. I don't need people coming here looking for me to give 
them information about you or the ""people"" I was documented with... It's not my property. I don't think you get 
it. 
On Tuesday, January 19, 2016, jeffrey E. leevacation@gmail.com> wrote: 
i appreciate it. I should be back feb 14, 
On Tue, Jan 19, 2016 at 6:39 PM, 
> wrote: 
Because you were not available to meet me in person last year and at this point I don't need to be seen. I can not have press, 
media, private investigators, film companies, etc. contacting me or my parents and sisters at home or on cell/texts and or by mail. I 
realize you don't have much control over this, but you can at least help me to move. I can't just get up and go like you. I left the 
city to escape, make a better life and I am devastated these people found me and brought to light an association of that I would 
rather them never to know. People think I was involved with something really bad and I lost a boyfriend of great potential over 
this shit. I am still in debt over all these years, been working my ass off trying to get ahead, which you could never understand I 
was even surviving off the pay I was getting. Well, its not any better. I dropped out of college because of you (and GM's) advice. 
Started working for a company you wanted me to and basically my life has has become hell since then. 
I have been your supporter for 16 years, the media explosion with Clinton, Trump and Cosby is affecting me. I'm not prepared for 
this. 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of= 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to i, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
1 
HOUSE OVERSIGHT 022936 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of CLL 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to___________________________ and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacationgmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
2 
HOUSE OVERSIGHT 022937 
"
IMAGES-003-HOUSE_OVERSIGHT_014944.txt,"to the credibility of online reviews, 4) Instant Book transition puts pressure on revenue
growth, and 5) mobile monetization headwinds.

Upside risks to our price objective are: 1} improved mobile monetization 2} major OTA
sign on for instant booking 3) high non-hotel shopper dollar capture and 4) improved
global macro environment.

Trivago NV (TRVG)

Our PO of $15 is based on a 3.5x 2018E EV/Sales multiple. We note that 3.5x is roughly
in line with the lead generation peer group average 2018E EV/Sales multiple. We think
our EV/Sales multiple is warranted as a balance between Trivago's higher growth and
lower profitability. Our price objective is supported by our DCF analysis.

Downside risks to our price objective are: 1) Growing competition, 2) Elevated marketing
spend, 3) High Customer concentration, 4) Macro and FX risks, and 5) Potential for loss
of hotel inventory.

Twitter (TWTR)

Our $14.5 price objective is based on 12x our 2018 EBITDA estimate, which reflects a
discount to the online media group (13x). We believe the Twitter platform has slowing
user and revenue growth and as such, we expect the stock to trade at a sustained
discount to online media peers, with potential M&A adding some offsetting downside
support.

Downside risks to our PO are: 1) decelerating user growth that may raise concerns on
long-term revenue opportunity, 2) pressure on usage due to emergence of competing
services, 3) new ad initiatives may not perform well, resulting in lower advertiser
demand for Twitter ads, 4) monetization of logged-out users and third party application
users are slow to materialize, and 5} on a EV/EBITDA basis Twitter is more attractive
today than in the past, but stock remains subject to multiple compression.

Upside risks to our PO are: 1) User adds could ramp on new product initiatives in the 2H,
and accelerating user growth may increase optimism on long-term revenue opportunity,
2) with new demographic targeting initiatives, Twitter is able to capture more TV dollars
(vs online ad dollars) that are incremental with video ads, 3) the NFL broadcasts and
other video content (live political, entertainment, etc.) could help Twitter grow users
meaningfully in the long term, 4) guidance could prove to be conservative, 5) traction
from monetization of logged-out users and 6) potential that Twitter could be acquired.

Wayfair (W)

Our price objective of $44 is based on 0.7x 2018E EV/sales. We continue to focus on
EV/Sales given Wayfair's lack of profitability to date. Our 0.7x target multiple is a
discount to W's eCommerce comp group and at a modest discount to W's retail comp
group. We think the multiple is appropriate given stronger revenue growth vs. peers,
balanced by lower profitability and competitive risks.

Downside risks are: 1) GAAP operating losses expected through 2018, making valuation
analysis more complex, 2) competition from several well capitalized companies including
Amazon, 3) brand complexity (5 brands), 4) category limitations, 5) partner segment
revenue headwinds, and 6) execution risk on International expansion.

Yahoo! (YHOO)

Our price objective of $57 is based on our sum-of-parts valuation assumptions. Our $53
estimated asset value represents $39/share from the remaining Alibaba stake (using
$122 Alibaba valuation {10% discount rate, mid-term FCF FY18-25E CAGR of 18%, 4%
terminal growth} x 384mn shares at 20% discount rate), $6.1 for Yahoo Japan, $0.5 for
Excalibur patents, and $6.9 in cash and cash equivalents on Yahoo's balance sheet. We

58 _Internet/e-Commerce | 06 April 2017 Bankof America <2
Merrill Lynch

HOUSE_OVERSIGHT_014944
"
IMAGES-004-HOUSE_OVERSIGHT_017093.txt,"4.2.12
WC: 191694

When I complained to my son, who had co-produced the film, that I don’t throw phones when I
lose cases—even capital cases—my son responded: “Dad, you’ve got to get it through your head
that the person on the screen isn’t you; it’s your character—‘the Dersh Character.’” He
continued to assure me, in his best professional manner, that characters have to “establish
themselves” early in the film, and that this “establishing scene” was intended to convey my energy
and my passion for the rights of criminal defendants. “If we had several hours, we could have
demonstrated your passion by recounting your involvement in many other cases, but we had about
a minute; hence the smashed phone.”

I wasn’t satisfied. “That scene doesn’t show passion,” I said. “It shows a temper tantrum.” My
son tried to explain that a character in a film has to be shown with some faults early on in the film,
so that he can “overcome” them. “I know you don’t lose your temper,” Elon assured me
smilingly, “but the viewing audience has to see you grow.”

Still, I didn’t like being portrayed as a person whose passions—manifested by occasional curses in
addition to the smashed phone—are reserved exclusively for his professional life. My “girlfriend”
in the film—a mostly fictional character played by Annabella Sciorra—complains loudly that my
character has nothing left for the people around him, and my character seems to agree: “My
clients are the people I care about.” Poor guy! I hope that’s not me, although I do have to
acknowledge that people who know me only professionally assume that I have nothing left for
those I love. But the fact is that I reserve a lot of love, loyalty and friendship for family and
people close to me.

I asked Ron Silver—who knows how important my family and friends are to me—how he felt
playing me in way that he knew was something of a stereotype of the passionate lawyer for
whom, Oliver Wendell Holmes’ said, “the law is a jealous mistress.” He responded: “I’m playing
the public Alan Dershowitz—the one people see on TV and in the newspapers. I can’t get to
know the private Alan well enough to play him, and frankly the public isn’t interested in that side
of you.”

In this book, I will try to interest my readers in both sides of my life, and how each impacts the
other, and how both are very much the products of my early upbringing and my lifelong
experiences. I think of myself as an integrated whole, though the very different roles I play—as
lawyer, teacher, writer, father, husband, friend, colleague—require somewhat different balances
among the various elements of my persona.

Although this autobiography is my first attempt to explore my life in full, I have written several
earlier books that touch on aspects of my public life. The Best Defense dealt with my earliest
cases during the first decade of my professional life. Chutzpah covered my Jewish causes and
cases. Reversal of Fortune and Reasonable Doubts each dealt with one specific case (Von Bulow
and O.J. Simpson). I will try not to repeat what I wrote in those books, though some overlap is
inevitable. This more ambitious effort seeks to place my entire professional life into the broader
context of how the law has changed over the past half century and how my private life prepared
me to play a role in these changes.

HOUSE_OVERSIGHT_017093
"
IMAGES-003-HOUSE_OVERSIGHT_015482.txt,"nN
ee)
st
te)
ro)
ke
L
Oo
”)
ow
LL
>
O
LL
ep)
_)
O
Lc

"
IMAGES-009-HOUSE_OVERSIGHT_027082.txt,"WHY FEMALE CONDOMS?

1) The female condom is the only female initiated method that provides triple
protection against STls including HIV and Zika and against unplanned pregnancy

2) Introduction of male and female condoms in the same market leads to more
overall protected sex acts

3) Cost effective, positive return on investment

THE FEMALE HEALTH COMPANY

HOUSE_OVERSIGHT_027082
"
TEXT-002-HOUSE_OVERSIGHT_032023.txt,"From: Mitchell Bard 
on behalf of Mitchell Bard__________________________________ 
Sent: 7/1/2019 12:46:20 PM 
To: jeevacation@gmail.com 
Subject: AICE Update: Did the British promise the Arabs independence in Palestine? 
HOUSE OVERSIGHT 032023 
Did the British promise the Arabs independence in 
Palestine? 
In July 1915, Hussein ibn 'Ali, the Sherif of 
Mecca, sent a letter to Sir Henry MacMahon, 
the High Commissioner for Egypt, informing 
him of the terms for Arab participation in the 
war against the Turks. The letters between 
Hussein and Mac-Mahon that followed outlined 
the areas that Britain was prepared to cede to 
the Arabs in exchange for their help. 
- 
HOUSE OVERSIGHT 032024 
Click here to read more...  
Donate Today 
Trump's Saudi Arms Sale Is About Politics and 
Economics, Not Security 
by Mitchell Bard 
President Trump wants to use his emergency 
powers to sell billions of dollars' worth of 
weapons to Saudi Arabia on national security 
grounds. Congress wants to stop the sale 
because of lingering anger over Saudi abuses 
and the murder of journalist Jamal 
Khashoggi, and the usurpation of its legal 
authority to review arms sales. Both sides are 
ingenuous. The willingness to sell the Saudis - 
weapons has little to do with American national security, and 
everything to do with economics and politics. 
Click here to read more...  
HOUSE OVERSIGHT 032025 
HOUSE OVERSIGHT 032026 
Travel 
Israel  
Religion 
HOUSE OVERSIGHT 032027 
New This Week 
Arizona-Israel Cooperation 
HOUSE OVERSIGHT 032028 
The U.S.-Israel relationship is based on the twin pillars of shared 
values and mutual interests. Given this commonality of interests and 
beliefs, it should not be surprising that support for Israel is one of the 
most pronounced and consistent foreign policy values of the American 
people. 
Today's interdependent global economy requires that trade policy be 
developed at the national and state level. Many states have 
recognized the opportunity for realizing significant benefits by seeking 
to increase trade with Israel. Arizona is one of 33 states that have 
cooperative agreements with Israel. 
Click here to read more...  
Views on Israel of U.S. Presidential Candidates 2020: 
Amy Klobuchar 
Amy Jean Klobuchar* was born on May 25, 1960, in Plymouth, 
Minnesota. Klobuchar is the daughter of Rose (née Heuberger) and 
Jim Klobuchar. She has one younger sister. Her parents divorced 
when Klobuchar was 15. 
Klobuchar attended public schools in Plymouth and was valedictorian 
at Wayzata High School. In 1982, she graduated from Yale magna 
cum laude with a B.A. in political science. During college, she was a 
member of the Yale College Democrats, the Feminist Caucus, and the 
improv troupe Suddenly Susan. During her time at Yale, Klobuchar 
spent time as an intern for then Vice President, and former Minnesota 
Senator, Walter Mondale. Her senior thesis was ""Uncovering the 
HOUSE OVERSIGHT 032029 
Dome,"" a history of the ten years of politics surrounding the building of 
the Hubert H. Humphrey Metrodome in Minneapolis. 
Click here to read more...  
Check our ongoing updates on 2020 presidential candidates 
Nazi Collaborators - Mufti Amin al-Husseini 
HOUSE OVERSIGHT 032030 
June Israel Quiz 
June Holocaust Quiz 
Israel is 71! Test yourself with our 
Israel quiz! 
Click here to take the quiz 
How much do you know about 
the holiday of Passover? 
Click here to take the quiz 
Download the Jewish Virtual Library App! 
Click Here to Download on the Google Play Store  
Click Here to Download on the Apple App Store  
Support AICE When You Shop at Amazon! 
HOUSE OVERSIGHT 032031 
When shopping at Amazon, please be sure 
to shop using Amazon Smile, and select 
AICE as your chosen charity. Its an easy 
way to help out, and a portion of your 
purchase supports our projects. 
Click Here to Donate Today 
HOUSE OVERSIGHT 032032 
You can also text rosh2018 to 71777 to donate 
Thank You for Your Support. 
American-Israeli Cooperative Enterprise I 2810 Blaine Dr., Chevy Chase, MD 20815 
Unsubscribe jeevacation@gmail.com  
Update Profile I About Constant Contact 
Sent by 
n collaboration with 
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HOUSE OVERSIGHT 032033 
"
IMAGES-005-HOUSE_OVERSIGHT_018931.txt,"ar mannenene tnmoyrn ae onthe tht TATA geneBsOee Meee oanRErEM Hea me

*

e of luxury and secrecy |. oo Oo :
ee Powerful le val team.

stymies detectives

x pocererermemen “Oe ~ "" ee ey enceret ee rn = SSE a MARS ARS
Women in his life
i
: Ghislaine Maxwell,a ‘I'm like a Heidi
| | | ' fixture at elite parties Fleiss”
| and the intensely told police she took at |
: i private daughter of a least six girls to visit i
media tycoon, dated Epstein, all between the
2 Je | Epstein in the 1990s, ages of 14. and 16. |
| FINA FINEBERG/The Associated sont p , B hp t :
a, i Upper Eas aimseacnrost.com
Epstein’s Manhattan townhouse dominates a block on the L } a
Sie. Thought to be the fargest private residence in Manhattan, itis sepcned Read previous stories on the Epstein investigation.
‘ to have closed-circuit television and a heated sidewalk * = ie te ee

HOUSE_OVERSIGHT_018931
"
IMAGES-005-HOUSE_OVERSIGHT_020276.txt,"124

In view of such past successes of the Russian intelligence services, it cannot be precluded that
there was another person in the NSA working with Snowden who used an enthusiastic as cover to
prevent any light from falling on his own surreptitious spying. While it may seem extremely
unlikely that Snowden had such assistance, the alternative scenario, that Snowden broke into the
sealed compartments and made off with the documents without any assistance, seems equally
unlikely.

Even if Snowden had been, as he claims, a pure idealist seeking to right a perceived wrong, it

does exclude the possibility of his becoming entangled in the plots of others. Intelligence services
make it their business to bring about such witting or unwitting entanglements.

HOUSE_OVERSIGHT_020276
"
IMAGES-001-HOUSE_OVERSIGHT_011015.txt,"investment. A policy to increase investment would thus lead not only to higher
capital intensity, which might not matter much, but also a faster transfer of new
technology into actual production, which would. Steady-state growth would not be

affected, but intermediate-run transitions would, and those should be observable.

That idea seemed to correspond to common sense, and it still does. By 1958 I was
able to produce a model that allowed for the embodiment effect. ... If common sense
was right, the embodiment model should have fit the facts better than the earlier
one. But it did not. Dension (1985) , whose judgment I respect, came to the
conclusion that there was no explanatory value in the embodiment idea. I do not

know if that find should be described as a paradox, but it was at least a puzzle.

Edward Denison was another leading growth economist Solow consulted.
Remember that Solow had defined disembodied growth to mean better use of
existing assets, as when ships carrying coal to Newcastle are inspired to reverse the
business plan. It is easy to see how disembodied growth could come more or less for
free. But Solow puzzled how embodied growth, which needs “new and different

capital equipment,” could arrive without “ a policy to increase investment.”

It can for the same reason that Achilles can overtake the tortoise. Solow’s problem, |
think, may have been that new and different capital equipment stands to embodied
novelty as a new and different chicken laying a new and different egg. We can see
how the different capital might come first through saving from consumption
deferment. And it seems clear that the embodied novelty could not. But one of the
beauties of calculus is that it allows chicken and egg to evolve simultaneously.

Neither novelty precedes the other at the instant of first embodiment.
This time it is Newton and Leibnitz to the rescue, along with the trusty Gunnar
Myrdal, if 1 guess right about Solow’s misgivings. Since he understands calculus and

Myrdal far better than I do, I may guess wrong. So let me try another way. It seems

to me that embodied growth is still disembodied growth at a finer and more basic

Chapter 4 Mill’s Idea 1/11/16 24

HOUSE_OVERSIGHT_011015
"
IMAGES-003-HOUSE_OVERSIGHT_016160.txt,"Bloomberg consensus estimates) vs. STC at 17% (consensus). It is thus arguably crucial
for Zain and Mobily to be allowed to increase market share in the mobile arena. We thus
believe the regulator (CITC) regulator will have to consider further steps to afford
market share to the second and third entrants including asymmetric competition
measures (pricing, MTRs), license extensions or differentiated royalty rates.

STC the likely beneficiary of FTTH expansion

Whilst we argue that STC could lose further market share in the Mobile market as a
result of regulatory moves, we believe the negative impact will be offset by growing
revenues from FTTH, IPTV and the corporate market. Indeed, we believe STC, given its
market leading FTTH network and IPTV offering, will likely benefit most acutely from
the growth in the number of FTTH customers. Furthermore, with government grants
likely to be provided for FTTH roll out in less economical areas (as part of the NTP), we
believe returns will likely not suffer from the additional capital deployment. Mobily could
also benefit (given its well-developed FTTH infrastructure), although we expect it to lag
STC who has a first mover advantage and arguably a stronger FTTH/Triple play offering.

We note, Zain KSA will unlikely participate in the rollout of the FTTH expansion given its
constrained balance sheet and strategic focus on the wireless market. That said, the
company could benefit from the rollout of high speed internet solutions over its wireless
network (ie fixed broadband over its 4G network), particularly in areas where the
construction of FTTH networks maybe be difficult or uneconomical.

Royalty rate increases unlikely, particularly for Zain KSA and Mobily

Admittedly, an increase in royalties could be an easy way of raising much needed
revenues for the government. After all, each 1% increase could raise income by more
approximately SAR500mn (cUS$130mn). However, we would argue that this is unlikely
given the lack of sufficient competition in the market and the obstacles to increased
competition higher royalty rates would introduce. In the same vein, we also believe it
highly unlikely that the government would seek to introduce a fourth mobile operator
license given the lack of sufficient market capacity between the second and third
operators.

Religious tourism a material opportunity for telecom providers

Saudi Arabia’s ambitious growth targets for religious tourism provide a material
opportunity for the telecom providers in our view. More specifically, if the number of
religious tourists (for Hajj and Umrah) increases by an estimated 10mn per annum by
2020, we believe demand for roaming services (voice and data) and sim purchases will
increase significantly. Indeed, on our estimates, we see the 10mn visitors potentially
providing a SAR2bn-SAR4bn opportunity, representing a c4-8% uplift in total wireless
revenues for service providers. We particularly believe Zain KSA will benefit strongly
from this given they provide the most competitive Pay as you go packages currently and
have the largest spare capacity on their network.

50 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch

HOUSE_OVERSIGHT_016160
"
IMAGES-005-HOUSE_OVERSIGHT_018702.txt,"secondary relationship (polyamory): A relationship with less commitment and fewer
expectations than other relationships. Polyamorists sometimes disagree about whether
relationship hierarchies are desirable.

soft limit (BDSM): A weak, negative BDSM preference that is discussed ahead of time.
For example, a person may strongly dislike anal sex, but be willing to have anal sex in
certain contexts, like when he’s really turned on; in that case, anal sex would be a soft
limit. See also: hard limit.

squick (BDSM): A feeling of not wanting to participate in an act, without judging others
for doing it. For example, if a BDSMer feels sick at the sight of blood yet doesn't want to
express disgust towards blood fetishists, then she might describe herself as squicked by
blood. The BDSM subculture generally places a high value on recognizing that one can
be squicked by an act, without judging it.

submissive (BDSM): A person who enjoys receiving orders or otherwise accepting an
experience defined by a partner.

swing: A community to support people who want to have sex with multiple people and
be honest with everyone involved. Unlike polvamorists, swingers usually don't
emphasize developing emotional connections in secondary relationships, but this isn't
always true. Clarisse is less familiar with swing than polyamory, but some swingers
emailed her this Swing 101: http:/Awww.swingersboard.com/forums/fag.php?
faq=swinger_faq And the blog Polyamory In The News has a good post on the various
distinctions between polyamory and swing: http://polyinthemedia.blogspot.com/2009/12/
polys-vs-swingers-as-viewed-from-2010.html

switch (BDSM): A person who feels comfortable in either the top or the bottom role.

top (BDSM): A blanket term for a sadistic and/or dominant partner. Not everyone who is
sadistic is dominant, and vice versa.

vanilla (BDSM): A term to describe people who aren't into BDSM, or sexual acts that
aren't perceived as BDSM. Some folks describe so-called ""slightly BDSM"" people or acts
as french vanilla. Sometimes, non-BDSM people are offended by being described as
vanilla, which Clarisse thinks is silly, but she often avoids the term anyway and says ""not
into S&M"" instead.

ze (queer studies): A gender-neutral pronoun, also written as ""xie."" The possessive
version is ""zir"" or ""xir"" or, sometimes, ""hir.”

HOUSE_OVERSIGHT_018702
"
TEXT-001-HOUSE_OVERSIGHT_030467.txt,"From: Boris Nikolic 
Sent: 3/8/2011 8:58:30 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: RE: 
Importance: High 
What is this??? When this will stop. This is crazy. 
And you are NOT 57;) 
And certainly you are NOT socially awkward. 
Who is that idiot. 
Boris 
From: Jeffrey Epstein [mailto:jeevacation@gmail.com] 
Sent: Tuesday, March 08, 2011 3:28 PM 
To: Boris Nikolic 
Subject: 
Jeffrey and Ghislaine: Notes on New York's Oddest Alliance 
<http://www.vanityfair.com/online/daily/2on/o3/notes-on-
new-yorks-oddest-couple-jeffrey-epstein-and-ghislaine-
maxwell.html> 
by Vicky Ward <http://www.vanityfaincom/contributors/vicky-ward> 
March 8, 2011, 2:30 PM 
""I've got a story idea for you. The rebuilding of Indonesia. Or New Orleans. Or both. Go there. I've just been. 
You will never think the same way about anything again."" 
So spoke not Bill or Melinda Gates, but Ghislaine Maxwell, the 48-year-old woman being written up 
everywhere at the moment as the alleged ""procurer"" of young women for billionaire Jeffrey Epstein. 
Epstein, 57, is the financier who spent a year in jail on charges of soliciting prostitutes—and now there is talk of 
another investigation because various women, now in their twenties and thirties, have come forward with 
allegations that he molested them when they were under-age. The allegations first surfaced in British 
newspapers, which have zeroed in on Epstein's friendship with Prince Andrew, who has recently tried to 
publicly disassociate himself from his old pal. 
I wrote a piece for Vanity Fair in 2003 called ""The Talented Mr. Epstein."" It was largely a business piece that 
focused on his mysterious exit from Bear Stearns in 1981, his close relationships with Jimmy Cayne, Les 
Wexner, the chairman of Limited Brands, and above all, the man who claimed to be his mentor, Steven Jude 
Hoffenberg, who is currently serving a 20-year-jail sentence for bilking investors in Towers Financial out of 
$450 million. 
The piece alluded to Epstein's great friendship with Maxwell, and how she introduced him to young women 
with whom he had sexual relationships. But, in the end, the story didn't really go there, focusing instead on the 
issue that remains a mystery—how Jeffrey made his money, and how Ghislaine made hers. 
This is not to say I didn't hear stories about the girls. I did. But, not knowing quite who to believe, I 
concentrated on the intriguing financial mystery instead. But now the women have come back. Not the same 
ones, different ones. And their stories are bone-chilling. Journalists from England have phoned—and, in one 
case, flown—to ask me about Epstein and Maxwell. Who is he? And the British, especially, want to know: Who 
is she? At this point, I am so bored of repeating myself to others—it was, after all, my 2003 Vanity Fairstory 
that really brought him into the limelight—that I have decided to write about this myself. 
HOUSE OVERSIGHT 030467 
Bizarrely, perhaps, I have gotten to know Jeffrey and Ghislaine far better after my piece than before it. I kept 
running into both of them, separately, at parties. Jeffrey is not a social animal so he usually has a couple of 
young women with him who stand two feet behind him, as if serving a monarch. ""Do they speak?"" I remember 
asking him once, nodding at his lookalike blondes. He laughed. ""Not like you,Vicky,"" was his riposte. 
I remembered that when we'd once discussed math—in particular, an isosceles triangle—and I revealed I hadn't 
studied math since I was 14 (such is, or was, the way of the British educational system), I received a package at 
home via messenger. It was a book: ""Math for idiots."" 
So he is not without humor, even though he doesn't drink or smoke, and hates restaurants. 
""Jeffrey knows a good deal about most subjects,"" newspaper publisher Mort Zuckerman told me last week. He 
was certainly preaching to the converted. The truth is, Epstein does know a lot about a lot of things. Just a few 
moments in his company and you know this to be true. 
When I saw pictures of Prince Andrew walking in Central Park with Jeffrey, my immediate thought was that 
""Andy""—as Jeffrey calls him—is probably asking for help with his role as British trade envoy, or whatever his 
strange title is. Because if one thing's for sure: When it comes to international business, Jeffrey knows what 
he's talking about far more than ""Andy"" does. Which is why Leon Black, Mort Zuckerman and a few other 
financiers hang out with him. 
And Ghislaine? 
Full disclosure: I like her. Most people in New York do. It's almost impossible not to. 
She is always the most interesting, the most vivacious, the most unusual person in any room. I've spent hours 
talking to her about the third world at a bar until 2am. She is as passionate as she is knowledgeable. She is 
curious. She has spent weeks at the bottom of the ocean, literally going deeper than anyone else. She has sent 
me a DVD of the fish there. Her rolodex would blow away almost anyone else's I can think of—probably even 
Rupert Murdochs'. She is very well-read and can talk about most things for hours. She is passionate about Bill 
Clinton with whom she is close friends. 
Yet, touchingly, when she had to give a speech at the 40th birthday party of her best friend, Ariadne Calvo-
Platero, (known fondly to her close friends as ""the Tennis Goddess"") Ghislaine shook a little with nerves. When 
it comes down to things she really cares about—and Ariadne is one of them—Ghislaine shows her vulnerability. 
And that vulnerability is key to understanding her friendship with Jeffrey. 
""He saved her,"" I remember a close friend of mine telling me. ""When her father died, she was a wreck; 
inconsolable. And then Jeffrey took her in. She's never forgotten that—and never will."" 
In many ways, the socially awkward Epstein with his big house, plane, island and ranch was the perfect 
replacement for her father, the late Robert Maxwell, newspaper tycoon and criminal. Sure, Jeffrey had his 
sexual pecadillos, but then Ghislaine's father was not without his oddities. After all, it was he who died leaving 
a massive ""black hole"" he'd fraudulently created. To Ghislaine, Jeffrey's habits may not have seemed that 
strange. 
In fact, she probably figured, rather like I have, after years of writing about he very rich, that most successful 
people in the end either have some weird habit (the late Bruce Wasserstein had the weight issues, the girl 
issues, and moved countries to avoid paying tax), or they break the law (Sam Waksal, Martha Stewart.) You 
don't tend to get to the top by being the world's most balanced human being. Even the folksy Warren Buffett 
didn't quite manage a normal life—whatever that is. He had a second ""wife"" for many years whose existence he 
has been open about. 
So what to make of the current fuss over Ghislaine? I haven't spoken to her or to Jeffrey, but I suspect that her 
loyalty to friends like Bill Clinton will keep her in good stead, in the end, she'll be out and about as always. Look 
at Waksal and Stewart. No one sees them and thinks: criminal. Au contraire. In this city, money makes up for 
HOUSE OVERSIGHT 030468 
all sorts of blemishes. 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030469 
"
IMAGES-002-HOUSE_OVERSIGHT_012997.txt,"4.5 Globalist versus Localist Representations 81

gorization of visual memory contents takes place by retrieving object and scene categories from
DUAL’s semantic memory and mapping them onto current visual memory representations.

DUAL coalihon

DUAL Semantic Memory / f

tworecHumin text

== i,

title ~~ feft column right cole —

1 he .
» *
”

Fig. 4.10: The three main components of the DUAL model: the retinotopic visual array (RVA),
the visual working memory (VWM) and DUAL’s semantic memory. Attention is allocated to
an area of the visual array by the object in VWM controlling attention, while scene and object
categories corresponding to the contents of VWM are retrieved from the semantic memory.

In principle the DUAL framework seems quite powerful; using the language of CogPrime,
however, it seems to us that the learning mechanisms of DUAL have not been formulated in
such a way as to give rise to powerful, scalable cognitive synergy. It would likely be possible
to create very powerful AGI systems within DUAL, and perhaps some very CogPrime -like
systems as well. But the systems that have been created or designed for use within DUAL so
far seem not to be that powerful in their potential or scope.

4.5.4 4D/RCS

In a rather different direction, James Albus, while at the National Bureau of Standards, de-
veloped a very thorough and impressive architecture for intelligent robotics called 4D/RCS,
which was implemented in a number of machines including unmanned automated vehicles. This
architecture lacks critical aspects of intelligence such as learning and creativity, but combines
perception, action, planning and world-modeling in a highly effective and tightly-integrated
fashion.

The architecture has three hierarchies of memory/processing units: one for perception, one
for action and one for modeling and guidance. Each unit has a certain spatiotemporal scope,

HOUSE_OVERSIGHT_012997
"
IMAGES-002-HOUSE_OVERSIGHT_013451.txt,"Katie Holmes and Tom Cruise

HOUSE_OVERSIGHT_013451

a
rv

"
IMAGES-009-HOUSE_OVERSIGHT_027069.txt,"Matthews then raised $44 million from EB-5 investors, according to a complaint by the Securities and
Exchange Commission. EB-5 is a federal program that allows foreign investors the chance to gain a green

card if they invest at least $500,000 into certain projects that create at least 10 jobs.

The SEC’s complaint said, however, that much of this money was misallocated to pay for Matthews’
personal expenses. Some of the funds allegedly went to pay for Mathews’ Connecticut home, his 151-

foot mega yacht, as well as to save his Palm Beach mansion from foreclosure, according to the complaint.

In a separate lawsuit filed by a group of EB-5 investors, the development group claimed that famous
celebrities and politicians such as Bill Clinton, Donald Trump, Celine Dion and Bill Koch — would serve

on the Palm House’s advisory board when, in fact, they did not.

Related Companies, led by Miami Dolphins owner Stephen Ross, developed CityPlace West Palm Beach.
The company is also proposing to build a 25-story office project called One Flagler in downtown West
Palm Beach.

HOUSE_OVERSIGHT_027069
"
IMAGES-003-HOUSE_OVERSIGHT_014777.txt,"Best Technical Trades

Paul Ciana, CMT
MLPF&S
paul.ciana@baml.com

Technical trends for Trump
¢ Bullish USD: Breadth and technicals favor USD. Overall they point to a stronger US
dollar in 2017. We are bullish USD/JPY.

¢ Higher yields: US 10y and 30y yield made large wedge bottom patterns, pointing to
a 61.8% Fibonacci retracement of 2.98% and 3.80%, respectively.

e Werecommend buying a NZD/USD 5m .69/.66 put spread 1x1.5 for 43 USD pips
(off of .7100 spot).

USD rally is turning Into an outright bull

The Bloomberg US dollar index is approaching all-time highs. The number of USD
crosses above their 200-day moving average has broken out higher. The number of USD
crosses reaching overbought on RSI (bullish momentum) continues to rise. The USD
cumulative advance-decline line recently signaled for tactical USD strength and would
turn outright bullish with a trend line break and new index highs.

Chart 79: Bloomberg US dollar index, weekly chart with USD breadth measures

MEBDXY Index - Last Price MISMAVG (200) on Close (BBDXY) LI9L47 Resistance: 1255 |
A af"" — ql
angel wg
my 1150

BUSD Cumulative AD Line +23.00 [2 |

-i= ——— Progresshe AD Line
pees nearing breakout

. Or. ; pel _—

Me of USD crosses > 200d SMA +100

Breakout

Be of USD crosses RSI>70 a0

ig eg Rising bullish momentum iF

10
ro
2013 2014 2015 2016 2017
Source: BofA Merrill Lynch Global Research, Bloomberg
Bankof America Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 47

Merrill Lynch

HOUSE_OVERSIGHT_014777
"
IMAGES-008-HOUSE_OVERSIGHT_025237.txt,"hasn’t resulted in an inflationary surge (core inflation measured over 3 months just came in below 2%), so why not keep
doing it? Aren’t these charts amazing?

Rising Federal debt? No problem for Treasury markets Rising Fed balance sheet? No problem forinflation
Percentof GDP ‘Yield, percent, 30 day movingaverage Percentof GDP Percentchange, voy
fs 20% 40%,

-
ee oo” 6 48% 18% 3.5%
70% - .

65% 43% 16% 3.0%
i 10-year 3.8% 44% Bo
“a A Treasuryyield| ~~ i aa

St f ;

mst —_ 3.3% 12% 2.0%
SO

45% Debtto GDP U 2.0 10% 1.5%
40% . 7 Balance sheet 4 meg
35% 23% 8% itl 1.0%
0%, 18% 6% 05%

Sep-04 Feb-06 Jun-O7 Nov-08 Mar-10 Aug-11 Dec-12 2004 2005 2006 2007 2008 2009 2010 2011 2012

Source: CBO, Bloomban. Assumes CBO Alternative Casefor estimates. Saurce: FadaralReseve Board Bureau of Labor Statistics

They are amazing, but no one knows how long they can be sustained. Even Summers and DeLong concede that “even if it
is granted that the stimulus can be both timely and temporary, the question of how large it can be while preserving these
attributes remains for future research”. If one of these trends could not be sustained, my guess is that it would be fiscal
constraints rather than monetary ones. While it’s great to see rising Federal debt not adversely affecting Treasury
markets, the chart on the left reminds me of The Day of the Triffids.

What is The Day of the Triffids?

It’s a 1951 science fiction novel. There’s a meteor shower, and most people go outside to look at it. The next morning,
everyone who looked at the meteor shower ends up blind, and Earth is taken over by giant man-eating venomous

plants. The point: some amazing events which look benign have unforeseen consequences. Will a pact of going for
growth pay the freight of higher Federal debt in the long run? Hard to say; there are not a lot of examples to draw

from. Economic theories and their associated debt bubbles don’t always work out as planned [a]. After WWII, the US
also faced a debt ratio of 80% of GDP. Austerity was not the answer back then; government receipts and outlays as a %
of GDP did not change much during the 1950’s, and net debt was flat. So how did US debt/GDP fall from 80% to 46%
in just ten years? Robust annualized real growth of more than 4.0%, and 2.0% inflation. However, unique economic
conditions and productivity gains of the 1950’s (e.g., interstate highway, rebuilding of Europe and Japan) may not be
repeated, and the country was not headed into an entitlement time bomb. If the US does not experience a
growth/productivity boom, the burden of higher debt could last for a generation or more. A pro-growth Administration
would probably help, but the difficulty lay in defining exactly what that means.

Isn't it amazing? 1950's debt reduction was based on growth, not austerity

Net debt [Net debt] Nominal/Real GDP (bn/ Outlays (%| Receipts (%
| _|oxercor]' ton [cor en s2c0 uso | orcor) | orcor)
| 1950) $219 16% 14%
| 1951] = $214 es a 14% 16%
| 1952 Royer $215 $349 $322 19% 19%
BEE 59% $218 $373 $341 21% 19%
| 1954Rt $224 $377 $343 19% 19%
Mos 57% $227 $396 $354 17% 17%
MEGS: 352% $222 $427 $368 17% 18%
| 1957 fete $219 $451 $377 17% 18%
BGs: 49% $226 $460 $377 18% 17%
Br 848% $235 $490 $398 19% 16%
| 1960MEEE Lo $237 $519 $415 18% 18%

Comp. ann’l gr: 0.8% 6.6% 4.3%

Source: OMB, BEA

Are there debt vs austerity parallels at the state and local level?
Yes and no. At the state and local level, over last decade, more than 1 trillion in unfunded pension and healthcare (OPEB)
related liabilities were recognized (they were accrued over a longer period). Even these “‘as-reported” estimates, which

HOUSE_OVERSIGHT_025237
"
IMAGES-007-HOUSE_OVERSIGHT_023165.txt,"OUP CORRECTED PROOE - FINAL, 10/9/2014, SPi

The Crooked Course xxxili

he invited me to meet him at the King David Hotel in Jerusalem. During the course of
the conversation, he surprisingly asked what I would do with the peace process if I were
him. I had just re-read his autobiography, Warrior, and answered: “Both as a soldier
and as a politician, you have a history of being bold, daunting, daring and making
surprise moves. In that spirit, 1 would suggest that you dismantle the settlements and
pull your troops completely out of Gaza.” For a minute I worried that this would anger
him, but he answered very calmly. “I cannot do it.” I asked why. He said: “Because of
the harbor.” I replied, rather perplexed: “But there is no harbor in Gaza.” He said:
“That’s not the point. They could build one if we left Gaza.” Then I realized that,
contrary to common opinion, Sharon had no ideological inhibitions about leaving
Gaza. His concerns were only about security. This gave me high hopes that he would
eventually do it. Three years of stalemate were to follow. And then in December 2003,
out of the blue, Sharon made the sweeping and stunning pronouncement that Israel
would leave Gaza and end its occupation of the Strip.

Ariel Sharon deserves praise for withdrawing from Gaza. But his unilateral move
undermined the possibility of peaceful relations between the inhabitants of the Gaza
Strip and Israel. The PLO and the Palestinian Authority were sidelined. They could not
claim credit for the move, and thus had scant motivation for supporting it. Instead,
militants in Gaza and the West Bank harvested all the benefits. The Disengagement
plan undermined those on the Palestinian side who claimed that the negotiating table
was a more efficient tool than the barrel of a gun in order to resolve the conflict.

ON PART II: PEACE PROPOSALS AND IDEAS

The formal agreements covered in Part I represent the conclusions of long and complex
diplomatic processes. Part II encompasses proposals and ideas that contributed to
breaking taboos and changing opinions that paved the way for precedent-setting
agreements.

In the late 1970s and 1980s several plans and initiatives were put forward which
maintain relevance for the future of the peace process. One idea was a comprehensive
and unified Arab approach which was first proposed in the Fahd Plan (1981), and later
refined in the Arab Peace Initiative of 2002. The latter peace proposal promoted by
then Saudi Crown Prince Abdullah al-Saud represented a unified shift in the Arab
States’ approach to Israel. Where there was once rejection, the Arab peace initiative
created the possibility of universal recognition of the State of Israel. All 57 countries of
the Organization of Islamic Cooperation (OIC) endorsed the initiative.

The aftermath of the Gulf War of 1991 opened new opportunities to address the
complex issue of peace in the Middle East. This was the backdrop for the groundbreak-
ing Madrid Peace Conference, convened by the United States and the Soviet Union. It
raised new hopes for peaceful resolution to the enduring conflicts of the region. The
conference created an unprecedented platform for peace talks, based on the principle of
“land for peace”. The Israelis would have to cede land to their Arab adversaries in
return for peace and security. The Madrid formula for organizing such talks followed a

HOUSE_OVERSIGHT_023165
"
IMAGES-004-HOUSE_OVERSIGHT_017078.txt,"Rajat Kumar Gupta

Sanjay Gupta
Shekhar Gupta

Chander Prakash Gurnani
Angel Gurria

Francis Gurry

Klaus-Peter Gushurst
Antonio Guterres

Amy Gutmann
Karl-Theodor Freiherr zu
Guttenberg

Lino Guzzella

Bonnie W. Gwin

H.R.H. Haakon of Norway
Felix Haas

Richard N. Haass
Edgard Habib
Francesca von Habsburg

Michael E. Haefliger
Gerd Haeusler
Ahmed Hafez

Nada Abbas Haffadh

Jamil El Hage
Stein Erik Hagen
Mikael Hagstr6m
Priya Haji

Jahangir Hajiyev

Victor Halberstadt
Ueli Haldimann
Roshi Joan Halifax

Eugene Hall
Wendy Hall

Heinz Haller

Tarja Halonen

Martin C. Halusa

O. Andreas Halvorsen
George C. Halvorson

Junichi Hamada
Ali Hamadé
Jurgen Hambrecht

Andrew Hamilton
Mohamed Bin Dhaen Al
Hamli

Han Seung-Soo

Harish Hande
Paul Hanratty
Tim Hanstad

Hao Jiming

Donald R. Harkleroad
Poppy Harlow
Fredric W. Harman

Chairman

Chief Medical Correspondent
Editor-in-Chief

Chief Executive Officer
Secretary-General, Organisation for
Economic Co-operation and
Development (OECD), Paris
Director-General, World Intellectual
Property Organization (WIPO),
Geneva

Senior Vice-President, Director of
Global Board

UN High Commissioner for Refugees,
Geneva

President

Federal Minister of Defence of the
Federal Republic of Germany
Professor

Managing Partner, Board Practice
Crown Prince of Norway

Chief Executive Officer and Head of
Product

President

Chief Economist

Chairman

Executive and Artistic Director
Chief Executive Officer

Adviser

Member of the Shura Council of
Bahrain

Head, Business News
Chairman

President, EMEA and Asia Pacific
Co-Founder and Former Chief
Executive Officer

Chairman of the Board

Professor of Public Economics
Owner and Founder

Founder, Abbot, Upaya Zen Center,
USA

Chief Executive Officer

Dean, Faculty of Physical and
Applied Sciences; Trustee and
Programme Director, Web Science
Trust

Executive Vice-President and Chief
Commercial Officer

President of Finland

Chief Executive Officer

Founder and Chief Executive Officer
Chairman and Chief Executive Officer

President

Journalist and Editorialist

Chairman of the Board of Executive
Directors

Vice-Chancellor

Minister of Energy of the United Arab
Emirates

Chairman

Managing Director

Chief Executive Officer, Long Term
Savings and Chairman

President and Chief Executive Officer
Academician and Professor,
Department of Environmental
Science and Engineering

President

Anchor, CNNMoney.com

Managing Partner

World Economic Forum Annual Meeting 2011

International Chamber of
Commerce (ICC)

CNN International

The Indian Express
Newspapers Ltd
Mahindra Satyam

Booz & Company

University of Pennsylvania

ETH Zurich
Heidrick & Struggles

amiando AG

Council on Foreign Relations
Chevron Corporation
Thyssen Bornemisza Art
Contemporary

Lucerne Festival

BayernLB

National Bank of Kuwait

Al Arabiya

Canica AS

SAS Institute Inc.
WorldofGood.com by eBay
Inc.

International Bank of
Azerbaijan

Leiden University
Unlimited Communications

Gartner Inc.
University of Southampton

The Dow Chemical
Company

Apax Partners LLP

Viking Global Investors LP
Kaiser Foundation Health
Plan Inc.

The University of Tokyo
An-Nahar

BASF SE

University of Oxford

Global Green Growth
Institute (GGGI)

SELCO Solar Light (P)
Limited

Old Mutual Life Assurance
Company Limited
Landesa

Tsinghua University

The Bristol Company
CNN
Oak Investment Partners

France

USA
India

India

Germany

USA

Switzerland
USA

Germany

USA
USA
Austria

Switzerland
Germany
Kuwait

United Arab Emirates
Norway

USA

USA

Azerbaijan
Netherlands

Switzerland

USA
United Kingdom

USA

United Kingdom
USA
USA

Japan
Lebanon
Germany

United Kingdom

Republic of Korea
India

South Africa

USA

People's Republic of
China

USA

USA
USA

HOUSE_OVERSIGHT_017078
"
IMAGES-003-HOUSE_OVERSIGHT_015469.txt,"NAUTILUS EDUCATION

a negatively charged grid draws the atoms toward the
back of the ship. They overshoot the grid and stream
off into space at speeds 10 times faster than chemical
rocket exhaust (and 100 times faster than a bullet).
For a post-Voyager probe, ion engines would fire for 15
years or so and hurl the craft to several times the Voy-
agers’ speed, so that it could reach a couple of hundred
AU before the people who built it died.

Star flight enthusiasts are also pondering ion drives
for a truly interstellar mission, aiming for Alpha Cen-
tauri, the nearest star system some 300,000 AU away.
Icarus Interstellar, a nonprofit foundation with a mis-
sion to achieve interstellar travel by the end of the cen-
tury, has dreamed up Project Tin Tin—a tiny probe
weighing less than 10 kilograms, equipped with a min-
iaturized high-performance ton drive. The trip would
still take tens of thousands of years, but the group sees
Tin Tin less as a realistic science mission than as a
technology demonstration.

Going Light: Solar Sails

A solar sail, such as the one used by the Japanese
IKAROS probe to Venus, does away with propel-
lant and engines altogether. It exploits the physics of
light. Like anything else in motion, a light wave has

BETA PRODUCT

momentum and push-
es on whatever surface
it strikes. The force is
feeble,
noticeable if you have
a large enough surface,
a low mass, and a lot
of time. Sunlight can
accelerate a large sheet
of lightweight material,
such as Kapton, to an
impressive speed. To
reach the velocity need-
ed to escape the solar
system, the craft would
first swoop toward
the sun, as close as it
dared—inside the orbit
of Mercury—to fill its
sails with lusty sunlight.

Such sail craft could
conceivably make the
crossing to Alpha Centauri in a thousand years. Sails
are limited in speed by how close they can get to the
sun, which, in turn, is limited by the sail material’s
durability. Gregory Matloff, a City University of New
York professor and longtime interstellar travel propo-
nent, says the most promising potential material is gra-
phene—ultrathin layers of carbon graphite.

A laser or microwave beam could provide an even
more muscular push. In the mid-1980s, the doyen of
interstellar travel, Robert Forward, suggested piggy-
backing on an idea popular at the time: solar-power
satellites, which would collect solar energy in orbit
and beam it down to Earth by means of microwaves.
Before commencing operation, an orbital power sta-
tion could pivot and beam its power up rather than
down. A 10-gigawatt station could accelerate an ultra-
light sail—a mere 16 grams—to one-fifth the speed of
light within a week. Two decades later, we’d start see-
ing live video from Alpha Centauri.

This “Starwisp” scheme has rts dubious features—it
would require an enormous lens, and the sail is so frag-
ile that the beam would be as likely to fry it as to push
it—but it showed that we could reach the stars within

but becomes

a human lifetime.

HOUSE_OVERSIGHT_015469
"
IMAGES-008-HOUSE_OVERSIGHT_024897.txt,"COWEN
COLLABORATIVE INSIGHTS February 25, 2019

beverages) will be imperative. This regulatory framework does not affect skincare,
cosmetics or topicals with CBD or hemp ingredients.

2

Europe
UK

The UK legalized prescription based medical cannabis in November 2018. Medical
cannabis treatments that are advertised with specific medical claims must obtain
authorization from the Medicines and Healthcare Regulatory Agency (MHRA). Currently,
licensed medical cannabis products are Sativex, Dronabinol and Nabilone. Epidiolex,
medical grade pure CBD produced by British pharmaceutical company, GW
Pharmaceuticals, is undergoing the licensing process. “Unlicensed” products may be able
to be obtained, such as products from Tilray or Bedrocan, under special circumstances
which are unmet by other licensed products. Canopy and Aurora announced at the
beginning of 2019 that it plans to export to the UK later this year. Despite changes in
legality, the number of patients who have been prescribed medical cannabis treatments
is quite limited.

While pharmaceutical grade products are difficult to obtain, CBD products are widely
available across the UK. Pure CBD is not a controlled substance under the Misuse of
Drugs Act 1971. Therefore, as long as CBD products are not authorized by the MHRA,
medical claims on labeling and packaging cannot be made. There are also no enforced
regulations for testing or packaging. These loopholes in the legislation have led to an
increasing number of CBD products marketed as health supplements or wellness
products. Due to the growing trend, CBD products have been widely available across the
UK, primarily sold in boutique shops, cafes, health stores and online. Holland and
Barrett, a health foods store, was the first High Street store to carry CBD products in
2017. Other mainstream outlets now sell hemp-based beauty products, CBD tinctures,
edibles, vapes, e-liquids and other forms of the substance. A handful of restaurants also
offer CBD cocktails or hot drinks, and the number of kitchens and chefs using cannabis-
based products is increasing across the country.

However, in January 2019, the UK Food Standards Agency (FSA) announced that it
plans to conduct an investigation of CBD products for consumer safety. It is expected
that the FSA will later provide requirements for authorization. This may take up to 18
months. Although enforcement is unclear at the moment, some CBD products have
already been removed from the shelves. Since the FSA’s assessment does not apply to
cosmetics or skincare products with CBD, some CBD companies have expressed interest
in launching beauty products now.

A license is required in order to cultivate hemp in the UK. There are restrictions on
where the farm can be located that must be approved by the Home Office. Many
companies still struggle to secure banking and payment options for their hemp-related
businesses. A lobbying group, the British Hemp Association, was formed to educate and
push for legislative changes, such as whole plant processing and financial support. Due
to barriers of entry, the number of hemp farmlands is small, around 810 hectares.

Italy

Medical cannabis has been legal in Italy since 2013, yet access and supply remained
restricted for years. In 2017, the Military Chemical and Pharmaceutical Plant (MCPP)
received a license to cultivate medical cannabis, which supplemented the imported
supply from the Netherlands (i.e. from Bedrocan). The MCPP cultivates a medical
cannabis product, FM2, that contains 5-8% THC and 7.5-12% CBD. A high THC product
(FM1) and a CBD product (FMO) will soon be available. The MCPP only produces 100-150

COWEN.COM 81

HOUSE_OVERSIGHT_024897
"
IMAGES-006-HOUSE_OVERSIGHT_020743.txt,"HOUSE_OVERSIGHT_020743
"
IMAGES-012-HOUSE_OVERSIGHT_033078.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 3/24/2018 12:26:50 PM
To: Kathy Ruemm|er
Subject: Re:

Importance: — High

but -accurate

On Sat, Mar 24, 2018 at 8:26 AM, Kathy Ruemmler ee wrote:

Not confidence inspiring
Sent from my iPad
On Mar 24, 2018, at 6:38 AM, jeffrey E. <jeevacation@gmail.com> wrote:

https://www.thedailybeast.com/how-close-is-donald-trump-to-a-psychiatric-breakdown?ref=home

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033078
"
IMAGES-001-HOUSE_OVERSIGHT_012291.txt,"18
19
20
21
22
23
24
25

wow oN OD WN BR wWN

FPF FP FPF FE RP
wu & WwW hw FF ©

2007-04-25 | au

Q. Okay. Let me just ask you a couple of

was out of there.

follow-up questions. You said that someone escorted you
up to the room. Do you know who that was?

A. One of -- what's her name? Actually, | |
PE jusc said, you know, it's up there and she just told
me where it was.

Q. And then you said that you and || went

10
upstairs together?

A. Uh-huh.

Q. And | | stayed in there for the first few
minutes?

A. uh-huh.

Q. Was Jeffrey already in the room by the time
a | eft?

A. Yeah, he was in the room.

Q. Okay. Was he there when you guys showed up in

the room or did he come in after you were already there?

Q. And you said that you took your top off. Did
anybody ask you to take it off, Tike did i say it's
time for you to take it off?

A. No, she wasn't in the room.

Page 10

HOUSE_OVERSIGHT_012291
"
TEXT-001-HOUSE_OVERSIGHT_024374.txt,"﻿
         REMEMBERING CAVALIER MAGAZINE

LAUNCHING A MAGAZINE


     My friend Michael Simmons, who has been the editor of National Lampoon, recalls that Cavalier hired fine scribes. A few examples: Thomas Pynchon, Philip Roth, William Saroyan, Isaac Asimov, Theodore Sturgeon. Characters show up from Andy Warhol to Timothy Leary. And the photos of models weren’t even soft porn, merely tits and ass.


     Cavalier was launched by Fawcett Publications in 1952. Men’s magazine Cavalier (motto: “For the American Male”) was published the year before Playboy, to whom it has often been compared. Back in the day, Cavalier tried to be seen as slightly hipper, more youthful, and considered a bit more clever than its big name rival. Almost an anti-establishment in Playboy. A slogan stated: “Your dad bought Playboy; you bought Cavalier.”


I BECAME A COLUMNIST


     I was invited to write a column, named “The Naked Emperor,” for Cavalier, that was beginning to publish underground writers and artists. They paid me $1,000 a month. My first column, in 1964, was a report on an auction of two-inch squares from the hotel bedsheets slept on by the Beatles during their first trip to America.


     There were 300 screaming young girls, off on a fetishist’s holiday. Obviously, there wouldn’t be enough items to go around, but it was announced that the Beatles’ unwashed towels and bed linens were to be cut into two-inch squares and sold for $1 each. The price included a notarized statement of authenticity.


     My second column was about Lenny Bruce—titled “Lenny the Lawyer,” since he defended himself in trials He was arrested for obscene performances only because there were no blasphemy laws, and he ridiculed religious leaders. I went to the bank and deposited my check, withdrawing half of it in cash, a $500 bill. Lenny was alone in his funky hotel room on Christmas Day when I presented it to him. And, with a large safety pin, Lenny attached the $500 bill to the outside breast pocket of his dungaree jacket.


AFTER JFK ASSASSINATION


       In another column of mine, “Jack Ruby and His Dirty Little Secret,” it began, “Lenny Bruce once told me how all the night club comics used to gossip about Jack Ruby’s “tattoo of a lady’s schmutzik (translate: pussy) in his armpit.” If it weren’t a fact, I was quite willing to settle for an apocryphal allusion which nevertheless crystallized the entire personality of that alleged murderer who wanted so very much to be liked.


      I say alleged because upon Ruby’s own death. Dallas District Attorney Henry Wade said he would dismiss the murder charge against him, a promise which has since been kept, although no such posthumous grace was ever officially bestowed on Lee Harvey Oswald, considered a lone assassin who shot President Kennedy. See, they grant you retroactive innocence only in the face of innumerable witnesses who were present at the actual event through the legal miracle of inadvertent televised coverage.


     Now Jack Ruby’s dirty little secret has been forever sealed away in his armpit by the hymen of history. Oh yeah, and at Lenny’s funeral, that safety pin was still attached on his denim jacket.


JULES SIEGEL                      


       Two years before Lenny’s death, with his permission I published his obituary in my own magazine, The Realist. Before the issue went to press, he called his mother and a few others to let them know it would only be a hoax. The point was that he couldn't get work and his work was his life so he might as well be dead. And if people regretted that they hadn't helped him, well, now they could have a second chance because he was still alive. The obituary evoked inquiries from newspapers, wire services, foreign publications, radio and TV.


       “What's the meaning of it?” one editor asked me. “There's a lot of excitement at the city desk.”


       “That is the meaning of it.”


     A few years later, without my permission, Jules Siegel, the editor of a short-lived magazine, Cheetah, published a fake obituary of me. I thought it was funny. An Associated Press reporter called, and I explained that it was a hoax.


     “Are you sure?” he asked.


     “Of course. I would tell you if I was dead.”


     Siegel started writing for Cavalier. His first assignment was a profile of Sterling Hayden, an actor best known in Dr, Stranglove or How I Learned to Stop Worrying and Love the Bomb.


     Journalist Adam Ellsworth described Siegel’s “Goodbye Surfing, Hello God” with his most famous example of rock journalism, though his most revolutionary was his article, “The Big Beat.” It appeared in the Playboy-esque Cavalier magazine in 1965 and was one of the earliest writings he’d ever seen on the development of rock and roll, from slaves singing in chains on their way to America to Bob Dylan “going electric” at the Newport Folk Festival. 


     Then Jules’ friend, Arthur Kretchmer, became Cavalier’s managing editor. “When the editorial director later resigned,” Kretchmer said, “there was a 24-hour hiatus before the new editorial director arrived.” Siegel and Kretchmer had been discussing the possibility of publishing an issue on rock and roll, so to make it happen, Kretchmer went into the office at night and retyped the magazine’s schedule to include their ideas.


     When the new editorial director started, Kretchmer handed him the schedules and said, “Here’s what we’re working on.” The new editorial director suspected nothing and the rock and roll issue went ahead. Once the laughter died down, Jules talked for a good 25 minutes about some of the ups and downs of his writing career and how hard it is to make a living as any kind of a writer, let alone a “rock journalist.” and the people who created it, seriously.


     Now everybody writes about rock and roll that way. Jules was one of the people who did it first. He died of a heart attack on November 17, 2012 at the age of 77. He was a brilliant author, but neither Rolling Stone nor the New York Times honored him with an obituary. Not even a fake one.


COMIX


     Art Spiegelman tells me his work at Cavalier 50 years ago:


      I was first invited into the mag to do two full-color comix pages in 1969 (when being printed in color was a Very Big Deal for me as was Getting Paid more than 25 bucks for a drawing), somehow in proximity to a big article on underground comix. It was around the time Vaughn Bode was made a regular contributor to the magazine, They were running some Crumb “Fritz the Cat” pages. All thanks to their hip, laid back and kind editor, Alan LeMond.


     I also did some gag cartoons, short strips and occasional illustrations for Cavalier (one especially bad drawing for a story by Bruce Jay Friedman, I recall). My work as an apprentice underground cartoonist taking too many drugs was really, really awful. By the time I'd gotten incrementally better as a cartoonist in the first half of the 1970s I was regularly doing illustrations for soft-core fiction stories in Cavalier's low-rent sister mags, Dude, Gent and Nugget (even wrote a story or two there and got several of my San Francisco comix cronies -- Spain Rodriguez, Bill Griffith and Justin Greene) illustration gigs for those mags as well.


         [Note in Wikipedia: Maus is a graphic novel by American cartoonist Art Spiegelman, serialized from 1980 to 1991. It depicts Spiegelman interviewing his father about his experiences as a Polish Jew and Holocaust survivor. The work employs postmodernist techniques and represents Jews as mice, Germans as cats, and Poles as pigs. In 1992, Maus won a Pulitzer Prize.]


COMiING AND GOING          


     I wrote some movie reviews for Cavalier. I recall that Midnight Cowboy was 50 years ago. I always went to two screenings. The first one I would go stoned with magic mushrooms. The second one I took notes. However, I got fired by Cavalier.


     They declined to publish a particular column–-my review of MASH as though it were a Busby Berkeley musical called Gook Killers of 1970-– ostensibly on the grounds of bad taste, but I learned that three wholesalers had told the publisher they were pressured by the FBI and would refuse to distribute Cavalier if my name appeared in it.


     On top of that, my name was on a list of sixty-five “radical” campus speakers, released by the House Internal Security Committee. The blacklist was published in the New York Times, and picked up by newspapers across the country. It might have been a coincidence, but my campus-speaking engagement-bookings stopped abruptly. It felt just like a film.


OH, WELL


       It was over for me, but it had been fun—like the issue with only the one large red headline on the Cavalier cover: “BEAT ‘EM SENSELESS FIRST”—THE FREE SPEECH CONTROVERSY, BY PAUL KRASSNER...


     At the University of California in Berkeley on September 1964, Dean Katherine Towle banned posters, easels and tables at the Bancroft-Telegraph Street entrance to the Berkeley campus “because of interference with flow of traffic.” She also reminded student groups of “rules prohibiting the collection of funds and the University facilities for the planning and implementing of off-campus political and social action.”


     As a result, students held a sit-in lasted till 3 a.m. Next day, ten tables were manned again, and a campus policeman approached one of the tables (manned by the Congress of Racial Equality) where a dozen persons were seated. One was singled out and placed under arrest. But before you could say nonviolent demonstration, the police car was surrounded, its captors reaching as many as 3,000 students. During the late evening, bored fraternity men gathered and tossed lighted cigarettes and eggs on those sitting in the plaza. The demonstrators responded with silence.


       Next day, 450 police assembled on campus to remove the cop car and its arrested inhabitant, but an agreement to negotiate was reached and the demonstrators dispersed. One of the folk songs to come out of the Free Speech Movement was If I Negotiate With You to the tune of the Beatles’ If I Fell in Love With You.


       Over the next couple of months there was a series of sit-ins and attempted negotiations, and then, on December 2, the infamous Sproul Hall sit-in. It took twelve hours for 800 students to be arrested by some 600 instructors of a new course called Introductory Police Brutality. These were from the lab notes student took:


 “We should do like they do in them foreign countries—beat ‘em senseless first, then throw them in the bus.”


       There was a freshman co-ed at Berkeley who—long after she had forgotten what some professor spouted during an official lecture about Dostoevsky’s Crime and Punishment—would remember, with perhaps a twinge of frightened pride, learning from a fellow demonstrator that if she planned to go limp when the police arrested her, it would be an act of practical feminine foresight to remove the earrings from her pierced lobes in advance.


     So, now in 2019, fighting over free speech has been happening heavily at Berkeley campus again. Meanwhile, Trump grabbed the pussy of the Statue of Liberty. Cavalier, anyone?







"
IMAGES-008-HOUSE_OVERSIGHT_025551.txt,"Morgan Stanley | researcs NORTH AMERICA INSIGHT 2

January 30, 2018 05:01 AM GMT

Alternative Asset Managers

Can Alts Unlock Value with
C-Corp Conversions °

We think APO could unlock the most value by converting to a C-corp with 26%
in our upside case vs. -14% in our downside case. ARES could be the first to
convert, but this is largely priced in. These firms have more sticky management
fee-related earnings vs. BX/CG/KKR that may see Less benefit.

YD a .

<a
“

>

Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of
interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision.

For analyst certification and other important disclosures, refer to the Disclosure Section, located at the end of this report.

HOUSE_OVERSIGHT_025551
"
IMAGES-007-HOUSE_OVERSIGHT_023603.txt,"Options Risk Statement

Potential Risk at Expiry & Options Limited Duration Risk

Unlike owning or shorting a stock, employing any listed options strategy is by definition
governed by a finite duration. The most severe risks associated with general options
trading are total loss of capital invested and delivery/assignment risk, all of which can
occur in a short period.

Investor suitability

The use of standardized options and other related derivatives instruments are
considered unsuitable for many investors. Investors considering such strategies are
encouraged to become familiar with the ""Characteristics and Risks of Standardized
Options"" (an OCC authored white paper on options risks). U.S. investors should consult
with a FINRA Registered Options Principal. For detailed information regarding the risks
involved with investing in listed options:
http:/Avww.theocc.com/about/publications/character-risks.jsp

Price objective basis & risk

Deutsche Telekom (DTEGF / DTEGY, B-2-7, EUR17.42/US$19.45)
Our price objective for DT is EUR18.0/sh (US$19.62) and is derived from our Sum-of-
the-Parts analysis.

Each business is valued via DCF (except MtM for TMUS and OTE }) using a 7.0% WACC
and 1.00% terminal growth rate for Domestic and Western Europe assets (and 8.0%
WACC/1% term growth for Eastern Europe assets) and cross-checked using implied
valuation multiple analysis.

Our Domestic business valuation reflects DT's solid positioning in both fixed (FTTC
rollout) and mobile (superior network quality, integrated business model).

Upside risks to our PO are any asset sales (US, non-integrated assets in Austria or NL)
and revenue upside from T-Home's TV push.

Downside risks to our PO are higher than expected mobile impact coming from new
Drillisch tariffs or failure to turnaround good US operational trends into more profitable
revenue streams.

Analyst Certification

We, Benjamin Bowler, Clovis Couasnon and Frederic Boulan, CFA, hereby certify that the
views each of us has expressed in this research report accurately reflect each of our
respective personal views about the subject securities and issuers. We also certify that
no part of our respective compensation was, is, or will be, directly or indirectly, related
to the specific recommendations or view expressed in this research report.

Special Disclosures

BofA Merrill Lynch is currently acting as Financial Advisor to Royal Dutch Shell PLC in
connection with its proposed sale of its UK North Sea assets to Chrysaor LTD, which
was announced on January 31, 2017.

Bankof America

Merrill Lynch Global Equity Volatility Insights |O6 June 2017. 29

HOUSE_OVERSIGHT_023603
"
IMAGES-011-HOUSE_OVERSIGHT_030911.txt,"Thanks for getting back to me. I was asking because I found the quote shocking . . . the evidence against
Epstein is overwhelming and he's even pled guilty to paying for sex with a minor. It's in no way scientific or
rational to assume that because you never saw him with an underage girl he must actually be innocent. It is
possible for a person to be kind and generous with his friends but still a criminal paying for sex with
underage girls in his private life.

I'm going to write about the topic on Skepchick, and I'll include any additional statement you'd like if you
want to provide more context or if you've changed your mind.

-R

On Wed, Apr 6, 2011 at 12:50 PM, Lawrence Krauss i wrote:
yes it is.. Based on my direct experience with Jeffrey, which is all I can base my assessment on, he is a
thoughtful, kind, considerate man who is generous to his friends, and all of the women I have known who
have been associated with Jeffrey speak glowingly in the same words..

why are you asking?

On Apr 6, 2011, at 9:41 AM, Rebecca Watson wrote:

Dear Professor Krauss,

We met briefly after your talk in Ithaca a few months ago — I'm the girl on The Skeptics’ Guide to the
Universe podcast. I've really enjoyed your talks and books, but I was surprised to see you quoted in the
Daily Beast recently defending Jeffrey Epstein:
http://www.thedailybeast.com/blogs-and-stories/2011-04-01/bill-clinton-katie-couric-woody-allen-jeffrey-

epsteins-society-friends-close-ranks/2/

Can you confirm if the following quote is accurate?

""If anything, the unfortunate period he suffered has caused him to really think about what he wants to do
with his money and his time, and support knowledge,” says Krauss. ""Jeffrey has surrounded himself with
beautiful women and young women but they're not as young as the ones that were claimed. As a scientist I
always judge things on empirical evidence and he always has women ages 19 to 23 around him, but I've
never seen anything else, so as a scientist, my presumption is that whatever the problems were I would
believe him over other people."" Though colleagues have criticized him over his relationship with Epstein,
Krauss insists, ""I don't feel tarnished in any way by my relationship with Jeffrey; I feel raised by it.”

Thanks,
Rebecca Watson

Lawrence M. Krauss

Foundation Professor

Director, The ASU Origins Project
Co-Director, Cosmology Initiative
Assoc. Dir, Beyond Center
ARIZONA STATE UNIVERSITY
College of Liberal Arts and Sciences

HOUSE_OVERSIGHT_03091 1
"
IMAGES-002-HOUSE_OVERSIGHT_013337.txt,"46. On September 11, 2008, at the request of his client L.M.., Brad Edwards filed a civil
sot against Jeffrey Epstein to recover damages for his sexual assault of L.M. See Complaint,
LM. v. Epstein, (Exhibit “V”).

3 47. Jane Doe’s federal complaint indicated that she sought damages of more than
$50,000,000. Listing the amount of damages sought in the complaint was in accord with other
civil suits that were. filed against Epstein (before any lawsuit filed by Edwards). See Complaint,
J ane Doe #4 v. Epstein (Exhibit “W”) (filed by Herman and Mermelstein, PA).

48. At about the same time as Edwards filed his three lawsuits against Epstein, other
civil attorneys were filing similar lawsuits against Epstein. For example, on or about April 14,
2008 another law firm, Herman and Mermelstein, filed the first civil action against Epstein on
behalf of one of its seven clients who were molested by Epstein. The complaints that attorney
Herman filed on behalf of his seven clients were similar in tenor and tone to the complaint that
Edwards filed on behalf of his three clients. See id.

| 49. Over the next year and a half, more than 20 other similar civil actions were filed by
various attorneys against Epstein alleging sexual assault of minor girls. These complaints were
also similar in tenor and tone to the complaint that Edwards filed on behalf of his clients. These
complaints are all public record and have not been attached, but are available in this Court’s files
and the files of the U.S. District Court for the Southern District of Florida.

| 50. In addition to the complaints filed against Epstein in Florida, a female in New York,
Ava Cordero, filed a lawsuit against Epstein in New York making similar allegations - that
Epstein paid her for a massage then forced her to give him oral sex and molested her in other

ways when she was only 16 years old. Cordero was born a male, and in her complaint she
19

HOUSE_OVERSIGHT_013337
"
IMAGES-001-HOUSE_OVERSIGHT_010486.txt,"-TERSON
= Epstein’s Palm Beach

property, 358 El Brillo
Way (© Chris Bott /

1 don't see what it adds to the
q Splash News / Corbis)

”

‘py.
estigation had taken place, that

3ut, at that time, no criminal
“irs had been launched. And in

the rumors of Epstein's dealings

1 to be just that—rumors.

s, his editors, and his
One of the photographs

captured on video during the
Palm Beach Police Department
search warrant walk-through
of Epstein’s El Brillo Way
residence (Palm Beach Police

Department)

his lawyer
ing odd and disturbing happened

-n in Times Square.

to the office early. He swiped his
button, and arrived in
wenty-first floor.

the elevator
ion area on the t

ct time to review Ward's story.
s said to ©

n’s town house — which i
residence in New York City at the F
>, amid the flurry of menservants |
ne white gloves, you feel
e Xanadu,” she'd :
put a high-walled;
o boundarie
t with ra

| Jeffrey Epstein’s 1969 high school
yearbook photo (Lafayette High
School, Brooklyn, New York, 1969)

and pristi
ieone’s privat
person’s home,
that seems to have n
ed not with paintings bu
d eyeballs; these, the ow
d from England, where
mes a marble foyer, W ic
n Dubuffet.. but tb
d it. In any q

pak BER

aa

me ner telh

nporte
rs. Next co
> manner of Jea
visitors who painte

4 petirey Epstein, Coney Island
circa 1969 (Anonymous)

HOUSE_OVERSIGHT_010486
"
IMAGES-006-HOUSE_OVERSIGHT_022154.txt,"_ Fretuy Ricu
ATTERSON

A: No. I took note of names, but not really notes of the sub-
stance, no.

Q: Have you ever made notes with regard to the substance of
any communications that you allegedly had with Rebecca

ty phone conversations [you had] sisi or Michael?

A: I didn’t “allegedly” have these conversations. I had these con-

tween six and ten, maybe closer | versations. And I don’t recall taking notes of those conversa-
: 5 .

s] she called me, and after I got tions.

number of times.

e?

e from hers, but again. 10:44 a.m.

Q: How many phone calls did you have with this person Rebecca

seach, in the Palm Beach area. They
Roberts since she was a young child.
to any of these phone conversa-

Michael, and you?

before she informed you as to the reason why she was call-
ing you?

She informed me the first time.

: The very first conversation.

Yes.

: How many phone calls was it before she asked you for money?

_ 7 She never asked me for money.
ation occur?

cific information about that. But it i
e story was in the newspapers, she ©
ire story to me and related to me

Orroroo eS

: How many phone calls was it before her husband asked you
for money?

>

: Iwas never asked for money, ever.

OQ

: Do you know how it is that these people knew how to con-
tact you?

ve extortion plot.

A: They told me they went to my website and got my number
| and left a message for me to call. Yeah, that’s what happened.
Oh, no; they sent me—they went on my website and sent me

us notes of those phone conver an e-mail and asked me—and the e-mail had a blank name
neo 3

A

but a way to respond. And so I responded with my phone

257
256

HOUSE_OVERSIGHT_022154
"
IMAGES-001-HOUSE_OVERSIGHT_011940.txt,"Expand

Jeffrey Epstein, the billionaire financier who the FBI believes molested around 40 underaged
girls, was assisted by a prominent modeling agent and scout. Here's what we know about Jean
Luc Brunel.

Jeffrey Epstein, you will no doubt recall, is the man who thought ferrying Bill Clinton on his
private jet, lawyering up with superstar Alan Dershowitz, and making frequent $100,000
donations to the Palm Beach Police Department would insulate him from prosecution for his
various depravities.

Say you're not as famous or celebrated as Roman Polanski and you want to sexually
assault...Read more

Which included, for the record: buying a 14-year-old Yugloslavian named Natalia Marcinkova
from her parents in order to keep Marcinkova as his ""sex slave""; paying a retinue of women to
trawl Palm Beach for teenagers economically desperate enough to agree to give Epstein
""massages"" that often led to sexual contact; receiving two 12-year-old French girls as a ""birthday
present""; and befriending Michael Wolff.

But as Conchita Sarnoff wrote at The Daily Beast:

Perhaps most disturbing, in terms of possible sex trafficking, was Epstein's relationship with Jean
Luc Brunel, owner of the MC2 modeling agency. According to a complaint filed in the U.S.
District Court for the Southern District of Florida, an alleged victim said that Epstein, [assistant
and girlfriend Ghislaine] Maxwell, Brunel, [house manager Alfredo] Rodriguez, and Marcinkova
‘deliberately engaged in a pattern of racketeering that involved luring minor children through
MC2, mostly girls under the age of 17, to engage in sexual play for money.

The FBI investigated Epstein, and identified around 40 underaged victims. Sarnoff reports that
the FBI is also investigating MC2 and Brunel for possibly engaging in child sex trafficking.
Since pleading guilty to reduced charges of soliciting sex with a minor and serving 13 months of

20

HOUSE_OVERSIGHT_011940
"
TEXT-001-HOUSE_OVERSIGHT_026563.txt,"From: Boris Nikolic 
Sent: 5/7/2012 11:27:15 PM 
To: Jeffrey Epstein (jeeyacation@gmail.com) [jeeyacation@gmail.com] 
Subject: FW: Zeitplan amfar Gala 19.5.2012 
Importance: High 
is my friend there who will host us. She is very close friend with as well. 
and I are still trying to get to join at the last moment. 
She and her family own 80% or so of Austrian media (Heute etc). She is describing program below. 
The plan would be that we arrive to Vienna on Thursday 17th mid day. 
On Thursday there is a big Premiere of Mozart La Clemenza de Tito and we go to that. 
ON Friday •is organizing a dinner/reception with her friends. We can schedule some other 
meetings/visits during day. 
On Saturday the night starts at 5pm and goes through early next morning. 
I leave first flight Sunday morning for San Francisco to meet Bill. 
If you are staying in Vienna and have time (and like you should go to her brunch. 
How this seems to you??? 
Original Messaae 
From: 
Sent: Monday, May 07, 2012 5:51 AM 
To: 'Cavan Mahony'; Boris Nikolic; 
Subject: WG: Zeitplan amfar Gala 19.5.2012 
Hallo everybody! 
Attached (sorry in Germain) the Programm fort he lifeball on the 19th. 
Actually there will be a Galadinner with our prime minister and Bill Clinton and all kinds of stars in 
the Hofburg (former Imerial estate - very impressive to see from inside)) It is only 250 people,. A 
seated dinner and more upscale than the rest oft he evening. It start's at 5pm with a Champagne cocktail 
and from there we go directly to the opening oft he ball where we'll have a really cool Box first row!! 
Dresscode: actually the lifeball is really crazy and 'half naked' We always do a intermediare because 
otherwise you feel like an idiot at the Amfar Gala dinner before. People now don't wear Tuxedos anymore. 
Christoph wear's normal black trouseres with a white shirt and a dar sakko because he doesn't want to be 
in any crazy stuff on all the pics. Half oft he people oft he gala dinenr also waer some 'little' crazy 
stuff like pink velvet sakkos (and a mask for later) or so. girls: Crazy as you like. There are a lot of 
atrists that are really dressed up. I will wear a quiet see-through short dress with high high heels+ a 
chanel Tatoo and will take a face mask fort he ball later. 
So I hope this helped at least a little bit. For pics got to: lifeball.org 
Friday night: We would like to invite you all for dinner and will organize a nice place with a cool bar. 
Aress follows. Pls let me know who wants to join!! 
Sunday: I'm very sure we'll be dead :-) BUT we would like to invite you to our house/garden/pool 
(swimmwear) for brunch starting at 11. Furfanggasse 4, 1190 Wien. From hotel Sachen max. 15 min with 
Taxi. If you fly late we can walk from our house to one oft he famous Austrian heurigen ...and get some 
more alcholic to drink :-) :-) 
On Thursday there is a big Premiere of Mozart La Clemenza de Tito. Very hard to get tickets but for 2 of 
you I could still organize (hopefully9 if some of you already arrive on Thursday. 
Big kiss to everbody...I promise you...not often you will have seen something that crazy :-) 
HOUSE OVERSIGHT 026563 
Herausgeberin 
Heute - Kein Morgen ohne Heute 
AHVV Verlags GmbH 
Heiligenstadter Lande 29/Top 6 
1190 Wien 
T: 
F: 
www.heute.at 
-----Ursprungliche Na ""g'1""-
VOn: Manuela Wieland 
Gesendet: Montag, 07. mai_____________________________________LUIZ 13.45 
An: 
Betreff: Zeitplan amfar Gala 19.5.2012 
Liebe Frau Dichand, 
anbei der Zeitablauf von der AMFAR Gala 2012 am 19.5.2012. 
LG MW 
HOUSE OVERSIGHT 026564 
"
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Global Cross Asset Strategy - Year Ahead | 30 November 2016

27

HOUSE_OVERSIGHT_014458
"
IMAGES-008-HOUSE_OVERSIGHT_026058.txt,"3) Schedule (weekly)

Please confirm receipt.

I'll be in New York from January 19 until about February 8. Love to meet - on Sleep/Dreams and all sorts of

fun stuff to cheer our 2017.

Robert

<Closer To Truth - The Science of Sleep & Dreams —- CTT TV Episodes & Web Videos - Jeffrey Epstein VI
Foundation - 1.10.17.docx><Closer To Truth - The Science of Sleep & Dreams - Series Budget -
1.10.17.xls><Closer To Truth - Sleep and Dreams - Series Schedule-Timeline - 1.9.17.xlsx>

please note
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Unauthorized use, disclosure or copying of this
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HOUSE_OVERSIGHT_026058
"
IMAGES-010-HOUSE_OVERSIGHT_030380.txt,"Visit theguardian.com. On your mobile and tablet, download the Guardian iPhone and Android apps
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HOUSE_OVERSIGHT_030380
"
IMAGES-001-HOUSE_OVERSIGHT_011798.txt,"/ BARAK / 41

control of something like 40 percent of the West Bank. That meant — at least in
theory — that Israel could limit phase-three to a mere token pullout, leaving the
Palestinians with less than half of the territory.

“T don’t know what percentage, exactly,” I replied. “But one of my cabinet
ministers thinks that a formula of 70-10-20 would work, meaning 70 percent for
the Palestinians, ten percent to allow us to retain and secure the largest of the
settlement blocs, and the rest to be worked out in further talks.”” When he nodded, I
added: “Peres thinks it could end up at 80-20, and says he thinks Arafat would find
it hard to walk away from getting control of four-fifths of the West Bank. But it’s
not about the number. It’s about the area needed for the major settlements, and
whatever else is required to safeguard our security. Beyond that, we don’t need a
single inch of the West Bank, and we won’t ask for a single inch.”

I replied in much the same vein when President Clinton urged me to help kick-
start new talks with Assad by formally reaffirming Yitzhak’s “pocket deposit” on
the Golan Heights. As with the Palestinians, I was not going to cede a major
negotiating card — our only real negotiating card — before we had any indication
Assad was serious about making peace. But I did feel it was necessary to reassure
Clinton that / was serious. I told him that, if and when the Syrians showed real
signs of readiness to address our needs in a peace agreement, I would reaffirm the

“pocket deposit.”

I’d come to Washington hoping that President Clinton would be with me on the
main issues of substance. But what I needed most at this point was his support on
the procedural decisions I’d made in order to get to real peace negotiations:
engaging with Syria first, and shifting the emphasis on the Palestinian track away
from the redeployments toward the core permanent-status issues we’d have to
resolve in order to get a peace agreement. What emerged from my first meetings
with President Clinton was essentially a trade-off. He knew I would be ready to
make concessions in pursuit of genuine peace. I was confident that on the route
that I was proposing to take, he would have my back.

But what I couldn’t be sure of was whether my own government would have
my back. On paper, we had a comfortable Knesset majority: 75 out of the 120
seats. But I knew it was inherently vulnerable, both to friction between the
Orthodox parties and assertively secular MKs from Meretz and inside Labor, and
to possible defections over the concessions we might have to consider in peace

327
HOUSE_OVERSIGHT_011798
"
IMAGES-010-HOUSE_OVERSIGHT_029809.txt,"American policymakers may counter that
Iran would never be foolish enough to
threaten or use nuclear weapons against
the United States, given its robust nuclear
deterrence posture. But the threat or use
of nuclear weapons might not look so
foolish from Iran's perspective. One of
the great strategic lessons drawn from the
long history of conflict in the Middle East
is this: Do not go to war without nuclear
weapons, as Saddam Hussein did when
he invaded Kuwait. The corollary is: Do
not allow the United States to
methodically build-up forces in the Gulf
prior to invading, as Saddam did both in
the run-up to the 1991 re-conquest of
Kuwait and in 2003, before the drive to
topple the regime in Baghdad.

Drawing upon these lessons, Iran will
likely do everything in its power to deny
the United States the ability to surge
conventional forces into the region -- and
that might include threatening to target
U.S. forces with nuclear weapons. Iran
might accept the risk that preemptive use
of nuclear weapons could bring on
American nuclear retaliation, because
failure to do so would mean certain
destruction for the regime. The United
States would be able to build-up
conventional forces in the region and oust
Iran's leaders just as it did in Baghdad.

This line of strategic reasoning runs
counter to conventional wisdom in the

HOUSE_OVERSIGHT_029809
"
IMAGES-001-HOUSE_OVERSIGHT_010492.txt,"Epstein’s longtime pilot, Larry Visoski, i
(9 was at the controls as Epstein's
3} Gulfstream left Teterboro Airport in
New Jersey, January 2016. (Jae Donnelly) q

reseen ©
central }
release &
juit his
iltrade #4
World) —

Stephen Hawking, photographed
in March 2006 aboard an Atlantls
‘submarine that was custom-fitted
¢ by Epstein to accommodate his 4
Sol wheelchair. Hawking was atten:
/ 88 the conference “Confronting Grav
“a workshop to explore fundamen
questions in physics and cost
sponsored by the J. Epstem Vig
Foundation and the Center for
Education and Research if C
@ and Astrophysics (CERCA) al
# Western Reserve Univers
Carlton, St. Thomas, USVI: a
CERCA, Case Western Universtiy

4 Nadia Marcinkova, Michele
Tagliani, Sarah Kellen, and Teala
Pavies, photographed at the New
| York Academy of Art’s Tribeca

Ball, April 14, 2004 (Rob Rich /

A framed photo of Florida governor
Charlie Crist and Scott Rothstein in
Rothstein's office in Fort Lauderdale,
autographed by Charlie Crist: Scott-—
You are amazing! Charlie Crist
(Carline Jean © Sun Sentinel / ZUMA-
PRESS.com)

Epstein’s current residence, the J
storied building formerly known §
as the Herbert N. Straus Mansion,
on East 71st Street just off Central Be
Park, was acquired by Leslie ji
Wexner in 1989. (Laura Hanifin)

Epstein, a longtime benefactor, with
an unidentified friend, attended the
W 2014 New York Academy of Art’s
Tribeca Ball, presented by Van Cleef
& Arpels, at the New York Academy
of Art on April 7, 2014, in New York
City. (Billy Farrell / BFAnyc.com)

SocietyAllure.com)

HOUSE_OVERSIGHT_010492
"
IMAGES-002-HOUSE_OVERSIGHT_013323.txt,"6. At all relevant times Edwards has had a good faith basis to believe and did in fact
betieve that, more specifically, Epstein's attorneys knew of Epstein's scheme to recruit minors for
Sex and also knew that these minors had civil actions that they could bring against him. In fact,
there was much communication between Epstein's attorneys and the United States Prosecutors in
a jgint attempt to minimize Epstein's civil exposure. For example, on October 3, 2007, Assistant
U.S. Attorney Marie Villafafia sent an email (attached hereto as Exhibit “D’’) to Jay Lefkowitz,
counsel for Epstein, with attached proposed letter to special master regarding handling numerous
expected civil claims against Epstein. The letter reads in pertinent part,

""The undersigned, as counsel for the United States of America and
Jeffrey Epstein, jointly write to you to provide information relevant to your
service as a Special Master in the selection of an attorney to represent several
young women who may have civil damages claims against Mr. Epstein. The
U.S. Attorney's Office and the Federal Bureau of Investigation (jointly referred
to as the ""United States"") have conducted an investigation of Jeffrey Epstein
regarding his solicitation of minor females in Palm Beach County to engage in
prostitution. Mr. Epstein, through his assistants, would recruit underage
females to travel to his home in Palm Beach to engage in lewd conduct in
exchange for money. Based upon the investigation, the United States has
identified forty (40) young women who can be characterized as victims
pursuant to 18 USC 2255. Some of those women went to Mr. Epstein's home
only once, some went there as much as 100 times or more. Some of the
women's conduct was limited to performing a topless or nude massage while
Mr. Epstein-masturbated himself. For other women, the conduct escalated to
full sexual intercourse. As part of the resolution of the case, Epstein has
agreed that he would not contest jurisdiction in the Southern District of Florida
for any victim who chose to sue him for damages pursuant to 18 USC 2255.
Mr. Epstein agreed to provide an attorney for victims who elected to proceed
exclusively pursuant to that section, and agreed to waive any challenge to
liability under that section up to an amount agreed to by the parties. The parties
have agreed to submit the selection of an attorney to a Special Master...""

7. At all relevant times Edwards has had a good faith basis to believe and did in fact

believe that L.M. was, in fact, a victim of Epstein’s criminal abuse because L.M. was one of the

5

HOUSE_OVERSIGHT_013323
"
IMAGES-006-HOUSE_OVERSIGHT_022140.txt,"Fittay Ricu

PATTERSON
never been in the same place with Alan Dershowitz also goes on the attack. Virginia’s claims
y up out of whole cloth.” are part of a plot to extort him, he claims. The motion that
:ady become involved in lawsuits Edwards and Cassell have filed is “the sleaziest legal document”
‘king with a former federal judge he’s ever seen.
yfessor named Paul Cassell, he had “They manipulated a young, suggestible woman who was
iother unnamed woman. Six years | interested in money,” Dershowitz says. “This is a disbarrable
ig, and now, Edwards and Cassell | offense, and they will be disbarred. They will rue the day they
sanutttcecel ever made this false charge against me.” It’s a vehement denial.
ake part in oe lawsuit. | | ’ But then, the allegations made by Virginia Roberts, on January
berts, the girl who says that Ghis- Tt 15, 2015, in a declaration filed against the government in an
r for Epstein at Trump's resort, 9 attempt to overturn Jeffrey Epstein’s non-prosecution agreement
are highly disturbing. |

id other young girls to prominent
iticians, world leaders, and other
gratiate himself with them for busi-

financial gain, as well as to obtain

arts claims.
sed her and other underage girls to r
rgin Islands. 3
vy and Alan Dershowitz as two of the §
ave sex with and claims that Der
itness to the sexual abuse of many
several of Epstein’s co-conspirators.
wv does respond to the allegations. ¥
ding and ongoing civil proceedings
ch the Duke of York is not a party,”
short statement. “As such we woul
owever, for the avoidance of doubl

ty with underage minors is categou

HOUSE_OVERSIGHT_022140
"
IMAGES-001-HOUSE_OVERSIGHT_011954.txt,"http://files.wallstreetfolly.com/wordpress/2007/10/jeffrey-
epstein-doesnt-want-to-be-branded-as-a-sex-offender-for-
life-and-no-hes-not-a-modeling-agency-secret-sugar-daddy-
or-so-its-owners-say/

Jeffrey Epstein doesn’t want to be branded as a “sex
offender” for life, and no, he’s not a modeling agency secret
sugar daddy (or so its owners say)

Posted by WSF On October - 9 - 2007

Jeffrey Epstein, the billionaire money manager who’s agreed to plead guilty to soliciting
underaged hookers and go away for 18 months, doesn’t want to be branded a ""sex offender"" for
life. Page Six says his lawyers are thinking about asking prosecutors to drop that requirement
from his plea agreement:

In a letter drafted, but not sent, to U.S.

Attorney Alexander Costa and obtained by Page Six, Epstein’s lawyer, Gerald
Lefcourt, writes, ""Doing so will have a profound impact [on Epstein] both
immediately and forever after. Not only will he be restricted to a wholly
inappropriate penal facility, but he will be required for the rest of his life

to account for his whereabouts.”

Meanwhile, over the weekend Page Six said that owners of MC2 modeling, run by Jean-Luc
Brunel — who’s also been accused of favoring underaged models in the past — claim that
Epstein is not the secret deep pockets behind the firm, no matter what others say or speculate.

43

HOUSE_OVERSIGHT_011954
"
TEXT-001-HOUSE_OVERSIGHT_030315.txt,"From: Matthew Hiltzik 
Sent: 12/15/2018 6:40:52 PM 
To: Michael Wolff 
CC: Jeffrey Epstein [jeeyacation@gmail.com]; Kathy Ruemmler 
Subject: Re: 
Darren Indyke 
Also think there should be a line in there somewhere which clearly confirms that JE understands and recognizes 
that he did something wrong 
Sent from my iPhone 
On Dec 15, 2018, at 12:03 PM, Michael Wolff < > wrote: 
Seems very good. Is there reason or opportunity here to evoke JE's Clinton connection? He had been publicly 
connected to the former President and became a proxy for the considerable anger at high levels of the Federal 
government that still surrounded Clinton. Likewise now, one reason to revive the story is that it is a way to tar a 
Trump administration official, who, in the normal course of his duties, happened to deal with the case. 
On Sat, Dec 15, 2018 at 11:28 AM J <jeevacation@gmail.com> wrote: 
thoughts. 
----------Forwarded message--------- 
From: Ken Starr < 
Date: Sat, Dec 15, 2018 at 11:24 AM 
Subject: Re: 
To: J <jeevacation@gmail.com> 
Cc: Alan Dershowitz < 
Here goes: 
""Sweetheart deal! "" So goes the critique of the resolution of a long-ago case involving our former client -- and 
now-friend -- Jeffrey Epstein. The critique is profoundly misplaced, supported neither by the law or the facts, 
nor by the structure of our constitutional republic. To the contrary, Jeffrey was subjected to an unprecedented 
federal intrusion into a quintessentially local criminal matter in south Florida. His offense to the social order --
involving sex for hire -- was entirely a matter entrusted to laws of the several States, not the federal 
government. His conduct -- a classic state offense --was being treated exactly that way by able, honest 
prosecutors in Palm Beach County, but the overweening federal government intruded where it did not 
belong. And now, over ten years after the fact, the current assault on federal decision-makers at the time, 
including now-Secretary of Labor Alex Acosta (then the United States Attorney in south Florida), condemns 
the federal authorities for not going far enough. 
The critics are entirely wrong. Neither the facts nor the law support the misguided criticisms being leveled by 
journalists and politicians at federal officials from over a decade ago -- including the highest levels of the 
Justice Department in Washington, D.C.. 
Here are the key facts: Jeffrey Epstein, a successful self-made businessman with no prior criminal history 
whatever, engaged in illegal conduct that amounts to solicitation of prostitution. That was wrong, and it was 
reasonably viewed as a violation of Florida state law. Although no coercion, violence, alcohol, drugs and the 
like were involved, the unsavory facts were carefully assessed by experienced state prosecutors who 
HOUSE OVERSIGHT 030315 
aggressively enforce state criminal laws. No one turned a blind eye to potential offenses to the public 
order. To the contrary, the Palm Beach State Attorney's Office conducted an extensive 15-month 
investigation, led by the chief of the Sex Crimes Division. Mr. Epstein was then indicted by a state grand jury 
on a single felony count of solicitation of prostitution. 
During that intense investigation, the state prosecutors extensively gathered and analyzed the evidence, met 
face-to-face with many of the asserted victims, considered their credibility -- or lack thereof -- and considered 
the extent of exculpatory evidence. Then, after months of elaborate negotiations, the state prosecutors believed 
they had reached a reasoned resolution of the matter that vindicated the public interest -- a resolution entirely 
consistent with that of cases involving other similarly-situated defendants. 
Then, in came the feds. The United States Attorney's Office tried, to no avail, to fit Mr. Epstein's situation into 
its vision of what it viewed as a commercial trafficking ring targeting minors. This was anything but. At long 
last, the federal authorities acknowledged that stark reality and grudgingly agreed to defer prosecution to the 
state. But there was a huge catch. In the face of our arguments sharply condemning their overreach, the 
federal prosecutors insisted on many unorthodox requirements that tugged at fundamental values of due 
process. For example, the agreement required Mr. Epstein to pay an undisclosed list of asserted victims 
$150,000 each. Even more, the feds insisted that Jeffrey pay for an attorney to represent such unidentified 
victims if any chose to filed civil litigation against him. When asked what possible legal authority supported 
this extravagant exercise of national power, the feds lamely cited a wildly inapposite case from Alaska 
involving cocaine and forced on-the-street prostitution. Apples and oranges. 
Under the federally-forced deal, Jeffrey was sentenced to jail. That would not have been the case under the 
agreed-upon state disposition of this non-violent, consensual commercial arrangement. Jeffrey complied, 
served that sentence, and in the process was treated exactly the same as other state-incarcerated 
individuals. His conduct was exemplary, and so characterized by the state custodial authorities. He continued 
his work, including his many philanthropic efforts. 
Our friend Jeffrey Epstein has paid his debt to society. He has also paid out millions of dollars to the asserted 
victims and their highly-creative lawyers. For over ten years, he has lived an exemplary life, including 
carrying on his wide-ranging philanthropies. Those of us who represented him in the Florida proceedings -- for 
customary professional fees -- now count him as a trusted friend. 
Our nation faces vitally important challenges, many involving the treatment of women and basic human 
dignity. Voices are rightly being raised speaking truth to power, especially about women in the 
workplace. But Jeffrey, an exemplary employer, has long since been called to account by the criminal justice 
system for his misdeeds of yesteryear. In the spirit of the bedrock American belief in second chances, that 
unhappy chapter in Jeffrey's otherwise-magnificent life should be allowed to close once and for all. 
On Thu, Dec 13, 2018 at 4:24 PM J <jeevacation@gmail.com> wrote: 
ken ,would take a stab at the article for the law journal. ? thx 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
HOUSE OVERSIGHT 030316 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030317 
"
IMAGES-010-HOUSE_OVERSIGHT_030394.txt,"Over crests and furrowed field
Wirey talons arching back
Empty roosts the plagued aspise
Revel in their bloodied eyes

We fight on.

From: Jes Staley
Date: Wed, 10 May 2017 at 22:58
Subject: RE: The fool doth think he is wise

To: <john.mcfarlane.barclays@gmail.com>
Thanks for sharing the foxhole.

Best

Jes

Landon Thomas, Jr.
Financial Reporter
New York Times

http://topics.nytimes.com/top/ reference/timestopics/people/t /landon_jr_thomas/index.html

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030394
"
IMAGES-007-HOUSE_OVERSIGHT_024178.txt,"Disclaimer

This document has been prepared by UBS AG, its subsidiary or affiliate (""UBS""). The information is intended as a general market commentary and provided solely for marketing and information
purposes. Opinions expressed herein are those of UBS Wealth Management & Swiss Bank's Chief Investment Office. The information does not constitute UBS financial research. The statutory regulations regarding
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advice.

Specific investment objectives, financial situation or particular needs of a recipient are not considered in this document. Tax treatment depends on the individual recipient's circumstances and may be subject
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or clients may adopt long or short positions or deal as principal or agent in relevant securities or may have a relationship with and provide financial services to issuers of relevant securities that are linked to the subject
matters discussed in this publication. Please note that all investments carry a certain degree of risk. The market in certain securities may be illiquid. Investments may be subject to sudden and large falls in value and on
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covered by the UK regulatory regime or the Financial Services Compensation Scheme. © UBS 2012. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved

36 UBS .

HOUSE_OVERSIGHT_024178
"
IMAGES-006-HOUSE_OVERSIGHT_020757.txt,"#34

HOUSE_OVERSIGHT_020757
"
IMAGES-008-HOUSE_OVERSIGHT_024883.txt,"COWEN
COLLABORATIVE INSIGHTS February 25, 2019

Amazon Has A Modest But Expanding Physical Footprint

For CBD companies, expansion through Amazon’s retail locations and more importantly
Whole Foods’ expanding retail footprint are also attractive avenues for reaching new
customers (assuming CBD companies can convince Amazon and Whole Foods to carry
their products). While we currently lack insight into when CBD products may become
available in Whole Foods stores, or what a regional or national rollout might look like,
below we analyze Amazon’s physical footprint to highlight the potential for distribution.

Amazon’s expanding physical footprint is made up of a small number of Go Stores,
Amazon Fresh Grocery Pickup in Seattle, Amazon Branded Book Stores and most
notably its Whole Foods Market business. Whole Foods is a health focused supermarket
chain based out of Austin TX that operates ~470 US locations and was purchased by
Amazon in Aug ’17. Since acquiring Whole Foods, Amazon has deeply integrated it with
the company’s Prime offering. In combination with Amazon’s Prime Now platform,
Whole Foods is now offering 2-hour delivery on thousands of in-store items in 63 cities,
which account for over 50% of the US population and over 2/3rds of US GDP. Whole
Foods also offers curbside pickup in over 20 markets.

Figure 112 Amazon Prime Now & Same Day Delivery Top 50 US Metro Areas By 2017 GDP (%}

2017 GDP s % of ‘17 % of '17 US Amazon Prime Now AmazonPrimeFreeSame- WFM Delivery via
U.S. Metropolitan Areas . : . .
Rank Us GDP Population Available Day Delivery Prime Now
1 New York-Newark-Jersey City, NY-NJ-PA. 9.8% 6.2% v v v
2 Los Angeles-Long Beach-Anaheim, CA 5.9% 41% v v v
3 Chicago-Naperville-Elgin, IL-IN-WI 3.9% 2.9% v v v
4 Dallas-Fort Worth-Arlington, TX 3.1% 2.0% v v v
5 Washington-Arlington-Alexandria, DC-VA-MD-WV 3.0% 1.9% v v v
6 San Francisco-Oakland-Hayward, CA. 2.9% 2.2% v ce v
7 Houston-The Woodlands-Sugar Land, TX 2.8% 14% v v v
8 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD. 2.5% 1.9% v v v
9 Boston-Cambridge-Newton, MA-NH 2.5% 1.5% v v v
10 Atlanta-Sandy Springs- Roswell, GA 2.2% 1.7% v v v
11 Seattle-Tacoma-Bellevue, WA 2.0% 18% v v v
12 Miami-Fort Lauderdale-West Palm Beach, FL 2.0% 1.1% ¥ vo ¥
13 San Jose-Sunnyvale-Santa Clara, CA. 16% 1.1% v v
14 Detroit-Warren-Dearborn, MI 15% 13% v
15 Minneapolis-St. Paul-Bloomington, MN-WI 15% 0.6% v v v
16 Phoenix-Mesa-Scottsdale, AZ 14% 1.0% v v v
17 San Diego-Carlshad, CA 13% 14% v v v
18 Denver-Aurora-Lakewood, CO 12% 09% ve e %
19 Baltimore-Columbia- Towson, MD 11% 0.9% v v v
20 Charlotte-Concord-Gastonia, NC-SC 10% 0.7% v v v
24 Portland-Vancouver- Hillsboro, OR-WA 10% 0.9% v v v
22 St. Louis, MO-IL 0.9% 0.7% aa
23 Riverside-San Bernardino-Ontario, CA 0.9% 14% a
24 Austin-Round Rock, TX 08% 0.7% oS v
25 Pittsburgh, PA 0.8% 0.6% v
26 Tampa-St. Petersburg- Clearwater, FL 0.8% 0.9% v v v
27 |ndianapolis-Carmel-Anderson, IN 0.8% 0.6% v v v
28 Cleveland- Elyria, OH 0.8% 0.7% v v
29 Cincinnati, OH-KY-IN 08% 0.6% ¥ v P
30 Columbus, OH 08% 0.6% v v v
34 Nashville-Davidson--Murfreesboro--Franklin, TN 0.8% 0.7% v v v
32 Orlando-Kissimmee-Sanford, FL 0.8% 0.6% v v v
33 Kansas City, MO-KS 0.7% 0.7% v v
34 San Antonio-New Braunfels, TX 07% 0.6% ¥ F ¥
35 Sacramento--Roseville--Arden-Arcade, CA 07% 0.7% ve % ae
36 Las Vegas-Henderson-Paradise, NV 0.6% 0.6% v v v
37 Milwaukee-Waukesha- West Allis, WI 0.6% 0.5% v v v
38 Bridgeport-Stamford-Norwalk, CT 0.6% 0.3%
39 Virginia Beach-Norfolk-Newport News, VA-NC 0.5% 0.5% v v
40 Hartford-West Hartford-East Hartford, CT 05% 04% te
41 Salt Lake City, UT 0.5% 04% v v
42 Raleigh, NC 0.5% 0.5% v v v
43 Providence- Warwick, RI-MA 05% 04% v
44 Richmond, VA 05% 04% ve a oe
45 New Orleans-Metairie, LA 05% 04% Me
46 Jacksonville, FL 0.4% 04% a a
A? Louisville/Jefferson County, KY-IN 0.4% 04% v v
48 Oklahoma City, OK 0.4% 04% v v
49 Memphis, TN-MS-AR 0.4% 0.4% v
50 Urban Honolulu, HI 04% 04%
Total 72.6% 54.0% 34 40 46
Amazon Prime Now Markets 62.3% 44.8%
Amazon Same Day Delivery Markets 66.0% 48.6%
Whole Foods Delivery via Prime Now Markets 69.2% 50.9%

Source: Company reports, Cowen and Company, US Bureau of Economic Analysis

COWEN.COM 67

HOUSE_OVERSIGHT_024883
"
IMAGES-001-HOUSE_OVERSIGHT_012285.txt,"fo™

oOo oN DO MW BB WN Bf

10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

2007-04-25 | ba

4

class?

.

Q. Okay.

A. I had got my GED.

Q. when did you get that?

A, About three months ago.

Q. And are you going to college anywhere
currently?

A. Not right now.

Q. Plans?

A. I have plans.
BY MS. BILAFONIA:

Q. where are you thinking about going?

A. I'm not positive what I want to do. There's a

lot of things on my mind, but right now I'm focusing on
my son. I have a two year old so right now I'm just
working.

AGENT RICHARDS: He's a handful?

THE WITNESS: Yeah.

AGENT RICHARDS: TI have one, too.

THE WITNESS: Yeah. So in the future, I'm
definitely going to go to college. I'm going
definitely going to go to school. But I have, you
know, a modeling career going on right now that's

Page 4

HOUSE_OVERSIGHT_012285
"
IMAGES-008-HOUSE_OVERSIGHT_025545.txt,"Tein would represent me. Upon review of Lewis’ background, it was suggested that
he might now not have the credibili y that he had represented, and rumors were
that he had been asked to leave the Department of Justice for inappropriate billing. |
told him in no uncertain terms that if his were true he would need to tell me, as he
was representing my credibility with the government. If he had been asked to leave
the Department of Justice, it would dramatically hurt my chances if it were he
making my case to senior officials. He swore up and down, as southerners are apt to
do, that there was no truth whatsoever to the allegations. Being charged with
untrue allegations rang close to my heart, and | chose to side with Lewis. Only after
my incarceration, when Lewis and Tein came to see me in a 9’x 10’ attorney room
that smelled of urine, and I told them that I was now being sued by many of the girls
on the government list, they expressed their regrets and their willingness to help.
However, as they walked out down the dungeon like hall with the sound of clanging
gates in the background, they were unaware of the security cameras and
microphones throughout the hallway. They chose to high-five one another on
camera and smile with the comment, “This is going to be a couple more years of
fees”. The guards at the jail, accustomed to some of the most heinous physical
crimes imaginable, and hardened against most of humanity’s foibles, were caught off
guard by the exhilaration of the potential of more fees.

Sex for money; it’s a sensitive subject. The reactions range from snl res Dworkin
the feminist who considers all intercourse a form of rape; man inserting his
authority, to Jackie Mason that posits that when a man takes a woman 1 for dinner,
many times his real motivation is the hope of receiving sex at the end of the evening.
He suggests it is hypocritical for the man to be able to pay the florist for flowers, the
doorman for getting a cab, the restaurant for the food, and the liquor store for the
gift of wine, but can’t pay the only person that performs the actual sex act without
committing a crime. Yes, I paid for sex. 1am a john. Yes, ] understand that
prostitution is a crime and a crime that very few johns have even gone to jail for. |
am aware that there are strong feelings amongst many people regarding that crime.
Many countries have legalized it, some states have legalized it; many have a policy of
no enforcement. New York City has escort services that openly advertise, massage
parlors that have neon signs in midtown. In actual fact, the crime of paying for sex at
the time of my transgressions was under penal code 230; equivalent to that of jay
walking unless the girl was under 15. Yes, under the age of 15. That was in New
York. In Florida, the age of consent is 18. Misrepresentation of age is not considered
a defense. Even if the girl worked in a sex establishment where one has to prove age
to work, if the girl was met in a bar where the drinking age is 21, or shows ID that
appears to be valid that she is over 18, that is not a defense. The State Attorneys
who deal with this sort of crime on a regular basis reviewed the case brought by the
local police, and said in no uncertain terms that there “were no real victims “ in the
Epstein case. NO real victims. Their words; they said the women knew what they
were doing. They even brought their best friends to Epstein’s house after going
there a number of times themselves. How could there be a serious crime?

HOUSE_OVERSIGHT_025545
"
IMAGES-004-HOUSE_OVERSIGHT_018439.txt,"What Others Are Saying About
The S&M Feminist

te Kk ok

""I wish we could make it so everyone buying a copy of Fifty Shades of Grey would also
buy Clarisse Thorn's The S&M Feminist.”

~ A.V. Flox, editor of BlogHer's Love & Sex section

""Clarisse isn't afraid to talk about her own experiences with BDSM, relationships, and
sexual politics. But she's also not afraid to explore some of the issues around consent,
violence, and safety that a lot of the kink cheerleaders would like to sweep under the rug.
She brings a refreshing honesty to her writing that is often lacking. Add to that a deep
commitment to feminism and sex-positivity, and you have an amazing combination.

""The tension between kink and feminism is a tough one to hold onto and most people end
up firmly in one camp or the other. What makes Clarisse's writing phenomenal is her
steadfast refusal to avoid doing that. The clarity with which she discusses both sides
without resorting to caricatures or stereotypes is simultaneously inspiring and
challenging. If you're interested in either or both, I can't recommend her enough.”

~ Charlie Glickman, educator at the classic feminist sex store Good Vibrations

te ok ok

The S&M Feminist:

Best of Clarisse Thorn

te ok ok

Clarisse Thorn

Smashwords Edition

te ok ok

clarissethorn.com

@ClarisseThorn

te Kk ok

This ebook is copyright 2012 Clarisse Thorn. I certainly have mixed feelings about
modern copyright law... but I've put an enormous amount of time and effort into my
writing. So I ask you to please respect my time and effort, and observe copyright laws as
they apply to this ebook. If you would like to share this book with another person, please
purchase a new copy for each recipient. If you're reading this book and did not purchase
it, or it was not purchased for your use only, then please purchase your own copy. Also,

HOUSE_OVERSIGHT_018439
"
IMAGES-007-HOUSE_OVERSIGHT_023617.txt,"On Sat, Jan 4, 2014 at 10:54 AM, Kelly Friendly i >

wrote:
Thank you! We are so grateful...
Sent from my iPhone ™

On Jan 4, 2014, at 11:52 AM, ""Jeffrey Epstein"" <jeevacation@gmail.com > wrote:

jermaine , please organzie kelly to have use of the mini van. today

On Sat, Jan 4, 2014 at 10:50 AM, Kelly Friendly {i is

> wrote:
Excellent. I will email him now.

If it's not too much of an inconvenience we would love to use the car. Is it available
around 3? We are staying by the airpott....

Kelly Friendly

On Jan 4, 2014, at 11:46 AM, ""Jeffrey Epstein"" <jeevacation@gmail.com> wrote:

. andrew farkas 1s flying tomorrow. please contact
im directly and as soon as you are ready 1 will organize the use of my car.

On Sat, Jan 4, 2014 at 10:44 AM, Kelly Friendly <
> wrote:

Fantastic. If possible, could my daughter TTT (age 11) and I go back
with Mr. Earkas?

Please let me know how best to follow up. We may have found a condo by
red hook but haven't found a car yet.

Let me know how to follow up.
Kelly Friendly

On Jan 4, 2014, at 11:39 AM, ""Jeffrey Epstein"" <jeevacation@gmail.com >
wrote:

my friend andrew farkas has a pretty full plane to ny tomorrwo but can
take | or2 of you. ican call other hotels wher we have pull.. my cars
and drivers are at your disposal.

HOUSE_OVERSIGHT_023617
"
IMAGES-007-HOUSE_OVERSIGHT_022509.txt,"The Department of State's Bureau of International
Narcotics and Law Enforcement Affairs (INL) manages
US. participation in many multilateral anti-corruption
political and legal initiatives at the global and regional level.
INL also funds and coordinates significant efforts to assist
countries with combating corruption through legal reform,
training, and other capacity-building efforts. Inquiries about
the US. government’s general anti-corruption efforts and
implementation of global and regional anti-corruption ini-
tiatives may be directed to INL on its website, http://www.
state.gov/j/inl/c/crime/cort/index.htm, or by email to:
anticorruption@state.gov. In addition, the US. Agency for
International Development (USAID) has developed several
anti-corruption programs and publications, information
about which can be found at http://www.usaid.gov/what-
we-do/democracy-human-rights-and-governance/promot-
ing-accountability-transparency. Finally, the Department of
State’s brochure “Fighting Global Corruption: Business Risk
Management,” available at htep://www.oge.doc.gov/pdfs/
Fighting Global_Corruption.pdf provides guidance about
corporate compliance programs as well as international anti-

corruption initiatives.

International Landscape: Global Anti-
Corruption Efforts

In recent years, there has been a growing interna-
tional consensus that corruption must be combated, and the
United States and other countries are parties to a number
of international anti-corruption conventions. Under these
conventions, countries that are parties undertake commit-
ments to adopt a range of preventive and criminal law mea-
sures to combat corruption. The conventions incorporate
review processes that allow the United States to monitor
other countries to ensure that they are meeting their inter-
national obligations. Likewise, these processes in turn permit
other parties to monitor the United States’ anti-corruption
laws and enforcement to ensure that such enforcement and
legal frameworks are consistent with the United States’ treaty
obligations.” US. officials regularly address the subject of

corruption with our foreign counterparts to raise awareness

of the importance of fighting corruption and urge stronger

enforcement of anti-corruption laws and policies.

OECD Working Group on Bribery and the Anti-
Bribery Convention

The OECD was founded in 1961 to stimulate eco-
nomic progress and world trade. As noted, the Anti-Bribery
Convention requires its parties to criminalize the bribery
of foreign public officials in international business transac-
tions.*! As of November 1, 2012, there were 39 parties to
the Anti-Bribery Convention: 34 OECD member coun-
tries (including the United States) and five non-OECD
member countries (Argentina, Brazil, Bulgaria, the Russian
Federation, and South Africa). All of these parties are
also members of the OECD Working Group on Bribery
(Working Group).”

The Working Group is responsible for monitoring the
implementation of the Anti-Bribery Convention, the 2009
Recommendation of the Council for Further Combating
Bribery of Foreign Public Officials in International
Business Transactions, and related instruments. Its mem-
bers meet quarterly to review and monitor implementation
of the Anti-Bribery Convention by member states around
the world. Each party undergoes periodic peer review.”
This peer-review monitoring system is conducted in three
phases. The Phase 1 review includes an in-depth assess-
ment of each country’s domestic laws implementing the
Convention. The Phase 2 review examines the effectiveness
of each country’s laws and anti-bribery efforts. The final
phase is a permanent cycle of peer review (the first cycle of
which is referred to as the Phase 3 review) that evaluates
a country’s enforcement actions and results, as well as the
country’s efforts to address weaknesses identified during the
Phase 2 review. All of the monitoring reports for the par-
ties to the Convention can be found on the OECD website
and can be a useful resource about the foreign bribery laws
of the OECD Working Group member countries.”

The United States was one of the first countries to
undergo all three phases of review. The reports and appen-

dices can be found on DOJ’s and SEC’s websites.** In its

HOUSE_OVERSIGHT_022509

"
IMAGES-011-HOUSE_OVERSIGHT_030905.txt,"ok.. I just sent an additional email which moderates this.. everyone was a victim, including Jeffrey here..
and there was no happy resolution.. please add.. ""probably everyone was a victim, with no happy resolution
or consequences of these activities"", after ""was the victim in this case.”.

On Apr 6, 2011, at 10:18 AM, Rebecca Watson wrote:

Okay, thanks for this statement . . . I'll print it in full along with the article, probably today. I very, very
strongly disagree with your position and hope you eventually reconsider, but I do appreciate you taking the
time to respond.

-R

On Wed, Apr 6, 2011 at 1:15 PM, Lawrence Krauss Fs wrote:

jeffrey apparently paid for massages with sex... I believe him when he told me he had no idea the girls were
underage, and I doubt that people normally are asked for or present a driver's license under such
circumstances... Moreover, I also believe that Jeffrey is an easy target for those who want to take advantage
of him... Moreover, I can say with great honesty that Jeffrey's time in prison led him to seriously examine
his life in very positive ways and I don't believe in blanket condemnations of people. He served time for
something that was determined was inappropriate. I honestly don't know who was the victim in this case. I
fully expect that these masseuses knew what they were doing, and were not swayed to do anything with
Jeffrey that they were not already doing. That is not to approve of the whole behavior, but lots of peoplel
know and like have behavior I don't entirely approve of.. I know it is not politically correct to say that,
because in general this is a very sensitive issue and all other things being equal one should take the side of
the young women. But all things are not equal in this case, from my point of view. It is a judgement call,
and I will not turn my back on a good friend so easily.

On Apr 6, 2011, at 9:57 AM, Rebecca Watson wrote:

Thanks for getting back to me. I was asking because I found the quote shocking . . . the evidence against
Epstein is overwhelming and he's even pled guilty to paying for sex with a minor. It's in no way scientific or
rational to assume that because you never saw him with an underage girl he must actually be innocent. It is
possible for a person to be kind and generous with his friends but still a criminal paying for sex with
underage girls in his private life.

I'm going to write about the topic on Skepchick, and I'll include any additional statement you'd like if you
want to provide more context or if you've changed your mind.

-R

On Wed, Apr 6, 2011 at 12:50 PM, Lawrence Krauss i wrote:
yes it is.. Based on my direct experience with Jeffrey, which is all I can base my assessment on, he is a
thoughtful, kind, considerate man who is generous to his friends, and all of the women I have known who
have been associated with Jeffrey speak glowingly in the same words..

why are you asking?

HOUSE_OVERSIGHT_030905
"
IMAGES-006-HOUSE_OVERSIGHT_021449.txt,"FD-302a (Rev. 10-6-95)

31E-MM-108062

Continuation of FD-302 of | | ,On 02/02/2007 __, Page 3 b6

b7c

[said that
[| According to
not like the way
stating that
were asked to complete another task at or during the same time.

Pursuant to a Grand Jury Subpoena supplied the b3
interviewing agents with a co Upon bé
review .of the report with owing b7c

information:

HOUSE_OVERSIGHT_021449
"
IMAGES-009-HOUSE_OVERSIGHT_028428.txt,"10"", ""inlineTextStyles"": [{""range"":{""length"":273,""start"":0},""textStyle"":"" anf-ts-

I""}, {""range™: {""length"":273,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default—
body"", ""role"":""body"", ""text"":""In a sign that the White House was prepared to take a more
aggressive approach to the newly lodged accusations against Judge Kavanaugh, White
House officials sent out a document around midnight on Sunday casting doubt on the
article with a point-by-point list of
rebuttals."",""type""™:""text""}, {""bannerType"": ""any"", ""identifier"":
2"",""layout"": ""ComponentLayout-

W

_anf-banner advertisement

4"",""role"":""banner advertisement"", ""type"":""banner advertisement""}, {""identifier""™:"" anf-
body-11"", ""inlineTextStyles"": [{""range""™: {""length"":377,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range""™: {""length"":377,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"": ""body"", ""text"": ""The agreement to hear Dr. Blaseyd€™s testimony was sealed

after days of frenzied, bitter negotiations that left Mr. Trump and his team believing
that his own party had allowed itself to be exploited. For Mr. Trump, the hearing is
dangerously unpredictable, carrying the potential to tarnish not only Judge Kavanaugh
but also the Republican Party itself weeks before th

election."",""type"":""text""}, {""identifier"":"" anf-body-
12"",""inlineTextStyles"": [{""range"":{""length"":466,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range""™:{""length"":466,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"":""body"", ""text"":""While the president, cognizant of the stakes, has mostly
restrained himself from attacking Dr. Blasey publicly, he reverted to form on Friday,
questioning her credibility in a tweet in which he demanded to know why she or her
parents had not reported the assault to law enforcement authorities if it had been
a€eas bad as she says.d€ Later, at his rally in Springfield, Mo., Mr. Trump said Judge
Kavanaugh would be confirmed because A€cehe was born ford€ the Supreme

Court."",""type"":""text""}, {""identifier""™:"" anf-body-
13"",""inlineTextStyles"":[{""range"":{""length"":264,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range""™:{""length"":264,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"", ""text"":""His tweet drew a backlash from Senator Susan Collins of

Maine, one of a few moderate Republicans whose votes will determine whether Judge
Kavanaugh is confirmed. She noted that many sexual assaults are never reported, and

called the presidentaée™s remark a€eappalling.a€"", ""type"": ""text""}, {""identifier"":"" anf-
body-14"", ""inlineTextStyles"": [{""range""™: {""length"":368,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range""™:{""length"":368,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"":""body"", ""text"":""Senator Mitch McConnell, Republican of Kentucky and the
majority leader, who has teamed up with Donald F. McGahn II, the White House counsel,
to try to push through Judge Kavanaughaé€™s confirmation, privately told Mr. Trump that
his tweet was not helpful. And on Sunday, Senator Lindsey Graham of South Carolina, a
member of the Judiciary Committee, had similar

counsel."",""type"":""text""}, {""bannerType""™:""any"", ""identifier"":"" anf-banner advertisement
3"",""layout"":""ComponentLayout-—

4"",""role"":""banner advertisement"", ""type"":""banner advertisement""}, {""identifier""™:"" anf-
body-15"",""inlineTextStyles"": [{""range""™:{""length"":91,""start"":0},""textStyle"":"" anf-ts-
i""},{""range""™:{""length"":91,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default—
body"", ""role"": ""body"", ""text"": ""a€el would advise the president to let us handle this, 4a€
Mr. Graham said on a€eFox News Sunday.a€"", ""type"": ""text""}, {""identifier"":"" anf-body-
16"",""inlineTextStyles"": [{""range"":{""length"":375,""start"":0},""textStyle"":"" anf-ts-

i""}, {""range™:{""length"":375,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"":""body"", ""text"":""Mr. McConnell has explained to the president the political
reality that, as much as Republicans might want to try to quickly move past Dr.
Blaseyd€™s allegation, they must tread carefully to avoid alienating Ms. Collins or
other senators who have been noncommittal about their position on the judge, including
Senator Lisa Murkowski of Alaska and Senator Jeff Flake of

Arizona."",""type"":""text""}, {""identifier"":"" anf-body-

17"",""inlineTextStyles"": [{""range"":{""length"":339,""start"":0},""textStyle"":"" anf-ts-

i""}, {""range™: {""length"":339,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"", ""text"":""With Senate Republicans holding only a 51-to-49 majority,

=

Senator Charles E. Grassley of Iowa, the Republican chairman of the Judiciary
Committee, who led painstaking negotiations with Dr. Blaseya€™s legal team over th
terms of the hearing, has been driven in large part by a desire to accommodate the
concerns of senators in his own party."",""“type"":""text""}, {""identifier"":"" anf-body-
18"",""inlineTextStyles"": [{""range"":{""length"":433,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range™: {""length"":433,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"": ""body"", ""text"": ""a€eYoude™re dealing with two different worlds,a€ said Ron
Bonjean, a Republican consultant and former Senate aide who helped shepherd th
confirmation of Neil M. Gorsuch, Mr. Trumpdé€™s first Supreme Court nominee, last year.
a€eSenators McConnell and Grassley both know that they need Senators Murkowski and

HOUSE_OVERSIGHT_028428
"
IMAGES-003-HOUSE_OVERSIGHT_014763.txt,"Table 5: Scenario analysis of China’s 2017 FX reserves (yellow denotes lower reserves/ blue higher)
Trade balance, USDbn
100 150 200 250 300 350 400 450 500

300 2,885 2,935 2,985 3,035 3,085 3,135

350 2,835 2,885 2,935 2,985 3,035 3,085 3,135
400 2,185 2,835 2,885 2,935 2,985 3,035 3,085 3,135

450 2,135 2,185 2,835 2,885 2,935 2,985 3,035 3,085 3,135
500 2,35 2,835 2,885 2,935 2,985 3,035 3,085
550 2,685 2,835 2,935 2,985 3,035
600 : 2,635 ; 2,885 2,935 2,985

Capital outflow, USDbn

650 2835 2885 2.935
700 85-2835 2.885
750 2. 835
800 2.68 785
850 | 2685 2,735
900 2 2635 2,685

Source: BofA Merrill Lynch Global Research, Bloomberg. 2016 rate is annualized from the first 3 quarters of data.

Table 5, above, shows a scenario analysis of China’s FX reserves in 2017 under different
trade balance and capital outflows. The analysis makes two assumptions. The first
assumption is all the changes in the Balance of Payment’s (BoP) reserve assets are
reflected in the headline FX reserves figure. The second assumption is that the income
balance is USD -36bn, which was derived from the annual rate since 2015.

We believe a decline of FX reserves to USD 2,600bn to USD 2,900bn would only be a
problem for China if it attempted to implement a “fixed exchange rate” without capital
controls. Such an FX regime requires heavy FX intervention and would put downward
pressure on its FX reserves, making this FX regime choice no longer tenable for China.

The IMF’s framework for calculating adequate FX reserves is based on whether there
are capital controls and whether the currency operates on a fixed or floating exchange
rate regime (Table 6). The latest readings show a fixed exchange rate regime without
capital controls in China would require USD 2,91 1bn of FX reserves, which probably
won't be achieved, as shown in Table 1. Meanwhile, a floating exchange rate regime
with no capital controls would require USD 1,618bn of FX reserves. Fewer FX reserves
would be needed to manage a floating currency that would adjust freely to capital flows.
This reinforces the view that the CNY is moving toward a more flexible FX regime as its
FX reserves are depleted (barring a draconian step capital control measures).

Skeptics may counter that China could always ratchet up capital controls to reassert
control over its currency. However, the efficacy of this is questionable. The experience
of 2016 shows that in spite of more capital controls introduced in late 2015 (e.g.,
onshore window guidance restricting the sale of FX by onshore banks) capital outflows
have continued along with FX reserve depletion, albeit at a slower pace. Ultimately, this
means China’s ability to exert control over the CNY is being eroded, while the risk of
more CNY volatility is rising. This is our scenario for 2017, with the tail risk that “ugly
flows” or illicit capital flight due to domestic financial stability concerns could drive
sharper CNY depreciation and FX reserve depletion. It is under this tail risk scenario that
the temptation for draconian capital controls becomes a danger. For this reason, we
believe it will be important to monitor the nature of the capital outflow and not just the
size of the outflow. Good outflow such as Overseas Direct Investment by state-owned

Table 6: China reserves adequacy recommendations based on IMF guidelines

Latest, Capital control No capital control
USDbn Fixed Floating Fixed Floating
Weight, % USDbn Weight, % USDbn | Weight, % USDbn Weight, % USDbn

Short-term debt 167 30 230 30 230 30 230 30 230
Other liabilities 961 20 192 20 192 20 192 15 144
Exports 2,156 10 216 10 216 10 216 5 108
Broad money 22,128 5 1,136 25 568 10 2,213 5 1,136
Recommended reserves 1,774 1,206 2,911 1,618

Source: BofA Merrill Lynch Global Research, Bloomberg, SAFE

Bank of America Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 33
Merrill Lynch

HOUSE_OVERSIGHT_014763
"
IMAGES-008-HOUSE_OVERSIGHT_025223.txt,"Eye on the Market July 25, 2011

J.P Morgan

Topics: US debt ceiling negotiations, a more ambitious European bailout plan (finally), and how large cap growth stocks
and rising corporate profits are patiently waiting for both of them to end

What the EU gave: an easing of lending conditions, and an expanded role for the EU lending facility (EFSF)

* Another 109 bn for Greece, allowing the country to continue to pay off maturing debt (to those not participating in the exchanges)

* Rate on new EU loans to Greece, Portugal and Ireland cut to 3.5%, maturities on new & old loans extended from 7.5 to 15-30 years
* 10 year grace period on interest on new EU loans to Greece; the unpaid interest accumulates

* EU loan facility has the ability to buy sovereign debt in the secondary markets, including a plan to purchase 40 bn of Greek debt
(most likely including much of the Greek debt purchased by the ECB)

* EU loan facility has the ability to lend to countries (even those not in an IMF program) to recapitalize their banks

* Language (with no specifics) regarding the use of EU structural funds to boost growth in Greece

What the EU gets: more austerity, Maastricht with teeth (?) and private sector involvement in Greek debt rollover

* Legally binding national fiscal framework to be developed by end of 2012; fiscal deficits brought to 3% by 2013 at the latest

* Private sector involvement in Greek debt rollover, committed in principle by 30 financial institutions listed in the document released
by the Institute of International Finance; target participation rate of 90%; exchange appears to result in Selective Default credit rating
* Voluntary participation options include exchanging existing debt into 15 or 30 year bond with AAA-guarantees of principal. Bonds
exchanged at par will carry low coupons (4.25% effective), while bonds with higher coupons will be exchanged at a 20% discount
Source: Eurozone draft proposal July 21, 2011, IIF press release July 21, 2011

In addition to execution risk in Greece, we are left with
3 other concerns. First, while there’s enough in the EU-
IMF lending facility* to deal with problems in Greece,
Portugal and Ireland, if you include Spain, it gets tight
(note: the chart excludes costs to recapitalize banks). If
Italy or Belgium entered Europe’s Liquidity Hospital, a lot
more money might be needed from European parliaments

Limited capacity at the European Liquidity Hospital
Official sector lending capacity vs sovereign funding needs (including
deficits) through 2013 - Billions, EUR

1,800

1,600
1,400
1,200
1,000

800

Greece package

(in one worst-case scenario, Alliance Bernstein estimates
that the EU lending facility would have to increase from
440 bn to 1.7 trillion Euros, mostly from Germany). Italy

es EFSM

600
400
200

faces a multi-notch downgrade from Moody’s, which is
not going to help. As we discussed two weeks ago, Italy
has been a model citizen in terms of running low budget
deficits for 20 years, but still cannot escape the confines of
its very large existing debt stock (120% of GDP).

Greece,
Portugal, Ireland

Total lending
capacity

Plus Spain Plus Italy and

Belgium

; Possible sovereign borrowing needs from official sources
Source: AllianceBernstein, Public Filings.

Second, as shown below, Europe is now a two-speed economy, with the periphery stuck in neutral (industrial production is one
proxy for this; there are others, such as unemployment, consumption, export shares, etc). Ifthe idea behind the EU/IMF effort
is that austerity will boost growth and lead these countries back to the public markets, there is very little momentum in this
direction. If the status quo in the periphery does not change, all the EU package does is allow the current approach

more time to fail.

Industrial production
Index, 100 = January 2007
110

105
100
95
90
85
80

15
2007 2009 2010 2011
Source: INE, CSO, ISTAT, NSS, Eurostat, Bundesbank, J.P. Morgan
Securities LLC, J.P. Morgan Private Bank. Periphery = Portugal, Ireland, Italy,
Greece, Spain.

2008

* The current EFSF lending capacity is Eur 255 bn, but we anticipate that as agreed, national parliaments will expand it to 440 bn.

Unemployment rates - core vs. periphery
Percent, Peripheral rates weighted by population
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%

1970 1980 1985 1990 1995 2000 2005 2010

Source: J.P. Morgan Private Bank, Bankof Spain, Bank of Portugal, OECD,
CSO, NSS, Bundesbank.

Greece, Ireland, Spain & Portugal

Germany

1975

3

HOUSE_OVERSIGHT_025223
"
IMAGES-007-HOUSE_OVERSIGHT_023171.txt,"OUP CORRECTED PROOE - FINAL, 10/9/2014, SPi

The Crooked Course Xxxix

conceded that only the United Nations, and not Israel alone, could delineate on a map
and demarcate on the ground the line of withdrawal. Such a line had to be, to the best of
the United Nations’ knowledge, in conformity with Lebanon’s international boundar-
ies. On this basis, and with the consent of the parties, the UN Secretary-General could
then report to the Security Council and eventually recommend that it should confirm
that Israel had ended its occupation. This understanding led to an agreement for the
United Nations to negotiate with the Governments of Lebanon, Syria and Israel.
Through intense, difficult, and stormy tripartite negotiations over five months, the
UN Secretary-General was in May 2000 able to report to the Security Council that the
UN had reached an agreement with Israel, Syria, and Lebanon on a line of withdrawal
(the so-called Blue Line). On this basis, it was determined that Israeli troops had left all
Lebanese territory. Further, he reported that, consistent with UN requirements, Israel’s
Lebanese proxy, the South Lebanese Army (SLA), had been disarmed and disbanded.
Subsequently, the UN Security Council confirmed the end of Israel’s occupation of
Southern Lebanon in fulfillment of Security Council Resolutions 425 and 426 of 1978.

In September 2004, the UN Security Council adopted Resolution 1559. Secretary-
General Kofi Annan appointed me as his special envoy for its implementation. In a
nutshell the resolution called for respect for Lebanon’s sovereignty, territorial integrity,
and political independence; the disbanding and disarming of all Lebanese and non-
Lebanese militias; and the withdrawal of all foreign troops. After Israel’s full withdrawal
from Lebanon in 2000, the only remaining foreign troops were Syrian. Immediately
after the resolution was adopted, I engaged in intense negotiations with President
Assad, who until the assassination of former Prime Minister Rafic Hariri on 14
February 2005, was consistently resistant to move on the issue. On 12 March 2005, I
was airborne with a small UN team, among them Fabrice Aidan, on my way to
Damascus for a new round of talks with the President. Midway, the captain informed
me that he was requested to change course and land in Aleppo. Afterwards I was told
that the reason was to avoid the media who were waiting for the arrival of the UN team
in Damascus. I was picked up at Aleppo airport by Walid Muallem, who was then
Deputy Foreign Minister. He brought me to Assad’s villa, where a few hours of
negotiations resulted in the Aleppo understanding, which outlined Syria’s military
withdrawal from Lebanon with specific timelines. Assad honored his word, and
ended twenty-nine years of Syrian military presence in Lebanon consistent with
Resolution 1559.

What is often forgotten in the recurrent doom and gloom in the Middle East, is that
the step-by-step approach, which started with the Camp David Accords of 1978, has
for more than thirty years led to conflict resolution: peace between Israel and Egypt; the
Oslo Accords; the mutual recognition of Israel and the PLO; the establishment of the
Palestinian Authority in Gaza and the West Bank, which still functions with its
presidency, cabinet, and ministries; peace between Israel and Jordan in 1994, with
the recognition of borders and a long-lasting security cooperation; Israel’s withdrawal
from Southern Lebanon in 2000; and the subsequent Syrian military withdrawal five
years later; as well as Israel’s pull out from the Gaza Strip. All these steps would have
been difficult, if not impossible, without the previous ones.

In 2000 the attempts to put a final end to the Syrian-Israeli and the Palestinian—
Israeli conflicts both failed. This exposes the risks of a totalist approach to solving such

HOUSE_OVERSIGHT_023171
"
IMAGES-005-HOUSE_OVERSIGHT_018716.txt,"Trump Plaza Casino - “Cash Money Tuxedo Teddy Bear”
1999

HOUSE_OVERSIGHT_018716
"
TEXT-001-HOUSE_OVERSIGHT_020660.txt,"From: 
Sent: 
To: 
Subject: 
Robert Trivers 
12/22/2018 8:21:20 PM 
Jeffrey Epstein [jeevacation@gmail.com] 
Missing message 
Importance: High 
no evidence you got the latest so i have sent you just the key message itself—rather long so i have put in bold 
the only references to Enhanced Learning Foundation—references had to do with paying Amy Jacobson 30 
grand for a year of work on Honour killings—my own expenses covered by myself 
of course i know little or nothing about stocks but i do feel like Trump is nothing but bad news for them, which 
frightens me, given that he has 2 more years—it has cost me >$100,000 recently not for obvious economic 
reasons but because it looks like we have no one sensible in charge of the whole country 
December 16 
am good so far 
had a very productive two days with my research assistant Amy Jacobson in New Jersey 
we now have 60+ papers on honour killings in Jersey and another 20 in Jamaica 
especially important areas are Pakistan, Turkey (Kurds), Saudi Arabia and India 
lots of variation in mating system, form of homicide, reasons given, frequency of multiple victims and/or 
multiple perpetrators, degree of retribution and so on 
am working out the logical details on inheritance—females seem invariably to count for 1/2 of what a male does 
in Islam 
parallel-cousin marriages—father's brother—occur in the desserts of Saudi Arabia—it radiated out from there 
with Islam—such systems are selected in competition with each other, as in Iraq—two paternal lineages bind 
against others similarly binding 
deserts in other primates are often associated with more intense male-male between group fighting, e.g. 
hamadryas vs regular baboons—that we were doing more than riding the camels in the dessert is suggested by 
the fact that a lactose-tolerant gene arose in that area related to the lactose of camels, so we were apparently 
milking our camels ! 
i believe you have heard of the Enhanced Learning Foundation; it got me to where i am today on this 
subject, and perhaps it may wish to go further 
i intend to do a year of intense work and then summarise. i was never mentally as fast as you and i am certainly 
not getting faster with age (76 this February) but i do have a good eye for fundamental logic and i believe this 
will be the last serious project in my life--i will not let go until i have wrapped this whole thing up, especially 
with the help of Amy, who is now putting together a master Excel file on all this 
i plan a book on all of this of course, it will be co-authored by Dr Jacobson 
HOUSE OVERSIGHT 020660 
if the ELF wanted a formal proposal, i am happy to do so 
BTW resistance already making itself known—Texas A&M biology showed interest in hiring me but faculty 
were critical of my honour killing work—particularly (as usual) my claim that victims were often beautiful—
where was my ""metric"" for beauty?—without which i was not allowed to speculate--and wasn't i disrespecting 
the dead by saying they were often beautiful while still alive !! 
i have thought through trans-sexuality in humans to my satisfaction—i will get back to you shortly on that 
all best 
one final anecdote on Trans 
met a very attractive 42 year old woman in New Orleans, married, 4 children, thoroughly heterosexual—no 
lesbian relationship—but she had a fantasy of being f—kid by a male -> female trans because she preferred a 
cock in her but also liked a female figure, hips, ass, soft skin etc—hadn't seen that anywhere on the internet! 
all best, in haste 
bob 
HOUSE OVERSIGHT 020661 
"
IMAGES-003-HOUSE_OVERSIGHT_016174.txt,"Real estate: NTP positive but not enough

The Saudi residential sector is suffering an acute housing shortage which we estimate
at c1.2mn homes. Key reasons are:

e 1) Land is expensive: land constitutes as much as 50% of the cost of a housing
unit which is more than double the typical 20-25% in more affordable areas
globally.

e 2) Affordability issue: banks are reluctant to provide mortgages to workers from
the private sector.

e 3) Limited financing: the Real Estate Development Fund (REDF) which used to
provide interest-free loans to eligible Saudis for home purchase or construction, has
been unable to cope with the demand for new loans and has a backlog of about
450,000 applicants. The housing ministry is looking to issue Islamic bonds to help
fund the country’s REDF at the end of 2017.

e 4) Overrun development costs: Long delays for construction approval and permits
translate to overrun costs which create obstacles for developers to launch
economically feasible projects.

A persisting shortage of affordable residential supply

The shortage of housing is not a new phenomenon - it has been ongoing for decades.
The demand outlook from end-users is solid. Domestic household formation (marriages)
is a large component: newly married Saudi couples need an affordable place to live. With
market demand growing by 105K units pa (BofAMLe), we believe the shortage of supply
will persist for the following reasons:

e The limited scalability of residential projects — Dar Al Arkan is the largest
residential developer with only a 1% potential market share (delivery capability of
1,100 units pa).

e The capital-intensive Saudi financing model — without funding support from the
government and a virtually non-existent off-plan sales market, Saudi developers
have to secure funding to undertake larger residential projects. Dar Al Arkan is
having to lever up, as land sales, which were once the primary source of funding,
are no longer enough to enable it to scale up.

¢ A lack of incentives for large regional developers to enter the market — the
dearth of off-plan sales has dried up the cash flows of developers and limited their
ability to finance new projects and, in the worst cases, ongoing projects.
Furthermore, the profitability of affordable housing projects is not compelling
enough to attract developers to the Kingdom.

Fragmented Saudi residential market

Some 75% of new housing supply is from individuals and micro-home builders. This
trend highlights Saudis’ preference for building their own homes and illustrates the
immature profile of the real estate market in Saudi Arabia. Sovereign actions in
neighbouring countries, like the UAE, have boosted the sector (land granted to
developers, capital flows from international investors). We see big developers becoming
more active in the Kingdom but the effects on supply will not be immediate, in our view.
So far, they represent only 15% of the total market.

Key strategic objectives and KPIs to watch

e The Ministry of Housing is looking to: 1) improve performance of the real estate
sector and increase its contribution to the GDP; and, 2) enable citizens to obtain a
suitable residence. The ministry targets by 2020 to: 1) double the real estate sector

64 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch

HOUSE_OVERSIGHT_016174
"
IMAGES-005-HOUSE_OVERSIGHT_020289.txt,"137

An answer came three months later from his Moscow lawyer, Anatoly Kucherena. On
September 23, 2013, Kucherena had an extensive interviewed on the state owned RT channel.
The interviewer Sophie Shevardnadze, who had a show on RT Television, called “Sophie & Co,”
was well-admired journalist in her own right. She is also the grand-daughter of Edward
Shevardnadze, a former foreign minister and Politburo member of the Soviet Union and, after the
Soviet Union broke up, the first president of Georgia. Even though she had interviewed many top
political figures in Russia, obtaining an hour-long interview with Kucherena was a coup since, up
until then, he had not discussed the subject in Snowden in a television interview. About half-way
through the interview, she brought up a highly-sensitive subject of the disposition of the NSA
documents. She directly asked Kucherena if Snowden given all the documents he had taken from
the NSA to journalists in Hong Kong.

If anyone was in a position to know about these documents, it was Kucherena. He had acted
as an intermediary for Snowden in his negotiations with Russian authorities, including the FSB.
As such, he would be privy to the status of the secret material that was of immense concern to the
Russian intelligence services. When I interviewed Kucherena in Moscow in 2015, he told me
that “all the reports” concerning Snowden had been turned over to him by “Russian authorities” in
July 2013. “I had all of Snowden’s statements,” he said. If so, he presumably knew what Snowden
had told the Russian security services prior

Had Snowden come to Russia with empty hands or bearing gifts? Kucherena answered her
question without any evasion. He said that Snowden had only given “some” of the NSA’s
documents in his possession to journalists in Hong Kong. He had kept the remaining documents
in his possession. That confirmed what Snowden had told Greenwald. Poitras and Lam in Hong
Kong. Snowden told them that he had divided the stolen NSA documents into two separate sets
of documents. One set he gave to Poitras and Greenwald on thumb drives. The other set, which
he told them that he considered too sensitive for these journalists, he retained for himself. As late
as July 14, 2013, Greenwald told the Associated Press that Snowden held back documents and
“Is in possession of literally thousands of documents ... that would allow somebody who
read them to know exactly how the NSA does what it does, which would in turn allow them
to evade that surveillance or replicate it."" One issue for U.S. investigators at the NSA, CIA
and Department of Defense was what Snowden did with the second set afer his meetings with
the journalists in Hong Kong. Did he take these documents with him to Russia?

Shevardnadze, who makes it a point to drill her interviewees, pressed Kucherena as to whether
Snowden still had these NSA files, or “material” in Russia. The dialogue went as follows (from
the transcript supplied to me by Shevardnadze.)

Shevardnadze: So he [Snowden] does have some materials that haven’t been
made public yet?

Kucherena: Certainly.

HOUSE_OVERSIGHT_020289
"
TEXT-001-HOUSE_OVERSIGHT_029122.txt,"From: Robert Kuhn 
Sent: 12/31/2017 1:04:06 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Kuhn - Breakthroughs (and Trump) 
Importance: High 
Tomorrow Sunday after 1:00 pm? Flexible. Anytime. 
Skype? FaceTime? Phone? 
On Dec 29, 2017, at 3:27 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
weekend easy 
On Fri, Dec 29, 2017 at 3:21 PM, Robert Kuhn <______________> wrote: 
Terrific; looking forward. 
Excited to go through math candidates on the list, others too. 
Equally important, discuss edits/modifications to the 13 episodes (cutting blahs), expanding math episodes - 
see below. Assuming we expand math episodes, we will need more mathematicians. 
How's late afternoon after 5:30 pm / early evening today? - or weekend, day/times? (Family issues today - 
mother 102 in May.) 
RADICAL BREAKTHROUGHS - Initial Revisions (working model for discussion, red is new) 
Expand and Modify Mathematical Breakthrough episodes 
1. Mathematics and Truth / Overview / Show Excitement/Importance 
2. Mathematical Fields / Diverse New Kinds and Categories 
3. How Math Works in Disparate Areas of Knowledge (from fundamental physics to chemistry, 
biology [molecular and evolutionary[, psychology, sociology, economics, etc.) 
4. Power Laws 
5. Mathematical Biology 
6. Foundations of Mathematics / Philosophy/Meaning of Math (discovered/invented?) 
ADD/Exchange to Biological Breakthrough episodes 
9/10. Replicability Crisis - Problems in Statistics in Search for Truth. Deep problems of replicability in 
biomedical and psychological research - the scandal in recent years. 
HOUSE OVERSIGHT 029122 
In the non-Closer To Truth world.... 
Did CNN Intl this morning on Trump's China-oil-N.Korea-cheating tweet ""Caught RED HANDED..."" 
[pun deliberate] 
My favorite fun lines (there are so many) in Trump's NYTimes spontaneous interview. 
2) ""I like very much President Xi. He treated me better than anybody's ever been treated in the history of 
China."" 
Ever (-5,000 year history) 
1) ""I know the details of taxes better than anybody___better than the greatest CPA."" 
Not, mind you, CPAs in general, not even smart Jewish CPAs who work all the time - but whoever, out 
of 664,532 actively licensed CPAs (2016), is the greatest CPA of them all (#1 in citing code? creative 
deductions?) - better than him! 
On Dec 29, 2017, at 6:19 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
lets talk today. I went through the candidates in math. . we should talk, I have great hopes for this and am 
sure you woudl want to get it right though some of the math people write well , their speakinn style and 
presence is less than A , and probaby closer to a C +/ . Im around today or hte weekend if you would like 
to chat. 
On Fri, Dec 29, 2017 at 1:45 AM, Robert Kuhn < wrote: 
`Blahblahs' forbidden in 'Radical Breakthroughs'. So we need two replacements (for Multiverse as Science 
and Rare Sentience). 
Initial ideas: 
* Expand the first episode ""Mathematics and Truth"" into two or likely three episodes. I'm intrigued by this 
because there is so much rich material - pure math, philosophy (discovered or invented), physics (Wigner's 
'unreasonable effectiveness of mathematics in the natural sciences)', astrophysics, cosmology, biology, general 
systems theory. I've felt frustrated in this first episode because there is so much material. I think three episodes 
could work - if you agree, I'll get back to you with a suggested structure of the 2 or likely 3 parts. Also, Closer 
To Truth has had only a few videos and one episode on mathematics per se (out of 277 episodes!), so 
this would be original and complementary. In this may, math would become about half the series. 
* Integrated Information Theory - quantifying and explaining consciousness (Giulio Tononi, Un of Wisconsin-
Madison), plus supporters and critics. New controversial, science-based radical theory. 
* Evolutionary Dynamics - your program at Harvard - mathematical models. This is not an area of my 
expertise, but it could well fit Closer To Truth in general and Radical Breakthroughs in particular. But you 
need to tell me if you would like to include this. 
* Replicability Crisis - Problems in Statistics in Search for Truth. Deep problems of replicability in biomedical 
and especially psychological research - the scandal in recent years. See links and attachments. 
HOUSE OVERSIGHT 029123 
https ://en.wikipedia. org/wiki/Replication crisis  
https ://www.nature com/news/over-half-o f-p sycho lo gy-studies-fail-repro ducib ility-test-1 .18248  
http ://science.sciencemag. org/content/349/6251/aac4716  
""Replicability vs. Reproducibility"" - http://www.replicability.tau.ac.il/index.php/replicability-in-
science/replicability-vs-reproducibility.html  
Five Ways to Fix Statistics - Nature [attached]. 
* Other possibile areas you suggest 
We would like to set a mutually agreed schedule so we can confirm and reserve the Closer To Truth 'season' 
of 13 episodes for 'Radical Breakthroughs', which we need to plan well in advance - especially as we begin 
2018. 
See you Jan. 5 - Looking forward to brainstorming. 
Robert 
On Dec 28, 2017, at 7:40 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
great work , but needs some editing, did not like multi verse and sensience. seems more blahblah 
On Mon, Dec 11, 2017 at 12:50 AM, Robert Lawrence Kuhn < > wrote: 
Hi: When are you back in NY? 
Attached is the complete Preproduction Book for Radical Breakthroughs - now including Misha Gromov! 
Love your feedback, suggestions. 
Also attached is the budget and timing of funding, as presented originally, now updated for the completion of 
preproduction (phase I). We are ready to go into production (phase II). See Budget, p. 4. Committed and 
excited. 
When to meet? 
Robert 
HOUSE OVERSIGHT 029124 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029125 
"
IMAGES-002-HOUSE_OVERSIGHT_012983.txt,"4.3 Emergentist Cognitive Architectures 67

Inferred state

Action/
Correction | J
-—— Critic “< :
~ h A Deep
y Learning
System
Actor Pa Ee. (state
inference)
—
A
Actions

Observations
Rewards

Environment ]

Fig. 4.4: High-level architecture of DeSTIN

brain is a massively parallel fabric, in which computation processes and memory storage are
highly distributed. But massive parallelism is not in itself a solution — one also needs the right
architecture; which DeSTIN provides, building on prior work in the area of deep learning.

Humanlike intelligence is heavily adapted to the physical environments in which humans
evolved; and one key aspect of sensory data coming from our physical environments is its
hierarchical structure. However, most machine learning and pattern recognition systems are
“shallow” in structure, not explicitly incorporating the hierarchical structure of the world in
their architecture. In the context of perceptual data processing, the practical result of this is
the need to couple each shallow learner with a pre-processing stage, wherein high-dimensional
sensory signals are reduced to a lower-dimension feature space that can be understood by the
shallow learner. The hierarchical structure of the world is thus crudely captured in the hierarchy
of “preprocessor plus shallow learner.” In this sort of approach, much of the intelligence of the
system shifts to the feature extraction process, which is often imperfect and always application-
domain specific.

Deep machine learning has emerged as a more promising framework for dealing with complex,
high-dimensional real-world data. Deep learning systems possess a hierarchical structure that
intrinsically biases them to recognize the hierarchical patterns present in real-world data. Thus,
they hierarchically form a feature space that is driven by regularities in the observations, rather
than by hand-crafted techniques. They also offer robustness to many of the distortions and
transformations that characterize real-world signals, such as noise, displacement, scaling, etc.

Deep belief networks [HOTO06] and Convolutional Neural Networks [LBDE90] have been
demonstrated to successfully address pattern inference in high dimensional data (e.g. images).
They owe their success to their underlying paradigm of partitioning large data structures into
smaller, more manageable units, and discovering the dependencies that may or may not exist

HOUSE_OVERSIGHT_012983
"
IMAGES-005-HOUSE_OVERSIGHT_019408.txt,"I understand you have some questions about my client,
Jeffrey Epstein. Given that much of the press coverage
surrounding Mr. Epstein has been inaccurate and in some
instances, defamatory, I would like to suggest that you
send me any facutal questions so that I can provide you
with accurate responses.

Iam also available to speak with you. My number is

Thank you,

Jay

KKBKAAAKABAKAKA RASA EAEASAE EAE AAE EAR AEE ERASE EER EEE EER ESE EERE

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Kirkland & Ellis LLP or Kirkland & Ellis International LLP.
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to postmaster@kirkland.com, and
destroy this communication and all copies thereof,
including all attachments.

RKBKAAAKABAAKAKA RASA E AREAS AE EEE ARSE AE AEE EERE EEE REESE EE EERE AERE EES

This e-mail, including attachments, is intended for the person(s)
or company named and may contain confidential and/or legally
privileged information. Unauthorized disclosure, copying or use of
this information may be unlawful and is prohibited. If you are not
the intended recipient, please delete this message and notify the
sender.

KABA ASABESA EASES EAA SAE EAE AEE E REESE EERE AEE REESE EEE EEE SEES

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Kirkland & Ellis LLP or Kirkland & Ellis International LLP.
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to postmaster@kirkland.com, and
destroy this communication and all copies thereof,
including all attachments.

BABAK ASASAKA EASES AAAS E EEE AAS EERE AREER EEE EER EEE EEE EEE EE EES

HOUSE_OVERSIGHT_019408
"
IMAGES-002-HOUSE_OVERSIGHT_013445.txt,"Alfre Woodard hosted a down and dirty girls night out in a rented house above Sunset for Viola Davis
and Octavia Spencer.

Universal honcho Ron Meyer hosted a civilized private buffet at his Malibu home for Graydon Carter
with Tom Cruise, Leonardo DiCaprio, Barbra Streisand, Tom Hanks and Michael Douglas.

Stunning socialite Betsey Bloomingdale gave a seated dinner at her Holmby Hills home for best friends
Nancy Reagan, Wendy Stark, Bob Colacello, Joan Collins and fashion icon Lynn Wyatt.

Tobias Meyer, auctioneer for Sotheby’s and art dealer Mark Fletcher hosted an open house at their
Mulholland Drive home for English avant garde photographer Terry Richardson. This is the only pre-
Oscar party where a guest dropped his pants and mooned the red carpet and Terry signed a fans breast.

Friday, February 24

At the BHH | ran into David Heyman, English producer of the ""Harry Potter"" franchise who was honored
at the Publicists Awards lunch at The Beverly Hilton. “Motion Picture Showman of the Year” was the
consolation prize for being snubbed by the Academy for visualizing a publishing miracle for children
around the world.

“Nobbs” whisked me off to the British Film Reception hosted by Je

and the British Consul-General Dame Barbara Hay, in her Haneaek Paik residehiae.
Upon introduction, | blurted out that my friend Lord Astor, was interested in having LA people get to
know his son-in-law, Prime Minister David Cameron. As an appointed diplomat she was horrified by my
indiscretion and turned to greet the next American idiot. | was just making conversation.

Daldry told Sony’s Sir Howard Stringer and astute film CEO Michael Lynton, Kenneth Branagh, Janet
McTeer, he, as executive producer of the Olympics, was headed back to
London to events, including the opening ceremony, directed by Danny Boyle.

Victoria Beckham made a dramatic sullen last-minute appearance looking perfectly skinny in her own
designed dress.

At the Women in Film party at Cecconi's, Gwyneth Paltrow, Shailene Woodley, Selena Gomez and

Vanessa Hudgens networked with Jessica, Octavia and Viola now of social stamina fame.

Blythe Danner kissed me at the door as a military type looked on. | kept saying to him, ""Where have we
met?"" Nowhere. He was astronaut Mark E. Kelly who came with Blythe and is married to former
congresswoman Gabrielle Giffords, Paltrow's second cousin. Only | could mistake an astronaut for a
movie marketing guy.

Vanity Fair feted Scorsese and The Film Foundation which has saved 555 films in 22 years. Cocktails were
at the restored Bel-Air Hotel. Honorary Jewess Lorraine Bracco ran past me yelling she was late for
Ronald Perelman's Shabbat dinner. Three, three-time Oscar winners: composer Howard Shore, costume
designer Sandy Powell and editor Thelma Schoonmaker were honored. Sir Ben Kingsley, Danny Huston,

HOUSE_OVERSIGHT_013445
"
IMAGES-009-HOUSE_OVERSIGHT_027055.txt,"All the best,

Lena

BS DR 3S Ik DIS IC OIC BIS DIS 54S IC DIS IC 34S BIS DIS 34S 2k DIS ig OIC BIS DIS 3S Dik DIS ik 34S BIS DIC 2S 2k DIC ik 24S IS DIC SIS Die DIC ig 24S IC OIC SIC 2 OIC 2g OIC iS 2IC 2c 2k OIC 2k 2IC ik 2k ic

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_027055
"
IMAGES-006-HOUSE_OVERSIGHT_021307.txt,"mutually reinforcing leading to
synchrony.

In any dynamic social situation
observing one person’s action can
initiate neural activity in another. Parts
of the observer’s motor system become
activated, making it possible to respond
in synchrony. In fact, the specific actions
that are observed are not as important as
the perceived goals or intentions of the
observed person. One consequence of
this is that a person is sensitive to new
actions in the social environment. A
second is that significant actions by
another person can quickly produce
complementary motor responses. Thus,
adaptive social behavior is a product of
perceptual monitoring and motor
processes. The complexity of the social
environment necessitates selective
responding to socially significant
features of any social interaction. Such
selective responding depends on the
observer having particular goals for
action. The identification of significant
stimuli (e.g., a threatening backhand
smash) activates in the competitor’s
brain goal-driven decision processes that
operate in parallel with continuous social
monitoring and lead to a counteraction
(e.g., a defensive lob) produced by the
motor system. However, a linesman
collecting a ball during a tennis match
does not constitute a significant action
for the competition and, even if
observed, does not initiate any
counteraction.

Let us now return to the
perspective of a spectator at the tennis
match. While the specific movements
driving the tennis match have significant
implications for the players’ actions,
these movements have a different
implication for the spectator from whom
no overt responses are warranted. If an
observed action produced by someone

Page |6l

else does not have personal significance
for an observer, the motor system does
not respond in the same way at all’. The
goal-dependent aspect of observing the
actions of others allows us to understand
and respond quickly and effectively
without confusing what we do with what
we see. However, in some special cases,
when a group of individuals all respond
together, the same motor system may
operate differently. It is in these
situations when we are neither observer
nor respondent but part of a flock or
chorus that our sense of individuated self
may begin to dissolve into the larger
social group.

The Social Parameters for Suspended
Self-Consciousness

The dissolution of self-other
boundaries is likely to be manifest under
a specific set of conditions, which
includes a strong feeling of identification
with (i.e., connection between) oneself
and a group of others, the absence of
constraints to action by oneself or the
observed others, a common goal shared
by the group, and the absence of a
recognized external synchronizing signal
to which one can attribute any
synchronized behavior. Clapping in
unison following a rousing performance
is amore common example. This
remarkable phenomenon is evidenced
despite considerable individual
differences in clapping tempos. The
transition to entrained clapping, whereby
each clapper affects the surrounding
other clappers both locally and globally,
enhances the noise intensity at the
moment of the clapping even though it
leads to a decrease in the overall average
noise intensity in the room.
Synchronized behavior occurs
rhythmically and one way of capturing
its regularities is to model its cycles,
periods, frequencies, and amplitudes '”.

HOUSE_OVERSIGHT_021307
"
IMAGES-009-HOUSE_OVERSIGHT_028366.txt,"container-170"",""layout"":""ComponentLayout-14"",""role"":""container"",""type"":""container""},{""identifier"":""_anf-
container-171"",""layout"":""apple-promotion-spacer-when-no-body-
layout"",""role"":""container"",""type"":""container""}],""identifier"":""more_stories_tv_entry_with_image-
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of-article-divider-space-above-layout"",""role"":""container"",""style"":""section-divider-with-ad-top-fill-
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data"":{""specialFeatureTargeting"":[""Spotlight""]}}},""bannerType"":""any"",""identifier"":""_anf-
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extStyles"":[{""range"":{""length"":18.0,""start"":0.0},""textStyle"":""_anf-ts-

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1""},{""range"":{""length"":15.0,""start"":0.0},""textStyle"":""section-heading-text-style""}],""text"":""Daily

Discovery "",""textStyle"":""section-heading-style"",""type"":""formatted_text""}}]},""identifier"":""_anf-datatable-
8"",""layout"":""ComponentLayout-14"",""role"":""datatable"",""showDescriptorLabels"":false,""style"":""section-
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HOUSE_OVERSIGHT_028366
"
IMAGES-003-HOUSE_OVERSIGHT_014993.txt,"Table 9: Summary of open trades as of 19-Jun-17

Open Open __ Expected
Date Level Trade Term
6.9%
(FB),
1.2%
(AMZN),
9.4%
(NFLX),
6.2%
(GOOGL)

Trade Description Rationale

Buy 6m ATM calls on FB, AMZN, NFLX and GOOGL 30-May-17 Stock replace FANG stocks

Buy a 6m outperformance call on FANG stocks vs. SPX conditional on SPX> ae . .
. 30-May-17 3.4% 6m Lever extremely depressed FANG volatility and low correlation to buy upside
current levels at expiry

Buy HSI Sep17 90% put, sell ASX200 Sep-17 90% put 30-May-17 0.15%  Sep-17 expiry HSI is unlikely to outperform if AS51 drops more than 10%; HSI vol below AS51 vol

Buy 14-Sep-17 best-of 95% put on NKY/KOSPI2/HSI 05-Jun-17 0.80%  Sep-17 expiry Buy best-of puts to hedge a reversal in rally with the low vol and correlation environment
Buy SPX Top50 volatility dispersion 05-Jun-17 16.6%  — Jun-18 expiry Position for a potential bubble in Tech

Buy XLF 24 call, sell QQQ 139 call 12-Jun-17 0.01% — Jul-17 expiry Rotate out of Growth into Value

Buy NKY-KOSPI2 Dec-17 90/110 strangle spreads 12-Jun-17 3.50%  Dec-17 expiry We think the technically depressed NKY-KOSPI2 volatility spread will normalize

Buy NKY Sep17 19000-17500 put spread 12-Jun-17 0.93%  Sep-17 expiry NKY put spread may offer even better value in hedging against a ""mini TARP moment""

Source: BofA Merrill Lynch Global Research. Prices reflective of most recently available data which may be delayed in some cases. “Trade Value” represents current valuation of trades initiated on the “Open Date”.

Bankof America

22 Global Equity Volatility Insights | 20 June 2017 Merrill Lynch

HOUSE_OVERSIGHT_014993
"
IMAGES-007-HOUSE_OVERSIGHT_023159.txt,"OUP CORRECTED PROOE - FINAL, 12/9/2014, SPi

Chronology xxvii

13 June 2007 Shimon Peres is elected President of Israel by the Knesset.

14 June 2007 President Abbas dismisses Prime Minister Haniyeh and declares a state of
emergency.

15 June 2007 Hamas takes control over the Gaza Strip in a coup, after several days

of violent battles with Fatah.
15 June 2007 Salam Fayyad appointed Prime Minister of the Palestinian Authority.
30 October 2007 UN Provisional Geographic Definition of the Shebaa Farms Area.
27 November 2007 Annapolis Joint Understanding.

7 May 2008 Hezbollah militants take control of areas of Beirut.

21 May 2008 Doha agreement between Lebanese leaders brokered by Qatar.

21 May 2008 Israel and Syria announce holding indirect talks through Turkish
mediation.

30 July 2008 Prime Minister Olmert announces he is not seeking re-election.

15 October 2008 Establishment of diplomatic relations between Syria and Lebanon.

16 December 2008 Last meeting of Prime Minister Olmert and President Abbas.

16 December 2008 UN Security Council Resolution 1850 on Annapolis process.

27 December 2008 Israel launches Operation “Cast Lead’ against Hamas.

8 January 2009 UN Security Council Resolution 1860 on a Gaza cease-fire.

18 January 2009 Gaza cease-fire.

20 February 2009 _— President Peres tasks Netanyahu to form a Cabinet following 10 February

elections.
1 March 2009 Opening of the Special Tribunal for Lebanon (STL).
31 March 2009 Benjamin Netanyahu is sworn in as Prime Minister.
4 June 2009 President Obama’s Cairo Speech.
14 June 2009 Prime Minister Netanyahu’s Speech at Bar Ilan University.

25 August 2009 Ending Occupation, Establishing the State: Fayyad Plan.

25 September 2009 Report of the United Nations fact finding mission on the Gaza conflict: the
Goldstone report.

31 May 2010 Gaza Flotilla Incident.

25 January 2011 Beginning of the Egyptian uprising.
11 February 2011 — President Mubarak of Egypt resigns.
15 March 2011 Beginning of the Syrian uprising.

4 May 2011 In Cairo, Palestinian Authority President Abbas and Hamas leader
Meshal sign a reconciliation agreement, which calls, inter alia, for
elections in 2012.

29 July 2011 Formation of the Free Syrian Army (FSA).

2 September 2011 — Report of the Secretary-General’s Panel of Inquiry on the 31 May 2010
Flotilla Incident.

18 September 2011 Chair’s Summary of the AHLC on Palestinian Institutions’ readiness for
statehood.

HOUSE_OVERSIGHT_023159
"
IMAGES-004-HOUSE_OVERSIGHT_017044.txt,"Figure SS

T T T T T T T

257 __ Treaties (n=124)

2.0 4

1.0 + 1

0.5 + 4

Mean % of overall frequency >

0.0
~200 -150 -100 -50 0 50 100 150 200

Year (relative to treaty signature)

> 35F ""+g.
8 Heads of state
© 3.0}; (n=43) 4
a
ao
£& 257 |
® 20} |
oO
>
oO 15+ 4
a
fe)
se 1.0} 4
a
& 05+ 4
=
0.0 4 4. 4 4 eI
-150 -100 -50 0 50 100 150 200

Year (relative to accession to power)

a as |
S 40+ — = Newname (n=28) 4
S 35 | — Old name (n=28) 4
3
E 30
@ 25
S 20
5 2
Pa
Oo 1.5
32
o
c 1.0
© 05
=
0.0
-200 -150 -100 -50 0 50

Year (relative to country name change)

Fig. SS. Known events exhibit sharp peaks at date of occurrence. We select groups of events that occur
at known dates, and produce the corresponding timeseries. We normalize each timeserie relative to its
total frequency, center the timeseries around the relevant event, and plot the mean. (A) A list of 124
treaties. (B) A list of 43 head of state (US presidents, UK monarchs), centered around the year when they
were elected president or became king/queen. (C) A list of 28 country name changes, centered around
the year of name change. Together, these form positive controls about timeseries in the corpus.

HOUSE_OVERSIGHT_017044
"
IMAGES-004-HOUSE_OVERSIGHT_018377.txt,"terrifying Golden Rules of Computer Security.“Rule One: Don’t Own A Computer.” The
machine that Morris Jr. created was madeentirely of software. It took the form ofa
compact, simply designed computer program he’d written and designed to spread
quickly and easily on the young systems of the Internet. It ran a mere 99 lines, took
most computers nanoseconds to execute and it worked like this: The program - it
later became known as a “worm” by the police who would come to find and arrest
Morris Jr. - would find an open door on a network-connected computer. (In 1988,
the pre-Warez Dude era, finding such doors was not difficult. Finding locked doors
was probably harder.) Once Morris’ program had slithered inside and loaded itself
onto the machine, like a dog slipping through an unattended puppy door, it would
sniff around, rattle a few more doors to find any passwords that had been left
unsecured. Then it would move on to the next machine. Knock, knock. Rattle, rattle.
Next machine. Morris designed his code to simply repeat this process over and over.
Filling, as a result, each machine’s memory with multiple, peformance-deadening
copies of the same program. A house full of puppies, in a sense. After several hours
of this flu-like spread, a wave of unplanned, unending computation began choking
the net.

Morris later explained he’d only meant his program as a demonstration, as a test of
sorts. He wanted to show how machines might be made more safe. But he seemed to
grasp, almost immediately, that he’d made a mistake and that the worm was
running away from him. He emailed a friend: How the hell to stop it? His friend had
no idea either. They scrambled at least to warn system administrators about the
dangerous code that would shortly devour their machines. “There may be a virus
loose on the Internet,” they wrote. But that note, in a bit of bad luck, was
quarantined inside a Harvard computer that had already been unplugged. So, a few
hours after Morris released his code, unwarned and unprepared, the Internet froze.
212 On November 2""¢ and 3rd, 1988 machines around the world were shut off, cables
were pulled out of walls, and systems were wiped and restarted in a race to stop the
robot-like spread of the disease and then to finally kill it off. 213

The Morris Worm was, on those fall 1988 days, acting out a sober-minded insight of
the famed biological historian Alfred Crosby: “The nineteenth century was followed
by the twentieth century, which was followed by the...nineteenth century.”214
Crosby meant that our age of topological connection meant we were back, again, in
an age of infections. And this was true: Morris program was mapping out, like an
epidemic, new routes in the age of high-speed digital contagion. But - and this is
why we care about it here - by the time it reached “peak infection”, the worm was

212 So, a few hours: David Moore, Colleen Shannon, k claffy, “Code-Red: a case study
of the spread of a worm on the Internet” IMW ‘02 Proceedings of the 2nd ACM
SIGCOMM Workshop on Internet measurment (2002), 273-284

213 Morris later explained: Ted Eisenberg, DavidGries, Juris Hartmanis, Don
Holcomb, and M. Stuart Lynn, Thomas Santoro, “The Cornell Commission: On Morris
and the Worm”, Communications of the ACM (June 1989, 12: 9) 706

214 The Morris program: Alfred W. Crosby, America's Forgotten Pandemic: The
Influenza of 1918 2nd ed. (Cambridge: Cambridge University Press, 2003) xii

145

HOUSE_OVERSIGHT_018377
"
IMAGES-003-HOUSE_OVERSIGHT_015455.txt,"who required all new patients to take a two-session course in flossing and
oral health. Only when he was satisfied that patients would be capable of
caring for their teeth properly would he then make their first cleaning
appointment. Nancy learned the technique, and recently a friend named
her “the Floss Queen.” We came across an ad stating that “If you follow
a vegan diet, you may opt for Eco-Dent’ s GentleFloss, which uses

beeswax instead of animal products.” Who knew?

The irony behind all this is that Medicare doesn’ t cover any dental
procedures, even though dentists emphasize how bad teeth can cause
illness in other, internal parts of the body. For example, a research team
from Columbia University’ s School of Public Health released the results of
a three-year study of 420 men and women, concluding that the
improvement of gum health can help slow the development of
atherosclerosis, the build-up of cholesterol-rich plaque along artery walls,
which can lead to heart attacks and strokes.

| still regret that | would eat candy without flossing afterward.

Especially a Clark Bar, which could cause a cavity andfill it simultaneously.

HOUSE_OVERSIGHT_015455
"
IMAGES-002-HOUSE_OVERSIGHT_012773.txt,"predictable. This unpredictability is partially responsible for changes in the brain. Promiscuous mating
systems demand more flexibility, creativity and out of the box thinking.

The anthropologist Steve Gaulin explored the idea that a species’ mating system is directly
related to its capacity to think. Gaulin started by looking at two closely related species of voles, one
monogamous and the other polygynous. In the polygynous vole, males typically mate with multiple
females. To achieve this kind of mating success, males have large territories that encompass many
smaller female territories. In the monogamous species, the male and female share the same territory, with
mating restricted to the couple. These differences in mating system and space usage have two direct
consequences: relative to the monogamous male vole, the polygynous male vole must travel much further
in a day than the females and must recall where the female territories are located. For a polygynous male
vole, mating success depends on long day trips, visiting each of the female territories. For the
monogamous male vole, there are no physical or memory challenges as the female is virtually always
nearby. Given the costs to a polygynous male vole of forgetting where the females live, there should be
strong selection on the memory system. Gaulin confirmed this prediction by showing that polygynous
male voles outcompete females of their species in a maze running competition, and also have larger
memory systems than females. In the monogamous vole, there are no sex differences in maze running or
memory.

Gaulin’s work provides a gorgeous example of how evolutionary pressures can act on the brain to
create differences in psychological capacity. Other examples abound, including evidence that fruit eaters
have larger brains than leaf eaters, primates living in large social groups have larger frontal lobes than
those living in smaller groups, and bats living in open habitats have smaller brains than those living in
complex closed habitats. In each case, a particular ecological or social pressure — finding ripe fruit,
updating the status of numerous social relationships, avoiding obstacles while in flight — sculpts
differences in brain anatomy and function. Some of these pressures favor extreme specialization and
myopia, whereas others favor a broader vision. Relative to every healthy member of our species, all other
animals have tunnel vision. When our ancestors began to migrate out of Africa, the diversity of
environments and social opportunities favored generalists with a broad and flexible vision.

To appreciate the significance of the human revolution in brain engineering, consider three cases
of myopic, but highly adaptive intelligence in other animals, cases that lack the signature of intellectual
promiscuity; these cases are of particular interest because they represent the kinds of examples that
caused Darwin to doubt the beneficence of God, to reflect upon the cruelty of nature, and to ponder the
problem of evil:

* The wasp Ampulex compressa tackles a specific species of cockroach, inserts a

first stinger into its body to cause leg paralysis and eliminate fighting, then a second

Hauser Chapter 1. Nature’s secrets 27

HOUSE_OVERSIGHT_012773
"
IMAGES-002-HOUSE_OVERSIGHT_014302.txt,"ee
ze]
—=Ein

HOUSE_OVERSIGHT_014302
"
IMAGES-005-HOUSE_OVERSIGHT_019420.txt,"While the decision to go seems to have technically been Ballmer’s, interviews with dozens of people inside and outside the
company, including many close to the situation, indicate that he had not aimed to leave this soon and especially after the
recent restructuring of the company that he had intensely planned.

Instead, sources said Ballmer’s timeline had been moved up drastically — first by him and then the nine-member board,
including his longtime partner and Microsoft co-founder and chairman Bill Gates — after all agreed that it was best if he left
sooner than later.

That was due to a number of increasingly problematic issues on the immediate horizon — including a potentially nasty proxy
fight, continued business performance declines and, perhaps most of all, that Ballmer’s leadership was becoming a very
obvious lightning rod.

Interestingly, Ballmer actually indicated that he had planned on staying in his letter about his impending departure, noting:
“My original thoughts on timing would have had my retirement happen in the middle of our transformation to a devices and
services company focused on empowering customers in the activities they value most.”

That sentence spurred much chatter inside the company, including the persistent rumor that Gates had dropped the bomb
on Ballmer. That sentiment was further underscored when Ballmer’s letter contained no reference or thanks to Gates, with
whom he has been tightly tethered over the last several decades. Its absence has been much discussed internally at
Microsoft, where ithas been seen as an unusual slight and a sign of a rift.

Gates also did not reference his longtime business partner in any celebratory manner in Microsoft's announcement. “Asa
member of the succession planning committee, I'll work closely with the other members of the board to identify a great new
CEO,” said Gates, in the entirety of the quote about Ballmer’s retirement. “We’re fortunate to have Steve in his role until the
new CEO assumes these duties.”

Other sources cautioned that it was not indicative of tensions between the pair, but was done to minimize “lame duck
concerns’ that might arise if Ballmer was portrayed as already out the door.

Those sources also insist that Gates never asked Ballmer to step down sooner, although they acknowledge that he also did
not — as Gates had in the past — disagree that it was best that he move on.

“Did Gates instigate it? No,” said one source with knowledge of the situation. “But was he as supportive of Ballmer as he had
been in the past? Maybe not.”

That was still a big change, of course. Gates — who has always been and remains the key decision-maker on Microsoft's
board — had always been Ballmer’s major backer, despite increasing pressure both externally and from other directors for
him to step down.

Gates had rejected such suggestions for years. That included former director and Netflix CEO Reed Hastings, who many
sources said had been one of the first to urge that the company replace Ballmer as CEO, as well as from a spate of Wall
Street investors complaining about the company’s declining value in the Ballmer years.

As AllThingsD’s John Paczkowski wrote on Friday: “Here’s one metric by which Ballmer will be judged harshly. On the last
day of 1999, the day before he took over as CEO, Microsoft’s market capitalization was $600 billion. On the day before he
announced his intention to retire, it was less than $270 billion.”

That’s a damning number, of course, coupled with a widespread sentiment that Ballmer had missed critical trends in tech
under his tenure. Despite a strong growth in revenue, investors and others had long concluded that Microsoft had thrived
when Gates was CEO and waned under Ballmer’s rule.

Still, until recently, there has been no signal from the company indicating any change in top leadership. In fact, the
management reorganization backed strongly by the board a month ago had essentially placed Ballmer at the center of the
structure under a plan described as “One Microsoft.”

And, at the time of the restructuring announcement in July, Ballmer’s definite and clear message was that he was there to
stay:

“Lots of change. Butin all of this, many key things remains the same. Our incredible people, our spirit, our commitment, our
belief in the transformative power of technology — our Microsoft technology — to make the world a better place for billions
of people and millions of businesses around the world. It’s why | come to work inspired every day. It’s why we’ve evolved
before, and why we're evolving now. Because we’re not done. Let’s go.”

Though early in its rollout, the changes have been jarring and created a level of chaos at the company that has led to much
grumbling internally. It also did not help that the restructuring was quickly followed by a dismal Q4 performance by Microsoft.

HOUSE_OVERSIGHT_019420
"
IMAGES-006-HOUSE_OVERSIGHT_022168.txt,"[TERSON

ed bizarre. And yet everything
‘emed to be bizarre.

a jet out of Epstein—a trip to
*t bosom buddies.

ready know how he feels about

zet out of Epstein, aside from
books he’d written?

iad, as he laid out his argument,
y Epstein, all bets were off. He
sence. All he had to do was make
dy. The more complicated things
re for Dershowitz.

ctions, and the endlessly compli-
tersuits those actions inspired,
ndeed.

CODA

Scott Rothstein

On October 27, 2009, Florida’s governor, Charlie Crist, left Scott
Rothstein a voice-mail message.

“Hey, Scott,” the governor said. “It’s Charlie, your favorite
Greek governor. Hope you're doing well, buddy. Just wanted to
touch base and let you know I’m working Versace for November
twenty-fourth, and it is going amazingly well— unbelievable,
brother. ...Really enjoyed again seeing you and Kimmie and
watch[ing] a little football and best to you guys from Carol and
me. We love you. Take care. Bye-bye.”

That same day, Rothstein took a chartered Gulfstream V to
Casablanca, Morocco. For a while, it seemed as if Rothstein was
running. But a few days later, the same Gulfstream returned to
Fort Lauderdale. The Ponzi king had decided to turn himself in.

The moment he did, he started to sing like a canary in return

for a lenient sentence. Rothstein gave up dozens of associates —
_ the list included people at his law firm, law enforcement officers,

HOUSE_OVERSIGHT_022168
"
IMAGES-005-HOUSE_OVERSIGHT_019346.txt,"From: Maria Luisa <i >
Date: July 22, 2018 at 9:11:58 AM EDT

To: Steve Bannon (E>, Preate Alexandra TT

<PHOTO-2018-07-22-10-02-17.jpg>

Sent from my iPhone

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and

HOUSE_OVERSIGHT_019346
"
TEXT-001-HOUSE_OVERSIGHT_021230.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 6/27/2009 11:22:50 AM 
To: Peggy Siegal 
Subject: Re: July 22 
now is fine 
On Sat, Jun 27, 2009 at 7:05 AM, Peggy Siegal <I  > wrote: 
Fine. What time 
-----Original Message----- 
From: Jeevacation <jeevacation@gmail.com> 
To: Peggy Siegal 
Sent: Sat Jun 27 07:04:52 2009 
Subject: Re: July 22 
Call me this afternoon 
Sent from my iPhone 
On Jun 26, 2009, at 5:23 PM, ""Peggy Siegal"" <1111.111.1111 wrote: 
So I go to a designer's cocktail party last night and Jonanthan and Kimberly Farkus are there telling me about your coming home 
celebration and there might be on seat left on his cousin's plane... .do you know about this? 
I mentioned that you said there was no ""release"" party.... 
I am coming if there is one- if you don't a ""surprise"" event- you might want to get into this. 
Your friends are counting the days to freedom... 
Went to Heyward Isham's funeral today... father of Ralph and Chris...very sad. Old wasp diplomat who was our Ambassador to 
Haiti in 60's- sounds like CIA... is CIA 
Going to dinner with Amy Irving, her husband and Mario Platero, a brilliant Italian (Jewish) journalist- very chic- wife in 
Engand- he travels with Obama...runs big news agency here- very funny- you will love him- will introduce in your new life.. 
Cannes Diary finally went to press... 
Was in LA for 3 days of meetings with every studio.. working hard for the business.. its there, but it'a like begging to get them 
to spend so we spend our days getting underwriting.. thank God I have a guy in the office that does this... 
Poured all day in Hamptons- sun just came out... 
Miss you... 
xoxo Peg 
HOUSE OVERSIGHT 021230 
"
IMAGES-002-HOUSE_OVERSIGHT_014464.txt,"were underweight at the start of the year too and missed the lows. We recognized we
were wrong and closed our underweight and while it took us a while but we eventually
managed to go overweight in September. The lesson of that is that themes are great,
but when the facts change strategists and investors have to change their minds.

Chart 11: Cyclicals vs Defensives: from -3.5SD to +3.2SD in 14 months Chart 12: Financials vs Defensives: -2.5SD to +2.5SD post Brexit
4 4
3 3
2 2
{ 1
0 0
-{ -1
ry) -2
3 3
A a
Deeede Dec-01 Dec-05 Dec-09 Dec-13 Dec-97 Dec-01 Dec-05 Dec-09 Dec-13

Financials vs Defensives - relative price vs 52wk average (SD)

Cyclicals vs Defensives - relative price vs 52wk average (SD)

Source: BofA Merrill Lynch Global Research, Bloomberg Source: Re BofA Merrill Lynch Global Research, Bloomberg place this text

In fact your best guide to this year was to buy something when it has oversold,
underowned and unloved, like Miners and Emerging Markets in February, Banks in July,
the Nikkei the day of the US election and sell when the opposite e.g. bonds and
defensive equities shortly after Brexit. Our CTI models did actually pick up a number of
those events as the table below shows. It also got picked up by our standard deviation
analysis. We acted on some but not all of these readings. The lesson, with the benefit of
hindsight, is to pay more attention to them. Indeed, our recent decision to downgrade
both Banks and Basic Resources reflected very high readings on our models.

Table 1: Reflation rotation very stretched on our CTIs post-Trump Table 2: While opposite true immediately post-Brexit
Asset 11/11/2016 10/11/2016 09/11/2016 Asset 29/06/2016 28/06/2016 27/06/2016
EUR/GBP 46 44 -12 Relative Stoxx Autos -95 -39 9
German 10y Bonds 66 61 24 Relative Stoxx Banks -80 -83 -86
US 10y Bonds 96 96 93 Relative Stoxx Basic Resources 21 3 0
Stoxx Banks 80 iA 0 Relative Stoxx Chemicals 2 19 40
Stoxx Basic Resources 92 93 92 Relative Stoxx Construction & Materials -10 -36 1
Stoxx Food & Beverages -84 -96 -54 Relative Stoxx Financial Services -91 -91 -92
Stoxx Insurance 67 64 23 Relative Stoxx Food & Beverages 60 18 82
Stoxx Personal & Household Goods -34 15 -T Relative Stoxx Healthcare 88 88 88
Stoxx Utilities -92 -94 -19 Relative Stoxx Industrial Goods &
; A? -35 44
Services
Relative Stoxx Banks Relative Stoxx Insurance -87 -94 -94
Relative Stoxx Basic Resources 100 100 o9 Relative Stoxx Media 6 “13 39
Relative Stoxx Food & Beverages -93 -93 -89 Relative Stoxx Oil & Gas 93 86 91
Relative Stoxx Insurance 9? 94 16 Relative Stoxx Personal & Household 57 58 70
Relative Stoxx Media -34 TT 87 Goods
Relative Stoxx Pers&Hhold Goods -92 -94 fh Relative Stoxx Retail 63 81 1
Relative Stoxx Technology -80 -14 -55 Relative Stoxx Technology 0 0 0
Relative Stoxx Telecom -91 -92 -28 Relative Stoxx Telecom 3 0 -16
Relative Stoxx Utilities i) -92 59 Relative Stoxx Travel & Leisure -98 -100 -100
Relative Stoxx Utilities 65 6 2

Source: BofA Merrill Lynch Global Research, Bloomberg

Source: BofA Merrill Lynch Global Research, Bloomberg

We think 2017 is another year where investors will need to be nimble. Markets have
responded enthusiastically to a prospective Trump Presidency but as the above charts
suggest we may well have discounted much of it. That is also supported by our fixed
income and FX forecasts, which suggest much has already been priced in. In addition we
have political risk starting with next weekend’s Italian referendum stretching to the
German elections in Autumn 2017. In the middle we have the crucial French elections. A

Bankof America

Merrill Lynch European Equity Strategy | 01 December 2016 5

HOUSE_OVERSIGHT_014464
"
TEXT-002-HOUSE_OVERSIGHT_032792.txt,"From: Alireza Ittihadieh 
Sent: 7/24/2018 7:57:33 PM 
To: JEFF EPSTEIN [jeevacation@gmail.com] 
Subject: Re: 
Importance: High 
Let's keep our friendship and talk politics, you are after free information and I NO longer provide free 
information. 
V-BR 
Alireza ITTIHADIEH 
From: jeevacation@gmail.com 
Sent: 24 July 2018 21:54 
To:________________________________ 
Subject: 
if you can, send me the spec on the bbj, with calendar dates for next few checks. . as you can see trump 
now said he wants a deal with iran. nuts 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032792 
"
IMAGES-008-HOUSE_OVERSIGHT_026064.txt,"From:

Sent: 2/8/2017 10:20:59 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Edmond de Rothschild Infrastructure Expertise

Importance: — High

If it s a debt fund , they were thinking of building it around senior and mezzanine debt which would yield 8 to
10% per yr with a kicker

Ariane de Rothschild

On 8 Feb 2017, at 12:59, jeffrey E. <jeevacation@gmail.com> wrote:

thanks, the issue will be returns on investment. . there is a HUGE amount of cash sitting on the
sidelines. trump will want to do private public partnerships on most things. . donald loves the
rothschild name.

On Wed, Feb 8, 2017 at 7:23 AM, EL HACHEM Johnny Po wrote:

Dear Jeff,

As previously discussed between you and Ariane, Edmond de Rothschild is deeply involved in the building and
financing of the infrastructure in Europe. Edmond de Rothschild has an outstanding track record, history and
presence in European infrastructure, as well as being one of Europe’s most recognized financial advisors to
the infrastructure market. We have developed deep expertise in the infrastructure sector and sought secure,
well-managed assets, generating stable, long-term returns for investors.

We have done so by initiating and backing two experienced and highly-respected managers in the industry,
TIIC and BRIDGE. TIIC is an equity investor in transport and social infrastructure. BRIDGE is an infrastructure
debt provider. Both managers are covered in more detail below. Edmond de Rothschild has been heavily
involved in the launch of the below funds, providing crucial support in fund structuring, due diligence, capital
raising, legal & compliance functions as well as the sound governance and ESG management across all funds.
Partnering with TIIC and BRIDGE has enabled Edmond de Rothschild to build a strong franchise within
infrastructure investments, complementing its overall Private Equity offering. Edmond de Rothschild has also
acted as anchor investor for these funds, demonstrating its strong alignment of interest with these
investment teams. With Ariane we strongly believe that we should absolutely find a way to collaborate
together with you to think and initiate something to serve the future needs of the US in the infrastructure
field.

Please find attached further information on each manager. This would also be a chance for us to explore
opportunities of working together in the future.

Please feel free to reach out to us if you require any further information. We look forward to hearing from
you soon.

HOUSE_OVERSIGHT_026064
"
IMAGES-010-HOUSE_OVERSIGHT_029835.txt,"From: Roy Black

Sent: 4/28/2016 4:47:41 PM
To: jeffrey E. [jeevacation@gmail.com]; Alan M. Dershowitz ee. Jack Goldberger
Subject: RE: Reuters / lawsuit against Jeffrey Epstein

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Thursday, April 28, 2016 12:39 PM

To: Alan M. Dershowitz; Roy Black; Jack Goldberger
Subject: Fwd: Reuters / lawsuit against Jeffrey Epstein

n--------- Forwarded message ----------

From: Martin Weinberg ti‘ CS

Date: Thu, Apr 28, 2016 at 12:20 PM

Subject: Fwd: Reuters / lawsuit against Jeffrey Epstein

To: Jeff Epstein <jeevacation@gmail.com>

Begin forwarded message:

From:

Date: April 28, 2016 at 12:14:37 PM EDT

To:

Subject: RE: Reuters / lawsuit against Jeffrey Epstein

Sorry, the suit is attached to this email.

From: Ingram, David (Reuters News)

Sent: Thursday, April 28, 2016 12:14 PM

To: ‘Martin G. Weinberg’

Subject: Reuters / lawsuit against Jeffrey Epstein

Hi Marty,

The attached lawsuit was filed this week in federal court in California alleging that Jeffrey Epstein and another
man, Donald Trump, raped her in 1994. We’re planning to publish a story on the suit this afternoon, and we
want to make sure it is fair. Is Mr. Epstein available to speak? Or do you want to offer a comment on this
behalf?

My number er 0UUCOY and I’m available any time. I also just tried your cell phone.

Thank you in advance.

David Ingram

HOUSE_OVERSIGHT_029835
"
IMAGES-012-HOUSE_OVERSIGHT_033044.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 9/30/2017 9:46:50 PM
To: Larry Visoski
Subject: Re: STT

no hes going to pr only maybe pence on fri

On Sat, Sep 30, 2017 at 1:43 PM, Larry Visoski <P wrote:

Jeffrey
I hear Pres Trump arrives in St Thomas on Tuesday FYI

Thx
Larry

Sent from my iPhone

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033044
"
IMAGES-003-HOUSE_OVERSIGHT_015333.txt,"In October 2008, Loughner told an old friend, Bryce Tierney, that he
wasn’ t going to smoke marijuana any more. Tierney never saw him
smoke pot again, and was surprised at media reports that Loughner was
rejected by the Army in 2009 for failing a drug test: “He was clean...| saw
him after that continuously. He would not do it...After he quit, he was just
off the wall."" But Loughner did not fail a drug test that day at the
processing station. Rather, he admitted on an application form that he had
smoked marijuana “hundreds of times.” He didn’ t know that the
military has an official maximum of times you can admit to smoking pot.

A journalist | know acknowledges that he tried to join the Air Force
at the San Diego recruitment office, but, “When the subject of drugs
came up, | figured, okay, | have long hair, | look maybe homeless, they're
going to know I'm lying if | say I've always been straight. I'll say I've
smoked pot seven or eight times--something ridiculously, embarrassingly
low. Whatever it was, it was too high. The recruiter said. ‘You can't have
smoked more than five times. Go away, kid. Maybe the Marines will take
you.’ Two weeks later | was at the Sacramento recruitment office and |
had the ‘magic number.’ | joined the Air Force. One of the stupider
things I've done.”

Indeed, Chris Hedges wrote on 7ruthDig. “Power does not rest with

HOUSE_OVERSIGHT_015333
"
TEXT-001-HOUSE_OVERSIGHT_023427.txt,"From: Michael Wolff 
Sent: 9/24/2014 12:06:54 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Highlight 
_______________________________________________________________________1 
Importance: High 
Fab! And tomorrow? 
On Tuesday, September 23, 2014, jeffrey E. <jeevacation@gmail.com> wrote: 
clinton woody kagan, do not add one penny to budget 
On Tue, Sep 23, 2014 at 6:17 PM, Lisa New 1111111M1> wrote: 
That was fun- definitely the highlight of a day that was not without other interesting moments 
Don't know which was better-- the wholly unexpected surprise reminder (by a prime minister) of my 
boyfriend from 1976( who was in high school, who lived with his doting parents), or, getting creamed on my 
producer's budget but then offered the opportunity to profess poetry for production funds . There may be 
someone as good in New York, but i'll never tell you and you really have a heck of a seminar table there. 
When do we do Whitman's ""Song of Myself"" 1-15 Who else is reading with us? I'm ready. 
A few other follow ups: 
David and Brigid point out that reality tv doesn't cost anything because it is, as it sounds, very low budget. 
No writing , no special expertise or knowledge or research , no archival footage , no copyright clearance , no 
actors, no travel beyond the one location, certainly no clinton or woody allen or justice elena kagan or david 
brooks or Lena Dunham or even Professor New. That said , I think If were hiring the crew id do it for less --
probably 1, 250,000 all in. But I haven't won 10 Emmys and David has . That has value too. As does Wgbh. 
But I'll be more prepared for the next conversation and want to be much more prepared for templeton, so 
thank you. 
I really liked Michael. I would like to send him some stuff, but in googling him I noticed that we have the 
same birthday! May I have his email? 
You are in! Yeay! Lets see what this may mean? I'll improve my numbers and you'll improve your deep 
reading ? 
Sent from my iPhone 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
HOUSE OVERSIGHT 023427 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 023428 
"
IMAGES-007-HOUSE_OVERSIGHT_024150.txt,"Eurozone equities

Euro Stoxx (27 June): 217 (last month: 215)
UBS View Euro Stoxx (6-month target): 223
¢ The crisis in the Eurozone will remain the main driver in the coming months. After the elections in
Greece, progress on the reform program will be closely monitored. Spain and Italy will also remain in the
spotlight with levels of government bond yields too high for being sustainable.
¢ With the sovereign debt crisis dragging on we expect the Eurozone market to stay highly volatile in
coming months.
e Economies in peripheral countries increasingly feel the burden of austerity. The economic weakness
affects company earnings negatively. Analysts’ earnings growth forecasts (consensus) for 2012 have come
down to about 3% for this year, but we see this as still too high against the weak economic backdrop.
¢ All in all, the ongoing risks stemming from the sovereign debt crisis lead us to the view that Eurozone
equities will underperform other major markets.

A Positive scenario Euro Stoxx (6-month target): 275
¢ Global economic growth reaccelerates and Eurozone growth shows clear signs of bottoming out,
enabling 2-4% earnings growth over the rest of the year. The trailing P/E ratio could re-rate to 12x from
the current reading close to 10x.

& Negative scenario Euro Stoxx (6-month target): 165
¢ Europe slides into a deep recession, and the debt crisis leads to severe pressure on Spain and Italy. In a
major crisis, earnings could fall by 10% to 15% from current levels until year-end, and the trailing P/E ratio
could drop to 8.5x by the end of 2012.

Note: Scenarios refer to global economic scenarios (see slide 7)

What we're watching Why it matters

Growth indicators Economic growth indicators provide information on the development of a
potential Eurozone recession. Key dates: 2 July, Final PMI manufacturing
Eurozone, Germany, France for June; 24 July, Flash PMI Eurozone,
Germany, France for July; 25 July, IFO business climate Germany
Decisions by European politicians and the ECB affect the course of the debt crisis.
Key dates: 5 July, ECB meeting

Earnings reports of the Euro Stoxx companies. Key dates: Mid July until mid
August

Policy action

Earnings season

36 UBS

Preference: underweight

Recommendations

Tactical (6 months)

We continue to recommend defensive
sectors. We like Consumer Staples and
Healthcare.

We also like the Energy sector, where the
valuation is very attractive.

Because of risks stemming from the
sovereign debt crisis, we keep a cautious
stance on Financials — especially Banks
and diversified Financials.

pitnegeve (1 to 2 years)

For investors with a multiyear horizon,
we believe there are attractively valued
opportunities in core Europe (see also
slide 21).

Our sector stance in the Eurozone

Sectors
Consumer Discretionary
Consumer Staples

Energy

T

Financials
Healthcare

ndustrials

Telecom

Utilities

Eurozone

4

aterials

~e;/e<_|/vjviulule;aulau

Source: UBS CIO, as of 28 June 2012

Note: Past performance is not an indication of future returns.

15

For further information please contact CIO's asset class specialist Markus Irngartinger, markus.irngartinger@ubs.com

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_024150
"
IMAGES-004-HOUSE_OVERSIGHT_017722.txt,"Page 8 of 52
2005 B.Y.U.L. Rev. 835, *848

with state statutes and constitutional provisions that seek to guarantee victims' rights. However, these efforts have failed to fully
safeguard victims’ rights. These significant state efforts simply are not sufficiently consistent, comprehensive, or authoritative
to safeguard victims' rights. ©

To place victims’ rights in the Constitution, victims advocates - led most prominently by the National Victims Constitutional

Amendment Network % - approached the President and Congress regarding a federal amendment. © On April 22, 1996,
Senators Kyl and Feinstein with the backing of President Clinton introduced a federal victims' rights amendment. © The
amendment was intended to ""restore, preserve, and protect, as a matter of right for the victims of violent crimes, the practice of
victim participation in the administration of criminal justice that was the birthright of every American at the founding of our
Nation."" ©” A companion resolution was introduced in the House of Representatives. ©8 The proposed amendment embodied
seven core principles: (1) the right to notice of proceedings, (2) the right to be present at the proceedings, (3) the right to be
heard, (4) the right to notice of the defendant's [*849] release or escape, (5) the right to restitution, (6) the right to a speedy
trial, and (7) the right to reasonable protection. In a later resolution, an eighth principle was added: the right to standing to
enforce these rights. ©? The 104th Congress did not pass the amendment.

On January 21, 1997, the opening day of the first session of the 105th Congress, Senators Kyl and Feinstein reintroduced the
victims’ rights amendment. ™ A series of hearings were held that year in both the House and the Senate. 7! Kyl and Feinstein
reintroduced the amendment the following year. 7* The Senate Judiciary Committee held hearings 73 and passed the proposed
amendment out of committee. 4 Yet again, the full Senate did not consider the amendment.

In 1999, Senators Kyl and Feinstein again proposed the amendment, > and on September 30, 1999, the Judiciary Committee
voted, as before, to send the amendment to the full Senate. 7 But on April 27, 2000, after three days of floor debate, the
amendment was shelved when it became clear that its opponents, who objected to constitutionalizing victims’ rights, possessed

the necessary votes to sustain a filibuster. 77 At the same time, hearings on the companion measure were held in the House. 7°

® Focusing on the Administration of Justice and the Enforcement of Laws: Dep't of Justice Oversight Hearing Before the S. Judiciary
Comm., 104th Cong. 23-24 (1997) (statement of Janet Reno, Att'y Gen. of the United States).

See hitp://www.nvean.org. See generally Twist, supra note 2.

6 For a comprehensive history of victims' efforts to pass a constitutional amendment, see Twist, supra note 2.
6 §.J. Res. 52, 104th Cong., 2d Sess. (1996).

67 §, Rep. No. 108-191, at 1-2 (2003); see also S. Rep. No. 106-254 (2000).

68 H.R.J. Res. 174, 104th Cong., 2d Sess. (1996).

See S.J. Res. 65, 104th Cong., 2d Sess. (1996).

7 $.J. Res. 6, 105th Cong., 1st Sess. (1997).

71 See, e.g., Victims' Rights Amendment: Hearings Before the Sen. Judiciary Comm., 105th Cong., 2d Sess. (1997).
2 §.J. Res. 44, 105th Cong., 2d Sess. (1998).

7% Victim's Rights Amendment: Hearings Before the Sen. Judiciary Comm., 105th Congress (1998).
7 See 144 Cong. Rec. $11,010 (daily ed. Sept. 28, 1998) (statement of Sen. Kyl).

7 §.J. Res. 3, 106th Cong., 1st Sess. (1999).

76 146 Cong. Rec. $2966 (daily ed. Apr. 27, 2000).

77 See id.

78 H.R.J. Res. 64, 106th Cong., Ist Sess. (2002).

DAVID SCHOEN

HOUSE_OVERSIGHT_017722
"
IMAGES-004-HOUSE_OVERSIGHT_018411.txt,"So though no inherent enmity exists between the two countries, a crack emerges.
Each side finds reasons not to cooperate. A shared interest in peace - neither side
wants a collision, both understand the costs - is shimmied apart by a perception
gap. Cultural, historical, temperamental and ideological differences accelerate the
unzipping of even the best intentions. Misunderstanding bends and then snaps
irrevocably into mistrust. So yes, the recovered islands and the trade tensions and
the political theories have to be managed because each is a blister that limits
forward motion - but the real source of friction? It is the scraping of different world
views. This is deep strategic misalignment. It is, in fact, the stuff of war.

In recent years, America has had two different, nearly opposite approaches to China,
each however marked by an assured national confidence that the current world
order is sustainable. One policy is short-handed as “engagement” - or, colloquially,
“panda hugging.” As China becomes more prosperous, this approach suggests, she
will become more congenial to American interests. More cuddly. This was, for some,
the basis for bringing China into the World Trade Organization in the 1990s. Later it
justified deep commercial links and educational ties. The logic of such an approach
fit the mindset of many baby-boomer Americans: China’s attraction to MTV,
McDonalds and Mercedes hinted at a still deeper desire they thought. To be
Western. China’s citizens would surely become more attracted and committed to the
world system that had delivered all this prosperity. The country would become
more global, in a sense, and /ess Chinese.

In fact, as China has grown in recent years she has become more global and more
Chinese. Growth, wealth, an admixture of confidence into the old national habit of
insecurity - all of these have encouraged a searching exploration. The demands of
domestic politics, the instincts of the Chinese Communist Party and the inevitable
practical questions of security and reform all produce sensible questions. China
needs oil, for instance. Must she project power into the Middle East? Control the sea
lanes of the Malacca Straits? There’s no natural, inherent resistance to American
interests in any one problem, but that hopeful American logic of “engagement”
ignores much about China’s essence. The country presses at rules she mistrusts (as
America once did). She struggles with the inevitable challenges of a political system
still smoking a bit from recent revolutions - and, of course, facing the pressures of a
networked age. But she holds, strongly, a sense of Chineseness. Can we honestly
expect to use mere prosperity to change China in a predictable, pro-American way?
“Engagement” feels to Chinese like a demand to become more American. That
prospect is as appealing as a request to become more Chinese would be for
Americans.

An alterative strategy to “engagment” is known as “containment”. (While not
formally called “Panda Kicking”, this is often what this policy looks like.) This view
takes it for granted that as China becomes more powerful she will become a threat.
Any growth in Chinese power means a decline in America’s influence and security. A
stronger China in Asia, for instance, means a weaker America. Countries like Japan
or Korea or the Philippines will be required to choose a side at some point, at some
awful 21st Century Melian moment. The aim of containment is to squelch China

179

HOUSE_OVERSIGHT_018411
"
IMAGES-007-HOUSE_OVERSIGHT_022521.txt,"also were not in compliance with the company’s internal
policies, which provided that charitable donations gener-
ally should be made to healthcare institutions and relate to
the practice of medicine.’”

Proper due diligence and controls are critical for
charitable giving. In general, the adequacy of measures
taken to prevent misuse of charitable donations will depend
on a risk-based analysis and the specific facts at hand. In
Opinion Procedure Release No. 10-02, DOJ described the
due diligence and controls that can minimize the likelihood
of an FCPA violation. In that matter, a Eurasian-based sub-
sidiary of a U.S. non-governmental organization was asked
by an agency of a foreign government to make a grant to
a local microfinance institution (MFI) as a prerequisite to
the subsidiary’s transformation to bank status. The subsid-
iary proposed contributing $1.42 million to a local MFI to
satisfy the request. The subsidiary undertook an extensive,
three-stage due diligence process to select the proposed
grantee and imposed significant controls on the proposed
grant, including ongoing monitoring and auditing, ear-
marking funds for capacity building, prohibiting compen-
sation of board members, and implementing anti-corrup-
tion compliance provisions. DOJ explained that it would
not take any enforcement action because the company’s due
diligence and the controls it planned to put in place sufficed
to prevent an FCPA violation.

Other opinion releases also address charitable-type
grants or donations. Under the facts presented in those
releases, DOJ approved the proposed grant or donation,'™
based on due diligence measures and controls such as:

e certifications by the recipient regarding compliance
with the FCPA;!

e due diligence to confirm that none of the recipient’s
officers were affiliated with the foreign government
at issue;1

* arequirement that the recipient provide audited
financial statements;!°

* awritten agreement with the recipient restricting

the use of funds;'”

® steps to ensure that the funds were transferred to a

valid bank account;!”

19

e confirmation that the charity's commitments were

109 and

met before funds were disbursed;
* on-going monitoring of the efficacy of the
program.!!°
Legitimate charitable giving does not violate the
FCPA. Compliance with the FCPA merely requires that
charitable giving not be used as a vehicle to conceal pay-

ments made to corruptly influence foreign officials.

Five Questions to Consider When Making
Charitable Payments in a Foreign Country:

1. What is the purpose of the payment?

2. Is the payment consistent with the company’s
internal guidelines on charitable giving?

3. Is the payment at the request of a foreign official?

4. Is a foreign official associated with the charity
and, if so, can the foreign official make decisions
regarding your business in that country?

5. Is the payment conditioned upon receiving
business or other benefits?

Who Is a Foreign Official?

The FCPA’s anti-bribery provisions apply to corrupt
payments made to (1) “any foreign official’; (2) “any foreign
political party or official thereof”; (3) “any candidate for
foreign political office”; or (4) any person, while knowing
that all ora portion of the payment will be offered, given, or
promised to an individual falling within one of these three
categories.'' Although the statute distinguishes between a
“foreign official, “foreign political party or official thereof?
and “candidate for foreign political office” the term “for-
eign official” in this guide generally refers to an individual
falling within any of these three categories.

The FCPA defines “foreign official” to include:

any officer or employee of a foreign government or

any department, agency, or instrumentality thereof,

HOUSE_OVERSIGHT_022521
"
IMAGES-008-HOUSE_OVERSIGHT_024673.txt,"A

>

KR
I

P

FAL CHAPTER Ill Cannabis Industry Segmentation
potency, moisture content and the presence of contaminants, such as residual solvents, heavy met-
als, mycotoxins, microorganisms and pesticides. Testing, labeling and certification requirements vary
widely across jurisdictions, but increasingly are being required by state law and demanded by supply-
chain intermediaries and consumers. Uniform standards for testing and reporting are expected to
emerge as scientific understanding of cannabis increases and as industry consensus about cannabis-
related health and safety concerns develops.

Providers of extraction, manufacturing and testing services generally must obtain state and local
cannabis licenses and are exposed to risks related to federal legal violations.

Composition and Potency

Laboratories ordinarily test cannabis for the specific amounts of 10 to 15 cannabinoids and more than
30 terpenes. Cultivators and production intermediaries rely on these test results to identify and track
cannabis varieties and to monitor the quality and consistency of production methods. Retailers and
consumers use test results information to assist in purchasing decisions. Almost all consumer products
now include labeling that, at a minimum, indicates the amounts of THC and CBD.

Pesticides

Controlling and disclosing the presence of pesticides in cannabis products is increasingly becoming
a focus of regulators and producers. Even cannabis grown under organic conditions can be exposed
to pesticides inadvertently, so many states now require all cannabis products to be tested by a state-
licensed laboratory for pesticides. Pesticides can be especially problematic in cannabis concentrates;
studies have shown extraction processes may concentrate pesticides at a rate higher than cannabinoids
and terpenes.

Microbiological Organisms

Certain molds, other fungi and bacteria found in and on the cannabis plant can damage the plant
or certain cannabis products and can be harmful if consumed by humans. Mold is a problem most
commonly found in indoor growing environments and during the cannabis drying and curing process.
Organisms found in cannabis and identified by testing includes aspergillus, salmonella, pseudomonas
and E.coli.

Residual Solvents

Most extraction processes use solvents to extract the active compounds from cannabis plant material.
Commonly used solvents include butane, carbon dioxide, ethanol or propane. Residual solvents are
those trace amounts of solvents that remain in a cannabis concentrate after the extraction process.
Some residual solvents can be harmful if consumed by humans in sufficient amounts, and others
should not be consumed in any amount.

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC S7

HOUSE_OVERSIGHT_024673
"
IMAGES-009-HOUSE_OVERSIGHT_027733.txt,"Sender: e:jeeitunes@gmail.com

Time: 05/31/19 04:56:59 AM (580996619)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 71754283-4E1C-4B6C- 94E4-FC2DC04 6BFEE

Message: That my boy

Sender: e:jeeitunes@gmail.com

Time: 05/31/19 06:54:44 AM (581003684)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 88D36910-5E13-4A2C-8044-7BDF47333662

Message: What time do you land tome?

Sender: e:jeeitunes@gmail.com

Time: 05/31/19 06:54:48 AM (581003688)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: D863C322-DF5F-4224-9B9B-4FD126F8B985

Message: Tomorrow?

Time: 05/31/19 04:02:42 PM (581036562)
Flags: 1126401
Is Read: Yes

Is Invitation: No

r

GUID: 6950B8AE-2F53-43D0-AD10-1CE3267CCEEFE

Message: 1 pm @ your place @ 2 pm to film

Sender: e:jeeitunes@gmail.com

Time: 05/31/19 04:18:32 PM (581037512)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 194F423A-9E22-49EB-B21C-238397B01106

Message: done

Sender: e:jeeitunes@gmail.com

Time: 05/31/19 04:25:05 PM (581037905)

HOUSE_OVERSIGHT_027733
"
IMAGES-006-HOUSE_OVERSIGHT_021461.txt,"Automated Serial Permanent Charge-Out
FD-5a (1-5-94)

Date: 02/14/08 Time: 13:28
Case ID: 31E-MM-108062 Serial: 89
Description of Document:

Type : OTHER
Date : 08/02/06

From : US DIST COURT bs

Topic: SUBPOENA TO TESTIFY BEFORE GRAND JURY.
Reason for Permanent Charge-Out:

‘serialized in the wrong file
Transferred to:

Case ID: 31E-MM-108062-GJ Serial: 39

Employee:
b6
b7c

Brig - HH-(0%002 - 34
~ HOUSE_OVERSIGHT_021461

"
IMAGES-009-HOUSE_OVERSIGHT_028400.txt,"9"", ""inlineTextstyles"": [{""range""s{""Length"":432,""start"":0}, ""texts

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body"", ""role"": ""body"", ""text"":""And in an extraordinary public rela
Kavanaugh is set to make his first televised remarks about the allegations in an
appearance on Fox News on Monday night that airs at 7 p.m. He and his wife,

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Ashley

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HOUSE_OVERSIGHT_028400
"
TEXT-001-HOUSE_OVERSIGHT_023433.txt,"From: Michael Wolff______________________ 
Sent: 9/25/2014 1:47:51 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Highlight 
Importance: High 
See you at 1:00.... 
On Tue, Sep 23, 2014 at 8:06 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
thurs 1 
On Tue, Sep 23, 2014 at 8:04 PM, Michael Wolff <1.111' wrote: 
What time??? 
On Tuesday, September 23, 2014, jeffrey E. <jeevacation@gmail.com> wrote: 
clinton woody kagan, do not add one penny to budget 
On Tue, Sep 23, 2014 at 6:17 PM, Lisa New <1111> wrote: 
That was fun- definitely the highlight of a day that was not without other interesting moments 
Don't know which was better-- the wholly unexpected surprise reminder (by a prime minister) of my 
boyfriend from 1976( who was in high school, who lived with his doting parents), or, getting creamed on 
my producer's budget but then offered the opportunity to profess poetry for production funds . There may be 
someone as good in New York, but i'll never tell you and you really have a heck of a seminar table there. 
When do we do Whitman's ""Song of Myself"" 1-15 Who else is reading with us? I'm ready. 
A few other follow ups: 
David and Brigid point out that reality tv doesn't cost anything because it is, as it sounds, very low budget. 
No writing , no special expertise or knowledge or research , no archival footage , no copyright clearance, 
no actors, no travel beyond the one location, certainly no clinton or woody allen or justice elena kagan or 
david brooks or Lena Dunham or even Professor New. That said, I think If were hiring the crew id do it 
for less -- probably 1, 250,000 all in . But I haven't won 10 Emmys and David has . That has value too. As 
does Wgbh . But I'll be more prepared for the next conversation and want to be much more prepared for 
templeton, so thank you. 
I really liked Michael. I would like to send him some stuff, but in googling him I noticed that we have the 
same birthday! May I have his email? 
You are in! Yeay! Lets see what this may mean? I'll improve my numbers and you'll improve your deep 
reading ? 
Sent from my iPhone 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
HOUSE OVERSIGHT 023433 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 023434 
"
IMAGES-003-HOUSE_OVERSIGHT_015327.txt,"And, Mr. President, that was the forerunner of the same “Don’ t
ask, don’ t tell” policy that you promised to rescind, only you haven’ t
been acting like a Commander-in-Chief. All you have to do is sign such a
directive. Those who serve in the military are trained to follow orders. If
they can follow orders to kill fellow humans, they can certainly follow
orders to treat openly gay service people with total equality.

Not only is the current guideline counterproductive, but also this
display of trickle-down immorality must, on some level of consciousness,
serve as a contributing factor to enabling the anti-gay bullying and
torturing of innocent victims. | know, you don’ t want to take a chance
that retracting the policy would interfere with your re-election. You’ ve
made the point that you don’ t want Mitt Romney to win in 2012 and turn
around all the good things you’ ve accomplished.

Incidentally, Romney had wanted to overturn Roe vs. Wade, yet, in
1994, when he was running for the Senate, he came out in favor of choice
for women. However, freelance journalist Suzan Mazur revealed that he
admitted to Mormon feminist Judith Dushku that “the Brethren” in Salt
Lake City to/d him he could take a pro-choice position, and that in fact he
probably had to in order to win in a liberal state like Massachusetts.

Pandering trumps religious belief.

HOUSE_OVERSIGHT_015327
"
IMAGES-012-HOUSE_OVERSIGHT_033050.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 12/2/2017 5:13:28 PM
To: Richard Kahn
Subject: Re:

Attachments: IMG_4779.jpg

schwartman

On Sat, Dec 2, 2017 at 11:52 AM, Richard Kahn iE wrote:

Trump in your neighborhood today. Looks like he is going to 740 Park for a fundraiser.

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue, 4th Floor
New York, NY 10022

Phone

Fax

Cel

HOUSE_OVERSIGHT_033050
"
IMAGES-007-HOUSE_OVERSIGHT_024144.txt,"Key financial market driver 2 - US policy

Key questions

e Will the economic outlook deteriorate? Will QE3 become necessary?

e How will the election outcome change fiscal policy deliberations?

© Can politicians find an agreement to avoid sharp fiscal contraction in early 2013 (""fiscal cliff"")?

CIO View (Probability: 65%*) No QE3, political gridlock and some fiscal tightening
¢ The economy stays on a moderate growth path, coupled with stable core PCE inflation close to the Fed’s
target of 2%. UBS forecasts real GDP growth of 1.5% in 2Q 2012 (consensus: 2.1%) and 2.3% in 3Q 2012
(consensus: 2.4%), with some downside risk due to rising uncertainty. The Fed has decided to extend so
called ""Operation Twist"" until the end of the year. More near-term monetary easing is still possible, but it
is currently not our central scenario.

¢ In the elections, Republicans will likely lose seats in the House overall, but retain a majority; we also
expect them to win a narrow majority in the Senate. Obama will likely retain the White House. Such an
electoral outcome would confirm the existing gridlock between Republicans and Democrats.

e Against the backdrop of ongoing political gridlock, we expect only moderate fiscal tightening of about
0.9% of GDP in 2013. The government will likely let unemployment benefits and the payroll tax cut expire,
but postpone income tax hikes and sequestration spending.

A Positive scenario (Probability: 10%*) No QE3, Democratic sweep and more fiscal tightening

¢ Propelled by ultra-expansive monetary policy and improved confidence, cyclical forces surmount the
structural hindrances and thus growth accelerates. More rapid growth leads to higher inflation, and the
Fed responds by tightening monetary policy sooner.

¢ The improved economic outlook raises the odds for an Obama re-election and makes it harder for
Republicans to win a majority in the Senate. US fiscal consolidation efforts are facilitated by faster rising
tax collections. A Democratic stronghold leads to some tax hikes and limited spending cuts. Fiscal policy
tightens by about 1.2% of GDP in 2013.
Negative scenario (Probability: 25%*)
¢ Structural hindrances dominate and weigh on the cyclical recovery, thus growth weakens or turns
negative. The Fed embarks on QE3, most likely in the form of agency MBS and Treasury purchases.

e Weaker economic conditions raise the odds for a larger Republican majority in Congress, but Obama
remains President. The debt limit is reached earlier and the Treasury runs out of money before year-end.
The political gridlock becomes dysfunctional, thus fiscal policy tightens by USD 600 billion (3.7% of UBS
estimate of 2013 GDP) in 2013 (“fiscal cliff”). The US credit rating is downgraded.

QE3, political dysfunction and huge fiscal tightening

Key dates

2 July ISM manufacturing PMI for June

6 July Nonfarm payrolls and unemployment rate for June
6 Nov US Presidential and Congressional elections

36 UBS

US moderate growth to continue

US real GDP and its components, quarter-over-quarter
annualized in %

q/q annualized UBS CIO
forecasts

2%
4%
6%
8%
-10%
-12%

Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012

Commercial real estate investment
Residential investment

Net Exports

Real GDP (q/q annualized)

mi Consumption

mi Capital expenditures
@ Inventories

li Government

Source: Thomsen Datastream, UBS CIO, as of 20 June 2012

US fiscal cliff at year-end 2012

Fiscal effects of change in provisions under current law, USD
billion annualized

1Q13  2Q13 3Q13 4Q13 CY2013

a
5

-68 = 6) = 16) 70)

S15 NA Bleu

ie) -374  -125 ae) fe
-94 114-114-114 -109

a
KR

aly aly aly any aoe
-433 -847  -587)— -534 -600

Source: Goldman Sachs, UBS CIO, as of 20 June 2012
* Scenario probabilities are based on qualitative assessment.

Note: Past performance is not an indication of future returns.

For further information please contact US economist Thomas Berner, thomas.berner@ubs.com 2

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_024144
"
IMAGES-004-HOUSE_OVERSIGHT_017736.txt,"Page 22 of 52
2005 B.Y.U.L. Rev. 835, *871

must review that [*872] statement. !7? Finally, before an Arizona court accepts a plea, the prosecutor must advise the court

that reasonable efforts were made to confer with the victim about the plea and the victim's view regarding it. !74

The rule proposed here is narrower than these state formulations: it requires only that a prosecutor confer with the victim about
the plea and inform the court if the victim objects. For many significant categories of federal cases (e.g., typical drug
trafficking offenses, felons in possession of a firearm, etc.), there will be no victim, much less a victim objection. In such cases,
to require some sort of victim inquiry by the court or victim certification by the prosecutor would unnecessarily waste time.
The proposed rule requires only that the prosecutor report a victim's objection - in which case the court will presumably want to
more carefully consider whether to accept a plea.

Rule 12.1 - Victim Addresses and Phone Numbers Not Disclosed for Alibi Purposes
The Proposal:

The Government currently must disclose the address and telephone numbers of any witnesses, including the victim, that it
plans to use to disprove an alibi. This rule should be changed to protect the victim's privacy, excluding their information from
this requirement.

(b) Disclosing Government Witnesses.

(1) Disclosure. If the defendant serves a Rule 12.1(a)(2) notice [regarding intent to present an alibi defense], an attorney for the
government must disclose in writing to the defendant or the defendant's attorney:

(A) the name, address, and telephone number of each witness and the address and telephone number of each witness (other than
a victim) that the government intends [*873] to rely on to establish the defendant's presence at the scene of the alleged
offense; and

(B) each government rebuttal witness to the defendant's alibi defense

(c) Continuing Duty to Disclose. Both an attorney for the government and the defendant must promptly disclose in writing to
the other party the name of each additional witness, and the address and telephone number of each additional witness (other
than a victim) if:

(1) the disclosing party learns of the witness before or during trial; and
(2) the witness should have been disclosed under Rule 12.1(a) or (b) if the disclosing party had known of the witness earlier.

In addition, a similar change should be made to Rule 12.3 regarding the addresses and telephone numbers of victims who will
be used to disprove a public-authority defense.

The Rationale:

This proposed change implements the victim's right to be ""reasonably protected from the accused."" !7> The victim cannot be
reasonably protected if the defendant, without good reason, is given the victim's address and telephone number. The proposed
rule strikes the current requirement that the prosecutor must automatically give the defendant the victim's address and telephone

'73 See id.

4 Ariz. Rev. Stat. Ann. 13-4423(b)(1) (2001).

115 18 U.S.C.A. 3771(a)(1) (West 2004 & Supp. 2005).

DAVID SCHOEN

HOUSE_OVERSIGHT_017736
"
IMAGES-008-HOUSE_OVERSIGHT_025579.txt,"Morgan Stanley | sesearcs NORTH AMERICA INSIGHT ~~

Appendix C: Notable Alt Reports: In Case You
Missed Them™%

Asset Managers & Brokers: 4Q17 Preview: Buy CG and ETFC into the Print (12 Jan 2018)

Raising Est on Tax Cuts & Strong Mkts, Upgrading APO and ETFC to Overweight (3 Jan 2018)

Asset Managers & Brokers: 2018 Outlook: Key Debates in a Year of Change (3 Jan 2018,

The Carlyle Group L.P.: Fundraising Ahead of Expectations; Buy the Dip (4 Dec 2017)

Alternative Asset Managers and Credit Strategy: Interest Deductibility at Risk: Game Changer for High Yield and Private Equity? (9 Nov 2017)

Alternative Asset Managers: C-Corp Conversion: To convert or not to convert, that is the question (6 Nov 2017)
Asset Managers & Brokers: Uncovering Long-Term Value with ESG (20 Sep 2017)

Global Asset Management: Building the Money Manager of Tomorrow (13 Sep 2017)

The Blackstone Group L.P.: Management Meeting Takeaways: Significant Runway for Growth (10 Aug 2017)

The Blackstone Group L.P.: Why Blackstone's ""Innovation Machine"" Suggests Upside to $60 Bull Case (24 Jul 2017)
The Carlyle Group L.P: Inflection Point for Carlyle Supports $40 Bull Case (12 Jul 2017)

Hamilton Lane Incorporated: Unique Play on Private Markets; Initiating at Overweight (27 Mar 2017)

Asset Managers & Wholesale Banks: The World Turned Upside Down (16 Mar 2017)

The Blackstone Group L.P.: $100 Billion Reasons to Thrive in Uncertainty: Mgmt Meeting Takeaways (10 Nov 2016)
Alternative Asset Managers: Who@Got Swimsuits? (19 May 2016)

Asset Managers: Convergence of Alts/Traditionals Multiple: Put This Chart on Your Wall (21 Jul 2019

US Asset Managers: Benchmark Inclusion of Alts: What If...? (22 Jan 2015)

US Asset Managers: Introducing *Core® Fee-Related Earnings (FRE) Metric (15 Jan 2015)

US Asset Managers: Cash In On the Harvesting Super-Cycle: Initiating on Alts: OW BX, KKR, OAK (19 Dec 2014)

HOUSE_OVERSIGHT_025579
"
IMAGES-004-HOUSE_OVERSIGHT_018405.txt,"The goals of Hard Gatekeeping are simple enough to state: To protect those inside
the gated order, to make security and innovation more efficient, to accelerate
certain kinds of connection and dampen others, to manage vulnerable links to the
non-gatekept world and - perhaps most important- to use that “in or out” leverage
to relentlessly affect the interests and plans of others. These aims are the root of real
security in any age. “In anarchy, security is the highest end,” Kenneth Waltz wrote.
“Only if survival is assured can states seek other goals such as tranquility, profit and
power.”247 Survival - and Waltz’s other essential aims - will be decided by the
nature of our future connection. In this sense, Hard Gatekeeping produces a decisive
change in our posture. It lets us aim for something instead of merely being against
movement or - hopelessly - against the future. It establishes priorities, clarifies our
real core interests, helps us budget our effort and our expenses — better, perhaps, to
spend atrillon dollars building tools of topological mastery like infrastructure or
new technology than chasing Middle East peace.**® Gatekeeping does not transcend
the long-standing debates between the cold realism of Stalin and the idealism of
Woodrow Wilson so much as it sets us a preliminary task: Shaping the environment.
To build and control the next generation of gatekept systems should be our aim
now. In the future paper currency wil be replaced by secure digital bit transactions.
Genetic information will demand smart, live-connected platforms for efficient
mining and study. Cyber and biological security will each come to be defined by
high-speed, machine-intelligent protocols. All of these are gatekept cores. Mastering
them will be as important as having military bases, trade missions or treaty
arrangements once was. The development of such systems plays to our strengths;
they deliver both security and useful pressures of innovation. Remember - the aim
isn’t to build walls. It is to use the logic of networks and gates, and all the complex
productive force they release.

Bs
The elements of Hard Gatekeeping can be stated simply enough:

First, Does it work for us? We seek a landscape of technology, trade, finance,
knowledge - all the tools of power - that balances the pressures of politics with a
colder grasp of longer-term national interest. The protocols, alliances, treaties and
data webs that enable markets, trade or thinking machines - all are gatelands we
can cultivate, improve and protect. Our gatelands must be designed to limit the
rippling risks of contagion or error moving wildly, like spring weather, inside linked
complex systems now. Control of topologies is what air superiority or sea mastery
once were. The opening attacks of future wars will come invisibly and silently
through networks, in space, in fast topological strikes — not with noisy land
invasions or bombing runs. Well-built gates will give us time and leverage. They will

247 “In anarchy”: Kenneth Waltz, Theory of International Politics, (Reading, MA:
Addison-Wesley, 1979), 126

248 It establishes: For a discussion about why a grand strategy is of practical use see
Hal Brands, “The Promise and Pitfalls of Grand Strategy,” Strategic Studies Institute,
External Associates Monograph Program, 2012

173

HOUSE_OVERSIGHT_018405
"
IMAGES-007-HOUSE_OVERSIGHT_022535.txt,"have stopped and quickly integrates Company B’s business lines into Company A's own robust internal controls, including
its anti-corruption and compliance policies, which it communicates to its new employees through required online and in-
person training in the local language. Company A also requires Company B’s third-party distributors and other agents to
sign anti-corruption certifications, complete training, and sign new contracts that incorporate FCPA and anti-corruption

representations and warranties and audit rights.

Based on these facts, would DOJ or SEC prosecute?

DOJ and SEC have declined to prosecute companies like Company A in similar circumstances. DOJ and SEC
encourage companies like Company A to conduct extensive FCPA due diligence. By uncovering the corruption, Company
A put itself in a favorable position, and, because the corrupt payments have stopped, Company A has no continuing
liability. Whether DOJ and SEC might charge Company B depends on facts and circumstances beyond the scope of this
hypothetical. DOJ would consider its Principles of Federal Prosecution of Business Organizations and SEC would consider
the factors contained in the Seaboard Report, both of which are discussed in Chapter 5. In general, the more egregious
and long-standing the corruption, the more likely it is that DOJ and SEC would prosecute Company B. In certain limited
circumstances, DOJ and SEC have in the past declined to bring charges against acquired companies, recognizing that

acquiring companies may bear much of the reputational damage and costs associated with such charges.

Scenario 2:

Company A plans to acquire Company B. Although, as in Scenario 1, Company A conducts extensive due diligence, it
does not uncover the bribery until after the acquisition. Company A then makes certain that the illegal payments stop and
voluntarily discloses the misconduct to DOJ and SEC. It quickly integrates Company B into Company A's own robust internal
controls, including its anti-corruption and compliance policies, which it communicates to its new employees through required
online and in-person training in the local language. Company A also requires Company B's third-party distributors and other
agents to sign anti-corruption certifications, complete training, and sign new contracts that incorporate FCPA and anti-

corruption representations and warranties and audit rights.

Based on these facts, would DOJ or SEC prosecute?

Absent unusual circumstances not contemplated by this hypothetical, DOJ and SEC are unlikely to prosecute
Company A for the pre-acquisition misconduct of Company B, provided that Company B still exists in a form that would
allow it to be prosecuted separately (e.g., Company B is a subsidiary of Company A). DOJ and SEC understand that no
due diligence is perfect and that society benefits when companies with strong compliance programs acquire and improve
companies with weak ones. At the same time, however, neither the liability for corruption—nor the harms caused by it—
are eliminated when one company acquires another. Whether DOJ and SEC will pursue a case against Company B (or, in
unusual circumstances, Company A) will depend on consideration of all the factors in the Principles of Federal Prosecution
of Business Organizations and the Seaboard Report, respectively.

Scenario 3:

Company A merges with Company B, which is in the same line of business and interacts with the same Foreign
Government customers, and forms Company C. Due diligence before the merger reveals that both Company A and
Company B have been engaging in similar bribery. In both cases, the bribery was extensive and known by high-level

management within the companies.

Based on these facts, would DOJ or SEC prosecute?

Yes. DOJ and SEC have prosecuted companies like Company C on the basis of successor liability. Company C is a
combination of two companies that both violated the FCPA, and their merger does not eliminate their liability. In addition,
since Company C is an ongoing concern, DOJ and SEC may impose a monitorship to ensure that the bribery has ceased

and a compliance program is developed to prevent future misconduct.

HOUSE_OVERSIGHT_022535
"
IMAGES-011-HOUSE_OVERSIGHT_030939.txt,"HOUSE_OVERSIGHT_030939
"
IMAGES-008-HOUSE_OVERSIGHT_024667.txt,"CHAPTER III
Cannabis Industry Segmentation

The nascent cannabis industry is often viewed by investors and others as a single, homogeneous indus-
try, in much the same way the “technology” industry was viewed in the early 1990s. As the technology
industry became more important to the global economy and was better understood by the investment
community, however, investment banks and other industry analysts tracked an increasing number of
discrete yet related industry segments. In the cannabis industry we are seeing a similar trend, which we
expect to continue as the industry evolves.

To help investors better evaluate investment opportunities in the cannabis industry, we currently
define five primary segments: production, distribution, consumer products, business solutions and
digital media. We further divide each segment into multiple subsegments. Each segment has unique
opportunities and risks. For example, companies that possess, manufacture or distribute cannabis
(commonly known as “touching the plant”) face risks related to violating federal law—and state-law
compliance obligations—not generally faced by providers of business software or digital media con-
tent. Many businesses operate in multiple segments, and we expect industry leaders to emerge in each
segment. The five primary segments and their subsegments are illustrated in the following chart.

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC 31

HOUSE_OVERSIGHT_024667
"
IMAGES-009-HOUSE_OVERSIGHT_027727.txt,"Message: ?

Time:

Flags:

05/26/19 11:36:28 PM

1060865

Is Read: Yes

(580631788)

6F22A6

ing it quite well

Is Invitation: No

GUID: 8DF345F0-4AF4—-4744-9C51-OF4D6A
Message: So far they and media spinn
Sender: e:jeeitunes@gmail.com

Time: 05/29/19 03:45:24 AM (580819524)
Flags: 1150981

Is Read: No

Is Invitation:

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Message:

No

14CF70FO-6A99-4A41-AD45-BA5411C74AB8

Sat afternoon??

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1060865

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(580820013)

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GUID: F2F9ER8E3-BD7D-4C35-837E-2 6CBB25325CA
Message: Yes

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Time: 05/29/19 08:59:09 AM (580838349)
Flags: 1150981

Is Read: No

EC2BFF

You guys can set up anytime before.

-and Sunday im

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GUID: 8900F02B-D252-439D-B8 90-6AD704!
Message: I will land at 1. Sat.

free

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Time: 05/29/19 09:06:40 AM (580838800)
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KA

Message: https://www.npr.org/2019/05/29/727724850/michael-wolffs-new-trump-tell-all

bannon-and-cast-of

sieg

stars-stev

ho-names

HOUSE_OVERSIGHT_027727
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Highlights His Drug Industry Career.

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t"":""ComponentLayout-—

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mponents"": [{""cap

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pharmaceutical company he led until stepping down to run for United States Sena
of New Jersey and former Gov.
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HOUSE_OVERSIGHT_028414
"
IMAGES-006-HOUSE_OVERSIGHT_021475.txt,"To: New York From: Miami . ©
Re: 31E-MM-108062, 08/17/2007

LEAD (s) :
Set Lead 1: (Info)
TAMPA
AT NEW YORK, NY
FBI Miami requests travel concurrence from FBI New York

to conduct witness interviews and serve target letters on
subjects.

++.

HOUSE_OVERSIGHT_021475

"
IMAGES-005-HOUSE_OVERSIGHT_019352.txt,"FEDERAL BUREAU OF INVESTIGATION
FOI/PA

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Civil Action# 17-cv-03956

5

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HOUSE_OVERSIGHT_019352
"
IMAGES-002-HOUSE_OVERSIGHT_014470.txt,"ae — a return to positive EPS growth
in 201

7% EPS growth in 2017 as global growth improves and Resources EPS recovers
We think the earnings backdrop will be supportive in 2017 with a return to positive EPS
growth in Europe for the first time since 2014 and with downside to consensus
forecasts for the year ahead that are well below average. Our base case assumes +7%
EPS growth in 2017 and 2018. With EPS broadly stagnant over the last 6 years,
investors might justifiably ask what is different this time. We see several reasons to
think mid to high single digit EPS growth is achievable next year.

Chart 25: Earnings revisions are currently modestly positive Chart 26: Broad based recovery in global growth (based on 29 PMIs)
20% 100%
10% 90%
0% 80%
70%
-10%
60%
-20% 50%
-30% 40%
40% si a
42/00 12/03 12/06 42109 42/12 12/15 soy, __—__—"" Pills 50 eee’ OF PMIG incimasing (last tn)
Stoxx 600 EPS revisions ratio (4 wk avg) ====13-week average 113 0384 O74 1144 03/15 O75 11/15 03/16 07/16
Source: BofA Merrill Lynch Global Research, Datastream, IBES Source: BofA Merrill Lynch Global Research, Markit, Bloomberg

Return to positive EPS growth feasible with global GDP at 3.5%... First, global
growth is accelerating and on our economists’ base case forecasts global GDP growth
will be 3.5%, the first materially above trend growth year since 2010. That is significant
for European earnings given a reasonably tight relationship to global GDP growth. 3%
represents the tipping point around which earnings growth tends to turn positive
according to our regression model. At the BofAML forecast of 3.5% global GDP growth,
7% EPS growth is implied as likely by the same model.

..as leading Indicators point to a synchronized global recovery. What gives us
confidence in this putative earnings recovery is the more synchronized nature of the
current recovery. All major regions of the world are showing momentum in growth
indicators for the first time in several years. One measure of the broad nature of the
improvement is manufacturing PMI surveys. Of 29 Markit PMIs 83% are currently above
50, highest since August 2014. More importantly, 79% have improved over the last 3
months — higher than at any point in the last three years.

Bull case of global GDP towards 4% would signal double digit EPS growth. To see a
more bullish outcome for EPS we would need to see global GDP accelerating further. Based
on our regression model, double digit EPS growth historically was consistent with global GDP
growth above 3.8%. Under our bull case scenario for 2017, with say 4.0% global GDP growth,
consensus EPS growth forecasts for +14% in Europe would become realistic.

PMs beyond 55 would suggest upside to base case. Significant further gains in
leading indicators would be a signal that earnings growth could exceed our base case.
Over the longer term EPS growth has followed manufacturing PMI surveys with a 9-
month lag approximately (using an average of US and Eurozone). Historically readings
above 55 were consistent with mid-teens EPS growth. The relationship has weakened in
recent years as low interest rates and weaker commodity prices weighed on earnings in
Financials and Resources. Nevertheless, in the last year of decent EPS growth in Europe
in 2014 the PMIs peaked at 54 so we would look for upside to our base case EPS
forecast should PMIs improve to the mid-50s level or beyond.

Bankof America <> :
Merrill Lynch European Equity Strategy |01 December 2016 =—-11

HOUSE_OVERSIGHT_014470
"
IMAGES-001-HOUSE_OVERSIGHT_011968.txt,"COMPOSITE
EXHIBIT |

HOUSE_OVERSIGHT_011968
"
TEXT-001-HOUSE_OVERSIGHT_027655.txt,"Source Entry:  H\Macintosh HD\ root\Users \ j ee\Library\Messages \Archive\2 0 1 9- 0 5- 0 6 \M 
on 2019-05-06 at 07.57.09.ichat 
Service: iMessage 
Start Time: 04/30/19 03:29:13 AM (578312953) 
End Time: 05/06/19 07:29:05 AM (578845745) 
Last Message ID: 28743 
Chat Room: 
Participants: jee, 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
Sender: 
Time: 04/30/19 03:29:13 AM (578312953) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 33933031-6F71-4E25-AB10-0065247D1F36 
Message: Turns out this was about Thursday not yesterday -- he is here then for dinner 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:40:23 AM (578313623) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 1408464A-EB93-4EA1-886A-60289DDDEC95 
Message: as i thought. 
eric and all employees, wow 
trump trying to stop deutsch bank only a matter of time. 
Sender: 
Time: 04/30/19 03:41:48 AM (578313708) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: A300F943-148F-4BC3-991D-767F95BBFC29 
Message: They won't be able to withhold the docs 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:42:31 AM (578313751) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2977EB20-FD68-480E-A0D1-CA190DEBC985 
Message: of course not. but the dive is s0000 deep. I read the filing 
HOUSE OVERSIGHT 027655 
Sender: 
Time: 04/30/19 03:42:47 AM (578313767) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: OF6145BC-81D9-4DAD-BF4A-0E9431F5A763 
Message: How so 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:43:18 AM (578313798) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: AFC21328-6E84-446D-A718-89C07FE779E6 
Message: all employees. partners. members, for 10 years. 
Sender: 
Time: 04/30/19 03:45:58 AM (578313958) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 056D1406-3565-4DF3-9E13-D9E6C52F6AE1 
Message: His strategy is drag this out for 15 months then it won't matter 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:47:03 AM (578314023) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: B1989893-30E5-43D7-A21F-3316E48ED44D 
Message: yes -- of course 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:48:41 AM (578314121) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: F4683E59-CE10-40CC-99B3-91E33122CCE2 
Message: yes, it is a race, they have also asked for too much. so to fully 
understand it will take forever, unless weissleburg leads them through it and that 
would require fed immunity , unlikely to be authorized by barr. nystate, is the key , 
Sender: e:jeeitunes@gmail.com 
HOUSE OVERSIGHT 027656 
Time: 04/30/19 03:49:19 AM (578314159) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: A199BAF5-DF1F-4E0D-B6E4-285314303Al2 
Message: again unless barr makes weiseblburg a material witness and keeps him away from 
ny . fun play 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:00:19 AM (578314819) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: D219E7B1-F27F-4894-9F67-BF8A1FBB1DE4 
Message: meeting in vienna went as i thought . their view was similar to mine. 
very . you can meet when you go to germany. 
Sender: 
Time: 04/30/19 04:35:13 AM (578316913) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 1129639D-44F0-403C-9767-FE562012682D 
Message: Similar as in 'nobody knows nothing' 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:36:02 AM (578316962) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: AB7ED54A-0602-44D3-BE93-387AFB961929 
Message: case weak not well done can keep them for years 
Sender: 
Time: 04/30/19 04:36:22 AM (578316982) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: DC436E18-27D5-4C86-B715-AAC9D1B0A382 
Message: Oh on that yes 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:37:44 AM (578317064) 
HOUSE OVERSIGHT 027657 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 99FADA82-A80C-41D4-87CE-C496480FA1DE 
Message: on another note if you like you can go to yemen and meet with heads . you 
have an invitation. 
Sender: 
Time: 04/30/19 04:38:06 AM (578317086) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 54A6A904-3310-4086-BF85-01301E6CDC1F 
Message: Would love it 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:38:12 AM (578317092) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: F0172529-968C-43ED-BF2D-2348B32135CC 
Message: have fun 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:38:28 AM (578317108) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: FC092DB1-5AA1-49C5-8625-1FAC2FA3D3E3 
Message: you should if you decide of course coordinate with pompeo 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:38:51 AM (578317131) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 7C037598-5311-4400-9F11-1327CA7017CC 
Message: but you will have access unlike others 
Sender: 
Time: 04/30/19 04:38:53 AM (578317133) 
Flags: 1060865 
Is Read: Yes 
HOUSE OVERSIGHT 027658 
Is Invitation: No 
GUID: 28947OFF-90AD-4A7F-929A-F8063847F4FC 
Message: Of course -- I'm sure it will be a resounding NO 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:39:19 AM (578317159) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 1D059485-BFB9-44E4-879C-3F75281EDC6C 
Message: I'm only F and B 
Sender: 
Time: 04/30/19 04:39:46 AM (578317186) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 778832F3-6754-45AC-997D-34531EDF3879 
Message: KSA wants everybody to stay away-- closer inspection only leads to more doubts 
/ head scratching 
Sender: ___________________ 
Time: 04/30/19 04:59:14 AM (578318354) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 4840BA85-965E-447E-BA8D-ABB0918E7692 
Message: Have you followed nick bostrom? 
Sender: 
Time: 04/30/19 04:59:25 AM (578318365) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 0F058788-C1A7-49AA-88CB-7F8CAE55DA79 
Message: Oxford prof-- bill gates guy 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 05:00:45 AM (578318445) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 57025418-5EB2-479E-A5E8-1931318559E1 
HOUSE OVERSIGHT 027659 
Message: chicken little 
Sender: 
Time: 04/30/19 05:01:47 AM (578318507) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 8EF40627-64D6-418F-9245-33B7CEO6F183 
Message: I'm watching our second hour now-- guys were blown away and I didn't think it 
was as strong at the time but I was wrong 
Sender: 
Time: 04/30/19 05:02:22 AM (578318542) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: AEEC68F3-B6CD-4717-8616-2F7092086E62 
Message: Need huge part on threat of Al versus reality / threat of climate change 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 05:02:27 AM (578318547) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: ECADAAA0-3C83-4CD8-8E54-EDD775B17193 
Message: i was a little all over the place 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 05:02:47 AM (578318567) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 1A04CC28-D1D5-43DD-93F0-C93ECD29F2B3 
Message: go back to the industrial revolution same argument. 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 05:03:14 AM (578318594) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2A0EF7A2-4610-431A-AB55-065C43BCE8CB 
Message: the computer doesn't have soul so no worry 
HOUSE OVERSIGHT 027660 
Sender: 
Time: 04/30/19 05:03:27 AM (578318607) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: D66276FE-8D39-4EB0-99F9-3DBDD76D8C28 
Message: I thought so but most of my team just saw it on film , were not there and 
loved it , wanted more 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 05:03:46 AM (578318626) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: AD75F935-A414-411A-A5C0-5C16189D1E38 
Message: the christians i met with feel , the media portraying me as beyond redemption 
is deeply troubling and offensive 
Sender: 
Time: 04/30/19 05:06:05 AM (578318765) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: C88D76AD-3A4D-4C71-B474-0365A71196B7 
Message: Yes yes yes of course -- but we must counter 'rapist who traffics in female 
children to be raped by worlds most powerful , richest men'--- that can't be redeemed - 
- that why we let them blow up the argument while showing the 12 you redeemed 
Sender: __________________ 
Time: 04/30/19 05:07:06 AM (578318826) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 928B2431-1802-4442-8F26-3860A831BC36 
Message: Can't redeem unredeemable -- you are a lot of things-which we will show-- but 
you are NOT that 
Sender: 
Time: 04/30/19 12:42:43 PM (578346163) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 267D52D2-D390-4EE5-B5B5-3B10A27FF607 
Message: Did u get the film we shot ?? 
HOUSE OVERSIGHT 027661 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 01:35:10 PM (578349310) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 759526F0-4B46-4863-ABB2-015A81D6F990 
Message: <Unsupported Message Content> 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 01:35:18 PM (578349318) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 9DB65C73-0B5C-4D50-A08B-4EA5D9EDCD3B 
Message: Just landed 
Sender: 
Time: 04/30/19 01:37:56 PM (578349476) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 73F15372-F007-430E-B537-A165660304AB 
Message: Money 
Sender: 
Time: 04/30/19 01:48:08 PM (578350088) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: D430FA20-73CB-468A-B991-2F3486ED9494 
Message: Unfortunately probably not going to be allowed to be in the film 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 02:06:07 PM (578351167) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: B53B3688-A8B6-4248-AC08-E426CF70B4BD 
Message: Ill show you the private photos 
Sender: 
Time: 04/30/19 02:06:54 PM (578351214) 
HOUSE OVERSIGHT 027662 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: EE34BA92-9263-4573-8603-6CB52EC61C1B 
Message: Bad 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 02:07:40 PM (578351260) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: CA80D3F6-90BD-4C99-9EBE-AB19A584DD96 
Message: I watched the interview. Well done again , thx. here is what I 
think will work legally, 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 02:08:13 PM (578351293) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2193A4D8-BE8A-4071-BA73-89647EDDF39D 
Message: I pay direct costs of filming. 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 02:10:23 PM (578351423) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: B28301E9-696C-44DO-BFD7-A2C2764D5E38 
Message: As Darren is the contractor for legal service prep . It gets paid by Darren. 
He has final control as it is his work product. I have no interest whatsoever in 
making money here. Zero . You deserve whatever it brings . As it is our cost , no 
return on it. . 
Sender: 
Time: 04/30/19 02:11:39 PM (578351499) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 3978720A-EB9D-44DA-8B45-D6CFD2ECO6F5 
Message: Are you far enough along on your assignment -- could we film this weekend ?? 
Sender: 
Time: 04/30/19 02:12:10 PM (578351530) 
HOUSE OVERSIGHT 027663 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 65975B78-ADC9-4E6B-B827-32CF61A42494 
Message: K 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 02:13:29 PM (578351609) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 7A0E6255-3545-4236-8D3A-92EF5C1677D0 
Message: Ive listed out the scientists. Sending to darren. But there are no 
scientists on the island. ? 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 02:13:40 PM (578351620) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 8A59D3EF-1E2B-4F38-99D0-054567D28E7D 
Message: Lets talk later. , tonight. 
Sender: 
Time: 04/30/19 02:17:25 PM (578351845) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 5A20DC13-6489-42C5-9822-6A3631E10D19 
Message: The team actually thought second was even more compelling than first and the 
LOVED the first 
Sender: 
Time: 04/30/19 02:17:49 PM (578351869) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 4178834E-4DA6-433C-8D7F-C682DD184DOD 
Message: Standby 
Sender: 
Time: 04/30/19 02:38:10 PM (578353090) 
Flags: 1060865 
HOUSE OVERSIGHT 027664 
Is Read: Yes 
Is Invitation: No 
GUID: CFC4292D-6E34-4844-AA1F-4DFC3D8680D4 
Message: Don't need scientist now need you walking thru the entire vertical -- get them 
in weeks / months to come 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:07:29 PM (578354849) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: B793A1E3-FE21-4757-8C95-2C4B415151E4 
Message: Easy 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:07:50 PM (578354870) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 00C219E5-01A0-472A-B94D-031419B59976 
Message: How many people would you bring, 
Sender: 
Time: 04/30/19 03:08:12 PM (578354892) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: A3B125A7-D2A4-452F-A204-FACD3E635E9B 
Message: Limited crew -- 5 max prob 3 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:08:28 PM (578354908) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 8A19F592-959C-42CF-AB47-EDFF57F95987 
Message: I will have schedule tomorrow, would you like to bring ms miller 
Sender: 
Time: 04/30/19 03:11:45 PM (578355105) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
HOUSE OVERSIGHT 027665 
GUID: AD8DB4F9-258C-4680-968F-9D49DB8B874A 
Message: ms miller and I have been on hiatus for month or so 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:12:32 PM (578355152) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 5A3B84DB-D922-4D1A-A85C-D648CD260CDB 
Message: Whoops 
Sender: 
Time: 04/30/19 03:21:23 PM (578355683) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 1312A3FA-B055-48AE-BC5F-0C0438626BFD 
Message: Not personal just business -- I'm obsessed with winning 
Sender: 
Time: 04/30/19 03:22:46 PM (578355766) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 176234AB-6268-4616-955F-82B45606541F 
Message: Watch what we got u 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 03:27:19 PM (578356039) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: F2EA0E4B-ECF2-465E-AC34-6C99C6792A75 
Message: What days work for you Saturday-Monday? Sunday-Tuesday? 
Sender: 
Time: 04/30/19 03:40:30 PM (578356830) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 7CCA487F-074A-46EE-8B9D-C3EA71923B50 
Message: If we can pull it off Saturday thru Monday 
HOUSE OVERSIGHT 027666 
Sender: 
Time: 04/30/19 04:01:29 PM (578358089) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 6AE1A909-A90A-4EB9-B932-0F8C15EAA849 
Message: Can u talk later tonight 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:03:32 PM (578358212) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 3B5A9F29-A13B-40B6-8862-49460E0B56C5 
Message: Please send lesley. All names and passport info asap 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 04:04:00 PM (578358240) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 427946FC-64E0-47C8-94E2-0FA5DC38F235 
Message: Yes, in about two hours. I will make reservations for all sat thru tues. 
and confirm thurs morning 
Sender: ___________________ 
Time: 04/30/19 04:04:55 PM (578358295) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 5D833730-9327-4FFB-9746-29B21869D94D 
Message: Will call 
Sender: e:jeeitunes@gmail.com 
Time: 04/30/19 05:49:29 PM (578364569) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 38B03C96-6768-4737-8F0A-81091AF97F18 
Message: now? 
Sender: 
Time: 04/30/19 06:26:51 PM (578366811) 
HOUSE OVERSIGHT 027667 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 05FODF73-3690-4039-ACAD-47AB30D6BB1D 
Message: Hang on , finishing up something 
Sender: 
Time: 04/30/19 07:10:24 PM (578369424) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 3B193AFO-B67E-4DA7-9B7D-F6E5F3C10D01 
Message: R u still free ??? 
Sender: 
Time: 04/30/19 07:10:33 PM (578369433) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 2D3EA0D7-3820-42EA-96D4-900B584E3DF2 
Message: What # 
Sender: e:jeeitunes@gmail.com 
Time: 05/01/19 03:13:21 AM (578398401) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: B2DAC892-0F6A-42AF-93E4-A59ED8038CC2 
Message: 340 775 8111 
Sender: 
Time: 05/01/19 05:53:07 AM (578407987) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: E951C41F-4AC2-4965-997D-37D282285F48 
Message: If we film just need access to u -- one vertical -- science / math/technology 
Sender: 
Time: 05/01/19 05:53:22 AM (578408002) 
Flags: 1060865 
Is Read: Yes 
HOUSE OVERSIGHT 027668 
Is Invitation: No 
GUID: 6F97916E-7B72-45FC-BA93-64F77F193A36 
Message: Did u view second hour??? 
Sender: e:jeeitunes@gmail.com 
Time: 05/01/19 06:15:34 AM (578409334) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: AFE3A4EC-058B-4F00-ADAB-BBAC65A5226D 
Message: Yes fun 
Sender: 
Time: 05/01/19 06:20:30 AM (578409630) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: OFD328CB-B301-4BFB-9E76-97094D42D05C 
Message: Different style but worked , amazing how much my crew is learning / fascinated 
and they are not dopes 
Sender: e:jeeitunes@gmail.com 
Time: 05/01/19 06:52:03 AM (578411523) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: Al5F2C2F-161F-42F8-8641-F143F0599FAD 
Message: Please give lesley. Names and passports of all flying. 
Sender: 
Time: 05/01/19 07:13:55 AM (578412835) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 096B0002-07BA-4710-A41C-61559F1384AC 
Message: K 
Sender: 
Time: 05/01/19 07:22:20 AM (578413340) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: D5D61F00-6FF8-46B1-A4D4-1D1338C3F13F 
HOUSE OVERSIGHT 027669 
Message: What's her contact info 
Sender: 
Time: 05/01/19 07:22:48 AM (578413368) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: C92C08DC-4A0D-4419-AFC0-39DBF5AB3A0A 
Message: Can dan connect with Darren today ? 
Sender: e:jeeitunes@gmail.com 
Time: 05/01/19 07:42:04 AM (578414524) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 5C97B9F5-8DB2-4DB6-9DEF-D4520A542345 
Message: Yes. I emailed you Lesley s 
Sender: 
Time: 05/01/19 07:50:29 AM (578415029) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 98453DCA-BB24-48DF-9F45-DAE57B6337F6 
Message: Got it 
Sender: e:jeeitunes@gmail.com 
Time: 05/01/19 12:56:52 PM (578433412) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 775FF2F0-E239-4FF3-A951-D153696E027F 
Message: https://www.nytimes.com/2019/05/01/opinion/william-barr-
testimony.html?action=click&amp;module=Opinion&amp;pgtype=Homepage 
Sender: e:jeeitunes@gmail.com 
Time: 05/01/19 01:18:23 PM (578434703) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 7333B550-A9C2-4841-AC8E-6638B17006BA 
Message: Did your guys prefer beard or no beard 
HOUSE OVERSIGHT 027670 
Sender: 
Time: 05/01/19 01:19:18 PM (578434758) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 358D02BC-6790-462B-9529-4BAD6A34E07F 
Message: Slight growth 
Sender: e:jeeitunes@gmail.com 
Time: 05/01/19 05:42:20 PM (578450540) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 14D27AC4-8ABF-489E-83BA-60BB9382FBEC 
Message: Another meeting tomorrow afterno 
Sender: 
Time: 05/01/19 05:53:56 PM (578451236) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 11B6D734-5072-4248-ABF9-008F80323606 
Message: That's best news I've heard 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:05:31 AM (578487931) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: D43DF8D3-D191-44FA-A5A3-04B01E2857AC 
Message: The better news would be to see that signed dollar. . AHHHHH. The smell of 
victory 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:06:26 AM (578487986) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 9B05AFEA-A646-463B-BEDO-DCF1E9ED12AC 
Message: https://www.reuters.com/article/us-china-economy-forex-reserve/chinas-march-
forex-reserves-rise-to-seven-month-high-idUSKCN1RJO5Q 
Sender: e:jeeitunes@gmail.com 
HOUSE OVERSIGHT 027671 
Time: 05/02/19 04:10:28 AM (578488228) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 91F5A419-A277-41C5-846B-9885FCB11F91 
Message: signature requested in A Chinese red ink. Would be appropriate 
Sender: 
Time: 05/02/19 04:14:36 AM (578488476) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 2064A152-93DC-4D52-BE09-6687AF744D48 
Message: On it 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:16:54 AM (578488614) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: E82F2FFB-0159-4470-B71A-795428A0934C 
Message: I hope that means you are trying to find the right pen 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:18:53 AM (578488733) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2B64F788-027C-4431-B6F4-C49D63C7A30E 
Message: To join the ranks of the formerly vanquished. The writing should be. 
I was wrong "" and then like Hirohito on the aircraft carrier. . a withered 
signature 
Sender: 
Time: 05/02/19 04:30:31 AM (578489431) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: E63D5CF6-B4C3-4A72-884D-92D98C7B8EA7 
Message: Dude u r brutal- but hang on 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 05:19:31 AM (578492371) 
HOUSE OVERSIGHT 027672 
Flags: 1085445 
Is Read: No 
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GUID: 95C5E905-0D20-45CF-A977-946BF6413E02 
Message: Tik tok tik tok 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 06:02:41 AM (578494961) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: A1231208-68AA-4CFF-8471-03060F5EA773 
Message: Now you want mercy. -- wrong guy 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 07:30:12 AM (578500212) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 7BC7620A-6140-4C53-9E00-D00574460858 
Message: I will fly you back to New York on Monday. .all set 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 08:15:48 AM (578502948) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 9300DFA6-6DD3-4B06-8147-AlAC3C15CB73 
Message: https://www.cnet.com/news/millipede-trapped-in-amber-for-99-million-years-
gets-its-moment-to-shine/ 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 08:15:48 AM (578502948) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: C9E85000-E1D9-44B1-9B37-0E2B5F8E2E1C 
Message: . Miracle 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 09:58:09 AM (578509089) 
Flags: 1150981 
Is Read: No 
HOUSE OVERSIGHT 027673 
Is Invitation: No 
GUID: Al8ACD7C-D179-4051-BD76-79F8E15B1E95 
Message: We can return late Sunday if better for you. Im organized heli etc . Watched 
your interview- kyle can slso sign 
Sender: 
Time: 05/02/19 10:21:31 AM (578510491) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: CA54B49F-40F8-429D-AE2A-BCAED091A72F 
Message: What did u think of interview ? 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 10:29:22 AM (578510962) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 0971395E-CODD-4212-8853-72354843BBAO 
Message: Great 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 10:38:15 AM (578511495) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: C9A03BDB-D700-4C7C-A3B9-AD1D91280725 
Message: https://www.nytimes.com/2019/05/02/us/politics/fbi-government-investigator-
trump.html?smid=nytcore-ios-share 
Sender: 
Time: 05/02/19 11:12:31 AM (578513551) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: BC6FE63E-805D-41A5-86EA-A14031834888 
Message: It's over bro-- even I thought she was MI-6 or MI-5 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 11:18:44 AM (578513924) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
HOUSE OVERSIGHT 027674 
GUID: 95C6B8F6-0116-4285-A736-C2132C5F1769 
Message: Obama knew 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 11:19:10 AM (578513950) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 476C8EB2-854D-42DF-A2CC-6DB84AAF22FC 
Message: Are you coming Saturday 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 12:42:50 PM (578518970) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 8FD4CF45-A233-4395-A167-957011C98FF2 
Message: Lesley needs to confirm tickets 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 02:17:13 PM (578524633) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 1E4A1044-05BD-4857-9C56-B62E1105F7AD 
Message: And you can film From heli 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:05:28 PM (578531128) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2557FA15-FB98-4F7C-9168-67B4EF4C1422 
Message: Was miso fun 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:05:37 PM (578531137) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 667754C1-89C3-4F4B-804F-1906ADOFE34E 
Message: miro 
HOUSE OVERSIGHT 027675 
Sender: 
Time: 05/02/19 04:17:13 PM (578531833) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 7B253181-2423-4FF7-A7C1-1A6F619253AB 
Message: He may my head blow up-- with your comment 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:21:06 PM (578532066) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 5C01CBD7-56F5-4F73-9E15-2BA66B669D3B 
Message: 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 04:22:06 PM (578532126) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 5529DB26-F4E2-4135-B2BD-117B4C2147BF 
Message: Sorry , is sat a go or no go? 
Sender: e:jeeitunes@gmail.com 
Time: 05/02/19 06:59:58 PM (578541598) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: D5721AC6-B4DA-480E-AB8E-77FC4C690F78 
Message: ? 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 03:34:26 AM (578572466) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 899D405F-3B89-4794-A42C-5F43AB689CC5 
Message: Can you speak? 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 03:41:24 AM (578572884) 
HOUSE OVERSIGHT 027676 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 3BD14028-8AC2-4572-9609-75586E9B1745 
Message: All is organized but I need to let pilots know. or is it you have not 
found the right color ink. AH 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 03:44:41 AM (578573081) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 6299C4C1-384E-44A5-8312-B4B6DCD1EB68 
Message: https://www.nytimes.com/2019/05/03/sunday-review/tax-rich-
irs.html?action=click&amp;module=Opinion&amp;pgtype=Homepage 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 03:44:41 AM (578573081) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: DF44E49E-E15C-4985-82AD-D95A99F1EA5C 
Message: . They forgot computers do most of the work now 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 03:48:53 AM (578573333) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 3F07B2FD-6896-4A6D-A934-0A0A26FC1B94 
Message: https://www.nytimes.com/2019/05/02/business/economy/wage-growth-
economy.html?action=click&amp;module=Top%20Stories&amp;pgtype=Homepage 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 03:48:53 AM (578573333) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 3239F0D0-8705-4DD6-9D3C-B8C5E0483A8F 
Message: . Bak up for your message 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 03:49:33 AM (578573373) 
Flags: 1085445 
HOUSE OVERSIGHT 027677 
Is Read: No 
Is Invitation: No 
GUID: C62FBOFC-EAB8-47F8-8695-F73D9D5OBF49 
Message: <Unsupported Message Content> 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 06:03:38 AM (578581418) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 034F41E3-816D-459A-9277-602751AE6ODC 
Message: Just found that dan and Lesley are in contact. I was not copied 
Sender: 
Time: 05/03/19 06:44:43 AM (578583883) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: EB5E34E2-2B79-480D-BOCC-49631C84EB79 
Message: Is darren going to ever get back to dan on this ?? 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 06:55:05 AM (578584505) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 54A75BDD-A115-40F0-813C-E65E75EE71E3 
Message: Sorry, hes with his mom. You and i are perfect. All under privlege . I will 
review with you and dan operational details. I hit your bid , you are filled 
Sender: 
Time: 05/03/19 06:55:24 AM (578584524) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 94DCBE29-AF7B-47D5-BD3D-3E2FE4705A64 
Message: K 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 06:57:36 AM (578584656) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
HOUSE OVERSIGHT 027678 
GUID: 2E6E19E3-A822-4C63-8C76-5C0B7E09AD75 
Message: On the michael Wolfe front - very positive more in ny on Tuesday 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 06:57:39 AM (578584659) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: E8E5C0E3-87F0-4836-A8C9-06413DEDCCCF 
Message: Very 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 06:58:13 AM (578584693) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2F614803-8EFB-49B7-8D06-FOAE714549A0 
Message: MICHAEL wolfe as in confidential :) 
Sender: 
Time: 05/03/19 06:59:51 AM (578584791) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 1F5FD91C-62AE-4990-9A69-CE943C939FF8 
Message: Yes yes yes 
Sender: 
Time: 05/03/19 07:35:08 AM (578586908) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 8F879965-A74C-4943-A62A-7F2148B25EEC 
Message: With my sked now and the travel what we think is best/ most efficient is to 
set up early Monday @71st street and start with you @ 9 am or 10 and go to 6 pm with 
breaks -- that would give us @ least another 3+ hours to go with our current 2.5 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 07:41:20 AM (578587280) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 94E37A21-1C96-4DEA-AE33-5A728CCE0681 
HOUSE OVERSIGHT 027679 
Message: No island? 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 08:12:51 AM (578589171) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 604E76A0-A355-46DE-8FB8-D6A0A6OEF5C6 
Message: No worry , are you going to Germany, do you want to sit with KSA. I am 
going to arizzona on the 12 th to see Chomsky. . any interest 
Sender: 
Time: 05/03/19 08:47:58 AM (578591278) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 41249249-8EA6-43C4-BD6B-75E067F75E52 
Message: I'm going to Germany on 11 May thru 15 may-- speaking @ the Bundestag 
Sender: 
Time: 05/03/19 08:48:50 AM (578591330) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: FB95CBA9-7E93-4E49-8F35-ED3A3E08107B 
Message: My team will fly out to film you and Noam -- want to get something -- I can be 
connected by skype 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 08:49:49 AM (578591389) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 8CAFA25A-BFBB-4F75-8E73-F61BC3D8DC6B 
Message: would it be best if i delayed so you can be there . do you want me to set 
the KSA meeting in germany 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 08:50:10 AM (578591410) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 1287D301-AC8C-4434-91A3-BB81174FBD1F 
Message: if i do you can't blow it off 
HOUSE OVERSIGHT 027680 
Sender: 
Time: 05/03/19 08:50:31 AM (578591431) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: EB2D9118-CAEA-4125-85DC-1CC424E20805 
Message: Yes but I need to get my sked 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 08:57:31 AM (578591851) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: D4E5C115-F5C9-4C69-9334-F6B4FBA26286 
Message: alternate we can fly to arizona on the 8 or 9 th and you can fly to europe 
from there easy. . dallas or denver. or la 
Sender: 
Time: 05/03/19 09:00:37 AM (578592037) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 64EEBO6B-66A8-4B27-BECO-CF335AA46F3B 
Message: I need to leave on red eye after we film on Monday 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:00:55 AM (578592055) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: AEB7A530-796A-4B18-BA94-1DB77E1DCOA8 
Message: for? 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:01:02 AM (578592062) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 8C761281-318D-4946-88BC-2E3A5B475B9C 
Message: europe? 
Sender: 
HOUSE OVERSIGHT 027681 
Time: 05/03/19 09:01:24 AM (578592084) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: F8129B17-B09B-4FF8-9CAA-D6F4976FC240 
Message: Yes : EP Parliamentary Elections 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:01:28 AM (578592088) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: E658F760-62E3-45A8-AEBD-A4D407746E76 
Message: whoops 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:01:36 AM (578592096) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 22DBDCBC-9806-4DB2-B2AD-1374F4A745B0 
Message: ok cool 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:02:35 AM (578592155) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 9F6E2A31-37BC-4D1F-B402-DD3EE6FE2691 
Message: if you change your mind I'm on the island. do you want your guys to get some 
shots of island/ ? 
Sender: 
Time: 05/03/19 09:03:02 AM (578592182) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: BFA1B10B-96AB-4656-B3E6-ADODDEDB1E9A 
Message: Monday good for you though??? 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:03:22 AM (578592202) 
Flags: 1085445 
HOUSE OVERSIGHT 027682 
Is Read: No 
Is Invitation: No 
GUID: E08E4C83-DBEA-4155-AABC-C304367680E8 
Message: yes, i'll be there. i assume you and your dollar will be as well 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:03:50 AM (578592230) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 53D9FFDD-EE11-498C-B61E-4D24AB79F0A4 
Message: have kyle give you 50 cents 
Sender: 
Time: 05/03/19 09:04:20 AM (578592260) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: AA57B716-3E5D-47AD-9C45-5B62FA6BC727 
Message: Where is your home work-- need to grind down on this 
Sender: 
Time: 05/03/19 09:04:29 AM (578592269) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: A40A0CB4-44D6-4F67-98EE-8EAFC9D1B6FA 
Message: How were the meetings 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:04:56 AM (578592296) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 7D09A0BE-6191-4AE6-B749-740675ECCAAC 
Message: groups vs individual . ie classic vs statistical mechanics. 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:05:15 AM (578592315) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
HOUSE OVERSIGHT 027683 
GUID: BBDODED7-5335-4810-AE57-CD4EC9D63348 
Message: economics as systems read the papers today. old numbers don't work it is not 
a machine. 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:05:39 AM (578592339) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 873E909E-F305-4C2C-952E-4668B456C9DA 
Message: music vs calculation. thoughts souls. hope all the work of god 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:06:05 AM (578592365) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 971B2C85-B1BF-49D5-947C-071EB56F54A3 
Message: evolution vs just change. most people confuse the two 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:06:26 AM (578592386) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2943FD9E-6E77-4DE6-9D5B-9712E67391AA 
Message: a person does not evolve, only a population . lottery , no algorithms. 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:06:29 AM (578592389) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 91538038-17B3-43AB-9476-B70ABA816DB2 
Message: only god knows 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:07:50 AM (578592470) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 564230A6-9E2E-4E8D-85EF-8535378A0C4A 
Message: money. as debt. . network effects. pop charts have listening inequality 
HOUSE OVERSIGHT 027684 
search engines have it. . there are some at the top that has as much activity as the 
entire half. only math 
Sender: 
Time: 05/03/19 09:08:23 AM (578592503) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 44A787F3-6B06-4A47-85BA-FE137560A3D2 
Message: Love this 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:08:54 AM (578592534) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2493B48E-2228-4C59-95E1-601B3D33FFCD 
Message: we can do unpleasant facts. . sickle cell is only african . jacob 
crcuthfelds only jews. . says they are different 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:09:30 AM (578592570) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 3429A8A4-6A33-4F36-9FF4-62418C682ABO 
Message: power. financial . intellectual physical .polictical . all the same 
underpinnings . 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:09:48 AM (578592588) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 1830A8E1-074B-4111-9098-7889D33FA99F 
Message: music as a window into the brain, stem cells vs cancer. vs death 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:10:11 AM (578592611) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 9D5E4F0B-8762-4669-AC54-502F0076F367 
Message: mash ups of beethoven . weird jeffrey discovery 
HOUSE OVERSIGHT 027685 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:10:47 AM (578592647) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 5332A7E0-CC09-4D71-A392-33E443CE21BE 
Message: burdens o wealth. inner success vs external success. affluenza 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:11:46 AM (578592706) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: CC4F8811-AA7A-4F44-A5A9-51112EB76432 
Message: why if he is so rich , is he still unhappy , learned helplessness 
translates into wanting to make a difference . not become irrelevant . no worry 
i have a deep bench of verticals 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:14:40 AM (578592880) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 357AD848-C727-4F6E-93CC-3D6CFB764A73 
Message: and woody coming for early dinner mon 6 pm 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:18:51 AM (578593131) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 63EAF402-C8A4-476C-BB23-42AEE18080DB 
Message: economic arguments re banks as people. . ie the banks made money . at the 
same time complaint their pensions are down in value 
Sender: 
Time: 05/03/19 09:51:25 AM (578595085) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: BFD69B43-0EAB-4D29-983D-C6B25EF6C67E 
Message: I can do dinner 
HOUSE OVERSIGHT 027686 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 09:54:46 AM (578595286) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 6DAA18CA-FF07-4897-9341-EFDO3BF52CA1 
Message: great 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 01:40:53 PM (578608853) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: BDF16674-CF33-4D0B-9E23-2078AAB237C5 
Message: <Unsupported Message Content> 
Sender: 
Time: 05/03/19 01:48:23 PM (578609303) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 1F78B6FD-4DD2-4FAB-89A1-9CA390B19363 
Message: I told miro it would be in the cabinet room 
Sender: e:jeeitunes@gmail.com 
Time: 05/03/19 02:07:29 PM (578610449) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 3FD4AB48-D0A1-4930-B7A6-37378F5FOBFE 
Message: he said you advice helped 
Sender: 
Time: 05/03/19 02:11:02 PM (578610662) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 2EC90CD5-1F19-45B5-867A-F12849CCDA60 
Message: Of course ::: very complex -- just tell potus: 'Orange Man Great' 
Sender: 
Time: 05/04/19 06:49:28 AM (578670568) 
HOUSE OVERSIGHT 027687 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: D2AAE69B-6025-4C04-B1A6-2029F7B36880 
Message: We want a different look for Monday-- where else can we film @ 9/71??? does 
any other rooms have that scale or gravitas??? 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 06:49:45 AM (578670585) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: DEEA21F3-F170-4675-B320-88678E7E78CE 
Message: yes, 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 06:50:15 AM (578670615) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 744DA9E8-D2E0-4BC1-9022-D4D0921E791C 
Message: and nothing more grand then the ranch 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 06:50:27 AM (578670627) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 90A86A65-723E-4BF7-961F-9DFA24ACAFAD 
Message: nowhere 
Sender: 
Time: 05/04/19 06:50:46 AM (578670646) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 149131C7-9ACF-4A33-96E7-DD9322B05F46 
Message: We will lock that in for June 
Sender: 
Time: 05/04/19 06:51:20 AM (578670680) 
Flags: 1060865 
Is Read: Yes 
HOUSE OVERSIGHT 027688 
Is Invitation: No 
GUID: lED626E6-8871-4153-9FEE-D9C15AEE6489 
Message: Are you still with Chomsky in may? 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 06:52:02 AM (578670722) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2629BC29-05B9-4AEl-AF2B-7A2A386D248C 
Message: my plan was to fly to ranch on wed see chomsky on sun return to island. 
but as usual I can be totally flexible. 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 06:52:17 AM (578670737) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: FF1736C7-6D88-42C1-A919-1FC4F7A18C9E 
Message: i see bolosnaro bailed 
Sender: 
Time: 05/04/19 06:53:11 AM (578670791) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 637FBD16-CA8B-45E8-BE7E-07DB80C3E51C 
Message: I'm furious about the bail-- total amateur hour -- he is listening to the 
generals 
Sender: 
Time: 05/04/19 06:53:33 AM (578670813) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 50C37714-9548-42E5-A04F-A8AFFB923EF8 
Message: Chomsky next Sunday 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 06:53:41 AM (578670821) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
HOUSE OVERSIGHT 027689 
GUID: FD46A129-CF45-4E7F-A99E-BC192692ECA6 
Message: yes at his home 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 08:30:57 AM (578676657) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: C057C37A-A74F-4358-9EB1-FD093C288138 
Message: I can also put any equipment on my plane and take out west making easier for 
your boys to join. etc. or wait? 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 08:36:37 AM (578676997) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 6F92A719-528C-4D50-BFDB-92F2C65B64B4 
Message: /www.nytimes.com/2019/05/03/opinion/joe-
biden.html?action=click&amp;module=Opinion&amp;pgtype=Homepage 
Sender: e:jeeitunes@gmail.com 
Time: 05/04/19 08:36:42 AM (578677002) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 4211E08D-483E-4594-AF3E-9ABCB5EED91B 
Message: Now that funny 
Sender: 
Time: 05/04/19 08:52:10 AM (578677930) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 1DFB7F83-07E5-461A-AB2A-412D3F6A73C6 
Message: Working It now 
Sender: e:jeeitunes@gmail.com 
Time: 05/05/19 07:02:35 AM (578757755) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 195E84C7-BAD4-46E3-BAC6-44633C913AAC 
HOUSE OVERSIGHT 027690 
Message: ? 
Sender: 
Time: 05/05/19 10:25:42 AM (578769942) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: F3CD4D0D-7316-4D3C-99E5-93F5AF53E12B 
Message: You see trumps tweet- I blew up the deal 
Sender: e:jeeitunes@gmail.com 
Time: 05/05/19 10:38:01 AM (578770681) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: DA036949-4ADF-4B7C-AC3E-7F0301CCA97B 
Message: Yup 
Sender: 
Time: 05/05/19 10:43:25 AM (578771005) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 6678A34A-5F3A-4AB7-A053-B80D532FOAEC 
Message: Dead fucking on the target 
Sender: e:jeeitunes@gmail.com 
Time: 05/06/19 04:44:15 AM (578835855) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: F53D0887-EADA-4850-A03F-8BF7D3117E36 
Message: funny , but the chinese reached out to me to see if i would visit re 
mathematics . odd timing 
Sender: __________________ 
Time: 05/06/19 04:45:28 AM (578835928) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 04B3C0C8-A793-40E0-85C4-352A467DC660 
Message: Seriously ?... would be huge 
HOUSE OVERSIGHT 027691 
Sender: e:jeeitunes@gmail.com 
Time: 05/06/19 04:45:58 AM (578835958) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: C3EDOFFC-FCD6-4678-A7E3-703A2BE29A42 
Message: yes, I've asked for a formal invitation 
Sender: 
Time: 05/06/19 04:46:09 AM (578835969) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: D6A694EF-4F6B-4BDC-AB7A-FC4AACCBBD8D 
Message: Massive 
Sender: e:jeeitunes@gmail.com 
Time: 05/06/19 04:46:24 AM (578835984) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 42B1C1BE-B7B8-4BAB-9C6E-12A309EB7BA2 
Message: made through professor yau at harvard, the only chinese to win a fields 
medal 
Sender: 
Time: 05/06/19 04:56:27 AM (578836587) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 804EDFB9-1601-47BB-BB09-A5F14A15925B 
Message: Classy 
Sender: 
Time: 05/06/19 04:57:05 AM (578836625) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: CD214A58-541B-4E62-BBCF-75F40F897ABA 
Message: We are going to try for a different look today --- library? 
Sender: e:jeeitunes@gmail.com 
Time: 05/06/19 04:57:09 AM (578836629) 
HOUSE OVERSIGHT 027692 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 79A5A69B-481B-409A-897A-DB1BC56037E4 
Message: yes 
Sender: 
Time: 05/06/19 07:29:05 AM (578845745) 
Flags: 1052673 
Is Read: No 
Is Invitation: No 
GUID: 1BB1FCE9-2DD7-412A-BFAC-BB37579B7EC5 
Message: Market up-- suck on that 
HOUSE OVERSIGHT 027693 
"
IMAGES-008-HOUSE_OVERSIGHT_026070.txt,"together with you to think and initiate something to serve the future needs of the US in the infrastructure
field.

Please find attached further information on each manager. This would also be a chance for us to explore
opportunities of working together in the future.

Please feel free to reach out to us if you require any further information. We look forward to hearing from
you soon.

THC

TIIC Group backed by Edmond de Rothschild, is a pan-European infrastructure firm advising on mid-market
infrastructure projects across Europe in both the transportation and social sectors. It was established in
2008 by the 3 founding partners of TIIC Group, Jaime d’Almeida, Manuel Cary and Francisco Mendes, with
strategic support from the Edmond de Rothschild Group and Brisa.

The aim of TIIC Group is to bring an operational approach to infrastructure investments in Europe, drawing
upon the extensive management and financial skills of its team members. These skills have been developed
over many years at some of Europe’s leading infrastructure operators and project financing firms which,
when combined with the very specific infrastructure expertise of both the Edmond de Rothschild Group and
Brisa, makes for a powerful and differentiated investment platform.

TIIC Group operates from two offices in Lisbon and Paris, providing its team with access to relevant
investment opportunities across key target markets in Europe as well as to leading industrial contractors,
operators, advisors and financiers in the infrastructure industry.

TIIC Group successfully raised a First Fund with €140m of commitments targeting transportation
investments across Europe. The portfolio of the First Fund comprises 6 assets located in Portugal, Spain,
France and Poland. They represent a carefully balanced mix of greenfield and early stage brownfield projects
in roads and car parks. TIIC Group has played an active role in the sourcing and development of all
investments and has made a significant contribution to value creation. TIIC Group believes that this is a high
quality, operationally secure, cash yielding portfolio of assets which will be of strong interest to potential
investors over the coming few years.

TIIC has launched a successor fund, TIIC 2, which will build upon TIIC Group’ differentiated approach to
infrastructure in Europe. TIIC 2 will is targeting aggregate commitments from investors of €300m (€350m
hard cap) to invest into both transportation and social infrastructure projects in Europe. TIIC 2 will also seek
to invest, ona very selective basis, into greenfield social infrastructure projects in New Frontier Markets,
within close proximity to the European Union. Given its powerful network of relationships across Europe and
the operational skills of its team, TIIC Group will continue to target superior investment returns for TIIC 2’s

HOUSE_OVERSIGHT_026070
"
TEXT-002-HOUSE_OVERSIGHT_033498.txt,"From: Jessica Cadwell______________________________ 
Sent: 8/11/2009 7:00:05 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: RE: FW: Jane Doe 
Privileged - Redacted 
frJaca &dwelt, e?, cia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jeffrey Epstein [mailto:jeevacation@gmail.com] 
Sent: Tuesday, August 11, 2009 3:01 PM 
To: Jessica Cadwell 
Subject: Re: FW: Jane Doe 
L Privileged - Redacted 
On Tue, Aug 11, 2009 at 2:55 PM, Jessica Cadwell < 
Privileged - Redacted 
fr.J.Jica &dwelt, e?, cia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
> wrote: 
From: Jacquie Johnson [mailto 
Sent: Tuesday, August 11, 2009 2:55 PM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Yes — we are still trying to get the details though 
From: Jessica Cadwell [mailto 
Sent: Tuesday, August 11, 2009 2:27 PM 
HOUSE OVERSIGHT 033498 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
Does this mean you have service on Maxwell 
feJjka  
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Tuesday, August 11, 2009 2:30 PM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
From: Jessica Cadwell [mailto 
Sent: Tuesday, August 11, 2009 11:28 AM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
Do you have service on Maxwell or still trying to subpoena her?? 
feJjka e?, Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
HOUSE OVERSIGHT 033499 
From: Jacquie Johnson [mailto 
Sent: Tuesday, August 11, 2009 11:28 AM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Please notice the deposition of Ms. Maxwell has been rescheduled from 8/17 to 9/23. A re-Notice of Taking Deposition 
will follow. Mr. Trump's deposition is scheduled for August 18, 2009. 
From: Jessica Cadwell [mailto 
Sent: Monday, August 10, 2009____________________________3:31 PM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
No not likely. They just filed an emergency protective order 
feJjka e?, cia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto: 
Sent: Monday, August 10, 2009 3:18 PM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Jessica — is the depo of going forward on Friday 
From: Jessica Cadwell [mailto_____________ 
Sent: Monday, August 10, 2009 12:10 PM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
I didnt forget about this... 
Still working on it. 
feJJ'ica e?, cia' 
Certified Paralegal 
HOUSE OVERSIGHT 033500 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Thursday, August 06, 2009 10:47 AM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Jessica — I need a date for the deposition of Mr. Epstein. Can you provide me with one please? 
From: Jessica Cadwell [mailtol______________________________ 
Sent: Thursday, August 06, 2009 10:20 AM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
Great thank you. Do you have your Stays signed yet? 
feJjka &dazeEE e?, cia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Thursday, August 06, 2009 9:59 AM 
To: Jessica Cadwell; Bradley J. Edwards 
Cc: Robert D. Critton Jr. 
Subject: RE: Jane Doe 
Brad is out of the office until this afternoon — I will ask him then. 
From: Jessica Cadwell [mailto 
Sent: Thursday, August 06, 2009 9:51 AM 
To: Bradley J. Edwards 
HOUSE OVERSIGHT 033501 
Cc: Jacquie Johnson; Robert D. Critton Jr. 
Subject: Jane Doe 
Brad — 
In your answers to ROGS, you list Milton Center for girls as facility that Jane Doe attended. Milton Center is a 
Department of Juvenile Justice facility; therefore I will need to get her records from DJJ. DJJ will not release the records 
without a signed release by Jane Doe. I have attached a general HIPPA release for your review. Would you please have 
Jane Doe sign it? DJJ does not have a standard form. 
Also, will you agree to one more week on Responses to Net Wirth ROGS?? 
Please let me know. 
Jess — 
feJath &dwelt, e?, cia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: Fax: 
Email: 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. 
HOUSE OVERSIGHT 033502 
"
IMAGES-010-HOUSE_OVERSIGHT_029821.txt,"challenge to convince the Iranians that
we’re quite serious about the use of
force,” he said. “In the first term, the
administration didn’t always speak with
one voice on this issue. So what Hagel
says can make a difference.”

Despite his poorly receieved performance

at his confirmation hearings, it’s widely
believed in Washington that Hagel will

be confirmed as secretary of defense and
that his private advice to Obama will
more closely hew to his long-held beliefs
about the futility of sanctions and the
grave downside to a military strike. Partly
for that reason, it remains very unlikely
that the Obama administration will resort
to force to resolve the dispute with Iran.
In fact, in remarks that Iranian officials
cited as promising, Vice President Joe
Biden expressed the administration’s
willingness to hold bilateral talks with the
Iranians. In response to a question at the
Munich Security Conference Biden said,
“We have made it clear at the outset
that...we would be prepared to meet
bilaterally with the Iranian leadership”
when Iran’s Supreme Leader Ayatollah
Ali Khamenei is serious about
negotiations. [ran’s Foreign Minister, Ali
Akbar Salehi responded favorably and
said, “I am optimistic, I feel this new
administration is really seeking this time
to at least divert from its previous

HOUSE_OVERSIGHT_029821
"
TEXT-001-HOUSE_OVERSIGHT_017796.txt,"﻿Case 1:19-cv-03377 Document 1-2 Filed 04/16/19 Page 1 of 4
EXHIBIT 2
Case 1:19-cv-03377 Document 1-2 Filed 04/16/19 Page 2 of 4
https://www.rawstory.com/2018/12/letter-editor-alan-dershowitz-responds-raw-story-report/
Case 1:19-cv-03377 Document 1-2 Filed 04/16/19 Page 3 of 4
https://www.rawstory.com/2018/12/letter-editor-alan-dershowitz-responds-raw-story-report/
Case 1:19-cv-03377 Document 1-2 Filed 04/16/19 Page 4 of 4
https://www.rawstory.com/2018/12/letter-editor-alan-dershowitz-responds-raw-story-report/
"
IMAGES-002-HOUSE_OVERSIGHT_012767.txt,"new line of mice with a special accessory: an upgraded memory and learning system. When these new
and improved mice ran through an IQ test, they outperformed normal mice.

Tsien pulled off an extraordinary engineering trick, creating a lineage of smarter mice. This is
cowboy science, showing the power of genetic tampering to open the door to evolutionary changes. In a
world of competition, one would imagine that selection should favor these smart mice who have better
recall of essential foraging routes, previous social interactions, and places to rest out of harm’s way from
predators. But in biology, there are always trade-offs. Benefits in one area of life are often accompanied
by costs in others.

Several months after Tsien’s report, a follow-up study of the same memory-enhanced mice
appeared in print, also in a distinguished scientific journal. But this time there was no media fanfare. The
new work was carried out by Min Zhuo at Washington University, an ex-member of Tsien’s lab and a co-
author of the original paper. Zhuo’s new paper confirmed that memory-enhanced mice were indeed
smarter, but also showed that they were more sensitive to pain, licking their wounds more and for longer
periods of time than normal mice. Though it is unclear whether Zhuo’s results reveal heightened pain
sensitivity, stronger memories for pain, or some combination of these and other processes, what is clear is
that the engineering that led to smarter mice led to much more.

Tsien and Zhuo’s work shows that even with targeted, artificial changes in the underlying
biology, unanticipated consequences are common. It also shows that deep within the biology of every
organism lies hidden capacities and potential for change. Unleashing these sub rosa capacities can have
both beneficial and costly consequences for the individual and group.

The idea I develop in this chapter is that our capacity for evil evolved as an incidental, but natural
consequence of our uniquely engineered brain. Unlike any other species, our brain promiscuously
combines and recombines thoughts and emotions to create a virtually limitless range of solutions to an
ever-changing environment. This new form of intelligence enabled us to solve many problems, but two
are of particular interest given their adaptive consequences: killing competitors and punishing cheaters in
a diversity of contexts. But like the painful fall-out from artificially engineering a smarter mouse, so too
was there fall-out from the natura/ engineering of a smarter human: a species that experiences pleasure
from harming others. This is part of the recipe for evil.

This chapter sets out the evidence to support the idea that evil evolved as an incidental
consequence of our brain’s design. I begin by discussing the two general processes that landed us in the
unforeseen and uninhabited niche of evildoers: the evolution of byproducts and promiscuous connections
within the human brain. Because these are general processes, we will take a short reprieve from matters

specifically evil.

Hauser Chapter 1. Nature’s secrets 21

HOUSE_OVERSIGHT_012767
"
IMAGES-003-HOUSE_OVERSIGHT_016148.txt,"next five years, namely Iran and the UAE. As for Libya, the current turmoil needs to
come to an end, while the scale of any Iraqi long-term output increase remains the
biggest uncertainty.

Chart 38: We estimated that demand will grow by 5.9mn bpd in 2015- Chart 39: Other than Saudi Arabia, some OPEC countries will also expand
20 their capacity in the next five years, namely Iran the UAE
Global oil consumption BofAML OPEC capacjty growth, 2015-2020F
105 Kuwait
mn bpd fcast uwail
100 , Algeria
95 Qatar
90 Venezuela
Angola
85 3
Ecuador
80 Nigeria
15 UAE
70 Libya
65 Iran
Saudi Arabia
60
87 89 91 93 95 97 99 01 03 05 07 09 11 13 15 17 19 -0.3 -0.1 0.1 0.3 05
Source: IEA, BofA Merrill Lynch Commodities Research Source: IEA, BofA Merrill Lynch Commodities Research

Saudi plans to keep capacity flat add to medium term tightness

Saudi Arabia has 12.5mn bpd of crude production capacity, according to the
government, and the country suggested within the NTP that it plans to maintain
capacity at the current level to 2020. Saudi Arabia is the only material holder of spare
crude oil production capacity around the world. Spare capacity currently sits at c2mn
bpd, which is one of the lowest levels ever. Even if Saudi Arabia did start investing
today, it would take a number of years to be completed and would unlikely be ready
before 2020 in any case. Hence, as Saudi ramps up production over the medium-term by
digging into its spare capacity, the risk premium in the oil market will rise as the market
becomes increasingly less able to handle future supply disruptions.

Chart 40: The supply side in oil faces a lot of disruptions linked to Chart 41: Saudi Arabia has 12.5mn bpd of crude production capacity,
geopolitics and broad economic mismanagement and currently is c2.0 of spare capacity over current production
Major oil supply disruptions 45 Saudi Arabia spare crude oil production capacity
6 > an bid (excluding disruptions due to OPEC policy changes) mn bid
5 post Arab spring es
Kuwait, —
4 3.5
Venezuela, Nigeria 30
Iraq unrest ;
oil strike cut ial o5 J
90 91 92 93 94 95 96 97 98 99 00 01 03 04 05 06 07 08 09 10 11 12 13 14 16 1:5 |
Iraq, civil war = Libya, civil war |
@ Nigeria, oil theft @ Syria, civil war 1.0 4
m Yemen, civil war mlran, US/EU embargo Jan-09 Nov-09 Sep-10 Jul-11 May-12 Mar-13 Jan-14 Nov-14 Sep-15
Source: IEA, BofA Merrill Lynch Commodities Research Source: IEA, BofA ML Commodities Research. IEA estimates Saudi production capacity at 12.2mn bpd

If Saudi gas production gets off the ground, it could crowd out oil demand...

The Saudi NTP plans to grow domestic gas production by 50% to 18 bcf/d by 2020, and
to use most of this gas to meet a 30% rise in domestic power demand and moreover
boost gas’ share in power generation to 70%, up from 50% currently. This implies that
oil burned for power generation could drop by 30% or 300 thousand bpd by 2020, most
of which would likely be crude which is more valuable in the export market than the

38 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch

HOUSE_OVERSIGHT_016148
"
TEXT-001-HOUSE_OVERSIGHT_027133.txt,"Source Entr: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2017-01-27\II 
on 2017-01-27 at 10.51.01.ichat 
Service: iMessage 
Start Time: 01/27/17 07:51:01 AM (507225061) 
End Time: 01/27/17 08:22:52 PM (507270172) 
Last Message ID: 463 
Chat Room: 
Participants: jee, ___________________________________ 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
Sender: 
Time: 01/27/17 07:51:01 AM (507225061) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: FEE6DD30-5105-47E5-AA93-2242DE510B53 
Message: I'm seeing BG tmr. He will be in DC for the Alfalfa dinner but he's got mtgs 
most of the day including w Jared Kushner. Should I ask him to discuss surgeon 
general or mention it or wait? Not sure kushner cares about that stuff 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 07:54:45 AM (507225285) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 79AF60ED-FD55-43F2-BBB0-4C52A44F50D8 
Message: kushner does not care 
Sender: 
Time: 01/27/17 07:56:23 AM (507225383) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 9C9CE664-9745-4898-A154-B34899A80415 
Message: K will wait 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 07:59:30 AM (507225570) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: OCB97F65-3AF4-47D9-8629-EDAE94870E94 
HOUSE OVERSIGHT 027133 
Message: ask him if he will see tom barrack, thats the most important. 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 07:59:45 AM (507225585) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: EFF78186-DDD1-4CD3-A5DC-F40B59057852 
Message: he is free to call me for inside baseball 
Sender: 
Time: 01/27/17 08:03:24 AM (507225804) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 41DA794F-399B-4F0E-9A2A-07FE34BE9B35 
Message: Vernon Jordan- Josh Bolton - Jared Kushner - Me 
Sender: 
Time: 01/27/17 08:03:59 AM (507225839) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 966267FE-BEF0-457B-B160-3939140489C0 
Message: That's who he is seeing He doesn't know barrack 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 08:04:24 AM (507225864) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: EE1A296D-8388-497F-9D68-304A4B3BDD11 
Message: vernon is lover, josh will not have a role. , jared is good. 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 08:04:28 AM (507225868) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: E51090A3-CD9F-42F0-A5EE-6F2AC1CC6FF5 
Message: over. 
Sender: 
HOUSE OVERSIGHT 027134 
Time: 01/27/17 08:04:39 AM (507225879) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: A9B35CB5-5OFF-48A4-AD8F-0E83CF987073 
Message: Will tell him 
Sender: 
Time: 01/27/17 08:04:47 AM (507225887) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: E82AB9B9-0136-4933-93B8-FE51BDO1F329 
Message: Maybe when we are together we can call you 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 08:04:53 AM (507225893) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: ElDAC7AF-B992-4BCC-9C4C-179243623768 
Message: bannon, barrack, puppet masters 
Sender: 
Time: 01/27/17 08:05:31 AM (507225931) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 87D64785-E7FC-4D00-812C-0236038CC30E 
Message: Ok good to know. He wants to talk to you but his wife won't let him 
Sender: 
Time: 01/27/17 08:05:41 AM (507225941) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 855DBA00-A0AF-441A-9C7B-98B31FD228DC 
Message: So perhaps can do as above 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 08:05:55 AM (507225955) 
Flags: 1085445 
HOUSE OVERSIGHT 027135 
Is Read: No 
Is Invitation: No 
GUID: ClOBDB80-6A93-47B0-94D6-54C2D1924120 
Message: clever 
Sender: 
Time: 01/27/17 08:06:33 AM (507225993) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: D435264C-0744-4579-9EE1-926C464415EC 
Message: Will try He loves you 
Sender: 
Time: 01/27/17 08:06:48 AM (507226008) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 45D2E5DD-68FF-4E67-8CB4-C3EECA36C667 
Message: And he says hi 
Sender: 
Time: 01/27/17 08:07:18 AM (507226038) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 907CE6CA-BAF4-4F89-9AC1-928F22FCDF34 
Message: He feels bad about the DAF btw He thought great idea but wife wouldn't allow 
Sender: 
Time: 01/27/17 08:28:50 AM (507227330) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: A0A8A259-6BAD-4DD5-8C50-0EF45CD87E53 
Message: I'm w him tonight 9p till ? Then till 1130am tmr 
Sender: 
Time: 01/27/17 08:29:13 AM (507227353) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
HOUSE OVERSIGHT 027136 
GUID: DO4F6A02-B315-402D-9D97-B8A61BE8D688 
Message: Will send you a text if I can make it happen I know our both enjoy catching up 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 08:29:19 AM (507227359) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 44281B8C-36B0-4562-A035-DOB94AB03041 
Message: Ok 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 12:19:42 PM (507241182) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 325C3E50-86D6-4AD6-B30E-AOFE736B2C44 
Message: Bill met my friend Kathy ruemmler , Obama counsel for 5 yrs . She would love 
to sit with Melinda and give her the other side of jeffrey 
Sender: 
Time: 01/27/17 12:27:17 PM (507241637) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: EF25C527-9B76-485F-AE42-580AE3A4F781 
Message: Can try, couldn't hurt 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 12:28:48 PM (507241728) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 73B4D550-66EF-4492-9DC6-9762A9D01CDF 
Message: Hillary loves Kathy as does Obama. She is an arch feminist who is my great 
defender 
Sender: 
Time: 01/27/17 12:33:34 PM (507242014) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 75EAD358-3C53-4FA9-971C-9FA6C3CF7D3E 
HOUSE OVERSIGHT 027137 
Message: Not sure individuals can influence once impressions are made. But I will try. 
I do not know for sure but I do think he would be unwilling to Bring it up with her. 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 12:36:50 PM (507242210) 
Flags: 1085453 
Is Read: No 
Is Invitation: No 
GUID: 9D1D965A-2761-43F3-A911-A02743553F79 
Message: <Unsupported Message Content> 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 12:36:50 PM (507242210) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 5C545515-1E9C-43D8-8399-15BDF3F98380 
Message: She's 45 and is in Seattle often 
Sender: 
Time: 01/27/17 12:37:15 PM (507242235) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: E4CC39F0-4AA5-4F75-9FDF-83107933ACD2 
Message: Me too. 
Sender: 
Time: 01/27/17 12:38:00 PM (507242280) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 2D9FFDE2-8F0D-4CD9-922F-F3OCB189C564 
Message: What a coincidence ha ha If there is a reason to meet other than to discuss 
you that would be compelling I can try directly To Melinda's office team I know some of 
them. 
Sender: 
Time: 01/27/17 12:38:24 PM (507242304) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 5C1D8BA8-357C-47C3-8E18-522538595722 
Message: I probably would have to meet this person first since her team doesn't usually 
HOUSE OVERSIGHT 027138 
appreciate second hand introductions 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 12:38:53 PM (507242333) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: AlCBA8ED-9702-4A29-A25F-12F472094D6D 
Message: Ok 
Sender: 
Time: 01/27/17 12:38:56 PM (507242336) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: AC3119AC-023E-4557-A211-2412F0D9D77E 
Message: They also feel like they find the ppl they want to speak to and not vice Versa 
Or at least that's my experience firsthand 
Sender: 
Time: 01/27/17 12:39:03 PM (507242343) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 8B6F9OCB-6139-4494-8756-308E839FA122 
Message: Poor B 
Sender: 
Time: 01/27/17 12:39:52 PM (507242392) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: E7F62775-9455-42BE-953C-9E519599C2DA 
Message: If there's an opportunity to promote something specific I can propose to her 
pivotal ventures team. 
Sender: 
Time: 01/27/17 12:55:32 PM (507243332) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 6FBA0910-5F8D-44F0-8838-F58952E7F8B2 
Message: Have been thinking that o bet there is a way to make her feel great and maybe 
a little happy if there was a like female TED that she could be the patron of - folks 
HOUSE OVERSIGHT 027139 
would love that and it would allow her to be at the center of some Powerful agendas 
that she cares a lot about But not sure she's up for it or even how to do it 
Sender: 
Time: 01/27/17 12:56:27 PM (507243387) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 774A2128-8891-4D4F-8C24-D468BE99FDF5 
Message: Like maybe a legacy ""I'm with Her"" that she and Hillary Clinton could co own 
and build out over many years 
Sender: 
Time: 01/27/17 12:56:41 PM (507243401) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 8E4591C8-7415-433C-A685-0E1BBF48EB1B 
Message: They could brand and sponsor cool Stuff and empower a lot of people 
Sender: 
Time: 01/27/17 12:57:15 PM (507243435) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: C27BF8FB-C859-4564-B06D-B6DA22867916 
Message: None of my business but I think there's enough happiness out there for 
everyone 
Sender: e:jeeitunes@gmail.com 
Time: 01/27/17 08:22:52 PM (507270172) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: DD889D71-0C11-4915-9282-26332144A134 
Message: ??? 
HOUSE OVERSIGHT 027140 
"
IMAGES-002-HOUSE_OVERSIGHT_014316.txt,"Conference tone bullish into 2017

We recently hosted over 90 public and private companies and 700 attendees at our
Future of Financials conference, where investor attendance was up an impressive 66%
YoY. The tone from management and investors was uniformly bullish, with more
generalists attending than we've seen in previous years. When asked how they would
describe their portfolio positioning in financial stocks, 60% of the investors polled noted
that they are either slightly overweight or very overweight the sector (see Chart 1).

Chart 1: How would you describe your portfolio positioning in financial stocks, excluding insurance
and REITs?

40% 37%
35%
30%
25%
20%
15%
10%

5%

0%

Very overweight Slightly overweight Neutral Slightly Very underweight
underweight

Source: BofA Merrill Lynch Global Research

New this year, we hosted expert panels on the evolution of clearing, fixed income
market structure, equity market structure, and payments, and how innovation in
blockchain, big data, and robo advisory can change the game. Strong panel attendance
suggested high interest in these themes, and polling feedback suggests shareholders
want banks to make investment spend in innovation a priority -- so long as its self
funded with savings found elsewhere. 68% of those polled across multiple company
presentations believed that institutions should invest in innovation projects but be
mindful of self-funding (see Chart 2).

Chart 2: Chart 2: As a shareholder, what statement most closely aligns with your view on how
traditional financial institutions should allocate investment spending on innovation?

80%
70%
60%
50%
40%
30%
20%
10%

0%

Investment spending on Given the revenue Institutions should focus on
innovation should be top ~— environment, institutions should improving the bottom line and
priority invest in innovation projects but delay innovation projects
be mindful of self-funding

Source: BofA Merrill Lynch Global Research

2 2016 Future of Financials Conference | 17 November 2016 Bankof America 2
Merrill Lynch

HOUSE_OVERSIGHT_014316
"
TEXT-001-HOUSE_OVERSIGHT_031751.txt,"From: Darren lndyke [dkiesg@aol.com] 
Sent: 5/3/2018 9:44:08 PM 
To: jeevacation@gmail.com 
CC: Darren lndyke 
Subject: Fwd: Google Alert - Jeffrey Epstein 
Importance: High 
Privileged - Redacted 
DARREN K. INDYKE 
DARREN K. INDYKE, PLLC 
575 Lexington Avenue, 4th Floor 
New York, New York 10022 
****************************************************************************************************** 
The information contained in this communication is confidential, may be attorney-client 
privileged, and is intended only for the use of the addressee. It is the property of 
Darren K. lndyke, PLLC. Unauthorized use, disclosure or copying of this communication 
or any part thereof is strictly prohibited and may be unlawful. If you have received this 
communication in error, please notify us immediately by return e-mail, and destroy this 
communication and all copies thereof, including all attachments. 
Copyright of Darren K. lndyke, PLLC - @ 2018 Darren K. 
lndyke, PLLC — All rights reserved. 
******************************************************************************************************* 
Begin forwarded message: 
From: Google Alerts <googlealerts-noreply@google.com> 
Subject: Google Alert - Jeffrey Epstein 
Date: May 3, 2018 at 4:38:01 PM EDT 
To: 
Jeffrey Epstein 
As-it-happens update • May 3, 2018 
HOUSE OVERSIGHT 031751 
Tom Arnold is gonna find the pee tape 
AV Club 
... Trump and Charles Kushner with ""young Russian hookers"" in Florida; a tape involving 
billionaire and convicted sex offender Jeffrey Epstein; what Arnold has called Trump's ""version 
of the Ray Rice elevator tape;"" assorted ""Howard Stern tapes;"" and, most obviously ""The Pee Pee 
Tape,"" essentially the ... 
as irrelevant 
See more results Edit this alert 
You have received this email because you have subscribed to Google Alerts. 
Unsubscribe I View all your alerts 
Receive this alert as RSS feed 
Send Feedback 
HOUSE OVERSIGHT 031752 
"
IMAGES-005-HOUSE_OVERSIGHT_019434.txt,"MOOCs, took heart from this.

What exactly can the administration do to hasten technological innovation besides hosting datapaloozas? The fact sheet
points to two proposals: one that requires money, and one that doesn't. A “First in the World” fund of $260 million,
presumably requiring congressional approval, would “test and evaluate innovative approaches to higher education that
yield dramatically better outcomes.” Education officials liken this to a $650 million “Investing in Innovation” fund created
under the 2009 stimulus law that has been used as seed money for experiments in K-12 education.

And the Education Department could cut regulatory barriers to innovation, whatever those might be. Education officials said
Friday that they plan to solicit ideas from colleges on what government rules are hindering innovation. Many educators
might say that red tape gets in the way of experiments in distance learning and degree programs not organized around the
traditional credit hour.

The fact sheet asserts: “The Department will use its authority to issue regulatory waivers for ‘experimental sites’ that
promote high-quality, low-cost innovations in higher education, such as making it possible for students to get financial aid
based on how much they learn, rather than the amount of time they spend in class.”

Back to top

Massively Online And Offline Too: How MOOCs Will Evolve In The Physical World
Giovanni Rodriguez — Forbes

| was at the airport about this time last Sunday, when | overheard a conversation that’s becoming quite commonplace. One
person was explaining to another what a MOOC was, but he couldn’t remember what the letters stood for. As someone who
regards himself as an amateur, ad-hoc, in-the-moment teacher, | felt compelled to help him out: “Massive. Open. Online.
Course.” He thanked me. He had been struggling to remember the “open” part of the MOOC message. And, even more
interesting, he had been struggling to remember the word “course.”

Over the past few months, more and more clients and partners have been coming to me to deconstruct not just the acronym
but also the attributes of MOOCs. So often in fact that | have decided to write a short series on the subject. There are many
things to say about both the true impact and hype about MOOCs in the larger narrative that’s emerging about disruption in
education. But from where I sit, what’s most important to note about MOOCs in 2013 is something that the acronym does
not yet capture: the massive disruption we’re seeing in education will be online and offline, too.

Experience

There are at least three reasons for this. And each of these reasons deserves at least one post, but I'll be super brief here.
The first is that the online experience of MOOCs will almost certainly evolve in a way that teachers, students, and staff will
look to find ways to meet with one another. This will either happen by design (by intent and with care) or it will happen
organically. Almost certainly, the producers of MOOCs will look to do this with some sense of design, while leveraging the
organic power of networks to grow by themselves. And if you have been following the evolution of MOOCs, you already
know that the online experience is still a work in progress. My business colleague, Chris Bennett — a behavior designer and
gamification expert — and | recently spoke about this: many are stuck in the old paradigm of delivering education to the
consumer, rather than leveraging the greatest assets of the new medium (co-creation, crowdsourcing, collaboration). By
redesigning the online experience to become more interactive, innovators in the MOOC world will see the possibilities for
offline experience.

Inventory

Another reason for thinking about physical space: while the world ponders the impact that the costs of higher education will
have on schools that are struggling to compete, the inventory of quality physical space that becomes available will appeal to
organizations that need it. A couple of years ago, | had the privilege of serving as an advisor to a White House initiative that
traveled the country meeting with leaders in large spaces in a network of state and community colleges. As a former
theater producer, | was impressed with the availability and quality of these spaces. In theater — and other kinds of shared,
quasi-spiritual, transformative experience — physical space is everything. Innovators in the MOOC world will get wise — if
they haven't already — to the existence of networks of spaces (there are many different networks, as | will show in a later

HOUSE_OVERSIGHT_019434
"
IMAGES-002-HOUSE_OVERSIGHT_013479.txt,"Case 9:08-cv-80893-KAM Document 168 Entered on FLSD Docket 06/28/2010 Page 4 of 4

Doe v. Epstein

CASE NO.: 08-CIV-80893-MARRA/JJOHNSON

Page 4

Certificate of Service

I HEREBY CERTIFY that a true copy of the foregoing was electronically filed

with the Clerk of the Court using CM/ECF. I also certify that the foregoing document is

being served this day on all counsel of record identified on the’ following service list in

the manner specified via transmission of Notices of Electronic Filing generated by

CM/ECF on this 28"" day of June, 2010:

Brad Edwards, Esq.

Farmer, Jaffe, Weissing, Edwards, Fistos
& Lehrman, PL

425 N. Andrews Ave.

Suite #2

{e)

Paul G. Cassell, Esq.

Pro Hace Vice

332 South 1400 E, Room 101
Salt Lake City, UT 84112

Jack Alan Goldberger, Esq.
Atterbury Goldberger & Weiss, P.A.
250 Australian Avenue South

Suite 1400

West Palm Beach, FL 33401-5012

Co-Counsel for Defendant Jeffrey Epstein

Respectfully submitied, .

By: _/s/ Robert D. Critton, Jr.
ROBERT D. CRITTON, JR., ESQ.
Florida Bar No. 224162
rerit@belclaw.com

MICHAEL J. PIKE, ESQ.

Florida Bar #617296
mpike@belclaw.com

BURMAN, CRITTON, LUTTIER &
COLEMAN, LLP

303 Banyan Boulevard, Suite 400
West Palm Beach, FL 33401
561/842-2820 Phone

561/243-0164 Fax

(Co-Counsel for Defendant Jeffrey Epstein)

HOUSE_OVERSIGHT_013479
"
IMAGES-011-HOUSE_OVERSIGHT_031399.txt,"From: Lilly Sanchez as

Sent: 3/5/2019 11:08:12 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Herald

Importance: — High

Miami U.S. Attorney’s Office recuses itself from Jeffrey Epstein case

Play Video

DurationA 3:51
AG nominee Barr pledges to look into handling of Epstein case

Sen. Ben Sasse questioned attorney general nominee William Barr about the Jeffrey Epstein case on January 15,
2019, getting the nominee to commit to having the Department of Justice look into the handling of that case if
confirmed. C-SPAN Meta Viers

BY JULIE K. BROWN

jbrown@miamiherald.com

OOO00C0O

Just days before a Friday deadline, the Justice Department has reassigned the Jeffrey Epstein victims’ rights case to

the U.S. Attorney’s Office in Atlanta, the attorneys representing Epstein’s victims’ attorneys said Tuesday.

Miami federal prosecutors, in letter to attorneys for the victims’s lawyers on Monday, said they had recused

themselves from the case, according to Brad Edwards and Jack Scarola, representing Epstein’s victims.

The reassignment means that the U.S. attorney for the Northern District of Georgia, Byung J. “BJay” Pak, will
oversee the case for the government. Pak, a former Georgia lawmaker, was appointed Atlanta’s chief federal

prosecutor by President Trump in October 2017.

The Justice Department is still under a Friday deadline for prosecutors to confer with the victims’ attorneys in an
effort to settle the case. On Feb. 22, U.S. District Judge Kenneth A. Marra in Palm Beach ruled that federal

prosecutors, under former Miami U.S. Attorney Alexander Acosta, broke the law when they concealed a plea

HOUSE_OVERSIGHT_031399
"
IMAGES-009-HOUSE_OVERSIGHT_027041.txt,"From: Lisa New

Sent: 10/6/2013 12:57:52 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re:

Importance: — High

This event is at the apartment of the chairman of the YIVO board. My plan had been to take the 4 or 5 shuttle
and cab right here

Sent from my iPhoneg

On Oct 6, 2013, at 6:20 AM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

ill check ,, what time do you have to be in ny on the 23 rd? ?.

On Sat, Oct 5, 2013 at 10:59 PM, Lisa New -— g wrote:

Jeffrey,

For taping in Cambridge? For breakfast and taping at my house. Depends on what woody is up for. My ideal
would be a 1/2 hour-40 minute conversation, but we could do a quick taping in 15 minutes ...my team can be
ready

And , just to remind,could also come to do taping in ny on 24th because I'm coming to New York the evening
of 23rd fora YIVO event--to which you would both be most welcome I'm sure (YTVO is the largest collection

of materials from Jewish Eastern Europe)
Lisa

Sent from my iPhone

On Oct 5, 2013, at 8:36 PM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

how much time should 1 allocate?

On Sat, Oct 5, 2013 at 3:26 PM, Lisa New < > wrote:
Or we could do the taping at my house. That would be totally delightful too

On Sat, Oct 5, 2013 at 1:59 PM, Lisa New <> wrote:

Absolutely. 23rd is great. I teach my seminar that day at 1 but could tape in the morning or after class--in
my office (very private), or at the Harvardx studios (less) or in the Woodberry poetry room (the nicest place).
. If Woody wanted, we could bring some students into the taping or just do the two of us...

Woody is absolutely welcome to come to the seminar, of course

HOUSE_OVERSIGHT_027041
"
IMAGES-009-HOUSE_OVERSIGHT_028372.txt,"b02b0-dccf-4455-8376-

0449bfc22216"",""imageldentifier"":""a77 7dbfba94385fd567a8e2510681990"",""type"":""image""},""bee1af04-
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8c8c1b46e888"",""classification"":""font"",""fileSize"":0,""fontAttributes"":{""familyName"":""Proxima
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d73ec572e22d"":{""URL"":""asset://bfe58a02-9a99-4 1 a6-b3f0-
d73ec572e22d"",""classification"":""image"",""dimensions"":{""height"":1746,""width"":1746},""fileSize"":0,""identifier"":
""bfe58a02-9a99-4 1 a6-b3f0-
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c019-4fff-a87b-533dfd4dbebf"":{""URL"":""asset://c 1 f09000-c01 9-4 fff-a87b-
533dfd4dbebf"",""classification"":""image"",""dimensions"":{""height"":98,""width"":750},""fileSize"":0,""identifier"":""c1f0
9000-c019-4fff-a87b-

533dfd4dbebf"",""imageldentifier"":""a7 77dbfba94385fd567a8e2510681990"",""type"":""image""},""c21f3401-771e-
46c7-bef2-5171989907d7"":{""URL"":""asset://c21f3401-771e-46c7-bef2-
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2d70b54b0a1f"",""classification"":""image"",""dimensions"":{""height"":300,""width"":300},""fileSize"":0,""identifier"":""c7
2484f1-e021-4133-b7ec-
2d70b54b0a1f"",""imageldentifier"":""2573b84af8463d079b40a5ed75dd8363"",""type"":""image""},""c7a18b46-
beca-4445-9d93-3e9219462b5a"":{""URL"":""asset://c7a18b46-beca-4445-9d93-
3e9219462b5a"",""classification"":""image"",""dimensions"":{""height"":200,""width"":300},""fileSize"":0,""identifier"":""c
7a18b46-beca-4445-9d93-
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175b26f7922c"",""classification"":""image"",""dimensions"":{""height"":675,""width"":1080},""fileSize"":0,""identifier"":""d
a07ab13-6f62-444e-b707-

175b26f7922c"",""imageldentifier"":""eb88ad9fc271 ffe1479f58c832614acd"",""type"":""image""},""dde21e8b-5dba-
4458-8edd-9ffOcebdf47b"":{""URL"":""asset://dde21e8b-5dba-4458-8edd-
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HOUSE_OVERSIGHT_028372
"
IMAGES-006-HOUSE_OVERSIGHT_021313.txt,"psychology to (at least momentary)
consideration of a career in government
service. A student with the long-held
intent of becoming a researcher and with
no interest in politics, government, or
public service might seem to be an
immovable object. And yet, in that
moment, Jordan’s speech had sufficient
impact to make government service
seem like the only path one would want
to take or should ever consider.

Although her points were argued
well, the impact of Jordan’s speech was
not simply rhetorical. John F.
Kennedy’s “Ask not what your country
can do for you....” and Martin Luther
King, Jr.’s “I have a dream....” affected
listeners deeply well beyond the
cognitive strengths of a good argument.
Moreover, while all these speeches were
delivered beautifully and from the heart,
it is not the performance of these
speeches alone that can move listeners to
act on behalf of others. The
performance alone cannot give substance
to an empty message. While there are
cases in which a great performance may
suggest briefly that there was content of
import even in the absence of a real
message, it is more likely the
conjunction of message and delivery that
moves people. In these speeches is a
clear demonstration of the power of
language. Language is more than words
and more than delivery. Indeed, Cicero,
in De Oratore, said that rhetoric conveys
information, persuades listeners, and
evokes emotion.

“In the beginning was the word....”

If “the word made flesh” is taken
metaphorically, the power of language
can be made visceral in sermons.
Consider the power of Jonathan
Edwards’ sermon, which Clark Gilpin’s
chapter discusses, to terrify a

Page | 67

congregation, to wrench them from
complacency with images of torment. A
sermon delivers a message, but it can do
so in calm tones of instruction or with
fire and brimstone. The choice and
poetry of words and the cadence and
intonation of speaking can draw the
listener in slowly or seize the listener
suddenly, the very sounds of speech
painting images in the mind while
igniting new inferences with literal and
metaphoric descriptions.

In the realm of the spiritual, there
are few corporeal manifestations that can
be perceived directly. Neither heaven
nor hell, neither God nor the Devil can
be seen or heard or touched. Preaching
is needed to spell out the work of unseen
hands and will and illuminate the power
of the unseen. The force of that which is
not seen can only be felt when
transmitted directly through speech.

In Phaedrus, Plato described
rhetoric as the art of leading the soul.
Thus it is not surprising that, while at the
core of religion is a collection of beliefs
and concepts and canons, the fabric and
form of religion is language. Symbols
and icons are certainly important, but
language is the medium through which
the force of theology is actualized in
prayers, benedictions, sermons, and
teaching. Language can reach across
time and space to change minds,
feelings, and behavior, encoding laws
and beliefs and presenting them with a
concrete reality in the here and now.
This is one kind of impact from author to
audience in which a kind of connection
is constructed bridging minds.

At the same time, in religious
practices, another kind of connection is
formed within a congregation. Joint
recitation, responsive reading, collective
listening, and understanding may serve

HOUSE_OVERSIGHT_021313
"
IMAGES-004-HOUSE_OVERSIGHT_017050.txt,"Figure $11

— AdriendeM — Henry David Thoreau
> — Albert de Mun ¢
Oo
=
oO
®
we
Ww
k 0.0
1800 1850 1900 1950 2000 1800 1850 1900 1950 2000
Cc Years D
1.0
> — Oliver Lodge >
oO Oo
= O05 =|
o oO
® ©
= wa
Ww Ww
0.0 0.0
1800 1850 1900 1950 2000 1800 1850 1900 1950 2000

Years Years

Fig. $11. Selection of query name. The chosen query name is in black. (A) Adrien Albert Marie de Mun.
Strongest and optimal query name is Albert de Mun, (B) Oliver Joseph Lodge, strongest and optimal
query name is Oliver Lodge, (C) Henry David Thoreau. Strongest query name is David Thoreau, but is a
substring match of Henry David Thoreau, with fame >80% of David Thoreau. Optimal query name is
Henry David Thoreau. (D) Mary Tyler Moore. Strongest name is Mary Moore, but is rejected because of
noise. Next strongest is Tyler Moor, but this is a substring match of Mary Tyler Moore, with fame >80%

of Tyler Moore. Optimal query name is thus Mary Tyler Moore.

HOUSE_OVERSIGHT_017050
"
IMAGES-003-HOUSE_OVERSIGHT_014987.txt,"Volatility in Asia
Long HSCEI-SPX volatility spread via corridor variance

Global synchronized monetary tightening is positive for EM vol

Emerging markets have been the biggest beneficiaries of the central bank-fueled
abundance of liquidity. However, we think the tide may be turning as last week, the Fed,
ECB, and BOE all delivered policy announcements with hawkish tones. How far they
really go to tighten policy when economic data is weakening still remains unknown.
However, we think the uncertainty surrounding tightening will be more positive for EM
volatility than for DM volatility.

Chinese banks: Rapid increase in leverage is a big concern

The HSCEI currently has a 70% weight in the financial sector. Recently, BofAML analyst
Winnie Wu turned very bearish on the sector as (1) leverage has rapidly increased—debt
to GDP rose by 18% in 2016 and may go above 300% by 2019, (2) shadow banking has
become too big, too complicated, and too levered to easily regulate—even at the
highest quality bank, China Merchants, off-balance sheet wealth management products
(WMP) have grown to 40% the size of on-balance sheet assets from just 18% two years
ago, and (3) excessive home price inflation—low and middle-income households are late
to the party and a correction in prices could have a systemic effect as property assets
have been used as collateral in WMPs.

SPX: The Fed is now “collaring” the market

Since the global financial crisis the Fed has been well known for providing a put option
by its willingness to step in during periods of market stress. However, post the Fed
meeting last week, it appears the central bank has decided to cap its monetary support
as some FOMC members seem worried that financial conditions are too loose.
Effectively, the market is now “collared” (more so for the SPX compared to EM) as the
downside is protected by the Fed put (though with a lower strike price) while the upside
is capped by log-jammed fiscal policy and positioning, where the risk of quant funds
selling record equity positions meets cashed-up investors still accustomed to buying-
the-dip.

The depressed implied China vs. US risks should reverse

With the steep drop in global risk premium, the HSCEI-SPX 18-month variance swap
spread has fallen back to the lower-end of its 5-year trading range. Since we believe the
global synchronized monetary tightening will impact HSCE! volatility more than SPX
volatility, we recommend owning HSCEI-SPX 70/110% corridor variance at 5 vol points,
a 3 vol point discount to vanilla variance spreads. Investors will be exposed to the
realized vol spread between HSCEI and SPX as long as HSCEI stays within 70-110% of
its initial level. Pricing of corridor variance is cheaper than vanilla variance as investors
can avoid paying for the rich HSCEI convexity below the 70% barrier. The trade has a
positive carry and benefits during China risk-off events.

Note that the potential HSCEI index enhancement will reduce the financial weightings in
HSCEI from 70% to 50% and lower realized volatility by 1.8 vol points. However, the
enhancement will be implemented in stages. It will probably start in Dec-17 at the
earliest and will not be fully implemented by the end of 2018, in our view.

Indicative pricing (As of 19-Jun-17)
Buy HSCEI-SPX Dec-18 70/110% corridor variance swap: 5 vol points

deg oes Bankof America
16 Global Equity Volatility Insights | 20 June 2017 Merrill Lynch

HOUSE_OVERSIGHT_014987
"
IMAGES-004-HOUSE_OVERSIGHT_018363.txt,"Parisian would endorse.1® “A man returning after years of absence would have
known, with his eyes shut, that he was in that ancient capital and imperial city,
Vienna.” To really get a feel for that age, watch just a few frames of Russian director
Dizga Vertov’s jittery 1929 black and white film Man with a Movie Camera’, Each
moment of the movie is alive with the tension of a new, rushing and industrial age.
You won't be surprised Vertov’s list of requirements as he prepared to start filming
began: “1. A rapid means of transportation.” His aim was to immortalize urban
speed on the new medium film; he knew he needed to be fast.184

To know a city by it’s pace. Musil was touching something deep here, an instinct that
beats in each of us and runs from this fact: The speed of an event affects how we
perceive it. The difference between what you will notice when walking up a hill -
chirping bugs, tiny rocks, changes in color and gradient - and driving up that hill is
so complete as to be almost different experiences entirely.!®° When the whole world
tumbles upon us at fiber-optic speed, when invasions and revelations and accidents
all spread at the rate of WiFi or cell phone radiation, our sense of time blurs. You
have to wonder what Simmel would have made of a smart phone. “It is not merely
that the medium is the message, but the velocity of the medium,” Paul Virlio
observed once in one of his many studies on speed and mind.186

Life in our connected age is both instant and always on, what Simmel might have
called “the technique of network life.” This demolishes an older, easier sense of pace.
Computers were once switched on at 9 and off at 5 — just like their human masters.
But digital activity is constant now. The networks are paying attention all the time.
They have to. Our machines - tractors and trains and cars - used to echo our pace of
life. Now we echo theirs. The machines, the New Caste, the black boxes - they tick
along constantly, ever faster. We rely on them, as we've seen, for our safety. We
want them to be fast. To be instant. But what is this doing to us? Is completely
unhooking us from any sense of time really a good idea?

It was certainly true, as Brand insisted, that the Clock of the Long Now was meant as
a reminder, as a kind of constant totem to the fact that we’re all just a small tick on

182 “Cities can be recognized”: Robert Musil, The Man Without Qualities Vintage
(1996) 3

183 To really get a feel: Vertov’s movie is shot in Moscow, Kiev, Odessa and Krakow.
In 2003 The Cinematic Orchestra produced a modern soundtrack to accompany it.
184 “A rapid means”: Jonathan Dawson, “Dziga Vertov” Great Directors March 2003
Issue 25

185 Ajahn Brahm of the Buddhist Society of Western Australia tells a wonderful story
in his Dharma talks about a day in which he decided not to be driven up the road to
his monastery in Perth, but instead walked the road. He was flooded by the
sensations of nature, all invisible from the inside of a car. One way to change your
perspective, he means, is to change the speed at which you are moving through life.
See the Buddhist Society of Western Australia website for a catalog of his talks.

186 “It is not merely that the medium”: Paul Virilio, Information Bomb trans. Chris
Turner (London: Verso, 2000), 141

131

HOUSE_OVERSIGHT_018363
"
IMAGES-003-HOUSE_OVERSIGHT_015441.txt,"was mildly disappointed, but what follows are half a dozen of my really
dangerous dumb decisions that continue to make me humble.

1. Early one morning in 1963, at my tiny apartment on the Lower
East Side of New York (now the East Village), | was in bed with a young
woman | had met at a party, when the phone rang. It was her boyfriend, a
lower-echelon Mafioso. He asked if | knew where she was. | told him no,
even as she was cuddling next to me. He said he would check his source
and call me right back. A few minutes later, he did.

“You were seen with her last night. You spent the night with her.
She didn't come home last night. You punk!

He said that he was coming to my office a few blocks away—-which is
where he thought he was calling me--to talk about it. | told her she'd
better leave, and | rushed to the office, but he was already waiting outside
the “Mad building” [where MAD magazine was published], peering
through the locked outside door into the lobby, expecting the elevator
door to open and me to step out and open the door for him. Instead he
saw me on the sidewalk coming toward him.

“What are you doing out here?” he said.
“Well, | came out just a minute ago, but you weren't here.”

“| was calling you up because you didn't come out.”

HOUSE_OVERSIGHT_015441
"
IMAGES-010-HOUSE_OVERSIGHT_029820.txt,"announced that he had earned their
support — and their vote.

Then, during his confirmation hearings
on January 31, Hagel — under hostile
questioning from several Republican
senators — backed away from earlier-held
positions on Iran, including the role of
sanctions. And, though he previously
been a sharp critic of a military attack on
Iran, in his opening statement Hagel said:
“T am fully committed to the President’s
goal of preventing Iran from obtaining a
nuclear weapon, and—as I’ve said in the
past—all options must be on the table to
achieve that goal. My policy is one of
prevention, and not one of containment—
and the President has made clear that is
the policy of our government. As
Secretary of Defense, I will make sure
the Department is prepared for any
contingency.”

Satloff's views were echoed by another
tough-talking official at WINEP, former
Ambassador Dennis Ross, a pro-Israel
hawk who served as Obama’s top adviser
on Iran during much of the president’s
first term. “I think 2013 is going to be
decisive,” Ross told the Los Angeles
Times, expressing concern about Hagel’s
previous comments. “Time really is
running out. For diplomacy to have a
chance of success, the Iranians need to
understand that if diplomacy fails, force
is going to be the result. We still have a

HOUSE_OVERSIGHT_029820
"
TEXT-001-HOUSE_OVERSIGHT_030328.txt,"From: Noam Chomsky 
Sent: 12/26/2016 6:56:58 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
CC: Valeria Chomsky 
Subject: Re: 
Importance: High 
I read what his ghost-writer said about him. Pretty scary. 
Reminds me of something I was told by Jon Snow, one of England's most sensible newsmen. He was with the 
press entourage accompanying Tony Blair on his visit to Saudi Arabia, and walking around one of the palaces 
one day, he saw Blair sitting in a room with a book in his lap, which greatly surprised him -- until he came over 
to talk. It was the New Testament. 
And then Blair started telling about how delighted he and Cheri were with the gold door handles,.... 
I notice that your prediction was right about Trump's avoiding the White House as far too primitive. Must be 
driving the Secret Service up the wall. 
I'll keep in mind what you say about Trump's tweets, but they are hard to ignore. Whatever he may think, 
others here and abroad can't help considering the meaning of the words, and take action accordingly. 
About meaning, It's not clear to me how to distinguish the meaning of ""New York"" (however it is correctly 
specified) from the concept. Still don't see how to work out field models. 
Noam 
On Mon, Dec 26, 2016 at 12:27 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
one of donalds closet people said that remember, he has written three books. 
few people in the world that has written more books than he has read 
which makes him one of the 
On Mon, Dec 26, 2016 at 9:59 AM, Noam Chomsky < wrote: 
For word meanings, the closest I can think of to something like this is an array of meaning postulates, in 
Carnap's sense, something that Jerry Fodor for one has toyed with. Multidimensional, but not a field. I don't 
see how to work it out, or to extend it to the interpretations of longer units. 
On Mon, Dec 26, 2016 at 5:51 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
happy chanukah. . - has anyone in the past made a linguistic model that used fields instead of 
definitions, similar to a magnet field. to some degree. there is no one vector that describes the word but 
a field of them. home surrounded by a field of definitions. not based on 3 d space but based on context 
. one could integrate over the field. see smoothness. strength, change. . not sure it is useful. but 
having fun 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
HOUSE OVERSIGHT 030328 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030329 
"
IMAGES-008-HOUSE_OVERSIGHT_026071.txt,"portfolio of assets. These returns should be in line with the anticipated returns from the First Fund portfolio
which is forecast to deliver a gross IRR of up to 14% and a multiple of approximately 2x on invested capital.

TIIC announced the first close of TIIC 2 on December 30"" 2016, with aggregate commitments of €135m from
a group of high quality and well-diversified limited partners. First close investors in TIIC 2 include the
European Investment Bank and Edmond de Rothschild, both with significant commitments, as well as the
TIIC team. TIIC 2 is also supported by a number of existing investors, together with several European
insurance companies, pension funds and family offices. A second close is planned in the coming months and
the final close will occur before the end of 2017. We have received significant interest from a number of
European institutional investors, many of which are in the process of completing detailed due diligence on
TIIC 2. We are firmly on track to achieve a final close of TIIC 2 before the end of the year.

Furthermore, TIIC has announced the first exit from Fund 1, with outstanding returns. Three other
investments are in sales processes and should close during the next few months.

BRIDGE

BRIDGE is an infrastructure debt platform initiated by Edmond de Rothschild Asset Management (EdRAM) to
enable institutional investors to access infrastructure assets with secured and stable revenue streams. BRIDGE
is a London based second generation debt fund sourcing and structuring transactions directly from sponsors
when feasible and one of the few independent debt teams only investing on behalf of clients. The BRIDGE
team has the ability to execute and deliver transactions as efficiently as traditional lenders as well as negotiate
terms and conditions bringing optimised yield and security to investors.

The BRIDGE platform was set up as a new leg of EDR’s Infrastructure, Real Assets & Structured Finance Team
striving to take advantage of the expertise of the infrastructure sector acquired when the team became a
global leader in PPP & Transport infrastructure financial advisory in 2011 and 2012.

The BRIDGE platform raised € 400m of new monies in 2016 and has successfully reached the €1bn mark of
Assets under Management at the end of 2016. The platform comprises three investment vehicles (French FCT
and Lux SIF) and is currently fundraising for additional pockets of liquidity:

o BRIDGE | reached final closing in December 2014 with approximately €600m of aggregate commitments from a club
of institutional investors.

o BRIDGE | Dedicated Compartmentis a vehicle created by a large European institution and anchor investor of the first
fund with a €250m target amount available for deployment.

o BRIDGE Il reached first close in December 2016 with €150m of commitments in order to invest in three transactions.
Fundraising for BRIDGE Il is still ongoing, targeting a group of institutional investors in Europe and elsewhere, with final
target size of €600m.

HOUSE_OVERSIGHT_026071
"
TEXT-001-HOUSE_OVERSIGHT_029679.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 10/24/2012 4:58:47 PM 
To: Weingarten, Reid 
have one of your cronys ask to see the mortgage to mara lago cash from electricinas union„ ( his driver MAtt 
was the bag man, later made an exec at the public co. ) and the 30 milllion dollar loan from the casino to donald 
trump. backdated, 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029679 
"
IMAGES-001-HOUSE_OVERSIGHT_011969.txt,"IN UME CARC TT COURT OF THE ELLVENTHIUDICIAL cIRcu oo} bk Lt
is AND FOK MIAMLDADE COUNTY, FLORIDA | :

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apemiiant wilt ih, Ovlendant. be we that dw Utendast shoal ftlzssd aula Count owe ids nd bs
Audited pully. whole Cound nao ib wil be elle prema ind th Debrenlan will pe sentences on

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! Cer (le seats Guth Gained defbrietd bs minciens e140 years Pe diwiee wits Dae

Petal onde ol rsttiue of VIR te kein Afedchs, (LC at a cemen monhls pesmusn a

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POEL ony PRT $0 Cle uti titer hay Oepartnenm of bones tié ol WS AKU tan hie

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EXHIBIT |

HOUSE_OVERSIGHT_011969
"
TEXT-001-HOUSE_OVERSIGHT_031036.txt,"From: jeffrey epstein [jeeyacation@gmail.com] 
Sent: 5/16/2011 8:28:27 PM 
To: Richard Kahn 
Subject: Re: Check ou1- Sok p5 Google 
Yes 
Sorry for all the typos .Sent from my iPhone 
On May 16, 2011, at 5:10 PM, Richard Kahn 
confirming that donation is to Stockholm School of Economics for 25k 
Richard Kahn 
HBRK Associates Inc. 
301 East 66th Street, Suite 1OF 
New York, NY 10065 
On May 14, 2011, at 7:52 PM, Jeffrey Epstein wrote: 
25k from enhanced ed 
Forwarded message 
From: 
Date: Sat, May 14, 2011 at 6:43 PM 
Subject: Re: Check out 
To: jeevacation@gmail.com  
- Sok pa Google 
wrote: 
JEFFREY EPSTEIN - YOU ARE THE BEST - YOU MADE NOT ONLY MY DAY BUT MY TRIP! TACKHBE 
In a message dated 2011-05-14 12:18:45 Eastern Daylight Time, jeevacationaqmail.com writes: 
she has been in my house. I will give you the 25k that you need. 
On Sat, May 14, 2011 at 5:20 PM, wrote: 
Click here:________________________- Sok pa Goodie I met this terrific girl in a church in Gotland, godmother to my friend 
Angelina Johns baby girl..she was so beautiful I thought - and she is obviously! And nice! Wants to do 
more good for Africa than she already does..thought of you but she may not be the Swedish girl we look for.... 
I am packing last minute - did not hear back from you...its ok I understand if it was much to ask for...but you did it last 
year so now when things are tough you spoilt me..! I will meet your friend Bill Clinton in Stockholm this Thursday - at the 
royal opera!! - next year SALSS - if I survive this year...will have a focus on Globalization and I thought I ask him to 
come....?! Anyway, off we go, me and Lalla...to start with to interview 10 candidates for FEOY 2011...Much love BE 
HOUSE OVERSIGHT 031036 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacationagmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 031037 
"
IMAGES-002-HOUSE_OVERSIGHT_014471.txt,"Chart 27: 3% Global GDP growth the tipping point for EPS
Europe trailing EPS growth vs World GDP

Chart 28: Synchronised rise in leading indicators globally augurs well for
earnings recovery — especially if PMs kick on to or above mid-50s

50% 7% 65 60
40% - ' 0
30% 504
20% : 56 20
10% 4% 50
0% 3% P 0

“10% 2% -20
-20% - 40
-30% » 35 -40
-40% 6

30 60
“50% “1% 01/98 01/01 01/04 01/07 O10 0113 01/16

Q496 Q499 Q402 Q405 Q408 Q411 Q414 Q417

Source: BofA Merrill Lynch Global Research, Datastream, IBES

MSCI Europe 12m trail EPS (IBES) ———World GDP (right)

=———|SM / Euro PMI manuf avg (advanced 9m)
=———|MSCI Europe EPS € (trailing yoy, RHS)

Source: BofA Merrill Lynch Global Research, Datastream, IBES

Removal of the 3pp p.a. drag from Resources supports EPS outlook. Second, the

Resources sectors in 2017 will likely provide a (strongly) positive contribution to market
EPS, in turn reversing what has been the biggest headwind for several years. Over the
last 3-5 years the Resources sectors provided a 2.5 percentage point drag on annualized
market EPS growth. In 2016 Banks have been the other big drag on market earnings.
While structural headwinds to profitability mean the contribution of Banks remains open
to debate, consensus forecasts nevertheless imply a strong recovery in 2017 (driven in
part by one-offs reversing). The important point is that the market ex-Banks and

Resources has delivered modest but positive EPS growth — estimated at +5.5% for
2016. Hence, removing the drag from Oil and Mining makes high single digit growth

achievable in our view.

Chart 29: Resources a 2.5pp drag on market EPS growth in recent years

Annualized EPS growth

Chart 30: Capex discipline supportive to margin outlook
Europe Ex-Financials: EBIT margins vs capex/depreciation

4 14% 100%
m3yr mSyr m10yr 5
coe + 120%
10%
140%
8%
1609
6% 60%
4% 180%
1990 1994 1998 2002 2006 2010 2014 2018
EBIT / sales (LS, %)
Stoxx 600 Market Ex-Resources Market Ex-Banks & — — Forecast EBIT / sales (LS, %)
Resources Capex/depreciation - 2yma pushed 2y fwd (RS, %)
Source: BofA Merrill Lynch Global Research, Datastream, IBES Source: BofA Merrill Lynch Global Research, Factset
Margin upside, capex discipline and FX tailwind provide additional support. Third,
profit margins in Europe are not elevated: in the bottom third of the historical range
(since 2004) at the EBITDA level and about average at the net level. With some
acceleration in the top-line as global growth and inflation pick up, there is scope for
margins to improve. In addition, several years of relative capex discipline provide
potential support for margin improvement over the next 1-2 years in corporate Europe.
Over the longer term, we find that operating margins have tended to improve with a lag
of one to two years, following a period of declining capex ratios. That is encouraging for
: Bankof America
12 European Equity Strategy | 01 December 2016 Merrill Lynch

HOUSE_OVERSIGHT_014471
"
IMAGES-005-HOUSE_OVERSIGHT_019353.txt,"Page
Page
Page
Page
Page
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Page
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1;

Page
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Page
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134
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138
140
141
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147
148
149
151
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155
156
157

b3
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b6 , ~3, -4, -5; bic 1, -3, -4, —-5; b’D —- 1;
b6é - , 73, “4, -5; bYc - 1, -3, -4, -5; bYD - 1;
b6 - , tS, “4, -5; byYc - 1, -3, -4, -5; bYD - 1, -2;
b6é - , 73, 4; bic - 1, -3, -4; bYD - 1;
bé6 - 1, -3, -4; bic - 1, -3, -4; b?7D - 1;
bé - 1, -3, -4; bic - 1, -3, -4; b?7D - 1;
b6é - , 73, “4, -5; bYc - 1, -3, -4, -5; bYD - 1;
b6 - 1, -3, -4; byc - 1, -3, -4; bYD - 1, -2;
bé6 - 1, -3, -4; bic - 1, -3, -4; b?7D - 2;
b6 - 2, —3; b?c — 2, —3; brE — 3;
b6 - 3, -5; bic - 3, -5;
b6 - 5; byt - 5;
b6 - 2, -3; bic - 2, -3;
b6 - 3, -5; b?c - 3, -5;
b6 - 3; bic - 3;
b6 - 3; byt - 3;
bic - 2;
b6 - 3; bic - 3;
b7C - 2;
b6 - 3; bic - 3;
bic - 2;
bic - 2;

—-2; b7c - 1, -2; b?D - 2; b?E - 1, -2;

bo - 3, -5; b?c - 3, -5;

bG - 3; byt - 3;

b6G - 3; byt - 3;

bo - 3; bic — 3;

bo - 2, -6; bic - 2, -6;

b6@ - 1, -2, -3; bYC - 1, -2, -3; bYD - 1;

be - 1, -3; b?ve - 1, —-3; bYD —- 1;

be - 1, -3; b?ve - 1, —-3; bYD —- 1;

b6 - 1, -2, -3; bYC - 1, -2, -3; bYD - 1;

b6G - 1, -3; bic - 1, -3; bYD - 1;

bo 1, “2, -3, “4, -53 b7C 1, -2, —-3, -4, —-5; b?D -
be - 1, -3, -5; b’c - 1, -3, —-5S; bYD —- 1;

b6 - 3, -5; bic - 3, -5;

bo - 3, -5; bic - 3, -5;

be - 1, -2, -3; bic - 1, -2, —-3; bYD —- 1;

bo - 1, -2, -3; blc - 1, -2, -3;

b6O - 1, -2, -3; byC - 1, -2, -3;

b6 - 1, -2, -3; bYC - 1, -2, -3; bYD - 1;

b6G - 1, -3, -5; bYC - 1, -3, -5; bYD - 1;

be - 1, -3; b?ve - 1, —-3; brD —- 1;

bo - 3; bic — 3;

bo - 1, -2, -3, -5; bic - 1, -2, -3, -5; bYD - 1;
bo - 1, -3, -4, -5; bic - 1, -3, -4, -5;

bic -— 1;

bo - 3; b’c — 3;

b6G - 3; byt - 3;

HOUSE_OVERSIGHT_019353
"
IMAGES-006-HOUSE_OVERSIGHT_021474.txt,"(Rev. 01-31-2003)

. @ ry z2a| ol -ee
b6

FEDERAL BUREAU OF INVESTIGATION BIC

Precedence: ROUTINE Date: 08/17/2007

mo: New York atten: ssa

From: Miami
PB-2/PBCRA

contact: sa[>

Approved B
Drafted By
Case ID #: 345-MM-108062 (Pending)

Title:

WSTA - CHILD PROSTITUTION
Synopsis: To request travel reference captioned matter.

Administrative: Reference telcall between SA
and sA[ on 08/15/2007.

Details: On 07/24/2006 the Federal Bureau of Investigation
(FBI), Palm Beach County Resident Agency (PBCRA), opened an
investigation involving multi-millionaire Jeffrey Epstein and
captioned subjects. The investigation involves numerous underage
females who attended local high schools and were recruited for
the purpose of engaging in sexual activity with Epstein. At the
conclusion of the sexual activity, the minors were paid sums of
money ranging from $200.00-$1,000.00

FBI Miami, PBCRA, requests travel concurrence with FBI
New York for the purpose of interviewi Lng
target letters on two subjects. SA's and
will travel to New York from 08/20/2007 to
08/24/2007. No assistance from FBI New York is anticipated at
this time. a

B/E =MM-/0g00R ~ 99
~  HOUSE_OVERSIGHT_021474

"
IMAGES-009-HOUSE_OVERSIGHT_028415.txt,"2014 at a groundbreaking ceremony in Summit, N.J., for Celgene, the pharmaceutical
company he led until stepping down to run for United States Senate. To his right are
Representative Leonard Lance of New Jersey and former Gov. Chris Christie. Mel
Evans/Associated

Press""},""identifier"":""100000006098011 Sba8b80411187"", ""imageIdentifier"":""el26e7bde26613f
50f2609cb8776d827"", ""layout"": ""fullbleed-
image"", ""role"":""photo"", ""type"":""scalable image""}, {""identifier"":"" anf-caption-

1"",""inlineTextStyles"": [{""range"":{""length"":27, ""start "":261},""textStyle"":""photo-
credit""}],""layout"":""default-caption"", ""role"": ""caption"", ""text"":""Bob Hugin spoke in 2014
at a groundbreaking ceremony in Summit, N.J., for Celgene, the pharmaceutical company
he led until stepping down to run for United States Senate. To his right are
Representative Leonard Lance of New Jersey and former Gov. Chris Christie. Mel

Evans/Associated Press "",""type™:""text""}],""identifier"":"" anf-container-
5"",""layout""™:""image-
container"", ""role"":""container"", ""type"": ""container""}],""identifier"":"" anf-section-

2"",""layout"":""default-

section"", ""role"":""section"", ""scene"": {""fadeColor"":""#FFFFFF"",""type"":""fading sticky header""}
,""type™:""section""}, {""additions"": [{""URL"":""https://www.businesswire.com/news/home/2018012
9005762/en/Celgene-Announces-Retirement-Executive-Chairman-Bob-

Hugin"", ""range"": {""length"":34, ""start "":194},""type"":""link""}],""identifier"":"" anf-body-
6"", ""inlineTextStyles"":[{""range"": {""length"":363,""start"":0},""textstyle"":"" anf-ts-
I""}, {""range""™: {""length"":363,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default—

body"", ""role"":""body"", ""text"":""When Bob Hugin joined Celgene in 1999 as its chief
financial officer, the company was a struggling biotech that sold just one product ae""
a leprosy drug 4€"" and faced a shaky future. By the time he stepped down as executive
chairman in February to run for United States Senate, Celgene had become a
pharmaceutical powerhouse with a market value of nearly $80
billion."",""type"":""text""}, {""additions"": [{""URL"":""https://ir.celgene.com/press-
releases/press-release-details/2018/Celgene-Reports-Fourth-Quarter-and-Full-Year-2017
Operating-and-Financial-
Results/default.aspx"", ""range"": {""length"":17, ""start "":177},""type™:""Link""}],""identifier™:""
anf-body-7"",""inlineTextStyles"": [{""range""™: {""length"":195,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range™: {""length"":195,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"", ""text"":""And that onetime leprosy drug? It had been transformed into
Revlimid, a best-selling cancer drug that, with annual sales of $8.2 billion, made up
nearly two-thirds of Celgened€™s net sales in
2017."",""type™:""text""}, {""additions""™: [{""URL"":""https://youtu.be/K4Agl kLfs5w"", ""range"": {""len

gth"":34,""start"":174},""type""™:""link""}],""identifier"":"" anf-body-

8"", ""inlineTextstyles"": [{""range""<:{""length"":324,""start"":0},""textstyle"":"" anf-ts-—
I""}, {""range™: {""length"":324,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default—
body"", ""role"": ""body"", ""text"":""Mr. Hugin, a Republican mounting a surprisingly strong

challenge to Senator Robert Menendez in New Jersey, has made his career at Celgene a
cornerstone of his campaign, with television advertisements boasting that he d€cechose a
life of serviced€ in the Marines and a€eleading a health care company that develops

cancer medicine.a€"", ""type"": ""text""}, {""identifier"":"" anf-body-
9"",""inlineTextStyles"":[{""range"": {""length"":299,""start"":0},""textsStyle"":"" anf-ts-
i""},{""range™: {""length"":299,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"": ""body"", ""text"":""In deeply blue New Jersey, few expected a real contest for
Mr. Menendezad€™s seat. Yet anger stemming from Mr. Menendeza€™s federal corruption
trial last year 4€"" a trial that Mr. Hugindé€™s campaign reminds television viewers in
New Jersey about on a regular basis a4€"" has dampened his popularity among

voters."",""type"":""text""}, {""bannerType""™: ""any"", ""identifier"":"" anf-banner advertisement
i"", ""layout"": ""ComponentLayout-—
4"",""role"":""banner advertisement"", ""type"":""banner advertisement""}, {""additions"": [{""URL™:""h

ttps://twitter.com/realDonaldTrump/status/1016368503723577344"", ""range"": {""length"":21,""st
art ™:213}, ""type™:""link""}, {""URL"":""https://news.gallup.com/poll1/12748/business-industry-
sector-

ratings.aspx"", ""range"": {""length"":16, ""start "":238},""type""™:""link""}],""identifier"":"" anf-
body-10"", ""inlineTextStyles"": [{""range""™: {""length"":413,""start"":0},""textStyle"":"" anf-ts-
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body"", ""role"": ""body"", ""text"": ""But Mr. Hugind€™s professional career could also prove to

be a liability da4€"" he is the sole pharmaceutical executive running for statewide office
in 2018. Anger over high drug prices has risen and President Trump has vilified the
industry. A 2017 Gallup poll found that just 33 percent of the country had a favorable

view of the drug industry, the second-lowest of any sector. (The lowest was the federal
government.)"",""type"":""text""}, {""identifier"":"" anf-body-
11i"",""inlineTextStyles"": [{""range"":{""length"":394,""start"":0},""textStyle"":"" anf-ts-

HOUSE_OVERSIGHT_028415
"
IMAGES-009-HOUSE_OVERSIGHT_027726.txt,"Is Invitation: No

Gl
oO

GUID: 67ACOAE2-94EC-4E71-9277-6E228BB3AC

Message: May gone

Sender: e:jeeitunes@gmail.com

Time: 05/26/19 03:47:01 PM (580603621)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: DAA2CC49-A7DF-48C2-AED6-2FDS5E3BDC6C7

Message: I like the Iragi coming and saying they are against sanctions on Iran. He
will go nuts

Sender: e:jeeitunes@gmail.com

Time: 05/26/19 03:47:19 PM (580603639)
Flags: 1085445
Is Read: No

Is Invitation: No

r,

GUID: B1E69059-D7EE-49C2-A52F-81A09C17A405

Message: He will viiew it as employees against mgmt

Sender: e:jeeitunes@gmail.com

Time: 05/26/19 11:34:24 PM (580631664)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: F30624A8-4D62-410A-A1F5-7A896C1C7D96

Message: What is the mood.?

Sender: e:jeeitunes@gmail.com

Time: 05/26/19 11:35:17 PM (580631717)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: B106D852-D3E2-46C5-9820-7437BFA31DCC

Message: My French guys are saying it was so close , no effect

Sender: e:jeeitunes@gmail.com

Time: 05/26/19 11:35:18 PM (580631718)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 68H6F94B-B72C-45A6-B63F-5F2626B8000F

HOUSE_OVERSIGHT_027726
"
IMAGES-008-HOUSE_OVERSIGHT_024666.txt,"Cannabis Investment Report |

December 2017

Representative Dosage Amounts

Desired Effect or Ailment Dosage
“High” 10 mg THC
Anxiety, depression, spasms 25 mg CBD
Cancer 25 mg CBD
Chronic pain 2.5-20 mg THC
Epileptic seizures 200-300 mg CBD
Glaucoma 20-40 mg CBD
Increased appetite 2.5 mg THC

Multiple sclerosis 2.5-120 mg THC
40-1,280 mg CBD

40-160 mg CBD

Schizophrenia
Sleep disorders

Neither the potential medicinal benefits and therapeutic

Dosage Ratio
(THC:CBD)

10:1 to 100:1
1:10
1:1
10:1
1:5
1:2 to 1:4
5:1
1:1
1:4 to 1:128
1:4 to 1:16

applications of cannabis consumption nor

the negative side effects of cannabis use have been thoroughly researched by medical science. Short-

term negative side effects are believed by some to include sensory distortion, panic, anxiety, poor coor-

dination of movement, reduced reaction time, lethargy or drowsiness, depression and elevated heart

rate. Longer-term effects may include suppression of the immune system, growth disorders, destruc-

tion of lung fibers, brain lesions, reduced sexual capacity, difficulties with concentration, reduced abil-

ity to learn and retain information, and personality and moo
about whether cannabis consumption may lead to the abuse
“gateway drug” debate).

30

d changes. There is also an ongoing debate
of more harmful substances (the so-called

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024666
"
IMAGES-007-HOUSE_OVERSIGHT_022534.txt,"The FCPA:

Anti-Bribery Provisions

years after the acquisition. After another employee of Company A reports the long-running bribe scheme to a director at
Foreign Government Agency, Company A stops the payments and DOJ and SEC investigate.

Based on these facts, would DOJ or SEC charge Company A?

Yes. DOJ and SEC have prosecuted companies like Company A in similar circumstances. Any charges would not,
however, be premised upon successor liability, but rather on Company A's post-acquisition bribe payments, which
themselves created criminal and civil liability for Company A.

Scenario 3:

Under local law, Company A's ability to conduct pre-acquisition due diligence on Foreign Company is limited. In the
due diligence it does conduct, Company A determines that Foreign Company is doing business in high-risk countries
and in high-risk industries but finds no red flags specific to Foreign Company's operations. Post-acquisition, Company
A conducts extensive due diligence and determines that Foreign Company had paid bribes to officials with Foreign
Government Agency. Company A takes prompt action to remediate the problem, including following the measures set
forth in Opinion Procedure Release No. 08-02. Among other actions, it voluntarily discloses the misconduct to DOJ and
SEC, ensures all bribes are immediately stopped, takes remedial action against all parties involved in the corruption, and
quickly incorporates Foreign Company into a robust compliance program and Company A's other internal controls.

Based on these facts, would DOJ or SEC prosecute Company A?

DOJ and SEC have declined to prosecute companies like Company A in similar circumstances. Companies can follow
the measures set forth in Opinion Procedure Release No. 08-02, or seek their own opinions, where adequate pre-acquisition
due diligence is not possible.

Hypothetical: Successor Liability Where Acquired Company Was Already Subject to
the FCPA

Both Company A and Company B are Delaware corporations with their principal offices in the United States. Both
companies’ shares are listed on a national U.S. exchange.

Scenario 1:

Company Ais considering acquiring several of Company B’s business lines. Prior to the acquisition, Company A engages
in extensive due diligence, including: (1) having its legal, accounting, and compliance departments review Company B’s
sales and financial data, its customer contracts, and its third-party and distributor agreements; (2) performing a risk-based
analysis of Company B’s customer base; (3) performing an audit of selected transactions engaged in by Company B; and
(4) engaging in discussions with Company B’s general counsel, vice president of sales, and head of internal audit regarding
all corruption risks, compliance efforts, and any other major corruption-related issues that have surfaced at Company B
over the past ten years. This due diligence aims to determine whether Company B has appropriate anti-corruption and
compliance policies in place, whether Company B’s employees have been adequately trained regarding those policies,
how Company B ensures that those policies are followed, and what remedial actions are taken if the policies are violated.

During the course of its due diligence, Company A learns that Company B has made several potentially improper
payments in connection with a government contract with Foreign Country. As a condition of the acquisition, Company A
requires Company B to disclose the misconduct to the government. Company A makes certain that the illegal payments

(cont’d)

HOUSE_OVERSIGHT_022534
"
IMAGES-011-HOUSE_OVERSIGHT_030938.txt,"Cirant_Siith070964°eMailContent.htm

Las Olas City Centre, Bank America Building
401 East Las Olas Boulevard
Suite 1650

Fort Lauderdale, FL 33301

file:///C\/Documents%20and%20Settings/T! rial/Desktop/B...uction/eDocs/eMail/Grant_Smith070964“eMailContent htm (5 of 5) [11/6/2010 10:16:49 PM]

14514

HOUSE_OVERSIGHT_030938

"
IMAGES-008-HOUSE_OVERSIGHT_025578.txt,"Morgan Stanley | sesearcs NORTH AMERICA INSIGHT ~~

Appendix B: Valuation of Alternative
Managers - What@in the Price?

Exhibit 48: Exhibit 49:

Covered Alternative Asset managers NTM Relative P/E Covered Alternative Asset managers NTM Absolute P/E
Alts NTM P/E Ratios Relative to Trad. AMs and S&P Alts P/E Ratios
500

20.0% Alts NTM P/E Relative to Trad. ——-Alts NTM P/E Relative to S&P 500
sede Alts Avg. FY1 P/E ———-Alts Avg. FY2 P/E ——Alts Avg. NTM P/E
10.0% 25x
9
0.0% | 1 r r 1 1 Cr r 1 1 1 r r 1 1 20x
-10.0% Relative to
-20.0% Trad. ,- 27% 15x FY4 PIE,
730.0% Relative to 10x NTM PIE,
-40.0% ag S&P,- 45% 10.1x
9 Ver A 5x FY2 PIE,
-50.0% ks 10.1x
“60.0% Ox ; 1 T T 1 T r r r ; 1 1 1 Cr 1
e-re3reseeseeers Fe ee ess erraanenmses + © HW © © ER
> > > > > > y~ > > > > > y» > Y oY FY Y YT FY YF FY FT FY FY FY FY ¥
> > > >a F DP F FP F DB SP DB SF BD BD
2822828282838 2838282 ess SG SSE RSSE RSE B
Source: Company Data, Thomson Reuters, Morgan Stanley Research estimates

Source: Company Data, Thomson Reuters, Morgan Stanley Research estimates

HOUSE_OVERSIGHT_025578
"
IMAGES-004-HOUSE_OVERSIGHT_018404.txt,"Gatekeeping, as we've seen, isn’t simply the act of marking geographic lines. Those
hurrying walls and berms and triple-fences of the real world are a kind of
gatekeeping but they are also, I’m pretty sure, expressions of a deeper desire. Each
is areal-world defense against topological pressures of population and ideology and
violence, all shaped by network magnetism. The likely futility of such gates is clear
enough when you contemplate the forces they are intended to keep out: Refugees
see prosperity miles on their phones. Little wonder they rush at it. Internet-
transmitted messages light up ideologies, protests or fundamentalisms that pull
people back and forth endlessly across physical borders. The world responds, as
anyone without a Seventh Sense might, with walls. But to focus merely on the
physical? This is to misread the issue. Gatekeeping includes real-world borders, of
course, but the statesmen of the future will act particularly on topologies. They will
work not merely to stop up flows, but to decide their movement. Gates will, for
instance, serve as bespoke disease buffers, created to track and then freeze the
wotrisome pandemics now crawling at us on the connections of our age. Other gates
will be economic tools: The will help isolate and then soothe the unstable and
apparently broken, middle-class eroding financial patterns of the past decades.

Recall how the design of computer or network systems affects the real world, like a
marble slipped under a carpet? Gatekeeping’s topological design is like placing
marbles (or boulders) in particular ways, to direct movements and flows as you
might guide water with a canal. The great historian Arnold Toynbee once recalled a
passing moment with British Prime Minister Lloyd George during the endless (and
disastrous) Paris Peace Conference of 1919. “Lloyd George, to my delight, had
forgotten my presence,” Toynbee wrote, “and began to think aloud.
‘Mesopotamia...yes...oil...irrigation...we must have Mesopotamia; Palestine...yes...
the Holy Land... Zionism... we must have Palestine...; Syria... h’m... what is there in
Syria? Let the French have that.”246 This sort of charmless arrogance -— The Holy
Land....We must have that - doesn’t much suit our age, but that comprehensive view?
What oil and irrigation and Suez were to Lloyd George, emergence and data flows
and gates are to us. There’s a crucial difference, however: We need not take the most
precious territory of our age through invasion or colonial exploitation or in mis-
balanced peace settlements. We can build the essential landscape of power. We can
build it for defense. And then we can grow it, perfect it, and attract others. Schmitt
was right, human history is the story of enclosures - and nothing about our
emerging age suggests any other approach can, with a single clear line, solve the
vexing network x network x weapons problems we face. Hard Gatekeeping means
molding the landscape, gate by gate, to encourage certain movements and make
others difficult, costly, maybe even impossible. Any future order must begin with
this first principle: The line between in and out is as essential as what goes on
inside.

246 Lloyd George: Margaret MacMillan, Paris 1919: Six Months that Changed the
World, (New York: Random House, 2002) p. 381

172

HOUSE_OVERSIGHT_018404
"
IMAGES-004-HOUSE_OVERSIGHT_017737.txt,"Page 23 of 52
2005 B.Y.U.L. Rev. 835, *873

number even without any showing of need. Nothing in the rule, however, would bar the defendant from requesting that
information by filing an appropriate motion. The court could then determine whether any such motion had merit. !7°

[*874]
Rule 15 - Victims’ Right To Attend Pre-Trial Depositions
The Proposal:

Rule 15 should allow victims to attend any public deposition in a case as follows:

(i) Victims Can Attend. A Victim can attend any public deposition taken under this rule under the same conditions as govern a
victim's attendance at trial.

The Rationale:

Victims have the right ""not to be excluded from any ... public court proceeding,"" except in rare cases where their testimony

178 and

will be materially affected. '’7 Depositions authorized by Rule 15 are for the purpose of preserving evidence for trial,
thus are effectively an extension of the trial. Victims accordingly have the right to attend such proceedings, if public, under the
same conditions governing their attendance at trial. To avoid any confusion over this issue, the proposed rule change directly

states that conclusion.

Because victims can be excluded from the trial in certain rare situations where their testimony would be materially affected,
'79 they can likewise be excluded from a deposition in those situations. The proposed rule simply applies the limitations on
attending trial to the deposition setting by providing that the ""same conditions"" apply to the victim's attendance at the

deposition.

[*875]

Rule 17 - Victims’ Right to Notice of Subpoena of Confidential Information
The Proposal:

Rule 17 regarding subpoenas should be modified to give victims notice before personal or confidential mformation is
subpoenaed and to allow victims to file a motion to quash such a subpoena as follows:

(h)(2) Victim Information. After indictment, no record or document containing personal or confidential information about a
victim may be subpoenaed without a finding by the court that the information is relevant to trial and that compliance appears to
be reasonable. If the court makes such a finding, notice shall then be given to the victim, through the attorney for the
government or for the victim, before the subpoena is served. On motion made promptly by the victim, the court may quash or
modify the subpoena if compliance would be unreasonable or oppressive.

The Rationale:

The existing rules governing subpoenas are flawed because they allow the parties to subpoena personal or confidential
information about a victim from third parties without the victim's knowledge. This issue arose recently in the Utah state

76 Cf. United States v. Wills, 88 F.3d 704, 709-10 (9th Cir. 1996) (allowing delayed disclosure of alibi witness because witness feared for
safety and defendant had violent history and allowing ex parte hearing because of need to keep identity of witness from the defendant).

7 18US.CA. 3771(a)(3).

78 See, e.g., United States v. Edwards, 69 F.3d 419, 437 (10th Cir. 1995).

79 18 U.S.C.A. 3771 (a)(3), discussed infra notes 276-308 and accompanying text.

DAVID SCHOEN

HOUSE_OVERSIGHT_017737
"
IMAGES-007-HOUSE_OVERSIGHT_024145.txt,"Key financial market driver 3 - China growth outlook

Key questions

e When will the economy bottom out?

e What economic policy responses can we expect to support the economy ahead?

e How significant is the contagion risk from a possible downturn in the Eurozone?

ClO View (Probability: 70%*) Modest policy easing to support growth in 2H12
e The latest economic data suggest that economic activity is showing signs of stabilization, albeit at a
comparatively low level. However, we have yet to see meaningful pick-up in activity. We think that policy
measures to support the economy should have more visible effect on activity in the second half of the
year.

¢ To this effect, the People's Bank of China (PBoC) has recently cut interest rates by 25bps — the first such
move since late 2008. With investment demand still sluggish, we don't expect the measure to have a
significant near-term effect on growth. Still, the cut confirms the leadership's commitment to support the
economy. Importantly, with the rate cut, measures were announced to increase the banks’ ability to set
interest rates, which should bolster private household spending power in the future.

e The rate reduction took place against a backdrop of falling price inflation. Thus, inflation is no obstacle
for further measures to ease monetary policy. However, at this point we don't expect further rate cuts this
year; especially since increased interest rate flexibility should contribute to an easing of monetary
conditions ahead. If anything, we think the PBoC may implement more reductions in banks' reserve
requirement rates to ensure sufficient liquidity provisions. Thus, we think the real focus has to be on the
fiscal policy measures now, including possibly an acceleration of infrastructure investments, measures to
support consumer spending and selective relaxation in the property market (while keeping home-purchase
restrictions intact).

A Positive scenario (Probability: 20%*) Higher-than-expected growth

¢ Chinese GDP grows above 8.5% in 2012. For this we would probably need to see stronger-than-expected
fiscal and monetary policy support from the government. A speedy improvement in the Eurozone debt
crisis could also lead to this positive scenario.

& Negative scenario (Probability: 10%*) Hard landing
¢ Chinese GDP growth below 6%, i.e. a hard landing of the economy. This could be triggered by a global
financial crisis/recession, causing a slump in Chinese exports. Other risks include a sharp decline in Chinese
residential property prices — which would slow investment growth, a large-scale default of local
government debt, or a surge in inflation that forces the PBoC to significantly tighten monetary policy.

Key dates
1 Jul Manufacturing purchasing managers index (Jun)
13 Jul Fixed asset investment, industrial production lun), 2Q12 GDP

11-15 Jul New bank lending, M2 Gun)
22-25 Jul HSBC flash manufacturing purchasing managers index (Jul)

a UBS For further information please contact CIO analyst Gary Tsang, gary.tsang@ubs.com, Glenda Yu, glenda.yu@ubs.com, Patrick Ho, patrick-ww.ho@ubs.com

First interest rate cut since 2008

8

un-03
un-04
un-05
un-06
un-O7
un-08
un-09
un-10

un-11
un-12

=== |-year lending rate ——= 1-year deposit rate

Source: Bloomberg, UBS CIO, as of 18 Jun 2012

Pick-up in infrastructure investment

armima

oe,
Ho,
1
3

A ie
li

Year-on-ye ar

i HM

¥

Source: Bloomberg, UBS CIO, as of 18 Jun 2012
Note: Past performance is not an indication of future returns.

* Scenario probabilities are based on qualitative assessment.

10

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_024145
"
IMAGES-003-HOUSE_OVERSIGHT_015326.txt,"In his new book, Bob Woodward writes about Colin Powell’ s status
as an adviser to you. Referring to his previous book, Plan of Attack, the
New York Times then reported that “Secretary of State Colin Powell
disputed Woodward’ s account....He said that he had an excellent
relationship with Vice President Dick Cheney, and that he did not recall
referring to officials at the Pentagon loyal to Cheney as the ‘Gestapo
office.’ "" Who among us would be unable to recall uttering such an
epithet? Powell later apologized for it. He has also changed his mind about
gays in the military. In my capacity as a stand-up satirist, | used to conduct
an imaginary dialogue with Powell.

“General Powell, you’ re the first African-American to be head of
the Joint Chiefs of Staff, and you come from the tradition of a military
family. So you know that blacks were once segregated in the Army
because the other soldiers might feel uncomfortable if blacks slept in the
same barracks. And now that’ s what they say about gays, that other
soldiers might feel uncomfortable about gays sleeping in the same
barracks.”

“Well, you have to understand, we never fto/d anybody we were

black.”

HOUSE_OVERSIGHT_015326
"
IMAGES-012-HOUSE_OVERSIGHT_033051.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033051
"
IMAGES-003-HOUSE_OVERSIGHT_015440.txt,"The Six Dumbest Decisions of My Life

I' m talking here about seriously dumb decisions, not those minor
regrets like that time in 1970 when £squire magazine assigned me to fly to
New Mexico where director Monte Hellman was filming 7wo-Lane
Blacktop, about street-racing. Among the actors was a pair of musicians,
James Taylor as a driver, and Dennis Wilson as a mechanic. They both
agreed to be interviewed, besides screenwriter Rudy Wurlitzer and others.

During a conversation with Taylor about not laughing at jokes, he
said, “My brother once told me a joke that made me laugh.”

“Wait, don’ t tell me now,” | said. “Let’ s save it for the
interview.”

However, | was supposed to reveal behind the scenes of making the
movie, but | learned that there were a couple of violations of law: A few
members of the cast had been tripping on magic mushrooms; and a 17-
year-old actress, Laurie Bird, who played “The Girl,” had sex with two
members of the crew. Nine years later she would commit suicide.

Anyway, | decided not to write the article--| was a reporter, not a
snitch--and never did get a chance to do any interviews. Nor did | ever

hear the joke that James Taylor’ s brother told him and made him laugh. |

HOUSE_OVERSIGHT_015440
"
IMAGES-004-HOUSE_OVERSIGHT_018362.txt,"processing. They had lived this. Enabled it. Profited from it. If there was ever a
group you might hope to take aside, pull into a quiet room and ask gently What are
the really networks for, anyway? this would be it.

The act of keeping time, of marking it, is embedded in the nature of any age. Our
lives are, after all, dictated by timetables: School schedules, the seasons, rush hour,
the burning candle of birth-love-marriage-death. Time, in the days before industry,
was measured by nature’s schedule. How long it took a crop to mature. The
solstices. A beehive filling with honey. It was marked by moving tides and shifting
seasons, and it demanded a slowness, a personal presence on the shores, in the
oceans, atop the fields over generations. “Summer afternoon,” the novelist Henry
James remarked in a précis of a slower age he felt passing away in 1895. “To me
those have always been the two most beautiful words in the English language.” 18°

Then, in the industrial revolution, time became money. Electric lights, for instance,
undid the restful distinction between night and day - and made 24-hour life and
manufacturing and economics possible and then, of course, inevitable. Movement
from countryside to city established a really new sense of what the German critic
Georg Simmel, writing in 1903, called tempo. “With each crossing of the street, with
the tempo and multiplicity of economic, occupational and social life, the city sets up
a deep contrast with small town and rural life,” he explained. “The technique of
metropolitan life is unimaginable without the most punctual integration of all
activities and mutual relations into a stable and impersonal time schedule.”18! Punch
cards. Bus schedules. The forty hour work week. Our education, our manufacturing,
our markets and our lives all began to run on timetables. They had to, or the whole
project of industry would collapse. “Summer Afternoon” became a time to work.
Simmel worried, for instance, over the diffusion of pocket watches. To carry one was
like looking at a constantly draining bank account.

This sense of humans reduced to cogs - churned, run, disposed of on a schedule not
their own - unnerved the residents of that first mechanical age. Cities had been the
very first sorts of tight-packed networks; industrial cities ratcheted this further still.
They succeeded and failed by the degree to which they geared themselves and their
citizens to machine speed. When the Austrian novelist Robert Musil began The Man
Without Qualities, his classic story of the era, with the flattening of a Viennese citizen
by a speeding delivery truck, he meant to point out how urban speed and urban life
(and urban death) had become inseparable. And also the mismatch between the
weak breaks of the age and it’s acceleration. The book is alive with that pre-accident
slipping sensation you may have had: You are pressing hard on the brakes of the car;
you are going to hit something anyhow. “Cities can be recognized by their pace just
as people can by their walk,” Musil wrote in a line that any modern New Yorker or

180 “Summer afternoon”: Edith Wharton, A Backwards Glance, (New York: D.
Appleton-Century, 1934) See chapter 10 for her tale of an afternoon with James.
181 “With each crossing”: Georg Simmel, “The Metropolis and Mental Life” (1903)
in Gary Bridge and Sophie Watson, eds. The Blackwell City Reader. Oxford and
Malden, MA: Wiley-Blackwell, 2002, p. 11

130

HOUSE_OVERSIGHT_018362
"
IMAGES-004-HOUSE_OVERSIGHT_017051.txt,"Figure $12

senennaeeaenenenenenmenmnainmmenmassa mannan!
@ Abraham Lincoln
@ Edgar Allan Poe 4
@ Charles Darwin /
1809 top 50 7 x
x John Brown
x William Johnson fi x
x James Smith
Rejected

10° 10° 10° 107 10° 10°
Average Fame at Birth
10° SS
@ Robert Kennedy 4
@ Margaret Thatcher /
@ Paul Newman / x
1925 top 50 7
10° xX Santa Cruz
x Joseph Smith / x
x George Moore e / x
Rejected e /
7 / .
10 x
e ry x
f / x
7
8
10 I
|
I
a
10"" 10""'° 10° 10° 107 10° 10°

Average Fame at Birth

Frequency

Frequency

Frequency

Frequency

iv

0.6

— John Brown
— William Johnson
—— James Smith

2000

rT
— Abraham Lincoin
— Edgar Allan Poe
—— Charles Darwin

1900 1950 2000

Years

1850

Robert Kennedy
Margaret Thatcher
Paul Newman

1900 1925 1950 2000

Years

1850

Santa Cruz
Joseph Smith
George Moore

Fig. $12. Filtering out names with trajectories that cannot be resolved. Illustrates the requirement for
query name filtration on the basis of premature fame. Fame a birth is the average fame in a 10 year

window around birth, lifetime fame is the average fame from year of birth to 2000. The dashed line in
(A), (D) indicates the separatrix used to excluded query names with premature fame signals. Points to
the right were rejected from further analysis. In (B), (C), (E), (F) the black line indicates the year of birth

of the individuals whose fame trajectories are plotted.

HOUSE_OVERSIGHT_017051
"
IMAGES-003-HOUSE_OVERSIGHT_014986.txt,"European volatility: Sector snapshot

Table 5: Volatility measures and indicative option prices for major European sector indices (data as of 16-Jun-17)

Bearish — <<<< ---------------------eecnnnenccnnencecnennncnnnnes >>>> Bullish
3Mth ATMf implied 3Mth 90%-110% risk Equity
volatility Real vol* 3Mth 95%-85% put spread 3Mth 100%-110% call spread** reversal** index _
Current Current Current
price Weekly Max price Weekly Max price™* Weekly

Weekly 2Yr (%of change 2Yr payout (%of change 2Yr payout (%of change 2Yr Weekly

Current change %-ile Current spot) (bps) %-ile ratio spot) (bps) %-ile ratio spot) (bps) %-ile — return

SX3P (Fd&Bv) 0.7% -04% 2% 0.1% 0.6% = 2% 16.4 2.1% -8 7% 48 -0.2% 5 80% 13%
SX6P (Utils) 22% 0.0% 4% 0.9% 0.8% 2 4% 128 24% 5% 42 -0.3% 0 95%  -0.1%
SX7E (Banks) 22.7% 0.3% 2% 8.6% 9% 2 3% 54 3.6% 2 9% 28 -0.5% 0 52% — -3.0%
$X7P (Banks) 85%  -12% 2% 3.1% 5% -10 3% 68 3.2% =15 5% 3.2 -0.4% 10 86% —-1.9%
SXAP {Auto} 67%  -12% 1% 1.7% 3% -12 1% 78 3.0% -13 % 33 -0.4% 6 68%  -0./%
SXDP (Health) 3.0%  -08% 1% 8.7% 0.9% 9 2% 115 2.5% -12 3% 40 -0.3% 4 71% 0.0%
SXEP (Oil&Gas) 5.4% 0.0% 3% 1.8% 2% 0 3% 85 2.8% 2 2% 3.6 -0.2% -2 97% — -1.3%
SXIP (Insur} 4.0%  -09% 1% 9.4% 0% -10 1% 10.0 2.7% -11 % 37 -0.4% 6 83% 1.0%
SXKP (Telecom) 54% 03% 3% 1.1% 1% 3 3% 88 2.8% 5 5% 3.6 -0.3% 3 83% —-1.3%
SXNP (Indust) 63% 01% 13% 0.9% 2% 23% 8.1 2.8% 10% 36 0.0% 0 100% — -0.3%
SXPP (Basic) 23.8%  -0.7% 3% 7.8% 2.0% -/ 3% 5.1 3.5% 0 4% 29 -0.3% -/ 53% — -4.8%
SXQP (Prsnl&HH Gds) 0.2% 0.0% 1% 7.2% 0.5% -] 2% 185 2.0% -] % 49 -0.3% 1 76% 0.3%
SXRP (Retail) 3.2% 0.4% 10% 2.8% 0.9% 8 10% = 113 2.5% 14 10% 40 -0.1% -10 = 78% = -3.3%
SXTP (Trvl&Lsre) 44% 0.0% 7% 1.6% 0% 7% 9.9 2./% 0 8% 37 -0.3% 1 41% 05%

Source: BofA Merrill Lynch Global Research *Real vol = EWMA (Exponentially Weighted Moving Average) volatility, which measures historical price volatility but assigns greater importance to recent returns. Sigma(t)*2 =

0.94*Sigma(t- 1)*2+(1-0.94)*r(t}*2, where r(t) is the return on day t. “Indicative mid prices; strikes as % of forward ***Negative values indicate that the bullish risk reversal takes in a credit.

Bankof America <> ariective
Merrill Lynch Global Equity Volatility Insights | 20 June 2017 15

HOUSE_OVERSIGHT_014986
"
IMAGES-006-HOUSE_OVERSIGHT_021312.txt,"symbolic
connection «-

_ understandir
= Sentences content

movements using
$ information “fy linguistic

= mined Omessage Oa
oni OS However

Chapter 7’

Action at a Distance: The Invisible
Force of Language

7 The lead author is Howard Nusbaum, Ph.D.,
Professor of Psychology and Computational
Neuroscience, and co-director of the Center for
Cognitive and Social Neuroscience at the
University of Chicago. He has served as the
Chair of the Psychology Department since 1997.
He has served as the editor for the International
Journal of Speech Technology and 1s on the
editorial board of Brain & Language, and has
edited several books on spoken language
processing. His research interests include
spoken language use, mechanisms of learning
and attention, and the role of sleep in learning.
His recent research has investigated the social
use of language and the evolution of language.
In addition, he has been working on neural
mechanisms of reward and economic decisions.

We often think about language in terms
of the information in newspapers or speeches or
reports. However, language 1s basis of all our
social relationships and institutions. We reward
and praise with language and we shun and
punish with language, perhaps more often than
with any other medium. In the recent election,
Democratic candidates actually gave speeches
outlining different views of the importance of
language in our society. One candidate held that
words are simply words and only have the force
that we give to them by reasoning about them.
The other candidate argued that speech has the
power to move people to connect and act.
Nusbaum was struck by this debate because it
seems to him that the power of language goes
well beyond what linguists and psychologists
talk about as “meaning” and that understanding
the meaning of language may depend on
understanding the social and emotional impact of
language. In this chapter, the idea of the impact
of language at a distance is explored.

Page | 66

Language is one of the most
important ways in which the social brain
makes connections, enhances
connections, and severs connections
among people. Language is our primary
medium of social exchange, grounding
and elaborating our selves and our
relationships in every conversation.
However, language goes well beyond
personal connections to connect us
culturally through stories, songs, and
shared manners of speech. Language
also provides the formal framework that
defines many of our social institutions.
Language gives form and substance to
the governance and behavior of every
social institution from education to law
to religion. Clearly there are many ways
in which language serves to knit us
together both formally and informally.
For a linguist, all of these uses can be
analyzed in terms of the structure of
sentences and their content. However,
structure and content do not, on their
own merits, provide a complete picture
of how language can have the impact it
does on our sense of social connection.
How does language move us to act,
change our feelings, and connect us to
others? It seems unlikely that the impact
of language is simply the result of
dispassionate rational inferences and
conclusions drawn from a logical
analysis of sentences.

In 1976, Barbara Jordan, a
Congresswoman from Texas, gave the
commencement address at Brandeis
University. Listening to her speak about
the importance of public service and the
importance of using talent and ability in
service of one’s country was an
impressive experience. Her delivery was
clear and not particularly dramatic and
yet the force of her speech was riveting.
It was sufficient to turn a graduating
senior’s mind from graduate school in

HOUSE_OVERSIGHT_021312
"
IMAGES-009-HOUSE_OVERSIGHT_028373.txt,"e8b-5dba-4458-8edd-
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cb8488ac80b5"",""imageldentifier"":""d5d2a7dda367400d06f4b76e9 1 b6cf32"",""type"":""image""},""e0954e7e-
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a1e4282236e4"",""imageldentifier"":""a4d0634789a8d 1 e6d8aafb8aef024403"",""type"":""image""},""e0f9ad44-
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d44-1b5d-4f0e-a731-
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babe3bee08a9"",""imageldentifier"":""1d7ab65b07 7efcff4a0362d90f75ad47"",""type"":""image""},""e9ad5df6-3de0-
4d58-b7d3-d470e9ed6107"":{""URL"":""asset://eQ9ad5df6-3de0-4d58-b7d3-
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Qad5df6-3de0-4d58-b7d3-

d470e9ed6107"",""imageldentifier"":""eb88ad9fc27 1 ffe1479f58c832614acd"",""type"":""image""},""ed348147-060e-
45d7-b5c9-a36a13578f55"":{""URL"":""asset://ed348147-060e-45d7-b5c9-
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48147-060e-45d7-b5c9-

a36a13578f55"",""imageldentifier"":""ec854ebcd8edaf16339655c2b81 fe33d"",""type"":""image""},""ef47c425-992c-
4cd3-84ad-1cc8cef7b9ba"":{""URL"":""asset://ef47c425-992c-4cd3-84ad-
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f47c425-992c-4cd3-84ad-

1cc8cef7b9ba"",""imageldentifier"":""ec854ebcd8edaf16339655c2b8 1 fe33d"",""type"":""image""},""f6b64 109-e998-
4f6d-8fec-a0fa9972946b"":{""URL"":""asset://f6bD64 1 09-e998-4f6d-8fec-
a0fa9972946b"",""classification"":""image"",""dimensions"":{""height"":1535,""width"":2048},""fileSize"":0,""identifier"":""
f6b64109-e998-4f6d-8fec-

a0fa9972946b"",""imageldentifier"":""efdc5 7 0fa6f521862944a36c965ecbcc"",""type"":""image""},""ffe2aedc-38c1-
4606-9335-ac723ef4cff0"":{""URL"":""asset://ffe2aedc-38c1 -4606-9335-
ac723ef4cff0"",""classification"":""image"",""dimensions"":{""height"": 1668, ""width"":2500},""fileSize"":0,""identifier"":""ff
e2aedc-38c1-4606-9335-

ac723ef4cff0"",""imageldentifier"":""d5d2a7dda367400d06f4b76e91 b6cf32"",""type"":""image""}},""specVersion"":""
1.6"",""subtitle"":"""",""textStyles"":{""_anf-ts-1"":{""fontName"":""DrukTextWide-Bold"",""fontSize"":1 ,""identifier"":""_anf-
ts-1""},""_anf-ts-10"":{""fontName"":""Druk-Medium"",""identifier"":""_anf-ts-10""},""_anf-ts-
11"":{""fontName"":""ProximaNova-Semibold"",""identifier"":""_anf-ts-11""},""_anf-ts-12"":{""fontName"":""spotlight-
triangle"",""identifier"":""_anf-ts-12""},""_anf-ts-14"":{""fontName"":""DrukTextWide-Bold"",""identifier"":""_anf-ts-
14""5,""article-headline-inline-style"":{""fontName"":""ProximaNova-Bold"",""fontSize"":18,""identifier"":""article-
headline-inline-style"",""textColor"":""#000""},""attribution-black"":{""fontName"":""ProximaNova-
Bold"",""identifier’:""attribution-black"",""textColor"":""#000""},""attribution-blue"":{""fontName"":""ProximaNova-

Bold"" ,""fontSize"":14,""identifier"":""attripution-blue"",""textColor"":""#1 D8FF9""},""attribution-
gray"":{""fontName"":""ProximaNova-Bold"",""identifier"":""attribution-gray"",""textColor"":""#707070""},""bullet-list-
headline-style"":{""fontName"":""ProximaNova-Bold"",""identifier"":""bullet-list-nheadline-style""},""cta-attribution-

HOUSE_OVERSIGHT_028373
"
IMAGES-011-HOUSE_OVERSIGHT_031398.txt,"message seeking comment for this report.

Martin G. Weinberg, an attorney for Epstein, said in a statement that
Epstein’s plea was “fairly negotiated by experienced teams of
attorneys representing each party.”

“It was anything but a sweetheart deal,” Weinberg said. “And it was
carefully and fully reviewed not only by senior prosecutors within the
Southern District of Florida Office but also at multiple levels of the
Department of Justice in D.C.”

The government, he said, “avoided litigation risks including the risks of
an acquittal and Mr. Epstein went to jail, served a period of probation,
lived up to each and every obligation under the Agreement, and has
fully conformed his conduct to the law for well over 10 years.”

https://www.washingtonpost.com/world/national-security/a-justic...1718903bfc_story.html?noredirect=on&utm_term=.c9ebae38dfe7 2/6/19, 7:29 PM
Page 3 of 3

HOUSE_OVERSIGHT_031398
"
IMAGES-009-HOUSE_OVERSIGHT_027040.txt,"constitute inside information, and is intended only for

the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_027040
"
IMAGES-002-HOUSE_OVERSIGHT_013478.txt,"Case 9:08-cv-80893-KAM Document 168 Entered on FLSD Docket 06/28/2010 Page 3 of 4

Doe v. Epstein
CASE NO.: 08-CIV-80893-MARRA/JOHNSON
Page 3

believes that a settlement conference or mediation is in the best interest of both parties to
attempt resolution. There is no prejudice to either party.

7. Therefore, Defendant requests the Court issue an order directing the parties to
attend a Setilement Conference before Magistrate Judge Johnson or that the Court direct
the parties to attend a further mediation before July 1, 2010. Both Magistrate Judge
Johnson and Rodney Romano (as the mediator in this case) are very familiar with the
particular case and other claims that were asserted.

8. Defendant’s Counsel has spoken with the secretary for the mediator, Rodney
Romano, and she believes that he would be able to schedule a 2-3 hour mediation on
short notice this week.

WHEREFORE, Defendant, JEFFREY EPSTEIN respectfully requests the Court
to enter an Order directing the parties to attend a Settlement Conference before
Magistrate Judge Linnea R. Johnson, or in the alternative, a mediation on or before July
1, 2010.

Rule 7.1 Certification

I hereby certify that counsel has communicated by telephone with Plaintiff's
counsel in a good faith effort to resolve the issues set forth herein. Plaintiff's position is
that the parties have already complied with the mediation requirements.

By: s/Robert D. Critton, Jr.
Robert D, Critton, Jr.

Michael J. Pike
Attorneys for Defendant Epstein

HOUSE_OVERSIGHT_013478
"
IMAGES-005-HOUSE_OVERSIGHT_019435.txt,"article) and make them come alive for their clientele.
Opportunity

And | use the word clientele to make a final point: innovation in the MOOC world will not just come from educators, but from
any organization that sees the value of massive online and offline courseware. As my own clientele have come to realize,
education in the 21st century is not just something you do before you become an adult but a modality of experience that
empowers you throughout your entire life. No reason for schools to own the entire market for those kinds of experiences.
But | expect the most enterprising schools — especially those with great or underused physical inventory — to partner with
organizations that now have the opportunity to rethink themselves for the education market. In the meantime, it may be time
to reassess the MOOC acronym to make the opportunities more obvious. “Massive Online Offline Communities” seems
more like it. And unlike the online communities of the past, these communities are learning communities, driven by the new
lifelong modality of transformative experience. Expect a land grab for branding and positioning. The disruption in education
is just beginning, and the players are just becoming visible.

Back to top
Women and Children — Full text articles

Indian Police Arrest Suspects in Two Gang Rapes
Sean Mclain and Khushita Vasan — Wall Street Journal

Indian police Sunday were holding 10 men suspected of involvement in two highly publicized gang-rape cases—one in
urban Mumbai, the other in rural Jnarkhand state—highlighting India's struggles with sexual violence.

In Jharkhand in eastern India, police said they had detained five suspects in connection with the rape of a policewoman by a
group of men who had set up a roadblock on a highway. The attack occurred Thursday, but wasn't reported to police until
Friday, they said.

Five other men were in custody Sunday in the Mumbai case, in which a 22-year-old magazine intern taking photographs of
dilapidated buildings was assaulted Thursday in an abandoned textile mill in the city, police said.

The attacks come as the trial of five people accused in the December gang rape and murder of a 23-year-old student ona
Delhi bus entered its final phase. That crime sparked nationwide demonstrations and prompted the government to
introduce harsher penalties for crimes against women.

Protesters took to the streets of Mumbai on Friday to decry the assault on the magazine intern in a city that has a reputation
as arelatively safe place for women. In 2012, the incidence of rape in the Western Indian metropolis was about half the

national rate, according to the National Crime Records Bureau.

""I've always felt much safer in Mumbai compared to other Indian cities,"" said Sanika Prabhu, a television producer from
Mumbai. ""After this incident, | feel like | don't recognize this city anymore.""

Mumbai police said the magazine intern was with a 21-year-old male companion when she was attacked Thursday. The
assailants tied his hands with his belt and raped the woman from 5:30 p.m. to 7 p.m., an official at N.M. Joshi police station
said. Medical tests confirmed the rape, he said.

Under Indian law, rape victims cannot be named in media accounts.

There were 24,915 reported rapes in India in 2012, according to the National Crime Records Bureau, including 233 in
Mumbai. The victims in almost half the Mumbai cases were between 14 and 18 years old.

Activists say the number of rapes is much higher, as many go unreported. India also has a poor record on convictions, with
only around a quarter of alleged rapists convicted in 2010.

In Jharkhand, police said the rape of the police constable occurred at around 1:30 a.m. on Thursday, as she and her

HOUSE_OVERSIGHT_019435
"
IMAGES-002-HOUSE_OVERSIGHT_014317.txt,"rc errti—“(iCssssi‘CSCSOCO LUDO
Banks Takeaways

With our conference coming a week following a historic US presidential election that
helped boost bank stocks by 12%, bank management teams were generally optimistic
with regards to the economic outlook heading into 2017. Greater fiscal stimulus that is
expected to spur economic growth coupled with potential regulatory relief has helped
improve the overall sentiment in the sector. When asked what the biggest impact of the
GOP sweep would likely be to bank earnings, 35% noted tax cuts and infrastructure
spurring growth as the biggest impact.

Chart 3: What do you think is the biggest impact of the GOP sweep to bank earnings?

40% 35%
35%
30%
25%
20%
15%
10%
5%
0%
Interest rates rising Tax cuts and Lower regulatory No real impact/too
faster across the curve infrastructure spending burden, driving higher early to tell
due to stronger dollar — spurring growth, ROEs as excess
therefore better loan capital —_ is returned
demand back to shareholders or

reinvested for growth

Source: BofA Merrill Lynch Global Research

An area that has attracted particular attention among bank investors is around the
current landscape of multifamily lending. We polled the audience around their outlook
for multifamily lending in 2017 and found that 49% of those polled said there was some
concern, but only in certain regions and at certain rental price points. Meanwhile, 29%
noted softening fundamentals that should lead to slower financing activity and
worsening credit metrics (see Chart 4).

Chart 4: How do you view fundamentals for multifamily lending in 2017?

60%
50%
40%
30%
20%
10%

0%

Softening Softening Softening | Someconcern, but No concern
fundamentals fundamentals fundamentals only in certain
should leadto  shouldleadto = shouldleadto _—regions and at
slower financing worsening credit slower financing certain rental price
activity next year metrics activity and points
worsening credit
metrics

Source: BofA Merrill Lynch Global Research

Bankof America a 2016 Future of Financials Conference | 17 November 2016 3
Merrill Lynch

HOUSE_OVERSIGHT_014317
"
IMAGES-002-HOUSE_OVERSIGHT_012766.txt,"Chapter I:
Nature’s secrets

Nature hides her secrets because of her essential loftiness, but not by means of ruse.
— Albert Einstein

In Charles Darwin’s day, biologists unearthed the mysteries of evolution by means of observation,
sometimes accompanied by a simple experiment. This was largely a process of documenting the patterns
of variation and uniformity that nature left behind. Only breeders were directly involved in manipulating
these patterns, using artificial selection to alter the size, shape, coloration, and lifespan of plants and
animals.

The Darwins of today continue this tradition, but with new tools, informed by understanding of
the genetic code and aided by technical developments in engineering, physics, chemistry, and computer
science. These tools allow for deeper penetration into the sources of change, and the causes of
evolutionary similarities and differences. They also enable biologists to change the course of evolution
and the patterns of development by turning genes off or turning novel ones on, and even creating
synthetic organisms in test tubes — a wonderful playground for understanding both questions of origin,
change, and extinction.

The Darwins of today are cowboys, trailblazing a new frontier of understanding. But like the
frontier of the early American wild west, nature holds many secrets and surprises. Sometimes when we
break through nature’s guard, we gain fundamental truths about the living world, knowledge that can be
harnessed to improve animal and human welfare. But sometimes when we break through, we create toxic
consequences and ethical dilemmas. Tampering with nature is risky business as there are many hidden
and unforeseen consequences.

In 1999, the molecular biologist Joe Tsien and his team at Princeton University tampered with
mother nature. Their discovery, published in a distinguished scientific journal, soon filled the
newspapers, radio airwaves, and even a spot on Dave Letterman’s late night television show. Tsien

manipulated a gene that was known to influence memory, causing it to work over time. This created a

Hauser Chapter 1. Nature’s secrets 20

HOUSE_OVERSIGHT_012766
"
IMAGES-003-HOUSE_OVERSIGHT_016149.txt,"residual fuel oil burned. Saudi Arabia has the world’s 4"" largest gas reserves, yet
reaching the 5.8 bcf/d production growth target by 2020 is not that straight forward.

..though boosting gas production to the NTP target poses significant challenges
The new Wasit project, which is due to come online in 2016 and ramp up to 2.5 bcf/d by
2020, meets about 40% of the gas production growth target. Other than that, Saudi
Arabia is focusing on getting unconventional production off the ground to meet the
remaining 3.3 bcf/d of the production growth target. The timing, cost and commercial
feasibly of which this unconventional gas is highly uncertain. The 2.5 bcf/d from the
Wasit project is about the amount of gas that would be needed to meet incremental
power demand and displace 300 thousand bpd of crude burn, assuming gas demand
does not grow in other sectors, which is unlikely. Hence, it is likely that Saudi’s ability to
switch significantly to reduce oil burn in power generation to 2020 will be quite limited,
explaining the new openness to consider gas imports, in our view.

Chart 42: Oil burned for power generation could drop by 30% or 300 Chart 43: Other sectors like petrochemicals and industry will see their
thousand bpd by 2020, most of which would likely be crude gas demand grow as well
1,200 >, td Saudi oil demand in power generation Saudi natural gas consumption, 2013

1,000 m crude burn = resid industry, 2.6

oil & gas befid

800 extraction, 0.3

beifd petchems, 0.5
600 befld
400
200
power
0 generation, 4.4
o ft 2 OO Fe D DBO THT NM TFT YO bef/d
sSsS SSBB SS SES SSES
N N N N N N N N N N N N N
Source: IEA, BofA Merrill Lynch Commodities Research Source: IEA, BofA Merrill Lynch Commodities Research
Equity Strategy: more clarity required, but
investible themes emerging
Hootan Yazhari, CFA >>
Merrill Lynch (DIFC)
hootan.yazhari@baml.com
More clarity required, but high level benefits becoming evident
The recent National Transformation Program (NTP) document provided a much awaited
articulated roadmap through 2020 of how the government is seeking to achieve its
highly ambitious Vision. However, we believe significantly more detail is still required
before the market can make more concrete conclusions on the key winners and losers
from the program as well as quantify the impact it could have on corporate earnings
(both positive and negative).
Whilst at this juncture it is difficult to quantify the size of the NTP opportunity for
individual companies, we feel more confident in highlighting the sectors that we see
could benefit from Saudi Arabia ambitious plans. We have detailed the sectors that we
see as likely benefiting most in the table below. We also highlight the sectors which
could face the most negative impact from the roll out of the NTP.
OS erartll Lynch GEMs Paper #26 | 30 June 2016 39

HOUSE_OVERSIGHT_016149
"
IMAGES-005-HOUSE_OVERSIGHT_019421.txt,"As | wrote in mid-July: “Microsoft had a bad fourth quarter, mostly because many people are not using PCs any more. In
addition, the tech giant took a $900 million charge related to having to cut the price of its Surface RT tablet, which had — as
you might imagine — an impact on results. Missed profit expectations, missed revenue, missed all over the ying-yang.”

With the prospect that the next quarter could be weaker still and with numerous reports of late that there has been slowing of
adoption from its new flagship Windows 8 offering, Ballmer and the board finally aligned to move his departure date sooner.

Most critical to that decision, source said, were increased board worries that recent pressure from activist investor ValueAct
— which has a large stake in the company — had a good chance of succeeding in its efforts to obtain a seat on the board of
Microsoft, especially if Ballmer stayed in place.

And even if the software giant was able to thwart that from happening, said several sources, such a public fight is untenable
for the company, since it was likely to attract even more scrutiny to Ballmer’s performance and perhaps even more investor
action.

ValueAct has until August 30 to notify Microsoft if it plans a proxy battle, and sources said it still wants more that Ballmer’s
retirement. In talks, said sources, it has asked for an aggressive stock buyback and also a dividend increase, which might
assuage its efforts to garner a board seat.

Ballmer denied any pressure from ValueAct specifically in his decision in an interview with the Seattle Times, though
sources said that was simply bluster.

And, even with mounting pressure on him, Ballmer definitely portrayed the change as his decision in an interview he gave to
ZDNet’s Mary Jo Foley last week, after his retirement announcement.

“| would say for me, yeah, I’ve thought about it for a long time, but the timing became more clear to me over the course of the
last few months,” he insisted.

When asked if Gates asked him to stay or go, he said no, apparently to both. “Bill respects my decision. | mean, it’s one of
these things when if it’s — you know, ultimately these kinds of things have to be one’s own personal decision.”

That statement also struck many inside the company as a quick shift. Ballmer, said sources, had been jumping
enthusiastically into business review meetings, as part of the new structure, over the last month. In addition, he had
expressed to many employees his excitement at being part of the changes he had initiated.

But, in meetings after the announcement, numerous sources inside the company said Ballmer seemed uncharacteristically
chastened and quiet, in contrast to his usual confident and forceful manner.

“He was definitely not leaving and then he suddenly was,” said one source. “Even if today’s Steve made the choice, itwas a
choice yesterday’s Steve did not want to.”

Another source, close to the board, perhaps explained it best: “If ValueAct got on the board, | think Ballmer finally realized
that meant it was going to be the hard way from then on out until he left and he did not want that for a company he clearly
loves and has been his life.”

Now, those inside the company are turning to what comes next. While not everyone on the board thought that Ballmer
should step down without a new CEO in place, it’s moot now as Microsoft turbocharges the process — in place for several
years now — to select its next leader.

But, though the committee is headed up by John Thompson, CEO of Virtual Instruments and the former CEO of security
software giant Symantec, most expect Gates — as usual — to be the key decision maker on that choice, too.

A Microsoft spokesman declined comment.

Back to top

The Decline of E-Empires
Paul Krugman — New York Times

Steve Ballmer’s surprise announcement that he will be resigning as Microsoft's C.E.O. has set off a huge flood of
commentary. Being neither a tech geek nor a management guru, | can’t add much on those fronts. | do, however, think |
know a bit about economics, and | also read a lot of history. So the Ballmer announcement has me thinking about network
externalities and Ibn Khaldun. And thinking about these things, I’d argue, can help ensure that we draw the right lessons
from this particular corporate upheaval.

HOUSE_OVERSIGHT_019421
"
IMAGES-002-HOUSE_OVERSIGHT_014303.txt,"EXHIBIT 10

HOUSE_OVERSIGHT_014303
"
TEXT-001-HOUSE_OVERSIGHT_027126.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 9/16/2013 11:15:03 AM 
To: ehud barak___________________________ 
Subject: Re: Summers withdraws from Fed race 
yes the good side is now he is free to have fun and a life. LIsa the wife is very happy as she did not want to 
live in two cities. tell you more when i see you 
On Mon, Sep 16, 2013 at 7:12 AM, ehud barak - 
A major blow to a friend. Lest BO takes him to replace JL. 
Now he'll probably be free in the next few days. EB 
Sent from my iPad 
Begin forwarded message: 
wrote: 
From: ""FT Breaking News"" <FTgemailbriefings.ft.com> 
Date: 15 23:50:52 2013 -ontnon GMT+03:00 
To: 
Subject: Summers withdraws from Fed race 
Reply-To: ""FT Breaking News"" <FT409AS2.6532248@emailbriefingsft.com> 
To view this email as a webpage, click here 
'ffgas 
Sunday September 15 2013 
BREAKING NEWS 
Summers withdraws from Fed race 
Lawrence Summers has taken himself out of the running to be the 
next chair of the Federal Reserve, withdrawing his name after 
opposition from key Democratic senators indicated they would 
oppose his nomination. 
Mr Summers, a former Treasury Secretary and senior economic 
adviser to Barack Obama in his first term, galvanised opposition 
among left-of-centre Democrats who painted him as symbol of the 
wrongs of financial deregulation. 
HOUSE OVERSIGHT 027126 
4.-474E. 
Manage email 
Feedback 
Forward this email 
Manage portfolio 
Subscribe to the FT 
Follow the FT 
Unsubscribe I My Account I RSS I Privacy Policy I About Us I Help 
0 THE FINANCIAL TIMES LTD 2013 
You have received this email because you have signed up from the NBE preference page. 
This email was sent by a company owned by Pearson plc, registered office at 80 Strand, London WC2R ORL. 
Registered in England and Wales with company number 53723. 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 027127 
"
IMAGES-002-HOUSE_OVERSIGHT_012772.txt,"religion looks like a case of exaptation — an expression of human thoughts and emotions that originally
evolved to solve problems other than cooperation, but once in place were swiftly adopted for solving
problems of cooperation.

Further evidence in support of religion as exaptation comes from a follow-up to the dictator game
experiment discussed above. If you swap religious words for non-religious but moral words such as civic,
duty, jury, court and police, you get the same results: people give more money when thinking about these
morally-pregnant, but non-religious words. It is also the case that if you paste up a photograph of eyes
next to a money box for coffee, people give more than with a photograph of flowers. What these two
studies show is that words and images that make us think about others, especially the possibility that
others are watching, turns us into bigger spenders. These psychological transformations are not, however,
specific to religion. Some may think that God is watching, but they and others may also think of a white-
bearded, gavel-wielding, atheistic judge.

We learn three important lessons from the study of tameness and religion, lessons that will propel
our discussion of evil. First, distinguish what something evolved for from what it is used for. Second,
dissect complicated traits down into their component parts as the parts, together with their inter-
dependence, may have different evolutionary histories. Third, the combination of independently evolved
capacities can lead to novel adaptations and possibilities. Some combinations lead to altruistic and
humane compassion toward those we don’t know. Others lead to virulent hatred and annihilation of those

we do know. The brain’s promiscuity is a driving engine for both the good, the bad, and the ugly.

From the shackles of monogamy to the freedom of promiscuity

Many years ago, some American friends of mine were married in a small village in Tanzania. After the
wedding, they went to a local official who was responsible for providing a marriage certificate. On the
certificate were three choices, indicative of the type of marriage: Monogamous, Polygynous, and
Potentially Polygynous. My friends chuckled, but aimed their pen with confidence at Monogamous.
Before they could ink the certificate, however, several Tanzanian men shouted out “NO! At least
Potentially Polygynous. Give yourself the option.” Right, the option. The freedom to explore.

Among social animals, only a few species pair bond for life, or at least a very long time. This fact
is equally true of the social mammals: less than 5% of the 4000 or so species are strictly monogamous.
For these rare species, most of their efforts to think, plan, and feel are dedicated to their partner; what’s
left over goes into finding food and avoiding becoming dinner. Life is much more complicated for the rest

of the social animals. Their social and sexual relationships are more promiscuous, less stable and less

Hauser Chapter 1. Nature’s secrets 26

HOUSE_OVERSIGHT_012772
"
IMAGES-003-HOUSE_OVERSIGHT_015454.txt,"the service of my habit. Munch, slurp, slobber, drool...”

In 1987, | was a keynote speaker at the annual International Society
for Humor Studies conference, held in Tempe, Arizona. | had dinner with a
group of five staffers from the Russian humor magazine Krokodii/ at the
Holiday Inn. They all ordered the specialty of the house—pork ribs—which
came with huge bibs. The editor was given a bib with the words “Miss
America” on it. The art director got a bib with a big iconic “S"" for

Superman.

They were really getting a dose of our culture. As we walked along
the salad bar, one of the Russians stopped at the corn chowder and asked
me, “Is this typical American soup?” As the others gathered around, |
didn’ t quite know how to answer. “I’ m sorry, | don’ t know,"" | said.

“I’m sure it’ s typical somewherein the country.” And then |
remembered that multi-tasking man at the airport urinal. “In America,” |
told the Russian, “corn chowder comes with dental floss that has little
pieces of corn embedded in it, so if you get hungry between meals you

can floss and have a snack at the same time.”

A few years before | met my wife, Nancy, she had gone to a dentist

HOUSE_OVERSIGHT_015454
"
IMAGES-004-HOUSE_OVERSIGHT_018376.txt,"unimaginably fast. No one had ever heard of the Syrian Electronic Army a year
before they were hijacking famous websites, injecting world-class malicious code
into opposition computers and demonstrating a digital attack fluency. 21° Of course
the charming side of such a shift is evident too: Walk the Vatican with an historian in
your ear, master sourdough in a weekend. There’s something not a little miraculous
in the way the networked tools to recombine DNA or hack computer code or design
viral software are getting both more sophisticated and simpler. If earlier eras put
epoch-making implements into human hands - the knife! the train! - our age is now
placing new, mind-shaping forces within instant reach.

In a networked world, economic or military power doesn’t come just from
controlling territory or information alone. It comes, more and more, from this
matery of the temporal. Securing territory today does not, alone, solve many
problems of safety. Control of information, of topologies and finally of time - this is
what matters most. Such temporal security will be elusive; always in need of
defense. The arrival of airpower in World War Two, for instance, shifted battles
from two to three dimensions. “Only large states are able to resist three-dimensional
envelopment,” the historian Nicholas Spykman wrote in 1942.21! Even today, “Air
Superiority” is the precondition of nearly any American war. If we can dominate you
from above, nearly anything seems possible. But networks add a fourth dimension.
“Time Superiority.” Can you move faster than your enemy? Can you bog them down?
Or are you a victim of fourth-dimensional envelopment. Control of time - yours,
your enemies - this will decide your strength.

6.

Back in the fall of 1988, at about the same moment that Danny Hillis and his team
were busy peddling their amazing Connection Machine - and trying to smash every
world computing speed record they could find - another device appeared in the
world of massively parallel super computers. It was, everyone who saw it agreed, an
extremely strange machine. It’s appearance was completely unexpected. It’s
designer was not a famous thinker about parallelism, cavorting with TV network
founders and physics Nobelists. In fact, its very success emerged from this strange
face: The creator knew basically nothing about the sort of parallel design that
informed Hillis’ thinking. Which was strange, because it was far more “parallel” than
the Connection Machine could ever be. It was also cheaper. Simpler. And: It was
faster. In fact, it was the fastest parallel machine in history.

The machine began, quietly enough, in the mind of a 28-year old Cornell graduate
student named Robert Tappan Morris. Morris came by his computer chops honestly
enough: He was the son of Robert Morris Sr., the legendary NSA scientist we
encountered several chapters ago, the man who penned those partly amusing, partly

210 No one had heard: Edwin Grohe, “The Cyber Dimensions of the Syrian Civil War:
Implications for Future Conflict”, Comparative Strategy (2015), 34:2,

211 The arrival of airpower: Nicholas John Spykman, “Frontiers, Security and
International Organization,” Geographical Review, Vol 32, No 3 (July 1942) p. 439

144

HOUSE_OVERSIGHT_018376
"
IMAGES-007-HOUSE_OVERSIGHT_023158.txt,"OUP CORRECTED PROOF - FINAL, 12/9/2014, SPi

xxvi_ Chronology

2 September 2004
11 November 2004

14 December 2004
9 January 2005

14 February 2005
12 March 2005

7 April 2005

26 April 2005

17 August-22
September 2005

15 November 2005
4 January 2006

25 January 2006
30 January 2006
16 February 2006
17 March 2006
28 March 2006
29 March 2006
30 March 2006
11 May 2006

17 May 2006

25 June 2006

28 June 2006
12 July 2006

25 July 2006

11 August 2006
14 August 2006
8 February 2007
17 March 2007
17 March 2007
29 March 2007
15 May 2007

30 May 2007

10 June 2007

UN Security Council Resolution 1559 (Lebanon).

Yasir Arafat dies. The Executive Committee of the PLO elects Mahmoud

Abbas as its leader.

Agreement between Egypt and Israel on Qualifying Industrial Zones.
Mahmoud Abbas elected President of the Palestinian Authority.

Assassination of former Lebanese Prime Minister Rafic Hariri.

Aleppo Understandings.

UN Security Council Resolution 1595 establishes an International Inde-
pendent Inquiry Commission (UNIIC) into the assassination of Prime

Minister Hariri.

Syria ends its military presence in Lebanon.

Israel pulls out of the Gaza Strip.

Agreement on Movement and Access.

Israeli Prime Minister Sharon is incapacitated. Ehud Olmert becomes

interim Prime Minister.

Hamas wins Palestinian Legislative Council elections.
Quartet Statement on Palestinian Legislative elections.
Ismail Haniyeh of Hamas appointed Prime Minister.
Hamas Political Program.

Kadima leader Ehud Olmert wins Israeli elections.
Palestinian Government led by Hamas sworn in.
Quartet Statement on Hamas.

Palestinian Prisoners’ Document.

UN Security Council Resolution 1680 (Lebanon/Syria).

Abduction of Israeli soldier Gilad Shalit. Israel launches Operation

Summer Rains in the Gaza Strip.

National Conciliation Document of the Prisoners.

Israel-Hezbollah war starts after Hezbollah attacks an Israeli patrol along
the Blue Line, killing three soldiers and kidnapping two.

Seven-Point Plan of Prime Minister Siniora.
UN Security Council Resolution 1701.

Cessation of hostilities between Israel and Lebanon.

Mecca Accord for Palestinian National Unity Government.

Palestinian Government of Unity sworn in.

Program of Palestinian Unity Government.

Riyadh Declaration.
Haifa Declaration.

UN Security Council Resolution 1757 establishes Special Tribunal for

Lebanon (STL).

Violent confrontations between Hamas and Fatah in the Gaza Strip.

HOUSE_OVERSIGHT_023158
"
IMAGES-003-HOUSE_OVERSIGHT_014992.txt,"Summary of Open Trades (19-Jun-17)

Price data for open level reflects the price on open date and does not necessarily reflect
the price at which the trade could be executed at the date of this report. Our trades are
structured to be executed on the open date and are not necessarily appropriate to

execute as formulated beyond that date.

Table 9: Summary of open trades as of 19-Jun-17

Trade Description

Long SX5E vs short SPX Dec18 var swap

Long NKY vs short SPX Dec18 var swap

Long SX5E vs short SPX Dec18 put vs put

Buy a 1Y ATM worst-of call on SPX & TLT

Buy SPX>UKX Jun17 ATM outperformance call, conditioned on SPX lower
at maturity (q{USD)

Buy UKX Jun17 6650 put, sell SPX Jun17 1850 put

Buy an SX5E Sep-17 95% put conditional on EUR 10Y CMS > 1.1% or <
0.3% in Mar-17

Buy 2823 HK Jun-17 90/110 strangle

Buy ESTX50 Dect? 90% put contingent on EURGBP < 0.82 by Jun? expiry

Buy SPX>UKX Jun17 5% outperformance call (qUSD)

Long XLF vs SX7E Juni? ATM outperf call, contingent on SX7E higher at
Jun expiry (qEUR)

Buy NKY Jun17 110% Call

Buy TPINSU Jun17 110-125% Call Spread

Buy TPNBNK Jun17 110-125% Call Spread

Buy 2823 HK Junt7 90/1 10% strangle

Buy HSCEI Jun17 105-120% call spread contingent on $KRW >1200

Buy NKY-SPX Dec19 70/110% corridor variance

Buy NKY Jun17-Jun18 18,500 strike FVA

Long Russell 2000 vs. short S&P 500 Dec-18 var spread

Buy 1x Jun? 64 call on Aug17 Brent futures, sell 1x SXEP Jun17 330 call

Buy SPX 6m ATM call contingent on GLD 5% higher in 3m
Long NKY - SPX Dec-18 corridor var replication
Buy NDX Top20 volatility dispersion

Long 1.8x vega on 1y single stock vols of UK Brexit exposed names,
Short 1x vega on 1y FTSE index vol

SPX Sep-17 95% puts conditional on the Syr CMS rate above 2.4% at
maturity

Buy Buy-Rated MSCI A-shares stocks & hedge with puts

Buy A-shares with highest MSCI impact & hedge with put

Own Japan stock vol via gamma weighted vol dispersion

Buy CNOOC Jul-17 95% puts vs. sell HSCEI 95% puts

Buy CH Merchant Bk Jul-17 18.5/17 put spread vs 22 call

Buy SX5E Dec17 3800 calls contingent on EURUSD > 1.1 at expiry
Buy 1.5x KOSPI2 285 puts vs. short 1x $KRW 1160 call

Buy EEM Aug17 39.5 put and sell EEM Aug17 37 put

Buy Dec17 105% call on an equally weighted basket of SX7E, SXAP, SXPP
& SXEP, sell Dec17 ATM worst-of call on the same

Buy NKY Jul-17 19500 puts vs. short Dec-17 17500 puts

Short GILD $55-$62.5-$67.5 put spread collar

Long 1x EEM 3m 97.5% put vs. short ~0.09x units each of 3m 97.5% puts on
FXI, EWY, EWZ, EPI, EWT, RSX, EZA, and EWW

Buy Tencent Jul1? 250/300 strangle
Buy A-shares (2823 HK) Jul17 105% call

Buy 1x contract of ESTX50 Jun17 3525, sell 4x contracts of V2X Aug future

Buy SX5E Dec17 3450-3700 bullish risk reversal vs short IBOXX HY TRS
with equal notional sizing

Open
Date
5-Jul-16
5-Jul-16
5-Jul-16
18-Jul-16
17-Oct-16

17-Oct-16
14-Nov-16
21-Nov-16

2-Dec-16

ie}

-Dec-16

2-Dec-16

02-Dec-16
02-Dec-16
02-Dec-16
02-Dec-16
02-Dec-16
02-Dec-16
02-Dec-16

5-Dec-16

9-Jan-17

23-Jan-17
3-Feb-17
27-Feb-17

4-Mar-17

4-Mar-17
23-Mar-17
23-Mar-17
0-Apr-17
24-Apr-17
24-Apr-17
8-May-17
8-May-17
15-May-
15-May-
15-May-
16-May-
1.5%

22-May-17
22-May-17

22-May-17

30-May-17

Open
Level
6.1 vols
5.7 vols
0.00%
0.9%
2.0%

2.6%
2.1%
5.55%

1.63%
2.05%

1.20%

1.83%
3.30%
3.20%
5.90%
1.20%
1.50%
21.5%

3.9pts

00%

%
4.00%
7.0%

32.3vols

%

44%
44%
5.8%
0.77%
0.10%
3%
0.3%
6%

6%

0.0%
5%
0.0%
2.45%
15%

00%

A1%

Expected
Trade Term

Dec-18 expiry

year

Jun-17 expiry

Jun-

>

7 expiry
Sep-17 expiry

-17 expiry

Dec-17 expiry

-17 expiry

Jun-17 expiry

Jun-17 expiry
7 expiry
7 expiry
7 expiry
7 expiry
Dec-19 expiry
7 expiry

vun-
vun-
vun-
vun-

vun-

Dec-18 expiry

Jun-17 expiry

Jul-17 expiry
Dec-18 expiry

Jan-18 expiry

4-Mar-18

Sep-17, expiry

Jun-17 expiry
7 expiry
Mar18 expiry
Jul17 expiry
Jult7 expiry
Dec? expiry
Jult7 expiry

Aug17, expiry

vun-

Dec? expiry
Jult7 expiry
Sep-17 expiry
3m

Jul-17 expiry
Jul-17 expiry

Jun-17 expiry

Dec-17 expiry

Rationale

Investors should re-assess attractiveness of popular and {typically} technically motivated longer-
dated RV vol trades, given environment of structurally higher political & economic risks and
increasingly limited policy options

Cheap equity upside in a bond / equity melt-up

Risks of a hard Brexit rising and (weak) currency tailwind likely to prove short-lived; position
cheaply for FTSE 100 (UKX) underperformance

Remain long equities and cheapen hedges by conditioning on rates

China risk premium rising but A-shares vol still at all-time lows
Equity-FX correlation is not priced for a spillover of populism into the EU, which could cause EUR
0 fall against an already weakened GBP as equities fall

UKX is heavily exposed to EU (50% revenues) and should underperform SPX if GBP tailwind
ades. Volatility & correlation suit well for outperformance

Cheapen long XLF upside to near 8y lows via selling upside on structurally challenged European
banks & relatively more bearish outlook for US rates vs EU

USDJPY and NKY the biggest beneficiaries of a Trump win

Banks and Insurance are the most leveraged sector

Banks and Insurance are the most leveraged sector

China risk premium rising but A-shares vol still at all-time lows

Own contrarian EM upside at low cost & limited risk

QE uncertainty and USDJPY vol support NKY vs SPX realized vol

What if QE hits its limit? Long NKY vol outright which is cheap to carry

With fiscal stimulus and potential tax cuts, small caps revert to old normal generating higher vol
on upside and downside relative to large caps

Vol and price technicals are attractive. BofAML commodity strategists oil target is $70/bbl but this
is already priced in SXEP levels according to BofAML Oil & Gas equity analysts

Position for a near-term wobble followed by yet another equity melt up

Cheaply access positive carry QE failure hedge

Position for a pick-up in single stock realised vol on the 10 names (within FTSE’s top 30} where
post EU referendum realised vol was the highest relative to current 1y ATMf vol. The 10 names
are: Barclays, Aviva, Prudential, BT, Glencore, Tesco, CRH, BA, Standard Chartered & HSBC.

Hedge portfolios against a buy-the-dip failure should a faster rate cycle ultimately jeopardize it

he MSCI inclusion theme; Hedge with 2823 HK Jun17 95% put

Market may trade on the MSCI inclusion theme; Hedge with 2823 HK Jun17 95% put
Historically attractive to own TOPIX Top 10 corridor gamma weighted volatility dispersion
Hedge a rollover in China GDP and screen for cyclicals that could face pressure

Hedge a rollover in China GDP and screen for cyclicals that could face pressure

Benefit from low vol, flat correl, likely hawkish ECB & (FX un-hedged) inflows into EU equities
Leverage inexpensive equity vs. FX vols to own cheap tail protection

Buy inexpensive EM equity puts on near-record performance gap to commodities

Monetise low vol & high implied correl to position for greater sector dispersion in EU: long basket
call, short worst-of call

Own inexpensive NKY hedges into FOMC; Term structure is too steep is under-pricing risks
Buy out-of-favour and inexpensive biotech upside by levering depressed vol & skew

Market may trade on

Buy EEM puts financed by a basket of EM puts to lever near record low correl

Hedge a potential China tech bubble; Tencent potentially volatile after a 45% rally YTD

Hedge the upside into MSCI announcement on 20-Jun

Fundamental case to be long EU equities remains intact but stretched bullish positioning could
lead to near-term consolidation
BofAML Equity & Credit strategists highlight they favour equities over HY credit as div yields have
surpassed HY credit yield & equities o

er more gearing to rising PMI's, earnings and FCF

Bankof America
Merrill Lynch

Global Equity Volatility Insights | 20 June 2017 21

HOUSE_OVERSIGHT_014992
"
IMAGES-004-HOUSE_OVERSIGHT_017045.txt,"Figure S6

100%

80%

60%

40%

20%

AHD words with frequency < X

0%

Word frequency (log)

Fig. S6. Frequency distribution of words in the dictionary. We compute the frequency in our year 2000
lexicon for all 116,156 words (1-grams) in the AHD (year 2000). We represent the percentage of these
words whose frequency is smaller than the value on the x-axis (logarithmic scale, base 10). 90% of all
words in AHD are more frequent than 1 part per billion (10°), but only 75% are more frequent than 1
part per 100 million (10°).

HOUSE_OVERSIGHT_017045
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HOUSE_OVERSIGHT_028367
"
IMAGES-006-HOUSE_OVERSIGHT_021306.txt,"understanding the behavior of others. If
your brain mirrors the neural activity in
the brain of someone you see acting, this
could provide a basis for understanding
the motivation for the action. If your
brain resonates to the observed action as
if you were acting, this could call to
mind previous experiences acting that
way providing a memory for why you
acted that way. That is, our social brain
may directly resonate to the actions of
others without reasoning explicitly about
those actions. This kind of mechanism,
through which intentions might be
inferred, could then prepare responses
quickly to facilitate the smooth flow of
social interactions whether in a game or
a dialogue. Of course, a critical aspect
of such a mechanism is to differentiate
our resonance to other people’s actions
and the control of our own. This kind
of neural system for mapping the actions
and intentions of others has been
identified with a network of regions
called the mirror neuron system °, and
this system may help to induce a degree
of reflexive similarity or identification
between self and other. The mirror
neuron system appears to be
continuously engaged unless it is
actively suppressed by inhibition, so that
this system may continuous monitor the
behavior of ‘others’ in our social
environment.

Of course, mapping the
movements of the opponent is useful,
but certainly not sufficient to defend our
position, score a point, or win a match.
One needs to execute countermoves.
This is the domain of the motor system
in the brain, which includes regions
involved in the preparation and
execution of motor action. The motor
system is responsible for the
implementation of one’s goals and
intentions to perform an action®. Thus,

Page | 60

the social brain includes monitoring and
motor systems that function in parallel.
The mirror system puts the player in the
opponent’s shoes and monitors the
opponent’s actions in an anticipatory
manner. Other parts of the social brain
maintain the distinction between player
and opponent by shaping the
implementation of one’s actions, namely
by engaging a counteraction.

In sum, a tennis game or any
social interaction depends on a complex
network of brain regions that mediate
perception and action, and the
relationship between observed action
and one’s own behavior. The overlap in
brain regions responsible for these two
important social functions suggests how
tightly coupled and coordinated social
interactions can be. However, these two
systems cannot operate in isolation from
our knowledge of the context in which
behavior occurs. We, therefore, turn to
this topic next.

The Social Context

In a tennis game or any social
interaction (e.g., dancing, conversation),
the behavior of one individual
constitutes a stimulus for others. If a
behavior is meaningful, then neural
mechanisms responsible for social
perception and social interaction are
likely to be activated to engage in
complementary action. In a competitive
context, such as the tennis game, the
motor system is engaged in the
preparation and execution of
complementary actions to those
observed and anticipated based on the
inferred goals and intentions of the
competitor. However, if everyone shares
the same goal, for example, as in an
audience clapping, the neural systems
for monitoring the actions of others and
executing one’s own actions can be

HOUSE_OVERSIGHT_021306
"
IMAGES-009-HOUSE_OVERSIGHT_027054.txt,"From: Kevin Frost [mailto : iii
Sent: Monday, May 07, 2012 6:39 AM

To: Boris Nikolic

Subject: Tix for Jeffrey

Importance: High

Boris:

Here is the information sheet for Jeffrey to buy tickets. Tell him to use my name and the name of Magdalena
Schuster on the email below. They’ve already approved him to buy tickets to Lifeball and the Gala dinner
which happens right before the ball. I hope you guys are all planning to attend the dinner as well. You can tell
your friend Jeffrey that he should buy the Mini car for me as a thank you. =)

I’m getting in to Vienna on Friday afternoon. Let’s get together on Friday night.
See you soon,

Kevin

Kevin Robert Frost

Chief Executive Officer
amfAR, The Foundation for AIDS Research

120 Wall Street, 13"" Floor
New York, NY 10005

From: Magdalena Schuster nit iii i i
Sent: Thursday, May 03, 2012 1:04 PM
To: Kevin Frost

Subject: AW: AW: NY plane
Hi Kevin,

attached please find an information sheet about the AIDS Solidarity Gala — I am sure Jeffrey will very much
enjoy the Gala.

I’ve also included the auction items at the Gala for your and Jeffrey’s information.

Let me know how I can be of further assistance.

HOUSE_OVERSIGHT_027054
"
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Monday."", ""type"":""text""}, {""additions"": [{""URL"":""https://int.nyt.com/data/documenthelper/3
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letter/b0b9087dd99c887defbc/optimized/full.pdf#page=1"", ""range"":{""length"":66,""start"":0},

“""type™:""link""}],""identifier"":"" anf-body-

18"",""inlineTextStyles"": [{""range"":{""length"":260,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range""™:{""length"":260,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"": ""body"", ""text"": ""The decision to come forward, she wrote, A4€ewas a very

difficult one, but I felt that this was something that a citizen couldnde™t NOT do. I
felt agony yet urgency and a civic duty to let it be known, in a confidential manner,

prior to the nomin being selected.a€"",""type"":""text""}, {""identifier"":"" anf-body-
19"",""inlineTextStyles"": [{""range"":{""length"":408,""start"":0},""textStyle"":"" anf-ts-

i""}, {""range""™:{""length"":408,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"": ""body"", ""text""™:""She went on: d€eMr. Kavanaughd€™s actions, while many years

ago, were serious and have had a lasting impact on my life. I thought that knowledge of
his actions could be useful for you and those in charge of choosing among the various
candidates. My original intent was first and foremost to be a helpful citizen d4€"" ina
confidential way that would minimize collateral damage to all families and friends
involved.4€"", ""type"": ""text""}, {""additions"": [{""URL"":""https://int.nyt.com/data/documenthelp
er/320-christine-blasey-ford-grassley-
letter/b0b9087dd99c887defbc/optimized/full.pdf#page=1"", ""range"": {""length"":25,""start"":1},

“type™:""link""}],""identifier"":"" anf-body-

20"",""inlineTextStyles"": [{""range"":{""length"":27,""start"":0},""textStyle"":"" anf-ts-

i""}, {""range""™:{""length"":27,""start"":0},""textStyle"":"" anf-ts-

i""}, {""range""™:{""length"":1,""start"":25},""textStyle"":"" anf-ts-

36""},{""range"":{""length"":9, ""start"":16},""textStyle"":"" anf-ts-

36""}, {(""range""™:{""length"":15,""start"":1},""textStyle"":"" anf-ts-36""}],""layout""™:""default-
body"", ""role"": ""body"", ""text"": ""[Read Dr. Blaseyd€™s

letter.]"", ""type"": ""text""}, {(""additions"": [{""URL"":""https://www.judiciary.senate.gov/imo/med
ia/doc/2018-09-24%20Grassley%20to%20Ford%20-

S20Fords20Allegations.pdfi"", ""range"": {""length"":8, ""start"":13},""type"":""link""}],""identifier""

7"" anf-body-

21"",""inlineTextStyles"": [{""range""™:{""length"":437,""start"":0},""textStyle"":"" anf-ts-
i""},{""range""™:{""length"":437,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"",""text"":""Mr. Grassley replied that he was committed to making sure

she was heard. d4€eItd€™s important to me that you personally know how sincere and
thorough this effort has been, including my commitment to make sure committee members
and other senators are able to hear directly from you,4€ he wrote, in a letter his
aides released Monday. He added a postscript in his own hand: 4€eP.S. I look forward to
your testimony.d4€ He signed the letter,

a€eChuck.a4€"", ""type"": ""text""}, {""bannerType""™:""any"", ""identifier"":"" anf-
banner advertisement-4"", ""layout"": ""“ComponentLayout—
4"",""role"":""banner advertisement"", ""type"":""banner advertisement""}, {""additions"": [{""URL™:""h

ttps://apple.news/AyWjf 1lbkP7-
54sKiImxS3Ng"", ""range"": {""length"":1, ""start "":195}, ""type""™:""link""}, {""URL"":""https://apple.news
/AyWj£ 1lbkP7-

S4sKLmXS3Ng"", ""range"": {""length"":66, ""start"":196},""type"":""link""}],""identifier"":"" anf-body-
22"",""inlineTextStyles"": [{""range""™:{""length"":378,""start"":0},""textsStyle"":"" anf-ts-
i""}, {""range""™: {""length"":378,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"":""body"", ""text"":""On Sunday evening, just hours after lawyers for Dr. Blasey

and Senate Judiciary Committee aides finished negotiations on the shape of Thursdayd€™s
hearing, new allegations began to surface. First, The New Yorker published an interview
with a woman, Deborah Ramirez, who said that Judge Kavanaugh exposed himself to her at

a drunken dormitory party during their first year at

Yale."",""type"":""text""}, {""identifier"":"" anf-body-

HOUSE_OVERSIGHT_028401
"
IMAGES-006-HOUSE_OVERSIGHT_021460.txt,"To: Tampa From: @..: *

Re: 31E-MM-108062, 05 7171/2007

LEAD (s) :
Set Lead 1: (Info)
TAMPA
AT ORLANDO, FL

FBI Miami requests travel concurrence from FBI Tampa
to conduct victim/witness interview.

+4

HOUSE_OVERSIGHT_021460
"
IMAGES-009-HOUSE_OVERSIGHT_027732.txt,"Message: I think , the ' we are all flawed ""

and trumps personal life, my opinion of

it or of him does not detract from the policy which I fully support.

Time: 05/31/19 04:55:42 AM (580996542)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 7FF460F5-BFIF-407F-817C-3383DFDFD53C

Message: ???

Sender: e:jeeitunes@gmail.com

Time: 05/31/19 04:56:05 AM (580996565)
Flags: 1085445
Is Read: No

Is Invitation: No

ry

1ED-48DC-A364-3FE

Ne}

GUID: BB821973-1 ES5S9CO267

Message: Your explanation for your quotes

Sender: e:jeeitunes@gmail.com

Time: 05/31/19 04:56:10 AM (580996570)
Flags: 1085445
ITs Read: No

Is Invitation: No

ee

GUID: BFFB4821-FC8E-40BO-AB12-7ED2DCBA64B9

Message: Are you back,?

sender:

Time: 05/31/19 04:56:33 AM (580996593)
Flags: 1126401
Is Read: Yes

Is Invitation: No

r

(EDFO-D481-492D-B81F-79240COCFF35

GUID: SAD

Message: London: back tomorrow to film

Time: 05/31/19 04:56:43 AM (580996603)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: E63B61D5-13C3-4A2C-8CE3-FD62D0EBF48F

Message: Why do I need explanation?

HOUSE_OVERSIGHT_027732
"
IMAGES-008-HOUSE_OVERSIGHT_024672.txt,"A

CKRELLE
CAPITAL

Cannabis Investment Report | December 2017

Production Equipment and Supplies

Production equipment and supplies include the physical components used in cannabis production.
Many industry participants in this subsegment provide products to a broad range of fully legal indus-
tries and do not “touch the plant’; therefore, these participants typically do not require special cannabis-
related licenses and generally avoid legal risks related to violations of federal law.

Some components of cannabis production are similar or identical to components used in other
agricultural industries (such as irrigation systems), and some are specialized for application to the
cannabis industry (such as extraction machines). Components supplied for many indoor and green-
house cultivation facilities include electrical lighting equipment, air filtration and circulation systems,
irrigation systems, nutrient management systems, drying and curing equipment, and computer-
controlled automation and monitoring systems. Specialty cannabis equipment companies now provide
“all-in-one” automated indoor cultivation systems that can be used for in-home cultivation or scaled
for commercial purposes.

Extraction System Cultivation System

Production and Testing Services

Production services include cannabis extraction and product manufacturing services provided primar-
ily on a business-to-business basis to cultivators, consumer product companies and retail dispensaries.
Extraction companies invest in specialized equipment that transforms cannabis flower into concen-
trates intended for wholesale. Product manufacturing services companies process cannabis flower or
concentrates, or provide packaging and wholesale services.

Testing services include scientific testing of cannabis products and reporting of information about
product quality, safety and composition. Cannabis products are tested at multiple stages of pro-
duction for genetic information and strain verification, cannabinoid and terpene composition and

36 © 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024672
"
IMAGES-007-HOUSE_OVERSIGHT_022520.txt,"The FCPA:

Anti-Bribery Provisions

Electricity Commission senior officials to travel to Michigan to inspect Company A's facilities. Because it is a lengthy
international flight, Company A agrees to pay for business class airfare, to which its own employees are entitled
for lengthy flights. The foreign officials visit Michigan for several days, during which the senior officials perform an
appropriate inspection. Company A executives take the officials to a moderately priced dinner, a baseball game,
and a play. Do any of these actions violate the FCPA?

No. Neither the costs associated with training the employees nor the trip for the senior officials to the Company's
facilities in order to inspect them violates the FCPA. Reasonable and bona fide promotional expenditures do not violate
the FCPA. Here, Company A is providing training to the Electricity Commission’s employees and is hosting the Electricity
Commission senior officials. Their review of the execution and performance of the contract is a legitimate business purpose.
Even the provision of business class airfare is reasonable under the circumstances, as are the meals and entertainment,
which are only a small component of the business trip.

Would this analysis be different if Company A instead paid for the senior officials to travel first-class with their
spouses for an all-expenses-paid, week-long trip to Las Vegas, where Company A has no facilities?

Yes. This conduct almost certainly violates the FCPA because it evinces a corrupt intent. Here, the trip does not appear
to be designed for any legitimate business purpose, is extravagant, includes expenses for the officials’ spouses, and therefore
appears to be designed to corruptly curry favor with the foreign government officials. Moreover, if the trip were booked as a
legitimate business expense—such as the provision of training at its facilities—Company A would also be in violation of the
FCPA's accounting provisions. Furthermore, this conduct suggests deficiencies in Company A's internal controls.

Company A's contract with the Electricity Commission is going to expire, and the Electricity Commission is
offering the next contract through its tender process. An employee of the Electricity Commission contacts
Company A and offers to provide Company A with confidential, non-public bid information from Company A's
competitors if Company A will pay for a vacation to Paris for him and his girlfriend. Employees of Company A
accede to the official's request, pay for the vacation, receive the confidential bid information, and yet still do not
win the contract. Has Company A violated the FCPA?

Yes. Company A has provided things of value to a foreign official for the purpose of inducing the official to misuse
his office and to gain an improper advantage. It does not matter that it was the foreign official who first suggested the
illegal conduct or that Company A ultimately was not successful in winning the contract. This conduct would also violate
the FCPA's accounting provisions if the trip were booked as a legitimate business expense and suggests deficiencies in
Company A's internal controls.

HOUSE_OVERSIGHT_022520
"
IMAGES-004-HOUSE_OVERSIGHT_018410.txt,"next century. How might Huang Hua, with his nature-of-the-age consideration of
strategy have regarded the matter? What does gatekeeping tell us?

The dominant view of future relations between Americans and Chinese generally
runs along a nervously familiar historical track: An established power (the US) anda
rising one (China) consider each other. Do they cooperate? Scratch at each other in
constant annoyance? Each nation possesses a different image the world. Each holds,
as well, distinct pictures of their role. One power has enjoyed a long period of
prosperity, has built and defended a global structure; the other, trod mercilessly
underfoot by history, feels the unbearable flow of power’s rising sap, a hunger for
recognition and release and for some, revenge; her economy craves resources, trade
routes, and markets. So Germany encountered and then attacked Great Britain at the
turn of the 20 Century. Japan collided, similarly, with Russia in 1904. France taking
on Austria, Russia and Great Britain in the Napoleonic age.

Even if the leaders of the United States and China intend to avoid conflict, they face
one of the most sobering, if not depressing, problems of international politics: The
“security dilemma”. The world is a dangerous place. So countries do things to feel
safer. Their populations demand it. Germany looks at Britain’s imperial navy in the
1890s: London could snap Berlin’s trade arteries. So the Kaiser orders two
battleships. Britain builds three in response. Germany turns to submarines. And so
on. Each country, chasing her own security, ends up /ess secure. This is the
“dilemma”. The puzzle is like one of those woven wicker finger traps: The harder
each side pulls to get out, the more stuck they become. America in 2012 pivots her
military gaze to Asia. China feels encircled. She orders a couple of aircraft carriers,
paves remote islands into military bases. America flies aircraft closer to Chinese
waters. Are the two sides more secure? Collisions, arms racing, accelerating distrust
become the threnody of contacts. Each side seeks something impossible: Perfect
security. Move first, certain forces begin to whisper in each capital.

The essence of this problem today, as the United States and China consider their
future, is not merely or even mainly in the details of trade, territory, or cyber
disputes we read about. These hot points are important, of course, but they are
symptoms of differing judgments of the world, of a fracture at that first step of
asking, “What is the nature of the age?” Americans generally believe the existing
global power map is just, sustainable, in need — perhaps - of minor adjustments.
America engineered this system; benefits tremendously from it’s fictionless
operation. China regards that same layout differently. As broken, unbalanced,
rocking towards a seizure — and, anyhow, built, lubricated and run without her
participation. This view is sharpened by ideology, national psychology and the bald
fact that no global mechanism ever functions perfectly. The larger nature of the age
is, many in Beijing feel, Da po, Da li. Great destruction. Great construction. Certainly
this is true inside China; it must be true outside. The nation has it’s hammers out.
They see the paradoxes of power we read about earlier, the inability to act and the
collapse of American credibility, as clearly as people in Washington or Damascus or
Moscow. Surely the global system should be adjusted, they think. Tap. Tap.

178

HOUSE_OVERSIGHT_018410
"
IMAGES-004-HOUSE_OVERSIGHT_017723.txt,"Page 9 of 52
2005 B.Y.U.L. Rev. 835, #849

Discussions about the Amendment began again soon after the 2000 presidential elections. On April 15, 2002, Senators Kyl and
Feinstein reintroduced the Amendment in the Senate, 7? and the following day, President Bush announced his support. °° On
May 1, [*850] 2002, a companion measure was proposed in the House. ®! On January 7, 2003, Senators Kyl and Feinstein
proposed the amendment as Senate Judiciary Resolution 1. The Senate Judiciary Committee held hearings in April of that year,
82 followed by a written report supporting the Amendment. *> Shortly thereafter, a motion to proceed to consideration of the
measure was withdrawn when proponents determined they did not have the sixty-seven votes necessary to pass the
amendment. After it became clear that the necessary super-majority votes to amend the Constitution were not attainable,
victims’ advocates turned their attention to enacting a comprehensive victims’ rights statute.

C. The Crime Victims’ Rights Act

The Crime Victims’ Rights Act ultimately resulted from a decision by the victims’ movement to seek a more comprehensive
and enforceable federal statute rather than to continue pursuing the more ambitious goal of a federal constitutional amendment.
In April 2004, victims advocates met with Senators Kyl and Feinstein to decide whether to push yet again for a federal
constitutional amendment. Conceding that the amendment had only majority support in Congress rather than the necessary
super-majority, the advocates decided to press for a far-reaching federal statute protecting victims' rights in the federal criminal
justice system. 54 In exchange for backing off from the federal amendment in the short term, victims’ advocates received near-
universal congressional support for a ""broad and encompassing"" statutory victims’ bill of rights. 8° This new approach not only
established a string of victims' rights but also provided funding for victims’ legal services and created remedies for the violation
of victims' rights. 8° The victims' [*851] movement is currently evaluating the success of the statute before deciding whether
to continue pushing for a federal amendment. */

The Crime Victims' Rights Act gives victims ""the right to participate in the system."" °° To facilitate such participation, the Act
grants victims eight specific rights:

(1) The right to be reasonably protected from the accused;

(2) The right to reasonable, accurate, and timely notice of any public court proceeding, or any parole proceeding, involving the
crime or of any release or escape of the accused;

(3) The right not to be excluded from any such public court proceeding, unless the court, after receiving clear and convincing
evidence, determines that testimony by the victim would be materially altered if the victim heard other testimony at that
proceeding;

9% §.J. Res. 35, 107th Cong., 2d Sess. (2002).
8° 149 Cong. Rec. S82 (daily ed. Jan. 7, 2003) (statement of Sen. Kyl).
8! H.R.J. Res. 91, 107th Cong., 2d Sess. (2002).

82 A Proposed Constitutional Amendment To Protect Crime Victims: Hearing on S.J. Res. 1 Before the S. Judiciary Comm., 108th Congress,
108-189 (2003).

83 §. Rep. No. 108-191 (2003).

84 See Twist, supra note 2.

85 150 Cong. Rec. $4261 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).

86 Td. at S4263 (statement of Sen. Feinstein).

87 Td. (statement of Sen. Feinstein); see also Att'y Gen. Alberto R. Gonzales, Prepared Remarks at the Hoover Inst. Bd. of Overseers

Conference (Feb. 28, 2005) (indicating that a federal victims' rights amendment remains a priority for President Bush), available at
http://www.usdoj.gov/ag/speeches/2005/02282005 agremarkshov.htm.

88 150 Cong. Rec. $4263 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein). For a description of victim participation, see Beloof, The
Third Model of Criminal Process, supra note 15.

DAVID SCHOEN

HOUSE_OVERSIGHT_017723
"
IMAGES-007-HOUSE_OVERSIGHT_024151.txt,"UK equities

FTSE 100 (27 June): 5,524 (last month: 5,266)
UBS View FTSE 100 (6-month target): 5,785

e We continue to like UK equities relative to global ones. An expected improvement in the global economy
over the coming quarters should support UK companies as 70% of revenues are generated abroad.

¢ Energy is the largest sector of the UK market. While the oil price eased sharply over the past months, we
expect it to stabilize in the second half of 2012. An attractive valuation of the energy sector at 6.5x trailing
earnings provides some buffer for earnings volatility going forward.

e Profitability of UK banks is reasonable. They are less affected by the sovereign debt crisis than their
Eurozone peers. While the recent easing of collateral requirements by the Bank of England is supportive in
the short-term, the profitability of the domestic operations could be negatively affected by the
implementation of the ring-fencing bank reform by 2015.

¢ UK equities’ P/E, at about 10.0x trailing, indicates attractive value relative to global equities. Based on our
12-month forward earnings growth estimate of about 5% and the P/E multiple slightly expanding to 10.3x,
we expect UK equities to show good returns over the next six months.

4 Positive scenario FTSE 100 (6-month target): 6,650

¢ Continued global growth and strong demand from emerging markets should support demand for
commodities, helping the Materials and Energy sectors to lead the market higher. The market could re-rate
to a P/E multiple of close to 12.0x, and we would expect earnings growth of 5-8% over 12 months.

& Negative scenario FTSE 100 (6-month target): 4,400

e A global recession drags UK earnings down by 15-20%. The market's defensive characteristics would only
partly offset its strong exposure to commodity-related sectors. We would expect the trailing P/E multiple to
drop towards slightly below 9x.

Note: Scenarios refer to global economic scenarios (see slide 7)

What we're watching Why it matters

Growth indicators Business survey indicators provide information on the economic development in
the UK. Key date: 2 July, PMI manufacturing for June; 4 July, PMI services
for June;

Commodity prices Energy and Materials together are about 30% of the UK market by market

capitalization. Developments in commodity prices affect earnings estimates.
Policy action Loose monetary policy by the Bank of England (BoE) supports equities. Key date:

05 July, Bank of England policy meeting

Preference: overweight

Recommendations

Tactical (6 months)

e We like the Energy sector due to
attractive valuations; Consumer Staples
is another preferred sector Because of
its defensive qualities.

e Approaching the end of the patent cliff
should remove some uncertainty on the
Healthcare sector and enable a re-
rating.

Strategic (1 to 2 years)

e As commodity-related sectors, Energy
and Materials should benefit from
robust demand in emerging markets.

e The UK market's 4% dividend yield
provides a good income stream.

UK market trades at a P/E-discount
(based on realized earnings)

01.90 01.92 01.94 01.96 01.98 01.00 01.02 01.04 01.06 01.08 01.10 01.12
—— FTSE 100 realized PIE World realized PIE

Source: Thomsen Reuters, UBS CIO, as of 21 June 2012

Note: Past performance is not an indication of future returns.

16

For further information please contact CIO asset class specialist Markus Irngartinger, markus.irngartinger@ubs.com

Please see important disclaimer and disclosures at the end of the document.

HOUSE_OVERSIGHT_024151
"
IMAGES-012-HOUSE_OVERSIGHT_033045.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 11/16/2017 9:52:54 PM
To: Lesley Groff as
Subject: Re:

Importance: — High

27

On Thu, Nov 16, 2017 at 4:48 PM, Lesley Groff <> wrote:

We have a ticket for [J to go back to Paris on Nov 24. What date shall I change this to since she will be

traveling with you?

Sent from my iPhone

On Nov 16, 2017, at 4:46 PM, jeffrey E. <jeevacation@gmail.com> wrote:

at the moment we will go to Ish on sunday the 26th early then to new york where 1 will stay the week,

larry , it will be assayay andI, trump is in town that week,

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and

HOUSE_OVERSIGHT_033045
"
TEXT-001-HOUSE_OVERSIGHT_023426.txt,"From: Lisa New 
Sent: 9/23/2014 10:17:55 PM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: Highlight 
Importance: High 
That was fun- definitely the highlight of a day that was not without other interesting moments 
Don't know which was better-- the wholly unexpected surprise reminder (by a prime minister) of my 
boyfriend from 1976( who was in high school, who lived with his doting parents), or , getting creamed on 
my producer's budget but then offered the opportunity to profess poetry for production funds . There may 
be someone as good in New York, but i'll never tell you and you really have a heck of a seminar table 
there . when do we do Whitman's ""song of Myself"" 1-15 Who else is reading with us? I'm ready . 
A few other follow ups : 
David and Brigid point out that reality tv doesn't cost anything because it is, as it sounds, very low 
budget . No writing , no special expertise or knowledge or research , no archival footage , no copyright 
clearance , no actors , no travel beyond the one location , certainly no clinton or woody allen or 
justice elena kagan or david brooks or Lena Dunham or even Professor New. That said , I think if were 
hiring the crew id do it for less -- probably 1, 250,000 all in . But I haven't won 10 Emmys and David 
has . That has value too. As does wgbh . But I'll be more prepared for the next conversation and want to 
be much more prepared for templeton, so thank you . 
really liked Michael. I would like to send him some stuff , but in googling him I noticed that we have 
the same birthday! May I have his email? 
You are in! Yeay! Lets see what this may mean? improve my numbers and you'll improve your deep 
reading ? 
Sent from my iPhone 
HOUSE OVERSIGHT 023426 
"
IMAGES-003-HOUSE_OVERSIGHT_015332.txt,"red G-string and displaying his naked ass. Satirist Harry Shearer observed
that “The nightmare in Tucson is the inevitable result of a society where a
mentally confused young man can purchase a red G-string anywhere at
any time, and pose with it as he sees fit. Can't we all agree now to lower
the temperature on underwear?”

Speaking of lowering the temperature, in the Pittsburgh Post-
Gazette, editorial cartoonist Rob Rogers depicted the U.S. Civil Discourse
Gun Shop where a customer is asking the clerk: “Do you have anything
versatile enough to go from a campaign breakfast to a protest march to a
Town Hall meeting?” And in the Orlando Sentinal Dana Summers
depicted another gun store featuring semi-automatic 31-clip weapons,
where the clerk is explaining to a customer: “Say you have thirty-one
burglars break into your house.”

On the Monday following the tragic weekend, Jon Stewart was
unable to find anything funny about it. Nor was Stephen Colbert, although
he did present a montage of news clips with various explanations of
Loughner’ s behavior, and the final one, from Fox News— “He is also
being described as a left-wing political pothead” —managed to evoke
laughter from the audience. And Rush Limbaugh called him a “marijuana

junkie.”

HOUSE_OVERSIGHT_015332
"
IMAGES-010-HOUSE_OVERSIGHT_029834.txt,"want to make sure it is fair. Is Mr. Epstein available to speak? Or do you want to offer a comment on this

behalf?

My number is RE and 1m available any time. I also just tried your cell phone.

Thank you in advance.

David Ingram
Correspondent

Reuters News

Thomson Reuters

Office:
Mobile

Reuters.com

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029834
"
IMAGES-008-HOUSE_OVERSIGHT_026065.txt,"THC

TIIC Group backed by Edmond de Rothschild, is a pan-European infrastructure firm advising on mid-market
infrastructure projects across Europe in both the transportation and social sectors. It was established in 2008
by the 3 founding partners of TIIC Group, Jaime d’Almeida, Manuel Cary and Francisco Mendes, with strategic
support from the Edmond de Rothschild Group and Brisa.

The aim of TIIC Group is to bring an operational approach to infrastructure investments in Europe, drawing
upon the extensive management and financial skills of its team members. These skills have been developed
over many years at some of Europe’s leading infrastructure operators and project financing firms which,
when combined with the very specific infrastructure expertise of both the Edmond de Rothschild Group and
Brisa, makes for a powerful and differentiated investment platform.

TIIC Group operates from two offices in Lisbon and Paris, providing its team with access to relevant
investment opportunities across key target markets in Europe as well as to leading industrial contractors,
operators, advisors and financiers in the infrastructure industry.

TIIC Group successfully raised a First Fund with €140m of commitments targeting transportation investments
across Europe. The portfolio of the First Fund comprises 6 assets located in Portugal, Spain, France and
Poland. They represent a carefully balanced mix of greenfield and early stage brownfield projects in roads
and car parks. TIIC Group has played an active role in the sourcing and development of all investments and
has made a significant contribution to value creation. TIIC Group believes that this is a high quality,
operationally secure, cash yielding portfolio of assets which will be of strong interest to potential investors
over the coming few years.

TIIC has launched a successor fund, TIIC 2, which will build upon TIIC Group’ differentiated approach to
infrastructure in Europe. TIIC 2 will is targeting aggregate commitments from investors of €300m (€350m
hard cap) to invest into both transportation and social infrastructure projects in Europe. TIIC 2 will also seek
to invest, ona very selective basis, into greenfield social infrastructure projects in New Frontier Markets,
within close proximity to the European Union. Given its powerful network of relationships across Europe and
the operational skills of its team, TIIC Group will continue to target superior investment returns for TIIC 2’s
portfolio of assets. These returns should be in line with the anticipated returns from the First Fund portfolio
which is forecast to deliver a gross IRR of up to 14% and a multiple of approximately 2x on invested capital.

TIIC announced the first close of TIIC 2 on December 30"" 2016, with aggregate commitments of €135m from
a group of high quality and well-diversified limited partners. First close investors in TIIC 2 include the
European Investment Bank and Edmond de Rothschild, both with significant commitments, as well as the
TIIC team. TIIC 2 is also supported by a number of existing investors, together with several European
insurance companies, pension funds and family offices. A second close is planned in the coming months and
the final close will occur before the end of 2017. We have received significant interest from a number of

HOUSE_OVERSIGHT_026065
"
TEXT-001-HOUSE_OVERSIGHT_031022.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 4/6/2011 10:15:22 PM 
To: Lawrence Krauss 
Subject: Re: Statement in the Daily Beast? 
no it was appreciated. thanks 
On Wed, Apr 6, 2011 at 11:31 PM, Lawrence Krauss H wrote: 
just so you know.. you can read from bottom up.. you may be mad that I was blunt... haven't heard from 
you.. hope all is well.. 
Begin forwarded message: 
From: Rebecca Watson 
Date: April 6, 2011 10:28:36 AM MST 
To: Lawrence Krauss __________________ 
Subject: Re: Statement in the Daily Beast? 
Okay, will do. 
On Wed, Apr 6, 2011 at 1:27 PM, Lawrence Krauss___________________wrote: 
ok.. I just sent an additional email which moderates this.. everyone was a victim, including Jeffrey here.. and 
there was no happy resolution.. please add.. ""probably everyone was a victim, with no happy resolution or 
consequences of these activities"", after ""was the victim in this case."". 
On Apr 6, 2011, at 10:18 AM, Rebecca Watson wrote: 
Okay, thanks for this statement . . . I'll print it in full along with the article, probably today. I very, very 
strongly disagree with your position and hope you eventually reconsider, but I do appreciate you taking the 
time to respond. 
-R 
On Wed, Apr 6, 2011 at 1:15 PM, Lawrence Krauss ________________ wrote: 
jeffrey apparently paid for massages with sex... I believe him when he told me he had no idea the girls were 
underage, and I doubt that people normally are asked for or present a driver's license under such 
circumstances... Moreover, I also believe that Jeffrey is an easy target for those who want to take advantage 
of him... Moreover, I can say with great honesty that Jeffrey's time in prison led him to seriously examine 
his life in very positive ways and I don't believe in blanket condemnations of people. He served time for 
something that was determined was inappropriate. I honestly don't know who was the victim in this case. I 
fully expect that these masseuses knew what they were doing, and were not swayed to do anything with 
Jeffrey that they were not already doing. That is not to approve of the whole behavior, but lots of peopleI 
HOUSE OVERSIGHT 031022 
know and like have behavior I don't entirely approve of. I know it is not politically correct to say that, 
because in general this is a very sensitive issue and all other things being equal one should take the side of 
the young women. But all things are not equal in this case, from my point of view. It is a judgement call, 
and I will not turn my back on a good friend so easily. 
On Apr 6, 2011, at 9:57 AM, Rebecca Watson wrote: 
Thanks for getting back to me. I was asking because I found the quote shocking . . . the evidence against 
Epstein is overwhelming and he's even pled guilty to paying for sex with a minor. It's in no way scientific or 
rational to assume that because you never saw him with an underage girl he must actually be innocent. It is 
possible for a person to be kind and generous with his friends but still a criminal paying for sex with 
underage girls in his private life. 
I'm going to write about the topic on Skepchick, and I'll include any additional statement you'd like if you 
want to provide more context or if you've changed your mind. 
-R 
On Wed, Apr 6, 2011 at 12:50 PM, Lawrence Krauss wrote: 
yes it is.. Based on my direct experience with Jeffrey, which is all I can base my assessment on, he is a 
thoughtful, kind, considerate man who is generous to his friends, and all of the women I have known who 
have been associated with Jeffrey speak glowingly in the same words.. 
why are you asking? 
On Apr 6, 2011, at 9:41 AM, Rebecca Watson wrote: 
Dear Professor Krauss, 
We met briefly after your talk in Ithaca a few months ago — I'm the girl on The Skeptics' Guide to the 
Universe podcast. I've really enjoyed your talks and books, but I was surprised to see you quoted in the 
Daily Beast recently defending Jeffrey Epstein: 
http://www.thedailybeast.com/blogs-and-stories/2011-04-01/bill-clinton-katie-couric-woody-allen-jeffrey-
epsteins-society-friends-close-ranks/2/  
Can you confirm if the following quote is accurate? 
""If anything, the unfortunate period he suffered has caused him to really think about what he wants to do 
with his money and his time, and support knowledge,"" says Krauss. ""Jeffrey has surrounded himself with 
beautiful women and young women but they're not as young as the ones that were claimed. As a scientist I 
always judge things on empirical evidence and he always has women ages 19 to 23 around him, but I've 
never seen anything else, so as a scientist, my presumption is that whatever the problems were I would 
believe him over other people."" Though colleagues have criticized him over his relationship with Epstein, 
Krauss insists, ""I don't feel tarnished in any way by my relationship with Jeffrey; I feel raised by it."" 
Thanks, 
Rebecca Watson 
HOUSE OVERSIGHT 031023 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
PO Box 871404 I Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst 
Origins AssiMill 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
PO Box 871404 I Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst 
Origins Asst 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
P0 Box 871404 I Tem e AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst 
Origins Asst 
HOUSE OVERSIGHT 031024 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
PO Box 871404 I Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst I 
Origins Ass1 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 031025 
"
TEXT-002-HOUSE_OVERSIGHT_032793.txt,"From: Alireza lttihadieh 
Sent: 7/24/2018 8:13:58 PM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Re: 
Importance: High 
I'm not being funny, We got an Offer a few hours ago and we're going to accept it. 
V-BR 
Alireza ITTIHADIEH 
On 24 Jul 2018, at 22:10, jeffrey E. <jeevacation@gmail.com> wrote: 
i thought you were selling it 
On Tue, Jul 24, 2018 at 9:57 PM, Alireza Ittihadieh wrote: 
Let's keep our friendship and talk politics, you are after free information and I NO longer provide free 
information. 
V-BR 
Alireza ITTIHADIEH 
From: jeevacation@gmail.com  
Sent: 24 July 2018 21:54  
To: 
Subject: 
if you can, send me the spec on the bbj, with calendar dates for next few checks. . as you can see trump 
now said he wants a deal with iran. nuts 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
HOUSE OVERSIGHT 032793 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
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HOUSE OVERSIGHT 032794 
"
IMAGES-002-HOUSE_OVERSIGHT_014465.txt,"Marine Le Pen victory could bring into question both the future of the EU and also the
euro, should the polls be close it could make the uncertainty and market moves around
Brexit look like a walk in the park.

2017 —- Reflation, Reversal, Rotation, Relief or Revolt?

2017 is likely to have a number of cross currents as themes. Recovery and Rotation go
hand in hand. The stronger the recovery the more yields can rise the more we can see
the rotation extend. Should investors become concerned that the recovery is stalling or
that yields are peaking the rotation would likely stall potentially even reverse. Reversal
refers to the ECB. Our economists are not yet convinced that the ECB will start to
unravel some of its easing measures in 2017 but they do expect the debate to be a
vigorous one within the ECB. For the first time Gilles Moec thinks there is a chance that
the ECB will indeed choose to taper. Relief or Revolt relates to the French election. Will
Europe follow the UK and US lead of 2016 and go down the route of populism (revolt
from the voters) or will we find relief for the markets if by the end of 2017 froma
Fillon/Merkel duo being in charge of the two largest economies in the Euro Area.

Recovery - the world looks a better place going into 2017
Reflation has been the big theme of the second half of the year. As we had noted in
previous publications there had been something of an improvement in the global growth
picture emerging even before the US election. It started with Emerging Market growth,
which our GEMScycle has been showing to be accelerating for some months, but seems
to have spread to other parts of the developing world. US GDP for Q3 has just printed a
revised 3.2%, with a number of indicators, such as ISM’s, PMI’s and consumer
confidence pointing to a solid Q4 to follow. That quarter is currently tracking at 3.6%
according to the Atlanta Fed.

Chart 13: Eurozone PMI’s have picked up of late... Chart 14: US Consumer Confidence now at post-GFC highs
60.0 120
100
59.0
80
50.0 60
40
45.0 ———US Consumer Confidence...
20
400 —— EA Services PM] =====EA Manufacturing PMI
Aug-09 Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16
Source: Markit Source: Bloomberg

The Euro Area too is showing signs of improvement with the latest manufacturing PMIs
back to their best since early 2014 with other national surveys, such as Ifo pointing in
the same direction. The composite PMI is back close to the year highs too. The UK
numbers continue to surprise on the upside too for the moment. Our economists are
also upbeat on Japan with growth expected to accelerate next year as the fiscal stimulus
kicks in.

Accordingly our economists expect growth to rise from 3% this year to 3.5% in 2017
and 3.8% in 2018. That acceleration in growth is despite a slightly slower US economy
in the first half of the year as a higher USD and interest rates dampen growth before
the fiscal stimulus kicks in. With growth firming and oil prices expected to be higher
inflation is also expected to pick up through 2017 and 2018 to 2.8% and 3%
respectively. At this stage it is worth noting that this is a modest acceleration in both
growth and inflation.

BankofAmerica <2”

6 European Equity Strategy | 01 December 2016 Merrill Lynch

HOUSE_OVERSIGHT_014465
"
IMAGES-005-HOUSE_OVERSIGHT_019347.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_019347
"
TEXT-001-HOUSE_OVERSIGHT_021231.txt,"From: Jeffrey Epstein [jeeyacation@gmail.com] 
Sent: 7/12/2009 11:37:00 AM 
To: Sultan Bin Sulayem [ 
Subject: Re: World economy growth interesting reading 
mandelson is in london 
On Sat, Jul 11, 2009 at 9:15 PM, Sultan Bin Sulayem wrote: 
* 11 Places With a Worse Economy Than USA 
By Rick Newman — Fri Jul 10, 11:50 am ET 
*How to tell when a real recovery begins.? 
By Rick Newman 
*Obama says stimulus plan to kick in later this year. 
Reuters 
11 Places With a Worse Economy Than USA 
By Rick Newman — Fri Jul 10, 11:50 am ET 
When times are tough, one thing that tends to raise the spirits is knowing that somebody else has it worse. And as wretched as the 
U.S. economy seems, its not as bad as in other regions. 
The International Monetary Fund's latest tally of world economic conditions forecasts a 2.6 decline in U.S. economic output for all of 
2009, and anemic growth of 0.8 percent in 2010. That's more optimistic than the IMF's prediction from three months ago, but those 
are still lousy numbers. A weak economy throughout 2010 would mean a bleak employment picture, an agonizingly slow housing 
recovery, and another year or two likely to feel like a recession, whether its technically labeled that or not. 
We should count ourselves lucky, though. The IMF expects at least 11 major parts of the world to have more severe economic 
contractions than the United State this year, including most of western Europe, Japan, Russia, and Mexico. Europe will still be 
stumbling along behind the United States next year, as well. Here are the IMF's projections for economic growth in various parts of 
the world: 
2009. 2010 
China. 	7.5. 	8.5 
India. 	5.4 	6.5 
Middle East 2.0 	3.7 
Africa. 1.8 4.7 
Brazil. -1.3 2.5 
World total -1.4 2.5 
Canada. 	-2.3 	1.6 
U.S. 	-2.6 	0.8 
France. 	-3.0 	0.4 
Spain. 	-4.0 	-0.8 
U.K. 	-4.2 	0.2 
E U. 	-4.7 	-0.1 
HOUSE OVERSIGHT 021231 
E Europe. -5.0 1.0 
Italy. 	-5.1 	-0.1 
Japan. 	-6.0 	1.7 
Germany. 	-6.2 	-0.6 
Russia. 	-6.5 	1.5 
Mexico. 	-7.3 	3.0 
If these projections come true, it means the United States, despite its overspent consumers, wrecked banks, and insolvent auto 
makers, will be leading the world economy out of recession. Somehow. The developing world will help, but those high growth 
projections in China and India can be deceiving. 
China in particular has government policies that practically mandate high growth, and 8.5 percent in 2010 would be just about the 
bare minimum to keep employment at tolerable levels. And neither China nor India is a major buyer of American-made goods and 
services; for the most part, its the other way around. With much of the developed world trailing the United States, it will take 
American consumers to ratchet up demand for the world's products. Scary thought. 
How to tell when a real recovery begins.? 
4 Ways to Tell When a Real Recovery Has Begun 
You could conclude just about anything from the daily cavalcade of economic statistics. Some suggest an imminent recovery. Others 
seem to foretell years of gloom. The bent of the expert interpreting the latest news—bull, bear, Obama-basher, Wall Street-hater—
has as much to do with the outlook as the numbers themselves. 
For the foreseeable future, there will be an aggressive hunt for two economic recoveries. One is the technical improvement in 
economic indicators that signals the economy is growing again. That's the one economists care about, which is why they scour the 
numbers on retail sales, business inventories, purchasing manager sentiment, subatomic inflation, the mood in Shanghai, and 
anything else that could help pinpoint the exact inflection point for a turnaround. 
The other recovery, the one that most consumers are waiting for, is the one in which companies stop firing and start hiring, banks 
return to normal lending, and families stop worrying about jobs and income. And that turnaround—the consumer recovery—is likely 
to take much longer to materialize than the technical recovery. 
The danger of hyping a technical recovery is that it will arrive, with much fanfare—but fail to make ordinary consumers feel better 
off. Many economists, for example, are predicting that the recession will officially end by this summer or fall. The only problem is 
that when a technical recovery begins, a lot of companies fail to get the memo. They don't play along; they keep payrolls lean and 
maybe even continuing to lay off workers. So to guard against false optimism, here's how to tell when a real recovery is finally 
kicking into gear: 
Unemployment improves. The single best indicator of the health of the economy is the job market. People who have lost their job, or 
worry that they might, obviously hoard their money and don't spend. That spells doom for an economy driven by consumer spending, 
as ours is. But once its clear that jobs are coming back, consumers are more likely to relax and open their wallets. 
Projections about unemployment should make anybody queasy about the prospects for a recovery this year. The unemployment rate 
is currently 9.4 percent, a steep rise from one year ago, when it was an unremarkable 5.5 percent. And by most accounts, its going to 
get worse. The International Monetary Fund expects the U.S. unemployment rate to be 10.1 percent in 2010. Economist Gary 
Shilling thinks unemployment will hit 11.4 percent and not peak until late next year. 
Its hard to imagine a ""recovery"" in which jobs are even more scarce than they are now. When the unemployment rate finally starts to 
go in the other direction, we can start to think about putting the umbrellas away. Until then, no number of upticks or volume of 
optimistic talk will persuade Americans worried about their jobs that they should part with precious cash. 
Housing prices stabilize. This has become a mantra by now: For the economy to get healthy, housing prices must stop falling. 
Problem is, the houses haven't been listening. 
Housing matters for two reasons: It represents a big chunk of the economy, and its the largest single repository of Americans' 
household wealth. With prices falling, buyers are scarce, since nobody wants to buy an expensive good today if its going to be worth 
less tomorrow. With few buyers, all the other economic activity that swirls around real estate—remodeling, appliance and furniture 
HOUSE OVERSIGHT 021232 
sales, relocation services—is depressed. Homeowners are worse off, too, because the value of one of their vital assets is eroding. 
House prices have already fallen by 32 percent nationwide from the 2006 peak. And they have further to go. The latest readings on 
the S&P/Case-Schiller home price index, one prominent measure, showed another record decline in May. At some point, the declines 
will moderate and stop being records. But prices need to stop falling altogether, and probably rise, for a real recovery to happen. The 
Federal Reserve thinks home prices could stop falling in 2010, after a total decline of 41 to 48 percent. Other metrics, like housing 
starts and new-home sales, might point upward before then. Those will be signs of signs of a turnaround, not the real thing. 
Household wealth increases. The housing bust and the volatile stock market have hammered the traditional investment tools that 
most Americans use, causing epic declines in the wealth of Americans. Since 2006, household net worth has declined by about $12 
trillion, which equates to about $107,000 of lost wealth for each of America's 112 million households. That's partly because of the 40 
percent plunge in the stock market since October 2007 and partly because of the steep declines in real estate values. 
Americans simply own less, too. Home equity for the typical homeowner is just 41.1 percent, a record low. In 2002, it was 58.4 
percent. Owning less means we owe more and will have to rebuild savings before we can spend like we used to. ""This will be a drag 
on all discretionary purchases,"" says Dirk van Dijk, an analyst at Zacks Investment Research who thinks the tightfistedness will cut 
into the earnings of firms ranging from hotel chains to furniture makers to motorcycle manufacturers. Those are the same kinds of 
companies that need to start hiring again for a real recovery to develop. But they won't if sales stay sluggish. A turnaround will 
require sustained stock market gains and an end to the housing bust. 
President Obama stops fudging on the economy. There's still a lot that could go wrong, and Obama knows it. Yet part of the 
president's job is to reassure skittish Americans, even as his economic lieutenants are fighting battles in the war room. That's why 
Obama has been making half-hearted pronouncements, like saying that the economy shows ""some return to normalcy"" and that ""we 
expect there'll be some stabilization of the economy."" Virtually all of Obama's remarks on the economy contain modifiers and future 
tense and a not-quite-there-yet quality, since hell blow his own credibility if he tries to convince Americans that they're better off 
than they actually are. When Obama starts hedging less, be happy. That will signal better days. Finally. 
The IMF does offer a bit of more heartening news: The global wipe out finally seems to be receding. ""The world economy is 
stabilizing,"" the IMF reports. Its global economic growth projection of 2.5 percent in 2010 is 0.6 points higher than predicted in 
April. But the global economy isn't expected to gain its footing in earnest until the second half of 2010. Maybe by then American 
spenders will have come out of hiding. 
Obama says stimulus plan to kick in later this year Reuters 
Obama says stimulus plan to kick in later this year 
By Tom Doggett — Sat Jul 11, 3:13 pm ET 
WASHINGTON (Reuters) — President Barack Obama said Saturday more time was needed for his $787 billion stimulus package to 
work, predicting the spending would have a bigger impact on the economy later this year. 
In an advanced text of his weekly radio speech, Obama said the stimulus plan approved by Congress and signed into law in mid-
February ""was not designed to work in four months -- it was designed to work over two years."" 
U.S. Treasury Secretary Timothy Geithner said it was too soon to decide whether the U.S. economy needed the help of a second-
round of government stimulus to recover from recession. 
""I don't think that's a judgment we need to make now, can't really make it now prudently, responsibly,"" he said in a taped interview 
with CNN that will air Sunday. 
According to a transcript provided by CNN, Geithner said the ""biggest thrust"" of the stimulus package signed into law earlier this 
year would take effect in the second half of the year. 
Obama's comments follow government data showing the unemployment rate soared to 9.5 percent in June, the highest level since 
1983 and above the 8 percent peak predicted by the White House when it worked with Congress to pass the package. Republicans 
say the stimulus plan is not working. 
Obama now warns unemployment likely will top 10 percent in the coming months. 
""We must let (the stimulus plan) work the way its supposed to, with the understanding that in any recession, unemployment tends to 
recover more slowly than other measures of economic activity,"" Obama said. 
He said the benefits of the plan would ""accelerate greatly throughout the summer and the fall."" 
HOUSE OVERSIGHT 021233 
The continuing recession and further steep job losses are wearing away the patience of Americans and raising doubts about Obama's 
handling of the economy. 
The share of Americans who believe the stimulus package will restore the economy slipped to 52 percent in late June, down from 59 
percent two months earlier, according to a Washington Post-ABC News poll. 
Vice President Joe Biden said the administration had ""misread"" how bad the economy was when it took office but that the stimulus 
package would help the economy recovery and create jobs. 
Senate Republican Leader Mich McConnell Friday called the stimulus plan a failure. 
Obama said it takes time for the plan's money ""to get out the door"" to pay for roads, bridges and other infrastructure projects that will 
create jobs ""because we are committed to spending it in a way that is effective and transparent."" 
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HOUSE OVERSIGHT 021234 
"
IMAGES-006-HOUSE_OVERSIGHT_022169.txt,"James PATTERSON

and his own wife, Kimmie, who was arrested for hiding more
than one million dollars’ worth of jewelry.

All in all, more than thirty people involved in Rothstein's
schemes were arrested and sentenced.

Thanks, in part, to his cooperation with the feds, his was the
only Ponzi scheme in history in which all the victims recovered
their money. In return, Rothstein was put into a witness protec-
tion program and is serving his fifty-year sentence anonymously,

in an undisclosed prison location.

Alan Dershowitz

On November 10, 2015, Alan Dershowitz arrived at Shriver Hall,
on the campus of Johns Hopkins University, in Baltimore, to talk
about the Arab-Israeli conflict.

“The outlines for peace are so obvious,” he said. “There has
to be a two-state solution.”

Fifteen minutes into the talk, a group of women—students
belonging to a group called Hopkins Feminists—stood up in
protest. Dressed all in black, with duct tape over their mouths,
they held up a sign and marched out of the hall.

YOU ARE RAPE CULTURE, the sign read.

Afterward, a reporter for the student paper asked Dershowitz ~
about Jeffrey Epstein and Epstein's victims. Wasn't it true that Der

showitz had implied that one of those victims was “asking for it?”

“Pm a defense attorney,” Dershowitz replied. “I have an obliga- ~
nse to

tion under the Constitution to provide a full and zealous defe

my clients. If 1 have failed to do all the things you had just listed, 1 F

could be disbarred. I could be found incompetent as counsel.”

272

He asked the reporter,
on the websites, look on
woman who was accusing
disprove many of the cha
prove the charges against
rape is a heinous thing to d
person who has been fals
rape victims because it mz
money. Our country, unlik
defended, and I’m going to
ents are guilty or innocent
have been guilty. They dese
else. 'm very proud of wh
don't like the fact that I got

The suits and countersuits
Dershowitz filed against eac
2016— reaching a crescend
the plot to blackmail Les W
involved agreed to settle, i
“Edwards and Cassell acknc
filed sexual misconduct acc1
sexual misconduct accusatic
ing all exhibits) are hereby
draws his accusations t]
unethically. Neither Edward
intention of repeating the

Dershowitz also hired form

; an independent investigatior

HOUSE_OVERSIGHT_022169
"
IMAGES-009-HOUSE_OVERSIGHT_028429.txt,"Collins to get across the line, and if they decided to put their foot on the
accelerator and just hold the vote, that could

backfire.a€"", ""type"": ""text""}, {""identifier"":"" anf-body-

19"",""inlineTextStyles"": [{""range"":{""length"":322,""start"":0},""textStyle"":"" anf-ts-

i""}, {""range™: {""length"":322,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-—
body"", ""role"": ""body"", ""text"": ""a€elf youde€™re President Trump, theread€™s good reasons for

being frustrated by the delay,a€ Mr. Bonjean added, noting that many conservative
activists believe that the Democrats backing Dr. Blasey are playing dA€ea stalling
gamea€ designed to provide time to unearth more allegations against Judge Kavanaugh or

further discredit him."",""type"":""text""},{""bannerType"":""any"", ""Adentifier""<"" anf-

banner advertisement-4"", ""layout"": ""ComponentLayout—

4"",""role"":""banner advertisement"", ""type"":""banner advertisement""}, {""identifier""™:"" anf-
body-20"", ""inlineTextStyles"": [{""range""™:{""length"":136,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range""™:{""length"":136,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"",""text"":""Some of those activists have begun to bristle publicly at

what they regard as Mr. Grassleya€™s weakness in bowing to Dr. Blaseyda€e™s

demands."",""type"":""text""}, {""identifier"":"" anf-body-
21"",""inlineTextStyles"": [{""range""™:{""length"":367,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range™: {""length"":367,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"": ""body"", ""text"": ""a€eThe Republicans need to stop aiding and abetting Chuck
Schumerd€™s extreme delay strategy,a4€ said Penny Nance, the chief executive of
Concerned Women for America, a conservative group, referring to the top Senate
Democrat. a€eThey have been more than fair to Professor Ford, and if they continue to
capitulate to her lawyers, it will cost them in the November

elections.a4€"",""type"":""text""}, {""identifier"":"" anf-body-
22"",""inlineTextStyles"": [{""range""™:{""length"":321,""start"":0},""textStyle"":""_ anf-ts-
i""},{""range™:{""length"":321,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-

body"", ""role"":""body"", ""text"":""Some prominent Republicans have indicated that they plan to
back Mr. Trumpaé€™s nominee regardless of the hearingd€™s outcome. Speaking about Dr.
Blaseyd€™s accusation before the latest charge surfaced on Sunday night, Mr. Graham
said, d4€eUnless thered€™s something more, no, Ia4€™m not going to ruin Judge
Kavanaughae™s life over this.a€"",""type"":""text""}, {""identifier"":"" anf-body-
23"",""inlineTextStyles"": [{""range™:{""length"":503,""start"":0},""textsStyle"":""_ anf-ts-

i""}, {""range""™:{""length"":503,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-—
body"", ""role"":""body"", ""text"":""But if Dr. Blasey comes across as a compelling witness
giving credible and emotional testimony of a traumatic event, Republican senators on
the Judiciary Committee d4€"" all of them men 4€"" run the risk of appearing callous and
chauvinistic by pressing her on details or questioning her account. Democrats are
likely to question Judge Kavanaugh about his drinking habits and social conduct ae""
open-ended questions that people close to him say he plans to avoid answering, but that

will be difficult to deflect."",""type"":""text""}, {""bannerType"":""any"", ""identifier"":"" anf-
banner advertisement-5"", ""layout"": ""ComponentLayout—

4"",""role"":""banner advertisement"", ""type"":""banner advertisement""}, {""identifier""™:"" anf-
body-24"", ""inlineTextStyles"": [{""range""™:{""length"":255,""start"":0},""textStyle"":"" anf-ts-
i""}, {""range™:{""length"":255,""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"", ""text"":""Democrats, too, must be careful not to appear to be

dismissing Judge Kavanaughad€™s account out of hand. Senator Mazie Hirono, Democrat of
Hawaii, drew criticism on Sunday for suggesting that the judge was not credible becaus

of his approach to legal cases."",""type"":""text""}, {""identifier"":"" anf-body-
25"",""inlineTextStyles"": [{""range"":{""length"":202,""start"":0},""textsStyle"":"" anf-ts-
im}, {""range""™:{""Llength"":202, ""start"":0},""textStyle"":"" anf-ts-1""}],""layout"":""default-

body"", ""role"": ""body"", ""text"": ""a€ceHow the Senate handles this and the Senate Republicans
handle this will be a test of this time, of 2018, in the #MeToo movement, 4€ Senator
Patty Murray, Democrat of Washington, said on A€eMeet the

Press.a€"", ""type"": ""text""}, {""identifier"":"" anf-body-

26"",""inlineTextStyles"": [{""range™:{""length"":237,""start"":0},""textsStyle"":"" anf-ts-

i""}, {""range™: {""length"":237,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-
body"", ""role"":""body"", ""text"":""Ms. Murray, who was elected in 1992 after Senate hearings

on Anita F. Hilla€™s sexual harassment allegations against Clarence Thomas, then a
nominee for the Supreme Court, said the question for the Senate this week was: dA€ceCan
we do better?ae"", ""type"": ""text""}, {""components"": [{""identifier"":"" anf-divider-
3"",""layout"":""ComponentLayout-—

9"",""role"":""divider"", ""stroke"": {""color™:""#222222"",""style"": ""solid"", ""width"":""1.0pt""}, ""type""

:""line""}, {""identifier"":"" anf-body-

27"",""inlineTextStyles"": [{""range""™:{""length"":52,""start"":0},""textStyle"":"" anf-ts-
49""},{""range"":{""length"":52,""start"":0},""textStyle"":""_ anf-ts-49""}],""layout""™:""default-
body"", ""role"":""body"", ""text"":""Maggie Haberman contributed reporting from New

HOUSE_OVERSIGHT_028429
"
IMAGES-006-HOUSE_OVERSIGHT_021448.txt,"-~

FD-302a (Rev. 10-6-95)

31E-MM-108062

Continuation of FD-302 of | ,On 02/02/2007 _,Pae 2

ee | main house. According to

the main house has six bedrooms and the Guest House has
three bedrooms. Another individual that would come on a regular
basis to the residence was believed
that EPSTEIN would, on
occasion, bring other guests with him when traveling to Palm Beach.

Signatures on the account were EPSTEIN,

Lo Twas aware that many females would come to
EPSTEIN's residence to provide EPSTEIN with massages.
stated that EPSTEIN would receive one or two massages a day,
sometimes even three. The massage times would be spread throughout

emales providing
with a massage ever appeared upset.

stated that he believed EPSTEINL._ CCidCS

arranged EPSTEIN's appointments for massages
with the females. said some of the females who provided
massages to EPSTEIN would leave messages. Messages were taken on
message pads.

On one occasion, when EPSTEIN

[——~CSC*d Stated that EPSTEIN has a chiropractic table, as
push as. 8 massade as, a massage table. CY

b6
b7Cc

HOUSE OVERSIGHT 021448
"
IMAGES-007-HOUSE_OVERSIGHT_022508.txt,"important ways. Both agencies encourage USS. businesses
to seek the assistance of US embassies when they are con-
fronted with bribe solicitations or other corruption-related
issues overseas.”?

The Department of Commerce offers a num-
ber of important resources for businesses, including the
International Trade Administration’s United States and
Foreign Commercial Service (Commercial Service). The
Commercial Service has export and industry specialists
located in over 100 US. cities and 70 countries who are
available to provide counseling and other assistance to US.
businesses, particularly small and medium-sized companies,
regarding exporting their products and services. Among
other things, these specialists can help a U.S. company con-
duct due diligence when choosing business partners or agents
overseas. The International Company Profile Program, for
instance, can be part of a US. business’ evaluation of poten-
tial overseas business partners. Businesses may contact the
Commercial Service through its website, http://export.gov/
eac/, or directly at its domestic and foreign offices.”

Additionally, che Department of Commerce’s Office
of the General Counsel maintains a website, http://www.
commerce.gov/os/oge/transparency-and-anti-bribery-
initiatives, that contains recent articles and speeches, links
to translations of the FCPA, a catalogue of anti-corruption
resources, and a list of international conventions and ini-
tiatives. The Trade Compliance Center in the Department
of Commerce’s International Trade Administration hosts
a website with anti-bribery resources, http://tcc.export.
gov/Bribery. This website contains an online form through
which U.S. companies can report allegations of foreign
bribery by foreign competitors in international business
transactions.”° The Department of Commerce also pro-
vides information to companies through a number of USS.
and international publications designed to assist firms in
complying with anti-corruption laws. For example, the
Department of Commerce has included a new anti-corrup-
tion section in its Country Commercial Guides, prepared
by market experts at U.S. embassies worldwide, that contains
information on market conditions for more than 100 coun-

tries, including information on the FCPA for exporters.”

Introduction

The Department of Commerce has also published a guide,
Business Ethics: A Manual for Managing a Responsible
Business Enterprise in Emerging Market Economies, which
contains information about corporate compliance pro-
grams for businesses involved in international trade.”

The Departments of Commerce and State also pro-
vide advocacy support, when determined to be in the
national interest, for U.S. companies bidding for foreign
government contracts. The Department of Commerce’s
Advocacy Center, for example, supports US. businesses
competing against foreign companies for international con-
tracts, such as by arranging for the delivery of an advocacy
message by US. government officials or assisting with unan-
ticipated problems such as suspected bribery by a competi-
tor.” The Department of State’s Bureau of Economic and
Business Affairs (specifically, its Office of Commercial and
Business Affairs) similarly assists U.S. firms doing business
overseas by providing advocacy on behalf of US. businesses
and identifying risk areas for U.S. businesses; more infor-
mation is available on its website, http://www.state.gov/e/
eb/cba/. Also, the Department of State’s economic officers
serving overseas provide commercial advocacy and support
for U.S. companies at the many overseas diplomatic posts
where the Commercial Service is not represented.

The Department of State promotes U.S. government
interests in addressing corruption internationally through
country-to-country diplomatic engagement; development
of and follow-through on international commitments relat-
ing to corruption; promotion of high-level political engage-
ment (e.g. the G20 Anticorruption Action Plan); public
outreach in foreign countries; and support for building
the capacity of foreign partners to combat corruption. In
fiscal year 2009, the U.S. government provided more than
$1 billion for anti-corruption and related good governance

assistance abroad.

HOUSE_OVERSIGHT_022508

"
IMAGES-011-HOUSE_OVERSIGHT_030904.txt,"From: Lawrence Krauss

Sent: 4/6/2011 10:58:21 PM

To: Jeffrey Epstein [jeevacation@gmail.com]

CC: Lawrence Krauss
Subject: Re: Statement in the Daily Beast?

Importance: — High
people are now throwing out my books, according to her blog.. more nonsense..

On Apr 6, 2011, at 3:56 PM, Jeffrey Epstein wrote:

what evidence? no real sex.. where is she getting her so called facts

On Thu, Apr 7, 2011 at 12:18 AM, Lawrence Krauss i wrote:

Beyond anything else, you are my friend. I hope we can both always remember that, no matter what.

Are you coming this weekend at all?

Lawrence Krauss

Foundation Professor

School of Earth and Space Exploration and Physics Dept.
Co-director, Cosmology Initiative

and Director, Origins initiative

Arizona State University

Sent from my iPhone

On Apr 6, 2011, at 3:15 PM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

no it was appreciated. thanks

On Wed, Apr 6, 2011 at 11:31 PM, Lawrence Krauss _R wrote:

Just so you know.. you can read from bottom up.. you may be mad that I was blunt...

you.. hope all is well..

Begin forwarded message:

From: Rebecca Watson
Date: April 6, 2011 10:28:36 AM MST
To: Lawrence Krauss iy

Subject: Re: Statement in the Daily Beast?

Okay, will do.

On Wed, Apr 6, 2011 at 1:27 PM, Lawrence Krauss TE w cote:

haven't heard from

HOUSE_OVERSIGHT_030904
"
IMAGES-007-HOUSE_OVERSIGHT_023616.txt,"Date: Monday, January 6 2014 12:29 PM
Subject: Re: Larry Summers

From: Kelly Friend} [ar

To: Jeffrey Epstein <jeevacation@gmail.com>;

Cc: Andrew Friendly (i iis >;

Andrew and Caroline would love to come see the island! I've cced him to work out the details....
Happy New Year!

Sent from my iPhone

On Jan 6, 2014, at 5:58 AM, ""Jeffrey Epstein"" <jeevacation@gmail.com > wrote:

glad it worked out. if you husband woudl like to see the island this week i will arrange it.

On Sun, Jan 5, 2014 at 9:40 PM, Kelly Friendly {> wrote:

Mr. Epstein:

Many, many thanks for your overwhelming generosity. MB 2c | flew home today with Mr.

Farkas and his family. They took very good care of us and they couldn't have been nicer. Andrew and
are still stuck in St. Thomas, enjoying the use of your car.

We are extremely grateful for everything you have done for us.

Happy New Year and hope to see you next time you are at Harvard.

Fondly,
Kelly Friendly

On Jan 4, 2014, at 1:06 PM, ""Jeffrey Epstein"" <jeevacation@gmail.com > wrote:

glad to help

On Sat, Jan 4, 2014 at 1:05 PM, Kelly Friendly <q wrote:

Ann brought us the car. It's wonderful, thank you so much.

We are so grateful for your generosity...

= F —_

Sent from my iPhone
On Jan 4, 2014, at 12:21 PM, ""Jeffrey Epstein"" <jeevacation@gmail.com> wrote:

you will get a call from either jermain, or cecile ( the governors wife and my asst )

HOUSE_OVERSIGHT_023616
"
IMAGES-008-HOUSE_OVERSIGHT_025544.txt,"the attorneys went to outside counsel Kendall Coffey, and asked whether or not they
could buy the book for the $50,000 that the houseman had asked for it. THREE
months later, the FBI and the same AUSA that had headed my prosecution set up my
houseman in a sting. It appears that while using a lawyer from the RRA firm, Brad
Edwards, as a confidential informant for the government at the same time that Scott
Rothstein was using me and the allegations against me to fleece his victims, the US
attorneys’ office was sitting in the Rothstein offices planning a sting operation, while
right next door, Scott Rothstein was making off to Morocco in an attempt to flee the
country. Alfredo Rodriguez was prosecuted by the same AUSA and received an 18-
month sentence; however, it also appeared that on the very same day of his sting
arrest, he bought an illegal gun, and was later sentenced to four years in prison.
Who Cara Holmes is, and what her role was in RRA is still a mystery to us. She
appears to be a former FBI agent out of the Chicago office. She joined the Rothstein
firm in May of 2009, and joined the Florida Bar at the same time. She attended
depositions of my pilots and my houseman. She communicated regularly with Brad
Edwards and the investigators on my case. The email traffic is extensive.

The telephone book that sy Rodriguez had stolen from my house was then
turned over(by the government?) to the same attorneys who had been told they
could not buy it as s they would have been buying stolen property. Brad Edwards, the
former partner of Scott Rothstein, then used the purloined book to send out letters
to everyone in the book, asking for additional stories of my wrongdoing in the past
five years with the hopes of getting new clients. The letter was structured so as to
circumvent the ethical rules regarding trolling for clients.

While I was serving my sentence, my lawyers were able to come see me in jail. Only
two months after being incarcerated, my in house lawyer came to see me to tell me
that we were now conducting an audit of legal fees paid to date. They had
discovered that Gerald Lefcourt, my primary attorney, had taken out cash to
the tune of $800,000, that according to his own accountant, he was not entitled to.
He had simply prepared invoices that said, “Please pay another $100,000 or
$200,000”. Though he had been asked on multiple occasions to substantiate the
bills, his response would be, “We are working full time for you”. I pointed out that
his was not the only firm working for me, but he replied, “Would you like me to
quit?” He eventually returned over $400,000 over a period of time, as he said that
his cash flow could not handle the strain. He said that he was still owed for things
like taxi fair, coffee and doughnuts, detailed for $2.53, and would keep $400,000.

I was told that I should hire Guy Lewis, a former US Attorney in the Southern
District. Lewis, a southern style gentleman; white suits, fast cars; said he had a great
relationship with the current US Attorney, Alex Acosta, and the people in
Washington that would potentially need to review what ever happened in South
Florida. He wanted a $100,000 per month retainer, and with this, his partner Mike

HOUSE_OVERSIGHT_025544
"
IMAGES-004-HOUSE_OVERSIGHT_018438.txt,"THE 3S&M
FEMINIST

«

1
t

4
$b
4
i

HOUSE_OVERSIGHT_018438
"
IMAGES-001-HOUSE_OVERSIGHT_012284.txt,"uo oN OH WH BP WwW NY

NN NN NN BP BP BP BBP BP Pp Bp Bp
wi BP WN FP GO Oo FN DU HR WwW NY FH CO

Q
A
Q.
A
Q

2007-04-25 | i

You have a cell phone or --
And home phone?
only cell.

Only cell, okay. Now have you had other cell

phone numbers in the past and do you know any of those?

A.
Q.
A.
Q.

f that's the only one I can remember.

Okay. But you had some others?
uh-huh.
Okay.

BY MS. BILAFONIA:

Oo P ©

>

who's your service provider?
Metro.
Metro. And for that other number as well?

Yes.

BY AGENT RICHARDS:

Q.
A.
Q.
A.
Q.
remember?
A.
Q.

Where did you go to high school?

And what year did you graduate?

What year was that that you dropped out, do you

No.

what year were you supposed to graduate, your

Page 3

HOUSE_OVERSIGHT_012284
"
IMAGES-007-HOUSE_OVERSIGHT_024179.txt,"PROGRAMME FOR THE PRESIDENT AND FIRST LADY FOR
THE 67"" UNITED NATIONS GENERAL ASSEMBLY
22-29 SEPTEMBER

NEW YORK
Saturday, 22 September 2012
02.15 PM: President Arrives In JFK
fe) Flight # EK 201
° Composition of the motorcade.

o Car 1: President + First Lady
o Car 2: PR + Counsellor Javed

° Departs to Helmsley Hotel, 42"" street between 2"" and 3""
Ave
08.00 PM — 10:30 PM: Private Dinner
° Helmsley Hotel
Sunday, 23 September 2012
08:00 AM — 09:00 AM: Breakfast with Maldivian Delegates
° Helmsley Hotel
12:30 PM — 01:30 PM: Private Lunch
° Helmsley Hotel
02.10 PM — 2.25 PM: Bilateral with the Secretary- General.
° Location: 3"" Floor NLB, UNHO (Walking distance)
° President+ Foreign Minister + State Minister + AG+ PR+
Aliny
08.00 PM — 10:30 PM: Private Dinner Event — Jeffrey Epstine
° Composition of the motorcade.

o Lead car: President

Monday, 24 September 2012

8:00 AM — 9:30 AM: Breakfast with Maldivian Delegates
fo) Helmsley Hotel
10.00 AM — 05.00 PM: High Level Segment on Rule of Law
° Location: UN Headquarters. (Walking distance)
° 20"" speaker, apprx 11.40 am
° President+ Foreign Minister + State Minister + AG+
Ambassador Rasheed +PR
12:30 PM — 01:30 PM: Private Lunch

HOUSE_OVERSIGHT_024179
"
IMAGES-008-HOUSE_OVERSIGHT_024882.txt,"COWEN
COLLABORATIVE INSIGHTS

Figure 110 Prime Member Purchaser % By Vertical, 1918-4018

February 25, 2019

Figure 109 Share Of U.S. eCommerce Sales '13 vs. ‘18E vs. ‘23E

Office Equip/Supplies
Garden Equip/Supplies
Toys

Sporting Goods

Other

100%

90%

80% Media

Auto
70%
Food & Bev
60%
Furniture & Home Furnishings

50%

40% Consumables
a

y
30% Electronics & Appliances

20%

10% Clothing & Accessories
6

0%
2013 2018E 2023E

Source: Cowen and Company; U.S. Census Bureau

Analyzing Two Key Verticals for CBD Adoption

As part of our monthly survey of 2,500 US consumers, we ask Amazon.com purchasers
to indicate which categories (out of a list of 30) they purchased on Amazon in the past
30 days. Our data shows that Personal Care Products and Vitamins & Supplements were
more likely to be purchased (vs. the average across all categories) by both Prime and
Non-Prime members throughout 2018.

Taking a closer look at 4018, in each month (on average) 19% of all Amazon Prime
Purchasers bought at least one personal care product and 15% purchased a Vitamin or
Supplement, while the average purchase rate across all 30+ categories was only 12% of
Prime purchasers. We noted a similar trend among Non-Prime Purchasers in 4Q18, with
13% who bought Personal Care Products and 10% who bought Vitamin or Supplements,
compared to the average purchase rate across all categories of 8%.

Figure 111 Non-Prime Purchaser % By Vertical, 1018-4Q18

25% 23%

21%

20%

15%

10%

5%

0%

22%

16%

1018

Personal Care Products mi Vitamins & Supplements

Source: Cowen proprietary Consumer Internet Survey, n=~2500, Dec ‘18

66

19% 14% a 12% 1 a
12% 11%
10%
8% 7%
6%
A%
2%
0%
4Q18 1918 2Q18 3Q18 4Q18
Average Across All Categories Personal Care Products mVitamins &Supplements DAverage Across All Categories
Source: Cowen proprietary Consumer Internet Survey, n=~2500, Dec ‘18

COWEN.COM

HOUSE_OVERSIGHT_024882
"
IMAGES-006-HOUSE_OVERSIGHT_020756.txt,"#33

HOUSE_OVERSIGHT_020756
"
TEXT-002-HOUSE_OVERSIGHT_032963.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 2/8/2017 12:37:31 AM 
To: paul krassner 
Subject: Re: P.S. 
Importance: High 
he can only be impeached for high crimes and misdemeanors. not oath breaking. . impeachment not likely 
, but eventual resignation, a possiblitiy - maybe after a period of time. not for a while. . 
money - its a privlege to help 
On Tue, Feb 7, 2017 at 8:34 PM, paul krassner < > wrote: 
I neglected to mention the importance of ACLU attorneys who have been receiving donations of many millions 
to aid their actions such as impeaching Trump based on breaking his oath of the affirmation of the 
constitution... 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032963 
"
IMAGES-010-HOUSE_OVERSIGHT_030395.txt,"Landon Thomas, Jr.
Financial Reporter
New York Times

http://topics.nytimes.com/top/ reference/timestopics/people/ t/landon_jr_thomas/index.html

please note

The information contained in this communication 1s
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030395
"
IMAGES-001-HOUSE_OVERSIGHT_011955.txt,"Epstein, .....reportedly gave

""millions"" to start MC2, which opened in October 2005 with offices in

New York, Miami and Tel Aviv. One of the girls Epstein, 54, was accused of
soliciting massages from was described in court documents as being just 14.

""E equals MC squared .. . get it,

like the equation? E equals Epstein. He just thinks everyone is too dumb to
figure it out,"" said a model industry insider. ""He’s a desperate old

man that fantasizes and takes advantage of young girls.""

""Jeffrey Epstein has no ownership or involvement in our company and never has. Jean-Luc
Brunel and | are the only two partners and owners of MC2 Model Management,"" [Jeffrey] Fuller
said. [MC2 President]

44

HOUSE_OVERSIGHT_011955
"
IMAGES-006-HOUSE_OVERSIGHT_022141.txt,"CHAPTER 64

Declaration of Virginia Roberts Giuffre, filed on

January 19, 2015 by attorneys representing Jeffrey
Epstein’s victims (continued)

20. Harvard law professor Alan Dershowitz was around
Epstein frequently. Dershowitz was so comfortable with the
sex [that] was going on that on one occasion he observed me
in sexual activity with Epstein.

21. [had sexual intercourse with Dershowitz at least six
times. The first time was when I was about 16, early on in
my servitude to Epstein, and it continued until I was 19.

22. The first time we had sex took place in New York in
Epstein’s home. It was in Epstein’s room (not the massage
room). I was approximately sixteen years old at the time. I
called Dershowitz “Alan.” I knew he was a famous professor.

23. The second time that I had sex with Dershowitz was

at Epstein’s house in Palm Beach.

244

24. I also had sex
Ranch in New Mexico ;
pool area, which was st

25. We also had se
U.S. Virgin Islands.

26. Another sexual ;
itz happened on Epstein
on the plane with us.

27. I have recently :
calling me a “liar.” He j
with me. The man I’ve s¢

mer law professor, is th
least six times. Dershow
with other underage gir
but he is lying and denyin

28. After years of ab
look for a way to escape. |
hold because I wanted to]
taken me into his clutches
some time I believed him.
trol, regardless of my doul

29. I kept asking Eps
education. Epstein finally
to go to Chiang Mai to le
like my chance to escape.
bags for good. I knew this
break away.

30. On September 27, 2
to Chiang Mai, Thailand. I

_ My training. But Epstein w

HOUSE_OVERSIGHT_022141
"
IMAGES-002-HOUSE_OVERSIGHT_013322.txt,"on her thong panties. Epstein then instructed S.G to give him a massage. As S.G gave Epstein a
massage, Epstein tured around and masturbated. S.G. was so disgusted, she did not say
anything; Epstein told her she “had a really hot body.” Jd. at 14. In the report, S.G. admitted
seeing Jeffrey Epstein’s penis and stated she thought Epstein was on steroids because he was a
“really built guy and his wee wee was very tiny.” Jd. at 15.

: 4. The exact number of minor girls who Epstein assaulted is known only to Epstein.
Fobeven, Edwards had a good faith basis to believe and did in fact believe that Epstein’s victims
were substantially more than forty (40) in number. In addition to the deposition excerpts from ~
two of his many victims above about the number of underage girls brought to Epstein and the
Palm Beach incident report, there is overwhelming proof that the number of underage girls
caglested by Epstein through his scheme was in the hundreds. See Complaint, Jane Doe 102 v.
Epstein, (hereinafter Jane Doe 102 complaint) (Exhibit “B”); see also Deposition of Jeffrey
Epstein, April 14, 2010, at 442, 443, and 444 (Epstein invoking the Sth on questions about his
daily abuse and molestation of children) (Deposition Attachment #6).

, Bis At all relevant times Edwards has had a good faith basis to believe and did in fact
believe that Epstein and his attorneys knew of the seriousness of the criminal investigation
— him and corresponded constantly with the United States Attorney’s Office in an attempt
to avoid the filing of numerous federal felony offenses, which effort was successful. See
Correspondence from U.S. Attorney’s Office to Epstein (hereinafter “U.S. Attorney’s
Correspondence”) (Composite Exhibit “C) (provided in discovery during the Jane Doe v. Epstein

case).

HOUSE_OVERSIGHT_013322
"
IMAGES-001-HOUSE_OVERSIGHT_010493.txt,"Sarah (formerly Kellen/
Kensington) and husband,
NASCAR driver Brian Vickers,
arrive on the red carpet at the 141st

running of the Kentucky Derby |
at Churchill Downs in Louisville, | ;
Kentucky. (Jeff Moreland / Icon | The j

guests a’
ture ofa

KE Sportswire via AP Images) Mort Zu
Microso:
~~. Goad, flight!< among
Ne Peery al several c
oo ee ius | scientist
She'd ha
Nadia Marcinkova and Larry with Var
Visoski, Epstein’s personal informat
pilot, in what appears to be
the cockpit of a Gulfstream to form |
G-Il (YouTube) Inth
Wha
artist, hi
Michael and Janet Reiter at the Palm swipe hi
Beach Police Foundation Policemen's ter saw a
Ball at Mar-a-Lago, January
2012 (Debbie Schatz / Palm Beach The
Daily News / ZUMAPRESS.com) It wa
his office

Epstein «
nal char
include

when he

Retired Palm Beach police
detective Joe Recarey, She'd

November 2013 (Meghan one of he

‘On dock

McCarthy / Palm Beach Daily
News / ZUMAPRESS.com) ©

HOUSE_OVERSIGHT_010493
"
IMAGES-002-HOUSE_OVERSIGHT_013444.txt,"An androgynous driver named Monica greeted me at the airport in a black tuxedo that would make
Albert Nobbs weep for joy, prompting me to devilishly think of her as ""Nobbs"" all weekend. She barely
recognized me sporting a new Sally Hershberger hairdo, ""the yenta with the dragon tattoo.""

Checking into the Beverly Hills Hotel | bumped into best actress nominee, Golden Globe and Spirit
Award winner Michelle Williams with her daughter Matilda Ledger headed to the swimming pool.
Innocently standing there with no makeup she was remarkably the antithesis of Marilyn Monroe. | told
her she so deserved the Oscar for her mesmerizing transformation which did not cheer her up knowing
the gold was going to Viola or Meryl.

This year there seemed to be more parties than ever. Vanity Fair publisher Edward Menicheschi staged
a staggering six nights of “CAMPAIGN HOLLYWOOD.” Ermenegildo Zenga and Colin and Livia Firth
hosted an intimate dinner at the Chateau Marmont to benefit Oxfam America, Colin’s pet charity. Editor
Graydon Carter and Edward greeted Cameron Diaz, Kristin Davis, Gary and Alexandra Oldman, Mia
Wasikowska. In addition, Livia spoke about her 'Green Carpet Challenge’ which uses eco-friendly fabrics
for “wear it once” gowns at awards shows. Get it? Go green on red.

It was a busy night at the Chateau as French billionaire investor Nicolas Berggruen hosted his party for
young, leggy, breathtakingly beautiful models. Lindsay Lohan was on the loose after a judge having
announced she was making great progress. She showed up sober wearing a new face bloated with
injectable Restalyne that could only be preparation to portray Elizabeth Taylor in ""Liz and Dick"", her film
for Lifetime. Peter Brant and Stephanie Seymour and Peter Morton and Linda Evangelista joined Josh
Harnett and Emile Hirsh under the terrace heaters. The boys were looking for love in all the right places.

Thursday, February 23

Thursday night boasted fifteen events causing party panic. Here is a brief rundown of seven.

With ballots in, competing sudias cordially |
Gren Wilson slipped in the back door and hung w Michae een and aredicer Letty A Aronson.
Producers Kathy Kennedy and Frank Marshall chatted with DreamWorks
Mortimer. Fox's Tom Rothman and Jim Gianopulos compared notes
with Focus's James Shamus Drake Doremus (""Like Crazy""), Sean Durkin (""Martha
Marcy May Marlene"") and Oscar nominee and Spirit Award winner J.C. Chandor (""Margin Call"") drank at
Breakout directors Nick Jarecki (""Arbitrage""), Zal Batmanglij (""Sound of My Voice and ""The
East"") and Jay Duplass (""Jeff Who Lives at Home"") dreamed about their future nominations
Sorkin, Piers Morgan and Lawrence O'Donnell handicapped Romney vs.
sashayed by.

Decker

Urs Fisher's exhibition Beds & Problem Paintings featured two bed sculptures at Larry Gagosian's Gallery
followed by his private dinner at Mr. Chow's. Art lovers Vera Wang, Russell Simmons, Steve Martin, Jean
Pigozzi and John Waters attended.

The US-Ireland Alliance honored nominees ""Hugo"" screenwriter John Logan, ""Bridesmaids"" star Melissa

McCarthy and Michelle Williams at Bad Robot. Logan also wrote ""Rango” ""Coriolanus"", 007’s ""Skyfall""
and ""Jersey Boys"" for the big screen.

HOUSE_OVERSIGHT_013444
"
IMAGES-005-HOUSE_OVERSIGHT_019409.txt,"From: Jay Lefkowitz S|

Sent: 3/8/2011 4:41:04 PM
To: Michael S. Sitrick [i «Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fw: Alexandra Wolfe called from Newsweek

Importance: — High

----- Original Message -----
From: Kristin Andersen

Sent: 03/08/2011 11:09 AM EST
To: Jay Lefkowitz

----- Forwarded by Kristin Andersen/New
York/Kirkland-Ellis on 03/08/2011 11:05 AM -----

“wolfe,
Alexandra

To
“Jay Lefkowitz""

cc
03/07/201 Subject
1 02:09 RE:

PM

Dear Mr. Lefkowitz,

Here are the questions I'd like to ask Jeffrey Epstein.
would he be available to answer any of these on the
phone or by email? People have told me some of his
thoughts on background but I wanted to see if he could
tell me or email me anything directly I could use on
the record. Also I'd like to run the information I
already have by you or him.

Thank you,
Alexandra

-what is he chiefly focusing on now? Is he spending
more time on The Jeffrey Epstein Science Foundation?
Could he talk about his interest in science and the
2011 grants/conference?

-How has his business been affected? Is there any new
direction he's taking it? Does he still have the same
clients or new ones? Is it still at $15 billion?

-Did he still work while in prison? How was that
arranged? with whom was he working/advising?

-where is he spending his time now? How has his social
life changed from three years ago?

-Is he still close with Ghislaine Maxwell?

-what were friends/colleagues/acquaintances reactions
to his conviction?

-what does he think about the sentence he got- was it

HOUSE_OVERSIGHT_019409
"
TEXT-001-HOUSE_OVERSIGHT_026210.txt,"From: 
Sent: 9/26/2017 7:28:46 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
women to drive in saudi .. bold move 
Sent from my iPhone 
On Sep 24, 2017, at 1:48 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
get some rest. I need you healthy 
On Sun, Sep 24, 2017 at 6:46 AM, <_____________________> wrote: 
enjoy it sheik jeffreyi 
Sent from my iPhone 
On Sep 24, 2017, at 1:32 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
perfect. I 11 be in paris oct 6 
On Sun, Sep 24, 2017 at 6:31 AM, < - wrote: 
00 
i didnt get a good rest this month.. i think it is better to meet him in kuwait .. man do you love cuba that 
much° 
whenever you want .. november or before .. just send me an email and i will take care of your visit 
Sent from my iPhone 
On Sep 24, 2017, at 1:22 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
why are you up so early.? you need rest. - ! , I wanted you to know that If you think I should meet your 
boss in New York , where there is less pomp I can do so. / are you having fun? 
On Sun, Sep 24, 2017 at 4:20 AM, < wrote: 
i didnt understand what you mean? do you want me to stay? or you want to see my boss? 
Sent from my iPhone 
On Sep 24, 2017, at 8:35 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
If you think wise I could come to New York sunday evening and also leave tues 
On Sat, Sep 23, 2017 at 9:38 PM > wrote: 
i got to ny today.. i hope you are having good time, as for my boss he is leaving tuesday i m travelling 
back to europe tomorrow, if not, monday for sure. lets hope that we see you next in kuwait 
Sent from my iPhone 
HOUSE OVERSIGHT 026210 
On Sep 22, 2017, at 6:27 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
how long will you stay in new york how long will the old man be there? 
On Fri, Sep 22, 2017 at 11:15 AM, < > wrote: 
that is nice of you .. you keep hosting us .. we need to see you in kuwait.. 
will write more once i arrive and see my dear old man sunday 
Sent from my iPhone 
On Sep 22, 2017, at 2:38 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
i dont know your plans but of course you are always invited to visit. florida. if i am here 
On Thu, Sep 21, 2017 at 10:43 PM, < > wrote: 
very well .. safe travel 
Sent from my iPhone 
On Sep 22, 2017, at 1:14 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
i will return to new york wednesday or tues day night. . 
On Thu, Sep 21, 2017 at 5:56 PM, < wrote: 
enjoy i 
Sent from my iPhone 
On Sep 21, 2017, at 11:36 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
in florida, 
> 
On Thu, Sep 21, 2017 at 3:23 PM, < > wrote: 
hey shiek.. i will be in new york saturday for a day trip .. i can drop by to say hello saturday night.. if 
you bussy dont worry, we can meet in kuwait in nov inshalla 
Sent from my iPhone 
On Sep 21, 2017, at 1:35 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
only you please 
On Wed, Sep 20, 2017 at 6:26 PM, < 
thnx jeff.. i m praying44 
> wrote: 
Sent from my iPhone 
On Sep 21, 2017, at 1:17 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
the book worked. :) 
HOUSE OVERSIGHT 026211 
On Wed, Sep 20, 2017 at 5:57 PM, < > wrote: 
only for you .. trump is on the phone today.. it is possible any minute that all parties will be on one 
table in new york including my dear old man to put an end to this 
Sent from my iPhone 
On Sep 20, 2017, at 11:51 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
Im certain you understand - I'm sure you will have a great new year . No need to respond 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
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HOUSE OVERSIGHT 026212 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
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the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
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communication in error, please notify us immediately by 
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please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
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the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
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The information contained in this communication is 
confidential, may be attorney-client privileged, may 
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the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 026213 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
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destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
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destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
HOUSE OVERSIGHT 026214 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 026215 
"
IMAGES-002-HOUSE_OVERSIGHT_012982.txt,"66 4 Brief Survey of Cognitive Architectures

seem remotely capable of giving rise to such phenomena. It seems to us that the creation o
a successful emergentist AGI will have to wait for either a detailed understanding of how the
brain gives rise to abstract thought, or a much more thorough mathematical understanding o
the dynamics of complex self-organizing systems.

The concept of cognitive synergy is more relevant to emergentist than to symbolic archi-
tectures. In a complex emergentist architecture with multiple specialized components, much o
the emergence is expected to arise via synergy between different richly interacting components.
Symbolic systems, at least in the forms currently seen in the literature, seem less likely to give
rise to cognitive synergy as their dynamics tend to be simpler. And hybrid systems, as we shal
see, are somewhat diverse in this regard: some rely heavily on cognitive synergies and others
consist of more loosely coupled components.

We now review the DeSTIN emergentist architecture in more detail, and then turn to the
developmental robotics architectures.

4.3.1 DeSTIN: A Deep Reinforcement Learning Approach to AGI

The DeSTIN architecture, created by Itamar Arel and his colleagues, addresses the problem
of general intelligence using hierarchical spatiotemporal networks designed to enable scalable
perception, state inference and reinforcement-learning-guided action in real-world environments.
DeSTIN has been developed with the plan of gradually extending it into a complete system for
humanoid robot control, founded on the same qualitative information-processing principles as
the human brain (though without striving for detailed biological realism). However, the practical
work with DeSTIN to date has focused on visual and auditory processing; and in the context of
the present proposal, the intention is to utilize DeSTIN for perception and actuation oriented
processing, hybridizing it with CogPrime which will handle abstract cognition and language.
Here we will discuss DeSTIN primarily in the perception context, only briefly mentioning the
application to actuation which is conceptually similar.

In DeSTIN (see Figure 4.4), perception is carried out by a deep spatiotemporal inference
network, which is connected to a similarly architected critic network that provides feedback on
the inference network’s performance, and an action network that controls actuators based on the
activity in the inference network (Figure 4.5 depicts a standard action hierarchy, of which the
hierarchy in DeSTIN is an example). The nodes in these networks perform probabilistic pattern
recognition according to algorithms to be described below; and the nodes in each of the networks
may receive states of nodes in the other networks as inputs, providing rich interconnectivity
and synergetic dynamics.

4.3.1.1 Deep versus Shallow Learning for Perceptual Data Processing

The most critical feature of DeSTIN is its uniquely robust approach to modeling the world
based on perceptual data. Mimicking the efficiency and robustness by which the human brain
analyzes and represents information has been a core challenge in AI research for decades. For
instance, humans are exposed to massive amounts of visual and auditory data every second
of every day, and are somehow able to capture critical aspects of it in a way that allows for
appropriate future recollection and action selection. For decades, it has been known that the

HOUSE_OVERSIGHT_012982
"
TEXT-001-HOUSE_OVERSIGHT_030472.txt,"From: 
Sent: 3/8/2011 9:34:45 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Privileged - Redacted 
From: Jeffrey Epstein <jeevaeation@gmail.com> 
Date: Tue, 8 Mar 2011 12:40:36 -0800 
To: Martin Weinberg<__________________ 
Subject: 
Jeffrey and Ghislaine: Notes on New York's Oddest Alliance 
<http://www.vani-tyfair.com/online/daily/2on/o3/notes-on-
new-yorks-oddest-couple-jeffrey-epstein-and-ghislaine-
maxwell.html> 
by Vicky Ward <http://www.vanityfair.com/contributors/vicky-ward> 
March 8, 2011, 2:30 PM 
""I've got a story idea for you. The rebuilding of Indonesia. Or New Orleans. Or both. Go there. I've just been. 
You will never think the same way about anything again."" 
So spoke not Bill or Melinda Gates, but Ghislaine Maxwell, the 48-year-old woman being written up 
everywhere at the moment as the alleged ""procurer"" of young women for billionaire Jeffrey Epstein. 
Epstein, 57, is the financier who spent a year in jail on charges of soliciting prostitutes—and now there is talk of 
another investigation because various women, now in their twenties and thirties, have come forward with 
allegations that he molested them when they were under-age. The allegations first surfaced in British 
newspapers, which have zeroed in on Epstein's friendship with Prince Andrew, who has recently tried to 
publicly disassociate himself from his old pal. 
I wrote a piece for Vanity Fair in 2003 called ""The Talented Mr. Epstein."" It was largely a business piece that 
focused on his mysterious exit from Bear Stearns in 1981, his close relationships with Jimmy Cayne, Les 
Wexner, the chairman of Limited Brands, and above all, the man who claimed to be his mentor, Steven Jude 
Hoffenberg, who is currently serving a 20-year-jail sentence for bilking investors in Towers Financial out of 
$450 million. 
The piece alluded to Epstein's great friendship with Maxwell, and how she introduced him to young women 
with whom he had sexual relationships. But, in the end, the story didn't really go there, focusing instead on the 
issue that remains a mystery—how Jeffrey made his money, and how Ghislaine made hers. 
This is not to say I didn't hear stories about the girls. I did. But, not knowing quite who to believe, I 
concentrated on the intriguing financial mystery instead. But now the women have come back. Not the same 
ones, different ones. And their stories are bone-chilling. Journalists from England have phoned—and, in one 
case, flown—to ask me about Epstein and Maxwell. Who is he? And the British, especially, want to know: Who 
is she? At this point, I am so bored of repeating myself to others—it was, after all, my 2003 Vanity Fairstory 
that really brought him into the limelight—that I have decided to write about this myself. 
Bizarrely, perhaps, I have gotten to know Jeffrey and Ghislaine far better after my piece than before it. I kept 
running into both of them, separately, at parties. Jeffrey is not a social animal so he usually has a couple of 
young women with him who stand two feet behind him, as if serving a monarch. ""Do they speak?"" I remember 
asking him once, nodding at his lookalike blondes. He laughed. ""Not like you,Vicky,"" was his riposte. 
HOUSE OVERSIGHT 030472 
I remembered that when we'd once discussed math—in particular, an isosceles triangle—and I revealed I hadn't 
studied math since I was 14 (such is, or was, the way of the British educational system), I received a package at 
home via messenger. It was a book: ""Math for idiots."" 
So he is not without humor, even though he doesn't drink or smoke, and hates restaurants. 
""Jeffrey knows a good deal about most subjects,"" newspaper publisher Mort Zuckerman told me last week. He 
was certainly preaching to the converted. The truth is, Epstein does know a lot about a lot of things. Just a few 
moments in his company and you know this to be true. 
When I saw pictures of Prince Andrew walking in Central Park with Jeffrey, my immediate thought was that 
""Andy""—as Jeffrey calls him—is probably asking for help with his role as British trade envoy, or whatever his 
strange title is. Because if one thing's for sure: When it comes to international business, Jeffrey knows what 
he's talking about far more than ""Andy"" does. Which is why Leon Black, Mort Zuckerman and a few other 
financiers hang out with him. 
And Ghislaine? 
Full disclosure: I like her. Most people in New York do. It's almost impossible not to. 
She is always the most interesting, the most vivacious, the most unusual person in any room. I've spent hours 
talking to her about the third world at a bar until 2am. She is as passionate as she is knowledgeable. She is 
curious. She has spent weeks at the bottom of the ocean, literally going deeper than anyone else. She has sent 
me a DVD of the fish there. Her rolodex would blow away almost anyone else's I can think of—probably even 
Rupert Murdochs'. She is very well-read and can talk about most things for hours. She is passionate about Bill 
Clinton with whom she is close friends. 
Yet, touchingly, when she had to give a speech at the 40th birthday party of her best friend, Ariadne Calvo-
Platero, (known fondly to her close friends as ""the Tennis Goddess"") Ghislaine shook a little with nerves. When 
it comes down to things she really cares about—and Ariadne is one of them—Ghislaine shows her vulnerability. 
And that vulnerability is key to understanding her friendship with Jeffrey. 
""He saved her,"" I remember a close friend of mine telling me. ""When her father died, she was a wreck; 
inconsolable. And then Jeffrey took her in. She's never forgotten that—and never will."" 
In many ways, the socially awkward Epstein with his big house, plane, island and ranch was the perfect 
replacement for her father, the late Robert Maxwell, newspaper tycoon and criminal. Sure, Jeffrey had his 
sexual pecadillos, but then Ghislaine's father was not without his oddities. After all, it was he who died leaving 
a massive ""black hole"" he'd fraudulently created. To Ghislaine, Jeffrey's habits may not have seemed that 
strange. 
In fact, she probably figured, rather like I have, after years of writing about he very rich, that most successful 
people in the end either have some weird habit (the late Bruce Wasserstein had the weight issues, the girl 
issues, and moved countries to avoid paying tax), or they break the law (Sam Waksal, Martha Stewart.) You 
don't tend to get to the top by being the world's most balanced human being. Even the folksy Warren Buffett 
didn't quite manage a normal life—whatever that is. He had a second ""wife"" for many years whose existence he 
has been open about. 
So what to make of the current fuss over Ghislaine? I haven't spoken to her or to Jeffrey, but I suspect that her 
loyalty to friends like Bill Clinton will keep her in good stead, in the end, she'll be out and about as always. Look 
at Waksal and Stewart. No one sees them and thinks: criminal. Au contraire. In this city, money makes up for 
all sorts of blemishes. 
--
*********************************************************** 
HOUSE OVERSIGHT 030473 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030474 
"
IMAGES-005-HOUSE_OVERSIGHT_020288.txt,"136

image. The 35-page Defense Intelligence Agency’s damage assessment, for example, that said
that 900,000 Pentagon documents were compromised by Snowden, was not made public. It was
only disclosed via a Vice magazine Freedom of Information request in June 2015.

What is known is the number of documents that Snowden gave to journalists in Hong
Kong. As will be recalled, Poitras and Greenwald were “writing partners.” When Greenwald
discovered that his copy of the documents were corrupted, Poitras made a copy of the thumb
drive that Snowden gave her in Hong Kong and sent it to her Greenwald in Rio de Janeiro by a
courier. That courier was intercepted by British authorities at Heathrow Airport. When
examined, the Poitras-Greenwald thumb drive contained some 58,000 documents. This meant
that the lion’s share of the 1.3 million documents that the NSA claimed were compromised had
not been given to journalists and is unaccounted for.

The numbers game is not only misleading nut unenlightening on the issue of the value of the
compromised documents. Many of the putative 1.3 million documents that the NSA says were
copied and moved were duplicate copies. Others were outdated or otherwise useless routing data.
So the quantity does not tell the story. Of far more importance than the quantity of the total haul
is the quality of some of the data that Snowden had copied. Just a single one of these documents
could cripple not just the NSA but America’s entire multi-billion dollar apparatus for intercepting
foreign intelligence. The previously-cited summary of requests by the CIA, FBI, Pentagon and
other agencies for communications intelligence, for example, which was 31,000 pages long, listed
all the gaps in U.S. coverage of adversaries, including those cited by President Obama’s national
security team. As Ledgett warned, this single document, if it fell into enemy hands, would provide
out adversaries with “a roadmap of what we know what we don’t know and imp/licitly a way to
protect themselves.” The “roadmap” was not found among the files on the thumb drive. Nor
were most of the missing level 3 lists concerning NSA activities in Russia and China found on the
thumb drive, even though Snowden said he took taken his final job at Booz Allen to get access to
these lists. If Snowden had not given these documents to Poitras, Greenwald or other journalists,
where were they?

The compartment logs showed that Snowden copied and transferred these level 3 documents in
his final week at the NSA. He presumably had them in his possession in Hong Kong after he
arrived on May 20, 2013. On June 3™, according to Greenwald, he was still sorting through the
material to determine which ones were appropriate to give to journalists. On June 12"" 2013, he
told reporter Lana Lam in Hong Kong that he was going through the documents, country by
country, to determine which additional ones he should pass on to journalists. Eleven days later, he
departed Hong Kong for Moscow carrying at least one laptop computer. Even after arriving in
Moscow, he suggested he still had NSA secrets in his possession. ""No intelligence service — not
even our own — has the capacity to compromise the secrets I continue to protect, “ he wrote to
former Senator Gordon Humphrey, “I cannot be coerced into revealing that information, even
under torture."" Much of the material he copied while working at Booz Allen remained, as far as
the NSA could determine, missing. Had he brought these files under his “protection” to Russia?

HOUSE_OVERSIGHT_020288
"
IMAGES-005-HOUSE_OVERSIGHT_018717.txt,"1 WINDE!

(jp. y. | >

FRANKLY, WE DON'T GIVE A DAMN!

ps: BORAT DOLL a
MISSING SCENES S FROM ~

HOUSE_OVERSIGHT_018717
"
IMAGES-003-HOUSE_OVERSIGHT_016175.txt,"contribution to GDP from 5% to 10%; 2) reduce the average time required to
approve and license new residential real estate; 3) reduce the housing unit cost
from 10x to 5x of the gross individual annual income; and, 4) increase the real
estate financing to non-oil GDP ratio from 8% to 15%.

e The Saudi Commission for Tourism and National Heritage is looking to increase and
develop hospitality facilities and tourism services. The ministry targets by 2020 to
increase the number of hotel rooms/apartments by 39% to 621.6k.

Positive government ambitions but...

The rise of real estate finance to non-oil GDP from 8% to 15% implies an incremental
funding of US$32bn which could finance c212k additional units by 2020 or c53k
additional units p.a. This compares to an estimated annual demand of 181k units which
come on the top of the existing cl.2mn shortage of housing.

..needs to be combined with land tax and sukuk issuance initiatives

Based on the target Key Performance Indicators (KPIs) set for the Ministry of Housing,
we estimate the initiative to be supportive but not sufficient to cater to the natural
annual demand which is 3.5 times more elevated than the implied additional supply
funded by the programme. We understand this initiative has to be combined with the
land tax initiative and the potential sukuk issuance from the Ministry of Housing which
could add further liquidity to the REDF to finance more units.

Land tax - gradual revenue source

Land tax among flagship measures adopted by the Saudi government

We expand more below on our understanding of the land tax initiative which was
recently approved by the Cabinet to tackle the housing shortage and raise government
revenues. Saudi Arabia’s Cabinet announced in November 2015 that it will gradually levy
a 2.5% tax on undeveloped land plots owned by persons or private entities in urban
areas, after the country’s Shura council approved a proposal to impose taxes on the so-
called white lands. The draft law was amended to include gradual taxes in accordance
with a specific timetable to force landlords to sell land, thus increasing land supply.

The regulations adopted in mid-June define undeveloped land as all vacant land
dedicated to residential use or commercial residential use within the urban boundary
limits. Fees will be applied to in a gradual series of stages; first, to owners of
undeveloped land with areas exceeding 10,000 square metres; second, to single owners
of developed land of more than 10,000 square metres in one master development plan;
third, to single owners of developed land of more than 5,000 square metres in one
master development plan; and, last, to single owners of land of more than 10,000 square
metres in one city. The Ministry of Housing will determine the land locations where the
tax will apply. The extension of the tax in later phases to developed land, from
undeveloped ones at first, will broaden the tax base and minimize tax evasion.

Tax proceeds will be deposited in SAMA

The taxes and fines collected by the Ministry of Housing shall be deposited in the
central bank, the Saudi Arabian Monetary Agency, and will be used to develop the
country’s infrastructure for new housing projects, according to the state-owned news
agency.

Law could be effective this month, but gradual implementation likely

Under the new system, the housing ministry has been in charge of issuing executive
procedures and rules for the new legislation within 180 days. The law will be effective
180 days after publication in the official gazette. The housing ministry is finalizing
necessary amendments to the decree by end-June 2016 and aim for implementation by
17 January 2017 (including a 1-3 year grace period).

OS Merrill Lynch GEMs Paper #26 | 30 June 2016 65

HOUSE_OVERSIGHT_016175
"
IMAGES-007-HOUSE_OVERSIGHT_023170.txt,"OUP CORRECTED PROOF - FINAL, 10/9/2014, SPi

XXXvili The Crooked Course

Resolution at the Khartoum Summit, which is referred to as the “Three Noes Docu-
ment” due to its clause that states: “no peace with Israel, no recognition of Israel, no
negotiations with it”. On 6 October 1973, Syria and Egypt launched a war against Israel
that ended in a political stand-off between Israel and its Arab adversaries.

In November 1977, Egyptian President Anwar al-Sadat broke Arab unity when he—
in a move which stunned the world—flew to Israel and addressed the Knesset in a bid
for a peaceful resolution of the Arab-Israeli conflict. Subsequently, in 1978, he signed
the Camp David Accords that established a separate bilateral peace agreement with
Israel.

Camp David highlighted the importance of a third-party broker. When President
Sadat and his counterpart, Prime Minister Menachem Begin of Israel, reached a
stalemate, US President Jimmy Carter invited the parties to his presidential estate for
trilateral discussions on 5 September 1978. Three scheduled days of negotiations
turned into thirteen days of frustrating and intense talks. Since these tripartite discus-
sions were unable to break the impasse, President Carter decided to work separately
with both sides. The result was an American proposal which incorporated the require-
ments of both parties into a single text. After lengthy negotiations on this document,
President Carter’s shuttle diplomacy resulted in the Camp David Accords of 17
September 1978.

In 1993, PLO Chairman Yasir Arafat followed the precedent of President Sadat and
broke ranks with fellow Arab leaders by secretly and bilaterally recognizing the State of
Israel and signing the Oslo Accords. The year after, building on the agreements
between Israel and the PLO, King Hussein of Jordan followed suit by negotiating a
bilateral peace treaty with Prime Minister Yitzhak Rabin of Israel. This culminated in a
spectacular signing ceremony at the desert border crossing of Wadi Araba in August
1994. In the agreement, Israel acknowledged Jordan’s historical role over Muslim holy
sites in Jerusalem and agreed to recognize this role in future permanent status
negotiations with the Palestinians. The two leaders also agreed on steps such as the
opening of border crossings and economic cooperation.

In 1999, Labor Party leader Ehud Barak defeated incumbent Prime Minister Benja-
min Netanyahu. As has been described above, the new Prime Minister broke radically
with the concept of gradualism that had been the hallmark of negotiations between
Yasir Arafat and three Israeli Prime Ministers, Yitzhak Rabin, Shimon Peres, and
Benjamin Netanyahu, favoring a more comprehensive approach to the peace process.
For the first half of 2000, Arafat and the Palestinians were left to wait for a Syrian peace
deal that was not to come. Despite Barak offering Syrian President Hafez al-Assad 99
per cent of the Golan Heights, it still fell short of Assad’s demand for a return to the 4
June 1967 lines, and the Syria track subsequently crumbled. This put Arafat on the
spot: how could he now, in front of the Arab world, accept less for the Palestinians than
Assad had demanded for the Syrians?

The Lebanon track fared better. It began in late 1999 with a dialogue between Prime
Minister Barak and me, as the newly appointed UN Special Coordinator for the Middle
East peace process. The Prime Minister confided to me that, as a part of his compre-
hensive quest for resolving all the conflicts that Israel had with its neighbors, he wanted
to end Israel’s occupation of Southern Lebanon that had started in 1978. Eventually, he

HOUSE_OVERSIGHT_023170
"
IMAGES-008-HOUSE_OVERSIGHT_025222.txt,"Eye on the Market | July 25, 2011 J.P Morgan

Topics: US debt ceiling negotiations, a more ambitious European bailout plan (finally), and how large cap growth stocks
and rising corporate profits are patiently waiting for both of them to end

I have a feeling that revenue increases will be a material (e.g., 25% or more) part of the deal. The Peterson Foundation’s
sampling of 6 policy groups shown below indicate that 5 of 6 recommend revenue increases compared to where we are today;
the Heritage Foundation’s “Woody Guthrie Memorial Budget Plan” is the only exception. What kind of revenue increases?
Raising the top two brackets, which would affect joint filers with adjusted gross incomes above $212,300, would raise $450-
$700 billion over 10 years (depending on whether you use OMB or CBO numbers). If they cannot agree to raise rates, another
option (as in the Gang of Six plan) would be reductions in the deductibility of state and local taxes, sales taxes, mortgage
interest, etc. As this gets sorted out, let’s hope everyone recognizes that the US tax system is already progressive. As shown in
the chart below, effective Federal tax rates for low earners have dropped to zero over the last decade, even after including FICA
taxes. News reports that the US tax system is regressive make me want to throw hamburgers at the screen.

Revenues and Spending as a % of GDP

Revenues Spending What a progressive income tax system looks like

Fiscal year 2011 475 3% 24.1% Combined effective federal income and FICA tax rates

Fiscal years 1950-1969 175% 181% ~° High earners
Fiscal years 1970-2010 18.0% 20.8% 20%

Estimates for 2035: 1%

CBO alternative case I@e 33.98 10% Median
American Enterprise earners
Bipartisan Policy Center 5%

Center for Am. Progress

0%
Economic Policy Institute

Heritage Foundation -5% Low earners
Roosevelt Institute j } oy 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Source: OMB, CBO, Peterson Foundation 2011 Fiscal Summit. Source: Tax Policy Center.

Europe: Finally (1!), but now what?

For the first time since 2009, it felt last week like European policymakers were trying to get out in front of things. In exchange
for a modest amount of “private sector involvement”, Germany agreed to more generous financing terms for Greece, Ireland
and Portugal, and an expanded role for the EU-IMF lending facility (see following page). What would the plan accomplish if
implemented? While Greek debt to GDP ratios would remain well over 125% of GDP (the IMF estimate for next year is a
ridiculous 170%), Greece’s near-term financing obligations would decline, due to debt buybacks, exchanges into long maturity
bonds, and interest grace periods on new EU loans. More broadly, the plan also allows for money to be lent to countries before
they enter into an IMF program, for recapitalization of banks. All things considered, it’s the broadest defense of the
Monetary Union so far. On paper, it even looks like a free ride for holders of Greek paper that don’t participate in the debt
exchanges (they would be paid at par). So, what’s not to like? Well, there are still questions about Greece:

e ©There’s a big difference between generous financing terms and generous economic terms. Greece must still meet an
enormous 5%-6% primary budget surplus target (government revenues less spending, pre-interest) during a recession

e Greece must execute on its asset sale targets, despite having little success or experience doing this in the past

e Banks listed in the ITF document (the committee representing them) are under no binding legal obligation to participate in
the debt exchanges, and may turn out to own less Greek debt than currently believed. [Note: bank participation in the Latin
Brady bond era was high, since at the time, banks held almost all the paper, and in the form of illiquid loans].

The big question: would Germany still live up to the deal if Greece missed deficit targets or assets sales, if bank participation
was too low, or if hedge funds (once referred to by the Chairman of the German Social Democratic Party as a “swarm of
locusts”) reaped large free rider windfalls? Ultimately, this is a political question. If “yes”, Germany will underwrite Greece
no matter what; if “no”, then a broader, coercive Greek restructuring might follow in the not-so-distant future’.

> This could get complicated. If there is a need for further debt forgiveness for Greece, will policymakers find a way to “ring-fence” the
banks that participated in the first round, and impose losses just on the hold-outs? Will the EU tell banks that if they don’t participate, their
older bonds will not be eligible for financing at the ECB? >

HOUSE_OVERSIGHT_025222
"
TEXT-001-HOUSE_OVERSIGHT_024407.txt,"From: Bill Siegel [ 
Sent: 2/8/2013 8:48:50 PM 
To: jeevacation@gmail.com 
Subject: Re: Fro- The Control Factor - Frontpage Magazine interview 
Attachments: image001.gif; image002.jpg; image003.png; image004.png; image005.jpg; image006.jpg; image007.png 
Importance: High 
I will let you know when I go back. Do you know her? 
From: Jeffrey Epstein <jeevacation@gmail.com> 
To: Bill Siegel 
Sent: Fri Feb 08 15:16:44 2013 
Subject: Re: Fro- The Control Factor - Frontpage Magazine interview 
great. place.. when will you go.. did you get married? i m between alber and santa fe„ zorrro ranch, you can 
google earth it. 
On Fri, Feb 8, 2013 at 4:10 PM, Bill Siegel ___________________> wrote: 
You ok? I became friendly with shirley maclaine last year and went to her ranch in sante fe. I may go 
back and remembered you own half the ranch land there or something. Do you still like it there? 
From: Jeffrey Epstein <jeevacationagmail.com> 
To: Bill Siegel 
Sent: Fri Feb 08 14:58:01 2013 
Subject: Re: Fro- The Control Factor - Frontpage Magazine interview 
I already rad it. congragulations hope to see you soon 
On Fri, Feb 8, 2013 at 3:40 PM, Bill Siegel <=IIIF wrote: 
Bill Siegel hopes this might be of interest to you: http://frontpagemag.com/2013/jamie-glazovithe-control-
factor-our-struggle-to-see-the-true-threat/  
The Control Factor: Our Struggle to See the True 
Threat 
February 8, 2013 By Jamie Glazov Comments (6) 
22 
L=J-1 Print This Post 
HOUSE OVERSIGHT 024407 
THE 
CONTROL 
FACTOR 
Our StrEas.gle to Sec the Trite Threat 
BILL SIEGEL 
FrontPage Interview's guest today is Bill Siegel, a lawyer and business 
executive. He has been a producer of several documentary films and assists numerous non-profit 
organizations. He is the author of The Control Factor: Our Struggle to See the True Threat. 
FP: Bill Siegel, welcome to FrontPage Interview. 
Congratulations on this brilliant book. It is without question one of the most vital works of our time. 
Let's begin with what inspired you to write it. 
Siegel: Thanks for having me Jamie. As a young boy born in the mid 1950s, I was fascinated with footage of 
Hitler and the Third Reich and could never understand how the Jews of the time could not see the evil that 
seemed so obvious. Not yet appreciative of the benefit of hindsight, I could not comprehend the blindness. 
Following 9/11, like so many others, I began to study Islam, its history, its current movements, terrorism and 
so on. As I would learn one stunning aspect after another, I would discuss them with friends and associates. 
Rather than confront the facts I would present, they would find one clever way after another to avoid the 
frightening truth of what America and the West truly face. Their fear appeared obvious to me. I began to 
catalog many of my friends' different maneuvers to dispel the anxiety that they found so difficult to endure. 
The more I focused on their mental processes (as well as my own) the more I began to see a structure to the 
mental endeavor and to understand what I had, as a child, found so difficult to explain. 
FP: Tell us about the Control Factor, what you describe as ""that effort our minds enga ge in in order to keep 
us blind"" and that ""process of a voiding seeing the threats we face."" It's also about, as you state, trying to 
believe that the threat is under our control, when in fact it is not. Kindly enlighten us as to these profound 
insights you make in terms of the Control Factor. 
Siegel: First, let's distinguish the ""real world"" where real battles are taking place from the mental battlefield 
which occurs in each of our minds. We tend to believe our perceptions are simply clear realizations of what is 
""out there"" and overlook how much our internal worlds can literally determine what we see. When our 
internal minds become anxious and sense a loss of ""control,"" they tend to concoct ways to distort our 
perceptions so as to restore that sense of inner control. I describe the Control Factor as an ""active and 
continuous process"" designed to maintain that sense, if not illusion, of control. We natural ly think that our 
thinking and feeling processes are passive; that they just happen. Yet when faced with truly frightening 
prospects, the mind is geared to actively distort. 
HOUSE OVERSIGHT 024408 
Similarly, the sense of control must be continuously maintained so the Control Factor operates constantly. In 
turn, the sum of this active and continuous undertaking makes these perceptions all the more familiar and thus 
seemingly all the more ""real."" In one sense, the Control Factor is the mechanism of what Andy McCarthy 
entitled one of his numerous excellent books- willful blindness. The Control Factor is cleverer than we are 
aware; that is almost tautological as, if our minds are to create ways to keep us in denial, they must out 
maneuver our conscious thinking. 
Since World War II, America has had limited experience with threats coming to the homeland. Most of 
America's history has been about ""over there,"" where we have always known that if things got too out of 
hand (e.g. Vietnam) we could always ret urn home. The current generations, for a wide array of reasons, have 
had virtually no experience with a threat to this land. (The documentary, Generation Zero, is interesting on 
this point). 
Consequently, the process of waking up to such a threat parallels the arc of a typical horror film. In such a 
film, there is typically a cast of characters surrounding one or two main characters. We in the audience know 
there is a threat coming — be it a monster, a virus, a psycho killer, an alien, the blob that ate Cincinnati etc. 
This threat is typically defined by its intent- the singular goal of destroying the characters. Much of the initial 
exposition shows how the characters first are oblivious to the destruction the threat brings about, then explain 
it in familiar terms only to finally open their eyes to see that something uniquely terrifying is happening. The 
next stage usually involves a series of failed attempts to deal with the threat- fr om trying to negotiate with it, 
to appease it, to coax it, to threaten it with ineffective weapons and so forth. Most of these failings are due to 
not adequately appreciating the threat for what it truly is and projecting onto it a host of other attributes 
instead. The final stage generally involves a back-up-against-the-wall decision by whichever characters 
remain alive. I named this the ""turnaround moment"" when the character becomes willing to be as ruthless as 
the threat. That change in mental state is necessary to ensure survival. Ultimately, the storyline is a race for 
whichever characters remain to wake up fully and use whatever advantages they may still have to beat the 
threat. 
This is the same arc our minds go through in battling our own Control Factors, our own compulsions to deny 
that which is staring us in the face. Ultimately, the question is whether we will be able to wake up while we 
still have advantages and give ourselves permis sion to fully fight the battle we are in. 
I said ear her that there is a structure to the Control Factor. To oversimplify, I view it much as a pyramid 
where on the bottom are the many minute by minute thoughts that are manipulated. I call this level of 
maneuvers the many ""D's"" as they include the psychological defenses such as distortion, denial, 
demonization, deflection, deletion, detachment, delusion, displacement, discolorization and so forth. Layered 
upon these are moves such as projection, where we can assign to our Islamic Enemy traits we wish to see in 
them or introject traits from them into ourselves that we wish not to acknowledge. These maneuvers involve a 
mixing of identities where we actually lose clarity about who we are and who the enemy is. Projection and 
introjection are active almost across the board. It is always helpful, for instance, to ask how what the enemy 
accuses us of is more appropriately descriptive of it. When we add Western Guilt and Shame, our need to be 
liked, and o ther psychological dimensions, basic thoughts solidify into larger fantasies. 
As these narratives (""Our courts will never allow that,"" ""As a superpower we will always be able to win any 
fight we put our minds to,"" ""Assimilation will ensure Muslims are westernized"" ...) gain consent from others 
they tend to guide us deeply and become infused on our policies. Ultimately, what emerges is a relationship 
we take with our Islamic Enemy that parallels that between an addict and an enabler. Emblematic of this 
relationship is the ""transfer of responsibility"" in which we assume responsibility for the enemy's behavior 
who is addicted to transferring it away from itself The Control Factor actively maintains this relationship and 
makes changing that relationship as difficult a chore as any addict finds in breaking his addiction. And just as 
an addict needs to devote serious effort and con sciousness to his addiction, so must we devote great energy to 
unders tanding how the Control Factor ultimately sabotages us. 
FP: Describe the threat we face in our Islamic enemy. And you talk about the three levels of jihad against us. 
What are they? 
HOUSE OVERSIGHT 024409 
Siegel: Simply stated, our Islamic Enemy seeks the totalitarian domination of Islam throughout the world — 
Islamic supremacy. It seeks to have the West submit to Islam. Obviously, this does not mean that everybody 
becomes a Muslim. Islam, in all its varied expressions, permits dhimmis- those Christians, Jews, and some 
others who are permitted to remain as protected non-Muslims as long as they submit to an inferior status. 
What is critical is that Shariah (Islamic Law) ultimately rules the world. 
Jihad, loosely, is the effort/struggle to see this vision through. The most obvious method of Jihad is through 
violence; it is the one most familiar to most Westerners and almost all of the Koranic references to Jihad are 
based in violence. The Violent Jihad includes al-Qaeda and its offshoots as well as other groups that formed 
around the globe independent of al-Qaeda. It also obviously includes the violence from Islamic nations such 
as the Islamic Republic of Iran whose constitution specifies such vision. It also includes, however, various 
militant groups and training camps here in the US as well as ad hoc efforts of individuals. 
Since 9/11, there have been something in excess of 15,000 Violent Jihadic attacks across the globe. However, 
as terrible as this is, we have a tendency in the West to think that the only dimension of threat we face comes 
from violence. While the Bush administration helped initiate this thinking, the Obama administration has 
actively abused it by limiting any discussion of the threat we face to al-Qaeda and some other terrorist groups 
abroad. As frightening as these groups are, we can get some ease from thinking they are a band of ""extremists 
limited in number, weaponry, sophisticati on, and means. Stunningly, Hillary Clinton recently estimated that 
there are only about 50,000 ""homicidal"" violent extremists around the world who simply have been able to 
project power much greater than their number should allow. Here the Control Factor makes the threat appear 
more easily manageable. 
Jihad, however, is pursued in other often even more effective ways which I have grouped into three ""levels."" 
A second more insidious level of threat is what the Muslim Brotherhood itself called the ""Civilization Jihad."" 
It is the effort to infiltrate all aspects of our society, peacefully according to our laws, in order to later be in 
position to sabotage and destroy it from the inside. The Civilization Jihadists have learned the culture and 
rules of the territories they seek to command and use those rules to maneuver—specifically using our 
freedoms to destroy our freedoms. They use ""lawfare"" to seek changes in our laws so as to push Shariah into 
our society. Your readers should read Daniel Pipes and Brooke Goldstein's Lawfare Project material and 
others to fully appreciate how cancerous this activity has become. This includes intimidating in a variety of 
ways anyone who speaks out against them or Islam and seeking to squelch our treasured broad right to free 
speech so as to ultimately prevent any criticisms of Islam. Once criticism of Islam is prohibited, little can stop 
it from cascading throughout the culture. 
The Civilization Jihad includes situating such Jihadists in critical positions in the society, in the government, 
in the legal system, the military, and elsewhere. It includes the control over university programs that distribute 
propaganda about Islam and Islamic history which then filters down throughout textbooks for even younger 
students. It includes control over most of the nation's mosques and local Imams guiding the mess ages 
engaged Muslims are receiving. Most troublesome are the Muslim g roups (CAIR, ISNA, MSA and others 
associated and/or joint venture partners with the Muslim Brotherhood) supposedly interested in ""outreach"" 
which know how to appear Westernized and interested in the goals of Western Civilization. They have fooled 
a large part of our authorities and media due in part to their patience and willingness to chip away, one airport 
prayer room, one frivolous intimidating lawsuit, one Congressman or CIA officer, one mosque, one ruling at a 
time. 
Particularly in the US, given our deep attachment to freedom as well as cultural and psychological tendencies 
toward diversity, Western guilt and expectations of truthfulness, this effort is devious and difficult to uproot. 
The Civilization Jihadists present one face to the American public which is completely at odds with their true 
agenda and how they deal in private. Jamie, you and David and others such as Steve Emerson, Frank Gaffney, 
Andy McCarthy and others have done s o much to uncover this level of Jihad that your readers should be 
urged to review as much of their work (including Steve's recent excellent documentary, The Grand  
Deception,  and Frank's important web video course, The Muslim Brotherhood in America) as possible. 
Finally, there is a third level — the International Institutional Jihad. Here the most powerful international 
institutions such as the UN and the Organization of Islamic Cooperation and others seek to push into America 
HOUSE OVERSIGHT 024410 
from without those changes which are difficult to complete from within. The OIC is the largest Islamic 
institution in the world. It essentially controls the vote in the UN's General Assembly and thus explains in 
part the absurd and abject pro-Islamic, anti-Israel thrust of that organizat ion. This level seeks to use the 
power of Islamic nations to work fro m outside the West to force changes within the West. While there are 
various conflicts between many of the nations, being Islamic majority states, there is a great deal they agree 
upon which becomes the focus of these efforts. Just as the Obama administration is beginning to cooperate 
with international efforts to control gun ownership, so has Hillary Clinton's Istanbul Process become a 
dangerous step in the effort to restrict speech critical of Islam by norm (or possibly even treaty) when it may 
not be fully executable by domestic action alone. 
I should point out that Stephen Coughlin, the former Pentagon officer who has an important must-see 
presentation of Islamic Law, uses different names for these same three levels — Jihad, Dawa, and Ummah. 
Had I seen his work before I wrote my book I would have conformed to his categorizations. 
We must learn how powerful language has become on all three levels. Words such as ""peace,. $B!1 
""freedom,"" ""terrorism,"" and phrases such as ""human rights"" have different meanings for us and for our 
Islamic Enemy. To oversimplify, ""peace"" is not something for now but that which comes when all the earth is 
submitting to Islam. In the context of battles, ""peace"" is at best a temporary ceasefire. ""Freedom"" is best 
understood as having the freedom to fully submit to Islam, not to choose whatever beliefs one desires while 
respecting the same right in others. We've all seen how ""human rights"" and ""terror"" really only apply among 
Muslims, not to non-Muslims. Our enemy fully understands these differences and uses them at all levels to 
paralyze us. 
Look simply at how the phrase ""Israeli-Palestinian conflict"" has equalized the two parties, making it all the 
easier to ascribe features of one to the other and view the problem as a simple-to fix division of ass ets into 
statehoods but for personality problems among the leaders. The simple truth is that this is and has always been 
a one-sided Arab war against Israel as Ruth Wisse and others have described and, as Bibi Netanyahu made 
clear, the ONLY state truly at issue here has been the State of Israel that the Arabs have refused for over half 
a century. Nonetheless, the Control Factor hypnotically abuses the mind's susceptibility to the intricacies of 
language. 
Even the label ""Peace Process"" has been damaging language. While most focus upon the first word, turning 
this into a ""process"" has helped ensure that peace is never obtained. It is more appropriately called the 
""Extortion Process"" because all that results is that violence is used over decades to extract concessions from 
Israel. 
These three levels must be understood for their differences while united by a single goal. While these levels 
often op erate together and assist each other, we must avoid ""level confusion"" which the Control Factor 
employs to curtail our fears. If the Obama narrative is swallowed- that the only threat is the Violent Jihad- we 
will miss the other contamination fomenting within our borders. We must appreciate how these levels work 
together and even unite with other forces such as the global Leftist movement that you, Jamie, have described 
so forcefully in United in Hate. 
FP: You write about how we like to talk of ""Good Muslims"" and how we are always on the eternal search for 
""moderate"" Muslims (Khatami, Mousavi, Abbas, etc), while we stress how the ""extremists"" are the real 
problem and how ""few"" they really are. All of this is connected to the Control F actor. Enlighten us. 
Siegel: The Control Factor seeks to have us feel in control of the situation. The easiest way to do this is to 
simply minimize the number of potential enemies. We have been lectured for years about how Islam is a 
""religion of peace"" and that the violence we see (remember that we have already improperly limited the 
problem to violence) is the product of a small number of ""crazies"" (remember Hillary Clinton's 50,000) who 
have distorted Islam. I call this the ""Peaceful Muslim Disclaimer"" as virtually everyone in the press and 
government has been bullied into making some statement of the kind to silence those who will pressure them 
that they are ""Islamophobic"" and Islam is being attacked. (These are the Islam hustlers who operate on the 
same principles that black race hustlers so effectively used to extort concessions over the last six decades or 
so). 
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Nobody has done any real work to support this proposition, nor is it clear exactly how it would be tested. My 
view is that the grammar ""Islam is x"" is itself problematic because Islam has expressed itself throughout 
history in a variety of fashions. It is more useful to talk in terms of how seriously engaged with Islam, the 
Koran and other texts, a Muslim is. What is significant is how Muslims today are using Islam and most of 
those who are in power either throughout a large territory or within a small community tend toward, if not 
fully advocate, the very supremacist ideas that we try to tell ourselves are reserved for the 
few ""extremists."" Presumably most Germans did not wish to see all Nazi atrocities carried out but in the end 
they fell in line because they had to. Those our politicians and press call the ""extremists"" are in one sense 
more accurately the ""good"" Muslims who ar e following their Islamic beliefs dutifully. 
FP: Tell us how Western shame and guilt play into all of this. 
Siegel: One of the dirty little secrets the Control Factor preys upon is that if we believe we control something 
we can comfort ourselves that we can change it. Remember the horror film- the threat has one purpose and 
that is to destroy you. You can not change it, talk it out of it, teach it alternatives or otherwise. That is what 
makes it so inherently frightening. If we can convince ourselves that we caused the threat to act the way it 
does we can maintain the secret hope that we can change it. Consequently, there is a tremendous attraction to 
blaming ourselves for the Islamic Enemy's behavior. And we see this power in our readily accepting 
responsibility for terror- because of our occupation, our greedy quest for oil, our failure to extend a hand of 
""engagement,"" Israel's building settlements, our making videos that defa me Mohammed and so on. Again, 
the relationship is defined by the enemy blaming us for his actions and our accepting such responsibility. 
Shelby Steele has written brilliantly about what he calls ""white guilt"" and outlines how whites during the 60's 
and thereafter were pressured into a transaction whereby in order to re-obtain a sense of moral authority they 
accepted blame for the condition of blacks and behaved as if guilty. Blacks were able to extract great 
concessions and whites were able to view themselves as morally restored and redeemed. At a certain point, 
however, the behavior takes on a life of its own and the narratives become deeply embedded in the culture 
and, as we can see today, difficult to uproot. 
Western guilt is an extension of Steele's notion. President Obama's confessionals to the Arab world admitting 
that America has made ""mistakes"" and was not born a colonial pow er express this same tendency to appease 
through guilt. Hillary Clint on's ""reset"" with Russia conveyed the same submissive request for a more 
acceptable response. In being guilty we presume the other party will recognize our contrition and respond in 
like kind. One of the Control Factor's most devastating moves is employed- presuming the other is just like us 
and will respond the way we would. This is frequently how an enabler justifies his continuous support for an 
addict. The problem, however is that our Islamic Enemy is NOT like us and will not respond in like kind. 
Rather, as we repeatedly refuse to learn, appeasement invites more abuse from an enemy. This becomes 
the ""game of guilt;"" it tends to expand to greater and greater consequences. Paradoxically, psychological 
defenses tend to create the very outcomes they seek to eliminate and it is no different here. It is a game we 
love to play but, unfortunately, the game gives us no rules for how to end it. 
All beha vior is instructive. That is, we teach others how to treat us. The game of guilt, along with other 
Control Factor tools, teaches our Enemy it is winning and to continue playing. 
FP: The reason Nidal Hasan was able to perpetrate his murder spree at Fort Hood is precisely because of our 
Control Factor. Please connect the dots for our readers. 
Siegel: Just as I used to look at Hitler when I was young and be amazed that no one could see what he was 
about, in retrospect the same applies to Hasan. It is precisely all the elements of the Control Factor that could 
allow this man, a Soldier of Allah, to be positioned as he was. He was blatantly voicing his Islamist views and 
Jihadi intent including, even, an essay recommending the ""painful liquidation"" of non-Muslims. Yet, in the 
Army of all places, the Control Factor operated to allow and even foster his work. Even after the murders, we 
cont inue the denial by calling it ""workplace violence."" He is the Civilization-Violent Jihad combo! And we 
continue to enable the same infiltration elsewhere. 
FP: Tell our readers about ""The Project"" and ""Explanatory Memorandum."" These are realities that serve as 
great threats to the Control Factor, right? 
HOUSE OVERSIGHT 024412 
Siegel: These are separate sets of documents that outline the Muslim Brotherhood's goals and 
plans underlying the Civilization Jihad. The former was discovered in Europe and extends globally. The 1991 
Explanatory Memorandum emerged in 2008 from the Holy Land Foundation trial and describes the 
Brotherhood's work in America as a ""Civilization-Jihadist Process with all the word means"" and ""a kind of 
grand Jihad in eliminating and destroying the Western civilization from within and 'sabotaging' its miserable 
house by their own hands and the hands of the believers so that it is eliminated and God's religion is made 
victorious over all other religions."" 
Much as the communists of the Soviet Union had formulated in the 1950s a detailed long term plan to 
destroy America (many of the effects of which we are seeing of late including destroying the nuclear family, 
secularizing the nation, feminizing men ...) these documents identify many strategies to infiltrate while 
eroding the foundations of our civilization in order to transform it into an Islamic one. The Control Factor has 
many ingenious ways to convince us that this is ridiculous, that our courts and system would never allow 
such a thing, that one is racist or ""Islamophobic,"" if not insane, for even thinking this is real. And just as with 
the communists, time is plentiful. Even more so with our Islamic Enemy, a multi-decade plan is short term. It 
is not critical that a seriou sly engaged Muslim lives to see the result. It is critical, more correctly a duty, 
however, that he carries on his Jihad. Patrick Poole and The Center for Security Policy's Team B Report, 
Shariah: The Threat to America, are excellent sources for your readers to pursue these documents. 
FP: And so what you call an ""Inner Jihad"" has to start. It's our, as you say, mandatory ""addiction treatment."" 
Please explain. 
Siegel: The ""Inner Jihad"" is the effort we must undertake to gain control over our Control Factors. There is a 
famous Hadith in which Mohammad, returning from a successful battle, essentially says that the physical 
fight was the ""lesser Jihad"" and it is time to then attend to the ""greater Jihad 4""- that internal battle against 
our own internal appetites, lusts, wrong thinking and so forth. While that Hadith has been falsely utilized to 
say that ""Jihad"" is not violent, it is useful to us as a symbol of the vicious effort we must take internally 
against our own Control Factor tendencies. 
As I said earlier, the Control Factor is ""active"" and ""continuous"" so we must constantly monitor and combat 
it. Like ""Whack-a-Mole,"" just as we may think we have addressed it, another variation pops right up. I use the 
terms ""addict"" and ""enabler"" because we truly need a form of rehab to break the habitual power of the 
Control Factor and because our relationship with our Islamic Enemy is very much like that between a typical 
addict and his enabler. And just as it is so difficult for an addict to kick his habit, so does the enabler act 
essentially addicted to his behavior and find it so difficult to change. At its core, the relati onship involves the 
transfer of responsibility for our Islamic Enemy's hate and resultant actions onto us with our response framed 
essentially as an effort to do what we can to try to address the Enemy's grievance. (Your book, United in 
Hate, describes this addiction to hate in detail. 
The key to the Inner Jihad is to learn to transfer responsibility for our Islamic Enemy's hate and resultant 
actions back to it and take responsibility back for our own situation. We must learn all we can about the 
enemy. We must unwind our inappropriate projections and introjections and rediscover who we are and are 
not. We must speak up. We must support those Muslims who promote expressions of Islam that are consistent 
with our principles. And we must stalk the C ontrol Factor, constantly be on guard for its intrusion. This is an 
individual endeavor as each of our Control Factors uses its own methods. The book gives plenty of examples 
of each maneuver discussed but it is important for each of us to discover the unique workings of his own 
mind. That takes the work of the Inner Jihad. 
FP: Share with our readers what you mean by the ""Turnaround Moment."" 
Siegel: There is a moment in typical horror films where the central characters have been pushed to their limit. 
They then change and fully embrace the willingness to be as ruthless as the threat they face. No more moral 
high ground; no more futile attempts to ignore or change the threat's essence. As Lee Harris described in The  
Suicide of Reason, it is the willingness o r license to be (not necessarily actually being) as ruthless that is 
critical. It is a mental state that sheds all the prior counter-productive efforts at denial to finally clearly focus 
on the threat faced. Part of the Inner Jihad is to reach that Turnaround Moment sooner rather than later. 
HOUSE OVERSIGHT 024413 
FP: You suggest that ""mirroring"" should be used as part of our arsenal. Tell us about it. 
Siegel: Mirroring is a literal approach to transferring back to the addict responsibility that we have been 
inappropriately accepting. Critical to the addict/enabler relationship is asymmetry. Like the addict, the enemy 
uses a less limiting set of rules than we do. The enemy typically initiates aggression while we respond only. 
Mirroring means that we demonstrate our willingness to act symmetrically, to be governed by the same rules. 
It is stunning how much is accomplished when one's attitude simply is clear that he will do what is necessary; 
often not much else is needed as the addict or enemy realizes the game is fundamentally changed. But other 
times action is absolutely needed. Demonstrating that we are not afraid to treat the enemy as it treats us 
carries great meaning. Imagine (international law aside) if Israel announced that from now on it will mirror 
Hamas such that if civilian populations are targeted by bombs from Gaza, Israel will do the same (it is 
accused of such anyway). The population might finally rethink and take responsibility for its privilege of 
voting its leaders. As stated earlier, all behavior is instructive and when we mirror we teach the other the 
effects of his behavior. 
Conversely, some situations demand that we assert asymmetry; those cases where it is necessary to highlight 
our differences with the enemy. Just this week, an disingenuous report was issued by an NGO drawing an 
equivalence between Palestinian and Israe li schoolbooks claiming that both sides have their relativistic"" 
narratives."" Yet, as the Palestinian Media Watch's website has demonstrated for years, there is nothing in the 
West anywhere comparable to the hatred spewed daily by the Palestinian Authority, including through its 
education system. It is interesting to note that while the US State Department initially funded the ""study,""- in 
what appears to be an attempt to sanitize the PA's record so that the US can continue to fund the PA against 
the spirit of US law- Hillary Clinton has a difficult time escaping her conclusion as Senator in 2007 that these 
schoolbooks along with other media ""profoundly poison(s) the minds of these children."" It is most important 
that we do not succumb to this type of use of symmetry that distorts the profound differences between us and 
the enemy. 
Essentially, we are not clear as a nation, participating in a world with international rules, how to bes t fight 
this enemy. The first act of any rehab is to acknowledge that we do not know how nor are we yet competent to 
stop our addictions. This is not a book about policy. In fact, the ""right"" policies are unlikely to emerge until a 
critical mass has meaningfully dealt with their Control Factors and share a common perspective. We like to 
look at our history and assume a single perspective throughout but the truth is that we had to learn how to 
respond to Pearl Harbor, the Nazis, the Cold War etc. The same applies here. Our press promotes ""elites"" who 
are tasked with acting as if they possess the ""true wisdom"" to deal with our threats but the truth is we do not 
know nor are we equipped to marshal enough of our population to agree just yet. The sooner we learn, 
however, the less we will suffer. Mirroring has always been a key component of those lessons. 
I have been encouraged by some recent acts that have begu n to nip at the asymmetry. For years, the language 
of ""feeling s"" had been reserved for our enemy while we were limited to that of ""action;"" we would do 
terrible acts that would cause bad feelings in the enemy which would then serve to justify whatever response 
it made. It had always been a question of the harsh insensitive acts Westerners do against Muslims and the 
resulting hurt, loss, shame etc. that Muslims experience. The Ground Zero Mosque incident, however, broke 
new ground because all of a sudden non-Muslims' feelings became the focus and were cast as resulting from 
Muslim acts. Another example was seen in how quickly the attempt to blame the Benghazi murders on 
the video about Mohammad fell apart. Just as large corporations eventually learned to turn away from 
shakedown attempts from race baiters, we are beginning to learn to demand symmetry through mirroring. A 
word of caution: When enablers change their behavior and demand symmetrical rules for the addict, the latter 
typically initially erupts with great resistance. This is a stage we must be prepared to tolerate and fully 
withstand as it creates the only real chance for the addict to finally change. It is critical, therefore, that when 
we finally engage in mirroring that we be prepared to see it through completion. 
FP: What if we fail to engage in our own Inner Jihad and the Control Factor stays firmly in place? 
Siegel: Critical to the Inner Jihad is the realization that our civilization is fragile; not to be taken for granted. 
Our demands for multi-culturalism and diversity have bumped heads with the simple paradox that tolerating 
the intolerant leads to extinction. Tolerating the intolerant is perhaps the most crystalline version of 
HOUSE OVERSIGHT 024414 
asymmetry we have accepted. Seriously engaged Muslims MUST place the Koran above all law while in 
America, the Constitution ranks supreme. As Omar Ahmad, founder of CAIR, reputedly said, ""Islam isn't in 
Amer ica to be equal to any other faith, but to become dominant. The Koran is the highest authority in 
America and Islam is the only accepted religion on Earth."" Who makes law- the people or Allah? While the 
Control Factor constantly seeks for some accommodation between the two, this conflict CAN NOT be 
negotiated. Only one can survive not because we have declared ""war"" but because our Islamic Enemy has. 
That is, perhaps, the lesson we will most need to fully learn, one way or another. We will eventually hit a 
Turnaround Moment as a nation and if enough of us are not truly prepared to fight and continue to be 
controlled by our delusions, we will lose. If we truly seek to win, it is better to get there sooner while we have 
advantages than later. 
FP: Bill Siegel, thank you for joining FrontPage Interview. 
And thank you for writing this superb and most important book. 
We encourage all o four readers to get their hands on The Control Factor: Our Struggle to See the True  
Threat and to read it! 
Editor's note: To watch The Glazov Gang's recent discussion about the Muslim Brotherhood's 
infiltration of the United States and the Obama administration, see this week's episode below: 
Freedom Center pamphlets now available on Kindle: Click here. 
Filed Under: Daily Mailer, FrontPage Tagged With: Denial, Islam, muslim brotherhood, Obama, Siegel, The  
Control Factor  
22 
a Print This Post  
About Jamie Glazov  
Jamie Glazov is Frontpage Magazine's editor. He holds a Ph.D. in History with a specialty in Russian, U.S. 
and Canadian foreign policy. He is the author of the critically acclaimed and best-selling, United in Hate:  
The Left's Romance with Tyranny and Terror. His new book is High No on For America. He is the host of 
Frontpage's television show,  The Glazov Gang, and he can be reached at jamieglazov11@gmail.com. Visit 
his sit at JamieGlazov.com. 
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Comments (6) 
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+3 
AdinaK 86p 11 hours ago  
The war being waged has two components - mental and physical. The mental side is a minefield of constructs, 
deeply implanted within generations of Americans, and its PC chickens are coming home to roost. So much 
so, millions of Americans (westerners) cannot break free of its shackles. But it is not as if these mental chains 
magically appe ared. Far from it - http://adinakutnicki.com/2012/11/26/the-death-of-...  
In addition, the fault-lines of democracy allowed for the most retrograde forces, on this planet, to infiltrate 
and penetrate the body politic- http://adinakutnicki.com/2012/09/02/the-subversio...  
IF the mental and physical constraints are not immediately removed, it is a given that western civilization will 
fall. Cause and effect. 
Adina Kutnicki, Israel - http://adinakutnicki.com/about/  
HOUSE OVERSIGHT 024415 
Report 
Reply 
1 reply active 30 minutes ago 
0 
dmw 30 minutes ago  
And I would think one ""phy sical constraint"" is to not let them in in the first place. By & quot;them"" I mean 
those who have allegiance to a socio-political system disguised as a religion that seeks world dominance by 
man imposed methodology/effort -- unlike Judaism and Christianity properly understood. If we are to 
""believe"", the world already has a King and does not need a Caliph. 
Report 
Reply 
0 
MikeWood 6 hours ago  
Ground-breaking, brilliant. There are absolutely essentially lessons to be learned from this. Buy this book, 
read it, study it, and lend it to your friends and colleagues. Do it. 
Report 
Reply 
0 
NMI 
lambsev77 54p 4 hours ago 
The fall of Rome... The fall of the 3rd Reich... The fall of Western Civilization... 
00000h... Scary! 
How about the fall of humankind recorded in Genesis Chapter 3 and following? 
We're ALL GONNA DIE! But will you rise with Christ? 
Report 
Reply 
+1 
II 
gWolfyJam 2 hours ago  
Notice how celebrities basking in their narcissism think they can dictate culture to us while they live their 
lives in the comfort of their ivory castles. Mia farrow has no clue what the right to bear arms means and 
because of that she needs to shut the hell up. As far as blacks go-- I grew up in the 70's coming home from 
Hallahan H.S. in Philadel phia, me and my small group of girls were swarmed by a mob of black girls who 
would kick and slap and pull hair without provocation, of course we would fight back but then that was back 
in the day when whites weren't sissies. Still I made excuses for them. Black men would get in my face for no 
other reason than to intimidate me. rocks were thrown a my car for no reason. So, in short, based on my 
HOUSE OVERSIGHT 024416 
experiences Blacks are the cause of racism and if they hate whites so much then they should stay away 
completely and totally. 
Report 
Reply 
+1 
gWolfyJam 2 hours ago  
I read the Control factor and it was excellent. I wish more people would realize that our country is at its most 
vulnerable than ever in its history. the jihadis have basically taken over the inner cities. Islam's love for 
violence coupled with ignorance and narcissim are a recipe for disaster. I hope Americans wake up in time to 
save their future. I'm not optimistic though. I think its over but still I fight on. 
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HOUSE OVERSIGHT 024417 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
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The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
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HOUSE OVERSIGHT 024418 
"
IMAGES-003-HOUSE_OVERSIGHT_014762.txt,"Stress testing CNY

Claudio Piron Yang Chen

Merrill Lynch (Singapore) Merrill Lynch (Hong Kong)
claudio.piron@baml.com ychen8@baml.com
Gabriele Foa Ronald Man

MLI (UK) Merrill Lynch (Hong Kong)
gabriele.foa@baml.com ronald.man@baml.com

SiEESS testing CNY

We stress test China’s FX reserves to capital outflows and warn of a potential
USD520bn fall in FX reserves in 2017, translating into higher CNY volatility.

« We also look at broader EM FX sensitivity to CNY depreciation and find ZAR and
RUB most vulnerable.

« We examine if bond index and MSCI inclusion could significantly offset outflows,
but are doubtful for now.

CNY - anything left in reserve?

We forecast USD/CNY to rise to 7.25 by year-end 2017 based on sustained capital
outflows from China and the People’s Bank of China (PBoC) allowing the exchange rate
to depreciate accordingly. A key change in the PBoC’s new FX regime, announced in
August 2015, is to raise the influence of market forces over the exchange rate.

We showed that not all outflows are created equal. Some outflows are good and reflect
structural changes in China’s economy and liberalization of China’s financial account;
some outflows are ugly in the sense they represent illicit outflows. Yet both types of
outflows are influenced by policy uncertainty in China, which we showed can explain a
significant amount of capital outflows through Chinese purchases of overseas assets.

The impact of capital outflows alone on China’s FX reserves is negative. A decline in FX
reserves is also associated with an increase in volatility of the RMB (Chart 57). But the
negative impact on FX reserves may be offset by China’s trade balance. If China’s trade
balance and capital outflows are similar to that recorded in 2015 and 2016, then China’s
FX reserves would be between USD 2,600bn and USD 2,900bn in 2017. This represents
a fall of USD520-220bn given current FX reserves of USD3,120bn and would amount to
China having diminished control over its currency and higher CNY volatility - assuming
no dramatic changes to capital controls.

Chart 57: China FX reserves (down) and RMB volatility (up)

4,000 1,500
3,750 1,250
3,500 1,000
3,250 750
3,000 500
2,790 290
2,500 0
2011 2012 2013 2014 2015 2016

=== China FX reserves, USDbn === USDICNY 1Y rolling standard deviation, pips (RHS)
Source: BofA Merrill Lynch Global Research, Bloomberg

32 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 Bankof America
Merrill Lynch

HOUSE_OVERSIGHT_014762
"
IMAGES-003-HOUSE_OVERSIGHT_015468.txt,"MATTER

TECHNOLOGY

Roadmap to Alpha Centauri

Pick your favorite travel mode—big, small, light, dark, or twisted

BY GEORGE MUSSER

VER SINCE THE DAWN of the space age, a
quixotic subculture of physicists, engineers,

E

for starships, propelled by the imperative for humans
to crawl out of our Earthly cradle. For most of that
time, they focused on the physics. Can we really fly to
the stars? Many initially didn’t think so, but now we
know it’s possible. Today, the question is: Will we?
Truth is, we already are flying to the stars, with-
out really meaning to. The twin Voyager space probes
launched in 1977 have endured long past their original
goal of touring the outer planets and have reached
the boundaries of the sun’s realm. Voyager 1 1s 124
astronomical units (AU) away from the sun—that
is, 124 times farther out than Earth—and clocking
3.6 AU per year. Whether it has already exited the
solar system depends on your definition of “solar sys-

and science-fiction writers have devoted their

lunch hours and weekends to drawing up plans

tem,” but it is certainly way beyond the planets. Its
instruments have witnessed the energetic particles

and magnetic fields of the sun give way to those of
interstellar space—finding, among other things, what
Ralph McNutt, a Voyager team member and planetary
scientist, describes as “weird plasma structures” beg-
ging to be explored. The mysteries encountered by
the Voyagers compel scientists to embark on follow-
up missions that venture even deeper into the cosmic
woods—out to 200 AU and beyond. But what kind of
spacecraft can get us there?

Going Small: Ion Drives

NASA’s Dawn probe to the asteroid belt has demon-
strated one leading propulsion system: the ion drive.
An ion drive is like a gun that fires atoms rather than
bullets; the ship moves forward on the recoil. The sys-
tem includes a tank of propellant, typically xenon, and
a power source, such as solar panels or plutonium bat-
teries. The engine first strips propellant atoms of their
outermost electrons, giving them a positive electric
charge. Then, on the principle that opposites attract,

ILLUSTRATION BY CHAD HAGEN

7

HOUSE_OVERSIGHT_015468
"
IMAGES-007-HOUSE_OVERSIGHT_023164.txt,"OUP CORRECTED PROOF - FINAL, 10/9/2014, SPi

xxxii The Crooked Course

Territories and Personal Representative to the PLO and the Palestinian Authority at
our new headquarters in Gaza city. The PLO had regained its uncontested leadership,
and the Palestinian Authority received a massive financial boost with the influx of
donor money from across the world. Israel received a moral boost as a large number of
countries formally recognized its existence and established diplomatic relations.

A hallmark of the Declaration of Principles was the establishment of a gradual
approach to resolving the conflict. Gradualism now became the keyword for describing
the peace process. By breaking the overall goal of peace into manageable sections that
could be addressed in sequence, the Oslo process allowed for progress to be made and
trust to develop on less contentious issues before tackling more controversial topics like
Jerusalem, borders, security arrangements, and refugees, which could threaten to derail
any talks.

One of the principal advantages of the step-by-step or gradualist approach was that
it enabled the parties to reach compromises through ongoing dialogue and interaction
with each other by starting with the easiest issues and leaving the hardest for last. It
allowed for an incremental change in perceptions and political positions. Although
gradualism allowed success to be achieved in a variety of areas, moving the process
forward, at each stage, depended on the parties taking the bold steps necessary to fulfill
their respective commitments. The main weakness was slow movement in implemen-
tation, with progress falling behind agreed upon timelines. This led to periodic
disillusionment and back-sliding.

A recurrent problem was that the parties had failed to agree on a mechanism to
penalize non-compliance. This critical deficiency undermined progress. As leaders and
the political climate changed, so too did the resolve to implement.

Successful gradualism required the use of ambiguous language on the most conten-
tious issues: Jerusalem, borders, security, and refugees. The successive Israeli govern-
ments and the Palestinian leadership had substantially different views on the final
status of all four of these issues. The language contained within the Oslo documents, as
well as subsequent agreements, provides room for interpretation. Either side could
claim that the text represents their interests. This allowed leaders to go home to their
respective constituents and retain popular support.

Another practice that proved effective was the use of the annexes attached to agree-
ments to flesh out disruptive details, or to substantially water down the impact of
certain commitments made within the body of the text. In many cases the annexes are
exhaustively long and detailed but are rarely read by the public, affording the leaders
political space to make agreements that might otherwise face public criticism.

The three Israeli Prime Ministers who were in office from 1993 to 1999—Rabin,
Peres, and Netanyahu—approached the challenges of peace through a concept of
gradualism, postponing the tricky final status issues. Barak, who took office in 1999,
was the first Israeli Prime Minister to address the final status head-on with a “totalist”
approach (read below).

While the Oslo process was based on the concept of gradualism, characterized by
bilateral negotiations—facilitated by a third party—and cumulative small steps dem-
onstrating good faith, Ariel Sharon eventually took a contrary approach through
“uncompromising unilateralism”. The day after he won the election in February 2001,

HOUSE_OVERSIGHT_023164
"
IMAGES-004-HOUSE_OVERSIGHT_017079.txt,"Christine Harper
Matthew J. Harrington

Phillip J. Harrington
Erich Harsch
Stephanie Pullings Hart
Yasuchika Hasegawa
Muhadditha Al Hashimi
Joergen Ole Haslestad
Anne Hastings
Takashi Hatchoji

Gary A. Haugen

Carl Hausmann
Ricardo Hausmann
Julien Hawari

Michael Hay

Yasuo Hayashi
Richard Haythornthwaite
He Yafei

Jeffrey Hedberg
Connie Hedegaard
Hassan Heikal
Stephan Heimbach
Axel C. Heitmann
Jochem Heizmann

Ulf Peter Hellstram

Gideon Henderson

Ulf Henriksson
Mary Kay Henry

Simon Henry

Hugh S. Herman
Paul Hermelin
Adolfo Hernandez
Diego Hernandez
Kenneth A. Hersh
Shannon S. Herzfeld

Rolf-Dieter Heuer

Uwe J. Heuser
Rob Heyvaert

William V. Hickey
Hans Hickler

Heinrich Hiesinger
Martin Hilb

Philipp M. Hildebrand

Chief Financial Correspondent
President and Chief Executive
Officer, USA

Executive Vice-President, Risk and
Chief Administrative Officer

Chief Executive Officer

Vice-President, Supply Chain and
Corporate Services
President and Chief Executive Officer

Chief Executive Officer

President and Chief Executive Officer
Managing Director

Representative Executive Officer and
Executive Vice-President

President and Chief Executive Officer

Managing Director, Global
Government and Corporate Affairs
Director, Center for International
Development

Co-Chief Executive Officer and
Editor-in-Chief

Professor of Management Practice in
Entrepreneurship

Chairman and Chief Executive Officer

Chairman of the Board of Directors
Ambassador and Permanent
Representative of the People's
Republic of China

Acting Chief Executive Officer
Commissioner, Climate Action,
European Commission, Brussels
Chief Executive Officer

Corporate Vice-President; Head,
Corporate Communications and
Government Affairs

Chairman of the Board of
Management

Member of the Board of Management
Senior Staff Correspondent
Co-Director, 21st Century Ocean
Institute, Oxford Martin School
Chief Executive Officer
International President

Chief Financial Officer

Chairman

Vice-Chairman and Chief Executive
Officer

President, Europe, Middle East and
Africa and Executive Vice-President
Chief Executive Officer

Founder and Chief Executive Officer

Vice-President, Government
Relations
Director-General

Economic and Business Editor
Corporate Executive Vice-President

President and Chief Executive Officer
Chief Executive Officer, Asia Pacific
Region

Chairman of the Executive Board
Managing Director

Chairman of the Governing Board,
Swiss National Bank, Switzerland

World Economic Forum Annual Meeting 2011

Bloomberg LP
Edelman

CA Technologies

dm drogerie markt GMBH +
Co. KG
Nestle - Jenny Craig Inc.

Takeda Pharmaceutical
Company Ltd

Mohammed Bin Rashid Al
Maktoum Academic Medical
Center

Yara International ASA
Fonkoze

Hitachi Ltd

International Justice Mission
(IJM)
Bunge Limited

Harvard Kennedy School
Trends
London Business School

Japan External Trade
Organization (JETRO)
MasterCard Worldwide
Permanent Mission of the
People's Republic of China

Telkom Group Limited

EFG Hermes Holding
Siemens AG

LANXESS AG

Volkswagen AG
Aftenposten
University of Oxford

Invensys Plc

Service Employees
International Union (SEIU)
Royal Dutch Shell Plc
Investec Ltd

Capgemini

Alcatel-Lucent

Corporacién Nacional del
Cobre de Chile (CODELCO)
NGP Energy Capital
Management

Archer Daniels Midland Co.
(ADM)

European Organization for
Nuclear Research (CERN)
Die Zeit

Fidelity National Information
Services, Inc.

Sealed Air Corp.

Agility

Thyssenkrupp AG

Institute for Leadership and
Human Resource
Management (IFPM)

USA
USA

USA

Germany

USA

Japan

United Arab Emirates
Norway

Haiti

Japan

USA

USA

USA

United Arab Emirates
United Kingdom
Japan

United Kingdom

Switzerland

South Africa

Egypt
Germany
Germany
Germany
Norway

United Kingdom

United Kingdom
USA

Netherlands
South Africa
France
France
Chile

USA

USA

Switzerland

Germany
USA

USA
Hong Kong SAR

Germany
Switzerland

HOUSE_OVERSIGHT_017079
"
IMAGES-008-HOUSE_OVERSIGHT_025236.txt,"US auto sales in the wake of Fukushima Itlooks like pent-up demand for Japanese cars has
MoM change in SAAR auto sales, millions of units caught up, SAAR million units
1.0 id

0.5

0.0

nn oS Ss oo

BJapan

-1.0
BUS+Other 4
Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 4
2009 2010 2011 2012
source: BEA Wards DB, J.P. Morgan Privale Bank. Box indicates impact Source: DB, JP. Morgan Private Bank. Shadings indicate Cash for
of Japanese earthquake, Clunkers and Japanese earthquake, respectively

So where does that leave the US payroll and growth picture?

The weakness in the payroll report was almost entirely concentrated in retailing. Net of distortions and seasonal
adjustments, it looks like payroll growth is running at 150-175k per month, and GDP growth is running at a 2.25% trend
pace, both below prior recoveries. While 2.25% is a barn-burner compared to Europe, it only corresponds to a modest
improvement in employment. That’s why 2013 US fiscal policy is so important: this is not a recovery that can
withstand much tighter fiscal conditions.

So, how tight is US fiscal policy supposed to get next year?

Very, if you look at what is supposed to happen according to current law. In the chart, we show the annual change in the
budget deficit over the last 25 years. The impact of all provisions scheduled to expire and kick in during 2013 would be
very large. But if Congress and the President elect to extend current tax rates, retain lower payroll tax rates and extended
jobless benefits, etc, the adjustment would not be as big, and only reflect expiration of Recovery Act provisions, the
recently passed Budget Control Act, and some other smaller provisions. There are of course plenty of permutations in
between.

Wide range of outcomes for 2013 austerity Policies set to expire or take | Fiscal Drag (%
Change in cyclically-adjusted federal deficit, % of potential GDP effect under current law of 2013 PGDP)

] Sequester Automatic Cuts

5 4 9,
44 = — (Discretionary Spending) 0.4%
34 Sequester Automatic Cuts
2013 3 0.1%
27 scenario (Mandatory Spending)
14 estimates Bush Tax Cuts ($250k+ ;
| 0.3%
0 ncomes, Estate Tax)
14 l Congress Bush Tax Cuts (Middle Income) 0.9%
-2 4 | punts Alternative Minimum Tax 0.8%
2] Payroll Tax Cut 0.6%
= Current yU | t
4 .Fiscaldrag law Pllecamkett nemploy men 0.2%
1963 1968 1973 1978 1983 1988 1993 1998 2003 2008 2013 mpensation
Source: CBO, IMF, Goldman Sachs, J.P. Morgan Private Bank Affordable Care Act 0.2%

Source: CBO, Goldman Sachs

What direction is the Congress heading, and what did Larry Summers and Brad DeLong have to say about this recently?
Political outcomes this fall will affect what Congress does, but I get the sense that they will punt fiscal adjustments into
the future if they can, and impose austerity of no more than 1% of GDP in 2013. Ifso, Congress can point to a March
2012 paper by Summers and DeLong as justification. The bottom line from the paper: don’t tighten fiscal policy when
interest rates are near zero. The authors assert that (a) additional government spending can ease the long-term budget
constraint in conditions similar to today’s, and (b) tightening policy now would risk permanent loss of human capital,
lower labor productivity growth and lower trend growth. They have held these views for a while; the paper appears
designed to convince others.

Advocates for more fiscal and monetary stimulus often point to the charts below. Rising Federal debt has not resulted in
higher interest rates, so why not keep borrowing more? As for the Fed, balance sheet expansion prevented deflation and

HOUSE_OVERSIGHT_025236
"
IMAGES-003-HOUSE_OVERSIGHT_014776.txt,"Tail risk 4: Bo) triggers curve steepening and vol rise

Bo) keeps yield curve anchored out to 10y: 1y10s20s conditional bear steepener
The Bank of Japan (Bo)) has faced a tough 2016. Having switched its policy target from
quantity to interest rates at its September Monetary Policy Meeting, it tacitly
acknowledged that negative rates and JGB purchases were potentially approaching their
limit in terms of policy effectiveness. Inflation expectations fell and the yen
strengthened as a consequence as the market got accustomed to fading dovish
pronouncements from the Bank of Japan. Bo) Governor Haruhiko Kuroda himself said
“Central banks are, admittedly, not omnipotent.""

The Bo) introduced yield curve control, taking into consideration negative effects of
great decline in yields and curve flattening on financial institution earnings or financial
markets. If the Bo) keeps purchasing at the current rate, however, yields will sooner or
later feel downward pressure. We believe the Bo) is likely to reduce its long-term J)GB
purchase gradually. For the time being, JGB yield guidelines are probably around 0% for
the 10yr, 0.4% for the 20yr, and 0.5% for the 30yr JGB.

However, the Bo) appears to be concerned about the deterioration of financial
institution earnings caused by flattening of the yield curve. Kuroda said that even if
superlong-term yields rose slightly, he did not believe they would have to be lowered. He
went on to say he was also giving consideration to investors in superlong-term bonds,
and that he did not think it was good for the yield curve to get continually flatter. Based
on these and other remarks, we expect long-term JGB purchase operations to be
reduced and the curve to gradually steepen (Rates forecast: Attention on Bo) operations

when yields decline).

Before that can happen, however, preconditions most likely include steady progress in
US rate hikes, avoidance of excessive yen appreciation, and some degree of recovery in
the inflation rate. With a Republican clean sweep, US fiscal easing is now a foregone
conclusion and “Higher rates and higher dollar” may support our view for yen rates. If
JGB purchase operations were reduced and yen rates rose in the wake of higher US
Treasury yields and USD/JPY appreciation, that could easily be explained by
fundamentals.

Yen rates volatility is still low; however, purchasing cuts by the Bo) could add to
volatility risk amid declining liquidity in the super long-end (Chart 78). Even if risk-off
sentiment pushes down the yield curve, the Bo) may lower the 10yr JGB yield target
from zero to keep the curve steep. This kind of policy change also could increase
volatility. In either case, the 10yr is expected to be anchored and movement is expected
in the long end. We believe 1y10s20s conditional bear steepener may mitigate this risk.

Trade recommendation: Long S5bn 1y20y @0.62% (atm+11bp) payer vs Short 9.9bn
1y10y @0.18% (atm) payer. This position is zero cost, PVO1 neutral, and zero carry.
Risk Is the curve remains flat due to a deflationary backdrop.

Chart 78: JPY Swap 10y and 20y rate and 1y2Oy volatility

, oh) JPY Swap 10y JPY Swap 20y ———‘y20y Volatility (RHS) (bp}y
1 50
08 40
06
30
04
02 ad
0 10
-0.2 0
Nov-15 Feb-16 May-16 Aug-16 Nov-16

Source: BofA Merrill Lynch Global Research

BankofAmerica <2”

46 Global Rates, FX & EM 2017 Year Ahead | 16 November 2016 .
Merrill Lynch

HOUSE_OVERSIGHT_014776
"
IMAGES-009-HOUSE_OVERSIGHT_027068.txt,"By Keith Larsen | October 11, 2018 06:15PM

Palm House Hotel, Related Companies Stephen Ross600
An affiliate of the Related Companies has emerged as the initial bidder for the Palm House Hotel as the
failed condo-hotel project heads to a bankruptcy auction.

The stalking horse bidder, RREF II PALM HOUSE LLC, has the same address as Related Companies in
New York and is led by Related Companies Managing Principal Justin Metz, according to a filing in U.S.
Bankruptcy Court. The company is offering $32 million for the property, which will set the floor price

for a bankruptcy auction scheduled for next month. Bids at the auction will start at $32.5 million.

The 79-unit condo-hotel project on Palm Beach Island stalled in 2014 and its former developer now
faces allegations of fraud by the Securities and Exchange Commission and a group of EB-5 investors. In
August, the property filed for bankruptcy under its court appointed receiver with creditors claims totaling
$115 million.

Cushman & Wakefield’s Robert Given, Errol Blumer, Michael Mulkern and Robert Kaplan are the
exclusive marketing advisers for the property. The auction is scheduled for 10 a.m. on November 16,
2018 in West Palm Beach.

Given said he expects the property to sell for up to $40 million and it could be the last opportunity for a
developer to own a hotel in the wealthy enclave of Palm Beach. He said the next owner will likely not
redevelop the property. Instead, the best option would be to continue renovating the existing project

which could take more than a year to complete, Given said.

By auctioning the project through a bankruptcy sale, it will be offered free and clear from any liens. The
bankruptcy also means that the new owner will not have any responsibility for the issues stemming

from EB-5 investors who had invested in the property.

The 82,648-square-foot project was first developed in 1961 and expanded in 1981. The property was set
to be renovated by a group led by developer Robert Matthews.

HOUSE_OVERSIGHT_027068
"
IMAGES-002-HOUSE_OVERSIGHT_013450.txt,"— “«.

“OSCARS

Winner Woody Allen may have missed Hollywood's
biggest lovefest, but intrepid iber movie publicist
Peggy Siegal was there for

every single party and every single
step of the red carpet way. This
year, her exclusive Oscar diary
chronicles close encounters with
Michelle Williams, Meryl Streep,
Harvey Weinstein, Nancy Reagan,
Elizabeth Olsen, George Clooney
and his French doppelganger
Jean Dujardin and, of course, Uggie.

photographs by Patrick McMullan and Billy Farrell Agency

HOUSE_OVERSIGHT_013450
"
TEXT-001-HOUSE_OVERSIGHT_026204.txt,"From: 
Sent: 9/24/2017 11:02:00 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
very wellci4 
Sent from my iPhone 
On Sep 24, 2017, at 1:48 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
get some rest. I need you healthy 
On Sun, Sep 24, 2017 at 6:46 AM, < 
enjoy it sheik jeffreyi 
wrote: 
Sent from my iPhone 
On Sep 24, 2017, at 1:32 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
perfect. I 11 be in paris oct 6 
On Sun, Sep 24, 2017 at 6:31 AM, wrote: 
00 
i didnt get a good rest this month.. i think it is better to meet him in kuwait .. man do you love cuba that 
much° 
whenever you want .. november or before .. just send me an email and i will take care of your visit 
Sent from my iPhone 
On Sep 24, 2017, at 1:22 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
why are you up so early.? you need rest. - ! , I wanted you to know that If you think I should meet your 
boss in New York , where there is less pomp I can do so. / are you having fun? 
On Sun, Sep 24, 2017 at 4:20 AM, < > wrote: 
i didnt understand what you mean? do you want me to stay? or you want to see my boss? 
Sent from my iPhone 
On Sep 24, 2017, at 8:35 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
If you think wise I could come to New York sunday evening and also leave tues 
On Sat, Sep 23, 2017 at 9:38 PM < > wrote: 
i got to ny today.. i hope you are having good time, as for my boss he is leaving tuesday i m travelling 
back to europe tomorrow, if not, monday for sure. lets hope that we see you next in kuwait 
Sent from my iPhone 
HOUSE OVERSIGHT 026204 
On Sep 22, 2017, at 6:27 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
how long will you stay in new york how long will the old man be there? 
On Fri, Sep 22, 2017 at 11:15 AM, < > wrote: 
that is nice of you .. you keep hosting us .. we need to see you in kuwait 
will write more once i arrive and see my dear old man sunday 
Sent from my iPhone 
On Sep 22, 2017, at 2:38 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
i dont know your plans but of course you are always invited to visit. florida. if i am here 
On Thu, Sep 21, 2017 at 10:43 PM, <________________________> wrote: 
very well .. safe travel 
Sent from my iPhone 
On Sep 22, 2017, at 1:14 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
i will return to new york wednesday or tues day night. . 
On Thu, Sep 21, 2017 at 5:56 PM, < > wrote: 
enjoy 
Sent from my iPhone 
On Sep 21, 2017, at 11:36 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
in florida, 
On Thu, Sep 21, 2017 at 3:23 PM, <_______________________> wrote: 
hey shiek i will be in new york saturday for a day trip .. i can drop by to say hello saturday night.. if 
you bussy dont worry, we can meet in kuwait in nov inshalla 
Sent from my iPhone 
On Sep 21, 2017, at 1:35 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
only you please 
On Wed, Sep 20, 2017 at 6:26 PM, < 
thnx jeff i m praying44 
> wrote: 
Sent from my iPhone 
On Sep 21, 2017, at 1:17 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
the book worked. :) 
HOUSE OVERSIGHT 026205 
On Wed, Sep 20, 2017 at 5:57 PM, < > wrote: 
only for you .. trump is on the phone today.. it is possible any minute that all parties will be on one 
table in new york including my dear old man to put an end to this 
Sent from my iPhone 
On Sep 20, 2017, at 11:51 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
Im certain you understand - I'm sure you will have a great new year . No need to respond 
please note 
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HOUSE OVERSIGHT 026206 
communication or any part thereof is strictly prohibited 
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Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 026207 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
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communication in error, please notify us immediately by 
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destroy this communication and all copies thereof, 
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communication in error, please notify us immediately by 
HOUSE OVERSIGHT 026208 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
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destroy this communication and all copies thereof, 
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please note 
The information contained in this communication is 
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Unauthorized use, disclosure or copying of this 
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communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 026209 
"
TEXT-001-HOUSE_OVERSIGHT_029137.txt,"From: Robert Kuhn 
Sent: 12/31/2017 9:32:53 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: Kuhn - Math, Breakthroughs 
Importance: High 
OK 
On Dec 31, 2017, at 4:32 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
5 min 
On Sun, Dec 31, 2017 at 4:21 PM, Robert Kuhn < > wrote: 
Ready when you are - let me know and I can call. 
Skype 
FaceTime = email. 
On Dec 31, 2017, at 5:50 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
either 
On Sat, Dec 30, 2017 at 8:58 PM, Robert Kuhn< wrote: 
After 4 good. 
Skype? FaceTime? Phone? 
On Dec 30, 2017, at 8:57 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
guest s here until 4. after good 
On Sat, Dec 30, 2017 at 8:04 PM, Robert Kuhn < > wrote: 
Tomorrow Sunday after 1:00 pm? Flexible. Anytime. 
Skype? FaceTime? Phone? 
On Dec 29, 2017, at 3:27 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
weekend easy 
On Fri, Dec 29, 2017 at 3:21 PM, Robert Kuhn <1..1> wrote: 
Terrific; looking forward. 
Excited to go through math candidates on the list, others too. 
HOUSE OVERSIGHT 029137 
Equally important, discuss edits/modifications to the 13 episodes (cutting blahs), expanding math episodes - 
see below. Assuming we expand math episodes, we will need more mathematicians. 
How's late afternoon after 5:30 pm / early evening today? - or weekend, day/times? (Family issues today - 
mother 102 in May.) 
RADICAL BREAKTHROUGHS - Initial Revisions (working model for discussion, red is new) 
Expand and Modify Mathematical Breakthrough episodes 
1. Mathematics and Truth / Overview / Show Excitement/Importance 
2. Mathematical Fields / Diverse New Kinds and Categories 
3. How Math Works in Disparate Areas of Knowledge (from fundamental physics to chemistry, 
biology [molecular and evolutionary[, psychology, sociology, economics, etc.) 
4. Power Laws 
5. Mathematical Biology 
6. Foundations of Mathematics / Philosophy/Meaning of Math (discovered/invented?) 
ADD/Exchange to Biological Breakthrough episodes 
9/10. Replicability Crisis - Problems in Statistics in Search for Truth. Deep problems of replicability 
in biomedical and psychological research - the scandal in recent years. 
In the non-Closer To Truth world.... 
Did CNN Intl this morning on Trump's China-oil-N.Korea-cheating tweet ""Caught RED HANDED..."" 
[pun deliberate] 
My favorite fun lines (there are so many) in Trump's NYTimes spontaneous interview. 
2) ""I like very much President Xi. He treated me better than anybody's ever been treated in the history of 
China."" 
Ever (-5,000 year history) 
1) ""I know the details of taxes better than anybody___better than the greatest CPA."" 
Not, mind you, CPAs in general, not even smart Jewish CPAs who work all the time - but whoever, out 
of 664,532 actively licensed CPAs (2016), is the greatest CPA of them all (#1 in citing code? creative 
deductions?) - better than him! 
HOUSE OVERSIGHT 029138 
On Dec 29, 2017, at 6:19 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
lets talk today. I went through the candidates in math. . we should talk, I have great hopes for this and 
am sure you woudl want to get it right though some of the math people write well , their speakinn style 
and presence is less than A , and probaby closer to a C +/ . Im around today or hte weekend if you 
would like to chat. 
On Fri, Dec 29, 2017 at 1:45 AM, Robert Kuhn <I> wrote: 
`Blahblahs' forbidden in 'Radical Breakthroughs'. So we need two replacements (for Multiverse as Science 
and Rare Sentience). 
Initial ideas: 
* Expand the first episode ""Mathematics and Truth"" into two or likely three episodes. I'm intrigued by this 
because there is so much rich material - pure math, philosophy (discovered or invented), physics (Wigner's 
'unreasonable effectiveness of mathematics in the natural sciences)', astrophysics, cosmology, biology, 
general systems theory. I've felt frustrated in this first episode because there is so much material. I think 
three episodes could work - if you agree, I'll get back to you with a suggested structure of the 2 or likely 3 
parts. Also, Closer To Truth has had only a few videos and one episode on mathematics per se (out of 277 
episodes!), so this would be original and complementary. In this may, math would become about half the 
series. 
* Integrated Information Theory - quantifying and explaining consciousness (Giulio Tononi, Un 
of Wisconsin-Madison), plus supporters and critics. New controversial, science-based radical theory. 
* Evolutionary Dynamics - your program at Harvard - mathematical models. This is not an area of my 
expertise, but it could well fit Closer To Truth in general and Radical Breakthroughs in particular. But you 
need to tell me if you would like to include this. 
* Replicability Crisis - Problems in Statistics in Search for Truth. Deep problems of replicability 
in biomedical and especially psychological research - the scandal in recent years. See links and attachments. 
https://en.wikipedia.org/wiki/Replication crisis  
https://www.nature.com/news/over-half-of-psychology-studies-fail-reproducibility-test-1.18248  
http://science.sciencemag.org/content/349/6251/aac4716  
""Replicability vs. Reproducibility"" - http://www.replicability.tau.ac.il/index.php/replicability-in-
science/replicability-vs-reproducibility.html  
Five Ways to Fix Statistics - Nature [attached]. 
* Other possibile areas you suggest 
We would like to set a mutually agreed schedule so we can confirm and reserve the Closer To Truth 
'season' of 13 episodes for 'Radical Breakthroughs', which we need to plan well in advance - especially as 
we begin 2018. 
HOUSE OVERSIGHT 029139 
See you Jan. 5 - Looking forward to brainstorming. 
Robert 
On Dec 28, 2017, at 7:40 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
great work , but needs some editing, did not like multi verse and sensience. seems more blahblah 
On Mon, Dec 11, 2017 at 12:50 AM, Robert Lawrence Kuhn < wrote: 
Hi: When are you back in NY? 
Attached is the complete Preproduction Book for Radical Breakthroughs - now including Misha Gromov! 
Love your feedback, suggestions. 
Also attached is the budget and timing of funding, as presented originally, now updated for the completion 
of preproduction (phase I). We are ready to go into production (phase II). See Budget, p. 4. Committed and 
excited. 
When to meet? 
Robert 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029140 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029141 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029142 
"
IMAGES-002-HOUSE_OVERSIGHT_012996.txt,"80 4 Brief Survey of Cognitive Architectures

4.5.2 The Society of Mind and the Emotion Machine

In his influential but controversial book The Society of Mind [Min&8], Marvin Minsky described
a model of human intelligence as something that is built up from the interactions of numerous
simple agents. He spells out in great detail how various particular cognitive functions may be
achieved via agents and their interactions. He leaves no room for any central algorithms or
structures of thought, famously arguing: “What magical trick makes us intelligent? The trick
is that there is no trick. The power of intelligence stems from our vast diversity, not from any
single, perfect principle.”

This perspective was extended in the more recent work The Emotion Machine [Min07], where
Minsky argued that emotions are “ways to think” evolved to handle different “problem types”
that exist in the world. The brain is posited to have rule-based mechanisms (selectors) that
turns on emotions to deal with various problems.

Overall, both of these works serve better as works of speculative cognitive science than as
works of AI or cognitive architecture per se. As neurologist Richard Restak said in his review
of Emotion Machine, “Minsky does a marvelous job parsing other complicated mental activities
into simpler elements. ... But he is less effective in relating these emotional functions to what’s
going on in the brain.” As Restak added, he is also not so effective at relating these emotional
functions to straightforwardly implementable algorithms or data structures.

Push Singh, in his PhD thesis and followup work [SBC05], did the best job so far of creating
a concrete AI design based on Minsky’s ideas. While Singh’s system was certainly interesting,
it was also noteworthy for its lack of any learning mechanisms, and its exclusive focus on
explicit rather than implicit knowledge. Due to Singh’s tragic death, his work was never brought
anywhere near completion. It seems fair to say that there has not yet been a serious cognitive
architecture posed based closely on Minsky’s ideas.

4.5.3 DUAL

The closest thing to a Minsky-ish cognitive architecture is probably DUAL, which takes the
Society of Mind concept and adds to it a number of other interesting ideas. DUAL integrates
symbolic and connectionist approaches at a deeper level than CLARION, and has been used
to model various cognitive functions such as perception, analogy and judgment. Computations
in DUAL emerge from the self-organized interaction of many micro-agents, each of which is
a hybrid symbolic/connectionist device. Each DUAL agent plays the role of a neural network
node, with an activation level and activation spreading dynamics; but also plays the role of
a symbol, manipulated using formal rules. The agents exchange messages and activation via
links that can be learned and modified, and they form coalitions which collectively represent
concepts, episodes, and facts.

The structure of the model is sketchily depicted in Figure 4.10, which covers the application
of DUAL to a toy environment called TextWorld. The visual input corresponding to a stim-
ulus is presented on a two-dimensional visual array representing the front end of the system.
Perceptual primitives like blobs and terminations are immediately generated by cheap parallel
computations. Attention is controlled at each time by an object which allocates it selectively
to some area of the stimulus. A detailed symbolic representation is constructed for this area
which tends to fade away as attention is withdrawn from it and allocated to another one. Cate-

HOUSE_OVERSIGHT_012996
"
IMAGES-003-HOUSE_OVERSIGHT_016161.txt,"Health: Not Tremendously Prescriptive

Vision 2030 a start but Needs Transparent Proposals

The Saudi government’s Vision 2030 document calls for an improvement in healthcare
in Saudi Arabia. The private healthcare sector has some role to play; the National
Transformation Plan (NTP) targets the private sector to be responsible for funding 35%
of healthcare spend in 2020, up from 25% today. How it intends to do this is uncertain.
We believe the incumbent private hospital operators, including listed companies (Al
Hammadi, Care, Dallah, MEAHCO and Mouwasat) should be beneficiaries of increased
private sector funding, although increased investment would be needed to meet growth
in demand longer-term.

Improve public facilities, work towards privatisation

The government wants to step back from financing and providing healthcare and adopt
an oversight and regulatory role. Firstly the government wants to improve the quality of
care offered in the public sector, with the eventual aim of working towards privatisation
of public assets and healthcare provision. This implies no privatisations short-term.

Near-term: Management contracts for public hospitals

In the near-term the government could seek to improve healthcare provision in the
public system by using private sector expertise, through, e.g. contracting management
of public facilities to the private sector. Individual such contracts are unlikely to
transform company earnings, and the small size of existing Saudi hospital groups limits
the depth of management available to capture large contracts, in our view.

Long-term: insurance coverage up to 31m from 10.5m

In the long-term a widespread adoption of private health insurance is likely to raise
volumes, spurring an increase in private healthcare capacity, either from organic
investment or participation in privatisations. In Saudi currently, 10.5m/31m people have
insurance. We assume a more universal scheme would offer lower pricing than that
today, and listed incumbents would need to make a cultural shift towards addressing
this market. Such a market could attract new competitors, domestic or foreign.

Type of insurance system and reimbursement uncertain

We believe reimbursement levels would need to be known before privatisations can
occur so bidders can budget and estimate their return on capital. It is still uncertain
whether the government would seek to introduce insurance through the incumbent
private operators (Bupa Arabia, Medgulf and Tawuniya) or set up its own insurance
company e.g. an Abu Dhabi-style Daman. Nor whether it would subsidise premiums or
simply force the private sector to employ more Saudis.

Government needs to improve private sector relations

At present the government has not paid private hospitals for the treatment of public
patients referred to them for over a year. Until the relationship improves, engaging with
the private sector could be difficult.

Healthcare implications of National Transformation Plan

The Saudi government’s Vision 2030 document calls for an improvement in healthcare
in Saudi Arabia. The private healthcare sector is likely to be a beneficiary both in the
short-term and long-term. In the short-term the National Transformation Plan (NTP)
targets the private sector to be responsible for funding 35% of healthcare spend in
2020, up from 25% today. In the longer-term, the Saudi government wants to remove
itself from directly providing and financing healthcare, instead focussing on public
health and the regulation of the healthcare sector. Raising private sector funding
thresholds to 35% appears possible if a number of measures are used, e.g. more
rigorous enforcement of requirement that Saudis working in private sector hold
insurance could increase penetration by 6% alone. The quality targets set for the public
sector do not appear unduly onerous in theory, but execution remains key.

OS Merrill Lynch GEMs Paper #26|30June 2016 51

HOUSE_OVERSIGHT_016161
"
IMAGES-005-HOUSE_OVERSIGHT_018703.txt,"The Game: All Things Trump

Andres Serrano

""In the history of science the collector of specimens
preceded the zoologist and followed the exponents of
natural theology and magic..... However lowly, the work
of the collector must be done, before he can proceed to
the higher scientific tasks of classification, analysis,
experiment and theory making.""

Aldous Huxley from Heaven and Hell

HOUSE_OVERSIGHT_018703
"
IMAGES-010-HOUSE_OVERSIGHT_029808.txt,"the lead-up to Iraq's invasion in 1990.
When faced with a build-up of Iraqi
forces along its border, Kuwait decided
not to mobilize its military out of fear
that the move would provoke Saddam
Hussein. The incentives for Gulf states to
make similar strategic calculations in the
future will be greater when Iran has an
inventory of nuclear weapons to match its
growing ballistic missile capabilities.

The Gulf states, moreover, will likely
reason that the U.S. capability to threaten
or use force against a nuclear Iran will be
significantly diminished. Even without
nuclear weapons, Gulf states have seen,
in their view, a long history of American
reluctance to threaten or use force against
Iran. For example, the United States took
no direct military action against Iran after
it aided and abetted Hezbollah bombings
against Americans in Lebanon in the
1980s, after Iran supported the bombing
of Khobar Towers in Saudi Arabia in
1996, or even after Iran supported the
deadly campaign of improvised explosive
devices (IEDs) against U.S. troops in
Iraq. Gulf states will no doubt judge that
if the United States was unable and
unwilling to attack Tehran under these
circumstances, then it is certainly not
going to attack Iran in the future, when it
will be able to retaliate with nuclear
weapons.

HOUSE_OVERSIGHT_029808
"
TEXT-001-HOUSE_OVERSIGHT_029889.txt,"From: Jessica Cadwell 
Sent: 8/11/2009 7:16:00 PM 
To: Robert D. Critton Jr. [ 
Deeyacation@gmail.com] 
CC: Connie Zaguirre 
Subject: FW: Jane Doe 
; Jack Goldberger ; Jeffrey Epstein 
frJaca &dazeEE e9), Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Tuesday, August 11, 2009 3:19 PM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Trump has been moved to Sept. 24. 
From: Jessica Cadwell [mailto 
Sent: Tuesday, August 11, 2009 3:00 PM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
Please let me know when u do. 
frJaca &ilthe& e9), Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Tuesday, August 11, 2009 2:55 PM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Yes — we are still trying to get the details though 
From: Jessica Cadwell [mailto 
Sent: Tuesday, August 11, 2009 2:27 PM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
HOUSE OVERSIGHT 029889 
Does this mean you have service on Maxwell 
frJaca &dwelt, 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Tuesday, August 11, 2009 2:30 PM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
From: Jessica Cadwell [mailto 
Sent: Tuesday, August 11, 2009 11:28 AM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
Do you have service on Maxwell or still trying to subpoena her?? 
frJaca &dazeEE e Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Tuesday, August 11, 2009 11:28 AM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Please notice the deposition of Ms. Maxwell has been rescheduled from 8/17 to 9/23. A re-Notice of Taking Deposition 
will follow. Mr. Trump's deposition is scheduled for August 18, 2009. 
From: Jessica Cadwell [mailto 
Sent: Monday, August 10, 2009 3:31 PM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
No not likely. They just filed an emergency protective order 
frJaca e Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
HOUSE OVERSIGHT 029890 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto _______________________________ 
Sent: Monday, August 10, 2009 3:18 PM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Jessica — is the depo of 
going forward on Friday 
From: Jessica Cadwell [mailtoi_____________________________ 
Sent: Monday, August 10, 2009 12:10 PM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
I didnt forget about this... 
Still working on it. 
frJge..a &dazeEE e9), Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Thursday, August 06, 2009 10:47 AM 
To: Jessica Cadwell 
Subject: RE: Jane Doe 
Jessica — I need a date for the deposition of Mr. Epstein. Can you provide me with one please? 
From: Jessica Cadwell [mailto: 
Sent: Thursday, August 06, 2009 10:20 AM 
To: Jacquie Johnson 
Subject: RE: Jane Doe 
Great thank you. Do you have your Stays signed yet? 
frJge..a e9), Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach, FL 33401 
Tel: / Fax: 
Email: 
From: Jacquie Johnson [mailto 
Sent: Thursday, August 06, 2009 9:59 AM 
HOUSE OVERSIGHT 029891 
To: Jessica Cadwell; Bradley J. Edwards 
Cc: Robert D. Critton Jr. 
Subject: RE: Jane Doe 
Brad is out of the office until this afternoon — I will ask him then. 
From: Jessica Cadwell [mailto 
Sent: Thursday, August 06, 2009 9:51 AM 
To: Bradley J. Edwards 
Cc: Jacquie Johnson; Robert D. Critton Jr. 
Subject: Jane Doe 
Brad — 
In your answers to ROGS, you list Milton Center for girls as facility that Jane Doe attended. Milton Center is a 
Department of Juvenile Justice facility; therefore I will need to get her records from DJJ. DJJ will not release the records 
without a signed release by Jane Doe. I have attached a general HIPPA release for your review. Would you please have 
Jane Doe sign it? DJJ does not have a standard form. 
Also, will you agree to one more week on Responses to Net Wirth ROGS?? 
Please let me know. 
Jess — 
frJaca &dazeEE e9), Yccia' 
Certified Paralegal 
Florida Registered Paralegal 
BURMAN CRITTON LUTTIER & COLEMAN, LLP 
515 N. Flagler Drive 
Suite #400 
West Palm Beach FL 33401 
Tel: / Fax: 
Email: 
HOUSE OVERSIGHT 029892 
"
IMAGES-001-HOUSE_OVERSIGHT_011799.txt,"/ BARAK / 42

negotiations. The first stirrings of discontent had begun even before I went to see
Clinton. On the basis of my commitment merely to try for peace, Arik Sharon had
presented a no-confidence motion in the Knesset. It was never going to pass. But
only days after I’d made him Interior Minister, Natan Sharansky let it be known he
was going to vote against us. He didn’t. He stayed away from the chamber, in
effect abstaining. But I’d been put on notice.

I did lose my first coalition partner in September: the small United Torah
Judaism party, with five Knesset seats. It wasn’t over land-for-peace. In an echo of
a similar crisis that brought down the government during Rabin’s first spell as
Prime Minister in the 1970s, it was over a violation of the Jewish Sabbath. It
turned out that Israel’s state electric company had been transporting a huge steam-
condensation machine from the manufacturing site near Haifa to a power plant in
Ashdod. The unit was the size of a small apartment. It weighed 100 tons. It
couldn’t be driven across the country without bringing weekday traffic to a
standstill. The obvious solution was to do it when road use was lightest, on
Shabbat. Precisely the same procedure had been followed — 24 times — under Bibi.
But when I asked a United Torah Judaism leader why he’d seemed happy when
Likud had waved it through, he replied: “Past sins cannot pardon future ones.” Eli
Suissa, one of the Shas ministers in the cabinet, took his side, saying: “Every hour
is good for the keeping of Shabbat.” Most other ministers agreed with me that we
should stand firm. So I did. But UTJ walked out of the government. Shas did
remain. But I was now increasingly certain that at some stage its ministers, too,
would leave.

In the midst of the Sharanksy rebellion, Haim Ramon, who was the minister in
charge of liaising with the Knesset, insisted I “punish” him for his political
grandstanding. “You should fire Sharansky. Act like a leader!” I just laughed. ‘““The
coalition doesn’t need a leader,” I replied. “It needs therapy.” In truth, I suspected
that if we ever got near to a peace agreement with Assad or Arafat, even therapy
might not help. But that was a main reason that I’d promised a referendum on any
final peace deals. I believed that in the choice between concessions, even painful
ones, and a genuine peace deal with Syria or the Palestinians, by far most Israelis
would choose peace.

I relied on a strong, close team around me, people I knew well and who shared
my determination to stay focused on the central goal: to put Israel in a position
where its citizens could be given that choice. I made Danny Yatom, my former

328
HOUSE_OVERSIGHT_011799
"
IMAGES-008-HOUSE_OVERSIGHT_026059.txt,"From: EL HACHEM Johny

Sent: 2/8/2017 12:01:12 PM

To: jeffrey E. [jeevacation@gmail.com]

cc: AdeR

Subject: Re: Edmond de Rothschild Infrastructure Expertise

Importance: — High

I agree with your analysis.

On the debt side the yield will be low for sure. Nevertheless by leading the consortium and by being the Equity
provider of the PPP than the double digit return will be possible

Happy to discuss further

Sent from my iPhone

On 8 févr. 2017, at 12:59, jeffrey E. <jeevacation@gmail.com> wrote:

thanks, the issue will be returns on investment. . there is a HUGE amount of cash sitting on the
sidelines. trump will want to do private public partnerships on most things. . donald loves the
rothschild name.

On Wed, Feb 8, 2017 at 7:23 AM, EL HACHEM Johnny aaa wrote:

Dear Jeff,

As previously discussed between you and Ariane, Edmond de Rothschild is deeply involved in the building and
financing of the infrastructure in Europe. Edmond de Rothschild has an outstanding track record, history and
presence in European infrastructure, as well as being one of Europe’s most recognized financial advisors to
the infrastructure market. We have developed deep expertise in the infrastructure sector and sought secure,
well-managed assets, generating stable, long-term returns for investors.

We have done so by initiating and backing two experienced and highly-respected managers in the industry,
TIIC and BRIDGE. TIIC is an equity investor in transport and social infrastructure. BRIDGE is an infrastructure
debt provider. Both managers are covered in more detail below. Edmond de Rothschild has been heavily
involved in the launch of the below funds, providing crucial support in fund structuring, due diligence, capital
raising, legal & compliance functions as well as the sound governance and ESG management across all funds.
Partnering with TIIC and BRIDGE has enabled Edmond de Rothschild to build a strong franchise within
infrastructure investments, complementing its overall Private Equity offering. Edmond de Rothschild has also
acted as anchor investor for these funds, demonstrating its strong alignment of interest with these
investment teams. With Ariane we strongly believe that we should absolutely find a way to collaborate
together with you to think and initiate something to serve the future needs of the US in the infrastructure
field.

Please find attached further information on each manager. This would also be a chance for us to explore
opportunities of working together in the future.

HOUSE_OVERSIGHT_026059
"
IMAGES-010-HOUSE_OVERSIGHT_030381.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 10/26/2015 6:08:48 PM
To: Melanie Spinella x 8 rad Wechsler [nn
Subject: draft

Importance: — High

phaidon and art space. combined basis 96 million , ( reviewed with brad and joe.) . add ten for
restructuring . basis 106. mi. subtract total sale price. for both, lets say approx $8-15m ._ leaving loss
of between 90 and 98 million long term loss. . AMT rate 28% obama. tax 3.8%. city and state

12% total aprox 43%. tax rate. savings 38.7-44m

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030381
"
IMAGES-002-HOUSE_OVERSIGHT_014459.txt,"Research Analysts

James Barty >> Ajay Singh Kapur, CFA >>

Investment Strategist Equity Strategist

MLI (UK) Merrill Lynch (Hong Kong)

+44 20 7996 3291 +852 3508 7753

james.barty@baml.com ajay.s.kapur@baml.com

Ronan Carr, CFA >> Shusuke Yamada, CFA >>

European Equity Strategist FX/Equity Strategist

MLI (UK) Merrill Lynch (Japan)

+44 20 7996 3292 +81 3 6225 8515

ronan.carr@baml.com shusuke.yamada@baml.com

Tommy Ricketts >>

European Equity Strategist

MLI (UK) >> Employed by a non-US affiliate of MLPF&S and is
ne 20 ata fs | not registered/qualified as a research analyst under the
ommy.ricketts@baml.com FINRA rules.

Barnaby Martin Refer to “Other Important Disclosures"" for information
Credit Strategist on certain BofA Merrill Lynch entities that take

MLI (UK)
+44 20 7995 0458
barnaby.martin@baml.com

responsibility for this report in particular jurisdictions.
This document is intended for BofA Merrill Lynch
institutional investors only. It may not be distributed

loannis Angelakis ; to BofA Merrill Lynch Financial Advisors, retail clients or
Credit Derivatives Strategist tail
ML! (UK) retail prospects.

+44 20 7996 0059
ioannis.angelakis@baml.com

Hans Mikkelsen

Credit Strategist

MLPF&S

+1 646 855 6468
hans.mikkelsen@baml.com

Abhinandan Deb >>
Equity-Linked Analyst

MLI (UK)

+44 20 7995 7148
abhinandan.deb@baml.com

Nitin Saksena
Equity-Linked Analyst
MLPF&S

+1 646 855 5480
nitin.saksena@baml.com

Benjamin Bowler
Equity-Linked Analyst
MLPF&S

+1 415 676 3595
benjamin.bowler@baml.com

lan Gordon

FX Strategist
MLPF&S

+1 646 855 8749
ian.gordon@baml.com

Kamal Sharma

FX Strategist

MLI (UK)

+44 20 7996 4855
ksharma32@baml.com

Claudio Piron

Emerging Asia FI/FX Strategist
Merrill Lynch (Singapore)

+65 6591 0401
claudio.piron@baml.com

David Hauner, CFA

EEMEA Cross Asset Strategist
MLI (UK)

+44 20 7996 1241
david.hauner@baml.com

Shyam S.Rajan

Rates Strategist
MLPF&S

+1 646 855 9808
shyam.rajan@baml.com

Mark Capleton

Rates Strategist

MLI (UK)

+44 20 7995 6118
mark.capleton@baml.com

28 Global Cross Asset Strategy - Year Ahead | 30 November 2016 Bankof America 2
Merrill Lynch

HOUSE_OVERSIGHT_014459
"
IMAGES-001-HOUSE_OVERSIGHT_011941.txt,"part-time jail, Epstein has become the focus of numerous civil lawsuits from his victims. He has
so far settled a dozen.

These same civil complaints allege that young girls from South America, Europe, and the former
Soviet republics, few of whom spoke English, were recruited for Esptein's sexual pleasure.
According to a former bookkeeper, a number of the girls worked for MC2, the modeling agency
owned by Jean Luc Brunel, a longtime acquaintance and frequent guest of Epstein's.

Brunel, along with numerous young models, was a frequent passenger on Epstein's private jet,
according to flight manifests. The agency owner also allegedly received $1 million from Epstein
in 2005, when he founded MC2 with his partner, Jeffrey Fuller; although Fuller and Brunel
denied any such payment from the billionaire pervert in 2007, when rumors started swirling,
Samoff got confirmation from a former bookkeeper at the agency. Whether the money was a
secret investment in MC2, or a payment for Brunel's services as a procurer, is unknown. Brunel

also visited Epstein in jail.

So who is Jean Luc Brunel? Although he did not respond to our interview request, we spoke to a
number of people who have worked with his agency. While MC2 isn't considered a major
industry player, it isn't exactly bottom-shelf, either: MC2 in New York most recently launched
the career of Latvian editorial star Ginta Lapina (Brunel ""discovered"" Lapina via an MC2
scouting competition for young teens) and currently represents Vogue China covergirl Liu Dan.
Worldwide, MC2 represents such stars as Sessilee Lopez in Miami, and top models Candace

Swanepoel, Marina Lynchuk, Natalia Chabanenko, and Elisa Sednaoui in Tel Aviv.

Brunel isn't involved with the business on a day-to-day basis, although he owns an 85% stake in
MC2. Instead, ""Right now he does scouting for [the] agency and takes care of the international
relations with other agencies,” reports one source. Scouts scour the world for un-agented
teenaged girls who could make it as models; they work largely unsupervised and are generally
paid a headhunting fee for every girl an agency signs. Even when affiliated with an agency, as
Brunel obviously is with MC2, scouts operate mostly independently and with little oversight —
even relative to the almost totally unregulated modeling industry itself. ""He travels a lot,"" says
another person who has worked with Brunel. (The company blog refers to Brunel as a ""scouting
tsunami,"" and MC2 is fairly well-known for the strength of its international scouting.)

Models we spoke to report mostly positive experiences with Brunel — one praised his sense of
humor and said he is “lovely to all of his models,"" and another described him as highly
intelligent and cultured, adding, ""he knows a lot about the opera and he paints"" — although it
should be noted that none of the models whom we spoke to had been told of either his
connections with Epstein, or his past.

And what a past it is. These accounts from Michael Gross' 1995 book Model describe Brunel's
activities in Paris from the late 1970s onwards, when he worked for, and eventually owned, the

modeling agency Karins, now known as Karin Paris:

“Jean-Luc is considered a danger,"" says Jér6me Bonnouvrier. ""Owning Karins was a dream for a
playboy. His problem is that he knows exactly what girls in trouble are looking for. He's always

30

HOUSE_OVERSIGHT_011941
"
IMAGES-006-HOUSE_OVERSIGHT_022155.txt,"James PaTTERSON

number and they called, is my recollection. That’s my best

recollection.

10:45 a.m.

Q: So from the very first conversation that you had with this
person, you had information indicating that this person was
informing you that Bradley Edwards had engaged in unethi-
cal conduct, correct?

A: Let me just be very clear what she said to me. She said to me
that she had been told directly by her friend Virginia Rob-
erts, who stayed with her overnight for a period of time, that
she never wanted to mention me in any of the pleadings. And
that her two lawyers in the pleadings, or her lawyers who
filed the pleadings, pressured her into including my name

and details.
Q: Did’Rebecca ever suggest to you that the details sworn to by
Virginia Roberts were false?
A: She certainly suggested that, yes. She mentioned to me that

Virginia R

yers, yes.
Q: So from the very first conversation, the impression you

was that this was a witness who could provide information ~
that Bradley Edwards and Paul Cassell had acted unethically q

and dishonestly, correct?
A: I wasn't sure she could provide the information b

was very reluctant to come for

258

oberts had never, ever mentioned [me to her],
among any of the people that she had had any contact with, 3
until she —until she was pressured into doing so by her law- ©

had ;

ecause She”
ward. She didn’t want to bey

le

involved. But I knew shi
yes, but I didn’t know, <
prepared to be a witne:
question.

11:08 a.m.

Q: Was any request made b

A: Yes.

Q: Let me back up then, if |]
you to do, based upon yo
much detail as you poss
said....

A: I’m not sure the request f
or the second call....Th
like to talk to your wife [I
down. I’m happy to talk
that they would think—:
her to think about it. An
few days and find out wt

were.

Q: Where were you when °
when you made this phon

A: I think I was in New York

/ Q Do you know whether tt

phone or a landline?

_ A: I don’t remember.

' Q: Have you attempted to gat

poses of responding to dis

HOUSE_OVERSIGHT_022155
"
IMAGES-001-HOUSE_OVERSIGHT_010487.txt,"Leslie Wexner, photographed
at his home in New York City,
1989 (© Lynn Goldsmith)

(Lto R) Jeffrey Epstein, Ghislaine
Maxwell, and Tony Randall, who
presided over a November 1991
YIVO Institute event at the Plaza
Hotel to honor the late Robert
Maxwell (Marina Garnier)

| (Lto R) Deborah

j, Blohm, Jeffrey Epstein,
Ghislaine Maxwell, and
Gwendolyn Beck attend a
reception at Mar-a-Lago,
1995. (Davidoff Studios)

Jeffrey Epstein, Donald Ss se
Trump, and (newly signed j=. 5
Trump Model) Ingrid
Seynhaeve, attending the ©
Victoria’s Secret Angels |
party at Laura Belle club §&
in New York City on April
8, 1997 (Marina Garnier)

HOUSE_OVERSIGHT_010487
"
IMAGES-002-HOUSE_OVERSIGHT_013336.txt,"43. Because Epstein became a convicted sex offender, he was not to have contact
with any of his victims. During the course of his guilty pleas on June 30, 2008, Palm Beach
Circuit Court Judge Deborah Dale Pucillo ordered Epstein “not to have any contact, direct or
indirect” with any victims. She also expressly stated that her no-contact order applied to “all of
theretation” Similar orders were entered by the federal court handling some of the civil cases
against Epstein. The federal court stated that it “finds it necessary to state clearly that Defendant
is under this court’s order not to have direct or indirect contact with any plaintiffs ... .” Order,
Case No. 9:08-cv-80119 (S.D. Fla. 2008), [DE 238] at 4-5 (emphasis added); see also Order,
Case No. 9:08-cv-80893, [DE 193] at 2 (emphasis added).

Edwards Files Civil Suits Against Epstein

44. Edwards had a good faith belief that his clients felt angry and betrayed by the
criminal system and wished to prosecute and punish Epstein for his crimes against them in
whatever avenue remained open to them. On August 12, 2008, at the request of his client Jane
Doe, Brad Edwards filed a civil suit against Jeffrey Epstein to recover damages for his sexual
assault of Jane Doe. See Edwards Affidavit, “N” at J7. Included in this complaint was a RICO
count that explained how Epstein ran a criminal conspiracy to procure young girls for him to
sexually abuse. See Complaint, Jane Doe v. Epstein (Exhibit “T’’).

45. On September 11, 2008, at the request of his client E.W., Brad Edwards filed a civil
auth against Jeffrey Epstein to recover damages for his sexual assault of E.W. See Complaint,

E.W. v. Epstein (Exhibit “U”).

18

HOUSE_OVERSIGHT_013336
"
IMAGES-011-HOUSE_OVERSIGHT_030910.txt,"just so you know.. you can read from bottom up.. you may be mad that I was blunt... haven't heard from
you.. hope all is well..

Begin forwarded message:

From: Rebecca Watson
Date: April 6, 2011 10:28:36 AM MST

To: Lawrence Krauss iii
Subject: Re: Statement in the Daily Beast?

Okay, will do.

On Wed, Apr 6, 2011 at 1:27 PM, Lawrence Krauss iE wrote:
ok.. I just sent an additional email which moderates this.. everyone was a victim, including Jeffrey here..
and there was no happy resolution.. please add.. ""probably everyone was a victim, with no happy resolution
or consequences of these activities"", after ""was the victim in this case.”.

On Apr 6, 2011, at 10:18 AM, Rebecca Watson wrote:

Okay, thanks for this statement . . . I'll print it in full along with the article, probably today. I very, very
strongly disagree with your position and hope you eventually reconsider, but I do appreciate you taking the
time to respond.

-R

On Wed, Apr 6, 2011 at 1:15 PM, Lawrence Krauss SE wrote:

jeffrey apparently paid for massages with sex... I believe him when he told me he had no idea the girls were
underage, and I doubt that people normally are asked for or present a driver's license under such
circumstances... Moreover, I also believe that Jeffrey is an easy target for those who want to take advantage
of him... Moreover, I can say with great honesty that Jeffrey's time in prison led him to seriously examine
his life in very positive ways and I don't believe in blanket condemnations of people. He served time for
something that was determined was inappropriate. I honestly don't know who was the victim in this case. I
fully expect that these masseuses knew what they were doing, and were not swayed to do anything with
Jeffrey that they were not already doing. That is not to approve of the whole behavior, but lots of peoplel
know and like have behavior I don't entirely approve of.. I know it is not politically correct to say that,
because in general this is a very sensitive issue and all other things being equal one should take the side of
the young women. But all things are not equal in this case, from my point of view. It is a judgement call,
and I will not turn my back on a good friend so easily.

On Apr 6, 2011, at 9:57 AM, Rebecca Watson wrote:

HOUSE_OVERSIGHT_030910
"
IMAGES-007-HOUSE_OVERSIGHT_023602.txt,"Volatility in Numbers (02-Jun-17)

Table 8: Statistics on implied, realised, skew and term structure for 3-month and 12-month vols (developed markets)

3-month {2-month
S&P500 ESTX50 FTSE DAX NKY HSI KOSPI S&P500 ESTX50 FTSE DAX NKY HSI KOSPI
Implied 9.5% 13.0% 10.6% 12.2% 14.2% 12.4% 12.8% 13.8% 16.5% 13.4% 16.1% 17.3% 15.9% 14.8%
%atile (2yr) 0.2% 0.0% 3.8% 0.0% 0.8% 2.6% 37.9% 2.6% 2.9% 5.7% 0.8% 3.9% 63% 32.4%

Week Change -0.1% -0.4% 0.4% -0.7% -0.2% 0.3% -0.3% -0.1% 0.1% 0.3% -0.3% 0.0% 0.2% 0.1%
1MthChange ss -0.6% = 1.4% = 0.1% == 1.3% 0.7% 0.0% 0.9% 03% 0.0% 05% 0.4% —--0.2% = 0.7% 1.6%
Realised 73% 11.1% = 9.1% =~ 10.0% »~=— 12.5% = 103% ~©= 11.0% «§=©96% = 16.8% 12.7% 158% 198% 13.7% 11.5%
%etile (2yr) 13.9% 11.8% 10.3% 1.0% 2.4% 0.6% 24.3% 1.6% 0.0% 0.0% 0.2% 14.7% 0.2% 24.5%

Week Change -0.4% -0.7% -0.6% -0.7% 0.1% -0.2% 0.1% 0.0% -0.3% 0.0% -0.1% 0.0% 0.1% 0.0%
{MthChange st 04% 0.7% 0.2% = 14% = 04% = 0.4% = 2.4% = 0.2% 0.7% 0.3% = 05% 0.6% 0.4% 0.4%
Imp-real spread 2.3% 19% = 14% 23% 17% 22% 18% 4.1% 02% 08% 03%  -25% 22% 3.3%
Spread %tile (2yr) 51.4% 53.4% 61.9% 63.3% 67.8% 69.9% 64.4% 81.5% 79.8% 73.3% 796% 61.2% 88.0% 72.9%

Week Change 0.3% 0.3% 1.0% 0.0% -0.3% 0.5% -0.4% -0.2% 0.3% 0.3% -0.2% 0.0% 0.3% 0.1%
(Mth Change 1.0% 0.6% 0.3% 0.1% -0.4% 04% 14% == 0.5% 0.6% 09% 0.1% 04% 1.1% 1.2%
90-110skew 79% 7.1% = 53%) 71% 50% 23% 3.0%

%atile (2yr) 4.6% 16.9% 1.1% 21.5% 19.0% 6.5% 2.7%
Week Change -0.9% -0.4% 0.4% -0.6% -1.0% -0.4% 0.2%
Mth Change 0.3% 0.8% 1.5% -0.4% -0.4% -0.7% -1.4%
10-day realised 12M - 3M term vol spread
S&P500 ESTX50 FTSE DAX NKY HSI KOSPI S&P500 ESTX50 FTSE DAX NKY HSI KOSPI
Current Level 6.6% 5.8% 4.6% 7.1% 11.1% 7.1% 10.6% 4.2% 3.6% 2.8% 3.8% 3.2% 3.5% 2.0%
%atile (2yr) 21.8% 2.1% 0.6% 6.7% 16.3% 0.4% 46.2% 99.6% 100.0% 86.2% 100.0% 99.6% 98.9% 53.1%
1Week Change -4.3% -4.1% -3.2% -0.6% 1.9% -0.9% 2.4% 0.0% 0.4% -0.1% 0.4% 0.2% 0.1% 0.4%
1Mth Change -1.0% -14.4% 12.7% -10.5% -14% -4.8% 0.3% 0.9% 1.3% 0.4% 0.9% 0.5% 0.7% 0.6%
Cash index
Current Level 2,439.07 3,591.82 7,547.63 12,822.94 20,177.28 25,924.05 307.83
1Wk Change 0.96% 0.36% 0.00% 1.75% 2.49% 1.11% 0.28%
1Mth Change 2.00% 0.38% 4.10% 2.52% 3.76% 497% 6.28%
Source: BofA Merrill Lynch Global Research
Table 9: Statistics on implied, realised, skew and term structure for 3-month and 12-month vols (emerging markets)
3-month {2-month
EEM US IBOV RDXUSD TOP40 EEM US IBOV RDXUSD TOP40
Implied 15.4% 25.3% 24.7% 15.1% 19.0% 24.4% 26.1% 17.4%
%atile (2yr) 4.0% 52.5% 13.4% 4.2% 6.9% 41.4% 12.1% 1.4%

Wk Change -0.1% 0.5% 1.2% 0% 0.3% 0.6% 0.2% 0.6%

Mth Change 0.8% 4.5% 1.0% 0.2% 1.6% 1.6% 0.3% -0.6%
Realised 133% 263% 218% 109% 180% | 229% 214% 14.9%
%atile (2yr) 8.1% 70.19% 31.4% 0% 13.3% 9.7% 2.0% 0.6%

Wk Change -0.8% -0.2% 0.0% 0.1% 0.0% 0.1% 0.0% 0.0%

Mth Change 0.8% 7.6% 2.1% 1.2% -0.3% 1.6% 0.0% -0.4%
Imp-realspread ss (i(itiHC(iti‘iS™S 1.0% ————«~O MH ss Ht—~—<=~Ssti‘“—s«~«~iMHSSC~<“<‘<‘“‘CSOC;é«*d*SSOCOC”!;”*”*;*;*C«!! OC
Spread %tile (2yr) 65.3% 24.4% 37.2% 76.4% 58.9% 67.9% 96.4% 44.1%

Wk Change 0.6% 0.8% 1.2% 0.9% 0.3% 0.5% 0.2% 0.6%
{MthChange 0.1% 3.0% -1.1% A% 1.9% 0.0% 03% 0.2%
90-110 skew 60% 49% BE
%tile (2yr) 1.1% 287% 188% 14.6%

Wk Change -0.5% 0.5% 0.1% 0.5%

Mth Change -0.4% -0.9% 0.4% 0.7%

10-day realised 12M - 3M term vol spread

EEM US IBOV RDXUSD TOP40 EEM US IBOV RDXUSD TOP40
Current Level 13.1% 17.7% 21.2% 10.0% 3.6% -0.9% 1.4% 2.3%
%atile (2yr) 23.0% 24.4% 31.8% 9.8% 98.7% 24.7% 79.9% 64.8%
1Wk Change 4.1% -32.0% -6.4% 5.0% 0.5% 0.0% -1.0% -0.4%
1Mth Change 1.2% -1.9% 8.2% -3.2% 0.7% -2.9% -0.8% -0.8%

Cash index

Current Level 41.76 62,510.70 1,189.17 46,522.53
1Wk Change 0.05% -2.46% -3.33% -2.13%
1Mth Change 2.91% -6.31% -6.17% -1.31%
Source: BofA Merrill Lynch Global Research
28 Global Equity Volatility Insights | 06 June 2017 ome orale

HOUSE_OVERSIGHT_023602
"
IMAGES-008-HOUSE_OVERSIGHT_025550.txt,"could supply such a “secure line.” Kislyak then used an open phone line at his embassy to relay
Kushner’s response to his foreign ministry in Moscow. It is inconceivable that Kislyak did not
know that the call would be monitored by the FBI, since the FBI had routinely listened in on these
lines for the past 68 years, or that his discussion of Kushner’s request would set off alarm bells in
the intelligence community.

If Kislyak had wanted to hide this exchange from U.S. intelligence, he could have easily sent it
under diplomatic cover directly to Moscow, used a secure line, or relayed it in a coded fashion. By
communicating the message en clair, or in plaintext, Kislyak skillfully exposed Kushner’s
incredibly stupid response, which he himself had provoked, to stoke distrust about the incoming
president within the U.S. intelligence community. Nor was this the only mistrust Kislyak
cultivated: the conversations on the monitored phone led to the firing of National Security Advisor
Michael Flynn, and conversations that Kislyak had with Attorney General Jeff Sessions led to
Sessions’s recusing himself from the Russian investigation, which has now driven a wedge between
President Trump and one of his most effective and popular cabinet members.

Kislyak’s resume indicates that he is a well-regarded and competent player in the game of nations:
he has served as Second Secretary of the Soviet UN mission in New York, First Secretary of the
Soviet Embassy in Washington, Deputy Director of the Soviet Department of International
Organizations in Moscow, Permanent Russian representative to NATO in Brussels, Deputy Foreign
Minister, and Ambassador to the United States. Nothing in his 37-year career, either during or after
the Cold War, suggests that his moves are not aligned with Kremlin strategy.

But when it comes to the various disclosures and interventions surrounding the 2016 election, what
exactly was that strategy?

In a report issued on January 6, 2017, entitled “Assessing Russian Activities and Intentions in
Recent U.S. Elections,” the U.S. intelligence community concluded, based both on its sources and
its analysis of stories on the Russian-controlled network RT, that Putin wanted to hurt Clinton, help
Trump, and discredit the American election. These may well have been motives of the Russian
president, but the narrowly focused assessment fails to explain, or even take into account, Kislyak’s
post-election ensnarement of Kushner, or the discrediting dirt against Trump. If Putin had really
wanted to help Trump win the election, why did Russian sources provide damaging dirt to Steele,
which could have cost Trump the election? Why did Kislyak provide the FBI with information, via
a known tapped line, that could (and did) compromise key members of Trump’s administration?

A wider focus can be found, of all places, in Oliver Stone’s revealing, if fawning, four-hour
interview with Putin, in which the Russian dictator makes clear that he views American hegemony,
including America’s standing and respect in the international community, as a threat that Russia
must counter. One way to undermine America’s standing is to provide disclosures that can be used
by its own political factions, and the media, to sow distrust in America’s reliability as a democracy
founded on transparency. Putin tells the truth when he says that it doesn’t matter particularly to
Russia whether Clinton or Trump won the election: his goal was to install doubt in the legitimacy
of the process, regardless of how it turned out.

Edward Jay Epstein’s most recent book is How America Lost Its Secrets: Edward
Snowden, the Man and the Theft, published by Alfred A. Knopf in January.

HOUSE_OVERSIGHT_025550
"
IMAGES-001-HOUSE_OVERSIGHT_012290.txt,"fo™

1
2
3
4
5
6
7
8
9

FEF FP RP YF RP RP KF F
“SN HD Uw DBP W NP FEF OO

BY MS. BILAFONIA:

Q. so iii took you that first time, but then
after that you communicated directly with Jeffrey?

A. Uh-huh.

Q. Tell us about that first time that you went to
his house. Who -- how did you get there?

A. one of a : friends and they dropped us
off and then we went. You know, we got escorted up to
the massage room and he told me everything. He said,
Listen, I like massages. And we had the whole massage
table laid out, the lotions and everything. And she was
in there for the first like five minutes. And the first
time I gave him a massage, she left the room and I gave
him a massage. And she told me, she says he likes women
topless massages. So & willingly the first time took off
my top when I gave him a massage and nothing more than

that.

HOUSE_OVERSIGHT_012290
"
IMAGES-012-HOUSE_OVERSIGHT_033079.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 3/24/2018 12:59:19 PM
To: Kathy Ruemm ler
Subject: Re:

Importance: — High

plenty of blame. mostly the feminists

On Sat, Mar 24, 2018 at 8:46 AM, Kathy Ruemmler Sa wrote:

I blame the plutocracy

On Mar 24, 2018, at 8:26 AM, jeffrey E. <jeevacation@gmail.com> wrote:

but -accurate

On Sat, Mar 24, 2018 at 8:26 AM, Kathy Ruemmlecr > wrote:

Not confidence inspiring

Sent from my iPad

On Mar 24, 2018, at 6:38 AM, jeffrey E. <jeevacation@gmail.com> wrote:

https://www.thedailybeast.com/how-close-is-donald-trump-to-a-psychiatric-breakdown?ref=home

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited

HOUSE_OVERSIGHT_033079
"
IMAGES-006-HOUSE_OVERSIGHT_020742.txt,"#22

HOUSE_OVERSIGHT_020742
"
IMAGES-008-HOUSE_OVERSIGHT_024896.txt,"COWEN
COLLABORATIVE INSIGHTS

80

February 25, 2019

European Landscape

European Parliament Resolution

In February 2019, the European Parliament passed a significant resolution to create
harmonized policies and standardized practices for medical cannabis products in the EV.
The Parliament stressed the importance of conducting clinical trials, which requires a
formal assessment of socio-economic and regulatory barriers that have prohibited
access to research in the past. This is not a legislative, binding resolution; the European
Commission will need to consider a regulatory framework that permits access and
availability to cannabis medicine, therapies and scientific studies.

The European Parliament explicitly stated support for the WHO's recommendations to
institutionalize the medical and scientific uses of cannabis. Having these two
international institutions aligned on standardizing medical cannabis policies will
facilitate support for interstate agreements and trade, and paves way for rapid
legislative change and growth.

EU Standards And Regulations

There is not a supranational regulatory framework for cannabis in the EU. However,
general standards, such as Good Manufacturing Practice (GMP), Good Agricultural and
Collection Practice and Good Distribution Practice, are now significant for cannabis
compliance. Licenses and authorization must be obtained for certification. This is
especially required for pharmaceutical grade cannabis, which is why many Canadian LPs
can export to Europe and made investments to build GMP-certified facilities. Although
not necessary for non-prescribed cannabis, products with GMP-certification have
trusted quality recognition across the EU.

In the EU, the legal limit for THC content is less than 0.2%, in comparison to North
America where it is less than 0.3% THC. There are some disparities across the continent
with higher margins in Italy (up to 0.6%) and various import requirements country to
country. Outside of the EU, Switzerland permits up to 1% THC content, which is treated
as a tobacco substitute.

EU Novel Food

Recently, CBD has been added to the European Union's (EU) Novel Food Catalogue.
Foodstuff may be supplements, ingredients or other substance forms. A “novel” food is a
product not previously consumed in the EU, to a significant degree, prior to May 15,
1997, such as for example, foods that enter the market through new technology or
agricultural products normally consumed and grown outside of the EU (e.g. chia seeds,
vitamin K, UV treated food).

Amendments to the Catalogue occur frequently and provide a regulatory framework for
EU Member States (MS) to follow. Some MS (i.e. UK, France, Germany, Italy, and
Holland) requested to update the catalogue with CBD and hemp-derived products. The
European Food Safety Authority (EFSA) is now conducting a risk assessment for CBD.
This categorization includes pure CBD extracts and products that contain CBD extracts.
The EFSA’s assessment is limited to a daily intake of 130 milligrams. The outcome of the
review is expected in March 2019. By October 2019, the European Commission will
release a draft act to authorize CBD in the updated Catalogue.

While the EFSA assesses CBD, some countries have already banned the sale of CBD and
removed product from the shelves (e.g. France, Austria). MS may have their national
food or health agencies provide further guidance for CBD products and preparations.
Obtaining authorization for CBD and hemp-derived products (e.g. tinctures, edibles,

COWEN.COM

HOUSE_OVERSIGHT_024896
"
IMAGES-007-HOUSE_OVERSIGHT_024186.txt,"08.00 PM — 10:30 PM:

Monday, 24 September 2012

8:00 AM — 9:30 AM:

08.15 AM — 10.00 AM:

10.00 AM — 05.00 PM:

12:30 PM — 01:30 PM:

01.15 PM — 02.45 PM:

02.00 PM- 02.30 PM:

03.00 PM- 06.00 PM:

04.00 PM- 04.45 PM:

06.15 PM:

07.00 PM:

08.00 PM — 11:00 PM:

Tuesday, 25 September 2012

o Location: The Waldorf Astoria Hotel, 301 Park Avenue, New
York
o PR

Presidents Private Dinner Event — Jeffrey Epstine
o Composition of the motorcade.
o Lead car: President

Breakfast with Maldivian Delegates
o Helmsley Hotel

Peaceful Settlement of Conflict, hosted by Netherlands (TBC)
o Location: Delegates Dining Room, UN Headquarters.

o Foreign Minister

High Level Segment on Rule of Law
o Location: UN Headquarters. (Walking distance)
o 20"" speaker, apprx 11.40 am
o President+ Foreign Minister + State Minister + AG+
Ambassador Rasheed +PR

Presidents Private Lunch
o Helmsley Hotel

High Level Lunch Event on Women’s Access to Justice, hosted by
UN Women, HoD of Finland and South Africa (TBC)
o Location: Ambassador’s Riverview, UN Headquarters.
o AG

Jamaica Foreign Minister (Confirmed)
o Location: TBC
o Foreign Minister

High-level meeting on sustainable energy for all. (Confirmed)
o Location: NLB 2 UNHQ.
o Environment Minister+ Di (Speaking slot 10)

UNDP Administrator.
o Location: bilateral booth at the UN.(Walking distance)
o President+ Foreign Minister + Environment Minister + AG
+ Ambassador Rasheed + PR

Depart Hotel to President Obama’s Reception
Obama’s Reception (Confirmed)
o Location: Starlight Roof, The Waldorf Astoria Hotel,
301 Park Avenue, New York
o  ©President + First Lady

Presidents Private Dinner
o Helmsley Hotel

HOUSE_OVERSIGHT_024186
"
IMAGES-012-HOUSE_OVERSIGHT_033092.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 5/9/2018 10:33:34 AM
To: Lawrence H. Summers
Subject: Re:

https://www.motherjones.com/politics/2017/08/a-putin-friendly-oligarchs-top-us-executive-donated-285000-to-

On Tue, May 8, 2018 at 8:24 PM LHS qa wrote:

lam now.

Sent from my iPhone

Please direct all scheduling inquiries to my office at: I I

Follow me on twitter @lhsummers
www.larrysummers.com

On May 8, 2018, at 8:19 AM, jeffrey E. <jeevacation@gmail.com> wrote:

https://www.bloomberg.com/news/articles/2018-05-07/d-e-shaw-fired-fund-manager-michalow-for-gross-

violations STAY AWAY!

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this

HOUSE_OVERSIGHT_033092
"
IMAGES-011-HOUSE_OVERSIGHT_030723.txt,"From: Michael Wolff [is

Sent: 7/12/2018 7:55:54 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: A few thoughts

Importance: — High

1) Isaw SB in London yesterday and he seemed especially paranoid about any reporters seeing me with him.
My guess is that he is working hard on his relationship with Trump who he sees as newly ascendent and being
seen with me might queer that.

2) He went on Hannity last night and will be on Piers Morgan tomorrow and that seemed with an eye toward an
audience of one.

3) He was having a meeting yesterday with the French right wingers, including Le Pen's husband, about
refinancing the National Front Party because apparently a good part of their money comes from Russia. Two
thoughts here, these guys seemed like idiots, pure Ruritania, and Bannon, surrounded by his own thuggish-
looking security people and whacky-bloggers advisors, thrives precisely because the world of populism is so
unprofessional (if not farcical).

more later...

HOUSE_OVERSIGHT_030723
"
IMAGES-007-HOUSE_OVERSIGHT_023831.txt,"Knowledge-Based Education vs. Process-Based Education a5

But she, too, added: “We do need accountability.”

Accountability must play well in Peoria because every politician is for
iby

Accountability must mean to voters, I assume, that teachers will
be measured by how well they teach their students. Political candi-
dates, always willing to hop on an uncontroversial point of view, are
all quite certain that the voters know what they are talking about. No
matter how stupid NCLB is, no matter how mean spirited, no matter
how awful for both teachers and students, its very horror rests on the
premise that no one seems to be disputing that the federal govern-
ment has the right to tell the schools what to teach and to see whether
they are indeed teaching it.

How is this premise wrong?

e It assumes that all schools should teach the same
subjects.

e It assumes that some subjects are more important than
other subjects.

e It assumes that all important subjects can be easily tested.

e It assumes that seeing who did better than whom in
school is an intrinsic part of the educational process.

e It assumes that all children have the same educational
needs,

Let’s take them one by one.

ALL SCHOOLS SHOULD TEACH THE SAME SUBJECTS

Why is this wrong?

First, it is wrong because subjects aren’t what should be taught.
But even if one follows the view presented in this book that the issue
is cognitive processes and not subjects, cognitive processes need to be
applied to actual domains, that are relevant to the life of the student..
Kids in New York come from, and will live in, a different world than
their compatriots in New Mexico. In New Mexico, I was asked whether
we could teach casino management and land use. Yes, we could, but
not if there is federal accountability about algebra and 20 other sub-
jects that make it impossible to fit these subjects in.

HOUSE_OVERSIGHT_023831
"
IMAGES-006-HOUSE_OVERSIGHT_020971.txt,"Restructure Social Security: Mathematical Illustration #3 —

Increase Social Security Tax Rate From 12.4% to 14.2%

Increase Social Security Tax Rate by 1.92 Percentage Points, Immediately & Permanently

12.4% a

+1.92
Percentage
Points

Payroll Tax Rate (%)

4, . _ 2009 . . 2010&Beyond . .
Note: For mathematical illustrations, we simply caiculate how big a revenue increase AND / OR expense decrease each major entitlement program needs to
reach financial break-even. These caiculations are merely mechanical illustrations and are not meant to portray realistic solutions.
Note: 1.92% is the estimated actuarial deficit for Social Security Trust Fund over a 75-year period from 2010 to 2085.
Source: Social Security Administration forecast in “The 2010 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and

K Pp Federal Disability Insurance Trust Funds,” 8/10.
(@E www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 259

Good News: Mathematical Illustrations to Fix Social Security’s

Financial Problems Do Not Seem Drastic

In fact, when Social Security was nearing bankruptcy in 1983, a
combination of moderate reforms led to 25 consecutive years of
operating surpluses.

Highlights of 1983 Social Security Reform
1) Raised full retirement age to 67 by 2027 (from 65)*
2) Reduced annual benefits by 5% (via a 6-month delay in cost-of-living

adjustment in 1983 & subsequent changes in benefit formulas and tax
schemes) .

3) Raised Social Security tax rates by 2.3% (via an advancement in
scheduled tax increase).

4) Made Social Security benefits (up to 50%) taxable income.

Note: *For people born in 1937 or earlier, full retirement age (with 100% Social Security benefit) remained at 65. For people
born after 1960, full retirement age was raised to 67. For people born between 1937 and 1960, the full retirement age
progressively increases from 65 to 67. Source: Social Security Administration archive.
(@ www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 260

HOUSE_OVERSIGHT_020971
"
TEXT-002-HOUSE_OVERSIGHT_032744.txt,"From: LH 
Sent: 3/24/2018 6:40:48 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
CC: Ihsofficel 
Subject: Re: 
Importance: High 
Opinions 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at 
Follow me on twitter glhsummers 
www.larrysummers.com 
On Mar 24, 2018, at 6:40 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
https://www.thedailybeast.com/how-close-is-donald-trump-to-a-psychiatric-breakdown?ref=home 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032744 
"
IMAGES-005-HOUSE_OVERSIGHT_019390.txt,"Automated Serial Permanent Charge-Out
FD-Sa (1-5-94)

Case ID: 31E-MM-108062 Serial: 29

Description of Document:

Type :
Date bs 2
To j
From : US DIST COURT
Topic: EXECUTED FGJ SUBPOENA
Reason for Permanent Charge-Out:
transfer to subpoena sub
Transferred to:

Case ID: 31LE-MM-108062-SBP Serial: 62

Employee: [___

Date: 06/21/07 Time: 14:03

b7¢ -2

03956-104
SIE yt-=/0F0CI-20

HOUSE_OVERSIGHT_019390
"
IMAGES-011-HOUSE_OVERSIGHT_032134.txt,"Hotel Plaza Athénée The Landmark London Thompson LES
Starting Wednesday 27/7 at 59m BST Starting Wednesday 27/7 at 5pm BST Starting Wednesday 27/7 at 5pm BST

Hotel Roger Williams
Starting Wednesday 27/7 at 59m BST

Mediterranean Style in South Florida

Fairmont Turnberry Isle Resort

HOUSE_OVERSIGHT_032134
"
IMAGES-001-HOUSE_OVERSIGHT_011772.txt,"/ BARAK / 15

By November, even his Foreign Minister, David Levy, was making noises
about quitting. He said it would be a waste of time to stay in the cabinet if it was
going to bring the peace process to a halt. I warned Bibi, both in the Knesset and in
a series of speeches, about the alternative on the Palestinian side if those who
wanted a negotiated peace had nothing but stalemate to show for it. And lives, I
insisted, were at stake. Both through closed-door sessions of the Knesset’s security
and foreign affairs committee, and my own contacts in military intelligence, I was
convinced that the result would be a second, much more deadly, intifada. Not with
Molotov cocktails, but guns, and suicide bombs.

I was not out to score political points in keeping the pressure on Bibi to move
forward. In fact, I announced that if Bibi did go ahead and finalize the terms for
our Oslo redeployment, Labor would once again provide the extra Knesset votes
needed for him to get it approved.

Early in 1998, he sent word that he wanted to talk. The message came through
Yaakov Ne’eman, his Finance Minister and a prominent lawyer whom I knew and
liked. He and I held an exploratory meeting at which he proposed talks with Bibi
on the prospect of a unity government that would help move the peace process
forward. I said I’d talk, with one proviso: the discussions would be genuinely
secret, with no leaks. I was not prepared to engage in political gamesmanship. In
May, Bibi sent an assurance of confidentiality through Ne’eman. The first of about
a half-dozen meetings came a few days later at the Prime Minister’s residence in
Jerusalem. Then, we shifted venue, meeting at a Mossad-owned villa north of Tel
Aviv. I brought along Bougie Herzog, a bright young lawyer, and Labor Party
member, who was working in the same law firm and Ne’eman. It was by no means
clear we’d agree on a unity government. To my amusement, if not altogether to my
surprise, I got word that Bibi was putting out separate political feelers to Shimon
Peres. But before long, it became clear there was a specific political motivation
behind his approaching me. It was indeed the peace process. But it wasn’t the
Palestinian peace process, something Bibi still clearly wanted to avoid as much as
humanly possible. It was an attempt to engage with Syria.

He asked me about the talks under Rabin and Peres, and my views on the
possibility of a deal with President Assad. He also wanted my assessment about
whether the army could work out arrangements to safeguard the country’s security
if we handed back most, if not all, of the Golan Heights. If so, what kind of
security arrangements, with what timeline? We met through the summer, as the

301
HOUSE_OVERSIGHT_011772
"
IMAGES-010-HOUSE_OVERSIGHT_028525.txt,"Continue reading the main story

Suzy Menkes on the fashion designer L'Wren Scott

e A Times selection of noteworthy cultural events in New York City and beyond
e Net-a-Porter means “ready to party""

Continue reading the main story

The first day of rehearsal for “Macbeth,” Alec Baldwin sat down next to me. “Who do you play?” he asked. My
voice quivered: “Ummm, I play Fleance and Young Seward.” He paused. “Oh — so I kill you twice.” Each
night, as he drove his broadsword through my heart, I thought, “I’ve made it!”

In the sixth season of “Scrubs,” the show’s creator, Bill Lawrence (also a major fan of musical comedy),
decided to do a musical episode. It was the first time I had done musical comedy since I was at camp, and it
instantly reminded me how much I loved it. My favorite song from the episode was called “Guy Love.” In it,
Donald Faison (my best friend in real life and on the show) and I sang about how our homoerotic love for each
other was nothing to apologize for. (“It’s guy love, that’s all it is.””) The experience replanted the seed, and I
made a promise to myself: One day I would sing on Broadway.

Zach Braff, left, and Donald Faison on “Scrubs,” which had a musical episode in its sixth season. Credit ABC

I’d be curled in the fetal position spooning a pillow right now, though, if it weren’t for my current director,
Susan Stroman. Directing and choreographing a musical is the most epic undertaking for one human being, yet
Susan (or Stro, as the cool Broadway kids call her) handles it with aplomb.

And she’s not just choreographing the actors and dancers, but also the magnificent set designed by Santo
Loquasto, which moves in ways I didn’t know scenery could move. It’s a dance of men and women and
machines and winches and elevators and lights. The wings of the St. James are very narrow, so when a giant
piece of scenery disappears from the audience’s view, the most elaborate game of Tetris begins, as the
outstanding stage crew turns and lifts and twists; not an inch is wasted. The second the orchestra strikes the first
note of the overture, no one stops moving until the final curtain hits the deck.

During “Manhattan Murder Mystery,” I had every word of my lines memorized down to the punctuation mark.
I’ll never forget: The first thing Woody said to me was, “We’re probably not going to say exactly what’s on the
page so ... you know ... just try to keep up. ...”” While we’ve been in previews on “Bullets,” he and Stro have
been giving us notes each day on the previous night’s performance. One night, I dropped a great joke by
accident. He said to me with a smile, “You’ll probably get a bigger laugh if you actually say it onstage.”

All the people on Broadway are the best at what they do. All dancers want to work with Stro, so she gets the
best dancers in New York City. Is there an oboist in the orchestra? You can guarantee he’s the best oboist on the
island of Manhattan. Need to recreate the look of 1929? The six-time Tony winner William Ivey Long is here to
design the costumes. And the voices! I am in awe. There has yet to be a time when I don’t get goose bumps
when Betsy Wolfe, who plays my girlfriend, belts out the final notes of our duet, “I Found a New Baby.”

HOUSE_OVERSIGHT_028525
"
IMAGES-001-HOUSE_OVERSIGHT_011014.txt,"It would be nice to test from such a dataset, again starting from (4.6), to see if free
growth theory holds again. Who knows? Meanwhile, | think, the case is closed. All

growth at very large scales is free until proved otherwise.

Where Does Opinion Stand Now?

What should we make of this evidence for free growth in national accounts and
stock market data? Lawmakers would probably demand a recount or an
investigation. Tax laws discourage consumption and dividends to encourage growth.
Yet data show that lower consumption rate coincides as often with lower as higher
capital growth rate for eight nations over four to fourteen decades. They will show

the same for dividends when we come to that.

Economists would be less surprised. Solow has prepared them for the news. In 1956
and 1957 he showed evidence that most growth is not explained by capital
accumulation, or saving through consumption restraint. His Nobel prize acceptance

speech in 1988 includes:

... In the beginning, I was quite surprised at the relatively minor part the model
ascribed to capital formation. Even when this was confirmed by Denison and others,
the result seemed contrary to common sense. The fact that the steady-state rate of
growth is independent of the investment quota was easy to understand; it only
required thinking through the theory. It was harder to feel comfortable with the
conclusion that even in the shorter run increased investment would do very little for
transitory growth. The transition to a higher equilibrium growth path seemed to

offer very little leverage for policy aimed at promoting investment.

The formal model omitted one mechanism whose absence would clearly bias the
predictions against investment. That is what I called “embodiment,” the fact that
much technological progress, maybe most of it, could find its way into actual
production only with the use of new and different capital equipment. Therefore the

effectiveness of innovation in increasing output would be paced by the rate of gross

Chapter 4 Mill’s Idea 1/11/16 23

HOUSE_OVERSIGHT_011014
"
IMAGES-005-HOUSE_OVERSIGHT_020277.txt,"125

CHAPTER SIXTEEN

The Question of When?

“The NSA was actually concerned back in the time of the crypto-wars with improving American security.
Nowadays, we see that their priority is weakening our security”

—Snowden in Moscow

In his 1974 novel Tinker Tailor Soldier Spy, John LeCarre helped establish the concept in the
public imagination of a mole burrowing unto a rival intelligence service. LeCarre’s now classic
mole, code-named by the KGB “Gerald,” managed in the novel to gain access to the inner
sanctum of the British intelligence service MI-6. Aided and guided by his controllers in Moscow,
he systematically stole British intelligence secrets. As LeCarre wove the plot, the brilliantly-
orchestrated operation involved spotting, compromising, and recruiting others to gradually
advance Gerald the mole to a position of power. Such well-organized penetrations are not limited
to fiction. The career of KGB mole Heinz Felfe, who was advanced through the ranks of
German intelligence by an elaborate series of sacrifices by his controllers in Moscow until he
actually headed German counterintelligence in 1961, could have served as the non-fiction
inspiration for Le Carre’s 1963 novel Zhe Spy Who Came out of the Cold. As US intelligence
only found out after the Cold War ended, the KGB also had the ability to sustain moles for
decades.

The CIA also had its share of long term successes, such as Alexander Poteyev, who fed the CIA
secrets for over ten years while burrowing into Russian intelligence. In the choreography of
these operations, as in Le Carre’s fiction, rival intelligence services ensnared and sacrificed
recruits , as if playing a chess game, to advance their moles. Despite notable successes such as
Felfe, and Poteyev, a great number of these elaborate conspiracies fail insinuate moles in their
adversaries’ confidence. Intelligence services therefore also take advantage of a more prosaic
source: the self-generated spy, or, as they are called in the trade, walk-in.

Although they are largely unsung in novels, these walk-ins are an important part of
espionage. A counterespionage review done for the Presidential Foreign Intelligence Advisory
Board (PFIEB) in 1990 found that most US spies in the Cold War had taken documents on their
own volition and only afterwards offered them to an adversary service. Self-generated spies have
diverse motives. Some intelligence workers steal secrets for financial gains. Others take them to
further an ideological interest. As opportunistic enterprises, intelligence services do not turn walk-
ins away if they have valuable intelligence. Indeed, some of the most successful moles were not
recruited, or even controlled, by spy agencies. They were self-generated penetrations, or
“sources” as the KGB preferred to call them, who first stole secrets and later voluntarily deliver
them to an adversary. Consider the case of Robert Hanssen, who successfully penetrated the FBI

HOUSE_OVERSIGHT_020277
"
IMAGES-005-HOUSE_OVERSIGHT_018930.txt,"Jeffrey Epstein has donated more than $100,000
to Democratic candidates’ campaigns, including John Kerry’s presidential bid,
the reelection campaign of New Mexico Gov. Bill Richardson and the Senate bids
f Joe Lieberman, Hillary Clinton, Christopher Dodd and Charles Schumer.

ao

a ce ET a

| WINGED GARGOYLES guarded the gate at Jeffréy

Epstein’s Palm Beach mansion. Inside, hidden cameras

trolled two rooms, while the girls came and went.

For the police detectives
who sifted through the gar-
bage outside and kept
. records of visitors, it was the
lair of a troubling target.

Epstein, one of the most
mysterious of the country’s
mega-rich, was known as
much for his secrecy as for
his love of fine things: mag-
nificent homes, private jets,
beautiful women, friendships
with the world’s elite.

But at Palm Beach police
headquarters, he was be-
coming known for something

else: the regular arrival of
teenage girls he hired to give
him massages and, police
say, perform sexual favors.

Epstein was different
from most sexual abuse sus-
pects; he was far more pow-
erful. He counted among his
friends former President Bill
Clinton, Donald Trump and
Prince Andrew, along with
some of the most prominent
legal, scientific and business
minds in the country.

When detectives started

See EPSTEIN, 6A >

Epstein’s mysterious lifestyle
began to unravel after claims
of sexual activity with minors.

HOUSE_OVERSIGHT_018930
"
IMAGES-009-HOUSE_OVERSIGHT_027083.txt,"HIV/AIDS GLOBAL OVERVIEW

¢ No. 1 cause of death globally for women age 15-44
« 80% of female cases contracted via heterosexual transmission

e Male and female condoms are the only prevention products available

48% 52% Worldwide, women represent >50% of new
Male | Female Adult HIV/AIDS infections

ONEVOICE

HOUSE_OVERSIGHT_027083
"
IMAGES-003-HOUSE_OVERSIGHT_015483.txt,"MATTER

B

IOFUEL

Frack ’er Up

Natural gas is shaking up the search for green gasoline

BY DAVID BIELLO

AM SPEEDING DOWN New Jersey’s highways,
| propelled by gasoline with a dash of ethanol, an

alcoholic biofuel brewed from stewed corn ker-
~~ nels. As I drive through the outskirts of the town-
ship of Hillsborough, in the center of the state, I see
that spring has brought with rt a bounty of similar “bio-
mass,” as the fuel industry likes to call plants. Trees
line the road and fresh-cut grass covers the sidewalks
as I pull into the business park that is home to Pri-
mus Green Energy—a company that has been touting
a technology to transform such biomass into a green
and renewable form of gasoline.

But there’s a hitch. The boom in hydraulic fracturing,
or “fracking,” a technique in which horizontal drilling
and high-pressure jets of water are deployed to release
gas trapped in sedimentary shale rock, has made natu-
ral gas cheap and plentiful. That’s not bad for Primus,
whose technology can make gasoline from natural gas,
biomass, or even low-grade coal, such as lignite or peat.
This versatility makes Primus a potential part of what

has been called the “olive economy’—companies that
are neither bright green nor darkest black, but com-
bine environmentally-friendlier technologies with old-
er and dirtier ones in order to compete. In fact, Primus
may become a leader in advancing this kind of technol-
ogy. “We can be as dark as you want or as green as you
want,” says geologist, serial entrepreneur, and Primus
salesman George Boyajian.

In July, President Barack Obama gave a major
speech on climate change that described natural gas
as a “transition fuel” towards the “even cleaner energy
economy of the future.” But Primus’s trajectory raises
the question of whether natural gas is a boost on the
road to a genuinely green fuel, or if it is prolonging our
addiction to dirty modes of transport, and taking us on
a detour from a low-carbon path.

At the Primus headquarters, I first meet Primus’s
chief chemist Howard Fang in front of a prototype of
a Primus conversion machine. Fang, who joined the
company for what he calls his “semi-retirement,” is

ILLUSTRATION BY PETER & MARIA HOEY

23

HOUSE_OVERSIGHT_015483
"
IMAGES-003-HOUSE_OVERSIGHT_014945.txt,"assume $4.7/share in value for the core business based Verizon's pending acquisition
value of $4.83bn less $300mn for potential revisions.

Downside risks to our PO are: 1} Alibaba stock valuation declines, 2) Alibaba valuation
discount is higher than expected, 3) Verizon's pending acquisition of Yahoo core assets
is delayed/challenged, 4} valuation of Yahoo! Japan falls, and 5) valuation of Excalibur
patent portfolio falls.

Yelp (YELP)

Our $43 price objective is based on 14x 2018E EV/EBITDA, slightly above online media
comps, which we believe is warranted given the higher margin potential in the model.
We believe our multiple balances premium growth vs peers with medium-term concerns
on competition and limited GAAP profitability. We believe the slight premium valuation
is sustainable if the company can continue to deliver 25% y/y topline growth with y/y
margin improvement.

Downside risks are Google and Facebook's ambitions to build a review ecosystem to tap
into local ad spending, competition from a variety of online and offline locally focused
advertising businesses, Google traffic dependency, and advertiser churn.

Zillow (ZG / Z)

Our $42 price objective is based on a 6x our 2018E EV/Sales and supported by our DCF
valuation. Our multiple is roughly in-line for online real estate lead generation sites in
other countries operating in developed countries. In addition, this multiple represents a
relative discount given Zillow's higher sales growth and a larger US TAM in comparison
to its peers in smaller developed markets like Australia and Japan. We are positive on
Zillow's long term opportunity to capture the majority of realtor's dollars moving from
offline channels to online marketing channels.

Downside risks are: 1) traffic cannibalization between Zillow properties, 2) new lawsuits
again Zillow, 3) potential for multiple compression, 4) a U.S. housing market down turn,
and 5) lack of profitability support for valuation.

Upside risks are: 1) faster than expected growth and S&M leverage, 2) Zillow Digg
monetization, 3) accelerated grow the in rentals market, and 4) new market expansion.

ZYNGA (ZNGA)

Our $2.70 PO is now based on 11x 2018E EBITDA (which is a premium to the Mobile
gaming peer group due to margin expansion potential), plus $1.41/share in cash and
assets (building).

Downside risks to our price objective are mobile market share losses, challenges in
establishing successful new content given employee departures, and player churn due to
greater competition given low barriers to entry. Upside risks are successful new title
releases that accelerate growth, or potential acquisition of Zynga for its game portfolio.

Analyst Certification

We, Justin Post, Jason Mitchell and Nat Schindler, hereby certify that the views each of
us has expressed in this research report accurately reflect each of our respective
personal views about the subject securities and issuers. We also certify that no part of
our respective compensation was, is, or will be, directly or indirectly, related to the
specific recommendations or view expressed in this research report.

Bankof America

Merrill Lynch Internet/e-Commerce | 06 April2017 59

HOUSE_OVERSIGHT_014945
"
IMAGES-004-HOUSE_OVERSIGHT_017092.txt,"4.2.12
WC: 191694

was privileged to have participated in many of the most intriguing and important cases and
controversies of our era.

The law has changed considerably over the past half century. I have not only observed and
written about these changes, I have helped to bring some of them about through my litigation, my
writing and my teaching. This book presents an account of these changes and of my participation
in the cases that precipitated them. It is also an account of one man’s intellectual and ideological
development during a dramatic century of world, American, and Jewish history, enriched with
anecdotes and behind-the-scenes stories from my life and the lives of those I have encountered.

An autobiographer is like a defendant who takes the stand at his own trial. We all have the right
to remain silent, both in life and in law. But if one elects to bear witness about his own life, then
he or she must tell the truth, the whole truth and nothing but the truth. This commitment to
complete candor is subject only to limited privileges such as those between a lawyer and a client,
or a husband and a wife. A witness may be questioned not only about his actions, but also about
his motivations, his feelings, his biases, and his regrets. In this autobiography, I intend to comply
with these rules to the best of my ability.

Why then have I waived my privilege of silence and decided to write this autobiography: because
I have lived the passion of my times and participated in some of the most transforming, legal and
political events of the past half century. In this autobiography, I will describe and explain my role
in litigating cases and advocating causes that have changed the political and legal landscape—for
better or worse. I will also explain how I litigate difficult cases—the tactics and strategies I have
successfully developed over the years. My oath of honesty makes it impossible to hide behind the
false modesty that often denies the readers of autobiographies an accurate picture of the impact an
author has had on events.

Since you’re reading these words, you’ve probably encountered the public Alan
Dershowitz—confrontational, unapologetic, brash, tough, argumentative, and uncompromising.
Those who know me well—family, friends, and colleagues—hardly recognize the “character” I
play on TV [alternative: my TV persona]. They tell me in my personal life, I shy away from
confrontation and am something of a pushover. My son Elon says that when people bring me up
in conversation, he can instantly tell whether they know me from TV or from personal
interactions—whether they know what he calls “The Dersh Character” or “the real Alan.”

This sharp dichotomy between my public and private personas was brought home to me quite
dramatically, when a major motion picture, Reversal of Fortune, was made about my role in the
Claus Von Bulow case, and a character, based on me, was played by Tony Award actor Ron
Silver. The New York Times asked me to write an article for the arts and entertainment section
on how it feels to watch someone play you on the big screen.

The opening scene of the film had my character playing an energetic basketball game with
himself—true enough. But when he’s interrupted by a phone call giving him the news that he had
lost a case involving two brothers on death row (the Tison brothers, see Chapter 12), he smashes
the phone on the pavement.

HOUSE_OVERSIGHT_017092
"
IMAGES-003-HOUSE_OVERSIGHT_014789.txt,"Case 1:15-cv-07433-RWS Document 749 Filed 03/17/17 Page 2 of 9

TABLE OF CONTENTS
INTRODUCTION 0000... ccce eects eeescnseneesesseneeeeecenscnseeeceeseeneeesseseeeeneseesteseeeeeeeeneeteaeeees ]

I. FED. R. EVID. 405(B) REQUIRES ADMISSION OF ALL SPECIFIC INCIDENTS OF
PLAINTIFF LYING OR ENGAGING IN DECEITFUL OR FRAUDULENT CONDUCT 1

A. All allegations or comments made by Plaintiff are “connected to” the alleged defamatory
StAtCMENt eee ec cececneeeneceneeeeeeceeeaeenaeenseecseecseceecnaeeneeeeseseeesecnecsteesnsesceeeeeneeeneeereeeneeeaes 4

B. Responses to Enumerated Motions 11 Limine ......ccccccccccccccceceteces cece cessecnseceseseenssssseensensees 6

1. Stories and allegations concerning Dershowitz, foreign presidents, and world leaders
are highly relevant and admissible (Motion in Limine 1) ..00...0.. eee eceeeeeeeeeeeeeeteeneene 6

2. Meeting Bill Clinton at Jeffrey Epstein’s private island twice (Motion in Limine 2)..... 8

FOIA responses and related materials are admissible (Motion in Limine 3).................. 8

io)

4. Louis Freeh’s testimony and report are admissible evidence (Motion in Limine 4) ....... 9

5. Prince Andrew and Buckingham Palace’s denials of Plaintiff's claims are not offered
for the truth of the matter asserted (Motion in Limine 5)....0....0.00ccccccceccecceeeseceeeseeeees 11

6. Evidence Regarding Plaintiff's Sexual History and Reputation is Admissible (Motion in
LIMINE 6) occ cece cece cccecccecessccccesssececeseececsseescessueecesseesssseeesstsssessesstessessseserssaeessesaeeess 14

7. Plaintiff cannot prohibit use of words such as “prostitute,” which she used to describe

herself, or any other “derogatory” terms that describe her reputation (Motion in Limine
TV) cecccccccesesecssesessssesssssessesscssssessesssusssassessessesasesvsesssssssessesseesesssessiecsessessesecsesseeseesesssesseeaes 14

9. Information regarding Plaintiff's criminal history is relevant and admissible evidence
when character is an essential element of the claim (Motion in Limine 9)................... 18

10. Evidence concerning school attendance is relevant to Plaintiff's allegations of how she
spent her time in 1999 to 2002 (Motion in Limine 10) 00... cccececessceteeetseenes 19

11. Plaintiff put her full childhood history and character at issue (Motion in Limine 11) .. 20

12. Victims Refuse Silence is a sham not-for-profit established to create a claim for
defamation per se (Motion in Limine 12)... cece cccsecececssessecsseseeeseeseeeaeenes 20

HOUSE_OVERSIGHT_014789
"
IMAGES-009-HOUSE_OVERSIGHT_027097.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 1/12/2012 4:57:10 PM
To:

Subject: Re: B 727 thought
yes

On Thu, Jan 12, 2012 at 4:23 PM, <> wrote:
you want me to call Tarek, instead? just to confirm.

In a message dated 1/12/2012 10:21:24 A.M. Eastern Standard Time, jeevacation@gmail.com writes:
Call

Sorry for all the typos .Sent from my iPhone

On Jan 12, 2012, at 4:12 PM x wrote:

Jeffrey,

this may be a long shot to save the Boeing deal, or if you think its a dead deal, disregard this.

| thought there was a connection between Tarek and myself, | do believe one concern was operation of Boeing with
flight crew. | Know its his problem not ours, but may help make the sale happen,.

| wrote this email for your review, if you think its worth sending, please critique, and let me know,. thank you:

Mr. Tarek El Sayed,
| hope this email finds you well, and believe worth communicating my thoughts to you.

| was surprised to hear that you decided against the purchase of our Super Boeing 727. | personally thought it was a great match
for your business needs in Qatar. If for any reason your decision was based on crew issues and charter needs in the Middle East,
I'd like to share some information that might prove beneficial to making you reconsider this purchase.

The pilot candidates | have lined up for your interview along with the possibility of David Rodgers joining your flight department
were as follows:

(at no time did | disclose location or persons to the following pilot candidates to protect your privacy.)

Robert Breslin, who is the former Chief Pilot of Mr. Donald Trump, Mr. Breslin flew the Boeing 727 and Boeing 757 owned by Mr
Trump. Mr Breslin is a fine man of 40 years of age estimate, with extensive VIP Boeing operations.

James Bartakowski, who has extensive flying experience in the Middle east, Africa and Europe régime. Mr. Bartakowski has also
been involved in charter operations in Africa and Middle East and has contacted me on several recent occasions with charters for
our Boeing 727, James has indicated there is the possibility of 40-60 hours per month charter operations for larger transport
category aircraft in your area. | believe there is a growing need for charter in the business community in Qatar and neighboring
countries.

Bruce Jafahri, who is a current Boeing 727 captain who lived in Doha for two years, and familiar with international operations of
Boeing 727 aircraft. Mr. Jafahri currently lives in California and ready for a new opportunity. Bruce is current in the Boeing 727 and
also flew Captain on the Boeing 747. Well qualified individual and personable.

Mr. El Sayed, as you have seen during our demo flight, our Boeing 727 is in impeccable condition, quite cabin and will provide
many years of charter and business flights your company. | believe the large business jet future in Qatar is growing and you will be
leading its path, and your initial investment in this purchase will not come close with other aircraft options on the market as you
may have seen already.

We are currently completing the C2C check on the Boeing, and as we have done in the past, assure you it will be a fine aircraft
when it leaves Flight Star Maintenance repair facility.

HOUSE_OVERSIGHT_027097
"
IMAGES-003-HOUSE_OVERSIGHT_015497.txt,"NAUTIL.US | TEXT SETS

programs to study “exceptional responders”: those rare
cancer patients who do well while nobody else does.

Cancer is a personal disease, Solit explains. Each
tumor constitutes its own world of defective genes and
proteins. By studying the genetic quirks of exception-
al responders, physicians can systematically identify
weaknesses in cancer subtypes and blast them with
drugs that target their unique vulnerabilities. “It’s a
testament to how much has been learned about the
genome in the past 30 years,” Solit says. “We’ ve always
wanted to find out why some individuals respond so
well. Now we have the capacity. It’s going to really
change the way we treat patients.”

UNLIKELY CASES HAVE AN eminent history in medi-
cine. The modern science of the mind owes a lot to

the freakish accident suffered by Phineas Gage, a

19th century railroad construction foreman whose

job involved packing down explosive powder with a

three-and-a-half-foot-long iron tamping rod. On Sept.
13, 1848, the powder exploded in his face, blasting the
rod up through his chin and out the back of his head.
Against all odds, he survived. But his personality was
transformed. The formerly shrewd and patient Gage

became obnoxious and unreliable.

An observant doctor named John Martyn Harlow
who cared for Gage proposed that his personality
change was due to the destruction of the frontal lobe
of the left side of the brain. Gage’s unlikely transfor-
mation revealed a universal truth about brains, that
particular parts—the frontal lobes—are required for
self-control. The strange case of Phineas Gage is still
mentioned in neuroscience textbooks.

Rare events can also lead to new cures. As the story
goes, English physician Edward Jenner’s observations
of an 18th century milkmaid who caught cowpox and
thereby became immune to smallpox paved the way for
the fi vaccines. New ideas for curing HIV are emerg-
ing from the famously unlucky lucky case of the “Berlin
patient.” Timothy Ray Brown, who was HIV positive,
developed blood cancer leukemia in 2006. His chemo-
therapy and radiation treatments wiped out the cells
of his immune system, where the virus is believed to
hide. He then got a bone marrow transplant from one
of those rare people with a gene mutation that makes
them resistant to HIV. Today, Brown still has no sign

37

of HIV in his body, and his case has inspired a study
to genetically engineer HIV-positive patients’ cells to
resist the virus.

In the past, cancer researchers weren’t able to
capitalize on their unexpected outlier successes. Not
enough was known about the biology of cancer, and
the right tools hadn’t been invented. “Even if someone
had a complete remission, you had no way to figure out
why,” says James Doroshow, director of the Division of
Cancer Treatment and Diagnosis of the National Can-
cer Institute (NCI). That changed in the 2000s, when
it became possible to analyze the genetics of cancer
tumors for clues.

The first major success came with studies of the
drug gefitinib in non-small-cell lung cancer (the most
common kind). Gefitinib helped less than 20 percent
of the people who took it, but a few outliers had dra-
matic, rapid recoveries. In 2004, two Harvard groups
found that the responders had mutations in the epi-
dermal growth factor receptor (EGFR) gene. EGFR 1s
one of many genes that regulates how cells grow and
when they die, and the mutation basically forced it to
pump out two or three times as much growth signal as
it should, fueling the cancer. Gefitinib dialed down the
signal. A clinical trial later proved that the drug keeps
tumors at bay for more than nine months in people
with certain EGFR mutations.

More insights gleaned from extraordinary respond-
ers soon followed. One melanoma patient in a study of
22 people taking sorafenib saw his tumor shrink quick-
ly, a response due to a mutation in the gene KIT, which
regulates cell growth, division and survival. People
with certain kinds of melanoma, such as the type that
grows on mucus membranes, now routinely get tested
for this mutation. The drug helps about 40 percent of
those with the mutation—an impressive advance in a
cancer that once had no effective treatment.

In these studies, investigators had to make educat-
ed guesses about where in the genome to look for the
culprit mutations. It was the keys-under-the-lamppost
phenomenon: They could only examine genes they
already suspected were involved in the cancer. But as
the speed and efficiency of DNA sequencing skyrocket-
ed, and its price plummeted, it started to look reason-
able to sequence the whole tumor genome to cast the
widest possible net. By 2010, when the bladder cancer

HOUSE_OVERSIGHT_015497
"
IMAGES-004-HOUSE_OVERSIGHT_017086.txt,"Kiyoshi Kurokawa

Tapio Kuula

Nabil R. Kuzbari
Maja Kuzmanovic
Stanislav Kuznetsov
Andrey R. Kuzyaev
Kwak Seung-Jun

Fawzi Kyriakos-Saad

Rachel Kyte
Carlos Labarthe Costas

Huguette Labelle
Maria Claudia Lacouture
Francine Lacqua

Peter Lacy

Christine Lagarde

Samir Lahoud
Sam Laidlaw
Charles D. Lake II
Siddhartha Lal

Charlotte Lambkin
Christina Lampe-Onnerud
Pascal Lamy

Ray Lane

Laura Lang

Gernot A. Langes-
Swarovski

Guy Louis Lansdown

Felipe Larrain Bascufian
Thomas Larsen
Keith Larson

Juan Mario Laserna
Adam Lashinsky
Alex Laskey
Vanessa Lau

Paul A. Laudicina

llja Laurs
Anne Lauvergeon
Sergey V. Lavrov

Gerald Lawless
Robert Z. Lawrence

Matthew Layton

Hani Lazkani
Loic Le Meur
Susan Lea

Sir Terry Leahy
Jim Leape

Peter Leav
Edith Lederer
Bessie Lee

Ellana Lee
Lee Eunkyung

Professor

President and Chief Executive Officer
President and Chief Executive Officer
President

Deputy Chairman of the Board
President

Chairman, Presidential Council for
Future and Vision, Republic of Korea
Chief Executive Officer, Europe,
Middle East and Africa (EMEA) and
Member of the Executive Board
Vice-President

Executive President

Chair

President

Anchor 'On the Move' and Senior
Correspondent

Managing Director, Sustainability
Services, EMEA and Latin America
Minister of Economy, Finance and
Industry of France; Member of the
Foundation Board of the World
Economic Forum

Chairman

Chief Executive Officer

Chairman and Representative
Managing Director and Chief
Executive Officer

Group Communications Director
Founder and Chief Executive Officer
Director-General, World Trade
Organization (WTO), Geneva
Chairman, Board of Directors
Chief Executive Officer

Chairman

Executive Vice-President, Discovery
and Development

Minister of Finance of Chile

Editor and Political Commentator
Vice-President, Intel Capital and
Managing Director

Senator, Colombia

Senior Editor-at-Large

President

Group Chief Financial Officer, Alcoa
Global Rolled Products

Chairman of the Board and Managing
Officer

Chief Executive Officer

Chief Executive Officer

Minister of Foreign Affairs of the
Russian Federation

Executive Chairman

Albert L. Williams Professor of Trade
and Investment

Global Head, Corporate Practice and
Partner

Head, Investments

Founder and Chief Executive Officer
Co-Director, Institute for Vaccine
Design, Oxford Martin School

Chief Executive

Director-General

Senior Vice-President, Global Sales
Chief Correspondent, United Nations
Chief Executive Officer

Managing Editor, Asia Pacific
Vice-President, Strategic Relation
Officer

World Economic Forum Annual Meeting 2011

National Graduate Institute
for Policy Studies (GRIPS)
Fortum Corporation

Vimpex Handels GmbH
FoAM

Sberbank

Lukoil Overseas Holding Ltd

Credit Suisse AG

International Finance
Corporation (IFC)

Banco Compartamos S.A.,
Institucion de Banca Multiple
Transparency International
Proexport Colombia
Bloomberg Television

Accenture

Lahoud Engineering
Centrica Plc

Aflac Japan

Eicher Motors Limited

BAE Systems Plc
Boston-Power Inc.

Hewlett-Packard Company
Digitas Inc.
D. Swarovski KG

Newmont Mining
Corporation

Berlingske Tidende AS
Intel Corporation

Fortune Magazine
OPOWER
Alcoa Inc.

A.T. Kearney Inc.

GetJar
Areva

Jumeirah Group
Harvard Kennedy School

Clifford Chance LLP

Olayan Europe Ltd
Seesmic
University of Oxford

Tesco Ple

WWE - World Wide Fund for
Nature

NCR Corporation

The Associated Press (AP)
GroupM China

CNN International
SK Holdings

Japan

Finland

Austria

Belgium

Russian Federation
Russian Federation

United Kingdom

USA
Mexico

Germany
Colombia
United Kingdom

United Kingdom

Lebanon
United Kingdom
Japan

India

United Kingdom
USA

USA
USA
Austria

USA

Denmark
USA

USA
USA
USA

USA

USA
France

United Arab Emirates
USA

United Kingdom

United Kingdom
USA
United Kingdom

United Kingdom
Switzerland

USA

USA

People's Republic of
China

Hong Kong SAR
Republic of Korea

HOUSE_OVERSIGHT_017086
"
IMAGES-003-HOUSE_OVERSIGHT_014951.txt,"TED2017: The future you

4/20/17, 12:07 PM

TED2017 program

Monday, April 24, 10:15AM - 12:00PM PDT

TED Fellows Talks, Session 1

Amazing talks and performances from the new class of TED Fellows and returning Senior Fellows. Hosted by Fellows director Tom Rielly.

Monday, April 24, 1:15PM - 3:00PM PDT

TED Fellows Talks, Session 2

Part 2 of the TED Fellows session, featuring cutting-edge work from TED Fellows and Senior Fellows. Unmissable.

Monday, April 24, 5:00PM - 7:00PM PDT

Session 1: One Move Ahead

Hosted by Chris Anderson

Not attending TED2017? Watch Session 1 — Opening Event — broadcast to cinemas! Find showtimes

Mae

https://ted2017.ted.com/program

Huang Yi
Choreographer, dancer, inventor

As a child, Huang Yi longed for a robot companion. As an adult, he created a robot to dance with: KUKA.

Taiwanese dancer, choreographer, inventor, and videographer Huang Yi’s pioneering work is steeped in his fascination with the partnership
between humans and robots. He interweaves continuous movement with mechanical and multimedia elements to create a form of dance
which corresponds with the flow of data, effectively making the performer a dancing instrument. Named by Dance Magazine as one of the
“25 to Watch,” Huang is one of Asia’s most prolific choreographers.

Harmoniously weaving together the art of dance and the science of mechanical engineering, HUANG YI & KUKA is a poetic work that
intertwines modern dance and visual arts with the realm of robotics, revealing humanity through a series of vignettes between live dancers
and KUKA, a robot conceptualized and programmed by Huang. “Dancing face to face with a robot is like looking at my own face in a
mirror...I think I have found the key to spin human emotions into robots,” Huang asserts.

HUANG YI & KUKA is an original production of Huang Yi Studio +, developed at 3LD Art & Technology Center, in association with
Sozo Artists. Commissioned by Quanta Arts Foundation.

facebook.com/Huang YiStudio

Anab Jain
Futurist, designer

Superflux co-founder and TED Fellow Anab Jain parses uncertainties around our shared futures to create provocative experiences, tools
and tactics that we can adopt today.

In 2009, Anab Jain co-founded the design firm Superflux with Jon Ardern, inspired by influences as far-flung as avant-garde architecture
and Andrei Tarkovsky. The challenges Jain explores are some of the biggest -- climate change, biotech, intelligent machines -- and her
resulting work “navigates the entangled wilderness of our technology, politics, culture and environment to imagine new ways of seeing,
being and acting.”

In her work, Jain creates worlds, stories and tools that provoke and inspire us to engage with the precarity of our rapidly changing world.
Superflux is building tools, methods and commons that can enable us to mitigate the shock of food insecurity and climate change. Recently
they produced a series of civilian drones, and created a vision of a near-future city where these intelligent machines begin to display
increasing autonomy with civic society. Among Superfiux’s previous projects is a headset allowing blind subjects injected with a light-
sensitive virus to develop a kind of “super-sight” sensitive to spectrums that ordinary vision cannot detect.

superflux.in @anabjain

DO awe, Kannannsr

Page 1 of 21

HOUSE_OVERSIGHT_014951
"
TEXT-002-HOUSE_OVERSIGHT_033328.txt,"From: 
Sent: 
To: 
Subject: 
11/21/2018 7:26:45 AM 
jeevacation@gmail.com 
Top Republicans slam Trump for indicating no strong action over Khashoggi killing - CNNPolitics 
Importance: High 
Does the statement will help? 
https : //www. cnn. com/2018/11/20/pol i ti cs/top-republ i cans -sl am-trump-saudi -arabi a-khashoggi/i ndex. html 
Regards, 
Sent from my iPhone 
HOUSE OVERSIGHT 033328 
"
IMAGES-010-HOUSE_OVERSIGHT_030418.txt,"“Jeffrey knows a good deal about most subjects,” newspaper publisher Mort Zuckerman told me last week. He was
certainly preaching to the converted. The truth is, Epstein does know a lot about a lot of things. Just a few moments
in his company and you know this to be true.

When I saw pictures of Prince Andrew walking in Central Park with Jeffrey, my immediate thought was that
“Andy”—as Jeffrey calls him—is probably asking for help with his role as British trade envoy, or whatever his strange
title is. Because if one thing’s for sure: When it comes to international business, Jeffrey knows what he’s talking
about far more than “Andy” does. Which is why Leon Black, Mort Zuckerman and a few other financiers hang out
with him.

And Ghislaine?
Full disclosure: I like her. Most people in New York do. It’s almost impossible not to.

She is always the most interesting, the most vivacious, the most unusual person in any room. I’ve spent hours
talking to her about the third world at a bar until 2am. She is as passionate as she is knowledgeable. She is curious.
She has spent weeks at the bottom of the ocean, literally going deeper than anyone else. She has sent me a DVD of
the fish there. Her rolodex would blow away almost anyone else’s I can think of—probably even Rupert Murdochs’.
She is very well-read and can talk about most things for hours. She is passionate about Bill Clinton with whom she is
close friends.

Yet, touchingly, when she had to give a speech at the 40th birthday party of her best friend, Ariadne Calvo-Platero,
(Known fondly to her close friends as “the Tennis Goddess”) Ghislaine shook a little with nerves. When it comes
down to things she really cares about—and Ariadne is one of them—Ghislaine shows her vulnerability.

And that vulnerability is key to understanding her friendship with Jeffrey.

“He saved her,” I remember a close friend of mine telling me. “When her father died, she was a wreck; inconsolable.
And then Jeffrey took her in. She’s never forgotten that—and never will.”

In many ways, the socially awkward Epstein with his big house, plane, island and ranch was the perfect replacement
for her father, the late Robert Maxwell, newspaper tycoon and criminal. Sure, Jeffrey had his sexual pecadillos, but
then Ghislaine’s father was not without his oddities. After all, it was he who died leaving a massive “black hole” he’d
fraudulently created. To Ghislaine, Jeffrey's habits may not have seemed that strange.

In fact, she probably figured, rather like I have, after years of writing about he very rich, that most successful people
in the end either have some weird habit (the late Bruce Wasserstein had the weight issues, the girl issues, and
moved countries to avoid paying tax), or they break the law (Sam Waksal, Martha Stewart.) You don’t tend to get to
the top by being the world’s most balanced human being. Even the folksy Warren Buffett didn’t quite manage a
normal life—whatever that is. He had a second “wife” for many years whose existence he has been open about.

So what to make of the current fuss over Ghislaine? I haven’t spoken to her or to Jeffrey, but I suspect that her
loyalty to friends like Bill Clinton will keep her in good stead, in the end, she'll be out and about as always. Look at
Waksal and Stewart. No one sees them and thinks: criminal. Au contraire. In this city, money makes up for all sorts
of blemishes.

DK OK KK OK KK KK OK KK OK OK OK KK OK KK OK OK OK OK OK KK OK OK OK OK OK OK OK KK 2K OK OK 2K OK 2K OK OK KOK OK OK OK OK OK OK OK OK OK OK OK KOK

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this

HOUSE_OVERSIGHT_030418
"
IMAGES-001-HOUSE_OVERSIGHT_011000.txt,"Edward West had written in 1815 that in economies already developed, there isn’t
much room for more capital of the same kind. Its productivity disappears in capital
glut and diminishing returns. There could still be growth when some of the new
ideas would need only redeployment of existing kinds of capital, as in relocating
production nearer to the market or cutting out the middleman. This redeployment
was Solow’s “disembodied growth.” But growth after that have to come from capital
new in kind. Hourglasses might have to give place to pocket watches, or sailing ships

to steamships. Those were Solow’s “embodied” growth.

The apparent problem here is that novelty is expensive. There are blind alleys and
failure rates and learning curves that rote replication avoids. This is true somewhat
even in disembodied growth, where redeployment is already a step into the
unfamiliar. If depreciation investment is barely enough for balanced growth without

new ideas, how can it also pay for the failure rates and learning curves?

A tough question. And Mill was posing an even tougher one. The paragraph quoted
is clearly describing capital acceleration. Capital as he describes it is not only
innovating consistently as it keeps up with consumption, but picking up the pace,

and still taking the innovation costs in stride. Is that too much even for Achilles?

It is not. Charts and tables show that the kind of growth Mill describes has proved
the only kind in every country and period where tests are practical. It has proved
the only kind whether capital was growing faster or shrinking faster or anything
between. The growth bronco bucks, and the consumption rider stays on. This is
what clearly happens, or anyhow has happened so far, despite so many reasons to

think it is impossible. What would explain it?

First take the lesser puzzle. Balanced growth, where capital, output and
consumption all grow at the same constant rate, must make do with depreciation
investment. How can it in crowded niches where growth compels the costs of

innovation? Chapter 2 showed my inference that these are the costs of being human.

Chapter 4 Mill’s Idea 1/11/16 9

HOUSE_OVERSIGHT_011000
"
IMAGES-005-HOUSE_OVERSIGHT_020263.txt,"111

With three notable exceptions, the flights to them had stopovers in a country that was an ally of
the US, and which could seize Snowden. The three exceptions were China, North Korea (via
China) and Russia.

The only one of these three countries, or any other country, that Snowden is known to have
dealt with directly during his 33 day stay in Hong Kong, was Russia. As previously discussed, he
had dealings with Russian “diplomatic representatives “, as Putin called them. Putin did not
provide the date of these contacts but he provided an intriguing clue. Snowden was identified to
him, according to Putin, not by name but merely as an “agent of special services.” Putin’s
description suggests the meeting had taken place before Snowden became a household name on
June 9, 2013.

For his part, Snowden was evasive when discussing his contacts with Russia while still in
Hong Kong. When Lana Lam asked Snowden on June 12, 2013 whether he had already
requested asylum from the Russia government, he deferred, saying: “My only comment is that I
am glad there are governments that refuse to be intimidated by great power.” As it turned out,
Snowden was correct. The Russian government was not intimidated by the threats of reprisals by
the United States, as the Obama Administration would learn after his arrival in Russia on June 23,
2013. But the only way that Snowden could not have known that fact on June 12"" was by being
in contact with Russian officials prior to his interview with Lam. Of course, he may have had
multiple contacts on different dates with these officials. The Russian pro-government
newspaper Kommersant reported that Snowden had visited the Russian consulate on more than
one occasion and had been given a birthday celebration there on June 21, 2013.

What we do know about Snowden’s interactions with the Russians in Hong Kong comes partly
from Putin’s own description of them. Putin said, it will be recalled, that his decision to facilitate
Snowden’s escape to Russia had been kicked all the way up the Russian chain of command for
him to personally decide Snowden’s fate. Presumably, this decision-making process began earlier
than June 21, 2013, when he reportedly came to the consulate. The question is: how much
earlier? Since Snowden had arrived in Hong Kong on May 20"", 2013, his contacts with Russian
officials could have occurred as long as a month earlier. That would fit in with Snowden telling
Gellman on May 24"" that he needed his help in dealing with the diplomatic mission of an unnamed
country. In any case, Putin tells us he learned an American “agent of the special services” had
contacted Russian diplomats because he wanted assistance. And Snowden did need assistance to
escape from Hong Kong. As he had no visas, he would require the sort of assistance that could
only be provided by a government willing to defy the United States. The assistance came from
Russia.

Nine days before Snowden boarded Aeroflot flight SU213 to Moscow on June 23"", the US had
filed a criminal complaint against him. It had also alerted Hong Kong authorities and Interpol
when it unsealed the complaint on June 21, 2013. And on June 21st it had invalidated his U.S.
passport (although he still had it in his possession at the Hong Kong Airport.) Since by this time

HOUSE_OVERSIGHT_020263
"
IMAGES-005-HOUSE_OVERSIGHT_018924.txt,"""
‘*

i al
FD-919 (Rev. 06-05-2003)

FEDERAL BUREAU OF INVESTIGATION

Precedence: ROUTINE Date: 08/08/2006
To: Miami
From: Miami

PB2/Palm Beach County Resident Agenc

Contact: [oT

b6

Approved By: b7Cc
Drafted By:

Case ID #: 31E-MM-108062 (Pending)
. 188B-MM-105207-C (Pending)

Title: VICTIM NOTIFICATION FORM
Synopsis: To document victim information. Please refer to the Victim

Notification System_for the additional pertinent information on the
following victims:

Reference: 31E-MM-108062 Serial 1

Details:

VnsCase#: 31E-MM-108062

CAgtName:

PContact:

BusName

BusEIN

BusAcct

VicFirN : be
VicMidN : bic
VicLastN:

SSAN

VicDate

VicDOD

VicMinor:

DOB

Race

Sex

Df jal WP 2 /E- mm 108 &2A0
— 3

HOUSE_OVERSIGHT 018924

"
IMAGES-002-HOUSE_OVERSIGHT_012969.txt,"3.6 Postscript: Formalizing Pattern 53

Specific Objects Abstract Concepts
Composite Actions, (Some corresponding to
Perception Action Complex Feelings named concepts, some not)

&
. - US
Feeling Nodes f

pixel at (100,50) is
RED at 1:42:01,
Sept 15,2006

joint_53_actuator
is ON at 2:42:01,

Sept 15, 2006

Fig. 3.4: Graphical depiction of the momentary bubble of attention in the memory of an
OpenCog AI system, a few moments after the bubble shown in Figure 3.3, indicating the mov-
ing of the bubble of attention. Depictive conventions are the same as in Figure 1. This shows
an idealized situation where the declarative knowledge remains invariant from one moment to
the next but only the focus of attention shifts. In reality both will evolve together.

3.6 Postscript: Formalizing Pattern

Finally, before winding up our very brief tour through patternist philosophy of mind, we will
briefly visit patternism’s more formal side. Many of the key aspects of patternism have been
rigorously formalized. Here we give only a few very basic elements of the relevant mathematics,
which will be used later on in the exposition of CogPrime. (Specifically, the formal definition of
pattern emerges in the CogPrime design in the definition of a fitness function for “pattern min-
ing” algorithms and Occam-based concept creation algorithms, and the definition of intensional
inheritance within PLN.)
We give some definitions, drawn from Appendix 1 of [Goe06a];:

Definition 1 Given a metric space (M,d), and two functions c: M — [0,co| (the “simplicity
measure”) and F: M —> M (the “production relationship”), we say that P © M is a pattern
in X € M to the degree

HOUSE_OVERSIGHT_012969
"
IMAGES-010-HOUSE_OVERSIGHT_029149.txt,"the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029149
"
IMAGES-011-HOUSE_OVERSIGHT_032120.txt,"The Raleigh - South Beach

The Raleigh is different from most properties in South Beach, with a Starting

vibe that's more Deco cool than decked out to the nines. A stay here Thursday 4/8 at
feels a bit like a trip to the 1940s - dressed in whites one minute, casual

the next. It's all about lounging in style by the pool, which has hosted 8pm BST
everything from Esther Williams swimming routines to Chanel's cruise =
collection show. The Raleigh itself is a lot like that pool: cool, pretty and
a place to be seen.

Click here to preview sale

The Classic SoCal Beach Escape

HOUSE_OVERSIGHT_032120
"
IMAGES-001-HOUSE_OVERSIGHT_010478.txt,"‘TERSON
Epstein’s Palm Beach

property, 358 El Brillo
Way (© Chris Bott /
4 Splash News / Corbis)

1 don’t see what it adds to the

Py:

>stigation had taken
3ut, at that time, no cr
had been launched. And in

ors of Epstein's dealings

place, that
iminal

irs
the rum
1 to be just that —rumors.
editors, and his
One of the photographs
captured on video during the
Palm Beach Police Department
search warrant walk-through
of Epstein’s El Brillo Way
residence (Palm Beach Police
Department)

his lawyers, his
ing odd and disturbing happened

mn in Times Square.

e early. He swiped his
on, and arrived in
first floor.

to the offic
the elevator butt
ion area on the twenty-

ct time to review Ward's story.

n’s town house—which is said to ~
ce in New York City at the |

| Jeffrey Epstein’s 1969 high school
| yearbook photo (Lafayette High
| School, Brooklyn, New York, 1969)

residen 1
>, amid th
and pristine wh
ieone’s private Xan
person's home, but
that seems to have no b
ed not with paintings but w
eballs; these, the owner t€
m England, where the)
a marble foyer, W. ich
ubuffet... bu
t. In any

e flurry of menservants |
ite gloves, you feel
adu.” she'd wri ‘
a high-walle ,
oundaries:
ith row

id

t
2 = c ey

amed ey
nported fro
ors. Next comes
e manner of Jean D
visitors who painted i

’ Jeffrey Epstein, Coney Island

/ circa 1969 (Anonymous)

a
y:
be

HOUSE_OVERSIGHT_010478
"
IMAGES-005-HOUSE_OVERSIGHT_019384.txt,"To: Miami From: Miami
Re: 31E-MM-108062, 09/13/2006

bé -1
b7¢ -1
b7D -2

Please contact sat ed at
[sd] should any further Information be needed. 8 ~?

b7c -2
++

03956-97

___
HOUSE_OVERSIGHT_019384
"
IMAGES-001-HOUSE_OVERSIGHT_011766.txt,"/ BARAK /9

seemed to defeat the purpose of going into politics in the first place.

Still, I had no appetite for rushing into a challenge to Peres’s leadership, both
because it was bound to be difficult for both of us, and frankly because it seemed
rash, premature and maybe even unnecessary. Bibi was beginning the negotiations
to form a government, and that process was likely to take at least a few weeks.
Shimon had yet to signal whether he did intend to stay on. Still, when he invited
me for a late-night chat at his apartment a week after the election, I was concerned
he might raise the leadership issue and I knew that, if he did, I would have to be
honest and open with him.

The conversation went very differently than I’d expected. After he’d poured
each of us a glass of Armagnac, and offered me a plate of Sonia’s cakes, he spoke
for a while about Bibi, though he could not even bring himself to utter the name.
This man, he said, knew nothing about leadership, much less about running the
country. He would be outmaneuvered, overshadowed and ultimately controlled by
the “real strongman” in the Likud: Arik Sharon. I said I thought we were again
underestimating Bibi’s strength, as well as the effect of the country’s new electoral
system. He was the first Prime Minister to enjoy a direct, personal mandate. That
turned upside down the balance of power and influence in our politics. As he
assembled his coalition, the other parties, if they wanted to be in government,
would have to deal with him on his terms. So, to a much greater extent than before,
would potential internal rivals.

As we talked, I was struck that Shimon seemed resigned to the election defeat,
relaxed, more at ease with himself than at any time since the start of the grueling
campaign. Then, quite suddenly, he said: “Ehud, I understand the meaning of the
election result. “You will have to take on the leadership, and lead the party.” He
said he didn’t plan to spend the rest of his years hanging around the apartment. He
would remain active — “working for peace” — but no longer in the party political
arena. “I understand the meaning of what has happened,” he repeated. “I will pass
the Labor leadership torch to you. We should find a way to do it quickly, and in the
right way.”

It was nearly three in the morning when I left. I was not just surprised, but
touched, by what he’d said. Shimon was now nearly 73. He’d had a life in our
country’s politics, and in Labor, stretching back to before the state, when he’d been
a favored protégé of Ben-Gurion. Walking away was going to be hard. I was

295
HOUSE_OVERSIGHT_011766
"
TEXT-002-HOUSE_OVERSIGHT_032988.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 3/5/2017 3:53:26 PM 
To: Larry Visoski 
Subject: Re: TSA 
Importance: High 
ok 
On Sun, Mar 5, 2017 at 10:52 AM, Larry Visoski ‹> wrote: 
Jeffrey 
TSA called me,. They inform closing TSA inspection at 3pm„ 
Asked if we could depart 2:30pm,? 
Is 2:30pm ok for departure„ 
Otherwise it would be after Trump's departure between 4 and 5pm 
Is 2:30pm inspection / departure ok? 
Thx 
Larry 
Sent from my iPhone 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032988 
"
IMAGES-010-HOUSE_OVERSIGHT_028531.txt,"From: ehud barak'

Sent: 9/16/2013 11:12:33 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fwd: Summers withdraws from Fed race

A major blow to a friend. Lest BO takes him to replace JL.
Now he'll probably be free in the next few days. EB

Sent from my iPad

Begin forwarded message:

From: ""FT Breaking News"" <FT@emailbriefings.ft.com>
Date: 15 23:50:52 2013 1am0u»02 GMT+03:00

To:

Subject: Summers withdraws from Fed race
Reply-To: ""FT Breaking News"" <FT409AS2.6532248@emailbriefings.ft.com>

To view this email as a webpage, click here

Sunday September 15 2013

BREAKING NEWS

Summers withdraws from Fed race

Lawrence Summers has taken himself out of the running to be the next chair of
the Federal Reserve, withdrawing his name after opposition from key Democratic
senators indicated they would oppose his nomination.

Mr Summers, a former Treasury Secretary and senior economic adviser to
Barack Obama in his first term, galvanised opposition among left-of-centre
Democrats who painted him as symbol of the wrongs of financial deregulation.

——e =e

Manage email / Forward this email

HOUSE_OVERSIGHT_028531
"
IMAGES-009-HOUSE_OVERSIGHT_027929.txt,"to adapt on the ground. And obviously pleased that we’d found a way to make
the operation work.

The Sinai mission marked a transition not just for me, but for others in
Sayeret Matkal as well. Avraham Aranan finally left the unit he’d imagined,
created and built. He became the head of the technology unit in military
intelligence. His deputy, Dovik Tamari, succeeded him, serving the first in what
would become two-year stints for each of his successors as the sayeret’s
commander. I, too, was given a wider role. Though I was still just a young
lieutenant, and too junior for the job, Dovik made me his de facto deputy, with
responsibility for operational oversight of our missions. I returned to the Sinai a
year later, not in that capacity but because of my on-the-ground experience, to
accompany a sayeret team which installed an intercept on a second Egyptian
communications cable.

Though the tzalash was gratifying, what gave me more satisfaction, and
pride, was the importance of the Sinai operations themselves. I was confident
that if we did have to go to war again, the equipment we installed, along with
the bugs on the Golan, would give us an essential edge. But in truth, I didn’t
actually believe there would be another war. Sure, the threat was still there.
Egypt, in particular, still seemed determined to find a way to hobble, and if
possible eliminate, Israel. But especially since the 1956 war, the fedayeen
attacks, and cross-border skirmishes, had been subsiding. Not long after the
second Sinai intercept mission, I was chatting with other officers on the sayeret
base and remember turning to one of them and saying I was sure that by the
time I was married and had a teenage child, we’d be able to take a skiing
holiday in Lebanon. We didn’t have peace yet. That might take time. But I felt
that things were getting more normal.

I began thinking what that would mean not just for Sayeret Matkal or Israel,
but for my own future. By the autumn of 1964, Pd reached a decision: to end
my active service in the unit that had been central to my life since leaving the
kibbutz. Dovik did persuade me to delay, for nearly a year. But at the end of the
summer of 1965, I left Sayeret Matkal. In fact, I left the army altogether. I went
to study mathematics and physics at Hebrew University in Jerusalem. I would
remain involved in the sayeret as a reservist. But I couldn’t see devoting my
adult life to military service in a country which, fortunately, seemed on a
trajectory toward peace. I had spent five years in an extraordinary unit. It had
been more fascinating and fulfilling than I could have dreamed of when I’d

81
HOUSE_OVERSIGHT_027929
"
IMAGES-007-HOUSE_OVERSIGHT_024192.txt,"11.40 PM:

Monday, 1 October 2012

10.00 AM- 06.00 PM:

Around 04.00 PM:

Tuesday, 2 October 2012

10.00 AM- 10.30 AM:

1.00 PM:

11.00 PM:

Thursday, 4 October 2012

11.20 AM:

Incoming Requests

TBC:

Between 24"" & 29"" Sep:

TBC:

Shabeen’s Departure
o Location: JFK
o Flight # OR 84

Forum of Small States (FOSS) Conference on Small States
Location: UN North Lawn Building, Conference Room 3
EF-M+PR

Singapore Foreign Minister (Confirmed)
o Location: on sidelines of FOSS, UN North Lawn Building,

Conference Room 3
o Foreign Minister

Bilateral Meeting with H.E Ms. Heidi Hautala, Minister of
International Development of Finland (Confirmed)
o Location: Booth Requested
o Foreign Minister+ Aliny +PR+ Nee

SAARC Informal Luncheon/ Meeting
o Location: Helmsley Hotel
o Foreign Minister +PR

Minister of Foreign Affairs depart from JFK
o Flight # EK 202

Aliny’s Departure
o Location: JFK
O Flight # EK 204

Christian Mission for the United Nations Community (TBC)
o Requesting a meeting with HEP

Bilateral with Georgia Foreign Minister (TBC)
o Location: TBC
o Foreign Minister
o Contact: Ms. Neli Shiolashvili, Tel: 212 759 1949
Email:n.shiola@gmail.com

Publisher & Editor PODER Magazine (TBC)
o Requesting a meeting with HEP

HOUSE_OVERSIGHT_024192
"
IMAGES-008-HOUSE_OVERSIGHT_024869.txt,"COWEN
COLLABORATIVE INSIGHTS February 25, 2019

The below chart provides a condensed visual snapshot on company pricing in the
preceding category discussions. We would highlight the broad number of categories
that multiple emerging private companies are actively competing in, which is expected
to increase as the category continues to gain momentum.

2

Below we provide company descriptions on some of the more notable public and private
companies currently competing within the space.

Figure 99 Condensed Pricing Heat Matrix By Company And Category

CBD Price/MG Summary Matrix

Tinctures Capsules Gummies Confections Bath Bombs Topicals Beverages
baceae $0.17
Beboe
Canna Hemp $0.08 $0.10 $0.12
Casa Luna
cbdMD $0.08 $0.07 $0.08
Charlotte's Web $0.08
CV Sciences $0.16
Diamond CBD $0.22
Elixinol $0.11
Green Roads $0.20
Hemp Bombs $0.11
Highline
Lazarus
Lord Jones
Mary's Medicinals
Mr. Moxey's
Papa & Barkley
Premium Jane
Pure Kana
Recess
Reliva
Sprig
Sunday Scaries
Veggimins
Willie's

Note: Blue highlight denotes higher price point, gray denotes lower price point. Balms and Bath Bombs for Mary’s Medicinals represent Mary’s Nutritionals.
Source: Company Websites and Cowen and Company

COWEN.COM 53

HOUSE_OVERSIGHT_024869
"
IMAGES-011-HOUSE_OVERSIGHT_030737.txt,"From: Steve Bannon nn

Sent: 8/20/2018 2:21:37 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Steve Bannon says GOP must rally behind Trump to survive | News & Observer

Importance: — High
Yes

but let's discuss--their is a crazed jihad against u--ive never seen anything like it--and I've seen a lot
Sent via BlackBerry by AT&T

From: ""jeffrey E."" <jeevacation@gmail.com>

Date: Sun, 19 Aug 2018 22:17:38 -0400

To: Steve Bannon

Subject: Re: Steve Bannon says GOP must rally behind Trump to survive | News & Observer

AHHHH thats more like it, , we need to find you the exorcist hat. ! . do you think you might want to
come to europe?

On Sun, Aug 19, 2018 at 9:41 PM, Steve Bannon {qq wrote:

https://www.newsobserver.com/news/business/article2 16997195. html

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030737
"
IMAGES-012-HOUSE_OVERSIGHT_033086.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033086
"
IMAGES-004-HOUSE_OVERSIGHT_017938.txt,"Case 1:19-cv-03377 Document 1 Filed 04/16/19 Page 4 of 28

10. In December 2014, Roberts, who had not initially been part of the CVRA action,
was asked to, and did, provide information to Plaintiffs’ counsel in the CVRA case in which she
discussed her sex trafficking by Epstein. On December 31, 2014, Plaintiffs counsel in the
CVRA proceeding (Brad Edwards and Paul Cassell) filed a Motion Pursuant to Rule 21 for
Joinder in the Action (“Joinder Motion”) on behalf of Roberts. Ms. Roberts’s joinder motion
described how she had been sexually trafficked by Jeffrey Epstein and was forced to have sex
with, among others, Alan Dershowitz.

11. Based on Plaintiff’s December 2014 filing, Dershowitz, as he had previously done
to Epstein’s victims, publically and viciously attacked plaintiff's counsel in the CVRA actions,
Brad Edwards and Paul Cassell. Dershowitz, in nationally televised news interviews, wrongfully
claimed that Edwards and Cassell had engaged in unethical behavior warranting disbarment for
filing the Joinder Motion that described Dershowitz’s involvement with Epstein and Roberts.
Edwards, who is a prominent attorney for sexually abused women and children, and Cassell who
is a former United States District Court judge who left the bench to advocate for criminal
victims, sued Dershowitz for defamation. Edwards and Cassell asserted that the factual
allegations that Dershowitz had knowledge of and participated in Epstein’s criminal conduct
were entirely proper and well founded and that Dershowitz’s statements about Edwards and
Cassell were defamatory.

12. ‘In April 2016 Dershowitz settled the Edwards and Cassell defamation claims
against him. As a condition of the settlement, Dershowitz required that the financial terms of the
settlement be kept confidential.

13. In November 2018, after conducting a lengthy investigation that involved

interviewing over eighty (80) women, the Miami Herald published the first in a series of articles

HOUSE_OVERSIGHT_017938
"
IMAGES-011-HOUSE_OVERSIGHT_031429.txt,"The reassignment means that the U.S. attorney for the Northern District of Georgia, Byung J. “BJay” Pak, will
oversee the case for the government. Pak, a former Georgia lawmaker, was appointed Atlanta’s chief federal

prosecutor by President Trump in October 2017.

The Justice Department is still under a Friday deadline for prosecutors to confer with the victims’ attorneys in
an effort to settle the case. On Feb. 22, U.S. District Judge Kenneth A. Marra in Palm Beach ruled that federal
prosecutors, under former Miami U.S. Attorney Alexander Acosta, broke the law when they concealed a plea
agreement from more than 30 underage girls in Palm Beach who had been sexually abused by Epstein, a

multimillionaire New York hedge fund manager.

Marra stopped short of voiding the agreement, which granted Epstein and an untold number of accomplices
immunity from federal prosecution for sex trafficking crimes, provided Epstein plead guilty to minor charges in
state court. At the time of the plea deal, federal prosecutors had gathered enough evidence against Epstein to

write a 53-page federal indictment, court records show.

Play Video
DurationA

12:20
The story behind a Palm Beach sex offender’s remarkable deal

The story behind a Palm Beach sex offender’s remarkable deal

Emily Michot

An investigation by the Miami Herald, “Perversion of Justice,’’ found that after Acosta met privately with one
of Epstein’s lawyers, the government agreed to seal the plea agreement so that no one — not the victims, not
even the state court judge who sentenced Epstein — would know the full extent of his crimes. Epstein, now 66,
was allowed to plead guilty to prostitution charges and served 13 months in the Palm Beach County jail, where
he was given liberal work release, and allowed to travel to New York and his private island in the Caribbean
during his subsequent house arrest. He was released in 2009, and now divides his time between New York,
Palm Beach and the U.S. Virgin Islands.

The Herald interviewed four of Epstein’s victims, who were as young as 13 at the time they were abused by
Epstein. They said they felt betrayed by state and federal prosecutors, who treated them like prostitutes instead
of victims. Two of them sued the federal government in 2008 under the Crime Victims’ Rights Act, which

grants crime victims the right to be informed about plea deals and to confer with prosecutors.

Marra, in a 33-page opinion, said prosecutors not only intentionally violated the Crime Victims’ Rights Act, but
they misled the girls into believing that the FBI’s sex trafficking case against Epstein was ongoing — when, in

fact, prosecutors had secretly closed it after sealing the plea bargain from the public record.

Marra, noting that he reviewed affidavits, depositions and interrogatories, said “Epstein worked in concert with

others to obtain minors not only for his own sexual gratification, but also for the sexual gratification of others.’

HOUSE_OVERSIGHT_031429
"
IMAGES-007-HOUSE_OVERSIGHT_023825.txt,"Knowledge-Based Education vs. Process-Based Education 79

idea that one needs background knowledge in order to read, which is
both true and a product of various works in cognitive science.

Hirsch was made to look like a fool so often that he resorted to hir-
ing a cognitive science professor at Virginia, who has written a book
justifying the same nonsense with more cognitive science facts.”

There is plenty of work in cognitive science that shows that back-
ground knowledge helps people interpret the world around them, and
thus reading, for example, is facilitated by having knowledge about
the world about which you are reading. This idea, however, does not
imply that ramming facts down a kid’s throat is the way for them to
acquire that background knowledge. Knowledge acquisition is a natu-
ral result of engaging in cognitive processes that are being employed
to satisfy a truly held goal.

If you are trying to find your way around a city, you will learn the
streets of that city and develop what is called a cognitive map. If you
try to memorize those same streets, it simply won’t work. Real knowl-
edge is acquired as a natural part of an employed cognitive process in
service of a goal. But Hirsch and Willingham know nothing about cog-
nitive processes. They only know, and talk about, how best to acquire
more facts. Politicians listen to them and there are more tests to make
sure those facts have been acquired. No one remembers Algebra II or
much about the Founding Fathers because that stuff is mostly facts
acquired independent of any real goals that will employ those facts.
Knowledge is not the real issue in education or in mental life. The
real issue is developing facility with doing various cognitive processes.
Knowledge comes along for free with practice of these processes in
specific domains.

There is no evidence whatsoever that accumulation of facts and
background knowledge are the same thing. In fact, there is plenty of
evidence to the contrary. Facts learned out of context, and apart from
actual real-world experience that is repeated over and over, are not
retained.

Why don’t kids like school? Because we teach them knowledge
that they know they won’t need. How do they know this? They know
that their parents don’t know this stuff—that is how. Many kids don’t
like math much and it is clear why. They find it boring and irrelevant
to anything they care about doing. If we think math is so important,
then why not teach it within a meaningful context, where it actually
is used? There is plenty of evidence that shows that teaching math

HOUSE_OVERSIGHT_023825
"
TEXT-001-HOUSE_OVERSIGHT_025094.txt,"Translated by Donna Lee Hicks 
Cecil!la 001-1203435-0 
Tel.: Celular: 
E-mail: 
www.sdlanguagesolutions.com 
RPE No. 30793  
Cuba in its new stage: SWOT Analysis 
Fundacion Internacional para la Libertad (""International Foundation for Freedom"") 
New York, 8 November 2015 
On August 14th, 2015, the United States flag was raised in Havana, formally reestablishing diplomatic 
Relations between the United States and Cuba, which had been interrupted since January 3, 1961, 
some 54 years ago, when Ike Eisenhower was in power in Washington and Fidel Castro in Havana. 
The President of the United States, Barack Oba ma, and his Secretary of State, John Kerry, among many 
other personalities, have requested the lifting of the economic embargo imposed on Cuba by John F. 
Kennedy in 1962, in the midst of the Cold War, and in recent days through Havana have come Germans, 
French, Dutch, and Spaniards to propose bridges to the Island. 
The perception is that Cuba, the largest of the thirteen markets in the Caribbean and with the largest 
population, followed very closely by the Dominican Republic, again opens itself up to international trade 
and relations. 
Overview of the Spanish Antilles 
Cuba: 110,860 Km2 — 11,031,000 inhabitants — GDP per capita (PPP) US$10,200. 
Dominican Republic - 46,670 km2 — 10,349,741 inhabitants — GDP per capita (PPP) US$12,800 
Puerto Rico: 13,790 km2 — 3,620,897 inhabitants — GDP per capital (PPP) US$16,300 
For purposes of brevity and objectivity, given the composition of this audience, I'm going to employ the 
structure of the so-called SWOT analysis for contributing to the business decision of investing in that 
market, refraining from doing so, or awaiting greater clarity and better times. It will not be my function 
to recommend what should be done, but rather to place certain data and basic elements on the table for 
decision-makers. They will know what is best for them to do. 
The SWOT analysis, as we know, lists the positive Strengths, the present Opportunities, the Weaknesses 
perceived, and the Threats detected. 
Strengths 
1. The thawing announced simultaneously by Presidents Barack Obama and Ratll Castro 
last December 17th, to which are added the various steps taken by both governments in 
HOUSE OVERSIGHT 025094 
the direction of reconciliation, have created an atmosphere of triumphalism regarding 
the economic future of Cuba loaded with good expectations. 
2. According to the surveys, support for Obama's measures is notably of the majority in 
both the United States and Cuba, but there are reasons to believe that a substantial 
percentage of Cuban exiles also support it. 
3. As part of this approach, it's expected that some or many foreign companies will explore 
the possibility of investing in the Island. There is significant human capital available in 
Cuba: over eight hundred thousand university students and a generally healthy and 
educated populace. 
4. The Cuban government, after 56 years of continuous exercise of power, appears solidly 
in control of the situation, without any person or group whatsoever that visibly 
challenges its authority with any possibility of success. 
5. After Hugo Chavez's election to the presidency of Venezuela at the end of 1998, that oil-
producing country transferred to Cuba enormous amounts of resources. The economist 
Carmelo Mesa-Lago calculates the annual amount of aid at its highest point as thirteen 
billion dollars. 
6. A quarter century after the disappearance of the Communist block, the Castro 
government, together with North Korea, has shown itself to be the exception to the rule: 
It has maintained control without renouncing the principles of Marxism-Leninism and 
the single party system, although cautiously attempting to modify its productive 
apparatus. 
7. In that spirit of ""reforms-within-the-system,"" in April 2010 Raul Castro presented what 
are known as Guidelines, outlining his reform of the State, creating spaces for foreign 
investment and ""freelancers."" 
8. The most important or most visible institutions in Cuban society, such as the Armed 
Forces and the Assembly of the People's Power, appear to fully support the steps taken 
by the president, General Rail Castro, in the direction of a re-encounter with the United 
States. 
9. Some foreign offices of the European Union, such as the Spaniards, the Germans, and 
the Dutch, look favorably on what is happening, as does the Vatican, which has 
participated in the secret meetings to bring an end to the conflicts between Cuba and 
the United States. Pope Francis has announced his upcoming visit to Cuba as a kind of 
support for the changes. 
10. Cuba exercises enormous influence in the countries of the ALBA, and the clear 
leadership of the group known as the nations of the XXIth Century Socialism: Venezuela, 
Bolivia, Ecuador, and Nicaragua. 
11. To this list we must add the sympathy and solidarity that Cuba inspires in governments 
such as those of Argentina, Brazil, Uruguay, Chile, and El Salvador. In summary, the 
Island has never had a more international identification. 
Opportunities 
1. The country needs to rebuild almost all of its infrastructure. Everything is obsolete or in 
ruins: aqueducts and sewerage systems, electrical grids, the Internet, bridges and roads, 
telecommunications, homes and buildings. 
2. There is fertile land for the local production of food. Cuba imports 80% of the food 
consumed by people and animals. Before 1959 the proportion was reversed. 
HOUSE OVERSIGHT 025095 
3. The sugar industry, which before the revolution was the backbone of the economy, with 
an annual average production of six million tons, has dropped to two. 
4. Tourism is a very promising field. The Island, very beautiful and with dozens of beaches, 
has at least 14 points on both coasts that are potentially transformable into ideal sites 
for building tourism poles similar to Puerto Banils in Spain or Casa de Campo in La 
Romana, Dominican Republic. 
5. Considering the number of researchers in the field of medicine, totally under-utilized, 
the country would potentially be the perfect partner of large international 
pharmaceutical industries, to both develop new medications and produce them. 
6. Given the prestige (today somewhat reduced) of its health system, Cuba is potentially an 
excellent site for medical tourism and a place to establish links with the North American 
insurance systems. Havana is much closer to Key West than Miami is to Orlando in 
Florida. 
7. Whenever relations are really normalized and travel is facilitated and multiplies, Cuba 
will become an ideal place to retire for tens of thousands of Cuban Americans and North 
Americans who perceive an average of US$1,800 a month. 
8. Cuba receives some three million tourists every year, and has eleven million inhabitants. 
In a few years it could receive eleven million tourists and reach the classification of 
paradise. A few daring and intelligent developers could transform the Isle of Pines, in 
Cuba's south, into the Mallorca of the Caribbean. In the United States there are 300,000 
luxury yachts that could visit Cuba and dock in already existing as well as future marinas. 
9. If relations between the United States and Cuba continue to deepen, it's possible to 
foresee a Free Trade Agreement that would allow the Island unlimited exports to the 
richest market in the world. 
10. Because of its geographical position, Cuba is an ideal hub for the distribution of ocean-
going and air cargo to North and South America. 
11. Cuban-Americans, as occurred in the case of Taiwan and China, could transfer to Cuba 
their business expertise, their relationships, and the capital they've created, which 
would integrate the Island into the business and trade world of the United States. 
12. The country, as happened in post-Communist Europe, would be the paradise of the best-
known North American fast-foot franchises such as MacDonalds, Burger King, KFC, etc.. 
13. The same thing would occur with department store chains: Zara, Corte Ingles, Macys, 
Sears, and the rest of the best known establishments. 
Weaknesses 
1. The government of Raul Castro doesn't want a regime change but rather an 
improvement of the Communist model initiated in 1959. According to published and 
verbal statements, the model foreseen isn't even the Chinese or Vietnamese model, but 
rather a Military Capitalism of State, where the government reserves the control of the 
2,500 largest enterprises in the country, which it exploits directly through the military 
apparatus or in partnership with foreign capitalists. Cubans will not have access to the 
means of production, but rather to small service enterprises (small food businesses, 
beauty salons, etc.). 
2. The government of Raul Castro does not believe, as Deng Xiaoping proclaimed in 1992, 
that ""enriching oneself is glorious."" Raul and Fidel continue to believe that capitalism is 
an evil expression of the worst human tendencies, and despite those who practice it. In 
Cuba, entrepreneurs are not encouraged, but discouraged. Capitalists may be 
HOUSE OVERSIGHT 025096 
temporarily necessary, but always under the strict control of the political police in order 
to avoid ideological contamination of the people and the excesses of which they are 
capable. The government continues to uphold the supremacy of centralized planning 
over the market, and the virtues of frugality and non-consumption. 
3. If an entrepreneur wants to evaluate the country risk before investing anywhere, he 
looks at the Moody's or Standard & Poor's ratings. According to these risk rating 
companies, Cuba appears on the most dangerous fringe. There is a very long history of 
arrests or simply noncompliance with obligations, and of re-financing which has turned 
out to be useless. They haven't been able to pay their debts due to a serious and basic 
problem: Cuban society is very unproductive due to the collectivist economic system 
that they have imposed on it, and because of the size and priorities of public 
expenditures decided on by the government. 
4. The Cuban State lacks substantial reserves, and barely generates sufficient income to 
survive from month to month. This means that it does not have its own resources to 
undertake the large public works that it needs, and it requires international loans in 
order to confront them, which becomes a serious problem because it does not possess 
reliable credit. 
5. In Cuba there are no impartial courts to which one can resort in the case of a dispute of 
civil law, much less criminal law. There is an absolute legal defenselessness in the face 
of any conflict with the government or with a state-owned enterprise. The government, 
according to its needs, arbitrarily pursues, imprisons, or releases any citizen, including 
foreign businessmen with whom it has a dispute. In other words, the reverse of a true 
State of Law. That circumstance can be testified to by dozens of persons, including the 
Panamanian Simon Abadi, the Chilean Max Marambio, or the Canadian SArkis 
Yacoubian. 
6. Foreign businessmen located in Cuba live under the ""not-so-discreet"" surveillance of the 
security forces, always in the paranoid search for the mythical and evil agent of the CIA. 
Many of the Cuban officials and simple neighbors or potential friends don't dare to link 
themselves to foreign businessmen out of fear of losing the government's trust, or are 
forced to inform in writing about any voluntary or involuntary contact they've had with 
them. 
7. Cuba has not resolved the very important problem of currency. Officially, the dollar 
exchange is approximately on a par with the Cuban peso. On the parallel market it's 24 
pesos to 1 dollar. Cubans collect in pesos, but the government sells to them in dollars, 
which creates significant dissatisfaction and an obvious sense of injustice. 
8. Salaries are very low (some US$24 a month), which determines the nonexistence of a 
potential market of 11 million consumers. Cubans have the lowest purchasing power 
per capita in Spanish-speaking America. 
9. The banking system is insufficient and primitive. Dollar deposits — as has happened in 
the recent past — may be frozen at the discretion of the government. 
10. Bureaucracy is very slow and insecure. Officials don't dare to make decisions, and the 
instructions they receive are sometimes contradictory. 
11. The hiring of workers is done through a state-owned company that charges investors in 
dollars and pays in pesos to the Cubans assigned to these jobs. In the transaction, the 
Cuban State keeps 94% of the salary. That practice contravenes international 
agreements signed with the ILO. 
12. For over half a century, Cubans have been accustomed to stealing from the State in 
order to survive, by swelling on the black market the product of that theft. These habits 
HOUSE OVERSIGHT 025097 
are transferred to the private sector, particularly because they have lived under an 
intense propaganda campaign against the capitalist exploiters. They know that 
socialism leads to disaster, but they believe that capitalism is an activity of hungry 
wolves. 
Threats 
1. A substantial part of the policy of reconciliation between Obama and Rat.11 Castro 
depends on the lifting of the embargo. Although there is great pressure from the White 
House, and surveys showing that the majority of Americans want the sanctions to end, 
there are no guarantees that this will be achieved during this presidency. Neither can 
one predict what will happen with the relations between the two countries if the next 
elections are won by a Republican candidate. Two of the most prominent ones, Jeb 
Bush and Marco Rubio, have criticized President Obama for his new Cuban policy. 
2. The repeal of the 1996 Helms-Burton is one of the key requirements for Cuba to be able 
to approach the IDB, the IMF, or the World Bank. Without that credit, which requires 
Cuba's affiliation with these organizations, the Island will have no access to loans to 
rebuild the costly infrastructure that the country needs. It's a very slow process that will 
take a great deal of time. 
3. Cuba depends in large measures on subsidies from Venezuela, and Chavism is going 
through a very bad time, which could end up in its destruction and substitution with a 
government unfavorable to ""the Cubans."" The disappearance of Chavism in Venezuela 
would be an economic and political catastrophe for Cuba. Today the popularity of 
Nicolas Maduro is less than 20%. 
4. The political stability of the Cuban regime until now has depended on control by Fidel 
and Rat.11 Castro. Fidel just turned 89, and Rat.il will be 84 in June. With them the 
generation of the revolution will come to an end, giving way to younger people, led by 
RaCJI Castro's chosen heir, Engineer Miguel Diaz-Canel, who is 55. What's going to 
happen then? Could the regime transmit the authority within the Community single-
party model without the old leaders who until now have lent shape and sense to the 
government. Will there arise other candidates with uncontrollable ambitions, 
presumably young military men, with the intention of taking command? Nobody knows. 
Nevertheless, Cuban history has been bloody when regimes reach their end. They are 
replaced by violence. 
5. It will be very risky to invest in properties confiscated from their legitimate owners 
during the first years of the revolution. In both the United States and Spain there are 
organizations of those injured who are willing to go to court in defense of their rights, 
and who have hired lawyers to do just that. Originally the victims of the confiscations 
were North Americans or Spaniards, but over time Cuban-Americans and Hispano-
Cubans have been added. Both the United States Congress and Senate and the Spanish 
Parliament have legislators with these origins. 
6. What will probably happen will be something similar to the case of Nicaragua. 
Nicaraguan exiles, infinitely fewer in number and power than the Cuban-Americans, 
without congressmen in Washington with their origins, managed to condition American 
aid to the solution of the confiscations they had suffered during the first decade of the 
Sandinista government. What's predictable is that the injured Americans, together with 
the Cuban-Americans, will manage to halt any American aid or benefit destined for Cuba 
until their property is returned to them or they are compensated for them. 
HOUSE OVERSIGHT 025098 
7. Although in the tourism sector there is an evident possibility of making money in Cuba, 
it's doubtful that the North American hotel industry, almost all present on the Stock 
Exchange, subject to North American legislation and union pressure, would lend itself to 
collaborating with the Cuban counter-intelligence by facilitating eavesdropping/wire-
tapping and clandestine filming inside hotel installations, such as today occurs in Melia 
and other European chains, violating even Cuban law which supposedly defends the 
inviolability of privacy. American lawyers are very clear about the high price German 
companies had to pay when they associated themselves with Nazism, as occurred with 
Volkswagen and Bayer. 
8. Even though this is not a matter of investing in a country living under a dictatorship, but 
rather of associating oneself with a dictatorial government in order to exploit workers 
and companies, it's very possible that, whenever the opportunity presents itself, those 
businessmen linked to the Cuban government are going to be accused in court because 
of the confiscation of 94% of the salary through the exchange of dollars for pesos and 
other violations of the rules of the International Labor Organization. Workers' claims 
will be very high, and there are American law firms willing to bring them in exchange for 
a percentage of whatever is eventually received. 
9. Lastly, two articles of the Cuban constitution profile the inflexibly Communist nature of 
the regime, and become a permanent threat against foreign investors. Article 5: The 
Communist Party of Cuba, Marti-inspired and Marxist-Leninist, organized vanguard of 
the Cuban nation, is the superior directing force of society and the State. Article 62: 
None of the liberties recognized to citizens may be exercised against what is established 
in the Constitution and laws, or against the decision of the Cuban people to build 
socialism and communism. The violation of this principle is punishable. 
HOUSE OVERSIGHT 025099 
"
IMAGES-006-HOUSE_OVERSIGHT_020965.txt,"Unfunded Entitlement (Medicare + Social Security) + Underfunded

Entitlement Expenditures (Medicaid) =
Among Largest Long-Term Liabilities on USA Inc.'s Balance Sheet

USA Balance Sheet Liabilities Composition, F2010

Unfunded Medicaid*
Medicare
$35.3T
Unfunded $22.8T
All se Veteran Federal Social
Other Benente Benefits Debt Security
$7.9T

$1.6T $2.1T $3.7T $9.1T

2 ®@ lL

Note: Medicaid funding is appropriated by Congress (from general tax revenue) on an as-needed basis every year, therefore,

there is no need to maintain a contingency reserve, and, unlike Medicare, the “financial status” of the program is not in question

from an actuarial perspective. Here we estimated the net present value of future Medicaid spending through 2085E, assuming a

i 3% discount rate. Data source: Dept. of Treasury, Dept. of Health & Human Services Center for Medicare & Medicaid Services.
www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 247

USA Inc.’s Financial Disconnect

The country faces a fundamental disconnect between the
services the people expect the government to provide,
particularly in the form of benefits for older Americans, and
the tax revenues that people are willing to send to the
government to finance those services. That fundamental
disconnect will have to be addressed in some way if the
budget is to be placed on a sustainable course.

- Douglas Elmendorf, Director of U.S. Congressional Budget Office, 11/10/2009

KP
www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 248

HOUSE_OVERSIGHT_020965
"
IMAGES-010-HOUSE_OVERSIGHT_029607.txt,"communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029607
"
TEXT-002-HOUSE_OVERSIGHT_032778.txt,"From: Michael Wolff 
Sent: 6/22/2018 3:17:02 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
So...a couple of times a year somebody can cull the Internet and write an article about you that recycles every 
other article. That's a reason to try to create a new story. But, on the other hand, by not offering new news the 
old seems just ho-hum. 
On Fri, Jun 22, 2018 at 4:51 PM jeffrey E. <jeevacation@gmail.com> wrote: 
https://www.thedailybeast.com/how-did-trump-and-clinton-pal-jeffrey-epstein-escape-metoo 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032778 
"
IMAGES-001-HOUSE_OVERSIGHT_011996.txt,"Recommendaticn Letter
22/09/14

USCIS

Vermont Service Center

75 Lower Welden Street

St, Albans, VT 05479-0001

RE: 0-1 Non-immigrant Viea Petition on behalf of Jean Luc Brunei

It is ax extreme picasure to write 6 letter of recommendation for Mr. Jean
Luc Brunel. f provide thie recommendation based on my knowledgr and

nce in the field of modeling, due to my ecatablished reputation and
work in the field as the Viadimir Yudashkin, director of 1 Mother Agency.
Kiev, Ukraine

I have known Jean Luc Brunel professionally for several: yeare through
our work together and, in my opinion, he ie an extremely talented
individual] with superb professional reputation. He is an lextraordinarily
able coordinator who atrives for and attains a level of merit in his work
that only a few of his contemporaries meet. He haz the ability to
recognize the creative vision of his client within the time and budget
through his careful and thoughtful choice of model casting combined
with his meticulous ability in the eld. Jean Luc Brune! ip a true find in
our industry. |

There are plenty of art directors out there, but none with the depth and
quality that Mr. Brunel posseseca. He is unlike anyone in this industry,
and I expect to see him continue to find great models in hia successful
career. Someone overflowing with talent as Jean Luc Brunel should be
given every opportunity to work in the United States, where he will have
the proper venurs to showcase his extraordinary talents.

Please do not hesitate te contact me should you have ‘any questions
regarding this matter. Lice you for your time and -ednsideration.

Sincerely,

HOUSE_OVERSIGHT_011996
"
IMAGES-006-HOUSE_OVERSIGHT_022182.txt,"ERSON

t for the Palm Beach Police

at Mar-a-Lago, Detective Joe
‘ach Police Foundation Police
several honors he received in
ar career in Palm Beach. Two
and took a job as director of
Beverage company.
olice Department] longer than
- told a reporter for the Palm
m going to miss a majority of
, obviously, I’m going to miss
mily. Like many families, you
mily members. But you over-
ind you're a team. I’m going to
yple 've worked with.”
el Reiter left the department in
the job. He now runs his own

nel sued his old friend Jeffrey
| from grace had cost him milk
ed him “severe emotional stress.” J
Brunel is emotionally destroyed

Fittuy Ricu

as a result of Epstein’s actions and the resulting effects on his busi-
ness. He has been on medications to deal with the effects of this.”

It continues: “Defendant Epstein recklessly inflicted emotional
distress on Plaintiff Brunel by engaging in illegal conduct with
under-aged girls, which was falsely linked to Plaintiff. ... This ille-
gal conduct was extreme and outrageous by any standard.”

The suit went on to quote Brunel's doctor, who said that the
modeling scout had gone into psychotherapy “due to a subjective
sense of depression related to what he believes is a loss of business
in his modeling agency as a result of slander published against his
business.” Brunel had gone on prescription drugs—Prozac,
Rivotril—as a result.

The fashion world had frozen him out, he said, after his relation-
ship with Jeffrey Epstein had become public. It had become impossi-
ble for him to find the “fresh faces” he needed for his agency, MC2.

Brunel acknowledged Epstein’s alleged crimes but denied his
own involvement. “Epstein’s illegal activities were outrageous
and extreme; they involved receiving massages from the under-
aged girls while the girls were nude or nearly nude; penetration
of the girls with a finger or object; or full intercourse.”

When the Daily Beast reported the story and reached out to
Brunel for a comment, the website’s reporter was told, “Jean-Luc
is not in town; he’s in South America.”

Brunel's agency, MC2, is still in business.

Jeffrey Epstein

As of this writing, Jeffrey Epstein continues to entertain young
women at his Manhattan town house.

HOUSE_OVERSIGHT_022182
"
IMAGES-011-HOUSE_OVERSIGHT_032108.txt,"“New and noteworthy"" is a term that gets tossed around a lot in the travel world, but we're taking it seriously to heart this week
at Jetsetter. The ""new"" is the Dream Downtown NYC, a hip, reinvented space at the crossroads of Chelsea and the
Meatpacking District (MePa, if you really must). The ""noteworthy"" is a little thing called skydiving at Mount Everest. Whether
it's lounging poolside in New York or jumping out of a plane in full view of the world's highest mountain, there's a lot going on
this week. Read on for all the details, including properties in Paris, San Francisco, Vegas, Miami and more. (Image: Skydive
Mount Everest - on sale Sat, Aug 6.)

Hip Manhattan Newcomer... with Real Sand

Dream Downtown - NYC

HOUSE_OVERSIGHT_032108
"
IMAGES-010-HOUSE_OVERSIGHT_028519.txt,"Helen Lewis
Helen Lewis is associate editor of the New Statesman, and has
written on technology for the Sunday Times, Wired and the

Guardian. Her first book, Difficult Women, is out next year.

HOUSE_OVERSIGHT_028519
"
IMAGES-010-HOUSE_OVERSIGHT_030356.txt,"Over crests and furrowed field
Wirey talons arching back
Empty roosts the plagued aspise
Revel in their bloodied eyes

We fight on.

From: Jes Staley
Date: Wed, 10 May 2017 at 22:58
Subject: RE: The fool doth think he is wise

To: <john.mcfarlane.barclays@gmail.com>
Thanks for sharing the foxhole.

Best

Jes

Landon Thomas, Jr.
Financial Reporter
New York Times

http://topics.nytimes.com/top/ reference/timestopics/people/t /landon_jr_thomas/index.html

please note

The information contained in this communication 1s
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030356
"
TEXT-002-HOUSE_OVERSIGHT_033466.txt,"From: jeffrey epstein [jeevacation@gmail.com] 
Sent: 1/12/2012 3:22:33 PM 
To: 
Subject: Re: B 727 thought 
Importance: High 
Call 
Sorry for all the typos .Sent from my iPhone 
On Jan 12, 2012, at 4:12 PM, 
wrote: 
Jeffrey, 
this may be a long shot to save the Boeing deal, or if you think its a dead deal, disregard this. 
I thought there was a connection between Tarek and myself, I do believe one concern was operation of Boeing with 
flight crew. I know its his problem not ours, but may help make the sale happen,. 
I wrote this email for your review, if you think its worth sending, please critique, and let me know,. thank you: 
Mr. Tarek El Sayed, 
I hope this email finds you well, and believe worth communicating my thoughts to you. 
I was surprised to hear that you decided against the purchase of our Super Boeing 727. I personally thought it was a great match for 
your business needs in Qatar. If for any reason your decision was based on crew issues and charter needs in the Middle East, I'd like 
to share some information that might prove beneficial to making you reconsider this purchase. 
The pilot candidates I have lined up for your interview along with the possibility of David Rodgers joining your flight department 
were as follows: 
(at no time did I disclose location or persons to the following pilot candidates to protect your privacy.) 
Robert Breslin, who is the former Chief Pilot of Mr. Donald Trump, Mr. Breslin flew the Boeing 727 and Boeing 757 owned by Mr 
Trump. Mr Breslin is a fine man of 40 years of age estimate, with extensive VIP Boeing operations. 
James Bartakowski, who has extensive flying experience in the Middle east, Africa and Europe regime. Mr. Bartakowski has also 
been involved in charter operations in Africa and Middle East and has contacted me on several recent occasions with charters for 
our Boeing 727, James has indicated there is the possibility of 40 — 60 hours per month charter operations for larger transport 
category aircraft in your area. I believe there is a growing need for charter in the business community in Qatar and neighboring 
countries. 
Bruce Jafahri, who is a current Boeing 727 captain who lived in Doha for two years, and familiar with international operations of 
Boeing 727 aircraft. Mr. Jafahri currently lives in California and ready for a new opportunity. Bruce is current in the Boeing 727 and 
also flew Captain on the Boeing 747. Well qualified individual and personable. 
Mr. El Sayed, as you have seen during our demo flight, our Boeing 727 is in impeccable condition, quite cabin and will provide many 
years of charter and business flights your company. I believe the large business jet future in Qatar is growing and you will be leading 
its path, and your initial investment in this purchase will not come close with other aircraft options on the market as you may have 
seen already. 
We are currently completing the C2C check on the Boeing, and as we have done in the past, assure you it will be a fine aircraft 
when it leaves Flight Star Maintenance repair facility. 
Sincerely, 
Lawrance Visoski 
HOUSE OVERSIGHT 033466 
Chief Pilot, JEGE Inc. 
HOUSE OVERSIGHT 033467 
"
IMAGES-009-HOUSE_OVERSIGHT_027901.txt,"so, would suddenly give way to a windswept series of dunes and wadis. The
map and compass helped. But I soon realized that it was almost impossible to
get an accurate reading from inside the truck. Every few minutes, I waved the
convoy to stop, got out, and walked fifty or sixty yards into the sand and clumps
of acacia trees and calibrated our progress from there. My fallback was the
stars. From them, I could at least make sure we were headed in broadly the right
direction. But the need to navigate around the dunes meant we were never
moving in a perfectly straight line. The miles ticking by on the truck’s odometer
couldn’t tell me exactly how far we’d travelled. A couple of times, I realized we
were wandering off line — not by a much, but enough to risk leaving us either a
mile or two south of where we were supposed to go or, worse, on the Egyptian
side of an unmarked desert frontier that, especially at night, would look pretty
much the same on either side.

Finally, a few hours before dawn, I brought the convoy to a halt. I climbed
out, walked back to the staff sergeant and told him, with more confidence than I
felt: “We’re here.” I had no way of knowing for sure. But I felt we were
generally in the right place. Before we’d set off, I was briefed by the officer in
charge of one of the operational APC battalions. He had been to the area before,
on training exercises. Because of the emergency call-up, he was too senior to
lead a supply convoy. But he told me that once we got there, we should stop and
wait. He would follow our tracks the next morning and link up with us. An hour
after sunrise, we saw his jeep bobbing over the sand towards us. He pulled to a
stop, shook hands with the staff sergeant, and then he turned to me.
“Unbelievable,” he said. ““We’re where we need to be.”

Our role in the grand scheme of things, and certainly mine, was hardly
decisive. But the rest of the border mobilization also went to plan. That, along
with some frantic diplomatic activity and a healthy common sense on all sides,
ensured that a new war with Egypt was averted — at least for a further half-
dozen years, until 1967. By then, the lesson of Rotem would be learned: our
need to find a realiable way to tap into the battle plans of the hostile Arab states
around us. And through another wholly unexpected turn of events starting just a
few weeks after the Rotem Crisis, I would turn out to play a personal role in
making that happen.

53
HOUSE_OVERSIGHT_027901
"
IMAGES-008-HOUSE_OVERSIGHT_025587.txt,"Morgan Stanley | RESEARCH

INDUSTRY COVERAGE: Brokers & Asset Managers

COMPANY (TICKER)

Michael J. Cyprys, CFA, CPA

Apollo Global Management LLC (APO.N)
Ares Management, L.P. (ARES.N)
BlackRock Inc. (BLK.N)

Charles Schwab Corp (SCHW.N)
E*Trade Financial Corp (ETFC.O)
Franklin Resources Inc. (BEN.N)
Hamilton Lane Incorporated (HLNE.O)
Invesco (IVZ.N)

KKR & CO. L.P. (KKR.N)

Legg Mason Inc. (LM.N)

LPL Financial Holdings Inc. (LPLA.O)
Oaktree Capital Group, LLC (OAK.N)

OM Asset Management Plc (OMAM.N)
T. Rowe Price Group, Inc. (TROW.O)

TD Ameritrade Holding Corp. (AMTD.O)
The Blackstone Group L.P. (BX.N)

The Carlyle Group L.P. (CG.O)

Virtus Investment Partners (VRTS.O)
Waddell & Reed Financial Inc (WDR.N)
WisdomTree Investments, Inc. (WETF.O)
Stock Ratings are subject to change. Please see latest
research for each company.

* Historical prices are not split adjusted.

RATING (AS OF)

0 (01/03/201
E (12/15/201
0 (09/18/201
0 (09/26/201
0 (01/03/201
U (03/16/201
E (10/05/201
E (01/03/201
E (02/17/201
U (10/05/201
E (01/03/201
O (12/15/201
E (01/26/201
E (10/05/201
E (09/26/201
0 (12/15/201
0 (02/17/201
E (06/01/201
U (09/18/201
E (09/18/201

8
4
5
6
8
7
7
8
6
7
8
4
6
7
6
4

wewrevevewvereaveewere rere Sr rere Se VP re rere SDS

7
5
5

NORTH AMERICA INSIGHT ~~

PRICE* (01/29/2018)

$35.60
$24.50
$574.42
$54.05
$52.62
$45.12
$38.31
$37.48
$24.25
$44.27
$60.11
$45.30
$18.19
$117.55
$55.59
$36.56
$25.50
$129.80
$23.18
$12.13

HOUSE_OVERSIGHT_025587
"
IMAGES-001-HOUSE_OVERSIGHT_012247.txt,"10

14

12

13

14

16

V7

13

19

20

21

MP:

MP:

CE
0 a

MP:

MP:

MP:

| wasn't, at first I didn't want to sit on his hairy you know, bult. So it was Kind of
like, you know, like, pushing my legs on the table so like | could kind of sit up and
he was like could you please just put all...like sit on me, pul all your body weight
onme. And then | went, | was just kind of like kind of think | did when | was
actually sitting on htm, | didn’t realize what it was and then like, | got grossed out
and as tm going down, kind of like popped up again. Cause it was gross.
Okay. He never tried to touch you?

Besides like, you know, well, what do you mean by touching, like sexually
touching me?

No, did fe try to touch you or...

He put his hand on my back when he was whacking off or masturbating. Like,
he was just like....

You keep, like motioning, like smacking.

No...

What do you....

Like, when you're leaning on something, putting your force on it? He was going
like that, fike...pulling, not, you know, like....

Can you show me what you mean?

Okay. He was.....

Let's say mon my back. Where would you be, I'm Jeff, where would you be
standing?

I'm right here. | was like, | was like sitting right here.

Okay.

Page 36 of 43

05153

HOUSE_OVERSIGHT_012247
"
IMAGES-006-HOUSE_OVERSIGHT_020795.txt,"HOUSE_OVERSIGHT_020795
"
IMAGES-008-HOUSE_OVERSIGHT_024841.txt,"COWEN
COLLABORATIVE INSIGHTS February 25, 2019

To further reinforce how CBD has been gaining interest over time, we analyzed the
historical number of hemp oil products offered by Amazon (AMZN, John Blackledge),
where we can see a continued increase in the number of products sold. Indeed, six years
ago, Amazon had been offering roughly 5,000 products, which has quadrupled to over

2

20,000 products today.
Figure 21 Over 20K Hemp Oil SKUs Offered by Amazon Today... Figure 22 ...Which Has Increased 4-Fold Over the Past 6 Years
# of Hemp Oil Products on Amazon # of ""Hemp Oil"" Products on Amazon

Date # of Products Date # of Products —
1/23/2013 4,975 11/8/2014 11,587 15,000
2/1/2013 5,039 2/7/2015 12,370 10,000
1/10/2014 8,507 3/2/2015 12,430
2/10/2014 9,642 3/20/2015 12,741 aadsg = = sess 835358888
8/10/2014 11,694 7/7/2015 13,963 Fi Fi 8 Fi 5 5 Fi 8 Fa z Fi Fi Fi Fi 8
10/12/2014 11,904 1/2/2019 > 20,000 a
Source: Amazon and Cowen and Company Source: Amazon and Cowen and Company

With reported CBD use skewing toward younger consumers, it is perhaps not surprising
to see that CBD also over-indexes to lower-income consumers (where younger
consumers generally have lower household incomes). What is more, CBD seems to be
the most popular among Caucasians, following by Hispanic / Latino consumers.
Meanwhile, CBD use is slightly more popular among women (7.0% incidence), vs. men
(6.7% incidence).

Figure 23 CBD Over-Indexes with Low- Figure 24 ...Young Consumers (Ages 18-34)... Figure 25 ...And Caucasians
Income...
% Using CBD As A Supplement % Using CBD As A Supplement % Using CBD As A Supplement
80% go, “4% 10.0% 9.4% 80% 69% °3% gay
a G,
7.0% 6% , 9.0% 56%
Q,
6.0% 5.6% 80% 6.0% Aa%
G,
5.0% 1.0% 4.0%
40% 6.0%
3.0% 5.0% 2.0%
2.0% 40%
1.0% 0.0%
i 3.0% ° = c =] = =
0.0% 20% £ s ¢ 8s §
z x x x eF 68 8 ¢
e fan} S oS 10% y wn i]
e mn =| = 5 = 5
7 wn wy 0.0% oO =<
A —
a e 8 8 =
Source: Cowen Survey, N=~2500, January 2019 Source: Cowen Survey, N=~2500, January 2019 Source: Cowen Survey, N=~2500, January 2019
COWEN.COM 25

HOUSE_OVERSIGHT_024841
"
IMAGES-011-HOUSE_OVERSIGHT_031401.txt,"“T think it’s good that we’re going to get fresh eyes and a fresh opinion on the way the case was handled,’’ Edwards
said Tuesday. “We were obviously in an adversarial posture with the U.S. Attorney’s Office in Miami because they

handled the case to begin with.”’

Miami’s new U.S. Attorney, Ariana Fajardo Orshan — who was appointed by President Trump in September — did

not respond to a request for comment.

Play Video
DurationA

5:29
Jeffrey Epstein apologizes, but not to his victims

Jeffrey Epstein apologizes, but not to his victims
Emily Michot

Edwards predicted that it would take some time for Pak’s office to review the case, which includes more than 500
docket entries and thousands of documents. He said If the sides can’t agree on a resolution, then Marra would likely
have to come up with one. The case is being closely watched by crime victims’ rights advocates, as it will likely set

a precedent.

Acosta, who was appointed by Trump as the U.S. secretary of labor in 2017, is the focus of a separate Justice
Department investigation into whether there was any prosecutorial misconduct in the Epstein case. That probe, by
the DOJ’s Office of Professional Responsibility, was initiated in response to demands from a bipartisan group in
Congress, led by Republican Sen. Ben Sasse of Nebraska and Democratic Rep. Debbie Wasserman Schultz of
Florida.

In the meantime, a court hearing will be held at 4 p.m. Wednesday in New York in another Epstein-related case. A
federal appeals court will hear oral arguments in a motion by the Miami Herald, supported by 32 other news
organizations, asking the court to unseal documents that could reveal details about the extent of Epstein’s crimes and

any other people who may have been involved.

Three of Epstein’s former attorneys — who helped negotiate his plea deal in 2008 — wrote a letter published in the
New York Times on Monday, defending the plea bargain cut with Acosta as a fair deal. The letter was in response to
a Times editorial that called on Congress and the Trump administration to hold Acosta and others involved in the

case accountable.

Epstein’s lawyers said the editorial’s conclusions were “in profound conflict with the reality,’’ noting that there was
no evidence that Epstein committed federal sex trafficking offenses. The letter was signed by former Epstein lawyers

Kenneth Starr, Jack Goldberger and Lilly Ann Sanchez, as well as Epstein’s current attorney, Martin G. Weinberg.

Read more here: https://www.miamiherald.com/news/politics-government/article227136459.html#storylink=cpy

HOUSE_OVERSIGHT_031401
"
IMAGES-004-HOUSE_OVERSIGHT_017910.txt,"In re Terrorist Attacks on September 11, 2001, 392 F.Supp.2d 539 (2005)
10 A.L.R. Fed. 2d 789

[32]

[33]

[34]

involved in those attacks. 18 U.S.C.A. §
2339A(b).

Cases that cite this headnote

War and National Emergency
@ Private Remedies

Allegation that defendant funneled money to
terrorist organization responsible for September
11th attacks, through charities in which he was
involved, was sufficient to state a claim under
Antiterrorism Act (ATA), in action alleging
provision of support for those attacks. 18
ULS.C.A. § 2339(A).

Cases that cite this headnote

Racketeer Influenced and Corrupt
Organizations

Association with or participation in
enterprise; control or intent

Complaint which failed to allege that defendant
had any role in directing an enterprise thus
failed to state a claim under Racketeer
Influenced and Corrupt Organizations Act
(RICO), for purposes of action alleging
provision of support for terrorist organization
responsible for September 11th attacks. 18
US.C.A. § 1961 et seq.

Cases that cite this headnote

War and National Emergency
@ Private Remedies

Absent any allegation that purported charitable
organization knew that the money it was
transferring between two other organizations
would somehow assist terrorist organization
responsible for the September 11th attacks, or
that it knew that other organizations to which it
transferred money were in the business of
supporting terrorism, allegation that

WESTLAW

[35]

[36]

[37]

organization made such transfers failed to state a
claim under Antiterrorism Act (ATA), for
purposes of action alleging provision of support
for those attacks. 18 U.S.C.A. § 2339(A).

Cases that cite this headnote

War and National Emergency
Private Remedies

Allegations that defendant was a founder and
leader of terrorist organization responsible for
the September 11th attacks, that he had been
designated a terrorist by the U.S. government,
and that he was the head of various
non-government organizations providing
financial and logistical support to the terrorist
network, sufficiently stated a claim under
Antiterrorism Act (ATA), for purposes of action
alleging provision of support for terrorists
involved in those attacks. 18 U.S.C.A. §
2339(A).

Cases that cite this headnote

War and National Emergency
Private Remedies

Allegation that purported Islamic _ relief
organization collected and laundered money for
terrorist organization responsible for the
September 11th attacks, was involved in
numerous attacks and plots, and funded the
Taliban and terrorist training camps in
Afghanistan sufficiently stated a claim under
Antiterrorism Act (ATA), for purposes of action
alleging provision of support for terrorists
involved in those attacks. 18 U.S.C.A. §
2339(A).

Cases that cite this headnote

Federal Civil Procedure
Time of determination; reserving decision

HOUSE_OVERSIGHT_017910
"
IMAGES-008-HOUSE_OVERSIGHT_024699.txt,"GE Recreational Law

Alaska
California
Colorado
Maine
Massachusetts
Nevada
Oregon
Washington

No Recreational,
Medical Cannabis
or CBD/Limited Law

Idaho
Kansas
Nebraska
South Dakota

© 2017 Ackrell Capital, LLC

U.S. State Cannabis Laws (January 2018)

HE Medical Cannabis Law

Arizona
Arkansas
Connecticut
Delaware
Florida
Hawaii
Illinois
Maryland
Michigan
Minnesota
Montana
New Hampshire
New Jersey
New Mexico
New York
North Dakota
Ohio
Pennsylvania
Rhode Island
West Virginia
Vermont

© 2017 Ackrell Capital, LLC | Member FINRA/SIPC

CHAPTER IV U.S. Legal Landscape

IY) CBDILimited Law

Alabama
Georgia
Indiana

lowa
Kentucky
Louisiana
Mississippi
Missouri

North Carolina
Oklahoma
South Carolina
Tennessee
Texas

Utah

Virginia
Wisconsin
Wyoming

63

HOUSE_OVERSIGHT_024699
"
IMAGES-011-HOUSE_OVERSIGHT_031367.txt,"— ew
Ye

NOBEL CHARITABLE TRUST

Venue Overview (Tentative)

A~ —

a 1st Convention to be held at Tokyo Big Sight: Easy access, large capacity and good facilities

OO al
ett LET

wea
pmes= ras

Overview of Tokyo Big Sight (Tokyo International Exhibition Center)

=Facilities

East Exhibition Hall West Exhil
Location 3-11-1 Ariake Koto-ku Tokyo oe past Hall 3 West Hall 3
Total Site Area 243,419.46m2 = : Westtiall 7
Total Bldg Area 141,700.04m2 ~
Total Floor Area 230,873.07m2

(Outdoor Exhibition Area)

st Halla

Total Exhibition Area 80,660m2 eo a ee Pri>
Structure Steel frame, reinforced concrete construction — = : ~ a Scio BUR
Height Conference Tower: 8F and B1/ “a ~ .

West Exhibition Hall: 5F/ East Exhibition Hall: 3F and B1

[East Exhibition Hall]
Consists of six halls, three on each side of the Galleria. Each hall contains
recessed electronic and information control service pits every six meters,
equipped with large freight entrances to facilitate exhibition setup and removal.
Each hall is 90m x 90m and can be combined into one large exhibition area to
meet the needs of large exhibitions and events
[West Exhibition Hall 1 & 2]
2 Halls on 1F with Atrium in the middle. Adjacent to the Outdoor Exhibition area.
[West Exhibition Hall 3 & 4]
2 Exhibition halls around the top open space of the Atrium on 4F. Adjacent to
the Rooftop Exhibition area. Direct slopes to the 4F freight entrance.
[Reception Hall]
Fully equipped with a stage that can be raised, audio and lighting systems, and an
simultaneous interpretation system.
[International Conference Room]
Main facility in the Conference Tower. Seats 1000. Fully equipped with audio
and lighting systems and an simultaneous interpretation system of up to 8
languages. Used for international conventions, symposiums and other large
scale events.
[Other Conference Rooms]
The Conference Tower also has 22 other small to medium sized conference
rooms. Largest rooms 605-608 can accommodate up to 612 persons each.

HOUSE_OVERSIGHT_031367
"
IMAGES-003-HOUSE_OVERSIGHT_014979.txt,"Chart 15: Buying an XLF 1m ATM call financed by selling a QQQ 1m call is Last week, we highlighted that investors who want to rotate out
tel attractive way for investors to rotate out of Growth and into of Growth strategies into Value strategies should take
advantage of elevated tech vol by buying XLF 1m ATM calls
43 financed by selling QQQ 1m ATM calls. After last week’s FOMC
meeting, the case for such a trade grows even stronger as the
14 market thinks the Fed has become more hawkish, driving up
09 real rates and the USD. Amid this backdrop, one could see
, outperformance of Value names over Growth names, which tend
07 to have higher amounts of offshore revenues that would come
under pressure by a stronger dollar.
ae 2013 2014 2015 2016 2017 Additionally, the trade remains attractive at current levels as
pricing has only been better 1% of the time in 5 years. Today,
——+# of 1m XLF calls one 1m QQQ call buys 1.03 XLF calls could be bought for each QQQ call sold, whereas
——Current (99th %-ile) over the past 5 years, the average number of XLF calls that

could be purchased was only 0.80.
== Average

Source: BofA Merrill Lynch Global Research. Data from 9-Jun-12 to 16-Jun-17.

Table 2: Current S&P500 volatility and correlation measures relative to the prior two year of historical daily data

1-week change Over 2-year historical period
46Jun17 9Jun17 Change au Minimum 25% Median 75% © Maximum
1-month ATM implied volatility 16% 19% -0.3% 1.3% 11% 9.8% 11.7% 14.5% 31.8%
1-year ATM implied volatility 14.0% 14.0% 0.0% 17% 13.4% 15.3% 16.2% 17.3% 22.5%
1-week intraday realized volatility 18% 13% 0.5% 19.6% 5.2% 8.3% 10.6% 14.0% 53.7%
1-year minus 1-month term structure 6.5% 6.1% 04% 99.2% -12.0% 2.1% 44% 5.4% 10%
3-month 90 minus 110 skew 8.5% 8.3% 0.2% 16.1% 71% 9.4% 11.3% 11.8% 13.8%
1-year top 50 implied correlation 45 44 45.10 0.35 8.1% 42.03 49 37 54.22 57.14 65.55
3-month top 50 realized correlation 21.30 24.08 -218 16.8% 12.57 27.15 37.28 48.45 60.41
VIX 1-month ATMf implied vol 81.9% 80.0% 1.9% 39.9% 61.2% 18.2% 85.0% 95.2% 162.2%
VIX 1-month 110 minus 90 skew 27.1% 26.9% 0.2% 88.6% 9.3% 18.6% 21.5% 23.8% 30.3%
Source: BofA Merrill Lynch Global Research
deg oes Bankof America

8 Global Equity Volatility Insights | 20 June 2017 Merrill Lynch

HOUSE_OVERSIGHT_014979
"
TEXT-001-HOUSE_OVERSIGHT_013268.txt,"﻿18
November 2013 – January 2014
AUD15 BND10 RMB100 HKD80 INR500 IDR85,000
KRW10,000 KWD3 MYR20 NZD20 PESOS300 QAR40
SAR40 SGD8 TWD300 BAHT250 AED40 VND100,000
8 885007 530017
DASSAULT’S
NEW FALCON 5X
BOMBARDIER CHALLENGER 350
THE FIRST EVER GULFSTREAM
CUSTOM LIVERY DESIGN
WINGS FOR SCIENCE
NBAA 2013
WATCHES &
WONDERS 2013
ANYA HINDMARCH | SMYTHSON BESPOKE
STOCKINGER SAFES | LOUIS MOINET
AVIATION AT HOME | SAIGON SUITES
WINGS
PEGASUS DESIGN
by Melissa Pearce
INTERNATIONAL JET INTERIORS
by Jennifer Henricus
CABIN
COUTURE
A daring designer goes for the runway
48 jetGALA
Clients always want
their aircraft to be
modern and up-to-date,
while maintaining an
understated, luxurious
aesthetic
In a 50,000-square-foot hangar at Long Island’s MacArthur Airport, an aircraft interiors
project has its designer “fired on all cylinders”. Tasked to modify and refurbish a
Global 5000 for the sports entertainment giant, World Wrestling Entertainment (WWE,
formerly WWF), New York-based International Jet Interiors is putting a progressive spin
on cabin design. While the livery boasts WWE’s corporate colours, the interiors use
“hand-woven carpets, custom-made metal finishes including a spun black pearl finish,
custom-dyed leathers and bespoke seating from Italy”, says Eric Roth, the designer at
International Jet Interiors’ helm.
But the highlight is in the high-tech facilities: studio-grade equipment that enables on-thefly
editing of feeds from live sports entertainment shows, which are transmitted via on-board
satellite. Meanwhile, specially programmed iPad minis control the cabin functions. “It will be
the ultimate couture craft when completed in January 2014,” says Roth.
No stranger to special client requests, Roth says he loves the challenge — the more unusual
the request, the more he and his team seem to excel in delivering the solution. His clients
come from around the world with a varied wish-list, ranging from entertainment systems with
satellite TV and high-speed WiFi to 24-karat gold-plated fixtures throughout the craft. >>
The more unusual the request, the more Roth and
his team seem to excel in delivering the solution
JETGALA
49
WINGS
“Helping clients strategise is a key part of the
design process. I look at how long they have owned
the craft and at its depreciating asset value”
50 jetGALA
Details set Roth’s work
apart from other aircraft
interiors — from the
choice of lighting, carpet,
upholstery and cabinetry,
to gadget stowage and
dining accessories
>> Its refurbishment of Donald Trump’s Boeing 757,
for instance, included a 24-karat gold-plated bathroom
sink. Other projects have required reconfiguring the
seating layout to make kennel space for hunting dogs,
installing ultra-secure bassinets for newborn infants,
and wrapping a toilet seat in crocodile skin for a client
in India.
Roth says that as a designer and design director,
his main task is to develop an intimate understanding
of a client’s lifestyle and his use of the jet — the
percentage of time spent for business, pleasure,
corporate entertainment and family time. “Helping
clients strategise is a key part of the design process. I
look at how long they have owned the craft and at its
depreciating asset value, and work out if it’s worth it to
invest in the latest piece of technology or ultra comfort
accessory. Most of them will opt for the investment
because they want their aircraft to be up-to-date, even if
this does not up its asset value.”
At times, thorough strategising is needed even before
International Jet Interiors accepts a project. A US-based
film producer once wanted a ‘sky studio’ so that he
and his four-member team could edit films onboard
his Gulfstream. This required state-of-the-art editing
equipment, surround sound, and a 42-inch, flat-screen,
high-definition TV. “The client perceived the theatre >>
JETGALA
51
WINGS
52 jetGALA
>> aspect as the great challenge — yet it was balancing
the weight of the floor-plan change and equipment
furnishing that was the real challenge. The structural
and technical analysis consumed the better part of
three weeks before we could make the commitment to
produce this unique aircraft,” says Roth.
Despite many quirky refurbishing requests, Roth says
a fair percentage of his clients avoid using their aircraft
to make a statement: “They will come to me saying ‘Eric,
I want it to be luxuriously comfortable,
very functional but extremely understated’.” Nearly
75 per cent of the firm’s clients are US-based, but it is
now receiving more requests from private-jet owners in
Asia. The company has worked with clients in Shanghai,
Tokyo and Mumbai, and is in discussions with new
customers in Africa.
He hopes to one day produce a “green and
sustainable” solution for a client. That may sound like
an oxymoron, and it will take a designer used to pushing
the limits of convention to create such a ground-breaking
design. It looks like Roth is cut out for the job.
OPPOSITE
International Jet Interiors
achieves a sleek, streamlined
appeal by modifying an
aircraft’s window line
and periphery, and using
composite materials
exclusively
THIS PAGE
Hand-stitched leathers and
finely woven fabrics create
a luxurious, comfortable
ambiance
Gadgets can be configured
to control the lightings in the
cabin interior
“Clients come to me
saying ‘Eric, I want it to be
luxuriously comfortable,
very functional but
extremely understated’.”
JETGALA
53
"
IMAGES-010-HOUSE_OVERSIGHT_030430.txt,"From: John Brockman

Sent: 2/6/2017 8:34:19 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: sorry | missed your call

Importance: — High

JE,

--Last week was misery...On Tuesday, Katinka's' younger brother, Jonathan Matson, was planning on flying
in from Boston and having dinner with her. After several emails back and forth in the morning, he wrote
to say he was packed and ready to leave the house but he had been fighting a stomach bug, so he had
decided it was best to postpone and go to bed. He was fine at 6pm when his wife (a Mass General health
professional) came home. She brought him a coke, went downstairs to make dinner. Half an hour later she
went upstairs to check on him. He had died. we got the news at 9pm on a phone call from someone we hadn’t
talked to in 20 years"" “Jonathan Matson has died” was impossible to process. Katinka is still was
distraught and, just coming out of shock.

--And...this, from my older brother Philip C""Distinguished NASA Physcist"" awardee), who had prostate
surgery about 25 years, and got lucky be living in Raliegh-Durham, near Duke Medical Center which is
tops. They've kept him alive and it's finally caught up to him:

""IT have run out of standard treatments. Chemo is getting less effective with increasing side effects.
There is a new drug Keytruda it has been approved for some cancers but is still experimental for prostate
cancer.

https: //prostatecancernewstoday.com/pembrolizumab-immune-therapy-help-men-prostate-cancer/. I have been
approved to get Keytruda and will start on Thursday.""

--Finally, did I ever tell you about the Biosphere crowd? Absolutely nutty cult I represented in the
early 90s. (Although individually the people were sometimes fun). My friend Roy walford, the doctor
inside the Biosphere, eventually died because of a condition he developed while inside. I kept sending
writers down there to work with them and they would inevitably sneak away in the dead of night. I had to
sell their book three times, each time for a fractions of the previous advance which started in 7
figures. Turns out Bannon took over as CEO of the place in 1993 so we may have overlapped. See:

Steve Bannon Was Once Hired to Manage an Artificial world of People Living Under Glass (Before the Trump
Campaign) -

http://slate.me/2keSDUn

In the office this afternoon and after 10:30am tomorrow.

SE «00512

HOUSE_OVERSIGHT_030430
"
TEXT-002-HOUSE_OVERSIGHT_033300.txt,"From: Linda Stone 
Sent: 6/27/2016 2:03:17 AM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: Watching 
Importance: High 
chomsky's requiem for the American Dream. Fascinating. Brilliant guy. 
Separately, trump is not a force for a civil society. EVERY taxi/uber driver I've encountered is FOR him. 
really don't get it. 
How are you? 
xo 
co-authored with iPhone auto-correct 
HOUSE OVERSIGHT 033300 
"
IMAGES-002-HOUSE_OVERSIGHT_012799.txt,"(2006). Host-handling behavior: an innate component of foraging behavior in the parastaoid wasp
Ampulex compressa. Ethology, 112(7), 699-706; Wedman, S., Bradler, S., & Rust, J. (2007). The
first fossil leaf insect: 47 million years of specialized cryptic morphology and behavior.
Proceedings of the National Academy of Sciences, 104(2), 565-569; Harvey, J.A., Brezemer,
T.M., Gols, R., Nakamatsu, Y., & Tanaka, T. (2008). Comparing the physiological effects and
function of larval feeding in closely-related endoparasitoids (Braconidae: Microgastrinae).
Physiological Entomology, 33(3), 217-225; Polidori, C., Matteo, F., Pesarini, C., & Francesco, A.
(2007). Factors affecting spider prey selection by Sceliphron mud-dauber wasps (Hymenoptera:
Sphecidae) in northern Italy. Animal Biology, 57(1), 11-28.

* Fighting but not killing: Bradbury , J. & Vehrencamp, S. (1998) Principles of Animal Communication.
Sinauer Associates; Espmark, Y., Amundsen, T., & Rosenqvist,G. (2000). Animal Signals. Tapir
Academic Press; Hauser, M.D. (1996) The Evolution of Communication. MIT Press; Krebs, J., &
Dawkins, R. (1984). Animal signals: mind-reading and manipulation. In: Behavioural ecology,
pp. 380-402, Sinauer Press; Maynard Smith, J. & Harper, D. (2003) Animal signals. Oxford
University Press; Searcy, W.A. & Nowicki, S. (2010). The Evolution of Animal Communication.
Princeton University Press; Zahavi, A. & Zahavi, A. (1999). The Handicap Principle. Oxford
University Press.

* An elite group of killers: Beckerman, S., Erickson, P., Yost, J., Regalado, J., Jaramillo, L., Sparks, C.,
Iromenga, M.(2009). Life histories, blood revenge, and reproductive success among the Waorani
of Ecuador. Proceedings of the National Academy of Sciences, 106(20), 8134-8139; Durrant, R.
(2011). Collective violence: An evolutionary perspective. Aggression and Violent Behavior,
16(5), 428-436.; Durrant, R., & Ward, T. (2011). Evolutionary explanations in the social and
behavioral sciences: Introduction and overview. Aggression and Violent Behavior, 16(5), 361-
370. Elsevier Ltd.; Ferguson, R. B. (2006). Tribal, “Ethnic,” and Global. Jn: The Psychology of
Resolving Global Conflict: From war to peace, volume I, Nature vs Nurture (Ed. M. Fitzduff,
C.E. Stout; Lawrence Erlbaum Ass), 1-15; Ferguson, R. B. (2011). Tribal Warfare. In: The
Encyclopedia of War (ed. G. Martel, Blackwell Publ, Oxford, pp. 1-13; Heinze, J., & Weber, M.
(2010). Lethal sibling rivalry for nest inheritance among virgin ant queens. Journal of Ethology,
29(1), 197-201; Kelly, R. C. (2005). The evolution of lethal intergroup violence Proceedings of
the National Academy of Sciences of the United States of America, 102(43), 15294-15298;
Roscoe, P. (2007). Intelligence, Coalitional Killing, and the Antecedents of War. American
Anthropologist, 109(3), 485-495; Sussman, R.W. 1999. The myth of man the hunter, man the
killer and the evolution of human morality (evolutionary and religious perspectives on morality).
Zygon 34: 453-472 Tobena, A. (2011). Suicide Attack Martyrdoms: Temperament and Mindset
of Altruistic Warriors. In: Pathological Altruism (ed. B. Oakley), Oxford University Press, 1-20;
Watts, D. P., Muller, M., Amsler, S. J., Mbabazi, G., & Mitani, J. C. (2006). Lethal intergroup
aggression by chimpanzees in Kibale National Park, Uganda. American journal of primatology,
68(2), 161-180; Wrangham, R. (1999). Evolution of coalitionary killing. Yearbook of Physical
Anthropology 42: 1-30; Wrangham, R. W. (2011). Chimpanzee violence is a serious topic: A
response to Sussman and Marshak’s Critique of Demonic Males: Apes and the Origins of Human
Violence. (Vol. 1, pp. 29-50). Global Nonkilling Working Papers; Wrangham, R. W., &
Glowacki, L. (2011). Intergroup aggression in chimpanzees and war in nomadic hunter-gatherers:
evaluating the chimpanzee model Human Nature, pp. 1-53; Wrangham, R. W., & Wilson, M. L.
(2006). Collective Violence: Comparisons between Youths and Chimpanzees. Annals of the New
York Academy of Sciences, 1036(1), 233-256; Wrangham,, R. W., Wilson, M. L., & Muller, M.
N. (2005). Comparative rates of violence in chimpanzees and humans. Primates, 47(.), 14-26.

Hauser Chapter 1. Nature’s secrets 53

HOUSE_OVERSIGHT_012799
"
IMAGES-001-HOUSE_OVERSIGHT_011028.txt,"net output is gross realized output less depreciation plus proprietary output. Both
drop by the amount of Bill’s maintenance consumption on Phil’s books asa

slaveowner. So then does Bill’s present value of that cash flow.

This noir thought experiment is worth thinking through. It shows that even if
slavery were legal and common, its market evidence would neither show the value
of human capital nor refute the fact that human capital is inalienable. It is
inalienable for the reason, if none other, that our maintenance consumption satisfies
no one else’s tastes. Phil did not acquire Bill’s human capital. He converted it to

livestock worth much less.

Another useful point is that assets in general tend to be worth more to their owners.
This does not contradict the convergence axioms. We buy or build to taste. That
difference is particularly important as to assets not meant to be traded, such as
productive plant. I suspect that this is what the national accounts missed in

adjusting depreciation.

Maintenance Learning

Ben-Porath argued, persuasively | believe, that both kinds of investment in human
capital must end when not enough time remains for recovery with interest. Those
two are invested consumption, including schooling, and self-invested work. I
propose that invested consumption substantially ends at maturity and
independence. Self-invested work of learning continues long after, as there remains

no other adequate explanation of age-wage profiles. When does it stop?

Learning itself continues to the end. Yet if Ben-Porath is right, and he is, self-
invested learning stops well before. What continues, | think, is what I call
“maintenance learning”. It is defined as learning to keep up pay now rather than to
enhance pay later. At all ages, we must learn the names and traits of new clients and

co-workers and suppliers and regulations continually to do what we are paid for.

Chapter 5 Bringing Human Capital In 1/13/16 9

HOUSE_OVERSIGHT_011028
"
IMAGES-002-HOUSE_OVERSIGHT_013487.txt,"Jonathan Levin — Prof and Chair of Dept of Economics, Stanford. 2011 Winner of the John Bates Clark Medal.
Ann Lewis - President, NoLimits. Fmr Director of Communications to the U.S. President (1997-2000).
Rob LoCasio — CEO, LivePerson (NASDAQ: LSPN).

Jeremy Liew — GP, LightSpeed Venture Partners. Investor in: Bonobos, CarDomain, Flixster,
Focus, Kixeye, Kongregate, LivingSocial, Playdom, RockYou, ShoeDazzle, and others.

Joe Lonsdale — CEO, Adepar. cofounder, Palantir.
Doreen Lorenzo — President, Frog Design.

Bob Luskin -- Partner and Co-Chair of Litigation Dept, Patton Boggs. Attorney to Karl Rove and Lance Armstrong. Fmr Chief Counsel to the Organized
Crime & Racketeering Section of DOJ.

Jorn Lyseggen — CEO of Meltwater.

John Maeda - President, Rhode Island School of Design. Author, Laws of Simplicity.

Divesh Makan — CEO, Iconiq Capital.

Meyer Malka — co-CEO, Lemon.

Andy McAfee — Principal Research Scientist at the Center for Digital Business, MIT. Author of Race Against the Machine.

General Stan McChrystal — Ret. 4-star U.S. General. Led all U.S. forces in Afghanistan. Fmr Commander, Joint Special Operations
Command. Current Principal, McChrystal Group. Sr. Fellow, Yale’s Jackson Institute for Global Affairs.

Andrew McLaughlin — Fmr VP, Tumblr. Fmr Deputy CTO of the United States, White House. Fmr Dir of Public Policy, Google. Boards: Public
Knowledge, Code for America.

Dmitri Mehlhorn — COO, StudentsFirst.

Lenny Mendonca -- Director, McKinsey. Head of McKinsey’s strategy practice. Chm, McKinsey Global Institute. Chm, Bay Area Council. Board:
McKinsey & Co, Economic Institute of the Bay Area, Bay Area Science and Innovation Consortium, The New America Foundation, Common Cause,
Committee for Economic Development, ChildrenNow, and DonorsChoose.

Eugene Meyer — President, Federalist Society.

Chris Michel — GP, Nautilus Ventures. Award-winning photographer. Fmr CEO, Affinity Labs. Fmr CEO, Military.com. Boards: International Data
Group, Dale Carnegie, Kixeye, Castlight Health, USO, Marine Corps University Foundation.

Katie Mitic — Fmr Head of Platform Marketing, Facebook. Fmr SVP, Palm. Fmr VP Product Strategy, Yahoo! Fmr Fndr and CEO, Four11. Boards:
eBay, Special Olympics International.

Wes Moore -- Author, “The Other Wes Moore”. Fmr. Special Assistant to Secretary of State Rice. Fmr Director of Information Operations, 82nd Airborne
Division, US Army, Afghanistan 2005-2006.

Nader Mousavizadeh — CEO of Oxford Analytica.

Luke Muehlhauser — Exec Director, Singularity University.

Matt Mullenweg — Founder, Wordpress.

Roger Myerson -- Prof of Economics, U of Chicago. 2007 winner of Nobel Prize in Economics.
Scott Nathan - Partner, Baupost Group.

Meghan O'Sullivan -- Professor, Harvard Kennedy School of Govt. Fmr Deputy National Security Advisor for Iraq and Afghanistan, President George
W. Bush. Mbr, Trilateral Commission.

Chamath Palihapitiya — CEO, Social+Capital. fmr VP Growth, Mobile, and International at Facebook. Fmr GM of AIM at AOL. Boards: SecondMarket,
FixYa, Lemon, Integrated Plasmonics. Co-Owner, Golden State Warriors.

Eli Pariser — Fmr President, MoveOn. Cofndr, Avaaz.org. Boards: MoveOn, Avaaz, New Organizing Institute and Simon’s Rock College.

Mark Penn — Corp VP of Strategic Projects (reports to the CEO), Microsoft. Fmr CEO, Burson-Marsteller. President, of polling firm Penn, Schoen
and Berland Associates. Fmr Chief Strategist, Hillary Clinton for President 2008. Author, Microtrends. Fmr pollster to President Clinton. Fmr pollster to
Prime Minister Tony Blair.

Lois Quam — Executive Director, Global Health Initiative — part of the State Department and she reports directly to Secretary Clinton. Fmr CEO of Public
and Senior Markets, UnitedHealth Group ($30 billion division).

Dan Rosensweig — CEO, Chegg. Fmr CEO, Guitar Hero. Fmr COO, Yahoo.

Robert Rubin — Co-Chairman, Council on Foreign Relations. Fmr U.S. Secretary of the Treasury (1995-1999). Fmr Director, National Economic Council
(1993-1995). Chm, Local Initiatives Support Corporation (LISC). Fmr Co-Chairman, Goldman Sachs.

Sal Russo — Founder, Tea Party Express. Partner, Russo Marsh.

Tod Sacerdoti — CEO, BrightRoll. Board: ReTargeter.

Amy Salzhauer - CEO, Ignition.

Cami Samuels - General Partner, Versant Ventures. Boards: Achaogen, APT Pharmaceuticals, Kythera Biopharmaceuticals, Semprae Laboratories.

Ken Sawyer -- CEO, Saints Ventures (manages over $1 billion in capital). Selected to Forbes Midas List. Boards: Continuous Computing, HK
Systems, Cleargauge, Travel Intelligence, Envivio, Alliance Consulting, Acsis and Laureate Pharmaceuticals.

Jessica Schell — EVP BD and Strategic Planning, Universal Pictures. Fmr SVP Digital Strategy and Business Development, NBC Universal. Board: World
Wide Biggies.

HOUSE_OVERSIGHT_013487
"
IMAGES-010-HOUSE_OVERSIGHT_029161.txt,"MY, MY—SO NOW WE ARE IN THE BUSINESS OF TELLING THE WORLD HOW GOD
WOULD HAVE HANDLED THE WHOLE MATTER. I BARELY UNDERSTAND MY
LITTLE CORNER OF THE WORLD MUCH LESS THE MIND OF THE OMNISCIENT
CREATOR. WHO SAYS SHE OR HE IS BIASED TOWARD HUMANS? PERHAPS SHE
HAS AN AFFECTION FOR PLASMODIUM, AS IN HALDANE’S FAMOUS JOKETO WHEN
ASKED BY A CLERIC WHAT A LIFETIME STUDY OF EVOLUTION HAD TAUGHT
HALDANE ABOUT THE NATURE OF THE CREATOR—“AN INORDINATE FONDNESS
FOR BEETLES’”—AT THAT TIME, 1/3®” OF ALL ANIMAL SPECIES—300,000—WERE
BEETLES.

| enjoyed Brian Mannix’s comment, most especially “Pseven”. His argument for
cooperation is the same as that of Adam Smith in the Wealth of Nations. Once a
medium of exchange is introduced into a system of barter, itself a reciprocal
relationship, it can be vastly extended, with specialization such that one individual
no longer produces ten pencils/day, but ten people are specialized to produce a
single pencil—and thus a thousand/day. | too share an aversion to cultural/group
selection though perhaps for other reasons. But I side with Peter in feeling that
male self-domestication is more important in damping male psychopathy than
female choice—Richard Wrangham vs Sarah Hrdy among evolutionary
anthropologists.

Peter’s argument on reduction of inter-birth interval in humans again veers off into
culture-land when one does not need it—paternal investment, grandmother
investment and older sibling investment are all expected on genetic grounds. The
authority on the subject is David Haig at Harvard.

HOUSE_OVERSIGHT_029161
"
IMAGES-002-HOUSE_OVERSIGHT_012941.txt,"2.3 Further Characterizations of Humanlike Intelligence 25

psychologists. As part of the AGI Roadmap project, specific tasks were created corresponding
to each of the sub-areas in the above list; we will describe some of these tasks in Chapter 17.

2.3.2 Gardner’s Theory of Multiple Intelligences

The diverse list of human-level “competencies” given above is reminiscent of Gardner’s [Gar99|
multiple intelligences (MI) framework — a psychological approach to intelligence assessment
based on the idea that different people have mental strengths in different high-level domains,
so that intelligence tests should contain aspects that focus on each of these domains separately.
MI does not contradict the “complex goals in complex environments” view of intelligence, but
rather may be interpreted as making specific commitments regarding which complex tasks and
which complex environments are most important for roughly human-like intelligence.

MI does not seek an extreme generality, in the sense that it explicitly focuses on domains
in which humans have strong innate capability as well as general-intelligence capability; there
could easily be non-human intelligences that would exceed humans according to both the com-
monsense human notion of “general intelligence” and the generic “complex goals in complex
environments” or Hutter /Legg-style definitions, yet would not equal humans on the MI crite-
ria. This strong anthropocentrism of MI is not a problem from an AGI perspective so long as
one uses MI in an appropriate way, i.e. only for assessing the extent to which an AGI system
displays specifically human-like general intelligence. This restrictiveness is the price one pays
for having an easily articulable and relatively easily implementable evaluation framework.

Table ?? summarizes the types of intelligence included in Gardner’s MI theory.

Intelligence Type Aspects
Linguistic Words and language, written and spoken; retention, inter-

pretation and explanation of ideas and information via lan-
guage; understands relationship between communication
and meaning

Logical-Mathematical Logical thinking, detecting patterns, scientific reasoning
and deduction; analyse problems, perform mathematical
calculations, understands relationship between cause and
effect towards a tangible outcome

Musical Musical ability, awareness, appreciation and use of sound;
recognition of tonal and rhythmic patterns, understands
relationship between sound and feeling

Bodily-Kinesthetic Body movement control, manual dexterity, physical agility
and balance; eye and body coordination

Spatial-Visual Visual and spatial perception; interpretation and creation
of images; pictorial imagination and expression; under-
stands relationship between images and meanings, and be-
tween space and effect

Interpersonal Perception of other people’s feelings; relates to others; inter-
pretation of behaviour and communications; understands
relationships between people and their situations

Table 2.1: Types of Intelligence in Gardner’s Multiple Intelligence Theory

HOUSE_OVERSIGHT_012941
"
IMAGES-010-HOUSE_OVERSIGHT_030424.txt,"V.S. Naipaul in conversation with Geordie Greig
Tuesday 31st May 2011, 7pm
Royal Geographical Society

The Nobel Prize-winning Trinidadian author V. S. Naipaul has spent half a
century examining the legacy of colonialism on the Third World, unravelling
the guilt of the rulers and the self-serving myths of the ruled. His latest book,

The Masque of Africa: Glimpses of African Belief, is a travelogue in which

the author sets out to discover how far the old Africa's belief in magic has
been subverted by the outside world. Tickets are still available to see a giant
of Western letters.

PARTNER CONTENT

Recommended reading from The Periscope Post

Is royal wedding fever out of control — or is it just right? Did President
Obama cave in to the birther bullies — or was releasing his birth certificate
the best way to stamp out a vicious rumour? And did the Guantanamo
WikiLeaks files really tell us that Britain is a hotbed of Islamist extremism?
Find out who said what and why at The Periscope Post, the best and
quickest way on the Web to put the day’s headlines in perspective.

IQ? ONLINE THIS WEEK

The Artangel Longplayer Conversation 2011: James Lovelock and John
Gray

Watch and listen to full video and audio of the recent Artangel Longplayer
conversation between political philosopher John Gray and climate scientist
and ‘futurologist’ James Lovelock. Taking the philosophical implications of
long time as a starting point, they discuss immortality, suicide, the pursuit of
happiness and Darwinism.

New videos from 5x15 Stories

Including Fergal Keane on when the Japanese attempted to invade India
during World War IT and the outrageous blunders committed by General
Mutaguchi, ‘one of the great vainglorious fools of history’.

Plus, Libyan novelist Hisham Matar, on his father’s disappearance into
Gaddafi’s prisons and why as an artist he steers clear of political
engagement.

HOUSE_OVERSIGHT_030424
"
TEXT-002-HOUSE_OVERSIGHT_033314.txt,"From: Robert Trivers 
Sent: 6/28/2018 12:27:50 AM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Importance: High 
i think we have divergent views on Trump and trade for obvious reasons 
the best economists say all-out trade war will cost the WORLD 2-3% of its GDP 
this can hardly help the stock market 
but the ""perturbations"" are meat for you—if you can see what to buy and sell ahead of time—or very quickly—
in response to the latest tariffs you can beat the system 
TIA-CRF can not 
in good times, it does better than average—here it does distinctly worse—each hit is taken hard, each recovery 
is feeble—precisely because it does not change its portfolio or only slowly 
HOUSE OVERSIGHT 033314 
"
IMAGES-010-HOUSE_OVERSIGHT_029175.txt,"* Our team is working toward interviewing and hiring a top science-literate associate producer / dedicated
research producer. We’ve been coordinating with colleagues at HHMI (Howard Hughes Medical Association)
as well as National Geographic for staffing referrals, and now have a strong short list. This is a critical, long-
term position.

* We are assessing graphics and animation companies and researching styles and graphic ideas that we might
use to communicate some of the more complex ideas.

* Our digital team is researching a web extension for the www.closertotruth.com website, developing ideas for a
dedicated site neighborhood for ""Radical Breakthroughs."" We are in discussions with several website
design companies, including the company that designed and built our original CTT site, for ideas and bids on

creating the expanded site.

* By mid-October, we expect to begin to schedule the shoots.

HOUSE_OVERSIGHT_029175
"
IMAGES-005-HOUSE_OVERSIGHT_018918.txt,"FD-350 (Rev. 5-8-81)

(Indicate page, name of
newspaper, city and state.)
1B, 5B / The Palm Beach Post
West Palm Beach, FL

Date: 0726/2006

Mount Clipping in Space Below)

Title: After long probe,
billionaire faces
solicitation charges

Character

or
Classification: 31 E-MM-108062
Submitting Office: MM

| After long probe,
billionaire faces
solicitation charge

By LARRY KELLER
Palm Beach Post Staff Writer

Palm Beach billionaire Jeffrey Epstein
paid to have underage girls and young
women brought to his home, where he re-
ceived massages and sometimes sex, ac-
cording to an investigation p—a_
by the Palm Beach Police
Department.

Palm Beach police spent
months sifting through Ep-
stein’s trash and watching
his waterfront home and
Palm Beach International
Airport to keep tabs on his “
private jet. An indictment Epstein
charging Epstein, 53, was
unsealed Monday, charging him with one
count of felony solicitation of prostitution.

Palm Beach police thought there was
probable cause to charge Epstein with un-
lawful sex acts with a minor and lewd and
lascivious molestation.

Police Chief Michael Reiter was so angry

| with State Attorney Barry Krischer’s han-
dling of the case that he wrote a memo

See EPSTEIN, 5B >

3) E- NM - ]08062-@
HOUSE_OVERSIGHT_018918

"
IMAGES-002-HOUSE_OVERSIGHT_012955.txt,"3.2 Some Patternist Principles 39

— Example: Building towers has been useful in a certain context, but so has building
structures with a large number of triangles. Why not build a tower out of triangles?
Or maybe a vaguely tower-like structure that uses more triangles than a tower easily
could?

— Example: Building an elongated block structure resembling a table was successful in the
past, as was building a structure resembling a very flat version of a chair. Generalizing,
maybe building distorted versions of furniture is good. Or maybe it is building distorted
version of any previously perceived objects that is good. Or maybe both, to different
degrees...

Next, for a variety of reasons outlined in [Goe(6a] it becomes appealing to hypothesize that the
network of patterns in an intelligent system must give rise to the following large-scale emergent
structures

e Hierarchical network. Patterns are habitually in relations of control over other patterns that
represent more specialized aspects of themselves.

— Example: The pattern associated with “tall building” has some control over the pattern
associated with “tower”, as the former represents a more general concept ... and “tower”
has some control over “Eiffel tower”, etc.

e Heterarchical network. The system retains a memory of which patterns have previously
been associated with each other in any way.

— Example: “Tower” and “snake” are distant in the natural pattern hierarchy, but may be
associatively /heterarchically linked due to having a common elongated structure. This
heterarchical linkage may be used for many things, e.g. it might inspire the creative
construction of a tower with a snake’s head.

e Dual network. Hierarchical and heterarchical structures are combined, with the dynamics
of the two structures working together harmoniously. Among many possible ways to hier-
archically organize a set of patterns, the one used should be one that causes hierarchically
nearby patterns to have many meaningful heterarchical connections; and of course, there
should be a tendency to search for heterarchical connections among hierarchically nearby
patterns.

— Example: While the set of patterns hierarchically nearby “tower” and the set of patterns
heterarchically nearby “tower” will be quite different, they should still have more overlap
than random pattern-sets of similar sizes. So, if looking for something else heterarchically
near “tower”, using the hierarchical information about “tower” should be of some use,
and vice versa.

— In PLN, hierarchical relationships correspond to Atoms A and B so that InheritanceAB
and InheritanceB A have highly dissimilar strength; and heterarchical relationships cor-
respond to IntensionalSimilarity relationships. The dual network structure then arises
when intensional and extensional inheritance approximately correlate with each other,
so that inference about either kind of inheritance assists with figuring out about the
other kind.

e Self structure. A portion of the network of patterns forms into an approximate image of the
overall network of patterns.

HOUSE_OVERSIGHT_012955
"
IMAGES-011-HOUSE_OVERSIGHT_031373.txt,"== Forums/Symposiums &

NOBEL CHARITABLE TRUST Pa ? =

Identifying a vision for the future of environmental energies and products through forums with experts and researchers

Forums and Symposiums to Improve Our Environment

Forums

Discussions on environmental issues from various perspectives with cultural figures, scholars, and journalists in
the environmental field, and in-house developers.

Simultaneous interpretation will be available. Forums will be unique and richly international.

Outline of Forums/Symposiums
®A total of 5 sessions will be scheduled throughout the 3 day event

eVenue will be the international conference room and other
(last day will have one session)

conference rooms

Each session will have a different theme and environmental issues will be

discussed from various perspectives: global, environmental economics, [conference rooms 605 to 608] Wat
technological, governmental and biological. =760m

; 612 seats (theater style)
Sessions will be panel discussion. 3-5 panelists will discuss a theme.

m™Large screen available...

®To enhance understanding we will include time to take questions
from the audience.

Admission : reservations required/ admission fee required
Photos of speakers will be inserted as they are confirmed

rrr

14
HOUSE_OVERSIGHT_031373
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IMAGES-004-HOUSE_OVERSIGHT_018389.txt,"between points is also an act of drawing a line around those points. It is not simply
that we’re enmeshed in networks now; no, we're enclosed even entrapped by them.
If the great ambition of Cecil Rhodes’ era was for the expansive conquest of
territory, in our own it is for the construction and manipulation of gated spaces.
Gatelands.

In an age of network power, no position is more important, formidable, influential
or profitable than that of the gatekeeper. Defining who is in or out of any network is
among the most essential moves of design. In financial markets, on the Internet
backbone or inside the human immune system, the accept-or-reject decision
determines a great deal. The first sign of order breaking down, whether it is the
Roman Empire or your lungs, is an inability to manage what slips in and out. Flows
of bits, of migrants, of gold and patents and medicines -— all of these life-giving forces
can be controlled, bent for good or stopped for ill, as they pass through or collide
with gates. By gates I mean not only in-out passages but all of the tools that meter
and enclose the various Gatelands: Protocols, languages, block-chains. Whatever
binds and shapes an information topology. Any sort of code or encryption or binary
instruction that can unlock an in and out. If you want to make a fortune or a
revolution (or both), if you hope to shatter some barrier of tools or ideas between
you and a dream, or to lead a religious revival, spread an infection of hate or
revolution or insidious Morris-style computer code — then fundamentally this is
what you have to consider: Where are the gates? How to smash them? How to build
your own? We are entering, as a result of our dependence on networks of all sorts, a
landscape where the very clustering of power creates new border regions, bridges
and gates. If older, hierarchical systems craved a top - a king, a superpower, a Pope
- our connected, meshlike age demands valves and protocols and gates. It hungers
for connection, which means it hungers too for throttles and accelerators and
brakes. And of course people to run them. To speed them up. Slow them. Finger off
switches. This reordering of power will produce, is producing, a fight over
topological spaces for finance, biology, trade or pretty much any source of power.
The scramble is as urgent, decisive and essential as the one Rhodes and his peers
embarked upon. Inside or out? A fresh Meliananxiety haunts us: Are you the
gatekeeper? Or the gatekept?

We wander into Gateland the moment we switch our phones on. We enter it when
we book an airline ticket, when our genetics folds into a pool of data, or when we
take a new degree, master a computer language, or check on friends via one stateful
connected platform or another. We enter it, in short, when we connect. Gatekeepers
choose what we see. They determine the rules we follow, what we can and can’t
change. They reward us too - once we're inside — with benefits of speed, knowledge
and safety. Gatekeepers, which can be people or protocols or code, decide who can
join closed communities and who is left out and why. They pass us the fine benefit of
the compression of time, even as they expose us to the zipper of instant potential
disaster hitting everyone in a closed space at once. Gatekeepers control, for instance,
how (and how fast) financial data moves between members of light-speed “in the
know” trading pools, and the suckers outside. What you can see in your phone or
your university computer, why, how - all of these choices have to be made by

157

HOUSE_OVERSIGHT_018389
"
IMAGES-009-HOUSE_OVERSIGHT_027915.txt,"again. The more I talked, however, the more I sensed that the details weren’t
what General Tzur really wanted to know. I think what he actually wanted to
gauge was whether / felt confident. He wanted to reassure himself he wasn’t
taking any more than the obvious risks in sending us, in Uri Ilan’s footsteps,
back into Syria. Fortunately, he didn’t ask whether I was sure we’d succeed. If
he had, I would have said, yes, we were prepared. But there was no way we
could be certain. Still, he must have got what he wanted. When we reached the
edge of Netanya, he shook my hand, wished me luck and went on his way.

The rest of the team was waiting at the crossroads for me to join them. Two
teams, in fact: mine, with whom Id be crossing into Syria in less than 10 hours’
time, and our hillutz, or back-up. A hillutz was always a part of sayeret
operations. The back-up group would stay on the Israeli side of the border. If we
got into trouble, they’d come in after us.

Even after my briefing for the chief of staff, we had one last stop to make on
the way north. It was at the headquarters of the army’s northern command. It
was in a Tegart fortress, one of dozens built by the British around the country,
with watchtowers on each corner of the outer walls. The northern commander
was an equally forbidding figure. Avraham Yoffe had served in the British
artillery in the Second World War and the Golani Brigade in 1948. He used to
joke with other officers that while they looked like a bunch of kids, he was the
only one with the true bearing of a general.

He must have been busy when we arrived, because we ended up hanging
around in the courtyard for nearly 20 minutes. Just as I was beginning to worry
that the timetable for what really mattered — our climb up onto the Golan — was
being put at risk, I noticed that off to the side was a beautifully polished jeep. I
assumed it belonged to General Yoffe, who was known to be an avid hunter and
would later become the head of Israel’s National Parks Authority. It had a
padlocked metal grill on the back which held two jerrycans of gasoline. Yori
Cohen, the commander of the back-up team, and I spotted the fuel containers at
the same time. We couldn’t help smiling. Yes, we were about to embark on an
operation which, assuming we didn’t fail, would finally give Israel real-time
intelligence from across our border for the first time since the 1950s. But we
were still Sayeret Matkal, still chronically short of gasoline for our field
exercises. And I still hadn’t forgotten how to pick a lock. As Yori stood guard, I
broke into the grill and removed the jerrycans, one for each of us, and closed it
again. Then, after briefing the general, we headed to our setting-off point. Yoffe
himself left to join Avraham Arnan and Meir Amit’s intelligence deputy,

67
HOUSE_OVERSIGHT_027915
"
IMAGES-008-HOUSE_OVERSIGHT_025593.txt,"Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_025593
"
IMAGES-001-HOUSE_OVERSIGHT_012253.txt,"10

41

MP:

MP:

MP:

MP:

MP:

MP:

MP:

MP:

boyfrienc’s house.

Okay.

And, when | was in that guy's room, there was a like, where the drawers of lotion
were, ihere’s like a shelf of pictures and he had so many pictures of girls about
16, 17, around that age, 17 or 18. And they were like on the walls and most
of....alt the girls were topless or just plain naked. And they were in positions or
they were just standing up.

Okay.

Looking at pictures.

Okay. Well, | have to ask you. Do you know the difference between....and
you're a grown woman, so I'm asking you. You're pretty mature for your age.
Okay? Do you know the difference between right and wrong?

Yes.

Do you know the difference between the truth and a lie?

yes.

Can you tell me what a lie would be?

Um, not saying the truth.

Okay. So if | tell you you are wearing a biue sweater right now.....

| could tell you you're lying.

Why?

Because I’m wearing a pink one.

You gotit. ts everything you've to'd me the truth?

Yes.

Page 42 cf 43

05159

HOUSE_OVERSIGHT_012253
"
IMAGES-008-HOUSE_OVERSIGHT_024855.txt,"COWEN
COLLABORATIVE INSIGHTS February 25, 2019

Bottled Water

2

Consumer interest in CBD continues to gain momentum. For beverages, in particular
water, this is evidenced by analyzing current Google Trends, where interest rose
considerably over the course of 2018 and looks to still be achieving new highs, which is
not surprising, given the recent passage of the U.S. Farm Bill.

Figure 59 Bottled Water Should Be The Most Popular CBD Beverage Figure 60 Increasing Interest Reflected In Google Search Trends
4100 U.S. Google Trends (CBD Water)
2020 Market Share Scenario Analysis 80
60
Market Share 0.6% 11% 16% 2.6% 3.1% 3.6% 40
20
i 0
Absolute Sales ($ inmm) |$159 $301 $443 I S727 $869 $1,011 4¢n ou tnoudtnod
fan} fa) o al fan} Oo oO al fa) o Oo al Oo
eo © 0 oO KR KR KR KR DO DO HO ODO A
od od di od ud od od od od od od ud od
oO Oo oO oO oO oO oO oO Oo oO oO oO oO
N N N N N N N N N N N N N
Source: Cowen and Company Source: Google Trends and Cowen and Company

Over the next 2 years we believe that the U.S. CBD water category can generate close to
$600 mm in revenues. In Nielsen, U.S. bottled water generated just over $13 bn in 2018.
Assuming Nielsen channels account for 50% coverage of the category implies total
revenues of over $26 bn. Applying the 4.2% CAGR the category has grown over the last
3 years and extrapolating out results in total revenue surpassing $28 bn by 2020. Our
estimates are premised on CBD water achieving a ~1.5% market share in 2019 anda
conservative ~2% market share of the U.S. bottled water category in 2020. We would
note that a ~2% share of the bottled water category compares to a ~3% share for
coconut water. With the amount of consumer interest and potential functional benefits
that come along with CBD, we believe that a modest 2% share of the category is
reasonable, in particular if multiple larger players within the beverage space enter the
category and drive distribution. Above, we provide a scenario analysis on the revenue
opportunity assuming different market share levels.

Figure 61 A 2% Share Implies Over $500 MM In Revenues Figure 62 Bottled Water Category Growth Remains Healthy
U.S. CBD Water Sales (S in mm) U.S. Bottled Water Sales ($ in bn)
S700 1 s 930 wos 81 8 928
585 25
$600 I 695 $234 I
| I
$500
I §390 $20 ,
$400 I |
$15 I
$300 I
I 10 I
$200 $156 1 $ ,
2018 2019E 2020E 2015 2016 2017 2018 2019E 2020E
Source: Cowen and Company Source: The Nielsen Company and Cowen and Company
Note: Assumes 50% coverage in Nielsen
COWEN.COM 39

HOUSE_OVERSIGHT_024855
"
IMAGES-006-HOUSE_OVERSIGHT_020781.txt,"HOUSE_OVERSIGHT_020781
"
IMAGES-004-HOUSE_OVERSIGHT_017904.txt,"In re Terrorist Attacks on September 11, 2001, 392 F.Supp.2d 539 (2005)

10 A.L.R. Fed. 2d 789

an KeyCite Yellow Flag - Negative Treatment
Distinguished by Abecassis v. Wyatt, S.D.Tex., March 31, 2010

392 F.Supp.2d 539
United States District Court,
S.D. New York.

In re: TERRORIST ATTACKS ON SEPTEMBER
11, 2001

Nos. 03 MDL 1570(RCC), 02 Civ. 6977, 03 Civ.
6978, 03 Civ. 9849.
|

Sept. 21, 2005.

Synopsis

Background: Representatives, survivors, and insurance
carriers of victims of September 11, 2001 terrorist attacks
brought actions against terrorist organization responsible
for the attacks and its members and associates, alleged
state sponsors of terrorism, and individuals and entities
who allegedly provided support to the terrorist
organization, asserting causes of action under Torture
Victim Protection Act (TVPA), Antiterrorism Act (ATA),
Alien Tort Claims Act (ATCA), and Racketeer Influenced
and Corrupt Organizations Act (RICO), as well as claims
under New York law for aiding and abetting, conspiracy,
intentional infliction of emotional distress, negligence,
survival, wrongful death, trespass, and assault and battery.
Actions were consolidated, various defendants filed
motions to dismiss, and plaintiffs moved to supplement
the record.

Holdings: The District Court, Casey, J., held that:

“1 Saudi High Commission (SHC) was entitled to
immunity under discretionary function exception to
Foreign Sovereign Immunities Act (FSIA);

[1 chairman of SHC and Saudi Minister of Interior were
entitled to immunity under discretionary function
exception to FSIA;

Bl two Saudi officials did not have such minimum
contacts with the United States as to support a finding of

general personal jurisdiction;

(1 complaint alleging that various Islamic charities and
organizations provided support for September 11th

WESTLAW

attacks, failed to state a claim under TVPA;

(1 allegation that defendant provided a satellite phone
battery to terrorist leader sufficiently stated a claim under
ATA; and

(61 absent any allegation that defendant had any role in
directing an enterprise, allegation that he funneled money
to terrorist organization through the charities with which
he was involved failed to state a claim under RICO.

Motions granted in part and denied in part.

See also 349 F.Supp.2d 765.

West Headnotes (46)

[4] International Law
@ Evidence of immunity, and fact questions

Pursuant to the Foreign Sovereign Immunities
Act (FSIA), a _ foreign state and its
instrumentalities are presumed immune from
jurisdiction unless one of the _ statute’s
exceptions applies. 28 U.S.C.A. § 1602 et seq.

Cases that cite this headnote

2] International Law
Evidence of immunity, and fact questions

In a challenge to subject matter jurisdiction
under the Foreign Sovereign Immunities Act
(FSIA), the defendant must present a prima facie
case that it is a foreign sovereign; thereafter
plaintiff has burden of going forward with
evidence showing that, under the exceptions to
FSIA, immunity should not be granted. 28
U'S.C.A. § 1602 et seq.

2 Cases that cite this headnote

[3 Federal Civil Procedure

HOUSE_OVERSIGHT_017904
"
IMAGES-011-HOUSE_OVERSIGHT_031415.txt,"A Justice Dept. discipline office
with limited reach to probe
handling of controversial child sex
abuse case

Matt Zapotosky

The Justice Department office that handles employee discipline has
opened an investigation into whether attorneys committed
“professional misconduct” in allowing a well-connected millionaire to
spend just over a year in jail to resolve allegations that he molested
dozens of young girls.

The department revealed the investigation Wednesday in a letter from
Assistant Attorney General Stephen E. Boyd to Sen. Ben Sasse (R-
Neb.), who has questioned how the department handled its inquiry of
financier Jeffrey Epstein.

Epstein’s case had been the subject of an investigation by the Miami
Herald, which detailed how then-U.S. Attorney Alex Acosta, now

https://www.washingtonpost.com/world/national-security/a-justic...1718903bfc_story.html?noredirect=on&utm_term=.c9ebae38dfe7 2/6/19, 7:29 PM
Page 1 of 3

HOUSE_OVERSIGHT_031415
"
IMAGES-007-HOUSE_OVERSIGHT_023819.txt,"CHAPTER 6

(W/
. i

A Socratic Dialogue

Sit down before fact as a little child, be prepared to give up
every conceived notion, follow humbly wherever and whatever
abysses nature leads, or you will learn nothing.

—Thomas Huxley

Slave Boy: So it really doesn’t matter how you classify a teaching/
learning problem because there are many methods that could
apply, correct?

Socrates: And what follows from this?

Slave Boy: That it is not the classification that matters but the
methods entailed in that classification.

Socrates: And what do all these methods have in common?

Slave Boy: They all involve practice

Socrates: And what else?

Slave Boy: Real experience.

Socrates: And how is experience stored?

Slave Boy: Through cases.

Socrates: Expressed how?

Slave Boy: As stories

Socrates: So what follows from all this?

Slave Boy: That the methodology entailed in each classification of
learning types is not the real issue.

Socrates: And what is the real issue?

Slave Boy: Practice

Socrates: And?

Slave Boy: Dialogue

Socrates: Why dialogue?

Slave Boy: Because it is through dialogue that stories are solidified
and indexed

Socrates: So the classification of learning types doesn’t really matter
then, does it?

72

HOUSE_OVERSIGHT_023819
"
IMAGES-006-HOUSE_OVERSIGHT_020959.txt,"Matching Expenses & Revenue:

Imperatives & Constraints

There are many constraints to making changes

— ~90 million citizens (29% of Americans)’ have grown accustomed to entitlement
programs - 47MM on Medicaid, 45MM on Medicare, and 51MM on Social
Security, and many of them vote.

— Politicians depend on re-election campaigns, which can create conflicts,
especially given that only 12% of the population are willing to cut Social Security
and Medicare benefits, per Pew survey in 2/11.

— Low personal savings rates (near 6% of disposable income in CQ2:10), high
unemployment (near 10%) and economic uncertainty, which can limit ability to
make radical change.

- 14 million healthcare-related workers? have grown accustomed to relatively high
healthcare spending.

Note: 1) as of 2008, exciudes double counting of beneficiaries of multiple entitlement programs; 2) as of 2008, per BEA. Source:
K P Social Security Administration, Dept. of Health & Human Services, BEA.
(@)E) www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 235

And Then There’s the Constraint of

USA Inc.’s Weak Economy

[The] typical error most countries make coming out of a
financial crisis is they shift too quickly to premature restraint.
You saw that in the United States in the 30s, you saw that in
Japan in the 90s. It is very important for us to avoid that
mistake. If the government does nothing going forward, then
the impact of policy in Washington will shift from supporting
economic growth to hurting economic growth.

Timothy Geithner, Secretary of US Treasury
The Wall Street Journal, September 12, 2010

KP
www.kpcb.com USA Inc. | What Might a Turnaround Expert Consider? 236

HOUSE_OVERSIGHT_020959
"
IMAGES-010-HOUSE_OVERSIGHT_029613.txt,"On Sat, Mar 16, 2019 at 3:08 PM Larry Summers <> wrote:

We talked on phone. Then “I can’t talk later”. Dint think I can talk tomorrow”.
I said what are you up to. She said “I’m busy”. I said awfully coy u are.

And then I said. Did u really rearrange the weekend we were going to be together because guy number 3
was coming”

She said no his schedule changed after we changed our plans.

I said ok I got to go call me when u feel like it. Tone was not of good feeling.

I dint want to be in a gift giving competition while being the friend without benefits.
Think time to just stay away for a while. If there is potential here she II find way back.

I think I’m too eager weak at this point. The Prada thing by someone else is natural. By me seems
desperate.

Had good sense not to send off a note.

She must be very confused or maybe wants to cut me off but wants professional connection a lot and so
holds to it.

I think life as stand by in case she needs leverage against another guy sucks.

But I get when I think about it stay cool.

Sent from my iPhone

Please direct all scheduling inquiries to my office |

Follow me on twitter @lhsummers
www.larrysummers.com

On Mar 16, 2019, at 2:10 PM, J <jeevacation@gmail.com> wrote:

how was it communicated to you?

On Sat, Mar 16, 2019 at 1:59 PM Larry Summers ~~ 00—i—sOSOSOSOSCSCCS wrote:
guy 3 seems to be in London for weekend which is why my visit cut short.

I got mad. Didn’t send angry note after call though.

This is a ridiculous activity.

Sent from my iPhone

HOUSE_OVERSIGHT_029613
"
IMAGES-001-HOUSE_OVERSIGHT_011982.txt,"‘eader in the modeling. fashion. entertainment Public relotions. restaurant, and
tourism industries has made Mr. Brune! internationally renowned in nose fields.
Among his various accomplishments throughout his career are the successful
modeling agencies he has founded both in Europe and in the United States. For
example, in 1978. Mr. Brunel founded and grew Karin Models Paris from the
ground up to become oa lgad-market agency with a world-wide presence.
Capturing a sirong market share in Paris, Mr. Brunel successfully created Karin
Modeis as a platform for marquee cllents to obtain sophisticated public retations
services and important modeling contract opporiunities. Mr. Brunel's success
was 50 greai wilh Karin Paris that in the next ten years, he founded Next Model
Management in Los Angeles, California in 1980, Nexi Model Managemen in
Miami, Flotida in 1982, Mode! Management Group alse in Miami, Floricia in 1986,
and Rebecca Commercial Casting in New York City. in 1988. The loiter one was
opened as a talent and casting agency for performers. offering services such as
voice-overs, television, and cinema advertising work. again. successfully carving
oul a niche by which to make his mark and achieve bold commerciai
performance results,

Although Mr. Brunel later sold his rights to Next Management io Faith Kalas
in 1989, whe parinered with Joel Wilkenfeld a couple of years later: NEXT
represents some of the mosi prestigious women and men in the fashion world
today. Star faleni includes renowned fashion models Molly Sims, Doniela
Pesiova, Audrey Quock. Yamila Diaz, and Malgosia Bela. NEXT continues to
mainiain on infivential international force in Ihe foshion and modeling industry
ihrough its fully operational offices in New York. Los Angeles, Miami. Sao Paolo,
Montreal, London. and Paris. as well as iis affiliates in Milan ond Australia,

Because of sirong revenue growth and successful business perlormance.
as a resull of his arlislic vision as an artislic director and tateni coordinator. Mr.
Brunel founded ihe very successful Karin Models of America in New York Cily
and Karin Models USA in Mami Beach. Mr. Brunel's commercial ventures in
opening Karin agencies in Pars. New York, and Miami have been oxiremely
successful. generating combined annua! revenues of twenty five (25) million
dollars. Eveniually. Mr, Brunel kcensed the Karin nome to agencies in Israel,
Denmark. Germany, and Span, Mr. Brunel's extraordinary ialanis are not only
limiied to launching successful modeling businesses. but also in discovering and
launching the careers of some of ine world's most successful models. Mr. Brunel
has launched the extremely successful careers of supermodels such as Chrisly
Turtingion. Rachel Hunter, Sharon Stone, Monica Bellucci, Estella Warren, and
Chistina Semonnovskaya. These women all proceeded to become some of the
mos! phoiographed inlernational cover models in the word. appeoring on
thousands of magazine covers worldwide and spanning many years. ASO resu't
of his teputalion as 4 highly visible, sitategrc networker who cuilivales and
conducts business in a global environment and brokers lucrative deals, many

HOUSE_OVERSIGHT_011982
"
TEXT-001-HOUSE_OVERSIGHT_029692.txt,"From: 
Sent: 
To: 
Article 1. 
Jeffrey Epstein [jeeyacation@gmail.com] 
2/14/2013 8:47:12 PM 
Larry Summers 
Washington Post 
Obama to make first trip  
to Israel, part of a  
potential 'new  
beginning' with region  
Scott Wilson 
President Obama will travel to Israel and 
the occupied Palestinian territories next 
month to make an early second-term push 
for peace negotiations between two 
divided governments and to assess the 
broader political developments remaking 
the Middle East. 
It will be Obama's first trip as president 
to Israel, where suspicions run high in the 
aftermath of his unsuccessful early efforts 
at Middle East peacemaking. 
The choice of destination — one that 
Obama avoided in his first term — 
suggests a revival of his ambitions abroad 
after a year of virtual dormancy on 
foreign affairs. The timing also points to 
a willingness on his part to quickly 
reengage a politically volatile foreign-
Office of Terje Rod-Larsen 
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HOUSE OVERSIGHT 029692 
policy issue just months after winning his 
second term. 
But the visit will highlight how much the  
region has changed since he last visited 
the Middle East in his first year in office, 
with the rise of Islamist governments and 
the widening repercussions of civil 
revolt. 
After Obama helped topple Moammar  
Gaddafi in Libya in 2011, many in the 
region wondered when he would emerge 
again to help shape the course of the 
tumultuous Arab Spring, which has 
replaced a pair of U.S.-allied 
dictatorships with elected Islamist 
governments. 
Within the Israeli-Palestinian conflict, 
much has changed since the direct peace 
talks Obama inaugurated in September  
2010 collapsed within weeks. Israel's 
recent battle with the armed Hamas 
movement in the Gaza Strip left many  
predicting a wider fight in the future, as 
divisions deepened within the Palestinian 
and Israeli electorates over whether talks 
or war would resolve the conflict. 
""To make it a substantive trip that is 
more than a positive photo-op would 
require setting up a specific framework 
for an agreement and setting a tight 
deadline to achieve it,"" said Jeremy Ben-
Ami, the executive director of J Street, a 
nonprofit group that advocates the 
HOUSE OVERSIGHT 029693 
creation of a Palestinian state alongside 
Israel. 
White House officials would not provide 
a date for Obama's trip, which he will 
squeeze into the tight schedule he is 
building around a busy domestic agenda 
that includes immigration, guns and the 
economy. 
But Israeli media reported that Obama is 
scheduled to arrive March 20 as part of a 
trip that will include a stop in Jordan, 
where the civil war in next-door Syria 
and its growing refugee crisis is 
presenting a major challenge to King 
Abdullah II, a U.S. ally. 
Obama began his first term by making a 
strong push for peace talks between Israel 
and the Palestinians, believing the 
conflict fueled radicalism in the region in 
general and toward the United States in 
particular, given its historical support for 
the Jewish state. 
In contrast to predecessor George W. 
Bush, Obama wanted to demonstrate to 
Arab governments that the United States 
would make demands of Israel in pursuit 
of a regional peace agreement. 
Israeli Prime Minister Benjamin 
Netanyahu made little secret of his 
preference for Republican Mitt Romney  
in last year's U.S. presidential campaign. 
Netanyahu and Obama have at times 
disagreed bitterly over issues relating to 
HOUSE OVERSIGHT 029694 
the Palestinians, including Israel's 
continued settlement construction in the 
West Bank and East Jerusalem. 
Israel's military occupied those 
territories, along with Gaza, in the 1967 
Arab-Israeli war. Palestinians view them 
as the key territorial elements of their 
future state. 
In a June 2009 address in Cairo, a speech 
that asked for a ""new beginning"" with the 
Islamic world, Obama said: ""The United 
States does not accept the legitimacy of 
continued Israeli settlements."" He also 
did not stop in Israel on that trip, instead 
visiting Saudi Arabia, Egypt and 
Germany, where he emphasized the  
horror of the Holocaust and the moral 
imperative of defending Israel. Romney, 
among others, made the omission a 
campaign issue. 
But on regional security issues, Obama 
and Netanyahu have deepened 
cooperation amid rising U.S. military aid 
to Israel. Obama has agreed with 
Netanyahu that Iran must not be allowed 
to use its uranium-enrichment program to 
develop a nuclear weapon, an issue that 
the two will discuss during Obama's 
visit. 
Netanyahu's Likud party emerged from 
elections last month as the largest bloc in 
Israel's parliament, meaning that he will 
serve another term as prime minister. But 
HOUSE OVERSIGHT 029695 
a surprisingly strong showing by a new 
centrist party is likely to put more 
pressure on him to pursue talks. 
""It was a mistake for Obama not to go in 
the first term at a time when it could have 
affected Israeli public opinion of him, 
and now, it has hardened against him to a 
point that I don't believe it can,"" said 
Elliott Abrams, a senior fellow at the 
Council on Foreign Relations who served 
as a senior Middle East adviser to Bush. 
Obama's visit will coincide with growing 
concern in the region that the two-state 
solution favored by him is in peril, as 
Israeli settlement construction continues 
and as the Islamist Hamas gains clout 
within the once-secular Palestinian 
nationalist movement. Hamas emerged  
stronger politically from the recent clash 
with Israel and continues to reject the 
Jewish state's right to exist. 
Hamas and its secular rival Fatah are due 
to meet Saturday as part of a 
reconciliation process. If an agreement is 
reached and Hamas joins the Palestinian 
Authority, Obama will be faced with an 
awkward decision on whether to meet 
with a government that includes members 
of a U.S.-
designated terrorist movement. 
As he begins again in the region, Obama 
will be advised by new Secretary of State 
John F. Kerry. He has also named former 
HOUSE OVERSIGHT 029696 
senator Chuck Hagel as defense 
secretary, a nomination still in question 
after an unsteady performance by the 
candidate before the Senate Armed 
Services Committee last week that 
focused in part on his past criticism of 
Israel. 
""This trip is a signal that the president 
has an interest, not just in the peace issue, 
but also in the broader concerns that 
Israel is facing,"" said Dennis Ross, a 
senior Middle East adviser to Obama 
during his first term who is at the 
Washington Institute for Near East  
Policy. ""In some ways, it will be the 
president traveling to Israel to ask for a 
new beginning."" 
Article 2. 
Foreign Policy 
Saeb Erekat - The Peace  
Processor  
An interview by Aaron David Miller 
February 5, 2013 -- Other than Mahmoud 
Abbas, Saeb Erekat could be the most 
recognizable Palestinian on the planet. 
The chief Palestinian negotiator is 
certainly among the most passionate in 
promoting the cause. And nobody on the 
HOUSE OVERSIGHT 029697 
Palestinian side knows the substance of 
the issues or the negotiating history 
better. 
I first met Erekat in the late 1980s, while 
working on the Palestinian issue for then 
Secretary of State George Shultz. Back 
then, the U.S.-educated diplomat was 
already showing the brashness and 
outspokenness that would make him one 
of the most memorable -- if exasperating 
-- of the Palestinians with whom we 
dealt. 
He annoyed then Secretary of State 
James Baker by wearing his kaffiyeh 
around his shoulders at the opening of the 
Madrid Peace Conference in October 
1991. And over the years, he continued to 
annoy the Israelis too with his fiery 
performances on CNN -- though to this 
day, key Israeli negotiators, such as Isaac 
Molho, continue to praise his pragmatism 
at the bargaining table. 
It was Erekat's academic bent, analytical 
chops, and capacity to write in English 
that would make him so indispensable to 
the only Palestinian who really counted 
in those days -- Yasir Arafat. Erekat was 
a unique figure -- neither a fighter (no 
nom de guerre for him), nor a PLO 
insider, nor an organization man from 
Tunis. Rather, he was a West Banker 
from Jericho, and he succeeded in 
maintaining his relevance in a Palestinian 
HOUSE OVERSIGHT 029698 
political scene dominated not by fellow 
academics, but by hard men defined by 
struggle and intrigue. During the heady 
days of the peace process, he became a 
key point of contact for the Americans, 
the Israelis, the Arabs, and much of the 
rest of the international community. 
I came to know Erekat not only as a 
negotiator, but as a person. He sent his 
kids to Seeds of Peace, a conflict 
resolution and coexistence organization 
that I ran briefly after leaving the State 
Department, and my daughter befriended 
his and stayed with the Erekats in 
Jericho. Saeb and I have yelled at each 
other, defended our respective positions, 
laughed, and mourned opportunities that 
were never adequately explored. But 
through it all, what he said about himself 
was true: He wasn't as pro-Palestinian or 
pro-Israeli as much as he was pro-peace. 
That peace has proven elusive to this day. 
But with all our differences -- and there 
are many -- I believe Erekat believes in 
its possibility. Who else would list as an 
""objective"" on his resume: ""Solve the 
Palestinian-Israeli conflict based on a two 
state negotiated solution through 
diplomatic offices""? 
If, or perhaps when, another effort to 
negotiate a deal is made, one thing is 
clear -- Erekat will be in the middle of it. 
Last week, he agreed to answer my 
HOUSE OVERSIGHT 029699 
questions on the past and future of the 
Israeli-Palestinian problem. 
FP: What were your best and worst 
moments in the Israeli-Palestinian 
negotiations, and what was the greatest 
missed opportunity? 
Saeb Erekat: Though I was not the chief 
negotiator at that moment, the connection 
between [then Prime Minister Yitzhak] 
Rabin and President Arafat made 
everyone around them, including myself, 
feel that peace was possible. There was 
significant progress in all tracks until 
Rabin's assassination by an Israeli 
terrorist -- after he was killed, no Israeli 
leader had the vision to understand that 
the window of opportunity for a two-state 
solution would close as fast as they 
continued their colonization policies. 
The missed opportunity has definitely 
been Israel throwing away the Arab 
Peace Initiative, which offers 
normalization of relations of 57 countries 
with Israel in exchange for Israeli 
withdrawal to the 1967 border. They 
threw it away by bombing Gaza, by 
intensifying collective punishments, and 
by increasing settlement construction all 
over the occupied West Bank, 
particularly in and around Occupied East 
Jerusalem. 
HOUSE OVERSIGHT 029700 
FP: 2013 is the 20th anniversary of the 
Oslo negotiations. What was Oslo's 
greatest success, and its greatest failure? 
SE: The fact that, two decades after Oslo, 
we are still a nation under occupation 
shows that Israeli governments did derail 
it. The interim accords were not supposed 
to last for 20 years but only five. After 
that, we were going to enjoy freedom and 
sovereignty. 
But Israel increased its settlement 
expansion. In fact, within 20 years, the 
number of settlers almost tripled. The 
institution-building efforts led by the 
Palestinian government have been 
completely undermined by the lack of 
freedom. This situation cannot continue. 
Oslo succeeded in bringing back 250,000 
Palestinians from the diaspora and 
building the capacity for our state. The 
international community failed though, 
by granting Israel an unprecedented 
culture of impunity that allowed them to 
use negotiations as a means to continue 
rather than stop colonization. 
FP: What is the most important 
thing Israelis don't understand about 
Palestinians? 
SE: That we are not going anywhere. As 
simple as that. We are not going to 
disappear just because their government 
builds an annexation wall around us. 
HOUSE OVERSIGHT 029701 
They should close their eyes and imagine 
their state within 10 years time. What do 
they see? If they continue their policies, 
they are going to officially adopt the form 
of an apartheid regime, which I think is 
not what many Israelis want. 
FP: What is the most important thing 
Palestinians have learned about Israelis? 
SE: That Israelis will not take back the 
ships that brought them here to leave 
somewhere else. We got to understand 
that we have to live side by side. The 
rules of engagement, though, cannot be 
those of apartheid, but those of freedom. 
FP: What do you expect from the next 
Israeli government on the peace process? 
SE: I don't think there is room for 
optimism, but our position hasn't 
changed. We don't see any other solution 
than a two-state solution. Any Israeli 
government that recognizes this fact and 
respects what previous governments have 
agreed upon should become a partner for 
peace. 
FP: Is Hamas-Fatah unity possible, and 
what would the impact be on the future of 
Israeli-Palestinian negotiations? 
SE: We expect to have progress in the 
near future, with Hamas allowing the 
Central Elections Commission to register 
new voters in Gaza. I believe there is 
political agreement -- in fact, there is a 
signed agreement. We expect to have 
HOUSE OVERSIGHT 029702 
elections as soon as possible, which is the 
right way to solve our differences: Let 
our people decide, those in Palestine as 
well as our people in the Diaspora. 
Having said so, Hamas has recognized 
the Palestine Liberation Organization as 
the sole and legitimate representative of 
the Palestinian people, including its 
mandate to negotiate a final status 
agreement with Israel. Once that is 
achieved, we expect to hold a national 
referendum. 
FP: How would you describe Egypt's 
role in the peace process now? What do 
you expect from President Barack 
Obama's administration with regards to 
the peace process? 
SE: Egypt has played a central role, and 
continues to do so. We trust that Egypt, 
under President Mohamed Morsy's 
leadership, will continue to play a strong 
role because Palestine and Egypt have a 
common interest in achieving peace. 
President Obama had stated that he has a 
personal commitment to bring peace to 
the Middle East. We, the Egyptians, and 
the rest of the Arab world tell him that we 
are ready for peace. We have the Arab 
Peace Initiative. This goes in line with 
the stated U.S. national interest. 
Washington's failure to explicitly say that 
Israel is to blame for choosing 
HOUSE OVERSIGHT 029703 
settlements over peace has contributed to 
Israel's culture of impunity. 
FP: Can America be an effective broker 
in negotiations? 
SE: If the U.S. decides to be an honest 
broker, it could not only be effective but 
in fact could bring real peace to the 
region, a just and lasting one. The U.S. 
has a moral obligation toward the 
Palestinian people, who have been under 
occupation and living in exile for 
decades. 
FP: Is a two state solution still possible? 
SE: Yes, but only if there is a political 
will. So far, Israel's will is about 
colonization, and the international 
community has failed to put an end to 
decades of double standards by treating 
Israel as a state above the law. We don't 
see any other solution than a two-state 
solution, though Israel is taking us to a 
one-state reality. 
Aaron David Miller is a distinguished 
scholar at the Woodrow Wilson 
International Center for Scholars. 
Article 3. 
The Daily Beast 
The Mixed Legacy Of 
Shimon Peres  
HOUSE OVERSIGHT 029704 
Daniel Gavron 
Feb 4, 2013 -- Now that he has finished 
his consultations with the country's 
political parties and charged Benjamin 
Netanyahu with forming a new coalition, 
Israel's respected President, Shimon 
Peres, is once again very much in the 
news. In his speech inviting Netanyahu to 
form the next government, the President 
spoke forcefully about peace and even 
seemed to influence Bibi to mention 
peace, a word he never used in his 
election campaign. Peres has rightly 
earned respect for this from many 
quarters, but now, as the coalition is 
being formed, it might be a good time to 
examine one aspect of Israel's political 
culture: the lack of respect for the task of 
a parliamentary opposition. Peres is at 
least partly to blame for this, as he almost 
always preferred to join various 
administrations—even as a junior 
partner—rather than lead the opposition, 
ofen citing ""our grave situation"" and 
""national responsibility."" Now is surely 
a better time to criticize Peres than in 
June, when the world (maybe even 
including President Barack Obama) will 
be coming here to celebrate his 90th 
birthday. Then, surely, everyone will be 
paying deserved tribute to the wisdom of 
this elder statesman and prophet of peace, 
and it would be a shame to spoil the 
HOUSE OVERSIGHT 029705 
party. So let's clear the air right now, 
well before the festivities. Before we get 
to the matter of coalition politics, which 
is very much on our minds right now as 
Netanyahu struggles to put together a 
government, let us consider the other 
negative part of the Peres legacy: his stint 
as Defense Minister under Prime Minister 
Yitzhak Rabin from 1974 to 1977. Today 
Peres is widely respected as the architect 
of the Oslo Accord of 1993, achieved 
while he was Foreign Minister. It was the 
first political move toward a settlement 
between Israel and the Palestinians, and 
Peres deserves huge credit for securing 
the agreement. However, two decades 
earlier, as Defense Minister, he supported 
the Jewish settlement project in the 
newly-conquered Palestinian territories, 
both overtly and covertly. Not for 
nothing did Rabin label Peres in his 
memoirs as ""an indefatigable intriguer."" 
In 1975, while Rabin was doing his 
utmost to prevent the settlement of Elon 
Moreh, near Nablus, Peres continuously 
sabotaged his efforts. After no less than 
eight settlement attempts, which were 
ruled illegal by Israel's Supreme Court, a 
""compromise"" was reached, and Elon 
Moreh was established five kilometers to 
the east of the original site. Moreover, 
during the furor over Elon Moreh, 
Defense Minister Peres quietly facilitated 
the creation of Ofra, near Ramallah. 
HOUSE OVERSIGHT 029706 
These two settlements, which have 
become flagships of the settlement 
movement, were the start of Jewish 
colonization in Samaria, the northern part 
of the West Bank. The previous year, as 
a young reporter, I interviewed Peres, 
after he and his political ally Moshe 
Dayan had refused ""on principle"" to join 
the government of Golda Meir. ""If a 
single child can learn that politics is not 
just intrigues,"" Peres told me, ""I will be 
satisfied that we have done our bit."" Just 
one week later, when he and Dayan had 
reversed their position for no discernable 
reason, and were seated snugly around 
the cabinet table, I asked Peres what he 
had to say to the ""single child."" His aides 
sniggered, but Peres didn't bat an eyelid: 
""Just what my mentor, David Ben-Gurion 
(Israel's first Prime Minister) told me: 
when the security of Israel is laid on one 
side of the scales, and everything else on 
the other side, security tips the 
balance."" Peres subsequently used that 
self-same argument to join every 
government that would have him. The 
late Menachem Begin lost nine elections 
before finally becoming Israel's Prime 
Minister in 1977. He served as a 
pugnacious and dedicated leader of the 
opposition. Peres almost never headed 
the opposition, always preferring a 
ministerial appointment, once even 
designing a grotesque system of 
HOUSE OVERSIGHT 029707 
""rotation"" with Yitzhak Shamir, so that 
he could be in the government. He 
proposed the ideal of ""national unity,"" 
and greatly devalued the democratic 
concept of parliamentary opposition. 
Former Foreign Minister Tzipi Livni 
ruined her reputation when she refused to 
join Netanyahu in his last government. 
While it is quite true that Livni was an 
ineffective opposition leader, it is the 
very fact of her refusal to join the 
administration and ""influence it from 
within"" that has provoked most of the 
criticism by Israeli political 
commentators. Similar criticism is 
currently being leveled at Labor Party 
leader Shelly Yachimovich for stating 
clearly that she would not join 
Netanyahu's next government, but would 
serve as leader of the opposition. There 
are certainly many reasons to criticize 
Yachimovich, but not her eminently 
democratic decision to lead the 
parliamentary opposition. Very few of 
our political commentators have ever 
expressed respect or even understanding 
for the concept of opposition. The most 
popular political idea in Israel today is 
national unity—better still, a National 
Unity Government: ""We should all rally 
round the flag and support our 
government in these critical times."" This 
position, widely espoused, echoes what 
Peres has said repeatedly over the years. 
HOUSE OVERSIGHT 029708 
So, although the Peres vision of peace is 
a positive legacy, he has also taught us 
less helpful lessons. The settlements are a 
supremely negative inheritance, but I 
would argue that the anti-democratic 
rejection of the concept of a 
parliamentary opposition is an even more 
harmful bequest handed down to us by 
President Shimon Peres. 
Daniel Gavron, who lives in Israel, is a 
former journalist and the author of nine 
books, the most recent of which is Holy 
Land Mosaic, stories of cooperation and 
coexistence between Israelis and 
Palestinians (Rowman & Littlefield, 
2008). 
Article 4. 
NYT 
India vs. China vs. Egypt 
Thomas L. Friedman  
February 5, 2013 -- New Delhi -- It's 
hard to escape a visit to India without 
someone asking you to compare it to 
China. This visit was no exception, but I 
think it's more revealing to widen the 
aperture and compare India, China and 
Egypt. India has a weak central 
government but a really strong civil 
society, bubbling with elections and 
HOUSE OVERSIGHT 029709 
associations at every level. China has a 
muscular central government but a weak 
civil society, yet one that is clearly 
straining to express itself more. Egypt, 
alas, has a weak government and a very 
weak civil society, one that was 
suppressed for 50 years, denied real 
elections and, therefore, is easy prey to 
have its revolution diverted by the one 
group that could organize, the Muslim 
Brotherhood, in the one free space, the 
mosque. But there is one thing all three 
have in common: gigantic youth bulges 
under the age of 30, increasingly 
connected by technology but very 
unevenly educated. 
My view: Of these three, the one that will 
thrive the most in the 21st century will be 
the one that is most successful at 
converting its youth bulge into a 
""demographic dividend"" that keeps 
paying off every decade, as opposed to a 
""demographic bomb"" that keeps going 
off every decade. That will be the society 
that provides more of its youth with the 
education, jobs and voice they seek to 
realize their full potential. 
This race is about ""who can enable and 
inspire more of its youth to help build 
broad societal prosperity,"" argues Dov 
Seidman, the author of ""How"" and 
C.E.O. of LRN, which has an operating 
center in India. ""And that's all about 
leaders, parents and teachers creating 
HOUSE OVERSIGHT 029710 
environments where young people can be 
on a quest, not just for a job, but for a 
career — for a better life that doesn't just 
surpass but far surpasses their parents."" 
Countries that fail to do that will have a 
youth bulge that is not only unemployed, 
but unemployable, he argued. ""They will 
be disconnected in a connected world, 
despairing as they watch others build and 
realize their potential and curiosity."" 
If your country has either a strong 
government or a strong civil society, it 
has the ability to rise to this challenge. If 
it has neither, it will have real problems, 
which is why Egypt is struggling. China 
leads in providing its youth bulge with 
education, infrastructure and jobs, but 
lags in unleashing freedom and curiosity. 
India is the most intriguing case — if it 
can get its governance and corruption 
under control. The quest for upward 
mobility here, especially among women 
and girls, is palpable. I took part in the 
graduation ceremony for The Energy and 
Resources Institute last week. Of 12 
awards for the top students, 11 went to 
women. 
""India today has 560 million young 
people under the age of 25 and 225 
million between the ages of 10 and 19,"" 
explained Shashi Tharoor, India's 
minister of state for human resource 
development. ""So for the next 40 years 
we should have a youthful working-age 
HOUSE OVERSIGHT 029711 
population"" at a time when China and the 
broad industrialized world is aging. 
According to Tharoor, the average age in 
China today is around 38, whereas in 
India it's around 28. In 20 years, that gap 
will be much larger. So this could be a 
huge demographic dividend — ""provided 
that we can educate our youth — offering 
vocational training to some and 
university to others to equip them to take 
advantage of what the 21st-century global 
economy offers,"" said Tharoor. ""If we get 
it right, India becomes the workhorse of 
the world. If we get it wrong, there is 
nothing worse than unemployable, 
frustrated"" youth. 
Indeed, some of India's disaffected youth 
are turning to Maoism in rural areas. ""We 
have Maoists among our tribal 
populations, who have not benefited from 
the opportunities of modern India,"" 
Tharoor said. There have been violent 
Maoist incidents in 165 of India's 625 
districts in recent years, as Maoists tap 
into all those left out of the ""Indian 
dream."" So there is now a huge push here 
to lure poor kids into school. India runs 
the world's biggest midday lunch 
program, serving 250 million free school 
lunches each day. It's also doubled its 
number of Indian Institutes of 
Technology, from eight to 16, and is 
planning 14 new universities for 
innovation and research. 
HOUSE OVERSIGHT 029712 
But this will all be for naught without 
better governance, argues Gurcharan Das, 
the former C.E.O. of Procter & Gamble 
India, whose latest book is ""India Grows 
at Night: A Liberal Case for a Strong 
State."" ""The aspirational India has no one 
to vote for, because no one is talking the 
language of public goods. Why should it 
take us 15 years to get justice in the 
courts or 12 years to build a road? The 
gap between [youth] aspirations and 
government performance is huge. My 
thesis is that India has risen despite the 
state. It is a story of public failure and 
private success."" 
That is what Das means by India grows at 
night, when government sleeps. ""But 
India must learn to grow during the day,"" 
he said. ""If India fixes its governance 
before China fixes its politics that is who 
will win. ... You need a strong state and a 
strong society, so the society can hold the 
state accountable. India will only get a 
strong state when the best of society join 
the government, and China will only get 
a strong society when the best Mandarins 
go into the private sector."" 
Article 5. 
HOUSE OVERSIGHT 029713 
Foreign Policy 
Don't be too sure there  
won't be another U.S.  
war in the Middle East 
Richard L. Russell 
February 5, 2013 -- Shortly before he left 
office in Feb. 2011, Defense Secretary 
Robert Gates told West Point cadets that 
""in my opinion, any future defense 
secretary who advised the president to 
again send a big American land army into 
Asia or into the Middle East or Africa 
should 'have his head examined,' as 
General MacArthur so delicately put it."" 
The remark no doubt reflected Sec. 
Gates's fatigue and frustration from the 
enormous intellectual and emotional 
burdens associated with overseeing the 
wars in Iraq and Afghanistan. 
One suspects, however, that in a more 
reflective moment, Gates would have 
acknowledged that ""never say never"" is a 
wise rule of thumb in planning for 
military contingencies, especially in the 
region that makes up Central Command's 
area-of-responsibility. Few, for example, 
predicted the 1979 Soviet invasion of 
Afghanistan. Gates himself -- who was a 
senior CIA official during the covert war 
supporting the Afghan resistance -- surely 
did not anticipate then that the United 
HOUSE OVERSIGHT 029714 
States would have to return to 
Afghanistan two decades later to oust a 
Taliban regime that was harboring 
terrorists. Before 1990, moreover, no one 
predicted that Iraq, having just ended a 
bitter eight-year war with Iran, would 
swing its battered forces south to invade 
Kuwait. 
So if it's conventional wisdom that the 
United States will not, or should not, 
intervene militarily in the Middle East or 
South Asia after it draws down forces in 
Iraq and Afghanistan, it's also likely dead 
wrong. What is true, however, is that 
political and military trajectories in the 
Middle East and South Asia are likely to 
increasingly challenge U.S. contingency 
access in the coming decade. The ability 
for the United States to surge large-scale 
forces into the region, as it did in the 
1990 and 2003 wars against Iraq, will 
grow increasingly circumscribed. The 
United States will have to adapt to this 
new strategic landscape by developing 
more nimble, highly-mobile, stealthy, and 
networked forces, and by abandoning the 
traditional practice of slowly and steadily 
building up conventional forces at 
regional logistic hubs prior to launching 
war. 
* * * 
Perhaps the most significant factor that 
portends against further intervention in 
HOUSE OVERSIGHT 029715 
the Middle East and South Asia is 
increased political resistance -- and 
outright opposition -- from the countries 
in the region. That resistance is likely to 
come from the new regimes emerging 
from the Arab uprisings, as well as a 
number of Gulf monarchies. 
Indeed, the political trends in the region 
are unlikely to conform to the rosy 
predictions of democratic peace theorists, 
whose musings have implicitly informed 
the security policies of both Republican 
and Democratic administrations for 
decades. Old authoritarian regimes seem 
to be passing the way of the dodo bird, 
but the new regimes taking shape are 
heavily influenced by militant Islamic 
ideology that will make them less likely 
to engage in security or military 
cooperation with the United States. 
Democracy optimists argue that these 
ideological regimes, once entrenched in 
power, will have to moderate their zeal in 
order to govern. Pragmatism will 
ultimately trump ideology. That line of 
reasoning, however, is based on the 
assumption that the policy decisions of 
such regimes can be explained by rational 
choice economic theory. In other words, 
if they want to attract international capital 
and participate in the world economy, 
they are going to have to break with their 
ideological affinities. But that reasoning 
ignores a hard fact of international 
HOUSE OVERSIGHT 029716 
politics: that time and again, political and 
ideological prerogatives trump economic 
rationality. It made little economic sense, 
for example, for Pakistan to pursue a 
nuclear weapons program in the 1970s, 
just as it makes little economic sense for 
Iran to do so today. Clearly, both 
Pakistan and Iran made major policy 
decisions based on political-military 
priorities rather than economic 
calculations. 
As for the surviving monarchies in the 
Middle East, they too will likely be less 
accommodating to American military 
forces than they have been in the past. To 
be sure, much of the Arab support for 
past American military operations -- like 
both Iraq wars -- was hidden from the 
public eye. Arab states often loudly and 
publicly denounced ""unilateral 
American"" military action in the region at 
the same time as they supported it in 
backroom dealings, quietly authorizing 
facilities support and air, land, and sea 
access. 
But if Arab Gulf states were quietly 
supportive in the past, their opposition to 
American military force is likely to grow 
in the future. They read the aftermath of 
the Arab uprisings much differently than 
did American and European 
policymakers. The Gulf monarchies were 
shocked that the United States 
""abandoned"" Egyptian President Hosni 
HOUSE OVERSIGHT 029717 
Mubarak in his time of need in early 
2011. Their leaders expected the United 
States to push for Mubarak and the 
Egyptian military to crack down on 
public protests in Cairo. After all, 
American policymakers during the Carter 
administration had at least given this 
policy option consideration during the 
Iranian revolution in 1979. 
Already, several Gulf states have begun 
to translate their displeasure into policy 
independence from Washington. In 2011, 
for example, a coalition of Gulf states led 
by Saudi Arabia intervened in Bahrain to 
quell domestic unrest in the island 
country. They did so under the banner of 
the Gulf Cooperation Council (GCC), 
which for years had been a feckless 
military force. Largely unnoticed in 
Western commentary was that the GCC, 
for the first time in its history, mounted a 
relatively effective military intervention. 
Bahrain today is for all intents and 
purposes a province of Saudi Arabia, 
even if it is not polite to say so in 
diplomatic circles. Since the Iranian 
revolution, Bahrain -- like the United 
Arab Emirates, Kuwait, Oman, and Qatar 
-- has pursued close ties with the United 
States, in significant measure to 
counterbalance Iran and Saudi Arabia. 
With Washington at their back, they were 
able to stake out security policies that 
were at least nominally independent from 
HOUSE OVERSIGHT 029718 
Saudi Arabia. When Saudi Arabia wanted 
American forces removed from the 
kingdom, for example, Qatar was eager 
to compensate by hosting a more robust 
American command presence in the 
region. 
The Arab uprisings and subsequent GCC 
intervention in Bahrain have turned the 
tables, making Saudi security backing a 
necessity for the smaller Gulf 
monarchies. From their perspective, 
American forces are clearly more capable 
than Saudi forces, but given the 
alignment of their interests, Riyadh is a 
more reliable security partner. Gulf 
leaders and military commanders in the 
coming decade will be focused on how to 
avoid following in Mubarak's footsteps. 
Part of minimizing that risk will involve 
decreasing security dependency on the 
United States. Gulf leaders have to worry 
that if push comes to shove, the 
Americans will throw them under a bus 
just like they did to Mubarak. 
* * * 
If the political dynamics in the Middle 
East and South Asia do not favor further 
American military intervention in the 
future, neither do the emerging military 
trends. The proliferation of supersonic 
cruise missiles and mines in the region 
will make for nasty forced entries into 
HOUSE OVERSIGHT 029719 
narrow maritime confines like the Suez 
Canal, the Red Sea, and the Persian Gulf 
But the likely proliferation of nuclear 
weapons -- and ballistic missile delivery 
systems -- will pose even more 
formidable challenges to conventional 
military surges in the region. In the 
future, the United States will not be able 
to take for granted unchallenged surges 
of naval, air, and ground forces into 
regional theaters via logistics hubs. These 
hubs -- like the American naval presence 
in Bahrain -- are large, readily 
identifiable, and will be increasingly 
vulnerable to future targeting by nuclear 
weaponry. 
Iran's nuclear weapons, assuming it gets 
them, will pose a direct threat to 
American military surge capabilities. 
Although American policymakers and 
military commanders might feel 
confident that they could surge forces 
into the Gulf despite Iranian nuclear 
threats because of the American nuclear 
deterrent, Gulf security partners might be 
more nervous and less willing to 
cooperate. As a result, they might not 
grant access to U.S. air, naval, and 
ground forces out of fear of angering 
Iran. 
American observers who doubt that Gulf 
states would make such calculations 
should recall how Kuwait responded in 
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the lead-up to Iraq's invasion in 1990. 
When faced with a build-up of Iraqi 
forces along its border, Kuwait decided 
not to mobilize its military out of fear 
that the move would provoke Saddam 
Hussein. The incentives for Gulf states to 
make similar strategic calculations in the 
future will be greater when Iran has an 
inventory of nuclear weapons to match its 
growing ballistic missile capabilities. 
The Gulf states, moreover, will likely 
reason that the U.S. capability to threaten 
or use force against a nuclear Iran will be 
significantly diminished. Even without 
nuclear weapons, Gulf states have seen, 
in their view, a long history of American 
reluctance to threaten or use force against 
Iran. For example, the United States took 
no direct military action against Iran after 
it aided and abetted Hezbollah bombings 
against Americans in Lebanon in the 
1980s, after Iran supported the bombing 
of Khobar Towers in Saudi Arabia in 
1996, or even after Iran supported the 
deadly campaign of improvised explosive 
devices (IEDs) against U.S. troops in 
Iraq. Gulf states will no doubt judge that 
if the United States was unable and 
unwilling to attack Tehran under these 
circumstances, then it is certainly not 
going to attack Iran in the future, when it 
will be able to retaliate with nuclear 
weapons. 
HOUSE OVERSIGHT 029721 
American policymakers may counter that 
Iran would never be foolish enough to 
threaten or use nuclear weapons against 
the United States, given its robust nuclear 
deterrence posture. But the threat or use 
of nuclear weapons might not look so 
foolish from Iran's perspective. One of 
the great strategic lessons drawn from the 
long history of conflict in the Middle East 
is this: Do not go to war without nuclear 
weapons, as Saddam Hussein did when 
he invaded Kuwait. The corollary is: Do 
not allow the United States to 
methodically build-up forces in the Gulf 
prior to invading, as Saddam did both in 
the run-up to the 1991 re-conquest of 
Kuwait and in 2003, before the drive to 
topple the regime in Baghdad. 
Drawing upon these lessons, Iran will 
likely do everything in its power to deny 
the United States the ability to surge 
conventional forces into the region -- and 
that might include threatening to target 
U.S. forces with nuclear weapons. Iran 
might accept the risk that preemptive use 
of nuclear weapons could bring on 
American nuclear retaliation, because 
failure to do so would mean certain 
destruction for the regime. The United 
States would be able to build-up 
conventional forces in the region and oust 
Iran's leaders just as it did in Baghdad. 
This line of strategic reasoning runs 
counter to conventional wisdom in the 
HOUSE OVERSIGHT 029722 
West, but we actually know little or 
nothing about what Iranian decision-
makers think about nuclear weapons or 
deterrence theory. Since the Iranian 
revolution in 1979, opportunities for the 
exchange of professional views between 
Western and Iranian scholars, 
policymakers, and military leaders on 
these critically important issues have 
been extremely limited. Therefore, it's not 
unreasonable to assume that the Iranians, 
like American policymakers in the early 
stages of developing their nuclear triad 
doctrine, will think of nuclear weapons as 
merely ""big artillery."" Unfortunately, the 
United States and its security partners 
lack formal and informal exchanges with 
the Iranians akin to the Cold War 
discussions and arms control negotiations 
between the Americans and Soviets, 
which allowed both parties to develop 
mutual understandings of the other's 
perception of nuclear weapons. These 
understandings were essential for crisis 
management in the Cold War strategic 
relationship after the Cuban missile 
crisis. 
Meanwhile, the Gulf states, led by Saudi 
Arabia, are likely to look for their own 
nuclear deterrents. Much like France 
wanted its own nuclear force de frappe 
during the Cold War, the Gulf states will 
want their own nuclear weapons to deter 
Iran. Saudi Arabia and the smaller Gulf 
HOUSE OVERSIGHT 029723 
states will worry that the United States 
would be deterred from coming to their 
defense in future regional crises by Iran's 
nuclear weapons. 
Saudi Arabia and other Arab states are 
likely to see nuclear weapons as a quick 
fix for all of their security woes. 
Although they have been on a shopping 
spree in the past decade, buying 
expensive and sophisticated Western 
military technology, they have had a 
tough time absorbing the new technology 
and fully utilizing and integrating 
weapons systems. To be sure, in a rough  
net assessment, Saudi Arabia and its 
allies in the Gulf have significantly 
greater conventional capabilities than 
Iran. But if Iran goes nuclear, they will 
want to follow suit. 
* * * 
Americans may be weary of conflict in 
the Middle East and South Asia, but 
strategic prudence demands that we 
contemplate future military interventions 
in the Central Command theater. A scan 
of the horizon reveals that both political 
and military trends in the region pose 
formidable obstacles to conventional 
force surges into the region. 
But there is another wrinkle in this story 
that U.S. policymakers must contend with 
as they plan for the future. As Gulf 
monarchies seek to reduce their 
HOUSE OVERSIGHT 029724 
dependence on American military power, 
they will increasingly look to China for 
security assurances. China does not have 
a political agenda devoted to promoting 
democratization, and it maintains 
political and diplomatic ties with both 
Arab states and Iran. China's military 
activity in the region is modest but 
increasing, as evidenced by its recent 
peacekeeping dispatches to the region 
and naval port visits in the Gulf Beijing 
is likely to send more naval forces to the 
Gulf to increase its presence there and 
enhance its ability to protect the sea lanes 
which bring oil to China's thirsty 
economy. China is keenly aware that the 
United States has naval supremacy in the 
Gulf, but will be working to erode that 
strategic edge in the future. 
Faced with these realities, there is a need 
for new thinking and innovative 
conceptualizations of surges into 
Centcom's area of responsibility. Theater 
campaign planners will have to think 
about contingencies in which the United 
States cannot slowly and methodically 
build up forces in the region and then 
kick off campaigns after most troops, 
arms, and equipment are in place. Future 
U.S. force build-ups in the region will be 
far too vulnerable to preemptive nuclear 
strikes. As a result, planners will have to 
devise campaign plans in which the 
insertion of U.S. military forces begins 
HOUSE OVERSIGHT 029725 
with an immediate rolling and flowing 
start. The United States will have to work 
from smaller troop footprints and be 
prepared to start fighting even as follow-
on-forces are on the way. Ideally, these 
forces would flow from multiple staging 
positions to reduce vulnerability to 
nuclear attack. The politics of the region, 
however, will work against securing a 
multitude of staging areas from which to 
deploy. 
The region under the purview of 
Centcom has always been riddled with 
political violence that has posed 
formidable challenges to military 
operations. But in plotting a course over 
the horizon, the political and military 
obstacles for American military surges 
into the region are poised to grow even 
larger. As a result, theater contingency 
planners will have fewer good options for 
projecting American military power into 
the region -- and they'll have to do more 
with the bad and the ugly. 
Richard L. Russell is Professor of 
National Security Affairs at the Near East 
and South Asia Center for Strategic 
Studies. 
HOUSE OVERSIGHT 029726 
Article 6. 
The Diplomat 
Getting to the Endgame  
With Iran  
Robert Dreyfuss 
February 6, 2013 -- Why did it take so 
long to secure a date for talks between 
Iran and the P5+1? 
After all, in the weeks before the 
presidential election in November, it was 
reported that the United States and Iran 
had already tactically agreed to convene 
private, one-on-one talks. And since then 
the United States, the European powers, 
Russia, and China, all sought to arrange 
another round of negotiations, first in 
December and then in January. It now 
appears that Iran, which is about to enter 
its presidential election season, has 
finally agreed to what will be the first 
round of negotiations with the P5+1 since 
the last round in Moscow seven months 
ago. On Tuesday, Tehran announced that 
it will join talks on February 26 in 
Kazakhstan. 
The negotiations will be a serious test for 
the Obama administration and for John 
Kerry, the new secretary of state. 
Previous rounds have all faltered because 
neither side was willing to make 
HOUSE OVERSIGHT 029727 
concessions to the other, and so far there 
is little sign that the United States and the 
P5+1 have improved their offer to Iran 
very much. As the talks were announced, 
the Washington Post reported: ""The P5+1 
powers have made only mild revisions to 
a proposal that Iran flatly rejected last 
June."" Until now, the United States has 
been unwilling to acknowledge Iran's 
right to enrich uranium on its own soil 
and to suggest that some economic 
sanctions might be lifted as part of a deal, 
and Iran has refused to agree even to a 
limited deal called ""stop, ship, and shut"" 
— involving the suspension of its 
enrichment to 20 percent purity, shipping 
its existing stockpiles of 20% uranium to 
a third country for processing, and 
shutting down its underground facility at 
Fordo, near Qom — without an agreement 
to lift sanctions. 
After the reelection of Barack Obama in 
November, there were great hopes that 
the president would have greater political 
freedom of offer concessions to Iran. Yet, 
publicly at least, the White House isn't 
signaling that it is ready to make a more 
generous offer to Iran, and in fact Obama 
in January signed into law yet another 
round of draconian economic sanctions. 
Perhaps as a result, Iran allegedly 
dragged its feet on setting a date for talks. 
Despite prodding from the P5+1 — 
including urgent efforts by Russia — in 
HOUSE OVERSIGHT 029728 
January Iran reportedly went silent about  
talks. Russia, increasingly frustrated by 
the inability of Tehran and the West to 
negotiate seriously, vented its frustration. 
""Some of our partners in the six powers 
and the Iranian side cannot come to an 
agreement about where to meet,"" Russian 
Foreign Minister Sergei Lavrov told a  
news conference. ""We are ready to meet 
at any location as soon as possible. We 
believe the essence of our talks is far 
more important (than the site), and we 
hope that common sense will prevail and 
we will stop behaving like little 
children."" 
According to analysts in Washington, 
reinforced by comments from Iran itself, 
a big reason for Tehran's recalcitrance is 
that Iran wants to prove to the United 
States that its vaunted sanctions regime 
will not force Iran to make unilateral 
concessions at the bargaining table. In 
addition, Iran is concerned that it won't 
get much in return in talks with the West, 
and that it will be asked to make 
unilateral concessions on uranium 
enrichment without getting sanctions 
relief in return. Combined with Iranian  
internal divisions, as its own presidential  
election season gets underway, that could 
mean that for the next six months or so 
Ayatollah Ali Khamenei simply won't be 
ready to talk seriously, despite scheduling 
the Kazakhstan round. 
HOUSE OVERSIGHT 029729 
Others suspect that Iran is waiting to see 
how President Obama's new national 
security team — with Kerry as secretary of 
state, Chuck Hagel as secretary of 
defense, and John Brennan at the Central 
Intelligence Agency — will shape 
Obama's stance at any talks. 
In Washington, some would argue there's 
a growing consensus, at the level of think 
tanks, Iran experts, and other analysts, 
that a preliminary, first-round deal, 
including ""shop, ship, and shut,"" might 
work, if in response the P5+1 could lift 
some of the economic sanctions on Iran 
and agree to limited Iranian enrichment. 
Perhaps the best-case scenario is the 
possibility that there are ongoing, secret 
and back-channel talks between 
Washington and Tehran. Nothing along 
those lines has leaked and there is no 
indication of this, yet. But in advance of 
the first round of Iran-P5+1 talks in 
Vienna in 2009, the United States and 
Iran did indeed engage in quiet, behind-
the-scenes diplomacy. 
In fact, of course, any sanctions relief for 
Iran will occur slowly and step-by-step, 
not all at once, in parallel with steps 
taken by Iran and openness to more 
intrusive inspections and oversight by the 
IAEA. 
But it's certainly not helpful that in early 
January yet another round of unilateral 
HOUSE OVERSIGHT 029730 
sanctions was passed by Congress and 
signed into law by President Obama. The 
complex set of new measures targets key 
industrial sectors, including shipping and 
imports of products such as aluminum, 
steel and coal, and seeks to block Iran 
from using barter commodities such as 
oil and gold to pay for imports. The 
Washington Post paraphrased U.S. 
officials as saying that, ""the new policies 
are closer to a true trade embargo, 
designed to systematically attack and 
undercut Iran's major financial pillars 
and threaten the country with economic 
collapse."" Obama signed the National 
Defense Authorization Act (NDAA) that 
contained the sanctions provisions 
despite having hinted earlier that he 
might veto the NDAA over a host of 
measures contained in the bill. 
If the Obama administration believes that 
ever-tougher sanctions will cause Iran to 
cave in at the talks, it's likely that they 
are badly misreading Iranian politics. 
For many observers, however, and for 
Iran, too, the nomination of Hagel for 
secretary of defense may be a sign that 
the White House is beginning to realize 
that sanctions, and threats of military 
action, won't force Iran's hand. 
As has been widely reported, hawks, 
neoconservatives, and members of the 
pro-Israel lobby in Washington have 
HOUSE OVERSIGHT 029731 
slammed Hagel for his past comments 
and positions on Iran. In conjunction with 
Israel-friendly members of Congress, 
they've warned Obama to rein Hagel in 
so as not to send a dovish signal to 
Tehran. Robert Satloff, executive 
direction of the Washington Institute for 
Near East Policy (WINEP), a pro-Israel 
think tank, warned bluntly that the White 
House should act quickly to make sure 
that Hagel backs away from his previous 
views on Iran and at least toes the 
administration's tougher line. ""If the 
White House does not take steps soon to 
correct that impression, the chances for a 
negotiated resolution of the Iran nuclear 
crisis will fall nearly to zero and the 
likelihood of Israeli military action will 
rise dramatically,"" he wrote. 
Indeed, within days of his nomination as 
secretary of defense, Hagel was already 
backing away from his earlier views, 
meeting with senior Pentagon officials 
and influential senators who'll vote on 
his confirmation to clarify his views on 
Iran, asserting that he supports broad 
international sanctions against Iran and 
that he believes that the military option 
ought to be ""on the table."" Several 
Democratic senators who met with Hagel 
announced with satisfaction that the 
former senator from Nebraska had 
sufficiently backtracked or ""clarified"" his 
views on Iran. Consequently, they 
HOUSE OVERSIGHT 029732 
announced that he had earned their 
support — and their vote. 
Then, during his confirmation hearings 
on January 31, Hagel — under hostile 
questioning from several Republican 
senators — backed away from earlier-held 
positions on Iran, including the role of 
sanctions. And, though he previously 
been a sharp critic of a military attack on 
Iran, in his opening statement Hagel said: 
""I am fully committed to the President's 
goal of preventing Iran from obtaining a 
nuclear weapon, and—as I've said in the 
past—all options must be on the table to 
achieve that goal. My policy is one of 
prevention, and not one of containment—
and the President has made clear that is 
the policy of our government. As 
Secretary of Defense, I will make sure 
the Department is prepared for any 
contingency."" 
Satloff's views were echoed by another 
tough-talking official at WINEP, former 
Ambassador Dennis Ross, a pro-Israel 
hawk who served as Obama's top adviser 
on Iran during much of the president's 
first term. ""I think 2013 is going to be 
decisive,"" Ross told the Los Angeles  
Times, expressing concern about Hagel's 
previous comments. ""Time really is 
running out. For diplomacy to have a 
chance of success, the Iranians need to 
understand that if diplomacy fails, force 
is going to be the result. We still have a 
HOUSE OVERSIGHT 029733 
challenge to convince the Iranians that 
we're quite serious about the use of 
force,"" he said. ""In the first term, the 
administration didn't always speak with 
one voice on this issue. So what Hagel 
says can make a difference."" 
Despite his poorly receieved performance  
at his confirmation hearings, it's widely 
believed in Washington that Hagel will 
be confirmed as secretary of defense and 
that his private advice to Obama will 
more closely hew to his long-held beliefs 
about the futility of sanctions and the 
grave downside to a military strike. Partly 
for that reason, it remains very unlikely 
that the Obama administration will resort 
to force to resolve the dispute with Iran. 
In fact, in remarks that Iranian officials 
cited as promising, Vice President Joe 
Biden expressed the administration's 
willingness to hold bilateral talks with the 
Iranians. In response to a question at the 
Munich Security Conference Biden said, 
""We have made it clear at the outset 
that...we would be prepared to meet 
bilaterally with the Iranian leadership"" 
when Iran's Supreme Leader Ayatollah 
Ali Khamenei is serious about 
negotiations. Iran's Foreign Minister, Ali 
Akbar Salehi responded favorably and 
said, ""I am optimistic, I feel this new 
administration is really seeking this time 
to at least divert from its previous 
HOUSE OVERSIGHT 029734 
traditional approach vis-a-vis my 
country."" 
But if Washington remains committed to 
ever-tougher sanctions — and without 
promising Iran that sanctions will be 
lifted as part of a deal — then negotiations 
are unlikely to succeed. Vali Nasr, 
another former Obama administration 
official with expertise on Iran, suggested 
recently that there's not much more the 
world can do to sanction Iran, and that 
such penalties could drive Tehran to take 
radical action. The regime of sanctions 
against Iran over its nuclear activity 
""really has reached its end,"" Nasr, dean of 
the Paul H. Nitze School of Advanced 
International Studies at Johns Hopkins 
University, said during the World 
Economic Forum in Davos. And he 
warned that unless there is a diplomatic 
breakthrough — or, alternatively, an 
attack on Iran — ""you really are looking 
at a scenario where Iran is going to rush 
very quickly towards nuclear power, 
because they also think, like North 
Korea, that (then) you have much more 
leverage to get rid of these sanctions."" 
Robert Dreyfuss is an independent, 
investigative journalist in the 
Washington, D. C, area, who writes 
frequently for The Nation, Rolling Stone, 
and other publications. His blog, The 
HOUSE OVERSIGHT 029735 
Dreyfuss Report, appears at 
TheNation.com. He is the author of 
'Devil's Game: How the United States 
Helped Unleash Fundamentalist Islam'. 
Article 7. 
The Wall Street Journal 
A New U.S. International 
Economic Strategy  
Robert B. Zoellick 
February 5, 2013 -- Five years into the 
global economic storm, America's 
traditional allies, theEuropean Union and 
Japan, are struggling. Developing 
economies are reshaping the global 
dynamic but also face big challenges. The 
United States is the one country that 
could lead the modernization of the 
international system so as to supply 
security, economic opportunity, and 
prospects for liberty. America's own 
strategy for economic revival cannot be 
limited to the nation's borders. And its 
future foreign policy—its projection of 
power and principle—must be grounded 
in the emerging economic order. 
President Obama has said he admires 
Ronald Reagan's transformative thinking. 
If so, he should ask for an assessment of 
HOUSE OVERSIGHT 029736 
Reagan's second-term innovations on 
currency and monetary affairs, trade, debt 
and development. Reagan advanced a 
new international system to match the 
revival of capitalism after the oil shocks 
and stagflation of the 1970s. America's 
success in the 1980s contributed both to 
the end of the Cold War, by persuading 
the Soviet Union it could not keep up, 
and to two decades of exceptional global 
growth. 
The new U.S. international economic 
strategy should have five parts. First, this 
country should strengthen its continental 
base by building on the North American 
Free Trade Agreement with Canada and 
Mexico. Together, the three partners 
could boost energy security, improve 
productivity, and give North Americans 
an edge in manufacturing and other 
industries that are already experiencing 
rising wages in East Asia. A politically 
acceptable immigration policy, and a 
push for educational innovation using 
new technologies and competition, could 
lead to a more prosperous, populous, 
integrated and democratic future for the 
hemisphere. 
Second, the extraordinary monetary 
policies of late, led by the Federal 
Reserve's continued near-zero interest-
rate policy, are taking us into uncharted 
territory. Central banks have tried most 
every tool to stimulate growth; if Japan is 
HOUSE OVERSIGHT 029737 
any warning, the next tactic is 
competitive devaluation, which risks a 
new protectionism. ""Currency 
manipulation"" could become a danger 
that reaches far beyond the debate about 
Chinese policies. The world economy 
will need at some point to withdraw the 
drug of cheap money and negative real 
interest rates. The U.S. should anticipate 
these dangers. 
The International Monetary Fund also 
could help set standards about exchange-
rate policies and serve as a referee that 
blows a whistle, even if it cannot 
penalize. The IMF and the World Trade 
Organization should anticipate this risk 
and give effect to the existing WTO 
agreement that economies must ""avoid 
manipulating exchange rates . . . to gain 
an unfair competitive advantage."" 
Third, the U.S. needs to break the logjam 
on opening markets. As the leading world 
economy, America should initially try to 
strengthen and increase international 
trade through the WTO. As my 
colleagues at the Peterson Institute have 
pointed out, there are gains from the 
stymied Doha Round of trade 
negotiations that should be harvested 
now: ending agricultural export 
subsidies; limiting food export controls; 
eliminating tariffs and quotas for almost 
all exports of the poorest countries; 
facilitating customs and clearance 
HOUSE OVERSIGHT 029738 
procedures; and improving the 
transparency and speed of the system for 
settling disputes. 
Next, the U.S. needs to keep the WTO 
current with a vastly changed world 
economy. The past WTO agreements are 
valuable for all 158 WTO members. But 
some economies want to go further by 
reducing barriers in important sectors 
such as the services trade, environmental 
goods and services, government 
procurement, and the digital economy. 
The services trade, for example, is vital 
for boosting innovation, productivity and 
jobs in developing and developed 
countries alike—but regulatory, 
licensing, zoning and other barriers to 
services are often equivalent to a 30% 
tariff or higher. Because liberalization in 
the WTO has been stuck, countries have 
turned increasingly to bilateral and 
multilateral free-trade agreements, some 
of which have addressed these newer 
topics. The U.S. should foster the WTO 
principle of world-wide liberalization by 
adopting standards in various industries 
and sectors that would be open to all 
economies that reciprocate. The WTO 
also needs new rules for fair trading by 
state-owned enterprises. 
Yet the U.S. also should use free-trade 
agreements to open markets. Trade 
competition advances structural reforms 
HOUSE OVERSIGHT 029739 
and growth without bigger government 
and more spending. The Obama 
administration has talked about trans-
Pacific and trans-Atlantic accords. Yet it 
has failed to close even one new free-
trade agreement. Ron Kirk, the 
president's trade representative, said in 
2009 that the administration did not have 
""deal fever."" In fact, it has been ""deal 
delinquent."" 
Fourth, gender equality is not only fair 
and right—it is smart economics. No 
economy can reach its potential if it 
overlooks the talents of half its people. 
The U.S. should lead in identifying 
structural barriers in countries that hold 
back girls' and women's health, 
education, credit, jobs and 
entrepreneurship. 
Finally, the U.S. needs to match growth 
priorities of developing economies. 
President Obama should expand the 
global food-security initiative he 
announced in 2009 to boost agricultural 
productivity and production across the 
value chain, including through the private 
sector, in sub-Saharan Africa and other 
poor regions. Infrastructure investment 
could increase global demand today 
while building productivity for tomorrow. 
The U.S. can lead a push with middle-
income economies to develop public-
private infrastructure models that move 
HOUSE OVERSIGHT 029740 
from ""one-offs"" to a deal flow. The zero 
returns for savers from U.S. monetary 
policy can make infrastructure 
investments attractive. 
In addition to offering financing, the 
private sector can improve the design, 
operation and maintenance of 
infrastructure. As the state of Indiana has 
shown, the federal government could 
profitably use public-private partnerships 
for its infrastructure, too. 
The administration has talked about some 
of these topics. But it is oddly passive, as 
if it were hesitant to lead. State 
Department speeches are not enough. To 
carve out an international economic 
strategy, the new secretary of the 
Treasury needs to choreograph policies 
across all U.S. departments and with 
multilateral economic institutions. The 
U.S. had better wake up: International 
economic strategy is the new foreign 
policy. 
Mr. Zoellick has served as president of 
the World Bank Group, U.S. trade 
representative and deputy secretary of 
state. He is now a fellow at the Belfer 
Center at Harvard and the Peterson 
Institute for International Economics. 
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IMAGES-002-HOUSE_OVERSIGHT_012564.txt,"Sonne SIPTRTN TD re FS RAST IE SEPT

- Ph. 561.682.0905 - Fax. 561.682.1771 : ,
ome"" T6855 Palit’ Beach Lakés Blvd., Suite 500°- West Palm Beach, FL'33401"" °°"" ~* > me

HOUSE_OVERSIGHT_012564
"
IMAGES-005-HOUSE_OVERSIGHT_018529.txt,"women never have our own damn sexual needs; that it's wrong or wicked or dirty for
women to negotiate any sexual exchange for pleasure; that women are meant to trade sex
for ""commitment"" or ""support"" (though, bizarrely, never outright for money). If we
assume that I can get something great from sexual relationships without Being On The
Path To Marriage. That I understand and honor my sexual desires, that those desires are
worth fulfilling in themselves. And if we assume that men have something wonderful
they could bring to the sexual exchange; that they aren't always ""using"" or ""exploiting"" or
""winning"" some kind of sick war-of-the-sexes, every single time they fuck.

But even if the fears don't make sense, sometimes they still come out and whisper at the
back of my neck... /'m selling myself short. As if I should have bargained better, should
have traded my sexuality for far more than ""mere"" pleasure with someone I ""merely""
liked, was ""merely"" attracted to, who ""merely"" respected my boundaries and ""merely""
was fun to hang out with. Would some people see it as ironic that I prefer relationships
with real emotional heft, even when short-term or casual? Even with that said, though,
there is no description of how reasonable, safe, or awesome my relationships are that will
matter to our slut-shaming society -- or to the fears it's hammered into me. Society,
whose judgment of whether a girl is a ""slut"" can be sudden and devastating, stupid and
stereotypical; a lightning strike that lands based on absurd factors like how non-
normative or straightforward or aware of her sexuality she is. And once I'm a ""slut"" -- if]
dare dance over that ever-shifting line -- then I'm beyond the pale. The world always
seems to be outdoing itself in finding new ways to tell me that once I'm a slut, no man
will ever respect me again.

TK OK ok

I went home. It was raining, all across my cypress city; raining so hard, I had to take the
bus instead of walking. The rain struck me as an insultingly obvious metaphor, as did the
fact that I was scheduled to attend a wedding that afternoon. It seemed strange that
hallucinatory San Francisco would throw such tired tropes at me. (I should have trusted
the city more. It was with me, still.)

I was sad. Not devastated. Just sad, and a little bit scared. /'m such a screwed-up
perverted slut, no man will ever care about me. However, I'm an adult, so I tried to
recognize my emotional baggage, give myself some time to process, then eat a proper
lunch and get some work done.

I took a very dear, very blunt friend out to dinner recently. (Yes, I paid, and yes, he felt
objectified.) Over Indian curries, I tried to explain my fears that All Men (who are of
course a monolith) will pigeonhole me as ""too much"", ""too extreme."" A ""slut."" Whatever.
My friend listened, savoring his delicious lassi as he thought about what I was trying to
say. Then he said, ""Look, you shouldn't worry about it. You're extreme. You're also tall.
You couldn't be un-tall for a man, and you can't be un-extreme. There are men who will
like you just fine for it, so just keep an eye out for those men.” I could detect the edge
under his words: Come on, Clarisse, you're the one who always says that People Are
Different, why do I even have to tell you this? A fair point, but I can't help it -- stories like
this still shake me.

As it happens, though, this story has a happy ending.

HOUSE_OVERSIGHT_018529
"
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GUID: A5DF9F12-40D6-4505-BA2E-4D652A348234 
Message: K 
Sender: 
Time: 07/17/18 12:16:44 PM (553547804) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: A58A1731-A83B-4D0O-B625-19F9B2A923EA 
Message: 7 am? 
Sender: e:jeeitunes@gmail.com 
Time: 07/17/18 12:16:53 PM (553547813) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: A3F559C7-6E98-4349-8296-99F05F32C261 
Message: Done 
Sender: 
Time: 07/17/18 08:30:48 PM (553577448) 
Flags: 1052673 
Is Read: No 
Is Invitation: No 
GUID: 2BAF6284-BA1C-485B-8875-E9FA7CA16D9E 
Message: See u then 
HOUSE OVERSIGHT 027331 
"
IMAGES-002-HOUSE_OVERSIGHT_014115.txt,"Case 9:08-cv-80736-KAM Document 319-1 Entered on FLSD Docket 03/24/2015 Page 32 of
34

Thomas E. Scott, Jr., Esq.

Re: Edwards and Cassell v. Dershowitz
February 25, 2015

Page 4

WL 1328259, at *5 (S.D.N.Y. 2006) (“Courts have long construed the term ‘control’ as
meaning more than simple ‘possession.’ 'Control has been construed broadly by the
courts as the legal right, authority, or practical ability to obtain the materials sought
upon demand.""). See also Frantz v, Golebiewski, 407 So.2d 283, 285 n.4 (Fla. 3 DCA
1981) (""Interpretations of the federal rule are persuasive in considering its Florida
equivalent."").

While your responses purport to recognize the obligation to produce documents subject

to Mr. Dershowitz’s “control”, there are qualifications in the responses that would

appear to contradict that recognition. Your objection to the production of metadata has
_no legal foundation.

Word Play and Gamesmanship

You will note that we do not include page after page of definitions. I believe that any
lawyer reasonably fluent in English can carry out his or her duty to construe
interrogatories and requests for production in the broad and liberal manner intended by
the rules. Florida courts frown on parsing and gamesmanship. See, e.g. First Healthcare
Corp. v. Hamilton, 740 So.2d 1189, 1194 (Fla. 4"" DCA 1999) (chastising counsel who
did not turn over ""event"" reports because plaintiff requested ""incident"" reports as
engaged in ""little more than a semantic shell game."").

Repeated assertions that statements were made by Mr. Dershowitz “upon information
and belief” is an example of prohibited “word play.” That qualification has no bearing
on the Defendant’s discovery obligations.

“Will Produce”

The Rules of Civil Procedure require production and not just a commitment of
production at some unspecified future date. If the documents you intend to produce are
available for inspection and copying now as they are required to be, we are prepared to
pick them up immediately. If they are not immediately available, when will they be?

Timeframe Objections

Your repeated attempts to restrict discovery to a narrow timeframe, fail to account for
the fact that this is a defamation action arising out of broad defamatory statements made
by Mr. Dershowitz impugning the honesty and integrity of the Plaintiffs without any
limitations as to a specific time or circumstance. Mr. Dershowitz has also made broad
public denials of misconduct unrestricted to any specific timeframe. We are entitled to

HOUSE_OVERSIGHT_014115
"
TEXT-001-HOUSE_OVERSIGHT_031552.txt,"From: Weingarten, Reid 
Sent: 1/16/2018 9:10:40 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
He shouldn't laugh off the grand jury 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Tuesday, January 16, 2018 3:49 PM 
To: Weingarten, Reid 
Subject: Re: 
After 
On Tue, Jan 16, 2018 at 4:42 PM Weingarten, Reid < wrote: 
When?...(did you ask him after or before he got his grand jury subpoena?) 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Tuesday, January 16, 2018 3:39 PM 
To: Weingarten, Reid 
Subject: Re: 
I told him to join me and Wolff for my birthday lunch. He said yes. He is just checking on a tea party 
conference schedule 
On Tue, Jan 16, 2018 at 4:36 PM Weingarten, Reid > wrote: 
Acela...type it or wait till I get to a quiet place 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Tuesday, January 16, 2018 3:34 PM 
To: Weingarten, Reid 
Subject: Re: 
Number ? Funny story 
On Tue, Jan 16, 2018 at 3:35 PM Weingarten, Reid ‹> wrote: 
Stevie boy is all over the place 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Monday, January 15, 2018 1:08 PM 
To: Weingarten, Reid 
Subject: Re: 
HOUSE OVERSIGHT 031552 
mcgann feels if he stays he risks indicment 
On Mon, Jan 15, 2018 at 10:05 AM, Weingarten, Reid < wrote: 
And...???? Trump stopped them? He cannot stand mcgahn 
From: Jeffrey E. [mailto:jeevacation@gmail.com] 
Sent: Monday, January 15, 2018 10:02 AM 
To: Weingarten, Reid 
Subject: 
mcgann and mcmasters tried to resign 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
HOUSE OVERSIGHT 031553 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
--
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 031554 
"
IMAGES-006-HOUSE_OVERSIGHT_022419.txt,"|

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"
IMAGES-005-HOUSE_OVERSIGHT_019637.txt,"Did Snowden Act Alone? | 149

other whistle-blowers who uncovered what they considered gov-
ernment malfeasance by virtue of their jobs, Snowden, by his own
admission, took a new job in 2013 specifically to get access to the SCI
files concerning NSA sources that he stole from the Threat Opera-
tions Center. Switching jobs in order to widen one’s access to state
secrets is an activity usually associated with penetration agents, not
whistle-blowers. While the technical distinction between a whistle-
blower and a spy may still serve the media in the case of Snowden,
it does not help in solving the counterintelligence conundrum. A
complex theft of state secrets had been successfully carried out in
a supposedly secure site. The only known witness, Snowden, had
escaped to Russia, where he could be of no help in reconstructing the
crime for American intelligence agencies. The stolen data was kept
in the equivalent of sealed “vaults”—actually computer drives that
were not connected to the NSA network. If ever there was a locked-
room mystery, this was it.

According to the FBI investigation, Snowden pierced these barri-
ers by using passwords that belonged to other people and using cre-

© dentials that allowed him to masquerade as a system administrator. ©
It was a feat that must have required meticulous planning.

To address such a mystery, a counterintelligence investigation
starts with a tabula rasa, stripping away all the previous assump-
tions, including that Snowden was the lone perpetrator. It builds
alternative scenarios to test against the known facts. To be sure, sce-
nario building differs from that of a conventional forensic investiga-
tion aimed at finding pieces of evidence that can be used to persuade
a jury in a courtroom. Unlike a judicial investigation concerned with
guilt and innocence, scenario building looks to develop a story that
is, concurrently, intrinsically consistent and humanly plausible, and
in the process it also identifies and explores the possible holes in the
case.

“Scenarios deal with two worlds: the world of facts and the world
of perceptions. They explore for facts but they aim at perceptions
inside the heads of decision makers. Their purpose is to gather and
transform information of strategic significance into fresh percep-
tions,” wrote Pierre Wack in the Harvard Business Review in 1985.
Such scenarios must aim at constituting a limited set of mutually

| | Epst_9780451494566_2p_all_r1.z.indd 149 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019637
"
IMAGES-009-HOUSE_OVERSIGHT_027242.txt,"Time: 04/20/17 11:26:02 AM (514405562)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 56B30E25-DCA6-44DD-A404-5884E8E93A5B
Message: Could maybe do 4 or 5 may??

Sender:

Time: 04/20/17 11:31:30 AM (514405890)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 67A4BEB7-6C9B-4E24-8587-CESB848D6FF7
Message: <Unsupported Message Content>

Sender:

Time: 04/20/17 11:31:45 AM (514405905)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 890DEBEA8-935C-4ADA-A3C2-1813413A4B15
Message: Neal

Sender:

Time: 04/20/17 11:33:27 AM (514406007)

Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 64AF8F1C-AADB-46B5-9395-CA625FC7245A

Message: http://www.nature.com/news/surprising-contenders-emerge-for-trump-s-nih-chief- 1.21295

Sender:

Time: 04/20/17 11:33:27 AM (514406007)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 81E01262-68EE-4043-83A4-455DCDA 1EC61
Message: See on geoff Ling

Sender: e:jeeitunes@gmail.com

Time: 04/20/17 11:49:01 AM (514406941)

Flags: 1150981

Is Read: No

Is Invitation: No

GUID: 5BD76BCA-BF04-465 1-B1F2-47CBBB656A11

Message:
https://www.washingtonpost.com/news/speaking-of-science/wp/2017/04/20/naked-mole-rats-are-now-even-weirder-
without-oxygen-they-live-like-plants/?utm_term=.434743f38339

Sender: e:jeeitunes@gmail.com
Time: 04/20/17 11:57:56 AM (514407476)

HOUSE_OVERSIGHT_027242
"
IMAGES-006-HOUSE_OVERSIGHT_021110.txt,"By

Kimberley A. Strassel
May 10, 2018 6:50 p.m. ET

1663 COMMENTS

oO 0 0 0 0

The Department of Justice lost its latest battle with Congress Thursday when it agreed to brief House
Intelligence Committee members about a top-secret intelligence source that was part of the FBI’s
investigation of the Trump campaign. Even without official confirmation of that source’s name, the news so

far holds some stunning implications.

Among them is that the Justice Department and Federal Bureau of Investigation outright hid critical
information from a congressional investigation. In a Thursday press conference, Speaker Paul Ryan bluntly
noted that Intelligence Chairman Devin Nunes’s request for details on this secret source was “wholly

99 66

appropriate,” “completely within the scope” of the committee’s long-running FBI investigation, and
“something that probably should have been answered a while ago.” Translation: The department knew full
well it should have turned this material over to congressional investigators last year, but instead deliberately

concealed it.

House investigators nonetheless sniffed out a name, and Mr. Nunes in recent weeks issued a letter and a
subpoena demanding more details. Deputy Attorney General Rod Rosenstein’s response was to double
down—accusing the House of “extortion” and delivering a speech in which he claimed that “declining to
open the FBI’s files to review” is a constitutional “duty.” Justice asked the White House to back its
stonewall. And it even began spinning that daddy of all superspook arguments—that revealing any detail

about this particular asset could result in “loss of human lives.”

This is desperation, and it strongly suggests that whatever is in these files is going to prove very

uncomfortable to the FBI.

HOUSE_OVERSIGHT_021110
"
IMAGES-009-HOUSE_OVERSIGHT_028171.txt,"/ BARAK / 37

was coping in his trademark military uniform. Still, the mood music going into the
meeting was encouraging. After the election, Arafat had tried to use his ties with
the ayatollahs in Iran to get them to release 13 members of the tiny Jewish
community in Shiraz who had been jailed on patently absurd accusations of spying
for the “Zionist régime.” Iran had told him no. Given its support for Hizbollah, and
its serial diatribes about destroying the State of Israel, this was hardly a surprise.
But it was a gesture nonetheless, and I told him I appreciated it. I also arrived with
a gift: a leather-bound volume with both the Hebrew Bible and Koran. I began our
meeting with what I felt I most needed him to hear: that both of us were trying to
achieve something hugely important, nothing less than a new relationship between
Israelis and Palestinians based on trust. As I would discover in the months ahead —
as Yitzhak had found as well — Arafat responded warmly to such general appeals
of principle. He replied that he viewed me as a partner, and a friend. But the key
issue of substance — the difference between how I envisaged taking Oslo forward
and what he wanted — was impossible to avoid.

I emphasized that I was committed to the further Wye River summit
redeployments Bibi which had agreed, although not implemented, as well as to a
release of Palestinian prisoners agreed at Wye. Yet then came the more difficult
part: explaining my view of how we could best move toward a full peace
agreement. I said I was convinced the prospects would be much better if we
delayed the redeployments and brought forward the start of the real negotiations:
on “permanent-status” issues like final borders, settlements, Jerusalem, refugees. In
any case, I said, I’'d need a few months for a thorough assessment of the issues
involved, and to reach a settled view with my negotiating team on how to proceed.
Arafat seemed to accept the idea of a pause for reflection and planning. But he held
firm in his opposition to any further delay in the Wye redeployments. More
worryingly for the longer-term prospects of an agreement, he ignored altogether
my suggestion that we move ahead toward the permanent-status talks.

Speaking to reporters, I was careful to accentuate the positive. I said the reason
I’d come to see Arafat so soon was because of the importance I attached to his role
in “shaping peace in the Middle East.” I said I would not waver in continuing on
the path which Rabin and he and begun. And while the security of Israel would be
my paramount concern in negotiations, “I also want each Palestinian to feel
secure.” Both sides, I said, had suffered enough. The open question, however, was
whether / had done enough to persuade Arafat that his exclusive focus on

323

HOUSE_OVERSIGHT_028171
"
IMAGES-004-HOUSE_OVERSIGHT_017253.txt,"4.2.12
WC: 191694

The brothers had never had a “home father.” They referred to Gary as their “prison father,” since
he had spent most of his adult life behind bars, having been convicted of armed robbery and other
predatory crimes.

On the way back to prison from a court appearance, Gary had overpowered the guard, killed him,
took his gun and escaped. He was soon recaptured, sentenced to life imprisonment and soon
began to plan his next escape—this time across the border to Mexico, which was only a two hour
drive from the prison.

Before he could escape, Gary had to get himself removed from the “escape risk” list and
maximum security—to establish a sense of trust in him by the prison officials. When some young
prisoners acted up, Gary worked with the prison officials and helped to control them. He worked
on the newspaper, television, and entertainment committee, earning him the right to have visits
with his family in the outdoor recreation area. Gary used his time with his family to persuade
them to help him escape. After much prodding, the boys agreed.

On a summer visiting day in July of 1978, the three Tison brothers arrived at the Florence State
Prison with their perennial picnic basket. Beneath the fried chicken were pistols and shotguns.

The boys had arranged for a car to be parked in the lot of the local hospital. They knew there
could be shooting. But Gary promised them that nobody would get hurt. “The more firepower
you have,” he instructed them, “the less likely you’ll have to use it.”

“We told Dad,” Raymond later said, “we’ll do this on one condition—that no one gets hurt.”

Gary assured the boys, “We'll make it out without firing a shot or being fired at. And once
outside, it will be clear sailing. I know how it works. I’ve been there before.” He had been there
before, but it hadn’t worked. He had killed a guard and been recaptured.

To the three boys, their father wasn’t a killer. A guard had been accidentally shot in a scuffle. It
was not in cold blood. Their father was incapable of that. Gary told them that his criminal
conduct had been a result of secret training he had received in the “Service.” It was “top secret.”
They believed this fantasy like they believed everything else their father told them. “Nobody was
going to get shot,” their father assured them.

Gary’s prediction proved to be correct about the escape. Raymond went to meet his father in the
picnic area. His brothers Ricky and Donny went into the waiting room with their picnic basket.
A friend of Gary’s, Randy Greenawalt—also a convicted murderer—was in an adjoining control
room. When the other visitors had left, the boys pulled out their shotguns and held the guards at
bay. Raymond and Gary joined them.

When additional guards appeared they were first ordered to lie down and then herded into a
storage room. The door was locked and the power turned off. Then the five simply walked out
the front door. Not a shot had been fired.

166

HOUSE_OVERSIGHT_017253
"
IMAGES-004-HOUSE_OVERSIGHT_018160.txt,"Radio show called ""Wriggling in the Middle"", based out of Canton, Ohio and syndicated
nationally through FOX radio network.

http://www.whbe.com/Wriggling-In-The-Middle/6636686
For anyone who would like to skip directly to the shoes, go to the link below, scroll down to the

show listing (March 28) and fast forward to about the 26-minute mark. The conversation on the

shoes lasts about 7 minutes.

Proximity marketing will push location based service revenues to nearly $13 billion over the
next few years.

SatNews Daily - March 23, 2011 - GTX Corp (OTCBB: GTXO) and ADAM, Inc. have

entered into an exclusive revenue share agreement allowing 123 Chambers of Commerce
representing more than 100,000 businesses nationwide to push out proximity alert promotions,
using the GTX Corp GPS/PLS Platform and leveraging its growing GPS Tracking Smartphone
App user base. Gartner reports that 42 percent of consumers use their phone to check a store
location, 31% use it for a mobile promotion, and 17 percent use their phone for the actual
purchase.

Read the full article

GTX Corp. Joins with Chambers of Commerce on Location Advertising
GPS World - March 22, 2011 - GTX Corp., which provides two-way GPS Personal
Location Services (PLS), and ADAM, Inc., a platform for Hyper Local Mobile Apps for

Directories, entered into an exclusive revenue share agreement allowing 123 Chambers of
Commerce representing more than 100,000 businesses nationwide to push out proximity alert
promotions, using the GTX Corp GPS/PLS Platform and leveraging its growing GPS Tracking
Smartphone App user base, GTX Corp. announced.

Read the full article

New Tech Is Helping Families With Special Needs
March 17, 2011 8:52 PM - MIAMI (CBS4) — New technology is making life a little easier for
people with special needs and their families.

HOUSE_OVERSIGHT_018160
"
IMAGES-012-HOUSE_OVERSIGHT_033535.txt,"Click here to read more...

Check our ongoing updates on 2020 presidential candidates

Israel Destroys Iraqi Nuclear Reactor - June 7,
1981

Quizzes

HOUSE_OVERSIGHT_033535
"
IMAGES-003-HOUSE_OVERSIGHT_015642.txt,"EXHIBIT G

HOUSE_OVERSIGHT_015642
"
IMAGES-007-HOUSE_OVERSIGHT_024421.txt,"perceptions so as to restore that sense of inner control. I describe the Control Factor as an “active and
continuous process” designed to maintain that sense, if not illusion, of control. We natural ly think that our
thinking and feeling processes are passive; that they just happen. Yet when faced with truly frightening
prospects, the mind is geared to actively distort.

Similarly, the sense of control must be continuously maintained so the Control Factor operates constantly. In
turn, the sum of this active and continuous undertaking makes these perceptions all the more familiar and
thus seemingly all the more “real.” In one sense, the Control Factor is the mechanism of what Andy
McCarthy entitled one of his numerous excellent books- willful blindness. The Control Factor is cleverer
than we are aware; that is almost tautological as, if our minds are to create ways to keep us in denial, they
must out maneuver our conscious thinking.

Since World War II, America has had limited experience with threats coming to the homeland. Most of
America’s history has been about “over there,” where we have always known that if things got too out of
hand (e.g. Vietnam) we could always ret urn home. The current generations, for a wide array of reasons,
have had virtually no experience with a threat to this land. (The documentary, Generation Zero, is interesting
on this point).

Consequently, the process of waking up to such a threat parallels the arc of a typical horror film. In such a
film, there is typically a cast of characters surrounding one or two main characters. We in the audience know
there is a threat coming — be it a monster, a virus, a psycho killer, an alien, the blob that ate Cincinnati etc.
This threat is typically defined by its intent- the singular goal of destroying the characters. Much of the initial
exposition shows how the characters first are oblivious to the destruction the threat brings about, then explain
it in familiar terms only to finally open their eyes to see that something uniquely terrifying is happening. The
next stage usually involves a series of failed attempts to deal with the threat- fr om trying to negotiate with it,
to appease it, to coax it, to threaten it with ineffective weapons and so forth. Most of these failings are due to
not adequately appreciating the threat for what it truly is and projecting onto it a host of other attributes
instead. The final stage generally involves a back-up-against-the-wall decision by whichever characters
remain alive. I named this the “turnaround moment” when the character becomes willing to be as ruthless as
the threat. That change in mental state is necessary to ensure survival. Ultimately, the storyline is a race for
whichever characters remain to wake up fully and use whatever advantages they may still have to beat the
threat.

This is the same arc our minds go through in battling our own Control Factors, our own compulsions to deny
that which is staring us in the face. Ultimately, the question is whether we will be able to wake up while we
still have advantages and give ourselves permis sion to fully fight the battle we are in.

I said ear lier that there is a structure to the Control Factor. To oversimplify, I view it much as a pyramid
where on the bottom are the many minute by minute thoughts that are manipulated. I call this level of
maneuvers the many ”D’s” as they include the psychological defenses such as distortion, denial,
demonization, deflection, deletion, detachment, delusion, displacement, discolorization and so forth. Layered
upon these are moves such as projection, where we can assign to our Islamic Enemy traits we wish to see in
them or introject traits from them into ourselves that we wish not to acknowledge. These maneuvers involve
a mixing of identities where we actually lose clarity about who we are and who the enemy is. Projection and
introjection are active almost across the board. It is always helpful, for instance, to ask how what the enemy
accuses us of is more appropriately descriptive of it. When we add Western Guilt and Shame, our need to be
liked, and o ther psychological dimensions, basic thoughts solidify into larger fantasies.

As these narratives (“Our courts will never allow that,” “As a superpower we will always be able to win any
fight we put our minds to,” “Assimilation will ensure Muslims are westernized” ...) gain consent from others
they tend to guide us deeply and become infused on our policies. Ultimately, what emerges is a relationship
we take with our Islamic Enemy that parallels that between an addict and an enabler. Emblematic of this
relationship is the “transfer of responsibility” in which we assume responsibility for the enemy’s behavior
who is addicted to transferring it away from itself. The Control Factor actively maintains this relationship
and makes changing that relationship as difficult a chore as any addict finds in breaking his addiction. And

HOUSE_OVERSIGHT_024421
"
IMAGES-012-HOUSE_OVERSIGHT_033253.txt,"BiBicl

BBC World News - Robert Lawrence Kuhn - September 14, 2017

Host: Why is the mass exodus of Rohingya Muslims from

Myanmar continuing. Today on Impact we bring you different bl 8 8 ra :
perspectives, and one comes from Myanmar’s state media . ~~ Ah oles #5

which claims the military has China’s backing for what it calls
an “Anti-Terror Operation.” It claims the Chinese ambassador
told hig- level officials that the operation should be treated as
an internal affair. Let’s get insight from Beijing where we're
joined by Dr. Robert Lawrence Kuhn, a long-term advisor to
the Chinese government and the author of How China’s
Leaders Think. Robert, thank you for joining us here on
impact, and what do you think is the Chinese interest here?

RLK: China’s foreign policy is clear historically, but it has
been changing under President Xi Jinping. President Xi has a at oat |
grand vision to create an international community of common EIEN WORLD NEws * (UGE cow 22158.18 39.32. ° WASO

destiny, as he calls it, via a new kind of global governance. So,
in this situation, what is China’s position? Historically, of 9009 Local Time 20:12}
course, China’s cardinal principle has been non-interference .

across international boundaries. But there’s much more here
to the story. First of all, China will always skew to supporting
the existing government - especially in cases of minority
issues because China of course has its own minorities and
would not want some new general principle of “responsibility
to protect” to be used in an exaggerated way, because it could
be applied to China’s situation in Xinjiang or elsewhere.

RLK: But there’s more complexity with Myanmar because

Myanmar an ASEAN country and China has great political -
interest in ASEAN, particularly in the South China Sea where ROBERT LAWRENCE KUHN
Vietnam, potentially Indonesia, Philippines (for a time), were Author, 'How China's Leaders Think'

EIEN WORLD NEWS 3K PAGE facebook.com/bbcnews HEADLINES Bate te Gat,
ww!

all claimants against China, and China needs support in that

HOUSE_OVERSIGHT_033253
"
IMAGES-003-HOUSE_OVERSIGHT_015124.txt,"Then Haldeman delivered a resounding pep talk—when he lets loose
he can be an emotional marvel—about the importance of launching a
counterattack against our enemies.

| must say at this point that Rose Mary Woods deserves a Medal of
Honor for the way she was willing to humiliate herself by taking full blame
for accidentally erasing those first five minutes rather than stand by while
my public image was being destroyed.

Moreover, when General Alexander Haig learned from Haldeman’ s
notes that during those additional thirteen-and-a-quarter-minutes there
was a discussion of how to deal with Watergate, thereby proving that | was
involved in the cover-up only three days after the break-in, Haig attributed
the erasure to “sinister forces.” He said this under oath in Judge John
Sirica’ s courtroom.

Now that is loyalty above and beyond the call of duty.

kok #

In retrospect, | realize that H.R. Haldeman was part of the plot
against me all along, always trying to ingratiate himself—anything to
impress me, when actually he w as trying to hurt my political career. Not

that he was against me personally; | was just his particular assignment as

HOUSE_OVERSIGHT_015124
"
IMAGES-006-HOUSE_OVERSIGHT_020568.txt,"109

in the United States, the activity was not in violation of laws against foreign campaign
activity.*

“Exporting” Corrupt or Unethical Business Practices

China scores poorly on international indices of corruption.*° As Chinese companies

expand abroad, it is possible that they could have a deleterious effect simply by exporting
suspect business practices. An industry of particular importance is banking. The “big four”
Chinese banks all operate in the United States, where their assets have increased sevenfold
between 2010 and 2016 to $126.5 billion.” They are often extensively involved in real estate
transactions of Chinese firms operating in the United States. In 2015, 2016, and 2018, China
Construction Bank,** the Agricultural Bank of China, and Industrial & Commercial Bank
of China*® were respectively subject to enforcement action by the Federal Reserve for not
doing enough to fight money laundering.

Chinese corporations in the United States can also hinder the rule of law in other ways.
When responding to lawsuits in US courts, Chinese state-owned enterprises have claimed
exemption due to sovereign immunity; in other instances, Chinese firms with an American
legal presence have refused to comply with US investigations by claiming that cooperation
would violate Chinese law.*' These actions inhibit the ability of the US government to
regulate commerce and put American competitors at a disadvantage within their own
country.

Chinese Manipulation of American Companies as a Vector of Influence”

American companies play a significant role in American foreign and domestic politics and
their leaders regularly are selected to take positions of leadership in government. As a result,
corporate America’s traditional role in favor of engagement with China, given the country’s
market potential, has had significant weight in American policy toward the country.”
China, for its part, welcomed foreign companies’ investment as part of its policy of reform
and opening up in the hope of spurring economic development.

China’s relationship with corporate America has become increasingly fraught. In this report
and elsewhere, China’s state-directed efforts to facilitate the theft of intellectual property,
the lifeblood of developed economies, are well documented. China’s forced transfer of
technology by foreign firms, as a condition of operating in China, is one of the main
complaints of both the Trump administration and the European Union.

But China’s ability to pressure US companies also encompasses three other more elusive
dimensions. First, recognizing the importance of American companies in American
politics, China has frequently cultivated, even leveraged, American executives to

lobby against policies it opposes. Where cultivation fails, it has threatened or exercised

Section 7

HOUSE_OVERSIGHT_020568
"
IMAGES-007-HOUSE_OVERSIGHT_024347.txt,"Table of Contents

OPTION EXERCISES AND STOCK VESTED

(1)

OPTION AWARDS
NUMBER OF SHARES
ACQUIRED ON VALUE REALIZED
NAME EXERCISE (#) ON EXERCISE ($)
Ernest Garcia II — —
Mark Jenkins — —

Benjamin Huston _— —_—
Ryan Keeton —_— —_—
Daniel Gill — =

STOCK AWARDS ()

NUMBER OF
SHARES ACQUIRED VALUE REALIZED ON
ON VESTING (#) VESTING (3)
226,384 8,197,217
226,384 8,197,217
107,624 3,894,768
144,152 5,186,740

Amounts include restricted stock units and Class B Units. The number of shares and values were determined based on the closing price of Carvana
Co.’s Class A common stock on each vesting date and, in the case of Class B Units, the applicable participation thresholds of our B1 Units, B2 Units,
B3 Units, and B4 Units (all as defined above in the “Outstanding Equity Awards at 2018 Fiscal Year End” table).

POTENTIAL PAYMENTS UPON A CHANGE OF CONTROL

(1)

(2)

As described in “Compensation Discussion and Analysis — Termination, Severance, and Change of Control Benefits” above, we do not have an
employment or severance agreement with any of our named executives; however, our NEOs would be entitled to accelerated vesting of certain equity
awards under the following conditions, with values listed as of December 31, 2018:

CHANGE OF

CONTROL (8)
NAME. (a)
Ernest Garcia II _
Mark Jenkins: 7,079,609
Benjamin Huston: 4,026,667
Ryan Keeton: 1,576,953
Daniel Gill: 6,345,721

INVOLUNTARY TERMINATION
WITHOUT CAUSE WITHIN 24
MONTHS OF A CHANGE OF

CONTROL ($) @)
457,515

428,926
428,926
377,473
57 ATs

Amounts in this column represent the market value as of December 31, 2018, on a fully exchanged basis, of the Class B Units, described above under
“Outstanding Equity Awards at 2018 Fiscal Year End,” that would vest upon a change of control of Carvana Group, as long as the executive’s
employment had not been previously terminated and subject to certain escrow demand rights held by a purchaser of control of Carvana Group. The
performance-contingent RSUs would also vest on a change of control, but in proportion to the progress made toward positive EBITDA. None of the
performance-contingent restricted stock units would be subject to accelerated vesting as of December 31, 2018, because EBITDA as of that date had

not progressed beyond the baseline.

Amounts in this column represent the market value as of December 31, 2018, of all outstanding time-based RSUs, which would become fully vested
if the executive is involuntarily terminated without cause within 24 months of a change of control of Carvana Co. In that event, outstanding unvested
stock options would also become fully vested and exercisable, but as of December 31, 2018, the price of Carvana’s Class A common stock did not

exceed the strike price of those unvested options.

- 38 -

HOUSE_OVERSIGHT_024347
"
IMAGES-007-HOUSE_OVERSIGHT_023428.txt,"communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_023428
"
IMAGES-011-HOUSE_OVERSIGHT_031824.txt,"From: DAVID SCHOEN

Sent: 6/15/2019 12:20:06 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: From Fox News - Jeffrey Epstein, registered sex offender, settles civil lawsuit and avoids testimony from alleged

victims

Importance: — High
Hope you are Satisfied with the outcome all things considered.

Ridiculous article. All of sudden the NPA in EB’s case goes from no
jurisdiction even to prosecute to you avoiding a possible life
sentence. Moronic.

Man I sure would like to see you getting some in the W column though and
some press that at least presents the true facts that some of the girls have
admitted under oath. Still a story no one ever has heard and they are
compelling facts.

Good Shabbos.

The numerous young women who say they were sexually abused by
wealthy, Clinton-linked financier Jeffrey Epstein no longer appear set to
testify after a last-minute settlement was reached in a closely-watched civil
lawsuit against the registered sex offender.

https://www.foxnews.com/us/jeffrey-epstein-a-registered-sex-offender-settles-
civil-lawsuit-and-avoids-testimony-from-alleged-victims

Explore the Fox News apps that are right for you at http://(www.foxnews.com/apps-
products/index.html.

HOUSE_OVERSIGHT_031824
"
IMAGES-004-HOUSE_OVERSIGHT_017535.txt,"When Mark Cuban purchased the Dallas Mavericks on
January 14, 2000, the face of the organization began to
change immediately. Once again Mavericks games had
a party atmosphere as Reunion Arena rocked with the
return of the “Reunion Rowdies.” Mavericks games
became more than just ordinary NBA games—

they were a total entertainment experience.

Cuban was not only successful at instilling a sense
of pride and passion into Mavericks fans by presenting himself
as the ultimate role model by cheering from the same seats he
had in years past, but he also became the first owner in team
sports to encourage fan interaction through e-mail on his
personal computer. It was through this personal touch that
fans throughout the Metroplex, and around the world, began
to notice Cuban’s energetic personality and take notice of
the Mavericks. He has personally responded to thousands
of emails, and several suggestions from fans have led to
innovative changes such as a new three-sided shot clock,
which allows line of site to the 24-second clock from
anywhere in the arena.

Cuban’s whatever-it-takes attitude and commitment
to winning has everyone’s attention. From his first introduction
to the team to the end of his first season as owner, the players
responded with a 31-19 record, including a 9-1 mark in April
2000. In addition to hiring special coaches for offense,
defense and shooting, Cuban has promised to do everything
in his power to improve the team. This goal was achieved as
the club finished the 2000-01 season with a 53-29 record en
route to their first playoff appearance in 11 years where they
became just the sixth team in NBA history to be down o-2 and
come back to win a five-game series vs. Utah in Round 1.

Before the start of the 2001-02 season, American
Airlines Center, the Mavs new home, opened and Cuban
co-founded HDNet, an all high-definition television network
on DIRECTV channel 199 which launched in September
2001. As with his other ventures, Cuban is revolutionizing
the television industry with HDNet. He is planning to expand
HDNet to include three more networks showing high-def
sports, movies and entertainment by the end of 2002.

During the Mavs 2001-02 campaign, the team
continued their winning ways by finishing the season with
a franchise-best record of 57-25 and an NBA-best road
record of 27-14, advancing to the postseason for the
second-consecutive year.

Prior to his purchase of the Mavericks, Cuban co-
founded Broadcast.com, the leading provider of multimedia
and streaming on the Internet, in 1995, selling it to Yahoo!
in July of 1999. Before Broadcast.com, Cuban co-founded
MicroSolutions, a leading National Systems Integrator,
in 1983, and later sold it to CompuServe.

Today, in addition to his ownership of the Mavericks,
Cuban is an active investor in leading and cutting-edge
technologies and continues to be a sought-after speaker.

MARK CUBAN

HOUSE_OVERSIGHT_017535
"
IMAGES-009-HOUSE_OVERSIGHT_027524.txt,"Flags: 1060865
Is Read: Yes
Is Invitation: No

GUID: 575D/7FD9-CDID-4CBC-A7B9-OD0010AC1035

Message: <Unsupported Message Content>

Sender: iy

Time: 11/17/18 11:48:45 PM (564220125)
Flags: 1060865
Is Read: Yes

Is Invitation: No

Gl
oO

GUID: C3C213A9-B3E3-4610-8C3A-3A8C57D2AF

Message: At moments

Sender: ii i!

Time: 11/17/18 11:49:03 PM (564220143)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 8F384AF5-DDA7-42F3-BD7/5-BB84B38CB3F3

Message: Right now on the way to the airport

Sender: e:jeeitunes@gmail.com

Time: 11/17/18 11:49:22 PM (564220162)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 4B6A9836-25B9-49F0-9CO07-A040F7144297

Message: Ha

Sender: e:jeeitunes@gmail.com

Time: 11/18/18 03:14:33 AM (564232473)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 4DFA8EA1-8566-466E-88 96-6FD7E4E13896

r,

Message: best part of trip?

Sender: iy
Time: 11/18/18 09:36:00 AM (564255360)
Flags: 1060865

Is Read: Yes

HOUSE_OVERSIGHT_027524
"
IMAGES-006-HOUSE_OVERSIGHT_021676.txt,"_. APR-16-2010 13:43 FBI ICRC WINCHESTER VA P.004
Federal Bureau of InvestigatioMfrivacy Waiver and Certification of Identit Page 1 of 1

Cemplote. vlan, and.mall (orginal signature needed)

0S. Departmont of Justice

Federal Bureau of Investigation

i Privacy Walver and Certification of identity

pultenc Jeitzey E- Bpstetn
Attpan axed: ;

corm adieen 358 EL Brille Wav, Palm Beach, FL 33480 00
Dale or Births 1/20/1953 Placo of mnu_Kings County, New York
Soda socuily Numborfoptonun OFO—44-3348 |

Options: Prlor sddreasas, ciphers 614, which may assiat Uia FB In (ocating tho naquested invormadion}

Thereby walve my dghtao privacy, and | authorize tha PUI to release any and all Information rateting to me to:
4

(Rame, edidorse.& phone of attorney Of citer deslanes}
'

53 P Plaza), Shite a Boston MA O2Z116 -—- 617 227 3700

Undor penalty of 1 Chord am tho on: shove and undorsinnd thateny faificotion ef thle slatemont ts punishable undar tho
Provisiono 418, Untiod Stoths Code (V5.0), Sucve (001 by 6 fite.of not mote then $10,000 of by Imartzonmenl of not mong then tive years, of both: and thal
raquastig zon te punishable under the provisions of Tits 6. U.6.C., Section 5526 (0(3) ov a oisdamannor ond by & fino of

Dots; l 5/ g

{oo
| '

littp://foia.foi.gov/waiver-him 12/29/2009

t.
I

TOTAL P.004

.
i

’
t

HOUSE_OVERSIGHT_021676
"
IMAGES-005-HOUSE_OVERSIGHT_019151.txt,"ERSON

lea other victims had to be
t Epstein’s neighbor reported: |
o find them as quickly as pos-

Palm Beach, more girls were
ise on El Brillo Way.

CHAPTER I2

Alison: September 11, 2005

t might start with the Palm Beach Daily News, which usually
covers charity balls, equestrian events, and gallery openings.
Reporters there would kill to sink their teeth into something
so juicy. On top of that, Chief Reiter knows, Palm Beach is full of
freelance paparazzi and seasoned semiretired journalists.
: ""4 They'd kill for the story, too. For them, it'd be a real-life Body
Heat.
f Over at WPTV, the local NBC affiliate, the phone rings
one day.
It's a tip from a kid, sounding nervous. Something about girls
from a local high school.
There's a prostitution ring out in Palm Beach, says the boy.
] a The tip gets brought up in a midmorning meeting at which
the producers divvy up ideas among the various reporters and
newscasts.

34

HOUSE_OVERSIGHT_019151
"
TEXT-002-HOUSE_OVERSIGHT_032585.txt,"From: 
Sent: 9/9/2017 3:40:30 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
what is your shoes size if you dont mind me asking? 
Sent from my iPhone 
On Sep 9, 2017, at 4:30 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
I think trump cut the legs off your guy. He would like to take all the credit. If there is a deal or be seen to be 
strong on terror 
On Sat, Sep 9, 2017 at 2:34 AM jeffrey E. <jeevacation@gmail.com> wrote: 
See you I in. Ew york thurs? 
On Fri, Sep 8, 2017 at 11:48 PM wrote: 
tamem just called mbs .. he want to sit and talk .. breakthrough 
Sent from my iPhone 
On Sep 8, 2017, at 1:33 PM, jeffrey E. <jeevacationggmail.corn> wrote: 
I will get larson to call you 
On Fri, Sep 8, 2017 at 12:26 PM, 
i will bring you some kuwaiti gifts but not food() 
wrote: 
Sent from my iPhone 
On Sep 8, 2017, at 11:52 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
what is your schedule in new york how long will you be there? 
On Fri, Sep 8, 2017 at 9:09 AM, wrote: 
things look very bad in the gulf.. my feeling trump do not want to end it 
Sent from my iPhone 
On Sep 8, 2017, at 2:28 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
your man did well. congragulations 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
HOUSE OVERSIGHT 032585 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 032586 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032587 
"
IMAGES-008-HOUSE_OVERSIGHT_026273.txt,"From: Steve Bannon [as

Sent: 6/23/2018 12:44:08 PM
To: jeevacation@gmail.com
Subject: Fwd: Re:

Attachments: image001.png; image002.png; image003.png; image004.png
Importance: — High

Big deal

Begin forwarded message:

Resent-From:
From: ""Rivkin, David""

Date: June 23, 2018 at 8:14:49 AM EDT

Subject: Fwd: Re:
Here it is.
Sent from my iPhone

Begin forwarded message:

From: ""Grossman, Andrew M"" {jaa

Date: June 23, 2018 at 12:56:55 AM EDT

Subject: Re:

Mueller’s Fruit of the Poisonous Tree

It makes no difference how honorable he 1s. His investigation 1s tainted by the bias that
attended its origin in 2016.

By

David B. Rivkin Jr. and

Elizabeth Price Foley

June 22, 2018 6:38 p.m. ET

414 COMMENTS

Special counsel Robert Mueller’s investigation may face a serious legal obstacle: It is tainted by
antecedent political bias. The June 14 report from Michael Horowitz, the Justice Department’s
inspector general, unearthed a pattern of anti-Trump bias by high-ranking officials at the Federal
Bureau of Investigation. Some of their communications, the report says, were “not only indicative of a
biased state of mind but imply a willingness to take action to impact a presidential candidate’s electoral

prospects.” Although Mr. Horowitz could not definitively ascertain whether this bias “directly

HOUSE_OVERSIGHT_026273
"
TEXT-001-HOUSE_OVERSIGHT_028765.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
Boris Nikolic 
5/7/2012 11:27:53 PM 
Jeffrey Epstein [jeeyacation@gmail.com] 
RE: FW: Tix for Jeffrey 
image001.jpg 
Please call me at 
My number is blocked and it does not go through when I am calling you 
From: Jeffrey Epstein [mailto:jeevacation@gmail.com] 
Sent: Monday, May 07, 2012 4:27 PM 
To: Boris Nikolic 
Subject: Re: FW: Tix for Jeffrey 
call me now 
On Mon, May 7, 2012 at 7:21 PM, Boris Nikolic wrote: 
It was not easy as people from LifeBall are very difficult. But I go it (they even now approved you - they 
needed to do a background check believe it or not! — as on that dinner will be president of Austria, Clinton etc) 
for two tickets — for you and your guest for a price that you do not need to buy a table (as they do not sell 
individual seats). 
Guy below is a good friend and he is a CEO of amFAR (amFAR has a joined dinner) — so he helped. 
The nice thing about these tickets is that they are the most VIP. It includes reception, dinner, gala and after all 
party access. 
I have the same ones (through Bill). 
I also got two additional for you but it turns out that they are not the same level so I reached to Kevin for help. 
The price is 2,500Euro per ticket (this is very reduced price as I think the regular one for this is 15K and it is 
hard to get it). They will need an email from someone from your office and name a your guest asap. 
The plan for for Vienna I am sending you with my next email! 
Boris 
From: Kevin Frost [mailto:_______________ 
Sent: Monday, May 07, 2012 6:39 AM 
HOUSE OVERSIGHT 028765 
To: Boris Nikolic 
Subject: Tix for Jeffrey 
Importance: High 
Boris: 
Here is the information sheet for Jeffrey to buy tickets. Tell him to use my name and the name of Magdalena 
Schuster on the email below. They've already approved him to buy tickets to Lifeball and the Gala dinner 
which happens right before the ball. I hope you guys are all planning to attend the dinner as well. You can tell 
your friend Jeffrey that he should buy the Mini car for me as a thank you. =) 
I'm getting in to Vienna on Friday afternoon. Let's get together on Friday night. 
See you soon, 
Kevin 
Kevin Robert Frost 
Chief Executive Officer 
amfAR, The Foundation for AIDS Research 
120 Wall Street, 13th Floor 
New York, NY 10005 
From: Magdalena Schuster [mailto 
Sent: Thursday, May 03, 2012 1:04 PM 
To: Kevin Frost 
Subject: AW: AW: NY plane 
Hi Kevin, 
attached please find an information sheet about the AIDS Solidarity Gala — I am sure Jeffrey will very much 
enjoy the Gala. 
I've also included the auction items at the Gala for your and Jeffrey's information. 
Let me know how I can be of further assistance. 
All the best, 
HOUSE OVERSIGHT 028766 
Lena 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 028767 
"
IMAGES-001-HOUSE_OVERSIGHT_010875.txt,"02:54:54

02:54:53

02:54:55

02:84:57

02:54:59

02:54:59

02:55:01

ON OM & WD

02:55:02

c<s]

02:55:03
02:55:03 10
ozssos 14
o2se0e 12
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02:55:09 14
02:55:09 15
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ozssis 19
ozssi7 20
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02:55:25 24
02:55:25 25

02:55:25
02:55:27
02:55:27
02:55:28
02:55:33
02:55:33

02:55:34

ont onnh WD =

02:55:34

wo

02:55:35
ozss3e 10
ozssae 14
025530 12
ozss30 13
ozssao 14
ozssa1 15
ozssaa 16
orssa3 17
ossas 18
ozsss2 19
o2sssa 20
o2se02 21
028603 22
028606 23
025610 24
028612 25

35 of 46 sheets

288

MR. SCAROLA: Excuse me. To the extent the
question calls for speculation, I object.

MR. SIMPSON: No. I'm asking for his state
of mind when he filed this document.

THE WITNESS: There's no doubt that --

MR. SCAROLA: So the question is: At the
time of the filing --

MR. SIMPSON: Please -- please don't coach
the witness.

MR. SCAROLA: No, I'm not coaching him. I
just want to understand the question. You're
asking what his state of mind was at the time of
filing?

MR. SIMPSON: Did he -- did he anticipate --

MR. SCAROLA: Because the other question was:

What do you -- what's your position today.

MR. SIMPSON: Mr. Scarola, really.

MR. SCAROLA: That's -- that's a different
question. So I just want to know which one
you're asking.

Do you want to know his state of mind then,
or his state of mind today?

MR. SIMPSON: I will take that as an
objection to the form of the question.

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400
289
BY MR. SIMPSON:
Q. Asof --
MR, SCAROLA: It's a request fora
clarification of an ambiguous question.
MR. SIMPSON: It's coaching the witness.
BY MR. SIMPSON:
Q. As of --
A. Yeah, I don't need any coaching. I mean...
Q. Let me ask the question.
As of December 30th -- that’s true -- as

of --
A. Right --
Q.  -- we agree that's coaching.
A. -- but that wasn’t coaching. That wasn't

coaching, so the suggestion that it’s coaching is -- is
not fair.

Q. Okay. We disagree.

As of December 30th, 2014, did you anticipate
that naming Prince Andrew in a public filing as having
abused Virginia Roberts would generate substantial
publicity?

A. ""Substantial"" is a debatable word, but
certainly, it's going to generate publicity, yes.
Publicity about the allegations.

Q. Yes. And -- and the allegations are that

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

02:56:15

02:56:19

02:56:19

02:56:21

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02:56:42

02:56:48

02:56:48

02:56:49

02:56:51

02:56:56

02:56:57

02:56:57

On nn bk WD =

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oon omh WN —

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290
Prince Andrew had sexually abused Virginia Roberts,

correct?

A. That was one of the allegations in here,
sure.

Q. And the allegations that Professor Dershowitz
had sexually abused Virginia Roberts, correct?

A. That's right. It was in a -- what we were --
what we were starting to document and allege here was
that terrible things that Epstein's criminal
organization had done.

Q. Let me refer you to page 6 --

A. Okay.

Q.  -- of your filing. It's the first full
paragraph.

A. Yep.

Q. I'm going to read it. ""Epstein also
trafficked Jane Doe Number 3 for sexual purposes to many
other powerful men.”

A. Okay.

Q. ""Including numerous prominent American
politicians, powerful business executives, foreign
presidents, a well-known prime minister, and other world
leaders. Jane -- Epstein required Jane Doe Number 3 to
describe the events that she had with these men so that
he could potentially blackmail them.""

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400
291
Did I read that correctly?

A. You did.

Q. With respect to blackmail, the ability to
blackmail, is that the same potential we talked about a
moment ago in your testimony?

A. Sure.

Q. And you're referring there to --

A. Roughly, yeah. I mean, if there's something
that you want clarified, go ahead and clarify it.

Q. I just -- I just wanted to make sure I
understand correctly that when you refer that -- to
Epstein requiring Virginia Roberts to describe these
events so that he could potentially blackmail them, what
you had in mind was, Epstein wanted to know what
Virginia Roberts did with these men so that he had the
ability to threaten to disclose it if they didn’t do
what he wanted them to do?

A. That was -- that was part of it, yes.

Q. And isn't it true you could have
accomplished -- in terms of furthering Virginia
Roberts's legal interests, you could have accomplished
exactly the same thing by saying Epstein also
trafficked ~- trafficked Jane Doe Number 3 for sexual
purposes to other well-known men, period?

A. No, I don't think so.

ESQUIRE DEPOSITION SOLUTIONS

(954) 331-4400
10/20/2015 01:08:15 PM

HOUSE_OVERSIGHT_010875
"
IMAGES-010-HOUSE_OVERSIGHT_028928.txt,"MARTIN G. WEINBERG, P.C.
ATTORNEY AT LAW

20 PARK PLAZA, SUITE 1000 EMAIL ADDRESSES:
BOSTON, MASSACHUSETTS 02116

a
NIGHT EMERGENCY:
April 24, 2015

Via Email and U.S. Mail
John Zucker

Assistant Legal Counsel
Office of Legal Counsel

77 W 66TH St, Room 1628
New York, NY 10023

Re: Good Morning America and Night Line interview with Jane Doe 3
Dear Mr. Zucker:

I represent Jeffrey Epstein. I have been informed by Producer James Hill that ABC
intends to air an interview, conducted by a Good Morning America co-host, of a woman known
in court papers as Jane Doe 3.’ I write to put you on notice that ABC’s publication of Jane Doe
3’s accusations is grossly negligent or worse. The accusations, many of which relate to my
client, relate to alleged conduct that occurred approximately 15 years ago. The current
accusations are simply reformatted and embellished echoes of previous allegations, which were
first made by Jane Doe 3 to tabloid publications in the United Kingdom in 2011 and which have
no independent news value. These allegations were then and remain now uncorroborated and
have been refuted or undermined by other, credible evidence. Indeed, a federal judge recently
refused to consider these allegations in pending litigation, finding them “immaterial and
impertinent”, while striking the allegations and denying Jane Doe 3s Motion to Join, See Jane
Doe 1 and 2 v. United States, 08-CV-80736-KAM (S.D. Fla.), Dkt 324 at 5. In addition, in that
very same litigation, Federal Bureau of Investigation Special Agent Timothy R. Slater filed a
declaration stating that when Jane Doe 3 was interviewed by the FBI in 2007 she refused to
cooperate with the investigation of Mr. Epstein declaring she wanted nothing to do with the
matter. For ABC to air these untested allegations on national television as “news” when Jane
Doe 3 intentionally declined eight years ago to subject these same allegations to verification by
the FBI would be grossly irresponsible and severely damaging to Mr. Epstein and others.

""Mr. Hill informed me that she was waiving whatever rights to anonymity she might assert but I will, because of
certain legal obligations, refer to her as Jane Doe 3.

HOUSE_OVERSIGHT_028928
"
IMAGES-005-HOUSE_OVERSIGHT_019145.txt,"RSON

he'd heard about in church.
those kids looked. The way
women. They were like zom-
4nd now, in America, Noel’s
ids.

him, at least.

ill strong at fifty, and lucky
alm Beach, he gets in to work
white compactor truck clean,
e runs hot and cold with the
with much less to do, he’s on
shift that would break a lesser
| gets even harder. The Estate
- of the parties have hundreds
ntains of refuse. That garbage
ty when requested. It's carried
ler the porte cocheres. Then it
to a landfill that the garbage-

+tion runs from the Everglades
he island. It encompasses Ban-
Vay, and El Brillo Way. His per-

far as the Palm Beach PD is
or the job.

h pull’ —a legal way to collect
>, evidence culled from Jeffrey

police call him, Noel St. Pierre

fugee boat has run aground on

reve

Firryy Ricu

the beach. A sad thing, but something that does happen from
time to time. His homeland, Haiti, is desperately poor. Run by
despots who line their pockets while everyday people suffer.

Many of the refugees are illiterate.

Most of them speak only Creole.

“Eske ou ka ede nou, souple,” they ask.

“Can you help us, please?”

The cops always need a translator, and Noel’s been asked to
help out before. But this time the police officer’s voice is raspy,
impatient.

“This time is different,” the officer says. “Something very
special. You don’t have to accept. But if you do, you'll have to
keep things to yourself, completely.”

When he hears what the story is, Noel accepts.

“Tll do it,” he says immediately.

The address he’s been given is 358 El Brillo Way. On his first
morning, St. Pierre moves swiftly, sneaking a glance through the
kitchen window at the four silhouettes standing inside. Three
women, one of them quite short, with pigtails.

The fourth silhouette is that of a tall man.

The police have given him clear instructions. The work is
unsavory, but so is the work Noel does every day. What the
detectives want from him now are slips of paper with phone
numbers, along with toothbrushes, condoms, discarded under-
wear. Anything that could provide DNA. He’s been told to use a
special truck on the El Brillo run. Whatever he finds he’s to put
aside in small trash bags he'll deliver directly to the station at the
end of every shift.

29

HOUSE_OVERSIGHT_019145
"
IMAGES-002-HOUSE_OVERSIGHT_013108.txt,"192 11 Stages of Cognitive Development

Finally, another limiting aspect of Piaget’s model is that it did not recognize any stages
beyond formal operations, and included no provisions for exploring this possibility. A mumber of
researchers [Bic88, Arl75, CRK82, Rie73, Mar01| have described one or more postformal stages.
Commons and colleagues have also proposed a task-based model which provides a framework for
explaining stage discrepancies across tasks and for generating new stages based on classification
of observed logical behaviors. [K1<90] promotes a statistical conception of stage, which provides a
good bridge between task-based and stage-based models of development, as statistical modeling
allows for stages to be roughly defined and analyzed based on collections of task behaviors.

[CRK&82] postulates the existence of a postformal stage by observing elevated levels of abstrac-
tion which, they argue, are not manifested in formal thought. [CTS~ 98] observes a postformal
stage when subjects become capable of analyzing and coordinating complex logical systems
with each other, creating metatheoretical supersystems. In our model, with the reflexive stage
of development, we expand this definition of metasystemic thinking to include the ability to
consciously refine one’s own mental states and formalisms of thinking. Such self-reflexive re-
finement is necessary for learning which would allow a mind to analytically devise entirely new
structures and methodologies for both formal and postformal thinking.

In spite of these various critiques and limitations, however, we have found Piaget’s ideas
very useful, and in Section 11.4 we will explore ways of defining them rigorously in the specific
context of CogPrime’s declarative knowledge store and probabilistic logic engine.

11.3.1 Perry’s Stages

Also relevant is William Perry’s [Per70, Per81] theory of the stages (“positions” in his terminol-
ogy) of intellectual and ethical development, which constitutes a model of iterative refinement
of approach in the developmental process of coming to intellectual and ethical maturity. These
stages, depicted in Table 11.2 form an analytical tool for discerning the modality of belief of
an intelligence by describing common cognitive approaches to handling the complexities of real
world ethical considerations.

11.3.2 Keeping Continuity in Mind

Continuity of mental stages, and the fact that a mind may appear to be in multiple stages
of development simultaneously (depending upon the tasks being tested), are crucial to our
theoretical formulations and we will touch upon them again here. Piaget attempted to address
continuity with the creation of transitional “half stages”. We prefer to observe that each stage
feeds into the other and the end of one stage and the beginning of the next blend together.

The distinction between formal and post-formal, for example, seems to “merely” be the
application of formal thought to oneself. However, the distinction between concrete and formal is
“merely” the buildup to higher levels of complexity of the classification, task decomposition, and
abstraction capabilities of the concrete stage. The stages represent general trends in ability on
a continuous curve of development, not discrete states of mind which are jumped-into quantum
style after enough “knowledge energy” builds-up to cause the transition.

HOUSE_OVERSIGHT_013108
"
TEXT-001-HOUSE_OVERSIGHT_031220.txt,"From: Barbro Ehnbom 
Sent: 1/20/2017 10:55:49 PM 
To: jeeyacation@gmail.com 
Subject: January 20, 2017 
Attachments: DSC_0192.JPG; DSC_0192.JPG 
Dearest Jeffrey, 
HAPPY HAPPY HAPPY HAPPY!!! 
AND, YOUR BIRTHDAY PRESENT IS.....PRESIDENT DONALD TRUMP!! HA HA! 
LOVE & KISSES 
BE for your BBB! 
Barbro C. Ehnbom 
Chairman, Swedish-American Life Science Summit 
HOUSE OVERSIGHT 031220 
"
TEXT-002-HOUSE_OVERSIGHT_032591.txt,"From: 
Sent: 
To: 
Subject: 
9/9/2017 4:35:57 PM 
jeffrey E. [jeeyacation@gmail.com] 
Re: 
Importance: High 
very well .. plz when you have a minute send me the date and the time .. i know the house by now Ii 
Sent from my iPhone 
On Sep 9, 2017, at 7:31 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
of course 
On Sat, Sep 9, 2017 at 6:30 PM, wrote: 
000 
are we meeting in new york? 
Sent from my iPhone 
On Sep 9, 2017, at 7:16 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
is this some sort of perverted question :) 12 american. of course 
On Sat, Sep 9, 2017 at 5:40 PM,___________________________wrote: 
what is your shoes size if you dont mind me asking? 
Sent from my iPhone 
On Sep 9, 2017, at 4:30 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
I think trump cut the legs off your guy. He would like to take all the credit. If there is a deal or be seen to be 
strong on terror 
On Sat, Sep 9, 2017 at 2:34 AM jeffrey E. <jeevacation@gmail.com> wrote: 
See you I in. Ew york thurs? 
On Fri, Sep 8, 2017 at 11:48 PM wrote: 
tamem just called mbs .. he want to sit and talk .. breakthrough 
Sent from my iPhone 
On Sep 8, 2017, at 1:33 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
I will get larson to call you 
On Fri, Sep 8, 2017 at 12:26 PM, ___________________________wrote: 
i will bring you some kuwaiti gifts but not food° 
Sent from my iPhone 
HOUSE OVERSIGHT 032591 
On Sep 8, 2017, at 11:52 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
what is your schedule in new york how long will you be there? 
On Fri, Sep 8, 2017 at 9:09 AM, wrote: 
things look very bad in the gulf.. my feeling trump do not want to end it 
Sent from my iPhone 
On Sep 8, 2017, at 2:28 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
your man did well. congragulations 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
HOUSE OVERSIGHT 032592 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 032593 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032594 
"
IMAGES-008-HOUSE_OVERSIGHT_026267.txt,"From: Sultan Bin Sulayem (i

Sent: 2/25/2018 1:25:58 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
Ok
Sent from my iPhone

On Feb 25, 2018, at 4:04 PM, jeffrey E. <jeevacation@gmail.com> wrote:

dont belive thepress

On Sun, Feb 25, 2018 at 6:42 AM, Sultan Bin Sulayem <q wrote:
Trump doesn’t like him

Sent from my iPhone

On Feb 25, 2018, at 3:36 PM, jeffrey E. <jeevacation@gmail.com> wrote:

Yes We have become friends you will like him

On Sun, Feb 25, 2018 at 6:36 AM Sultan Bin Sulayem qq wrote:
Is that Steve Bannon?

Sent from my iPhone

> On Feb 23, 2018, at 9:14 AM, Jeffrey Epstein <jeevacation@gmail.com> wrote:
>

> <IMG-7184.jpg>

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026267
"
IMAGES-001-HOUSE_OVERSIGHT_010861.txt,"232

234

ov4os7 1 are circled is, I would say, you know, 5 to 10 percent ovat 1) BY MR, SIMPSON:
oratvoa «6©2~—sOOf the -- of the names ball-parking in the dark. ona 2 Q. But based on your testimony previously, you
orang «3 Q. Do you know whether this address book was o14320 3 would consider all of those facts to be evidence that he
orator 4 Jeffrey Epstein's address book or Glenn Maxwell's oa26 4 may have been?
ovaitt 5 address book? oraaz2s «5 A. They are, you know, certainly things that I
oraz 6 A. I’mnot certain exactly whose book it is. I o14331 6 would want to follow up on.
oie 7 actually thought it was Alfredo Rodriguez maintaining a | o10332 7 QQ. And --
ois 8 copy of records in case he was worried that Epstein oraazs «8 A. If I were running an -- we were in the
o4122 9 might try to have him killed at some point, and so this oraa3e «9 «context, I take it, of your question, you know, if
014125 10 was his insurance policy, I think he said, against that oraa3e 10 somebody is running an investigation into the
ovai28 11 happening. ovaza2 11° organization, so...
orat2a 12 MR. SIMPSON: Object to the nonresponsive 014343 12 Q. ‘Did you, in the course of your representation
orat31 13 portion of the answer. o1aaa7 13° of Miss Roberts or any of the other Jane Doe clients you
ov431 14 BY MR. SIMPSON: oaass 14 have had who have had claims against Mr. Epstein, make
orarae 15 Q. Is the answer to my question: You don't know o143ss 15 any effort to find out whether Mr. Trump had abused any
ovaiaa 16 whether it was Jeffrey Epstein's or Glenn Maxwell's oraao2 16 of them?
oa33 17 address book? oraaog 17 MR. EDWARDS: I would just object to this
oraiza 18 A. Idon't know. And the reason I don't know orasca 18 being work-product privilege as it relates to
oa 19 that is because I actually believe it is neither -- orasi0 19 other cases that I’m working on with Paul that
oaiaa 20 neither of their -- that's -- is it one or the other? orvaaiz 20 Jack is not involved in.
ovi4s 21 Actually, I think it's a third possibility. I think onsar2 241 MR. SIMPSON: Okay.
oraiaa 22 this was Alfredo Rodriguez's insurance policy against oasis 22 MR. EDWARDS: With respect to what we did
o4zs1 23 getting knocked off by Jeffrey Epstein. oraate 23 during our investigation on behalf of other
orvaiss 24 Q. So that's the view you have of the oraeis 24 clients.
ora20s 25 — significance of this document? onesie 25 MR. SIMPSON: Okay.
ESQUIRE DEPOSITION SOLUTIONS ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400 (954) 331-4400
233 235
orazcs 1 A. Yes. In part. I mean, there are other arae20 4 MS. McCAWLEY: Right. And I object on that
o1az08 «32 «reasons it's significant, as we have been talking about, orag2o 2 to the extent that it reveals anything you did on
oto 3 names are circled who appear to have relevant ores 3 behalf of Virginia Roberts.
oa213 4 information on Jeffrey Epstein's criminal activities. oxaaza 4 MR. EDWARDS: I don't think Jack would know
onan = 5 Q. Donald Trump was a friend of Jeffrey Epstein; oraar2s 5 to object to this, but because I know of another
orazze 6 is that not correct? orasos = 6 case that we work on, that’s protected by our
ovanag 7 A. TIreally don't -- my understanding is, yes, oras30 | 7 work-product privilege, who I talked to and who I
oraz2s 8 but I -- I don't have a lot of information about Trump. orsas2 § did not.
arazza 9 Q. It's true also, is it not, that Mr. Trump was o14g32 9 THE WITNESS: I'd like to --
o4234 10 a frequent visitor to Mr. Epstein's residence? oraa32 10 MR. SCAROLA: In that case, I instruct you
ovazas 14 A. 1I-~I know that he visited frequent. I -- I oragsa 14 not to answer.
orazaa 12 don't have a lot of information about Trump. oraaza 12 THE WITNESS: All right.
oraraa 13 Q. And his name is circled in this book; is it oraz? 13 MR. SIMPSON: All right. You're here,
ovs2a7 14 not? oraa3o 14 Mr. Edwards, as a client, not an attorney,
orazar 15 A. I believe it is. orvaaar 15 correct?
orazss 16 Q. Based on him -- assuming he's a frequent oraaaa 16 MR. EDWARDS: Yes. That's my primary role in
oazs2 17 visitor to Mr. Epstein’s home, and that he's a friend of orvaaaa 17 being here, but I'm going to protect the
04300 18 Mr. Epstein's, and that his name is circled in this orsass 18 privilege to the extent that it’s not being
014303 19 book, do you infer that he was engaged in criminal orvaaar 19 protected by others who don't recognize that the
oraz0g 20 = sexual abuse of minors? orsaso 20 privilege needs to be protected on other matters.
orvaas 21 MS. McCAWLEY: I'm going to object to the oraase 24 MR. SIMPSON: Okay.
014313 22 extent that your answer would reveal anything oraass 22 BY MR. SIMPSON:
oan 23 that my client has told you. oases 2S Q. Mr. Cassell, as of December 30th of 2014,
orate 24 THE WITNESS: No. o14s03 24 were you aware that Professor Dershowitz had visited
oraarr 25 or4s09 25 Mr. Epstein's home and stayed as a guest for a week in
ESQUIRE DEPOSITION SOLUTIONS ESQUIRE DEPOSITION SOLUTIONS
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21 of 46 sheets Page 232 to 235 of 335 10/20/2015 01:08:15 PM

HOUSE_OVERSIGHT_010861
"
TEXT-001-HOUSE_OVERSIGHT_017581.txt,"From: 
Sent: 
To: 
Subject: 
11/28/2012 5:28:55 PM 
Jeffrey Epstein [jeeyacation@gmail.com] 
Re: Invite to Dialog 2014 (16 months away) 
Importance: High 
So let me understand. You are suggesting tourism? 
Sent from my Verizon Wireless BlackBerry 
From: Jeffrey Epstein <jeevacation@gmail.com> 
Date: Wed, 28 Nov 2012 11:28:51 -0500 
To: Lisa Randall 
Subject: Re: Invite to Dialog 2014 (16 months away) 
sundance is nice „ go 
On Wed, Nov 28, 2012 at 11:17 AM, Lisa Randall.___________ wrote: 
Is this worthwhile? 
--------Original Message-------- 
Subject: Invite to Dialog 2014 (16 months away) 
Date: Wed, 28 Nov 2012 08:05:58 -0800 
From: Auren Hoffman 
To: < 
Dear Fouad, 
Dear Lisa — 
You are invited to join us at Dialog 2014 -- a two-day bipartisan retreat discussing how to change the world. 
There will be no speeches ... just many moderated break-out discussions of 6-15 people on various topics. And 
we design the agenda around your ideas and needs. 
Please let us know if you would like to join us, 
/- Peter Thiel and Auren Hoffman/ 
p.s. and yes, we know Dialog 2014 is 16 months away, but we are giving you a chance to sign up now 
*DETAILS*: 
You're invited to join us at the Dialog Retreat ... 150 people to change the world ... a participatory and 
entrepreneurial conversation on changing the world. 
The *Dialog//*participants aren't modest. We want to change the world. 
But we don't want to spend our time being in a large audience listening to winded speeches. There are no 
speakers. No panels. All attendees participate in break-out facilitated discussions. And we *limit the discussion 
HOUSE OVERSIGHT 017581 
to only 150 global leaders*who can have an impact now and emerging leaders who can help implement the 
plans we develop. 
*Dates**:*March 13-15, 2014 
*Location:* Sundance Resort, Utah (40 minutes from the Salt Lake City airport) 
/We've rented out the entire resort/ 
Register at: 
http://dialog2014.eventbrite.com  
password: dialog2014 
You qualify for a significant discount on the retreat fee. On the registration page, click on the link that says 
'Enter promotional code' and enter: 
*AcademicDialoger* 
/note: the invite is only for Lisa Randall and is not transferable as we are limited to only 150 participants. 
There are no sponsors. We increase the retreat fee weekly to reward the people that sign up early. And this 
retreat is 100% off-the-record. / 
We hope you can join us. 
Dialog participants... 
/... partial list of people who will be participating in the 2013 Dialog Retreat (all are references): / 
*Veronica Allende Serra**— Founding Partner, Pacific Investments. Chm, Portal de Documentos. Boards: 
Allied Advanced Technologies, Wow! Nutrition, Mercado Libre, ISmart Foundation.* 
*Susan **Athey*-- Professor of Economics, Harvard University. Chief Economist, Microsoft. 2007 Winner of 
John Bates. Clark Medal. 
*Byron **Auguste*-- Director and Head of Social Sector Office, McKinsey & Co. Chm, Hope Street 
Group.Boards: William and Flora Hewlett Foundation; Pacific Council on International Policy; Center for 
American Progress. 
*David Barron*— Professor, Harvard Law School. Fmr Acting AsstU.S. Attorney General in the Office of 
Legal Counsel. 
*Kirsten Bartok*-- CEO, AirFinance. Fmr CFO of XOJet. Fmr GP at Alpine Investors. 
*Evan Bayh*— Sr Advisor, Apollo Management. Partner, McGuireWoods. Fmr U.S. Senator (D-IN) (1999-
2011). Fmr Governor of Indiana (1989-1997). Author, /From Father to Son/. 
*Tom Bedecarre*— CEO, AKQA. 
*Nick Beim*— GP, Matrix. Boards: Gilt Groupe, TheLadders, Care.com, Conductor, Intent Media, 
BuyWithMe. 
HOUSE OVERSIGHT 017582 
*Nicolas **Berggruen*-- President, Berggruen Holdings. 
*Charles Best*— CEO, DononrsChoose. 
*Elizabeth Blackburn*— Prof of Biology and Physiology, UCSF. 2009 Winner of Nobel Prize in Medicine. 
President, American Association of Cancer Research. 
*David Bonderman*— Founding Partner, Texas Pacific Group (TPG). Founding Partner, Newbridge Capital. 
Boards: Continental Airlines, Bowe Bell & Howell, Ducati Motorcycles, Credicom Asia, National Education 
Corp, Beringer Wine, Carr Reality, Virgin Cinemas, CoStar Group, GemAlto, RyanAir Holdings, Wilderness 
Society, World Wildlife Fund. 
*Jason Bordoff*— Senior Advisor for Energy and Environmental Policy to U.S. President Obama. 
*Erik Brynjolfsson*— Prof of Economics, MIT Sloan School of Management. Director, MIT Center for Digital 
Business. Chair, /MIT Sloan Management Review. / Author, /Race Against the Machine/. 
*John Burbank*— CEO, Passport Capital. 
*John Burbank*— President, Nielsen Strategic Initiatives. Fmr CEO of Online, Nielsen. Fmr CMO, Nielsen. 
Fmr CMO, AOL. 
*Leah Busque*— Founder, TaskRabbit. 
*Marc Cenedella*— CEO, TheLadders. 
*Stephen Cohen*— cofounder, Palantir. 
*Gio Colella *— CEO, Castlight Health. Fmr CEO, RelayHealth. 
*Mark Colodny*— Managing Director, Warburg Pincus. Boards: CAMP Systems, GlobalSpec, MLM 
Information, iParadigms, MultiView, A Place for Mom, EVIDON, eCert, Spigit, OnTargetJobs. 
*Boykin Curry*-- Managing Director, Eagle Capital. Creator of Playa Grande. Cofndr, Girls Prep. Boards: 
Alliance for School Choice, Democrats for Education Reform. 
*Adam D'Angelo*— CEO, Quora. Fmr CTO, Facebook. 
*Mitch Daniels **— President, Purdue University. Governor, State of Indiana (2005-2013). Fmr Director, 
Office of Management and Budget (2001-2003). * 
*Lanny Davis*-- FmrSpecial Counsel to the President (under Clinton).Author of Scandal and The Emerging 
Democratic Majority. 
*Ken Denman*— CEO, Machine Perception Technologies. Fmr CEO of Openwave. Fmr CEO of iPass (IPAS). 
Fmr CEO, AuraSery Communications. Fmr SVP Media0ne. National Markets. 
*Marc Ecko*— Chief Creative Officer, Marc Ecko Enterprises. Award-winning artist. 
*RP Eddy *— CEO, Ergo. Fmr Director, White House National Security Council. Fmr Chief of Staff to U.N. 
Ambassador Richard Holbrooke. Sr Fellow, Manhattan Institute. 
HOUSE OVERSIGHT 017583 
*Juan Enriquez*— CEO, Biotechonomy. Founding Director of the Life Sciences Project, Harvard Business 
School. Boards: Cabot Corp, Craig Venter Institute. Fmr CEO, Mexico City 's Urban Development 
Corporation. 
*Jeff Epstein*— fmr CFO, Oracle. Fmr CFO, DoubleClick. Fmr CFO, King World Productions. Boards: 
Priceline.com, Stanford University Hospital. 
*Niall Ferguson*— Prof History, Harvard. Author of /The World's Banker: The History of the House of 
Rothschild/,/The Cash Nexus/,/Empire, Colossus/,/The War of the World, The Ascent of Money/, and others. 
*Brad Garlinghouse*— CEO, YouSendIt. 
*Julius Genachowski*— Chairman, Federal Communications Commission (FCC). 
*Jared Genser*— MD, Persesus Strategies. Founder, Freedom Now. International lawyer for Aung San Suu 
Kyi. 
*Jeff George*— Global Head, Sandoz. Member of Exec Committee, Novartis. 
*Dave Goldberg*— CEO, SurveyMonkey. 
*Tom Goldstein*-- Partner, Goldstein & Howe. Fmr Partner and head of Supreme Court practice, Akin Gump. 
Has argued over 20 cases before Supreme Court. CEO, SCOTUSblog. 
*Fabrice **Grinda*-- CEO, OLX. Fmr fndrand CEO, Zingy. Fmr CEO, Aucland. 
*Ash Gupta*— Chief Risk Officer, American Express. 
*Richard Haass*— President, Council on Foreign Relations. Fmr Director of Policy Planning, U.S. State 
Department. Fmr U.S. Special Envoy to Northern Ireland. 
*Victor Halberstadt*— Prof of Economics, Leiden University (Netherlands). Fmr President, International 
Institute of Public Finance. Mbr, Investment Committee, ABP Pension Fund. Boards: RHJ Internationall. 
*Janet Hanson*— CEO, 85Broads. 
*Hollie Moore Haynes*— MD, Silver Lake Partners. 
*Bob Hertzberg*-- Chairman, G24 Innovations.Partner, Mayer Brown Rowe & Maw. Fmr Speaker, California 
State Assembly (2000-2002). Fmr Regent, University of California. Fmr Chm, Mayor Antonio Villaraigosa 
transition team. Board: Solar Integrated Technologies (Chm), California Historical Society, MALDEF, Town 
Hall Los Angeles, Century Housing. 
*Jim Himes *— U.S. Congressman (D-CT). 
*Auren Hoffman*-- CEO of LiveRamp. Chm, Rapleaf. Curator, Dialog Retreat. Board: Retargeter. 
*Reid Hoffman*— Chairman and founder, LinkedIn. Partner, Greylock. Boards: DoSomething, Kiva, Endeavor 
Global, Mozilla. Zynga. 
*Jacob Hsu*— CEO, Symbio. 
HOUSE OVERSIGHT 017584 
*Daisuke Iwase*— cofounder and COO, Lifenet Insurance (top life insurance company in Japan). 
*Christian Johansson*— Secretary of Department of Business and Economic Development (DBED), State of 
Maryland. Fmr CEO, Economic Alliance of Greater Baltimore. 
*David Kamenetzky*— Group Head, Mars & Co. 
*PV **Kannan*— CEO, 24/7 Customer. 
*Andy **Karsner*— CEO, Manifest Energy. Fmr U.S. Asst Sec of Energy for Energy Efficiency and 
Renewable Energy (2005-2009). Fmr Managing Director, Enercorp. Boards: Applied Materials, Conservation 
International. 
*Garry Kasporov*— Fmr World Chess Champion. Chm, United Civil Front of Russia. 
*Neal **Katyal*— Partner, Hogan LoveIls. Fmr Acting Solicitor General for the United States (2010-2011). 
Professor of Law, Georgetown U. Lead counsel for the plaintiff in Supreme Court case Hamdan vs. Rumsfeld. 
*Terry Kawaja *— CEO, Luma Partners. 
*Juliette Kayyem*— Foreign Affairs Columnist, Boston Globe. Lecturer in Public Policy, Harvard. Asst Sec. 
for Intergovernmental Affairs, U.S. Dept. of Homeland Security. 
*Jeff Kearl*— Chm, SkullCandy. 
*Peter Kellner*-- MD, Richmond Management. Cofounder, Endeavor. Fmr partner, VectisGroup. 
*Chris Kelly*-- Fmr Chief Privacy Officer and Head of Global Public Policy at Facebook . Fmr Chief Privacy 
Office, Excite@Home. 
*Pradeep **Khosla*— Chancellor, UC San Diego. Fmr Dean of College of Engineering, Carnegie 
Mellon.Boards: Quantpoint, BioMatricore, BitArmor, Children's Institute, IIT Foundation, Mellon-Pitt Corp. 
*Charlie Kim*— CEO, NextJump. 
*David Kirkpatrick*— Author, /The Facebook Effect/. Fmr head technology writer, FORTUNE. 
*Henry Kravis*— Co-CEO of KKR. Chm, First Data. Boards: Claremont McKenna College, Metropolitan 
Museum of Art, Mount Sinai Medical Center, Council on Foreign Relations, Columbia Business School, 
Rockefeller University, others. Fmr Chair, Partnership for New York City. 
*Marie-Josee Kravis*— Boards: Publicis, LVMH. Boards: Memorial Sloan-Kettering Cancer Center, Robin 
Hood Foundation, Council on Foreign Relations, Qatar Museum Authority. President, Museum of Modern Art 
board of directors. Fmr Board: Ford, IAC, CIBC. 
*Will Lansing*— CEO, FICO (NYSE: FICO). Fmr CEO, InfoSpace. Fmr CEO, NBC Internet. Fmr COO, 
Prodigy Communications. 
*Renaud Laplanche*— CEO, Lending Club. 
*Laura and Gary Lauder*-- General Partners, Lauder Partners. Cofndrs, Socrates Society. 
HOUSE OVERSIGHT 017585 
*Jenna Lee*— Anchor, Fox News. Host, /Happening Now/ on Fox News. 
*Jorge Lemann*— Fmr Owner, AmBev (largest brewery in Latin America) and now one of the largest 
shareholders in Anheuser-Busch InBev. Boards: Lojas Americanas, Gillette, Swiss Re, Burger King. 
*Max Levchin*— fmr CEO, Slide. Fmr co-founder, PayPal. 
*Jonathan Levin*— Prof and Chair of Dept of Economics, Stanford. 2011 Winner of the John Bates Clark 
Medal. 
*Ann Lewis *— President, NoLimits. Fmr Director of Communications to the U.S. President (1997-2000). 
*Rob LoCasio*— CEO, LivePerson (NASDAQ: LSPN). 
*Jeremy Liew*— GP, LightSpeed Venture Partners. Investor in: Bonobos, CarDomain, Flixster, Focus, Kixeye, 
Kongregate, LivingSocial, Playdom, RockYou, ShoeDazzle, and others. 
*Joe Lonsdale*— CEO, Adepar. cofounder, Palantir. 
*Doreen Lorenzo *— President, Frog Design. 
*Bob **Luskin*-- Partner and Co-Chair of Litigation Dept, Patton Boggs.Attorney to Karl Rove and Lance 
Armstrong. Fmr Chief Counsel to the Organized Crime & Racketeering Section of DOJ. 
*Jorn Lyseggen*— CEO of Meltwater. 
*John Maeda*— President, Rhode Island School of Design. Author, /Laws of Simplicity./ 
*Divesh Makan*— CEO, Iconiq Capital. 
*Meyer **Malka**— co-CEO, Lemon. * 
*Andy McAfee*— Principal Research Scientist at the Center for Digital Business, MIT. Author of /Race 
Against the Machine. / 
*General Stan **McChrystal**— Ret. 4-star U.S. General. Led all U.S. forces in Afghanistan. *Fmr 
Commander, Joint Special Operations Command.*Current Principal, *McChrystal*Group. Sr. Fellow, Yale's 
Jackson Institute for Global Affairs.* 
*Andrew McLaughlin**— Fmr VP, Tumblr. Fmr Deputy CTO of the United States, White House. Fmr Dir of 
Public Policy, Google. Boards: Public Knowledge, Code for America. * 
*Dmitri **Mehlhorn**— COO, *StudentsFirst*.* 
*Lenny **Mendonca*-- Director, McKinsey. Head of McKinsey's strategy practice. Chm, McKinsey Global 
Institute. Chm, Bay Area Council. Board: McKinsey & Co, Economic Institute of the Bay Area, Bay Area 
Science and Innovation Consortium, The New America Foundation, Common Cause, Committee for 
Economic Development, ChildrenNow, and DonorsChoose. 
*Eugene Meyer*— President, Federalist Society. 
HOUSE OVERSIGHT 017586 
*Chris Michel**— GP, Nautilus Ventures. Award-winning photographer. *Fmr*CEO, Affinity Labs. 
*Fmr*CEO, Military.com. Boards: International Data Group, Dale Carnegie, *Kixeye*, *Castlight*Health, 
USO, *Marine*Corps University Foundation. * 
*Katie Mitic **— Fmr Head of Platform Marketing, Facebook. Fmr SVP, Palm. Fmr VP Product Strategy, 
Yahoo! Fmr Fndr and CEO, Four11. Boards: eBay, Special Olympics International. * 
*Wes Moore*-- Author, ""The Other Wes Moore"". Fmr. Special Assistant to Secretary of State Rice. Fmr 
Director of Information Operations, 82nd Airborne Division, US Army, Afghanistan 2005-2006. 
*Nader Mousavizadeh*— CEO of Oxford Analytica. 
*Luke Muehlhauser*— Exec Director, Singularity University. 
*Matt Mullenweg *— Founder, Wordpress. 
*Roger Myerson*-- Prof of Economics, U of Chicago. 2007 winner of Nobel Prize in Economics. 
*Scott Nathan*— Partner, Baupost Group. 
*Meghan O'Sullivan*-- Professor, Harvard Kennedy School of Govt. Fmr Deputy National Security Advisor 
for Iraq and Afghanistan, President George W. Bush. Mbr, Trilateral Commission. 
*Chamath **Palihapitiya*— CEO, Social+Capital. fmr VP Growth, Mobile, and International at Facebook. Fmr 
GM of AIM at AOL. Boards: SecondMarket, FixYa, Lemon, Integrated Plasmonics. Co-Owner, Golden State 
Warriors. 
*Eli **Pariser**—*Fmr President, Move0n.Cofndr, Avaaz.org. Boards: Move0n, Avaaz, New Organizing 
Institute and Simon's Rock College. 
*Mark Penn*— Corp VP of Strategic Projects (reports to the CEO), Microsoft. Fmr CEO, Burson-Marsteller. 
President, of polling firm Penn, Schoen and BerlandAssociates. Fmr Chief Strategist, Hillary Clinton for 
President 2008. Author, Microtrends. Fmr pollster to President Clinton. Fmr pollster to Prime Minister Tony 
Blair. 
*Lois Quam*— Executive Director, Global Health Initiative — part of the State Department and she reports 
directly to Secretary Clinton. Fmr CEO of Public and Senior Markets, UnitedHealth Group ($30 billion 
division). 
*Dan Rosensweig *— CEO, Chegg. Fmr CEO, Guitar Hero. Fmr COO, Yahoo. 
*Robert Rubin*— Co-Chairman, Council on Foreign Relations. Fmr U.S. Secretary of the Treasury (1995-
1999). Fmr Director, National Economic Council (1993-1995). Chm, Local Initiatives Support Corporation 
(LISC). Fmr Co-Chairman, Goldman Sachs. 
*Sal Russo*— Founder, Tea Party Express. Partner, Russo Marsh. 
*Tod Sacerdoti*— CEO, BrightRoll. Board: ReTargeter. 
*Amy Salzhauer *— CEO, Ignition. 
*Cami Samuels*— General Partner, Versant Ventures. Boards: Achaogen, APT Pharmaceuticals, Kythera 
HOUSE OVERSIGHT 017587 
Biopharmaceuticals, Semprae Laboratories. 
*Ken Sawyer*-- CEO, Saints Ventures (manages over $1 billion in capital). Selected to Forbes Midas List. 
Boards: Continuous Computing, HK Systems, Cleargauge, Travel Intelligence, Envivio, Alliance Consulting, 
Acsis and Laureate Pharmaceuticals. 
*Jessica Schell*— EVP BD and Strategic Planning, Universal Pictures. Fmr SVP Digital Strategy and Business 
Development, NBC Universal. Board: World Wide Biggies. 
*Barry Silbert *— CEO of SecondMarket. 
*Josh Silverman*— President of US Consumer Services, American Express. Fmr CEO, Skype. Fmr CEO, 
Shopping.com. Fmr CEO and Fndr, eVite. 
*Sukhinder Singh Cassidy*— Chm, JOYUS. Fmr CEO, Polyvore. Fmr President of Asia Pacific and Latin 
America, Google. Boards: TripAdvisor (TRIP) and Formspring. 
*Megan Smith*— VP Business Development, Google. Fmr CEO, PlanetOut. 
*Charles **Songhurst*-- GM and Head of Strategy and M&A, Microsoft. MD, Katana Capital. 
*Angelo Sotira*— CEO, DeviantArt. 
*Bret Stephens*-- Member of Editorial Board, Wall Street Journal. Main Foreign Affairs Columnist, Wall 
Street Journal. Fmr Editor-in-Chief, Jerusalem Post. 
*Simon Stevens*— EVP, UnitedHealth Group. Fmr CEO, Ovations (revenues of $31 billion). Fmr Health 
Policy Director to British Prime Minister Tony Blair. 
*Henry Sweica*— CEO, Talpion Fund Management. Fmr co-founder, Highbridge Capital Management. 
*Alexander Tamas*- Partner, DST. Boards: Forticom, mail.ru  
*Peter Thiel*-- CEO of Thiel Capital. Managing Director, Founders Fund. Fmr founder and CEO of PayPal. 
Boards: Facebook and Palantir. 
*Steve Wayne *— CEO, Jensen Group. 
*Will Wechsler*— Deputy Asst. Sec of Defense for Counternarcotics and Global Threats. 
*Adam Weiss**— co-CEO, Scout Capital. * 
*Katharine Weymouth**— Publisher, Washington Post.* 
*Michael Wolf*— CEO, Activate. fmr President and COO, MTV Networks. Fmr Prtnr, McKinsey. Former 
Senior Partner, Booz Allen & Hamilton. 
*Paul Wolpe*— Director, Center of Ethics. Prof of Bioethics, Emory. Sr Bioethicist, NASA. Co-Editor, 
American Journal of Bioethics. 
*Jed York*— CEO of San Francisco 49ers. 
HOUSE OVERSIGHT 017588 
*Lauren Zalaznick*— Chairman, Entertainment & Digital Networks and Integrated Media, NBCUniversal. She 
oversees Bravo, Oxygen Media, Style, PBS Sprout, Telemundo, iVillage, Swirl, Daily Candy, and Fandango. 
*Eric Zinterhofer — *co-CEO, Searchlight Capital. Chm, Charter Communications. Fmr Sr Partner, Apollo 
Management. Boards: Central European Media Enterprises, Dish TV India. 
*Karl-Theodor zu Guttenberg*— fmr Minister of Defense, Germany. Fmr Minister of Economics and 
Technology, Germany. 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 017589 
"
IMAGES-003-HOUSE_OVERSIGHT_016439.txt,"“T’m not an investigator. My only job was to negotiate and try the case when it
comes to trial,” he said.

He nevertheless convinced Krischer that the girls would not be credible on the
witness stand, according to Reiter and Recarey.

The defense team’s investigators compiled dossiers on the victims in an effort to
show that Epstein’s accusers had troubled pasts.

Dershowitz met with Krischer and Recarey, sharing with them the results of an
investigation into one of the girls, described by Dershowitz as “an accomplished

drama student” who hurled profanities at his investigator at “a furious pace.”

HOUSE_OVERSIGHT_016439
"
IMAGES-003-HOUSE_OVERSIGHT_015130.txt,"In the meantime, | am, at long last, completely at peace with myself.
It has been worth all the struggle.

Postscript:

After “A Sneak Preview of Richard Nixon’ s Memoirs” was
published, syndicated columnist Liz Smith—who hadn’ t seen that
piece—wrote that H.R. Haldeman had been in the Oval Office with Nixon,
and that his trousers were down to his ankles. Hoping to smoke out the
truth, | retyped one page of the manuscript, inserting a phrase (shown in
italics) in this sentence: “When the incident was over, | simply returned to
my desk, and although the tension of vulnerability was still in the air and
my trousers were still around my ankles, we resumed our discussion as if
nothing had occurred.” | then photocopied the manuscript and sent it to
Liz Smith. | had assumed she would check with her source. Instead, she
wrote in her column that she had been fooled by me, implying that her
source had based that revelation on my article. Somehow my hoax on Liz
Smith backfired. | had become a victim of my own satirical prophecy.

In his memoirs, | had Nixon insisting that Watergate was a setup to
get rid of him as president. A decade later, Nixon himself made that claim
in a network television interview. Furthermore, Haldeman in his book, 7he

Ends of Power, would reveal that Nixon used code words when talking

HOUSE_OVERSIGHT_015130
"
IMAGES-012-HOUSE_OVERSIGHT_033247.txt,"From: ee

Sent: 9/6/2017 9:18:52 AM
To: Epstein Jeffrey [jeevacation@gmail.com]
Subject: Fwd: Disney CEO Bob Iger Calls DACA Decision 'Cruel' and 'Misguided'

Importance: — High

Hello Jeffrey
| understood very well that it is in the Congress's hands now;
But there are a lot of reactions

Début du message transféré :

Expédite ur:
Date: 6 septembre 2017 a 09:22:24 UTC+2
Destinataire: ""Queneudec, Stephane""

eee

Objet: Disney CEO Bob Iger Calls DACA Decision ‘Cruel’ and ‘Misguided’

Disney CEO Bob Iger Calls DACA Decision
‘Cruel’ and 'Misguided'

HOUSE_OVERSIGHT_033247
"
IMAGES-007-HOUSE_OVERSIGHT_024353.txt,"Table of Contents

TOLLESON, AZ INSPECTION AND RECONDITIONING CENTER LEASE

In December 2016, we entered into a lease agreement with Verde Investments Inc. (“Verde”), an affiliate of DriveTime, for an IRC in Tolleson,
Arizona. The lease commenced in February, 2017. In August 2018, we entered into an additional lease agreement with a coterminous initial term with
Verde for contiguous space to use in connection with such center, which began that same month. The leases expire in December 2031 subject to our right to
extend for four 5-year terms. Pursuant to the leases, we pay an initial base rent of $137.5 thousand per month, which is adjusted each year beginning on
January 1, 2018, and $57.1 thousand per month, which is adjusted each year beginning on January 1, 2020, respectively, each in accordance with the
Consumer Price Index, subject to a minimum increase of 2% per year and a maximum increase of 5% per year. Total expense related to these lease
agreements was approximately $2.2 million for the year ended December 31, 2018.

WINDER, GA INSPECTION AND RECONDITIONING CENTER LEASE

In February 2017, we entered into a lease with DriveTime for an IRC in Winder, Georgia where we have maintained partial occupancy
previously under the DriveTime lease agreement described above. We are now the sole occupant. The lease has an 8-year term, subject to our ability to
exercise three renewal option terms of five years each. We began paying base rent of $83.3 thousand per month as of March 1, 2017. The monthly rent is
subject to adjustment each year beginning January 1, 2018, increasing in an amount equal to the percentage increase in the Consumer Price Index, with a
maximum of 5% and a minimum of 2%. The monthly rent increased on January 1, 2018, to $85.1 thousand. Our total expenses related to this lease
agreement were approximately $1.1 million for the year ended December 31, 2018.

HUB LEASE AGREEMENT

In March 2017, we entered into a lease with DriveTime that governs our utilization of office space and parking spaces at retail facilities that we
use as hubs. The lease was most recently amended in December 2018. Under the lease agreement, we pay a monthly rental fee related to our pro rata
utilization of space at such facilities plus a pro rata share of each facility’s actual insurance costs and real estate taxes. Each hub has an initial cancellable
term of two years, subject to certain two consecutive one-year renewal options. Our total expenses related to this lease agreement were approximately
$0.4 million for the year ended December 31, 2018.

- 44 -

HOUSE_OVERSIGHT_024353
"
IMAGES-004-HOUSE_OVERSIGHT_017521.txt,"ara ana ons WNP

INO PE NO UE NO NOE OE NO i a
Ow wnrF OW OTHE BWDHHE COW

rFPoOowWwWmnA DO SB WN FE

oe

t
Ww DR

NNMNNNNNPFPFPRP EP RP RF EB
Oe WrhyrPreowwmnonnrntA nan uw

of a single deposition, or the propounding of any
discovery in the Epstein cases. Do you have any i
reason to doubt the accuracy of that testimony?

A. No, sir,

Q. l_want you. to assume that Brad has or will
testify that you did not provide any input whatsoever
into the handling of the Jegitimate Epstein cases. Do
you have any reason whatsoever to doubt the accuracy
of that testimony?

A. No, sir.

Q. |] want you to assume that Brad has or will
2 ENE YOU 10 eee at 2rd he we

testify that you never met any of the legitimate
plaintiffs in the Epstein cases. Do you _have a

reason to doubt the accuracy of that testimony?
A. No, sir.

MS. HADDAD: ]'m going to object to these
same questions you keep asking, because Mr. Rothstein
has testified at nauseam that he doesn't recal] any
of this and now you are asking him to bolster
Mr. Edwards’ either already given or purported 4
testimony when he's testified he doesn't recall it. :
BY MR. SCAROLA: |

Q. | want you to assume that Brad has or will

testify under oath that you never asked him once to
report back to you on any factual matters repardi

Page 122

""

the Epstein case. Do you have any reason to doubt the

accuracy of that testimony?
A. No, sir.

Q. 1] want you to assume that Brad has testified
repeatedly that he had absolutely no involvement i in or
‘Knowledge of an ie il activity d
any other RRA la Do you have any 1 reason to doubt
the accuracy of that testimony?

A. No, sir.

Q. J want to talk to you briefly about your
personal perceptions of the significance of the
testimony that you are giving today. If Brad Edwards
had, in fact, been a participant in any of the illegal
‘activities that you have been questioned about at any
stage of this very lengthy deposition. and you

knowingly concealed Brad Edwards’ participation, what
do you understand the personal consequences to be as a
conset q uence of your having knowingly concealed Brad

Edwards participation?

A. I'l] be violating my agreement with the
United States government and ] would run the risk of
dying in prison,

Q. If Brad Edwards, contrary to what you have
testified under oath and what Brad himself has

repeatedly said, knew about anything having to do with
Page 123

santero rast ES PRR cE TT GEN AN USOT SEN SASS SRA U HG SHAE ORR ARR OB PEND Ea

seater emcee

conseUenees of that false testimony to be to be?

A. J'll be violating my agreement with the
United States government and ] would run the risk of.
dying in prison,

MR. SCAROLA: Thank you. | don't have any
further questions.

THE WITNESS: Thank you, sir.

MR. NURIK: Mark, 1 don't know what your
time frame is on your hitigation, but the ability to
receive the transcript, review it and prepare an
errata sheet within what is normally the time
allotted under the court rules cannot be accomplished
in this case.

MR. GOLDBERGER: How much time are you
generally --

MR. NURIK: | don't know.

Actually, the first set of errata sheets
have just been prepared and finalized for the first
deposition in December. I'm not suggesting it will
take that long this time, but if you can give me an
idea of what your time responsibilities are with the
court, what the time limits are --

Page 124

moreno

MR. GOLDBERGER: Do you think it will be
less than a month, two months?

MR. NURIK: J don't think it will be jess
than a month. First of all, a lot depends on the
ability to get the transcript to him to review.

MR. GOLDBERGER: Right.

MR. NURIK: And that's a whole procedure,
it's not normal circumstances that we are dealing
with.

MR. GOLDBERGER: If time becomes an issue,
we'll approach you and ask you to expedite.

MR. SCAROLA: Mark, ] will tell that from
our perspective time is an issue.

MR. NURIK: Have at it then, Jack. Do what
you need to do to get it done.

MR. SCAROLA: There is a long pending
motion for summary judgment on Brad’s behalf that has
been delayed for purposes of taking this deposition.
We are very anxious to be able to call that motion
for summary judgment up for hearing, so whatever can
be done reasonably to expedite the preparation of
this portion of this transcript would be appreciated.

We understand there are limitations beyond your
control, but to the extent you can do it, that would
be helpful. Thank you.
Page 125

32 (Pages 122 to 125)

FRIEDMAN, LOMBARDI & OLSON

305-371-6677

5ed93085-0554-447f-bcdd-ca2d8fe941 df

HOUSE_OVERSIGHT_017521
"
IMAGES-011-HOUSE_OVERSIGHT_031830.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 2/6/2011 1:27:43 PM
To:
Subject: Re: You should see this movie/documentary

Attachments: image001.jpg

it is very unfair, and misrepresents tons of inf

On Sun, Feb 6, 2011 at 3:26 AM, + wrote:

Inside Job (2010)

NYT Critics' Pick; This movie has been designated a Critic's Pick by the film reviewers of The New York Times.

Sony Pictures Classics

Henry Paulson, Ben Bernanke and Timothy Geithner in the documentary “Inside Job.”

Who Maimed the Economy, and How

By A. O. SCOTT
“Inside Job,” a sleek, briskly paced film whose title suggests a heist movie, is the story of a crime without
punishment, of an outrage that has so far largely escaped legal sanction and societal stigma. The betrayal
of public trust and collective values that Mr. Ferguson chronicles was far more brazen and damaging than

the adultery in Nathaniel Hawthorne’s novel, which treated Hester more as scapegoat than villain.

The gist of this movie, which begins in a mood of calm reflection and grows angrier and more incredulous
as it goes on, is unmistakably punitive. The density of information and the complexity of the subject
matter make “Inside Job” feel like a classroom lecture at times, but by the end Mr. Ferguson has
summoned the scourging moral force of a pulpit-shaking sermon. That he delivers it with rigor, restraint

and good humor makes his case all the more devastating.

HOUSE_OVERSIGHT_031830
"
IMAGES-007-HOUSE_OVERSIGHT_022722.txt,"Here’s the narrative: the shadowy rich man, friend of the louche and
disgraced President, at all times surrounded by a retinue of gorgeous
retainers doing his bidding, is now found to have gathered a network of
wrong-side-of-the-tracks Palm Beach girls to provide him with weird sexual
services. (It somehow reads weirder that he doesn’t have sex with them.) To
boot, his former girl friend, Ghislaine Maxwell the daughter of the
disgraced Robert Maxwell—encouraged at least one of the girls to come to
Epstein’s home (and forever more has become a fixture of further weird
possibilities in this tale).

Palm Beach Police Chief Michael Reiter is reported to say: “This is
bigger than Rush Limbaugh,” who, in a storm of publicity, has just been
arrested in Palm Beach for possession of controlled drugs.

On one side are some of the nation’s most powerful defense attorneys
(who, increasingly, seem more stumblebum than effective), on the other side,
a round-up of hapless girls, with sensational tales of perversion and infamy
(in the telling they are not so much sex workers, as Dickensian victims),
relatively speaking giving the Palm Beach authorities the choice between
utter capitulation to the powerful or standing on the side of the exploited and
powerless.

Still, with a critical eye, it also quite appears to be a straightforward
tale of prostitution (however more or less kinky). And even though some of
the girls are minors, age is not a distinguishing factor in a prostitution charge
in Florida, nor in most places (in New York, for instance, at this time
soliciting sex with anyone over the age of 14 is a class D misdemeanor
calling for a $100 fine).

In fact, Saige Gonzales told the police that she lied about being 18
because otherwise she knew she would not have been admitted to the house.

The local sex crimes prosecutor, Lana Belhalevic, interviews the girls
and determines that the offense is solely related to prostitution—that there
are no innocent victims.

Dershowitz rejects a series of lower-level plea deals and Palm Beach
District Attorney Barry Krischer takes the unusual step of empanelling a
grand jury, which returns with a recommendation of a single count of
soliciting a prostitute—a charge without jail time. (And Epstein can apply to
have his record expunged after a year.)

At which point, Reiter, the police chief, at odds with the District
Attorney’s office, recruits the involvement of the FBI. This is of course the
Bush-era FBI and Epstein presents quite the Clinton-connected scandal. Still,
solicitation, even of a minor, is not a federal crime. The FBI hits on the novel

HOUSE_OVERSIGHT_022722
"
IMAGES-009-HOUSE_OVERSIGHT_027530.txt,"Is Invitation: No

GUID: 97882D24-1625-41A5-9E17-8B3766AAFD22

Message: But in general I'm surprisingly relaxed. I feel I'm doing the right thing. And
there is a powerful positive reaction from people.

Sender: e:jeeitunes@gmail.com

Time: 11/22/18 04:26:26 AM (564582386)
Flags: 1085445
Is Read: No

Is Invitation: No

£

GUID: 03D

©,

ESFS-2F7E-472A-BBD9-5B2046BEA97C

Message: Im not surprised. , L think your position is just. It is the explanation
of it that needs tailoring. Ie Not on the table youre on the menu, is too flippant
You know your country. It wants to appear strong. Hiding from attending
ngenders the opposite I think you can make a great case that attending strengthens
the country s hand. Hiding , running away from the issue , shows weakness and brings
more trouble.

Sender: i iy

Time: 11/22/18 04:28:04 AM (564582484)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 86F57A62-5CD3-43AB-AE61-66226A93F9D0

Message: Yes, you are right. I will stress that more.

Sender: e:jeeitunes@gmail.com

Time: 11/22/18 04:32:51 AM (564582771)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 48315F16-0022-4765-A539-D23788F1D8AC

Message: "" Slovaks don't run and hide . We stand tall and say ...... We don't agree
Or nyet. Or Slovakia must decide what is good for Slovakia . Fun

Time: 11/22/18 04:34:50 AM (564582890)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: COA013CE-4526-46AA-9C70-61ECF17E8E30

r

Message: Fun:)

sender:

Time: 11/22/18 04:35:22 AM (564582922)

HOUSE_OVERSIGHT_027530
"
IMAGES-006-HOUSE_OVERSIGHT_021662.txt,"2

ras)
nn
~
al
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Default Contract Code m3
CALL DETAIL RECORDS - I e
All Facilities i
06/30/08 TO 10/10/08: INMATE PHONECALLSTO[ on
Originating Number Dialed Type Term Dest Reeorder
Date Pickup Connect Accept Stop Phone# CC Number = Facility Locatfon Minutes Code Code Code Channel Acct. No. on
200809123 ED213 282d RARGR ash Sad 1 ‘phsdt = USB 2 2 128 6 ; | s
20080023 L128 kF2S2 AAAS 75259 l pbsit U63A 2 2 128 6 oO
024° 19:55:53 1HS61S = 1S7SE—$9:59-01 t pbalt U63A 2. 2 «28 6 3
@-.. LSOlstt 18:01:32 18:02:48 «18:69:09 I pbsOt U63A F 2 128 6 ie
0077 08:57 O8:5732 859225 i phsft U63A 0 2 128 6 ai
2008/00/29 08:07:24 «08:07:50 © OR:G%0S 08: 12:52 i pbs0t U63A 4 2 128 6 ;
2008030  EG:SELI = LG:3EI9 16:32:54 164028 i post U§3A 8 2 128 6 |
2008/0930 17:02:03 17:02:25 «17:03:39 17:07:12 L pbs0t UB3A 4 2 = (28 6 ;
20080930 = UHIS56 «1716222 IERST- 17:23:29 f pbstit usa 6 2 (12a 6. i
2008/10/01 18:04:42 18:05:03 = 18OG29 = «18:07:03 { posOt U63A ot 2 = 128 6
2008/1004 = 9:55 OHTA O9: fst 5 I pbsdt U63A 5) 2 wm - 6
2008/10/04 = 12:56:40 = 12:57:02 12:58:29 13:07:36 posOt UGA (a 2 128 6
2OOTOD4 = 131606 ABEGZG —KAMAD —13:284Z I pbs0t U63A Ho 2 «428 6 j
20081004 = 15:29°38 = 13:30:01 13D? 13:35:08 { pbstt U63A 4 2 «(128 6
2OORO/4 = LG1O:27 = LG NOSL (GANT GEOL t pbstt T20A-2 1 2 128 6. ! a
2OGLO4 = —«18:22:37 18:22:58 18:24:24 18:24:55 i pbsit U63A 1 2 128 6 td
ZOOROOS «12:30:28 = 2:30:49 OF =: 2:35:26 ! pst  UB3BA 4. 2 (28 6 wn
2O0ROOS «13:84:05 19:84:26 B1SO 13164 t posit U63A — L 2 (128 6 ‘
2OOR/IOOS «16:24:42 16:25:02 16:26:18 16:34:05 i pbs0t U63A. 8 2 128 .. 6 ;
2008007 =: 1742S «1742298 17:44:36 ) posit T20A-2 0 2 @ 6 4
ZOOMIWOS LENS 16s 15:32 ; 1G t6:21 1 | pbstt. ‘T20A-2- D- 2 128: | 6. | r
SiO0S = 16:18:23 GS 16ZODE 66:21:23 1 pbs0t U62A 2 2 128 6 5
Gi: LESEIS « 17:SE4O 19:52:56 -£7:53:35- I -posdt =. T20A-2 ois (20 Wa 6 H =
BOOS §=§=17S400 = LAS4:2L 17:56:02 l phsOt T20A-2 0 2 90 6 =
2008/10/08. L7S7tS C7377 15852 18:02:48 \ pbsOt T20A-2 4 2 (12 6
2OOS/1O08 «19:49:49 9:50:10 19:51:27 156221 t posOt U63A 5 2 128 6
END OF DETAIL
-
a
™7
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: ~
20090 12:03:15 Form: ING04WES Version: 1.000 Ge Page 3 Ss

I
HOUSE_OVERSIGHT_021662

"
IMAGES-009-HOUSE_OVERSIGHT_027256.txt,"Message: Ok

Sender: e:jeeitunes@gmail.com

Time: 01/25/18 06:47:58 AM (538584478)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 5510E517-24AD-4395-A 1FA-74D25A9443F5
Message: I will send bill a message

Sender: a7

Time: 01/25/18 06:52:37 AM (538584757)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 34C5703E-F5F9-4A29-9CCE-AE43953F8E77
Message: Thx!

Sender: e:jeeitunes@gmail.com

Time: 01/25/18 07:52:23 AM (538588343)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: B73F55D6-3A3B-4562-9574-F2648ABDS59DF
Message: I tried

Sender: e:jeeitunes@gmail.com

Time: 01/25/18 12:58:29 PM (538606709)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 0B9CE783-9DC3-49A9-ADAB-9BE 1927FB525

Message: Jeff, thanks for asking. Really in a struggle for sure and trying to navigate out of heavy seas. It is a 24
hour ordeal. Get back to you in short while and see your advice. Thanks for asking. Morits

Sender: e:jeeitunes@gmail.com

Time: 01/25/18 12:59:02 PM (538606742)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 02134B09-E1B5-4984-8920-5 16586581541
Message: Two things . Apt and your health . Focus

HOUSE_OVERSIGHT_027256
"
IMAGES-003-HOUSE_OVERSIGHT_014548.txt,"It follows that if real GDP is understated, then
what appears to be a slow recovery is not as slow
as reported and what appears to be a period of low
productivity growth is not as low as reported.

We believe that the evidence favors the
mismeasurement argument. At a September 2016
Brookings Institution conference on productivity,
Martin Feldstein, Harvard professor and president
emeritus of the National Bureau of Economic
Research, also concluded that “the official statistics
substantially underestimate the real growth
of output” after studying the methods used to
measure price indices.°°

We point to three examples to illustrate the
mismeasurement argument. First, our colleagues in
Goldman Sachs’ Global Investment Research (GIR)
have pointed out that the official price indices for
information and communication technology show
an implausible gap between the price deflation in
computers and that in communications equipment,
software and other IT equipment (see Exhibit 14).
They question how “a given dollar outlay now
buys about 10 times as much computer in real
terms as 20 years ago, but it only buys about 10%
more software.”

Our colleagues’ conclusion that the
official price indices for the information and
communication technology sector are overstated
matches that of a 2015 study of microprocessor
pricing by David Byrne of the Federal Reserve
Board, Professor Stephen Oliner of UCLA, and
Sichel.** The trio created an index showing that
prices for microprocessor units used in desktop
personal computers declined by an average
annual rate of 43% between 2008 and 2013,
while the official Producer Price Index (PPI)
for these units declined by an average annual
rate of 8%—substantially mismeasuring the
real value created by this sector of information
technology equipment. They point out that
because microprocessor units represent about half
of US shipments of semiconductors, the rate of
innovation in this sector is inevitably mismeasured.

A second example of mismeasurement that we
can all readily appreciate involves the quality and
product improvements in smartphones. Hal Varian,
chief economist at Google and emeritus professor
at the University of California at Berkeley, has
estimated that globally, people took over 1.6
trillion photos in 2015 using their smartphones,
compared with 80 billion in 2000 using cameras
and film. The price of each photo taken has gone

Exhibit 14: US Technology Price Indices
The implausible gap with hardware suggests IT and
communication price indices are likely overstated.

Q1 1995 = 100
140

Software
----- Hardware (Computers and Peripherals)
120 Communications Equipment
Other IT Equipment 114

100 +=
Re
ry 90

so} %
60 ‘
40 N

20

0
1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015

Data through 2015.
Note: Other IT Equipment represents medical and non-medical equipment and instruments.
Source: Investment Strategy Group, Goldman Sachs Global Investment Research, Bureau of
Economic Analysis.

from 50 cents to zero for smartphone users; 1.6
trillion photos that would have contributed $800
billion to GDP have no impact on GDP in the
current framework. GDP has declined since camera
and film sales have fallen without a commensurate
quality adjustment for smartphones. Of course,
fewer photos would have been taken had the
smartphone not been developed, but the point

still stands.

Similarly, Varian shows that with the onset of
the commercial application of GPS technology,
productivity growth in trucking was twice the
aggregate US productivity growth, yet when GPS
functionality was added to smartphones basically
at no additional charge, GDP declined because
sales of stand-alone GPS systems fell.*4

Finally, a third example, also provided by
Varian, shows that, because GDP does not fully
count the export of intangibles such as software
and design, GDP is understated. He shows how an
iPhone manufactured by Foxconn in China using
parts from 28 countries and exported to France
has no direct impact on US GDP. Varian concludes
that in a global supply chain, US design and
software that is replicated outside the US through
offshore manufacturing and exported to a third
country never impacts US GDP measures directly,
particularly if the profits are not repatriated and
redeployed in the US.*

Our colleagues in GIR continue to estimate that
such mismeasurements lower reported annual real

Outlook | Investment Strategy Group 1S

HOUSE_OVERSIGHT_014548
"
IMAGES-009-HOUSE_OVERSIGHT_028165.txt,"/ BARAK / 31

Nava and I voted, we attended an event for Labor supporters north of Tel Aviv,
before flying to Beersheva to spend the final hours in the Negev. I’d arranged for
Shlomo Ben-Ami to go to Kiryat Shmona in the north — emphasizing, as
throughout the campaign, our determination to broaden our support beyond
Labor’s heartland. The polls closed at 10 o’clock. I knew Bibi would be staring at
the same Channel One newscast as I was, each of us ready to put the best spin on
things, especially if there was no clear sign at this stage which one of us had won.
But the exit poll findings came as a shock: Barak, of One Israel, 58.5 percent;
Netanyahu, Likud, 41.5 percent. It was a landslide.

The full impact hit me only when I got to the fifth-floor suite in the Dan Hotel
in Tel Aviv, our election-night headquarters. My three brothers, and Nava and our
daughters, were waiting for me. Leah Rabin, too. Our eyes teared up as we
embraced. My parents were by now too frail to come. But I’d promised to phone
them, whatever happened. “We did it,” I told my father, who said mazaltov with a
depth of feeling which had become rare as his health began to fail. My mother had
always been a bit conflicted about my going into politics, despite her lifelong
belief that the isswes of politics mattered, especially after Yitzhak had been cut
down and killed for following the path on which I hoped to continue. Still, I could
hear the pride, and relief, in her voice when I said: “Remember, ima. I did promise
you that if I ran, at least I'd make sure to win.”

When we’d finished speaking, Bibi called. He had conceded publicly as soon
as the exit poll was out. He had also stunned the Likud crowd by immediately
resigning as party leader. “Congratulations,” he said, sounding, more than
anything, tired. “I accept that the voters have spoken.” I thanked him for taking the
trouble to call. I said I appreciated the contribution he’d made to the country, and
that we’d meet in the next few days to discuss how best to handle the political
transition. “Thanks,” Bibi said. “And again, mazaltov.”

By the time I got off the phone with Bibi, the TV was showing pictures of tens
of thousands of people celebrating the results in the central Tel Aviv square, now
renamed in Rabin’s memory, where he had been murdered nearly four years
earlier. Before leaving to join them, I fielded a stream of calls: from friends, other
Israeli party leaders and leaders from abroad, including Tony Blair and Bill
Clinton, both of whom not only offered warm congratulations but said they looked
forward to working with me as I tried to move Israel forward and to finish the
work Yitzhak had begun.

317
HOUSE_OVERSIGHT_028165
"
IMAGES-006-HOUSE_OVERSIGHT_021104.txt,"¢ Nicholas Leiby has joined Weinberg Capital Group as director. He was
previously vice president at Resilience Capital Partners. www.weinbergcap.com

Fp rere ee [FSS ee | SEES | REFERS

Hees | HERG GEES) ES

Final Numbers

Fmt Mera din na geet

Reproduced from BP Energy Outlook 2018; Chart: Axios Visuals

en ne ee [re

HOUSE_OVERSIGHT_021104
"
TEXT-001-HOUSE_OVERSIGHT_025533.txt,"From: Sean Bannon 
Sent: 3/11/2018 8:08:31 PM 
To: jeffrey E. [jeevacation@gmail.com] 
CC: Steve Bannon 
Subject: Re: Filed: German Media Confess to Underestimating Steve Bannon; He Is 'As Dangerous as Ever' 
Importance: High 
Roger that. Thanks for having us today. 
Sent from my iPhone 
On Mar 11, 2018, at 9:03 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
Unfortunately I just spoke to one of the country leaders that we discussed„ I will fly there tomorw night 
now and then to new york wednesday night. sorry. will be in new york thurs and friday. we should lay 
out a strategy plan. . how much fun... travel safe. 
On Sun, Mar 11, 2018 at 8:47 PM, Steve Bannon < wrote: 
Pretty powerful 
On Mar 11, 2018, at 8:42 PM, jeffrey E. <jeevacation@gmail.cla> wrote: 
luv it 
On Sun, Mar 11, 2018 at 8:39 PM, Steve Bannon ‹> wrote: 
Germans get it 
Begin forwarded message: 
Resent-From: 
From: ""Thomas D. Williams"" < 
Date: March 11, 2018 at 5:13:03 PM GMT+1 
To: Raheem Kassam <_____________________________>,!111  Oliver Lane 
____________________ Alexander Marlow Frances Martel 
[i>, Adrienne Ross <Mill> 
Subject: Filed: German Media Confess to Underestimating Steve Bannon; He Is 'As Dangerous as 
Ever' 
German Media Confess to 
Underestimating Steve 
Bannon; He Is 'As Dangerous 
as Ever' 
HOUSE OVERSIGHT 025533 
by THOMAS D. WILLIAMS, PH.D.11 Mar 2018 
0 
As Steve Bannon continues his tour of Europe, energizing the anti-
establishment populist base, the mainstream media cannot help but 
admit their admiration for his abilities, despite their dislike of his aims. 
In this week's issue, the left-wing German weekly Stern articulates the greatest fear of the European 
establishment: that Bannon ""could give the fragmented right in Europe a common ideology and rhetoric."" 
Many thought that the reign of the ""Dark Lord"" had ended, writes Gernot Kramper, when Steve Bannon left 
first the White House and then his role as executive chairman of Breitbart News. It turns out, however, that 
Bannon's adversaries had underestimated him, because he is ""as dangerous as ever,"" he confesses. 
Kramper cannot conceal his respect for Bannon's ability to move a crowd. He was greeted by ""frenetic 
applause"" in his recent address before France's National Front party, Kramper writes, demonstrating his 
""impressive potential,"" which the writer describes as ""dangerous."" 
In the mind of his audience, Bannon is something of a miracle-worker, Stamper notes, having ""done the 
impossible"" by bringing Donald Trump into the White House. 
The reason Bannon is dangerous, Kramper continues, is because he ""lays out the political program of a 
worldwide right: He has already conquered the USA; now Europe and then the whole world will follow."" 
HOUSE OVERSIGHT 025534 
""You are part of a worldwide movement that is bigger than France, bigger than Italy, bigger than Hungary, 
bigger than all that,"" Bannon told French populists. 
Bannon showed that he ""dominates the mood against the 'elites,' the 'establishment' and the 'perverse 
system' of greedy corporations and banks, and of course also against the press, which is led around 'like a dog 
on the Leash,"" Stamper writes. 
And now he Mr. Bannon setting himself up as an instigator, if not an outright shepherd, of a movement that 
crosses borders, languages and parties. 
""Bannon is a master of apocalyptic rhetoric,"" Stamper continues, effortlessly weaving together nationalist 
interests with an international populist movement. 
The American strategist showed his ""true caliber"" by expounding modern methods of political freedom 
through blockchain technologies and cryptocurrencies, Stamper said, leaving many of his hearers behind. 
Bannon has demonstrated that if the right wants to rule the future, ""it must dominate modern themes and 
rhetorically position them,"" he added. 
Aspiring to be far more than an uncle who tells stories to his nephews of how he won the fight for the White 
House, Stamper writes, ""Bannon wants to become the super godfather of the international right."" 
Although Bannon often looks a bit disheveled, ""he should not be underestimated,"" the writer warns. Past 
business partners attribute impressive ""strategic foresight"" to the eccentric tactician, saying he was often 
""three or four steps ahead"" of his opponents in business. Because of his phenomenal memory, his nickname is 
""the encyclopedia,"" Stamper notes with a certain reverence, and in his speeches he will spontaneously cite 
""forgotten thinkers, known only to a handful of specialists."" 
""Bannon brings with him exclusive knowledge of power from the very heart of power,"" Stamper writes, 
which he will bring to bear on Europe's fragmented populist populism. 
According to Stamper, Bannon has established his ""European headquarters"" in Italy, from where he intends to 
galvanize European populists. 
The Italian political situation is completely to his liking, Stamper declares, with a political landscape 
""dominated by populists, right-wing ideologues and the political puppeteer Berlusconi."" 
Follow Thomas D. Williams on Twitter 
Read More Stories About: 
Big Government, Breitbart London, National Security, Europe, Germany, Nationalism, Populism, Stephen K. 
Bannon, Stern 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
HOUSE OVERSIGHT 025535 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 025536 
"
IMAGES-004-HOUSE_OVERSIGHT_017247.txt,"4.2.12
WC: 191694

I set to work on the capital punishment project but found no suggestion in the case law that any
court had ever considered the death penalty to be of questionable constitutionality. Just five years
earlier, Chief Justice Earl Warren had written in Trop v. Dulles (1958) that “whatever the
arguments may be against capital punishment, both on moral grounds and in terms of
accomplishing the purposes of punishment—and they are forceful—the death penalty has been
employed throughout our history, and, in a day when it is still widely accepted it cannot be said to
violate the constitutional concept of cruelty.”

I duly reported this to Justice Goldberg, suggesting that if even the liberal chief justice believed
that the death penalty was constitutional, what chance did he have of getting a serious hearing for
his view that the cruel and unusual punishment clause should now be construed to prohibit the
imposition of capital punishment? Justice Goldberg asked me to talk to Justice Brennan and see
what his views were. Unless Justice Brennan agreed to join, the entire project would be scuttled,
since Justice Goldberg, the Court’s rookie, did not want to “be out there alone,” against the chief
justice and the rest of the Court.

I had previously met Justice Brennan several times over the preceding few years, since his son,
Bill, was my classmate and moot-court partner at Yale Law School. I had also had lunch several
times with the justice and his friend Judge David Bazelon. But none of our discussions had been
substantive, and I nervously anticipated the task of discussing an important issue with one of my
judicial heroes.

I brought a rough draft of the memorandum I was working on to the meeting, but Justice Brennan
did not want to look at it then. He asked me to describe the results of my research to him,
promising to read the memorandum later. I stated the nascent constitutional case against the
death penalty as best I could. I told him that Weems v. United States could be read as recognizing
the following tests for whether punishment was “cruel and unusual”: (I) giving full weight to
reasonable legislative findings, a punishment is cruel and unusual if a less severe one can as
effectively achieve the permissible ends of punishment (that is, deterrence, isolation, rehabilitation,
or whatever the contemporary society considers the permissible objectives of punishment);

(2) regardless of its effectiveness in achieving the permissible ends of punishment, a punishment is
cruel and unusual if it offends the contemporary sense of decency (for example, torture); (3)
regardless of its effectiveness in achieving the permissible ends of punishment, a punishment is
cruel and unusual if the evil it produces is disproportionally

higher than the harm it seeks to prevent (for example, the death penalty for economic crimes).

In addition to these abstract formulations, I also told Justice Brennan that my research had
disclosed a widespread pattern of unequal application of the death penalty on racial grounds. I
cited national prison statistics showing that between 1937 and 1951, 233 Blacks were executed
for rape in the United States, while only 26 whites were executed for that crime, though Whites
committed many more rapes than Blacks.

Justice Brennan encouraged me to continue my research, without making any promise that he
would join any action by Justice Goldberg. Several weeks later, Justice Goldberg told me that

160

HOUSE_OVERSIGHT_017247
"
IMAGES-008-HOUSE_OVERSIGHT_025008.txt,"12

Assuming there is a veto, what would you gain by upgrading your
status in the General Assembly?

The advantage is that you can be a full member of UNESCO, the
International Court of Justice and the International Criminal Court,
and you may be able to hold Israel accountable.

So that's the plan if you fail in the Security Council?

We haven't decided yet beyond that. We would have to come back
and put the question to the leadership. There were nine ideas
presented about what to do if America vetoes. Was going to the
General Assembly discussed? Yes. Was throwing in the towel
discussed? Yes. Maybe we'll make a decision about that in the next
two weeks.

Throwing in the towel? You mean disbanding the Palestinian
Authority?

The Authority was born to transfer Palestinians from occupation to
independence. If Mr. [Benjamin] Netanyahu [the Israeli prime
minister] thinks he can make this Authority in name only while he is
the sole master and source of authority, he will sweat. If we get a
[U.S.] veto and Netanyahu continues to build the settlements, I would
suggest that Netanyahu study carefully the provisions of the Hague
Convention of 1907 and the Geneva Convention of 1949 which
specify the responsibilities of the occupying power.

If you fail in the Security Council and don't at least upgrade in

the General Assembly, won't you risk looking like a failure in the
eyes of Palestinians, particularly after all this buildup? Have you

HOUSE_OVERSIGHT_025008
"
IMAGES-004-HOUSE_OVERSIGHT_018174.txt,"four year, license agreement with Aetrex Worldwide, Inc. GTX Corp’s eight patents for the GPS
Shoe cover a GPS transceiver module that is placed within the footwear and transmission of
location coordinates to a central monitoring station which disseminates the location data through
the use of proprietary software, cellular connectivity, the GTX Corp middleware platform and the
secure viewing portal.

Read the full story - World Market Media

Wandering Soles

Aetrex Worldwide Inc. has teamed with GTX Corp. to create the Aetrex Ambulator GPS
Shoe, a therapeutic sneaker designed for people with Alzheimer’s disease. The shoe comes with a
tiny GPS tracker that alerts a caregiver when the wearer has strayed more than a set distance. It
then sends the caregiver a Google map link that plots the wearer’s location.

Read the full story

GTX And MNX — STAT Trax Critical Medical and Bio-Pharmas
SatNews - June 9, 2010 - GTX Corp (OTCBB: GTXO.OB), a provider in embedded GPS

tracking location based services and MNX (Midnite Express), a worldwide specialty courier, have
entered into an exclusive three-year contract for GTX to deliver thousands of highly customized,
industry-first GPS tracking devices. Additionally, the GTX Corp tracking platform to the shipping
company is included in the contract.

Read the full story

Find Friends and Family Mobile Apps

LOCiMOBILE [iPhone & Android]

LOCiMOBILE has a few great GPS tracking apps out at the moment. The two that I would like to
feature are the free/lite versions of the software. This app supports up to 6 users (paid version is
unlimited) and integrates with Twitter and Facebook. GPS Tracking populates your phone’s built-

in Google Maps with the locations of people in your private opt-in buddy list. You can let users

HOUSE_OVERSIGHT_018174
"
IMAGES-003-HOUSE_OVERSIGHT_015656.txt,"EXHIBIT A

HOUSE_OVERSIGHT_015656
"
IMAGES-012-HOUSE_OVERSIGHT_033521.txt,"Travel

Israel

Religion

——

HOUSE_OVERSIGHT_033521
"
IMAGES-007-HOUSE_OVERSIGHT_024435.txt,"YOUR EXAMINATION OF THE COMPANY, THE GENERAL PARTNER AND THE TERMS OF THIS
OFFERING, AND, IF GIVEN OR MADE, SUCH OTHER INFORMATION OR REPRESENTATIONS
SHOULD NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE COMPANY, THE GENERAL
PARTNER OR THE AGENTS.

THIS MEMORANDUM DOES NOT CONSTITUTE AN OFFER BY ANY PERSON TO SELL, OR A
SOLICITATION OF AN OFFER TO BUY, ANY UNITS OR COMPONENTS THEREOF IN ANY
JURISDICTION IN WHICH IT IS UNLAWFUL FOR SUCH PERSON TO MAKE SUCH AN OFFER OR
SOLICITATION.

THE UNITS AND COMPONENT SECURITIES OFFERED HEREBY HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OR THE SECURITIES LAWS OF THE STATES OR ANY NON-US.
JURISDICTION AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH STATE AND NON-US.
LAWS. THE UNITS HAVE NOT BEEN RECOMMENDED, APPROVED OR DISAPPROVED BY THE
U.S. SECURITIES AND EXCHANGE COMMISSION OR ANY OTHER FEDERAL, STATE OR NON-U.S.
SECURITIES COMMISSION OR REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING
AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE
ACCURACY OR ADEQUACY OF THIS MEMORANDUM. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.

NEITHER THE GENERAL PARTNER NOR THE COMPANY IS REQUIRED TO REGISTER OR BE
REGULATED AS A MUTUAL FUND UNDER THE MUTUAL FUNDS LAW (2003 REVISION) OF THE
CAYMAN ISLANDS. NEITHER THE CAYMAN ISLANDS MONETARY AUTHORITY NOR ANY OTHER
GOVERNMENTAL AUTHORITY IN THE CAYMAN ISLANDS HAS PASSED JUDGMENT UPON OR
APPROVED THE TERMS OR MERITS OF THIS DOCUMENT. THERE IS NO INVESTMENT
COMPENSATION SCHEME AVAILABLE TO INVESTORS IN THE CAYMAN ISLANDS.

PROSPECTIVE INVESTORS SHOULD READ THIS ENTIRE MEMORANDUM CAREFULLY BEFORE
DECIDING WHETHER TO PURCHASE THE UNITS, AND PROSPECTIVE INVESTORS SHOULD
MAKE THEIR OWN INVESTIGATION OF THE INVESTMENT DESCRIBED HEREIN, INCLUDING THE
MERITS AND RISKS INVOLVED AND THE LEGALITY AND TAX CONSEQUENCES OF SUCH AN
INVESTMENT. PROSPECTIVE INVESTORS ARE NOT TO CONSTRUE THIS MEMORANDUM OR ITS
CONTENTS AS LEGAL, TAX, INVESTMENT OR OTHER ADVICE. PROSPECTIVE INVESTORS WILL
HAVE THE OPPORTUNITY TO ASK QUESTIONS AND RECEIVE ANSWERS AND ADDITIONAL
INFORMATION ABOUT THE COMPANY, THE GENERAL PARTNER AND THE UNITS TO VERIFY THE
INFORMATION CONTAINED HEREIN TO THE EXTENT REPRESENTATIVES OF THE COMPANY
POSSESS SUCH INFORMATION. EACH INVESTOR SHOULD MAKE ITS OWN INQUIRIES AND
CONSULT ITS OWN ADVISORS CONCERNING THE VARIOUS LEGAL, TAX AND ECONOMIC
CONSIDERATIONS RELATING TO ITS INVESTMENT.

THIS MEMORANDUM DOES NOT CONTAIN THE INFORMATION, INCLUDING FINANCIAL
STATEMENTS, THAT WOULD BE INCLUDED IN A REGISTRATION STATEMENT FILED WITH THE
U.S. SECURITIES AND EXCHANGE COMMISSION.

THIS MEMORANDUM CONTAINS PROJECTIONS FOR KLC AND A?2 INC. THAT ARE BASED UPON
A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE PRESENTED WITH NUMERICAL
SPECIFICITY AND CONSIDERED REASONABLE BY MANAGEMENT WHEN TAKEN AS A WHOLE,
INHERENTLY ARE SUBJECT TO SIGNIFICANT BUSINESS, ECONOMIC, COMPETITIVE AND OTHER
RISKS, UNCERTAINTIES AND CONTINGENCIES, MANY OF WHICH ARE BEYOND THE CONTROL
OF THE COMPANY, AND ARE BASED UPON SPECIFIC ASSUMPTIONS WITH RESPECT TO FUTURE
BUSINESS DECISIONS, SOME OR ALL OF WHICH WILL CHANGE. PROJECTIONS ARE
NECESSARILY SPECULATIVE IN NATURE AND IT CAN BE EXPECTED THAT ASSUMPTIONS
UNDERLYING THE PROJECTIONS WILL NOT PROVE TO BE VALID OR WILL VARY FROM ACTUAL
RESULTS. ACCORDINGLY, THE PROJECTIONS ARE ONLY AN ESTIMATE. ACTUAL RESULTS WILL
VARY FROM THE PROJECTIONS AND THE VARIATIONS MAY BE MATERIAL. CONSEQUENTLY,
YOUR RECEIPT OF THE PROJECTIONS SHOULD NOT BE REGARDED AS A REPRESENTATION BY

HOUSE_OVERSIGHT_024435
"
IMAGES-002-HOUSE_OVERSIGHT_012570.txt,"TAB 17

HOUSE_OVERSIGHT_012570
"
IMAGES-010-HOUSE_OVERSIGHT_029388.txt,"e And the way to do it 1s this: a
strong, self-confident Israel, willing to
hold serious negotiations with the
Palestinians and the group of Arab
nations within an international
conference, backed by the US and the
Quartet — in order to achieve a two-
state solution and establish a regional
agreement, while maintaining an
unyielding and persistent fight against
terrorism and ensuring the IDF's
qualitative military edge over any
combination of opponents.

¢ The moderates among Arab
rulers are unable (and also unwilling)
to float this common interest and turn
it into policy — because they worry
how their people would respond. This
is how the Palestinian issue 1s related
to possibility of an overall agreement
in the Middle East.

HOUSE_OVERSIGHT_029388
"
IMAGES-002-HOUSE_OVERSIGHT_014101.txt,"Case 9:08-cv-80736-KAM Document 319-1 Entered on FLSD Docket 03/24/2015 Page 18 of
34

Defendant’s possession, custody, or control; is publicly available; is already in Plaintiffs’
possession, care, custody, or control; or is generally available to Plaintiffs.

6. Defendant generally objects to the Document Requests to the extent that the
information sought is not identified with sufficient particularity.

Te Defendant objects to the definition of “Documents” to the extent that it seeks the
production of things beyond the scope of Rule 1.280 of the Florida Rules of Civil Procedure.
Defendant further objects to the definition of “Documents” to the extent that it seeks “electronic
data as well as application metadata and system metadata” and “inventories and rosters of your
information technology (IT) systems — e.g., hardware, software and data, including but not
limited to network drawings, lists of computing devices (servicers, PCs, laptops, PDAs, cell
phones, with data storage and/or transmission features), programs, data maps and security tools

and protocols” as overly broad and unduly burdensome.

RESPONSES TO REQUESTS

1. Copies of any and all documents reflecting or relating to any and all occasions on which
you have been physically present on Little Saint James Island including but not limited to your
visit to Little Saint James Island, as described in paragraph 3 of the sworn Declaration of Alan
M. Dershowitz.

RESPONSE:

Subject to and without waiving the General Objections, Defendant responds that he wil! produce

all responsive, non-privileged documents currently in his possession, custody or control relating

to the sole occasion on which Defendant was physically present on Little Saint James Island.

HOUSE_OVERSIGHT_014101
"
TEXT-001-HOUSE_OVERSIGHT_031546.txt,"﻿moo T-Mobile LTE 
4:40 PM 
Twitter, Inc. 
/ 30% 
•1 
Donald J. Trump 
45th President of the United States of America'M 
0, Washington, DC (9 Instagram.corn/realDonaldTrurnp 
45 Following 46,137,463 Tollowers 
Tweets Tweets & replies Media Likes 
Donald J. Trump @realDonaldTrump • 12h 
....to President of the United States (on my first try). 
I think that would qualify as not smart, but 
genius....and a very stable genius at that! 
Q 83.6K ra, 26.6K c2 104.8K 2 
Donald J. Trumps @realDonaldTrump • 12i 
....Actually, throughout my life, my two greatest 
assets have been mental stability and being, like, 
really smart. Crooked Hillary Clinton also played 
these cards very hard and, as everyone knows, went 
down in flames. I went from VERY successful 
businessman, to top T.V. Star..... 
Q 55K 1_1 29.3K c2 102K 2 
Donald J. Trump. @realDonaldTrump • 12h 
Now that Russian collusion, after one year of intense 
study, has proven to be a total hoax on the American 
public, the Democrats and their lapdogs, the Fake 
News Mainstream Media, are taking out the old 
Ronald Reagan playbook and screaming ment-' 
stability and intelligence 
Q 30.6K 'Li, 26.7K () 108.5K 
"
TEXT-001-HOUSE_OVERSIGHT_030880.txt,"From: Michael Wolff 
Sent: 3/11/2019 8:08:25 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: FYI 
Importance: High 
This is what I'm now going with—what do you think? 
In the White House, the President, to general surprise, announced that he would not accompany his family to 
Mar-a-Lago over the holidays—a confounding, even alarming, turn for anyone who knew how much he valued 
a golf-and-warm-weather opportunity over any presidential business. Melania certainly had no intention of 
staying behind. Among other issues, friends suggested that she was still furious about his fireside Christmas Eve 
chat with a seven-year-old boy, during which Trump asked the boy if he still believed in Santa. ""Melania didn't 
think that was funny,"" said one aide. Trump was ""clearly a guy who had never dealt with a seven-year-old."" 
In an empty White House, Trump's personal secretary, 28-year-old Madeleine Westerhout, brought his 
papers and call sheets from the West Wing up to the residence, finding him, she told friends, in his underwear. 
And herein, suddenly, was another subplot. 
Westerhout had been the elevator girl in Trump Tower during the transition. The comely young woman ferrying 
dignitaries and job-seekers up to the President-elect soon became something of a meme herself Bannon recalled 
noting that Trump took a particular interest in her. A leering Trump kept repeating, ""She's got a way about her,"" 
his signature, and creepy, stamp of approval for young women. 
Now the president was telling friends that he wasn't staying at the White House because of the shutdown—he 
was staying because he was ""banging"" Madeleine. 
Shutdown bravado? Locker room talk? Or all part of a new alternative reality that only he seemed to be living 
in?"" 
HOUSE OVERSIGHT 030880 
"
IMAGES-005-HOUSE_OVERSIGHT_019623.txt,"The Crime Scene Investigation | 135

communications intelligence. It provided a valuable window on the
activities of adversary nations in the Pacific region and was able to
monitor the ballistic missile tests and submarine activities of China,
North Korea, and Russia. By 2013, the Kunia base had a vast array
of state-of-the-art technology, including ninety Cray supercom-
puters arranged in a horseshoe configuration, used to decipher and
make sense of the intercepted signals from China, Russia, and North
Korea. At the heart of the Hawaiian complex was a unit with both
military and civilian employees. A large share of the civilians who
ran the computers worked under two-year contracts with the NSA’s
leading civilian contractor, Booz Allen Hamilton.

General Alexander, who, as I said, headed the NSA in 2013, first
learned about an impending story in The Guardian on June 4, while
he was in Germany meeting with its top intelligence officials, from
Janine Gibson, The Guardian’s American website editor. She had
notified the NSA it intended to break a story focusing on the organi-
zation. It took NSA counterintelligence less than forty-eight hours
to determine that a civilian employee at the base from which docu-

© ments were stolen had not reported back to work on May 22. His ©
civilian supervisor had delayed reporting the absence to the NSA
until May 28. It also determined that the missing civilian employee,
Snowden, had lied on his application for a medical leave and had
flown to Hong Kong. Personal records showed he was being trained
as an analyst at the Threat Operations Center and had worked there
for less than six weeks. He had taken the medical leave on May 18
and left the country by plane. By June 6, he had become the NSA’s
main suspect.

Alexander flew to Washington, D.C., after assigning the sensi-
tive job of investigating the breach to a team headed by Richard
“Rick” Ledgett, who was then director of the NSA’s Threat Opera-
tions Center at the NSA’s headquarters in Fort Meade, Maryland.
Ledgett was the logical choice to head the damage assessment inves-
tigation because the center’s regional branch in Hawaii was under
his command. Ledgett flew to Hawaii, where his first task was to
reconstruct the chronology of Snowden’s moves, or, as the tactic is
called in counterintelligence parlance, “walking the cat back.”

The NSA had also notified the FBI of Snowden’s possible involve-

| | Epst_9780451494566_2p_all_r1.z.indd 135 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019623
"
IMAGES-003-HOUSE_OVERSIGHT_014560.txt,"Exhibit 23: Policy Rate Path Projections
We expect the pace of monetary policy tightening to
accelerate but remain benign.

Federal Funds Rate (%)
405

ISG View

GIR View

Market Implied

Median Federal Reserve Projection

3.5 5

3.0

25 +

2.0 -

0.5

0.0
Dec-16

Dec-17 Dec-18 Dec-19
Data as of December 31, 2016.

Note: For informational purposes only. There can be no assurance that the forecasts will

be achieved.

Source: Investment Strategy Group, Bloomberg, Goldman Sachs Global Investment Research,
Federal Reserve.

rate hikes should the economy weaken, and will

pick up the pace later in 2017 or 2018 if the

fiscal package under the Trump administration is

bigger than we expect (see Section II, 2017 Global

Economic Outlook, for a more detailed discussion).
Irrespective of the realized pace, this tightening

cycle will not result in a US recession in 2017,

in our view.

Recession Is Highly Unlikely

“Depression Bread Line,” Bronze, 1991, George Segal at the Franklin D. Roosevelt
Memorial. Art © The George and Helen Segal Foundation/Licensed by VAGA,
New York, NY.

Outlook | Investment Strategy Group 27

Low Expectations of a US Recession

Recessions in the US have been triggered by
Federal Reserve tightening of monetary policy; by
economic imbalances such as the bursting of the
dot-com and housing bubbles in 2000 and 2008,
respectively; or by external shocks such as the Arab
oil embargo in 1973. The first two triggers are
unlikely to occur in 2017, and the third, a shock,
is not something that we can typically anticipate.
However, we do think that China will be a

source of downside risk sometime over the next
three years.

First, as we mentioned in last year’s Outlook,
there have been five tightening cycles in the post-
WWII period that have not triggered a recession.
Four of those cycles occurred during the three
longest recoveries, as shown in Exhibit 24. Those
cycles have been characterized by an early start
to the tightening cycle, a slow pace relative to
historical averages (220 basis points per year for
nonrecessionary tightening and 330 basis points per
year in recessionary cycles), low core inflation and
slack in the labor market. This cycle shares those
characteristics: the tightening cycle started in 2015,
the pace has been 25 basis points per year, the core
personal consumption expenditures (PCE) index—
the Federal Reserve’s preferred benchmark for
inflation—is at 1.6% year over year as of November
2016, and our colleagues in GIR estimate that the
labor market still has about 0.3% slack.

Second, the US economy does not
suffer from any imbalances in which one
sector of the economy has become the
sole driver of growth or equity market
returns. Before the global financial crisis,
residential investment as a percentage
of GDP had peaked at 6.7% in 2005,
compared to a long-term average of
4.7%, and the credit-to-GDP gap as a
measure of nonfinancial sector leverage
had peaked at 12.4% in 2007 compared
to a long-term average of -1%, leading
to meaningful imbalances. Similarly, in
2000, technology and telecommunication
sector valuations were more than three
standard deviations higher than the
average of other sectors. Such imbalances
do not exist in the US at this time.

Third, while we cannot anticipate an
external shock—otherwise it would not
be a shock—we do not see imbalances in
other large economies except in China.

HOUSE_OVERSIGHT_014560
"
IMAGES-012-HOUSE_OVERSIGHT_032617.txt,"of course

On Sat, Sep 9, 2017 at 6:30 PM ev rOtc:

are we meeting in new york?
Sent from my iPhone

On Sep 9, 2017, at 7:16 PM, jeffrey E. <jeevacation@gmail.com> wrote:

is this some sort of perverted question :) 12 american. of course

On Sat, Sep 9, 2017 at 5:40 PM, [i wrote:

what is your shoes size if you dont mind me asking?
Sent from my iPhone

On Sep 9, 2017, at 4:30 AM, jeffrey E. <jeevacation@gmail.com> wrote:

I think trump cut the legs off your guy . He would like to take all the credit. If there is a deal or be seen to
be strong on terror

On Sat, Sep 9, 2017 at 2:34 AM jeffrey E. <jeevacation@gmail.com> wrote:
See you I in. Ew york thurs?

On Fri, Sep 8, 2017 at 11:48 PM wrote:

tamem just called mbs .. he want to sit and talk .. breakthrough

Sent from my iPhone
On Sep 8, 2017, at 1:33 PM, jeffrey E. <jeevacation@gmail.com> wrote:

I will get larson to call you

On Fri, Sep 8, 2017 at 12:26 PM, [i wrote:

i will bring you some kuwaiti gifts but not food@
Sent from my iPhone
On Sep 8, 2017, at 11:52 AM, jeffrey E. <jeevacation@gmail.com> wrote:

what is your schedule in new york how long will you be there?

On Fri, Sep 8, 2017 at 9:09 AM, ie wrote:

things look very bad in the gulf .. my feeling trump do not want to end it
Sent from my iPhone

On Sep 8, 2017, at 2:28 AM, jeffrey E. <jeevacation@gmail.com> wrote:

your man did well . congragulations

HOUSE_OVERSIGHT_032617
"
IMAGES-008-HOUSE_OVERSIGHT_025020.txt,"24

East. The Iranians evidently hoped that militancy against the west,
above all on behalf of the Palestinians, could counteract the league-of-
outsiders aspect of their alliance. For a while, this project appeared
to be working. The Iran-created and sponsored Hezbollah movement
managed to precipitate Israeli withdrawal from south Lebanon in
2000, and then avoided defeat in a subsequent round of fighting in
2006. In a poll of Arab public opinion taken in 2008, the three most
popular leaders were Hassan Nasrallah, Bashar al-Assad and
Mahmoud Ahmedinejad, in that order. But this sense of inexorable
ascendancy in which the Iran-led bloc liked to cloak itself has fallen
victim to the Arab spring. First, the Saudis crushed a largely Shia
uprising in Bahrain which the Iranians backed. But more importantly,
Iran's tooth and nail defence of the brutal Assad regime in Syria is
progressively destroying its already shallow support Sunni Muslims.
Thus, a recent poll by the Arab-American Institute asked more than
4,000 Arabs their view of Iran. In Saudi Arabia, 6% had a positive
view — down from 89% in 2006. In Jordan, the positive rating fell
from 75% to 23%, in Egypt from 89% to 37% in the same period. The
uprising in Syria placed Iran in an impossible position. Maintaining
its ally in Damascus formed an essential strategic interest. Iran hoped,
following the US departure from Iraq, to achieve a contiguous line of
pro-Iranian, Shia states stretching from Iran itself to the
Mediterranean. But keeping this ambition alive in recent months
required offering very visible support to a non-Sunni regime engaged
in the energetic slaughter of its own, largely Sunni people. This has
led to the drastic decline in the standing of the Iranians and their
friends. Such a decline was probably inevitable. Outside the core
areas of Shia Arab population, Iran's support was broad but shallow.
It is noteworthy that since the Arab Spring, Hamas appears to have
distanced itself both from Assad and from the Iranians. According to

HOUSE_OVERSIGHT_025020
"
IMAGES-007-HOUSE_OVERSIGHT_023372.txt,"In re: TERRORIST ATTACKS ON SEPTEMBER 11, 2001., 2012 WL 257568 (2012)

Plaintiffs assert claims under the Anti-Terrorism Act, 18 U.S.C. §§ 2331 ef seg., and under the Racketeer-Influenced and
Corrupt Organizations (“RICO”) statute, *5 18 U.S.C. §§ 1962 ef seg., which conferred jurisdiction on the district court
through the specific grants of jurisdiction applicable to each statute and pursuant to 28 U.S.C. § 1331. In some of the
underlying cases, plaintiffs and defendants were diverse, in that defendants were citizens of foreign states or of states
different from the states in which plaintiffs were citizens. Plaintiffs who are not U.S. persons assert claims for violations of
international law, over which the district court had jurisdiction pursuant to the Alien Tort Statute, 28 U.S.C. § 1350. The
district court further had supplemental jurisdiction over plaintiffs’ common law claims pursuant to 28 U.S.C. § 1367. Where
defendants claimed immunity under the Foreign Sovereign Immunities Act and plaintiffs asserted the application of one or
more exceptions to immunity, the court had jurisdiction pursuant to 28 U.S.C. §§ 1330 & 1605. In addition, actions originally
filed in other jurisdictions were transferred to the Southern District of New York by the Judicial Panel on Multidistrict
Litigation pursuant to 28 U.S.C. § 1407.

This Court has appellate jurisdiction of this matter pursuant to 28 U.S.C. § 1291. The district court dismissed defendants in
this case in six orders dated January 18, 2005 Un re Terrorist Attacks on September 11, 2001, 349 F. Supp. 2d 765
(“Terrorist Attacks”) (S.D.N.Y 2005)); September *6 21, 2005 (in re Terrorist Attacks on September 11, 2001, 392 F. Supp.
2d 539 (“Terrorist Attacks IP’) (S.D.N.Y 2005)); November 20, 2006 Un re Terrorist Attacks on September 11, 2001, 462 F.
Supp. 2d 561 (“SAMBA TP’) (S.D.N.Y. 2006)); December 14, 2006 Un re Terrorist Attacks on September 11, 2001, 464 F.
Supp. 2d 335 (““DMI-Kamel?’) (S.D.N.Y. 2006)); June 17, 2010 Wn re Terrorist Attacks on September 11, 2001, 718 F. Supp.
2d 456 (“Terrorist Attacks IV’) (S.D.N.Y. 2010)); and September 13, 2010 (In re Terrorist Attacks on September 11, 2001,
740 F. Supp. 2d 494 (“Terrorist Attacks V’) (S.D.N.Y. 2010)).? Additional defendants remain in the case, which is still
pending below. On July 14, 2011, the district court entered a partial final judgment pursuant to Rule 54(b) of the Federal
Rules of Civil Procedure in favor of 75 defendants dismissed in those four orders, including each of the appellees. Plaintiffs
timely filed their notices of appeal on August 9, 2011, August 10, 2011, and August 11, 2011.

Statement of Issues Presented for Review

1. Whether plaintiffs’ allegations, accepted as true and with all reasonable inferences drawn from them in plaintiffs’ favor,
constitute a *7 prima facie showing that each of five defendants, for purposes of 18 U.S.C. § 2333, knew that or recklessly
disregarded whether al-Qaeda was the recipient of the financial and other support each defendant was providing to al-Qaeda.

2. Whether, for purposes of claims asserting violations of “the law of nations” under the Alien Tort Statute, 28 U.S.C. § 1350,
such violations include acts of international terrorism or are limited to the hijacking of commercial airplanes.

3. Whether claims arising under the Torture Victim Protection Act, 28 U.S.C. § 1350 note, can be asserted against defendants
who are not natural persons, including corporations and other legal entities.

4. Whether plaintiffs’ allegations, accepted as true and with all reasonable inferences drawn from them in plaintiffs’ favor,
constitute a prima facie showing that defendants who provided material support to al-Qaeda owed a duty of care, in relation

to negligence claims, to victims of an al-Qaeda attack in the United States.

5. Whether plaintiffs’ intentional tort claims related to the September 11, 2001 attacks in Virginia and Pennsylvania are
subject to New York’s one-year statute of limitations.

*8 6. Whether plaintiffs’ intentional tort claims related to the September 11, 2001 attacks in New York, Virginia, and
Pennsylvania are subject to equitable tolling even if subject to New York’s one-year statute of limitations.

7. Whether the dismissals of three defendants, based on a decision of this Court construing 28 U.S.C. § 1605(a)(5), should be
vacated because this Court has overruled that earlier decision since the filing of notices of appeals.

Statement of The Case

Nature of the Case and Course of Proceedings

WESTLAW

HOUSE_OVERSIGHT_023372
"
IMAGES-012-HOUSE_OVERSIGHT_033509.txt,"Do you have service on Maxwell or still trying to subpoena her??

fesstca Cadwell, CP, FRI

Certified Paralegal

Florida Registered Paralegal

BURMAN CRITTON LUTTIER & COLEMAN, LLP
515 N. Flagler Drive

Suite #400

From: Jacquie Johnson (mailto ie
Sent: Tuesday, August 11, 200 :

To: Jessica Cadwell

Subject: RE: Jane Doe

Please notice the deposition of Ms. Maxwell has been rescheduled from 8/17 to 9/23. A re-Notice of Taking Deposition
will follow. Mr. Trump’s deposition is scheduled for August 18, 2009.

From: Jessica Cadwell [mailto:

Sent: Monday, August 10, 2009 3:31 PM
To: Jacquie Johnson

Subject: RE: Jane Doe

No not likely. They just filed an emergency protective order

fpesstca Cadwell, CP, FRI

Certified Paralegal

Florida Registered Paralegal

BURMAN CRITTON LUTTIER & COLEMAN, LLP
515 N. Flagler Drive

Suite #400

West Palm Beach FL 33401

From: Jacquie Johnson (aio
Sent: Monday, August 10, 2009 3:

To: Jessica Cadwell
Subject: RE: Jane Doe

Jessica — is the depo off going forward on Friday

From: Jessica Cadwell [mailto:

Sent: Monday, August 10, 2009 12:10 PM
To: Jacquie Johnson

Subject: RE: Jane Doe

| didnt forget about this...
Still working on it.

fesstca Cadwell, CP, SRS

Certified Paralegal

Florida Registered Paralegal

BURMAN CRITTON LUTTIER & COLEMAN, LLP

HOUSE_OVERSIGHT_033509
"
IMAGES-003-HOUSE_OVERSIGHT_016377.txt,"You can show this in children’s everyday learning, too. Young children rapidly
learn abstract intuitive theories of biology, physics, and psychology in much the way
adult scientists do, even with relatively little data.

The remarkable machine-learning accomplishments of the recent AI systems, both
bottom-up and top-down, take place in a narrow and well-defined space of hypotheses
and concepts—a precise set of game pieces and moves, a predetermined set of images. In
contrast, children and scientists alike sometimes change their concepts in radical ways,
performing paradigm shifts rather than simply tweaking the concepts they already have.

Four-year-olds can immediately recognize cats and understand words, but they
can also make creative and surprising new inferences that go far beyond their experience.
My own grandson recently explained, for example, that if an adult wants to become a
child again, he should try not eating any healthy vegetables, since healthy vegetables
make a child grow into an adult. This kind of hypothesis, a plausible one that no grown-
up would ever entertain, is characteristic of young children. In fact, my colleagues and I
have shown systematically that preschoolers are better at coming up with unlikely
hypotheses than older children and adults.*? We have almost no idea how this kind of
creative learning and innovation is possible.

Looking at what children do, though, may give programmers useful hints about
directions for computer learning. Two features of children’s learning are especially
striking. Children are active learners; they don’t just passively soak up data like Als do.
Just as scientists experiment, children are intrinsically motivated to extract information
from the world around them through their endless play and exploration. Recent studies
show that this exploration is more systematic than it looks and is well-adapted to find
persuasive evidence to support hypothesis formation and theory choice.*° Building
curiosity into machines and allowing them to actively interact with the world might be a
route to more realistic and wide-ranging learning.

Second, children, unlike existing Als, are social and cultural learners. Humans
don’t learn in isolation but avail themselves of the accumulated wisdom of past
generations. Recent studies show that even preschoolers learn through imitation and by
listening to the testimony of others. But they don’t simply passively obey their teachers.
Instead they take in information from others in a remarkably subtle and sensitive way,
making complex inferences about where the information comes from and how
trustworthy it is and systematically integrating their own experiences with what they are
hearing.!

“Artificial intelligence” and “machine learning” sound scary. And in some ways
they are. These systems are being used to control weapons, for example, and we really
should be scared about that. Still, natural stupidity can wreak far more havoc than
artificial intelligence; we humans will need to be much smarter than we have been in the
past to properly regulate the new technologies. But there is not much basis for either the
apocalyptic or the utopian visions of AIs replacing humans. Until we solve the basic

3° A. Gopnik, et al., “Changes in cognitive flexibility and hypothesis search across human life history from
childhood to adolescence to adulthood,” Proc. Nat. Acad. Sci., 114:30, 7892-99 (2017).

“L. Schulz, “The origins of Inquiry: Inductive inference and exploration in early childhood,” Trends Cog.
Sci., 16:7, 382-89 (2012).

4 A. Gopnik, Zhe Gardener and the Carpenter (New York: Farrar, Straus & Giroux, 2016), chaps. 4 and 5.

157

HOUSE_OVERSIGHT_016377
"
IMAGES-002-HOUSE_OVERSIGHT_012558.txt,"Tin Sateen cot ats Reeien OR!

“""1655 Palm Beach’Lakes Bivd., Suite’500 - West Palm’ Beach, FL 3340f"""" on ens

ansor & Associates |

PAPAS. deporting and ‘Transcription, ine>:
Page 13
A I just -- I mean, I was never pushy on it. I
just, like I said, she always knows.
I may not tell her every time, but she always
knows how I feel about this case.
Q Meaning?

I don't need anything.

Q Meaning that you made it really clear to her

that you didn't need any help?

A Yeah, from the beginning, I was very, very
reassuring about how I felt about it. And I wasn't.
very happy.

Q All right. I understand.

Now, we're about four contacts with
Nesbith -- your house, Panera Bread, work, the David
Copperfield investigators.

A ‘Yaa.

Q Were there any other meetings that we have
not spoken about?

A There may have been like one or two. But

they're -- I don't even remember. I mean, those are

the ones, like, that remember the most.
Q That you really remember, okay.
Now, were there other telephone calls that
occurred, where, kind of the same kind of conversation

would occur? You know, there's help for you and you'd

DPS Wa SoM dah cow te ce oi adhe A Sa SEY EBSD EPAPER EIS CEN L ECNO T Sate SCT RIN PETS TE MICS

Ph. 561.682.0905 - Fax. 561.682.1771

Tyan Sea ts Panaderia

HOUSE_OVERSIGHT_012558
"
IMAGES-005-HOUSE_OVERSIGHT_018515.txt,"te OK ok

Orgasms Aren't My Favorite Part Of Sex, and My Chastity Urge

My previous piece ""A Unified Theory of Orgasm"" was really well-received, and a lot of
people have thanked me for writing it. As always, though, there's some mixed feedback
too. And I've been worried about one thing in particular: it seems like a lot of people
missed the part in my article where I said that, now that I've learned how to have
orgasms... orgasms aren't even my favorite part of sex. It's a long article, and I can see
how people would miss that, but I did say it and I think it's important.

It may be ironic that I spent so much time feeling terrible and broken and depressed
because I couldn't figure out how to have orgasms... whereas now I prefer not to focus on
them. In fact, I estimate that most of my current sexual encounters don't include my
orgasm, and very few of my most pleasurable sexual encounters have included my
orgasm.

I'm the first to admit that I don't know everything about sex, and there's a lot that I haven't
experienced. Anything might change. But seriously. The best sex I've had in my life has
been connective and emotional and, for me personally, has frequently involved intense
BDSM. My favorite sex so far? Has also mostly been orgasm-free.

Some people in some sex-related communities have asserted that for maximum amorous
power, it's actually best to limit one’s orgasms, because then the contained sexual energy
ends up channeling into a deeper connection with one's partner. I can see that. For me,
another way of thinking about it is that I'm really into being teased -- and I'd rather
experience hours of being teased without an orgasm, than have a quick encounter that
ends in orgasm.

And.... (Oh no, I can already tell this is going to get complicated... but hey, sex is
complicated, so I'll give it a shot.).... Especially when I'm doing BDSM, it can actually be
hot sometimes if I don't have an orgasm. For example: if I go to sleep so turned on that I
can't dream about anything but my partner, and then I wake up in a damp mess, and then
my partner makes my life difficult all morning, it's pretty awesome. (Although it's very
nice that I know how to give myself orgasms now, because that means that if I'm really
feeling overwhelmed by my own sexual energy, I know how to give myself release if I
have to. You know, like... if I need to get some work done.)

Aaaaand... here's the most painful, ridiculous, circular irony of all. Ready? Here goes:
now that I'm capable of having orgasms, I've found myself occasionally having orgasms
only to satisfy my partner. How absurd is that? Plus, I know I'm not alone, because I've
talked to other women who do the same thing!

I've written before that in the past I've felt trapped by fake plastic ideas of ""what hot girls
look like during sex""; I've written about how the pressure to ""perform"" my sexuality can
hurt. What has amazed me, as I've gotten older, is just how pervasive that pressure can
feel with some partners... and how little pressure there is with other partners. The
question of how to create a low-pressure environment for sexuality to flourish is big and
complicated, so let me just say here that although I'm all about people giving each other
orgasms... it's no good if my partner's desire to give me an orgasm turns into pressure for

HOUSE_OVERSIGHT_018515
"
TEXT-001-HOUSE_OVERSIGHT_030670.txt,"From: Weingarten, Reid 
Sent: 11/2/2017 6:07:15 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Don't snicker, make fun or call me a liberal douchebag...we are approaching public good vs evil in a 
fundamental way 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Thursday, November 2, 2017 11:04 AM 
To: Weingarten, Reid 
Subject: Re: 
how would he do it. rosenstein? 
On Thu, Nov 2, 2017 at 1:50 PM, Weingarten, Reid < wrote: 
Would put us in a different place...may even rouse you into action 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Thursday, November 2, 2017 10:43 AM 
To: Weingarten, Reid 
Subject: Re: 
opinon or knowledge 
On Thu, Nov 2, 2017 at 1:36 PM, Weingarten, Reid < > wrote: 
Trump is going to fire mueller and republicans on hill won't do a thing 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Thursday, November 2, 2017 10:04 AM 
To: Weingarten, Reid 
Subject: Re: 
told you so 
On Thu, Nov 2, 2017 at 12:58 PM, Weingarten, Reid < > wrote: 
Bannon won...tax code fucks rich people 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Wednesday, November 1, 2017 3:06 PM 
To: Weingarten, Reid 
Subject: Re: 
Number? I have s truly funny one 
HOUSE OVERSIGHT 030670 
On Wed, Nov 1, 2017 at 5:19 PM Weingarten, Reid < > wrote: 
And? 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Wednesday, November 1, 2017 2:14 PM 
To: Weingarten, Reid 
Subject: Re: 
Notice the date of the email 
On Wed, Nov 1, 2017 at 5:05 PM Weingarten, Reid > wrote: 
Just landed in san fran...at the airport...let's talk when I get settled... 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Wednesday, November 1, 2017 2:04 PM 
To: Weingarten, Reid 
Subject: Re: 
number ? 
On Wed, Nov 1, 2017 at 5:02 PM, Weingarten, Reid < 
Charlie rose is next 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Wednesday, November 1, 2017 10:07 AM 
To: Weingarten, Reid 
Subject: 
brett ratner now. oy 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
> wrote: 
HOUSE OVERSIGHT 030671 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
HOUSE OVERSIGHT 030672 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030673 
"
IMAGES-002-HOUSE_OVERSIGHT_014129.txt,"GIUFFRE001575

HOUSE_OVERSIGHT_014129
"
IMAGES-002-HOUSE_OVERSIGHT_013646.txt,"tt

setting for the spiritual work toward that promised in John “...that you love one
another; even as | have loved you, that you also love one another.”

In contrast with what has been described in previous chapters as the
entheogenic drug-induced transitions to a spiritual mind, one is tempted to describe
these Fundamentalists’ states as the amphetamine religions. The Los Angeles
Ram’s Hall of Fame defensive end, on very high doses of amphetamine (125
milligrams compared with the diet dose of 5 milligrams) taken four hours before the
Sunday games, the Baptist minister, Deacon Jones, used his famous and
consciousness annihilating head slap to daze the opposing offensive tackle in order
to gain access to and injure the other team’s quarterback. Before taking the handful
of Dexedrine spansuls, he would tell me, “See you on Tuesday.” Along with the
Deacon’s destructive aggression was the other invariant feature of the actions of
high doses of amphetamine, compulsive stereotypy, the fixity and driven repetition
of over simplified actions and thoughts along with the loss of breadth of vision and
adaptive flexibility. Deacon consistently rushed inside, took the inside lane, in spite
of offensive linemen, who having studied previous game films, being set up to
expect his route. They used this knowledge to take him out of the play. In modern
theological parlance, judgmental rigidity and thinly veiled disapproval take the place
of the more flexibly curious and lovingly humane feelings of the participants in the
evolution in spiritual understanding of today’s /iberal Protestant process religions.
These are the ones that believe that the properties of God evolve along with our
biology, our brains and our growing scientific understanding of ourselves and the
world.

Angry splitting is not just a stimulant drug effect. Recall my experience of the
sudden emergence of a first second wind after a mile or so of my daily ten miles of
running. It was frequently accompanied by inner bursts of obsessive, paranoid
thoughts. Taking five milligrams of amphetamine felt much like the first second
wind. | am full of energy with arrogant feelings of power, mind fixated in grand and
simple ideas that | believe to be absolute and correct. | feel irritably intolerant about

anyone or anything different. It is my virtuous duty to set everyone straight.

146

HOUSE_OVERSIGHT_013646
"
IMAGES-006-HOUSE_OVERSIGHT_022425.txt,"42-0""

JEFFREY

COLE

ARCHITECTS

258 EAST 3RD STREET
GROUND FLOOR
NEW YORK NY 10009

PHONE;
FAX:

70! - 2"" Bo""

OTH FLOOR

1/4"" = 1'-0""

a No. |Revision Date
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BEDROOM 4 @B 1/2 MASTER BEDROOM 320 EAST 82ND
13-9"" 12-1"" cia 10 RISERS MASTER, 13-9"" X 14/0""
@7"" BEDROOM STREET
DRESSING
AREA POWDER ti
BATHROOM 4 ROOM
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RISER

A-105.00

ee

HOUSE_OVERSIGHT_022425

"
IMAGES-002-HOUSE_OVERSIGHT_013120.txt,"HOUSE_OVERSIGHT_013120
"
IMAGES-001-HOUSE_OVERSIGHT_010691.txt,"OGE Form 278 (March 2014)
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.

Filer's Name
A24 = |

Reference # | _ _ ae a Gee ee ee = = = fs =< ee Ss omaha
99.9 The Donald J. Trump Revocable Trust Member
270 TRUMP DELMONICO LLC *(1)
Owned by: % Ownership Name Role
100 The Donald J. Trump Revocable Trust Member
Has ownership interest In: Entity Name Ownership Title
TRUMP PARK AVENUE LLC 50.00% Managing Member

271 TRUMP DEVELOPMENT SERVICES LLC *(3)

Owned by: % Ownership Name Role
: 1 TRUMP DEVELOPMENT SERVICES Managing Member
MEMBER CORP
99 DJT Holdings LLC Member
272 TRUMP DEVELOPMENT SERVICES MEMBER CORP *(3)
Owned by: % Ownership Name Role
100 DJT Holdings Managing Member LLC Shareholder
Has ownership interest in: Entity Name Ownership Title
TRUMP DEVELOPMENT SERVICES 1,00% Managing Member
LLC
275 TRUMP DRINKS ISRAEL LLC *(3)
Owned by: % Ownership Name Role
1 TRUMP DRINKS ISRAEL MEMBER Managing Member
CORP
99 DJT Holdings LLC Member
276 TRUMP DRINKS ISRAEL MEMBER CORP *(3)
Owned by: % Ownership Name Role
100 DIT Holdings Managing Member LLC Shareholder
Has ownership interest in: Entity Name Ownership Title
TRUMP DRINKS ISRAEL LLC 1.00% Managing Member

277 TRUMP EDUCATION ULC *(3)

Owned by: % Ownership Name Role
100 THE TRUMP ENTREPRENEUR Shareholder
INITIATIVE LLC (NY DOMESTIC)

278 TRUMP EMPIRE STATE INC *(3,

Owned by: % Ownership Name Role
100 DJT Holdings Managing Member LLC Shareholder

279 TRUMP NATIONAL DORAL

Owned by: % Ownership Name Role
1 TRUMP ENDEAVOR 12 MANAGER Managing Member
CORP
99 DJT HOLDINGS LLC Member
280 TRUMP ENDEAVOR 12 MANAGER CORP *(1)
Owned by: % Ownership Name Role
100 DJT HOLDINGS MANAGING MEMBER Shareholder
LLC
Has ownership interest in: Entity Name Ownership Title
TRUMP NATIONAL DORAL 1.00% Managing Member

281 TRUMP EU MARKS LLC *(3)

Owned by: % Ownership Name Role
1 TRUMP EU MARKS MEMBER CORP Managing Member
99 DTTM OPERATIONS LLC Member

282 TRUMP EU MARKS MEMBER CORP *(3)

Owned by: % Ownership Name Role

100 DTTM Operations Managing Shareholder
Member Corp
Has ownership interest in: Entity Name Ownership Title

HOUSE_OVERSIGHT_010691
"
IMAGES-010-HOUSE_OVERSIGHT_028900.txt,"""sticks"" as well as ""carrots""; and of the
importance of completely losing any
illusions regarding the objectives of
the Ayatollahs' regime.

¢ And from here, a sharp segue to the
diplomatic challenges Israel faces,
from the minor (for now) to the major.
¢ Israel is far from being a leaf in the
wind. But the world has no geopolitical
center of gravity — not the US, Russia,
Europe or China —Israel isn't
omnipotent either.

¢ Itis wrong to disregard what's
happening in Europe. It will not be
resolved by saying that Europe 1s
ridden with anti-Semitism (though
there's quite a bit of truth to that).

¢ Regarding BDS, I used to tell the
members of the Cabinet that— as long
as these voices are coming from Eritrea
or Mauritania, we can live with it for
years. When it comes from
Scandinavia and Britain — it's a
different story, and must be taken

HOUSE_OVERSIGHT_028900
"
IMAGES-006-HOUSE_OVERSIGHT_022343.txt,"Blanche Lark Christerson is a managing director at Deutsche Asset & Wealth Management in New York
City, and can be reached at blanche.christerson@db.com.

The opinions and analyses expressed herein are those of the author and do not necessarily reflect those of Deutsche Bank AG or any
affiliate thereof (collectively, the “Bank”). Any suggestions contained herein are general, and do not take into account an individual’s
specific circumstances or applicable governing law, which may vary from jurisdiction to jurisdiction and be subject to change. No
warranty or representation, express or implied, is made by the Bank, nor does the Bank accept any liability with respect to the
information and data set forth herein. The information contained herein is not intended to be, and does not constitute, legal, tax,
accounting or other professional advice; it is also not intended to offer penalty protection or to promote, market or recommend any
transaction or matter addressed herein. Recipients should consult their applicable professional advisors prior to acting on the
information set forth herein. This material may not be reproduced without the express permission of the author. ""Deutsche Bank"" means
Deutsche Bank AG and its affiliated companies. Deutsche Asset & Wealth Management represents the asset management and wealth
management activities conducted by Deutsche Bank AG or its subsidiaries. Clients are provided Deutsche Asset & Wealth
Management products or services by one or more legal entities that are identified to clients pursuant to the contracts, agreements,
offering materials or other documentation relevant to such products or services. Trust and estate and wealth planning services are
provided through Deutsche Bank Trust Company, N.A., Deutsche Bank Trust Company Delaware and Deutsche Bank National Trust
Company. © 2013 Deutsche Asset & Wealth Management. All rights reserved. 017075 121913

Tax Topics — Table of Contents — 2013 — 14

HOUSE_OVERSIGHT_022343
"
TEXT-001-HOUSE_OVERSIGHT_029447.txt,"From: Robert Trivers_____________________________ 
Sent: 2/9/2018 1:35:43 AM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Attachments: French Chauvinism.docx; President Obama and Self-dec.doc; It is difficult to pick the stupidest op.docx 
Importance: High 
Three short pieces that might amuse you (still working on Obama) 
HOUSE OVERSIGHT 029447 
"
IMAGES-001-HOUSE_OVERSIGHT_010849.txt,"00:30:37

00:30:39

00:30:40

00:30:41

00:30:43

00:30:46

00:30:49

00:30:51

oon Ooh OD =

00:30:54
00:30:56 1 0
00:30:58 1 1
00:31:04 1 2
00:31:01 1 3
00:31:04 1 4
00:31:04 1 5
00:31:04 1 6
00:31:05 1 7
00:34:10 1 8
00:34:12 1 9
00:31:15 20
00:34:15 21
00:31:18 22
00:31:20 23
oo:3125 24
oo:31:26 25

00:31:27
00:31:29
00:34:33
00:34:35
00:31:38
00:31:40

00:31:43

ON Ooh wn =

00:34:46

wo

00:34:47
oo31:s0 10
oo3:63 11
oo:31:55 12
oor 13
oo:3201 14
oo-se0s 15
oo:32.08 16
oo:a200 17
oo:3211 18
003212 19
oo3213 20
cosas 214
oo3219 22
oo3210 23
oos219 24
003220 25

9 of 46 sheets

184
recollection of talking te, you know, anyone who is --
who was in his firm.

Q. Okay.
A. I--+I think the record should be clear,
I'm -- I'm an attorney and a law professor in Salt Lake
City, Utah, and my understanding, he's an attorney here
in Florida. So I don't ordinarily interact with --
with, you know, attorneys in Florida, other than the
ones that I'm interacting with on -- on this case.
MR. SCAROLA: Which is now occurring on a
very regular basis.
BY MR. SIMPSON:
Q. Mr. Cassell --
MR. SCOTT: No teaming, Mr. Scarola, please.
BY MR. SIMPSON:
Q._ -- did -- didn't you testify yesterday that
the fact that Mr. Josefsberg's firm had filed a

complaint against Miss Roberts, who is also your client,

to be significant to your evaluation of the case?

A. Yes.

QQ. And if it -- if that was significant to
evaluation of the case, why are you telling us you don't
normally talk with attorneys in Florida? Doesn't he
represent -- at one point, represent the same client?

A. Right.

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

185

Q. And so wouldn't it be natural for you to be
speaking with -- at Jleast within the realm of something
one might expect for you to speak?

A. If I were a solo representative of Virginia
Roberts, that would be the case, but I think you're
obviously aware that I have co-counsel on this case, and
there are other attorneys who are also participating in
this matter.

So I think it would be obvious that if
there's a division of labor, it might not be along the
lines that you're suggesting. And I can't go any
further without going into work product and other issues
surrounding Miss Roberts’ representation.

Q. Has Mr. Boies ever told you that he believes
Miss Roberts was mistaken in her accusations against
Professor Dershowitz?

MR. SCAROLA: Same objection. Same
instruction.

MS. McCAWLEY: Same instruction.

THE WITNESS: I'd like to confer with my
counsel on a attorney/client privilege issue in
connection with that question.

MS. McCAWLEY: Can I just write down the
question and --

MR. SIMPSON: I'll -- I'll rephrase it.

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

00:32:20

00:32:22

00:32:25

00:32:30

00:32:37

00:32:39

00:32:39

00:32:40

00:92:45

oN MO fF WOH =

9

00:32:46 1 0

00:32:52 1 1

00:32:56 1 2
00:32:58 1 3
00:33:02 1 4

00:33:03 1 5

00:33:04 16
o0:3304 17
00:33:07 18
00:93:08 19
00:33:13 20
00:33:15, 21
00:33:19 22
00:33:19 23
00:33:19 24
00:33:21 25

00:33:22

00:33:26

00:33:27

00:33:30

00:33:34

00:33:35

00:33:37

00:33:46

00:33:53

00:33:55

oN Mm Oh ON =

wo

10

00:33:58 1 1
00:34:02 1 2
00:34:07 1 3
00:34:10 1 4
00:34:12 1 5
00:34:14 1 6
00:34:16 1 7
00:34:20 1 8
00:34:23 20
00:34:26 21
00:34:30 22
00:34:34 23
00:34:37 24
00:34:40 25

186
BY MR. SIMPSON:

Q. Have you ever -- I'll rephrase the question.

Have you ever discussed with Mr. Boies his
views as to whether or not Miss Roberts is mistaken in
her allegations against Professor Dershowitz?

MS. McCAWLEY: Objection.

MR. SCAROLA: Same objection. Same

instruction.
BY MR. SIMPSON:

Q. Prior to December 30th of 2014, had you
personally reviewed any of the flight logs that had been
referred to in the testimony in this case?

A. All right?

Q. My only question is whether you personally
reviewed them.

A. Yes.

Q. What flight logs have you reviewed; how would
you describe them?

A. Both Exhibit 1 and Exhibit 2 that were shown
to Mr. Dershowitz yesterday.

Q. If -- I believe those were Exhibits 6 and
7--

A. Okay.

Q. — -- but can we agree that flight logs were
marked as exhibits?

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400
187

A. Right. The two composite exhibits of flight
logs I had examined previously.

Q. Okay. So the same documents that Professor
Dershowitz was shown at his deposition; is that right?

A. That's my recollection, yes.

Q. Okay. When did you review those?

A. So one of the reviews was in May 2014. There
may have also been an earlier review at an earlier ~~
earlier time, but I definitely remember reviewing them
in May -- approximately May 2014.

Q. Would -- do you -- isn't it true that those
flight logs support Professor Dershowitz's testimony
that he was never on a plane with Virginia Roberts?

A. No.

Q. How do they not? What is -- what is the
explanation for your conclusion in that regard?

A. Right. We talked about this yesterday, so
I'll incorporate to speed things up some of the
testimony that I gave yesterday.

What the flight logs showed was, to my mind,
evidence of potential doctoring, evidence of -- of
selective presentation of evidence. Mr. Dershowitz had
presented to a law enforcement agency, at their request,
apparently what I understood to be the -- the -- I
understood that he had been requested by a law

ESQUIRE DEPOSITION SOLUTIONS
(954) 331-4400

Page 184 to 187 of 335

10/20/2015 01:08:15 PM

HOUSE_OVERSIGHT_010849
"
IMAGES-010-HOUSE_OVERSIGHT_030197.txt,"The Last Word: Yikes!

When George Bush was elected president of the United States in
2000, it was due to the electoral college, even though his opponent, Al
Gore, won the national popular vote.

Hillary Clinton was elected senator that year, and she announced
that the first thing she would do was to get rid of the electoral college.

A few years later, as a columnist for the Mew York Press, | sent her a
letter asking about the status of that promise. She didn’ t reply.

On November 8, 2016, a crooked businessman, liar extraordinaire,
bragging pussy-grabber, make-America-white-again, anti-choice, anti-
Semite, fake Christian, the rapist of a 13-year-old girl in 1994 at a
pedophile party (she canceled a press conference one week before the
election because of death threats if she filed a lawsuit), climate-change
hoaxer, twitter addict, homophobic, apprentice politician, fucking fascist,
and of course Vladimir Putin’ s “useful idiot,” namely Donald Trump,
who was elected as an insanely narcissistic dictator based on the electoral
college (a rigged system), whereas his opponent, Hillary Clinton, won the
national popular vote by almost three million individuals galore, to no

avail.

HOUSE_OVERSIGHT_030197
"
IMAGES-003-HOUSE_OVERSIGHT_016411.txt,"Because what else would make a periodic signal? It turned out to be a rotating neutron
star.

One criterion to apply to a potentially purposeful phenomenon is whether it’s
minimal in achieving a purpose. But does that mean that it was built for the purpose?
The ball rolls down the hill because of gravitational pull. Or the ball rolls down the hill
because it’s satisfying the principle of least action. There are typically these two
explanations for some action that seems purposeful: the mechanistic explanation and the
teleological. Essentially all of our existing technology fails the test of being minimal in
achieving its purpose. Most of what we build is steeped in technological history, and it’s
incredibly non-minimal for achieving its purpose. Look at a CPU chip; there’s no way
that that’s the minimal way to achieve what a CPU chip achieves.

This question of how to identify purposefulness is a hard one. It’s an important
question, because radio noise from the galaxy is very similar to CDMA transmissions
from cell phones. Those transmissions use pseudo-noise sequences, which happen to
have certain repeatability properties. But they come across as noise, and they’re set up as
noise, so as not to interfere with other channels. The issue gets messier. If we were to
observe a sequence of primes being generated from a pulsar, we’d ask what generated
them. Would it mean that a whole civilization grew up and discovered primes and
invented computers and radio transmitters and did this? Or is there just some physical
process making primes? There’s a little cellular automaton that makes primes. You can
see how it works if you take it apart. It has a little thing bouncing inside it, and out
comes a sequence of primes. It didn’t need the whole history of civilization and biology
and so on to get to that point.

I don’t think there is abstract “purpose,” per se. I don’t think there’s abstract
meaning. Does the universe have a purpose? Then you’re doing theology in some way.
There is no meaningful sense in which there is an abstract notion of purpose. Purpose is
something that comes from history.

One of the things that might be true about our world is that maybe we go through
all this history and biology and civilization, and at the end of the day the answer is “42,”
or something. We went through all those 4 billion years of various kinds of evolution
and then we got to “42.”

Nothing like that will happen, because of computational irreducibility. There are
computational processes that you can go through in which there is no way to shortcut that
process. Much of science has been about shortcutting computation done by nature. For
example, if we’re doing celestial mechanics and want to predict where the planets will be
a million years from now, we could follow the equations, step-by-step. But the big
achievement in science is that we’re able to shortcut that and reduce the computation.
We can be smarter than the universe and predict the endpoint without going through all
the steps. But even with a smart enough machine and smart enough mathematics, we
can’t get to the endpoint without going through the steps. Some details are irreducible.
We have to irreducibly follow those steps. That’s why history means something. If we
could get to the endpoint without going through the steps, history would be, in some
sense, pointless.

So it’s not the case that we’re intelligent and everything else in the world is not.
There’s no enormous abstract difference between us and the clouds or us and the
cellular automata. We cannot say that this brainlike neural network is qualitatively

191

HOUSE_OVERSIGHT_016411
"
IMAGES-006-HOUSE_OVERSIGHT_020554.txt,"95

related http://chinachange.org site, have been removed from the VOA website. Several
prominent Chinese commentators are no longer on VOA’s lineup of analysts. Many
staffers now describe VOA’s content as neither pro- nor anti-China. The emphasis, the
staffers observed, is on travel, culture and language, programming the likes of which
Chinese viewers can access equally well on CGTN or China’s internet. By contrast, the

content of Radio Free Asia remains far more hard-hitting than its counterpart, VOA.

Conclusion and Recommendations

China has used America’s openness to convey its message both to English- and
Chinese-speaking residents of the United States. US rules allow foreign media
companies, even ones run by foreign governments, to broadcast freely via American
cable and satellite networks. Unlike in China, the United States government does

not block any Chinese websites, many of which are funded by the PRC government.
While the Communications Act of 1934 theoretically only allows foreigners to own

20 to 25 percent of terrestrial wireless radio and TV stations, the law has been loosened
considerably over the past decade, and it does not even apply to cable channels or leasing
arrangements wherein a foreign entity, including one owned by a foreign government,
can pay an American licensee for airtime. Chinese media outlets have used all such
strategies to publicize the views of the Beijing government.** Perhaps more worrisome,
China has also been successful in funding or convincing pro-PRC businessmen to fund
pro-PRC media outlets in the United States that nominally appear independent so that
the three most important traditionally independent Chinese-language newspapers now

increasingly side with Beijing.

By contrast, the Chinese government severely limits the scope of US and other Western
media outlets in China and has banned Western media investment in China, except in
very limited innocuous areas, such as in fashion, automobiles, investing, health, and
lifestyle. The idea that a Western TV news network could lease a Chinese station and
broadcast news to China around the clock—as their Chinese counterparts do here in
the United States—is not even thinkable. Equally, there is no chance that a Western

media company would be allowed to invest in a Chinese publication that reported

mainstream news.

Both the expansion of Chinese state-owned English-language media in the United
States and Beijing’s increasing control of Chinese-language media outlets in the United

States are very problematic for an open dialogue. For one, these media are under the

Section 6

HOUSE_OVERSIGHT_020554
"
IMAGES-001-HOUSE_OVERSIGHT_012086.txt,"CHART 2: THE LI KEQIANG INDEX VERSUS CHINESE REAL GDP GROWTH

30%

16%
15%
9
25% 1aBe
20% 13%
12%
15% 11%
10%
10% 9%
8%
0,
5% ai
0% ov

2006 2007 2008 2009 2010

ML) Kegiang Index (Left Hand Side)

Furthermore, CHART 3 shows that, directionally, the Li Keqiang
Index maps pretty well to the ebb and flow of Chinese property
prices, confirming the thesis that property prices have much
impact on the Chinese economy.

A close examination of CHART 2 raises an interesting observation:
Lately, the Li Keqiang Index has accelerated much more than the
reported GDP growth. One could surmise that China’s actual
GDP growth (measured on a year-over-year basis rather than on
an annualized sequential change) may have been greater than
the reported 6.9% in the first quarter of 2017. This could be
rationalized by the conjecture that the actual growth in early
2016 may have been lower than the reported 6.7%.

One indicator of China’s strong growth is the year-over-year
changes in its imports as shown in CHART 4. Imports surged
24% year-over-year in U.S. dollar terms, and 31% in renminbi
terms during the first quarter of 2017. To be fair, part of the
surge was due to the rebound in commodity prices. However,
China’s $58 billion import from Germany and Japan, two non-
commodity countries, was still up an impressive 17% year-on-
year. In the first quarter of 2016, China’s imports from those two
countries had declined 10%.

2011

Mlle Chinese Real GDP Year-over-Year (Right Hand Side)

2012 2013 2014 2015 2016 2017

Source: Bloomberg

We believe China’ strong reflation, thanks to the infrastructure
buildout and the unprecedented property price increases in
major cities, may have been the most impactful yet under-
appreciated catalyst that fueled the synchronized global
economic recovery since the summer of 2016. The good news
is that China’s growth is likely to remain healthy for the
remainder of 2017, as stability is paramount ahead of the
quinquennial power transition this autumn. However, the
uncertainty starts to rise as we look beyond 2017.

Shadow Boxing

Over the past few years, China watchers have been urging
Chinese policymakers to introduce bold reforms and market
forces to tackle the country’s rapidly growing leverage, over
capacity, and housing bubble. However, with stability being of
utmost importance, policymakers could not afford to take a
chance with the market's invisible hand. Tough reforms in the
context of slowing economic growth also ran the risk of
jeopardizing social stability. Now, however, with the economy
ona much stronger footing, Chinese policymakers have started
to push through some needed reforms.

CHART 3: LI KEQIANG INDEX VERSUS YEAR-OVER-YEAR PRICE CHANGE IN CHINESE PROPERTIES

30%
25%
20%
15%
10%

5%

0%
-5%
-10%

2005 2006 2007 2008 2009 2010

Mumm || Kegiang Index

GLOBAL FORESIGHT THIRD QUAPTER 2017

2011

Mls «Year-over-Year Price Change in Chinese Properties

2012 2013 2014 2015 2016 2017

Source: Bloomberg

HOUSE_OVERSIGHT_012086
"
IMAGES-003-HOUSE_OVERSIGHT_015118.txt,"Woodward and Bernstein were not the only ones with reliable
sources. According to one of my contacts in the intelligence community,
the Democrats’ first choice for a presidential candidate in the 1976
elections was a southern governor—Askew of Florida—but their analysts
calculated that Jimmy Carter’ s resemblance to Howdy Doody would
provide a subconscious association in the minds of voters who were
weaned on that folksy puppet.

What the American public does not realize is the impact of the long-
range planning that goes on in think tanks such as Stanford Research, the
Rand Corporation and the Hudson Institute. They are already beginning to
orchestrate the Bimillennium, the 2000"" birthday of Christ. The function of
Jimmy Carter—with all his religiosity and his talk about not living in sin—is
to provide an opening wedge for the Christianization of the United States.
The arms manufacturers would be well pleased by a repeat performance of
the Crusades. After those Korean bribes via Reverend Moon’ s Unification
Church and the brainwashing of the Moonies, they’ Il finally figure it’ s
time to make Christ an American again.

Incidentally, Billy Graham recently tried to convert me, the same way

he did with that professional gangster, Mickey Cohen. “Think what it

HOUSE_OVERSIGHT_015118
"
IMAGES-009-HOUSE_OVERSIGHT_026606.txt,"Obama's aides say he has not yet made up his mind on whom to nominate and won't announce a choice until
after the Nov. 4 elections, in part to avoid making the nominee into a political issue facing embattled
Democratic candidates. They say he also hasn't decided whether to seek confirmation in the Senate's lame duck
session later this year or to wait until the new year, when Republicans are expected to pick up seats if not win
outright control.

White House chief of staff Denis McDonough said in a statement, ""Kathy is someone who always tells it like it
is, is a world class lawyer and remains a trusted adviser to the president. Anyone who knows Kathy knows she
has impeccable judgment, extraordinary foresight and is a formidable force. But she is also as selfless as they
come, and the president is proud to call her a close friend.”

Follow Nedra Pickler on Twitter at https://twitter.com/nedrapickler

The information contained in this communication is intended for the use
of the designated recipients named above. If the reader of this
communication is not the intended recipient, you are hereby notified

that you have received this communication in error, and that any review,
dissemination, distribution or copying of this communication is strictly
prohibited. If you have received this communication in error, please

notify The Associated Press immediately by telephone at +1-212-621-1898
and delete this email. Thank you.

[IP_US_DISC]

msk decc60c6d2¢3a6438f0cf467d9a4938

HOUSE_OVERSIGHT_026606
"
IMAGES-008-HOUSE_OVERSIGHT_025746.txt,"Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 199H5523-50A5-456B-8376-E67C07029

Re Venic 4

82D

Message: Not sure what your schedul

Sender: iy

Time: 08/27/18 03:02:00 PM (557100120)

Flags: 1060865
Is Read: Yes

Is Invitation: No

=

GUID: AD602A14-3AA8-463C-976B-819745E55

E20

Message: Working everything out

Sender: e:jeeitunes@gmail.com

Time: 08/27/18 04:28:09 PM (557105289)

Flags: 1085445
Is Read: No

Is Invitation: No

GUID:

Message:
micro.

Im happy to send a plane

Sender: e:jeeitunes@gmail.com

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Flags: 1085445
Ts Read: No

Is Invitation: No

2DEAD3D5-901C-45F6-9484-DF965EAAF503

7]

GUID: O08A1800E-AA23-4FD9-973A-656BEB2FE

B34

Message: miro

Sender:

Time: 08/27/18 04:33:17 PM (557105597)

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Is Read: Yes
Is Invitation: No

GUID: OOSABDA7-6353-4B55-AF 9A-40AFE4B33

Message: K

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Time: 08/28/18 11:15:38 AM (557172938)

Flags: 1150981

Is Read: No

916

thes

Deplorable 9th? Etc

to pick you up in wash and bring you down to me and

HOUSE_OVERSIGHT_025746
"
IMAGES-006-HOUSE_OVERSIGHT_021892.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

69

indicated to me, since he was being represented
by very experienced legal counsel, that there was
more than an insignificant risk of incriminating
himself if he answered that.

And so Jeffrey Epstein now had taken the
Fifth. And one of the things that I was aware of
having been involved in, you know, civil
litigation and criminal litigation in other
cases, once somebody refuses to answer a question
like, you know: Do you know Mr. Dershowitz, and
they take the Fifth on that, that you're then
entitled to draw what's called an adverse
inference. You can infer that, well, if they
answered that question --

MR. SCAROLA: Excuse me.

MS. McCAWLEY: Yeah, I want to make an
objection here --

MR. SCAROLA: Pardon me. Could you please
try to control your client who keeps jumping up
and down and distracting everybody in the room?

MS. McCAWLEY: Yeah, and there was also
profanity used earlier. I mean, we just have to
settle down on this side, take a deep breath, and
let him answer his questions.

MR. SIMPSON: Look, I mean, the same thing

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021892

"
IMAGES-007-HOUSE_OVERSIGHT_023414.txt,"In re: TERRORIST ATTACKS ON SEPTEMBER 11, 2001., 2012 WL 257568 (2012)

oF

98

99

00

01

02

03

04

05

06

07

08

09

113

114

LAS

116

JA4394,

JA3662, 3665, 3671, 3677-81, 4399-4401.
JA4024-30.

JA3785, 3870, 4318-19, 4529.
JA3832-33, 4302-05, 4314-20, 4528-45.
JA3870, 4528-45.

JA3724-28, 3832-33, 4302-05, 4314-20.

The district court dismissed the Burnett ATA claim against Al Rajhi Bank. SPA55-57 (Terrorist Attacks I). The district court also
dismissed the remaining ATA claims against Al Rajhi Bank brought on behalf of the other plaintiff groups. SPA63, 65-66.

SPA99-103 (SAMBA JT; SPA57-58 (Terrorist Attacks I). The district court also denied plaintiffs’ motions for leave to amend their
pleadings, SPA103-04 (SAMBA J), and for reconsideration of the denial of their leave to amend, SPA111-15 (SAMBA IN). See infra
82 n.113.

SPA245 (Terrorist Attacks V).

SPA246-47 (Terrorist Attacks V); SPA109-10 (DMI-Kamel); SPA59-60 (Terrorist Attacks J).

SPA246-47 (Terrorist Attacks V); SPA109-10 (DMI-Kamel); SPA59-60 (Terrorist Attacks I).

See infra pp. Point I.C (discussing treatment of support in mid-1990s).

See infra pp. Point I.B (discussing district court’s treatment of pleadings regarding defendants’ mental state).
SPA245-46 (Terrorist Attacks V); SPA106, 110 (DMd-Kamel); SPA102-03 (SAMBA I); SPAS55 (Terrorist Attacks I).

A bank’s provision of banking services constitutes material support of terrorism if the services were provided “knowing or
intend[ing] that such provision would generally facilitate ... terrorist activities ...” Wultz, 755 F. Supp. 2d at 44-46; see also Linde,
384 F. Supp. 2d at 588 (“[G]iven plaintiffs’ allegations regarding the knowing and intentional nature of the Bank’s activities, there
is nothing ‘routine’ about the services the Bank is alleged to provide”); Weiss, 453 F. Supp. 2d at 625 (“Where the Bank knows
that the groups to which it provides services are engaged in terrorist activities even the provision of basic banking services may
qualify as material support” (quotation marks and citation omitted)).

Contrary to the district court’s findings, SPA112-14 (SAMBA I), SPA103-04 (SAMBA J), the proposed amendments to plaintiffs’
pleadings clearly did sufficiently allege, inter alia, that Saudi American Bank had the requisite mental state when it provided
material support to Osama bin Laden and al Qaeda. R.1926, pp. 3-6, n.10. Accordingly, if this court finds that the pleadings do not
state a claim for relief, this Court should remand this claim for the district court to revisit its denial of the motion for
reconsideration of its denial of the motion for leave to amend.

This report was published subsequent to the initial briefing below, and submitted in connection with plaintiffs’ opposition to
NCB’s renewed motion to dismiss. However, the facts reflected in the report were of record from the outset, as reflected in
plaintiffs” pleadings as to Al Rajhi Bank.

The annex lists nine treaties, including the Convention for the Suppression of Unlawful Seizure of Aircraft, done at the Hague on
16 December 1970; the Convention for the Suppression of Unlawful Acts against the Safety of Civil Aviation, done at Montreal on
23 December 1971; and the International Convention for the Suppression of Terrorist Bombings, adopted by the General Assembly
of the United Nations on 15 December 1997.

See R.111-2, at 71-74. In the context of the previous appeal as to Saudi Arabia, this Court noted that plaintiffs’ allegations
concerning the terror sponsorship activities of the Saudi government charities “include a wealth of detail (conscientiously cited to

WESTLAW

HOUSE_OVERSIGHT_023414
"
IMAGES-011-HOUSE_OVERSIGHT_031818.txt,"From: Paul Barrett [i

Sent: 7/13/2018 6:57:15 PM

To: jeffrey E. [jeevacation@gmail.com]
cc: Richard Kahn

Subject: RE: AVGO

Attachments: image003.jpg; image004.jpg

Importance: — High

We own 8000 shares on the thesis that their growing exposure to data center capex spend would be a big positive for
the stock.

Recommendation: Keep the stock and buy Aug $200 puts on the 8000 shares costing $6.50 or $52,000. Nothing has
changed regarding their core business. Data center spending is not going to change based off this M&A transaction.
However if | am wrong and the market further penalizes the stock at least our losses are contained. The stock has
dropped $40 and | think we could easily recoup our premium if the market buys into the CEO’s reason for the merger.

If | never had a position | would absolutely buy the stock using options. | would be selling October $185 puts and buying
Oct $220 calls costing 50c/share.

Paul

Paul Barrett
Alpha Group Capital LLC
142 W 57"" Street, 11° Floor, New York, NY 10019

CX | Br cae
CAPITAL

From: jeffrey E. <jeevacation@gmail.com>
Sent: Friday, July 13, 2018 2:18 PM
To: Paul Barrett

Subject: Re: AVGO

Again?? How many puts ? What are the alternatives. The fact tgat you iwn thd stock at a higher price is affecting your
decision. Sorry. This is judt ridiculous!!! Would you buy the stock here . ???? If you would would you also buy puts
??? My patience is at its end

On Fri, Jul 13, 2018 at 2:13 PM Paul Barrett i wrote:

My initial recommendation this morning was to buy the $200 Aug puts. | still think that is the best idea. The stock is
now down 16% on a deal that no one fully understands. The CEO has a good track record regarding mergers. So | think
it makes sense to keep the stock and own protection for the next 35 days until we hopefully get more clarity from
management.

Paul Barrett

HOUSE_OVERSIGHT_031818
"
IMAGES-004-HOUSE_OVERSIGHT_017509.txt,"Onn WF WHY PH

ann mnF® WDM FB

A. What does it say? Say it again.

Q. It says, ""The first deposition occurred on
July 27th,” correct?

A. Yes.

Q. Some three days after the federal complaint
was filed, correct, that we referenced earlier?

A. That's correct.

Q. And Paragraph 6 clearly delineates that in
August 2009 a phone call was received by the
cooperating witness that explained that this
Mr. Rodriguez had a list of other purported victims or
contact information for people who Mr. Edwards could
also potentially bring Jawsuits for -- on behalf of;
is that correct?

A. ] don't know one way or the other. You
know, Tonja, just so this record is clear, you know,
as ]'m sitting here, ] have a vague recollection of
perhaps Ken Jenne coming, talking to me and telling me
that someone in my office was going to cooperate with
someone in this investigation. But for the life of
me, } can't be certain of that. So much time has
passed, but as J'm reading this, and it could be
completely unrelated to this, ] just want to make sure
the record is a hundred percent clear, it's possible
that Ken Jenne discussed that with me, but ] don't

Page 74

know who it was.

Q. You are testifying that you didn't know it
had anything to do with the Epstein case, as you sit
here now, you don't remember?

A.* No, no, | don't have a specific
recollection, and ] want to just make sure so ] answer
all your questions completely, is that as I'm sitting
here my recollection was refreshed that ] have a vague
recollection of having a conversation with Ken Jenne
about the fact that someone in our office was going to
cooperate as a confidential informant for some law
enforcement agency, | just can't remember if it was
the Epstein case or not.

Q. Do you recall what you said to Mr. Jenne
about that?

A. No. What 1 just related to you is all 1
remember. And |'m not even sure it had anything to do
with this.

Q. Who's Wayne Black?

A. Who?

Q. Wayne Black.

A. Sounds like the name of someone | hired, but
1 could be mistaken. ] don't recall.

Q. Okay. You don't recall ever meeting
Mr. Black?

se tanta ai chage secrete

|

tag PN None neL tenes oom cI ere!

soa SENG ar at cere ne een ara ari A pe a inne
OB WNE DMO WAIA YP WNFOUW DWwAInan OB WNP

MMNYMNMYNHY NYFF EPP PPE BEB

sn

Zz
2g

Oo pWNHrF OW MAA OO HBWNHEPOUODAIHRDATAWNEHE

 SERSIICRITGLSGAIR NAAR ADT NS PSNR PE POT NU EE EE EN SEE LPN MESSE AE SEE MES ROE ES ITN RE ERE EAN RA EE EPR OR ES
NMONNONNYNEE RPP EPP PPP

A. | may have. | don't recall one way or the
other. You have something that might refresh my
recollection?

Q. Do you know what he does for a living?

A. |] do know the name. Sounds familiar to me,
but | can't recall one way or the other who he was or
what he did.

Q. Did you instruct your office to begin
investigating Mr. Epstein's pilot or his airplanes?

A. J do not recal) one way or the other.

Q. You did testify that the flight manifest was
the one document you recall] for sure looking at in
Mr. Epstein's case; is that correct?

A. Yes.

Q. And if it did, in fact, contain the names
that you are purporting that it claimed or that you
knew of, that would be something that would be juicy
for the investors to further your Ponzi scheme that it
was a collectible case; is that true?

A. I'm sorry, you have to repeat the question,
Tonja. | don't understand what you just asked me.

Q. If these big names were on this list, as you
seem to recal] they were, that would be most helpful
to you and your Ponzi scheme investors in convincing
them it was a big case, right?

Page 76

A. Ifthey were on there, or if ] lied to them

""and told them they were on there, or if Adler told me

they were on there and | repeated, ali those things
would have been helpful to the Ponzi scheme.

Q. You stated earlier that you -- the only
thing you looked at was the flight manifest because
you were told to look at it. Is that still true?

A. That's not what I testified to. J testified
that I flipped through other parts of the file and
that I didn’t remember what J had flipped through. |
remember looking at the flight manifest because
Mr. Adler told me about it.

Q. You said that you met these investors in
your office, but there were no cameras in your office,
correct?

A. I didn't have cameras specifically in my
office.

Q. You had these investors in your office for
this particular Epstein case?

A. Yes.

Q. Do you recall if it was during work hours or
after work hours?

A. Ido not recall.

Q. Typically when you were meeting with your
potential Ponzi investors, did you meet them during
Page 77

20 (Pages 74 to 77)

FRIEDMAN, LOMBARDI & OLSON

305-371-6677
5ed93085-0554-4471-bcdd-ca2d8fe941 df

HOUSE_OVERSIGHT_017509
"
IMAGES-004-HOUSE_OVERSIGHT_016617.txt,"Code Enforcement Board Meeting Minutes 07/17/08

V. Public Hearings:

A. Case # 08-2431, 434 Seaspray Ave., Christopher Kaufman
Violation of Chapter 18, Section 18-242, Subsection 1 (104.1.1) of the Town of
Palm Beach Code of Ordinances, building permits required to construct, install,
repair or alter any building or building system.

Lead Code Enforcement Walton requested the case be postponed until a date
certain of September 18, 2008 as Mr. Kaufman has a hearing before the Town
Council.

MOTION BY MS GREENBERG TO POSTPONE THE CASE UNTIL
SEPTEMBER 18, 2008

SECONDED BY MR. OCHSTEIN

MOTION PASSED UNANIMOUSLY

B. Case # 08-2511, 114 N. County Rd., Palm Beach Affair
Violation of Chapter 46, Section 46-68 of the Town of Palm Beach Code of
Ordinances, annual fire and life safety inspection fees not paid

Code Enforcement Officer Gerry requested the case be dismissed as the fees were
paid and it came into compliance.

MOTION BY MR. FRIED TO DISMISS THE CASE
SECONDED BY MS. GREENBERG
MOTION PASSED UNANIMOUSLY

C. Case # 08-2512, 235 Sunrise Ave., Suite C8, Palm Beach Resorts International
Violation of Chapter 46, Section 46-68 of the Town of Palm Beach Code of
Ordinances, annual fire and life safety inspection fees not paid

Code Enforcement Officer Gerry presented the facts of the case and said the Town
recommends a finding of non-compliance, administrative costs in the amount of
$150.00 and payment of the fire inspection fee in addition to any late penalties by
July 21, 2008. Mr. Hoffman inquired about the late penalties and Mr. Gerry said
they were based on a monthly penalty of 10% per month. In response to Mr.
Ochstein’s question, Mr. Gerry explained that both the business and the property
owner were cited. Mr. Fried inquired about service and Mr. Gerry said it was sent
by certified mail. Mr. Ballentine asked if any attempts, other than by mail, were
made to get in touch with someone at the business. Mr. Gerry said he went to the
business, was told the owner was difficult to reach and left his business card but
had not received any response.

HOUSE_OVERSIGHT_016617
"
IMAGES-009-HOUSE_OVERSIGHT_027518.txt,"Is Invitation: No

GUID: 91640502-5941-4861-9292-4FCE92360666

Message: Steve brought him from obscurity ,

Sender:

Time: 11/14/18 05:53:53 AM (563896433)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 38A99829-B635-4676-ADC2-EF200D40A2A4

Message: Really? I didn't know that

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r,

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Message: It will be our first real meeting

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Message: A kansas congressman.

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a tea party member into the limelight

HOUSE_OVERSIGHT_027518
"
IMAGES-006-HOUSE_OVERSIGHT_020540.txt,"81

From 1980, Beijing added to its stable of foreign-facing propaganda publications—such
as Beijing Review, China Reconstructs, and China Pictorial—by starting or reopening
more than twenty periodicals, including the English-language China Daily, the overseas
edition of the People’s Daily, the overseas edition of Outlook (#), and the Voice of China
(44748). The Party also resumed publishing material for overseas Chinese. During the
Cultural Revolution, the number of magazines targeting overseas Chinese had shrunk
to ten, whereas by the end of the 1980s, it had surpassed 130. Before 1982, the state-run
Xinhua News Agency had focused almost solely on providing news to domestic Chinese
clients. In 1983, however, it also began sending news to international clients. The China
News Service, which had suspended operations during the Cultural Revolution, also
resumed work, sending hundreds of stories a day to overseas Chinese-language media.
Today the CNS employs more than two thousand people worldwide, working out of
forty-six bureaus. The Party directed its media outlets in their overseas work to support
socialism with Chinese characteristics, push the policies of reform and opening up, and

oppose hegemonism, or, in other words, fight against Western ideological control.

In the run-up to the 2008 Beijing Olympics, China’s propaganda agencies redoubled
their efforts to “grab the right to speak,” or gain “discourse power” (ifiB 4X).

The worldwide torch-lighting ceremony touched off free-Tibet rallies and other
human rights protests that angered Chinese authorities and some Chinese as well.

An anti-CNN movement began in China, alleging that Western media outlets were
distorting “China’s story.” This was the genesis for what has come to be known as the
Grand Overseas Propaganda Campaign (AJB), first promoted by the administration
of Party Chief Hu Jintao and Premier Wen Jiabao. The International Herald Leader, a
publication of the Xinhua News Agency, reported in 2009 that foreign propaganda
work had been elevated by the Party to a “systematic, strategic position,” the goal of
which was to “grab back the right to speak, and improve China’s international image.”’
Reports that had first surfaced in Hong Kong’s South China Morning Post in 2009, that
China had earmarked $7 billion for the campaign, were soon repeated by the Chinese

media, most notably in the March 14 edition of Phoenix Weekly.®

The Grand Overseas Propaganda Campaign has been grand, indeed, with Chinese
sources reporting hundreds of millions of dollars being spent on a multitude of projects
designed to bolster China’s image. The expansion of the Xinhua News Agency is but
one example. From 120, the number of Xinhua bureaus around the world has now
grown to more than 200’ and its client base has expanded to more than 1,450, What is

more, it now reports in seven languages and competes directly with all the major wire

Section 6

HOUSE_OVERSIGHT_020540
"
IMAGES-009-HOUSE_OVERSIGHT_026612.txt,"From: ee

Sent: 3/29/2015 2:22:23 PM
To: jeevacation@gmail.com
Subject: Fwd: Do you know this Guy? You should

Attachments: MailAttachment.jpeg; MailAttachment.joeg; MailAttachment.jpoeg; MailAttachment.jpeg

Importance: — High

From:
To:

ee
Sent: 3/28/2015 5:59:43 P.M. Eastern Daylight Time
Subj: Fwd: Do you know this Guy? You should

From: Sample, Elizabeth <i

To: Norman D. Rau
Sent: Sat, Mar 28, 2015 5:24 pm
Subject: Fwd: Do you know this Guy? You should

Elizabeth Lee Sample

Senior Global Real Estate Advisor/Associate Broker
Sotheby’s International Realty

38 East 61st Street

New York, NY 10065

http:/Awww.samplepowers.com/
Click here to view my listings

Karlie Jamison
Licensed Salesperson/Executive Administrator

Begin forwarded message:

From: ""Fitz Corr"" < n>

Date: March 27 4. M EDT

To: ""Fitz Corr""

Subject: Do you know this Guy? You should

HOUSE_OVERSIGHT_026612
"
IMAGES-001-HOUSE_OVERSIGHT_012092.txt,"14

MARIELA M. VARGOVA, PH.D.

The Promise of Governance

Reform—South Korea

n his inauguration speech on May 10th, the newly elected

South Korean President Moon Jae-In vowed to put chaebol

reform at the forefront of his political and economic agenda.
“Under the Moon Jae-In administration,” he asserted, “the
collusive link between politics and business will completely
disappear.’ The promise of meaningful governance reform
comes in the wake of the biggest political corruption scandal in
Korea that saw the impeachment and the arrest of democratically
elected President Park Geun-Hye on charges of “collecting or
demanding $52 million in bribes”? from Samsung, one of
Korea’s largest family-owned conglomerates, known as chaebol.

The presidential scandal in Korea also led to the latest high-
profile corporate arrest in the country. In February, Jay Y. Lee,
vice chairman and acting leader of Samsung’s conglomerate
empire, was arrested on accusations of bribery to former
President Park and her inner circle in exchange for securing a
controversial merger of Samsung Construction and Trading
Corporation and Cheil Industries. While the image of a
handcuffed Lee sent shockwaves across the business world, his
arrest was not unprecedented. In the past, his father Lee Kun-
Hee, current chairman of Samsung, was convicted twice of
corruption and pardoned. Similarly, in 2007, Hyundai’s
Chairman Chung Mon-Koo was found guilty of fraud and
pardoned. And in 2013, SK’s Chairman Chey Tae-Won was
convicted of embezzlement and later pardoned.’ The family-
owned conglomerates have long dominated the economic life
of modern Korean society, accounting for roughly 50% of the
total share of the Korean stock market. Their close ties with the
government and state bureaucracy have fueled growing public
distrust and frustration with the nation’s leadership and has led
to increased shareholder discontent.

Korea’s Governance Practices

The collusion of politics and business in Korea highlights the
poor practices of corporate governance and business ethics.
Corporate governance studies on Asia consistently rate Korea as
lagging in governance behind leaders in the region.* Korea
underperforms its peers in the areas of board independence,
ethics and transparency in corporate governance.

GLOBAL FORESIGHT THIRD QUAPTER 2017

Senior Vice President,
Senior Sustainability
and Impact Analyst

212.549.5236

mvargova@rockco.com

Korea, however, has not always been viewed as the laggard in
Asia’s governance landscape. Right after the Asian Financial
Crisis of 1997-1998, the country underwent important
governance reforms that sought to quickly and significantly
increase corporate board independence and the overall
governance of publicly-traded Korean companies. For instance,
the proportion of listed firms with at least one outside director
grew from 34% in 1999, to 62.3% in 2000, to reach 94% in 2007.°
In 2001 and 2003, the country’s Security Exchange Acts required
large listed companies (those with about $2 billion in market
capitalization) on the Korea Exchange and KOSDAQ to have at
least three outside directors and for one half of their boards to
be independent. In 2004, the board independence requirements
were further strengthened with the stipulation that there be a
majority of independent board directors for large companies.
This is on par with leading international best practices in
corporate governance. The Korean Commercial Code also
stipulates that outside or independent directors must not be
related to management while acting as fiduciaries.® This
resonated with the impetus towards greater board independence
to mitigate the role of corporate insiders and create new
independent auditing structures within Korean corporations.

In 2012, the Korean Commercial Code was revised to further
enhance the board’s fiduciary duties. It required the approval of
two-thirds of directors for all internal transactions and for new
business dealings with third parties. If transactions or deals
benefit founding families or management at the expense of
minority shareholders, the approving directors will be personally
liable for the losses.’

Notwithstanding these developments towards good governance,
ethics controversies involving Korean chaebols surged over the
past several years. A prime example is the notorious Hyundai
Motor land bid in 2014 for which the company paid the excessive
price of $10 billion, three times the land’s market value of $3
billion, angering investors and hurting shareholder value.
According to reports, while the boards of directors of Hyundai
consortium companies voted to unanimously approve the deal,
the company’s outside directors were kept in the dark about the
price as it was considered by management to be a confidential
matter. All these instances point to a serious lapse in the

HOUSE_OVERSIGHT_012092
"
IMAGES-006-HOUSE_OVERSIGHT_021886.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

63

I'll stop there, but those -- that's -- I think gives
you a small flavor of the kind of evidence that, you
know, was undergirding the allegations that were being
presented here.

Q. It sounds like you quite passionately believe
that there was strong evidence that Mr. Epstein had
engaged in sexual misconduct; is that right?

A. I think ""strong"" understates it.

Q. In the course of that long answer, you didn't
mention Professor Dershowitz's name once.

A. I said flight logs. Let's talk about flight
logs.

Q. Let me back up. You didn't answer his
name -- mention his name once; is that your recollection
as well?

A. That's correct. We were talking about a
factual basis and I'11 be glad -- I told you that there
were other things if you want, factual basis for
Mr. Dershowitz, I'l] be glad to add that in. Let me --

I would like to supplement my answer then if I could.

Q. Do you want to look at a document?
A. Yes.
Q. Let me first -- have we exhausted your

recollection without documents of all the evidence that

you would refer to to support the allegation that

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021886

"
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Message: Did you connect with miro

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Gl
QO

Message: ?

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Message: Haven't connected

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Message: Are you around Monday ?

Sender: e:jeeitunes@gmail.com

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Message: ny

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HOUSE_OVERSIGHT_025752
"
IMAGES-007-HOUSE_OVERSIGHT_023400.txt,"In re: TERRORIST ATTACKS ON SEPTEMBER 11, 2001., 2012 WL 257568 (2012)

involve a violation of a norm of customary international law that is “(1) universal and obligatory, (2) specific and definable,
and (3) of mutual concern [to States.]” Abdullahi v. Pfizer, Inc., 562 F.3d 163, 177 (2d Cir. 2009), cert. denied, 130 S. Ct.
3541 (2010). As the district court recognized, SPA233 (Terrorist Attacks V), aircraft hijacking has long been recognized as a
violation of international law that meets these criteria and can give rise to tort claims under the ATS. See, e.g., Kadic v.
Karadzic, 70 R3d 232, 239 (2d Cir. 1996); cf United States v. Yunis, 924 F.2d 1086, 1092 (D.C. Cir. 1991). What the district
court failed to recognize, however, is that the broader concept of international terrorism is also a violation of customary
international law that is actionable under the ATS, and plaintiffs adequately alleged that defendants engaged in, and aided
and abetted, illegal acts of international terrorism.

*123 A. Plaintiffs Alleged That Defendants Violated the ATS By Intentionally Facilitating International Terrorism

The Burnett plaintiffs allege that “the Defendants, individually, jointly and severally, aided and abetted, sponsored, financed,
promoted, fostered, materially supported, or otherwise conspired to proximately cause the death and injury of innocent
persons namely the Plaintiffs herein through and by reason of acts of international terrorism -- the heinous attacks of
September 11, 2001.” JA970. “As a result and proximate cause of the Defendants’ sponsorship of terrorism in violation of the
law of nations and customary principles of international law, the Plaintiffs suffered injury and damages as set forth herein.”
JA972. Such allegations state a claim under the ATS because facilitation of international terrorism is a violation of customary
international law that is universal, obligatory, specific and of mutual concern to States.

B. Acts of International Terrorism are a Violation of Customary International Law

In considering whether alleged violations of customary international law are universal, obligatory, specific and of mutual
concern to States, courts consider whether the conduct is banned by international conventions and treaties ratified by an
overwhelming majority of States, *124 condemned by binding United Nations Security Council resolutions, and repudiated
by individual nations. See, e.g., Flores v. S. Peru Copper Corp., 414 F.3d 233, 256-57, 261-62 (2d Cir. 2003); Filartiga v.
Pena-lrala, 630 F.2d 876, 881-84 (2d Cir. 1980). Because the Constitution specifically gives Congress the power to “define
and punish ... Offenses against the Law of Nations,” U.S. Const., art. I, § 8, cl. 10, courts should also accord deference to
Congress’s determination of what conduct constitutes an offense under the law of nations. See, e.g., Ex parte Quirin, 317
USS. 1, 26 (1942).

Plaintiffs have stated valid ATS claims because international conventions, U.N. Security Council resolutions, the domestic
laws of many nations, and laws enacted by Congress pursuant to its authority to define and punish offenses against the laws
of nations all demonstrate that there is a universal and obligatory norm against the commission of and material support of
international terrorism alleged here -- namely, transnational acts intended to cause death or serious bodily injury to civilians
for the purpose of intimidating the population or compelling a government to do some act or refrain from acting.

*125 I. United Nations Security Council resolutions

The U.N. Security Council has adopted numerous resolutions condemning international terrorism and support for
international terrorism. In 1998, for example, the Security Counsel adopted a resolution “[s]trongly condemn[ing] the
terrorist bomb attacks” on the U.S. Embassies in Kenya and Tanzania on August 7, 1998 “which claimed hundreds of
innocent lives, injured thousands of people, and caused massive destruction to property.” S.C. Res. 1189, U.N. Doc.
S/RES/1189 (Aug. 13, 1998) at § 1. Later in 1998, the Security Council issued a resolution expressing concern about the
“continuing use of Afghan territory, especially areas controlled by the Taliban, for the sheltering and training of terrorists and
the planning of terrorist acts, and reiterating that the suppression of international terrorism is essential for the maintenance of
international peace and security.” S.C. Res. 1214, U.N. Doc. S/RES/1214 (Dec. 8, 1998) at preamble and 7 13 (emphasis in
original). In addition to the Security Council, the U.N. General Assembly has also adopted resolutions condemning
intentional terrorism, including the provision of support to terrorists. See, e.g., G.A. Res. 210, U.N. GAOR, 51st Sess., Annex
1 at 6, U.N. Dec. A/RES/51/210 (1997) (declar[ing] that knowingly *126 financing, planning and inciting terrorist attacks are
... contrary to the purposes and principles of the United Nations”).

WESTLAW

HOUSE_OVERSIGHT_023400
"
IMAGES-004-HOUSE_OVERSIGHT_016603.txt,"Code Enforcement Board Meeting Minutes 04/17/08

Hil.

IV.

VI.

Election of Officers

Mr. Randolph asked for nominations for the position of Chairman. Ms. Van Buren and
Ms. Greenberg jointly nominated Mr. Hoffman for the position of Chairman. There were
no other nominations. Mr. Randolph asked for a motion to declare a unanimous ballot in
favor of Mr. Hoffman as Chairman.

MOTION BY MS. GREENBERG
SECONDED BY MR. FRIED
MOTION PASSED UNANIMOUSLY

(Mr. Koeppel arrived at the meeting just after the vote for Chairman)

Mr. Randolph opened the floor for nominations for Vice Chairman. Ms. Van Buren
nominated Mr. Fried and the nomination was seconded by Ms. Greenberg. Mr. Ochstein
nominated Mr. Koeppel. A ballot was passed around and Mr. Randolph asked that it be
initialed by the voting member. Mr. Hoffman informed Mr. Ballentine that since Mr.
Koeppel was now present, he would resume being an alternate for the remainder of the
meeting.

Mr. Fried was voted in as Vice Chairman by member ballot and congratulated by Mr.
Hoffman.

Approval of the Minutes of March 20, 2008:

MOTION BY MS. DUEMLER FOR APPROVAL OF THE MARCH 20, 2008
MINUTES

MOTION SECONDED BY MR. KOEPPEL

MOTION PASSED UNANIMOUSLY

Administration of the Oath to all persons who wish to testify:

Let the record show that all persons wishing to testify were sworn in at this time by
Recording Secretary Raychel Houston.

Public Hearings:

A. Case # 08-2431, 434 Seaspray Ave., Christopher Kaufman
Violation of Chapter 42, Section 42-87 of the Town of Palm Beach Code of
Ordinances, accumulation of discarded, unusable material on property.

Lead Code Enforcement Walton said this case had been postponed from a
previous meeting and he was requesting a further postponement until the May 15,
2008 Code

HOUSE_OVERSIGHT_016603
"
IMAGES-005-HOUSE_OVERSIGHT_019179.txt,"rERSON

Jear, you wouldn't do more.

5 concerned. What did she tell
m?

vall, when she came downstairs
tairs, me and her and [redacted],
o the car. And I-was like, “How
e, “Three hundred dollars.” And 1
»w right then she did more.

right?

was like, “Well, what'd you do?”
siving a massage, and then my
ow, he put his fingers inside me.
> massager.” And that’s basically

| talk to me. It’s all right.

talking about it, now that I—I
m.

know what, we all go through
at | mean? It’s an experience. And

- behind you.

you brought over —how did you
were going to have to do this..-
rk, how did you approach them?

in Palm Beach?”
rere my friends. The others were,

was a little more easier talking t0 ©

I knew them.

62

Fittuy Ricu

RECAREY: Take a deep breath. Take a deep breath. Cause I can
see you're working up again. You're working up the tears, I
can see it, and I don’t want to get you like that.

DOBBS: I, um, pretty much I just would ask them—

RECAREY: Straight up?

DOBBS: “If you're looking for extra money, let me know; this guy
down in Palm Beach, he’s really, really, really wealthy. You
have to give him a massage.” That's all I would tell them.
Then, if they were interested or told me, “Yes, I want to do i?
Id go into detail with them before they’d actually agree. If
they told me, “Yeah, that sounds good, I’m interested,” then
I'd tell them, “Okay, well I’m gonna let you know, this is what
you have to do, this is what’s gonna go on.”

RECAREY: Did you tell them that you were going to make money
from bringing them over? Or —

DOBBS: Most part? I believe they knew....Most of the girls, we
were open about that. We didn’t— they pretty much knew I
was making money under the table. So...

RECAREY: Okay. Gimme two seconds. Let me get the soda....
Gimme two seconds.

All right, I talked to my boss a little bit—

FRICK:— Which is why I’m here.

DOBBS: Okay.

FRICK: Obviously I was listening to what you were saying. And
at this point you clearly implicated yourself on a crime, okay?
You've taken girls to somebody’s house for the purpose of
Prostitution. More importantly, more significantly, one of
those girls was fourteen at the time, okay? Now that’s a pretty
Significant second-degree felony, okay? I’m not going to kid

63

HOUSE_OVERSIGHT_019179
"
IMAGES-001-HOUSE_OVERSIGHT_010685.txt,"OGE Form 278¢ (March 2014)

Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.

Filer's Name

Reference #

Entity Name
TRUMP EDUCATION ULC

Has ownership interest in:

Ownership Title
100.00% Shareholder

202 THE TRUMP ENTREPRENEUR INITIATIVE LLC (NY DOMESTIC) *(1)

Owned by: % Ownership
0.4
35
45
91,9
Has ownership interest in: Entity Name
THE TRUMP ENTREPRENEUR
INITIATIVE LLC
203 THE TRUMP FOLLIES LLC *(3)
Owned by: % Ownership
t
99
204 THE TRUMP FOLLIES MEMBER INC. *(3)
Owned by: % Ownership
100
Has ownership interest in: Entity Name
THE TRUMP FOLLIES LLC
205 The Trump Hotel Corp. *(3)
Owned by: % Ownership
100

206 THE TRUMP MARKS REAL ESTATE CORP *(1)

Owned by: % Ownership
100
Has ownership interest in : Entity Name

TRUMP MARKS REAL ESTATE LLC

207 The Trump Organization, Inc. *(3)

Owned by: % Ownership

100

208 The Trump-Equitable Fifth Avenue Company

% Ownership
99

Owned by:

Has ownership interest in: Entity Name
Fifty-Seventh Street Associates
LLC

TRUMP TOWER COMMERCIAL LLC

209 TIGL COMMON AREA MANAGEMENT CORP *(3)

% Ownership
100

Owned by:

a TRUMP INTERNATIONAL GOLF LINKS - DOONBEG

% Ownership
100

Owned by:

Name

DJT ENTREPRENEUR MANAGING
MEMBER LLC (FORMALLY KNOWN AS
DJT UNIVERSITY MANAGING
MEMBER LLC)

Spitalny, Jonathan

Sexton, Michael

DJT ENTREPRENEUR MEMBER LLC
(FORMALLY KNOWN AS DJT
UNIVERSITY MEMBER LLC)

Ownership
100.00%

Title
Managing Member

Name
THE TRUMP FOLLIES MEMBER INC,

DJT Holdings LLC

Name
DJT Holdings Managing Member LLC

Title
Managing Member

Ownership
1.00%

Name
DIT Holdings Managing Member LLC

Name
DTTM Operations Managing
Member Corp

Ownership
1.00%

Title
Member

Name
DJT Holdings Managing Member LLC

Name
The Donald J. Trump Revocable Trust

TIPPERARY REALTY CORPORATION

Title
Member

Ownership
99.00%
99.00% Member

Name
DJT Holdings Managing Member LLC

Name
TW VENTURE II LLC

SLECEST ,

Role
Managing Member

Member
Member
Member

Role
Managing Member

Member

Role
Shareholder

Role
Shareholder

Role
Shareholder

Role
Shareholder

Role
Partner

Partner

Role
Shareholder

Role
Sole Member

212 TIGL IRELAND MANAGEMENT LIMITED *(assets & income already disclosed on Part 2 under TRUMP INTERNATIONAL GOLF LINKS -

DOONBEG; operator of suites)

HOUSE_OVERSIGHT_010685
"
IMAGES-002-HOUSE_OVERSIGHT_013134.txt,"218 12 The Engineering and Development of Ethics

Stage Characteristics
Mature Ethics

e Formal cognitive basis

e Perry’s Relativist and “Constructed Knowledge” stages

e The abstraction involved with applying the Golden Rule
in practice is more fully understood and manipulated,
leading to limited but nonzero deployment of the Cate
gorical Imperative

e Attention is paid to shaping one’s ethical principles into
a coherent logical system

e Rationalized, moderated selfishness or selflessness.

e Empathy is extended, using reason, to individuals and
situations not directly matching one’s own experience

e Theory of mind is extended, using reason, to counterin-
tuitive or experientially unfamiliar situations

e Reason is used to control the impact of empathy on be
havior (i.e. rational judgments are made regarding when
to listen to empathy and when not to)

e Rational experimentation and correction of theoretical
models of ethical behavior, and reconciliation with ob-
served behavior during interaction with others.

e Conflict between pragmatism of social contract orienta-
tion and idealism of universal ethical principles.

e Understanding of ethical quandaries and nuances develop
(pragmatist modality), or are rejected (idealist modality).

e Pragmatically critical social citizen. Attempts to main-
tain a balanced social outlook. Considers the common
good, including oneself as part of the commons, and acts
in what seems to be the most beneficial and practical

manner.

Table 12.5: Integrative Model of the Stages of Ethical Development, Part 2

The main engine of advancement from the conventional to mature stage, we suggest, is robust
and subtle integration of the simulative and inferential components. To expand empathy beyond
the most obvious cases, analogical inference is needed; and to carry out complex inferences about
justice, empathy-guided inference-control is needed.

Finally, to advance from the mature to the enlightened stage, what is required is a very
advanced capability for unified reflexive inference and simulation. The system must be able
to understand itself deeply, via modeling itself both simulatively and inferentially — which
will generally be achieved via a combination of being good at modeling, and becoming less
convoluted and more coherent, hence making self-modeling easier.

Of course, none of this tells you in detail how to create an AGI system with advanced
ethical capabilities. What it does tell you, however, is one possible path that may be followed to
achieve this end goal. If one creates an integrative AGI system with appropriately interconnected
inferential and simulative components, and treats it compassionately and fairly, and provides
it extensive, experientially grounded ethical instruction in a rich social environment, then the
AGI system should be able to ascend the ethical hierarchy and achieve a high level of ethical
sophistication. In fact it should be able to do so more reliably than human beings because of
the capability we have to identify its errors via inspecting its internal knowedge-stage, which

HOUSE_OVERSIGHT_013134
"
IMAGES-006-HOUSE_OVERSIGHT_022357.txt,"A sale to an IDGT results in greater value for heirs than if the asset were held
outright

Cash flow example:

Scenario 1 Scenario 2: Sell asset to IDGT
Hold asset Grantor Cost of taxes

Asset held/sold to trust* $64,285,714 $64,285,714
Coverage 5,000,000 5,000,000
Gift tax on coverage

Assets from initial funding 100,544,702 7,570,535 (37,615,685) 130,589,853
Assets from cascading GRATS 72,558,032 59,045,460 (28,009,827) 41,522,399
Assets held/sold to trust** 533,859,416 533,859,416

Value of assets 2,066,664,527 763,711,690 (3,447,134,919) 4,750,087,756
Estate tax*** (1,136,115,490) (420,041,430) 1,895,924,205 -
Net wealth to beneficiaries 930,549,037 343,670,261 (1,551,210,713) 4,750,087,756

Total value to beneficiaries $930,549,037 $3,542,547,303

™ a

Value added by IDGT $2,611,998,266

1. Assets do not receive a step up in basis upon death

* Value shown is prior to assumed valuation discount of 30%, the value of assets for gift tax purposes is assumed to be $45,000,000

** Value shown is prior to assumed valuation discount of 30%, the value of assets for gift tax purposes is assumed to be $373,701,591

*** In scenario 1 an estate tax exemption of $1,000,000 is applied. This is the lesser of the $5,000,000 gift tax exemption applied to scenario 2 and the $1,000,000
applicable estate tax exemption in year 20

Assumptions: The arithmetic return of asset years 1-20=15%;of which ordinary income/short term capital gains = 15%;interest rate paid to grantor = 2.89%;

annual interest payment=$1,300,500; valuation discount = 30%; transfer tax rate (for transfers at the end of year 20) = 55%.

Numbers have been rounded for convenience, are only estimates for illustrative purposes and should not be relied upon. Corporate insiders

should consult with securities counsel as to any reporting issues under SEC Section 16 of the Securities Exchange Act of 1934 associated

with receiving shares in-kind.

Note: These materials should not be construed as providing legal, tax, or accounting advice.

On June 7, 2001, President Bush signed into law the Economic Growth and Tax Relief Reconciliation Act (""EGTRRA"") which significantly changed estate, gift, and
generation-skipping transfer taxes. On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Jobs

Creation Act of 2010, which institutes estate, gift, and GST taxes at 35% with a $5MM exemption for 2011 and 2012 (adjusted for inflation), after which rates and exemptions
will return to pre-EGTRRA levels.

NOTE: Analysis assumes that at the end of year 5 the $41,522,399 cumulative remainder of cascading GRATs from page 5 is used as
seed capital for another note at 9:1 leverage used to purchase $373,701,591 of assets at a 30% discount using today’s long-term AFR
of 2.89%

J.P Morgan ;

HOUSE_OVERSIGHT_022357
"
IMAGES-010-HOUSE_OVERSIGHT_028914.txt,"with Israel's reservations, as a basis to
negotiate a regional agreement.

e¢ This will take time. There will be
ups and downs. The Palestinians are
not an easy interlocutor. No one knows
that better than I do..

¢ This might require long periods of
interim agreements and even calculated
unilateral steps that are coordinated
with the US and the Quartet.

¢ Itis possible that within the context
of a regional agreement, the Palestinian
State, once established, could be
integrated into a structure of a closer
cooperation that could include Jordan,
Israel and perhaps another regional
player.

¢ But to advance the chance of a
regional agreement after the elections
in Israel — the Palestinian issue and the
two-state solution must be at the top of
the agenda.

¢ The idea that' the radical right
raises from time to time — to continue
to rule the entire territory and maintain

HOUSE_OVERSIGHT_028914
"
IMAGES-010-HOUSE_OVERSIGHT_030183.txt,"28

Lastly, OFAC could simply delist Hamas or continue allowing aid to
the PA under a “general license.” But this would not do away with
the independent criminal ban on providing “material support” to an
FTO. To remove Hamas from the criminal law banning FTO support,
either the secretary of state or Congress would have to revoke the
designation of Hamas as an FTO -- a highly unlikely scenario.
Should the Obama administration want to continue funding a Hamas-
affiliated PA to maintain U.S. influence or otherwise promote U.S.
interests, current law gives him little leeway to do so. PATA places
numerous restrictions on any aid to a Hamas-affiliated PA, and any
attempt by the White House to continue funding the PA in spite of
PATA risks violating criminal statutes. Short of removing Hamas as a
designated terrorist organization and FTO, the safest way to proceed
would be on the basis of legislative action that allows White House to
support the PA even under a Fatah-Hamas coalition. Without it, the
Obama administration’s legal options are limited. No matter how
much it may want to continue aiding the PA, then, its continued
support may well be illegal.

DOUGLAS N. GREENBURG served as a staff member of the
September 11 Commission. DEREK D. SMITH is the author of
Deterring America: Rogue States and the Proliferation of Weapons
of Mass Destruction. Both are attorneys at Latham & Watkins, LLP.

HOUSE_OVERSIGHT_030183
"
IMAGES-003-HOUSE_OVERSIGHT_016405.txt,"and you turn that special capability to a human purpose, to something you want
technology to do. In the case of magnetic materials, there are plenty of ways to do that.
In terms of programs, it’s the same story. There are all kinds of programs out there, even
tiny programs that do complicated things. Could we entrain them for some useful human
purpose?

And how do you get Als to execute your goals? One answer is to just talk to
them, in the natural language of human utterances. It works pretty well when you’re
talking to Siri. But when you want to say something longer and more complicated, it
doesn’t work well. You need a computer language that can represent sophisticated
concepts in a way that can be progressively built up and isn’t possible in natural
language. What my company spent a lot of time doing was building a knowledge-based
language that incorporates the knowledge of the world directly into the language. The
traditional approach to creating a computer language is to make a language that
represents operations that computers intrinsically know how to do: allocating memory,
setting values of variables, iterating things, changing program counters, and so on.
Fundamentally, you’re telling computers to do things in your own terms. My approach
was to make a language that panders not to the computers but to the humans, to take
whatever a human thinks of and convert it into some form that the computer can
understand. Could we encapsulate the knowledge we’d accumulated, both in science and
in data collection, into a language we could use to communicate with computers? That’s
the big achievement of my last thirty years or so—being able to do that.

Back in the 1960s, people would say things like, “When we can do such-and-
such, we’ll know we have AI. When we can do an integral from a calculus course, we’ll
know we have AI. When we can have a conversation with a computer and make it seem
human... ,” et cetera. The difficulty was, “Well, gosh, the computer just doesn’t know
enough about the world.” You’d ask the computer what day of the week it was, and it
might be able to answer that. You'd ask it who the President was, and it probably
couldn’t tell you. At that point, you’d know you were talking to a computer and not a
person. But now when it comes to these Turing Tests, people who’ ve tried connecting,
for example, Wolfram|Alpha to their Turing Test bots find that the bots lose every time.
Because all you have to do 1s start asking the machine sophisticated questions and it will
answer them! No human can do that. By the time you’ve asked it a few disparate
questions, there will be no human who knows all those things, yet the system will know
them. In that sense, we’ve already achieved good AI, at that level.

Then there are certain kinds of tasks easy for humans but traditionally very hard
for machines. The standard one is visual object identification: What is this object?
Humans can recognize it and give some simple description of it, but a computer was just
hopeless at that. A couple of years ago, though, we brought out a little image-
identification system, and many other companies have done something similar—ours
happens to be somewhat better than the rest. You show it an image, and for about ten
thousand kinds of things, it will tell you what it is. It’s fun to show it an abstract painting
and see what it says. But it does a pretty good job.

It works using the same neural-network technology that McCulloch and Pitts
imagined in 1943 and lots of us worked on in the early eighties. Back in the 1980s,
people successfully did OCR—optical character recognition. They took the twenty-six
letters of the alphabet and said, “OK, is that an A? Is that a B? Is that a C?” and so on.

185

HOUSE_OVERSIGHT_016405
"
IMAGES-005-HOUSE_OVERSIGHT_018501.txt,"either, because I didn't know how to describe exactly how. I thought I'd figure it out as
we went along, and then I would tell him exactly what it took.

Unfortunately, it wasn't that easy. Months and years passed without replicating the
incident. Anxiety began seeping back. My Unified Orgasm Theory was not doing well.

My fear of being perceived as ""demanding"" during sex and relationships was at a
ridiculous extreme back then. For example, I'd heard over and over that boys don't like
girls who are ""high-maintenance,"" so I told my boyfriends that I never wanted them to
buy me flowers. I thought that men would feel relieved that they didn't ""have to cater to
me,"" but they were just puzzled. (One responded by buying me fake flowers.)

Because of the awful shaming stereotypes around cunnilingus, I sometimes refused that
too. I couldn't believe that the boyfriends who were willing to go down on me were
actually enthusiastic about it, enjoying it -- and when my anxiety became too painful, I
inevitably stopped them. I always stopped them long before I stopped enjoying the act,
because I was so scared that they hated it, and hated me for wanting it. I was scared that
they resented me more and more, the longer they did it and I didn't come. My fear crept
up my spine and twisted around my heart until I had to make them stop.

Sometimes I felt trapped between love and disgust, like with the boyfriend who
constantly complimented me on how great in bed I was, but who seemed unaware of how
much I felt missing. The worst was when he went off on a rhapsodic list of my wonderful
qualities ending with: ""... and I don't even have to worry about giving you an orgasm!""
He didn't see the bind he was putting me in, the awful self-suppression and self-wounding
that he encouraged. He seemed unaware that I heard him telling me: ""You're great in bed
because you are constantly disappearing your own needs, and never asking anything
complicated of me!”

In fairness, I wasn't giving him any guidance on how to do better with me. In fairness, I
had no idea what kind of guidance to give.

They had their own social programming, and I didn't communicate well. But sometimes I
still have trouble forgiving my early boyfriends.

TK OK ok

IV. The Fight

Not all my boyfriends were willing to do as little as going down on me. One, in
particular, resisted very strongly; never did it at all. This was an especial problem because
he was one of the men I've loved most in my life, and our relationship lasted for years. I
think well of him when I think of anything other than sex. But when I remember having
sex with him, I feel echoes of sick panic and heartbreak.

By the end, every time I slept with him I felt nothing but disgust.

He seemed to prove all my fears: that the men in my life would loathe and resent me if I
tried to discuss my confusion and desperation; that they would loathe and resent me if I

asked for help with my sexual needs. Towards the beginning of our relationship, I tried

asking him (very timidly) to go down on me, and he simply refused. In later

HOUSE_OVERSIGHT_018501
"
IMAGES-003-HOUSE_OVERSIGHT_016363.txt,"“URGENT!” URGENT!” the cc’d copy of an email screamed, one of a dozen emails that
greeted me as I turned on my phone at the baggage carousel at Malpensa Airport after
the long flight from JFK. “The great American visionary thinker John Brockman arrives
this morning at Grand Hotel Milan. You MUST, repeat MUST pay him a visit.” It was
signed HUO.

The prior evening, waiting in the lounge at JFK, I had had the bright idea to write
my friend and longtime collaborator, the London-based, peripatetic art curator Hans
Ulrich Obrist (known to all as HUO), and ask if there was anyone in Milan I should
know.

Once I was settled at the hotel, the phone began ringing and a procession of
leading Italian artists, designers, and architects called to request a meeting, including
Enzo Mari, the modernist artist and furniture designer; Alberto Garutti, whose aesthetic
strategies have inspired a dialogue between contemporary art, spectator, and public
space; and fashion designer Miuccia Prada, who “requests your presence for tea this
afternoon at Prada headquarters.” And thus, thanks to HUO, did the jet-lagged “great
American visionary thinker” stumble and mumble his way through his first day in Milan,
November 2011.

HUO is sui generis: He lives a twenty-four-hour day, sleeping (I guess) whenever,
and employing full-time assistants who work eight-hour shifts and are available to him
24/7. Over a recent two-year period, he visited art venues in either China or India for
forty weekends each year—departing London Thursday evening, back at his desk on
Monday. Last year, once again, ArtReview ranked him #1 on their annual “Power 100”
list.

Recently we collaborated on a panel during the “GUEST, GHOST, HOST:
MACHINE!” Serpentine event that took place at London’s new City Hall. We were
joined by Venki Ramakrishnan, Jaan Tallinn, and Andrew Blake, research director of
The Alan Turing Institute. The event was consistent with HUO’s mission of bringing
together art and science: “The curator is no longer understood simply as the person who
fills a space with objects,” he says, “but also as the person who brings different cultural
spheres into contact, invents new display features, and makes junctions that allow
unexpected encounters and results.”

143

HOUSE_OVERSIGHT_016363
"
IMAGES-002-HOUSE_OVERSIGHT_013652.txt,"common way for electrical circuits, computer programs, brain mechanisms and
other complicated systems, even cultural or spiritual movements, to behave when
one or more important control parameters crosses a threshold. Doyne Farmer of the
Los Alamos’s Prediction Company once said about this vulnerability in complex
system, “Those things can hardly wait to roll up.” The /imit cycle lock-up occurs
most often as a sudden, discontinuous change, called a_ bifurcation, into
autonomous Sself-oscillations from an equilibrium state around which there was
some random variation. A bifurcation, a discontinuous change in outcome from a
smooth changes cause, characteristically occurs when the amount of an important
influence, a metabolic state, a drug, a psychodynamic conflict or level of emotional
stimulation crosses some critical value. The switch from one type of dynamical
behavior to another looks like the system has suddenly changed into something
else with an entirely new kind of life of its own. In the new life of rolled up, locked-up
repetitious motion, almost all new starting conditions follow pathways that lead into
the same limit cycle pattern. Evangelical Christians talk about a// born again life
being in Jesus, fixed in a complete set of moral, social and political beliefs, ideas
and judgments. The limit cycle gets its name because the end state of the orbits of
almost all starting points of the dynamics winds up being drawn into the same fixed,
repetitious pattern of a stable cycle. Visualizing the simulation of one kind of
bifurcation to a limit cycle on a computer screen, we see a slightly jiggling point
explode suddenly into an orbit of ceaseless rotations around a circle.

Ralph Abraham, the University of California at Santa Cruz pioneer in
graphical approaches to nonlinear systems, describes, cinemagraphically, the
emergence of limit cycles from a single point. He starts with a picture of an attractor
of water flow in the shape of a basin. All water that enters the basin, rolls down its
sides to the bottom, to what physicists say represents a potential energy minimum.
A little more technically, this attractor basin is composed of the set of all points such
that the orbits that flow from them tend to end up inside the basin as time goes
toward infinity, no matter where they start. Changing the value of a control
parameter of the system changes the shape of this basin-like landscape, of the

surface of the systems dynamical actions called a manifold, which can intuitively

152

HOUSE_OVERSIGHT_013652
"
IMAGES-006-HOUSE_OVERSIGHT_022431.txt,"HOUSE_OVERSIGHT_022431
"
IMAGES-006-HOUSE_OVERSIGHT_021138.txt,"28 MICHAEL WOLFF

That Friday morning, he came down from the residence into the
Oval Office in a full-on rage so violent that, for a moment, his hair came
undone. To the shock of the people with him, there stood an almost
entirely bald Donald Trump.

The president’s sudden change of heart sent the entire Republican
Party into a panic. If Trump carried out his threat not to sign the bill, he
would bring on what they most feared: a shutdown. And he might well
blame the shutdown on his own party.

Mark Meadows, the head of the House Freedom Caucus and a |

staunch Trump ally in Congress, called the president from Europe to say
that after the vote on Thursday afternoon most members had left town for
the congressional recess. Congress wouldn't be able to undo the previous
day’s vote, and the shutdown was due to commence in mere hours.

Mitch McConnell rushed Defense Secretary Jim Mattis into action to
tell the president that American soldiers would not be paid the next day if
he didn't sign the bill. This was a repeat performance: Mattis had issued a
similar warning during a threatened shutdown in January.

“Never... never... never... again; Trump shouted, pounding the
desk after each “never.”

Once again he caved and agreed to sign the bill. But he vowed that
next time there would be billions upon billions for the Wall or there really
would be a shutdown. Really. Really.

*

Bannon had been here before, so many times.

“Dude, he’s Donald fucking Trump,’ said Bannon, holding his head
and sitting at his table in the Embassy the day after the president signed
the bill.

Bannon was not confused: he had a clear understanding of how great
a liability Trump could be to Bannon’s own vision and career. To the ner-
vous titers of the people around him, Bannon believed he was the man of
populist destiny and not Donald Trump.

The urgency here was real. Bannon believed he represented the
workingman against the corporate-governmental-technocratic machine
whose constituency was the college-educated. In Bannon’s romantic view,

oe ]

SIEGE 29

the workingman smelled of cigarettes, crushed your hand in his, and was
hard as brick—and not from working out in a gym. This remembrance
of things past, of (if it ever existed) a leveled world where a workingmar
was proud of his work and identity, was inspiring, Bannon believed, :
global anger. It was a revolution—this worldwide unease and fear anc
day-by-day upending of liberal assumptions—and it was his. The globa
hegemon was in his sights. He was the man behind the curtain—and h
might as well be in front of it, too—trying to snatch the world back fron
its postmodern anomie and restore something like the homogenized an:
neighborly embrace of 1962.

And China! And the coming Gétterdammerung! To Bannon, thi
was way-of-life stuff. China was the Russia of 1962—but smarter, mor
tenacious, and more threatening. American hedge funders, in their secre
support of China against the interests of the American middle class, wet
the new fifth column.

How much of this did Trump understand? How much was Trum
committed to the ideas that moved Bannon and, by some emotion
osmosis, the base? Trump was more than a year in, and not a shovelful
dirt had yet been dug for the Wall, nor a penny allocated. The Wall ar
so much else that was part of Bannon’s populist revolution—the detai
of which he had once listed on whiteboards in his White House offic

expecting to check each one off—were entirely captive to Trump's inatte:
tion and wild mood swings. Trump, Bannon had long ago learned, “does:
give a fuck about the agenda—he doesn't know what the agenda is.”

4% +

In late March, after the gloom of the budget bill disaster had lifted, the
was a brief, optimistic moment for the faithful in Trump’s inner circle.

Chief of Staff John Kelly, fed up with Trump—just as Trump was f
up with him—seemed surely on the way out. Kelly had joined the Wh
House, replacing Reince Priebus, Trump’s first chief of staff, in Aug)
2017, charged with bringing management discipline to a chaotic W
Wing. But by mid-fall, Trump was circumventing Kelly’s new prox
dures. Jared and Ivanka—with many of the new rules designed to c'
tail their open access to the president—were going over his head.

HOUSE_OVERSIGHT_021138
"
IMAGES-009-HOUSE_OVERSIGHT_028159.txt,"/ BARAK / 25

1982 Lebanon War, with two sons fighting on the ground, he’d been a rare voice of
common sense, and caution, in the Begin cabinet. I’d also seen him operate in
Shamir’s inner security cabinet, when I would come, as deputy chief of staff, to
present military operations for approval. I remember one occasion when an air
force general laid out the details of a planned helicopter-borne mission into
Lebanon. I added a few remarks in summary. Raful Eitan and Arik Sharon were
both ministers. Within seconds, they were peppering the general and me with
questions. Why were the aircraft taking one route north instead of another? Why
not closer to Mount Hermon? Shouldn’t they fly lower? Levy interrupted.
“Gentlemen,” he said, “we are not in company commanders’ course. We’re in the
inner cabinet of the government of Israel. We have a chief of staff and other
generals and military professionals. It’s their job to decide the operational details.
Our job is to balance the reasons for doing an operation against the risks as
presented to us.”

I met with him in the Knesset cafeteria before Bibi went off to the Wye River
summit. Levy now headed a small breakaway faction from Likud called Gesher,
Hebrew for “bridge.” Without explicitly suggesting we join forces, I explained my
hope to run my eventual campaign for Prime Minister in alliance with a few other
parties. I told him I wanted to make my candidacy a legitimate choice for voters
from the center-right, the Orthodox, as well as the Russian community. I took a
napkin and drew a big umbrella to illustrate what I had in mind. He said he
understood — though he did tell me to make sure I tore up the napkin. There came a
point, at the end of November when it looked like my overture had failed.
Scampering for a way to shore up his coalition, Bibi tried to lure Levy into the fold
back by offering him the Finance Ministry. But with resistance from other
ministers, Bibi broke off the talks with Levy, leaving him humiliated and furious. I
met with him several more times, and we brought in Gesher as our first “One
Israel” partner. The second to join us, early in the new year, was a small religious
party called Meimad, inspired by an openly pro-peace Orthodox rabbi named
Yehuda Amital and including a former Chief Rabbi of Norway, Michael Melchior.

By the end of January 1999, several months before the real campaign, I was
feeling better about where we stood, in part because of a series of hits Bibi was
taking from former friends and allies. The first salvo was fired by Misha Arens,
who had helped engineer Bibi’s move into national politics. He announced he was
going to put himself forward for the Likud leadership before the election, saying

311
HOUSE_OVERSIGHT_028159
"
IMAGES-012-HOUSE_OVERSIGHT_032603.txt,"communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032603
"
IMAGES-003-HOUSE_OVERSIGHT_014574.txt,"Exhibit 36: Contribution from Change in
Inventories to US GDP Growth

Inventories should support growth after five quarters of
subtracting from GDP.

Recession

Contribution

Percentage Points, 5-Quarter Moving Total
14 5

1981 1986 1991 1996 2001 2006 2011 2016

Data through 03 2016.
Source: Investment Strategy Group, Haver Analytics.

Exhibit 37: National Association of Home Builders
US Housing Market Index

The post-crisis high in builder confidence bodes well for US
residential investment.

Index Level
80 5

70 4
60 1
50 +
40 5

30 4

Q +
2002 2004 2006 2008 2010 2012 2014 2016

Data through December 2016.

Note: Based on a monthly survey of NAHB members who rate market conditions for the sale of
new homes, as well as the traffic of prospective buyers of new homes.

Source: Investment Strategy Group, Datastream.

Exhibit 38: US GDP Growth Impulse from
Goldman Sachs Financial Conditions Index

The persistent drag from tight financial conditions over the
last two years should reverse in 2017.

Percentage Points, 4-Quarter Moving Average

105 \Forecast
0.8 5

0.6 4

: iT olan. ah.

||

-0.8
-1.0 5
=:2' 4
2012 2013 2014 2015 2016 2017 2018
Data as of 03 2016.

Note: The financial conditions index is a weighted average of riskless interest rates, credit
spreads, equities and FX, based on effects on 1-year forward US GDP growth. Historical
estimates and forecasts by Goldman Sachs Global Investment Research. For informational
purposes only. There can be no assurance the forecasts will be achieved.

Source: Goldman Sachs Global Investment Research.

by inventory restocking, which looks ready to help
GDP growth again after five quarters of negative
contributions (see Exhibit 36). Similarly, residential
investment is set to contribute, reflected in the

National Association of Home Builders (NAHB)
housing market index reaching a post-crisis high in
December of last year (see Exhibit 37). Overall, we
expect this momentum to continue as the erstwhile
easing in financial conditions provides a growth
tailwind throughout 2017 (see Exhibit 38).

A Resilient US Consumer

The stars are aligned for US consumers in 2017,
as they enter the year with rising wages, higher
net worth from asset price gains, historically
low debt-servicing costs, ample savings and
confidence at a 12-year high. They also stand to
benefit directly from potentially lower tax rates
and indirectly from higher fiscal spending, a
topic we discuss in the next section. The above-
mentioned factors should mitigate the headwind
from higher inflation. Overall, we expect private
consumption—a key driver of our GDP forecast—
to expand at a pace of approximately 2.5%.

Supportive Policy

While government policy is always a source of
uncertainty, it is even more so in 2017 given
potential changes to tax, trade and immigration
policies in the wake of last year’s presidential
election. Nonetheless, our base case is that policy
ultimately supports growth this year, with some
fiscal expansion and a measured pace of Federal
Reserve rate hikes. Although the final contours of

Outlook | Investment Strategy Group 41

HOUSE_OVERSIGHT_014574
"
TEXT-001-HOUSE_OVERSIGHT_022260.txt,"From: Vinit Sahni 
Sent: 3/14/2014 2:24:19 AM 
To: jeeyacation@gmail.com 
CC: Paul Morris 
Subject: Re: Oil options 
Attachments: graycol.gif 
Importance: High 
Classification: External Communication 
I am on a plane to and from tokyo tomorrow next 2-3 days, if u need something otherwise available 24/7 on +447703720599. 
Vinit Sahni 
-----Original Message----- 
From: Vinit Sahni 
Sent: 03/13/2014 09:47 PM EDT 
To: jeevacation@gmail.com 
Cc: Paul Morris 
Subject: Fw: Oil options 
Classification: External Communication 
Jeffrey - apologise if this long to execute next time well be much quicker. 
Nay Gupta 
-----Original Message----- 
From: Nay Gupta 
Sent: 03/12/2014 09:35 PM GDT 
To: njeevacation@gmail.com"" <jeevacation@gmail.com> 
Cc: Tazia Smith; Paul Morris/db/] Vinit Sahni/db/ 
Subject: Oil options 
Jeffrey 
Just got off the phone with Vinit. 
DB stopped marketmaking OTC oil options - for short dated Pd go for exch traded - better liquidity and lower transaction costs in and 
out. 
My central scenario - Kerry Lavrov meeting Friday will be a bust and the Crimea referendum this weekend will result in ""yes"" given 
the 59pct ethic Russian makeup. Sunday/ Monday sanction rhetoric from ranging from g8 expulsion to Iran-style bank embargo is 
raised a notch. Russia follows with more threats of counter-sanctions. My sense is the Obama 5m of 696m SPR release is to show 
Merkel and co he will step in. He needs to because there are 8 small European and Baltic countries that rec 70%+ of their gas from 
Russia. Germany gets 30%. 
Cross asset correlations outside of the US are increasing past few days - eg copper and the Turkish lira hourly charts are on top of each 
other past 4 days. I'm worried there is a 30-40pct(?) chance of a hard risk off move in markets in first half of next week - more focused 
on European equities, copper, EM FX (Turkey, ZAR, Ruble etc) than SPX. In that scenario oil is way up. 
Exchange WTI calls - there are 2 options (as of 3pm est): 
5day expiry 17march 2014 underlying clj4 97.92 
and 
35d expiry 16apri12014 underlying clk4 97.59 
** The 5 day options are a bit short - one possibility is sell a 3usd out of the money put (95.5 strike) for 20cents and buy a 2usd OTM 
100 call for 25. Net pay Scents. But 5d is a bit short for me. 
**For 35d expiry You could look at selling 91.50 (6usd OTM put) for 56cents and buying 103c (5.5usd OTM) for 58cents or the 102c 
(4.5usd OTM) for 76cents. 
HOUSE OVERSIGHT 022260 
CL1 <comdty> OMON on Bloomberg has live strikes and bid/ask. 
If 5d is too short and 35d is too long / not enough gamma, Tazia may be able to source liquidity from the street. Am Cc'ing her for any 
live pricing or additional comment 
Best 
Nay 
c 
h 
This e-mail may contain confidential and/or privileged information. If you are not the intended recipient (or have received this e-mail 
in error) please notify the sender immediately and delete this e-mail. Any unauthorized copying, disclosure or distribution of the 
material in this e-mail is strictly forbidden. 
Please refer to http://www.db.com/en/content/eu disclosures.htm for additional EU corporate and regulatory disclosures and to 
http://www.db.com/unitedkingdom/content/privacy.htm for information about privacy. 
HOUSE OVERSIGHT 022261 
"
IMAGES-008-HOUSE_OVERSIGHT_025034.txt,"All beha vior is instructive. That is, we teach others how to treat us. The game of guilt, along with other
Control Factor tools, teaches our Enemy it is winning and to continue playing.

FP: The reason Nidal Hasan was able to perpetrate his murder spree at Fort Hood is precisely because of
our Control Factor. Please connect the dots for our readers.

Siegel: Just as I used to look at Hitler when I was young and be amazed that no one could see what he was
about, in retrospect the same applies to Hasan. It is precisely all the elements of the Control Factor that
could allow this man, a Soldier of Allah, to be positioned as he was. He was blatantly voicing his Islamist
views and Jihadi intent including, even, an essay recommending the “painful liquidation” of non-Muslims.
Yet, in the Army of all places, the Control Factor operated to allow and even foster his work. Even after the
murders, we cont inue the denial by calling it “workplace violence.” He is the Civilization-Violent Jihad
combo! And we continue to enable the same infiltration elsewhere.

FP: Tell our readers about “The Project” and “Explanatory Memorandum.” These are realities that serve as
great threats to the Control Factor, right?

Siegel: These are separate sets of documents that outline the Muslim Brotherhood’s goals and

plans underlying the Civilization Jihad. The former was discovered in Europe and extends globally. The
1991 Explanatory Memorandum emerged in 2008 from the Holy Land Foundation trial and describes the
Brotherhood’s work in America as a “Civilization-Jihadist Process with all the word means” and “a kind of
grand Jihad in eliminating and destroying the Western civilization from within and ‘sabotaging’ its
miserable house by their own hands and the hands of the believers so that it is eliminated and God’s religion
is made victorious over all other religions.”

Much as the communists of the Soviet Union had formulated in the 1950s a detailed long term plan to
destroy America (many of the effects of which we are seeing of late including destroying the

nuclear family, secularizing the nation, feminizing men ...) these documents identify many strategies to
infiltrate while eroding the foundations of our civilization in order to transform it into an Islamic one. The
Control Factor has many ingenious ways to convince us that this is ridiculous, that our courts and system
would never allow such a thing, that one is racist or “Islamophobic,” if not insane, for even thinking this is
real. And just as with the communists, time is plentiful. Even more so with our Islamic Enemy, a multi-
decade plan is short term. It is not critical that a seriou sly engaged Muslim lives to see the result. It is
critical, more correctly a duty, however, that he carries on his Jihad. Patrick Poole and The Center for
Security Policy’s Team B Report, Shariah: The Threat to America, are excellent sources for your readers to
pursue these documents.

FP: And so what you call an “Inner Jihad” has to start. It’s our, as you say, mandatory “addiction
treatment.” Please explain.

Siegel: The “Inner Jihad” is the effort we must undertake to gain control over our Control Factors. There is
a famous Hadith in which Mohammad, returning from a successful battle, essentially says that the physical
fight was the “lesser Jihad” and it is time to then attend to the “greater Jihad €”- that internal battle against
our own internal appetites, lusts, wrong thinking and so forth. While that Hadith has been falsely utilized to
say that “Jihad” is not violent, it is useful to us as a symbol of the vicious effort we must take internally
against our own Control Factor tendencies.

As I said earlier, the Control Factor is “active” and “continuous” so we must constantly monitor and combat
it. Like “Whack-a-Mole,” just as we may think we have addressed it, another variation pops right up. I use
the terms “addict” and “enabler” because we truly need a form of rehab to break the habitual power of the
Control Factor and because our relationship with our Islamic Enemy is very much like that between a
typical addict and his enabler. And just as it is so difficult for an addict to kick his habit, so does the enabler
act essentially addicted to his behavior and find it so difficult to change. At its core, the relati onship
involves the transfer of responsibility for our Islamic Enemy’s hate and resultant actions onto us with our
response framed essentially as an effort to do what we can to try to address the Enemy’s grievance. (Your
book, United in Hate, describes this addiction to hate in detail.

HOUSE_OVERSIGHT_025034
"
IMAGES-004-HOUSE_OVERSIGHT_018148.txt,"shoe may well be one of the least frivolous prototypes on display among the 1,100
exhibitors. Developers plan to sell the device as a way to track mentally disabled people or

seniors who have Alzheimer's disease.
Where would you be without GPS?

Perhaps carrying fewer gadgets: The technology is being added to shoes, MP3 players, dogs

By Carolyn Y. Johnson | Boston Globe | February 19, 2007

This month, GTX Corp. launched a line of Xplorer Smart GPS shoes that transform sneakers into
a wearable LoJack system.

ABI Research found that the number of people in North America who subscribe to GPS-enabled
location-based services more than doubled between 2005 and 2006, from 1.6 to 3.9 million. The
number of subscribers is projected to rocket to 52 million in 2011.

That means companies working in what used to be a niche market have been enjoying explosive
growth. Revenues at TomTom NV, a Concord-based maker of personal navigation products, have
increased more than 500-fold since 2001, from $2.5 million to an estimated $1.7 billion last

year. Garmin's business has exploded into the mainstream, too, and the company ran its first
Super Bowl ad this year. Boston-based start-up Skyhook Wireless brings location awareness to
any device with WiFi, and announced a major partnership this month with GPS platform maker

SiRF.
Xplorer shoes offer advanced personal location services

from Wearable Electronics

January 29, 2007 - We’ve written several times about the concept of electronically fencing dogs
and cats for their safety, or the safety of others. Similarly, as GPS technologies have become
commercially viable, of tracking assets and loved ones to ensure their safety. Now personal
location services company GTXC Corporation, is set to unveil a line of Xplorer Smart GPS shoes
at the World Shoe Association (WSA) in Las Vegas on February 1 which offer a range of new
opportunities. Xplorer shoes incorporate a small and robust GPS tracking device which hooks up

with GTXC's internet user portal to offer a very compelling array of personal location services.
Integrated GPS Shoes by GTXC

Getoutdoors.com Outdoor Blog - Friday, February 2. 2007

HOUSE_OVERSIGHT_018148
"
IMAGES-007-HOUSE_OVERSIGHT_023366.txt,"In re: TERRORIST ATTACKS ON SEPTEMBER 11, 2001., 2012 WL 257568 (2012)

Abrahams v. Young & Rubicam Inc., 79 F.3d 234 (2d Cr.
1996) ceecccseesccscssescescsesceesesnseeeseseseeesnseseeesnseseeesnseseeesnsesenesnseeceesnseeeesnseeeteanseeet

Ahern v. Cnty. of Nassau, 118 F.3d 118 (2d Cir. 1997) ou.
Al Alwi v. Obama, 653 F.3d 11 (D.C. Cir, 2011) ceeeceeeeeesnees
Al-Adahi v. Obama, 131 S. Ct. 1001 (2011) cneesescsseesesneeesesneees
Al-Adahi v. Obama, 613 F.3d 1102 (D.C. Cir. 2010) ee
Al-Bihani v. Obama, 131 S. Ct. 1814 (2011) ..eeecssessesneeeseeneees
Al-Bihani v. Obama, 590 F.3d 866 (D.C. Cir, 2010) ones

Almog v. Arab Bank, PLC, 471 F. Supp. 2d 257 (E.D.N.Y.
QOOT) eecccssssccccsnsececcsnsecesesnseeeseseseeesnsescersnsesscesnsesccesnseseeesnseseeesnseeceesnseeeteanseeet

Amaker v. N.Y. State Dep’t of Corr. Servs., 435 F. App’x 52
(2d Cir, 2011) eceeccesescscsnescescsneecescsnsecescsnseeesesnseeessseseeesesnseeesnseseersnseseeeensess

Arndt v. UBS AG, 342 F. Supp. 2d 132 (E.D.N.Y. 2004) ..........
Ashcroft v. Iqbal, 129 8. Ct. 1937 (2009) ..eeceecseseceesseeeeeteesteeeeee
Aziz v. Alcolac, Inc., 658 F.3d 388 (4th Cir. 2011) wns

Balt. & Potomac R.R. v. Fifth Baptist Church, 108 U.S. 317
(1883) eecccsesscsccsneseecesnsececcsnseeeccsnseeescsnseeecesnseeesesnseerenseseetenseseersnsescerenseseeteesess

Boim vy. Holy Land Foundation for Relief and Development,
549 F.3d 685 (7th Cir. 2008) .eeccccscsssscsscseeecescseeeeesssneeeeseseeersnseseessnsess

Boim v. Quranic Literacy Inst. & Holy Land Found. for
Relief and Dev., 291 F.3d 1000 (7th Cir. 2002) occ

Bougher v. Univ. of Pittsburgh, 882 F.2d 74 (3d Cir. 1989) ....
Bovsun v. Sanperi, 61 N-Y.2d 219 (1984) .oeecceeccesesstsesceesseeeeeneenees
Bowoto v. Chevron Corp., 621 F.3d 1116 (9th Cir. 2010) ........

*vi Brentwood Acad. v. Tenn. Secondary Sch. Athletic Ass’n,
531 U.S. 288 (2001) ceeeseccscssescescsneesesssnseeesesnseeesnsnsecesesnseeesnsnseersnseseerensess

Galderv, Jones, 465 US: TSB COBRA): ssvssevsvasecrvscenccecereavsereressees
Carpenter v. Republic of Chile, 610 F.3d 776 (2d Cir. 2010) ..
Carter v. Barry; 468 F.2d.821 (2d Cir: 1972) sesssscccsescoessavsscecevecous

Chambers v. Time Warner, Inc., 282 F.3d 147 (2d Cir. 2002)

WESTLAW © 2019 Thomson Reuters. No claim to original U.S. Government Works.

66

158
111,112
103
passim
111
111,112

100, 131, 132, 136

65

138
passim
103, 0109, 116, 140

140

passim

67, 71, 78

149
147
140

141

158

65

HOUSE_OVERSIGHT_023366
"
IMAGES-007-HOUSE_OVERSIGHT_024409.txt,"Similarly, the sense of control must be continuously maintained so the Control Factor operates constantly. In
turn, the sum of this active and continuous undertaking makes these perceptions all the more familiar and thus
seemingly all the more “real.” In one sense, the Control Factor is the mechanism of what Andy McCarthy
entitled one of his numerous excellent books- willful blindness. The Control Factor is cleverer than we are
aware; that is almost tautological as, if our minds are to create ways to keep us in denial, they must out
maneuver our conscious thinking.

Since World War II, America has had limited experience with threats coming to the homeland. Most of
America’s history has been about “over there,” where we have always known that if things got too out of
hand (e.g. Vietnam) we could always ret urn home. The current generations, for a wide array of reasons, have
had virtually no experience with a threat to this land. (The documentary, Generation Zero, is interesting on
this point).

Consequently, the process of waking up to such a threat parallels the arc of a typical horror film. In such a
film, there is typically a cast of characters surrounding one or two main characters. We in the audience know
there is a threat coming — be it a monster, a virus, a psycho killer, an alien, the blob that ate Cincinnati etc.
This threat is typically defined by its intent- the singular goal of destroying the characters. Much of the initial
exposition shows how the characters first are oblivious to the destruction the threat brings about, then explain
it in familiar terms only to finally open their eyes to see that something uniquely terrifying is happening. The
next stage usually involves a series of failed attempts to deal with the threat- fr om trying to negotiate with it,
to appease it, to coax it, to threaten it with ineffective weapons and so forth. Most of these failings are due to
not adequately appreciating the threat for what it truly is and projecting onto it a host of other attributes
instead. The final stage generally involves a back-up-against-the-wall decision by whichever characters
remain alive. I named this the “turnaround moment” when the character becomes willing to be as ruthless as
the threat. That change in mental state is necessary to ensure survival. Ultimately, the storyline is a race for
whichever characters remain to wake up fully and use whatever advantages they may still have to beat the
threat.

This is the same arc our minds go through in battling our own Control Factors, our own compulsions to deny
that which is staring us in the face. Ultimately, the question is whether we will be able to wake up while we
still have advantages and give ourselves permis sion to fully fight the battle we are in.

I said ear lier that there is a structure to the Control Factor. To oversimplify, I view it much as a pyramid
where on the bottom are the many minute by minute thoughts that are manipulated. I call this level of
maneuvers the many ”D’s” as they include the psychological defenses such as distortion, denial,
demonization, deflection, deletion, detachment, delusion, displacement, discolorization and so forth. Layered
upon these are moves such as projection, where we can assign to our Islamic Enemy traits we wish to see in
them or introject traits from them into ourselves that we wish not to acknowledge. These maneuvers involve a
mixing of identities where we actually lose clarity about who we are and who the enemy is. Projection and
introjection are active almost across the board. It is always helpful, for instance, to ask how what the enemy
accuses us of is more appropriately descriptive of it. When we add Western Guilt and Shame, our need to be
liked, and o ther psychological dimensions, basic thoughts solidify into larger fantasies.

As these narratives (“Our courts will never allow that,” “As a superpower we will always be able to win any
fight we put our minds to,” “Assimilation will ensure Muslims are westernized” ...) gain consent from others
they tend to guide us deeply and become infused on our policies. Ultimately, what emerges is a relationship
we take with our Islamic Enemy that parallels that between an addict and an enabler. Emblematic of this
relationship is the “transfer of responsibility” in which we assume responsibility for the enemy’s behavior
who is addicted to transferring it away from itself. The Control Factor actively maintains this relationship and
makes changing that relationship as difficult a chore as any addict finds in breaking his addiction. And just as
an addict needs to devote serious effort and con sciousness to his addiction, so must we devote great energy to
unders tanding how the Control Factor ultimately sabotages us.

FP: Describe the threat we face in our Islamic enemy. And you talk about the three levels of jihad against us.
What are they?

HOUSE_OVERSIGHT_024409
"
IMAGES-004-HOUSE_OVERSIGHT_017290.txt,"4.2.12
WC: 191694

Attempted Murders: Killing a Corpse and the “Abraham Defense”

A case that involved both science and logic arose in the context of the attempted murder
prosecution of a young man who had shot a corpse, believing that it was still alive. The case
presented a series of perplexing scientific and logical riddles: When is a person who has been
mortally wounded actually dead? Can you kill a man who is already dead? If not, can you
attempt to kill a man who is already dead if you believe he is still alive.

My client had watched one acquaintance, who was having a disagreement with another
acquaintance, shoot him in the heart. The shooter then asked my client to shoot the victim in the
head, which he did. On the first appeal, which I argued in Brooklyn, the court reversed the
murder conviction on the basis of scientific evidence that it was impossible to know whether the
victim was alive or dead at the moment my client shot him in the head, since someone else had
shot him in the heart just moments earlier. It ruled that the prosecution had not satisfied its
burden of proving he was still alive when my client’s bullet shattered his brain. The court also
ruled that my client could not be convicted of attempted murder, on the ground that since it is
factually impossible to murder a corpse; it is also legally impossible to attempt to do that which it
is factually impossible to do. On the second appeal, which I argued in Albany, the court agreed
that my client could not be convicted of murder because “man dies but once,” but it concluded
that he should be convicted of attempted murder. I then brought a federal Habeus Corpus
petition, and the federal court threw out the attempted murder conviction as well. My client went
free. This intriguing case, which I wrote about in more detail Zhe Best Defense, is taught today in
many law schools as part of the standard course on criminal law. The issue of whether it is legally
possible to attempt to do what is factually impossible—namely to kill a dead person—continues
to confound new generations of law students.

Another attempted murder case presented a problem right out of the Bible. My client was
accused of attempting to kill his sister’s former boyfriend. The boyfriend was suspected of
burning down the sister’s house and burning her severely. She ultimately died of her painful
burns, but while she was still alive, my client went to her former boyfriend’s home, held a knife
over his chest and said he would kill him unless he admitted his role in the fire. The police burst
into the apartment and disarmed my client before he could stab the former boyfriend. My client
was convicted of attempting to kill the former boyfriend, and I was retained to argue the appeal.

I analogized the situation to the one described in the Book of Genesis when God told Abraham to
sacrifice Isaac, and Abraham stood, knife in hand, ready to inflict the fatal wound when God’s
angel came down and stopped him. I argued that we can never really know whether my client
would actually have killed the boyfriend had the police not intervened, just as we can never know
for sure whether Abraham would actually have complied with God’s command. There were other
issues in the case as well and we won the appeal. The state declined to re-prosecute and this
client too went free.

203

HOUSE_OVERSIGHT_017290
"
IMAGES-012-HOUSE_OVERSIGHT_032830.txt,"The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

HOUSE_OVERSIGHT_032830
"
IMAGES-003-HOUSE_OVERSIGHT_015681.txt,"To my family,
who have patiently listened to my interminable
ramblings about ‘Elephantine’ Equations.

HOUSE_OVERSIGHT_015681
"
IMAGES-011-HOUSE_OVERSIGHT_031159.txt,"From: US GIO [us.gio@jpmorgan.com]

Sent: 7/25/2011 4:33:45 PM
To: Undisclosed recipients:;
Subject: Eye on the Market, July 25, 2011

Attachments: image002.png; image004.png; image006.png; image008.png; image021.png; image022.png; image023.png;
image024.png; 07-25-11 - EOTM - White Castle.pdf

Eye on the Market, July 25, 2011 (the attached PDF document is much easier to read)
Topics: US debt ceiling negotiations, a more ambitious European bailout plan (finally), and how large cap growth
stocks and rising corporate profits are patiently waiting for both of them to end

White Castle. Twenty five years ago, I had a friend with a peculiar way of responding to seeing things he didn’t like on
TV: he would throw White Castle hamburgers at the screen. I always thought this was a bad way to waste a good
hamburger, but I had one of those moments the other night when watching news reports on debt ceiling

discussions. Media outlets have referred to President Reagan’s scolding of Congressional Republicans for delaying debt
ceiling increases, and the 18 increases that took place during his Presidency. The implication: reservations about raising
the debt ceiling are as irresponsible now as they were then. This is a disingenuous argument; in the 1980’s, the debt
ceiling being debated was 50% of GDP, and had no bearing on the solvency of the United States. Today, the
proposed increase raises the debt limit twice as high, measured relative to GDP or government revenues. While a default
is a very bad idea (deserving of a White Castle hurling of its own), unconstrained debt growth with no plan to slow it is
bad as well. Some suggest we not worry about debt growth, since demand from foreign central banks and the Federal
Reserve would keep yields in check. That logic is irresponsible at best. Debt limit legislation is a rocky but healthy way
for a democracy to decide whether mega-deficits are in the long-term public interest.

Over the last few days, the Gang of Six plan, the Reid-McConnell plan and the Obama-Boehner plan have all been
raised up the flagpole and then lowered. By the end of the process, we’re still looking for deficit reduction of $3
trillion+ over 10 years (relative to the CBO Alternative case in which there is no deficit reduction at all). However,
Congress is running short on time, and may have to do a smaller debt ceiling increase/deficit reduction first. For now,
we wait to see the balance of spending cuts and revenue increases will be agreed to. Last week’s Profiles in Courage
piece walked through the history and dynamics of this process, so we won’t repeat that here. Here’s our take on what
has been proposed so far, with the caveat that many plans are not crystal clear what baseline they are using, or what
steps they recommend to get to that baseline first. For example: the Gang of Six state that they used the President’s
budget as a baseline (scored by CBO in March 2011), reduced deficits by $3.7 trillion, and ended up with a 71%
debt/GDP ratio; but they do not explain how they get to the President’s baseline in the first place.

HOUSE_OVERSIGHT_031159
"
IMAGES-009-HOUSE_OVERSIGHT_027281.txt,"Source _— H\Macintosh HD\ root \Users\jee\Library\Messages\Archive\2018-06-1 7

6n 2018-06-09 at. 18.17.04.ichat

Service: iMessag

Start Time: 06/09/18 03:17:04 PM (550275424)

End Time: 06/17/18 06:24:16 PM (550977856)

Last Message ID: 16484

Chat Room:

Participants: jee, PO

Presentity IDs: e:jeeitunes@gmail.con, i!

Messages -

Sender: e:jeeitunes@gmail.com

Time: 06/09/18 03:17:04 PM (550275424)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 7536CO7E-8E09-4615-9R03-E2679BB3AFA5

Message: ??

Time: 06/09/18 04:07:04 PM (550278424)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: E9F31DA9-6874-4A69-8C4A-7D44696138F2

Message: Will call shortly

Sender: e:jeeitunes@gmail.com

Time: 06/09/18 04:07:27 PM (550278447)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: F74C9FAD-8FOB-45A9-A6B6-B6B427B675C

Gl

Message: K

Sender: e:jeeitunes@gmail.com

Time: 06/09/18 05:09:02 PM (550282142)
Flags: 1085445

Is Read: No

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GUID: 9H062235-C8C7-4A8C-8FB3-C60497AA2 961

Message: Didn't mean to cut you off , sorry

HOUSE_OVERSIGHT_027281
"
IMAGES-003-HOUSE_OVERSIGHT_015859.txt,"Complexity & Chaos

running any algorithm can solve, and then
there are the free will problems: how do
we pick a problem in the first place? How
do inventors come up with problems no
one had ever thought to solve in the first
place, such as the invention of the Rubik’s
Cube?

169

Problem

Flat

nlogn

Linear

Logarithmic
Exponential

P

Near NP
NP-non-complete
NP-Complete, tractable
Chaotic

NP-Complete, Quantum

NP-Complete, intractable
PSPACE

Non-computable

Non-deterministic,
Non-time divisible, Non-
computable

Impossible

Known Unknowns

Unknown Unknowns

Erné Rubik's Cube

Example

Print File (for Human)
Searching a list

Finding the lowest number in a list
Long Multiplication

Long Division

Most Algorithms

Factor Prime Number

Perfect Game of Chess
Travelling Salesman, SAT
Weather

Modeling a Quantum Process
Busy Beaver, Towers of Hanoi
Graph Problems, Places Game

Creativity, Finding Fermat Theorem for a
Turing machine, Tiling the plane with Penrose
Triangles

Free will

Halting problem for a Turing Machine, some
mathematical theorems such as the Continuum
Hypothesis in ZF+AC (Hilberts Ist). Travelling
faster than the speed of light. Understanding
the American tax code.

I know that I don’t know either way.

I have not thought to ask that question yet.
Inventing the Rubik's Cube

HOUSE_OVERSIGHT_015859
"
TEXT-001-HOUSE_OVERSIGHT_031591.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 1/6/2015 1:15:19 AM 
To: Christina Galbraith 
Subject: Re: High Profile 
thanks, what is david doing? 
On Mon, Jan 5, 2015 at 6:12 PM, Christina Galbraith < 
----------Forwarded message---------- 
From: Jamie Rosenwald_____________________________________ 
Date: Mon, Jan 5, 2015 at 5:07 PM 
Subject: High Profile 
To: ""Jeffrey@j effreyep stein. org"" <Jeffrey@j effreyep stein. o rg> 
Dear Jeff, 
wrote: 
Your name popped up again in the Press and I thought it was time to congratulate you on your wonderful 
financial successes since your days as my Physics prof at Dalton!! The young, bright options trader, who 
understood Black Sholes and how to use it, at Bear, made good!! 
Unless your PR advisor is Donald Trump, I am not sure that current press provides you with much benefit. 
Perhaps I am wrong? Not the first time!! 
Anyway, middle age has brought its own unique set of challenges. Aging certainly ain't for sissy's. 
Regards, 
Jamie Rosenwald 
Ps. David Asch and I toasted to you during our Thanksgiving weekend in Amagansett in November. 
Christina Galbraith 
MEDIA/PR 
Jeffrey Epstein VI Foundation 
HOUSE OVERSIGHT 031591 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 031592 
"
TEXT-002-HOUSE_OVERSIGHT_032220.txt,"From: Linda Stone 
Sent: 8/12/2015 5:22:10 AM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Please 
Importance: High 
Please tell me Trump will not win the election... 
xo 
co-authored with i Phone auto-correct 
HOUSE OVERSIGHT 032220 
"
IMAGES-011-HOUSE_OVERSIGHT_032450.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032450
"
IMAGES-005-HOUSE_OVERSIGHT_020075.txt,"professionally embraced. The role was to be Donald Trump’s heirs and attendees. Their
father took some regular pleasure in pointing out that they were in the back of the room
when God handed out brains—but, then again, Trump tended to scorn anyone who might
be smarter than he was. Their sister Ivanka, certainly no native genius, was the designated
family smart person, her husband Jared the family’s smooth operator. That left Don and
Eric to errands and admin. In fact, the brothers had grown into reasonably competent
family-owned-company executives (this is not saying all that much) because their father
had little or no patience for actually running his company. Of course, quite a good amount
of their professional time was spent on the whims, projects, promotions, and general way
of life of DJT.

One benefit of their father’s run for president was that it kept him away from the office.
Still, the campaign’s administration was largely their responsibility, so when the campaign
went from caprice to a serious development in the Trump business and family, it caused a
disruption in the family dynamic. Other people were suddenly eager to be Donald Trump’s
key lieutenants. There were the outsiders, like Corey Lewandowski, the campaign
manager, but there was also the insider, brother-in-law Jared. Trump, not unusually for a
family-run company, made everybody compete for his favor. The company was about
him; it existed because of his name, personality, and charisma, so the highest standing in
the company was reserved for those who could best serve him. There wasn’t all that much
competition for this role before he ran for president, but in early 2016, with the
Republican Party collapsing and Trump rising, his sons faced a new professional and
family situation.

Their brother-In-law had been slowly drawn into the campaign, partly at his wife’s
urging because her father’s lack of constraint might actually affect the Trump business if
they didn’t keep an eye on him. And then he, with his brothers-in-law, was pulled in by the
excitement of the campaign itself. By late spring 2016, when the nomination was all but
clinched, the Trump campaign was a set of competing power centers with the knives out.

Lewandowski regarded both brothers and their brother-in-law with rolling-on-the-floor
contempt: not only were Don Jr. and Eric stupid, and Jared somehow both supercilious
and obsequious (the butler), but nobody knew a whit about politics—indeed, there wasn’t
an hour of political experience among them.

As time went on, Lewandowski became particularly close to the candidate. To the
family, especially to Kushner, Lewandowski was an enabler. Trump’s worst instincts
flowed through Lewandowski. In early June, a little more than a month before the
Republican National Convention, Jared and Ivanka decided that what was needed—for the
sake of the campaign, for the sake of the Trump business—was an intervention.

Making common cause with Don Jr. and Eric, Jared and Ivanka pushed for a united
front to convince Trump to oust Lewandowski. Don Jr., feeling squeezed not only by
Lewandowski but by Jared, too, seized the opportunity. He would push out Lewandowski

HOUSE_OVERSIGHT_020075
"
IMAGES-001-HOUSE_OVERSIGHT_011216.txt,"kreisnagel RT @ManuelaKC: My Brexit Diary: The #Brexit ball 23 Jun 2016, 1 | negative
#BrexitOrNot @dw_business https://t.co/OD39bcjC47 | 10:39 - CEST
FcNoman RT @iamsrk: | c this trend in News where leaving of 23 Jun 2016, | Comilla, 3455 | positive
someone or something is headlined as Rexit or 10:39 - CEST | Banglad
Brexit.So if | leave from sumwhere am la€; esh
gabriel4347_ | @LesEchosLive un des premiers effets bA©nA@fique | 23 Jun 2016, O | neutral
du Brexit sera le d(A©part de #Cameron 10:39 - CEST
PaulinaNeus | RT @chrisuport_port: #britaininout #g00dbyeUK 23 Jun 2016, | German 7 | negative
tart #Brexit #BrexitOrNot #ivoted #Merkel 10:39-CEST | y
https://t.co/EFwAnf3dlx
RosChappell | RT #Brexit WANTS US TO IGNORE EXPERT ADVICE 23 Jun 2016, 0 | negative
@georgemagnus1 @dannyjpalmer @timjohnston_89 | 10:39 - CEST
@Scientists4EU @caketin85 https://t.co/eucswtjIGE
VilleTynkkyn | #politologi'n vuoden ehkAx mielenkiintoisin pAxivAx | 23 Jun 2016, 0 | negative
en on tAxnnAxAun. #Brexit #Remain #Strongerin 10:39 - CEST
#standbyme
loopvlak #Johnson neemt er eentje op Brexit = Hij heeft nog 23 Jun 2016, | somewh 0 | negative
last van het Imperium virus! https://t.co/gJHYJfebyJ 10:39 -CEST | ere in
via https://t.co/44MuRLpW76 the
milky
way
MiddletonRi | RT @Independent: Leave supporters are very 23 Jun 2016, | London 14 | positive
ddle suspicious about the pencils at polling stations 10:39 - CEST
https://t.co/ygRdXrcx66 https://t.co/m4FcG3197J
barbycotton | RT @liz_buckley: Shattered from thunder & lightning 23 Jun 2016, 4 | negative
tail and worry about the monster Brexit created. | feel like | 10:39 - CEST
I'm in a really cheap Frankensta€ |
worldnewsd | PD D’De DED%D*D%NEN,D, | D’ D4D,NEDu: 23 Jun 2016, | Russia, 0 | positive
ay DYNEDUDY“NCEDENE D‘N€D_N,D°DYD.D, D, 10:39 - CEST | Moscow
D»D_D DUNE D»Dub'D+D¥%NED NEN, DD?
DéN€ED%D*D%D»D%NeD%D2D°D»D, DKAD®
NE€DuN, DUNEDLDYD NfD“%Du D% Brexit
https://t.co/9qdFxBNhzH
wastespecia | RT @JacksonTOny: Our dear neighbours & friends are | 23 Jun 2016, | North 62 | negative
list saying ‘please remain’. 10:39 - CEST | Yorkshir
So let's do just that. We're #StrongerIn e
#EUref https://t.co/1a€ |
cut_the_cra | RT @cholt_1: #VoteLeave #TakeBackControl 23 Jun 2016, | USA, 47 | positive
p_ec #TakeControl #Brexit https://t.co/TMOzmYNBUZ 10:39 - CEST | UK,
Israel
uk_rants | really didn't think this whole ""I'd kiss all who vote 23 Jun 2016, | UK O | negative
#Brexit"" through, did 1? https://t.co/agZF4Wa1Tj 10:39 - CEST
Hay_Quaker | RT @Lad87Red: Get out & #VoteRemain. Don't ignore | 23 Jun 2016, | Hay on 12 | negative
expert after expert & gamble on Britain's future all for | 10:39-CEST | Wye,
the big #Brexit con#Remain #Ea€ | Wales
JohanBigSmi | Si les anglais vote pour le brexit vous pensez que A§a 23 Jun 2016, | Paris, 0 | negative
le va accuser l'islam ou pas ? 10:39 - CEST | lle-de-
France

HOUSE_OVERSIGHT_011216
"
IMAGES-003-HOUSE_OVERSIGHT_016388.txt,"Even the bright red line for human manipulation of human beings shows many
signs of moving or breaking completely. More than 2,300 approved clinical trials for
gene therapy are in progress worldwide. A major medical goal is the treatment or
prevention of cognitive decline, especially in light of our rapidly aging global
demographic. Some treatments of cognitive decline will include cognitive enhancements
(drugs, genes, cells, transplants, implants, and so on). These will be used off-label. The
rules of athletic competition (e.g., banning augmentation with steroids or erythropoietin)
do not apply to intellectual competition in the real world. Every bit of progress on
cognitive decline is in play for off-label use.

Another frontier of the human use of humans is “brain organoids.” We can now
accelerate developmental biology. Processes that normally take months can happen in
four days in the lab using the right recipes of transcription factors. We can make brains
that, with increasing fidelity, recapitulate the differences between people born with
aberrant cognitive abilities (e.g., microcephaly). Proper vasculature (veins, arteries, and
capillaries) missing from earlier successes are now added, enabling brain organoids to
surpass the former sub-microliter limit to possibly exceed the 1.2-liter size of modern
human brains (or even the 5-liter elephant or 8-liter sperm whale brains).

Conventional Computers versus Bio-electronic Hybrids

As Moore’s Law miniaturization approaches its next speed bump (surely not a solid
wall), we see the limits of the stochastics of dopant atoms in silicon slabs and the limits
of beam-fabrication methods at around 10-nanometer feature size. Power (energy
consumption) issues are also apparent: The great Watson, winner of Jeopardy!, used
85,000 watts real time, while the human brains were using 20 watts each. To be fair, the
human body needs 100 watts to operate and twenty years to build, hence about 6 trillion
joules of energy to “manufacture” a mature human brain. The cost of manufacturing
Watson-scale computing is similar. So why aren’t humans displacing computers?

For one, the Jeopardy! contestants’ brains were doing far more than information
retrieval—much of which would be considered mere distractions by Watson (e.g.,
cerebellar control of smiling). Other parts allow leaping out of the box with
transcendence unfathomable by Watson, such as what we see in Einstein’s five annus
mirabilis papers of 1905. Also, humans consume more energy than the minimum (100
W) required for life and reproduction. People in India use an average of 700 W per
person; it’s 10,000 W in the U.S. Both are still less than the 85,000 watts Watson uses.
Computers can become more like us via neuromorphic computing, possibly a
thousandfold. But human brains could get more efficient, too. The organoid brain-in-a-
bottle could get closer to the 20 W limit. The idiosyncratic advantages of computers for
math, storage, and search, faculties of limited use to our ancestors, could be designed and
evolved anew in labs.

Facebook, the National Security Agency, and others are constructing exabyte-
scale storage facilities at more than a megawatt and four hectares, while DNA can store
that amount in a milligram. Clearly, DNA is not a mature storage technology, but with
Microsoft and Technicolor doubling down on it, we would be wise to pay attention. The
main reason for the 6 trillion joules of energy required to get a productive human mind is
the twenty years required for training.

168

HOUSE_OVERSIGHT_016388
"
IMAGES-002-HOUSE_OVERSIGHT_013861.txt,"routine and ensure that you achieve more outside of the meeting than the attendees do within it; repeat
the disappearing act as often as possible and cite improved productivity to convert this slowly into a
permanent routine change.

Learn to imitate any good child: “Just this once! Please!!! I promise [ll do X!” Parents fall for it
because kids help adults to fool themselves. It works with bosses, suppliers, customers, and the rest of
the world, too.

Use it, but don’t fall for it. If a boss asks for overtime “just this once,” he or she will expect it in the
future.

Time Consumers: Batch and Do Not Falter

A schedule defends from chaos and whim.
— ANNIE DILLARD, winner of Pulitzer Prize in nonfiction, 1975

IF you have never used a commercial printer before, the pricing and lead times could surprise you.

Let’s assume it costs $310 and takes one week to print 20 customized T-shirts with 4-color logos. How
much and how long does it take to print 3 of the same T-shirt?

$310 and one week.

How is that possible? Simple—the setup charges don’t change. It costs the printer the same amount in
materials for plate preparation ($150) and the same in labor to man the press itself ($100). The setup is
the real time-consumer, and thus the job, despite its small size, needs to be scheduled just like the other,
resulting in the same one-week delivery date. The lower economy of scale picks up the rest: The cost for
3 shirts is $20 per shirt x 3 shirts instead of $3 per shirt x 20 shirts.

The cost- and time-effective solution, therefore, is to wait until you have a larger order, an approach
called “batching.” Batching is also the solution to our distracting but necessary time consumers, those
repetitive tasks that interrupt the most important.

If you check mail and make bill payments five times a week, it might take 30 minutes per instance and
you respond to a total of 20 letters in two and a half hours. If you do this once per week instead, it might
take 60 minutes total and you still respond to a total of 20 letters. People do the former out of fear of
emergencies. First, there are seldom real emergencies. Second, of the urgent communication you will
receive, missing a deadline is usually reversible and otherwise costs a minimum to correct.

There is an inescapable setup time for all tasks, large or minuscule in scale. It is often the same for one
as it is for a hundred. There is a psychological switching of gears that can require up to 45 minutes to

resume a major task that has been interrupted. More than a quarter of each 9-5 period (28%) is
consumed by such interruptions.

This is true of all recurring tasks and is precisely why we have already decided to check e-mail and
phone calls twice per day at specific predetermined times (between which we let them accumulate).

From mid-2004 to 2007, I checked mail no more than once a week, often not for up to four weeks at a
time. Nothing was irreparable, and nothing cost more than $300 to fix. This batching has saved me
hundreds of hours of redundant work. How much is your time worth?

Let’s use a hypothetical example:

1. $20 per hour is how much you are paid or value your time. This would be the case, for example, if you

HOUSE_OVERSIGHT_013861
"
IMAGES-010-HOUSE_OVERSIGHT_030168.txt,"13

They had no respect for state institutions or the rule of law. No
reform was possible with such vandals.

He dismissed the argument that Syria was not facing a conspiracy.
There was a conspiracy, he declared — designed abroad and
perpetrated inside the country. How else to explain the satellite
phones, the advanced weapons, the guns mounted on trucks in the
hands of his enemies? Syria had always been a target of conspiracy.
He had long been under pressure to abandon his principles. (No
doubt, by this he meant his Arab nationalist convictions, his alliance
with Iran and Hizbullah, his opposition to Israel and the United
States.) Syria needed to strengthen its immunity against such
conspiracies, he insisted.

In this defiant speech, President Asad made no mention of the abuses
of his security services -- the callous use of live fire against civilians,
the killing of well over a thousand protesters, the deployment of tanks
to besiege rebellious cities, the mass arrests, the beatings and the
torture, the flight of terrified refugees across Syria’s borders -- a
catalogue of outrages which has shattered Syria’s reputation and
earned it international condemnation. The refugees in Turkey should
return home, he said. They would not be punished. The army would
protect them. But those who have had a taste of army brutality may
not be persuaded by the President’s assurances. He did, however,
have a word of condolence for bereaved mothers.

The heart of Asad’s address was a statement of his ambition to shape
a new vision for Syria’s future. Reform, he declared, was his firm
conviction. His one big idea -- the centrepiece of his speech -- was a
plan for a National Dialogue. A special authority had been set up to
work out the necessary arrangements for this great debate, which he
hoped would provide for the widest possible popular participation.
The task was to create a forum where far-reaching political and
economic reforms could be discussed, so that legislation could then

HOUSE_OVERSIGHT_030168
"
IMAGES-010-HOUSE_OVERSIGHT_028727.txt,"constitute inside information, and is intended only for

the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_028727
"
IMAGES-001-HOUSE_OVERSIGHT_011570.txt,"abstract ideas, the theoretical sciences and, often, music as well. I would always
smile in response, suggesting that such diagnoses were probably best left to the
professionals. I couldn’t pretend, however, that emotional engagement with new
acquaintances, even with people I knew and liked but were not close friends,
was something that came naturally. And it is also true that from my first
experience of the world of numbers as a child on the kibbutz, and as I tackled
ever more elaborate pieces on the piano, I did become aware of what might be
called the upside of “a touch of Aspergers” — if that, indeed, is what it is. I was
conscious of the ease with which my brain translated the complexities into
pictures in my mind. And the joy, at times, with which it allowed me to play
around with, and develop, what I saw.

By the summer of 1967, I had experienced that feeling again, in my first real
encounter with theoretical physics at Hebrew University. After the Six-Day
War, I began seriously contemplating a future as a research scientist, or perhaps
eventually a professor of physics. Two months after the war, I enrolled in a
summer program at the Weizmann Institute, Israel’s preeminent postgraduate
research facility. Surrounded by some of the country’s, even the world’s,
leading scientists, and by post-doctoral students determined to follow in their
footsteps, was intellectually enthralling. But it turned out to have another effect
on me as well. As I thought more and more about the prospect of joining their
fraternity once I’d completed my undergraduate degree, I also heard them
describe the way in which pure science sometimes got submerged in simple
routine, or, more discouragingly, in the politics and positioning and backbiting
of the academic world.

I think what finally changed my mind, however, was a feeling, nurtured on
the kibbutz but solidified by that many nights I’d spent leading sayeret
operations across our borders, that I would find my true purpose in life trying to
make some special contribution to the future course of Israel. I did not for a
moment contemplate politics at that point. Instead, I thought of going back into
the military. I realized that in order to make a significant mark, if indeed I
could, would require me to serve in the regular army, not just an extraordinary
unit like Sayeret Matkal. But I did hope that, at some stage, I’d be given the
opportunity to finish my time in the sayeret as its commander, carrying on
Avraham’s vision and, ideally, building and expanding on it as well. At least if
that part proved possible, I felt that, by comparison, a career in academia would
be somehow blinkered, and surely less fulfilling personally. My sayeret
experience had also taught me something else as well: that protecting Israel’s
security was not just a matter of muscle, or firepower, indispensible though they

99
HOUSE_OVERSIGHT_011570
"
IMAGES-011-HOUSE_OVERSIGHT_032336.txt,"From: ehbarak

Sent: 11/7/2016 3:54:57 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: speak. JE

Importance: — High

Hi Jeff
The Trump momentum,
I believe was stopped.

Hillary might be on her way to Win. But with much lower margin, and probably still GOP controlled Senate.

Best
EB
Sent from my iPhone

On 5 Nov 2016, at 10:28, jeffrey E. <jeevacation@gmail.com> wrote:

On Sat, Nov 5, 2016 at 4:35 PM, chbarak x wrote:
Sure. Speak. When? #?

Best
EB

Sent from my iPhone

On 5 Nov 2016, at 8:52, jeffrey E. <jeevacation@gmail.com> wrote:

speak?

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

HOUSE_OVERSIGHT_032336
"
IMAGES-005-HOUSE_OVERSIGHT_019192.txt,"James PATTERSON

Epstein’s penis was deformed. [She] explained that his penis by other girls, includi
was oval shaped. [She] claimed when Epstein’s penis was Probably ~ Amaeee
erect, it was thick toward the bottom but was thin and small : also in line with what i
toward the head portion. [She] called Epstein’s penis Detective Recare
“egg-shaped.” [She] stated Epstein would photograph Mar- i on the investigation cs
cinkova and her naked and having sex and proudly display 4 It was enough a
the photographs within the home. [Alison] stated during one ’ search warrant. ae

visit to Epstein’s house in which she provided a massage to
Epstein, his female friend, Nada [sic] Marcinkova, was also a j
present. [Alison] provided the massage in which Marcinkova
and her would fondle each other's breasts and kiss for Epstein Pag
to enjoy. Towards the end of this massage, Epstein grabbed |
[Alison] and turned her over onto her stomach on the mas-
sage table and forcibly inserted his penis into her vagina:
[Alison] stated Epstein began to pump his penis in her
vagina. [She] became upset over this. She said her head was
being held against the table forcibly, as he continued to pump
inside her. She screamed “No!” and Epstein stopped. She told
him that she did not want to have his penis inside of her.
Epstein did not ejaculate inside of her and apologized for his
actions and subsequently paid her a thousand dollars for
that visit. [Alison] stated she knows he still displays her pho-
tographs through out the house.

What happened to Mary had been bad enough. But what hap- L
pened to Alison was on a whole other level. She'd been caught F
with some pot, sure. But that was hardly a felony offense. It didnt
make her a liar. And, in important respects, Alison's statement

had aligned with Mary's and with statements they'd been give

76

HOUSE_OVERSIGHT_019192
"
IMAGES-010-HOUSE_OVERSIGHT_029439.txt,"TAX BULLETIN 2018-1: TAX REFORM SIGNED INTO LAW

INDIVIDUAL TAXES (continued)

2017 Law

2018 Law

Itemized Deductions

Under the “Pease” limitation, up to 80% of
most itemized deductions are lost when
adjusted gross income exceeds $313,800
($261,500 for single taxpayers)

Repeals the Pease limitation on itemized
deductions

Mortgage interest deduction: $750,000 limit
on acquisition indebtedness retained
(principal or secondary residence);
deduction for home equity loan repealed

Deduction for state and local income, sales
tax and real property taxes limited to
$10,000 in aggregate ($5,000 for married
filing separately); deduction allowed for
state and local taxes on trade or business or
if related to production of income. Payment
of income taxes in 2017 for a subsequent

year would not be deductible in 2017.4

Deduction for medical expenses retained
and liberalized for 2017 and 2018 *

Retirement Savings

Contributions can be placed into deferred
account, up to contribution cap

Unchanged

AMT

Parallel tax calculation with top rate of 28%
and $84,500 exemption for married taxpayers
($54,300 others); phase out of exemption
begins at $160,900 for married taxpayers
($120,700 others)

Retains and modifies AMT; exemptions
raised to $109,400 (married) and $70,300
(others); phase-out of exemption begins at

$1 million for married taxpayers ($500,000

others).*

Carried Interest

Retains character as capital gain and eligible
for preferential tax rates

Requires three-year holding period to attain
long-term capital gains rate

Investment

3.8% tax on “net investment income”

Unchanged — continues to apply

Surtax

OBSERVATIONS — INDIVIDUAL TAXES

Under the Act, there will be winners and losers on the personal income tax side. Generally, wage earners from
no-tax states... could see tax savings under the Act. For instance, a Florida taxpayer earning $1 million with
moderate itemized deductions may see a tax savings of about $30,000 under the Act. A similar taxpayer in New
York State may see a savings of about $3,500 according to our preliminary analysis..©

Conversely, very high-wage earners from high-tax states could see a higher tax bill. A taxpayer earning $3 million
in New York City may see a significant tax increase: $44,000 under the Act, due in part to the loss of significant
deductions. A similar taxpayer in Florida would see a tax savings of about $91,000 under the Act (primarily due
to the lower top rate, elongated 35% tax bracket and regaining itemized deductions that are no longer phased-
out), according to our preliminary analysis.

Married couples could fare worse than two single taxpayers with a similar amount of income. The so-called
marriage penalty hits particularly hard under the new tax brackets. The penalty is also exacerbated by permitting
married couples only a $10,000 state income/real estate tax deduction, but allowing each of two single filers a
deduction in the same amount ($20,000 combined). Under the changes, a single taxpayer with $500,000 of wages

HOUSE_OVERSIGHT_029439
"
TEXT-002-HOUSE_OVERSIGHT_032546.txt,"From: Weingarten, Reid 
Sent: 5/30/2017 11:56:59 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
I was good...judge is new and afraid to go outside the box...maybe I should rep your buddy here...agreed to 
meet pence one-on-one Thursday in dc 
Sent from my BlackBerry 10 smartphone. 
From: Jeffrey E. 
Sent: Tuesday, May 30, 2017 3:54 PM 
To: Weingarten, Reid 
Subject: 
how did today go . . https://www.theguardian.com/world/2017/may/29/close-friend-trump-thomas-barrack-
alleged-tax-evasion-italy-sardinia?CMP=share btn fb  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032546 
"
IMAGES-009-HOUSE_OVERSIGHT_026821.txt,"Argentina: Elections in October bring little clarity to
future

- The August 9 mandatory open primaries (PASO) brought little clarity as to who will
succeed President Cristina Kirchner in the October 25 elections. She has held office
since 2007 and, before that, her husband held the presidency from 2003-06.

- Kirchner’s handpicked successor, current governor of Buenos Aires province, Daniel
Scioli (of the Peronist faction) leads in the elections held last week. But the 2""? and 3'¢
place finishers could band together to pull off a victory.

- The Argentine economy has seen zero growth this year. FDI has declined 41 percent
and inflation stands at 30 percent. Voters remain deeply divided over which candidate
and which economic policy to support. We expect continued problems for the
foreseeable future.

Repsol Oil Co,
© Paris Club

OW Muttilaterat funding organizations

W) Private debt tenants

“You’re only going to get this much back. . .”

Inflation and recession are clobbering the
average Argentinean.

Source: Straftor

Deutsche Bank Francis J. Kelly
Global Public Affairs francis.j.kelly@db.com 27

HOUSE_OVERSIGHT_026821
"
IMAGES-008-HOUSE_OVERSIGHT_025961.txt,"no worry,  ifiunderstand correctly you are suggsting there are layers 1 through N . lets cal them L 1 -
Ln. there aretimesT 1-Tn/ and then conjecture that changing the time . correlations ( by genetic swtch
or other method. , you might be able to make blacks smarter by changing the time for motor layer
development and changing the time for other layers. .). like telemeres for the cell , are their equivalents for
the layers. . as you talked about culling the unused neurons in each layer, each neuron in each layer would
get dfferent ( kill yourself if you are not being used instructions ).

Exactly. I looked up the statistics, black kids in the US have slower cognitive development (and never catch
up), which the study of course attributed to social factors without any evidence, and they had faster motor
development! I suspect this means their brains are slower at learning high-level concepts, because the low-
level structures are optimized for a shorter time. But they will keep the lead in motor development, because it
is easier to learn, and they have more time and attention to practice once they get the structures in place.

It could also be that they have an additional set of learning directives in place that adapts them better to a
more hunting/running style of life, whereas the Europeans had to adapt for identifying long-term seasonal
patterns, delayed gratification for agriculture etc.

and CONCEPTS could be layer to layer communicaiton. . are gender differences also a matter of time ,
and structure of interactions. .

I suspect gender differences are mostly motivational, i.e. we have a reward system for all the different social
and cognitive needs, which makes us receive different kinds of pleasure and pain, thereby pay attention and
learn. You cannot learn what does not attract your attention. Women tend to find abstract systems, conflicts
and mechanisms intrinsically boring. Most women in computer science do not write programs because they
enjoy solving puzzles, but because they want to help people, get approval etc. There are almost no women in
math, because it does not help people or yield social attention.

Men tend to find elaborate social relations boring. If there is no pleasure in observing and empathizing with
people, one will not have good social cognition.

IQ is not the only meaningful difference. Chinese pay an inordinate amount of attention to authority. I suspect
historically., the authorities tended to kill them a lot if they did not. Jews tend be intellectually independent
and anti-authoritarian, which might make them creative and inventive in ways that are hard to find in Asia.

At the moment, I think speed/quality of brain development plus motivational system are the key to
understanding both mind and individual differences. Important part of human language might be the result in
a motivational need to discover/invent grammatical structure, which as a side effect makes us interested in
music.

It would mean that Chomsky’s life long hypothesis, that people have a special circuit for grammatical
language, is wrong. They might be GENERAL learners, just like Gorillas, but with a strong motivational urge
to build grammatical structure, which the brain simply invents (there are only a few ways in which a natural
language can work). That is much easier to wire into a brain than a specific circuit.

imy self believe that african music, westrn music , chinese music are a window into the the structure of
those layers. . western rigid, african primitve , chinese nature based,. I belive that synphoic movments
best describe your layering. | they open with a basic simple melody, , after it is learned , it is repeated and ""
developed"" , inverted, distorted, related, etc. the development stage take a long time. then there is a

HOUSE_OVERSIGHT_025961
"
IMAGES-001-HOUSE_OVERSIGHT_012079.txt,"Ss] ROCKEFELLER & CO. alan:

6}
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CD
MI.
Ss
ct

Where we see investment opportunities after eight years of rising markets

BY DAVID P. HARRIS, CFA pages 2-5

Yesterday Once More; Leveling the Playing Field The Promise of Governance
Tomorrow Never Knows BY MICHAEL D. SEO, CFA Reform — South Korea

BY JIMMY C. CHANG, CFA pages 10-13 BY MARIELA M. VARGOVA, PH.D.
pages 6-9 pages 14-15

GLOBAL FORESIGHT THIRD QUARTER 2017 1

HOUSE_OVERSIGHT_012079
"
IMAGES-012-HOUSE_OVERSIGHT_033290.txt,"This message and its attachments may contain legally privileged or confidential information. It is intended
solely for the named addressee. If you are not the addressee indicated in this message (or responsible for
delivery of the message to the addressee), you may not copy or deliver this message or its attachments to
anyone. Rather, you should permanently delete this message and its attachments and kindly notify the sender by
reply e-mail. Any content of this message and its attachments that does not relate to the official business of Fox
News or Fox Business must not be taken to have been sent or endorsed by either of them. No representation is
made that this email or its attachments are without defect.

HOUSE_OVERSIGHT_033290
"
IMAGES-011-HOUSE_OVERSIGHT_030521.txt,"communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030521
"
IMAGES-004-HOUSE_OVERSIGHT_016830.txt,"scientists are doing science, especially in such data-intensive sciences as sociology and
epidemiology, for which causal models have become a second language. These
disciplines view their linguistic transformation as the Causal Revolution. As Harvard
social scientist Gary King puts it, “More has been learned about causal inference in the
last few decades than the sum total of everything that had been learned about it in all
prior recorded history.”

As I contemplate the success of machine learning and try to extrapolate it to the
future of AI, I ask myself, “Are we aware of the basic limitations that were discovered in
the causal-inference arena? Are we prepared to circumvent the theoretical impediments
that prevent us from going from one level of the hierarchy to another level?”

I view machine learning as a tool to get us from data to probabilities. But then we
still have to make two extra steps to go from probabilities into real understandingnce—
two big steps. One is to predict the effect of actions, and the second is counterfactual
imagination. We cannot claim to understand reality unless we make the last two steps.

In his insightful book Foresight and Understanding (1961), the philosopher
Stephen Toulmin identified the transparency-versus-opacity contrast as the key to
understanding the ancient rivalry between Greek and Babylonian sciences. According to
Toulmin, the Babylonian astronomers were masters of black-box predictions, far
surpassing their Greek rivals in accuracy and consistency of celestial observations. Yet
Science favored the creative-speculative strategy of the Greek astronomers, which was
wild with metaphorical imagery: circular tubes full of fire, small holes through which
celestial fire was visible as stars, and hemispherical Earth riding on turtleback. It was
this wild modeling strategy, not Babylonian extrapolation, that jolted Eratosthenes (276-
194 BC) to perform one of the most creative experiments in the ancient world and
calculate the circumference of the Earth. Such an experiment would never have occurred
to a Babylonian data-fitter.

Model-blind approaches impose intrinsic limitations on the cognitive tasks that
Strong Al can perform. My general conclusion is that human-level AI cannot emerge
solely from model-blind learning machines; it requires the symbiotic collaboration of
data and models.

Data science is a science only to the extent that it facilitates the interpretation of
data—a two-body problem, connecting data to reality. Data alone are hardly a science,
no matter how “big” they get and how skillfully they are manipulated. Opaque learning
systems may get us to Babylon, but not to Athens.

27

HOUSE_OVERSIGHT_016830
"
IMAGES-007-HOUSE_OVERSIGHT_024384.txt,"From: Bill Siege! i)

Sent: 2/8/2013 7:40:43 PM
To: Charlotte Abrams iy
Subject: Fro- The Control Factor - Frontpage Magazine interview

Attachments: image001.gif; image002.jpg; image003.png; image004.png; image005.jpg; image006.jpg; image007.png

Bill Siegel hopes this might be of interest to you: http://frontpagemag.com/2013/jamie-glazov/the-control-factor-our-

struggle-to-see-the-true-threat/

The Control Factor: Our Struggle to See the True
Threat

February 8, 2013 By Jamie Glazov Comments (6)

pe.
eh Print This Post

THE

CONTROL
FAG DORK

Our Struggle to See the True Thee

BILL STEGEL

FrontPage Interview’s guest today is Bill Siegel, a lawyer and business
executive. He has been a producer of several documentary films and assists numerous non-profit organizations.
He is the author of The Control Factor: Our Struggle to See the True Threat.

FP: Bill Siegel, welcome to FrontPage Interview.
Congratulations on this brilliant book. It is without question one of the most vital works of our time.
Let’s begin with what inspired you to write it.

Siegel: Thanks for having me Jamie. As a young boy born in the mid 1950s, I was fascinated with footage of
Hitler and the Third Reich and could never understand how the Jews of the time could not see the evil that
seemed so obvious. Not yet appreciative of the benefit of hindsight, I could not comprehend the blindness.
Following 9/11, like so many others, I began to study Islam, its history, its current movements, terrorism and so

HOUSE_OVERSIGHT_024384
"
IMAGES-009-HOUSE_OVERSIGHT_026835.txt,"From: Bob Crowe as

Sent: 3/11/2016 12:24:18 PM
To: jeevacation@gmail.com
Subject: FW: RE : RE: Revised letter. Arbitrary detention of Mr. Wade

Attachments: image001.gif

Importance: — High

Robert B. Crowe Partner| Nelson Mullins
One Post Office Square, 30th FI., Boston, MA 02109
101 Constitution Avenue NW, Washington, DC 20001

ee
Be e—C—C‘SCSCs

From: abuulabass [mailto:

Sent: Wednesday, March 02, 2016 12:31 PM

To: Vinoda Basnayake; elisabeth feliho

Cc: Bob Crowe; Mohamed Seydou Diagne; El Hadji Amadou Sall
Subject: RE : RE: Revised letter. Arbitrary detention of Mr. Wade

Congratulations Vinoda ! The French version of the paper was published today in the Senegalese major
newspapers. You can see it also in Seneweb.com .

Many thanks for the good work with my best regards.

Tidiane

Envoyeé depuis mon appareil Samsung

-------- Message d'origine --------

De : Vinoda Basnayake <—

Date : 02/03/2016 16:20 (GMT+00:00)

A: elisabeth feliho fa

Cc : Bob Crowe {i >, Cheikh Tidianc Sy (>, Mohamed

Scydou Diagn: i, | Hadji Amadou Sal a >
Objet : RE: Revised letter. Arbitrary detention of Mr. Wade

We have had some positive feedback from the article. Now the issue certainly has more visibility in Washington. Bob is
in the process of setting up the meeting with Tom at the State Dept regarding the Human Rights Report for 2016. Will
send more as we get more details.

Vinoda

Vinoda Basnayake

HOUSE_OVERSIGHT_026835
"
TEXT-001-HOUSE_OVERSIGHT_025296.txt,"﻿LAFFER ASSOCIATES
Supply-Side Investment Research
May 19, 2016
10-yr T-Note: 1.86% DJIA: 17,526.62 NASDAQ: 4,739.12 S&P 500: 2,047.63 S&P 500 Undervalued: 151.8%
GAME ON [Updated 7/6/2016]
By Arthur B. Laffer, Ph.D.
Summary
To save you the agony of plodding through this fascinating, information-rich paper, I’ll get straight to the point: Donald Trump
will be the next President of the United States after having won an easy victory over Hillary Clinton in November 2016. The
reasons:
I.)
II.)
III.)
Section one shows that the essential characteristics of the narrative for the Trump campaign and the Reagan campaign
of 1980 are surprisingly similar, which would point to a Trump landslide.
Section two describes the poor state of the current economy using detrended GDP per adult, the ratio of employmentto-adult-population
and new home sales per 1,000 adults and how these measures strongly indicate a Republican
victory.
Using historical data for the Gallup poll question “are you satisfied” and presidential election dates, this section would
point to an overwhelming Republican win in November 2016.
IV.) Relying on voter turnout data this year versus earlier years and party selection, the Republicans have a large advantage
coming into the Fall election.
V.)
Basing our forecast on the past eight years of Congressional elections—House and Senate—as well as state elections
of house, senate and governors, the Republicans should be exceedingly confident about the upcoming presidential
election.
VI.) Taking careful measure of what both Hillary Clinton and Donald Trump have done in the public eye, Trump has the
issues on his side.
I. 1979-1980 How the Reagan Revolution Began
In early 1979, a group of Ronald Reagan acolytes—some 10 to 15 in total—got together in Justin Dart’s office at Rexall (the
corner of La Cienega and Beverly) and there they formed the original Reagan Executive Advisory Committee. With very few
exceptions (initially only me), this group had been called Reagan’s Kitchen Cabinet. Those present and those also invited
included Justin Dart, Holmes Tuttle, Jack Wrather, Bill French Smith, Bill Wilson, Earle Jorgensen, Ben Biaggini, Ted
Cummings, Alfred Bloomingdale, Charles Wick, Henry Salvatori et moi. I was the youngest of the group by three decades.
And, in fact, the only way Justin Dart could convince the others to let me be a member was that they needed someone to keep
the minutes of the meetings, i.e. as a secretary. In speaking with a reporter about the Kitchen Cabinet, here’s what Jus Dart
had to say: “In addressing the question of how many of Reagan's friends actually qualify as members, Dart said: ‘Damn fewer
than is generally advertised.’” 1 That just says it all.
The purpose of this committee was to provide guidance and support to the emerging presidential candidacy of one Ronald
Reagan. The members were to a person close, close, close friends and supporters of Ronald Reagan or husbands of Nancy
Reagan’s best friends. And the race for the White House began.
During this pre-primary and primary process, Ronald Reagan was disrespected and abused by a significant segment of the
Republican establishment. 2 He was called an empty suit, a trigger-happy California cowboy, only an actor, a person who
spoke words others wrote, a racist, a bigot, a divorcée, a war monger and the man who would start the Third World War. My
favorite slur came from none other than the Democratic Party’s “éminence grise” Clark Clifford, 3 who referred to Ronald
Reagan as an “amiable dunce.” The torrent of anti-Reagan epithets never stopped.
1
“Industrialist Justin Dart has declared President Reagan's 'kitchen cabinet',” United Press International, March 26, 1981.
http://www.upi.com/Archives/1981/03/26/Industrialist-Justin-Dart-has-declared-President-Reagans-kitchen-cabinet/4240354430800/
2
There is a display at the Young Americans Foundation in Santa Barbara of a number of these anti-Reagan videos by any number of Republican and
Democratic stalwarts.
3
As if receiving divine retribution for his nasty ways, Clark Clifford, who served as Secretary of Defense for President Johnson and as an advisor to
Presidents Truman, Kennedy and Carter, was indicted in the early 1990s on charges of conspiracy, fraud and bribery surrounding the Bank of Credit
and Commerce International scandal.
For more, see: http://www.nytimes.com/1998/10/11/us/clark-clifford-a-major-adviser-to-four-presidents-is-dead-at-91.html?pagewanted=all
103 Murphy Court, Nashville, TN 37203 (615) 460-0100 FAX (615) 460-0102
Laffer Associates Game On [Updated 7/6/2016]
In fact, the whole group of us received virtually no support from the Republican Party or the Party’s elders. It wasn’t until
Reagan had finally defeated George Bush, along with John Connally, Howard Baker, Phil Crane, Bob Dole and John Anderson
in the primary race, that there was any attempt to be conciliatory to Ronald Reagan’s presidential campaign by the Republican
powers that were. Even Barry Goldwater, whose career owed so much to Ronald Reagan, was cool at best to a Reagan
presidency.
I remember one post-Bush-defeat meeting of our committee when we had already secured the nomination and George Herbert
Walker Bush sat next to me and lightly apologized for referring to me as the “Voo-Doo Economist.” In truth, I had sort of
enjoyed the handle, and told H.W. Bush that I was delighted he finally had come to join us because I needed some fellow
Yalies to up the quality of our group. He laughed.
Things had been so vitriolic and bad during the primary campaign that a number of Republicans couldn’t in clear conscience
support Ronald Reagan at all and others could only support him in name only. And one of the primary contestants, John
Anderson, Republican Congressman from Illinois, was so offended by Ronald Reagan’s nomination that he decided to run as
an independent in the general election, which he did. While, in hindsight, John Anderson’s decision may now seem like a nonevent,
it sure wasn’t seen as a frivolous gesture back then. Ronald Reagan looked like a sure loser with both a moderate
Republican opponent and a sitting Democratic President, with all the privilege, prestige and power that the Office of the
President holds.
At the convention in Detroit City, I testified before the platform committee on what I thought Reaganomics would be—which
was lots of fun. But, the real drama occurred when it came time to select Ronald Reagan’s running mate. Showing no signs
of remorse or respect for the primary voters, the Party’s establishment conspired to browbeat Ronald Reagan into accepting
Gerald Ford as Ronald Reagan’s co-president running mate. They—the establishment—were absolutely certain that Ronald
Reagan would be blown away by Carter in November of 1980 and that the down ticket Republican candidates would get their
lunch handed to them. So much for the wisdom of Republican elders and insiders.
In other words, just like today in re Donald Trump, the party’s cognoscenti were forecasting a huge Reagan defeat that would
carry with it large numbers of House members and Senators. Reagan, they thought, would prove to be more devastating to
Republicans than either the Goldwater defeat of 1964 or the Ford defeat of 1976.
As you all know, none of this happened. We handily defeated Carter, even though we were behind in the polls as recently as
1 week before the election. 4 Reagan took 44 states and 50.7% of the popular vote to Carter’s 41% of the vote and Anderson’s
6.6% of the vote. Whodathunkit? I’m naturally an optimist, but I’ve never been more optimistic than I am today or than I was
in 1980, and I’ve never had more fun than I had in the several years before Ronald Reagan’s election. The Reagan saga of
1980 seems a lot like the Trump story today.
II. “It’s the Economy Stupid” – James Carville 1992
In the 2016 primaries, each and every Republican candidate promised lower tax rates, restrained government spending, sound
money and greatly lessened regulations. The mantra was repeal “Obamacare,” eviscerate Dodd-Frank and cut taxes. There
couldn’t have been a more supply-side, pro-growth field of candidates assembled in the entire history of our nation—not one
outlier. It almost became a Republican feeding frenzy as to who could propose the lowest tax rate and create the most growth.
Debates on economic issues were super boring and hyperbole as to who could be the most pro-growth supply sider infused
the air we breathe. In truth, every Republican, from Jim Gilmore to Donald Trump, understood that America was in free fall
and needed a huge dose of incentive alignments. There was very little room for debate on the issues because the candidates
all agreed with each other.
The Democrats, once O’Malley, Webb and Chafee exited stage left, were pulling each other further and further to the “Free
Lunch Tax the Rich” ticket. Already way over-subsidized, students were promised free college by Sanders, and America would
have a $15 federal minimum wage everywhere. And then there was expanded free health care, huge tax increases on Wall
Street exploiters and on the rich in general. The Walton family was singled out as the perfect example of what’s wrong with
America: one family whose net worth was close to $150 billion and whose legacy company, Walmart, paid workers’ wages so
low that full-time employees qualified for welfare. The Democrats defined their enemies as the most successful innovators,
investors, job-creators and employers in America.
The Democrats also, in their never-ending debates, careened further and further toward “from each according to his ability and
to each according to his need” paradise. The most enthusiastic crowds were energized by the endearing, wild-eyed,
septuagenarian Socialist whose unkempt, long white hair became emblematic of “enough is enough already”: Uncle Bernie
Sanders. Who doesn’t love Bernie Sanders? Or, as his throngs of acolytes scream, who doesn’t “feel the Bern?”
4
Reagan’s surge in polls is generally attributed to the presidential debate held one week before the election took place, on October 28 th , immediately
after which Reagan appears to have moved into a 3 point lead. See: Lydia Saad, “Late Upsets Are Rare, but Have Happened,” Gallup, October 27,
2008. http://www.gallup.com/poll/111451/late-upsets-rare-happened.aspx
2
1950
1954
1958
1962
1966
1970
1974
1978
1982
1986
1990
1994
1998
2002
2006
2010
2014
Laffer Associates Game On [Updated 7/6/2016]
Hillary’s and Bernie’s kabuki dance is far from over. The continued Sanders’ humiliation and exposé of Clinton is profoundly
damaging to the Democrats’ prospects, while the Republicans have just chosen their candidate. Someone ought to tell that
to Bill Kristol.
What is patently obvious from the rise of Bernie Sanders and the massive, hard fought battle in the Republican primary is that
economic discontent is at an all-time high. The electorate wants economic change NOW.
But, then there’s Hillary Clinton’s take on the economy and the Obama record. Like Pat Buchanan’s protectionist niche some
20 years ago, there is a segment of America that truly likes the Obama record. But, that segment is not even close to being
large enough to elect a winner.
Hillary Clinton’s political and academic credentials are second to none—Wellesley undergraduate, Yale Law School,
Watergate trial activist, Rose Law firm lawyer, First Lady, Senator from New York, and President Obama’s Secretary of State.
She has been indefatigably toiling her way through the political superstructure to be the next President of the United States:
the incarnation of an Obama third term and protector of the Obama legacy. This tack that she has taken is helpful in the
Democratic primary, especially among African Americans, but is a very large mistake in a general election and reflects poorly
on her political judgement.
Judging from the three most important metrics of the economy: i.) detrended real nondefense GDP per adult from 1950 to the
present, ii.) employment as a share of adult population during the post-World War II period, and iii.) new housing sales per
1,000 adults over the past 55 years, anyone who runs on the Obama record is at a great, great, great disadvantage.
Just look at each of these three measures of economic performance:
30%
26%
22%
Eisenhower I
Eisenhower II
Kennedy
Johnson
Figure 1
Real Nondefense GDP Per Adult Detrended 5
(quarterly, 1Q-50 to 4Q-15)
Nixon I
Nixon II
Carter
Reagan I
Reagan II
H.W. Bush
Clinton I
Clinton II
Bush I
Bush II
Obama I
Obama II
30%
26%
22%
18%
18%
14%
14%
10%
10%
6%
6%
2%
2%
% Deviation from Trend
-2%
-2%
Note: Real GDP per Adult Trend = 1.88% Average Annual Growth from 1Q1950 to 4Q2015
Source: Bureau of Economic Analysis, Bureau of Labor Statistics, Laffer Associates
Even when a president’s term ends on a high note, as was the case with Presidents Kennedy, Reagan and Clinton, it is a
challenge for the incumbent party to maintain the White House. Thus, given that detrended real nondefense GDP per adult as
a measure of our country’s economic performance has ended on very low notes for Obama, “W” Bush and Bush Sr., it is clear
5
Note: the gray vertical lines in figures throughout this paper represent the election dates of these individual presidents. The reason for this (rather
than placing vertical lines on inauguration dates) is that we’re using economic metrics throughout this paper as indicators of votes rather than as
descriptors for the success or failure of presidential policies.
3
Jan-48
Jan-50
Jan-52
Jan-54
Jan-56
Jan-58
Jan-60
Jan-62
Jan-64
Jan-66
Jan-68
Jan-70
Jan-72
Jan-74
Jan-76
Jan-78
Jan-80
Jan-82
Jan-84
Jan-86
Jan-88
Jan-90
Jan-92
Jan-94
Jan-96
Jan-98
Jan-00
Jan-02
Jan-04
Jan-06
Jan-08
Jan-10
Jan-12
Jan-14
Jan-16
Laffer Associates Game On [Updated 7/6/2016]
that the economy is shouting for a party change. This does not bode well for the Democratic Party, which continues to endorse
the current status quo.
And to confirm GDP growth’s implications, we also have the disappointing measure of employment to adult population. Again,
there is every reason on Earth to change parties now. There literally has been no Obama recovery, and Hillary Clinton
promises she’ll do more of the same. The U.S. has about 10 million fewer jobs per year than we would have had if the ratio
of employment to adult population were what it was in mid-2000.
Just compare the ascent of the employment to adult population ratio for the eight years of Obama to the Johnson years, or
even to the Nixon years, and especially to the Reagan and Clinton years. This Obama economy really isn’t a recovery, let
alone a strong recovery, as one would expect should have happened following the devastating collapse of the Great
Recession. Why would Hillary Clinton want to run on the Obama record? It’s beyond me.
65
64
63
Eisenhower I
Eisenhower II
Kennedy
Johnson
Figure 2
Civilian Employment-to-Population Ratio
(monthly, Jan-48 to Mar-16, percentage points)
Nixon I
Nixon II
Carter
Reagan I
Reagan II
H.W. Bush
Clinton I
Jan-90:
63.2
Clinton II
Apr-00:
64.7
Bush I
Bush II
Dec-06:
63.4
Obama I
Obama II
65
64
63
62
Sep-03:
62.0
62
61
60
Feb-79:
60.1
Dec-91:
61.2
Mar-16:
59.9
61
60
59
58
57
56
55
Jul-48:
57.1
Oct-49:
54.9
Mar-53:
58.1
Jul-54:
55.0
Jan-56:
57.8
Apr-58:
55.2
Jun-60:
56.5
Sep-61:
55.0
Aug-69
to Dec-
69: 58.1
Jun-71:
56.2
Nov-73 to
Mar-74:
58.2
Jun-75:
55.8
Feb-83 to
Mar-83:
57.1
Nov-10:
58.2
59
58
57
56
55
54
54
Source: Bureau of Labor Statistics
Using detrended real GDP per adult and total employment per adult, there have been two elections since Truman was elected
in 1948 that appear to contradict my economic improvement hypothesis—the Nixon election in 1968 and the Obama reelection
in 2012. Both of these elections appear to have had very strong extraneous factors at work. For Nixon’s success, the huge
outrage against Johnson’s handling of the Vietnam War could well have overpowered the seemingly good economy and for
Obama in 2012 a high racial sensitivity quotient could also have tipped the scales. If anything, today the war and racial
sensitivity issues operate against the Democrats.
What I beg you to look at carefully are the virtually identical precipitous drops in the economy immediately preceding the
Presidencies of Ronald Reagan and Barack Obama and the totally opposite results during their respective Presidencies. I just
can’t see how a pro-Obama candidate can win in 2016.
4
Laffer Associates Game On [Updated 7/6/2016]
And, of course, without a housing recovery, there can’t be prosperity, and, as shown in Figure 3 below, there is very little
prospect for a housing recovery anytime soon.
20
18
16
14
Kennedy
Johnson
Nixon I
Nixon II
Figure 3
New Home Sales per 1,000 Adults
(monthly, single-family homes, SAAR, Jan-60 to Mar-16)
Carter
Reagan I
Reagan II
H.W. Bush
Clinton I
Clinton II
8.4 is
average
Bush I
Bush II
Obama I
Obama II
20
18
16
14
12
12
10
10
8
8
6
4.3
6
4
4
2
2
0
0
Jan-60 Jan-65 Jan-70 Jan-75 Jan-80 Jan-85 Jan-90 Jan-95 Jan-00 Jan-05 Jan-10 Jan-15
Source: U.S. Census Bureau, Bureau of Labor Statistics
Far from being a change agent, once Obama took office, he doubled down on the Bush economic agenda, kept Bush’s key
economic advisors and thereby created further down-drafts for the economy.
The simple fact that absolutely leaps off these charts is the abysmal record attained by the 7+ years of the Obama
Administration. To be fair, the decline began when “W” took office and accelerated greatly when Bush, aided by Geithner and
Bernanke, bailed everyone out and spent huge sums of U.S. resources trying to stimulate the economy—all to no avail. To
me, the circumstances today are almost identical to those of 1980—16 years of bad economics about to be followed by a
political renaissance.
For Hillary Clinton, the Obama record on the economy will be her biggest negative come November. And the very fact that
she actually sought out and embraces this legacy speaks volumes about her judgement.
III. All Elections are Referenda on Incumbents
The Mood of the Country – The History of the Gallup Poll
Whether fair or not, Hillary Clinton is viewed as a Democratic insider and establishment regular. As such, she benefits greatly
in her ability to raise money and attract superdelegate support. But, there’s also a downside to being a Democratic insider
and establishment regular today. When the electorate is unhappy with the direction the country is heading, she’ll also be
blamed right along with the President and other members of his party. This is exactly what happened to the Presidencies of
Johnson, Nixon, Ford, Carter, Bush Sr., Bush “W” and presumptively Obama.
If any one of you remembers the contested Democratic primary of 1980 when Senator Ted Kennedy challenged his party’s
sitting President, you will be reminded of the current Democratic primary where Bernie Sanders continues to humiliate Hillary
Clinton, primary after primary. While Senator Kennedy lost in his quest to secure the Democratic nomination, he clearly
exposed all the weaknesses of President Carter, just as Senator Bernie Sanders is exposing Hilary Clinton’s vulnerability.
This can’t be good news for Mrs. Clinton.
For quite some time now, I have been using the Gallup poll question, “Are you satisfied with the way things are going?” as my
measure of the electorate’s level of discontent. This question has been posed by Gallup for years and years and, thus, the
5
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Laffer Associates Game On [Updated 7/6/2016]
electorate’s response to this question reflects a consistent indicator over a long period of time: in fact, long enough for us to
get a sense of whether this measure is a reliable guide to help forecast election results (see Figure 4). It is:
In my paper “Senate Outlook” of October 2, 2014, I relied heavily on this Gallup question to arrive at my outlandish forecast of
a seven seat gain for the Republicans in that year’s Senate races. My forecast of a seven seat pickup was probably the most
optimistic forecast at the time for the Republicans. But, as it turned out, I was off by two! The Republicans actually picked up
nine seats—West Virginia, Montana, South Dakota, Arkansas, Alaska, Louisiana, Iowa, North Carolina and Colorado—and
lost none.
100%
90%
80%
70%
Figure 4
The Gallup “Are You Satisfied?” Survey
(Feb 2-5, 1979 through Feb 3-7, 2016)
In general, are you satisfied or dissatisfied with the way things are going in the United States at this
time? NOTE: This chart shows ""satisfied""
Reagan I
Reagan II
H. W. Bush
Clinton I
Clinton II
W. Bush I
W. Bush II
Obama I
Obama II
100%
90%
80%
70%
60%
60%
50%
50%
40%
40%
30%
30%
20%
20%
10%
10%
0%
0%
Source: Gallup
The predictive power of this Gallup poll’s “are you better off?” question since the election of 1980 is pretty impressive. Both of
Reagan elections were right in sync with Gallup’s poll survey at November of 1980 and November of 1984. Likewise, Bush
Senior’s election in November of 1988 was seen as Reagan’s third term and was foreseen by the Gallup poll question.
And then both Clinton elections were right in line with the survey results from the Gallup poll questions in November of 1992
and November of 1996.
Bush the younger’s election in 2000 is anomalous, but his reelection in 2004 is consistent with the measure as was McCain’s
(really it was Bush’s) defeat in November 2008. The 2012 election also appears contrary to the survey response to the poll
question. If this poll reestablishes its predictive power in 2016, Trump wins in a Reagan-like landslide.
IV. Primary Colors
While perhaps subtle, what happens in contested presidential primaries is also a harbinger of general elections. And if the
current Democratic and Republican primaries are accurate measures of voter enthusiasm, the Democrats are facing a tough
up-hill fight against Republicans to say the least.
Using only states with party primaries, i.e. not state caucuses, and only party primaries up to the time when Donald Trump
became the presumptive Republican presidential nominee, which was following the May 3 rd Indiana primary, there has been
a large increase in voter turnout for the Republicans in 2016 when compared to either 2008 or 2012. In fact, in the 28 state
primaries through May 3 rd , the total number of Republicans who actually voted in those primaries has increased by 57.2% over
2008 and 67.1% over 2012 (see Table 1 on page 8). And, using unweighted state numbers, the 2016 Republican primary
6
Laffer Associates Game On [Updated 7/6/2016]
voter turnout is up 66.6% over 2008 and 103.0% over 2012. I use both total turnout as well as equal weighted state turnout
because our Electoral College system for selecting a president is a combination of both. These numbers are astounding and
by themselves speak volumes for Republican prospects in 2016. And it is not just the Trump phenomenon; it’s the Trump
phenomenon plus much more.
But, the situation is worse for Democrats. When juxtaposed to the Democratic turnout in 2008 and 2016, the 2016 Republican
turnout looks even stronger. Remember, the 2012 Democratic primary was a non-event because President Obama, then a
sitting President, was running for nomination essentially uncontested. We therefore focus exclusively on the change from the
2008 to the 2016 Democratic Party turnout, which, using the same states, is down in total by 20.1%. And, using equal-weighted
state numbers, it’s down by 16.2%. On a state-by-state comparison, Republican turnout is way up, and Democratic turnout is
way down. Someone should ring the Democratic alarm bell.
And, even head-to-head comparisons of absolute voter turnout between the Democratic and Republican primaries in 2016
and 2008 give the Republicans a definite edge for the elections of 2016 and an enormous increase over 2008. So far in 2016,
there have been 3.5 million more Republicans voting in their party’s primaries than there have been Democrats. In 2008, the
Democrats had over 11.3 million additional primary voter advantage over their Republican counterparts. This enormous
increase in Republican voter turnout over Democrats in 2016 plus the fact that there are more Republican voters in 2016 than
Democratic voters should be perhaps the single most disturbing statistic if you are a Hillary supporter, especially given the
exceptional enthusiasm for Bernie Sanders in what has turned out to be a down primary turnout for Democrats.
Even on a state-by-state basis, the flip from Democrat to Republican has been pronounced. So far in this 2016 primary season,
there are 14 new states that had Republican turnout in excess of Democratic turnout, i.e. those states in 2008 had more
Democratic turnout than Republican turnout, while in 2016 Republican turnout exceeds Democratic turnout. These states are
not, as Bernie Sanders would say, “chopped liver.” They include Arkansas, Georgia, Indiana, Mississippi, Missouri, New
Hampshire, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia and Wisconsin. When it comes to
the electoral college, flipping a state is far more important than is increasing the margin of victory.
What should be even more alarming to the Democrats than the party flip against Democrats in the 14 states that have already
had primaries is the fact that so far in every state, save Michigan, Democratic voter advantage over Republican’s has declined.
And Michigan, without trying to reach too far for excuses, appears to hinge on the tragedy of the Flint water contamination and
Mitt Romney’s candidacy in 2008 and 2012. And so as not to take everything away from the unique Michigan phenomenon,
it still must be remembered that in both 2008 and 2016, Republican primary turnout in Michigan was greater than Democratic
turnout.
7
Laffer Associates Game On [Updated 7/6/2016]
Table 1
Primaries Completed as of May 3 rd
Republican Primary Turn Out % Increase
2016 from
% Increase
2016 from
Democrat Primary Turn Out
2008 2012 2016 2008
2012 2008 2016
% Increase
2016 from
2008
Democrat
Advantage
2008
Democrat
Advantage
2016
Alabama 552,209 621,916 860,652 55.0% 38.4% 536,626 396,851 -26.0% (15,583) (463,801)
Arizona 541,767 511,239 625,770 -2.1% 22.4% 456,626 468,461 2.6% (85,141) (157,309)
Arkansas 229,882 152,360 410,920 76.8% 169.7% 315,839 221,020 -30.0% 85,957 (189,900)
Connecticut 151,605 59,639 213,372 40.8% 257.8% 355,561 328,467 -7.6% 203,956 115,095
Delaware 50,237 28,592 69,892 39.1% 144.4% 96,341 93,640 -2.8% 46,104 23,748
Florida 1,949,498 1,676,176 2,361,805 20.8% 40.9% 1,749,920 1,709,183 -2.3% (199,578) (652,622)
Georgia 963,541 901,470 1,295,963 34.2% 43.8% 1,060,851 765,366 -27.9% 97,310 (530,597)
Illinois 899,422 933,454 1,449,748 57.8% 55.3% 2,038,614 2,056,047 0.9% 1,139,192 606,299
Indiana 412,684 635,589 1,110,543 167.2% 74.7% 1,278,355 638,779 -50.0% 865,671 (471,764)
Louisiana 161,169 186,410 301,241 86.9% 61.6% 384,346 311,776 -18.9% 223,177 10,535
Maryland 320,989 248,468 459,066 35.0% 84.8% 878,174 916,763 4.4% 557,185 457,697
Massachusetts 501,997 370,425 637,703 25.8% 72.2% 1,263,764 1,220,296 -3.4% 761,767 582,593
Michigan 869,169 996,499 1,323,589 52.4% 32.8% 594,398 1,205,552 102.8% (274,771) (118,037)
Mississippi 143,286 293,787 416,252 182.8% 41.7% 434,110 227,164 -47.7% 290,824 (189,088)
Missouri 588,844 252,185 939,270 58.6% 272.5% 825,050 629,425 -23.7% 236,206 (309,845)
New
Hampshire
234,625 249,534 287,683 21.1% 15.3% 288,672 254,776 -11.7% 54,047 (32,907)
New York 670,078 190,515 921,771 27.9% 383.8% 1,891,143 1,970,900 4.2% 1,221,065 1,049,129
North Carolina 1,335,052 973,206 1,149,705 -14.7% 18.1% 1,580,726 1,143,293 -27.7% 245,674 (6,412)
Ohio 1,095,917 1,213,879 2,014,396 86.4% 65.9% 2,354,721 1,259,754 -46.5% 1,258,804 (754,642)
Oklahoma 335,054 286,523 459,922 37.2% 60.5% 417,207 335,843 -19.5% 82,153 (124,079)
Pennsylvania 829,129 808,115 1,594,475 88.8% 97.3% 2,354,005 1,681,427 -28.6% 1,524,876 86,952
Rhode Island 27,237 14,564 62,331 125.5% 328.0% 186,657 124,960 -33.1% 159,420 62,629
South Carolina 445,499 603,770 745,405 65.6% 23.5% 532,151 373,063 -29.9% 86,652 (372,342)
Tennessee 553,815 547,561 855,729 54.3% 56.3% 624,764 377,222 -39.6% 70,949 (478,507)
Texas 1,362,322 1,449,477 2,836,488 107.9% 95.7% 2,874,986 1,435,895 -50.1% 1,512,664 (1,400,593)
Vermont 40,120 60,850 61,756 52.1% 1.5% 155,279 135,256 -12.9% 115,159 73,500
Virginia 489,252 265,570 1,025,425 109.5% 286.1% 986,203 785,041 -20.4% 496,951 (240,384)
Wisconsin 529,932 787,847 1,105,944 107.1% 40.4% 1,113,753 1,007,600 -9.5% 583,821 (98,344)
Total Votes 16,284,331 15,319,620 25,596,816 57.2% 67.1% 27,628,842 22,073,820 -20.1% 11,344,511 (3,522,996)
EW % Change 66.6% 103.0% -16.2%
8
Laffer Associates Game On [Updated 7/6/2016]
Table 2
Primaries Following May 3 rd
Republican Primary Turn Out % Increase
2016 from
% Increase
2016 from
Democrat Primary Turn Out
2008 2012 2016
2008 2012
2008 2016
% Increase
2016 from
2008
Democrat
Advantage
Nebraska 136,648 185,402 197,430 44.5% 6.5% N/A Caucus N/A N/A N/A
2008**
Democrat
Advantage
West Virginia Caucus 112,416 202,880 N/A 80.5% 456,282 241,016 -47.2% N/A 38,136
Kentucky Caucus Caucus Caucus N/A N/A 701,768 454,573 -35.2% N/A N/A
Oregon 353,476 287,955 408,937 15.7% 42.0% 641,499 641,595 0.0% 288,023 232,658
Washington 529,932 Caucus 608,128 14.8% N/A N/A N/A N/A N/A N/A
California 2,932,812 1,924,970 2,162,810 -26.3% 12.4% 5,066,992 4,966,115 -2.0% 2,134,180 2,803,305
Montana 95,730 140,457 156,888 63.9% 11.7% 273,793 126,376 -53.8% 178,063 (30,512)
New Jersey 566,201 231,465 443,724 -21.6% 91.7% 1,141,199 877,496 -23.1% 574,998 433,772
New Mexico 110,939 92,930 104,627 -5.7% 12.6% Caucus 216,075 N/A N/A 111,448
South Dakota 60,964 58,292 66,879 9.7% 14.7% 97,797 53,006 -45.8% 36,833 (13,873)
Total Votes* 4,256,770 2,921,471 3,541,295 -16.8% 21.2% -12.2% 3,212,097 3,425,350
EW % Change 11.9% 34.0% -29.6%
*Total Votes are only summed for states that held primaries in 2008, 2012 & 2016
**Democrat Advantage is summed only for states that have had both a Republican and Democrat primary in 2016
While caucus numbers are influenced by a number of factors other than voter turnout and electorate preferences, their
implications are little different from those of the primary states.
Again these results have to be concerning for Presidential candidate Hillary Clinton.
Table 3
Caucuses and Mixed Caucuses/Primaries Completed as of May 3 rd
Republican Caucus Turn Out % Increase
2016 from
% Increase
2016 from
Democrat Caucus Turn Out
2008 2012 2016
2008 2012
2008 2016
% Increase
2016 from
2008
Democrat
Advantage
2008**
2016**
Democrat
Advantage
Alaska 15,000 14,135 21,930 46.2% 55.1% 8,621 10,600 23.0% (6,379) (11,330)
Colorado 65,400 66,027 N/A N/A N/A 120,001 123,508 2.9% 54,601 N/A
Hawaii N/A 10,228 13,377 N/A 30.8% 37,426 33,716 -9.9% N/A 20,339
Idaho Primary 44,672 Primary N/A N/A 21,224 23,884 12.5% N/A N/A
Iowa 118,696 121,354 186,874 57.4% 54.0% 236,000 171,109 -27.5% 117,304 (15,765)
Kansas 19,432 29,857 73,116 276.3% 144.9% 37,089 40,000 7.8% 17,657 (33,116)
Kentucky 205,226 176,160 229,667 11.9% 30.4% N/A N/A N/A N/A N/A
Maine 5,338 5,814 18,650 249.4% 220.8% 44,670 46,000 3.0% 39,332 27,350
Minnesota 62,828 48,916 114,245 81.8% 133.6% 214,066 207,109 -3.2% 151,238 92,864
Nebraska N/A N/A N/A N/A N/A 38,670 33,460 -13.5% N/A N/A
Nevada 44,315 32,894 75,216 69.7% 128.7% 117,559 84,000 -28.5% 73,244 8,784
Utah Primary Primary 177,204 N/A N/A Primary 77,344 N/A N/A (99,860)
Wyoming 1,200 1,308 N/A N/A N/A 8,753 7,000 -20.0% 7,553 N/A
Total Votes* 470,835 429,130 719,698 52.9% 67.7% 884,079 780,386 -11.7% 454,550 (10,734)
EW % Change 113.3% 99.8% -4.9%
*Total Votes are summed only for states that held caucuses in 2008, 2012 and 2016
**Democrat Advantage is only summed for states that have had both a Republican and Democrat caucus in 2016
2016**
9
'99-'01
'01-'03
'03-'05
'05-'07
'07-'09
'09-'11
'11-'13
'13-'15
'15-'17
'99-'01
'01-'03
'03-'05
'05-'07
'07-'09
'09-'11
'11-'13
'13-'15
'15-'17
Laffer Associates Game On [Updated 7/6/2016]
Table 4
Caucuses Following May 3 rd
Republican Caucus Turn Out
Democrat Caucus Turn Out
2008 2012 2016 2008 2016
Washington Primary 50,764 Primary Primary 230,000
New Mexico N/A N/A N/A 153,299 214,307
North Dakota 9,785 11,349 N/A 19,102 N/A
V. Politics Bubbles Up from the Bottom and Presidential Selection is the Final Coup de Grace of a Political Revolution
The proposition of this section of this paper is that elections for the U.S. House of Representatives, the U.S. Senate, state
houses, state senates and governorships are accurate indicators of Presidential races. If these federal and state elections are
accurate forecasters in 2016, Hillary Clinton is toast.
a.) Politics in the U.S. Congress
In January 2009, there were 57 Democrats in the U.S. Senate, 2 Independents (Sanders VT and King ME) who always voted
with and caucused with the Democrats, and 41 Republicans. Today, there are 54 Republicans, 44 Democrats plus the same
2 Independents who are effectively Democrats (see Table 5 below).
Likewise, in January 2009, there were 257 Democrats in the U.S. House and 178 Republicans. Today, the tables have turned
and the Republicans have their largest majority in the House since 1928, 247, and the Democrats have 188 House members.
Not only have the numbers changed dramatically, but the ideologies have also become more concentrated. The changes in
the U.S. Congress over the past eight years are huge and reflect an enormous swing in U.S. political sentiments. But the
groundswell doesn’t stop there.
U.S. Senate Count
Table 5
U.S. House Count
Democrat Republican Other Democrat Republican Other
1999-2001 45 55 0 211 223 1
2001-2003 50 50 0 213 220 2
2003-2005 48 51 1 205 229 1
2005-2007 44 55 1 201 233 1
2007-2009 49 49 2 233 202 0
2009-2011 57 41 2 257 178 0
2011-2013 51 47 2 193 242 0
2013-2015 53 45 2 201 234 0
2015-2017 44 54 2 188 247 0
Source: 2009-2016 NCSL *numbers for State data are of January for each year
Source: Data prior to 2009 census.gov *numbers for state data are of March of each year
60
58
56
54
52
50
48
46
44
Figure 5
U.S. Senate Count
(two-year cycles, 1999-2017)
Republican
Democrat
60
58
56
54
52
50
48
46
44
260
250
240
230
220
210
200
190
Figure 6
U.S. House Count
(two-year cycles, 1999-2017)
Republican
Democrat
260
250
240
230
220
210
200
190
42
42
180
180
40
40
170
170
Source: Senate.gov
10
Source: House.gov
Laffer Associates Game On [Updated 7/6/2016]
b.) Politics in the States
In the state legislatures, the changes in the Democrat/Republican split have been equally as radical as they are in the U.S.
Congress. Counting all senate members of the various state legislatures in 2009, there were 1,024 Democrats, 889
Republicans and 58 categorized as “other.” (See Table 6 below). But today, the Democrats have only 827 State Senators,
the Republicans 1,088, with 57 categorized as other—this is the very definition of a 180 degree turn around.
In the state houses of representatives in 2009, Democrats had 3,058 members to the Republicans’ tally of 2,334 with 19
“others.” And yet, today, the Republicans control the vast majority of state houses with a grand total of 3,037 house members
to the Democrats’ 2,342 members and 32 “others.” This switch in state legislatures all but assures the Republican control of
redistricting and control of the U.S. House for years to come.
As a final sort of “egg in your beer,” the Democrats had 28 governors to the Republicans’ 22 in 2009. Today there are 31
Republican governors, 18 Democrats and one “other” Bill Walker (I) in Alaska. With solid control of both houses and the
governorships of so many states, a united Republican Party could do almost anything it wants to do if it has the will to do it,
and, at the state level, the party is following through.
11
Laffer Associates Game On [Updated 7/6/2016]
Table 6
Membership of State Houses, Senates and Governorships by Party
(biannual: 1976-1998, annual: 2000-2016)
State Senate Count State House Count Governor Count
Democrat Republican Other Democrat Republican Other Democrat Republican Ind.
1976 1306 618 8 3772 1783 26 36 13 1
1977 37 12 1
1978 1260 669 3 3454 2027 20 37 12 1
1979 32 18 0
1980 1182 742 8 3289 2190 22 31 19 0
1981 27 23 0
1982 1210 725 2 3429 2006 17 27 23 0
1983 34 16 0
1984 1187 753 6 3136 2316 14 35 15 0
1985 34 16 0
1986 1177 762 7 3294 2164 9 34 16 0
1987 26 24 0
1988 1192 751 3 3277 2176 13 27 23 0
1989 28 22 0
1990 1186 757 3 3242 2202 23 29 21 0
1991 29 19 2
1992 1132 799 4 3186 2223 31 28 20 2
1993 30 18 2
1994 1021 905 3 2817 2603 31 29 19 2
1995 19 30 1
1996 998 931 9 2886 2539 31 18 31 1
1997 17 32 1
1998 1041 963 3 2903 2580 0 17 32 1
1999 17 31 2
2000 995 931 11 2818 2600 21 17 31 2
2001 990 932 13 2809 2604 14 21 27 2
2002 939 974 58 2694 2687 30 21 27 2
2003 941 977 4 2700 2693 18 24 26 0
2004 950 967 53 2686 2689 21 22 28 0
2005 951 963 8 2704 2683 24 22 28 0
2006 952 964 6 2702 2675 34 22 28 0
2007 1010 909 3 2971 2422 18 28 22 0
2008 1020 898 4 2985 2403 24 28 22 0
2009 1021 890 11 3041 2346 24 28 22 0
2010 1026 893 3 3028 2356 27 26 24 0
2011 881 1032 9 2453 2924 36 20 29 1
2012 873 1040 57 2441 2939 31 20 29 1
2013 889 1022 61 2592 2791 28 19 30 1
2014 876 1034 62 2572 2802 37 21 29 0
2015 821 1087 64 2342 3024 45 18 31 1
2016 827 1088 57 2342 3037 32 18 31 1
Source: 2016-2016: NCSL, numbers are as of January for each year; 1976-2012: Census Bureau, numbers are as of March for each year
12
1976
1979
1982
1985
1988
1991
1994
1997
2000
2003
2006
2009
2012
2015
Governors
State Senate
State House
Laffer Associates Game On [Updated 7/6/2016]
To put substance into the predictive power of state and local election results for presidential elections, I have graphically
aligned state house results for all states with state senate results for all states and gubernatorial results for all states by year.
3800
3500
Carter
Figure 7
State House, Senate, and Governorships
(1976-1998: biannual, 2000-2016: annual)
Reagan I
Reagan II
H.W. Bush
Clinton I
Clinton II
Bush I
Bush II
Obama I
Obama II
3800
3500
3200
3200
2900
2900
2600
2600
2300
2300
2000
Democrat
Republican
2000
1700
1400
1700
1400
1300
1300
1200
1200
1100
1100
1000
1000
900
900
800
700
Democrat
Republican
800
700
600
50
600
50
45
45
40
40
35
35
30
30
25
25
20
20
15
15
10
5
Republican
Democrat
10
5
0
0
Source: U.S. Census Bureau, NCSL
While by no means perfect, there is clearly a close correlation between a party’s success in state and local elections, and that
party’s success in the upcoming presidential election. If that close correlation holds in November of 2016, there will be a
Republican landslide.
13
Laffer Associates Game On [Updated 7/6/2016]
In fact the entire political terrain of the U.S. has shifted 180 degrees in the past 8 years with one exception—the White House.
A betting person with any lick of sense would be loath to bet against a Republican presidency and a radical reversal of
economic policies.
VI. Issues and Political History
Another factor favoring Donald Trump over Hillary Clinton has to do with longevity and negative selection. The political
process, more than any system I’ve ever worked with, thrives on pointing out mistakes and overlooking successes. My advice
to many candidates has been to speak as little as possible and to describe policies in as general a manner as you can get
away with. People aren’t looking through your transcripts to find the next wonderful and positive thing you’ve done, but instead
they try to find your missteps, transgressions, faux pas and failures. Politics is a totally negative process. You live or die by
the sum total of what you’ve done wrong, not on the balance between what you’ve done right and what you’ve done wrong.
In the words of Shakespeare, “the good is oft interred with their bones.” 6
Trump has had very limited exposure as a practicing politician and, therefore, has only his own words and phrases to criticize.
While he may have a number of missteps in business or in his personal life, no one cares. And yet, he truly enjoys celebrity
status as no one in politics today does. Also, given how much Trump has said about any number of issues over the past couple
of years, there are probably quotes that can be used on any side of most any issue. But with Hillary, it’s different.
Hillary has done a lot. She’s been involved in politics at a visible level since the Watergate hearings and maybe even earlier.
Her past contains numerous misdeeds and failures as much because she’s done so much and perhaps not so much because
she has been a failure. Yet, a diligent, hard-driving researcher can find a laundry list of her significant misdeeds.
To wit,
� As events have unfolded, her vote in favor of the Iraq War is a clear sign of poor political judgment, especially in her party.
� Her behavior surrounding the attack on the consulate in Benghazi and the failure to respond to four American deaths sure
looks like a case of poor judgment.
� Her use of a private e-mail server while Secretary of State and thus the potential exposure of critical U.S. intelligence to
those who would do us harm again smacks of poor judgement.
� The Clinton Foundation along with its big gifts and extraordinarily large speaking fees surely creates an aura of impropriety,
favoritism and the absence of sound judgement.
� Her involvement in the cover-up of Fast and Furious is transparent bad judgment.
� Her disregard for coal miners and coal companies in her reckless quest to be seen as a defender of the environment is yet
another case of dangerous judgement.
� The IRS scandal: While not directly implicated as a participant in an administration cover-up of the Cincinnati IRS office
headed by Lois Lerner’s misuse of government power, there are definite indications of her gross negligence in the pursuit
of even-handed fairness of the power to tax.
� As I have predicted, 7 Obamacare has not only driven considerable premium increases for coverage since 2013, when the
marketplace first opened for enrollment, but has also added significant cost burdens onto health insurance companies,
many of whom are choosing to leave the Obamacare marketplace as costs continue to outpace profits. This has led to
entire states, such as Alaska and Alabama, being left with only one insurer on their respective Obamacare marketplaces,
with 650 counties total being left with just one insurer in 2017. 8
� Her personal investments in cattle futures. 9 In the late 1970s, she turned an initial investment of $1,000 into $100,000 in
just 10 months, despite having no previous investment experience. Her close friend, James Blair, an experienced
commodities trader, advised her to enter the commodities market, but Clinton claimed to have made her own investment
decisions. One academic study published in The Journal of Economics and Finance estimated the likelihood of achieving
a result such as Clinton’s as 1 in 31 trillion. 10
6
William Shakespeare, The Tragedy of Julius Caesar, Act III, Scene 2, Line 1620.
7
Arthur B. Laffer and Emily Evans, “Rising Health Care Costs and Premiums: Is the ACA to Blame?” Laffer Associates, July 30, 2015.
8
Anna Wilde Mathews, “Insurance Options Dwindle in Some Rural Regions,” The Wall Street Journal, May 15, 2016. http://on.wsj.com/1sqcTGq
9
Caroline Baum and Victor Niederhoffer, ""Herd Instincts: Hillary's Investment Profits,"" National Review. February 20, 1995. pp. 43–44.
10
Seth C. Anderson and John D. Jackson, and Jeffrey W. Steagall, “A note on odds in the cattle futures,” The Journal of Economics and Finance.
©2016 Laffer Associates. All rights reserved.
No portion of this report may be reproduced in any form without prior consent. The information has been compiled from sources we believe to be reliable, but
we do not hold ourselves responsible for its correctness. Opinions are presented without guarantee.
14
"
IMAGES-008-HOUSE_OVERSIGHT_025975.txt,"What | do not like that it came out more as a Trump gold that an old gold.

B

From: jeevacation@gmail.com
Date: Sun, 10 Jul 2016 21:06:27 -0400

Subject: Re:

and maybe have the large colums black instead of gold, as the gold paint is not as good as the
gold metal objects.

On Sun, Jul 10, 2016 at 9:03 PM, Boris Nikolic i,- wrote:

Great! Happy to hear it.
Trust your advice and taste - this is why | am asking!

B

From: jeevacation@gmail.com
Date: Sun, 10 Jul 2016 21:01:22 -0400

Subject: Re:

i think it was terrific , the only thing i would think about is having only one lit sculpture ata
time . put onein storage or covered , but you want to call attention to one at atime.

On Sun, Jul 10, 2016 at 8:43 PM, Boris Nikolic iit: wrote:

Thank you!

Did you really like it?
How did you like furniture?
What would you change it?

From: jeevacation@gmail.com
Date: Sun, 10 Jul 2016 20:42:23 -0400

Subject:

1

HOUSE_OVERSIGHT_025975
"
IMAGES-004-HOUSE_OVERSIGHT_016824.txt,"powerful room-cleaning robot was a Roomba, which moved around vacuuming at
random and squeaked when it got caught under the couch.

Technological prediction is particularly chancy, given that technologies progress
by a series of refinements, halted by obstacles and overcome by innovation. Many
obstacles and some innovations can be anticipated, but more cannot. In my own work
with experimentalists on building quantum computers, I typically find that some of the
technological steps I expect to be easy turn out to be impossible, whereas some of the
tasks I imagine to be impossible turn out to be easy. You don’t know until you try.

In the 1950s, partly inspired by conversations with Wiener, John von Neumann
introduced the notion of the “technological singularity.” Technologies tend to improve
exponentially, doubling in power or sensitivity over some interval of time. (For
example, since 1950, computer technologies have been doubling in power roughly
every two years, an observation enshrined as Moore’s Law.) Von Neumann
extrapolated from the observed exponential rate of technological improvement to
predict that “technological progress will become incomprehensively rapid and
complicated,” outstripping human capabilities in the not too distant future. Indeed, if
one extrapolates the growth of raw computing power—expressed in terms of bits and
bit flips—into the future at its current rate, computers should match human brains
sometime in the next two to four decades (depending on how one estimates the
information-processing power of human brains).

The failure of the initial overly optimistic predictions of AI dampened talk about
the technological singularity for a few decades, but since the 2005 publication of Ray
Kurzweil’s The Singularity is Near, the idea of technological advance leading to
superintelligence is back in force. Some believers, Kurzweil included, regard this
singularity as an opportunity: Humans can merge their brains with the
superintelligence and thereby live forever. Others, such as Stephen Hawking and Elon
Musk, worried that this superintelligence would prove to be malign and regarded it as
the greatest existing threat to human civilization. Still others, including some of the
contributors to the present volume, think such talk is overblown.

Wiener’s life work and his failure to predict its consequences are intimately
bound up in the idea of an impending technological singularity. His work on
neuroscience and his initial support of McCulloch and Pitts adumbrated the startlingly
effective deep-learning methods of the present day. Over the past decade, and
particularly in the last five years, such deep-learning techniques have finally exhibited
what Wiener liked to call Gestalt—for example, the ability to recognize that a circle is
a circle even if when slanted sideways it looks like an ellipse. His work on control,
combined with his work on neuromuscular feedback, was significant for the
development of robotics and is the inspiration for neural-based human/machine
interfaces. His lapses in technological prediction, however, suggest that we should
take the notion of a technological singularity with a grain of salt. The general
difficulties of technological prediction and the problems specific to the development of
a superintelligence should warn us against overestimating both the power and the
efficacy of information processing.

The Arguments for Singularity Skepticism
No exponential increase lasts forever. An atomic explosion grows exponentially, but

21

HOUSE_OVERSIGHT_016824
"
IMAGES-012-HOUSE_OVERSIGHT_033284.txt,"From: Richard Kahn [rs
Sent: 2/10/2016 11:04:38 PM
To: jeffrey E. [jeevacation@gmail.com]

Importance: — High

looks like donald and mort are not to friendly..

http://www.marketwatch.com/story/ny-daily-news-calls-voters-mindless-zombies-after-donald-trump-wins-

new-hampshire-2016-02-10/print

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue 4th Floor
New York, NY 10022

HOUSE_OVERSIGHT_033284
"
IMAGES-007-HOUSE_OVERSIGHT_022939.txt,"The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to , and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of CLL
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to [I and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_022939
"
IMAGES-007-HOUSE_OVERSIGHT_024390.txt,"transfer of responsibility for our Islamic Enemy’s hate and resultant actions onto us with our response framed
essentially as an effort to do what we can to try to address the Enemy’s grievance. (Your book, United in Hate,
describes this addiction to hate in detail.

The key to the Inner Jihad is to learn to transfer responsibility for our Islamic Enemy’s hate and resultant
actions back to it and take responsibility back for our own situation. We must learn all we can about the enemy.
We must unwind our inappropriate projections and introjections and rediscover who we are and are not. We
must speak up. We must support those Muslims who promote expressions of Islam that are consistent with our
principles. And we must stalk the C ontrol Factor, constantly be on guard for its intrusion. This is an individual
endeavor as each of our Control Factors uses its own methods. The book gives plenty of examples of each
maneuver discussed but it is important for each of us to discover the unique workings of his own mind. That
takes the work of the Inner Jihad.

FP: Share with our readers what you mean by the “Turnaround Moment.”

Siegel: There is a moment in typical horror films where the central characters have been pushed to their limit.
They then change and fully embrace the willingness to be as ruthless as the threat they face. No more moral
high ground; no more futile attempts to ignore or change the threat’s essence. As Lee Harris described in The
Suicide of Reason, it is the willingness o r license to be (not necessarily actually being) as ruthless that is
critical. It is a mental state that sheds all the prior counter-productive efforts at denial to finally clearly focus on
the threat faced. Part of the Inner Jihad is to reach that Turnaround Moment sooner rather than later.

FP: You suggest that “mirroring” should be used as part of our arsenal. Tell us about it.

Siegel: Mirroring is a literal approach to transferring back to the addict responsibility that we have been
inappropriately accepting. Critical to the addict/enabler relationship is asymmetry. Like the addict, the enemy
uses a less limiting set of rules than we do. The enemy typically initiates aggression while we respond only.
Mirroring means that we demonstrate our willingness to act symmetrically, to be governed by the same rules. It
is stunning how much is accomplished when one’s attitude simply is clear that he will do what is necessary;
often not much else is needed as the addict or enemy realizes the game is fundamentally changed. But other
times action is absolutely needed. Demonstrating that we are not afraid to treat the enemy as it treats us carries
great meaning. Imagine (international law aside) if Israel announced that from now on it will mirror Hamas
such that if civilian populations are targeted by bombs from Gaza, Israel will do the same (it is accused of such
anyway). The population might finally rethink and take responsibility for its privilege of voting its leaders. As
stated earlier, all behavior is instructive and when we mirror we teach the other the effects of his behavior.

Conversely, some situations demand that we assert asymmetry; those cases where it is necessary to highlight
our differences with the enemy. Just this week, an disingenuous report was issued by an NGO drawing an
equivalence between Palestinian and Israe li schoolbooks claiming that both sides have their relativistic “ «
narratives.” Yet, as the Palestinian Media Watch’s website has demonstrated for years, there is nothing in the
West anywhere comparable to the hatred spewed daily by the Palestinian Authority, including through its
education system. It is interesting to note that while the US State Department initially funded the “study,”- in
what appears to be an attempt to sanitize the PA’s record so that the US can continue to fund the PA against the
spirit of US law- Hillary Clinton has a difficult time escaping her conclusion as Senator in 2007 that these
schoolbooks along with other media “profoundly poison(s) the minds of these children.” It is most important
that we do not succumb to this type of use of symmetry that distorts the profound differences between us and
the enemy.

Essentially, we are not clear as a nation, participating in a world with international rules, how to bes t fight this
enemy. The first act of any rehab is to acknowledge that we do not know how nor are we yet competent to

stop our addictions. This is not a book about policy. In fact, the “right” policies are unlikely to emerge until a
critical mass has meaningfully dealt with their Control Factors and share a common perspective. We like to look
at our history and assume a single perspective throughout but the truth is that we had to learn how to respond to
Pearl Harbor, the Nazis, the Cold War etc. The same applies here. Our press promotes “elites” who are tasked
with acting as if they possess the “true wisdom” to deal with our threats but the truth is we do not know nor are

HOUSE_OVERSIGHT_024390
"
IMAGES-006-HOUSE_OVERSIGHT_021879.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

56

Q. Let me ask this way: We have talked somewhat
about the basis for this allegation about other minors.
Putting aside information as to what you're claiming
privilege, tell me what you knew as of December 30th,
2014, that formed the factual basis for your -- for that
allegation about other minors?

MR. SCAROLA: And I'11 instruct you not to
answer that question for the same reason that
when the same question was asked earlier, I
instructed you not to answer.

MR. SIMPSON: I'm -- maybe we are not being
clear, Jack. I'm asking him to put aside -- I
mean, certainly, he filed a pleading. You've
asserted privilege as to certain aspects. I'm
simply asking him, putting aside whatever you're
Claiming privilege for, right, so I'm not asking
you right now to tell me anything you're claiming
as privilege.

BY MR. SIMPSON:

Q. Tell me whatever is not privileged that
supports that allegation.

A. Okay. The privileged information obviously
you're asking me not to reveal at this point.

Q. I'm asking you to tell me the nonprivileged

information -- and I'm not agreeing with your privilege

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021879

"
IMAGES-010-HOUSE_OVERSIGHT_028733.txt,"peace deal are clear enough, too. But in both cases, neither side trusts the
other, and each demands that the other go first. Instead, nobody goes
anywhere.

U.S. officials have very good reason to be wary of Iran's bona fides. In
2009, they reached a deal with Iranian negotiators to send the stockpile of
highly enriched uranium out of the country -- only to see the ayatollah
repudiate it. As Ray Takeyh, an Iran expert with the Council on Foreign
Relations puts it, ""Khamenei has created a politics where it's hard for him
to compromise."" But so has the United States. Anyone who watched
Chuck Hagel's confirmation hearing knows that it is an article of faith in
Congress -- and pretty much a bipartisan one -- that Iran is a faithless,
illegitimate terrorist state that will be deterred from building a bomb only
by the threat of massive attack. Had Hagel been foolish enough to suggest
that the United States offer to reduce sanctions in exchange for Iranian
concessions, the White House would have had to find a new candidate for
defense secretary.

It's the U.S. Congress that arguably holds the high cards, though the White
House put them in its hands. The most potent sanctions are legislated, and
have been written in such a way that they will be very hard to unwind.
Obama can waive them for up to six months. But the ayatollah is not about
to make irreversible decisions in exchange for six months of relief.

The White House is thus stuck between Tehran and Capitol Hill. And it
can't live long with the current stalemate. After all, Obama has said that
""containment"" is not an option. He is hoping that the combination of
economic pain and fear of military action will bring Tehran to its senses. If
it doesn't, the president has said that he is prepared to use force. Perhaps

he feels that just as spurned engagement served as the predicate for tough
sanctions, so would failed negotiations lay the predicate for a broadly
supported strike against Iran's nuclear facilities. Iran left us no choice, he
might say, as the bombers fly.

That would constitute a diplomatic triumph ... if a strike against Iran's
nuclear facilities is a good idea. If in fact it's a dreadful prospect -- worse,
perhaps, even than containment -- then it would constitute a failure that

HOUSE_OVERSIGHT_028733
"
IMAGES-001-HOUSE_OVERSIGHT_011564.txt,"Places like Bet El, Shiloh, or Hebron. They represented the historic wellspring
not just of the state we’d created, but of Jewish civilization, our heritage, our
moral and ethical foundation. As I drove back to Tel Aviv with Avraham and
the others on the morning of fourth day of the war, we heard Israeli ground
forces were consolidating their hold there as well.

After dropping Avraham at the kirya, we drove back to the sayeret base, but
it was nearly empty. The main fighting was now with Syrian armored units on
the Golan Heights, and most of the men in the unit had gone north in the hope
of joining what seemed likely to be the final stage of the war. Although the
precise outcome was not yet clear, there was a dawning certainty, almost
surreal, that

Israel was gaining control of all the areas across our 1948 borders from
which the Arab states around us had shelled Israeli farming settlements, or
facilitated fedayeen attacks and ambushes against our citizens — the very border
areas where I’d led intelligence operations in Sayeret Matkal.

I, too, drove north. Not far from Kibbutz Dan, the staging point for our first
Golan operation, I linked up witha group of other sayeret reservists. Israeli
tanks had already broken the main resistance of the Syrians, but fighting was
continuing in a few parts of the Golan. In the western corner of the Heights
which bordered Lebanon, several villages still lay beyond the Israeli advance.
We got an order to see if we could take them. It took barely an hour, against no
more resistance than I’d met in “capturing” the Egyptians in the Sinai bunker.
By the time we had made our way back across the Golan to the now-abandoned
Syrian headquarters in Quneitra, it was sunset. The war was drawing to a close.

I gave my Jeep to a couple of paratroopers and hot-wired a more comfortable
mode of transport back home: a big, black Mercedes which had obviously
belonged to a senior Syrian officer. If only because of the license plates, I
avoided the main road back into Israel. I found a dirt track running between
Syrian positions on the southern edge of the Golan and descended toward the
fruit groves of Kibbutz Ha’on, near the Sea of Galilee. I then headed for
Givataim in north Tel Aviv, to a place I knew well. It was the home of
Menachem Digli. He had been Avraham Arnan’s deputy in the sayeret when I
left for my stint in officers’ school. Before I returned to the unit, he had a
motorcycle accident, badly damaging his leg. He’d been temporarily reassigned
to a post in intelligence. I figured a Syrian Mercedes would make a nice gift.
Not wanting to wake him, I left it in front of his house. Sadly, he never got to
use it. The next day a couple of military policemen knocked on his door and

93
HOUSE_OVERSIGHT_011564
"
IMAGES-005-HOUSE_OVERSIGHT_019186.txt,"JAMES PATTERSON

t—a “verbal disagreement” —with Dobbs. They driv
. e ove:

and this had led to a figh
Epstein. the kitchen — maybe sc
She'd left without getting paid. Gone down to the kitchen they're: walked’ upstai
3 star
towel. Sometimes with

j mend their friends, anc

and told Wendy, “Let's go!”
» Wendy had told her, “tell him to j
7

“If youre uncomfortable,
None of the girls cc

stop, and he will”
The more you 7 been trained as a massi

On the other hand, Wendy had also told her, |
| become a licensed mas:

do, the more you get paid.”
A few weeks later, she agreed to return to the house on El a E eighteen years old, at
or GED.

Brillo.
Once again Sarah had taken Jenny upstairs and into the mas-
able, laid out the oils

ter bedroom. Sarah had set up the massage t

that Jenny would use.

Then Epstein had entered the room wearing only a towel.

Jenny had been wearing tight jeans. She had a tight belt on.
She kept the jeans on, though Epstein still made a grab for her
buttocks. Then he rolled onto his back and grabbed for her
breasts. Jenny became upset yet again. But this time, she was
paid two hundred dollars before leaving. She never did go back
to the house. But, like Francine, she has one more thing to tell

the detectives.

Another girl from her
d visit with Epstein. Kristina. And lat

“a problem” with Epstein.
g up all the time. And the detec

high school had been there on the day
of her secon er, Kristina
told Jenny that she also had

Girls seemed to be turnin

tives were just getting started.

Reiter’s team to another. And every time; |

One girl leads Chief
rls are approached by Wendy

they hear the same story. The gi

70

HOUSE_OVERSIGHT_019186
"
IMAGES-011-HOUSE_OVERSIGHT_032322.txt,"Case 1:16-cv-07673-RA Document5 Filed 10/04/16 Page 2 of 2

S. A brief description of prior settlement discussions (without disclosing the
parties’ offers or settlement positions) and the prospect of settlement;

6. The estimated length of trial; and

7. Any other information that the parties believe may assist the Court in
advancing the case to settlement or trial, including, but not limited to, a
description of any dispositive issue or novel issue raised by the case.

IT IS FURTHER ORDERED that, by December 9, 2016, the parties jointly submit to the
Court a proposed case management plan and scheduling order. A template for the order is
available at http://nysd.uscourts.gov/judge/Abrams. The status letter and the proposed case
management plan should be filed electronically on ECF, consistent with Section 13.1 of the
Court’s Electronic Case Filing (ECF) Rules & Instructions, available at
http://www.nysd.uscourts.gov/ecf/ecf_ rules _080113.pdf.

Plaintiff is ordered to serve Defendants with a copy of this order and to file an affidavit
on ECF certifying that such service has been effectuated.
SO ORDERED.

Dated: October 4, 2016
New York, New York

Yonnie Abrams
United States District Judge

HOUSE_OVERSIGHT_032322
"
TEXT-002-HOUSE_OVERSIGHT_032552.txt,"From: Kathy Ruemmler 
Sent: 7/21/2017 12:03:20 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
Importance: High 
Trump is truly stupid. 
HOUSE OVERSIGHT 032552 
"
IMAGES-011-HOUSE_OVERSIGHT_032444.txt,"From: Robert a 0Otti(‘Cé‘s*”

Sent: 1/22/2017 9:49:16 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Kuhn

Importance: — High
I’m flexible after Tuesday. (Doing CNBC on Trump-China Tues morning)

I forgot to congratulate you on winning your loooooong-odds bet on Trump with Woody. Everyone I know,
including me, would have bet against you. Quite extraordinary.

On Jan 22, 2017, at 4:32 PM, jeffrey E. <jeevacation@gmail.com> wrote:

look forward to it

On Sun, Jan 22, 2017 at 2:33 PM, Robert Kuhn RR wrote:
Just got to New York - love to meet, brainstorm.

From Washington, my inauguration-day commentary and conversation with Chinese experts on Sino-US
relations under Trump - https://youtu.be/OGdul pmeVNM?list=PLt-M801W_GdSZbSuplmsSS5JZzlhIWpGb

Earlier interview on BBC “What Chinese think of Trump” - two minute excerpt
- http://www.bbc.co.uk/programmes/p04m9jj4

Looking forward, Robert

On Jan 11, 2017, at 2:51 AM, Robert L. Kuhn ee:

Dear Jeffrey:

Attached, as promised, is our proposal for Closer To Truth to produce the definitive television series on “The
Science of Sleep and Dreams” - 13 episodes, a full season, on ~200 PBS stations, plus extensive web videos.
Contemporary advances in sleep/dream research makes timing propitious.

Three documents:

1) Proposal (12 pages)

2) Budget (line item)

3) Schedule (weekly)

Please confirm receipt.

I'll be in New York from January 19 until about February 8. Love to meet - on Sleep/Dreams and all sorts of
fun stuff to cheer our 2017.

HOUSE_OVERSIGHT_032444
"
IMAGES-005-HOUSE_OVERSIGHT_020061.txt,"18

BANNON REDUX

annon was back, according to the Bannon faction. According to Bannon himself:
B “Pm good. I’m good. I’m back. I said don’t do it. You don’t fire the director of the
FBI. The geniuses around here thought otherwise.”

Was Bannon back? asked the worried other side of the house—Jared and Ivanka, Dina
Powell, Gary Cohn, Hope Hicks, H. R. McMaster.

If he was back, that meant he had successfully defied the organizational premise of the
Trump White House: the family would always prevail. Steve Bannon had, even in his
internal exile, not stopped his running public verbal assault on Jared and Ivanka. Off the
record became Bannon’s effective on the record. These were bitter, sometimes hilarious,
denunciations of the couple’s acumen, intelligence, and motives: “They think they’re
defending him, but they are always defending themselves.”

Now he declared they were finished as a power center—destroyed. And if not, they
would destroy the president with their terrible and self-serving advice. Even worse than
Jared was Ivanka. “She was a nonevent on the campaign. She became a White House
staffer and that’s when people suddenly realized she’s dumb as a brick. A little marketing
savvy and has a look, but as far as understanding actually how the world works and what
politics is and what it means—nothing. Once you expose that, you lose such credibility.
Jared just kind of flits in and does the Arab stuff.”

The folks on the Jarvanka side seemed more and more genuinely afraid of what might
happen if they crossed the Bannon side. Because the Bannonites, they truly seemed to
fear, were assassins.

On the flight to Riyadh, Dina Powell approached Bannon about a leak involving her to
a right-wing news site. She told him she knew the leak had come from Julia Hahn, one of
Bannon’s people and a former Breitbart writer.

“You should take it up with her,” said an amused Bannon. “But she’s a beast. And she
will come at you. Let me know how it works out.”

HOUSE_OVERSIGHT_020061
"
IMAGES-001-HOUSE_OVERSIGHT_011202.txt,"D»NCDY%D NtN— Nf D2NeN-N... 382 DED Du
D?D D+D%NENED.N...... https://t.co/gUmXddGp4l D?,
DEDONE
p°N—
DAD’)
ma_am_42_ | RT @ndaktuell: #GroAYbritannien entscheidet: 23 Jun 2016, | Weltme 4 | negative
21 A»RemainA« oder A»LeaveA«? Referendum Aber 07:30 - CEST | tropold
4e°den Verbleib in der EU lAnuft orf
https://t.co/fuKKKE5i00O #Ba€ | Wien.
ETMarkets F&O data shows #Brexit or no Brexit, #Nifty may not 23 Jun 2016, O | neutral
slip below 8,000 https://t.co/uxX5U1Daklil By 07:30 - CEST
@kshanand hittps://t.co/cL9wP3SSJ4
reneverkroo | RT @geertwilderspwv: Britain, today you can make 23 Jun 2016, 71 | positive
st history! 07:30 - CEST
Independence Day.
#Brexit https://t.co/cCecLxTDWO
Izzer RT @thehill: Trump on Brexit: ""| dona€™t think 23 Jun 2016, 5280 18 | positive
anybody should listen to me"" 07:30 - CEST
https://t.co/eLE9Fh2CHQ https://t.co/OwvnX2W3Ri
mbellido RT @LoyolaEcon: AnAilisis del Prof. @macarflo en La 23 Jun 2016, | EspaAta 4 | neutral
Semana EconA?mica: el Brexit. 07:30 - CEST
https://t.co/O0lI7Y2zGoqP
fxnewsfeedc | Euro to Look Past PMI Data with ""Brexit"" Worries at 23 Jun 2016, 0 | positive
om the Forefront https://t.co/z8L41rploJ 07:30 - CEST
hanshafner | Yes! | can't wait to not have to listen to your twisted 23 Jun 2016, | Berlin, 0 | positive
rants in the European Parliament. Please leave!! 07:30 - CEST | German
#Brexit https://t.co/Dc4jXOTRTM y
m_barisione | RT @FrankVollmer: #Brexit: Titelseiten britischer 23 Jun 2016, | milano 1 | negative
Zeitungen am heutigen Referendumstag. V.a. 07:30-CEST | &
BoulevardblAxtter werben fA%r EUAustritt. httpsa€ | genova,
italy
tsangarisp Remain or Leave? Today is the day #uk #brexit 23 Jun 2016, | CYPRUS 0 | negative
#england #eu #EUreferendum https://t.co/jzFrdkOzBP | 07:30-CEST | Nicosia
Dr_Esterichi | @ForreMarti @ElTegid alguien puede explicarme 23 Jun 2016, | marsella 0 | negative
a quA© pasa? Aqui solo hablan de futbol y brexit. 07:30 - CEST
Debajo de los pirineos no hay nada. Gracias!
Sophiesweb | RT @MizzVileAnimalO: @sandralaegel @AliasStAlias 23 Jun 2016, 1 | negative
33 @Sophiesweb33 @MaryamNamazie @Capeheritjamie | 07:30 - CEST
#isisAREMuslims #Brexit #VoteLeave #Remain hta€ |
DagmarLied | ""Rasismen som jag mA{[tte skrAumde mig"" 23 Jun 2016, | GA{|teb 0 | negative
er @hzhelena:s krA{nika via @svtnyheter 07:30-CEST | org
https://t.co/Yeq8a9HAnw #Brexit
mlb10384 https://t.co/WQT5ofxL17 #CitizenRadio (2016/06/23) | 23 Jun 2016, | DE 0 | negative
Choose Your Own Adventure, NYPD treating minor 07:30 - CEST
infractions like crimes of the century, a€ |
Pennywisel | #PiosenkanadziA> 23 Jun 2016, | Warsza 0; NA
957 https://t.co/YZubcdg7sX 07:30-CEST | wa,
#Brexit Polska

HOUSE_OVERSIGHT_011202
"
IMAGES-005-HOUSE_OVERSIGHT_019838.txt,"| | Epst_9780451494566_2p_all_r1.indd 350 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019838
"
IMAGES-002-HOUSE_OVERSIGHT_013875.txt,"Becoming a member of the NR is not just about working smarter. It’s about building a system to
replace yourself.

This is the first exercise.

Even if you have no intention of becoming an entrepreneur, this is the ultimate continuation of our
80/20 and elimination process: Preparing someone to replace you (even if it never happens) will produce
an ultrarefined set of rules that will cut remaining fat and redundancy from your schedule. Lingering
unimportant tasks will disappear as soon as someone else is being paid to do them.

But what about the cost?

This is a hurdle that is hard for most. If I can do it better than an assistant, why should I pay them at
all? Because the goal is to free your time to focus on bigger and better things.

This chapter is a low-cost exercise to get you past this lifestyle limiter. It is absolutely necessary that
you realize that you can always do something more cheaply yourself. This doesn’t mean you want to
spend your time doing it. If you spend your time, worth $20—25 per hour, doing something that someone
else will do for $10 per hour, it’s simply a poor use of resources. It is important to take baby steps
toward paying others to do work for you. Few do it, which is another reason so few people have their
ideal lifestyles.

Even if the cost is occasionally more per hour than you currently earn, the trade is often worth it. Let’s
assume you make $50,000 and thus $25 per hour (working from 9-5, Monday through Friday, for 50
weeks per year). If you pay a top-notch assistant $30 per hour and he or she saves you one full 8-hour
shift per week, your cost (subtracting what you’re being paid) is $40 to free an extra day. Would you pay
$40 per week to work Monday to Thursday? I would, and I do. Keep in mind that this is a worst-case
cost scenario.

But what if your boss freaks out?

It’s largely a non-issue, and prevention is better than cure. There is no ethical or legal reason for the
boss to know if you choose non-sensitive tasks. The first option is to assign personal items. Time is time,
and if you’re spending time on chores and errands that could be spent better elsewhere, a VA will
improve life and the management learning curve is similar. Second, you can delegate business tasks that
don’t include financial information or identify your company.

Ready to build an army of assistants? Let’s first look at the dark side of delegation. A review is in
order to prevent abuses of power and wasteful behavior.

Delegation Dangers: Before Getting Started

The first rule of any technology used in a business is that automation applied to an efficient
operation will magnify the efficiency. The second is that automation applied to an inefficient
operation will magnify the inefficiency.

— BILL GATES

H... you ever been given illogical assignments, handed unimportant work, or commanded to do

something in the most inefficient fashion possible? Not fun and not productive.

Now it’s your turn to show that you know better. Delegation is to be used as a further step in
reduction, not as an excuse to create more movement and add the unimportant. Remember—unless
something is well-defined and important, no one should do it.

HOUSE_OVERSIGHT_013875
"
IMAGES-007-HOUSE_OVERSIGHT_023399.txt,"In re: TERRORIST ATTACKS ON SEPTEMBER 11, 2001., 2012 WL 257568 (2012)

necessary to mount a significant transborder attack. See JA3777-78. In particular, plaintiffs alleged that support during that
crucial period enabled al-Qaeda to expand its footprint, train terrorists, plot and plan acts of terror, and carry out such acts
around the world. JA798-800, 823, 843-44, 3783, 3836, 3871; cf SPA152 (Terrorist Attacks IV) (as the district court
elsewhere acknowledged, “[s]ince its inception in the late 1980’s, al-Qaeda has relied on well-placed financial facilitators and
logistical sponsors to raise, manage and distribute money and resources, enabling it to grow rapidly into a formidable
international terrorist network”).

Imposing ATA liability on defendants who provide this crucial formative support for a terrorist organization is clearly
consistent with Congress’ intent, see supra pp. 66-73, and consistent with the nature of *119 how terrorist groups grow and
become capable of undertaking attacks which, like the September 11 attacks, often take years of planning and development.
See, e.g., 9/11 Commission Final Report p. 48. Thus, as the Seventh Circuit has held en banc, the ATA is predicated on the
assumption that “[t]errorism campaigns often last for many decades .... Seed money for terrorism can sprout acts of violence
long after the investment.” Boim IIT, 549 F.3d at 700. The court went so far as to conclude that, as a general matter, imposing
liability upon “someone who with the requisite state of mind contributed to a terrorist organization in 1995 that killed an
American abroad in 2045 ... would not be as outlandish, given the character of terrorism, as one might think.” Jd. at 699-700.
Here, of course, a much more direct connection of a few years exists between defendants’ acts that supported the
development of what became the world’s most extensive and capable global terrorist organization and that group’s execution
of its most sophisticated and deadly operation.

Lastly, the district court found that “[t]he United States had not even been targeted by al Qaeda” when “defendants provided
[Osama bin Laden] with funding” while “in Sudan during the early 1990’s.” SPA247 (Terrorist Attacks V). This finding is
blatantly incorrect. See supra pp. 28- *120 29. Osama bin Laden had been openly “singl[ing] out the United States for attack”
“since 1992.” 9-11 Commission Final Report, at 48. “Plans to attack the United States were developed with unwavering
single-mindedness throughout the 1990s.” Jd.

II. The District Court Improperly Dismissed The Alien Tort Statute Claims Because The Statute Encompasses Claims
Based On Acts Related To International Terrorism

The district court dismissed the Alien Tort Statute (“ATS”) claims against a handful of defendants because it thought
plaintiffs were required to, but did not, plead “factual allegations [to] support a reasonable inference that the defendant(s]
purposefully aided and abetted, conspired with, or materially supported al Qaeda in the commission of an act of terrorism
involving the hyacking of a commercial airplane.” SPA233 (Terrorist Attacks V). That holding is based on a mistaken
assumption that the ATS authorizes, or plaintiffs alleged, only tort claims based on the hijacking of a commercial airplane in
violation of international law. Neither the ATS nor plaintiffs’ complaints are so limited. Instead, the ATS permits the federal
courts to adjudicate a civil action “by an alien for a tort only, committed in violation of the laws of nations or a treaty of the
United States.” 28 U.S.C. § 1350. As explained below, the “laws of nations” *121 prohibit acts of international terrorism,
including the provision of material support for terrorism, and is not so narrowly focused on hijacking commercial airplanes.
See infra at Points II.B & C. And, plaintiffs adequately pled facts that readily support a reasonable inference that defendants
knowingly and intentionally provided financing and other forms of material support to al-Qaeda to further its international
terrorism. See supra Points I.B.2 & I.B.3.

The ATS is a jurisdictional statute that Congress enacted as part of the Judiciary Act of 1789 on the “understanding that the
common law would provide a cause of action for the modest number of international law violations with a potential for
personal liability at that time,” namely “violation of safe conducts, infringement of the rights of ambassadors, and piracy.”
Sosa v. Alvarez-Machain, 542 U.S. 692, 712, 724 (2004). In Sosa, the Supreme Court held that federal courts also may permit
aliens to assert tort claims “based on the present-day law of nations” as long as they “rest on a norm of international character
accepted by the civilized world and defined with a specificity comparable to the features of the 18th-century paradigms.” Jd.
at 724-25. In making this determination, courts should consider “the potential implications for the foreign relations of the
United *122 States” and should be “wary of impinging on the discretion of the Legislative and Executive Branches in
managing foreign affairs.” Jd. at 727.

In cases decided after Sosa, this Court has looked to three factors to determine whether a claim adequately alleges a violation
of customary international law that is cognizable in a tort action under the ATS. To state an ATS claim, the alleged tort must

WESTLAW

HOUSE_OVERSIGHT_023399
"
IMAGES-012-HOUSE_OVERSIGHT_032824.txt,"the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032824
"
IMAGES-004-HOUSE_OVERSIGHT_017284.txt,"4.2.12
WC: 191694

For example, Helena Stoeckley testified to the jury that she could not remember where she had
been on the night of the murders. MacDonald's attorneys tried to introduce the testimony of six
witnesses - - including a police officer - - to whom she had previously admitted that she was in the
MacDonald house with her friends that night. Since testimony about Stoeckley's prior ad-missions
would technically constitute ""hearsay"" - - that is, testimony by one witness about what another
witness had said outside the courtroom - - the judge ruled that the jury could hear about
Stoeckley's hearsay admissions only if [corroborating evidence showed] that they [were]
‘trustworthy.’ ""

The judge—who was also unaware of the handwritten lab notes—ruled that there was no
""physical evidence"" that corroborated Stoeckley's admissions; therefore, her admissions were not
trustworthy. Had he been aware of this corroborating evidence, he would have been obligated to
allow the hearsay admissions into evidence.

Thus, the jury never learned that there was hard, scientific evidence of intruders in the house-or
that a woman matching MacDonald's description of one of the intruders had actually admitted to
six different people that she and her friends, not Jeffrey MacDonald, were the killers.

Moreover, in 2005, the former Deputy Marshall, Jim Britt, who was in charge of escorting
Helena Stoeckley to the courtroom came forward and told MacDonald’s lawyer the
following:

Jim Britt avers that he personally witnessed Helena Stoeckley state to James
Blackburn [the prosecutor] that she and others were present in the MacDonald home
on the night of the MacDonald murders and that they had gone there to acquire
drugs; Jim Britt further avers that he witnessed and heard James Blackburn, upon
hearing this, directly threaten Helena Stoeckley, telling her that if she so testified in
court he would indict her for first degree murder. This threat caused her to change
her testimony, as the next day, when called to the witness stand by the defense,
Stoeckley claimed to have amnesia as to her whereabouts from midnight until 5 a.m.
the night of the MacDonald murders -- the precise time-frame during which the
crimes occurred. James Blackburn never disclosed to the court or defense counsel
what Helena Stoeckley admitted to him in Jim Britt's presence. On the contrary,
Blackburn, at a critical juncture in the trial, advised the court that Stoeckley, when he
interviewed her, denied having any knowledge of the MacDonald family, the
MacDonald home, or involvement in the MacDonald murders. Blackburn even went
so far as to elicit from Stoeckley, through leading questions before the jury,
testimony that was contrary to what she had told him during his interview of her the
day before in the presence of Jim Britt.

Finally new DNA and forensic testing has revealed three specimens that did not match any of the
people in the house, as well as unidentified hairs under the fingernails of the victims. This new
and suppressed evidence corroborates Stoeckley’s original account that she remembers being in
the house and participating in the murders. Had the trial judge known about this corroboration,
he would surely have allowed Stoeckley’s earlier statements to be heard by the jury.

197

HOUSE_OVERSIGHT_017284
"
IMAGES-003-HOUSE_OVERSIGHT_015695.txt,"Deep Blue

York, watching a chess match. It’s no ordinary match. Two men sit

opposite each other. One, a neatly suited figure, stares intently at the
board. You can almost see the heat rising from his head as he processes
the possibilities before him. The other, sits implacably calm and, before
each turn, looks to a screen at the side of the board, reads the instruction,
and makes his move.

This is the famous match between Garry Kasparov and IBM’s Deep
Blue. Kasparov, a child prodigy, became world chess champion at the age
of fifteen and, to this day, holds the record for the highest chess ranking
ever achieved. Some consider him one of the most intelligent people on
the planet. His opponent, Deep Blue, is a massively parallel chess-playing
computer built by IBM’s Watson Research Laboratory. The machine itself
sits a few blocks north of the tournament in an air-conditioned room,
and relays the moves over a phone line to Joe Hoane, the IBM researcher
who moves the pieces.

Six months earlier, in Philadelphia, Kasparov won against Deep Blue.
This is the rematch and has generated a worldwide media frenzy. Tickets
to the event are sold out and most news organizations give a blow-by-
blow report each day. On the eighth day of the tournament Kasparov and
Deep Blue are level pegging. Kasparov is playing an opening he knows
well. It’s one designed to be hard for computers to play and has been
tested extensively against Fritz, a chess computer Grand Masters use for
practice. But Deep Blue doesn’t seem fazed. Kasparov is visibly tired. On
the 16 move he makes a dreadful blunder and sinks into despair. An
hour later, after some moments of quiet contemplation, he tips over his

] t is 1997 and we are on the 39"" story of the Equitable Center in New

HOUSE_OVERSIGHT_015695
"
IMAGES-009-HOUSE_OVERSIGHT_027295.txt,"Flags: 1085445
Is Read: No

Is Invitation: No

2%

GUID: CF920874-2B4A-4520-B11A-611A21EE34A9

Message: Yoo memo

Time: 06/16/18 08:50:14 AM (550857014)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: AS522D410-20FD-4F26-8E4B-5BD4152F59B0

Message: ???

Sender: e:jeeitunes@gmail.com

Time: 06/16/18 08:51:22 AM (550857082)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: E2FFB/7DA-158A-4D92-A7FA-7F9E386B747

Gl

Message: To remove the prohibition on indicting a sitting president. , would be exactly

the same as withdrawing the opinion on torture

sender: iy

Time: 06/16/18 09:07:03 AM (550858023)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: F92410B5-D9

Ps

1-4 BBF-9322-D960F28BEB78

Message: Will pull

Sender: e:jeeitunes@gmail.com

Time: 06/16/18 09:33:54 AM (550859634)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: C403F44E-F3FB-4002-9BEO-ES5BBCCOEDID

Message: Near th nd of the Bush administration,
OLC had determined that certain legal

files, explaining that during his tenure,

propositions previously stated in ten OLC opinions

There is precedent. And

Bradbury signed two memoranda for the

issued between 2001 and 2003

concerning executive power in the War on Terror no longer reflected the views of OLC..

Rosenstein can do the same

Sender: e:jeeitunes@gmail.com

HOUSE_OVERSIGHT_027295
"
IMAGES-010-HOUSE_OVERSIGHT_029363.txt,"¢ A strong and growing economy
in an open relationship with global
markets.

¢ Foreign policy that assures
international backing, especially
American — diplomatic and economic-
backing Israel's positions, and which
holds the ""moral high ground"" vis-a-
vis our enemies and opponents.

¢ The fact that Israel is stronger
than any combination of enemies is
what enables us to act from a position
of strength and self confidence in order
to change the reality : to counter the
threats and to seize the opportunities.

¢ Let me elaborate briefly about
each of the threats:

Two ironies and one insight about Isis.

HOUSE_OVERSIGHT_029363
"
IMAGES-002-HOUSE_OVERSIGHT_013685.txt,"Brain Physics and the Respiritualization of Healing. Arnold J. Mandell, Bulletin of
the National Guild of Catholic Psychiatrists. 28:19-24, 1983.

Toward a Psychobiology of Transcendence, God in the Brain. Arnold J. Mandell, |In
Psychobiology of Consciousness (eds. J.M. Davidson and R.J. Davidson). Plenum,
N.Y. 1980.

185

HOUSE_OVERSIGHT_013685
"
TEXT-001-HOUSE_OVERSIGHT_019221.txt,"Kenneth W. Starr 
Kirkland & Ellis LLP 
777 South Figueroa Street 
Los Angeles, CA 90017-5800 
May 27, 2008 
Joe D. Whitley 
Alston & Bird LLP 
The Atlantic Building 
950 F Street, NW 
Washington. DC 20004-1404 
VIA FACSIMILE CONFIDENTIAL 
Honorable Mark Filip 
Office of the Deputy Attorney General 
United States Department of Justice 
950 Pennsylvania Avenue, N.W. 
Washington, D.C. 20530 
Dear Judge Filip: 
This letter briefly supplements our prior submission to you dated May 19, 2008. In that 
communication, we urgently requested that your Office conduct an independent review of the 
proposed federal prosecution of our client, Jeffrey Epstein. The dual reasons for our request that 
you review this matter are (i) the bedrock need for integrity in the enforcement of federal 
criminal laws, and (ii) the profound questions raised by the unprecedented extension of federal 
law by the United States Attorney's Office in Miami (the ""USAO"") to a prominent public figure 
who has close ties to former President Clinton. 
The need for review is now all the more exigent. On Monday, May 19, 2008, First 
Assistant Jeffrey Sloman of the USAO responded to an email from Jay Lefkowitz informing U.S. 
Attorney Alex Acosta that we would be seeking your Office's review. Mr. Sloman's letter, 
which imposed a deadline of June 2, 2008 to comply with all the terms of the current Non-
Prosecution Agreement (the ""Agreement""), plus new unilateral modifications, on pain of being 
deemed in breach of that Agreement, appears to have been deliberately designed to deprive us of 
an adequate opportunity to seek your Office's review in this matter. 
The USAO's desire to foreclose a complete review is understandable, given that the 
Child Exploitation and Obscenity Section (""CEOS"") has already determined that our substantive 
arguments regarding why a federal prosecution of Mr. Epstein is not warranted were 
""compelling."" However, in contradiction to Mr. Sloman's assertion that CEOS had provided an 
independent, de novo review, CEOS made clear that it did not do so. Indeed, CEOS declined to 
examine several of the more troubling aspects of the investigation of Mr. Epstein, including the 
deliberate leak to the New York Times of numerous highly confidential aspects of the 
investigation and negotiations between the parties as well as the recent crop of civil lawsuits 
filed against Mr. Epstein by Mr. Sloman's former law partner. 
The unnecessary and arbitrarily imposed deadline set by the USAO was done without any 
respect for the normal functioning and scheduling of state judicial matters. It requires that 
Mr. Epstein's counsel persuade the State Attorney of Palm Beach to issue a criminal information 
HOUSE OVERSIGHT 019221 
Honorable Mark Filip 
May 27, 2008 
Page 2 
to a charge that the State Attorney has not, despite a two year investigation, determined to be 
appropriate. Mr. Epstein's counsel must also successfully expedite a plea of guilty to this charge 
on a date prior to July 8, 2008, which is the date presently set by the state court Judge. 
Further, the unnecessary deadline is even more problematic because Mr. Epstein's effort 
to reconcile the state charge and sentence with the terms of the Agreement requires an unusual 
and unprecedented threatened application of federal law. Thus, it places Mr. Epstein in the 
highly unusual position of having to demand that the State acquiesce to a more severe 
punishment than it had already determined was appropriate. 
We have attempted to resolve these and other issues through the USA() and CEOS, 
including raising our concerns about the USAO's inappropriate conduct with respect to this 
matter. But those avenues have now been shut down. Mr. Sloman's letter purports to prohibit 
any further contact between Mr. Epstein's defense team and U.S. Attorney Acosta, and instead 
requires us to communicate with the USA() only though Mr. Sloman's subordinates. 
While it pains us to say this, this misguided prosecution from the outset gives the 
appearance that it may have been politically motivated. Mr. Epstein is a highly successful, self-
made businessman and philanthropist who entered the public arena only by virtue of his close 
personal association with former President Bill Clinton. There is little doubt in our minds that 
the USA() never would have contemplated a prosecution in this case if Mr. Epstein were just 
another ""John."" 
U.S. Attorney Acosta previously has stated that he is ""sympathetic"" to our federalism-
related concerns, but he has taken the position that his authority is limited by enforcement 
policies set forth in Washington, D.C. As expressed in our prior communication to you, we 
believe that a complete and independent appraisal and resolution of this case most appropriately 
would be undertaken by your Office—beginning with the rescission of the arbitrary, unfair, and 
unprecedented deadline that Mr. Sloman demands to have imposed in this case. At the very 
least, we would appreciate a tolling of the arbitrary timeline imposed on our client by the USA() 
in order to allow time for your office to consider our request that you undertake a review of this 
case. 
Thank you for your time and attention. 
Respectfully submitted, 
, Q-1444 
Kenneth W. Starr 
D. Whitley 
Kirkland & Ellis LLP Alston & Bird LL 
HOUSE OVERSIGHT 019222 
05/27/2008 12:18 FAX 
II 001 
********************* 
*** TX REPORT *** 
********************* 
TRANSMISSION OK 
TX/RX NO 0439 
RECIPIENT ADDRESS 912025140487 
DESTINATION ID 
ST. TIME 05/27 12:18 
TIME USE 0034 
PAGES SENT 3 
RESULT OK 
KIRKLAND & ELLIS LLP 
Fax Transmittal 
777 South Figueroa Street 
Los Angeles, California 90017 
Phone: (213) 680-8400 
Fax: (213) 680-8500 
Please notify us immediately if any pages arc not received. 
THE INFORMATION CONTAINED IN THIS COMMUNICATION IS CONFIDENTIAL, MAY 
BE ATTORNEY-CLIENT PRIVILEGED, MAY CONSTITUTE INSIDE INFORMATION, AND 
IS INTENDED ONLY FOR THE USE OF THE ADDRESSEE. UNAUTHORIZED USE, 
DISCLOSURE OR COPYING IS STRICTLY PROHIBITED AND MAY BE UNLAWFUL. 
IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, 
PLEASE NOTIFY US IMMEDIATELY AT: 
(213) 680-8400. 
To: 
Flonorab14.-! Mark Filip 
Company: Fax ft: Direct #: 
Office of the Deputy Attorney Cie/len:II 
United State$ Department of Justice 
From: Date: Pages w/cover: Fax #: Direct It: 
Kenneth W. Starr May 27, 2008 3 
Message: 
HOUSE OVERSIGHT 019223 
"
IMAGES-005-HOUSE_OVERSIGHT_020049.txt,"that he was willing to take on the state power. The outsider against the insiders. After all,
that’s why he was elected.

At some level he had a point. One reason presidents don’t fire the director of the FBI is
that they fear the consequences. It’s the Hoover syndrome: any president can be hostage to
what the FBI knows, and a president who treats the FBI with something less than
deference does so at his own peril. But this president had stood up to the feds. One man
against the unaccountable power that the left had long railed against—and that more
recently the right had taken as a Holy Grail issue, too. “Everybody should be rooting for
me,” the president said to friends, more and more plaintively.

Here was another peculiar Trump attribute: an inability to see his actions the way most
others saw them. Or to fully appreciate how people expected him to behave. The notion of
the presidency as an institutional and political concept, with an emphasis on ritual and
propriety and semiotic messaging—statesmanship—was quite beyond him.

Inside the government, the response to Comey’s firing was a kind of bureaucratic
revulsion. Bannon had tried to explain to Trump the essential nature of career government
officials, people whose comfort zone was in their association with hegemonic
organizations and a sense of a higher cause—they were different, very different, from
those who sought individual distinction. Whatever else Comey might be, he was first and
foremost a bureaucrat. Casting him ignominiously out was yet another Trump insult to the
bureaucracy.

Rod Rosenstein, the author of the letter that ostensibly provided the justification for
firing Comey, now stood in the line of fire. The fifty-two-year-old Rosenstein, who, in
rimless glasses, seemed to style himself as a bureaucrat’s bureaucrat, was the longest-
serving U.S. attorney in the country. He lived within the system, all by the book, his
highest goal seeming to be to have people say he did things by the book. He was a straight
shooter—and he wanted everyone to know it.

All this was undermined by Trump—trashed, even. The brow-beating and snarling
president had hectored the country’s two top law enforcement officials into an ill-
considered or, at the very least, an ill-timed indictment of the director of the FBI.
Rosenstein was already feeling used and abused. And then he was shown to have been
tricked, too. He was a dupe.

The president had forced Rosenstein and Sessions to construct a legal rationale, yet
then he could not even maintain the bureaucratic pretense of following it. Having enlisted
Rosenstein and Sessions in his plot, Trump now exposed their efforts to present a
reasonable and aboveboard case as a sham—and, arguably, a plan to obstruct justice. The
president made it perfectly clear that he hadn’t fired the director of the FBI because he did
Hillary wrong; he fired Comey because the FBI was too aggressively investigating him
and his administration.

HOUSE_OVERSIGHT_020049
"
IMAGES-005-HOUSE_OVERSIGHT_019810.txt,"322 | Notes to pages 185-199

182 Putin had publicly enjoined him: Interview, Channel One, http://en-kremlin
.ru/events/president/news/19143. Also, former Russian intelligence officer who
requested anonymity, interview with author.

183 “If Snowden didn’t give”: Former NSA official who requested anonymity, inter-
view with author.

183 German federal prosecutor: Theodore Schleifer, “Germany Drops Probe into U.S.
Spying on Merkel,” CNN Politics, June 13, 2015.

184 “Russian planners might have”: Adam Entous, Julian E. Barnes, and Siobhan

Gorman, “U.S. Scurries to Shore Up Spying on Russia,” Wall Street Journal,

March 24, 2014.

184 Britain also discovered: Tom Harper, Richard Kerbaj, and Tim Shipman, “British

Spies Betrayed to Russians and Chinese,” Sunday Times (London), June 14, 2015.

184 “losing some of its capabilities”: Chris Strohm and Gopal Ratnam, “NSA Leader
Seeks Openness on Secret Surveillance Orders,” Bloomberg News, June 13, 2013.
Also, staff member of National Security Council who requested anonymity,
interview with author.

CHAPTER 18 The Unheeded Warning

185 “The NSA—the world’s”: Morell, Great War of Our Time, 287.

185 Alexander Poteyev: Sergei L. Loiko, “Former Russian Spymaster Convicted of
Treason,” Los Angeles Times, June 28, 2011.

186 “live under cover in the West”: Pavel Sudoplatov, Special Tasks: The Memoirs of

© an Unwanted Witness (Boston: Little, Brown, 1994), xxii. ®

186 The CIA learned of this: Former NSA official who requested anonymity, inter-
view with author.

187 “the business of intelligence”: Angleton, interview with author.

187 preparing these “Americans”: FBI, “Operation Ghost Stories: Inside the Rus-
sian Spy Case,” Oct. 31, 2011, https://www.fbi.gov/news/stories/2011/october
/russian_103111/russian_103111.

188 NSA at Fort Meade: Gertz, “Counterspies Hunt Russian Mole Inside National
Security Agency.” Also, Bill Gertz, interview with author.

188 “They [were] looking for one”: John R. Schindler, “The Painful Truth About
Snowden,” XX Committee, http://20committee.com/2015/07/19/the-painful
-truth-about-snowden/.

188 “insider threats by trusted insiders”: Gellman and Miller, “Black Budget’ Sum-
mary Details U.S. Spy Network’s Successes, Failures, and Objectives.”

189 The preemptive arrests: Gregory L. White, “Russia Convicts Former Spy Official
for Exposing Agents in U.S. Ring,” Wall Street Journal, June 28, 2011.

189 turned up no evidence: Former NSA executive who requested anonymity, inter-
view with author.

190 “broke the record”: Tennent H. Bagley, Spymaster (New York: Skyhorse, 2015), 3.

190 Russia had dispatched: Weiner, Legacy of Ashes, 450-51. Also, Walter Pincus,
“CIA Passed Bogus News to Presidents,” Washington Post, Oct. 31, 1995.

190 “There are no rivers”: Baker, “Michael Hayden Says U.S. Is Easy Prey for
Hackers.”

191 “The best defense”: Former NSA official who requested anonymity, interview
with author.

| | Epst_9780451494566_2p_all_r.indd 322 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019810
"
IMAGES-011-HOUSE_OVERSIGHT_031165.txt,"From: US GIO [us.gio@jpmorgan.com]

Sent: 6/14/2011 11:54:12 AM
To: Undisclosed recipients:;
Subject: Eye on the Market, June 14, 2011

Attachments: image001.png; 06-14-11 - EOTM - The Stratford Inn.pdf

Eye on the Market, June 14, 2011 (attached PDF is easier to read)

Market update: for better or worse, this is the kind of year we were expecting. We were surprised at the market’s
unbridled optimism in April*, since the tug-of-war between private sector profits and public sector problems has a long
way to go. We chose the charts on the front page of our 2011 Outlook carefully; they were designed to show that equity
markets were priced inexpensively, but were likely to stay that way, given too much stimulus in the East, and ineffective
stimulus in the West **. We expect a modest second half recovery, based primarily on US capital spending increases,
easy credit conditions everywhere, and a pick-up in industrial production in Japan. But the world’s structural problems
are weighing on the private sector, and our portfolios are positioned for a single-digit year in credit, equities and hedge
funds.

* The Osama Bin Laden episode marked the equity market peak. Some commentators saw this event as a basis for further optimism,
but unsurprisingly, the positive glow lasted for only around 2.5 hours the subsequent Monday. According to the Congressional
Research Service, over the last decade, the US has spent at least $1.1 trillion in war funding operations, surpassing the
constant-dollar cost of the Korean and Vietnam Wars combined. This highlights the disproportionately large pain that small,
non-sovereign entities can inflict in the modern era.

** So far, the large growth and employment multipliers from deficit spending estimated by Christina Romer (former Chair of the
President’s Council of Economic Advisers) have not materialized. John Taylor and John Cogan from Stanford have been closer to the
mark: an initial boost, but then a rapidly fading benefit

Something different this week. I was on the road seeing clients last week, and was asked “what should be done about
job growth”. We are investors and not politicians, so my ideas [a] are not relevant. However, it seems to me that anyone
involved in the jobs debate should be required to read the article below, written after the prior deep US recession
(1990-1991). It’s from George McGovern, one of the most liberal politicians [b] ever to hold office and run for
President. His epiphanies after leaving office and running the Stratford Inn are worth considering as legislators
contemplate additional job creation measures, and the broader regulatory environment in which the private sector
operates.

“A Politician's Dream Is a Businessman's Nightmare”, by George McGovern, June 1992 [c]

Wisdom too often never comes, and so one ought not to reject it merely because it comes late. (Justice Felix
Frankfurter). It's been 11 years since I left the U.S. Senate, after serving 24 years in high public office. After
leaving a career in politics, I devoted much of my time to public lectures that took me into every state in the
union and much of Europe, Asia, the Middle East and Latin America.

In 1988, I invested most of the earnings from this lecture circuit acquiring the leasehold on Connecticut's
Stratford Inn. Hotels, inns and restaurants have always held a special fascination for me. The Stratford Inn
promised the realization of a longtime dream to own a combination hotel, restaurant and public conference
facility--complete with an experienced manager and staff. In retrospect, I wish I had known more about the
hazards and difficulties of such a business, especially during a recession of the kind that hit New England just
as I was acquiring the inn's 43-year leasehold. I also wish that during the years I was in public office, I had
had this firsthand experience about the difficulties business people face every day. That knowledge would
have made me a better U.S. senator and a more understanding presidential contender.

Today we are much closer to a general acknowledgment that government must encourage business to expand
and grow. Bill Clinton, Paul Tsongas, Bob Kerrey and others have, I believe, changed the debate of our
party [d]. We intuitively know that to create job opportunities we need entrepreneurs who will risk their
capital against an expected payoff. Too often, however, public policy does not consider whether we are
choking off those opportunities.

HOUSE_OVERSIGHT_031165
"
IMAGES-003-HOUSE_OVERSIGHT_015865.txt,"Complexity & Chaos 175

prepared to call ourselves animals, so should the little creatures which
emerge within the game. We simply emerged in a similar but slightly
more complex game.

This proposal would mean our Universe is entirely deterministic,
our lives the result of a gigantic computer program that we live within
and form part of. Chaos might make it impossible to predict the future
without running the program and watching what happened, but the
results would be inevitable, set in motion at the dawn of time. There is
no place for free will in such a Universe, no place for reason. The world
would simply be.

But a strange idea will come to our aid to show us the limits of
computation and allow us to question whether we live in a predetermined
world. This idea is Aleph 1 - something larger than infinity. And it is
infinity we will explore next.

~ Lube
ee te
1. ty*
® *
®
aVh ow” rm a
a . a er
™ alt oly
en .
ia he ath,
ii hs 2s

Conway's Game of Life

HOUSE_OVERSIGHT_015865
"
IMAGES-006-HOUSE_OVERSIGHT_021689.txt,"¥

To: Criminal tmMigative From: Miami *

Re: 31E-

B.

MM-108062, 03/04/2011

Bureau Travelers:

Name: b6
DOB: bic
SSAN:

PASS:

Expires:

Clearance:

Name:

DOB:

SSAN:
PASS:
Expires:
Clearance:

Dates of travel:

The travel for Miami personnel is scheduled from March 14,

2011 to March 21, 2011.

Cc.

D.

Points of travel:

The agents will travel from West Palm Beach, Florida to b6
and return to West Palm Beach, Florida. b7c

Purpose of travel:

SA and _saf———]will travel tol] to
interview about her sexual abuse.

E. Other agencies involved:
N/A
F. Dates of previous travel:
None
SA and sa[__Jhave completed Overseas Awareness
training, and Personnel Recovery 1 training.

HOUSE_OVERSIGHT_021689
"
IMAGES-011-HOUSE_OVERSIGHT_031603.txt,"Financial Reporter
New York Times

http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_031603
"
IMAGES-006-HOUSE_OVERSIGHT_020597.txt,"138

are two types of bureaucracies: (1) general-purpose bureaucracies, and (2) specialized
bureaucracies. The following institutional profiles include many of the principal bodies

involved in China’s overseas influence activities.

Ministry of Foreign Affairs

The Ministry of Foreign Affairs is a typical general-purpose bureaucracy that serves
as China’s main interlocutor with foreign governments. But since most of its time is
consumed by routine diplomatic activities, the Foreign Ministry itself does not play a
significant role in influence operations overseas. The one area where it does is via its
Department of Public Diplomacy (1h3e#82334943e 51), which primarily oversees the MFA
Spokesman’s Office in Beijing, international media outreach, and China’s embassy
spokesmen abroad; international visitor programs; and “exchange” organizations, such
as the Chinese People’s Institute of Foreign Affairs (which bring a range of former
officials and international affairs experts to China). Also, the MFA is important
insofar as Chinese embassies abroad have representatives of the Ministry of Culture,
the Xinhua News Agency, the CCP International Liaison Department, the Ministry
of Education, and other bureaucratic bodies, each of which are involved in foreign

influence activities.

United Front Work Department

The CCP United Front Work Department is a specialized CCP organization, one of
four Central Committee departments. Its principal mission is to build support for
the CCP and its policies among domestic ethnic groups, religious groups, the eight
so-called democratic parties (R= tit), the Chinese diaspora worldwide, and political,
economic, and social elites in Hong Kong, Macao, and Taiwan. These United Front
activities have a long history dating to the CCP’s pre-1949 rise to power. The main
tasks and objectives of the CCP’s United Front activities outside of Greater China are
laid out in Article 31 of the CCP Guidelines on United Front Work (PHRF RAKE
IF Kb) issued in 2015—they target almost exclusively the Chinese diaspora, who
are supposed to be encouraged to “contribute to the modernization and reunification
of the motherland, advance the cause of opposing (Taiwanese) independence and
promoting reunification, inherit and propagate China’s outstanding culture, and
promote the friendship between the Chinese people and the peoples of the other

countries in the world.”

Appendix 1

HOUSE_OVERSIGHT_020597
"
IMAGES-001-HOUSE_OVERSIGHT_012045.txt,"Bank of America Merrill Lynch
Merrill Lynch, Pierce, Fenner & Smith Incorporated
One Bryant Park | 5th Floor | New York, NY 10036

ho i
Fl

From: Ens, Amanda

Sent: Tuesday, November 22, 2016 2:15 PM
To: ‘jeffrey E.'; Rich Kahn

Subject: Financials: buy XLF call spreads

Underweight positioning, buybacks resuming, positive momentum and strong fundamentals all indicate that there is
still further upside potential in financials (more details below). Our financials sector specialist thinks XLF could have
another 20-25% upside given the many levers to the Trump Trade: less regulation, higher interest rates, higher vol,
economic growth, loan growth, etc. The asset sensitive regional banks are more of a pure play on a rates move but we
view the larger cap banks as having multi-pronged upside given the aforementioned points.

That said, given the velocity and magnitude of the recent move and uncertainty around the impact and timing of
Trump’s policies, we believe options offer better risk-reward than being outright long financials stocks here. With flat
call skew, “appearing” call spreads with upside knock-ins price well.

Buy a 1 year XLF call spread for 2.6% premium

e Buyaii0% call

e = Sell a 117.5% call with an at-expiry knock-in at 125% (call is not active unless XLF is 125% or higher at expiry)
o Total premium is 2.6%

o Gross max payoff if knock-in is triggered: 2.9x (7.5%/2.6%)

o Gross max payoff if knock-in is not triggered: 5.7x (14.9%/2.6%) — you have upside up to 124.9%

Post Election Flow Skews - Buyers of Health Care (via ETFs) and Financials (mainly ETFs)
e US Buyback Flows

e Cons Disc, Technology and Financials are the largest 3 sectors for US buybacks (over 70% of execution). We
are seeing a seasonal increase in buybacks as we come out of the low seasonal month of the year (October) and should
see increased buyback executions until year-end, another source of upside for the Cons Disc, Technology and Financials
sectors.

Global Positioning, Nigel Tupper, 11/14. Large long-only funds are more underweight Financials than any other
sector and are UW this sector in all regions.

Future of Financials conference hosted 90 public and private companies at our Future of Financials conference. We are
raising our price objectives across most of our names. Three primary reasons why we think there is upside remaining
after the recent rally: 1) an improved outlook on both activity levels and interest rates, driving revenue upside; 2)
potentially lower regulatory burden, particularly as new supervisory leadership can come with the new administration;
and 3) relatively lighter positioning in US financials vs. other sectors. (Erika Najarian)

Trades Gaining Momentum: Finance-Related Assets vs. S&P 500

HOUSE_OVERSIGHT_012045
"
IMAGES-006-HOUSE_OVERSIGHT_021851.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

28

A. Correct.

Q. And focusing now, not -- not on Virginia
Roberts, we are focusing on the other minors, correct?
I just have that in mind, right?

A. I'm sorry. Could you repeat the question?

Q. I want to make sure you're focusing on the
allegation in this pleading that Professor Dershowitz
abused other minors; do you have that in mind?

A. I do.

Q. Okay. First of all, I want to know, and for
this question you don't have to give the names, do you
have specific minors who you, at this point, contend
were abused?

A. I believe that the pool of people came from,
among other young girls, roughly 23 to 24 minors
identified in the Palm Beach Police Department report,
or other similarly-situated girls in either New York, in
the airplanes, or on -- in the Palm Beach mansion. So
this -- the problem that I have here frankly, I'm sorry,
but I think your question fairly calls for a longer
answer, I could give you the names of those girls if
Jeffrey Epstein would tell us the names of those girls
that he trafficked in Florida, in New York, on his
airplanes and elsewhere. But I think everyone in this

room is aware Mr. Epstein has repeatedly refused to

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021851

"
IMAGES-008-HOUSE_OVERSIGHT_025785.txt,"Economic Research: How Increasing Income Inequality Is Dampening U.S. Economic Growth, And Possible Ways
To Change The Tide

(6) To the extent that households benefit from company-sponsored health plans whose costs have risen sharply, these

figures may be somewhat understated.

(7) Thomas Piketty and Emmanuel Saez, ""Income Inequality in the US., 1913-1998,"" 2003
(8) Emmanuel Saez, ""Striking it Richer: The Evolution of Top Incomes in the US.,"" 2013
(9) CBO, 2011

(10) ""Capital,"" Thomas Piketty

(11) CBO, 2011

(12) The globalization of the world economy may have affected the distribution of wage rates at home. The U.S. has
seen international trade and immigration increase in the past few decades, as well as an increase in the consumption of
imported goods. Theoretically, an increase in imported goods, at the expense of domestic goods produced by
lower-skilled workers, could hold down wages of domestic workers, though research on the subject has been
inconclusive. An increase in the supply of foreign-born workers could also put pressure on wages in those jobs. But,
here as well, the effects of foreign workers on wage rates have been modest. Indeed, research note that immigrant
workers largely complement, rather than substitute, native-born workers, and thus have little impact on wages, while

actually increasing overall growth.

(13) David Card, Thomas Lemieux, and Craig Riddell, ""Unions and Wage Inequality,"" December 2004; ""Interview with
David Card,"" Federal Reserve Bank of Minneapolis, Dec. 1, 2006

(14) ""Capital,"" Thomas Piketty
(15) CBO, 2011
(16) CBO, 2011
(17) CBO, 2013
(18) CBO, 2013

(19) CBO, 2013. The CBO noted that other transfers declined from nearly 3% to under 2%. Transfers to low-income
households, such as Aid to Families With Dependent Children and Temporary Assistance for Needy Families, declined

relative to market income.

(20) For example, the Bush Administration tax cuts of 2001 and 2003 reduced the income tax rate, capital gains tax
rate, and dividend tax rate. Earlier, the tax cuts under President Ronald Reagan in the 1980s lowered the top individual

income tax rate to 28% from 50%. There was no reduction to the payroll tax rate until the Payroll Tax Holiday of 2010.
(21) CBO, 2013

(22) CBO, 2011; taxfoundation.org, ""Federal Individual Income Tax Rates History""

WWW.STANDARDANDPOORS.COM/RATINGSDIRECT AUGUST 5, 2014 23

1351366 | 302136118

HOUSE_OVERSIGHT_025785
"
IMAGES-010-HOUSE_OVERSIGHT_030154.txt,"Date: Saturday, July 24 2010 04:13 PM
Subject: Re:
From: Jeffrey Epstein <jeevacation@gmail.com>

To: Daniel Sick a

i will be in paris tomooorw night

On Sat, Jul 24, 2010 at 9:32 AM, Daniel Siad (qq wrote:

the other girl name is Anastasia kuznetsova

On Sat, Jul 24, 2010 at 2:28 PM, Daniel Siad ee wrote:

Can you call me

I am with tigrane he would like to meet you he is here with me in Ibiza with 8 top girls he said he would like to
build some thing with you

can you come to Ibiza we have a huge house or how can we orgnise this meeting even Jean Luc could doo a
great biz also

he has the most amizing top models on stand by I told him not to do any deals with anybody before he meet
with you.

he stoped working with IMG and Trump wi here please call me and let me know what is your plans

warmest regards
Daniel

On Fri, Jul 23, 2010 at 2:38 PM, Jeffrey Epstein <jeevacation@gmail.com > wrote:

what is your schedule?

Bis 2fe Is fe 2s 2s 24s ois 2fe 2s fe fs fs 24s ois 2fe ois fe fs of 2s ois 2fe ois fe 2s fe 2c ois 2fe ois 2fe fs 2 2c ois 2fe ois fe fs of 24s ois 2fe ois 2fe fs fs 2c ois 2c ois oie ois 2s 2c ok 2 ok

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com , and
destroy this communication and all copies thereof,
including all attachments.

Confidentiality Notice: The information contained in this electronic message is PRIVILEGED and
confidential information intended only for the use of the individual entity or entities named as recipient or
recipients. If the reader is not the intended recipient, be hereby notified that any dissemination, distribution or
copy of this communication 1s strictly prohibited. If you have received this communication in error, please

HOUSE_OVERSIGHT_030154
"
IMAGES-001-HOUSE_OVERSIGHT_010652.txt,"OGE Form 278e (March 2014)
Instructions for Part 6
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.

i ee i i we ee or ee
Donald J. Trump

‘i a

APPLE INC

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ESS

Income Type Income Amount

Er
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fererwe |v verse [onsen can] session
Joustocmenssauseco [| vaemevirsony [owsencanm can] seem siom@
lesen sme [ratory [onsemcanmcon] sors
Teussoscencesne a mmmnesison | cmcon | seoer-siomas
Teorcawcise coon [WA [ veterans [emanation] smn sigma
Flrurwornennne Wa vtomenenseny_[onsemcanncon] sors
fpcocsronninccmos [| wawterenension | —cxmcon | sasorsmoe
fowreoeance semwoewe a vatermenensinn | onmcon | sson-eam
Phezoncomuncarensnc | ""| seers) [oninarcnan| Toner-vonoe |
ane
Alwarencnemee =
or a]
shatoone

ADVANTAGE ADVISORS XANTHUS FUND, LLC © | Seat aeeeeO

ee
ee

The Fred C. Trump December 16, 1976 Trust- F/B/O

N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Lm | ae
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Donald Tu rr

Information being reported is as of April 15, 2017.

HOUSE_OVERSIGHT_010652
"
TEXT-001-HOUSE_OVERSIGHT_028942.txt,"From: Joi Ito 
Sent: 10/25/2015 1:02:26 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Good idea. It didn't seem like Obama was that interested in hard sciences though... What's your read? 
On Oct 25, 2015, at 7:46 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
another idea for obama. not as good as bio signal intelligence. . the cinese are willing to build a new 
collider. they will put up the money and build it , but need american tech. if he were to call it the obama xi 
collider. his legazy would be great in scinece and the project takes 15 -30 years. 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Please use this email for confidential mail only. For general Media Lab email, please use 
HOUSE OVERSIGHT 028942 
"
IMAGES-006-HOUSE_OVERSIGHT_022380.txt,"Administration and
agenda

Looking ahead to the Trump administration and a
Republican-controlled Congress, the focus will be on
Trump’s top priorities: infrastructure, tax reform,
dismantling the Affordable Care Act (ACA), and
immigration reform. President-elect Trump highlighted
his commitment to infrastructure investment during his
victory speech early November 9. “Weare going to fix our
inner cities and rebuild our highways, bridges, tunnels,
airports, schools, hospitals,” he said. “We’re going to
rebuild our infrastructure, which will become, by the way,
second to none. And we will put millions of our people to
work as we rebuild it.” Trump would fund infrastructure
investment through public-private partnerships and
private investments through tax incentivesrather than
tax reform, though he has called for early action on that
issue as well. On October 22, Trump outlined a voter
contract for hisfirst 100 days plan that calls for
enactment of:

» The Middle Class Tax Relief And Simplification Act
(comprehensive tax reform);

» The End the Offshoring Act, to establish tariffsto
discourage companies from laying off their workers in
order to relocatein other countries and ship their
products back to the U.S. tax-free;

» TheAmerican Energy & Infrastructure Act, to leverage
public-private partnerships and private investments
through tax incentivesto raise $1 trillionin
infrastructure investment over 10 years;

» The School Choice And Education Opportunity Act, to
expand primary education options and make college
more affordable;

» The Repeal and Replace Obamacare Act, to repeal the
ACA and replace it with Health Savings Accounts;

» The Affordable Childcare and Eldercare Act, to allow
Americansto deduct childcare and elder care;

» The End Illegal Immigration Act, to fund the
construction of a wall on the Mexican border;

» The Restoring Community Safety Act, to reduce crime;

» The Restoring National Security Act, to rebuild the
military by eliminating the defense sequester and
expanding military investment; and

» The Clean up Corruption in Washington Act, to enact
“new ethics reforms to Drain the Swamp and reduce
the corrupting influence of special interests on our
politics.”

As part of the voter contract announced in October,
Trump has also pledged to act on his first day in office to
“cancel every unconstitutional executive action,
memorandum and order issued by President Obama.”
Trump advisor Anthony Scaramucci said in October that
the new administration would repeal the rulemaking on
conflicts of interest in the delivery of investment advice to
IRA and 401(k) plan investors.

Regulationsthat have been finalized cannot be
unilaterally vacated by executive order without
intervening regulatory or legislative action. In order to
make changes to final regulations without legislative
action, agencies are typically required to follow the
administrative procedural process which requires a notice
and comment process prior to modifying regulations. If
an Administration wishes to repeal or revise a final
regulation through the administrative process, the agency
may be required to demonstrate that its actions are not
“arbitrary and capricious,” and based on morethana
change in political views. It is possible that a new
Administration could dispense with the notice and
comment process by moving to issue an interim final rule,
replacing the previousregulation. In this situation, the
agency could be called on demonstrate that it acted with
“good cause” to circumvent the typical notice and
comment requirements.

A new Administration could also use its executive power
to affect the level of legal defense of challengesto
existing regulations provided by the Administration or
temporarily refuse to exercise its enforcement
responsibilities until compelled through legal action or
public pressure.

Trump also intends to immediately begin the process of
filling the Supreme Court vacancy created by the death of
Antonin Scalia in early 2016 —one that could spark
fireworkson Capitol Hilland acrossthe country’s highly
charged political environment. How Republicans,
Democrats, and Trump navigate through the process of
nominating and confirming a Justice to the Supreme
Court is likely to set the tone in the Senate for the next
two years.

Trump also intends to act on trade issueson his first day

in office, including:

» announcing his intention to renegotiate or withdraw
from NAFTA;

» announcing withdrawal from the Trans-Pacific
Partnership; and

EY °

| Election 2016

HOUSE_OVERSIGHT_022380
"
IMAGES-010-HOUSE_OVERSIGHT_029405.txt,"Case 1:17-cv-03956-PGG Document1 Filed 05/25/17 Page1lof3

UNITED STATES DISTRICT COURT

FOR THE SOUTHERN DISTRICT OF NEW YORK

ween enn eee eee X
RADAR ONLINE LLC
Plaintiff,
-vV.-
FEDERAL BUREAU OF INVESTIGATION,
Defendant.
wenn een eee X

COMPLAINT
1. This is an action under the Freedom of Information Act, 5 U.S.C. § 552 (“FOIA”), to order
the production of Federal Bureau of Investigation (“FBI”) records concerning the agency’s
investigation and prosecution of financier Jeffrey Edward Epstein (“Epstein’’) for sexually
trafficking underage women. Defendant FBI has withheld these records despite a properly
filed FOIA request.
PARTIES
2. Plaintiff Radar Online LLC (“Radar”) is an online investigative news outlet read by millions.
3. The FBI, a component of the Department of Justice, is an agency of the United States with
possession and control of the records sought by Plaintiff.
JURISDICTION AND VENUE
4. This court has jurisdiction over this action pursuant to 28 U.S.C. § 1331 and 5 U.S.C. §
552(a)(4)(B).
5. Radar’s principal place of business is New York City and therefore venue is appropriate

1

HOUSE_OVERSIGHT_029405
"
IMAGES-008-HOUSE_OVERSIGHT_026298.txt,"Date: Friday, August 3 2018 03:49 AM
Subject: Fwd: Our May conversation - more thoughts

From:  Juleanna Glover FO

To: jeffrey E. <jeevacation@gmail.com >;
Flagging for you. This went out to that circle of third party thinkers. Hope all is well, Jeffrey.!

—.

Begin forwarded message:

From: Juleanna Glove (<i _ >
Date: August 2, 2018 at 2:45:08 PM CDT

To: Juleanna Glove iis >

Subject: Our May conversation - more thoughts

Hi all —

I spent some time mulling additional aspects of a third choice presidential run and wanted to run five

specific attributes for a candidate by you as a group.

This much we know - the Fall elections are shaping up to be a referendum on the most divisive
American President in memory. The battle for potential Supreme Court justice Brett Kavanaugh’s
nomination this fall will only amplify the polarity of the political debate that is already deeply
overwrought on both sides. The rising tide of pressure on Donald Trump from the Mueller investigation

shows no sign of ebbing.

Unless the underlying political dynamics are disrupted, the outcomes of these unprecedented events will
still leave us with the same unsatisfactory two front battlefield of the 2016 Presidential election.
Watching these unrelenting, compounding events since our discussion in May, I am guessing we are all
asking the same question: now what? For the 48 percent of Americans who believe Donald Trump

should not be in the White House, perhaps we too want our own “chaos” candidate in 2020?

Should Trump run again, this could be a “break glass” moment for the majority of Americans who don’t

HOUSE_OVERSIGHT_026298
"
IMAGES-010-HOUSE_OVERSIGHT_030140.txt,"The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030140
"
IMAGES-001-HOUSE_OVERSIGHT_011558.txt,"Tension began building in the north in the spring of 1967, initially set off by
Syrian efforts to divert water from the upper reaches of the Jordan River, an
important water source for Israel was well. In a series of exchanges, Syrian
troops on the Golan fired on Israeli tractors in the demilitarized zone below, and
began shelling our argicultural settlements in the Galilee, while we responded
with tank fire and then air power, scrambling our jets and shooting down six
Syrian MiG-21s.

The first indication that we might be headed toward war came as I returned
to university for the spring term, and trouble began brewing in the south. Ben-
Gurion had by now retired as prime minister. His successor was the undeniably
thoughtful, if far less charismatic, Levi Eshkol. During Israel’s Independence
Day parade on May 15, he received word that Egypt had moved thousands of
troops into the Sinai, nearer to the border with Israel. Then, with the Soviets
warned Nasser of what they said were Israeli plans for a preemptive strike
against Syria, he went further expelling the United Nations force put in place
after the 1956 war. On May 23, he closed the Straits of Tiran, Israel’s trading
gateway to the Red Sea and the source of virtually all our oil imports.

I was told to report to Sayeret Matkal the following day, as part of the first
group of reservists called up. When I reached the base, Uzi Yairi, who was now
in charge of the unit, organized us into four teams. He put me in command of
one of them. We were told to prepare ourselves to helicopter into the Sinai,
attack a series of Egyptian air bases and put the runways out of commission. My
team’s target was the base at Gebel Libni, not far from where I’d placed, and
recently failed to defuse, our first intelligence intercept.

With each passing day, war looked more likely, and there was no confidence
we would win without a costly struggle. In 1948, Arab attacks had killed about
170 people in Tel Aviv. Now, word got out that a park in the center of the city
had been set aside to allow for the burial of as many as 5,000. With Israel’s
military commanders pressing Eshkol to take the initiative and launch a
preemptive strike, he delivered a radio address at the end of May, intended to
reassure the country the situation was under control. But due to last-minute,
handwritten changes to his typescript, he faltered while reading it. He sounded

87
HOUSE_OVERSIGHT_011558
"
IMAGES-001-HOUSE_OVERSIGHT_010646.txt,"Filer's Name
Donald J. Trump 30 of 51

Part 2: Filer's Employment Assets and Income

Description attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference #

DT MARKS VANCOUVER LP N/A 1087 None (or less than $1,001) royalties Over $5,000,000
Value reported reflects bank account holding only.

Additional Underlying Asset: license deal with WEST GEORGIA

DEVELOPMENT LIMITED PARTNERSHIP AND WEST GEORGIA

HOLDINGS INC. - value not readily ascertainable,

License holder, Vancouver, Canada; See attached schedule.

STORAGE 106 LLC NIA 1542 $5,000,001 - $25,000,000 $100,001 - $1,000,000
Underlying Assets: commercial real estate

Location: New York, NY

See attached schedule

THE ACCOMPANYING SCHEDULE (PART 2- EXHIBIT A) 1S AN INTEGRAL PART OF THE ABOVE AND SHOULD BE READ IN CONJUNCTION THEREWITH. Gapsin numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reportedis as of April15, 2017.

HOUSE_OVERSIGHT_010646
"
IMAGES-006-HOUSE_OVERSIGHT_022394.txt,"Financial Services

During the four previous years of Hensarling’s
chairmanship, most of the committee’s major bills died
quietly in the Senate, such as efforts to repeal much of
Dodd-Frank (the CHOICE Act), impose substantial reforms
upon the Fed, restructure the CFPB and strip the FSOC of
various powers. That may change now that the House,
Senate and White House will operate with greater
coordination, though the threat of the Senate filibuster
limits what Republicans can achieve. Hensarling notably
has enjoyed a longtime friendship with Vice President-
elect Mike Pence, which will give him a powerful ally in the
White House as the new administration plots its strategy
for financial regulation and nominates key appointees for
the regulatory agencies. Hensarling agrees with Senators
Crapo and Brown on the importance of capital for big
banks, but he wantsto reward banks with relief from
much of Dodd-Frank’s supervisory regime if they agree to
a higher leverage ratio. Hensarling can be expected to
reintroduce his CHOICE Act and Rep. Bill Huizenga’s (R-
Ml) package of Fed reforms (the FORM Act), and to renew
the panel’s aggressive oversight of the CFPB, the FSOC
and other bodies established by Dodd-Frank. Republicans
have also been critical of moves by global regulatory
bodies to set capital and liquidity rules for “systemically
important” banks and insurance companies.

Wells Fargo Scandal. Lawmakersin both the House and
Senate are certain to resume their investigations of Wells
Fargo in the wake of revelationsthat the bank’s
employees created as many as 2 million accounts without
customers’ consent. Hensarling and other Republicans
want to use the scandal to raise questions about the
performance of the CFPB and the Office of the
Comptroller of the Currency (OCC), while Ranking
Member Waters has vowed to offer a bill breaking up
Wells Fargo into smaller companies. On the Senate side,
Ranking Member Brown has used the scandal to focus on
mandatory arbitration provisions in financial contracts,
and will likely propose legislation prohibiting such clauses,
though Sen. Crapo is unlikely to support him. In an
editorial piece in October, Camden Fine, president of the
Independent Community Bankers of America (ICBA),
wrote that he “fully expected” that Wells Fargo’s new
policy of notifying customers whenever a new account is
created in their name, along with “far more stringent
policies, will ultimately become mandatory as
policymakersrespond to the scandal with additional
regulatory burdens on banks of all sizes.”

Oversight of Regulators. As they have in previous years,
the banking committees in 2017 will devote considerable
time to overseeing rules issued by financial regulators.
These will include the still-unfinished interagency rules for
clawing back incentive compensation drafted by the SEC,
the Fed, the FDIC and other agencies; the CFPB’s
controversial new rules for prepaid cards, payday lenders
and mandatory arbitration clauses; the global Financial
Stability Board’s forthcoming regulations for capital held
by large insurers; and the international Basel Committee’s
rules for bank capital, which are expected to be issued by
the end of this year. The Banking Committee must also
schedule hearings for high-level Treasury nominees, as
well as nomineesfor key vacancies at the SEC, CFTC, the
Federal Reserve and the Ex-Ilm Bank, which were never
filled in the current Congress because of lingering
disputes with the Obama administration.

Two Deadlines to Watch: 1)thelargest banks resubmit
their “living will’ resolution plans in May 2017, alwaysa
source of contention for critics of “too big to fail’; 2) the
Terrorism Risk Insurance Act (TRIA) expires at the end of
2017, forcing yet another ideological dispute over
whether the federal backstop program should be
renewed.

EY 22

| Election 2016

HOUSE_OVERSIGHT_022394
"
IMAGES-010-HOUSE_OVERSIGHT_029411.txt,"Case 1:17-cv-03956-PGG Document1-1 Filed 05/25/17 Page 4of5

Mr. Epstein. Instead, she said, they were told that Mr. Krischer would convene a
grand jury to examine the evidence and decide what charges, if any, to bring.

Around that time, the police report said, Mr. Dershowitz met with prosecutors
to share information about the accusers, including statements they had posted on
MySpace.com, the social networking site, concerning use of drugs and alcohol.
According to the report, Mr. Krischer’s office then decided to delay the grand jury

session for several months.

The Palm Beach police grew frustrated, the report said, and on May 1 the
department asked prosecutors to approve warrants to arrest Mr. Epstein.

Chief Reiter also wrote Mr. Krischer questioning “the unusual course that your
office’s handling of this matter has taken” and suggesting that Mr. Krischer
disqualify himself. Chief Reiter refused several requests to be interviewed, and his
spokeswoman would not say explicitly why he had urged the prosecutor to step
aside.

Mike Edmondson, a spokesman for Mr. Krischer, said the state attorney’s office
sometimes sent noncapital cases to grand juries when there were questions about
witness credibility. Mr. Krischer does not recommend a particular charge in such
cases, Mr. Edmondson said, but gives the grand jury a list of possible charges.

Bruce J. Winick, a law professor at the University of Miami, said that while
prosecutors in Florida rarely referred noncapital cases to grand juries, they

sometimes did so with sensitive cases to be extra-cautious.

Mr. Lefcourt said the police were wrong to have released the report so soon,
especially without correcting information that later proved wrong. He cited his
assertion that one accuser had lied about her age, adding that she had also been
arrested on drug charges and had been fired by her employer for stealing.

“What I’m trying to focus on,” Mr. Lefcourt said, “is, What’s motivating the
selective and misleading release of information to the public?”

A version of this article appears in print on , on Page A19 of the New York edition with the headline:
Questions of Preferential Treatment Are Raised in Florida Sex Case

HOUSE_OVERSIGHT_029411
"
IMAGES-009-HOUSE_OVERSIGHT_026809.txt,"The geopolitical outlook: Growing regional tensions
will not get any better in 2016

THE SECTARIAN BALANCE OF POWER IN THE MIDDLE EAST

E
bc J
| LEBANON—w

MOROCCO — JORDAN—~

as :

re

Deutsche Bank Francis J. Kelly
Global Public Affairs francis.j.kelly@db.com 15

HOUSE_OVERSIGHT_026809
"
IMAGES-008-HOUSE_OVERSIGHT_025949.txt,"From: Joscha 82h

Sent: 7/23/2016 7:02:30 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re: Mechanisms for learning

Importance: — High

Some thoughts I meant to send back for a long time:

no worry,  ifiunderstand correctly you are suggsting there are layers 1 through N . lets cal them L 1 -

Ln. there aretimesT 1-Tn/ and then conjecture that changing the time . correlations ( by genetic swtch or
other method. , you might be able to make blacks smarter by changing the time for motor layer

development and changing the time for other layers. .). like telemeres for the cell , are their equivalents for
the layers. . as you talked about culling the unused neurons in each layer, each neuron in each layer would get
dfferent ( kill yourself if you are not being used instructions ).

Exactly. I looked up the statistics, black kids in the US have slower cognitive development (and never catch
up), which the study of course attributed to social factors without any evidence, and they had faster motor
development! I suspect this means their brains are slower at learning high-level concepts, because the low-level
structures are optimized for a shorter time. But they will keep the lead in motor development, because it is
easier to learn, and they have more time and attention to practice once they get the structures in place.

It could also be that they have an additional set of learning directives in place that adapts them better to a more
hunting/running style of life, whereas the Europeans had to adapt for identifying long-term seasonal patterns,
delayed gratification for agriculture etc.

and CONCEPTS could be layer to layer communicaiton. . are gender differences also a matter of time , and
structure of interactions. .

I suspect gender differences are mostly motivational, i.e. we have a reward system for all the different social
and cognitive needs, which makes us receive different kinds of pleasure and pain, thereby pay attention and
learn. You cannot learn what does not attract your attention. Women tend to find abstract systems, conflicts and
mechanisms intrinsically boring. Most women in computer science do not write programs because they enjoy
solving puzzles, but because they want to help people, get approval etc. There are almost no women in math,
because it does not help people or yield social attention.

Men tend to find elaborate social relations boring. If there is no pleasure in observing and empathizing with
people, one will not have good social cognition.

1Q is not the only meaningful difference. Chinese pay an inordinate amount of attention to authority. I suspect
historically., the authorities tended to kill them a lot if they did not. Jews tend be intellectually independent and
anti-authoritarian, which might make them creative and inventive in ways that are hard to find in Asia.

At the moment, I think speed/quality of brain development plus motivational system are the key to
understanding both mind and individual differences. Important part of human language might be the result in a
motivational need to discover/invent grammatical structure, which as a side effect makes us interested in music.
It would mean that Chomsky’s life long hypothesis, that people have a special circuit for grammatical language,
is wrong. They might be GENERAL learners, just like Gorillas, but with a strong motivational urge to build

HOUSE_OVERSIGHT_025949
"
IMAGES-011-HOUSE_OVERSIGHT_031617.txt,"David Ingram
Correspondent

Reuters News

Thomson Reuters

Office:
Mobile:

david.ingram@thomsonreuters.com

Reuters.com

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_031617
"
IMAGES-006-HOUSE_OVERSIGHT_020583.txt,"124

Exchanges

The Chinese government organizes and pays for exchanges in which participants travel
from the United States, divulge technical knowledge through scripted venues, are briefed
on China’s technology interests, return to their US base to collect more information, and
repeat the process. China has a program for what it euphemistically calls “short-term visits”
by co-opted foreigners, which, stripped of its rhetoric, is indistinguishable from state-run
espionage.

Cooperation organizations and advocacy groups

Many Sino-US S&T “cooperation” organizations in the United States facilitate these transfers
and have individual memberships of hundreds to thousands. The figure scales to some
ninety such groups worldwide. Members usually are expatriate Chinese, although China is
expanding its recruitment of nonethnic Chinese. One significant example of a Sino-US S&T
cooperation organization is Triway Enterprise, Inc. (=ZEI®ABRAS Al), an “external training
institute” set up under the auspices of the State Administration of Foreign Experts Affairs

in Falls Church, Virginia, with branches in Beijing and Nanjing. According to the Chinese
version of the website, the company “since 1993 has been putting its energy into promoting
bilateral exchange and cooperation between China and the US in the fields of S&T, culture,
education and management with great success.”§

China S&T advocacy groups in the United States declare loyalty to China and acknowledge
a “duty” to support China’s development. Members visit China to lecture, guide Chinese
technical projects, transfer technologies, receive shopping lists from Chinese entities, and
engage in other kinds of “technical exchanges.” Many of them sit on Chinese government
boards that decide the future of China’s national technology investment. Another
example of a China S&T advocacy group is the Silicon Valley Chinese Engineers Association
(EAE LEI), which describes itself as “a non-profit professional organization formed
mainly by the professionals in the Bay Area from mainland China with a mission to
promote professionalism and entrepreneurship among members,” which is achieved by
“organizing a variety of professional activities and establishing channels to allow members to
engage in China’s rapid economic development” [emphasis added].?

Chinese government tech transfer offices, facilitation companies, and career transfer
personnel, some of whom are posted to China’s diplomatic offices, support and direct
the US-based groups. In China, hundreds of government offices are devoted entirely to
facilitating foreign transfers of technology “by diverse means.”

Joint research

The preferred method of establishing a research beachhead in the United States is through
the formation of a joint research center with a prominent US university. One example

Technology and Research

HOUSE_OVERSIGHT_020583
"
IMAGES-004-HOUSE_OVERSIGHT_016818.txt,"communicate their thoughts to one another. The aim is to present a mosaic of views
which will help make sense out of this rapidly emerging field.

I asked the essayists to consider:

(a) The Zen-like poem “Thirteen Ways of Looking at a Blackbird,” by Wallace
Stevens, which he insisted was “not meant to be a collection of epigrams or of ideas, but
of sensations.” It is an exercise in “perspectivism,” consisting of short, separate sections,
each of which mentions blackbirds in some way. The poem is about his own imagination;
it concerns what he attends to.

(b) The parable of the blind men and an elephant. Like the elephant, AI is too big
a topic for any one perspective, never mind the fact that no two people seem to see things
the same way.

What do we want the book to do? Stewart Brand has noted that “revisiting
pioneer thinking is perpetually useful. And it gives a long perspective that invites
thinking in decades and centuries about the subject. All contemporary discussion, is
bound to age badly and immediately without the longer perspective.”

Danny Hillis wants people in AI to realize how they’ ve been programmed by
Wiener’s book. “You’re executing its road map,” he says, and you just don’t realize it.”

Dan Dennett would like to “let Wiener emerge as the ghost at the banquet. Think
of it as a source of hybrid vigor, a source of unsettling ideas to shake up the established
mindset.”

Neil Gershenfeld argues that “stealth remedial education for the people running
the “Big Five” would be a great output from the book.”

Freeman Dyson Freeman, one of the few people alive who knew Wiener, notes
that “Zhe Human Use of Human Beings is one of the best books ever written. Wiener got
almost everything right. I will be interested to see what your bunch of wizards will do
with it.”

The Evolving AI Narrative

Things have changed—and they remain the same. Now AI is everywhere. We have the
Internet. We have our smartphones. The founders of the dominant companies—the
companies that hold “the whip that lashes us’—have net worths of $65 billion, $90
billion, $130 billion. High-profile individuals such as Elon Musk, Nick Bostrom, Martin
Rees, Eliezer Yudkowsky, and the late Stephen Hawking have issued dire warnings about
AI, resulting in the ascendancy of well-funded institutes tasked with promoting “Nice
AI.” But will we, as a species, be able to control a fully realized, unsupervised, self-
improving AI? Wiener’s warnings and admonitions in Zhe Human Use of Human Beings
are now very real, and they need to be looked at anew by researchers at the forefront of
the AI revolution. Here is Dyson again:

Wiener became increasingly disenchanted with the “gadget worshipers” whose
corporate selfishness brought “motives to automatization that go beyond a
legitimate curiosity and are sinful in themselves.” He knew the danger was not
machines becoming more like humans but humans being treated like machines.
“The world of the future will be an ever more demanding struggle against the
limitations of our intelligence,” he warned in God & Golem, Inc., published in

15

HOUSE_OVERSIGHT_016818
"
IMAGES-011-HOUSE_OVERSIGHT_030509.txt,"Date: Wednesday, November 3 2010 03:07 PM
Subject: Re: Quick question
From: Jeevacation <jeevacation@gmail.com>

2: aa

As always , whatever you want!!

Sorry for all the typos .Sent from my iPhone

On Noy 3, 2010, at 3:59 PM, x wrote:

> Hmm perhaps. But I was thinking that I maybe wanted a speaker system for my room and bathroom..?!?
> ------Original Message------

> From: Uncle F Jeffrey Epstein

> To:
> Subject: Re: Quick question

> Sent: Nov 3, 2010 10:43 AM

>

> Do you want more free city for chanukH?

>

> Sorry for all the typos .Sent from my iPhone

>
> On Nov 3, 2010, at 3:36 PM, [in wrote:
>

>> Hey Unc,

>> Quick Question...do u think Larry Summers would come to Trinity to speak about Obama, the economy, the
government in general, etc?

>> Sent via BlackBerry from T-Mobile

>

>

> Sent via BlackBerry from T-Mobile

HOUSE_OVERSIGHT_030509
"
IMAGES-001-HOUSE_OVERSIGHT_012051.txt,"11/14/2017 Viking Global to Back Rockefeller Wealth Firm Led by Fleming - Bloomberg

He said a deal to purchase the Miami Marlins baseball team that he was involved in earlier this year was an example of the sort of investment
the firm’s clients might be interested in.

A private-equity fund managed by Viking will own the majority of the business, while Fleming and others in management will invest, he said.

A trust representing the broader Rockefeller family will remain an owner, though it’s selling some of its stake as part of the transaction.

Rockefeller & Co., which began 135 years ago as the family office of oil baron John D. Rockefeller, oversees about $10.9 billion for families and
other institutional investors, and advises on another $5.3 billion, according to the statement. Fleming said that Viking’s capital will be used to

expand these businesses, as well as building an advisory arm.

“The industry is very fragmented,"" Fleming said. For independent companies that combine wealth and asset management, as well as advisory,

“there’s room, if you do it well, to really generate some market share, especially for a firm with a brand as good as Rockefeller,"" he added.

Viking Global, which was founded by Andreas Halvorsen, has about $25 billion under management, making it one of the biggest hedge funds in
the world.

The Rockefeller family office was advised by Ardea Partners, an investment bank formed last year by Goldman Sachs Group Inc. veteran Chris
Cole and a handful of former colleagues. Willkie Farr & Gallagher LLP provided legal advice, according to the statement. Paul, Weiss, Rifkind,
Wharton & Garrison LLP was legal adviser to Viking Global.

The Wall Street Journal reported on Fleming’s new role earlier Wednesday.

https:/Awww.bloomberg.com/news/articles/201 7-10-04/viking-global-to-back-rockefeller-wealth-firm-led-by-fleming 2/4

HOUSE_OVERSIGHT_012051
"
IMAGES-007-HOUSE_OVERSIGHT_022905.txt,"of Nowak’s research has to do with trying to “describe
cancer mathematically.” (Epstein preempts Nowak’s
explanation : “Think of cancer the same way as you
think of a terrorist group. The NSA has been able to
thwart a great number of terrorism acts by intercepting
communication signals from one terrorist to another.
That same dynamic, a form of signal intelligence, of
finding a terrorist in Europe, can be used to intercept
communication between cancer sells. Cancer cells
merely communicate in protean code rather than
electronic code. If you can decode what the signals are
saying you can jam those signal between terrorist
calls—essentially wipe out their cell phones. Likewise if
you can decode biological signals you can jam them too,
that’s the holy grail.’’)

Then Richard Axel, a Nobel prize winner in
physiology. Then Ron Baron who has $26 billion under
management in his Baron Fund. Then Josh Harris, the
co-founder of Apollo Global Management ($164 billion
under management) and owner of the New Jersey Devils
and the Philadelphia 76ers.

What goes on at Epstein’s house confirms
everyone’s worst fears about power and the powerful:
they are all in a secret and shared conversation. The
world runs on insider information. And, certainly, inside
Epstein’s dining room, it remains a man’s world—a rich
man’s world. Indeed his salons tend to offend most
every aspect of reconstructed gender and political
sensibilities.

HOUSE_OVERSIGHT_022905
"
IMAGES-008-HOUSE_OVERSIGHT_025791.txt,"Thank You,
Patricia Gonzalez
The National Enquirer

Office

HOUSE_OVERSIGHT_025791
"
IMAGES-006-HOUSE_OVERSIGHT_021845.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

22

you aS a practice to drop the footnote; was it in
connection with this case or some other circumstance?

A. It was -- as I recall, it was several years
earlier. I don't know. Maybe a year or two earlier
than this particular litigation, from what I remember.
If I looked at some of my other pro bono cases around
the country, we might be able to get a sharper time
frame on that. I've done pro bono crime victims in a
lot of cases. And the dean just thought it might be
useful to have that kind of a footnote to avoid any
misunderstanding.

Q. Would you agree with me that in order to
allow your name to be listed as counsel on this
pleading, that you were required to have a sufficient
basis for the allegations based on what you Knew as of
December 30th, 2014?

A. Sure. I think that's fair. Obviously, I
imagine one of the issues we are going to discuss here
today is what is a sufficient basis for filing a
pleading like that. So, yeah, in general, of course, we
had to have a sufficient basis for filing something like
this and I firmly believe that we did.

Q. And to put a point on my question, the way in
which to measure the knowledge is as of December 30th,

2014, so the facts that came to your attention after

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021845

"
IMAGES-012-HOUSE_OVERSIGHT_032818.txt,"From: Weingarten, Reid [ia

Sent: 10/4/2018 3:32:39 PM
To: J [jeevacation@gmail.com]
Subject: RE: Re:

Importance: — High

But isn’t the disclosure that fred shtupped him with money versus his bullshit story of self-made hero valid and

important?

From: J [mailto:jeevacation@gmail.com]
Sent: Wednesday, October 03, 2018 9:06 AM
To: Weingarten, Reid

Subject: Re:

im fair. and not his defender. but even the explanations on line were WAY wrong. and based on silliness of
understandings.

On Wed, Oct 3, 2018 at 9:02 AM Weingarten, Rcid i vrotc:

Had a gut that's where you would come out

Sent from my BlackBerry 10 smartphone.

From: J

Sent: Wednesday, October 3, 2018 7:34 AM
To: Weingarten, Reid

Subject: Re:

fred gave him 15k as a3 year old only . however ( written 200k in ""todays dollars"" ) then they compound
their silliness, stating that he was a millonair at age 8.? all silly, . if fred put 2k in treasuries the same

year ,and didnt invest it it would be worth 1 million today. instead he invested in real estate. taxes on
estates and gigts are taxed on the value of what was transferred not the underlying thing. ex if you own 10
percent of a partnership interest ina 1 million builidng that cannot be sold for 20 years. what is the value of
your interest. not 10 percent of 1 million as you only own a ltd partnership right. maybe 2 percent. its all
legal

On Wed, Oct 3, 2018 at 7:21 AM Weingarten, Reid TTT «01:

Anything surprise you?
Sent from my BlackBerry 10 smartphone.

From: J

Sent: Tuesday, October 2, 2018 11:45 PM
To: Weingarten, Reid

Subject: Re:

Florida

On Tue, Oct 2, 2018 at 9:58 PM Weingarten, idi wrote:

Reading the nytimes trump tax story...so wish | was with you right now...so where are you?

HOUSE_OVERSIGHT_032818
"
IMAGES-011-HOUSE_OVERSIGHT_031171.txt,"8 The Virgin Islands Daily News

Justice Department
opens Epstein probe

The Associated Press

FORT LAUDERDALE, Fla. —
The Justice Department has opened
an investigation into federal prosecu-
tors’ handling ofa plea deal in whicha
wealthy, politically connected Virgin
Islands financier avoided potentially
severe penalties for sexually abusing
teenage girls in favor of a relatively
light state conviction in Florida.

The — depart-
ments Office
of Professional
Responsibility
wrote in a letter
Wednesday to
U.S. Sen. Ben
Sasse, R-Nebras- he
ka, that it would
examine whether wash =
professional mis- Jeffrey Epstein
conduct occurred in the highly publi-
cized case of Jeffrey Epstein. The let-
ter cited a series of recent articles by
the Miami Herald that focused new
attention on how the deal came about.

Sasse, a member of the Senate
Judiciary Committee who has twice
asked the Justice Department to in-
vestigate the case, welcomed the
news.

“Jeffrey Epstein is a child rapist
and there’s not a single mom or dad in

America who shouldn’t be horrified
by the fact that he received a patheti-
cally soft sentence,’ Sasse said in an
email. “The victims of Epstein’s child
sex trafficking ring deserve this inves-
tigation — and so do the American
people and members of law enforce-
ment who work to put these kinds of
monsters behind bars.”

Epstein, who also has homes in
Palm Beach, Fla., and New York,
lives on Little St. James Island off St.
Thomas.

Epstein, now 66, reached a non-
prosecution deal in 2008 with then-
Miami U.S. Attorney Alexander
Acosta’s office to secretly end a fed-
eral sex abuse investigation involving
at least 40 teenage girls that could
have landed him behind bars for life.
He instead pleaded guilty to state
charges, spent 13 months in jail, paid
settlements to victims and is a regis-
tered sex offender.

Acosta, now President Donald
Trump’s labor secretary, has defend-
ed the deal as appropriate but has not
commented since the recent round of
stories. He was asked about the case
during his Senate confirmation hear-
ings for the Cabinet post.

Some of his accusers are pursuing
a separate legal effort to nullify the
plea agreement.

HOUSE_OVERSIGHT_031171
"
IMAGES-003-HOUSE_OVERSIGHT_015871.txt,"00 181

But there is a second way of counting. Take your apples and put each
next to an orange. If they match up, you can easily see they are equal in
number. “Look,” I say, “I have the same number of apples as oranges.” This
method is more primitive and does not require the concept of numbers,
but it is very useful. If ’m a shepherd I can hold a set of counters in a bag,
one for each sheep. To ensure all my flock are gathered in for the night I
drop one counter into the bag as each sheep enters the enclosure. I don't
need to give the counters number names.

The Munduruku tribe, from the Amazon rainforest, have no concept
of number names beyond five. Their counting system simply goes one,
two, three, four, five, many. Yet this second way of counting allows them
to function successfully, deciding whether two groups of things have
the same number of elements, even if there are more than five of them.
For example, if they need to determine if they have enough spears for a
hunt, each person simply stands next to their spear. If everyone has one,
they're ready. If not, then the empty handed Munduruku simply make
one. No need for pesky numbers or mathematics lessons.

This second way of counting is particularly useful when tackling
infinity because we are not sure what infinity is. Treating it the same way
the Munduruku treat the number ‘many’ is the safest thing to do. The
first question we would like to answer is whether all infinite things are
the same.

iil i

Spears and Hunters

HOUSE_OVERSIGHT_015871
"
TEXT-002-HOUSE_OVERSIGHT_032208.txt,"﻿To: lawkrauss ; 
Subject: lawkrauss -- 2017/07/11
Sent: 07/11/2017 11:42:34 PM



lawkrauss
07/11/2017 10:42:34 PM 
ok.. in france now.. we can talk next week.. after we deal with trump. :) Thanks for the driver! "
IMAGES-010-HOUSE_OVERSIGHT_029377.txt,"budget items would we forgo to make
up the m12 billion gap if this
assistance disappears?

e They're the only ones who can
provide us with F-35 jets, the best
aircraft in the world.

¢ These are mutually beneficial
relations. The US also benefits from
the unprecedented cooperation
between our intelligence communities.
And so do we.
We never expected, and will never ask
others to fight for us — yet the US has
deployed advanced radar systems in
Israel to provide early warning against
long-range missiles, and holds military
exercises on our soil and in the
Mediterranean , preparing an American
response in case Israel has to defend
itself against missile attacks from Iran.

HOUSE_OVERSIGHT_029377
"
IMAGES-002-HOUSE_OVERSIGHT_013691.txt,"as importantly, far apart initial values could be found close together in the limit set.
This behavior was called “sensitivity to initial conditions” by David Ruelle (1978;
Ruelle and Takens, 19771). It is noteworthy, however, that over a range of values of
the parameters, the overall pattern of the orbits of the Lorenz attractor results in
characteristic geometric pictures as well as invariant statistical descriptors.
Qualitative and quantitative global similarities were gained while specific solutions
were lost in these “strange attractors” of nonlinear systems. Analog computer
simulation of a simpler set of equations inspired by nonlinear chemical reaction
kinetics led to the discovery by Rdéssler (1976) of another early and generic strange
attractor combining sensitivity to initial conditions and characteristic geometries and

measures.

It was the Russian mathematicians, A.N. Kolmogorov (1957), Sinai (1959)
and V.I. Arnold (Arnold and Avez, 1968), the French mathematicians, Rene Thom
(1972) and David Ruelle (1978) and the U.C. Berkeley mathematicians, Steve
Smale (1967) and his student, Rufus Bowen (1975), and their associates who
gathered together these and other related computational discoveries and embedded
them in a qualitative theory of nonlinear differential equations, using a variety of
formalisms, including point set and differential topology, geometry, analysis and
ergodic (having an invariant statistical description) measure theory that formally
established the fundamentals for research in nonlinear dynamical systems. Here a
dynamical system refers generally and simply to the components and nonlinear
processes (transformations) that move points (values) in discrete (“map”) or
continuous (“differential equation”) time around in an appropriately defined space.
The phrase, “nonlinear transformation” in this context does not imply easily solvable
curved functions, such as those representing the sigmoid kinetic or threshold
functions of enzymes and neuronal networks or those that smoothly log transform
the amplitudes of auditory or other sensory modalities in man, but rather allude to

expressions containing products, powers and functions of the computational and/or

experimental variables x,, such as x,x,, (x,)° Orsin(x) .

191

HOUSE_OVERSIGHT_013691
"
IMAGES-005-HOUSE_OVERSIGHT_019804.txt,"316 | Notes to pages 113-121

109 first live interview in Moscow: Snowden met with James Bamford, the author
of the 1982 book The Puzzle Palace, in Moscow in June 2014. Bamford, “Edward
Snowden.”

CHAPTER 13 The Great Divide

113. “That moral decision”: Edward Snowden, statement, http://wikileaks/statement
-from-Edward-Snowden.
114 “Sitting on his unmade bed”: Packer, “Holder of Secrets.”
114 This powerful narrative: See Greenwald, No Place to Hide, 248-54; Snowden,
interview with Williams.
114 “There was no question”: Emily Bell, “Snowden Interview: Why the Media Isn’t
Doing Its Job,” Columbia Journalism Review, May 10, 2016.
115 When two NSA analysts: “Claim US Spy Caught with Secrets,” Los Angeles
Mirror, Aug. 2, 1960, 1. Also see Rick Anderson, “Before Edward Snowden,”
Salon, July 1, 2013.
115 “man up”: Interview with John Kerry, CBS This Morning, May 28, 2014.
115 By the Lawfare Institute’s count: https://www.lawfareblog.com/snowden
-revelations.
116 British cyber service GCHQ: RT television report, “NSA, GCHQ Targeted
Kaspersky, Other Cyber Security Companies,” June 22, 2015, http://www.rt.com
/asa/268891-nsa-gchq-software-kaspersky/.
116 six government employees: Matt Apuzzo, “C.LA. Officer Is Found Guilty in Leak
® Tied to Times Reporter,” New York Times, Jan. 26, 2015. The notable exception ®
to the policy of seeking imprisonment of intelligence workers found guilty of
passing classified information to journalists is the extraordinary case of the ex-
CIA director General David Petraeus. Petraeus had given classified information
from his personal notebooks to his mistress and biographer, Paula Broadwell.
Although none of this information appeared in her 2012 biography, All In: The
Education of Davis Petraeus, he had violated his oath to protect this informa-
tion. Yet in a 2014 deal with the Justice Department, Petraeus was allowed to
plead guilty to a misdemeanor charge and sentenced to two years’ probation and
a $100,000 fine. See Eli Lake, “Petraeus, Justice, and Washington’s Culture of
Leaks,” Bloomberg View, March 4, 2015.
117 he posted about it: Snowden wrote in chat rooms on the Ars Technica site
between May 2001 and May 20712. His posts are quoted by Mullin, “NSA Leaker
Ed Snowden’s Life on Ars Technica.”
117 “an act of civil disobedience”: Mayer, “Snowden Calls Russian-Spy Story
‘Absurd’ in Exclusive Interview.”
117 Ben Wizner, a lawyer: Wizner called his representation of Snowden the “work of
a lifetime.” Hill, “How ACLU Lawyer Ben Wizner Became Snowden’s Lawyer.”
118 “We've crossed lines”: Snowden quoted by Bamford, “Edward Snowden.”
119 “Snowden a whistleblower”: Cheryl Arvidson, “Distrust of Government Appar-
ent in Snowden Case,” Leader's Edge, Oct. 2013.
119 “they can trust”: “Beyond Distrust: How Americans View Their Government,”
Pew Research Center, Nov. 23, 2015.
119 “Thanks to one man’s”: Rebecca Shabad, “Former Rep. Ron Paul Launches Peti-
tion for Snowden Clemency,” Hill, Feb. 13, 2014.

| | Epst_9780451494566_2p_all_r1.indd 316 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019804
"
IMAGES-002-HOUSE_OVERSIGHT_013849.txt,"Stop asking for opinions and start proposing solutions. Begin with the small things. If someone is going
to ask, or asks, “Where should we eat?” “What movie should we watch?” “What should we do tonight?”
or anything similar, do NOT reflect it back with, “Well, what do you want to ... ?” Offer a solution. Stop
the back-and-forth and make a decision. Practice this in both personal and professional environments.
Here are a few lines that help (my favorites are the first and last):

“Can I make a suggestion?”

“IT propose ...”

“Td like to propose ...”

“I suggest that ... What do you think?”

“Let’s try ... and then try something else if that doesn’t work.”

» LIFESTYLE DESIGN IN ACTION

I’m a musician who got your book because Derek Sivers at CD Baby recommended it. Checking
Pareto’s Law I realized that 78% of my downloads came from just one of my CDs and that 55% of my
total download income came from only five songs! It showed me what my fans are looking for and
allowed me to showcase those on my web site. Downloads are the way to go. iTunes sells the song and
CD Baby direct deposits it to my account. Fully automated once the recording is done. There are some
months I can live off download income. Once I finish paying off debt, it should be no problem to travel
as an artist and create new fans all over the world and have a cyber income stream.

—VICTOR JOHNSON

As for “outsourcing” your banking, any company that needs to take checks (cheques) should consider
a lock box solution. Just about any bank that does business banking offers it. All checks go to a PO box
at the bank, the bank processes the checks and deposits them, and according to your instructions can
send you a file of all the checks that are deposited. Normally this can be done in either a flat, Excel or
other file type that can interface with any accounting systems from Excel, to Quicken to SAP. Quite cost
effective.

—ANONYMOUS

6

The Low-Information Diet

=» CULTIVATING SELECTIVE IGNORANCE

HOUSE_OVERSIGHT_013849
"
IMAGES-005-HOUSE_OVERSIGHT_019743.txt,"Off to Moscow | 255

to Terminal E. It is a nine-minute walk through the transit passage-
way. Snowden, though, had one good reason for not going to Ecua-
dor, even if Russia had permitted it. He believed that he would be
vulnerable to rendition by the U.S. government in Ecuador. “If they
[the U.S. government] really wanted to capture me, they would’ve
allowed me to travel to Latin America, because the CIA can oper-
ate with impunity down there,” he explained in the previously cited
interview with Katrina vanden Heuvel, the editor of The Nation, in
2014. He had already discussed the likelihood of his being captured
in Ecuador with Assange before his departure for Moscow. He later
told Alan Rusbridger, the editor of The Guardian, that he considered
himself at risk in Latin America. So why would Snowden, who told
Greenwald that his “first priority” was his own “physical safety,”
leave the comparative safety of Russia to put himself in jeopardy in
Ecuador?

He had not obtained a visa to Ecuador at its consulate in Hong
Kong, as Kucherena confirmed. The Ecuador destination was, as we
have seen, a cover story put out by Assange and his associates, and it

© worked with the press. ®

Over a hundred reporters and photographers scrambled aboard
Aeroflot Flight SU150 to Cuba the next morning in response to this
anonymous tip on a website, but Snowden was not aboard that flight
and was not seen in Terminal E. By the time the plane landed in
Cuba, Aeroflot denied that anyone named Snowden had ever been
booked on any of its flights to Cuba, a denial it continued to repeat to
every reporter who queried the airline for the next six weeks.

The first news that Snowden was still in Russia came on July 1,
2013. A statement posted on the WikiLeaks website—and signed
“Edward Snowden”—after thanking “friends new and old” for his
“continued liberty,” accused President Obama of pressuring “leaders
of nations from which I have requested protection to deny my asy-
lum petitions.” It added, “This kind of deception from a world leader
is not justice, and neither is the extralegal penalty of exile. These are
the old, bad tools of political aggression.” In fact, Snowden had not
suffered a “penalty of exile,” because his passport was still valid for
returning to the United States, but that was not an option for him as
the statement made clear.

| | Epst_9780451494566_2p_all_r1.indd 255 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019743
"
IMAGES-002-HOUSE_OVERSIGHT_014061.txt,"82 CASSELL ET AL. [Vol. 104

Manson case>.”!?”7 Thus, Black’s Law Dictionary does not help resolve the
dispute as to which of the two meanings should be used, as there are clearly
differing meanings. While OLC’s reading may be a permissible one, so is a
pro-victim reading.

OLC also tums to the CVRA’s legislative history to bolster its
conclusion. But, here again, its analysis is misleading. OLC relies on a
passage from Senate floor colloquy between Senators Jon Kyl and Dianne
Feinstein regarding the CVRA’s scope. In OLC’s recounting of the
legislative history, the floor statements “emphasize that the nght to confer
relates to the conduct of criminal proceedings after the filing of charges.”!78
For instance, OLC quotes Senator Kyl stating that “[u|nder this provision,
victims are able to confer with the Government’s attorney about
proceedings after charging.”'*°

This is a truncated and deceptive description of the legislative history,
so much so that Senator Kyl sent an angry letter to Attorney General Eric
Holder complaining about the distortion. On June 6, 2011, the Senator
wrote to “express [his] surprise that [OLC is] so clearly quoting [his]
remarks out of context.” Senator Kyl then went on to observe that the
colloquy began by noting that the nght to confer “is intended to be
expansive.”'*! The Senator further discussed various “examples” of when
the right to confer applied, including “any critical stage or disposition of the
case. The right, however, is not limited to these examples.”'*? It was
against that backdrop that Senator Kyl gave the example of conferring
about proceedings “after charging.”

In his letter to Attommey General Holder, Senator Kyl also noted that he

had:
made clear that crime victims had rights under the CVRA even before an indictment is
filed. For example, ... I made clear that crime victims had a right to consult about

both ‘the case’ and ‘case proceedings’—1.e., both about how the case was being
handled before being filed in court and then later how the case was being handled in
court ‘proceedings.’ !?3

Senator Kyl further commented that he had discussed the CVRA’s potential
application in grand jury proceedings, an application that required the Act

7 BLACK’s LAW DICTIONARY, supra note 59, at 244.

°8 OLC CVRA Rights Memo, supra note 2, at 9.

°° Td. (emphasis added) (quoting 150 Conc. REc. 7302 (2004) (statement of Sen. Jon
Kyl) (internal quotation marks and citation omitted).

3° Letter from Jon Kyl, supra note 3.

31 Td. (quoting 150 Conc. Rac. $4260, $4268 (daily ed. Apr. 22, 2004) (statement of
Sen. Dianne Feinstein)).

Td.

33 Id.

HOUSE_OVERSIGHT_014061
"
TEXT-001-HOUSE_OVERSIGHT_029269.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 5/4/2016 6:28:25 PM 
To: soon yi previn 
Subject: Fwd: woody and deadline 
??? 
----------Forwarded message---------- 
From: Lisa New < 
Date: Wed, May 4, 2016 at 2:25 PM 
Subject: woody and deadline 
To: Jeffrey Epstein <jeevacation@gmail.com> 
Dear Jeffrey, 
Woody has received from his lawyer some questions I asked in in response to the agreement Irwin Tenenbaum 
sent me... .1 found that that agreement generous and reasonable (!), and I'm excited to go forward, but I do need 
those clarifications. We can absolutely agree that we will not give Woody larger or more important billing than 
Bill Clinton or Joe Biden, and that I'd like to come to him to renew our agreement after five years. 
The Harvard week of content in which Woody will appear, if we can sign this, needs to be edited in the next 
week-10 days. We are out of time, which is why I'm writing 
The television show has been picked up by American Public Television, they will distribute nationally, and 
they've asked for another 5 episodes. I so want Woody to be one of those. 
I'd like to see the haiku written by computer. Haiku is not that hard. I'd like to see an elegy written by 
computer. 
Lisa 
Elisa New 
Powell M. Cabot Professor of American Literature 
Harvard University 
148 Barker Center 
12 Quincy Street 
Cambridge, MA 
02138 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
HOUSE OVERSIGHT 029269 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029270 
"
TEXT-001-HOUSE_OVERSIGHT_031426.txt,"From: Nicholas Ribis 
Sent: 3/28/2019 7:41:52 PM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: The Washington Post: How Donald Trump inflated his net worth to lenders and investors 
For ur info 
How Donald Trump inflated his net worth to lenders and investors 
The Washington Post 
Trump's 'statements of financial condition' are a key component of inquiries by House Democrats and New 
York investigators. Read the full story  
Shared from Apple News 
Sent from my iPhone 
HOUSE OVERSIGHT 031426 
"
TEXT-001-HOUSE_OVERSIGHT_027244.txt,"Source Entry: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2017-06-3011. 
pn 2017-06-30 at 07.39.58.ichat 
Service: IMessage 
Start Time: 06/30/17 04:39:58 AM (520515598) 
End Time: 06/30/17 11:08:53 AM (520538933) 
Last Message ID: 6948 
Chat Room: 
Participants: jee, 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
Sender: 
Time: 06/30/17 04:39:58 AM (520515598) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 2CBBCDC8-B055-454F-AF57-486D7BEC81CC 
Message: Thank you for dinner last night. 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 05:23:23 AM (520518203) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 8B57A783-4622-4B47-BA5D-D8D116D10EA8 
Message: Why are you being nice? 
Sender: 
Time: 06/30/17 05:48:02 AM (520519682) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: F776158D-EEBF-4B69-B828-3C44977C1D09 
Message: I guess because I'm in desperate need of niceness since my daughter isn't 
nice. 
Sender: 
Time: 06/30/17 05:48:25 AM (520519705) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 7917EB5D-228B-4B24-9AF8-7EB2A692325C 
Message: Did you think it was suspicious? Did you think I wanted something?;) 
HOUSE OVERSIGHT 027244 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 05:49:28 AM (520519768) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: F6AF3344-EE11-4631-9931-003910DA1EDF 
Message: Not yet 
Sender: 
Time: 06/30/17 05:51:30 AM (520519890) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 3CO23FC4-793A-429D-B5B2-A8F836384B19 
Message: Contrary to what you and Woody think, I am a nice person.;) 0 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 05:52:15 AM (520519935) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 9DBA1BEF-5EEF-4536-A787-28593AA5E459 
Message: Glad to see you are having your period ----still 
Sender: 
Time: 06/30/17 05:53:14 AM (520519994) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 72CB372B-081B-4AA1-8FD5-E2187FD19A77 
Message: I am not. You sound like Donald Trump and that's not a good thing. 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 05:53:49 AM (520520029) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 94583E5A-58D3-4057-8714-1B3OFE39EF72 
Message: Agrreed 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 05:53:55 AM (520520035) 
HOUSE OVERSIGHT 027245 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: F3214219-0E3A-4F48-AFFA-BB1647D3C410 
Message: sorry 
Sender: 
Time: 06/30/17 05:54:33 AM (520520073) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: B63BC70C-14EF-4624-AA43-E166E20479EB 
Message: There's nothing to admire about Donald Trump. 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 05:55:12 AM (520520112) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 67AD3438-60C5-4808-8366-2AE57A9A9C74 
Message: Agreed that he is stupid 
Sender: ___________________ 
Time: 06/30/17 05:55:13 AM (520520113) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 33882059-D840-465D-8B44-6235CDDFC4AA 
Message: The nerve of him accusing the woman of being in the low IQ club when he is the 
king of the low IQ club. 
Sender: 
Time: 06/30/17 05:56:40 AM (520520200) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 0508275E-9ADF-48EC-8460-E846A3DOE66C 
Message: What president has time to tweet about things like this. He should have more 
important things on his plate and he shouldn't dignify himself with these stupid 
tweets. It should be beneath him but it's not. It's all very disappointing. 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 06:19:14 AM (520521554) 
Flags: 1085445 
HOUSE OVERSIGHT 027246 
Is Read: No 
Is Invitation: No 
GUID: C559264C-8C72-47FC-BCOE-2851168144E2 
Message: which three days will you be in cap entibbe\ 
Sender: e:jeeitunes@gmail.com 
Time: 06/30/17 09:55:34 AM (520534534) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 739736BA-D7FA-456F-AF04-8EDO1DA8DADE 
Message: Tell Woody Suki has a younger sister 
Sender: 
Time: 06/30/17 10:06:06 AM (520535166) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 3026DD97-E101-4CED-BE30-47B92C524CE2 
Message: It's just like you to be interested in the younger sister. At least you're 
consistent. I thought Mika Brzezinski come back of the picture of the Cheerios being 
for small hands against Donald Trump was good. 
Sender: 
Time: 06/30/17 11:08:53 AM (520538933) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 3A6A8F95-C4EA-4B33-83E5-44E088378518 
Message: Did you just call me? 
HOUSE OVERSIGHT 027247 
"
IMAGES-008-HOUSE_OVERSIGHT_026461.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 12/2/2017 2:36:15 PM
To: Larry Summers
Subject: Re: A tax loophole for just Jeffrey Epstein?

Importance: — High

after DJT actually signs it. I'll point out the location of the other eggs much more creative - overall though,
the writers were very sophisticated. they closed many many loopholes. and did it elegantly. example closing
all the 1031 crazy transactions by merely inserting the word "" real"" in from of the word property very

clever, or not redoing the paragraph but merely changing the penalty to zero. . or detailing related party
definitions that had teeth. . they cant be faulted for not getting it right -100 percent :)

On Sat, Dec 2, 2017 at 9:30 AM, Larry Summers <> wrote:

I don’t know whether to laugh or cry

Sent from my iPhone

Please direct all scheduling inquiries to my office at: Po

Follow me on twitter @lhsummers
www.larrysummers.com

On Dec 2, 2017, at 9:29 AM, jeffrey E. <jeevacation@gmail.com> wrote:

like the hunt for easter eggs. your friend andrew has so far only found one . and it was brighly colored :)

On Sat, Dec 2, 2017 at 9:23 AM, Larry Summers <> wrote:

27"")
Sent from my iPhone

Please direct all scheduling inquiries to my office at: LF

Follow me on twitter @lhsummers
www.larrysummers.com

Begin forwarded message:

From:

Date: December 2, 2017 at 8:16:13 AM EST
To: Lawrence Henry Summers
Subject: Fwd: A tax loophole for just Jeffrey Epstein?

Did you see this

HOUSE_OVERSIGHT_026461
"
TEXT-001-HOUSE_OVERSIGHT_030738.txt,"From: Steve Bannon 
Sent: 8/20/2018 2:28:22 AM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Re: Steve Bannon says GOP must rally behind Trump to survive I News & Observer 
Importance: High 
Exactly 
But somebody big has u in the gunsights 
On Aug 19, 2018, at 10:27 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
yes . no worry, november too important to risk diversion, mission first 
On Sun, Aug 19, 2018 at 10:21 PM, Steve Bannon > wrote: 
Yes 
but let's discuss--their is a crazed jihad against u--ive never seen anything like it--and I've seen a lot 
Sent via BlackBerry by AT&T 
From: ""jeffrey E."" <jeevacation@gmail.com> 
Date: Sun, 19 Aug 2018 22:17:38 -0400 
To: Steve Bannon< 
Subject: Re: Steve Bannon says GOP must rally behind Trump to survive News & Observer 
AHHHH thats more like it „ we need to find you the exorcist hat. ! . do you think you might want to 
come to europe? 
On Sun, Aug 19, 2018 at 9:41 PM, Steve Bannon < > wrote: 
https://www.newsobserver.com/news/business/article216997195.html 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030738 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030739 
"
TEXT-001-HOUSE_OVERSIGHT_023022.txt,"From: Darren Indyke 
Sent: 10/18/2013 11:25:53 PM 
To: Jeffrey Epstein [jeevacation@gmail.com] 
Subject: Fwd: Request for comment from The Mail on Sunday with noon ET Saturday deadline re Mr Bradley Edwards vs Mr 
Jeffrey Epstein 
Importance: High 
Privileged - Redacted 
L._ 
Sent from my iPhone 
Begin forwarded message: 
From: Tonja Haddad Coleman < 
Date: October 18, 2013 at 6:38:16 PM EDT 
To: Darren Indyke Jeffrey Epstein <jeevacation@gmail.com>, "" 
Cc: Debbie Fein 
Subject: Fwd: Request for comment from The Mail on Sunday with noon ET Saturday deadline re Mr 
Bradley Edwards vs Mr Jeffrey Epstein 
Tonja Haddad Coleman, Esq. 
Sent from my iPhone 
Begin forwarded message: 
From: Sharon Churcher • 
Date: October 18, 2013 at 6:32:28 PM EDT 
To: 
' < 
Cc: Nick Pyke , Liz Hartley < 
Subject: Request for comment from The Mail on Sunday with noon ET Saturday deadline re Mr Bradley 
Edwards vs Mr Jeffrey Epstein 
Dear Sirs: 
We are preparing an article about the calendaring today of Mr Edwards' claim against Mr Epstein for jury trial 
and the witness list which names________________and other young women who allege they were underage 
victims of Mr Epstein. 
Mr Edwards claims that Mr Epstein maliciously attempted to intimidate him and his clients into retracting their 
claims. 
Ms further has stated to us that she intends to testify that she was flown to London by Mr Epstein and 
instructed to have sex at age 17 with Prince Andrew. She alleges that she was paid $15k for this encounter. 
She claims that on another occasion, Mr Epstein flew two young women to a dinner for the purpose of 
entertaining President Clinton. She claims she herself was sex trafficked to several other men, whose contact 
HOUSE OVERSIGHT 023022 
information is contained in an address book of Mr Epstein's filed in court records. 
May we have a comment please? Our deadline is 1pm tomorrow (SATURDAY) ET. 
Yours sincerely, 
Sharon Churcher 
The Mail on Sunday (New York office) 
Ph 
or : 
This e-mail and any attached files are intended for the named addressee only. It contains information, which 
may be confidential and legally privileged and also protected by copyright. Unless you are the named addressee 
(or authorised to receive for the addressee) you may not copy or use it, or disclose it to anyone else. If you 
received it in error please notify the sender immediately and then delete it from your system. 
Associated Newspapers Ltd. Registered Office: Northcliffe House, 2 Derry St, Kensington, London, W8 5TT. 
Registered No 84121 England. 
HOUSE OVERSIGHT 023023 
"
IMAGES-003-HOUSE_OVERSIGHT_015736.txt,"46 Are the Androids Dreaming Yet?

nothing; no wind chill, nothing. The air was so hot the wind carried no
heat from my hand. When I imagine hot weather it always brings back
this memory. It’s my conscious experience of the world.

Humans experience the world through a vivid lens we call
consciousness. It allows us to think about the world as we watch it and
plan actions. But, it also summons associated memories, something
scientists call ‘qualia. Most writers describe consciousness as an internal
dialogue with themselves and see it as a consequence of human language.
That's probably because most writers are linguists. Non-linguists, perhaps
even dyslexic engineers like me, experience consciousness as more of a
visual dialogue.

It’s hard to pin down consciousness as the difference between
humans and computers. Computers do have something that resembles
consciousness; they have watchdog functions, they plan and anticipate
actions and are aware of their own existence. But they don’t understand
or make free choices based on this consciousness. It is an entirely
mechanistic affair. A computer might know its CPU is overheating and
send a notification message to the administrator, but it does not really
appreciate what this means. It does not have our sensation of a near death
experience. This self-awareness is the ‘hard question of consciousness.
Why, despite the computer knowing it is overheating, does this not
translate into the intense experience we have? Philosophers, such as
Daniel Dennett, think this lack of consciousness is only a matter of time;
once computers live long enough and have sufficient internal complexity
they will begin to experience the world the way we do. We are nothing
special.

The problem with consciousness is it does not seem to have any
externally discernible effect. Anesthetics can take it away and brain
scanners can see that it has been switched off, but what is it for? I think it
comes hand in hand with our faculty of creativity. Consciousness allows
us to shape the world — not the other way round.

HOUSE_OVERSIGHT_015736
"
IMAGES-012-HOUSE_OVERSIGHT_033441.txt,"this is only the first quarter of the game. if you call atime out, its on the field and done with dignity, you
cant retreat into the locker room and send a note to the opposing side. _in the next quarter she will appreciate
whatever you've said with respect and founded on strength. you care very much for this person. you might
want to demonstrate that. a note does the very opposite. . its like trump firing comey. :)

On Sun, Mar 17, 2019 at 9:01 AM Larry Summers i wrote:

It was latter. Why bad form. Supposed to be face to face?

Sent from my iPad

Please direct all scheduling inquiries to my office 2: ITT TT

Follow me on twitter @lhsummers
www.larrysummers.com

On Mar 17, 2019, at 8:54 AM, J <jeevacation@gmail.com> wrote:

unclear if you meant you ve written notes to yourself re exit or a note you were thinking of sending - BAD
FORM if latter. you both have still not agreed the rules of the game. so difficult to play . you have laid
out - this is whati want. . but actually , how it would work , and what her freedoms are. could be . yours..
are essential to the plan. I think much of this is your uncertainty and not hers. sorry. and yours is
infectious

On Sun, Mar 17, 2019 at 8:48 AM Larry Summers Sa wrote:

Ok. Best to make reversible errors
I’ve written note for exit strategy 1. Not going to send for few days.

Going to treat it all as a game till I maybe see her in Beijing and out of character ignore and look past her
bad behavior.

Best to stop obsessing.

Sent from my iPad

Please direct all scheduling inquiries to my office at: Po

Follow me on twitter @lhsummers
www.larrysummers.com

On Mar 17, 2019, at 8:42 AM, J <jeevacation@gmail.com> wrote:

com

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for

HOUSE_OVERSIGHT_033441
"
IMAGES-012-HOUSE_OVERSIGHT_032987.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032987
"
IMAGES-004-HOUSE_OVERSIGHT_017327.txt,"4.2.12
WC: 191694

Our investigation also uncovered that Desiree’s father had a history of violence toward her.
According to a news report, Desiree’s mother had her father arrested and charged with assault
and battery against Desiree. “In her account,” reported in the media, “Desiree alleged to the
police that her father ‘hit me and pushed my head under the sink...He continued slamming my
head into the wall and the floor. I freed myself and reached for a knife to protect myself.’” A
sworn statement by the mother reportedly said that her husband “flew off the handle” when
Desiree told him “she had lost her virginity.”

In order to avoid his fury once again, this time for having consensual sex with Tyson, she
apparently decided to cry rape once again. At first, she said that he had ""tried"" to rape her. She
initially denied having sex with Tyson. Then she said they had sex ""on the floor."" She told the
female chaplain at the hospital that there had been some ""participation"" and consensual physical
involvement on her part, before he forced her. Finally, she settled on the account she gave at
trial: that he had raped her on the bed with no prior consensual involvement on her part.

No one except Tyson and Washington knows exactly what went on behind the closed doors of his
hotel room. There was no videotape. Nor was there any physical evidence to corroborate
Washington’s unlikely story. Indeed, the available physical evidence completely undercuts her
story. She was wearing a sequin-studded outfit, which she claims Tyson “yanked” off her as he
“slammed [her] down on the bed.” If that had happened, there would have been sequins all over
the hotel room. Indeed, at the trial, when the dress was gingerly introduced into evidence,
sequins fell off in the courtroom. But only one sequin was found in Tyson’s hotel room after the
allegedly forcible rape.

Nor were there any bruises—external or internal—found on Ms. Washington that were consistent
with her account of how Tyson had “forced” her to have sex. She testified that Tyson “slammed
[her] down on the bed,” got on top of her, held her down with his forearm across the chest, and
forced himself inside her.

Had the 230-pound, muscular Tyson done that to the 105-pound, slight Washington, there would
have been bruises, welts, contusions, and even broken ribs. Yet there was not even the slightest
bruise on Washington’s body when she went to the hospital just hours after the sexual encounter.
The doctors found only two tiny microscopic abrasions, which, according to leading experts, are
perfectly consistent with consensual sex—especially if the man has a larger-than-average penis or
the woman a smaller-than-average vagina. Such tiny abrasions are also more likely when two
people have consensual sex with each other for the first time and are not used to one another’s
sexual movements and desires. Mike Tyson’s account of what occurred, on the other hand, was
entirely consistent with the physical evidence. And it would have been corroborated had the
judge not excluded the three objective eye witnesses who saw them necking and kissing just
moments before they went to his hotel room.

Despite the absence of physical evidence to corroborate Desiree Washington's story, the jury
eventually believed her because there was no compelling reason to disbelieve the testimony of a

young, religious, sexually inexperienced ""girl"" who had no possible motive to put herself through
the agony of a rape trial. But it turns out that there were very good reasons for not believing her.

240

HOUSE_OVERSIGHT_017327
"
IMAGES-008-HOUSE_OVERSIGHT_025168.txt,"please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

The contents of this email message and any attachments are intended solely for the addressee(s) and may
contain confidential and/or privileged information and may be legally protected from disclosure. If you are not
the intended recipient of this message or their agent, or if this message has been addressed to you in error,
please immediately alert the sender by reply email and then delete this message and any attachments. If you are
not the intended recipient, you are hereby notified that any use, dissemination, copying, or storage of this

message or its attachments is strictly prohibited.

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_025168
"
IMAGES-004-HOUSE_OVERSIGHT_018014.txt,"Case 1:19-cv-03377 Document 1-8 Filed 04/16/19 Page 16 of 16

http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303

Another person who went to the island with Epstein, Maxwell, and several beautiful women
remembers that the women “sat around one night teasing him about the kinds of grasping women
who might want to date him. He was amused by the idea.... He’s like a king in his own world.”

Many people comment there is something innocent, almost childlike about Jeffrey Epstein. They
see this as refreshing, given the sophistication of his surroundings. Alan Dershowitz says that, as
he was getting to know Epstein, his wife asked him if he would still be close to him if Epstein
suddenly filed for bankruptcy. Dershowitz says he replied, “Absolutely. I would be as interested
in him as a friend if we had hamburgers on the boardwalk in Coney Island and talked about his
ideas.”

HOUSE_OVERSIGHT_018014
"
TEXT-001-HOUSE_OVERSIGHT_015590.txt,"﻿Filing # 37357304 E-Filed 02/03/2016 12:44:44 PM
BRADLEY J. EDWARDS and
PAUL G. CASSELL,
vs.
Plaintiffs/Counterclaim Defendants,
ALAN M. DERSHOWITZ,
Defendant/Counterclaim Plaintiff.
___________________________________________/
IN THE CIRCUIT COURT OF THE
SEVENTEENTH JUDICIAL CIRCUIT
IN AND FOR BROWARD COUNTY, FLORIDA
CASE NO.: CACE 15-000072
DEFENDANT/COUNTERCLAIM PLAINTIFF ALAN M. DERSHOWITZ’S REDACTED
MOTION TO MODIFY CONFIDENTIALITY ORDER
Defendant/Counterclaim Plaintiff, Alan M. Dershowitz (“Dershowitz”), by and through
undersigned counsel, hereby files his Redacted Motion to Modify Confidentiality Order of
January 12, 2016, and in support thereof states the following:
On January 16, 2016, Defendant Alan M. Dershowitz began the deposition of non-party
Virginia Roberts Giuffre (“Roberts”). Pursuant to this Court’s January 12, 2016 Confidentiality
Order, that transcript currently is under seal. The Confidentiality Order should be modified at
least to allow Dershowitz to defend this case. Dershowitz and his counsel need to be able to
contact witnesses, inform them of Roberts’s testimony, and ask them whether Ms. Roberts’s
testimony is accurate. They also need to be able to use Ms. Roberts’s testimony in other ways as
part of the defense effort, such as by providing it to expert witnesses, among other things. The
bottom line is that Dershowitz’s counsel must be able to use Roberts’s testimony as necessary in
their professional judgment to represent their client, as a matter of fairness and due process.
Accordingly, Dershowitz requests that the Court modify the Confidentiality Order to
confirm that Dershowitz’s counsel may disclose Ms. Roberts’s testimony as they deem necessary
in their professional judgment in order to represent Dershowitz in this case.
BACKGROUND & EXECUTIVE SUMMARY
Dershowitz was first presented with Roberts’s heinous and false allegations against him
when her lawyers, Bradley J. Edwards (“Edwards”) and Paul G. Cassell (“Cassell”), filed certain
now-stricken allegations in the action styled Jane Doe, et al. v. United States of America, No. 08-
80736 (S.D. Fla.) (the “Federal Action”). After Dershowitz defended himself to the media,
Edwards and Cassell sued Dershowitz for defamation. The falsity of Roberts’s allegations, her
credibility, and the investigation her lawyers took to assess those allegations and credibility
before filing those allegations are a critical part of Dershowitz’s defense.
On April 9, 2015, Roberts moved for an order “quashing the subpoena duces tecum
served on her by Defendant, or alternatively, pursuant to Florida Rules of Civil Procedure
1.280(c) for issuance of a protective order sharply limiting the scope of the subpoena” (the
“Motion to Quash”). See Motion to Quash, attached hereto as Exhibit A. Roberts did not move
to seal the deposition transcript and the resulting order did not seal it, but instead directed that “a
confidentiality order shall be entered.” See November 4, 2015 Email from Judicial Assistant
Susan Moss, attached hereto as Exhibit B and November 12, 2015 Order, attached hereto as
Exhibit C. The Confidentiality Order then prepared by Roberts’s counsel and consented to by all
parties includes a provision stating that “[t]he deposition testimony of Non-Party Virginia
Giuffre will be designated as ‘Confidential’ and not subject to public disclosure” and that “[i]t
may only be filed under seal.” See January 12, 2016 Confidentiality Order, attached hereto as
Exhibit D.
2
Dershowitz now requests that the Court modify the Confidentiality Order to allow
Dershowitz to use the transcript for those limited purposes as deemed necessary in the
professional judgment of his counsel to ensure Dershowitz is afforded his right to build and
present his defense.
I. DERSHOWITZ MUST BE ALLOWED TO CONTACT WITNESSES AND
ADVISE THEM OF WHAT ROBERTS ALLEGES IN ORDER TO VERIFY OR
DISPROVE HER ALLEGATIONS AND CREDIBILITY AND DETERMINE
WHETHER PLAINTIFFS EVER MADE EFFORT TO CONTACT THESE
INDIVIDUALS TO VERIFY ROBERTS’S ALLEGATIONS AND CREDIBILITY.
As explained by Plaintiffs Edwards and Cassell in their Response to Dershowitz’s Motion
to Determine Confidentiality, the “sexual abuse allegations filed by Edwards and Cassell for
their client Ms. Virginia Giuffre are not peripheral to this lawsuit – they are inherent to it.”
Plaintiffs’ Response to Dershowitz’s Motion to Determine Confidentiality, November 23, 2015,
attached hereto as Exhibit E at 4 (emphasis added). Those “sexual abuse allegations filed by
Edwards and Cassell for their client” go beyond Dershowitz. Another inherent part of this
lawsuit is what investigation, if any, Plaintiffs undertook with respect to the scope of Roberts’s
allegations, all of which bear upon her credibility. Dershowitz argues that Plaintiffs did not
perform a reasonable investigation before making the allegations in the Federal Action.
Plaintiffs argue that they did. Dershowitz must be allowed to contact witnesses and advise them
of what Roberts alleges so that Dershowitz can not only verify or disprove her allegations and
credibility, but also determine whether Plaintiffs ever made efforts to contact key witnesses to
verify Roberts’s allegations and credibility. As explained by one Florida court, “[o]penness in
courts has a salutary effect on the propensity of witnesses to tell the truth” as it “informs persons
affected by litigation of its effect upon them . . . .” John Doe-1 Through John Doe-4 v. Museum
of Sci. & History of Jacksonville, Inc., No. 92-32567-CI-CI, 1994 WL 741009, at *1 (Fla. Cir.
Ct. June 8, 1994) (internal citations omitted).
3
As set forth in Dershowitz’s Motion for Clarification of Confidentiality Order or Relief
from that Order, filed Jan. 29, 2016, it appears that Roberts made false statements in a publicly
filed affidavit about being present at a private island in the US Virgin Islands when former
President Clinton was there. Indeed, former FBI Director Louis Freeh determined based on the
response of the federal government to a FOIA request that the absence of records responsive to
the request “strongly establishes that former President Clinton was not present on Little St.
James Island during the period at issue.” Id. at 2. If Roberts made a false statement under oath
about former President Clinton, it is equally if not more likely that she has made false statements
about others whose whereabouts are more difficult to track.
Roberts cannot reasonably argue her testimony is confidential as she has already
disclosed this same information to the media and others. See Excerpts of Roberts’s Deposition
Transcript, attached hereto (under seal) as Exhibit F. 1
Roberts admitted that she sold her story in
2011, providing the media with the names of her many alleged abusers and providing details so
lurid that even the tabloid refused to repeat all of them. See id.; see also March 2, 2011, Sharon
Churcher, Daily Mail, attached hereto as Exhibit G. Dershowitz has also discovered that Roberts
repeated her allegations about her alleged abusers to many of her friends and family. See Exhibit
F; see also AD-006931-006933, Transcript of Telephone Conversation Between Alan M.
Dershowitz and Rebecca, attached hereto as Exhibit H. As a result, Roberts cannot claim that
these allegations are confidential simply because she repeated them during her deposition.
1 As per the Confidentiality Order, Exhibit F is only filed under seal.
4
II.
DERSHOWITZ MUST BE ALLOWED TO SHARE ROBERTS’S DEPOSITION
TRANSCRIPT WITH THOSE WORKING ON DERSHOWITZ’S BEHALF AS
PART OF THIS LITIGATION.
Dershowitz asks the Court to modify the Confidentiality Order to allow Dershowitz to
use the transcript in ways necessary for his defense including sharing the transcript with any
counsel and other legal support, experts, consultants, insurers, and others typically permitted
access to supposedly confidential information in addition to using it with potential witnesses and
others as deemed necessary in the professional judgment of his counsel as set forth above.
Dershowitz and his attorneys are aware of and will abide by the Florida Rules of Professional
Conduct, including its comments, regarding the handling of any information deemed by this
Court to be confidential within the limitations of the applicable rules.
III.
ALLOWING DERSHOWITZ TO USE THE DEPOSITION FOR THE LIMITED
PURPOSES OF HIS DEFENSE IS REQUIRED BY FLORIDA LAW.
Florida law requires that any sealing order be the least restrictive means necessary to
accomplish its purpose. The Florida Supreme Court held in Barron v. Florida Freedom
Newspapers, 531 So. 2d 113 (Fla. 1988), that a sealing order can be entered only where “no
reasonable alternative is available to accomplish the desired result, and, if none exists, the trial
court must use the least restrictive closure necessary to accomplish its purpose.” Id. at 118
(emphasis added); see also Carter v. Conde Nast Publ’ns, 983 So. 2d 23, 26 (Fla. 5th DCA
2008) (“an order sealing court records must state, inter alia, the particular grounds for making the
court records confidential, that the closure is no broader than necessary, and that there are no less
restrictive measures available.”).
This Court has not set forth any reasons addressing a request by Roberts to seal her
deposition transcript, much less determined that “no reasonable alternative is available” to
accomplish Roberts’s desired result. See News-Press Publ’g Co. v. State, 345 So. 2d 865, 867
5
(Fla. 2d DCA 1977) (“The judge’s statement that he had ‘cogent reasons’ for sealing the records
obviously fell short of specifically setting forth the reasons why public access to these deposition
was being denied.”). Moreover, Roberts and Plaintiffs cannot argue that sealing her deposition
in its entirety is “the least restrictive” option, as it is most certainly the most restrictive option
and one that Florida courts take very seriously. “[A] closure order must be drawn with
particularity and narrowly applied.” Barron, 531 So. 2d at 117.
Here, that requisite “least restrictive” application requires, at a minimum, allowing
Dershowitz to use Roberts’s testimony for the limited purposes necessary in the professional
judgment of his counsel to represent their client, as a matter of fairness and due process.
CONCLUSION
Because Dershowitz must be able to prepare his defense and any sealing order must be
the least restrictive measure available, the Court should modify the Confidentiality Order to
confirm that Dershowitz’s counsel may disclose Roberts’s testimony as they deem necessary in
their professional judgment in order to represent Dershowitz in this case.
6
Respectfully submitted,
Dated: February 3, 2016
s/Thomas E. Scott
Thomas E. Scott, FBN 149100
Thomas.scott@csklegal.com
Steven R. Safra, FBN 057028
Steven.safra@csklegal.com
COLE, SCOTT & KISSANE, P.A.
Dadeland Centre II, 14th Floor
9150 South Dadeland Boulevard
Miami, Florida 33156
Phone: (305) 350-5300
Fax: (305) 373-2294
Richard A. Simpson (pro hac vice)
rsimpson@wileyrein.com
Mary E. Borja (pro hac vice)
mborja@wileyrein.com
Ashley E. Eiler (pro hac vice)
aeiler@wileyrein.com
Nicole Audet Richardson (pro hac vice)
nrichardson@wileyrein.com
WILEY REIN LLP
1776 K Street NW
Washington, DC 20006
Phone: (202) 719-7000
Fax: (202) 719-7049
Counsel for Alan M. Dershowitz
7
CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a copy of the foregoing has been electronically filed through
the Clerk of Broward County by using the Florida Courts eFiling Portal and thus served by
electronic mail: jsx@searcylaw.com, mep@searcylaw.com, scarolateam@searcylaw.com to:
Jack Scarola, Esq, Searcy Denney Scarola Barnhart & Shipley, P.A., Counsel for Plaintiff, 2139
Palm Beach Lakes Blvd., West Palm Beach, Florida 33409; jonijones@utah.gov to: Joni J.
Jones, Esq., Assistant Utah Attorney General, Counsel for Plaintiff Cassell, 160 East 300 South,
Salt Lake City, Utah 84114; brad@pathtojustice.com to: Bradley J. Edwards, Esq, Farmer,
Jaffe et al, 425 North Andrews Avenue, Suite 2, Ft. Lauderdale, FL 33301;
cassellp@law.utah.edu, to: Paul G. Cassell, Esq.,; smccawley@bsfllp.com,
sperkins@bsfllp.com, to: Sigrid S. McCawley, Esq., Boies Schiller & Flexner, LLP, 401 E. Las
Olas Blvd, Suite 1200, Ft. Lauderdale, FL 33301, this 3rd day of February, 2016.
By:
s/Thomas E. Scott
Thomas E. Scott
FBN: 149100
Steven R. Safra
FBN: 057028
8
EXHIBIT A
Filing # 25919336 E-Filed 04/09/2015 05:23:25 PM
IN THE CIRCUIT COURT OF THE 17 TH
JUDICIAL CIRCUIT IN AND FOR
BROWARD COUNTY, FLORIDA
CIVIL DIVISION
BRADLEY J. EDWARDS, and CASE NO. CACE 15-000072
PAUL G. CASSELL,
v.
Plaintiffs,
ALAN DERSHOWITZ,
Defendant.
/
MOTION TO QUASH OR FOR PROTECTIVE ORDER REGARDING
SUBPOENA SERVED ON NON-PARTY JANE DOE NO. 3
Non-party Jane Doe 3, by and through undersigned counsel and pursuant to Florida Rules
of Civil Procedure 1.410(c)(1) 1 , hereby moves for an order quashing the subpoena duces tecum
served on her by Defendant, or alternatively, pursuant to Florida Rules of Civil Procedure 1.280(c)
for issuance of a protective order sharply limiting the scope of the subpoena.
INTRODUCTION
This Court should quash the subpoena issued to non-party Jane Doe No. 3 as it is
unreasonable and oppressive. The Defendant is abusing the subpoena power in an effort to
intimidate, harass and cause undue burden to a non-party. Indeed, Defendant - just days ago -
publicly admitted that his goal of deposing Jane Doe No. 3 has nothing to do with this Florida
Defamation Action; rather, he is trying to find a way to send this victim of sexual trafficking to
“jail.” “She was hiding in Colorado…but we found her and she will have to be deposed. The end
1 For the limited purpose of the Motion to Quash or for Protective Order and resolving the scope of the
subpoena and any enforcement issues, Jane Doe No. 3 voluntarily submits herself to this Court’s
jurisdiction.
result is that she’ll go to jail because she will repeat her lies and we’ll be able to prove it and she
will end up in prison for perjury.” (emphasis added). See Exhibit 1, New York Daily News, April
7, 2015. Defendant has subjected Jane Doe No. 3 to horrific public attacks including publicly
calling her a “prostitute” and a “bad mother” to her three minor children. See Exhibit 2, Local 10
News, January 22, 2015.
Defendant has gone on a media blitz campaign against this non-party for statements she
made under oath in a federal action: “The end result of this case should be she [Jane Doe No. 3]
should go to jail, the lawyers should be disbarred and everybody should understand that I am
completely and totally innocent.” (emphasis added). See Exhibit 3, CNN International, New Day,
January 6, 2015. “My goal is to bring charges against the client and require her to speak in
court.” (emphasis added). See Exhibit 4, Australian Broadcasting System (ABC), January 6,
2015. Defendant also stated, in an interview in Newsmax, that he is “considering” bringing a
lawsuit against Jane Doe No. 3. “And we’re considering suing her for defamation as well, but
right now she was trying to hide in Colorado and avoid service, but we found her and we served
her and now she’ll be subjected to a deposition.” (emphasis added). See Exhibit 5, Newsmax,
April 8, 2015.
Defendant’s own words demonstrate that he is abusing the subpoena power of this Court to
try to get discovery that is irrelevant to this case, in the hopes of being able to intimidate Jane Doe
No. 3 with the press and generate a claim against her. Considering the extensive abuse that Jane
Doe No. 3 suffered as a minor child, and Defendant’s threats and intimidation, it would be both
unreasonable and oppressive to require this non-party to comply with this subpoena duces tecum.
Accordingly, Defendant’s subpoena should be quashed. See Exhibit 6, Defendant’s Subpoena to
Jane Doe No. 3.
2
BACKGROUND
The underlying action before this Court is a defamation case filed by a former federal
judge, Paul Cassell, and his colleague Brad Edwards, who represent various sexual trafficking
victims in a case pending in the Southern District of Florida, specifically case no. 08-cv-80736-
KAM, hereinafter (“CVRA case”). As a result of an affidavit filed in the CVRA case, Defendant
went on a national media defamation campaign calling, among other things, former federal judge
Paul Cassell and attorney Brad Edwards, “unethical lawyers” who should be “disbarred”. See
Exhibit 7, Today Show, January 5, 2015. In response to this national slander campaign by the
Defendant, Paul Cassell and Brad Edwards filed a defamation case against Defendant in the
Circuit Court of the Seventeenth Judicial Circuit for Broward County, Case No. CACE 15-
000072, hereinafter “Florida Defamation Action”).
Defendant’s statements against Paul Cassell and Brad Edwards are statements about their
character as lawyers and do not directly involve non-party Jane Doe No. 3. Despite this fact,
Defendant is abusing the subpoena power in this case by seeking documents from a non-party that
are irrelevant to the defamation issue before this Court. Defendant is determined to find a way to
harm non-party Jane Doe No. 3 and anyone who braves to represent her. Jane Doe No. 3 has good
cause to be fearful of the Defendant in this matter based on Defendant’s repetitive threats. See
Exhibit 8, Affidavit of Jane Doe No. 3. This Court should not allow Defendant to abuse the
subpoena power to further abuse this non-party. Florida Rules of Civil Procedure provide a
vehicle for this Court to protect a non-party from a harassing, burdensome and unnecessary
subpoena. As explained below, non-party Jane Doe No. 3 should be protected from having to be
deposed in this matter or produce documents. Defendant’s campaign of threats and intimidation
should not be condoned by this Court and Defendant’s subpoena should be quashed in its entirety.
3
ARGUMENT
1. This Court Should Quash Defendant’s Abusive Subpoena In Its Entirety.
Florida Rule of Civil Procedure 1.410(c)(1) provides that the Court may “quash or modify
the subpoena if it is unreasonable and oppressive.” Id. The Court has discretion to evaluate the
circumstances in determining whether the subpoena is “unreasonable and oppressive.” Matthews
v. Kant, 427 So. 2d 369, 370 (Fla. 2d DCA 1983). “The sufficiency thereof is a factual
determination for the trial judge who is vested with broad judicial discretion in the matter, and
whose order will not be overturned absent a clear showing of abuse of discretion.” Id.; see also
Sunrise Shopping Center, Inc. v. Allied Stores Corp., 270 So. 2d 32 (Fla. 4th DCA 1972) (Fourth
DCA quashing lengthy subpoena served on non-party who was not in control of documents as
being “oppressive and unreasonable.”). It is undisputed that Jane Doe No. 3 was sexually
trafficked as a minor child by Jeffrey Epstein and he was sentenced for his crimes. Allowing the
Defendant in this case to force this non-party to provide discovery on this highly sensitive topic
would be both oppressive and unreasonable and serves no purpose other than to foster Defendant’s
publicly admitted and utterly baseless campaign to try to send Jane Doe No. 3 to “jail.”
The documents requested in Defendant’s subpoena demonstrate the oppressive and
unreasonable nature of the requests. Defendant, for example, seeks highly personal and sensitive
information from this victim of sexual trafficking, including requesting her personal diary during
the time when she was being sexually abused as a minor child. See Exhibit 6, Request no. 16.
Defendant also demands that this non-party produce photographs and videos of her as a minor
child while she was being sexually trafficked by convicted sex offender Jeffrey Epstein. See
Exhibit 6, Request nos. 2, 3, 4 and 10. Defendant’s unreasonable subpoena even includes a
demand for this non-party’s personal cell phone records for more than a three (3) year period
during the time when she was a minor child being sexually trafficked. See Exhibit 6, Request no.
4
15. Defendant also demands items like personal financial documents from this non-party
including payments she received from convicted sex offender Jeffrey Epstein and the men he
“lent” this minor child out to from 1999 – 2002. See Exhibit 6, Request no. 20. It is without
question that Defendant is abusing the subpoena power in this case to conduct a fishing expedition
in an effort to intimidate and harass this victim and to try to dig up information he can use in his
openly stated “goal” to send this non-party to “jail.”
Jane Doe No. 3 is rightfully fearful of Defendant as he is an incredibly powerful individual
and the legal counselor to convicted Jeffrey Epstein who sexually trafficked Jane Doe No. 3 for
years when she was a minor child. See Exhibit 8, Affidavit of Jane Doe No. 3. Jane Doe No. 3
believes Defendant’s goal is to abuse the subpoena power to get her into a deposition so he can
harass and intimidate her by forcing her to discuss the abuse she had to withstand as a minor child.
See Exhibit 8, Affidavit of Jane Doe No. 3. None of that childhood abuse is relevant to this case
which involves the narrow issue of whether Defendant defamed two lawyers. Defendant’s
subpoena is both unreasonable and oppressive and should be quashed. See Matthews v. Kant, 427
So. 2d 369, 370 (Fla. 2d DCA 1983).
2. The Court Should Quash The Subpoena In Its Entirety, But At A Minimum, It
Should Severely Limit The Production Requirements.
In addition to its power to quash the subpoena, Florida Rule of Civil Procedure 1.280(c)
also allows the Court to protect a non-party from discovery that would result in “annoyance,
embarrassment, oppression or undue burden or expense…” Allstate Ins. Co. v. Langston, 655 So.
2d 91, 94 (Fla. 2003) (Florida Supreme Court overturning denial of protective order and holding
that “[d]iscovery of certain kinds of information ‘may reasonably cause material injury of an
irreparable nature.’”) (internal quotations omitted). Matthews v. City of Maitland, 923 So. 2d 591,
595 (Fla. 5th DCA 2006) (quashing discovery order where “[t]he compelled disclosure… would
create a chilling effect on [petitioners] rights…”). The Court may determine that “the discovery
5
not be had” or that “the discovery may be had only on specified terms and conditions…”. Fla. R.
Civ. P. 1.280(c).
Defendant issued a vastly overbroad subpoena to this non-party which included 25
separate document requests, many with subparts. In addition to placing an undue burden on this
non-party to have to search for the broad scope of materials requested, the document requests seek
information that is irrelevant to the Florida Defamation Action and clearly intended to “embarrass
and oppress” this non-party. Fla. R. Civ. P. 1.280(c). Defendant’s overly broad subpoena to nonparty,
Jane Doe No. 3, goes so far as to seek documents relating to former President, Bill Clinton
and former Vice President, Al Gore, which, even if such documents existed, would be absolutely
irrelevant to the Florida Defamation Action. See Toledo v. Publix Super Markets, Inc., 30 So. 3d
712 (Fla. 4 th DCA 2010).
Defendant’s requests can be grouped into four key categories: (1) documents that contain
highly personal and sensitive information sought only to harass, embarrass and intimidate the nonparty;
(2) documents unrelated to this action and, instead, intended to gain discovery relating to
Defendant’s admitted “goal” of putting this non-party in “jail,” bringing a new case against Jane
Doe No. 3, or related to the federal action; (3) documents that contain personal financial or other
confidential information; and (4) privileged communications between the non-party and her
lawyers. Non-party, Jane Doe No. 3, has filed specific objections as to each request sought in
Defendant’s subpoena as set forth in Exhibit 9. Here, Jane Doe No. 3 provides the Court with a
sampling of the oppressive nature of the subpoena that is the subject of her detailed objections.
a. Category 1 – Overly Broad Subpoena Requests Intended Solely to Harass, Embarrass
and Intimidate the Non-Party by Seeking Highly Personal and Sensitive Information
It is clear from the Defendant’s requests that his intent is to intimidate and harass this nonparty
by seeking highly sensitive personal information that is irrelevant to this action. For
example, Request no. 16 seeks “Any diary, journal or calendar concerning your activities between
6
January 1, 1999 and December 31, 2002.” Defendant is seeking personal diary information during
the time this non-party was a minor child and a victim of sexual trafficking. There is no reason
this non-party should be forced to produce her diary from when she was a child. See Peisach v.
Antuna, 539 So. 2d 544 (Fla. 3rd DCA 1989) (court of appeal holding that trial court departed
from the essential requirements of law by granting deposition of party’s gynecologist which was
only meant to invade privacy and intimidate and harass the party).
Defendant also has a number of requests (Request nos. 2, 3, 4, 10 and 19) that seek
“photographs” and “videos” of this non-party when she was a minor child and during the time she
was the subject of sexual abuse. Photographs of Jane Doe 3 when she was a minor child are
completely irrelevant to the matter before this Court. Defendant served this subpoena demand
solely to intimidate, harass and embarrass this non-party and the Court should preclude this type
of discovery set forth in Request Nos. 2, 3, 4, 10, 15, 16, 19 and 21. See Citimortgage, Inc. v.
Davis, No. 50 2009 CA 030523, 2011 WL 3360318 (Fla. 15 th Cir. Ct. April 4, 2011) (trial court
granting protective order precluding a deposition noting “this deposition request is mere
harassment” and had no relevance to the underlying dispute where the party was wrongfully using
the discovery process for personal gain).
b. Category 2 – Clear Abuse of the Subpoena Power By Seeking Documents Unrelated
to this Action and Intended Instead to Provide Discovery for Other Actions
Defendant is abusing the subpoena power of this Court by issuing subpoena requests that
are intended to obtain discovery for the development of other actions against this non-party and
are unrelated to the instant case. See Exhibit 5, Newsmax Interview (“And we’re considering
suing her for defamation as well, but right now she was trying to hide in Colorado and avoid
service, but we found her and we served her and now she’ll be subjected to a deposition.”).
Defendant has admitted that his “goal” is to put Jane Doe No. 3 in “jail” and he is using this
Court’s subpoena power to go on a fishing expedition in the hopes of fulfilling his ultimate stated
7
“goal.” See Toledo v. Publix Super Markets, Inc., 30 So. 3d 712 (Fla. 4 th DCA 2010) (court of
appeal quashing discovery order where party sought law firm client file relating to a different
matter holding that “curiosity” about a law firm’s records does not satisfy the relevance
requirement and explaining that the contents of the “subpoena is a classic ‘fishing expedition’ and
the trial court’s order departs from the essential requirements of the law.”); Calvo v. Calvo, 489
So. 2d 833, 834 (Fla. 3d DCA 1986) (quashing subpoena served on wife’s bank for financial
records finding them irrelevant: “indeed, the husband has failed to demonstrate what possible
relevance the records might have in the proceeding below other than to harass the wife.”).
(emphasis added).
Defendant’s incredibly broad and unrelated demands include, for example, Request no. 24:
“All documents concerning, relating or referring to your assertions that you met former President
Bill Clinton, Former Vice President Al Gore and/or Mary Elizabeth “Tipper” Gore on Little Saint
James Island in the U.S. Virgin Islands.” See Exhibit 6, Request no. 24. Whether or not Jane Doe
No. 3 met any of these individuals has absolutely nothing to do with the action before this Court.
See Allstate Ins. Co. v. Langston, 655 So. 2d 91, 94 (Fla. 2003) (Florida Supreme Court holding
that “we do not believe a litigant is entitled carte blanch to irrelevant discovery” and ‘“It is
axiomatic that information sought in discovery must relate to the issues involved in the litigation,
as framed in the pleadings.’”) (internal citations omitted). Defendant’s Request demonstrates a
blatant example of abuse of the subpoena power.
Indeed, the face of many of Defendant’s subpoena demands demonstrate that he is using
the subpoena power of this Court to obtain discovery for the federal action. Request nos. 1, 5, 6
and 9 all reference the “federal action” or specifically cite the declaration and case number “OS-
SO736-CIV-MARRA/JOHNSON. Request no. 1, for example, demands: “All documents that
reference by name, Alan M. Dershowitz, which support and/or confirm the allegations set forth in
Paragraphs 24-31 of your Declaration dated January 19, 2015 and/or Paragraph 49 of your
8
Declaration dated February 5, 2015, which were filed with the United States District Court for the
Southern District of Florida, in Jane Doe #1 and Jane Doe #2 v. United States of America, Case
No. OS-S0736-CIV-MARRA/JOHNSON, [ECF No. 291-1] (the ""Federal Action"").” Defendant
should not be using the subpoena power of this Court to issue a non-party subpoena for documents
sought for a federal action. 2
c. Category 3 – Documents that Contain Personal Financial Information Completely
Irrelevant to this Action
Defendant also wrongfully abuses the subpoena power to seek personal financial
information from this non-party. See Woodward v. Berkery, 714 So. 2d 1027, 1034-38 (Fla. 4 th
DCA 1998) (quashing lower court’s discovery order and finding irreparable harm to husband in
disclosure of private financial information when wife’s clear purpose was to wrongfully disclose
the financial information to the press) (emphasis added); see also Granville v. Granville, 445 So.
2d 362 (Fla. 1 st DCA 1984) (court of appeal overturning denial of protective order and finding that
private financial information should have been protected from disclosure).
The requests are clearly meant to intimidate and harass her by, for example, seeking
information during the time she was the subject of sexual trafficking by Jeffrey Epstein. Request
no. 20 seeks “All documents showing any payments or remuneration of any kind made by Jeffery
Epstein or any of his agents or associates to you from January 1, 1999 through December 31,
2002.” Whether Jeffrey Epstein paid minor children that he sexually trafficked has absolutely
nothing to do with the action before this Court and there is no basis to force a non-party who was
subject to this abuse to comply with a production demand on this topic. The subpoena also
includes request for financial information relating to the media. Apparently, Defendant believes
Jane Doe No. 3 has a book “deal” in the works. For example, Request no. 18 seeks: “All
documents concerning any monetary payments or other consideration received by you from any
2 The requests relevant to this category are nos.: 1, 5, 6,7, 8, 9, 12, 13, 14, 22, and 24.
9
media outlet in exchange for your statements (whether ""on the record"" or ""off the record"")
regarding Jeffrey Epstein, Alan M. Dershowitz, Prince Andrew, Duke of York, and/or being a sex
slave.” Whether Jane Doe No. 3 has interacted with the media has nothing to do with the Florida
Defamation Action. As explained above, a non-party’s personal financial information and other
confidential information is subject to protection by this Court. See Woodward v. Berkery, 714 So.
2d 1027, 1034-38 (Fla. 4th DCA 1998). Accordingly, the requests relating to financial
information from this non-party should be quashed 3 .
d. Category 4 – Plainly Privileged Communications
Defendant’s subpoena requests seek documents that are plainly privileged. Florida courts
are unequivocal in stating that an opposing party can never obtain attorney-client privileged
materials. See Quarles & Brady LLP v. Birdsall, 802 So. 2d 1205, 1206 (Fla. 2d DCA 2002)
(quashing discovery order and noting “undue hardship is not an exception (to disclosure of
privileged material), nor is disclosure permitted because the opposing party claims that the
privileged information is necessary to prove their case.”) (internal citations omitted). Non-party,
Jane Doe No. 3, objects to all of Defendant’s subpoena requests to the extent that they seek
documents protected by the attorney client privilege, work product doctrine, joint defense and
common interest privileges and any other relevant privilege. Indeed, Jane Doe No. 3 should be
protected from responding to Request no. 25 in its entirety because on its face it seeks solely
privileged and confidential information relating to her retention of BSF. 4
See Westco Inc. v. Scott
Lewis’ Gardening & Trimming, Inc., 26 So. 3d 620, 622 (Fla. 4 th DCA 2010) (court explaining
that “[w]hen confidential information is sought from a non-party, the trial court must determine
whether the requesting party establishes a need for the information that outweighs the privacy
3 These Requests include nos. 9, 17, 18, 20 and 23.
4 Specifically, Request no. 25 seeks: “All documents concerning your retention of the law firm Boies,
Schiller & Flexner LLP, including but not limited to: signed letter of retainer, retention agreement,
explanation of fees, and/or any documents describing the scope of retention.”
10
rights of the non-party.”). Defendant has not established any basis for these privileged and
confidential documents that outweighs this non-party’s privacy rights.
3. The Subpoena Should Be Quashed In Its Entirety. If the Court Will Not Take
That Action, at a Minimum, It Should Grant a Protective Order Severely
Limiting The Areas Of Inquiry At Deposition And Grant Protections For This
Victim Who Is Fearful Of The Defendant.
This Court has the power to preclude and/or limit the deposition of non-party Jane Doe No.
3. Specifically, Florida Rule of Civil Procedure 1.280(c) allows the Court to prevent a deposition
from going forward “to protect a party or person from annoyance, embarrassment, oppression or
undue burden or expense that justice requires,” and courts routinely enter protective orders to
reduce the burden on subpoenaed non-parties to a case, as well as in cases where the discovery
sough is irrelevant. See, e.g., Peisach v. Antuna, 539 So. 2d 544 (Fla. 3d DCA 1989) (holding that
the trial judge erred in allowing the deposition of certain non-parties where evidence sought was
irrelevant); see also Citimortgage, Inc. v. Davis, No. 50 2009 CA 030523, 2011 WL 3360318 (Fla.
15 th Cir. Ct. April 4, 2011) (trial court granting protective order precluding a deposition noting
“this deposition request is mere harassment” and had no relevance to the underlying dispute where
the party was wrongfully using the discovery process for personal gain). Section 4 of Rule 1.280
provides that the Court can also limit the areas of inquiry of a deposition providing “that certain
matters not be inquired into, or that the scope be limited to certain matters.”
Jane Doe No. 3 contends that the subpoena for her deposition should be quashed. If the
Court, however, is inclined to allow a deposition of Jane Doe No. 3, then she respectfully requests
the issuance of a Protective Order modifying the subpoena as set forth below.
a. Testimony Limitations
Non-party Jane Doe No. 3 respectfully requests that this Court limit the deposition to
questions directly related to Defendant’s defamatory statements about Brad Edwards and Paul
Cassell. The Court should limit Defendant’s ability to engage in a “fishing expedition” of this
11
victim to foster his goal of putting her into “jail” or of bringing a new action against Jane Doe No.
3. See Peisach v. Antuna, 539 So. 2d 544 (Fla. 3d DCA 1989); see also Citimortgage, Inc. v.
Davis, No. 50 2009 CA 030523, 2011 WL 3360318 (Fla. 15 th Cir. Ct. Apr. 4, 2011). Defendant
should be precluded from asking any questions about Jane Doe No. 3’s experiences as a sexually
trafficked minor. Defendant should be precluded from questioning Jane Doe No. 3 about
individuals that she was sexually trafficked to or about other victims or individuals involved in the
sexual trafficking orchestrated by Jeffrey Epstein. Defendant should be precluded from
questioning Jane Doe No. 3 about any rapes that occurred when she was a minor child. Defendant
should be precluded from questioning Jane Doe No. 3 about anything related to her sexual activity
either as a minor or thereafter as these questions would only be intended to embarrass and harass
this non-party witness.
b. Language and Harassment Limitations
In addition, Jane Doe No. 3 requests that the Court provide counsel with a cautionary
notice, that counsel for Defendant may not harass the non-party victim in any way during the
deposition. With respect to the language used at the deposition, the Defendant’s counsel should be
directed by the Court to not use any of the derogatory terms the Defendant has used in the press
including calling Jane Doe No. 3 a “prostitute,” a “liar,” or a “bad mother” or any other similar
derogatory and harassing language.
c. Physical Location Limitations
Non-party Jane Doe No. 3 has a valid and real basis to fear being in physical proximity of
the Defendant. See Exhibit 8, Affidavit of Jane Doe No. 3. Accordingly, to the extent a
deposition is to go forward, we would request that the Court direct that the Defendant not be
present in the same room as non-party Jane Doe No. 3 and, instead, follow the testimony
electronically from a separate location. In addition, non-party Jane Doe No. 3 respectfully
requests that the Court hold that the physical location of the deposition should be the offices of
12
Jane Doe No. 3’s attorney’s Boies, Schiller & Flexner LLP.
CONCLUSION
WHEREFORE, non-party Jane Doe No. 3 respectfully requests that this Court grant her
Motion to Quash, or alternatively, that the Court enter an order limiting the scope of her document
production and deposition as set forth above.
Dated: April 9, 2015
Respectfully submitted,
BOIES, SCHILLER & FLEXNER LLP
401 East Las Olas Boulevard, Suite 1200
Fort Lauderdale, Florida 33301
Telephone: (954) 356-0011
Facsimile: (954) 356-0022
By: /s/Sigrid S. McCawley________________
Sigrid S. McCawley, Esq.
Florida Bar No. 129305
Attorney for Non-Party Jane Doe No. 3
13
CERTIFICATE OF SERVICE
I HEREBY CERTIFY that on April 9, 2015, a true and correct copy of the foregoing was
served by Electronic Mail to the individuals identified below.
By:_/s/Sigrid S. McCawley_________
Sigrid S. McCawley
Thomas E. Scott
Thomas.scott@csklegal.com
Steven R. Safra
Steven.safra@csklegal.com
COLE, SCOTT & KISSANE, P.A.
9150 S. Dadeland Blvd., Suite 1400
Miami, Florida 33156
Renee.nail@csklegal.com
Shelly.zambo@csklegal.com
Jack Scarola
SEARCY DENNEY SCAROLA BARNHART &
SHIPLEY, P.A.
JSX@searcylaw.com
2139 Palm Beach Lakes Blvd.
West Palm Beach, FL 33409-6601
Attorney for Plaintiffs
Richard A. Simpson
rsimpson@wileyrein.com
Mary E. Borja
mborja@wileyrein.com
Ashley E. Eiler
aeiler@wileyrein.com
WILEY REIN, LLP
1776 K Street NW
Washington, D.C. 20006
Counsel for Defendant Alan Dershowitz
14
EXHIBIT B
From:
To:
Susan Moss
Thomas E. Scott; Steven R. Safra; Simpson, Richard; Borja, Mary; Eiler, Ashley; Jack Scarola; Mary E. Pirrotta;
smccawley@bsfllp.com
Subject: Edward & Cassell v. Dershowitz CACE 15-000072 (05)
Date:
Wednesday, November 04, 2015 11:22:42 AM
Good morning,
I am advising of Judge Lynch's rulings on the above referenced case. His rulings are
as follows:
Non Party's motion to quash, or for protective order, regarding subpoena served on
non party law firm Boies Schiller: The subpoena, as to the law firm, is quashed
As to the ""Jane Doe #3"" subpoena: The motion is granted as to request #9, 17,
18, 20 and 23.
The motion is denied as to the other requests, but a confidentiality order shall be
entered.
Regarding the deposition: The depo shall be limited to 4 hours without prejudice to
request additional time in the future.
The Defendant can be present at the depo.
The depo will be taken at the law firm representing the witness.
There shall be a special master, paid by the Defendant, present at the depo, to rule
on objections.
The depo will be limited to the issues of this case without prejudice for another
depo, if required, in the future.
The issues and said limitations will be determined by the special master.
Each attorney who had a motion heard, is to prepare the order on their motion for
the judges signature, along with sufficient copies, self addressed, self stamped
envelopes for all parties.
These orders cannot be submitted through the order portal.
Respectfully,
Susan Moss
Judicial Assistant to Judge Thomas M. Lynch, IV
201 S.E. 6th Street, Rm 920B
Fort Lauderdale, Florida 33301
954-831-7831
EXHIBIT C


EXHIBIT D

EXHIBIT E
Filing # 34801581 E-Filed 11/23/2015 05:53:31 PM
IN THE CIRCUIT COURT OF THE
SEVENTEENTH JUDICIAL CIRCUIT, IN
AND FOR BROWARD COUNTY, FLORIDA
BRADLEY J. EDWARDS and PAUL G.
CASSELL,
CASE NO.: CACE 15-000072
Plaintiffs,
vs.
ALAN M. DERSHOWITZ,
Defendant.
/
PLAINTIFFS/COUNTERCLAIM DEFENDANT EDWARDS AND
CASSELL'S RESPONSE TO DERSHOWITZ'S MOTION TO DETERMINE
CONFIDENTIALITY OF COURT RECORDS
Plaintiffs/Counterclaim Defendants Bradley J. Edwards and Paul G. Cassell, by and
through their undersigned attorneys, hereby file this response to Dershowitz's Motion to
Determine Confidentiality of Court Records. The records at issue are not confidential, and so the
Court should deny Dershowitz's motion in its entirety.
The court records at issue are three court filings by attorneys Edwards and Cassell
in which they recite their client's (Mr. Virginia Giuffre's) allegations that she was sexually
abused by Dershowitz. These records are hardly ""confidential"" in this defamation case,
where the parties have claims and counterclaims about these sexual abuse
Allegations. Rather, these records are an important part of this case, since they not only
support the conclusion that Dershowitz abused Ms. Giuffre, but also indisputably establish
Edwards and Cassell's strong basis for filing the allegations on her behalf. Moreover,
contrary to assertions made in Dershowitz's motion, these documents have never been
found to be ""confidential"" by any other court. And Dershowitz has repeatedly referred to
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 2 of 20
these documents, not only in defamatory statements broadcast worldwide, but also in his
pleadings before this Court and in recent depositions. Indeed, Dershowitz said in his
media interviews that he wants ""everything to be made public"" and implied that Edwards
and Cassell had something to hide. Accordingly, Dershowitz has failed to carry his heavy
burden to justify sealing these presumptively-public documents.
I. DERSHOWITZ HAS NOT JUSTIFIED SEALING ALLEGED
DEFAMATORY RECORDS THAT ARE INTEGRAL TO THIS
DEFAMATION CASE.
In his motion, Dershowitz never recounts the heavy burden that he must carry to seal the
records at issue. To be sure, Florida Rule of Judicial Administration 2.420 allows for the sealing
of ""confidential"" materials. But the Rule begins by recounting the overarching principle that
""[t]he public shall have access to all records of the judicial branch of government, except as
provided below."" Fla. R. Jud. Admin. 2.420(a). This rule is a codification of the Florida
Supreme Court's admonition that a ""a strong presumption of openness exists for all court
proceedings. A trial is a public event, and the filed records of court proceedings are public
records available for public examination."" Barron v. Florida Freedom Newspapers, Inc., 531
So.2d 113, 118 (Fla. 1988) (emphasis added). In light of this presumption of openness, ""[t]he
burden of proof in [closure] proceedings shall always be on the party seeking closure."" Id. To
obtain a sealing order, the party seeking sealing must carry a ""heavy burden."" Id.
Remarkably, Dershowitz fails to acknowledge these well-settled principles. More
important, he even fails to cite (much less discuss) the limited substantive exceptions to this
general principle of access — and which specific exception he believes applies to this
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 3 of 20
case. Accordingly, it is impossible for Edwards and Cassell to respond with precision to his
motion.
The exceptions that might arguably be in play in this case permit records to be maintained
as confidential in order to:
(i)
(ii)
(iii)
(iv)
(v)
(vi)
Prevent a serious and imminent threat to the fair, impartial, and orderly
administration of justice;
Protect trade secrets;
Protect a compelling governmental interest;
Obtain evidence to determine legal issues in a case;
Avoid substantial injury to innocent third parties;
Avoid substantial injury to a party by disclosure of matters protected by a
common law or privacy right not generally inherent in the specific type of
proceeding sought to be closed;
Comply with established public policy set forth in the Florida or United
States Constitution or statutes or Florida rules or case law ....
Fla. R. Jud. Admin. 2.420(c)(9) (codifying the holding in Barron v. Florida Freedom
Newspapers, Inc., 531 So.2d 113 (Fla. 1988)). The only exception that seems to even arguably
apply here is exception vi, which itself specifically provides that confidentiality is appropriate
only where disclosure is ""not generally inherent in the specific type of proceeding sought to be
closed"" (emphasis added). Of course, this lawsuit is a defamation action — involving
a defamation claim by Edwards and Cassell and a defamation counterclaim by
Dershowitz. Disclosure, discussion, and debate about the defamatory statements at issue lies at
the heart of the case. Accordingly, disclosure of these materials is ""inherent"" in the case itself.
The principle that defamatory material in a defamation case cannot be sealed is recognized
in Carnegie v. Tedder, 698 So.2d 1310 (2d DCA 1997). Carnegie involved a claim and
counterclaim between two parties (Carnegie and Tedder), one of whom alleged that disclosure of
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 4 of 20
the materials in the records would be harmful to his professional
reputation. Carnegie recited subsection vi's restriction on release of materials involving a
privacy right, but noted that ""statements Tedder alleged were defamatory and damaging were
allegations in Carnegie's counterclaim for which she seeks damages.
These matters were not peripheral to the lawsuit; they were inherent to it."" Id. at 1312. Of
course, exactly the same principle applies here: sexual abuse allegations filed by attorneys
Edwards and Cassell for their client Ms. Virginia Giuffre are not peripheral to this lawsuit — they
are inherent to it.
To see how ""inherent"" the sexual abuse allegations are to this lawsuit, the Court need
look no further than Dershowitz's counterclaim in this case. Count I of Dershowitz's
Counterclaim (styled as ""False Allegations in the Joinder Motion) contends that Edwards and
Cassell should pay him damages because they ""filed a pleading in the Federal Action titled 'Jane
Doe #3 and Jane Doe #4's Motion Pursuant to Rule 21 for Joinder in Action' . . . ."" Dershowitz
Counterclaim at 11 14. Dershowitz's Counterclaim then goes on to quote at length from the
Joinder Motion. His counterclaim contains, for example, this paragraph recounting the
allegations:
The Joinder Motion then goes on to allege — without any supporting evidence — as
follows:
One such powerful individual that Epstein forced then-minor Jane Doe #3 to
have sexual relations with was former Harvard Law Professor Alan
Dershowitz, a close friend of Epstein's and well-known criminal defense
attorney. Epstein required Jane Doe #3 to have sexual relations with
Dershowitz on numerous occasions while she was a minor, not only in Florida
but also on private planes, in New York, New Mexico, and the U.S. Virgin
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 5 of 20
Islands. In addition to being a participant in the abuse of Jane Doe #3 and other
minors, Dershowitz was an eye-witness to the sexual abuse of many other
minors by Epstein and several of Epstein's coconspirators. Dershowitz would
later play a significant role in negotiating the [Non-Prosecution Agreement] on
Epstein's behalf. Indeed, Dershowitz helped negotiate an agreement that
provided immunity from federal prosecution in the Southern District of Florida
not only to Epstein, but also to ""any potential coconspirators of Epstein."" Thus,
Dershowitz helped negotiate an agreement with a provision that provided
protection for himself against criminal prosecution in Florida for sexually
abusing Jane Doe #3. Because this broad immunity wouldhave been
controversial if disclosed, Dershowitz (along with other members of Epstein's
defense team) and the Government tried to keep the immunity provision secret
from all of Epstein's victims and the general public, even though such secrecy
violated the Crime Victims' Rights Act.
Dershowitz Counterclaim at 1115 (quoting Joinder Motion at 4).
Remarkably, having quoted at length from the Joinder Motion in his Counterclaim in this
case, Dershowitz now seeks to have that very same language from the Joinder Motion deemed
""confidential"" and sealed. Compare Counterclaim at ¶15 (block quotation above) with Motion to
Determine Confidentiality, Exhibit A at 4 (composite exhibit with proposed ""confidential""
document that includes paragraph beginning ""[o]ne such powerful individual that Epstein forced
then-minor Jane Doe #3 to have sexual relations with was former Harvard Law Professor Alan
Dershowitz, a close friend of Epstein's . . . .""). Dershowitz cannot come before this Court and
file a counterclaim seeking damages from Edwards and Cassell for alleged defamatory
statements and then ask to have those very same statements placed under seal as
""confidential."" See Barron v. Florida Freedom Newspapers, 531 So.2d at 119 (""although
generally protected by one's privacy right, medical reports and history are no longer protected
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 6 of 20
when the medical condition becomes an integral part of the civil proceeding, particularly when
the condition is asserted as an issue by the party seeking closure"" (emphasis added)).
H. JUDGE MARRA'S ORDER IN HIS CASE DOES NOT REQUIRE THAT
THE RECORDS BE SEALED IN THIS CASE.
Dershowitz also appears to contend that Judge Marra's order striking some of the
materials from the records at issue somehow requires that these stricken materials be kept
confidential in this case. Dershowitz's argument misunderstands both the scope of Judge
Marra's order and its effect in this case. His argument rests on a truncated — and misleading --
description of the events surrounding Judge Marra's ruling striking certain documents. A more
complete description makes clear that Judge Marra has not determined the documents are
somehow ""confidential"" even in the federal Crime Victims' Rights Act case — much less in this
separate state defamation action.
Edwards and Cassell filed the federal case pro bono on behalf of two young women who
were sexually abused as underage girls by Dershowitz's close personal friend — Jeffrey
Epstein. In 2008, Edwards and Casell filed a petition to enforce the rights of ""Jane Doe No. 1""
and ""Jane Doe No. 2"" under the Crime Victims' Rights Act (CVRA), 18 U.S.C. § 3771, alleging
that the Government had failed to provide them rights with regard to a plea arrangement it was
pursuing with Epstein. Jane Doe No. 1 and Jane Doe No. 2 v. United States, No. 9:08-cv-80736
(S.D. Fla.). In the course of that case, on October 11, 2011, the victims filed discovery requests
with the Government, including requests specifically seeking information about Dershowitz,
Prince Andrew, and others. Further efforts from the Government to avoid any discovery
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 7 of 20
followed (see generally Docket Entry or ""DE"" 225-1 at 4-5), ultimately leading to a further
Court ruling in June 2013 that the Government should produce documents. DE 189. The
Government then produced about 1,500 pages of largely irrelevant materials to the victims (DE
225-1 at 5), while simultaneously submitting 14,825 pages of relevant materials under seal to the
Court. The Government claimed that these pages were ""privileged"" for various reasons,
attaching an abbreviated privilege log.
While these discovery issues were pending, in the summer of 2014, Edwards and Cassell,
contacted Government counsel to request their agreement to add two additional victims to the
case, including Ms. Virginia Giuffre (who was identified in court pleadings as ""Jane Doe No.
3""). Edwards and Cassell sought to have her added to the case via stipulation, which would have
avoided the need to include any detailed facts about her abuse. Weeks went by and the
Government — as it had done on a similar request for a stipulation to add another victim — did not
respond to counsel's request for a stipulation. Finally, on December 10, 2014, despite having
had four months to provide a position, the Government responded by email to counsel that it was
seeking more time, indicating that the Government understood that victims' counsel might need
to file a motion with the court on the matter immediately. DE 291 at 3-5. Rather than file a
motion immediately, victims' counsel waited and continued to press the Government for a
stipulation. See id. at 5. Finally, on December 23, 2014 — more than four months after the initial
request for a stipulated joinder into the case — the Government tersely indicated its objection,
without indicating any reason: ""Our position is that we oppose adding new petitioners at this
stage of the litigation."" See DE 291 at 5.
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 8 of 20
Because the Government now contested the joinder motion, Edwards and
Cassell prepared a more detailed pleading explaining the justification for granting the
motion. One week after receiving the Government's objection, on December 30, 2014, Ms.
Giuffre (i.e., Jane Doe No. 3) and Jane Doe No. 4 filed a motion (and later a corrected motion)
seeking to join the case. DE 279 and DE 280. (Note: DE 280 is the first of the three documents
Dershowitz seeks to have declared ""confidential"" in this case.) Uncertain as to the basis for the
Government's objection, the motion briefly proffered the circumstances that would qualify
the two women as ""victims"" eligible to assert rights under the CVRA. See 18 U.S.C. 3771(e)
(defining ""crime victim"" protected under the Act). With regard to Ms. Giuffre, the motion
indicated that when she was a minor, Jeffrey Epstein had trafficked her to Dershowitz and Prince
Andrew (among others) for sexual purposes. Jane Doe No. 3 stated that she was prepared to
prove her proffer. See DE 280 at 3 (""If allowed to join this action, Jane Doe No. 3 would prove
the following .... ""). The motion also provided specific reasons why Jane Doe No. 3's
participation was relevant to the case, including the pending discovery issues regarding
Dershowitz and Prince Andrew. DE 280 at 9-10 (explaining several reasons participation of new
victims was relevant to existing issues).
After the motion was filed, various news organizations published articles about
it. Dershowitz also made numerous media statements about the filing, including calling Jane
Doe No. 3 ""a serial liar"" who ""has lied through her teeth about many world
leaders."" http ://vvww cnn . co m/2015/01/06/us/dershowi tz-sex -all e gati on/. Dershowitz also
repeatedly called Edwards and Cassell ""two sleazy, unprofessional, disbarable lawyers."" Id. On
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 9 of 20
January 5, 2015, Dershowitz filed a motion to intervene to argue to have the allegations
stricken. DE 282. Dershowitz also argued that Ms. Giuffre had not provided a sworn affidavit
attesting to the truth of her allegations. On January 21, 2015, Edwards and Cassell filed a
response for Ms. Giuffre and Jane Doe No. 4. DE 291. (Note: This is the second of the three
documents Dershowitz seeks to have kept under seal here.) The response enumerated nine
specific reasons why Ms. Giuffre's specific allegations against Dershowitz were relevant to the
case, including the fact that Ms. Giuffre needed to establish that she was a ""victim"" in the case,
that pending discovery requests concerning Dershowitz-specific documents were pending, and
that Dershowitz's role as a defense attorney in the case was highly relevant to the motive for the
Government and defense counsel to conceal the plea deal from the victims. DE 291 at 17-26 &
n.17. The response included a detailed affidavit from Ms. Giuffre about the sexual abuse she had
suffered from Epstein, Dershowitz, and other powerful persons. DE 291-1. On February 6,
2015, Edwards and Cassell filed a further pleading (and affidavit from Ms. Giuffre, see DE 291-
1) in support of her motion to intervene. (Note: this affidavit is the third of the three documents
Dershowitz seeks to have declared confidential.)
On April 7, 2015, Judge Marra denied Ms. Giuffi-e's motion to join the case. Judge
Marra concluded that ""at this juncture in the proceedings"" details about the sexual abuse she had
suffered was unnecessary to making a determination ""of whether Jane Doe 3 and Jane Doe 4
should be permitted to join [the other victims'] claim that the Government violated their rights
under the CVRA. The factual details regarding with whom and where the Jane Does engaged in
sexual activities are impertinent to this central claim (i.e., that they were known victims of Mr.
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 10 of 20
Epstein and the Government owed them CVRA duties), especially considering that the details
involve non-parties who are not related to the respondent Government."" DE 324 at 5 (emphasis
in original). While Judge Marra struck those allegations, he emphasized that ""Jane Doe 3 is free
to reassert these factual details through proper evidentiary proof, should [the victims]
demonstrate a good faith basis for believing that such details are pertinent to a matter presented
for the Court's consideration. Judge Marra then denied Ms. Giuffre's motion to join the case,
but allowed her to participate as trial witness: ""The necessary 'participation' of [Ms. Giuffre] ...
in this case can be satisfied by offering ... properly supported — and relevant, admissible, and
non-cumulative — testimony as needed, whether through testimony at trial ... or affidavits
supported in support [of] the relevancy of discovery requests."" DE 324 at 8 (emphasis
deleted). In a supplemental order, Judge Marra stated that the victims ""may re-refile these
documents omitting the stricken portions."" DE 325. The victims have recently refiled the
documents.
In light of this history, Dershowitz is flatly incorrect when he asserts that ""Judge Marra's
Order appropriately precludes the unredacted documents from being re-filed in this case on the
public docket."" Confidentiality Motion at 3. To the contrary, the Order specifically permits
factual details about Dershowitz's sexual abuse of Ms. Giuffre to be presented in regard to
pertinent matters in the federal CVRA case. And certainly nothing in Judge Marra's Order could
render those documents confidential in this state defamation case, where the central issues swirl
around Edwards and Cassell's good faith basis for filing the allegations. Indeed, the order is not
binding in any way in this case, because it is res judicata only as to Ms. Giuffre (the moving
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 11 of 20
party in that case), not as to her attorneys Edwards and Cassell. See Palm AFC Holdings, Inc. v.
Palm Beach County, 807 So.2d 703 (4th DCA 2002) (""In order for res judicata to apply four
identities must be present: (1) identity of the thing sued for; (2) identity of the cause of action;
(3) identity of persons and parties; and (4) identity of the quality or capacity of the persons for or
against whom the claim is made."").
III. EDWARDS AND CASSELL WILL BE PREJUDICED IF THEY ARE
BARRED FROM QUOTING FROM THE RECORD WHILE
DERSHOWITZ IS PERMITTED TO FREELY REFER TO THEM
WHENEVER HE FINDS IT CONVENIENT.
Dershowitz is also incorrect when he asserts that no prejudice will befall Edwards and
Cassell if the records are placed under seal. To the contrary, placing the documents under seal
would permit Dershowitz to continue to misrepresent and distort what is contained in those
records while preventing Edwards and Cassell from correcting those misrepresentations.
Dershowitz has repeatedly referred to details in the records when he has found it convenient to
do so — treating the records as not confidential in any away. One clear example comes from
Dershowitz's recent deposition, where he gratuitously injected into the record a reference to a
portion of Ms. Giuffre's affidavit about him watching Ms. Giuffre perform oral sex on
Epstein. And then, having injected that gratuitous reference into the record, he proceeded to try
to rebut the reference with confidential settlement discussions — but did so by mispresenting what
another attorney (David Boies) had said during the settlement discussions. So that the Court may
have the full flavor of the exchange, the narrow question to Dershowitz (by attorney Jack
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 12 of 20
Scarola) and Dershowitz's extended answer are quoted in full — including Dershowitz's
reference to the oral sex allegation that he now argues this Court should treat as ""confidential"":
Q. [Y]ou [are] aware that years before December of 2014, when the
CVRA pleading was filed, that your name had come up repeatedly in
connection with Jeffrey Epstein's abuse of minors, correct? . . .
A. Let me answer that question. I am aware that never before 2014,
end of December, was it ever, ever alleged that I had acted in any
way inappropriately with regard to Virginia [Giuffre], that I ever
touched her, that I ever met her, that Ihad ever been with her. I was
completely aware of that. There had never been any
allegation. She claims under oath that she told you that secretly in
2011, but you have produced no notes of any such conversation.
You, of course, are a witness to this allegation and will be deposed
as a witness to this allegation. I believe it is an entirely false
allegation that she told you in 2011 that she had had any sexual
contact with me. I think she's lying through her teeth when she
says that. And I doubt that your notes will reveal any such
information.
But if she did tell you that, she would be absolutely, categorically
lying. So I am completely aware that never, until the lies were put
in a legal pleading at the end of December 2014, it was
never alleged that I had any sexual contact with Virginia Roberts.
I know that it was alleged that I was a witness to Jeffrey Epstein's
alleged abuse and that was false. I was never a witness to any of
Jeffrey Epstein's sexual abuse. And I wrote that to you, something
that you have falsely denied. And I stand on the record. The record
is clear that I have categorically denied I was ever a witness to
any abuse, that I ever saw Jeffrey Epstein abusing anybody.
And -- and the very idea that I would stand and talk to Jeffrey
Epstein while he was receiving oral sex from Virginia Roberts,
which she swore to under oath, is so outrageous, so preposterous,
that even David Boies said he couldn't believe it was true.
MS. McCAWLEY: I object. I object. I'm not going to allow you to reveal
any conversations that happened in the context of a settlement discussion.
THE WITNESS: Does she have standing?
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 13 of 20
MS. McCAWLEY: I have a standing objection and, I'm objecting again. I'm
not going to
THE WITNESS: No, no, no. Does she have standing in this deposition?
MR. SCOTT: Let's take a break for a minute, okay?
THE WITNESS: I'm not sure she has standing.
MR. SCAROLA: Are we finished with the speech?
MR. SCOTT: No. If he --
MR. SCAROLA: I'd like him to finish the speech so that we can get to my
question
and then we can take a break.
A. So the question -- the answer to your question is --
MR. SIMPSON: Wait a minute. Wait a minute. Wait a minute. Please don't
disclose something that she has a right to raise that objection if she wants to.
MR. SCOTT: Exactly.
Deposition of Alan Dershowitz (Oct. 15, 2015) at 93-95 (attached as Exhibit 1); see
also Deposition of Alan Dershowitz (Oct. 16, 2016) (attached as Exhibit 2) (also containing
discussion of Ms. Giuffre's affidavit).
The Court should be aware that within approximately two hours of this exchange, Ms.
McCawley (David Boies' law partner) released a statement on his behalf, which stated that
Dershowitz was misrepresenting what happened: ""Because the discussions that Mr. Boies had
with Mr. Dershowitz were expressly privileged settlement discussions, Mr. Boies will not, at
least at this time, describe what was actually said. However, Mr. Boies does state that Mr.
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 14 of 20
Dershowitz description of what was said is not true."" Statement of Ms. McCawley on Behalf of
David Boies (Oct. 15, 2015).
More broadly, the Court can readily see from this passage how Dershowitz is willing to
inject into the record a part of Ms. Giuffre's affidavit whenever it serves his purpose — and,
indeed, to characterize the part of the affidavit as ""preposterous."" But then he asks this Court to
place the underlying affidavit under seal, so that the Edwards and Cassell stand accused having
filed a ""preposterous"" affidavit without anyone being able to assess the validity of Dershowitz's
attack.
Dershowitz has referred to the court records that he now wishes to have the Court declare
confidential not only in his deposition, but also in his widely-broadcast media attacks on
Edwards and Cassell. For example, Dershowitz appeared on the British Broadcasting
Corporation (the BBC) and was asked about the allegations:
Well, first of all they were made in court papers that they don't even ask for a hearing
to try to prove them. They put them in court papers in order to immunize themselves
from any consequences from a defamation suit. The story is totally made
up, completely out of whole cloth.
I don't know this woman. I was not at the places at the times. It is part of a pattern of
made up stories against prominent people and world leaders. And the lawyers in
recent statement challenged me to deny the allegations under oath. I am doing that. I
am denying them under oath, thus subjecting me to a perjury prosecution were I not
telling the truth. I am now challenging them to have their client put these charges
under oath and for them to put them under oath. I am also challenging them to repeat
them outside of the context of court papers so that I can sue them for defamation. . . .
And I will prove beyond any doubt not only that the story is totally false, but it was
knowingly false: that the lawyers and the client conspired together to create a false
story. That is why I am moving for their disbarment in challenges to be provided to
the disciplinary committee.
BBC Radio 4 - Sarah Montague (Jan. 3, 2015) (http://www.bbc.co.uk/programmes/p02g7qbc).
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 15 of 20
Similarly, Dershowitz appeared on NBC's Today Show the morning after Edwards and
Cassell made a filing for Ms. Giuffre, to say that the Edwards and Cassell — and Ms. Giuffre —
were all ""lying"" in the court documents:
Question from Savannah Guthrie: In legal papers from the lawyers, they say you've
had, in fact, the opportunity to be deposed.
Answer from Alan Dershowitz: They're lying. They're lying.
Question: They show letters in which they offered to depose you.
Answer: And they didn't show my letters in response saying, (a), if you ask me about
my legal relationship with Epstein and I'll be happy to answer. . . . And I responded
that I would be happy to be deposed if you could give me any indication that I would
be a relevant witness . . . . They will be proved — all of them [i.e., Cassell, Edwards,
and Ms. Giuffre] — to be categorically lying and making up this story. And it will be a
terrible thing for rape victims. . . . We [Epstein and Dershowitz] had an academic
relationship. I was never in the presence of a single, young, underaged
woman. When I was with him, it was with prominent scientists, prominent
academics. And they're just — again — lying about this. I never saw him doing
anything improper. I was not a participant. I was not a witness.
Today Show, Jan. 22, 2015 (emphases added).
As another example, in Miami Herald, Dershowitz called the Joinder Motion that he
seeks to have sealed the sleaziest legal document I have ever seen. They [Edwards and
Cassell] manipulated a young, suggestible woman who was interested in money. This is a
disbarrable offense, and they will be disbarred. They will rue the day they ever made this false
charge against me"" — i.e., Edwards and Cassell will ""rue the day"" they ever filed the Joinder
Motion. Miami Herald (Jan. 3, 2015).
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 16 of 20
Most remarkably, Dershowitz took the public airwaves to represent that he wanted all of
the information surrounding the allegations to ""be made public,"" while implying that Edwards
and Cassell had something to hide. For example, on the BBC he claimed that he
wanted""everything to be made public"":
Q: Would you encourage that it now be made public?
A: Of course, of course. I want everything to be made public. I want
every bit of evidence in this case to be made public. I want every
allegation to be made public. I want to know who else she's accused of
these horrible crimes. We know that she accused Bill Clinton of being on
Jeffrey Epstein's island and participating in sex orgy with underage
girls. The records of the Secret Service will prove that President Clinton
never set foot on that island. So that she lied. Now it's possible to have a
case of mistaken identification with somebody like me. It's impossible to
have a case of mistaken identification with Bill Clinton.
My only feeling is that if she has lied about me, which I know to an
absolute certainty she has, she should not be believed about anyone
else. She's lied clearly about me, she's lied clearly about Bill
Clinton. We know that. We know that she's lied about other public
figures, including a former prime minister and others who she claims to
have participated in sexual activities with. So I think it must be presumed
that all of her allegations against Prince Andrew are false as well.
I think he [Prince Andrew] should clear the air as well.
If you're squeaky clean and if you have never done anything like this, you
must fight back with all the resources available to you. And that's what I
will do. I will not rest or stop until the world understands no only that I
had nothing to do with any of this, but that she deliberately, with the
connivance of her lawyer, lawyers, made up this story willfully and
knowingly.
BBC Radio 4 - Sarah Montague (Jan. 3, 2015) (http://www.bbc.co.uk/programmes/p02g7qbc).
In another widely-broadcast interview on CNN, Dershowitz implied that there is no
evidence supporting the allegations against him:
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 17 of 20
Ask them [Edwards and Cassell] if they have any evidence . . . . They're doing it for
money. She's getting money for having sold her story. She wants to sell the book.
They're trying to get into this lawsuit. They see a pot of gold at the end of the
rainbow. They're [Edwards and Cassell] prepared to lie, cheat, and steal. These are
unethical lawyers. This is Professor Cassell who shouldn't be allowed near a
student. This is Professor Cassell, who is a former federal judge, thank God he no
longer wears a robe. He is essentially a crook. He is essentially somebody who's
distorted the legal profession. . . . Why would he charge a person with a
sterling reputation for 50 years on the basis of the word alone of a woman who is
serial liar, who has lied about former Prime Ministers, former Presidents, has lied
demonstrably.
CNN Live (with Hala Gorani) (January 5, 2015). Of course, by placing ""the evidence"" in this
case under seal, Dershowitz will be free to continue to try and insinuate that Edward and Cassell
— and their client, Ms. Giuffre — had no evidence supporting the allegations against him, even
though a mountain evidence strongly support Ms. Giuffre 's allegations. See Deposition of Paul
Cassell (Oct. 16, 2015) at 61-117 (Exhibit 3); see also Depo of Pual Cassell (Oct. 17, 2015)
(Exhibit 4).
CONCLUSION
The Court should deny Defendant/Counterclaim Plaintiff Alan Dershowitz's motion to
place documents regarding Ms. Giuffre's allegations against him under seal.
I HEREBY CERTIFY that a true and correct copy of the foregoing was sent via E-Serve
to all Counsel on the attached list, this 25f-‘' day of November, 2015.
/s/ Jack Scarola
Jack Scarola
Florida Bar No.: 169440
Attorney E-Mail(s): jsxasearcylaw.com and
mep@searcylaw.com
Primary E-Mail: scarolateamasearcylaw.com
Searcy Denney Scarola Barnhart & Shipley, P.A.
2139 Palm Beach Lakes Boulevard
West Palm Beach, Florida 33409
Phone:(561) 686-6300
Fax:(561) 383-9451
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 18 of 20
SEAN D. REYES
Utah Attorney General
By: JONI J. JONES
JOEL A. FERRE
Assistant Utah Attorneys General
Bradley J. Edwards
FARMER, JAFFE, WEISSING,
EDWARDS, FISTOS & LEHRMAN, P.L.
425 North Andrews Avenue, Suite 2
Fort Lauderdale, Florida 33301
Telephone (954) 524-2820
Facsimile (954) 524-2822
E-mail: bradapathtojustice.com
And
Paul G. Cassell
Pro Hac Vice Motion Pending
S.J. Quinney College of Law at the
University of Utah
383 S. University St.
Salt Lake City, UT 84112
Telephone:801-585-5202
Facsimile:801-585-6833
E-Mail:cassellp@law.utah.edu
Attorneys for Plaintiffs Bradley J. Edwards and Paul G. Cassell
COUNSEL LIST
Thomas Emerson Scott, Jr., Esquire
Thomas. scott@csklegal.com; Steven.safraacsklegal.com
Cole Scott & Kissane P.A.
9150 S Dadeland Boulevard, Suite 1400
Miami, FL 33156
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 19 of 20
Phone: (305)-350-5329
Fax: (305)-373-2294
Attorneys for Defendant
Richard A. Simpson (pro hac vice)
rsimpsongwileyrein.com
Mary E. Borja (pro hac vice)
mborjawileyrein.com
Ashley E. Eiler (pro hac vice)
aeiler@wileyrein.com
WILEY REIN LLP
1776 K St. NW
Washington, DC 20006
Phone: (202) 719-7000
Fax: (202) 719-7049
Edwards, Bradley vs. Dershowitz
Case No.: CACE 15-000072
Edwards and Cassells Response to Dershowitz's Motion to Determine Confidentiality of Court Records
Page 20 of 20
COUNSEL LIST
Sigrid Stone McCawley, Esquire
smccawley@bsfllp.com;
sperkins@bsfllp.com; ftleserve@bsfllp.com
Boies Schiller & Flexner, LLP
401 E Las Olas Boulevard., Suite 1200
Fort Lauderdale, FL 33301
Phone: (954)-356-0011
Attorneys for Alan M.Dershowitz, Esquire
Thomas Emerson Scott, Jr., Esquire
Thomas. scott@csklegal.com;
Steven.safra@csklegal.com;
Renee.nail@csklegal.com;
shelly.zambo@csklegal.com
Cole Scott & Kissane P.A.
9150 S Dadeland Boulevard, Suite 1400
Miami, FL 33156
Phone: (305)-350-5329/Fax: (305)-373-2294
Attorneys for Alan M.Dershowitz, Esquire
Bradley J. Edwards, Esquire
staffefile@pathtojustice.com;
brad@pathtojustice.com;
maria@pathtojustice.com
Farmer Jaffe Weissing Edwards Fistos &
Lehrman, P.L.
425 N Andrews Avenue, Suite 2
Fort Lauderdale, FL 33301
Phone: (954)-524-2820/Fax: (954)-524-2822
Attorneys for Alan M.Dershowitz, Esquire
Ashley Eiler, Esquire
AEiler@wileyrein.com
Mary E. Borja, Esquire
MBorja@wileyrein.com
Richard A. Simpson, Esquire
RSimpson@wileyrein.com
Wiley Rein, LLP
1776 K Street NW
Washington, DC 20006
Phone: (202)-719-4252/Fax: (202)-719-7049
Attorneys for Alan M.Dershowitz, Esquire
Joni J. Jones, Esquire
jonijones@utah.gov
Assistant Utah Attorney General
160 E 300 S
Salt Lake City, UT 84114
Phone: (801)-366-0100/Fax: (801)-366-0101
Attorneys for Paul Cassell
Kenneth A. Sweder, Esquire
ksweder@sweder-ross.com
Sweder & Ross, LLP
131 Oliver Street
Boston, MA 02110
Phone: (617)-646-4466/Fax: (617)-646-4470
Attorneys for Alan M.Dershowitz, Esquire
EXHIBIT F
UNDER SEAL
EXHIBIT G







"
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Message: Politics makes strange bedfellows.

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I am ready to be a big boy about it

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HOUSE_OVERSIGHT_027336
"
IMAGES-009-HOUSE_OVERSIGHT_028005.txt,"demanded a meeting with Dado before our attack in Rue Verdun. Amit died in
the fighting near Ismailia, at the northern end of the canal, as Arik Sharon’s
units pushed on after the crossing. The day before the end of the war, both
Amitai and Amiram Levin were part of an operation to take over the Fayid Air
Base across the canal. When an Egyptian RPG hit their Jeep, Amiram was
wounded. Amitai was killed.

I thought, too, of Yishai Izhar: the friend struck down beside me, who I’d
cradled in my arms on the top of my tank, trying to stop the bleeding.

“Oh Ehud,” Nava said. “It’s like 1967 all over again.”
“No,” I said. “Worse. Much worse.”

A few weeks later, | was coming out of the kirya when I ran into another
friend, whom I’d first met at Hebrew University. Like me, he had been a junior
officer in 1967. His name was Ron Ben-Ishai. He would go on to become a top
journalist, covering the military for Israel’s best-selling newspaper, Yediot
Achronot. In the early autumn of 1967, we were still transfixed by the idea of
being able to visit areas of biblical Israel, which for years had been under
Jordanian rule. With a few other friends who were young officers, nine of us in
all, Ron and I embarked on a trek from the southern edge of Jerusalem, weaving
our way through the Judaean Desert toward Kumeran, on the Dead Sea.

Now a very different war had come and gone. I’d fought in it. Ron, as what
is now called an embedded journalist, had been with Danny Matt’s paratroopers
when they’d crossed the canal. He was alongside another of Arik’s units
fighting out of the bridgehead on the far bank of the canal. That both of us had
seen terrible suffering over the past few weeks did not need saying. But Ron
said he wanted to show me something. Fishing into his wallet, he took out a
carefully folded photograph. He had taken it in 1967, just six years earlier, to
mark our Judaean trek. There we were. All nine of us. Young. Full of optimism.
And probably a bit full of ourselves as well.

Ron and I were the only two left alive.

We had won the war, and not just because our forces were now within 60
miles of Cairo, and only 25 from Damascus. We had been attacked by two huge

157
HOUSE_OVERSIGHT_028005
"
IMAGES-006-HOUSE_OVERSIGHT_021064.txt,"Overview of USA Inc.’s Key Financial Challenges

& Potential and/or Solutions

Financial Net Present Cost! Mathematical Illustrations
Rank Challenge ($T / % of 2010 GDP) and/or Potential Policy Solutions?

* Isolate and address the drivers of medical cost inflation
1 Medicaid $35 Trillion? / 239% — * Improve efficiency / productivity of healthcare system
¢ Reduce coverage for optional benefits & optional enrollees

« Reduce benefits
¢ Increase Medicare tax rate

: Metis ce en eee Isolate and address the drivers of medical cost inflation
¢ Improve efficiency / productivity of healthcare system
* Raise retirement age
* Reduce benefits
Social 5 * Increase Social Security tax rate
: Security oS MIN Snes ¢ Reduce future initial benefits by indexing to cost of living growth rather
than wage growth
* Subject benefits to means test to determine eligibility
vn GDP / * Invest in technology / infrastructure / education

4 -- * Remove tax & regulatory uncertainties to stimulate employment growth

Revenue * Reduce subsidies and tax expenditures & broaden tax base
Growth

Govemment ¢ Resume the 20-year trend line for lower Federal civilian employment
5 oe oe * Implement more flexible compensation systems
Inefficiencies ‘ : : .
* Consolidate / selectively local outsource certain functions
Note: 1) Net Present Cost is calculated as the present value of expected future net liabilities (expected revenue minus expected costs) for each program / issue over the
next 75 years, Medicare estimate per Dept. of Treasury, “2010 Financial Report of the U.S. Government,” Social Security estimate per Social Security Trustees’ Report
4 Pe 2) For more details on potential solutions, see slides 252-410 or full USA Inc. presentation. 3) Medicaid does not have dedicated revenue source and its $35T net

present cost excludes funding from general tax revenue, NPV analysis based on 3% discount rate applied to CBO’s projection for annual inflation-adjusted expenses.
www.kpcb.com USA Inc.| Summary 445

The Essence of America’s Financial Conundrum

& Math Problem?

While a hefty 80% of Americans indicate balancing the budget should
be one of the country’s top priorities, per a Peter G. Peterson
Foundation survey in 11/09...

...only 12% of Americans support cutting spending on Medicare or
Social Security, per a Pew Research Center survey, 2/11.

Some might call this ‘having your cake and eating it too...’

P
a USA Inc. | Summary 446

HOUSE_OVERSIGHT_021064
"
IMAGES-011-HOUSE_OVERSIGHT_031788.txt,"From: Richard Kahn [i

Sent: 6/15/2018 1:06:12 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Trump advisors reportedly seeking a pardon for ‘junk bond king’ Milken

Importance: — High

https://www.cnbe.com/2018/06/15/trump-advisors-reportedl y-seeking-a-pardon-for-junk-bond-king-
milken.html

Trump advisors reportedly seeking a
pardon for ‘junk bond king’ Milken

Tae Kim

Several of President Donald Trump's advisors are pushing him to pardon Michael Milken,
Bloomberg News reported Friday.

Michael Milken, 71, was known as the ""junk bond king"" in the 1980s and was convicted for
securities fraud.

Bloomberg said former White House communications director Anthony Scaramucci,
Treasury Secretary Steven Mnuchin, senior advisor Jared Kushner and attorney Rudy
Giuliani support the pardon for Milken.

Milken has a net worth of $3.7 billion, according to Forbes. The financier, who pioneered
the market for high-yield bonds while at Drexel Burnham Lambert, was sentenced to 10
years in prison and permanently banned from the securities industry by the Securities and
Exchange Commission. His prison term was reduced to two years.

The White House and a spokesperson for the Milken Institute did not immediately respond
to requests for comment.

See the full Bloomberg News report here.

Richard Kahn
HBRK Associates Inc.

575 Lexington Avenue, 4th Floor
New York, NY 10022

Phone

zq  8=S
C iii

HOUSE_OVERSIGHT_031788
"
IMAGES-009-HOUSE_OVERSIGHT_027450.txt,"Sender: e:jeeitunes@gmail.com

Time: 10/09/18 04:50:42 PM (560821842)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 4AR9A4E8-29EF-4C18-A059-C6ED7464D3A2

Message: Yemen / iran / oil - zamel, nader

Sender: e:jeeitunes@gmail.com

Time: 10/09/18 04:51:15 PM (560821875)
Flags: 1085445

Is Read: No

Is Invitation: No

Gl
~~

GUID: 2DCE6377-C87B-4A18-AB1C-2C9017 9AB3!I

Message: Fingerprints everywhere

Time: 10/09/18 04:58:14 PM (560822294)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 59F4A295-F09C-4283-9CEB-A930513B4887

Message: Emir or MBS?

Sender: e:jeeitunes@gmail.com

Time: 10/09/18 05:04:35 PM (560822675)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 3E9DEFBD-1615-4BF0-BB9C-1AEC8E28 9864

Message: ALL! each ! Beyond belief.

Time: 10/09/18 05:07:23 PM (560822843)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 75409411-419F-4CE0-9777-65613051597B

Message: So deeply fucked up-- Brazil, Qatar,
Mexico, Venezuel,Egypt , Russia, China , Africa

Sender: e:jeeitunes@gmail.com

Time: 10/09/18 05:10:31 PM (560823031)

Prinz / 1 mdb / deripaska -

Argentina,
Afghanistan

HOUSE_OVERSIGHT_027450
"
IMAGES-006-HOUSE_OVERSIGHT_021702.txt,"_, Prince Andrew and girl, 17, who sex offender friend flew to Britain to meet him | Mail On... Page 6 of 17

Doe 102 has agreed to waive her anonymity and tell for the first time her deeply disturbing story.

Her real name is Virginia Roberts and she now lives in Australia, where she is a happily married mother
of three.

Over the course of a week during which she spoke at length to The Mail on Sunday, she appeared
sometimes vulnerable, and sometimes steely, but always quietly resolute and consistent.

Revisiting events from a past that she had hoped she had left behind, Virginia occasionally buried her
face in her hands.

Some recollections — and, for reasons of taste, not all the details can be included here — caused her to
flush with shame. ‘I’m telling you things that even my husband didn’t know,’ she said.

Virginia, who has undergone counselling to try to come to terms with her past, is honest about her
initiation into Epstein’s depraved world.

She was a troubled teenager, whose slender figure, delicate complexion, hesitant voice and soulful blue
eyes made her look young for her years.

Born in Sacramento, California, in August 1983, Virginia spent her early years on a small ranch on the
West Coast of America.

This seemingly idyllic childhood ended when she was sexually molested by a man close to her family.

The fallout from that led to her parents temporarily splitting up. Blaming herself, Virginia began to get into
trouble Aged 11, she was sent to live with an aunt but repeatedly ran away.

Living on the streets, she was beaten up and slept with at least two older men in return for food. ‘I was a
paedophile’s dream,’ she says.

Three years later, she was reunited with her family and started a new life with her father who had moved
to Palm Beach,

Florida, where he was maintenance manager at Donald Trump’s country club, Mar-a-Lago.

Virginia got a part-time job as a changing room assistant —which is where, soon after her 15th birthday,
she met Ghislaine Maxwell, who invited her to work as Epstein’s personal masseuse.

‘was wearing my uniform — a white miniskirt and a skin-tight white polo top ~ when | was approached by
Ghislaine,’ Virginia says.

‘I told her | wanted to become a masseuse and she said she worked for a very wealthy gentleman who
was looking for a travelling masseuse.

I'd get training and be paid well.’Virginia’s father gave his blessing, believing his daughter was being
handed the opportunity to learn a skill and to work for a wealthy and respectable employer.

He drove her to Epstein’s pink mansion on the Palm Beach waterfront — he also owns a nine-storey home
in New York, the city’s biggest private residence; a 7,500-acre ranch called ‘Zorro’ in New Mexico and
Little Saint James, a private 70- acre atoll in the US Virgin Islands.

http://www.dailymail.co.uk/news/article-1361039/Prince-Andrew-girl-17-sex-offender-frie... 3/16/2011

i — - - _

HOUSE_OVERSIGHT_021702 |
"
IMAGES-009-HOUSE_OVERSIGHT_026996.txt,"HOUSE_OVERSIGHT_026996
"
IMAGES-007-HOUSE_OVERSIGHT_022642.txt,"March 27, 2014 at 8:26 pm — Log in to Reply

Tonistimmel, yes, the Secret Service guards the president. Today I question the sense of honor and/or discretion
of all politicians and government officials. This is no longer the America we were brought up in. And, Iam not
sure any of them have those qualities, or good intentions they once had.

eee

49,
99airforce

March 27, 2014 at 8:33 pm — Log in to Reply

Do you remember the white water land scandal, the only ones not dead, or in jail were the Clinton’s, when is the
slobbering love affair with the Clinton’s going to end, 4 great Americans died because of this witch!

50.

Magic1808
March 27, 2014 at 8:43 pm — Log in to Reply

Rocquedog, the latest info is that Chelsea is not slicks daughter, but is the daughter of Webb Hubbell:
http://www.mofopolitics.com/2013/08/23/the-clintons-greatest-shame-chelsea-clinton-is-the-biological-

daughter-of-webb-hubbell/. As for Benghazi, I watched the whole thing go down, as I was online when the first
call for help came in. At the time, they claimed that the attack was because of an anti Islamic video. All the
while, unbeknown to us, we were giving the Syrian Rebels arms, which had already been infiltrated by Al
Nursa/A1 Qaeda. In order to keep it all under wraps, Benghazi took care of all credible witnesses. IMHO.

51.
bobmann101

March 27, 2014 at 8:51 pm — Log in to Reply

We shall see what will happen. I believe he was involved, but I need to see the proof.

SSS a Se wee

52.

Magic1808
March 27, 2014 at 9:07 pm — Log in to Reply

Rocquedog, I agree he is a low life, and Hillary is just as bad. Her relationship with Huma Abedine and
Anthony Weiner leaves room for many questions. Weiner is runner up to slick Willy on preying on young

HOUSE_OVERSIGHT_022642
"
IMAGES-008-HOUSE_OVERSIGHT_024510.txt,"Other costs recorded at the center level include rent, marketing, maintenance, utilities, transportation,
classroom and office supplies, insurance and food. KLC’s management believes its large, combined
nationwide center base gives it the ability to leverage the costs of programs and services, such as
curriculum development, training programs and other management processes.

During fiscal year 2005, KLC experienced a reduction in projected claims costs for its self-insurance
programs. However, management anticipates that premium and claims costs will continue to refiect
market forces, which are beyond KLC’s control.

The Real Estate Transaction did not affect consolidated rent expense, but resulted in an increase of
approximately $96.0 million in annual rent expense of KLC OpCo, which is leasing centers from KLC
PropCo which now has title to substantially all of KLC's owned real property.

Other Operating Expenses

KLC’'s other operating expenses include the costs associated with the field management and corporate
oversight and support of its centers and resiructuring related expenses. Labor related costs are the
largest component of KLC's general and administrative expenses.

Seasonality

New enrollments are generally highest during the traditional fall “back to schocl” period and after the
calendar year-end holidays. KLC attempts to focus its marketing efforts to support these periods of high
reenrallments. Enrollment generally decreases somewhat during the summer months and the calendar
year-end holidays.

Resuits Discussion
Revenue increased to $1.48 billion in 2005, which represents an increase of $35.6 million over 2004.
Gross margin was $340.7 million during the 52 weeks ended December 31, 2005, an increase of $11.1

million, or 3.4%, compared to the same period last year. Adjusted EBITDA during the 52 weeks ended
December 31, 2005, was $238.0 million which was $6.6 million, or 2.9%, above the same period in 2004.

77

HOUSE_OVERSIGHT_024510
"
IMAGES-004-HOUSE_OVERSIGHT_017441.txt,"4.2.12
WC: 191694

As it turned out, I was not able to express my opinions anyway, even in response to their
outrageous mischaracterization of my viewpoint or their comparisons of me to the most evil men
in the world. When I turned to answer one of the bigoted chants, as I always do in these
situations, the police officer in charge gently but firmly insisted that I walk directly to my car and
not engage them. It was an order, reasonably calculated to assure my safety, and it was right.

The officer climbed into my car with me and only got out a few blocks away, when we were
beyond the range of violence. The intimidation had succeeded. I had been silenced, and the false
and horrible message had gone unanswered in the plaza near Faneuil Hall.

I have experienced similar hatred around the world: in California, Toronto, Trondheim, Cape
town, London and Paris. I needed police protection—sometimes with shields and bulletproof
vests—when I spoke about Israel. I never saw anything like this hatred directed at the South
African Apartheid regime in the 1970s and 1980s. Even during the worst days of McCarthyism,
there was nothing like this even directed at Stalin’s Soviet Union or Mao’s China. And there was
nothing like this directed at the German Nazi regime or the Italian Fascist regime in the 1930s.

The hatred directed at Israel—calling it worse than Nazi Germany and Apartheid South
Africa—is sui genesis. It is unprecedented on campuses around the world, and it was inevitable
that it would cross the line into old fashioned and crude anti-Semitism, as it has done on many
campuses and in many lecture halls.

I could not remain silent in the face of this dangerous phenomenon. I decided therefore to
prioritize my legal and human rights work in defense of Israel and the Jewish community as long
as this threat persisted.

I had wanted to write a book called 7he Case For Peace, in which I criticized both sides of the
Arab-Israeli conflict for not doing enough to bring about a compromise peace. Instead, I decided
to write Zhe Case For Israel, in order to provide students with a factual basis for responding to
the untruths that are rampant on campuses. The book became an instant best seller, both on
campuses and around the world, where it was published in many languages. It helped change the
terms of the debate on many campuses and it changed the minds of many people. One example is
particularly gratifying. An Arab man named Kassim Hafeez wrote an article in October of 2011
entitled From Anti-Semite to Zionist. In it, he described his journey as follows:

“Growing up in a Muslim community in the UK I was exposed to materials condemning
Israel, painting Jews as usurpers and murderers. My views were reinforced when I
attended Nakba Day rallies where speakers predicted Israel's demise.

My hate for Israel and for the Jews was fuelled by images of death and destruction, set to
the backdrop of Arabic melodies about Jihad and speeches of Hizbollah leader Hasan

Nasrallah or Osama Bin Laden.

There was also constant, casual antisemitism around me. My father would boast of how
Adolf Hitler was a hero, his only failing being that he didn't kill enough Jews.

354

HOUSE_OVERSIGHT_017441
"
IMAGES-011-HOUSE_OVERSIGHT_031950.txt,"10

In a civil war, a society is divided into armed camps that, initially at
least, are roughly the same size. That’s not the case in Syria, where
the uprising is backed by an overwhelming majority against a
government that’s dominated by a small minority — the Ba’ath Party.
To make matters worse, the Ba’ath is dominated by the Nusairi
(Alawite) religious minority, a mere 5 percent of the population.
Thus, Syria’s is a nationwide revolution against a minority regime.
Almost all Syrians agree that the situation is untenable. Assad’s
policy of rule by massacre has few supporters outside his clan.
Judging by the revolution’s most popular slogan — “Assad Get Out!”—
a majority may support demands for Assad to stand down, as
suggested by Jordan’s King Abdullah.

Nevertheless, the Assad clan still controls enough military and
financial assets to continue its rule-by-massacre strategy.

The result could be the disintegration of the Syrian army and the
emergence of armed groups beyond the control of either the
government or the Syrian National Council, the opposition’s
umbrella organization. That could lead to violence spilling into
neighboring countries, especially Iraq and Lebanon.

Rather than speculating about a civil war, the Arab League and the
international community should focus on the dangers that the Syrian
situation poses for regional peace.

A Franco-British resolution on Syria won a majority at the UN
Security Council last month but was killed by Russian and Chinese
vetoes. The Security Council should take up the issue again — this
time to debate the threat to the region.

Last month, Russia and China tried to justify their vetoes by claiming
that the Arab states were divided over Syria. This wasn’t true then
and is less so now. The Arab League has suspended Syria’s
membership and condemned the rule-by-massacre policy. Arab

HOUSE_OVERSIGHT_031950
"
IMAGES-003-HOUSE_OVERSIGHT_015050.txt,"don’ t have to. They have an ample supply of other people’ s evil
thoughts to draw upon.

This is the husband and his wife again. The ones who don’ t want to
have a baby yet. Now the calendar says that the time is sterile. How
convenient. Now they can make love without stopping. And without
worrying. But they’ re good, consistent Catholics. And so they are
worrying. Because they know that evil thoughts are evil. Their evil thought
is to have intercourse but to avoid having a baby. They can’ t be sure they
won’ t have a baby--that’ s why the rhythm system is moral--but the
intention is there. Tomorrow they will go to confession.

Postscript:

| wrote the above piece in 1958 (before the Pill), and it turned out to
be theologically correct in 1984, when Pope John Paul II warned that the
rhythm method of birth control can be “an abuse if the couple is seeking

in this way to avoid children for unworthy reasons.”

HOUSE_OVERSIGHT_015050
"
IMAGES-004-HOUSE_OVERSIGHT_016987.txt,"von Neumann and others on computers came directly not from Turing Machines but
through this bypath of neural networks.

But simple neural networks didn’t do much. Frank Rosenblatt invented a learning
device he called the perceptron, which was a one-layer neural network. In the late sixties,
Marvin Minsky and Seymour Papert wrote a book titled Perceptrons, in which they
basically proved that perceptrons couldn’t do anything interesting, which is correct.
Perceptrons could only make linear distinctions between things. So the idea was more or
less dropped. People said, “These guys have written a proof that neural networks can’t
do anything interesting, therefore no neural networks can do anything interesting, so let’s
forget about neural networks.” That attitude persisted for some time.

Meanwhile, there were a couple of other approaches to AI. One was based on
understanding, at a formal level, symbolically, how the world works; and the other was
based on doing statistics and probabilistic kinds of things. With regard to symbolic AI,
one of the test cases was, Can we teach a computer to do something like integrals? Can
we teach a computer to do calculus? There were tasks like machine translation, which
people thought would be a good example of what computers could do. The bottom line is
that by the early seventies, that approach had crashed.

Then there was a trend toward devices called expert systems, which arose in the
late seventies and early eighties. The idea was to have a machine learn the rules that an
expert uses and thereby figure out what to do. That petered out. After that, AI became
little more than a crazy pursuit.

I had been interested in how you make an AJI-like machine since I was a kid. I was
interested particularly in how you take the knowledge we humans have accumulated in
our civilization and automate answering questions on the basis of that knowledge. I
thought about how you could do that symbolically, by building a system that could break
down questions into symbolic units and answer them. I worked on neural networks at
that time and didn’t make much progress, so I put it aside for a while.

Back in mid-2002 to 2003, I thought about that question again: What does it take
to make a computational knowledge system? The work I’d done by then pretty much
showed that my original belief about how to do this was completely wrong. My original
belief had been that in order to make a serious computational knowledge system, you first
had to build a brainlike device and then feed it knowledge—just as humans learn in
standard education. Now I realized that there wasn’t a bright line between what is
intelligent and what is simply computational.

I had assumed that there was some magic mechanism that made us vastly more
capable than anything that was just computational. But that assumption was wrong. This
insight is what led to Wolfram|Alpha. What I discovered is that you can take a large
collection of the world’s knowledge and automatically answer questions on the basis of
it, using what are essentially merely computational techniques. It was an alternative way
to do engineering—a way that’s much more analogous to what biology does in evolution.

In effect, what you normally do when you build a program 1s build it step-by-step.
But you can also explore the computational universe and mine technology from that
universe. Typically, the challenge is the same as in physical mining: That is, you find a
supply of, let’s say, iron, or cobalt, or gadolinium, with some special magnetic properties,

184

HOUSE_OVERSIGHT_016987
"
IMAGES-012-HOUSE_OVERSIGHT_033327.txt,"From: Richard Kahn

Sent: 11/8/2018 8:46:41 PM

To: Jeffrey Epstein [jeevacation@gmail.com]

Subject: Former NJ Gov. Chris Christie visits the White House as Trump considers him to replace Jeff Sessions as attorney
general

Importance: — High

https: //ww. cnbc.com/2018/11/08/trump-considers-chris-christie-to-replace-sessions-as-attorney-
general. htm]

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue 4th Floor
New York, NY 10022

HOUSE_OVERSIGHT_033327
"
IMAGES-011-HOUSE_OVERSIGHT_030496.txt,"Different kind of fun.
It is fun for a short time but iam already getting sick of so many meetings!

Met your friend bill clinton yesterday followed up with sarkozy. Later in day meeting your other friend prince andrew as he has

some questions re microsoft.
How are you?
boris

Sent from my AT&T Windows Mobile phone.

From: Jeffrey Epstein <jeevacation@gmail.com >
Sent: Thursday, January 28, 2010 7:47 AM

To: Boris Nikolic <i

Subject:

any fun?

3s 2fe 2s fe 2s 2s 24s ois 2fe ois fe fs fe 2c ois 2fe ois fe 2fs fe oie ois 2fe ois fe ois of oie ois 2fe ois 2fe fs fe 2c is 2fe ois 2fe of fe 2s ois 2fe ois 24s ois 2s 2s ois ofc ok 2fe os oie 2 ois 2k ok

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com , and
destroy this communication and all copies thereof,
including all attachments.

Bis 2fe FIs 24s 2k 2s 24s is 24s 2s 2s 2s 2 24s ois 2fe ois fe 2s 2 2c ois 2fe ois fe os fe 2c ois 2fe ois fe fs fe 2c ois 2fe ois 2fe 2s 2 24s ois 2fe ois 24s ois fe 2c ois 2s ok 2fe 2s 2k 2c ois 2k 2

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments.

HOUSE_OVERSIGHT_030496
"
IMAGES-007-HOUSE_OVERSIGHT_024233.txt,"Epstein can find himself echoing aspects of
Thomas Piketty on the inequities of the accumulation of
wealth (“the divide is between people with assets, which
appreciate, and people without assets, who fail to
advance—that is, of course, the miracle of compounded
interest’), except for the fact that Epstein, knowing the
rich, understands a point that Piketty doesn’t: “Nobody,
nobody, wants to give it all to their children. Everybody
now has the modern appreciation that one of the curses
of great wealth is that it can make your kids weird and
fucked up.”

Epstein’s position in this private allotment of a
decent fraction of the U.S. Gross Domestic Product is
not as a philanthropist but as a sort of adviser or guru or
brain—a rich whisperer—making him, in addition to
rich himself, arguably among the most influential people
you’ve only heard of for reasons that have nothing to do
with his influence.

Epstein sometimes seems to have an out-of-body
attitude toward his own fate and bad press—that’s
something that occurs in a less interesting parallel
world. Not long ago, when I met him for lunch in New
York, he noted that he hadn’t been out to lunch in a
restaurant in ten years. It was a not particularly pleasant
experience for him and we were done in 30 minutes.

On the other hand, Epstein’s life sometimes seems
part of a purposeful challenge: not just look at me, but
do you even believe what you see? But, perhaps, he is

HOUSE_OVERSIGHT_024233
"
IMAGES-010-HOUSE_OVERSIGHT_028690.txt,"medium-range missiles unable to reach
Israel. It has no second strike capability. As
President Ahmadinejad stressed during his
visit to Cairo last week, Iran has no
intention of attacking Israel. Its posture is
purely defensive.

If Obama were to act with boldness and
vision, he could defuse a nagging problem
which has plagued the region for years. It is
surely time for the United States to draw
Iran into the regional community of nations
and put an end to 34 years of unremitting
hostility.

Patrick Seale is a leading British writer on
the Middle East. His latest book is The
Struggle for Arab Independence: Riad el-
Solh and the Makers of the Modern Middle
East (Cambridge University Press).

Article 4.

The Washington Post

What path now for Syria?

David Ignatius

February 12, 2013 -- Syrian opposition
fighters appear to be making significant
gains on the battlefield this week,
following an offer by their top political
leader for negotiations with the regime of
President Bashar al-Assad.

HOUSE_OVERSIGHT_028690
"
IMAGES-008-HOUSE_OVERSIGHT_026307.txt,"decisions on all the underlying structural policy matters damaging America’s long-term prospects

and distorting our democracy. No more kicking the can down the road.

e This candidate should also pledge to push for laws passed that reflect the will of simple majorities
in Congress. Congress now only allows bills to move forward when a “majority of a majority”
supports the policy and on many levels seems fundamentally broken. This third-party president
could force votes based on a transparent reading of where the votes lie via coalition building. The
Senate filibuster power will present a high hurdle, but a third-party candidate would be a de facto
disruptor of the two-party system. Party discipline could well break down, and moderates in both
parties could form a powerful, decisive block willing to work with the new President. The policies
passed into law may not be ideal for either Democrats or Republicans, but for the major agenda
items that must be addressed for America’s long-term health, an imperfect fix that corrects course

is better than those that now have us hurtling toward national bankruptcy.

And if no candidate secures 270 electoral votes in 2020? The House of Representatives would choose the
next president. In 2016, reports suggested Michael Bloomberg declined to run on a third-party ticket for
fear of splitting support from Hillary Clinton and throwing the election to a GOP-controlled House of
Representatives who would then vote to select the president. The fear was the GOP controlled House

would have just elected Trump.

Would Democratic control of the House mean that the House would pick an alternative to Trump as
president? Each state delegation has a single vote in selecting a president and it is the incoming Congress
- the class elected in 2020 that would decide the election. But no matter which party has the speaker’s
chair, the GOP would almost certainly have the upper hand in the majority of state delegations controlled.
Would the state delegations pick a president based on party majority control of the delegation, the
winner of the popular vote in each state or their own calculations as to who is best for America?
Precedent suggests that delegations use secret ballots, which means individual lawmakers may vote their

consciences.

HOUSE_OVERSIGHT_026307
"
IMAGES-001-HOUSE_OVERSIGHT_010901.txt,"Case 9:08-cv-80736-KAM Document 291-1 Entered on FLSD Docket 01/21/2015 Page 11 of
20

and wants. I told Epstein about Andy’s sexual interests in feet. Epstein thought it was very
funny. Epstein appeared to be collecting private information about Andy.

40. | When I got back from my trip, Epstein paid me more than he had paid me to be
with anyone else — approximately $15,000. That money was for what I had done and to keep my
mouth shut about “working” with the Prince.

41. The second time I had sex with Prince Andrew was in Epstein’s New York
mansion in spring 2001. I was 17 at time. Epstein called me down to his office. When I got
there, Epstein was there, along with Maxwell, Johanna Sjoberg, and Andy. I was very surprised
to see him again. Epstein and Maxwell were making lewd jokes about “Randy Andy”.

42. Thad the impression that Andy had come there to see Epstein and to have sex me
with. There was no other apparent purpose for Andy to be there.

43. I was told to go upstairs with Andy and to go to the room I thought of as the
“dungeon” (the massage room, but it is really scary looking). I had sex with Andy there. I was
only paid $400 from Epstein for servicing Andy that time.

44, The third time I had sex with Andy was in an orgy on Epstein’s private island in
the U.S. Virgin Islands. I was around 18 at the time. Epstein, Andy, approximately eight other
young girls, and I had sex together. The other girls all seemed and appeared to be under the age
of 18 and didn’t really speak English. Epstein laughed about the fact they couldn’t really
communicate, saying that they are the “easiest” girls to get along with. My assumption was that
Jean Luc Brunel got the girls from Eastern Europe (as he procured many young foreign girls for
Epstein). They were young and European looking and sounding.

45. Afterwards we all had dinner by the cabanas. The other girls were chatting away

among themselves, and Epstein and the Prince chatted together. I felt disgusted, and went

10

HOUSE_OVERSIGHT_010901
"
TEXT-001-HOUSE_OVERSIGHT_028611.txt,"From: Weingarten, Reid 
Sent: 1/23/2019 2:42:14 AM 
To: J [jeevacation@gmail.com] 
Subject: Re: 
Have thought many, many things about you over the years.....never thought you were my cheryl..... 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Tuesday, January 22, 2019 5:51 PM 
To: Weingarten, Reid 
Subject: Re: Re: 
im not sheyl, frankly i havent been involved in this at all except for the ridiculousness . we will resolve it by 
end of month. . 
On Tue, Jan 22, 2019 at 11:47 PM Weingarten, Reid > wrote: 
Ok....but give me an idea what follows the but....otherwise I will imagine the worst.... 
From: J [mailto:jeevacation@qmail.com] 
Sent: Tuesday, January 22, 2019 5:43 PM 
To: Weingarten, Reid 
Subject: Re: Re: 
i suggest we wait until face to face yes he fucked up. but 
On Tue, Jan 22, 2019 at 11:40 PM Weingarten, Reid > wrote: 
So....remarkably...in the middle of dealing with thiss the Steptoe numbercrunchers advise me Jeffrey has paid about 
450 and owes about 300 and seems disinclined to make Steptoe whole.....hhhhhmmmm....first reaction is déjà vu.... 
How the fuck are we back here after the unspeakably awful evan barr debacle.... More to the point just tell me where 
you are on this....did miller fuck up? Something else? As you know I am the 800 pound gorilla here, Steptoe is not 
going to chase you down for the money but there are 500 lawyers here, processes, etc...... 
From: J [mailto:jeevacation@gmail.com] 
Sent: Tuesday, January 22, 2019 4:04 PM 
To: Weingarten, Reid 
Subject: Re: 
do you think he has the goods? 
On Tue, Jan 22, 2019 at 9:57 PM Weingarten, Reid < wrote: 
Not my new guy...not repping him 
Sent from my BlackBerry 10 smartphone. 
HOUSE OVERSIGHT 028611 
From: J 
Sent: Tuesday, January 22, 2019 3:43 PM 
To: Weingarten, Reid 
Subject: Re: 
you seemed to imply that your new guy could only shoot blanks? if thats so. its an easy decision. , if 
not. oy 
On Tue, Jan 22, 2019 at 9:09 PM Weingarten, Reid < > wrote: 
Still have to figure out what my role is in all this shit... 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Tuesday, January 22, 2019 3:07 PM 
To: Weingarten, Reid 
Subject: Re: 
Fun 
On Tue, Jan 22, 2019 at 3:05 PM Weingarten, Reid < 
Crim 
Sent from my BlackBerry 10 smartphone. 
> wrote: 
From: J 
Sent: Tuesday, January 22, 2019 3:04 PM 
To: Weingarten, Reid 
Subject: Re: 
Civil or crime 
On Tue, Jan 22, 2019 at 2:59 PM Weingarten, Reid < > wrote: 
Turns out you were right about sdny but they are ""going to wait their turn""... 
Sent from my BlackBerry 10 smartphone. 
From: J 
HOUSE OVERSIGHT 028612 
Sent: Monday, January 21, 2019 8:01 PM 
To: Weingarten, Reid 
Subject: Re: 
? 
On Mon, Jan 21, 2019 at 6:26 PM Weingarten, Reid < > wrote: 
I will at some point....what time do you leave tomorrow 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Monday, January 21, 2019 6:24 PM 
To: Weingarten, Reid 
Subject: Re: 
are you nuts. im a cowardly warm blooded jew. call me 
On Mon, Jan 21, 2019 at 6:18 PM Weingarten, Reid < > wrote: 
You are not in nyc now are you? 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Monday, January 21, 2019 5:43 PM 
To: Weingarten, Reid 
Subject: Re: 
Im told southern District trying yo get out a rico claim against the org 
On Mon, Jan 21, 2019 at 5:41 PM Weingarten, Reid < 1> wrote: 
Jesusfuckingchrist....give me one of them....ready for a change 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Monday, January 21, 2019 5:39 PM 
To: Weingarten, Reid 
Subject: Re: 
HOUSE OVERSIGHT 028613 
I have two more bidders 
On Mon, Jan 21, 2019 at 5:38 PM Weingarten, Reid < > wrote: 
At cheryl's...sitting with her...watching trump shit...is Google going to happen? 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Monday, January 21, 2019 5:36 PM 
To: Weingarten, Reid 
Subject: Re: 
What number are you on? I won't talk sensitive, i want to tell you google 
On Mon, Jan 21, 2019 at 5:21 PM Weingarten, Reid < wrote: 
Then I am going to have to make change the world decisions without you...(I am in london 
tomorrow-friday but I assume you are going to paris) 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Monday, January 21, 2019 4:41 PM 
To: Weingarten, Reid 
Subject: Re: 
im off to europe, tomorrow. . 
On Mon, Jan 21, 2019 at 4:37 PM Weingarten, Reid < > wrote: 
Privileged - Redacted 
Sent from my BlackBerry 10 smartphone. 
From: J 
Sent: Monday, January 21, 2019 4:14 PM 
To: Weingarten, Reid 
Subject: 
HOUSE OVERSIGHT 028614 
Privileged - Redacted 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
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HOUSE OVERSIGHT 028615 
includingdes tr destroy this l all
attachments. 
communication  copyright oapnydri aglhltcoaplliersigthhtesreof, reserved 
please note 
The information contained in this communication is 
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Unauthorized use, disclosure or copying of this 
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communication in error, please notify us immediately by 
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HOUSE OVERSIGHT 028616 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
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please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
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communication in error, please notify us immediately by 
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please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
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please note 
HOUSE OVERSIGHT 028617 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
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communication in error, please notify us immediately by 
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The information contained in this communication is 
confidential, may be attorney-client privileged, may 
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Unauthorized use, disclosure or copying of this 
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The information contained in this communication is 
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Unauthorized use, disclosure or copying of this 
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please note 
HOUSE OVERSIGHT 028618 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
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Unauthorized use, disclosure or copying of this 
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HOUSE OVERSIGHT 028619 
"
TEXT-001-HOUSE_OVERSIGHT_031340.txt,"From: paul krassner 
Sent: 8/1/2018 11:59:13 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Jones is crazier than Trumpo the Elephant 
Attachments: facebook_2.png; twitter.png; rss.png; logo.png; screen_shot_2018-07-24_at_10.54.49_am.png; 1.jpg 
Importance: High 
000 
SEARCH 
Top of Form 
Search form 
Search 
Search 
Bottom of Form 
TE NET 
TRUMP TRAUMA 
ELECTION '18 
ECONOMY 
RIGHTS 
EDUCATION 
MEDIA / CULTURE 
ENVIRONMENT / FOOD 
HEALTH 
NEWS & POLITICS 
'You're Going to Get It, or I'm Going 
to Die Trying, Blchl: Alex Jones 
Issues Stunning Threat to Mueller 
And Pantomimes Shooting Him 
The conspiracy theorist ended a deranged rant about pedophilia by 
threatening the special counsel. 
By Chris Sosa / AlterNet 
• 
Print 
194 COMMENTS 
HOUSE OVERSIGHT 031340 
Photo Credit: info Wars (YouTube) 
Conspiracy theorist Alex Jones threatened special counsel Robert Mueller during a Monday episode 
of his InfoWars show, miming a shooting and saying he would ""die trying"" to take Mueller down. 
Jones began by making unfounded claims about Mueller and Jeffrey Epstein, who was convicted of 
solicitation of a minor for prostitution in 2008. 
""That's the thing, is like, once it's Mueller, everyone's so scared of Mueller, they'd let Mueller rape 
kids in front of people, which he did,"" Jones said. ""I mean, Mueller covered up for a decade for 
Epstein kidnapping kids, flying them on sex planes, some kids as young as seven years old 
reportedly, with big perverts raping them to frame people."" 
SPONSORED 
HOUSE OVERSIGHT 031341 
""That's a demon I will take down, or I'll die trying,"" Jones continued. 
Jones made repeated shooting gestures as he closed out the rant. 
""It's not a joke. It's not a game. It's the real world. Politically. You're going to get it, or I'm going to die 
trying, b*tch,"" Jones concluded. ""Get ready. We're going to bang heads. We're going to bang heads."" 
Watch the clip below: 
HOUSE OVERSIGHT 031342 
"
IMAGES-010-HOUSE_OVERSIGHT_028848.txt,"From: Loi to

Se

To:

Su

nt: 4/27/2014 6:55:07 PM
Epstein Jeffrey [jeevacation@gmail.com]
bject: Re: NYTimes: Sanctions Revive Search for Secret Putin Fortune

Attachments: signature.asc

Im

ca

On Apr 27, 2014, at 04:41 , Jeffrey Epstein <jeevacation@gmail.com> wrote:

ae i * you havetime
On Sun, Apr 27, 2014 at 6:54 AM, Joi Ito <_- wrote:

VVVVYV

portance: High

n you talk now?

> President Obama’s response to the Ukraine crisis, while derided by critics as slow and weak, has

reinvigorated a 15-year global hunt for the Russian leader’s hidden wealth.

> http://ww.nytimes.com/2014/04/27/world/sanctions-revive-search-for-secret-putin-

fo

>

VVVVVVVVVVVVV VV VV VV

rtune. html ?smid=nytnow-share&smprod=nytnow

Sent from my iPhone

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
Jeffrey Epstein
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

Please use my alternative address, P to avoid email auto responder

HOUSE_OVERSIGHT_028848
"
IMAGES-005-HOUSE_OVERSIGHT_019025.txt,"Date:
Time:

Case

7/13/06 PALM BEACH POLICE ee, Page: 72
9:27:55 Incident Report Program: CMS3011L

No. . . . : 1-05-000368 , (Continued)
purchase several gifts and provide them as tips to the girls. I asked
what kind of gifts. Rodriguez stated he purchased IPODS, jewelry,
anything the girls would want.

Rodriguez stated the amount of girls that came to the house was
approximately fifteen. Each of the girls knew each other and all
seemed to know at who Mr. Epstein was.
When asked to identify these girls, Rodriguez stated he could not at
the moment but knew he wrote their names down on a journal he kept
during his employ with Mr. Epstein. He kept a journal in the event he
needed to explain either to Mr. Epstein or his assistants what was
done at the house or who visited the house as he stated he was
in-charge of Mr. Epstein's personal security while in Palm Beach. I
informed him I would need to view this journal to which he stated he
would research the book and contact me to provide the book. The
interview was concluded and left the area. I returned back to the
police station where the micro cassette was placed into evidence. At
approximately, 7:20 pm, I was notified Rodriguez located the journal
and would call me on January 5, 2005 to provide the journal.

Investigation Continuesaa

RREEERREERREKRERREEKEEKRRERRREREE NARRAT I V EB # BA KEKRKRKEKRRERKEREEKKKERERRRRER
NA Reported By: RECAREY, JOSEPH 1/09/06
Entered By.: ALTOMARO, NICKIE A. 1/10/06
On January 5, 2006, I attempted to meet with Alfredo Rodriguez to b6
recover the folder or journal in which he kept the notes. that were b7c

given to him during his employ with Mr. Jeffrey Epstein. He kept this
folder to justify what he did during his employ should the need arise
to justify what occurred with the monies he had to keep or any
questions as to the petty cash he withdrew from the household account
from the bank. At approximately 10:00 pm, I attempted contact with
Mr. Rodriguez and discovered he was assisting his wife at her place of
employment and would not be able to meet with me. Mr. Rodriguez
stated he would meet with me on January 6, 2006, in Broward County, in
the morning hours.

On January 6, 2006, at approximately 9:00 am, I received a telephone
call from Mr. Rodriguez who advised he had the file in hand and would
be traveling northbound to meet with me in Broward County. At 10:50
am, I met with Alfredo Rodriguez at the parking lot of Bank of America
in Boca Raton on Yamato Road and Military Trail (known as the Polo
Center). Rodriguez produced a green folder which contained documents,

a note with Mr. Epstein's stationary with direction to deliver a
bucket of roses tol Jafter[..__]
high school drama performance. Also in that same note was direction
to rent a car for and direction to extend the rental
contract. I returned to the Palm Beach Police Station and placed the

folder into evidence.

I received a fax from Verizon from the subpoena request sent on

: a a - HOUSE_OVERSIGHT_019025
"
IMAGES-002-HOUSE_OVERSIGHT_013068.txt,"152 8 Cognitive Synergy

— Example: A virtual dog wants to achieve the goal G of getting food, and it knows that
the procedure P of begging has been successful at this before, so it seeks a context C
where begging can be expected to get it food. Probably this will be a context involving a
friendly person.

e PLN-based goal refinement is used to create new subgoals G to sit on the right hand side
of instances of the cognitive schematic.

— Example: Given that a virtual dog has a goal of finding food, it may learn a subgoal of
following other dogs, due to observing that other dogs are often heading toward their

food.

e Concept formation heuristics are used for choosing G and for fueling goal refinement, but
especially for choosing C (via providing new candidates for C). They are also used for
choosing P, via a process called “predicate schematization” that turns logical predicates
(declarative knowledge) into procedures.

— Example: At first a virtual dog may have a hard time predicting which other dogs are
going to be mean to it. But it may eventually observe common features among a number
of mean dogs, and thus form its own concept of “pit bull,” without anyone ever teaching
it this concept explicitly.

Where analysis is concerned:

e PLN inference, acting on declarative knowledge, is used for estimating the probability of
the implication in the cognitive schematic, given fixed C, P and G. Episodic knowledge
is also used this regard, via enabling estimation of the probability via simple similarity
matching against past experience. Simulation is also used: multiple simulations may be
run, and statistics may be captured therefrom.

— Example: To estimate the degree to which asking Bob for food (the procedure P is “asking
for food”, the context C is “being with Bob”) will achieve the goal G of getting food, the
virtual dog may study its memory to see what happened on previous occasions where it
or other dogs asked Bob for food or other things, and then integrate the evidence from
these occasions.

Procedural knowledge, mapped into declarative knowledge and then acted on by PLN in-
ference, can be useful for estimating the probability of the implication C A P > G, in cases
where the probability of C A P, > G is known for some P, related to P.

— Example: knowledge of the internal similarity between the procedure of asking for food
and the procedure of asking for toys, allows the virtual dog to reason that if asking Bob
for toys has been successful, maybe asking Bob for food will be successful too.

Inference, acting on declarative or sensory knowledge, can be useful for estimating the
probability of the implication C A P > G, in cases where the probability of Cy A P > G is
known for some C} related to C.

— Example: if Bob and Jim have a lot of features in common, and Bob often responds
positively when asked for food, then maybe Jim will too.

Inference can be used similarly for estimating the probability of the implication CA P > G,
in cases where the probability of C A P > G, is known for some G, related to G. Concept

HOUSE_OVERSIGHT_013068
"
IMAGES-011-HOUSE_OVERSIGHT_032281.txt,"US Presidential Election Report

This report is based on data collected from 1st September till date. We have processed
around 8.6 million tweets during this period, a little more than 4 million tweets for each

candidate. However not all tweets have a geographical location.

Donald Trump

Out of 4.2 million Trump impressions 17.72% are positive and 63.76% are negative.
Remaining are neutral. He was doing OK this month but became very unpopular after
9th September.

He is most popular in New York. 18.71% of his positive impressions are in NY. He is
getting hammered in Florida. Only 2.98% positive and 12.56% of negative impressions

are in FL. The table below shows top states with positive and negative impressions of

Trump.
New York — (18.71%) California — (19.85%)
Colorado — (17.70%) North Carolina — (18.86%)
California — (13.86%) Florida — (12.56%)
North Carolina — (8.07%) Texas — (11.36%)
Texas — (6.71%) Louisiana — (7.71%)
Arizona — (5.53%) Arizona — (7.40%)
Illinois — (5.15%) New York — (5.75%)
New Jersey — (3.16%) Ohio — (2.83%)
Florida — (2.98%) Washington — (2.45%)
Louisiana — (2.96%) Georgia — (1.91%)
Hillary Clinton

Out of 4.4 million Clinton impressions 4.07% are positive and 89.84% negative.

qin

Remaining are neutral. 1 September was her worst day of this month. She had

around 0.7 million negative impressions on that day and 0.4 million on 14"" September.

HOUSE_OVERSIGHT_032281
"
IMAGES-008-HOUSE_OVERSIGHT_026313.txt,"papers from a woman (who later dropped her lawsuit) that Donald Trump and Epstein had
raped her when she was 13, Bannon said in response to Ivanka, “What about the allegations
about her dad and that 13-year-old?”

Epstein has previously used his millions to cultivate the world’s most powerful — but has

mostly given money to Democrats.

From 2001 to 2003, Bill Clinton flew on Epstein’s private plane, dubbed “The Lolita Express,”

26 times. Epstein is close to Prince Andrew and was aregular at Trump’s Mar-a-Lago.

Trump told New York magazine of Epstein in 2002, “Terrific guy. He’s a lot of fun to be with.
It is even said that he likes beautiful women as much as I do, and many of them are on the

younger side.”

Epstein, 65, pleaded guilty in 2008 to soliciting prostitution from a teen and served 13 months

in jail.

Last year, he reportedly paid millions to settle three lawsuits filed against him by teens.
Bannon’s rep didn’t comment. A lawyer for Epstein said, “Let me ask him,” but didn’t respond

by deadline.

HOUSE_OVERSIGHT_026313
"
IMAGES-010-HOUSE_OVERSIGHT_028684.txt,"housing market and rising employment,
and of course if some broader deal can be
struck on entitlements and taxes.
Immigration reform and gun-control
legislation driven by a functional
bipartisanship would cement that legacy.
He'd be an historic rather than a great
president.

Two clocks tick down in a president's
second term: the drive for legacy and the
reality of lame duckery. Obama's political
capital will diminish quickly. Where, how,
and on what he wants to spend it 1s critical.
The Middle East is violent and volatile and
may yet suck him in, but if he can avoid it,
he'll try. This was a State of the Union
address that stressed fixing America's
broken house, not chasing around the world
trying to fix everyone else's. The future of
America isn't Cairo or Damascus; it's
Chicago and Detroit.

Aaron David Miller is a distinguished
scholar at the Woodrow Wilson
International Center for Scholars.

Article 3.

Agence Global

Can the United States
Strike a Deal with Iran?

HOUSE_OVERSIGHT_028684
"
TEXT-001-HOUSE_OVERSIGHT_027536.txt,"qnurrp, Fintrw. B\Macintosh HD\root\Users\jee\Library\Messages\Archive\2018-12-0411111 
__________________ on 2018-12-04 at 13.29.25.ichat 
Service: iMessage 
Start Time: 12/01/18 05:04:14 AM (565362254) 
End Time: 12/04/18 02:26:55 PM (565655215) 
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Message: today i have nobel prize winner friend richard axel and misha grosov , 
smartest living mathematician . at 5. . you are welcome. any updates on boston? 
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HOUSE OVERSIGHT 027536 
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Message: I had three China guys today . I told them they should brief you. Therr is s 
forty year anniversary in Beijing of the beginning of economic growth initiative 
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Message: Im aware , -it was decribed as both stronger but much more brittle 
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communist 
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Message: ) less so. . as their last hope for control. . fy , i go to harvard at 10 
and return at 7 pm and tom pritzker lunch on monday in ny if you are still here 
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Message: winning the long game from our side. requires short losses. hui, said to 
my friend , they have moved from econmic growth model to endurance model. 
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iranians. 
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Message: Trump worst negotiator in human history 
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Message: Art of war - 1st chapter 
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Message: Li hu . - he almost smiled . That's how bad 
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Message: https://www.thedailybeast.com/jeffrey-epstein-settles-for-malicious-
prosecution 
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point of leverage 
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about that and pushed that @ the press conference 
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friend Steven hawking 
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HOUSE OVERSIGHT 027548 
"
IMAGES-001-HOUSE_OVERSIGHT_010915.txt,"manage them. This book doesn’t say how. It will open that can of worms, and others

too, and try to track some but not all to their destinations. One look leads to another.

This shows that I’m not an optimist in the sense of making rosy predictions. But I
seem to show that bias in evaluations. I’m two thirds Panglossian. (Doctor Pangloss
was the guy in Voltaire’s Candide who said that this is the best of all possible
worlds.) I side with the good doctor in that I cannot imagine an improvement to this
world or to the human race. I see the dangers and evils, such as Armageddonists, as
somehow part of the scheme. The world would not be better if it posed no threats
and challenges to solve. To solve them is not to wish them away. The stories of
Aladdin’s lamp and the monkey’s paw tell us that each wish after the first is to undo
the one before. I think that’s what Shaw was telling us in Don Juan in Hell. Don Juan
and the others are free to go to heaven whenever they like, and occasionally do.

They come back because they can’t stand the boredom.

Where I find fault, and differ with Pangloss, is as to the doctrines we are taught.
Whatever | study, I seem to find a good measure of nonsense taught along with
wisdom. This book is about what | find of both in economics. And a problem | try to
solve, not wish away, is the danger of losing sight of the points on which Pangloss

was right. My verse and music try to remind us.

And [Il admit a bias for the surprises my title promises. I love upending what we
had all assumed. Fun! And all the more fun when | can show that famous economists
had already seen and said some of the same things I do when we read those
economists again. Surprise need not be true novelty. My free growth theory is really
John Stuart Mill’s, although no one seems to have noticed the paragraph I quote
from him. My next generation theory really belongs to my 17%-century rhymesake
Sir WilliamPetty, who happens to be my nominee for greatest economist of all time.
In a way, I could also credit it to the period of production theorists John Rae, Nassau
Senior, William Stanley Jevons and Eugen von Boehm Bawerk. They need only to

have considered human and total capital as explained by Petty two centuries before.

Forward By The Author 04/18/16 3

HOUSE_OVERSIGHT_010915
"
TEXT-001-HOUSE_OVERSIGHT_031354.txt,"﻿NOBEL CHARITABLE TRUST
”Thinking About the Environment and Technology”
* Unauthorized use of information, postings and distributions are strictly prohibited. For information, please contact the Nobel Charitable Trust at info@nobelcharitabletrust.org
The Nobel Charitable Trust 1
Vision
”We envisage a world in which alternative, renewable and sustainable energy sources will be freely accessible to all members of
society. A world in which solutions have been found and successfully implemented to meet the present and future needs whilst
avoiding environmental threats.
Mission
”Nobel Charitable Trust seek to encourage and push forward the development and use of products, procedures, research and
initiative within the domain of renewable and sustainable energy in order to fulfil our vision and to create general awareness of
this matter”
Nobel Charitable Trust Scholarship
The scholarship shall be awarded at every award ceremony to the person or persons who, have shown the most inventive and
effective development or discoveries within the fields of alternative, renewable and or sustainable energy.
Candidates are most likely to be found amongst young researchers and inventors from all over the world. Companies,
organisations, politicians and others could also be candidates so long as they fulfil the criteria above and, of course, that their
efforts are available for the benefit of all mankind.
A scholarship committee with seven members will make the selection for the winner of the scholarship. The members will be
national and international experts on sustainability
Persons eligible to receive the NCT Scholarship will be limited to selected young researchers.
The scholarship will be awarded at every award ceremony , with the first award to be granted in 2012 (tentative)
The winner will receive, in addition to the recognition and honour bestowed by the scholarship, a cash prize .
1
Nobel Charitable Trust 2
Purpose of Efforts
◆Contributing to the stable preservation of our planet and the development of our environment through sustainable energy resources by providing
grants to efforts in the fields of natural conservation, natural resources and energy, education, culture and other relevant areas.
◆Support activities to improve children’s environments and education conditions and provide learning experiences around the world as children
will bear the future of energy.
Description of Activities
Engage in activities such as disclosing information on environmental improvement, formation of a fund division, obtaining support from researchers in the
field of environmental improvement, providing grants to corporations, organizing environment forums and expos etc.
Promote exchange of information by networking with charity organizations.
Seek and review support members amongst organizations and corporations, and work to expand networks and disclose information relating to
environmental improvement mainly throughout East Asia.
Establishing Certificates of Merits and NCT Awards for Fields in Environmental Technology,
Contribution to Society, Environmental Design, Renewable/Alternative/Sustainable Energy
With recommendations from a qualified committee, various awards will be granted to individuals and/or organizations who have attained the best
achievements or most practical inventions in the above fields. (Selection from 4 Categories – Politician, Researcher, Artists, Corporations)
◆Awards shall be granted at every selection ceremony. A medal/certificate /scholarship will be awarded in accordance with the various awards.
◆Individuals Candidates will be selected from around the world – Scientist who have made a contribution through sciences, politicians who have made a
contribution through policies, artists who have made a contribution through the arts.
◆Organizations: Candidates will be selected from around the world - When an organizations or corporation that have made a contribution through their
products has been selected, such invention (product) shall be granted with the NCT accreditation mark..
◆NCT is a non-profit organization and has no connection to any political organization, corporations or government agencies.
Grants
1. Grants to researches and projects relating to water, natural resources and energy
2. Grants to researches in natural conservation, education, culture and other relevant areas.
3. Grants to projects that educate the younger generation on environmental, educational and
cultural issues.
4. Grants to researches and projects in the above fields conducted in foreign countries,
especially in developing countries.
5. Other projects necessary for NCT to fulfill its objectives.
Services to Members
● Distribution of The “Nobel Family”, a monthly web mail service.
● Providing consulting, information and education on technologies for environmental
improvement
● Information on seminars and other events hosted by NCT
2
The Nobel Charitable Trust 3
NCT’s Board Members (The Nobel Family Society)
The Nobel Family Society is a private society of which only the descendants of Immanuel
Nobel, father of Robert, Ludvig and Alfred Nobel, are eligible as members. The 4 Nobels of
the Nobel Family Society below are NCT’s founders and board members.
Nobel Family Society Members
Michael Nobel Born in 1940
Chairman of NCT Asia, Former
Chairman of NCT Switzerland
2007-2009/former Chairman of the
Board of Directors of the Nobel
Family Society /former Chairman
of the Appeal of the Peace Prize
Laureates Foundation. Michael
obtained his PH D. in pyschopedagogy
from the University of
Lausanne. He is knowledgeable in
the fields of economics and
environmentology, has deep ties
with Japanese Universities and
has been honored with many
awards.
Gustaf Nobel Born in1950
Appointed Chairman of NCT in
Switzerland in Jan.2009.. After
studies at University of Lund,
Sweden, in marketing and
economics he started his career as
an international businessman
working in more than 15 countries
all over the world. Over the last 8
years he has become very much
involved in environmental projects
and renewable energy solutions,
as well as recycling of refuse, and
is an authority in the field.
Peter Nobel Born in 1953
Trustee of NCT in Switzerland.
Peter is a graduate with MSc in
Material Science and Engineering
from The Royal Institute in
Stockholm. Peter is a well-known
businessman and entrepreneur. A
major part of his experience relates
to energy associating product
programs, product and technology
development activities targeting
environmental concerned segments.
Peter works extensively with
supporting clean technologies for
environmental improvements and
energy saving programs.
Philip Nobel Born in 1970
Trustee of NCT in Switzerland.
In Switzerland Philip studied
marketing and economics. He
then moved to the Bahamas in
2006 and is currently actively
involved in environmental issues
all throughout the Caribbean
islands; he’s an active member of
the Bahamas National Trust as
well as the Nature Conservancygroup
whose aims are to preserve
and to improve the natural
environment of the islands and its
surrounding waters.
3
Nobel Charitable Trust 4
Membership Structure
Preparatory Committee NCT Organization Phase 1
Founders Honorary Directors
Board of Directors
20
10
Representatives of the Founders: Board of Advisory 10
Michael Nobel
Board of Trustees 10
Mom Luang Rajadarasri Jayankura Office Staff 6
Members
Regular Members 80 members 1 year Membership based on recommendations and donations
Support Members Corporate 1 year Annual membership fee
Individuals 1 year Annual membership fee
Honorary Members 20 members Membership based on recommendations from regular members
Support Members will be corporations, organizations, municipalities and public entities that support NCT’s objectives and activities.
Corporate Membership will be based on business units, where HQ, branch offices and factories all acquire separate membership.
Board Members
●Michael Nobel, a member of the Nobel Family Society, shall be NCT’s chairperson.
●Candidates for board members include Prince Charles, the 45 th Vice President of the United States, Al Gore, Hubert Hermes, Crown Prince Abdulla of Saudi
Arabia, Prince Ruport Lowenstein, the 42 nd President of the United States, Bill Clinton, and other prominent figures who can address the quintessence of
environmental issues.
(Photos below:★ are confirmed, ●are candidates)
Candidates for Board Members
佐々木正シャープ前社長
● Sim Farar
ソフトバンク顧問
野口健藤原紀香倉本聰毛利衛桜井和寿イルカ
★ Jenie Kang
Director WM Welfare
Foundation ISF of YPO
International Member
★ HRH Prince
Faisal bin Turki
Al-Faisal
Founder of
GSSI
★ Mom Luang
Rajadarasri Jayankura
Great Great
Granddaughter of His
Majesty, King Rama IV
of Thailand
54th U.S.
Representative to the
United Nations underthe
Clinton Administration
※Pictures are all images
●Nancy Davis Rickel
Chairman of Nancy Davis
Foundation
4
4
"
IMAGES-011-HOUSE_OVERSIGHT_032295.txt,"Landon Thomas, Jr.
Financial Reporter
New York Times

http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.h
tml

HOUSE_OVERSIGHT_032295
"
IMAGES-005-HOUSE_OVERSIGHT_019031.txt,"Date: 7/13/06 a. BEACH POLICE DEPARTMENTS Page: 78

Time: 9:27:55 Incident Report Program: CMS301L

Case No. ... : 1-05-000368 . (Continued)
[__]stated she met with an unknown massage therapist and had the b6
table already set up in a guest room. — her clothing, b7C

leaving her panties on, and wrapped herself with a towel for the
massage. [J remembered that the door to the guest room was closed
but not locked. As the therapist was working her back, the door was
opened by Epstein and entered into the room. [7___]was trying to
conceal herself as Epstein was talking to her about his chiropractic
session. Epstein toldaL__] turn over onto her back.

eventually turned over exposing her breasts to Epstein as he applied
pressure on her shoulder and her waist. [7] stated Epstein ""popped""
her back. | ae her self from the table, got dressed and left
the house. further stated[__] had attempted to call her on
several occasions to invite her back to Epstein's house to which

or Jeffrey Epstein. It should be noted that her mother,

replied ""I'm busy.""(_____] advised she has not had contact with either

was present during the interview. The interview was
concluded and we thanked them her for their time.

KRKKKEKEKREKRKEREREEEREERERERE NARRATIVE Ho JQ KEKE KKKKKAKKKE KEKE ER EKER KEKE

NA Reported By: RECAREY, JOSEPH 1/31/06
Entered By.: ALTOMARO, NICKIE A. 1/31/06
On January 27, 2006, I made telephone contact with Christina Venero,
at ol Venero is a licensed massage therapist who had
frequented the home of Jeffrey Epstein. Ms. Venero has been unable to

meet with me in Palm Beach County, and because she lives and works in
Port St Lucie, a telephone interview was conducted. I explained to.
Ms. Venero that there was an on going investigation involving Jeffrey
Epstein.

Venero stated she knows Epstein and has been employed by him for
approximately three years. Epstein has paid Venero to perform Swedish
Massages (Deep Tissue) on him and other guests. Venero explained that
approximately three year ago she met Ghislaine Maxwell and Jeffrey
Epstein through a mutual friend. Epstein and Maxwell were looking for
a massage therapist. Venero stated since that time, she is notified
when Epstein is coming to Palm Beach. Venero stated she comes to his
house and provides the massage or massages. Venero explained she has
also massaged his guests and assistants. Venero continued that she is
paid $100.00 and hour for the massage.

I asked Venero if anything occurred during the massage that would have
made her feel uncomfortable. Venero stated she only provided massages
and that was it. She never was approached for anything else. I asked
if Bpstein ever asked her to rub his chest she stated she would not
rub his chest as that is not part of her massage. enero explained
that she was not Epstein's ‘type. The girls she would see at Epstein's
house were very thin, beautiful and without tattoos. Venero explained
she has several tattoos that are visible. Maxwell and Epstein have
commented negatively about her tattoos previously when she has
provided massages.

HOUSE_OVERSIGHT_019031
"
IMAGES-009-HOUSE_OVERSIGHT_027444.txt,"Is Invitation: No

GUID: 6AC13154-F801-48AE-9145-8F847C407B88
Message: Sorry

Sender: e:jeeitunes@gmail.com

Time: 10/02/18 04:25:52 PM (560215552)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: 41CB975E-ACB5-4D31-A32E-52E85C8966E4
Message: https
trump-after-ny-times-report-2018-10-02

Sender: e:jeeitunes@gmail.com

Time: 10/02/18 04:26:06 PM (560215566)

Flags: 1085445
Is Read: No
No

Is Invitation:

GUID: 6H6C40EB-F76B-4483-854C-A4A42602E

EOB

Message:

10/02/18 04:36:06 PM

Surprise surprise gomer

Time: (560216166)

Flags: 1060865
Is Read: Yes
Is Invitation: No

GUID: 6314DA0A-9637-4FE2-B616-326F869F6

Message: Bad bad bad

Time: 10/02/18 04:37:14 PM (560216234)

Flags: 1052673

Is Read: No

Is Invitation: No

GUID: AC354D54-448F-4 9AC-BED8-EEB162199
Message: Just heard from senior produce
that ny state AG indicts shortly after

406

ea

AQ

r @ 60 minutes
mid terms

(

://www.marketwatch.com/story/new-york-launches-tax-investigation-into-

who won is 24t Emmy last night)

HOUSE_OVERSIGHT_027444
"
IMAGES-006-HOUSE_OVERSIGHT_021716.txt,"Sides argue whether Jeffrey Epstein’s nonprosecution deal violated alleged victims' rights .

ia ve Page 1 of 4

de

ie

beach Daily News

Friday, August 19, 2011 CLASSIFIEL
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Sides argue whether Jeffrey Epstein’s nonprosecution deal violated alleged

victims’ rights
LATEST NEWS

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tournament set at Rosarian
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noise committee withdrawn

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Bridge aesthetics

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Breakers’ roof

North End Georgian-style
house sells for $12.475 million

http://www.palmbeachdailynews.com/news/sides-argue- nether Jeltey ApSene: nonprose...

By DAVID ROGERS
DAILY NEWS STAFF WRITER

Updated: 7:57 p.m. Friday, Aug. 12, 2011
Posted: 7:14 p.m. Friday, Aug. 12, 2071

E-mail | Print | Share | —_ Larger Type

U.S. District Judge Kenneth Marra is set to decide in the coming
days whether the rights of two alleged victims of Palm Beach sex
offender Jeffrey Epstein were violated when the U.S. Attorney’s
Office failed to confer with them before signing a non-prosecution
agreement in September 2007.

Attorneys Brad Edwards and Paul Cassell, representing Jane Doe
No. 1 and Jane Doe No. 2, argued Friday in federal court in West
Palm Beach that the governmeni’s action violated the girls’ rights
under the federal Crime Victims’ Rights Act.

Edwards and Cassell want the agreement nullified and want Marra to
unseal un-redacted plea deal correspondence between the U.S.
Attorney's Office and Epstein’s defense team. If he agrees, that
action could spur a federal case that might expose Epstein to a
longer incarceration if convicted.

After Palm Beach police received a complaint about Epstein in spring
2005, more than 30 young women participated in civil lawsuits that
alleged he lured them to his home for sexually charged rubdowns
and/or sex in exchange for cash when they were minors. Some
cases were dismissed, and others were settled.

Sle-mm-— )0g0ba- AsO
8/19/2011

HOUSE_OVERSIGHT_021716
"
IMAGES-007-HOUSE_OVERSIGHT_022656.txt,"From: Thomas Jr., Landon PY

Sent: 1/9/2015 6:17:14 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: off the record

Importance: — High

Lets have a chat -- you do need to fight back some how. Present evidence that she is lying AND show
the world that you are no longer that guy. You have made changes -- and that this is the past. My
sense is that its TV type thing where you just talk honestly about this/present evidence that its not
true/ and focus on what you have been doing for past five years. Charlie Rose?

But you cant just sit there taking punches like this -- especially wen the British tabs are driving this.
Maybe you go on British TV....
Call me any time.

On Fri, Jan 9, 2015 at 1:08 PM, jeffrey E. <jeevacation@gmail.com> wrote:
Landon. QM the story teller , crafted much of it out of whole cloth. . part of her story , is that
she was at multiple orgies with clinton and speciifically, the minute details of a dinner had on the island with
him, ""he sat on my left. came by black. heli. flown by ghislaine. clinton was NEVER EVER
there, never. it punches a hole in the dershowitz , andrew allegation. making it all apparent that it was
fantasy. and delusional. thoughts. who should break the story.

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

Landon Thomas, Jr.
Financial Reporter
New York Times

HOUSE_OVERSIGHT_022656
"
IMAGES-009-HOUSE_OVERSIGHT_026982.txt,"What is typical jail food?

=| Carter, C/O (2017-present)

Written Jun 15

I work in the local jail here. I haven’t been to any other facilities but apparently we feed our
inmates very well compared to other counties.

Morning: cereal with fruit or ...

Read More »

In Japan, is it rude to leave a shop or restaurant without saying anything if
you do not speak Japanese?

SS"" Shahriar Kabir Saki, knows Japanese

It’s funny how I had this exact question just a few months ago when I first arrived in Japan. So I
asked my Japanese friend and he said that after finishing your meal or pa...

Read More »

When British Airways Flight 38 was about to crash short of the runway at
Heathrow Airport, why did the pilot or first officer yell out ""speed bird, speed
bird"" just before the crash?

Tom Quetchenbach, occasional flyer

HOUSE_OVERSIGHT_026982
"
IMAGES-008-HOUSE_OVERSIGHT_024504.txt,"Kindergartens can be set up by the Ministry of Education, private enterprises, universities, communities

and individuals.

While local governments establish the minimum and maximum fees allowed to be

charged by public kindergartens, private schools are allowed to dictate “reasonable” tuition levels.

Tuition =a 1
|
|

| International
|

Overview of the Major Themes in Education Market in China

Only accept non-PRC citizens

Very high tuition (>US$10,000 per year)

Free to use any curriculum

Usually affiliated with overseas schools

Examples: Shanghai American School, Yew Chung Shanghai

International School, British International School

Public schools with premium facilites and teaching resources
Very difficult to enter (usually requires ""guanxi""}

> Tuition itself not necessarily high, but ""sponsorship fee"" can be
| substantial

Examples: Song Qing Lin Kindergarten, Dong Fang Kindergarten

“Elite” Public |

+ Increasing in numbers over the past few years
Mostly run by locals, but foreign participation is on the rise
Quality and tuition vary considerably
Examples: Elizabeth Kindergarten (local), Victoria Wah Kwong
Kindergarten (Hong Kong), Kid's Castle (Taiwan)

Private

Essentially a public service provided by the government

Typically low tuition {<US$500/yr), requiring substantial government
subsidies

Basic facilities and teaching resources

Some are closing down or switching into private hands as government
wants to reduce expenditure

‘Regular’ Public

[

|
No. of |
Schools

Source: Enspiren.

8.5.2 Saudi Arabia: Market Overview

Saudi Arabia's nationwide public educational system comprises eight universities and more than 24,000
schools. Open to every citizen, the system provides students with free education, books and health
services. The government allocates over 25% of the annual State budget to education.

According to the Ministry of Education, Saudi Arabia prizes education because of its critical importance in
developing the country's human potential. Education is a central aspect of family and community life.
Parents are deeply involved in their children's education, and the close links between home and school
serve to reinforce the structure of the community and the nation.

The government plans to increase the enrollment of 4 to 6-year-olds to 40% by 2014. Additionally, by
royal decree, education is now required for all 4-year-olds. New labor laws also necessitate that
companies employing 50 or more women provide daycare centers. Despite this new series of laws, there
still only exist 1,200 kindergarten schools in Saudi Arabia (42% private and 58% public) to support the
legislative pronouncements. The Company anticipates that, additional capacity will be needed to meet
these social objectives. These trends, as noted by the Ministry of Education in Saudi Arabia have led to
private education facilities opening all over the Kingdom.

8.5.3. United Kingdom: Market Overview

The United Kingdom stands out with consistent rises in its investment in education, not just in absolute
terms, but also relative to national income: Spending on educational institutions increased from 4.3% of
GDP in 1990 to 5.5% in 1995 and 5.9% in 2002. From 1995 to 2002, spending and enrollment in primary
and secondary education has also increased by 36% and 21%, respectively.” Additionally, the country
invests almost twice as much as any other country at the pre-primary level. The rate of participation of 4-

* Source: Kingdom of Saudi Arabia Ministry of Education Deputy Ministry for Planning and Administrative Development General Directorate for
Planning. “The Ministry of Education Ten-Year Plan” 2005.
* Source: OECD, “Education at a Glance 2005.”

FA

HOUSE_OVERSIGHT_024504
"
IMAGES-007-HOUSE_OVERSIGHT_023548.txt,"From: Lesley Groff as

Sent: 3/7/2013 5:32:30 PM
To: Epstein Jeffrey [jeevacation@gmail.com]
Subject: Fwd: INVITE NY OBSERVER 25TH ANNIVERSARY

Importance: — High

Begin forwarded message:

From:

Subject: INVITE NY OBSERVER 25TH ANNIVERSARY
Date: March 7, 2013 7:31:14 AM EST

1

Dear Mr. Jeffrey Epstein

Jared Kushner, New York's youngest powerhouse publisher, is celebrating the 25th Anniversary of the New York
Observer on Thursday, March 14th.

Mayor Michael Bloomberg will be by his side to toast you all.

The Observer is honoring those who have defined and shaped New York since 1987. They are celebrating the cities
best, brightest and most influential in culture,media and finance. The salmon pink pages are revered among New
York's elite as the preeminent voice on power.

The celebration is going to be one of those quintessential New York nights. We are looking forward to seeing you.

XOXO,

Pegey

Jared Kushner, Publisher Joseph Meyer, CEO

Cory Booker Arthur Carter Georgina Chapman Katie Couric Lauren Santo Domingo
Larry Gagosian Mariska Hargitay Carolina Herrera Katie Holmes Woody Johnson
Peter Kaplan Comm. Ray Kelly Ken Kurson Matt Lauer Blake Lively Terry Lundgren
Peter Martins Cynthia McFadden Sean Parker Ron O. Perelman Stephen Schwarzman
Lara Spencer Steve Tisch Donald Trump Ivanka Trump Harvey Weinstein George C. Wolfe

cordially invite you to join them at

THE NEW YORK OBSERVER

HOUSE_OVERSIGHT_023548
"
IMAGES-011-HOUSE_OVERSIGHT_031944.txt,"close ties with the Egyptian military, which still receives $1.3 billion
in American aid each year. American officials hope that whatever
government emerges will continue to support American policy,
including maintaining ties with Israel and distance from Iran.

At the same time, the United States’ standing in public opinion in
Egypt and around the region continues to suffer because of decades
of support for undemocratic governments like the military-backed
system that controlled Egypt under Mr. Mubarak. Remaining aloof
from the debate over the military’s future role here risks reinforcing
those criticisms at a time when democratic changes are giving public
opinion new weight.

As part of its broader outreach, the Obama administration has also
met with the Muslim Brotherhood, the Islamist group whose political
party is poised to win a major role in the country’s new Parliament
and remains the biggest political counterweight to the military
council.

Jacob Walles, a deputy assistant secretary of state, met for the first
time this week with the leaders of the Brotherhood’s newly formed
Freedom and Justice Party at its new headquarters in Cairo. While
American diplomats have had intermittent contacts for years with
Brotherhood lawmakers in the Egyptian Parliament, officials here
said Mr. Walles’s meeting appeared to underscore Mrs. Clinton’s
pledges to cooperate with Islamist parties that respect democracy.
Others said it might instead have been a sign that Washington simply
realized that the Brotherhood was certain to play a crucial role in
Egypt’s future and was likely to win a large bloc of seats in the
parliamentary elections that begin this month.

“They confirmed that they are keen to support the democratic
process, and they will accept any results of the elections and deal
with any government that respects human rights and the rights of
women and minorities and the democratic process,” said Essam el-

HOUSE_OVERSIGHT_031944
"
IMAGES-004-HOUSE_OVERSIGHT_017455.txt,"4.2.12
WC: 191694

I believe that if this case were to come before a court today, in light of the new sensitivity toward

child exploitation, the case would have been cited in favor of Brooke Shields. Eventually the case
was settled and the calendar wasn’t distributed to Brooke’s Princeton classmates. Brooke Shields
went on to a successful career as a multi-dimensional performer.

368

HOUSE_OVERSIGHT_017455
"
IMAGES-011-HOUSE_OVERSIGHT_030482.txt,"Date: Wednesday, August 3 2011 12:55 AM
Subject: Re: basketball player

From:

To: Uncle F Jeffrey Epstein <jeevacation@gmail.com>;

Its such a circus with this politics thing...its ridiculous

Sent via BlackBerry from T-Mobile

From: Jeffrey Epstein <jeevacation@gmail.com >
Date: Tue, 2 Aug 2011 22:40:02 +0200

To:

Subject: basketball player

obama was scheduled to sign the debt bill late yesterday, just hours before the midnig|

ght Treasury deadline that

could have seen the US default on its debts, a national in tar likely t t0 have Had a huge impact on markets

and the global economy.

3s 2fe Ie fe 2fs 2 2c ois 2fe 2s fe 2s 2 24s ois 2fe of fe of 2s 2c ois 2fe ois fe 2s fe 2c ois 2fe ois 2fe fs 2s ofc ois 2fe ois 2fe ois fe 2c ois 2s ois 2fe 2s fe 2c ois 2s ok 2fe ois 2s 2 ok 2k ok

The information contained in this communication 1s
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030482
"
IMAGES-012-HOUSE_OVERSIGHT_033333.txt,"From: Richard Kahn

Sent: 11/29/2018 10:02:09 PM
To: Larry Visoski ME ; Jeffrey Epstein [jeevacation@gmail.com]
Subject: President Trump’s Private Plane Clipped On Ground At LaGuardia Airport

Importance: — High

https: //newyork.cbslocal.com/2018/11/28/president-trumps-private-plane-clipped-on-ground-at-laguardia-
airport/

Richard Kahn

HBRK Associates Inc.

575 Lexington Avenue 4th Floor
New York, NY 10022

HOUSE_OVERSIGHT_033333
"
IMAGES-004-HOUSE_OVERSIGHT_016993.txt,"There’s yet another level, and probably one day it will have a more interesting
name. With knowledge-based programming, we have a way of creating an actual
representation of real things in the world, in a precise and symbolic way. Not only is it
understandable by brains and communicable to other brains and to computers, it’s also
immediately executable.

Just as natural language gave us civilization, knowledge-based programming will
give us—what? One bad answer is that it will give us the civilization of the Als. That’s
what we don’t want to happen, because the Als will do a great job communicating with
one another and we’ll be left out of it, because there’s no intermediate language, no
interface with our brains. What will this fourth level of knowledge communication lead
to? If you were Caveman Ogg and you were just realizing that language was starting,
could you imagine the coming of civilization? What should we be imagining right now?

This relates to the question of what the world would look like if most people
could code. Clearly, many trivial things would change: Contracts would be written in
code, restaurant recipes might be written in code, and so on. Simple things like that
would change. But much more profound things would also change. The rise of literacy
gave us bureaucracy, for example, which had already existed but dramatically
accelerated, giving us a greater depth of governmental systems, for better or worse. How
does the coding world relate to the cultural world?

Take high school education. If we have computational thinking, how does that
affect how we study history? How does that affect how we study languages, social
studies, and so on? The answer is, it has a great effect. Imagine you’re writing an essay.
Today, the raw material for a typical high school student’s essay is something that’s
already been written; students usually can’t generate new knowledge easily. But in the
computational world, that will no longer be true. If the students know something about
writing code, they’ll access all that digitized historical data and figure out something
new. Then they’ll write an essay about something they’ve discovered. The achievement
of knowledge-based programming is that it’s no longer sterile, because it’s got the
knowledge of the world knitted into the language you’ re using to write code.

There’s computation all over the universe: in a turbulent fluid producing some
complicated pattern of flow, in the celestial mechanics of planetary interactions, in
brains. But does computation have a purpose? You can ask that about any system. Does
the weather have a goal? Does climate have a goal?

Can someone looking at Earth from space tell that there’s anything with a purpose
there? Is there a civilization there? In the Great Salt Lake, in Utah, there’s a straight
line. It turns out to be a causeway dividing two areas of the lake with different colors of
algae, so it’s a very dramatic straight line. There’s a road in Australia that’s long and
straight. There’s a railroad in Siberia that’s long, and lights go on when a train stops at
the stations. So from space you can see straight lines and patterns.

But are these clear enough examples of obvious purpose on Earth as viewed from
space? For that matter, how do we recognize extraterrestrials out there? How do we tell
if a signal we’re getting indicates purpose? Pulsars were discovered in 1967, when we
picked up a periodic flutter every second or so. The first question was, Is this a beacon?

190

HOUSE_OVERSIGHT_016993
"
IMAGES-003-HOUSE_OVERSIGHT_015044.txt,"There was, of course, an objective, scientific explanation for what
happened on the stage of Carnegie Hall. According to a textbook,
Physiological Psychology, “It is now rather well accepted that ‘itch’ is a
variant of the pain experience and employs the same_ sensory
mechanisms.” But for me, something beyond an ordinary itch had
occurred that night.

It was as though | had been zapped by the god of Absurdity. | didn't
even know there was such a concept as absurdity. | simply experienced an
overpowering awareness of something when the audience applauded me
for doing what | had learned while | was asleep. But it was only when they
laughed that we had really connected, and | imprinted on that sound. |
wanted to hear it again. | was hooked. And the first laugh was free.

A couple of decades later, as if it was inevitable, | sold a few
freelance pieces to Mad magazine. But when | suggested a satire on the
pros and cons of unions, the editor wasn't interested in even seeing it
because the subject was “too adult.” Since Maad's circulation had already
gone over the million mark, publisher Bill Gaines intended to keep aiming
the magazine at teenagers.

“| guess you don't wanna change horses in midstream,” | said.

“Not when the horse has a rocket up its ass,” Gaines replied.

HOUSE_OVERSIGHT_015044
"
IMAGES-007-HOUSE_OVERSIGHT_024227.txt,"Global Utility White Paper CONFIDENTIAL

e §=Utility Value Chain

The electricity value chain for a modern day fully integrated utility consists of Generation + Transmission
+ Distribution + Customers (see diagram below). Each segment of the value chain is a different business,
with distinct risks and economic drivers. Competition has surfaced in each part of the value chain other
than transmission and distribution (which are fully-regulated assets as they are deemed to be natural
monopolies). Still, regulators have learned to bring indirect competition even to monopoly-regulated
businesses by encouraging returns based on efficiency improvements or benchmarking to comparable
companies.

Basic Structure of the Electric System

Subtransmission
Customer
26kV and 69kV

Transmission Lines
500, 345, 230, and 138 kV

Substation
Step-Down
Transformer

Primary Customer
T3KV and 4 kV

Generator Step Transmission
Up Transformer Customer

Generating Station

138kV or 230kV
Secondary Customer
120V and 240V
Source: US Department of Energy
26 Electron Capital Partners, LLC

HOUSE_OVERSIGHT_024227
"
IMAGES-012-HOUSE_OVERSIGHT_033455.txt,"From: JONATHAN FARKAS

Sent: 4/21/2019 1:21:37 PM
To: jeevacation@gmail.com

Importance: — High

Somers and I talked to trump and Melania last night He looked and seemed very tired but upbeat
Sent from my iPhone

HOUSE_OVERSIGHT_033455
"
IMAGES-003-HOUSE_OVERSIGHT_015722.txt,"32 Are the Androids Dreaming Yet?

it's software that matters. A great computer game is great because it is
cleverly written and has beautiful graphics. The speed of the hardware
might help, but it does not define ‘great’

Can we see these software effects in the brain?

No, unfortunately, this is where our imaging technologies fail. They
lack sufficient resolution. We would need 100,000 times more resolution
to see our thoughts, even assuming we would recognize thought if we saw
it. There is no reason to believe the brain lays out thinking in anything
resembling the computer software we are accustomed to reading.

There is one exceptional group of people that does show a software
difference on a large-scale — chess players. It seems Chess Masters use
a different part of their brain to process information about chess than
you and I. This can be clearly seen on scans of the brain and is such a
gross effect it even shows up in old-fashioned EEGs - where electrodes
are taped to your head. Interestingly the effect can be used to predict
greatness. Players likely to become Grand Masters show they use a
different part of their brain from the rest of us at an early age. Chess
players possess the only large scale wiring difference we know of, but
there is another group with a visible physical difference, London taxi
drivers. Their hippocampi are noticeably larger than the rest of ours. The
hippocampus does many things, but one of its most significant jobs is to
memorize maps. The three years it takes to acquire ‘the knowledge’ and
the subsequent years of navigating London's complex streets give cabbies
a 30% larger hippocampus than the average London resident.

Is Intelligence Static?

We've all seen the headline. Every summer public examination results
come out and every year is pronounced a record breaker! Year after year,
students get better and better grades. This creates a problem. There's is no
better grade than an A — and eventually all students get As. Welcome to
grade inflation — a problem affecting systems the world over, from British
‘A levels to Harvard grade point averages. Newspapers are awash with
stories bemoaning the dumbing down of today’s tests. “Examinations
aren't what they used to be.”

Grade inflation undoubtedly exists and studies of undergraduate
grades show progressive compression into the top grades, most competent
students get ‘As, making it difficult to distinguish a good student from a
great one.

HOUSE_OVERSIGHT_015722
"
IMAGES-004-HOUSE_OVERSIGHT_017333.txt,"4.2.12
WC: 191694

A Dedham, Massachusetts, woman accused four men of rape. Several days later the charges
were dropped because the accuser recanted when approached by the district attorney with
inconsistent forensic evidence along with information that she had falsely accused other men. The
names of the falsely accused men were published in the press, but the false accuser’s name was
withheld.

St. Paul, Minnesota, police determined that within one week, two reported rapes were false. In
the first case, a woman reported being abducted and raped by a man who hid in her car as she
gave a talk to a chemical dependency treatment group at a local high school. When police
checked the story, they found that the treatment group had never heard of her and that she didn’t
own acar. In the second case, a sixteen-year-old girl claimed to have been abducted at a
downtown bus stop, imprisoned in a closet, and sexually assaulted by a man and his son over a
thirty-three-hour period. In reality, the woman had been seen with her boyfriend several times
over that thirty-three-hour period and had apparently been bruised by him. In both cases the
women gave police detailed descriptions of their attackers and in both case the alleged assailants
were black.

A seventeen-year-old girl from Washington State accused three twenty-year-old men of holding
her down and raping her. Several days after the men were arrested, the woman recanted saying
she had the whole thing up out of spite. In a statement to police, the woman admitted, “When I
was leaving [he] called me a whore and a slut...and I became very angry and decided over the
weekend that I would get back.”

In Rhode Island, a college student reported that her former boyfriend raped her at gun point. She
admitted that she made up the entire story after learning that the man she accused was 1,500 miles
away at the time.

In New York, a woman who claimed she was raped at gun point in Central Park was arrested
after it was discovered that she had filed eleven false reports of rape.

In Nebraska, a woman was required to broadcast an apology to a man she had falsely accused of
raping her in order to “get the attention of her husband.”

In Great Britain, a number of highly publicized rape accusations turned out to be false. A
nineteen-year-old girl woman from Lincolnshire accused her former boyfriend of raping her after
she spent the night with a different man. A jilted nurse falsely accused her former lover of
beating her and also falsely accused his best friend of raping her. After analyzing several such
cases, Angela Lambert, a British journalist, concluded that there are “plenty of reasons why a
woman might falsely accuse a man of rape.” She went on to argue that “the belief that all women
are truthful and all men are rapists does not prove us good feminists; quite the contrary. It reveals
us as prejudiced, narrow-minded, and as bigoted as any racist.”*°

%° In recent years numerous inmates serving time for rape based on eye witness identification have been exonerated
by DNA. In these cases, the rapes occurred but the victim misidentified the rapist. Many of these cases involved
black defendants misidentified by white victims.

246

HOUSE_OVERSIGHT_017333
"
IMAGES-012-HOUSE_OVERSIGHT_032993.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032993
"
IMAGES-004-HOUSE_OVERSIGHT_018000.txt,"Case 1:19-cv-03377 Document 1-8 Filed 04/16/19 Page 2 of 16

http://www.vanityfair.com/news/2003/03/jeffrey-epstein-200303

Society

The Talented Mr. Epstein

Lately, Jeffrey Epstein’s high-flying style has been drawing oohs and aahs: the bachelor
financier lives in New York’s largest private residence, claims to take only billionaires as clients,
and flies celebrities including Bill Clinton and Kevin Spacey on his Boeing 727. But pierce his
air of mystery and the picture changes. Vicky Ward explores Epstein’s investment career, his ties
to retail magnate Leslie Wexner, and his complicated past.

by

e Vicky Ward

June 27, 2011 12:00 am

On Manhattan’s Upper East Side, home to some of the most expensive real estate on earth, exists
the crown jewel of the city’s residential town houses. With its 15-foot-high oak door, huge
arched windows, and nine floors, it sits on—or, rather, commands—the block of 71st Street
between Fifth and Madison Avenues. Almost ludicrously out of proportion with its four- and
five-story neighbors, it seems more like an institution than a house. This is perhaps not
surprising—until 1989 it was the Birch Wathen private school. Now it is said to be Manhattan’s
largest private residence.

Inside, amid the flurry of menservants attired in sober black suits and pristine white gloves, you
feel you have stumbled into someone’s private Xanadu. This is no mere rich person’s home, but
a high-walled, eclectic, imperious fantasy that seems to have no boundaries.

The entrance hall is decorated not with paintings but with row upon row of individually framed
eyeballs; these, the owner tells people with relish, were imported from England, where they were
made for injured soldiers. Next comes a marble foyer, which does have a painting, in the manner
of Jean Dubuffet ... but the host coyly refuses to tell visitors who painted it. In any case, guests
are like pygmies next to the nearby twice-life-size sculpture of a naked African warrior.

Despite its eccentricity the house is curiously impersonal, the statement of someone who wants
to be known for the scale of his possessions. Its occupant, financier Jeffrey Epstein, 50, admits to
friends that he likes it when people think of him this way. A good-looking man, resembling
Ralph Lauren, with thick gray-white hair and a weathered face, he usually dresses in jeans, knit
shirts, and loafers. He tells people he bought the house because he knew he “could never live
anywhere bigger.” He thinks 51,000 square feet is an appropriately large space for someone like
himself, who deals mostly in large concepts—especially large sums of money.

Guests are invited to lunch or dinner at the town house—Epstein usually refers to the former as
“tea,” since he likes to eat bite-size morsels and drink copious quantities of Earl Grey. (He does
not touch alcohol or tobacco.) Tea is served in the “leather room,” so called because of the

cordovan-colored fabric on the walls. The chairs are covered in a leopard print, and on the wall

HOUSE_OVERSIGHT_018000
"
IMAGES-009-HOUSE_OVERSIGHT_027322.txt,"Time: 07/08/18 12:35:03 PM (552771303)
Flags: 1085445
Ts Read: No

Is Invitation: No

GUID: 160DC5E3-1D42-48E0-9A7E-OER9D7F89A25D

Message: Free to speak?

Sender: e:jeeitunes@gmail.com

Time: 07/09/18 03:04:03 AM (552823443)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 89A1D227-D000-4FCO-8F92-E1D228C2C884

Message: ?

Sender: e:jeeitunes@gmail.com

Time: 07/09/18 05:41:05 AM (552832865)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: C8563CB4-E038-4BC5-84BA-6F444974C762

Message: Interesting invitations for you , but they need confirmation in London for
wed
Sender: e:jeeitunes@gmail.com

Time: 07/09/18 05:48:37 AM (552833317)
Flags: 1150981
Is Read: No

Is Invitation: No

7

GUID: 0H279F96-539E-41AA-84D5-FF22FC1B3AB9

Message: https://www.marketwatch.com/story/founder-of-worlds-largest-hedge-fund-says
first-day-of-the-war-with-china-has-begun-2018-07-06

Sender: e:jeeitunes@gmail.com

Time: 07/09/18 05:48:37 AM (552833317)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 154FB106-5DAB-4D80-A8C5-F2B93644DF8F

Message: . And people wonder why I suggest he's a dope

Time: 07/09/18 05:56:39 AM (552833799)

HOUSE_OVERSIGHT_027322
"
IMAGES-006-HOUSE_OVERSIGHT_021070.txt,"Gross Debt Level =

Approaching 100% of GDP

USA Gross Federal Debt as % of GDP, 1940 — 2010
FIT wm — ee a = es me nn = i me Hs Ss

100%
80%

60%

Debt Held By
the Public

Gross Debt As % of GDP

40%

20%

0% [ T T T T T T T
1940 1946 1952 1958 1964 1970 1976 1982 1988 1994 2000 2006

KP. Source: White House OMB.
i USA Inc. | Appendix 457

Gross Debt Level =
Would Exceed Current Statutory Limit of $1.43T* Within One Year

USA Gross Federal Debt vs. Statutory Debt Ceiling, 1990 — 2011E
PREG wen mem = ec eae mie en em = ne a ET TC a

mag USA Inc. Gross Debt

Statutory Debt Limit
12,000 ----

10,000 ----------- +--+ 22 nee ee ee ne eee

8000 -------- +--+ +2222 2222 ee ee eee ee eee eee eee ee eens.

Gross Debt ($B)

6,000 -------- +--+ + 2-22 eee

4,000

2,000

0
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010E

KP Note: * As of 1/11. Source: White House OMB.
CB www.kpcb.com USA Inc. | Appendix 458

HOUSE_OVERSIGHT_021070
"
IMAGES-009-HOUSE_OVERSIGHT_028011.txt,"place in the Airya. | realized I was the only available replacement with a similar
background, and sayeret experience. But I was still gaining brigade command
experience. And I couldn’t help feeling the role was intended as a kind of rest-
and-recovery cure because of my illness, not too different from the reason Uzi
had been given the job. Still, I did need rest and recovery. Even if fully healthy,
I’m not sure I could have convinced Motta to change his mind. In my weakened
state, I had no chance.

Skeptical though I was about the job, it opened up a new world to me. The
kirya itself was not new territory. But now, I became exposed to how how the
huge range of intelligence information we gathered was collated, evaluated,
assessed and ultimately applied. Helping with this process was my new
assignment. There were, in fact, two of us. We were both colonels and together
we provided the intelligence background for military operations. I had the post
on inside the military intelligence department. My opposite number was in the
operations department — the more senior role, in a way, because he had a more
direct link to the people actually doing the operations. He was a friend from
officers’ school: Dovik Tamari’s younger brother, Shai. Once a week, Shai and
I put together an assessment report. Then, we’d join Motta’s operations meeting
with the general staff, often attended by the man who’d followed Dayan as
defense minister, Shimon Peres.

The analysis of military intelligence included separate teams for Egypt and
Syria, Jordan and Lebanon, Iraq and other neighboring states, as well as other
countries and superpower relations. It relied on all our raw intelligence material,
from both military intelligence and Mossad, as well as academic and specialist
literature. Each desk dealt not just with military issues, but political and
economic developments. I was responsible, along with Shai and a few others,
for bringing all this together. This meant frequent meetings with members of the
analysis teams. For the first six months or so, I barely uttered a word in these
sessions. I listened, not just absorbing the information but getting to understand
the way the analysts worked and thought.

Our whole intelligence department was responsible for drafting an annual
strategic assessment for the army and the government. The final report was
written by Shlomo Gazit, who had succeeded Eli Zeira as head of military
intelligence. Before we sent it to print, he held a long meeting, inviting the
views of all the military intelligence officers. The focus in 1976, just three years
after the war, was on the risks of a new surprise attack. At the end of the
discussion, however, he said: ““We know we run a real danger for the country if

163
HOUSE_OVERSIGHT_028011
"
IMAGES-005-HOUSE_OVERSIGHT_019757.txt,"The Handler | 269

if not unprecedented for an American intelligence worker to seek
asylum in Russia.

These invitees included some of Putin’s close associates, pro-
government activists, and representatives of both Amnesty Inter-
national and Human Rights Watch. “It was totally bizarre,” said
Tanya Lokshina, the deputy director of Human Rights Watch, who
attended. “Although it was billed as a press conference,” she recalled,
“there was no press or photographers allowed in the room.” Nor was
anyone allowed to photograph or record the event.

Snowden read from a prepared statement accusing the U.S. gov-
ernment of violating the Universal Declaration of Human Rights,
saying he was a victim of political persecution, and concluding, “1
will be submitting my request to Russia today [for asylum], and
hope it will be accepted favorably.” After answering a few questions
posed by the audience, he left the room with Kucherena and Har-
rison by the same door they had entered.

In discussing this meeting, Kucherena told me that Snowden had
not intended to seek asylum in Russia when he arrived on June 23.

® Because he also said he had not met Snowden prior to the day of the ©
conference, I asked how he knew Snowden’s intentions.

“When I accepted the case, I received Snowden’s dossier,” he
answered. “I was able to see all his interviews.”

Presumably, Snowden’s dossier included his interviews with the
FSB, the SVR, and other Russian security services. If so, it would
explain how Kucherena could be so certain that Snowden had
brought “material” with him to Russia that he had not provided to
journalists in Hong Kong. Before meeting with Kucherena, I had
met with Sophie Shevardnadze, who told me that Kucherena had
personally approved the translation of their interview into English.
So I asked Kucherena about the interview. It will be recalled that in
response to a question about whether Snowden had secret mate-
rial with him in Russia, Kucherena had said “certainly.” Was this
exchange accurate?

“It was accurate,” he answered.

Snowden, as we know, had said in Hong Kong that he had only
given journalists some of the state secrets he had stolen and that he

| | Epst_9780451494566_2p_all_r1.indd 269 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019757
"
IMAGES-002-HOUSE_OVERSIGHT_014075.txt,"96 CASSELL ET AL. [Vol. 104

reasonable efforts to notify identified victims of, and consider victims’
views about, prospective plea negotiations, even prior to the filing of a
charging instrument with the court.”?°°

The Department also noted that it provided extensive pre-charging
notifications to victims under the VRRA:

Pursuant to the Victims’ Rights and Restitution Act of 1990 (VRRA), the Department
identifies victims and provides to them service referrals, reasonable protection, notice
concerning the status of the investigation, and information about the criminal justice
process prior to the filing of any charges. The Department’s investigative agencies
provide such services to thousands of victims every year, whether or not the
investigation results in a federal prosecution.?!°

Quantifying the scope of this undertaking with regard to one federal
investigative agency, the Department explained:

[T]he [FBI] alone reports that it provided more than 190,000 services to victims
during the past fiscal year [FY 2011], including case status updates, assistance with
compensation applications and referrals, and counseling referrals. From sexual
assaults mi Indian Country to child pornography and human trafficking to mass
violence and overseas terrorism, FBI victim specialists provide much-needed
immediate and ongoing support and information to victims. The FBI addresses victim
safety issues when needed, providing on-scene response and crisis intervention
services in thousands of investigations. With regard to sexual assault victims, FBI
personnel arrange for and often accompany victims to forensic sexual assault medical
examinations and provide assistance with HIV/STD testing.?!!

In view of the Department’s existing notifications and provision of
services before charges are filed under the VRRA, it is hard to conceive
how any viable claim could be made that it would be difficult to provide
similar nghts under the CVRA. The four rights that would be potentially in
play before charging would be the night to reasonable protection, the nght
to fair treatment, and the nght to confer with prosecutors, along with the
predicate right to notice of these rights.”!”_ The VRRA already requires the
Department to provide reasonable protection, so this would not be an
expanded obligation.?'> Similarly, the Guidelines already require
prosecutors to confer with victims about plea agreements (the most
common situation where victims want to confer), so it is hard to imagine
how extending this right would create any undue burden.*'* Additionally,
the night to “fair treatment” could only be a problem if the Department

209 Td.

710 Td. at 2-3.

211 Td. at 3.

712 18 U.S.C. § 3771 (a)(1), (5), (8), (c)(1) (2012).

713 See 42 U.S.C. § 10607(c\(2) (2006).

214 See ATTORNEY GENERAL GUIDELINES, supra note 52, at 41-42.

HOUSE_OVERSIGHT_014075
"
TEXT-002-HOUSE_OVERSIGHT_032383.txt,"From: Larry Summers 
Sent: 11/28/2016 12:52:19 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Interesting 
Grey is at least reasonably smart. 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
On Nov 28, 2016, at 7:20 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
http://www.foxbusiness.com/politics/2016/05/01/trump-touts-henry-kravis-as-treasury-secretary-again-and-
again-declines.html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032383 
"
TEXT-001-HOUSE_OVERSIGHT_031432.txt,"From: 
Sent: 
To: 
Subject: 
Nicholas Ribi 
2/19/2019 7:25:25 PM 
Jeffrey Epstein [jeevacation@gmail.com] 
The New York Times: Intimidation, Pressure and Humiliation: Inside Trump's Two-Year War on the Investigations 
Encircling Him 
He is crazy!! 
Intimidation, Pressure and Humiliation: Inside Trump's Two-Year War on the Investigations Encircling 
Him 
The New York Times 
President Trump's efforts have exposed him to accusations of obstruction of justice as Robert S. Mueller III, the 
special counsel, finishes his work. Read the full story 
Shared from Apple News 
Sent from my iPhone 
HOUSE OVERSIGHT 031432 
"
IMAGES-008-HOUSE_OVERSIGHT_026475.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 3/24/2018 12:23:00 PM

To: Landon Thomas Jr. |

Subject: Re:

he feels alone. and is nuts !!!, I told everyone from day one. evil beyond belief. mad, and most thought i was

speaking metaphorically. its obvious he could crack. stormy daniels. ? lies after lies aflter lies.

On Sat, Mar 24, 2018 at 8:19 AM, Landon Thomas Jr. <q wrote:
He is scaring the shit out of me now. He could well tank global economy. Can Barrack talk sense to him
anymore?

Maybe it’s time for you to jump in now. Given how he is throwing caution to wind in such epic fashion, why
wouldn’t he take your call?

Give it a shot!
Sent from my iPhone

On Mar 24, 2018, at 5:39 PM, jeffrey E. <jeevacation@gmail.com> wrote:

https://www.thedailybeast.com/how-close-is-donald-trump-to-a-psychiatric-breakdown?ref=home

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this

HOUSE_OVERSIGHT_026475
"
TEXT-001-HOUSE_OVERSIGHT_027250.txt,"Source Entr: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2017-10-201.11 
on 2017-10-20 at 14.42.35.ichat 
Service: iMessage 
Start Time: 10/09/17 09:15:23 AM (529258523) 
End Time: 10/20/17 11:42:35 AM (530217755) 
Last Message ID: 10428 
Chat Room: 
Participants: jee, 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
Sender: 
Time: 10/09/17 09:15:23 AM (529258523) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 19147C99-1E9C-4798-82B3-971B7E131291 
Message: When do you come down? 
Sender: e:jeeitunes@gmail.com 
Time: 10/09/17 11:16:22 AM (529265782) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 9FF10C43-0406-4355-9C7F-B0F97A0F55A9 
Message: I'm in Paris until 23 but can talk on phone anytime 
Sender: e:jeeitunes@gmail.com 
Time: 10/09/17 02:07:55 PM (529276075) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 6CA74F02-13DF-47DB-BE50-A3A6E1E802E1 
Message: Chat? 
Sender: e:jeeitunes@gmail.com 
Time: 10/09/17 02:16:11 PM (529276571) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 03F78FDE-A0B9-49A9-99D9-1869C1F6A770 
Message: Did Clinton change his mind 
HOUSE OVERSIGHT 027250 
Sender: 
Time: 10/09/17 03:25:26 PM (529280726) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 45C34E16-981A-490B-A2FA-06F4E8B7EFB7 
Message: No. Working on dates. Can I call you late tonight or tomorrow? 
Sender: e:jeeitunes@gmail.com 
Time: 10/09/17 03:31:24 PM (529281084) 
Flags: 1150981 
Is Read: No 
Is Invitation: No 
GUID: 5AE36C1C-ADE5-434F-A170-16301B9187BE 
Message: tomorrow 
Sender: e:jeeitunes@gmail.com 
Time: 10/10/17 07:59:44 AM (529340384) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 85695BC6-2F91-44E0-8DA7-EDAA667FBOEA 
Message: Now? 
Sender: 
Time: 10/10/17 08:00:01 AM (529340401) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: A581B5B8-AFB6-44F1-BE33-EED105903981 
Message: Sure. Call me 
Sender: 
Time: 10/10/17 08:18:03 AM (529341483) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: EB19A161-5132-4ECD-A229-C44CD2D8FCA7 
Message: I think It's me. The cell is spotty here 
Sender: e:jeeitunes@gmail.com 
Time: 10/13/17 03:23:22 AM (529583002) 
HOUSE OVERSIGHT 027251 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 93EEB93C-690D-4596-B4BA-088413990262 
Message: Now It's 5.5 billion ? 
Sender: 
Time: 10/13/17 05:59:51 AM (529592391) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: AC4FF785-14C6-4623-AlAB-3ABF51F2BB5F 
Message: Exactly. And that ain't enough 
Sender: 
Time: 10/13/17 05:59:58 AM (529592398) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: EB9C3C39-30A9-4D1B-B8AD-9DF6DFC0F22E 
Message: With no justification 
Sender: 
Time: 10/16/17 12:35:13 PM (529875313) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: C42A386C-1CDC-4014-9CAA-9C4A0F581103 
Message: You have some time to talk? 
Sender: e:jeeitunes@gmail.com 
Time: 10/17/17 03:37:20 AM (529929440) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: A91BD20E-1CA6-473B-951B-414111242449 
Message: Awake? 
Sender: 
Time: 10/17/17 03:37:45 AM (529929465) 
Flags: 1060865 
Is Read: Yes 
HOUSE OVERSIGHT 027252 
Is Invitation: No 
GUID: EAD89D7A-B6EB-4980-9273-6C4928403EBA 
Message: Yes I am 
Sender: e:jeeitunes@gmail.com 
Time: 10/19/17 08:23:33 AM (530119413) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: A6D905A2-5C25-4EC2-808B-717942214D51 
Message: How did it go? 
Sender: e:jeeitunes@gmail.com 
Time: 10/19/17 07:59:07 PM (530161147) 
Flags: 1085445 
Is Read: No 
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GUID: 1E11B9E8-F86B-451F-81D9-CCC123EAE1E4 
Message: ?? 
Sender: 
Time: 10/20/17 06:21:25 AM (530198485) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 14EF65CA-DF6A-450E-AF5A-1079CFAA78BB 
Message: Morning just getting back to DC. It was very formal and he had no data at the 
meeting to justify his numbers they were ""guesstimates"". Suppose to have his Witt 
OBrien people give me the data. They looked a little submissive during the meeting 
Sender: e:jeeitunes@gmail.com 
Time: 10/20/17 10:22:40 AM (530212960) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 210755C0-68D2-471B-A1B2-B2480E2E0C71 
Message: Next step 
Sender: e:jeeitunes@gmail.com 
Time: 10/20/17 10:22:45 AM (530212965) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
HOUSE OVERSIGHT 027253 
GUID: 1079919F-379A-4CD6-AE17-C91C3E38771C 
Message: ? 
Sender: e:jeeitunes@gmail.com 
Time: 10/20/17 10:23:17 AM (530212997) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 2BE428DE-E4A8-4F3D-B101-597E19B7AD62 
Message: Everyone looks submissive next to you 
Sender: 
Time: 10/20/17 11:42:35 AM (530217755) 
Flags: 1052673 
Is Read: No 
Is Invitation: No 
GUID: F3B230F3-DC01-4E0A-8A90-7E02939ACC44 
Message: I think Mapp subdued them. They repeatedly wanted to say things upon my 
inquiry but were stopped by the interruption or Mapp's hand wave. Next step is to push 
for the necessary amount, galvanized voices to lobby, get support, make sure it has 
oversight from feds, take appropriate support and see from there 
HOUSE OVERSIGHT 027254 
"
IMAGES-008-HOUSE_OVERSIGHT_025154.txt,"and professors use in the classroom. It is worth noting that this past spring a professor was actually investigated
by one of these BRTs for assigning CAM as class reading!

""Second, since the article was published, the situation on campus has only worsened. Within a few months after
the article’s release, student demands for censorship had broken out across the country.

""Third, and possibly most importantly, we want to reactivate and deepen the discussion that we started in CAM
about the science of cognitive behavioral therapy (CBT) as a useful lens for looking at any number of modern
problems. CBT is a remarkably simple, successful treatment that helps patients overcome their anxiety and
depression by teaching them how to identify and combat ‘cognitive distortions,’ the wild mental exaggerations
in which the anxious and depressed overindulge. To our knowledge, CAM was the first and only major article to
propose that we should not only use CBT to examine our own inner thoughts, but also the world around us.

""The issue of free speech on campus is extremely hot, and will continue to be for years to come, but virtually no
one besides us is offering a solution that gets to the heart of the problem and can actually help students rather
than simply ridiculing them.

""Regarding the market, when CAM came out, it seemed that this was a uniquely American problem. But just in
the last year, it has spread throughout the UK, and is beginning to appear in Australia. In fact, there has been
major interest in CAM in the UK and European countries. In Europe, I was recently interviewed by
Siiddeutsche Zeitung, Germany's biggest daily newspaper, and Frankfurter Allgemeine Zeitung also ran a major
article. When I recently spoke in Denmark, the president of the University of Oslo chastised me for not
knowing that all the students had read CAM and had been discussing it all year. ""

GREG LUKIANOFF is an attorney and the president and CEO of the Foundation for Individual Rights in
Education (FIRE). He is the author of Unlearning Liberty: Campus Censorship and the End of American Debate
and Freedom From Speech. He has been published in the Wall Street Journal, the Washington Post, the New
York Times, the Los Angeles Times, TIME, the Boston Globe, Forbes, U.S. News & World Report, the Stanford
Technology Law Review, the Chronicle of Higher Education, and numerous other publications.

JONATHAN HAIDT, a social psychologist, is the Thomas Cooley Professor of Ethical Leadership at New York
University's Stern School of Business. His academic specialization is morality and the moral emotions.

Haidt is the author of two books: The Happiness Hypothesis (2006) and The Righteous Mind: Why Good People
are Divided by Politics and Religion (2012), which became a New York Times bestseller. He was named one of
the ""top global thinkers"" by Foreign Policy magazine, and one of the ""top world thinkers"" by Prospect
magazine. His three TED talks have been viewed more than 4 million times. He 1s the founder of
HeterodoxAcademy.org, a collaboration of professors who advocate for increasing viewpoint diversity in
universities throughout the English-speaking world.

-o

VIGILANCE

Who We Trust, What We Believe, and Why

(working title)

by Hugo Mercier

[Proposal; Delivery: 18 months from signed contract; 100,000 words]

""What leads voters to support policies and politicians that make them worse off?"" writes cognitive scientist
Hugo Mercier. ""How could terrorists believe that blowing themselves up will lead to an eternity of bliss? Why
do Dalits —untouchables—endorse a worldview that confines them to the lower echelons of society? Why do
crowd members drive each other into rampaging fury? The common wisdom in psychology and in the social

Brockman, Inc. Frankfurt 2016 Hotlist
-&.

HOUSE_OVERSIGHT_025154
"
IMAGES-004-HOUSE_OVERSIGHT_018028.txt,"Case 1:19-cv-03377 Document 1-12 Filed 04/16/19 Page 3 of 4

During the time that I worked for Epstein, he arranged for me to work on a special
art project at the Ohio mansion of Leslie Wexner. This was in approximately the
summer of 1996. I went to Ohio and stayed at the property to work on the art
projects. I was also babysitting my two younger brother’s and they were staying
with me at Wexner’s mansion.

In addition to my two younger brothers, I also had a younger sister who was fifteen
(15) years old. Maxwell and Epstein took an interest in my younger sister. Epstein
took us to a movie in New York and during the movie he held my younger sister’s
hand and was rubbing her in a sexual manner without my knowledge. He then
contacted my mother and said he wanted to help put my younger sister through a
special school program in Thailand. During the summer of 1996, Epstein and
Maxwell flew my younger sister to their ranch in New Mexico. She was only
fifteen (15) at the time and they directed her take off all of her clothes and get on a
massage table. Maxwell and Epstein then touched her inappropriately on the
massage table. It was not until later in the summer when I called my sister in
Thailand where she was studying that I learned what had happened to her at
Epstein’s New Mexico ranch.

During that same summer of 1996 when I was working on my art project at
Wexner’s mansion, Ghislaine Maxwell and Jeffrey Epstein came to Wexner’s
mansion. They asked me to come into a bedroom with them and then proceeded to
sexually assault me against my will. I fled from the room and called the sheriff's
office but did not get any response. The Wexner’s security staff refused to let me
leave the property. I pleaded with them and my father drover up from Kentucky to
Ohio to help me. I was held against my will for approximately twelve (12) hours
until I was ultimately allowed to leave with my father. Upon my return to New
York, I went to the New York Sixth Precinct police department for help and they
counseled me to contact the FBI to make a report about the assault in Ohio. I called
the FBI and made the report but to my knowledge, the FBI did not take any action
against Epstein or Maxwell. To my knowledge I was the first person to report
Maxwell and Epstein to the FBI. It took a significant amount of bravery for me to
make that call because I knew how incredibly powerful and influential both Epstein
and Maxwell were particularly in the art community.

After the sexual assault, Maxwell and Epstein called me multiple times threatening
me. Maxwell and Epstein contacted my art clients and individuals in the art
community in an effort to ruin my art career. Maxwell and Epstein were successful
and J was shut out of all art related opportunities. Maxwell and Epstein worked in
concert to make sure that my career and my life was ruined. I was terrified of
Maxwell and Epstein and I moved a number of times to try to hide from them.

I have struggled throughout my life as a direct result of Epstein and Maxwell’s
actions against me and my hope is that they will be held accountable for their
crimes. While I am still afraid, I am coming forward because I think it is so
important to do so.

HOUSE_OVERSIGHT_018028
"
IMAGES-007-HOUSE_OVERSIGHT_023206.txt,"would take us 2 years to be ready to edit the footage anyway (The online course is chronological. When I
taped Woody we were still back in 1730. Now we've gotten to the 1920s)

Well, we've now arrived at the season when we'll be editing materials on William Carlos Williams for our
course on Modernism and, as we discussed on Saturday, on poetry and other arts, The Poetry of Art, Sport,
and Play

I would also, of course, love to make a tv episode out of the conversation, but the threshold question is
whether he'll let us use it for anything at all. In case it would matter,

Other performers who have already taped with me include

John Lithgow,
Diane Paulus
Julie Taymor
Nas

Eve Ensler
Damian Woetzel
Kate Burton

Lil Buck Riley
Alfre Woodard
Herbie Hancock
Tony Kushner
Natalia Zukerman

and those who have agreed to tape with me include

Sally Field

Lena Dunham

Yo Yo Ma

Anna Deveare Smith
and more.

Those in other fields include journalists, senators, president clinton ete etc. You've read my pitch before
(many times)

His is one of only two releases that we haven't gotten. What do you think of my chances?

HOUSE_OVERSIGHT_023206
"
IMAGES-006-HOUSE_OVERSIGHT_021058.txt,"Comparing GM & USA, Inc...

General
USA
2010 Motors
2008

Gross Debt as % of GDP 93% 82% Gross Debt as % of Revenue’
Federal Spending as % of GDP 24 114 Total Cost as % of Revenue
Federal Budget Surplus as % of GDP -9 -21 Net Income as % of Revenue
Interest Payments as % of GDP 1 2 Interest Payments as % of Revenue
% of Citizens Receiving Government 36 75 % of Total GM Population2
Subsidy or on Government Payroll Dependent on the company

Note: 1) Gross debt of GM calculated as total liabilities — future OPEB & pension liabilities, as these liabilities are not
reflected in USA gross debt. 2) % of total GM population dependent on the company = all living retirees / (living retirees +
current workers). Source: White House Office of Management and Budget, OECD, Heritage Foundation, General Motors.
www.kpcb.com USA Inc. | Consequences of Inaction 433

...Good News for GM Is It Has ‘Taken Its Medicine’ and Has

Begun to Implement a Successful Turnaround

Basic Framework of GM Turnaround:

e Focus on Expenses

— Eliminated some of the legacy entitlements - swapped employee
healthcare for equity ownership.

— Significantly changed operating efficiency - took out costs so that GM
was able to operate at breakeven at bottom of the cycle and turn cash
flow positive during other parts of its business cycle.

e Focus on Revenue

— Changed business model to move away from lowering cost to
improving vehicle quality, engineering and styling.

KP
www.kpcb.com USA Inc. | Consequences of Inaction 434

HOUSE_OVERSIGHT_021058
"
IMAGES-009-HOUSE_OVERSIGHT_028039.txt,"Chapter Twelve

My own part in the Lebanon war would change dramatically as a result of
that last military exercise in the Sinai. Arik Sharon was now Minister of
Defense, and he came for the final afternoon. From his experience as a frontline
commander — in 1956, 1967 and 1973 — he knew the dunes and wadis and
sprawling expanses of sand as well as any general in Israel. Watching our
intricate mini-war draw to its close, he made no effort to hide his enthusiasm for
the kind of quick, assertive battlefield maneuvers he’d long championed. But
more than that, his closest aide soon began sounding me out on my views about
the long-term organization, force balance and funding for the Israeli military. A
few weeks later, Arik offered me a promotion: a return to the kirya, as a two-
star general, to become head of planning for the armed forces.

I don’t know why he chose me: the Sinai exercise perhaps, the fact he knew
I'd studied “large and complex organizations” at Stanford, or maybe just the
fact our paths had first crossed two decades earlier when I was in Sayeret
Matkal. But even though it meant leaving my division command, especially
tough since the final Sinai withdrawal was approaching, it was an offer I never
contemplated turning down. Not just because of the second star on my uniform.
Ever since the 1973 war, along with a few other senior officers including Dan
Shomron, I had been making the case for a shift to more mobile and less
vulnerable forces and weapons systems. I saw the new role as a chance to help
encourage that critically important change.

There was just one hitch: all senior military assignments required the formal
approval of the chief-of-staff, my old friend Raful Eitan. Raful did manage to
delay things for several weeks. At one point, he even brought to bear a quality
I’d never suspected he had: a sense of humor. “OK, Pll agree to promote
Barak,” he told Arik. The next day, he said he’d meant /itan Barak — a very
good commander, by the way, who had been one of my instructors in officers’
school. Arik insisted, however. My appointment went through.

And one, unanticipated result was that I didn’t just play the field command
role I’d anticipated, from our Cinerama deployments, in Arik’s toweringly
ambitious, ill-planned and ultimately disastrous war in Lebanon. I became part
of months of planning discussions in the Airya before our tanks finally rumbled
across the northern border on the morning of June 6, 1982.

191
HOUSE_OVERSIGHT_028039
"
IMAGES-012-HOUSE_OVERSIGHT_032763.txt,"https://www.thedailybeast.com/how-close-is-donald-trump-to-a-psychiatric-breakdown?ref=home

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032763
"
IMAGES-002-HOUSE_OVERSIGHT_013732.txt,"shift from hyperactivity to motor stereotypy (Paulus et al, 1991). Studies that
followed demonstrated that “q-moment” distributions of heterogeneous scaling
exponents and their relative statistical weightings were useful in making subtle
discriminations between effects of psychopharmacological agents and behavioral
(isolation) influences on animal behavior as well as patterns of simple psychomotor
behavior in normal subjects and schizophrenic patients (Paulus et al, 1994; 1996;
1998; Krebs-Thomson et al, 1998a; 1998b).

Fractal Scaling Measures on Reconstructed Time Series from

Biological Dynamics

Publications involving the applications of various D measures, particularly Dz,
to brain-relevant times series number in the hundreds and are growing
exponentially. The following constitutes a brief review of a representative set of
empirical findings. In doing so, for the reasons discussed below, we ignore what
some might consider the rather abstract and philosophical issue of “determinism”
versus “randomness” or “error” (Sugihara and May, 1990; Casdagli, 1991; Wayland
et al, 1993; Kaplan and Glass, 1992; Kaplan, 1994) since this question is relatively
unproductive with respect to generating new neurobiological insights, novel
experiments or new quantitative approaches to brain dynamics. In addition, as
noted in the final section, this discrimination may not even have definitive theoretical
meaning in that the conduct of much of the rigorous mathematics about
“deterministic dynamical systems” involve Markoff partitions and matrices which are
also the generic operators of formal probability theory (Sullivan, 1979; Kolmogorov,
1950). For example, N-dimensional non-linear Markoff processes can be shown to
capture the dynamics of multidimensional neurobiological processes such as the
EEG (Silipo et al, 1998).

We have also ignored the related issue of the presence or absence of “low
dimensional structure” (Theiler and Rapp, 1996; Rapp, 1995) which, from the
authors’ point of view, resulted from an unfortunately concrete interpretation of the

word “dimensions.” With respect to experimental brain data, dimensions are defined

232

HOUSE_OVERSIGHT_013732
"
TEXT-001-HOUSE_OVERSIGHT_019396.txt,"Department of Economics, Harvard University, v. November 9,2009 
Economics 1545: International Financial and Macroeconomic Policy 
Professor Kenneth Rogoff 
Time and Place: Fall 2009; M, W, 1-2:30 pm., Sever Hall 203 
Office Hours: Littauer Center 216. Mondays 3-4 PM, or by appointment 
Email: (NB. When sending an email pertaining to this course, please put 
""1545"" in the subject header.) 
Teaching Assistant: Thomas Sampson____________________________ 
Staff Assistant: Jane Trahan,__________________________________ 
Overview: 
This is an advanced international finance and macroeconomics course that uses a mix of 
theoretical, empirical and policy frameworks to analyze topical problems in international finance. 
Prerequisites: 
Economics 1011b (preferably) or 1010b (Knowledge of basic calculus will be assumed.) 
Background Texts: (On reserve at Lamont Library, and available for purchase at the COOP) 
• Foundations of International Macroeconomics, by Maurice Obstfeld and Kenneth Rogoff, MIT 
Press, 1996. 
• This Time Is Different: Eight Centuries of Financial Folly, by Carmen Reinhart and Kenneth 
Rogoff, Princeton University Press, 2009, (selected chapters). 
Readings: 
Readings can be accessed online or are available on Reserve at Lamont Library. 
Primary readings are denoted by an * symbol. Supplementary readings will be summarized in 
class but are not required. 
Problem Sets: 
Students are encouraged to work with others on the problem sets, and it is permissible to hand in a 
single answer sheet for up to three students, with all three receiving the same group grade. 
HOUSE OVERSIGHT 019396 
Course Requirements: 
• Midterm: Wednesday October 14 (in-class, closed book; but exam will provide most of the 
basic formulas you might require, to lessen need for memorization). Analytical problems 
on the exam will closely parallel material covered in problem sets (but will generally 
require much less algebra), and the essay problem will relate to a central topic covered 
extensively in class. 
• Final: The final will have a larger essay component than the mid-term. The final will draw 
on the entire course, though any technical material on the final will be closely related to 
material covered in Problem Set III. 
• Short policy paper: You will be asked to write a short policy paper on a topic drawn from 
a list of questions relating to reform of the international monetary system. A one-page 
outline of your paper is due on Wednesday, October 28 or before my first meeting with 
your group, whichever is earlier, and the complete paper is due on Monday November 16. 
These papers will form the basis for class discussions and (depending on class size) in-
class presentations during the final four meetings of the class. The papers are intended to 
be short and succinct—there is an absolute total page limit of 10 double-spaced (12 pt.) 
pages (roughly 2500 words): Only figures and references are excluded in this limit. The 
papers do not need to include any formal analytical or econometric analysis; you may 
write them in a style you find suitable to the question you are addressing. The final exam 
will include (a choice of) essay questions relating to the paper topics that you and your 
classmates have chosen. 
• Problems: There will be 3 problem sets, due Sept 14, Oct. 5 and Nov 16. 
Grades: 
Problems: 10%, Mid-term: 20%, Final: 35%, Paper: 35% 
HOUSE OVERSIGHT 019397 
Topics 
I. MODELS OF EXCHANGE RATES 
*Rogoff, Kenneth, ""Dornbusch's Overshooting Model After Twenty-Five Years,"" IMF 
Staff Papers 49, Special Issue, 2002 (35 pages). (This link is to a slightly earlier version 
that will give you a higher quality printout.) 
*Obstfeld and Rogoff: pp. 513-530. 
Frankel, Jeffrey, and Andrew Rose, 1995, ""Empirical Research on Nominal Exchange 
Rates,"" in G Grossman and K Rogoff (eds), Handbook of International Economics, vol. 3 
(Elsevier). 
Rogoff, Kenneth and Vania Stavrakeva, ""The Continuing Puzzle of Short-Horizon  
Exchange Rate Forecasting,"" manuscript, Harvard University, July 30,2008. 
II. THE PURCHASING POWER PARITY PUZZLE AND RELATED PUZZLES 
*Kenneth Rogoff, ""The Purchasing Power Parity Puzzle,"" Journal of Economic Literature 
34, June 1996,647-68. 
*Obstfeld and Rogoff: pp. 199-225. 
Imbs, Jean, Haroon Mumtaz, Morton 0. Ravn, and Helene Rey, ""PPP Strikes Back:  
Aggregation and the Real Exchange Rate,"" Quarterly Journal of Economics 120(1): 1-43. 
Goldberg, Penny K. and Michael Knetter, ""Goods Prices and Exchange Rates: What Have  
We Learned?"" Journal of Economic Literature 35 (September 1997): 1243-72. 
Taylor, Alan, M., ""Potential Pitfalls for the Purchasing-Power Parity Puzzle? Sampling  
and Specification Biases in Mean-Reversion Tests of the Law of One Price,"" 
Econometrica 69(2) (March 2001): 473-98. 
Reidel, Demian and Jan Szilagyi, ""A Biased View of PPP,"" manuscript, Harvard 
University, February 2005. 
*Gopinath, Gita and Ricardo Rigobon, ""Sticky Borders,"" Quarterly Journal of Economics 
123(2): 531-575. 
HOUSE OVERSIGHT 019398 
III. SPECULATIVE EXCHANGE RATE ATTACKS 
Basic models and empirical issues: Salant—Henderson—Krugman model, multiple equilibria 
(""generation 2""). 
*Obstfeld and Rogoff: pp. 558-567, 635-638, 648-653. 
IV. BANK RUNS AND THE PERSISTENCE OF THE GREAT DEPRESSION 
*Diamond, Douglas and Philip H. Dybvig, ""Bank Runs, Deposit Insurance, and  
Liquidity,"" Journal of Political Economy 91(3): 401-19, June 1983. 
*Bernanke, Ben, ""Nonmonetary Effects of the Financial Crisis in the Propagation of the  
Great Depression,"" American Economic Review 73 (June 1983): 257-76. 
Cole, Harold and Lee Ohanian, ""New Deal Policies and the Persistence of the Great 
Depression,"" Journal of Political Economy, 112(4) August, 2004, 779-816. 
Eggertsson, Gauti, ""Great Expectations and the End of the Great Depression,"" American  
Economic Review 98, September 2008, 1476-1516. 
Bernanke, Ben S. Essays on the Great Depression. Princeton University Press, 2000. 
Gorton, Gary and Andrew Metrick, ""Securitized Banking and the Run on Repo,"" Yale 
ICF Working Paper No. 09-14. 
Gorton, Gary and Andrew Metrick, ""Haircuts,"" Yale ICF Working Paper No. 09-15. 
Also: International transmission of the Great Depression via faults in the inter-war gold 
standard. 
*Obstfeld and Rogoff: pp. 626-630. 
*Eichengreen, Barry and Jeffrey Sachs, ""Exchange Rates and Economic Recovery in the  
1930s,"" Journal of Economic History, vol. XLV, no. 4, December 1985, also NBER 
working paper 1498, May 1986. 
V. PERFORMANCE OF EXCHANGE RATE REGIMES 
*Rose, Andrew, ""One Money, One Market: Estimating the Effects of a Common Currency  
on Trade,"" Economic Policy 15(30), April 2000, 7-45. 
Klein, Michael W. and Jay C. Shambaugh, ""Fixed Exchange Rates and Trade,"" NBER 
Working Paper 10696, August 2004. 
HOUSE OVERSIGHT 019399 
*Husain, Aasim, Ashoka Mody, and Kenneth Rogoff, ""Exchange Rate Durability and 
Performance in Developing versus Advanced Economies,"" Journal of Monetary  
Economics 52 (January 2005), 35-64. (Click on Digital Object Identifier (DOI).) 
Baldwin, Richard, Di Nino, Virginia, Fontagne, Lionel, De Santis, Roberto, and Taglioni, 
Daira, ""Study on the Impact of the Euro on Trade and Foreign Direct Investment,"" 
European Economic and Monetary Union Working Paper No. 321, May 2008. 
http://papers.ssrn.com/sol3/papers.cfm?abstract id= 1163774  
Frankel, Jeffrey, ""The Estimated Effects of the Euro on Trade: Why Are They Below  
Historical Effects of Monetary Unions Among Smaller Countries?"" NBER working paper 
14542 (December 2008). 
Tenreyro, Silvana, ""Currency Unions in Prospect and Retrospect,"" manuscript, London 
School of Economics and Political Science, October 2009 
VI. GLOBAL CURRENT ACCOUNT IMBALANCES 
*Obstfeld and Rogoff: pp. 1-84. 
*Obstfeld, Maurice and Kenneth Rogoff, ""The Unsustainable US Current Account  
Position Revisited,"" in Richard Clarida (ed.), G7 Current Account Imbalances: 
Sustainability and Adjustment, University of Chicago Press, 2007 (with revisions). 
Gourinchas, Pierre-Olivier and Helene Rey, 2007, ""International Financial Adjustment,"" 
Journal of Political Economy 115(4), 665-703. 
*Cooper, Richard, ""Global Imbalances: Globalization, Demography, and Sustainability,"" 
Journal of Economic Perspectives, 2008, Issue 3, 93-112. 
Dooley, Michael P., Peter Garber and David Folkerts Landau, ""The Revived Bretton 
Woods System: The Effects of Periphery Intervention and Reserve Management on 
Interest Rates & Exchange Rates in Center Countries,"" NBER Working Paper 10332, 
March 2004. 
VII. GLOBAL CAPITAL MARKET INTEGRATION: ADVANCED COUNTRIES 
*Obstfeld, Maurice and Kenneth Rogoff, ""The Six Major Puzzles in International  
Macroeconomics: Is There a Common Cause?"" in Ben Bernanke and Kenneth Rogoff 
(eds.), NBER Macroeconomics Annual 2000 (Cambridge: MIT Press), pp. 339-390 
(Comments 390-412). Lecture notes. 
*Obstfeld and Rogoff: pp. 161-164. 
Guo, Kai, ""Exchange Rates and Asset Prices in An Open Economy with Rare Disasters,"" 
mimeo, Harvard University, October 2007. 
HOUSE OVERSIGHT 019400 
VIII. GLOBAL CAPITAL MARKET INTEGRATION: DEVELOPING COUNTRIES 
*Kose, M. Ayhan, Eswar Prasad, Kenneth Rogoff and Shang-Jin Wei, ""Financial  
Globalization, A Reappraisal,"" December 2006 (revised version of International Monetary 
Fund, Working Paper WP/06/189, August 2006). 
IX. WHY MONEY FLOWS FROM NORTH TO SOUTH 
*Moral Hazard: Obstfeld and Rogoff: pp. 407- 419. 
Externalities to Human Capital: Robert E. Lucas, 1988, ""Why Doesn't Capital Flow from 
Rich to Poor Countries,"" American Economic Review, May 1990, pp. 92-96. 
Alfaro, Laura, Sebnem Kalemli-Ozcan, Vadym Volosovych, ""Why Doesn't Capital Flow 
from Rich to Poor Countries? An Empirical Investigation,"" NBER working paper 11901, 
December 2005. 
X. JAPAN'S DEFLATION TRAP 
*Krugman, Paul, ""It's Baaack: Japan's Slump and the Return of the Liquidity Trap,"" 
Brookings Papers on Macroeconomic Activity, 1998, v2, 137-205. (including comment by 
Dominguez and Rogoff) (N.B.: Our focus will be on the analytics as covered in the 
HANDOUT). 
Eggertsson, Gauti B. and Michael Woodford, ""The Zero Bound on Interest Rates and 
Optimal Monetary Policy,"" Brookings Papers on Economic Activity 34 (2003), volume 1, 
139-235 
XI. INTERNATIONAL FINANCIAL CRISES 
*Reinhart, Carmen and Kenneth Rogoff, ""Is the 2007 US Sub-Prime Financial Crisis So 
Different? An International Historical Comparison,"" American Economic Review 98 (May 
2008): 339-344. 
*Reinhart, Carmen and Kenneth Rogoff, ""The Aftermath of Financial Crises,"" American  
Economic Review 99 (May 2009): 466-472. 
*Reinhart, Carmen and Kenneth Rogoff, This Time Is Different: Eight Centuries of 
Financial Folly, Princeton University Press, 2009, (selected chapters). 
Reinhart, Carmen and Kenneth Rogoff, ""Banking Crises: An Equal Opportunity Menace, 
manuscript, Harvard University, December 2008. 
*Allen, Franldin, and Douglas Gale, Understanding Financial Crises, Oxford: Oxford 
University Press, 2007, ch 3. 
HOUSE OVERSIGHT 019401 
Geanakoplos, John, ""The Leverage Cycle,"" forthcoming in NBER Macroeconomics  
Annual 2009, Daron Acemoglu, Kenneth Rogoff, and Michael Woodford (eds), April 10, 
2009. 
Bolton, Patrick, Tony Santos and Jose Scheinkman, ""Inside and Outside Liquidity,"" 
mimeo, Princeton University, March 30, 2009, 
Diamond, Douglas and Raghuram Rajan, ""Liquidity Shortages and Banking Crises,"" 
NBER working paper 10071, October 2003. 
Bolton, Patrick, and Mathias Dewatripont, Contract Theory, Cambridge: MIT Press. 
2005, pp. 397-418. 
Gorton, Gary, ""Slapped in the Face by the Invisible Hand: Banking and the Panic of  
2007,"" mimeo, Yale University, April 3, 2007. 
http://papers.ssrn.com/sol3/cf dev/AbsByAuth.cfm?per id=17513  
XII. OIL AND THE GLOBAL ECONOMY 
*Dvir, Eyal and Kenneth Rogoff, ""The Three Epochs of Oil,"" mimeo, Harvard University, 
March 2009. 
XIII. MONEY, EXCHANGE RATES AND PRICES: SELECTED TOPICS, 
SEIGNIORAGE AND COMMODITY CURRENCIES 
Lecture notes on ""Money, Inflation, and Exchange Rates."" 
SECTION II: Paper Topics 
BACKGROUND READINGS 
1. Should Sweden enter the euro system with four years? 
Reade, J.J. and U. Volz (2009a), Too Much to Lose, or More to Gain? Should Sweden  
Join the Euro?, Economics Series Working Papers 442, Department of Economics, 
University of Oxford, Oxford. 
Also see shorter Voxeu essay, Reade, J. James and Ulrich Volze, ""Should Sweden 
join the eurozone?"" http://www.voxeu.org/index.php?q=node/3955  
Grahn, Ralf (2009): 'Swedish opinion on euro turns', Grahnlaw Blogspot, 19 April 
HOUSE OVERSIGHT 019402 
Calmfors, L., H. Flam, N. Gottfries, M. Jerneck, R. Lindahl, J. Haaland Matlary, C. Nordh 
Berntsson, E. Rabinowicz and A. Vredin (1997), EMU: A Swedish Perspective, Kluwer 
Academic Publishers, Boston, Dordrecht and London. 
Baldwin, R, (2006), ""In or Out? Does it Matter? An Evidence Based Analysis of the  
Euro's Trade Effects,"" Center for Economic Policy Research, London. 
Ferreira-Lopes, A, (2008), ""In or Out?"" The Welfare Costs of EMU membership,"" 
Economic Research Center Working paper 14/08, ISCTE, Lisbon University Institute 
Soderstrum, U (2008), ""Re-evaluating Swedish Membership in EMU: Evidence from an  
Estimated Model,"" NBER Working Paper 14519. 
Vaubel, R, (2004), ""A Critical Analysis of EMU and of Sweden Joining It,"" in J. 
Ljungberg (ed), The Price of the Euro, Palgrave Macmillan, NY, 87-95 
European Commission on Economic and Financial Affairs, ""Sweden and the Euro: A 
Factsheet,"" 
http://ec.europa.eu/economy fmance/the euro/your country euro9164 en.htm 
HM Treasury, UK Membership in the Single Currency: An assessment of the five  
economic tests, June 2003 (246 pages). 
Lucrezia Reichlin and Giancarlo Corsetti, ""Should the UK join the euro?"" The Edge 11 
(November 2002): 22-25. A PDF file of the magazine is available at http://www.sais-
jhu.edu/faculty/sandleris/IMT/Readings/R Reichlin ShouldUKjointheEuro.pdf 
Buti, Marco and Vitor Gaspar, The First Ten Years of the Euro, VOX, December 2008. 
Frankel, Jeffrey, The Euro at ten: Why do effects on trade between members appear  
smaller than historical estimates among smaller countries? Dec 2008 
The Single Market and the Euro 
Philip Lane, ""The Real Effects of Monetary Union,"" (2006) Journal of Economic 
Perspectives 20(4): 47-66. 
Frankel, Jeffrey, ""The Estimated Effects of the Euro on Trade: Why Are They Below 
Historical Effects of Monetary Unions Among Smaller Countries?"" NBER working paper  
14542, December 2008 
Buiter, Willem, ""Why the United Kingdom Should Join the Eurozone,"" forthcoming 
International Finance 2008 (Also at NBER.) 
Tenreyro, Silvana, ""Currency Unions in Prospect and Retrospect,"" manuscript, London School of 
Economics and Political Science, October 2009 
HOUSE OVERSIGHT 019403 
2. The US has significant risk (30% or greater) of experiencing pronounced Japan-
like symptoms over the next 5-10 years: especially much lower medium term growth 
than before the crisis, soaring budget deficits, more frequent than usual recessions. 
Giannetti, Mariassunta and Andrei Simonov (2009). ""On the real effects of bank bailouts:  
Micro-Evidence from Japan,"" EFA 2009 Bergen Meetings, June. 
Mariassunta Giannetti Andrei Simonov, The real effects of bank bailouts: Evidence from 
Japan, Voxeu http://www.voxeu.org/index.php?q=node/4011  
Keiichiro Kobayashi, The G20's Blind Spot: President Obama must squarely face the bad  
asset problem, March 26, 2009 
Hoshi, Takeo and Anil K. Kashyap, 2008, ""Will the U.S. Bank Recapitalization Succeed?  
Lessons from Japan"", NBER Working Paper 14401. 
Adam Posen, ""Seven Reasons the US Today is Not Like Japan 15 Years Ago,"" Institute 
for International Economics, September, 2008 http://www.iie.com/realtime/?p=20  
Maurice Obstfeld, ""Time of Troubles: The Yen and Japan's Economy, 1985-2008"" 
NBER Working paper 14816, March 2009 
3. The G-20 is right to focus on containing global (current account) imbalances to 
well below their pre-crisis levels (say to roughly half or less within four years). US 
must achieve higher national savings rate, if necessary substantially strengthening 
financial regulation and oversight. China must allow its exchange rate to 
significantly appreciate over time, and redirect production towards domestic 
demand instead of exports. 
Obsteld, Maurice and Kenneth Rogoff, ""Global Imbalances and the Financial Crisis:  
Products of Common Causes,"" Harvard University, October 13, 2009. 
Cooper, Richard, ""Global Imbalances: Globalization, Demography, and Sustainability,"" 
Journal of Economic Perspectives, 2008, Issue 3, 93-112. 
Michael P. Dooley, David Folkerts-Landau, Peter Garber, ""The Revived Bretton Woods 
System: The Effects of Periphery Intervention and Reserve Management on Interest Rates 
& Exchange Rates in Center Countries,"" NBER Working Paper 10332, March 2004. 
Michael P. Dooley, David Folkerts-Landau, Peter Garber, ""An Essay on the Revived 
Bretton Woods System,"" NBER Working Paper 9971, September 2003. 
HOUSE OVERSIGHT 019404 
Prasad, Eswar and Raghu Rajan, ""A Pragmatic Approach to Capital Account  
Liberalization,"" working paper, Cornell University, 2008 
Goldstein, Morris, ""A (Lack of) Progress Report on China's Exchange Rate Policies,"" 
Working Paper 07-5, Peterson Institute, June 2007. 
Policy Brief 07-4: Global Imbalances: Time for Action, Peterson Institute for International 
Economics. 
Lardy, Nicholas R., China: Toward a Consumption-Driven Growth Path, Policy Brief 06-
6, Peterson Institute, October 2006. 
Goldstein, Morris, and Nicholas Lardy, Debating China's Exchange Rate Policy, 
Peterson Institute for International Economics, 2008 (This book has an excellent 
collection of topical articles) (Also available in hard copy at Harvard libraries.) 
Cline, William, and John Williamson, ""Equilibrium exchange rates,"" Voxeu, April 2009. 
http://www.voxeu.org/index.php?q=node/3666  
HOUSE OVERSIGHT 019405 
"
TEXT-001-HOUSE_OVERSIGHT_029255.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
Importance: 
jeffrey E. [jeevacation@gmail.com] 
4/28/2016 4:39:12 PM 
Alan M. Dershowitz 
Fwd: Reuters / lawsuit against Jeffrey Epstein 
katie johnson v trump complaint.pdf 
High 
----------Forwarded message 
From: Martin Weinberg 
Date: Thu, Apr 28, 2016 at 12:20 PM 
Subject: Fwd: Reuters / lawsuit against Jeffrey Epstein 
To: Jeff Epstein <jeevacation@gmail.com> 
• Roy Black_ 
Privileged - Redacted 
Begin forwarded message: 
From: <____________________________________ 
Date: April 28, 2016 at  12:14:37 PM EDT 
To:___________________ 
Subject: RE: Reuters / lawsuit against Jeffrey Epstein 
Sorry, the suit is attached to this email. 
From: Ingram, David (Reuters News) 
Sent: Thursday, April 28, 2016 12:14 PM 
To: 'Martin G. Weinberg' 
Subject: Reuters / lawsuit against Jeffrey Epstein 
; Jack Goldberger 
Hi Marty, 
The attached lawsuit was filed this week in federal court in California alleging that Jeffrey Epstein and another 
man, Donald Trump, raped her in 1994. We're planning to publish a story on the suit this afternoon, and we 
want to make sure it is fair. Is Mr. Epstein available to speak? Or do you want to offer a comment on this 
behalf? 
My number is 
Thank you in advance. 
David Ingram 
Correspondent 
Reuters News 
Thomson Reuters 
and I'm available any time. I also just tried your cell phone. 
HOUSE OVERSIGHT 029255 
Office: 
Mobile 
Reuters.com 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029256 
"
TEXT-001-HOUSE_OVERSIGHT_027278.txt,"Source Entry: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2018-06-16\Terje 
on 2018-06-09 at 17.38.08.ichat 
Service: iMessage 
Start Time: 06/09/18 02:38:08 PM (550273088) 
End Time: 06/16/18 06:50:37 AM (550849837) 
Last Message ID: 16385 
Chat Room: 
Participants: jee, Terje 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
Sender: 
Time: 06/09/18 02:38:08 PM (550273088) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: A3160962-2EF9-4F40-9F45-6ACCFAA93122 
Message: Tried 
Sender: e:jeeitunes@gmail.com 
Time: 06/10/18 04:03:50 AM (550321430) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: C3067957-B173-4BA8-8FFC-0E3FFEEA3BFO 
Message: Awake? 
Sender: e:jeeitunes@gmail.com 
Time: 06/10/18 05:47:29 AM (550327649) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 68B8EEF5-871D-49F7-8F48-E3B9BB045169 
Message: Kurtz important. As he will host trump and Putin 
Sender: e:jeeitunes@gmail.com 
Time: 06/10/18 08:44:07 AM (550338247) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 87612D27-F80A-43A1-AB40-90F24C2FB2OD 
Message: Tried 
HOUSE OVERSIGHT 027278 
Sender: 
Time: 06/10/18 12:13:35 PM (550350815) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 8816FDF0-0D71-4E3C-A57C-E97AFAF36744 
Message: Dear Sebastian, Steve Bannon, who behind the scenes still is one of the most 
insightful and influential players in Washington ( and very close to the President), 
would like to see you on various issues. He is now working very closely with Victor 
Orban and other of your colleagues in Europe. I am having dinner with him in Paris on 
22 June. He could come to Vienna any time between the 23 and 28 of that month. He is a 
very astute and extremely well informed analyst and player, though we have 
significantly different views on some issues ! I will strongly recommend that you see 
him, and am sure you will find it very useful. Warmest Terje 
Sender: e:jeeitunes@gmail.com 
Time: 06/10/18 12:18:52 PM (550351132) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: C6B1BC95-AD63-4D33-99AE-499D10B88814 
Message: You might add that if he is in Paris. He is welcome to join for dinner . Up to 
you. 
Sender: 
Time: 06/11/18 07:02:57 AM (550418577) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: F473C12D-D186-412D-8949-7335914D4CBD 
Message: Tried. 
Sender: e:jeeitunes@gmail.com 
Time: 06/11/18 12:18:56 PM (550437536) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 86F2043E-0018-47FB-932E-B81BAA57033C 
Message: ? 
Sender: 
Time: 06/12/18 02:08:24 PM (550530504) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
HOUSE OVERSIGHT 027279 
GUID: EF12A195-1F2B-412E-ABDD-9907CB73A930 
Message: Tried. 
Sender: 
Time: 06/12/18 03:02:10 PM (550533730) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 1B205FEB-F861-4104-A682-A0798E378C31 
Message: Tried. Call me! Unbelievable!!!! 
Sender: 
Time: 06/13/18 08:25:20 AM (550596320) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: COBDB2F7-3F48-4BF3-A222-41C30D2EF9F4 
Message: Pls call. Important! 
Sender: e:jeeitunes@gmail.com 
Time: 06/14/18 12:57:54 PM (550699074) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: 979A0524-FCAB-45FC-B2F1-7765ECD59786 
Message: Tried 
Sender: 
Time: 06/16/18 06:50:37 AM (550849837) 
Flags: 1060865 
Is Read: Yes 
Is Invitation: No 
GUID: 5901C6D0-8ED3-4327-B07C-AA9CDCDOD9DA 
Message: Arrived well in London. Feeling Good. Went with American Airlines. There was 
no first class! But Thx anyway for, as always a generous offer! Slept all the way! When 
are you arriving in Paris?0 
HOUSE OVERSIGHT 027280 
"
IMAGES-003-HOUSE_OVERSIGHT_016203.txt,"Flipboard 10 for Today [editorialstaff@flipboard.com]
7/13/2019 9:06:05 PM

jeevacation@gmail.com
11 questions for Mueller

Flipboard

The Seltzer Bubble

HOUSE_OVERSIGHT_016203
"
IMAGES-005-HOUSE_OVERSIGHT_019019.txt,"7/13/06 PALM BEACH POLICE ae Page: 66
9227255 Incident Report Program: CMS301L ~

. I located
and informed her that I was
investigating a case against Jeffrey Epstein and knew she had been at
the house. ae started to cry and advised she had put that part
of her life behind her. I explained that although she is seventeen
years old I needed to inform her parents that she would be
interviewed. She provided her home telephone number. I attempted
contact and left voice mail messages at the house to speak with her
parents.

Det. Caristo and I then located[L_ —S— J at her residence located
at in West Palm Beach. I attempted to interview her
about Jeffrey Epstein. She advised she is so in love with Jeff
Epstein and would do anything for him. She further explained that she
would not speak with us about him either negative or positive. She
asked us to leave her property. I informed her that although she did
not wish to speak with us, I had sufficient information at this point
in the investigation to know she was at Epstein's house and provided
girls to Epstein to work. I also explained that prior to our arrival
at her residence I had telephone contact with her father,

who was told she would be interviewed. is
currently seventeen years old and as a juvenile, parental notification
would be required. We then left the area and returned to the police
. Station.

While at the police station, I left another telephone message for
a fe: began an analysis of MN Cellular
telephone. The telephone number Po —*diS assigned to =i

QM and the financially responsible party 1s Jeffrey Epstein of 457
Madison Ave. in New York City, New York. The time frame which was
subpoenaed was September 2005, through October 2005. There were
eighty seven pages of calls made either to the cell phone or from the
cell phone. The local (561) numbers were analyzed. A spread sheet
was prepared and placed into the attachment file of who was called.

T located the

The unknown numbers were researched using FoneFinder.com and subpoenas
were requested to determine subscriber information. This was done to
identify additional victims or witnesses. The analysis revealed that
WE bed called the victim/witnesses frequently when Epstein was in
the Town of Palm Beach to ""work."" This confirms what the girls
interviewed had previously stated. [RRR would notify them when
Epstein was in town and their willingness to ""work."" The CD was placed
into evidence.

Investigation Continues.

KAEKKKEKAKREKEEKEKAEKKEKEKEKKEKEKER NARRATIVE HZ RREKRRKKEKE RARER AER KR REKKEREES

Reported By: RECAREY, JOSEPH 1/03/06
Entered By.: ALTOMARO, NICKIE A. 1/03/06

On December 29, 2005, I received a facsimile from National Compliance

HOUSE_OVERSIGHT_019019
"
IMAGES-002-HOUSE_OVERSIGHT_013054.txt,"138 7 A Formal Model of Intelligent Agents

7.3.3 Pragmatic General Intelligence

The above concept of biased universal intelligence is perfectly adequate for many purposes, but
it is also interesting to explicitly introduce the notion of a goal into the calculation. This allows
us to formally capture the notion presented in [Goe93a] of intelligence as “the ability to achieve
complex goals in complex environments.”

If the agent is acting in environment jz, and is provided with g, corresponding to g at the
start and the end of the time-interval T = {i € (s,...,¢)}, then the expected goal-achievement
of the agent, relative to g, during the interval is the expectation

t
ViiaT = OD T(Ig,s,i))
1=s
where the expectation is taken over all interaction sequences J, ., drawn according to pp. We
then propose

Definition 5 The pragmatic general intelligence of an agent 7, relative to the distribution
vy over environments and the distribution y over goals, is its expected performance with respect
to goals drawn from y in environments drawn from v, over the time-scales natural to the goals;
that is,

HEE GEG,T

(in those cases where this sum is convergent).

This definition formally captures the notion that “intelligence is achieving complex goals in
complex environments,” where “complexity” is gauged by the assumed measures v and 4.

If v is taken to be the universal distribution, and + is defined to weight goals according to
the universal distribution, then pragmatic general intelligence reduces to universal intelligence.

Furthermore, it is clear that a universal algorithmic agent like ATXT [Hut05] would also
have a high pragmatic general intelligence, under fairly broad conditions. As the interaction
history grows longer, the pragmatic general intelligence of AIXI would approach the theoretical
maximum; as AIXI would implicitly infer the relevant distributions via experience. However,
if significant reward discounting is involved, so that near-term rewards are weighted much
higher than long-term rewards, then AIXI might compare very unfavorably in pragmatic general
intelligence, to other agents designed with prior knowledge of v, y and 7 in mind.

The most interesting case to consider is where v and ¥ are taken to embody some particular
bias in a real-world space of environments and goals, and this bias is appropriately reflected
in the internal structure of an intelligent agent. Note that an agent needs not lack universal
intelligence in order to possess pragmatic general intelligence with respect to some non-universal
distribution over goals and environments. However, in general, given limited resources, there
may be a tradeoff between universal intelligence and pragmatic intelligence. Which leads to the
next point: how to encompass resource limitations into the definition.

One might argue that the definition of Pragmatic General Intelligence is already encompassed
by Legg and Hutter’s definition because one may bias the distribution of environments within
the latter by considering different Turing machines underlying the Kolmogorov complexity.
However this is not a general equivalence because the Solomonoff-Levin measure intrinsically

HOUSE_OVERSIGHT_013054
"
IMAGES-010-HOUSE_OVERSIGHT_028874.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_028874
"
IMAGES-004-HOUSE_OVERSIGHT_016763.txt,"ARE Fon 278 (March 2014)

Instructions for Part 2

Has ownership interest im:

Entity Name

TRUMP DEVELOPMENT SERVICES

LLC

275 TRUMP DRINKS ISRAEL LLC */3}

‘Owned by:

4 Ownership
4

98
276 TRUMP DRINKS ISRAEL MEMBER CORP “/3)

Owned by:

Has ownership interest in:

277 TRUMP EDUCATION ULC */3)

Owned by:

% Ownership
100

Entity Name
TRUMP DRINKS ISRAEL LLC

% Ownership
100

278 TRUMP EMPIRE STATE INC */3)

Owned by: % Ownership
106
279 TRUMP NATIONAL DORAL
Owned by: % Ownership
F
99
280 TRUMP ENDEAVOR 12 MANAGER CORP */1)
Owned by: 2% Ownership
100
Has ownership interest in + Entity Name
TRUMP NATIONAL DORAL
281 TRUMP EU MARKS LLC *(3)
Owned by: 2% Ownership
1
oo
282 TRUMP EU c ‘
‘Owned by: ‘4 Owners!
100
‘Has ownership Interest In; Entity Mame
TRUMP EU MARKS LLC
283 TRUMP FERRY POINT LLC
Assumed Names: D/B/A
Trump Golf Links Ferry Point
Trump Golf Links Ferry Point
Trump Golf Links
‘Owned by: % Ownership
i
E |

284 Ti IP ¥

‘Owned by:

Has ownership interest in:

MEMBER CORP *(1,

DIT Holdings Managing Member LLC

Ownership
1.00%

Name

TRUMP DRINKS ISRAEL MEMBER:
CORP

DIT Holdings LLC

Name
DIT Holdings Maraging Member LLC

Qwnershio
1.00%

Name
THE TRUMP ENTREPRENEUR
INITIATIVE LLC (NY DOMESTIC)

Name
BIT Holdings Managing Member LLC

Name
TRUMP ENDEAVOR 12 MANAGER

CORP
DIT HOLDINGS LLC

Name
QUT HOLDINGS MANAGING MEMBER
LLC

Ownership
1.00%

Name
TRUMP EU MARKS MEMBER CORP

DTTM OPERATIONS LLC

Name
DTTM Operations Managing
Member Corp

Ownership
1.00%

Jurisdiction

Delaware

New York

New York

Name

TRUMP FERRY POINT MEMBER CORP

DIT Holdings LLC

Name
The Donald J, Trump Revocable Trust

Ownership

Note: This is a public form, Do net include account numbers, street addresses, of family member names. See instructions for required information,

Title
Managing Member

Title
Managing Member

Title

Managing Member

‘Title
Managing Member

Title

Role
Managing Member

Member

Role
Sharoholder

Role
Shareholder

Role
Shareholder

ole
Managing Member

Member

Role
Shareholder

Role
Managing Member

Member

Role
Shareholder

Role
Managing Member

Member

Role
Shareholder

HOUSE_OVERSIGHT_016763
"
IMAGES-007-HOUSE_OVERSIGHT_023560.txt,"HOUSE_OVERSIGHT_023560
"
IMAGES-009-HOUSE_OVERSIGHT_026772.txt,"° You then made a comment about her eye makeup, getting very close to her face.

° You then lifted her by her arms, and pushed her onto the bed beneath you, forcibly kissing her and
trying to pull down the crotch of her tights.

° She struggled to push you off her.

° You said, “When | was in college | could never get a girl that looked like you.”

° When you pulled out a condom, she got out from under you. She said “I have to go,” and rushed out of
the room.

Incident 2:

° In an incident that occurred in fall of 2007 while you were a physics professor at Case Western Reserve

University, a student tried to talk to you about her plans after graduation. You mentioned to her how tough it
must be to have all the other physics majors asking her out on dates.

° In a second incident in December of 2007, while you were still at Case Western, the same student
visited your office to interview you for a student science journal. You closed the door behind her, and ignored
the questions she had prepared. Then you made a casual comment about taking her out for dinner.

° Later, in a regular column for the school paper, she described her experiences with you, without
mentioning you by name. “There was even one particular creep of a professor who once told me he thought
differently of me compared to other students and asked me to dinner: a situation so disturbing that it left me
upset for weeks afterward,” she wrote.

° She was then approached by a dean at the university, who suspected that she was referring to you,
based on a previously reported incident with another student. He encouraged her to make a complaint, and
she did.

° University investigators interviewed both you and the student.

° On September 4, 2008, Susan Nickel-Schindewolf, the university’s associate vice president for student
affairs, wrote to the student, telling her that the investigation was complete. She wrote that you had been told:
“This type of behavior could constitute sexual harassment in violation of the university’s sexual harassment
policy.”

° The letter also stated that you were prohibited from making contact with the student as long as she
remained at Case.

° The letter also stated that you are required to get approval from the dean or the chair of the physics
department before setting foot on the campus again.

° The letter also stated, “Dr. Krauss expressed regret about having a negative impact on you, and also
his willingness to use this complaint as an opportunity to reflect and improve on his future interactions with
students.”

° By then, you had already left Case, taking up your current position at Arizona State University the
month before.

° “The opportunities being offered at ASU are simply too great to turn down at this stage in my career,”
you told Case colleagues, in an email announcing your departure on April 16, 2008.

Incident 3:

° A former Case Western physics department administrator confirmed that she had reported a previous
incident involving a student who had confided in her about your inappropriate behavior towards her.

Incident 4:

° You met a student from another university, an atheist activist, in March 2008 at the American Atheists
Convention in Minneapolis. She wanted to expand the atheist group she ran at the midwestern university she
was attending, and hoped to convince you to come and speak. You initially seemed enthusiastic.

HOUSE_OVERSIGHT_026772
"
IMAGES-009-HOUSE_OVERSIGHT_027478.txt,"Message: Yes

Sender: iy

Time: 11/16/18 06:56:36 AM (564072996)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 75A8109B-5F6A-4538-A2A8-A3B8F9257B70

Message: I just reached out

Time: 11/16/18 06:56:57 AM (564073017)
Flags: 1126401
Is Read: Yes

Is Invitation: No

a

GUID: 7AE30852-5238-4A7B-AC2B-B2543722AERE4

Message: can u let our friend know in heading over tonight

Sender: e:jeeitunes@gmail.com

Time: 11/16/18 06:58:36 AM (564073116)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 8E12BC2B-8073-43F5-AD2A-9EOBBS6D8F9C

Message: do you mean your Paris lunch friend?

Sender: [I

Time: 11/16/18 06:58:48 AM (564073128)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 2FFF2D39-B9D9-4392-AB47-AF599176FFB5

Message: Yes

Sender: e:jeeitunes@gmail.com

Time: 11/16/18 06:58:55 AM (564073135)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 4BF23379-DD82-4930-B7D0-CA2ADBAC 66AB

Message: Done

HOUSE_OVERSIGHT_027478
"
IMAGES-008-HOUSE_OVERSIGHT_024538.txt,"Principals and their affiliates in connection with the Real Estate Transaction. The Junior Mezzanine debt
is subordinated to the new CMBS debt. Cash interest is payable on the Junior Mezzanine debt at a rate
of 15.13% and payable in kind at a rate of 1.50%. The Junior Mezzanine debt matures in May of 2016.
Interest paid in kind may not be paid in cash until the CMBS debt is paid in full. The Junior Mezzanine
debt is nonrecourse to KLC OpCo.

Prepayment of the Junior Mezzanine debt is prohibited through November 9, 2010, after which
prepayment is permitted in whole or in part, subject to a prepayment premium equal to 8.32% for
prepayments in the first year, 6.66% for prepayments made in the second year, 4.99% for prepayments
made in the third year, 3.33% for prepayments made in the fourth year and 1.66% for prepayments made
in the fifth year. After November 9, 2015, the CMBS debt may be prepaid in whole without premium or

penalty.

12.8. Terms of the Master Lease

As part of the Real Estate Transactions, in November 2005, KLC refinanced its indebtedness and divided
KUE into KLC OpCo and KLC PropCo, and KLC OpCo entered into a Master Lease with KLC PropCo for
713 centers. The term of the Master Lease is 15 years and annual rent under the Master Lease is $91
million per year, subject to increases every five years. The Master Lease is a triple net lease that requires
KLC OpCo to pay all operational expenses, taxes, utilities, insurance and maintenance costs with respect
to the leased centers, and the Master Lease may not be terminated by KLC OpCo. KLC OpCo is
required to make certain deposits or to provide letters of credit for taxes, insurance and maintenance of
the properties. KLC is also required to deposit rent payments into a segregated deposit account
controlled by the CMBS debt lenders. KLC OpCo has the right under certain circumstances to release
and substitute properties under the Master Lease. KLC OpCo has entered into separate, substantially
smaller leases of KLC PropCo’s remaining properties.

105

HOUSE_OVERSIGHT_024538
"
IMAGES-004-HOUSE_OVERSIGHT_016777.txt,"Reference #

OOGE Fenn 2782 (Murch 2008)

Instructions for Part 2

‘Owned by: Ownership
100
441 TRUMP TORONTO DEVELOPMENT, INC. *(4)
Owned by: #4 Ownership
100
442 TRUMP TORONTO HOTEL MANAGEMENT CORP
Owned by: #4 Ownership
100
443 TRUMP TORONTO MEMBER CORP */3)
Owned by: 36 Ownership
100
Has ownership interest In: Entity Name
TRUMP MARKS TORONTO LP

444 TRUMP TOWER COMMERCIAL LLC

Owned by: Ownership
L
EL
445 TRUMP TOWER MANAGING MEMBER INC,
Owned by: $6. Ownership
100
Has ownership interest in: Entity Name

TRUMP TOWER COMMERCIAL LLC

446 Trump Village Construction Corp. *(7)

Owned by: % Ownership
25
a
Has ownership interest in: Entity Name
Starrett City Associates, L.P.
Spring Creek Plaza LLC
447 TRUMP VINEYARD ESTATES LLC
Owned by: % Ownership
i
$3
Has ownership interest in: Entity Name
TRUMP VINEVARD ESTATES LOT 3
‘OWNER LLC
448 TRUMP VINEYARD ESTATES LOT 3 OWNER LLC
Owned by: 36 Ownership
100
449 TRUMP VINEYARD ESTATES MANAGER CORP */1)
Owned by: 3% Ownership
100
Has ownership interest in; Entity Mame

TRUMP VINEYARD ESTATES LLC

450 TRUMP VIRGINIA ACQUISITIONS LLC

Owned by: 4 Ownership
1
93
451 TRUMP VIRGINIA ACQUISITIONS MANAGER CORP *(1)
Owned by: #8 Ownership

Note: Thisis a public form. Do not include account numbers, street addresses, or family member names. See Instructions for required information.

Name
DIT Holdings LLC

Name
DJT Holdings Managing Member LLC

Name
DIT HOLDINGS MANAGING MEMBER
Lue

Name

DTTM Operations Managing

Member Corp

Ownership Tithe
1,007 Member

Name

TRUMP TOWER MANAGING
MEMBER INC,

The Trump-Equitable Fifth Avenue
Company

Name

The Donald J, Trump Revocable Trust

Ownership Title
1.00% Managing Member

Name
The Donald J. Trump Revocable Trust

Trump Family Members

Ownership Title
1.88% Partner
1.84% Marmber
Name

TRUMP VINEWARD ESTATES

MANAGER CORP

DJT HOLDINGS LLC

Ownership Title
1O0.00% Mamber
Name

TRUMP VINEWARD ESTATES LLC

Name
DIT Holdings Managing Member LLC

Ownership Tite
1.00% Managing Member

Name

TRUMP VIRGINIA ACQUISITIONS
MANAGER CORP

DIT Holdings LLC

Name

AST of 46

Role
Member

Role
Shareholder

Role
Shareholder

Role
Shareholder

Role
Managing Member

Member

Role
Shareholder

Role
Shareholder

Shareholder

Role
Managing Member

Member

Role
Member

Role
Shareholder

Role
Managing Member

Member

Role

HOUSE_OVERSIGHT_016777
"
TEXT-001-HOUSE_OVERSIGHT_024003.txt,"﻿NEW LEAF VENTURES III, L.P.
– $375 MILLION LIMITED PARTNER INTERESTS –
CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM
APRIL, 2014
Control No. 257
NEW LEAF VENTURES III, L.P.
– $375 MILLION LIMITED PARTNER INTERESTS –
CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM
APRIL, 2014
NEW LEAF VENTURE PARTNERS
Times Square Tower
7 Times Square, Suite 3502
New York, NY 10036
646.871-6400
1200 Park Place
Suite 300
San Mateo, CA 94403
650.234.2700
Statement of Conditions
THIS CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM (THIS “MEMORANDUM”) IS
BEING FURNISHED TO CERTAIN SOPHISTICATED INVESTORS ON A CONFIDENTIAL BASIS BY
OR ON BEHALF OF NEW LEAF VENTURES III, L.P., A DELAWARE LIMITED PARTNERSHIP (“NLV-
III” OR THE “FUND”), SO THAT EACH MAY CONSIDER AN INVESTMENT IN THE FUND.
IN MAKING AN INVESTMENT DECISION, INVESTORS MUST RELY ON THEIR OWN
EXAMINATION OF THE PERSON OR ENTITY CREATING THE SECURITIES AND THE TERMS OF
THE OFFERING, INCLUDING THE MERITS AND RISKS INVOLVED. THE LIMITED PARTNER
INTERESTS (THE “INTERESTS”) OFFERED HEREBY HAVE NOT BEEN APPROVED, DISAPPROVED,
ENDORSED OR RECOMMENDED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION (THE
“SEC”) OR BY THE SECURITIES REGULATORY AUTHORITY OF ANY U.S. STATE OR NON-U.S.
JURISDICTION, AND NEITHER THE SEC NOR ANY SUCH AUTHORITY HAS REVIEWED THIS
MEMORANDUM NOR PASSED UPON THE ACCURACY OR ADEQUACY OF THIS
MEMORANDUM, NOR IS IT INTENDED THAT THE SEC OR ANY SUCH AUTHORITY WILL DO SO.
NO INDEPENDENT PERSON HAS CONFIRMED THE ACCURACY OR TRUTHFULNESS OF THIS
DISCLOSURE OR WHETHER IT IS COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS
ILLEGAL.
THE INTERESTS HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), ANY U.S. STATE SECURITIES LAWS OR
THE LAWS OF ANY NON-U.S. JURISDICTION. IT IS ANTICIPATED THAT THE OFFERING AND
SALE OF THE INTERESTS IN THE U.S. WILL BE EXEMPT FROM REGISTRATION PURSUANT TO
SECTION 4(2) AND REGULATION D AND REGULATION S PROMULGATED UNDER THE
SECURITIES ACT AND OTHER EXEMPTIONS OF SIMILAR IMPORT UNDER THE LAWS OF THE
STATES AND OTHER JURISDICTIONS WHERE THE OFFERING WILL BE MADE. THE FUND WILL
NOT BE REGISTERED AS AN INVESTMENT COMPANY UNDER THE U.S. INVESTMENT COMPANY
ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY ACT”).
THE INTERESTS HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT AND MAY NOT BE
OFFERED OR SOLD IN THE U.S. OR TO U.S. PERSONS (AS DEFINED IN RULE 902(K) OF THE
SECURITIES ACT) UNLESS THE INTERESTS ARE REGISTERED UNDER THE SECURITIES ACT, OR
AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS
AVAILABLE. HEDGING TRANSACTIONS INVOLVING THE INTERESTS MAY NOT BE
CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.
THE FUND AND ITS GENERAL PARTNER ARE NEWLY FORMED ENTITIES. THERE IS NO PUBLIC
MARKET FOR THE INTERESTS, AND NO SUCH MARKET IS EXPECTED TO DEVELOP. EACH
PURCHASER WILL BE REQUIRED TO REPRESENT, AMONG OTHER THINGS, THAT IT IS AN
“ACCREDITED INVESTOR” WITHIN THE MEANING OF REGULATION D OF THE SECURITIES ACT
AND THAT IT IS ACQUIRING THE INTERESTS PURCHASED BY IT FOR INVESTMENT AND NOT
WITH A VIEW FOR RESALE OR DISTRIBUTION. THE INTERESTS ARE SUBJECT TO RESTRICTIONS
ON TRANSFERABILITY AND RESALE AND MAY NOT BE RESOLD OR TRANSFERRED EXCEPT AS
PERMITTED UNDER THE FUND’S AMENDED AND RESTATED LIMITED PARTNERSHIP
AGREEMENT (AS AMENDED FROM TIME TO TIME, THE “PARTNERSHIP AGREEMENT”) AND
UNLESS THE INTERESTS ARE REGISTERED UNDER THE SECURITIES ACT OR EXEMPTED FROM
SUCH REGISTRATION AND REGISTRATION UNDER ANY OTHER APPLICABLE SECURITIES LAW
REQUIREMENTS.
NO PERSON HAS BEEN AUTHORIZED TO MAKE ANY REPRESENTATIONS OR GIVE ANY
INFORMATION WITH RESPECT TO THE INTERESTS EXCEPT THE INFORMATION CONTAINED IN
THIS MEMORANDUM, AND ANY REPRESENTATION OR INFORMATION NOT CONTAINED
HEREIN MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE FUND, ITS
GENERAL PARTNER, OR ANY OF THEIR RESPECTIVE PARTNERS, EMPLOYEES, OFFICERS,
i
CONTROL NUMBER 257 - CONFIDENTIAL
DIRECTORS OR AFFILIATES. THE DISTRIBUTION OF THIS MEMORANDUM AND THE OFFER
AND SALE OF THE INTERESTS IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. FOR
INFORMATION REQUIRED BY THE SECURITIES LAWS OF CERTAIN U.S. STATES AND CERTAIN
JURISDICTIONS OUTSIDE OF THE U.S., PLEASE SEE THE OFFERING NOTICES BEGINNING IN
SECTION XIV. THIS MEMORANDUM DOES NOT CONSTITUTE AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY THE INTERESTS IN ANY JURISDICTION TO ANY PERSON
TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION IN SUCH JURISDICTION.
THIS MEMORANDUM IS NOT, AND UNDER NO CIRCUMSTANCES IS IT TO BE CONSTRUED AS, A
PROSPECTUS OR ADVERTISEMENT, AND THE OFFERING CONTEMPLATED IN THIS
MEMORANDUM IS NOT, AND UNDER NO CIRCUMSTANCES IS IT TO BE CONSTRUED AS, A
PUBLIC OFFERING OF THE INTERESTS.
THIS MEMORANDUM IS FOR THE CONFIDENTIAL USE OF ONLY THOSE PERSONS TO WHOM IT
IS TRANSMITTED IN CONNECTION WITH THIS OFFERING. EACH RECIPIENT ACKNOWLEDGES
AND AGREES THAT THE CONTENTS OF THIS MEMORANDUM AND RELATED
DOCUMENTATION CONSTITUTE PROPRIETARY AND CONFIDENTIAL INFORMATION, THAT
NEW LEAF VENTURE PARTNERS, L.L.C. (“NEW LEAF” OR THE “MANAGEMENT COMPANY”)
AND THE FUND DERIVE INDEPENDENT ECONOMIC VALUE FROM THEIR CONTENTS NOT
BEING GENERALLY KNOWN, AND THAT THE MANAGEMENT COMPANY TAKES REASONABLE
EFFORTS TO MAINTAIN THEIR SECRECY. IN ADDITION, EACH PERSON WHO RECEIVES THIS
MEMORANDUM AGREES THAT ITS CONTENTS ARE A TRADE SECRET, THE DISCLOSURE OF
WHICH IS LIKELY TO CAUSE SUBSTANTIAL AND IRREPARABLE COMPETITIVE HARM TO THE
MANAGEMENT COMPANY AND THE FUND. BY ACCEPTANCE HEREOF, EACH RECIPIENT
AGREES NOT TO TRANSMIT, REPRODUCE OR MAKE AVAILABLE TO ANYONE, IN WHOLE OR IN
PART, THIS MEMORANDUM, ANY SUPPLEMENT HERETO OR ANY INFORMATION CONTAINED
HEREIN OR THEREIN WITHOUT THE PRIOR WRITTEN CONSENT OF NEW LEAF VENTURE
ASSOCIATES III, L.P. (THE “GENERAL PARTNER”), OR TO USE IT FOR ANY PURPOSE OTHER
THAN EVALUATING A POSSIBLE INVESTMENT IN THE FUND. EACH PERSON WHO HAS
RECEIVED A COPY OF THIS MEMORANDUM (WHETHER OR NOT SUCH PERSON PURCHASES
ANY INTERESTS) IS DEEMED TO HAVE AGREED (I) TO RETURN THIS MEMORANDUM AND ANY
SUPPLEMENT HERETO TO THE MANAGEMENT COMPANY UPON REQUEST IF SUCH PERSON
HAS NOT PURCHASED AN INTEREST, (II) NOT TO DISCLOSE ANY INFORMATION CONTAINED
IN THIS MEMORANDUM OR ANY SUPPLEMENT HERETO EXCEPT TO THE EXTENT THAT SUCH
INFORMATION WAS (A) PREVIOUSLY KNOWN BY SUCH PERSON THROUGH A SOURCE (OTHER
THAN THE FUND, ITS PARTNERS OR ANY AFFILIATES OR AGENTS THERETO) NOT BOUND BY
ANY OBLIGATION TO KEEP CONFIDENTIAL SUCH INFORMATION, (B) IN THE PUBLIC DOMAIN
THROUGH NO FAULT OF SUCH PERSON OR (C) LATER LAWFULLY OBTAINED BY SUCH
PERSON FROM SOURCES (OTHER THAN THE FUND, ITS PARTNERS OR ANY AFFILIATES OR
AGENTS THERETO) NOT BOUND BY ANY OBLIGATION TO KEEP SUCH INFORMATION
CONFIDENTIAL AND (III) TO BE RESPONSIBLE FOR ANY DISCLOSURE OF THIS MEMORANDUM,
ANY SUPPLEMENT HERETO, OR THE INFORMATION CONTAINED HEREIN OR THEREIN, BY
SUCH PERSON OR ANY OF ITS EMPLOYEES, AGENTS OR REPRESENTATIVES.
PROSPECTIVE INVESTORS ARE URGED TO REQUEST ANY ADDITIONAL INFORMATION THEY
MAY CONSIDER NECESSARY OR DESIRABLE IN MAKING AN INFORMED INVESTMENT
DECISION. EACH PROSPECTIVE PURCHASER IS INVITED, PRIOR TO THE CONSUMMATION OF
A SALE OF ANY INTERESTS TO SUCH PURCHASER, TO ASK QUESTIONS OF AND RECEIVE
ANSWERS FROM THE MANAGEMENT COMPANY CONCERNING THE FUND AND THIS
OFFERING AND TO OBTAIN ANY ADDITIONAL INFORMATION TO THE EXTENT THE
MANAGEMENT COMPANY POSSESSES THE SAME OR CAN ACQUIRE IT WITHOUT
UNREASONABLE EFFORT OR EXPENSE, IN ORDER TO VERIFY THE ACCURACY OF THE
INFORMATION CONTAINED IN THIS MEMORANDUM OR OTHERWISE.
ii
CONTROL NUMBER 257 - CONFIDENTIAL
PROSPECTIVE INVESTORS ARE CAUTIONED NOT TO RELY ON THE PRIOR RETURNS SET FORTH
HEREIN IN MAKING A DECISION WHETHER OR NOT TO PURCHASE THE INTERESTS OFFERED
HEREBY. AN INVESTMENT IN THE FUND DOES NOT REPRESENT AN INTEREST IN ANY
INDICATED INVESTMENT OR ANY INVESTMENT PORTFOLIO OF ANY RELATED OR OTHER
INVESTMENT FUND, INCLUDING ANY INVESTMENT FUND MANAGED BY THE MANAGEMENT
COMPANY OR ITS AFFILIATES. WHILE THIS MEMORANDUM INCLUDES REFERENCES TO A
NUMBER OF RELATED AND AFFILIATED ENTITIES, INCLUDING CERTAIN AFFILIATED
INVESTMENT POOLS AND VEHICLES, AN INVESTMENT IN THE FUND AS CONTEMPLATED
HEREIN IS SEPARATE AND DISCRETE FROM ALL SUCH OTHER AFFILIATED INVESTMENT
VEHICLES. FURTHER, ALTHOUGH THE PERFORMANCE OF SUCH OTHER AFFILIATED
INVESTMENT VEHICLES MAY BE RELEVANT TO A GENERAL UNDERSTANDING OF THE
GENERAL INVESTMENT EXPERIENCE AND PHILOSOPHY OF THE MANAGEMENT COMPANY
AND ITS AFFILIATES, SUCH PERFORMANCE IS NOT AN INDICATOR OF THE RESULTS TO BE
ACHIEVED BY THE FUND.
THE RETURN INFORMATION CONTAINED HEREIN HAS NOT BEEN AUDITED OR VERIFIED BY
ANY INDEPENDENT PARTY AND SHOULD NOT BE CONSIDERED REPRESENTATIVE OF THE
RETURNS THAT MAY BE RECEIVED BY AN INVESTOR IN THE FUND. CERTAIN FACTORS EXIST
THAT MAY AFFECT COMPARABILITY INCLUDING, AMONG OTHERS, THE DEDUCTION OF FEES
AND EXPENSES AND THE PAYMENT OF CARRIED INTEREST (WHICH MAY BE DIFFERENT FOR
THE FUND) AS WELL AS OTHER FACTORS AS NOTED WITH SUCH INFORMATION. FURTHER,
CERTAIN INFORMATION RESPECTING UNREALIZED RETURNS IS BASED ON PUBLIC MARKET
VALUATIONS THAT, AMONG OTHER THINGS, HAVE BECOME INCREASINGLY VOLATILE AND
AS A RESULT MAY NOT BE INDICATIVE OF THE CURRENT VALUE OR THE ACTUAL VALUE TO
BE REALIZED FROM ANY PARTICULAR PORTFOLIO INVESTMENT.
PROSPECTIVE INVESTORS SHOULD NOT CONSTRUE THE CONTENTS OF THE MEMORANDUM
AS LEGAL, TAX, REGULATORY, FINANCIAL, ACCOUNTING OR OTHER ADVICE. EACH
PROSPECTIVE INVESTOR SHOULD MAKE ITS OWN INVESTIGATION AND CONSULT ITS OWN
ADVISORS AS TO THE LEGAL, TAX, REGULATORY, FINANCIAL, ACCOUNTING AND RELATED
MATTERS CONCERNING THE FUND, THE OFFERING AND AN INVESTMENT IN THE INTERESTS.
THIS INVESTMENT INVOLVES A HIGH DEGREE OF RISK AND IS SUITABLE ONLY FOR
INVESTORS WHO ARE SOPHISTICATED WITH FINANCIAL MATTERS AND FAMILIAR WITH THE
RISKS ASSOCIATED WITH INVESTMENTS SIMILAR TO THE ONES DESCRIBED HEREIN. NONE OF
THE FUND, THE GENERAL PARTNER, THE MANAGEMENT COMPANY OR ANY OF THEIR
AFFILIATES IS MAKING ANY REPRESENTATION OR WARRANTY TO AN INVESTOR REGARDING
THE LEGALITY OF AN INVESTMENT IN THE FUND BY SUCH INVESTOR OR ABOUT THE
INCOME AND OTHER TAX CONSEQUENCES TO IT OF SUCH AN INVESTMENT.
UNLESS OTHERWISE INDICATED, ALL INFORMATION CONTAINED HEREIN RESPECTING
RATES OF RETURN OR OTHER PERFORMANCE DATA, WHETHER REALIZED OR UNREALIZED,
IS QUALIFIED BY THE RELEVANT APPENDICES, FOOTNOTES, AND ENDNOTES HEREIN AND IS
ON A GROSS RETURN BASIS BEFORE GIVING EFFECT TO MANAGEMENT FEES, CARRIED
INTEREST, OTHER EXPENSES AND TAXES, WHICH, IF GIVEN EFFECT TO, WOULD REDUCE SUCH
RETURNS AND, IN THE AGGREGATE, ARE EXPECTED TO BE SUBSTANTIAL. WHERE NET
RETURNS ARE PROVIDED, SUCH RETURNS GIVE EFFECT TO MANAGEMENT FEES, CARRIED
INTEREST AND OTHER EXPENSES. FURTHER, INFORMATION RESPECTING INVESTMENT
PERFORMANCE IS BASED ON CERTAIN INVESTMENT POSITIONS SELECTED AS
REPRESENTATIVE AND ANALOGOUS TO THE TARGETED INVESTMENT CATEGORIES FOR THE
FUND. SUCH INVESTMENT PERFORMANCE INFORMATION IS NOT REPRESENTATIVE OF
INVESTMENT PERFORMANCE BY NEW LEAF AND ITS AFFILIATED INVESTMENT MANAGERS IN
OTHER INVESTMENT ACTIVITIES, WHICH HAVE NOT BEEN INCLUDED HEREIN.
iii
CONTROL NUMBER 257 - CONFIDENTIAL
INVESTORS SHOULD CAREFULLY REVIEW THE INFORMATION CONTAINED IN THIS
MEMORANDUM IN SECTION IX, “CERTAIN INVESTMENT CONSIDERATIONS,” AND SECTION X,
“CERTAIN TAX AND ERISA CONSIDERATIONS.” INVESTMENT IN THE INTERESTS IS SUITABLE
ONLY FOR SOPHISTICATED INVESTORS AND REQUIRES THE FINANCIAL ABILITY AND
WILLINGNESS TO ACCEPT THE RISKS AND LACK OF LIQUIDITY INHERENT IN AN INVESTMENT
IN THE INTERESTS. IN PARTICULAR, ONE OR MORE SUBSIDIARIES OF THE FUND OR OTHER
ENTITIES IN WHICH THE FUND INVESTS DIRECTLY OR INDIRECTLY MAY QUALIFY AS
“PASSIVE FOREIGN INVESTMENT COMPANIES” OR “CONTROLLED FOREIGN CORPORATIONS”
FOR U.S. FEDERAL INCOME TAX PURPOSES, WHICH COULD RESULT IN ADVERSE TAX
CONSEQUENCES TO INVESTORS THAT ARE U.S. PERSONS.
THIS MEMORANDUM CONTAINS A SUMMARY OF THE PARTNERSHIP AGREEMENT AND
CERTAIN OTHER DOCUMENTS REFERRED TO HEREIN. HOWEVER, THE SUMMARIES IN THIS
MEMORANDUM DO NOT PURPORT TO BE COMPLETE AND ARE SUBJECT TO AND QUALIFIED
IN THEIR ENTIRETY BY REFERENCE TO THE ACTUAL TEXT OF THE RELEVANT DOCUMENT,
COPIES OF WHICH WILL BE PROVIDED TO EACH PROSPECTIVE INVESTOR UPON REQUEST.
EACH PROSPECTIVE INVESTOR SHOULD REVIEW THE PARTNERSHIP AGREEMENT, THE
SUBSCRIPTION AGREEMENT AND SUCH OTHER DOCUMENTS FOR COMPLETE INFORMATION
CONCERNING THE RIGHTS, PRIVILEGES AND OBLIGATIONS OF INVESTORS IN THE FUND. IN
THE EVENT THAT THE DESCRIPTIONS OR TERMS OF THE MEMORANDUM ARE INCONSISTENT
WITH OR CONTRARY TO THE DESCRIPTIONS OR TERMS OF THE PARTNERSHIP AGREEMENT,
THE SUBSCRIPTION AGREEMENT OR OTHER DOCUMENTS, THE PARTNERSHIP AGREEMENT,
THE SUBSCRIPTION AGREEMENT OR SUCH OTHER DOCUMENTS SHALL CONTROL. THE
GENERAL PARTNER AND ITS AFFILIATES RESERVE THE RIGHT TO MODIFY THE TERMS OF THE
OFFERING AND THE INTERESTS DESCRIBED IN THIS MEMORANDUM, AND THE INTERESTS
ARE OFFERED SUBJECT TO THE GENERAL PARTNER’S ABILITY TO REJECT ANY COMMITMENT
IN WHOLE OR IN PART.
CERTAIN INFORMATION IN THIS MEMORANDUM HAS BEEN OBTAINED FROM SOURCES
BELIEVED TO BE RELIABLE ALTHOUGH NONE OF THE FUND, GENERAL PARTNER, THE
MANAGEMENT COMPANY OR THEIR RESPECTIVE AFFILIATES GUARANTEE ITS ACCURACY,
COMPLETENESS OR FAIRNESS. OPINIONS AND ESTIMATES MAY BE CHANGED WITHOUT
NOTICE.
THE FUND IS OFFERING INTERESTS TO U.S. PERSONS THAT ARE “QUALIFIED PURCHASERS” AS
DEFINED IN THE INVESTMENT COMPANY ACT AND “ACCREDITED INVESTORS” AS DEFINED
IN THE SECURITIES ACT.
AN INVESTMENT IN THE FUND MAY BE SUBJECT TO INCREASING REGULATIONS AND
GOVERNMENTAL OVERSIGHT, INCLUDING, FOR EXAMPLE, THE BANK SECRECY ACT AND THE
USA PATRIOT ACT OF 2001, INCLUDING THEIR RESPECTIVE IMPLEMENTING REGULATIONS
WHICH, AMONG OTHER THINGS, CONSTITUTE THE ANTI-MONEY LAUNDERING
REGULATIONS. THERE CAN BE NO ASSURANCE THAT SUCH RULES WILL NOT REQUIRE
VARIOUS INVESTOR DISCLOSURES TO, AMONG OTHERS, DOMESTIC AND FOREIGN
GOVERNMENT AUTHORITIES.
YOUR INVESTMENT WILL BE DENOMINATED IN UNITED STATES DOLLARS ($) AND,
THEREFORE, WILL BE SUBJECT TO ANY FLUCTUATION IN THE RATE OF EXCHANGE BETWEEN
U.S. DOLLARS ($) AND THE CURRENCY OF YOUR OWN JURISDICTION. SUCH FLUCTUATIONS
MAY HAVE AN ADVERSE EFFECT ON THE VALUE, PRICE OR INCOME OF YOUR INVESTMENT.
ALL SECURITIES INVESTMENTS RISK THE LOSS OF CAPITAL. NO GUARANTEE OR
REPRESENTATION IS MADE THAT THE FUND WILL ACHIEVE ITS INVESTMENT OBJECTIVE. AN
INVESTMENT IN THE FUND IS SPECULATIVE AND INVOLVES CERTAIN CONSIDERATIONS AND
iv
CONTROL NUMBER 257 - CONFIDENTIAL
CERTAIN INVESTMENT CONSIDERATIONS. PAST PERFORMANCE IS NOT INDICATIVE OF
FUTURE RESULTS.
THE FUND INTENDS TO CONDUCT ITS INVESTMENT ACTIVITIES THROUGH A NUMBER OF
SUBSIDIARIES AND AFFILIATES THAT MAY BE ESTABLISHED FROM TIME TO TIME IN ONE OR
MORE JURISDICTIONS, EACH OF WHICH MAY HAVE VARYING TAX EFFECTS ON THE FUND
AND PARTNERS. AS SUCH THERE CAN BE NO ASSURANCE AS TO THE CONSEQUENCES OF
SUCH ACTIVITIES. INVESTORS SHOULD CONSULT THEIR OWN TAX ADVISORS AS TO THE RISK
OF AN INVESTMENT IN THE FUND. SEE ALSO SECTION X, “CERTAIN TAX AND ERISA
CONSIDERATIONS.”
PROSPECTIVE INVESTORS SHOULD REVIEW THE OFFERING NOTICES BEGINNING IN SECTION
XIV FOR INFORMATION RELATING TO THE OFFERING AND SALES OF THE INTERESTS TO
INVESTORS IN VARIOUS STATES OF THE U.S. AS WELL AS CERTAIN NON-U.S. JURISDICTIONS.
IN ACCORDANCE WITH U.S. TREASURY REGULATIONS GOVERNING PRACTICE BEFORE THE
INTERNAL REVENUE SERVICE (CIRCULAR 230), THE FUND HEREBY INFORMS THE INVESTORS
THAT (A) THE INFORMATION BELOW (OR OTHERWISE CONTAINED IN THIS DOCUMENT) IS
NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY THE INVESTORS FOR
THE PURPOSE OF AVOIDING PENALTIES THAT THE U.S. INTERNAL REVENUE SERVICE MAY
ATTEMPT TO IMPOSE ON AN INVESTOR, (B) THE INFORMATION WAS WRITTEN TO SUPPORT
THE PROMOTION OR MARKETING OF THE TRANSACTION OR MATTERS ADDRESSED BY THE
WRITTEN INFORMATION AND (C) INVESTORS SHOULD SEEK TAX ADVICE BASED ON THEIR
PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.
Forward-Looking Statements
CERTAIN INFORMATION CONTAINED IN THIS MEMORANDUM CONSTITUTES “FORWARD-
LOOKING STATEMENTS,” WHICH CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING
TERMINOLOGY SUCH AS “MAY,” “WILL,” “SHOULD,” “EXPECT,” “ANTICIPATE,” “PROJECT,”
“ESTIMATE,” “INTEND,” “CONTINUE,” OR “BELIEVE,” OR THE NEGATIVES THEREOF OR OTHER
VARIATIONS THEREON OR COMPARABLE TERMINOLOGY. DUE TO VARIOUS RISKS AND
UNCERTAINTIES, INCLUDING, WITHOUT LIMITATION, THOSE SET FORTH IN SECTION IX
“CERTAIN INVESTMENT CONSIDERATIONS”, ACTUAL EVENTS OR RESULTS OR THE ACTUAL
PERFORMANCE OF THE FUND MAY DIFFER MATERIALLY FROM THOSE REFLECTED OR
CONTEMPLATED IN SUCH FORWARD-LOOKING STATEMENTS. WHILE ASSUMPTIONS
UNDERLYING VARIOUS STATEMENTS AS TO FUTURE PERFORMANCE ARE BELIEVED TO BE
REASONABLE IN NATURE, EXISTING AND PROSPECTIVE INVESTORS SHOULD MAKE THEIR
OWN ASSESSMENTS AS TO SUCH ASSUMPTIONS AND THE ASSOCIATED RISKS, INCLUDING
THE LIKELIHOOD OF THE FUND ACHIEVING CORRESPONDING RESULTS, ALL OF WHICH ARE
SUBJECT TO RISKS AND UNCERTAINTIES MANY OF WHICH ARE BEYOND THE CONTROL OF
THE FUND (SEE SECTION IX “CERTAIN INVESTMENT CONSIDERATIONS”). AS SUCH, NO
ASSURANCE IS GIVEN AS TO THE REALIZATION OF ANY SUCH FUTURE PERFORMANCE. NO
REPRESENTATION OR WARRANTY IS MADE AS TO FUTURE PERFORMANCE OR SUCH
FORWARD-LOOKING STATEMENTS. UNLESS OTHERWISE INDICATED, INFORMATION
CONTAINED HEREIN IS AS OF MARCH 31, 2014. THE DELIVERY OF THIS MEMORANDUM DOES
NOT IMPLY THAT ANY OTHER INFORMATION CONTAINED HEREIN IS CORRECT AS OF ANY
TIME SUBSEQUENT TO MARCH 31, 2014.
None of New Leaf Ventures I, L.P., New Leaf Ventures II, L.P., NLV-III, the Management Company or any of their
affiliates have any affiliation with Credit Suisse nor any its affiliates (collectively, “Credit Suisse”). Credit Suisse
has not compiled, reviewed or participated in the preparation of any of the performance or other information
contained in this Memorandum and assumes no responsibility therefor. Consequently, in no respects should
Credit Suisse be considered to have approved or disapproved of any of the information set forth in this
Memorandum. “Sprout”, “Sprout Group” and the symbols associated therewith are registered trademarks of Credit
v
CONTROL NUMBER 257 - CONFIDENTIAL
Suisse. These trademarks remain the exclusive property of Credit Suisse. The Interests being offered by NLV-III are
not sponsored, endorsed, promoted, offered or sold by Credit Suisse, and Credit Suisse makes no representation
regarding the advisability of investing in NLV-III.
vi
CONTROL NUMBER 257 - CONFIDENTIAL
TABLE OF CONTENTS
I. Executive Summary ......................................................................................................................... 1
II. The Team ....................................................................................................................................... 11
III. Summary of Historical Investment Performance ................................................................. 18
IV. Opportunity In The Healthcare Sector ................................................................................... 24
V. New Leaf Venture Partners Investment Strategy .................................................................. 31
VI. Deal Sourcing & Investment Process ..................................................................................... 43
VII. Ongoing Relationship With Sprout Funds .......................................................................... 45
VIII. Summary of Partnership Terms ........................................................................................... 46
IX. Certain Investment Considerations ........................................................................................ 58
X. Certain Tax and ERISA Considerations ................................................................................... 73
XI. Certain Legal & Regulatory Considerations .......................................................................... 85
XII. Additional Information ............................................................................................................ 88
XIII. Appendices ............................................................................................................................... 89
XIV. Certain Offering Notices ...................................................................................................... 100
vii
CONTROL NUMBER 257 - CONFIDENTIAL
I. EXECUTIVE SUMMARY
FUND OVERVIEW
New Leaf Ventures III, L.P. (“NLV-III” or the “Fund”) is being formed by New Leaf Venture
Partners, L.L.C. (“New Leaf” or the “Management Company”), an established and proven
leader in health care technology investing. NLV-III will be the seventh private equity fund
focused on venture and growth stage investments in healthcare and life sciences companies
raised by the partners of New Leaf. NLV-III is the successor fund to New Leaf Ventures I, L.P.
(“NLV-I”) and New Leaf Ventures II, L.P. (“NLV-II”), which raised capital commitments of
$310 million and $450 million respectively. The New Leaf funds follow four Sprout Capital
funds that included over $1.0 billion of investments in healthcare technology companies. 1 In
total, the New Leaf team has invested over $1.6 billion and have generated one of the industry’s
leading track records by consistently outperforming their peers in the healthcare venture capital
market (based on Cambridge Associates benchmarks 2 ) and exceeding relevant public market
indices by substantial margins. 3,4
The Fund will seek to invest in a diversified portfolio composed of an estimated 24 to 28
healthcare technology companies, most of which will be U.S. based and at the product
development or commercialization phase. Fund investments will typically take the form of
venture capital or growth capital transactions in private companies, or as structured
transactions in small capitalization public companies. The Fund will establish meaningful
ownership positions and in most cases will actively manage the investments with
representation on the boards of directors. The Fund will seek to generate returns that
significantly outperform relevant public market equity indices by creating a portfolio that
optimally balances the risks, timelines, and capital intensity associated with developing and
commercializing innovative healthcare technologies with the financial market realities that are
the backdrop for a venture capital fund focused on this sector.
The Fund is targeting aggregate capital commitments from limited partners of
$375 million.
THE NEW LEAF TEAM
New Leaf is one of the most respected, successful, and established brands in healthcare
technology investing, a reputation built over the last 18 years by a highly experienced and
stable team of partners. NLV-III will be managed by this team of 6 senior partners, 5 of whom
have worked together continuously for a decade or more. These partners bring a strong
combination of significant and relevant industry operating experience and successful venture
capital investment experience to NLV-III.
The Managing Directors of NLV-III are Philippe Chambon MD PhD, Jeani Delagardelle, Ron
Hunt, Vijay Lathi, and Liam Ratcliffe MD PhD. Philippe, Jeani, Ron, and Vijay have worked
together for 15 years over six prior funds at New Leaf and the Sprout Group. Liam joined the
1 Sprout Group is a venture capital affiliate of Credit Suisse
2 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices” including endnote C
in Appendix 4 regarding information provided by Cambridge Associates.
3 S&P500, S&P Healthcare, NASDAQ Composite, and Russell 3000. See endnote F in Appendix 4.
4 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices; Appendix 3”
(regarding the PME+ methodology) including endnotes B, D, E and F in Appendix 4.
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CONTROL NUMBER 257 - CONFIDENTIAL
New Leaf team five years ago and has made significant contributions to the NLV-II portfolio.
Jim Niedel MD PhD has worked with the team continuously for over twelve years and will
continue to be a senior member of the NLV investment team for NLV-III, but will change his
status to Venture Partner with the closing of NLV-III. In this role, Jim will work full-time with
NLV during the NLV-III investment period in building and managing the NLV-III portfolio,
and he will continue with full oversight and portfolio management responsibilities for NLV-I
and NLV-II. With 80+ years of venture investing experience and decades of operating
experience in the industries in which they invest, this 6 member senior team (the “Fund
Managers”) brings highly relevant and complementary experience to bear on this Fund. This
team of partners is further strengthened by a group of additional investment professionals who
add highly relevant scientific and life sciences investment experience and have made significant
contributions to the NLV-II portfolio.
The New Leaf team is distinctive in that its members have played a leadership role in the
healthcare venture capital industry over the last two decades. During this time, the Fund
Managers have demonstrated the ability to source high quality investments at all stages,
including start-ups, follow-on private investments, company restructurings, and structured
public investments. The Fund Managers source deals through a range of activities that rely on
their deep relationships in academia, industry, and the investment community (private and
public), resulting in differentiated and, in many cases, proprietary deal flow. Once initial
investments are made, the Fund Managers are focused on building value in technology based
healthcare companies by creating strong management teams and then collaborating with them
to develop, manage, and execute capital efficient business plans. Through these efforts, the
Fund Managers have earned a reputation as value-added investors and have created some of
the best performing portfolios of healthcare technology investments in the industry.
LONG TERM TRACK RECORD
Over an 18 year period and across the portfolios of 6 distinct venture funds focused on
healthcare technology investments, the Fund Managers have delivered net performance that
has consistently outperformed venture industry benchmarks and relevant public equity market
indices 5,6 . The Fund Managers’ track record is notable for the following reasons:
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Performance has been consistently top-quartile since the mid-1990s:
NLV-I, NLV-II and the healthcare technology portfolios in the Sprout Capital funds
have invested over $1.6 billion in healthcare technology companies since 1995. Over
nearly two decades, returns have consistently exceeded Cambridge Associates’ top-
5 Except as otherwise expressly noted, all performance information contained herein, including rates of return, is as of March 31,
2014 and is unaudited. The performance information is based on the cumulative invested capital, cumulative cash dividends and
realized and unrealized sales proceeds in portfolio companies. Where designated as “gross”, the performance information is
presented on a gross basis with regard to expenses and does not reflect deductions for any management fees, the general partner’s
carried interest or other expenses. Where designated as “net”, the performance information is presented on a net basis after giving
effect to management fees, the general partner’s carried interest and other expenses. Please refer to Section III: “Summary of
Historical Investment Performance” and Section XIII: “Appendices” and the endnotes in Appendix 4 for a more detailed description
of the performance of the NLV-I, NLV-II and the Sprout Funds. An investment in the Fund does not represent an interest in any
indicated investment or any investment portfolio of any related or other investment fund, including any investment or fund
managed by the Fund Managers. Disclosure of past performance herein is for informational purposes only and is not indicative of
future results.
6 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices; Appendix 3”
including endnote C (regarding information provided by Cambridge Associates).
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CONTROL NUMBER 257 - CONFIDENTIAL
quartile benchmarks for U.S. venture capital healthcare and/or U.S. total venture
capital. 7
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Exceeded relevant public equity indices by substantial margins on all realized funds:
Members of the New Leaf team invested $1.02 billion in the portfolios of healthcare
technology investments in four Sprout Capital funds (Sprout Capital IX, L.P., Sprout
Capital VIII, L.P., Sprout Capital VII, L.P. and Sprout Growth II, L.P.), and these are now
fully realized (or near fully realized in the case of Sprout Capital IX, L.P.). The net
annual IRR’s on the healthcare technology portfolios in these funds outperformed the
S&P 500 (568 – 2,258 bps), S&P Healthcare (302 – 2,064 bps), NASDAQ Composite (451 –
2,125 bps), and the Russell 3000 (502 – 2,215 bps) using the Public Market Equivalent
Plus (PME+) methodology 8 . Although PME+ methodology is most informative when
used to analyze funds whose returns are mature, the PME+ methodology shows that
NLV-I is outperforming these same indices, and shows encouraging results for NLV-II
despite its relative immaturity.
It is this consistently high level of return over an 18 year period, spanning several challenging
investment cycles, that creates a truly unique track record within the venture capital sector.
The chart below illustrates details of the gross and net performance by fund.
Chart 1: Returns by Fund
As of March 31, 2014
($ in millions)
Fund:
Fund Size:
Growth II
HCT
*
$15M Fund
Sprout VII
HCT
*
$95M Fund
Sprout VIII
HCT
*
$147M Fund
Sprout IX
HCT
*
$690M Fund
NLV-I
$310M Fund
NLV-II
$450M Fund
Paid-In Capital $15M $95M $147M $690M $303M $407M
Vintage Year: (1993 - 2007) (1995 - 2011) (1998 - 2012) (2000) (2005) (2008)
First Investment 1995 1995 1998 2000 2005 2008
Gross Fund Returns
N
Total Multiple
N
Realized Multiple
4.4x
4.4x
2.6x
2.6x
1.7x
1.7x
2.0x
2.2x
2.1x
1.7x
1.8x
2.0x
D
Total IRR
D
Realized IRR
44%
44%
19%
19%
10%
10%
15%
17%
19%
23%
30%
33%
Net Fund Returns
N
Net Total Multiple
D
Net Total IRR
*
3.69x
*
28.9%
*
2.17x
*
12.0%
*
1.49x
*
6.0%
*
1.66x
*
9.3%
1.75x
12.0%
1.45x
16.7%
Net Distributed / Paid-In Multiple
F
*
3.69x
*
2.17x
*
1.49x 1.55x * 0.51x 0.50x
Net Distributed $s to LPs $56.3 $207.0 $218.7 $1,071.5 $154.7 $204.2
Interim Fund Liquidity Metrics
G
(Distributed + Public) / Paid-In Multiple -- -- -- 1.62x 0.74x 1.18x
H
(Distributed + Liquid Public) / Paid-In Multiple -- -- -- 1.58x 0.57x 0.75x
IRR Outperformance Versus Public Indices
**
PME+ (Basis Points over S&P 500 Healthcare Sector) +2,064 bps +302 bps +441 bps +776 bps +201 bps -187 bps
**
PME+ (Basis Points over S&P 500) +2,258 bps +568 bps +587 bps +638 bps +496 bps +275 bps
PME+ (Basis Points over Russell 3000)
**
+2,215 bps +554 bps +502 bps +565 bps +446 bps +218 bps
PME+ (Basis Points over Nasdaq Composite)
**
+2,125 bps +554 bps +725 bps +451 bps +181 bps -21 bps
NLV and Sprout fund data as of March 31, 2014. Sprout fund statistics computed based on healthcare portfolio within Sprout.
* See Appendix 2 and endnotes A and E in Appendix 4. Based on synthetic funds with assumptions around recycling and fee structure.
** Based on Public Market Equivalent (PME+) methodology. See Appendix 3 and endnotes A, B, E and G in Appendix 4.
Please Section XIII: “Appendices” for definitions of terms and/or methodology.
7 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices” and endnotes B
(regarding public indices) and C (regarding information provided by Cambridge Associates) in Appendix 4.
8 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices”, Appendix 3
(regarding the PME+ methodology) and to endnotes B, D, E and F in Appendix 4.
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CONTROL NUMBER 257 - CONFIDENTIAL
For a full overview of investment performance, please refer to Section III: Summary of
Historical Investment Performance.
OPPORTUNITY IN THE HEALTHCARE SECTOR
The Fund Managers believe a number of macro market factors have aligned to create attractive
and lasting conditions for NLV-III’s targeted investment strategy in healthcare technology.
These macro market factors include the following:
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Strong and Sustained Growth in Global Healthcare Markets: Healthcare is one of the
strongest and most dynamic markets within the global economy, with powerful
demographic forces expected to drive growth at rates that will outpace GDP in major
economies for at least the next decade. 9 This steady and sustained market growth
creates a positive macro environment for investment in the sector.
Significant Opportunity Created By Healthcare Reform & Restructuring: Through at
least the next decade, the healthcare industry will be going through a period of
significant restructuring as government, private insurance companies, and employers
implement broad reform initiatives that seek to slow the growth of healthcare spending
and limit the threat this burden creates to their long term fiscal viability. In the U.S., the
federal government laid the foundation for these changes with two key pieces of
legislation: the Patient Protection and Affordable Care Act (“ACA”) and the Health
Information Technology for Economic and Clinical Health Act (“HITECH Act”), which are
designed to reduce costs, improve quality, and significantly expand the percentage of
the population with access to healthcare services. Importantly, a component of the
legislation sets aside funding in the form of direct incentives to healthcare providers to
be used to purchase technologies needed to meet the legislation’s requirements. As part
of healthcare reform, government and private payers will need to migrate their
traditional fee-for-service reimbursement models towards more value-centered
approaches that reward outcomes, efficiency, and reduction in waste. Payers are
approaching this goal by slashing costs in areas where viable lower cost solutions are
available, while at the same time investing much more in the adoption of innovative
new products and solutions which can improve outcomes and deliver quantifiable
value, even when considering their additional costs and premium pricing. During this
period of substantial change in the healthcare system, the Fund Managers expect to see
an unusually large number of opportunities to fund companies developing innovative
and impactful new therapeutic products as well as tools and applications that enable the
implementation and realization of healthcare reform’s goals and objectives.
Rapid Acceleration in Innovation: The Fund Managers believe an unprecedented
period of medical innovation is emerging as decades of research into molecular
mechanisms of disease is being translated into a steady stream of safer and more
effective medicines and the biomarkers to guide their use. Importantly, these products
are providing enormous improvements in both life expectancy and quality of life for
patients with many serious, life-threatening diseases. Although they will come with
premium pricing, these products can decrease the overall costs to the healthcare system
by reducing reliance on equally costly, but less effective and more toxic treatments, by
9 CMS, OECD, Eurostat
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reducing clinic visits and hospital admissions and by controlling or curing disease so
that the patient can return to a fully productive life. At the same time as this revolution
in the biological sciences is unfolding, exponential increases in the ability to manage,
process, and store information at low cost are coming out of the information technology
(IT) industry. This rapid technological progress in IT is allowing the creation of entirely
new systems and applications that will fundamentally improve how healthcare systems
monitor and manage patients across the full range of care settings. The Fund Managers
believe the massive expansion and integration of capabilities occurring in biology and
information technology is enabling a period of innovation in healthcare that sets a
uniquely positive environment for the investment of NLV-III.
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More Favorable Regulatory Environment For New Drug Approvals: Increasing
numbers of FDA drug approvals and recently passed U.S. regulatory legislation are
reflective of a more favorable regulatory environment. The number of new drug
approvals by FDA in both 2012 (39 NDAs) and 2013 (27 NDAs) trended meaningfully
higher compared to the previous 6 years and versus historic averages 10 . In addition, the
Food and Drug Administration Safety and Innovation Act (FDASIA) was signed into law on
July 9, 2012, providing for additional tools to enable the FDA to promote innovation by
streamlining parts of the approval process and improving communication and
administrative processes between the agency and pharmaceutical and biotech
companies. Chief among these new tools is the “Breakthrough Therapy” designation.
This new designation helps the FDA assist drug developers to expedite the development
and review of new drugs with preliminary clinical evidence that indicates the drug may
offer a substantial improvement over available therapies for patients with serious or lifethreatening
diseases. Overall, these initiatives and others, both in the U.S. and abroad
(e.g., E.U. and Japan), have made the regulatory environment more favorable for
investors in the biopharmaceutical sector, and have reduced some of the uncertainty and
risk in a critical aspect of drug development.
Capital Markets And Industry Dynamics Are Favorable For New Investments & Exits:
Since the most recent peak in fundraising in 2008, it has been estimated that the life
sciences venture capital fundraising has contracted by 68%, from $7.8 billion in 2008 to
$2.5 billion in 2012 11 . The Fund Managers believe that there has been a corresponding
decline in the number of active venture capital firms investing into life sciences
companies (especially earlier stage), resulting in fewer investors competing for new
deals. At the same time, large and mid-sized biopharmaceutical companies have
become increasingly dependent on development stage companies as the source of
innovation and new products to supplement R&D pipelines and stimulate future
growth. Most of these big companies are committing a large and growing portion of
their R&D budgets to external facing search and evaluation efforts that have the goal of
obtaining assets through high value mergers, acquisitions, and partnerships, which
disproportionally benefit smaller, venture-backed, development stage companies. In
the years ahead, we believe that this trend is likely to continue, and possibly accelerate,
driven by expected patent expirations on commercial products and continued low
productivity of pharma R&D. The Fund Managers believe these dynamics offer venture
10 Food and Drug Administration. Center For Drug Evaluation and Research
11 Dow Jones; Fenwick & West Analysis in 2012 Trends in Terms of Life Science Venture Financings
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and growth stage investors attractive conditions for both new investments and exits
from existing investments for the foreseeable future.
The Fund Managers view this alignment of critical market factors as unprecedented. Each of
these factors individually has a direct impact on the level of risk and the potential for returns in
the healthcare technology sector. However, the positive trends in all of them occurring at the
same time should create a uniquely positive environment to execute NLV-III’s targeted strategy
within the sector.
INVESTMENT STRATEGY
New Leaf’s investment strategy is differentiated in the venture capital industry in terms of its
sector focus, specific approaches within each sector, and the depth of experience and long-term
track record that supports each element of the strategy. The Fund’s primary focus will be on
investments in the Biopharmaceutical and Information Convergence sectors, with a secondary
focus on Medical Devices and Biological Research Tools & Infrastructure. Investments will
be predominantly in the U.S., but could include a small number of investments in other parts of
the world (e.g., Western Europe or Canada). The focus within each sector will be the following:
Biopharmaceuticals: As in NLV-I and NLV-II, biopharmaceutical investments will be the core
focus for NLV-III and will comprise approximately 50% - 60% of the Fund. The Fund will
typically invest in development stage and commercial stage private companies and in publicly
traded small capitalization companies where the investments will be made mostly through
structured transactions. The portfolio will emphasize companies developing targeted
therapeutics that address molecular mechanisms of disease, where validated biomarkers can be
utilized to positively bias probabilities of success and reduce time and cost of development
compared to historical averages. These companies exemplify some of the key characteristics the
Fund Managers seek across the portfolio - namely large, unmet medical needs, strong science,
well differentiated technologies and high quality pre-clinical and clinical development
programs led by experienced management teams.
The Fund Managers believe that NLV-III will have the opportunity to invest in compelling
biopharmaceutical opportunities and that these will have attractive risk-return profiles for a
number of reasons, including the following:
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For the past decade, biopharmaceutical companies have been shifting their research and
development focus towards products that target mechanisms of disease at the molecular
level. Clinical programs for these types of products are typically smaller, more capital
efficient and have higher probabilities of success. These improvements are achievable
because precise biomarker testing enables a focus on only those patients where the
specific molecular mechanism is known to play an important role in the disease process.
By including only these patients in the clinical programs for these targeted products, the
probability of detecting critical efficacy signals is significantly increased, even with
relatively small numbers of patients;
Targeted development programs are benefiting from an improving regulatory
environment, as the FDA is demonstrating clear interest in working constructively with
companies to bring these types of high-impact therapeutics to market more quickly and
efficiently. This spirit of cooperation was covered thoughtfully in a recent New England
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Journal of Medicine editorial (November 2013), where Janet Woodcock, MD, the FDA’s
Director of the Center for Drug Evaluation and Research and other senior FDA staff
members as co-authors, discussed the FDA’s new breakthrough therapy designation
that can be granted to expedite the review and approval of new therapies to treat people
with serious or life threatening illnesses where inadequate treatment options exist. They
state that “The genesis of the new designation can be traced to several emerging trends
in drug discovery and development. Most notable is the rise of molecularly targeted
therapies, often paired with companion diagnostics”. The editorial goes on to say that
“Once a drug is designated as a breakthrough therapy, the FDA commits to working
particularly closely with the drug sponsor to devise the most efficient pathway for
generating additional evidence needed about safety and efficacy”. The breakthrough
therapy designation was created under FDASIA in 2012, and since that time 26
breakthrough therapy designations have been granted on 80 requests; 12
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The pharmaceutical industry’s commercial model is also improving with the shift in
focus to targeted therapeutics, as these therapies can: (a) provide significant
improvements in efficacy and safety over current standards of care; (b) offer important
clinical benefits in terms of increased life expectancy and improved quality of life; (c)
positively impact high morbidity diseases, many of which have primarily expensive, but
inadequate treatments available (e.g., cancer and autoimmune diseases); and (d)
generate compelling economic benefits to payers, even when they carry premium
pricing;
Finally, large and mid-sized biopharmaceutical companies have recognized the
inefficiency of their internal R&D efforts and have deemphasized many of their own
expensive, high risk, “blockbuster” programs. Increasingly, these companies are
“externalizing” a large portion of their R&D activity by acquiring, licensing, or
partnering with smaller biotech companies that are focused on developing the novel
targeted therapeutics mentioned above.
The Fund Managers believe the net result for investors is an improving risk-return equation for
biopharmaceutical investments, which should translate into higher returns in the sector.
Information Convergence: Information convergence investments will be the second core focus
for NLV-III, expected to comprise up to 25% of the Fund. Building on the leadership
established during the NLV-II investment period along with significant experience from past
Sprout funds, the Fund Managers will invest NLV-III in companies seeking to improve
efficiency and reduce overall costs to the healthcare system through the generation, analysis,
and application of information from research to diagnosis and delivery of care. Investments in
this sector will be at the commercial stage at the time of initial investment, or will be expected to
reach the commercial stage during the projected timeline of the investment.
Central to this opportunity is the acute structural deficit in the U.S., with healthcare liabilities
the single largest contributor and the healthcare reform initiatives that were designed in part to
address these critical fiscal issues. Broad scale deployment of new information technology will
12 New England Journal of Medicine, November 14, 2013: Expediting Drug Development – The FDA’s New “Breakthrough
Therapy” Designation
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CONTROL NUMBER 257 - CONFIDENTIAL
play a critical role in enabling the necessary structural changes to the healthcare system. The
HITECH Act created a $25.9 billion 13 Federal Government funded catalyst for the adoption of
information technology in healthcare in the U.S., and this is stimulating significant investment
in upgrading the information infrastructure at the provider level. This industry-wide
technology upgrade moves the vast majority of providers onto electronic systems, which offers
immediate efficiencies to their businesses and lays the foundation for the adoption of new
targeted information based applications in the future. These investments and legislative actions
by the U.S. government, and the subsequent response by insurers, providers and patients, are
driving a dramatic increase in spending on healthcare information technology (HIT), benefitting
the companies providing technology solutions that reduce cost and waste, drive efficiency, and
improve the quality of patient care.
The opportunity in information convergence also benefits significantly from the technologies
and infrastructure that have been developed and implemented outside of healthcare, such as
cloud computing, wireless communications, web-delivered software-as-a-service, and sensor
technology. Small companies drawing heavily off these existing technologies are able to
optimize their product through rapid iterations driven by user feedback, thereby reducing risk
and capital requirements, and leading to more predictable timelines, similar to what has been
seen in the broader information technology arena. The Fund Managers believe that smaller,
focused companies will play a key role in developing and deploying information based
products that address discrete problems within the U.S. healthcare market, and that a large
number of these will be compelling investment opportunities for NLV-III.
Medical Devices: Given the Fund Managers’ view that the operating and exit environment for
companies in this sector will be more challenging due to increased regulatory and
reimbursement uncertainty, NLV-III will have somewhat less exposure to this sector than
previous funds. The Fund will focus on investments in companies that are developing
innovative and differentiated medical devices, targeting large market opportunities that offer
the potential to meaningfully reduce overall patient treatment costs in high morbidity disease
settings through substantial efficacy and safety benefits versus existing standards of care.
Importantly, the focus will be on opportunities that have established regulatory approval
pathways and clear regulatory precedents, or are already at the commercial stage at the time of
initial investment. The objective will be to identify investment opportunities with later stage
risk profiles that can be expected to thrive in the current environment. Although the number of
deals in this sector is likely to be somewhat lower than in previous funds, with the later stage
focus, it is likely that the size of investments in this sector will be larger.
Biological Research Tools & Infrastructure: The rapid growth of this sector is being fuelled by
many of the same biomedical advances that are impacting health care more broadly, such as
personalized medicine and DNA sequencing. Smaller companies have always been a prolific
source of innovative new research tools, leading to high M&A interest among the large
commercial players in this sector. Moreover, because new reagents and research tools are not
subject to the risks of clinical trials, regulatory approvals or payer reimbursement it is possible
to build high-gross margins businesses that reach break-even on manageable timelines and
budgets. The Fund will approach this sector opportunistically and will seek to invest in a small
13 U.S. Department of Health and Human Services. Actuarial estimate as of January 2012.
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number of commercial stage companies with novel and clearly differentiated products targeting
defined and established high growth market segments.
DEAL FLOW AND INVESTMENT PROCESS
The Fund Managers have a proactive approach to deal sourcing, which targets both private and
public opportunities. The established and proven sourcing activities rely on diverse networks
of deal sources that have been built and cultivated over two decades and focus on identifying
compelling healthcare technology investment opportunities, at attractive time points for
investment. These efforts balance the inherent attractiveness of an innovative technology with
the selection of the appropriate investment stage, offering an optimal risk-adjusted return
potential and multiple paths to realization and liquidity.
The Fund Managers have refined and successfully executed this investment process over many
years, and it is an integral part of the firm’s culture. New Leaf’s investment philosophy and
process emphasize a team approach to maximizing investment returns, focusing the most
appropriate resources within the firm to deal sourcing, rigorous investment analysis, deep
involvement with portfolio companies and active management of financings and exits.
DISTINCTIVE FEATURES OF NEW LEAF
Over the last two decades, New Leaf has established itself as one of the premier brands in
healthcare technology investing as a result of a powerful combination of:
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one of the most established and stable teams in the venture capital industry with deep
and complementary operating and investing experience;
a long term track record across portfolios of healthcare technology investments in six
distinct venture funds and over $1.6 billion in total invested capital that has
demonstrated consistent outperformance versus venture industry peers and relevant
public market indices (S&P 500, S&P Healthcare, NASDAQ Composite, and Russell
3000) 14 ;
an evolving investment strategy, focused on a diversified portfolio of investments across
sectors, stages (start-ups to growth equity), and therapeutic areas that has proven to
generate returns through both up and down phases of macro investment cycles;
a hands-on approach to working with management teams as board members to
optimize corporate strategy, develop and refine clinical, regulatory, and operating plans,
recruit world-class talent, and drive business development activities that lead to valuemaximizing
follow-on financings, partnerships, and M&A transactions; and
a reputation for intellectual rigor, hard work, value added contributions, and
constructive collaboration that makes New Leaf a sought after lead investor by
outstanding entrepreneurs and a preferred co-investor amongst a broad range of top
quality investors.
14 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices” including endnotes
B, C, F and G in Appendix 4.
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NLV-III Investment Opportunity
The objective of NLV-III is to invest in a portfolio of healthcare technology companies that offer
attractive risk-adjusted returns. The companies that comprise the portfolio will be selected and
managed by a team of highly experienced senior partners who have developed and proven
their investment process over many years and multiple funds. The investment strategy for
NLV-III is similar to the strategies pursued in prior funds, in that it will have a core focus on
biopharmaceutical investments with a balance of investments across other healthcare
technology sectors. Given the strength and stability of the team, the consistency and the depth
of the track record, and the positive market forces and investment conditions that are expected
to be in place during the life of the Fund, the Fund Managers believe NLV-III offers investors an
opportunity for attractive returns.
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II. THE TEAM
NLV-III will be managed by the New Leaf team, which currently manages NLV-I, NLV-II, and
provides sub-advisory services managing the remaining healthcare technology investments in
the Sprout Funds. The team of six senior partners, five of whom have worked together
continuously for over a decade, stands out in the industry for its depth of accomplishments,
track record of consistent investment success, and its organizational stability. Each of the senior
partners has a strong combination of significant and relevant industry operating experience and
venture capital investment experience from one or more of the Fund’s targeted sectors. The
New Leaf team is further strengthened by a group of experienced investment professionals who
add highly relevant scientific backgrounds and investment experience.
The following timeline shows the history and progression of the New Leaf team:
History and Progression of New Leaf Team
SENIOR TEAM
Philippe Chambon, MD, Ph.D., (55), Managing Director, helped found New Leaf in 2005.
Philippe joined Sprout in 1995 and since that time has been an active investor in all three sectors
of interest for NLV-III. His investments have spanned all stages including six start ups and
several later stage growth equity investments and one buy-out. Philippe is currently focused on
New Leaf’s Information Convergence sector and late stage biopharmaceutical investments.
Philippe is currently on the boards of directors of Treato, Truveris, Karos Pharmaceuticals,
Principia BioPharma and VaxInnate. He was previously on the boards of NxStage Medical
(NASDAQ: NXTM), Auxilium (NASDAQ: AUXL), ePocrates (NASDAQ: EPOC, acquired by
athenahealth), Nuvelo (NASDAQ: NUVO), Sapient Health Network (acquired by WebMD),
Spotfire (acquired by Tibco Software), and Combichem (acquired by DuPont). He also led our
investment in, and was a board observer at, Audax Health (acquired by UnitedHealth/Optum).
Immediately prior to joining Sprout, Philippe was a Manager in the healthcare practice of the
Boston Consulting Group. In that capacity, he managed strategy and business re-engineering
assignments with clients in the pharmaceutical, biotech and insurance industry. Previously,
Philippe was an executive with Sandoz Pharmaceutical for seven years, where he built and led
an organization responsible for late stage clinical project management, portfolio management,
and pre-marketing and pharmacoeconomics activities. He conducted graduate research in
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CONTROL NUMBER 257 - CONFIDENTIAL
molecular immunology at The Pasteur Institute and earned an M.D. and Ph.D. from the
University of Paris, and an M.B.A. from Columbia University.
Jeani Delagardelle, (57), Managing Director, helped found New Leaf in 2005. She joined Sprout
in 2000. At New Leaf, Jeani leads the Medical Device investment effort. Jeani is currently on the
boards of directors of Access Closure, Altura, Cardiokinetix, Direct Flow Medical, Intrinsic
Therapeutics, ReShape Medical, and Spiracur. She was previously on the boards of directors of
Interlace (NLV-I company acquired by Hologic), Epicor (acquired by St. Jude), Visiogen
(acquired by Abbott), PercuSurge (acquired by Medtronic), and NxStage Medical (NASDAQ:
NXTM). Prior to joining the healthcare investment team at Sprout, Jeani was a General Partner
at Weiss, Peck & Greer Venture Partners (“WPGVP”) where she focused on healthcare
investments. Before joining the venture industry, Jeani spent 16 years in senior marketing and
general management positions in both the medical device and pharmaceutical industries. She
was Vice President of Global Marketing for Target Therapeutics, held several senior
management positions within the Medi-tech division of Boston Scientific, and served as the
Director of Business operations for Roche Pharmaceuticals. Jeani earned an A.B. in Clinical
Psychology from Occidental College and an M.B.A. from the University of California at Irvine.
Ron Hunt, (49), Managing Director, joined Sprout in 1998 and helped found New Leaf in 2005.
He has played significant role in the firm’s investment activities in later stage
biopharmaceuticals and has also contributed to the activities in each of the other sectors. Ron is
currently on the boards of Durata Therapeutics (NASDAQ: DRTX), IlluminOss Medical,
Relypsa (NASDAQ: RLYP), and SpineWave. Ron was previously on the boards of Cerexa
(NLV-I company acquired by Forest Laboratories), Stromedix, Inc. (NLV-I company acquired
by Biogen Idec), Aspreva Pharmaceuticals (NASDAQ: ASPV, acquired by Galenica, Inc.), Phase
Forward (NASDAQ: PFWD, acquired by Oracle), and Pathology Partners (acquired by Caris
Group). Before joining Sprout, he spent a combined 12 years in the pharmaceutical industry in
operating roles and as a management consultant with The Healthcare Group (a division of the
Interpublic Group of Companies) and Coopers & Lybrand Consulting. He gained eight years of
operating experience in various commercial roles working for SmithKline Beecham and Johnson
& Johnson. Ron earned a B.S. from Cornell University and an M.B.A. from The Wharton School
of the University of Pennsylvania.
Vijay Lathi, (41), Managing Director, helped found New Leaf in 2005 and joined Sprout in 1998.
Vijay’s activities are focused primarily on information convergence, although historically he has
been involved in investments across all sectors. He is currently on the boards of directors of
AwarePoint, Oxford Immunotech (NASDAQ: OXFP), iRhythm Technologies, Kit Check,
TigerText and XDx, while maintaining board observer status with Labcyte. Vijay was
previously on the boards of Advanced Cell Diagnostics, Ilypsa (acquired by Amgen) and
Relypsa (NASDAQ: RLYP). Prior to joining Sprout, Vijay spent one year as an analyst in the
healthcare venture capital group at Robertson Stephens where he reviewed investments
spanning medical devices, therapeutics and healthcare information technology. Prior to
Robertson Stephens, Vijay spent approximately one and a half years as an analyst at
Cornerstone Research, a business consulting firm focused on financial and econometric
analysis. He earned an M.S. in Chemical Engineering from Stanford University and a B.S. in
Chemical Engineering from MIT, with a focus on applications of engineering to the life sciences.
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James Niedel, MD, Ph.D., (70), Venture Partner, joined Sprout in May 2002 and helped found
New Leaf in 2005. Jim will change his status to Venture Partner in NLV-III with the closing of
the new fund. In this role, Jim will work full-time as a senior member of the NLV investment
team working on new investments, and he will continue with full oversight and portfolio
management responsibilities for NLV-I and NLV-II. Jim is currently on the boards of directors
of Chimerix (NASDAQ: CMRX, former Chairman) and Tioga. He was previously on the boards
of Intarcia Therapuetics (now currently a Board observer), Sirna Therapeutics (NASDAQ:
RNAI, acquired by Merck in 2006 for $1.1 billion), where he served as Chairman; Oriel
Therapeutics (acquired by Novartis in 2010), where he served as Executive Chairman, and Pearl
Therapeutics (acquired by AstraZeneca in 2012). Prior to joining Sprout, Jim was Chief Science
and Technology Officer for GlaxoSmithKline (“GSK”). From 1995 to 2001, he led Global
Research and Development, Information Technology and Product Strategy and was a member
of the board of directors of Glaxo Wellcome plc. From 1988 to 1995 Jim was Vice President,
Research and Senior Vice-President R & D for the U.S. subsidiary of Glaxo. During his nearly
13 years with the Company, he oversaw the discovery, development and/or registration of over
20 products marketed by GSK, including those for: HIV, hepatitis B, asthma/COPD, migraine,
BPH, irritable bowel syndrome, smoking cessation, depression, chemotherapy-induced nausea
and vomiting, breast cancer, herpes and malaria. Prior to GSK, Jim was Professor of Medicine,
Chief of the Division of Clinical Pharmacology and Principal Investigator on studies of
mechanisms of cancer and inflammation at Duke Medical School, where he had completed an
Internal Medicine residency and a Hematology-Medical Oncology fellowship. Jim received his
M.D. and Ph.D. (Biochemistry) degrees from the University of Miami, was selected a Searle
Scholar and is a Fellow of the Royal College of Physicians (London).
Liam Ratcliffe, MD, Ph.D., (50), Managing Director, joined New Leaf in September 2008 and
concentrates on biopharmaceutical investing. He is currently on the boards of directors of
Array BioPharma (NASDAQ: ARRY), Neuronetics, Karus Therapeutics, Afferent, Calchan and
Convergence, the latter three investments resulting from spin-outs from Roche (Afferent) and
GSK (Calchan & Convergence), respectively. Prior to joining New Leaf, Liam previously served
as Senior Vice President and Development Head for Pfizer Neuroscience, as well as Worldwide
Head of Clinical Research and Development. Additional positions during his 12 years at Pfizer
included Vice President of Exploratory Development for the Mid West region, and Head of
Experimental Medicine at Pfizer’s Sandwich, UK Laboratories. As Head of Neurosciences, Liam
was responsible for the development of several successful late-stage projects and marketed
products, including Lyrica, Chantix and Geodon. In previous roles, he gained extensive
experience in early drug development and translational research across multiple therapeutic
areas, including inflammation, pain, cardiovascular disease, infectious diseases and genitorurinary
medicine. Liam began his career in the pharmaceutical industry in a medical marketing
role at Roche in South Africa. He received his M.D. degree and Ph.D. degree in immunology
from the University of Cape Town and his M.B.A. degree from the University of Michigan.
Liam completed his internal medicine training and fellowship in Immunology at Groote Schuur
Hospital and associated teaching hospitals in Cape Town, South Africa.
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OTHER INVESTMENT PROFESSIONALS
Kathy LaPorte, (52), Venture Partner, is an angel investor in the Digital Health space focusing
on evaluating and mentoring start-ups developing digital technology solutions for healthcare
consumers, providers, payers and the pharmaceutical/medical device industries. Kathy is
affiliated with Health Tech Capital and is a Venture Partner with New Leaf, collaborating on
sourcing of opportunities with an emphasis on the Information Convergence sector. Kathy was
one of the founders of New Leaf upon its spin out from the Sprout Group in 2005. Kathy joined
the Sprout Group in 1993 and became a General Partner in 1994. Between 1987 and 1993, she
was a Principal at Asset Management Company, a venture capital firm focused on early stage
investments. Kathy received an M.B.A. from Stanford University Graduate School of Business
(Arjay Miller Scholar), and a B.S., summa cum laude, Phi Beta Kappa from Yale University.
Mark Charest, Ph.D., (36), Portfolio Manager, joined New Leaf in 2012. Previously, Mark was
an Associate and Kauffman Fellow at Panorama Capital (2010-2012) focused on life sciences
investments. Mark previously worked as a Consultant at ZS Associates (2009) and as an
Associate at Great Point Partners (2007-2009), a healthcare-focused public and private equity
investment firm. Prior to that, Mark held an operating role as a Medicinal Chemistry Lab
Manager at Novartis Institutes for BioMedical Research (2004-2007). Mark received his Ph.D. in
Chemistry and Chemical Biology from Harvard University as a National Science Foundation
Graduate Research Fellow.
Mike Dybbs, Ph.D., (39), Principal, joined New Leaf in 2009 and was promoted to Principal in
2012. Mike is currently on the boards of directors of Advanced Cellular Diagnostics and
Versartis. Prior to joining New Leaf, Mike was a Principal at the Boston Consulting Group
(BCG) where he was a core member of their Health Care practice. Mike graduated magna cum
laude from Harvard University with an AB in biochemical sciences and received his Ph.D. in
molecular biology and genetics from UC Berkeley, where he was awarded a Howard Hughes
Medical Institute fellowship. His research had been published in peer-reviewed journals,
including Neuron, Science and Nature.
Eric Kim, (28), Associate, joined New Leaf in December 2013. From 2011 through 2013, Eric was
a Private Equity Associate at Francisco Partners, where he focused on diligence and company
oversight efforts on the firm’s healthcare information technology portfolio. Prior to joining
Francisco Partners, Eric worked for three years at McKinsey & Company as a Senior Business
Analyst in their Corporate Finance Practice. Eric received his dual B.A. in Mathematical
Methods in the Social Sciences and Economics from Northwestern University.
Isaac Manke, Ph.D., (37), Portfolio Manager, joined New Leaf in 2009 as an Associate and was
promoted to Public Investment Director in 2012. Prior to joining New Leaf, Isaac was an
Associate in the Global Biotechnology Equity Research group at Sanford C. Bernstein.
Previously, Isaac worked as an Associate in the Biotechnology Equity Research group at
Deutsche Bank and was a Senior Analyst at Health Advances, a biopharmaceutical and medical
device strategy consulting firm. Isaac received a B.A. in Biology and a B.A. in Chemistry at
Minnesota State University (Moorhead), and a Ph.D. in Biophysical Chemistry and Molecular
Structure at the Massachusetts Institute of Technology (MIT). Isaac’s discoveries led to several
publications in top journals, including Science and Cell, and were selected by Science as one of
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CONTROL NUMBER 257 - CONFIDENTIAL
the “2003: Signaling Breakthroughs of the Year”. These discoveries also resulted in four issued
patents.
FINANCE AND OPERATIONS
Craig L. Slutzkin, (39), is Chief Financial Officer and manages the back office, compliance and
administrative functions for New Leaf. Craig joined Sprout as Vice President and the head of
its back office operations in August 2002 and transitioned to New Leaf at the time of the spinout.
Prior to joining Sprout, he spent over seven years in the audit and assurance practices of
Arthur Andersen and Ernst & Young in New York, attaining the position of Senior
Manager. While at Andersen and Ernst & Young, clientele included various multi-strategy
private equity and venture capital fund firms as well as top tier investment banks. Craig
received his M.B.A. in finance from Columbia Business School and received a B.A. in
Accounting and Information Systems from Queens College. He is a certified public accountant
and a member of the American Institute of Certified Public Accountants.
INDUSTRY ADVISORS
The Fund Managers work closely with industry professionals who are experts in New Leaf’s
fields of interest and are willing to work closely with the Fund Managers on an as needed basis
to provide their perspectives on topics and issues that are relevant to due diligence on new
investments, on-going issues that arise in the management of existing portfolio companies, and
longer term fund strategy. New Leaf’s advisors are all prominent in their fields, and hold
senior positions within leading corporations and academic institutions. These experts provide
New Leaf and its portfolio companies with their own invaluable insights, but equally
importantly open up their networks of contacts in ways that vastly expand and strengthen New
Leaf’s own network.
Therapeutics Advisors
New Leaf works with a broad range of industry advisors to support its investment activities in
therapeutics. The Fund Managers work on an as needed basis with a large group of advisors
that includes contacts from industry and academia that each of the investment professionals
within the firm has cultivated through their own professional and academic experiences. The
Fund Managers solicit input from advisors on an as needed basis to get valuable input on
specific scientific, clinical, and commercial issues and topics relevant to diligence on new
investment opportunities, and to the management of existing portfolio companies. This
network gives New Leaf timely and valuable access to some of the world’s leading academic
scientists and experienced practitioners/executives from industry, and brings their subject
matter expertise to bear across the myriad of topics that are critical to New Leaf’s decision
making in the therapeutics sectors. Because of the breadth of topics where this type of outside
input is required, and due to the fact that the science and technology is evolving rapidly in most
of these fields, New Leaf has not created a formal advisory board for therapeutics
Information Convergence Advisory Board
The Fund Managers have assembled an additional advisory board to support activities in
Information Convergence. This group of advisors has a breadth of experience in the
development and deployment of new information technologies that are reshaping healthcare.
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Their collective experience is from industry, including leading large and entrepreneurial
corporations, as well as from the provider side, including senior administration of one of the
world’s most prominent and forward-thinking teaching hospitals. These professionals include
the following:
John Halamka, M.D., is a physician and technology leader who focuses on electronic health
records as well as secure sharing of healthcare data for care coordination, population health,
and quality improvement. He is currently Chief Information Officer of Beth Israel Deaconess
Medical Center and also a practicing Emergency Physician and Professor at Harvard Medical
School. He is current Chairman of the New England Healthcare Exchange Network (NEHEN),
co-chair of the national HIT Standards Committee, and co-Chair of the Massachusetts HIT
Advisory Committee.
Lee Newcomer, M.D., Senior Vice President, UnitedHealthcare with strategic responsibility for
Oncology, Genetics and Women’s Health. Dr. Newcomer returned to UnitedHealthcare in
2006 to focus on combining clinical, financial and administrative incentives for improved and
affordable cancer care. From 1991 to 2000, Dr. Newcomer was the chief medical officer at
UnitedHealthcare. He is a board certified medical oncologist and former chairman of Park
Nicollet Health Services and was previously a medical director for CIGNA Health Care of
Kansas City. Dr. Newcomer was a founding executive of Vivius, a consumer directed venture
that allowed consumers to create their own personalized health plans.
Stephen Oesterle, M.D., Senior Vice President for Medicine and Technology, Medtronic Inc. Dr.
Oesterle is focused on the formation of technological strategies and continued development of
relationships with the world’s medical communities. He previously served as an Associate
Professor of Medicine at the Harvard University Medical School and as Director of Invasive
Cardiology Services at Massachusetts General Hospital.
Marcia Radosevich, Founder and CEO of HPR, a HCIT company that was sold to McKesson.
Her prior experience was with Managed Health Care Services, The Travelers Insurance
Companies, and Health Data Institute (a healthcare consulting firm).
Anand Shroff, Chief Technology and Product Officer and Co-Founder, Health Fidelity, Inc.
Prior to joining Health Fidelity, Mr. Shroff was VP of HIE and EHR Products at Optum (a
division of UnitedHealthcare). He came to Optum by way of acquisition of Axolotl Corporation,
a leader in the health information exchange (HIE) space. Anand was also a founding member of
the Oracle Healthcare team, and was responsible for Oracle’s healthcare product portfolio that
included healthcare analytics, clinical data management, and terminology mediation solutions.
David Watson, Vice President of Healthcare Product Strategy, Oracle. Previously he was the
Chief Operating Officer of MedeAnalytics, and prior to that was Senior Vice President and
Chief Technology Officer of Kaiser Permanente. Prior to Kaiser, Mr. Watson served in a variety
of executive IT roles at Baxter Healthcare, Allergan, Northrup Grumman, and Mattel. He is a
senior HCIT executive with 25 years of experience delivering client facing solutions in the broad
areas of application development, infrastructure engineering, business consulting, strategy,
architecture and operations.
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David Whittlinger, Executive Director, New York eHealth Collaborative. Prior to working with
NYeC, served as the Director of Healthcare Device Standards and Interoperability for the Intel
Corporation in its Digital Health Group. Mr. Whitlinger was responsible for Intel’s healthcare
device interoperability strategies and standards development. He has also led a large, crossindustry
consortium, the Continua Health Alliance, focused on the establishment of an
ecosystem of interoperable, personal telehealth systems. Prior to establishing the Healthcare
Device Standards Group, he worked on a wide variety of wireless standards within Intel.
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III. SUMMARY OF HISTORICAL INVESTMENT PERFORMANCE
The Fund Managers’ long term track record in healthcare technology investing clearly
establishes the team as one of the most successful in the venture capital industry over the last
two decades. Over an 18 year period and across the portfolios of six distinct venture funds
focused on healthcare technology investments, the Fund Managers have delivered net
performance that has consistently outperformed venture industry benchmarks and relevant
public equity market indices 15,16 . The Fund Managers’ track record is notable for the following
reasons:
� Performance has been consistently top-quartile since the mid-1990s:
NLV-I, NLV-II and the healthcare technology portfolios in the Sprout Capital funds
have invested over $1.6 billion in healthcare technology companies since 1995. Over this
time, The Fund Managers’ returns have consistently exceeded Cambridge Associates’
top-quartile benchmarks for U.S. venture capital healthcare and/or U.S. total venture
capital. 16
�
Exceeded relevant public equity indices by substantial margins on all realized funds:
The Fund Managers invested $1.02 billion in the portfolios of healthcare technology
investments in four Sprout Capital funds (Sprout Capital IX, L.P., Sprout Capital VIII,
L.P., Sprout Capital VII, L.P. and Sprout Growth II, L.P.), and these are now fully
realized (or near fully realized in the case of Sprout Capital IX). The net annual IRR’s on
these four funds outperformed the S&P 500 (568 – 2,259 bps), S&P Healthcare (302 –
2,066 bps), NASDAQ Composite (451 – 2,125 bps), and the Russell 3000 (502 – 2,215 bps)
using the Public Market Equivalent Plus (PME+) methodology 17 . Although PME+
methodology is most informative when used to analyze funds whose returns are
mature, the PME+ methodology shows that NLV-I is outperforming these same indices,
and shows encouraging results for NLV-II despite its relative immaturity.
It is this consistently high level of return over an 18 year period, spanning several challenging
investment cycles, that creates a truly unique track record within the venture capital sector.
INVESTMENT PERFORMANCE WITHIN INDIVIDUAL FUNDS
The New Leaf team has invested over $1.67 billion in 126 healthcare technology companies
within 6 distinct funds since 1995. These funds included NLV-I and NLV-II and the healthcare
technology investments in four Sprout Capital funds (Sprout Capital IX, L.P., Sprout Capital
VIII, L.P., Sprout Capital VII, L.P., and Sprout Growth II, L.P., together the “Sprout Funds”). In
aggregate, the team has exited or partially exited investments in 92 companies, generating gross
realizations of over $2.6 billion and a gross realized cash-on-cash return and internal rate of
return (IRR) of 2.1x and 17%, respectively. Corresponding net returns on the portfolios in each
of these funds are provided in Appendix 2.
15 Please see Section XIII: “Appendices” and the endnotes in Appendix 4. Disclosure of past performance herein is for
informational purposes only and is not indicative of future results.
16 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices” and endnote C
(regarding information provided by Cambridge Associates) in Appendix 4.
17 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices; Appendix 3”
(regarding the PME+ methodology) and endnotes B, D E and F in Appendix 4.
18
CONTROL NUMBER 257 - CONFIDENTIAL
New Leaf Funds
NLV-I has capital commitments of $310 million, and the Fund Managers began investing in
mid-2005. The fund completed its new investment period in early 2008 with a portfolio of 22
companies. NLV-I has fully realized 13 investments, and there are nine active investments in
companies and contingent value rights (CVRs) from three of the realized investments remaining
in the fund. NLV-I is a relatively young fund, with the majority of the cost basis still at work,
and to date has generated a gross realized IRR of 23%, and a gross total IRR of 19%. NLV-I has
a net total multiple of 1.76x and a net IRR of 12.1%. NLV-I has a distributed to paid-in-capital
ratio of 0.51x, and the Fund Managers believe the fund has significant future returns potential
from the remaining active investments in the portfolio as well as from potential payments from
CVRs on three realized investments. NLV-I is in the top quartile of funds tracked by
Cambridge Associates for U.S. healthcare venture capital in the 2005 vintage year.
NLV-II has capital commitments of $450 million, and the Fund Managers began investing in
2008. The fund will complete its new investment period by mid-2014. NLV-II currently has a
portfolio consisting of 35 companies. NLV-II has realized or partially realized 13 investments,
and there are 22 other active investments and a small public portfolio remaining in the fund.
NLV-II is still an immature fund in terms of level of realizations, and to date has generated a
gross realized IRR of 34%, and a gross total IRR of 30%. NLV-II has a net total multiple of 1.44x
and a net IRR of 16.4%. NLV-II has a distributed to paid-in-capital ratio of 0.50x, and the Fund
Managers believe the fund has significant future returns potential from the remaining active
investments in the portfolio. The Fund Managers believe that NLV-II has unusually positive
liquidity characteristics for a life sciences focused venture capital fund of its age, with just over
65% of the fund’s current carrying value in the form of public securities (as of March 31, 2014).
NLV-II’s current performance places the fund in the top quartile of funds tracked by Cambridge
Associates for U.S. venture capital in the 2008 vintage year.
Additionally, over the investment period of NLV-I, the net annual IRR is outperforming
relevant public market indices when compared on a public market equivalent basis (PME+).
NLV-II’s net annual IRR shows encouraging results thus far for a relatively immature fund 18 .
The range of outperformance for each of these portfolios versus the S&P 500, S&P Healthcare,
NASDAQ Composite, and the Russell 3000 through March 31, 2014 is the following:
Net IRR Outperformance vs. Public Indices (PME+ Methodology)
S&P
500
S&P
Healthcare
NASDAQ
Composite
Russell
3000
New Leaf Ventures I, L.P. +496 bps +201 bps +181 bps +446 bps
New Leaf Ventures II, L.P. +275 bps -187 bps -21 bps +218 bps
18 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices; Appendix 3” and the
endnotes thereto (regarding the PME+ methodology).
19
CONTROL NUMBER 257 - CONFIDENTIAL
Sprout Capital Healthcare Technology Portfolios:
Since 1995, members of the New Leaf team made all of the healthcare technology investments in
the Sprout Funds while they were part of the investing team at the Sprout Group. The Sprout
Funds were venture capital funds that were diversified across several sectors including
information technology, communications, services, and healthcare technology. The healthcare
technology investments in the four Sprout Funds included $1.019 billion in total cost, which
was invested in new and follow-on investments in 69 companies from 1995 to 2013. The
healthcare technology investments in the first three of these funds are now fully realized, and
those in Sprout IX are nearly fully realized. To date, across these four funds, the New Leaf team
has generated $1.997 billion of realizations in the aggregate (63 realized investments), and there
is $68 million in unrealized value in six unrealized investments.
The net annual IRR performance on the healthcare technology portfolios in each of the Sprout
Funds would place them in the top quartile of all healthcare venture capital funds tracked by
Cambridge Associates in each of the vintage years for which they have established a
benchmark 19 . Additionally, over an 18 year period the net annual IRR on these portfolios
outperformed relevant public market indices when compared on a public market equivalent
basis (PME+) 20 . The range of outperformance for each of these portfolios versus the S&P 500,
S&P Healthcare, NASDAQ Composite, and the Russell 3000 through March 31, 2014 is the
following:
Net IRR Outperformance vs. Public Indices (PME+ Methodology)
S&P
500
S&P
Healthcare
NASDAQ
Composite
Russell
3000
Sprout Capital IX, L.P. * +638 bps +776 bps +451 bps +565 bps
Sprout Capital VIII, L.P. * +587 bps +441 bps +725 bps +502 bps
Sprout Capital VII, L.P. * +568 bps +302 bps +554 bps +554 bps
Sprout Growth II, L.P. * +2,258 bps +2,064 bps +2,125 bps +2,215 bps
*Healthcare Technology Portfolios
19 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices” and the endnote C in
Appendix 4 regarding information provided by Cambridge Associates.
20 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices; Appendix 3” and the
endnotes thereto (regarding the PME+ methodology).
20
CONTROL NUMBER 257 - CONFIDENTIAL
Current gross and net portfolio returns for the New Leaf funds and for the healthcare
technology portfolios in the Sprout Funds are detailed in the following chart:
Chart 1: Returns by Fund
As of March 31, 2014
($ in millions)
Fund:
Fund Size:
Growth II
HCT
*
$15M Fund
Sprout VII
HCT
*
$95M Fund
Sprout VIII
HCT
*
$147M Fund
Sprout IX
HCT
*
$690M Fund
NLV-I
$310M Fund
NLV-II
$450M Fund
Paid-In Capital $15M $95M $147M $690M $303M $407M
Vintage Year: (1993 - 2007) (1995 - 2011) (1998 - 2012) (2000) (2005) (2008)
First Investment 1995 1995 1998 2000 2005 2008
Gross Fund Returns
N
Total Multiple
N
Realized Multiple
4.4x
4.4x
2.6x
2.6x
1.7x
1.7x
2.0x
2.2x
2.1x
1.7x
1.8x
2.0x
D
Total IRR
D
Realized IRR
44%
44%
19%
19%
10%
10%
15%
17%
19%
23%
30%
33%
Net Fund Returns
N
Net Total Multiple
D
Net Total IRR
*
3.69x
*
28.9%
*
2.17x
*
12.0%
*
1.49x
*
6.0%
*
1.66x
*
9.3%
1.75x
12.0%
1.45x
16.7%
Net Distributed / Paid-In Multiple
F
*
3.69x
*
2.17x
*
1.49x 1.55x * 0.51x 0.50x
Net Distributed $s to LPs $56.3 $207.0 $218.7 $1,071.5 $154.7 $204.2
Interim Fund Liquidity Metrics
G
(Distributed + Public) / Paid-In Multiple -- -- -- 1.62x 0.74x 1.18x
H
(Distributed + Liquid Public) / Paid-In Multiple -- -- -- 1.58x 0.57x 0.75x
IRR Outperformance Versus Public Indices
**
PME+ (Basis Points over S&P 500 Healthcare Sector) +2,064 bps +302 bps +441 bps +776 bps +201 bps -187 bps
**
PME+ (Basis Points over S&P 500) +2,258 bps +568 bps +587 bps +638 bps +496 bps +275 bps
PME+ (Basis Points over Russell 3000)
**
+2,215 bps +554 bps +502 bps +565 bps +446 bps +218 bps
PME+ (Basis Points over Nasdaq Composite)
**
+2,125 bps +554 bps +725 bps +451 bps +181 bps -21 bps
NLV and Sprout fund data as of March 31, 2014. Sprout fund statistics computed based on healthcare portfolio within Sprout.
* See Appendix 2 and endnotes A and E in Appendix 4. Based on synthetic funds with assumptions around recycling and fee structure.
** Based on Public Market Equivalent (PME+) methodology. See Appendix 3 and endnotes A, B, E and G in Appendix 4.
Please Section XIII: “Appendices” for definitions of terms and/or methodology.
21
CONTROL NUMBER 257 - CONFIDENTIAL
INVESTMENT PERFORMANCE BY SECTOR
BIOPHARMACEUTICAL RETURNS SUMMARY:
The New Leaf team’s biopharmaceutical investment performance has been strong in all funds.
In aggregate, the New Leaf team has invested $945 million in 64 biopharmaceutical
investments, and the historic realized biopharmaceutical results are 2.29x gross realized cashon-cash
return (“Multiple”) and a 21.4% gross realized IRR. These realized returns have been
driven by successful early and later stage investments. Table 1 summarizes the gross realized
and unrealized returns from biopharmaceutical investments in each New Leaf fund and the
Sprout Funds.
Table 1: Gross Biopharmaceutical Performance by Fund Group
$ amounts in millions, as of March 31, 2014
Gross Value Gross Multiple Gross IRR
Deals Total Cost Total Realized Unrealized Realized Overall Realized Overall
New Leaf Ventures II, L.P. (2008) 20 $209.0 $508.5 $218.0 $290.4 2.59x 2.43x 67.5% 58.3%
New Leaf Ventures I, L.P. (2005) 14 $205.6 $501.6 $167.3 $334.4 1.68x 2.44x 22.8% 23.5%
All Sprout Funds (1993, 1995, 1998, 2000) 30 $533.5 $1,217.0 $1,163.9 $53.1 2.37x 2.28x 20.6% 20.0%
Total 64 $948.2 $2,227.1 $1,549.2 $677.9 2.29x 2.35x 21.4% 21.6%
Please see the endnotes in Appendix 4 for definitions of terms and/or methodology. Note that these gross returns are for portions of each fund,
broken out by investment sector subfocus. Management fees, the general partner’s carried interest and other expenses are applied on a fund level
and not based on individual investments or a portion of the investment portfolio. For net returns on each fund which would include these items,
please see Appendix 2.
INFORMATION CONVERGENCE RETURNS SUMMARY:
While New Leaf restarted new investment activity in information convergence opportunities in
NLV-II, the Fund Managers already had an established track record in this sector from 9
investments in the Sprout Funds. In total, the Fund Managers have made 17 investments in
this sector, for a combined total of $142 million of invested capital. The team has realized or
partially realized nine investments for combined gross realizations of $262 million and a 2.62x
gross realized Multiple and 18.8% gross realized IRR. Table 2 summarizes the gross realized
and unrealized returns from information convergence investments in each New Leaf fund and
the Sprout Funds:
Table 2: Gross Information Convergence Performance by Fund Group
$ amounts in millions, as of March 31, 2014
Gross Value Gross Multiple Gross IRR
Deals Total Cost Total Realized Unrealized Realized Overall Realized Overall
New Leaf Ventures II, L.P. (2008) 8 $46.0 $59.0 $12.5 $46.5 3.44x 1.28x 95.5% 16.0%
New Leaf Ventures I, L.P. (2005) 0 $0.0 $0.0 $0.0 $0.0 N/A N/A N/A N/A
All Sprout Funds (1993, 1995, 1998, 2000) 9 $96.2 $249.2 $249.2 $0.0 2.59x 2.59x 18.6% 18.6%
Total 17 $142.1 $308.2 $261.7 $46.5 2.62x 2.17x 18.8% 18.5%
Please see the endnotes in Appendix 4 for definitions of terms and/or methodology. Note that these gross returns are for portions of each fund,
broken out by investment sector subfocus. Management fees, the general partner’s carried interest and other expenses are applied on a fund level
and not based on individual investments or a portion of the investment portfolio. For net returns on each fund which would include these items,
please see Appendix 2.
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MEDICAL DEVICES RETURNS SUMMARY:
The Fund Managers have been an active investor in the medical device sector across the New
Leaf and Sprout Funds. Combined, the Fund Managers have invested $371 million in 29
medical device companies, and have gross realizations of $394 million and a 1.82x gross realized
Multiple and 9.4% gross realized IRR. Table 3 summarizes the gross realized and unrealized
returns from medical device investments in each New Leaf fund and the Sprout Funds:
Table 3: Gross Medical Device Performance by Fund Group
$ amounts in millions, as of March 31, 2014
Gross Value Gross Multiple Gross IRR
Deals Total Cost Total Realized Unrealized Realized Overall Realized Overall
New Leaf Ventures II, L.P. (2008) 5 $72.0 $52.5 $1.8 $50.6 0.11x 0.73x N/A -9.2%
New Leaf Ventures I, L.P. (2005) 6 $73.3 $146.4 $67.3 $79.2 5.64x 2.00x 58.8% 15.5%
All Sprout Funds (1993, 1995, 1998, 2000) 18 $225.2 $328.9 $325.1 $3.7 1.73x 1.46x 8.3% 6.1%
Total 29 $370.5 $527.8 $394.2 $133.5 1.82x 1.42x 9.4% 6.6%
Please see the endnotes in Appendix 4 for definitions of terms and/or methodology. Note that these gross returns are for portions of each fund,
broken out by investment sector subfocus. Management fees, the general partner’s carried interest and other expenses are applied on a fund level
and not based on individual investments or a portion of the investment portfolio. For net returns on each fund which would include these items,
please see Appendix 2.
TOOLS, DIAGNOSTICS, & INFRASTRUCTURE RETURNS SUMMARY:
The Fund Managers have made investments in the tools, diagnostics, and infrastructure sector
across the New Leaf and Sprout Group funds. The strategy has included predominantly
later/commercial stage tools and infrastructure investments and a mix of early/development
stage and later/commercial stage diagnostics companies over time. Combined, the Fund
Managers have invested in 17 companies, for a total $221 million in cost. The Fund Managers
have generated gross realizations of $261 million, for a 1.50x gross realized Multiple and 14.2%
gross realized IRR. Table 4 summarizes the gross realized and unrealized returns from tools,
diagnostics, and infrastructure investments in each New Leaf fund and the Sprout Funds:
Table 4: Gross Tools, Diagnostics, & Infrastructure Performance by Fund Group
$ amounts in millions, as of March 31, 2014
Gross Value Gross Multiple Gross IRR
Deals Total Cost Total Realized Unrealized Realized Overall Realized Overall
New Leaf Ventures II, L.P. (2008) 3 $31.0 $36.1 $0.0 $36.1 0.00x 1.16x N/A 4.8%
New Leaf Ventures I, L.P. (2005) 2 $25.7 $1.7 $1.7 $0.0 0.06x 0.06x N/A N/A
All Sprout Funds (1993, 1995, 1998, 2000) 12 $164.0 $273.1 $258.8 $14.3 1.88x 1.67x 16.4% 13.9%
Total 17 $220.7 $310.9 $260.5 $50.4 1.50x 1.41x 14.2% 11.9%
Please see the endnotes in Appendix 4 for definitions of terms and/or methodology. Note that these gross returns are for portions of each fund,
broken out by investment sector subfocus. Management fees, the general partner’s carried interest and other expenses are applied on a fund level
and not based on individual investments or a portion of the investment portfolio. For net returns on each fund which would include these items,
please see Appendix 2.
For further detail on prior performance, please refer to the Appendices and endnotes hereto.
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IV. OPPORTUNITY IN THE HEALTHCARE SECTOR
The Fund Managers believe a number of macro market factors have aligned to create attractive
and lasting conditions for NLV-III’s targeted investment strategy in healthcare technology.
Each of these market factors individually would have a direct positive impact on the level of
risk and the potential for returns from investments in the healthcare technology sector. The fact
that there are positive trends in all of them occurring simultaneously is unprecedented, and the
Fund Managers expect that this will create a uniquely positive environment for NLV-III’s
investments in the healthcare technology sector. These macro market factors include the
following:
STRONG GROWTH IN GLOBAL HEALTHCARE MARKETS
Healthcare is one of the largest and most dynamic segments of the global economy, and its
growth is projected to continue the well-established historical trend of outpacing GDP growth
in major economies for at least the next decade. 21 In the U.S., since 1970, health care spending
per capita has grown at an average annual rate of 8.2% or 2.4 percentage points faster than
nominal GDP. The persistence of this trend suggests systematic differences between health care
and other economic sectors where growth rates are typically more in line with the overall
economy. A smaller difference is projected over the 2011 to 2020 period, where the average
annual growth in per capita health spending (5.3%) is projected to be about 140 basis points
higher than the growth in GDP (3.9%) 22 . This powerful and sustained growth differentiates
healthcare from many other large industrial and technology sectors, and it creates a positive
backdrop for investment in certain areas within the sector.
The drivers of healthcare market growth vary between mature and emerging economies, but in
both cases the shifts are resulting in significant increases in per capita health care consumption
and predictable increases in spending to meet the rising demand. In developed economies,
growth is being driven primarily by an aging population coupled with a continued willingness
of payers to cover the costs for new therapeutics and interventions that meaningfully extend or
improve the quality of patients’ lives. In the U.S., which is representative of the demographic
shifts in other major economies, the number of people over 65 is expected to double over the
next three decades, reaching 70 million by 2030 or roughly 20% of the total U.S. population. 23
This aging demographic has a higher prevalence of disease and the cost of delivering care to
treat the diseases of this older demographic is rising steadily. For example, in 2009, the per
capita health care cost for a person 65 – 74 years old was approximately $14,000, but it was more
than double that ($33,000) for those over 85. Before the end of this decade, the projected per
capita annual cost to care for these same two groups is expected to rise to $22,000 (+57%) for 65
– 74 year olds and $55,000 (+67%) for those 85+ 24 .
Emerging markets such as Brazil, Russia, India and China (BRICs) are also contributing to the
growth in health care spending globally, as these emerging markets mature and begin moving
towards the standards of their counterparts in developed economies. The size of the middle
21 CMS, OECD, Eurostat
22 Historical data from Centers for Medicare and Medicaid Services, Office of the Actuary, National Health Statistics Group
23 U.S. Census Bureau
24 Alvarez & Marsal healthcare, getting much closer to the cost precipice
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and upper classes in these countries is growing rapidly, and the spending power of these
groups is becoming important to the global economy in many sectors. As the populations of
these countries become more affluent, a greater proportion of their GDP is being spent on health
care, and this is leading to rapid growth in many different healthcare product sectors in these
countries. For example, China’s prescription drug market, which is projected to be the world’s
second largest by 2020, is projected to grow to more than $110 billion by 2015 – up from $50
billion in 2010. 25 The medical device market in China is showing a similar growth pattern, with
the current $17 billion medtech market (world’s fourth largest) projected to more than double
within the next five years. 26 This growth in emerging economies is expected to continue for the
foreseeable future, and as it does, it will open vast new markets for established healthcare
products companies in more developed countries, and will become increasingly important as a
percentage of sales of global brands. At the same time, it will create opportunities for smaller,
U.S. based companies to partner with large multinationals and domestic companies in the
BRICs that have established distribution channels in these markets.
SIGNIFICANT OPPORTUNITY CREATED BY HEALTHCARE REFORM &
RESTRUCTURING
As a result of the strong growth in healthcare expenditures, for at least the next decade, and
likely much longer, the healthcare industry in the U.S. will be going through a period of
significant reform and restructuring as the increasing healthcare costs place unsustainable fiscal
burdens on government programs. After years of dire predictions and endless debate amongst
elected officials, pundits, corporate leaders, and patient advocacy groups, there is recognition
that long term healthcare liabilities are a critical issue and require broad reform to control their
growth before they lead to irreparable fiscal harm. While much of the attention in these
initiatives is focused on identifying opportunities to cut costs, the silver lining in them for
investors is that their objectives also seek to improve the quality of healthcare and to
substantially broaden the population that has access to healthcare services covered by third
party payment.
In the U.S., the Federal Government has laid the foundations for restructuring the healthcare
system through two key pieces of legislation. First, the HITECH Act provides large government
subsidies for the adoption of IT tools by healthcare providers. The Federal Government has
recognized that a fundamental underpinning of healthcare reform is a massive upgrade of the
information technology infrastructure at all levels of the industry, and through this legislation
has earmarked $26 billion dollars in direct subsidies to catalyze investment in this area.
The second key piece of legislation is the ACA, which is being implemented as a first step in the
overhaul of the U.S. healthcare system. The ACA was signed into law in the U.S. in 2010 and
begins its implementation phase in 2014. It is a complex piece of legislation that is designed to
reform and overhaul many aspects of the U.S. healthcare system. The goals of the ACA are to
increase the affordability and rate of health insurance coverage for all Americans, and to control
the runaway growth in costs of health care faced by government, employers, and individuals.
The ACA mandates a number of broad reaching mechanisms to achieve these goals, and
25 Reuters
26 InVivo (Elseveir), June 2013
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introduces a range of new incentives/penalties that force market participants to address major
cost, efficiency, and quality issues within the healthcare system.
The ACA and other healthcare reform initiatives are challenged by dual and somewhat
conflicting objectives. They are focused on reducing costs and slowing growth rates in
spending, but at the same time expand the size of the population that has access to healthcare
covered by third party payment mechanisms. In order to cover the increased costs of the
expanded coverage, reform initiatives attempt to radically improve the efficiency of healthcare
delivery as a way of freeing up resources that can be redirected to providing care to populations
that had previously not been covered. Some of the lowest hanging fruit that is being targeted in
early reform initiatives is eliminating waste from the healthcare system. There are enormous
resources that can be freed up by eliminating expenditures that are unnecessary or duplicative.
In the U.S. healthcare system alone, there is an estimated $765 billion that is wasted annually.
More than half of that total ($415 billion) is the result of fraud, unnecessary services, and
inefficiently or mistakenly delivered care. Another 25%+ of the total ($190 billion) is the result
of excess administrative costs (e.g., inefficiencies associated with paperwork and
documentation) 27 . Finding ways to reduce waste in the system offers the opportunity to create
significant value, but requires the adoption of entirely new tools and technologies by payers,
providers, and patients. Developing these tools, applications, and systems is an area of
significant opportunity for innovative technology focused companies.
A major part of eliminating waste in healthcare will be accomplished by driving efficiency and
deriving maximum benefit from the enormous levels of current expenditures. Achieving this
goal will have to include a fundamental change in focus to the principles of value-based
medicine across all levels of the healthcare system. This is a radical change in objectives that is
already happening, and it is leading to entirely new reimbursement models built around paying
for technologies and treatments that provide care efficiently and at a cost proportional to the
health benefit they deliver. Value-based medicine focuses on outcomes from healthcare
services, which more closely aligns the interests of the payers with the healthcare providers and
product companies whose services and products are the major cost elements in the delivery of
healthcare. Although simple conceptually, this is a fundamental change in how healthcare is
paid for from the historical reimbursement models that have focused on fixed payments for
delivery of discrete procedures, with no corresponding emphasis on quality of the care
delivered or on the resulting patient outcomes.
Refocusing treatment objectives within the healthcare system towards high quality outcomes
over numbers of procedures will require many healthcare companies to reengineer aspects of
their business models, but it will also provide them with new opportunity. In a system that
rewards outcomes, companies and organizations that run with the highest quality and most
efficiently will have significant opportunity to expand their own returns by taking on risk in the
treatment of patients. Opening the market to this dynamic, where there is opportunity to earn a
return on cost-effective, high quality patient management and outcomes, will stimulate the
development and adoption of an entirely new set of enabling technologies and business models,
which represent opportunity for innovative, technology-based, development and growth stage
companies.
27 National Academy of Sciences, “Best Care at Lower Cost: The Path to Continuously Learning Health Care in America”
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CONTROL NUMBER 257 - CONFIDENTIAL
There is no question that the shift to value-based reimbursement models will have a major
impact on the economics of healthcare. Payers will be looking for ways to significantly reduce
costs in all areas where a range of viable lower cost solutions are available, and will force
providers to use those wherever possible through increasingly restrictive reimbursement
policies. As an example, one area where this type of change has been implemented successfully
for years is in the increased use of generic drugs, where payers no longer offer unrestricted
reimbursement for the use of high cost, premium priced branded biopharmaceutical products
that deliver only minor benefits in terms of convenience, or slight improvements in efficacy to
small percentages of patients. This type of value-based review is now going on in all areas
within healthcare, and is resulting in changes that are having a major impact on what services
and products are selected, and who bears what percentage of the cost of that selection.
At the same time that payers and other ‘at-risk’ organizations are looking for any and all
opportunities to move to lower cost alternatives, they are also continuing to invest in the
adoption of innovative new therapeutics which can both improve outcomes and deliver
quantifiable value, even when considering their additional costs and premium pricing. The
products that receive this type of support from payers are ones that are focused on addressing
truly unmet medical needs and deliver significant efficacy or safety benefits to patients, when
compared to existing standards of care. They are also usually based on new technologies that
enable novel approaches to the treatment of diseases and disorders. There are vast areas in
medicine where large unmet medical needs exist and where scientific and technological
progress is enabling entirely new approaches to addressing these. Where these intersect are
areas of great opportunity for experienced investors.
RAPID ACCELERATION IN INNOVATION IN TARGETED SECTORS
Biopharmaceuticals:
Decades of government and industry investment in the study of the biological and genetic basis
of disease is translating into a steady stream of new products with improved efficacy and
decreased toxicity, and these are transforming how many high-morbidity diseases can be
treated. Through this growing body of work, a much deeper understanding of the biochemical
pathways underlying complex diseases is emerging, which is leading to identification of many
new molecular targets for drug therapy. This targeted approach to pharmaceutical R&D is a
fundamental change from the historical process that relied on large-scale, random screening of
drug candidates for activity. A whole new generation of products targeting diseases at the
molecular level is emerging and these offer much higher levels of efficacy and improved safety
to specific groups of patients whose disease is well characterized by biomarkers that are tightly
linked to the mechanisms of the underlying disease. This more targeted approach to discovery
and development offers important benefits to all constituents, which ultimately improves the
investment environment in biopharmaceuticals.
Oncology (i.e., cancer) is one therapeutic area where some of the most significant progress has
been made recently. Targeted therapies in certain indications in oncology now provide for
more effective treatments with fewer side effects than one-size-fits-all chemotherapy drugs. For
example, new therapies have recently been developed that target specific subsets of malignancy
through molecular targets including EGFR, HER2, and BRAF that have led to dramatic
improvement in the treatment of certain cancers (e.g., lung, pancreatic, colon, breast, melanoma,
and several hematologic cancers). It is expected that the next wave of advances will transform
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these diseases further from what has historically been a death sentence into a chronic, treatable
condition. As this happens, huge markets will be created for entirely new biopharmaceutical
products. While cancer is the leading disease area, this pace of dramatic scientific and
technological progress is extending into several other areas of medicine and will likely
accelerate. Many of the initial examples of targeted or personalized therapies in non-cancer
indications have been in rare or so called ""orphan"" diseases following discovery of the
underlying genetic abnormalities. This period of rapid technology advancement establishes a
cycle of innovation in the market that creates great opportunity for highly focused, small,
companies.
Information Convergence:
The rate of innovation in information convergence has already accelerated relative to the
historical rate of innovation in healthcare information technology (“HCIT”) due to several
underlying factors. First, as mentioned, the HITECH Act provided billions in direct incentives
to encourage healthcare providers to adopt information technology, beginning with electronic
medical record (“EMR”) systems. This led to a significant increase in spending on EMRs which
benefitted large established EMR vendors, but it also benefitted new smaller players in the EMR
market. Importantly, the broad upgrade of information technology and deployment of EMRs
across the healthcare provider market has established a technology infrastructure in the market
that benefits an entirely new generation of companies that are developing technologies that
layer onto existing EMRs and address the next levels of IT adoption. This next level of
information technology adoption is dictated by the HITECH Act through a series of
“meaningful use” incentive initiatives.
Another key factor that has led to an acceleration in innovation in information convergence is
that most of the highest value innovation in this sector is arising from integrating technologies
that have been discovered, developed, validated, and implemented in completely different
sectors (e.g., cloud storage, mobile computing, wireless communications, web-delivered
software, diagnostics and sensors). These product development efforts draw heavily from
existing technologies and allow small companies focused on addressing discrete problems and
opportunities within the healthcare market to develop and launch products with minimal
technology discovery. The bulk of the effort in these activities is in rapidly creating high value
products by combining well-understood and available technologies, and getting them into the
hands of customers to evaluate their performance in real world use conditions. This early
customer experience allows companies to generate revenues early in their life, but also provides
valuable user feedback which can be used to continuously improve product design elements.
The benefit of this type of product development effort in the information convergence sector is
that it reduces risk, lowers capital requirements, and results in more predictable timelines.
Considering the size of the opportunity and the large number of discrete problems and
inefficiencies that must be addressed, the Fund Managers expect the next decade will be a
period of robust innovation and company creation. Smaller companies are likely to thrive
during this period as they are better able to quickly move from opportunity to product launch.
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CONTRACTION IN HEALTHCARE VENTURE CAPITAL INDUSTRY & CAPITAL MARKET
DYNAMICS MORE BROADLY CREATE OPPORTUNITY IN DEVELOPMENT STAGE AND
EARLY COMMERCIAL STAGE COMPANIES
For the last several decades the healthcare venture capital industry has been the predominant
source of early and growth stage funding for smaller, technology focused companies while they
pursue product development, regulatory approval, and early commercialization. Over the last
several years, there has been a significant contraction in the size of the healthcare venture
capital industry in terms of amount of capital available to fund new companies, and the number
of active firms investing in new companies. This contraction creates significant opportunity for
those funds that remain active, as fewer firms and less capital is translating into less
competition for deals. The Fund Managers have benefited from the reduced level of
competition during the new investment period for NLV–II, and they believe these conditions
will remain in place for at least part of the new investment period of NLV-III. It is too soon to
know for sure, but it is likely the industry may have already reached the bottom of this cycle of
contraction and could see a re-set that begins to shift the industry to more normalized
conditions due to the recent stronger IPO and M&A markets.
Life Sciences Venture Fundraising
Investments into Biopharma and Medical Devices
Life Sciences Venture Fundraising - Dollars Raised ($B) **
$10.0
Life Sciences Venture Financings – $ Invested ($B) and Count
$15.0
700
$8.0
$6.0
$4.0
$2.0
$7.8 $7.8
$2.8 $2.9 $3.0
$2.5
$12.0
$9.0
$6.0
$3.0
404
$6.1
$1.2
$4.8
422
$5.7
$1.7
$4.1
485
$7.2
$2.3
$4.9
541
$8.5
$2.9
$5.7
517
500 499 498
$6.9
$6.3
$6.5
$5.6
$2.5
$2.2
$1.8
$2.5
$4.4 $4.0 $3.8 $4.0
422
$5.1
$2.0
$3.1
600
500
400
300
200
100
$0.0
2007 2008 2009 2010 2011 2012
$0.0
2004 2005 2006 2007 2008 2009 2010 2011 2012
0
Venture Capital Fundraising Allocated to Life Sciences
Biopharmaceuticals Therapeutic Medical Devices Deal Count
Source: Venture investments data from VentureSource (U.S. only). Includes therapeutic medical devices only.
** “Life Sciences Venture Fundraising data from Dow Jones; Fenwick & West Analysis in 2012 Trends in Terms of Life Science Venture Financings
The market for IPOs was strong during 2013 and the first quarter of 2014 for companies with
compelling stories based on differentiated technology, targeting important unmet medical
needs, large market opportunities, and experienced management teams. Although the number
of IPOs in the healthcare technology sector increased significantly, most of that activity was
driven by offerings for biopharmaceuticals companies. The significant increase in IPO activity
was driven by a number of factors, but one that had an important impact is the Jumpstart Our
Business Startups Act (JOBS Act). This legislation was signed into law in the U.S. in April, 2012
and it changed the regulations governing how certain private companies can interact with
investors in advance of an IPO. Under the new regulations, emerging growth companies can
file their IPO draft registration statement privately with the SEC, and continue to meet with
interested investors over several weeks or months to explain clearly their company strategy and
technology in “testing the waters” meetings. The Fund Managers believe these new regulations
are especially helpful to private biopharmaceutical companies, as they allow interested
29
CONTROL NUMBER 257 - CONFIDENTIAL
investors to grasp the complexities and opportunities of the small biotech companies before the
formal filing of their IPO registration statements, and the start of the traditional IPO road show.
The Fund Managers believe the JOBS Act and the use of “testing the waters meetings” has been
one of the factors that helped open the current biotech IPO window, expanded the base of
investors (public market specialist and generalist investors) participating in the recent offerings,
and helped drive the after-market performance of many of these offerings.
Biopharma IPO Trends
($ in millions)
$3,000
$2,852
40
Capital Raised ($ in millions)
$2,500
$2,000
$1,500
$1,000
$500
$0
$2,028
20
15
13
36
23
$1,451
$1,501
19
$754 $778
$693 8
0 2
$153
11
$526
$0
11
$769
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Q1
35
30
25
20
15
10
5
0
# of IPOs
Pre‐Phase 3 Phase 3 Marketed # of IPOs
The combination of all of these positive factors has significantly strengthened the position of
smaller development and early commercial stage healthcare technology companies, and creates
a unique period of opportunity for investors in the sector.
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V. NEW LEAF VENTURE PARTNERS INVESTMENT STRATEGY
New Leaf’s investment strategy is differentiated in the venture capital industry in terms of its
sector focus, specific approaches within each sector, and the depth of experience and long-term
track record that supports each element of the strategy. NLV-III will be invested in a diversified
portfolio across four sectors: a primary focus on Biopharmaceuticals and Information
Convergence, and a secondary focus on Medical Devices and Biological Research Tools &
Infrastructure. The Fund Managers believe that these are the sectors within the healthcare
technology industry where, with a targeted and specific sector strategy, there is the potential to
generate attractive returns within a time frame consistent with the goals of investors in a
venture capital fund. Importantly, the drivers behind the opportunity for value creation, major
risk factors, capital requirements, timelines, and universe of potential acquirers in each of these
sectors are distinct, and thus a portfolio constructed with investments with a combination of
these will benefit from this diversification.
The Fund Managers will invest the Fund in a diversified portfolio composed of an estimated 24
– 28 companies that will be predominantly domiciled in the U.S., but could include a small
number of companies based in Western Europe or Canada. The Fund Managers intend to serve
on the boards of directors for the majority of the companies in the portfolio and will generally
seek to establish ownership positions in companies that are large enough to allow them to exert
considerable influence on the company’s strategies, budgets, financing plans, operating
objectives, management team composition, and paths to exit.
Consistent with past transitions between funds, the Fund Managers have evolved the
investment strategy for NLV-III to reflect the team’s view of where the most attractive
opportunities will exist during the life of the Fund. The investment strategy for NLV-III will be
distinct from other recent funds in terms of the specific weightings that will be placed on the
targeted sectors, and certain considerations for company selection within those sectors.
BIOPHARMACEUTICALS INVESTMENT STRATEGY
As in all previous funds, biopharmaceutical investments will be the core focus for NLV-III and
will comprise approximately 50% - 60% of the Fund. The Fund’s biopharmaceutical
investments will be mostly in development stage and commercial stage private companies, and
will also likely include some investments in small capitalization public companies through
structured transactions. The Fund Managers intend to construct a well-diversified portfolio of
biopharmaceutical investments that includes a balanced mix of companies with earlier stage
and later stage development programs and product platform technologies. Regardless of stage,
by focusing on biopharmaceutical investments ahead of key risk inflection points, the Fund
Managers expect to fund companies through the periods of greatest value creation to points
where they will either become attractive targets for acquisition or partnership, or become of
high interest to public market investors. In some cases, private companies whose underlying
assets mature to these stages will become viable candidates for initial public offerings (IPOs) or
mergers into public companies.
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Focus: Private and public companies with novel product programs & product platforms
Investments in the biopharmaceutical sector within NLV-III will target companies that are
developing products that address clinically important unmet medical needs with competitively
differentiated technologies. The Fund will invest across all stages, usually in companies that fit
one of two different profiles. The first is companies with clearly differentiated, clinical stage
proprietary product programs focused on significant market opportunities, where value can be
built around a product(s) by financing it through one or more stages of clinical development,
and in some cases to regulatory approval and commercialization. The second are companies
with novel product platforms that are at or near the clinical stage with a lead product(s). These
companies build value around both the product(s) itself as it advances through clinical
development and around the product platform as its utility as a product creation engine is
validated through the progress of the lead product(s).
The Fund Managers expect to identify investment opportunities within private or public
companies whose primary asset(s) fall within one of the following categories:
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Early and mid-clinical stage product programs targeting a well validated mechanism of
action in a disease with significant unmet medical need. The therapeutic areas and
specific mechanisms of action will be known to be of high strategic interest to a number
of larger biopharmaceutical companies. The target product profiles of the therapeutic
product(s) for these assets will have clear points of competitive differentiation around
efficacy and/or safety versus available therapeutics (and known clinical stage
programs), and the clinical development programs behind them will be designed to
provide clear data in support of these. Examples of these types of biopharmaceutical
investments in the NLV portfolio are Array Biopharma (NLV-II, NASDAQ: ARRY,
oncology, exited at 2.25x), Chimerix (NLV-II, private initially, now public on NASDAQ:
CMRX, novel anti-viral therapy), and Versartis (NLV-II, private, novel, long-acting
human growth hormone).
Novel product platforms that offer the potential to target known, and well understood
pharmacologic mechanisms of action in entirely new ways, or a product platform that
has the potential to open up a field of entirely new pharmacologic mechanisms in
diseases with large unmet medical need and rapidly advancing understanding of the
underlying biology (e.g., hematologic and solid tumors). These platforms will be
supported by validating data that provide strong support for the underlying biological
hypotheses, and the companies will be at or approaching the clinical stage with an
owned or partnered lead product program. The product platforms will usually have
strong evidence of strategic interest from large or mid-sized biopharmaceutical
companies through one or more partnerships that have generated non-dilutive capital
for the company. Examples of three novel product platform companies in the NLV
portfolio are Pearl Therapeutics (NLV-I, private, pulmonology, exited at 2.5x plus
milestones), Epizyme (NLV-II, NASDAQ: EPZM, oncology, exited at 2.0x), and
Principia (NLV-II, private, immunology & oncology).
Later development stage and commercial stage, biopharmaceutical investments, where
the investment theses will be to create value by funding companies through Phase 3
clinical trials, regulatory approval, and into early commercialization. In some cases, the
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Fund will seek to fund companies much later into commercialization to the point of
sustainable profitability. These investments will be into private or small capitalization
public companies in situations where the Fund Managers believe that the key risk
inflection and the period of greatest value creation will be around regulatory approval
and demonstration of commercial attractiveness of the product. These investments will
focus on products where the level of clinical and regulatory risk is relatively low, and
where commercial penetration can be driven by smaller, highly targeted sales and
marketing activities. Biopharmaceutical companies at this stage have historically been
attractive acquisition targets, and have consistently demonstrated that they can access
public markets through IPOs in a broad range of market conditions. Examples of this
type of later stage investment in the New Leaf portfolio include Acadia Pharmaceuticals
(NLV-II, NASDAQ: ACAD, exited at 2.5x), Phase III, focused on psychosis associated
with neurodegenerative diseases, Durata Therapeutics (NLV-II, private initially, now
public on NASDAQ: DRTX), Phase III, focused on a late stage antibiotic development
program spun out of Pfizer, and InterCept Pharmaceuticals (NLV-II, NASDAQ: ICPT,
exited at 3.2x), Phase III, focused on an orphan indication in liver disease.
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Investments in public companies at any stage, whose primary assets are product
programs or product platforms. Most of these investments will be focused on small
capitalization companies at the clinical or early commercialization stage. New Leaf’s
focus on investment opportunities in small capitalization public biotech companies
leverage the broad investment capabilities within the firm and benefit from the focused
efforts of a small team of investment professionals dedicated exclusively to public
market activities. As a result of this integrated approach, investments in public
companies often target companies the Fund Managers have tracked over a number of
years, some from the time when they were private companies. The dedicated public
market team proactively tracks and screens the aggregate universe of biotech
companies, with the goal of identifying compelling risk/reward investment
opportunities. The primary focus of the screening efforts is to identify high-quality
companies with attractive valuations that require financing to fund the company
through key development milestones. The Fund will generally look to source or
augment transformative, structured transactions in public companies, where a New Leaf
partner will have the opportunity to join the board of directors. An example of an
investment that resulted from New Leaf’s focus on public market opportunities includes
MEI Pharma (NLV-II, NASDAQ: MEIP), an investment the Fund Managers made to
recapitalize the company after it had acquired a lead asset, Pracinostat, and needed
capital to advance the program through clinical development. Pracinostat was an asset
that was well known to New Leaf, as members of the team had followed it closely for
several years while it was owned by a private company (S*Bio), and had made attempts
to acquire and spin out the asset in the past. In addition to sourcing opportunities, the
public market team assists the broader biopharmaceutical investment efforts by
managing the sale and exit of New Leaf’s larger positions in public securities, and by
providing real-time insight into evolving market sentiment to the biotechnology and
broader healthcare technology sectors that helps guide decisions around new
investments and exit decisions.
For a complete list of investments made by the Fund Managers in healthcare technology
companies see Appendices 1 and 4 .
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Leadership: NLV are leaders in biopharmaceutical investing across all stages and transaction
types
The New Leaf team is well positioned to continue to play a leadership role in the sector. Over
the last two decades, the Fund Managers have demonstrated an ability to access high quality
biopharmaceutical investments at all stages, by sourcing opportunities through a range of
activities that result in differentiated and in many cases proprietary deal flow. Deal flow is
generated by relying on New Leaf’s extensive network of relationships that span senior
executives in the pharmaceutical and biotech companies, top scientists at world-class academic
institutions, and leading investors in the venture capital, private equity, and small cap public
sectors. By leveraging this network the Fund Managers gain visibility to interesting investment
ideas, and develop insight into the long term strategic interests of the larger pharmaceutical and
biotech companies and the evolving attitudes about value and risk of public market investors.
Through this continuous process the Fund Managers seek to ensure that they are able to view
the widest range of high quality opportunities and have a highly informed and discerning
screen to determine which of the opportunities have the greatest long term investment
potential. It is these efforts that have allowed the New Leaf team to create some of the best
performing portfolios of biopharmaceutical investments in the industry in the Sprout Funds
and in NLV-I and NLV-II, and has resulted in successful and consistent track records of returns
in the sector. The Fund Managers have demonstrated leadership in the sector over the long
term through transactions that span the full range of stages and transaction types, including:
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Start-Ups: The Fund Managers have played important roles and have been founding
investors in a number of successful start-up companies. These have included Pearl
Therapeutics (NLV-I, exited in sale to Astra Zeneca, 2.5x multiple plus milestones),
Relypsa (NLV-I, private initially, now public on NASDAQ: RLYP),
Convergence/Calchan Pharmaceuticals (NLV-II, one start up that subsequently split to
become 2 separate companies), Durata Therapeutics (NLV-II: IPO – July, 2012,
NASDAQ: DRTX), and Ilypsa (Sprout IX, exited in sale to Amgen, 6.9x multiple).
Established Private Companies: The New Leaf Team has played the role of lead
investor in a large number of private investments. These have included Cerexa (NLV-I,
exited in sale to Forest Labs, 5.4x multiple), Stromedix (NLV-I, exited in sale to Biogen
Idec, 1.8x multiple plus milestones), Chimerix (NLV-II, IPO – April, 2013, NASDAQ:
CMRX), and Auxilium (Sprout IX, NASDAQ: AUXL, exited at 4.6x).
Restructuring Private Companies: The Fund Managers have led financings that have
restructured private companies, providing capital to fund business plans that have
refocused company’s business plans on certain key assets and product development
programs and significantly reducing or terminating investments into others. Examples
of this type of investment include Intarcia Therapeutics (NLV-I) and Synageva
Biopharma (NLV-II, reverse merger to become public – November, 2011, NASDAQ:
GEVA; exited at 7.3x).
Restructuring & Recapitalizing Public Companies: The New Leaf team has created
interesting investment opportunities through restructuring and recapitalizing public
companies. Examples include MEI Pharma (NLV-II, NASDAQ: MEIP) and Sirna
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Therapeutics (Sprout IX, formerly NASDAQ: RNAI, exited through sale to Merck, 8.1x
multiple).
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Structured Investments in Public Companies: The Fund Managers have led and
participated in a number of structured investments into small cap public companies.
These have included Array Pharmaceuticals (NLV-II, NASDAQ: ARRY; led a structured
follow-on investment, NLV team member joined the board, exited at 2.25x), Acadia
Pharmaceuticals (NLV-II, NASDAQ: ACAD, exited at 2.5x) and Intercept
Pharmaceuticals (NLV-II, NASDAQ: ICPT; anchored company’s IPO, NLV team
member initially joined the company’s board, exited at 3.2x).
For a complete list of investments made by the Fund Managers in healthcare technology
companies see Appendix 1.
Favorable conditions for biopharmaceutical investments for NLV-III
The Fund Managers believe that NLV-III will be invested in a market with attractive conditions
for investment in the biopharmaceutical sector. As a result, the Fund should have the
opportunity to invest in compelling biopharmaceutical opportunities that have attractive riskreturn
profiles. A number of factors support this positive view of the investment thesis in the
biopharmaceuticals sector.
First, the Fund will invest in a portfolio of biopharmaceutical companies with an emphasis on
those that are developing targeted therapeutic opportunities that address mechanisms of
disease at the molecular level with high specificity and offer meaningful efficacy and safety
benefits to specific sub-groups of patients. Where possible, the Fund will look to invest in
companies with product programs that are guided by validated biomarkers that can enable
highly specific patient selection and provide an objective measurement of drug effect. The
Fund Managers believe that opportunities with these characteristics offer important benefits to
all market participants in the biopharmaceuticals sector, and that these substantially de-risk the
R&D and commercial sides of the biopharmaceutical business model in ways that can
meaningfully benefit investors.
Patients are offered therapies that are more targeted to their disease, and benefit from
improvements in efficacy and safety through increased life expectancy, improved quality of life,
and a more rapid return to a fully productive life;
Physicians have access to an arsenal of products that they can choose from to tailor therapy to
specific patients’ disease, and avoid the costs and risks associated with using less effective
therapies that carry all the safety risks, but may or may not have any effect on the specific
disease subtype of an individual patient;
Payers may pay higher prices for these therapies, but with the enhanced efficacy and safety
profile that’s possible with biomarker based targeting, they can expect to see better overall
patient outcomes, that ultimately save money within the system;
Pharmaceutical Companies benefit because with targeted approaches to drug discovery and
development, the probabilities of success improve, interactions with regulators become less
risky, timelines to move products from the lab to the market can be significantly shortened, and
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sales and marketing becomes more efficient as commercial campaigns only need to target those
physicians seeing specific subsets of patients;
Regulatory Authorities evaluate the risk-benefit of new therapeutics on specific subgroups of
patients that are known to be suffering from a specific sub-type of diseases, and can thus
require fewer patients and shorter timelines in clinical programs, ultimately lowering the risks
and costs of the approval pathway for developers of new therapeutics; and
Investors can expect to see improving returns as the risk/reward equation of drug
development is shifted significantly as a result of shortened timelines, smaller clinical trials,
improved probabilities of success, and reduced risks at the clinical, regulatory, and commercial
levels.
Second, the biopharmaceuticals sector is an improving regulatory environment in the U.S.,
helping set the stage for a positive investment cycle. There is strong evidence that over the last
decade the FDA has been working to improve the drug approval process in the U.S. in tangible
ways that benefit biopharmaceutical companies and reduce the risk for their investors.
Although the path to regulatory approval for product programs has not been made easy by any
standard, the FDA has made strides in making the process more predictable and streamlined.
Some of the most significant improvements have been in therapeutic areas where there is a high
level of unmet medical need. For example, the U.S. Food and Drug Administration (“FDA”) is
demonstrating clear interest in working more constructively with industry to bring new safe
and effective therapeutics to market that target diseases that have potentially large cost burdens
on the healthcare system (e.g., oncology). Additionally, the FDA has also improved the way
that they communicate and interact with sponsors of new products, by creating set
administrative procedures and timelines that they are required to meet through legislation like
the Prescription Drug User Fee Act (“PDUFA”) and the FDA Modernization Act. The FDA has
implemented other initiatives that attempt to clarify requirements and shorten regulatory
timelines for certain types of therapeutic products that they view as highest priority. These
initiatives include programs to grant special designations, including Breakthrough Therapy,
Accelerated Approval, and Priority Review, which can cut significant time out of the standard
approval process. The impact of these and other programs has become apparent in the number
of new drug approvals (“NDAs”) by FDA in both 2011 (30 NDAs) and 2012 (39 NDAs), which
trended higher compared to the previous six years and versus historic averages. 28 Overall,
these initiatives and others, both in the U.S. and in other markets (e.g., E.U. and Japan), have
made the regulatory environment more favorable for investors in the biopharmaceutical sector,
and have reduced some of the uncertainty in a critical part of drug development.
A third factor supporting the positive investment thesis in biopharmaceuticals is the interplay
of favorable conditions in the capital markets and the strategic needs of the large and mid-sized
companies in the sector. These dynamics should create a positive financing and exit
environment for biopharmaceutical companies for the foreseeable future, and the Fund
Manager expect them to contribute to improving venture returns. The aforementioned
contraction in the number of active firms and capital flows into healthcare technology venture
funds has significantly reduced the level of competition between firms. At the same time, large
and mid-sized biopharmaceutical companies have become increasingly dependent on
28 Food and Drug Administration. Center For Drug Evaluation and Research
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CONTROL NUMBER 257 - CONFIDENTIAL
development stage companies as an important source of innovation and new products to
supplement R&D pipelines and drive future growth. Strong growth potential is critical for
these companies to support their valuation metrics, especially in light of expected patent
expirations on their commercial products. In total, over $290 billion of revenue is at risk from
patent expirations between now and 2018. 29 The large and mid-sized companies are addressing
this strategic need to a large extent through increased acquisitions and partnerships with
development stage companies that have maturing assets. The Fund Managers expect this
dynamic to increase competition between the larger strategic players in the industry as they vie
for the most interesting companies with maturing development stage assets. The development
stage companies should have strong negotiating leverage in these deal discussions, which
should drive premium valuations on acquisitions and attractive terms on partnerships.
The increased strategic need for acquisitions and partnerships comes at a time when the large
and many of the mid-sized companies in the industry are in a strong financial position to
complete high value deals. The top ten pharmaceutical companies have a total of $140 billion in
cash on their balance sheets today and have a combined market capitalization of over $1.3
trillion. 30 A relatively new set of well funded potential acquirers and/or partners has emerged
over the last decade, as many of the mid-sized biotech companies have seen their commercial
businesses thrive, and now have strong revenue and profit growth. Since 2002, the number of
public biotech companies with annual profit (EBIT) over $100 million has doubled to 16, and the
combined annual profit of these companies has increased 4.5 times to $16.6 billion. 31 This has
significantly increased the number of companies in the industry with the financial wherewithal
to complete large cash transactions. At the same time, the industry’s R&D productivity has
been disappointing in terms of new products generated by massive internal R&D budgets. To
address the gaps created in their R&D pipelines, most large and mid-sized players have shifted
a large percentage of their R&D budgets away from internal R&D projects and have increased
investment in “externalizing” a large portion of their R&D. These companies have slashed
internal R&D budgets, closed major R&D facilities, and made large cuts to headcount. It is
estimated that the pharmaceutical industry cut R&D spending by 5.7% in the U.S. and 2.2%
globally in 2012 alone, 32 and this trend has continued in 2013. Most large and mid-sized
biopharmaceutical companies now have large internal groups that include a combination of
business and scientific resources that are dedicated exclusively to external search and
evaluation, and are tasked with finding opportunities for mergers, acquisitions, and
partnerships that will bring in new technology. Some have taken this strategy even further and
have set up their own internal venture capital investment groups with the belief that by coinvesting
with more experienced institutional venture investors they can improve their
visibility into the latest innovations and improved access to the best opportunities. The Fund
Managers believe that this combination of financial strength and strategic need to source more
products than internal R&D efforts can produce will lead to a significant increase in deal
activity, creating a strong exit environment for smaller development stage companies for the
foreseeable future.
29 eValuatePharma
30 Burrill Biotech 2012 Report
31 New Leaf Analysis of public company financial data as provided by Bloomberg
32 Battelle-R&D Magazine Annual Global R&D Funding Forecast
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The Fund Managers expect this combination of positive market conditions to remain favorable
for generating attractive returns in the biopharmaceutical sector for the foreseeable future.
Although industry returns have been characterized by inconsistency and generally associated
with long timelines, a small number of top investors have been able to consistently build
portfolios that outperform the venture capital industry and relevant public market indices.
There is no substitute for experience in this sector, and the New Leaf team brings one of the
most powerful and proven combinations of team, strategy, and track record to investing in this
dynamic sector, and is positioned well for continued success in NLV-III.
INFORMATION CONVERGENCE INVESTMENT STRATEGY
The Fund Managers believe that U.S. is rapidly approaching a fiscal crisis that will be driven
largely by rising healthcare expenditures and the exponential increase in future healthcare
liabilities. This looming threat is a major driver behind Information Convergence (“I.C.”), the
second of the two primary focus areas in NLV-III. Governments and the private sector alike are
being forced to significantly increase the efficiency of the healthcare system, and consequently
are beginning to invest heavily in technologies that reduce cost and improve the quality of care.
New technology solutions are emerging from the intersection of a diverse, yet interconnected
set of technologies that define Information Convergence, including cloud storage, mobile
computing, wireless communications, web-delivered software, big data analytics, diagnostics
and sensors.
I.C. companies are integrating these technologies in ways that more cost effectively prevent,
diagnose, and treat disease. These applications and products can be highly valued by
addressing costly inefficiencies within the healthcare system. The Fund Managers believe I.C.
will play an enabling role in many of the initiatives that will form the core of healthcare reform,
including the transformation of healthcare reimbursement models from volume to value-based,
and that this will be a major area of opportunity for investors for the foreseeable future.
Within I.C. the Fund will seek opportunities that target some of the largest inefficiencies in the
healthcare system. These include: (1) inefficiency in delivery of care and excess administrative
costs; (2) unnecessary services and missed opportunities for prevention; and (3) inflated pricing
and fraud. Coming out of these large, identified problem areas are a number of discrete
investable themes. These are the primary target of New Leaf’s investment strategy in I.C. and
they include the following:
Problem Area: Inefficient Delivery and Excess Administrative Costs
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Investment Theme - Operational & Care Delivery Efficiency: Process improvement and
optimization can only occur when data is available to identify the problems and
measure the impact of solutions. With shrinking margins and shifting value objectives,
healthcare providers are under pressure to understand and improve their businesses
and operations. Technologies that allow the collection and analysis of relevant data on
the efficiency of care-delivery will be foundational to this evolution. AwarePoint (NLV-
II) delivers enterprise awareness solutions for the hospital and other healthcare facilities,
is an example of a company fitting this theme.
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CONTROL NUMBER 257 - CONFIDENTIAL
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Investment Theme - Care Coordination: Today in healthcare, most conditions require the
involvement of multiple healthcare professionals, including primary care physicians,
specialists, nurses, assistants, and therapists, and the care they provide must be
managed closely with participation from the patients themselves and their family
members. Unfortunately, poor coordination and information sharing amongst
caregivers creates significant inefficiencies at the points of hand-off between providers,
leading to repeat tests, missed diagnoses, and expensive mistakes that diminish
outcomes, and in some cases put patients at substantial risk. TigerText (NLV-II) has
developed a secure text messaging platform that can be used on any mobile phone that
allows healthcare professionals to rapidly communicate and exchange clinical data files
to improve and coordinate care.
Investment Theme - Clinical Error Reduction: Administrative, medication and procedural
errors are responsible for billions of dollars of cost annually in the U.S. healthcare
system. Many of these problems can be reduced by bringing relevant information into
the right setting at the appropriate time. For example, ePocrates (Sprout IX, NASDAQ:
EPOC – Acquired by athenahealth for $293 million, 3.1x multiple) allows physicians to
quickly reference drug formulary, dosing and interaction information, thus reducing the
error rate in prescriptions.
Problem Area: Unnecessary Services & Missed Prevention Opportunities
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Investment Theme - Analytics & Data-Driven Personalization: Many conditions are currently
diagnosed on single or limited data points, measured in the hospital or physicians’
office, that may not accurately reflect (or detect) the patients’ condition. Examples
include diseases with episodic or fluctuating symptoms such as cardiac arrhythmias,
Parkinson’s, Alzheimer’s, depression and other behavioral health issues. iRhythm
Technologies (NLV-II) developed and markets an innovative, highly wearable, patch
technology capable of recording continuous electrocardiograms for up to 14 days. This
product has demonstrated a 5x improvement in diagnostic yield for cardiac arrhythmias
relative to 24 - 48 hour Holter monitoring.
The large scale deployment of electronic medical records (“EMRs”), healthcare
information exchanges, and diagnostic and monitoring technologies, is driving
exponential growth in professional health data around patient care and outcomes. At
the same time, patients are discussing and sharing their own health care experiences and
personal health data involving providers, therapeutics, and procedures on the internet.
These vast and rapidly growing professional and consumer oriented healthcare data sets
create an unprecedented repository of longitudinal data on populations of patients. By
mining these data sets using big-data techniques and technologies that are being
deployed successfully in other industries, it is possible to identify important findings
that have huge commercial value that might previously have never have been detected.
Specifically, the Fund Managers believe analytics applied to these data sets will allow
care gaps to be readily identified and addressed, and best practices to be frequently
revised, leading to a consistent iterative cycle of improvement. Treato (NLV-II) has
developed a social health intelligence platform (aka “Social Listening”) that identifies,
analyzes and aggregates medical user generated content spread widely across the web
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in thousands of blogs and other written forums and converts this unstructured content
into structured information to support better-informed decision making by patients,
providers, and pharmaceutical marketing teams.
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Investment Theme - Patient Engagement / Shift to Low-Cost Setting: As incentives move
away from procedural volume and towards cost-effective quality and outcomes,
providers and care delivery organizations are seeking ways to deliver care outside of the
hospital or physicians’ office through technologies that may allow remote monitoring,
and empowers other healthcare professionals, or even patients to play a greater role in
patient care and well-being. Audax Health (NLV-II; exited at 3.4x) touches on this
theme with its Zensey product, which engages patients in their own health through
programs endorsed by their payer.
Problem Area: Inflated Pricing & Fraud
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Investment Theme - Price & Cost Transparency, Financial Error Reduction: Error reduction
can generate significant cost savings at the enterprise level. Truveris (NLV-II) allows
self-insured employers to verify the accuracy of all pharmaceutical benefit claims from
their pharmacy benefit managers in real time, thus resulting in more accurate payments
and significant cost savings.
These are just some of the illustrative themes for I.C. investments in NLV-III. This is an
emerging area with strong growth drivers, and the Fund Managers expect the opportunity set
to evolve and broaden substantially over NLV-III’s investment cycle.
An intriguing aspect of this sector is the possibility for significantly shortened development
timelines and product iteration cycles. Particularly because they are usually outside the
jurisdiction of the FDA and standard reimbursement paths, companies in the I.C. sector can
develop and launch products in months not years, and for single digit millions rather than
several tens of millions of dollars. Product development for these types of applications
leverages “off-the-shelf technologies” in sensors, communications, software and web
design/deployment that were invented and validated in non-healthcare market segments.
These products can be quickly and cheaply tested, iterated and refined in the marketplace with
customers while generating early revenue, which provides a greater degree of flexibility to
evolve the right solution through a series of incremental improvements rather than a single
track, expensive and prolonged development effort.
The Fund’s I.C. investments will be predominantly in private companies in the U.S, at or near
commercialization. Similar to the biopharmaceutical strategy, New Leaf’s objective in its I.C.
investments is to build ownership positions that are large enough to allow the Fund Managers
to exert influence on the company, and to actively manage the investments through board
participation. In certain circumstances, NLV may initially take smaller positions with plans to
significantly increase the Fund’s investment as the companies make progress through key early
technical or commercial hurdles. Utilizing this strategy, the Fund Managers expect to build
larger positions around select investments as they are progressively de-risked, and may not
continue to support investments that do not demonstrate appropriate progress.
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The New Leaf team is one of the most experienced and proven teams in this sector. The Fund
Managers’ combination of proven track record, in-depth knowledge of the medical device and
diagnostics fields, a strong current I.C. portfolio, and a thought-leading network of I.C.
advisors, puts New Leaf in a position of leadership within this sector.
MEDICAL DEVICES INVESTMENT STRATEGY
NLV-III’s investment strategy in medical devices will focus on identifying a limited number of
investment opportunities in companies with compelling later stage risk profiles. The Fund will
seek to identify investments in companies that are developing innovative and differentiated
medical devices, targeting large market opportunities, that offer the potential to meaningfully
reduce overall patient treatment costs in high morbidity disease settings through substantial
efficacy and safety benefits versus existing standards of care. Investments in this sector will
have established regulatory approval pathways and clear regulatory precedents, or are already
at the commercial stage at the time of initial investment. The objective will be to identify
companies that because of their specific therapeutic area or technology focus, or because the
company already has received key regulatory approvals, that they will be less affected by the
headwinds that are challenging the sector more broadly. Importantly, these investments will be
in therapeutic areas that are known to be of high strategic interest to a number of larger medical
device companies, and thus have a high potential of generating M&A interest. The primary
risks in these investments will be mostly operational execution, competition, and other market
related risks.
Similar to the second half of the investment period for NLV-II, the Fund will have a more
limited focus on medical device investments in NLV-III compared to previous funds. The
slower projected pace of investment is based on the view that the operating and exit
environment for companies in this sector will continue to be challenging due to increased
regulatory and reimbursement uncertainty in the U.S. and E.U. These headwinds have resulted
in increased development costs and significantly lengthened timelines for most development
stage companies.
While the Fund Managers expect to see fewer compelling investment opportunities than have
been available historically in the medical device sector, they do believe that they will be able to
identify and source a number of later stage opportunities that are less affected by these
obstacles, and that these will be attractive investment opportunities for NLV-III. One factor that
supports this view is that the reduced level of competition for deals resulting from the decline
in the number of active venture capital firms mentioned previously is even more pronounced in
the medical device sector. Given New Leaf’s historic leadership within this sector, and its clear
commitment to remain active during this period of reduced funding, the Fund Managers expect
that they will have excellent deal flow. Although the number of deals in this sector is likely to
be somewhat lower than in previous funds, with the later stage focus, it is likely that the size of
investments in this sector will be larger. Recent medical device investments in the New Leaf
portfolio that fit this later stage definition include: Neuronetics (NLV-II, commercial stage),
CardioKinetix (NLV-II, clinical development stage), and Interlace Medical (NLV-I, start-up
focused on 510k product, acquired by Hologix, exited at 8.6x).
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BIOLOGICAL RESEARCH TOOLS & INFRASTRUCTURE INVESTMENT STRATEGY
NLV-III’s investment strategy in Biological Research Tools and Infrastructure will focus on
identifying companies that are at or near the commercial stage with novel products targeting
established, high growth markets -- such as DNA sequencing and personalized medicine. The
products of interest will be those based on differentiated technologies that offer higher quality
biological results at significant cost savings to customers than current products. The investment
theses for these companies will be based on rapidly building high-gross margins businesses that
reach break-even on manageable timelines and limited capital budgets. An example of a tools
company in the New Leaf portfolio is Advanced Cellular Diagnostics (NLV-II, commercial
stage).
Research tools and infrastructure technology companies are benefiting from several positive
healthcare industry tailwinds. Technology advancements over the past decade, such as genomic
sequencing and personalized diagnostics, have generated the need for additional reagents and
instruments to efficiently interrogate vast amounts of biological samples and process massive
quantities of resulting data. Unlike biopharmaceutical or medical device product development,
these new reagents are not subject to the risks of costly clinical trials, regulatory approvals and
payer reimbursement. Thus, timelines are more manageable and predictable, and budgets are
much more capital efficient. In fact, in this sector, the Fund Managers expect to identify
opportunities for investment in technologies that have been largely de-risked, are commercialready,
and can be funded to profitability on VC dollars. While substantial commercial adoption
will likely be required for most companies in this sector to be acquired, given the high margins,
rapid sales adoption, and relatively low sales and marketing costs, funding the launch of a new
tool or technology in this sector can represent an attractive risk-reward investment.
This dynamic sector is growing rapidly and small companies have been a prolific source of
innovative new products for the large, established companies that dominate the commercial
distribution channels. The Fund will approach this sector opportunistically and will invest in a
small number of companies with novel and clearly differentiated products targeting sectors of
rapid growth that are at or near the commercial stage.
The Fund Managers expect investments in this sector and the medical device sector to comprise
up to 15% of the Fund.
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VI. DEAL SOURCING & INVESTMENT PROCESS
The Fund Managers have a proactive approach to deal sourcing, which focuses on both private
and public opportunities. The established and proven sourcing activities seek to identify the
most compelling healthcare technology investment opportunities, at the most attractive time
points for venture capital investment. The Fund Managers’ goal is to identify opportunities that
are based on the most interesting novel and proprietary technologies, but place their emphasis
on being positioned for investing in these technologies in the round(s) that offer the most
attractive risk-adjusted returns potential. These investment opportunities are identified
through a number of parallel efforts, including:
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Systematic tracking of private and public companies that have product programs and
technologies targeting disease areas and biological targets of high interest that are
approaching key value inflection points. Current activities include comprehensive
screening of companies with programs targeting high unmet medical needs where the
strength of the science coupled with a rapid and lower capital intensity development
path, provides a compelling risk-reward case for investment. At the present time, the
Fund Managers are tracking a biopharma investment universe of approximately 1,000
mid-late stage private and small-cap public companies, many of which are in
therapeutic areas of specific interest to the Fund Managers (e.g. Oncology, Infectious
Disease, Central Nervous System, etc.);
Continuous contact with a network of current and former portfolio company
management teams;
Networking with current and former senior management team members from leading
pharmaceutical, biotech, medical device, and HIT companies to understand their
strategic priorities and to identify assets/programs that may become available for
spinouts or structured financings;
Staying up to date and in contact with leading academic thought leaders working in
NLV’s fields of interest;
Active coverage of major investor, medical and scientific meetings; and
Working closely with other venture capitalists with overlapping interests to ensure NLV
sees the broadest range of high quality opportunities and are positioned for working
with the strongest syndicates.
A key success factor behind the Fund Managers’ deal sourcing activities is a strong network of
entrepreneurs, industry executives, renowned clinicians, leading academic scientists, other
venture investors, and experienced consultants. The Fund Managers believe that this network
plays a critical role in helping to identify the most interesting opportunities, bringing the
leading resources to bear to assist in due diligence, and in providing important technical and
recruiting support in building portfolio companies. The Fund Managers continuously invest
time and energy in updating and building this strong network to ensure access to the managers
and thought leaders that are the industry’s leaders in the sectors of interest.
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CONTROL NUMBER 257 - CONFIDENTIAL
The New Leaf team applies a rigorous, systematic, fundamentals-driven approach to diligence
on all new deals, which, in addition to assessment against the sector specific strategies, includes
consideration of the following risk/reward factors:
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Medical need and market size
Competing therapies, both drugs and devices
Strength of intellectual property
Ease of physician adoption of new therapy
Specific details of clinical trial design and trial execution risks
Regulatory and reimbursement risks across relevant geographies
Management team’s ability to both execute the business plan and the exit
Time and money required to reach next important milestone(s)
Likely exit; potential acquirers, IPO prospects.
The Fund Managers will continue their proven investment philosophy and investment process,
which emphasizes a team approach to proactive deal sourcing, rigorous investment analysis,
significant involvement with portfolio companies and active management of investments and
exits, and a focus on key “risk inflection” points based on the disease and technology.
Investments will include both development stage and start-up stage companies, as well as
growth equity or expansion capital investment in NLV-III’s targeted sectors, in the private and
public markets.
The Fund Managers have a long history of separating the roles of transaction finder,
negotiating/closing the transaction, and board member, as needed. New Leaf seeks to put the
most appropriate investment professional on the board of companies, based on experience. The
Fund Managers have fostered a culture that discourages any professional from feeling the need
to control all aspects of an investment. Credit is given for each professional’s role, and for each
team member’s ability to be a team player. New Leaf seeks to avoid “lone ranger” behavior and
instead actively implements a team approach.
The Fund Managers intend to create a very selective portfolio of 24 to 28 companies, which will
include a balanced mix of investments in private companies and small capitalization public
companies. The targeted portfolio is expected to be diversified across biopharmaceuticals (50 -
60%), information convergence (up to 25%), and the remainder across investments in later stage
medical device and biological tools and infrastructure companies. While the Fund Managers
believe this distribution of investments is the most likely outcome, it also intends to take full
advantage of pricing discontinuities should they emerge in any of the identified sectors of
interest, possibly resulting in variance from this targeted allocation.
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VII. ONGOING RELATIONSHIP WITH SPROUT FUNDS
Since 2005, the Fund Managers have managed the remaining portfolio of healthcare technology
investments in Sprout Capital VII, L.P., Sprout Capital VIII, L.P., and Sprout Capital IX, L.P.
under a Sub-Management Agreement between Credit Suisse and New Leaf Venture Partners,
L.L.C. (the “Management Company”). In return for these management services, the
Management Company had received a portion of the management fee collected by those Sprout
funds related to the healthcare portfolio.
At the present time, Sprout Capital IX, L.P. is the only fund with any remaining active
healthcare technology investments. There were six active health care technology companies
(three board seats) in the Sprout Capital IX, L.P. portfolio that are managed by the Fund
Managers, which represented $68 million of carrying value as of March 31, 2014. These
remaining investments are in mature companies and the Fund Managers intend to continue to
manage the investments with an emphasis on finding exit opportunities for each company at an
appropriate time. The Fund Managers have already exited a portion of these companies in
early 2014, leaving a very limited tail of Sprout investments and board seats.
The Fund Managers expect the arrangement with Credit Suisse to continue for the foreseeable
future, but the Management Company no longer receives any management fees for these
services. The Sub-Management Agreement between Credit Suisse and the Management
Company will wind down and eventually be terminated as the investments in the Sprout
Capital IX, L.P. portfolio are exited.
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VIII. SUMMARY OF PARTNERSHIP TERMS
The following information is presented as a summary of the Fund’s principal terms only and is qualified
in its entirety by reference to the Fund’s Amended and Restated Limited Partnership Agreement (as
amended, restated or otherwise modified from time to time, the “Partnership Agreement”) and the
subscription agreement relating thereto (together with the Partnership Agreement, the “Agreements”),
copies of which will be provided to each prospective investor prior to the acceptance of any subscription.
Prior to making any investment in the Fund, the forms of such Agreements should be reviewed carefully.
If the terms described in this Memorandum are inconsistent with or contrary to the terms of the
Agreements, the Agreements shall control.
The Fund:
General Partner:
Investment Objective:
Size of Offering:
Minimum Investment:
Closing(s):
New Leaf Ventures III, L.P., a Delaware limited partnership
(the “Fund”).
New Leaf Venture Associates III, L.P., a Delaware limited
partnership (the “General Partner”), is the sole general partner
of the Fund. The general partner of the General Partner is New
Leaf Venture Management III, L.L.C., a Delaware limited
liability company (the “GPLLC”). The initial managing
members (the “Principals”) of the GPLLC are Philippe
Chambon, Jeani Delagardelle, Ronald Hunt, Vijay Lathi and
Liam Ratcliffe.
To generate significant returns, principally through long-term
capital appreciation, by making, holding and disposing of
equity and equity-related investments, principally in healthcare,
medical device and life sciences companies.
The Fund is targeting capital commitments (“Commitments”) of
$375 million with respect to limited partner interests (the
“Limited Partner Interests”). The General Partner may accept a
greater or lesser amount of Commitments from Limited
Partners (as defined below) in its discretion.
The minimum capital commitment of a limited partner to the
Fund (collectively, the “Limited Partners” and together with the
General Partner, the “Partners”) will be $5 million, although
individual capital commitments of lesser amounts may be
accepted at the discretion of the General Partner. The General
Partner may, in its discretion, reject any subscription that is
tendered.
The initial closing will occur as soon as practicable. The General
Partner may hold additional closings thereafter; provided that
the final closing will occur no later than 12 months after the
initial closing (the “Final Closing Date”).
Each Limited Partner admitted at a subsequent closing will be
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CONTROL NUMBER 257 - CONFIDENTIAL
required to contribute the same percentage of its Commitment
as each of the other Limited Partners had been required to
contribute prior to such closing plus an additional amount,
calculated like interest at the prime rate plus 2% per annum,
compounded quarterly, on the amount of such contribution.
General Partner
Commitment
Term:
Drawdowns:
Investment Period:
Diversification &
Investment Limitations:
The General Partner will commit to the Fund at least 1.5% of the
aggregate Commitments of the Partners.
10 years, subject to the General Partner’s right to extend the
term for up to three one-year periods, with the approval of the
Advisory Board (as defined below).
Commitments are expected to be drawn down on an as needed
basis, generally, with not less than 10 business days’ prior
written notice. The initial capital contributions of the Partners
will be due on not less than 7 business days’ prior written
notice.
The Partners will have no obligation to make additional capital
contributions to fund new investments during a Suspension
Period (as defined below) or after the period commencing on
the Fund’s initial closing date and ending on the earliest of (i)
the fifth anniversary of the Final Closing Date and (ii) the date
on which a Suspension Period becomes permanent (the
“Investment Period”); provided, however, that the Partners will
have a continuing obligation to make capital contributions to
fund prospective investments in process, follow-on investments,
and to pay Fund expenses and other Fund obligations
(including, without limitation, the Management Fee (as defined
below) and indemnification obligations).
Without the approval or ratification of the Advisory Board:
(a) the Fund’s total investment in any single Portfolio
Company shall not exceed 10% of the aggregate Subscriptions
of all Partners;
(b) the Fund’s total investment in Portfolio Companies
organized in jurisdictions outside of the United States and
Canada shall not exceed 15% of the aggregate Subscriptions of
all Partners;
(c) the Fund may not as of any time invest more than 10% of
the aggregate Subscriptions of all Partners in open market
purchases of securities that, at the time of investment, are
traded on a Public Securities Market and are being purchased as
a stand-alone passive investment; provided, however, that for
the avoidance of doubt, the foregoing restriction shall not apply
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CONTROL NUMBER 257 - CONFIDENTIAL
to Temporary Investments, “PIPES” and other purchases of
securities in private placements that are not traded on a Public
Securities Market at the time of such investment, “toe-hold”
investments (e.g. investments that are intended to lead to a
potential private or larger investment), Portfolio Investments
where the Partnership has the right to designate a director, and
follow-on investments in or related to the foregoing;
(d) the Fund shall not invest in the securities of any other
pooled investment vehicle with respect to which any Person is
entitled to a share of profits (whether in the form of fees,
distributions or otherwise) disproportionate to its share of the
contributed capital of the vehicle unless the General Partner
arranges for a reduction in the Management Fee in the amount
of the “management fee” and “carried interest” attributable to
the Fund’s interest in such vehicle; provided, however, that the
Fund shall not, without the approval or ratification of the
Advisory Board, invest more than 5% of the aggregate
Subscriptions of all Partners in the securities of any such pooled
investment vehicle; and provided, further, however, that
nothing herein shall prevent the Fund from (1) investing the
Fund’s cash in a regulated investment company or similar entity
or fund sponsored by a bank subject to the Bank Holding
Company Act as a Temporary Investment or (2) investing in
operating businesses through an alternative investment vehicle;
or
(f) The Fund shall not invest in any uncovered options,
futures contracts or other derivative securities, or sell securities
short in an uncovered transaction.
Advisory Board:
The Fund will have a limited partner advisory board (the
“Advisory Board”) consisting of at least three persons chosen by
the General Partner from persons associated with the Limited
Partners; provided that neither the General Partner nor any of
its affiliates may be a member of the Advisory Board. The
duties of the Advisory Board (or its committees) shall be to: (a)
be available to offer advice to the General Partner regarding the
activities of the Fund; (b) review and advise the General Partner
regarding transactions involving potential conflicts of interest
submitted to them by the General Partner; (c) approve the
valuation methodology formulated by the General Partner for
determining the value of the Fund’s assets and review periodic
valuations submitted to it by the General Partner; and (d)
undertake such other duties as are required by this Agreement
or reasonably requested by the General Partner.
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Limited Reinvestment:
Distributions:
Allocations:
General Partner Clawback:
Without the consent of the Advisory Board, the General Partner
shall not permit the aggregate purchase price of long-term
investments to exceed 110% of aggregate Commitments.
All distributions prior to the dissolution of the Fund will be
made at such times and in such amounts as the General Partner
shall determine. All such distributions will be apportioned
among the Partners as follows:
(i) First, 100% to all Partners in proportion to their capital
contributions until each Partner has received distributions in an
amount equal to such Partner’s capital contributions; and
(ii) Thereafter, 20% to the General Partner and 80% to all
Partners in proportion to their respective capital contributions.
With respect to any fiscal year, the Fund may make cash
distributions to the Partners in amounts intended to defray the
Partners’ tax liability resulting from their interests in the Fund
during such fiscal year.
Liquidating distributions will be made in accordance with
positive capital account balances.
The Fund will maintain capital accounts on behalf of each
Partner in accordance with U.S. Federal income tax
requirements. In general, any cumulative net loss will be
allocated to the capital accounts of the Partners in proportion
their contributions, and any cumulative net gain will be
allocated 20% to the capital account of the General Partner and
80% to the capital accounts of all Partners in proportion to their
contributions. Notwithstanding the foregoing, items of expense
will be allocated to the Partners in proportion to their
contributions and will be offset by subsequent allocations of net
profit (to the extent thereof), provided that the General Partner
will not be allocated any items of expense attributable to the
Management Fee.
If, after the Fund has made its final liquidating distribution, the
General Partner has received aggregate distributions with
respect to its “carried interest” in excess of the cumulative net
profit allocated to the General Partner with respect to its
“carried interest,” the General Partner will return to the Fund
the amount of that excess; provided, however, that in no event
shall the General Partner be required to return to the Fund an
amount in excess of the aggregate distributions made to the
General Partner that are attributable to its “carried interest” less
tax distributions. All carry recipients shall be severally, but not
jointly, liable for their respective proportional shares of the
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CONTROL NUMBER 257 - CONFIDENTIAL
General Partner’s return obligation set forth in the preceding
sentence; provided, however, that in no event shall any carry
recipient be required to return to the Fund an amount in excess
of the aggregate distributions made to it that are attributable to
the General Partner’s “carried interest” less tax distributions
with respect thereto.
Management Fee:
Commitment, Break-Up and
Monitoring Fees:
The Fund will enter into a management agreement with New
Leaf Venture Partners, L.L.C., a Delaware limited liability
company, or an affiliate thereof (the “Management Company”)
to provide management and administrative services to the
Fund.
The Fund will pay the Management Company an annual
management fee (the “Management Fee”) equal to 2.5% per
annum of Commitments, payable in advance on a quarterly
basis. For each successive twelve-month period beginning on
the first day of the fiscal quarter following the date which is the
fourth anniversary of the Final Closing Date, the percentage
used in calculating the annual Management Fee shall be
determined by multiplying the percentage used to determine
the Management Fee for the prior twelve-month period by 88%;
provided, however, in no event shall such percentage be
reduced below 1.35%per annum.
100% of all directors’ fees, consulting fees, commitment fees,
monitoring fees, investment banking, transaction or break-up
fees or other remuneration (excluding directors’ fees and
options for service on the board of a publicly-traded portfolio
company) paid by the Fund’s portfolio companies to the
General Partner, the Management Company or the Managers
(“Portfolio Company Remuneration”), net of expenses, will be
treated as an offset to the Management Fee; provided, however,
that the Management Fee shall not be reduced below zero. Any
reimbursement of the General Partner, the Management
Company or the Managers for out-of-pocket expenses incurred
on behalf of a portfolio company will not offset the
Management Fee.
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Organizational Expenses:
Operating Expenses:
The Fund will bear expenses relating to the organization of the
Fund and its affiliates and the offering of the Limited Partner
Interests, including legal, accounting, travel, meeting, printing
and other administrative expenses, up to an aggregate of
$1,250,000. The Management Fee will be reduced by
organizational expenses paid by the Fund in excess of this
amount and by any placement fees paid by the Fund.
The Management Company will assume and pay all normal
operating expenses attributable to the Fund’s investment
activities, including all routine, recurring expenses incident to
the investment activities of the Fund; compensation and
expenses of the employees of the Management Company and
fees and expenses for administrative, clerical and related
support services, maintenance of books and records for the
Fund, office space and facilities, utilities, telephone and travel
insofar as they relate to the investment activities of the Fund.
In addition to the Management Fee, the Fund will be
responsible for all other costs and expenses of the Fund that are
not reimbursed by third parties, including without limitation,
organizational expenses and placement fees (each as described
above); liquidation expenses of the Fund; any sales or other
taxes, fees or government charges which may be assessed
against the Fund; commissions or brokerage fees or similar
charges incurred in connection with the purchase or sale of
securities (including any merger fees payable to third parties
and whether or not any such purchase or sale is consummated);
fees and compensation (if any) and expenses of members of the
Advisory Board (including travel-related costs and expenses);
the fees and compensation (if any) and expenses of any
technical or scientific advisory board with which the Fund
consults; the costs and expenses (including travel-related
expenses) of hosting annual or special meetings for the Partners
of the Fund, or otherwise holding meetings or conferences with
Partners of the Fund, whether individually or in a group; fees
and expenses for consulting services; interest expense for
borrowed money (if any); all expenses relating to litigation and
threatened litigation involving the Fund, including
indemnification expenses; expenses attributable to normal and
extraordinary investment banking, commercial banking,
accounting, appraisal, legal, custodial and registration services
provided to the Fund, including in each case services with
respect to the proposed purchase or sale of securities by the
Fund that are not reimbursed by the issuer of such securities
(whether or not any such purchase or sale is consummated and
including expenses incurred by the tax matters partner);
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CONTROL NUMBER 257 - CONFIDENTIAL
premiums for liability insurance to protect the Fund, the
General Partner, the partners of the General Partner, the
members of the GPLLC, the members of the Advisory Board,
and any of their respective partners, members, stockholders,
officers, directors, trustees, employees, agents or affiliates in
connection with the activities of the Fund and premiums to pay
“key-man” insurance; and all other expenses properly
chargeable to the activities of the Fund.
Distributions may be recalled for up to one year following the
date of liquidation of the Fund to satisfy (1) any obligations,
liabilities and other expenses that arise from the Fund’s
Portfolio Investments and (2) the Fund’s indemnification
obligations; provided that no Partner shall be required to return
an aggregate amount greater than the lesser of (A) the aggregate
amount of distributions made to such Partner (and such
Partner’s predecessors in interest) and (B) 25% of such Partner’s
Commitment
Key Person Event:
No Fault Termination of the
Investment Period:
No Fault Termination of the
Fund:
Removal of the General
Partner for Cause:
The General Partner shall promptly notify the Advisory Board
in writing if, prior to the end of the Investment Period, fewer
than three Principals satisfy their obligation to devote
substantially all of their business time to the affairs of the
Management Company and its affiliates (including by reason of
death or disability) for a period exceeding 60 days. Following
any such occurrence, the Fund shall not make any new portfolio
investments other than permitted investments (a “Suspension
Period), unless such Suspension Period is lifted as provided in
the Partnership Agreement.
Eighty-five percent in interest of the Limited Partners may cause
a termination of the Investment Period at any time after the
second anniversary of the Initial Closing Date, with such
termination to be effective as of the date they deliver written
notice of such termination to the General Partner, after which
the Fund shall not make any new portfolio investments other
than permitted investments as set forth in the Partnership
Agreement.
Eighty per cent in interest of the Limited Partners (excluding
affiliates of the General Partner) may vote to dissolve the Fund
at any time after the second anniversary of the initial closing
date upon 120 days’ notice.
66 2/3% in interest of the Limited Partners may remove the
General Partner upon the occurrence of certain cause events
specified in the Partnership Agreement.
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Transferability of Interests
and Withdrawal:
Borrowings
and Guarantees:
Default:
Reports:
Parallel Funds:
Alternative Investment
Vehicles:
A Limited Partner may not sell, assign, or transfer any interest
in the Fund or withdraw from the Fund except under certain
limited circumstances and with the prior written consent of the
General Partner.
The Fund may borrow money on a short-term basis pending
drawdowns of capital contributions in an aggregate amount
outstanding at any time not exceeding 15% of aggregate
Commitments, or such greater amount as is otherwise approved
by the Advisory Board; provided that the maturity of any such
borrowing shall not exceed 90 days. The Fund may guarantee
the indebtedness of any portfolio company; provided, however,
that, without the approval of the Advisory Board, the total
amount of outstanding Fund guarantees shall not exceed 15% of
aggregate Commitments.
If any Limited Partner defaults in the payment of any part of its
Commitment when due, it will be subject to significant penalties
as specified in the Partnership Agreement, including forfeiture
of all or a portion of such Limited Partner’s interest in the Fund.
The Partners will receive (i) audited annual financial statements,
(ii) unaudited quarterly financial statements for the first three
quarters of each fiscal year, (iii) annual tax information
necessary for completion of their income tax returns and (iv)
periodically certain descriptive information related to portfolio
investments. Reports and information, and the General
Partner’s obligation to provide such reports and information,
will be subject to confidentiality restrictions and limitations as
set forth in the Partnership Agreement. Each Limited Partner
will be required to maintain information provided to it about
the Fund, its business and portfolio investments in the strictest
confidence and to not disclose such information except in
certain limited circumstances.
In order to facilitate investments by certain investors, the
General Partner may create parallel or other investment vehicles
or investment advisory programs, the structure of which may
differ from that of the Fund but which will generally invest
proportionately in all portfolio investments on substantially the
same terms and conditions as the Fund, subject to applicable
investment restrictions.
If the General Partner determines that for legal, tax or
regulatory reasons that an investment should be made through
an alternative investment vehicle, the General Partner may
structure the making of all or a portion of such investment
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CONTROL NUMBER 257 - CONFIDENTIAL
outside the Fund, by requiring some or all of the Limited
Partners to make such investment through a limited liability
entity that will invest on a parallel basis with, or in lieu of, the
Fund, as the case may be.
Successor Fund:
Exculpation and
Indemnification:
Without the prior written consent of the Advisory Board, none
of the General Partner, the GPLLC or any Principal may hold an
initial closing for a limited partnership or other investment
vehicle with an investment strategy substantially similar to the
Fund (a “Successor Fund”) prior to the earlier of (i) the end of
the Investment Period and (ii) the date on which at least 70% of
aggregate Commitments of all Partners have been invested,
expended, committed, or reserved for future investments in
existing portfolio companies or for reasonably anticipated Fund
expenses.
None of General Partner, the partners of the General Partner,
the members of the GPLLC, the Principals, the Management
Company, or any partner, member, stockholder, officer,
director, manager, trustee, employee, agent or affiliate of any of
the foregoing shall be liable to the Fund or any Partner for any
loss suffered by the Fund or any Partner which arises out of any
investment or any other action or omission of such person if (a)
such person acted in good faith and reasonably believed that
such course of conduct was in, or not opposed to, the best
interest of the Fund and (b) such conduct did not constitute a
breach of such person’s fiduciary duty (if any) to the Fund,
gross negligence, intentional misconduct, intentional and
material breach by such person of its obligations under the
Partnership Agreement (provided that such breach is not cured
within 60 days of notice from a majority in interest of the
Limited Partners of such breach), a willful violation of law or
the commission of a felony.
No member of the Advisory Board or any other board or
committee formed to assist or advise the General Partner and no
Limited Partner who may have designated such member shall
be liable to the Fund or any Partner for any loss suffered by the
Fund or any Partner which arises out of any action or omission
of such member, provided that such member acted in good faith
and reasonably believed that such course of conduct was in, or
was not opposed to, the best interest of the Fund and, with
respect to any criminal action or proceeding, had no reasonable
cause to believe that his or her conduct was unlawful.
The General Partner, the partners of the General Partner, the
members of the GPLLC, the Principals, the Management
Company, each liquidator, each member of the Advisory Board
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CONTROL NUMBER 257 - CONFIDENTIAL
or any other board or committee formed to assist or advise the
General Partner, each Limited Partner that designated a
member of the Advisory Board, and each partner, member,
stockholder, director, officer, manager, trustee, employee, agent
and affiliate of any of the foregoing shall be indemnified by the
Fund against any claim, demand, controversy, dispute, cost,
loss, damage, expense (including attorneys’ fees), judgment
and/or liability incurred by or imposed upon the indemnitee in
connection with any action, suit or proceeding to which the
indemnitee may be made a party or otherwise involved or with
which the indemnitee shall be threatened, in connection with
their activities on behalf of, or their association with, the Fund;
provided, however, that such an indemnitee, other than an
indemnitee acting in his capacity as a member of the Advisory
Board or any other board or committee formed to assist or
advise the General Partner and a Limited Partner who has
designated such member, shall not be indemnified with respect
to matters as to which the indemnitee shall have been finally
adjudicated in any such action, suit or proceeding (a) not to
have acted in good faith and in the reasonable belief that the
indemnitee’s action was in, or not opposed to, the best interests
of the Fund or (b) to have committed a breach of such person’s
fiduciary duty (if any) to the Fund, gross negligence, intentional
misconduct, intentional and material breach by such person of
its obligations under the Partnership Agreement (provided that
such breach is not cured within 60 days of notice from a
majority in interest of the Limited Partners of such breach), a
willful violation of law or the commission of a felony. An
indemnitee either acting in his capacity as a member of the
Advisory Board or any other board or committee formed to
assist or advise the General Partner or that is a Limited Partner
who has designated such member shall not be indemnified with
respect to matters as to which the indemnitee shall have been
finally adjudicated in any such action, suit or proceeding (1) not
to have acted in good faith and in the reasonable belief that the
indemnitee’s action was in, or not opposed to, the best interests
of the Fund or (2), with respect to any criminal action or
proceeding, such person had reasonable cause to believe that his
or her conduct was unlawful.
Notwithstanding the foregoing, in no event will the Fund
provide indemnification to any indemnitee for any action or
omission taken by such indemnitee in such person’s capacity as
a director of any portfolio company in which the Fund no
longer holds an investment, to the extent such liabilities solely
relate to activities of such person during the period
commencing 18 months after the date on which the Fund has
sold or otherwise disposed of its entire interest in such portfolio
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CONTROL NUMBER 257 - CONFIDENTIAL
company.
Certain ERISA
Considerations:
U.S. Tax-Exempt Investors:
Non-U.S. Investors:
Under the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”), fiduciaries of prospective investors that
are retirement plans subject to ERISA (“ERISA Plans”) must
determine that an investment in the Fund is prudent, that such
investment satisfies the requirement that plan assets be
diversified and that such investment complies with the other
requirements applicable to ERISA Plans. The General Partner
intends to conduct the operations of the Fund so that it will be
an appropriate investment for ERISA Plans. In particular, the
General Partner will use reasonable best efforts to conduct the
affairs and operations of the Fund in such a manner so that the
assets of the Fund will not be treated as “plan assets” of any
ERISA Plan for purposes of ERISA. Prospective investors that
are ERISA Plans are advised to consult their own advisors as to
the effect of ERISA (or other applicable law) on an investment in
the Fund. The fiduciary of each prospective ERISA Plan
investor must independently determine that the Fund is an
appropriate investment for such ERISA Plan, taking into
account the fiduciary’s obligations under ERISA and the facts
and circumstances of each investing ERISA Plan. (See Section X,
“Certain Tax and ERISA Considerations.”)
Prospective investors are advised to consult their own tax
advisors as to the tax consequences of an investment in the
Fund. Subject to certain exceptions, the General Partner will use
reasonable best efforts to conduct the affairs of the Fund in a
manner that is not expected to cause any tax- exempt partner to
realize any “unrelated business taxable income” within the
meaning of Sections 512 through 514 of the Code. (See Section
X, “Certain Tax and ERISA Considerations.”) The General
Partner’s undertaking will be deemed satisfied with respect to
the making, holding or disposing of any portfolio investment if
the tax exempt U.S. Partners are given the opportunity to (or if
all Limited Partners are otherwise required to) hold their
proportionate shares of such portfolio investment directly or
indirectly through an alternative investment vehicle treated as a
corporation for U.S. federal income tax purposes.
Prospective investors are advised to consult their own tax
advisors as to the tax consequences of an investment in the
Fund. Subject to certain exceptions, the General Partner will use
commercially reasonable efforts to conduct the affairs of the
Fund in a manner that is not expected to cause the Fund to be
treated for United States federal income tax purposes as
engaged in a “trade or business within the United States,”
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within the meaning of Section 864(b) of the Code. (See Section
X, “Certain Tax and ERISA Considerations.”) The General
Partner’s undertaking will be deemed satisfied with respect to
the making, holding or disposing of any portfolio investment if
the Non U.S. Partners are given the opportunity to (or if all
Limited Partners are otherwise required to) hold their
proportionate shares of such portfolio investment directly or
indirectly through an alternative investment vehicle treated as a
corporation for U.S. federal income tax purposes.
Risk Factors:
Legal Counsel:
An investment in the Fund involves a high degree of risk.
Prospective investors should carefully review the matters
discussed under Section IX, “Certain Investment
Considerations.”
Proskauer Rose LLP
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IX. CERTAIN INVESTMENT CONSIDERATIONS
An investment in the Fund entails a significant degree of risk and, therefore, should be undertaken only
by investors capable of evaluating the risks of the Fund and bearing the risks it represents. There can be
no assurance that the Fund’s investment objectives will be achieved or that an investor will receive a
return of its capital, and therefore, an investor should only invest in the Fund if such investor is able to
withstand a total loss of its investment. In addition, there will be occasions when the General Partner
and its affiliates may encounter potential conflicts of interest in connection with the Fund. Prospective
investors in the Fund should carefully consider the following factors in connection with an investment in
the Fund. The following is not a complete list of all risks involved in connection with an investment in
the Fund. In addition to the items discussed below, prospective investors should also consider the
information described in Section XI, “Certain Tax & ERISA Considerations” and elsewhere in this
Memorandum. Prospective investors are cautioned not to rely on the prior returns set forth in this
Memorandum in making a decision whether or not to purchase the Limited Partner Interests offered
hereby. The return information contained in this Memorandum has not been audited or verified by any
independent party and should not be considered representative of the returns that may be received by an
investor in the Fund. Past performance is not a guarantee of future results.
Risk of Venture Capital Investments
While venture capital investments offer the opportunity for significant gains, such investments
also involve a high degree of business and financial risk and can result in substantial losses.
Among these risks are the general risks associated with investing in companies at an early state
of development or with little or no operating history, companies operating at a loss or with
substantial variations in operating results from period to period, and companies with the need
for substantial additional capital to support expansion or to achieve or maintain a competitive
position. Such companies may face intense competition, including from companies with greater
financial resources, more extensive development, manufacturing, marketing and service
capabilities and a larger number of qualified managerial and technical personnel. Due to the
limited number of investments that the Fund may make, poor performance by some of the
Fund’s investments could significantly affect the total returns to Limited Partners.
Focused Investment Strategy
The Fund will be focused on life sciences and healthcare technology investments and may not
enjoy the reduced risks of a broadly diversified portfolio. A specific investment focus is
inherently more risky and could cause the Fund’s investments to be more susceptible to
particular economic, political, regulatory, technological or industry conditions or occurrences
compared with a fund, or a portfolio of funds, that is more diversified or has a broader industry
focus.
Risks Associated with Investments in Life Sciences and Healthcare Technology Companies
The success of the Fund’s portfolio companies may be dependent upon obtaining certain
governmental approvals. Companies in the life sciences and healthcare technology industry
typically require the approval of agencies such as the FDA prior to marketing their products to
the public. Of particular significance are the FDA requirements covering research and
development, testing, manufacturing, quality control, labeling and promotion of drugs for
human use. The approval process is very lengthy and very costly, and there can be no
guarantee that a portfolio company will obtain the necessary approvals for its products. If a
portfolio company is unable to obtain these approvals in a timely fashion, the portfolio
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company may experience significant adverse effects, which in turn could negatively affect the
performance of the Fund. Moreover, the current regulatory framework may change or
additional regulations may arise at any stage during the product development phase of a
portfolio company, which may affect the company’s ability to obtain approval of its products.
The Fund may invest in companies that will need to obtain patents for their products, both in
the U.S. and in other countries. The patent protection of the intellectual property of healthcare
technology companies in many countries is highly uncertain and involves complex legal,
scientific and factual issues. The policy regarding allowable claimed subject matter of life
sciences or healthcare technology patents varies from jurisdiction to jurisdiction.
Dependence on Single Products
Companies in which the Fund invests may only have one product under development. There
can be no assurance that the product will be approved for marketing by the FDA or any foreign
regulatory agency. Further, competition to the product may develop from other new and
existing products. In either case, if a company is dependent on that one product, the
consequences of such failure could be devastating to the prospects of such company, which in
turn could negatively affect the performance of the Fund.
Dependence on Reimbursement and Third-Party Pricing Policies for Products
The ability of the Fund’s portfolio companies to commercialize any product candidate
successfully also will depend in part on the extent to which reimbursement for these products
and related treatments will be available from government health administration authorities,
private health insurers and other organizations. Government authorities and third-party
payors, such as private health insurers and health maintenance organizations, decide which
medications they will pay for and establish reimbursement levels. A major trend in the U.S.
healthcare industry and elsewhere is cost containment. Government authorities and third-party
payors, particularly Medicare, have attempted to control costs by limiting coverage and the
amount of reimbursement for particular medications. Increasingly, third-party payors are
requiring that drug companies provide them with predetermined discounts from list prices and
are challenging the prices charged for medical products. Portfolio companies cannot be sure
that coverage and reimbursement will be available for any product that they commercialize,
and, even if these are available, the level of reimbursement may not be satisfactory.
Reimbursement may affect the demand for, or the price of, any product candidate for which a
portfolio company obtains marketing approval. Obtaining and maintaining adequate
reimbursement for a portfolio company’s products may be particularly difficult because of the
higher prices often associated with drugs administered under the supervision of a physician or
because a drug may be administered in combination with other drugs that may carry high
prices. A portfolio company may be required to conduct expensive pharmacoeconomic studies
to justify coverage and reimbursement or the level of reimbursement relative to other therapies.
If coverage and adequate reimbursement are not available or reimbursement is available only to
limited levels, a portfolio company may not be able to successfully commercialize any product
candidate for which it obtains marketing approval. This, in turn, could negatively affect the
performance of the Fund.
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There may be significant delays in obtaining reimbursement for newly approved drugs, and
coverage may be more limited than the purposes for which the drug is approved by the FDA or
similar regulatory authorities outside the United States. Moreover, eligibility for reimbursement
does not imply that any drug will be paid for in all cases or at a rate that covers a portfolio
company’s costs, including research, development, manufacture, sale and distribution. Interim
reimbursement levels for new drugs, if applicable, may also not be sufficient to cover a portfolio
company’s costs and may not be made permanent. Reimbursement rates may vary according to
the use of the drug and the clinical setting in which it is used, may be based on reimbursement
levels already set for lower cost drugs, and may be incorporated into existing payments for
other services. Net prices for drugs may be reduced by mandatory discounts or rebates required
by government healthcare programs or private payors and by any future relaxation of laws that
presently restrict imports of drugs from countries where they may be sold at lower prices than
in the United States. Third-party payors often rely upon Medicare coverage policy and payment
limitations in setting their own reimbursement policies. A portfolio company’s inability to
promptly obtain coverage and profitable payment rates from both government-funded and
private payors for any approved products that a portfolio company may develop could have a
material adverse effect on its operating results, its ability to raise capital needed to
commercialize products and its overall financial condition. This, in turn, could negatively affect
the performance of the Fund.
Political Risk; Current and Future Healthcare Reforms
Political events can have an impact on pharmaceutical and biotechnology companies. There can
be no guarantee that government’s role in the healthcare industry will not adversely impact the
performance of the Fund.
In both the U.S. and foreign markets, sales of healthcare products and services and their success
will depend in part on the availability of reimbursement from third-party payors such as
government health administration authorities, private health insurers, and other organizations.
The levels of revenues and profitability of providers of healthcare products and services may be
affected by the continuing efforts of governmental and third-party payors to contain or reduce
the costs of health care. Significant uncertainty exists as to the reimbursement status of newly
approved health care products. There can be no assurance that a company’s proposed products
or services will be considered cost-effective or that adequate third-party reimbursement will be
available to enable a company to maintain price levels sufficient to realize an appropriate return
on its investment.
Moreover, there continues to be significant interest among policy makers and government and
private payors in the United States and foreign jurisdictions in promoting changes in healthcare
systems to contain healthcare costs and improve the overall quality of care and wellness.
For example, on March 23, 2010, President Obama signed into law the Patient Protection and
Affordable Care Act, which Congress modified pursuant to the Health Care and Education
Reconciliation Act of 2010 (collectively, the “Act”). The Act expands insurance coverage to
more individuals, which could have a negative impact on the pharmaceutical industry. Among
the aspects of the Act that may have an adverse impact on the Fund are (i) mandatory annual
fees on pharmaceutical manufacturers, (ii) discounts of 50% on brand name prescription drugs
for certain Medicare Part D beneficiaries (i.e., those who are required to pay 100% of their
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prescription drug costs during the temporary “gap” from Medicare coverage until their
prescription drug costs reach the threshold for catastrophic coverage by Medicare), (iii) an
approval process for generic biologics and granting exclusive marketing rights to original
manufacturers for 12 years, (iv) increased drug rebates to the Medicaid program, and (v)
disclosure requirements for financial relationships between various healthcare entities.
Within the U.S., the pharmaceutical industry has been a particular focus of both state and
federal governments’ reform efforts. Other than reform measures adopted in the Act, proposed
reforms include, but are not limited to, the following:
• increasing regulation of pharmaceutical sales representatives;
• restricting direct to consumer advertising and off-label uses;
• limiting manufacturers’ access to marketing data;
• authorizing the importation of drugs from Canada and other foreign countries to lower
pharmaceutical costs to U.S. consumers;
• price discounts, formularies or rebates to government healthcare programs; and
• allowing government healthcare programs to negotiate prescription drug prices directly
with manufacturers.
While the Fund cannot predict which legislative or regulatory proposals will be adopted or
what affect the adopted proposals, including the Act, may have on the biopharmaceutical
companies in which the Fund invests, the pendency, approval or implementation of such
proposals could decrease the Fund’s anticipated returns or adversely affect its investment
opportunities.
Availability of Investment Capital
Many portfolio companies will require several rounds of capital infusions before reaching
maturity. The Fund and its co-investors may not provide all necessary follow-on capital to
portfolio companies. Accordingly, third-party sources of financing may be required. There is
no assurance that such additional sources of financing will be available, or, if available, will be
on terms beneficial to the Fund. Furthermore, the Fund’s capital is limited and may not be
adequate to protect the Fund from dilution resulting from multiple rounds of portfolio
company financings. If the Fund does not have capital available to participate in subsequent
rounds of financing, failure to participate may have a significant negative impact on the
portfolio company as well as the value of the Fund’s investment.
Economic and Market Risk
Companies in which the Fund invests may be sensitive to general downward swings in the
overall economy or in the healthcare technology sector. Changes in economic conditions,
including, for example, inflation rates, industry conditions, competition, technological
developments, political and diplomatic events and trends, tax laws and innumerable other
factors, none of which will be within the control of the General Partner, can affect substantially
and adversely the business and prospects of the Fund. A major recession or adverse
developments in the securities market might have an impact on some or all of the Fund’s
investments. In addition, factors specific to a portfolio company may have an adverse effect on
the Fund’s investment in such company. The General Partner may rely upon its own or a
portfolio company’s projections concerning the portfolio company’s future performance in
making investment decisions. Such projections are inherently subject to uncertainty and to
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certain factors beyond the control of the portfolio company and the General Partner. The
economic environment for all companies, and in particular for healthcare technology and startup
companies, may remain challenging. Business risks may be more significant in portfolio
companies embarking on a build-up or operating turnaround strategy and in smaller or
development stage portfolio companies. All portfolio companies may face intense competition,
changing business and economic conditions, risks of technological acceptance and obsolescence
or other developments that may adversely affect their performance.
Illiquidity of Portfolio Investments
Investments by the Fund generally will be illiquid securities acquired through privately
negotiated transactions. The Fund may be unable to realize its investment objectives by sale or
other disposition at attractive prices or will otherwise be unable to complete an exit strategy.
External factors beyond the General Partner’s control, such as overall economic conditions, the
competitive environment and the availability of potential acquirors of the Fund’s interests in
portfolio companies may shorten or lengthen the Fund’s holding period in such portfolio
companies. In some cases, the Fund may be prohibited by contract from selling such securities
for a period of time or otherwise may be restricted from the disposition of such securities.
Lack of Operating History
The Fund and the General Partner are newly formed entities, and, accordingly have no
operating history or investments upon which investors can evaluate the potential performance
of the Fund. The prior performance of the Fund Managers or their investments as described in
this Memorandum is not necessarily indicative of the Fund’s future results. There can be no
assurance that investments by the Fund will achieve returns comparable to the historical
performance reflected in this Memorandum, and in any event, the returns achieved by the Fund
will be subject to the Management Fee and the General Partner’s carried interest. Any given
investment made by the Fund may prove to be worthless, and there is a risk that investors
could lose money.
No Assurance of Profit or Distributions
The Fund’s task of identifying opportunities in private and public operating companies,
managing such investments and realizing a significant return for investors is difficult. Many
organizations operated by persons of competence and integrity have been unable to make,
manage and realize such investments successfully. There is no assurance that the investments
of the Fund will be profitable or that any distribution will be made to the Limited Partners.
Any return on investment to the Limited Partners will depend upon successful investments
being made by the Fund. The marketability and value of any such investment will depend
upon many factors beyond the control of the Fund. The Fund may not have sufficient cash
available to make tax distributions to the Partners. The expenses of the Fund may exceed its
income, and the Limited Partners could lose the entire amount of their contributed capital.
Accordingly, prospective investors should not subscribe to the Fund unless they can readily
bear the consequences of such a loss.
Competition
The business of identifying, structuring and implementing venture capital investments, along
with other investments within the strategy of NLV-III is highly competitive. The Fund will be
competing for investments against other groups, including institutional investors, investment
managers and industrial groups owned by large and well-capitalized investors. It is possible
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that competition for appropriate investment opportunities may limit significantly the number of
opportunities available to the Fund and adversely affect the terms upon which investments can
be made. There can be no assurance that the Fund will be successful in its efforts to identify
attractive investment opportunities, and it is possible that the Fund’s Commitments will not be
fully utilized if sufficient attractive investments are not identified and consummated by the
Fund during the Investment Period.
Management of the Fund
The General Partner will make decisions with respect to the management of the Fund. Limited
Partners have no right or power to take part in the management of the Fund. The Limited
Partners will not receive the detailed financial information issued by portfolio companies that
will be available to the Fund. Accordingly, the Limited Partners will not have the opportunity
to evaluate the relevant economic, financial and other information that will be utilized by the
General Partner in its selection of investments. An investor in the Fund must rely upon the
ability of the General Partner with the assistance of the Management Company to identify,
structure, and implement investments consistent with the Fund’s investment objectives and
policies. Accordingly, no person should purchase Limited Partner Interests unless such person
is willing to entrust all aspects of the management of the Fund to the General Partner.
Reliance on Management of Fund
The success of the Fund will be largely dependent upon the activities of the Fund Managers.
The loss of one or more of these individuals could have a significant adverse impact on the
business of the Fund and its financial performance.
Reliance Upon Portfolio Company Management
Although the Fund may seek representation on the board of directors of each of the portfolio
companies or otherwise provide management and strategic planning assistance, the Fund will
not have an active role in the day-to-day management of the companies in which it invests. To
the extent that the senior management of a portfolio company performs poorly, or if a key
manager of a portfolio company terminates employment, the Fund’s investment in such
company could be adversely affected.
Potential Conflicts of Interest
The Fund Managers will continue to devote a portion of their time to the business of the Sprout
Funds, NLV-I, NLV-II and to any future funds that they may organize in accordance with the
Partnership Agreement. Conflicts may arise in the allocation of investment opportunities and
the Fund Managers’ time among the Fund and other such partnerships and any such future
funds. Prospective investors should be aware that there may be occasions when the General
Partner, the Fund Managers, the Management Company and their affiliates will encounter
potential conflicts of interest in connection with the Fund’s activities. The Partnership
Agreement will contain certain protections for Limited Partners against conflicts of interest
faced by the General Partner and its partners, but will not purport to address all types of
conflicts that may arise. Moreover, as a practical matter, it may be difficult for Limited Partners
to subject the behavior of the General Partner, the Management Company and their partners to
close scrutiny.
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Profits Not Shared in Proportion to Contributed Capital
The capital contribution of the General Partner will represent only a small portion of the Fund’s
capital. Limited Partners may invest greater amounts and may receive a proportionately
smaller amount of the profits of the Fund than the General Partner. The General Partner may
have an incentive to make investments that are riskier or more speculative than if the General
Partner received allocations on a basis identical to that of the Limited Partners in the Fund or
was compensated on a basis not tied to the performance of the Fund.
Investment Opportunities
The General Partner may in certain circumstances allocate investment opportunities to prior
funds or potential successor funds. Allocation of investment opportunities will be made in
good faith by the General Partner. There can be no assurance that the allocation of investment
opportunities by the General Partner will not give rise to conflicts of interest between the
investors of the respective funds.
Long-Term Investment
An investment in the Fund is a long-term commitment, and there is no assurance of any
distribution to the Limited Partners prior to or upon liquidation of the Fund.
Illiquidity of Limited Partner Interests
The Limited Partner Interests are highly illiquid. There is no public market for the Limited
Partner Interests and none is expected to develop. Limited Partner Interests in the Fund may
not be assigned, transferred or encumbered without the prior written consent of the General
Partner. Voluntary withdrawals of Limited Partner Interests are not permitted, except in
limited circumstances where necessary to comply with laws or regulations applicable to a
Limited Partner. Consequently, a Limited Partner may not be able to liquidate their investment
in the event of a change in circumstances or for other reasons and, therefore, must be prepared
to bear the risks of owning its interest in the Fund for an extended period of time. The Limited
Partner Interests will not be registered under the Securities Act of 1933, as amended (the
“Securities Act”), or under the various “Blue Sky” or securities laws of the state or jurisdiction
of residence of any Limited Partner of the Fund. The Limited Partner Interests are being offered
only to “accredited investors” under an exemption in Section 4(2) of the Securities Act and the
rules of the Securities and Exchange Commission thereunder and exemptions under the various
applicable “Blue Sky” and other state securities laws.
Bridge Financings and Guarantees
From time to time, the Fund may lend to portfolio companies on a short-term, unsecured basis
or guaranty portfolio company obligations in anticipation of a future issuance of equity or longterm
debt securities. Such bridge loans would typically be convertible into a more permanent,
long-term security; however, for reasons not always in the Fund’s control, such long-term
securities may not issue and such bridge loans or guarantees may remain outstanding. In such
event, the interest rate on such loans or compensation for such guaranty (if any) may not
adequately reflect the risk associated with the unsecured position taken or guaranty given by
the Fund.
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Portfolio Company Leverage
To the extent that any investment is made in a portfolio company with a leveraged capital
structure, such investment will be subject to increased exposure to adverse economic factors
such as a significant rise in interest rates, a severe downturn in the economy or deterioration in
the condition of such company or its industry. If such a company is unable to generate
sufficient cash flow to meet principal and interest payments on its indebtedness, the value of
any equity investment by the Fund in such company could be significantly reduced or even
eliminated.
Investments in Public Companies
The Fund may invest in public companies or take private portfolio companies public.
Investments in public companies may subject the Fund to risks that differ in type or degree
from those involved with investments in privately held companies. Such risks include, without
limitation, greater volatility in the valuation of such companies, increased obligations to
disclose information regarding such companies, limitations on the ability of the Fund to dispose
of securities at certain times (including due to the possession by the Fund of material non-public
information), increased likelihood of shareholder litigation against such companies’ board
members, which may include the Fund Managers or other Management Company personnel,
regulatory action by the U.S. Securities and Exchange Commission and increased costs
associated with each of the aforementioned risks.
Hedging Techniques
From time to time, the Fund might have investments that are publicly traded, yet illiquid. The
General Partner might engage in hedging techniques, such as selling the corresponding shares
short “against the box,” to “lock in” or secure the value in an investment until it becomes liquid
and freely tradable. The Fund will only sell short a stock to the extent it holds a corresponding
long and illiquid position in the same company.
Portfolio Trading
The Fund does not generally intend to trade its assets for short-term profits, however, when
circumstances warrant, securities may be sold by the Fund without regard to the length of time
held. Any active short-term trading of the Fund will increase its rate of turnover and related
transaction expenses.
Non-U.S. Investments
The Fund may invest a portion of Fund’s total committed capital in the securities of issuers that
are organized outside of the U.S. and Canada. Investing in non-U.S. securities may involve
substantially greater risks than investing in U.S. securities including risks relating to (i) currency
exchange matters, including fluctuations in the rate of exchange between the U.S. dollar and the
various foreign currencies in which the Fund’s non-U.S. investments are denominated, and
costs associated with conversion of investment principal and income from one currency to
another; (ii) differences between the U.S. and non-U.S. securities markets, including potential
price volatility in and relative illiquidity of some non-U.S. securities markets; (iii) the absence of
uniform accounting, auditing and financial reporting standards, practices and disclosure
requirements, and differences in government supervision and regulation; (iv) certain economic
and political risks, including potential exchange control regulations, potential restrictions on
foreign investments and repatriation of capital and the risks associated with political, economic
or social instability, diplomatic developments, and the possibility of expropriation or
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confiscatory taxation; and (v) the possible imposition of non-U.S. taxes on income and gains
recognized with respect to such securities. While the General Partner will take these factors into
consideration in making investment decisions for the Fund and intends to manage the Fund in a
manner to minimize exposure to the foregoing risks, there can be no assurance that the General
Partner will be able to evaluate the risks accurately or that adverse developments with respect
to such risks will not adversely affect the value or realization of investments that are held by the
Fund in certain countries.
Reserves
As is customary in the industry, the General Partner may establish reserves for follow-on
investments by the Fund in portfolio companies, operating expenses (including the
Management Fee), Fund liabilities, and other matters. Estimating the appropriate amount of
such reserves is difficult, especially for follow-on investment opportunities, which are directly
tied to the success and capital needs of portfolio companies. Inadequate or excessive reserves
could impair the investment returns to the Limited Partners. If reserves are inadequate, the
Fund may be unable to take advantage of attractive follow-on or other investment opportunities
or to protect its existing investments from dilutive or other punitive terms associated with “payto-play”
or similar provisions. If reserves are excessive, the Fund may decline attractive
investment opportunities or hold unnecessary amounts of capital in money market or similar
low-yield accounts.
Diverse Investors
The Limited Partners may have conflicting investment, tax, and other interests with respect to
their investments in the Fund. The conflicting interests of individual Limited Partners may
relate to or arise from, among other things, the nature of investments made by the Fund, the
structuring or the acquisition of investments and the timing of disposition of investments. As a
consequence, conflicts of interest may arise in connection with decisions made by the Fund
Managers, including with respect to the nature or structuring of investments that may be more
beneficial for some Limited Partners than for others, particularly with respect to investors’
individual tax situations. In selecting and structuring investments appropriate for the Fund, the
General Partner will consider the investment and tax objective of the Fund and the Partners as a
whole, not the investment, tax or other objective of any Limited Partner individually.
Failure of Limited Partners to Fulfill Their Commitment Obligations
The Fund’s investments in portfolio companies will require capital calls on Limited Partners
over an extended period of time. Failure by a Limited Partner to meet a capital call could result
in the failure of the Fund to make desired investments, which could have adverse consequences
for the Fund and thus all of the Limited Partners. The failure by the Fund to receive a
significant portion of capital contributions due from Limited Partners in respect of their
Commitments could materially impair the Fund’s ability to realize its financial objectives. In
the event that a Limited Partner defaults, such Limited Partner may be subject to various
penalties, including forfeiture of all or a portion of its interest in the Fund, as provided in the
Partnership Agreement.
Risk of Dilution
Limited Partners subscribing for interests at subsequent closings will participate in existing
investments of the Fund, diluting the interest of existing Limited Partners therein. Although
such Limited Partners will contribute their pro rata share of prior capital contributions
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previously drawn down by the Fund (plus an additional amount thereon), there can be no
assurance that such payment will reflect the fair value of the Fund’s existing investments at the
time such additional Limited Partners subscribe for such interests.
Difficulty in Valuing Portfolio Investments and Distribution in Kind
Generally, there will be no readily available market for a substantial number of the Fund’s
investments and hence, most of the Fund’s investments will be difficult to value. The securities
in which the Fund will invest may be among the most junior in a portfolio company’s capital
structure, and thus subject to the greatest risk of loss. It is highly speculative as to the whether
and when a portfolio company will be able to register its securities so that the securities become
eligible for trading in public markets. Certain investments may be distributed in kind to the
Partners of the Fund. An investor that receives assets other than cash from the Fund may incur
costs and delays in converting those assets to cash.
Non-Controlling Investments
The Fund generally expects to make non-controlling investments in portfolio companies where
the Fund may not be able to control or effectively influence the business or affairs of such
entities. Portfolio companies in which the Fund’s investments are made may have economic or
business interests or goals which are inconsistent with those of the Fund, and the Fund may not
be in a position to influence those interests or goals or otherwise protect the value of the Fund’s
investments in such entities. In addition, although the Fund may seek board representation in
connection with its investments, there is no assurance that such representation, if sought, will
be obtained.
Service on Board of Directors
The Fund typically will seek to have observation or visitation rights or the right to designate
directors to serve on the boards of directors of the Fund’s portfolio companies. In addition,
affiliates of the General Partner may serve, from time to time, as officers or directors of the
portfolio companies. The foregoing rights and activities could expose the General Partner, its
affiliates and the assets of the Fund to regulatory action and/or lawsuits and claims by a
portfolio company, its security holders and its creditors. While the General Partner intends to
manage the Fund in a way that will minimize exposure to these risks, the possibility of
successful claims or lawsuits or adverse regulatory action cannot be eliminated, and such events
could have significant adverse effects on the Fund.
Material Non-Public Information
By reason of their responsibilities in connection with their other activities, certain affiliates of
the General Partner may acquire confidential or material non-public information or be
otherwise restricted from initiating transactions in certain securities. The Fund will not be free
to act upon any such information. Due to these restrictions, the Fund may be not be able to
initiate a transaction that it otherwise might have initiated and may not be able to sell an
investment that it might otherwise might have sold.
In their capacity as officers or directors, affiliates of the General Partner will be subject to
fiduciary or other duties to the portfolio company, which may adversely affect the Fund. For
example, the Fund may be prohibited from selling publicly traded securities of a portfolio
company if the General Partner or any of its affiliates is in possession of material non-public
information relating to such company.
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Recourse to the Fund’s Assets
The Fund’s assets, including any investments made by the Fund and any funds held by the
Fund, are available to satisfy all liabilities and other obligations of the Fund. If the Fund
becomes subject to a liability, parties seeking to have the liability satisfied may have recourse to
the Fund’s assets generally and will not be limited to any particular assets, such as the asset
representing the investment giving rise to the liability. Accordingly, investors could find their
interest in the Fund’s assets adversely affected by a liability arising out of an investment of the
Fund.
Contingent Liabilities on Disposition of Investments
In connection with the disposition of an investment in a portfolio company or otherwise, the
Fund may be required to make representations about the business and financial affairs of the
portfolio company typical of those made in connection with the sale of any business. The Fund
may also be required to indemnify the purchasers of such portfolio company to the extent that
any such representations turn out to be inaccurate. These arrangements may result in
contingent liabilities, which might ultimately have to be funded by the investors to the extent of
their Commitment to the Fund or previous distributions made to them.
Certain Litigation Risks
The Fund will be subject to a variety of litigation risks, particularly if one or more of its portfolio
companies face financial or other difficulties during the term of the Fund. Legal disputes,
involving any or all of the Fund, the General Partner, its partners or its affiliates, may arise from
the Fund’s activities and investments and could have a significant adverse effect on the Fund.
Indemnification
The Fund will be required to indemnify, among others, the General Partner, the general partner
of the General Partner, the Management Company, the Fund Managers, their respective
partners, members, employees, venture partners and affiliates, the Fund’s other agents and
members of the Advisory Board for liabilities incurred in connection with the affairs of the
Fund. Such liabilities may be material. For example, in their capacity as directors of portfolio
companies, the partners, managers, or affiliates of the General Partner may be subject to
derivative or other similar claims brought by security holders of such companies. The
indemnification obligations of the Fund would be payable from the assets of the Fund,
including the unused capital commitments of the Partners. If the assets of the Fund are
insufficient to pay such indemnification obligations, the Limited Partners may be required to
return distributions previously made to them in order to satisfy such obligations.
Changes
The Fund’s investment program is intended to extend over a period of years, during which the
business, economic, political, regulatory, and technology environment within which the Fund
operates may undergo substantial changes, some of which may be adverse to the Fund. The
General Partner will have the exclusive right and authority (within limitations set forth in the
Partnership Agreement) to determine the manner in which the Fund shall respond to such
changes, and Limited Partners generally will have no right to withdraw from the Fund or to
demand specific modifications to the Fund’s operations in consequence thereof. A major
recession or adverse developments in the securities or credit markets might have an impact on
some or all of the Fund’s investments. A sustained period of inactivity and/or low valuations
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in the public equity markets could result in substantially lower liquidation values and
substantially longer periods before liquidity is achieved in comparison with historical values,
which would reduce the returns that could be achieved by the Fund. In addition, factors
specific to a portfolio company may have an adverse effect on the Fund’s investment in such
company. The General Partner may rely upon its own or a portfolio company’s projections
concerning the portfolio company’s future performance in making investment decisions. Such
projections are inherently subject to uncertainty and to certain factors beyond the control of the
portfolio company and the General Partner. Prospective investors are particularly cautioned
that the investment sourcing, selection, management and liquidation strategies and procedures
exercised by partners of the General Partner in the past may not be successful, or even
practicable, during the Fund’s term.
Industry Specific Terminology
Prospective investors are cautioned that certain terms and phrases of common usage within the
venture capital industry may be misleading to those unfamiliar with such usage. In particular,
individuals who participate in the management of a fund often are referred to, in a colloquial
sense, as “general partners” even though they are not actually general partners of any
partnership. Prospective investors are reminded that the Fund will be a limited partnership,
that the General Partner will be a limited partnership, that the general partner of the General
Partner will be a limited liability company, and that the individuals directing the management
of the Fund through the General Partner will be members of such limited liability company. It
is not intended that the Fund will have any general partner other than the General Partner or
that any actual general partnership will in any manner be associated with the formation,
operation, dissolution or termination of the Fund. Prospective investors must not presume or
rely upon the existence of any actual legal entities other than the Fund, the General Partner and
the general partner of the General Partner. With respect to all matters involving industry
specific terminology, prospective investors are urged to consult with their own legal and other
advisors.
Fund and General Partner Not Registered
The Fund will not be registered under the Investment Company Act of 1940, as amended (the
“Investment Company Act”) pursuant to an exemption set forth in Sections 3(c)(1) and/or
3(c)(7) of the Investment Company Act. There is no assurance that such exemptions will
continue to be available to the Fund. Due to the burdens of compliance with the Investment
Company Act, the performance of the Fund’s investment portfolio could be materially
adversely affected, and risks involved in financing portfolio companies could substantially
increase, if the Fund becomes subject to registration under the Investment Company Act.
Neither the Fund nor its counsel can assure investors that, under certain conditions, changed
circumstances, or changes in the law, the Fund may not become subject to the Investment
Company Act or other burdensome regulation. The General Partner is not registered as a
broker/dealer under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and
with the National Association of Securities Dealers, Inc. (the “NASD”) and is consequently not
subject to the record keeping and specific business practice provisions of the Exchange Act and
the rules of the NASD.
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Tax Risks
Certain tax risks relating to an investment in the Fund are discussed in Section XI “Certain Tax
& ERISA Considerations”, which prospective investors should read carefully. No assurances
can be given that current tax laws, rulings and regulation will not be changed during the life of
the Fund. Prospective Limited Partners should consult their tax advisors for further
information about the tax consequences of purchasing a Limited Partner Interest in the Fund.
Withholding and Other Taxes
The General Partner intends to structure the Fund’s investments in a manner that is intended to
achieve the Fund’s investment objectives and, notwithstanding anything contained herein to the
contrary, there can be no assurance that the structure of any investment will be tax efficient for
any particular investor or that any particular tax result will be achieved. In addition, tax
reporting requirements may be imposed on investors under the laws of the jurisdictions in
which investors are liable to taxation or in which the Fund makes portfolio investments.
Prospective investors should consult their own professional advisors with respect to the tax
consequences to them of an investment in the Fund under the laws of the jurisdiction in which
they are liable to taxation. Furthermore, the Fund’s returns in respect of its investments may be
reduced by withholding or other taxes imposed by jurisdictions in which the Fund’s portfolio
companies are organized.
Confidential Information
The Partnership Agreement will contain confidentiality provisions intended to protect
proprietary and other information relating to the Fund and the Fund’s portfolio companies. To
the extent that such information is publicly disclosed, competitors of the Fund and/or
competitors of its portfolio companies, and others, may benefit from such information, thereby
adversely affecting the Fund, its portfolio companies and the General Partner and the economic
interests of Limited Partners.
Written Agreements
The Fund, the General Partner and the Management Company will be authorized, without the
approval of any Limited Partner, to enter into side letters or similar written agreements with
Limited Partners that have the effect of establishing rights under, or altering or supplementing
the terms of this Memorandum, the Partnership Agreement, such Limited Partner’s
Subscription Agreement or other related agreements. The ability of other Limited Partners to
receive copies of and/or elect to receive the benefit of such side agreements will be limited.
Market volatility
Since 2008, the capital, credit and securities markets have been experiencing unprecedented
levels of volatility and disruption. Ongoing volatility could negatively impact the Fund in a
number of ways. Many of the investments purchased, held and sold on behalf of the Fund may
be complex, and their market values will be highly sensitive to market changes. Overall Fund
returns may be reduced as relatively small changes in the capital, credit or securities markets
may have significant impacts on the profitability of Fund investments. In addition, the U.S.
Congress and regulatory agencies may adopt new financial regulations and tax policies in
response to continued volatility, which could restrict the Fund’s investment options and be
otherwise unfavorable to the Fund.
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Regulatory Changes
On June 22, 2011, to implement provisions of Title IV of the Dodd-Frank Wall Street Reform and
Consumer Protection Act, the U.S. Securities and Exchange Commission (the “SEC”) adopted
final rules implementing new exemptions from the registration requirements of the Investment
Advisers Act of 1940 (the “Advisers Act”), one of which is commonly known as the venture
capital fund exemption. Neither the General Partner nor the Management Company is currently
expected to register as an investment adviser with the SEC in reliance on the venture capital
fund exemption. The General Partner may need to take into consideration certain conditions
regarding the nature of investments that may be made by investment vehicles advised by an
investment adviser relying on the venture capital exemption, which may constrain the Fund’s
investment flexibility or require certain non-qualifying investments to be disposed of earlier
than they might otherwise be. In addition, compliance with the venture capital fund exemption
may subject the Fund to limitations on the Fund’s operations, including limitations on the
Fund’s ability to borrow, provide guarantees and make short-term investments that are more
restrictive than any limitation set forth in the Partnership Agreement.
Reliance on the venture capital exemption also will necessitate reporting certain information to
the SEC about the Management Company, the General Partner and their affiliates and may
result in such entities being subject to SEC examination authority and certain Advisers Act
compliance obligations. If the General Partner and the Management Company are able to rely
on the venture capital exemption, investors in the Fund will not be entitled to the benefits of
certain protections under the Advisers Act. If the General Partner or the Management Company
cannot rely on the venture capital exemption, the General Partner or the Management Company
may need to register as an investment adviser under the Advisers Act. Registration under, and
compliance with, the Advisers Act could be costly and could divert attention of the Fund’s
management team. There also can be no assurance that statutory, regulatory, judicial or
administrative interpretations of existing laws and regulations will not in the future impose
more comprehensive or stringent requirements on the General Partner or the Management
Company.
Cautionary Statements Regarding Forward-Looking Statements. Certain information
contained in this Memorandum constitutes “forward-looking statements,” which can be
identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,”
“anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe,” or the negatives thereof
or other variations thereon or comparable terminology. Such forward-looking statements,
including the intended actions and performance objectives for the Fund, involve known and
unknown risks, uncertainties and other important factors that could cause actual results,
performance or achievements of the Fund to differ materially from any future results,
performance or achievements expressed or implied by such forward-looking statements.
Although this information was prepared by the General Partner based on its experience in the
industry and on assumptions of fact and opinion as to future events that the General Partner
believed to be reasonable when made, no representation is made or assurance given that such
statements, views, projections or forecasts are correct or that the objectives of the Fund will be
achieved or that investors will receive a return of their capital. Moreover, neither the Fund nor
the General Partner, nor any of their affiliates, assumes responsibility for the accuracy and
completeness of any forward-looking statements. All forward-looking statements in this
Memorandum speak only as of the date of this Memorandum. The Fund, the General Partner
and their affiliates expressly disclaim any obligation or undertaking to disseminate any updates
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or revisions to any forward-looking statement contained herein to reflect any change in its
expectation with regard thereto or any change in events, conditions or circumstances on which
any such statement is based. Due to various risks and uncertainties, actual events or results or
the actual performance of the Fund may differ materially from those reflected or contemplated
in such forward-looking statements. Limited Partners are cautioned not to place undue reliance
on such statements.
THE FOREGOING LIST OF RISK FACTORS AND CONFLICTS OF INTEREST DOES NOT
PURPORT TO BE A COMPLETE EXPLANATION OF THE RISKS INVOLVED IN THIS
OFFERING. PROSPECTIVE INVESTORS ARE URGED TO READ THIS ENTIRE
MEMORANDUM BEFORE DETERMINING TO INVEST IN THE FUND.
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X. CERTAIN TAX AND ERISA CONSIDERATIONS
IN ACCORDANCE WITH U.S. TREASURY REGULATIONS GOVERNING PRACTICE
BEFORE THE INTERNAL REVENUE SERVICE (CIRCULAR 230), LEGAL COUNSEL TO
THE FUND HEREBY INFORMS INVESTORS THAT (A) THE INFORMATION BELOW
(OR OTHERWISE CONTAINED IN THIS DOCUMENT) IS NOT INTENDED OR
WRITTEN TO BE USED, AND CANNOT BE USED, BY THE INVESTORS FOR THE
PURPOSE OF AVOIDING PENALTIES THAT THE INTERNAL REVENUE SERVICE (THE
“IRS”) MAY ATTEMPT TO IMPOSE ON AN INVESTOR, (B) THE INFORMATION WAS
WRITTEN TO SUPPORT THE PROMOTION OR MARKETING OF THE TRANSACTION
OR MATTERS ADDRESSED BY THE WRITTEN INFORMATION, AND (C) INVESTORS
SHOULD SEEK TAX ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES
FROM AN INDEPENDENT TAX ADVISOR.
CERTAIN U.S. FEDERAL INCOME TAX CONSIDERATIONS
The following is a brief summary of certain U.S. federal income tax considerations that may be
relevant to an investment in the Fund. This summary does not contain a comprehensive
discussion of all U.S. federal income tax consequences that may be relevant to a Partner in view
of that Partner’s particular circumstances or (unless otherwise indicated) to certain Partners
subject to special treatment under U.S. federal income tax laws — such as regulated investment
companies, personal holding companies, brokers or dealers in securities, banks and certain
other financial institutions, tax-exempt organizations, trusts, and insurance companies — nor
does it address any state, estate, local, foreign, or other tax consequences of an investment in the
Fund, except as otherwise provided herein. This summary is based on the assumptions that (i)
each Partner (and each of its beneficial owners, as necessary under U.S. federal income tax
withholding and backup withholding rules) will provide all appropriate certifications to the
Fund in a timely fashion to minimize withholding (or backup withholding) on each Partner’s
distributive share of the Fund’s gross income and (ii) each Partner will hold its Limited Partner
Interest in the Fund as a capital asset for U.S. federal income tax purposes. Each prospective
investor should also note that, except as otherwise provided herein, this summary does not
address the interaction of U.S. federal tax laws and any income or estate tax treaties between the
U.S. and any other jurisdiction.
No assurance can be given that the IRS will concur with the tax consequences set forth below.
Each prospective investor is advised to consult its own tax counsel as to the specific U.S.
federal income tax consequences of an investment in the Fund and as to applicable foreign,
state, estate, and local taxes.
General Matters
Classification of the Fund - Pursuant to applicable U.S. Treasury Regulations, the Fund will be
treated as a partnership, rather than a corporation, for U.S. federal income tax purposes unless
the Fund affirmatively elects to be treated as a corporation for such purposes. The General
Partner has no intention of making such an election on behalf of the Fund and does not
anticipate any circumstances under which such an election would be made. In certain cases
under Section 7704 of the Internal Revenue Code of 1986, as amended (the “Code”), a
partnership that is classified as a “publicly traded partnership” may be taxed as a corporation
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for U.S. federal income tax purposes. The following discussion is based on the assumption that
the Fund will not be treated as a “publicly traded partnership.”
Treatment of U.S. Partners and Non-U.S. Partners - The discussion below addresses separately
certain U.S. federal income tax matters relevant to U.S. Partners and Non-U.S. Partners. For
purposes of this discussion, the term “U.S. person” generally means any U.S. citizen or resident
individual, any corporation, limited liability company, or partnership organized under U.S. law,
any estate (other than an estate the income of which, from sources outside the U.S. that is not
effectively connected with a trade or business within the U.S., is not includible in its gross
income for U.S. federal income tax purposes), and any trust if a court within the U.S. is able to
exercise primary supervision over the administration of the trust and one or more U.S. persons
have the authority to control all substantial decisions of the trust. The term “U.S. Partner”
means any partner that is a U.S. person and, unless the context otherwise requires, includes any
U.S. person that holds an equity interest in the Fund through one or more partnerships or other
entities treated as transparent for U.S. federal income tax purposes. The term “Non-U.S.
Partner” means a Partner that is not a U.S. person.
Taxation of Fund Operations Generally - As a partnership, the Fund will not pay U.S. federal
income taxes, but each U.S. Partner will be required to report that Partner’s distributive share
(whether or not distributed) of the Fund’s income, gains, losses, deductions and credits of the
character specified in Section 702 of the Code. It is possible that the U.S. Partners could incur
U.S. federal income tax liabilities without receiving from the Fund sufficient distributions to
defray such tax liabilities. The Fund’s taxable year will be the calendar year, or such other
period as required by the Code. Tax information will be delivered to all Partners on an annual
basis to enable the Partners to complete their tax returns.
Election to Adjust Basis of Fund Assets - Under the principal agreements relating to the Fund
and Section 754 of the Code, the General Partner will have the authority to elect to adjust the
basis of the Fund’s assets (commonly referred to as “Section 754 adjustments”) in connection
with certain distributions made by the Fund to Partners or certain transfers of Limited Partner
Interests in the Fund. Although the General Partner has no present intention of making an
election on behalf of the Fund under Section 754 of the Code, Section 754 adjustments may
nevertheless be mandatory under certain circumstances and could affect the amount of a
Partner’s allocations (for U.S. federal income tax purposes) of gain or loss recognized by the
Fund on a disposition of its assets.
The General Partner also will have the authority under the principal agreements relating to the
Fund to elect to treat the Fund as an “electing investment partnership” and, as a result,
potentially avoid making Section 754 adjustments that otherwise would be mandatory with
respect to certain transfers of Limited Partner Interests in the Fund. Such election, however,
may result in the disallowance (for U.S. federal income tax purposes) of certain losses allocated
by the Fund to transferees of Limited Partner Interests in the Fund. It is possible, however, that
the Fund will not be able to qualify as an electing investment partnership.
The General Partner will have the authority to require any Partner engaging in a transaction
that requires a Section 754 adjustment (for example, a transfer of the Partner’s Limited Partner
Interest) to bear the ongoing administrative and other costs incurred by the Fund or its Partners
in connection with these basis adjustment rules. These costs, which could be significant, may be
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charged to a Partner without regard to whether the General Partner made either of the elections
described above on behalf of the Fund. Furthermore, each Partner will be required to provide
the Fund with any information necessary to allow the Fund to comply with its obligations to
make Section 754 adjustments and/or its obligations as an electing investment partnership.
Tax-Exempt U.S. Partners
Unrelated Business Taxable Income - Under the terms of the principal agreements relating to
the Fund, the General Partner will be required to use reasonable best efforts to conduct the
affairs of the Fund in a manner that does not cause any tax-exempt U.S. Partner to recognize
any “unrelated business taxable income” within the meaning of Section 512 of the Code;
provided, however, that the General Partner may cause the Fund to borrow on a short-term
basis and may guarantee the indebtedness of any portfolio company. The General Partner’s
undertaking will be deemed satisfied with respect to the making, holding or disposing of any
portfolio investment if the tax-exempt U.S. Partners are given the opportunity to (or if all
Limited Partners are otherwise required to) hold their proportionate shares of such portfolio
investment directly or indirectly through an alternative investment vehicle treated as a
corporation for U.S. federal income tax purposes. Notwithstanding this undertaking, it is
possible that the Fund could realize income which would constitute unrelated business taxable
income, and in that event each tax-exempt U.S. Partner would be subject to U.S. federal income
tax on its share of such income and may be required to file a U.S. federal income tax return with
respect to such income.
Taxable U.S. Partners
Limitations on Allowable Deductions - Under Section 67 of the Code, U.S. taxpayers who are
individuals may deduct certain miscellaneous expenses (e.g., investment advisory fees, tax
preparation fees, and unreimbursed employee expenses such as the cost of subscriptions to
professional journals) only to the extent that these deductions exceed, in the aggregate, 2% of
the taxpayer’s adjusted gross income. Further, Section 68 of the Code disallows certain
deductions otherwise allowable to taxpayers who are individuals; the amount disallowed varies
based on the taxpayer’s adjusted gross income. Part or all of the Fund’s expenses allocated to
any U.S. Partner who is an individual (including that Partner’s share of the management fee
payable to the Fund’s Management Company) may be disallowed under these provisions,
although tax-exempt U.S. Partners will generally not be affected. Finally, certain expenses
(including the fees and expenses of placement agents, if any) incurred in connection with the
offer and sale of the Limited Partner Interests are not deductible by any U.S. Partner. If the
Management Company or an affiliate pays the fees or expenses of any placement agent, a
corresponding portion of the Fund’s expenses attributable to payments or accruals of the
management fee is likely to constitute a nondeductible syndication expense.
Surtax on Unearned Income - Section 1411 of the Code generally imposes a 3.8% surtax on the
“net investment income” of certain U.S. Partners who are citizens or resident aliens, and on the
undistributed “net investment income” of certain U.S. estates and trusts. Among other items,
“net investment income” generally would include a U.S. Partner’s allocable share of the Fund’s
net gains and certain other income such as interest and dividends, less deductions allocable to
such income. In addition, “net investment income” may include gain from the sale, exchange or
other taxable disposition of an interest in the Fund, less certain deductions. U.S. Partners
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potentially subject to the surtax should consult their own advisors concerning its potential
applicability to their individual circumstances.
Passive Foreign Investment Companies - A portfolio investment by the Fund in a non-U.S.
corporation that is classified as a “passive foreign investment company” (“PFIC”) will cause
taxable U.S. Partners to be subject to taxation under Sections 1291 through 1298 of the Code. In
general, a non-U.S. corporation will be classified as a PFIC if 75% or more of its gross income
constitutes “passive income” — generally, interest, dividends, royalties, rent and similar
income, and gains on the disposition of assets that generate such income — or 50% or more of
its assets (by value or, in certain situations, by adjusted tax bases) produce passive income or
are held for the production of such income. Under the PFIC rules, gain attributable to a
disposition of PFIC stock, as well as income attributable to certain “excess distributions” with
respect to that PFIC stock, is allocated ratably over the shareholder’s holding period for the
stock. Gain allocated under this rule to (i) the year in which the shareholder disposes of the
PFIC stock and (ii) any year prior to the time the foreign corporation first satisfied the PFIC
income or assets test, as well as income attributable to any excess distribution on PFIC stock
allocated to those years, is subject to tax (as ordinary income) at the U.S. federal income tax
rates applicable to the shareholder for the year in which the disposition occurs. Disposition
gain attributable to years included in the shareholder’s holding period — other than those
described in the preceding clauses (i) and (ii) — and income attributable to excess distributions
allocated to each such other year is subject to tax (as ordinary income) at the maximum U.S.
federal income tax rate applicable to the shareholder for the year in which the income is treated
as realized, and also to an interest-like charge on the shareholder’s “deferred” payment of this
tax liability that accrues generally from the year of deemed realization through the due date of
the shareholder’s U.S. federal income tax return for the year of disposition or distribution
(determined without regard to extensions). A U.S. Partner effectively will be treated as a U.S.
shareholder with respect to its proportionate share of any PFIC stock owned by the Fund. If,
however, that PFIC is also a “controlled foreign corporation” in which the Fund is a “United
States Shareholder” (as defined below), the PFIC rules generally will be superseded by the rules
discussed below dealing with controlled foreign corporations. The PFIC rules generally should
not affect tax-exempt U.S. Partners.
The PFIC rules are highly technical and it is possible that a non-U.S. corporation in which the
Fund makes an investment will be classified as a PFIC. If the Fund invests in the stock of a
portfolio company classified as a PFIC, and that company agrees to provide the Fund and, if
necessary, the IRS with certain financial information, the Fund may elect to treat that company
as a “qualified electing fund” (“QEF”). If the Fund holds stock of a non-U.S. corporation with
respect to which a QEF election has been made for the first taxable year in the Fund’s holding
period for which the non U.S. corporation is a PFIC, each U.S. Partner will be subject to tax
currently on its proportionate share of certain earnings and net capital gain of that non-U.S.
corporation — regardless of whether that corporation actually distributes cash or other property
to the Fund — but generally will not be subject to the tax regime described in the preceding
paragraph with respect to its investment in that corporation. Although the maximum rate of
tax imposed on certain dividends is currently 20%, this rate does not apply to dividends paid or
deemed paid by PFICs. A QEF election generally will not result in current inclusion of the
PFIC’s earnings for any year in which the PFIC has no net ordinary earnings and no net capital
gain. Alternatively, if such PFIC stock is publicly traded, the Fund may be eligible to value the
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stock annually on a “mark-to-market” basis so that the Fund may treat any resulting gain or
loss as ordinary income or loss to avoid the PFIC tax.
As noted above, the PFIC rules (including the rules pertaining to QEF elections) generally
should not affect tax-exempt U.S. Partners.
The Fund cannot predict with any certainty at this time whether any non-U.S. portfolio
company in which the Fund invests may be subject to the PFIC regime, whether a timely QEF
election can or will be made, or the effect or availability of any applicable elections made by the
Fund. The rules applicable to PFICs are complex, and the foregoing summary of U.S. federal
income taxation of U.S. Partners indirectly owning an interest in a PFIC is general in nature. It
is possible that U.S. Partners may be subject to tax currently under the PFIC regime on their
proportionate shares of certain earnings of a non-U.S. corporation in which the Fund holds an
interest and/or may incur nondeductible interest-like charges on tax liability deferred under the
PFIC regime without receiving from the Fund distributions sufficient to satisfy any such
obligations.
In addition to the PFIC rules discussed above, a U.S. person that is a shareholder of a PFIC may
be required to file an annual information report and/or applicable tax forms with the IRS.
Controlled Foreign Corporations - Under Sections 951 through 957 of the Code, special rules
apply to U.S. persons who own, directly or indirectly and applying certain attribution rules,
10% or more of the total combined voting power of all classes of stock of a non-U.S. corporation
(each, a “United States Shareholder”) that is a “controlled foreign corporation” (“CFC”). For
this purpose, the Fund will be treated as a United States Shareholder of any foreign corporation
in which the Fund’s share ownership reaches this 10% threshold. A non-U.S. corporation
generally will be a CFC for a taxable year if United States Shareholders collectively own more
than 50% of the total combined voting power or total value of the corporation’s stock on any
day during such taxable year. United States Shareholders of a CFC generally must include in
their gross income for U.S. federal income tax purposes their pro rata shares of certain earnings
and profits of the CFC. Further, under Section 1248 of the Code, if a U.S. person sells or
exchanges stock of a non-U.S. corporation and that person is or was a United States Shareholder
at any time during the five-year period ending on the date of such sale or exchange during
which that non-U.S. corporation was a CFC, that U.S. person generally will be required to treat
a portion of the gain recognized upon such sale or exchange as a dividend to the extent of the
earnings and profits of the CFC attributable to such stock. Under U.S. federal income tax rules,
the Fund itself is a U.S. person and, if the Fund becomes a United States Shareholder of a CFC,
taxable U.S. Partners (i) will be required to report and pay tax currently on their shares of the
CFC’s earnings and profits attributable to the Fund that are taxable to its United States
Shareholders under the CFC rules, and (ii) will be subject to the Section 1248 recharacterization
rule described above. In addition, if the Fund is a United States Shareholder of a CFC and a
U.S. Partner disposes of its Limited Partner Interest, that Partner generally will recognize
income under Section 751 of the Code equal to its distributive share of the Section 1248 income
that would have been triggered if the Fund had sold its interest in the CFC at fair market value.
The maximum rate of tax imposed on certain dividend income and certain long-term capital
gains attributable to dispositions of securities generally is 20%, so that a recharacterization of
gain under Section 1248 might not increase that U.S. Partner’s U.S. federal income tax liability.
In addition, income of a CFC subject to income tax in a country other than the U.S. at an
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effective rate greater than 90% of the maximum U.S. corporate income tax rate is not taxable to a
United States Shareholder under the CFC rules if the United States Shareholder so elects.
The rules applicable to CFCs are complex, and the foregoing summary of the U.S. federal
income taxation of U.S. Partners indirectly owning an interest in a CFC is general in nature. The
General Partner cannot provide any assurance that the Fund’s portfolio companies will not be
CFCs. The CFC rules, however, generally should not affect tax-exempt U.S. Partners.
U.S. Foreign Tax Credits - The Fund may make investments in entities that are formed and
operating under the laws of countries other than the United States. The countries in which these
entities are organized and operate may impose taxes on the income of, and distributions or
other payments made by, these entities. In addition, the Fund and/or the Partners may be
required to file tax or information returns in such non-U.S. jurisdictions. U.S. Partners may be
entitled, under certain circumstances, to a reduced rate of non-U.S. tax on their shares of such
income or distributions under tax treaties between the United States and the non-U.S.
jurisdictions imposing such tax, or may, in certain circumstances, be entitled under such treaties
to file tax returns in such jurisdictions and claim refunds of any amounts of non-U.S. tax overwithheld.
Subject to applicable limitations on foreign tax credits, a U.S. Partner that is subject to U.S.
federal income taxation generally should be entitled to elect to treat foreign taxes withheld from
such Partner’s share of the Fund’s dividend and interest income as foreign income taxes eligible
for credit against such Partner’s U.S. federal income tax liability. Similarly, each U.S. Partner’s
share of any foreign taxes which may be imposed on capital gains or other income realized by
the Fund generally should be treated as creditable foreign income taxes. Capital gains realized
by the Fund, however, may be considered to be from sources within the U.S., which may
effectively limit the amount of foreign tax credit allowed to the U.S. Partner. Other complex tax
rules may also limit the availability or use of foreign tax credits, depending on each U.S.
Partner’s particular circumstances. Because of these limitations, U.S. Partners may be unable to
claim a credit for the full amount of their proportionate shares of any foreign taxes paid by the
Fund. U.S. Partners that do not elect to treat their shares of foreign taxes as creditable generally
may claim a deduction against U.S. taxable income for such taxes (subject to applicable
limitations on losses and deductions). Foreign tax credits or deductions generally will not
provide any benefit to tax-exempt U.S. Partners unless such Partners’ distributive shares of the
income or gains on which the related foreign income taxes are imposed constitute “unrelated
business taxable income” and certain other conditions are satisfied. However, since the
availability of a credit or deduction depends on the particular circumstances of each U.S.
Partner, Partners are advised to consult their own tax advisors.
Foreign Currency Issues - A U.S. Partner’s distributive share of profits or losses realized by the
Fund on the conversion of U.S. dollars into non-U.S. currency, or of non-U.S. currency into U.S.
dollars, generally will be treated as ordinary income or loss rather than capital gain or loss.
Further, if the Fund acquires, or becomes the obligor under, a debt instrument or enters into
certain other transactions, any of which is denominated in terms of a currency other than the
U.S. dollar, fluctuations in the value of that currency relative to the U.S. dollar generally will
result in foreign currency gain or loss realized by the Fund and will be included in the U.S.
Partners’ distributive shares of Fund profits or losses as U.S.-source ordinary income or loss
rather than capital gain or loss.
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U.S. Reporting by U.S. Partners That Are Owners of Non-U.S. Entities - U.S. tax rules impose
information reporting requirements on U.S. persons that own, either directly or indirectly under
stock attribution rules, more than certain threshold amounts of stock in a foreign corporation;
these persons must disclose, among other things, various transactions between themselves and
those foreign corporations. For purposes of these information reporting requirements, stock
ownership is determined with regard to certain stock attribution rules, and each U.S. Partner is
treated as owning part or all of the stock owned directly or indirectly by the Fund. Similar
reporting requirements apply to United States persons that (i) own, directly or indirectly, more
than certain threshold amounts of certain foreign financial assets including, but not limited to
stocks, securities and partnership interests in non-U.S. entities or (ii) contribute, in their capacity
as Partners, more than a certain threshold amount to a non-U.S. partnership during a 12-month
period. In certain circumstances, these rules may require U.S. Partners to file reports annually.
U.S. Partners generally will be responsible for satisfying these information reporting
requirements.
Non-U.S. Partners
U.S. Trade or Business Issues - Under the terms of the principal agreements relating to the
Fund, the General Partner will be required to use commercially reasonable efforts to conduct
the affairs of the Fund in a manner that limits the Fund’s operations to investing and other
related activities which, in the aggregate, would not cause the Fund to be treated as engaged in
the conduct of a trade or business in the U.S. The General Partner’s undertaking will be
deemed satisfied with respect to the making, holding or disposing of any portfolio investment if
the Non-U.S. Partners are given the opportunity to (or if all Limited Partners are otherwise
required to) hold their proportionate shares of such portfolio investment directly or indirectly
through an alternative investment vehicle treated as a corporation for U.S. federal income tax
purposes. Notwithstanding this undertaking, it is possible that the activities of the Fund and
the contractual arrangements into which it enters could cause the Fund to be treated as engaged
in the conduct of a trade or business in the U.S.
Provided that the Fund is not engaged in the conduct of a U.S. trade or business, the U.S.
federal income tax liability of a Non-U.S. Partner with respect to that Partner’s Limited Partner
Interest generally will be limited to withholding tax on certain gross income from U.S. sources
generated by the Fund as long as the Non-U.S. Partner undertakes no activities in the U.S.
(determined without regard to its investment in the Fund) that would cause that Partner to be
engaged in the conduct of a U.S. trade or business, and, unless otherwise indicated, the
following discussion of the U.S. federal income tax treatment of Non-U.S. Partners is based on
that assumption.
Further, if the Fund withholds and remits the proper amounts to the U.S. government, Non-U.S.
Partners that are individuals or corporations will not be required to file U.S. federal income tax
returns or pay additional U.S. federal income taxes solely as a result of their investment in the
Fund (though Non-U.S. Partners treated as trusts for U.S. federal income tax purposes are
subject to special rules). If the Fund is not engaged in the conduct of a U.S. trade or business,
Non-U.S. Partners’ shares of income and gains from sources other than the U.S. (e.g., interest or
dividends paid by non-U.S. portfolio companies and gains realized on the disposition of
securities of those companies) will not be subject to U.S. federal income tax.
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If it were ultimately established that the Fund is engaged in a U.S. trade or business, the Fund
generally would be required to withhold and remit to the U.S. government a percentage of the
Fund’s net income and gains that are both effectively connected with that trade or business and
allocated to Non-U.S. Partners, and would be liable for interest and penalties with respect to
amounts which were not so withheld. The relevant withholding percentage is the maximum
U.S. federal income tax rate for individuals or corporations, as applicable. In addition, Non-U.S.
Partners generally would be required to file U.S. federal income tax returns and pay tax in
respect of their shares of the Fund’s effectively connected income including capital gains, but
would be allowed a credit against U.S. federal income tax liability for amounts withheld by the
Fund on their behalf. Non-U.S. Partners which are non-U.S. corporations might also be subject
to a “branch profits” tax on certain earnings of the Fund deemed to have been repatriated to
those Partners.
Treatment of Interest and Dividends from U.S. Sources - Certain categories of investment
income from U.S. sources realized by the Fund, such as dividends and interest, generally will be
subject to U.S. income tax withholding, at a 30% rate on the gross amount of that income, when
included in the distributive shares of Non-U.S. Partners. A Non-U.S. Partner whose distributive
share of such income is subject to U.S. withholding tax may be able to claim an exemption or a
reduced rate of withholding under a tax treaty or convention between the U.S. and that
Partner’s country of residence by providing appropriate documentation regarding that
Partner’s residence for tax purposes and its satisfaction of any conditions imposed by the treaty.
A Non-U.S. Partner resident in a jurisdiction with which the U.S. has a tax treaty, however, will
not be entitled to the benefits of that treaty with respect to that Non-U.S. Partner’s distributive
share of the Fund’s income and gains unless the Fund is treated as fiscally transparent under
the law of that non-U.S. jurisdiction and certain other conditions are satisfied. Finally, in order
to claim the benefits of a tax treaty to reduce U.S. withholding tax on U.S.-source interest and
dividends paid by corporations that are not actively traded, a Non-U.S. Partner — and any
direct or indirect equity owner of a Non-U.S. Partner seeking treaty benefits for itself because
the Non-U.S. Partner is considered fiscally transparent in that equity owner’s jurisdiction —
generally will be required to obtain a U.S. taxpayer identification number from the IRS and may
be required to provide that number and certain other documentation to the Fund. Other
exemptions may be available for certain types of interest income.
Treatment of the Fund’s Capital Gains from U.S. Sources - Under current U.S. law, in general,
capital gains attributable to sales by the Fund of the securities of U.S. corporations will not be
subject to U.S. federal income taxation or tax withholding when allocated to a Non-U.S. Partner
unless that Partner is an individual who is present in the U.S. for 183 days or more during the
taxable year in which such gains are realized and certain other conditions are satisfied.
This general rule does not apply to gains attributable to a U.S. trade or business or gains
attributable to dispositions of securities of any “United States real property holding
corporation” (“USRPHC”), defined in Section 897 of the Code as, in general, a company with
50% or more of the fair market value of its business assets consisting of interests in U.S. real
estate and related assets. Capital gains attributable to sales by the Fund of the securities of a
U.S. corporation that is a USRPHC (other than debt securities with no equity component) may
be subject to U.S. income tax, collected initially by withholding, to the extent allocated to any
Non-U.S. Partner. Non-U.S. Partners would also be required to file U.S. federal income tax
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CONTROL NUMBER 257 - CONFIDENTIAL
returns, and might be liable for U.S. tax in excess of the amount collected by withholding.
Similarly, Non-U.S. Partners could become subject to U.S. federal income tax and tax return
filing obligations, as a result of transfers of their Limited Partner Interests at a time when the
Fund owned stock of any U.S. corporation that is a USRPHC, although certain exceptions may
apply. Even if a company in which the Fund invests is not a USRPHC at the time of such
investment, such company subsequently may become a USRPHC.
Currency Conversion Issues - Non-U.S. Partners (like other Partners) will be required to make
their capital contributions to the Fund in U.S. dollars, and any cash distributions made by the
Fund will be made in U.S. dollars. Profits or losses realized by Non-U.S. Partners on the
conversion of other currencies into U.S. dollars, or of U.S. dollars into other currencies, will
neither be reflected in the capital accounts of the Partners nor affect the amounts distributable
by the Fund to its Non-U.S. Partners.
Withholding on Payments to Certain Foreign Entities - Sections 1471 through 1474 of the Code
would generally impose a withholding tax of 30% on certain gross amounts of income not
effectively connected with a U.S. trade or business paid to certain foreign entities, unless certain
requirements are satisfied. Amounts subject to withholding tax under these rules generally
include gross U.S.-source dividend and interest income paid on or after July 1, 2014, as well as
gross proceeds from the sale of property that produces U.S.-source dividend or interest income
paid on or after January 1, 2017. To avoid withholding under these rules, Non-U.S. Partners
that are subject to these rules will generally be obligated to comply with certain information
reporting and disclosure requirements, including, in certain cases, entering into an agreement
with the IRS. Non-U.S. Partners are encouraged to consult their own tax advisors regarding the
possible application of Sections 1471 through 1474 of the Code to their investment in the Fund.
Other Tax Matters
Certain State and Local Tax Consequences - State and local taxing jurisdictions may impose
income taxes and estate, inheritance and intangible property taxes on income from, or an
investment in, the Fund. These tax laws may differ substantially from the U.S. federal tax laws.
As a result of participating in the Fund, a Partner may be required to file tax returns with, and
pay taxes to, any state or local jurisdiction in which the Fund does business (or is deemed to do
business from investing a portion of its commitments in operating businesses treated as tax
transparent for U.S. federal income tax purposes). A Partner’s distributive share of the Fund’s
taxable income, gain, loss, deduction and credit is normally included in the income reported to
the state and local jurisdiction(s) in which the Partner is a resident or does business. Investors
should consult their own tax advisors about state and local taxes.
Basis for Description of Tax Consequences - The description of U.S. tax consequences set forth
above is based on the provisions of the principal agreements relating to the Fund that the
General Partner expects will be adopted, existing provisions of the Code, existing and proposed
U.S. Treasury Regulations, existing administrative interpretations and court decisions, and
certain assumptions. Future legislation, U.S. Treasury Regulations, administrative
interpretations or court decisions could significantly change these authorities. Any such change
could have retroactive application and therefore could apply to transactions that have taken
place before such change occurs. In addition, some of the issues discussed above have not been
addressed by administrative authorities or resolved by the courts. Accordingly, no assurance
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can be given that the IRS will agree with the description of the U.S. federal income tax
consequences described above. No rulings have been or will be requested from the IRS.
Furthermore, any changes in the principal agreements relating to the Fund or the operations of
the Fund could affect the tax consequences described above.
Consultation with Tax Advisors - The description of U.S. tax matters set forth above is not
intended as a substitute for careful tax planning. It does not address all of the U.S. federal
income tax consequences to investors in the Fund, and does not address any of the foreign,
state, local, estate or other tax consequences of such investment to any investor, except as
otherwise specifically provided. Each prospective investor in the Fund is solely responsible for
all tax consequences to that person or entity of an investment in the Fund. Each prospective
investor is advised to consult its own tax counsel as to the U.S. federal income tax consequences
attributable to acquiring, holding and disposing of an Limited Partner Interest and as to
applicable foreign, state, local, estate or other taxes. The effect of existing U.S. income tax laws
and treaties, the tax laws of other jurisdictions to which an investor may be subject, and possible
changes in such laws and treaties (including proposed changes which have not yet been
adopted) will vary with the particular circumstances of each investor.
CERTAIN ERISA CONSIDERATIONS
ERISA governs the investment of assets of ERISA Plans that may be investors, directly or
indirectly, in the Fund. ERISA, the regulations under ERISA issued by the United States
Department of Labor (the “DOL”) and opinions and other authority issued by the DOL and the
courts provide guidance that should be considered by fiduciaries of ERISA Plans prior to
investing in the Fund.
The following discussion of certain ERISA considerations is based on statutory authority and
judicial and administrative interpretations as of the date hereof and is designed only to provide
a general understanding of the basic issues. Accordingly, this discussion should not be
considered legal advice and the trustees and other fiduciaries of each ERISA Plan are
encouraged to consult their own legal advisors on these matters.
Fiduciary Duty of Investing Plans
A fiduciary considering investing assets of an Employee Plan (“plan assets”) in the Fund should
consult its legal adviser before making such an investment. Before authorizing an investment in
the Fund, any such fiduciary should, after considering the Employee Plan’s particular
circumstances, be satisfied that the investment of such plan assets in the Fund is appropriate
under the fiduciary standards of ERISA, including standards with respect to prudence,
diversification and compliance with the governing documents of the Employee Plan and its
related trust and the prohibited transaction provisions of ERISA and the Code.
Plan Assets
ERISA and the regulation issued by the DOL at 29 C.F.R. § 2510.3-101, as modified or deemed to
be modified by ERISA (the “Plan Assets Regulation”), define the term “plan assets” as applied
to entities in which a plan invests, directly or indirectly, such as the Fund. The Plan Assets
Regulation provides that when an ERISA Plan acquires an equity interest in an entity, and such
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equity interest is neither a publicly offered security nor a security issued by an investment
company registered under the Investment Company Act, the assets of the ERISA Plan include
not only the equity interest, but also include an undivided interest in the underlying assets of
the entity, unless an exception to this general rule applies.
Exceptions Under the Plan Assets Regulation
The Plan Assets Regulation provides several exceptions to the general rule of plan asset
treatment. Pursuant to one such exception, the assets of certain entities, such as the Fund, will
not be treated as plan assets if the entity is operated as a “venture capital operating company”
within the meaning of the Plan Assets Regulation (“VCOC”). Generally, for an entity to qualify
as a VCOC, at least fifty percent (50%) of its assets (excluding short-term investments made
pending long-term commitments or distribution to investors) valued at cost must be invested in
(a) “operating companies” with respect to which the entity has the direct contractual right to
participate substantially in, or to substantially influence the conduct of, the management of the
operating company and the entity must actually exercise such management rights with respect
to one or more such operating companies in the ordinary course of its business, or (b)
“derivative investments” (as defined in the Plan Assets Regulation) (the “Asset Test”). For the
purposes of qualifying as a VCOC, an “operating company” is defined as an entity that is
primarily engaged, directly or through a majority owned subsidiary or subsidiaries, in the
production or sale of a product or service other than the investment of capital, and includes a
“real estate operating company” as defined in the Plan Assets Regulation (but does not include
another VCOC). Determination as to whether an entity qualifies as a VCOC is made at the time
when the entity makes its first long-term investment (other than short-term investments made
pending long-term commitments) and thereafter during a ninety-day annual valuation period
each year, the first day of which shall begin no later than the anniversary of the entity’s first
long-term investment. In order for an entity to continue to qualify as a VCOC, the entity must
meet the Asset Test on at least one day during each such ninety-day annual valuation period.
Special rules apply to any wind-up of a VCOC when it enters its “distribution period” as
defined in the Plan Assets Regulation.
An additional exception applies when equity participation in the entity by benefit plan
investors is not “significant.” Equity participation in an entity by “benefit plan investors” (as
defined in Section 3(42) of ERISA) is “significant” on any date if, immediately after the most
recent acquisition or disposition of any equity interest in the entity, 25% or more of the value (in
the aggregate) of any class of equity interests in the entity is held by “benefit plan investors.”
For purposes of the 25% test, the term “benefit plan investors” includes ERISA Plans, certain
other retirement plans defined in and subject to Section 4975 of the Code (such as individual
retirement accounts), and entities or accounts deemed to hold “plan assets” due to an
investment in such entity or account by ERISA Plans or such other retirement plans (such as
insurance company general accounts). For the purposes of calculating the 25% threshold under
the Plan Assets Regulation, the value of any equity interest held by a person (other than a
“benefit plan investor”) who has discretionary authority or control with respect to the assets of
the entity or that provides investment advice for a fee (direct or indirect) with respect to such
assets (or an affiliate of such person) is disregarded.
The General Partner will use reasonable best efforts to conduct the affairs and operations of the
Fund in such a manner so that the assets of the Fund will not be treated as “plan assets” of any
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ERISA Plan for purposes of ERISA. In particular, the General Partner will use reasonable best
efforts to either (i) limit investment in the Fund by “benefit plan investors” to a level that would
not be considered “significant” under ERISA, or (ii) operate the Fund as a VCOC, or (iii) operate
the Fund in compliance with any other then-available exception to the general rule of plan asset
treatment. The General Partner has the authority to require a Limited Partner to withdraw from
the Fund (in whole or in part) where the General Partner determines that such withdrawal is
necessary to avoid having the Fund’s assets deemed to be “plan assets” subject to ERISA or
Section 4975 of the Code. Accordingly, the Fund is not expected to be deemed to be holding
“plan assets” subject to ERISA at any time.
Reporting
Benefit plan investors may be required to report certain compensation paid by the Fund (or by
third parties) to the Fund’s service providers as “reportable indirect compensation” on Schedule
C to the Form 5500 Annual Return (the “Form 5500”). To the extent any compensation
arrangements described herein constitute reportable indirect compensation, any such
descriptions are intended to satisfy the disclosure requirements for the alternative reporting
option for “eligible indirect compensation,” as defined for purposes of Schedule C to the Form
5500.
Additional Information
ERISA and its accompanying regulations are complex and, to a great extent, have not yet been
interpreted by the courts or the administrative agencies. This discussion does not purport to
constitute a thorough analysis of ERISA. Each prospective investor subject to ERISA should
consult with its own legal counsel concerning the implications under ERISA of an investment in
the Fund, and to confirm that such an investment will not constitute or result in a non-exempt
prohibited transaction or any other violation of an applicable requirement under ERISA.
“Governmental plans” and certain “church plans”, while not subject to the fiduciary
responsibility and prohibited transaction provisions of ERISA, may nevertheless be subject to
state or other federal laws that are substantially similar to the foregoing provisions of ERISA.
Decision-makers for any such plans should consult with their counsel before making an
investment in the Fund.
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XI. CERTAIN LEGAL & REGULATORY CONSIDERATIONS
Securities Act of 1933
The Limited Partner Interests described herein will not be registered under the Securities Act in
reliance upon the exemptions for transactions not involving a public offering. Each investor
will be required to make certain representations to the Fund, including that such investor is an
“accredited investor” within the meaning of Rule 501(a) under the Securities Act, that it is
acquiring a Limited Partner Interest in the Fund for its own account, for investment purposes
only and not with a view to resale or distribution, that it has received or has had access to all
information it deems relevant to evaluate the merits and risks of an investment in the Fund and
that it has the ability to bear the economic risk of an investment in the Fund. The Limited
Partner Interests described herein will constitute “restricted securities” under the Securities Act
and as such will be subject to certain restrictions on transferability. The Limited Partner
Interests may not be transferred or sold unless the Limited Partner Interests have been
registered under the Securities Act or an exemption from registration is available. It is not
contemplated that registration under the Securities Act or other securities laws will ever be
effected. The Limited Partner Interests are subject to further restrictions on transfer as
described in the Partnership Agreement.
This Memorandum is not a public offering “prospectus” and does not purport to describe or
otherwise address all material considerations relating to an investment in the Fund. Prior to
making an investment, prospective investors and their advisors are invited to ask questions of,
and obtain additional information from, the General Partner concerning the Limited Partner
Interests described herein, the terms and conditions of the offering and any other relevant
matters. Such information will be provided to the extent the General Partner possesses such
information or can acquire it without unreasonable effort or expense.
Any subscription is subject to a determination by counsel to the Fund that the subscription is in
compliance with applicable federal and state laws and regulations.
Investment Company Act of 1940
The Fund will not be registered as an investment company under the Investment Company Act
pursuant to an exemption set forth in Section 3(c)(1) and/or Section 3(c)(7) of the Investment
Company Act. The Fund will obtain appropriate representations and undertakings from all
purchasers of Limited Partner Interests, including restrictions on transfer, to ensure that such
purchasers meet the conditions of the exemption. Section 3(c)(7) of the Investment Company
Act requires that each prospective purchaser be a “qualified purchaser” within the meaning of
Section 2(a)(51) of the Investment Company Act. Information with respect to such requirements
for “qualified purchaser” status will be included in the Fund’s Subscription Agreement. The
General Partner is not registered as a broker-dealer under the Exchange Act, or with the NASD,
and is consequently not subject to certain record keeping and specific business practice
provisions of the Exchange Act and the rules of the NASD.
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Investment Advisers Act of 1940
Neither the Management Company nor the General Partner is currently registered as an
investment adviser under the Advisers Act. By virtue of being exempt from the registration
requirements of the Advisers Act, the Management Company and the General Partner are not
subject to the performance fee restrictions and certain other restrictions contained in the
Advisers Act, and the investors in the Fund will not be afforded the protections provided under
the Advisers Act to clients of advisors that are registered under the Advisers Act. The General
Partner, the Management Company or an affiliate thereof may in the future register as an
investment adviser under the Advisers Act to the extent required under the Advisers Act.
To the maximum extent permitted by applicable law, the General Partner and the Partnership
(together with their respective related persons) hereby disclaim any duties, obligations, or
status as an advisor, finder, agent, broker or dealer on behalf or in respect of any person in
connection with such person’s actual or proposed investment in the Partnership.
Compliance With Anti-Money Laundering Requirements
In response to increased regulatory requirements with respect to the sources of funds used in
investments and other activities, the General Partner may require prospective investors to
provide documentation verifying, among other things, such investor’s (and any of its beneficial
owners’) identities and source of funds used to purchase its Limited Partner Interest in the
Fund. The General Partner may decline to accept a subscription if this information is not
provided or on the basis of such information that is provided.
Each prospective investor and Limited Partner will be required to make representations that
such prospective investor or Limited Partner is not a prohibited country, territory, individual or
entity listed on the U.S. Department of Treasury Office of Foreign Assets Control (“OFAC”)
website and that it is not directly or indirectly affiliated with any country, territory, individual
or entity named on an OFAC list or prohibited by any OFAC sanctions programs. Such
prospective investor or Limited Partner will also represent that amounts contributed by it to the
Fund were not directly or indirectly derived from activities that may contravene U.S. Federal,
state or international laws and regulations, including, without limitation, anti-money
laundering laws and regulations.
Requests for documentation and additional information may be made at any time during which
an investor holds a Limited Partner Interest in the Fund. The General Partner will take such
steps as it determines are necessary to comply with applicable law, regulations, orders,
directives or special measures to implement anti-money laundering laws, which steps may
include the forced sale or withdrawal of an Interest. In addition, the Fund could be required to
disclose information pertaining to prospective investors subscribing for an interest to
governmental, regulatory or other authorities or to financial intermediaries or engage in due
diligence or take other related actions in the future.
Pay-to-Play Laws, Regulations and Policies
In light of recent scandals involving money managers, a number of states and municipal
pension plans have adopted so-called “pay-to-play” laws, regulations or policies which
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prohibit, restrict or require disclosure of payments to (and/or certain contacts with) state
officials by individuals and entities seeking to do business with state entities, including
investments by public retirement funds. The SEC also has recently adopted rules that, among
other things, prohibit an investment adviser from providing advisory services for compensation
with respect to a government plan investor for two years after the adviser or certain of its
executives or employees make a contribution to certain elected officials or candidates. If the
Management Company, the General Partner, their employees or affiliates fail to comply with
such pay-to-play laws, regulations or policies, such non-compliance could have an adverse
effect on the Fund by, for example, providing the basis for the withdrawal of the affected
government plan investor.
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XII. ADDITIONAL INFORMATION
Legal Counsel
Proskauer Rose LLP (“Proskauer Rose”) acts as counsel to the Fund, the General Partner and
the Management Company in connection with the organization of the Fund and the offering of
Limited Partner Interests therein. Proskauer Rose also acts as counsel to the Fund, the General
Partner, the Management Company and their affiliates in connection with investments and
ongoing operations of the Fund and other matters. In connection with the offering of Limited
Partner Interests and subsequent advice to the Fund, the General Partner, the Management
Company and their affiliates, Proskauer Rose will not be representing the Limited Partners of
the Fund. No independent counsel has been retained to represent the Limited Partners of the
Fund. Investors are advised to seek their own counsel in connection with a prospective
investment in the Fund.
Accounting and Reporting
KPMG LLP, independent certified public accountants, will report upon the financial statements
of the Fund for each fiscal year.
Availability of Principal Agreements
Prior to the consummation of the offering, the Fund will provide to each prospective investor
and such investors’ representatives and advisers, the opportunity to ask questions regarding the
terms and conditions of this offering and to obtain any additional information required. Any
questions or requests for information should be directed to Ron Hunt, New Leaf Venture
Partners, L.L.C., Times Square Tower, 7 Times Square, Suite 3502, New York, New York 10036
(T: 646-871-6400).
No other persons have been authorized to give information or to make any representations
concerning this offering, and if given or made, such other information or representations must
not be relied upon as having been authorized by the Fund.
Copies of the Partnership Agreement and Subscription Agreement for the purchase of Limited
Partner Interests will be made available upon request.
Prospective investors are urged to request any additional information they may consider
necessary in making an informed investment decision. During the course of the transaction and
prior to sale, each purchaser of a Limited Partner Interest is invited to ask questions of the Fund
Managers concerning the terms and conditions of the offering and to obtain any additional
information necessary or to verify the accuracy of the information furnished in the
Memorandum.
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XIII. APPENDICES
Appendix 1
Listing of Investments by Fund
New Leaf Ventures II, L.P.
$ amounts in millions, as of March 31, 2014
Please refer to Endnotes I,J,K,L,M and N in this Appendix.
Gross
Multiple
(Realized
Portion)
Gross
Multiple
(Total)
Vintage
Year Total Cost
Realized
Value
Unrealized
Value
Total
Value
Company
Sector
Gross IRR
Realized or Partially Realized Investments
Acadia Phamaceuticals, Inc. Therapeutics 2012 $ 7.7 $ 19.4 $ - $ 19.4 2.51 2.51 581.9%
Ambit Biosciences, Inc. Therapeutics 2013 $ 10.4 $ 11.1 $ - $ 11.1 1.06 1.06 13.1%
Array Biopharma Inc. Therapeutics 2012 $ 9.0 $ 20.3 $ - $ 20.3 2.25 2.25 74.0%
Audax Health Solutions, Inc. Convergence 2011 $ 3.8 $ 12.5 $ 1.6 $ 14.1 - 3.68 105.6%
Chimerix, Inc. Therapeutics 2011 $ 20.6 $ 27.0 $ 44.9 $ 71.9 3.07 3.50 57.7%
Epizyme, Inc. Therapeutics 2013 $ 3.4 $ 6.8 $ - $ 6.8 2.03 2.03 1583.0%
Glumetrics, Inc. Diagnostics & Infrastructure 2008 $ 10.7 $ - $ - $ -
- - NM
Intercept Pharmaceuticals, Inc. Therapeutics 2012 $ 10.5 $ 34.1 $ - $ 34.1 3.24 3.24 323.6%
Kalidex Pharmaceuticals, Inc. Therapeutics 2011 $ 2.4 $ 0.2 $ - $ 0.2 0.07 0.07 -91.6%
MEI Pharma, Inc. Therapeutics 2012 $ 9.0 $ 10.2 $ 35.8 $ 46.0 2.94 5.12 423.2%
Presidio Pharmaceuticals, Inc. Therapeutics 2009 $ 11.0 $ - $ - $ -
- - NM
Synageva BioPharma Therapeutics 2009 $ 10.4 $ 75.7 $ - $ 75.7 7.30 7.30 103.3%
Worldheart, Inc. Healthcare Devices 2008 $ 17.0 $ 1.8 $ - $ 1.8 0.11 0.11 NM
Total Realized or Partially Realized Investments $ 125.9 $ 219.2 $ 82.3 $ 301.5 2.01 2.39 40.6%
Advanced Cell Diagnostics, Inc. Diagnostics & Infrastructure 2012 $ 9.0 $ - $ 9.0 $ 9.0 - 1.00 -0.4%
Afferent Pharmaceuticals, Inc. Therapeutics 2009 $ 11.2 $ - $ 11.2 $ 11.2 - 1.00 0.0%
Altura Medical, Inc. Healthcare Devices 2010 $ 10.7 $ - $ 8.3 $ 8.3 - 0.77 -12.3%
AwarePoint Corporation Convergence 2011 $ 12.8 $ - $ 14.1 $ 14.1 - 1.10 5.7%
Calchan Holdings LTD Therapeutics 2011 $ 5.2 $ - $ - $ -
- - NM
CardioKinetix, Inc. Healthcare Devices 2011 $ 12.0 $ - $ 12.0 $ 12.0 - 1.00 0.0%
Convergence Pharmaceuticals, Ltd Therapeutics 2010 $ 7.4 $ - $ 7.6 $ 7.6 - 1.03 1.0%
Durata Therapeutics, Inc. Therapeutics 2009 $ 25.0 $ - $ 40.8 $ 40.8 - 1.63 21.2%
iRhythm Technologies, Inc. Convergence 2011 $ 11.1 $ - $ 11.6 $ 11.6 - 1.04 1.6%
Karos Pharmaceuticals, Inc. Therapeutics 2010 $ 7.6 $ 0.1 $ 7.5 $ 7.6 - 1.00 0.0%
Karus Therapeutics Ltd Therapeutics 2012 $ 5.8 $ - $ 5.8 $ 5.8 - 1.00 0.0%
Karyopharm Therapeutics, Inc. Therapeutics 2013 $ 1.0 $ - $ 4.2 $ 4.2 - 4.17 1638.7%
Kitcheck, Inc. Convergence 2013 $ 3.7 $ - $ 3.7 $ 3.7 - 1.00 0.0%
Neuronetics, Inc. Healthcare Devices 2009 $ 20.3 $ - $ 21.9 $ 21.9 - 1.08 2.0%
NY Digital Health, LLC Convergence 2012 $ 0.4 $ - $ 0.4 $ 0.4 - 1.00 0.1%
Oxford Immunotec Diagnostics & Infrastructure 2009 $ 11.3 $ - $ 27.1 $ 27.1 - 2.41 28.3%
Principia BioPharma, Inc. Therapeutics 2011 $ 9.7 $ - $ 9.7 $ 9.7 - 1.00 0.0%
Spiracur, Inc Healthcare Devices 2009 $ 12.0 $ - $ 8.5 $ 8.5 - 0.70 -8.4%
TigerText, Inc. Convergence 2012 $ 4.6 $ 0.0 $ 5.6 $ 5.7 - 1.25 22.6%
Treato Pharma Convergence 2013 $ 3.0 $ - $ 3.0 $ 3.0 - 1.00 0.0%
Truveris, Inc. Convergence 2012 $ 6.5 $ - $ 6.5 $ 6.5 - 1.00 0.0%
Versartis, Inc. Therapeutics 2011 $ 21.2 $ - $ 93.6 $ 93.6 - 4.41 129.4%
Public Investments Therapeutics 2011 $ 20.6 $ 13.1 $ 29.5 $ 42.6 - 2.07 42.5%
Total Unrealized Investments $ 232.1 $ 13.2 $ 341.4 $ 354.6 - 1.53 20.4%
Total New Leaf Ventures II, L.P. Investments $ 358.0 $ 232.4 $ 423.7 $ 656.1 2.01 1.83 29.6%
89
CONTROL NUMBER 257 - CONFIDENTIAL
New Leaf Ventures I, L.P.
$ amounts in millions, as of March 31, 2014
Please refer to Endnotes I,J,K,L,M and N in this Appendix.
Gross
Multiple
Gross
Vintage
Realized
Unrealized
Total
(Realized
Multiple
Company
Sector
Year Total Cost
Value
Value
Value
Portion)
(Total)
Gross IRR
Realized or Partially Realized Investments
Aesthetic Sciences Corporation Healthcare Devices 2006 $ 4.1 $ - $ - $ -
- - NM
Artisan Pharma, Inc. Therapeutics 2006 $ 10.8 $ - $ - $ -
- - NM
Aviir, Inc. Diagnostics & Infrastructure 2007 $ 16.3 $ 0.9 $ - $ 0.9 0.05 0.05 NM
Barrier Therapeutics, Inc. Therapeutics 2006 $ 8.2 $ 6.4 $ - $ 6.4 0.78 0.78 -11.8%
BioRelix, Inc. Therapeutics 2007 $ 6.3 $ - $ - $ -
- - NM
Cerexa, Inc. Therapeutics 2005 $ 8.0 $ 43.4 $ - $ 43.4 5.42 5.42 197.3%
CN Therapeutics, Inc. Therapeutics 2006 $ 0.1 $ - $ - $ -
- - NM
Interlace Medical, Inc. Healthcare Devices 2005 $ 7.8 $ 67.3 $ 0.1 $ 67.4 8.62 8.64 84.4%
Oriel Therapeutics, Inc. Therapeutics 2007 $ 11.1 $ 18.8 $ 12.2 $ 31.0 1.70 2.80 49.9%
Pearl Therapeutics, Inc. Therapeutics 2007 $ 28.9 $ 72.3 $ 17.3 $ 89.6 2.50 3.10 33.1%
Proteogenix, Inc. Diagnostics & Infrastructure 2007 $ 9.4 $ 0.8 $ - $ 0.8 0.08 0.08 NM
Stromedix, Inc. Therapeutics 2008 $ 10.7 $ 19.2 $ 22.5 $ 41.7 1.79 3.89 42.0%
Transcept Pharmaceuticals, Inc Therapeutics 2005 $ 15.6 $ 7.1 $ - $ 7.1 0.46 0.46 -11.5%
Total Realized or Partially Realized Investments $ 13.7 $ 236.2 $ 52.1 $ 288.3 1.72 2.10 27.5%
Unrealized Investments
Access Closure, Inc. Healthcare Devices 2006 $ 24.7 $ - $ 35.4 $ 35.4 - 1.43 6.1%
Concert Pharmaceuticals, Inc. Therapeutics 2006 $ 6.2 $ - $ 6.8 $ 6.8 - 1.11 1.5%
Direct Flow Medical, Inc. Healthcare Devices 2005 $ 13.0 $ - $ 20.2 $ 20.2 - 1.56 7.1%
IlluminOss Medical, Inc. Healthcare Devices 2008 $ 10.1 $ - $ 9.7 $ 9.7 - 0.97 -0.8%
Intarcia Therapeutics, Inc. Therapeutics 2007 $ 36.9 $ - $ 186.9 $ 186.9 - 5.06 39.9%
Relypsa, Inc. Therapeutics 2007 $ 23.7 $ - $ 61.8 $ 61.8 - 2.60 27.5%
ReShape Medical Healthcare Devices 2006 $ 13.6 $ - $ 13.7 $ 13.7 - 1.01 0.2%
Tioga Pharmaceuticals, Inc. Therapeutics 2005 $ 19.6 $ - $ 7.2 $ 7.2 - 0.37 -14.6%
VaxInnate, Inc. Therapeutics 2006 $ 19.4 $ - $ 19.6 $ 19.6 - 1.01 0.2%
Total Unrealized Investments $ 167.2 $ - $ 361.4 $ 361.4 - 2.16 15.2%
Total New Leaf Ventures I, L.P. Investments $ 304.5 $ 236.2 $ 413.5 $ 649.7 1.72 2.13 19.1%
90
CONTROL NUMBER 257 - CONFIDENTIAL
Sprout Capital IX, L.P. (Healthcare Technology Portfolio)
$ amounts in millions, as of March 31, 2014
Please refer to Endnotes I,J,K,L,M and N in this Appendix.
Gross
Multiple
(Realized
Portion)
Gross
Multiple
(Total)
Vintage
Year
Total
Cost
Realized
Value
Unrealized
Value
Total
Value
Company
Sector
Gross IRR
Realized or Partially Realized Investments
Adolor Corporation Therapeutics 2000 $ 29.3 $ 23.5 $ - $ 23.5 0.80 0.80 -4.2%
Affymax, Inc. Therapeutics 2001 $ 37.2 $ 17.9 $ - $ 17.9 0.48 0.48 -11.3%
Aspire Medical Healthcare Devices 2004 $ 7.4 $ 0.6 $ - $ 0.6 0.07 0.07 NM
Aspreva Pharmaceuticals Therapeutics 2004 $ 23.2 $ 151.7 $ - $ 151.7 6.54 6.54 95.4%
Aureon Biosciences, Inc. Diagnostics & Infrastructure 2001 $ 34.1 $ 0.8 $ - $ 0.8 0.02 0.02 NM
Auxilium Pharmaceuticals, Inc. Therapeutics 2003 $ 23.1 $ 106.3 $ - $ 106.3 4.60 4.60 37.4%
Corixa Corporation Therapeutics 2003 $ 42.7 $ 31.1 $ - $ 31.1 0.73 0.73 -13.2%
eHealth, Inc. Convergence 2001 $ 12.1 $ 58.4 $ - $ 58.4 4.83 4.83 26.8%
Epicor Medical, Inc. Healthcare Devices 2001 $ 9.3 $ 41.8 $ - $ 41.8 4.49 4.49 78.7%
ePocrates, Inc. Convergence 2000 $ 17.2 $ 53.2 $ - $ 53.2 3.10 3.10 10.8%
Focus Technologies, Inc. Diagnostics & Infrastructure 2000 $ 32.3 $ 84.1 $ - $ 84.1 2.61 2.61 17.8%
Gryphon Therapeutics Therapeutics 2002 $ 13.3 $ 0.2 $ - $ 0.2 0.01 0.01 -60.7%
Ilypsa, Inc. (fka Symyx) Therapeutics 2003 $ 15.8 $ 109.4 $ - $ 109.4 6.91 6.91 78.0%
ISTA Pharmaceuticals, Inc. Therapeutics 2002 $ 42.9 $ 84.6 $ - $ 84.6 1.97 1.97 10.8%
Kalypsys Therapeutics 2002 $ 27.4 $ 1.1 $ - $ 1.1 0.05 0.04 -29.7%
Lathian Systems, Inc Convergence 2001 $ 7.1 $ 0.0 $ - $ 0.0 0.00 0.00 NM
Metabasis Therapeutics, Inc. Therapeutics 2001 $ 23.8 $ 1.1 $ - $ 1.1 0.05 0.05 NM
NeuroVista Corp. Healthcare Devices 2004 $ 8.8 $ - $ - $ -
- - NM
NxStage Medical, Inc. Healthcare Devices 2001 $ 21.6 $ 45.1 $ - $ 45.1 2.09 2.09 9.4%
Nyco Holdings ApS Therapeutics 2002 $ 47.0 $ 222.8 $ 2.7 $ 225.5 4.74 4.80 33.6%
Pharsight Corporation Convergence 2002 $ 2.8 $ 6.4 $ - $ 6.4 2.31 2.31 16.2%
Phylos, Inc. Therapeutics 2000 $ 10.2 $ - $ - $ -
- - NM
Progen PharmaInc. (Cellgate) Therapeutics 2003 $ 21.4 $ 0.4 $ - $ 0.4 0.02 0.02 -49.9%
Protedyne Corporation Diagnostics & Infrastructure 2001 $ 21.9 $ 3.7 $ - $ 3.7 0.17 0.17 NM
Radiant Medical, Inc. Healthcare Devices 2000 $ 18.6 $ 0.5 $ - $ 0.5 0.02 0.02 NM
Sirna Therapeutics, Inc. Therapeutics 2003 $ 27.2 $ 219.3 $ - $ 219.3 8.06 8.06 91.0%
Spiration, Inc. Healthcare Devices 2002 $ 17.4 $ 14.5 $ - $ 14.5 0.84 0.84 -2.4%
Tolerx, Inc. Therapeutics 2002 $ 11.0 $ 1.5 $ - $ 1.5 0.14 0.14 -23.0%
Triple Point Healthcare Devices 2004 $ 0.3 $ 0.1 $ - $ 0.1 0.28 0.28 -48.3%
VascA, Inc. Healthcare Devices 2001 $ 12.8 $ 0.4 $ - $ 0.4 0.03 0.03 NM
Visiogen, Inc. Healthcare Devices 2001 $ 17.9 $ 90.0 $ - $ 90.0 5.04 5.04 35.4%
VNUS Medical Technologies, Inc. Healthcare Devices 2001 $ 8.0 $ 22.1 $ - $ 22.1 2.76 2.76 15.4%
Total Realized or Partially Realized Investments $ 645.0 $ 1,392.4 $ 2.7 $ 1,395.1 2.18 2.16 16.8%
Unrealized Investments
Expression Diagnostics (XDx) Diagnostics & Infrastructure 2004 $ 16.6 $ 0.0 $ 3.8 $ 3.8 NA 0.23 -19.4%
Intrinsic Therapeutics, Inc. Healthcare Devices 2002 $ 26.6 $ 0.0 $ - $ 0.0 NA 0.00 NM
Labcyte, Inc. (fka Picoliter) Diagnostics & Infrastructure 2002 $ 10.0 $ - $ 10.6 $ 10.6 NA 1.06 0.5%
Relypsa, Inc. Therapeutics 2007 $ 20.3 $ 0.0 $ 50.4 $ 50.4 NA 2.49 23.9%
Sopherion Therapeutics, Inc. Therapeutics 2004 $ 15.1 $ - $ 0.0 $ 0.0 NA 0.00 NM
Spinewave Healthcare Devices 2004 $ 10.5 $ - $ 3.7 $ 3.7 NA 0.35 -11.9%
Total Unrealized Investments $ 99.1 $ 0.0 $ 68.4 $ 68.4 - 0.69 -5.0%
Total Sprout Capital IX, L.P. (HCT) Investments $ 744.1 $ 1,392.4 $ 71.1 $ 1,463.6 2.18 1.97 14.8%
91
CONTROL NUMBER 257 - CONFIDENTIAL
Sprout Capital VIII, L.P. (Healthcare Technology Portfolio)
$ amounts in millions, as of March 31, 2014
Please refer to Endnotes I,J,K,L,M and N in this Appendix.
Company
Sector
Vintage
Year
Total
Cost
Realized
Value
Unrealize
d Value
Total
Value
Gross
Multiple
(Realized
Portion)
Gross
Multiple
(Total)
Gross IRR
All Investments
Allos Therapeutics, Inc. Therapeutics 1998 $ 3.5 $ 9.8 $ - $ 9.8 2.83 2.83 47.6%
AviaHealth, Inc. (fka GoToMyDoc) Convergence 2000 $ 2.0 $ 0.0 $ - $ 0.0 0.02 0.02 -92.8%
Cephalon, Inc. Therapeutics 1999 $ 5.1 $ 25.6 $ - $ 25.6 5.01 5.01 293.2%
Charles River Laboratories Diagnostics & Infrastructure 1999 $ 4.3 $ 22.7 $ - $ 22.7 5.23 5.23 121.6%
Deltagen, Inc. Therapeutics 1998 $ 19.9 $ 4.1 $ - $ 4.1 0.20 0.20 -30.3%
eHealth, Inc. Convergence 1999 $ 11.3 $ 20.3 $ - $ 20.3 1.80 1.80 7.7%
Gantech International, Inc. Therapeutics 1999 $ 2.8 $ - $ - $ -
- - NM
Keravision Inc. Healthcare Devices 1998 $ 10.2 $ - $ - $ -
- - NM
Microban International, Ltd. Diagnostics & Infrastructure 1999 $ 14.8 $ 39.7 $ - $ 39.7 2.68 2.68 14.5%
Nuvelo, Inc. (fka Variagenics, Inc.) Therapeutics 1999 $ 11.8 $ 24.8 $ - $ 24.8 2.10 2.10 13.9%
NxStage Medical, Inc. Healthcare Devices 1999 $ 17.8 $ 50.3 $ - $ 50.3 2.83 2.83 14.2%
Phase Forward Incorporated Convergence 1998 $ 9.0 $ 38.6 $ - $ 38.6 4.31 4.31 22.4%
SGX, Inc. Therapeutics 2000 $ 15.0 $ 1.6 $ - $ 1.6 0.11 0.11 -35.3%
Skila, Inc. Convergence 1998 $ 9.0 $ 0.0 $ - $ 0.0 0.00 0.00 NM
Spotfire, Inc. Convergence 1999 $ 9.9 $ 24.8 $ - $ 24.8 2.50 2.50 12.7%
VascA, Inc. Healthcare Devices 1999 $ 7.3 $ 0.1 $ - $ 0.1 0.02 0.02 NM
VNUS Medical Technologies, Inc. Healthcare Devices 1999 $ 3.8 $ 11.1 $ - $ 11.1 2.90 2.90 12.7%
Total Sprout Capital VIII, L.P. (HCT) Investments $ 157.5 $ 273.7 $ - $ 273.7 1.74 1.74 10.1%
92
CONTROL NUMBER 257 - CONFIDENTIAL
Sprout Capital VII, L.P. (Healthcare Technology Portfolio)
$ amounts in millions, as of March 31, 2014
Please refer to Endnotes I,J,K,L,M and N in this Appendix.
Gross
Multiple
Gross
Vintage
Total
Realized
Unrealize
Total
(Realized
Multiple
Company
Sector
Year
Cost
Value
d Value
Value
Portion)
(Total)
Gross IRR
All Investments
Adeza Biomedical Corporation Diagnostics & Infrastructure 1996 $ 4.8 $ 27.7 $ - $ 27.7 5.75 5.75 20.1%
Allos Therapeutics, Inc. Therapeutics 1998 $ 2.6 $ 7.5 $ - $ 7.5 2.87 2.87 38.8%
Aradigm Corporation Therapeutics 1994 $ 2.8 $ 15.3 $ - $ 15.3 5.45 5.45 39.3%
AtheroGenics, Inc. Therapeutics 1996 $ 3.8 $ 7.1 $ - $ 7.1 1.87 1.87 13.7%
AviaHealth, Inc. (fka GoToMyDoc) Convergence 2000 $ 1.6 $ 0.0 $ - $ 0.0 0.02 0.02 -92.8%
CombiChem, Inc. Therapeutics 1995 $ 3.9 $ 9.4 $ - $ 9.4 2.43 2.43 26.5%
Connetics Corp. (fka Connective) Therapeutics 1995 $ 6.3 $ 14.2 $ - $ 14.2 2.24 2.24 15.5%
FemRX Healthcare Devices 1995 $ 2.2 $ 3.2 $ - $ 3.2 1.47 1.47 11.6%
Healtheon/WebMD (Sapient) Convergence 1996 $ 3.0 $ 39.8 $ - $ 39.8 13.42 13.42 190.1%
Hearten Medical Healthcare Devices 1997 $ 1.7 $ - $ - $ -
- - NM
IntraBiotics Pharmaceuticals Therapeutics 1994 $ 3.9 $ 7.3 $ - $ 7.3 1.89 1.89 13.4%
Lynx Therapeutics, Inc. Diagnostics & Infrastructure 1995 $ 1.1 $ 2.9 $ - $ 2.9 2.72 2.72 25.4%
NxStage Medical, Inc. Healthcare Devices 2003 $ 3.3 $ 18.9 $ - $ 18.9 5.80 5.80 20.9%
Orquest, Inc. Healthcare Devices 1995 $ 5.5 $ 7.8 $ - $ 7.8 1.42 1.42 6.1%
Pathology Partners Diagnostics & Infrastructure 1997 $ 3.3 $ 22.4 $ - $ 22.4 6.82 6.82 38.2%
Pharsight Corporation Convergence 1997 $ 4.9 $ 7.3 $ - $ 7.3 1.48 1.48 6.0%
Point Biomedical Diagnostics & Infrastructure 1997 $ 9.2 $ 0.0 $ - $ 0.0 0.00 0.00 NM
Prometheus Laboratories, Inc. Therapeutics 1998 $ 7.8 $ 38.8 $ - $ 38.8 5.00 5.00 13.4%
Salient Interventional Systems Healthcare Devices 1998 $ 2.7 $ 0.0 $ - $ 0.0 0.00 0.00 NM
Skila, Inc. Convergence 1998 $ 5.2 $ 0.2 $ - $ 0.2 0.05 0.05 NM
TriPath Imaging, Inc. Diagnostics & Infrastructure 1996 $ 4.9 $ 13.9 $ - $ 13.9 2.83 2.83 17.2%
VascA, Inc. Healthcare Devices 1996 $ 6.5 $ 0.1 $ - $ 0.1 0.02 0.02 NM
VNUS Medical Technologies, Inc. Healthcare Devices 1997 $ 4.3 $ 15.7 $ - $ 15.7 3.66 3.66 12.1%
Xcyte Therapies, Inc. (CDR) Therapeutics 1996 $ 6.1 $ 0.5 $ - $ 0.5 0.08 0.08 -33.6%
Total Sprout Capital VII, L.P. (HCT) Investments $ 101.2 $ 260.0 $ - $ 260.0 2.57 2.57 18.6%
Sprout Growth II, L.P. (Healthcare Technology Portfolio)
$ amounts in millions, as of March 31, 2014
Please refer to Endnotes I,J,K,L,M and N in this Appendix.
Gross
Multiple
Gross
Vintage
Total
Realized
Unrealize
Total
(Realized
Multiple
Company
Sector
Year
Cost
Value
d Value
Value
Portion)
(Total)
Gross IRR
All Investments
Adeza Biomedical Corporation Diagnostics & Infrastructure 1996 $ 3.9 $ 22.7 $ - $ 22.7 5.75 5.75 20.1%
AviaHealth, Inc. (fka GoToMyDoc) Convergence 2000 $ 1.3 $ 0.0 $ - $ 0.0 0.02 0.02 -92.8%
Cephalon, Inc. Therapeutics 1999 $ 4.1 $ 20.5 $ - $ 20.5 5.01 5.01 293.2%
Connetics Corp. (fka Connective) Therapeutics 1997 $ 3.2 $ 6.5 $ - $ 6.5 2.05 2.05 16.7%
IVAC Holdings, Inc. Healthcare Devices 1995 $ 0.9 $ 3.0 $ - $ 3.0 3.31 3.31 121.9%
Pathology Partners Diagnostics & Infrastructure 1997 $ 2.7 $ 18.3 $ - $ 18.3 6.82 6.82 38.1%
Total Sprout Growth II, L.P. (HCT) Investments $ 16.1 $ 70.9 $ - $ 70.9 4.42 4.42 43.8%
93
CONTROL NUMBER 257 - CONFIDENTIAL
Appendix 2
All Funds Gross and Net Returns
$ amounts in millions, as of March 31, 2014
Gross Basis
Gross Cost and Value Gross Multiple Gross IRR
Total Cost Total Realized Unrealized Realized Overall Realized Overall
New Leaf Ventures II, L.P. (2008) $358.0 $656.1 $232.4 $423.7 2.01x 1.83x 33.3% 29.6%
New Leaf Ventures I, L.P. (2005) $304.5 $649.7 $236.2 $413.5 1.72x 2.13x 22.9% 19.1%
Sprout Capital IX, L.P. (2000) (Healthcare Technology) $744.1 $1,463.6 $1,392.4 $71.1 2.18x 1.97x 16.8% 14.8%
Sprout Capital VIII, L.P. (1998) (Healthcare Technology) $157.5 $273.7 $273.7 $0.0 1.74x 1.74x 10.1% 10.1%
Sprout Capital VII, L.P. (1995) (Healthcare Technology) $101.2 $260.0 $260.0 $0.0 2.57x 2.57x 18.6% 18.6%
Sprout Growth II, L.P. (1995) (Healthcare Technology) $16.1 $70.9 $70.9 $0.0 4.42x 4.42x 43.8% 43.8%
Net Basis
Net Cost and Value
Net Metrics Multiples
Fund Size
Paid-In
Capital
Distributed
Value
Equity In
Fund
Total
Value
Distributed /
Paid In
Total Value /
Paid In
Total Value
IRR
New Leaf Ventures II, L.P. (2008) $450.0 $407.3 $204.2 $386.9 $591.1 0.50x 1.45x 16.7%
New Leaf Ventures I, L.P. (2005) $310.0 $302.6 $154.7 $374.8 $529.5 0.51x 1.75x 12.0%
Sprout Capital IX, L.P. (2000) (Healthcare Technology) $690.0 $690.0 $1,071.5 $71.1 $1,142.7 1.55x 1.66x 9.3%
Sprout Capital VIII, L.P. (1998) (Healthcare Technology) $147.1 $147.1 $218.7 $0.0 $218.7 1.49x 1.49x 6.0%
Sprout Capital VII, L.P. (1995) (Healthcare Technology) $95.2 $95.2 $207.0 $0.0 $207.0 2.17x 2.17x 12.0%
Sprout Growth II, L.P. (1995) (Healthcare Technology) $15.3 $15.3 $56.3 $0.0 $56.3 3.69x 3.69x 28.9%
94
CONTROL NUMBER 257 - CONFIDENTIAL
Methodology Used to Calculate Net Returns Numbers for Sprout Healthcare Technology
Portfolios
Estimated net returns numbers for the managed healthcare portfolio of the Sprout funds are
based on New Leaf’s calculations of synthetic net returns. The synthetic net returns for the
healthcare technology investments in each Sprout Fund are an estimate of what the net returns
would have been for these investments, if they had been managed in a standalone healthcare
technology venture capital fund structure rather than one set of investments as part of a larger,
diversified venture capital fund. The synthetic net returns were computed assuming a fund
size required to fund 100% of the total cost of the healthcare investments in each of the Sprout
funds using both called and recycled capital, a management fee of 2% payable quarterly and a
carried interest. The net return reflects reinvestment of certain proceeds, gains and other
proceeds by the Sprout healthcare portfolio synthetic funds to the extent permitted under the
partnership governing documents. A detailed example of the calculation is below.
Sprout IX: Total actual HCT investments of $740M; 2% management fees,
resulting in $120M of management fees and expenses from inception-to-date;
25% carried interest; Standalone fund size of $690M ($735M investments with
cash recycling of 6%); Total realizations have been $1,375M and total remaining
value is $50M. Assumes $130M in total carried interest to GPs already paid out;
Yields Total Distributed to LPs of $1,075M ($1,375M - $120M fees - $130M carry -
$50M recycling) / $690M = 1.56x; Yields Total Remaining to LPs of $50M /
$690M = 0.07x
95
CONTROL NUMBER 257 - CONFIDENTIAL
Appendix 3
PME+ Methodology
Public Market Equivalent (“PME+”) is used to compare the net performance of each of the
Sprout HC synthetic funds and NLV funds to the performance of a same size, hypothetical
investment in a fund that tracked a public market index. The investments in the hypothetical
public market index funds have identical cash inflow schedules and proportionately
comparable cash outflow schedules. The cash outflow schedules are set so that the remaining
equity value of the public equivalent fund is exactly equal to the remaining equity value of the
benchmarked private equity fund at the end of the benchmarking period. The analysis is
presented to illustrate the comparative returns a limited partner would have generated by
investing in the hypothetical public market index fund at the same time and in the same
amounts as had been invested in each of the NLV or Sprout (HC portion only) synthetic funds.
The NLV or Sprout HC funds are presented as net, which includes the impact of management
fees, expenses, and carried interest. The public market index funds do not have any impact of
fees or carried interest. A more detailed description of the PME+ methodology used is available
in: Rouvinez, Christophe. “Asset Class: Beating the Public Market.” Private Equity
International. January 2003. 26-28
96
CONTROL NUMBER 257 - CONFIDENTIAL
Appendix 5
ENDNOTES
Except as otherwise expressly noted, all performance information contained herein, including
rates of return, is as of March 31, 2014 and is unaudited. The performance information is based
on the cumulative invested capital, cumulative cash dividends and realized and unrealized
sales proceeds in portfolio companies. Where designated as “gross”, the performance
information is presented on a gross basis with regard to expenses and does not reflect
deductions for any management fees, the general partner’s carried interest or other expenses.
Where designated as “net”, the performance information is presented on a net basis after giving
effect to management fees, the general partner’s carried interest and other expenses. Please
refer to Section III: “Summary of Historical Investment Performance” and the endnotes below
for a more detailed description of the performance of the NLV-I, NLV-II and the Sprout Funds.
An investment in the Fund does not represent an interest in any indicated investment or any
investment portfolio of any related or other investment fund, including any investment or fund
managed by the Fund Managers. Disclosure of past performance herein is for informational
purposes only and is not indicative of future results.
A The financial data contained herein relating to the valuations and investment performance of
NLV-I, NLV-II, the Sprout Funds and their investments (including the I.C. portfolio thereof)
are estimates prepared by NLV as of March 31, 2014, and have not been audited. The vintage
year of each fund represents the first year that an investment in a portfolio company was
either committed to or funded. While NLV’s valuations of unrealized investments are based
on assumptions that NLV believes are reasonable under the circumstances, the actual realized
returns on unrealized investments will depend on, among other factors, future operating
results, the value of the assets and market conditions at the time of disposition, any related
transaction costs and the timing and manner of the sale, all of which may differ from the
assumptions on which the valuations used in the prior performance data contained herein are
based. Accordingly, the actual realized returns on these unrealized investments may differ
materially and adversely from the (assumed) returns indicated herein. Past performance is
not indicative of future results. There can be no assurance that the Fund will achieve results
comparable to those shown herein, will be able to avoid losses or will be able to achieve its
investment objectives. Except as specifically noted, all performance information contained
herein is on a “gross” basis before giving effect to management fees, the general partner’s
carried interest, taxes and other expenses, the application of which would reduce such prior
performance and indicated rates of return. Except as otherwise indicated, performance
information is for NLV-I, NLV-II and the Fund Managers’ investments in the Sprout Funds.
While the Fund Managers initiated, led, co-led, managed or were otherwise instrumental in
the identification, negotiation, execution and/or management of these investments (as further
described herein), other individuals, including individuals from Sprout Group with respect to
the Sprout Funds, were involved in and assisted with these investments.
B Rates of return for public indices are provided for informational purposes only and do not
reflect a basis for comparison for venture capital interests, as the market volatility, liquidity
and other characteristics of venture capital investments are materially different from public
indices. The S&P 500 Stock Index is an unmanaged market capitalization of 500 U.S. equities
97
CONTROL NUMBER 257 - CONFIDENTIAL
generally considered to be representative of U.S. stock market activity. The NASDAQ
Composite Index measures all NASDAQ domestic and non-U.S. based common stocks listed
on the NASDAQ Stock Market. The NASDAQ Biotechnology Index includes securities of
NASDAQ-listed companies classified according to the Industry Classification Benchmark as
either Biotechnology or Pharmaceuticals which also meet other eligibility criteria. The Dow
Jones Industrial Average is an index that shows how 30 large, publicly owned companies
based in the U.S. have traded during a standard trading session in the stock market.
C Data provided by Cambridge Associates at no charge. Cambridge U.S. VC healthcare data as
of Q1’13. Where results on the Sprout Funds refer to net basis, it is the result of a
methodology that adjusts the gross results for the healthcare technology investments for
recycling, management fees, and carried interest so they can be compared to industry sources
(e.g., Cambridge Associates) on a directly comparable basis. The methodology and
assumptions used to adjust from gross to net basis is described in Appendix 2.
D The gross annual compound internal rate of return (“IRR”) and gross multiple of invested
capital as of March 31, 2014 are before giving effect to taxes, management fees, the general
partner’s carried interest and other expenses. The net IRR and net multiple of invested capital
as of March 31, 2014 are after giving effect to management fees, the general partner’s carried
interest and other expenses. All IRRs presented are annualized and calculated on the basis of
quarterly inflows and outflows of cash and unrealized values, assuming such inflows and
outflows occurred as of quarter end and all remaining investments were sold at the current
holding value through as of March 31, 2014. There can be no assurance that unrealized
investments will be realized at the valuations shown.
E The results for the Sprout Funds represent results from the healthcare technology portion of
the Sprout Funds, which represents between 8% and 65% of the cost basis of the investments
of the funds taken as a whole. Healthcare technology means, collectively, the
biopharmaceutical, medical device, and diagnostics and infrastructure sectors. See
Appendix 2 for the Methodology Used to Calculate Net Return Numbers for Sprout
Healthcare Technology Portfolios.
F Net Distributed to Paid-in Capital (“DPI”): Calculated based on (1) called capital of a fund
(based on individual called capital percentages and fund sizes across multiple funds) and
(2) distributed capital of a fund (based on aggregating individual funds distributed capital
amounts, as calculated using DPI and called individual fund called amounts). For the
purposes of this ratio for NLV-I and NLV-II, the “deemed contribution” of the general partner
is included in the total amount of capital contributions made by the fund’s partners.
G (Distributed + Public) to Paid-in Capital: Calculated based on (1) called capital of a fund
(based on individual called capital percentages and fund sizes across multiple funds) and
(2) distributed capital of a fund (based on aggregating individual funds distributed capital
amounts, as calculated using DPI and called individual fund called amounts) plus the
unrealized value of publicly traded securities based on the closing market price of the
security. For the purposes of this ratio for NLV-I and NLV-II, the “deemed contribution” of
the general partner is included in the total amount of capital contributions made by the fund’s
partners.
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CONTROL NUMBER 257 - CONFIDENTIAL
H (Distributed + Liquid Public) to Paid-in Capital: Calculated based on (1) called capital of a
fund (based on individual called capital percentages and fund sizes across multiple funds)
and (2) distributed capital of a fund (based on aggregating individual funds distributed
capital amounts, as calculated using DPI and called individual fund called amounts) plus the
unrealized value of freely tradable publicly traded securities based on the closing market
price of the security. This is based on the assumption that NLV can trade out of 10% of daily
trading volume over next 30 days based on last 30 days ADTV.
For the purposes of this ratio for NLV-I and NLV-II, the “deemed contribution” of the general
partner is included in the total amount of capital contributions made by the fund’s partners.
I Realized Cost: Represents the cost of investment attributable to the realized portion of such
investment.
J Total Cost: Represents the overall cost of investment.
K Realized Value: Represents gross proceeds received from the sale of an underlying
investment or group of investments.
L Unrealized Value, Unrealized/(Public) or Unrealized/(Private): All private investments are
fair value as determined in good faith by the General Partner. Fair value is based on the best
information available and is determined by reference to information including, but not limited
to, the following: operating results, financial condition, public or private transactions,
valuations for publicly-traded compatible companies, recent purchases of the same or similar
securities, progress of clinical trials or other operational progress of an investment’s product,
and/or other measures, and consideration of any other pertinent information including the
types of securities held and restrictions on disposition. Public represents a portfolio company
whose securities are traded on a public exchange such as NASDAQ. The unrealized value of
publicly traded securities held shown in parenthesis is valued at the closing market price.
The unrealized value of warrants for any publicly traded companies is valued based on the
Black-Sholes Method.
M Total Value: Represents realized value plus Unrealized Value.
N Multiple: Represents the ratio of Total Value, Realized Value or Unrealized Value to the
corresponding amount of capital invested, expressed as a multiple.
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XIV. CERTAIN OFFERING NOTICES
NOTICE TO RESIDENTS OF FLORIDA
The Interests being offered have not been registered with the Florida Division of Securities. If sales are made to five
or more Florida purchasers, each sale is voidable by the purchaser within three days after the first tender of
consideration is made by such purchaser to the issuer, an agent of the issuer or within three days after availability of
that privilege is communicated to such purchaser, whichever occurs later.
NOTICE TO NON-U.S. RESIDENTS GENERALLY
No action has been or will be taken in any jurisdiction outside the U.S. that would permit an offering of these
securities, or possession or distribution of offering material in connection with the issue of these securities, in any
country or jurisdiction where action for that purpose is required. It is the responsibility of any person wishing to
subscribe for the Interests to inform themselves of and to observe all applicable laws and regulations of any relevant
jurisdictions. Prospective investors should inform themselves as to the legal requirements within the countries of
their citizenship, residence, domicile and place of business with respect to the acquisition, holding or disposal of the
Interests, and any foreign exchange restrictions that may be relevant thereto.
AUSTRALIA
The Fund is not a registered managed investment scheme, nor is it required to be registered as a managed investment
scheme, and this Memorandum is not a product disclosure document lodged or required to be lodged with the
Australian Securities and Investments Commission. Interests in the Fund will only be offered in Australia to persons
to whom such securities may be offered without a product disclosure statement under Part 7.9 of the Corporations
Act 2001 (Cth). Interests in the Fund subscribed for by investors in Australia must not be offered for resale in
Australia for 12 months from allotment except in circumstances where disclosure to investors under the Corporations
Act 2001 (Cth) would not be required or where a compliant product disclosure statement is produced. Prospective
investors in Australia should confer with their professional advisors if in any doubt about their position.
AUSTRIA
Interests in the Fund may only be offered in the Republic of Austria in compliance with the provisions of the
Austrian Capital Market Act, the Austrian Investment Funds Act and other laws applicable in the Republic of Austria
governing the offer, issue and sale of the interests in the Republic of Austria. Interests in the Fund are being offered
exclusively to a limited number of investors in Austria and are therefore not subject to the public offering
requirements of the Austrian Capital Market Act or the Austrian Investment Fund Act. Interests in the Fund are not
registered or otherwise authorized for public offer either under the Austrian Capital Market Act, the Austrian
Investment Fund Act or any other securities regulation in Austria. The recipients of this Memorandum and other
selling material in respect to interests in the Fund have been individually selected and are targeted exclusively on the
basis of a private placement. This offer may not be made to any other persons than the recipients to whom this
Memorandum is personally addressed. Any investor intending to offer and resell interests in the Fund in Austria is
solely responsible that any offer and resale takes place in compliance with the applicable provisions of the Austrian
Capital Market Act, the Austrian Investment Fund Act or any other applicable securities regulation.
BELGIUM
The Fund has not been and will not be registered with the Belgian Financial Services and Markets Authority
(Autoriteit voor financiële diensten en markten / Autorité des Services Financiers et des Marchés) (“FSMA”) as a
foreign collective investment institution referred to under Article 127 of the Belgian Act of July 20, 2004 relating to
certain forms of collective management of investment portfolios. This Memorandum and the offering of Limited
Partner Interests in the Fund have not been and will not be notified to, and have not been approved or disapproved
by, the FSMA. The public offering of Limited Partner Interests in the Fund in Belgium within the meaning of the
Belgian Act of July 20, 2004, and the Belgian Act of June 16, 2006 on the public offering of investment instruments and
the admission of investment instruments to listing on a regulated market has not been authorized by the Fund. The
offering may therefore not be advertised, and Limited Partner Interests in the Fund may not be offered, sold,
transferred or delivered to, or subscribed to by, and no memorandum, information circular, brochure or similar
document may be distributed to, directly or indirectly, any individual or legal entity in Belgium, except (i) to
“qualified investors” as referred to in Article 10, § 1 of the aforementioned Act of June 16, 2006, (ii) subject to the
restriction of a minimum investment of €100,000 per investor or (iii) in any other circumstances in which the present
offering does not qualify as a public offering in accordance with the aforementioned Act of June 16, 2006. This
Memorandum has been issued to the intended recipient for personal use only and exclusively for the purpose of the
offering. Therefore, it may not be used for any other purpose, nor passed on to any other person in Belgium.
100
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BRAZIL
The Fund is not listed with any stock exchange, organized over the counter market or electronic system of securities
trading. Interests in the Fund have not been and will not be registered with any securities exchange commission or
other similar authority, including the Brazilian Securities and Exchange Commission (Comissão de valores
Mobiliários - or the “CVM”). Interest in the Fund will not be directly or indirectly offered or sold within Brazil
through any public offering, as determined by Brazilian law and by the rules issued by the CVM, including Law No.
6,385 (Dec. 7, 1976) and CVM Rule No. 400 (Dec. 29, 2003), as amended from time to time, or any other law or rules
that may replace them in the future.
Acts involving a public offering in Brazil, as defined under Brazilian laws and regulations and by the rules issued by
the CVM, including Law No. 6,385 (Dec. 7, 1976) and CVM Rule No. 400 (Dec. 29, 2003), as amended from time to
time, or any other law or rules that may replace them in the future, must not be performed without such prior
registration. Persons in Brazil wishing to acquire interests in the Fund should consult with their own counsel as to the
applicability of these registration requirements or any exemption therefrom. Without prejudice to the above, the sale
and solicitation of interests in the Fund is limited to qualified investors as defined by CVM Rule No. 409 (Aug. 18,
2004), as amended from time to time or as defined by any other rule that may replace it in the future.
This Memorandum is confidential and intended solely for the use of the addressee and cannot be delivered or
disclosed in any manner whatsoever to any person or entity other than the addressee.
COLUMBIA
Neither this Memorandum nor the interests in the Fund have been reviewed or approved by the Financial
Superintendency of Colombia (the “FSC”) or any other governmental authority in Colombia, nor has the Fund or any
related person or entity received authorization or licensing from the FSC or any other governmental authority in the
Colombia to market or sell interests in the Fund within Colombia. No public offering of interests in the Fund is being
made in Colombia or to Colombian residents. By receiving this Memorandum, the recipient acknowledges that it
contacted New Leaf at its own initiative and not as a result of any promotion or publicity by New Leaf. This
Memorandum is strictly private and confidential and may not be reproduced, used for any other purpose or
provided to any person other than the intended recipient.
DENMARK
This Memorandum has not been and will not be filed with or approved by the Danish Financial Supervisory
Authority or any other regulatory authority in Denmark and Limited Partner Interests in the Fund have not been and
are not intended to be listed on a Danish regulated market. Limited Partner Interests in the Fund have not been and
will not be offered in Denmark under the E.U. Alternative Investment Fund Managers Directive (as implemented
into Danish law). Consequently, this Memorandum may not be made available and interests in the Fund may not be
marketed or offered for sale directly or indirectly to any natural or legal person in Denmark except as permitted
under applicable rules.
FINLAND
As the Fund is a closed end fund, the marketing of interests in the Fund is not interpreted to be subject to the
provisions of the Finnish Act on Mutual Funds (sijoitusrahastolaki, 29.1.1999, as amended, the “MFA”). Accordingly
prospective investors should acknowledge that this Memorandum is not a fund prospectus as meant in the MFA and
the marketing of interests in the Fund is not subject to a marketing permission from the Financial Supervisory
Authority (Finanssivalvonta; “FIN-FSA”). Furthermore, even if interests in the Fund were to be construed as
“securities” as defined in the Finnish Securities Markets Act (arvopaperimarkkinalaki, 14.12.2012/746, as amended
the “SMA”), based on the exemptions set forth in the SMA, the offering of interests in the Fund would be exempted
from the prospectus requirements of the SMA (based on the limited number of Finnish offerees and the minimum
investment and transfer restrictions specified herein). Accordingly prospective investors must acknowledge that this
Memorandum is not a prospectus within the meaning set forth in the SMA. Prospective investors should also note
that neither the General Partner or the Management Company is an investment firm (sijoituspalveluyritys) within the
meaning of the Finnish Investment Services Act ( sijoituspalvelulaki 747/2012) and they are not subject to the
supervision of the FFSA. Any prospective investors should acknowledge that they will not be treated as clients of
placement agents (if any) engaged by the Management Company in connection with the placement of interests in the
Fund and such placement agents may not be under any duty to safeguard the interests of prospective investors.
Furthermore, the Fund is not a property fund as meant in the Finnish Act on Property Funds (kiinteistörahastolaki,
1173/1997). The FIN-FSA has not authorized any offering for the subscription of interests in the Fund; accordingly,
interests in the Fund may not be offered or sold in Finland or to residents thereof except as permitted by Finnish law.
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CONTROL NUMBER 257 - CONFIDENTIAL
This Memorandum has been prepared for private information purposes only and it may not be used for, and shall
not be deemed, a public offering of interests in the Fund. This Memorandum is strictly for private use by its holder
and may not be passed on to third parties or otherwise distributed publicly.
FRANCE
This Memorandum (including any amendment, supplement or replacement thereto) is not being distributed in the
context of a public offering in France within the meaning of Article L. 411-1 of the French Monetary and Financial
Code (Code monétaire et financier). This Memorandum has not been and will not be submitted to the French Autorité
des marchés financiers (“AMF”) for approval in France and accordingly may not and will not be distributed to the
public in France.
Pursuant to Article 211-3 of the AMF General Regulation, French residents are hereby informed that:
1. the transaction does not require a prospectus to be submitted for approval to the AMF;
2. persons or entities referred to in Point 2°, Section II of Article L.411-2 of the Monetary and
Financial Code may take part in the transaction solely for their own account, as provided in Articles D. 411-1, D. 734-
1, D. 744-1, D. 754-1 and D. 764-1 of the Monetary and Financial Code; and
3. the financial instruments thus acquired cannot be distributed directly or indirectly to the public
otherwise than in accordance with Articles L. 411-1, L. 411-2, L. 412-1 and L. 621-8 to L. 621-8-3 of the Monetary and
Financial Code.
This Memorandum is not to be further distributed or reproduced (in whole or in part) in France by the recipients of
this Memorandum. This Memorandum has been distributed on the understanding that such recipients will only
participate in the issue or sale of Limited Partner Interests in the Fund for their own account and undertake not to
transfer, directly or indirectly, Limited Partner Interests in the Fund to the public in France, other than in compliance
with all applicable laws and regulations and in particular with Articles L. 411-1 and L. 411-2 of the French Monetary
and Financial Code.
GERMANY
The Fund has been notified to the Bundesanstalt für Finanzdienstleistungsaufsicht (the German Federal Financial
Supervisory Authority or “BaFin”) for marketing to (vertrieben as this term is construed under the German Capital
Investment Code (Kapitalanlagegesetzbuch - KAGB) in the Federal Republic of Germany solely to professional
investors (as this term is construed under the KAGB). The Limited Partner Interests in the Fund may not be
distributed in the Federal Republic of Germany or used in connection with any offer for subscription of the Limited
Partner Interests in the Fund other than to professional investors. Neither this Memorandum nor any other document
relating to the Fund or the Limited Partner Interests in the Fund, as well as the information contained therein may be
supplied in Germany to persons other than professional investors.
HONG KONG
The contents of this Memorandum have not been reviewed or approved by any regulatory authority in Hong Kong.
This Memorandum does not constitute an offer or invitation to the public in Hong Kong to acquire interests in the
Fund. Accordingly, unless permitted by the securities laws of Hong Kong, no person may issue or have in its
possession for the purposes of issue, this Memorandum or any advertisement, invitation or document relating to
interests in the Fund, whether in Hong Kong or elsewhere, which is directed at, or the contents of which are likely to
be accessed or read by, the public in Hong Kong other than in relation to interests in the Fund which are intended to
be disposed of only to persons outside Hong Kong or only to “professional investors” (as such term is defined in the
Securities and Futures Ordinance of Hong Kong (Cap. 571) (the “SFO”) and the subsidiary legislation made
thereunder) or in circumstances which do not result in this Memorandum being a “prospectus” as defined in the
Companies Ordinances of Hong Kong (Cap. 32) (the “CO”) or which do not constitute an offer or an invitation to the
public for the purposes of the SFO or the CO. The offer of interests in the Fund is personal to the person to whom
this Memorandum has been delivered by or on behalf of the Fund, and a subscription for interests in the Fund will
only be accepted from such person. No person to whom a copy of this Memorandum is issued may issue, circulate or
distribute this Memorandum in Hong Kong or make or give a copy of this Memorandum to any other person. You
are advised to exercise caution in relation to the offer. If you are in any doubt about any of the contents of this
Memorandum, you should obtain independent professional advice.
ICELAND
This Memorandum has been issued to the recipient, for personal use only, exclusively in connection with a private
placement of interests in the Fund. Accordingly, this Memorandum may not be used by the recipient for any other
102
CONTROL NUMBER 257 - CONFIDENTIAL
purpose nor forwarded to any other person or entity in Iceland. The offering of interests in the Fund described in
this Memorandum is a private placement under Icelandic law and the interests in the Fund may only be offered and
sold (as well as resold) in Iceland to a person or entity that is a Qualified Investor as defined in Item No. 9 of Article
43 of the Icelandic Act on Securities Transactions. Also, any subsequent transfer or resale of interests in the Fund in
Iceland will need to comply with the applicable provisions of the Icelandic Act on Securities Transactions.
Prospective Icelandic investors should consult with their own tax advisors as to the tax consequences of an
investment in the Fund.
ITALY
The Fund is not a UCITS fund. The offering of interests in the Fund in Italy has not been nor will it be authorized by
the Bank of Italy and the Commissione Nazionale per la Società e la Borsa. Interests in the Fund are offered upon the
express request of the investor, who has directly contacted the Fund or its sponsor on the investor’s own initiative.
No active marketing of the Fund has been made nor will it be made in Italy, and this Memorandum has been sent to
the investor at the investor’s unsolicited request. The investor acknowledges and confirms the above and hereby
agrees not to sell or otherwise transfer any Interests in the Fund or to circulate this Memorandum in Italy unless
expressly permitted by, and in compliance with, applicable law.
JAPAN
Interests in the Fund are a security set forth in Article 2, Paragraph 2, Item 6 of the Financial Instruments and
Exchange Law of Japan (the “FIEL”). No public offering of interests in the Fund is being made to investors resident
in Japan and in accordance with Article 2, paragraph 3, Item 3, of the FIEL, no securities registration statement
pursuant to Article 4, paragraph 1, of the FIEL has been made or will be made in respect to the offering of interests in
the Fund in Japan. The offering of interests in the Fund in and investment management for the Fund in Japan is
made as “Special Exempted Business for Qualified Institutional Investors, Etc.” under Article 63, Paragraph 1, of the
FIEL. Thus, interests in the Fund are being offered only to a limited number of investors in Japan. Neither the Fund
nor any of its affiliates is or will be registered as a “financial instruments firm” pursuant to the FIEL. Neither the
Financial Services Agency of Japan nor the Kanto Local Finance Bureau has passed upon the accuracy or adequacy of
this Memorandum or otherwise approved or authorized the offering of interests in the Fund to investors resident in
Japan.
LUXEMBOURG
No public offering of interests in the Fund is being made to investors resident in Luxembourg. Interests in the Fund
are being offered only to a limited number of sophisticated and professional investors in Luxembourg. The
Commission de Surveillance du Secteur Financier of Luxembourg has not passed upon the accuracy or adequacy of
this Memorandum or otherwise approved or authorized the offering of interests in the Fund to investors resident in
Luxembourg.
NETHERLANDS
In the Netherlands, Limited Partner Interests in the Fund may only be offered, sold, transferred or assigned, as part
of their initial distribution or at any time thereafter, to natural persons who or legal entities which are Qualified
Investors as defined in Section 1:1 of the Financial Supervision Act (Wet op het financieel toezicht (the “FSA”)).
Limited Partner Interests in the Fund may not otherwise be offered, directly or directly, in the Netherlands. Where an
offer is made exclusively to Qualified Investors within the meaning of section 1:1 of the FSA, the General Partner is
not under an obligation to have the offering memorandum approved by the Dutch Authority for the Financial
Markets or by a competent authority of another member state of the European Economic Area in accordance with
Prospectus Directive 2003/71/EC and Prospectus Regulation 809/2004/EC.
NORWAY
This Memorandum does not constitute an invitation or a public offer of securities in the Kingdom of Norway. It is
intended only for the original recipient and is not for general circulation in the Kingdom of Norway. The offer herein
is not subject to the prospectus requirements laid down in the Norwegian Securities Trading Act. This Memorandum
has not been nor will it be registered with or authorized by any governmental body in Norway. Interests in the Fund
may only be solicited, acquired or offered in or from Norway to investors for a total face value of at least €100,000.
SAUDI ARABIA
Neither this Memorandum nor the interests in the Fund have been approved, disapproved or passed on in any way
by the Capital Market Authority or any other governmental authority in the Kingdom of Saudi Arabia, nor has the
Fund received authorization or licensing from the Capital Market Authority or any other governmental authority in
103
CONTROL NUMBER 257 - CONFIDENTIAL
the Kingdom of Saudi Arabia to market or sell interests in the Fund within the Kingdom of Saudi Arabia. This
Memorandum does not constitute and may not be used for the purpose of an offer or invitation. No services relating
to interests in the Fund, including the receipt of applications and the allotment or redemption of such interests, may
be rendered by the Fund within the Kingdom of Saudi Arabia.
SOUTH AFRICA
Neither this Memorandum nor the interests in the Fund have been approved, disapproved or passed on in any way
by the Financial Services Board or any other governmental authority in South Africa, nor has the Fund received
authorization or licensing from the Financial Services Board or any other governmental authority in South Africa to
market or sell interests in the Fund within South Africa. This Memorandum is strictly confidential and may not be
reproduced, used for any other purpose or provided to any person other than the intended recipient.
SOUTH KOREA
In South Korea, interests in the Fund are being offered only to persons prescribed by Article 301, Paragraph 2 of the
Enforcement Decree of the Financial Investment Services and Capital Markets Act (“Qualified Professional
Investors”). The Subscriber hereby represents and warrants to the Fund that the Subscriber (i) is a Qualified
Professional Investor as prescribed by the Financial Investment Services and Capital Markets Act and (ii) is fully
aware of the meaning, effect and ramifications of being an Qualified Professional Investor and fully agrees to be
treated in accordance therewith.
SPAIN
Interests in the Fund may not be offered or sold in Spain except in accordance with the requirements of the Spanish
Securities Market Act (Ley 24/1988, de 28 de Julio, del Mercado de Valores) as amended and restated, Royal Decree
1310/2005, on securities admission to trade on secondary official markets, public offerings or subscriptions, and
prospectus required to such effects, and/or subject and in compliance with the requirements contained in such
regulations (Real Decreto 1310/2005, de 4 de noviembre, por el que se desarrolla parcialmente la Ley 24/1988, de 28
de julio, del Mercado de Valores, en materia de admisión a negociación de valores en mercados secundarios oficiales,
de ofertas públicas de venta o suscripción y del folleto exigible a tales efectos), and subsequent legislation. This
Memorandum is neither verified nor registered with the Comisión Nacional del Mercado de Valores, and therefore a
public offer of interests in the Fund will not be carried out in Spain.
SWEDEN
This Memorandum has not been nor will it be registered with or approved by Finansinspektionen (the Swedish
Financial Supervisory Authority). Accordingly, this Memorandum may not be made available, nor may the interests
in the Fund offered hereunder be marketed and offered for sale in Sweden, other than under circumstances which are
deemed not to require a prospectus under the Swedish Financial Instruments Trading Act (1991:980) (Sw. lag
(1991:980) om handel med finansiella instrument). Accordingly, the offering of interests in the Fund will only be
directed to persons in Sweden who subscribe to interests in the Fund for a total consideration of at least €100,000 per
investor.
SWITZERLAND
Under the Collective Investment Schemes Act dated June 23, 2006 and revised on September 28, 2012 (the “CISA”),
the offering, sale and distribution to non-qualified investors of units in foreign collective investment schemes in or
from Switzerland are subject to authorization by the Swiss Financial Market Supervisory Authority (“FINMA”) and,
in addition, the distribution to certain qualified investors of interests in such collective investment schemes may be
subject to the appointment of a representative and a paying agent in Switzerland. The concept of “foreign collective
investment scheme” covers, inter alia, foreign companies and similar schemes (including those created on the basis of
a collective investment contract or a contract of another type with similar effect) created for the purpose of collective
investment, whether such companies or schemes are closed end or open end. There are reasonable grounds to believe
that the Fund would be characterized as a foreign collective investment scheme under Swiss law. As interests in the
Fund have not been and cannot be registered with or authorized by FINMA for distribution to non-qualified
investors, any offering of interests in the Fund, and any other form of solicitation of investors in relation to the Fund
(including by way of circulation of offering materials or information, including this Memorandum), must be
restricted to investors considered as qualified investors within the meaning of the CISA and its implementing
regulations. Failure to comply with the above-mentioned requirements may constitute a breach of the CISA.
104
CONTROL NUMBER 257 - CONFIDENTIAL
UNTIED ARAB EMIRATES
By receiving this Memorandum, the person or entity to whom it has been issued understands, acknowledges and
agrees that neither this Memorandum nor the interests in the Fund have been approved, disapproved or passed on in
any way by the Central Bank of the United Arab Emirates (“UAE”), the UAE Securities and Commodities Authority
(the “SCA”) or any other authority in the UAE, nor has the entity conducting the placement in the UAE received
authorization or licensing from the Central Bank of the UAE, the SCA or any other authority in the UAE to market or
sell interests in the Fund within the UAE. The SCA accepts no liability in relation to the Fund and is not making any
recommendation with respect to an investment in the Fund. No services relating to the interests in the Fund
including the receipt of applications and/or the allotment or redemption of such interests have been or will be
rendered within the UAE by the Fund. Nothing contained in this Memorandum is intended to constitute UAE
investment, legal, tax, accounting or other professional advice. This Memorandum is for the information of
prospective investors only and nothing in this Memorandum is intended to endorse or recommend a particular
course of action. Prospective investors should consult with an appropriate professional for specific advice rendered
on the basis of their situation. No offer or invitation to subscribe for interests or sale of interests in the Fund has been
or will be rendered in, or to any persons in, or from, the Dubai International Finance Centre.
UNITED KINGDOM
In the United Kingdom, this Memorandum is being distributed only to and is directed only at (i) persons who have
professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) high-net-worth entities falling
within Article 49(2) of the Order, and (iii) any other persons to whom it may otherwise lawfully be communicated
(all such persons together being referred to as “relevant persons”). Persons who are not relevant persons must not
act on or rely on this Memorandum or any of its contents. Any investment or investment activity to which this
Memorandum relates is available only to relevant persons and will be engaged in only with relevant persons.
Recipients must not distribute, publish, reproduce, or disclose this Memorandum, in whole or in part, to any other
person.
105
CONTROL NUMBER 257 - CONFIDENTIAL
"
IMAGES-007-HOUSE_OVERSIGHT_023574.txt,"Trump-Clinton debate.""

I was joking in one sense, but not in another. Why is the initiative so significant?
From the global perspective, poverty, under-development, and vast inequalities are
deep, seemingly intractable problems — and economic development, catalyzed by
infrastructure construction, is an essential part of the solutions.

From China's perspective, after decades of remarkable growth, economic
transformation is necessary, and this includes geographical rebalancing within China
and expanding China's trade by enhancing globalization.

All of these can be achieved by the initiative, but only if formulated synergistically
and implemented assiduously. There are substantial challenges, of course —
economic, financial, structural, political instability, nationalism, terrorism and, in

certain circles, suspicion of China's motives.

But for sure, the world has great need and China has a grand plan in the Belt and
Road Initiative.

The author is a public intellectual, political/economics commentator, and
international corporate strategist.

http://africa.chinadaily.com.cn/opinion/2017-05/13/content_29330010.htm

HOUSE_OVERSIGHT_023574
"
IMAGES-011-HOUSE_OVERSIGHT_031978.txt,"They declined to publish a particular column—-my review of MASH as though it were a Busby
Berkeley musical called Gook Killers of 1970-— ostensibly on the grounds of bad taste, but I
learned that three wholesalers had told the publisher they were pressured by the FBI and would

refuse to distribute Cavalier if my name appeared in it.

On top of that, my name was on a list of sixty-five “radical” campus speakers, released by the
House Internal Security Committee. The blacklist was published in the New York Times, and
picked up by newspapers across the country. It might have been a coincidence, but my campus-

speaking engagement-bookings stopped abruptly. It felt just like a film.
OH, WELL

It was over for me, but it had been fun—like the issue with only the one large red headline
on the Cavalier cover: “BEAT ‘EM SENSELESS FIRST”—THE FREE SPEECH
CONTROVERSY, BY PAUL KRASSNER .. . “Ironically,” I wrote, “it is this concept of the
total education experience on campus which I believe to be the basic significance of the much-

misunderstood free-speech imbroglio at the University of California in Berkeley.”

The sit-in lasted till 3 a.m. Next day, October 1, 1964, ten tables were manned again, and
a campus policeman approached one of the tables (manned by the Congress of Racial Equality)
where a dozen persons were seated. One was singled out and placed under arrest. But before you
could say nonviolent demonstration, the police car was surrounded, its captors reaching as many
as 3,000 students. During the late evening, bored fraternity men gathered and tossed lighted

cigarettes and eggs on those sitting in the plaza. The demonstrators responded with silence.

Next day, 450 police assembled on campus to remove the cop car and its arrested inhabitant,
but an agreement to negotiate was reached and the demonstrators dispersed. One of the folk songs
to come out of the Free Speech Movement incidentally, was If] Negotiate With You, to the tune
of the Beatles’ Jf J Fell in Love With You.

HOUSE_OVERSIGHT_031978
"
IMAGES-004-HOUSE_OVERSIGHT_017469.txt,"4.2.12
WC: 191694

My only “crime”

I can think of only one crime that I may have committed in my life, and I know that if I had been
tried for it, I would not only have been acquitted, but the jurors would have cheered me.

It occurred after my son, Elon, had serious brain surgery for a life threatening illness. He was 10
years old and the bravest person I ever met. Shortly after the surgery, he went back to work
selling newspapers in the subway station at Harvard Square. One day two young hoodlums from
Somerville beat him up, broke his tooth and stole the few dollars he had earned. A local
policeman, Frank Burns, who knew Harvard Square like the back of his hand, immediately
recognized the MO of the thugs and arrested the two youths (“youts”—remember My Cousin
Vinny!)

Several days later, the two thugs came back to Harvard Square, robbed my son again and told
him that unless he withdrew his complaint, they would throw him in front of a moving train. He
called me and I ran to the square, where I saw the two thugs taking a victory lap. I approached
them and I said I have only two words to say to you. I then mentioned the name of a man on
whose case I was then consulting. Although the charge against him involved marijuana
trafficking, the man himself was known to be a notorious hit man for one of Boston’s most violent
gangs. I told the two youths that if they ever came near my son again, I would tell my client and
that my client would do anything for me. The two thugs got down on their hands and knees and
pleaded with me not to tell my client what they had done. They never came back. I never told
my client, indeed I had never met my client, and still haven’t. I was just consulting with another
lawyer on a constitutional issue related to the case. But simply mentioning his name terrorized
the thugs. I’m not sure whether what I did was a crime. But I would do it again if anyone ever
threatened any of my children.

382

HOUSE_OVERSIGHT_017469
"
IMAGES-003-HOUSE_OVERSIGHT_015078.txt,"proceeds to purchase their poisoned food, leaded Christmas toys, and
“Made in China” American flags.

America remains a living paradox, where our citizens are force-fed
misinformation and disinformation, so that we can continue to fund
incompetent and illegal activities in the U.S.--even though our revolution
was fought because of taxation without representation. And yet | live in
this country where at least | still have complete freedom to openly
condemn the government, the corporations and organized religions that
continue enabling each other to reek with greed, corruption, and

inhumanity.

HOUSE_OVERSIGHT_015078
"
IMAGES-009-HOUSE_OVERSIGHT_026766.txt,"please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
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including all attachments. copyright -all rights reserved

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
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Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
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communication in error, please notify us immediately by
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please note

The information contained in this communication is
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constitute inside information, and is intended only for
the use of the addressee. It is the property of

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Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
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HOUSE_OVERSIGHT_026766
"
IMAGES-001-HOUSE_OVERSIGHT_010929.txt,"defenses” blocking a sale and effectively locking the trust in a minority position. But
now that danger was over. The remaining plaintiffs were my three nieces and Paul. |

couldn't blame them. How could a corporate co-trustee hurt?

But I was still worried. I now wanted to split up the trust into four separate ones for
my family, Paul’s, George’s, and my other half-brother Ronnie’s. Corporate co-
trustees tend to prefer the safety of acting only as required, and anyhow might not

be keen to vote themselves out of a job.

Were Paul and my nieces mad at me? Believe it. Lawsuits get that way. Lawyers on
both sides say nasty things. That lasted because splitting the Trust took time. The
math was easy, but the legal precedents were vague. My lawyer, Mose Lasky,
thought we needed new California law. Plaintiff's counsel didn’t think so. I was
accused of stalling. Someone had the bright idea to approach Willy Brown as
Speaker of the Senate. The law Mose wanted had already worked in other states,
and Willy liked it. He pushed it through. Problem solved. The Trust was split into
four in 1988, and an unhappy chapter ended. My nieces and | are as close as ever. So

were Paul and I until his death in 2002.

My interests by the time of the split were composing, verse, economics, human
origins and evolutionary biology. Composing was going pretty well. My writer's
block had melted away in the summer of 1980. Ann and | and the boys were in Paris
then. We wandered into Smith’s English language bookstore. | bought the Thomas
Johnson variorum of Emily Dickenson’s 1800-odd poems. “Variorum” means
including Emily’s own variations when she mailed the same poem to different

people, or put a copy in the chest at the foot of her bed.

I read them all over the next two days. Emily had been one of my favorites at USF.
She died in 1886. She had published only eleven poems. Squabbles among the heirs
delayed publication of about half the rest until Johnson published them in 1959,
three years after | graduated. Many already published had been “bowdlerized” to fit
conventional rhyme and grammar. Johnson gave us the real McCoy from her

manuscripts. All was new to me.

Chapter 1: Recollections 1/06/16 13

HOUSE_OVERSIGHT_010929
"
IMAGES-002-HOUSE_OVERSIGHT_013040.txt,"124

6 A Brief Overview of CogPrime

Word Node
e
aereren™
| -
A bia
meee Reference
\ yin Link
Rake / Concept Node
& io
®
Y
>
List Link O)
, Concept Hy, Reference
Node — “*bbian Link
\ Link
Hebbian / \\Hebbian / % “
Link Link { aoe
i \ concept (os
Concept _/ \ Concept Node
Node O O Node \
| \ \ 3 \
| \ \¢& \
2 \ a 3%. \
o \ Fo | 2
Sa \o% 3 @
3 0 | 30 E
% 3) a4 | 5
| | © | Fa
\ | 4
\ I o
Word Node

Fig. 6.8: Example of Explicit Knowledge in the Atomspace. One simple example of
explicitly represented knowledge in the Atomspace is linguistic knowledge, such as words and

the concepts directly linked to them. Not all of a CogPrime system’s concepts correlate to
words, but some do.

HOUSE_OVERSIGHT_013040
"
IMAGES-010-HOUSE_OVERSIGHT_028860.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
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including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_028860
"
IMAGES-006-HOUSE_OVERSIGHT_022223.txt,"From: Al seckel [aseckel@ yahoo.com]

Sent: 12/16/2010 1:20:06 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re: Results

Importance: — High

you can call as 1 am obviously (iim

From: Jeffrey Epstein <jeevacation@gmail.com>
To: Al seckel < >

Sent: Thu, December 16, 2010 5:01:25 AM
Subject: Re: Results

I was never told never, that there was a 10k fee per month,, you inittaly said the project would take 20.. then
another 10. then another 10. .

On Wed, Dec 15, 2010 at 12:36 PM, Al seckel <i wrote:
Jeffrey,

The bots did the sweep. Here are the new results taken as of a minute ago. You have only one negative article
left on front page of google, which is the Huffington Post article. The Huffington Post is extremely hard to
move, because it is so powerful, has millions of links to it, and uploads massive new and original content it on
a daily basis with posting from out side readers. We managed to push it down the page, as it used to be at the
top. If we were able to post original content to both the science and the org site (absolutely not a single word to
this day by Jessica, just talk), we would have been able to push it down even further, and off the page. WE did
manage to get rid of the daily beast article, which is now far removed, inspite of their own efforts to keep it
prominent.

Toxic suggested search engine terms that popped up automatically when you typed in your name are also now
removed.

Wikipedia was an important victory, as it will always be at the top of the search engine results. ow the head
lines do not mention convicted sex offender or pedophile. Instead, Philanthrophic work, Epstein Foundation,
Promotion of Scientists. We have stopped the hacking on your wiki site, and that was a major effor. Your wiki
entry now is pretty tame, and bad stuff has been muted, bowlerized, and pused to the bottom. Careful editing
and wording has muted the effect immensely. We hacked the site to replace the mug shot and caption, and now
has an entirely different photo and caption. This was a big success.

We pushed the Edge all the way up to the front page, where it was previously buried on page 5 of google
search.

We have promoted the other jeffrey epsteins, and other pages are also filled with your material.

And, while the sites are up, and in the direction we hoped, they are still new, and subject to volitility,
especially if new original content is not added on a minimum of a weekly basis. I have been forbideen to add
new content to the philanthrophic site as well as the science site, and therefore, as a result our rating slipped
down (still on the first page, but would have liked them (and some of the articles to been able to push
Huffington off page). We also helped with you images, and the first images that come of you on a google
search are not of your mug shot, etc.

HOUSE_OVERSIGHT_022223
"
IMAGES-002-HOUSE_OVERSIGHT_013726.txt,"invariant scaling laws that describe their relationships within some limits on the

range of values.

In describing the functional size, radius of gyration, Rg, of a polymer such as
a polypeptide, composed of N monomers, assume each of the amino acids to be
the same and that they are in a “good” hydrophobic solvent that didn’t stick the
polymer together in a fold. Flory (1971) found a scaling law for certain broad classes
of polymers and solvents, Rg ~ aN” where the exponent, v = 3/5, was universal, N
indicated the number of monomers in the chain and the value of “pre-factor” a
depended upon the particular monomer and solvent chosen. Log Rg plotted against
log N has a “power law” slope of 0.60. For an equally static but less physical
example, there is the well known Zipf law of “vocabulary balance’(Zipf, 1949). First
reported for the 260,450 words of James Joyce’s Ulysses, the slope of the log of the
rank of the words found (ordered from most to least along x) plotted against the log
of their frequency (along y) results in a power law that is (generally) true for other

collections of words and in other languages.

An accessible example of a dynamical scaling law arises in a two
dimensional lattice model of a forest which is to be set on fire with probability p
independent random single tree ignitions. At some critical p, pc, the fire sweeps
through the entire forest (“percolates”) and the correlation length of the connected
clusters grows as |p-p,|’ with a universal scaling exponent, y = 4/3, for all Monte

Carlo, two dimensional percolation problems (Stauffer, 1985; Grimmett, 1989).

Mandelbrot’s scheme for the power laws that compose his fractal geometry
of dynamical objects is a measure made on the pattern of occupancy in the
embedding space by the reconstructed orbits of an attractor. It is, generally,
mass = length” in which Do (the subscript that of the “capacity dimension”) is not the
whole number of Euclidian dimensions, d, of the space in which the orbits are
embedded. After Hausdorffs “convergence of external and internal measures”
(Hurewicz and Wallman, 1948), the (capacity) fractal dimension Do is also defined
as being larger than its topological dimension and smaller than its Euclidian

embedding dimension. Graphing a time series on a plane one can think of its

226

HOUSE_OVERSIGHT_013726
"
IMAGES-002-HOUSE_OVERSIGHT_014049.txt,"70 CASSELL ET AL. [Vol. 104

A. THE CVRA’S PURPOSES

An analysis of the CVRA’s application before prosecutors have filed
charges must begin by assessing the CVRA’s purposes because any
interpretation of the CVRA that is divorced from the statute’s purposes
would run the risk of defeating the statute’s aims. It is axiomatic that courts
should “give faithful meaning to the language Congress adopted in the light
of the evident legislative purpose in enacting the law in question.”

As discussed above,’ one important goal of the CVRA was to keep
crime victims informed about any developments in the criminal justice
process. But the need to be informed does not begin with the filing of a
formal criminal charge. A crime victim needs to know what is happening
before formal charging—during a criminal investigation, for example—just
as much as she needs to know what is happening in court. Indeed, she may
have a greater need to know, as she may be concerned that the criminal who
harmed her is still on the loose, posing a danger to her.

Similarly, concerning the second purpose—facilitating victim
participation’!—without a right to pre-charging involvement, victims may
be effectively shut out of the process entirely. The Epstein case provides a
useful illustration of why the CVRA must be understood to extend rights to
victims prior to indictment. The prosecutors handling the investigation
reached an agreement with Epstein that barred federal prosecution of sex
offenses committed against dozens of victims, including Jane Doe Number
One and Jane Doe Number Two. If CVRA rights did not extend to the
negotiations surrounding the agreement, then the victims never would have
had any ability to participate in the resolution of the case.>”

A construction of the CVRA that extends rights to victims before
charges are filed would be entirely consistent with the CVRA’s
participatory purpose. If victims have the ability to participate in a pre-
charging plea bargaining process, for example, victims can help ensure that
prosecutors do not overlook anything that should be covered in the plea
deal. For example, victims might be able to obtain agreement to a “no
contact” order or valuable restitution—points that the prosecutor might fail

49 Graham Cnty. Soil & Water Conservation Dist. v. United States ex rel. Wilson, 130 S.
Ct. 1396, 1409 (2010) (quoting United States v. Bornstein, 423 U.S. 303, 310 (1976))
(internal quotation marks omitted).

%° See supra notes 24-27.

>! See supra notes 28-29.

>? Even the Justice Department seems to recognize this point. As a matter of policy, the
Department extends to victims the right to confer with prosecutors in situations where plea
discussions occur before charges have been brought. U.S. DEP’T oF JUSTICE, OFFICE FOR
VICTIMS OF CRIME, ATTORNEY GENERAL GUIDELINES FOR VICTIM AND WITNESS ASSISTANCE
41-42 (2011 ed., rev. May 2012) [hereinafter ATTORNEY GENERAL GUIDELINES].

HOUSE_OVERSIGHT_014049
"
TEXT-001-HOUSE_OVERSIGHT_030710.txt,"From: Steve Bannon 
Sent: 3/15/2018 10:04:58 AM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Corker 'hopeful' on approving new war-powers authorization for Trump administration - POLITICO 
Importance: High 
https://www.politico.com/story/2018/03/14/corker-hopeful-war-powers-authorization-trump-464373 
HOUSE OVERSIGHT 030710 
"
IMAGES-008-HOUSE_OVERSIGHT_026449.txt,"From: jeffrey E. [jeevacation@gmail.com]
Sent: 7/25/2017 10:03:41 PM

To: Boris Nikolic

MM had emailed me a couple of times. over the past 2 months. after I sent her that note she said she had little
money, couldnt afford air condintioner. was living on a friends couch. really needed money. !!!!! 'Isent
hersome"" , your friend bill is nuts. his former girl. cant afford air con, , cant affrod to travel to bridge

, she said that sharon osborne used to arrange. . the lawyer helped her with papers. so she is ok, but

broke. . that story would take trump off the front pages The richest man in the world is so cheap , his
former bridge girl and toy , lives ona friends sofa. . WOWO

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
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communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
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including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026449
"
IMAGES-003-HOUSE_OVERSIGHT_016217.txt,"You have received this email because you signed up for an account on Flipboard with the email address:
jeevacation@gmail.com.

UNSUBSCRIBE | PRIVACY POLICY

©2019 Flipboard, Inc. Made with love at 735 Emerson Street, Palo Alto, CA 94301

HOUSE_OVERSIGHT_016217
"
IMAGES-001-HOUSE_OVERSIGHT_011389.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

86
H3VOGIU1

tell you that."" So even the defense counsel when given an

opportunity to articulate the relevance failed to do so, in our

view.

She says then her next argument is, well, the

plaintiff's experts are using Dershowitz's statements. As you
know from the 702 pleadings, no, we're using Maxwell's
statements. We're only going to be proving a case about what

Maxwell's defamation did to Ms. Giuffre.

And then the last argument was that there was a

failure to mitigate damages by suing Dershowitz. Well, your

Honor knows, if a person A commits a defamation, you sue A and

you get your damages. Then if person B does something, you

sort that out in a separate proceeding in a separate way.

Sacks and others are very instructive on that.

The last point they made was that, well, look, these

statements were going on while Cassell and Edwards were

representing her. They've shown simultaneity in time, but not

simultaneity in the scope.

It is true that the lawsuit was settled, and I won't

refer to myself in the third person. Mr. Edwards and I settled

the lawsuit and made certain statements in connection with

that, but that was to take care of our own professional

reputation and the lawsuit associated with that, it had nothing
to do with representing Ms. Giuffre.

I believe I have two left, your Honor, and you've been

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011389
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radientstyle""}, ""mediaStyle-2016-

elections"": {""backgroundColor"":""#lalala"", ""identifier"": ""mediaStyle-2016-

elections""}, ""mediasStyle-aiming-for-

gold"": {""backgroundColor"":""#lalala"", ""border"": {""bottom"":{""color™:""#5697E8"",""style"":""solid
"", ""width "":""2.0pt""}}, ""identifier"": ""mediaStyle-aiming-for-gold""}, ""mediaStyle-
enn"":{""backgroundColor""™:""#lalala"", ""border"": {""bottom"":{""color""™:""#c00"", ""style"":""solid"", ""w
ddth"":""2.0pt""}}, ""identifier"": ""mediasStyle-cnn""}, ""mediaStyle-

W

HOUSE_OVERSIGHT_033469
"
IMAGES-008-HOUSE_OVERSIGHT_025140.txt,"From: Robert Trivers [a

Sent: 6/25/2018 2:19:44 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Attachments: EPSTEIN.docx

Importance: — High
perhaps i misunderstood ""let's concentrate on you""
Jamaica is bad enough but i have mastered that—at least the danger—4th highest murder rate in the world

as for the US i have alienated large stretches of it—i will spare you the details

i was amused that you are now friends with JD Watson

he single-handedly prevented me from getting a Junior Fellowship at Harvard

In 1972 I got my PhD in Biology and it was conventional to nominate the very best post-docs for a Junior
Fellowship, Harvard’s most prestigious award—it provided three years of research support without any duties. I
was the best student out of Evolutionary and Organismic Biology in more than 20 years. The entire department

was behind me.

but Watson was on the 3-man committee, in charge of all the science candidates and he deemed my two papers,
reciprocal altruism and parental investment and sexual selection as “not being science” and dismissed me in one
sentence. Well bless his soul, he now does not even understand his own subject—yes, 1 speak of genetics—
because having remained resolutely ignorant of evolutionary logic and biology he can neither understand the

shape and form of the genotype nor how it differs systematically within life

i have been preparing something for you for a long time on human intelligence, Africa, parasites etc because 1

prefer to get things right but i am ready to send you what i have

main focus is—Africans stupid or smart?

bob

HOUSE_OVERSIGHT_025140
"
IMAGES-007-HOUSE_OVERSIGHT_023212.txt,"we need to coordinate. brad bank, cannot be clumsy

Date: Fri, Nov 20, 2015 at 10:50 AM

Subject: agenda

To: Melanie Spinella <i iii

1. brad orrichard. makes litte difference. 2. gagosian . no written contract??!! fishy to me - who
transfers 100 million dollars overseas without a contract ,- dont want you pulled into a scandal. careful
especially as he is on the tax dept radar,. 3. I would like you to delineate what you would like me to

do - the more specificity the better.- I think it important to avoid any misunderstandings as to each of
our obligations and responsbilities. I will always give you my best advice. I have made my views re ada
and the office clear . no hedging. . THEY should go. no hesitation . no zeus, your choice obviously.
good news - I will not bring it up again. moving forward- These transactions will require a great deal of
manpower over the next holiday month, every document needs minute review. . I would like to fix our
fee agreement , in detail no later than this weekend .ie amounts , dates paid . entities paid. any concept
you may have of"" after care""? all on the table. .other questions such as how much to leave your

children ,in what form, has no right answer. but you and I can dialougue as long as you like about issues of
judgement. it is out of o friendship. not biz. ( bill hellman as a trustee? ) . we can talk about that during
walks etc . I would like for you and I to go back to having fun.

Date: Mon, Nov 23, 2015 at 11:53 AM

Subject:

To: Melanie Spinella <9 >

25 minutes needed. 1 new and vastly improved plan, needs your thoughtful input. decisions on
legacy paintings bronzes. books etc. 2. we need to reach fee agreement. and authorities.( alan and I
spent time over the weekend, ) , hundred documents to be drafted. 3. gagosiaon 4 revolver .5 inspire -
FBI. 6. Phaidon, solution. 7 plane. no need to reinvent the wheel. . ( rowen ).

Date: Tue, Nov 24, 2015 at 2:41 PM
Subject: Fwd: Loan

To: Melanie Spinella <i’ ~

Please talk to him

Date: Tuesday, 24 November 2015
Subject: Loan
To: Jeffrey Epstein <jeevacation@gmail.com>

Cc: Melanie Spinella (i, ""Alan S. Halperin"" <x  Ada
Clapp [E> Joc Avantaric (ys >

Jeffrey-given the high daily interest cost (50k+/-) on $$ borrowed which you pointed out yesterday, here's
what I'm thinking, but I want to be 100% on the same page as you:

1. Close next monday on the credit line, but don't borrow any $$. (We can, of course push closing back but
my preference wld be to close.)

2. Right now, at barry's request, Irene Steiner, on behalf of the trustees is reviewing apol and apo-ol.
While probably not impt on a ""substantive"" basis it was (a) impt to barry and (b) is likely good for leon.

3. We are hoping to have signature pages to the trustees (and returned to us) by early to mid next week.
(Ada will oversee.)

4. We will then get the new trust to bofa who, moving quickly (according to them), will have an acct open
the following week, 12/7-9.

5. We need to manage execution of paperwork associated with decanting which I assume occurs once apo-
ol and bank acct are operative. (Ada I'm sure you'll be on top of this).

HOUSE_OVERSIGHT_023212
"
IMAGES-012-HOUSE_OVERSIGHT_032777.txt,"From: Kathy Ruemm|er

Sent: 6/22/2018 3:13:33 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

Small update when you have a second.

On Jun 22, 2018, at 10:42 AM, jeffrey E. <jeevacation@gmail.com> wrote:

sign of the times

On Fri, Jun 22, 2018 at 4:42 PM, Kathy Ruemmler PO wrote:

Good lord. A novella of rehashed crap.

On Jun 22, 2018, at 10:20 AM, jeffrey E. <jeevacation@gmail.com> wrote:

https://www.thedailybeast.com/how-did-trump-and-clinton-pal-jeffrey-epstein-escape-metoo

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032777
"
IMAGES-012-HOUSE_OVERSIGHT_033482.txt,"From: Sultan Bin Sulayern [i

Sent: 9/18/2015 5:26:12 AM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Fareed Zakaria: Trump sells America short

Fareed Zakaria: Trump sells America short

Dear Donald Trump: China, Japan and Mexico are not “killing us”
By Fareed Zakaria, Thursday, September 17, 2015

Donald Trump’s presidential bid is centered on the promise of his personal talents. He says he’s the “most successful
person ever to run for the presidency, by far.” (George Washington and Dwight Eisenhower, sit down!) But if there is an
idea animating his candidacy, it is that the United States is being badly beaten by its economic competitors. In his speech
on foreign policy this week, Trump explained that America is being bested by countries such as China, Japan and Mexico
because their leaders are “smarter, more cunning and sharper than our leaders.” “They’re killing us,” he often says.

This is an odd moment to make these charges because the reality is almost entirely the opposite. The United States is
more dominant on the global economic landscape than at any point since the heyday of Bill Clinton’s presidency —
perhaps even more so.

Last quarter, the U.S. economy grew at a 3.7 percent clip. Annual growth now is almost twice that of Europe and four
times that of Japan. Unemployment is at 5.1 percent, the lowest in seven years. The deficit as a percentage of gross
domestic product (2.8 percent in 2014) is at its lowest since 2007.

“The U.S. has come out of the 2008 crisis better than all the others,” says Ruchir Sharma, head of global macro investing
at Morgan Stanley. “Americans have reduced their debt burden more than the Europeans, while China’s debt has
skyrocketed to extremely dangerous levels. If you look outside of China, U.S. growth is actually faster even than the
emerging markets. Since the 2008 crisis, U.S. equity markets have outperformed all others — in fact 9 out of the 10 most
valuable companies in the world are now American. The dollar is the currency of choice. Global growth is not what it
used to be, but in a bad neighborhood, the U.S. has the best house by far.” Sharma points out that for the past four
years, the United States’ share of global GDP has increased while Europe’s and Japan’s have moved down.

When | was in Europe last week, businessmen there were concerned with what they saw as a new level of U.S.
dominance in everything from technology to entertainment to finance. Consider America’s big banks. They were at the
epicenter of the financial crisis and were badly battered by it. Since then, bankers have complained that they’ve faced
uncertainty about government policies, overzealous regulators trying to compensate for their laxness before the crisis
and the unwieldy burdens of the Dodd-Frank law.

Well, U.S. banks today are more dominant than ever. The Wall Street Journal notes that in the past five years, JPMorgan
Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley have increased in value by $254.6 billion. In the
same period, their European competitors, Barclays, Credit Suisse, Deutsche Bank, UBS and Royal Bank of Scotland added
just $9.5 billion. In July, Barclays Chairman John McFarlane was asked if America’s banks were eating European lenders’
lunch. He replied: “They are doing a good job of it.” He added that the U.S. banks “are the only ones that really claim to
be global and successful.”

HOUSE_OVERSIGHT_033482
"
IMAGES-012-HOUSE_OVERSIGHT_032944.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 12/15/2016 3:58:59 PM
To: Pritzker, Ton
Subject: Re:

Importance: — High

yes, any word on karyyna plans. . can you belive MBS sent mea TENT carpets and all.

On Thu, Dec 15, 2016 at 10:54 AM, Pritzker, Tom i wrote:

I’m stuck in the cold! Five degrees. Aspen next week to warm up. Tilerson is a good move for Trump. Have gotten to
know him at CSIS, he’s the real deal.

tip

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Thursday, December 15, 2016 8:53 AM

To: Pritzker, Tor <i

Subject:

??

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

The contents of this email message and any attachments are intended solely for the addressee(s) and may
contain confidential and/or privileged information and may be legally protected from disclosure. If you are not
the intended recipient of this message or their agent, or if this message has been addressed to you in error,
please immediately alert the sender by reply email and then delete this message and any attachments. If you are
not the intended recipient, you are hereby notified that any use, dissemination, copying, or storage of this
message or its attachments is strictly prohibited.

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may

HOUSE_OVERSIGHT_032944
"
IMAGES-005-HOUSE_OVERSIGHT_019958.txt,"election with the Russians, OMG! The anti-Trump world, and especially its media—that
is, the media—believed that there was a high, if not overwhelming, likelihood that there
was something significant there, and a decent chance that it could be brought home.

If the media, self-righteously, saw it as the Holy Grail and silver bullet of Trump
destruction, and the Trump White House saw it, with quite some self-pity, as a desperate
effort to concoct a scandal, there was also a range of smart money in the middle.

The congressional Democrats had everything to gain by insisting, Benghazi-like, that
where there was smoke (even if they were desperately working the bellows) there was fire,
and by using investigations as a forum to promote their minority opinion (and for
members to promote themselves).

For Republicans in Congress, the investigations were a card to play against Trump’s
vengefulness and unpredictability. Defending him—or something less than defending him
and, indeed, possibly pursuing him—offered Republicans a new source of leverage in their
dealings with him.

The intelligence community—with its myriad separate fiefdoms as suspicious of
Trump as of any incoming president in memory—would, at will, have the threat of drip-
drip-drip leaks to protect its own interests.

The FBI and DOJ would evaluate the evidence—and the opportunity—through their
own lenses of righteousness and careerism. (“The DOJ is filled with women prosecutors
like Yates who hate him,” said a Trump aide, with a curiously gender-biased view of the
growing challenge.)

If all politics is a test of your opponent’s strength, acumen, and forbearance, then this,
regardless of the empirical facts, was quite a clever test, with many traps that many people
might fall into. Indeed, in many ways the issue was not Russia but, in fact, strength,
acumen, and forbearance, the qualities Trump seemed clearly to lack. The constant
harping about a possible crime, even if there wasn’t an actual crime—and no one was yet
pointing to a specific act of criminal collusion, or in fact any other clear violation of the
law—could force a cover-up which might then turn into a crime. Or turn up a perfect
storm of stupidity and cupidity.

“They take everything I’ve ever said and exaggerate it,” said the president in his first
week in the White House during a late-night call. “It’s all exaggerated. My exaggerations
are exaggerated.”

OOK Ok

Franklin Foer, the Washington-based former editor of the New Republic, made an early
case for a Trump-Putin conspiracy on July 4, 2016, in S/ate. His piece reflected the
incredulity that had suddenly possessed the media and political intelligentsia: Trump, the
unserious candidate, had, however incomprehensibly, become a more or less serious one.

HOUSE_OVERSIGHT_019958
"
IMAGES-002-HOUSE_OVERSIGHT_013915.txt,"the web. Create a checkout page that connects to PayPal and you can (1) link to this checkout page from
your site on Weebly, WordPress.com, or elsewhere, or (2) drop the code into your own website and have
it hosted there. Wufoo is appropriate for testing and selling single products, as people can’t add multiple
items to a shopping cart or otherwise customize the order a la Amazon. For those additional options,
which are often desirable after successful testing, you will want to use an “end-to-end site solutions”
listed later in these resources.

Cost-Effective Trademark Filing and Company Formation (LLC, C-Corp, etc.)

Though I also have a C-Corporation (often used to issue common and preferred stock to investors),
created through the second option below, LLCs and S-Corps are generally favored by small businesses.
Consult your accountant to determine the best entity form.

» LegalZoom ( www.legalzoom.com )

Company formation, trademarks, and nearly all legal documents. I know one founder who used this
service to incorporate his tech start-up, which is now worth more than $200 million.

» Corporate Creations ( www.corporatecreations.com )

Domestic and overseas company formation.

Services for Selling Downloadable Products (e-books, videos, audio, etc., in descending order of
reader preference)

» E-Junkie ( www.e-junkie.com )

> Lulu ( www.lulu.com )

Lulu will also do print-on-demand and other forms of manufacture and fulfillment. Like Lightning
Source (www.lightningsource.com), it offers distribution through Amazon, Barnes & Noble online, and
other major outlets.

» CreateSpace ( www.createspace.com )
A subsidiary of Amazon.com that offers inventory-free, physical distribution of books, CD and DVDs on

Demand, as well as video downloads through Amazon Video On Demand“™,

HOUSE_OVERSIGHT_013915
"
IMAGES-005-HOUSE_OVERSIGHT_020101.txt,"22

GENERAL KELLY

n August 4, the president and key members of the West Wing left for Trump’s golf
() club in Bedminster. The new chief of staff, General Kelly, was in tow, but the
president’s chief strategist, Steve Bannon, had been left behind. Trump was grouchy about
the planned seventeen-day trip, bothered by how diligently his golf dates were being
clocked by the media. So this was now dubbed a “working” trip—another piece of Trump
vanity that drew shrugs, eye rolling, and head shaking from a staff that had been charged
with planning events that looked like work even as they were instructed to leave yawning
expanses of time for golf.

During the president’s absence, the West Wing would be renovated—Trump, the
hotelier and decorator, was “disgusted” by its condition. The president did not want to
move over to the nearby Executive Office Building, where the West Wing business would
temporarily be conducted—and where Steve Bannon sat waiting for his call to go to
Bedminster.

He was about to leave for Bedminster, Bannon kept telling everyone, but no invitation
came. Bannon, who claimed credit for bringing Kelly into the administration in the first
place, was unsure where he stood with the new chief. Indeed, the president himself was
unsure about where he himself stood; he kept asking people if Kelly liked him. More
generally, Bannon wasn’t entirely clear what Kelly was doing, other than his duty. Where
exactly did the new chief of staff fit in Trumpworld?

While Kelly stood somewhere right of center on the political spectrum and had been a
willing tough immigration enforcer at Homeland Security, he was not anywhere near so
right as Bannon or Trump. “He’s not hardcore” was Bannon’s regretful appraisal. At the
same time, Kelly was certainly not close in any way to the New York liberals in the White
House. But politics was not his purview. As director of Homeland Security he had
watched the chaos in the White House with disgust and thought about quitting. Now he
had agreed to try to tame it. He was sixty-seven, resolute, stern, and grim. “Does he ever
smile?” asked Trump, who had already begun to think that he had somehow been tricked
into the hire.

HOUSE_OVERSIGHT_020101
"
IMAGES-001-HOUSE_OVERSIGHT_011362.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

59
H3VOGIU1

jewelry, diamonds were his favorite, and wonderful furniture.

He was paying me very well because I'd give him sex whenever h

wanted,"" to which our client responded, ""If he was paying her

so well, why steal from her burger job in 2002?"" So it's

within our client's knowledge on January 6, 2015, and that is

an additional reason why it should be admitted going to her
state of mind or actual malice, as plaintiff likes to call it.

Your Honor, with respect to the school records, the

school records are what they are. They explain that she was in

school during th ntire time she claims that she was a sex
slave, it gives her numbers of days of attendance, I don't
understand why those records wouldn't be admitted in cross

examination of her as to her whereabouts at certain occasions.

Plaintiff certainly intends to introduce flight logs to show
that she was or wasn't in certain places, so school records
show where she was and wasn't on certain dates, and that's
important, your Honor.

Moreover, plaintiff is the one who told Sharon
Churcher about her own problems with school. She told Sharon

Churcher, and Sharon Churcher published with her authorization

that she went back to school to get her GED, and she wanted to

study for massage. She talked about dropping out of school.

Police records reflect the fact that she was a truant during

this period of time, that her mother was concerned about her

abusing drugs and alcohol. The school records intimately

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011362
"
IMAGES-005-HOUSE_OVERSIGHT_019780.txt,"292 | HOW AMERICA LOST ITS SECRETS

November, they made online bookings for quarters in Paris for the
nine attackers, Even though Abaaoud was well-known to Western
intelligence services, none of the communications surrounding the
preparations for the attack came to the attention of the NSA or its
allied services in Europe. A critical find for the investigators enabled
them to unravel the chain that eventually led them to the perpe-
trators, but it had nothing to do with electronic surveillance. A cell
phone belonging to one of them was found by the security forces,
following a broad search they conducted, which included trash cans
situated in the vicinity of the concert halls. So this breakthrough in
the investigation had nothing to do with systematic data analysis
conducted prior to the attack.

Indeed, in the sequence of the Paris events, as in other terror
events, the challenge is not just bringing culprits to justice. It is pre-
venting the terrorists from carrying out their attack to begin with.
Police cannot constantly protect “soft targets” such as restaurants,
cafés, theaters, and street gatherings. The only practical means by
which a government can prevent such attacks is to learn in advance

® their planning and preparations. One means of acquiring this infor- ®
mation is by listening in on the channels through which members
of loosely knit terrorist organizations, such as ISIS, communicate.
This form of intelligence gathering obviously works best so long
as the terrorists remain unaware that the communication channels
they are using are being monitored. Once they find out that their
messages and conversations are being intercepted, they will likely
find a safer means to communicate important information. For that
reason, communications intelligence organizations keep the sources
and methods they employ for monitoring these channels in a tightly
sealed envelope of secrecy.

Yet, in June 2013, the NSA found that envelope had been breached
by Snowden, who knowingly compromised three programs that it
used to keep track of terrorist organizations around the world. The
first system he divulged, and the one that received the most public
attention, was what the NSA called the “215” program because it
had been authorized by Section 215 of the Patriot Act of 2001. This
program compiled the billing records of every phone call made in
America. The data included the number called and the duration of

| | Epst_9780451494566_2p_all_r1.indd 292 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019780
"
TEXT-001-HOUSE_OVERSIGHT_031383.txt,"﻿From: gmax1@ellmax.com
To: J Jep jeevacation@gmail.com; 
Subject: Re: 
Sent: 4/2/2011 2:15:40 PM

Did you have a chance to look at the potential idea of having people fulfill there contract with Sunrise? Just want to know what you think as this is something you know well..as it says int he article the only thing that you don’t get a pass on is poverty..


On 4/2/11 9:02 AM, ""J Jep"" <jeevacation@gmail.com> wrote:



	http://www.thedailybeast.com/blogs-and-stories/2011-04-01/bill-clinton-katie-couric-woody-allen-jeffrey-epsteins-society-friends-close-ranks/2/
	

"
IMAGES-011-HOUSE_OVERSIGHT_032242.txt,"From: Michael Wolff

Sent: 2/24/2016 3:14:36 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

Yeah, you're the Trump bullet.

On Wed, Feb 24, 2016 at 10:12 AM, jeffrey E. <jeevacation@gmail.com> wrote:

Lots of reporters

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032242
"
TEXT-001-HOUSE_OVERSIGHT_026827.txt,"The Scowcroft Group 
900 17th Street, NW • Suite 500 
Washington DC 20006  
Phone 
www.scowcroft.com 
From: Kevin Neater 
Date: November 14, 2015 
Terrorism - Metrojet and Paris Mark Externalization of ISIS Threat 
It has been a consensus view in the US and Europe that the dangers posed by ISIS included metastasizing into other 
Middle Eastern and African countries -- something that Turkey has already experienced and Saudi Arabia and others 
likely face. Europe was believed to be at less risk, although as the flow of refugees from Syria, Iraq, and Afghanistan 
increased, that risk has risen. 
The US and everywhere else were thought to be tertiary targets, subject to opportunistic attacks but 
almost a distraction to ISIS (cf. Al Qaeda), given its preoccupation with exploitation of Sunni/Shia 
divisions and goal of regional territorial gains. Remember, ISIS' military leadership largely is drawn from 
Sunnis who were a part of Saddam's military; they are motivated by revenge for how they have been treated by the 
Shia-dominated post- Saddam Iraqi government.) 
Last week's Metrojet bombing in Egypt, the suicide attacks Thursday in a Shiite neighborhood of 
Beirut, and yesterday atrocities in Paris all demonstrate an unexpected level of sophistication and 
effort. As a result, European countries and the US are likely to see an increase in incidents and threats that harken 
back to Al Qaeda's early agenda or are comparable to the Black September and early Hezbollah attacks of the '70s. 
What are the consequences? 
• ISIS can be expected to undertake further spectacular attacks. It has eclipsed AQ in operational capability, 
financing, and recruitment. It is not only the wealthiest terror group in history, but one with global reach 
and ambitions. (The Obama Administration's claims that ISIS is contained now look naive, and that 
characterization will haunt President Obama and Democrats next year.) 
• Expect a significant uptick in ELI, US, and Russian engagement against ISIS in the Iraq/Syria theater, but 
also in Europe. The failure to detect this elaborate scheme (no less complex because it was ""low tech"" -- so 
was 9/11) will prompt European security and intelligence agencies to take a much more intrusive and 
perhaps even confrontational approach both to indigenous Muslim groups and to arriving refugees. While 
that risks a feed-back loop, the instinct will be to err on the side of immediate results, not impact on 
radicalization as a social challenge. 
• Germany and other ELI nations will have to re-examine their commitments to welcome more refugees from 
the Middle East, and British opposition to allowing refugees, already strong, will harden. The scale of the 
Paris attacks will energize right-wing politics and pressure center-left governments to make threat reduction 
a higher priority than humanitarian concerns. 
CD The Scowcroft Group 
WARNING: This document and the information contained herein are intended only for the personal and confidential 
use of clients of The Scowcroft Group. If you are not an intended recipient of this document, you are hereby notified 
that you have received this document in error and that any review, dissemination, distribution, copying, quotation, or 
other use of this document without the prior approval of The Scowcroft Group is strictly prohibited. 
HOUSE OVERSIGHT 026827 
The Scowcroft Group 
900 17th Street, NW • Suite 500 
Washington, DC 20006  
Phone 
www.scowcroft.com 
• The universal horror at what happened in Paris is likely to strengthen the determination of countries 
gathered in Vienna for the Syria conference to better coordinate and prosecute the campaign against ISIS in 
Syria and Ira. 
Bottom Line: Has risk to the United States increased? There are no indications yet that ISIS has changed its 
approach here. It encourages radicalization and lone wolf attacks but has not mounted direct attacks. But the 
Metrojet bombing has resulted in a stepped up global effort to secure American airlines. So too, targeting of 
American institutions/events — it is unlikely a coincidence that an American band was playing at the site of the largest 
causalities in Paris -- seems highly probable. This applies equally to American bases and facilities overseas, including 
embassies. 
CD The Scowcroft Group 
WARNING: This document and the information contained herein are intended only for the personal and confidential 
use of clients of The Scowcroft Group. If you are not an intended recipient of this document, you are hereby notified 
that you have received this document in error and that any review, dissemination, distribution, copying, quotation, or 
other use of this document without the prior approval of The Scowcroft Group is strictly prohibited. 
HOUSE OVERSIGHT 026828 
"
IMAGES-001-HOUSE_OVERSIGHT_011404.txt,"10

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life)

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25

101
H3vlgiu2

r

MR. CASSELL: All right. Well, we thought, when we

filed our response, they continued to oppose it. If they had
just stipulated, you know, I wouldn't be taking your Honor's

time.

But this is where I think they're taking a narrow

uncontested principle, that her net worth doesn't come in, and

are going to try to use it to exclud vidence that Ms. Maxwell
is making payments to the girls, that this mansion is a very --

THE COURT: Well, okay. I don't think so.

MR. CASSELL: Let me just make sure that I have on the

table the things that we want to introduce.

For example, Mr. Epstein purchased a helicopter for

Ms. Maxwell, and they might say, oh, well, that shows financial
status or something. We think that shows a very close
connection.

Well, the last one and perhaps the most controversial

one in connection with this case is the townhouse. It is our
belief that a -—-

THE COURT: Well, wait a minute. What's the basis of

your belief?

MR. CASSELL: The basis for our belief is, I believe

they've conceded that there was a sale of a $17 million

townhouse in 2016.

THE COURT: Okay. Is it the defendant's townhouse?

a]

MR. CASSELL: Yes. So the question is --

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011404
"
IMAGES-010-HOUSE_OVERSIGHT_028653.txt,"Economics. They made Saddam Hussein one of the 10 wealthiest people
in the world. Besides, sanctions create sanctions-busting which, like drugs,
is a global criminal industry born entirely of the idiocy of western
diplomacy.

A year ago the Foreign Office defended yet another round of sanctions
against Tehran on the grounds they would ""hasten Iran's economic

collapse and deepen rifts within the regime, in the hope that saner voices
will deem the price of pursuing nuclear weapons too high"". Economies
don't collapse, any more than poverty changes governments. Even Greece,
now the most ""sanctioned"" nation in Europe, has not collapsed. Places just
get poorer. As for ""saner voices"", they go into exile, hiding or prison.
That's where sanctions send them.

Iran is a proud nation of 80 million mostly Muslim people, one of many
Asian and African states struggling between theocracy and democracy,
tradition and modernity. These are agonising struggles among and within
peoples, to which the west has contributed nothing but hostility and
belligerence. Under the cloak of ""counter-terror"", it has been as crass as it
was during the Crusades. Of course no one wants to see nuclear weapons
spread. Russia tried to stop China getting them. China tried to stop North
Korea. The west tried to stop India and Pakistan, while hypocritically
tolerating Israel and the replenished arsenals of France and Britain. No
pressure made the slightest difference to anyone.

If Iran really wants a nuclear weapon, it will get one — the more so when it
is threatened with dire retribution if it does. That is how such states react
to pressure. Ever since the dodgy election of 2009, threats and sanctions
have not weakened the regime's determination to proceed, but rather
weakened opposition to it. If ever there was a country unlikely to respond
to diplomatic bullying, it is Iran. If ever there was a country that might
respond to constructive engagement, to commercial, governmental and
cultural intercourse, it is also Iran. Why the west should want to make it
another North Korea passes comprehension.

Article 3.

HOUSE_OVERSIGHT_028653
"
IMAGES-004-HOUSE_OVERSIGHT_017482.txt,"4.2.12
WC: 191694

Gigi Jordan

I am currently representing a woman named Gigi Jordan, who admittedly killed her 8 year old
severely autistic child and tried to take her own life at the same time. There is considerable
evidence that her child was being sexually abused by his biological father and Gigi was in great
fear that her former husband was trying to kill her. If he succeeded, she believed that her autistic
child would be left at the mercy of his sexually abusive father. Gigi decided that this horrible
choice of evils required her to protect her child in the only way she knew how: by ending his life
along with hers. We are in the process of preparing for her trial.

395

HOUSE_OVERSIGHT_017482
"
IMAGES-011-HOUSE_OVERSIGHT_031993.txt,"VVVVVVVVVVVVVVV VV V

co
me
th
re
no
co
co
ma
co

confidentiality Notice: The information contained in this electronic
message is PRIVILEGED and confidential information intended only for the
use

of the individual entity or entities named as recipient or recipients. If
the reader is not the intended recipient, be hereby notified that any
dissemination, distribution or copy of this communication is strictly
prohibited. If you have received this communication in error, please
notify

me immediately by electronic mail or by telephone and permanently delete
this message from your computer system. Thank you.

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments.

nfidentiality Notice: The information contained in this electronic
ssage is PRIVILEGED and confidential information intended only for
e use of the individual entity or entities named as recipient or
cipients. If the reader is not the intended recipient, be hereby
tified that any dissemination, distribution or copy of this
mmunication is strictly prohibited. If you have received this
mmunication in error, please notify me immediately by electronic
il or by telephone and permanently delete this message from your
mputer system. Thank you.

HOUSE_OVERSIGHT_031993
"
IMAGES-006-HOUSE_OVERSIGHT_021919.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

96

Q. All right. Let me just clarify one point
before you do that?

A. Yes, sir.

Q. In your answer, were you referring to the
evidence you could recall or the information you could
recall that supported your allegations as to both
Virginia Roberts and other minors or were you treating
those separately?

A. No, I was not treating those separately. I
was -- for me, there's a common -- what the law refers
to as a common scheme or plan in a criminal conspiracy
for international trafficking that involved not just a
single girl, but multiple girls, so the answer was --
was with respect to multiple girls.

Q. Okay. So I may have some questions to
distinguish further between those two --

A. Yes.

Q. -- but is it fair to say that -- and I
realize you're going refresh your recollection, but that
you had exhausted your recollection of the basis for the
allegation in this Exhibit 2, the motion to join as to
both Miss Roberts and other minors?

A. Yes.

Q. Okay. So then now take a look at that and

tell me if there's anything there that refreshes your

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021919

"
IMAGES-004-HOUSE_OVERSIGHT_016944.txt,"and have the results analyzed by the various stakeholders—trather like elected legislatures
were originally intended to do.

If we have the data that go into and out of each decision, we can easily ask, Is this
a fair algorithm? Is this AI doing things that we as humans believe are ethical? This
human-in-the-loop approach is called “open algorithms;” you get to see what the Als take
as input and what they decide using that input. If you see those two things, you’ll know
whether they’ re doing the right thing or the wrong thing. It turns out that’s not hard to
do. If you control the data, then you control the AI.

One thing people often fail to mention is that all the worries about AI are the same
as the worries about today’s government. For most parts of the government—the justice
system, et cetera—there’s no reliable data about what they’re doing and in what situation.
How can you know whether the courts are fair or not if you don’t know the inputs and the
outputs? The same problem arises with AI systems and is addressable in the same way.
We need trusted data to hold current government to account in terms of what they take in
and what they put out, and AI should be no different.

Next-Generation AI

Current AI machine-learning algorithms are, at their core, dead simple stupid. They
work, but they work by brute force, so they need hundreds of millions of samples. They
work because you can approximate anything with lots of little simple pieces. That’s a
key insight of current AI research—that if you use reinforcement learning for credit-
assignment feedback, you can get those little pieces to approximate whatever arbitrary
function you want.

But using the wrong functions to make decisions means the AI’s ability to make
good decisions won’t generalize. If we give the AI new, different inputs, it may make
completely unreasonable decisions. Or if the situation changes, then you need to retrain
it. There are amusing techniques to find the “null space” in these AI systems. These are
inputs that the AI thinks are valid examples of what it was trained to recognize (e.g.,
faces, cats, etc.), but to a human they’re crazy examples.

Current AI is doing descriptive statistics in a way that’s not science and would be
almost impossible to make into science. To build robust systems, we need to know the
science behind data. The systems I view as next-generation Als result from this science-
based approach: If you’re going to create an AI to deal with something physical, then you
should build the laws of physics into it as your descriptive functions, in place of those
stupid little neurons. For instance, we know that physics uses functions like polynomials,
sine waves, and exponentials, so those should be your basis functions and not little linear
neurons. By using those more appropriate basis functions, you need a lot less data, you
can deal with a lot more noise, and you get much better results.

As in the physics example, if we want to build an AI to work with human
behavior, then we need to build the statistical properties of human networks into
machine-learning algorithms. When you replace the stupid neurons with ones that
capture the basics of human behavior, then you can identify trends with very little data,
and you can deal with huge levels of noise.

The fact that humans have a “commonsense” understanding that they bring to
most problems suggests what I call the human strategy: Human society is a network just
like the neural nets trained for deep learning, but the “neurons” in human society are a lot

141

HOUSE_OVERSIGHT_016944
"
IMAGES-003-HOUSE_OVERSIGHT_015093.txt,"existence, and there was an overwhelming temptation to remain in that
blissful limbo. Yet there was also something in me that kept saying
“Don’ t give up!"" It was my survival instinct speaking.

But why not give up? What was there left for me? The answer came
to me by the same extraterrestrial path it had come to Ike: 7e// the truth!
That was the turning point of my life. And these memoirs are the tangible
result of my transformation. No one shall be spared, least of all myself.

Those hairless creatures told me that President John F. Kennedy had
also been visited by their kind. His father, old Joe Kennedy, had gotten rich
off illegal booze during Prohibition, and you can be certain that the
underworld bootleggers he was tied up with were not about to dissolve
their silent partnership in this huge liquor industry they had built up,
simply because Prohibition had been repealed. Yet there was Joe
Kennedy’ s own son, Jack—not to mention his brother Bobby—refusing
to cooperate any longer in allowing organized crime to have a comeback
in Cuba, and furthermore, going after organized crime in th/s country. At
best this was ingratitude; at worst it was treason.

But | finally understood the extraterrestrial force that had motivated
young Kennedy. And so now | am ready to peel away the final layers of my

poker-face mask.

HOUSE_OVERSIGHT_015093
"
IMAGES-007-HOUSE_OVERSIGHT_022859.txt,"victims here’’d.

Dershowitz, with chest pounding bravado, rejects a series of lower-level plea
deals and Palm Beach District Attorney Barry Krischer takes the unusual step of
empanelling a grand jury, which returns with a recommendation of a single count
of soliciting a prostitute—a charge without jail time. (And Epstein can apply to
have his record expunged after a year.)

At which point, Reiter, the police chief, at odds with the District Attorney’s
office, recruits the involvement of the FBI. This is of course the Bush-era FBI and
Epstein presents quite the Clinton-connected scandal. Still, solicitation, even of a
minor, is not a federal crime. The FBI hits on the novel interpretation that if
Internet solicitation can be considered interstate commerce, so can telephone
solicitation, permitting them to begin a deep dive investigation into Epstein’s
friends, many of whom receive subpoenas and are threatened with prosecution.

It’s all quite in the eye of the beholder: On the one end, Epstein is paying for
sex acts (Epstein paid $200 for a massage with or without happy ending), on the
other, he is abusing teenage girls. It’s a catch-22: How can a girl not old enough to
vote be a prostitute? And yet, many girls not old enough to vote are without a
doubt prostitutes.

Compounding Epstein’s predicament, the world outside of his carefully
constructed and controlled environment is someplace that he seems not just
ill-equipped to handle but in which he seems to be blindly grouping about (i.e. he’s
totally tone deaf). I visited him once during this time and found him weighing the
conflicting advice of some of the most vaunted and egomaniacal lawyers (along
with Dershowitz and Black, celebrity criminal attorney, Gerald Lefcourt, and
Clinton prosecutor, Ken Starr) of the day—anyone with new advice, Epstein
seemed to hire—as well as a catchall of the leading crisis managers, who he
seemed to retain at will, all wrangling for fees and primacy.

Certainly, the upshot of his dealings with the Justice Department seem to
involve a through-the-looking-glass logic. The government threatens to prosecute
him (with the possibility of a 10-year sentence) and various friends, associates, and
lovers, or offers what seems to be unprecedented arrangement in which Epstein’s
lawyers (not federal prosecutors, but Epstein’s lawyers, in some ultimate act of self
incrimination) have to go to the Palm Beach authorities and convince them to up
the charges to an offense that will send him to jail and get him a sex offender
status. Except that a solicitation charge won’t produce that result. Therefore he has
to get them to agree to a procurement or pimping charge (even though he has paid
money, not received it—the sine qua non of pimping). What’s more, in a unique, if
not unprecedented arrangement, he has to agree to pay the legal fees of any of the
girls who want to sue him—and, agree not to defend himself from their
suits—forcing him to settle with each of the girls for what are reportedly high

HOUSE_OVERSIGHT_022859
"
IMAGES-009-HOUSE_OVERSIGHT_027493.txt,"Time: 11/18/18 02:49:36 PM (564274176)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: CF2111BF-B1A6-4395-82C7-D5E763125!

Gl
oO
Ne}

Message: Standby

Sender: e:jeeitunes@gmail.com

Time: 11/18/18 03:28:41 PM (564276521)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 9263E14E-CDC9-4F7B-BE25-6EC7605694AA

Message: ?

Sender: e:jeeitunes@gmail.com

Time: 11/18/18 04:08:44 PM (564278924)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: 8C46E178-73F7-4557-A6C1-D159C58 90730

Message: When Lewis appeared before Congress in 1993 to testify in favor of protections
for children's television, Lamb Chop was granted permission to speak. maybe you

should bring lamb chop tomorrow

Time: 11/18/18 04:13:57 PM (564279237)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: FD6F5C63-EA4C-4229-893E-A9909DD475AF

Message: Don't fuck with 'the chop'

Sender: PY

Time: 11/19/18 05:25:57 AM (564326757)
Flags: 1060865

Is Read: Yes

Is Invitation: No

zh

GUID: A2D8F648-93F2-453E-A634-2C6590182E1C

25

Message: Thanks

Sender: e:jeeitunes@gmail.com

Time: 11/19/18 04:18:54 PM (564365934)

HOUSE_OVERSIGHT_027493
"
IMAGES-008-HOUSE_OVERSIGHT_025815.txt,"On Sep 19, 2014 3:00 PM, ""jeffrey E."" <jeevacation@gmail.com > wrote:
double whoops

On Fri, Sep 19, 2014 at 2:59 PM, Kathy omnes | wrote:

Yep. And now he is a repeat offender.

On Sep 19, 2014 2:58 PM, ""jeffrey E."" <jeevacation@gmail.com > wrote:

and thats after turning down misdeameors? whoops
On Fri, Sep 19, 2014 at 2:57 PM, Kathy Ruemmlc ii 501:
Reid's guy went down on all 7 counts.

On Sep 19, 2014 8:01 AM, ""Kathy Ruemmler"" i wrote:

Yes, trains exist -- people ride them to get from one place to another.....germ factories, however. DC today,
back in NY on Sunday morning.

On Sep 19, 2014 7:57 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote:

train? yes , 1 will be like the emergency room doctor at lenox hill, put that crazy in room 1, gunshot in
surgery, and the

""cook"" welll -- he can wait

On Fri, Sep 19, 2014 at 7:54 AM, Kathy Rucmn lc otc:

Doesn't look like you are prioritizing your schedule very effectively
that? this is unga week so the boss will be in town too
me....just sat down on the train so can't talk freely.

bees how are you going to manage all of
— I'll be here all week -- you may get sick of

On Sep 19, 2014 7:48 AM, ""jeffrey E."" <jeevacation@gmail.com > wrote:
""girls?"",, careful 1 will renew an old habit, . this week, thiel, summers,bill burns, gordon brown,

jagland, ( council of europe and nobel chairman ). mongolia pres , hardeep puree ( india), boris ( gates).
jabor (qatar ). sultan ( dubai, ), kosslyn ( harvard), leon black, woody. you are a welcome guest at

any..... also if you think there are interesting people in town, everyone here for climate summit , clinton
ssecurity council, holy shit im . next 30 minutes

On Fri, Sep 19, 2014 at 7:15 AM, Kathy Ruemmler ee 0%:

Most girls do not have to worry about this crap.
On Sep 19, 2014 7:09 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote:

understood. it comes down to high risk /reward / low risk / reward. professional , emotional. and
financial

HOUSE_OVERSIGHT_025815
"
IMAGES-007-HOUSE_OVERSIGHT_022681.txt,"sk , BREE WTEC

USM Nie, Te5S$ ie

ne
re
ol belek

View this image >

Palm Beach County Court

Among the other people who most frequently flew with Clinton are Maxwell and Adriana Ross (formerly Adriana Mucinska), another
Epstein assistant and a former model. The logs also show him flying with former advisor Ira Magaziner, ex-Transportation Secretary

Rodney Slater, and fashion model Naomi Campbell.

The pilots’ documents also leave numerous and — understandably — intriguing questions unanswered: Clinton was on four flights with
women identified as only “Janice” and “Jessica,” who have not been identified; he once flew with a person identified only as “one
female” and also, during part of the trip throughout Africa, a young woman named Chauntae Davies, who appears in Epstein’s phone
directly under the massage category and whose expertise in Swedish massage was described in Gawkers story mentioning her last
week. And because the entries are hand-written in a very cramped log form, it’s impossible to know if important names ended up

illegible or left out altogether, nor if there are other logs that have not been revealed.

But based on what's in the court files, there are no further clues about those flights, other than the testimony and public statements of
Roberts, who has described the airplane as a kind of high-altitude Gomorrah. What is on the record is a deposition of Larry Visoski, one
of Epstein’s former pilots, who recalls having Clinton on his plane as many as 20 times. When asked, “Do you remember him being on

the airplane with younger girls?” Visoski replies, simply, “No.”

Clinton flew literally around the world with Epstein, traveling from New York to London, to Hong Kong, Singapore, Thailand, Morocco,
Portugal, Russia, and throughout Africa. In almost every case, according to cross-referenced information on his speaking engagements,
Clinton was apparently traveling for professional reasons, and, according to the logs, he never flew with his wealthy friend anywhere

near the U.S. Virgin Islands.

That does little to bolster statements by Roberts, who in a 2011 conversation with her lawyers (which both Vew York Post's Page Six

and Radar Online described as an “interview”) claimed Clinton traveled to Epstein’s infamous retreat on Little St. James Island in 2002.

Earlier this month, it was reported that Roberts is writing a “tell-all” memoir about her experiences. In a sworn affidavit filed in court
last week, she claimed to have had sex with Epstein, Dershowitz, England’s Prince Andrew, and several other men on numerous
occasions, and portrayed a three-year period ending in 2002 when Epstein passed her off to his friends continually. But, she added, “I
have never had sexual relations with Clinton, nor have I claimed to have had such relations. I have never seen him have sexual

relations with anyone.”

HOUSE_OVERSIGHT_022681
"
IMAGES-009-HOUSE_OVERSIGHT_026955.txt,"Investment
Management

US Military Signals Readiness to Respond Division

Abraham Lincoln Carrier Strike Group and Kearsarge Amphibious Ready Group — May 17, 2019

= The US deployed the USS Abraham Lincoln Carrier Strike Group and a bomber task force to the Middle East in early
May in response to intelligence regarding Iranian military activity.

11
HOUSE_OVERSIGHT_026955

Source: Investment Strategy Group, navy.mil, New York Times.
"
IMAGES-011-HOUSE_OVERSIGHT_031987.txt,"Job” offers a sweeping synthesis, going as far back as the Reagan administration and as far afield as
Iceland in its anatomy of the financial crisis.

Perhaps unsurprisingly, many of the highest-profile players declined to be interviewed. Mr. Summers
appears only in news footage, and none of his predecessors or successors as Treasury secretary — not
Robert E. Rubin or Henry M. Paulson Jr. or Timothy F. Geithner -— submit to Mr. Ferguson’s questions. Nor
do any of the top executives at Goldman Sachs or the other big banks. Most of the interviewees are, at
least from the perspective of the filmmaker, friendly witnesses, adding fuel to the director’s
comprehensive critique of the way business has been done in the United States and the other advanced
capitalist countries for the past two decades.

Both American political parties are indicted; “Inside Job” is not simply another belated settling of
accounts with Mr. Bush and his advisers, though they are hardly ignored. The scaling back of government
oversight and the weakening of checks on speculative activity by banks began under Reagan and continued
during the Clinton administration. And with each administration the market in derivatives expanded, and
alarms about the dangers of this type of investment were ignored. Raghuram Rajan, chief economist at the
International Monetary Fund, presented a paper in 2005 warning of a “catastrophic meltdown” and was
mocked as a “Luddite” by Mr. Summers.

Meanwhile, some investment bankers -— at Goldman Sachs in particular — were betting against the positions
they were pushing on their customers. An elaborate house of cards had been constructed in which bad
consumer loans were bundled into securities, which, were certified as sound by rating agencies paid by
the banks and then insured via credit-default swaps. One risky bet was stacked on top of another, and in
retrospect the collapse of the whole edifice, along with the loss of jobs, homes, pensions and political
confidence, seems inevitable.

How did this happen? Mr. Ferguson is no conspiracy theorist; nor is he inclined toward structural or
systemic explanations. Markets are not like tectonic plates, shifting on their own. Visible hands write
laws and make deals, and in this case a combination of warped values and groupthink seems to have driven
very intelligent men (and they were mostly men) toward folly. In addition to business and government, Mr.
Ferguson aims his critique at academia, suggesting that the discipline of economics and more than a few
prominent economists were corrupted by consulting fees, seats on boards of directors and membership in
the masters of the universe club.

when he challenges some of these professors, in particular those who held positions of responsibility in
the white House or in the Federal Reserve, they are reduced to stammering obfuscation -— Markets are
complicated! who could have predicted? I don’t see any conflict of interest — and occasionally provoked
to testiness. Mr. Ferguson, for his part, cannot always contain his incredulity or rein in his sarcasm.
Occasionally his voice pipes up from off camera, saying things like, “You can’t be serious!”

But it is hard to imagine a movie more serious, and more urgent, than “Inside Job.” There are a few
avenues that might have been explored more thoroughly, in particular the effects of the crisis on
ordinary, non-wall-Street-connected workers and homeowners. The end of the film raises a disturbing
question, as Mr. Damon exhorts viewers to demand changes in the status quo so that the trends associated
with unchecked speculation of the kind that caused the last crisis - rising inequality, neglect of
productive capacity, endless cycles of boom and bust -— might be reversed.

This call to arms makes you wonder why anger of the kind so eloquently expressed in “Inside Job” has been
so inchoate. And through no fault of its own, the film may leave you dispirited as well as enraged. Its
fate is likely to be that of other documentaries: praised in some quarters, nitpicked in others and
shrugged off by those who need its message most. which is a shame.

“Tnside Job” is rated PG-13 (Parents strongly cautioned). Some drug and sex references and pervasive
obscenity, though not the verbal kind.

KABA AKAKAKAEA BAKES EARS AE EERE EERE AEE EES NWA AEA

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_031987
"
IMAGES-004-HOUSE_OVERSIGHT_017496.txt,"DrwAINO B® WNYFH

OnwAnvroewwWNH-E

Oo

Q. You didn't keep track of it?

A. J did not keep track of it. From time to
time Russ and the other guys in the tort group would
tell me what was going on in certain cases, but until
I made a decision to utilize that file for an illegal

purpose related to something illegal that ] was doing
along with my co-conspirators, | just assumed my
Jawyers were going to work the case and eventually it
would hopefully work out well for the law firm.

Q. At your firm, when e-mails would go out to
attorneys at RRA or all attorneys at RRA, were you
part of that e-mail group?

. You are talking about all staff?
. No, all it says is attorneys at RRA.

It's the e-mail group ""attorneys""?

Yes.

Yes, I'm a part of that e-mail group.

And ] appreciate that you were very busy and
may t not have read all of them, but you did receive
those e-mails when they would go around?

A. Yes, and 1 tried my best to read them.

Q. Okay. At what point did you decide to use
this case to further your Ponzi scheme?

A. 1 don't remember the date, but I can give
you the circumstances, if you'd like.

Page 223

Q. Please do.

A. The Ponzi scheme was running very low on
capital. My co-conspirators and ] needed to find a
new feeder fund, new investment sources. We had a
couple of very large, significantly wealthy potential
investors out there. I was looking for something that
would have been very attractive. We had had a lot of
inquiry during the due diligence period with these
people that were doing due diligence on the putative

cases that we were selling. And when | thought about

the Epstein case, realizing that it was a substantial

actual file in the “office, I came up with the idea
that if ] created a fake confidential settlement
circling around -- based upon this actual case, they
would be able to increase the level of due diligence

that I was able to offer to my potential investors.
Q. How did you know this was a substantial file

in your office at that time?

A. Again, through the people J spoke to in the
office.

Q. Such as who?

A. Again, same people, Adler, Farmer, Jaffe,
Fistos.

Q. You never spoke to Brad about this case?
A. I didn't say that, but J had a Jot more

Page 23

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tenor

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sauacetaen

OerWnNor COU WHA DY fF WNYEH DO DTA DY SF WN EF

PSS ERASE EP NG OR EPA IRA I Se RS A RRS SR RH SSM TE RIES RM
NMONNDM NYDN HPF FE PRP PB

a

NNNNNRFPRP RPE PRE ER
BWHrRPOW MIDE DBWNHE OW DIRDUBWNHE

Ne)
on)

interaction --

Sorry, Tonja, | didn't mean to speak over
you.

If you talk to the people in the firm, if
they are honest with you, they'll tell you my
interaction was far more significant with Russ Adler,

probably more so because he was a co- he was a co-conspirator of of
mine, My interaction with Russ was | Russ was far greater b greater by

many, many percents over my interaction with Brad, and

then you go down the line. ] had more interaction
with Mr. Farmer than I did with Mr. Fistos, more
interaction with Jaffe than ] did with Mr. Edwards,
and so on.

Q. Russ was the head of your tort group, right?

A. Yes.

Q. So these cases fel] under the tort group; is
that correct?

A. Yes, it fell under the -- fel] under Russ’
purview ultimately, yes.

Q. And Brad was a partner at your firm during
the time these cases were there, correct?

A. ] believe that was his title. He was either
partner or shareholder. J] don't think we had made him
a shareholder yet.

Q. But he wasn't coming in as an associate,

Page 24
correct?

A. To the best of my recollection, no.

Q. So you stated that you learned this case
was -- ] don't want to misquote you and listen to a
long speaking objection, but what did you call this
case?

MR. SCAROLA: Who wants the quote?
THE WITNESS: It was a substantial case
with a -- what | perceived to be a highly collectible
pedophile as a defendant.
BY MS. HADDAD:

Q. Right. How did you know at the time when
you said these investors wanted to investigate and you
said you were going to create a fake settlement, how
did you know that this case was the case that you
could use?

A. From talking to all the people that I just
said, Adler, Fistos, Jaffe, Farmer, Mr. Edwards, to
the extent that ] spoke to him about it.

Q. Did you speak with Mr. Edwards about the
case?

a: 1 GON NSPE ac pesinocrceollection one Way
or the other. ] remember speaking to him at least
briefly the day or the day of or the day before the
actual investor's due diligence was going on as to

Page 25

7 (Pages 22 to 25)

FRIEDMAN, LOMBARDI & OLSON

305-371-6677
5ed93085-0554-447f-bcdd-ca2d8fe941 df

HOUSE_OVERSIGHT_017496
"
IMAGES-003-HOUSE_OVERSIGHT_015087.txt,"in front of him, the first thing Johnson would do now is kill him.” She
smiled sardonically, adding, “Unless Bobby beat him to it.”
Postscript:

The most significant thing about “The Parts Left Out of the
Kennedy Book” was its widespread acceptance--if only for a moment--by
intelligent, literate people, from an ACLU official to a Peabody Award-
winning journalist to members of the intelligence community who knew
that sort of thing actually does go on. Daniel Ellsberg said, “Maybe it was
just because | wanted to believe it so badly.”

One caller claimed that he could determine, by feeding the article
into a computer, whether Manchester had written the portions | published.
Several individuals queried that final arbiter of truth, the Playboy Adviser.
One reader “went out and bought the original Death of a President just
to see if your parts would fit into the book--they did. Amazing!”

| also received a call from Ray Marcus, a critic of the Warren
Commission Report, who had discovered a chronological flaw in my article.
How could William Manchester leave something out of his book that was
itself a report of something that he’ d left out of his book? Marcus
deduced that 7he Realist must have been given the excerpts by a CIA

operative in order to discredit va/id dissent on the assassination.

HOUSE_OVERSIGHT_015087
"
IMAGES-009-HOUSE_OVERSIGHT_026799.txt,"Should hedge funds and private equity funds be
worried about Washington? No.

- There continues to be chatter about dealing with carried interest. But chatter does not
mean action and we see little actual movement toward raising the rates on carried
interest through 2016.

- The new “tax reform” focused on hedge funds is projected to raise $11 billion a year.
somehow this gets done by allowing the IRS to audit hedge funds and find this amount
of unreported revenue annually. Good luck with that.

- Private Equity has also been a focus of political chatter - maybe we see new regulation
on the burgeoning “Shadow Banking” sector? Again, chatter is not action. There is little
chance Congress or regulators will move aggressively in this space through 2016.

- But “Big Banks” continue to take it on the chin: In an effort to raise revenue for the
Highway Trust Fund, Republicans have legislation moving forward that would drop the
guaranteed interest rate banks receive for “investing” in the Federal Reserve — which
they are required to do by law - from 6 percent to 1.5 percent. This will result in a
significant drop in revenues for some of the biggest banks in the US.

Deutsche Bank Francis J. Kelly
Global Public Affairs francis.j.kelly@db.com 5

HOUSE_OVERSIGHT_026799
"
IMAGES-001-HOUSE_OVERSIGHT_012119.txt,"Edwards adv. Epstein
Telephone interview with Virginia Roberts
Page 13 of 23

V: Yes. Just a normal flight, an e-ticket.
JS: Like the rest of us common folk.
V: But when I was traveling with Jeffrey, the majority of the time would be on the black jet.

JS: | Now, when you say there would be times when you would travel by yourself because he
was sending you somewhere, tell me about that. How did that come about?

V: So, one of his colleagues would be at the Carribean or Santa Fe or even New York, or
wherever, and he would call me up on those days where I am not working with him or in
Palm Beach with him, and he would ask me to get on the next plane to so and so and go
meet so and so, and that’s when I would take e-tickets. His secretary or special assistant,
whatever, would organize it for me and give me the details and I would just walk up the
line and they’d let me right through.

JS: Can you give me any ideas as to how many times it happened that Jeffrey would send
you off to meet some friend of his at some location outside of Palm Beach?

V: How many times it happened? I’m not too sure. Probably about 10-15 times.

JS: | Ok. And on those occasions, how much time would you spend with one of Jeffrey’s
friends when you were sent to a location that you would have to travel to?

V: Only a couple of days. Only 2 days, that’s it.

JS: And how were you paid for those trips?

V: I would be paid in cash upon my arrival back with Jeffrey. So, whenever I was back with
Jeffrey, he would count up how many days I’ve had, sometimes give me even more than
what I deserved, not deserved, but what I earned and give me a little extra.

JS: Was there a daily rate for those trips or was that per massage also?

V: Per massage. With Jeffrey, I would be honest. I wouldn’t tell him I did 15 massages if I
didn’t. He knew he could trust me. He could always come back to the other person that
he sent me to give massages and ask them as well, so you know, it was always by per

massage.

JS: Alright. When we’ve been talking about massages, tell me exactly what it is we’re
talking about when we speak about massages.

V: Same thing I would do to Jeffrey. Again, it would start out as a massage, which would
start with them being naked, and me giving him a legitimate massage to begin with, so

HOUSE_OVERSIGHT_012119
"
IMAGES-004-HOUSE_OVERSIGHT_016950.txt,"Computers, as a Tool for Creativity, Can’t Replace the Artist.

Rachel Rose, a video artist who thinks about the questions posed by AI, employs
computer technology in the creation of her works. Her films give the viewer an
experience of materiality through the moving image. She uses collaging and layering of
the material to manipulate sound and image, and the editing process is perhaps the most
important aspect of her work.

She also talks about the importance of decision making in her work. For her, the
artistic process does not follow a rational pattern. In a converation we had, together with
the engineer Kenric McDowell, at the Google Cultural Institute, she explained this by
citing a story from theater director Peter Brook’s 1968 book The Empty Space. When
Brook designed the set for his production of 7he Tempest in the late 1960s, he started by
making a Japanese garden, but then the design evolved, becoming a white box, a black
box, a realistic set, and so on. And in the end, he returned to his original idea. Brook
writes that he was shocked at having spent a month on his labors, only to end at the
beginning. But this shows that the creative artistic process is a succession whose every
step builds on the next and which eventually comes to an unpredictable conclusion. The
process is not a logical or rational succession but has mostly to do with the artist’s
feelings in reaction to the preceding result. Rose said, of her own artistic decision
making:

It, to me, is distinctively different from machine learning, because at each
decision there’s this core feeling that comes from a human being, which has to do
with empathy, which has to do with communication, which has to do with
questions about our own mortality that only a human could ask.

This point underlines the fundamental difference between any human artistic production
and so-called computer creativity. Rose sees AI more as a possible way to create better
tools for humans:

A place I can imagine machine learning working for an artist would be not in
developing an independent subjectivity, like writing a poem or making an image,
but actually in filling in gaps that are to do with labor, like the way that
Photoshop works with different tools that you can use.

And though such tools may not seem spectacular, she says, “they might have a larger
influence on art,” because they provide artists with further possibilities in their creative
work.

McDowell added that he, too, believes there are false expectations around AI.
“Tve observed,” he said, “that there’s a sort of magical quality to the idea of a computer
that does all the things that we do.” He continued: “There’s almost this kind of demonic
mirror that we look into, and we want it to write a novel, we want it to make a film—we
want to give that away somehow.” He is instead working on projects wherein humans
collaborate with the machine. One of the current aims of AI research is to find new
means of interaction between humans and software. And art, one could say, needs to
play a key role in that enterprise, since it focuses on our subjectivity and on essential
human aspects like empathy and mortality.

147

HOUSE_OVERSIGHT_016950
"
IMAGES-009-HOUSE_OVERSIGHT_027487.txt,"Time: 11/17/18 08:55:38 AM (564166538)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 50FA4596-FCF9-4356-8346-AE02A6EC9872

Message: Light the candle

Sender: e:jeeitunes@gmail.com

Time: 11/17/18 09:28:04 AM (564168484)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: O151ACDF-47BB-4EDD-94D5-5D525375E631

Message: :;)

Sender: e:jeeitunes@gmail.com

Time: 11/17/18 11:19:26 AM (564175166)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 72775769-3123-4F6E-AB6C-ACBC5BOA87B6

Message: Scale of 1 -10?

Sender: iii

Time: 11/17/18 11:39:54 AM (564176394)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: E373F6C2-2017-4C6E-A5E7-593EDB4C5924

Message: 9.5+

Sender: e:jeeitunes@gmail.com

Time: 11/17/18 11:47:01 PM (564220021)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: E1377683-246A-464D-9468-652D2864CC92

Message: Still planning nyc then de

Sender: e:jeeitunes@gmail.com
Time: 11/17/18 11:47:04 PM (564220024)

Flags: 1085445

HOUSE_OVERSIGHT_027487
"
IMAGES-008-HOUSE_OVERSIGHT_025801.txt,"MO: If Kurds have military confrontation with NAM, our response will depend on
circumstances.

Pawlenty: What lessons have we learned and what lessons has NAM learned?

MO: NAM knows that when he leaves office, he could be prosecuted and put in
jail. This will inform his actions. Syria and Iraq: would be in our interests if Syria
issue was not seen as Sunni v Shia. We would like an opposition that is more broad
based. Barzani could help by trying to get Syrian Kurds integrated into Syrian
opposition. Baghdad-Ankara relationship is very bad. They want to get rid of
NAM so pushing Iraqi Kurds to make trouble for NAM. This could be a gross
miscalculation. Davutaglu is personally driving a better deal for Sunnis in Iraq.

Post 3
MENA: trade, aid and economics

TJP summary: Arab Spring or Islamic Awakening has changed the game in
knowable and unknowable ways. Knowable is that the region — in addition to its
political crisis - is facing the potential of a very serious financial crisis. Financial
stabilization is first order of business. Egypt and KSA are the mother of all
problems in the region. (besides Iran, Pakistan and Syria). If Egypt or KSA get out
of control it is a global game changer.

Kito de Boer McKinsie UAE
Arab Spring has had significant and negative financial consequences for region.
1. Not biz as usual. Outcomes are very uncomfortable. Think in terms of paths
that could be models: Pakistan or Indonesia or Turkey.
2. Libya could be lighthouse of progress in region;

HOUSE_OVERSIGHT_025801
"
IMAGES-009-HOUSE_OVERSIGHT_026941.txt,"Cassandra Church/Starburns Audio

On performing stand-up about being single without sounding
‘hacky’

RELATED IN ENTERTAINMENT

<190321-wilstein-sarah-silverman-tease_tjmvn0.jpeg>

Sarah Silverman Throws Hulu Under the Bus: ‘F*ck It
<190318-last-laugh-trailer-tease_q5y2es.jpeg>

Comedians Reveal Their Realest Selves on “The Last Laugh’
<SM_4_ gq9fyv.jpeg>

Seth Meyers Proves Trump Is the Real ‘Husband From Hell’

“It’s such an ‘80s comedienne premise, but then it was also my truth so I was trying to reconcile with
it. It’s hard to not be meta about it, because just to say ‘I’m single’ on stage. There’s something that
feels so inherently hacky about it that I feel like I have these guilt pangs and then it just becomes a
whole other bit. It’s always weird to navigate. I’ve always been in relationships for big chunks of time

and every time I come out I’m like a generation older and I don’t know what my station is.”

Next week on Zhe Last Laugh podcast: Arrested Development and Veep star Tony Hale.

HOUSE_OVERSIGHT_026941
"
IMAGES-007-HOUSE_OVERSIGHT_022695.txt,"From: Kathy Ruemmler

Sent: 1/31/2015 2:46:14 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Attachments: image010.jpg; image005.jpg; image009.png; image004.jpg; image002.jpg; image007.png; image001.jpg;
image008.png; image003.jpg; image006.png

Importance: — High

Well, I think, but not because of me. The existential crisis thing is not a PMS or menopausal pose.

On Jan 30, 2015 9:16 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
how did musk call go?

On Fri, Jan 30, 2015 at 2:05 PM, Kathy Ruemmler cs wrote:

On Jan 30, 2015 2:04 PM, ""jeffrey E."" <jeevacation@gmail.com> wrote:
number?

From:
Date: Jan 30, 2015 12:25 PM
Subject:

Ce

Plenty Of Innuendo, But No Hard Evidence Of New
Clinton Sex Scandal

Much-discussed documents in Jeffrey Epstein affair don’t live up to the hype.

Ken Bensinger

BuzzFeed News Reporter
Share

Tweet
Share

Share

HOUSE_OVERSIGHT_022695
"
IMAGES-004-HOUSE_OVERSIGHT_016788.txt,"usatoday.com / Aamer Madhani The first Democratic presidential

debates of the 2020 cycle are now behind us. Multiple candidates broke

into Spanish. White House hopefuls offered up...

HOUSE_OVERSIGHT_016788
"
IMAGES-010-HOUSE_OVERSIGHT_029559.txt,"Music provides the clue: unlike other forms of art, music is not representational. Unlike the outcome of the sciences,
it was never discoverable or awaiting discovery. A Mahler symphony did not exist before Mahler created it.

E.T.A. Hoffman, a contemporary of Beethoven's, famously said: ""Music reveals to man an unknown realm, a world
quite separate from the outer sensual world surrounding him, a world in which he leaves behind all feelings
circumscribed by intellect in order to embrace the inexpressible.""

This is not to turn our back on reason. Or to argue that modernism, with all its secular progress through education,
industrialisation, communications, transport and the centralised state, has not spectacularly endowed the world as
no other movement before it. But a void exists between the drum-roll of mechanisation with its cumulative power of
science and the haphazard, explosive power of creativity and passion. Science is forever trying to undress nature
while the artistic impulse is to be wrapped in it.

While these approaches are different - perhaps often diametrically opposite - they inform related strands of thinking
in ways that promote energy and vision.

This is what | have found when these forces are contemplated in tandem. When passion and reason vie with each
other, the emerging inspiration is invariably deeper and of an altogether higher form. One is able to knit between
them, bringing into existence an overarching unity - a coherence - which fidelity to the individual strands cannot
provide.

In the world | have lived in, the world of politics, political economy and internationalism, the literature exists in
abundance. But what is far from abundant are the frameworks for the intuitive resolution of complex problems that
require multi-dimensional solutions.

But from where do we glean this extra dimensionality?

For me, it has always been from two sources: policy ambition in its own right and from imagination - the dreaming.
Policy ambition arising from Kant's higher self, and imagination promoted by those reliable wellsprings - music,
poetry, art and architecture - blending the whole into a creative flux.

This collection of speeches reflects many of those interests and impulses - whether it be Joern Utzon's Opera
House or the imperative of liberal internationalism in foreign policy or Neoclassicism, the future of native title or the
rise of China. Each is related in a wider construct which is part and parcel of the way | have viewed and thought
about the world.

While the speeches are from the period after my prime ministerial life and period in government, the impulse in
writing them came from the same framework and inclinations which informed my life in public office.

The speeches may be read individually or read together, subject to subject, idea to idea. Either way, a common
thread informs them all.

| trust this might be evident to the reader.

http://www.theaustralian.com.au/national-affairs/creativity-is-central-to-our-endeavours/story-fn59niix-
1226173494033

HOUSE_OVERSIGHT_029559
"
TEXT-002-HOUSE_OVERSIGHT_032426.txt,"From: Kathy Ruemmle 
Sent: 1/12/2017 2:21:31 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Got hired by Apple this week to do a patent trial. 
On Jan 12, 2017, at 9:13 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
i understand the fear. thats why we will condition the close on how the others sell 
On Thu, Jan 12, 2017 at 9:12 AM, Kathy Ruemmler 
What if I get it and can't resell? 
On Jan 12, 2017, at 6:35 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
rote: 
im happy to negotiate with developer on your behalf . or just give your talking points. allowances 
. commisions fees. free maintence etc 
On Wed, Jan 11, 2017 at 9:02 PM, Kathy Ruemmler wrote: 
Not to disturb you, but I am struck by the similar mannerisms between Trump and McGyver 
Sent from my iPad 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
HOUSE OVERSIGHT 032426 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032427 
"
IMAGES-011-HOUSE_OVERSIGHT_032256.txt,"From: Gerald Barton

Sent: 5/17/2016 1:53:36 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

My Extraordinarily Talented, Outrageous Friend,

Thank you for asking how Iam doing. The short answer is very well. I hope that you are in good health and
continue to use your special talents to make the world a better place and for your somewhat unique
amusements.

The longer answer to your question is that at the end of 2014 I closed down the office of Landmark, transferred
all of the assets to pay all of the major creditors, except me, and found myself as broke as I was when you first
called me that Friday after Thanksgiving, with my only remaining assets, a large capital loss, my reputation, and
my energy.

Since then, our luck has been better than even an optimist like me would expect. Being free of the $500,000 a
day I was fined by the OTS, after several years they abandoned this fine, which was initiated strictly to ensure
that I had no opportunity to finance any new developments, I became involved with an extraordinary, large,
important real estate development in Oklahoma City and two others in the D.C. area.

The bad news is that my dear friend and good partner, Aubrey McClendon, was killed in a single car accident
on March 2"" of this year and the development with great potential is now either delayed or abandoned. The
good news is that our involvement in a 1,000 acre development on Deep Creek Lake in western Maryland is in
the process of being financed and should be underway sometime this summer. Our second project is a 405 acre
development in Harper’s Ferry, West Virginia, that is probably the prettiest piece of property I know of in the
U.S. that is zoned and developable. Its business plan is now underway and we should be in the financing mode
this fall. My impression is that there is a tremendous amount of money on the sidelines, but the top 5% or 10%
that control it are terribly frightened of losing money they don’t need, while the 90% to 95% of the citizens are
continuing their daily labors somewhat frightened that they are not certain where next month’s or next year’s
mortgage payment is coming from.

On a lighter note, Donald Trump recently bought our development in Ireland, Doonbeg Golf Club. It has been
rated the first or second best resort in Europe. To-date, to my surprise, he is managing it reasonably well,
probably because he is presently devoted to an endeavor that amuses him.

Jeffrey, I want you to understand that I am extremely pleased and not at all melancholy about my present
circumstances. Whenever I get an opportunity, I always visit those assets I helped create and almost without
exception, I wish I had been smarter, but generally satisfied that I made a positive contribution and one much
higher than normally done by my competitors, because I am fortunate that the labor focus of my life has not
attracted the best and the brightest.

When good fortune brings you to the D.C. area, please let me know. I always enjoy understanding your
activities and do so with amazement and amusement.

HOUSE_OVERSIGHT_032256
"
IMAGES-001-HOUSE_OVERSIGHT_011410.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

107
H3vlgiu2

Oh, Ms. Menninger reminds me, your Honor -- and I

think the Court and I are on the same page on this as well --

the tax argument made by Mr. Cassell. Indeed, Ms. Maxwell and

the plaintiff are not on the same footing in this case with
regard to who put their reputation at issue, who is claiming
emotional distress damages, and plaintiffs are in a much
different position than defendants when it comes to
cross-examinations about these issues, particularly in
defamation cases, because as Ms. Menninger pointed out earlier,

under Rule 405, everything that impacts the plaintiff's

reputation in the community, including the failure to follow
laws, is the subject of cross-examination. So the argument
that what is good for the goose is good for the gander ina
defamation case simply doesn't apply when you're talking about
damage issues and reputational issues.

Thank you, your Honor.

MR. CASSELL: Could I just have 15 seconds, your
Honor?

THE COURT: No.

MR. CASSELL: All right. Thanks.

TH

Gl

COURT : Next.

MR. PAGLIUCA: Your Honor, we could next take up the

issue relating to the police reports which I have as
defendant's motion in limine to exclude police reports and

other inadmissible hearsay at 677, response at 747, and then

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011410
"
IMAGES-010-HOUSE_OVERSIGHT_030008.txt,"Notes

[a] I like the idea of extending the holding period for short term capital gains to 3-5 years, and cutting the long term
capital gains rate closer to 5%-10%. It could encourage more business formation, since more of what people create, they
keep. Ifthe cutoff year is properly set, it could be done on a deficit-neutral basis.

[b] According to methodology described by Keith Poole of the University of San Diego in the American Journal of Political
Science, McGovern ranks as the 99"" most liberal politician out of 3,320 politicians serving from 1937 to 2002.

[c] In a letter to the Wall Street Journal. Reprinted with permission; emphasis added.

[d] This may not have been a permanent change. The National Taxpayers Union rated the Blue Dog Democrats as having a
fiscal conservatism score of 52% in 1995; by 2009, it had fallen to 18%.

[e] Would McGovern’s focus on red tape make sense today? According to surveys conducted by the National Federation of
Small Business, the answer would be yes. The 3 issues most frequently mentioned as each respondent’s “single most
important problem” are Poor Sales, Regulation & Red Tape, and Taxes. Two things of note. First, Regulation & Red Tape
concerns have been steadily rising over the last two years. Secondly, availability of credit does not show up as an issue. As the
NFIB wrote in May 2011, “92 percent reported that all their credit needs were met or that they were not interested in
borrowing. Eight percent reported that not all of their credit needs were satisfied. Three percent reported financing as their #1
business problem, so credit supply 1s not a problem for the overwhelming majority.”

What's the largest problem facing small business?
Percentof respondents

35%

30%

Regulation & Red Tape

5%
1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010
Source Nationa Federation of Independent Business

[f] As reported by Reuters, Gerald Wynn, November 22, 2010.

The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P.
Morgan employees and affiliates. This information in no way constitutes J.P. Morgan research and should not be treated as such. Further, the views expressed herein may differ
jrom that contained in J.P. Morgan research reports. The above summary/prices/quotes/statistics have been obtained from sources deemed to be reliable, but we do not
guarantee their accuracy or completeness, any yield referenced is indicative and subject to change. Past performance is not a guarantee of future results. References to the
performance or character of our portfolios generally refer to our Balanced Model Portfolios constructed by J.P. Morgan. It is a proxy for client performance and may not
represent actual transactions or investments in client accounts. The model portfolio can be implemented across brokerage or managed accounts depending on the unique
objectives of each client and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P.
Morgan Chase Bank, N.A, and its affiliates. Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC. Securities products purchased
or sold through JPMS are not insured by the Federal Deposit Insurance Corporation (""FDIC""); are not deposits or other obligations of its bank or thrift affiliates and are not
guaranteed by its bank or thrift affiliates; and are subject to investment risks, including possible loss of the principal invested. Not all investment ideas referenced are suitable for
all investors. These views may not be suitable for all investors. Speak with your J.P. Morgan Representative concerning your personal situation. This material is not intended as
an offer or solicitation for the purchase or sale of any financial instrument. Private Investments may engage in leveraging and other speculative practices that may increase the
risk of investment loss, can be highly illiquid, are not required to provide periodic pricing or valuations to investors and may involve complex tax structures and delays in
distributing important tax information. Typically such investment ideas can only be offered to suitable investors through a confidential offering memorandum which fully
describes all terms, conditions, and risks.

IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any
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Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Note that J.P. Morgan is not a licensed insurance provider.

© 2011 JPMorgan Chase & Co. All rights reserved.

HOUSE_OVERSIGHT_030008
"
IMAGES-010-HOUSE_OVERSIGHT_028647.txt,"materials. It also convinced a food catering business not to cater for child marriage ceremonies.

For Care and AJWS, the logical route is to work through local partners familiar with regional conditions and practices, and
based where the pressure points are. For the local NGOs, it shows they are not working alone on a difficult problem only now
receiving the attention it merits.

The UN high-level panel appointed by Ban Ki-moon, the UN secretary general, to look at development targets to replace the
millennium development goals when they expire in 2015, has urged the recognition of child marriage as a key indicator of
female empowerment. In another sign that child marriage is moving up the development agenda, Girls Not Brides, the global
partnership to end child marriage, was formed in September 2011 to tackle the problem.

Empowerment can come through that catch-all term, livelihoods training. Groups such as Brac, the Bangladeshi NGO, for
example, have created clubs in Uganda where young girls learn to develop confidence through storytelling and songwriting.
They also learn more practical skills, from financial literacy and tailoring to agricultural work.

Backed by AJWS, Mohammad Bazar Backward Classes Development Society in West Bengal takes a similar approach.
The organisation, which works with marginalised Muslim and tribal women and children in urban Kolkata, runs a school for
girls as well as vocational training for women in the rural area of Birbhum.

""We work to build girls' aspirations, promote girls' ideas of themselves when they don't have aspirations, and engage with
key decisionmakers — parents, teachers and religious leaders,"" said Javid Syed, Asia programme officer for AJWS.

AJWS helped change Zeenat's life. It provided her with vocational training, allowing her to become financially independent
and diminishing the likelihood that economic need will turn her towards another abusive marriage. If Zeenat does marry
again, the hope is that she will have the support of her family and the ability to leave the marriage if she chooses, in full
knowledge of her rights.

Back to top

HOUSE_OVERSIGHT_028647
"
IMAGES-002-HOUSE_OVERSIGHT_013901.txt,"online research to respond to journalist queries. Done properly, this will get you featured in media
ranging from small local publications to the New York Times and ABC News.

Becoming a recognized expert isn’t difficult, so I want to remove that barrier now.

I am not recommending pretending to be something you’re not. I can’t! “Expert” is nebulous media-
speak and so overused as to be indefinable. In modern PR terms, proof of expertise in most fields is
shown with group affiliations, client lists, writing credentials, and media mentions, not /Q points or
Ph.D.s.

Presenting the truth in the best light, but not fabricating it, is the name of the game.
See you on CNN.

=» Q&A: QUESTIONS AND ACTIONS

E.. this hands-on chapter, the Q&A is simple. In fact, it’s more like a Q.

The question is, “Did you read the chapter and follow the directions?” If not, do it! Instead of the
usual Q&A, the end of this chapter and the following two will feature more extensive resources for
taking the action steps described in detail in the text.

= COMFORT CHALLENGE

Find Yoda (3 Days)

Call at least one potential superstar mentor per day for three days. E-mail only after attempting a phone
call. I recommend calling before 8:30 A.M. or after 6:00 P.M. to reduce run-ins with secretaries and other
gatekeepers. Have a single question in mind, one that you have researched but have been unable to
answer yourself. Shoot for “A” players—CEOs, ultrasuccessful entrepreneurs, famous authors, etc.—and
don’t aim low to make it less frightening. Use www.contactanycelebrity.com if need be, and base your
script on the following.

Unknown answerer: This is Acme Inc. [or “the office of Mentor X’’].

You: Hi, this is Tim Ferriss calling for John Grisham, please 24

Answerer: May I ask what this is regarding?

You: Sure. I know this might sound a bit odd,32 but I’m a first-time author and just read his interview in

Time Out New York 22 I'm a longtime*+ fan and have finally built up the courage to®= call him for one
specific piece of advice. It wouldn’t take more than two minutes of his time. Is there any way you can

help me get through to him?2""I really, really appreciate whatever you can do.

Answerer: Hmmm ... Just a second. Let me see if he’s available. [two minutes later] Here you go. Good
luck. [rings to another line]

John Grisham: John Grisham here.

HOUSE_OVERSIGHT_013901
"
IMAGES-005-HOUSE_OVERSIGHT_020115.txt,"president’s part.

The daily discussion among senior staffers, those still there and those now gone—all of
whom had written off Tillerson’s future in the Trump administration—was how long
General Kelly would last as chief of staff. There was something of a virtual office pool,
and the joke was that Reince Priebus was likely to be Trump’s longest-serving chief of
staff. Kelly’s distaste for the president was open knowledge—in his every word and
gesture he condescended to Trump—the president’s distaste for Kelly even more so. It was
sport for the president to defy Kelly, who had become the one thing in his life he had
never been able to abide: a disapproving and censorious father figure.

OOK Ok

There really were no illusions at 1600 Pennsylvania Avenue. Kelly’s long-suffering
antipathy toward the president was rivaled only by his scorn for the president’s family
—“Kushner,” he pronounced, was “insubordinate.” Cohn’s derisive contempt for Kushner
as well as the president was even greater. In return, the president heaped more abuse on
Cohn—the former president of Goldman Sachs was now a “complete idiot, dumber than
dumb.” In fact, the president had also stopped defending his own family, wondering when
they would “take the hint and go home.”

But, of course, this was still politics: those who could overcome shame or disbelief—
and, despite all Trumpian coarseness and absurdity, suck up to him and humor him—
might achieve unique political advantage. As it happened, few could.

By October, however, many on the president’s staff took particular notice of one of the
few remaining Trump opportunists: Nikki Haley, the UN ambassador. Haley—“as
ambitious as Lucifer,” in the characterization of one member of the senior staff—had
concluded that Trump’s tenure would last, at best, a single term, and that she, with
requisite submission, could be his heir apparent. Haley had courted and befriended Ivanka,
and Ivanka had brought her into the family circle, where she had become a particular
focus of Trump’s attention, and he of hers. Haley, as had become increasingly evident to
the wider foreign policy and national security team, was the family’s pick for secretary of
state after Rex Tillerson’s inevitable resignation. (Likewise, in this shuffle, Dina Powell
would replace Haley at the UN.)

The president had been spending a notable amount of private time with Haley on Air
Force One and was seen to be grooming her for a national political future. Haley, who was
much more of a traditional Republican, one with a pronounced moderate streak—a type
increasingly known as a Jarvanka Republican—was, evident to many, being mentored in
Trumpian ways. The danger here, offered one senior Trumper, “is that she is so much
smarter than him.”

What now existed, even before the end of the president’s first year, was an effective
power vacuum. The president, in his failure to move beyond daily chaos, had hardly

HOUSE_OVERSIGHT_020115
"
IMAGES-001-HOUSE_OVERSIGHT_011376.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

13
H3VOGIU1

prejudicial effect«
Obviously, this is going to be considered by the jury

to think she's a bad kid. They're not going to like

Ms. Giuffre, and they're going to hold it against her, not
because it has some technical reputational aspect to it, but
because it is something that shows she's a bad person. Under

403, the evidence should be excluded.

Let me give you a second illustration of reputational

points. They say, ""Ah-ha, look. Ms. Giuffre went to

Dr. Kliman,"" and I believe your Honor referred to that as well.

And your Honor asked, I think, a very good question, and let me

see if I can answer that question.

You said, ""Well, why did she disclose all this stuff

to Dr. Kliman?"" Well, the answer is obvious, she was under

instructions from

and of course she

that happened. S

the doctor to tell everything

that happened,

told, to the best of her abilit

ome of the stuff is going

ty, everything

to turn out in a

court of law to be relevant, some of this stuff in a court of

law is going to turn out to be irrelevant. But that's not the

psychiatrist's job to say, 'No, no, no, don't talk about

becaus

illegal drug us the prejudicial effect outweighs the

probative value,' he just gets a full medical history. And

having collected all that information, you know, through

Dr. Kliman, or they also have Dr. Miller who did a similar sort

of thing. Now once you have all of this vast array of

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011376
"
IMAGES-005-HOUSE_OVERSIGHT_019794.txt,"306 | Acknowledgments

Because I do not believe an investigative book should be written
without the author visiting the crime scene and other pertinent ven-
ues, I undertook research in Hawaii, Japan, Hong Kong, and Moscow.
Where possible, I flew the same flights that Snowden did. I am grate-
ful to Ena and Ines Talakic for their assistance on these research trips.
As talented documentarians in their own right, they filmed a num-
ber of my interviews on these trips, and generously provided pho-
tographs for this book. I thank Alexander Bitter in Hawaii, Joyce Xu
in Hong Kong, Ko Shoiya in Japan, and Zamir Gotta, Natalie Filkina,
and Svetlana Chervonnaya in Russia for their help in arranging my
interviews in those places. I also owe special thanks to Nick Grube,
an editor at Civil Beat in Honolulu, for accompanying me to the
NSA base where Snowden was working in 2013.

I am indebted to Nancy Novick for her skill, patience and enter-
prise in helping me find the selection of photographs for this book.

lam grateful to Zachary Gresham for his meticulous fact-checking
and proofreading, and to Ingrid Sterner for her immensely helpful
copyediting skills. Because I perform all my own research, I alone am

© responsible for any errors that appear in this book. ®

Mort Janklow, who has represented me for three decades, did a
superb job in arranging for Alfred A. Knopf to publish this book.

Tam thankful to Julia Ringo and the team at Knopf for their help
in preparing this book. Finally, I am deeply indebted to Jonathan
Segal for meticulously editing this book. The manuscript gained
immeasurably from both his keen eye and his wise judgment.

| | Epst_9780451494566_2p_all_r1.indd 306 ® 9/30/16 8:13AM | |

HOUSE_OVERSIGHT_019794
"
TEXT-002-HOUSE_OVERSIGHT_032340.txt,"From: Michael Wolff 
Sent: 11/10/2016 9:40:43 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
What was behind this, do you know? Or just nutters? 
On Thu, Nov 10, 2016 at 4:24 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
http ://www. dailymail. co .uk/news/article-3914012/Troub led-woman-history-drug-us e-claimed-ass aulted-
D onald-Trump-Jeffrey-Ep ste in-s ex-p arty-age-13 -FABRICATED-story. html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 032340 
"
IMAGES-003-HOUSE_OVERSIGHT_015939.txt,"Software 249

The final example is in prenex normal form. The symbol ‘3’ means
‘there exists’ and R stands for relationship in this equation. All logical
statements can be translated into this form using a purely mechanical
process. There is even a website that will do this for you. It’s useful but I
don't recommend it as entertainment!

In the example above, something exists in relation to the existence
of something else: one person who loves another. Give me a name and I
can look up the person they love. This is simple. A computer can easily
solve such problems. Indeed there are hundreds of websites doing this
every day. Once you've solved one problem of this type, you have solved
them all.

We can rearrange Diophantine equations into many different
prenex forms. The simplest form might be, ‘there exists an x which solves

the following equation, x equals three? This would be written out as Ix,
x=3 and is of the 4 class — ‘there exists. There are slightly more complex
classes than our simple 4 relationship: VV ‘for all, there exists for all’ or
the class V°V ‘for all, for all, there exists, for all: Each of these groups of
equation is called a ‘reduction class.

One way to think about a reduction class is as a problem in topology,

‘knots, to non-mathematicians. Imagine someone handed you a bunch
of tangled cables - the sort of mess you get when they are thrown
haphazardly into a drawer. You can tease them apart and rearrange
them but you must not cut them or break any connection. Once you
have done this you will be left with a series of cables on the desk. They
are all separate, looped or in someway knotted together. Each cable has
a fundamental topological arrangement: straight cables, granny knots,
figure eight, and so on. You have reduced them to their simplest form,
their logical classes. The same goes for logical statements. Once you
have rearranged logical statements into their simplest form you can lay
them out and group them together according to their complexity. Each
group makes up a reduction class and you can ask whether that class as a
whole is automatically decidable. It isa huge task to untangle and classify
mathematical problems, and it took Robinson and her colleagues nearly
forty years to succeed.

It turns out problems with a form as simple as VAV (for all,
there exists, for all) have no general purpose algorithm. Each must be

examined individually and solved by something that is not a computer.

This is a remarkable result as the logic boundary is set quite low. An 44,
(exists, exists), class of problem is automatically solvable by a general

HOUSE_OVERSIGHT_015939
"
IMAGES-011-HOUSE_OVERSIGHT_031039.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 12/15/2013 1:07:51 AM
To:
Subject: Re: A few questions just in case please?

Importance: — High

how will our future differ from your lives? if i was going to do your job what three things would i have to
know. ? is obama good for the country, .? israel? . if you could live one day of your lives over again, what

would it be?

On Sat, Dec 14, 2013 at 7:04 PM [i wrote:

Sent from my iPhone

De eee ee ee ee ee ee ee ee ee ee a

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_031039
"
IMAGES-012-HOUSE_OVERSIGHT_032788.txt,"From: LHS

Sent: 7/18/2018 12:51:11 AM

To: jeffrey E. [jeevacation@gmail.com]
cc:

Subject: Re:

Importance: — High
Just tried back. Now here
Sent from my iPhone

Please direct all scheduling inquiries to my office at:

Follow me on twitter @lhsummers
www.larrysummers.com

On Jul 17, 2018, at 8:33 PM, jeffrey E. <jeevacation@gmail.com> wrote:

just tried

On Tue, Jul 17, 2018 at 8:12 PM, LHS <q wrote:

Just tried u. Am at 6178179452

Sent from my iPhone

Please direct all scheduling inquiries to my office [|

Follow me on twitter @lhsummers
www.larrysummers.com

On Jul 17, 2018, at 5:09 PM, jeffrey E. <jeevacation@gmail.com> wrote:

?

On Tue, Jul 17, 2018 at 8:01 AM, LHS <a rote:

Will call later. What number?

Sent from my iPhone

Please direct all scheduling inquiries to my office at: Po

Follow me on twitter @lhsummers
www.larrysummers.com

On Jul 17, 2018, at 7:42 AM, jeffrey E. <jeevacation@gmail.com> wrote:

my email is full with similar comments . wow

HOUSE_OVERSIGHT_032788
"
IMAGES-012-HOUSE_OVERSIGHT_033496.txt,"<div>can you sketch the style&nbsp;of ""E"" for the tail, and I'll request re=
ndering with slanted Flag for Right side of Vertical Stabilizer, .</div>

<div>&nbsp; </div>
<div>thank you, </div>
<div>Larry </div>
<div>&nbsp; </div>
<div>&nbsp; </div>

<div style=3D""color: black; font-family: arial,helvetica; font-size: 10pt;""=
poconH Original Message-----

From: Guy Amico &l1t;
To: Larry Visoski &lt;
Cc: Scott Stambaugh &lt;
ugh &lt;
Sent: Sat, Jun 7, 2014 12:16 pm<br>
Subject: Photos<br>

<br>

;; JR Stamba=

<div id=3D""AOLMsgPart_0_O6acbf7b-6640-4997-al2c-7ea717651d23"" style=3D""marg=
in: Opx; color: rgb(O, 0, 0); font-family: Tahoma, Verdana, Arial, Sans-Ser=
if; font-size: 12px; background-color: rgb(255, 255, 255);"">

<pre style=3D""font-size: 9pt;""><tt>

</tt></pre>
</div>
<!-- end of AOLMsgPart_0_O6acbf7b-6640-4997-al2c-7ea717651d23 -->

<div id=3D""AOLMsgPart_2_06acbf7b-6640-4997-al2c-7ea717651d23"" style=3D""marg=
in: Opx; color: rgb(O, 0, 0); font-family: Tahoma, Verdana, Arial, Sans-Ser=
if; font-size: 12px; background-color: rgb(255, 255, 255);"">

<pre style=3D""font-size: 9pt;""><tt>

</tt></pre>
</div>
<!-- end of AOLMsgPart_2_06acbf7b-6640-4997-al2c-7ea717651d23 -->

<div id=3D""AOLMsgPart_4_06acbf7b-6640-4997-al2c-7ea717651d23"" style=3D""marg=
in: Opx; color: rgb(O, 0, 0); font-family: Tahoma, Verdana, Arial, Sans-Ser=
if; font-size: 12px; background-color: rgb(255, 255, 255);"">

<pre style=3D""font-size: 9pt;""><tt>

</tt></pre>
</div>
<!-- end of AOLMsgPart_4_0O6acbf7b-6640-4997-al2c-7ea717651d23 -->

<div id=3D""AOLMsgPart_6_06acbf7b-6640-4997-al2c-7ea717651d23"" style=3D""marg=
in: Opx; color: rgb(O, 0, 0); font-family: Tahoma, Verdana, Arial, Sans-Ser=
if; font-size: 12px; background-color: rgb(255, 255, 255);"">

<pre style=3D""font-size: 9pt;""><tt>
</tt></pre>

</div>
<!-- end of AOLMsgPart_6_O6acbf7b-6640-4997-al2c-7ea717651d23 -->

<div id=3D""AOLMsgPart_8_O6acbf7b-6640-4997-al2c-7ea717651d23"" style=3D""marg=
in: Opx; color: rgb(O, 0, 0); font-family: Tahoma, Verdana, Arial, Sans-Ser=
if; font-size: 12px; background-color: rgb(255, 255, 255);"">

HOUSE_OVERSIGHT_033496
"
IMAGES-012-HOUSE_OVERSIGHT_032950.txt,"and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032950
"
IMAGES-005-HOUSE_OVERSIGHT_019964.txt,"Flynn declared that he had had no such conversations, absolutely no conversation, he
confirmed again, and the interview, attended by senior National Security Council official
and spokesman Michael Anton, ended soon thereafter.

But later that day, DeYoung called Anton and asked if she could use Flynn’s denial on
the record. Anton said he saw no problem—after all, the White House wanted Flynn’s
denial to be clear—and notified Flynn.

A few hours later, Flynn called Anton back with some worries about the statement.
Anton applied an obvious test: “If you knew that there might be a tape of this conversation
that could surface, would you still be a hundred percent sure?”

Flynn equivocated, and Anton, suddenly concerned, advised him that if he couldn’t be
sure they ought to “walk it back.”

The Post piece, which appeared the next day under three other bylines—indicating that
DeYoung’s interview was hardly the point of the story—contained new leaked details of
the Kislyak phone call, which the Post now said had indeed dealt with the issue of
sanctions. The article also contained Flynn’s denial—‘he twice said ‘no’ ”—as well as his
walk-back: “On Thursday, Flynn, through his spokesman, backed away from the denial.
The spokesman said Flynn ‘indicated that while he had no recollection of discussing

sanctions, he couldn’t be certain that the topic never came up.’ ”

After the Post story, Priebus and Bannon questioned Flynn again. Flynn professed not
to remember what he had said; if the subject of sanctions came up, he told them, it was at
most glossed over. Curiously, no one seemed to have actually heard the conversation with
Kislyak or seen a transcript.

Meanwhile, the vice president’s people, caught unaware by the sudden Flynn
controversy, were taking particular umbrage, less about Flynn’s possible
misrepresentations than about the fact that they had been kept out of the loop. But the
president was undisturbed—or, in one version, “aggressively defensive’—and, while the
greater White House looked on askance, Trump chose to take Flynn with him to Mar-a-
Lago for his scheduled weekend with Shinzo Abe, the Japanese prime minister.

That Saturday night, in a bizarre spectacle, the Mar-a-Lago terrace became a public
Situation Room when President Trump and Prime Minister Abe openly discussed how to
respond to North Korea’s launch of a missile three hundred miles into the Sea of Japan.
Standing right over the president’s shoulder was Michael Flynn. If Bannon, Priebus, and
Kushner believed that Flynn’s fate hung in the balance, the president seemed to have no
such doubts.

For the senior White House staff, the underlying concern was less about getting rid of
Flynn than about the president’s relationship with Flynn. What had Flynn, in essence a spy
in a soldier’s uniform, roped the president into? What might they have got up to together?

HOUSE_OVERSIGHT_019964
"
IMAGES-002-HOUSE_OVERSIGHT_013929.txt,"Ou. you reach Phase III and have some cash flow, it’s time to re-evaluate your customers and thin
the herd. There are good and bad versions of all things: good food, bad food; good movies, bad movies;
good sex, bad sex; and, yes, good customers and bad customers.

Decide now to do business with the former and avoid the latter. I recommend looking at the customer
as an equal trading partner and not as an infallible blessing of a human being to be pleased at all costs. If
you offer an excellent product at an acceptable price, it is an equal trade and not a begging session
between subordinate (you) and superior (customer). Be professional but never kowtow to unreasonable
people.

Instead of dealing with problem customers, I recommend you prevent them from ordering in the first
place.

I know dozens of NR who don’t accept Western Union or checks as payment. Some would respond to
this with, “You’re giving up 10-15% of your sales!” The NR, in turn, would say, “I am, but I’m also
avoiding the 10-15% of the customers who create 40% of the expenses and eat 40% of my time.” It’s
classic 80/20.

Those who spend the least and ask for the most before ordering will do the same after the sale. Cutting
them out is both a good lifestyle decision and a good financial decision. Low-profit and high-
maintenance customers like to call operators and spend up to 30 minutes on the phone asking questions
that are unimportant or answered online, costing—in my case—$24.90 (30 x $0.83) per 30-minute
incident, eliminating the minuscule profit they contribute in the first place.

Those who spend the most complain the least. In addition to our premium $50—200 pricing, here are a
few additional policies that attract the high-profit and low-maintenance customers we want:

Do not accept payment via Western Union, checks, or money order.

2. Raise wholesale minimums to 12-100 units and require a tax ID number to qualify resellers who
are real businesspeople and not time-intensive novices. Don’t run a personal business school.

3. Refer all potential resellers to an online order form that must be printed, filled out, and faxed in.
Never negotiate pricing or approve lower pricing for higher-volume orders. Cite “company policy”
due to having had problems in the past.

4. Offer low-priced products (a la MRI’s NO2 book) instead of free products to capture contact
information for follow-up sales. Offering something for free is the best way to attract time-eaters
and spend money on those unwilling to return the favor.

5. Offer a lose-win guarantee (see boxed text) instead of free trials.

Do not accept orders from common mail fraud countries such as Nigeria.

Make your customer base an exclusive club, and treat the members well once they’ve been accepted.

The Lose- Win Guarantee — How to Sell Anything to Anyone

If you want a guarantee, buy a toaster.
— CLINT EASTWOOD

Tre 30-day money-back guarantee is dead. It just doesn’t have the pizzazz it once did. If a product

doesn’t work, I’ve been lied to and will have to spend an afternoon at the post office to return it. This

HOUSE_OVERSIGHT_013929
"
TEXT-002-HOUSE_OVERSIGHT_033076.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 3/7/2018 11:49:41 AM 
To: LHS 
Subject: Re: What's up in trump World? 
On Wed, Mar 7, 2018 at 4:51 AM, LHS < > wrote: 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 033076 
"
IMAGES-010-HOUSE_OVERSIGHT_029217.txt,"and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029217
"
IMAGES-003-HOUSE_OVERSIGHT_015911.txt,"The Machine

r uring probably learned of the Entscheidungsproblem in a lecture
given at Cambridge University by Max Newman. Newman
described a new proof by Gddel showing mathematics was

incomplete. The proof solved the completeness and consistency problems
by turning mathematical statements into numbers and showing you
could generate a logical paradox if you tried to argue for completeness
and consistency at the same time. Thus, of the three original Hilbert
problems, completeness, consistency and decidability, only decidability
remained unanswered.

Turing spent all of 1935 and much of 1936 thinking about
this question: Is mathematics intuitive, or could a machine decide
mathematical questions automatically? Eventually, cycling through
the Cambridge countryside one day, he stopped to rest in a field near
Grantchester and in a flash of inspiration envisioned his mathematical
machine. The machine was entirely imaginary but made as if from
mechanical parts common in the 1930s.

The idea was to reduce the process of computing with pen and paper
to its most basic level. Turing hit upon the idea of using a long ribbon of
paper tape similar to the ones used in telegraph machines. A paper tape
is simpler than rectangular paper as it can be handled mathematically as
a single sequence of numbers — we don't have to worry about turning the
page or working in two dimensions. If you are worried that a tape is less
powerful than a sheet of paper remember Cantor’s theorem: an infinite
plane is the same as an infinite line. The use of a tape massively simplified
the mathematics, and subsequently many early computers used tapes, as
they were easy to handle in practice as well as in theory.

HOUSE_OVERSIGHT_015911
"
IMAGES-011-HOUSE_OVERSIGHT_031011.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 6/14/2010 8:18:52 PM
To: Pritzker, To)
Subject: Fwd: Fw: [Perl-Cousins] Fw: Nobody knows nobody in Chicago

Attachments: 14093566.jpg; 14528996.jpg; 14223289.jpg; 14439708.jpg; 14986269.jpg; ecblank.gif; 14770170.jpg

a Forwarded message ----------

From: <a

Date: Mon, Jun 14, 2010 at 2:27 PM
Subject: Fwd: Fw: [Perl-Cousins] Fw: Nobody knows nobody in Chicago
To: jeevacation@gmail.com

a Forwarded message ----------

From: Steven Elkman (as

To: undisclosed-recipients:;
Date: Mon, 14 Jun 2010 12:13:37 -0400
Subject: Fw: [Perl-Cousins] Fw: Nobody knows nobody in Chicago

Steven Munro Elkman
Client Advisor
Managing Director
Deutsche Bank Alex. Brown
A Division of Deutsche Bank Securities, Inc.
280 Park Avenue, 3 East
New York, NY 10017
phone
fax

This communication may contain confidential and/or privileged information.
If you are not the intended recipient (or have received this communication
in error) please notify the sender immediately and destroy this
communication. Any unauthorized copying, disclosure or distribution of the
material in this communication is strictly forbidden.

Deutsche Bank does not render legal or tax advice, and the information

contained in this communication should not be regarded as such.----- Forwarded by Steven

Elkman/db/dbcom on 06/14/2010 12:13 PM -----

06/12/2010 07:59 AM ToSteven Elkman/db/dbcom@DBAmericas

Please respond to cc

SubjectFw: Fwd: [Perl-Cousins] Fw: Nobody knows nobody in
Chicago

HOUSE_OVERSIGHT_031011
"
IMAGES-008-HOUSE_OVERSIGHT_025197.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 5/28/2017 11:44:32 PM
To: HS (
Subject: Re: Is Donald still feeling good

Importance: — High

you should hook up with gates or hoffmand and do the donor advised fund. you should lead the education
initaitive. , church , genetics. , jobs climate projects. , etc.

On Sun, May 28, 2017 at 7:36 PM, LHS <i> wrote:

More would represent Donald if Kaslowitz out of picture. Not surprising. very hard to be law firm
representing POTUS and know what to do when potus lies to u.

My world thinks poorly of Gorelick for representing Jared.
How guilty is Donald?

Of crudity surely

Of gross ignorance surely

Of being utterly without the intellect temperament for job surely

Of being over line on family profiting very likely

Of gross disregard for appearances almost surely.

Of Russians having financial leverage. Less clear

Of Russians helping in. Election w complicity of his campaign plausible but not certain

Strikes me if u work for Donald u don't free lance so he is guilty of whatever his campaign did.
Do u agree w foregoing?
Sent from my iPad

Please direct all scheduling inquiries to my office |

Follow me on twitter @lhsummers
www.larrysummers.com

From: jeffrey E. <jeevacation@gmail.com>
Sent: Sunday, May 28, 2017 7:28 PM
Subject: Re: Is Donald still feeling good

To: LHS —_ a >

wild, there will be some changes this week.. funny but kaslowitz is getting turned down repeatedly , by
firms unwilling to represent donald.

On Sun, May 28, 2017 at 7:22 PM, LHS ~ 0ti—i‘i‘isSsCSS wrote:

R u still plugged in to the show?

Sent from my iPhone

HOUSE_OVERSIGHT_025197
"
IMAGES-012-HOUSE_OVERSIGHT_032978.txt,"Once again, not sure was drifted away from this in communication

De : jeffrey E. <jeevacation@gmail.com>
Envoyé : vendredi 10 février 2017 12:32

A: Etienne Binant
Cc : Darren Indyke
Objet : Re: update

going to artists studio s much more appropriate , i think

On Thu, Feb 9, 2017 at 9:49 PM, Etienne Binant it wrote:

Gentlemen

| hope you are having a great week.

In LA hoping to begin acquiring pieces: are we on?
If not yet, when please

thanks

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032978
"
IMAGES-006-HOUSE_OVERSIGHT_021925.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

102

And so in connection with the civil cases
that some of the girls had filed against Mr. Epstein,
her deposition was set by my co-counsel, Mr. Edwards,
and there was some haggling over a confidentiality
agreement, you know, and that had all been worked out
and then she was set for a deposition and finally
agreed, you know, to deposition. And just shortly, I
think a couple of days before that deposition, she
canceled. Well, she didn't cancel, her -- her attorney
called to cancel the deposition, and represented that
Miss Maxwell was outside the United States of America
and had no plans to return back to the United States.

And so, at that point, the deposition was --
was not able to go forward. But it turned out that she
had not left the United States for an extended period of
time. She was spotted later at a wedding of a prominent
person in New York. And so that was Maxwell fitting
into this pattern, you know, Epstein was being, you
know, Palm Beach Police Department being told by
Dershowitz that Epstein will answer your questions, and
then not getting information.

Maxwell evading the deposition. Jean Luc
Brunel “ (ph) was another person who seemed to be very
much involved in trafficking the girls and it was the

same situation. A deposition was set to try to get

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021925

"
IMAGES-004-HOUSE_OVERSIGHT_016978.txt,"from kuber- to guber—the root of “gubernatorial” and “governor,” another term for
masculine control, deployed by James Watt to describe his 19th-century device for
modulating a runaway steam engine. Cybernetics thus took ideas that had long
analogized people and devices and generalized them to an applied science by adding that
“-ics.” Wiener’s three c’s (command, control, communication) drew on the mathematics
of probability to formalize systems (whether biological or mechanical) theorized as a set
of inputs of information achieving outputs of actions in an environment—a muscular,
fleshy agenda often minimized in genealogies of AI.

But the etymology does little to capture the excitement felt by participants, as
mathematics joined theoretical biology (Arturo Rosenblueth) and information theory
(Claude Shannon, Walter Pitts, Warren McCulloch) to produce a barrage of
interdisciplinary research and publications viewed as changing not just the way science
was done but the way future humans would engage with the technosphere. As Wiener
put it, “We have modified our environment so radically that we must now modify
ourselves in order to exist.”48 The pressing question is: How are we modifying
ourselves? Are we going in the right direction or have we lost our way, becoming the
tools of our tools? Revisiting the early history of humanist/artists’ contribution to
cybernetics may help direct us toward a less perilous, more ethical future.

The year 1968 was a high-water mark of the cultural diffusion and artistic uptake
of the term. In that year, the Howard Wise gallery opened its show of Wen-Ying Tsai’s
“Cybernetic Sculpture” in midtown Manhattan, and Polish émigré Jasia Reichardt opened
her exhibition “Cybernetic Serendipity” at London’s ICA. (The “Cybernetic” in her title
was intended to evoke “made by or with computers,” even though most of the artworks
on view had no computers, as such, in their responsive circuits.) The two decades
between 1948 and 1968 had seen both the fanning out of cybernetic concepts into a
broader culture and the spread of computation machines themselves in a slow migration
from proprietary military equipment, through the multinational corporation, to the
academic lab, where access began to be granted to artists. The availability of cybernetic
components—“sensor organs” (electronic eyes, motion sensors, microphones) and
“effector organs” (electronic “breadboards,” switches, hydraulics, pneumatics)—on the
home hobbyist front rendered the computer less an “electronic brain” than an adjunct
organ in a kit of parts. There was not yet a ruling metaphor of “artificial intelligence.”
So artists were bricoleurs of electronic bodies, interested in actions rather than calculation
or cognition. There were inklings of “computer” as calculator in the drive toward Homo
rationalis, but more in aspiration than achievement.

In light of today’s digital convergence in art/science imaging tools, Reichardt’s
show was prophetic in its insistence on confusing the boundaries between art and what
we might dub “creative applied science.” According to the catalog, “no visitor to the
exhibition, unless he reads all the notes relating to all the works, will know whether he is
looking at something made by an artist, engineer, mathematician, or architect.” So the
comically dysfunctional robot by Nam June Paik, Robot K-456 (1964), featured on the
catalog’s cover and described as “a female robot known for her disturbing and
idiosyncratic behavior,” would face off against a balletic Colloquy of Mobiles (1968)
from second-order cybernetician Gordon Pask. Pask worked with a London theater

48 The Human Use of Human Beings (1954 edition), p. 46.

175

HOUSE_OVERSIGHT_016978
"
IMAGES-001-HOUSE_OVERSIGHT_012131.txt,"KIRKLAND & ELLIS LLP

John Roth, Esq.
June 19, 2008
Page 2

As you are likely aware, the Department’s prior review of this matter was incomplete
and, by its own admission, not “de novo.” See Tab 38, May 15, 2008 Letter from A. Oosterbaan.
Without considering the Non Prosecution Agreement that left this matter to be resolved in the
State or any of the misconduct, CEOS reviewers, tasked with reviewing some of their own
previously expressed opinions, assessed only whether the United States Attorney would “abuse
[his] discretion” if he pursued this case. While we appreciate CEOS’s willingness to examine
these limited issues, its conclusion that a prosecution would not be an “abuse of discretion” rings
particularly hollow in light of CEOS’s admirably candid concessions that we have raised
“compelling” objections and that a prosecution on these facts would require “novel” applications
of federal law. Indeed, even a brief review of CEOS’s own mission statement reveals how
inapposite a federal prosecution is to the facts in this case.

Importantly, we note that the CEOS review was conducted prior to the Supreme Court’s
very recent decisions in Santos and Cuellar, which we believe—illuminating as they do the
Court’s interpretive methodology when it comes to federal criminal law—powerfully
demonstrate the substantive vulnerability of the USAO’s unprecedented employment of three
federal laws. That Office’s interpretation would never pass muster under the Supreme Court’s
recent pronouncements and should not be countenanced. That is all the more true under the
circumstances where the duly appointed U.S. Attorney opined that, in effect, the “unitary”
Executive Branch was driving this prosecution. We now know that is not so.

What I respectfully request, and what I hope you will provide, is a truly “de novo”
review—that is, an independent assessment of whether federal prosecution of Mr. Epstein is both
necessary and warranted in view of the legal and evidentiary hurdles that have been identified,
the existence of a State felony plea and sentence that have been advocated by the State Attorney
for Palm Beach County, and the many issues of prosecutorial misconduct and overzealousness
that have permeated the investigation. I also request that you provide us with the opportunity
during your review to meet with you in person to answer any questions you may have and to
elucidate some of the issues in our submission.

We believe that an independent review will confirm our strong belief that federal
prosecutors would be required to stretch the plain meaning of each element of the enumerated
statutes, and then to combine these distorted elements in a tenuous chain, in order to convict Mr.
Epstein. Indeed, just this week (and after two years of federal involvement in this matter),
Assistant United States Attorney Villafana re-initiated the federal grand jury investigation—in
direct contravention of the parties’ Non Prosecution Agreement—and issued yet another
subpoena seeking evidence in this case. See Tab 19, Subpoena In the
subpoena, AUSA Villafana directs | appear on July 1, 2008 to give testimony
and produce documents to FGJ 07-103 West Palm Beach. The attachment to the subpoena seeks
documents such as photographs, emails, telephone billing information, and contact information
that relate to Mr. Epstein as well as specific other people who received protection from federal

HOUSE_OVERSIGHT_012131
"
IMAGES-007-HOUSE_OVERSIGHT_022865.txt,"Epstein’s long-time business thesis is that the rich
know very little about money. They may know about
their own businesses, but the great sums that are the
result are ultimately an afterthought and demand an
entirely different sort of intellectual discipline. The
Forbes 400, says Epstein, not immune to an amount of
wonder, increased their wealth by $500 billion last year,
meaning, in effect, that on average every Forbes-list
billionaire makes more than another billion every year.
And, points out the 62-year-old Epstein, they will
almost all be dead in 40 years, most well before that,
meaning $4.2 trillion, compounding everyday, will have
to be given away. “So, to understand the future, what
you have to begin to do is follow the money, not in
Watergate-like terms backwards, as in who has gotten it,
but forwards to where it will go and who will get it.”

Epstein can find himself echoing aspects of
Thomas Piketty on the inequities of the accumulation of
wealth (“the divide is between people with assets, which
appreciate, and people without assets, who fail to
advance—that is, of course, the miracle of compounded
interest”), except for the fact that Epstein, knowing the
rich, understands a point that Piketty doesn’t: “Nobody,
nobody, wants to give it all to their children. Everybody
now has the modern appreciation that one of the curses
of great wealth is that it can make your kids weird and
fucked up.”

Epstein’s position in this private allotment of a
decent fraction of the U.S. Gross Domestic Product is

HOUSE_OVERSIGHT_022865
"
IMAGES-008-HOUSE_OVERSIGHT_025829.txt,"On Sep 19, 2014 7:48 AM, ""jeffrey E."" <jeevacation@gmail.com > wrote:

""girls?"",, careful 1 will renew an old habit, . this week, thiel, summers,bill burns, gordon brown,
jagland, ( council of europe and nobel chairman ). mongolia pres , hardeep puree ( india), boris ( gates).
jabor ( qatar ). sultan ( dubai, ), kosslyn (harvard), leon black, woody. you are a welcome guest at

any..... also if you think there are interesting people in town, everyone here for climate summit , clinton
security council, holy shit im :.té«iS next 30 minutes

On Fri, Sep 19, 2014 at 7:15 AM, Kathy Ruemmler ie:

Most girls do not have to worry about this crap.
On Sep 19, 2014 7:09 AM, ""jeffrey E."" <jeevacation@gmail.com> wrote:

understood. it comes down to high risk /reward / low risk / reward. professional , emotional. and
financial

On Fri, Sep 19, 2014 at 6:15 AM, Kathy Ruemmler | cote:
Agreed, but I need to be prepared to say yes before I talk to him.

Sent from my iPad
On Sep 19, 2014, at 1:21 AM, ""jeffrey E."" <jeevacation@gmail.com > wrote:

You need to talk to boss

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com , and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may

HOUSE_OVERSIGHT_025829
"
IMAGES-011-HOUSE_OVERSIGHT_031777.txt,"If the company didn't agree, Avenatti threatened an immediate press conference amid the
NCAA basketball tournament about Nike making payments to youth players and their
families, prosecutors said, an event he promised would snowball into more bad press and
people coming forward with claims of recruiting malfeasance.

In a recorded phone call, Avenatti told Nike attorneys that if the company tried to
negotiate a cap on the investigation fees, he would go public and ""take a billion dollars off
your client's market cap,"" according to the complaint. At a March 21 meeting in New
York, Avenatti allegedly continued to wield threats and press for the investigator role, at
one point asking Nike attorneys if they'd ever had ""the balls of a client in [their] hands.""

""Michael Avenatti may be the best lawyer in the world, according to Michael Avenatti, but
there are appropriate courses of conduct to address an alleged wrongdoing, and I don't
see how a demand of, 'Give me a job and pay me $12 million,' is ever going to make the
client whole,"" Saland said.

Adam Felsenstein, a white collar defense specialist at Gallet Dreyer & Berkey LLP, called
the prosecutor's narrative ""very extortive,"" particularly on the allegation regarding
Avenatti's demand to be hired directly by the company. If that element of the charges is
well-founded, it would effectively leave Avenatti without a ""cloak of legitimacy"" that he
was acting solely to resolve a dispute on behalf of his client.

The complaint ""doesn't even refer to anticipated litigation. It's just, 'I'm going to reveal
embarrassing information unless you pay me.' And once you start asking for money for
yourself like that, you trend into extortion,"" Felsenstein said.

Barry Temkin of Mound Cotton Wollan & Greengrass LLP similarly characterized the
alleged scheme as ""brazen,"" and voiced doubt Avenatti would be able to argue that he
could pressure Nike to hire him as an investigator and stay within the legal lines.

""He's going to them with a demand that they hire him even as he's threatening them with
this press conference, which is screwed up on a lot of levels,"" he said. ""It's ambulance
chasing, which is unethical. It's a conflict of interest, and who would want to hire someone
to do an internal investigation who is also shaking them down?""

Avenatti was arrested Monday just after he announced via Twitter an impending press
conference about a ""major high school/college basketball scandal"" and criminal conduct
""at the highest levels of Nike.""

In an unrelated action, federal officials in California charged Avenatti on Monday with
defrauding a client out of a $1.6 million settlement and lying to a Mississippi bank to

secure loans for his firm and a coffee business.

Avenatti was released in New York later in the day after posting a $300,000 bond. He is
due in court on the California case on Monday. He did not respond to multiple requests

HOUSE_OVERSIGHT_031777
"
IMAGES-009-HOUSE_OVERSIGHT_026969.txt,"Investment Gold man
Management

Important Information Division

Tax Information. GS does not provide legal, tax or accounting advice, unless explicitly agreed in writing between you and GS, and does not offer the sale of insurance products. You should obtain
your own independent tax advice based on your particular circumstances. The information included in this presentation, including, if shown, in the Tax Summary section, does not constitute tax
advice, has not been audited, should not be used for tax reporting, and is not a substitute for the applicable tax documents, including your Form 1099, Schedule K-1 for private investments, which we
will provide to you annually, or your monthly GS account statement(s). The cost basis included in this presentation may differ from your cost basis for tax purposes. Information regarding your
alternative investments and transactions for retirement accounts are not included in the Tax Summary section. Any statement contained in this presentation concerning U.S. tax matters is not
intended or written to be used and cannot be used for the purpose of avoiding penalties imposed on the relevant taxpayer. Realized and unrealized gains and loss values do not include securities for
which cost basis is unavailable. Losses reflected may be disallowed or deferred by the application of capital loss limitations, wash sale rules or other special tax rules.

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such offer or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation.

© 2019 Goldman Sachs. All rights reserved.

25

HOUSE_OVERSIGHT_026969
"
IMAGES-010-HOUSE_OVERSIGHT_029571.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

Elisa New

Powell M. Cabot Professor of American Literature
Director, Poetry in America

Harvard University

148 Barker Center

12 Quincy Street

Cambridge, MA

02138

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029571
"
IMAGES-002-HOUSE_OVERSIGHT_013097.txt,"10.5 How Might the Mind-World Correspondence Principle Be Useful? 181

That is, a little more loosely: the hypothesis is that, for intelligence to occur, there has to be a
natural correspondence between the transition-sequences of world-states and the corresponding
transition-sequences of mind-states, at least in the cases of transition-sequences leading to
relevant goals.

We suspect that a variant of the above proposition can be formally proved, using the definition
of general intelligence presented in Chapter 7. The proof of a theorem corresponding to the
above would certainly constitute an interesting start toward a general formal theory of general
intelligence. Note that proving anything of this nature would require some attention to the
time-scale-dependence of the link weights in the transition graphs involved.

A formally proved variant of the above proposition would be in short, a ""MIND-WORLD
CORRESPONDENCE THEOREM.""

Recall that at the start of the chapter, we expressed the same idea as:

MIND-WORLD CORRESPONDENCE-PRINCIPLE

For a mind to work intelligently toward certain goals in a certain world, there should be a
nice mapping from goal-directed sequences of world-states into sequences of mind-states, where
""nice"" means that a world-state-sequence W composed of two parts W, and Ws, gets mapped
into a mind-state-sequence M composed of two corresponding parts MM, and Mg.

That is a reasonable gloss of the principle, but it’s clunkier and less accurate, than the
statement in terms of functors and path transfer functions, because it tries to use only common-
language vocabulary, which doesn’t really contain all the needed concepts.

10.5 How Might the Mind-World Correspondence Principle Be
Useful?

Suppose one believes the Mind-World Correspondence Principle as laid out above so what?

Our hope, obviously, is that the principle could be useful in actually figuring out how to
architect intelligent systems biased toward particular sorts of environment. And of course, this
is said with the understanding that any finite intelligence must be biased toward some sorts of
environment.

Relatedly, given a specific AGI design (such as CogPrime), one could use the principle to
figure out which environments it would be best suited for. Or one could figure out how to
adjust the particulars of the design, to maximize the system’s intelligence in the environments
of interest.

One next step in developing this network of ideas, aside from (and potentially building on)
full formalization of the principle, would be an exploration of real-world environments in terms
of transition graphs. What properties do the transition graphs induced from the real world
have?

One such property, we suggest, is successive refinement. Often the path toward a goal in-
volves first gaining an approximate understanding of a situation, then a slightly more accurate
understanding, and so forth — until finally one has achieved a detailed enough understanding to
actually achieve the goal. This would be represented by a world-path whose nodes are state-sets
involving the gathering of progressively more detailed information.

HOUSE_OVERSIGHT_013097
"
IMAGES-001-HOUSE_OVERSIGHT_010726.txt,"Honorable Mark Filip
May 19, 2008
Page 4

These statutes are intended to target crimes of a truly national and international scope.
Specifically, § 1591 was enacted to combat human trafficking, § 2422 is aimed at sexual
predation of minors through the Internet, and § 2423 deals with sex tourism. The nature of these
crimes results in multi-jurisdictional problems that state and local authorities cannot effectively
confront on their own. However, Mr. Epstein’s conduct was purely local in nature and, thus,
does not implicate federal involvement. After researching every reported case brought under 18
U.S.C. §§ 1591, 2422(b), and 2423(b), we found that not a single case involves facts or a
scenario similar to the situation at hand. Our review of each precedent reflects that there have
been no reported prosecutions under § 1591 of a ‘john’ whose conduct with a minor lacked
force, coercion, or fraud and who was not profiting from commercial sexual trafficking. There
have likewise been no cases under § 2422(b)—a crime of communication—where there was no
use of the Internet, and where the content of phone communications did not contain any inducing
or enticing of a minor to have illegal sexual activity as expressly required by the language of the
statute. Furthermore, the Government’s contention that “routine and habit” can fill the factual
and legal void created by the lack of evidence that such a communication ever occurred sets this
case apart from every reported case brought under § 2422(b). Lastly, there are no reported cases
of violations of § 2423(b) of a person whose dominant purpose in traveling was merely to go to
his own home.?

Although these matters were within the scope of the CEOS review, rather than
considering whether federal prosecution is appropriate, CEOS only determined that U.S.
Attorney Acosta “would not be abusing his prosecutorial discretion should he authorize federal
prosecution” in this case. The “abuse of discretion” standard constitutes an extremely low bar of
evaluation and while it may be appropriate when the consideration of issues are exclusively
factual in nature, this standard fails to address concerns particular to this situation, namely the
“novel application” of federal statutes. The “abuse of discretion” standard in such pure legal
matters of statutory application risks causing a lack of uniformity. The same federal statutes that
would be stretched beyond their bounds in Miami have been limited to their heartland in each of
the other federal districts. Also, because this case implicates broader issues of the administration
of equal justice, federal prosecution in this matter risks the appearance of selectivity in its
stretching of federal law to fit these facts.

3 Federal prosecution of a man who engaged in consensual conduct in his home that amounted to, at most, the
solicitation of prostitution, is unprecedented. Since prostitution is fundamentally a state concern, (see United
States v. Evans, 476 F.3d 1176, n.1 (11th Cir. 2007) (federal law “does not criminalize all acts of prostitution (a
vice traditionally governed by state regulation)”)), and there is no evidence that Palm Beach County authorities
and Florida prosecutors cannot effectively prosecute and punish the conduct, there is no reason why this matter
should be extracted from the hands of state prosecutors in Florida.

HOUSE_OVERSIGHT_010726
"
IMAGES-001-HOUSE_OVERSIGHT_011438.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

H3vlgiu2

adverse inference motions. We're a mov

reciprocal motions both ways on this.

available, if that would be useful.

defendant's motion and 689 is our motion.

the two motions going, obviously, in di

Your Honor is familiar with th

1.35

ing party. There are

I have the numbers

I believe 673 is the

So those would be

fferent directions.

se issues because of

the Epstein adverse inference motion that was argued I think
two weeks ago by me, and at that time -- I know you have not
yet formally ruled on the motion, but there was extensiv

discussion about could we just kick this down the road to the

trial and see, you know,

what Epstein says at

that time and,

you know, after he testifies, sort

adverse inferenc Again,

think I indicated at the time that certainly from Ms.

point of view,

Mr. Epstein in that way.

you haven't ruled on that,

out whether there's an

but I

Giuffre's

we would have no objection to handling

I want to make clear that we would

also have no objection to handling the Marcinkova and Kellen

issue in that way as well. You can put

them on via deposition,

and then we could sort out in the context of the case with a

full record whether an adverse inferenc

But

we surface

you'd have to do on the fly in

the allegations, of course, that have b

the middle of trial.

is appropriate.

the issue for you now so it wouldn't be something

And all

I think

it's important to put Kellen and

scheme, if you will. The top of

the conspiracy is Mr.

n made here,

Marcinkova on the conspiracy

Epstein,

SOUTHERN DISTRICT REPORT

ERS, P.C.

(212) 805-0300

HOUSE_OVERSIGHT_011438
"
IMAGES-010-HOUSE_OVERSIGHT_030020.txt,"=

politico.com / BRYAN BENDER The Trump administration wants to
get back to the moon—but Beijing's single-minded focus could outpace a
NASA with competing priorities. Shortly after...

Stonewall at 50: Stories of resistance
and resilience

HOUSE_OVERSIGHT_030020
"
IMAGES-010-HOUSE_OVERSIGHT_029565.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 1/4/2018 7:45:38 PM

To: Robert Trivers
Subject: Re: you and Chapman

Nice

On Thu, Jan 4, 2018 at 2:36 PM Robert Trivers {iE wrote:

attached a message i just sent to President Struppa of Chapman—i am certain that your gift will do the trick—

and that the West Coast is indeed more convivial and supportive than the East

i hope i did not f... up your contact with Finkelstein

Carlos told me of the devastation to your island—pretty much as i feared

am amused (at a safe distance) as Bannon takes on Trump—he responds as he always does, threatening a suit

he will not in fact file

no internet in my home or nearby in the great, retarded country of Jamaica so 1 am now at a restaurant some 35

minutes away and only go on-line twice a day—hoping that i will work instead

all best
please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029565
"
IMAGES-001-HOUSE_OVERSIGHT_010732.txt,"Kenneth W. Starr Joe D. Whitley
Kirkland & Ellis LLP Alston & Bird LLP
777 South Figueroa Street The Atlantic Building

Angeles, CA 90017-5800 950 F Street, NW

, DC _
May 27, 2008

VIA FACSIMILE I CONFIDENTIAL

Honorable Mark Filip

Office of the Deputy Attorney General
United States Department of Justice
950 Pennsylvania Avenue, N.W.
Washington, D.C. 20530

Dear Judge Filip:

This letter briefly supplements our prior submission to you dated May 19, 2008. In that
communication, we urgently requested that your Office conduct an independent review of the
proposed federal prosecution of our client, Jeffrey Epstein. The dual reasons for our request that
you review this matter are (i) the bedrock need for integrity in the enforcement of federal
criminal laws, and (ii) the profound questions raised by the unprecedented extension of federal
law by the United States Attorney’s Office in Miami (the “USAO”) to a prominent public figure
who has close ties to former President Clinton.

The need for review is now all the more exigent. On Monday, May 19, 2008, First
Assistant Jeffrey Sloman of the USAO responded to an email from Jay Lefkowitz informing U.S.
Attorney Alex Acosta that we would be seeking your Office’s review. Mr. Sloman’s letter,
which imposed a deadline of June 2, 2008 to comply with all the terms of the current Non-
Prosecution Agreement (the “Agreement”), plus new unilateral modifications, on pain of being
deemed in breach of that Agreement, appears to have been deliberately designed to deprive us of
an adequate opportunity to seek your Office’s review in this matter.

The USAO’s desire to foreclose a complete review is understandable, given that the
Child Exploitation and Obscenity Section (“CEOS”) has already determined that our substantive
arguments regarding why a federal prosecution of Mr. Epstein is not warranted were
“compelling.” However, in contradiction to Mr. Sloman’s assertion that CEOS had provided an
independent, de novo review, CEOS made clear that it did not do so. Indeed, CEOS declined to
examine several of the more troubling aspects of the investigation of Mr. Epstein, including the
deliberate leak to the New York Times of numerous highly confidential aspects of the
investigation and negotiations between the parties as well as the recent crop of civil lawsuits
filed against Mr. Epstein by Mr. Sloman’s former law partner.

The unnecessary and arbitrarily imposed deadline set by the USAO was done without any

respect for the normal functioning and scheduling of state judicial matters. It requires that
Mr. Epstein’s counsel persuade the State Attorney of Palm Beach to issue a criminal information

HOUSE_OVERSIGHT_010732
"
IMAGES-002-HOUSE_OVERSIGHT_013083.txt,"9.4 Naive Physics 167

when you figure out that you need to pressure the knife slightly harder when spreading peanut
butter rather than jelly, you’re not making this judgment using Newtonian physics or the
Navier-Stokes equations of fluid dynamics; you’re using heuristic patterns that you figured out
through experience. Maybe you figured out these patterns through experience spreading peanut
butter and jelly in particular. Or maybe you figured these heuristic patterns out before you ever
tried to spread peanut butter or jelly specifically, via just touching peanut butter and jelly to
see what they feel like, and then carrying out inference based on your experience manipulating
similar tools in the context of similar substances.
Other examples of similar “naive physics” patterns are easy to come by, e.g.

What goes up must come down.

A dropped object falls straight down.

A vacuum sucks things towards it.

Centrifugal force throws rotating things outwards.

An object is either at rest or moving, in an absolute sense.

Two events are simultaneous or they are not.

When running downhill, one must lift one’s knees up high.

When looking at something that you just barely can’t discern accurately, squint.

CONOR WN

Attempts to axiomatically formulate naive physics have historically come up short, and we
doubt this is a promising direction for AGI. However, we do think the naive physics literature
does a good job of identifying the various phenomena that the human mind’s naive physics deals
with. So, from the point of view of AGI environment design, naive physics is a useful source
of requirements. Ideally, we would like an AGI’s environment to support all the fundamental
phenomena that naive physics deals with.

We now describe some key aspects of naive physics in a more systematic manner. Naive
physics has many different formulations; in this section we draw heavily on [SC94], who divide
naive physics phenomena into 5 categories. Here we review these categories and identify a
number of important things that humanlike intelligent agents must be able to do relative to
each of them.

9.4.1 Objects, Natural Units and Natural Kinds

One key aspect of naive physics involves recognition of various aspects of objects, such as:

Recognition of objects amidst noisy perceptual data

Recognition of surfaces and interiors of objects

Recognition of objects as manipulable units

Recognition of objects as potential subjects of fragmentation (splitting, cutting) and of
unification (gluing, bonding)

Recognition of the agent’s body as an object, and as parts of the agent’s body as objects
6. Division of universe of perceived objects into “natural kinds”, each containing typical and
atypical instances

mw N

Gr

HOUSE_OVERSIGHT_013083
"
IMAGES-010-HOUSE_OVERSIGHT_030034.txt,"5

freedom, independence, and sovereignty -- at the hand of a foreign
power, namely Iran. The Syrian uprisings may have already deepened
the sectarian divide in Lebanon, raising once more the specter of civil
war and making more difficult the task of forming a new government,
a job President Michel Suleiman has entrusted to the Tripoli notable,
Najib Mikati. If Syria were overrun with internal strife, Hezbollah
would be deprived of a valuable ally -- no doubt to Israel's great
satisfaction.

Meanwhile, Turkey is deeply concerned by the Syrian disturbances:
Damascus has been the cornerstone of Ankara's ambitious Arab
policy. Turkey-Syria relations have flourished in recent years as
Turkey-Israel relations have grown cold. Prime Minister Recep
Tayyip Erdogan and his foreign minister, Ahmet Davutoglu, have
actively sought to mediate local conflicts and bring much-needed
stability to the region by forging close economic links. One of their
bold projects is the creation of an economic bloc comprising Turkey,
Syria, Lebanon, and Jordan -- already something of a reality by the
removal of visa requirements as well as by an injection of Turkish
investment and technological know-how. A power struggle in Syria
could set back this project; and regime change in Damascus would
likely put a serious dent in further Turkish initiatives.

Turkey's loss, however, may turn out to be Egypt's gain. Freed from
the stagnant rule of former President Hosni Mubarak, Cairo is now
expected to play a more active role in Arab affairs. Instead of
continuing Mubarak's policy, conducted in complicity with Israel, of
punishing Gaza and isolating its Hamas government, Egypt is
reported to be pushing for a reconciliation of the rival Palestinian
factions, Hamas and Fatah. If successful, this could help defuse the
current dangerous escalation of violence between Israel on the one
side and Hamas and still more extreme Gaza-based Palestinian

HOUSE_OVERSIGHT_030034
"
IMAGES-006-HOUSE_OVERSIGHT_021931.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

108

I'm sure it's probably --
THE WITNESS: It's all right.
MR. SIMPSON: That's okay with you?
THE WITNESS: Sure.
BY MR. SIMPSON:

Q. Would you agree with me that accusing a
person of -- an adult of engaging in sex with a minor is
a serious accusation?

A. Sure.

Q. And would you agree with me that the cause of
victims' rights is harmed and not furthered by false
allegations of sexual abuse?

A. Sure.

Q. I want to go back. I'm going to follow up on

some aspects of your answer.

A. Sure.
Q. Kind of work my way through some of those.
A. Sure.

Q. But first let me -- let me ask this: You
drew in your answer a lot of inferences based on the
facts or information you -- you recited, inferences that
Professor Dershowitz had engaged in the conduct alleged;
is that fair to say?

A. I think part of it was -- was inference, part

of were the facts. I mean, you say a lot of inferences.

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021931

"
IMAGES-007-HOUSE_OVERSIGHT_022871.txt,"Epstein, preternaturally responsive to both the price
of oil and to the politics of the Middle East, entertained
that evening a delegation from Qatar, including Sheikh
Hamad Bin Jassim, the foreign minister. Hamad ,
indeed, lives across the street in a similarly furnished
house—he and Epstein have the same decorator.
Epstein, in his relaxed and amused manner, kept
prodding: “Why are you financing the bad guys? What
do you get out of that?” The Qatarians, in some mild
diplomatic discomfort, seemed most worried that their
bid for the World Cup might be compromised by
bribery allegations.

At 9 the next morning, Epstein was joined for
breakfast in the dining room by Reid Weingarten, who’s
represented, among other fat cats in trouble,
Worldcom’s Bernie Ebbers and Goldman Sach’s Lloyd
Blankfein, and is one of attorney general Eric Holder’s
closest friends. Weingarten, hoarse, with a cold, and
dejected, is just back from a failed defense of former
Connecticut Governor John Rowland.

After a blow by blow of the trial, there’s a
discussion of the Qartarian’s visit—Epstein is serving
chocolate made from pistachios grown on the Sheikh’s
farm—and speculation about who actually controls
ISIS, with Weingarten arguing that the Turks are not
getting enough scrutiny (he posits that ISIS is part of
their proxy war against the Kurds). There is, in
Epstein’s dining room, always an alternative version of
world events—” “perception versus reality,” says

HOUSE_OVERSIGHT_022871
"
IMAGES-001-HOUSE_OVERSIGHT_012125.txt,"Edwards adv. Epstein
Telephone interview with Virginia Roberts
Page 19 of 23

V: I can’t remember which one it was. I want to say Bill Riley is the good one.

JS: Alright, so either Bill Riley or a Mr. Goldberger or both of them contacted you, and what
do you remember about that?

V: I don’t know if it was the same guy who contacted me that week later who put me in
touch with Jeffrey. I think he was on the phone and he put speakerphone on with Jeffrey.
So he connected me with Jeffrey. I don’t know if it was the same guy or different, but I
definitely know that Bill Riley was the first guy to contact me. I’m pretty sure about that.

JS: Ok. Tell me about that conversation.

V: He asked me what I knew about what’s going on with Jeffrey and apparently, there was
an investigation being held about some of the girls who had come out and said that
Jeffrey had sexual contact with them under the age of a minor and that he was
discrediting lot of these girls and making them out to be drug addicts and prostitutes and
what have you so they wouldn’t be looked upon as worthy in the court’s eyes so to speak.
And you know, he told me in the first five minutes that, you know, if I stay quiet, that
“T’ll be looked after” . And that was the exact way it was said. It wasn’t like you know,
I’m gonna pay you a zillion dollars or anything if you be quiet, but if I stay quiet, I would
“looked after”. And I remember saying I don’t want any part to do with this. You know,
this is not something I want to be a part of, ve got a young family. I wish the best for
everybody in this, you know, take care kind of thing. A week later, I was called after the
hearing by one of Jeffrey’s lawyers. I can’t tell you exactly which one it was but he had
Jeffrey on the other line and he connected Jeffrey and I, and Jeffrey tried to make some
simple conversation, “How are you? How have things been?” You know what I mean,
catching up.

JS: Do you know if the lawyer, did the lawyer stay on the line while Jeffrey was speaking to
you?

V: I’m pretty sure he did. That’s why I think Jeffrey was on speaker phone because it
sounded a lot different, and I was never taken off the line to begin with or connected to
another line, so I was pretty sure Jeffrey was on speaker phone and the lawyer was
making the call. After the simple conversation, it led to what was going on again and you
know, Jeffrey couldn’t believe it. You know, he thought he helped all these girls out. He
didn’t think he was wrong in any circumstance here at all. A lot of these girls were drug
addicts and just after drug money. You know, he was really putting down these women
or these girls I should say, not giving them the credit they deserved, and then he exactly
repeated what the lawyer said the week before is that he would look after me if I stayed
quiet, and if I need any help, you know, his lawyers would represent me and he would get
legal help for me, whatever I need, he would do, and I told him exactly, I said, “Jeffrey,
I’m the mother of two children at that stage. I’m away from everything there, I don’t
want to be a part of it. I’m not going to speak to anybody and I don’t want to speak to
anybody, I don’t want to be involved.” That was the last time I heard from him. And the

HOUSE_OVERSIGHT_012125
"
IMAGES-011-HOUSE_OVERSIGHT_031763.txt,"Trump has evolved from FDR’ s fireside chat to morning tweets.

Feckless cunt, anyone?

Zapped by the God of Absurdity: The Best of Paul Krassner will be
published in 2019 by Fantagraphics with an introduction by Andy Borowitz.

HOUSE_OVERSIGHT_031763
"
IMAGES-003-HOUSE_OVERSIGHT_015905.txt,"Turing’s Machine 215

The advantage of this cipher is that I can easily remember the name
George. I don’t need to write it down. And the circular application makes
the message sufficiently obscure you cantt easily work it out...

Is this, therefore, a good code?

No.

This cipher is easy to break. Once you have guessed that I have
applied a repeated short code word, you can write out ALL the possibilities
and decrypt my message! This may be tedious, but if you are fighting a
war and your life depends on it, you can employ a thousand people to
write them all out. The British government employed 10,000 people at
Bletchley Park, many of them doing exactly this. You might think that
applying ALL the possibilities is too time consuming in practice but
there are many shortcuts. If I suspect the message contains the name
of a German town all I need do is try keys until I find a German town
somewhere in the message then work my way outwards from there. Or
perhaps I suspect the key is something easy to remember like the name
of the Commandant’s dog. I can try ALL German dog names until I get
lucky. If I’ve 10,000 people working for me this is easy.

The Enigma machine and the coding process set up to operate it
was designed to remove these loopholes. For a start, the keys were all
random numbers taken from a code book — no dog names allowed — and
the machine took the idea of a simple progressive cipher and made it
much more complex.

Imagine I took my GeorgeGeorgeGeorge pattern but then every
3"" character added one, every 14"" character subtracted 15 and every
40"" character added the 3™ letter of the First Mate’s mother’s maiden
name. Now this would be a VERY hard code to break. I would need a
machine to code messages because if I tried to do it by hand I would
make so many mistakes that the messages I send would be unintelligible.
The Enigma machine made these coding schemes a practical possibility.
But, although Enigma is hard to break it is not impossible with enough
computing power. Is there any code that is impossible to break?

An Unbreakable code

Is there a way of coding a message so you can never break it?

The answer is there are two ways to code a message so it is
PERFECTLY safe. The first is to use a one-time pad and the second is
quantum cryptography.

HOUSE_OVERSIGHT_015905
"
IMAGES-011-HOUSE_OVERSIGHT_031005.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 10/9/2009 5:19:34 PM
To: Mortimer Zuckerman
Subject: Fwd: Daily News story on Jeffrey Epstein

a Forwarded message ----------

From: Darren Indyke a -

Date: Fri, Oct 9, 2009 at 12:32 PM

Subject: Fwd: Daily News story on Jeffrey Epstein

To: Jeevacation <jeevacation@gmail.com>

Just woke up to find this from Howard. A
going to canyons today, so not sure about phone reception.

Sent from my iPhone

Begin forwarded message:

From: Howard Rubenstein (i i

Date: October 9, 2009 7:26:54 AM PDT
To:
Subject: FW: Daily News story on Jeffrey Epstein

Hi Darren:
I hope you are well.

Since we are no longer working for Jeffrey, ’'m forwarding this Daily News request to you so you can handle it as you see
fit.

Many thanks,

Howard

From: Rush, George [mailto

Sent: Thursday, October 08, 2009 11:08 PM
To: Howard Rubenstein

Subject: Daily News story on Jeffrey Epstein

Howard:

We’re working on a story for our Sunday column about Jeffrey Epstein. I thought I might send
my questions to you tonight, so you’d have them first thing tomorrow.

HOUSE_OVERSIGHT_031005
"
IMAGES-008-HOUSE_OVERSIGHT_025183.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by

return e-mail or by e-mail to jeevacation@gmail.com, and

HOUSE_OVERSIGHT_025183
"
TEXT-001-HOUSE_OVERSIGHT_021806.txt,"From: 
Sent: Saturday, January 3, 2015 10:34 PM 
To: jeffrey E. 
Subject: Re: 
Importance: High 
I loved Alan's response... 
Sent from my iPhone 
On Jan 3, 2015, at 5:21 PM, jeffrey E. <jeevacation(&,gmail.com> wrote: 
is detailing her version of my many parties, clinton on the island dershowitz 
having sex with her. . all fantasy but the press love it. 
On Sat, Jan 3, 2015 at 6:03 PM, 
wrote: 
Why now? Something new? 
Sent from my iPhone 
On Jan 3, 2015, at 2:12 PM, jeffrey E. <jeevacation(&,gmail.com> wrote: 
prince andrew under fire. ignore. 
On Sat, Jan 3, 2015 at 12:54 PM, wrote: 
Why is the press calling me? 
Sent from my iPhone 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation(&,gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
1 
HOUSE OVERSIGHT 021806 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation(&,gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
2 
HOUSE OVERSIGHT 021807 
"
TEXT-002-HOUSE_OVERSIGHT_033062.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 1/4/2018 6:17:52 PM 
To: Kathy Ruemmler 
Subject: Re: 
Great 
On Thu, Jan 4, 2018 at 1:10 PM Kathy Ruemmler < > wrote: 
Finally got the apartment so can ""move in"" tomorrow. 
On Jan 4, 2018, at 10:29 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
https://www.google.com/amp/s/www.hollywoodreporter.com/amp/news/michael-wolff-my-insane-year-inside-
trumps-white-house-1071504  
On Thu, Jan 4, 2018 at 10:27 AM, Kathy Ruemmler < > wrote: 
Now being reported that Trump's lawyers sent a letter to MW's publisher demanding that they not publish the 
book. 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 033062 
"
IMAGES-005-HOUSE_OVERSIGHT_019970.txt,"In most White Houses, policy and action flow down, with staff trying to implement
what the president wants—or, at the very least, what the chief of staff says the president
wants. In the Trump White House, policy making, from the very first instance of Bannon’s
immigration EO, flowed up. It was a process of suggesting, in throw-it-against-the-wall
style, what the president might want, and hoping he might then think that he had thought
of this himself (a result that was often helped along with the suggestion that he had in fact
already had the thought).

Trump, observed Walsh, had a set of beliefs and impulses, much of them on his mind
for many years, some of them fairly contradictory, and little of them fitting legislative or
political conventions or form. Hence, she and everyone else was translating a set of
desires and urges into a program, a process that required a lot of guess work. It was, said
Walsh, “like trying to figure out what a child wants.”

But making suggestions was deeply complicated. Here was, arguably, the central issue
of the Trump presidency, informing every aspect of Trumpian policy and leadership: he
didn’t process information in any conventional sense—or, in a way, he didn’t process it at
all.

Trump didn’t read. He didn’t really even skim. If it was print, it might as well not exist.
Some believed that for all practical purposes he was no more than semiliterate. (There was
some argument about this, because he could read headlines and articles about himself, or
at least headlines on articles about himself, and the gossip squibs on the New York Post’s
Page Six.) Some thought him dyslexic; certainly his comprehension was limited. Others
concluded that he didn’t read because he just didn’t have to, and that in fact this was one
of his key attributes as a populist. He was postliterate—total television.

But not only didn’t he read, he didn’t listen. He preferred to be the person talking. And
he trusted his own expertise—no matter how paltry or irrelevant—more than anyone
else’s. What’s more, he had an extremely short attention span, even when he thought you
were worthy of attention.

The organization therefore needed a set of internal rationalizations that would allow it
to trust a man who, while he knew little, was entirely confident of his own gut instincts
and reflexive opinions, however frequently they might change.

Here was a key Trump White House rationale: expertise, that liberal virtue, was
overrated. After all, so often people who had worked hard to know what they knew made
the wrong decisions. So maybe the gut was as good, or maybe better, at getting to the heart
of the matter than the wonkish and data-driven inability to see the forest for the trees that
often seemed to plague U.S. policy making. Maybe. Hopefully.

Of course, nobody really believed that, except the president himself.

Still, here was the basic faith, overriding his impetuousness and eccentricities and
limited knowledge base: nobody became the president of the United States—that camel-

HOUSE_OVERSIGHT_019970
"
IMAGES-005-HOUSE_OVERSIGHT_020129.txt,"Kasowitz, Marc, 238, 259-60, 280-81

Kazakhstan, 281

Keaton, Alex P., 128

Kelly, John, 4, 63, 109, 188, 218, 285, 287-91, 294-97, 299-300, 304-7
Kennedy, John F., 53, 84

Kent, Phil, 92

Khan Sheikhoun chemical attack, 183-84, 188-93

Kim Jong-un, 293

King, Martin Luther, Jr., 50-51

Kirk, Russell, 127

Kislyak, Sergey, 95, 106, 151, 154-55, 218, 236
Kissinger, Henry, 41, 77, 142, 145, 193, 226-28
Koch brothers, 178

Kudlow, Larry, 143, 207

Ku Klux Klan (KKK), 294-95

Kurtz, Howard, 217

Kushner, Charlie, 17, 31, 72, 210-11, 257, 281
Kushner, Jared

background of, 28, 71-76, 80-81

Bannon and, 8, 12, 52-53, 68, 110, 115, 132-34, 140, 14547, 154, 173-74, 176, 179-82, 187, 191, 207-8, 235-36,

238-39, 243, 245-47, 274, 276, 281, 289, 291, 297
business affairs of, 17-18, 102, 211, 256, 281
business council and, 35, 87-88
Charlottesville rally and, 294
China and, 193, 211, 228
Christie and, 31
Comey and, 168—70, 210-14, 216-18, 232, 243, 245, 280, 307
CPAC and, 132-34
electoral victory and, 10, 12, 18-19, 45, 60, 103, 112
intelligence community and, 41-42, 48, 156-57
Kelly and, 288-91, 294, 305-6
McMaster and, 176, 189, 192-93, 235, 266, 289
media and, 68-69, 76, 146, 202-3, 207, 277-79
Mexico and, 77-78
Middle East and, 70, 140-43, 145, 157, 182, 192, 194, 211, 266, 268
Murdoch and, 73, 156, 179
Obamacare and, 72, 166-68

Office of American Innovation and, 181, 207

policy and, 115-25, 226, 228

role of, in White House, 29-30, 40-41, 64, 69-72, 77, 93, 109, 172, 285

HOUSE_OVERSIGHT_020129
"
TEXT-001-HOUSE_OVERSIGHT_029282.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 3/16/2017 11:26:44 AM 
To: Reid Hoffman 
; Joi Ito 
a HUGE donor advised fund is an elegant solution to the cuts trump proposes to what some consider critical 
programs. you could organzie a huge public charity that would continue the work of many worthwhile 
orgs. not my thing but structurally beautiful. its the wealthiest now stepping into a quasi govt 
funding. national endowment for arts. climate science. as extraordinary amounts of wealth have moved 
into private hands. elons and jeff space goals should be mirrored with many other former govt ones. hope 
to see you soon 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029282 
"
IMAGES-010-HOUSE_OVERSIGHT_029203.txt,"From: Deepak Chopra

Sent: 11/30/2018 3:32:06 PM
To: J [jeevacation@gmail.com]
Subject: Re:

Importance: — High

I’m getting there v late on Sunday
Have filming for Al Gore before
See my text re Monday ?

Deepak Chopra MD

2013 Costa Del Mar Road
Carlsbad, CA 92009

Chopra Foundation

Jiyo

Chopra Center for Wellbeing

www.discoveringyourcosmicself.com

On Nov 30, 2018, at 10:24 AM, J <jeevacation@gmail.com> wrote:

george church and i having lunch at my istittue at harvard sunday. join.?

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029203
"
IMAGES-011-HOUSE_OVERSIGHT_032083.txt,"Susan Pigg focuses on issues about aging and baby boomers. spigg@thestar.ca

Tracking Deal

A downtown L.A. company that creates GPS tracking applications for cell phones has
announced a deal to provide its friend-finding apps on Samsung smart phones.

The deal could mean more than 40 million more downloads, which would translate to increased
revenue, for GTX Corp.’s application, which is currently available for the iPhone, BlackBerry and
Android phones, said GTX Chief Executive Patrick Bertagna.

The LociMobile tracking applications send a GPS signal out to all of a person’s cell phone
contacts who use the app. Bertagna said the app can be used to meet up with friends or keep tabs
on kids.

GTX has also developed a GPS shoe for tracking Alzheimer’s patients.

Staff reporter Natalie Jarvey can be reached atnjarvey@labusinessjournal.com or at (323) 549-
5225, ext. 230.

Read the full story

Senior Gadgets: GPS Shoe May Offer Peace of Mind to Alzheimer’s Caregivers

By Teresa Steinfatt - July 1, 2010 - Safety of loved ones is a top concern for caregivers,
especially those caring for persons with Alzheimer’s disease.

Memory loss and confusion can set in without warning. For example, a loved one might set out on
a walk or errand alone, wander off and not be able to return home safely.

Currently scheduled for retail sale this summer, the Aetrex Ambulator® GPS Shoe by GTX Corp
will provide millions of caregivers the means to help easily find those afflicted with Alzheimer’s
and other forms of dementia who wander and become lost.

Read the full story

GTX Corp (OTCBB: GTXO), a provide of customizable, embedded

2-way GPS Personal Location Services (PLS) solutions, is bringing

personal GPS tracking solutions to the 5.3 million seniors afflicted with dementia by signing a

HOUSE_OVERSIGHT_032083
"
IMAGES-005-HOUSE_OVERSIGHT_019227.txt,"Honorable Mark Filip
May 19, 2008
Page 4

These statutes are intended to target crimes of a truly national and international scope.
Specifically, § 1591 was enacted to combat human trafficking, § 2422 is aimed at sexual
predation of minors through the Internet, and § 2423 deals with sex tourism. The nature of these
crimes results in multi-jurisdictional problems that state and local authorities cannot effectively
confront on their own. However, Mr. Epstein’s conduct was purely local in nature and, thus,
does not implicate federal involvement. After researching every reported case brought under 18
U.S.C. §§ 1591, 2422(b), and 2423(b), we found that not a single case involves facts or a
scenario similar to the situation at hand. Our review of each precedent reflects that there have
been no reported prosecutions under § 1591 of a ‘john’ whose conduct with a minor lacked
force, coercion, or fraud and who was not profiting from commercial sexual trafficking. There
have likewise been no cases under § 2422(b)—a crime of communication—where there was no
use of the Internet, and where the content of phone communications did not contain any inducing
or enticing of a minor to have illegal sexual activity as expressly required by the language of the
statute. Furthermore, the Government’s contention that “routine and habit” can fill the factual
and legal void created by the lack of evidence that such a communication ever occurred sets this
case apart from every reported case brought under § 2422(b). Lastly, there are no reported cases
of violations of § 2423(b) of a person whose dominant purpose in traveling was merely to go to
his own home.?

Although these matters were within the scope of the CEOS review, rather than
considering whether federal prosecution is appropriate, CEOS only determined that U.S.
Attorney Acosta “would not be abusing his prosecutorial discretion should he authorize federal
prosecution” in this case. The “abuse of discretion” standard constitutes an extremely low bar of
evaluation and while it may be appropriate when the consideration of issues are exclusively
factual in nature, this standard fails to address concerns particular to this situation, namely the
“novel application” of federal statutes. The “abuse of discretion” standard in such pure legal
matters of statutory application risks causing a lack of uniformity. The same federal statutes that
would be stretched beyond their bounds in Miami have been limited to their heartland in each of
the other federal districts. Also, because this case implicates broader issues of the administration
of equal justice, federal prosecution in this matter risks the appearance of selectivity in its
stretching of federal law to fit these facts.

3 Federal prosecution of a man who engaged in consensual conduct in his home that amounted to, at most, the
solicitation of prostitution, is unprecedented. Since prostitution is fundamentally a state concern, (see United
States v. Evans, 476 F.3d 1176, n.1 (11th Cir. 2007) (federal law “does not criminalize all acts of prostitution (a
vice traditionally governed by state regulation)”)), and there is no evidence that Palm Beach County authorities
and Florida prosecutors cannot effectively prosecute and punish the conduct, there is no reason why this matter
should be extracted from the hands of state prosecutors in Florida.

HOUSE_OVERSIGHT_019227
"
IMAGES-006-HOUSE_OVERSIGHT_022009.txt,"ATTERSON

king their way to the courthouse,
»nder, and an appearance before
ooner, if only they can make bail.
ney —or at least collateral—and,

y is often what lands people in jail

sosted bail for every single inmate ;
CHAPTER 53

ays in which Epstein is unlike his
| pedophile now. Evena famous one.
tend to fare poorly in jail.
sradshaw, the sheriff in charge of
‘0 the infirmary, where he spends
1g transferred seven miles up the
-]ocation: the Palm Beach County
r, as its known, the Stockade.
ita serial killer,” Ric Bradshaw says.
» are addicts who take part in drug ’
ates, petty criminals, and drunks. 4
in to be, and, unlike other inmates ~
g held in solitary), he'll end up with” 3
1 wing, which he has to himself j
security guard, who sits outside the”
s allowed any number of visitors.
an extraordinary benefits package: 4
radshaw, who also oversees the Sie ke
er the treatment he is receiving.
he had to go to prison at all,” Bra d-

Sheriff Ric Bradshaw: June 2015

a day Ric Bradshaw, “was to make sure nobody
cern. Stent Bradshaw could have stepped off the set of a
4 posingly tall, with his cowboy hat, Kurt Russell
E mustache, and slow, southern drawl, he looks exactly lik
_ old-school law officer—the kind you once would “a a mad
> patrolling the streets of Tombstone, Deadwood, or rah —
a = mn for forty-four years, eleven of which al
x .. the head of the county’s jails. As a rule, he doesn’t
: e media, and today, as he talks about Jeffrey Epstei
he clearly uncomfortable, fidgety, and ill disposed. —_
s Ms wood-paneled office on the first floor of the
v : shaw remembers Epstein quite well.
€ have a thousand sexual predators in the county,” he

hink he belonged there. - When he arrived here, he was one of them. He definitel
itely

200
201

HOUSE_OVERSIGHT_022009
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the latest on New York businesses, arts, sports, dining, style and more. Sign up for the New York Today newsletter."",""textStyle"":""top-newsletter-promo-text-style"",""type"":""text""},{""identifier"":""_anf-divider-2"",""layout"":""ComponentLayout-3"",""role"":""divider"",""stroke"":{""color"":""#ffffff30"",""width"":""1.0pt""},""type"":""line""}],""identifier"":""top-newsletter-promo-banner"",""layout"":""ComponentLayout-1"",""role"":""container"",""style"":""_anf-cs-2"",""type"":""container""},{""identifier"":""_anf-title-1"",""layout"":""default-title"",""role"":""title"",""text"":""A G.O.P. Senate Candidate Highlights His Drug Industry Career. Should He?"",""type"":""text""},{""identifier"":""_anf-author-1"",""inlineTextStyles"":[{""range"":{""length"":16,""start"":35},""textStyle"":""pub-dt""}],""layout"":""default-author"",""role"":""author"",""text"":""By KATIE THOMAS and NICK CORASANITI  SEPT. 24, 2018 "",""type"":""text""}],""identifier"":""_anf-section-1"",""layout"":""default-section"",""role"":""section"",""type"":""section""},{""components"":[{""components"":[{""caption"":""Bob Hugin spoke in 2014 at a groundbreaking ceremony in Summit, N.J., for Celgene, the pharmaceutical company he led until stepping down to run for United States Senate. To his right are Representative Leonard Lance of New Jersey and former Gov. Chris Christie. Mel Evans/Associated Press"",""captionComponent"":{""text"":""Bob Hugin spoke in 2014 at a groundbreaking ceremony in Summit, N.J., for Celgene, the pharmaceutical company he led until stepping down to run for United States Senate. To his right are Representative Leonard Lance of New Jersey and former Gov. Chris Christie. Mel Evans/Associated Press""},""identifier"":""100000006098011_5ba8b80411187"",""imageIdentifier"":""e126e7bde26613f50f2609cb8776d827"",""layout"":""fullbleed-image"",""role"":""photo"",""type"":""scalable_image""},{""identifier"":""_anf-caption-1"",""inlineTextStyles"":[{""range"":{""length"":27,""start"":261},""textStyle"":""photo-credit""}],""layout"":""default-caption"",""role"":""caption"",""text"":""Bob Hugin spoke in 2014 at a groundbreaking ceremony in Summit, N.J., for Celgene, the pharmaceutical company he led until stepping down to run for United States Senate. To his right are Representative Leonard Lance of New Jersey and former Gov. Chris Christie. Mel Evans/Associated Press "",""type"":""text""}],""identifier"":""_anf-container-5"",""layout"":""image-container"",""role"":""container"",""type"":""container""}],""identifier"":""_anf-section-2"",""layout"":""default-section"",""role"":""section"",""scene"":{""fadeColor"":""#FFFFFF"",""type"":""fading_sticky_header""},""type"":""section""},{""additions"":[{""URL"":""https://www.businesswire.com/news/home/20180129005762/en/Celgene-Announces-Retirement-Executive-Chairman-Bob-Hugin"",""range"":{""length"":34,""start"":194},""type"":""link""}],""identifier"":""_anf-body-6"",""inlineTextStyles"":[{""range"":{""length"":363,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":363,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""When Bob Hugin joined Celgene in 1999 as its chief financial officer, the company was a struggling biotech that sold just one product — a leprosy drug — and faced a shaky future. By the time he stepped down as executive chairman in February to run for United States Senate, Celgene had become a pharmaceutical powerhouse with a market value of nearly $80 billion."",""type"":""text""},{""additions"":[{""URL"":""https://ir.celgene.com/press-releases/press-release-details/2018/Celgene-Reports-Fourth-Quarter-and-Full-Year-2017-Operating-and-Financial-Results/default.aspx"",""range"":{""length"":17,""start"":177},""type"":""link""}],""identifier"":""_anf-body-7"",""inlineTextStyles"":[{""range"":{""length"":195,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":195,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""And that onetime leprosy drug? It had been transformed into Revlimid, a best-selling cancer drug that, with annual sales of $8.2 billion, made up nearly two-thirds of Celgene’s net sales in 2017."",""type"":""text""},{""additions"":[{""URL"":""https://youtu.be/K4AqlkLfs5w"",""range"":{""length"":34,""start"":174},""type"":""link""}],""identifier"":""_anf-body-8"",""inlineTextStyles"":[{""range"":{""length"":324,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":324,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Mr. Hugin, a Republican mounting a surprisingly strong challenge to Senator Robert Menendez in New Jersey, has made his career at Celgene a cornerstone of his campaign, with television advertisements boasting that he “chose a life of service” in the Marines and “leading a health care company that develops cancer medicine.”"",""type"":""text""},{""identifier"":""_anf-body-9"",""inlineTextStyles"":[{""range"":{""length"":299,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":299,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""In deeply blue New Jersey, few expected a real contest for Mr. Menendez’s seat. Yet anger stemming from Mr. Menendez’s federal corruption trial last year — a trial that Mr. Hugin’s campaign reminds television viewers in New Jersey about on a regular basis — has dampened his popularity among voters."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-1"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""additions"":[{""URL"":""https://twitter.com/realDonaldTrump/status/1016368503723577344"",""range"":{""length"":21,""start"":213},""type"":""link""},{""URL"":""https://news.gallup.com/poll/12748/business-industry-sector-ratings.aspx"",""range"":{""length"":16,""start"":238},""type"":""link""}],""identifier"":""_anf-body-10"",""inlineTextStyles"":[{""range"":{""length"":413,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":413,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""But Mr. Hugin’s professional career could also prove to be a liability — he is the sole pharmaceutical executive running for statewide office in 2018. Anger over high drug prices has risen and President Trump has vilified the industry. A 2017 Gallup poll found that just 33 percent of the country had a favorable view of the drug industry, the second-lowest of any sector. (The lowest was the federal government.)"",""type"":""text""},{""identifier"":""_anf-body-11"",""inlineTextStyles"":[{""range"":{""length"":394,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":394,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""An examination of Celgene’s aggressive promotion of Revlimid and its predecessor, Thalomid, while Mr. Hugin was a top executive at the company, including its chief executive for six years, reveals many of the controversial financial and legal tactics that have tarnished the industry’s reputation, from marketing drugs for unapproved uses to raising prices and fighting off generic competitors."",""type"":""text""},{""additions"":[{""URL"":""https://www.nytimes.com/2017/07/25/health/celgene-to-pay-280-million-to-settle-fraud-suit-over-cancer-drugs.html?partner=applenews&ad-keywords=APPLEMOBILE&region=written_through&asset_id=100000006090758"",""range"":{""length"":53,""start"":19},""type"":""link""}],""identifier"":""_anf-body-12"",""inlineTextStyles"":[{""range"":{""length"":362,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":362,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Last year, Celgene paid $280 million to settle a whistle-blower lawsuit claiming it had inappropriately promoted Revlimid and Thalomid to treat a range of cancers beyond what the Food and Drug Administration had approved. Several generic drug companies have sued the company claiming that Celgene denied them access to drug samples needed to make cheaper copies."",""type"":""text""},{""additions"":[{""URL"":""https://www.youtube.com/watch?v=RIfs6hthwGo"",""range"":{""length"":71,""start"":138},""type"":""link""}],""identifier"":""_anf-body-13"",""inlineTextStyles"":[{""range"":{""length"":334,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":334,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Mr. Hugin has also been targeted by a super PAC run by a cancer patient taking Revlimid that launched a $1.5 million advertising campaign criticizing steep price hikes of cancer drugs during Mr. Hugin’s tenure at Celgene. And the Menendez campaign has attacked him around drug prices, personal profits and the $280 million settlement."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-2"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""identifier"":""_anf-body-14"",""inlineTextStyles"":[{""range"":{""length"":38,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":38,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Mr. Hugin has dismissed the criticism."",""type"":""text""},{""identifier"":""_anf-body-15"",""inlineTextStyles"":[{""range"":{""length"":317,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":317,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“New Jersey voters are a lot smarter than my opponent gives them credit for,” Mr. Hugin said in a statement. “They understand that it costs billions of dollars in research and development, and years of hard work by hundreds of researchers and scientists, to develop medicines that successfully treat and cure cancer.”"",""type"":""text""},{""identifier"":""_anf-body-16"",""inlineTextStyles"":[{""range"":{""length"":237,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":237,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Some experts are not so sure. Patrick Murray, director of the Monmouth University Poll, noted that despite the fact that many large drug companies are based in New Jersey, public opinion in the state likely mirrors the national attitude."",""type"":""text""},{""identifier"":""_anf-body-17"",""inlineTextStyles"":[{""range"":{""length"":228,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":228,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“Concern about being able to afford health care is the top issue mentioned by voters in our polling for this year’s midterm, in large part because of rising drug costs,” Mr. Murray said. “This provides an opening for Menendez.’’"",""type"":""text""},{""components"":[{""caption"":""Mr. Menendez has attacked Mr. Hugin’s record as a pharmaceutical executive, accusing him of profiting from major price increases for cancer drugs. Bryan Anselm for The New York Times"",""captionComponent"":{""text"":""Mr. Menendez has attacked Mr. Hugin’s record as a pharmaceutical executive, accusing him of profiting from major price increases for cancer drugs. Bryan Anselm for The New York Times""},""identifier"":""100000006098032_5ba8b80411dfc"",""imageIdentifier"":""5e5526aaedbd7af8c8bade0a70b11da0"",""layout"":""fullbleed-image"",""role"":""photo"",""type"":""scalable_image""},{""identifier"":""_anf-caption-2"",""inlineTextStyles"":[{""range"":{""length"":36,""start"":146},""textStyle"":""photo-credit""}],""layout"":""default-caption"",""role"":""caption"",""text"":""Mr. Menendez has attacked Mr. Hugin’s record as a pharmaceutical executive, accusing him of profiting from major price increases for cancer drugs. Bryan Anselm for The New York Times "",""type"":""text""}],""identifier"":""_anf-container-1"",""layout"":""image-container"",""role"":""container"",""type"":""container""},{""identifier"":""_anf-body-18"",""inlineTextStyles"":[{""range"":{""length"":277,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":277,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Any broad swing in voter opinion could prove difficult for Mr. Hugin to overcome. Even with Mr. Menendez’s vulnerabilities, New Jersey has nearly 900,000 more registered Democrats than Republicans, and a number of competitive House races that have attracted national attention."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-3"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""identifier"":""_anf-heading4-1"",""layout"":""heading4"",""role"":""heading4"",""text"":""A once-notorious drug becomes a lucrative cancer weapon"",""type"":""text""},{""identifier"":""_anf-body-19"",""inlineTextStyles"":[{""range"":{""length"":235,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":235,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""When Mr. Hugin arrived at Celgene in June 1999, the company was struggling to figure out how to turn a profit on its only marketed drug, Thalomid, which had been approved a year earlier to treat a rare skin condition caused by leprosy."",""type"":""text""},{""identifier"":""_anf-body-20"",""inlineTextStyles"":[{""range"":{""length"":158,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":158,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Thalomid was Celgene’s brand name for thalidomide, an old drug that became notorious in the 1960s after it was traced to thousands of birth defects worldwide."",""type"":""text""},{""additions"":[{""URL"":""https://www.nytimes.com/1997/11/28/us/thalidomide-once-banned-is-in-demand.html?partner=applenews&ad-keywords=APPLEMOBILE&region=written_through&asset_id=100000006090758"",""range"":{""length"":61,""start"":55},""type"":""link""},{""URL"":""https://www.nytimes.com/1997/11/28/us/thalidomide-once-banned-is-in-demand.html?partner=applenews&ad-keywords=APPLEMOBILE&region=written_through&asset_id=100000006090758"",""range"":{""length"":11,""start"":116},""type"":""link""}],""identifier"":""_anf-body-21"",""inlineTextStyles"":[{""range"":{""length"":358,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":358,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Thalidomide had fallen into obscurity until the 1990s, when new research suggested it could be useful for a variety of diseases. AIDS activists were smuggling it into the country and selling it through black-market “buyers clubs” after research suggested the drug could be used for AIDS wasting syndrome and Kaposi sarcoma, two serious complications of AIDS."",""type"":""text""},{""identifier"":""_anf-body-22"",""inlineTextStyles"":[{""range"":{""length"":187,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":187,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""F.D.A. officials, alarmed that a notorious drug was being sold illicitly, took the unusual step of seeking out drug companies that might be willing to bring thalidomide to market legally."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-4"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""identifier"":""_anf-body-23"",""inlineTextStyles"":[{""range"":{""length"":109,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":109,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Celgene, then a little-known New Jersey company that had never sold a drug, ultimately took up the challenge."",""type"":""text""},{""additions"":[{""URL"":""https://www.hrsa.gov/hansens-disease/clinical-center.html"",""range"":{""length"":38,""start"":113},""type"":""link""}],""identifier"":""_anf-body-24"",""inlineTextStyles"":[{""range"":{""length"":251,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":251,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""In 1998, Celgene’s application was approved to treat erythema nodosum leprosum, a complication of leprosy, which is extremely rare in the United States. In 2007, Celgene said that just 100 prescriptions a year were written to treat the skin condition."",""type"":""text""},{""identifier"":""_anf-body-25"",""inlineTextStyles"":[{""range"":{""length"":256,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":256,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""But leprosy was hardly the point: The F.D.A.’s main goal was to keep the drug from harming infants, and it did so by requiring that Celgene set up a first-of-its-kind distribution system that would limit prescriptions to preapproved doctors and pharmacies."",""type"":""text""},{""identifier"":""_anf-body-26"",""inlineTextStyles"":[{""range"":{""length"":320,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":320,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Celgene, meanwhile, had ambitious plans. Thalidomide was generating intense excitement in the medical world, and from the start the company made clear it would not stop at treating leprosy. Celgene needed a finance executive to pitch its story to Wall Street. It settled on Mr. Hugin, a managing director at J.P. Morgan."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-5"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""additions"":[{""URL"":""https://bobhugin.com/about/"",""range"":{""length"":19,""start"":176},""type"":""link""},{""URL"":""https://www.sec.gov/Archives/edgar/data/816284/000100515000000449/0001005150-00-000449.txt"",""range"":{""length"":21,""start"":223},""type"":""link""}],""identifier"":""_anf-body-27"",""inlineTextStyles"":[{""range"":{""length"":461,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":461,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""At the time, the company’s financial situation was perilous. Celgene had 200 employees and was getting by on less than six weeks of cash when Mr. Hugin joined, according to his campaign biography. A year later, the company warned investors that, “during the next several years, we will be very dependent on the commercial success of Thalomid,” while also acknowledging that the market for the only disease for which the drug was approved was “relatively small.”"",""type"":""text""},{""identifier"":""_anf-heading4-2"",""layout"":""heading4"",""role"":""heading4"",""text"":""Seeking a windfall by exploiting drug safety rules"",""type"":""text""},{""identifier"":""_anf-body-28"",""inlineTextStyles"":[{""range"":{""length"":387,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":387,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Drug companies are forbidden from promoting a drug for any unapproved uses, but doctors have broad discretion to prescribe a product for a range of diseases. Celgene appeared to exploit this distinction almost as soon as Thalomid arrived on the market, according to company filings, public statements and internal documents included in the whistle-blower lawsuit Celgene settled in 2017."",""type"":""text""},{""identifier"":""_anf-body-29"",""inlineTextStyles"":[{""range"":{""length"":257,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":257,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The company hired a team of 60 sales representatives, many of whom had experience in oncology, according to financial filings, and just months after Thalomid arrived on the market, Celgene announced that it would pursue F.D.A. approval for multiple myeloma."",""type"":""text""},{""components"":[{""caption"":""Mr. Hugin has defended his role as a top executive at Celgene, saying that he helped lead a company that developed life-saving medicines.  Rick Loomis for The New York Times"",""captionComponent"":{""text"":""Mr. Hugin has defended his role as a top executive at Celgene, saying that he helped lead a company that developed life-saving medicines.  Rick Loomis for The New York Times""},""identifier"":""100000006098033_5ba8b804122ca"",""imageIdentifier"":""c275d4ffa64cd5696e6a2645c43f84a0"",""layout"":""fullbleed-image"",""role"":""photo"",""type"":""scalable_image""},{""identifier"":""_anf-caption-3"",""inlineTextStyles"":[{""range"":{""length"":35,""start"":138},""textStyle"":""photo-credit""}],""layout"":""default-caption"",""role"":""caption"",""text"":""Mr. Hugin has defended his role as a top executive at Celgene, saying that he helped lead a company that developed life-saving medicines.  Rick Loomis for The New York Times "",""type"":""text""}],""identifier"":""_anf-container-2"",""layout"":""image-container"",""role"":""container"",""type"":""container""},{""additions"":[{""URL"":""http://wayback.archive-it.org/7993/20170112071439/http://www.fda.gov/downloads/Drugs/GuidanceComplianceRegulatoryInformation/EnforcementActivitiesbyFDA/WarningLettersandNoticeofViolationLetterstoPharmaceuticalCompanies/UCM167840.pdf"",""range"":{""length"":47,""start"":100},""type"":""link""},{""URL"":""https://www.washingtonpost.com/archive/politics/2000/05/05/fda-moves-to-curb-ads-for-thalidomide/dd6ce44a-711b-424c-a9a0-ae67168f170c/?utm_term=.f0af824af352"",""range"":{""length"":16,""start"":246},""type"":""link""}],""identifier"":""_anf-body-30"",""inlineTextStyles"":[{""range"":{""length"":319,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":319,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The F.D.A. reprimanded Celgene multiple times in those early years, telling the company that it had not adequately warned about thalidomide’s risks in its announcement about multiple myeloma, and calling a meeting in December 1998 to warn of its “strong concern” that Celgene was marketing Thalomid for unapproved uses."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-6"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""additions"":[{""URL"":""http://wayback.archive-it.org/7993/20170112070734/http://www.fda.gov/downloads/Drugs/GuidanceComplianceRegulatoryInformation/EnforcementActivitiesbyFDA/WarningLettersandNoticeofViolationLetterstoPharmaceuticalCompanies/UCM165843.pdf"",""range"":{""length"":41,""start"":9},""type"":""link""}],""identifier"":""_anf-body-31"",""inlineTextStyles"":[{""range"":{""length"":226,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":226,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""In 2000, the agency issued a formal warning letter, saying that it had evidence the company was improperly marketing Thalomid for a variety of cancers as well as to promote a feeling of “general well-being” in cancer patients."",""type"":""text""},{""identifier"":""_anf-body-32"",""inlineTextStyles"":[{""range"":{""length"":175,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":175,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“Perhaps more than for any other available drug, the need to provide and distribute thalidomide responsibly is essential to the public health,” the agency wrote in the letter."",""type"":""text""},{""additions"":[{""URL"":""https://www.sec.gov/Archives/edgar/data/816284/000100515001000229/0001005150-01-000229.txt"",""range"":{""length"":20,""start"":286},""type"":""link""}],""identifier"":""_anf-body-33"",""inlineTextStyles"":[{""range"":{""length"":517,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":517,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Over the next few years, however, Mr. Hugin and other top executives repeatedly referred to Thalomid — and later Revlimid — as the key to Celgene’s financial future, even though it would not get formal approval to market the drugs to treat certain cancers until 2005 and 2006. In 2001, the company reported that 92 percent of Thalomid’s prescriptions were being written to treat cancer, and at an investor conference in 2004, Mr. Hugin said, “Thalomid is important, because it is the financial engine that drives us.”"",""type"":""text""},{""identifier"":""_anf-body-34"",""inlineTextStyles"":[{""range"":{""length"":171,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":171,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Celgene has denied that it engaged in illegal marketing, saying it settled the lawsuit in 2017 to avoid the uncertainty, distraction and expense of protracted litigation.”"",""type"":""text""},{""identifier"":""_anf-body-35"",""inlineTextStyles"":[{""range"":{""length"":186,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":186,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The incredible demand for Thalomid, and later Revlimid, as promising treatments for multiple myeloma, a disease that affects more than 30,000 patients a year, was a windfall for Celgene."",""type"":""text""},{""additions"":[{""URL"":""https://media.celgene.com/content/uploads/revlimid-long-form.pdf"",""range"":{""length"":17,""start"":200},""type"":""link""}],""identifier"":""_anf-body-36"",""inlineTextStyles"":[{""range"":{""length"":218,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":218,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Introduced to the market in 2006, a month’s supply of Revlimid, a closely related derivative of thalidomide, initially cost about $6,000. By 2017, Celegene had raised the price of a month’s supply to more than $16,000."",""type"":""text""},{""identifier"":""_anf-heading4-3"",""layout"":""heading4"",""role"":""heading4"",""text"":""A brutal battle to fend off generic drug makers"",""type"":""text""},{""identifier"":""_anf-body-37"",""inlineTextStyles"":[{""range"":{""length"":328,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":328,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The company was able to aggressively raise prices in part as a result of its legal monopoly. Under federal regulations, a pharmaceutical company can exclusively market a drug for up to seven years. Once that period expires, along with any patents, the market opens to generic competition and prices typically fall precipitously."",""type"":""text""},{""identifier"":""_anf-body-38"",""inlineTextStyles"":[{""range"":{""length"":113,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":113,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""To protect the profits from Revlimid and Thalomid, Celgene mounted an aggressive campaign to extend its monopoly."",""type"":""text""},{""identifier"":""_anf-body-39"",""inlineTextStyles"":[{""range"":{""length"":269,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":269,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“They’ve gone to pretty great lengths to protect that drug and to build as many walls around it as they can,” said Michael Brzica, the vice president for federal government affairs at the Association for Accessible Medicines, the generic drug industry’s lobbying group."",""type"":""text""},{""identifier"":""_anf-body-40"",""inlineTextStyles"":[{""range"":{""length"":145,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":145,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Celgene has been repeatedly accused of restricting access to samples of its drugs, which generic companies need to test their competing products."",""type"":""text""},{""identifier"":""_anf-body-41"",""inlineTextStyles"":[{""range"":{""length"":258,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":258,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""In restricting access to Revlimid and Thalomid, Celgene relied on a federal requirement that the distribution of those drugs be tightly regulated because of their dangerous side effects under a program known as Risk Evaluation and Mitigation System, or REMS."",""type"":""text""},{""components"":[{""caption"":""Elaine Kodish, who lives in Los Angeles, said she pays $785 a month for Revlimid, a drug produced by Celgene that helps treat her multiple myeloma. Emily Berl for The New York Times"",""captionComponent"":{""text"":""Elaine Kodish, who lives in Los Angeles, said she pays $785 a month for Revlimid, a drug produced by Celgene that helps treat her multiple myeloma. Emily Berl for The New York Times""},""identifier"":""100000006098034_5ba8b8041267d"",""imageIdentifier"":""eee32d2f6bc7b8bdb7a6a5d6cab07a43"",""layout"":""fullbleed-image"",""role"":""photo"",""type"":""scalable_image""},{""identifier"":""_anf-caption-4"",""inlineTextStyles"":[{""range"":{""length"":34,""start"":147},""textStyle"":""photo-credit""}],""layout"":""default-caption"",""role"":""caption"",""text"":""Elaine Kodish, who lives in Los Angeles, said she pays $785 a month for Revlimid, a drug produced by Celgene that helps treat her multiple myeloma. Emily Berl for The New York Times "",""type"":""text""}],""identifier"":""_anf-container-3"",""layout"":""image-container"",""role"":""container"",""type"":""container""},{""identifier"":""_anf-body-42"",""inlineTextStyles"":[{""range"":{""length"":111,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":111,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Congress expressly prohibited drug companies from using these programs to block or delay generic drug approval."",""type"":""text""},{""identifier"":""_anf-body-43"",""inlineTextStyles"":[{""range"":{""length"":88,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":88,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Yet, according to three lawsuits filed by generic drug companies, Celgene did just that."",""type"":""text""},{""identifier"":""_anf-body-44"",""inlineTextStyles"":[{""range"":{""length"":315,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":315,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""It began with a simple refusal to distribute samples of their drugs, citing REMS and demanding that generic drug companies provide written confirmation from the F.D.A. permitting Celgene to provide drug samples. In the case of Mylan, one of the generic drug companies that sued Celgene, this process took 19 months."",""type"":""text""},{""identifier"":""_anf-body-45"",""inlineTextStyles"":[{""range"":{""length"":251,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":251,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""After the generic companies sent approval from the F.D.A., Celgene would request more information before agreeing to distribute the drug. But according to court documents in the Mylan case, these requests were laborious, irrelevant and time consuming."",""type"":""text""},{""identifier"":""_anf-body-46"",""inlineTextStyles"":[{""range"":{""length"":244,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":244,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The voluminous requests from Celgene became a rinse-and-repeat cycle for many of the generic drug companies, according to court documents. Two companies, Lannett and Barr Laboratories, settled with Celgene. Mylan’s suit will soon head to trial."",""type"":""text""},{""identifier"":""_anf-body-47"",""inlineTextStyles"":[{""range"":{""length"":208,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":208,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“This is really concerning conduct and Celgene is by far the worst offender,” Michael Carrier, a professor at Rutgers Law School who studies patent law, said of Celgene’s tactics to delay generic development."",""type"":""text""},{""identifier"":""_anf-heading4-4"",""layout"":""heading4"",""role"":""heading4"",""text"":"" Campaign attack ads over soaring drug prices"",""type"":""text""},{""additions"":[{""URL"":""https://poll.qu.edu/new-jersey/release-detail?ReleaseID=2563"",""range"":{""length"":27,""start"":160},""type"":""link""}],""identifier"":""_anf-body-48"",""inlineTextStyles"":[{""range"":{""length"":295,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":295,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""As the Senate race careens toward the final weeks, the Menendez campaign has seen some troubling signs in recent polling. Despite maintaining a six-point lead, a Quinnipiac poll in August found that 49 percent of New Jersey voters believed that Mr. Menendez “was involved in serious wrongdoing.”"",""type"":""text""},{""additions"":[{""URL"":""https://www.youtube.com/watch?v=XE8lizocN4s&feature=youtu.be"",""range"":{""length"":21,""start"":150},""type"":""link""},{""URL"":""https://www.youtube.com/watch?v=RIfs6hthwGo"",""range"":{""length"":18,""start"":172},""type"":""link""}],""identifier"":""_anf-body-49"",""inlineTextStyles"":[{""range"":{""length"":234,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":234,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Since Labor Day, Mr. Menendez’s campaign, perhaps in a sign of vulnerability, has aggressively ramped up its advertising campaign, with a majority of the political attacks accusing Mr. Hugin of raising drug prices to maximize profits."",""type"":""text""},{""identifier"":""_anf-body-50"",""inlineTextStyles"":[{""range"":{""length"":332,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":332,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""In 2017, after Mr. Hugin had stepped down as chief executive and become executive chairman, the company suffered two major setbacks in its development pipeline: A drug it had hoped would be a breakthrough in treating Crohn’s disease failed to outperform a control group and Otezla, a psoriasis drug, badly missed sales expectations."",""type"":""text""},{""additions"":[{""URL"":""https://ir.celgene.com/press-releases/press-release-details/2017/Celgene-Provides-Update-on-GED-0301-mongersen-Inflammatory-Bowel-Disease-Program/default.aspx"",""range"":{""length"":39,""start"":21},""type"":""link""},{""URL"":""https://ir.celgene.com/press-releases/press-release-details/2017/Celgene-Provides-Update-on-GED-0301-mongersen-Inflammatory-Bowel-Disease-Program/default.aspx"",""range"":{""length"":20,""start"":60},""type"":""link""},{""URL"":""https://www.streetinsider.com/Analyst+Comments/Celgene+%28CELG%29%3A+Price+Increases+Add+8c+In+17+-+Suntrust/13411298.html"",""range"":{""length"":64,""start"":161},""type"":""link""}],""identifier"":""_anf-body-51"",""inlineTextStyles"":[{""range"":{""length"":364,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":364,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""On the same day that Celgene announced it was scrapping the Crohn’s disease drug, it increased the price of Revlimid from $17,014 a bottle to $18,546, according to a report by Yatin Suneja, an analyst who follows the industry. It was the third price increase of Revlimid in 2017, representing a nearly 20 percent price increase for the drug from the previous year."",""type"":""text""},{""additions"":[{""URL"":""https://d18rn0p25nwr6d.cloudfront.net/CIK-0000816284/ddd3eeae-ca0e-48c5-8132-54186f548874.pdf"",""range"":{""length"":20,""start"":0},""type"":""link""}],""identifier"":""_anf-body-52"",""inlineTextStyles"":[{""range"":{""length"":156,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":156,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""In financial filings, Celgene said these price hikes were a main reason the drug’s net sales increased in 2017 by about $1.2 billion over the previous year."",""type"":""text""},{""identifier"":""_anf-body-53"",""inlineTextStyles"":[{""range"":{""length"":314,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":314,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Ronny Gal, a securities analyst at Sanford C. Bernstein & Company who follows the pharmaceutical industry, said drug companies have generally been “tone deaf” when it comes to raising the price of their monopoly products. “Celgene clearly has been there, but has not been any worse than the main players,” he said."",""type"":""text""},{""identifier"":""_anf-body-54"",""inlineTextStyles"":[{""range"":{""length"":412,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":412,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The tactics can carry a human cost. Last year, Elaine Kodish, a 76-year-old retiree from Los Angeles, briefly stopped taking Revlimid after her Medicare drug plan required she pay more than $450 a month for the drug that keeps her multiple myeloma in check. Ms. Kodish said she bought stock in Celgene when she started taking Revlimid in 2016, as a way of supporting a company she believed was keeping her alive."",""type"":""text""},{""identifier"":""_anf-body-55"",""inlineTextStyles"":[{""range"":{""length"":364,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":364,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""But after a series of price increases have exposed her to ballooning out-of-pocket costs — she has since returned to taking Revlimid, which now costs her about $785 per month — she said she recently sold her stake. “I’m grateful to the drug companies, don’t get me wrong,” Ms. Kodish said. “However, they can’t be compensated on the backs of people who are dying.”"",""type"":""text""},{""components"":[{""identifier"":""_anf-heading6-1"",""layout"":""related-coverage-heading"",""role"":""heading6"",""text"":""RELATED 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IMAGES-008-HOUSE_OVERSIGHT_026105.txt,"constitute inside information, and is intended only for

the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
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Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
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communication in error, please notify us immediately by
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HOUSE_OVERSIGHT_026105
"
IMAGES-010-HOUSE_OVERSIGHT_028492.txt,"HOUSE_OVERSIGHT_028492
"
TEXT-001-HOUSE_OVERSIGHT_027720.txt,"Source Entr: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2019-05-231111 
on 2019-05-23 at 06.21.07.ichat 
Service: iMessage 
Start Time: 05/23/19 03:21:07 AM (580299667) 
End Time: 05/23/19 06:28:49 AM (580310929) 
Last Message ID: 29518 
Chat Room: 
Participants: jee, 
Presentity IDs: e:jeeitunes@gmail.com, 
Messages - 
Sender: 
Time: 05/23/19 03:21:07 AM (580299667) 
Flags: 1126401 
Is Read: Yes 
Is Invitation: No 
GUID: 1FB1D854-A563-4238-B200-EA41FEEABCCF 
Message: https://www.thedailybeast.com/nancy-pelosi-to-impatient-democrats-weve-got-
trump-on-the-ropes?ref=home 
Sender: e:jeeitunes@gmail.com 
Time: 05/23/19 04:15:48 AM (580302948) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: E439ADEF-F43F-4BFB-8B5D-52CEE26D1420 
Message: 60 days after they get the DB papers. oy I think you have positioned 
yourself perfectly. policy not individuals. . china not trump. . . sovereignty 
not sovereign 
Sender: e:jeeitunes@gmail.com 
Time: 05/23/19 04:17:14 AM (580303034) 
Flags: 1085445 
Is Read: No 
Is Invitation: No 
GUID: EAFA727B-5D16-4355-A8A9-C357A5646573 
Message: your brand with tweaking . tom friedman like allies, all good. less of 
deutshland more of homeland 
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HOUSE OVERSIGHT 027720 
GUID: D671E60B-B1F0-4370-BFB4-F53FB6AA296B 
Message: Yes yes yes 
HOUSE OVERSIGHT 027721 
"
IMAGES-010-HOUSE_OVERSIGHT_029954.txt,"23

Article 6.

Scientific American

How the Brain Understands Food and
Appetite [Excerpt]

David Linden

Editor's Note: The following is an excerpt from a chapter in the book
Compass of Pleasure: How Our Brains Make Fatty Foods, Orgasm,
Exercise, Marijuana, Generosity, Vodka, Learning, and Gambling
Feel So Good by David Linden. Copyright (c) 2001 by David Linden.

July 2, 2011 -- In studies where the food intake and energy
expenditure of subjects are carefully monitored over a period of
weeks to months (which tends to average out day-to-day fluctuations)
a remarkable balance between calories consumed and calories burned
was observed. When various mammals, from mice to monkeys, are
either overfed or starved for a few weeks, their weight soon returns to
normal levels when free access to food is resumed. Crucially, our
mammalian bodies seem to be able to regulate feeding based on the
amount of energy available in the food we consume, not just on the
volume of that food. One example of many: When groups of rats
were fed nutrient solutions of varying concentrations, they adjusted
the volume consumed to achieve a constant inflow of calories. It's a
lot like the thermostat in your house: When its thermometer registers
a drop in temperature, it sends a signal to the heater to warm the
house until the desired set point is reached.

These observations suggest that the brain must receive signals from
the body that indicate its weight and that the brain makes use of the
signals to modulate appetite and energy expenditure in order to

HOUSE_OVERSIGHT_029954
"
IMAGES-007-HOUSE_OVERSIGHT_024031.txt,"Sprout Capital Healthcare Technology Portfolios:
Since 1995, members of the New Leaf team made all of the healthcare technology investments in

the Sprout Funds while they were part of the investing team at the Sprout Group. The Sprout
Funds were venture capital funds that were diversified across several sectors including
information technology, communications, services, and healthcare technology. The healthcare
technology investments in the four Sprout Funds included $1.019 billion in total cost, which
was invested in new and follow-on investments in 69 companies from 1995 to 2013. The
healthcare technology investments in the first three of these funds are now fully realized, and
those in Sprout IX are nearly fully realized. To date, across these four funds, the New Leaf team
has generated $1.997 billion of realizations in the aggregate (63 realized investments), and there
is $68 million in unrealized value in six unrealized investments.

The net annual IRR performance on the healthcare technology portfolios in each of the Sprout
Funds would place them in the top quartile of all healthcare venture capital funds tracked by
Cambridge Associates in each of the vintage years for which they have established a
benchmark’. Additionally, over an 18 year period the net annual IRR on these portfolios
outperformed relevant public market indices when compared on a public market equivalent
basis (PME+)?°, The range of outperformance for each of these portfolios versus the S&P 500,
S&P Healthcare, NASDAQ Composite, and the Russell 3000 through March 31, 2014 is the
following:

Net IRR Outperformance vs. Public Indices (PME+ Methodology)
S&P S&P NASDAQ Russell
500 Healthcare Composite 3000
Sprout Capital IX, L.P. * +638 bps +776 bps +451 bps +565 bps
Sprout Capital VIII, L.P. * +587 bps +441 bps +725 bps +502 bps
Sprout Capital VII, L.P. * +568 bps +302 bps +554 bps +554 bps
Sprout Growth II, L.P. * +2,258 bps +2,064 bps +2,125 bps +2,215 bps

*Healthcare Technology Portfolios

'® Please refer to Section II: “Summary of Historical Investment Performance” and Section XHI: “Appendices” and the endnote C in
Appendix 4 regarding information provided by Cambridge Associates.

20 Please refer to Section III: “Summary of Historical Investment Performance” and Section XIII: “Appendices; Appendix 3” and the
endnotes thereto (regarding the PME+ methodology).

20

CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024031

"
IMAGES-012-HOUSE_OVERSIGHT_033125.txt,"From: J [jeevacation@gmail.com]

Sent: 10/3/2018 11:29:06 AM

To: Weingarten, Rei

Subject: Re:

how unfair yes, it was written by financial illiterates. . referencing "" todays dollars? with no back

up. IRS looked at all. .they ignored taxes paid along the way. . they didnt understand the rules.. Im nota
supporter but this is nothing but a hit job.

On Wed, Oct 3, 2018 at 7:21 AM Weingarten, Reid ess wrote:

Anything surprise you?

Sent from my BlackBerry 10 smartphone.

From: J

Sent: Tuesday, October 2, 2018 11:45 PM
To: Weingarten, Reid

Subject: Re:

Florida

On Tue, Oct 2, 2018 at 9:58 PM Weingarten, Reid (> wrote:

Reading the nytimes trump tax story...so wish | was with you right now...so where are you?

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Tuesday, September 25, 2018 11:42 AM
To: Weingarten, Reid

Subject:

where?

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may

HOUSE_OVERSIGHT_033125
"
IMAGES-011-HOUSE_OVERSIGHT_030694.txt,"and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this

HOUSE_OVERSIGHT_030694
"
IMAGES-003-HOUSE_OVERSIGHT_015252.txt,"something stuck to his chest. As he opened his shirt, | could see like a see-
through shampoo sachet on his chest with an orange-gold liquid inside it.

“And he said that what they’ d done was manipulate his body to
need this drug to survive, and if he doesn’ t get it, then he starts to die
what is apparently a very long and painful death. And this patch--which is
what they call them on the inside--with the drug has to be replaced every
seventy-two hours, and if he doesn’ t serve an agenda that sickens him,
then it’ s not replaced.

“He told me about a microchip now so small it can be inserted in a
vaccination program through a hypodermic needle. Even those who
thought the microchip was coming along as a tagging device have not
realized that it’ s not just about keeping a tag on where people are. It’ s
not actually the signals going from the chip to the computer we should be
concerned about, but the signals coming the other way fo the chip,
because the technology exists, outside the public arena and increasingly in
it, which can manipulate human emotion and thought processes externally
once one of these guys is inside. If people say no to one thing, say no to
the microchip.”

(In December 2001, Reuters would report that a chip the size of a

grain of rice which can be injected into your body and give detailed

HOUSE_OVERSIGHT_015252
"
TEXT-001-HOUSE_OVERSIGHT_024229.txt,"﻿	It’s an absurdly vast house, among the largest in Manhattan, but the dining room is windowless, creating a hermetic or stop-time sense, broken only by the household staff ferrying in time-of-day-appropriate foods and beverages. 
     The real world seems terribly far away, but with paparazzi often posted near by, it’s dangerously close too. Once I arrived for a visit and found several police cars blocking the street and thought the worst—they’d come for him again. But it was a security detail for a controversial head of state who had come for tea.
     We met several years before he became arguably the world’s most notorious sex offender. In 2002, his plane, a meticulously appointed 737, ferried a group of people to the TED conference in Monterey. He was the mysterious and peculiarly gracious host arriving after everyone had boarded: tanned, relaxed, attentive, soliciting every guest’s story and views, and accompanied by three young women not his daughters, witty, poised, helpful, and beautiful—out of a men’s magazine fantasy of the luxe life. 
     One more thing about this trip suggesting something of his unique view of the public world and what you got to see when you are near him. Google founders, Larry Page and Sergey Brin, with their company rising into the stratosphere, came out to see his plane on the Monterey tarmac and, with a few other Googlers, literally ran whooping from one end of the plane to the other. Then, sitting in the plane’s plush living room, they described, in what I could not be sure was a put-on or entrepreneurial brainstorm, a brand extension in which they would market a line of Google bras with the Os as convenient cups. In fact, the name Google, they said, was invented out of the belief that men would focus on a word with two Os in it.
     Since that trip, and through his travails, I have often been invited to his house to participate in the conversations that take place there. 
     In sweatshirt, draw-string pants, palm beach slippers, and half glasses, Jeffrey Epstein—that Epstein, most recently embroiled in charges involved under age girls and Alan Dershowitz and Prince Andrew—spends most of his day at his dining room table in the in front of a laptop and beside a row of reading glasses (there are a lot of them in case, apparently, he misplaces a pair, but being quite meticulous he never does) conducting what must surely be the world’s most extraordinary colloquial. 
     These meetings, and this lifestyle, have somehow stayed private or secret—or apart—not out of any formal or stated restrictions, but because, in some sense, it would be very hard to explain just what you’re doing there with a brazen sex offender in a guffaw-inducing home flaunting all moderation. 
     And yet, defying disgrace, and tolerating his tone deafness—or mocking attitude toward the zeitgeist—so many come. Gladly. Willingly. Feeling that his invitation is quite an extraordinary privilege. 
     
     Among his frequent guests is Bill Gates, for whom Epstein has become a key advisor, proposing a way to leverage the resources of the Bill and Melinda Gates Foundation to accommodate many other fortunes, so that, Epstein explains, “you might join 50 or 60 billionaires on one giving project.” 
     As part of a Gates-encouraged effort to get “out in front” of the notice that might be expected to greet the Gates association with him, Epstein agreed to these on-the-record conversations with me. 
     His subject, on a morning in late fall, sitting at the dining room table—its faux-baronial quality disturbed by an ever-present white board—is “hyper wealth.” His subject is always wealth—how capital should react to the given global political, economic, and cultural moment. 
     His stock in trade is not precisely the making of money, but the issues that arise when money, at a heretofore unimaginable rate, makes itself, altering many basic economic, social, and personal calculations. He recounts a dinner he had two nights before. The scene is, like much of what he does, a conspiracy theorist’s fantasy—the six men at this dinner, all technology entrepreneurs, representing, together, several hundred billion dollars and now trying to figure out how to use it to shape the world to their liking. 
     “In the past, only governments had this kind of money, money of a reality altering scale,” says Epstein in a chipper and smoothed-out Brooklynese. “In fact, it used to be that the rich, reaching a certain point of philanthropy, merely hoped to help make the world a better place, now they want to change the world. Rockefeller and Carnegie were, as examples of social-engineering philanthropy, unique. They alone had such resources and will. Now you have legions of people who have to give away vastly larger fortunes than Rockefeller or Carnegie had at their disposal, or might even have imagined. 
     “Except that it’s actually hard to give away this kind of wealth, without unintended consequences that can cause more problems than you’re solving.” 
     Epstein’s long-time business thesis is that the rich know very little about money. They may know about their own businesses, but the great sums that are the result are ultimately an afterthought and demand an entirely different sort of intellectual discipline. The Forbes 400, says Epstein, not immune to an amount of wonder, increased their wealth by $500 billion last year, meaning, in effect, that on average every Forbes-list billionaire makes more than another billion every year. And, points out the 62-year-old Epstein, they will almost all be dead in 40 years, most well before that, meaning $4.2 trillion, compounding everyday, will have to be given away. “So, to understand the future, what you have to begin to do is follow the money, not in Watergate-like terms backwards, as in who has gotten it, but forwards to where it will go and who will get it.”
     Epstein can find himself echoing aspects of Thomas Piketty on the inequities of the accumulation of wealth (“the divide is between people with assets, which appreciate, and people without assets, who fail to advance—that is, of course, the miracle of compounded interest”), except for the fact that Epstein, knowing the rich, understands a point that Piketty doesn’t: “Nobody, nobody, wants to give it all to their children. Everybody now has the modern appreciation that one of the curses of great wealth is that it can make your kids weird and fucked up.”
     Epstein’s position in this private allotment of a decent fraction of the U.S. Gross Domestic Product is not as a philanthropist but as a sort of adviser or guru or brain—a rich whisperer—making him, in addition to rich himself, arguably among the most influential people you’ve only heard of for reasons that have nothing to do with his influence. 
     
     Epstein sometimes seems to have an out-of-body attitude toward his own fate and bad press—that’s something that occurs in a less interesting parallel world. Not long ago, when I met him for lunch in New York, he noted that he hadn’t been out to lunch in a restaurant in ten years. It was a not particularly pleasant experience for him and we were done in 30 minutes. 
     On the other hand, Epstein’s life sometimes seems part of a purposeful challenge: not just look at me, but do you even believe what you see? But, perhaps, he is just oblivious to what others are thinking: a willful and in a sense fatal tone deafness. 
     Press accounts recycle the mysterious billionaire mythology—a man of vast and unsourced riches living in a parallel universe of absolute entitlement—with brief glimpses of him stepping out of the house (the same photos endlessly republished), and the assumption of depravity inside.
     In fact, the life in the house, without wife or children or conventional domestic demeanor, rather conforms to the scripted fantasies: somewhere between Daddy Warbucks and Eyes Wide Shut. There is indeed a group of young women—in their twenties and thirties—who act as Epstein’s support staff and companions. Some have worked for him for many years, marrying, having children, and continuing as part of his business and household infrastructure. One woman, on an afternoon when I was there, had just returned from an around-the-world honeymoon that Epstein had arranged for her. Some are, or have been, his romantic interests. His present girlfriend, whom he met four years ago at a dinner party in New York, has just graduated dental school. One former girlfriend, Eva Andersson Dubin, a Swedish model and Miss Universe finalist whom Epstein has known for more than thirty years, became a doctor—Epstein sent her to medical school—and married hedge funder Glen Dubin. Together they finance the Dubin Breast Center at Mount Sinai Hospital. 
     Epstein will sometimes move a meeting in his dining room outside to the park—his idea of going out to lunch is a Sabrett’s hot dog—with the various girls in the house the accompanying entourage, as though something out of an 18th-century French court.
     But the Hefnerian prurience can also be quite businesslike: poised young women in a mansion on the Upper East Side with various office responsibilities are really not that different from any of the art galleries in the surrounding neighborhood. They mingle freely with his powerful guests, not so much as hostesses—or, in tabloid language, harem-like “sex slaves”—but as attentive students (which, of course, might be regarded as having its own fetish-like attraction). Epstein explicitly denies that there is an sexual quid pro quo. (“If you’re screwing someone you work with they can come in late—that’s what Jimmy Goldsmith used to say.”) Still, the constant attendance of so many comely young women, seems so outside of conventional living or staffing or social or romantic relationships that it is hard to describe in a straightforward or straight-faced way. And while it may be part of the appeal for the men who come to visit Epstein, it is as well a peculiarity they put up with in order to spend time with him. 
     The Epstein house/office is, by careful design, exclusive and clubby, part hang out, part secret society. Along with the fact that, even after his jail term, the rich and powerful have continued to so eagerly solicit him, it’s also notable in the fixed hierarchy of who comes to whose turf, that, when they want to see Epstein, they tend to come to him. He’s created a world and you enter it.
     His conversations are less meeting-like—focused and agenda-driven—then narrative. In effect: the outside world comes to Epstein’s and he eagerly solicits reports. It’s a real time newspaper, or the news you don’t read in a newspaper, market movements before they occur, the health and eccentricities of world leaders, high level government appointments soon to be announced. 
     It’s Sunday lunch—in his schedule from a week last fall—with Gates, Mort Zuckerman, the real estate billionaire and owner of the Daily News, and Peter Thiel, the PayPal co-founder and early Facebook investor. 
     That evening its Sheikh Hamad Bin Jassim, the foreign minister of Qatar. Hamad lives across the street in a similarly furnished house—he and Epstein have the same decorator. (Epstein, in his relaxed and amused manner, keeps prodding: “Why are you financing the bad guys? What do you get out of that?”) 
     Next morning, Epstein is joined for breakfast in the dining room by the lawyer Reid Weingarten, who’s represented, among other fat cats in trouble, Worldcom’s Bernie Ebbers and Goldman Sachs’s Lloyd Blankfein. Weingarten, hoarse with a cold, is still lamenting his failed defense of former Connecticut Governor John Rowland. After a blow-by-blow of the trial, they discuss the Qatarian’s visit—Epstein served chocolate made from pistachios grown on the Sheikh’s farm—and speculate about who actually controls ISIS, with Weingarten arguing that the Turks are not getting enough scrutiny. There is, in Epstein’s dining room, always an alternative version of world events—“perception versus reality,” says Epstein, “not to imply that one necessarily has greater weight than the other.” 
     “Why,” I ask Weingarten, when Epstein briefly steps out of the room, “do so many people keep coming back here, everything considered.” 
     “Why we camp out here? I guess because there’s no place like it.” 
     Epstein summons in the next person cooling his heels in the ante-room. It’s a young man named Brock Pierce, a former child actor and dotcom high flyer who now describes himself as the “the most active investor” in Bitcoin and the programmable currency space.
     After a bit, Epstein invites his next appointment to join them: Larry Summers, the former treasury secretary and President of Harvard, off Diet Coke, digs deep into the Sheikh Hamad chocolates, then focuses in on the Bitcoin investor.
     “Okay,” he says, after listening for a bit to Pierce and his update on the rapid Bitcoin price swings, “I have opportunities here. But an additional feature of my decision problem, roughly speaking, is that the worst that could happen to you is that you could lose all the money you put into it. Whereas, I could go—I mean I don’t look that great now—but I could go from being seen as a figure of some probity and some intelligence to being a figure of much less intelligence and much less probity…”
     “Well,” says Pierce in seeming dramatic understatement, “you are going to have some low quality characters playing early in the space…”
     That evening, in the Epstein dining room (he seems rarely to use the rest of the house’s 50,000 square feet), there is a small cocktail party, which includes the former Prime Minister of Australian, Kevin Rudd, and Thorbjørn Jagland, the head of the Nobel Peace Prize Committee, who offers an affable, but generally scathing, critique of U.S. diplomacy (and a brief defense of Obama’s Peace Prize award) and to whom Epstein offers a ride back to Europe on his jet. 
     The next morning, it’s Ehud Barack, the former Israeli Prime Minister, for breakfast. Barack is, over his omelet, able to defend both Obama and Putin. Then a high ranking official from the Obama White House, whose name I am asked not to use. There follows the former head of the UN Security Council, Hardeep Purie, and then head of the central bank of Kazakhstan, Kairat Kelimbetov. Then Nathan Myhrvold the former chief technology office at Microsoft. Then Martin Nowak, a Professor of Biology and Mathematics and Director of the Program for Evolutionary Dynamics at Harvard, the institute that Epstein has funded with $30 million. Part of Nowak’s research has to do with trying to “describe cancer mathematically.” (Epstein preempts Nowak’s explanation : “Think of cancer the same way as you think of a terrorist group. The NSA has been able to thwart a great number of terrorism acts by intercepting communication signals from one terrorist to another. That same dynamic, a form of signal intelligence, of finding a terrorist in Europe, can be used to intercept communication between cancer sells. Cancer cells merely communicate in protean code rather than electronic code. If you can decode what the signals are saying you can jam those signal between terrorist calls—essentially wipe out their cell phones. Likewise if you can decode biological signals you can jam them too, that’s the holy grail.”)
     Then Richard Axel, a Nobel prize winner in physiology. Then Ron Baron who has $26 billion under management in his Baron Fund. Then Josh Harris, the co-founder of Apollo Global Management ($164 billion under management) and owner of the New Jersey Devils and the Philadelphia 76ers. 
     
     The question is why, in the face of such disgrace, with the paparazzi so near, the high and might still come? 
     Perhaps simply that it’s intelligence of a high order. Not just market moving information, but Epstein and Summers trying to unravel the conundrum of zero interest rates, or Epstein and Noam Chomsky on memory and language, or Epstein TK…
     What goes on at Epstein’s house might seem just to confirm everyone’s worst fears about power and the powerful: it’s all insider stuff. But the conversations at Epstein’s are the conversations, I suspect, that rich men dream of, but in the real world, such a buttoned-down and agenda-driven place, are actually hard to have. 
     “That’s Jeffrey,” says Mort Zuckerman, (whose paper, the Daily News, is ever vitriolic in its coverage of Epstein), with a twinkle in his eye. 
     On Epstein’s part, there is the wink: In his Paris apartment, 10,000 square feet on the Avenue Foch, a neighborhood otherwise occupied by foreign potentates, there is a stuffed baby elephant in his living room—that is, the elephant in the room. (Epstein says too it’s a reminder that elephants have 23 copies of tumor suppressor genes and humans have only 1.)  The single book on his bedside table is Lolita (he is, beyond the joke, a great Nobokov fan).
     Epstein has a yet more structural explanation as to why, after prison and with continuing tabloid infamy, he can maintain his valued place. It comes back, not unexpectedly, to the nature or the needs of money: “At a certain level of finance, almost everyone is allied with an institutional interest. You are part of government, or you want to be in government, or you are connected to a bank or other portfolio, or you have key relationships with certain corporations or industries. Because of my situation, I have none of that. I have no institutional ties which makes me in some sense one of the few wholly independent sources of information and actual honest brokers. That’s the usefulness of disgrace.”
     
     In some sense, too, it is perhaps generational: Most everyone who is now of a certain age and ambition and status grew up in, and found they were temperamentally suited to, the era of wealth that started in the late 1970s. A meritocracy on steroids, or, as Vanity Fair would baldly dub it, the new establishment, an increasingly parallel world, a self-invented one, at further and further remove from the ordinary one. 
     Epstein often tells his middle class to riches tale: born in 1953 in Coney Island, father worked for the city’s Parks Department, mother a housewife.
     The captain of the math team at Lafayette High school in Bensonhurst, he went on to Cooper Union where the tuition is free. He dropped out after two years. Without a college degree, hence by a slight of hand, he got a job teaching math and physics at Dalton in 1974. (A few years ago, during a chance encounter with a former Dalton math department chairman, Margo Gumport, I asked her about Epstein. She said he was the most brilliant math teacher at Dalton in her 50-year career and that she had often wondered what had become of him.)
     Dalton fathers perhaps sensed in him a young man on the make. Punch Sulzberger, the publisher of the New York Times, and a Dalton father at the time, tried to recruit Epstein to come to the Times. (Epstein recounts a story of riding with Sulzberger in his wood paneled station wagon to the family’s country estate and Sulzberger talking to the chauffer on a phone from the backseat to the front.) Another Dalton father, asking “wouldn’t you rather be rich than be a teacher?” introduced him to Bear Stearn’s chief Ace Greenberg.
     Hence, Epstein, like many in the late ‘70s, arrived on Wall Street. 
     If on one side of Wall Street there were the salesmen (the Wolf of Wall Street model), on the other side there was a new sort of finance type able to embrace a level of acute abstraction. “In the past,” says Epstein, “investing was all about reputations and relationships. You invested in a company on the basis of who was running it. Did they have integrity? Were they married? Good family men? It was a ‘50s mentality. But in the mid ‘70s options started to be traded. In essence, the first formal derivatives. The movement of this instrument is not directly attached to the stock price. The world of investing began turning from relationships to math. In a sense I didn’t really make money as much as I tried to create it..”
     He soon became the protégée of Jimmy Cayne (also hired by Ace Greenberg on a whim—he met him in a bridge game), who would go on to run Bear and to lose his fortune in Bear’s 2006 collapse). Epstein’s leave-taking or ouster from Bear was the result of politics, envy, overreaching, or a securities violation, or…unclear. But, no matter, when he left in 1982 he took with him billionaire clients, including Marvin Davis, a real estate developer who owns Twentieth Century Fox, and Herb Seigel, a major media investor in the 1980s. At this point, Epstein was dating Morgan Fairchild, a television star in the new mega-rich-family soap operas, Dallas and Falcon Crest. 
     If the ‘80s were happening pell mell in New York, they were happening at double time and catch up speed in London. “I would head to Kennedy and, on the theory that most important events in one’s life are serendipitous, I wouldn’t decide where I was going until I got there.” Thirty-year-old Epstein was living a Lifestyle of the Rich and Famous (he befriended the show’s star, Robin Leach), at English shooting parties and country estates with Saturday night black tie dinners, where he was meeting the over-the-top families of Europe. 
	At the same time, he was developing a perception, or, at least a market differentiation: the hyper wealthy had different problems than the very wealthy. Dealing with a billion dollars was different from dealing with $100 million. “The traditional wealth service structure, an accountant, and investment advisor, a personal lawyer, and an idiot brother-in-law, became hopelessly outdated as amounts exponentially increased. You can’t spend a billion dollars, you can just reallocate it to a different investment class. And you can’t give away a billion dollars without a vast staff, in effect going into the business of giving away money, yet another business you are likely to know little about.”
	For a period, one part of his activities, he says, was recovering monies for countries looted by exiled dictators or military strongmen. Then, in his telling, he was representing a series of vastly wealthy people and families—not just doing their bidding or their investing, but helping them to navigate the ambitions of their wealth. If they had big dreams before, it’s nothing to what they can have now. 
     If early in his career he might have seemed like a sort of George Peppard (there’s a physical resemblance) in Breakfast at Tiffany’s, a charming hustler, later he’s George Peppard in Banacek, a smart and astute operator. At just about this point in the narrative, the incredulity about Epstein began to circulate in social circles. Epstein had acquired the major symbols of wealth but without position, public holdings, or obvious paper trails. His is a questionable substrata of wealth, without institutional credentials or bona fides. He’s a freelancer. That’s the rub: he doesn’t work for anyone. 
     Sure, Goldman Sachs partners and tech geniuses, they might have stratospheric wealth, but what to make of a Coney Island, Zelig-like no-namer? 
     In 1994, just at the moment when Prince Charles was on television acknowledging his love for Camilla Parker Bowles, Jeffrey Epstein was sitting with his arm around Princess Diana at a dinner at the Serpentine Galley in London (Diana wearing her “revenge” dress that evening). Graydon Carter, in his second year as editor of Vanity Fair, was also at the dinner. Epstein’s rise and Carter’s rise are not, with a little critical interpretation, that different. Both are a function of the age of new money, both are helped by strategic relationships with the exceptionally wealthy, both have made themselves up. To say that Epstein, in the company of the Princess, stuck in Carter’s craw would be an understatement. Epstein became one of the “what do you know about him” figures in Carter’s gossip trail—a story waiting to happen. Carter once advised me not to go to Epstein’s house or accept a ride in his car least I risk being blackmailed. (“For what?” I asked Carter. “You can’t even begin to imagine,” said Carter.) 
	He joined the board of Rockefeller University. He was suddenly on the Trilateral commission, that cabal of business people who fancy themselves, and who are fancied by conspiracy buffs, as running the world. He bought, from his client Limited Founder Les Wexner, the largest private house in Manhattan. (Rumors will continue for many years, that Wexner owns the house and Epstein is just squatting in it—an 18-year squat.) He bought an airplane. Then another. He expanded his holdings in New Mexico. He began a Xanadu-like refurbishment of his Caribbean Island. 
     He befriended Bill Clinton in his new after-office life—and that would prove to be quite the fatal pairing. 
	The post-Monica Clinton, now having pardoned the on-the-lam financier Marc Rich—at this point, before his own rehabilitation, Clinton really is the world’s ultimate sleaze ball—was suddenly being ferried around in the jet of…who exactly? The New York Post was the first to take formal media note of the Clinton-Epstein connection, hinting at a sex and money bromance. “I suppose travel with Clinton changed the arc of my life,” Epstein tells me. “There were, I knew, lots of obvious reasons not to do it, but having the ability to spend 100 hours with a former president just doesn’t happen to many people.”
     I met Epstein around this time, on the flight out to TED. Not long after this trip, Epstein’s assistant called to invite me for tea at his house in New York, where Epstein, with what seemed to me little understanding of the subject, began to ask me about media—the upside, downside, and nature of media coverage. (Epstein’s flirtation with the media would result in his backing an unsuccessful effort, of which I was a part, to buy New York Magazine in 2004.)
     New York magazine was then soliciting him for a profile, as was Vanity Fair, who had assigned the British tabloid journalist, Vicki Ward, to the job. Both profiles—New York’s by Landon Thomas—pivot on the Clinton connection and detail the same quandary, how a man without clear institutional bona fides nevertheless achieved such wealth and influence. Epstein, sensing that he might be exposing himself, called Carter and said he was having second thoughts about being a public figure.
	“Then you should have lived in a two bedroom apartment in Queens,” responded Carter.
 	And then the real troubles began. Epstein had a prodigious massage parlor outcall habit especially in Palm Beach with its many “Jack Shacks.” After Epstein’s round of publicity and widely touted association with Clinton, the stepmother of one of the massage parlor girls who went to Epstein’s house called the police. The police interviewed the girl—who was TK at the time, but whose website identified her as 18—and the girl supplied the names of other girls, some of whom were also younger than 18.
	In the end, the police tracked down 18 girls—nine of whom were under 18; the others were in their 20s and 30s (one woman was in her 60s)—a number of whom gave statements describing happy-ending massages. (Although the nature of the allegations will dramatically grow into threesomes and forced sexual encounters, nobody at this point alleged anything more than this.)  
     Epstein called in Dershowitz, who flew into Palm Beach to put the local authorities in their place—alienating Palm Beach officialdom—and, further amping up the profile of the case, also brought in Roy Black, the famous criminal attorney who defended William Kennedy Smith in his rape trial in Palm Beach. 
     The release by the Palm Beach authorities of the depositions by the 18 girls describing the incremental details of the sex acts, the timing of the charges coming just after Rush Limbaugh’s high profile Palm Beach drug bust, the Clinton connection and then with the sudden interest of the Bush FBI in the case, moved the case from solicitation to scandal, and a plea deal with a sentence of 18 months.
     He got out of jail in 2009, serving 13 months, and moved mostly seamlessly back into his life, to the shock-shock of tabloids whenever they are reminded of his existence (notably, when Epstein’s payment of Fergie’s debts slipped out, likely leaked by Fergie herself).
     Some things changed. While surprisingly few others dropped him, the Clinton’s did, an irony of the present tabloid interest in Epstein’s old address book with its many Clinton contacts. And his sex offender status has transformed him from libertine playboy to pedophile in tabloid parlance.
     While he has regularly entertained PR proposals aimed at his public rehabilitation, until Gates prodded him, and until this recent renewed tabloid fever, Epstein had concluded that he was perfectly satisfied living behind high walls and in his own exclusive club. Even the recent Dershowitz-Prince Andrew chapter seems like a parallel disturbance rather than something that is actually affecting him. “Bad press is not something actually bad,” he notes, trying to balance perception and reality.
     But true or not, the story has taken on a life of its own, with the US and British tabloid press continuing, so far unsuccessfully, to search for a smoking gun connecting Clinton to underage girls, which could have—many obviously hope—the effect of derailing the Hillary Clinton presidential campaign. 
 
     It is a curious attribute of his character that, other than perhaps being more circumspect about what legal advice to follow, Epstein would have done little differently. (When I suggested recently to Epstein that one obvious way to blunt the animus bearing down on him would be to get married, he said he’d rather go back to jail.) His life, living it as he wants, seems to him to be an extraordinary accomplishment. Being on the wrong side of morality, custom, politics, feminists, the media, that’s just a bit of bad luck.
     And it is perhaps this attitude of his that irks his critics the most. Although he has spent more than a year in jail and paid out what may be as much as $20 million, he yet seems somehow to have gotten away with it—that worst sin of all. He is the unrepentant catchall of up-to-the-minute badness: the financier whose wealth is a product of Wall Street math rather than work; a rich middle-age white man who not only parades his wealth and entitlement, but has a Peter Pan complex to boot; an insistent playboy (excuse me, pedophile) in a correct and prudish world—someone who somehow didn’t get the memo about vast changes in mores and culture.  
     But Epstein’s friends—and I think that is, in the end, the best word for the powerful people who orbit him—are willing to take him as he comes. Epstein is their confidant. Not the only nexus of them, but one of them. Dr. Epstein. Lay on my couch. As he is everybody’s confidant, everybody becomes his confidant. This is the back and forth, the power loop. His expertise is knowing what other people know. Which surely offers a unique sense of confidence that it is possible to understand how the world works. And in a time of such radical flux and existential instability, everybody wants to seek out someone who might have some answers or at least make you feel like he does—even, and maybe especially, the rich.
     In the last days of my interviews with Epstein, he was called by a particular world-stage individual, among the richest and most powerful—proudly louche himself—who, feeling out of his depth in a world of crashing oil prices and wild currency fluctuation, had come to believe he might benefit from some private tutoring. Epstein welcomed him to the club. 
 
 

"
IMAGES-004-HOUSE_OVERSIGHT_017643.txt,"Page 8 of 78
2007 Utah L. Rev. 861, *871

The full Advisory Committee took up the Subcommittee's proposals at its meeting on October 24-25, 2005. © It largely agreed
with the Subcommittee's proposals, approving a limited set of changes to the Rules to implement the CVRA. The Advisory
Committee sent a report of its proposed changes to the Standing Committee on Rules of Practice and Procedure in December,
2005. ® The Advisory Committee described its changes as seeking ""to incorporate, but not go beyond, the rights created by
the statute."" 7° The rules were then circulated for nationwide public comment. 7! The Advisory Committee held a public
hearing on [*872] the rule change in Washington, D.C. on January 26, 2007. I testified at the hearing, presenting this Article
as my testimony. 7

Ill. The CVRA's Right to Fairness Requires Comprehensive Changes to Protect Victims

The CVRA requires fundamental changes in the Federal Rules of Criminal Procedure. The CVRA makes crime victims
participants in the criminal justice process and commands in sweeping terms that the courts must treat victims ""with fairness
and with respect for the victim's dignity and privacy."" 73 To faithfully implement that directive, it is necessary to assess each of
the existing rules against a fairness standard and then make changes and additions where the Rules do not guarantee fair
treatment to victims.

The Advisory Committee has made some useful progress in that direction. It should be commended for the careful drafting of
its proposed changes and the thoroughness with which it explored the topic. Moreover, it is the nature of articles such as this
one to highlight points of disagreement rather than points of agreement. The Advisory Committee has seen fit to adopt several
of the proposals that I recommended, 7 a fact that should not be overlooked.

Unfortunately, the Advisory Committee acted timidly. Instead of reviewing all the Rules to determine whether they treated
victims fairly, the Advisory Committee decided it would not venture beyond parroting specifically described rights in the
CVRA. The committee's reporter, well-regarded Duke law professor Sara Sun Beale, articulated the Advisory Committee's
drafting technique as simply incorporating rights created by Congress:

The most basic decision was how far beyond the statutory provisions the rules should go at this time. Although the CVRA
enumerates a number of specific rights, it also contains general language stating that victims have a ""right to be treated with
fairness."" Judge Cassell advocates using this general right to fairness as a springboard for a variety of victim rights not
otherwise provided for in the CVRA.

[We] concluded that the rules should incorporate, but not go beyond, the specific statutory provisions. The CVRA reflects a
careful Congressional balance between the rights of the defendant, the discretion afforded to prosecution, and the new rights
afforded to victims. In light of this careful statutory balance, [we] felt that it would not be appropriate to create new victim
rights not based upon the statute. Rather, [we] [*873] sought to incorporate the rights Congress did afford into the rules. In so
doing, [we] attempted, to the degree possible, to use the statutory language. [We] anticipate[] that the courts will develop the

8 Judicial Conference of the United States, Minutes of the Advisory Committee on the Rules of Criminal Procedure (Oct. 24-25, 2005),
available at hitp://www.uscourts. gov/rules/Minutes/CR10-2005-min. pdf [hereinafter Advisory Committee Minutes].

6 Judicial Conference of the United States, Report of the Advisory Committee on Criminal Rules (Dec. 8, 2005), available at
hittp://www.uscourts.gov/rules/Reports/CR12-2005.pdf [hereinafter Advisory Committee Report].

7 Td. at 2.

71 Committee on Rules of Practice & Procedure of the Judicial Conference of the United States, Preliminary Draft of Proposed Amendments
to the Federal Rules of Appellate, Bankruptcy, Civil and Criminal Procedure (Aug. 2006), www.uscourts.gov/ rules/newrules1.html
[hereinafter Proposed Amendments] (last visted Dec. 30, 2007).

All testimony and other comments about the proposed changes can be found at www.uscourts.gov/rules/Proposed0206-1.him.

3 18 U.S.C. § 3771(a)(8) (2006) (emphasis added).

™ See, e.g., infra notes 96-97 and accompanying text (discussing amendment to Rule 18).

DAVID SCHOEN

HOUSE_OVERSIGHT_017643
"
IMAGES-008-HOUSE_OVERSIGHT_024712.txt,"ACKRELL
CAPITAL Cannabis Investment Report | December 2017

a dietary supplement but not represented for use as a conventional food or as a sole item of a meal or
the diet. A dietary supplement generally is deemed to be a food under the FD&C Act.

The FD&C Act does not require foods or food labels to be pre-approved by the FDA, but it does
give the FDA broad authority to regulate the safety of food and food labels and to prevent interstate
commerce in adulterated or misbranded food. Facilities engaged in manufacturing, processing, pack-
ing or holding food for consumption in the United States are required to be registered with the FDA.
The FD&C Act requires most foods to bear nutrition labeling and requires food labels that bear
nutrient content claims and certain health messages to comply with specific requirements. The FDA is
authorized to enforce safety and labeling regulations by conducting inspections, sampling, recalls and
seizures, and by pursuing injunctions and criminal prosecutions.

Cannabis-Based Foods and Dietary Supplements

The FDA has published guidance (most recently updated in August 2017) concluding that (i) the
FD&C Act does not permit foods to which THC or CBD have been added to be sold in interstate
commerce and (ii) any product containing THC or CBD is not a dietary supplement. For this conclu-
sion to be legally correct, based on the FD&C Act provisions cited by the FDA, it would need to be
demonstrated that neither THC nor CBD were marketed in or as a food or as a dietary supplement
before the occurrence of certain approvals and clinical investigations of drugs that include THC (e.g.,
Marinol) or CBD (e.g., Sativex or Epidiolex). The FDA publication does not demonstrate that neither
THC nor CBD were marketed in or as a food or as a dietary supplement before such occurrences and
merely states that the FDA is “not aware of any evidence that would call into question” its conclusion.
The FDA’s conclusion has not been subject to any legal challenge, and it remains unresolved whether
certain cannabis-based products, particularly hemp-derived CBD products, might be regulated by the
FDA as foods or dietary supplements rather than as drugs.

FDA Policy and Enforcement

In December 2016, the FDA published a document titled Botanical Drug Development; Guidance for
Industry that discusses several areas in which, due to the unique nature of botanical drugs, the FDA
believes it is appropriate to apply regulatory policies that differ from those applied to nonbotanical
drugs. The guidance discusses challenges inherent to botanical drugs, including challenges related to
ensuring therapeutic consistency, and suggests certain steps to address those challenges. The guidance
was published only months after the DEA announced a new policy designed to increase the number
of DEA-registered cannabis cultivators and permit-registered cultivators to grow cannabis for privately
funded commercial drug development projects. These parallel developments indicate to some that the
federal government is opening a pathway to federal approval of cannabis-derived drugs.

The FDA has the legal authority under the FD&C Act and related regulations to significantly dis-
rupt the state-legal cannabis industry in the United States. The FDA has issued warning letters during
the past several years to distributors of hemp-based CBD products but has not broadly enforced fed-
eral law against the cannabis industry. A cannabis-focused publication on the FDA website states that
in deciding whether to initiate federal enforcement, the FDA may consult with its federal and state

76 © 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024712
"
IMAGES-006-HOUSE_OVERSIGHT_021500.txt,"@ @ bs
(Rev. 06-04-2007) b7C

FEDERAL BUREAU OF INVESTIGATION

Precedence: ROUTINE Date: 02/06/2008
To: New York Attn: SSAC —~—“‘CSC‘*CS
Squad C-20 :

From: Miami
PB-2/PBCRA
Contact: SA
Approved By:
Drafted By:
Case ID #: 31E-MM-108062~”” tPendtine

Title: JEFFREY EPSTEIN;

WSTA - CHILD PROSTITUTION
Synopsis: To set leads for captioned investigation.
Reference: 31E-MM-108062 Serial 125

Wye Enclosure(s): Enclosed for New York is a copy of referenced
serial, FD-302 of

(Vg Details: On 07/24/2006 the Federal Bureau of Investigation (FBI),
Palm Beach County Resident Agency (PBCRA), began investigating
Jeffrey Epstein, art-time resident of Palm Beach, along with

PBCRA obtained informa
Police Department

Following the receipt of the case files from the PBPD,
PBCRA began interviewing a series of girls, ranging in age from
| fourteen through mid to early twenties, who reported a similar

ae- UM ~ 10g0b2- jay

oz{_pren

HOUSE_OVERSIGHT_021500

"
IMAGES-009-HOUSE_OVERSIGHT_027652.txt,"Time: 12/06/18 06:06:13 AM (565797973)

Flags: 1060865
Is Read: Yes
Is Invitation: No

GUID: 4958D3C3-F77A-4B83-BEBB-47B84E22723B

Message: Yes... brutal

Sender: e:jeeitunes@gmail.com

Time: 12/06/18 06:07:59 AM (565798079)

Flags: 1093637
Is Read: Yes

Is Invitation: No

GUID: ALEODFDA-9910-4972-9478-13COB7BBEOC1

Message: Dems want a silver bullet for trump;
belief

Sender: e:jeeitunes@gmail.com

Time: 12/06/18 06:08:42 AM (565798122)

Flags: 1093637
Is Read: Yes

Is Invitation: No

GUID: SE8A357E

612B-4866-B6é6F-831D2C28130D

Message:

sender : iy

Time: 05/06/19 04:15:37 AM (578834137)

Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: BF2D0D7/3-9F6C-4911-B1DF-C96B7421B1B7

Message:
your email.

Sender: e:jeeitunes@gmail.com
Time: 05/06/19 04:16:08 AM (578834168)
Flags: 1085445

Is Read: No
Is Invitation: No
GUID:

CC370549-4B54-4745-896E-722B28095CF9

Message: yes but not state quality

Time: 05/06/19 04:18:05 AM (578834285)

Im relegated to a mid and long strategy ,

some of the conversations are beyond

neither assured. UGH

Do you have someone good working on your cyber security? I always worry about

HOUSE_OVERSIGHT_027652
"
IMAGES-007-HOUSE_OVERSIGHT_023986.txt,"It starts with a grand entrance: You'll walk in on a three-story staircase Starting Friday
as wide as an IMAX screen. A double-sided fireplace and baby grand 20/7 at Noon BST

piano jazz up the lobby while Technicolor furnishings like cherry-red

sofas and silver wallpaper add to the whimsical vibe. The Allegro, a

Kimpton hotel, is a vibrant example of boutique-style hospitality in
Chicago that playfully tips its hat to old-world glamour without ever
taking itself too seriously.

Click here to preview sale

Sleep in a Palace in Portugal

Vidago Palace - Portugal

HOUSE_OVERSIGHT_023986
"
TEXT-001-HOUSE_OVERSIGHT_022658.txt,"From: Thomas Jr., Landon 
Sent: 1/9/2015 6:24:30 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: off the record 
Importance: High 
on phone now -- will call when i am done 
On Fri, Jan 9, 2015 at 1:20 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
number? 
On Fri, Jan 9, 2015 at 2:17 PM, Thomas Jr., Landon <I______________________h> wrote: 
Lets have a chat -- you do need to fight back some how. Present evidence that she is lying AND show 
the world that you are no longer that guy. You have made changes __and that this is the past. My 
sense is that its TV type thing where you just talk honestly about this/present evidence that its not 
true/ and focus on what you have been doing for past five years. Charlie Rose? 
But you cant just sit there taking punches like this -- especially wen the British tabs are driving this. 
Maybe you go on British TV.... 
Call me any time. 
On Fri, Jan 9, 2015 at 1:08 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
Landon. the story teller , crafted much of it out of whole cloth. . part of her story, is that 
she was at multiple orgies with clinton and speciifically, the minute details of a dinner had on the 
island with him, "" he sat on my left. came by black. heli. flown by ghislaine. clinton was NEVER EVER 
there, never, it punches a hole in the dershowitz , andrew allegation. making it all apparent that it was 
fantasy. and delusional. thoughts. who should break the story. 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 022658 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index  
.html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
1 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.h  
tml 
HOUSE OVERSIGHT 022659 
"
IMAGES-009-HOUSE_OVERSIGHT_028207.txt,"/ BARAK / 73

explicit. I told President Clinton I could speak only for how I would respond if a
state was indeed declared without a peace deal. “We will extend Israeli sovereignty
over the major settlement blocs. We will establish a security zone in the Jordan
valley, and let them know that there will be a heavy price should they attack any of
the outlying settlements.” In other words, Palestinian unilateral action would
prompt unilateral Israeli action. “And the confrontation will begin.”

Clinton seemed, if not completely revived, considerably more upbeat when he
came back to see me an hour later. He told me that he had received the
Palestinians’ answer. The way he described it to me, Arafat had agreed to leave
President Clinton to decide the amount of West Bank land that would go to a
Palestinian state, a figure he now told me that he was assuming would end up at
around 90 to 92 percent. The trade-off, he said, would be a limited, “symbolic”
land swap. Arafat also wanted control of the Jordan Valley, but had agreed to
begin negotiating on Israeli security needs there as soon as possible. Then, came
Arafat’s counter-conditions, which appeared to bother the President much less than
they did me. Everything would be contingent on an unspecified, “acceptable
outcome on Jerusalem.” And despite Clinton’s emphasis that any meaningful
agreement had to include a formal declaration that the Israeli-Palestinian conflict
was “over,” Arafat was insisting that could come only after the terms of whatever
we agreed were fully implemented.

Still, it was at least a step forward. Clinton seemed genuinely encouraged, and I
didn’t want to risk closing off this first chink of light. I suggested, for instance, that
we could address Arafat’s reluctance about an “end of conflict” statement by
providing an American guarantee that the terms of the deal would be implemented.

Still, it very soon became clear that any hope of real progress rested on by far
the most difficult issue: Jerusalem. Across party boundaries, even across divisions
between religious and secular, nearly all Israelis viewed the city as not just our
capital, but the centrepiece of the state. It had been divided after 1948. The Old
City, and the site of the ancient Jewish temple, had been under Jordanian rule for
19 years when our forces recaptured it in the Six-Day War. It was under a Labor

359
HOUSE_OVERSIGHT_028207
"
IMAGES-006-HOUSE_OVERSIGHT_021266.txt,"Earth, only 2 million of which have been
identified thus far. Most of the species
identified are either born with the
capacity to find sustenance and avoid
predation sufficiently well that some
survive long enough to reproduce, or
they are born in such large numbers that
some survive long enough to reproduce.
It is the ability of such organisms to
reproduce that determines what genes
constitute the gene pool for the future
generations of that species. These genes
in turn, shape the structure and function
of the organisms that constitute a
species. This reasoning led George
Williams (2) to suggest a half century
ago that traits (i1.e., behavioral
tendencies) which benefit the group at
the expense of the individual would
evolve only if the process of group-
selection was great enough to overcome
selection within groups. He further
suggested that group selection is nearly
always weak, so that group-related
adaptations do not exist (3). Richard
Dawkins (/) popularized the notion that
traits which evolve are adaptive at the
gene level through his use of the
metaphor of the selfish gene. Genes
serve their own selfish interests in the
sense that whatever the contributions
made by a gene, or set of genes, to an
organism’s structure and function would
be passed on to the next generation if
and only if the gene made its way to the
gene pool. Survival of the fittest now
had a biological basis.

United We Stand, Divided We Fall

2

Charles Darwin did not know
that genes were the mechanism through
which structures and behaviors evolved,
but an important component of his
original theory was the notion of
survival of the fittest. Darwin was also
puzzled by the observation that many
individual organisms made themselves

Page |20

less fit so that the group might survive.
Subsequent generations of evolutionary
biologists realized that even though
genes might act as if selfish, the vehicle
responsible for the transport of these
genes to the gene pool occasionally
extended beyond the individual or parent
to kin and even to unrelated members of
groups. More specifically, in some cases
the superorganismal structures formed
by social organisms represent naturally
selected levels of organization above
individual organisms (4).

Consider the example of the
Emperor penguin (Aptenodytes forsteri).
Emperor penguins typically reside near
their food source of squid, shoaling fish,
and small crustaceans but in early winter
they gather into breeding colonies
(rookeries) up to 60 miles inland in April
and May during the Antarctic winter.
They search for their mate from the
previous year, and go through a
courtship ritual before mating. The
female lays only one egg in May or
June, which coincides with the start of
the bitter Antarctica winter. The
Emperor penguins are thought to have
developed this unusual winter breeding
behavior to permit the chick to grow to
independence the following summer,
when food is plentiful. Ensuring the
chick survives that long is a collective
enterprise, with the vehicle responsible
for the chick surviving long enough such
that it too can reproduce not being solely
the mother or the father but also the
huddle.

The birthing of the egg leaves the
mother depleted, so she must return to
the seaside to feed while the father
assumes responsibility for the incubation
of the egg during the winter. An egg
from an Emperor penguin will quickly
freeze if left exposed to harsh winter
conditions of the Antarctica, so the

HOUSE_OVERSIGHT_021266
"
IMAGES-009-HOUSE_OVERSIGHT_027134.txt,"Message: ask him if he will see tom barrack, thats the
Sender: e:jeeitunes@gmail.com
Time: 01/27/17 07:59:45 AM (507225585)

Flags: 1085445
Is Read: No

Is Invitation: No

GUID: EFF7/78186-DDD1-4CD3-A5DC-F40B59057852

Message: he is free to call me for inside baseball

sender: i’

Time: 01/27/17 08:03:24 AM (507225804)

Flags: 1060865

Is Read: Yes

Is Invitation: No
GUID: 41DA794F-399B-4FO0F-9A2A-07FE34BE9B35
Message: Vernon Jordan- Josh Bolton - Jared Kushner - Me

sender:

Time: 01/27/17 08:03:59 AM (507225839)

Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 966267FE-BEF0O-457B-B160-3939140489C0

Message: That's who he is seeing He doesn't know barrack
Sender: e:jeeitunes@gmail.com

Time: 01/27/17 08:04:24 AM (507225864)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: EE1A296D-8388-497F-9D68-304A4B3BDD11

Message: vernon is lover, josh will not have a role.
Sender: e:jeeitunes@gmail.com

Time: 01/27/17 08:04:28 AM (507225868)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: E51090A3-CD9F-42F0-A5EE- 6F2ACLCC6FF5

Message: over.

sender:

most important.

, jared is good.

HOUSE_OVERSIGHT_027134
"
TEXT-001-HOUSE_OVERSIGHT_025651.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
jeffrey E. [jeeyacation@gmail.com] 
9/18/2015 6:30:01 PM 
Lawrence Krauss 
Re: an article you may both hate. or like. 
DA866543-7401-4A5A-8E50-FD32E33A5OEC.png 
Importance: High 
or we can visit him on his 
On Fri, Sep 18, 2015 at 2:26 PM, Lawrence Krauss < wrote: 
When I was with him yesterday I told him we were going to caribbean and he asked where.. He has an island 
in bahamas, making you two the only people I know who own islands.. :) will ask him if he is free then. He is 
remarkable in new movie, though the film itself is not fantastic.. he is also a pretty good guitarist., his show 
with alice cooper and joe perry in la was great. 
Lawrence M. Krauss 
Director, The Origins Project at ASU 
Co-Director, Cosmology Initiative 
Foundation Professor 
School of Earth & Space Exploration and Physics Department 
Arizona State University, P.O. Box 871404, Tempe, AZ 85287-1404 
Research Office Assistant (Jessica): 
Oriainc Offirp (Cu  thia): 
origins.asu.edu I twitter.corn/Ikraussl I krauss.faculty.asu.edu 
Origi,roic, 
AFILEIDNA STATE UNIVERSITY 
On Sep 18, 2015, at 9:08 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
you can invite depp to visit us when you are in the caribean 
On Thu, Sep 10, 2015 at 4:10 PM, Lawrence Krauss <W wrote: 
Ps. My piece argued against fanaticism. 
Lawrence M. Krauss 
Director, The Origins Project at ASU 
Foundation Professor 
School of Earth & Space Exploration and Physics Department 
Arizona State Universit, P.O. Box 871404, Tempe, AZ 85287-1404 
Research Office: , Assistant (Jessica): 
Origins Office (Cynthia): 
origins.asu.edu I twitter.com/Ikraussl I krauss.faculty.asu.edu  
<DA866543-7401-4A5A-8E50-FD32E33A5OEC.png> 
Sent from my iPhone 
On Sep 10, 2015, at 12:02 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
HOUSE OVERSIGHT 025651 
I think religion plays a major positive role in many lives. . i dont like fanaticism on either side. . sorry 
On Thu, Sep 10, 2015 at 7:52 PM, Noam Chomsky > wrote: 
Thanks for sending. A wide area of agreement, but not total. 
On confronting dogma, I of course agree — though in my opinion the secular religions — nationalist fanaticism, etc. — 
are much more dangerous. And if some find rational discussion offensive — as, for example, mainstream academics 
find dismantling myths of ""American exceptionalism"" or ""Israeli self-defense"" or Obama's mass murder campaign, 
etc., offensive — so be it. 
But I don't see why that should extend to ridicule. That includes astrologists. Astronomers can refute astrology, 
while recognizing that perfectly honest and deluded people may believe it and should be treated with respect, while 
their beliefs are confronted with evidence. I also don't see why we should ridicule religious dogma, just as I don't 
think we should ridicule the much more pernicious secular dogmas. Rather, we should respond to irrational belief 
with argument and evidence, while recognizing that their advocates (like most of the intellectual world in the case of 
secular dogma) are people who we should be responding to but without ridiculing them. It may be hard 
sometimes. For example, when the icon and founding father of sober non-sentimental Realism in International 
Affairs informs us that the US, unlike other countries, has a ""transcendental purpose,"" and the fact that it constantly 
acts in contradiction to its purpose doesn't matter because the facts are just ""abuse of history"" while real history is 
""the evidence of history as our minds reflect it,"" then it's hard to avoid ridicule. But we should. There's no point 
ridiculing virtually the entire IR profession and the major journals, even though such extraordinary irrationality leads 
to major human disasters. 
On Davis, I frankly think that's a non-issue. If she decides she cannot do her job as the conditions of employment 
require (including following the law), then she can quit and look for another job. As in any other such case. 
Noam 
From: Lawrence Krauss [mailto:_________________________________ 
Sent: Thursday, September 10, 2015 1:51 AM 
To: Noam Chomsky < .; jeffrey E. <jeevacation@gmail.com> 
Subject: an article you may both hate. or like. 
hope all is well. 
Lawrence 
http://www.newyorker.com/news/news-desk/all-scientists-should-be-militant-atheists 
Lawrence M. Krauss 
Director, The Origins Project at ASU 
Co-Director, Cosmology Initiative 
Foundation Professor 
School of Earth & Space Exploration and Physics Department 
HOUSE OVERSIGHT 025652 
Arizona State University, P.O. Box 871404, Tempe, AZ 85287-1404 
Research Office Assistant (Jessica 
Origins Office (Cynthia) 
origins.asu.edu I twitter.comilkraussl I krauss.faculty.asu.edu 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 025653 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 025654 
"
IMAGES-004-HOUSE_OVERSIGHT_018216.txt,"and crews to emerge from their cabins and start steering the boat.

Kishore Mahbubani is dean of the Lee Kuan Yew School of Public Policy,
NUS, and author of the forthcoming book The Great Convergence: Asia,
the West, and the Logic of One World.

Article 6.

Foreign affairs

Pyongyang's Nuclear Logic

Jennifer Lind, Keir A. Lieber, and Daryl G. Press

February 14, 2013 -- In his State of the Union address, U.S. President
Barack Obama described North Korea's recent nuclear test as a
provocation that required a firm response. The intended audience for that
provocation, though, is up for debate. Some commentators have posited
that the test was a signal aimed at China, designed to demonstrate North
Korea's independence from its great-power patron. Others think that Kim
Jong-un was sending a message to the newly elected president of South
Korea, Park Geun-hye. Still other North Korea experts have suggested that
the test was actually meant for domestic consumption, to lift the sagging
morale of a deprived public or for the regime to curry favor with the
military. The intended North Korean signal is being analyzed and debated
by U.S. government officials, who hold views across the spectrum.

A much simpler explanation exists. Pyongyang tested a nuclear device for
the same reason it has been testing long-range missile designs: to see what
works. In truth, the effort was less a signal than an attempt to master the
technical capabilities that are vital to its nuclear deterrent.

This rationale should come as no surprise to those steeped in Cold War
history. Between 1945 and 1992, the United States conducted 1,054
nuclear tests and fired an untold number of missiles. If the goal had merely

HOUSE_OVERSIGHT_018216
"
IMAGES-007-HOUSE_OVERSIGHT_023038.txt,"Date: Friday, March 4 2011 04:56 PM
Subject: Fw: Fwd: FW: Ghislaine Maxwell
From: Gmax <gmax1@ellmax.com>
To: jeevacation@gmail.com;

-—— Original Message -----

From: The Duke

To: Gmax

Sent: Fri Mar 04 11:46:49 2011

Subject: Fw: Fwd: FW: Ghislaine Maxwell

Hey there! What's all this? I don't know anything about this! You must SAY so please. This has NOTHING to do with me.
I can't take any more of this.

From: Jeffrey Epstein <jeevacation@gmail.com>
To: The Duke

Sent: Fri Mar 04 16:31:26 2011

Subject: Fwd: FW: Ghislaine Maxwell

---—----- Forwarded message ----------
From: GMAX <gmax1@ellmax.com>
Date: Fri, Mar 4, 2011 at 8:28 AM
Subject: FW: Ghislaine Maxwell

To: J Jep <jeevacation@gmail.com>

-——- Forwarded Message

From: Mark Cohen [>
Date: Fri, 4 Mar 2011 11:14:35 -0500

To: NY Max <gmax 1@ellmax.com>
Subject: FW: Ghislaine Maxwell

FYI, following up on my email of this morning. Again, I have no intention of responding unless you direct otherwise.

re

Sent: Friday, March 04, 2011 11:12 AM
To: Brett D. Jaffe
Subject: Ghislaine Maxwell

HOUSE_OVERSIGHT_023038
"
IMAGES-004-HOUSE_OVERSIGHT_017125.txt,"4.2.12
WC: 191694

Our wives—most of whom had known us as adolescents—agreed that we had been pretty nerdy
back then, but they prided themselves on having seen through the external faults that had
relegated us to C lists. ""You don't need to buy the 50's in a store,"" one spouse quipped, ""you guys
are walking memorabilia."" Another turned an old phrase: ""I was able to take my husband out of
the 50's, but I can't take the 50's out of him.""

The early 1950s—my high school years from September 1951 to June 1955—were not my finest
hours. Yet they were as formative as any other period, though the formative dynamic was mostly
reactive. I think about them often. My wife says I am obsessed with nostalgia for my troubled
adolescent past.

Perhaps that is because I would like to relive them—both to regain my vigorous youth and to use
it in a more productive manner. I’m not sure. But I am sure that my early teens laid a firm
foundation for my very successful late teens—my college years at Brooklyn between the ages of
16 and 20. I had something to prove, and I went about proving it with a vengeance.

My parents were hoping I would make a B average in college, which was very respectable in
those days before grade inflation. They didn’t want me to get A’s because A students became
teachers, and they certainly didn’t want me to get C’s, as I had in high school. I could never
satisfy them. I went straight from C’s to A’s, almost never getting a B in anything. I really
blossomed in college, though I didn’t do anything very different from what I had done in high
school. I was a “smart aleck” and a “wise guy,” but these qualities were appreciated and
rewarded at Brooklyn College, while at Yeshiva High School they were punished. Whenever I
came up with anything original in my high school religious classes, my rabbis would say: “If your
idea is so good, then the ancient rabbis, who were so much smarter than you, would have came
up with it first. If those rabbis, who were so much smarter than you, didn’t come up with the idea
first, then it can’t be any good.” End of discussion. It was all different at college.

‘4 Salesmen at the nostalgia shops tell me that men in their 40's and 50's
experience the need to ""collect"" their adolescence more than women do. ""When I
see a guy with a goofy looking grin dragging a couple of teen-age kids through my
door on a weekend, I know my summer vacation will be paid for,"" one shop
owner told me. ""But if he's got his wife with him, he'll probably buy just one

sensible memento for his office.""

38

HOUSE_OVERSIGHT_017125
"
IMAGES-003-HOUSE_OVERSIGHT_015534.txt,"Case 1:15-cv-07433 Document1 Filed 09/21/15 Page 4 of 12

15. Rather than confer with the victims about the NPA, the U.S. Attorney’s Office
and Epstein agreed to a “confidentiality” provision in the Agreement barring its disclosure to
anyone—including Epstein’s victims. As a consequence, the victims were not told about the
NPA.

16. On July 7, 2008, a young woman identified as Jane Doe No. 1, one of Jeffrey
Epstein’s victims (other than Giuffre), filed a petition to enforce her rights under the Crime
Victims’ Rights Act (“CVRA”), 18 U.S.C. § 3771, alleging that the Government failed to
provide her the rights promised in the CVRA with regard to the plea arrangement with Epstein.
The litigation remains ongoing.

i On or about May 4, 2009, Virginia Giuffre—identified then as Jane Doe No.
102—filed a complaint against Jeffrey Epstein in the United States District Court for the
Southern District of Florida. The complaint included allegations made by Giuffre that pertained
to Maxwell.

18. In pertinent part, the Jane Doe No. 102 complaint described in detail how
Maxwell recruited Giuffre (who was then a minor girl) to become a victim of sex trafficking by
introducing Giuffre to Jeffrey Epstein. With the assistance of Maxwell, Epstein was able to
sexually abuse Giuffre for years until Giuffre eventually escaped.

19. The Jane Doe No. 102 complaint contained the first public allegations made on
behalf of Giuffre regarding Maxwell.

20. As civil litigation against Epstein moved forward on behalf of Giuffre and many
other similarly-situated victims, Maxwell was served with a subpoena for deposition. Her
testimony was sought concerning her personal knowledge and role in Epstein’s abuse of Giuffre

and others.

HOUSE_OVERSIGHT_015534
"
IMAGES-002-HOUSE_OVERSIGHT_012612.txt,"""08/16/2007 17:05 FAX .5618021787 USAO WPB FL 601

U.S. Department of Justice

United States Attorney
Southern District of Florida

A. Marie Villafatia

500 S. Australian Ave, 4th Floor
West Pala Beach, Florida 33401
(564) 820-8731
Facsimile (561) 820-8777
FACSIMILE COVER SHEET
TO: Gerald Lefcourt, Esq.
DATE: August 16,2007 |
‘FAXNO. _232-988.6192 gorpraces:__ | O
PHONE NO. _ 242-737-0400 RE: NES ILC
C FROM: A. MARTE VILLAFANA, Assistant U.S. Attorney 7
PHONE NO, _ 561-209-1047 _- |
COMMENTS:

HOUSE_OVERSIGHT_012612
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And they said the revised agreement includes few provisions that will appreciably change the trade balance between the two countries, which Mr. Trump has complained about."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-1"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""additions"":[{""URL"":""https://money.cnn.com/2018/03/27/news/companies/south-korea-us-automakers/index.html"",""range"":{""length"":32,""start"":176},""type"":""link""}],""identifier"":""_anf-body-10"",""inlineTextStyles"":[{""range"":{""length"":255,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":255,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""For example: The agreement would double a cap on the number of American automobiles that may be easily exported to South Korea, to 50,000 from 25,000 a year per automaker. But no American automaker came close to reaching the existing, lower cap last year."",""type"":""text""},{""identifier"":""_anf-body-11"",""inlineTextStyles"":[{""range"":{""length"":336,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":336,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“The president referred to this deal as one of the worst agreements ever,” said Wendy Cutler, a vice president at the Asia Society Policy Institute, who helped negotiate the initial Korean agreement as a member of Mr. Obama’s administration. “And if you look at what was agreed to, it doesn’t seem to change the agreement dramatically.”"",""type"":""text""},{""identifier"":""_anf-body-12"",""inlineTextStyles"":[{""range"":{""length"":92,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":92,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“I view this as a win-win deal, some solid improvements,” she added, “but nothing dramatic.”"",""type"":""text""},{""identifier"":""_anf-body-13"",""inlineTextStyles"":[{""range"":{""length"":96,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":96,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Business groups cheered the updated pact, but stopped well short of calling it transformational."",""type"":""text""},{""identifier"":""_anf-body-14"",""inlineTextStyles"":[{""range"":{""length"":352,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":352,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“Manufacturers were glad to see the president recommit himself to the U.S. trading partnership with Korea today,” said Linda Dempsey, the vice president of international economic affairs at the National Association of Manufacturers. “A robust U.S.-Korea F.T.A. is essential to the jobs of hundreds of thousands of manufacturing workers across America.”"",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-2"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""additions"":[{""URL"":""https://www.bloomberg.com/news/articles/2018-04-03/south-korea-india-cut-trade-surpluses-with-u-s-as-trump-rails"",""range"":{""length"":32,""start"":217},""type"":""link""}],""identifier"":""_anf-body-15"",""inlineTextStyles"":[{""range"":{""length"":451,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":451,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The United States’ trade deficit in goods and services with South Korea had already been falling before the agreement was signed, to just above $9 billion last year from just under $17 billion in 2016, as the country increased purchases of machinery, liquefied natural gas and other goods from America. South Korea was also among the countries subjected to steel and aluminum tariffs, making those metals less lucrative to export to the United States."",""type"":""text""},{""additions"":[{""URL"":""https://ustr.gov/about-us/policy-offices/press-office/fact-sheets/2018/march/new-us-trade-policy-and-national"",""range"":{""length"":11,""start"":101},""type"":""link""}],""identifier"":""_anf-body-16"",""inlineTextStyles"":[{""range"":{""length"":251,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":251,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The trade deal will exclude South Korea from the steel tariffs, in exchange for that country capping its exports to the United States at 70 percent of the average of its export levels from 2015 through 2017. Korea will still face the aluminum tariffs."",""type"":""text""},{""additions"":[{""URL"":""https://apple.news/Ac4MflpdbTWGKFPgeVvsasQ"",""range"":{""length"":30,""start"":287},""type"":""link""}],""identifier"":""_anf-body-17"",""inlineTextStyles"":[{""range"":{""length"":471,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":471,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The revised agreement also lacks the robust “side deal” on currency manipulation that administration officials said would be included to prevent South Korea from weakening its currency, the won. Currency devaluation, as it is called, has been of particular concern to Mr. Trump, who has accused other trading partners, like China and the European Union, of trying to weaken their currencies so that Americans using the United States dollar can buy more of their products."",""type"":""text""},{""additions"":[{""URL"":""https://www.npr.org/2018/03/28/597556727/trump-administration-strikes-major-trade-deal-with-south-korea"",""range"":{""length"":17,""start"":261},""type"":""link""}],""identifier"":""_anf-body-18"",""inlineTextStyles"":[{""range"":{""length"":381,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":381,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“We’re going to be able to defend ourselves against currency undervaluations because, as part of this deal, there’s a very nice side deal agreement that the secretary of Treasury is negotiating over currency undervaluation,” Peter Navarro, a top trade adviser, told NPR in March. Mr. Navarro added that the currency agreement is “a benchmark for what we’ll be doing going forward.”"",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-3"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""additions"":[{""URL"":""https://ustr.gov/sites/default/files/files/Press/Releases/KORUS%20Texts%20Outcomes.pdf"",""range"":{""length"":31,""start"":89},""type"":""link""}],""identifier"":""_anf-body-19"",""inlineTextStyles"":[{""range"":{""length"":424,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":424,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""That side deal has yet to materialize. In August, the United States trade representative published the “agreed outcomes” from its negotiations with the Koreans: 24 pages of technical language and correspondence between officials from both countries, including agreements on American auto and prescription drug exports and Korean textile exports. There is no mention of currency in the agreement, or of any pending side deal."",""type"":""text""},{""identifier"":""_anf-body-20"",""inlineTextStyles"":[{""range"":{""length"":395,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":395,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""In a fact sheet released Monday afternoon by the White House, Trump administration officials said that “outside” the Korea pact, “the Treasury Department has an understanding with South Korea to avoid competitive devaluation and practices that provide an unfair competitive advantage. The understanding includes strong commitments on exchange rate practices, robust transparency, and reporting.”"",""type"":""text""},{""identifier"":""_anf-body-21"",""inlineTextStyles"":[{""range"":{""length"":135,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":135,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Mr. Navarro did not immediately respond to questions on Monday about what that “understanding” comprises, and whether it is in writing."",""type"":""text""},{""identifier"":""_anf-body-22"",""inlineTextStyles"":[{""range"":{""length"":228,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":228,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Asked about the lack of a side deal this month, Treasury officials did not respond directly to questions whether it exists or will exist, saying instead that they are happy with the state of talks with the Koreans over currency."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-4"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""identifier"":""_anf-body-23"",""inlineTextStyles"":[{""range"":{""length"":293,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":293,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“Building on existing discussions, the U.S. Treasury and Korea’s Ministry of Strategy and Finance intend to meet frequently to discuss concerns arising from macroeconomic and foreign exchange policies,” a Treasury spokesman said in response to questions about the promised currency provisions."",""type"":""text""},{""identifier"":""_anf-body-24"",""inlineTextStyles"":[{""range"":{""length"":278,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":278,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“We welcome the Korean government’s recent announcement that it will begin disclosing information on intervention in the foreign exchange markets,” he said, adding that “both countries continue to maintain a market-oriented exchange rate and are avoiding currency manipulation.”"",""type"":""text""},{""identifier"":""_anf-body-25"",""inlineTextStyles"":[{""range"":{""length"":221,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":221,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""Some Democrats say the lack of a firm currency commitment in the Korea deal is a worrying sign given the administration’s continuing renegotiation of trade deals with Mexico and Canada, as well as its strategy with China."",""type"":""text""},{""identifier"":""_anf-body-26"",""inlineTextStyles"":[{""range"":{""length"":189,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":189,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""“The White House went on record in March touting a currency deal with Korea that, it turns out, does not exist,” said Senator Ron Wyden of Oregon, the top Democrat on the Finance Committee."",""type"":""text""},{""bannerType"":""any"",""identifier"":""_anf-banner_advertisement-5"",""layout"":""ComponentLayout-4"",""role"":""banner_advertisement"",""type"":""banner_advertisement""},{""additions"":[{""URL"":""https://apple.news/A4MGoy4QlSpCp1GN2F-iwLQ"",""range"":{""length"":35,""start"":113},""type"":""link""}],""identifier"":""_anf-body-27"",""inlineTextStyles"":[{""range"":{""length"":252,""start"":0},""textStyle"":""_anf-ts-1""},{""range"":{""length"":252,""start"":0},""textStyle"":""_anf-ts-1""}],""layout"":""default-body"",""role"":""body"",""text"":""The Trump administration has been accused of overpromising on trade agreements before. 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Medium"",""style"":""italic"",""weight"":700,""width"":""normal""},""fontName"":""NYTCheltenham-BoldItalic"",""identifier"":""fd989419-0e0f-422b-ab24-12513a64cc3c"",""type"":""font""}},""specVersion"":""1.6"",""subtitle"":"""",""textStyles"":{""_anf-ts-1"":{""fontName"":""NYTImperial-Regular"",""identifier"":""_anf-ts-1""},""_anf-ts-47"":{""fontAttributes"":{""weightLabel"":""bolder""},""fontName"":""NYTFranklin-Bold"",""identifier"":""_anf-ts-47""},""photo-credit"":{""fontName"":""NYTCheltenhamSH-Regular"",""fontSize"":12,""identifier"":""photo-credit"",""textColor"":""#999999""},""pub-dt"":{""fontName"":""NYTCheltenhamSH-Regular"",""fontSize"":12,""identifier"":""pub-dt""},""related-pub-dt"":{""fontName"":""NYTFranklin-Medium"",""fontSize"":13,""identifier"":""related-pub-dt"",""textColor"":""#909090""}},""title"":""Trump Signs Revised Korean Trade Deal"",""version"":""1.0""}"
TEXT-001-HOUSE_OVERSIGHT_027046.txt,"From: 
Sent: 1/12/2012 3:23:25 PM 
To: jeevacation@gmail.com 
Subject: Re: B 727 thought 
Importance: High 
you want me to call Tarek, instead? just to confirm. 
In a message dated 1/12/2012 10:21:24 A.M. Eastern Standard Time, jeevacation@gmail.com writes: 
Call 
Sorry for all the typos .Sent from my iPhone 
On Jan 12, 2012, at 4:12 PM 
Wrote: 
Jeffrey, 
this may be a long shot to save the Boeing deal, or if you think its a dead deal, disregard this. 
I thought there was a connection between Tarek and myself, I do believe one concern was operation of Boeing with 
flight crew. I know its his problem not ours, but may help make the sale happen,. 
I wrote this email for your review, if you think its worth sending, please critique, and let me know,. thank you: 
Mr. Tarek El Sayed, 
I hope this email finds you well, and believe worth communicating my thoughts to you. 
I was surprised to hear that you decided against the purchase of our Super Boeing 727. I personally thought it was a great match for 
your business needs in Qatar. If for any reason your decision was based on crew issues and charter needs in the Middle East, I'd like 
to share some information that might prove beneficial to making you reconsider this purchase. 
The pilot candidates I have lined up for your interview along with the possibility of David Rodgers joining your flight department 
were as follows: 
(at no time did I disclose location or persons to the following pilot candidates to protect your privacy.) 
Robert Breslin, who is the former Chief Pilot of Mr. Donald Trump, Mr. Breslin flew the Boeing 727 and Boeing 757 owned by Mr 
Trump. Mr Breslin is a fine man of 40 years of age estimate, with extensive VIP Boeing operations. 
James Bartakowski, who has extensive flying experience in the Middle east, Africa and Europe regime. Mr. Bartakowski has also 
been involved in charter operations in Africa and Middle East and has contacted me on several recent occasions with charters for 
our Boeing 727, James has indicated there is the possibility of 40 — 60 hours per month charter operations for larger transport 
category aircraft in your area. I believe there is a growing need for charter in the business community in Qatar and neighboring 
countries. 
Bruce Jafahri, who is a current Boeing 727 captain who lived in Doha for two years, and familiar with international operations of 
Boeing 727 aircraft. Mr. Jafahri currently lives in California and ready for a new opportunity. Bruce is current in the Boeing 727 and 
also flew Captain on the Boeing 747. Well qualified individual and personable. 
Mr. El Sayed, as you have seen during our demo flight, our Boeing 727 is in impeccable condition, quite cabin and will provide many 
years of charter and business flights your company. I believe the large business jet future in Qatar is growing and you will be 
leading its path, and your initial investment in this purchase will not come close with other aircraft options on the market as you 
may have seen already. 
We are currently completing the C2C check on the Boeing, and as we have done in the past, assure you it will be a fine aircraft 
when it leaves Flight Star Maintenance repair facility. 
Sincerely, 
HOUSE OVERSIGHT 027046 
Lawrance Visoski 
Chief Pilot, JEGE Inc. 
= 
HOUSE OVERSIGHT 027047 
"
TEXT-001-HOUSE_OVERSIGHT_031624.txt,"From: 
Sent: 
To: Thomas Jr., Landon 
Subject: Re: Saudi money 
jeffrey E. [jeeyacation@gmail.com] 
10/19/2016 1:48:17 PM 
Importance: High 
sorry, no good handle without digging 
On Wed, Oct 19, 2016 at 9:47 AM, Thomas Jr., Landon <1.1> wrote: 
what is your back of the envelope guess as to much saudi money tied up in such funds? 
On Wed, Oct 19, 2016 at 9:43 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
most of the saudi money is tied up in pe funds. no withdrawals allowed. and im not seeing much in the 
secondary market. . blackrock is more money market, more like custodian than investor. 
On Wed, Oct 19, 2016 at 9:41 AM, Thomas Jr., Landon -1.1> wrote: 
Interesting. CEO of big finance form told me that Saudis (SAMA) have withdrawn $200 billion that 
has been parked with usual suspects over past year or so. That number seem in line with what you 
know? 
On Tue, Oct 18, 2016 at 7:04 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
words that you to refer to one thing, USA. the stock market / the Royal family, . are no longer very 
useful. In politics the USA meant the white house. now there is pentagon. cia, state, and congress in 
addition, each feels empowered to act more independantly. stock market even in tech, needs bio 
tech, consuner tech. infrastrucrue tech. etc. same with Royal family, there are 20k members of a 
tribe, called the royal family, the words are misleading. if your article is focused on bin salman, or 
the very top. no one is wondering where they can find the local costco.. but they are aware that a 
message needs to be sent to their population , regarding the next 20 years, 
social media, and the selfie crowds post the best of everything, their cutest pictures the amazing 
food , the luxury resorts. the masses see these things and as the difference between expectations and 
reality widen, the anger grows. trump has tapped in. 
with the passage of the 9 11 saudi bill, unlike the french revolution where it was the people of france 
that revolted against their own aristocracty, with the internet and globalization of discontect it is now the 
americans that can revolt against the saudi leadership. it is the americans that are demanding women 
drive, not the saudis 
On Mon, Oct 17, 2016 at 5:57 PM, Thomas Jr., Landon < > wrote: 
I have been called in to help on a big NYT investigation into how low oil prices have been 
effecting the personal finances of royal family in Saudi Arabia. Obviously they called in much of 
their cash from the likes of BlackRock and others but I thought you might have some ideas. 
Maybe some people to talk to? 
I would think its more than cutting down on yachts and private planes or selling real estate in 
Paris, Istanbul, London. 
Any thoughts? 
PS: does my story on Abraaj get me a meeting with Gates next time he is in town:) 
HOUSE OVERSIGHT 031624 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/ind  
ex.htnnl  
I 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/inde  
x.html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
HOUSE OVERSIGHT 031625 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.  
html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 031626 
"
IMAGES-005-HOUSE_OVERSIGHT_018887.txt,"Chain of Custody FD-192

b7

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REASON: .. cee eee ee ee et ee te eee eee eee ee ees Date/Time:...... 2c cece eee eee

HOUSE_OVERSIGHT_018887
"
IMAGES-002-HOUSE_OVERSIGHT_014263.txt,"IMPORTANT MESSAGE

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wants TO see vou | ruse |_|

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GIUFFRE00 1405

HOUSE_OVERSIGHT_014263
"
IMAGES-005-HOUSE_OVERSIGHT_019541.txt,"Hacktivist | 53

against the surveillance of the state, and in particular the NSA, they
not only attempt to hide their own identities but also use encryption
to obscure their messages. Their goal is to free their movements “of
any interference from law-enforcement.” In this mind-set, accord-
ing to Fitzpatrick, “they believe government intelligence agencies
will stop at nothing to stop them from absolute encryption.”

Tor software was a means to defeat the NSA, but for it to be suc-
cessful, there needed to be such a proliferation of Tor servers that
the NSA could not piece together IP addresses. The problem was that
the Tor Project, as they called it, was still a very tiny operation in
2012. It employed fewer than a hundred core developers, who were
located mainly in Germany, Iceland, Japan, Estonia, and the United
States. Its staff worked mainly out of a single room in Cambridge,
Massachusetts.

The guiding spirit behind the Tor movement in the private sector
was Jacob Appelbaum, a charismatic twenty-eight-year-old who had
grown up in Northern California. Like Snowden, he had dropped
out of high school. Appelbaum identified himself to his followers on

© the Internet as a “hacktivist” battling state surveillance. For him, as ©
for many in the hacktivist culture, the main enemy was the NSA.
After all, the NSA had a vast army of computer scientists working
to defeat Tor software. Appelbaum was well connected in this cul-
ture, having been the North American representative for WikiLeaks
before he moved to Berlin in 2013. He also managed WikiLeaks’s
cyber security when it released the classified documents it obtained
from Manning in 2010. He was so well regarded among hacktiv-
ists that Assange chose him as his keynote speaker replacement at
the Hackers on Planet Earth (HOPE) convention in New York City.
Assange told Rolling Stone, “Jake [Appelbaum] has been a tireless
promoter behind the scenes of our cause.” For its part, Rolling Stone
titled its profile of Appelbaum “Meet the Most Dangerous Man in
Cyberspace.” (Assange needed a replacement for this particular event
because he feared if he came to New York, he would be arrested for
releasing the Manning files on WikiLeaks.)

In Berlin, Appelbaum went to extreme lengths to protect him-
self from American surveillance. For example, when George Packer
interviewed him for The New Yorker in 2014, he insisted on meet-

| | Epst_9780451494566_2p_all_r1.z.indd 53 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019541
"
IMAGES-002-HOUSE_OVERSIGHT_012606.txt,""" s2.08/46/2007 17:06 FAX 5618021787 USAO PB FL . Boos

—~

I.

- For the period of January 1, 2003 to the present, all calendars, agendas, daily

all metadata included within the electronic/physical files.

ATTACHMENT TO SUBPOENA OLY-65/2
NES, LLC

diaries, or other records of appointmenis, travel, meetings and the like, kept by or
on behalf of Jeffrey Epstein, He Lesley Groff, and/or

. This request includes information that is kept in physical
“hard copy” and/or electronic form, whether stored on a personal computer,
database server, cellular telephone, “Blackberry” unit, personal digital assistant
(“PDA”) or other handheld electronic device, or in any other electronic form, and

For the period of January 1, 2003 to the present, all address books, contact lists, or
other records of names, telephone numbers, addresses, and/or e-mail addresses
kept by or on behalf of Jeffrey Epstein A TN Lesley Groff,
and/or BE This request includes information that is kept in
physical “hard copy’’ and/or electronic form, whether stored on a personal
computer, database sexver, cellular telephone, “Blackberry” unit, personal digital
assistant (“PDA”) or other handheld electronic device, or in any other electronic
form, and all metadata included within the electronic/physical files.

For the period of January 1, 2003 to the present, all e-mails, instant messages, text
messages, meeting invitations, and any other electronic Communication sent by
Jeffrey Epstein, Lesley Groff, and/or
BE. Jeriey Epsici, A PMI Lesley Croft, endo
Po This request includes information that is kept im physical
“hard copy” and/or electronic form, whether stored on a petsonal computer,
-database server, cellular telephone, “Blackberry” unit, personal digital assistant
(“PDA”) orother handheld electronic device, or in any other electronic form, and
all metadata included within the electronic/physical files.

For the period of January 1, 2003 to the present, all documents and information
referring or relating to the transfer of funds to or from any account owned by NES,
LLC to or from any bank account used for the maintenance of the property located
at 358 El Brillo Way, Palm Beach, Florida, or for the payment of any person
working at 358 E] Brillo Way, Palm Beach, Florida.

Page 1 of 2

HOUSE_OVERSIGHT_012606
"
IMAGES-003-HOUSE_OVERSIGHT_016029.txt,"Does God have
Free Will?

God. Scientists generally avoid the topic, but since we’re talking
about such a fundamental concept, we must consider whether
the Universe would be any different if it had a creator.

Recently there have been two widely publicized attacks on religious
belief from the scientific community: the head-on attack from Richard
Dawkins in The God Delusion or, the hard hitting sideswipe by Stephen
Hawking in The Universe in a Nutshell.

Hawking made the front pages in 2000 with the statement: “There
is then no need for a creator” He was considering whether God needed
to ignite the Big Bang or if it occurred as a natural result of the laws of
physics. Hawking had run the mathematics and realized a god was not
needed to light the blue touch paper for the Big Bang - the laws of physics
spontaneously caused it. His argument does not actually preclude the
existence of a god, but it does move the point where we need a creator
one step further up the chain.

This is not a fundamental change to the progress of theological
argument over the last thousand years. Once we abandon our vision
of God as a master builder, literally breathing life into Adam while
putting the finishing touches to the Garden of Eden, we can move him
up the causal chain as far as we like, eventually reaching a point where
intervention is necessary to get things started. Hawking is only pointing
out an intervention is not needed at the point of the Big Bang. It still begs

A ny discussion of free will is incomplete without some mention of

HOUSE_OVERSIGHT_016029
"
IMAGES-005-HOUSE_OVERSIGHT_018893.txt,"To: Miami From: s. . _

Re: 31E-MM, 07/24/2006

b6
b7C

It is requested by SAL ——C | that the above
captioned case be opened and assigned.

+4

r

HOUSE_OVERSIGHT_018893
"
IMAGES-002-HOUSE_OVERSIGHT_014277.txt,"Shaune — toilleen

ass Seven — warld dou lat so PUM, woth mi. Mass Donn

Pisn — Bet

Noten lua

Craig ba Poyn

Cu)
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Wo Frem dali Fora By

02/11/2015 Page 2283 Public Records Request No.: 16-268

HOUSE_OVERSIGHT_014277
"
IMAGES-002-HOUSE_OVERSIGHT_013518.txt,"to Christ. The brain waves recorded from electrodes deep in her brain demonstrated
transient episodes of spiking in a midline limbic structure called the septum and in
the right hippocampus, deep in the temporal lobe. Paul MacLean and others since
have shown that electrical stimulation of these and related brain regions could
produce pleasure and grooming reactions in cats and prolonged penile erections in
squirrel monkeys.

Many years later, | spoke about Donna with the Harvard professor of
neurology, Norman Geschwind. He took me to his twice a week epilepsy clinic. In
an effort to demonstrate what is now known as the Geschwind Syndromes of
between seizure, inter-ictal personality changes in patients with temporal lobe
epilepsy, he stood in front of the patients’ waiting room. In a loud voice, he asked
that all people keeping diaries and personal notebooks please stand up. Several did
so, some displaying their notebooks in outstretched hands. The pages that | saw
were filled mostly with religious writing, biblical quotations and exclamation points.
Gathering the positive responders together, he asked them in turn what religion they
were. Several answered the question with the question, “When?” It turned out that
many reported having several experiences of religious conversion. Geschwind
called them “Jamesian Episodes” after William James’ Varieties of Religious
Experience. He then asked when was the last time they engaged in sexual activity.
For most of them, including those that were married, it had been years. Thought the
men said they were not impotent, experiencing early morning spontaneous
erections, they claimed a complete loss of interest in sex though feeling warmly
affectionate toward people generally. As he anticipated, the patients were
emotionally intense and unstoppably loquacious, needing to speak at length about
their moral philosophies. They persisted in following us around the clinic waiting
room, several speaking at once. In his lectures and papers, Geschwind called this
last feature, difficulty in separation, interpersonal “stickiness.” First reported by the
French electroencephalographer, Henri Gastaut, a history of multiple ecstatic
religious experiences, increasing emotional intensity and lability, hyposexualilty (not
impotence), moralizing religiosity, compulsive and frequently poetic writing and

tendency to cling to people is now called the Geschwind Syndrome of temporal lobe

HOUSE_OVERSIGHT_013518
"
IMAGES-005-HOUSE_OVERSIGHT_019555.txt,"String Puller | 67

to back up the charges he made that Stellarwind was an unlawful
domestic surveillance operation. He could not have done so without
violating his sworn oath and, for that matter, U.S. anti-espionage
statutes. Binney made it clear to her and other journalists that he
was not a lawbreaker. But her new source, C4, was willing to do
what Binney (and other insiders) had refused to do. He was offer-
ing in these e-mails to provide her with secret government docu-
ments, even though it would implicate him as an outlaw. To further
whet her appetite, he told her that these up-to-date NSA documents
would fully substantiate the allegations that Binney made in her
film. Even more important, he said Binney’s 2001 disclosures were
still relevant to her cause. “What you know as Stellarwind has
grown,” he wrote to her. “The expanded special source operations
that took over Stellarwind’s share of the pie have spread all over the
world to practically include comprehensive coverage of the United
States.” In fact, as Snowden knew from the Inspector General report
he had read, the NSA had terminated Stellarwind almost a decade
earlier. President Bush ended it after top officials of the Justice
© Department insisted that he did not have the legal authority for the ©
domestic part of Stellarwind. Instead, he asked Congress to revise
FISA to meet the objections of the Justice Department. The result
was the FISA Amendment Act of 2006. Unlike the previous Stel-
larwind program, it did not permit domestic surveillance. It speci-
fied that the government could not target any person in the United
States or anywhere else in the world under this authority. Nor could
it target any foreign person, even one residing outside of the United
States, to acquire information from a particular known person inside
the United States. As the act recognized that information about U.S.
citizens might mistakenly be intercepted by the NSA, it required
that such data about Americans be expunged in a bimonthly review
by a Justice Department task force. Although the NSA program in
place in 2013 was not the comprehensive domestic surveillance that
Snowden claimed it to be, Poitras had no way of knowing at this
early state that her source was misleading her.
He offered to substantiate her worst fears about the growth of
NSA surveillance: “I know the location of most domestic intercep-
tion points, and that the largest telecommunication companies in the

| | Epst_9780451494566_2p_all_r1.z.indd 67 ® 9/30/16 11:09 AM | |

HOUSE_OVERSIGHT_019555
"
IMAGES-006-HOUSE_OVERSIGHT_021272.txt,"to others are weakening and to motivate
the repair and maintenance of the
connections to others that are needed for
our health and well being as for the
survival of our genes (27). Physical pain
is an aversive signal that evolved to
motivate one to take action that
minimizes damage to one’s body.
Loneliness is an aversive signal that
evolved to motivate one to take action
that minimizes damage to one’s social

body.

People differ dispositionally in
their sensitivity to the pain of social
disconnection (1.e., feelings of
loneliness; 28) just as people differ in
sensitivity to physical pain. Ostracism
or objective isolation in most species is
associated with an early death (29). In
humans, the chronic feeling of social
isolation, even when the person remains
among the protective embrace of others,
is associated with significant mental and
physical disorders (30). Chronic hunger,
thirst, and pain can also have deleterious
effects for, like loneliness, their adaptive
value lies in their effects as acute
signals, not as chronic conditions. The
opposite of feeling hunger, thirst, pain,
or loneliness is feeling normal, and this
is the state in which most people exist
most of the time.

The social connections formed
by humans need not be based on genetic
similarities. The human species has
evolved the capacity for and motivation
to form relationships not only with other
individuals but also with groups (e.g., a
Chicago Cubs or Boston Red Sox fan)
and nonhuman entities (e.g., through
anthropomorphism, 3/). Team spirit and
school spirit are familiar notions, and
although team or school spirit refers to
an invisible influence, it is an invisible
influence that is no less open to rigorous
scientific inquiry than are the invisible

Page |26

influences of gravity or magnetic flux.
In the cases of team and school spirit,
this influence represents a specific form
of social connection between an
individual and an emergent structure.

Perceived social connections are
abstractions that can transcend time and
space. People may feel a connection
with their ancestors or family heritage
even if they are the only remaining
descendant, just as people can perceive
personal connections with pets, cars,
television characters, celebrities, and
unseen spiritual entities with whom they
do not actually interact. A potent
component of spirituality (that does not
depend on a specific religion) is the
feeling of connection and purpose that
come from forming a relationship with a
higher being. A simple byproduct of our
selfish genes and social brains may be
our search for meaning in and
connection with broader organizations or
beings.

Conclusion

In 1939, the astrophysicist Sir Arthur
Eddington published a book entitled The
Philosophy of physical science (32). In it he
describes a hypothetical scientist who sought
to determine the size of the various fish in the
sea. The scientist began by weaving a 2-inch
mesh net and setting sail across the seas,
repeatedly sampling catches and carefully
measuring, recording, and analyzing the
results of each catch. After extensive
sampling, the scientist concluded that there
were no fish smaller than two inches in the
sea. The moral of Sir Eddington's analogy is
twofold. First, scientific instruments are
shaped by people’s intuitive theories of the
phenomena to be investigated. Second, once
developed, scientific expectations and
instruments shape data and theory in ways
more powerfully and fundamentally than are
often appreciated.

HOUSE_OVERSIGHT_021272
"
IMAGES-009-HOUSE_OVERSIGHT_028213.txt,"/ BARAK / 79

Syrians. Then to Geneva to see Assad, “where I felt like a wooden Indian, doing
your bidding. I will not let it happen here. I will simply not do it.”

I tried to keep my voice steady when I replied. I explained that the issues we
were addressing went to the heart of Israel’s interests, its future security, its
identity and definition as a nation. I had a responsibility to tread carefully. Then,
my voice rising too, I came back to what I felt was the real problem. Arafat and his
negotiators had been sitting and waiting for me and my team, and probably Clinton
as well, to deliver more and more concessions with no sign that they were willing
to move on anything. “I find that outrageous,” I said. I did not expect Arafat to
respond with equal concessions. After all, Israel had most of the tangible assets.
“But I did expect him at least to take a small step once we had taken ten. We have
not seen even this. This is the kind of behavior parents would not tolerate in their
own children! We don’t expect Arafat to accept this, but I do expect him to present
a counter-position.”

Clinton remained adamant he couldn’t go to Arafat with a retreat from our
earlier ideas. “My negotiating team moved beyond my red lines,” I told him. The
overnight talks were supposed to be non-binding and assumed that both sides
would make a genuine attempt to get an agreement. “I can’t see any change in
Arafat’s pattern. We take all the risks.” I said I doubted that Arafat expected to
hear that we had decided to “give him Jerusalem.” In any case, the Israeli public
hadn’t given me a mandate to do that. But I would still move in Arafat’s direction,
if and when I got any sign he was willing to do the same.

The President’s anger eased. He suggested he caucus with his negotiators and
figure out what to do next. I felt bad about what had happened: not about the list of
questions, or my insistence that we could not offer major concessions with no sign
of reciprocity. But I did regret that it had left the Americans so frustrated, and
Clinton so angry. He had invested not just huge amounts of time and brainpower,
but political capital, in the search for peace.

He phoned me at about 3:30 in the morning and asked me to come back. This
time, I went alone. We sat on the terrace of Aspen. He said again he couldn’t go to
Arafat with the list we’d drawn up. But having met with his negotiators, he
suggested they draft a more forthcoming list of their own — consistent with what
Shlomo and Gili had proposed. I agreed, as long as they kept in mind that it had to
be something I could ultimately live with, and that it be presented to Arafat as an

365
HOUSE_OVERSIGHT_028213
"
IMAGES-012-HOUSE_OVERSIGHT_032549.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032549
"
IMAGES-009-HOUSE_OVERSIGHT_027120.txt,"three years. His PhD dissertation became his first book, Slave Soldiers
and Islam (1981). Then his interest in purely academic subjects expanded
to include modern Islam. He left the university because, as he told an
interviewer from Harvard Magazine, he has “‘the simple politics of a truck
driver, not the complex ones of an academic.” His story of being
harassed through the legal system by a Muslim who later committed
suicide was recently told in The American Spectator (“A Palestinian in
Texas,”’ TAS, November 2012). He has been personally threatened but
prefers not to talk about specifics except to note that law enforcement has
been involved. I interviewed Pipes shortly before Christmas, when the
Egyptians were voting on their new constitution. I started out by saying
that the number of Muslims in the U.S. has doubled since the 9/11 attacks.

DP: My career divides in two: before and after 9/11. In the first part I was
trying to show that Islam is relevant to political concerns. If you want to
understand Muslims, I argued, you need to understand the role of Islam in
their lives. Now that seems obvious. If anything, there’s a tendency to
over-emphasize Islam; to assume that Muslims are dominated by the
Koran and are its automatons—which goes too far. You can’t just read the
Koran to understand Muslim life. You have to look at history, at
personalities, at economics, and so on.

TB: Do you see the revival of [slam as a reality?

DP: Yes. Half a century ago Islam was waning, the application of its laws
became ever more remote, and the sense existed that Islam, like other
religions, was in decline. Since then there has been a sharp and I think
indisputable reversal. We’re all talking about Islam and its laws now.

TB: At the same time you have raised an odd question: “Can Islam
survive Islamism?” Can you explain that?

DP: I draw a distinction between traditional Islam and Islamism. Islamism
emerged in its modern form in the 1920s and is driven by a belief that
Muslims can be strong and rich again if they follow the Islamic law
severely and in its entirety. This is a response to the trauma of modern
Islam. And yet this form of Islam is doing deep damage to faith, to the
point that I wonder if Islam will ever recover.

HOUSE_OVERSIGHT_027120
"
IMAGES-004-HOUSE_OVERSIGHT_018202.txt,"Economics. They made Saddam Hussein one of the 10 wealthiest people
in the world. Besides, sanctions create sanctions-busting which, like drugs,
is a global criminal industry born entirely of the idiocy of western
diplomacy.

A year ago the Foreign Office defended yet another round of sanctions
against Tehran on the grounds they would ""hasten Iran's economic

collapse and deepen rifts within the regime, in the hope that saner voices
will deem the price of pursuing nuclear weapons too high"". Economies
don't collapse, any more than poverty changes governments. Even Greece,
now the most ""sanctioned"" nation in Europe, has not collapsed. Places just
get poorer. As for ""saner voices"", they go into exile, hiding or prison.
That's where sanctions send them.

Iran is a proud nation of 80 million mostly Muslim people, one of many
Asian and African states struggling between theocracy and democracy,
tradition and modernity. These are agonising struggles among and within
peoples, to which the west has contributed nothing but hostility and
belligerence. Under the cloak of ""counter-terror"", it has been as crass as it
was during the Crusades. Of course no one wants to see nuclear weapons
spread. Russia tried to stop China getting them. China tried to stop North
Korea. The west tried to stop India and Pakistan, while hypocritically
tolerating Israel and the replenished arsenals of France and Britain. No
pressure made the slightest difference to anyone.

If Iran really wants a nuclear weapon, it will get one — the more so when it
is threatened with dire retribution if it does. That is how such states react
to pressure. Ever since the dodgy election of 2009, threats and sanctions
have not weakened the regime's determination to proceed, but rather
weakened opposition to it. If ever there was a country unlikely to respond
to diplomatic bullying, it is Iran. If ever there was a country that might
respond to constructive engagement, to commercial, governmental and
cultural intercourse, it is also Iran. Why the west should want to make it
another North Korea passes comprehension.

Article 3.

HOUSE_OVERSIGHT_018202
"
IMAGES-004-HOUSE_OVERSIGHT_017131.txt,"4.2.12
WC: 191694

students hated his course, because they learned no law. Goldstein had failed the bar and had
never practiced a day in his life. I loved his course and seminars and was deeply influenced by his
approach to law.

Another professor who influenced my approach to law, but in a rather different way was Alex
Bickel, who taught me advanced constitutional law. He looked at our constitution politically and
structurally and had a coherent, if imperfect, theory of how the constitution should be interpreted.
Both of these mentors defied conventional labels, such as liberal or conservative.

The professor who had the most influence on my career choice was Telford Taylor, who
combined an active constitutional law practice with teaching and writing. Although we could not
have been more different in background and bearing—he was a tall, elegant WASP, had served as
a general in the Army, was the Chief Prosecutor at the Nuremburg Trials, always wore a suit and
tie, and was polite to a fault—we had much in common and became close friends and colleagues.
(So much for needing mentors of the same ethnicity, religion, race, gender, etc!) I consciously
tried to model my career (except for the Army part) after his.

Shortly after John Kennedy was elected president, rumors began to circulate that Taylor was
being considered to head the C.I.A. He took me aside one day after class and asked me, in
confidence, whether I would consider coming with him to Washington, if he were to get the
appointment, and serving as his executive assistant. I told him I would certainly consider such an
offer. Eventually President Kennedy appointed someone else, deeming Taylor too liberal for the
job. Years later, Telford and I discussed how different our lives would have been if we had both
joined the CIA. “One thing I know would have been different,” Telford quipped. “There would
have been no Bay of Pigs.”

Telford Taylor made me another offer, during my second year in law school, which I also could
not accept. He had been hired to go to Jerusalem to broadcast the trial of Adolf Eichmann, a job
for which he was eminently suited, having been the Chief Prosecutor of Nazi war criminals at
Nuremberg and also Chairman of the Federal Communications Commission. He asked me to
come with him to serve as his research assistant and translator. But I had just been elected Editor-
in-Chief of the Yale Law Journal and didn’t feel comfortable being away for so long. I declined
the offer, and have always regretted missing that important historical event. (Years later, I
observe and write about the trial of accused Nazi war criminal John Demjanjuk in Jerusalem.)

During law school I also developed a keen interest in the relationship between law and other
disciplines, such as economics and science—both physical and social. I worked as a research
assistant on Professor Calabresi’s groundbreaking article on law and economics, and a research
assistant to Professors Goldstein and Katz on their teaching and writing on law and psychiatry. I
eventually collaborated with Goldstein and Katz on a book entitled Psychoanalysis, Psychiatry and
the Law. Later I collaborated with Telford Taylor n several human rights projects.

During law school I also developed interests in civil rights, especially with regard to
desegregation. In college I had joined the NAACP and had participated in a bus protest to

Washington. In my second summer at law school I went to Howard University in Washington

44

HOUSE_OVERSIGHT_017131
"
IMAGES-003-HOUSE_OVERSIGHT_015520.txt,"308 M. Hoffman et al.

usually is not commonly known. Thus, they will not reward or punish based on
effectiveness, and we ourselves will not attend to effectiveness in equilibrium. This
explanation suggests that if we want to increase efficacy of giving, we ought to
focus on making sure donors’ friends and colleagues are aware of the efficacy of
different options. In fact, this is perhaps more important than informing the donor
of efficacy, since the donor will be motivated to uncover efficacy herself.

Magnitude of the Problem. We are surprisingly unaware of and unaffected by the
magnitudes of the problems we contribute to solving. How many of those who par-
ticipated in the recent ALS Ice Bucket Challenge have even the vaguest sense of the
number of ALS victims? (Answer: about 1/100th the victims of heart disease.) How
much happier would these individuals have been if the number of ALS victims were
cut in half? Multiplied by 100? The same questions could be asked about AIDS or
cleft lips. If we were actually motivated by our desire to rid the world of such afflic-
tions as we often proclaim, then we would be happier if there were fewer afflicted
individuals and less happy if there were more. But we are not even aware of these
numbers, let alone affected by them. This suggests an alternative motivation than
the one we proclaim.

On the other hand, if we give in order to gain social rewards, it does not matter
whether the problem is large or small, provided others recognize it as a problem and
the social norm is to give. If our learned or evolved preferences were drastically
impacted by the magnitude of the crises, we would be sensitive to whether the prob-
lem was solved, perhaps motivating us to ensure that others solve it, which we
would not get credit for, or perhaps motivating us to devote too much of our
resources to solving it, beyond what we would actually get rewarded for.

Observability. There is overwhelming evidence that people give more when their
gifts are observed. Much of this evidence comes from the lab, where it has been
demonstrated a myriad of ways (e.g., Andreoni & Petrie, 2004; Bolton, Katok, &
Ockenfels, 2005; List, Berrens, Bohara, & Kerkvliet, 2004). For instance, when
participants play a public goods game in the laboratory for money, their contribu-
tions are higher when they are warned that one subject will have to announce to the
room of other participants how much they contributed (List et al., 2004). However,
evidence also comes from real-world settings, which find large effects in settings as
diverse as blood donation (Lacetera & Macis, 2010), blackout prevention (Yoeli,
Hoffman, Rand, & Nowak, 2013), and support for national parks (Alpizar, Carlsson,
& Johansson-Stenman, 2008). In Switzerland, voting rates fell in small communi-
ties when voters were given the option to vote by mail (Funk, 2006), which makes
it harder to tell who did not vote, even though it also makes it easier to vote. In fact,
our willingness to give more when observed extends to subtle, subconscious cues of
being observed: People give twice as much in dictator games when there are mark-
ings on the computer screen that vaguely represent eyes (Haley & Fessler, 2005),
and they are more likely to pay for bagels in their office when the payment box has
a picture of eyes above it (Bateson, Nettle, & Roberts, 2006).

These results should not surprise anyone who believes our pro-social tendencies are
influenced by reputational concerns (though the magnitudes are surprisingly large).

HOUSE_OVERSIGHT_015520
"
TEXT-001-HOUSE_OVERSIGHT_014498.txt,"﻿86th year, No. 23811 TUESDAY, DECEMBER 13, 2016 $1
86
A Pulitzer Prize-Winning Newspaper
ST. CROIX ST. JOHN ST. THOMAS TORTOLA
CELEBRATING THE PEOPLE, CULTURES AND HISTORY OF THE VIRGIN ISLANDS SINCE 1930
Mini
Page
Pages 28-29
Tax hikes
With government piggy bank empty
Mapp turns to taxpayers for cash
Unpaid vendor says
trash haulers might
stop collections Page 3
V.I. teams
rack up
golds
in P.R.
Back Page
Centennial
Countdown
Sin taxes on alcohol, tobacco and soda
and taxes on property and time-share owners
would fund court-ordered back pay Page 5
Businesses to face spike in unemployment insurance rate
to help V.I. government pay $69 million federal bill Page 2
Complex looks for
win in Puerto Rico
Back Page
Digging
up V.I.’s
past
Pages 10-11
Boat parade spreads
Christmas cheer
Page 24
www.virginislandsdailynews.com Twitter: @VIDailyNews www.facebook.com/virginislandsdailynews ISSN 2159-3019
2 The Virgin Islands Daily News VIRGIN ISLANDS
Tuesday, December 13, 2016
V.I. businesses face higher unemployment taxes
as territory struggles to pay down $69 million debt
By BRIAN O’CONNOR
Daily News Staff
Territory business owners will pay
four times the normal federal unemployment
tax rate this year because
of an unpaid government debt, documents
show.
The federal unemployment insurance
tax rate is traditionally 6 percent
on the first $7,000 an employee
makes. However, the federal government
usually offers a credit of 5.4
percent, meaning most employers actually
pay about 0.6 percent, according
to the IRS.
States — and territories — with
unemployment insurance programs
meeting federal standards are required
to meet their unemployment
obligations. When a state can’t meet
its unemployment obligations, it’s
entitled to take loans from the Federal
Unemployment Insurance Trust
Fund.
Federal documents show only one
state and one jurisdiction — California
and the U.S. Virgin Islands — are
currently in that position.
The territory owes $69,138,266.61
in loans, according to the U.S. Department
of Treasury website.
In fiscal year 2017, which began
Oct. 1, the loans have accrued
$294,349.15 in interest payments
alone.
The V.I. Labor Department is in
charge of administering unemployment
insurance. Labor Commissioner
Catherine Hendry did not return a
number of phone calls seeking comment.
Government House spokeswoman
Cherie Munchez would not comment,
saying that Hendry would issue
a prepared statement about the debt
by Wednesday.
Provisions of the Federal Unemployment
Tax Act stipulate that in
states or territories with outstanding
balances in the fund, businesses are
subject to a credit reduction, which is
collected and directed toward the unpaid
balance, according to Robert Pavosevich,
Supervisor of the Actuarial
Team in the Office of Unemployment
Insurance’s Division of Fiscal and
Actuarial Services in the Department
of Labor.
Virgin Islands business owners
will pay the original 0.6 percent, plus
an additional 1.8 percent caused by
the unpaid balance, for a total of 2.4
percent, Pavosevich said.
At the fully discounted rate, an
employer would pay $42 for each
employee earning $7,000. At the Virgin
Islands rate, employers will have
to pay $168.
After two years with an unpaid
balance, the discount decreases by
0.3 percent each year until the total
discount disappears, Pavosevich said.
“It’s capped at 6 percent,” Pavosevich
said.
At the full 6 percent, employers
will have to pay $420 for each new
employee earning $7,000 that comes
on board. By law, that money can’t
come out of the wages themselves
and is paid out of the profits or losses
that employers face, said Charles
Engeman, an attorney who served on
the Unemployment Insurance Advisory
Council under the administration
of Gov. John deJongh Jr.
Without payment on the loan — or
waivers or relief, which has happened
three times since 2013 — the rate is
scheduled to max out by 2028. That’s
barring the imposition of step increases,
which can happen if the state
has an outstanding balance for a certain
number of years, or if — as was
the case in the tax year 2012 — step
increases are piled on by other provisions
of the law, which could move
the unemployment tax rate up faster.
“It looks like they’re not making
much headway,” Pavosevich said, referring
to the territory’s debt.
The territory wasn’t alone in 2011,
the first year the rate went up. In all,
20 states and the Virgin Islands received
a 0.3 percent credit reduction
that year, federal documents show.
That’s in part because of the lingering
effects of the Great Recession,
said Bennett Chan, a lawyer who
represents several businesses and has
worked with the St. Thomas-St. John
Chamber of Commerce in the past.
In general terms, states collected
more money than they paid out during
the years leading up to the 2008
market collapse, creating large surpluses.
Sometimes those surpluses
were subject to financial raids. Other
times — as was the case in the territory
— the surpluses were used as
a cause to reduce the amounts collected
for unemployment insurance.
When large-scale unemployment hit
as a result of the recession, surpluses
turned into deficits, Chan said.
“A lot of states were blindsided
by the Great Recession,” Chan said.
“They also had big surpluses and
never foresaw that there would be
this sudden inflow in unemployment
claims.”
Territorial officials were late in reacting
to bring the rate back up to address
the issue, Chan said.
“If we had done it earlier, we probably
would have collected enough,”
he said. “Now they want to make it
up when times are hard.”
In many cases, the government
can’t say what each employer owes
“
I don’t think there’s enough political willpower to do
the kinds of thing necessary to fix the system.
— Charles Engeman,
an attorney who served on the Unemployment Insurance Advisory
Council under the administration of Gov. John deJongh Jr.
“
The business owners always bear the brunt of
whatever deficiencies we have. We have to, at some
point, find other sources of revenue for the
government. Any time there’s any sort of additional
tax burden, fee burden, licensing burden, it’s always
a point of concern.
— Kimberly McCollum,
president of the St. Croix Chamber of Commerce
or has paid in surplus, Engeman said.
The system originally was set up so
that employers faced a roller coaster,
Engeman said.
Each employer had a rate based
on a three-year average. If an employer’s
account paid out more in
benefits than they contributed, the
rate would go up to 5.4 percent. After
three years, the employer’s rate would
drop down to 0.1 percent, because at
5.4 percent, the rate exceeded likely
contributions.
At 0.1 percent, if anyone were laid
off, it immediately moved the employer
back to the 5.4 percent rate.
Employers would oscillate between
the 5.4 percent rate and the 0.1 percent
rate.
“It was 5.4 for many employers,
and that’s what an average employer
would pay out over the course of 17
years for one employee,” Engeman
said.
As a result, the unemployment
insurance fund accumulated large
surpluses. To reduce the surpluses,
the V.I. Labor Department dropped
the automatic increase based on a
negative account, and lowered the
minimum rate to 0. Less money came
in, even as unemployment rates remained
high and benefits remained
expensive.
A few steps could help move
the system back to sound footing,
Engeman said. For example, better
record-keeping would help reduce
delinquencies. Reducing unemployment
insurance benefits and
reducing the amount of time the
unemployed are eligible for unemployment
would both help. Verifying
that those collecting unemployment
are seeking employment, and
generally reducing fraud also would
help, Engeman said.
“I don’t think there’s enough political
willpower to do the kinds of thing
necessary to fix the system,” he said.
Chamber of Commerce officials
on both islands decried any increase
in taxes or fees for businesses.
“Despite what the governor and
the senators think, the economy of
the Virgin Islands is not doing that
well,” said Tom Brunt III, a member
of the St. Thomas-St. John Chamber
of Commerce Board of Directors.
Kimberly McCollum, president of
the St. Croix Chamber of Commerce,
said any increases to fees or taxes was
worrying.
“The business owners always bear
the brunt of whatever deficiencies we
have,” she said. “We have to, at some
point, find other sources of revenue
for the government. Any time there’s
any sort of additional tax burden, fee
burden, licensing burden, it’s always
a point of concern.”
The folly of the situation is compounded
by the fact that business
owners themselves aren’t allowed to
file for unemployment if they lose
their jobs, McCollum said.
“You’re still paying unemployment
taxes on what you’re paid, but you are
not allowed to request compensation
should you find yourself in a position
to file for unemployment,” she said.
— Contact Brian O’Connor at
340-714-9130 or email boconnor@
dailynews.vi.
ISSN 2159-3019
Daily News Publishing Co. Inc. owned
by VIDN Holdings, LLC publishes The
Virgin Islands Daily News daily, except
Sunday, Christmas Day and New Year’s
Day, at 9155 Estate Thomas, Charlotte
Amalie, St. Thomas, VI 00802. First
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St. Thomas. U.S.V.I
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POSTMASTER, send Form 3579, Notice
of Address Change, to: Circulation
Director, Daily News, 9155 Estate
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YEARS
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Tuesday, December 13, 2016 VIRGIN ISLANDS
The Virgin Islands Daily News 3
Work stoppage threat gets Waste Management to table
By JONATHAN AUSTIN
Daily News Staff
A Waste Management Authority
contractor had planned a work stoppage
this week because the Virgin Islands
Waste Management Authority
owes vendors a lot of money and they
can’t keep working for nothing.
However, discussions with administrators
at Waste Management led Peter
Caproni, owner of Your Environmental
Services Inc., to say he’s holding off on
urging garbage collection vendors to
stop work on Wednesday.
“I’m not intent on messing up our
communities,” said Caproni, whose
company picks up the bin sites on St.
John.
“We’ve created a dialogue. I am
a fair person,” Caproni said. “I want
to listen to what they have to say. It
seems as though they’re going to put
together an offer.”
Caproni had told The Daily News
on Monday he was announcing a
work stoppage beginning Wednesday.
He said he and other haulers were going
to stop emptying scores of bins
across St. Thomas and St. John because
Waste Management had failed
to pay them for weeks or months.
Caproni said he has worked 26
years in trash removal and roll on/
By BRIAN O’CONNOR
Daily News Staff
Police officials dismissed this week
multiple complaints filed by a former
employee against high-ranking members
of the V.I. Police Department.
The complaints are all filed by
Lynne Harrison, the former director
of the Police Training Bureau.
In one such complaint, Harrison
alleges Deputy Commissioner Curtis
Griffin Jr. was “receiving compensation
when absence from employment
without proper leave documentation,”
and “payroll fraud/embezzlement
— falsifying timekeeping records,
or when employees are not working
while on the job.”
In a letter attached to the claim,
Harrison says that from August 2016
to the present, Griffin received compensation
while not reporting for
duty at the department.
“In addition, he has not left forwarding
contact information to those
under his supervision and often was
not available during contact attempts
occurring during normal working
hours,” Harrison wrote. “Griffin was
available only via VIPD email which
was delayed or not deliverable, thus
leaving him ineffective and not suitable
to be classified as working telecommuting.”
Griffin dismissed the complaints
roll off services in the territory. He
said his company empties “all the
rear load bins on St. John,” and does
emergency Waste Management Authority
work on St. Thomas.
Contacted by The Daily News,
Waste Management Authority executives
were unaware Caproni and possibly
two other haulers were walking
off the job.
Roger Merritt Jr., the newly hired
executive director of the agency, said
Monday evening he wants to meet
with all the contracted haulers to see
what they are owed and come up with
a plan to get them paid.
“I understand that the haulers need
to get paid,” Merritt said. “We need
to ensure we are able to make timely
payments.”
Caproni said he is willing to listen,
but the answer has to be that the
Waste Management Authority comes
up with payment for services already
rendered.
“The solution is, you pay your bills
on time,” he said.
Patrick Charles, one of the vendors
Caproni mentioned, said Monday that
he has “reasons to be on board” with
a work stoppage, though he couldn’t
make such a decision alone.
“I realize that he is upset,” Charles
said, referring to Caproni. “It is time
for anybody to get upset. I’m in
agreement with him.”
Charles said his firm empties bins
on St. Thomas and hauls trash from
Waste Management Authority collection
sites in a number of government
housing communities.
Regarding how much Waste Management
owes him, Charles replied:
“It depends on what you call a lot.
They’re two months behind, now.”
Caproni wouldn’t say how
much Waste Management owes
him in total.
“It’s a big amount of money,” he
said. “I’m fed up with the whole
thing.”
Caproni said he estimated that
Waste Management owes various
vendors millions of dollars.
The Waste Management Authority’s
inability to pay vendors has been
a topic during Senate testimony over
the years.
Steve Aubin, who was interim executive
director of the Waste Management
Authority for most of 2016,
against him, and said he welcomed
an investigation.
“I want them to investigate because
I’m hoping — when all is done
— I’m hoping that maybe I can sue
her for slander,” he said. “I have nothing
to hide.”
Harrison’s letter calls for Griffin to
be investigated.
“While his explanation of absence
has been reported as a long term medical
procedure, due to the extraordinary
length of absence, previous absences,
and non-contact information,
a full investigation is warranted to insure
the people of the Virgin Islands
have not been deprived of its funds
due to improper payroll deductions
or notifications,” she wrote.
The complaint was one of 10 filed
after Harrison lost her job as director
of the police department’s Training
Bureau, according to copies furnished
by Harrison.
She filed a citizen’s complaint after
her termination alleging that Police
Commissioner Delroy Richards Sr.
had violated department policy and
that he had ignored requests for the
correction of a violation.
Harrison also filed a complaint
alleging Griffin’s administrative assistant,
Le-Reeda Lake, was absent
on sick leave for four weeks without
prior notice; that special assistant to
the commissioner Capt. Mary Duggan
had potentially disclosed confidential
department information to a
third-party vendor for personal gain,
and had used threatening behavior to
create a hostile work environment,
and that she had obstructed Harrison’s
performance of her duties.
Harrison further alleged that Lt.
Maria Colon-Jones had disrupted a
training presentation, and she said
her termination was retaliatory for
asking for sick leave to be treated for
Zika.
Harrison said that she eventually
fled the Virgin Islands in fear of her
life and that the police department
still owes her $5,000 in back pay,
Harrison said.
Harrison said Monday she’s submitted
her complaints to Gov. Kenneth
Mapp.
“I was the director of training and
was fired without cause,” she said. “I
had filed several complaints.”
Harrison said she requested 10 days
of medical treatment off-island to combat
a Zika infection on Oct. 18.
“Two hours later, I was terminated,”
she said.
Documents provided by Harrison
show she was suspended without pay
on Oct. 18, and terminated on Oct.
28.
Griffin said that while he was undergoing
cardio rehab in Florida, he
started hearing about issues involving
told the Senate Finance Committee in
July that the contractors needed to be
paid.
“It is clear that the contractors
are bearing the brunt while trying to
provide critical services in hopes of
payment by the authority as soon as
possible,” he said.
Aubin ran the agency after the retirement
of May Adams Cornwall until
Merritt was hired last month.
“The financial condition of the
Virgin Islands Waste Management
Authority is dire and requires immediate
attention and relief,” Aubin
told senators in July. “The authority’s
available cash to pay its contractors/vendors
timely is critically
limited, resulting in delayed payments
to its contractors/vendors;
growing accounts payable, which
is currently on the order of $10
million for its major contractors/
vendors; and non-compliance at the
Anguilla and Bovoni landfills with
court ordered mandates.”
An example of the outstanding
Harrison. Ultimately, Richards made
the decision to terminate Harrison,
Griffin said.
“Subsequent to her termination,
she started sending complaints,” he
said. “She said she heard that while
I was away I was practicing law and
not really sick.”
Harrison wasn’t his supervisor,
and wasn’t aware of how the accumulated
sick time was being used, Griffin
said.
“She submitted so many complaints
against so many people,” he
said. “It’s obvious that it’s frivolous.”
The complaints have not yet resulted
in an internal investigation,
Richards said.
“I found she was too much of a
distraction for us to move forward
with the actions as required of us by
the mandates of our consent decree,”
Richards said about his decision to
terminate Harrison.
Harrison had failed to submit to a
department background check in a
timely manner, Richards said.
“The department brought her in
on an interim basis initially, and then
she was asked to comply with the
package that we provided in order to
conduct a background investigation,”
he said. “She offered resistance. She
believed she could complete her own
timeline.”
Harrison said she had asked for 10
obligations owed by Waste Management
has been highlighted for the
last two years in Senate testimony
during the budget process. For Fiscal
Year 2016, the agency noted it owed
vendor Gem’s Construction $200,000
from fiscal year 2012 to pay for garbage
collection services on the island
of St. Thomas.
The Waste Management Authority
noted that it was “unable to identify a
revenue source” to pay Gem’s for the
years-old debt.
During testimony on the Fiscal
Year 2017 budget, Waste Management
again listed $200,000 owed
to Gem’s Construction for garbage
collection on St. Thomas. However,
Waste Management officials said the
$200,000 was owed from the 2011
fiscal year.
No one from Gem’s Construction
was available for comment Monday
afternoon.
Merritt said he believes the Waste
Management Authority can address
the overdue debt owed to the vendors.
“I think we can. We’ve got to get
a plan in hand and get them paid. If
they provide a service, they should
get paid,” he said.
— Contact Jonathan Austin at
340-714-9104 or email jaustin@
dailynews.vi.
Police: Ex-employee filing ‘frivolous’ complaints against top cops
“
The solution is, you pay your bills on time.
— Peter Caproni, owner of Your Environmental Services Inc.
days to secure her college transcripts.
“My email specifically says I am
not saying I don’t want a background
check,” she said.
Richards said he ultimately directed
Harrison’s complaints to the legal
department, but he said Harrison
continued to send letters and emails.
A response from the department’s
legal counsel provided by Harrison
says simply that Harrison couldn’t
use the citizen’s complaint process to
complain about things that happened
while she was the director of the
Training Bureau, and that each complaint
will be closed as it is received.
“In some of her letters and emails,
she appeared very threatening,”
Richards said. “In one of her emails
she wrote ‘You are sicker than a tree
branch that’s going to be cut down
very soon.’ It’s one ignorance after
another.”
Harrison disputes that characterization.
“I’m very professional,” she said.
Griffin was on legitimate sick leave
when he was in Florida, Richards
said.
“He was being treated and he entered
into a program in Florida,” he
said. “The woman is on a witch hunt
all over.”
— Contact Brian O’Connor at
340-714-9130 or email boconnor@
dailynews.vi.
4 The Virgin Islands Daily News VIRGIN ISLANDS
Tuesday, December 13, 2016
Police say woman tried to smuggle pot into prison
By BRIAN O’CONNOR
Daily News Staff
A Mon Bijou woman tried to sneak
two bags of marijuana into Golden
Grove, police said.
Sherifa Petersen, 27, faces a single
charge of introducing contraband
into prison, and was free on $10,000
bail about six hours later, according
to her arrest record.
V.I. police arrested Petersen on
Friday afternoon about 1:47 p.m.,
after corrections officers discovered
By BRIAN O’CONNOR
Daily News Staff
the marijuana hidden in the personal
belongings of inmate Omari Gordon,
according to Petersen’s arrest log.
Rick Mullgrav, Director of the Bureau
of Corrections, said corrections
officers discovered the marijuana
during a routine search.
Petersen “was bringing a package
for her companion, and I will
say her companion, because I’m not
sure what the relationship was there,”
Mullgrav said. “She was coming to
visit, and she brought some drugs.”
Corrections officers told police
The 3rd U.S. Circuit Court of Appeals
will sit this week in the federal
courthouse on St. Thomas.
Judges Kent Jordan, Michael Chagares
and Thomas Hardiman will hear
a range of appellate cases, ranging
from a local prisoner challenging his
detention as unconstitutional to an estate
battle over an inheritance in which
two separate federal cases were merged
into one.
The judges fly in from Philadelphia
to hear argument on issues they decide
at a later date.
Appellate court argument is based
around rapid-fire questions from the
empaneled judges, unlike civil or
criminal court, which frequently is
dominated by long exchanges between
they had smelled marijuana in a pair
of black Jordan sneakers Petersen
was bringing to Gordon, according to
a VIPD press release. When corrections
officers pulled apart the sneakers,
they discovered two small plastic
bags of marijuana, according to the
press release.
Any material that ends up in the
hands of prisoners is thoroughly
searched as a matter of routine, Mullgrav
said.
“We search any item that goes to
the inmates,” he said. “Generally
attorneys and witnesses.
The appellant attorney gets four minutes
to make a case, followed by four
minutes from the appellee, followed by
four minutes of rebuttal from the appellant
attorney, though judges’ questions
can sometimes turn four minutes into
eight.
For example, Ronald Gillette, incarcerated
in 2008 on multiple counts of
aggravated rape and unlawful sexual
speaking, it’s pretty thorough.”
Gordon, 32, has been in jail
since police charged him with firstdegree
attempted murder and firstdegree
assault following a Nov. 29
shooting on St. Croix, authorities
have said.
Gordon’s name also matches that
of a man charged in 2010 with the
murder of 19-year-old Kendal Wood.
Gordon’s trial languished in the Superior
Court on St. Croix for almost
three years, and he was most recently
granted a continuance in 2013.
contact against two children, is seeking
an appeal on a motion denying his release
from custody.
Gillette’s attorney, Joseph DiRuzzo
III, began on Monday by making his
case that the motion, ordered by Chief
District Court Judge Wilma Lewis,
constituted a final judgement and thus
was worthy of an appeal. DiRuzzo
sought a three-judge panel to overturn
Lewis’s order.
It didn’t take long for Jordan to ask
a question.
“How can it be a final order if there
are still claims in the case, if you’re still
seeking relief, which you are?” he said.
DiRuzzo had a response.
“The denial of a three-judge panel
effectively throws Mr. Gillette out of
court,” he said. He started to add to this,
but Jordan cut him off.
“There are claims for relief, they still
exist,” he said. “I’m struggling to see
how this is a final judgement.”
Orders relating to the change in
the reduction of a prison population
essentially rely on three-judge panels
to be valid, DiRuzzo said. Prison
orders issued by a single judge
are subject to challenge on appeal,
DiRuzzo said.
“I would submit that three-judge
courts are desirable in confrontations
between state and federal power,” he
said.
Kimberly Salisbury was the Assistant
Attorney General arguing for the
appellee. Her job on Monday was to
tell three federal judges that it wasn’t
their job to decide Gillette’s case.
“This particular order is just simply
not final,” she said, at one point.
The disposition of the murder
case involving Gordon couldn’t be
immediately ascertained Monday
evening.
Gordon had been released on electronic
monitoring and house arrest
pending trial in 2013, according to
court documents at the time.
He was being held on $500,000
bail in his most recent arrest, police
said.
— Contact Brian O’Connor at
340-714-9130 or email boconnor@
dailynews.vi.
Federal judges from Philadelphia in the Virgin Islands to hear cases
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However, Hardiman had a question.
If there was an order short of Gillette’s
release that could make the
prison resolve the Eighth Amendment
violations that put the prison under a
federal consent decree for decades to
resolve, Lewis or another judge could
still make the determination. The prison
has completed only 14 percent of
the new consent decree ordered in 2013
according to testimony.
“What would that order look like?”
Hardiman asked.
Salisbury struggled with an answer.
Jordan tried to steer the argument
back to the facts of the case.
“Does the fact that a 2013 consent
decree superseded and replaced the
original, does it mean the three decades
of prior noncompliance is to be ignored?”
he said. “You’re not even a fifth
of the way completed. At what point is
enough enough?”
Complying with the consent decree
will take time, Salisbury said.
“According to the Bureau of Corrections,
we’re not there yet,” she said.
Chagares jumped in, and compared
Golden Grove Adult Correctional Facility
to a luxury cruise liner.
“It’s like your big cruise ships out in
the bay,” he said. “It takes a long time
to turn around. But this is a really long
time.”
Hearings will continue today before
the Third Circuit at the DeLugo Federal
Building on St. Thomas at 9 a.m. Another
session is set for Thursday starting
at 10:30 a.m.
— Contact Brian O’Connor at
340-714-9130 or email boconnor@
dailynews.vi.
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Tuesday, December 13, 2016 VIRGIN ISLANDS
The Virgin Islands Daily News 5
Mapp turns to new taxes in accepting
court ruling on 8% government pay cut
By JONATHAN AUSTIN
Daily News Staff
Gov. Kenneth Mapp said Monday
he believes the territory must accept a
federal court ruling that found a 2011
government employee pay cut unconstitutional.
“After reviewing the case with the attorney
general and reviewing the case
with our financial team, I really am of
the mind that the government of the
Virgin Islands should make good on
this claim,” Mapp said.
He said he wants the Legislature to
sign on to a plan to pay the claim and
address other issues by approving increased
sin taxes, taxes on time-share
occupants, and changes that set a
minimum tax for property owners who
claim tax credits.
He said the lawsuit judgement is valued
at $65 million.
“We will include all workers affected
by the cut. In unions, all unions, and out
of unions,” Mapp said.
The territory had asked the full 3rd
U.S. Circuit Court of Appeals to reconsider
the judgement, which was penned
by three of the court’s judges.
The court rejected that request Monday.
The governor made his comments
during a press conference Monday
morning on St. Croix.
The conference originally had been
scheduled for Friday on St. Thomas,
but was delayed for no stated reason.
Mapp also announced he has invoked
public exigency authority to
fast track road repairs in the territory.
He described public exigency as
“sort of a public emergency” declaration
that should allow the government
to more quickly award repair contracts
for roadways that have deteriorated
following extensive rainfall.
Mapp said he has consulted with
federal authorities and hopes to access
existing highway project funds “to use
them to get the primary road system
and secondary road system repaired.”
He said the work will be done
under existing federal road requirements,
meaning they include proper
drainage, sidewalks, striping and other
elements, “all compliant with federal
highway and DOT standards.”
Regarding the 3rd Circuit ruling on
the 8 percent cuts enacted through the
V.I. Economic Stability Act of 2011,
Mapp said the territory could pay off
the amounts due to employees in two
years if plaintiffs in the case give the
government time to make good.
He said the payments can be satisfied
if new tax collections from what
he called the Virgin Islands Enhancement
and Economic Recovery Act,
which must be approved by the Senate,
total at least $80 million.
He said alcohol and tobacco in the
Virgin Islands is sorely undertaxed,
and 40 million bottles of beer are sold
each year in the territory.
Additional tax also would be
charged on distilled alcohol and wine.
“In addition, we are seeking at least
$12 per carton tax on cigarette and
tobacco products in the territory,” as
well as “a sugar tax on carbonated
sweet beverages,” Mapp said.
Mapp suggested most of the millions
of beers are consumed by tourists,
so the tax would target visitors
who enjoy the territory and should
contribute to maintaining its infrastructure.
“If you felt that was too expensive,
then stop drinking beer. That’s healthy.
That’s a benefit,” Mapp said, referring
to locals who drink alcohol.
Mapp is also seeking a tax on timeshare
occupants, and wants to require
that any resident claiming credits on
property taxes pay a minimum annual
property tax of $360.
He said the additional tax revenue
could also provide $18 million to pay
worker’s compensation debts to medical
providers, hospitals and injured
workers in the territory.
Mapp said Monday that “as of today,”
he was not prepared to call the
Legislature back into session to address
his proposal.
Senate Majority Leader Sammuel
Sanes said Monday he hopes more
revenue could be generated through
the reopening of the St. Croix oil refinery
to pay some of what Mapp wants.
“We shouldn’t rely so much on
taxation. Right now, people of the
Virgin Islands are facing a financial
burden. Now we want to tax them
more. That is not appealing to me at
all,” he said.
“There are some good points” to the
governor’s suggestions, Sanes said. “I
see his point. I can understand where
he is coming from,” he said.
Lame duck Sen. Clifford Graham
said Monday that the promise to repay
government workers back for the pay
cut won’t be enough to convince legislators
to support Mapp’s proposal.
“The governor has sent us his version
of the deficit reduction strategy,”
Graham said. There are parts that
senators will support, and “some we
definitely would not be in favor of,”
he said.
Graham said paying back the government
employees should be a priority.
“Are they Number 1 on the priority
list? I think there are more critical issues
now,” Graham said.
Graham said he is not sure whether
the 31st Legislature will consider
Mapp’s approvals before it stands
down this month.
“I am willing and able to work until
my last day,” he said. “I am not sure
the calendar will afford us the time to
do so.”
— Contact Jonathan Austin at 340-
714-9104 or email jaustin@dailynews.
vi.
Senate Agenda
Today
The Homeland Security, Justice
and Public Safety Committee will
meet at 9 a.m. in the Lawaetz Conference
Room on St. Croix to get an
update on the V.I. Police Department,
the V.I. Corrections Bureau and the
V.I. Health Department.
Wednesday
The Finance Committee will meet
at 9 a.m. in the Ottley Legislative
Hall on St. Thomas to consider a bill
relating to the International Banking
Center Regulatory Act and a bill reappropriating
$2 million of Luis Hospital
appropriations for the use of the
HVAC project.
Thursday
The Rules and Judiciary Committee
will meet at 9 a.m. in Ottley
Legislative Hall on St. Thomas to
consider bills that include a bill to increase
the Emergency Services Surcharge
from $1 to $2; a bill providing
for the disposition of proceeds from
the rental or sale of housing units acquired
in the Limetree Bay Terminals
operating agreement to a bill regarding
the establishment of credit unions
and their oversight; and a bill creating
the V.I. Risk-Based Capital for Insurers
Act.
Friday
No meetings.
Governor’s
Agenda
Today
No appearances scheduled.
Government House did not
provide Gov. Kenneth Mapp’s
agenda.

6 The Virgin Islands Daily News VIRGIN ISLANDS
Tuesday, December 13, 2016
Oswald Harris Court raid yields 2 marijuana arrests
By SUZANNE CARLSON
Daily News Staff
ST. THOMAS — A massive operation
involving more than a dozen
armed local and federal officers —
while a helicopter circled overhead
— at Oswald Harris Court on Friday
evening yielded two marijuana
arrests.
Jose Squiabro, 42, and Yasim Ross,
31, both of Oswald Harris Court,
were arrested as a result of the operation,
according to court documents.
Both were charged with possession
of marijuana with intent to distribute
and released Monday after posting
$10,000 bond each. Arraignment for
the two men is scheduled for Jan. 5.
Friday’s operation shut down the
housing community and caused
alarm for residents around Estate
Thomas, Long Bay and Centerline
Road.
More than a dozen armed officers
secured the intersection around Building
9 in the housing community as a
U.S. Customs and Border Protection
helicopter flew overhead. None of the
officers would say what they were doing,
but they were dressed in tactical
gear, some armed with long guns that
appeared to be semi-automatic rifles,
and officers wore body armor labeled
as being from the Drug Enforcement
Administration or police.
Probable cause affidavits filed
Monday against Squiabro and Ross
shed light on the operation, known as
“December Reign.”
The operation is a joint effort by
officers from Homeland Security Investigations,
U.S. Customs and Border
Patrol, the Bureau of Alcohol, Tobacco,
Firearms and Explosives, the
Drug Enforcement Agency, the Justice
Department, and the V.I. Police
Department. It is meant to patrol St.
Thomas housing communities, “due
to the recent increase in gun violence
in those areas,” according to the affidavit
for Ross.
At 4:45 p.m. Friday, officers approached
a group of men around
Building 20 and noticed Squiabro
drop a partially smoked joint, according
to the affidavit.
Officers recovered the joint and
105 bags containing marijuana, according
to the affidavit. The affidavit
does not note how large the bags
were or the total weight of marijuana
Daily News file photo
A U.S. Customs and Border Protection helicopter circles Estate Thomas
on Friday evening as police on the ground secured the intersection around
Building 9 at Oswald Harris Court housing community on St. Thomas.
By SUZANNE CARLSON
Daily News Staff
ST. THOMAS — Federal agents
arrested a crack cocaine dealer in
Red Hook on Saturday as part of
an ongoing investigation targeting
armed drug trafficking, according to
court documents.
Tolomah Foy was arrested and
charged with possession of crack
cocaine with intent to distribute, according
to an affidavit filed Monday
by a special agent with the U.S. Bureau
of Alcohol, Tobacco, Firearms
and Explosives, also known as the
ATF.
The arrest came as a result of operation
“Total Recall,” an ATF initiative
on St. Thomas that began in August
and is ongoing, according to the affidavit.
“This investigation focuses on the
armed drug trafficking fueling violence
which has resulted in over 48
recovered.
Officers also recovered $1,045 in
cash and a Samsung cell phone from
Ross, both of which were returned to
him, according to the affidavit.
Squiabro’s criminal history includes
a 1993 arrest for second-degree burglary,
which was dismissed in 1997;
a 1996 arrest for possession of stolen
property, for which he was sentenced to
a $500 fine, one year in jail suspended
after six months, and two years’ probation;
and a 2001 arrest for possession of
an unlicensed firearm, for which there
homicides to date,” according to the
affidavit.
Agents focused on armed drug
traffickers operating in Red Hook, a
commercial bar and restaurant district
frequented by a large number
of tourists, and have created cases
against 10 subjects for federal firearm
and narcotics violations so far,
according to the affidavit.
On Nov. 11, an undercover agent
made a cold contact with Foy, also
known as “T,” who led the agent
behind Tap and Still and sold him
approximately 3 grams of crack cocaine,
according to the affidavit.
The agent exchanged phone numbers
with Foy and called him on Nov.
14 to arrange another transaction outside
the Fresh Mart Grocery store.
Foy asked the agent to instead meet
him behind Tap and Still, where he
sold him approximately 6 grams of
crack cocaine for $200, according to
the affidavit. On Nov. 17, Foy sold the
was “no known disposition” listed in
court documents.
Similar to Squiabro’s arrest, at
about 5:50 p.m. Friday, officers approached
Ross and other men near
the 1st Stop Gas Station in Estate
Thomas, which is located south of
Oswald Harris Court. When asked
whether he had any illegal substances,
Ross said, “yeah I have a little
weed in my back pocket,” according
to the affidavit.
Officers found a total of 2.2 ounces
of marijuana packaged in various plastic
bags in Ross’ possession and arrested
him, according to the affidavit.
Ross’s criminal history includes a
2003 arrest for third-degree burglary;
a June 2009 arrest for delaying and
obstructing; a Sept. 2009 arrest for
first-degree robbery, possession of a
dangerous weapon, and unauthorized
use of a vehicle; and he was arrested
in January and charged with destruction
of government property.
Court documents list “no known
disposition” for each of Ross’s prior
arrests.
— Contact Suzanne Carlson at
340-714-9122 or email scarlson@
dailynews.vi.
Crack dealer arrested in Red Hook
agent 9 grams of crack cocaine for
$600 at the same location.
On Friday, the agent exchanged
text messages with Foy and arranged
for another transaction,
and on Saturday, agents recorded
a phone call with Foy in which he
agreed to sell approximately $1,500
worth of crack cocaine, according
to the affidavit.
The agent met with Foy at approximately
6:15 p.m. Saturday in the rear
parking lot of Tap and Still, “consequently
the ATF cover teams descended
on scene and arrested Foy,”
according to the affidavit.
Agents retrieved 15 grams of crack
cocaine from Foy on Saturday, and
seized approximately a total of 32
grams of crack cocaine from Foy during
the investigation, according to the
affidavit.
— Contact Suzanne Carlson at
340-714-9122 or email scarlson@
dailynews.vi.
Tuesday, December 13, 2016 FOR THE RECORD
The Virgin Islands Daily News 7
Man arrested in Arizona for
armed jewelry store robbery
By SUZANNE CARLSON
Daily News Staff
Police have extradited a man from
Arizona and charged him in connection
with the 2013 armed robbery of
Gems and Gold Corner, according
to V.I. Police spokeswoman Sakeeda
Freeman.
Ron Kuntz, 42, was arrested at
11:55 p.m. Saturday and charged
with irst-degree robbery, second-degree
robbery, grand larceny, irst-degree
assault, third-degree assault, destruction
of property, and aiding and
abetting. Bail was set at $150,000.
Kuntz and others were identiied as
being responsible for the armed robbery
in Drake’s Passage on Sept. 16,
2013, Freeman said.
The robbery occurred just before
10 a.m. when a man entered the store
and pulled a handgun from his waist,
police said at the time. The robber
told the owner, who was the only
person in the store at the time, to get
down and then broke out some of the
glass cases in the store.
Police did not say what the value of
the goods taken was.
Kuntz was apprehended and detained
in Tempe, Ariz., after a routine
trafic stop, and Arizona police
discovered there was an outstanding
warrant for Kuntz from the U.S. Virgin
Islands, Freeman said.
Kuntz waived extradition and was
returned to St. Thomas to face charges,
Freeman said.
Freeman said Kuntz lives in Estate
Tutu, but the V.I. Police arrest log listed
his address as East Baseline Road
in Phoenix, Ariz.
Anyone with information about
crime in the territory can contact
the V.I. Police Department at 340-
774-2211, the Criminal Investigation
Bureau at 340-714-9801, the
anonymous tip service Crime Stoppers
USVI at 1-800-222-8477, or
911.
— Contact Suzanne Carlson at
340-714-9122 or email scarlson@
dailynews.vi.
Cruise Ships
Today, Dec. 13
Norwegian Escape (5,400) 8 a.m. to 6 p.m. Havensight
Carnival Glory (2,974) 11 a.m. to 7 p.m. Havensight
Carnival Magic (4,675) Noon to 8 p.m. Havensight
Harmony of the Seas (6,780) 11 a.m. to 8 p.m. Crown Bay
Wednesday, Dec. 14
Norwegian Epic (4,100) 7 a.m. to 2 p.m. Havensight
Norwegian Gem (2,394) 8 a.m. to 5 p.m. Havensight
Regal Princess (3,560) 10 a.m. to 10 p.m. Havensight
Grandeur of the Seas (2,446) 9 a.m. to 6 p.m. Inner harbor
Eclipse (2,582) 8 a.m. to 5 p.m. Crown Bay
Oasis of the Seas (6,296) noon to 8 p.m. Crown Bay
The police blotter is the V.I. Territorial
Emergency Management
Agency’s list of calls to 911 Emergency
operators and the time they
were reported.
St. Croix
Charged: Assault
George Christopher, 62, of Mon
Bijou was arrested at 10:30 a.m. Friday
and charged with second-degree
assault-domestic violence. Police
said he choked a woman. No bail was
set per the domestic violence statute.
Charged: Fugitive from
justice
Everick Phillip, 31, of Mount
Pleasant was arrested at 6:20 p.m.
Sunday and charged with being a fugitive
from justice. Police said he was
wanted on a warrant out of Orange
County, Fla. No bail was set.
• • •
Incidents in the police blotter included:
Assault — 10:54 p.m. Sunday,
Golden Grove; 3:16 p.m. Monday,
Kingshill.
Destruction of property —
12:32 a.m. Monday, Salt River;
Police blotter
11:51 a.m. Monday, Strawberry
Hill; 12:09 p.m. Monday, Salt River;
6:30 p.m. Monday, La Reine.
Larceny — 11:17 a.m. Monday,
Mutual Homes; 3:15 p.m. Monday,
Richmond.
Vehicle tampering — 8:59 a.m.
Monday, Hannah’s Rest; 12:28 p.m.
Monday, La Reine.
St. Thomas
Charged: Assault
Anthony Picot, 31, of Smith Bay
was arrested at 2:40 p.m. Saturday
and charged with second-degree assault
and disturbance of the peacedomestic
violence. No bail was set
per the domestic violence statute.
Charged: Assault
Kimberley Williams, 27, of Bovoni,
was arrested at 5:50 a.m. Monday
and charged with third-degree assault-domestic
violence. No bail was
set per the domestic violence statute.
Charged: Assault
A 17-year-old boy was arrested
at 12:10 p.m. Monday in the area
of the Lucinda Millin Home and
charged with third-degree assault.
He was released to the custody of
his parents.
• • •
Incidents in the police blotter included:
Assault — 4:32 a.m. Monday, Oswald
Harris Court; 4:38 a.m. Monday,
Bovoni; 11:50 a.m. Monday,
Savan.
Attempted burglary — 6:03 p.m.
Monday, Mariendal.
Destruction of property —
3:56 p.m. Monday, Port Authority.
Larceny — 11:42 a.m. Monday,
Mahogany Estate.
Unlawful entry — 11:34 p.m.
Sunday, Anna’s Retreat.
Vehicle tampering — 11:34 a.m.
Monday, Port Authority; 7:37 p.m.
Monday, Zone C; 7:52 p.m. Monday,
Zone C.
St. John
Incidents in the police blotter included:
Larceny — 12:28 p.m. Monday,
Zone D.
Outside fire — 11:05 a.m. Monday,
Zootenvaal.
Vehicle fire — 2 a.m. Monday,
Gerder Marsh Road; 2:43 a.m. Monday,
Gerder Marsh Road.
8 The Virgin Islands Daily News DEATHS
Tuesday, December 13, 2016
Ivan A. Frazer Muhammed
Ivan A. Frazer Muhammed, also
known as BKA Kitchel or Rock City,
80, of St. Thomas, died Tuesday, Dec.
6, 2016, at Schneider
Regional Medical
Center. He was born
Oct. 6, 1936.
His children and
their children; daughter
– Denise Frazer;
Kneka Dewindt,
Rick Lewis and
Caprisha Richards; Ivan A. Frazer
daughter – Cheryl Muhammed
Frazer Jackson; Kevin
Jackson Jr. and Chynelle Munnilal;
daughter – Elise Frazer; Jaymel Leonard,
Jalima Francis, Tiba Francis, Gyasi
Francis, Jahmela Maduro, Jamari
Maduro and Jarise Maduro; daughter –
Rehenia Frazer-Phillip (Akiemba); Rehema
(Alika) Jackson, Saitah Aubain,
Sencelia Renolds, Quamid (Presidente)
Asani and Shaeed Gumbs; daughter –
Venise Frazer; daughter – Shenika Muhammed;
Jason And Jahni Pemberton;
son – Tyrone Frazer; Bajani Frazer,
Taj Mahal Frazer, Tamar Frazer, Sohi
Frazer, Jahti Frazer, Iibea Frazer; son
– Keith Frazer; Jarell Frazer; son – Albert
Frazer; son – Ivan Frazer Jr.; his
siblings/sister – Rehenia Joshua and
Blanche Frazer; and brother – Victor
Frazer.
Relatives and friends are respectfully
invited to attend the viewing at Christ
Church Methodist on Friday, Dec. 16,
2016, at 9 a.m., followed by the service
at 10 a.m. Interment is at Western
Cemetery No. 3.
Arrangements are under the care
of Hurley Funeral Home and Cremation
Center of St. Thomas, St. John, St.
Croix, and Tortola.
For directions and online condolences,
please visit us at www.hurleydavis.
com.
Diana S. Richardson
Services will be held Saturday for
Diana S. Richardson, 38, of St. Thomas,
who died Saturday, Nov. 26, 2016, at
Schneider Hospital.
The first viewing will be from 5 to
7 p.m. Friday at the
Celestial Chapel
of Hurley Funeral
Home.
The second viewing
will be from 9
to 10 a.m. Saturday
at Church of God of
Prophecy in Estate
Hoffman. The service
will follow at
10 a.m.
Diana S.
Richardson
Interment will be in Western Cemetery
No. 2.
She is survived by her mother, Sonia
Richardson; father, Romeo Richardson;
siblings, Romeo, Nancy, Sharon, Louise,
Karen and Lydia; nephews and nieces,
Ly’Dale, Jayziah, Kerrisa, Mokesha,
Aaliyah and Kayla; great aunts, Isalene
Clomel Shelford, Irene and Frances
Hughes, Rita Joseph and Olivia Rievere;
aunts, Verna Rollins, Claudette Prince,
Janetta Gumbs, Juliette, Ena, Christibell
and Violet Imogen Richardson; greatuncle,
Melvyn Shelford; uncles, Egbert
Hood, Aubrey, David and Elroy Prince,
David, Wycliffe, McIntosh, Elkin and
Sanford Richardson; cousins, Albert,
Yves, Egbert Jr. and Tisha Hood, Kim
Rollins, Patrick and Patricia Farrel, Toya
Rollins, Latrema Simon, Jermaine, Aubrey
Jr., David Jr. and Lanna Prince, Diana
Williams, Janice, Jewel, and Joslyn
Gumbs, Joanna Haley, Nigel, Davida,
Daniella, David, Radoykah, Radimiroh,
Radiquah, Rohan, Jan, Devaunie, Daeja,
Moyagaye, Udlyn, Simone, Leonardo,
Ashael, Elson, Elvin, Saniqua and Casey
Richardson; the Shelford, Rollins, Nibbs,
Maduro and Smith families; and many
other extended family and friends too numerous
to mention.
Arrangements are by Hurley Funeral
Home and Cremation Center of
St. Thomas, St. John, St. Croix, and
Tortola.
For online condolences visit www.
hurleydavisfuneralhome.com.
Germain Petersen
Services will be held Thursday for
Germain Petersen, who died on December
6, 2016, at
her residence. She
was 61.
The viewing will
be from 8 to 9 a.m.
in the Celestial Chapel
at Hurley Funeral
Home.
The funeral Mass
will follow at 10 a.m.
at Our Lady of Perpetual
Help.
She will be cremated.
Germain
Petersen
She is survived by her husband,
Donald Petersen; children, Donald, David
and Gina Petersen; daughter-in law,
Dawn Petersen; grandchildren, Delano
and Destini; brothers, Edward, Edmund
and Edville Bryan; sisters, Jeanette
Querrard, Joycelyn Harris and June
Aubain; sister-in-law, Eleanor Chote;
brothers-in-law, Daniel Petersen, Eddie
Aubain and Alpha Harris; special family
friends, Camille DeCosta and Gilbert
Laban Jr.; and many more family
and friends
Arrangements are by Hurley Funeral
Home and Cremation Center of
St. Thomas and St. John. For online
condolences visit www.hurleydavisfuneralhome.com.
Catherine Ann Elizabeth Felix
Services will be held Monday for
Catherine Ann Elizabeth Felix, 93, who
died on Dec. 5, 2016, at her residence.
The first viewing will be from 3
to 5 p.m. Sunday at Hurley Funeral
Home.
The second viewing
will be from 9 to
10 a.m. Monday at
Saint Andrews Episcopal
Church followed
by the funeral
service at 10 a.m.
Interment will be
in Eastern Cemetery.
She is survived
Catherine Ann
Elizabeth Felix
by her brother, William Fergus; sisters,
Grace Duberry, Catherine Lizzie White,
and Mary Allen; children, Noelise Noel,
Glendor Christine Fagan, Catherine Matthew,
Emeline Clauretta Felix, Nilda
Hector, Elsie Weeks, Joseph Fergus and
Winsley Felix Sr.; sons-in-Law, Patrick
Hector and Thomas Noel; Grandchildren,
Bernard and Robert Attidore; Derrick,
Jadine, and Carolyn Allen, Jacqueline
and Alicia Fagan; Neuvena Cuffy
and Tashina Rogers; Tamika De La Cruz,
Kyle and Nathan Felix; Wakima, Yakim,
and George Baptiste III, Phillip, Kristal
and Keanna Hector; Damali, Shanika,
and Kareem Smith, and Geneiva Weeks;
Joe-Ann, Joseph Jr., J. Daly, Ja’Den
Fergus; Carl and Winsley Felix, Jr.; and
many more great grandchildren, relatives
and friends.
Arrangements are by Hurley Funeral
Home and Cremation Center of
St. Thomas, St. John, St. Croix and
Tortola.
For directions and online condolences
visit www.hurleydavisfuneralhome.
com.

Tuesday, December 13, 2016 VIRGIN ISLANDS
The Virgin Islands Daily News 9
Prosecutors: white powder
letters contained hoodoo curse
By SUZANNE CARLSON
Daily News Staff
A woman facing federal criminal
charges for mailing letters containing
white powder was attempting to
place a hoodoo curse on her enemies,
according to court documents
filed by prosecutors in the case.
Eugenia Winston, who is facing
32 counts of mailing threatening
communications, placed “hotfoot”
powder into envelopes containing
subpoenas that she mailed to witnesses
set to testify against her in
a civil lawsuit against her former
employer, Scotiabank, according to
court documents.
Hoodoo, also known as “rootwork,”
is a traditional African
American folk spirituality that developed
from a number of West
African spiritual traditions and beliefs.
The detail came in prosecutors’
opposition to Winston’s motion to
suppress all of her statements to authorities,
which was filed Monday.
Winston has been free on unsecured
bond since Sept. 1, and her
civil lawsuit against Scotiabank alleging
employment discrimination
and harassment has been placed on
hold until the criminal case against
her is resolved.
At a detention hearing on Sept. 1,
Federal prosecutor Chris Fisanick
said Winston’s actions were a clear
threat intended to terrorize the recipients
of the letters, and made reference
to the 2001 anthrax attacks.
Postal Inspector Eric Oram said
at the hearing that the substance
was determined to be nontoxic and
was likely baby powder, cornstarch,
or a similar substance.
Winston’s attorney, Assistant
Federal Public Defender Gabriel
Villegas, argued that Winston is
the victim of an unfortunate misunderstanding,
and she accidentally
spilled body powder over and into
the envelopes.
However, Monday’s filing by
federal prosecutors paints a slightly
different picture of Winston’s
Hoodoo, also known
as “rootwork,” is a
traditional African
American folk
spirituality that
developed from a
number of West African
spiritual traditions and
beliefs.
actions.
“Winston mailed over 30 envelopes
that contained ‘hotfoot’
powder and subpoenas to various
individuals in the Virgin Islands.
Hotfoot powder is a hoodoo curse
designed to prevent witnesses from
appearing in court to testify,” according
to the filing.
“Hotfoot” powder is a hoodoo
practice of mixing various ingredients
— often some combination
of cayenne pepper, Sulphur, copper
sulphate, cornstarch and other elements
— which is believed to drive
away enemies. Commercial versions
of the powder also are available
for sale online.
Recipients of Winston’s letters
were mainly witnesses who might
testify against Winston in her lawsuit
against Scotiabank, and also included
U.S. Magistrate Judge Ruth
Miller, the legal counsel for Scotiabank
and Winston’s former counsel
in her suit against Scotiabank, according
to prosecutors.
Because the envelopes had a
return address of the U.S. Courthouse
on St. Thomas, “despite the
fact that Winston was serving these
subpoenas herself,” some of the envelopes
that could not be delivered
were returned to the courthouse and
opened by staff there, according to
prosecutors.
“Believing the powder to be anthrax
or some other deadly biological
toxin, the United States Courthouse
was evacuated and closed;
the employees in the courthouse
who were exposed to the powder
were quarantined for hours,” according
to the filing.
The incident caused significant
disruption at the courthouse and at
the private law office of attorney
Bennett Chan near the West Indian
Co. cruise ship dock.
“The purpose of lacing these envelopes
with hotfoot powder was to
instill fear and intimidation in the
witnesses to prevent their testifying
against Winston,” according to
prosecutors’ filing.
The filing does not indicate how
authorities determined the substance
in the envelopes was hotfoot
powder or what ingredients were in
the powder.
Winston admitted to FBI investigators
shortly after the envelopes
were received that she was
the sender. But Villegas has filed a
motion to suppress all of her statements
to law enforcement, saying
she was not properly advised of her
right to avoid self-incrimination.
But prosecutors shot back in
Monday’s filing, saying there is no
evidence in a video-recorded interview
with Winston that authorities
did not properly advise her of her
rights or attempt to intimidate her
to give a statement in any way.
Villegas wrote in his motion that
“the videotaped interview speaks
for itself.”
However, prosecutors wrote that
“the most cursory view of Winston’s
video recorded interview with law
enforcement agents establishes beyond
cavil that Winston was never
coerced, was properly and repeatedly
advised of her rights, and
consciously waived those rights,”
according to Monday’s filing. “The
first thirty seconds of the interview
wholly defeats Winston’s meritless
motion.”
Winston is scheduled to go to
trial on Jan. 11 before U.S. District
Judge Juan Sanchez.
— Contact Suzanne Carlson at
340-714-9122 or email scarlson@
dailynews.vi.

10 The Virgin Islands Daily News Tuesday, December 13, 2016
CENTENNIAL SCENE
Archaeology in the Virgin Islands
Virgin Islands
laborers excavate
pre-historic deposits
at Magens Bay, St.
Thomas.
The Cuban Scientific Expedition to the
Virgin Islands in 1951 was documented by
archaeologists Oswaldo I. Morales Patiño,
above, and Fernando Royo Guardia, and
subsequently translated and annotated
many years later for the Virgin Islands Archaeological
Society in its Journal number
5 (1978) by Alfredo E. Figueredo. Morales
Patiño was president of the National Board
of Archaeology and Ethnology within the
Ministry of Culture and Education from
1951-1955. During that same period, Royo
Guardia served first as secretary and
then treasurer. The visiting Cuban scientists
were part of a commission formed,
among other objectives, to study and
identify possible routes through which
prehistoric cultures may have reached
Cuba, to seek evidence of the presence
of common Cuban influences in Jamaica,
Puerto Rico and the Virgin Islands, and to
ascertain the spread of Carib influence
and identify the culture found by Columbus
on St. Croix. Welcomed in the Virgin
Islands by Gov. Morris de Castro, they
visited and examined four sites. On St.
Thomas, they judged the Magens Bay site
to be Arawakan culture with a few Igneri
specimens. Administrator Harry E. Taylor
accompanied the visitors on St. Croix,
where they viewed three more sites:
Christiansted environs where they examined
and collected a number of rimsherds
and shell samples; the Salt River midden,
with its French fort earthworks foundation,
where they were able to excavate pottery,
stone, shell and shell bead specimens;
and Estate Richmond, where they viewed
artifacts, including some Igneri pottery,
obtained by the owners from Salt River
and from an Indian site on the estate. According
to Figueredo, the “importance of
this work (by the Cubans) is not due solely
to its reports of archaeological remains,
however; it is also a historical document,
offering us interesting information on the
state of affairs, beliefs, and personalities
of its time. The Cubans came during one
of our minor dark ages — when archaeological
work had come to a near standstill,
and the history and historiography of the
(Virgin Islands) ... were in abject abandon.”
Katheryne Brooks Kay-Willock, archaeologist with the Conservation and
Cultural Affairs Department, studies the remains of what is believed to be
1,000-year-old skeleton located at Hull Bay beach in 1974 in St. Thomas,
at a proposed condominium project.
Photo courtesy of
THE VIRGIN ISLANDS,
OUR NEW POSSESSIONS
The “ribbon-sealed” bottle, a P.F.
Heering Company “Heering’s
Cherry Cordial” bottle produced
in the period 1835-1850, was
recovered from the harbor in
St. Thomas, where many such
items have been discarded over
the centuries. The Schenectady
(New York) Gazette of Jan. 7,
1981, reported an upcoming
lecture presentation to the National
Bottle Museum Society in
Ballston Spa, N.Y., on the “Buried
Treasures of St. Thomas.”
The newspaper reported that
lecturer Gary T. Stephenson “recently
returned from the Virgin
Islands where he provided consulting
services to an individual
who has unearthed over 3,000
bottles from an old community
dump. The collection dates
back to 1700. ‘I have never
seen so many bottles come out
of one dig,’ said Stephenson,
vice president of the museum
society. Bottles in the collection
come from Paris, London, Martinique,
Canada, Germany and
the U.S.A. They graphically illustrate
the history of St. Thomas,
showing evidence of worldwide
trade and commerce. The St.
Thomas collection is considered
to be the fifth largest collection
in the U.S.”
Photo courtesy of
VAGN PETERSEN’S DANISH BOTTLES
Tuesday, December 13, 2016 The Virgin Islands Daily News 11
CENTENNIAL SCENE
Fort Salé (formerly Fort
Flamand) at the entrance
to Salt River in St. Croix is
the oldest intact colonial
earthwork fort under
United States authority. It
is also believed to be the
only extant earthwork fort
in the entire Caribbean.
Begun circa 1640 by the
English, it was occupied in
turn by the Dutch, then the
French. The fortifications
lie directly adjacent to the
Columbus landing site and
an ancient Taino ceremonial
ball court and plaza. All
these features are part of
the National Park System’s
Salt River Bay National
Historic Park and Ecological
Preserve, co-owned by and
managed under an agreement
with the government
of the Virgin Islands.
The Daily News of May 13,
1938, reported the 1934 discovery
by Alvarez Julien of skeletal
remains and pottery sherds on
Water Island. Based upon the
direct association of shells,
stone implements and pottery
in the area, Julien suspected
the remains to be Carib Indian
in origin. In 1936 he brought
news of his find to the attention
of J.C. Trevor, who was
conducting field work on the
Negroes of the Eastern Caribbean
under his fellowship in
anthropology at Northwestern
University. The skeletal remains
had been re-interred and while
all could not be relocated,
those that could were donated
by Julien to Oxford University
for further identification and
study. Provisionally they were
classified as pre-Columbian
with further characteristics
to be defined and confirmed.
The images above and others
appeared in the article “Skeletal
Remains from the Virgin
Islands” in the April 1938 issue
of “Man, A Monthly Record of
Anthropological Science,” published
by the Royal Anthropological
Institute of Great Britain
and Ireland (Vol. XXXVIII, 47-65).
According to The Daily News,
Virgin Islands “Governor Lawrence
Cramer gave permission
for the material to be excavated
and sent to England.”
An old scale found on St. John and donated to Cruz Bay Museum on July
8, 1974, by Russel Dennem.
Photo courtesy of ARCHAEOLOGICAL RECONNAISSANCE OF THE ISLAND OF ST. JOHN,
UNITED STATES VIRGIN ISLANDS, PLATE VII
Petroglyphs at Congo Cay, north of Cruz Bay off St. John.
About the Images: Images provided by the Territorial Archives of the Government of the Virgin Islands, a unit of the Division of Libraries, Archives and Museums of the Department of Planning and
Natural Resources. Additional images sourced as otherwise noted. For more information on the holdings of the Territorial Archives, contact Territorial Archivist Susan Lugo at 340-774-0630, or email
susan.lugo@dpnr.vi.gov.
22 The Virgin Islands Daily News Tuesday, December 13, 2016
Founded Aug. 1, 1930, by J. Antonio Jarvis and Ariel Melchior Sr.
Published by Daily News Publishing Co., Inc.
Archie Nahigian, President
Gerry Yandel, Executive Editor
Ken E. Ryan, Production Director
Onneka Challenger, Circulation Director
What’s the speed limit
on Magens Bay Road?
Is it how fast you can run?
What do the new Magen Bay
signs mean?
Public Works installed four of
these signs on Magens Bay Road in
November in response to the speeding
problem.
According to the Merriam-Webster
dictionary the abbreviation of
miles per hour is “mph” and there
should be a number in front of mph
designating the speed. On these
signs, the number is omitted, so
86
A Pulitzer Prize-Winning Newspaper
ST. CROIX ST. JOHN ST. THOMAS TORTOLA
EDITORIAL BOARD
J. Lowe Davis, Editor At Large
Lisa Jamil, Advertising Director
Juanita Young, Controller
Lori Emery
drivers have no idea what the speed
limit is.
St. Thomas is an international
destination, and we have contemporary
street signs that use symbols
for walkers, joggers, bicycles etc. I
know we can do better in the signage
department on Magens Bay Road.
— Lori Emery, St. Thomas
◆ See Your Views In Print ◆
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general interest, and we especially welcome commentary on issues affecting
the Virgin Islands and its people, culture, businesses and government.
Send Letters, Essays, Halos and Pitchforks, Cartoons
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guest editorials are those of the particular author or artist.
OPINIONS
Where will Trump venture
for his first state visit?
Barbara Streisand and Lena Dunham
may be some of the higher profile
Trumpfugees leaving the country and
heading to Justin Trudeau’s Canada.
What is less certain is if a President
Donald Trump will make Ottawa his
first foreign port of call — a longstanding
presidential and foreign policy
tradition.
Post-election, Trudeau quickly
called to congratulate PEOTUS Trump
on his victory and the Canadian tweeted,
“(W)e agreed to meet soon to keep
building the Canada-US relationship.”
Trump may want to use the highvisibility
first trip to do something
other than affirm tradition and reflect
the importance and strength of U.S.-
Canadian ties. He may want to make
a grand strategy statement, letting the
world know that he is going to shakeup
the global status quo.
Calls to Taiwan, support for the Philippines
President Rodrigo Duterte and
meeting with Japan’s Shinzo Abe have
already shaken up the foreign policy
establishment’s rules for protocol, as
well as approaches to human rights and
global power relations. All this wellbefore
Trump has even been sworn-in.
Once in office, Ronald Reagan began
the tradition of new U.S. presidents
making Canada the first foreign presidential
visit. George W. Bush notably
broke from this tradition, making his
first stop Mexico, a country he knew
well. He also hoped his trip and Cinco
de Mayo parties on the White House
lawn would attract Latino voters to the
Republican Party.
Trump has already been to Mexico,
met with President Pena Nieto, gotten
a great presidential photo-op and
made his talking points. It is unlikely
he will be heading south of the border
first.
Making a splash abroad will likely
require a large rally — similar or bigger
than candidate Barack Obama’s visit to
Berlin in the summer of 2008 — and
may be chosen based on the right mix
of pomp, circumstance, strategy and
significance.
If two big border nations are knocked
out of the running for the primary reception
of America’s new head of state,
where might he go first?
There are any number of early supporters
in other countries who could be
rewarded and elevated by a presidential
visit. The scramble to send invitations
to Trump Tower has already begun.
U.K. Prime Minister Theresa May
is considering an invitation on behalf
of Queen Elizabeth II. Trump’s friendship
with and preference for Brexit
leader Nigel Farage as Britain’s next
diplomatic envoy will require Trump to
balance Buckingham Palace pageantry,
the “special relationship,” Brexit forces
and a potentially restive urban populace
before deciding to touch down in London
Town.
Numerous foreign leaders supported
Trump’s candidacy early on, mostly
opposition politicians. A few, however,
are running countries. They include
Hungary’s Viktor Orban, North Korea’s
Kim Jong Un, Zimbabwe’s Robert
Mugabe and, of course, Russia’s
Vladimir Putin. Rewarding them with
an American inaugural visit would be
revolutionary and could set in motion
dramatic changes in how America’s
global relations, alliances and power
balancing is perceived and conducted.
Big, bold, groundbreaking unprecedented
moves were the hallmark of
Trump’s campaign: Is there a reason
to believe he would take a different approach
to governing? Trump’s brand of
politics is proudly unconventional —
from his brand management business
to his Fifth Avenue transition tower to
his tweet-centric campaign.
Where will he go? Japan, Russia,
China, Italy, Germany, France — maybe
even India, Australia or Argentina?
Tipping favor toward any of the G8
member countries other than Canada
for a “first visit” would create both
new foreign policy opportunities and
challenges.
To avoid granting any nation the
favor of a first foray, however, he may
decide never to leave the country at all,
requiring all foreign leaders visit him at
Trump Tower, Mar-a-Lago, the Trump
National Golf Club Bedminster … or
maybe even the White House.
— Markos Kounalakis is a
senior fellow at Central European
University and visiting fellow at the
Hoover Institution. Contact him at
markos@stanford.edu
Employers should not impose
religious views on employees
In my opinion, Philadelphia Archbishop
Charles Chaput is wrong in
his view that religious liberty in the
United States is under attack (Philadelphia
Inquirer and Philly.com, Dec.
8, 2016).
Religious institutions are free to
believe and preach whatever they
want. I think that what they are not
free to do is impose those beliefs on
their employees.
For example, a Catholic-affiliated
Markos Kounalakis
Richard Carroll
organization may believe that contraception
is immoral, but I don’t think
that organization should be allowed
to block its female employees, who
may or may not be Catholic, from
access to contraception through its
medical insurance plans.
I worked for a Catholic organization
(the Knights of Columbus) for
30 years. Its 600 employees — most
of whom were non-Catholic women
— had access to contraceptive coverage
through the employer-provided
health plan.
Freedom of religion means freedom
not to have your employer’s
religious views imposed on you.
— Richard Carroll, a part-time
St. Thomas resident, is the former
Associate General Counsel of the
Knights of Columbus
Tuesday, December 13, 2016 • Page 24
Lighted Boat Parade
Boats festooned for Christmas wow spectators during the Lighted Boat Parade on
Saturday along the Christiansted boardwalk on St. Croix. Above, the crew on Time
Out waves to the crowd. Left, Santa makes an appearance. Top left, Live the Dash
delivers a message of peace.
Winning entries were: Sail Boats, first place, Time Out; Power Catamarans, first
place, Adventure, second place, Gemini/Century; Power Boats Under 25 Feet, first
place, Saorise, second, Checkmate; Power Boats 26-32 Feet, first place, Firefly;
Power Boats 33-39 Feet, first place, Benita, second place, Golden Eagle; Power
Boats 40 Feet, first place, Irie Feelin, second place, Milemark/Rotary; Power Boats
41+ Feet, first place, Reliance (SCUBA), second place, Renewed Interest; Best
Lights, a tie between Living the Dream and the U.S. Coast Guard; Best Decorations,
La Vie En Rose; Best Animation, Cat Chi; Best Music, Turn & Burn; Best
Creativity, Live the Dash; and Best Boat Overall, Heineken Barge.
Daily News photos by ROB JONES
Send us your Island Life
news, events and photos
The Daily News is expanding
its Island Life section.
Do you have an event, a celebration, or
a milestone, including a birth, graduation,
wedding, retirement, award, honor or military
accomplishment you’d like to share?
Maybe you have a photo from around our
islands you think our readers would like to
see, whether it’s a beautiful sunset, a big
catch or people just having fun in the sun.
Help us celebrate our community
by sending us your contributions
to island-life@dailynews.vi.
The possibilities are endless.
Tribute to a V.I. leader
The community paid tribute to the late Mulo Alwani
on Friday with a memorial service gathering at
the Mark C. Marin Center at Antilles School on St.
Thomas. Alwani, the president of the India Association
of the Virgin Islands and a longtime community
leader, died on Nov. 19 in Miami after a bout with
cancer. He was 79.
Alwani, the former owner of Artistic Jewelers in
Charlotte Amalie, had served on the Schneider
Medical Center governing board and was a leader in
the Rotary and the Masonic Lodge. He was remembered
as the “godfather of the Indian community”
as well as a friend and a mentor to many.
Tuesday, December 13, 2016 ISLAND LIFE
The Virgin Islands Daily News 25
Ulla F. Muller students attend a pep rally to roll out the school’s Positive Behavior
Support and Interventions initiative on Nov. 30 on St. Thomas.
Ulla F. Muller students
pledge good behavior
Ulla F. Muller Elementary School
rolled out its Panther PRIDE Positive
Behavior Support and Interventions
(PBIS) initiative at a pep rally at the
school on Nov. 30. The fun, high-energy
event laid the groundwork to teach
students the behaviors that make up a
positive school environment.
Administrators taught the students
the core values of the school through
PRIDE: P — positive behaviors, R –
respect, I – individual responsibility,
D – determination and E – excellence.
Students held signs depicting the values
while Muller cheerleaders and the
Boys & Girls Club performed to rally
around the cause.
St. Thomas-St. John PBIS district
coach Darian Torrice-Hairston, who is
assigned to Ulla F. Muller Elementary,
praised the event. “As the PBIS district
coach for Ulla F. Muller Elementary
School, I have certainly caught
the Panther PRIDE! It was evident that
the administration, staff and students
exhibited their Positive Behavior, Respect,
Individual Responsibility, Determination
and Excellence. PBIS and its
strategies are a priority at Muller and
they are working hard to implement the
program as it fits their school,” she said
Following the rally, teachers will
continue to instill the Panther PRIDE
principles in students on a daily basis
as well as demonstrate what Panther
PRIDE looks in each area of the
school. School staff will integrate the
Panther PRIDE language into daily
routines to encourage students to strive
for excellence.
The PBIS initiative is rooted in evidence-based
practices meant to increase
behavioral and academic outcomes by
improving school climate, preventing
problematic behavior, increasing learning
time and promoting positive social
skills. Up to five members from each
school were selected to attend training
facilitated by PBIS coaches from the
state and district. School representatives
were tasked with producing positive behavior
values unique to their institutions
and introduce them to teachers and students.
The goal of the PBIS initiative is
to focus on what the students do right,
rather than on what they do wrong to
help encourage the repetition of good
behavior.
As Muller Elementary continues
to support its students through PBIS,
additional phases of the initiative will
be introduced, such as a positive reward
system as well as ceremonies to
celebrate student and staff success.
With the help of the district coach,
Muller’s in-house PBIS task force
will guide the PBIS initiative to support
the school.
Central High School students that participated in this year’s “Close Up Washington” trip to Washington, D.C., include
Ethaliah Henry, Jenna Malcomb, Nathan McGregor, Destiny Stout, Martisha Charles, Pellis Leonard, Franchel Rodriguez,
Jayla Norman, Khaiel James and N’Quelle Golden. History teacher Ericka Hansen is the Close Up adviser.
Students get ‘close up’ with democracy
Students enrolled in the St. Croix
Central High School Close Up organization
recently returned from the nation’s
capital where they attended the
Close Up Washington flagship program.
The group of 11 traveled Nov.
13-19 and joined with other Close Up
high school chapters from across the
country to learn about the American
democratic process.
Central High School history teacher
and Close Up advisor Ericka Hansen
took 10 students on the annual trip,
which gives high school students and
educators an inside look at their democracy
in action. Using the nation’s capital
as their living classroom, program participants
get a “close up” view of government
processes and places that make
the district unique and functional.
Students visited the Washington
Monument, Martin Luther King Memorial,
the Smithsonian, U.S. Capitol,
Arlington National Cemetery, the
White House and more. Students also
participated in political discussions
and met with members of Congress.
The program provided social activities
for the students in the evening.
Founded in 1971, the Close Up organization
has provided more than 825,000
students with educational tours about
government and the political processes.
Tuesday, December 13, 2016 ISLAND LIFE
The Virgin Islands Daily News 27
Club gets facelift
Crowley Caribbean Services went to the Oswald Harris Court neighborhood on St. Thomas recently on behalf
of the Crowley Cares Foundation and spent time sprucing up the Boys and Girls Club. Crowley personnel from
St. Thomas, St. Croix, and the states helped to clean up and paint the facility and donated furniture for the
children to use for their arts and craft programs. The Crowley Cares Foundation allows employees to make
monthly contributions, which the company matches, to nonprofit groups in the communities Crowley serves
as a cargo carrier. Crowley also delivered a check to help the club purchase a laptop computer. In addition to
the contributions, employees donate their time to community groups like the Boys and Girls Club.
Students’ cultural calendar
also marks V.I. centennial
The Virgin Islands Cultural Contributors
2017 calendar is available at St.
Croix Educational Complex for $12.
The students of the St. Croix
Educational Complex are working
on a collaborative project to
celebrate the upcoming centennial
anniversary of the U.S. Virgin
Islands.
Called the Virgin Islands Cultural
Contributors Calendar Creation
and Theatrical Performance,
the project consists of a 12-month
calendar featuring 12 V.I. cultural
contributors, accompanied by live
interviews.
Visual arts, drama and speech
teachers Danica David and Sayeeda
Carter are the directors of
the project and are using students
from their classes and the school’s
Art Club to bring the vision to life.
Art Club students will use photographs
of selected participants
to create mixed media portraits
for the calendar. Simultaneously,
Carter’s drama and speech students
will conduct interviews
with the participants that will be
used to create brief write-ups to
go along with the graphics.
The cultural contributors were
selected based on being natives of
the Virgin Islands or residents for
at least 15 years and also active
contributors to the development
of Virgin Islands’ culture through
fine arts, education, literature,
and history.
The students will formally present
the finished project at a reception
that will feature an art exhibition
and theatrical performances
embracing V.I. culture and honoring
the contributors. The event
will take place at St. Croix Educational
Complex in January. Calendars
are available at the school in
December for $12 each.
The educator duo, David and
Carter, developed the project so
Virgin Islands students could
learn about the individuals in
their community that aid in the
advancement of local culture. The
calendar is expected to be produced
annually.
The project is sponsored by Rotary
Club of St. Croix, Mid Isle
and the Community Foundation of
the Virgin Islands.
Magazine reprint
celebrates centennial
To celebrate the centennial of the
transfer of government from Denmark
to the U.S., the St. Thomas-St.
John Friends of Denmark Society
announces the facsimile publication
of a commemorative magazine
printed by the society in 1967.
The title is “50 Years: St. Thomas
Friends of Denmark Society.”
The chairperson of the magazine
committee was Eldra L.M.
Shulterbrandt. Articles by Omar
Brown, Fred Gjessing, Bill La-
Motta, Francesca Greve, Gertrude
Dudley, Rabbi Sasso and Enid Baa
are featured in the magazine. Eldra
Schulterbrandt wrote “Quo Vadis”
and Gov. Ralph Paiewonsky’s stirring
“What is Virgin Islander,” is
printed in full. The editor was Carlos
Dowling, with design and layout by
Ira Smith. Even the advertisements
provide a peek at the islands’ past.
The restoration of the initial magazine,
including the mixed coloring of
the pages, was made possible through
digitalization by Bill and Frannie
Newbold of Island Business Graphics.
It’s an accurate reproduction of the
original.
The magazines are $25 and are
available at the V.I. Children’s Museum,
Frenchtown Museum and My
Brother’s Workshop Bakery on Back
Street downtown and in Red Hook
at Chelsea Drug Store and Sandra’s
Secretarial Service — Lock and
Blade. Additional sites will be announced.
Members of the society will
also have copies to sell.

30 The Virgin Islands Daily News ISLAND LIFE
Tuesday, December 13, 2016
St. Croix
Arthur A. Richards Jr. High
School Music Department presents
Christmas Concert 2016 at
6:30 p.m. Wednesday in the school’s
auditorium, featuring the Concert
Band, Choir, Steel Band and cheerleaders.
The Youth Band Dance Ensemble
of St. Patrick’s School will
make a special guest appearance.
•••
John H. Woodson Junior High
School invites parents, guardians,
and the St. Croix community to its
2016 Christmas Concert, featuring
the Concert Band and the Touch
of Love Chorale in the school’s auditorium
on Thursday at 7 p.m. The
December PTA meeting will precede
the concert at 5:30 p.m.
•••
Torah scribe at synagogue
The Hebrew Congregation of St.
Thomas welcomes Sofer Rabbi Druin
from 5 to 7 p.m. this evening. Druin is
in St. Thomas to help the synagogue
maintain its historic Torahs and invites
you to come learn and ask about the
work of the Torah scribe, a 300-yearold
craft. For information email info@
synagogue.vi or call 340-774-4312.
Holiday Happenings
The second annual Holiday Fest
will take place on Friday from 3 p.m.
to midnight at Buddhoe Park, bandstand
and Strand Street in Frederiksted.
Come shop and make it a picture-perfect
day with Santa Claus.
Vendors are welcome. Contact 340-
778-1012, ext. 6200 or 6206 for
more information.
•••
The Tourism Department, in
collaboration with the Frederiksted
Economic Development Association,
presents a Community Holiday
Giveback with Sunset Jazz at Buddhoe
Park on Friday from 5 to 8 p.m.
For more information, go to visitusvi.
com.
St. Thomas
Pistarckle Theater presents
Briefs
AARP meets on Saturday
AARP St. Thomas Chapter 3138
has rescheduled its regular meeting
from Dec. 24 to Saturday at 1:30 p.m.
in the sun room at Schneider Hospital.
The newly elected executive oficers
and board members will be installed.
Beer & Bacon Bacchanal
Worldwide West and Island Vibes
“The Nutcracker” at 7 p.m. Friday
and Saturday and at 2 p.m. on Sunday.
For tickets visit www.pistarckletheater.com
or call 340-775-7877.
•••
Miracle on Main Street celebrates
its 24th year on Friday in
downtown Charlotte Amalie, featuring
musicians, culinary delights and
shopping. For more information, or
to become a sponsor, contact the St.
Thomas-St. John Chamber of Commerce
at 340-776-0100 or email
chamber.vi@gmail.com.
•••
Sea View Nursing Home will
host its annual Christmas Gala on
Dec. 22 at the facility on St. Thomas.
Cocktails begin at 6 p.m. and presentations
will follow at 6:30 p.m.
For more information, please contact
Simone Edwards at 340-777-3303.
Summer Camp invite you to a Beer
& Bacon Bacchanal at The Shops at
Yacht Haven Grande pool on Saturday
from noon to 6 p.m. For more
information on how to participate,
volunteer or become a sponsor,
call 340-626-3729, visit www.
facebook.com/USVIcamp or email
islandvibessummercamp@gmail.
com.
The St. John Singers will perform two holiday concerts with guest soprano
Laura Strickling on Dec. 21 at Nazareth Lutheran Church in Cruz Bay and on
Dec. 23 at Emmaus Moravian Church in Coral Bay.
St. John Singers welcome guest
soprano for holiday concerts
The St. John Singers are celebrating
their 35th anniversary with a
special guest at two holiday concerts
during the week preceding
Christmas.
Soprano Laura Strickling, who has
a home on St. Thomas, will be performing
with the choir at their annual
concerts in Cruz Bay and Coral Bay
on St. John.
Strickling has been described as
possessing “a lexible voice, crystalline
diction, and warm presence” by a
reviewer in the New York Times. She
has received numerous awards for her
performances of opera, classical and
contemporary music.
“We were very lucky to get her,”
said Janice Ballard, who has directed
the St. John Singers for the last ive
years. “She was on St. Thomas and
had only a four-day window between
other engagements to sing with us.”
The singers’ selections will include
carols from around the world, and in
keeping with the tradition, the audience
will be invited to sing along
with the choir on a medley of holiday
songs.
This year the choir will be accompanied
on piano by Arboris de Jesus,
a talented young musician who was
born in Puerto Rico and raised on St.
Thomas. She now studies music at
Lawrence University.
The St. John Singers concerts
will be held on Dec. 21 at Nazareth
Lutheran Church in Cruz Bay,
and on Dec. 23 at Emmaus Moravian
Church in Coral Bay. Both
concerts will begin at 7:30 p.m.
Tickets, which are available at the
door, are $20. Children are admitted
for free.
Ravens-Patriots in AFC showdown Page 34 Alabama, Ohio State lead All-America team Page 33
Virgin Islands Daily News
Sports
Tuesday, December 13, 2016
STX Educational Complex takes
win over P.R.’s Juncos Broncos
V.I. swimmers
take gold at
P.R. Nationals
By DAVID EDOLE
Special to the Daily News
ST. CROIX — The St. Croix Educational
Complex High School’s
tackle football exacted some revenge
for the Virgin Islands,
roughing
up Puerto Rico’s
Juncos Broncos,
20-8, on Saturday
night.
The Barracudas,
behind the
duo of Vernon
Clarke and Cristian
Perez, ran
out to a 14-0 halftime
lead.
Scott Cofiell
Clarke, Complex’s quarterback,
called his own number in scoring on
an 18-yard run. He then handed off to
Perez, the Barricudas’ tailback, who
scampered for a 12-yard score.
The extra points were good by Roland
Richards both rushing, but were
awarded one point each.
“We didn’t know that the National
Federation of High Schools changed
the rules on extra points,” said Educational
Complex head coach Scott
Cofiell. “The new rule is one point
for a rushing and two for passing.”
Complex poured it on in the second
half when defensive end Antonio
See BARRICUDAS, page 35
Photo courtesy SCOTT COFIELL
St. Croix Educational Complex High School quarterback Vernon Clarke, center, hands off to tailback Cristian Perez
during Saturday’s game against the Juncos Broncos at Pista Atletica Municipal de Juncos in Puerto Rico. The
Barricudas went on to take a 20-8 victory over the Broncos.
By BILL KISER
Daily News Sports Editor
Swimmers from two Virgin Islands
swim teams brought home a
combined 49 medals from the Puerto
Rico Short
Course National
Championships,
held Dec. 2-4 at
the San Juan Natatorium.
The St. Thomas
Swim Association
(STSA) team
finished eighth
overall in the Webster Bozzo
combined team
scoring, while the St. Croix Dolphins
(SCD) came in 12th. Puerto Rico’s
Bayamon Swimming Team won the
overall team title.
St. Thomas swimmers won 13
events, finished second in seven
events and third in five others. St.
Croix swimmers won in eight events,
and finished second in eight others
and third in eight events.
St. Croix’s Webster Bozzo led all
the Virgin Islands swimmers with
five gold medals, posting the top
times in the boys 15-16 division in
the 100- and 200-meter backstroke,
100- and 200-meter freestyle, and
the 200-meter individual medley. He
also finished second in the 100-meter
See SWIM, page 35

Tuesday, December 13, 2016 The Virgin Islands Daily News 35
BARRICUDAS
CONTINUED FROM PAGE 36
Polanco picked up a fumble and returned
it for score to push the Barricudas’
lead to 20-0.
“Our defense played very well,”
Cofiell said. “Aderemi Flores had
an interception and had a couple of
returns of 40 yards. Lejoni Williams
was all over the field and led us in
tackles.”
The Broncos added a late touchdown
from Diego Luna and twopoint
conversion from Hernan Velez
for the final score.
“I was playing all my guys at that
point,” Cofiell said. “I wanted to give
everyone the experience of playing in
Puerto Rico.”
After the game, the Broncos set up
a meet-and-greet between both team
and an innovative idea came out of it.
“They took care of us all weekend,”
Cofiell said. “They gave us a
place to stay and ground transportation.
They even took us sightseeing of
old San Juan before being dropped at
the airport.
“We invited them to come to St.
Croix and play us during the Virgin
Islands-Puerto Rico Friendship
weekend; hopefully it could be a
yearly thing. Either they come one
year or we go, this was a positive experience
for us.”
“This was an amazing event,”
Juncos head coach Manuel Santiago
said. “We were very happy to host
them and we enjoyed them, too. This
was an excellent opportunity to open
our relationship and we are working
on coming to St. Croix in October.”
St. Thomas schools Charlotte
Amalie and Eudora Kean, the 2016
St. Thomas-St. John IAA champs,
Photo courtesy SCOTT COFIELL
The players and coaches from the St. Croix Educational Complex and Juncos Broncos football teams gather at midfield for a postgame photo after the
Barricudas’ 20-8 win over the Broncos on Saturday at Pista Atletica Municipal de Juncos in Puerto Rico.
played teams from Puerto Rico last
month, losing to the Dorado Spartans
and University Garden Dolphins, respectively,
in games played at Lionel
Roberts Stadium.
“I think we should have a combined
league with Puerto Rico,” Cofiell
said. “We play one home and one
away every year. Look, our ticket cost
$150, that’s not much more than flying
to St. Thomas. It could be done.
But before we approach Puerto Rico,
we would need a unified league between
St. Thomas and St. Croix
agreeing on stuff to make it happen.
Then we could move on to Puerto
Rico, They are not that far away.
“They are more Puerto Rican teams
than Virgin Islands teams. A mixed
schedule will have to be created with
a Caribbean champion between the
winners of each league. People are really
interested in playing in football. If
we’re going to grow, we need to play
good teams to get better and Puerto
Rico has been playing a while.”
The Puerto Rico High School Football
League is presently comprised of
seven teams — Antilles High School,
Baldrich Comets, Parque Central
Bluewaves, Parkville Steelers, Juncos
Broncos, Dorado Spartans and
the University Gardens Dolphins.
SWIM
CONTINUED FROM PAGE 36
individual medley and 50-meter
backstroke.
Mary Killman led St. Thomas
with four gold medals, winning in
the girls 19-under division in the 50-,
100- and 200-meter backstroke, and
the 200-meter individual medley. She
also finished third in the 50-meter
freestyle.
Killman also set meet records in
two events, with her time of 30.09
seconds in the 50 backstroke shattering
the old record by 1.24 seconds,
and her time of 1 minute, 5.08 seconds
in the 100 backstroke breaking
a 14-year-old record by 1.14 seconds.
St. Thomas’ Audrey Moore and
Ky Odlum, and St. Croix’s Matthew
Mays won three events each.
Moore took gold in the girls 11-12
division’s 50- and 100-meter freestyle
events, and teamed with Carter
Maltby, Casey Vanderwall and Ana
Pia Brunt to take the 200-meter freestyle
relay. She also took seconds in
the 200-meter freestyle and 200-meter
individual medley, and teamed
with Vanderwall, Maltby and Brunt
to take second in the 200-meter medley
relay. Moore also finished third
in both the 400-meter freestyle and
100-meter individual medley.
Odlum won in the boys 13-14
division in the 50-meter freestyle,
50-meter backstroke and 100-meter
butterfly. He also finished second in
the 50-meter butterfly, and third in
the 100-meter individual medley.
Mays won in the boys 17-18 division
in the 100-meter individual
medley, 200-meter backstroke and
200-meter individual medley. He
also finished second in the 200-meter
freestyle and 200-meter butterfly, and
third in the 100-meter freestyle.
Other gold medalists were St.
Thomas’ Max Wilson (boys 11-12
200-meter backstroke), and STSA’s
girls 9-10 200-meter freestyle and
200-meter medley relay teams, both
composed of Gabriela Brunt, Fairley
Maltby, Alex Otwell and Lindsay
Barr.
"
IMAGES-007-HOUSE_OVERSIGHT_024025.txt,"OTHER INVESTMENT PROFESSIONALS

Kathy LaPorte, (52), Venture Partner, is an angel investor in the Digital Health space focusing
on evaluating and mentoring start-ups developing digital technology solutions for healthcare
consumers, providers, payers and the pharmaceutical/medical device industries. Kathy is
affiliated with Health Tech Capital and is a Venture Partner with New Leaf, collaborating on
sourcing of opportunities with an emphasis on the Information Convergence sector. Kathy was
one of the founders of New Leaf upon its spin out from the Sprout Group in 2005. Kathy joined
the Sprout Group in 1993 and became a General Partner in 1994. Between 1987 and 1993, she
was a Principal at Asset Management Company, a venture capital firm focused on early stage
investments. Kathy received an M.B.A. from Stanford University Graduate School of Business
(Arjay Miller Scholar), and a B.S., summa cum laude, Phi Beta Kappa from Yale University.

Mark Charest, Ph.D., (36), Portfolio Manager, joined New Leaf in 2012. Previously, Mark was
an Associate and Kauffman Fellow at Panorama Capital (2010-2012) focused on life sciences
investments. Mark previously worked as a Consultant at ZS Associates (2009) and as an
Associate at Great Point Partners (2007-2009), a healthcare-focused public and private equity
investment firm. Prior to that, Mark held an operating role as a Medicinal Chemistry Lab
Manager at Novartis Institutes for BioMedical Research (2004-2007). Mark received his Ph.D. in
Chemistry and Chemical Biology from Harvard University as a National Science Foundation
Graduate Research Fellow.

Mike Dybbs, Ph.D., (39), Principal, joined New Leaf in 2009 and was promoted to Principal in
2012. Mike is currently on the boards of directors of Advanced Cellular Diagnostics and
Versartis. Prior to joining New Leaf, Mike was a Principal at the Boston Consulting Group
(BCG) where he was a core member of their Health Care practice. Mike graduated magna cum
laude from Harvard University with an AB in biochemical sciences and received his Ph.D. in
molecular biology and genetics from UC Berkeley, where he was awarded a Howard Hughes
Medical Institute fellowship. His research had been published in peer-reviewed journals,
including Neuron, Science and Nature.

Eric Kim, (28), Associate, joined New Leaf in December 2013. From 2011 through 2013, Eric was
a Private Equity Associate at Francisco Partners, where he focused on diligence and company
oversight efforts on the firm’s healthcare information technology portfolio. Prior to joining
Francisco Partners, Eric worked for three years at McKinsey & Company as a Senior Business
Analyst in their Corporate Finance Practice. Eric received his dual B.A. in Mathematical
Methods in the Social Sciences and Economics from Northwestern University.

Isaac Manke, Ph.D., (37), Portfolio Manager, joined New Leaf in 2009 as an Associate and was
promoted to Public Investment Director in 2012. Prior to joining New Leaf, Isaac was an
Associate in the Global Biotechnology Equity Research group at Sanford C. Bernstein.
Previously, Isaac worked as an Associate in the Biotechnology Equity Research group at
Deutsche Bank and was a Senior Analyst at Health Advances, a biopharmaceutical and medical
device strategy consulting firm. Isaac received a B.A. in Biology and a B.A. in Chemistry at
Minnesota State University (Moorhead), and a Ph.D. in Biophysical Chemistry and Molecular
Structure at the Massachusetts Institute of Technology (MIT). Isaac’s discoveries led to several
publications in top journals, including Science and Cell, and were selected by Science as one of

14 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024025
"
IMAGES-009-HOUSE_OVERSIGHT_026558.txt,"Interestingly, the word Khamenei employs against the potential unveiling of women -

- fitna -- is the same word used to describe the opposition Green Movement that took to
the streets in the summer of 2009 to protest President Mahmoud Ahmadinejad's
contested reelection. In other words, women's hair is itself seen as seditious and
counterrevolutionary. Even so-called liberal politicians in the Islamic Republic have long
fixated on this issue. Abolhassan Bani-Sadr, Iran's first post-revolutionary president, who
has spent the past three decades exiled in France, reportedly once asserted that women's
hair has been scientifically proven to emit sexually enticing rays. (An Iranian satirist
responded with a cartoon showing a man inadvertently aroused while eating lunch at his
friend's home; the culprit turned out to be an errant strand of his friend's wife's hair in

the ghormeh sabzi stew, an Iranian national dish.)

OVER THE LAST TWO DECADES, the women of Iran's younger generation have
increasingly pushed back and loosened their veils, but any discussion of abolishing the veil
altogether is not tolerated by Khamenei. In addition to opposition toward the United
States and Israel, the hijab is often considered one of the Islamic Republic's three
remaining ideological pillars. ""For Islamic Republic officials, the hijab has vast symbolic
importance; it is what holds up the dam, keeping all of Iranians’ other demands for social
freedoms at bay,"" says Azadeh Moaveni, an Iranian-American author. ""Relax on the
hijab, they think, and all hell will break loose; next people will want to swill beer on the

street and read uncensored novels. They think of it as a gateway freedom.""

Despite Khamenei's assertion that the hijab prevents men from straying, governmental
policies in fact encourage the opposite. For example, to help accommodate the apparently
incorrigibly wandering libido of the Iranian male, the country’s parliament -- composed of
Khamenei loyalists -- has supported sharia-sanctioned ""temporary marriages” (known in
Persian as sigheh) allowing men as many sexual partners as they want. The marriage
contract can last as little as a few minutes, and it doesn't need to be officially registered.
The man can abruptly end the sigheh when he likes, but initiating divorce is far more
difficult for women. Indeed, women who stray from the sanctity of their marriages do so at

grave risk -- dozens have been stoned to death in Iran for adultery.

HOUSE_OVERSIGHT_026558
"
IMAGES-003-HOUSE_OVERSIGHT_015246.txt,"Electricity for Life,” the proprietor is saying, “They killed one of my
associates.”

In the auditorium, William Lyne, a researcher on free energy devices
for 50 years, tells the audience, “Il know a man who’ s in mind
control—and they’ ve used it on him and his father—they use a virtual
reality type of technology that’ s projected to that person, transmitted to
them so that they see images that aren’ t there, but what they want to do
is terrify them and make them think they’ re seeing these things, except
they’ re intelligent people and they know that they’ re not real images,
they just want to know how they’ re receiving those images. If they want
you to see something, they can transmit it to you.

“They can do it for a whole area. And the place where this person
lives, they’ re all shutting down at 10 0’ clock at night. Everybody in that
whole part of town are actually going to bed at the same time. It’ s like
they’ ve got the whole area under control. And it’ s within eyeshot of Los
Alamos Labs. The dirty part of the labs where they do this kind of stuff. |
say dirty because there’ s coerced black projects being done out of
there.”

As for Lyne’ s own safety in the face of promulgating free energy,

he says, “I’ m encouraged lately because there’ s safety in numbers. Too

HOUSE_OVERSIGHT_015246
"
IMAGES-011-HOUSE_OVERSIGHT_030680.txt,"Steven Pfeiffer
Associate Director, Development

Independent Filmmaker Project

Made in NY Media Center by IFP
30 John Street

Brooklyn, NY 11201
as

From: Peggy Siegal <a>
Date: Thursday, November 16, 2017 at 3:31 PM

To: Jeffrey Epstein <jeevacation@gmail.com>, Steven Pfeiffer <>, Rich Kahn
_ Joana Vicente [a

Ce: Rebecca Dresche' EEE, ils Walker
Subject: Re: 2017 IFP Gotham Awards. Chairs from Jeffrey Epstein OK.

Jeffrey; every year | beg you to come and every year you don't. | will sit with you this year. If you bail, please let me
know ASAP. You will have four seats with me. Xoxo peggy

Sent from my BlackBerry - the most secure mobile device

From: jeevacation@gmail.com
Sent: November 16, 2017 3:26 PM

Subject: Re: 2017 IFP Gotham Awards

happy to buy your 10k of chairs and will need me plus 3 seats.

On Thu, Nov 16, 2017 at 1:36 PM, Steven Pfeiffer it wrote:

Hello Jeffrey —

| hope all is well with you. As per Peggy Siegal’s office, | have included here the invitation to the IFP Gotham Awards
ceremony, which will be held on Monday, November 27 at Cipriani Wall Street in New York City.

This year’s ceremony is going to be another successful event. We couldn’t be more thrilled with this year’s impressive
group of Tributees. The Actress Tribute will go to Nicole Kidman and the Actor Tribute to Dustin Hoffman. The
Director Tribute will be given to Sofia Coppola, with the Cinematographer Tribute going to Ed Lachman. With the
Industry Tribute, we will be honoring Jason Blum, founder of Blumhouse Productions. And we simply couldn’t be more

HOUSE_OVERSIGHT_030680
"
IMAGES-012-HOUSE_OVERSIGHT_033131.txt,"destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033131
"
IMAGES-008-HOUSE_OVERSIGHT_025418.txt,"Sender:

Time: 02/10/19 06:33:28 PM (571545208)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: B2A20CA7-BO070-48BC-96C3-BC783FE32EB2

Message: 3 hours dude@ 90

Sender: i’

Time: 02/10/19 06:33:34 PM (571545214)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: OEFB/65F-FFF1-494A-B8BO

r,
@
r

/EOABOCA8C

Message: I'm wasted

Sender: e:jeeitunes@gmail.com

Time: 02/11/19 08:35:54 AM (571595754)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: EDDCDIE6-D198-4134-BA6C-5BF4CDA65353

Message: Im in ny Thursday Friday and Saturday morning

Sender: e:jeeitunes@gmail.com

Time: 02/11/19 08:36:00 AM (571595760)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: OFFF/7F99-335B-42CD-A7CD-D3FF7F71493B

Message: U?

sender:

Time: 02/11/19 08:36:17 AM (571595777)
Flags: 1060865
Is Read: Yes

Is Invitation: No

Gl
Q
oe)

GUID: DF2B9770-COF9-4C44-BC9F-7E178C6171

Message: All up in air

Sender: e:jeeitunes@gmail.com

Time: 02/11/19 08:36:30 AM (571595790)

HOUSE_OVERSIGHT_025418
"
IMAGES-004-HOUSE_OVERSIGHT_017657.txt,"Page 22 of 78
2007 Utah L. Rev. 861, *891

(1) Disclosure. If the defendant serves a Rule 12.1(a)(2) notice [regarding intent to present an alibi defense], an attorney for the
government must disclose in writing to the defendant or '78 the defendant's attorney:

(A) the name, address, and telephone number of each witness and the address and telephone number of each witness (other than
a victim) that the government intends to rely on to establish the defendant's presence at the scene of the alleged offense; and

(B) each government rebuttal witness to the defendant's alibi defense.

[*892] (2) Time to Disclose. Unless the court directs otherwise, an attorney for the government must give its Rule 12.1(b)(1)
disclosure within 10 days after the defendant serves notice of an intended alibi defense under Rule 12.1(a)(2), but no later than
10 days before trial.

(c) Continuing Duty to Disclose. Both an attorney for the government and the defendant must promptly disclose in writing to
the other party the name of each additional witness, and the address and telephone number of each additional witness (other
than a victim) if:

(1) the disclosing party learns of the witness before or during trial; and

(2) the witness should have been disclosed under Rule 12.1(a) or (b) if the disclosing party had known of the witness earlier.
179

In addition, I proposed making a similar change to Rule 12.3 ""regarding the address and telephone number of victims who will

be used to disprove a public-authority defense."" 18°

The Advisory Committee proposed more limited protection for victims' addresses and telephone numbers:
(b) Disclosing Government Witnesses.
(1) Disclosure.

(A) In general. If the defendant serves a Rule 12.1(a)(2) notice, an attorney for the government must disclose in writing to the
defendant or the defendant's attorney:

(i) (A) the name, address, and telephone number of each witness and the address and telephone number of each witness (other
than a victim) that the government intends to rely on to establish the defendant's presence at the scene of the alleged offense;
and

(i1) (B) each governmental rebuttal witness to the defendant's alibi defense.

(B) Victim's Address and Telephone Number. If the government intends to rely on a victim's testtmony to establish the
defendant's presence at the scene of the alleged offense and the defendant establishes a need for the victim's address and
telephone number, the court may:

(i) order the government to provide the information in writing to the defendant or the defendant's attorney; or

[*893] (i) fashion a reasonable procedure that allows the preparation of the defense and also protects the victim's interests.

(c) Continuing Duty to Disclose.

178 The excision of the phrase ""the defendant or"" was not in my previous proposal. See Cassell, Proposed Amendments, supra note 4, at 872.
It is included here for reasons discussed infra at note 190 and accompanying text.

'9 Cassell, Proposed Amendments, supra note 4, at 873.

180 Tq,

DAVID SCHOEN

HOUSE_OVERSIGHT_017657
"
TEXT-001-HOUSE_OVERSIGHT_022894.txt,"﻿	It’s an absurdly vast house, among the largest in Manhattan, but the dining room is windowless, creating a hermetic or stop-time sense, broken only by the household staff ferrying in time-of-day-appropriate foods and beverages. 
     In sweatshirt, draw-string pants, palm beach slippers, and half glasses, Jeffrey Epstein sits at the head of the table. He spends most of his day in the dining room in front of a laptop and beside a row of reading glasses (there are a lot of them in case, apparently, he misplaces a pair, but being quite meticulous he never does) advising or instructing a startling collection of the rich and powerful, who are slotted in on an hourly basis. 
     The apartness of Epstein’s dining room might seem to offer some buffer for a super rich man who attends to even more fabulously rich men (and the occasional extremely rich woman). But with the paparazzi often posted near by, the outside world is dangerously close too. Once I arrived for a visit and found several police cars blocking the street and thought the worst—they’d come for Jeffrey. But it was a security detail for a controversial head of state who was visiting him.
     His subject, on this morning in early November during a set of interviews he’s agreed to have with me about his life and views, is “hyper wealth.” His subject is always wealth—how capital should react to the given global political, economic, and cultural moment. The faux-baronial quality of the dining room is disturbed by an ever-present white board, where he scribbles calculations and notes, conducting the world’s most rarified economics class, often attended by many of the world’s finance ministers and foremost economists. 
     His stock in trade is not precisely the making of money, but the issues that arise when money, at a heretofore unimaginable rate, makes itself, altering many basic economic, social, and personal calculations. He recounts a dinner he had two nights before. The scene is, like much of what he does, a conspiracy theorist’s fantasy—the six men at this dinner, all technology entrepreneurs, representing, together, several hundred billion dollars and now trying to figure out how to use it to shape the world to their liking. 
     “In the past, only governments had this kind of money, money of a reality altering scale,” says Epstein in a chipper and smoothed-out Brooklynese. “In fact, it used to be that the rich, reaching a certain point of philanthropy, merely hoped to help make the world a better place, now they want to change the world. Rockefeller and Carnegie were, as examples of social-engineering philanthropy, unique. They alone had such resources and will. Now you have legions of people who have to give away vastly larger fortunes than Rockefeller or Carnegie had at their disposal, or might even have imagined. 
     “Except that it’s actually hard to give away this kind of wealth, without unintended consequences that can cause more problems than you’re solving.” 
     Epstein’s long-time business thesis is that the rich know very little about money. They may know about their own businesses, but the great sums that are the result are ultimately an afterthought and demand an entirely different sort of intellectual discipline. The Forbes 400, says Epstein, not immune to an amount of wonder, increased their wealth by $500 billion last year, meaning, in effect, that on average every Forbes-list billionaire makes more than another billion every year. And, points out the 62-year-old Epstein, they will almost all be dead in 40 years, most well before that, meaning $4.2 trillion, compounding everyday, will have to be given away. “So, to understand the future, what you have to begin to do is follow the money, not in Watergate-like terms backwards, as in who has gotten it, but forwards to where it will go and who will get it.”
     Epstein can find himself echoing aspects of Thomas Piketty on the inequities of the accumulation of wealth (“the divide is between people with assets, which appreciate, and people without assets, who fail to advance—that is, of course, the miracle of compounded interest”), except for the fact that Epstein, knowing the rich, understands a point that Piketty doesn’t: “Nobody, nobody, wants to give it all to their children. Everybody now has the modern appreciation that one of the curses of great wealth is that it can make your kids weird and fucked up.”
     Epstein’s position in this private allotment of a decent fraction of the U.S. Gross Domestic Product is not as a philanthropist but as a sort of adviser or guru or brain—a rich whisperer—making him, in addition to rich himself, arguably among the most influential people you’ve never heard of. 
     Though, likely, you have heard of him—not for his prowess with high abstraction, but for a scandal of such luridness that he is, for a great many, the poster child for the lawlessness of privilege. He is that Epstein, sent to jail in 2008 in Palm Beach on a prostitution charge, based on the complaints of over a dozen underage girls making him, according to the Daily Mail—among his most fervent antagonists—“one of America’s most notorious sex offenders.” 
     And yet the mighty and powerful, disregarding his notoriety, still beat a path to his door. It’s a fantastic conclave of influence in his dining room: financiers, billionaires, heads of state, economic ministers. This includes, hardly least of all, Bill Gates, for whom Epstein has become a key advisor. Epstein has proposed leveraging the resources of the Bill and Melinda Gates Foundation to accommodate many other fortunes, so that, Epstein explains, “you might join 50 or 60 billionaires on one giving project.” 
     Hence, as part of a Gates-encouraged effort to get “out in front” of the notice that might be expected to greet Gates’ public association with him, Epstein—whom I first met in 2002 as part of a group of TED participants he was ferrying on his plane to the west coast—agreed in early fall to these on-the-record conversations with me. He hoped that, six years after his release from prison, he could begin to rebuild his public reputation. 
     Then, just before the New Year, Epstein forwarded me a heads-up email that Alan Dershowtiz, one of Epstein’s longtime friends and occasional legal advisors—they have a bickering brotherly relationship— had received from a reporter at Politico. The Politico reporter had been following Epstein-related court filings and found a new one added to an old lawsuit with some rather jaw-dropping claims. The civil filing, based on claims of one of the plaintiffs, purported to connect a catch-all of bold-faced names associated with Epstein more than a decade ago, including Dershowitz and Britain’s Prince Andrew, to a “sex slave” ring. Indeed, she claimed that she had been forced to have sex with Dershowitz and the Prince at Epstein’s command. 
     Epstein, who sometimes seems to have an out-of-body attitude toward his own fate and bad press, said that while the claims were ludicrous—putting Dershowitz in a sex slave ring, he said, ought to point out just how ludicrous—he thought it might provoke  “quite a show.” In short order, Prince Andrew’s alleged involvement sent the U.K. into tabloid frenzy (even the normally sniffy Guardian, in full anti- royal and anti- billionaire fever, joined in), which then effectively exported the story back to the U.S., where Epstein’s now-long-defunct connection to Bill Clinton, suddenly became a shadow over Hillary, and hence big  news. 
     “I told you,” said Epstein.


There is Epstein in his inner world, trying, ostrich like, not to look out. Little beyond his strict realm seems palatable or even all that familiar to him. Not long ago, when I met him for lunch in the West Village, he noted that he hadn’t been out to lunch in a restaurant in ten years. It was a not particularly pleasant experience for him and we were done in 30 minutes. 
     Then there is the outside world pressed to the glass, appalled and titillated by the monster inside the big house. Press accounts recycle the mysterious billionaire mythology—a man of vast and unsourced riches living in a parallel universe of absolute entitlement—with brief glimpses of him stepping out of the house (the same photos endlessly republished), and the assumption of depravity inside.
     In fact, the life in the house, without wife or children or conventional domestic demeanor, in some way conforms to the scripted fantasies: a life somewhere between Daddy Warbucks and Eyes Wide Shut. There is indeed a group of young women—in their twenties and thirties—who act as Epstein’s support staff and companions. Some have worked for him for many years, marrying, having children, and continuing as part of his business and household infrastructure. One woman, on an afternoon when I was there, had just returned from an around-the-world honeymoon that Epstein had arranged for her. Some are, or have been, his romantic interests. His present girlfriend, whom he met four years ago at a dinner party in New York, is in dental school. One former girlfriend, Eva Andersson Dubin, a Swedish model and Miss Universe finalist whom Epstein has known for more than thirty years, became a doctor—Epstein sent her to medical school—and married hedge funder Glen Dubin. Together they finance the Dubin Breast Center at Mount Sinai Hospital. Most of the women at one time will travel with Epstein to his other floating residences—the ranch in New Mexico, a vast apartment in Paris, the island in the Caribbean, the house in Palm Beach. 
     Epstein will sometimes move a meeting in his dining room outside to the park—his idea of going out to lunch is a Sabrett’s hot dog—with the various girls in the house the accompanying entourage, as though something out of an 18th-century French court.
     But the Hefnerian prurience can also be quite businesslike: poised young women in a mansion on the Upper East Side with various office responsibilities are really not that different from any of the art galleries in the surrounding neighborhood. They mingle freely with his powerful guests, not so much as hostesses—or, in tabloid language, harem-like “sex slaves”—but as attentive students (which, of course, might be regarded as having its own fetish-like attraction). Epstein explicitly denies that there is an sexual quid pro quo. (TK Jimmy Goldsmith quote.) Still, the constant attendance of so many comely young (but of age) women—especially given his past conviction—seems so outside of conventional living or staffing or social or romantic relationships that it is hard to describe in a straightforward or straight-faced way. And while it may be part of the appeal for the men who come to visit Epstein, it is as well a peculiarity they put up with in order to spend time with him. It sometimes seems part of Epstein’s implicit challenge: not just look at me, but do you even believe what you see? Or it seems he is just oblivious to what others are thinking. A willful and perhaps fatal tone deafness. 
     The Epstein house/office is, by careful design, exclusive and clubby, part hang out, part secret society. Along with the fact that, even after his jail term, the rich and powerful have continued to so eagerly solicit him, it’s also notable in the fixed hierarchy of who comes to whose turf, that, when they want to see Epstein, they tend to come to him. He’s created a world and you enter it. 
     A week in late September—U.N. week as it happened—begins, over Sunday lunch, with a colloquial for billionaires: Gates, Mort Zuckerman, the real estate billionaire and owner of the Daily News, and Peter Thiel, the PayPal co-founder and early Facebook investor. The subject is Epstein’s concept for the Gates Foundation of what he calls a “donor advised fund” that could lend the Gates expertise to other billionaires and his view that only the Gates Foundation has real experience in the vast complexities of giving away “hyper wealth.”
     That evening, Epstein, preternaturally responsive to both the price of oil and to the politics of the Middle East, entertains a delegation from Qatar, including Sheikh Hamad Bin Jassim, the foreign minister. Hamad lives across the street in a similarly furnished house—he and Epstein have the same decorator. Epstein, in his relaxed and amused manner, keeps prodding: “Why are you financing the bad guys? What do you get out of that?” The Qatarians, in some mild diplomatic discomfort, seem most worried that their bid for the World Cup might be compromised by bribery allegations.
     At 9 the next morning, Epstein is joined for breakfast in the dining room by Reid Weingarten, who’s represented, among other fat cats in trouble, Worldcom’s Bernie Ebbers and Goldman Sachs’s Lloyd Blankfein, and is one of attorney general Eric Holder’s closest friends. Weingarten, hoarse with a cold, is just back from a failed defense of former Connecticut Governor John Rowland. After a blow-by-blow of the trial, there was a discussion of the Qatarian’s visit—Epstein served chocolate made from pistachios grown on the Sheikh’s farm—and speculation about who actually controls ISIS, with Weingarten arguing that the Turks are not getting enough scrutiny (he posits that ISIS is part of their proxy war against the Kurds). There is, in Epstein’s dining room, always an alternative version of world events—“perception versus reality,” says Epstein, “not to imply that one necessarily has greater weight than the other.” 
     “Why,” I ask Weingarten, when Epstein briefly steps out of the room, “do so many people keep coming back here, everything considered.” This is before the most recent blowup but has been an obvious question ever since his stint in jail. 
     “Why we camp out here? I guess because there’s no place like it.” 
     Epstein summons in the next person cooling his heels in the ante-room. It’s a young man named Brock Pierce, a former child actor and dotcom high flyer—a principle in a gaming company called DEN, a notorious dotcom burnout with its own sex scandal—who now describes himself as the “the most active investor” in Bitcoin and the programmable currency space.
     After a bit, Epstein invites his next appointment to join them. Larry Summers, the former treasury secretary and President of Harvard, enters the dining room. Summers, off Diet Coke, digs deep into the Sheikh Hamad chocolates, then focuses in on the Bitcoin investor.
     “Okay,” he says, after listening for a bit to Pierce and his update on the rapid Bitcoin price swings, “I have opportunities here. But an additional feature of my decision problem, roughly speaking, is that the worst that could happen to you is that you could lose all the money you put into it. Whereas, I could go—I mean I don’t look that great now—but I could go from being seen as a figure of some probity and some intelligence to being a figure of much less intelligence and much less probity…”
     “Well,” says Pierce in seeming dramatic understatement, “you are going to have some low quality characters playing early in the space…”
     That evening, in the Epstein dining room (he seems rarely to use the rest of the house’s 50,000 square feet), there is a small cocktail party, which includes the former Prime Minister of Australian, Kevin Rudd, and Thorbjørn Jagland, the head of the Nobel Peace Prize Committee, who offers an affable, but generally scathing, critique of U.S. diplomacy (and a brief defense of Obama’s Peace Prize award) and to whom Epstein offers a ride back to Europe on his jet. 
     The next morning, it’s Ehud Barack, the former Israeli Prime Minister, for breakfast. Barack is, over his omelet, able to defend both Obama and Putin. Then a high ranking official from the Obama White House, whose name I am asked not to use. There follows the former head of the UN Security Council, Hardeep Purie, and then head of the central bank of Kazakhstan, Kairat Kelimbetov. Then Nathan Myhrvold the former chief technology office at Microsoft. Then Martin Nowak, a Professor of Biology and Mathematics and Director of the Program for Evolutionary Dynamics at Harvard, the institute that Epstein has funded with $30 million. Part of Nowak’s research has to do with trying to “describe cancer mathematically.” (Epstein preempts Nowak’s explanation : “Think of cancer the same way as you think of a terrorist group. The NSA has been able to thwart a great number of terrorism acts by intercepting communication signals from one terrorist to another. That same dynamic, a form of signal intelligence, of finding a terrorist in Europe, can be used to intercept communication between cancer sells. Cancer cells merely communicate in protean code rather than electronic code. If you can decode what the signals are saying you can jam those signal between terrorist calls—essentially wipe out their cell phones. Likewise if you can decode biological signals you can jam them too, that’s the holy grail.”)
     Then Richard Axel, a Nobel prize winner in physiology. Then Ron Baron who has $26 billion under management in his Baron Fund. Then Josh Harris, the co-founder of Apollo Global Management ($164 billion under management) and owner of the New Jersey Devils and the Philadelphia 76ers. 
     What goes on at Epstein’s house confirms everyone’s worst fears about power and the powerful: they are all in a secret and shared conversation. The world runs on insider information. And, certainly, inside Epstein’s dining room, it remains a man’s world—a rich man’s world. Indeed his salons tend to offend most every aspect of reconstructed gender and political sensibilities. 
     The rich come here, risking public opprobrium, not to mention the censure of their wives, because there aren’t, in this leveled age, too many places where they don’t have to pretend that they are something other than rich and powerful. The conversations at Epstein’s are the conversations, I suspect, that rich men dream of, but in the real world are actually hard to have. At Jeffrey’s the rich don’t have to humor the sensitivities of the rest of the world. This is unfiltered power and wealth, which seems not so much crass as efficient: this is the way the world works, no bullshit. Epstein facilitates that conversation without guilt or worry, and, in fact, with great glee and enthusiasm. It is not just the remarkable flow of valuable information before it hits the New York Times (including, while I sat here, notice of the resignation of a cabinet secretary a week before it hit the Times), but Epstein’s almost small-town narrative of the doings of the powerful in the face of this week’s economic trends, a kind of back-fence gossip that just happens to feature the comings, goings, and secrets of some of the world’s most astute players and assorted megalomaniacs. 
     Wealth is the bond and the experience. Once, at lunch in the Epstein dining room with Bill Richardson, the former Governor of New Mexico, and past Presidential aspirant, when Epstein left the room for a few minutes, I asked the obvious question, the one everybody asks each other, “How did you meet Jeffrey?” Richardson seemed surprised: “Jeffrey,” he said, as though stating what should have been perfectly obvious, “is the biggest landowner in New Mexico.”
     Epstein has a yet more structural explanation as to why, after prison and with continuing tabloid infamy, he can maintain his valued place. It comes back, not unexpectedly, to the nature or the needs of money: “At a certain level of finance, almost everyone is allied with an institutional interest. You are part of government, or you want to be in government, or you are connected to a bank or other portfolio, or you have key relationships with certain corporations or industries. Because of my situation, I have none of that. I have no institutional ties which makes me in some sense one of the few wholly independent sources of information and actual honest brokers. That’s the usefulness of disgrace.”
     It’s also true that Epstein’s circle might be more forgiving of disgrace than the rest of the world. Many of these men have themselves been on the wrong side of a negative story or a scandal or a damaging public lawsuit. Any hyper-prominent person might run afoul of prosecutors, the political moment, the media, or the Internet hoi polloi. And they know that the media’s (or prosecutors’) version of events seldom square’s with their own. In that way, they are, even after a conviction, quite willing to give Epstein the benefit of the doubt. 
     There is even a wry sense of humor about his propensity for a certain kind of scandal. People who know Jeffrey exchange “Jeffrey” stories. “That’s Jeffrey,” says Mort Zuckerman, (whose paper, the Daily News, is ever vitriolic in its coverage of Epstein), with a twinkle in his eye and obvious enjoyment, to tales of Epstein escapades. It is an outréness that Epstein seems to cultivate. In his Paris apartment, 10,000 square feet on the Avenue Foch, a neighborhood otherwise occupied by foreign potentates, there is a stuffed baby elephant in his living room—that is, the elephant in the room. (Epstein says too it’s a reminder that elephants have 23 copies of tumor suppressor genes and humans have only 1.)  The single book on his bedside table is Lolita (he is, beyond the joke, a great Nobokov fan).
     And, too, he seems often to be right. Since I began working on this piece in September, Epstein predictions about the price of oil, yen, ruble, and euro have all born out. If I had invested $100,000 the way Epstein said I should in early September, by the end of January I would have made $2.4 million. (Alas, I did not invest.) At any one moment, he is making a series of bets for himself and others. Recently he identified a dozen or so promising quants, each hawking their own special-sauce algorithm, and planned to test their math with investments of up to $5 million each. But don’t mistake him for running anything like a workaday hedge fund; this is much more a privileged association. Money is always about the club it gets you into. 


Most everyone who is now of a certain age and ambition and status grew up in, and found they were temperamentally suited to, the era of wealth that started in the late 1970s. A meritocracy on steroids, or, as Vanity Fair would baldly dub it, the new establishment, an increasingly parallel world, a self-invented one, at further and further remove from the ordinary one. Epstein’s is just one version, albeit picaresque and louche, of this shared story.
     Epstein often tells, with some obvious marvel, his middle class to riches tale: born in 1953 in Coney Island, father worked for the city’s Parks Department, mother a housewife.
     The captain of the math team at Lafayette High school in Bensonhurst, he went on to Cooper Union where the tuition is free. He dropped out after two years and began taking classes at the NYU’s Courant Institute of Mathematics. Then, without a college degree, hence by a slight of hand, he got a job teaching math and physics at Dalton in 1974. (A few years ago, during a chance encounter with a former Dalton math department chairman, Margo Gumport, I asked her about Epstein. She said he was the most brilliant math teacher at Dalton in her 50-year career and that she had often wondered what had become of him.)
     Dalton was his first exposure to the wealthy. They have, he concluded, just as many problems as the people in Coney Island, but different ones, almost invariably involving divorce and money. “I found it interesting as a science experiment,” he recalled recently as we chatted about his life. “It did not really involve me. I could just stand back and watch.”
     Dalton fathers were attracted to him as a young man clearly on the make. Punch Sulzberger, the publisher of the New York Times, and a Dalton father at the time, tried to recruit Epstein to come to the Times. (Epstein recounts a story of riding with Sulzberger in his wood paneled station wagon to the family’s country estate and Sulzberger talking to the chauffer on a phone from the backseat to the front.) But he wasn’t interested in being a journalist.
     In 1976, another Dalton father, asking “wouldn’t you rather be rich than be a teacher?” introduced him to Bear Stearn’s chief Ace Greenberg, a conversation Epstein recounts as this:
     Greenberg: “Everyone tells me you’re super smart in math and you’re Jewish and you’re hungry…so why don’t you start working here tomorrow?”
     Epstein: “What?”
     Greenberg: “If you’re supposed to be so fucking smart, don’t you understand English?”
     Epstein: “Ok. Count me in.”
     Hence, Epstein, like many in the late ‘70s, arrived on Wall Street. By the fortuitous luck of being there at that point in time, Epstein was propelled by a much more explosive form of upward mobility than had ever before existed. With a facility for mathematics as well as for getting along with wealthy men, he got rich at an even faster rate than so many others. 
     He moved into the penthouse of a new building at 66th Street and Second Avenue—still in the shadow of the Maxwell Plum era when the 60s on Second was the glamour address—a building that was, he says as a fond memory, full of “actresses, models, and euro trash.” (It would shortly become the Studio 54 era, where Epstein, who has, proudly, even militantly, never had drink or taken any drugs, was a regular). 
     If on one side of Wall Street there were the salesmen (the Wolf of Wall Street model), on the other side there was a new sort of finance type able to embrace a level of acute abstraction. “In the past,” says Epstein, “investing was all about reputations and relationships. You invested in a company on the basis of who was running it. Did they have integrity? Were they married? Good family men? It was a ‘50s mentality. But in the mid ‘70s options started to be traded. In essence, the first formal derivatives. The movement of this instrument is not directly attached to the stock price. The world of investing began turning from relationships to math. In a sense I didn’t really make money as much as I tried to create it. This was intellectual activity of a fairly high order.”
     Intellectual activity aside, he met Helen Gurley Brown and she made him Cosmopolitan Magazine’s Bachelor of the Month in 1980.
     “What,” I ask, “was your social life like?”
     “Well, I was a playboy.”
     “That’s all? Not looking to get married?”
     “No. Never. I never wanted to get married. I enjoyed sex. I adore women. I wanted freedom. I was attracted to the rich because of their freedom. But I wanted also to avoid their burdens. And I didn’t want to hide. I didn’t want to be a hypocrite. I wanted to be free. I was not remotely ambivalent about what I wanted: to be free. That was the reason to make money.”
     His rise at Bear Stearns was a swift one. And he soon became the protégée of Jimmy Cayne (also hired by Ace Greenberg on a whim—he met him in a bridge game), who would go on to run Bear and to lose his fortune in Bear’s 2006 collapse). Epstein’s leave-taking or ouster from Bear was the result of politics, envy, overreaching, or a securities violation, or…unclear. But, no matter, when he left in 1982 he took with him billionaire clients, including Marvin Davis, a real estate developer who owns Twentieth Century Fox, and Herb Seigel, a major media investor in the 1980s. At this point, Epstein was dating Morgan Fairchild, a television star in the new mega-rich-family soap operas, Dallas and Falcon Crest. 
     The Concorde phase of his life coincided with the Concorde phase of the 1980s. If the ‘80s were happening pell mell in New York, they were happening at double time and catch up speed in London. Thirty-year-old Epstein was living a Lifestyle of the Rich and Famous (he befriended the show’s star, Robin Leach), at English shooting parties and country estates with Saturday night black tie dinners, where he was meeting the over-the-top families of Europe. 
     “I didn’t take it seriously,” Epstein recounts. “I was not caught up in it. I wasn’t trying to make a billion dollars. There was no ultimate goal. It was just fun to meet smart people, interesting people. But no long-range plans. Often no short-term plans either. I would head to Kennedy and, on the theory that most important events in one’s life are serendipitous, I wouldn’t decide where I was going until I got there.”
	At the same time, he was developing a perception, or, at least a market differentiation: the hyper wealthy had different problems than the very wealthy. Dealing with a billion dollars was different from dealing with $100 million. “If you had a billion dollars I would think the last thing you should be worried about was money, in truth money was what you most worried about. How to make more of it, how to give away more of it, how to protect your children from it, how to hide it from your wife or husband, how to minimize your taxes on it. The traditional wealth service structure, an accountant, and investment advisor, a personal lawyer, and an idiot brother-in-law, became hopelessly outdated as amounts exponentially increased. 
	“You can’t spend a billion dollars, you can just reallocate it to a different investment class. And you can’t give away a billion dollars without a vast staff, in effect going into the business of giving away money, yet another business you are likely to know little about.”
	For a period, one part of his activities, he says, was recovering monies for countries looted by exiled dictators or military strongmen. Then, in his telling, he was representing a series of vastly wealthy people and families—not just doing their bidding or their investing, but helping them to navigate the ambitions of their wealth. If they had big dreams before, it’s nothing to what they can have now. 
     If early in his career he might have seemed like a sort of George Peppard (there’s a physical resemblance) in Breakfast at Tiffany’s, a charming hustler, later he’s George Peppard in Banacek, a smart and astute operator. At just about this point in the narrative, the incredulity about Epstein began to circulate in social circles. Epstein had acquired the major symbols of wealth but without position, public holdings, or obvious paper trails. His is a questionable substrata of wealth, without institutional credentials or bona fides. He’s a freelancer. That’s the rub: he doesn’t work for anyone. 
     There is no clear alternate narrative, except perhaps guilt by association. (In addition to Robert Maxwell, who will be accused of fraud, there’s Steven Hoffenberg, briefly a New York high flyer, who went to jail for a Ponzi scheme, for whom Epstein acted as a consultant—along with, he points out, Paul Volcker.) But the characterization persists: if it’s not clear, it must be murky. Sure, Goldman Sachs partners and tech geniuses, they might have stratospheric wealth, but what to make of a Coney Island, Zelig-like no-namer? 
     In 1994, just at the moment when Prince Charles was on television acknowledging his love for Camilla Parker Bowles, Jeffrey Epstein was sitting with his arm around Princess Diana at a dinner at the Serpentine Galley in London (Diana wearing her “revenge” dress that evening). Graydon Carter, in his second year as editor of Vanity Fair, was also at the dinner. Epstein’s rise and Carter’s rise are not, with a little critical interpretation, that different. Both are a function of the age of new money, both are helped by strategic relationships with the exceptionally wealthy, both have made themselves up. To say that Epstein, in the company of the Princess, stuck in Carter’s craw would be an understatement. Epstein became one of the “what do you know about him” figures in Carter’s gossip trail—a story waiting to happen. Carter once advised me not to go to Epstein’s house or accept a ride in his car least I risk being blackmailed. (“For what?” I asked Carter. “You can’t even begin to imagine,” said Carter.) 
	Epstein is private and secretive, but grandly so. He joined the board of Rockefeller University. He was suddenly on the Trilateral commission, that cabal of business people who fancy themselves, and who are fancied by conspiracy buffs, as running the world. He bought, from his client Limited Founder Les Wexner, the largest private house in Manhattan. (Rumors will continue for many years, that Wexner owns the house and Epstein is just squatting in it—an 18-year squat.) He bought an airplane. Then another. He expanded his holdings in New Mexico. He began a Xanadu-like refurbishment of his Caribbean Island. 
     He befriended Bill Clinton in his new after-office life—and that would prove to be quite the fatal pairing. 
	The post-Monica Clinton, now having pardoned the on-the-lam financier Marc Rich—at this point, before his own rehabilitation, Clinton really is the world’s ultimate sleaze ball—was suddenly being ferried around in the jet of…who exactly? The New York Post was the first to take formal media note of the Clinton-Epstein connection, hinting at a sex and money bromance. “I suppose travel with Clinton changed the arc of my life,” Epstein tells me. “There were, I knew, lots of obvious reasons not to do it, but having the ability to spend 100 hours with a former president just doesn’t happen to many people.”
	I met Epstein around this time, on the flight out to TED. (Epstein had become an active backer of advanced scientific research and a fixture at the conference.) A small group assembled at the private plane terminal at JFK, most of us unfamiliar with our benefactor, and as we headed in the direction of the discreet private plans we were gently pointed to our ride: Epstein’s 727. 
     It was like something out of a men’s magazine fantasy of the luxe life. The quiet of the plane, engineered into acoustic perfection, seemed spooky. Epstein was accompanied by three young women who were witty, poised, helpful, as well as powerfully alluring. And Epstein, tanned, relaxed, with a wide open smile, was an attentive host, soliciting every guest’s story and views. (One more thing about this trip: Google founders, Larry Page and Sergey Brin, with their company still in its infancy, came out to see the plane on the Monterey tarmac and, with a few other Googlers, literally ran whooping from one end of the plane to the other. Then they described for Epstein, in what I cannot now remember was a put-on or entrepreneurial brainstorm, a brand extension in which they would market a line of Google bras with the Os as convenient cups. In fact, the name Google, they said, was invented out of the belief that men would focus on a word with two Os in it.)
	Not long after this trip, Epstein’s assistant called to invite me for tea at his house in New York, where Epstein, with what seemed to me little understanding of the subject, began to ask me about media—the upside, downside, and nature of media coverage. (Epstein’s flirtation with the media would result in his backing an unsuccessful effort, of which I was a part, to buy New York Magazine in 2004, and then later, with Mort Zuckerman, backing the launch of Radar magazine.)
     New York magazine was then soliciting him for a profile, as was Vanity Fair, who had assigned the British journalist, Vicki Ward, to the job. Both profiles—New York’s by Landon Thomas—pivot on the Clinton connection and detail the same quandary, how a man without clear institutional bona fides nevertheless achieved such wealth and influence. Epstein, sensing that he might be exposing himself, called Carter and said he was having second thoughts about being a public figure.
	“Then you should have lived in a two bedroom apartment in Queens,” responded Carter.


And then the real troubles began. Epstein, in man-who-can-have-everything fashion, has, for many years, ordered up a daily massage following his workout sessions.
	“Often these were massage massages,” says Epstein matter of factly, “but sometimes these were happy ending massages, especially in Palm Beach, where there are many massage parlors—‘Jack Shacks,’ they’re called—that do outcalls. There was no sex. An often there was no happy ending. Often I would be on the phone for the entire massage. There were however a lot of massages and a lot of girls, with one girl recommending others.” He says all this in a straightforward manner that seems utterly tone-deaf to its effect, as if he suffers from a sort of cultural autism.
	After Epstein’s round of publicity and widely touted association with Clinton, the stepmother of one of the massage parlor girls who went to Epstein’s house called the police. The police interviewed the girl—who was TK at the time, but whose website identified her as 18—and the girl supplied the names of other girls, some of whom were also younger than 18.
	In the end, the police tracked down 18 girls—nine of whom were under 18 [THIS IS IMPORTANT: HOW OLD WAS THE YOUNGEST?]; the others were in their 20s and 30s; one woman was in her 60s—a number of whom gave statements describing, in essence, happy -ending massages. (Although the nature of the allegations will dramatically grow into threesomes and forced sexual encounters, nobody at this point alleged anything more than this.) 
	A shadowy rich man, friend of the louche and disgraced president, at all times surrounded by a retinue of young and attractive women doing his bidding, is found to have gathered a network of wrong-side-of-the-tracks Palm Beach girls to provide him with weird sexual services. (It somehow reads weirder that he doesn’t have sex with them.) To boot, his former girlfriend, Ghislaine Maxwell—the daughter of the disgraced Robert Maxwell—encouraged at least one of the girls to come to Epstein’s home (and is henceforth known as the procurer or madam for Epstein and, later, his friends). It certainly doesn’t look good. 
     Epstein called in Dershowitz, who flew into Palm Beach to put the local authorities in their place—alienating Palm Beach officialdom—and, further amping up the profile of the case, also brought in Roy Black, the famous criminal attorney who defended William Kennedy Smith in his rape trial in Palm Beach. Epstein might have just been hit with solicitation charges and paid a fine even though some of the girls were underage; prostitution charges in Florida (as in most places) have no age limits and the Palm Beach grand jury proposed solely a solicitation charge. But Epstein’s flamboyance and his friendship with Clinton invited the scrutiny of the Bush FBI, and ultimately Epstein and his legal team decided to go for a plea deal. The result was a baroque set of agreements with both the Feds and Palm Beach county, which mandated jail time (Epstein was sentenced to 18 months, of which he served 13—nearly all Florida prisoners serve only 70% of their officially sentenced time) and sex offender status. The deal also provided for an unusual, if not unprecedented, arrangement by which he agreed to pay the legal fees for 40 girls specified by the FBI in civil suits against him and not to oppose their claims, resulting in an overall settlement costs that may be as high as $20 million. (A bit more baroqueness: one of the lawyers representing some of the plaintiffs, Scott Rothstein, would also go to jail for recruiting investors to pay for these suits on the fraudulent basis that settlements had already been reached and that many of the listed women had agreed to take reduced immediate cash payments.)
     It is in part this impossible-to-explain weird-justice outcome that has made some people think Epstein was covering for someone, or something, else—perhaps his most high-profile friend?
     “So?” I ask, one day late in our interviews. “Explain this. It does make it look like you were covering for you-know-who.”
     “Covering?” He chuckles. “First, by the way, you-know-who was never there. Never came to the island. Not once. Not ever. But you’re right—nobody has ever heard of anything like [this agreement]. But while it was breathtaking, it was also straightforward: you sign this or else we will federally indict you in ways that will threaten your property, the people who work for you, and might put you in jail for ten years. I took the deal.” (Indeed, the deal protected him from federal prosecution, and protected his “co-conspirators,” the employees who supplied him with massage girls, from being charged as accessories to molestation and sex with minors.) 
     Epstein got out of jail in 2009. The experience does not seem to have much dented his general bonhomie. One evening over dinner he and the former director of ports in the semi-rouge state of Djibouti, who had fallen afoul of the regime and found himself in prison, exchanged jail stories—they agreed, not as bad you’d think. Epstein, having done his time, moved mostly seamlessly back into his life, to the shock-shock of tabloids whenever they are reminded of his existence (notably, when Epstein’s payment of Fergie’s debts slipped out, likely leaked by Fergie herself).
     Some things changed. While surprisingly few others dropped him, the Clinton’s did, an irony of the present tabloid interest in Epstein’s old address book with its many Clinton contacts. And his sex offender status has transformed him from libertine playboy to pedophile.
     While he has regularly entertained PR proposals aimed at his public rehabilitation, until Gates prodded him, and until this recent renewed tabloid fever, Epstein had concluded that he was perfectly satisfied living behind high walls and in his own exclusive club. Even now, this new Dershowitz-Prince Andrew chapter seems like a parallel disturbance rather than something that is actually affecting him. “Bad press is not something actually bad,” he notes, trying to balance perception and reality.
     And, indeed, the tabloid narrative and his own story rather define divergent realities. The ongoing case, with the filings that introduced the Dershowitz and Prince Andrew allegations, was brought by the imprisoned Rothstein’s former partner, Brad Edwards. It relies entirely on the testimony and the memoir, excerpts of which were published by the Daily Mail, of Virginia Roberts, who claims that Ghislaine Maxwell met her, when she was 17, at Donald Trump’s Palm Beach resort and got her a job in the Epstein house, which she held for several years, traveling in the Epstein entourage. It is Roberts—who refused to cooperate with the FBI’s 2007 investigation of Epstein—who has propounded the “sex slave” narrative. She claims that “massage” was a code word for sexual acts, and that she worked for Epstein for TK years for $TK, having sex with him and his friends, and reporting on the details to Epstein so he would have blackmailable details about them. In the laundry list of big names, she also claims that Epstein introduced her to Bill Clinton and Al and Tipper Gore (though there was no sex involved). 
     Roberts, who was part of the original settlement—which some accounts put as high as $1 million—has sought an additional $50 million {NEEDS STATUS CHECK} from Epstein [CLARIFY THAT SHE IS NOT SUING HIM BUT SUING THE GOVT AND SAYING SHE’LL DROP IT IF HE PAYS HER?], and is planning a book on her life and the scandal. But there has been no corroboration of the Roberts charges nor any new evidence or further prosecution. Epstein says she never met Clinton through him and, indeed, that he himself has never met the Gores. Dershowitz is suing her for libel. 
     But true or not, the story has taken on a life of its own, with the US and British tabloid press continuing, so far unsuccessfully, to search for a smoking gun connecting Clinton to underage girls, which could have the effect of derailing the Hillary Clinton presidential campaign. In the meantime, it is delaying—quite an understatement—Epstein’s hoped-for public rehabilitation.   


It is a curious attribute of his character that, other than perhaps being more circumspect about what legal advice to follow, Epstein would have done little differently. (When I suggested recently to Epstein that one obvious way to blunt the animus bearing down on him would be to get married, he said he’d rather go back to jail.) His life, living it as he wants, seems to him to be an extraordinary accomplishment. Being on the wrong side of morality, custom, politics, feminists, the media, that’s just a bit of bad luck.
     And it is perhaps this attitude of his that irks his critics the most. Although he has spent more than a year in jail and paid out what may be as much as $20 million, he yet seems somehow to have gotten away with it—that worst sin of all. He is the unrepentant catchall of up-to-the-minute badness: the financier whose wealth is a product of Wall Street math rather than work; a rich middle-age white man who not only parades his wealth and entitlement, but has a Peter Pan complex to boot; an insistent playboy (excuse me, pedophile) in a correct and prudish world—someone who somehow didn’t get the memo about vast changes in mores and culture.  
     But Epstein’s friends—and I think that is, in the end, the best word for the powerful people who orbit him—are willing to take him as he comes. Epstein is their confidant. Not the only nexus of them, but one of them. Dr. Epstein. Lay on my couch. As he is everybody’s confidant, everybody becomes his confidant. This is the back and forth, the power loop. His expertise is knowing what other people know. Which surely offers a unique sense of confidence that it is possible to understand how the world works. And in a time of such radical flux and existential instability, everybody wants to seek out someone who might have some answers or at least make you feel like he does—even, and maybe especially, the rich.
     In the last days of my interviews with Epstein, he was called by a particular world-stage individual, among the richest and most powerful—proudly louche himself—who, feeling out of his depth in a world of crashing oil prices and wild currency fluctuation, had come to believe he might benefit from some private tutoring. Epstein welcomed him to the club. 





"
IMAGES-008-HOUSE_OVERSIGHT_024706.txt,"ACKRELL
CAPITAL Cannabis Investment Report | December 2017

from being imported into the United States. However, because the production of such non-marijuana
products ordinarily involves possession of the entire cannabis plant, including parts deemed marijuana
under the CSA, the CSA effectively prohibits such production in the United States without DEA

registration.

Tetrahydrocannabinol (THC)

In addition to and separate from marijuana’s listing on Schedule I, tetrahydrocannabinol' (THC) has
been listed on Schedule I since the CSA’s enactment in 1970. From 1970 until 2003, DEA regulations
defined THC for purposes of its separate Schedule I listing as including only “synthetic equivalents”
of the THC found in the cannabis plant. In 2003, the DEA purportedly amended this regulatory
definition of THC to include both synthetic equivalents of THC and THC occurring naturally in the
cannabis plant. In its 2004 holding in Hemp Industries Association v. DEA, the U.S. Court of Appeals
for the Ninth Circuit enjoined DEA enforcement of this purported amendment and held that the
THC listed separately from marijuana on Schedule I includes only synthetic THC and that any THC
occurring naturally within the cannabis plant is controlled under the CSA only if it falls within the
CSA definition of marijuana.

Penalties for CSA Violations

Federal penalties for violating CSA provisions regarding marijuana or THC include fines and imprison-
ment. CSA violations may also result in federal seizure of cash and other assets related to the violations.
CSA penalties may apply to cannabis businesses that violate the CSA and also to individuals who own
or operate such businesses based on attempt, accomplice, conspiracy and criminal enterprise provisions

included in the CSA.

New DEA Registration Policy

For nearly 50 years, only one cannabis cultivation site in the United States has operated with the
required DEA registration. The site is operated by the University of Mississippi under a contract with
the National Institute on Drug Abuse to supply the country’s entire stock of federally legal cannabis,
which is used exclusively for research. In August 2016, the DEA announced a new policy designed
to increase the number of DEA-registered cannabis cultivators and permit-registered cultivators to
grow cannabis for privately funded commercial drug development projects. The DEA announcement
acknowledged the increasing interest in conducting cannabis research related to commercial pur-
suits, and indicated that the best way to satisfy the increased demand was to increase the number of
DEA-registered cultivators. The DEA has since accepted at least 25 applications for registration but has
not issued any new registrations.

‘CSA Schedule I uses the plural form “tetrahydrocannabinols” to describe a category of substances that includes chemical deriva-
. . . . @ ar
tives and isomers. This report adopts the more commonly used singular form, “tetrahydrocannabinol.

70 © 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024706
"
IMAGES-011-HOUSE_OVERSIGHT_030858.txt,"market. Nitaxis sees the Chinese Stare Reserve Bureau cutting its purchases from 600-700 kMT in 2014 to ~300 kMT in
2015 as domestic supply catches up with demand. Zinc open interest is looking very high leading Macquarie to suggest
that prices may be going down this quarter.

Shanghai Aluminium on warrant stocks are down 3.52% to 46.9 kMT. LME Aluminium on warrant stocks are flat at
1852.2 kMT. Shanghai Copper on warrant stocks are up 0.97% to 31.1 KMT. LME Copper stocks are up 0.67% to 155.1
kMT. LME Nickel stocks are down 1.21% to 324.4 kMT.

Copper Vols are up 0.28% in the front, Ali Vols unch, Nickel Vols are unch in the front, up 0.27% in the back, Lead and
Zinc Vols unch

Upcoming Data
8/1- EC Consumer Confidence-Surv -10.9, Actual -10.9, Prior -10.9
8/1- US Initial Jobless Claims-Surv 290k, Actual 294k, Prior 298k

Regards,
Prateek

Please access the link for disclaimer:
http://globalmarkets.db.com/new/content/3045.html

Deutsche Bank External Business Conduct Standards can be found at

www.DB.com/doddfrank

This communication may contain confidential and/or privileged information.
If you are not the intended recipient (or have received this communication
in error) please notify the sender immediately and destroy this
communication. Any unauthorized copying, disclosure or distribution of the
material in this communication is strictly forbidden.

Deutsche Bank does not render legal or tax advice, and the information
contained in this communication should not be regarded as such.

HOUSE_OVERSIGHT_030858
"
IMAGES-004-HOUSE_OVERSIGHT_016549.txt,"Page 40 of 42
103 Minn. L. Rev. 844, *913

not unique hybrid: it provides independent review removed from local electoral politics, yet power remains in the hands of

213, U.S. Attorneys and the U.S. Attorney General are political appointees, U.S. Const. art. II, § 2 (Appointments Clause); 28 U.S.C. § 541
(2012) (""The President shall appoint ... a United States attorney for each judicial district.""), although much of the Justice Department staff are
nonpolitical, civil service appointees. See Government Ethics Outline, U.S. Dep't Just., https:/Awww_ justice.gov/jmd/government-ethics-
outline (last updated July 5, 2017) (explaining ethics rules for ""non-career"" political appointees and for career employees).

214 See Sanford C. Gordon, Assessing Partisan Bias in Federal Public Corruption Prosecutions, 103 Am. Pol. Sci. Rev. 534, 549 (2009)
(finding evidence of political party bias among federal prosecutors).

215 The clearest historical example would be the post-Reconstruction decades, starting roughly after 1876, when the federal government
retreated from civil rights enforcement in the former Confederate states, including from prosecutions for criminal rights violations and
offenses that states declined to charge, including for homicides. See generally Eric Foner, Reconstruction: America's Unfinished Revolution,
1863-1877, at 524-86 (2014) (describing declining enthusiasm for civil rights enforcement and waning Republican political influence in the
South); William Gillette, Retreat from Reconstruction, 1869-1879, at 190-200 (1979) (describing Southern Democrats efforts to resist civil
rights enforcement); George Rutherglen, Civil Rights in the Shadow of Slavery: The Constitution, Common Law, and the Civil Rights Act of
1866, at 95-100 (2013) (describing Supreme Court decisions limiting the enforcement of the Civil Rights Act of 1866).

216 Alaska, Connecticut, and New Jersey do not elect prosecutors. Perry, supra note 122, at 2. Delaware and Rhode Island elect state
attorneys general, whose appointed staff handle all prosecutions. Id. at 11. Except in these jurisdictions, state attorneys general and justice
departments generally have little authority over local prosecutors' offices. Cf. Michael J. Ellis, The Origins of the Elected Prosecutor, /2/
Yale L.J. 1528, 1528 n.1 (2012) (noting that elected prosecutors are unique to the United States).

217 A classic account of prosecutors' political influence is William J. Stuntz, The Pathological Politics of Criminal Law, /00 Mich. L. Rev.
505, 546-57 (2001). For an insightful account of federal prosecutors successfully convincing Congress to expand their discretion at the
expense of judges' sentencing authority, see United States v. Kupa, 976 F. Supp. 2d 417, 419-27 (E.D.N.Y. 2013) (describing the legislative
history and Justice Department lobbying related to federal drug statutes, notably 27 U.S.C. § 841 (2012)).

218 See, e.g., Milliken v. Stone, 7 F.2d 397, 399 (S.D.N.Y. 1925), aff'd 16 F.2d 98] (2d Cir. 1927) (""The remedy for [dereliction of the
prosecutor's duty] is with the executive and ultimately with the people.""); Jn re Hickson, 2000 PA Super 402, P 36 (""The prosecutor is elected
to run her office using her broad discretion fairly and honestly. If she fails to do so, ... the remedy lies in the power of the electorate to vote
her out of office.""); Jn re Padget, 678 P.2d 870, 873-74 (Wvo. 1984) (""District and county attorneys hold elective offices; if their constituents
are unsatisfied, they are free to express their feelings at the voting polls.""); cf. Chenev v. U.S. Dist. Court, 542 U.S. 367, 386 (2004) (""The
decision to prosecute a criminal case ... is made by a publicly accountable prosecutor.""). For discussion of this point, see Brown, supra note
126, at 33-41.

219 See Adam M. Gershowitz, 12 Unnecessary Men: The Case for Eliminating Jury Trials in Drunk Driving Cases, 20// U.JIII_L. Rev. 961,
966-69, 984-87 (2011).

20 Emily J. Sack, Battered Women and the State: The Struggle for the Future of Domestic Violence Policy, 2004 Wis. L. Rev. 1657, 1689-90
(2004).

~I Police departments also widely adopted mandatory arrest policies, especially for domestic violence offenses. For discussions and
examples of both police and prosecution policies on domestic violence and sexual assault, see Aya Gruber, The Feminist War on Crime, 92
Towa L. Rev. 741, 760 & n.90 (2007); Sack, supra note 220. Note how this resembles the mandatory prosecution duty familiar in European
systems, although it is an internal policy rather than statutory mandate. See supra Part II.B.1.

222 See supra note 186 and accompanying text.

223 Td,

24 See, e.g., Fla. Stat. § 741.2901(1)-(2) (2018) (""Each state attorney shall develop special units or assign prosecutors to specialize in the
prosecution of domestic violence cases ... [who] shall receive training in domestic violence issues... . The state attorney in each circuit shall
adopt a pro-prosecution policy for acts of domestic violence ... .""); Wis. Stat. § 968.075(7) (2018) (""Each district attorney's office shall
develop, adopt and implement written policies encouraging the prosecution of domestic abuse offenses."").

5 Some state legislatures enact voluntary charging criteria in statutes that affirm prosecutorial discretion. See, e.g., Wash. Rev. Code §
9.944.411 (2018) (""A prosecuting attorney may decline to prosecute, even though technically sufficient evidence to prosecute exists,"" and
providing a ""Guideline/Commentary"" for such decisions).

DAVID SCHOEN

HOUSE_OVERSIGHT_016549
"
IMAGES-006-HOUSE_OVERSIGHT_021514.txt,"31LE-MM-108062

i

Pursuant to a federal investigation regarding the sexual
exploitation af minots,| Sd wa inkerviewnd

by the FBI.[ identifying information is recorded below:

Name:
Maiden Name

Race: White
Sex: Female
DOB:
SSAN:

Home Address:

Home Telephone:

3/E- MH-Jokoe2. ]4¥l2.
HOUSE_OVERSIGHT_021514
"
IMAGES-007-HOUSE_OVERSIGHT_023992.txt,"Skilled in the art of seduction, the Fairmont Royal Pavilion was one of Starting

the first great beach hotels to open on Barbados. Refreshed by a major Saturday 30/7 at
2010 renovation, this graceful Colonial-style estate makes the most of

its location - by day guests swim, sail and cavort along the powdery Noon BST
beach or simply enjoy the views from a private terrace overlooking the ES =
water. And by night, one of the island's most elegant tables will be
available, where dinner is served with the serenading sounds of the surf.

Click here to preview sale

Racecars & Relaxation with Momentum Adventure

Experience Baja, Two Ways

HOUSE_OVERSIGHT_023992
"
IMAGES-009-HOUSE_OVERSIGHT_027646.txt,"Flags: 1150981
Is Read: No

Is Invitation: No

GUID: 1543BB93-8C25-47AD-BBC1-C2DEB33CECBO

Message: Ahhh. Just told me you are not coming till tomorrow. sjame

Sender: e:jeeitunes@gmail.com

Time: 03/31/19 06:28:49 AM (575731729)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: FA2ACD97-D48B-47E7-953D-D95390346EA8

|

Message: shame

Sender: Ei

Time: 03/31/19 06:36:33 AM (575732193)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: DCA927D7-BF94-43BD-B8 9C-E52 8A2AFEED2

Message: I'm coming tonight @ 7

Sender:

Time: 03/31/19 06:37:29 AM (575732249)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: B16BICB6-9CA8-4320-80FB-4D1837711C98

Message: Meetings here now end @ 630 ; wheels up roughly 7 to 730

Sender: e:jeeitunes@gmail.com

Time: 03/31/19 06:39:48 AM (575732388)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: F6C59005-973F-4C3B-9A82-8AB40CA78F68

Message: So do you want to come tonite/? Up to you as always . I mon ny time so
no worry

Time: 03/31/19 06:40:49 AM (575732449)
Flags: 1060865

Is Read: Yes

HOUSE_OVERSIGHT_027646
"
IMAGES-005-HOUSE_OVERSIGHT_019233.txt,"June 2017

¢ Freedom
1 House

Breaking Down Democracy:
Goals, Strategies, and Methods
of Modern Authoritarians

by Arch Puddington

HOUSE_OVERSIGHT_019233
"
IMAGES-011-HOUSE_OVERSIGHT_032097.txt,"shoe may well be one of the least frivolous prototypes on display among the 1,100
exhibitors. Developers plan to sell the device as a way to track mentally disabled people or

seniors who have Alzheimer's disease.
Where would you be without GPS?

Perhaps carrying fewer gadgets: The technology is being added to shoes, MP3 players, dogs

By Carolyn Y. Johnson | Boston Globe | February 19, 2007

This month, GTX Corp. launched a line of Xplorer Smart GPS shoes that transform sneakers into
a wearable LoJack system.

ABI Research found that the number of people in North America who subscribe to GPS-enabled
location-based services more than doubled between 2005 and 2006, from 1.6 to 3.9 million. The
number of subscribers is projected to rocket to 52 million in 2011.

That means companies working in what used to be a niche market have been enjoying explosive
growth. Revenues at TomTom NV, a Concord-based maker of personal navigation products, have
increased more than 500-fold since 2001, from $2.5 million to an estimated $1.7 billion last

year. Garmin's business has exploded into the mainstream, too, and the company ran its first
Super Bowl ad this year. Boston-based start-up Skyhook Wireless brings location awareness to
any device with WiFi, and announced a major partnership this month with GPS platform maker

SiRF.
Xplorer shoes offer advanced personal location services

from Wearable Electronics

January 29, 2007 - We’ve written several times about the concept of electronically fencing dogs
and cats for their safety, or the safety of others. Similarly, as GPS technologies have become
commercially viable, of tracking assets and loved ones to ensure their safety. Now personal
location services company GTXC Corporation, is set to unveil a line of Xplorer Smart GPS shoes
at the World Shoe Association (WSA) in Las Vegas on February 1 which offer a range of new
opportunities. Xplorer shoes incorporate a small and robust GPS tracking device which hooks up

with GTXC's internet user portal to offer a very compelling array of personal location services.
Integrated GPS Shoes by GTXC

Getoutdoors.com Outdoor Blog - Friday, February 2. 2007

HOUSE_OVERSIGHT_032097
"
IMAGES-001-HOUSE_OVERSIGHT_011809.txt,"/ BARAK / 52

was now chief of staff, to ensure we had a plan to get our troops out as quickly and
safely as possible once the order was given. But complex though the operational
issues were, that was not the most difficult part. The withdrawal had not just a
military aim, but a critical political one: to denude Hizbollah, with full
international support, of its “occupation” fig-leaf for targeting and terrorizing the
towns and villages of northern Israel. Shaul and a number of other generals in the
kirya tried to make the security argument for keeping several small hilltop outposts
just north of the border. But I insisted not a single Israeli soldier or emplacement
remain on Lebanese soil. Throughout the spring, we had been coordinating every
detail of the planned pullout with UN cartographers on the ground, to ensure that
they, too, recognized it would be a fu// withdrawal to the border, fulfilling the
terms of the Security Council resolution adopted after the 1982 Lebanon War.

Ordinarily, an operation on this scale would have been carried out over a period
of weeks. But when we handed over a pair of military strongholds to the South
Lebanon Army, and Hizbollah promptly moved in to take them over, it was clear
that even several days might risk chaos, and casualties, as we left. The head of the
northern command now supported an immediate withdrawal, and I agreed.
Frustratingly, we did have to hold off for a further 36 hours, in order to ensure the
UN staff on the ground could complete their verification process. But on the
afternoon of May 23, alongside Shaul Mofaz at a command post on the border, I
ordered the pullout of all Israeli troops, vehicles and other equipment within the
space of 24 hours. I then flew back to Jerusalem for an urgent meeting to secure
formal cabinet approval. The field commanders ended up getting it done in /ess
than 24 hours, mostly overnight, without a single Israeli casualty. For nearly two
decades, our troops had been serving and dying on a strip of land on which we had
no claim, no settlements, and for which there was no rational security need.
Finally, we were out.

As I should have anticipated, there were accusations from Hizbollah and its
allies that our UN-verified withdrawal was incomplete. At issue was a cluster of
villages where Lebanon meets Syria, known as the Sheba’a Farms. But as I knew
first-hand, they were not part of Lebanon. I’d met their Syrian inhabitants when I
helped “capture” the villages at the very end of the 1973 war on the Golan. When
Syria now publicly supported Hizbollah’s efforts to get the UN to say the area was
in fact part of Lebanon, I decided to call their bluff. Through the Americans, I

338
HOUSE_OVERSIGHT_011809
"
TEXT-001-HOUSE_OVERSIGHT_031156.txt,"﻿From: us.gio@jpmorgan.com
To: Undisclosed recipients:;; 
Subject: On today's financial market developments
Sent: 8/4/2011 11:41:48 PM
Attachments: 08-04-11 - EOTM - Market update.pdf

This is a little unorthodox, but here is the text of an internal note that I just sent to our integrated Private Bank client coverage teams a few moments ago.  Mary thought it would be a good idea to share this with our clients given the events of the day.

 

“Here is what I plan to say at our Aspen Insights conference tomorrow about today’s events.  The last two weeks have been a severe setback for financial markets and the global recovery.

 

[1] Today, Italian equity markets sold off sharply and were eventually shut down after the ECB (for now) rejected being the buyer of last resort for Italian government bonds, as the markets were hoping.  The Bundesbank apparently has objections to the idea.  This is a problem: Italy has issued around as much public debt as Germany, but is a considerably smaller country with almost twice the debt load as a percentage of its GDP.  Absent a decision by Germany to move to Federalism or a lot more debt monetization by the ECB, the European Monetary Union (as it is currently configured) could be facing its final stretch.  Today’s reported move by Italian regulators to seize documents at Moody’s regarding declines in Italian bank stocks is an indication of the pressure the system is under, and the possible search for scapegoats.  I don’t think you will find a firm that has written more often and more direly about the structural inconsistencies of the EMU than we have (I have a 2-year bibliography of what we said and when, if anyone wants it).  The “Sick Men of Europe” paper from February 2010 and “Don Quixote Thanksgiving” from November 2010 go into the greatest detail on why.  Our concerns sky-rocketed upon Greece’s financial disclosures in November 2009, after which we took portfolio decisions to back that up, purging exposures to the GIPSI countries from our credit, government bond and equity portfolios.  Since early 2010, our underweight positions in Europe represent the largest regional underweights we have ever held.

 

[2] Will there be another recession in the US?  Our friend Marty Feldstein at Harvard puts the odds at 50-50.  Sell side and buy side economists missed last month’s US economic rollover by a country mile, so I am not sure how much weight to put in their current forecasts.  Most summarily dismissed our concerns that the recovery earlier this year had elements of a stimulus-driven mirage.  Bridgewater Associates was the only firm we spoke to that consistently highlighted the broader process of household deleveraging; and cautioned that when stimulus faded, so would the US economy, given the weakness in household income.  Their insights have been invaluable to us in terms of not stepping into this and taking too much risk prematurely during the three market swoons this year.   Our central scenario for the US in 2012 is not another recession, but low growth in the 2.0%  range, which is enough of a problem given the low job creation that entails.  Note that the CBO assumes growth rates of 3.0% to 3.6% over the next few years in their analyses of future US federal debt levels. 

 

[3] Do not blame today’s events on the debt ceiling debate, US politicians or European regulators.  If we get to the point where economic and profit fundamentals in a given market or region are not sustainable on their own, then we should be underweight that region (as in Europe).  Owning an asset class under the assumption that there will always be a “Lord of the Flies” type rescue from Central Banks and Treasuries is very risky, and historically, fraught with failure.  I remember similar logic in the summer of 1998, when the accepted mantra was that the US would bail out Russia and Boris Yeltsin, since President Clinton would not want to see a nuclear power like Russia slide back into Soviet rule, or anarchy (that view turned out to be wrong).   Anyone market-weight European risk out of the expectation that “Trichet and Merkel will fix surely it” is taking a binary risk that impossible to handicap.  Similarly, we should not start buying anything just because we think Qe3 is coming in the US (in the form of securities purchases, a permanently controlled long bond, etc). 

 

[4] When we began this year, I made the following decision: we would risk underperforming if there was a strong equity rally, out of concerns about the macroeconomic landscape (weakness in the West, inflation in the East).  As a result, we have held less equity exposure than usual for a period of high margins, low P/E multiples and strong earnings.  Instead, we’ve held larger exposures to investment grade and high yield credit, and hedge funds.  Over the last couple of years, our hedge funds (long-short funds with low net positions, macro hedge funds, distressed credit) have helped cushion portfolio returns when markets declined.  We won’t know until the data comes in, but we expect the same to happen this time.

 

[5] The “Eye on the Market” has endlessly chronicled this year the fissures which are now affecting financial markets: European sovereign risk and inadequate bank capitalization; weak labor compensation as an Achilles heel of the US profits recovery, given its negative impact on spending; the political divide in Congress over how to deal with falling government revenue and rising entitlement spending; inflation risks in Asia and Latin America and the resulting need for more policy tightening; and the mixed track record of low interest rates to sustainability solve structural problems.  The cover of the 2011 Outlook (a printing press, out of control) expressed our concern regarding a recovery built upon a stimulus machine.   I would contrast this with the cover of a competitor’s 2011 publication, which had a picture of George Washington crossing the Delaware, with the caption “America’s structural resilience, fortitude and ingenuity will carry the economy and financial markets in 2011 – and beyond”.   Our job is not to point to where we would like the financial markets to go, but rather to point to where they might end up.  It’s like the scene in Oliver Stone’s Nixon, when Nixon looks up at a portrait of JFK and says, “When they look at you, they see what they want to be. When they look at me, they see what they are.”  Our job is to see financial markets for what they are.

 

[6] All that said, we have lessons to learn here.    

 

Too many of our investment discussions this year focused on the negative real return characteristics of cash, and why to reduce it.   In a world of deflation risk on financial assets (rather than of goods and services), cash retains substantial option value at times like these.  

 

We could have connected the dots more aggressively on our views on weak growth and easy monetary policy, and owned more gold.  While we have had rising price forecasts for gold and owned it in portfolios, we did not have large enough allocations. 

 

Given the all-time high of US government transfers to households and negative real interest rates, we should not have interpreted positive economic data earlier this year as being highly representative of the true run-rate of the US economy.  The same goes for the global economy, which has been the beneficiary of a lot of stimulus that is now fading, for a variety of economic and political reasons.

 

Great corporate profits are no guarantee against a problem in financial markets.  Corporate profits and P/E multiples were fine in June 2007, but rested on top of a systemic problem in private sector credit markets and private sector balance sheets.  This year, strong corporate profits and low P/E multiples sit on top of systemic problems in public sector finances.  

 

[7] In the wreckage, as usual, there are opportunities, and we will be reviewing them with you in the days ahead.   There is a benefit to having held back on our firepower this year.  With risk to spend held in reserve, there are oversold assets with considering, particularly among multinationals with strong balance sheets, high dividends and which trade at very low multiples, something we reviewed earlier in the week.”

 

Michael Cembalest

Chief Investment Officer

 

The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P. Morgan employees and affiliates.  This information in no way constitutes J.P. Morgan research and should not be treated as such. Further, the views expressed herein may differ from that contained in J.P. Morgan research reports.  The above summary/prices/quotes/statistics have been obtained from sources deemed to be reliable, but we do not guarantee their accuracy or completeness, any yield referenced is indicative and subject to change. Past performance is not a guarantee of future results. References to the performance or character of our portfolios generally refer to our Balanced Model Portfolios constructed by J.P. Morgan.  It is a proxy for client performance and may not represent actual transactions or investments in client accounts. The model portfolio can be implemented across brokerage or managed accounts depending on the unique objectives of each client and is serviced through distinct legal entities licensed for specific activities.  Bank, trust and investment management services are provided by J.P. Morgan Chase Bank, N.A, and its affiliates.  Securities are offered through J.P. Morgan Securities LLC (JPMS), Member NYSE, FINRA and SIPC. Securities products purchased or sold through JPMS are not insured by the Federal Deposit Insurance Corporation (""FDIC""); are not deposits or other obligations of its bank or thrift affiliates and are not guaranteed by its bank or thrift affiliates; and are subject to investment risks, including possible loss of the principal invested. Not all investment ideas referenced are suitable for all investors. Speak with your J.P. Morgan Representative concerning your personal situation.  This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Private Investments may engage in leveraging and other speculative practices that may increase the risk of investment loss, can be highly illiquid, are not required to provide periodic pricing or valuations to investors and may involve complex tax structures and delays in distributing important tax information. Typically such investment ideas can only be offered to suitable investors through a confidential offering memorandum which fully describes all terms, conditions, and risks.   

 

IRS Circular 230 Disclosure: JPMorgan Chase & Co. and its affiliates do not provide tax advice.  Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with JPMorgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.  Note that J.P. Morgan is not a licensed insurance provider.  © 2011 JPMorgan Chase & Co; All rights reserved

 

This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email. 

"
IMAGES-010-HOUSE_OVERSIGHT_029798.txt,"environments where young people can be
on a quest, not just for a job, but for a
career — for a better life that doesn’t just
surpass but far surpasses their parents.”
Countries that fail to do that will have a
youth bulge that is not only unemployed,
but unemployable, he argued. “They will
be disconnected in a connected world,
despairing as they watch others build and
realize their potential and curiosity.”

If your country has either a strong
government or a strong civil society, it
has the ability to rise to this challenge. If
it has neither, it will have real problems,
which is why Egypt 1s struggling. China
leads in providing its youth bulge with
education, infrastructure and jobs, but
lags in unleashing freedom and curiosity.
India is the most intriguing case — if it
can get its governance and corruption
under control. The quest for upward
mobility here, especially among women
and girls, is palpable. I took part in the
graduation ceremony for The Energy and
Resources Institute last week. Of 12
awards for the top students, 11 went to
women.

“India today has 560 million young
people under the age of 25 and 225
million between the ages of 10 and 19,”
explained Shashi Tharoor, India’s
minister of state for human resource
development. “So for the next 40 years
we should have a youthful working-age

HOUSE_OVERSIGHT_029798
"
TEXT-001-HOUSE_OVERSIGHT_030248.txt,"﻿	The Special Counsel's office, nearly leak-proof since its inception more than a year ago, can appear to be operating in some parallel universe unmoved by the every-day political turmoil. But in the course of conversations I've had researching a new book on President Trump and the forces arrayed against him, it has become clear that Robert Mueller and his office are already preparing for a life or death confrontation with the President and the mother of all constitutional crises.
	Over the last several months the Mueller office has prepared a possible indictment of the president on charges related to obstruction of justice and devised a legal strategy to navigate the inevitable fallout from such an indictment.
	My discussions have been with both White House advisors and people close to the investigation—that is, sources on both sides of the possible conflict. No source involved in this story would speak on the record. But in broad-strokes each side's understanding matches the account provided to me by the other side.
	The Special Counsel has in place a set of allegations, proposed charges, and an aggressive legal theory to support the indictment of the president on obstruction charges. In the last few weeks, as the President has indulged his pardon authority, the Mueller team has also developed a legal basis to oppose what the Special Counsel believes will be a likely pardon of former National Security Advisor, Michael Flynn—who had previously struck a plea bargain which could include his testimony against the President—and what it believes to be another step in the President's obstruction efforts.
	At this point, the case for indictment has, in effect, a judge of one, since the Mueller team must get the approval of Deputy Attorney General Rod Rosenstein to proceed. As recently as April, Rosenstein publicly declared that the President was not a target, but this may have been a kind of fig leaf: technically the President does not become a formal target until Rosenstein agrees to designate him as one. It may also illustrate a conflict between the Deputy Attorney General and the investigators he has overseen since the recusal of Attorney General Jeff Sessions from the Russia-related investigation—though, according to one source, Mueller believes he does have the support of his boss.
	The proposed indictment would be all the more controversial because it finds the entire narrative of the case for obstruction in plain sight. Almost nothing in it involves new information; rather, it takes well-covered public events and moves them to a set of circumstantial conclusions. There is no smoking gun beyond the often flagrant, custom-breaking, events of the President's 16 months in office. Indeed, much of the evidence is based on the President's public statements and tweets about those events. ""This indictment could have been drafted without anyone being interviewed,"" said one source. This is, from the perspective of White House sources good news: the case then, is just an issue of what motives are ascribed to the President's behavior—behavior that is, the President's supporters believe it is easy to show, impulsive and not thought out. Hence no intent. For the Mueller team, it is precisely that careless behavior and flagrant disregard for constitutional standards that they hope to put on trial.
	According to a source involved in the Mueller strategy, the plan to indict the President is now ""more advanced"" than it was when the terms of the indictment were agreed earlier in the year. In the intervening months, the president’s lawyers, spokespersons and surrogates have staged a very public debate about whether such a legal proceeding would be constitutional—in effect trying to discredit, ahead of time, any prosecutorial action the Special Counsel’s office might take. This may be a preemptive response to an indictment they expect is forthcoming. It may also be an effort to pressure Rosenstein. It may even be an effort to convince Mueller of that, since some in the White House believe that that the plan to indict is not a strategy yet embraced by the whole Special Counsel’s office, but one that is being advocated only by its most virulently anti-Trump purists on the investigative team—most notably by the number two lawyer under Mueller, Andrew Weissmann.
	It may be noteworthy that there appears now not to be plan for an indictment related to collusion, although, legal experts say, that could come later and may depend on new information from the investigation of the President's personal attorney, Michael Cohen. It is also possible that alternative plans have been made—preparation for more expansive indictments, for instance, or for a broader report that would include the allegations of obstruction but not seek to indict the President. 
	The White House view is that without the underlying collusion charge—""real collusion,"" in the words of one White House advisor, ""and not just a bunch of Facebook ads and some trolls""—Mueller will be presenting a weak and politically-motivated case. ""That's a witch hunt,"" said the advisor. The view of the Mueller team, or at least that of its most ardent members, seems to be that the obstruction charges go to the very heart of exposing how Trump has abused his power and turned the White House into a corrupt fiefdom.
	According to one source, Mueller could hardly contain his disgust when last month Rudy Giuliani, the President's new lawyer—hired to make a case for the President on television and to push back against the Mueller team—airily dismissed the notion that a sitting president can be indicted. Adding insult to injury, Giuliani—who a White House source said has likely learned of aspects of the pending indictment—said Mueller agreed with that assessment. White House sources believe Giuliani was daring the Special Counsel to tip his hand. But Mueller, ever in character, contained his outrage and continued to hold his cards close, as his team finished preparing the obstruction case and refined the legal theories under which it would claim the right to haul the president into court.

	According to the proposed indictment, the President's scheme to obstruct the FBI's investigation into connections between the Trump campaign and Russian efforts to undermine the U.S. election began on the 7th day of the Trump administration. Three days prior, on January 24, National Security Advisor, Michael Flynn, lied to the FBI about his contacts with the Russian Ambassador, Sergey Kislyak. From January 27th, when the President had the one-on-one dinner with FBI Director James Comey, through to the middle of April, the President conducted a cat and mouse game with Comey, testing his loyalty and trying to establish his willingness to aide the President and protect Flynn.  On May 9th, baldly admitting his dissatisfaction with Comey's unwillingness to play ball on Russia, the President fired the FBI director. Shortly thereafter, continuing his efforts to disrupt the investigation, the President turned his ire on the Attorney General, Jeff Sessions, pressuring him to fall into line on the President's behalf, and on Robert Mueller, the newly appointed Special Counsel, pushing to fire him to block the investigation. 
	The second episode that the Mueller teams has focued on took place on July 8, on Air Force one, when the President personally directed his son, Don, Jr., to lie about the reason for his meeting in Trump Tower, during the campaign, with representatives of the Russian government—a meeting about collaborating with the Russians to undermine Hillary Clinton's campaign. 
	The third episode began on June 7th, after reports that Deputy FBI Director Andrew McCabe would confirm statements made by James Comey about how the president had tried to intimidate him. In response, the President began a campaign of harassment, threats, and intimidation against McCabe. On March 16, 2018, after McCabe testified before Congress, the President, in retaliation, caused his dismissal and the loss of his pension.


	The Mueller team may have a high hurdle in convincing Rosenstein to approve the indictment. The Department of Justice's standing view precludes charging a sitting president with a crime. This is based on an opinion written by the Office of Legal Counsel in the Watergate era and recently expressed in hyperbolic terms by Giuliani: the President could kill James Comey if he wanted to without fear of prosecution. But, according to several former DOJ lawyers, Rosenstein in this circumstance may have the power to override the Office of Legal Counsel opinion. In effect, finding that the standing opinion does not cover the present circumstances. In one view—and in the suspicion of some in the White House—he may have already authorized Mueller to proceed with the indictment.
	The White House has made the argument—supported in many television appearances by Trump legal surrogate, Alan Dershowitz— that a president cannot be prosecuted for exercising his constitutional prerogatives, even if those actions foster a crime; the President, as the ultimate federal office, and the nation's chief law enforcement officer, enjoys nearly unfettered latitude in how he carries out his duties. ""I don't think you are going to find a court who will not see the president's role as unique,"" said one White House advisor. ""The Mueller theories are wishful thinking.""
	An indictment for obstruction of Justice is described in similar ways by both Mueller and White House insiders: it puts the President's public behavior on trial. The nature of that behavior, for the Mueller team, is corrupt; this, according to the White House, is how voters elected the President to behave.
	The Special Counsel seems less worried about its legal position than it does about it's existential one—continuing to anticipate how the President might use his authority to move against it. 
	According to insiders, the team has meticulously prepared for most contingencies it might face from an impulsive president who feels few restraints about the way he deals with his adversaries. He could act unilaterally and shut down the investigation, forcing a legal test likely before the Supreme Court. He could order the Attorney General—even given his prior recusal—to repeal the Special Counsel regulations and close down the investigation, and fire him if he refused. Or he could fire Rosenstein and seek someone else to oversee the investigation in ways more to his liking. The Mueller team continues to believe it is protected by political realities—the President can not know how Congress might respond, and it might well respond with impeachment. At the same time, it has tried to game out the uncharted legal areas of exactly what happens to all of its ""work product"" and to the sitting grand juries if the investigation is in fact shut down or its mission altered.
	Likewise, people around the President—embracing a constitutional face-off as militantly as they maintain the Mueller investigation is—say this unknown legal area that might be advantageous to the President. The delays and disruption that result as courts sort out the ramifications of the President's actions might well be the President's legal friend—the reason some in the White House have been urging the President to end the investigation, whatever the political fallout. 
	The President's constitutional pardon powers appear to be some of the most troubling and threatening issues for the Special Counsel. The Counsel's office believes the President will use his pardon power as an instrument to undermine the investigation.
	According to present and former White House advisors, the President's recent spate of pardons are in part his way of taunting the Special Counsel. The White House, according to these sources, is aware that the Special Counsel has concluded the President's pardon power is near absolute: the President can certainly pardon himself, and others involved in the investigation. 
	Most immediately, the Special Counsel's office believes that the President will pardon Michael Flynn, perhaps in the coming weeks. The question for the Mueller team is if it can build an exception to the President's pardon authority. It's view here falls back on the egregiousness of the President's own behavior: there is a level of obstruction of justice that all reasonable men might know when they see it. If you pardon someone to get yourself off the hook, that's obstruction, and subverting the rule of law and the constitution you've pledged to uphold.

	As the President, by nature and design, tries to claim aggressive new powers, the Mueller team, almost in equal proportion, is trying to limit the theory of Presidential power and, even, to criminalize an expansive exercise of those powers. 
	People who know and have worked with Mueller find it, at best, unexpected that this traditional by the book G-man would be pursuing such far-reaching legal theories. But one possible explanation, shared by many in the White House, is that Mueller is overly reliant on his staff—in fact, is being led by his number two, Andrew Weissmann.
     Weismann has a longstanding reputation for aggression: he was the prosecutor whose pursuit of the accounting firm Arthur Anderson in the Enron debacle ended in its conviction—a judgment reversed well after the firm's bankruptcy and dissolution. One White House advisor likened him to Victor Hugo's obsessed policeman Inspector Javert—a prosecutor consumed with taking down the President. Indeed, Weissmann, who has in the past contributed to Democratic candidates, is a particular bet noir and favorite whipping boy for the White House his central role in the Mueller investigation taken there as evidence of a deep bias against Donald Trump. 
	But in another view it is precisely because Mueller, a former Marine, is so by the book and Semper Fi that he finds Trump's behavior to be personally offensive, and, on its face, corrupt. ""Bob Mueller is all about limits and rules. Donald Trump has none and acknowledges none,"" said one lawyer who has worked with Mueller in the past.
	It may yet be even a more profound clash then that, the executive branch at war with itself—the Justice Department against the White House. In this, the President's almost daily tirades against the DOJ, the Attorney General, Jeff Sessions, the Deputy Attorney General, Rosenstein, the former head of the FBI, Comey, and his former deputy, Andrew McCabe, are part of an effort to obstruct justice and save himself.
	The Mueller strategy (or Weissmann strategy) is a war strategy, in the view of some legal observers. An indictment of the President would be litigated to the hilt. It would force both the substantive issues of obstruction and abuse of power and the meta issues of Presidential immunity—in essence, the President's claims to being above the law—into open court for a long and painful review and dissection that might shadow the November election. 
	Legal experts believe that the Mueller team might well prevail in lower courts with a much less certain outcome in the Supreme Court. 
	Were the case to reach the Supreme Court after the November election, it might well be the results of that election that help seal the President's fate not just in Congress but also in the courts.
	""Might such an expansive claim win, yes. Should it win, no."" But everyone knows the reality: weak presidents lose cases, strong presidents win them,"" said Ken Starr, the former independent prosecutor who might know more about the legal pursuit of the president than anyone else on earth.




"
IMAGES-010-HOUSE_OVERSIGHT_028486.txt,"From: Ehud Barak is

Sent: 4/23/2015 1:34:41 PM

To: Epstein Jeffrey [jeevacation@gmail.com]

Subject: Fwd: What Iran nuke deal means for Israel: Enud Barak
Hi Jeff

Bill Clinton 1994.

Food for thought.

EB

http://video.cnbc.com/gallery/?video=3000369298

Sent from my iPhone

HOUSE_OVERSIGHT_028486
"
IMAGES-008-HOUSE_OVERSIGHT_026111.txt,"On Sun, May 28, 2017 at 8:10 AM, Nicholas Ribis <i > wrote:

Call me now if u can

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Sunday, May 28, 2017 6:03 AM
To: Nicholas Ribis

Subject: Re:

ping me when awake

On Sat, May 27, 2017 at 6:23 PM, Nicholas Ribis ht: wrote:

Yes but bad time call me at 8 or early tomorrow

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Saturday, May 27, 2017 6:20 PM
To: Nicholas Ribis

Subject: Re:

are you on cell?

On Sat, May 27, 2017 at 6:14 PM, Nicholas Ribis <i > wrote:

Wow | wonder what Jarred did u know DJT knew!

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Saturday, May 27, 2017 6:11 PM
To: Nicholas Ribis

Subject:

getting hotter

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026111
"
IMAGES-010-HOUSE_OVERSIGHT_029940.txt,"making public since publication was its purpose (it appeared in his
commentary in The New York Times Magazine), he said he was
“struck” and “puzzled” by the fact that “57 percent of the French
public” and, in particular, “70 percent of the Socialists” seemed to
embrace the cause of Dominique Strauss-Kahn, whereas “one might
expect” them “to be ideologically empathetic to an African hotel
maid.”

I’m not saying that Keller was among those who found the powerful
and white banker antipathetic. And I would say so even less since the
Times ultimately provided the first elements of truth leading to the
spectacular turnaround we are witnessing.

But I maintain that formulating the problem in these terms—bringing
up political categories in a debate in which they are not relevant, in a
word, introducing ideological considerations in an area with which
they have nothing to do—is, in itself, very disturbing.

And I maintain—as I have said and repeated here and elsewhere—
that the very fact of admitting that empathies of this sort can enter
into the realm of justice amounts to inventing a class justice in
reverse, no less problematic nor, ultimately, less criminal than the
former.

It’s no longer, as it once was, “bastard poor, the rich are always
right,” but rather, “rich bastards, it’s the poor and the injured who are
always, and inevitably, right.”

4. Another temptation typical of our era is the sacralisation of the
victim’s word.

Let me make it clear. If there is a lifelong combat I have led of which
I am proud, it is that which consists of giving voice to the humble and
to those who have no voice. It is a combat I have fought in Bosnia, in
the confines of Asia, in the forgotten wars of Africa but also, and as
much or nearly so, in our officially democratic world where it took

HOUSE_OVERSIGHT_029940
"
IMAGES-012-HOUSE_OVERSIGHT_033119.txt,"period...That is below the share the company’s newest models typically get in
a given cycle.” Will a $1,200 iPhone cross the limits of what the market will
tolerate?

Landon Thomas, Jr.
Financial Reporter
New York Times

http://topics.nytimes.com/top/reference/timestopics/people/t/landon_ jr thomas/index.

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_033119
"
IMAGES-009-HOUSE_OVERSIGHT_026570.txt,"EREKEKREKREEEEEERERERERERE EERE REREREREREREREREREERERERERERERE

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@qmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026570
"
IMAGES-006-HOUSE_OVERSIGHT_020622.txt,"163

intervened with hotels where activities involving Taiwan (such as trade shows) flew

the flag of the Republic of China. Probably in view of the costs incurred by cancelling
a contract with their Taiwanese partners, the addressees in general did not comply.

In a similar incident, at the first of a series of tournaments between German third
league soccer clubs and Chinese soccer clubs, the Chinese coach demanded that
spectators be forbidden from holding up Tibetan flags. The German soccer association’s
representative did not comply and no more football matches have been held.

Business

Close relationships, often decades old, between various enterprises and business
associations (including a newly established one on the Belt and Road Initiative) are
nurtured by the Chinese embassy, consulates, and representatives from Beijing. The
Chinese government provides financial and logistical support for events like the
Hamburg Summit or Asia Pacific Days in Berlin. A long-standing practice has been to
include CEOs of major enterprises in advisory boards of mayors of major Chinese cities
and provinces (remuneration seems not to play a role).

The issue of “weaponized” investment is growing in importance. In 2016, Chinese
companies spent 12.5 billion euros on investments in Germany—about as much as the
total investment of the entire previous decade. The main targets have been successful
technology companies. The blitz has subsided in the wake of greater political scrutiny
beginning in 2017 and German efforts, along with those of the United Kingdom and
France, to limit China’s ability to buy, borrow, or steal leading European technology.

German enterprises in both China and Germany are major targets for information
campaigns related to the Belt and Road Initiative. Enterprises generally respond
positively although with circumspection (only 36 percent of German companies in
China expect positive effects for their business). Especially large enterprises (e.g.,
Siemens) have played along and created their own “BRI Task Forces.” Siemens CEO
Joe Kaeser said in Davos in 2018 that the Belt and Road would become the “new
WTO.” Similar to instances elsewhere, when the Daimler company used a quote from
the Dalai Lama on its Instagram account, it was confronted with massive protests in
China’s media and it apologized publicly—twice—to China. The city of Duisburg (one
of the terminals of the trans-Eurasian railroads) in January 2018 reached a “strategic
cooperation” agreement with Huawei to turn Duisburg into a “smart city.” That entailed
having Huawei build a “Rhine Cloud” to host Duisburg’s data.?

Media

German media have, for decades, been the target of official and unofficial Chinese
criticism that they are “anti-Chinese.” China’s state-run media have sought to

Appendix 2

HOUSE_OVERSIGHT_020622
"
IMAGES-007-HOUSE_OVERSIGHT_023762.txt,"16 Teaching Minds

I analyzed how I was swinging, when I was swinging, and what
kinds of pitches I was swinging at, and I came to many different con-
clusions. I realized I needed to wait longer before I swung. I realized I
had to stop swinging at inside pitches (the ones that almost hit you).
I realized that I had to stop swinging at pitches that looked good but
yet dropped in front of my feet. I realized I had to see the ball hit the
“sweet spot” on the bat. I realized I needed to change my whole ap-
proach to hitting, in fact.

OK. I realized a lot. I had come to many conclusions. Now what?
Just do it, right? Aha. Not so simple.

You can’t just do what you know you should do. Why not? Be-
cause your subconscious isn’t listening to what you have to say. This is
why you don’t tell a little kid how to walk and talk. Apart from the fact
that he wouldn’t understand you anyway, even if he could understand
you, the part of his mind that would be doing the understanding is
the conscious part. Cognitive process-based teaching teaches noncon-
scious processes a good deal of the time.

A child learns a lot more from falling down than he ever will learn
from hearing Mom say, “Watch your step.”

We are wired to learn from failure. Those who don’t learn from
failure typically die young. We are descended from people who learned
not to eat certain poisonous plants, and not to travel in a way that
would expose them to danger, and to stay near their mates, and to
protect their offspring. Those who didn’t do these things, those who
didn’t learn from their own failures and from the failures of others,
didn’t get to have surviving offspring. The human race exists precisely
because it is capable of learning from failure, both individually and
collectively.

Did you ever wonder why what you learned in school isn’t still in
your head, or why you can’t remember what your wife wanted you to
get from the store on your way home? Or, why the things you have
decided to do to improve your business or make more money or be a
better person actually don’t ever get executed? The answer is simple:
You can’t learn by listening—not from teachers, not from your wife,
not from helpful suggestions from wise people, and not even from
yourself.

Why not? Because it is your subconscious that is in charge of ex-
ecuting daily activities—from swinging a bat, to driving home, to talk-
ing to people you want to make an impression on, to getting along
with your wife. Your conscious mind can make decisions, but your

HOUSE_OVERSIGHT_023762
"
IMAGES-008-HOUSE_OVERSIGHT_025430.txt,"Sender: i’

Time: 02/27/19 07:22:24 AM (572973744)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 2FCBE738-3D79-4939-989F-DECO95D784DA

Message: Thanks!

Sender: e:jeeitunes@gmail.com

Time: 02/27/19 07:41:42 AM (572974902)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 8FD4DCDD-87AE-475E-8 60E-1346E9D9D6B2

Message: Are you chewing

Sender: ay

Time: 02/27/19 07:42:05 AM (572974925)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 1D6EDBEO-437D-477D-Al1A5-8EDC867ECCC8

Message: Not any more

Sender: e:jeeitunes@gmail.com

Time: 02/27/19 07:42:15 AM (572974935)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: BDB8DAOA-D06A-42A9-B7B7-5C11BA6BEFA1

Message: :;)

Time: 02/27/19 07:44:54 AM (572975094)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 4BB520CD-4EFF-4B4A-A6DB-7FCED3CFCE45

Message: Chewing interior of my mouth. Bad habit from middle school

Sender: e:jeeitunes@gmail.com

Time: 02/27/19 07:45:38 AM (572975138)

HOUSE_OVERSIGHT_025430
"
IMAGES-004-HOUSE_OVERSIGHT_016561.txt,"Code Enforcement Board Meeting Minutes 07/17/08

Sgt. Krauel continued his presentation remarking that once Duke had been found
“potentially dangerous” by Animal Care and Control, there had been another
attack but due to an administrative error by Animal Care and Control in failing to
document their records appropriately, Duke was classified as “potentially
dangerous” again. This is an error that Animal Care and Control completely
acknowledges.

After the last attack on May 11, 2008, Duke was taken into custody by Animal
Care and Control and after a hearing, was classified as “dangerous”. Sgt. Krauel
noted that the hearing before Special Magistrate Earl Mallory did not classify
Duke as vicious because Duke had no documented cases of attacks on humans.
After this last case was reviewed by Code Enforcement, sufficient evidence was
also found by the Town to classify Duke as dangerous and Dr. Lynn was notified
by registered mail. Dr. Lynn appealed to Town Council and that appeal was
denied by Town Council by a 5-0 vote. The Town recommends a finding of non-
compliance with Chapter 10, Section 10-6 as the Town has the two required
affidavits of residents of the Town occupying separate households. The Board
was provided with copies of four (4) affidavits.

Sgt. Krauel then proceeded with an explanation of Chapter 10, Section 10-45 and
said the Town was requesting a separate motion for a finding of non-compliance of
Chapter 10, Section 10-45 (i) and that Dr. Lynn be given until July 18, 2008 to
come into compliance by either removing the dog from the Town or having it
humanely euthanized. If compliance is not achieved, the Town recommends a
daily fine of $250.00 a day commence on July 19, 2008 and continue until
compliance is achieved.

Mr. Randolph requested the Board treat these two sections of the Code separate
and apart. He said the first evidence heard related to Section 10-6 (3) and
involved the affidavits from the residents of the Town. Because of the dispute Dr.
Lynn’s attorney has with regard to the manner that Section 10-45 was applied, Mr.
Randolph recommended the two Code sections not be mixed up. Mr. Randolph
said he would like for the Board to first consider whether there had been a
violation of 10-6 and to make a motion one way or the other with regard to the
Staff's recommendation. He then requested that Section 10-45 be entertained
separately after Dr. Lynn’s attorney and anyone else who wanted to speak had an
opportunity to do so.

Vivian Dorris, 155 Brazilian Ave., said her beagle/bassett, Charlie, was viciously
attacked by Dr. Lynn’s dog, Duke and she has sustained approximately $8500 in
vet’s bills. She said her dog will never walk properly again because of severe
nerve damage. She does not feel there are enough precautions being taken for the
safety of residents on Brazilian Ave. She asked that the Board take this into
consideration and thanked them for their service.

Wayne Gerl, 149 Brazilian Ave., said he has two dogs and every time he exits his
driveway or front yard, he has to stop and peek around and make sure the other

8

HOUSE_OVERSIGHT_016561
"
IMAGES-011-HOUSE_OVERSIGHT_030870.txt,"The Trump circle believe those career bureaucrats are out to get them, while NSC staffers are concerned the
president isn’t up to the job and resent the politicization of the agency by appointing Bannon to the council.

Staffers fear Kushner because he’s so close to the president, and they aren’t really sure of his official role in the
White House.

For his part, Kushner is furious at reports that New Jersey Gov. Chris Christie has been saying he will join the
White House as part of a “second wave” after the president’s son-in-law got him banished from the transition
team as retribution for prosecuting his father.

Sources said Trump often asks simple questions about his job, and he usually changes the subject when
discussions become too detail-oriented to make it seem as if he’s in control, said one senior government official.

Trump prefers to hand off detailed questions to his son-in-law, Jared Kushner, or to chief strategist Steve
Bannon or House Speaker Paul Ryan, the website reported.

Those sources also revealed that Trump has privately expressed disbelief that judges, bureaucrats and
lawmakers are able to halt him from filling government positions or implementing policies.

“He doesn’t like this sh*t,” a source told Politico, referring to the difficulties Trump faced in getting one of his
top fundraisers, Anthony Scaramucci, appointed to a job in the West Wing.

However, sources said Trump appears to enjoy showing visitors around the Oval Office, where he spends most
of his working hours, and keeping tabs on how his staffers look on TV news.

HOUSE_OVERSIGHT_030870
"
IMAGES-006-HOUSE_OVERSIGHT_022035.txt,"JAMES PATTERSON

“Antisocial psychopaths don’t have brakes at all.”

Dr, Salter has never met Epstein, but she’s followed his case
closely and finds him a familiar type. She’s especially struck by
the singular nature of the relationship between powerful, wealthy
men and vulnerable, underage women.

“(The men] are more impressive to a fourteen-year-old [girl]
than to, say, an adult young woman who is self-supporting and
feels more sure of herself,” she explains.

“They are attracted to what they call freshness — barely bud-
ding sexuality and lack of sexual experience. The difference
between them and their victims feeds their ego.

“Great wealth and access are generally factors that make men
feel they are entitled to whomever and whatever they want. Some
have narcissistic personalities with inflated self-images. And of
course, great wealth and status make such men think they can
get away with it. Too often, they’re right.”

On the other hand, Dr. Salter believes that certain condi-
tions, such as the ones exhibited by Jeffrey Epstein, might be an

inborn character trait.

Personality can be influenced, sometimes quite heavily, by

genetics.

“Virtually no one believes anymore that humans are born a —

totally blank slate,” she explains.

“We arrive with temperamental and personality variations ~
that, of course, the environment can often, but not always, influ: ~

ence. We arrive with baggage.”
Is Epstein a born psychopath, then?

“Psychopathy is the umbrella term for individuals who do not :

have a conscience. Pyschopaths are often narcissistic, but

cissists are often not psychopathic. Some individuals who prey”

228

oie 38

E

on young girls delude then
will not harm the child. Tt
medicated it with thinking
pathic and simply don’t cat
can't say anything about Ej
but narcissism and psychop;
look at concerning anyone w
bescent individuals but wh
teens.

“Psychopaths are often si
seekers who are bored if not
manipulate. They do not estz

“They are callous and r
don’t feel bad about harming

“Rules don’t apply to th
They are sure they won't get «

HOUSE_OVERSIGHT_022035
"
IMAGES-002-HOUSE_OVERSIGHT_013256.txt,"340 A Glossary

e Request for Services (RFS): In CogPrime’s Goal-driven action system, a RFS is a
package sent from a Goal Atom to another Atom, offering it a certain amount of STI
currency if it is able to deliver the goal what it wants (an increase in its Truth Value).
RFS’s may be passed on, e.g. from goals to subgoals to sub-subgoals, but eventually an
RFS reaches a Grounded SchemaNode, and when the corresponding Schema is executed,
the payment implicit in the RFS is made.

e Robot Preschool: An AGI Preschool in our physical world, intended for robotically em-
bodied AGIs.

e Robotic Embodiment: Using an AGI to control a robot. The AGI may be running on
hardware physically contained in the robot, or may run elsewhere and control the robot via
networking methods such as wifi.

e Scheduler: Part of the CogServer that controls which processes (e.g. which MindAgents)
get processor time, at which point in time.

e Schema: A “script” describing a process to be carried out. This may be explicit, as in the
case of a GroundedSchemaNode, or implicit, as the case in Schema maps or ungrounded
SchemaNodes.

e Schema Encapsulation: The process of automatically recognizing a Schema Map in an
Atomspace, and creating a Combo (or other) program embodying the process carried out
by this Schema Map, and then storing this program in the Procedure Repository and
associating it with a particular SchemaNode. This translates distributed, global procedural
memory into localized procedural memory. It’s a special case of Map Encapsulation.

e Schema Execution: The process of ""running” a Grounded Schema, similar to running a
computer program. Or, phrased alternately: The process of executing the Schema referenced
by a Grounded SchemaNode. This may be recursive, as the predicate referenced internally by
a Grounded SchemaNode (and represented via a Combo program tree) may itself internally
reference other Grounded SchemaNodes.

e Schema, Grounded: A Schema that is associated with a specific executable program
(either a Combo program or, say, C++ code)

e Schema Map: A collection of Atoms, including SchemaNodes, that tend to be enacted
in a certain order (or set of orders), thus habitually enacting the same process. This is a
distributed, globalized way of storing and enacting procedures.

e Schema, Ungrounded: A Schema that represents an abstract procedure, not associated
with any particular executable program.

e Schematic Implication: A general, conceptual name for implications of the form ((Con-
text AND Procedure) IMPLIES Goal)

e SegSim: A name for the main algorithm underlying the NLGen language generation soft-
ware. The algorithm is based on segmenting a collection of Atoms into small parts, and
matching each part against memory to find, for each part, cases where similar Atom-
collections already have known linguistic expression.

e Self-Modification: A term generally used for AI systems that can purposefully modify
their core algorithms and representations. Formally and crisply distinguishing this sort of
*strong self-modification” from “mere” learning is a tricky matter.

e Sensorimotor: Pertaining to sensory data, motoric actions, and their combination and
intersection.

e Sensory: Pertaining to data received by the AGI system from the outside world. In a
CogPrime system that perceives language directly as text, the textual input will generally

HOUSE_OVERSIGHT_013256
"
IMAGES-001-HOUSE_OVERSIGHT_011821.txt,"/ BARAK / 64

Chapter Twenty-Two

If I believed in omens, I might have turned back as soon as we got to the
summit. We reached Camp David a little before ten at night on July 10, after
helicoptering from Andrews Air Force base near Washington. When we arrived, it
was pouring with rain. The cabin assignments were also a surprise. I was given the
one that Anwar Sadat had at the first Camp David summit in 1978. Arafat got
Menachem Begin’s. Still, the cabins themselves, each named for a tree, were large
and pleasant. Mine was called Dogwood. It had a bedroom, two large sitting rooms
and a terrace. I took it as a good omen that it was the same one where Nava and I
had stayed during our visit with the President Clinton and Hillary right after P'd
become Prime Minister.

With just eight days to address the core issues of decades of conflict, we got
down to work the next morning. Clinton began by meeting Arafat, as I went
through the Americans’ strategy for the negotiations with Madeleine Albright,
Dennis Ross and Martin Indyk. Then I met the President in his cabin, which was
called Aspen. He told me that while Arafat still thought I was trying to “trick him”
into an agreement, and didn’t think we’d necessarily get a deal, he did accept I was
serious about trying. My fear was still the opposite, that Arafat was not serious.
Yet my hope was that the isolated environment of Camp David, and the wide
public expectation that we would accomplish what Sadat and Begin had done there
before, would deliver the breakthrough that I believed ought to be possible. For
that to happen, I told the President, I believed it was essential that Arafat truly
understood the importance of what was at stake. Not just the cost of failure, but
what was potentially on offer: the creation of the Palestinian state he sought, with
the full acceptance of Israel and the support of the world.

I wish I could say I was optimistic when Clinton led the two of us into Laurel
Lodge, the larger cabin a few hundreds downhill from Aspen, for the opening
session of the summit. The scene at the front door — with me bustling Arafat ahead,
with the intention of allowing him to enter before me — yielded the best-known
image from the summit. Captured by the television crews allowed into the
compound for the ceremonial opening, it spawned a cottage industry of political
speculation and armchair psychoanalysis purporting to decipher what it meant.
Some said it was an encouraging sign of “chemistry” between me and Arafat, a not

350
HOUSE_OVERSIGHT_011821
"
IMAGES-008-HOUSE_OVERSIGHT_026139.txt,"and other electronic services. IMF has demanded that the resolution of this issue as
well as the recapitalisation of other banks, as it resulted from the AQRs performed
by NBU, is a prerequisite for the disbursement of its 4th tranche which in fact was
executed successfully by the Ukrainian administration.

As a result the banking sector presented record losses in 2016 of US$6.2 billion
(Privatbank US$5.2 billion). 1Q17 is already in profit (US$220 million) and is
expected to continue increasing throughout the year.

The current landscape is that 40 banks make up the 98% of the assets, the top 20
the 90.2%, the top 10 the 74% and of which 10 the top 4 banks are state owned and
make up the 52% of the assets.

Top 20 banks in Ukraine

Bark Net assets, Market
share by
mn assets, %

{.Prvatbank = | 7,742 17.7 statoownedbanks 518%
2. Oschadbank 7,411 16.9 banks with foreign capital 30 4»,
3. Ukreximbank 5,642 129 | of which

4. Raiffeisen Bank Aval 1,970 45 Russian government owned 84%
5. Ukrgasbank 1,897 43 | Ukrainian banks

6. Sberbank 1,698 39

7. Ukrsibbank 1,596 37

8.FAIUB 1,568 36

9. Alfa Bank 1,371 34

10. Ukrsotsbank 1,305 3.1

11. Prominvestbank 1,169 28

12. Credit Agricole Bank 1,052 24

13. OTP bank 874 2

14. Pivdennyi 727 1.7

15. VTB bank 706 17

16. Citibank 685 16

17. ING bank Ukraine 611 14

18. ProCreditBank 426 1

19. Kredobank 390 09

20. Megabank 317 07

For the State Owned Banks, namely Privatbank, Oschadbank, Ukrexim and
Ukrgas, the plan is that they prepare them for sale in the medium term, in around
2-3 years. To this purpose EBRD mostly and IFC to a lesser extent has been
assisting the Government by placing directors in the Supervising Boards of these
banks, so that corporate governance is implemented.

HOUSE_OVERSIGHT_026139
"
IMAGES-010-HOUSE_OVERSIGHT_029968.txt,"From:

Sent: 1/22/2013 10:45:31 PM
To: jeevacation@gmail.com
Subject: Tom McMillen

Importance: — High

Hi Jeffrey,

| saw Tom McMillen last night and he asked about you - said he lost touch. He's tight with the Obama's and is going to be
an Ambassador - apparently any country he wants. So great! I'd LOVE to be an Ambassador and am going attempt to
raise enough money on the next election cycle.

His info is: and GEE | hesitate to give him your info w/out ur permission...

Am doing Aspen Institute Socrates Society program over President's weekend if you're in Aspen! Miss you!
Love and Happiness, Gwendolyn

PS. Have a conference call with Jessica Joffe tomorrow.

www.beckresearchlabs.com
www.flirtingwithfinances.com

check out: www.webegirls.com

HOUSE_OVERSIGHT_029968
"
IMAGES-003-HOUSE_OVERSIGHT_016001.txt,"Creativity 311

and perspective. Once coded the program takes off and is remarkably
creative in its compositions, without any further human intervention.
However, each new capability must be hand-coded by its creator, Harold
Cohen. These paintings give a good visual interpretation for the sort of
latitude imposed by the logic limit. AARON can do some very impressive
things, but always in a mechanical — albeit beautiful — way, within the
rules set by Harold Cohen, the true artist. AARON will not suddenly
awake one morning and independently decide to experiment with the
color blue!

To give an idea of what I mean by ‘mechanical elaboration’ in a
musical context, imagine you were using a Casio synthesizer. These
machines have all sorts of fun settings. You can program them to play
drum tracks, fill in chords, and add a jazzy, syncopated harmonization
to your melody. But none of this is truly innovative. It’s mechanical
elaboration of your artistic material. Jape, AARON and Emily Howell
all do the same thing within their domain. They mechanically elaborate
the artistic creation of their human masters. AARON does an extremely

good job of this.

The Myth of the Design Tradeoff
An important consequence of the non-linearity of creativity is we are not
constrained by tradeoff laws. Let me explain.

Volkswagen Polo

HOUSE_OVERSIGHT_016001
"
IMAGES-005-HOUSE_OVERSIGHT_018663.txt,"Firstly, S&Mers and feminists both need to be aware of this emotional and biological
phenomenon. It can create a sense of overwhelming intimacy with unexpected partners.
And it can be used as a tool by abusers who groom relationships that started consensually
into abusive relationships.

Secondly, we must keep talking about communication and boundary-setting. An
important part of this discussion is openly discussing what happens when well-
intentioned S&Mers screw up, and how we deal with that. Again, I wrote about that in
""What Happens After an S&M Encounter ""'Gone Wrong."" Thomas MacAulay Millar has
a great post that lists the mistakes that can happen within S&M. He mentions, for
example, that sometimes there are genuine physical ""technical"" errors; sometimes people
also hit ""landmines"" or unexpected psychological problems (I also covered landmines in
my post). Talking openly about screwups makes it harder for abusers to claim that they
""just screwed up.”

Thirdly, within our communities, we need to spread the word -- especially to people who
we believe might be inexperienced or vulnerable or otherwise in a position to have this
used against them.

TK OK ok
After June 16, 2012, this can be found on the Internet at:

http://clarissethorn.com/blog/2012/06/16/sm-aftercare-or-brainwashing

COMMUNICATION:
[theory] Feminist S&M Lessons From the Seduction Community

This was originally split into three parts and published in 2011 at GoodMenProject.com.
Obviously, it covers some territory that I also cover in Confessions of a Pickup Artist
Chaser, but the book is much chattier and has more fun anecdotes. Also, you should
totally buy the book. Okay, I'll stop advertising it now.

TK OK ok

Feminist S&M Lessons From the Seduction Community

There is an enormous subculture devoted to teaching men how to seduce women. Within
the last half-decade or so, these underground ""pickup artists” have burst into the popular
consciousness, aided by Neil Strauss's bestselling book The Game and VH1's hit reality
show The Pick-Up Artist.

Pickup artists -- also known as the ""seduction community"" -- exchange ideas in thousands
of online fora, using extensive in-group jargon. One pickup artist site lists ""over 715
terms, and counting."" There are pickup artist meetups, clubs, and subculture celebrities
all over the world. There are different ideological approaches and theoretical schools of

HOUSE_OVERSIGHT_018663
"
TEXT-001-HOUSE_OVERSIGHT_030506.txt,"Date: Wednesday, November 3 2010 02:40 PM 
Subject: Re: Quick question 
From: Jeevacation <jeevacation©gmail.com> 
To: 
He couldn't for a few months , too hot 
Sorry for all the typos .Sent from my iPhone 
On Nov 3, 2010, at 3:36 PM, 
wrote: 
> Hey Unc, 
> Quick Question...do u think Larry Summers would come to Trinity to speak about Obama, the economy, the 
government in general, etc? 
> Sent via BlackBerry from T- Mobile 
HOUSE OVERSIGHT 030506 
"
TEXT-001-HOUSE_OVERSIGHT_031618.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 5/16/2016 3:41:25 PM 
To: Thomas Jr., Landon 
Subject: Re: Trump 
Importance: High 
Me too 
On Monday, 16 May 2016, Thomas Jr., Landon <11.11 wrote: 
I am kind of shocked that our reporters did not contact you re the Trump/women story. Seems to me 
he got off rather lightly. 
How are you doing? 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.  
html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 031618 
"
IMAGES-002-HOUSE_OVERSIGHT_013530.txt,"behavioral inhibition and anxiety, behavioral flexibility, narcissism, deviant motor
activity levels, novelty seeking, harm avoidance and reward dependence. These
studies were conducted by R.R. Crowe, J.F. Rosenbaum, A. Methany, and J.L
Robinson and indicated familial congruity of these characteristics among first and
second degree relatives in the range of 40-50%. This level of heritability in
genetically unrelated family members was found to be less than 20%.

Low entropy fixations of personality can also evolve developmentally.
Experiments in young animals have shown that stress-induced high levels of
adrenal hormones exaggerate the normal developmental process of trimming back
unused neural connections, called pruning, the normally complexly over-grown
sprouting pathways. The pruning actions of the pituitary-adrenal stress hormones
come to dominate sprouting actions of neural growth factors and their protection of
neuronal axonal branching and connections during development. The research
program of Bruce McEwan of Rockefeller University and others document nerve cell
loss resulting from the neurohormonal concomitants of stress. This reduction in
neuronal connectivity and neuronal cell content has been conjectured to contribute
to the pathological simplification of neuronal projections and neural network
complexity, reducing information processing capabilities. The still intact machinery
underlying the global patterns of neurological activity, such as those that underlie
personality styles, is arranged around these pruned, unoccupiable holes of lost
brain possibility. If this range of potential behavior is extremely reduced, the
behavioral syndrome is often called a personality disorder. Those that have one are
the predictable Johnny one notes of response to perturbation: thrash out, lie without
reason, get drunk, binge on promiscuity, steal unneeded things from department
stores, or withdraw into interpersonal isolation.

A more abstract and quantifiable way of representing the pathological
simplification-induced emergence of low entropy, stereotypical personality style is
inscribed on the head stone of the post-suicidal grave of Ludwig Boltzmann. This
father of modern statistical physics expressed the idea in the form of a
transformation: the (maximal) entropy, S, of a system is the logarithm of the

number,Q, of its available ways of being, (i.e., S = log ). That is, one way a

30

HOUSE_OVERSIGHT_013530
"
IMAGES-003-HOUSE_OVERSIGHT_014616.txt,"on

mo

Mark Landler and David E. Germany, Japan, the United

Sanger, “Trump Speaks with States and the United Kingdom
Taiwan's Leader, an Affront 0 depreciate the US dollar in
to China,” New York Times, relation to the Japanese yen
December 2, 2016. and German Deutsche Mark

by intervening in currency
markets. Source: Jeffrey
Frankel, “The Plaza Accord, 30
Years Later,” Harvard Kennedy
School, December 10, 2015.

112. Stu Wood, Rick Carew and Eva
Dou, “SoftBank to Buy ARM
Holdings for $32 Billion,” Walt
Street Journal, July 18, 2016.

Kate O'Keeffe and Damian
Paletta, “Tensions Linger Over
Seizure of Survey Drone in
South China Sea,” Wall Street
Journal, December 18, 2016.

Based on aggregated balance
sheet data for the Federal
Reserve, European Central
Bank, Bank of Japan, Bank

of England, Swiss National 113. Since April 1946.
Bank and People’s Bank of . ape a
China. Source: Bloomberg, 114. Karen Reichgott, “Fiscal Policy:
Datastream! A adest Boost to Globa
Growth in 2017,"" Goldman
. Federal Reserve Board Chair Sachs Global Investment

Janet Yellen, exchange with Research, December 8, 2016.
ABC News reporter Rebecca pa

5. Sources: Citi, Barclays, Morgan

Jarvis, December 2015. Stanley, JP Morgan.

. Federal Reserve Chair Janet 8. Bank of America, “2016

ava el pe Qutlook: May the Odds Be Ever
y ie BY in Your Favor,” November 24,

delivered at the Economic Club 2015
of Washington, December 2, :
2015. 7. Matthew Jozoff and Alex

Roever, “US Fixed Income
arkets — 2017 Outlook,” JP
organ, November 23, 2016.

8. Lofti Karoui, “Credit Notes:

, San eviatatea ae survey. AINE: hla Soe SV Elbe
: in 20 Charts,” Goldman Sachs

. Based on Goldman Sachs
Global Investment Research
estimates.

. Arnold Palmer, www. Global Investment Research,
arnoldpalmer.com/bio. December 20, 2016.
. Beginning in September 1945. 119. Rating agencies referenced are

oody’s, Standard & Poor's
and Fitch Ratings.

. Elray Dimson, Paul Marsh and
ike Staunton, Triumph of the
Optimists: 101 Years of Global 120. Yang-Myung Hong, Alisa

investment Returns, Princeton eyers and Zubair K. Syed,

University Press, 2002. © 2013 “2017 Outlook — Clouds of

Elroy Dimson, Paul Marsh and Uncertainty Shroud the Outlook
ike Staunton. As cited in in Fat Tails,” JP Morgan,

Credit Suisse Global Investment ovember 2016.

Returns Yearbook 2013,

February 2013. 121. Standard & Poor's, “Rising

nterest Spreads, US

. December 2016 FOMC Corporates Would Fare Better
Statement of Economic han Others,” December 2016.
Senieats

ete, 122. Data is from Baker Hughes rig

. Peter Oppenheimer, “Fat & counts.
Flat’ with a Resurgence of

Divergence,” Goldman Sachs

Global Investment Research,

December 5, 2015.

. Anna Kitanaka, Yuji Nakamura
and Tashiro Hasegawa, “The
Bank of Japan’s Unstoppable
Rise to Shareholder No. 1,”
Bloomberg, August 14, 2016.

. As evidenced by SoftBank’s
recent pledge to invest $50
billion in the US. Michael J.
de la Merced, “After Meeting
Trump, Japanese Mogul
Pledges $50 Billion Investment
in the U.S.,"" New York Times,
December 6, 2016.

. The Plaza Accord was an
agreement between the
governments of France, West

HOUSE_OVERSIGHT_014616
"
IMAGES-009-HOUSE_OVERSIGHT_027108.txt,"would obliterate the record of adroit diplomacy of the last four years.
Obama understands very well -- even if many members of Congress do
not -- that even our worst adversaries have interests of their own, that
those interests feel as legitimate to them as ours do to us, and that we at
least have a chance of settling disputes with them if we can find the place
where our interests overlap. The time has come for him to apply that
wisdom to Iran.

James Traub is a fellow of the Center on International Cooperation.

Article 3.

The National

An uneasy courtship as Iran and Egypt test
the waters

Alan Philps

Feb 8, 2013 -- There is a consensus among commentators that the visit of
the Iranian president, Mahmoud Ahmadinejad, to Egypt - complete with
red carpet and kiss on both cheeks from President Mohammed Morsi -
does not amount to a breakthrough. The view of US think-tanks is that it
does not amount to very much at all, and certainly not worth getting
anxious about. Such a consensus is always dangerous, and it is worth
looking more closely at what it is based on.

Mr Ahmadinejad is the first Iranian leader to set foot in Cairo since the
deposed Shah of Iran was given refuge in Cairo, where he died and
received a state funeral. The two countries have not had diplomatic
relations since 1979.

The Iranian president's visit has deep historical significance, even if he
came as a guest of the Organisation of the Islamic Conference summit.
The picture of the two presidents embracing says to the world: Egypt is

HOUSE_OVERSIGHT_027108
"
IMAGES-012-HOUSE_OVERSIGHT_032561.txt,"HOUSE_OVERSIGHT_032561
"
IMAGES-007-HOUSE_OVERSIGHT_023004.txt,"Town of

HOUSE_OVERSIGHT_023004
"
IMAGES-004-HOUSE_OVERSIGHT_017119.txt,"4.2.12
WC: 191694

and Ralph Branca (whose mother, it now turns out, was Jewish!). Jackie Robinson, who was our
real hero, generally was driven to the stadium for safety reasons. I will never forget Jackie
Robinson’s first game with the Dodgers. We persuaded our European-born rabbi to make a
special blessing for him, without his knowing whom he was blessing, since he never would have
approved blessing a baseball player. We made up a Hebrew name for Jackie Robinson, calling
him Yakov (Jacob) Gnov (Rob) buh (in) Ben (son). When he got his first hit, we were convinced
the blessing had worked. I had a spiral notebook in which I had collected autographs of every
single Brooklyn Dodger who played during my high school years. As soon as I moved out of the
house my mother tossed it in the garbage pail, along with my signed baseball cards and comic
book collection. I could’ve been a millionaire....

When the Dodgers were not at home, we would play softball in the parking lot adjacent to Ebbets
Field. One day we made headlines when one of my classmates hit a homerun from the parking lot
over the Ebbets Field wall. The Brooklyn Eagle reported that it was the first time anyone had hit
a home run into rather than out of the ballpark.

It’s not surprising that my high school memories are long on sports and short on academics,
because my academic performance was abysmal. In my senior semester my first half grades were
as follows (I still have the report card): English 80; Math 60 (F); Hebrew 65; History 65; Physics
60 (F). With two failing grades, I couldn’t graduate, and so by the end of the last semester, I
raised my physics grade to the minimum passing number of 65; my math grade to 75; and my
history grade to 70 (the others remained the same). Yet despite my poor grades, I still remember
much of what the teachers taught, often quite poorly. Other, more useful, information from
Yeshiva has also stayed with me, especially from the Torah, the Talmud and Jewish history. Half
a century after finishing my religious education, I wrote a book entitled “The Genesis of Justice,”
in which I analyzed the first book of the Bible from a secular lawyer’s perspective. I never could
have done this without my Jewish education. When I showed the galley proofs to my Uncle
Zacky, an Orthodox rabbi, he said he admired its intellectual content but not its heretical views.
He pleaded with me to “change just one word.” I asked him, “which word?” He responded “the
word ‘Dershowitz’ on the cover.

In my family, directness was more of a virtue than politeness, and interrupting someone was a
sign of respect. It meant, ""I get it, so you don't have to finish your thought. Now let me tell you
why you're wrong."" The interrupter fully expected to be interrupted in turn, and so on. Nobody
ever got to finish what they were saying. Now that's a good conversation. I'm reminded of the
joke about the pollster who approaches four random people in Times Square and says, ""Excuse
me, I'd like your opinion on the meat shortage."" The first one, an Ethiopian replies, ""There's a
word I don't understand, what ‘meat?’ is?"" The second, an American, also says there's a word he
doesn’t understand: ""What's ""shortage?"" The third, from China, also doesn't understand
something: ""What's opinion?"" Finally, the Israeli too says there's something he doesn't
understand: ""What's 'excuse me?"" We never said ""excuse me."" Conventional politeness was not
part of our language. Nor was rudeness. We simply didn't regard interrupting someone as rude,
as long as everyone eventually got to say what they wanted.

My mother regarded people who were “too polite” with suspicion: “You never know what
Muriel is really thinking,” she would say about my extremely polite Aunt (by marriage, of course)

Muriel, who lived upstairs from us and was married to my somewhat rude (in the best sense of

32

HOUSE_OVERSIGHT_017119
"
IMAGES-008-HOUSE_OVERSIGHT_025356.txt,"Honorable Mark Filip
May 19, 2008
Page 4

These statutes are intended to target crimes of a truly national and international scope:
Specifically, § 1591 was enacted to combat human trafficking, § 2422 is aimed at sexual
predation of minors through the Internet, and § 2423 deals with sex tourism. The nature of these
crimes results in multi-jurisdictional problems that state and local authorities cannot effectively
confront on their own. However, Mr. Epstein’s conduct was purely local in nature and, thus,
does not implicate federal involvement. After researching every reported case brought under 18
U.S.C. §§ 1591, 2422(b), and 2423(b), we found that not a single case involves facts or a
scenario similar to the situation at hand. Our review of each precedent reflects that there have
been no reported prosecutions under § 1591 of a ‘john’ whose conduct with a minor lacked
force, coercion, or fraud-and who was not profiting from commercial sexual trafficking. There
have likewise been no cases under § 2422(b)}—~a crime of communication—where there was no
use of the Internet, and where the content of phone communications did not contain any inducing
or enticing of a minor to have illegal sexual activity as expressly required by the language of the
statute, Furthermore, the Government’s contention that “routine and habit” can fill the factual
and legal void created by the lack of evidence that such a communication ever occurred sets this
case apart from every reported case brought under § 2422(b). Lastly, there are no reported cases
of violations of § 2423(b) of a person whose dominant purpose in traveling was merely to go to
his own home.3

Although these matters were within the scope of the CEOS review, rather than
considering whether federal prosecution 1s appropriate, CEOS only determined that U.S.
Attorney Acosta “would not be abusing his prosecutorial discretion should he authorize federal
prosecution” in this case. The “abuse of discretion” standard constitutes an extremely low bar of
evaluation and while it may be appropriate when the consideration of issues are exclusively
factual in nature, this standard fails to address concems particular to this situation, namely the
“novel application” of federal statutes. The “abuse of discretion” standard in such pure legal
matters of statutory application risks causing a lack of uniformity. The same federal statutes that
would be stretched beyond their bounds in Miami have been limited to their heartland in each of
the other federal districts. Also, because this case implicates broader issues of the administration
of equal justice, federal prosecution in this matter risks the appearance of selectivity in its
stretching of federal law to fit these facts.

3 Federal prosecution of aman who engaged in consensual conduct in his home that amounted to, at most, the
solicitation of prostitution, is unprecedented, Since prostitution is fundamentally a state concern, (see United
States v. Evans, 476 F.3d 1176, n.1 (11th Cir. 2007) (federal law “does not criminalize all acts of prostitution (a
vice traditionally governed by state regulation}’}), and there is no evidence that Palm Beach County authorities
and Florida prosecutors cannot effectively prosecute and punish the conduct, there is no reason why this matter
should be extracted fram the hands of state prosecutors in Florida.

A00 1441

HOUSE_OVERSIGHT_025356
"
IMAGES-003-HOUSE_OVERSIGHT_015508.txt,"296 M. Hoffman et al.

Temptation
to Defect

aes Cons Gon.

(1) (2) (3) (4)

X
Fig. 3. A single stage of the Envelope Game

is arepeated game with two players. In each round, player 1 receives a sealed enve-
lope, which contains a card stating the costs of cooperation (high temptation to
defect vs. low temptation to defect). The temptation is assigned randomly and is
usually low. Player 1 can choose to look inside the envelope and thus find out the
magnitude of the temptation or choose not to look. Then player 1 decides to cooper-
ate or to defect. Subsequently, player 2 can either continue to the next round or end
the game. As in the Repeated Prisoner’s Dilemma, the interaction repeats with a
given likelihood, and if it does, an envelope is stuffed with a new card and presented
to player 1, etc.

In this model, as long as temptations are rare, large, and harmful to player 2, it is
a Nash equilibrium for player 1 to “cooperate without looking” in the envelope and
for player 2 to continue if and only if player 1 has cooperated and not looked. We
refer to this as the cooperate without looking (CWOL) equilibrium.” This equilibrium
emerges in agent-based simulations of evolution and learning processes.’ Notice
that if player 1 could not avoid looking inside the envelope, or player 2 could not
observe whether player 1 looked, there would not be a cooperative equilibrium
since player 1 would benefit by deviating to defection in the face of large tempta-
tions. Not looking permits cooperative equilibria in the face of large temptations.

The Envelope Game is meant to capture the essential features of many interest-
ing aspects of our morality, as described next.

Authentic Altruism. Many have asked whether “[doing good is] always and exclu-
sively motivated by the prospect of some benefit for ourselves, however subtle”
(Batson, 2014), for example, the conscious anticipation of feeling good (Andreoni,

? Technically, the conditions under which we expect players to avoid looking and attend to looking
are c,>a/(l—w)>cp+c(1—p) and bp+d(1—p)<0), where c, and c, are the magnitudes of the
high and low temptations, respectively; p is the likelihood of the low temptation; a/(1—w) is the
value of a repeated, cooperative interaction to player 1; and bp+d(1—p) is the expected payoff to
player 2 if player 1 only cooperates when the temptation is low.

>The simulations employ numerical estimation of the replicator dynamics for a limited strategy
space: cooperate without looking, cooperate with looking, look and cooperate only when the temp-
tation is low, and always defect for player 1, and end if player 1 looks, end if player 1 defects, and
always end for player 2.

HOUSE_OVERSIGHT_015508
"
IMAGES-012-HOUSE_OVERSIGHT_032575.txt,"From: ee

Sent: 9/8/2017 11:15:36 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

he just did© it seems i will be in new york from sep 14 until 20 .. if you happen to be there let me know it will
be great to see you .. if not, i will have a bag dilevered to your house with some souvenirs from kuwaithia

Sent from my iPhone

On Sep 8, 2017, at 1:33 PM, jeffrey E. <jeevacation@gmail.com> wrote:

I will get larson to call you

On Fri, Sep 8, 2017 at 12:26 PM, {nn wrote:

i will bring you some kuwaiti gifts but not food@
Sent from my iPhone

On Sep 8, 2017, at 11:52 AM, jeffrey E. <jeevacation@gmail.com> wrote:

what is your schedule in new york how long will you be there?

On Fri, Sep 8, 2017 at 9:09 AM, i rote:

things look very bad in the gulf .. my feeling trump do not want to end it
Sent from my iPhone

On Sep 8, 2017, at 2:28 AM, jeffrey E. <jeevacation@gmail.com> wrote:

your man did well . congragulations

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032575
"
IMAGES-003-HOUSE_OVERSIGHT_014602.txt,"Exhibit 83: Ratio of Municipal Bond Yields to
Treasury Yields

Current municipal bond yields offer a larger valuation buffer
to absorb risks than in the past.

Ratio (%)
100 mCurrent mAverage Since 2000 Average Since 1987

95

93

5-Year Ratio 10-Year Ratio

Data as of December 31, 2016.
Source: Investment Strategy Group, Bloomberg, Thomson MMD.

Exhibit 84: Municipal Issuer Rating Changes
Stable revenue and spending discipline have led to recent
issuer rating upgrades.

Share of Rating Changes (%) mUpgrades m Downgrades
100 -
90 5
80 - 49 Re)
49 5
re 56 56 54 a
60 5
50 4
40 4
30 4 ° 61
Gil = au
20 + 44 44 46
10 5
a 4
3014 4ai4 1015 2015 3015 4015 1016 2016 3016

Data as of 03 2016.
Source: Investment Strategy Group, Moody’s.

benchmark duration. Given their important
portfolio hedging characteristics, municipal bonds
should remain the bedrock of the “sleep-well”
portion of a US-based client’s portfolio.

The same can be said for high yield municipal
bonds. Despite their almost 10-year duration, these
bonds currently offer attractive spreads of close to
3%, a level that has been higher only 29% of the
time since 2000. This spread provides a substantial
buffer that could partially offset higher Treasury
yields, enabling the high yield municipal market
to deliver positive returns of around 4% in our
base case. Therefore, we recommend clients stay
invested at their customized strategic weight.

US Corporate High Yield Credit

Even for the bullish among us, last year’s

17% total return in corporate high yield was
surprisingly strong. Not only was it the largest gain
within US fixed income, but it also ranked among

While there is clearly no shortage of

risks, the silver lining to last year’s
rout in municipal bonds ts that
we begin 2017 with a much larger

valuation buffer to help absorb them.

the top annual returns of all time for the asset
class. What makes this performance even more
impressive is that high yield was down about 5%
at its worst point in early 2016.

But these sizable gains have come at a cost.
Spreads—which compensate investors for the risk
of default losses—now stand well below their long-
term average. In fact, the level of spreads has been
lower only a third of the time in the last 30 years.
Moreover, yields have fallen from above 10%
early last year to less than 7% now, diminishing
the allure of these bonds to investors searching for
high returns.

Even so, we think the strong fundamentals
underpinning the asset class still warrant an
overweight, though returns are almost certain to
be more modest going forward. At the heart of
this stance is our benign view on default losses,
which are the primary risk to high yield investors.
Here, several factors support our below-historical-
average 2.5% par-weighted default
forecast for 2017.

First, high yield firms stand to benefit
directly from the strengthening US
economy we expect this year, considering
almost three-quarters of their sales
originate domestically.’** Second, leading
indicators of defaults—such as Moody’s
liquidity and covenant stress indexes—
are trending downward, suggesting
fewer speculative-grade companies are

Outlook | Investment Strategy Group 69

HOUSE_OVERSIGHT_014602
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Jeffrey Epstein never went to federal prison but his butler/houseman, Alfredo
Rodriguez, did, for obstruction of justice. He was busted for hiding Epstein’s journal
and trying to sell it. He has since died. © Facebook

November: One of Epstein’s former butlers tries to sell to an undercover FBI agent
a black book filled with the names of hundreds of girls and young women that
Epstein allegedly procured for sex and massages. The butler tells FBI agents he
witnessed nude underage girls at Epstein’s pool and had known that the millionaire
was having sex with them. He also said he saw pornography involving underage girls
on Epstein’s computers. The butler/houseman, Alfredo Rodriguez, is later charged

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curbed.com / Sarah Harvey Every night in my apartment in Nice, I
heard the sound of marbles rolling across the floor upstairs. Or perhaps

they were pins being hurled to the...

The Most Untapped Destinations in the
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TEXT-001-HOUSE_OVERSIGHT_023208.txt,"Date: Mon, Oct 26, 2015 at 8:37 PM 
Subject: 
To: Brad Wechsler < >, Melanie Spinella <  x 
— x . 
gain at 20 % not 28. . so total , 35.8%. tax rate. same for boat. and plane each around 10 m so total 7 
m savings if both sold 
Date: Tue, Oct 27, 2015 at 11:35 AM 
Subject: Detailed constructive list. 
To: Melanie Spinella < ________ 
Cc: Brad Wechsler <I In> 
Deciisions needed asap 1 phaidon. topco etc. . ( cash needs) many wires needed !! 2 new trustee or 
not. - new decantings 3 art in art partnership.??! .overdue ?! 4 grats? window - 5 art space. .6 
regan arts. .7 plane simplify re strucuture re finance re purpose . 8 .boat restrucutre, sister, 9 re 
fresh estate plan. to consider modifications Alex Victoria equal does not mean same. 10. tra review, 
sale. , 11 brh, doc review, 12. sale of stock or art ? tax, rent sale 13 . gifts of art. 14. charity current 
and future pledges, gifts, 15 cash flow. . 16 . new IT and new personnel. 17. operational re-do ( bill pay 
etc) . 18 debra and children ? current and future involvement . notifications etc. . new dynasty trust ? 19. 
tax plan and dislosures gaming. foreign apollo and phaidon related. 20. investments rationalize incl 
trading accouints . 21. bank loans . rates ? ? terms etc. consolidate, plane boat houses. disclosures? 22 
. consolidate and review and reduce the number of all bank accounts and legal entities. decanting 
liquidating etc. . 23 all outside consultants? valuations etc. 24 review legal bills carefullly. 25. third 
party responsibilty Bens house, alex films. etc. 
Date: Wed, Oct 28, 2015 at 5:56 AM 
Subject: Fwd: Detailed constructive list. 
To: Lesley Groff <=111.01 
please print two copes . re formattted so leon can go line by line ie . 
answer. blank who responsible. time frame. fee paid when? 
heading s question, gift 
Date: Tue, Oct 27, 2015 at 6:35 AM 
Subject: Detailed constructive list.  
To: Melanie Spinella <!__________________________> 
Cc: Brad Wechsler <__________________________I> 
Deciisions needed asap 1 phaidon. topco etc. . ( cash needs) many wires needed !! 2 new trustee or 
not. - new decantings 3 art in art partnership.??! .overdue ?! 4 grats? window - 5 art space. .6 
regan arts. .7 plane simplify re strucuture re finance. re purpose . 8 .boat restrucutre, sister, 9 re 
fresh estate plan. to consider modifications Alex Victoria equal does not mean same. 10. tra review, 
sale. , 11 brh, doc review, 12. sale of stock or art ? tax, rent sale 13 . gifts of art. 14. charity current 
and future pledges, gifts, 15 cash flow. . 16 . new IT and new personnel. 17. operational re-do ( bill pay 
etc) . 18 debra and children ? current and future involvement . notifications etc. . new dynasty trust ? 19. 
tax plan and dislosures gaming. foreign apollo and phaidon related. 20. investments rationalize incl 
trading accouints . 21. bank loans . rates ? ? terms etc. consolidate, plane boat houses. disclosures? 22 
. consolidate and review and reduce the number of all bank accounts and legal entities. decanting 
liquidating etc. . 23 all outside consultants? valuations etc. 24 review legal bills carefullly. 25. third 
party responsibilty Bens house, alex films . etc. 
From: jeffrey E. leevacation@gmail.com> 
Date: Tue, Feb 24, 2015 at 2:20 PM 
HOUSE OVERSIGHT 023208 
Subject: 
To: Melanie Spinella <________________________> 
Leon, 
Yesterday , I again spent hours upon hours of my time with your office. ,( speak to brad to get 
flavor) and you and i will discuss the results in gory gruesome detail on Friday. it mirrored many other 
weeks spent doing the things that I don;t have the time to do. 
In order to keep things in perspective, maybe reviewing an analogy I have used before with you, 
might be helpful. You and your family are a 6 billion dollar corp. with an income between 250 -500 
million dollars per year. It contains a few operating biz's , a large wide array of existing investments, 
in various categories , a desire to enter into others. A panoply of loans, notes. purchases, wide range 
of all types of taxes. , planes. boats homes. . trusts ,grats. a crazy number of bank accts. ( with no 
oversight ) . law firms, acct firms, 800 page tax returns, foreign firms. art consultants. 
construction consultants bill payers, home mgmt.,vast multitude of llc's , including foreign, and with 
all that you only have a combined overhead of less that 3 million dollars. 
I have previously sent you the very same note that i have enclosed again below ,this time with 
highlights . I wrote it to you over a year ago. As my acute disability ( selective memory) seems to 
have been raised as one of your concerns , as a rule I try to memorialize things in writing in an 
attempt to lay out issues that I fear may later turn out to be a problem. ie what i would and wouldn't 
do , - my responsibilities. etc and those things that are not, below you will find details of things that I 
thought needed to be done, so that you wouldn't find yourself in the very place where you currently 
find yourself. however ,you chose to defer many of my suggestions- see below -,until only weeks ago. 
! you chose to defer the jpm acct. the art partnership on and on - into this year. and though the 60- 50 
40 timber emails all carried with it a clear warning that you needed to do something re personnel if it 
were to stabilize,- you chose to wait. 
ONE YEAR AGO 
Feb 17 2014 i wrote: 
With regard the more pressing issue I am uncertain of just how to proceed. I am torn, as my very 
strong inclination is not to be involved at all. It is extremely time consuming, delicate, fraught with 
many pitfall many that will make you very upset and a major pain in the ass. I wrote you months ago 
that the quality of the people involved need to be upgraded. ( lucky for me these last issues arose way 
before the beginning of my involvement ) I am also aware however of my overarching friendship 
obligations of ok, -given all the complexities who else can do it? problem. 
Your family office needs a daddy. children with good intentions are running around, sniping, 
nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take 
charge Everyone would report to him. Eileen included. He would however work for me. this is not, 
by a long shot my first choice as I prefer only being responsible and standing behind my own 
personal work ( ie the word DONE will no longer be transmitted to reflect status stated by others ) 
With no commitment on my part whatsoever, to do it. So far as I have failed in my attempt in 
trying to think through the problem creatively . My organizations handling of the more complex 
issues I believe you might find very costly, very! ( however many structures available some risk 
sharing, maybe risk caps ,etc ) but would require my teams doing the work , not yours. Ada should 
be only a trust, grat administrator, not sure what role you prefer for Eileen as you hired her initially to 
oversee investments. whether Rich your controller stays or not, is not urgent. having Tom report to a 
new person,- is. coordination with Suydam Kathy Gregory, I would suggest limiting to one person. 
The increasing public profile needs to be taken into consideration. 
HOUSE OVERSIGHT 023209 
TODAY 
With your acquiesence , Eileen did not report to Delson ( he acting as a conduit directly to me) , she 
continued to provide bad info to both you ( cash flows , stock accts, structures. sales Etc) and me. 
and each time with my many annoying calls to you made immediately afterwards that she was g.....y!! 
No one was hired to run YOUR office until two months ago , no one was even interviewed and even 
now , Brad, a very nice man, is not even full time,(crazy ) Hours upon hours of time need to be spent 
training him. and his new staff. Eileen followed your instructions, not mine, in fact she continued to 
ignore mine saying "" but Leon said "" or"" its on Leon's desk etc "" , You would become frustrated 
when i pointed out each instance, of her obfuscation. originally you were given the clear choice, but 
to save money ,you chose not to hire my team. I was hired to do the architecture, you kept your own 
team. with Eileen at the head. instructions were given by me„ detailed but ignored by her. ( except in 
the instances where I inserted myself and personally had to do the weeks of grunt work 
),ex. jpm morgan acct still not in use? That being said, If you do the cold calculation ,starting from 
where you were, to where you are currently . you have made a hell of a deal. -- negotiating down 
my original amount requested, calling upon our friendship and suggesting that the Carlyn mess was 
partially my fault. ( though in that specific example , I had never been asked to do more than merely 
provide you the name of the most highly recognized atty in the field, not consulted,nor even asked 
again for my guidance along the way. ). I accepted the discount as your friend. ( by the way 
„suggesting now, that your Tom is now that last word on tax characterization, frankly is a bit much,-). 
however - that is all in the past. 
In order to move forward 
I would ask that you realize that very unlike yours, My business is only comprised of my personal 
attention and my personal time . Time that I was forced to grossly overspend on your various issues 
last year. . As you are my very close friend I will not have you participate in a bidding process that I 
have decided i will have this year for my time. (hopefully a more fair way to allocate ) I would also 
ask that you keep in mind that though our deal expired months ago. (also keeping in mind , that your 
understanding of the final payment terms neither reflected the emails or my memory, we finished it up 
your way. ) I have answered every call Brad , joslin, Ada or you, have made . reviewed docs over and 
over/ until once again, I was forced to insert myself strongly as I thought it dangerous not to. I made 
serious dollar and time concessions last year.very serious I am wiling to continue to accommodate 
some of your concerns , but I am, under no circumstances , none, willing to spend my time for free. 
its not fair. After cleaning up Carlyn's mess , which was a few weeks and 30 million dollars . We 
were both highly aware of the dire circumstances in which you found yourself last year, and in fact due 
predominately to its seriousness, and those very circumstances I took extra care in our negotiations . 
(you had claimed I had you over a barrel , ( a horrible position to be in with my very close friend.), 
unfortunately I fear that if you are not cautious ,in the near future, another barrel will appear of your 
own design ) 
I heard you when you said you believed i had already been paid for the work that is now required. The 
art partnership has fully answered all your concerns and discharged all my obligations and more so. 
. ( FYI Carlyns art partnership that you referenced is similar in only its title. ) You will also recall 
that you required that my payments be at the end of my work not at the beginning as everyone else's.( 
my work was never to include hours upon hours of training your staff). I eventually agreed, this of 
course should make clear that the 2014 tax year that will close Oct 2015 is not covered by our past 
agreement at all. I pointed this very fact out to you when I initially proposed a multi year agreement 
HOUSE OVERSIGHT 023210 
right out of the box. you said you preferred not. As you said ,I have produced results to date, far in 
excess of even my own exalted opinion of my projections. I have devoted a monumental amount of my 
limited amount of time-- way, way in excess of our agreement. I will be fair, I am willing to roll in 
the amount still outstanding from last year if that helps .. However, As my best student , and my only 
one, you are now capable of doing most, if not all, of the required work yourself. I can put my 
whiteboard away when you come to eat and just have fun, trade stories,, share moments ideas etc. . I 
am of course always available to guide you as a friend if you choose that route . always. It will take a 
great deal of your time , but you will not have to spend any more money on mine. 
We are scheduled to meet fri at 430 , I leave at 5 am sat morning. 
Date: Wed, Nov 4, 2015 at 4:45 AM 
Subject: 
To: Melanie Spinella 
okay, its time for you to decide how you would like to move forward. ( fyi get your money from the 
1031 . the screw up is only one of many,) If you decide to move foward on decanting. phaidon, note 
basis estate update, each requires many carefully orchestrated detailed steps. and precision . there are 
hundreds of millions in saving if done correctly and a huge mess if not. If you want me and my 
colleagues to do it, oversee it paper it and guide it, you should tell me. It is a big undertaking . If not, 
ok.. Brad and your crew can do it. I will have no real further involvement apart from confirming the 
outcome of my proposed structure, I will not risk the admonition of- they thought you said, they thought 
you meant, they understood it to be. but they said you said, ( i e ,I asked at our meeting that accounting 
be done properly for bens house , what came back was ada thought that I meant that we needed to go 
back to the 97 trust and give him a full third party accounting of where his money had gone??!! I kid you 
not). I dont think brad should talk to jane heller without a fully fleshed out plan in place and even then it 
should be you. 
Date: Wed, Nov 11, 2015 at 10:59 AM 
Subject: 
To: Richard Joslin < >, Joe Avantario < >, Brad Wechsler 
lets calculate the exact payoff amount for the leon note as of nov 30 ,DEC1 , dec 31. 1) does art 
space get folded in to phaidon. . middle cos disolved.? 2 collapse topco etc 
open bank accounts for apoo 
interest will be approx 50k per day . look at deduction. 
note payoff docs- notaries . new docs. releases ? , accountings? disclosures? ( gaming ? ) art 
partnership . renew. will? repaper lease guarantees? macfarlanes. ? do we pay down 10m. of plane. ? 
proposal for airplane, 91 , 135. exec , jet. .? remove debra. from plane? 
Date: Wed, Nov 11, 2015 at 11:00 AM 
Subject: 
To: Melanie Spinella < 
we should discuss e trust and j black trust. , brad buying phaidon. artspace folding ? plane/ boat. 
foundation. 
Date: Wed, Nov 11, 2015 at 9:09 PM 
Subject: 
To: Melanie Spinella <› 
HOUSE OVERSIGHT 023211 
we need to coordinate, brad bank, cannot be clumsy 
Date: Fri, Nov 20, 2015 at 10:50 AM 
Subject: agenda 
To: Melanie Spinella <! 
1. brad or richard. makes litte difference. 2. gagosian . no written contract??!! fishy to me - who 
transfers 100 million dollars overseas without a contract ,- dont want you pulled into a scandal. careful 
especially as he is on the tax dept radar, . 3. I would like you to delineate what you would like me to 
do - the more specificity the better.- I think it important to avoid any misunderstandings as to each of 
our obligations and responsbilities. I will always give you my best advice. I have made my views re ada 
and the office clear . no hedging. . THEY should go. no hesitation . no zeus, your choice obviously. 
good news - I will not bring it up again, moving forward- These transactions will require a great deal of 
manpower over the next holiday month, every document needs minute review. . I would like to fix our 
fee agreement, in detail no later than this weekend . ie amounts, dates paid . entities paid. any concept 
you may have of' after care""? all on the table. .other questions such as how much to leave your 
children ,in what form, has no right answer. but you and I can dialougue as long as you like about issues of 
judgement. it is out of o friendship, not biz. ( bill hellman as a trustee? ) . we can talk about that during 
walks etc. I would like for you and Ito go back to having fun. 
Date: Mon, Nov 23, 2015 at 11:53 AM 
Subject: 
To: Melanie Spinella <11.11.11..1.11 
25 minutes needed. 1 new and vastly improved plan, needs your thoughtful input, decisions on 
legacy paintings bronzes. books etc. 2. we need to reach fee agreement. and authorities.( alan and I 
spent time over the weekend, ) , hundred documents to be drafted. 3. gagosiaon 4 revolver . 5 inspire - 
FBI. 6. Phaidon, solution. 7 plane. no need to reinvent the wheel. . ( rowen ). 
Date: Tue, Nov 24, 2015 at 2:41 PM 
Subject: Fwd: Loan 
To: Melanie Spinella < 
Please talk to him 
Date: Tuesday, 24 November 2015 
Subject: Loan 
To: Jeffrey Epstein <jeevacation@gmail.com> 
Cc: Melanie Spinella <  _ I> ""Alan S Halperin"" < 
Clapp Joe Avantario <111.1> 
Jeffrey-given the high daily interest cost (50k+/-) on $$ borrowed which you pointed out yesterday, here's 
what I'm thinking, but I want to be 100% on the same page as you: 
1. Close next monday on the credit line, but don't borrow any $$. (We can, of course push closing back but 
my preference wld be to close.) 
2. Right now, at barry's request, Irene Steiner, on behalf of the trustees is reviewing apo1 and apo-o1. 
While probably not impt on a ""substantive"" basis it was (a) impt to barry and (b) is likely good for leon. 
3. We are hoping to have signature pages to the trustees (and returned to us) by early to mid next week. 
(Ada will oversee.) 
4. We will then get the new trust to bofa who, moving quickly (according to them), will have an acct open 
the following week, 12/7-9. 
5. We need to manage execution of paperwork associated with decanting which I assume occurs once apo-
ol and bank acct are operative. (Ada I'm sure you'll be on top of this). 
>, Ada 
HOUSE OVERSIGHT 023212 
6. I assume we will move $$ to pay down loan the day or day after (?) apo-01 bank acct open. As you 
know we cld do this as early as next monday/tuesday but then cash will be sitting in apo-1 while we're 
waiting for apo-01 bank acct. 
7. If there are sales of assets (or llc's) from leon to apol or apo-01 that needs to be buttoned down and 
organized asap. 
8. Same if you want another NEW trust in the mix as that will involve paperwork and opening an acct with 
bank. 
Let's discuss to make sure we're on the same page on process. B 
Sent from my Verizon Wireless BlackBerry 
Date: Mon, Nov 30, 2015 at 5:21 PM 
Subject: agenda 
To: Melanie Spinella <____________________________ 
1 fees, amount and to what entities when and responsiblitis. 2. gagosian idea to save a minimum of 10 
mill and maybe more. 3. i can walk you through carlyns screw up, 50 % would have made little 
difference and maybe made it worse. 4. we should have an all hands meeting with your family to talk 
about art distribution on death. . 5. phaidon, decantings ( already firmly in progress ) loans. ( alan ) 
pent. ( with follow up ) all part of same elegant transaction, 6 asymetric risk worth at least 50- 60 no 
matter how you calculate. I can explain. 7 lets get the money issue out of the way once and for all. I 
have my team set to start. 
Date: Tue, Dec 1, 2015 at 12:26 PM 
Subject: 
To: Brad Wechsler < 
> 
I would like to consider the gaming commmison disclosure dates. . 2 we should put to bed once and for 
all adas concerns re the bronzes. . alan should opine on valuation ranges? rather than estimates. . 3. 
Leons input re gagosian purchase. ( trade in, 1031 if 17 likely transfer- . scream, phaidon. plane and 
boat. 4. I would like to review all assignment docs. decanting schedules. ( exhibits ). balance sheets for 
apol-2. . loan does re transfer of narrows inside. 5. Leon should be clear regard future steps. pent etc. 
swaps , paydowns 6 mock-ups of all before trigger pull. 
Date: Wed, Oct 28, 2015 at 12:56 AM 
Subject: Fwd: Detailed constructive list.  
To: Lesley Groff <_______________________ 
please print two copes . re formattted so leon can go line by line ie heading s question, gift 
answer. blank who responsible. time frame. fee paid when? 
Date: Tue, Oct 27, 2015 at 6:35 AM 
Subject: Detailed constructive list 
To: Melanie Spinella <_______________________________ 
Cc: Brad Wechsler < 
Deciisions needed asap 1 phaidon. topco etc. . ( cash needs) many wires needed !! 2 new trustee or 
not. - new decantings 3 art in art partnership.??! .overdue ?! 4 grats? window - 5 art space. .6 
regan arts. .7 plane simplify re strucuture re finance re purpose . 8 .boat restrucutre, sister, 9 re 
fresh estate plan. to consider modifications Alex Victoria equal does not mean same. 10. tra review, 
sale., 11 brh, doe review, 12. sale of stock or art ? tax, rent sale 13 . gifts of art. 14. charity current 
and future pledges, gifts, 15 cash flow. . 16 . new IT and new personnel. 17. operational re-do ( bill pay 
HOUSE OVERSIGHT 023213 
etc) . 18 debra and children ? current and future involvement . notifications etc. . new dynasty trust ? 19. 
tax plan and dislosures gaming. foreign apollo and phaidon related. 20. investments rationalize incl 
trading accouints . 21. bank loans . rates ? ? terms etc. consolidate, plane boat houses. disclosures? 22 
. consolidate and review and reduce the number of all bank accounts and legal entities. decanting 
liquidating etc. . 23 all outside consultants? valuations etc. 24 review legal bills carefullly. 25. third 
party responsibilty Bens house, alex films. etc. 
ate: Fri, Dec 4, 2015 at 2:07 PM 
Subject: Fwd: moving forward  
To: Melanie Spinella <__________________________> 
I had forgotten that Alan was actually at the table when i explained my note deal to you. it was at the 
end of the meeting described below. . as you will recall, not once , not even a peep did alan suggest 
contemporaneously his hand in the crafting, in fact brad said it was an idea. that HE brad, HAD HAD, 
from the begiining . my emails between alan and I that you can read, further confirm authorship. Im sure 
you recall the obnoxious tooting when alan said he agreed with my plan. . 
Date: Mon, Nov 2, 2015 at 10:03 PM 
Subject: moving forward 
To: Melanie Spinella <__________________ 
I have mixed emotions about what transpired today. really, You saw first hand in nauseating detail 
what i have been saying to you for quite a while now. Joslins answers were totally incomprehensible. 
the charts he prepared unreadable. Brads defensive posture was at a minum very surprising . He and I 
have recently gotten along quite well , I thought. Neither Joslin or Brad understood a 180 million dollar 
number. no cash flow after weeks of requesting? odd. when you suggested that heathers behavior was 
emblematic of a sloppy office , brad said lets not talk about emblems??! bill pay, admittedly no change 
for the year. . plane not done. though it was the only thing i suggested doing first in july . . I sent you a 
list of 10 consultantts. brad said three, . i didnt want to push it. I was shocked that brad was opining on 
things he knows little or nothing about. tax issues. 1031. neg basis , note payoffs ( the same idea he 
said he had had from the beggining??!!) . answers re LBF holdings that can be corrected ( they cant) . 
valuations that have never been read. . When we met in your lobby he seems surprised that i was there. I 
dont know if he felt somewhat sandbagged. . . 
the savings on the note payoff is aprrox 33 % of 1.8 billion, real money if you do phaidon which i see no 
reason not to. if later josh and ben want to buy it back with you or without you they can. i will walk you 
through the structure one on one. . the losses will offeset the calder gain as well as apollo gain. 
Im aware that seeing what you saw frustrated you. I felt badly for you. 
I> 
You wanted a contingent deal. real value. etc. I will not of course hold you to your deal. . its silly. its 
not how i work or a reflection of our friendship, my proposal is as follows. I want away from your 
buisiness , but at the same time leaving you in good shape. I think you should pay the 25m that you did 
not for this year. for next year its the same 40 m as always, paid 20 in jan and 20 in july, and then we are 
done. I will give you advice and counsel but new people will be running your operating machine. I will 
oversee all the work that needs to be done you and I will hire new people, and it will be self running ( it 
was may in my house when you told brad it had been 5 months and you were getting fed up ) I will set up 
a parallel. office, somenoe like wendy dolman or her quality is paramount. two accountants two 
bookeepers and two office admins. . alan and zoe will handle trusts and grats. heatehr diana george will 
be incolved in art partnership. if you want brad, analysts etc. and kids to do investments I have little to 
add in that regard ,except to be able to account for things properly. I suggest that the kids must have skin 
in any deal. 
Alternatively , we can continue to focus on fun and let someone else do the things that you want done. 
HOUSE OVERSIGHT 023214 
<EIN=M> 
and you and I can kibbitz about it all, structures outcomes risk, museums. charity, ( joslins answer by 
the way was I had asked how much charity was leon planining to give this year , ( the 2 m ) he didnt 
include your foundation or the payment to me, or from debra and you??!! 
Date: Mon, Dec 7, 2015 at 5:39 PM 
Subject: Fee 
To: Melanie Spinella <!______________________ 
Amount ? Paid in kind ? Financed ? Plane ?Paid to ? Non charity, charity . Fixed dates 
Date: Mon, Dec 7, 2015 at 8:05 PM 
Subject: 
To: Melanie Spinella <________________ 
please re iterate that no further actions taken without careful document review. please 
Subject: 
To: Melanie Spinella 
Leon, 
As you are well aware, There is little I won't do for you, or at least try to do as a friend, and a great 
deal that I have already done ( both known and some things that willneed to remain unknown.) Our 
arrangement was for me to architect sophisticated structures that would be beneficial to you. that is what 
I have done and will continue do in order to fulfill my obligations under our agreement. The 
discovered fact that you in reality need an entire family office built from scratch has been trying I have 
aleady agreed de- facto to try to help. I would suggest that Phaidons payroll and attention pales in 
importance to your personal structure,which has taken a back seat, Some of my suggestions regarding 
the Eysium office are as follows you will need a budget of 3- 5 million per year. CEO 1 million, new 
tax person to work with rich, 250. new bookkeeper ,200 new paralegal to work with ADA ALan etc, 
coordinating with Apollo, Akin, paul weiss , new acct openings, sec filings, sales tax review, etc. 
$150 . art point person. loan, inventory, purchasing support, $?? software servers, video conferencing, 
tax oversight. 
I believe You should rapidly address trustees , gift trust, succesion, wills of debra and children„ 
monetization events, cash flow. etc I can of course share my experiences with you on each issue. 
WIth regard the more pressing issue I am uncertain of just how to proceed. I am torn, as my very 
strong inclination is not to be involved at all. It is extremely time consuming, delicate, fraught with many 
pitfall many that will make you very upset and a major pain in the ass. I wrote you months ago that the 
quality of the people involved need to be upgraded. ( lucky for me these last issues arose way before the 
begining of my involvement ) I am also aware however of my overarching friendship obligations of ok, - 
given all the complexities who else can do it? problem. 
Your family office needs a daddy. children with good intentions are running around, sniping, nitpicking 
with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take charge 
Everyone would report to him. eileen included. He would however work for me. this is not, by a long 
shot my first choice as I prefer only being responsible and standing behind my own personal work ( ie 
the word DONE will no longer be transmitted to reflect status stated by others ) 
With no commitment on my part whatsoever, to do it. So far as I have failed in my attempt in trying to 
think through the problem creatively . My organizations handling of the more complex isssues I believe 
you might find very costly, very! ( however many structures available some risk sharing, maybe risk caps 
,etc ) but would require my teams doing the work , not yours. Ada should be only a trust, grat 
administrator, not sure what role you prefer for Eileen as you hired her initially to oversee investments. 
whether Rich your controller stays or not, is not urgent. having Tom report to a new person,- is. 
HOUSE OVERSIGHT 023215 
coordination with Suydam Kathy gregory, I would suggest limiting to one person. The increasing public 
profile needs to be taken into consideration. 
talk later.. 
Date: Sun, Dec 28, 2014 at 5:18 AM 
Subject: jobs ahead 
To: Brad Wechsler 
, Melanie Spinella <  _ 
>, Ada Clapp 
1. review accounting system. Book keeping softaware. staff, ( senior accountant ) methods on line 
banking, brokerage. cash mgmt. airplane reimbursement. boat sale. art purchases sales use and sales tax. 
tax filings FBAR FATCA, gaming commsion, pfics, insurance . uk co law. 
2. review does for TRA BRH grats, trusts, heritage will, insurance, art lending. medical, springing 
powers. two fire drill books. one needed for injury, other for death 
3 review bills. boats , planes, legal, ( PW, McFarlands all outside. legal and accounting. Toms bills 
over 400k. house projects. south ny ben 
4 cashflow projections tax projections , interaction with Apollo accounting tax, Phaidon ,art space ,and 
Regan. legal accounting. audit 
5. children meetings, review to date and allocations 
6 review all role in payables. files scanned, no paper 
7 review invesmtents for tax basis and unrecognized gain 
8 schedule of all hedge funds . redeemables commitments etc. 
9 charities pledges strucutre, staff, 
Date: Fri, Feb 20, 2015 at 5:52 AM 
Subject: 
To: Melanie Spinella <____________________________ 
1) pg 1 A"" unequal shares"" . pg 23 ""removal of trustees "" absolute. dont be confused with abiltiy to set 
up seperate trusts„ 2) I am reachable this afternoon in europe. on cell. 3. on another note . -our 
financial agreement ended months ago . seperate from the art partnership (which i was told yesterday to 
my amazement is still not funded) . i am obligated to complete ? the time i have dedicated since oct/ 
dec has been spent mainly as your friend. tom, brad though i am fully cognizant of my responsiblities. I 
will try to help find people. I am not good at human resources. howevr If I don;t think they are good 
enough for you. I will continue to say so , and you obviously decide. but I will reiterrate even in the face 
of your ""nobody is good enough argument."" keeping foremost in my mind that you and I have only beeen 
shown a very tiny handful of people. 4. I find the friction over fees , counterproductive, in an attempt to 
avoid it I had suggested a multi year deal early on. you rejected it. I then suggested, and urged you to 
have an option at a fixed fee , you also rejected that .you wanted the fee payment only at the end I argued 
but ,conceded. I suggested a structure that tom didn't like, you rejected it . 5 I suggest you make a fair 
proposal.- that i can either accept or reject. some payment up front this time is a requirement. I am willing 
to modify any outstanding obligations. - there are creative ways to assure you of your desired 
characterization of those payments. 6 you should open accts at Deutsh. and goldman. I am told that 
eilleen has set up over one hundred bank acccts for you???!!. few relevant 7 you should immediatly 
demand a list of all her acct authorites, exec poistions . director etc. bank authorizsations. etc. talk 
later or over the weekend if you like 
Date: Wed, Dec 9, 2015 at 10:16 AM 
Subject: Fwd: 
To: Jeffrey Epstein leevacation@gmail.com> 
kkkjkjjjkjj you said 
HOUSE OVERSIGHT 023216 
Date: Tue, Feb 24, 2015 at 8:20 AM 
Subject: 
To: Melanie Spinella 
Leon, 
Yesterday , I again spent hours upon hours of my time with your office. ,( speak to brad to get 
flavor) and you and i will discuss the results in gory gruesome detail on Friday. it mirrored many other 
weeks spent doing the things that I don;t have the time to do. 
In order to keep things in perspective, maybe reviewing an analogy I have used before with you, 
might be helpful. You and your family are a 6 billion dollar corp. with an income between 250 -500 
million dollars per year. It contains a few operating biz's , a large wide array of existing investments, 
in various categories , a desire to enter into others. A panoply of loans, notes. purchases, wide range 
of all types of taxes. , planes. boats homes. . trusts ,grats. a crazy number of bank accts. ( with no 
oversight ) . law firms, acct firms, 800 page tax returns, foreign firms. art consultants. 
construction consultants bill payers, home mgmt.,vast multitude of llc's , including foreign, and with 
all that you only have a combined overhead of less that 3 million dollars. 
I have previously sent you the very same note that i have enclosed again below ,this time with 
highlights . I wrote it to you over a year ago. As my acute disability ( selective memory) seems to 
have been raised as one of your concerns , as a rule I try to memorialize things in writing in an 
attempt to lay out issues that I fear may later turn out to be a problem. ie what i would and wouldn't 
do , - my responsibilities. etc and those things that are not. below you will find details of things that I 
thought needed to be done, so that you wouldn't find yourself in the very place where you currently 
find yourself. however ,you chose to defer many of my suggestions- see below -,until only weeks ago. 
! you chose to defer the jpm acct. the art partnership on and on - into this year. and though the 60- 50 
40 timber emails all carried with it a clear warning that you needed to do something re personnel if it 
were to stabilize,- you chose to wait. 
ONE YEAR AGO 
Feb 17 2014 i wrote: 
With regard the more pressing issue I am uncertain of just how to proceed. I am torn, as my very 
strong inclination is not to be involved at all . It is extremely time consuming, delicate, fraught with 
many pitfall many that will make you very upset and a major pain in the ass. I wrote you months ago 
that the quality of the people involved need to be upgraded. ( lucky for me these last issues arose way 
before the beginning of my involvement ) I am also aware however of my overarching friendship 
obligations of ok, -given all the complexities who else can do it? problem. 
Your family office needs a daddy. children with good intentions are running around, sniping, 
nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take 
charge Everyone would report to him. Eileen included. He would however work for me. this is not, 
by a long shot my first choice as I prefer only being responsible and standing behind my own 
personal work ( ie the word DONE will no longer be transmitted to reflect status stated by others ) 
With no commitment on my part whatsoever, to do it. So far as I have failed in my attempt in 
trying to think through the problem creatively . My organizations handling of the more complex 
issues I believe you might find very costly, very! ( however many structures available some risk 
sharing, maybe risk caps ,etc ) but would require my teams doing the work , not yours. Ada should 
be only a trust, grat administrator, not sure what role you prefer for Eileen as you hired her initially to 
oversee investments. whether Rich your controller stays or not, is not urgent. having Tom report to a 
HOUSE OVERSIGHT 023217 
new person,- is. coordination with Suydam Kathy Gregory, I would suggest limiting to one person. 
The increasing public profile needs to be taken into consideration. 
TODAY 
With your acquiesence , Eileen did not report to Delson ( he acting as a conduit directly to me) , she 
continued to provide bad info to both you ( cash flows , stock accts, structures. sales Etc) and me. 
and each time with my many annoying calls to you made immediately afterwards that she was g.....y!! 
No one was hired to run YOUR office until two months ago , no one was even interviewed and even 
now , Brad, a very nice man, is not even full time,(crazy ) Hours upon hours of time need to be spent 
training him. and his new staff. Eileen followed your instructions, not mine, in fact she continued to 
ignore mine saying "" but Leon said "" or"" its on Leon's desk etc "" , You would become frustrated 
when i pointed out each instance, of her obfuscation. originally you were given the clear choice, but 
to save money ,you chose not to hire my team. I was hired to do the architecture, you kept your own 
team. with Eileen at the head. instructions were given by me„ detailed but ignored by her. ( except in 
the instances where I inserted myself and personally had to do the weeks of grunt work 
),ex. jpm morgan acct still not in use? That being said, If you do the cold calculation ,starting from 
where you were, to where you are currently . you have made a hell of a deal. -- negotiating down 
my original amount requested, calling upon our friendship and suggesting that the Carlyn mess was 
partially my fault. ( though in that specific example , I had never been asked to do more than merely 
provide you the name of the most highly recognized atty in the field, not consulted,nor even asked 
again for my guidance along the way. ). I accepted the discount as your friend. ( by the way 
„suggesting now, that your Tom is now that last word on tax characterization, frankly is a bit much,-). 
however - that is all in the past. 
In order to move forward 
I would ask that you realize that very unlike yours, My business is only comprised of my personal 
attention and my personal time . Time that I was forced to grossly overspend on your various issues 
last year. . As you are my very close friend I will not have you participate in a bidding process that I 
have decided i will have this year for my time. (hopefully a more fair way to allocate ) I would also 
ask that you keep in mind that though our deal expired months ago. (also keeping in mind , that your 
understanding of the final payment terms neither reflected the emails or my memory, we finished it up 
your way. ) I have answered every call Brad , joslin, Ada or you, have made . reviewed docs over and 
over/ until once again, I was forced to insert myself strongly as I thought it dangerous not to. I made 
serious dollar and time concessions last year.very serious I am wiling to continue to accommodate 
some of your concerns , but I am, under no circumstances , none, willing to spend my time for free. 
its not fair. After cleaning up Carlyn's mess , which was a few weeks and 30 million dollars . We 
were both highly aware of the dire circumstances in which you found yourself last year, and in fact due 
predominately to its seriousness, and those very circumstances I took extra care in our negotiations . 
(you had claimed I had you over a barrel , ( a horrible position to be in with my very close friend.), 
unfortunately I fear that if you are not cautious ,in the near future, another barrel will appear of your 
own design ) 
I heard you when you said you believed i had already been paid for the work that is now required. The 
art partnership has fully answered all your concerns and discharged all my obligations and more so. 
. ( FYI Carlyns art partnership that you referenced is similar in only its title. ) You will also recall 
that you required that my payments be at the end of my work not at the beginning as everyone else's.( 
my work was never to include hours upon hours of training your staff). I eventually agreed, this of 
HOUSE OVERSIGHT 023218 
course should make clear that the 2014 tax year that will close Oct 2015 is not covered by our past 
agreement at all. I pointed this very fact out to you when I initially proposed a multi year agreement 
right out of the box. you said you preferred not. As you said ,I have produced results to date, far in 
excess of even my own exalted opinion of my projections. I have devoted a monumental amount of my 
limited amount of time-- way, way in excess of our agreement. I will be fair, I am willing to roll in 
the amount still outstanding from last year if that helps .. However, As my best student , and my only 
one, you are now capable of doing most, if not all, of the required work yourself. I can put my 
whiteboard away when you come to eat and just have fun, trade stories,, share moments ideas etc. . I 
am of course always available to guide you as a friend if you choose that route. always. It will take a 
great deal of your time , but you will not have to spend any more money on mine . 
We are scheduled to meet fri at 430 , I leave at 5 am sat morning. 
Date: Fri, Dec 11, 2015 at 12:19 AM 
Subject: Re: Fw: sched 
To: ""jeevacationAgmail.com"" <jeevacationAgmail.com> 
Cc: ' 
1______________________________________________________ 
Jeffrey-joe tells me yau want this to go live on 12/21. Possible, but an awful lot has to 
go right next week logistically for everything to fall into place. We'll try.... 
From: Brad Wechsler 
Sent: Thursday, December 10, 2015 05:36 PM 
To: leevacation@gmail.corni <jeevacation©gmail.com> 
Cc: 
Subject: Fw: Fw: sched 
On different subject: general time frame is: docs (notes and purchase and sale 
agreement to you tomorrow end of biz); incorporate your comments monday and get 
docs to trust attorney tuesday; contemporaneously meet in person with you tuesday or 
wednesday and do a dry run. On these days ada will also take the trustees through 
outline of docs they will receive thursday. Docs to trustees, leon et al on thursday and 
signatures gathered by friday for first close 12/22. Tight but doable. Ada, alan agree? 
PS: ada, you shld begin to think abt where people are (jh, rr, bc, ldb) next week. 
From: Heather Gray [mailto________________________ 
Sent: Thursday, December 10, 2015 05:24 PM 
To: Brad Wechsler 
Cc: Jeffrey Epstein (jeevacationOgmail.com) <jeevacation@gmail.com> 
Subject: RE: Fw: 
Subject: Re: Fw: sched 
Barry-what we're going to do with jeffrey will be ""small picture"" and detailed. It might be better for you 
HOUSE OVERSIGHT 023219 
and jeffrey to have a higher level conversation some time next week; either way you'll have access to 
everything, obviously. 
From: Barry J. Cohen [mailtc______________________________ 
Sent: Thursday, December 10, 2015 05:55 PM 
To: Brad Wechsler 
Subject: RE: Fw: sched 
I wouldn't mind attending a meeting or portion of a meeting with JE. If he is the mastermind, and you 
want to move quickly, it might get a lot of questions resolved quickly. 
From: Brad Wechsler [mailto: 
Sent: Thursday, December 10, 2015 5:37 PM 
To: leevacationAgmail.com' 
Cc: 1___________________________________________________________________INIelanie Spinella; Barry J. Cohen 
Subject: Fw: Fw: sched 
On different subject: general time frame is: docs (notes and purchase and sale agreement to you tomorrow 
end of biz); incorporate your comments monday and get docs to trust attorney tuesday; 
contemporaneously meet in person with you tuesday or wednesday and do a dry run. On these days ada 
will also take the trustees through outline of docs they will receive thursday. Docs to trustees, leon et al on 
thursday and signatures gathered by friday for first close 12/22. Tight but doable. Ada, alan agree? 
PS: ada, you shld begin to think abt where people are (jh, rr, bc, ldb) next week. 
From: Heather Gray [mailto______________________ 
Sent: Thursday, December 10, 2015 05:24 PM 
To: Brad Wechsler 
Cc: Jeffrey Epstein (jeevacation@gmail.com<mailto:jeevacation@gmail.com 
leevacation@gmail.com<mailto:jeevacation@gmail.com>> 
Subject: RE: Fw: 
No, I'm meeting with him at 9:30 am tomorrow. 
Date: Fri, Dec 11, 2015 at 9:49 AM 
Subject: fee 
To: Melanie Spinella <____________________________ 
elegant solution ;re fee., 30 million paid now. with purchase of noel kalb, paid with funds from the 
drawdown. you should use and keep open the line for the full 30m and leave it outstanding until its 
expiration. in four months. legit biz reason, very nice, - the balance of the fee - paid in kind either low 
basis art . or interest in either milenium ,lone cascade ,or king street. 
Date: Tue, Apr 14, 2015 at 5:53 PM 
Subject: 
To: Melanie Spinella 
saved you 500k at the last minute, . brad has had the same chart since march 16th, its his job to review 
NOT MINE .appears he is one of those living in the dark leiwe. I found 8 million dollars today, missed 
deductions. . not yet in the numbers,.? 
Date: Wed, Apr 15, 2015 at 8:59 AM 
Subject: 
To: Melanie Spinella < 
> 
HOUSE OVERSIGHT 023220 
1 did the paul weiss bill get paid ??? 2. Talk to me before signing anything today important 
10m paid today to gratitude america, a 501 c 3, willl make last year complete. 20 million paid today 
ftc. 10 million july 15 5 million sept 30. , 5 million jan 1 for all of 16. tax savings paid at 37 percent. 
of net. savings. 50 million credit. net. so 150 million free. 600 savings 225 million owed. - 50 credit, 
175 owed. 
Date: Mon, May 18, 2015 at 8:17 AM 
Subject: agenda for tomorrrow 
To: Jeffrey Epstein leevacation@gmail.com>, Melanie Spinella <_> 
as a reflection on your voiced spirited concerns in the what have you done for me lately category ? )):: 
in the beginning . there was eileen and tom. ( eve and adam,-- however it appears, she declined to eat 
the apple from the knowledge tree) 
. that was it. ada was at the bank but reviewing does. carlyn was in the kitchen making mush ( abel and 
cain) 
books as they were mystersiously called was being kept soley by eileen, with little or no input ,correction 
or advice from tom. herarely if ever asked questions. expenses ie airplane was done in house apollo. 
(1031 exchange blown etc) at this time 
as I recall you got quite annoyed, and agressive and initiated the"" talking out of the both sides of your 
mouth "" tiddy, when i suggested that the level of their competence left much to be desired. ( ralph lerner's 
came later ) .response - eileen ran the desk, tom is a partner, ralph wrote the book etc 
re tax there was almost no oversight of income, estate, gift ,sales and use, transfer excise etc . IRS 
SEC GAMING NYS. real estate, valuations ( many )tax filings- disclosures, etc. re grats trusts defect 
trusts, llcs corps , trustees , partnerships. foreign corps. 100 bank accounts. gift taxes„ loans, notes. 
payables. expenses. . , insurance.( life, art, split dollar), cashflows, operating biz„ investments, 
contingent liabilitiites.( funds , miami ) , commitments dividends, BRH TRA, shareholder agreements, 
bank loan agreements. wills, construction„ contracts planning permits etc.. employ rules. checking 
account reconciliations, crediti cards. jewelry, cost basis ,( art stock etc.) foundations regs , brokerage 
accts, old stock certificates. stock options,( environmental solutions still not done D. estate tax 
calcualtion firedrill, ( note ,basis etc ) low basis, step ups , however with no accounting system, no 
reveiw of boat expenses plane expenses etc. . many outside counsel with litle or no coordination. 
Paul Weisss , Mcdermit Will, Macfarlanes. Price Waterhouse , Reich, withers bergman, Empire„ akin 
gump, bbd seidman, Wendy, Apollo in house. 
lumber, knowledge universe, ennvironmental, solutions 12 mu i in stock, . on and on 
the priority list that you asked me to prepare for brad and you in dec , unfortunatlleyso far, little change 
ie no accounting system that ties, no, brokerage accounts though strongly suggested, jpm db, gs, april 
of 2014 . IT antiquated 
dagastino hired , no inut from me, julie, temps, paralegals miriam. etc. 
still need new accounting system - on line banking staff hires. ( seprate from samantha two years out of 
school ). audit system, . ?? john murphy? joslin? dag? eva?. i strongly suggest workers at the highest 
level of competence. two senior accountants. not managers workers who will get into the weeds. partn 
expertise„ replace ava, get heather help. a new person legal , new IT,system and person, way way 
overdue, new receptionist, bill opener, ability to oeversee 
in house, boat plane review household ( 12million ) review, filings- partnerhip accounting,- familitarity 
with grats, trusts etc . audit system put in place. that should be the easy part. then strategy to deal with : 
As new facts on the ground develop, phaidon debra, children meeetings, ? stock sale sale of art„ apt( 
large gain ), 1031 trade in , plane depreciation, boat sale. construction, brad will oversee brokerage and 
HOUSE OVERSIGHT 023221 
investment, ?? pe. real es, . publishing, grats, tra, brh ( death). foundation , museum, tax proejctions cash 
flow projections, cooridnation with tax from apollo. etc 
Date: Thu, May 28, 2015 at 8:53 PM 
Subject: ulysses 2.0 ____________________________ 
To: Melanie Spinella < 
I realize it is only due to a lack of understanind of the job ahead. and not out of any sense of 
unwillingess to pay 
- as opposed to merely hiring people to set up a family office, someone will have to do the following-
separate from the art partnership which is my responsiblity. there still needs to be a huge amount of 
work done for 2015,16. not to mention that brad at the moment is going to have train the incoming 
team?? your call 
strategic decisions re estate and other planning , sale of phaidon etc. . in addition setting up for the 
accounting for each strategy ie.: 
income, estate, gift ,sales and use, transfer excise picasso, 1031 calder. . review and detailed oversite 
of IRS SEC GAMING NYS. real estate, entity valuations ( many ) tax filings- disclosures, follow 
up of grats, trusts ,defective trusts, llcs corps , trustees , partnerships. foreign corps. 100 bank 
account need to be rationalized, not only having brad step in to children investments. gift taxes, trust 
, loans, notes. payables. expenses allocations. . , insurance.( life, art, split dollar), cashflows, 
operating biz„ investments, contingent liabilitiites.( funds , miami ) , commitments funds and charities 
, dividend treatment -important review of transcations relating to BRH ( amendments) TRA sale ( 
nuanced ) , shareholder agreements, bank loan agreements new bank relationships.. wills, 
construction accounting and oversite , contracts planning permits etc.. employee rules, regs,. 
checking account reconciliations, crediti cards. jewelry, cost basis ,( art stock etc.) foundations regs 
, brokerage accts,. stock options,( ie environmental solutions still not done !). estate tax calcualtion 
firedrill, ( note ,basis etc ) review of boat expenses plane expenses, depreciation issues refunds etc. . 
rationalize all outside counsels and accounting firms 
Paul Weisss , Mcdermit Will, Macfarlanes. Price Waterhouse , Reich, withers bergman, Empire„ 
akin gump, bbd seidman„ Apollo in house counsel. 
set up and oversee brokerage accounts at JPM DB GS and thoughfullly trade 
. new IT system from top to bottom full time IT person 
new accounting system - on- line banking cooridnated with reports . fire drills as per caruci ( he 
sounds good ) and. audit system,s . review of john murphy? joslin? dag? eva?. 
in house, review household ( 12million ) review, filings- partnerhip accounting,- familitarity with 
grats, trusts etc . audit system put in place. that should be the easy part. then strategy re: 
As new facts on the ground develop, phaidon debra, children meeetings, involvment , trustees 
adjusted, stock sale sale of art„ apt( large gain ), 1031 trade in , plane depreciation, boat sale. 
construction, brad will oversee brokerage and investment, ?? pe?. real estate?, . publishing, 
grats, tra, brh ( death). foundation, museum, tax proejctions cash flow projections, cooridnation with 
tax from apollo. etc 
you are sitting on over 100 m of cash???!! 
Date: Fri, Jan 2, 2015 at 2:55 PM 
Subject: 
To: Melanie Spinella <___________________________ 
Leon, I decided last week that there was little or no upside in disturbing your well earned holiday 
HOUSE OVERSIGHT 023222 
especiaily as you seemed so peaceful happy and smiley ,getting yourself in shape and truly enjoying your 
family time. etc. however the situation in your family office is unresolved. I am aware that brad starts 
monday howver, two last days of the year madness. timber.deal not complete no jpm,acct activity no 
partnership docs, old stock sales not complete , no bank doc redo. no phaidon note restructure, ., no 
boat expense review, airplane same ,topco midco.etc still not finished ( trustee ) , projections mixed 
with fiction. , legal exp out of control. no care for admin, silly ( audit). tom conversation with joslin. 
notes. debra, trustee notes. trustees hiring. bens audit. interest payable made hoopjumping last day of 
year. after weeks and months. of lectures , gifts to discuss- staff. -houseproject mgmt. . I will continue 
to try, I had offered ajoint call with eileen before you left. as i said before , joslin takes instructions from 
eileen. he said it was made clear to him that he doesn't work for me but works for you. . I tried. 
Date: Tue, Dec 29, 2015 at 7:26 AM 
Subject: Fwd: leon DO NOT SEND, hand deliver. 
To: Jeffrey Epstein <jeevacation@gmail.com> 
Transaction complete ! 
. this - in spite of your collection of Elysium misfits. !!! 
With Brad out of the office and unable to run his usual interference , the level of his utter incompetence 
was brought front and center, he may be a step up from Eileen, but if he is, then it is not certainly not by 
much, . Though you and I have spent many many hours discussing the importance of details and 
mechanics I was not shown one document re phaidon,- not one.. Brad wanted to keep it private between 
he and his so called"" advisors"" however as he was out of the office during the most important 
transaction of the year, I did get to spend time with joslin Joe and john, - the situation in your office is 
wholly ludicrous - to summarize - the list I provided to Brad last December - things I thought were a 
priority to get done after consulting with your office still remains virtually undone. 
IT, still desperately needed- reporting flawed cumbersome and inaccurate . all done by hand as one -off 
exercises, - airplane: re structure, (my only suggested priority in june ) is really ,no further ahead, 
,consultants up the kazoo but nothing at all done.( the office was told that i cannot even see the proposals 
received without brads specific authorization ) - brad has no idea even as to what questions to ask. he 
knows little of finance, is run roughshod over by almost everyone in the office. he is a little man, using 
your power, to appear larger . Eileen was self aware enough to know she was over her head , that is a huge 
difference. bad info is rampant ie 3 million in deductions Im told are taken for art space but on closer 
examination it turns out they cannot be used at all. ( ZERO benefit ) though you will be told yes they 
were deducted on the return they said that is the question they get asked ! "" were they deducted "" not 2 
is there a benefit"" !! I asked for the balance sheet and P and L for Regan arts , a basic first step in 
order to check your financials. ""sorry we never got one?"" though 9.8 million invested, no p&l, nothing, 
a construction project run amok , no budget, the coo fired after only 3 months., no clue. I can add that 
artspace financials are also a total mess. 
As your friend and in order toturn the page. I will try to be constructive 
The following is a list of things I think would be in your interest to get done asap .but definitely not by 
me. 
i suggest you form new grats. , hire a high level tax partner. use your trading accounts as they remain 
the paramount requirement 16 months after i emailed to you their importance. , I suggest you consider 
having the 49percent of phaidon merged into artspance and have Richard buy artspace. re-do bank 
loans, no need to pay interest at higher rates on boat or plane. . as Richard is now no longer trustee. re-
do will, make suydam executor, with Barry, and john as back up. pay 1 million a year for executor role. 
get rid of Judy Black trust, deal with gifts and their tax returns, . review amounts to kids at fixed ages. put 
more protections in for Alex and Victoria. , distribute some money to kids let them make decisions. , 
HOUSE OVERSIGHT 023223 
decide art division with children in attendance . have fire drill done on estate. fill out estate returns as if 
you and Debra died today, choose advisers - rick bronstein said the only 1040 he ever filled out was his 
own. ( this is brads chosen advisor??!) Halperin has a conflict that should be addressed., Debra should 
enter a tenants in common agreement with kids. you have airplane consultants tax consultants it 
consultants. plane operation consultant. . boat consultants. architects, lighting , art, legal, . foundation, 
deal with TRA , BRH , rationalize investments, cash flow, reporting, gaming disclosures, foreign, gift. . 
prepare tax projections for 15 and 16, . deal with neg basis ( tufts gain, debt financed, art partnership, 
pledges. sell stock, art, deal with phaidon debt. athene,? income, capital, foreign, exit, corporate, 
insurance regs, out and inbound issues, basis, appropriate discount rates. ? terminations. control. , 
qualified dividends, corporate tolls, inversion rules. , grat issues, short swing and other sec disclosures, 
Rothshcild bank, 150 b they have a distribution network with no products , private bank Rockefeller 
Rothschild financial service, deal with UK visa issue sooner rather than later. we can talk about Rowen 
request re Athene , 2 billion in taxes on transaction. ?! 
the facts as i see them 
in June and then again Sept, we both agreed to a 50% of phaidon payout., then after weeks of thinking 
about the issue ( which I fully understand ) . the payout was unilaterally changed. 5m woudl be reserved 
for the future ? . and out of the remaining 15m,? i would receive only 5. ( note : I'm confident that both 
the debt, and the artspace investment will also lead to a write off of another 30 m. plus ) In my dining 
room ,you were surprised when I said that i require most people to pay their advisory fee up front so that 
I am assured that I will be properly compensated for my work when strategies that I devise are 
implemented. you may recall that you appeared offended and said "" are you suggesting that i would go 
back on my word"" I said no, of course not ! you are my closest of friends ,but my experience is that 
when amounts get large, people tend to get unhappy when it actually comes time for them to pay,. 
From day zero a 50 - 60 million price was attached as the fair price of the transaction just completed . 
though this amount was already substantially less thanour agreed and negotiated formula. - I was 
never told that this was out of range. in fact, alternative methods of payment . plane -in-kind etc, were 
discussed ( ie keeping the 30m portion of fee outstanding till March ) ,I provided as requested a 
detailed step by step execution plan and reviewed all documents that i was given access to. ( Phaidon 
was not forthcoming ) in order to make my many corrections. I was then told that Alms involvement 
warranted a discount. Even in the best of light , though it is beyond question that not one-,not -one 
time in three years has he ever proposed a unique idea. (including the new tenant in common idea,) and 
lets say he made a contribution to the plan andeven that it was 50 %. though no one could posit such a 
large amount unless they were wearing a brightly colored clown suit., the price of doing the deal was 
known . It had both sent in writing and spoken about on the phone numerous times, a detailed 
execution plan was provided. then and only then after all was laid out for the group I was told that after a 
number of conversations with brad karp that only 20m would be paid, (and even that was more than 
originally contemplated ) for both transactions . I feel It was remarkably unfair. Did brad even know of 
our prior agreement.? I called him and he said he was never told.?, I would ask that you I and Brad karp 
sit together if you think it would be helpful. . I would like to send him this email, with your consent of 
course. If the transactions were never consummated, i would not be owed a dime, however , the price 
was known up front. , the detailed step by step plan was followed and overseen by me, the price that had 
been requested before the transaction was begun, and had lready heavily discounted, out of friendship, 
from our agreement . I believe the decision re paying only 20 m has franldy left me felling quite uneasy. 
since you asked since last nov. i found 11 million dollars in dormant accounts. 4 million dollars in 
eileens drawer.. went through cash flows for phaidon shwoing that john murphy is not an accountant. 
HOUSE OVERSIGHT 023224 
redid your gagosian contract , . organized structure in case of divorce, set up gift trust. stopped ada from 
including multiple times things not in your interest, dealt with bad sales tax use tax income tax . created 
8 millino in deductions ,500k in mistakes , found bank of scotland fbar problems,. . reorg bad art 
purchases, funds taken„ charibale decustions , helped with fincnacil sttment gamoing commions fling.. 
boat deductions, rescued stock from grats. . may 1 after months of brad not finding anyone i sent an 
email saying you would have to pay more. . on april 15. I sent an email detailing payments owed if i could 
figure out the basis issue, please see attached, . 
questions you might ask your team ask them to provide a balance sheet or p&l for REgan arts. 
doesnt exist 
ask. either wechsler or haperin to tell you what brh is, or how the tra works. . . ? as bronstein to tell you 
why the proposed phaidon transaction DOES not work. . as them to give you a plan for the plane. ? ask 
them to show you the cash mgmt for over 100 million dollars. . ask them to show you the IT system 
progress after one year. . the approval process for payables. . the cash flow projections? assumptions? ask 
for a comparative review of investments, ask haperin to describle to you in any detail BRH, the major 
asset of his two biggest clients, tax basis, disposiotion in the estate. . etc. ask brad to show you the 
liquidation of the inteveing art space cos? . 
Last year you asked, for my help I told you I preferred not as we would be better off having no financial 
intereactions. the risk was not worth it. You told me that as my friend i had to do it I agreed., here 
we are in what I find to be an awkward situation. the transactions that i decvised were used , our 
agreement was ignored. and im not sure how to respond. 
since you asked since last nov. i found 11 million dollars in dormant accounts. 4 million dollars in 
eileens drawer.. went through cash flows for phaidon shwoing that john murphy is not an accountant. 
redid your gagosian contract , . organized structure in case of divorce, set up gift trust. stopped ada from 
including multiple times things not in your interest, dealt with bad sales tax use tax income tax . created 
8 millino in deductions ,500k in mistakes , found bank of scotland fbar problems,. . reorg bad art 
purchases , funds taken„ charibale decustions , helped with fincnacil sttment gamoing commions fling. . 
boat deductions, rescued stock from grats. . may 1 after months of brad not finding anyone i sent an 
email saying you would have to pay more. . on april 15. I sent an email detailing payments owed if i could 
figure out the basis issue, please see attached, . 
questions you might ask your team ask them to provide a balance sheet or p&l for REgan arts. 
doesnt exist 
ask. either wechsler or haperin to tell you what brh is, or how the tra works. . . ? as bronstein to tell you 
why the proposed phaidon transaction DOES not work. . as them to give you a plan for the plane. ? ask 
them to show you the cash mgmt for over 100 million dollars. . ask them to show you the IT system 
progress after one year. . the approval process for payables. . the cash flow projections? assumptions? ask 
for a comparative review of investments, ask haperin to describle to you in any detail BRH, the major 
asset of his two biggest clients, tax basis, disposiotion in the estate. . etc. ask brad to show you the 
liquidation of the inteveing art space cos? . 
----------Forwarded message---------- 
From: jeffrey E. leevacation@gmail.com> 
Date: Tue, Apr 14, 2015 at 5:53 PM 
Subject: 
To: Melanie Spinella ______________________________ 
saved you 500k at the last minute, . brad has had the same chart since march 16th, its his job to review 
HOUSE OVERSIGHT 023225 
NOT MINE .appears he is one of those living in the dark leiwe. I found 8 million dollars today, missed 
deductions. . not yet in the numbers,.? 
----------Forwarded message---------- 
From: jeffrey E. 1 eevacation@gmail.com> 
Date: Wed, Apr 15, 2015 at 8:59 AM 
Subject: 
To: Melanie Spinella <________________________________ 
1 did the paul weiss bill get paid ??? 2. Talk to me before signing anything today important 
10m paid today to gratitude america, a 501 c 3, wall make last year complete. 20 million paid today 
ftc . 10 million july 15 5 million sept 30. , 5 million jan 1 for all of 16 . tax savings paid at 37 percent. 
of net. savings. 50 million credit. net. so 150 million free. 600 savings 225 million owed. - 50 credit, 
175 owed.  600 savings 225 million owed. - 50 credit, 175 owed.  
Date: Tue, Jan 5, 2016 at 6:36 PM 
Subject: Fwd: leon DO NOT SEND, hand deliver. 
To: Jeffrey Epstein leevacation@gmail.com> 
Transaction complete! 
When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple 
times that i thought it was a very bad idea, in that I preferred to have no financial interactions. I dont 
have many friends and didnt want money to interefer with our unique relationship. For five years you had 
the kind but goofy Eileen Alexandersson managing your accounting, legal, investments, reporting, trusts 
etc. When I told you in no uncertain terms that I firmly believed she was incompetent you admonished 
me for"" speaking out of both sides of my mouth"" . With regard Brad Wechsler, there is no "" both sides. 
"". I have consistantly maintained since day one that he was highly unsuited for the job. When you initially 
asked me to help convince him to take the role , promising him a postion to manage mirage investments I 
sent you a note saying instead you should pay up and get first class people. I have reiterated the same 
message for over a year now. . Brad, not me was tasked with hiring new people and as you wanted him 
to take ownership of the staff,he conducted many interviews, you may recall that as late as may, you told 
him in my presence that he had had six months and had not hired anyone. since then I have rectified 
errors in sales tax, use tax, income tax, fbar reporting, 1031 reporting, 8 million of deductions. ,( last nov 
) 11 million found in dormant accounts and 4 million in the drawer. errors in cash flow both personal and 
Phaidon. Oversight on new grats first at 22 and then at 19 that were done without my consulatation were 
resolved only as aresult of my intervention. . 600 million in after tax savings was just accomplished. 
With Brad out of the office and unable to run his usual interference , the level of his total and utter 
incompetence was brought clearly, front and center. He may be a step up from Eileen, but, if he is , then 
it is certainly not by much, A major difference is that Eileen knew she was over her head. Brad struts his 
stupiditly whenever he gets a chance. 
A critical example. - Though you and I have spent many many hours discussing the importance of 
care and attention to details and mechanics with regard Phaidon I was not shown one single document, 
not one.!! Brad wanted to keep it private between he, and his so called"" advisors"" however as he was 
out of the office during the most important transaction of the year, I did get to spend time with joslin Joe 
and john, - the situation in your office is totally ludicrous - to summarize - the list I provided to Brad 
last December - of things I thought were a priority to get done - still remains in the whole unresolved. 
The IT, is virtually untouched and is still in desperate need of a format - reporting flawed cumbersome 
and inaccurate . all done by hand as one -off exercises , when either you or brad ask for it - airplane: re 
structure, (my only suggested priority in june ) is really ,no further ahead, consultants up the kazoo but 
nothing at all done.( the office was told by Brad not to share the outside proposals with me - brad has no 
HOUSE OVERSIGHT 023226 
idea even as to what questions to ask. he knows little of finance, is bullshitted over by almost everyone in 
the office. a little man, using your power, to appear larger . Eileen was self aware enough to know she 
was over her head, that is a huge difference. bad info is rampant a simple emblematic example- 3 
million in deductions Im told were taken for art space but on closer examination it turns out they cannot 
be used at all. ( ZERO benefit ) though you will be told yes they were deducted on the return they said 
that is the only real question you were focused on ! "" were they deducted "" not 2 is there a benefit"" !! 
I asked for the balance sheet and P and L for Regan arts , a basic first step in order to check your 
financials. ""sorry we never got one?"" though 9.8 million invested, no p&l, nothing!, a construction 
project run amok, no budget, the coo fired after only 3 months. , no clue. fyi artspace financials are 
also a total mess. ( no receivables ??). when i asked for a list of what got done and did not, i received the 
email from Brad basicailly mind you own business, so much was promised. !!! 
As in your words probably your closest friend and in order to turn the page. I hope the following to be 
constructive 
Here is a list of things I think would be in your interest to get done asap .but definitely not by me. 
i suggest you form new grats. , hire a high level tax partner. use your trading accounts as they remain 
a paramount requirement 16 months after i emailed you re their importance. THe Phaidon transaction 
papered and structured as contemplated DOES NOT WORK, its as simple as that. DOES NOT!! I 
suggest again that you re-do bank loans, no need to pay interest at higher rates on boat or plane. . as 
Richard is now no longer trustee. re- do will, make suydam executor , with Barry, and john as back up. 
pay 1 million a year for executor role. get rid of Judy Black trust, deal with gifts and their tax returns, . 
review amounts to kids at fixed ages. put more protections in for Alex and Victoria. , distribute some 
money to kids let them make decisions. , decide art division with children in attendance . have fire drill 
done on estate. fill out estate returns as if you and Debra died today, choose advisers - rick bronstein said 
the only 1040 he ever filled out was his own. Halperin has a conflict that should be addressed., A 
strategy of the use of art should be implemented. . you have tax consultants it consultants. plane 
operation consultant. . boat consultants. architects, lighting , art, legal, . foundation, deal with TRA, 
BRH , rationalize investments, cash flow, reporting, gaming disclosures, foreign, gift. . prepare tax 
projections for 15 and 16, . deal with neg basis ( tufts gain, debt financed, art partnership, pledges. sell 
stock, art, deal with phaidon debt. athene,? income, capital, foreign, exit, corporate, insurance regs, out 
and inbound issues, basis, appropriate discount rates. ? terminations. control. , qualified dividends. 
corporate tolls, inversion rules. , grat issues, short swing and other sec disclosures, I still think you 
might consider a Rothshcild bank transaction they have 150 b and a distribution network with no 
products , private bank Rockefeller Rothschild. financial service, deal with UK visa issue sooner rather 
than later. we can talk about Rowen request re Athene , complex 2 billion in taxes on transaction. ?! 
the facts as i see them 
in June and then again Sept, we both agreed to a 50% of phaidon payout., then only after weeks, when 
you delayed any detailed discussion of money wanting to give the issue a thoughtful response ( which I 
fully understand ) . you unilaterally changed changed our agreement.. 5m would be reserved for the 
future ? . and out of the remaining 15m,? i would receive only a third. ( note : I'm confident that both 
the debt, and the artspace investment will also lead to a write off of another 30 m. plus ) In my dining 
room ,you were surprised when I said that i require most people to pay their advisory fee up front so that 
I am assured that I will be properly compensated for my work when strategies are implemented. you may 
recall that you appeared offended and said "" are you suggesting that i would go back on my word"" I 
said no , of course not ! you are my closest of friends ,but my experience is that when amounts get large, 
people tend to get unhappy when it actually comes time for them to pay 
I included in this letter the email i sent to you on April 15, the day i was examining your returns It laid 
HOUSE OVERSIGHT 023227 
out my understanding of the compensation for a transaction of the magnitude to the penny of the one just 
completed. though the number was great it was clear. When it appeared that the details could now be 
worked out I was the first to say, it is too much money, however. 
From day zero I proposed to discount to 50 - 60 million the fair price of the transaction just completed. 
including Phaidon. . though this amount was already substantially less than our agreed and negotiated 
formula. - I was never told that this was out of range. in fact, alternative methods of payment. 
plane, or an -in-kind payment were discussed ( ie including keeping the 30m portion of fee outstanding 
till March ) ,I provided as you specifically requested a detailed step by step execution plan and reviewed 
all documents that i was given access to. ( Phaidon was not forthcoming ) in order to make my many 
corrections. I was then told that Alans involvement warranted a discount. Even in the best of light , 
though it is beyond question that not one time in the three years of his retainer has he ever proposed a 
unique idea. (including any wayt to deal with the use issue on debras death ,or even the most basic review 
of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to the plan and 
stretch reality beyond the pale and say it was 50 %. though no one could posit such a large amount 
unless they were wearing a brightly colored clown suit. , the payment associated with the deal was 
known . It had both sent in writing and spoken about on the phone numerous times, a detailed 
execution plan was provided. then and only then after all was laid out for the group I was told that after a 
number of conversations with brad karp that a total of only 20m would be paid, (and even that was more 
than originally contemplated ) for both transactions . Leon I feel It was remarkably unfair. I wondered 
whether brad even knew of our prior agreement.? I called him and he said he was never told.?, I would 
ask that you I and Brad karp sit together if you think it would be helpful. . I would like to send him this 
email, with your consent of course. If the transactions were never consummated, i would not be owed a 
dime, however , the expected fee was known up front. , the detailed step by step plan was followed and 
overseen by me, the amount that I had requested before the transaction was even begun, and had already 
been heavily discounted, out of friendship, from our agreement. I believe the decision re only paying 20 
m has frankly, left me felling quite uneasy. 
since you asked since last nov. i found 11 million dollars in dormant accounts. 4 million dollars in 
eileens drawer.. went through cash flows for phaidon showing that john murphy is not an accountant. 
redid your gagosian contract , . organized structure in case of divorce, set up gift trust. stopped ada from 
including multiple times things not in your interest, dealt with bad sales tax use tax income tax . created 
8 millino in deductions ,500k in mistakes , found bank of scotland fbar problems, . . reorg bad art 
purchases , funds taken„ charitable decisions , helped with fincancial statements, gaming commission. . 
boat deductions, rescued stock from grats.. may 1 after months of brad not finding anyone i sent an 
email saying you would have to pay more. . on april 15. I sent an email detailing payments owed if i could 
figure out the basis issue, please see attached, . 
questions you might ask your team ask them to provide a balance sheet or p&l for REgan arts. 
doesn't exist 
ask. either wechsler or haperin to tell you what brh is, or how the tra works. . . ? as bronstein to tell you 
why the proposed phaidon transaction DOES not work. . ask them to give you a plan for the plane. ? 
ask them to show you the cash mgmt for over 100 million dollars. . ask them to show you the IT system 
progress after one year. separate from making it more secure though you are not a trader with inside info 
the approval process for payables. . the cash flow projections? assumptions? ask for a comparative review 
of investments, ask haperin to describe to you in any detail BRH, the major asset of his two biggest 
clients, tax basis, disposition in the estate. . etc. ask brad to show you the liquidation of the intervening art 
space cos? that has been on the table for months. . 
Date: Wed, Jan 6, 2016 at 3:44 AM 
HOUSE OVERSIGHT 023228 
Subject: Fwd: 
To: Jeffrey Epstein <jeevacation@gmail.com> 
PLEASE READ CAREFULLY, 
Mark was here this morning , the proposed transactions are extremely complex. and would take a great 
deal of detailed time. I do not know how, and if ,to move forward - our last transaction. a transaction 
which you saved 600 million in tax. even if as you say it could be 20 years away, ( i hope longer) 
discounted to today is a savings of 300 million . for some reason you chose to ignore our agreements, 
verbal written and emailed -and decided that it was only worth 8 million dollars to you. . ( assuming 
phaidon -richard happens. the calculation that you can see is a 24 m savings not including artspace and 
debt benefits- certain to come later .. IMPORTANT NOTE 
: the phaidon transaction as currently contemplated will not work. NOT CLOSE 
When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple 
times that i thought it was a very bad idea, in that I greatly preferred to have no financial interactions. I 
don't have many friends and didn't want money in any way to interfere with our unique relationship. 
Reminder, For five years you had the kind, but very goofy Eileen Alexandersson as the sole manager of 
your massive accounting , legal, investments, reporting, trusts etc. When I first told you in no uncertain 
terms that I firmly believed she was incompetent you admonished me for"" speaking out of both sides of 
my mouth"" . With regard Brad Wechsler, there has never been a "" both sides. "". I have consistantly 
maintained since day one that he was highly unsuited for the job. When you initially asked me to help 
convince him to take the role , promising him a position to manage mirage investments I sent you a note 
saying that instead of hiring him you should pay up and get first class people. I have reiterated the same 
message for over a year now. . Brad , not me ,was tasked with hiring new people, according to his biz 
school org chart.(nauseating ) and as you wanted him to take ownership of the staff,he conducted many 
interviews alone. . you may recall that as late as may, you told him in my presence that though six months 
had passed he had not hired anyone. since then I have rectified errors in sales tax, use tax, income tax, 
fbar reporting, 1031 reporting, 8 million of deductions missed errors of millions on the returns. a cashflow 
that is misleading helped prepare financial statements ( april ) Oversight on new grats- first at 22 and 
then at 19 that were done without my consultation and were ""resolved"" soley as a result of my last 
minute intervention. . 600 million in after tax savings was just accomplished. (BTW- for some reason you 
left the 30 million outstanding that I had said should only be done"" if' that was my additional fee. and not 
used for non biz purposes and not art. 
Sorry but., 
in June and then again Sept, we both agreed to a 50% of phaidon payout first projected at 20 . but less 
when artspace and debt taken out, - then only after weeks, when you delayed any detailed discussion of 
money wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally 
changed our agreement. . 5m would be reserved for the future ? . and out of the remaining 15m,? i 
would receive only a third. ( note : I'm confident that both the debt, and the art space investment will also 
lead to a write- off of another 30 m. plus ) In my dining room ,you were surprised when I said that i 
require most people to pay their advisory fee up front so that I am assured that I will be properly 
compensated for my work when strategies are implemented. you may recall that you appeared offended 
and said "" are you suggesting that i would go back on my word"" I said no, of course not ! you are my 
closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it 
actually comes time for them to pay. 
I include below the email i sent to you on April 15, the day i was examining your returns It laid out 
my understanding of the compensation agreed for a transaction of the magnitude to the penny of the one 
just completed.ie 600m When it appeared that the transcation would and could go foward I was the 
HOUSE OVERSIGHT 023229 
first to point out that our agreement would cost you too much money, therefore 
From day one I proposed to discount our agreement to a 50 - 60 million range. An extremely fair price 
for all the transactions just completed . including Phaidon. - I was never told that this was out of 
range. in fact, alternative methods of payment. ie my plane, or an -in-kind payment were discussed ( ie 
including keeping the 30m portion of the fee outstanding till March ) ,I provided , only because you 
specifically requested a detailed step by step execution plan and reviewed all documents that i was given 
access to. ( Phaidon was never forthcoming ) in order to make my many corrections . ( as i said more 
needed on phaidon ) . I was then told that Alans involvement warranted a discount. Even in the best 
of light , though it is beyond question that not one time in the three years of his retainer has he ever 
proposed a unique idea. (including any way to deal with the use issue on debras death ,or even the most 
basic review of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to 
the plan and stretch reality beyond the pale and say it was 50 %. though no one could posit such a large 
amount unless they were wearing a clown suit. , the payment and our formula of 37 percent associated 
with the deal was known . It had both sent in writing and spoken about on the phone numerous times, 
a detailed execution plan was provided. then and only then, after the entire transaction was laid out for 
the group to follow You told me that after a number of conversations with brad karp that a total of only 
20m would be paid, (and even that was more than you originally contemplated ) for both transactions . 
Leon I feel It was remarkably unfair. Did brad even knew of our prior agreements.? ?, I would ask that 
you I and Brad karp sit together if you think it would be helpful. . I would like to send him this email, with 
your consent of course. If the transactions were never consummated, i would not be owed a dime, 
however , the expected fee was known up front. , the detailed step by step plan was followed and 
overseen by me, the amount that I had requested before the transaction had even begun, had already 
been heavily discounted, out of friendship, . I believe the decision re only paying 20 m has frankly, left 
me felling quite uneasy. and colors the view about the Athene or Rothschild transaction. 
Date: Wed, Jan 6, 2016 at 12:44 PM 
Subject: Fwd: 
To: Jeffrey Epstein <jeevacation@gmail.com> 
PLEASE READ CAREFULLY , 
In the spirit in which it is sent. our friendship is intact and solid , though ,it has taken a hit. 
Mark was here this morning , the proposed transactions are extremely complex. and would take a 
great deal of my detailed time. I do not know how, and even, if ,to move forward - . After months of 
hearing that you would have no problem paying a large fee if you could only ascertain value. The last 
transaction. a transaction which you saved over 600 million in tax. declared bullet proof by your attnys, 
and even if you want to disoccount for its future realization, creating a savings of over 300 million real 
dollars. For some reason you chose to ignore our agreements , verbal written and emailed -and at the 
very last minute, after the deal was complete decided that it was only worth 8 million dollars to you and 
your family. . ( assuming phaidon -richard happens. there is a 24 m savings not including artspace and 
debt write down benefits- certain to come later.. IMPORTANT NOTE 
: the phaidon transaction as currently contemplated will not work. WILL NOT!! 
When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple 
times that i thought it was a very bad idea, in that I greatly preferred to have no financial interactions. I 
don't have many friends and didn't want money in any way to interfere with our unique relationship. 
Reminder, For five years you had the kind, but very goofy Eileen Alexandersson as the sole manager of 
your massive accounting , legal, investments, reporting, trusts etc. When I first told you in no uncertain 
terms that I firmly believed she was incompetent you admonished me for"" speaking out of both sides of 
my mouth"" . With regard Brad Wechsler, there has never been a "" both sides. "". I have consistantly 
maintained since day one that he was highly unsuited for the job. When you initially asked me to help 
HOUSE OVERSIGHT 023230 
convince him to take the role , promising him a position to manage mirage investments I sent you a note 
saying that instead of hiring him you should pay up and get first class people. I have reiterated the same 
message for over a year now. . Brad, not me ,was tasked with hiring new people, according to his biz 
school org chart.(nauseating ) and as you wanted him to take ownership of the staff,he conducted many 
interviews alone. . you may recall that as late as may, you told him in my presence that though six months 
had passed he had not hired anyone. since then I have rectified errors in sales tax, use tax, income tax, 
fbar reporting, 1031 reporting, 8 million of deductions missed errors of millions on the returns. a cashflow 
that is misleading helped prepare financial statements ( april ) Oversight on new grats- first at 22 and 
then at 19 that were done without my consultation and were ""resolved"" soley as a result of my last 
minute intervention. . 600 million in after tax savings was just accomplished. (BTW- for some reason you 
left the 30 million outstanding that I had said should only be done"" if' that was my additional fee. and not 
used for non biz purposes and not art. 
Sorry but., 
in June and then again Sept, we both agreed to a 50% of phaidon payout first projected at 20 . but less 
when artspace and debt taken out, - then only after weeks, when you delayed any detailed discussion of 
money wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally 
changed our agreement.. 5m would be reserved for the future ? . and out of the remaining 15m,? i 
would receive only a third. ( note : I'm confident that both the debt, and the art space investment will also 
lead to a write- off of another 30 m. plus ) In my dining room ,you were surprised when I said that i 
require most people to pay their advisory fee up front so that I am assured that I will be properly 
compensated for my work when strategies are implemented. you may recall that you appeared offended 
and said "" are you suggesting that i would go back on my word"" I said no, of course not ! you are my 
closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it 
actually comes time for them to pay. 
I include below the email i sent to you on April 15, the day i was examining your returns It laid out 
my understanding of the compensation agreed for a transaction of the magnitude to the penny of the one 
just completed.ie 600m When it appeared that the transcation would and could go foward I was the 
first to point out that our agreement would cost you too much money, therefore 
more details 
From day one I proposed to discount our agreement to a 50 - 60 million range. An extremely fair price 
for all the transactions just completed. including Phaidon. - I was never told that this was out of 
range. in fact, alternative methods of payment . ie my plane, or an -in-kind payment were discussed ( ie 
including keeping the 30m portion of the fee outstanding till March ) ,I provided , only because you 
specifically requested a detailed step by step execution plan and reviewed all documents that i was given 
access to. ( Phaidon was never forthcoming ) in order to make my many corrections . ( as i said more 
needed on phaidon ) . I was then told that Alms involvement warranted a discount. Even in the best 
of light , though it is beyond question that not one time in the three years of his retainer has he ever 
proposed a unique idea. (including any way to deal with the use issue on debras death ,or even the most 
basic review of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to 
the plan and stretch reality beyond the pale and say it was 50 %. though no one could posit such a large 
amount unless they were wearing a clown suit. , the payment and our formula of 37 percent associated 
with the deal was known . It had both sent in writing and spoken about on the phone numerous times, 
a detailed execution plan was provided. then and only then, after the entire transaction was laid out for 
the group to follow You told me that after a number of conversations with brad karp that a total of only 
20m would be paid, (and even that was more than you originally contemplated ) for both transactions . 
Leon I feel It was remarkably unfair. Did brad even knew of our prior agreements.? ?, I would ask that 
HOUSE OVERSIGHT 023231 
you I and Brad karp sit together if you think it would be helpful. I would like to send him this email, with 
your consent of course. If the transactions were never consummated , i would not be owed a dime, 
however , the expected fee was known up front. , the detailed step by step plan was followed and 
overseen by me, the amount that I had requested before the transaction had even begun, had already 
been heavily discounted, out of friendship, . I believe the decision re only paying 20 m has frankly, left 
me felling quite uneasy. and colors the view about the Athene or Rothschild transaction. 
Date: Fri, Jan 29, 2016 at 2:39 PM 
Subject: 
To: Melanie Spinella <____________________________ 
you've agreed that 
Your office is a multi billion dollar responsibility, your children will inherit it , in order to oversee their 
financial lives- I feel for you, truly ,but the facts are the facts, your ceo ( Brad) has provided one bad 
document after another for over a year , no getting away from it,, bad cash flows no new IT, each 
time with"" its gettting better"" no in fact -! its not. - the excuse, that Brad is not the numbers guy, is 
ludicrous. of course he didnt actually prepare the statements. - no ceo would ,- but over and over he 
presented them to you and me, after , holding them back for his personal review multiple times and after 
multiple drafts. weeks of his editing, the consistant but ""inexplicable ""missing the obvious serious 
errors . ( gaming ) inaccuracies, ( cashflow ) and mistakes (tax returns). why, ?! the simple answer is 
that at best, he is a c minus, (note. I, like you ,also give points for effort. )- ! an elegant art partnership 
gone fallow. ??!!I and its core reason to exist. not used ? no does for plane?, still ! why? no does for 
decantings why? the does for deal 1 received last night, "" no does at all for deal 2, the biggest "" . why 
wasn't Tom brought in, after 4 times of my incessant reminders i spoke to him, he knows little of either 
transaction except for over view, never saw pahidon anything except projections until yesterday ? ?and 
this after your clear admonition etc. re the trading accounts no activity, at all, 
Barry Cohen is great. more like him please . 
you asked, - I did my best trying to train your brad chosen people in the face of my telling you that they 
were never going to be more than c-minuses, thousands of emails thousands ? Brad at its head . you 
can't as a ceo, have an accountant give you multiple pages with the most important numbers missing 
altogether and not notice, you and I saw the errrors right away ,as did my very junior bookeeper after 
only a cursory glance. He told me he didnt know the details of his note?! , my guess is that he wanted to 
pay less. no more than that, any other story is blather. its silly. Talk to richard yourself 
re your estate. Yes another Brad issue - your will, needs revision, the tenants in common structure I 
assume Alan has carefully walked you through. it is way overdue, needed and exciting. I won't list the 
more serious issues in an email but we can speak over the weekend. 
How can I help? We agreed at the time when you hired Castrucci , that when you fired him, I would 
bear no responsibility because it was clear that he shouldnt be hired. brad and you both said ,"" its on us"", 
but... the equivalent of your art consultant pointing to a picasso and calling it a renoir. then a brancusi 
and calling it a michaelangelo. those were the types of erros that i saw immediatily, you said give them 
more time. at least they saw it was a painting and not a photo? 
being weaned of our biz /pay realtionship has been our mutual goal. However since novemebr, you 
chose to do so by ignoring' our agreement re, phaidon,and your oft stated commitment to me of large 
payments for large value, ( 37 percent was our number ). chose to pay me a number picked by what 
appears to be only by whim,- have yet to justify it except for telling me that you and Brad Karp talked.. 
HOUSE OVERSIGHT 023232 
What should we do? the next two years in biz world appears to both you and I , very fragile. Im 
happy to have brad sit in ? 
Date: Thu, Oct 15, 2015 at 10:38 PM 
Subject: 
To: Melanie Spinella < ___________________ 
Office, - ada goes. , hire heather a paralegal. Joslin goes or is closely managed by new cfo with tax 
experience. castrucii goes asap.as he merely adds to mess.( too many people, ex 7 people or more to 
pay a bill ) eva goes. outsource as much as possible. . bookkeeping systems built from scratch, 
airplane restructure, boat. same, new grats. phaidon sale, decide on artspace survivability, regan, . do 
the kids really want these?, children accounting ie bens house.etc. re do estate for new facts. redo 
loans, trading accounts activity, . gaming -foreign- disclosures. . BRH TRA re thinks. household and 
construction architects. . redone. art partnership , choice of paintings. . re do structure of consultants. 
tax re family office. . decide if investments are a realistic option in the next three years.. insurance. 
operations. airplane , etc. . art foundation , private. max charity contributions, financial reports. still 
waiting. ? on line banking, . tax planning, family office deductions ( profit center ) . airplane certificate, 
redone jet aviation redo. . paper gigi ( E )trust to avoid gift tax. . 
today is Oct 15 
With your full knowledge I paid out 8 mil to my staff before june, . so i guess I can safely assume that 
after consideration of all the things I did for the entire past year separate and apart from your unique free 
""after care"" concept. , what you thought was ultimately fair was the contribution of 5 million to a 
foundation and a total of 2 million dollars to me. 
Date: Thu, Feb 4, 2016 at 10:01 PM 
Subject: 
To: Melanie Spinella < 
josh's arrival cut short our___________________needed conversation. I understand we have a difference of opinion, friends 
sometimes disagree, I shook on the 20 so you have no further obligation, none, I am willing to have 
brad karp hear both sides. as my view , you and i had an agreement. on phaidon /publishing, and then a 
long standing what you say is 28, which is correct AFTer TAx. , 37 pre. . that was our numbers. I was 
clear what i thought the transactions were worth. far less than full. alan etc. , had you said i will pay 
you only 20. i would have said ill pass. you never told me that 50-60 the number that i put on the 
table at the very beginning was not right, you asked that i lay out my plan step by step. and what i believe 
would have been the fair thing to do is say to me, I will pay you only 20 if you do as i ask, not tell me 
for the first time only after i laid it all out. had it not been you, i would have required payment in escrow. 
BEFORE fyi the reason I sent you an invoice so that if you decided that you wanted me to continue 
this year . it would be applied to last years income. I think today was a beginiing for you. I am glad I 
will meet wendy the 23, rd, . separate and aprt from being your sounding board for personal issues, I do 
not see my involvment moving forward. 
Date: Wed, Feb 10, 2016 at 12:56 AM 
Subject: Fwd: 
To: Melanie Spinella < 
this was sent four months ago, nothing has changed 
sent oct 15. before big transaction. 
Office, - ada goes. , hire heather a paralegal. Joslin goes or is closely managed by new cfo with tax 
experience. castrucii goes asap.as he merely adds to mess.( too many people, ex 7 people or more to 
HOUSE OVERSIGHT 023233 
pay a bill ) eva goes. outsource as much as possible. . bookkeeping systems built from scratch, 
airplane restructure, boat. same, new grats. phaidon sale , decide on artspace survivability, regan, . do 
the kids really want these?, children accounting ie bens house.etc. re do estate for new facts. redo 
loans, trading accounts activity, . gaming -foreign- disclosures. . BRH TRA re thinks. household and 
construction architects. . redone. art partnership , choice of paintings. . re do structure of consultants. 
tax re family office. . decide if investments are a realistic option in the next three years.. insurance. 
operations. airplane , etc. . art foundation , private. max charity contributions fmancial reports. still 
waiting. ? on line banking, . tax planning, family office deductions ( profit center ) . airplane certificate, 
redone jet aviation redo. . paper gigi ( E )trust to avoid gift tax. . 
Date: Thu, Mar 3, 2016 at 3:31 AM 
Subject: ask alan why he hasnt explained this to you since novmebr 
To: Melanie Spinella _________________________________ 
Tenancy in common is a type of shared ownership of property, where each owner owns a share of the 
property. Unlike in a joint tenancy, these shares can be of unequal size, and can be freely transfered to 
other owners both during life and via a will. Even if owners own unequal shares, however, all owners have 
the right to occupy and use all of the property. 
Date: Sun, Mar 13, 2016 at 12:55 PM 
Subject: 
To: Melanie Spinella . 
The fire drill documents received should be the final nail in the coffin of Alan and Ada, . It is 
inexcusable„ ludricrous and in brads words ""insane ""or yours, "" unexplainable"" that the two people that 
you refer to as your estate attnys , NEVER EVER took the time to actually read the documents that have 
the biggest efffect on your family and estate upon death or disablity, its impossible.!!! IMPOSSIBLE . 
after telling me that they were confident that everything had been read, and after years, of you telling me 
that Im not an attorney, it is clear that my telling you that you have c quality people was over generous„ 
I received a first draft of the summary of documents. you should read them for yourself. . executive 
committee issues. , unclear tax. contradictory provisions,your reps having to rely possibly on a fall back 
to delaware law to protect your interests, even suggesting that even if they would like to fall back, in 
some instances - no case law. other crazy- provisions that are personal to you, instead of you and your 
successor ? two pages of"" open to interpretation"" .or aha, maybe something is wrong! as ie, your 
rep, after death has no right for information on BRH? ! if you and another founder are dead , the exec 
commitee has no decision authority, if josh and mark want to fuck your heirs, its easy, black family 
partner docs dont deal with successionl YOU deserve better. fyi, after a month of brad ada and alan 
,on the project, still not willing to share with me a final, they are all embarassed. and full of excuses. 
It will take wendy and a new team 6 to 9 months to put your house in order. , new cash flows, new 
accounting system, airplane rethought„ you new hires can find deals , they can familiarize themselves 
with your current investments , but should not be doing the accounting for them, . 
your will is still not amended, ?! the tenants in common not even explained to you. if something happens 
to you and debra, no real direction for the foundation. . etc 
Date: Mon, Mar 21, 2016 at 4:17 AM 
Subject: 
To: Melanie Spinella . 
HOUSE OVERSIGHT 023234 
glad to see you are personally on the mend - as well as the fence. -- As you know i dread money 
discussions with you-- however -we should address the issue of what you would like to do moving 
forward. re- do family office, accounting trusts, estate and apollo agreements . Along with your"" 
payment"" last year we agreed . no further obligations on each side. yes, i continued to moan. I realize 
that though I ye done quite a lot this year already , it is not your responsibility. . As you often like to 
remind me- you've paid a great deal of money to date. that being said - If you want my involvement 
moving foward, I suggest you pay my regular 1 fee of 40 m. 20 now. 20 on completion or as per the 
invoice issues at the end of last year pay 30 all at once. - 
To help out . im keenly aware of your current cash position. so I will consider an in-kind payment - 
real estate ( Miami )„art , financing of my new plane (allows you to spread over years or of course the 
preferred cash. Get rid of Castrucci,it is over a year since the same story of findign the right guy at the 
top. you entire accounting needs to be re done. , office downsized, reporting re done. meetings to 
recitify, categlorize , the various docs re appollo, rowen, suydam, alan etc. Brad can direct investment 
guys, ( hopefully) my people will be in your office for a few months . reorganizing IF you decide not to 
pay I fully understand, as I m sure you will re my no longer spending any serious time on these things. 
Of course re any non financial issues, I am always there for you and will continue to be the best friend I 
can be 
Steve jobs said that everyday he woke up, and asked himself, if he knew he was going to die tomorow, 
would he do the same thing that he had planned for the day- he wanted to check that he was doing things 
that he really wanted to. after three days of getting back an answer of no, he would change what he was 
going to do. . he also did not believe in LONG term plans. I dont think either one of us will figure out 
what we want to do long term so my thinking is that we should try to have fun everyday, and welcome 
serendipity. 
I think another trust and estate lawyer should be brought in to deal with the issues of how not to allow 
your family to get screwed by your partners on death. Alan, for years told me that paul weiss had drawn 
the docs so no issue but when recently pushed by my new fire drill he asked akin to draft .?! PLease 
ask brad about why he keeps talking about flow. I dont know what he means, its so silly. . this is only 
about money control and protection. 
I am leaving monday night now. free to speak in the afternoon 
Date: Thu, Apr 28, 2016 at 1:55 PM 
Subject: 
To: Melanie Spinella <__________________________ 
Lets start. I am aware that you are currently angry at the world. . me, karp wechsler. even yourself, 
all willing absorbers of the current high heat. (though you ,calling me ,Debra, did take away some of the 
sting ) I am sorry to see you this way. 
emblematic; I was asked to opine on whether to hire castrucci. an hour after I gave a preliminary yes. 
. I called you then texted you that i had thought more about it and changed my mind. The next day brad 
called and asked for my vote. I told him ,in no uncertain terms it is a no , I categorically vote no. I 
called you . you came to see me. I said it was a bad idea. you said you were going to do it anyway , I 
said and followed up in writing IT IS A MISTAKE. and added Please don't come back to me with 
anything suggesting otherwise , you and I should be clear I think it is wrong . A very strong NO. you of 
course can hire whomever you like. 
HOUSE OVERSIGHT 023235 
early on I told you I thought Tom remarkably careless . Eilleen goofy and your art lawyer not well 
informed to say the least. you told me Tom was a senior partner. Eileen had headed the trading desk, and 
Ralph Lerner had to know what he was doing as he wrote the book. . I said I thought you deserved 
better ,should get better people and no , I am not an HR person. yesterday you told me that the reason 
you have hired whomver you could find was to avoid being dependent on me. a decision by far, not the 
best place to try to save money ) 
Joslin- who you say I hired. I neither found nor hired. With a two person given choice I approved joslin 
over some woman that eileen preferred. against my repeated advice you and eileen decided the pay range 
at under 300k. I told you at that time that I would personally pay the difference for a higher quality 
person, that was years ago. I have sent over a hundred emails to you clearly saying he needs to be 
closely managed by better professionals. initially , that referred to Eillen and Ada.and after, brad. john 
etc. THere are many emails each and every month from me, telling you , he is slipping failing cracking 
fragile. . crazy, nuts, heading towards incompetence. Unless YOU- TAKE ACTION! when I pressured 
him for accurate numbers , you told him, to tell me, that he works for you and NOT for me. . When I 
continued to press for accuracy from your office , you told me that they were now all afraid of me and i 
should let brad communicate any requests, ( you now tell me "" we know what Brad is""?). When I told you 
you office needs to be reviewed and changed you told me i was being destructive rather than 
constructive, when i ultimately confronted joslin, in an attempt to protect you, told him that his numbers 
were wildly inaccurate , you told me that i had caused his ultimate resignation and now have an 
affirmative obligation to fill in the resultant gap. 
I did give you a bad number, and apologized as soon as i realized it. an error that was an embarrassment 
for me, the fact that that the accurate number is still way below what you agreed to pay, has fallen by 
the wayside.( the preposterous argument that the end of year transaction was Alans idea , which you now 
know was not true and that me not receiving Phaidon documents was unexplainable, was your justification 
though, for non - full payment ) 
Hopefully You will recall that when you initially asked for my help. I declined repeatedly with the 
admonition that that having a financial arrangement is fraught with danger and could complitcate our 
friendship (as you will be unhappy paying what you will view as a large sum. while choosing to ignore 
the financial benefits, ). In Bedford , I repeated my concern. THe current circumstance is distressing to 
me, I have done my utmost to keep you safe. and will continue to do so. reckless choices in 
accounting or otherwise does not bode well. at each turn I have put your interests first , including in some 
instances attempting to fight your choices. 
your current circumstance needs nuanced attention. as you know, there are a few areas with very serious 
consequences. whether it be , having Ada, form grats without review, brad doing phaidon without 
review, payments make without review.merely in order to be weaned, is one more high risk choice. 
review of outside accounting firms , CANNOT be done by brad. to have your accounting dept sit in on 
Alans trust accounting lecture. in order to learn the filed is reminiscent of elieen reading the tax regs. ( 
she also was going to take a course) 
I am here in New York today. should you like to resume 
Date: Mon, May 2, 2016 at 12:51 AM 
Subject: Fwd: Valuation Discount 
To: Melanie Spinella 1________________________ 
> 
HOUSE OVERSIGHT 023236 
Leon please read the attached proposed response to the IRS , see if you can understand it !!!. lye asked 
for a re-do. and given prelimiary directions to Alan to have it edited over the weekend 
. If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the 
outrageous incompetence in your family office.. Alans words "" but I was told that.., but I was told by 
the office (sic) that ... , BUT i was told by joslin,. , but I was told by. "" why is leon blaming me for .."" . 
I ye have always given you my best advice, If you reflect on your financial life, you have been kept safe, 
had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your 
office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional 
reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring 
the benefit of between 1.5 and 2b to the better. ) . and no explosions. You have email after email 
,where i remind you that I am not your bookkeeper or accountant ( in brads corporate speak his"" finance 
dept ??!!) that it should be redone .I have reviewed a multitude of the silly reports given to you and 
have pointed out the continued numerous inaccuracies. your question"" so what if the numbers are off, 
so what if the categories are off. whats the big deal??. I suggest you de risk you fmances and make the 
tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are, Im 
afraid, certain to get an unhappy answer.. tom will be back from vacation, this week. 
----------Forwarded message----------  
From: Halperin, Alan S__________________________ 
Date: Thu, Apr 28, 2016 at 5:16 PM 
Subject: Valuation Discount 
To: ""jeffrey E."" leevacation@gmail.com> 
I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the 
low end. Let's discuss the response and next steps. Thanks Alan 
Date: Tue, May 10, 2016 at 12:38 AM 
Subject: 
To: Thomas Turrin < 
did you get the agent!______________________ 
Date: Wed, May 11, 2016 at 1:50 PM 
Subject: 
To: Brad Wechsler Melanie Spinella <____________________________ 
grats 3,4, 5, 6, also need accounting documents and backup. year 2014. other info request to follow 
Date: Wed, May 11, 2016 at 2:19 PM 
Subject: Re: 
To: ""jfacam(&-i,gmail.com"" <jeevacation@gmail.com>, 
A couple of questions: 
1. Jeffrey-you saw the format in which we organized the back-up for year one of grat 1 
(quite thick/alot of back-up). 
Does that format work (for you and internal use) or do you want it simplified/modified. 
Let's discuss. 
2. Since this will take the focus and effort of a lot of people (just to pull and organize 
the various records...both legal and accting, I'd like to tell the staff that we are 
answering an ""information request"" from the irs on the grats. It will generally be helpful 
HOUSE OVERSIGHT 023237 
for them to know why the work is impt. 
You and leon ok with this? 
Will call you to discuss. 
Date: Thu, May 12, 2016 at 12:17 PM 
Subject: tight schedule lets try a set time to speak 
To: Melanie Spinella '___________________________________> 
Leon, you hired me to produce a work of art. it was not inexpensive, the value far exceeds any other 
piece in your collection.- by FAR. It took me 30 years to be able to craft such a work. I understand 
your desire to modifiy my work, in doing so you have brad telling me, just a bit more red., here let me 
show you, you yourself pick up a brush a add some strokes. you have joslin spray water on it to 
maintain it. I vigorously complain that joslin in ruining my work. . you describe me as zeus, i describe it 
as artist and a reaction to his work being ruined. however Im aware that you own the work and you 
have the right to paint over it. tear it up , put it in the closet in the basement . its yours. 
I was told that Toms office is sending someone in ,or some people in, to review ""some things."" brad told 
me ,the partnership accounting. I know absolutely nothing more than that. though bringing in his team was 
my idea . Having them review things without even asking for my input, or let alone my direction ,is 
ridiculous. but.. I guess you wanted to save money. ? 
The audit has brought to the fore the lack of your office quality that i have been violently squawking 
about. ie. children playing with works of art. . It is inconceivable to me that John castrucci is still there 
, joslin part time, but relied on. joe error prone and brad a corporate bandleader talking about the 
office's finance team, accounting dept, and directing wendy to do things that are clearly not in your 
interest. ( saving money again ?) its nuts!! . a still non-existent IT dept. impossible, it was the first 
thing on my list of things that were needed to be done. Still no trading accounts to speak of, though its 
prophylactic quality has been discussed over and over during the past three years . computers do not read 
Page Six. the women at the IRS do. ! you said your motivation in keeping this group of part timers 
was a consequence of the high cost of my artwork. . the unfortunate result was easily predictable. - 
now 
If you want my and my atelier to continue, I will oversee the audits. take charge of the TRA BRH 
assignments and review 2012 amendment options!!( note :your redo of the estate fire drill has not 
progressed very far ). Lots of paper needs to be collected and reviewed, At MY direction. the outside 
team will be brought in at my expense working for me and you. coming in for interviews and reviews, . 
sucession, technology, tax and compliance, investment reporting „ computerized timelines for filings etc. 
. household classifcations and reporting with a system of best practices. 
My goal is clear - to end, not extend, our financial interactions, you will have a machine that works, it 
will not be complexto oversee , to create it, is some thing else . Unfortunatley for us both, the price for 
my works has not changed since day one. 40m per year, I m willing to discount it to 35 as I did give 
you a bad number when asked and should pay an embarassment fine. Im also aware, as you made 
perfectly clear. that you have already paid what you consider a great deal of money, for my work, but 
again its value exceeds anything else by far in your collection at a cost less than agreed upon. . please 
also remember that you and i agreed no more demands on my time after the last payment for the big 
transaction. 
OR, you can decide that brad , tom, and whomever else you choose can screw with my work and they 
can oversee your audits. they are both aware and sensitive to the issue at hand. alan could be brought 
in but i would be extra careful having paul weiss given access to entire story. 
-On an unrelated note- you recently seemed shy to discuss certain things. , please be assured I make 
no judgement on any of your activities , whether or not i agree with them. not my role I am always on 
your side on the table. I hope your personal life quiets. you 'ye had a rough 15 months. 
HOUSE OVERSIGHT 023238 
11:21 PM (13 hours ago) 
to me 
Jeffrey, 
I created applications one week ago at NDCAS ( doctor of naturopathic medicine centralized application 
service ) and VMCAS ( veterinary medical college application service ) ,working on my application 
material , requesting evaluations letters and etc. 
On Tuesday I am going to the job interview, working on my resume today. 
P.s.- I hope I will get finally the results from Chinese proficiency exam today /tomorrow. 
On Sat, 7 Apr 2018 at 07:54, jeffrey E. leevacation@gmail.com> wrote: 
no concrete progress. for a year. sorry, it cannot go on this way 
Date: Wed, Jun 1, 2016 at 5:41 PM 
Subject: 
To: Melanie Spinella < 
As i said yesterday, pointing out places where i think my friend might be taking unnecesarry risks has 
become tedious and trying. Structures that have been set up 2 years ago. were done so to give you 
protection and flexibility, NOT FOR ME< for YOU they required hiring stafff that could manage 
these complex entities. you told me over the past two years that as i set them up i should be responsible 
for their operation. That was never the deal , never. I have heard after -care etc for quite a while. in 
dec when you unilatierally decided to pay me much less than our agreed amount , we agreed NO MORE 
money discussions NO MORE after care. The silliness has reached its pinnacle when you suggest i am 
responsible for the lack of sophisticaiton and thoughtfulness of the 1031 transactions that NO one even 
told me about. asked my advice or gave me any notice at all before the fact. same as the structure for the 
CAlif house. I would remind you , though Heather is great, it was not she that modified the gagosian 
contract to give you the protection that resulted in your having no liablity, though you tell me she has 
done these things many times. 
3. Remind me to talk to you about MR 
Date: Tue, Nov 15, 2016 at 6:13 AM 
Subject: Fwd: 
To: Melanie Spinella < 
Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for 
you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before 
him. what would you like me to tell Barry? 
There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work 
that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it 
again if you like ) . Brad wechsler was never up to the task. sorry, I realize I have been saying the very 
same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning 
there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was 
chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes i personally 
augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, 
He complained for over a year, re his direction by eileen and ada, and then brad. His breakdown was 
not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with 
john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you 
told him that he works for you and not for me and that brad needs to pays him . 
HOUSE OVERSIGHT 023239 
. Asking me who to hire , estate attny tax people etc. : 
I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up 
questions no interactions , not even one single question asked of me re her work. ( that was Eileen ) 
but somehow carlyns fuck up was my doing. . when i told you that i thought Eileen wasn't up to the 
task, you bellowed that i was talking out of both sides of my mouth. . You told me this year, that by 
trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his 
work. it then turns out that he didn't consider himself fired at all he just received less money. and 
continued to make a really dangerous mess.. Joshn castrucci, in your eyes, was also my doing , though 
email after email said, I take no responsibility for him, and iYOU SHOULD NOT HIRE HIM .!!! „ your 
response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan 
you told me he was gone. however he too is still there, and a waste of money and space. 
My time is complicated by Donald's potentially eviscerating any reason for anyone to use the 
foreign funds repatriation plan that i had put together. . however as you are aware I have some decisions 
to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit 
much time and make any future plans to guide you in the redoing of your procrastination produced 
mess. 
That being said, the tasks at hand are the following. 
You have a bomb of colored string that your retarded children have formed , It has to be very carefully 
unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It 
would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I 
am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to find and learn 
ACCURATE . org charts. books , balance sheets. trust valuations, are all a part. Barry will need 2 
months to just get his arm around what is there, this is before any needed modifications., 
a way overdue re- fresh of your estate plan. . clats , trust. partnerships. grats. llcs. bank accounts, 
filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how 
they fit into new plan. . """" planning art partnership engagement .. , airplane re-do. , buying 
another. . ? boat sale , Miami sale. . TRADING ACCOUNTS. . three years over due. . an 
accounting system. fire john .. joslin stays for a year. or so. so does tom and . except for heather 
everyone should be replaced with new. . Sell Artspace and shut down regan arts. . rationalize, cash 
flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take 
months to review now. . you CANNOT file unreviewed audited documents. . CANNOT!!! this will 
be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit. 
or contain it. . . you will need 3 new hires .a s there is no one in your office that is truly an A player. I 
have great hope in Barry as you know. He will need to be trained. note 
; One year is my guesstimate After 4 years of telling you , that you could do better than Halperin,: im 
glad that you now are willing to follow barrys advice . I take no offense, in fact I take comfort in the 
fact that after only one conversation with Barry you are now convinced to make that change . will take a 
year or more. 
I expect as a friend you will understand that 
I will no longer, not even for one day, work on your affairs . without the compensation that is long 
overdue. . your unilateral idea of after care , not imposed on any other professional, except me, not paul 
weiss ,( caesars alone, a direct screw up on their part ) tom, akin„ no one. needs to end. . you and I 
had previously agreed no more of that, and this after you decided not to pay me per our agreement. to be 
fair I can not say im surprised as you have email after email , stating that , if you save a great deal of 
money, you wont want to pay, so limit it to 40m per year. - water under the bridge 
If I can find the time to work, on your project , which is not by any means certain as I have said, I 
HOUSE OVERSIGHT 023240 
hope you understand that it now will have to be under my standard terms and conditions. and well 
documented so as to avoid any more of the he said she said. I never want to have any more 
uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as 
follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing 
an agreement. 5 million every 2 months thereafter for 6 months ie march may june . this can begin if i 
am able in January. I will immediately stop work, if the payment is not received. If you want me to 
work this year until Jan 15 , it will be 10 million, paid upfront. after one year you will be left with a 
new estate plan a running office. staffed with professionals overseen by Barry. ( hallelujah ) a tax plan . 
and an investment that returns more than any painting you could possible own. . no agreement - no 
work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as 
to what I should say. 
11:45 PM (13 hours ago) 
to me 
im in paris now 
Date: Sun, May 1, 2016 at 6:51 PM 
Subject: Fwd: Valuation Discount  
To: Melanie Spinella <___________________________ 
Leon please read the attached proposed response to the IRS , see if you can understand it !!!. Ive asked 
for a re-do. and given prelimiary directions to Alan to have it edited over the weekend 
. If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the 
outrageous incompetence in your family office.. Alans words "" but I was told that.., but I was told by 
the office (sic) that ... , BUT i was told by joslin,. , but I was told by. "" why is leon blaming me for .."" . 
I ye have always given you my best advice, If you reflect on your financial life, you have been kept safe, 
had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your 
office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional 
reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring 
the benefit of between 1.5 and 2b to the better. ) . and no explosions. You have email after email 
,where i remind you that I am not your bookkeeper or accountant ( in brads corporate speak his"" finance 
dept ??!!) that it should be redone .1 have reviewed a multitude of the silly reports given to you and 
have pointed out the continued numerous inaccuracies. your question"" so what if the numbers are off, 
so what if the categories are off. whats the big deal??. I suggest you de risk you finances and make the 
tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are, Im 
afraid, certain to get an unhappy answer.. tom will be back from vacation, this week. 
Date: Thu, Apr 28, 2016 at 5:16 PM 
Subject: Valuation Discount 
To: ""jeffrey E."" leevacation@gmail.corn> 
I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the 
low end. Let's discuss the response and next steps. Thanks. Alan 
Alan S. Halperin 1Partner 
Paul, Weiss, Rifkind, Wharton & Garrison LLP 
1285 Avenue of the Americas New York, NY 10019-6064 
HOUSE OVERSIGHT 023241 
I 
1 www.paulweiss.com 
(10 hours ago) 
to me 
Jeffrey 
Pete informs the GIV is completed,. 
Thx, 
Larry 
Date: Tue, Nov 15, 2016 at 6:13 AM 
Subject: Fwd: 
To: Melanie Spine11a1MIRM=1 
Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for 
you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before 
him. what would you like me to tell Barry? 
There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work 
that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it 
again if you like ) . Brad wechsler was never up to the task. sorry, I realize I have been saying the very 
same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning 
there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was 
chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes i personally 
augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, 
He complained for over a year , re his direction by eileen and ada, and then brad. His breakdown was 
not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with 
john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you 
told him that he works for you and not for me and that brad needs to pays him . 
. Asking me who to hire , estate attny tax people etc.: 
I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up 
questions no interactions , not even one single question asked of me re her work. ( that was Eileen ) 
but somehow carlyns fuck up was my doing. . when i told you that i thought Eileen wasn't up to the 
task, you bellowed that i was talking out of both sides of my mouth. . You told me this year, that by 
trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his 
work. it then turns out that he didn't consider himself fired at all he just received less money. and 
continued to make a really dangerous mess.. Joshn castrucci, in your eyes, was also my doing , though 
email after email said, I take no responsibility for him, and iYOU SHOULD NOT HIRE HIM .!!! „ your 
response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan 
you told me he was gone. however he too is still there, and a waste of money and space. 
My time is complicated by Donald's potentially eviscerating any reason for anyone to use the 
foreign funds repatriation plan that i had put together. . however as you are aware I have some decisions 
to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit 
much time and make any future plans to guide you in the redoing of your procrastination produced 
HOUSE OVERSIGHT 023242 
mess. 
That being said, the tasks at hand are the following. 
You have a bomb of colored string that your retarded children have formed , It has to be very carefully 
unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It 
would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I 
am concerned re brad taking barrys place re )(XXX. In the beginning Barry will need to find and learn 
ACCURATE . org charts. books , balance sheets. trust valuations, are all a part. Barry will need 2 
months to just get his arm around what is there , this is before any needed modifications., 
a way overdue re- fresh of your estate plan . . clats , trust. partnerships. grats. llcs. bank accounts, 
filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how 
they fit into new plan. . """" planning. art partnership engagement.. , airplane re-do. , buying 
another. . ? boat sale , Miami sale. . TRADING ACCOUNTS. . three years over due. . an 
accounting system. fire john joslin stays for a year. or so. so does tom and. except for heather 
everyone should be replaced with new. . Sell Artspace and shut down regan arts. . rationalize, cash 
flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take 
months to review now. . you CANNOT file unreviewed audited documents. . CANNOT!!! this will 
be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit . 
or contain it. . . you will need 3 new hires .a s there is no one in your office that is truly an A player. I 
have great hope in Barry as you know. He will need to be trained. note 
One year is my guesstimate After 4 years of telling you , that you could do better than Halperin, : im 
glad that you now are willing to follow barrys advice . I take no offense, in fact I take comfort in the 
fact that after only one conversation with Barry you are now convinced to make that change . will take a 
year or more. 
I expect as a friend you will understand that 
I will no longer, not even for one day, work on your affairs . without the compensation that is long 
overdue. . your unilateral idea of after care , not imposed on any other professional, except me, not paul 
weiss ,( caesars alone, a direct screw up on their part ) tom, akin„ no one. needs to end. . you and I 
had previously agreed no more of that, and this after you decided not to pay me per our agreement. to be 
fair I can not say im surprised as you have email after email , stating that , if you save a great deal of 
money, you wont want to pay, so limit it to 40m per year. - water under the bridge 
If I can find the time to work, on your project , which is not by any means certain as I have said, I 
hope you understand that it now will have to be under my standard terms and conditions. and well 
documented so as to avoid any more of the he said she said. I never want to have any more 
uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as 
follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing 
an agreement. 5 million every 2 months thereafter for 6 months ie march may june . this can begin if i 
am able in January. I will immediately stop work, if the payment is not received. If you want me to 
work this year until Jan 15 , it will be 10 million, paid upfront. after one year you will be left with a 
new estate plan a running office. staffed with professionals overseen by Barry. ( hallelujah ) a tax plan . 
and an investment that returns more than any painting you could possible own. . no agreement - no 
work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as 
to what I should say. 
10n Apr 6, 2018, at 11:15 AM, Jeskewitz, Jeannine > wrote: 
Fin in touch with Lesley and we will work together on these reservations. 
All my best, 
HOUSE OVERSIGHT 023243 
Jeannine 
On Tue, Apr 3, 2018 at 5:43 PM, Lisa Emelia Svensson <I  > wrote: 
Air France has a strejk ... so French 
Trying to rebook later in the week Will let you know 
3 apr. 2018 kl. 16:29 skrev jeffrey E. <jeevacation@gmail.com>: 
im in paris now 
Date: Tue, Nov 15, 2016 at 6:13 AM 
Subject: Fwd: 
To: Melanie Spinella <_________________ 
Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for 
you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before 
him. what would you like me to tell Barry? 
There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work 
that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it 
again if you like ) . Brad wechsler was never up to the task . sorry, I realize I have been saying the very 
same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning 
there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was 
chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes i personally 
augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, 
He complained for over a year, re his direction by eileen and ada, and then brad. His breakdown was 
not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with 
john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you 
told him that he works for you and not for me and that brad needs to pays him . 
. Asking me who to hire , estate attny tax people etc. : 
I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up 
questions no interactions , not even one single question asked of me re her work. ( that was Eileen ) 
but somehow carlyns fuck up was my doing. . when i told you that i thought Eileen wasn't up to the 
task, you bellowed that i was talking out of both sides of my mouth. . You told me this year , that by 
trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his 
work. it then turns out that he didn't consider himself fired at all he just received less money. and 
continued to make a really dangerous mess. . Joshn castrucci, in your eyes, was also my doing , though 
email after email said , I take no responsibility for him,and iYOU SHOULD NOT HIRE HIM .!!! „ your 
response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan 
you told me he was gone. however he too is still there, and a waste of money and space. 
My time is complicated by Donald's potentially eviscerating any reason for anyone to use the 
foreign funds repatriation plan that i had put together. . however as you are aware I have some decisions 
to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit 
much time and make any future plans to guide you in the redoing of your procrastination produced 
mess. 
That being said, the tasks at hand are the following. 
You have a bomb of colored string that your retarded children have formed , It has to be very carefully 
HOUSE OVERSIGHT 023244 
unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It 
would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I 
am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to fmd and learn 
ACCURATE . org charts. books , balance sheets. trust valuations, are all a part. Barry will need 2 
months to just get his arm around what is there, this is before any needed modifications., 
a way overdue re- fresh of your estate plan . . clats , trust. partnerships. grats. llcs, bank accounts, 
filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how 
they fit into new plan. . """" planning art partnership engagement .. , airplane re-do. , buying 
another. . ? boat sale , Miami sale. . TRADING ACCOUNTS. . three years over due. . an 
accounting system. fire john joslin stays for a year. or so. so does tom and. except for heather 
everyone should be replaced with new. . Sell Artspace and shut down regan arts. . rationalize, cash 
flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take 
months to review now. . you CANNOT file unreviewed audited documents. . CANNOT!!! this will 
be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit. 
or contain it. . . you will need 3 new hires .a s there is no one in your office that is truly an A player. I 
have great hope in Barry as you know. He will need to be trained. note 
; One year is my guesstimate After 4 years of telling you, that you could do better than Halperin, : im 
glad that you now are willing to follow barrys advice . I take no offense, in fact I take comfort in the 
fact that after only one conversation with Barry you are now convinced to make that change . will take a 
year or more. 
I expect as a friend you will understand that 
I will no longer, not even for one day, work on your affairs . without the compensation that is long 
overdue.. your unilateral idea of after care , not imposed on any other professional, except me, not paul 
weiss ,( caesars alone, a direct screw up on their part ) tom, akin„ no one. needs to end. . you and I 
had previously agreed no more of that, and this after you decided not to pay me per our agreement. to be 
fair I can not say im surprised as you have email after email , stating that , if you save a great deal of 
money, you wont want to pay, so limit it to 40m per year. - water under the bridge 
If I can find the time to work, on your project , which is not by any means certain as I have said, I 
hope you understand that it now will have to be under my standard terms and conditions. and well 
documented so as to avoid any more of the he said she said. I never want to have any more 
uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as 
follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing 
an agreement. 5 million every 2 months thereafter for 6 months ie march may june . this can begin if i 
am able in January. I will immediately stop work, if the payment is not received. If you want me to 
work this year until Jan 15 , it will be 10 million, paid upfront. after one year you will be left with a 
new estate plan a running office. staffed with professionals overseen by Barry. ( hallelujah ) a tax plan . 
and an investment that returns more than any painting you could possible own. . no agreement - no 
work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as 
to what I should say. 
Date: Mon, Aug 29, 2016 at 1:41 PM 
Subject: I know you have a lot on your mind.but.. 
To: Melanie Spinella <_________________________ 
sent to you JAN 29th 2016 
you've agreed that 
Your office is a multi billion dollar responsibility, your children will inherit it, in order to oversee their 
financial lives- I feel for you, truly ,but the facts are the facts, your ceo ( Brad) has provided one bad 
HOUSE OVERSIGHT 023245 
document after another for over a year , no getting away from it,, bad cash flows no new IT, each 
time with"" its gettting better"" no in fact -! its not. - the excuse, that Brad is not the numbers guy, is 
ludicrous. of course he didnt actually prepare the statements. - no ceo would ,- but over and over he 
presented them to you and me, after, holding them back for his personal review multiple times and after 
multiple drafts. weeks of his editing, the consistant but ""inexplicable ""missing the obvious serious 
errors . ( gaming ) inaccuracies, ( cashflow ) and mistakes (tax returns). why, ?! the simple answer is 
that at best, he is a c minus, (note. I, like you ,also give points for effort. )- ! an elegant art partnership 
gone fallow. ??!!I and its core reason to exist. not used ? no docs for plane?, still ! why? no docs for 
decantings why? the docs for deal 1 received last night, "" no docs at all for deal 2, the biggest "" . why 
wasn't Tom brought in, after 4 times of my incessant reminders your admonition etc. the trading 
accounts ? 
Barry Cohen is great. more like him please . 
you asked, - I did my best trying to train your brad chosen people in the face of my telling you that they 
were never going to be more than c-minuses, thousands of emails thousands ? Brad at its head . you 
can't as a ceo, have an accountant give you multiple pages with the most important numbers missing 
altogether and not notice, you and I saw the errrors right away ,as did my very junior bookeeper after 
only a cursory glance. He told me he didnt know the details of his note?! , my guess is that he wanted to 
pay less. no more than that, any other story is blather. its silly. Talk to richard yourself. 
re your estate. Yes another Brad issue - your will, needs revision, the tenants in common structure I 
assume Alan has carefully walked you through. it is way overdue, needed and exciting. I won't list the 
more serious issues in an email but we can speak over the weekend. 
How can I help? We agreed at the time when you hired Castrucci , that when you fired him, I would 
bear no responsibility 
Date: Thu, May 12, 2016 at 6:17 AM 
Subject: tight schedule lets try a set time to speak 
To: Melanie Spinella <! _  
Leon, you hired me to produce a work of art. it was not inexpensive, the value far exceeds any other 
piece in your collection.- by FAR. It took me 30 years to be able to craft such a work. I understand 
your desire to modifiy my work, in doing so you have brad telling me, just a bit more red., here let me 
show you, you yourself pick up a brush a add some strokes. you have joslin spray water on it to 
maintain it. I vigorously complain that joslin in ruining my work. . you describe me as zeus, i describe it 
as artist and a reaction to his work being ruined. however Im aware that you own the work and you 
have the right to paint over it. tear it up , put it in the closet in the basement . its yours. 
I was told that Toms office is sending someone in ,or some people in, to review ""some things."" brad told 
me ,the partnership accounting. I know absolutely nothing more than that. though bringing in his team was 
my idea . Having them review things without even asking for my input, or let alone my direction ,is 
ridiculous. but.. I guess you wanted to save money. ? 
The audit has brought to the fore the lack of your office quality that i have been violently squawking 
about. ie. children playing with works of art. . It is inconceivable to me that John castrucci is still there 
, joslin part time, but relied on. joe error prone and brad a corporate bandleader talking about the 
office's finance team, accounting dept, and directing wendy to do things that are clearly not in your 
interest. ( saving money again ?) its nuts!! . a still non-existent IT dept. impossible, it was the first 
thing on my list of things that were needed to be done. Still no trading accounts to speak of, though its 
prophylactic quality has been discussed over and over during the past three years. computers do not read 
Page Six. the women at the IRS do. ! you said your motivation in keeping this group of part timers 
HOUSE OVERSIGHT 023246 
was a consequence of the high cost of my artwork. . the unfortunate result was easily predictable. - 
now 
If you want my and my atelier to continue, I will oversee the audits. take charge of the TRA BRH 
assignments and review 2012 amendment options!!( note :your redo of the estate fire drill has not 
progressed very far ). Lots of paper needs to be collected and reviewed, At MY direction. the outside 
team will be brought in at my expense working for me and you. coming in for interviews and reviews, . 
sucession, technology, tax and compliance, investment reporting „ computerized timelines for filings etc. 
. household classifcations and reporting with a system of best practices. 
My goal is clear - to end, not extend, our financial interactions, you will have a machine that works, it 
will not be complexto oversee , to create it, is some thing else . Unfortunatley for us both, the price for 
my works has not changed since day one. 40m per year, I m willing to discount it to 35 as I did give 
you a bad number when asked and should pay an embarassment fine. Im also aware, as you made 
perfectly clear . that you have already paid what you consider a great deal of money, for my work, but 
again its value exceeds anything else by far in your collection at a cost less than agreed upon. . please 
also remember that you and i agreed no more demands on my time after the last payment for the big 
transaction. 
OR, you can decide that brad, tom, and whomever else you choose can screw with my work and they 
can oversee your audits. they are both aware and sensitive to the issue at hand. alan could be brought 
in but i would be extra careful having paul weiss given access to entire story. 
-On an unrelated note- you recently seemed shy to discuss certain things. , please be assured I make 
no judgement on any of your activities , whether or not i agree with them. not my role I am always on 
your side on the table. I hope your personal life quiets. you 'ye had a rough 15 months. 
3. Remind me to talk to you about MR 
Date: Mon, Sep 19, 2016 at 8:56 PM 
Subject: 
To: Melanie Spinella <________________________________ 
dec 2015 
IT, still desperately needed- reporting flawed cumbersome and inaccurate . all done by hand as one -off 
exercises, - airplane: re structure, (my only suggested priority in june ) is really ,no further ahead, 
,consultants up the kazoo but nothing at all done.( the office was told that i cannot even see the proposals 
received without brads specific authorization ) - brad has no idea even as to what questions to ask. he 
knows little of finance, is run roughshod over by almost everyone in the office. he is a little man, using 
your power, to appear larger . Eileen was self aware enough to know she was over her head , that is a huge 
difference. bad info is rampant ie 3 million in deductions Im told are taken for art space but on closer 
examination it turns out they cannot be used at all. ( ZERO benefit ) though you will be told yes they 
were deducted on the return they said that is the question they get asked ! "" were they deducted "" not 2 
is there a benefit"" !! I asked for the balance sheet and P and L for Regan arts , a basic first step in 
order to check your financials. ""sorry we never got one?"" though 9.8 million invested, no p&l, nothing, 
a construction project run amok , no budget, the coo fired after only 3 months., no clue. I can add that 
artspace financials are also a total mess. 
As your friend and in order totum the page. I will try to be constructive 
The following is a list of things I think would be in your interest to get done asap .but definitely not by 
me. 
I suggest you form new grats. , hire a high level tax partner. use your trading accounts as they remain 
the paramount requirement 16 months after i emailed to you their importance. , I suggest you consider 
having the 49percent of phaidon merged into artspance and have Richard buy artspace. re-do bank 
HOUSE OVERSIGHT 023247 
loans. no need to pay interest at higher rates on boat or plane. . as Richard is now no longer trustee. re-
do will, make suydam executor , with Barry, and john as back up. pay 1 million a year for executor role. 
get rid of Judy Black trust, deal with gifts and their tax returns, . review amounts to kids at fixed ages. put 
more protections in for Alex and Victoria. , distribute some money to kids let them make decisions. , 
decide art division with children in attendance . have fire drill done on estate. fill out estate returns as if 
you and Debra died today, choose advisers - rick bronstein said the only 1040 he ever filled out was his 
own. ( this is brads chosen advisor??!) Halperin has a conflict that should be addressed., Debra should 
enter a tenants in common agreement with kids. you have airplane consultants tax consultants it 
consultants. plane operation consultant. . boat consultants. architects, lighting , art, legal, . foundation, 
deal with TRA, BRH , rationalize investments, cash flow, reporting, gaming disclosures, foreign, gift. . 
prepare tax projections for 15 and 16, . deal with neg basis ( tufts gain, debt financed, art partnership, 
pledges. sell stock, art, deal with phaidon debt. athene,? income, capital, foreign, exit, corporate, 
insurance regs, out and inbound issues, basis, appropriate discount rates. ? terminations. control. , 
qualified dividends, corporate tolls, inversion rules. , grat issues, short swing and other sec disclosures, 
Rothshcild bank, 150 b they have a distribution network with no products , private bank Rockefeller 
Rothschild financial service, deal with UK visa issue sooner rather than later. we can talk about Rowen 
request re Athene , 2 billion in taxes on transaction. ?! 
the facts as i see them 
in June and then again Sept, we both agreed to a 50% of phaidon payout., then after weeks of thinking 
about the issue ( which I fully understand ) . the payout was unilaterally changed. 5m woudl be reserved 
for the future ? . and out of the remaining 15m,? i would receive only 5. ( note : I'm confident that both 
the debt, and the artspace investment will also lead to a write off of another 30 m. plus ) In my dining 
room ,you were surprised when I said that i require most people to pay their advisory fee up front so that 
I am assured that I will be properly compensated for my work when strategies that I devise are 
implemented. you may recall that you appeared offended and said "" are you suggesting that i would go 
back on my word"" I said no , of course not ! you are my closest of friends ,but my experience is that 
when amounts get large, people tend to get unhappy when it actually comes time for them to pay,. 
From day zero a 50 - 60 million price was attached as the fair price of the transaction just completed . 
though this amount was already substantially less thanour agreed and negotiated formula. - I was 
never told that this was out of range. in fact, alternative methods of payment. plane -in-kind etc, were 
discussed ( ie keeping the 30m portion of fee outstanding till March ) ,I provided as requested a 
detailed step by step execution plan and reviewed all documents that i was given access to. ( Phaidon 
was not forthcoming ) in order to make my many corrections. I was then told that Alms involvement 
warranted a discount. Even in the best of light , though it is beyond question that not one-,not -one 
time in three years has he ever proposed a unique idea. (including the new tenant in common idea,) and 
lets say he made a contribution to the plan andeven that it was 50 %. though no one could posit such a 
large amount unless they were wearing a brightly colored clown suit. , the price of doing the deal was 
known . It had both sent in writing and spoken about on the phone numerous times, a detailed 
execution plan was provided. then and only then after all was laid out for the group I was told that after a 
number of conversations with brad karp that only 20m would be paid, (and even that was more than 
originally contemplated ) for both transactions . I feel It was remarkably unfair. Did brad even know of 
our prior agreement.? I called him and he said he was never told.?, I would ask that you I and Brad karp 
sit together if you think it would be helpful. . I would like to send him this email, with your consent of 
course. If the transactions were never consummated, i would not be owed a dime, however , the price 
was known up front. , the detailed step by step plan was followed and overseen by me, the price that had 
been requested before the transaction was begun, and had lready heavily discounted, out of friendship, 
from our agreement . I believe the decision re paying only 20 m has franldy left me felling quite uneasy. 
HOUSE OVERSIGHT 023248 
since you asked since last nov. i found 11 million dollars in dormant accounts. 4 million dollars in 
eileens drawer.. went through cash flows for phaidon shwoing that john murphy is not an accountant. 
redid your gagosian contract , . organized structure in case of divorce, set up gift trust. stopped ada from 
including multiple times things not in your interest, dealt with bad sales tax use tax income tax . created 
8 millino in deductions ,500k in mistakes , found bank of scotland fbar problems,. . reorg bad art 
purchases, funds taken„ charibale decustions , helped with fincnacil sttment gamoing commions fling.. 
boat deductions, rescued stock from grats. . may 1 after months of brad not finding anyone i sent an 
email saying you would have to pay more. . on april 15. I sent an email detailing payments owed if i could 
figure out the basis issue, please see attached, . 
questions you might ask your team ask them to provide a balance sheet or p&l for REgan arts. 
doesnt exist 
ask. either wechsler or haperin to tell you what brh is, or how the tra works. . . ? as bronstein to tell you 
why the proposed phaidon transaction DOES not work. . as them to give you a plan for the plane. ? ask 
them to show you the cash mgmt for over 100 million dollars. . ask them to show you the IT system 
progress after one year. . the approval process for payables. . the cash flow projections? assumptions? ask 
for a comparative review of investments, ask haperin to describle to you in any detail BRH, the major 
asset of his two biggest clients, tax basis, disposiotion in the estate. . etc. ask brad to show you the 
liquidation of the inteveing art space cos? . 
Last year you asked, for my help I told you I preferred not as we would be better off having no financial 
intereactions. the risk was not worth it. You told me that as my friend i had to do it I agreed., here 
we are in what I find to be an awkward situation. the transactions that i decvised were used , our 
agreement was ignored. and im not sure how to respond. 
Date: Thu, Sep 29, 2016 at 11:47 AM 
Subject: new info 
To: Brad S Karp_______________________, Melanie Spinella -_________________________________> 
brad, leon. 
After I spoke to you both, I excused myself from a dinner with some heads of state to walk into the 
bathroom to make some calls re 8865. I wondered whether any group that we could assert had control 
had filed in the past years. I called Fenn and he told me- yes.???!! he said that on friday, for the first 
time he learned that AGM was not delinquent at all. and had filed. !! I asked why no one had ever told 
me or given me the purported justification for no filings in the past for the founders. and he said Well, 
sorry, it was discussed on fridays call. ? the call i was not on . not invited to ,the call wechsler didnt 
listen in and joslin didnt transmit , if it is true. Im also now told there is a note from Deloitte re 13 and 
14 that says the founders DO NOT have to file. but fenn could not tell me who wrote it and said 
Deloitte says to ignore it., that s why they are pushing now. 
steps 1 8865 has many exemptions for filing, let see if we can find one . ( an elegant position might be 
josh and agm if he is panicked and leave us out ). The requirments are FACT specific , so without the 
facts we still have nothing. fenn said he has now put someone on it 
2 leon, I suggest need to focus on 1040 , 2015. , we may even consider filing the minimum 
8865 , and wait until we are sure of our specific requirements, and file an amendment for 15 as well as 
past. no harm no foul\ 
Date: Thu, Sep 29, 2016 at 12:34 PM 
HOUSE OVERSIGHT 023249 
Subject: 
To: Melanie Spinella <_______________________ 
Leon, I am on the verge of giving up. sorry. I cannot deal with the major incompetence of your family 
office. I have been vocal about change. you have made none. john castrucci, still involved etc. the 
bullshit corporate speak, of -our accounting dept, our bookeeping dept our finance dept, the comptroller 
. now gives me responses that --we have heard from Deloitte , I ask, who at Deloite?. -- dont know , 
the new team at Deloite says the old team was wrong! what new team? what old team? -- dont know. . 
Pwc agrees who at PWC , ? ? I ask ,- dont know. BDO is almost finished - who, ? dont know; . 
akin gump agrees. . Fenn? - not sure. 
I have spoken to each of karpl' pezner, fenn, brad. joslin, bodian. multiple times . like your office 
no one in charge with knowledge. so rudderless hysteria. silly beyond belief as this issue is a non 
event, other issues have been shunted aside that have real consequences. I know you are jet lagged. I 
am schedule tightly today , but can free myself for 15 minutes if you want. if so have melanie talk to 
lesley 
Date: Monday, 3 October 2016 
Subject: 
To: Jeffrey Epstein leevacation@gmail.com> 
alan told me you are going to meet tomorrow morning. He has asked me to review the presentation. I 
suggest you see for yourself. since you argued that he was partial architect of the big transaction. you 
will see. -- bad numbers. unclear assumptions. opaque presentation. no alternatives, no review of 
agreements. standardized schedules without names , handed out to the dentists.. NOT even up to date 
inputed numbers , why in the world would they present numbers 4 months old. ??!!/ it is only imputs. 
dividend assupmtions. a mix of silliness. ( art given to museums is listed as cash out ). discount rates of 
13.05 %. what type of number. . 100k for illness expense and funeral, in a spread sheet of 5 billion 
dollars.? insurance numbers left out. says debra owns half the boat? taxes? all a waste of time 
A clat probabaly makes sense. however who runs it, if interest rates change. did you give them the 
assunptions on growth? 
Date: Sun, May 1, 2016 at 6:51 PM 
Subject: Fwd: Valuation Discount 
To: Melanie Spinella <________________________ 
Leon please read the attached proposed response to the IRS , see if you can understand it !!!. Ive asked 
for a re-do. and given prelimiary directions to Alan to have it edited over the weekend 
. If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the 
outrageous incompetence in your family office.. Alans words "" but I was told that.., but I was told by 
the office (sic) that ... , BUT i was told by joslin,. , but I was told by. "" why is leon blaming me for .."" . 
I ye have always given you my best advice, If you reflect on your financial life, you have been kept safe, 
had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your 
office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional 
reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring 
the benefit of between 1.5 and 2b to the better. ) . and no explosions. You have email after email 
,where i remind you that I am not your bookkeeper or accountant ( in brads corporate speak his"" finance 
dept ??!!) that it should be redone .I have reviewed a multitude of the silly reports given to you and 
have pointed out the continued numerous inaccuracies. your question"" so what if the numbers are off, 
so what if the categories are off. whats the big deal??. I suggest you de risk you finances and make the 
tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are, Im 
afraid, certain to get an unhappy answer.. tom will be back from vacation, this week. 
HOUSE OVERSIGHT 023250 
Date: Thu, Apr 28, 2016 at 5:16 PM 
Subject: Valuation Discount 
To: ""jeffrey E."" leevacation@gmail.com> 
I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the 
low end. Let's discuss the response and next steps. Thanks Alan 
Date: Wed, Nov 9, 2016 at 10:27 PM 
Subject: 
To: Melanie Spinella______________________________ 
sorry, I can call on thurs or sit face to face fri afternoon. . I will be in ny until monday morning. 
decisions- questions good news . I have a really elegant solution for most of the following, 1 gift tax. 
cash or in kind . 2 . 1031. 3 fire drill brh tra etc. 4 . ,000( 5. 8865 s. 
tax planing running out of time. . 7 restructure office. barry? brad told me he thought you had 
acknowledged high value this year. gift tax audit etc., . April, Oct. . returns. manage joslin , who is 
still running your tax dept. 
you and I need not rehash old postures, its tedious - I would ask that you tell me if you intend to pay 
for the work that was done, and for the work you expect to be done, thanks 
Date: Tue, Nov 15, 2016 at 12:13 PM 
Subject: Fwd: 
To: Melanie Spinella .1__________________________________k> 
Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for 
you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before 
him. what would you like me to tell Barry? 
There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work 
that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it 
again if you like ) . Brad wechsler was never up to the task. sorry, I realize I have been saying the very 
same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning 
there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was 
chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes i personally 
augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, 
He complained for over a year , re his direction by eileen and ada, and then brad. His breakdown was 
not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with 
john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you 
told him that he works for you and not for me and that brad needs to pays him . 
. Asking me who to hire , estate attny tax people etc. : 
I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up 
questions no interactions , not even one single question asked of me re her work. ( that was Eileen ) 
but somehow carlyns fuck up was my doing. . when i told you that i thought Eileen wasn't up to the 
task, you bellowed that i was talking out of both sides of my mouth. . You told me this year, that by 
trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his 
work. it then turns out that he didn't consider himself fired at all he just received less money. and 
continued to make a really dangerous mess. . Joshn castrucci, in your eyes, was also my doing , though 
email after email said, I take no responsibility for him,and iYOU SHOULD NOT HIRE HIM .!!! „ your 
response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan 
you told me he was gone. however he too is still there, and a waste of money and space. 
My time is complicated by Donald's potentially eviscerating any reason for anyone to use the 
HOUSE OVERSIGHT 023251 
foreign funds repatriation plan that i had put together. . however as you are aware I have some decisions 
to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit 
much time and make any future plans to guide you in the redoing of your procrastination produced 
mess. 
That being said, the tasks at hand are the following. 
You have a bomb of colored string that your retarded children have formed , It has to be very carefully 
unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It 
would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I 
am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to find and learn 
ACCURATE . org charts. books , balance sheets. trust valuations, are all a part. Barry will need 2 
months to just get his arm around what is there, this is before any needed modifications., 
a way overdue re- fresh of your estate plan . . clats , trust. partnerships. grats. llcs. bank accounts, 
filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how 
they fit into new plan. . """" planning art partnership engagement.. , airplane re-do. , buying 
another. . ? boat sale , Miami sale. . TRADING ACCOUNTS. . three years over due. . an 
accounting system. fire john.. joslin stays for a year. or so. so does tom and. except for heather 
everyone should be replaced with new. . Sell Artspace and shut down regan arts. . rationalize, cash 
flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take 
months to review now. . you CANNOT file unreviewed audited documents. . CANNOT!!! this will 
be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit. 
or contain it. . . you will need 3 new hires .a s there is no one in your office that is truly an A player. I 
have great hope in Barry as you know. He will need to be trained. note 
; One year is my guesstimate After 4 years of telling you, that you could do better than Halperin,: im 
glad that you now are willing to follow barrys advice . I take no offense, in fact I take comfort in the 
fact that after only one conversation with Barry you are now convinced to make that change . will take a 
year or more. 
I expect as a friend you will understand that 
I will no longer, not even for one day, work on your affairs . without the compensation that is long 
overdue.. your unilateral idea of after care , not imposed on any other professional, except me, not paul 
weiss ,( caesars alone, a direct screw up on their part ) tom, akin„ no one. needs to end. . you and I 
had previously agreed no more of that, and this after you decided not to pay me per our agreement. to be 
fair I can not say im surprised as you have email after email , stating that , if you save a great deal of 
money, you wont want to pay, so limit it to 40m per year. - water under the bridge 
If I can find the time to work, on your project , which is not by any means certain as I have said, I 
hope you understand that it now will have to be under my standard terms and conditions. and well 
documented so as to avoid any more of the he said she said. I never want to have any more 
uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as 
follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing 
an agreement. 5 million every 2 months thereafter for 6 months ie march may june . this can begin if i 
am able in January. I will immediately stop work, if the payment is not received. If you want me to 
work this year until Jan 15 , it will be 10 million, paid upfront. after one year you will be left with a 
new estate plan a running office. staffed with professionals overseen by Barry. ( hallelujah ) a tax plan . 
and an investment that returns more than any painting you could possible own. . no agreement - no 
work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as 
to what I should say. 
Date: Tue, Nov 29, 2016 at 1:27 AM 
HOUSE OVERSIGHT 023252 
Subject: so there is no  misunderstanding  
To: Melanie Spinella < L> 
I have told the brads and barry,- I am done. its not a negotiation, out!! - fyi given my carlyn joslin 
castrucci, admonishments,- though my involvement in those - in one instance only gave a name - in 
another only given an eileen dictated choice btween two 250k preparers. and for castrucci, I actually 
sent emails that i take no responsiblity for his being hired. - however you felt strongly that I should be 
saddled with their outcomes .even with brad wechsler, i again said two months in, Leon, he doesnt get 
it. I tell you this so that you will understand that I will not interview, recommend or vet any new hire. 
A story - In 1993 trump and I had a friend that kept telling his pilots how to fly, and when to fly, he 
couldnt help himself from hiring morons as co pilots, and maintenance people based on cheapest rates. 
Donald and I tried and tried to talk some sense into him, to no avail. Donald and I were in aspen, sitting 
at little nells. when the friends plane crashed into the side of aspen mountain , klliing him and all on 
board,- Trump looked at me and said without a blink , I guess NOW he wishes he would have listened to 
us.- a metaphor for your office. . . had we not waited to the very last hour having had a six month 
window and tens of unasnwered text and emails re decisions needed including the 1031. you would have 
saved way more than you often feel obliged to argue about. . silly but i reallize you are stressed. 
Barry will need to sit with brad for months, to absorb all the co's, structures. cash flow, financial 
statments etc. I will present barry my thoughts on the overall redo , it will be the exact same email that i 
presented to you and brad two years.ago . accurate numbers first. and foremost. . ( last week gaming 
report stil funky). IT etc I pointed out some of the more glaring errors to barry to give him a flavor of 
what is to come. 
Tuesday if you like we should discuss Giacometti , and pesner . difficult to finesse him if they are 
filing documents that you won't. these ridiculous conversations with tons of people on the phone , 
removes any claim you might have to not be considered a WILLFUL NON-FILER. ( after youve been 
told by attnys and pwc that you should file in writing , you have NO choice ) .. worst possible result - 
including serious penalties up the kazoo. 
Date: Tue, Feb 24, 2015 at 8:20 AM 
Subject: 
To: Melanie Spinella <________________________> 
Leon, 
Yesterday , I again spent hours upon hours of my time with your office. ,( speak to brad to get 
flavor) and you and i will discuss the results in gory gruesome detail on Friday. it mirrored many other 
weeks spent doing the things that I don;t have the time to do. 
In order to keep things in perspective, maybe reviewing an analogy I have used before with you, 
might be helpful. You and your family are a 6 billion dollar corp. with an income between 250 -500 
million dollars per year. It contains a few operating biz's , a large wide array of existing investments, 
in various categories , a desire to enter into others. A panoply of loans, notes. purchases, wide range 
of all types of taxes. , planes. boats homes. . trusts ,grats. a crazy number of bank accts. ( with no 
oversight ) . law firms, acct firms, 800 page tax returns, foreign firms. art consultants. 
construction consultants bill payers, home mgmt.,vast multitude of llc's , including foreign, and with 
all that you only have a combined overhead of less that 3 million dollars. 
I have previously sent you the very same note that i have enclosed again below ,this time with 
highlights . I wrote it to you over a year ago. As my acute disability ( selective memory) seems to 
have been raised as one of your concerns , as a rule I try to memorialize things in writing in an 
attempt to lay out issues that I fear may later turn out to be a problem. ie what i would and wouldn't 
do , - my responsibilities. etc and those things that are not, below you will find details of things that I 
HOUSE OVERSIGHT 023253 
thought needed to be done, so that you wouldn't find yourself in the very place where you currently 
find yourself. however ,you chose to defer many of my suggestions- see below -,until only weeks ago. 
! you chose to defer the jpm acct. the art partnership on and on - into this year. and though the 60- 50 
40 timber emails all carried with it a clear warning that you needed to do something re personnel if it 
were to stabilize,- you chose to wait. 
ONE YEAR AGO 
Feb 17 2014 i wrote: 
With regard the more pressing issue I am uncertain of just how to proceed. I am torn, as my very 
strong inclination is not to be involved at all. It is extremely time consuming, delicate, fraught with 
many pitfall many that will make you very upset and a major pain in the ass. I wrote you months ago 
that the quality of the people involved need to be upgraded. ( lucky for me these last issues arose way 
before the beginning of my involvement ) I am also aware however of my overarching friendship 
obligations of ok, -given all the complexities who else can do it? problem. 
Your family office needs a daddy. children with good intentions are running around, sniping, 
nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take 
charge Everyone would report to him. Eileen included. He would however work for me. this is not, 
by a long shot my first choice as I prefer only being responsible and standing behind my own 
personal work ( ie the word DONE will no longer be transmitted to reflect status stated by others ) 
With no commitment on my part whatsoever, to do it. So far as I have failed in my attempt in 
trying to think through the problem creatively . My organizations handling of the more complex 
issues I believe you might find very costly, very! ( however many structures available some risk 
sharing, maybe risk caps ,etc ) but would require my teams doing the work , not yours. Ada should 
be only a trust, grat administrator, not sure what role you prefer for Eileen as you hired her initially to 
oversee investments. whether Rich your controller stays or not, is not urgent. having Tom report to a 
new person,- is. coordination with Suydam Kathy Gregory, I would suggest limiting to one person. 
The increasing public profile needs to be taken into consideration. 
TODAY 
With your acquiesence , Eileen did not report to Delson ( he acting as a conduit directly to me) , she 
continued to provide bad info to both you ( cash flows , stock accts, structures. sales Etc) and me. 
and each time with my many annoying calls to you made immediately afterwards that she was g.....y!! 
No one was hired to run YOUR office until two months ago , no one was even interviewed and even 
now , Brad, a very nice man, is not even full time,(crazy ) Hours upon hours of time need to be spent 
training him. and his new staff. Eileen followed your instructions, not mine, in fact she continued to 
ignore mine saying "" but Leon said "" or "" its on Leon's desk etc "" , You would become frustrated 
when i pointed out each instance, of her obfuscation. originally you were given the clear choice, but 
to save money ,you chose not to hire my team. I was hired to do the architecture, you kept your own 
team. with Eileen at the head. instructions were given by me„ detailed but ignored by her. ( except in 
the instances where I inserted myself and personally had to do the weeks of grunt work 
),ex. jpm morgan acct still not in use? That being said, If you do the cold calculation ,starting from 
where you were, to where you are currently . you have made a hell of a deal. -- negotiating down 
my original amount requested, calling upon our friendship and suggesting that the Carlyn mess was 
partially my fault. ( though in that specific example , I had never been asked to do more than merely 
provide you the name of the most highly recognized ally in the field, not consulted,nor even asked 
again for my guidance along the way. ). I accepted the discount as your friend. ( by the way 
„suggesting now, that your Tom is now that last word on tax characterization, frankly is a bit much,-). 
however - that is all in the past. 
HOUSE OVERSIGHT 023254 
In order to move forward 
I would ask that you realize that very unlike yours, My business is only comprised of my personal 
attention and my personal time . Time that I was forced to grossly overspend on your various issues 
last year. . As you are my very close friend I will not have you participate in a bidding process that I 
have decided i will have this year for my time. (hopefully a more fair way to allocate ) I would also 
ask that you keep in mind that though our deal expired months ago. (also keeping in mind , that your 
understanding of the final payment terms neither reflected the emails or my memory, we finished it up 
your way. ) I have answered every call Brad , joslin, Ada or you, have made . reviewed docs over and 
over/ until once again, I was forced to insert myself strongly as I thought it dangerous not to. I made 
serious dollar and time concessions last year.very serious I am wiling to continue to accommodate 
some of your concerns , but I am, under no circumstances , none, willing to spend my time for free. 
its not fair. After cleaning up Carlyn's mess , which was a few weeks and 30 million dollars . We 
were both highly aware of the dire circumstances in which you found yourself last year, and in fact due 
predominately to its seriousness, and those very circumstances I took extra care in our negotiations . 
(you had claimed I had you over a barrel , ( a horrible position to be in with my very close friend.), 
unfortunately I fear that if you are not cautious ,in the near future, another barrel will appear of your 
own design ) 
I heard you when you said you believed i had already been paid for the work that is now required. The 
art partnership has fully answered all your concerns and discharged all my obligations and more so. 
. ( FYI Carlyns art partnership that you referenced is similar in only its title. ) You will also recall 
that you required that my payments be at the end of my work not at the beginning as everyone else's.( 
my work was never to include hours upon hours of training your staff). I eventually agreed, this of 
course should make clear that the 2014 tax year that will close Oct 2015 is not covered by our past 
agreement at all. I pointed this very fact out to you when I initially proposed a multi year agreement 
right out of the box. you said you preferred not. As you said ,I have produced results to date, far in 
excess of even my own exalted opinion of my projections. I have devoted a monumental amount of my 
limited amount of time-- way, way in excess of our agreement. I will be fair, I am willing to roll in 
the amount still outstanding from last year if that helps .. However, As my best student , and my only 
one, you are now capable of doing most, if not all, of the required work yourself. I can put my 
whiteboard away when you come to eat and just have fun, trade stories,, share moments ideas etc. . I 
am of course always available to guide you as a friend if you choose that route. always. It will take a 
great deal of your time , but you will not have to spend any more money on mine. 
We are scheduled to meet fri at 430 , I leave at 5 am sat morning. 
Date: Tue, Mar 21, 2017 at 6:58 PM 
Subject: Fwd: request for docs - AAP 
To: Richard Kahn Darren Indyke <_ 
not for now. but maybe later , 
----------Forwarded message---------- 
From: Ada Clapp <WIMPPI> 
Date: Fri, Mar 17, 2017 at 10:45 AM 
Subject: RE: request for docs - AAP 
To: ""Barry J. Cohen""________________ 
Cc: Brad Wechsler <I________________________ 
Attached are: 
1. Executed Version of AAP 
""jeffrey E."" leevacation@gmail.com> 
HOUSE OVERSIGHT 023255 
2. Most Current Draft of AAP 
3. Redline of 1 against 2 
4. Summary of AAP from Vanessa Eng 
-----Original Message----- 
From: Barry J. Cohen [ 
Sent: Friday, March 17, 2017 8:07 AM 
To: jeffrey E. <jeevacation@gmail.com> 
Cc: Brad Wechsler <1111.1.1>; Melanie Spinella 
<11111>; Ada Clapp <=111.1> 
Subject: request for docs 
I will organize. Copying Ada who has a lot of this. 
Sent from my iPhone 
On Mar 17, 2017, at 7:25 AM, jeffrey E. 
<jeevacation@gmail.com<mailto:jeevacation@gmail.com>> wrote: 
can you send me latest bank art loan docs. BRH agreement. TRA 
agreement amongst shareholders. . , org chart for phaidon, art space 
, ownership only,. - list of invetsments , ownership ofl.a. house 
art by highest gain. . - 
Date: Tue, Dec 29, 2015 at 7:26 AM 
Subject: Fwd: leon DO NOT SEND, hand deliver. 
To: Jeffrey Epstein <jeevacation@gmail.com> 
agreement, 
and regan arts. . . 
.structure, / list of 
Transaction complete ! 
. this - in spite of your collection of Elysium misfits. !!! 
With Brad out of the office and unable to run his usual interference , the level of his utter incompetence 
was brought front and center, he may be a step up from Eileen, but if he is, then it is not certainly not by 
much, . Though you and I have spent many many hours discussing the importance of details and 
mechanics I was not shown one document re phaidon,- not one.. Brad wanted to keep it private between 
he and his so called"" advisors"" however as he was out of the office during the most important 
transaction of the year, I did get to spend time with joslin Joe and john, - the situation in your office is 
wholly ludicrous - to summarize - the list I provided to Brad last December - things I thought were a 
priority to get done after consulting with your office still remains virtually undone. 
IT, still desperately needed- reporting flawed cumbersome and inaccurate . all done by hand as one -off 
exercises, - airplane: re structure, (my only suggested priority in june ) is really ,no further ahead, 
,consultants up the kazoo but nothing at all done.( the office was told that i cannot even see the proposals 
received without brads specific authorization ) - brad has no idea even as to what questions to ask. he 
knows little of finance, is run roughshod over by almost everyone in the office. he is a little man, using 
your power, to appear larger . Eileen was self aware enough to know she was over her head, that is a huge 
difference. bad info is rampant ie 3 million in deductions Im told are taken for art space but on closer 
examination it turns out they cannot be used at all. ( ZERO benefit ) though you will be told yes they 
were deducted on the return they said that is the question they get asked ! "" were they deducted "" not 2 
is there a benefit"" !! I asked for the balance sheet and P and L for Regan arts , a basic first step in 
HOUSE OVERSIGHT 023256 
order to check your financials. ""sorry we never got one?"" though 9.8 million invested, no p&l, nothing, 
a construction project run amok , no budget, the coo fired after only 3 months., no clue. I can add that 
artspace financials are also a total mess. 
As your friend and in order totum the page. I will try to be constructive 
The following is a list of things I think would be in your interest to get done asap .but definitely not by 
me. 
i suggest you form new grats. , hire a high level tax partner. use your trading accounts as they remain 
the paramount requirement 16 months after i emailed to you their importance. , I suggest you consider 
having the 49percent of phaidon merged into artspance and have Richard buy artspace. re-do bank 
loans, no need to pay interest at higher rates on boat or plane. . as Richard is now no longer trustee. re-
do will, make suydam executor , with Barry, and john as back up. pay 1 million a year for executor role. 
get rid of Judy Black trust, deal with gifts and their tax returns, . review amounts to kids at fixed ages. put 
more protections in for Alex and Victoria. , distribute some money to kids let them make decisions. , 
decide art division with children in attendance . have fire drill done on estate. fill out estate returns as if 
you and Debra died today, choose advisers - rick bronstein said the only 1040 he ever filled out was his 
own. ( this is brads chosen advisor??!) Halperin has a conflict that should be addressed., Debra should 
enter a tenants in common agreement with kids. you have airplane consultants tax consultants it 
consultants. plane operation consultant. . boat consultants. architects, lighting , art, legal, . foundation, 
deal with TRA, BRH , rationalize investments, cash flow, reporting, gaming disclosures, foreign, gift. . 
prepare tax projections for 15 and 16, . deal with neg basis ( tufts gain, debt financed, art partnership, 
pledges. sell stock, art, deal with phaidon debt. athene,? income, capital, foreign, exit, corporate, 
insurance regs, out and inbound issues, basis, appropriate discount rates. ? terminations. control. , 
qualified dividends, corporate tolls, inversion rules. , grat issues, short swing and other sec disclosures, 
Rothshcild bank, 150 b they have a distribution network with no products , private bank Rockefeller 
Rothschild. financial service, deal with UK visa issue sooner rather than later. we can talk about Rowen 
request re Athene , 2 billion in taxes on transaction. ?! 
the facts as i see them 
in June and then again Sept, we both agreed to a 50% of phaidon payout., then after weeks of thinking 
about the issue ( which I fully understand ) . the payout was unilaterally changed. 5m woudl be reserved 
for the future ? . and out of the remaining 15m,? i would receive only S. ( note : I'm confident that both 
the debt, and the artspace investment will also lead to a write off of another 30 m. plus ) In my dining 
room ,you were surprised when I said that i require most people to pay their advisory fee up front so that 
I am assured that I will be properly compensated for my work when strategies that I devise are 
implemented. you may recall that you appeared offended and said "" are you suggesting that i would go 
back on my word"" I said no , of course not ! you are my closest of friends ,but my experience is that 
when amounts get large, people tend to get unhappy when it actually comes time for them to pay,. 
From day zero a 50 - 60 million price was attached as the fair price of the transaction just completed . 
though this amount was already substantially less thanour agreed and negotiated formula. - I was 
never told that this was out of range. in fact, alternative methods of payment. plane -in-kind etc, were 
discussed ( ie keeping the 30m portion of fee outstanding till March ) ,I provided as requested a 
detailed step by step execution plan and reviewed all documents that i was given access to. ( Phaidon 
was not forthcoming ) in order to make my many corrections. I was then told that Alans involvement 
warranted a discount. Even in the best of light , though it is beyond question that not one-,not -one 
time in three years has he ever proposed a unique idea. (including the new tenant in common idea,) and 
lets say he made a contribution to the plan andeven that it was 50 %. though no one could posit such a 
large amount unless they were wearing a brightly colored clown suit. , the price of doing the deal was 
HOUSE OVERSIGHT 023257 
known . It had both sent in writing and spoken about on the phone numerous times, a detailed 
execution plan was provided. then and only then after all was laid out for the group I was told that after a 
number of conversations with brad karp that only 20m would be paid, (and even that was more than 
originally contemplated ) for both transactions . I feel It was remarkably unfair. Did brad even know of 
our prior agreement.? I called him and he said he was never told.?, I would ask that you I and Brad karp 
sit together if you think it would be helpful. . I would like to send him this email, with your consent of 
course. If the transactions were never consummated, i would not be owed a dime, however , the price 
was known up front. , the detailed step by step plan was followed and overseen by me, the price that had 
been requested before the transaction was begun, and had lready heavily discounted, out of friendship, 
from our agreement . I believe the decision re paying only 20 m has frankly left me felling quite uneasy. 
since you asked since last nov. i found 11 million dollars in dormant accounts. 4 million dollars in 
eileens drawer.. went through cash flows for phaidon shwoing that john murphy is not an accountant. 
redid your gagosian contract , . organized structure in case of divorce, set up gift trust. stopped ada from 
including multiple times things not in your interest, dealt with bad sales tax use tax income tax . created 
8 millino in deductions ,500k in mistakes , found bank of scotland fbar problems,. . reorg bad art 
purchases, funds taken„ charibale decustions , helped with fincnacil sttment gamoing commions fling.. 
boat deductions, rescued stock from grats. . may 1 after months of brad not fmding anyone i sent an 
email saying you would have to pay more. . on april 15. I sent an email detailing payments owed if i could 
figure out the basis issue, please see attached, . 
questions you might ask your team ask them to provide a balance sheet or p&l for REgan arts. 
doesnt exist 
ask. either wechsler or haperin to tell you what brh is, or how the tra works. .. ? as bronstein to tell you 
why the proposed phaidon transaction DOES not work. . as them to give you a plan for the plane. ? ask 
them to show you the cash mgmt for over 100 million dollars. . ask them to show you the IT system 
progress after one year. . the approval process for payables. . the cash flow projections? assumptions? ask 
for a comparative review of investments, ask haperin to describle to you in any detail BRH, the major 
asset of his two biggest clients, tax basis, disposiotion in the estate. . etc. ask brad to show you the 
liquidation of the inteveing art space cos? . 
Last year you asked, for my help I told you I preferred not as we would be better off having no financial 
intereactions. the risk was not worth it. You told me that as my friend i had to do it I agreed., here 
we are in what I find to be an awkward situation. the transactions that i decvised were used , our 
agreement was ignored. and im not sure how to respond. 
Date: Tue, Oct 27, 2015 at 6:35 AM 
Subject: Detailed constructive list. 
To: Melanie Spinella 
Cc: Brad Wechsler 
Deciisions needed asap 1 phaidon. topco etc. . ( cash needs) many wires needed !! 2 new trustee or 
not. - new decantings 3 art in art partnership.??! .overdue ?! 4 grats? window - 5 art space. .6 
regan arts. .7 plane simplify re strucuture re finance. re purpose . 8 .boat restrucutre, sister, 9 re 
fresh estate plan. to consider modifications Alex Victoria equal does not mean same. 10. tra review, 
sale., 11 brh, doc review, 12. sale of stock or art ? tax, rent sale 13 . gifts of art. 14. charity current 
and future pledges, gifts, 15 cash flow. . 16 . new IT and new personnel. 17. operational re-do ( bill pay 
HOUSE OVERSIGHT 023258 
etc) . 18 debra and children ? current and future involvement . notifications etc. . new dynasty trust ? 19. 
tax plan and dislosures gaming. foreign apollo and phaidon related. 20. investments rationalize incl 
trading accouints . 21. bank loans . rates ? ? terms etc. consolidate, plane boat houses. disclosures? 22 
. consolidate and review and reduce the number of all bank accounts and legal entities. decanting 
liquidating etc. . 23 all outside consultants? valuations etc. 24 review legal bills carefullly. 25. third 
party responsibilty Bens house, alex films. etc. 
Date: Tue, Nov 3, 2015 at 10:45 PM 
Subject: 
To: Melanie Spinella <___________________________ 
okay, its time for you to decide how you would like to move forward. ( fyi get your money from the 
1031 . the screw up is only one of many,) If you decide to move foward on decanting. phaidon, note 
basis estate update , each requires many carefully orchestrated detailed steps. and precision . there are 
hundreds of millions in saving if done correctly and a huge mess if not. If you want me and my 
colleagues to do it, oversee it paper it and guide it, you should tell me. It is a big undertaking . If not, 
ok.. Brad and your crew can do it. I will have no real further involvement apart from confirming the 
outcome of my proposed structure, I will not risk the admonition of- they thought you said, they thought 
you meant, they understood it to be. but they said you said, ( i e ,I asked at our meeting that accounting 
be done properly for bens house , what came back was ada thought that I meant that we needed to go 
back to the 97 trust and give him a full third party accounting of where his money had gone??!! I kid you 
not). I dont think brad should talk to jane heller without a fully fleshed out plan in place and even then it 
should be you. 
Date: Mon, Nov 30, 2015 at 11:21 AM 
Subject: agenda 
To: Melanie Spinella < > 
1 fees, amount and to what entities when and responsiblitis. 2. gagosian idea to save a minimum of 10 
mill and maybe more. 3. i can walk you through carlyns screw up, 50 % would have made little 
difference and maybe made it worse. 4. we should have an all hands meeting with your family to talk 
about art distribution on death. . 5. phaidon, decantings ( already firmly in progress ) loans. ( alan ) 
pent. ( with follow up ) all part of same elegant transaction, 6 asymetric risk worth at least 50- 60 no 
matter how you calculate. I can explain. 7 lets get the money issue out of the way once and for all. I 
have my team set to start. 
Date: Fri, Dec 4, 2015 at 8:07 AM 
Subject: Fwd: moving forward 
To: Melanie Spinella <__________________________> 
I had forgotten that Alan was actually at the table when i explained my note deal to you. it was at the 
end of the meeting described below. . as you will recall, not once , not even a peep did alan suggest 
contemporaneously his hand in the crafting, in fact brad said it was an idea. that HE brad, HAD HAD, 
from the begiining . my emails between alan and I that you can read, further confirm authorship. Im sure 
you recall the obnoxious tooting when alan said he agreed with my plan. . 
Date: Mon, Nov 2, 2015 at 10:03 PM 
Subject: moving forward 
To: Melanie Spinella <____________________________> 
I have mixed emotions about what transpired today. really, You saw first hand in nauseating detail 
what i have been saying to you for quite a while now. Joslins answers were totally incomprehensible. 
HOUSE OVERSIGHT 023259 
the charts he prepared unreadable. Brads defensive posture was at a minum very surprising . He and I 
have recently gotten along quite well, I thought. Neither Joslin or Brad understood a 180 million dollar 
number. no cash flow after weeks of requesting? odd. when you suggested that heathers behavior was 
emblematic of a sloppy office , brad said lets not talk about emblems??! bill pay, admittedly no change 
for the year. . plane not done. though it was the only thing i suggested doing first in july . . I sent you a 
list of 10 consultantts. brad said three, . i didnt want to push it. I was shocked that brad was opining on 
things he knows little or nothing about. tax issues. 1031. neg basis, note payoffs ( the same idea he 
said he had had from the beggining??!!) . answers re LBF holdings that can be corrected ( they cant) . 
valuations that have never been read. . When we met in your lobby he seems surprised that i was there. I 
dont know if he felt somewhat sandbagged. . . 
the savings on the note payoff is aprrox 33 % of 1.8 billion, real money if you do phaidon which i see no 
reason not to. if later josh and ben want to buy it back with you or without you they can. i will walk you 
through the structure one on one. . the losses will offeset the calder gain as well as apollo gain. 
Im aware that seeing what you saw frustrated you. I felt badly for you. 
You wanted a contingent deal. real value. etc. I will not of course hold you to your deal. . its silly. its 
not how i work or a reflection of our friendship, my proposal is as follows. I want away from your 
buisiness , but at the same time leaving you in good shape. I think you should pay the 25m that you did 
not for this year. for next year its the same 40 m as always, paid 20 in jan and 20 in july, and then we are 
done. I will give you advice and counsel but new people will be running your operating machine. I will 
oversee all the work that needs to be done you and I will hire new people, and it will be self running. ( it 
was may in my house when you told brad it had been 5 months and you were getting fed up ) I will set up 
a parallel. office , somenoe like wendy dolman or her quality is paramount. two accountants two 
bookeepers and two office admins. . alan and zoe will handle trusts and grats. heatehr diana george will 
be incolved in art partnership. if you want brad, analysts etc. and kids to do investments I have little to 
add in that regard ,except to be able to account for things properly. I suggest that the kids must have skin 
in any deal. 
Alternatively , we can continue to focus on fun and let someone else do the things that you want done. 
and you and I can kibbitz about it all. structures outcomes risk, museums. charity, ( joslins answer by 
the way was I had asked how much charity was leon planining to give this year , ( the 2 m ) he didnt 
include your foundation or the payment to me, or from debra and you??!! 
Date: Mon, Nov 30, 2015 at 11:21 AM 
Subject: agenda 
To: Melanie Spinella <____________________________> 
1 fees, amount and to what entities when and responsiblitis. 2. gagosian idea to save a minimum of 10 
mill and maybe more. 3. i can walk you through carlyns screw up, 50 % would have made little 
difference and maybe made it worse. 4. we should have an all hands meeting with your family to talk 
about art distribution on death. . 5. phaidon, decantings ( already firmly in progress ) loans. ( alan ) 
pent. ( with follow up ) all part of same elegant transaction, 6 asymetric risk worth at least 50- 60 no 
matter how you calculate. I can explain. 7 lets get the money issue out of the way once and for all. I 
have my team set to start. 
Date: Fri, Feb 20, 2015 at 5:52 AM 
Subject: 
To: Melanie Spinella <________________ 
> 
1) pg 1 A"" unequal shares"" . pg 23 ""removal of trustees "" absolute. dont be confused with abiltiy to set 
HOUSE OVERSIGHT 023260 
up seperate trusts„ 2) I am reachable this afternoon in europe. on cell. 3. on another note . -our 
financial agreement ended months ago . seperate from the art partnership (which i was told yesterday to 
my amazement is still not funded) . i am obligated to complete ? the time i have dedicated since oct/ 
dec has been spent mainly as your friend. tom, brad though i am fully cognizant of my responsiblities. I 
will try to help find people. I am not good at human resources. howevr If I don;t think they are good 
enough for you. I will continue to say so , and you obviously decide. but I will reiterrate even in the face 
of your ""nobody is good enough argument."" keeping foremost in my mind that you and I have only beeen 
shown a very tiny handful of people. 4. I find the friction over fees , counterproductive, in an attempt to 
avoid it I had suggested a multi year deal early on. you rejected it. I then suggested, and urged you to 
have an option at a fixed fee , you also rejected that .you wanted the fee payment only at the end I argued 
but ,conceded. I suggested a structure that tom didn't like, you rejected it. 5 I suggest you make a fair 
proposal.- that i can either accept or reject. some payment up front this time is a requirement. I am willing 
to modify any outstanding obligations. - there are creative ways to assure you of your desired 
characterization of those payments. 6 you should open accts at Deutsh. and goldman. I am told that 
eilleen has set up over one hundred bank acccts for you???!!. few relevant 7 you should immediatly 
demand a list of all her acct authorites, exec poistions . director etc. bank authorizsations. etc. talk 
later or over the weekend if you like 
Date: Tue, Jan 5, 2016 at 9:32 PM 
Subject: 
To: Jeffrey Epstein <jeevacation@gmail.com> 
Mark was here this morning , the proposed transactions are extremely complex. and would take a great 
deal of detailed time. I do not know how, and if ,to move forward - our last transaction. a transaction 
which you saved 600 million in tax. even if 20 years away, ( i hope longer) even discounted is a 300 
million savings . for that you ignored our agreements , verbal written and emailed -and decided that it 
was only worth 8 million dollars. ( assuming phaidon srichard happens. 24 m savings not including 
artspace and debt benefits certain to come later ) FYI the phaidon transaction cannot happen as 
currently comtemplated IT will not work . NOT 
When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple 
times that i thought it was a very bad idea, in that I preferred to have no financial interactions. I dont 
have many friends and didnt want money in any way to interfere with our unique relationship. Reminder, 
For five years you had the kind but goofy Eileen Alexandersson as the sole manager of your accounting, 
legal, investments, reporting, trusts etc. When I first told you in no uncertain terms that I firmly believed 
she was incompetent you admonished me for"" speaking out of both sides of my mouth"" . With regard 
Brad Wechsler, there has never been a "" both sides. "". I have consistantly maintained since day one that 
he was highly unsuited for the job. When you initially asked me to help convince him to take the role, 
promising him a position to manage mirage investments I sent you a note saying that instead of hiring him 
you should pay up and get first class people. I have reiterated the same message for over a year now. . 
Brad , not me ,was tasked with hiring new people, according to his org chart.(nauseating ) and as you 
wanted him to take ownership of the staff,he conducted many interviews alone. . you may recall that as late 
as may, you told him in my presence that though six months had passed he had not hired anyone. since 
then I have rectified errors in sales tax, use tax, income tax, fbar reporting, 1031 reporting, 8 million of 
deductions missed errors of millions on the returns. ,( april ) Oversight on new grats- first at 22 and then 
at 19 that were done without my consultation and needed to be resolved soley as a result of my last 
minute intervention. . 600 million in after tax savings was just accomplished, though you left the 30 
million outstanding that I had said should only be done"" if' that was my additional fee. not used for non 
biz purposes and not art. 
HOUSE OVERSIGHT 023261 
in June and then again Sept, we both agreed to a 50% of phaidon payout first projected at 20 . but less 
when artspace and debt taken out, - then only after weeks, when you delayed any detailed discussion of 
money wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally 
changed our agreement. . 5m would be reserved for the future ? . and out of the remaining 15m,? i 
would receive only a third. ( note : I'm confident that both the debt, and the art space investment will also 
lead to a write- off of another 30 m. plus ) In my dining room ,you were surprised when I said that i 
require most people to pay their advisory fee up front so that I am assured that I will be properly 
compensated for my work when strategies are implemented. you may recall that you appeared offended 
and said "" are you suggesting that i would go back on my word"" I said no, of course not ! you are my 
closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it 
actually comes time for them to pay. 
I include below the email i sent to you on April 15, the day i was examining your returns It laid out 
my understanding of the compensation agreed for a transaction of the magnitude to the penny of the one 
just completed.ie 600m When it appeared that the transcation would and could go foward I was the 
first to point out that our agreement would cost you too much money, therefore 
From day one I proposed to discount our agreement to a 50 - 60 million range. An extremely fair price 
for all the transactions just completed. including Phaidon. - I was never told that this was out of 
range. in fact, alternative methods of payment. ie my plane, or an -in-kind payment were discussed ( ie 
including keeping the 30m portion of the fee outstanding till March ) ,I provided, only because you 
specifically requested a detailed step by step execution plan and reviewed all documents that i was given 
access to. ( Phaidon was never forthcoming ) in order to make my many corrections . ( as i said more 
needed on phaidon ) . I was then told that Alans involvement warranted a discount. Even in the best 
of light , though it is beyond question that not one time in the three years of his retainer has he ever 
proposed a unique idea. (including any way to deal with the use issue on debras death ,or even the most 
basic review of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to 
the plan and stretch reality beyond the pale and say it was 50 %. though no one could posit such a large 
amount unless they were wearing a clown suit. , the payment and our formula of 37 percent associated 
with the deal was known . It had both sent in writing and spoken about on the phone numerous times, 
a detailed execution plan was provided. then and only then, after the entire transaction was laid out for 
the group to follow You told me that after a number of conversations with brad karp that a total of only 
20m would be paid, (and even that was more than you originally contemplated ) for both transactions . 
Leon I feel It was remarkably unfair. Did brad even knew of our prior agreements.? ?, I would ask that 
you I and Brad karp sit together if you think it would be helpful.. I would like to send him this email, with 
your consent of course. If the transactions were never consummated , i would not be owed a dime, 
however , the expected fee was known up front. , the detailed step by step plan was followed and 
overseen by me, the amount that I had requested before the transaction had even begun, had already 
been heavily discounted, out of friendship, . I believe the decision re only paying 20 m has frankly, left 
me felling quite uneasy. and colors the view about the Athene or Rothschild transaction. 
Date: Sun, Mar 20, 2016 at 11:17 PM 
Subject: 
To: Melanie Spinella < 
glad to see you are personally on the mend - as well as the fence. -- As you know i dread money 
discussions with you-- however -we should address the issue of what you would like to do moving 
forward. re- do family office, accounting trusts, estate and apollo agreements . Along with your"" 
payment"" last year we agreed . no further obligations on each side. yes, i continued to moan. I realize 
that though I ye done quite a lot this year already , it is not your responsibility. . As you often like to 
HOUSE OVERSIGHT 023262 
remind me- you've paid a great deal of money to date. that being said - If you want my involvement 
moving foward, I suggest you pay my regular 1 fee of 40 m. 20 now . 20 on completion or as per the 
invoice issues at the end of last year pay 30 all at once. - 
To help out . im keenly aware of your current cash position. so I will consider an in-kind payment - 
real estate ( Miami )„art , financing of my new plane (allows you to spread over years or of course the 
preferred cash. Get rid of Castrucci,it is over a year since the same story of findign the right guy at the 
top. you entire accounting needs to be re done. , office downsized, reporting re done. meetings to 
recitify, categlorize , the various docs re appollo, rowen, suydam, alan etc. Brad can direct investment 
guys, ( hopefully) my people will be in your office for a few months . reorganizing IF you decide not to 
pay I fully understand, as I m sure you will re my no longer spending any serious time on these things. 
Of course re any non financial issues, I am always there for you and will continue to be the best friend I 
can be. 
Steve jobs said that everyday he woke up, and asked himself, if he knew he was going to die tomorow, 
would he do the same thing that he had planned for the day- he wanted to check that he was doing things 
that he really wanted to. after three days of getting back an answer of no, he would change what he was 
going to do. . he also did not believe in LONG term plans. I dont think either one of us will figure out 
what we want to do long term so my thinking is that we should try to have fun everyday, and welcome 
serendipity. 
I think another trust and estate lawyer should be brought in to deal with the issues of how not to allow 
your family to get screwed by your partners on death. Alan, for years told me that paul weiss had drawn 
the docs so no issue but when recently pushed by my new fire drill he asked akin to draft .?! PLease 
ask brad about why he keeps talking about flow. I dont know what he means, its so silly. . this is only 
about money control and protection. 
I am leaving monday night now. free to speak in the afternoon 
Date: Tue, Apr 12, 2016 at 11:49 AM 
Subject: 
To: Melanie Spinella < 
use tax questions. ? california question state returns? as you know wendy did not play a role here. . 
her involvment moving foward would help alot. . sign your gift tax return today if possible . I will 
be finished tomorw with this year. crazy on april 13th. !! . last minute to say the least. . brad told 
you the tra can be separated with approvals, which should be simple. . alan alwys just says no, . unless 
he is asked, well what if we amend what is there. . moving foward , i ask you to decide if you want me 
and my team involved or not. . I want to be weaned. I agree the past, apart from phaidon and artspace. 
this year of course is done.. for me to allow bad reporting to negaitvely impact you, by keeping joslin, 
would be irresponsible on my part. . letting him do harm, or stopping him and having to listen to his 
leaving is my fault. is awkward. . I will call at 3 
Date: Tue, Feb 9, 2016 at 7:56 PM 
Subject: Fwd: 
To: Melanie Spinella 
this was sent four months ago, nothing has changed 
sent oct 15. before big transaction. 
Office, - ada goes. , hire heather a paralegal. Joslin goes or is closely managed by new cfo with tax 
experience. . castrucii goes asap.as he merely adds to mess.( too many people, ex 7 people or more to 
HOUSE OVERSIGHT 023263 
pay a bill ) eva goes. outsource as much as possible. . bookkeeping systems built from scratch, 
airplane restructure, boat. same, new grats. phaidon sale , decide on artspace survivability, regan, . do 
the kids really want these?, children accounting ie bens house.etc. re do estate for new facts. redo 
loans, trading accounts activity, . gaming -foreign- disclosures. . BRH TRA re thinks. household and 
construction architects. . redone. art partnership , choice of paintings. . re do structure of consultants. 
tax re family office. . decide if investments are a realistic option in the next three years.. insurance. 
operations. airplane , etc. . art foundation , private. max charity contributions fmancial reports. still 
waiting. ? on line banking, . tax planning, family office deductions ( profit center ) . airplane certificate, 
redone jet aviation redo. . paper gigi ( E )trust to avoid gift tax. . 
Date: Tue, Nov 15, 2016 at 6:13 AM 
Subject: Fwd: 
To: Melanie Spinella <__________________________ 
Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for 
you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before 
him. what would you like me to tell Barry? ' 
There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work 
that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it 
again if you like ) . Brad wechsler was never up to the task. sorry, I realize I have been saying the very 
same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning 
there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was 
chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes i personally 
augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, 
He complained for over a year, re his direction by eileen and ada, and then brad. His breakdown was 
not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with 
john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you 
told him that he works for you and not for me and that brad needs to pays him . 
. Asking me who to hire , estate attny tax people etc.: 
I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up 
questions no interactions , not even one single question asked of me re her work. ( that was Eileen ) 
but somehow carlyns fuck up was my doing. . when i told you that i thought Eileen wasn't up to the 
task, you bellowed that i was talking out of both sides of my mouth. . You told me this year, that by 
trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his 
work. it then turns out that he didn't consider himself fired at all he just received less money. and 
continued to make a really dangerous mess.. Joshn castrucci, in your eyes, was also my doing , though 
email after email said, I take no responsibility for him, and iYOU SHOULD NOT HIRE HIM .!!! „ your 
response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan 
you told me he was gone. however he too is still there, and a waste of money and space. 
My time is complicated by Donald's potentially eviscerating any reason for anyone to use the 
foreign funds repatriation plan that i had put together. . however as you are aware I have some decisions 
to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit 
much time and make any future plans to guide you in the redoing of your procrastination produced 
mess. 
That being said, the tasks at hand are the following. 
You have a bomb of colored string that your retarded children have formed , It has to be very carefully 
unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It 
would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I 
HOUSE OVERSIGHT 023264 
am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to find and learn 
ACCURATE . org charts. books , balance sheets. trust valuations, are all a part. Barry will need 2 
months to just get his arm around what is there, this is before any needed modifications., 
a way overdue re- fresh of your estate plan . . clats , trust. partnerships. grats. llcs. bank accounts, 
filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how 
they fit into new plan. . """" planning art partnership engagement.. , airplane re-do. , buying 
another. . ? boat sale , Miami sale. . TRADING ACCOUNTS. . three years over due. . an 
accounting system. fire john.. joslin stays for a year. or so. so does tom and. except for heather 
everyone should be replaced with new. . Sell Artspace and shut down regan arts. . rationalize, cash 
flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take 
months to review now. . you CANNOT file unreviewed audited documents. . CANNOT!!! this will 
be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit. 
or contain it. . . you will need 3 new hires .a s there is no one in your office that is truly an A player. I 
have great hope in Barry as you know. He will need to be trained. note 
; One year is my guesstimate After 4 years of telling you , that you could do better than Halperin,: im 
glad that you now are willing to follow barrys advice . I take no offense, in fact I take comfort in the 
fact that after only one conversation with Barry you are now convinced to make that change . will take a 
year or more. 
I expect as a friend you will understand that 
I will no longer, not even for one day, work on your affairs . without the compensation that is long 
overdue. . your unilateral idea of after care , not imposed on any other professional, except me, not paul 
weiss ,( caesars alone, a direct screw up on their part ) tom, akin„ no one. needs to end. . you and I 
had previously agreed no more of that, and this after you decided not to pay me per our agreement. to be 
fair I can not say im surprised as you have email after email , stating that , if you save a great deal of 
money, you wont want to pay, so limit it to 40m per year. - water under the bridge 
If I can find the time to work, on your project , which is not by any means certain as I have said, I 
hope you understand that it now will have to be under my standard terms and conditions. and well 
documented so as to avoid any more of the he said she said. I never want to have any more 
uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as 
follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing 
an agreement. 5 million every 2 months thereafter for 6 months ie march may june . this can begin if i 
am able in January. I will immediately stop work, if the payment is not received. If you want me to 
work this year until Jan 15 , it will be 10 million, paid upfront. after one year you will be left with a 
new estate plan a running office. staffed with professionals overseen by Barry. ( hallelujah ) a tax plan . 
and an investment that returns more than any painting you could possible own. . no agreement - no 
work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as 
to what I should say. 
her the last two places. ? 
To: Melanie Spinella - 
Leon please read the attached proposed response to the IRS , see if you can understand it !!!. lye asked 
for a re-do. and given prelimiary directions to Alan to have it edited over the weekend 
. If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the 
outrageous incompetence in your family office.. Alans words "" but I was told that.., but I was told by 
the office (sic) that ... , BUT i was told by joslin,. , but I was told by. "" why is leon blaming me for .."" . 
HOUSE OVERSIGHT 023265 
I ye have always given you my best advice, If you reflect on your financial life, you have been kept safe, 
had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your 
office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional 
reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring 
the benefit of between 1.5 and 2b to the better. ) . and no explosions. You have email after email 
,where i remind you that I am not your bookkeeper or accountant ( in brads corporate speak his"" finance 
dept ??!!) that it should be redone .I have reviewed a multitude of the silly reports given to you and 
have pointed out the continued numerous inaccuracies. your question"" so what if the numbers are off, 
so what if the categories are off. whats the big deal??. I suggest you de risk you finances and make the 
tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are, Im 
afraid, certain to get an unhappy answer.. tom will be back from vacation, this week. 
----------Forwarded mess7,-
From: Halperin, Alan S 1_________________________> 
Date: Thu, Apr 28, 2016 at 5:16 PM 
Subject: Valuation Discount 
To: ""jeffrey E."" leevacation@gmail.com> 
I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the 
low end. Let's discuss the response and next steps. Thanks Alan 
Date: Tue, Feb 24, 2015 at 8:20 AM 
Subject: 
To: Melanie Spinella < > 
Leon, 
Yesterday , I again spent hours upon hours of my time with your office. ,( speak to brad to get 
flavor) and you and i will discuss the results in gory gruesome detail on Friday. it mirrored many other 
weeks spent doing the things that I don;t have the time to do. 
In order to keep things in perspective, maybe reviewing an analogy I have used before with you, 
might be helpful. You and your family are a 6 billion dollar corp. with an income between 250 -500 
million dollars per year. It contains a few operating biz's , a large wide array of existing investments, 
in various categories , a desire to enter into others. A panoply of loans, notes. purchases, wide range 
of all types of taxes. , planes. boats homes. . trusts ,grats. a crazy number of bank accts. ( with no 
oversight ) . law firms, acct firms, 800 page tax returns, foreign firms. art consultants. 
construction consultants bill payers, home mgmt.,vast multitude of llc's , including foreign, and with 
all that you only have a combined overhead of less that 3 million dollars. 
I have previously sent you the very same note that i have enclosed again below ,this time with 
highlights. I wrote it to you over a year ago. As my acute disability ( selective memory) seems to 
have been raised as one of your concerns , as a rule I try to memorialize things in writing in an 
attempt to lay out issues that I fear may later turn out to be a problem. ie what i would and wouldn't 
do, - my responsibilities. etc and those things that are not, below you will find details of things that I 
thought needed to be done, so that you wouldn't find yourself in the very place where you currently 
find yourself. however ,you chose to defer many of my suggestions- see below -,until only weeks ago. 
! you chose to defer the jpm acct. the art partnership on and on - into this year. and though the 60- 50 
HOUSE OVERSIGHT 023266 
40 timber emails all carried with it a clear warning that you needed to do something re personnel if it 
were to stabilize,- you chose to wait. 
ONE YEAR AGO 
Feb 17 2014 i wrote: 
With regard the more pressing issue I am uncertain of just how to proceed. I am tom, as my very 
strong inclination is not to be involved at all. It is extremely time consuming, delicate, fraught with 
many pitfall many that will make you very upset and a major pain in the ass. I wrote you months ago 
that the quality of the people involved need to be upgraded. ( lucky for me these last issues arose way 
before the beginning of my involvement ) I am also aware however of my overarching friendship 
obligations of ok, -given all the complexities who else can do it? problem. 
Your family office needs a daddy. children with good intentions are running around, sniping, 
nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take 
charge Everyone would report to him. Eileen included. He would however work for me. this is not, 
by a long shot my first choice as I prefer only being responsible and standing behind my own 
personal work ( ie the word DONE will no longer be transmitted to reflect status stated by others ) 
With no commitment on my part whatsoever, to do it. So far as I have failed in my attempt in 
trying to think through the problem creatively . My organizations handling of the more complex 
issues I believe you might find very costly, very! ( however many structures available some risk 
sharing, maybe risk caps ,etc ) but would require my teams doing the work , not yours. Ada should 
be only a trust, grat administrator, not sure what role you prefer for Eileen as you hired her initially to 
oversee investments. whether Rich your controller stays or not, is not urgent. having Tom report to a 
new person,- is. coordination with Suydam Kathy Gregory, I would suggest limiting to one person. 
The increasing public profile needs to be taken into consideration. 
TODAY 
With your acquiesence , Eileen did not report to Delson ( he acting as a conduit directly to me) , she 
continued to provide bad info to both you ( cash flows , stock accts, structures. sales Etc) and me. 
and each time with my many annoying calls to you made immediately afterwards that she was g.....y!! 
No one was hired to run YOUR office until two months ago , no one was even interviewed and even 
now , Brad, a very nice man, is not even full time,(crazy ) Hours upon hours of time need to be spent 
training him. and his new staff. Eileen followed your instructions, not mine, in fact she continued to 
ignore mine saying "" but Leon said "" or"" its on Leon's desk etc "" , You would become frustrated 
when i pointed out each instance, of her obfuscation. originally you were given the clear choice, but 
to save money ,you chose not to hire my team. I was hired to do the architecture, you kept your own 
team. with Eileen at the head. instructions were given by me„ detailed but ignored by her. ( except in 
the instances where I inserted myself and personally had to do the weeks of grunt work 
),ex. jpm morgan acct still not in use? That being said, If you do the cold calculation ,starting from 
where you were, to where you are currently . you have made a hell of a deal. -- negotiating down 
my original amount requested, calling upon our friendship and suggesting that the Carlyn mess was 
partially my fault. ( though in that specific example , I had never been asked to do more than merely 
provide you the name of the most highly recognized atty in the field, not consulted,nor even asked 
again for my guidance along the way. ). I accepted the discount as your friend. ( by the way 
„suggesting now, that your Tom is now that last word on tax characterization, frankly is a bit much,-). 
HOUSE OVERSIGHT 023267 
however - that is all in the past. 
In order to move forward 
I would ask that you realize that very unlike yours, My business is only comprised of my personal 
attention and my personal time . Time that I was forced to grossly overspend on your various issues 
last year. . As you are my very close friend I will not have you participate in a bidding process that I 
have decided i will have this year for my time. (hopefully a more fair way to allocate ) I would also 
ask that you keep in mind that though our deal expired months ago. (also keeping in mind , that your 
understanding of the final payment terms neither reflected the emails or my memory, we finished it up 
your way. ) I have answered every call Brad , joslin, Ada or you, have made . reviewed docs over and 
over/ until once again, I was forced to insert myself strongly as I thought it dangerous not to. I made 
serious dollar and time concessions last year.very serious I am wiling to continue to accommodate 
some of your concerns , but I am, under no circumstances , none, willing to spend my time for free. 
its not fair. After cleaning up Carlyn's mess , which was a few weeks and 30 million dollars . We 
were both highly aware of the dire circumstances in which you found yourself last year, and in fact due 
predominately to its seriousness, and those very circumstances I took extra care in our negotiations . 
(you had claimed I had you over a barrel , ( a horrible position to be in with my very close friend.), 
unfortunately I fear that if you are not cautious ,in the near future, another barrel will appear of your 
own design ) 
I heard you when you said you believed i had already been paid for the work that is now required. The 
art partnership has fully answered all your concerns and discharged all my obligations and more so. 
. ( FYI Carlyns art partnership that you referenced is similar in only its title. ) You will also recall 
that you required that my payments be at the end of my work not at the beginning as everyone else's.( 
my work was never to include hours upon hours of training your staff). I eventually agreed, this of 
course should make clear that the 2014 tax year that will close Oct 2015 is not covered by our past 
agreement at all. I pointed this very fact out to you when I initially proposed a multi year agreement 
right out of the box. you said you preferred not. As you said ,I have produced results to date, far in 
excess of even my own exalted opinion of my projections. I have devoted a monumental amount of my 
limited amount of time-- way, way in excess of our agreement. I will be fair, I am willing to roll in 
the amount still outstanding from last year if that helps .. However, As my best student , and my only 
one, you are now capable of doing most, if not all, of the required work yourself. I can put my 
whiteboard away when you come to eat and just have fun, trade stories,, share moments ideas etc. . I 
am of course always available to guide you as a friend if you choose that route. always. It will take a 
great deal of your time , but you will not have to spend any more money on mine. 
We are scheduled to meet fri at 430 , I leave at 5 am sat morning. 
Date: Tue, Feb 24, 2015 at 8:20 AM 
Subject: 
To: Melanie Spinella <__________________________1> 
Leon, 
Yesterday, I again spent hours upon hours of my time with your office. ,( speak to brad to get 
flavor) and you and i will discuss the results in gory gruesome detail on Friday. it mirrored many other 
weeks spent doing the things that I don;t have the time to do. 
In order to keep things in perspective, maybe reviewing an analogy I have used before with you, 
might be helpful. You and your family are a 6 billion dollar corp. with an income between 250 -500 
million dollars per year. It contains a few operating biz's , a large wide array of existing investments, 
HOUSE OVERSIGHT 023268 
in various categories , a desire to enter into others. A panoply of loans, notes. purchases, wide range 
of all types of taxes. , planes. boats homes. . trusts ,grats. a crazy number of bank accts. ( with no 
oversight ) . law firms, acct firms, 800 page tax returns, foreign firms. art consultants. 
construction consultants bill payers, home mgmt.,vast multitude ofllc's , including foreign, and with 
all that you only have a combined overhead of less that 3 million dollars. 
I have previously sent you the very same note that i have enclosed again below ,this time with 
highlights . I wrote it to you over a year ago. As my acute disability ( selective memory) seems to 
have been raised as one of your concerns , as a rule I try to memorialize things in writing in an 
attempt to lay out issues that I fear may later turn out to be a problem. ie what i would and wouldn't 
do , - my responsibilities. etc and those things that are not. below you will find details of things that I 
thought needed to be done, so that you wouldn't find yourself in the very place where you currently 
find yourself. however ,you chose to defer many of my suggestions- see below -,until only weeks ago. 
! you chose to defer the jpm acct. the art partnership on and on - into this year. and though the 60- 50 
40 timber emails all carried with it a clear warning that you needed to do something re personnel if it 
were to stabilize,- you chose to wait. 
ONE YEAR AGO 
Feb 17 2014 i wrote: 
With regard the more pressing issue I am uncertain of just how to proceed. I am torn, as my very 
strong inclination is not to be involved at all. It is extremely time consuming, delicate, fraught with 
many pitfall many that will make you very upset and a major pain in the ass. I wrote you months ago 
that the quality of the people involved need to be upgraded. ( lucky for me these last issues arose way 
before the beginning of my involvement ) I am also aware however of my overarching friendship 
obligations of ok, -given all the complexities who else can do it? problem. 
Your family office needs a daddy. children with good intentions are running around, sniping, 
nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take 
charge Everyone would report to him. Eileen included. He would however work for me. this is not, 
by a long shot my first choice as I prefer only being responsible and standing behind my own 
personal work ( ie the word DONE will no longer be transmitted to reflect status stated by others ) 
With no commitment on my part whatsoever, to do it. So far as I have failed in my attempt in 
trying to think through the problem creatively. My organizations handling of the more complex 
issues I believe you might find very costly, very! ( however many structures available some risk 
sharing, maybe risk caps ,etc ) but would require my teams doing the work , not yours. Ada should 
be only a trust, grat administrator, not sure what role you prefer for Eileen as you hired her initially to 
oversee investments. whether Rich your controller stays or not, is not urgent. having Tom report to a 
new person,- is. coordination with Suydam Kathy Gregory, I would suggest limiting to one person. 
The increasing public profile needs to be taken into consideration. 
TODAY 
With your acquiesence , Eileen did not report to Delson ( he acting as a conduit directly to me) , she 
continued to provide bad info to both you ( cash flows , stock accts, structures. sales Etc) and me. 
and each time with my many annoying calls to you made immediately afterwards that she was g.....y!! 
No one was hired to run YOUR office until two months ago , no one was even interviewed and even 
now , Brad, a very nice man, is not even full time,(crazy ) Hours upon hours of time need to be spent 
training him. and his new staff. Eileen followed your instructions, not mine, in fact she continued to 
ignore mine saying "" but Leon said "" or"" its on Leon's desk etc "" , You would become frustrated 
when i pointed out each instance, of her obfuscation. originally you were given the clear choice, but 
to save money ,you chose not to hire my team. I was hired to do the architecture, you kept your own 
HOUSE OVERSIGHT 023269 
team. with Eileen at the head. instructions were given by me„ detailed but ignored by her. ( except in 
the instances where I inserted myself and personally had to do the weeks of grunt work 
),ex. jpm morgan acct still not in use? That being said, If you do the cold calculation ,starting from 
where you were, to where you are currently . you have made a hell of a deal. -- negotiating down 
my original amount requested, calling upon our friendship and suggesting that the Carlyn mess was 
partially my fault. ( though in that specific example , I had never been asked to do more than merely 
provide you the name of the most highly recognized ally in the field, not consulted,nor even asked 
again for my guidance along the way. ). I accepted the discount as your friend. ( by the way 
„suggesting now, that your Tom is now that last word on tax characterization, frankly is a bit much,-). 
however - that is all in the past. 
In order to move forward 
I would ask that you realize that very unlike yours, My business is only comprised of my personal 
attention and my personal time . Time that I was forced to grossly overspend on your various issues 
last year. . As you are my very close friend I will not have you participate in a bidding process that I 
have decided i will have this year for my time. (hopefully a more fair way to allocate ) I would also 
ask that you keep in mind that though our deal expired months ago. (also keeping in mind , that your 
understanding of the final payment terms neither reflected the emails or my memory, we finished it up 
your way. ) I have answered every call Brad , joslin, Ada or you, have made . reviewed docs over and 
over/ until once again, I was forced to insert myself strongly as I thought it dangerous not to. I made 
serious dollar and time concessions last year.very serious I am wiling to continue to accommodate 
some of your concerns , but I am, under no circumstances , none, willing to spend my time for free. 
its not fair. After cleaning up Carlyn's mess , which was a few weeks and 30 million dollars . We 
were both highly aware of the dire circumstances in which you found yourself last year, and in fact due 
predominately to its seriousness, and those very circumstances I took extra care in our negotiations . 
(you had claimed I had you over a barrel , ( a horrible position to be in with my very close friend.), 
unfortunately I fear that if you are not cautious ,in the near future, another barrel will appear of your 
own design ) 
I heard you when you said you believed i had already been paid for the work that is now required. The 
art partnership has fully answered all your concerns and discharged all my obligations and more so. 
. ( FYI Carlyns art partnership that you referenced is similar in only its title. ) You will also recall 
that you required that my payments be at the end of my work not at the beginning as everyone else's.( 
my work was never to include hours upon hours of training your staff). I eventually agreed, this of 
course should make clear that the 2014 tax year that will close Oct 2015 is not covered by our past 
agreement at all. I pointed this very fact out to you when I initially proposed a multi year agreement 
right out of the box. you said you preferred not. As you said ,I have produced results to date, far in 
excess of even my own exalted opinion of my projections. I have devoted a monumental amount of my 
limited amount of time-- way, way in excess of our agreement. I will be fair, I am willing to roll in 
the amount still outstanding from last year if that helps .. However, As my best student , and my only 
one, you are now capable of doing most, if not all, of the required work yourself. I can put my 
whiteboard away when you come to eat and just have fun, trade stories,, share moments ideas etc. . I 
am of course always available to guide you as a friend if you choose that route . always. It will take a 
great deal of your time , but you will not have to spend any more money on mine. 
We are scheduled to meet fri at 430 , I leave at 5 am sat morning. 
Date: Mon, Apr 21, 2014 at 11:39 AM 
Subject: trying to bridge the gap. 
HOUSE OVERSIGHT 023270 
To: Melanie Spinella <________________________ 
you were at 30 30/ me at 60 40. . / proposal 50 /25 and in additon I would be allowed to recommend 
15 from directly from your own foundation. All payments to be made in addtion to currently owed. so 
$40 on april 25 , $30 june 15 ,and the alreadly owed $10 as planned on oct 15. I would direct the 15 
charity in the next 12 months, and the last 25 to be paid on conclusion. 
leon 
10 am - Arrival at White Plains / Westchester Airport 
FB0 and US customs is ""Jet Systems Aviation"" 
Adress: 85 Tower Road Hanger E, White Plains, NY, 10604 
Telephone ________________ 
Date: Wed, Mar 25, 2015 at 11:52 PM 
Subject: previously sent 
To: Melanie Spinella < 
I heard you when you said you believed i had already been paid for the work that is now required. The art 
partnership has fully answered all your concerns and discharged all my obligations and more so.. ( FYI 
Carlyns art partnership that you referenced is similar in only its title. ) You will also recall that you 
required that my payments be at the end of my work not at the beginning as everyone else's .( my work 
was never to include hours upon hours of training your staff). I eventually agreed, this of course 
should make clear that the 2014 tax year that will close Oct 2015 is not covered by our past 
agreement at all. I pointed this very fact out to you when I initially proposed a multi year agreement 
right out of the box. you said you preferred not. As you said ,I have produced results to date, far in 
excess of even my own exalted opinion of my projections. I have devoted a monumental amount of my 
limited amount of time-- way, way in excess of our agreement. I will be fair, I am willing to roll in 
the amount still outstanding from last year if that helps .. However, As my best student , and my only 
one, you are now capable of doing most, if not all, of the required work yourself. I can put my 
whiteboard away when you come to eat and just have fun, trade stories,, share moments ideas etc. . I 
am of course always available to guide you as a friend if you choose that route. always. It will take a 
great deal of your time , but you will not have to spend any more money on mine. We are 
scheduled to meet fri at 430 , I leave at 5 am sat morning.So there are no surprises 50m for the 
year. . or 30m for until 7/ 15. you can roll the balance for last year as a concession. half up front. no 
more all at the end. ive spoken to brad every day. more questions than answers. joslyn cannot be left 
unsupervised, his answers are knee jerk. eillenn told me this , that the other 
Date: Thu, Mar 26, 2015 at 12:07 AM 
Subject: 
To: Melanie Spinella ]_________________________________> 
you need to build an entire office from scratch. no question that was never my obigation, - systems, 
personel. finance tax, bookeeping„office. complinace. investment. monitoring, banking loans coming 
due, review. gs jpm gs, . . plane boat houses construction, new will,. phaidon sale. you are no further 
HOUSE OVERSIGHT 023271 
ahead today than my nov memo layed out = no real candidates. etc.. Ill redo the art partnership under 
new restrictions of course at no charge, and review the work done by tom/ joslin. 
joslin you and I should sit. you won't like it. AT ALL> he is afraid of telling you the story, as he belives 
brad is your guy and does not want to get fired. ada still refusing to share income tax opinions based 
on privilege , not under control at all. ? ? joslin said that murphy is not the cfo, as you told me but the 
coo. and the cfo is the same guy that reported to andrew, mistakes after mistakes not picked up by 
murphy who joslin described as a kind buffoon . he suggested a new ceo or coo who can make 
decisions. someone with some financail experience, he asked for a chief decision maker 50 for year roll 
in money owed. 30 till july, most up front needed 
Date: Tue, Mar 31, 2015 at 3:25 PM 
Subject: 
To: Melanie Spinella < 
Nov of 13 : I told you tom Eileen and Ralph were not up to the job, you disagreed very vocally and 
strongly, "" Ralph wrote the book, Tom has been doing it for 15 years and Eileen ran the trading desk at 
Morgan Stanley. "" Ada who had been working on all your documents for years while at the bank had 
been brought in- house but created more issues that didn't exist. and phaidon was its own animal 
Dec 13. you were again annoyed that i said that they needed to be replaced and said ""i was talking out of 
both sides of my mouth."" first time ( email available) 
Jan 14, you decided that no third year was necessary for my help. and i told you i thought that unwise 
and even suggested giving you an option at 40 m so there would be no tension 
Mar 14, I told you that to do the job right, my team would need to do it. not yours it would not be 
inexpensive, but it would get done properly, you chose not to do itand said lets wait and see 
April 14. We agreed to clean up various past mess.with the end of my work OCT 15th only then 
would i get paid.. urged JPM ( first of 14 reminders) 
GS and db accounts to be set up in order to bring your financial structure into the 21 century 
July 26 , I came to bens party, said new people needed to be hired, keep Eileen till end of year, and Ada 
till march, you suggested getting ada out earlier 
oct structured the art partnership , but you wanted to wait until you fully understood ramifications formed 
the doc in dec to have it in 14, 
nov/ dec 14 I told you I considered my work complete separate from art partnership. gave list of things to 
do. 
three months of you and your high school friend, trying to build a house with little of the relenavt 
experience, its silly . still no accurate numbers accounting , charts, etc 
jan 15, I told you joslin cannot hire people, has not so for more than 5 years, former job in a public 
accounting firm. 
april 15. no senior accountant even in the wings. joslin talking about reaching out to hire the only 
person he knew( worked in the past with dagazsitno ) and i interviewed 15 months ago. and rejected. 
HOUSE OVERSIGHT 023272 
low level. He does not want to hire himself out of a job, spoke to brad last night he wants a coo so 
that he does not feel demoted 
your choice!, ( brad maybe does have insight - to your credit, might have been right when he said- jeffrey 
you should realize this is only about leon not wanting to pay more money, ( i ignored his summary, 
along with his comments on the risk of fracturing 
summary 
I can either do it for you or not. if i do it it means finding hiring organizeing, structuring reviewing re 
negotiating, bring in my team under my control not brads. . stop -gap accounting - my people getting the 
books software and procedure in shape. setting up the various brokerage and bank accounts and 
rationalizing them, organizing Melanie, TPS , house, and all the intra family notes outstanding, 
overseeing the phaidon mess.maybe sale re do some of estate given the new circumstances. etc. I 'ye 
responded to every brad question , given him first lessons, not a good use of my time or his. he should 
administrate, follow up, have signing authority instead of eileen, ( AFTER rationalized accounts ). 
holding a position of trust. ONLY 
talk whenever you like, NO STRESS, Mort had a skiing accident and sultan not fully comp es mentes. 
no stress please for either of us . both of our reserves which are not insubstantial, can use a break 
Date: Tue, Apr 7, 2015 at 4:29 PM 
Subject: 
To: Melanie Spinella < 
agenda for tomorrow. 
1 building an office from scratch. who does it. ? so far little or no progress in real terms. . brad 
should remain and can administrate, follow up methodically, . has no idea of corrrect questions to ask. 
or understanding of family office issues. procedures checlks and balances. etc .. consultants , diana 
goldner foundtaion woman? office . focus. 
2. without strong , very stroung direction, joslin will not make it. does not know where to focus. who 
to respond to. and how. unfortunately now getting more and more answers like the powers that be , want 
it that way.?? 
3. the priority list is still virtually the same, since dec. . accounting system. redone from scratch. etc. 
4 . it will take 9 months. at a minimum now. . an outsider brought in when everything is clean, including 
phaidon, notes. eileen. banks, jpm db, bam, etc. 
5 disposition, of Phaidon. art space regan etc.( ressler??) sale of boat. plane. art, stock, investments, 
athene? etc, tra, brh. 
6 . new IT . complex. household. payroll insurance . recurring bills. 
7 estate modification given new circunstances and altered probablities. ( use etc ) 
8 charity, new trusts,!!d IPI< harvard. fees, 
I spoke to brad and made him aware of all my concerns and propsals to move forward. he is desperate 
for help 
Date: Tue, Apr 14, 2015 at 11:53 PM 
Subject: 
To: Melanie Spinella < 
saved you 500k at the last minute, . brad has had the same chart since march 16th, its his job to review 
NOT MINE .appears he is one of those living in the dark leiwe. I found 8 million dollars today, missed 
deductions. . not yet in the numbers,.? 
HOUSE OVERSIGHT 023273 
Date: Tue, Apr 21, 2015 at 1:10 PM 
Subject: 
To: Melanie Spinella <___________________________t> 
emblematic of my frustration and ,in the end what I believe is a waste of our time energy money and 
resources. is the very simple question of bidco bank accounts. 4 months ago I asked the question, does 
it have a bank account and if so , who has authority, where is it located and what transacations ran 
through it. it is only one question out of hundreds that need to be answered. hundreds. . you asked that i 
not behave like Zeus and try to explain why I want need certain things. since i said to placate Brad's 
inquisitive ness and his desire to learn I said a filing might be required. instead of merely getting me the 
answer. he has talked to joslin paul weiss , you, you wanted to ask brad karp. ( maybe a filing that 
reopened things, ) 
none of this as a practical matter has any influence upon the ultimate action taken . I merely needed to 
know a simple answer. and today after asking at least every week since then do not have an answer. I 
have been trying not to add stress to your day. i try to explain things and take the time to do so gently, ( 
not my forte . this is one question out of hundreds. the fact that a 21 year old was in the office only 
xeroxing for a month, was obvious to everyone in the office. having a 26 year old xeroxing instead doesnt 
move us forward, answers first. copying old files. can wait. 
Date: Wed, Apr 22, 2015 at 1:56 PM 
Subject: another flowery email.  
To: Melanie Spinella <_______________________ 
I am sorry. I realize you are under tremendous stress, In Bedford you asked me for my help I could not 
have been more clear that thought it very unwise as in my words I did not want any financial arrangment 
between us, it risked conflict and tension what neither of us needed more of. and did not want to risk 
torturing our friendship into the likes of the kind you have with Mark nor Josh, : now,- I dont have 
anyone but you yelling at me, in my own house. no one. it is highly unpleasant but I am trying my best to 
be understanding. sorry. From the outset and as you told me you recall. i tsuggested that three years 
should be the period of engagment. as planning is not a one year excericse . you declined to commit to a 
number of alternatives presented to you for payment of the third year. I told you in nov that you should 
decide whether to now sign on for that very third year as the vast majority of my work ended on oct 15. 
you recently told me you thought i was kidding. .you hired brad patting him on the back that after months 
of inquiry he can now, finallly tell you which 11c owns the cars?? 
once he has all the facts what next ??. whether or not you refer to a portion of the third year as after 
care, or whatever term besides 'scoundrel you choose to use, I m not sure why you assume now it should 
be free.( I HATE THIS CONVERSATION < HATE, ) and i heard you when you said you told me what 
was 1 work still to be done you thought valuable enough to pay for. please tell me. and then we can 
decide the next steps „, if any. I consider my work rarefied art. I guess the value is in the eye of the 
beholder . IT reminds me of those people looking at a modern art piece and saying "" my child could do 
that"" . hope you are feeling better. 
Date: Fri, May 1, 2015 at 12:50 AM 
Subject: 
To: Melanie Spinella <________________ 
ada and brad are respondbile for the loan,. docs, at a minimum, leon he hasn't read the financial 
statements SINCE DEC. !!. impossible ,had he done so the silly numbers jump off the page . ( sent in 
another email ). it is a financial office., 190 million sitting unused in CASH , budget and planning person 
HOUSE OVERSIGHT 023274 
for what , its not a publice co. ? townhouse construciton , household operations, boat, plane, taxes, we 
went through this with the cash flow, you and i know approx how much each will cost. its a week job not 
a fulll time one- ada has no lien copies. none. ?! impossible not to know, ask, quesiton? two senior 
accountants CPA s. not the 75k girl that they hired, . IT professional backed by a firm. high quality,can 
we tap apollo resources? new lawyer , heather level . new receptionist, and bookeeper. get rid of ava. 
next could be new office ,new furniture „ the whole place reeks of cheap. IT IS MAY< I have not 
been asked to interview one person to date. not one. having cpas in there tomrrow woudl go a long 
way. i dont understand the time line, coo first. ? in by july?? cpas in by sept. tax return due oct 15. ? 
Date: Fri, May 1, 2015 at 2:36 PM 
Subject: 
To: Melanie Spinella < 
I know that both you and I heard brads'. im out of here if i dont get a coo. . sorry,. i know that neither of 
us have stood in the way of his finding/ gettting one.. JPM account DB account GS account, ??? its 
MAY 1. nothing in the first quarter and these are only papers that need signing. 
I suggest your thinking on my role and compensation for my work might benefit, from a mental shift - 
think mark and josh, without the mutual resentment ( HAHA) only in terms of sharing ,thanks, I am and 
have been your financial partner i.. rectifying circumstances that appear in hind sight unexplainable. I 
wish you woudl have asked me earllier to review your things , but i understand. I do know that soley as a 
result of my actions your personal bottom line has increased dramatically, if you had thought of me as 
your partner in this endeavor , instead of an employee, i think your reaction to sharing t benefits would be 
different. 
If you recall, you wanted me to be paid , unlike others at the END of my work. we discussed this ad 
nauseum, and agreed OCT 15, last year was the end. You had wanted more comfort initially on the art 
partnership so that date was delayed. It has now been six monhts since then, your concept of aftercare. 
. for free. was already unique, in your words this has to have an end.( weaned ) if the actions of josh 
and mark led to one hundred million dollars , what would be their share. Im not sure why it is different 
in your mind, but i respect the fact that it is, Is it because their work seems harder. it cannot be simply 
because they devote more time to you .or it appears to involve more effort. I am happy to continue to 
play a partnership role. as I have been in many areas of your life. . I am also happy to move on and have 
no more of these emails. I find them as tedious as you do. if you prefer a partnership structure, ok with 
me, I tried to minimize the amount of money i would recieve by making it a flat fee. as i wanted you to 
feel good and have no second thoguths somehow if the payment comes from a partnership structure you 
seem relaxed as opposed to writing a check, I focus on trust and friendship first, and the fact that you 
don't include josh and mark in that category, gives me great pause . I proposed 33 percent of money 
made for you. . in the past you agreed that amount. it will be huge, but ok with me, I can talk today at 
945 as you suggested. or if you woudl rather over the weekend ok 
Date: Fri, May 1, 2015 at 7:08 PM 
Subject: Fwd: Picasso agreement - question 
To: Melanie Spinella __________________________________ 
silly 
Date: Fri, May 1, 2015 at 12:27 PM 
Subject: Picasso agreement - question 
To: Brad Wechsler < 
eevacation@gmail. com> 
>, ""Jeffrey Epstein (jeevacation@gmail.corn)"" 
HOUSE OVERSIGHT 023275 
Brad and Jeffrey, 
Gagosian has one final change to the Picasso agreement. As you know, we have structured this 
agreement with the Buyer as either Narrows Holdings LLC or AP Narrows LP, and given both of those 
entities the right to assign the agreement to any one among Leon, Debra, the kids, or family trusts 
including AP01 and AP02. 
Gagosian wants us to agree that, if Narrows/AP Narrows assigns the agreement to someone else, 
Narrows/AP Narrows ""shall not be discharged from its liabilities under this Agreement and 
shall remain primarily liable to Seller."" Larry is concerned that we might assign to the 
Black kids or to a trust that has no assets, and then when he has to sue us because we 
don't make the final payment of the purchase price but have possession of the art, the 
entity/person to which we have assigned the agreement has no money. 
I think this is a valid concern and that we should agree to it. 
However, Ada just reminded me that it is possible that Narrows/AP Narrows (really, 
Leon's) agreeing to effectively guarantee payment by the assignee might be considered 
a gift to the assignee. In the discussions with Alan about rearranging the bank loan once AP 
Narrows is operational, Alan agreed that there could be deemed to be a potential gift from Leon to 
AP01/AP02 if Leon provides a guarantee to the bank that is for the benefit of the trusts as partners in AP 
Narrows. Alan suggested mitigating this risk by having the trusts sign side agreements with Leon which 
say that if AP Narrows defaults on the loan and the bank goes after Leon on his guarantee, the trusts will 
make him whole. 
This issue only arises if we assign the agreement. The risk is also limited in time because it would run 
from the moment we assigned the agreement until the final payment is made, which even if we assigned 
immediately after signing, would only be 11 1/2 months. 
Shall I agree to Gagosian's request that Narrows/AP Narrows remain liable even if they assign the 
agreement? 
I'm in the office if you would like to discuss this, but I would love to get back to Gagosian ASAP so we 
can have this agreement signed today. 
Thanks, 
Heather 
Date: Mon, May 11, 2015 at 3:08 PM 
Subject: 
To: Brad Wechsler < , Melanie Spinella < >, Ada Clapp 
, Richard Joslin 
lets look at funding the art partnership begin with 100 m of unencumbered art. plus 20 inveestment. and 
the same amoiunt of value from trust. leon should choose b trustee and begin to use mechanics. . later 
we can amend and add. 
HOUSE OVERSIGHT 023276 
2 hire an IT person asap 
3.1 would hire jerry the woman. gittis. person 
4 .I will find a subpart k person to handle partnership acct 
5 , accounting software upgrade, onlilne banking needs to be seamless 
6. not sure status of bringing plane boat acct inhouse? 
7 prepare fbar report for june. draft next week 
8 pahidon actuals vs projections. . new valuation 
9. new valuation of tra contract? 
jpm db goldman sachs acct? new llc? 
review of dec 31 books for all entities? bfp . etc 
Date: Wed, May 13, 2015 at 3:04 PM 
Subject: Fwd: jobs ahead 
To: Melanie Spinella 
the list that we discussed.. i spent time with brad again. re the candidates . filling due, this week, next 
month,. 
Date: Sun, Dec 28, 2014 at 5:18 AM 
Subject: jobs ahead 
To: Brad Wechsler 
>, Melanie Spinella >, Ada Clapp 
1. review accounting system. Book keeping softaware. staff, ( senior accountant ) methods on line 
banking, brokerage. cash mgmt. airplane reimbursement. boat sale. art purchases sales use and sales tax. 
tax filings FBAR FATCA, gaming commsion, pfics, insurance . uk co law. 
2. review docs for TRA BRH grats, trusts, heritage will, insurance, art lending. medical, springing 
powers. two fire drill books. one needed for injury, other for death 
3 review bills. boats , planes, legal, ( PW, McFarlands all outside. legal and accounting. Toms bills 
over 400k. house projects. south ny ben 
4 cashflow projections tax projections , interaction with Apollo accounting tax, Phaidon ,art space ,and 
Regan. legal accounting. audit 
5. children meetings, review to date and allocations 
6 review all role in payables. files scanned, no paper 
7 review invesmtents for tax basis and unrecognized gain 
8 schedule of all hedge funds . redeemables commitments etc. 
9 charities pledges strucutre, staff, 
Date: Mon, May 18, 2015 at 2:17 PM 
Subject: agenda for tomorrrow 
To: Jeffrey Epstein leevacation@gmail.com>, Melanie Spinella <! 
as a reflection on your voiced spirited concerns in the what have you done for me lately category ? )):: 
. in the beginning . there was eileen and tom. ( eve and adam,-- however it appears, she declined to 
eat the apple from the knowledge tree) 
. that was it. ada was at the bank but reviewing docs. carlyn was in the kitchen making mush ( abel and 
cain) 
HOUSE OVERSIGHT 023277 
books as they were mystersiously called was being kept soley by eileen, with little or no input ,correction 
or advice from tom. herarely if ever asked questions. expenses ie airplane was done in house apollo. 
(1031 exchange blown etc) at this time 
as I recall you got quite annoyed, and agressive and initiated the"" talking out of the both sides of your 
mouth "" tiddy, when i suggested that the level of their competence left much to be desired. ( ralph lerner's 
came later ) .response - eileen ran the desk, tom is a partner, ralph wrote the book etc 
re tax there was almost no oversight of income, estate, gift ,sales and use, transfer excise etc . IRS 
SEC GAMING NYS. real estate, valuations ( many )tax filings- disclosures, etc. re grats trusts defect 
trusts, llcs corps , trustees , partnerships. foreign corps. 100 bank accounts. gift taxes„ loans, notes. 
payables. expenses. . , insurance.( life, art, split dollar), cashflows, operating biz„ investments, 
contingent liabilitiites.( funds , miami ) , commitments dividends, BRH TRA, shareholder agreements, 
bank loan agreements. wills, construction„ contracts planning permits etc. .employ rules. checking 
account reconciliations, crediti cards. jewelry, cost basis ,( art stock etc.) foundations regs , brokerage 
accts, old stock certificates. stock options,( environmental solutions still not done !). estate tax 
calcualtion firedrill, ( note ,basis etc ) low basis, step ups , however with no accounting system, no 
reveiw of boat expenses plane expenses etc. . many outside counsel with litle or no coordination. 
Paul Weisss , Mcdermit Will, Macfarlanes. Price Waterhouse, Reich, withers bergman, Empire„ akin 
gump, bbd seidman, Wendy, Apollo in house. 
lumber, knowledge universe, ennvironmental, solutions 12 mu i in stock, . on and on 
the priority list that you asked me to prepare for brad and you in dec , unfortunatlleyso far, little change 
ie no accounting system that ties, no, brokerage accounts though strongly suggested, jpm db, gs, april 
of 2014 . IT antiquated 
dagastino hired , no inut from me, julie, temps, paralegals miriam. etc. 
still need new accounting system - on line banking staff hires. ( seprate from samantha two years out of 
school ). audit system, . ?? john murphy? joslin? dag? eva?. i strongly suggest workers at the highest 
level of competence. two senior accountants. not managers workers who will get into the weeds. partn 
expertise„ replace ava, get heather help. a new person legal , new IT,system and person, way way 
overdue, new receptionist, bill opener, ability to oeversee 
in house, boat plane review household ( 12million ) review, filings- partnerhip accounting,- familitarity 
with grats, trusts etc . audit system put in place. that should be the easy part. then strategy to deal with : 
As new facts on the ground develop , phaidon debra, children meeetings, ? stock sale sale of art„ apt( 
large gain ), 1031 trade in , plane depreciation, boat sale. construction, brad will oversee brokerage and 
investment, ?? pe. real es, . publishing, grats, tra, brh ( death). foundation , museum, tax proejctions cash 
flow projections, cooridnation with tax from apollo. etc 
Date: Fri, May 29, 2015 at 2:53 AM 
Subject: ulysses 2.0 
To: Melanie Spinella < 
I realize it is only due to a lack of understanind of the job ahead. and not out of any sense of 
unwillingess to pay 
- as opposed to merely hiring people to set up a family office, someone will have to do the following-
separate from the art partnership which is my responsiblity. there still needs to be a huge amount of 
work done for 2015,16. not to mention that brad at the moment is going to have train the incoming 
team?? your call 
strategic decisions re estate and other planning , sale of phaidon etc. . in addition setting up for the 
accounting for each strategy ie.: 
HOUSE OVERSIGHT 023278 
income, estate, gift ,sales and use, transfer excise picasso, 1031 calder. . review and detailed oversite 
of IRS SEC GAMING NYS. real estate, entity valuations ( many ) tax filings- disclosures, follow 
up of grats, trusts ,defective trusts, llcs corps , trustees , partnerships. foreign corps. 100 bank 
account need to be rationalized, not only having brad step in to children investments. gift taxes, trust 
, loans, notes. payables. expenses allocations. . , insurance.( life, art, split dollar), cashflows, 
operating biz„ investments, contingent liabilitiites.( funds , miami ) , commitments funds and charities 
, dividend treatment -important review of transcations relating to BRH ( amendments) TRA sale ( 
nuanced ) , shareholder agreements, bank loan agreements new bank relationships. . wills, 
construction accounting and oversite , contracts planning permits etc.. employee rules, regs,. 
checking account reconciliations, crediti cards. jewelry, cost basis ,( art stock etc.) foundations regs 
, brokerage accts,. stock options,( ie environmental solutions still not done !). estate tax calcualtion 
firedrill, ( note ,basis etc ) review of boat expenses plane expenses, depreciation issues refunds etc. . 
rationalize all outside counsels and accounting firms 
Paul Weisss , Mcdermit Will, Macfarlanes. Price Waterhouse , Reich, withers bergman, Empire„ 
akin gump, bbd seidman„ Apollo in house counsel. 
set up and oversee brokerage accounts at JPM DB GS and thoughfullly trade 
. new IT system from top to bottom full time IT person 
new accounting system - on- line banking cooridnated with reports . fire drills as per caruci ( he 
sounds good ) and. audit system,s . review of john murphy? joslin? dag? eva?. 
in house, review household ( 12million ) review, filings- partnerhip accounting,- familitarity with 
grats, trusts etc . audit system put in place. that should be the easy part. then strategy re: 
As new facts on the ground develop, phaidon debra, children meeetings, involvment , trustees 
adjusted, stock sale sale of art„ apt( large gain ), 1031 trade in , plane depreciation, boat sale. 
construction, brad will oversee brokerage and investment, ?? pe?. real estate?, . publishing, 
grats, tra, brh ( death). foundation, museum, tax proejctions cash flow projections, cooridnation with 
tax from apollo. etc 
you are sitting on over 100 m of cash???!! 
Subject: Re: we're calling the sales tax guy at 6:30 pm - I'll come to your office 
To: Richard Joslin <_______________________ Brad Wechsler < 
>, Heather Gray 
<11X> 
sorry but this is emblematic of the silliness that appears to continue. ..... 1. How can we ask for a legal 
opinion when it is crystal clear that we don't yet have accurate facts or numbers , f. 2 Invoices have not 
been reviewed! corporate structure is convoluted and unexplored in detail. ( was the boat captain on the 
call?) 3 Paul weiss is the attny, and should be charged with getting us info. . 4. Bringing in yet another 
outside lawyer without full vetting and consideration, a waste of time energy and money. . 5. ex. what is 
the location of charters shown on the invoice? do you know. . ? if th invoices are incorrect, does that 
give us any comfort in trying to defend an audit.. I saw three invoices only, and each had a different 
owner or address . . 
Date: Mon, May 18, 2015 at 8:17 AM 
Subject: agenda for tomorrrow 
To: Jeffrey Epstein <jeevacation@gmail.com>, Melanie Spinella <!_____________________________ 
as a reflection on your voiced spirited concerns in the what have you done for me lately category ? )):: 
. in the beginning . there was eileen and tom. ( eve and adam,-- however it appears, she declined to 
eat the apple from the knowledge tree) 
HOUSE OVERSIGHT 023279 
. that was it. ada was at the bank but reviewing docs. carlyn was in the kitchen making mush ( abel and 
cain) 
books as they were mystersiously called was being kept soley by eileen, with little or no input ,correction 
or advice from torn. herarely if ever asked questions. expenses ie airplane was done in house apollo. 
(1031 exchange blown etc) at this time 
as I recall you got quite annoyed, and agressive and initiated the"" talking out of the both sides of your 
mouth "" tiddy, when i suggested that the level of their competence left much to be desired. ( ralph lerner's 
came later ) .response - eileen ran the desk, tom is a partner, ralph wrote the book etc 
re tax there was almost no oversight of income, estate, gift ,sales and use, transfer excise etc . IRS 
SEC GAMING NYS. real estate, valuations ( many )tax filings- disclosures, etc. re grats trusts defect 
trusts, llcs corps , trustees , partnerships. foreign corps. 100 bank accounts. gift taxes„ loans, notes. 
payables. expenses. . , insurance.( life, art, split dollar), cashflows, operating biz„ investments, 
contingent liabilitiites.( funds , miami ) , commitments dividends, BRH TRA, shareholder agreements, 
bank loan agreements. wills, construction„ contracts planning permits etc. .employ rules. checking 
account reconciliations, crediti cards. jewelry, cost basis ,( art stock etc.) foundations regs , brokerage 
accts, old stock certificates. stock options,( environmental solutions still not done !). estate tax 
calcualtion firedrill, ( note ,basis etc ) low basis, step ups , however with no accounting system, no 
reveiw of boat expenses plane expenses etc. . many outside counsel with litle or no coordination. 
Paul Weisss , Mcdermit Will, Macfarlanes. Price Waterhouse , Reich, withers bergman, Empire„ akin 
gump, bbd seidman, Wendy, Apollo in house. 
lumber, knowledge universe, ennvironmental, solutions 12 mu i in stock, . on and on 
the priority list that you asked me to prepare for brad and you in dec , unfortunatlleyso far, little change 
ie no accounting system that ties, no, brokerage accounts though strongly suggested, jpm db, gs, april 
of 2014 . IT antiquated 
dagastino hired , no inut from me, julie, temps, paralegals miriam. etc. 
still need new accounting system - on line banking . staff hires. ( seprate from samantha two years out of 
school ). audit system, . ?? john murphy? joslin? dag? eva?. i strongly suggest workers at the highest 
level of competence. two senior accountants. not managers workers who will get into the weeds. partn 
expertise„ replace ava, get heather help. a new person legal , new IT,system and person, way way 
overdue, new receptionist, bill opener, ability to oeversee 
in house, boat plane review household ( 12million ) review, filings- partnerhip accounting,- familitarity 
with grats, trusts etc . audit system put in place. that should be the easy part. then strategy to deal with : 
As new facts on the ground develop, phaidon debra, children meeetings, ? stock sale sale of art„ apt( 
large gain ), 1031 trade in, plane depreciation, boat sale. construction, brad will oversee brokerage and 
investment, ?? pe. real es, . publishing, grats, tra, brh ( death). foundation , museum, tax proejctions cash 
flow projections, cooridnation with tax from apollo. etc 
Date: Tue, Jun 30, 2015 at 12:23 PM 
Subject: 
To: Melanie Spinella 
1.I believe I have heard you, but i wanted to make certain that I have understood 
Though after much discussion ,- much! you were adamant that i receive my fee only at the very END of 
my work, oct 15 , this was a long discussion but you felt very strongly at the time . you now feel that as it 
was a very large sum of money . some of my time this year should be spent on your recent concept of 
""after care "". - and that after care should be for free . I have continued to pay others as well. 
I have asked and you have previously said you would lay out for me what you thought was encompassed 
by the concept. that was end of january Training brad?? who was your choice . not mine ,by a long 
shot. only brought on in january? ? hundreds of hours spent . eileen debrief? 2. boat. plane household 
HOUSE OVERSIGHT 023280 
ex[penses. personal review?, trying to create accurate ledgers of capital expenses. so to minimize future 
gain.? 3. phaidon - review from head to toe? though we agreed many times in the past this was not my 
responsbility, 4. overseeing the opening of trading accts. proposed and sent over first docs in april of 
14. .5. art partnership.? we agreed though the draft was sent in sept14 . and still not done though 
little different from first draft. . 6 picasso contract? 7 art sale 1031 8 airplane review? 9. IT system 
implementation. ? tra brh sec gaming comm, foerign filing , tax, disclosure. fondation returns. ? 
planning for 16? not sure . 10. insurane review with josh? stock sale prep. ? filing ? 
I am available by phone. you mentioned my travel schedule ----last yea,r I canceled three European trips 
and two to seatle , none to my benefit. 
I have been consistant , I dont have any new proposal, do you ? though i am"" complicated"" , I have no 
intention of trying to convince you of value, its silly, 
000000000000000000 i think if I have correctly deciphered your sophisticated code - 
should represent -drool 
Date: Tue, Mar 3, 2015 at 5:18 AM 
Subject: Fwd: 
To: Melanie Spinella _________________________________ 
lets set a time to speak today if possible. 30 minutes or so. my schedule is tight 
From: jeffrey E. leevacation@gmail.com> 
Date: Mon, Sep 21, 2015 at 6:36 PM 
Subject: agenda for today 5 um?  
To: Melanie Spinella < >, Brad S Karp < 
1. put someone on asap to ascertain if she is still in london. 2. set up conference will uk criminal and uk 
counsel. a give them more facts. 3. choose method of message delivery, my choice. - two highly 
respected former ---- fill in the blank, immigration, scotland yard. sfo. . who may knock on her door 
and present the terms. 4 if not. an alternative method. 5. Is it possible to find out if she has gone to 
authorities? tabloid lawyer. 6. have the same types of individuals availble in new york if she decides to 
return as stated.. i prefer former fbi, or immigration one man one woman. . 7 from opening a DA 
investigation to arrest. how long? 8 , can we open a file in either jurisdiction, and maintain 
confidentiality. 
Date: Mon, Sep 21, 2015 at 6:48 PM 
Subject: Re: agenda for today 5 pm? 
To: Melanie Spinella 
Cc: Brad S Karp 
I think that Melanie should set up a separate email account for this correspondence. she currently is on 
an apollo server. 
There is not even a good solution. all have substantial risks, we are dealing with a wholly unpredictable 
and bad minded person. I and Brad can only make suggestions/actions each less than stellar. - that being 
said we should do our best to have all the facts. options etc. and to distinguish fact from opionion As 
the consequences of any decision is likely to have some very bad parts , Leon needs to be cognizant of as 
much as the downside as we can adequately foresee. 
Date: Wed, Sep 23, 2015 at 12:07 AM 
Subject: Fwd: 
To: Melanie Spinella < 
jan 2 of this year 
Date: Fri, Jan 2, 2015 at 2:55 PM 
HOUSE OVERSIGHT 023281 
Subject: 
To: Melanie Spinella ___________________________ 
Leon, I decided last week that there was little or no upside in disturbing your well earned holiday 
especiaily as you seemed so peaceful happy and smiley ,getting yourself in shape and truly enjoying your 
family time. etc. however the situation in your family office is unresolved. I am aware that brad starts 
monday howver, two last days of the year madness. timber.deal not complete no jpm,acct activity no 
partnership docs, old stock sales not complete , no bank doc redo. no phaidon note restructure, ., no 
boat expense review, airplane same ,topco midco.etc still not finished ( trustee ) , projections mixed 
with fiction. , legal exp out of control. no care for admin, silly ( audit). tom conversation with joslin. 
notes. debra, trustee notes. trustees hiring. bens audit. interest payable made hoopjumping last day of 
year. after weeks and months. of lectures , gifts to discuss- staff. -houseproject mgmt. . I will continue 
to try, I had offered ajoint call with eileen before you left. as i said before , joslin takes instructions from 
eileen. he said it was made clear to him that he doesn't work for me but works for you. . I tried. 
Date: Tue, Sep 29, 2015 at 8:39 PM 
Subject: 
To: Melanie Spinella < 
jeffrey 
Brad Wechsler is asking if you could meet for a half hour with him and Rich Joslin to discuss Use Tax 
Refund. Below are available dates/times...below that is your schedule. OK for me to schedule in?: 
NO sorry not until i hear from leon 
leon. to be fair, I had sent the first note to you one year ago . stating that my work would come to an 
end on oct 15. that day had meaning as everything would be closed, you asked that i continue to help 
brad. as of nov though he would officially start in jan. I said ok, but..... "" you told me to continue as we 
would work something out"" I told you my fee then was 40. feb you came with ben while kathy ruemmler 
was here. and said next week, debra got bad news. and I quickly prioritzed not adding stress to your 
situation. I wont regurgitate the interim, though millions of dollars were saved since. millions. . it is now 
one year later and you propose 10 mlllion , plus a contingent fee . I have said that i would work with 
you, and if contingent and a percentage of something. I strongly believe that is not in your interest. I 
continue to put our friendship first and dont want you to write a check for over 100million andthe i will 
have to listen to lewie for the next few years. but if you prefer over my objection a percentage deal then it 
should be of all savings not just phaidon. ( a random concept) . The idea that i am somehow even 
marginally responsible for neither you nor heather, ever telling me that there was an unresolved issue, 
though you said you had been pinged a number of times is emblematic. 
I can do a call with you and Karp. anytime you like today, but i can assure you 100 percent that there is 
no light between our positions. ZERO. and he is ready to do his best to try to explain it to you. 
Date: Thu, Oct 1, 2015 at 11:03 PM 
Subject: Fwd: 
To: Melanie Spinella < 
to refresh your recollection, as 4 states. 40 a year for three years. as i said today. . the other was in 
addtion as you recall. 
Date: Thu, Apr 11, 2013 at 4:02 PM 
Subject: 
To: Melanie Spinella <__________________________________ 
1. 80 percent of contracted job is accomplished, now drafting ,signing and few critical decisions on your 
part still await , will fill in nec blanks, 1, how much of upside to kids. , 2, protections . 3 allocations. 4. 
charitiable, inventory, securities, 
HOUSE OVERSIGHT 023282 
2 .to engage the second phase if you so choose , and considering there is only 8 more to be paid this 
year in oct, for the job now almost completed, total of 23. that was agreed only for history fix. 
3. with the necessary proprietary protections , proposal is for first year only an additional 17 . making it 40 
, but full year balance on signing , ie 25. takes care of 2013 
4, moving forward, 40 per year ,( approx 1 percent ) for three years, to be credited against an agreed 
formula. Im open to suggestions total approx 120 for new workover 3 years , benefits to you over the 
next 20. 
5, can consider interests other than cash as payment. ? 
6. need to speak re , bankers, valuations, mechanics and their continued importance. 
Date: Fri, Oct 16, 2015 at 4:38 AM 
Subject: 
To: Melanie Spinella <__________________________k> 
Office, - ada goes. , hire heather a paralegal. Joslin goes or is closely managed by new cfo with tax 
experience. . castrucii goes asap.as he merely adds to mess.( too many people, ex 7 people or more to 
pay a bill ) eva goes. outsource as much as possible. . bookkeeping systems built from scratch, 
airplane restructure, boat. same, new grats. phaidon sale, decide on artspace survivability, regan, . do 
the kids really want these? , children accounting ie bens house.etc. re do estate for new facts. redo 
loans, trading accounts activity, . gaming -foreign- disclosures. . BRH TRA re thinks. household and 
construction architects. . redone. art partnership, choice of paintings. . re do structure of consultants. 
tax re family office. . decide if investments are a realistic option in the next three years.. insurance. 
operations. airplane , etc. . art foundation , private. max charity contributions, financial reports. still 
waiting. ? on line banking, . tax planning, family office deductions ( profit center ) . airplane certificate, 
redone jet aviation redo. . paper gigi ( E )trust to avoid gift tax. . 
today is Oct 15 
With your full knowledge I paid out 8 mil to my staff before june, . so i guess I can safely assume that 
after consideration of all the things I did for the entire past year separate and apart from your unique free 
""after care"" concept. , what you thought was ultimately fair was the contribution of 5 million to a 
foundation and a total of 2 million dollars to me. 
Date: Fri, Oct 16, 2015 at 1:08 PM 
Subject: 
To: Melanie Spinella < 
I think you should consider the fact that your family office will be the most central component of what you 
leave to your children, wife heirs. it is the core of your assets. your art might be sold. your houses may 
lie empty, the apollo stock could be sold. you will pass on your office, . it will be the primary player in 
your estate tax. probate, transition. Brad has taken it from a D minus to a C minus, If I were you I 
would set the goal of an A. just like your paintings. . Like a house you could attempt to renovate it. it 
will take more time and money . or . in essence as I suggested in dec of 13, start from scratch. A 
financail head of office. - brad could move to being richards replacment as trustee.. barry cohen would 
be perfect but carries the trustee taint now. . take a tax partner from a major firm. to replace joslin, 
cost 1 + mil . keep heather and ssmantha. . bring in full time IT person. ASAP . your lighting 
contractor in your new townhouse has better IT than your multi billlion dollar antique opersation. data 
breaches are not your concern, precision is. . either re do the office layout . or get enterly new space. 
the proposals to focus on following on a monthly basis the values of all your current investments is an 
example of misplaced prioirties. . Your office is the heart of the familys financial life and temp future, 
it needs a heart operation 
Date: Mon, Oct 19, 2015 at 5:10 PM 
HOUSE OVERSIGHT 023283 
Subject: 
To: Melanie Spinella <________________________> 
Radical but my preferred idea. . START from total scratch. there is absolutely nothing worth 
keeping in your family office except for heather , nothing at all . I remember when i bought my first 
house in order to renovate and jack robertson said forget it. knock it down start again, I could n't 
believe it. but he was right. Like your tax returns that were done in triplicate. TOM RICH ALAN. 
tom and rich were not really useful in the end. Alan was the only smart one. you should in my 
opinion Start a brand new office. hire cfo. bring joe over, heather and samantha, run parallel 
for 6 months and close down the mess of elysium forever, leave your kids a functioning operation 
professionally constructed and managed. NOT BY ME!!! 
LAst nov i laid out priorities IT , being the first nothing as of today. in July I said focus on airplane 
as a test. to examine procedure and proficiency, so far mostly a waste of resources time people 
etc. Only last week told debra owns 49 percent of plane. no IT to speak of. bens house 
unaccounted for. tax returns very very sloppy, . boat still argued as third home. . pilots bonuses?, 
structure unkown by all. cash sitlling at the same time loans outstanding. 
Phaidon, looks like close to breakeven in a few years. others totally unknown. Query, do you 
really want this ? : I m not sure how you both want to have an investment office and have cash flow 
being eaten by publishing and loans amounts outstanding increased by art. --interest rates will be 
going up.- . your plane will cost 10 million to refinance - so will boat if sold next year-. art space and 
regan , both needs more cash. with little return, taxes , art purchases. Part of radical solutition is to 
sell publishing.altogether. (are the children really interested.) . restrucuture plane from scratch. 
layers unncessary. simplify crazy structure s bank accounts trading accounts accounts payble. credit 
cards. etc. The best way to wean yourself away from me is to have someone else do the whole thing 
from scratch. . move brad to be the replacement for Richard. . he is nice but this is not what he does. 
Him saying it is s0000 flicked up to me , was only an echo of me sayint it to you. . 
Subject: 
To: Melanie Spinella .MINIM 
as brad can attest, I spent time today with joslin, joe. etc. no question at all, a failed experiment. In 
the words of a banker that made a call on your office. what happened? leon seems to have replaced 
Eillenn with a team of Shleppers. ? I know you care little for what they may think, but the legacy you 
leave your kids is just that. you only have 60 days of planning left for this year. numbers are all over the 
place. 
I recieved a nice call from Karp today, . He touted me as a great friend to you. I am happy to be just 
that.. He said it was important for me to tell you what others won't. Keep heather, fire EVERYONE 
else. 
Date: Mon, Oct 26, 2015 at 1:10 PM 
Subject: CONSTRUCTIVE? 
To: Brad Wechsler >, Melanie Spinella .cilil 
1 cash flow projections for 16. . draft ok. i will be easy. i need relight projection. 2. phaidon chart 
laid out now with who signs in sale of shares vs enitities. ? ie managing memebrs. . 2 . 3 new 
trusts. Apo-o , dynasty, ( does leon want to put in new restrictions per child ). - publishing interests. . 
3 11c, for investments 4 names insured? guarnatees? art loans, outstanding. sales or use tax owed? 4, 
comparison of execu jet vs jet aviation. . 5. the bank loan on the jet is going to come due. does leon 
prefer to extend f they would ( he is a guarantor. ? ) or will he need to pay 10 million cash to renew, 
that wiill determine new structure of plane. getting rid of rance, wells fargo, john hannon, lisa gratizaino 
etc. . 5. boat restructure . 6 grats - if leon decie to have another. 7 accountning for children, . 
HOUSE OVERSIGHT 023284 
Date: Mon, Oct 26, 2015 at 7:08 PM 
Subject: draft 
To: Melanie Spinella < >, Brad Wechsler 
phaidon and art space. combined basis 96 million, ( reviewed with brad and joe.) . add ten for 
restructuring . basis 106. mi. subtract total sale price, for both, lets say approx $8 - 15m . leaving 
loss of between 90 and 98 million long term loss. . AMT rate 28 % obama . tax 3.8% . city and state 
12% total aprox 43 %. tax rate. savings 38.7 - 44 m 
0:51 PM (15 hours ago) 
to me, Richard, Karen 
Good afternoon 
Removal of headers in Cabana's 1 and 2 started today 
Dock Shelters proposed start date 16 Apr 
LSJ staff cottage and Sams kitchen and bath cabinets are due in this week. 
Have yet to schedule install. 
Will have estimate for GSJ Staff Cottage from EB by the end of the week 
Unable to contact Jimmy again regarding thIs project, Reached our Monday to schedule site meeting, got 
a - No Can Do - 
reply !!! 
Regards Brice 
Date: Mon, Oct 26, 2015 at 8:37 PM 
Subject: 
To: Brad Wechsler < , Melanie Spinella < 
gain at 20 % not 28. . so total , 35.8%. tax rate. same for boat. and plane each around 10 m so total 7 
m savings if both sold 
Date: Fri, Jun 3, 2016 at 5:56 PM 
Subject: 
To: Heather Gray ______________________ 
heather leon seems to not recall the issue of finding an alternative to the eschange agents resale 
cerificate. he didnt remeebr you suggesting a gallery instead, you mentioned that he did not want to get 
another gallery involved. ? has any of the transactions been audited using this method , which even i find 
agressive. 
Date: Fri, Jun 3, 2016 at 3:02 PM 
Subject: RE: 
To: ""jeffrey E."" leevacation@gmail.com> 
Hi Jeffrey, 
As you will recall, we used this same exchange agent last year on the Calder 
1031. At the time, we discussed the merits of using a gallery versus a 
commercial exchange agent and my recommendation to Leon was to use a 
gallery. I felt that there were advantages to using a commercial exchange agent 
instead of a gallery on the 1031 side (e.g., less likelihood of a breach of 
confidentiality, IRS familiarity with CDEC in the event of an audit, security of 
HOUSE OVERSIGHT 023285 
funds), but that a commercial exchange agent gave us less comfort on the sales 
tax side. Leon did not want to use a gallery because he was concerned about 
confidentiality and he did not want to have to ask a gallery that he did not do 
much business with to act as exchange agent. 
When Leon first discussed the exchange for the Cezannes with me a few 
weeks ago, I asked him if he wanted to use the same exchange agent as last 
year, or if he wanted to use a gallery. I said that a gallery carried little to no risk 
on the sales tax side, but I reminded him that he had not wanted to use a gallery 
last year for the Calder because of confidentiality reasons. He said to use the 
same exchange agent as before, which made sense to me because he was 
extremely concerned about confidentiality with the purchase of the Cezannes. 
I will find out about sales tax audits and will let you know. The exchange agent 
has had a New York resale certificate since 2014 and has been engaged in art 
transactions like this since then, but I do not believe they have been audited. I 
will check, though, and I will also ask the Herrick lawyer if any of his clients who 
have done similar deals have been audited. 
Best, 
Heather 
HOUSE OVERSIGHT 023286 
"
IMAGES-005-HOUSE_OVERSIGHT_018677.txt,"When I was younger, it took me a while to get around to taking the dominant role. And
there's still something I can reach when I'm being submissive and masochistic that I've
never reached when I'm dominant. Still, I think of myself as a confirmed switch now:
someone who can take either the submissive or dominant role. Yet it's such a strange
binary, isn't it? If he rips me apart and then says, ""I just want to take care of you,"" then
which of us is in charge?

Mica told me recently that, ""When you're hurting me, my favorite thing you say is 'I
know.’ Because you do know. You know exactly what it's like.”

By now I'm barely scared. It hasn't been that long, and I'm trying to allow for New
Relationship Energy. I know this could still go up in smoke. But we've talked about
expectations, and we've talked through what we're both looking for, and we're both
thinking of each other in a long-term way.

If I had to point to events that ""proved"" Mica has serious potential, two things would top
the list. First, in the aftermath of his first incredible S&M experience, when he dealt with
the disappointment of realizing that S&M can't always be that -- dealt with it quietly,
sensibly, without drama, by talking to me. And second, when he said, in defiance of most
aggressive stereotypical dominant roles: ""I just want to take care of you.”

te Kk ok

This can be found on the Internet at:

http://clarissethorn.com/blog/2012/02/10/storytime-the-strange-binary-of-dominance-

and-submission/

FEMINISM:

[storytime] My Mom's Rape Story, and A Confused Relationship With
Feminism

I wrote this in 2012, for Mother's Day. It was originally published at the girl-power site
OffOurChests.com.

te OK ok

My Mom's Rape Story, and A Confused Relationship With Feminism

My mother is a rape survivor. In 1970, when she was in her twenties, she came home
alone one day with the groceries. As she was opening the door, a man came up behind
her and forced her into the apartment, where he violently assaulted her. For years
afterwards, my mother had Rape Trauma Syndrome -- a type of Post-Traumatic Stress
Disorder that affects rape survivors -- but neither RTS nor PTSD had yet been identified,
and psychiatrists didn't know what to do with her.

HOUSE_OVERSIGHT_018677
"
IMAGES-003-HOUSE_OVERSIGHT_016015.txt,"Schrédinger’s Cat

easurement is a big puzzle. What causes the collapse of the
Mees function so that the photon stops considering many

optional paths and makes a hard and fast decision. When light
passes through a series of glass surfaces, it is reflected or transmitted by
each. We can stack up as many pieces of glass as we want, but none of the
surfaces will cause a measurement — a collapse of the wave function. It is
not until the photon reaches a detector that a measurement is made and
all the potential reflections and transmissions that might have happened
‘collapse’ into the one choice that actually happened.

You might doubt this but there are ingenious experiments that can
be performed to prove it. One is quite simple to do and can be set up
on your kitchen table with a handheld laser and $100 worth of optical
components. You need three ordinary mirrors and a beam splitter. Beam
splitters are often made from half-silvered mirrors. They are similar to
your bedroom mirror except the silver coating is more thinly applied,
allowing only half the light to reflect while the rest passes straight
through. Arrange the mirrors and beam splitter on a table at the four
corners of an imaginary box, as in the diagram. If you point your laser at
the half-silvered mirror, half the light will go straight through and half
will be reflected upwards towards the first mirror. It is sent on around the
square until it meets the half-silvered mirror again, and the beams meet
up. You might expect that half the light reaches the detector but this is
not what happens. Depending on the way the mirrors are positioned,
either all the light reaches the detector, or none does. (The light does not
disappear it just gets sent back to the light source, energy is conserved.)
If you turn down the brightness of your laser, this does not change. Even

HOUSE_OVERSIGHT_016015
"
TEXT-001-HOUSE_OVERSIGHT_030512.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
Jeffrey Epstein [jeeyacation@gmail.com] 
3/7/2011 4:42:11 PM 
Gmax [gmax1@ellmax.com] 
Fwd: FW: Please forward 
image001.png 
----------Forwarded message---------- 
From: Jack Goldberger < 
Date: Mon, Mar 7, 2011 at 8:18 AM 
Subject: FW: Please forward 
To: Jeffrey Epstein <jeevacation@gmail.com> 
From: Kirsty Mackenzie 
Sent: Monday, March 07, 2011 11:11 AM 
To: Jack Goldberger 
Subject: RE: Please forward 
I am writing in an attempt to make contact with Jeffrey Epstein and wondered if you would, as his attorney, forward this message on 
to him? 
We are keen to explore the possibility of conducting an interview with Mr Epstein, on the subject of the stories which are circulating, 
however inaccurately, about both him and Prince Andrew, the Duke of York; we'd be keen to hear from Mr Epstein first hand so that 
the various and at times, speculative reporting which is at large in the UK press can be better scrutinised? 
Let me tell you a bit about the Today programme. 
Today is the BBC's main morning news show; we have been part of the BBC for over 50 years and are generally considered one of the 
most important news broadcast outlets - either on radio or TV - here in the UK. We set the news agenda for the BBC and in many 
respects we set the daily news agenda for the country. Our interviews are regularly re broadcast across the BBC's national and 
international news network including - BBC World, BBC World Service and BBC Online. The combination of these outlets means 
the global 'reach of a BBC Today programme interview is second to none. 
Programme guests have included a selection of some of the biggest names in politics, business, international relations and the arts 
including US Treasury Secretary Tim Geithner, President Nicholas Sarkozy, President Hamid Karzai, HRH the Prince of Wales, 
former President Musharraf, former Secretary of State Condoleezza Rice, former President Bill Clinton, Senator George Mitchell, Al 
Gore, Kofi Annan, former Prime Minister Tony Blair, the Dalai Lama, Bill Gates, George Soros, Stephen Hawking, Sir Paul 
McCartney, Mick Jaggar and Salman Rushdie. 
We are a programme that carries considerable weight and influence and which prides itself in being a first port of call for many of the 
most important and influential figures on the international stage. 
I can best be reached via my cell phone - 
My very best wishes and my thanks! 
Kirsty 
Kirsty MacKenzie, 
Interviews Editor, 
Today Programme, 
BBC News 
- or this email address. 
HOUSE OVERSIGHT 030512 
http://www.bbc.co.uk  
This e-mail (and any attachments) is confidential and may contain personal views which are not the views of the 
BBC unless specifically stated. 
If you have received it in error, please delete it from your system. 
Do not use, copy or disclose the information in any way nor act in reliance on it and notify the sender 
immediately. 
Please note that the BBC monitors e-mails sent or received. 
Further communication will signify your consent to this. 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 030513 
"
IMAGES-002-HOUSE_OVERSIGHT_013524.txt,"Indian village of Ganeshpuri, called them our samsara. These limit the formlessness
of anticipation that underlies sensibility. Our samsara reduces the uncertainty that
could serve as grounds for new perceptions and understanding of others. Pre-
emptive distortions reduce the bandwidth available for new information. They impair
the range of empathic relations with others as well as ourselves. These restrictions
in possibilities and choices are expressed in enduring patterns of behavior, thinking
and feeling that mental health practitioners call personality and character. When
confronted with these constrictions, the self justifying and diagnostically revealing
thought about a feature of one’s personality is, “...doesn’t everybody? “ This pride in
our shape contrasts with the teachings about emptiness of one of Baba’s favorite
Indian holy men, Zipruanna, who sat all day, loin clothed naked in a garbage dump,
instructing his students and followers about knowing and being nothing.

We quantitate deficiencies in formlessness using statistical measures of
entropy. They characterize the system’s behavior as a distance from the state of
highest entropy also known as maximal randomness. Professor Karen Selz of
Emory University did a study in which her human subjects, after taking a battery of
personality inventories, were asked to remove as many dots as possible from a
computer screen full of them in three minutes. They were to do so by left clicking on
each of them with the mouse key. Two seconds after a dot was removed, it
reappeared and became subject to removal again. As they went about the dot
removal task and unbeknown to the subjects, the orbit inscribed by their dot
removing mouse travels was recorded for later graphic representation and
quantification. Most subjects with the usual broad mixture of personality traits
inscribed a wide variety of orbital line styles: little wiggles, big wiggles, large and
small loops, little smooth slides and big and little jumps. The counter-intuitive
coupling of stylistic rigidity and whole system instability (as in non-hyperbolic fixed
points described in the previous essay and below) is in evidence at the personality
and graphical extremes of her subject group.

A fastidious, rigidly organized, severely obsessive-compulsive subject
repeatedly removes the same dot, only occasionally moving to a neighboring one to

do more repetitious left key mouse clicking. Very little of the large computer screen

24

HOUSE_OVERSIGHT_013524
"
IMAGES-005-HOUSE_OVERSIGHT_019569.txt,"CHAPTER 9
Escape Artist

I’m not self-destructive. I don’t want to self-immolate and erase
myself from the pages of history. But if we don’t take chances, we
can’t win.

—EDWARD SNOWDEN, Moscow, 2014

TT"" NEXT EVENING, May 18, Snowden drove to Honolulu Inter-
national Airport. He left his leased car in the parking lot. He
took with him only carry-on baggage, including a backpack and a
laptop with a Tor sticker on it. “I took everything I had on my back,”
he said, referring to the backpack. He also said that he took enough
cash to pay for his fugitive life and he took the thumb drives con-
taining the NSA’s keys to the kingdom.

At this point, of course, Snowden was not wanted by the author-
ities. He had provided his employer and the NSA with a medical
excuse for his absence from work so he would not be immediately
missed. He had a valid passport, a credit card, and ID. Snowden’s des-
tination was Hong Kong. After crossing the international date line,
Snowden waited about three hours in the transit zone of Narita. He
then boarded a plane to Hong Kong. After the four-hour flight from
Narita, he arrived in Hong Kong early in the morning on May 20.

He had visited Hong Kong at least once before, with Lindsay
Mills, when he was stationed in Japan. According to Albert Ho, his

| | Epst_9780451494566_2p_all_r1.z.indd 81 ®

9/29/16 5:51PM | |

HOUSE_OVERSIGHT_019569
"
IMAGES-006-HOUSE_OVERSIGHT_022021.txt,"PATTERSON

y about his crimes because vic-
) speak out. Some may disagree
nents made in this case, but
xt the ones who at the time

tilable for trial and assessed the

Respectfully, 4 .
R. Alexander Acosta }
Former U.S. Attorney _— . A p i erma C h
Southern District of Florida

HOUSE_OVERSIGHT_022021
"
IMAGES-002-HOUSE_OVERSIGHT_013242.txt,"w
NO
fon

A Glossary

GB: Global Brain

GEOP: Goal Evaluator Operating Procedure (in a GOLEM context)
GIS: Geospatial Information System

GOLEM: Goal-Oriented LEarning Meta-architecture

GP: Genetic Programming

HOI: Higher-Order Inference

HOPLN: Higher-Order PLN

HR: Historical Repository (in a GOLEM context)

HTM: Hierarchical Temporal Memory

IA: (Allen) Interval Algebra (an algebra of temporal intervals)

IRC: Imitation / Reinforcement / Correction (Learning)

LIFES: Learning-Integrated Feature Selection

LTI: Long Term Importance

MA: MindAgent

MOSES: Meta-Optimizing Semantic Evolutionary Search

MSH: Mirror System Hypothesis

NARS: Non-Axiomatic Reasoning System

NLGen: A specific software component within OpenCog, which provides one way of dealing
with Natural Language Generation

OCP: OpenCogPrime

OP: Operating Program (in a GOLEM context)

PEPL: Probabilistic Evolutionary Procedure Learning (e.g. MOSES)
PLN: Probabilistic Logic Networks

RCC: Region Connection Calculus

RelEx: A specific software component within OpenCog, which provides one way of dealing
with natural language Relationship Extraction

SAT: Boolean SATisfaction, as a mathematical / computational problem
SMEPH: Self-Modifying Evolving Probabilistic Hypergraph
SRAM: Simple Realistic Agents Model

STI: Short Term Importance

STV: Simple Truth VAlue

TV: Truth Value

VLTI: Very Long Term Importances

WSPS: Whole-Sentence Purely-Syntactic Parsing

A.2 Glossary of Specialized Terms

Abduction: A general form of inference that goes from data describing something to a
hypothesis that accounts for the data. Often in an OpenCog context, this refers to the PLN
abduction rule, a specific First-Order PLN rule (If A implies C, and B implies C, then
maybe A is B), which embodies a simple form of abductive inference. But OpenCog may
also carry out abduction, as a general process, in other ways.

Action Selection: The process via which the OpenCog system chooses which Schema to
enact, based on its current goals and context.

Active Schema Pool: The set of Schema currently in the midst of Schema Execution.

HOUSE_OVERSIGHT_013242
"
IMAGES-001-HOUSE_OVERSIGHT_011835.txt,"/ BARAK / 78

and refining our position on Jerusalem. I think Clinton expected a formal offer
from us. Since I’d been guided by his request for a list of questions for Arafat,
however, that is what we came to him with. As we’d discussed, I wanted finally to
elicit some sign of whether Arafat, too, was ready to make difficult decisions.

The questions were specific. “Will you accept an agreement that stipulates the
following...” it began, and proceeded to outline the kind of peace we could accept
and still hoped for. The points included not just Jerusalem, but areas I knew would
also be sensitive for Arafat, such as the “right of return” and formal agreement to
an end of conflict. We went further than before in some areas. One of the outer
East Jerusalem neighborhoods would be under Palestinian sovereignty. The rest of
the city would remain under Israeli sovereignty, but most of the other Arab villages
would be subject to a system of Palestinian administration. The Haram al-Sharif,
the mosque complex above the wall of the Jewish temple, would be under
Palestinian “administrative and religious management.” We also suggested
“special arrangements” implying a Palestinian presence in the Old City, but again
under Israeli sovereignty. The questions envisaged eventual Palestinian control in
the Jordan Valley, with an Israeli security zone for 12 years, rather than our
proposal in pre-summit talks for 30 years. Then, explicitly, we proposed a question
to Arafat to confirm my understanding with Clinton that the “right of return”
would apply not to Israel proper, but to a Palestinian state on the West Bank and
Gaza. Finally, the document said: “I understand that such an agreement constitutes
an end of conflict.”

After he read it, the President blew up. Far from the “bottom lines” he’d
apparently hoped for, but which I’d never thought were expected at this stage, I
seemed to be retreating from ideas Shlomo and Gili had presented in their all-night
session with the Palestinians. Given the ground rules of that exercise, they’d felt
able to go beyond anything we’d actually agreed, and in some areas beyond what
they knew I could support. As a result, the list of questions assumed Israel would
keep a little more than 11 percent of the West Bank, nearly one percent more than
Shlomo had mentioned. Shlomo and Gili had also raised the possibility of up to
three of the outer Jerusalem villages coming under full Palestinian sovereignty.
“You keep us, and Arafat, waiting for 13 hours,” Clinton fumed, his face nearly
scarlet. “And you want me to present something /ess than you’ve already offered.”
He said he wouldn’t do it. “This is not real. It’s not serious.” He said that he’d
gone to Shepherdstown in search of what was supposed to be an endgame with the

364
HOUSE_OVERSIGHT_011835
"
TEXT-002-HOUSE_OVERSIGHT_032803.txt,"From: Neal Kassel 
Sent: 9/4/2018 12:46:09 AM 
To: Melanie Walker 
CC: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Re: Introduction 
Importance: High 
Thanks Melanie 
Jeffery — look forward to meeting you. Wish Melanie was with us. I will be in New York from Tuesday the 25th 
through Friday, 28 September. Let me know if you are available. 
Be well. 
Sent from my iPhone 
N F Kassell MD 
434 981 0100 
On Sep 3, 2018, at 8:42 PM, Melanie Walker < wrote: 
Jeffrey - Neal 
Neither of you requires introduction. I've known Jeffrey 28 years and this isn't a joke - 
Donald Trump introduced us. I first met Neal in 16 years ago when Bob Pine introduced 
us ... 
Neal will be visiting NYC end of month. 
I think you would both enjoy spending time together - 
Thanks to you both for always supporting me. 
You are both copied. 
Melanie 
HOUSE OVERSIGHT 032803 
"
IMAGES-009-HOUSE_OVERSIGHT_026564.txt,"Herausgeberin

Heute - Kein Morgen ohne Heute
AHVV Verlags GmbH
Heiligenstadter Lande 29/Top 6
1190 wien

Tt

F:

ee

www. heute. at

----- Ursprungliche Na i —
Von: Manuela Wieland
Gesendet: Monta 07. Mat :

An:
Betreff: Zeitplan amfar Gala 19.5.2012

Liebe Frau Dichand,

anbei der Zeitablauf von der AMFAR Gala 2012 am 19.5.2012.

LG MW

HOUSE_OVERSIGHT_026564
"
IMAGES-007-HOUSE_OVERSIGHT_024019.txt,"play a critical role in enabling the necessary structural changes to the healthcare system. The
HITECH Act created a $25.9 billion!? Federal Government funded catalyst for the adoption of
information technology in healthcare in the U.S., and this is stimulating significant investment
in upgrading the information infrastructure at the provider level. This industry-wide
technology upgrade moves the vast majority of providers onto electronic systems, which offers
immediate efficiencies to their businesses and lays the foundation for the adoption of new
targeted information based applications in the future. These investments and legislative actions
by the U.S. government, and the subsequent response by insurers, providers and patients, are
driving a dramatic increase in spending on healthcare information technology (HIT), benefitting
the companies providing technology solutions that reduce cost and waste, drive efficiency, and
improve the quality of patient care.

The opportunity in information convergence also benefits significantly from the technologies
and infrastructure that have been developed and implemented outside of healthcare, such as
cloud computing, wireless communications, web-delivered software-as-a-service, and sensor
technology. Small companies drawing heavily off these existing technologies are able to
optimize their product through rapid iterations driven by user feedback, thereby reducing risk
and capital requirements, and leading to more predictable timelines, similar to what has been
seen in the broader information technology arena. The Fund Managers believe that smaller,
focused companies will play a key role in developing and deploying information based
products that address discrete problems within the U.S. healthcare market, and that a large
number of these will be compelling investment opportunities for NLV-IIL.

Medical Devices: Given the Fund Managers’ view that the operating and exit environment for
companies in this sector will be more challenging due to increased regulatory and
reimbursement uncertainty, NLV-III will have somewhat less exposure to this sector than
previous funds. The Fund will focus on investments in companies that are developing
innovative and differentiated medical devices, targeting large market opportunities that offer
the potential to meaningfully reduce overall patient treatment costs in high morbidity disease
settings through substantial efficacy and safety benefits versus existing standards of care.
Importantly, the focus will be on opportunities that have established regulatory approval
pathways and clear regulatory precedents, or are already at the commercial stage at the time of
initial investment. The objective will be to identify investment opportunities with later stage
risk profiles that can be expected to thrive in the current environment. Although the number of
deals in this sector is likely to be somewhat lower than in previous funds, with the later stage
focus, it is likely that the size of investments in this sector will be larger.

Biological Research Tools & Infrastructure: The rapid growth of this sector is being fuelled by
many of the same biomedical advances that are impacting health care more broadly, such as
personalized medicine and DNA sequencing. Smaller companies have always been a prolific
source of innovative new research tools, leading to high M&A interest among the large
commercial players in this sector. Moreover, because new reagents and research tools are not
subject to the risks of clinical trials, regulatory approvals or payer reimbursement it is possible
to build high-gross margins businesses that reach break-even on manageable timelines and
budgets. The Fund will approach this sector opportunistically and will seek to invest in a small

Bus. Department of Health and Human Services. Actuarial estimate as of January 2012.

8 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024019
"
IMAGES-006-HOUSE_OVERSIGHT_020636.txt,"177

teaching at the National University of Singapore’s Lee Kuan Yew School of Public Policy
(LKYSPP), was expelled from Singapore and permanently banned from the country.
The Ministry of Home Affairs (responsible for internal security and counterespionage)
said in a statement announcing the expulsion that Huang had been “identified as

an agent of influence of a foreign country” who had “knowingly interacted with
intelligence organizations and agents of the foreign country and cooperated with
them to influence the Singapore Government’s foreign policy and public opinion in
Singapore. To this end, he engaged prominent and influential Singaporeans and gave
them what he claimed was ‘privileged information’ about the foreign country so as to
influence their opinions in favor of that country. Huang also recruited others in aid of
his operations.”* The statement went on to say that Huang gave supposedly “privileged
information” to a senior member of the school of public policy in order that it be
conveyed to the Singapore government. The information was duly conveyed to very
senior public officials who were in a position to direct Singapore’s foreign policy.
The intention, the statement said, was to use the information to cause the Singapore
government to change its foreign policy. The statement concluded that Huang Jing’s
collaboration with foreign intelligence agents was “subversion and foreign interference
in Singapore’s domestic politics.”

The Singapore government has not named the foreign country. In 1988, Singapore had
expelled an American diplomat for interference in domestic politics. But it is generally
accepted that Singapore’s moves in Huang Jing’s case were directed at China.

Implications for ASEAN

There has been no systematic study of Chinese influence operations in ASEAN member
states. AS a major economy contiguous to Southeast Asia, China will always naturally
enjoy significant influence even in the absence of such operations. However, anecdotal
evidence suggests that Singapore’s experience is generally consistent across the region.
The differences stem mainly from lax governance standards in other ASEAN member
states and their lower level of development. Economic inducements and the greater
dependence of these countries on Chinese investment, under the general rubric of the
Belt and Road Initiative, seem to play a more prominent role.

A common factor is the focus on overseas Chinese communities. Such operations are
leading China into sensitive territory in Southeast Asia, where the overseas Chinese are
not always welcome minorities. China’s navigation of these complexities has in many
cases been clumsy. Malaysia provides a particularly egregious example that betrays a
form of cultural and political autism. During the 2018 Malaysian general elections, the
Chinese ambassador to Malaysia openly campaigned for the president of the Malaysian
Chinese Association (MCA) in his constituency. This was a blatant violation of the

Appendix 2

HOUSE_OVERSIGHT_020636
"
IMAGES-007-HOUSE_OVERSIGHT_023776.txt,"Teaching Minds

You taught me about the important role of explicit social
hierarchies in a learning environment. At Yale the hierarchy was
very clear and everyone knew exactly where they stood. You
pay your dues before you join the club and academia is chock
full of clubs. You taught this by both example and explanation.
Seeing a good clear example of a social hierarchy that works
(such as the one we had in our lab at Yale) gave me one level

of understanding, but I had to see what happens when the
hierarchy is not so obvious to truly appreciate the importance
of the whole concept. Any longstanding community will have a
social hierarchy, but it’s not always so obvious (especially when
the community likes to pretend it doesn’t exist), and that makes
it really hard on newcomers. I’ve seen some really stellar junior
faculty get into difficult tenure decisions because no one was
guiding them politically (or else they just blew it off). And more
recently I’ve been running into more and more students with
“entitlement issues” who just don’t seem to buy into any social
hierarchies. There is a lot of social commentary on why this is
happening and how the workplace needs to adjust to a whole
generation of kids who always got trophies.

| believe that effective teaching makes. . .

students understand where they fit in the world in which they
live

students understand how to get ahead in the world in which
they live

students understand the roles of those around them

There is certainly a great deal more that one could say about effective
teaching. Unfortunately, much has been written on effective teaching
that is not particularly helpful. Mostly it is politically correct advice
that is quite difficult to implement. Here are two lists that I found. The
first is from Learning to Teach in Higher Education. 1

1: Interest and explanation
2: Concern and respect for students and student learning
3: Appropriate assessment and feedback

HOUSE_OVERSIGHT_023776
"
IMAGES-008-HOUSE_OVERSIGHT_025424.txt,"Sender: e:jeeitunes@gmail.com

Time: 02/25/19 06:16:39 PM (572840199)

Flags: 1085445
Ts Read: No

Is Invitation: No

GUID: DD297D2A-292C-4D58-83F9-F6711166962F

Message: maybe hope you are having fun

sender: ay

Time: 02/25/19 06:17:50 PM (572840270)

Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 9CASD37A-93DF-42FC-8269-O2F61A081FB1

Message: This is never that much fun!
fun! I am sure that you are doing great.

sender: i

Time: 02/25/19 06:24:24 PM (572840664)

Flags: 1060865
Is Read: Yes
Is Invitation: No

GUID: BID6DAC9-6DA5-43F

=

Tr

BC25-D9A98AE34B6A

aa

Message: The biggest hypocrites are the cardinals!

Sender: e:jeeitunes@gmail.com

Time: 02/25/19 06:28:33 PM (572840913)

Flags: 1085445
Is Read: No

Is Invitation: No

GUID: 76A47000-5B2E-49FA-9E28-A984F4D80C73

a

Message: wild

Sender: e:jeeitunes@gmail.com

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Flags: 1085445
ITs Read: No

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GUID: 7C9l1E6A1-4B81-4FB1-9B90-O3C47147FD8C

I took the kids to Anguilla last week they was
The world has gone nuts.

Message: michael cohen testifying at the same time trump is with kim? wow

Sender: i’

Time: 02/25/19 06:29:23 PM (572840963)

HOUSE_OVERSIGHT_025424
"
IMAGES-011-HOUSE_OVERSIGHT_030864.txt,"Deutsche Bank does not render legal or tax advice, and the information contained in this
communication should not be regarded as such.

HOUSE_OVERSIGHT_030864
"
IMAGES-004-HOUSE_OVERSIGHT_016575.txt,"Code Enforcement Board Meeting Minutes 07/17/08

V. Public Hearings:

A. Case # 08-2431, 434 Seaspray Ave., Christopher Kaufman
Violation of Chapter 18, Section 18-242, Subsection 1 (104.1.1) of the Town of
Palm Beach Code of Ordinances, building permits required to construct, install,
repair or alter any building or building system.

Lead Code Enforcement Walton requested the case be postponed until a date
certain of September 18, 2008 as Mr. Kaufman has a hearing before the Town
Council.

MOTION BY MS GREENBERG TO POSTPONE THE CASE UNTIL
STEPTEMBER 18, 2008

SECONDED BY MR. OCHSTEIN

MOTION PASSED UNANIMOUSLY

B. Case # 08-2511, 114 N. County Rd., Palm Beach Affair
Violation of Chapter 46, Section 46-68 of the Town of Palm Beach Code of
Ordinances, annual fire and life safety inspection fees not paid

Code Enforcement Officer Gerry requested the case be dismissed as it had come
into compliance and the fees had been paid.

MOTION BY MR. FRIED TO DISMISS THE CASE
SECONDED BY MS. GREENBERG
MOTION PASSED UNANIMOUSLY

C. Case # 08-2512, 235 Sunrise Ave., Suite C8, Palm Beach Resorts International
Violation of Chapter 46, Section 46-68 of the Town of Palm Beach Code of
Ordinances, annual fire and life safety inspection fees not paid

Code Enforcement Officer Gerry presented the facts of the case and said the Town
recommends a finding of non-compliance, administrative costs in the amount of
$150.00 and payment of the fire inspection fee in addition to any late penalties and
costs by July 21, 2008. Mr. Hoffman inquired about the late penalties and Mr.
Gerry said they were based on a monthly penalty of 10% per month. In response
to Mr. Ochstein’s question, Mr. Gerry explained that both the business and the
property owner were cited. Mr. Fried inquired about service and Mr. Gerry said it
was sent by certified mail. Mr. Ballentine asked if any attempts, other than by
mail, were made to get in touch with someone at the business. Mr. Gerry said he
went to the business, was told the owner was difficult to reach and left his business
card but had not received any response.

HOUSE_OVERSIGHT_016575
"
TEXT-001-HOUSE_OVERSIGHT_022670.txt,"From: Thomas Jr., Landon 
Sent: Friday, January 16, 2015 7:56 PM 
To: jeffrey E. 
Subject: Re: How are you holding up? 
Importance: High 
> 
that is old news -- buy dollar and take a nap? Kind of like buying Apple? 
On Fri, Jan 16, 2015 at 2:52 PM, jeffrey E. <jeevacation(&,gmail.com> wrote: 
it is the begining world currencies are out of balance. brazil, etc 
On Fri, Jan 16, 2015 at 3:45 PM, Thomas Jr., Landon <______________________t> wrote: 
I think the big issue is separating yourself from Andrew. I mean I can see why a statement might 
help in some way -- but its Andrew (not clinton and the rest) that is keeping the story alive. Until 
you are able to come forward and address that the story lives on. I mean in the end he had 
consensual sex with• AndMworked for you. The rest is atmospherics. You have moved on! 
People don't know that and cant accept that unless you say as much. 
Does franc drama worry you? Am writing on it now... 
On Fri, Jan 16, 2015 at 2:35 PM, jeffrey E. <jeevacation(&,gmail.com> wrote: 
very well, my reputation has admittedly taken a hit. however, again, more calls re currency than i can 
handle. in addition I am considering a statement and positon that Out of respect and love for my former 
girlfrend I have tried to keep her out of my mess. she was never questioned, or subpeonaed. her name 
never surfaced.. I thought it right as a friend to protect her name. however during the entire 
time she was my serious girlfriend. She traveled with me almost everywhere, each house, she is on the 
plane many many times. she knew and remember She never saw anything that 
claims. She can confirm 1. I was never alone at the house. staff, friends etc. , no girl ever complained, 
not once. 2. jane doe 1 and 2, were local strippers, that would call all the time asking if they could do 
massages. . . they left message after message. 3. We had a serious love relationship, I had promised her not 
to involve her in my story as it was so sordid. . she was 22 - 24 at the time. . 4 she has photos after photos 
showing we were together. . 5 she knows clinton was never on the island. 6 she knows no sex with steven 
hawking, she knows no sex with ehud as he was also never on the island. 6 she is 38 years old now and 
presentable. . 7 She woudl acknowledge that these girls asked to bring their friends . many of their best 
friends sat in the kitchen while they gave massages outside on the terrace. ( no sex J. . they certainly 
looked over age. nevr heard anyone say otherwise. , Jeffrey never asked for underage, that is crazy, . . 8. 
answered the phones. served coffee. . there were many massage people , men women, aged up to 
60. 
On Fri, Jan 16, 2015 at 3:32 PM, Thomas Jr., Landon < wrote: 
Landon Thomas, Jr. 
1 
HOUSE OVERSIGHT 022670 
Financial Reporter 
New York Times 
1111111111Mill 
http://topics.nytinnes.conn/top/reference/tinnestopics/people/t/landon jr thonnas/inde 
x.htnnl  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation(&,gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytinnes.conn/top/reference/tinnestopics/people/t/landon jr thonnas/index 
.html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
2 
HOUSE OVERSIGHT 022671 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation(&,gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
Financial Reporter 
MIK 
http://topics.nytinnes.conn/top/reference/tinnestopics/people/t/landon jr thonnas/index.h 
tnnl 
3 
HOUSE OVERSIGHT 022672 
"
IMAGES-006-HOUSE_OVERSIGHT_021528.txt,". b6
* @ b7C
|

Automated Serial Permanent Charge-Out
FD-5a (1-5-94)
Date: 04/02/08 Time: 13:21

Case ID: 31E-MM-108062 Serial: 153

Description of Document:

Type : EC |
Date : 03/27/08
To : MIAMI

From : NEW YORK
Topic: TO COVER LEAD SET BY THE MIAMI DIVISION,SERIAL 134,LEAD 1

Reason for Permanent Charge-Out:

Error in serializing.

3B E-mm- le R062 153
HOUSE_OVERSIGHT_021528

"
IMAGES-006-HOUSE_OVERSIGHT_020805.txt,"Image source: slavorum.org

#7 Ron Weasley?

SE

Image source: slavorum.org

#8 Megan Fox Or Just A Girl From The Street?

HOUSE_OVERSIGHT_020805
"
IMAGES-007-HOUSE_OVERSIGHT_022483.txt,"--

nationalgeographic.com / Michael Greshko While capuchins won't
use tools like us any time soon, the species now “has its own individual

archaeological record,” scientists report. For capuchin...

Low-Wage Workers Are Being Sued for
Unpaid Medical Bills by a Nonprofit
Christian Hospital That Employs Them

HOUSE_OVERSIGHT_022483
"
IMAGES-004-HOUSE_OVERSIGHT_017858.txt,"IN RE TERRORIST ATTACKS ON SEPTEMBER 11, 2001

793

Cite as 349 F.Supp.2d 765 (S.D.N.Y. 2005)

The commercial character of an activity
shall be determined by reference to the
nature of the course of conduct or particu-
lar transaction or act, rather than by refer-
ence to its purpose.” 28 U.S.C. § 1608(d).
The Supreme Court has explained, “when
a foreign government acts, not as a regu-
lator of the market, but in the manner of a
private player within it, the foreign sover-
eign’s actions are ‘commercial’ within the
meaning of the FSIA.” Weltover, 504 U.S.
at 614, 112 S.Ct. 2160. Courts must in-
quire whether the foreign state’s actions
“are the type of actions by which a private
party engages in trade and traffic or com-
merce.” Jd. (internal citations omitted).

[15] Judge Robertson determined that
the commercial activity exception did not
apply to the Burnett Plaintiffs’ claims
against Prince Sultan and Prince Turki
because “the act of contributing to a foun-
dation is not within our ordinary under-
standing of ‘trade and traffic or commerce’
nor, apparently was it within the contem-
plation of ... Congress.” Burnett I, 292
F.Supp.2d at 18 (citing H.R.Rep. No. 94-
1487, at 16, reprinted wm 1976
U.S.C.C.A.N. at 6615). Thus, the consoli-
dated Plaintiffs do not assert that the com-
mercial activities exception is applicable to
any of the Defendants raising FSIA de-
fenses here. This Court adopts Judge
Robertson’s reasoning. To the extent any
Plaintiffs’ claims are based on a Defen-
dant’s contributions to charities, those acts
cannot be considered commercial.

[16,17] The Federal Plaintiffs allege
that the Kingdom of Saudi Arabia, Prince
Sultan, and Prince Turki financed terror-
ism by contributing to or supporting chari-
ties known to support terrorist activities.
In these Plaintiffs’ view, this is essentially
money laundering and, therefore, a com-
mercial activity. See, eg., Federal Plain-
tiffs’ Opp. to Motion to Dismiss of Prince
Sultan at 18 (citing U.S. v. Goodwin, 141

F.3d 394, 399 (2d Cir.1997)). The Second
Circuit noted in Goodwin that “[mloney
laundering is a quintessential economic ac-
tivity,’ 141 F.3d at 399, but that statement
has no bearing here. In Goodwin the
court was not deciding whether money
laundering is a commercial activity for
purposes of the FSIA. /d. (analyzing con-
stitutionality of criminal money laundering
statute). The Second Circuit has made
very clear that, for purposes of the FSIA,
a commercial activity must be one in which
a private person can engage lawfully.
Letelier v. Republic of Chile, 748 F.2d 790,
797-98 (2d Cir.1984); see also Saudi Ara-
bia v. Nelson, 507 U.S. 349, 360-62, 113
S.Ct. 1471, 123 L.Ed.2d 47 (1993) (holding
detaining and torturing plaintiff is not
commercial activity since it “is not the sort
of action by which private parties can en-
gage in commerce”). Since money laun-
dering is an illegal activity, see 18 U.S.C.
§ 1956 (criminalizing money laundering), it
cannot be the basis for applicability of the
commercial activities exception. See Lete-
her, 748 F.2d at 798 (holding alleged par-
ticipation in an assassination is not a lawful
activity and therefore not a commercial
activity for purposes of the FSIA). Ac-
cordingly, the Court finds that the com-
mercial activities exception outlined in
§ 1605(a)(2) is inapplicable to the allega-
tions contained in the Federal complaint
against the Kingdom of Saudi Arabia,
Prince Sultan, and Prince Turki.

2. State Sponsor of Terrorism

[18] Subsection (a)(7) lifts immunity in
cases:
in which money damages are sought
against a foreign state for personal inju-
ry or death that was caused by an act of
torture, extrajudicial killing, aircraft
sabotage, hostage taking, or the provi-
sion of material support or resources
... for such an act ... except that the

HOUSE_OVERSIGHT_017858
"
IMAGES-011-HOUSE_OVERSIGHT_031549.txt,"From: Weingarten, Reid as

Sent: 1/16/2018 8:42:03 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
When?...(did you ask him after or before he got his grand jury subpoena?)

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Tuesday, January 16, 2018 3:39 PM
To: Weingarten, Reid

Subject: Re:

I told him to join me and Wolff for my birthday lunch . He said yes. He is just checking on a tea party
conference schedule

On Tue, Jan 16, 2018 at 4:36 PM Weingarten, Reid iii, wrote:

Acela...type it or wait till | get to a quiet place

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.
Sent: Tuesday, January 16, 2018 3:34 PM

To: Weingarten, Reid
Subject: Re:

Number ? Funny story

On Tue, Jan 16, 2018 at 3:35 PM Weingarten, Reid qa wrote:

Stevie boy is all over the place

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Monday, January 15, 2018 1:08 PM
To: Weingarten, Reid
Subject: Re:

megann feels if he stays he risks indicment

On Mon, Jan 15, 2018 at 10:05 AM, Weingarten, Reid iii. wrote:

And...2???? Trump stopped them? He cannot stand mcgahn

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Monday, January 15, 2018 10:02 AM

To: Weingarten, Reid

Subject:

HOUSE_OVERSIGHT_031549
"
IMAGES-007-HOUSE_OVERSIGHT_023945.txt,"How the Best Universities Inadvertently Ruin Our Schools 199

of a fraudulent institution. He reacted the way you might expect and
demanded an explanation. I asked him if he thought the average stu-
dent attending the University of Illinois was going there because she
figured after graduation she would be able to get a job.

He agreed.

I then asked whether job skills were in fact taught to the majority
of students there and whether the faculty, by and large, actually had
ever worked anyplace but a university.

He laughed.

It is OK that Yale hires only intellectuals and only the best of the
best because Yale is not a state-run institution and Yale can do what it
wants. No one is making anyone go to Yale. Caveat emptor.

But a state spending a great deal of money on its flagship educa-
tional institution ought to know what it is getting.

This is what it is getting—Yale.

There are no faculty members at the University of Illinois in any
mainstream department (I don’t mean agriculture, for example) who
do not consider themselves the equal of, and in some cases better
than, their Yale colleagues.

When I went to Northwestern, I was given the right to hire a va-
riety of faculty in a number of disciplines that related to learning.
When you recruit faculty, you mostly consider how your institution
might look better to someone at another institution. So, Northwestern
doesn’t recruit from Harvard or MIT (or Yale!) very often because Chi-
cago doesn’t seem a more appealing place than Boston to an academic
and Northwestern isn’t a step up. And, Northwestern doesn’t recruit
from California in general, for the same reason.

So, it’s the University of [linois!

I recruited heavily from [linois because Chicago looks more ap-
pealing than Champaign-Urbana to most people, so I had something
to offer, and the faculty there had already bought into the idea of liv-
ing in the Midwest. Moreover, in the academic world, the University
of Illinois is considered to a top-ranked institution with a faculty every
bit as good as Yale’s, maybe better in some departments.

So, why is this bad?

It is bad for the students of the state of Illinois who worked hard
to get into the state’s best university only to discover that its faculty
think they are at Yale.

Of course, they know they are not at Yale, but they are compet-
ing in that world nevertheless. They also do research and publish and

HOUSE_OVERSIGHT_023945
"
IMAGES-009-HOUSE_OVERSIGHT_027691.txt,"Message: ?

Time: 05/05/19 10:25:42 AM (578769942)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: F3CD4D0D-7316-4D3C-99E5-93F5AF53E12B

Message: You see trumps tweet- I blew up the deal

Sender: e:jeeitunes@gmail.com

Time: 05/05/19 10:38:01 AM (578770681)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: DA036949-4ADF-4B7C-AC3E-7FO301CCA97B

2%

Message: Yup

Time: 05/05/19 10:43:25 AM (578771005)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 6678A34A-5F3A-4AB7-A053-B80D532F0A

El
QO

Message: Dead fucking on the target

Sender: e:jeeitunes@gmail.com

Time: 05/06/19 04:44:15 AM (578835855)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: F53D0887-EADA-4850-A03F-8BF7D3117E36

r

Message: funny , but the chinese reached out to me to see if i would visit re
mathematics . odd timing

Time: 05/06/19 04:45:28 AM (578835928)

Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: O4B3C0C8-A793-40E0-85C4-352A467DC660

Message: Seriously ?... would be huge

HOUSE_OVERSIGHT_027691
"
IMAGES-008-HOUSE_OVERSIGHT_024909.txt,"COWEN
COLLABORATIVE INSIGHTS February 25, 2019

GW’s platform allows it to produce chemotypes with precise concentrations of various
cannabinoids, and the company is testing numerous other cannabinoids. GW’s CBDV
drug is in a 10 patient investigator sponsored trial in autism spectrum disorders, and a
Phase II 100 patient placebo controlled trial in this indication began in December 2018.
GW is also investigating CBDV for use in epilepsy, though the first clinical trial was not
successful.

Zynerba studied its transdermal CBD gel ZYNOO2 in Fragile X syndrome ina 12 week
Phase || open-label study in children and adolescents. In the trial, patients were initiated
ona dose of 50mg daily with the option to titrate up to 250mg daily. The primary
endpoint was the Anxiety, Depression, and Mood Scale (ADAMS) Total Score. Twenty
patients were enrolled, 18 of whom completed the 12 week treatment. At 12 weeks,
two patients were on 100mg and 16 were on 250mg. On the primary endpoint, subjects
saw an average improvement of 14.1 points (or 45.8%) from baseline (p<0.0001) with
the greatest improvements seen in social avoidance (52.9%), general anxiety (54.0%),
and manic/hyperactive behavior (p=0.0003). Twelve patients continued in a long-term
extension study out to 12 months of follow up. These patients showed statistically
significant improvements in mean % change from baseline in ADAMS Total Score, as
well. The extension trial also contributed to a more robust safety dataset. The most
common treatment-emergent adverse events were gastroenteritis (14%) and upper
respiratory tract infection (12%); no serious AEs were reported. A randomized, double-
blind, placebo-controlled trial to extend these findings to a larger population is ongoing
in Australia, New Zealand, and the U.S.

Figure 130 ZYNOO2 Produced Reductions In ADAMS At 12 Weeks... Figure 131 ...And Efficacy Persisted Out To 12 Months In An Extension
Study
Weak 12 A = [_apaus
Scale: ADAMS SSNS | PROGR 12: | 1 marowemont | F-areiue B20
(n=20) | (n=18) i
Group Mean Ee 2 oa gu BO2 582 so"" soa""

Total Score -_ -14.1 (45.8) <0.0001 : 7 Tass i

Social Avoidance a -§.1 (52.9) 0.0002 : *

Mag NGS RCE | ag 6.1 -27 (35.1) 0.0003 * Tr

Behavior e a! Social Avoidance Manic/Hyperactive Depressed Mood General Anxiet; Compute! pve
Depressed Mood 2.8 2.0 -0.9 (28.6) 0.1417 “e<0.08 Monin 3 ¢n=12) = Month @ ¢n=12)_etnonth 12 (n=12) ad
General Anxiety 10.0 46 -4.8 (54.0) <0.0001

Compulsive :

Behavior 2.8 14 -1.2 (50.0) 0.0262
Source: Zynerba Source: Zynerba

COWEN.COM 93

HOUSE_OVERSIGHT_024909
"
IMAGES-003-HOUSE_OVERSIGHT_015291.txt,"In July 2017, the national Human Rights Defense Center
organization has filed a federal lawsuit against the Kentucky Department
of Corrections for violating free speech. It has unconstitutionally blocked
the delivery of many books to state prisoners, including the Prisoner
Diabetes Handbook, the Merriam-Webster Dictionary of Law, and the
Prisoners Self-Help Litigation Manual.

Welcome to Camp Mogul

My irreverent friend, Khan Manka, Chairman & CEO of Manka
Brothers Studios, had broken his ankle and was afraid he wouldn’ t be
able to attend the 26th annual gathering of the nation’ s most powerful
executives and their trophy wives in Sun Valley, Idaho. | really wanted to
spy on this 2008 summer camp for billionaires, so | suggested that Manka
get a wheelchair, then | could serve as his official wheelchair pusher, and
he immediately went for the idea.

This by-now traditional five-day extravaganza for three hundred
guests was hosted by Wall Street investment banker Herbert Allen,
President and CEO of Allen & Company. There were moguls all over the

campground, overflowing with the country’ s most influential leaders in

HOUSE_OVERSIGHT_015291
"
IMAGES-011-HOUSE_OVERSIGHT_030657.txt,"Breaking News Alert

September 25, 2017
NYTimes.com »

BREAKING NEWS

At least six of President Trump's advisers, including Steve Bannon and Reince
Priebus, used private email accounts for government business

Monday, September 25, 2017 8:08 PM EDT

At least six of President Trump’s closest advisers occasionally used private email addresses
to discuss White House matters, current and former officials said on Monday.

Officials are supposed to use government emails for their official duties so their
conversations are available to the public and those conducting oversight. But it is not illegal
for White House officials to use private email accounts as long as they forward work-related
messages to their work accounts so they can be preserved.

During the 2016 presidential race, Mr. Trump repeatedly harped on Hillary Clinton’s use of a
private account as secretary of state, making it a centerpiece of his campaign and using it to
paint her as untrustworthy. ““We must not let her take her criminal scheme into the Oval
Office,” Mr. Trump said last year. His campaign rallies often boiled over with chants of
“Lock her up!”

Read More »

a =

HOUSE_OVERSIGHT_030657
"
IMAGES-004-HOUSE_OVERSIGHT_017680.txt,"Page 45 of 78
2007 Utah L. Rev. 861, *923

The Advisory Committee recommended no change to this rule. 37
Discussion:

The Advisory Committee rejected this change because, in its view, the fact that the CVRA did not specifically address transfer
decisions precluded any amendment:
[*924]

Judge Cassell grounds his proposal on the general provision of the CVRA that gives a victim a right to be treated with
""faimess."" /8 U.S.C. § 3771(a)(8). The Subcommittee was not persuaded that this general language warranted an amendment
that would require the court to consider the victim's views. In the case of transfers for prejudice, the preferences of the victim
could not outweigh the defendant's right to a fair proceeding. In the case of transfers for convenience, the statutory right to
confer with the attorney for the government provides the mechanism for incorporating the victim's views. As in the case of
Rule 20, the Subcommittee declined to go beyond the carefully crafted limitations of the statute. In appropriate cases, the
attorney for the government should appraise the court of the victim's views. 768

Once again, the Advisory Committee's position clashes with the statute. The Committee does not argue (nor does it seem
plausible to argue) that transferring a case to a distant location without even considering the victim's view treats the victim
fairly. Instead, the Committee ducks the implications of the right to fairness because it is ""general language,” as though a
""general"" command from Congress can be ignored.

Perhaps recognizing the weakness of its position, the Advisory Committee goes on to craft a policy argument against victims
being heard. It divides transfer cases into two types - those for convenience and those for prejudice - and concludes that victims
should not enjoy a guaranteed right to be heard in either situation. In neither case is the analysis convincing.

With regard to transfers for convenience, the Committee contends that the victim's right to confer with prosecutors is sufficient
protection. But a victim's conference with those very same government authorities who find it convenient to move the case
hardly will give victims much comfort - much less the right to fairness that Congress has mandated. The Committee also is less
than clear when it directs prosecutors to advise the court of the victim's objections ""in appropriate cases."" It is hard to think of
any case when a prosecutor would be justified in concealing an unrepresented victim's concerns from the court. 3° It is far
simpler - and, more to the point, simply fair - to ensure that the court will always consider a victim's views on transfer.

With regard to transfers to avoid prejudice, the Advisory Committee concludes that a victim's views could not ""outweigh"" the
defendant's right to a fair proceeding. But no one argues that victims' views will necessarily outweigh a defendant's argument;
the limited point is simply that victims’ views should be considered in the balance. Moreover, a victim may be able to
demonstrate that a defendant's argument 1s unsupported or that other, less burdensome alternatives to [*925] transferring a
case exist. Surely these are sufficiently important reasons to let a victim be heard before a case is moved.

The Advisory Committee also appears to overlook the constitutional grounding that a victim's opposition to a transfer decision
enjoys. In contrast to the Sixth Amendment, which gives defendants in a state prosecution a right to trial in their home state,
379 Article III simply commands that in a federal prosecution, ""the Trial of all Crimes, except in Cases of Impeachment, shall
be by Jury; and such Trial shall be held in the State where the said Crimes have been committed."" 37! This Article III vicinage
right was designed to protect not only the rights of the defendant but also the rights of the community - including victims in the

367 Proposed Amendments, supra note 71.

368 CVRA Subcommittee Memo, supra note 66, at 17-18.
369 Tn the case of a represented victim, the prosecutor could reasonably rely on the victim's counsel to present appropriate arguments.

370 U.S. Const. amend. VI (In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of
the State and district wherein the crime shall have been committed ... ."" (emphasis added)).

371 U.S. Const. art. III, § 2 (emphasis added).

DAVID SCHOEN

HOUSE_OVERSIGHT_017680
"
IMAGES-009-HOUSE_OVERSIGHT_027849.txt,"Night Flight

They say that you can read a person’s feelings on his face. But if so, either
I’m a very good actor — the opposite of what anyone who has worked closely
with me would tell you — or the journalists clustered in front of me weren’t very
good face-readers. They said that I looked defeated. Distressed. Depressed.

Yet as I delivered my brief final statement outside an olive-green cabin at
Camp David, the American presidential retreat in the forested Catoctin hills
north of Washington, I felt none of those things.

Yes, I was disappointed. I realised that what had happened over the last 14
days, or more crucially what had not happened, was bound to have serious
consequences, both for me personally, as Prime Minister of Israel, and for my
country.

But I had been a politician, at that point, for all of five years. By far most of
my life, I had spent in uniform. As a teenager, small and slight and not even
shaving yet, I was one of the founding core of a unit called Sayveret Matkal,
Israel’s equivalent of America’s Delta Force, or Britain’s SAS. It may be that
the way I thought and acted, the way I dealt with danger or with crises, came
from someplace inside me. Even as a young kid, I was always quiet, serious,
contemplative. But my 13 years as a part of Israel’s main special-forces unit,
especially once I became its commander, etched those qualities more deeply.
And they added new ones: a sense that you could never plan a mission too
carefully or prepare too assiduously; an understanding that what you thought,
and certainly what you said, mattered a lot less than what you did. And above
all the realisation that, when one of our nighttime commando operations was
over, whether it had succeeded or failed, you had to take a step back. Evaluate
things accurately, coolly, without illusions. Then, in the light of how the
situation had changed, you had to decide how best to move forward.

That approach, to the occasional frustration of the politicians and diplomats
working alongside me during this critical stage of Israel’s history, had guided
me from the moment I became Prime Minister. In my very first discussions with
President Clinton a year earlier — a long weekend, beginning at the White House
and moving on to Camp David — I had mapped out at great length, in great
detail, every one of the steps I knew we would have to take to confront the
central issue facing Israel: the need for peace.

1
HOUSE_OVERSIGHT_027849
"
IMAGES-001-HOUSE_OVERSIGHT_011606.txt,"Nothing happened for several months. By the early spring of 1973, with my
two-year term as sayeret commander winding down, I assumed the operation
had been vetoed. I could understand why. As we worked on our plan, it had
become clear that getting into the heart of the Lebanese capital, hitting the
apartments and getting out again without starting a minor war would be by far
the most difficult mission we had attempted. I did not doubt that Sayeret Matkal
offered the best chance of success. But it wouldn’t be easy. I figured that
whoever was making the decision had come to the same conclusion.

I was on a weekend away with Nava and Michal in the Red Sea resort of
Eilat when things suddenly began to move. At around noon on Saturday, I got a
call from Talik’s deputy in the kirya. “Ehud,” he said, “we need you back here
as soon as possible.” When I asked why, he said: “You remember how you were
approached by someone with some questions, and you went back to them with a
list of other questions for them to answer?”

I told Nava I’d been summoned to a meeting at the chief-of-staff’s office —
the kind of call of duty that both of us were now used to — and grabbed the first
commercial flight north. It got the the kirya early in the evening, and joined a
meeting that was already well underway. Dado was in his usual seat on the
right-hand side of the table he used for staff discussions, flanked by Talik.
Across from them was Manno Shaked, the officer who had phoned me to tell
me about the Sabena hijacking and who had now succeeded Raful Eitan as
katzhar, overall chief of the infantry and paratroopers. Beside him were the two
Mossad officers with whom I’d had most of my dealings about Beirut. They
were all staring at an aerial photo of the Lebanese capital, with an area marked
in blue pen around a street called Rue Verdun.

I entered and took one of the remaining chairs. Gesturing toward the image
of Beirut, Dado turned to me. “Do you know this place?” he asked. Yes, I said.
I’d seen the photo. Nodding toward the Mossad men, | said: “These two officers
showed it to me.”

“Do you have an idea how to do this operation?” I told him that we didn’t
have a fully detailed operational plan. But I said we’d looked into the problems
we'd face. “We believe we can do it.” When he asked how, I outlined the
approach we’d settled on: a small force, thirteen men, plus two from Mossad to
act as drivers. We would need the Mossad men to go to Beirut ahead of us, and
rent a pair of nice American cars, the kind typical tourists would use. We’d land
on the waterfront, well south of the most built-up parts of the city coastline, and
meet up with the rental cars. When we reached the apartment blocks, three

135
HOUSE_OVERSIGHT_011606
"
IMAGES-005-HOUSE_OVERSIGHT_020465.txt,"see threats everywhere and overreact in ways that both undermine our own principles and
unnecessarily damage the US-China relationship.

The sections that follow lodge recommendations under three broad headings. The first

two, promoting “transparency” and “integrity,” are hardly controversial in the face of the
existing challenge, and they elicited little debate. Sunshine is the best disinfectant against
any manipulation of American entities by outside actors and we should shine as much light
as possible on Chinese influence seeking over organizations and individuals if it is covert,
coercive, or corrupting. We should also shore up the vitality of our institutions and our own
solidarity against Chinese divide-and-conquer tactics. Defending the integrity of American
democratic institutions requires standing up for our principles of openness and freedom,
more closely coordinating responses within institutional sectors, and also better informing
both governmental and nongovernmental actors about the potentially harmful influence
activities of China and other foreign actors.

It was in the third category, promoting “reciprocity,” where the Working Group confronted
the most difficult choices. In a wide range of fields, the Chinese government severely
restricts American platforms and access while Chinese counterparts are given free rein in
our society. Can this playing field be leveled and greater reciprocity be attained without
lowering our own standards of openness and fairness? Since complaints and demarches by
the US government and private institutions have not produced adequate results, is it possible
to get Chinese attention by imposing reciprocal restrictions that do not undermine our own
principles of openness?

The Working Group, not always in unanimity, settled on a selective approach. We believe
that in certain areas the only practical leverage resides in tit-for-tat retaliation. This
would not be an end in itself, but a means to compel a greater reciprocity. The Chinese
government respects firmness, fairness summons it, and American opinion compels it.

Each section of this report offers its own recommendations for responding to China’s
influence seeking activities in ways that will enhance the transparency of relationships,
defend the integrity of American democratic institutions, and grant American individuals
and institutions greater access in China that equates with the degree of access afforded
Chinese counterparts in the United States.

Our recommendations urge responses to China’s challenge that will promote greater
transparency, integrity, and reciprocity. We believe that a new emphasis on such
“constructive vigilance” is the best way to begin to protect our democratic traditions,
institutions, and nation, and to create a fairer and more reciprocal relationship that will be
the best guarantor of healthier ties between the United States and China.

Introduction

HOUSE_OVERSIGHT_020465
"
IMAGES-010-HOUSE_OVERSIGHT_029997.txt,"Taylor Swift's style changes with every guy she dates

Taylor Swift’s relationship status isn’t the only thing that’s evolving
these days. After splitting with boyfriend Calvin Harris after 15 months
of dating, the “Wildest Dreams” singer quickly rebounded with Tom
Hiddleston ...

MORE FASHION

| make thousands by showing off my naked 490-pound body

She sure has a lot to love. Bobbi-Jo Westley, 43, of Pennsylvania, has
eight-foot hips, weighs 490 pounds and a fan club of men who call
themselves “chubby chasers” and can’t get e...

MORE LIVING

Chain of private islands off Connecticut coast up for sale

Who needs the Caribbean when you can buy your own private
archipelago off the Connecticut coast. While some wealthy couples
collect art, Christine and Edmund Stoecklein used their millions to buy a
major portfolio of private islands. Now their secret s...

MORE REAL ESTATE

HOUSE_OVERSIGHT_029997
"
IMAGES-011-HOUSE_OVERSIGHT_032040.txt,"washingtonpost.com / David Nakamura, John Wagner, Nick
Miroff President Trump announced Friday night that a deal was in place
that would avert threatened tariffs on imports from Mexico in exchange
for that...

Here’s everything Apple just announced
at the 2019 WWDC Keynote

HOUSE_OVERSIGHT_032040
"
IMAGES-001-HOUSE_OVERSIGHT_010518.txt,"rTERSON

anted to remove Weiss from the
d way to do it.

Recarey met with ASA Lanna
r boss, Barry Krischer, had asked
and jury. Recarey told Belohlavek
st warrants for Epstein, Sarah Kel-
Beach PD had finished its investi-
d had been waiting since then for
-d her once more to issue the war-
ined, saying that the original offer
ld lawyer had been resubmitted to
»ply came, she would call.

, Recarey received several calls
a that he was being followed bya
-tailed so aggressively that other
road. Recarey ran the plates and
tered to one Zachary Bechard of

ate eye.

Im Beach,” says Tim Malloy, who 7

+ in South Florida at the time.

ht around the time that Michael q
iarry Krischer to recuse himself j
know what Epstein looked like, ©
ures taken by the British tabloids,

ew first broke. But we didn’t haved
1 have was a contact in the hangar

4

a
4)
a

fl
ay

Firtuy Ricu

“I don’t know how much you know about Palm Beach Inter-

national Airport. It’s the kind of place that has private hangars,
valet parking, and waiting lounges that look as chic as anything
youll see in Manhattan. It’s an airport for the rich, basically.
Saudi princes, heads of state. Powerful men who value their pri-
vacy. You can bring limousines onto the tarmac. And we found
out Epstein was very secretive about his dealings there. He didn’t
want anyone to know the tail numbers on his planes.
“But our contact didn't like Epstein. And he was horrified by
how young the girls around Epstein were. So thanks to him, we
had the 727’s tail number, and thanks to one other source—
someone | won't say too much about here—we had Epstein’s
flight plan for a certain trip he was making. We knew he was
going to land at the airport. And so our producer climbed into
the station’s traffic helicopter and told the pilot to hover at five
hundred feet a quarter mile south of the field.

“Our cameraman had a telephoto lens. The idea was to get a
tight shot, on video, of Epstein deplaning. And for a moment we
did get the shot: Epstein, with the collar of his cashmere coat
flipped up over his neck, about to run down the steps into a cart
that was waiting for him.

“Then he saw our helicopter, with the station’s markings.

“I was doing a live voice-over on Epstein’s arrival. It was the

q first video anyone had on him up to that point. But Epstein had

_ tun back onto the plane. Then, during the next commercial
_ break, my producer told me through my headpiece: ‘Jeffrey
4 Epstein wants us to stop taking his picture. In fact, he wants to
talk to you.

q “The cameraman kept rolling. And eventually Epstein got
out, got into a car with tinted windows, and was driven over the

177

HOUSE_OVERSIGHT_010518

"
IMAGES-005-HOUSE_OVERSIGHT_018844.txt,"Marina Market Analysis 33

Maps of Competitive Marinas

St. Thomas

Thatch Cay.

= Oc oral World Ocean Park

ast Thomaey ty
\ ¥ we

aw
Marriott
Frenchma

» St Jame
Manne

irr.
IGY American Yacht Harbor Marina

HOUSE_OVERSIGHT_018844
"
IMAGES-002-HOUSE_OVERSIGHT_012809.txt,"it continues to drive desire. Because the reward system isn’t delivering the goods, excess unfolds driven
by a wanting system that is looking for pleasure in all the wrong places.

When we were hunters and gatherers, excess was an unborn concept. We lived on the edge then,
enjoying scraps of whatever kill arrived on the fireplace, together with the tubers gathered up on the day.
We, at least many of us in the West, live in a world that has a 24/7 cafeteria of food and drugs. It is a want
it-have it culture. As work in molecular biology shows, and as I will pick up in chapter 4, some of us start
off more vulnerable than others, susceptible to sampling from the cafeteria at all hours of the day and
night. The combination of a heavily marketed environment and a biological susceptibility to excess, is a
losing combination for the consumer.

The work on addiction provides a template for thinking about how individuals and societies ignite
a path to excessive harms. In the same way that excessive eating gets going and going out of control
when the dopamine system drives an irrational desire to want more and more food that is liked less and
less, so too is excessive harm often driven by a similar decoupling between wants and likes. Individuals
start with a desire to acquire wealth, to physically harm those who are unlike them, or taste the sweetness
of revenge against someone who acted unfairly. These desires are often linked to an experience of
pleasure or the anticipation of pleasure. But as such actions and their consequences accumulate, the
pleasure derived diminishes, as money is acquired just for the sake of having more, while individuals are
injured, maimed, or killed because this is the policy that must be pursued. Liking 1s no longer part of the
equation, leaving cold desire to do its work at the expense of innocent others who get in the way.

To develop this idea, and especially the link to excessive harm, I have to fill in a missing piece in
our discussion of desire. Everything I have discussed in this section has focused on individuals and their
core corporal needs for survival — or in the case of drugs, recreation. I haven’t said a word about how
desire works in the social arena, whether the same systems are in play when we compare our own desires
and resources with others, or with other opportunities. When desire is motivated by what others have or
have achieved, are the same processes in play as when we eat, drink, or gamble? These are important
questions as the desire to accumulate great wealth or to harm others is often motivated by comparison
shopping, assessing what others have relative to our own status. The most primal starting point for

comparison shopping is the world of hierarchies, a world where the desire to dominate rules.

Power hungry
Whether you are observing a social insect, fish, lizard, bird, rat, whale, monkey, or human, males are
bigger and bolder, more boisterous, brash and brazen, and more motivated to get into a brawl than

females. Though biologists don’t define the sexes based on these differences, they use them to understand

Hauser Chapter 2. Runaway desire 63

HOUSE_OVERSIGHT_012809
"
IMAGES-010-HOUSE_OVERSIGHT_029029.txt,"Harnwell: The third-largest conservative news website is something to be extremely
impressed by. Can you tell for the people here who aren’t within the Anglosphere and they
might not follow American domestic politics at the moment — there seems to bea
substantial sea change going on at the moment in Middle America. And the leader of the
majority party, Eric Cantor, was deselected a couple of weeks ago by a tea party candidate.
What does that mean for the state of domestic politics in America at the moment?
Bannon: For everybody in your audience, this is one of the most monumental — first off,
it’s the biggest election upset in the history of the American republic. Eric Cantor was the
House majority leader and raised $10 million. He spent, between himself and outside
groups, $8 million to hold a congressional district. He ran against a professor who was an
evangelical Christian and a libertarian economist. He ran against a professor who raised in
total $175,000. In fact, the bills from Eric Cantor’s campaign at a elite steak house in
Washington, DC, was over $200,000. So they spent more than $200,000 over the course
of the campaign wining and dining fat cats at a steak house in Washington than the entire

opposition had to run.

HOUSE_OVERSIGHT_029029
"
IMAGES-005-HOUSE_OVERSIGHT_019582.txt,"94 | HOW AMERICA LOST ITS SECRETS

the response of these three officials, which included the admonition
by Litt that “no serious news organization would publish this,” Gib-
son gave the green light to publish the story.

The story broke on June 6. “NSA Collecting Phone Records of
Millions of Verizon Customers Daily,” proclaimed the Guardian
headline. Under Greenwald’s byline, it said, “Exclusive: Top secret
court order requiring Verizon to hand over all call data shows scale
of domestic surveillance under Obama.” Along with it was the FISA
order. The PRISM story broke hours later in The Washington Post.
Written by Gellman and Poitras, it claimed that the NSA and the
FBI were tapping directly into the central servers of nine leading
U.S. Internet companies, which were knowingly participating in the
operation. The latter allegation turned out to be not entirely true,
because some of the Internet companies cited in the story denied
that they had knowingly participated. The back-to-back publication
of these two stories by The Guardian and the Post, however, provided
the explosive “shock,” at least in the global media, that Snowden had
predicted.

© Snowden’s identity had not been revealed in either the Guardian ®
or the Post story on June 6. Snowden, however, insisted on outing
himself. He explained to Greenwald that he needed to “define him-
self” before the U.S. government “demonized” him as a spy. That
self-definition would be accomplished by a twelve-minute video
titled “Whistleblower.” Poitras extracted much of the material for
the video from the twenty or so hours she had shot. In the filmed
interview, Snowden voiced many of the same statements he had
made in his manifesto, so he no longer needed to post that on the
Internet. When he insisted on the immediate airing of the video,
Greenwald told him that by going public in this way, he was saying
“fuck you” to the American government. Snowden replied, “I want
to identify myself as the person behind these disclosures.”

On June 9, the video was posted on the Guardian website with the
Freedom of the Press Foundation getting an on-screen credit. “My
name is Ed Snowden,” the extraordinary disclosure began. He then
described how the NSA was watching U.S. citizens. Even though the
NSA press spokesperson subsequently disputed some of his more
dramatic claims, such as his assertion that he had the authority at

| | Epst_9780451494566_2p_all_r1.z.indd 94 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019582
"
IMAGES-001-HOUSE_OVERSIGHT_011160.txt,"Table 1: How Changes in Fertility and Mortality Affect Fitness
Effect Additive Reproductive Discount Relationship

on change value factor to donor
Donor

A. fert. Am) 1 ene) 1
B.mort. AP yh Ala) +-der) i
Recipient

C. fert. Am) 1 e—P(2\) +7) r
D.mort. AP() y) eo Ale +7-+de) r

Notes: The altruist allele will increase (decrease) in frequency if the sum of
row products is positive (negative). The notation is defined in the text. For
simplicity, I assume that the sex ratio at birth is unity, that effects on fertility
are brief, that these effects are small enough that second-order terms in Am and
AP can be ignored, and that a single recipient is affected by each altruistic act.
Source: Rogers [14, Table 1]

the recipient, and v denotes the reproductive value (R. A. Fisher, 1958). It is defined by

_ ae e PY g(y)Mmg (y)
7 e~ Pl (x)

(4)

where p is the rate of population growth, [,(y) the probability of living to age y, m,(y) the ex-
pected number of offspring produced at that age, and the subscript g indicates the individual’s sex.
The reproductive value can be interpreted as the expected present value of an individual’s future
contributions to the gene pool.

A gene that encourages the donor to undertake this action will be favored by natural selection
if the sum of the row-products in table 1 is positive, or disfavored if that sum is negative.

2.2.2 The MRS in fitness

An interaction is selectively neutral—having no effect on fitness—if the sum of row-products in
table 1 is zero, Le. if

+ Am eRe Ot p 4 A PA) yA POM +) 9 (5)
Here, I have assumed that effects on mortality are brief so that dr ~ 0. When this equation
holds, the interaction (or investment) described above moves us along a fitness isogram. Thus, the
equation holds the key to the slope of this isogram, the MRS in fitness. But before proceeding, it
will be useful to recast the equation in terms of changes in consumption.

I now assume that fertility and mortality are both differentiable functions of consumption.
P = P(z,k)

m

m(a, K)

HOUSE_OVERSIGHT_011160
"
IMAGES-005-HOUSE_OVERSIGHT_020303.txt,"151

demonstrated the NSA had few, if any, fail-safe defenses against a would-be leakers of
communication intelligence. In the new domain of cyber warfare, conventional defensive rules do
not apply. “There are no rivers or hills up here. It’s all flat. All advantage goes to the attacker,”
Michael Hayden said in an interview in 2015 with the publisher of the Wall Street Journal. His
point was that since there are no defensive positions, cyber warfare must rely on an aggressive
offensive. If fully successful such attacks would so deeply penetrate the defenses of an adversary
intelligence organization that it could not mount any of its own unexpected cyber attacks Such
offensive capabilities would make it difficult, if not impossible, for adversary services to recruit a
spy in the NSA. .For example, the CIA penetration of the SVR in 2010 prevented it from using its
the sleeper network against U.S. targets. “The best defense in this game may be an
overwhelming offensive,” a former intelligence official said to me. “but that strategy only works if
we can keep secret sensitive sources.”

Central to this offensive strategy was the NSA’s National Threat Operations Center in Oahu,
Hawaii. It employed threat analysts to surreptitiously monitor the secret activities of potential
enemies, mainly China, Russia and North Korea. A large part of their job was to make transparent
to the US the hostile activities of the Russian and Chinese services so that they posed little, if any,
intelligence threat to America. This strategy worked so far as the NSA guarded itself but it also
raised the issue, as the Roman Juvenal famously warned “Quis custodiet ipsos custodes?” Who
will guard the guards themselves?

Less than three years after the NSA had received the Poteyev warning, a 29-year old civilian
trainee at the National Threat Operations Center, demonstrated its glaring vulnerability. Instead
of guarding secrets, Snowden stole them. General Hayden described the Snowden breach as the
“most serious hemorrhaging of American secrets in the history of American espionage. Among
the documents taken in this security breach were lists of secret NSA sources in China and Russia.
Despite all the measures the NSA had taken to protect its vital secrets, a lowly civilian employee
had walked away with the keys to its kingdom In the hands of their intelligence services, these
stolen lists had the potential to totally upend the NSA’s offensive strategy. Since Russia and
China have an intelligence treaty for sharing such spoils between them when it is to their mutual
advantage, it had to be assumed that if either country had acquired the secrets from Snowden,
they would be shared between them altering the balance of power between the communication
intelligence services of the US and its adversaries.

Following the Snowden breach both China and Russia had immense successes d in breaking
through the defenses of US government networks, including the breaches in 2014 and 2015 of
U.S. personnel files and background checks. When I asked General Hayden in June 2015 if these
successes were made easier by those documents compromised by Snowden, he replied, “Even
though I cannot make a direct correlation here, unarguably our adversaries know far more about
how we collect signals intelligence than they ever did before [Snowden].”

HOUSE_OVERSIGHT_020303
"
IMAGES-003-HOUSE_OVERSIGHT_014831.txt,"MY Tae Was eC WITN EMoamrassmMent OUT I TSIC LINGEr IMMENse pressure Ta aiease
them, she told the Mailon Sunday

“The whole lime ibwas going on, they were pramising me the world, thet lcd trevel
weith Jellrey on his private jet and have a well-paid orelession’

Epstein paid her $200 for whal he celled he ‘eretic message’ and Lold her Lo return
the next day. She spent the next four years with Epstein. for three of which she was
under Florida’s age of consent - 18.

“Basically. | was training to be a prostitute for him and his friends who shared is
interest in young girls! she sovs.

That stage of his alleged sbuse sturted after twe years when he sskec her tea iy to his
Cernbbean island and makes briend of his ‘feel how you make me eel’.

She seys she was given to men. aged [ram Lheir 40s lo heir Gs, erther on the island
oron Epstein’s Mew Mexico ranch,

Pampering a prince

Virginia says she met Prince Andrew three times. First, when she accompanied
Fpstein on a six-week trip to Furope and North Africa in 2001, they went te Ghislaine
Maxwells London house.

The following day, Andrew arrived and Migs Maxwell served tea and biscuits lo the
four of ther.

Miss Maxwell invited the prince to guess Virginia's age end he correctly said “77'. at
which Miss Maxwell joked that Jeffrey would ‘soon have ta trade her in’.

Atter dinner and a trip te Tramp nightclub where she danced with the orinee. trey
returned to Miss Maxwell's house. They allwent upstairs and Virginia askec Fpstein
to take a oicture of her with Andrew bo ‘shew my mer’.

She adds: ‘Ghisiaine and Jeffrey lef us after that, and ister Ancrew left! The
following morning, Maxwell bold her: “You did well. He had fun

nthe last leg of the trip, Epstein paid her $13,000 which she described es ‘smazing
money, more than I'd ever made ona trip with him betere’.

She seys she met 4ndr
leatne

“a second time at Easter 2001, fincing him sitting in a
armchair at Epsteie's Manhattan home.

Miss Maxwell hacl civen him the prince a Spitting Image puppet of himself anc
another member of Eostein’s entourage, Johann Sjoberg, was sitting on his knee

Miss Sjoberg, who was 21, herself described the incident to the Mail on Sunday three
yesrs ago. She said Miss Maxwell made Virginia siLon Andrew's olher knee and then
she ‘put the ouppet’s hand on Virginia's oreast. then Andrew put his hand en my
breast’.

She added: ‘it was a great joke. Fverybody laughed? [he Joke’ earned virginia $400
from Epstein.

Her final sneeunter with the prince wae on Eseteins Carisbean island, by which time
she was 18.

There is na suggestion that there was
ever any sexusl contest between her and
the prince or that Andrew know Fpstein
had paid her to howe sexual contact with
his Iriends.

By now, she seys, Cpstein wes hinting
she wes ‘too old! for him altrough he
ane Miss Maxwell onee disgusted her by
suggesting she hada child oy him.

“They seid | would hove te sien a
contract relinquishing rights te the child
and consenting to setfrey having as
many relationships as he iked she says.
“Ihweae a smack in the face!

For her 19th birthday, Eoglein flew ber lo
Thailand to take # massege course. She
meter Australian martial arts expert
there ane married hire ten days larer.

Counselling: Virginia at her mother's hame at
Palm Beach in 1958

Fostein’s plea bargain spared Virginia the
ordeal of naving Le testify against him in
court.

But she says she is ‘appalled’ by Lhe light senlence he recemed. ‘Ta me il’s seying,
“We are abowe the law"", Jottey is a monster

An offender not a predator

Frigads ing st Epstein is looking tor @ new beginning’ butit has net started with any
show of remorse from the soatoriously arraqant tyeoon.

Stogped by a reonrter in New York last week. be insisted: ‘I'm net a sexual predater,
Im en offender... it’s the dillerence between a murderer ance 9 oerson who steals 2
bagel!

Case 1:15-cv-07433-RWS Document 751-11 Filed 03/17/17 Page5of8

Hollywood

Michelle steps back
inta the spodight: Mes
Obama makes guest
appaaranca on
MaseerChet Junior
talling young chat: te
peck healthier food

+ OMGigi! Supermodel
Hadid displays hier
deavage, taut abs and
Jean legs Ina range of
anticing ansambles 2s
she poses for new
fashion eampaign

} Harper Beckham is her
mathar's blggeed fan ae
‘the five-year-old reveals
that shejs‘escited’ fo
wear Wieterla's new
designs for Target

Poe's my soulmate’:
Victoria Eieckham
prslese her IMeredlale
husband! David as she
reveals she's inspired by
his Hindneas avery day

berm not sure he'll be
Changing diapers: Cindy §
Crawford's husband
Rande Gerber weighs In
anthotype of dod his
pal George Clooney. 53,
wills

* Fake locksmith secretly §
filmed Brigitte Bardot
before trying to-sell
footage of intimate
moments after ticking
hic way ita her St
The pez home

b Hey gid! Dazeling Eva
Mendes returns to thie
spotlight sfter spending
six montis wih her
children while Ryan
Gosling hit the La La
Land pramo trail

+ EXCLUSIVE: Meat
Dushanka Foon, busty
night club promoter who
hand-peked sexy
models for Justin
Bieber's Aussie boot
party

Fltwas 2 bly shock""
Maksim Cheerkovskiy
reveals ‘crazy’ health
seare aftar baby son
Shal aiken te ER
Rowranikey facia heint
pee

D MWeeP! Julia Louis
Drevius goes wild as
Stunning last second
mistake allows.
Northwestern and her
Son to dalm first ever
Merch Madnass win

* Gwyneth Paltrews and
Chris Martla FIMALLY
sell their NVC penthouse
after B4million cut anda
year on the market
Tancnsell belies sar it
onmier Tor tor irendiy exes

} tars Reid looks. glam In
sequin blazer os sha
Sores up te mystery
man at opening af TAC
venue in Hollywood

Go Green

Fire all 4

SEARCH ST. RATRICK'S
ERSORIES

} Ryan Lochts pools cn
the PDA with his
pregnant lances Kayla
Rae Reid az couple
enjoy cate night af LA
bash

Liscralet swiryrer

Firs about 25 percent of
thair income’: Kim,
Kourmey, and Khioe
Kardashian make SIX
FIGURES for
sponsored post on

social madi

HOUSE_OVERSIGHT_014831
"
IMAGES-001-HOUSE_OVERSIGHT_012469.txt,"c™

10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

oy

oOo ON OF ON Rh WwW DN

~0929104. TXT
deposition, leave. But you'l| be back here.

MR. LEOPOLD: Excuse me. if | could just
make the record, instead of interrupting me,
please, that's what we do professionally. There's
a recorder here. I|'m certainly not being
obstructionist. I|'m going to make the record.

But we're going to act with some semblance of
professionalism, hopefully, by all parties in the
room. That goes to me, that goes to your
co-counsel sitting behind you and next to you, the
court reporter and everyone else in the room.
Everyone goes entitled to that.

You've asked a question. She answered the
question fully and she's not going to be harassed
because you don't like the answer. If you want to
follow up --

MR. TEIN: Stop engaging me. Make your

87
speech and then we'!l! ask the questions.

MR. LEOPOLD: Well, you won't let me finish
making the objection, so it's difficult to do
that. But if you want to follow with an
appropriate question, feel free to do that. But
we're not going to harass the witness.

MR. TEIN: 1 disagree with everything
you've said. Let's ask the questions. Okay?

MR. LEOPOLD: Ask an appropriate question.

MR. TEIN: Are you going to stop talking?

MR. LEOPOLD: I'm going to make -- protect
my client and make appropriate objection, but

there's not a question pending right now.
Page 74

HOUSE_OVERSIGHT_012469
"
IMAGES-003-HOUSE_OVERSIGHT_014825.txt,"Case 1:15-cv-07433-RWS Document 751-10 Filed 03/17/17 Page 3 of 4
But the woman's allegations have previously been firmly rejected by Buckingham Palace.

""It is emphatically denied that the Duke of York had any form of sexual contact or relationship with Virginia Roberts.
Any claim to the contrary is false and without foundation,"" the palace said early this month.

Statement: | just called him 'Andy'

Prince Andrew is named in the court filing in Florida as one of a number of prominent people who allegedly had
sexual contact with teenage girls through self-made billionaire Jeffrey Epstein, who pleaded guilty some years ago in
Florida to a state charge of prostitution solicitation.

CNN was unable to reach Martin Weinberg, Epstein's attorney, on Thursday.
In her first sworn statement to the court, Jane Doe No. 3 gave more details of the alleged encounters.
""Epstein made me have sex with Prince Andrew several times,"" she said, according to the court document.

""| had sex with him three times, including one orgy. | knew he was a member of the British Royal Family, but | just
called him ‘Andy.’ ""

One day when she was in London, she said, Epstein told her she would be meeting a ""major prince.""

She continued: ""Epstein told me 'to exceed' everything | had been taught. He emphasized that whatever Prince
Andrew wanted, | was to make sure he got.""

‘Sexual interests in feet'

When the prince arrived, she was introduced, she said, and ""we kissed formally, cheek to cheek."" The group went
for dinner and to a nightclub where she was served alcohol before returning to the townhouse. The picture referred
to in the letter, of the prince with Roberts, was taken there, she said.

After the pair were left alone, she said, ""We went to the bathroom and bedroom, which were just steps away from
where the picture was taken. We engaged in sexual activities there. Afterwards, Andy left quickly with his security.""

She said she had reported back to Epstein on the encounter next day, telling him, ""It went great.""

""| told Epstein about Andy's sexual interests in feet. Epstein thought it was very funny. Epstein appeared to be
collecting private information about Andy,"" she added.

Roberts also gave details of two more alleged occasions when the pair had sex. One was in Epstein's New York
mansion in spring 2001, she said, when she was 17.

The third and last occasion was at an orgy involving nine girls on Epstein's private island in the U.S. Virgin Islands,
her statement said.

""| was around 18 at the time. Epstein, Andy, approximately eight other young girls, and | had sex together.""

The other girls, who appeared to be under 18, were ""European looking and sounding"" and didn't really speak
English, she said. She said she ""felt disgusted"" after the orgy.

‘Voluntarily tell the truth’

Roberts rejected the palace's denial of the allegations and said she hoped Andrew would agree to be interviewed
under oath. ""I did have sexual contact with him as | have described here -- under oath,"" she said.

2/3

HOUSE_OVERSIGHT_014825
"
IMAGES-005-HOUSE_OVERSIGHT_018850.txt,"Land Description and Analysis 39

Cadastral Map

és ae Bin tod .
“ty | Intermodel! Marine, ae

a f ;
Note that the area outlined in yellow above only includes the (upland) land area of the subject
property and not seabed beneath the marina.

irep
IGY American Yacht Harbor Marina fire!

HOUSE_OVERSIGHT_018850
"
IMAGES-005-HOUSE_OVERSIGHT_019596.txt,"108 | HOW AMERICA LOST ITS SECRETS

According to one Aeroflot official, ordinarily all international pas-
sengers are required to have a valid passport as well as a visa to the
country of final destination. Snowden had neither a valid passport
nor a visa. Still Snowden was able to board the flight to Moscow.
Aeroflot, a state-controlled airline, presumably responds to the Rus-
sian government on matters where Putin has given his approval.

Snowden first met Harrison in person on June 23. She was wait-
ing for him in the car that Jonathan Man had arranged to take him
to the airport that morning. Snowden was dressed in a gray shirt
and khaki slacks. Harrison was dressed in jeans and flip-flops. She
said she had chosen this dress style so that they would blend in at
the airport with vacationing tourists. She had financed the trip, and
she was apparently now calling the shots. Harrison’s concern was
that they might be arrested at the airport, so Man accompanied them
through passport control. He was able to do this because he bought
a ticket on the cheapest available international flight. Harrison had
given Man a phone number to call if they got arrested. When she
and Snowden boarded the flight at 12:45 p.m., Harrison effectively

® became Snowden’s second “carer”—a job that would require her ©
presence in Moscow for the next four months.

Snowden had pretty much remained silent until the plane took
off. The first full proper sentence she heard from him as they headed
for Moscow, as she recalled, was “I didn’t expect that WikiLeaks was
going to send a ninja to get me out.”

Meanwhile, Assange continued creating “distractions,” as he put
it. On June 24, a booking was made for Snowden on an Aeroflot
flight to Cuba, and this information was relayed to the foreign press
organization in Moscow, resulting in over a dozen reporters flying
to Havana on the flight. Snowden, of course, never showed up for it.
“In some of our communications, we deliberately spoke about that
[flight] on open lines to lawyers in the United States,” Assange said.
One subsequent piece of his misinformation was that Snowden was
flying to Bolivia on the private plane of the Bolivian president, Evo
Morales (who was then in Moscow for a meeting). That misinfor-
mation had the desired effect. U.S. allies in Europe, including France,
Spain, and Portugal, refused to allow that plane to fly through its
airspace, forcing the plane to land in Austria. This misinformation

| | Epst_9780451494566_2p_all_r1.z.indd 108 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019596
"
IMAGES-005-HOUSE_OVERSIGHT_018688.txt,"Asher Bauer: http://carnalnation.com/content/49458/1067/word-day-cis -- [back]

2. Analysis of the ""virgin"" shoot at Kink.com:
http://missmaggiemayhem.com/2011/01/12/virginity/ -- [back]

3. Most women don't achieve orgasm through penis-in-vagina sex alone:
http://www.scarleteen.com/article/advice/i_cant_orgasm_from_intercourse_and_its_ruini
ng_my relationship -- [back]

4. Asexual writer discusses sex-positive feminism:

http://www.feministe.us/blog/archives/2012/02/07/an-asexual-map-for-sex-positive-
feminism/ -- [back]

KOK ok

S&M: S&M Superpowers

1. Study demonstrates that BDSM desires do not arise from abuse:
http://www.news.com.au/top-stories/bondage-lovers-normal-maybe-even-happier/story-

e6frfkp9-1111117296864 -- [back]

2. A post of mine on nonsensical stigma, in the context of whore stigma:

http://clarissethorn.com/blog/2010/12/17/whore-stigma-makes-no-sense/ -- [back]

3. Psychology paper ""Learning from Extraordinary Lovers"" by Peggy Kleinplatz:
http://www.ncbi.nlm.nih. gov/pubmed/16803770 -- [back]

4. Study finds that consensual S&M increases intimacy:
http://www.ncbi.nlm.nih. gov/pubmed/18563549 -- [back]

TK OK ok

S&M: BDSM Can Be ""Love Sex"" Too

1. Rachel Rabbit White's ""Lady Porn Day”: http://rachelrabbitwhite.com/ladypornday/ --
[back]

te ok ok
S&M: Body Chemistry and S&M

1. Awesome page on aftercare:

http://www. leathernroses.com/generalbdsm/chrismaftercare.htm -- [back]
2. EduKink is a pair of San Francisco S&M educators: http://www.edukink.org/ -- [back]

KK Ok

Orgasmic ""Dysfunction"": A Unified Theory of Orgasm

1. A tactic called ""gaslighting"" is a common one used by emotional abusers:

http://www.feministe.us/blog/archives/201 1/11/21/one-abuse-script-with-many-faces/ --
[back]

2. Kink Aware Professionals: https://ncsfreedom.org/resources/kink-aware-professionals-

HOUSE_OVERSIGHT_018688
"
IMAGES-001-HOUSE_OVERSIGHT_011174.txt,"a

jenmili RT @iamsrk: | c this trend in News where leaving of 23 Jun 2016, | abina™? 2444 | positive
someone or something is headlined as Rexit or 01:46 - CEST | PERAS
Brexit.So if | leave from sumwhere am la€; a 2aen
MarkHolloh | Liz Huirley bares all to back Brexit 23 Jun 2016, | Liverpo 0 | positive
ead https://t.co/QATyDOymiR @MailOnline.well done 01:46 - CEST | ol,
Liz.you are a true Brit.believe in Britain #VOTELEAVE England
GreenSamP | RT @arjan____: the ones that stand to benefit from 23 Jun 2016, | Plymout 5|NA
AFC Brexit are unsavoury. Racism, nationalism and fascism | 01:46-CEST | h
benefit from Brexit
Toronto_nia | #Brexit... big deal! Planet earth will keep turning 23 Jun 2016, | Toronto 0; NA
n #Cartoon for laughs via @Toronto_nian Toronto's 01:46 - CEST | The
own! https://t.co/ulTSzvJxp9 Good!
belkgarri RT @CNBC: UK Brexit campaign's lead narrows ahead | 23 Jun 2016, 5 |NA
of referendum: TNS poll https://t.co/w7WRb2ROIF 01:46 - CEST
JJDoomydas | RT @Mark_Beech: A propos @garbage and #Brexit 23 Jun 2016, | Maine 767 | NA
posts tonight, heavy British rain might affect turnout? | 01:46 - CEST
https://t.co/w4TFDekFXL
stevegb007 | UK WAR VETERANS SLAM PLANS FOR EMERGING EU 23 Jun 2016, | U.K 0 | NA
1 ARMY AHEAD OF BREXIT VOTE 01:46 - CEST
https://t.co/Tv8DNzprxY via @YouTube
DarioAtenci | @guardian has presented a summing up of its point of | 23 Jun 2016, | Manhat 0 | negative
oA view about #Brexit vote tomorrow's. ""Vote to 01:46 - CEST | tan, NY
Remain"" and Why? https://t.co/GdXNtVYLFp and
Panama
SamBaker RT @jpublik: That #Brexit manifesto in Private Eye 23 Jun 2016, 2295 | negative
#VoteRemain #EUref https://t.co/QU1fjwvk6G 01:46 - CEST
MitulRach1 | Today is the Day, Who is everyone going to vote for?? | 23 Jun 2016, 0 | negative
BREXIT or REMAIN?? Who will you vote for?? 01:46 - CEST
TheCutbank | Thanks CBC 'It's a dead heat’: What you want to know | 23 Jun 2016, | Prince 0 | negative
s about the Brexit vote https://t.co/SMVZETx8fQ, 02:20- CEST | George,
#Brexit BC
Lesism RT @ethicistforhire: Can't believe it's called Brexit, 23 Jun 2016, | Carlisle, 39 | negative
and not EUthanasia... 02:20-CEST | England
Candyo4u24 | RT @AMTrump4PRES: I'd like 2 dedicate this tweet 2 23 Jun 2016, | Connect 180 | positive
9 former lovely cultures that will only B found between | 02:20-CEST | icut,
the pages of a book. #Brexit httpsa€ | USA
marketstock | New post: ""Traders: Here's where to find some 23 Jun 2016, 0 | positive
news protection for your portfolio ahead of Brexit"" 02:20 - CEST
https://t.co/kDAMhZGalv
marketstock | New post: ""How are you positioned ahead of the 23 Jun 2016, 0 | positive
news Brexit referendum?"" https://t.co/5tzxHffYEX 02:20 - CEST
moshtag203 | RT @alexbland: #Brexit #IndependenceDay 23 Jun 2016, 7 | neutral
0 https://t.co/v9TrmBwSZg 02:20 - CEST
Charlie_Led | RT @PeterLBrandt: #EFACTORMEMBERS Going home 23 Jun 2016, | Panama 9 | negative
ezma tonight prior to #BREXIT with lightest leverage in 18 02:20 - CEST
mos. at 5% margin to equity and no financa€ |
marketstock | New post: ""Cramer: Brexit fears are totally 23 Jun 2016, 0 | negative
news overblown"" https://t.co/4ZqkAMAb5N 02:20 - CEST

HOUSE_OVERSIGHT_011174
"
IMAGES-005-HOUSE_OVERSIGHT_020317.txt,"165

companies acted less like management consultants and more like temporary employment agencies
in finding for the NSA the computer specialists, who had the necessary security clearances.
Unlike intelligence services, their fate depended on turning profits. Since the value of their
contracts was largely limited by competitive bidding, their business plans were predicated on their
ability to minimize the costs of fulfilling these contracts. Their principal cost was the salaries they
paid their independent contractors. Their business plans therefore depended on finding large
numbers of computer technicians in the private realm willing to work at a NSA base at relatively-
low wages. This task became more difficult as many potential recruits could find higher paying
employment with more of a future in the burgeoning private sphere. They could also increase
their revenue streams by getting additional contracts which, in turn, meant recruiting even more
workers. It was hardly a business plan which could afford to give priority to quality control. In
the private sector, there is usually an unambiguous external measure of failure. For example, for
an automobile company such as General Motors can measure the performance of its executive by
reckoning it change in net income. With secret intelligence work, the metrics for failure are far
less clear. This curious aspect of secret work was part of the advice given to White House lawyer
in the Obama Administration seeking a position with the NSA in 2012, He was advised that
among the advantages of working for a super-secret agency was that if one errs or has a failure.
“Tt stays secret.” He later found out in the Snowden case which exploded during his tenure at the
NSA, that not all failures stay secret.

Even so, the NSA cannot always find convenient metrics to measures its own failures. For
example, it can quantify the amount of data it is intercepting, it cannot count the intelligence it
misses. There is no getting around the a priori proposition in the intelligence game: “what is
successfully hidden is never found.” But there is a failure that cannot be hidden: a security
breach in which a perpetrator uses NSA data to publically expose the NSA’s sources. Up until the
Snowden breach in 2013, the NSA had had experienced only one such a public failure. It was the
capture by North Korea in 1968 of the USS Pueblo, which had been carrying out highly-sensitive
electronic communications interception for the NSA. Because the Pueblo crew failed to destroy
the NSA’s encoding machines, which several days were flown to Russia. The stakes were so high
that the Pentagon even considered using nuclear weapons to limit the damage of the seizure. The
Snowden breach was much worse because, among the thousands of documents he stole, he
selected lists of the NSA’s secret sources in adversary nations. Making matters worse, the
Snowden breach was a failure that directly traced back to Booz Allen Hamilton, the NSA’s
largest contractor.

Such a failure calls into question the vexing issue of privatizing secret intelligence. Booz Allen,
like all other outside contractors, was in the business to make money. Indeed, it had found
government contracts so much more profitable than its work in the private sector that it sold its
private sector unit to Price Waterhouse. The profitability of government work led the Carlyle
group’s hedge fund to acquire a controlling stake in Booz Allen in July 2008. By 2013, it had
increased its revenue by $1.3 billion by expanding its government contracts. Even more

HOUSE_OVERSIGHT_020317
"
IMAGES-001-HOUSE_OVERSIGHT_011612.txt,"building, I stayed with Mookie. His job, along with Yoni in his expanded team,
was to deal with Abu Youssef, the Black September operations officer. The
concierge must have been on a coffee break. The lobby was empty. The door
was unlocked, so they sprinted toward the interior staircase and made their way

up.

Adwan, the Fatah military man, and Kamal Nasser lived next door. Adwan,
Amitai’s target, was on the second floor. Nasser was on the third. As the teams
raced into the other building, Amiram and I posted ourselves near one of the
terrace pillars, occasionally exchanging a few words of what we hoped would
pass as girl talk. The SEAL officer and Dr Katz were near the top end of the
street as lookouts. We seemed seconds away from what had all the makings of
the operation we’d rehearsed back in Tel Aviv. The one major problem I’d
expected — security guards posted outside — hadn’t materialized. We’d been told
by the Mossad to look out for a grey Mercedes, but it wasn’t there.

The next stage was for each team leader to press the transmit button three
times on his radio. When I’d heard from all of them, I would send a signal back.
Then, at the count of five, each of them was supposed to start the attack.
Mookie’s signal came first. Yet before either of the other two teams checked in,
the trouble began. Suddenly, the door of a red Renault flew open almost directly
across the street from where Amiram and I were standing. A tall, sturdy, dark-
haired man climbed out. He looked across at us. He opened his leather jacket.
He pulled out a pistol and started to approach us. “in breirah,” I whispered to
Amiram. “No choice.” To this day, I remember the shock on the man’s face as
he watched us — a pair of 30something women — open our jackets and pull out
Uzis. Fortunately for him, we’d had to make allowances for concealment in
choosing our weapons. We’d left the Uzis’ stabilizing shoulder braces behind.
As our first shots hit, he had half-turned to run. Though wounded, he somehow
got back in the car. We kept shooting but he managed to drag himself out of the
far door and roll behind a waist-high wall on the other side of the street. One of
our shots obviously hit the electrical innards of the Renault, because the car
horn began blaring full-blast, as if someone had set off a modern-day car alarm.
So much for the element of surprise.

I saw three sets of lights suddenly come on in the otherwise dark apartment
buildings. They were in the flats that Mossad had identified. At least that part of
the plan was intact. These were the Palestinians we were after, and it seemed
they were at home. Seconds later, I heard an explosion. It was from Abu

141
HOUSE_OVERSIGHT_011612
"
IMAGES-010-HOUSE_OVERSIGHT_029983.txt,"From: Reid Hoffman

Sent: 7/6/2015 5:04:31 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: RE: ICYMI

slow progress.
planning to see you in August.

Hope you're well.

From: jeffrey E. [jeevacation@gmail.com]
Sent: Sunday, July 05, 2015 2:30 PM

To: Reid Hoffman

Subject: Re: ICYMI

heyy it looks like your diet program has worked

on Thu, Jul 2, 2015 at 12:03 AM, Reid Hoffman lly

wrote:

ICYMI

My occasional roundup of interesting links and
writing I've shared - in case you missed them. :)

New and Notable

* we are thrilled to welcome Sarah Tavel to Greylock Partners. LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8fF199d93868&i d=fd2b3c4c94&e=5c5da67d46>

* And also very excited to welcome lynda.com<http://lynda.com> to the LinkedIn team!
LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8f199d93868&i d=c5d4aeaddb&e=5c5da67d46>

*  change.org celebrates its 100 million users milestone. Emily Chang discuss this and more with CEO
Ben Rattray on Bloomberg West: LINK<http://reidhoffman.us7.list-
manage.com/track/click?u=3a27d4e452178cc8f199d9386&i d=1lcecbh3c616&e=5c5da67d46>

* Byron Auguste launched Opportunity@work, a new civic enterprise aimed at “rewiring the U.S. labor
market."" Tom Friedman's post: LINK<http://reidhoffman.us7.list-
managel.com/track/click?u=3a27d4e452178cc8F199d9 38681 d=5656e94c3e&e=5c5dab67d46>

* Mimi Ito launched Connected Camps, a summer online coding camp using Minecraft.
LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8fF199d93 868i d=fa8cele400&e=5c5da67d46>

worthwhile Reads

* Jeff Weiner: How LinkedIn is Helping Power the President's Tech Jobs Initiative
LINK<http://reidhoffman.us7.list-
managel.com/track/click?u=3a27d4e452178cc8F199d9 38681 d=604ec30797&e=5c5dab67d46>

* The New Yorker: R U There? - Nancy Lublin and Crisis Text Line LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8fF199d9386&i d=0e06052ca2&e=5c5da67d46>

ia Fast Company: Inside Obama's Stealth Startup LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8fF199d93 8681 d=99ca65 F63c&e=5c5dab67d46>

* Jerry Chen: The Age of Developer-Defined Infrastructure LINK<http://reidhoffman.us7.list-
manage2.com/track/click?u=3a27d4e452178cc8F199d93868i d=266fd91F7c&e=5c5dab67d46>

* Sheryl Sandberg's powerful tribute to Dave Goldberg. LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8fF199d93 8681 d=9e42d166b8&e=5 c5da67d46>

Some of My Recent Essays

* Wired: why the block chain matters LINK<http://reidhoffman.us7.list-
manage.com/track/click?u=3a27d4e452178cc8fF199d93 868i d=13d941la4df&e=5c5da67d46>

* Financial Times: Acquiring proven entrepreneurs is a smart way to innovate
LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8F199d93 868i d=87d9caa3fO&e=5c5da67d46>

* Press Start to Continue: One More Role of Founders LINK<http://reidhoffman.us7.list-
manage. com/track/click?u=3a27d4e452178cc8fF199d93 86871 d=30298b2c77&e=5c5dab67d46>

To Watch

HOUSE_OVERSIGHT_029983
"
IMAGES-005-HOUSE_OVERSIGHT_020471.txt,"12

Influence Efforts after Establishing Official Relations, 1979-1988

As the Carter administration began moving toward full diplomatic recognition of the
PRC, it withheld many of the details about its plans from Congress. One of the largest
unresolved issues was the fate of Taiwan, in which Congress took a special interest. The
United States had already dropped recognition of Taiwan at the United Nations, and now
many in Congress worried that the United States would move to completely abandon the
island. In response, Congress passed the Taiwan Relations Act in 1979, which underlined
the importance of the United States keeping an ongoing relationship with Taiwan and
continuing to provide weapons for its defense.

After formal diplomatic relations were reestablished, China responded in the 1980s by
expanding the size and capacity of its Washington embassy staff dedicated to dealing with
Congress. Chinese officials lobbying Congress viewed with dismay the rise of pro-Taiwan
independence groups among Taiwanese Americans, such as the Formosan Association

for Public Affairs, which demonstrated an ability to promote their agenda despite the

fact that the United States had broken ties with Taiwan. Beijing would go on to borrow a
page from the Nationalist government’s playbook by beefing up a diplomatic arm capable
of building closer relations with important congressional members and staffers.’ Since
then, the Chinese government has welcomed numerous US delegations composed of both
congressional members and staffers. The main host in China for such delegations has been
the Chinese People’s Institute of Foreign Affairs (CPIFA).? Founded in December 1949, this
organization focuses on international issues and foreign policy research and on conducting
international exchanges of officials and expanding people-to-people diplomatic activities.
This institute also works to establish contacts with foreign political activists, diplomats,
and other distinguished individuals while organizing public lectures and symposiums on
academic subjects and international policy affairs.

CPIFA is a so-called united front organization, similar to those found in the former Soviet
Union and other Leninist states that seek to opportunistically build alliances wherever
they can. Such organizations, or GONGOs (“government-organized non-governmental
organizations”), carry out government-directed policies and cooperative initiatives with
influential foreigners without being perceived as a formal part of the Chinese government.
CPIFA’s experience in dealing with foreign visitors is broad. Between 1972 and 2002, it
hosted more than four thousand leading Americans in China. Being well connected with
the Chinese government’s State Council and the Ministry of Foreign Affairs, it is positioned
to organize meetings with high-level officials when the Party deems it in its interest to do
so. The funding arrangements for congressional staff delegations visiting China usually
provide for their travel to be paid by the US side, so as to avoid falling victim to ethics
committees and overseers or violating rules regarding conflicts of interest and foreign
lobbying. CPIFA often assumed in-country expenses.

Congress

HOUSE_OVERSIGHT_020471
"
IMAGES-011-HOUSE_OVERSIGHT_032054.txt,"From: Weingarten, Reid

Sent: 2/16/2017 11:51:27 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: RE: Re:

Would be conflicted out of everything to come

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Thursday, February 16, 2017 3:36 PM

To: Weingarten, Reid

Subject: Re:

Yes

On Thu, Feb 16, 2017 at 3:17 PM Weingarten, Reid EE wrote:

| know...| just saw that and almost threw up....also have to decide today whether or not to take flynn

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Thursday, February 16, 2017 3:14 PM

To: Weingarten, Reid

Subject:

http://www.politico.com/story/2017/02/alexander-acosta-trump-jeffrey-epstein-plea-235096

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by

HOUSE_OVERSIGHT_032054
"
TEXT-001-HOUSE_OVERSIGHT_031195.txt,"From: Darren Indyke 
Sent: 1/27/2016 5:02:21 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Fwd: ST THOMAS CASE TOWERS INVESTORS VS JEFF EPSTEIN PROCEEDINGS FOR THE ST THOMAS ATTACHMENT OF 
ALL JEFF EPSTEIN ASSETS 
Importance: High 
DARREN K. INDYKE 
DARREN K. INDYKE, PLLC 
575 Lexington Avenue, 4th Floor 
New York, New York 10022 
Telephone: 
Telecopier: 
Mobile: 
email: 
****************************************************************************************** 
************ 
The information contained in this communication is confidential, may be attorney-client 
privileged, and is intended only for the use of the addressee. It is the property of 
Darren K. Indyke, PLLC. Unauthorized use, disclosure or copying of this communication 
or any part thereof is strictly prohibited and may be unlawful. If you have received this 
communication in error, please notify us immediately by return e-mail, and destroy this 
communication and all copies thereof, including all attachments. 
Copyright of Darren K. Indyke, PLLC - 0 2016 Darren K. 
Indyke, PLLC — All rights reserved. 
****************************************************************************************** 
************* 
Begin forwarded message: 
From: steven hoffenberg 
Subject: Fwd: ST THOMAS CASE TOWERS INVESTORS VS JEFF EPSTEIN PROCEEDINGS 
FOR THE ST THOMAS ATTACHMENT OF ALL JEFF EPSTEIN ASSETS 
Date: January 27, 2016 at 12:01:01 PM EST 
To: 
Steven J. Hoffenberg 
New York Post Publishing INC. 
CEO 
TOWERSINVESTORS.COM 
CEO 
HOUSE OVERSIGHT 031195 
SEE 
WWW.POST PUBLISHING.BUZZ THE JESUS CHRIST ON LINE GODs WORD NEWSPAPER 
MR HOFFENBERG ONLINE NEWSPAPER 
PUBLICSPEAKINGWALLSTREET.COM  
Begin forwarded message: 
From: steven hoffenberg 
Date: January 27, 2016 at 11:57:38 AM EST 
To: Brad Edwards 
Cc: ""Gary H. Baise11.11 
Subject: ST 
THOMAS CASE TOWERS INVESTORS VS JEFF EPSTEIN PROCEEDINGS FOR THE ST TH 
OMAS ATTACHMENT OF ALL JEFF EPSTEIN ASSETS 
HI BRAD 
PLEASE CONSIDER WISDOM IN THE YEARS OF LITIGATION AGAINST JEFF EPSTEIN . 
1 ST THOMAS HAS THE MAJOR BENEFIT BY THE ATTACHMENT OF ALL THE JEFF EPST 
EIN & CLIENTS ASSETS IN THE EPSTEIN OPERATIONS ON ST THOMAS. 
2 EPSTEIN IS NOW THE COLLECTION PROCEEDING UNDER THE FEDERAL & ST THOMAS 
LAW . 
3 EPSTEIN HAS THE WRONG PERSON AS THE ST THOMAS AGENT FOR EPSTEIN WHEREB 
Y THE EPSTEIN ST THOMAS AGENT IS THE WIFE OF THE FORMER HEAD OF ST THOMA 
S NOT THE PARTY PERSON FROM THE LEADERSHIP IN ST THOMAS. 
4 EPSTEIN BACKED THE PARTY IN ST THOMAS THAT DID NOT WIN THE ST THOMAS RA 
CE. 
5 ST THOMAS NEEDS MONEY THAT THE ATTACHMENT OF THE EPSTEIN ASSETS ON ST 
THOMAS WILL PROVIDE AT ONCE. 
6 BANKS LENDING EPSTEIN & CLIENTS ALL OF THE MONEY FOR TRADING THE MARGI 
N ACCOUNTS MUST PUT EPSTEIN et 
al INTO BANKRUPTCY ONCE ST THOMAS MOVES AGAINST EPSTEIN & ALL OF THE ASSE 
TS ON ST THOMAS THAT EPSTEIN WORKS WITH EVERY DAY. 
7 BRAD THE YEARS OF LITIGATION AGAINST JEFF EPSTEIN ARE OVER WITH NO MAJOR 
COLLECTION FROM EPSTEIN IN THE PROCEEDINGS BRAD IS LITIGATING. 
8 BRAD CALL ATTORNEY ALAN FRAADE 212 486 2500 , TO JOIN THE ST THOMAS PROCE 
EDINGS AGAINST JEFF EPSTEIN. 
THANK YOU BRAD 
GO TRUMP !!!!!!!! 
HOUSE OVERSIGHT 031196 
Steven J. Hoffenberg 
New York Post Publishing INC. 
CEO 
TOWERSINVESTORS.COM 
CEO 
SEE 
WWW.POST PUBLISHING.BUZZ THE JESUS CHRIST ON LINE GODs WORD NEWSPAPER 
MR HOFFENBERG ONLINE NEWSPAPER 
PUBLICSPEAKINGWALLSTREET.COM  
HOUSE OVERSIGHT 031197 
"
IMAGES-006-HOUSE_OVERSIGHT_020811.txt,"Image source: slavorum.org

#17 Justin Bieber Or Just A Guy?

Image source: slavorum.org

#18 John Snow Or Not?

a

Image source: slavorum.org

#19 Leonardo???? ?

HOUSE_OVERSIGHT_020811
"
IMAGES-007-HOUSE_OVERSIGHT_022497.txt,"FOREWORD

We are pleased to announce the publication of A Resource Guide to the U.S. Foreign Corrupt Practices Act. The Foreign
Corrupt Practices Act (FCPA) is a critically important statute for combating corruption around the globe. Corruption has
corrosive effects on democratic institutions, undermining public accountability and diverting public resources from impor-
tant priorities such as health, education, and infrastructure. When business is won or lost based on how much a company is
willing to pay in bribes rather than on the quality of its products and services, law-abiding companies are placed at a com-
petitive disadvantage—and consumers lose. For these and other reasons, enforcing the FCPA is a continuing priority at the
Department of Justice (DOJ) and the Securities and Exchange Commission (SEC).

The Guide is the product of extensive efforts by experts at DOJ and SEC, and has benefited from valuable input from
the Departments of Commerce and State. It endeavors to provide helpful information to enterprises of all shapes and sizes—
from small businesses doing their first transactions abroad to multi-national corporations with subsidiaries around the world.
The Guide addresses a wide variety of topics, including who and what is covered by the FCPA’s anti-bribery and accounting
provisions; the definition of a “foreign official”; what constitute proper and improper gifts, travel and entertainment expenses;
the nature of facilitating payments; how successor liability applies in the mergers and acquisitions context; the hallmarks of
an effective corporate compliance program; and the different types of civil and criminal resolutions available in the FCPA
context. On these and other topics, the Guide takes a multi-faceted approach, setting forth in detail the statutory require-
ments while also providing insight into DOJ and SEC enforcement practices through hypotheticals, examples of enforce-
ment actions and anonymized declinations, and summaries of applicable case law and DOJ opinion releases.

The Guide is an unprecedented undertaking by DOJ and SEC to provide the public with detailed information about
our FCPA enforcement approach and priorities. We are proud of the many lawyers and staff who worked on this project,

and hope that it will be a useful reference for companies, individuals, and others interested in our enforcement of the Act.

Lanny A. Breuer Robert S. Khuzami
Assistant Attorney General Director of Enforcement
Criminal Division Securities and Exchange Commission

Department of Justice

November 14, 2012

HOUSE_OVERSIGHT_022497
"
IMAGES-009-HOUSE_OVERSIGHT_027685.txt,"search engines have it. there are some at the top that has as much activity as the
entire half. only math

Time: 05/03/19 09:08:23 AM (578592503)

Flags: 1060865

Is Read: Yes
Is Invitation: No

GUID: 44A787F3-6B06-4A47-85BA-FE137560A3D2

Message: Love this

Sender:

:jeeitunes@gmail.com

Time: 05/03/19 09:08:54 AM (578592534)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 2493B48E-2228-4C59-95F1-601B3D33FFCD

Message: we can do unpleasant facts. sickle cell is only afri
ercuthfelds only jews. says they are different

Sender: e:jeeitunes@gmail.com

Time: 05/03/19 09:09:30 AM (578592570)

Flags: 1085445

Is Read: No

Is Invitation: No

can jacob

the same

GUID: 3429A8A4-6A33-4F36-9FF4-62418C682AB0

Message: power. financial intellectual physical .polictical all
underpinnings

Sender: e:jeeitunes@gmail.com

Time: 05/03/19 09:09:48 AM (578592588)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 1830A8E1-074B-4111-9098-7889D33FA99F

Message: music as a window into the brain. stem cells vs cancer.
Sender: e:jeeitunes@gmail.com

Time: 05/03/19 09:10:11 AM (578592611)

Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 9DSE4FOB-8762-4669-AC54-S502F0076F367

Message: mash ups of beethoven weird jeffrey discovery

vs death

HOUSE_OVERSIGHT_027685
"
IMAGES-007-HOUSE_OVERSIGHT_023951.txt,"CHAPTER 14

i

MZ

What Can We Do About It?

Simple solutions seldom are. It takes a very unusual mind to
undertake analysis of the obvious.
—Alfred North Whitehead

What is obvious here? Schooling is broken. It needs to be rethought.
What can we build as an alternative? It is a simple question really. If
we had all the resources in the world and we really wanted to edu-
cate our children, where education means teach them to think clearly,
live well-thought-out lives, and be able to pursue their dreams, what
would we build?

It is, of course, very difficult to think about replacing sacred in-
stitutions. The only way I know to think about it, is as a thought
experiment. Just imagine that we lived in a different world, maybe a
Greek colony in the Ist century, and ask yourself how we might edu-
cate our children in this environment, pretending that schools are the
one thing we cannot build for some reason. As we think about this,
we must not assume that what we teach in schools now needs to be
taught in some other way. We simply need to ask: What should one
teach children? while making no assumptions that what we have been
teaching is necessarily relevant.

To put this another way, the right question to ask is: What do chil-
dren need to be able to do, in order to function in the world they inhabit?
The next question is, of course, How would we teach children to do
those things?

Now admittedly I am prejudicing the answer here by simply leav-
ing out the word know. The usual question is, What should children
know? It is this question that leads people to make lists of things every
3rd-grader should know and allows school boards to create lists of
facts students need to be tested on. So, let’s leave that word out of the
discussion and see where it gets us.

205

HOUSE_OVERSIGHT_023951
"
IMAGES-011-HOUSE_OVERSIGHT_030643.txt,"From: Linda Stone as

Sent: 11/13/2016 3:19:37 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Ri did see this coming...

Importance: — High

Perfect

Co-authored with iPhone auto-correct

On Nov 13, 2016, at 9:27 AM, jeffrey E. <jeevacation@gmail.com> wrote:

trump tower

On Sun, Nov 13, 2016 at 8:53 AM, Linda Stone (I wrote:

And just had a great time with Joi.
You still in Paris?

Co-authored with iPhone auto-correct

On Sep 26, 2016, at 7:31 AM, Linda Stone = wrote:

How's that?
Which team you pulling for?
Co-authored with iPhone auto-correct

On Sep 26, 2016, at 2:30 AM, jeffrey E. <jeevacation@gmail.com> wrote:

too far to tell, we will know much more come oct 15

On Mon, Sep 26, 2016 at 7:14 AM, Linda Stone > wrote:

SPEAK! Please. What do you think?

On Sep 25, 2016, at 12:15 PM, jeffrey E. <jeevacation@gmail.com> wrote:

do you think he can win?

On Sun, Sep 25, 2016 at 9:10 PM, Linda Stone hii, wrote:

Moving (small places in Raleigh and Bellevue), wrapping up taxes, wrapping up fire claim, trying to figure
out if technologies that soothe the nervous system (that offer the positive effects that meditation or massage
might offer) are worth working on....

And wondering if the fact that so many people are on anti-depressant, adhd, and other drugs, is what makes
trump appealing and his flaws invisible...

Will you have a cabinet position?

HOUSE_OVERSIGHT_030643
"
IMAGES-003-HOUSE_OVERSIGHT_015285.txt,"Prison Legal News is also preparing a lawsuit against the Utah
Department of Corrections for a policy that bars all books except those
that are shipped directly from Barnes & Noble. Generally, prisons require
that books be sent directly from the publisher or a major distributor, for
security reasons. Otherwise, a spokesperson for one jail explains,

“There’ s a possibility something could be in one of the pages that we
don’ t want. There could be little bits of drugs in the pages.”

“We have not yet sued them.” Wright told me, “since they only
sporadically censor us and aren’ t letting us develop a good fact
pattern.”

A spokesperson for the Los Angeles County Sheriff’ s Department
said that its jails allow inmates to receive books from booksellers after
checking to see whether they can be fashioned into a weapon, promote
violence or have sexually explicit content. Across the country, only
paperbacks are accepted. Hardcovers are rejected because they provide

“source material” for fashioning weapons. When the Supreme Court
ruled that law libraries did not have to be provided to prisoners, jails in
Montana not only removed the entire contents of the law library, but they

also removed the typewriters.

HOUSE_OVERSIGHT_015285
"
IMAGES-007-HOUSE_OVERSIGHT_023789.txt,"What Can’t You Teach? 43

That story cannot be short and sweet. It takes a great deal of emo-
tion and empathy to change a point of view in a belief system. Decid-
ing to construct a 15-minute, e-learning module in which one plays
the sales rep and learns that honesty is the best policy, is so absurd that
Iam sorry I am referring to it at all, except that is what was proposed
by the integrity and compliance people to whom I was speaking.

You can move people ever so slightly by having them have emo-
tional experiences that they can discuss with one another. Imagine a
book club that deals with a book about dishonesty and causes people
in the discussion group to talk about the subject. If the book presented
deep dilemmas to which there were no obviously right answers, this
would allow people to get to and discuss their unconscious beliefs.
Simply articulating those beliefs can be quite helpful. This is what
clinical psychologists are really trying to do, after all. It is also what Lit-
erature professors are trying to get their classes to do. Thinking about
and talking about complex emotional issues makes personality traits
and core beliefs something you can think about consciously.

The real issue, in the end, is interests. Teaching works best when
you teach students who agree that they really want to learn what-
ever it is you have to teach. This means making sure that students
are preparing to do things that they want to do and actually will do.
That makes teaching much easier for all involved. The one-size-fits-all
curriculum doesn’t work because one size doesn’t fit all. Let detail-
oriented people learn detailed kinds of things. Let artistic people learn
artistic kinds of things. Let logical people learn logical kinds of things.
Everyone would be much happier and all would enjoy learning a lot
more if we simply let people be themselves.

HOUSE_OVERSIGHT_023789
"
IMAGES-004-HOUSE_OVERSIGHT_017694.txt,"Page 59 of 78
2007 Utah L. Rev. 861, *943

Rule 60. Victims

(a) Rights of Victims.

(3) Right to Be Heard.

The court must permit a victim to be reasonably heard at any public proceeding in the district court concerning release . . .

involving the crime. +

Discussion:

The Advisory Committee's global proposal gives victims the right to be ""heard"" on release decisions; but it fails to spell out
what effect, if any, the [*944] victim's statement would have after the court heard the victim. In other words, the Advisory
Committee proposal seemingly codifies an empty gesture.

In contrast, my proposal would take the straightforward and important step of requiring a court to consider the views of the
victim in determining any release decision. 4°” That requirement is added directly into the rule governing release decisions -
Rule 46. Adding a specific rule with specific consequences is far preferable to the Advisory Committee's approach and is

consistent with the CVRA's goal of ensuring ""reasonable conditions of pre-trial and post-conviction relief that include

protections for the victim's safety."" +68

Rule 48 - Victims’ Views on Dismissal to be Considered The Proposals:

I proposed that the court should be required to consider the views of victims in deciding whether to grant a government's
motion to dismiss a case as follows:

Rule 48. Dismissal
(a) By the Government. The government may, with leave of court, dismiss an indictment, information, or complaint. The

government may not dismiss the prosecution during trial without the defendant's consent. In deciding whether to grant the

government's motion to dismiss, the court shall consider the views of any victims. 4°?

The Advisory Committee proposed no change to this rule. 47°
Discussion:
The Advisory Committee declined to adopt this recommendation for several reasons:

The Subcommittee recognized that victims will have a great interest in whether charges are dismissed. The CVRA does not,
however, explicitly address dismissals, and it speaks only of not excluding the [victim] from, and providing the [victim with]

. aright to be reasonably heard at public proceedings in the district court. If the government moves for dismissal there is
ordinarily no public proceeding. (When there is a [*945] public proceeding, the victim's right not to be excluded, and to be
reasonably heard 1s provided for in Rule [60].)

466 Proposed Amendments, supra note 71, R. 60(a)(3), at 16.

467 Existing law has places where a victim's views could profitably be brought to bear. See, e.g., /8 U.S.C. § 3142(c) (court to consider
whether release of the defendant ""will endanger the safety of any other person"").

468 See, e.g., 150 Cong. Rec. $10910, $10910 (daily ed. Oct. 9, 2004) (statement of Sen. Kyl).
469 Cassell, Proposed Amendments, supra note 4, at 918.

479 See Proposed Amendments, supra note 71 (showing no proposed change for Rule 48).

DAVID SCHOEN

HOUSE_OVERSIGHT_017694
"
IMAGES-010-HOUSE_OVERSIGHT_030222.txt,"Date: Friday, March 11 2011 12:54 AM
Subject: FW: Daily Mail

From: GM AX

To: J Jep <jeevacation@gmail.com>;

------ Forwarded Message
From:
Reply-To: <
Date: Thu, 10 Mar 2011 16:40:11 -0500
To: NY Max
Subject: Fw: Daily Mail

Please see below. My take:A) voluntary rules are meaningless in terms of arranging for a cessation of crap
articles/stories etcB) doesn't offer redress (financial or in terms of publicity.Law here definitely provides more
protection and redress if individual(s) involved in approaches from newspapers are employees or have any
form of contractual relationship with target.Let's talk. Kevinx

Kevin MaxwellAvenue Partners Limited35 Park LaneLondon W1K me  6Cftti(isé‘z x
Pe

From: Ross gow
Date: Thu, 10 Mar 2011 21:29:24 +0000

To: GMAX

Ce: Brian Bashan; Ross Gow >; Ian Ian Maxwell<
ee; Kevin Maxwell >; Gareth Thompson<

Fr t—“‘:;™SC;*tsSCtésaER

Subject: Re: Daily Mail

Maz is the most devious and cunning of the bunch. However, Editors can pay for people, stories and documents.
They can even pay criminals if it is in the public interest.

Maz can pay who he wants for info but the Yorkshire Ripper for instance, as a convicted criminal, can't sell his
story...unless in public interest cos there was say, a bent detective.

Below is from PCC Code for Editors. It is not well drafted.

15
Witness payments in criminal trials

i) No payment or offer of payment to a witness - or any person who
may reasonably be expected to be called as a witness - should be made
in any case once proceedings are active as defined by the Contempt of
Court Act 1981.

This prohibition lasts until the suspect has been freed
unconditionally by police without charge or bail or the proceedings
are otherwise discontinued; or has entered a guilty plea to the court;
or, in the event of a not guilty plea, the court has announced its
verdict.

*11) Where proceedings are not yet active but are likely and
foreseeable, editors must not make or offer payment to any person who

HOUSE_OVERSIGHT_030222
"
TEXT-002-HOUSE_OVERSIGHT_033512.txt,"From: Roy Black 
Sent: 5/29/2019 4:57:42 PM 
To: Martin Weinberg ; Jeffrey Epstein [jeeyacation@gmail.com]; Jackie Perczek 
; Darren Indyke___________________________________ 
Subject: FW: epstein 
Attachments: image001.jpg; image002.jpg; image003.jpg 
fyi 
From: Roy Black 
Sent: Wednesday, May 29, 2019 12:57 PM 
To: 
Subject: epstein 
Dear we have no comment on the trump story. We are finalizing our pleading regarding 
the plaintiff's position on remedies. I intend to hold off commenting until we file it. After that I 
will be free to comment on the pleading which will address your question. Roy 
Roy Black, Esq. 
www.royblack.com  
Black Srebnick Kornspan & Stumpf, PA 
201 S. Biscayne Boulevard, Suite 1300 
Miami, FL 33131 
Telephone: 
Fax: 
BLACK 
SPEBNICK 
KOPNSPAN 
STUMPF 
111.al& APPELLAN 
AT701thIPT 
The information in this email transmission is privileged and confidential. If you are not the intended recipient, nor the 
employee or agent responsible for delivering it to the intended recipient, you are hereby notified that any dissemination or 
copying of this transmission (including any attachments) is strictly prohibited. If you have received this email in error, 
please delete all copies of this email and any attachments and notify us immediately. Thank you. 
HOUSE OVERSIGHT 033512 
"
IMAGES-005-HOUSE_OVERSIGHT_020459.txt,"xii

Policy Principles for Constructive Vigilance

HOUSE_OVERSIGHT_020459
"
IMAGES-002-HOUSE_OVERSIGHT_013295.txt,"ship.
September

Tommy Morrison, 44. In 1993, he defeated George Foreman to win
the World Boxing Organization heavyweight title and appeared in
the movie “Rocky V.” Died Sept. 1.

Ronald Coase, 102. The British-born University of Chicago
economist who won the Nobel Prize in 1991 for research he said
showed that “people will use resources in the way that produces
the most value.” Died Sept. 2.

Joseph Granville, 90. He was a U.S. financial newsletter writer
and technical analyst who moved stock markets with bearish calls
in the 1970s and 1980s. Died Sept. 7.

Ray Dolby, 80. He was a U.S. inventor who became a billionaire
by designing noise-reduction and surround-sound technologies
used in films, movie theaters and home-theater equipment. Died
Sept. 12 of leukemia.

Ken Norton, 70. The U.S. boxer who was a former world

heavyweight champion and gained fame by breaking Muhammad Ali’s
jaw during a match. Died Sept. 18 after suffering a series of

strokes.

Joy Covey, 50. She joined Amazon.com Inc. during its pioneering
days as an Internet retailer, serving as its chief financial

officer when the company held its initial public offering in

1997. Died Sept. 18 in a bicycle accident in California, where
she lived.

Hiroshi Yamauchi, 85. The great-grandson of Nintendo Co.’s
founder, running the company for 53 years and becoming Japan’s
richest person in 2008. Died Sept. 19.

Douglas Millett, 49. He was director of research at New York-

based Kynikos Associates Ltd., who called Enron Corp. “a hedge
fund sitting on top of a pipeline” and helped expose the energy

HOUSE_OVERSIGHT_013295
"
IMAGES-001-HOUSE_OVERSIGHT_010524.txt,"Fittuy Ricu

Once again, Chief Reiter was outraged. So much so that he
took the extraordinary step of calling the FBI and the federal
prosecutor's office.

At the time, the federal prosecutor of the Southern District of
Florida was a Republican named R. Alexander Acosta. Chief
Reiter recalls being present at Acosta’s swearing-in ceremony

CHAPTER 48 and remembers Acosta’s declaration that one of his goals would
} be the prosecution, to the fullest extent of the law, of anyone
who takes advantage of the weak—especially perpetrators of
sex crimes. Disgusted with Krischer’s laissez-faire attitude, Reiter
recalls thinking he’d found his man.
In Acosta, the chief saw a prosecutor who wouldn't shy away

from confronting a man with Jeffrey Epstein’s resources and
connections.

But it turned out that Acosta had worked under Ken Starr at
ry reached a verdict that floored Starr’s high-powered multinational law firm, Kirkland & Ellis.
And while Acosta had a sterling résumé, which included a stint
leal that Krischer had offered to clerking for future Supreme Court justice Samuel Alito, he had
Now the grand jury was recom-

FF only argued two cases before a judge.
zed with just one felony count of 4

At the time, Reiter did not know this. All he knew was that some-
one had to look much more seriously into Jeffrey Epstein’s crimes.
of underage girls. The original 7
s of unlawful sex acts with minors q
and lascivious molestation — hadi ; Reiter’s actions did not necessarily make him a hero—at least,

: hot in every corner of the community he served.

ystein to prison. : ' “Thad individuals suggest that the department’s approach to
‘render on a Sunday, when no one |
gned. A few hours later, he was”
llars bail.

yt even notified.

the i investigation and my referral of the investigation to the FBI
Was more horsepower than the investigation deserved. And I
/had other individuals suggest that—yeah, the term ‘back off
‘probably fits,” Reiter said in his deposition for B.B. vs. Epstein.

183

HOUSE_OVERSIGHT_010524
"
IMAGES-010-HOUSE_OVERSIGHT_029773.txt,"From: Stephanie [rs

Sent: 3/4/2011 11:15:40 PM
To: Peggy Siegal I « jcevacation@gmail.com
Subject: RE: Oscar diary

Attachments: Oscar story.doc

Jeffrey,
Peggy's story is attached to the e-mail. I have included the story in the body of the e-mail as well.
Thanks,

Stephanie

Omar Quadhafi is hunkering down in Tripoli giving press interviews denying that rebels are taking over
Eastern Libya. Oi] prices are shooting over one hundred dollars a barrel. The US government is on the
verge of a shut down. These are not the top secret opening lines to Aaron Sorkin’s new script, but the
global headlines of a world spinning out of control. I head to Los Angeles like an overdressed lemming to
attend the 83rd Academy Awards and attempt to make sense of artists thrust into combat.

For the second year nearly 6,000 Academy members have nominated 10 films and the battle is down to two.
The beloved timeless classic, ""The King's Speech"" marches into the arena as the front runner, but
passionate supporters of the brilliant edgier (and critics darling) ""The Social Network"" have not
conceded. The ballots are counted, the party invites are out and still the feelings are raw. Filmmakers
are exhausted from campaigning.

At Bryan Lourd's famous star studded party Sony Classics’ Co-President Michael Barker announces to me he
has taken a random sampling of voters in the room. He says, ""There will be a ‘Social Network’ upset at
the Kodak Theater."" Shear panic radiates from my every pore as he says, ""I am joking."" It's like color
war at summer camp.

woody Allen and George Lucas tell me they are no longer members of the Academy because pitting artists
against each other to determine the quality of their work is insane. They are right.

My event and publicity company is considered ""Switzerland"" by the studios, as we help every filmmaker to
present and position his work. This year I am somewhat emotionally sucked in.

In 2005 I meet the unknown 32-year-old English director Tom Hooper on his first film for HBO,""Elizabeth
I"". The Emmy award winning movie stars Helen Mirren, who takes credit for discovering him directing
English television. Helen later wins her Oscar for portraying Queen Elizabeth in “The Queen”. Queen
Elizabeth is the daughter of King George VI portrayed by Oscar winner Colin Firth in “The King's Speech"".

I also become Hooper's champion encouraging many to see his early work including his herculean 10 hour
HBO mini-series ""John Adams"" produced by Tom Hanks.

Six years later at the Telluride Film Festival Tom Hooper is bathing in the glory of a hysterical
standing ovation with Colin Firth and Geoffrey Rush at the very first screening of ""The King's Speech.”
Surprisingly, this drama's subtle humor gets big laughs leading up to its emotional ending.

within two weeks, at The Toronto Film Festival, Harvey Weinstein is now standing with his filmmakers
witnessing the same reaction. The film wins The Audience Prize. Their strategy is to say nothing. Do
nothing. They have a possible Oscar winner. Four out of five past Best Pictures have premiered in
Toronto.

cut to New York City at the end of September. It's the opening night at The Film Society of Lincoln
Center. One of America’s most important and prolific producers Scott Rudin, along with Jesse Eisenberg,
Andrew Garfield and Aaron Sorkin are in a brightly lit box waving down to their equally hysterical
audience who have just seen ""The Social Network"".

The film opens the next day to rave reviews and endless publicity. David Fincher is off making “The Girl
with the Dragon Tattoo"". Aaron Sorkin becomes the face of the film and an immediate shoo-in for an Oscar.

The Hamptons International Film Festival in October suddenly becomes a launching pad for ""127 Hours"",
where cool Yale/NYU student James Franco appears and receives a heroic standing ovation. More Oscar buzz.

“Black Swan"" also unspools there in a tiny theater as Madonna, Alec Baldwin and even Harvey Weinstein

slip in the back. Darren Aronofsky, sporting the ever present cool wool scarf around his neck is hailed a
genius. Natalie Portman is instantly the hot nominee for Best Actress.

HOUSE_OVERSIGHT_029773
"
IMAGES-006-HOUSE_OVERSIGHT_020839.txt,"Improving operating efficiency.

With nearly one government civilian worker (federal, state and local) for every six households,
efficiency gains seem possible. A 20-year trend line of declining federal civilian headcount was
reversed in the late 1990s.

Resuming that trend would imply a 15% potential headcount reduction over five years and save
nearly $300 billion over the next ten years. USA Inc. could also focus intensively on local private
company outsourcing, where state and local governments are finding real productivity gains.

Improving long-term GDP growth — productivity and employment.

Fundamentally, federal revenues depend on GDP growth and related tax levies on consumers
and businesses. Higher GDP growth won't be easy to achieve as households rebuild savings in
the aftermath of a recession. To break even without changing expense levels or tax policies,
USA Inc. would need real GDP growth of 6-7% in F2012-14 and 4-5% in F2015-20, according to
our estimates based on CBO data — highly unlikely, given 40-year average GDP growth of 3%.
While USA Inc. could temporarily increase government spending and investment to make up for
lower private demand in the near term, the country needs policies that foster productivity and
employment gains for sustainable long-term economic growth.

How Much Would Real GDP Need to Grow to Drive USA Inc. to Break-Even
Without Policy Changes? 6-7% in F2012E-F2014E & 4-5% in F2015-

F2020E...Well Above 40-Year Average of 3%

CBO’s Baseline Real GDP Growth vs. Required Real GDP
Growth for a Balanced Budget Between F2011E and F2020E

A%

Real GDP Y/Y Growth (%)
N
sz

200: 2011E 2013E 2015E 2017E 2019E

Real GDP Annual Growth (CBO Baseline Forecast) =
Real GDP Annual Growth Needed to Eliminate Fiscal Deficit
— -1970-2009 Average Real GDP Growth

KP Source: CBO, “The Budget and Economic Outlook: Fiscal Years 2010 to 2020,” 8/10.
§@S) www kpcb.com USA Inc. | Summary

Productivity gains and increased employment each contributed roughly half of the long-term
GDP growth between 1970 and 2009, per the National Bureau of Economic Research. Since the
1960s, as more resources have gone to entitlements and interest payments, USA Inc. has
scaled back its investment in technology R&D and infrastructure as percentages of GDP.
Competitors are making these investments. India plans to double infrastructure spending as a
percent of GDP by 2013, and its tertiary (college) educated population will double over the next
ten years, according to Morgan Stanley analysts, enabling its GDP growth to accelerate to 9-
10% annually by 2015 (China’s annual GDP growth is forecast to remain near 8% by 2015).
USA Inc. can’t match India’s demographic advantage, but technology can help.

KP

CB www.kpcb.com USA Inc. xvi

HOUSE_OVERSIGHT_020839
"
IMAGES-004-HOUSE_OVERSIGHT_017864.txt,"IN RE TERRORIST ATTACKS ON SEPTEMBER 11, 2001

799

Cite as 349 F.Supp.2d 765 (S.D.N.Y. 2005)

proximate cause, and in tort law, a defen-
dant will be held liable only for those
injuries that might have reasonably been
anticipated as a natural consequence of the
defendant’s actions.” Jd. at 1012. Plain-
tiffs submit the court’s decision in Bowm—
that the ATA was designed “to extend
liability to all points along the causal chain
of terrorism’—supports the finding that
Prince Sultan’s and Prince Turki’s conduct
caused the attacks on September 11, 2001.
Id. at 1011.

Plaintiffs exert much effort outlining the
connections between al Qaeda and the De-
fendant charities that Prince Sultan and
Prince Turki supported. Plaintiffs argue
that the indirect nature of the Princes’
contributions to al Qaeda is not fatal to
their claims since they allegedly knew that
funds they donated to the Defendant chari-
ties were being diverted to al Qaeda. See
Bierstein Aff. in Opp. to Prince Sultan’s
Motion to Dismiss, Exs. 1-24. The Court
has reviewed the exhibits on which Plain-
tiffs rely and finds only a handful relate to
Plaintiffs’ arguments.

Exhibit 11 is a report allegedly prepared
for the President of the U.N. Security
Council regarding a Saudi connection to
terror financing. The report mentions
Prince Sultan once in his role as the head
of the Supreme Council of Islamic Affairs
and does not conclude or suggest that he
had any knowledge that charities to which
he allegedly donated were funneling mon-
ey to al Qaeda.

Exhibit 12 is a statement by the former
French Minister of the Interior in which
he claims to have met with Prince Sultan,
Prince Turki, and other members of the
Saudi Royal family in November 1994 and
to have raised the “question of financial aid
furnished by Saudi charitable organiza-
tions enjoying state support ... to Islam-
ist movements or terrorist groups.” The
only charity he names in his statement is

the World Islamic League, not one of the
charities to which the Princes allegedly
donated.

Exhibits 21-24 are excerpts from The
Muslim World regarding Prince Sultan’s
donations to IIRO and the Joint Saudi
Committee for Relief of Kosovar Refugees
(“JSCR”). There is no indication in these
exhibits that IIRO or JSCR was funneling
donations to al Qaeda. Even construing
these allegations and exhibits in the light
most favorable to Plaintiffs, and drawing
all inferences in their favor, none of these
exhibits amount to admissible evidence
that Prince Sultan or Prince Turki knew
the charities they supported were fronts
for al Qaeda.

Alternatively, Plaintiffs argue that, since
Osama bin Laden and al Qaeda made no
effort to hide their hatred for the United
States, Prince Sultan and Prince Turki had
to have been aware that the United States
was a target, making the atrocities of Sep-
tember 11, 2001 a foreseeable result of
their actions. See, e.g., Bierstein Aff. in
Opp. to Prince Sultan’s Motion to Dismiss,
Exs. 2-10, 14, 15, 18, 20 Gincluding reports
and fatwas summarizing Osama bin Lad-
en’s and al Qaeda’s repeated public threats
to and denouncement of the United
States). There is no question that in the
years leading up to the September 11 at-
tacks, Osama bin Laden and al Qaeda were
increasingly vocal in their hatred of the
United States and its interests. The ques-
tion remains, however, whether Plaintiffs
have adequately alleged that Prince Sul-
tan’s and Prince Turki’s specific acts aided
and abetted those terrorists.

Both Prince Sultan and Prince Turki
claim Plaintiffs cannot demonstrate their
alleged tortious activity caused Plaintiffs’
injuries. They argue that Plaintiffs ignore
that Osama bin Laden also targeted the
Saudi Royal family. See, e.g., Bierstein
Aff. in Opp. to Prince Sultan’s Motion to

HOUSE_OVERSIGHT_017864
"
IMAGES-011-HOUSE_OVERSIGHT_031575.txt,"Alex Rowell joined NOW in Beirut as a reporter and blogger in February
2012. A British citizen, he was raised in Dubai and studied economics in
London.

Article 3.

The Economist

India's next prime minister: The Modi era
begins

May 18th 2014 -- IN THE days since May 16th when Narendra Modi and
his Bharatiya Janata Party (BJP) stormed to victory in India’s general
election much commentary has wrestled with the idea of history. Most
commentators seem to agree that May 2014 marks an historic moment.
One reason is the scale of Mr Modi’s landslide victory, which scooped up
282 seats for the BJP and thus an absolute majority in parliament. That is
first time since 1984 that any party has won a majority for itself. It is also
the first time ever that a party other than Congress has done so.
Conversely, the defeat for Congress is far worse than anything in its long
history of dominating Indian politics: it won fewer than a sixth the seats of
its rival, getting just 44. In much of north India, the political heartland,
Congress was wiped out. Some correctly ask if its eventual recovery
(assuming that will happen one day) would require being rid of the Nehru-
Gandhi dynasty that has been at its heart for so long.

Yet the size of Mr Modi’s victory, and Congress’s defeat, tells only part of
the dramatic story. The immense dissatisfaction with Congress was
undeniable. Voters were unhappy with high inflation, slowing growth,
weak leadership, corruption and much more. Such voter grumpiness,
usually summed up as “anti-incumbency’”, is all but inevitable for a party
that had been in power for a decade. Yet more has happened here. Take,
for example, the utter defeat of the Bahujan Samaj Party of Mayawati, the
Dalit leader in Uttar Pradesh. She was not an incumbent and her party

HOUSE_OVERSIGHT_031575
"
IMAGES-007-HOUSE_OVERSIGHT_023979.txt,"It's hard to imagine, but true: Summer will slip away before you know it. Which means it's time for a mini-getaway to one of
your favorite cities. And this is the time to go - the streets are quieter, the parks are in bloom and concerts, movies and
performances are staged nearly every day. We've got last-minute availability at the Landmark London and three Manhattan
standouts: the elegant Hétel Plaza Athénée, the family-friendly Roger Williams and the Uber-sleek Thompson LES. Choosing
can be tough when the options are so good.

HOUSE_OVERSIGHT_023979
"
TEXT-001-HOUSE_OVERSIGHT_014315.txt,"﻿2016 Future of Financials Conference
Management and client bullishness implies
further upside
Price Objective Change
Equity | 17 November 2016 Corrected
Unauthorized redistribution of this report is prohibited. This report is intended for amanda.ens@baml.com
Conference tone bullish into 2017
We recently hosted over 90 public and private companies and 700 attendees at our
Future of Financials conference, where investor attendance was up an impressive 66%
YoY. The tone from management and investors was uniformly bullish, with more
generalists attending than we have seen in previous years.
Revenue & regulatory upside + positioning = raising POs
We are raising our price objectives across most of our names. Three primary reasons
why we think there is upside remaining after the recent rally: 1) an improved outlook on
both activity levels and interest rates, driving revenue upside; 2) potentially lower
regulatory burden, particularly as new supervisory leadership can come with the new
administration; and 3) relatively lighter positioning in US financials vs. other sectors.
Full house at innovation-focused panels
New this year, we hosted expert panels on the evolution of clearing, fixed income
market structure, equity market structure, and payments, and how innovation in
blockchain, big data, and robo advisory can change the game. Strong panel attendance
suggested high interest in these themes, and polling feedback suggests shareholders
want banks to make investment spend in innovation a priority -- so long as it is self
funded with savings found elsewhere.
Banks: Most constructive we've heard in years
We are raising our POs for our banks by c11% (see Table 1 page 63). When asked if the
election results changed 2017 outlooks, all banks were more enthusiastic about growth.
Echoing sentiment from our panel on regulation and M&A, banks were upbeat on the
CCAR process potentially evolving post-election. Our top picks out of the conference:
WFC (sentiment over retail sales practices clouding EPS sensitivity to improving macro),
C (solid momentum on revenues and capital return), IBKC (moving closer to strategic
targets), and EWBC (sentiment post-election appears constructive on regulatory relief).
Brokers, Alternatives, and Asset Managers
The sentiment around the capital market sector was mostly favorable post the election
outcome, given the potential for de-regulation, pro-growth, rising rates, lower tax rates,
and increasing activity levels. For the brokers, given mostly favorable 4Q activity trends
(more so for trading vs. banking), 1H17 seasonality with easy comps, and potential for
de-regulation and lower taxes – we like the outlook, particularly for GS. For the asset
managers, despite the move higher post the election on a potential DOL
delay/modification and lower tax rates, most expect the DOL to continue in some form
and the core trends remain challenging – we remain cautious. For the alternative
managers, while we continue to view the structural growth as attractive and a lower
corp tax rate could potentially increase the odds of a transition to a C-corp , given the
potential for a higher carry tax, rising rates, and de-regulation of banks potentially
moderating some of the newer growth areas, we view the outlook as more balanced.
Specialty / Consumer finance
Companies were generally bullish on the US consumer heading into 2017. AXP
presented a fairly upbeat outlook on billings, loan and revenue growth, while cautioning
that Discount rate pressures and FX headwinds could impact near-term results. The
private tech based lenders were cautiously optimistic that hiccups from earlier this year
were behind the sector, while the private payments companies stressed the importance
of partnering with incumbent leaders and the need to maintain safety standards.
BofA Merrill Lynch does and seeks to do business with issuers covered in its research reports. As a
result, investors should be aware that the firm may have a conflict of interest that could affect the
objectivity of this report. Investors should consider this report as only a single factor in making
their investment decision.
Refer to important disclosures on page 78 to 81. Analyst Certification on page 75. Price Objective
Basis/Risk on page 64. 11687665
Timestamp: 17 November 2016 06:24AM EST
United States
Banks
US Financials
MLPF&S
Erika Najarian
Research Analyst
MLPF&S
+1 646 855 1584
erika.najarian@baml.com
Michael Carrier, CFA
Research Analyst
MLPF&S
+1 646 855 5004
michael.carrier@baml.com
Ebrahim H. Poonawala
Research Analyst
MLPF&S
+1 646 743 0490
ebrahim.poonawala@baml.com
Kenneth Bruce
Research Analyst
MLPF&S
+1 415 676 3545
kenneth.bruce@baml.com
See Team Page for Full List of Contributors
Conference tone bullish into 2017
We recently hosted over 90 public and private companies and 700 attendees at our
Future of Financials conference, where investor attendance was up an impressive 66%
YoY. The tone from management and investors was uniformly bullish, with more
generalists attending than we've seen in previous years. When asked how they would
describe their portfolio positioning in financial stocks, 60% of the investors polled noted
that they are either slightly overweight or very overweight the sector (see Chart 1).
Chart 1: How would you describe your portfolio positioning in financial stocks, excluding insurance
and REITs?
40%
37%
35%
30%
25%
20%
15%
10%
5%
0%
23%
16%
15%
Very overweight Slightly overweight Neutral Slightly
underweight
9%
Very underweight
Source: BofA Merrill Lynch Global Research
New this year, we hosted expert panels on the evolution of clearing, fixed income
market structure, equity market structure, and payments, and how innovation in
blockchain, big data, and robo advisory can change the game. Strong panel attendance
suggested high interest in these themes, and polling feedback suggests shareholders
want banks to make investment spend in innovation a priority -- so long as its self
funded with savings found elsewhere. 68% of those polled across multiple company
presentations believed that institutions should invest in innovation projects but be
mindful of self-funding (see Chart 2).
Chart 2: Chart 2: As a shareholder, what statement most closely aligns with your view on how
traditional financial institutions should allocate investment spending on innovation?
80%
70%
60%
50%
40%
30%
20%
10%
0%
26%
Investment spending on
innovation should be top
priority
68%
6%
Given the revenue Institutions should focus on
environment, institutions should improving the bottom line and
invest in innovation projects but delay innovation projects
be mindful of self-funding
Source: BofA Merrill Lynch Global Research
2 2016 Future of Financials Conference | 17 November 2016
Banks Takeaways
With our conference coming a week following a historic US presidential election that
helped boost bank stocks by 12%, bank management teams were generally optimistic
with regards to the economic outlook heading into 2017. Greater fiscal stimulus that is
expected to spur economic growth coupled with potential regulatory relief has helped
improve the overall sentiment in the sector. When asked what the biggest impact of the
GOP sweep would likely be to bank earnings, 35% noted tax cuts and infrastructure
spurring growth as the biggest impact.
Chart 3: What do you think is the biggest impact of the GOP sweep to bank earnings?
40%
35%
30%
25%
20%
15%
10%
5%
0%
24%
Interest rates rising
faster across the curve
due to stronger dollar
35%
Tax cuts and
infrastructure spending
spurring growth,
therefore better loan
demand
31%
Lower regulatory
burden, driving higher
ROEs as excess
capital is returned
back to shareholders or
reinvested for growth
9%
No real impact/too
early to tell
Source: BofA Merrill Lynch Global Research
An area that has attracted particular attention among bank investors is around the
current landscape of multifamily lending. We polled the audience around their outlook
for multifamily lending in 2017 and found that 49% of those polled said there was some
concern, but only in certain regions and at certain rental price points. Meanwhile, 29%
noted softening fundamentals that should lead to slower financing activity and
worsening credit metrics (see Chart 4).
Chart 4: How do you view fundamentals for multifamily lending in 2017?
60%
50%
40%
30%
20%
10%
0%
10%
Softening
fundamentals
should lead to
slower financing
activity next year
2%
Softening
fundamentals
should lead to
worsening credit
metrics
29%
Softening
fundamentals
should lead to
slower financing
activity and
worsening credit
metrics
49%
Some concern, but
only in certain
regions and at
certain rental price
points
11%
No concern
Source: BofA Merrill Lynch Global Research
2016 Future of Financials Conference | 17 November 2016 3
Brokers Takeaways
In brokers, GS presented, while MS hosted 1-1 meetings with investors. During the
conference we polled the audience on several topics including the outlook for capital
markets revenues.
Investors modestly positive on capital markets over next 1-2 years
Given the election outcome, recent rise in rates, potential for higher growth and deregulation,
and lower corporate tax rates, we asked investors about their outlook for
capital markets over the next 1-2 years. The majority of investors (78%) were positive
about the capital markets sector, with 56% who expect modest improvement in
regulation, revenue growth of 5-10%, and returns of 10-12% and 22% who think we
could see significant improvement in regulation, revenues growth of 10%+, and returns
12%+.
Chart 5: Based on the backdrop and the election outcome, what is your outlook for the capital
markets over the next 1-2 years
60%
56%
50%
40%
30%
20%
10%
9%
13%
22%
0%
Little to no change in
regulation, flattish
revenues, and stable
returns
Little to no change in
regulation, but
improving revenues
(5%) and returns
(10%+) with GDP
growth
Modest improvement in
regulation, revenues
(5-10%), and returns
(10-12%)
Significant
improvement in
regulation, revenues
(10%+), and returns
(12%+)
Source: BofA Merrill Lynch Global Research
Asset Manager Takeaways
In asset management, four of the largest public managers, IVZ, EV, LM, and AB either
presented or engaged in fireside chats, while several other firms including AMG, APAM,
BLK, CNS, OMAM, and VRTS hosted 1-1 meetings with investors. During the conference
we polled the audience on several topics including the outlook for DOL (in the panel
section), the outlook for fixed income given the recent rise in rates/expected rate hike
and outlook, active vs passive market share, M&A, and pricing/fee structures.
Fixed income outlook more muted
Given the recent rise in rates, a looming rate hike in December, and the potential for a
higher growth/inflation outlook for the economy, we asked investors their outlook on
fixed income performance and flows vs equities. The majority of investors believe we
will see weaker fixed income performance and flows offset by stronger equity
performance and flows (52%). Weaker fixed income/equity performance and flows was
the second most popular answer at 24% while flat flows and performance came in third
at 16%. Only 8% of the audience think we will see stronger fixed income/equity
performance and flows, while nobody thinks fixed income will be stronger and equity
will be weaker (both flows and performance).
4 2016 Future of Financials Conference | 17 November 2016
Chart 6: What is your outlook on fixed income performance and flows versus equities?
60%
50%
52%
40%
30%
24%
20%
16%
10%
8%
0%
Weaker FI performance
& flows / Stronger
equity performance &
flows
Weaker FI and Equity
performance & flows
Flat FI performance &
flows / Flat equity
performance & flows
Stronger FI and Equity
performance & flows
0%
Stronger FI
performance & flows /
Weaker equity
performance & flows
Source: BofA Merrill Lynch Global Research
Active vs passive outlook – passive to continue to gain share
Given the ongoing shift to passive investing from active, we polled the audience to see
where they think the share split between the two styles eventually settles. Currently the
share split is roughly 70% active and 30% passive which was the least popular answer
(10%) when asked “do you see improving cyclical demand for active management,
despite structural headwinds, and if so where do you think active/passive share settles?”
Most investors do see improving cyclical demand for active management and think
passive will eventually control 40% of the market (50%) while 40% of respondents do
not see improving trends for active and that passive will eventually capture 50% of the
market.
Chart 7: Do you see improving demand for active & where do you think active/passive share settles?
60%
50%
40%
30%
20%
10%
0%
Yes, but structural will persist, with
share heading to 60% active / 40%
passive
No, and structural will persist, with share
heading to 50% active / 50% passive
Yes, with the share settling near the
current 70% active / 30% passive
Source: BofA Merrill Lynch Global Research
M&A activity likely to rise
Given a recent pickup in M&A and pressures within the industry that will likely continue
the trend, including rising regulatory costs, some fee pressure, and active outflows, we
asked investors their outlook for M&A in the sector. We found that the majority think
2016 Future of Financials Conference | 17 November 2016 5
that the number of deals in the asset management sector will increase modestly in
2017 vs 2016 (56%), 32% see M&A picking up significantly, and 12% see flat activity in
2017. Nobody sees lower M&A activity in 2017 vs 2016.
Chart 8: How will 2017 asset management M&A activity (# of deals) be versus 2016?
60%
56%
50%
40%
30%
32%
20%
10%
12%
0%
Increase modestly
Increase
significantly
Be stagnant
0% 0%
Decrease
modestly
Decrease
significantly
Source: BofA Merrill Lynch Global Research
Pricing/fee structure in retail seems to have more of a following
Given some underperformance of active managers, some scrutiny around fees, as well
as fee pressure from passive, we asked investors if they thought a change in active
pricing could make sense, i.e. charge a lower base fee with a variable performance fee
that would be earned when alpha is generated. We found a majority of respondents
thought it would make sense to change the pricing structure and it could make active
more competitive vs passive (67%). The rest of respondents felt it didn’t make sense
either because it would be too challenging for the active industry or it would not slow
the flows into passive.
Chart 9: Do you think a change in industry active pricing (lower base + perf fee) could make sense?
80%
70%
67%
60%
50%
40%
30%
25%
20%
10%
8%
0%
Yes, it could make the product more
competitive vs. passive products
No, it would be too challenging for the
active industry
No, it would not change the flow trend
toward passive products
Source: BofA Merrill Lynch Global Research
6 2016 Future of Financials Conference | 17 November 2016
Alternative Asset Manager Takeaways
Within alternative asset management, four of the public managers, ARES, BX, CG, and
KKR presented, while the others did meetings. During the conference we polled the
audience on several key topics including the outlook for the equity and real estate
markets, potential impacts from the recent election, distribution outlook, and firm
structures and business models. Investors were generally bullish on the equity market,
potential for fiscal stimulus ahead, and a key focus from investors was on the potential
change in taxes following the election, and whether that means reassessing corporate
structures for the alts, with a possible change from PTP to C-corp.
Investors bullish on the equity markets
Our polling results indicate that investors are generally positive on equity market returns
over the next year. When asked “What is your expectation for equity market returns over
the next year?” the most common response was +0-10% (51%), followed by 10%+
(25%), 0 to -10% (15%), and <-10% (8%).
Chart 10: What is your expectation for equity market returns over the next year?
60%
50%
51%
40%
30%
25%
20%
15%
10%
8%
0%
10%+ 0 to +10% 0 to -10% More than a 10%
pullback
Source: BofA Merrill Lynch Global Research
Investors are less positive on the real estate market
When asked “Where do you think we are in the overall Real Estate cycle?” most people
think that we are in the middle innings with a few pockets of concern (57%), followed
closely by later innings with growing areas of concern (42%). Very few people think that
we are in the early innings of the real estate cycle (1%).
2016 Future of Financials Conference | 17 November 2016 7
Chart 11: Where do you think we are in the overall Real Estate cycle?
60%
57%
50%
40%
42%
30%
20%
10%
0%
1%
Early innings with limited areas
of concern
Middle innings with a few
pockets of concern
Late innings with growing areas
of concern
Source: BofA Merrill Lynch Global Research
Investors like the growth, superior performance, & distributions
When asked “What is the most attractive aspect of investing in an alternative asset
manager?” investors like both attractive growth & superior performance and high
dividends/distributions (both at 35%). Investors also like the long term locked up capital
(18%), while low valuations and wide moats were less important (both at 6%).
Chart 12: What is the most attractive aspect of investing in an alternative asset manager?
40%
35%
35% 35%
30%
25%
20%
18%
15%
10%
5%
6%
6%
0%
Attractive organic
growth & superior
performance
High
dividends/distributions
for shareholders
Wide moats for
established firms
Long term locked up
capital
Low valuations
Source: BofA Merrill Lynch Global Research
Despite moderating distributions of late, most expect flat to higher in ‘17
When asked “Where do you think distributions for the industry will be in 2017 vs.
2016?” investors expect roughly flat or up 5-15% (both at 37%), followed by down 5-
15% (21%). Few investors expect distributions to change more than 15% year-overyear.
8 2016 Future of Financials Conference | 17 November 2016
Chart 13: Where do you think distributions for the industry will be in 2017 vs. 2016?
40%
37% 37%
35%
30%
25%
20%
21%
15%
10%
5%
0%
0%
Roughly flat Up 5-15% Up 15%+ Down 5-15% Down 15%+
5%
Source: BofA Merrill Lynch Global Research
Election results could have far reaching impacts for the sector
When asked “What is the most likely impact from the election results on the alternative
asset managers?” investors were fairly mixed in their responses, indicating to us that
investors expect a number of changes. The most common response was increased tax
on carried interest (33%), followed by higher rates impacting financing costs and some
returns (27%), then stronger economic growth and healthy returns (20%). Few investors
expect a decrease in bank regulation slowing alternative manager growth in new areas
(13%) along with too much euphoria leading to a market correction (7%).
Chart 14: What is the most likely impact from the election results on the alternative asset managers?
40%
35%
30%
25%
20%
15%
10%
5%
0%
20%
33%
Stronger economic Increased tax rate
growth and on carried interest
healthy returns for
the alternative
managers
27%
Higher rates
impacting
financing costs
and some returns
13%
Decreased bank
regulation
potentially slowing
growth in new
areas
7%
Too much
euphoria leading
to a market
correction and
deployment
opportunities
Source: BofA Merrill Lynch Global Research
Specialty / Consumer finance Takeaways
Companies were generally bullish on the US consumer heading into 2017. AXP
presented a fairly upbeat outlook on billings, loan and revenue growth, while cautioning
that Discount rate pressures and FX headwinds could impact near-term results. The
2016 Future of Financials Conference | 17 November 2016 9
private tech based lenders were cautiously optimistic that hiccups from earlier this year
were behind the sector, while the private payments companies stressed the importance
of partnering with incumbent leaders and the need to maintain safety standards.
US Banks Top Takeaways
Associated Bancorp (ASB) B-3-7, Underperform
• A strong Midwest market should lead to steady growth: ASB’s CEO Phillip Flynn
and CFO Chris Niles highlighted the strong fundamentals of the bank’s Midwest
footprint with its low unemployment and a strong manufacturing base. While
commenting on the potential for relief coming out of DC under the new Trump
administration, management noted that shortage of skilled workers was probably
the biggest issue impeding businesses in its footprint versus higher taxes or an
overly stringent regulatory environment.
• CRE represents a growth opportunity: Management was positive on growth
prospects within the CRE loan portfolio, which represents 24% of avg loans as of
3Q16. Management is targeting CRE to represent 30-40% of the portfolio in order
for consumer, CRE, and commercial to each comprise approximately a third of the
loan book. In the near term, executives see opportunities in the CRE space in 2017
as pricing and structure improve benefitting from a pullback by lenders with high
CRE concentration.
• Energy portfolio should begin to stabilize: While management analyzes the
energy book on a credit by credit basis, it noted caution if oil prices fell
significantly. However, management noted that the energy book reflects lower
energy prices as new energy loans price in lower hydrocarbon pricing vs. the
maturing loans. Regarding energy loan growth, management expects muted growth
going forward as the benefit from new loans will most likely be offset by continued
pay-downs by existing customers.
• Dec rate hike to surface in 1Q17 margin: Management expects a Dec rate hike to
have little impact on 4Q given that its LIBOR based portfolio would re-price on Jan
1. On the other hand, interest expense is expected to rise as deposits that are
linked to benchmark rates re-price higher. Last year, the margin fell 1bp QoQ
following the Fed rate hike as deposit costs rose 8bp QoQ. Management noted that
1Q16 saw lower loan renewal rates and compression from cost of funds, but that
its cost of funds are in a better position this year, which should help lead to a
modest positive impact to the margin in 1Q17 from a Dec rate hike.
• Fee businesses could get augmented by additional M&A: Within fees,
management views insurance as the best opportunity from non-bank M&A. Recall
that ASB completed the acquisition of Ahmann & Martin in 02/15. Management
noted that it saw a significant opportunity from providing consulting services
around employee benefits to small-to-medium sized businesses. Moreover, any
changes to the Affordable Care Act that creates added uncertainty in the market
would present an incremental revenue growth opportunity for this business.
10 2016 Future of Financials Conference | 17 November 2016
Chart 15: Would you want to see ASB partner with emerging online lenders to augment organic
growth?
70%
60%
50%
40%
30%
20%
10%
0%
Yes, partnership with online lenders provides a
good source of loan growth
No, given the uncertainty around how these
loans will perform during a credit downturn
Source: BofA Merrill Lynch Global Research
BB&T (BBT), B-1-7, Buy
• Pent up demand in small and middle market corporates. COO Chris Henson was
upbeat with regards to the growth outlook for the US economy post the US
elections, particularly from middle market companies that have been extremely
cautious around making investments over the last few years. Mr Henson noted that
as business confidence rises on back of potentially stronger job growth and lower
tax reductions, BBT should see strength across its core banking operations.
• Out of M&A in the near term but looking to grow long term. Management
reiterated that it is out of the M&A game for now as it looks to execute on
delivering its targeted synergies from recent deals. That said, management expects
to eventually engage in M&A deals with BBT having the infrastructure for double its
size, noting that scale has become important in the current regulatory landscape.
When asked where investors would like BBT to focus on doing deals, 59% noted
that it would like management to pursue fee related businesses while 23% would
like management to prioritize dividend maximization.
Chart 16: Do you expect the deal activity in financial services to pick up
in 2017?
Chart 17: Once M&A is back on the table, where would you like to see
BBT focus on doing deals?
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
87%
Yes
13%
No
70%
60%
50%
40%
30%
20%
10%
0%
18%
Depository deals
59%
Fee-related
businesses
23%
Would rather they
prioritize maximizing
the dividend
Source: BofA Merrill Lynch Global Research
Source: BofA Merrill Lynch Global Research
• Well positioned from rising rates. Given the outlook for higher interest rates on
both the short and long end of the curve, Mr. Henson noted that while BBT tries to
maintain a relatively neutral balance sheet, it would expect to see upside in the
margin on back of higher rates. Additionally, higher long rates could also help drive
2016 Future of Financials Conference | 17 November 2016 11
lower pension expense as it reduces the overall discounted pension liability given
that BBT remains one of the few large regional banks that still have defined benefit
pension plans.
• Potential for regulatory relief requires BBT to reevaluate risk/compliance
spending. Management noted that 75-80% of its infrastructure budget is based
around risk management and regulatory costs. Given the possibility of regulatory
relief coming out of the new administration, management noted that it does not
want to misallocate its expense spending. As such, management expects to
redeploy some of those compliance related costs into revenue and service
generation opportunities stemming from any regulatory relief.
• Branches still have value, but the structure will likely change. Mr. Henson noted
that he still sees value from BBT’s branch network but increasing customer usage
across its digital channels and with branch transactions down 4%, he expects
continued branch consolidation at a pace of more than 2-2.5% over the next couple
years. Moreover, management believes that future branches will be likely be
smaller in nature and staffed with fewer people that are cross trained with multiple
responsibilities. As an example of this, Mr. Henson noted that BBT has combined its
teller and relationship banking role into one branch banker role.
Chart 18: What do you think is the biggest catalyst for BBT shares over the next 12-24 months?
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
30%
Successful
integration of its
recent deals and
achieving synergy
targets
41%
Strong top-line
organic revenue
growth, regardless
of macro backdrop
11%
Expense
rationalization
15%
Accretive bank
and/or non-bank
deals
4%
Continued
outperformance in
dividend growth
and dividend yield
Source: BofA Merrill Lynch Global Research
Bank of Hawaii (BOH), B-3-7, Underperform
• Solid loan growth on back of a strong HI economy. Chairman, President and CEO
Peter Ho, Vice Chairman and CFO Kent Lucien and Senior Executive VP, Controller
and Principal Accounting Officer Dean Shigemura were generally upbeat with
regards to the operating outlook as we enter 2017. Management guided to
achieving low double digit loan growth on the back of a robust Hawaiian economy.
While management expects some moderation in C&I growth following a strong 3Q
it sounded upbeat around the lending outlook given fairly healthy tourism activity.
Management noted that while a de-emphasis on the Pacific Alliance, a priority for
the Obama administration, was not a positive development, it remained fairly
confident that strong military spending should continue to serve as a tailwind to the
Hawaiian economy.
• Credit outlook remains benign. Mr. Ho affirmed the credit environment has been
benign and believes BOH’s strong credit will remain intact in the near future. As
loan growth improves, Mr. Ho acknowledged provisions should follow a similar
trend, but nothing on the horizon suggests credit will worsen anytime soon.
Management acknowledged reserve balances are hard to predict, but believes the
12 2016 Future of Financials Conference | 17 November 2016
greatest likelihood is for the loan loss reserve ratio is to stabilize near current
levels.
• Remains asset sensitive. Management acknowledged positive trends coming out
of a future Trump administration, with one being the positive benefit from higher
rates. With a December rate hike likely on the horizon, CFO Kent Lucien reminded
investors that a 25 bp rate increase would benefit NII marginally ($1.5mn on an
annual basis), but as the 10yr continues to rally, spread income will benefit more
significantly. A 100 bp increase contributes to a 5.2% increase in NII on an annual
basis.
• Continued focus on expenses. Management expects expenses to come in at the
upper end of their 3% to 3.5% guidance this year, mainly due to performance based
expenses such as stock based comp and commissions. A potential source of
expense savings should be reduction in the size of its branches, not necessarily
overall count. While management has piloted this new branch design it believes that
converting the entire branch network will be a multiyear process.
• Capital deployment remains a priority. BOH continues to provide great
transparency in regards to their capital deployment strategy. Management
reiterated their commitment to payout 50% of net income in the form of dividends,
with a remaining portion going to buybacks. BOH has completed over $400mn in
buybacks over the past five years and noted that they are very comfortable with
this strategy, given its proven track record.
Chart 19: What do you see as the biggest headwind to BOH’s 2017 EPS growth outlook?
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
20%
Normalizing credit
provisioning costs?
40% 40%
Slowing loan growth
following a strong 2016
Pressure on expense
growth
0%
Pressure on the net
interest margin
Source: BofA Merrill Lynch Global Research
2016 Future of Financials Conference | 17 November 2016 13
Chart 20: With regard to capital deployment, what would you like management to focus on?
70%
60%
57%
50%
40%
30%
29%
20%
14%
10%
0%
Increase dividend payout
Increase the pace of share
buybacks
Continue with current capital
management strategy
Source: BofA Merrill Lynch Global Research
Capital Bank Financial (CBF), C-1-7, Buy
• Investor expectations for CBF to achieve its ROA target increased YoY. Of the
audience polled, 75% believe CBF to achieve its 1.1% ROA by YE17. This compares
to 67% of the audience polled last year. CEO Gene Taylor highlighted both the
organic growth opportunities and limited expense growth for the bank to achieve
its ROA target. Although the bank is expected to cross $10bn in assets next year,
management sounded confident that there would be little incremental expense
growth as the bank has already built out leverageable systems.
Chart 21: What do you consider as the single most important catalyst
for CBF shares in 2017?
60%
50%
40%
30%
20%
10%
0%
50%
Achieving its
profitability
targets
42%
A bank
acquisition
Source: BofA Merrill Lynch Global Research
0% 0%
Acceleration
in loan
growth
8%
Increasing Higher
capital returninterest rates
Chart 22: Do you think CBF will achieve its 1.1% core ROA target by
YE17?
80%
70%
60%
50%
40%
30%
20%
10%
0%
75%
Yes
Source: BofA Merrill Lynch Global Research
25%
No
• Expectations around COB merger remain intact. CBF reiterated their
expectations to fully recognize the 39% of cost savings related to the
CommunityOne merger by 2017 year-end. (Systems conversion is slated for mid-
1Q17, with initial savings expected to be realized starting 2Q17). During their
presentation, management introduced the source of these savings (new disclosure),
with the majority expected to come from executive management compensation
(23%) and back-office functions (33%).
• Capital deployment remains a key catalyst for the stock. Management agreed
with the 80% of the audience polled that believe the pace of M&A activity will pick
YoY (slightly better than last year’s forward expectations). While management noted
that it remains focused on integrating COB, and acknowledged that it remains
14 2016 Future of Financials Conference | 17 November 2016
active in terms of M&A discussions, CBF continues to evaluate all opportunities
that promise the best returns for shareholders. Interestingly, investor sentiment
around CBF’s positioning within the M&A market shifted, 75% of respondents
believing the pro forma institution is better positioned to act as an acquirer. (Note
last year, 55% of respondents believed CBF would be a takeout candidate in the
medium term.
Chart 23: Do you think the pace of M&A activity will pick-up significantly
in 2017 vs. 2016?
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
80%
Yes
Source: BofA Merrill Lynch Global Research
20%
No
Chart 24: Does the acquisition of CommunityOne better position CBF as
an acquirer or a takeout candidate?
80%
70%
60%
50%
40%
30%
20%
10%
0%
75%
Acquirer
Source: BofA Merrill Lynch Global Research
25%
Takeout candidate
• CBF expected to prudently grow in CRE as bank is underpenetrated. CFO Chris
Marshall acknowledged that there exist signs of frothiness within the multi-family
lending segment. That said, he noted there is still room to grow as peers pull back
in response to regulatory oversight (3Q: 161% vs. 300% threshold). That said,
management remains selective and has implemented a 25-30% concentration limit
(3Q: 22%).
Citigroup (C), B-1-7, Buy
• Markets revenue up YoY so far, down from robust 3Q. President and CEO of ICG
Jamie Forese and CFO John Gerspach noted that at this current point in time, they
expect a seasonal sequential decline in Markets revenue in 4Q, but revenues should
be up YoY on back of stronger activity levels post the election. Moreover, banking
activity is looking consistent with prior quarters.
• DTA impact from lower tax rates. Given the possibility of lower tax rates under
the new administration, there have been many questions around what a potential
tax cut could mean on C’s ability to re-capture some of its DTA. Management noted
that the impact will depend on 1) the ultimate tax rate, 2) either a worldwide or
territorial regime, and 3) the time it takes to reflect the new changes. A federal tax
cut would directly impact the $21B timing related differences component of its
DTA balance. Assuming a 20% decline in the federal tax rate, this would imply a
$4B charge to the P&L (20% X $21B). That said, C has $7B of timing difference
DTA that is not includable in its regulatory capital. As a result, that $4B impact
would not have an impact on its CET1. In the event that there is a territorial regime,
there is an element in its foreign subs equal to ~30% of the $21B that would lose
its value at an accelerated rate. Assuming a 25% tax rate and territorial regime,
management noted that there would be roughly $12B worth of DTA that would see
some valuation adjustment and drive a $4B of reduction in its regulatory capital.
• Aiming to improve market share in Equities. Management noted that C currently
ranks around 8-9th in the Equities business and while it is not looking to achieve a
top 3 market share, it would like to improve to around 5-6th. Management noted
that the revenue gap to reaching that ranking is ~$1B. While not all of that is
2016 Future of Financials Conference | 17 November 2016 15
expected to fall to the bottom line, management noted that achieving this would be
accretive to its overall margin. We note that when asked where is C’s biggest
opportunity to take global market share within ICG, 47% of those polled said the
biggest opportunity lied within the Equities business.
Chart 25: Where do you think C’s biggest opportunity is to take global market share within its IGC
business?
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
Source: BofA Merrill Lynch Global Research
• Lower regulatory constraints versus peers present opportunity. Given C’s strong
regulatory position such as its above peer SLR ratio, management noted that it can
compete in balance sheet intensive businesses such as Rates while more
constrained peers are forced to pull back. In terms of its ability to take market share
away from European banks, management noted that European banks are more likely
to cede share in Fixed Income and less so within Equity and Banking.
• Longer term goal of 14% ROTCE in ICG. Management believes that under a more
normalized rate environment and through its work towards improving efficiencies
across ICG on back of its infrastructure refinements, ICG should be able to achieve a
14% ROTCE vs ~12% today.
Chart 26: Despite material progress, C shares still trade below TBV. What will drive shares to re-rate
closer to TBV?
40%
35%
30%
25%
20%
15%
10%
5%
0%
31%
Source: BofA Merrill Lynch Global Research
47%
22%
Fixed income markets Equity markets Banking (Treasury & Trade
Solutions, advisory, ECM,
DCM)
34%
Continued
increase in capital
return from the
$10.4B expected
return under the
2016 CCAR cycle
37%
Consistent
improvement in
revenue
momentum
12%
Continued core
cost control, with
further reductions
in legal &
repositioning
charges
10%
Accelerated recapture
of its
deferred tax asset
(DTA)
7%
Further
simplification of its
global business
model
16 2016 Future of Financials Conference | 17 November 2016
Chart 27: Where do you see Citicorp’s efficiency ratio settling in 2017?
80%
70%
71%
60%
50%
40%
30%
20%
10%
21%
9%
0%
Below the 58% reported YTD in
‘16
In-line with the 58% reported
YTD in ‘16
Above the 58% reported YTD
in ‘16
Source: BofA Merrill Lynch Global Research
East West Bancorp (EWBC), B-1-7, Buy
• Sentiment post-election appears constructive on regulatory relief. CEO
Dominick Ng noted that the industry could be positively impacted should aspects of
Dodd-Frank, which have been both challenging and taken up significant internal
resources (even for banks below the $50bn SIFI asset threshold), be reformed.
Specifically, Mr. Ng believes the pace of expense growth could likely slow. That said,
he noted the possibility to shift some of these expense savings to revenue
generating areas.
• EWBC sees limited impact from anti trade rhetoric during the run-up to the US
elections. Although recent political rhetoric on China has had a negative bias, Mr.
Ng believes these views are primarily focused on the traditional-manufacturing
Chinese industries vs. the country’s current strategic emphasis on tech and
consumer/retail. Despite having only a 4% exposure to Greater China (includes Hong
Kong), EWBC benefits from its unique positioning, both as industry experts in
parallel industries and as a relationship bank. Investor sentiment agreed; with 86%
of the audience polled have a bullish view of EWBC’s China exposure.
Chart 28: How does China exposure impact your investment thesis on EWBC?
50%
43%
43%
40%
30%
20%
14%
10%
0%
Makes me cautious,
especially given the
anti-trade rhetoric in
the run-up to the US
elections
Makes me bullish, as
China provides an
attractive growth
opportunity
0%
Makes me cautious,
given a slowing
Chinese economy
Does not matter much,
given EWBC’s earnings
are far more levered to
the US economy
Source: BofA Merrill Lynch Global Research
• EWBC reiterated its strategy to sell CRE loans in favor of portfolio
diversification. Although Mr. Ng expressed caution on the overall commercial real
estate (CRE) market, he noted seeing little tangible signs of concern within EWBC’s
footprint. That said, EWBC could continue to look to sell CRE loans in order to keep
the loan portfolio balanced and thereby limit the reliance on any one segment. Note:
CRE concentration was 261% of risk-based capital as of 3Q vs. 265% in 2Q.
2016 Future of Financials Conference | 17 November 2016 17
• EWBC to maintain capital for organic growth opportunities. As of 3Q, EWBC’s
CET1 ratio was 10.9%. While EWBC isn’t opposed to using excess capital for an
acquisition (depending on the market landscape), Mr. Ng prefers to use capital to
support organic growth opportunities and the dividend (1.75% div yield). With
respect to share repurchase, EWBC seemed less enthusiastic to buy back stock at
current valuation levels (2.3x TBV).
First Hawaiian (FHB), C-2-7, Neutral
• Positive outlook around the Hawaiian economy. Chairman and CEO Robert
Harrison and CFO/Treasurer Michael Ching were optimistic with regards to the
outlook for the Hawaiian economy, particularly around tourism trends. While the
recent strength of the dollar could impact the inflow of foreign tourists (with Japan
and Canada the key foreign markets for HI) to the island, management noted that
the potential for an increases in domestic tourism could help offset the pressure
from any slowdown due to a stronger USD.
• Positioned well for higher rates. With regards to its outlook on the impact of
potentially higher interest rates, management noted that it remains asset sensitive
with 60% of its loan portfolio floating rate. On the funding side FHB expects the
deposit beta to remain low given the competitive dynamics in the Hawaii landscape.
Management anticipates that another 25bp increase in the Fed Funds rate in
December could have a similar impact on the NIM (+6bp) as it experienced
following the previous rate hike in Dec '15.
• Cash deployment to securities completed. Management noted that it has
completed the liquidity actions that it planned to take from deploying excess cash
into its securities portfolio and the full impact of this should be visible in 4Q
results. Note the securities portfolio duration is 3.3yrs at the end of 3Q16.
Management noted that it prefers to keep $400-500mn at the Fed in cash liquidity.
• Continued focus on maintaining dividend payout. In terms of capital
management, management reiterated that it would like to maintain a healthy
dividend payout. Given that additional capital return from buybacks are limited due
to the Fed’s CCAR process (which FHB is subject to given that it is part of a larger
holding company owned by BNP), management intends to increase its capital
payout to shareholders (via higher dividend and buybacks) over time.
Expenses to stay relatively elevated in near term. During the audience poll, when
asked about what management should prioritize in 2017, 38% of the investors
polled noted that they would like management to manage core expense growth
while 31% would like management to increase the dividend payout to over 50% of
earnings. Management noted that the efficiency ratio would likely trend around
50%, modestly higher than the 48.5% it reported in 3Q as it incurs additional public
company costs ($14.5 – 17mn of expenses), but over time should move back below
in the mid-to-high 40s.
18 2016 Future of Financials Conference | 17 November 2016
Chart 29: What is the single biggest factor that would prevent you from buying or increasing
exposure to FHB?
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
40%
27%
FHB’s premium valuation Exposure to the auto sector Liquidity overhang tied to a
single large shareholder (BNP
owns 82% of shares o/s)
33%
Source: BofA Merrill Lynch Global Research
Chart 30: What would you like management to prioritize in 2017?
40%
35%
30%
25%
20%
15%
10%
5%
0%
38%
Managing core
expense growth to
under 2.5%
31%
25%
Increase its dividend Initiate a stock buyback
payout to over 50% of program
earnings
6%
Pursue M&A
opportunities
Source: BofA Merrill Lynch Global Research
Great Western Bancorp (GWB), B-1-7, Buy
• GWB sees three potential benefits following the US presidential election
results. Chief Financial Officer Peter Chapman sounded optimistic that clarity
around the corporate tax policy could act as a much needed impetus to spur lending
activity. Secondly, current prospects for Head of Ag under the new administration
are viewed as a net positive for the industry. Lastly, while GWB has already begun
to see regulatory costs increase now that they’ve exceeded $10bn in assets,
management could see a potential for compliance costs to rationalize should the
new administration reform the regulatory framework.
• Management’s revised growth rate outlook was meant to level set
expectations. During its 3Q16 earnings call, management tempered loan growth
expectations slightly to “mid-single” digits for FY16 vs. “mid-to-high” single digits.
Interestingly, this was the number one reason among investors polled as to why
they were hesitant to increase their exposure to GWB. That said, management
sounded optimistic about the growth opportunities within its AZ and CO markets.
While growth in C&I should see continued momentum, management noted
increased competition around pricing as banks tapped out of the CRE markets look
to make C&I loans. On CRE, GWB sees itself as a potential beneficiary from pullback
by some of its competitors. While management was generally constructive of the
2016 Future of Financials Conference | 17 November 2016 19
CRE market across its footprint it noted some caution around the health of the
market in Denver.
Chart 31: What is the primary reason keeping you from buying/increasing exposure in GWB?
40%
38%
38%
35%
30%
25%
25%
20%
15%
10%
5%
0%
Ag exposure, as the weakness Stock valuation, see better Cautious commentary around
in the farm sector increases risk/reward elsewhere loan growth during 3Q16
credit risk
earnings
Source: BofA Merrill Lynch Global Research
• Ag portfolio offers unique opportunity, but management believes fears
overstated. As of 3Q16, ag loans represented 25% of the total portfolio (36% in
grains, 50% in proteins and 14% in other). Tied for first at 38% as a reason why
investors are hesitant to increase exposure to GWB resonates from the bank’s ag
exposure. While lower grain prices may constrain cash flow on those loans nearterm,
Mr. Chapman noted that this is offset by stronger yields. Management also
highlighted the relatively low losses observed historically in this portfolio given the
significant experience within GWB's management ranks in lending to this segment,
including in the 1980s the last stress period for the farm sector. That said,
management remains committed to this business as it is key to GWB’s footprint.
• Management reiterated its commitment to actively manage excess capital.
Although management is comfortable with its current capital levels (3Q: 9.5% tier 1
leverage), Mr. Chapman noted the bank’s preference is to put its excess capital to
work. Management reminded investors of the criteria it looks for in a potential
target. While they continue to look for opportunities within their footprint,
specifically IA and KS, they remain disciplined. In addition to its recently authorized
repurchase program of $100mn, management believes a total payout ratio of 30%
is maintainable.
IBERIABANK (IBKC), B-1-7, Buy
• Focused on moving closer to its strategic targets: President and CEO Daryl Byrd
and Senior Vice President John Davis were upbeat around the outlook for economic
growth across IBKC's 10 state footprint as the bank looks out into 2017. While
management has thus far not provided any specific guidance for 2017, we expect
this to be forthcoming in conjunction with the announcement of 4Q16 results in
January. Moreover, management sounded cautiously optimistic that pro-growth
policies (if implemented) coupled with some relief on the regulatory front under the
new Trump administration could lead to a much stronger growth outlook
• Energy credit costs should trend lower: Management noted the overall energy
portfolio should continue to trend lower but is expected to moderate as run-off in
stressed energy loans (and loan payoffs) are partially offset by new energy loans,
with management looking to selectively lend again in the sector. Moreover, with
energy criticized loans peaking in 1Q16, management expects the criticized loans to
trend lower barring any major declines in oil prices.
20 2016 Future of Financials Conference | 17 November 2016
• Ready for M&A: While a depressed valuation (due to the volatility surrounding oil
prices) had kept IBKC out of M&A, given the recovery in valuation it noted its desire
to pursue potential deals across its footprint. Management also noted that while
the recent move in equity markets had pushed up valuations for potential publicly
traded sellers, it sees significant opportunity among the privately held banks that
may look for a merger partner to gain liquidity and monetize the improving
sentiment surrounding bank stocks. From a size standpoint, management did not
rule out larger deals. This is not surprising given that IBKC has not shied away from
pursuing relatively large sized deals previously.
• Rate increase to boost the margin: In terms of its interest rate sensitivity,
management noted that it retains an asset sensitive balance sheet, with a potential
25 basis point move in the Fed Funds rate expected to add 5c to quarterly EPS.
That said, management recognized that slower mortgage activity due to rising long
rates could temper the revenue outlook for its mortgage business.
Chart 32: What is the biggest factor that prevents you from owning or adding exposure to IBKC?
60%
50%
50%
40%
30%
20%
20%
30%
10%
0%
Energy exposure
Potential that the bank will
enter into a large M&A deal
Valuation, see better
risk/reward elsewhere
Source: BofA Merrill Lynch Global Research
JPMorgan Chase & Co (JPM), B-1-7, Buy
• Pent up demand from macro uncertainty offers growth opportunity. Doug
Pento, CEO of JPM’s Commercial Bank, sounded optimistic around the opportunity
within commercial banking from the pent-up demand in the market that was
constrained by the uncertainty surrounding the election. In addition, he highlighted
the increased opportunity generated by JPM’s expansion into 44 new markets since
2008, specifically in LA. This coincides with 62% of the audience polled who believe
top-line revenue growth is most important for the stock to continue its
outperformance.
2016 Future of Financials Conference | 17 November 2016 21
Chart 33: As a current or prospective JPM shareholder, what do you think is most important for the
stock to continue its outperformance next year?
70%
60%
50%
40%
30%
20%
10%
0%
62%
Top-line revenue
growth
0%
Continued
expense
management
14%
Positive shift in the
interest rate
backdrop
10%
Accelerating
capital return
14%
More clarity on
regulatory and/or
litigation issues
facing the industry
Source: BofA Merrill Lynch Global Research
• JPM cautious on CRE; however, overall credit remains benign. Forty-eight (48%)
percent of the audience polled believe concerns around multi-family fundamentals
will be concentrated in certain regions. Although credit for the overall bank remains
benign, Mr. Petno believes we are in the later stages of the real estate cycle and
expressed a cautious tone on the high-end condo/construction market. That said,
JPM is primarily exposed to more stable, multi-family credit (i.e. rent-controlled
apartments) where the average loan to value is 60%.
Chart 34: How do you view fundamentals for multifamily lending in 2017?
60%
50%
40%
30%
20%
10%
0%
6%
Softening
fundamentals
should lead to
slower financing
activity next year
3%
Softening
fundamentals
should lead to
worsening credit
metrics
35%
Softening
fundamentals
should lead to
slower financing
activity and
worsening credit
metrics
48%
Some concern, but
only in certain
regions and at
certain rental price
points
6%
No concern
Source: BofA Merrill Lynch Global Research
• With tech/digital intellectual property at fingertips, capabilities within CB are
on horizon. Mr. Pento expressed his intention to leverage the technology that the
Investment Bank has and the investments that the Consumer Bank has to build the
right digital and mobile platforms for the bank’s commercial clients. He noted that
they have the largest investment and digital budgets ever this year and expect it to
increase next year.
New York Community Bancorp (NYCB) C-1-8, Buy
• Completion of Astoria acquisition best outcome for both banks: Following the
recent announcement of a regulatory delay in getting approval for the Astoria
acquisition, NYCB CEO Joe Ficalora and CFO Thomas Cangemi reiterated that
closing the Astoria deal represents the best outcome for both banks. Beyond that
management was limited in its ability to talk about what particular factors led to
the delay and refrained from providing a specific timeline to close the deal
assuming that the BoDs at both banks agree to extend the deal deadline beyond
22 2016 Future of Financials Conference | 17 November 2016
YE16. Management was quite clear that the bank was unlikely to cross the $50bn
SIFI asset threshold on an organic basis until the SIFI threshold is moved higher,
which would take an act of Congress.
Chart 35: What is the biggest risk that prevents you from owning/increasing exposure to
NYCB?
60%
50%
40%
41%
53%
30%
20%
10%
6%
0%
Uncertainty tied with the
Astoria acquisition
Overhang from a softening in
the NYC multifamily space
Liability sensitive balance sheet
that could see pressure on the
margin from rising interest
rates
Source: BofA Merrill Lynch Global Research
• Regulatory relief would be meaningful for NYCB: Given that the prolonged
timeline for gaining regulatory approval for the Astoria acquisition can be attributed
to the pro-forma entity crossing over the $50bn SIFI asset threshold, management
noted the significant relief it would receive from legislative action that would push
this threshold higher. This would not only make the regulatory burden following the
closing of the Astoria acquisition more manageable, but would also allow NYCB to
look at additional M&A opportunities once it integrates Astoria. Moreover, any
potential relief on LCR compliance would also be welcomed by management as it
would remove a source of significant pressure on its net interest margin.
• Higher rates could accelerate refinance activity: While investors tend to view
rising rates as a headwind to refinance activity, management noted that it had
already seen a pick-up in applications as borrowers look to lock-in rates based on
the fear that rates could be significant higher 6-12 months out. As a result, this
could provide a near term boost to the margin from higher prepay income.
• Steepening yield curve leading to rising lending rates: Management noted that it
had recently increased its multifamily coupon by 0.375% to 3.50% on the improved
interest rate environment. NYCB was not alone in this rate hike as SBNY
commented that it recently moved up lending rates for its 5-year and 7-year fixed
multi-family loans. Notably, the increased lending rates are above the current book
yield of NYCB's loan book implying the potential to offset some of the potential
pressure from higher funding costs following the December rate hike.
• NYCB able to withstand downturn in multifamily market: Management was also
upbeat on its ability to withstand a downturn in the multifamily market given its
history through multiple credit cycles of outperforming on credit metrics. While it is
debatable how close we are to the next downturn, we believe that the defensibility
of NYCB's balance sheet is a key strength of the bank and should create significant
2016 Future of Financials Conference | 17 November 2016 23
organic and M&A driven growth opportunities during the next downturn. That said,
management noted that it was very likely that potential pro-growth measures taken
by the incoming Trump administration could push out any downturn, as in the short
run the economy would witness stronger growth.
Chart 36: How do you view fundamentals for multifamily lending in 2017?
60%
50%
40%
30%
20%
10%
0%
11%
Softening
fundamentals
should lead to
slower financing
activity next year
0%
Softening
fundamentals
should lead to
worsening credit
metrics
28%
Softening
fundamentals
should lead to
slower financing
activing and
worsening credit
metrics
50%
Some concern, but
only in certain
regions and at
certain rental price
points
11%
No concern
Source: BofA Merrill Lynch Global Research
Regions Financial (RF), B-2-7, Neutral
• Regions harnessing consumer to drive growth: Scott Peters, Senior EVP and
Consumer Services Group Head, Logan Pichel, Consumer Lending Group Head, and
Darren Smith, Treasurer, noted that Regions is utilizing its retail platform to drive
growth. Management highlighted strength in mortgage, card, and online lending as
avenues for growth. Importantly, management felt the US election has provided
tailwinds for Regions revenue growth prospects heading into 2017. Combined with
a better rate back drop, management sounded upbeat on its outlook.
Chart 37: What do you think is the biggest impact of the GOP sweep to bank earnings?
40%
30%
20%
10%
20%
36%
32%
12%
0%
Interest rates rising
faster across the curve
due to stronger dollar
Tax cuts and
infrastructure spending
spurring growth,
therefore better loan
demand
Lower regulatory
burden, driving higher
ROEs as excess
capital is returned
back to shareholders or
reinvested for growth
No real impact/too
early to tell
Source: BofA Merrill Lynch Global Research
• Multiple channels to drive loan growth: Management illustrated several avenues
for loan growth. Within mortgage, Regions has 450 originators that generate 95%
of its $6bn in annual originations. Management is seeking to increase its
originations from home loan direct and telephone banking to 15-20% of total
originations (currently 5% of originations) given the greater profitability from these
channels. Card growth has also been strong with active credit card growth at 12%
24 2016 Future of Financials Conference | 17 November 2016
YoY and card penetration reaching 20%. Importantly, management is utilizing online
lenders like GreenSky, a nationwide point-of-sale home improvement business, to
drive growth as balances having increased to $660mn (1% of loans) from its 2014
inception. Of note, management expects challenged growth in auto, though its
exclusive lending to the prime space limits the credit downside.
Chart 38: How do you view the impact of new online lending startups on the banking
industry?
60%
50%
40%
30%
54%
38%
20%
10%
8%
0%
A revenue growth opportunity
as banks partner with these
new players
Potential disruptors that will
likely take market share away
from traditional lenders
Online lending start ups don’t
offer anything proprietary
Source: BofA Merrill Lynch Global Research
• Possible tailwind from regulation: Management at Regions noted that while it is
still uncertain how the regulatory landscape will evolve, a more favorable
environment could allow Regions to free up investments tied to regulatory
initiatives and risk management. Management would likely direct these funds to
product development and customer initiatives.
• Asset sensitive, particularly to the long end: Regions’ executives noted its highly
asset sensitive balance sheet given the more favorable rate back drop since 3Q.
According to management, a 100bp parallel shift in the yield curve produces
~$175mn in incremental spread revenue (11% of ’17e operating income) with twothirds
of the impact coming from the middle to long end of the curve. Part of the
benefit of a rate rise is derived from lower premium amortization on its investment
portfolio from higher rates. Given the steepening of the yield curve, we expect
Regions to benefit more than peers.
• Branch network continuing to evolve: Management intends to increase the
productivity of its branches through several measures. Firstly, it is designing
smaller, more visible locations to drive traffic. Management is also implementing
the universal banker model, which has already resulted in 500 fewer tellers, in order
to increase revenues at branches. Management noted that it expects to consolidate
at the higher end of its expected 100-150 branch reductions, having already
identified 90 branches for closure.
Signature Bank (SBNY), B-1-9, Buy
• Focused on $4-6bn asset growth target: President & CEO Joe DePaolo & EVP Eric
Howell sounded fairly optimistic about the outlook for balance sheet growth with
$4bn in loan growth and $4.6bn in deposit growth YTD as of 9/30 vs. management
target for $4-6bn in annual asset growth. Management reiterated that the
fundamentals of the multifamily business (which is focused on the low-to-moderate
2016 Future of Financials Conference | 17 November 2016 25
income segment) have not changed despite the headlines surrounding a softening
in the multifamily space.
• Hiring bankers, even as team hiring on pause: On the hiring front, management
noted that although it does not expect to hire teams heading into year-end, it is
continuing to hire individual bankers (recently hired 4 to 5 lenders). Hiring will be
focused on C&I and specialty finance lenders. Management does not expect to hire
additional CRE lenders.
• Easing in regulatory environment could provide some relief on expense growth:
With regard to the potential for some easing of regulatory burden on the banks
(important here as SBNY approaches the $50bn asset threshold) under the
incoming Trump administration management noted that it could see some
abatement in expense growth associated with compliance costs. However,
management is running the business based on the current regulatory framework
and will look for more tangible signs before it makes any changes to investment
decision, especially as it relates to the compliance infrastructure.
• Lending rates reflecting the steepening in the yield curve: SBNY noted that it
had raised rates on its 5-year fixed by 0.125% to 3.5%- 3.625% and 7-year fixed up
by 0.25% to 4.0%-4.125% following the steepening in the yield curve over the last
week. We note that this was echoed by SBNY's NY rival NYCB which also noted
increasing rates on lending products in the aftermath of the move higher in interest
rates. We believe higher rates associated with new loans and better reinvestment
opportunities in the securities portfolio should serve as a tailwind to the margin
even as funding costs will likely trend higher, especially as the Fed raises interest
rates by 25bp in December.
• Regulatory scrutiny on multifamily lending manageable: With regard to the
heightened regulatory concerns surrounding CRE multifamily lending (multifamily is
50% of SBNY’s loan book), management noted that it has implemented a new loan
system likely coming on line in 3Q17 which should allow the bank to analyze the
loan portfolio at a more granular level. Management is also underwriting fewer
interest only multifamily loans in response to the regulatory concerns. Although, it
noted that it was not losing any significant business due to this as competitors had
also pulled back and borrower ability (in most instances) to service a non-interest
only loan.
26 2016 Future of Financials Conference | 17 November 2016
Chart 39: How do you view fundamentals for multifamily lending in 2017?
30%
25%
20%
15%
10%
5%
0%
13%
Softening
fundamentals
should lead to
slower financing
activity next year
7%
Softening
fundamentals
should lead to
worsening credit
metrics
Source: BofA Merrill Lynch Global Research
27% 27% 27%
Softening
fundamentals
should lead to
slower financing
activing and
worsening credit
metrics
Some concern, but
only in certain
regions and at
certain rental price
points
No concern
• Confident past most of taxi medallion issues: Management expressed confidence
that it has taken care of most of the issues on its Chicago taxi medallion loan book
and is seeing stabilization of its New York book with New York fleets near 100%
utilization. Management also expects the $20mn +/- in quarterly provisioning
outlook to absorb the impact from any incremental provisioning associated with the
medallion portfolio.
Chart 40: How much does SBNY’s taxi medallion exposure impact your decision to invest in
the stock?
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
33%
Not at all, the portfolio only
accounts for 2% of total loans
40%
A little bit, I think this portfolio
could continue to cause some
EPS volatility
27%
I am staying away from the
name due to this exposure
Source: BofA Merrill Lynch Global Research
Synovus Financial (SNV), C-2-7, Neutral
• SNV hesitant to react too quickly to post-election excitement. Chairman and
CEO Kessel Stelling noted that despite the very positive reaction seen in bank
stocks from the results of the US elections, it was too soon to say the real impact
on growth outlook. That said, he believes that a more encouraging business climate
(i.e. increased infrastructure spending) as well as some regulatory relief (i.e. raising
the $50bn asset threshold) could be a benefit for SNV and the overall industry.
• SNV could see a benefit at both ends of a steepening yield curve. As of 3Q16,
50% of SNV’s total loan portfolio was fixed rate (includes variable rate loans with
floors), implying a benefit to spread income from a rise in both the short- and longend
of the yield curve. With the futures market now pricing in a 94% probability the
Fed raises rates in Dec., CFO Kevin Blair believes the net interest margin could
expand by 6bp in from a 25bp rate hike (vs. +9bp last year). That said, the benefit is
2016 Future of Financials Conference | 17 November 2016 27
dependent on what happens with deposit costs. SNV’s current sensitivity analysis
assumes a 50-60% deposit beta.
• SNV keenly focused on credit. Chief Credit Officer Kevin Howard noted
expectations for net charge-offs to naturally tick up as recoveries become less of a
benefit and some seasoning in the loan portfolio. Recall during its earnings call,
management lowered its FY16 net charge-off range to 10-20bp (3Q: 12bp). Mr.
Howard noted that he would not be surprised if NCOs increased to 15-20bp in 2017
(cons: 12bp) and stay near those levels for the near future.
• Management reiterated its intent to continue to deploy excess capital.
Although SNV will disclose a more detailed capital plan in January, management
expects to continue deploying excess capital via buybacks, M&A and/or organic
growth. When asked how management should utilize its excess capital, 56% of the
audience polled prefers SNV pursue M&A opportunities (vs. 8% last year). In
reaction, Mr. Stelling noted continued interest in strategic acquisitions (like Entaire)
but hesitant to execute a large, dilutive transaction. While DTA accretion could allow
for continued share repurchase, management may choose to be a bit more
opportunistic around buybacks given the run up in the stock.
Chart 41: What would you like to see management do with its excess capital?
60%
56%
50%
40%
33%
30%
20%
10%
0%
0%
Be even more
aggressive on
buybacks
11%
Increase the dividend
payout
Support faster organic
growth
Pursue M&A
opportunities
Source: BofA Merrill Lynch Global Research
• Management is positive but cautious on online lending partnerships. Investors
were also relatively split in how they view SNV’s partnerships with online lenders
SoFi and GreenSky. The majority (57%) remains cautious on how these loans will
perform during a credit cycle. Mr. Stelling agreed; however, he believes these
partnerships represent the right vehicle to help the bank grow its retail portfolio to
20-25% of loans (in line with its strategy to transition away from CRE) and achieve
its 1.0% ROA target (3Q: 0.88%). Although we note that SNV is being deliberate
around growing this book and is targeting these loans to grow to approximately 2-
3% of total loans.
28 2016 Future of Financials Conference | 17 November 2016
Chart 42: How do you view SNV’s partnerships with online lenders (SoFi/GreenSky)?
57%
43%
70%
60%
50%
40%
30%
20%
10%
0%
Positively. Creates another
avenue for loan growth
Cautiously. Unsure how these
loans will perform during a
credit downturn
0%
Indifferent. The exposure is
relatively small so does not
matter either ways
Source: BofA Merrill Lynch Global Research
Texas Capital Bancshares (TCBI) C-2-9, Neutral
• Upbeat on business outlook: TCBI’s President & CEO Keith Cargill, CFO & COO
Peter Bartholow, CAO Julie Anderson, and CLO Vince Ackerson were relatively
upbeat about TCBI’s business outlook. Management expects its mortgage
businesses, particularly MCA to be to be a source of strength even if overall
mortgage volumes were to slow down due to the rise in interest rates. Management
expects to mitigate the negative impact from lower mortgage activity by picking up
greater wallet share of existing clients and given the option to bring back to the
balance sheet loan participations. Regarding expenses, despite expectations for an
uptick in the efficiency ratio over the next couple of quarters management expects
to beat its 2016 efficiency guidance (low-to-mid 50s).
Chart 43: What would drive you to buy or increase your positioning in TCBI?
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
0%
Stronger loan
growth
20%
Higher interest
rates
Source: BofA Merrill Lynch Global Research
47%
Better visibility on
the outlook for the
Texas economy
and oil prices
20%
A pick-up in bank
M&A activity,
especially in
Texas
13%
A pull back in the
stock
• Credit provisioning likely to trend lower in 2017: During an investor poll, nearly
half of investors expect credit provisions to be lower in 2017 vs. 2016, based on
expectations for stabilization in oil prices. Management expressed comfort that
reserve levels should be adequate even if oil prices were to decline to the mid-tohigh
$30s in the near term (vs. spot WTI prices of $45/bbl today). However,
management would need to consider increasing its reserve level if oil falls to the
high $20s. Conversely, if oil stabilizes in the high $50s-low $60 levels, management
could consider reserve releases. Management stressed on looking at the forward
curve when assessing the impact from oil prices on credit costs vs. the spot rate.
2016 Future of Financials Conference | 17 November 2016 29
With regard to growth in the energy book management expects balances to stay
relatively flattish as new growth is offset by pay downs and deleveraging.
Chart 44: Where do you see TCBI’s provisioning in 2017 relative to 2016?
50%
47%
45%
40%
37%
35%
30%
25%
20%
15%
10%
5%
0%
Lower, given the stabilization
in oil prices which should lead
to reserve reversals
Source: BofA Merrill Lynch Global Research
Flat-to-higher, given credit
normalization in the rest of the
book
• Mortgage growth to continue despite a downshift in activity: Management was
optimistic on the outlook for both its mortgage businesses – warehouse lending
and MCA businesses Management expects both these portfolios in aggregate to
total 28-33% of average total loan portfolio. Management tried to debunk the
perception that the MCA business was cannibalizing its warehouse lending business
and noted that two business were complimentary in nature. Moreover, while initially
the vast majority of the MCA customers were the ones that TCBI had a relationship
on the warehouse lending side, it noted that that number had fallen to 50% and is
likely to move lower over the coming quarters. TCBI has a dedicated sales force
prospecting for the MCA business.
16%
Uncertain, as volatility in oil
prices could lead to an
elevated level of provisioning
• Next rate hike to give a bigger boost to EPS: Management noted its high asset
sensitivity with most of their loans tied to LIBOR and prime and its expectations for
an increase in funding costs to remain relatively tempered. With strong demand
deposit growth during the year and a $1bn reduction in loans with floors (from
$3.1bn to $2bn), TCBI has become more asset sensitive relative to last year, when a
rate hike led to a $4mn increase in spread income. Management expects a Dec rate
hike to boost spread income by more than $4mn a quarter.
• Remains cautious around CRE lending: Management noted that it intends to grow
CRE more slowly as it de-risks the portfolio and until it sees a turn in the cycle.
However, management is optimistic on the credit quality of CRE, particularly noting
that trends in its Houston real estate portfolio (Houston special mention loans are
1% of Houston CRE) continue to be fairly benign.
US Bancorp (USB), B-2-7, Neutral
• Strong growth outlook across the business spectrum. CEO Richard Davis
provided an upbeat view around the outlook for the economy across the business
spectrum ranging from small businesses to large corporates and noted that
businesses could drive the economic recovery vs the consumer side.
30 2016 Future of Financials Conference | 17 November 2016
• Continued investments in regulatory costs despite potential regulatory relief.
On the topic of regulation, management noted that it is still too early to know what
type of regulatory relief banks of USB’s size may receive so management has not
slowed down any of its investments in regulatory costs.
• Long term 13.5- 16.5% ROE target unchanged. Despite the outlook for higher
rates, management noted that it was not going to change the range at this point of
time but noted that USB could reach the top end sooner than later if its outlook
proves accurate.
• Risk management compliance expenses sustaining at this level. Management
noted that while compliance related expenses could trend lower following the new
administration, it will continue to invest and the impact will likely not be
meaningful.
• In terms of innovation projects, 86% of those polled noted that it should
invest in innovations projects that are self-funded. Davis noted that given the
importance of innovation, it would not just self-fund those expenses and would look
to spend money for long term benefits. In terms of its P2P initiative with Zelle,
Davis was optimistic around its growth.
• In terms of potential M&A, management noted that it would look for in market
opportunities and double down where it has scale.
Chart 45: What do you consider to be the most important catalyst for large-cap banks in 2017?
60%
50%
52%
40%
36%
30%
20%
10%
0%
Rising interest
rates
8%
Revenue growth
that’s not interest
rate driven
0%
Further
realignment of
cost structures
4%
Stronger return of
capital to
shareholders
Less overhang
from regulatory
and litigation
challenges
Source: BofA Merrill Lynch Global Research
2016 Future of Financials Conference | 17 November 2016 31
Chart 46: What do you consider to be the most important catalyst for USB in 2017?
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
43%
0%
Sustained operating Further acceleration of
leverage, regardless of capital return
rate backdrop
14%
Using excess capital
and strong currency to
engage in nondepository
deals
43%
Rising interest rates
Source: BofA Merrill Lynch Global Research
Wells Fargo & Co (WFC), B-1-7, Buy
• WFC sees modestly better benefit from steepening yield curve vs parallel shift.
Following the election, the 10yr yield is up 37bp while futures currently imply a 94%
probability the Fed raises rates in Dec. As such, Treasurer Neal Blinde noted that
WFC could realize a modestly better benefit to spread income from a steepening
yield curve vs. the current +$150mn/qtr expectation from a 25bp parallel shift. He
outlined how the bank’s actions to manage an interest rate cycle via balance sheet
positioning protect on the downside (i.e. post-Brexit) while at the same time allow
for an uptick when rates rise. WFC received numerous investor questions on when
they would deploy its dry power ($572bn in liquidity), and management noted that
the rate backdrop – not question marks on deposit duration – mostly drove
deployment decisions.
• WFC reiterated its performance targets disclosed at its Investor Day. WFC
reiterated its 2-yr performance targets: (1) 1.1-1.4% ROA; (2) 11-14% ROE; (3) 55-
59% efficiency ratio; and (4) 55-75% net capital payout. As of 3Q16, the bank is
currently within these ranges on all metrics except for efficiency (3Q: 59.4%). This
is consistent with the 61% of the audience polled that expect WFC to perform
within the targeted ROE range as headwinds from Retail Banking is offset by an
improvement in the macro-economy. That said, 50% of the audience polled believe
the issues arising from the retail sales issue will modestly impact earnings (0-5%).
Chart 47: Based on your post-election outlook for 2017, how do you
think WFC will perform against this 2 year target?
Chart 48: What do you think is the earnings impact of the retail sales
practices issue?
70%
60%
50%
40%
30%
20%
10%
0%
39%
Outperform the
range, given likely
higher interest rates
than expected and
less headwind from
regulation
61%
Perform within the
range, as lower
contribution from the
Community Bank will
mitigate a stronger
macro backdrop
0%
Underperform the
range, as consensus
in underestimating
the earnings impact
from the retail sales
practices issues.
60%
50%
40%
30%
20%
10%
0%
37%
50%
13%
Meaningful, at over
5% of EPS, given lost
revenues and higher
operating and
marketing costs
Modest, between 0-
5% of EPS
Community Bank
earnings will be offset
by the rest of the
firm, resulting in no
impact to EPS power
Source: BofA Merrill Lynch Global Research
Source: BofA Merrill Lynch Global Research
32 2016 Future of Financials Conference | 17 November 2016
• WFC continues to make progress on regulatory compliance. As of 3Q, WFC’s
current total loss absorbing capacity (TLAC) shortfall was 2.1% of risk weighted
assets or $29bn ($43bn including its internal buffer), an $8bn QoQ improvement.
That said, Mr Blinde assured investors that WFC will continue to focus on deposit
growth (66% of total funding) even as its long-term debt needs continue. WFC is
compliant with the liquidity coverage ratio (LCR).
• Potential changes to annual stress test process viewed as positive. Mr. Blinde
noted that potential changes to the annual stress test process, as proposed by Gov.
Tarullo in Sept., is a “real” positive, specifically as it reduces any variance between
how the stressed risk weighted asset balance is calculated. This is likely positive for
the majority of investors polled (31%) who think capital return is the biggest
catalyst for the stock and the (70%) who see the dividend payout growing towards
the 40-50% range long-term (currently 37%).
Chart 49: What do you think is the biggest catalyst for WFC shares over the next 12-24 months?
35%
30%
25%
20%
15%
10%
5%
0%
21%
24%
Better clarity Delivering clean
around the full and consistent
impact of the sales earnings results
practices issue close to or better
than current
consensus
14%
Achieving solid
revenue growth
regardless of the
rate environment
10%
Renewed focus on
expense
management to
drive the efficiency
ratio lower
31%
Accelerating
capital return, with
focus on the
dividend
Source: BofA Merrill Lynch Global Research
Chart 50: As a result, what do you think WFC's long-term dividend payout ratio will be?
40%
35%
30%
25%
20%
15%
10%
5%
0%
16%
Near the current level
of 37%
35% 35%
14%
40-45% 45-50% >50%
Source: BofA Merrill Lynch Global Research
• Note: WFC is scheduled to report October customer activity in Retail Banking on
Thur, Nov. 17th at 9am ET.
Zions Bancorporation (ZION), C-3-7, Underperform
• Sentiment post-election appears constructive on growth prospects. Consistent
with other bank management teams speaking at this year’s conference, CFO Paul
Burdiss noted that small businesses have been reluctant to invest given the
2016 Future of Financials Conference | 17 November 2016 33
uncertain macro backdrop. That said, following the results of the election, and
assuming the new administration can create fiscal stimulus, management sounded
optimistic around growth prospects in C&I (10% ex-energy YoY), owner-occupied,
etc.
• Energy portfolio performing in-line with expectations. Management reaffirmed
the >8% allowance on its energy portfolio ($2.3mn or 5% of total loans) remains
sufficient to cover future losses. However, continued stress in its oilfield services
portfolio (26% of portfolio) remains the primary reason behind ZION’s cautious
view. This was consistent with the 60% of the audience polled whose ownership in
the stock is modestly influenced by this portfolio. That said, until supply/demand
fundamentals improve or activity picks up, material reserve release is unlikely.
Chart 51: How much does credit quality in ZION’s energy portfolio influence your decision on owning
the stock?
70%
60%
60%
50%
40%
30%
27%
20%
13%
10%
0%
Still a material factor in my
investment decision
A modest factor in my
investment decision
No longer a factor in my
investment decision
Source: BofA Merrill Lynch Global Research
• Steepening yield curve a modest benefit, though short-end matters more.
Despite recent actions that have reduced the bank’s asset sensitivity, ZION remains
the most asset sensitive among US banks. For a 25bp rise in the short-end, ZION
estimates a $30mn incremental benefit to spread income. That said, due to the
variable-rate mismatch between assets/liabilities, a steeper yield curve is expected
to have a marginal impact.
• Potential changes to CCAR viewed as positive for ZION. Mr. Burdiss viewed the
potential change to the annual stress test (CCAR), specifically the static RWA
balance, as net positive for the bank/industry. That said, overall these changes are
immaterial as CCAR remains their capital constraint. Although only 14% of the
audience polled think more aggressive capital return is the most important catalyst
for the stock (top response: 29% for stronger revenue growth), investor bias leaned
higher as it relates to total payout.
34 2016 Future of Financials Conference | 17 November 2016
Chart 52: What do you consider as the single most important catalyst for ZION shares in 2017?
35%
30%
25%
20%
15%
10%
5%
0%
14% 14%
Greater comfort
around potential
energy losses
More aggressive
capital return to
shareholders
29%
Stronger revenue
growth regardless
of what happens
to interest rates
21% 21%
Continued
expense savings
to achieve an
efficiency ratio in
the low 60%s for
FY17
Higher interest
rates
Source: BofA Merrill Lynch Global Research
Chart 53: Compared to this year’s CCAR capital ask which implies a total
payout of ~60%, what level would you like to see ZION’s 2017 CCAR
payout increase to?
Chart 54: ZION expects total expenses in 2016 to come in below
$1.58bn and then slightly increase in 2017. Would you prefer absolute
expenses be flat to down in 2017?
40%
35%
36%
80%
70%
69%
30%
60%
25%
20%
15%
21% 21% 21%
50%
40%
30%
31%
10%
20%
5%
10%
0%
Remain at 60% 70% 80% Greater than
80%
0%
Yes
Indifferent; I’m more focused on
the efficiency target
Source: BofA Merrill Lynch Global Research
Source: BofA Merrill Lynch Global Research
Brokers Top 5 Takeaways
Goldman Sachs (GS), B-1-7, Buy
• GS’ Harvey Schwartz, CFO, and Harit Talwar, Head of Digital Finance presented at
our conference. Overall, Harvey and Harit were optimistic about the consumer
lending opportunity with Marcus as well as the overall outlook for the firm.
• When asked about what would get investors more interested in GS stock, 51% of
the investors responding to the poll voted for a stronger revenue backdrop, while
34% voted for normalizing regulations and ability to return more capital.
2016 Future of Financials Conference | 17 November 2016 35
Chart 55: What would get you more interested in investing in GS stock?
60%
50%
51%
40%
34%
30%
20%
10%
10%
5%
0%
A stronger revenue
backdrop
Normalizing regulations
and ability to return
more capital
Investing to drive
improving returns
Additional expense
reductions
Source: BofA Merrill Lynch Global Research
• Management focused the presentation on Marcus, Goldman’s new consumer
lending effort. This venture has significant potential with an unsecured consumer
loan target market of $850B and Goldman coming to the market with a unique
skillset of technology and risk management, no channel conflicts or bricks and
mortar, a strong balance sheet that can provide loans at a meaningful discount to
peers, and a long history in the financial markets with a strong brand. When fully
ramped up, this unit could produce pre-tax ROA’s of 3-4%, and assuming 9-11%
equity commitments, this could translate into a high teens ROE.
• Given the positive sector/GS stock reaction post the election, management was
asked on what they thought about the future of current regulation and activity
levels. While they said it is too early to tell the impact, a lower corporate tax rate
would benefit GS some, a pro-growth policy could positively impact
confidence/activity levels, and some de-regulation could ease some of the
operational challenges, though much of the regulation was well intended and has
created a stronger industry.
• In terms of the current environment, GS didn’t give an exact update, but said
activity has been healthy and around the election activity was similar to around
Brexit (slow before and very active post). Most other firms also mentioned positive
trends in 4Q, with normal seasonality, but up materially year over year.
Asset Managers Top 5 Takeaways
Invesco (IVZ), C-1-7, Buy
• Presenting from IVZ was Loren Starr, CFO. Overall Loren was optimistic on the
outlook for IVZ to generate above average organic growth given its product mix and
performance, deliver cost savings, and accelerate buybacks, and does not expect a
significant change in the DOL impact from the election.
• When asked what would get investors more excited about investing in IVZ stock, the
majority of respondents said that a consistent above average organic growth rate
would get them most excited (48%), followed by a more favorable market backdrop
(38%), less regulation (10%), and more operating leverage (5%), while nobody said
longer term FX hedged would get them more interested.
36 2016 Future of Financials Conference | 17 November 2016
Chart 56: What would get you more interested in investing in IVZ stock?
60%
50%
48%
40%
38%
30%
20%
10%
0%
Consistent above
average organic
growth
A more favorable
market backdrop
10%
Less regulation for
the industry
5%
More operating
leverage
0%
Longer term FX
hedges
Source: BofA Merrill Lynch Global Research
• IVZ is confident it can achieve its 3-5% organic growth rate driven by three main
pillars. The first being the ongoing search for yield driving fixed income
flows/allocation which IVZ has benefitted from and should continue to benefit given
their strong performance, distribution, and product set. The second being ongoing
“barbelling” by clients which drives flows into passive and alternatives, two
products IVZ has leadership in. Lastly, IVZ sees opportunity in its institutional
channel, particularly in Asia which has had notable momentum.
• Given the run up in rates, IVZ touched upon its fixed income exposure and what
might be at risk of underperformance/outflows. IVZ mentioned roughly $100B of its
AUM or ~13% was in fixed income that didn’t include short duration or floating
rate, a number they feel is relatively small compared to some of its peers.
Additionally, within that $100B a major portion had been underperforming because
of strategic shorter duration, which in a rising rate environment should lead to
outperformance and potentially negate some of the flow headwind.
• Regarding potential changes from the election, while very early, management thinks
that whatever happens to the DOL Fiduciary Rule (delay, modify, etc.), the industry
has already been shifting in a fiduciary direction, and they expect that to continue,
though the pace could vary depending on the eventual outcome. Additionally, IVZ is
relatively well positioned given its diversification among ETF/passive and active
strategies, as well as similar regulations in Europe that it has managed through. In
terms of a lower corporate tax rate, that would not have much impact to IVZ given
its Bermuda domicile.
Eaton Vance (EV), B-3-7, Underperform
• Presenting from EV was Thomas Faust, CEO, Laurie Hylton, CFO, and Dan Cataldo,
Head of IR and Treasurer. Management reported relatively positive F4Q flows,
expects organic growth to hold up well given its mix and performance, and does not
expect a significant change in the DOL impact from the election, but would expect
a significant benefit from a lower US corporate tax rate.
• When asked what would get you more interested in EV’s stock, the majority of
investors were fairly split between better high fee flows and ETMFs taking off
(38%/31% respectively). Investors also thought increased capital return was
2016 Future of Financials Conference | 17 November 2016 37
important (23%) while investors thought more operating leverage was least
important for EV (8%).
Chart 57: What would get you more interested in investing in EV stock?
40%
38%
35%
30%
31%
25%
23%
20%
15%
10%
8%
5%
0%
Stronger high-fee flows
and a favorable fee rate
ETMFs taking off Increased capital return Positive operating
leverage aiding the margin
Source: BofA Merrill Lynch Global Research
• EV disclosed their F4Q AUM which was $336.4B up modestly from $334.4B at the
end of its prior quarter as modest market losses were offset by inflows which were
also disclosed by EV. Flows for C3Q (F4Q) were $4.8B/6% aog or $1.7B/3% aog ex
exposure management flows, roughly in-line with expectations in a fairly
challenging backdrop. EV also commented on their recent acquisition of Calvert
Investments (~$12B AUM, see note) and is excited about the opportunity in ESG
investing. Calvert is a leader in investing in socially responsible companies, a small
but rapidly growing area.
• When asked about the outlook on fixed income performance and flows given the
recent run up in rates as well as the outlook, EV was fairly positive in their outlook
given their positioning and leadership in floating rate which should perform well
and attract flows in a rising rate environment.
• ETMFs continue to be topical for EV given they are the only player in the nontransparent
active ETF business with their NextShares franchise. EV has launched 3
NextShares thus far and Waddell and Reed launched 3 of their own in October,
making 6 total NextShares in the market right now, however they are only available
through Folio and Interactive Brokers. While we continue to view this as not very
significant in the near term and a potential longer term opportunity, with EV signing
on UBS and Envestnet for distribution in 2017, we should see a little more traction
ahead.
• Regarding potential changes from the election, while very early, management thinks
that whatever happens to the DOL Fiduciary Rule (delay, modify, etc.), the industry
has already been shifting in a fiduciary direction, and they expect that to continue,
though the pace could vary depending on the eventual outcome. Additionally, EV has
limited exposure to higher distribution share classes (<20% of sales), so they see a
more limited impact. In terms of a lower corporate tax rate (15-20%), this would
have a meaningful benefit for EV, potentially increasing earnings by 15-20%.
38 2016 Future of Financials Conference | 17 November 2016
Legg Mason (LM), C-1-7, Buy
• Presenting from LM was Joe Sullivan, Chairman & CEO, and Alan Magleby, Head of
IR. Joe was optimistic on the flow outlook for LM given the repositioning over the
past few years, mostly favorable investment performance, and a healthy
institutional pipeline, and does not expect a significant change in the DOL impact
because of the election or a lower corporate tax rate on their cash tax rate.
• When asked what would get you more interested in investing in LM stock, investors
overwhelmingly (82%) replied “strong organic growth, particularly in
equity/alternatives” while the absence of deal noise (12%) and higher
margins/operating leverage (6%) were less interesting for investors. Nobody said
that a stronger balance sheet or more affiliate deals would get them more excited
about LM’s stock.
Chart 58: What would get you more interested in investing in LM stock?
90%
80%
82%
70%
60%
50%
40%
30%
20%
10%
0%
Stronger organic
growth, notably in
equity/alternatives
12%
The absence of deal
noise
6%
Operating leverage and
higher margins
0% 0%
A stronger balance
sheet
More affiliate deals
Source: BofA Merrill Lynch Global Research
• LM was relatively upbeat on the flow outlook, despite some ongoing headwinds for
the industry. Management sees the following drivers offsetting some of the
industry headwinds to position LM to flow better than the industry: strong
investment performance, notable progress with consultants over the last several
years, a healthy institutional pipeline ($8B of unfunded wins/$3B uncalled
committed capital), highest level of search activity in active equity in several years,
large cash balances in Europe (20-50% cash allocation across the continent),
increasing demand for real estate / infrastructure / alts (Clarion, RARE, and
EnTrustPermal), and a diverse / differentiated product/vehicle set.
• Management also mentioned that besides offering well performing products across
strategies, it also wants to be able to deliver to clients in different vehicles,
including ETFs. The firm has been launching some ETF products and also has an
interest in Precidian, which has its non-transparent ETF submission under the
review process.
• Regarding potential changes from the election, while very early, regarding the DOL
fiduciary rule, LM sees it getting delayed and watered down some as the most likely
outcome. However, they mentioned the fiduciary rule was just an accelerant for
trends that were already occurring (i.e. the shift to fee based accounts and away
from brokerages) and whether or not the rule goes through as expected or gets
2016 Future of Financials Conference | 17 November 2016 39
modified will not likely change the outlook. LM feels its strong positioning in global
distribution and product sets bodes well to perform in a new fiduciary world.
• Additionally, a lower potential U.S. corporate tax rate will not change its cash tax
rate which is likely to be 6-7% through 2021 and in the mid-teens through 2025
after that. However, it would impact GAAP EPS and a lower corporate tax rate
would lower the value of LM’s DTA.
AB (AB), B-1-8, Buy
• Presenting from AB was Peter Kraus, Chairman & CEO. Peter expects AB to
generate above average organic growth and hopes to accelerate it given its product
mix and mostly favorable investment performance. In addition, he sees the potential
for new pricing in the industry, and does not expect a significant change in the DOL
impact from the election or a lower corporate tax rate on their tax rate.
• When asked what would get you more interested in AB’s stock, 55% of investors
said they wanted to see consistent positive organic growth, 18% said a better
operating margin, another 18% said diversification from fixed income flows (i.e.
equity and alternative flows), and only 9% of investors wanted to see a simplified
structure and increased float.
Chart 59: What would get you more interested in investing in AB stock?
70%
60%
55%
50%
40%
30%
20%
18% 18%
10%
9%
0%
Consistent positive organic
growth
Operating leverage and an
improving margin
Further diversification from
fixed income flows
A more simplified structure and
increased float
Source: BofA Merrill Lynch Global Research
• AB has seen and expects to continue to see above average organic growth (ex 3Q
which was weighed down by lumpy institutional outflows) given a relatively new
and attractive product set, strong investment performance (notable improvement in
recent years), better traction with the consultant community, and opportunities to
gain in the retail and private wealth channels.
• Regarding potential changes post the election, AB had a similar tone to other asset
managers on DOL, in the sense that it likely gets delayed/modestly modified, but
regardless of what happens, asset managers and distributors need to accept that
the industry is living in a new fiduciary world with minimized (potentially no)
conflicts of interest which ultimately is a good thing for end clients. A lower
potential corporate tax rate would not likely benefit AB given its tax structure/low
current tax rate.
40 2016 Future of Financials Conference | 17 November 2016
• Another topic which AB elaborated on was fees/pricing particularly in the US retail
market. Peter Kraus commented that there is a very strong philosophical argument
for the regulators to approve new fee structures which would allow investors to pay
a low beta fee and a higher performance fee for alpha generated (while it exists in
Europe, a similar structure is not available in the U.S.). While some in the industry
may not be fans to adapt such a structure, given challenging cost structure changes,
he thinks the product could be much more competitive relative to passive products.
Alternative Asset Manager Top Takeaways
Ares Management (ARES), C-2-7, Neutral
• Michael Arougheti, Co-founder and President, presented for Ares. Overall, Mr.
Arougheti was positive on the firm’s growth prospects, given demand for their
products across the platform by institutional investors. In addition, given recent
fundraising and fees on the horizon, the outlook for FRE and DE is attractive.
• When asked “What would get you more interested in investing in ARES stock?” the
most common response was a higher float and reduced tax complexity (64%),
followed by more diversification in the business model (21%), and confidence in an
attractive credit return outlook (14%). Investors were less concerned over the
visibility on the distribution (0%).
Chart 60: What would get you more interested in investing in ARES stock?
70%
64%
60%
50%
40%
30%
20%
14%
21%
10%
0%
A higher float and
reduced tax complexity
Confidence in an
attractive credit return
outlook
More diversification in
the business model
0%
Increased visibility on
the distribution
Source: BofA Merrill Lynch Global Research
• If comprehensive tax reform includes an elimination of carried interest tax,
potentially moving to an ordinary income rate, it could have some impact to after
tax unitholder returns, but 80-90% of revenue comes from management fees and
much of the income already faces a corporate tax rate. It could make it more
attractive to shift to a C-corp. A change to the tax deductibility of interest expense
could have more far-reaching changes to the business, and to U.S.
• Ares will always look to do tuck-in acquisitions, and has been doing almost one a
year. The pipeline of M&A opportunities continues to grow for ARES, given
demographics of principles with founders aging, and the environment becoming
harder to compete for small managers.
The Blackstone Group (BX), C-2-8, Neutral
• Jonathan Gray, Global Head of Real Estate, presented for Blackstone. Overall, Mr.
Gray was positive on the outlook for the U.S., with new pro-growth fiscal policies
2016 Future of Financials Conference | 17 November 2016 41
likely. Mr. Gray also thinks that concerns over the commercial real estate market
may be overdone.
• When asked “What would get you more interested in investing in BX stock?” the
most common response was a market pullback (30%), followed by comfort on the
direction of the real estate market (25%), rising returns and visibility on
distributions (21%), and a more simplified structure (20%), while fundraising and
margin improvement were less important (4%).
Chart 61: What would get you more interested in investing in BX stock?
35%
30%
25%
20%
21%
25%
30%
20%
15%
10%
5%
4%
0%
Rising
markets/returns and
visibility on DE and
distributions
Improving
FRE/margins
following strong
fundraising
Comfort on the
direction of the real
estate market &
hedge funds
A market pullback for
better
deployment/returns
A more simplified
corporate/tax
structure
Source: BofA Merrill Lynch Global Research
• Mr. Gray thinks the economic narrative has changed for the U.S., from low growth
and low interest rates to a more pro-growth outlook. There will likely be lower
taxes, less regulation, and more fiscal spending. A potential offset is that deficits
from government spending and tariffs could create inflation. Even so, management
was cautiously optimistic on growth.
• For Europe, Brexit was the big news and Mr. Gray expects the next couple of years
will be somewhat challenging for the U.K, though the bigger question is core
Europe, where rates and inflation are likely to be lower for longer. In Asia, China is
decelerating, particularly for manufacturing, infrastructure, and real estate which
will likely continue though don’t expect a hard landing in China. A trade war
between the U.S. and China could be a risk to the downside for China. In India, BX
sees accelerating economic growth and falling inflation and interest rates, along
with a lot of demand for office space in India.
• Mr. Gray does not believe we are in the early stages of the real estate cycle, but
concern over a bubble in commercial real estate in the U.S. is probably overdone for
a couple of reasons. 1) Supply and demand are reasonable, given modest growth in
supply and an economy that is growing. 2) Debt levels aren’t out of hand like in
‘06/’07. 3) Cap rates are low at around 5%, compared to ‘07 when 10yr treasuries
were at the same level. Overall, you aren’t going to see the same returns as in the
past, but looking at past periods where rates and growth increased, commercial real
estate did fine.
• In terms of growth, Mr. Gray is optimistic on the outlook. Half of the areas BX
invests in today didn’t exist at the time of the IPO, and that culture of innovation,
growth, and investing for attractive returns is alive and well.
42 2016 Future of Financials Conference | 17 November 2016
Carlyle Group (CG), C-2-8, Neutral
• Glenn Youngkin, President and Chief Operating Officer, presented for CG. Overall,
Mr. Youngkin is positive on the economic/market backdrop and on CG’s ability to
generate cash carry relatively consistently over time given the firm’s diversity of
funds.
• When asked “What would get you more interested in investing in CG stock?” most
investors would like to see an increased float and reduced complexity (40%),
followed closely by rising fee related earnings (30%). Investors are also interested
in seeing increased visibility on the distribution (15%) and increased contribution
from RA and GMS segments (15%).
Chart 62: What would get you more interested in investing in CG stock?
45%
40%
40%
35%
30%
30%
25%
20%
15%
15% 15%
10%
5%
0%
Rising fee related
earnings
Increased visibility on
the distribution
Increased contribution
from RA and GMS
segments
Increased float and
reduced complexity
Source: BofA Merrill Lynch Global Research
• If comprehensive tax reform includes an elimination of carried interest tax,
potentially moving to an ordinary income rate, it could have some impact to after
tax unitholder returns. However, Glenn thinks it is very early to speculate on any
changes and expects tax changes to likely be comprehensive.
• Glenn sees the potential for a strong push in infrastructure, along with tax change,
defense spending, and the border will get a lot of attention along with international
trade. Three main conclusions: 1) First time in a long time that there is a universal
pro-business outlook across congress and the presidential office; 2) Unclear today
what is going to be enacted, there is optimism but uncertainty; and 3) CG is not
going to make meaningful changes one way or another based on speculation. CG
launched its latest infrastructure fund in September, and the election results are
more wind in the sails.
• CG has multiple funds, each with its own economic engine. That makes the cash
flow profile more stable than other firms. Management believes that a discounted
valuation in the stock is driven more by fear of a recession vs. lower FRE. Glenn
thinks that outlook has changed with the election. The economy may be going into
extra innings now.
• The investment environment hasn’t changed materially in last few weeks - it
continues to be tough. Global growth will continue to be muted, and despite the
2016 Future of Financials Conference | 17 November 2016 43
move in the ten year treasury rate, interest rates remain low and the combination
of those things results in high prices.
KKR & Co (KKR), C-1-8, Buy
• Bill Janetschek, Chief Financial Officer, presented for KKR. Overall, Mr. Janetschek
believes that KKR’s balance sheet gives them the ability to take advantage of
market dislocations, sees opportunities to grow in certain areas (e.g. infrastructure
and real estate), and noted that they don’t need to grow the headcount to bring on
more assets.
• When asked “What would get you more interested in investing in KKR stock?” the
most common response was a market pullback for better deployment/returns
(50%). Respondents also felt that attractive returns and book value growth (33%),
and stronger fee related earnings (17%) were also important. Less important for
investors was improving energy markets and overall market confidence (0%).
Chart 63: What would get you more interested in investing in KKR stock?
60%
50%
50%
40%
33%
30%
20%
17%
10%
0%
Stronger fee related
earnings
Attractive returns and
book value growth
0%
Improving energy
markets and overall
market confidence
A market pullback for
better
deployment/returns
Source: BofA Merrill Lynch Global Research
• Overall, KKR likes the publicly traded partnership structure today. If comprehensive
tax reform includes an elimination of carried interest tax, the income would still get
passed through in that scenario which avoids a second level of taxation, so it still
may not be attractive to change the structure. But, if the corporate rate is also
lowered significantly, it could potentially make sense to go to a c-corp.
• Bill sees infrastructure as a real growth area for KKR. 7-8 years ago it was difficult
to raise an infrastructure fund as the asset class didn’t do very well in the financial
crisis; today there is more interest. KKR’s first infrastructure fund was around $1B
and the second one was around $3B. Infrastructure needs are tremendous longterm,
with $1-2 trillion capital needed for projects over the next decade, and
infrastructure spend is one area of consistency across the two major parties.
• Management thinks that investors understand the reason for the change in the
distribution policy. KKR likes to pay out the stable dividend and redeploy capital into
the balance sheet. As part of the year-end process, KKR will likely review the level
of the fixed distribution and determine whether it should be changed. KKR would
like to have around 40% of the balance sheet invested in private equity over time.
• KKR will manage concentration risk, and it is unlikely that the firm will make
another investment as big as First Data again. The biggest advantage to having a
44 2016 Future of Financials Conference | 17 November 2016
large balance sheet is the ability to take advantage of market dislocation, along
with high margins.
• The firm grew at a healthy rate from 2004-2014, and with around 1,200 people
now there doesn’t need to be much growth in headcount for the time being, the
infrastructure is in place. Marshall Wace AUM has grown significantly since they did
the deal, due in part to advantages from combining the two firms. Real estate is an
area where KKR is small and could see more growth.
Specialty Finance
American Express Company (AXP), B-2-7, Neutral
• Presenting from American Express Company was Mr. Jeff Campbell, Chief Financial
Officer. Overall we thought AXP presented a fairly upbeat outlook on billings, loan
and revenue growth. AXP did express caution on near-term Discount rate pressures
and FX headwinds.
• When asked what would be a key factor to increase / initiate a position in AXP, 53%
of the audience said they would like to see better visibility in AXP’s core growth.
AXP acknowledged the sale of the Costco portfolio to Citi has added complexity to
reporting results and has provided additional disclosures on underlying trends in the
quarterly results. AXP also said that accelerating revenue growth is a key area of
focus for management.
Chart 64: What would be a key factor for you to increase / initiate a position in American Express?
60%
53%
40%
29%
20%
7%
13%
0%
Accelerating global
growth
Renewed visibility in
growth in AXP’s core
business
Solid execution of cost
reduction initiatives
More aggressive
capital management
Source: BofA Merrill Lynch Global Research
• AXP was a little surprised that more investors did not view its focus on loan growth
as an appropriate strategy to increase wallet share amongst the revolving segment.
Instead a plurality of investors viewed AXP’s strategy as appropriate in light of the
portfolio sale but risky due to the duration of the credit cycle. While investors were
concerned about the duration of the credit cycle, AXP emphasized its low loss rates
and premium customer base as well as the loss of the Costco portfolio to argue
that AXP's credit profile will not materially change from its current strategy to grow
revolving balances through revolving credit card customers.
Chart 65: How would you describe American Express’ strategy to expand exposure to credit?
60%
40%
20%
0%
8% 8%
Timely opportunity to
grow earnings while
credit costs are low
Appropriate strategy to
increase wallet share
amongst revolving
segment
46%
Appropriate in light of
the Costco portfolio
sale but risky due to
duration of credit cycle
38%
Risky due to extended
duration of the credit
cycle
Source: BofA Merrill Lynch Global Research
2016 Future of Financials Conference | 17 November 2016 45
• On a more cautious note, AXP said that Discount rate pressures are likely to remain
elevated near-term as EU merchants renegotiate contracts post-interchange rules
and the OptBlue program gains additional scale in the US. Strengthening in the
US$ will also lead to FX headwinds that will likely impact NT results, particularly
from countries like Mexico where AXP has a large business.
Conference Panels Top Takeaways
Contact your BofA sales representative for additional information.
Blockchain: Potential Transformation of Financial Markets
With Blockchain one of the most talked about potential disruption in financial services
and 71% polled noting that blockchain is a significant opportunity for financial service
firms, we thought it was timely to host a panel on the potential impact of Blockchain on
financial markets that included Co-founder & COO of R3 Todd McDonald and CEO of
Axoni Greg Schvey.
• Blockchain could lead to $60-80bn of annual potential cost savings for
financial institutions. While it is still early days to know what the full impact of
potential cost savings that blockchain technology could bring to financial
institutions, the panelists believe that total savings could reach $60-80bn.
• Successful implementation of equity swaps. An area where Blockchain has shown
to be successfully implemented is around equity swaps. Axoni had worked with
multiple financial institutions to handle data reconciliation around its equity swaps
record which drove efficiencies.
• Trade finance viewed as most likely for success. When asked which part of the
financial industry will be the first to successfully utilize blockchain technology, 38%
of those polled cited trade finance/transaction banking as the most likely, with 28%
citing capital markets & securities servicing.
Chart 66: Which part of the financial industry do you believe will be the first to successfully utilize
blockchain technology?
40%
38%
30%
20%
14%
28%
21%
10%
0%
Wholesale payments
(cross-border F/X,
correspondent banking)
Trade
fianance/transaction
banking (receivables
finance, commodities
trade finance)
Capital markets &
securities servicing
(securities settlement,
asset documentation)
Retail payments
(parallel currency
systems, remittances)
Source: BofA Merrill Lynch Global Research
• Implementation could be earlier than expected. While many investors are
skeptical that blockchain will be broadly adopted in the near term, with none of the
audience expecting it to be widely adopted within 12-24 months, the panelists were
more optimistic and believes that there could be upside surprise in terms of the
timing as proof points and implementation could happen more quickly than
expected.
46 2016 Future of Financials Conference | 17 November 2016
Chart 67: How knowledgeable are you with blockchain technology?
60%
50%
50%
40%
34%
30%
20%
16%
10%
0%
Very knowledgeable Moderately knowledgeable Not at all knowledgeable
Source: BofA Merrill Lynch Global Research
Chart 68: After this panel, how do you feel about the applicability of
blockchain technology in financial services?
Chart 69: How long do you think it will take for financial sevices
industries to broadly adapt blockchain technology?
80%
70%
60%
50%
40%
30%
20%
10%
0%
71%
14% 14%
A significant A modest opportunity
opportunity for for financial service
financial service firms firms
Overhyped
technology
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
40%
36%
24%
0%
12-24 months 3-5 years 5+ years 10+ years
Source: BofA Merrill Lynch Global Research
Source: BofA Merrill Lynch Global Research
The Future of Clearing: Understanding the Options
• Guest speakers in this panel included Brian Ruane (CEO, Broker Dealer Services,
BNY Mellon), Lee Betsill (Chief Risk Officer, CME Group), Michael C. Bodson
(President & CEO, DTCC), John Horkan (Head of North America and Global COO,
Rates & FX, LCH, LSE Group) and Marcus Denne (Director, Global Clearing, BofA
Merrill Lynch).
• With the start of the Uncleared Margin Rule (UMR) on September 1st, we asked
investors what was the primary challenge related to the new clearing rules. Most
investors (95%) thought the rising cost, particularly in the amount of collateral
required (50%) and the complexity around infrastructure and different country rules
(45%) were the main issues.
2016 Future of Financials Conference | 17 November 2016 47
Chart 70: What is the primary challenge related to the new clearing rules?
60%
50%
40%
50%
45%
30%
20%
10%
0%
The rising cost,
particularly in the
amount of collateral
required
The complexity around
infrastructure and
different country rules
2% 2%
The lack of dealers
offering the capabilities
given their challenges
None
Source: BofA Merrill Lynch Global Research
• Panel participants believe that the election/shift in regulatory outlook might lead to
a slowdown of products being added to the clearing mandate, with FX being the
biggest unknown.
• Going forward, firms are tackling U.S. vs Europe collateral harmonization/transfer
(DTCC and Euroclear are working on a collateral transfer initiative that is expected
to launch in 1Q17), collateral management through firms including BNY Mellon, and
Cleared repo could also be on the horizon (CME has filed an application with the
SEC but no timeline given).
• We asked investors what the biggest potential risks are in the clearing mandate and
CCPs, and 33% of voting investors thought collateral concentration issues with
cybersecurity (27%) coming in 2nd.
Chart 71: What is the biggest potential risk in the clearing mandate and CCPs?
35%
33%
30%
25%
27%
20%
15%
17%
17%
10%
7%
5%
0%
Much more
collateral will be
needed in stress
times
There will be
collateral
concentration
issues
CCP risk models
fail
Dealer/FCMs fail
Cybersecurity
Source: BofA Merrill Lynch Global Research
48 2016 Future of Financials Conference | 17 November 2016
Equity Market Structure: Simplifying the Complex
• Guest speakers in this panel included Anthony Barchetto (EVP, Head of Corporate
Development, BATS Global Markets, Inc.), Jamil Nazarali (Head of Execution
Services, Citadel Securities Inc.), Eric Stockland (Chief Strategy Officer, IEX Corp.)
and Pankil Patel (Managing Director, Electronic Sales, BofA Merrill Lynch).
• Panel members had a spirited debate regarding the current market structure pros
and cons, rebates, off-exchange trading, latency, market maker obligations, and the
future of regulation post the election.
• We asked investors what they thought of the current state of the equity market
structure, and 74% thought that the market needs revamping. 32% believe that
there was a problem with the depth of liquidity and 23% thought there were
misaligned incentives.
Chart 72: What is your view of the current state of the equity market structure?
35%
30%
25%
27%
32%
23%
20%
15%
14%
10%
5%
0%
The market
structure is overall
adequate
5%
The market
structure needs
improvement –
notably in
transparency
The market
structure needs
improvement –
notably in liquidity
of size
The market
structure needs
improvement –
notably in
misaligned
incentives
The market
structure needs a
full revamp
Source: BofA Merrill Lynch Global Research
• Given the announcement that SEC Chairwoman White will leave at the end of
President Obama’s term, this will likely lead to some regulatory uncertainty and lack
of activity given not enough commissioners to make forward progress. In addition,
the new Chair will likely be focused on less regulation and one panel member
thought Reg NMS could come under review.
Life after DOL: Evolving Beyond the Fiduciary Rule
• We hosted industry experts for a panel on the Department of Labor’s (DOL)
fiduciary rule, which is set to go into effect in April 2017. Panel participants
included Michael Hadley (Partner at Davis & Harman LLP), Lisa Bleier (Associate
General Counsel at SIFMA), and Kevin Crain (Head of Workplace Financial Solutions
at Bank of America Merrill Lynch).
• Given potential changes for the brokerage industry, we asked investors “Will the
DOL’s fiduciary rule cause meaningful changes to the brokerage industry?”. Most
investors believe that the rule will cause a number of significant changes to the
brokerage industry (83%), including significant pressure on commission revenues, a
shift to advisory and fee based accounts, and assets in motion with some to robo
advisor and RIA platforms.
2016 Future of Financials Conference | 17 November 2016 49
Chart 73: Will the DOL’s fiduciary rule cause meaningful changes to the brokerage industry?
90%
83%
80%
70%
60%
50%
40%
30%
20%
10%
0%
3%
Yes, significant
pressure on
commission
revenues
7%
Yes, a shift to
advisory and fee
based accounts
0%
Yes, assets in
motion with some
to robo advisor
and RIA platforms
All of the above
7%
No significant
impact
Source: BofA Merrill Lynch Global Research
• We also asked about changes to the asset management industry, positing “Will the
DOL’s fiduciary rule cause meaningful changes to the asset management industry?”
Investors again expect multiple changes (91%), including an accelerated shift from
active to passive, further pricing pressure, and higher cost of distribution and
margin pressure. No respondents expect there to be no significant impact to the
asset management industry.
Chart 74: Will the DOL’s fiduciary rule cause meaningful changes to the asset management industry?
100%
90%
91%
80%
70%
60%
50%
40%
30%
20%
10%
0%
0%
Yes, an
accelerated shift
from active to
passive
4% 4%
Yes, further Yes, higher cost of
pricing pressure distribution and
margin pressure
All of the above
0%
No significant
impact
Source: BofA Merrill Lynch Global Research
• The panel noted that President Elect Trump did not address the Fiduciary Rule
during his campaign, so his view on the rule is unknown, but Republicans have
largely been against it. There is some precedence on what we could expect
President Elect Trump to do with the fiduciary rule. President Bush had
implemented an investment advice regulation that President Obama delayed
several times until it was finally withdrawn. The view from the panel was that the
most likely action over the next several months is that President Elect Trump delays
the rule, though to repeal or change it would take work and new regulatory
50 2016 Future of Financials Conference | 17 November 2016
proposals. Mr. Trump and congress could also ultimately defer to the SEC to act on
a Fiduciary Rule.
• The biggest issue from the brokerage industry is the contract requirement under
the BIC. The issue with the contract is increased liability, given the contract makes
it easier to litigate. This would likely be the primary area for modifications. Even
though many firms have made announcements regarding changes they expect to
make, most have not figured out all of the underlying steps yet given that it is so
complicated and impacts large parts of the business.
• The industry will have to move forward on implementing the rule, given the April
2017 implementation date, but firms may not put as much effort into certain areas
that need to be final by January 2018. In addition, prior to Mr. Trump starting, the
transition team could make an announcement about the rule. However, even at that
stage firms would have to determine whether or not to act on the announcement.
• While the most likely scenario is a delay in the rule, with the potential for some
modifications to ease some of the burdens, most see the trend towards a fiduciary
rule already well in motion for the industry.
The Future of Tech-Based Lending
• James Paris, Executive Vice President at Avant, Ashish Jain, Senior Vice President at
SoFi and John Schleck, Senior Vice President at Bank of America discussed key
trends and recent developments in Tech-Based lending.
• Audience members and panelists generally agreed that improved customer service,
full spectrum lending, and better pricing all are contributing to the growth in techbased
lending. SoFi did caution that better pricing is not usually the primary driver
as banks can usually offer cheaper pricing.
Chart 75: What is the biggest driver of growth in tech-based lending
40%
30%
27%
27%
33%
20%
10%
13%
0%
Improved service
model
Full spectrum lending Better pricing –
cheaper
All the above
Source: BofA Merrill Lynch Global Research
• Acquisition models differ by company but being efficient at customer acquisition is
key for a successful tech-based lender. SoFi estimated that its customer acquisition
cost is 1/5 th that of a bank which enables it to effectively compete and partner with
banks. Panelists highlighted the use of data analytics to more efficiently target
potential customers via direct mail, digital ads or through affiliate programs.
• Audience members were split on the main risks to investing in tech-based
companies with limited sustainable competitive advantage, untested credit models
and fragile all highlighted as key risks. Somewhat surprising given events earlier
this year, regulatory concerns were not high on the list of investor concerns.
2016 Future of Financials Conference | 17 November 2016 51
Chart 76: Biggest risks to investing in a tech-based lending companies
40%
30%
29%
32% 32%
20%
10%
7%
0%
No sustainable
competitive advantage
Untested credit
model/risk
management
Fragile funding model
Uncertain regulatory
backdrop
Source: BofA Merrill Lynch Global Research
• Panelists agreed that flexible funding models that utilized both balance sheet
lending and distribution of loans were important for a tech based lender.
Additionally, panelists said that risk management is top of mind and tech based
lenders are increasingly applying refined analytics that rely on credit variables
directly from credit bureaus into their lending and portfolio management decisions
The Future of Payments: The Need for Speed
• Jonathan Lear, President – North America, Earthport and Bruce Parker, Founder of
Modopayments spoke on The Future of Payments panel. In a wide ranging
discussion, the panelists discussed the B2B opportunity, the importance of
partnering with incumbents and the need to maintain Safety standards.
• Audience members identified the lack of a clear value proposition for new players
relative to incumbents and concerns about Safety and Security as the largest risks
to investing in new Fin Tech payments companies.
Chart 77: What is the primary risk to investing in new entrants within the payments landscape?
40%
20%
0%
38%
Unclear value
proposition of new
entrants relative to
incumbents
Source: BofA Merrill Lynch Global Research
23%
Rapid innovation that
erodes value
proposition
38%
Concerns around
safety & security
0%
Intense regulatory
friction
• Panelists generally thought the best way for a new Fin Tech companies to succeed
was by partnering with incumbents. This was consistent with the views of audience
members, a majority of whom thought the payments industry would continue to be
controlled by incumbent institutions partnering with innovative tech companies.
52 2016 Future of Financials Conference | 17 November 2016
Chart 78: What do you believe will be the structure of the payments industry in 5-7 years?
80%
60%
59%
40%
28%
20%
0%
Dominated by large
incumbent payment
brands
Controlled by large
incumbent institutions
enable by innovative
tech companies
10%
Controlled by savvy
tech companies
operating through
traditional payments
providers
3%
Dominated by dynamic
eco-system of savvy
tech companies
Source: BofA Merrill Lynch Global Research
• Panelists highlighted that while recent innovations in faster payment transfers have
been focused on P2P applications, the B2B opportunity is 7-10x larger. That said,
panelists thought, based on experience in the UK, the cost of faster payments
would likely have to be borne by the existing payment infrastructure as consumers
have not been willing to pay for faster transfers. Additionally, panelists pointed out
that in countries where faster payments have been implemented, it has mostly been
a mandate by regulations suggesting the government has an important role to play.
• Panelists highlighted Security and Compliance as being essential for a new Fin Tech
company to be admitted as part of the industry ecosystem. Incumbent payment
companies will only partner with a new FinTech company that can meet the safety
and regulatory standards that the incumbent is required to meet.
Robo Advisors: Shedding Light on the Potential Opportunity
• Guest speakers in this panel included Eli Broverman (Co-Founder and President of
Betterment), Randy Sternke (Vice President, Business Development at Alkanza), and
Vaughn Bowman (Director, Managed Solutions Channel Management at BofAML).
Each firm discussed the unique aspects of their individual business models and
where they see the robo industry headed in the future.
• Broverman brought up several key points on how the independent robo advisor
model came about and why it will continue to grow in the future. He believes that
the main drivers include a lack of quality advice for investors with few assets,
investors’ beliefs that financial institutions are not aligned with their interests or
transparent, and the fact that people want financial services to work as well as the
other technology in their lives. Broverman believes that the biggest opportunity
going forward is in the mass affluent segment and the 401K space.
• Alkanza is focused on providing robo capabilities to financial advisory firms through
partnerships, rather than directly to consumers, with a focus on the platform as well
as portfolio construction.
• We surveyed the audience to gauge their views on the potential size of the robo
advisor market and the most common answer was that assets will surpass $1T,
followed by assets will hit $500B and then level out.
2016 Future of Financials Conference | 17 November 2016 53
Chart 79: How significant do you think robo advisor platforms will become over the next 3-5 years?
60%
50%
51%
40%
35%
30%
20%
14%
10%
0%
Assets will surpass $1T
Assets will hit $500B then level
out
Assets will hit $500B then
decline
Source: BofA Merrill Lynch Global Research
• Based on our polling questions, investors believe that the main beneficiaries of the
robo advisor trend will be the passive asset managers (40%), followed by the large
broker firms adding robo technology (28%) and the online brokers that have
scalable robo platforms (21%). They also believe that the main driver of success for
robo advisors will be a low and transparent cost structure (44%), followed by an
efficient technology and user interface (25%).
Chart 80: Which firms will benefit the most from the robo advisor trend?
45%
40%
40%
35%
30%
28%
25%
20%
21%
15%
10%
5%
0%
Passive asset
managers
Large broker firms
adopting robo
technology
Online broker robo
platforms that
have scale
9%
Independent B2C
robo advisor firms
2%
Robo advisor firms
that have a B2B
model
Source: BofA Merrill Lynch Global Research
54 2016 Future of Financials Conference | 17 November 2016
Chart 81: What do you expect to be the main driver of success for robo advisors?
50%
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
44%
A low and
transparent cost
structure
25%
11% 11%
An efficient Advanced portfolio
technology and construction that
interface platform outperforms
Department of
Labor fiduciary
rule
8%
Access to a
human in volatile
markets
Source: BofA Merrill Lynch Global Research
• Finally, all of the panel participants believe that the DOL Fiduciary Rule will not be
repealed by the new administration, although it may be delayed. In the end, this
should benefit robo advisors, as most of the models have low fee structures and
limited conflicts of interest.
State of the Multifamily Market: Cooling or Collapsing?
We hosted a panel to discuss the state and the outlook for the multifamily market
following a year which has witnessed increased investor anxiety around multifamily loan
growth and heightened scrutiny by banking regulators of multifamily loan portfolios,
particularly at banks with a high concentration of multifamily loans. Our panelists
included John Jardine, Co-CEO of Ares Commercial Real Estate Corp, David
Brickman, Executive Vice President and the Head of Multifamily business at
Freddie Mac and Alan Fishman, Chairman of the Board at commercial real estate
investment trust Ladder Capital.
• Multifamily on solid footing: The panelists view the multifamily market as having
a solid foundation with most of the risk lying at the high end, class A properties in
particular markets (New York, San Francisco). Even here, the panelists agreed that
the issues at the high end segment were more likely to manifest themselves in the
form of decelerating growth in rents (and increased incentives by landlords) as
opposed to serious credit issues. Investors echoed this sentiment during a live
audience poll with 60% of the investors seeing issues in the multifamily market
limited to certain regions and at certain rental price points.
2016 Future of Financials Conference | 17 November 2016 55
Chart 82: How do you view fundamentals for multifamily lending in 2017?
70%
60%
50%
40%
30%
20%
10%
0%
10%
Softening
fundamentals
should lead to
slower financing
activity next year
0%
Softening
fundamentals
should lead to
worsening credit
metrics
23%
Softening
fundamentals
should lead to
slower financing
activing and
worsening credit
metrics
60%
Some concern, but
only in certain
regions and at
certain rental price
points
7%
No concern
Source: BofA Merrill Lynch Global Research
• Future demand in multifamily promising: Looking forward, the panelists see
healthy demand for multifamily housing given a preference among millennials to
live in urban areas versus the suburbs. Moreover, the panelists noted that increasing
debt burden tied to student loans is likely to make home ownership out of reach for
several first time home buyers. Furthermore, it was noted that the US needs 1.5mn
new housing units each year and the present level of construction activity was not
keeping pace with this when looking at it on a national level.
• Foreign capital part of the equation: Some of the panelists are seeing a
significant flow of foreign capital into the multifamily market with Mr. Brickman
surmising that data around inflow of foreign capital into the commercial real estate
market was likely understated given that significant amount of inflows have come
indirectly through investment vehicles like private equity.
• Risk retention rules modest impact: Our multifamily panelists viewed the risk
retention rule for CMBS as having a modest impact given the large role played by
the GSEs in lending to the multifamily space. It was also noted that while the rule
may dampen private securitization activity, less competition from the CMBS
markets would be a positive for balance sheet lenders.
• Impact from rising rates may not be all news: While the panel acknowledged that
the rise in interest rates will likely push cap rates higher, an increase driven by a
more favorable growth outlook may not be as bad. This is because a stronger
economy should theoretically lead to a better backdrop for jobs and wage growth,
thereby providing landlords some leeway to raise rents.
The Future of Big Data in Financials
We hosted a panel to discuss how big data is impacting the financial services industry.
The panel discussed key big data buzzwords including machine learning, data scientist,
structured data and unstructured data. They panel also reviewed how different firms are
adapting big data solutions to solve specific company issues. Our panelists included
Jessica Donohue, the Chief Innovation Officer for State Street and the head of
advisory and information solutions for State Street Global Exchange, Greg
Michaelson, head of data science practice at Data Robot, and Sandeep Saini, head
56 2016 Future of Financials Conference | 17 November 2016
of global markets sales, research, and capital markets technology at Bank of
America Merrill Lynch.
• How big data can influence the future: The panel confirmed the notion that there
are many different definitions for big data, but everyone seemed to agree almost all
financial firms are seeking effective ways to implement big data techniques to 1)
generate alpha, 2) manage risk 3) manage expenses.
• Companies polled are a long way from benefitting big data: 96% of the
audience polled said their firm is either somewhat effective or not at all effective at
using big data. Some of the main challenges the panelists highlighted during our
discussion were merging multiple legacy data systems and finding attractive talent
with both data science and business experience.
Chart 83: How effective is your firm at using big data?
70%
60%
57%
50%
40%
39%
30%
20%
10%
4%
0%
Fully integrated with the
investment and process and
operations
Somewhat effective
Not at all effective
Source: BofA Merrill Lynch Global Research
• The panel discussed three roles needed to solve data science problems: 1)
someone who has sway to make change and implement solutions 2) business
champion, someone to discuss solutions with technical employees and to share
knowledge on key issues such as regulation 3) technically savvy employees.
• Implementation advice: The panel provided advice for firms that have yet to utilize
big data to attempt to solve problems facing their companies. The advice included
seeking problems that could be solved using data science and focusing on small
wins with the data present.
2016 Future of Financials Conference | 17 November 2016 57
Chart 84: Now that we’ve defined “big data”, how far do you think financial institutions are at
embracing the use of big data today?
60%
50%
40%
30%
20%
10%
0%
5%
Fully committed to
using big data to
generate
investment alpha /
revenue growth
19% 19%
Fully committed to
using big data to
improve cost or
process efficiency,
risk management,
regulatory
compliance
Fully committed to
using big data
across the
organization
49%
Somewhat
committed
8%
Not at all
committed
Source: BofA Merrill Lynch Global Research
Chart 85: After this conversation, have you changed your mind on how financial institutions are
adopting big data in their businesses?
60%
55%
50%
40%
30%
20%
23% 23%
10%
0%
Financial institutions are more
committed to allocating
resources to big data than I
thought
Financial institutions are less
committed to allocating
resources to big data than I
thought
No change
Source: BofA Merrill Lynch Global Research
The Future of Financials M&A and Regulation
We hosted a panel to discuss the state and outlook of M&A and regulation. Given the
results of the US election and the potential for easing of regulations, the panel
discussed a timely topic on the mind of investors. Our panelists included Rodgin Cohen,
Senior Chairman of Sullivan & Cromwell; Richard Kim, partner at Wachtell, Lipton,
Rosen & Katz, and Ed Hill, Senior Vice President, Government Affairs, Bank of
America Corporation.
• Regulation is about tone: Our panelists agreed that the scope and strength of
regulation comes from the tone and attitude of regulators rather than from
legislation. They noted that an attempt to repeal legislation such as Dodd-Frank
would be misplaced as most direction derives from the tops of regulatory bodies.
They also felt Senator Hensarling’s Financial Choice Act would not be a better
alternative to Dodd-Frank given the 10% leverage ratio is not a Federal Reserve
definition of leverage. Utilizing a Fed definition would likely lead to leverage north
of 10%. The inclusion of CAMEL ratings with the leverage ratio would also allow
regulatory sway over institutions.
58 2016 Future of Financials Conference | 17 November 2016
Chart 86: Following last week’s GOP sweep, do you think regulatory relief is in the cards for
the financial services industry?
70%
60%
50%
40%
30%
20%
10%
0%
29%
Yes, and this should have a
meaningful impact to returns
62%
Yes, but change in regulatory
burden and subsequent impact
to bank returns will be more
gradual than what financial
stocks are currently pricing in
9%
No, I think there will be little
change in regulatory burden
Source: BofA Merrill Lynch Global Research
• CCAR a product of regulatory attitude: The panelists agreed that CCAR in its
current form is not a result of legislation as post-recession bank stress tests (SCAP)
existed prior to Dodd-Frank. Furthermore, the panelists noted Dodd-Frank’s
definition of a stress test is very basic, which has been made more stringent and
complex as a result of regulators. Mr Cohen also noted that a lack of transparency
of the test was the least defensible part of CCAR.
• Biggest obstacle for bank M&A and activist influence is regulation. Despite
headlines of increased shareholder activism within the banking industry, the
majority of investors polled (61%) believe activist investors have only a moderate
impact on corporate strategy (see chart). Specifically, Mr. Cohen explained that two
of the three reasons why an activist will typically get involved with a corporate are
difficult to achieve on a bank’s board given the level of regulatory oversight on the
industry. While selling the bank is the one area where activists have had success,
this typically occurs at the community bank level. That said, he believes a change in
attitude of regulators could free up M&A activity.
Chart 87: What kind of impact does an activist investor have in corporate strategy and
ultimate shareholder value?
70%
60%
50%
40%
30%
20%
10%
0%
18%
Meaningful impact, as activism
behooves complacent Boards
to rethink corporate strategy in
a way that is most positive to
near-term and long-term
shareholder value
61%
21%
Moderate impact, as activism No meaningful impact, as many
can bring issues to the forefront activists have a short-sighted
and can invigorate deal view of shareholder value
discussions but have modest
influence in corporate strategy
and ultimate shareholder value
Source: BofA Merrill Lynch Global Research
2016 Future of Financials Conference | 17 November 2016 59
• How to do M&A right: When describing acquisitions that most impressed the
panelists, a key reason for success was the acquirer keeping the target
management in place as well as giving the target management independence. The
scope and planning of the integration was also critical for success.
Chart 88: Do you think M&A activity in financial services will pick
up in 2017?
Chart 89: If you voted yes, what statement closely matches your
rationale?
70%
60%
50%
40%
30%
20%
10%
0%
26%
57%
17%
Yes, meaningfully Yes, modestly No, I don’t think deal
activity will increase
60%
50%
40%
30%
20%
10%
0%
48% 47%
Lower anticipated
regulatory burden,
particularly on buyers
Modest economic
tailwinds and/or subscale
businesses will
behoove more
institutions to sell
5%
Shareholder activism
should pick up and
help drive activity
Source: BofA Merrill Lynch Global Research
Source: BofA Merrill Lynch Global Research
Understanding the Changing Fixed Income Markets
We hosted a panel to discuss the evolution of the fixed income market structure given
the advent of electronic trading and regulatory construct. Our panelists included Lee
Olesky (co-founder and CEO of Tradeweb), Adam Brown (Head of US Rates
Electronic Trading at BofAML) and Brian Callahan (Head of US Par Loan Trading
and the head of Electronic Initiatives for Global Credit and Special Situations at
BofAML).
• Electronification of fixed income markets steadily growing; however, lag
European market. Electronic trading came to fixed income trading in the late
1990’s as a way of automating transactions (i.e. create a more efficient process
between parties). Today in the US, the investment grade market is 16-20%
electronic, the high yield market is 8% (has doubled over the last few of years), the
treasury market (which has been growing steadily over last 10-15yrs) is 80-90% of
the actual trade count is electronic. While the electronification of the derivative
market was slower to evolve, recent regulatory reform has accelerated the
electronification process (50% today). That said, while the evolution towards
electronification in the US continues to grow, the European bond market is actually
more advanced with nearly 50% of the bond market automated (vs. 20% for the
US).
• Regardless of possible regulatory relief, electronification may slow but won’t
end entirely. While a partial repeal or lightening of Dodd-Frank would be a net
positive for the financial markets, and possibly lower the costs to banks and endusers,
Mr. Brown doesn’t see a dramatic effect on the market structure. In other
words, regulatory relief may only slow down the electronification progress.
• Electronification within the fixed income market is a modest priority among
asset managers. Fifty-two percent (52%) of the audience polled believe it to be a
modest priority in their own corporate strategy to embrace new
technologies/electronification in fixed income. Mr. Brown was not surprised by the
results as many of the asset managers have their own constraints from technology
funding to regulatory issues to running the day-to-day business. While
60 2016 Future of Financials Conference | 17 November 2016
electronification is something that pays dividends, these benefits occur over time.
That said, general sentiment from asset managers is that electronification is
something they want as it leads to efficiency.
Chart 90: As you think about corporate strategy for asset managers, how open is your firm with
embracing new technologies/electronification in the fixed income space?
60%
50%
52%
40%
30%
20%
19%
29%
10%
0%
Top priority in corporate
strategy
Modest priority in corporate
strategy
Low priority in corporate
strategy
Source: BofA Merrill Lynch Global Research
• ETF market for fixed income securities expected to grow significantly. Unlike in
the equities market where ETFs are 7% of the volume traded, fixed income ETFs
are still sub-1% (0.8% at YE15). As the market continues to grow, particularly in the
asset classes where the underlying bonds aren’t that liquid, Mr. Callahan noted
seeing increased liquidity in the ETFs for liquidity reasons. Following in the
footsteps of the equities market, Mr. Callahan expects the fixed income ETF market
to grow significantly and be very impactful to the overall market structure.
• Greater concern around speed at which liquidity can change vs. liquidity in the
market. There is a lot of concern around liquidity in fixed income markets. That
said, Mr. Brown is more concerned with the speed at which liquidity can change.
There has been growing evidence that the market is going to adjust greater and
faster than the underlying fundamental reasons for the correction. As such, this is
causing participants to revisit how they look at risk management. Now market
participants need to take into account not only their behavior, but their reaction to
other participants’ behavior (i.e. contagion effect).
• Fewer, well-established platforms reduce overall risk within system. Eighty-nine
(89%) percent of the audience polled prefer to conduct business with a few, wellestablished
platforms to diminish risk within the system. Using the government
bond market as an example, Mr. Olesky points out that the growing contribution
from PTFs to the overall treasury trade volume has increased the risk outside the
primary-dealer system. This is a risk Mr. Olesky believes needs to be addressed and
prefers a central clearinghouse for fixed income transactions.
2016 Future of Financials Conference | 17 November 2016 61
Chart 91: As you think about platform management, what is your view on having multiple options of
liquidity providers?
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
11%
Prefer to have a material amount of options
89%
Prefer to conduct business with a few, wellestablished
platforms
Source: BofA Merrill Lynch Global Research
62 2016 Future of Financials Conference | 17 November 2016
Table 1: PO Changes
Firm Rating QRQ Current Price Old PO New PO
ASB UNDERPERFORM B-3-7 $22.45 $19.00 $20.00
BANC NEUTRAL C-2-7 $14.80 $18.50 $15.50
BBT BUY B-1-7 $42.82 $41.00 $45.00
BKU BUY C-1-7 $34.19 $36.00 $37.00
BOH UNDERPERFORM B-3-7 $85.67 $64.00 $75.00
C BUY B-1-7 54.63 $55.00 $60.00
CBF BUY C-1-7 $35.80 $35.00 $38.00
CBSH NEUTRAL A-2-7 $56.39 $53.00 $60.00
CFG BUY B-1-7 $30.73 $28.00 $33.00
CFR UNDERPERFORM B-3-7 $82.93 $70.00 $74.00
CMA UNDERPERFORM B-3-7 $59.21 $49.00 $55.00
EWBC BUY B-1-7 $45.64 $45.00 $50.00
FBP NEUTRAL C-2-9 $6.29 $6.00 $6.50
FCB BUY C-1-9 $39.75 $44.00 $44.00
FHB NEUTRAL C-2-7 $29.48 $28.00 $31.00
FHN UNDERPERFORM B-3-7 $17.97 $14.50 $16.00
FITB NEUTRAL B-2-7 $24.90 $23.00 $26.00
FSB NEUTRAL C-2-9 $33.80 $40.00 $36.00
GS BUY B-1-7 $206.26 $195.00 $230.00
GWB BUY B-1-7 $38.85 $38.00 $42.00
HBAN BUY C-1-7 $11.93 $12.00 $13.00
HBHC NEUTRAL B-2-7 $39.05 $35.00 $41.00
IBKC BUY B-1-7 $78.05 $74.00 $85.00
JPM BUY B-1-7 77.40 $74.00 $83.00
KEY BUY B-1-7 $16.73 $17.00 $18.00
MS BUY B-1-7 $39.19 $36.00 $43.00
NYCB BUY C-1-8 $15.36 $17.00 $17.00
PB UNDERPERFORM B-3-7 $64.38 $50.00 $58.00
PNC BUY B-1-7 $107.51 $100.00 $110.00
RF NEUTRAL B-2-7 $12.89 $11.00 $13.00
SBNY BUY B-1-9 $147.02 $140.00 $160.00
SIVB BUY B-1-9 $147.35 $140.00 $165.00
SNV NEUTRAL C-2-7 $38.01 $35.00 $40.00
STI BUY B-1-7 $50.79 $48.00 $53.00
TCB UNDERPERFORM B-3-7 $16.23 $13.50 $14.00
TCBI NEUTRAL C-2-9 $70.75 $62.00 $74.00
UMBF BUY B-1-7 $72.04 $65.00 $78.00
USB NEUTRAL B-2-7 $47.87 $45.00 $50.00
WFC BUY B-1-7 51.68 $50.00 $55.00
ZION UNDERPERFORM C-3-7 $37.46 $30.00 $36.00
Source: BofA Merrill Lynch Global Research
2016 Future of Financials Conference | 17 November 2016 63
Price objective basis & risk
AllianceBernstein (AB)
Our $25 price objective is based on 13x target P/E on our '17E, a discount vs our target
for asset managers as a group, based on improving but inconsistent flows and limited
active equity exposure as well as the MLP structure which means less liquidity, though a
high distribution. Upside/downside risks to our price objective are market
appreciation/depreciation, similar to other asset managers, underperformance, and an
unpredictable yield since it is based on earnings rather than fixed. Because Alliance is an
MLP, total potential return includes a variable distribution based on earnings.
Amer Express (AXP)
Our $74 price objective reflects a 13x PE multiple to our 2017 EPS estimate. Given the
elevated uncertainty, we expect AXP will trade near the low end of its historical
valuation range, which averages 12x-16x. This multiple reflects our view of solid loan
growth and better billings, offset by increased risks of rising credit and marketing costs.
We think the market will view AXP through a more credit card lens in the near-term,
which also supports a multiple at the low end of the historical range.
Upside risks to our PO are stronger than expected macroeconomic conditions,
accelerating consumer and business spending, lack of disruptions in capital markets, or a
decreasing regulatory burden. Downside potential could come from weaker than
expected macroeconomic conditions and renewed recessionary pressure, softer
consumer and business spending, disruptions in capital markets, or an increasing
regulatory burden.
Ares Management (ARES)
Our price objective (PO) for Ares is $18, which implies a target price-to-ENI (P/ENI or
P/E) multiple of 11x our 2017 ENI estimate. Our price objective is based on our sum-ofthe-parts
(SOTP) analysis. Our SOTP analysis includes the following components: a
target multiple on fee related earnings (15x - in line with or a premium to asset
manager multiples given healthy growth and sticky assets), book value for the balance
sheet investments and accrued carry, and a discounted value on the performance fee
upside over a cycle (1.3x MOIC). Based on this method, we value the fee related
earnings at $13/unit, the balance sheet (principal investments and accrued carry) at
$4/unit, and the discounted value of future carry income and investment income at
$1/unit, which equates to a total value of $18.
Risks to our PO: a weak macro and capital markets backdrop, potential changes in tax
laws related to carried interest and partnerships, legal and political risk, increased
regulation, credit market disruptions, poor performance, weak fundraising, expansion
risk, key person and talent risk, competition, a unique corporate structure that limits
unitholder control, and lock ups.
Associated Banc-Corp (ASB)
We use an equal weighted three-factor valuation framework (P/E, P/TBV, DCF) to arrive
at our $20 price objective and assign a 1.4x multiple to 3Q17E TBV and a 14.9x 2017
P/E multiple, in-line with smid-cap peers due to their near median return profile. Our
DCF assumes a two-stage cost of capital of 10% and a terminal growth rate of 5%. The
upside risk to our price objective is a less onerous residential RE cycle. Downside risks
are a double dip in housing prices, deteriorating energy portfolio and falling rental
income for commercial properties.
Banc of California (BANC)
To arrive at our $15.50 price objective, we have employed a three-factor valuation
methodology that incorporates target P/E, target P/TBV and a DCF model. For our P/E
analysis, we use a 14x earnings multiple on BANC's 2017E core earnings below peer
64 2016 Future of Financials Conference | 17 November 2016
multiples due to lagging EPS growth. For our P/TBV valuation, we apply a 1.2x tangible
book multiple to BANCs 2Q17E tangible book below peer multiples due to lagging ROTE.
For our DCF analysis, we forecast net income growth stabilizes at 3% in the terminal
stage. We also assume a beta of 1.1x in the terminal stage.
Downside risks to our price objective are slower than expected loan growth, and a
reduction in the common dividend.
Bank of Hawaii Corp. (BOH)
We use an equal weighted three-factor valuation framework (P/E, P/TBV, DCF) to arrive
at our $75 PO and assign a 2.2x multiple to 2Q17E TBV, representing a premium to
peers, which we believe is appropriate given a stronger profitability and capital profile.
Our 17x multiple on 2017E EPS is equal to the the peer median given average EPS
growth relative to peers. Our DCF assumes a two-stage cost of capital of 9.8% and a
terminal growth rate of 3%.
Downside risks to our price objective are a longer-than-anticipated low rate
environment and a reversal of local economic improvement. Upside risks are a strongerthan-expected
economic rebound, better-than-expected capital distribution and a
shorter-than-anticipated low rate environment.
BankUnited, Inc. (BKU)
To arrive at our $37 price objective, we have employed an equal-weighted three factor
valuation methodology that incorporates target P/TBV, P/E and DCF. We have applied a
target P/TBV value multiple of 1.5x on our 2Q17E TBV and a P/E target multiple of 16x
'17 EPS, based on BKU's above average growth relative to peers. Our DCF assumes a
two-stage cost of capital of 7.9% and 9.3% and a terminal growth rate of 6%.
Downside risks to our price objective are slower CRE loan growth on the back of
regulatory oversight, as well as an inability to deploy excess capital, increased
competition for Florida M&A and an inability to continue to implement an organic
growth strategy in New York City.
BB&T Corporation (BBT)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $45 PO
and assign a 1.6x multiple to 2017E TBV and 14.5x multiple on 2017E EPS. We have
weighted the P/E and P/TBV factors equally at 40%, and our DCF analysis by 20%.
Our EPS multiple is in-line with BBT's historical avg, which reflects very high-growth
years in the 1990s, a pace unlikely to be achieved near term given BBT's size as well as
the challenging macro backdrop and industry headwinds. Our DCF assumes a two-stage
cost of capital of 9.7% and 10.9% and a terminal growth rate of 4%.
Risks to our price objective are macro risks such as a double dip recession, the
implementation of a strict liquidity coverage ratio and further regulation on overdraft
income that restricts bank profitability. Specific to BBT, risks are enhanced regulatory
scrutiny and capital standards as a Domestic SIFI, the announcement of a large,
expensive deal, and the risk that the NPBC transaction does not consummate.
Capital Bank Financial Corp. (CBF)
Our $38 PO is based on an equal-weighted, two-factor valuation methodology that
assumes: We assumes a 20.0x P/ 2017e EPS and a target P/TBV of 1.6x to 2017E
tangible book given our forecast above peer EPS growth.
Downside risks to our PO are an inability to deploy excess capital and create value
through acquisitions.
2016 Future of Financials Conference | 17 November 2016 65
Citigroup Inc. (C)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $60 PO,
assigning a 0.9x multiple to 2017E TBV and 11x multiple on '17E blended NA and EM
earnings. We have weighted the P/E and P/TBV factors equally at 40%, and our DCF
analysis by 20%.
Near term, we view C's current market multiple as overly discounted, but expect money
center banks will likely continue to trade at a discount to the regionals. Our 1x TBV
multiple represents a 0.3x discount to our median multiple for our universe. Our
discount to TBV is a reflection of the earnings drag from Holdings and the fact that
money centers will most likely continue to trade at a discount to regional peers. Our 11x
16E multiple is based on a sum of the parts analysis, where we apply a 10.5x multiple,
on all operations ex. Lat Am and Asia GCB. We then apply a 11x multiple on Lat Am and
Asia GCB to represent the earnings growth for consumer banking in emerging markets.
Lastly, we deduct the earnings drag from Holdings. Our DCF analysis assumes a 5%
growth rate and two stage cost of equity of 13%.
Risks to our PO are macro risks such as a slower than expected rate of fed hikes, and
economic downturn and further scrutiny of the financials industry. Specific to C, risks
are enhanced regulatory and capital standards as a Global SIFI, slower wind-down on Citi
Holdings than expected, and slower-than-expected growth in the emerging markets and
potential fines.
Citizens Financial Group (CFG)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $33 price
objective and assign a 1.2x multiple to our 2017E TBV in-line with other asset sensitive
peers. We place a 15x multiple on our 2017E EPS, also in-line with its asset sensitive
peer group. Our DCF assumes a two-stage cost of capital of 10% and a terminal growth
rate of 5%.
Downside risks to our price objective are: 1) a significantly delayed Fed rate hike leading
to pressured revenue growth, 2) higher losses associated with CFG's consumer oriented
loan portfolio, and 3) a quicker than expected credit normalization.
Comerica Incorporated (CMA)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $55 PO,
and assign a 1.2x multiple to 2017E TBV (in line with the median energy-exposed peers)
and 16x multiple on 2017E EPS due to below peer EPS growth and ROTE. We have
weighted the P/E and P/TBV factors equally at 33%, and our DCF analysis by 33%. Our
DCF assumes a two-stage cost of capital of 12.3% and 10.5% and a terminal growth
rate of 5% and Tier 1 common of 8% at termination.
Downside risks to our PO are a more severe than expected impact from lower energy
prices, or a slower than expected rate of fed hikes. Upside risks are a better than
expected rebound in energy prices and sooner recognition of cost saves.
Commerce Bancshares Inc. (CBSH)
We use an equal-weighted three-factor valuation framework (P/E, P/TBV, DCF) to arrive
at our $60 PO and assign a 2.2x multiple to 2Q17E TBV, representing a premium to
peers, given higher-quality earnings and capital position. Our assigned 18x multiple on
2017E EPS is at a premium to peers due to higher earnings quality. Our DCF assumes a
terminal cost of equity of 9%, and a terminal growth rate of 3%.
Downside risks to our price objective are regulatory headwinds, or longer-thananticipated
low-rate environment. Upside risks are a stronger-than-expected economic
rebound, better-than-expected capital distribution and a potential takeout above our
price objective.
66 2016 Future of Financials Conference | 17 November 2016
Cullen/Frost Bankers Inc (CFR)
To arrive at our $74 price objective, we employed a three-factor valuation methodology
that incorporates target P/E, target P/TBV and a DCF model. For our P/E valuation, we
apply a 15x earnings multiple on CFR's 2017E core earnings. For our P/TBV valuation,
we apply a 1.7x tangible book multiple to CFR's 2017E tangible book. Both multiples are
lower than peers for CFR due to EPS headwinds and rising credit costs from lower
energy prices. For our DCF analysis, we use a net income growth of 3.0% and assume a
beta of 1.0 in the terminal stage.
Upside risks to our PO: a sharp rebound in oil prices, higher than expected interest rates,
stronger loan growth, better than expected credit performance of CFR's energy loan
portfolio. Downside risks: A worse than expected decline in Texas economic growth that
impacts CFR's balance sheet growth, a slower than expected pace or rate hikes and a
worse than expected sell off in oil prices.
East West Bancorp, Incorporated (EWBC)
Our three-pronged valuation methodology (target P/E, target P/TBV, and DCF analysis)
drives our price objective of $50. We assumes a 16.0x P/ 2017e EPS and a target P/TBV
of 2.0x to 2Q17E tangible book given our forecast above peer EPS growth. Our DCF
assumes a two-stage cost of capital of 9.5% and a terminal growth rate of 3% Upside
risks to our PO are a quick economic recovery (led by stabilization or appreciation in CA
housing values) or a faster than expected recovery in China. Downside risk to our PO is
an even deeper economic slowdown driving corporate losses higher than we currently
anticipate, faster than expected normalization in credit.
Eaton Vance (EV)
Our $35 price objective is based on a target P/E of 15x calendar 2016E (14x '17E), at a
discount to our asset-manager group target multiple, given recent outflows from high
fee products, offset by distinct products in areas such as floating rate and overlay.
Downside risks to our price objective are market depreciation and investment underperformance,
as for all asset managers, and (should the economy slow) concentration in
some credit areas, such as bank loan funds, high yield and longer-duration munis. Upside
risks are improving performance, flows, or future traction from EV's ETF licensing
initiative.
FCB Financial Holdings, Inc (FCB)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $44 price
objective and assign a 1.6x multiple to our 2017E TBV given that we believe the market
would pay a 0.3x premium for FCB's 2016 estimated returns in line with the median
premium of its peer group (Florida banks, High Growth, Bank Acquisition, and SMIDs).
We place a 18x multiple on our 2017E EPS, a premium to its SMIDs peers given our
outlook for stronger EPS growth. Our DCF assumes a two-stage cost of capital of 10%
and a terminal growth rate of 3%.
Downside risks to our price objective are a deterioration in credit quality in FCB's
unseasoned newly originated loan portfolio, a downturn in the Florida economy, and
continued competition for C&I loans. Upside risks are a better than expected
improvement in its return profile and a much stronger economic improvement in the
Florida economy.
Fifth Third Bank (FITB)
Our PO of $26 is predicated on target P/E multiple of 15x to reflect higher confidence
in FITB achieving most of its profit improvement goals related to Project North Star.
This represents a modest premium versus peers. Downside risks to our PO are a
prolonged low interest rate environment, expensive M&A and slower than guided loan
growth on weaker economic activity.
2016 Future of Financials Conference | 17 November 2016 67
First Bancorp Puerto Rico (FBP)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $6.50 price
objective. We assign a 1.0x multiple to our 2Q17E TBV, below the 1.6X for peers, due to
the overhang of PR fiscal issues that may reduce TBV. Our revised implied 2Q17E TBV
of 1.0x is consistent with a 5% ROE. We assign a 10x multiple to our 2017E EPS, in line
with peers. Our DCF assumes a two-stage cost of capital of 10% and a terminal growth
rate of 3%.
Downside risks to our price objective are a worse-than-expected restructuring of PR
government debt, deterioration in the Puerto Rican economy that could hurt the ongoing
credit and earnings recovery at FBP, a change in management's strategy to dispose
troubled assets, and potential regulatory risk stemming from the ongoing
implementation of the Dodd-Frank financial rules. Upside risks to our price objective are
a much stronger economic improvement in Puerto Rico and a better-than-expected
improvement in asset quality trends at FBP.
First Hawaiian Inc. (FHB)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $31 PO
and assign a 2.2x multiple to 2017E TBV and 17x multiple on 2017E EPS, representing
premium target multiples for the median smid-cap banks under coverage. We have
weighted the P/E and P/TBV factors equally.
A superior profitability profile suggests an above peer multiple. Our DCF assumes a twostage
cost of capital of 8% and a terminal growth rate of 4%.
Risks include 1) FHB's reliance on the Hawaiian economy with 80% of the franchise
spread across Hawaii, Guam, and Saipan poses downside risk to EPS from a severe
economic downturn in this region. 2) While FHB has a history of conservative
underwriting its exposure to auto loans could serve as an overhang if investor concerns
around the health of the auto sector and consumer increase. 3) Expectations for
continued divestiture by French bank BNP (owns 82% of shares o/s) could temper stock
performance.
First Horizon National Corp. (FHN)
We use a three-prong valuation framework (P/E, P/TBV, DCF) to arrive at our $16 price
objective and assign a 1.5x multiple to 2Q17E TBV and a 14x multiple to 2017E EPS
(inline with median for our mid-to-small cap universe). We believe that this valuation
discount is warranted given the below average earnings growth that we forecast for
FHN. Our P/TBV and P/E targets reflect our expectation that earnings growth and
profitability will remain challenged by a low growth low interest rate environment. Our
DCF assumes a two-stage cost of capital of 10% and a terminal growth rate of 5%.
Downside risks to our price objective are a double dip in home prices and slower
residential real estate recovery. Upside risks are FHN being taken out above our price
objective and better performance in the economy than we expect.
Franklin Financial Network, Inc. (FSB)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $36 price
objective and assign a 1.8x multiple to our 2Q17E TBV, given that we believe the market
would pay no premium for FSB's 2016 estimated returns of 14%, below the median of
its peer group (High performing, Southeast peers, and SMIDs). We place a 14x multiple
on our 2017E EPS, a premium to its peer group given above average expected EPS
growth. Our DCF assumes a two-stage cost of capital of 10% and a terminal growth
rate of 3%.
Downside risks to our price objective are: 1) execution risk leading to slower than
expected loan growth or lower than expected improvement in the efficiency ratio, 2)
68 2016 Future of Financials Conference | 17 November 2016
downturn in the local real estate markets affecting Franklin's construction loans and
increasing credit costs via higher charge-offs and provisions, and 3) inability to
effectively fund asset growth driving greater than expected compression in the net
interest margin.
Goldman Sachs (GS)
We value the brokers based on the relationship between ROE (return on equity) and PB
(price to book), which has a high historical correlation. Our $230 PO is based on a target
PB multiple of 1.2x our forward book value estimate, which is above our 2017E ROE of
roughly 10% as we add in higher interest rate expectations and loosening regulations
into our multiple.
Risks to the downside are a weaker economy/capital markets, increased macro issues,
tougher regulation, and litigation, while risks to the upside are a stronger economy,
moderating macro risks, market share gains, and less onerous regulatory and legal
issues.
Great Western Bancorp Inc (GWB)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $42 price
objective and assign a 2.0x multiple to our 2Q17E TBV given that we believe the market
would pay premium for GWB's 2016 estimated returns of 15%, in line with the median
premium of its peer group (High performing, Midwest peers, and SMIDs). We place a 16x
multiple on our 2017E EPS, a premium to its peer group given higher quality earnings.
Our DCF assumes a two-stage cost of capital of 10% and a terminal growth rate of 3%.
Downside risks to our price objective are a prolonged downturn in the farm sector and
lower for longer interest rate environment. Upside risks are a better than expected
improvement in the farming industry and a much stronger economic improvement in the
Midwest economy.
Hancock Holding (HBHC)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $41 price
objective. We assign a 1.5x multiple to our 2Q17E TBV, in line with SMID-cap peers
based on their in-line return profile, and this translates to $35.75. We place a 14.5x
multiple on our 2017E EPS, in line with other peers based on forecasted EPS growth, for
$33. Our DCF assumes a two-stage model with terminal growth rate of 3.5% and a cost
of capital of 8.5% to derive our $35 PO.
Downside risks to our price objective are regulatory issues, slowing growth and if M&A
synergies do not materialize. Upside risks are better than expected cost saves, stronger
loan growth that would lead to better than forecast spread revenue and lower credit
costs.
Huntington Bancshares Inc. (HBAN)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our PO of $13
and assign a 1.8x multiple to 2017E TBV and a 14x multiple on 2017E EPS, below
historical multiples. This is due to more stringent capital standards and the negative fee
income impact of pending regulatory reform. Our DCF analysis uses a cost of equity of
15.7% in the first stage and 11% in the second stage, and a terminal growth rate of 3%.
Risks to our price objective are an inability to offset regulatory fee income headwinds
and integration risk associated with FMER. Other risks are an inability to return capital
to shareholders in a timely fashion or overpaying for an acquisition target.
IBERIABANK Corp (IBKC)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $85 price
objective and assign a 1.6x multiple to our 2Q17E TBV, in line with multiples of other
2016 Future of Financials Conference | 17 November 2016 69
high growth peers. We place a 16x multiple on our 2017E EPS in line with SMID peers.
Our DCF assumes a two-stage cost of capital of 10% and a terminal growth rate of 3%.
Downside risks to our price objective are worse than expected decrease in oil prices,
regulatory issues, deteriorating credit quality, and if M&A synergies do not materialize.
Upside risks are sooner than expected recovery in the oil price, faster than expected rate
hikes or better than expected improvement in the US economy.
Invesco (IVZ)
Our $36 price objective is based on a target P/E multiple of 14x our 2017E, which is
above IVZ's historical valuation relative to the group given expectations for superior
organic growth. Risks to our price objective are market depreciation and investment
underperformance, as for all asset managers, along with volatile flows in IVZ's passive
strategies, non-US currency and market risk.
JPMorgan Chase & Co. (JPM)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $83 PO,
assigning a 1.5x multiple to 2017E TBV and 13x multiple on 2017E EPS. We have
weighted the P/E and P/TBV factors equally at 40%, and our DCF analysis by 20%.
Near term, we view JPM's current market P/E multiple as overly discounted, but expect
money center banks will likely continue to trade at a discount to the regionals. Our 11x
multiple is a 2x discount to our median multiple as we believe in the near future, money
centers will continue to trade at a discount to regional peers. Our DCF assumes a twostage
cost of capital of 10% and a terminal growth rate of 4%.
Risks to our price objective are macro risks such as a longer than expected low interest
rate environment and further regulation and scrutiny of the financials industry. Specific
to JPM, risks are enhanced regulatory and capital standards as a Global SIFI, mortgage
putback risk, material decline in investment banking/trading profitability, and increased
litigation on matters such as private label securitization, foreclosures, etc.
Key Corp (KEY)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $18 PO
and assign a 1.4x multiple to 2017E TBV and 15x multiple on 2017E EPS, in-line with its
peer group due to near median profitability and EPS growth. Our DCF assumes a two
stage cost of capital of 13.4% and 10.9% and a terminal growth rate of 5% and Tier 1
common of 8% at termination.
Downside risks to our PO are a prolonged low interest rate environment, greater than
expected expenses, inability to maximize balance sheet efficiency, and the
announcement of expensive deals.
KKR & Co. (KKR)
Our price objective (PO) for KKR is $17, which results in a target price-to-ENI (P/ENI or
P/E) multiple of 10x our 2017 economic net income (ENI) estimate. Our price objective
is based on our sum-of-the-parts (SOTP) analysis. Our SOTP analysis is based on the
following components: a target multiple on fee related earnings (11x - discount to asset
manager multiples given revenue mix), a discount to book value for the balance sheet
investments and accrued carry given markets, and a discounted value on the
performance fee upside over a cycle. Based on this method, we value the fee related
earnings at $6/unit, the balance sheet (principal investments and accrued carry) at
$9/unit, and the discounted value of future carry income and investment income at
$2/unit, which equates to a total value of $17, in line with our price objective.
Risks to our PO: a weak macro and capital markets backdrop, potential changes in tax
laws related to carried interest and partnerships, regulatory and political risk, poor
70 2016 Future of Financials Conference | 17 November 2016
performance, weak fundraising, principal investment and balance sheet risk, expansion
risk, key person and talent risk, competition, a unique corporate structure that limits
shareholder control, and share lock-ups that could weigh on the stock.
Legg Mason (LM)
Our $36 price objective is based on a target P/E multiple of 12x our calendar '17E, a
discount to the group, given financial leverage, muted flows, and deal/integration risk.
Downside risks to our price objective: an equity sell-off or weakening flows, which
would pressure AUM and revenues. A return to past under-performance at key affiliates
is also a risk for Legg, given its fragile recovery and brand issues. Given their affiliate
model there are integration risks. Upside risks to our price objective are better than
expected equity markets, performance, or flows, or an accretive acquisition.
Morgan Stanley (MS)
We value the brokers based on the relationship between ROE (return on equity) and PB
(price to book), which has a high historical correlation. Our $43 PO is based on a target
PB multiple of 1.3x our forward book value estimate, which is above our 2017E ROE of
roughly 8% as we add in higher interest rate expectations and loosening regulations into
our multiple.
Risks are a weak economy, low rates for longer, a significant reduction in capital
markets activity, weak returns, another shock to the financial system, ongoing
competition and talent risk, tighter regulation, significantly higher capital requirements,
and ongoing litigation risks.
New York Community Bancorp (NYCB)
Our price objective is $17 and we use a three factor valuation model equally weighing
valuations using P/E, P/TBV and DCF models. To arrive at our P/E valuation, we assign a
14x multiple to our blended '17e EPS or inline with the median of other CCAR banks
with $50-100bn in assets. To arrive at our P/TBV valuation we applied a 2.2x multiple to
our 2Q17E TBV, a premium to NY/Thrift and smid cap peers given NYCB's superior
return profile. We arrive at our DCF valuation using we assume a 2% terminal growth
rate and a WACC of 8%.
Upside risks to our price objective are: 1) Change in SIFI threshold could drive a relief
rally, 2) Lower for longer rate backdrop, and 3) A period of heightened market volatility.
Downside risks to our price objective are: 1) worse than expected impact on ROTE from
increased capital standards from obtaining the SIFI designation and 2) higher than
expected impact from increasing rates on funding cost.
Prosperity Bancshares Inc (PB)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $58 price
objective. We assign a 1.8x multiple to our 2Q17E TBV (40% weight) compared to 1.1x
median of TX peers. We believe the 0.7x premium to Texas peers is warranted given
PB's above average return on tangible equity (ROTE) profile. We place a 14x multiple on
2017E EPS, in line with historical P/E median (40% weight) net of accretable yield. Our
DCF valuation ((20% weight) suggests a fair value of $45. Our DCF assumes a terminal
growth rate of 3% and cost of capital of 9.9%.
Risks to our price objective are worse than expected drop in the price of oil, better than
expected macro environment and increasing rates which offset the effects of lower oil
prices, or inability to close an M&A deal due to regulatory or capital constraints.
Regions Financial (RF)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $13 price
objective and assign a 1.4x multiple to 2017E TBV and 14x multiple on 2017E EPS. Our
2016 Future of Financials Conference | 17 November 2016 71
estimates imply RF would generate ROTEs of 10-11% in 2016-2017E, hence we find RF
fairly valued at 1.3x TBV. Our 13x multiple is in-line with large regional peers. Our DCF
assumes a two-stage cost of capital of 13.6% and 10.5% and a terminal growth rate of
6.5% and Tier 1 common of 8% at termination.
Downside risks to our PO are a slower-than-expected credit recovery, and the Fed on
hold for a longer period of time.
Signature Bank (SBNY)
We use an equal-weighted three-factor valuation framework (P/E, P/TBV, DCF) to arrive
at our $160 PO and assign a 2.1x multiple to 3Q17E TBV, representing a premium to the
group, which we believe is appropriate given a stronger profitability and capital profile,
and above-peer-growth prospects. Our 16.1x multiple on 2017E is higher than peers
given consistent above peer growth. Our DCF assumes a two-stage cost of capital of
10% and a terminal growth rate of 4%.
Risks to our price objective are required provisioning at higher-than-forecast levels,
further deterioration in rental income for commercial properties, and a longer-thananticipated
low-rate environment.
SunTrust Banks, Inc. (STI)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $53 PO,
assigning a 1.7x multiple to 2017E TBV and 14.5x multiple on 17E EPS. Above peer
P/TBV due to their above median profitability, and below peer P/E due to their below
median EPS growth. We have weighted the P/E and P/TBV factors equally at 40%, and
our DCF analysis by 20%.
Our DCF assumes a two-stage cost of capital of 12% and a terminal growth rate of 4%.
Risks to our price objective are macro risks, such as a slower than expected rate
increase. Upside risks are higher-than-expected capital return, a general beta rally for
bank stocks, and faster recognition of ""normalized"" earnings.
SVB Financial Group (SIVB)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $165 price
objective and assign a 1.8x multiple to our 2Q17E TBV and apply a 17x P/E to 17E EPS.
Our valuation multiples are both in line with high growth peers due to SIVB's high
profitability and EPS growth profile. Our DCF assumes a two-stage cost of capital of
9.5% and a terminal growth rate of 6%.
Downside risks are a longer than expected low rate environment and a slowdown in the
technology sector and related IPO activity. Upside risks are sooner than expected rate
hike, or better than expected pickup in the tech sector.
Synovus Financial Corp. (SNV)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $40 price
objective and assign a 1.7x multiple to our forward 2Q17 TBV, given peers are currently
trading higher and a discount is warranted given their lower return profile. We place a
15x multiple on 2017E EPS, in line with the historical median for the stock. Our DCF
assumes a two-stage cost of capital of 9%, and a terminal growth rate of 3%.
Downside risks to our price objective are potentially slower-than-expected economic
growth in their footprint or a potential takeout price that is lower than where the stock
is trading today. Upside risks to our price objective are a quicker pick-up in capital return
than we are expecting and SNV being acquired above our price objective.
TCF Financial Corp. (TCB)
72 2016 Future of Financials Conference | 17 November 2016
We use an equal weighted, three-factor valuation framework (P/E, P/TBV, DCF) to arrive
at our PO of $14. We assigned a 1.2x multiple to 2Q17E TBV and a 12x multiple on
2017E EPS, with lower PTBV/PE multiple than peers assigned due to the higher
perceived risk of their lending model. Our DCF assumes a two-stage cost of capital of
9.4% and 11.5% and a terminal growth rate of 2%.
Upside risk to our price objective is a less onerous residential real estate cycle favorably
benefiting credit provision forecasts. Downside risks are a double dip in home prices
and a prolonged low rate environment.
Texas Capital Bancshares Inc. (TCBI)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $74 price
objective and assign a 1.7x multiple to our 2Q17E TBV, below high growth peers due to
possible losses as a result of the downturn in energy prices. We place a 17x multiple on
our 2017E EPS, below TCBI's historical pre-crisis P/E multiple based on possible EPS
headwinds from their energy exposures. Our DCF assumes a two-stage cost of capital of
10% and a terminal growth rate of 4%.
Downside risks to our price objective are lower than expected oil prices and a slowdown
in economic activity in Texas. Upside risk to our price objective is better than expected
ramp up in MCA business, and sooner than expected hike in rates, faster than expected
recovery in oil prices.
The Blackstone Group (BX)
Our price objective (PO) for Blackstone is $29, which results in a target price-to-ENI
(P/ENI or P/E) multiple of 12x our 2017 ENI estimate. Our price objective is based on
our sum-of-the-parts (SOTP) analysis. Our SOTP analysis is based on the following
components: a target multiple on fee related earnings (16x - roughly in line with or a
premium to top tier asset manager multiples given healthy growth and sticky assets),
book value for the balance sheet investments and accrued carry, and a discounted value
on the performance fee upside over a cycle (1.5x MOIC). Based on this method, we value
the fee related earnings at $14/unit, the balance sheet (principal investments and
accrued carry) at $6/unit, and the discounted value of future carry income and
investment income at $9/unit, which equates to a total value of $29, in line with our
price objective.
Risks to our PO: a weak macro and capital markets backdrop, potential changes in tax
laws related to carried interest and partnerships, legal and political risk, increased
regulation, poor performance, weak fundraising, expansion risk, key person and talent
risk, competition, and a unique corporate structure that limits unitholder control.
The Carlyle Group (CG)
Our price objective (PO) for Carlyle is $18, which implies a target price-to-ENI (P/ENI or
P/E) multiple of 13x our 2017 ENI estimate. Our price objective is based on our sum-ofthe-parts
(SOTP) analysis. Our SOTP analysis is based on the following components: a
target multiple on fee-related earnings (16x, roughly in line with or a premium to asset
manager multiples given growth outlook), book value for the balance sheet investments
and accrued carry, and a discounted value on the performance fee upside over a cycle
(1.5x MOIC). Based on this method, we value the fee-related earnings at $4 share, the
balance sheet at $5 share, and incentive upside at $9 share, which equates to a total
value of $18, in line with our price objective.
Risks to our PO: a weak macro and capital markets backdrop, potential changes in
carried interest and partnership tax laws, regulatory and political risk, poor performance,
weak fundraising, expansion risk, key person and talent risk, competition, a unique
corporate structure that limits shareholder control, a limited float, and share lock-ups
that could weigh on the stock.
2016 Future of Financials Conference | 17 November 2016 73
The PNC Financial Services Group, Inc. (PNC)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $110 PO
and assign a 1.4x multiple to 2017E TBV and 14x multiple on 2017E EPS, in line with
target multiples for the median large regional banks under coverage. We have weighted
the P/E and P/TBV factors equally at 40%, and our DCF analysis by 20%.
A superior profitability profile suggests an above peer multiple - however, a challenging
macro backdrop and specific industry headwinds restrain our P/E target. Our DCF
assumes a two-stage cost of capital of 9.6% and 11.2% and a terminal growth rate of
4%.
Risks are macro risks such as a lower for longer rate environment, the implementation
of a strict liquidity coverage ratio and further regulation on overdraft income that
restricts bank profitability.
U.S. Bancorp (USB)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $50 PO,
assigning an above peer 2.8x multiple to 2017E TBV and near median 14.5x multiple on
2017E EPS due to their above median profitability. We have weighted the P/E and
P/TBV factors equally at 40%, and our DCF analysis by 20%. Our DCF assumes a twostage
cost of capital of 9.5% and 10.9% and a terminal growth rate of 5%.
Risks to our price objective are macro risks such as a double dip recession, the
implementation of a strict liquidity coverage ratio and further regulation on overdraft
income that restricts bank profitability. Specific to USB, risks are enhanced regulatory
scrutiny and capital standards as a Domestic SIFI and an announcement of a large
expensive deal that could weigh on the stock price.
UMB Financial Corporation (UMBF)
We use a three-factor valuation framework (P/TBV, P/E, DCF) to arrive at our $78 price
objective and assign a 1.8x multiple to our 2Q17E TBV, in-line with peers, and we place
a 18x multiple on our 2017E EPS, above peers given our above median EPS growth
forecast. Our DCF model assumes cost of equity of 8% and a terminal growth rate of
4%.
Downside risks to our price objective are continued rising long rates, which could
negatively impact the company's sizable securities book and erode tangible book value.
In addition, a sudden outflow of deposits could impact EPS and the asset sensitivity of
UMBF's balance sheet to higher interest rates. Upside risks to our price objective are a
much faster asset mix change into higher yielding loans that significantly increases its
net interest margin.
Wells Fargo & Company (WFC)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $55 PO,
assigning a 1.75x multiple to 2017E TBV and 13x multiple on 2017E EPS. We have
weighted the P/E and P/TBV factors equally at 40%, and our DCF analysis by 20%.
Our 1.6x TBV multiple represents a 0.3x premium to our mega-cap median multiple, but
we believe this is justified due to WFC's superior returns on tangible equity (ROTE
consistent between 13%-14% throughout our forecast period, versus 12% for peers).
Our 12x EPS multiple is in line with our mega-cap median multiple. We believe WFC
deserves to trade at a premium due to better earnings growth, but we are assuming
WFC trades in line with peers due to a higher percentage of earnings from mortgage
banking and accretable yield, as well as potentially greater regulatory scrutiny as the
second largest US depository. Our DCF assumes a two-stage cost of capital of 11% and
a terminal growth rate of 4%.
74 2016 Future of Financials Conference | 17 November 2016
Downside risks to our price objective are an economic slowdown and the final
implementation of a strict liquidity coverage ratio. Specific to WFC, risks are enhanced
regulatory scrutiny and capital standards as a Global SIFI, and issues surrounding its
cross selling.
Zions Bancorp (ZION)
We use a three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our $36 price
objective and assign a 1.2x multiple to 2017E TBV. Our 16x P/E multiple, which we apply
on 2017E EPS along with debt extinguishment upside, is 1x higher than its historical
median due to low interest rates. Our DCF assumes a two-stage cost of capital of
16.1% and 11.6% and a terminal growth rate of 8%.
Upside risks to our price objective are more robust economic recovery and less onerous
post cycle reserve requirements. Downside risks are a slowdown in housing price
appreciation and a prolonged low interest rate environment.
Analyst Certification
We, Erika Najarian, Ebrahim H. Poonawala, Kenneth Bruce and Michael Carrier, CFA,
hereby certify that the views each of us has expressed in this research report accurately
reflect each of our respective personal views about the subject securities and issuers.
We also certify that no part of our respective compensation was, is, or will be, directly or
indirectly, related to the specific recommendations or view expressed in this research
report.
Special Disclosures
BofA Merrill Lynch is currently acting as financial advisor to KKR and the Company in
connection with its proposed sale of a majority stake in SMCP Group to Shandong Ruyi
Group. The signing of an exclusivity agreement between the parties was announced on
31 March 2016.
BofA Merrill Lynch is currently acting as financial advisor to Huntington Bancshares Inc
in connection with Huntington and FirstMerit Corp's proposed sale of 13 bank branches
in Stark and Ashtabula counties to First Commonwealth Bank, a subsidiary of First
Commonwealth Financial Corp, which was announced on July 27, 2016.
BofA Merrill Lynch is currently acting as financial advisor to Blackstone Group LP in
connection with its proposed acquisition of Team Health Holdings Inc, which was
announced on October 31, 2016. The proposed transaction is subject to approval by
shareholders of Team Health Holdings Inc. This research report is not intended to (1)
provide voting advice, (2) serve as an endorsement of the proposed transaction, or (3)
result in the procurement, withholding or revocation of a proxy.
BofA Merrill Lynch is currently acting as financial adviser to Blackstone Real Estate
Partners Europe IV and Blackstone Real Estate Partners VIII (jointly “Blackstone”)
through its entity Vega Holdco Sarl in connection with a proposed offer to acquire a
controlling stake of D. Carnegie & Co. AB, which was announced on 15 July 2016. The
transaction will, if completed eventually result in Blackstone passing the threshold for a
mandatory offer obligation.
BofA Merrill Lynch is currently acting as financial advisor to Ares Capital Corp. in
connection with its proposed acquisition of American Capital, Ltd., which was
announced on May 23, 2016. Ares Management L.P. will provide financial support to the
transaction. The proposed transaction is subject to approval by shareholders of
American Capital ltd. and Ares Capital Corp. This research report is not intended to (1)
provide voting advice, (2) serve as an endorsement of the proposed transaction, or (3)
result in the procurement, withholding or revocation of a proxy.
2016 Future of Financials Conference | 17 November 2016 75
US - Brokers, Asset Managers, & Exchanges Coverage Cluster
Investment rating
BUY
NEUTRAL
UNDERPERFORM
RSTR
Company
BofA Merrill Lynch
ticker Bloomberg symbol Analyst
Affiliated Mgrs. AMG AMG US Michael Carrier, CFA
AllianceBernstein AB AB US Michael Carrier, CFA
BlackRock, Inc. BLK BLK US Michael Carrier, CFA
Charles Schwab Corp. SCHW SCHW US Michael Carrier, CFA
CME Group CME CME US Michael Carrier, CFA
Cohen & Steers CNS CNS US Michael Carrier, CFA
Goldman Sachs GS GS US Michael Carrier, CFA
Houlihan Lokey HLI HLI US Michael Carrier, CFA
IntercontinentalExchange ICE ICE US Michael Carrier, CFA
Invesco IVZ IVZ US Michael Carrier, CFA
KKR & Co. KKR KKR US Michael Carrier, CFA
Legg Mason LM LM US Michael Carrier, CFA
Morgan Stanley MS MS US Michael Carrier, CFA
Oaktree Capital Group OAK OAK US Michael Carrier, CFA
Old Mutual Asset Management OMAM OMAM US Michael Carrier, CFA
TD Ameritrade AMTD AMTD US Michael Carrier, CFA
Apollo Global Management APO APO US Michael Carrier, CFA
Ares Management ARES ARES US Michael Carrier, CFA
E*TRADE Financial ETFC ETFC US Michael Carrier, CFA
Franklin Resources BEN BEN US Michael Carrier, CFA
Janus Capital JNS JNS US Michael Carrier, CFA
Nasdaq Inc NDAQ NDAQ US Michael Carrier, CFA
Och-Ziff OZM OZM US Michael Carrier, CFA
T. Rowe Price TROW TROW US Michael Carrier, CFA
The Blackstone Group BX BX US Michael Carrier, CFA
The Carlyle Group CG CG US Michael Carrier, CFA
WisdomTree WETF WETF US Michael Carrier, CFA
Artisan Partners APAM APAM US Michael Carrier, CFA
CBOE Holdings CBOE CBOE US Michael Carrier, CFA
Eaton Vance EV EV US Michael Carrier, CFA
Federated Inv. FII FII US Michael Carrier, CFA
Virtus Investment Partners VRTS VRTS US Michael Carrier, CFA
Waddell & Reed WDR WDR US Michael Carrier, CFA
Bats Global Markets, Inc. BATS BATS US Michael Carrier, CFA
76 2016 Future of Financials Conference | 17 November 2016
US - Specialty Financial Services Coverage Cluster
Investment rating
BUY
NEUTRAL
UNDERPERFORM
RSTR
RVW
Company
BofA Merrill Lynch
ticker Bloomberg symbol Analyst
Apollo Commercial Real Estate Finance ARI ARI US Kenneth Bruce
Ares Commercial Real Estate Corp. ACRE ACRE US Kenneth Bruce
Blackstone Mortgage Trust Inc BXMT BXMT US Kenneth Bruce
Compass Diversified Holdings CODI CODI US Derek Hewett
Ladder Capital Corp. LADR LADR US Kenneth Bruce
MGIC Investment Corp. MTG MTG US Mihir Bhatia
New Residential Investment NRZ NRZ US Kenneth Bruce
Radian Group Inc RDN RDN US Mihir Bhatia
Starwood Property Trust, Inc. STWD STWD US Kenneth Bruce
TCP Capital Corp. TCPC TCPC US Derek Hewett
TPG Specialty Lending, Inc. TSLX TSLX US Derek Hewett
AGNC Investment Corp AGNC AGNC US Kenneth Bruce
Ally Financial Inc. ALLY ALLY US Kenneth Bruce
Amer Express AXP AXP US Kenneth Bruce
Annaly Capital NLY NLY US Kenneth Bruce
CIT Group Inc. CIT CIT US Derek Hewett
Discover Financial Services DFS DFS US Kenneth Bruce
Golub Capital BDC, Inc. GBDC GBDC US Derek Hewett
MasterCard Inc MA MA US Kenneth Bruce
PayPal PYPL PYPL US Kenneth Bruce
PennyMac Financial Services, Inc. PFSI PFSI US Kenneth Bruce
Synchrony Financial SYF SYF US Kenneth Bruce
Visa Inc. V V US Kenneth Bruce
Apollo Investment Corporation AINV AINV US Derek Hewett
Capital One COF COF US Kenneth Bruce
Credit Acceptance Corp. CACC CACC US Kenneth Bruce
Essent Group ESNT ESNT US Mihir Bhatia
Goldman Sachs BDC, Inc. GSBD GSBD US Derek Hewett
OneMain Holdings, Inc. OMF OMF US Kenneth Bruce
PennyMac Mortgage Investment Trust PMT PMT US Kenneth Bruce
Santander Consumer USA Inc. SC SC US Kenneth Bruce
American Capital, Ltd. ACAS ACAS US Derek Hewett
Ares Capital Corporation ARCC ARCC US Derek Hewett
AG Mortgage Investment Trust, Inc. MITT MITT US Kenneth Bruce
ARMOUR Residential REIT, Inc ARR ARR US Kenneth Bruce
CYS Investments, Inc CYS CYS US Kenneth Bruce
Ellington Financial LLC EFC EFC US Kenneth Bruce
Hannon Armstrong HASI HASI US Kenneth Bruce
Invesco Mortgage Capital, Inc. IVR IVR US Kenneth Bruce
Two Harbors Investment Corp. TWO TWO US Kenneth Bruce
Western Asset Mortgage Corp WMC WMC US Kenneth Bruce
2016 Future of Financials Conference | 17 November 2016 77
US - Banks Coverage Cluster
Investment rating
BUY
NEUTRAL
UNDERPERFORM
RSTR
Company
BofA Merrill Lynch
ticker Bloomberg symbol Analyst
BankUnited, Inc. BKU BKU US Ebrahim H. Poonawala
BB&T Corporation BBT BBT US Erika Najarian
Capital Bank Financial Corp. CBF CBF US Erika Najarian
Citigroup Inc. C C US Erika Najarian
Citizens Financial Group CFG CFG US Erika Najarian
East West Bancorp, Incorporated EWBC EWBC US Ebrahim H. Poonawala
FCB Financial Holdings, Inc FCB FCB US Ebrahim H. Poonawala
Great Western Bancorp Inc GWB GWB US Ebrahim H. Poonawala
Huntington Bancshares Inc. HBAN HBAN US Erika Najarian
IBERIABANK Corp IBKC IBKC US Ebrahim H. Poonawala
JPMorgan Chase & Co. JPM JPM US Erika Najarian
Key Corp KEY KEY US Erika Najarian
New York Community Bancorp NYCB NYCB US Ebrahim H. Poonawala
Signature Bank SBNY SBNY US Ebrahim H. Poonawala
SunTrust Banks, Inc. STI STI US Erika Najarian
SVB Financial Group SIVB SIVB US Ebrahim H. Poonawala
The PNC Financial Services Group, Inc. PNC PNC US Erika Najarian
UMB Financial Corporation UMBF UMBF US Ebrahim H. Poonawala
Wells Fargo & Company WFC WFC US Erika Najarian
Banc of California BANC BANC US Ebrahim H. Poonawala
Commerce Bancshares Inc. CBSH CBSH US Ebrahim H. Poonawala
Fifth Third Bank FITB FITB US Erika Najarian
First Bancorp Puerto Rico FBP FBP US Ebrahim H. Poonawala
First Hawaiian Inc. FHB FHB US Ebrahim H. Poonawala
Franklin Financial Network, Inc. FSB FSB US Ebrahim H. Poonawala
Hancock Holding HBHC HBHC US Ebrahim H. Poonawala
M&T Bank MTB MTB US Erika Najarian
Regions Financial RF RF US Erika Najarian
Synovus Financial Corp. SNV SNV US Ebrahim H. Poonawala
Texas Capital Bancshares Inc. TCBI TCBI US Ebrahim H. Poonawala
U.S. Bancorp USB USB US Erika Najarian
Associated Banc-Corp ASB ASB US Ebrahim H. Poonawala
Bank of Hawaii Corp. BOH BOH US Ebrahim H. Poonawala
Comerica Incorporated CMA CMA US Erika Najarian
Cullen/Frost Bankers Inc CFR CFR US Ebrahim H. Poonawala
First Horizon National Corp. FHN FHN US Ebrahim H. Poonawala
Prosperity Bancshares Inc PB PB US Ebrahim H. Poonawala
TCF Financial Corp. TCB TCB US Ebrahim H. Poonawala
Zions Bancorp ZION ZION US Erika Najarian
First Republic Bank FRC FRC US Erika Najarian
Disclosures
Important Disclosures
Equity Investment Rating Distribution: Banks Group (as of 30 Sep 2016)
Coverage Universe Count Percent Inv. Banking Relationships* Count Percent
Buy 81 43.55% Buy 74 91.36%
Hold 45 24.19% Hold 41 91.11%
Sell 60 32.26% Sell 56 93.33%
78 2016 Future of Financials Conference | 17 November 2016
Equity Investment Rating Distribution: Financial Services Group (as of 30 Sep 2016)
Coverage Universe Count Percent Inv. Banking Relationships* Count Percent
Buy 113 46.89% Buy 89 78.76%
Hold 66 27.39% Hold 55 83.33%
Sell 62 25.73% Sell 40 64.52%
Equity Investment Rating Distribution: Global Group (as of 30 Sep 2016)
Coverage Universe Count Percent Inv. Banking Relationships* Count Percent
Buy 1553 49.44% Buy 1130 72.76%
Hold 730 23.24% Hold 538 73.70%
Sell 858 27.32% Sell 514 59.91%
* Issuers that were investment banking clients of BofA Merrill Lynch or one of its affiliates within the past 12 months. For purposes of this Investment Rating Distribution, the coverage universe includes only stocks. A
stock rated Neutral is included as a Hold, and a stock rated Underperform is included as a Sell.
FUNDAMENTAL EQUITY OPINION KEY: Opinions include a Volatility Risk Rating, an Investment Rating and an Income Rating. VOLATILITY RISK RATINGS, indicators of potential
price fluctuation, are: A - Low, B - Medium and C - High. INVESTMENT RATINGS reflect the analyst’s assessment of a stock’s: (i) absolute total return potential and (ii)
attractiveness for investment relative to other stocks within its Coverage Cluster (defined below). There are three investment ratings: 1 - Buy stocks are expected to have a total
return of at least 10% and are the most attractive stocks in the coverage cluster; 2 - Neutral stocks are expected to remain flat or increase in value and are less attractive than
Buy rated stocks and 3 - Underperform stocks are the least attractive stocks in a coverage cluster. Analysts assign investment ratings considering, among other things, the 0-12
month total return expectation for a stock and the firm’s guidelines for ratings dispersions (shown in the table below). The current price objective for a stock should be
referenced to better understand the total return expectation at any given time. The price objective reflects the analyst’s view of the potential price appreciation (depreciation).
Investment rating Total return expectation (within 12-month period of date of initial rating) Ratings dispersion guidelines for coverage cluster*
Buy ≥ 10% ≤ 70%
Neutral ≥ 0% ≤ 30%
Underperform N/A ≥ 20%
* Ratings dispersions may vary from time to time where BofA Merrill Lynch Research believes it better reflects the investment prospects of stocks in a Coverage Cluster.
INCOME RATINGS, indicators of potential cash dividends, are: 7 - same/higher (dividend considered to be secure), 8 - same/lower (dividend not considered to be secure) and 9 - pays
no cash dividend. Coverage Cluster is comprised of stocks covered by a single analyst or two or more analysts sharing a common industry, sector, region or other classification(s). A stock’s
coverage cluster is included in the most recent BofA Merrill Lynch report referencing the stock.
Price charts for the securities referenced in this research report are available at http://pricecharts.baml.com, or call 1-800-MERRILL to have them mailed.
MLPF&S or one of its affiliates acts as a market maker for the equity securities recommended in the report: AllianceBernstein, Amer Express, Ares Management, Assoc Banc-Corp, Banc of
California, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Capital Bank Fin., Carlyle, Citigroup, Citizens Financial G, Comerica, Commerce Bancs, Cullen/Frost Bankers, East-West, Eaton
Vance, FCB Financial Holdin, Fifth Third, First Bancorp PR, First Hawaiian Inc., First Horizon, Franklin Financial N, Goldman Sachs, Great Western Bancor, Hancock, Huntington Banc, IBERIABANK,
Invesco, JP Morgan Chase, KeyCorp, KKR, Legg Mason, Morgan Stanley, New York Community B, PNC, Prosperity Bancshare, Regions Bank, Signature Bank, SunTrust Banks, SVB Financial,
Synovus, TCF, Texas Capital, U.S. Bancorp, UMB Financial Corp, Wells Fargo, Zions.
MLPF&S or an affiliate was a manager of a public offering of securities of this issuer within the last 12 months: Ares Management, Assoc Banc-Corp, Banc of California, BB&T, Citigroup, First
Hawaiian Inc., Franklin Financial N, Goldman Sachs, Huntington Banc, IBERIABANK, KKR, Legg Mason, Regions Bank, SunTrust Banks, Wells Fargo.
The issuer is or was, within the last 12 months, an investment banking client of MLPF&S and/or one or more of its affiliates: AllianceBernstein, Amer Express, Ares Management, Assoc Banc-
Corp, Banc of California, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Capital Bank Fin., Carlyle, Citigroup, Citizens Financial G, Comerica, East-West, Eaton Vance, FCB Financial Holdin,
Fifth Third, First Bancorp PR, First Hawaiian Inc., First Horizon, Franklin Financial N, Goldman Sachs, Great Western Bancor, Hancock, Huntington Banc, IBERIABANK, Invesco, JP Morgan Chase,
KeyCorp, KKR, Legg Mason, Morgan Stanley, New York Community B, PNC, Prosperity Bancshare, Regions Bank, Signature Bank, SunTrust Banks, SVB Financial, Synovus, TCF, Texas Capital, U.S.
Bancorp, UMB Financial Corp, Wells Fargo, Zions.
MLPF&S or an affiliate has received compensation from the issuer for non-investment banking services or products within the past 12 months: AllianceBernstein, Amer Express, Ares
Management, Assoc Banc-Corp, Banc of California, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Capital Bank Fin., Carlyle, Citigroup, Citizens Financial G, Comerica, Commerce Bancs,
Cullen/Frost Bankers, East-West, Eaton Vance, Fifth Third, First Bancorp PR, First Hawaiian Inc., First Horizon, Goldman Sachs, Hancock, Huntington Banc, IBERIABANK, Invesco, JP Morgan Chase,
KeyCorp, KKR, Legg Mason, Morgan Stanley, New York Community B, PNC, Regions Bank, Signature Bank, SunTrust Banks, SVB Financial, Synovus, TCF, Texas Capital, U.S. Bancorp, UMB Financial
Corp, Wells Fargo, Zions.
The issuer is or was, within the last 12 months, a non-securities business client of MLPF&S and/or one or more of its affiliates: AllianceBernstein, Amer Express, Ares Management, Assoc Banc-
Corp, Banc of California, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Capital Bank Fin., Carlyle, Citigroup, Citizens Financial G, Comerica, Commerce Bancs, Cullen/Frost Bankers, East-
West, Eaton Vance, Fifth Third, First Hawaiian Inc., First Horizon, Goldman Sachs, Hancock, Huntington Banc, Invesco, JP Morgan Chase, KeyCorp, KKR, Legg Mason, Morgan Stanley, New York
Community B, PNC, Regions Bank, Signature Bank, SunTrust Banks, SVB Financial, Synovus, TCF, Texas Capital, U.S. Bancorp, UMB Financial Corp, Wells Fargo, Zions.
MLPF&S or an affiliate has received compensation for investment banking services from this issuer within the past 12 months: AllianceBernstein, Amer Express, Ares Management, Assoc Banc-
Corp, Banc of California, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Carlyle, Citigroup, Citizens Financial G, Comerica, Eaton Vance, Fifth Third, First Bancorp PR, First Hawaiian Inc.,
Franklin Financial N, Goldman Sachs, Great Western Bancor, Hancock, Huntington Banc, IBERIABANK, Invesco, JP Morgan Chase, KeyCorp, KKR, Legg Mason, Morgan Stanley, New York
Community B, PNC, Regions Bank, Signature Bank, SunTrust Banks, Synovus, TCF, UMB Financial Corp, Wells Fargo, Zions.
MLPF&S or an affiliate expects to receive or intends to seek compensation for investment banking services from this issuer or an affiliate of the issuer within the next three months:
AllianceBernstein, Amer Express, Ares Management, Banc of California, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Capital Bank Fin., Carlyle, Citigroup, Citizens Financial G, East-
West, Eaton Vance, FCB Financial Holdin, Fifth Third, First Hawaiian Inc., First Horizon, Goldman Sachs, Great Western Bancor, Huntington Banc, IBERIABANK, Invesco, JP Morgan Chase, KeyCorp,
KKR, Legg Mason, Morgan Stanley, New York Community B, PNC, Prosperity Bancshare, Regions Bank, SunTrust Banks, SVB Financial, Synovus, Texas Capital, U.S. Bancorp, UMB Financial Corp,
Wells Fargo, Zions.
MLPF&S together with its affiliates beneficially owns one percent or more of the common stock of this issuer. If this report was issued on or after the 9th day of the month, it reflects the
ownership position on the last day of the previous month. Reports issued before the 9th day of a month reflect the ownership position at the end of the second month preceding the date of
the report: AllianceBernstein, BB&T, Blackstone Group, Carlyle, Citigroup, Citizens Financial G, Cullen/Frost Bankers, Eaton Vance, Fifth Third, Goldman Sachs, Great Western Bancor, Huntington
Banc, Invesco, JP Morgan Chase, KeyCorp, KKR, Legg Mason, Morgan Stanley, PNC, Regions Bank, SunTrust Banks, SVB Financial, TCF, U.S. Bancorp, Wells Fargo.
MLPF&S or one of its affiliates is willing to sell to, or buy from, clients the common equity of the issuer on a principal basis: AllianceBernstein, Amer Express, Ares Management, Assoc Banc-
Corp, Banc of California, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Capital Bank Fin., Carlyle, Citigroup, Citizens Financial G, Comerica, Commerce Bancs, Cullen/Frost Bankers, East-
West, Eaton Vance, FCB Financial Holdin, Fifth Third, First Bancorp PR, First Hawaiian Inc., First Horizon, Franklin Financial N, Goldman Sachs, Great Western Bancor, Hancock, Huntington Banc,
IBERIABANK, Invesco, JP Morgan Chase, KeyCorp, KKR, Legg Mason, Morgan Stanley, New York Community B, PNC, Prosperity Bancshare, Regions Bank, Signature Bank, SunTrust Banks, SVB
Financial, Synovus, TCF, Texas Capital, U.S. Bancorp, UMB Financial Corp, Wells Fargo, Zions.
The issuer is or was, within the last 12 months, a securities business client (non-investment banking) of MLPF&S and/or one or more of its affiliates: AllianceBernstein, Amer Express, Ares
Management, Assoc Banc-Corp, Bank Hawaii Corp, BankUnited, BB&T, Blackstone Group, Capital Bank Fin., Carlyle, Citigroup, Citizens Financial G, Comerica, Commerce Bancs, Cullen/Frost
Bankers, East-West, Eaton Vance, Fifth Third, First Bancorp PR, First Hawaiian Inc., First Horizon, Goldman Sachs, Great Western Bancor, Hancock, Huntington Banc, IBERIABANK, Invesco, JP
Morgan Chase, KeyCorp, KKR, Legg Mason, Morgan Stanley, New York Community B, PNC, Regions Bank, Signature Bank, SunTrust Banks, SVB Financial, Synovus, TCF, Texas Capital, U.S. Bancorp,
2016 Future of Financials Conference | 17 November 2016 79
UMB Financial Corp, Wells Fargo, Zions.
BofA Merrill Lynch Research Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America
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BofA Merrill Lynch is aware that the implementation of the ideas expressed in this report may depend upon an investor's ability to ""short"" securities or other financial instruments and that such
80 2016 Future of Financials Conference | 17 November 2016
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solicit purchases of securities or financial instruments that are Restricted or Under Review and may only solicit securities under Extended Review in accordance with firm policies.
Neither BofA Merrill Lynch nor any officer or employee of BofA Merrill Lynch accepts any liability whatsoever for any direct, indirect or consequential damages or losses arising from any use of
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2016 Future of Financials Conference | 17 November 2016 81
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82 2016 Future of Financials Conference | 17 November 2016
"
IMAGES-001-HOUSE_OVERSIGHT_012333.txt,"21
22
23
24
25

© ON DU FB wWN BP

Te eel =a oe
ON DO MO RB wWN BO

2007-04-2  TxT
Q. And just so you know, | | we're not talking
about necessarily crack cocaine. we're wondering if
anybody was taking any prescription medication?
A. I don’t know if they were taking prescription

medication. That's their problem. 1 don't know.

50
Q. And you didn't give anybody else any
prescription drugs?
A. No, no. when E was 16, I smoked pot, but no.

(Start of Tape 2.)
MR. EISENBERG: Okay, gang, back on the record.

And I assume you mean prescription medication not

for prescription purposes?

THE WITNESS: i thought you meant like for
prescription, prescribed. No, I don't know.
AGENT RICHARDS: Okay,
BY MS. BILAFONIA:

Q. But you weren't taking any anti-depressants or
pills or anything?

A. No, no, I just smoked pot. But I mostly went
there sober. I was comfortable with Jeffrey. Jeffrey
always made me feel so comfortable. I thought I was a
big girl. Iwas 18.

Q. You said that you stopped. why did you stop

Page 52

HOUSE_OVERSIGHT_012333
"
IMAGES-008-HOUSE_OVERSIGHT_024935.txt,"crisis, they were declared and (made) clear-cut. There was no need to unleash predictions in this respect,” His
Highness said.
Al Hayat Newspaper - Shafiq Al Asadi

YYour Highness, do you feel that Dubai is threatened as a result of the current crisis?

We did not at any time feel that the financial crisis is a threat. The worst is over and behind us. Since the
eruption of the crisis we did not hear of any state-owned bank or company announcing bankruptcy. None of the
economy sectors was snapped. We are currently implementing plans and programs of action to benefit from the
lessons of the crisis and ensure the recovery of the negative effects.

Al Hayat Newspaper - Shafiq Al Asadi

The recent murders that occurred in Dubai seriously raised the issue of security despite
the speed of discovery of the perpetrators of these crimes. How would you respond to the
statements that the prevention of the assassination should come first?

Of course, prevention is better than cure. To prevent killing is a very valuable act. Often, people hear about the
cure procedures, but they do not hear about the actions of prevention. Murders that took place in Dubai in
recent months, were fewer than half of one hand’s fingers -- and this is not to minimize the seriousness but just
to confirm that it is an exception and the rule is that the UAE, including Dubai, is one of the most secure and
stable countries, and this would not happen without having our authorities taking preventive measures of
utmost importance. In any case, the crime rate in the UAE, including Dubai, is one of the lowest in the world,
and we are working to remain so, and the murder of two known figures will not change the reality.

Al Hayat Newspaper - Shafiq Al Asadi

With the brunt of the global financial crisis on Dubai, we noticed the continuation of most
of the art, culture, media, sports, and cultural activities, in addition to the enormous
financial awards being bestowed by various organizations for business efficiency, among
other things. How do you explain this?

These activities were scheduled prior to the crisis, and some of them are annual events such as the Dubai World
Cup, the Arab Media Forum and Arab Journalism Award. Some new events were launched, such as the World
Poetry Festival -- but I don’t know why you are wondering about the continuation of those activities. In fact, it
would be a strange thing to cancel them. With regards to the prizes, they remain as were previously announced.
Do you suggest in your question that these awards have become a burden to Dubai? If so, I promise we are ina
good shape. All our projects under implementation have not ceased, and we are paying our loans and debts on
time, and all suppliers and contractors have begun to receive their entitlements.

Al Hayat Newspaper - Shafiq Al Asadi

Your Highness, the media is focusing currently on the large layoffs from the companies
working under the umbrella of Dubai Holding. What is the truth regarding this matter,
especially that the issue is going to reach its peak in the coming months?

The collapse of the global debt markets has pushed all the big companies worldwide to review their plans, expe
nses and strategies and urged them to restructure their managements including the human resources. “Dubai
Holding” is not an exception at all. All its companies work on a commercial basis, and it is normal to lay off the

HOUSE_OVERSIGHT_024935
"
IMAGES-009-HOUSE_OVERSIGHT_027875.txt,"— for the Jewish state Herzl had first dreamed of 50 years before — had been
won. A huge bonfire blazed in front of the bakery. All around us the grown-ups
were singing and dancing in celebration.

On the Arab side, there was no rejoicing. Every one of the Arab delegations
at the UN voted against partition, rejecting a Jewish state even if it was created
along with a Palestinian Arab one. Violence erupted the next day. An attack on
a bus near Lydda, near the road up to Jerusalem, left six Jews dead. Similar
attacks occurred around the country. Shooting broke out in mixed Arab-and-
Jewish towns and cities: Jaffa on the southern edge of Tel Aviv. Safed, Tiberias
and Haifa in the north, and in Jerusalem.

I followed all this with curiosity and trepidation through my halting attempts
to read Davar le Yeladim, the weekly children’s edition of the Labour Zionist
newspaper Davar. We children felt an additional connection with what was
going on. One of our Dror housemates, a boy named Giora Ros, had left the
year before when his father took a job in Jerusalem. As the battle for the city
raged through the end of 1947 and into 1948, its besieged Jewish residents
fought for their lives. We sent our friend packages of clothing and food, which
we saved up by eating only half of an egg at breakfast and smaller portions at
dinner.

The mood darkened further at the end of January 1948, four months before the
British departed. A cluster of settlements known as Gush Etzion, south of
Jerusalem near the hills of Bethlehem, also came under siege. Around midnight
on January 15, a unit of Haganah youngsters set off on foot to try to break
through. They became known as “The 35”. Marching through the night from
Jerusalem, they had made it only within a couple of miles of Gush Etzion when
they were surrounded and attacked by local Arabs. By late afternoon, all of
them were dead. When the British authorities recovered their bodies, they found
that the enemy had not simply killed them. All of the bodies had been battered
and broken. Rumors spread that in some cases, the dead men’s genitals had
been cut off and shoved into their mouths. Since I was still a few weeks short of
my sixth birthday, I was spared that particular detail. But not the sense of horror
over what had happened, nor the central message: the lengths and depths to
which the Arabs of Palestine seemed ready to go in their fight against us.
“Hit’alelu bagufot!” was the only slightly sanitized account we children were
given. “They mutilated the corpses!”

Even after the partition vote, statehood was not a given. In the weeks before
the British left, two senior Americans —the ambassador to the UN and Secretary

27
HOUSE_OVERSIGHT_027875
"
IMAGES-008-HOUSE_OVERSIGHT_025395.txt,"Is Read: No
Is Invitation: No

GUID: DB00464D-21E7-4C3B-BB44-560D321E6108

Message: the football analogy , helps with the anonymous op ed. imagine if a team
member thought they would work against tom brady strategy. fans would go crazy.
and like a football team they call each other dumbfuck in the locker room but pull

together on the field

Sender: e:jeeitunes@gmail.com

Time: 09/14/18 04:44:33 AM (558618273)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 7824E779-42FF-4940-B732-7D22D37DC3B5

Message: however ill stick to economic advice. you might also point out that
saudi sovereign wealth fund needed to borrow money. Vlis they mistakenly and
childishly think that the fact that they can borrow 10 billion dollars at not a very
good rate showed strength. but in fact, like their fade in the tesla mess , illustrates
they have no cash. : I think masa is japanese's for madoff

Sender: e:jeeitunes@gmail.com

Time: 09/14/18 05:00:46 AM (558619246)
Flags: 1085445
Is Read: No

Is Invitation: No

GUID: E1C4310B-FFD9-4F19-A312-EAE01D5E351A

Message: Saudi Arabia set to enter the Guinness Book of Records with the display of the
largest number of fireworks and unfurling of the largest national flag to mark the
celebrations of the 88thNational Day. this is the mentality of other countries

Sender: e:jeeitunes@gmail.com

Time: 09/14/18 05:26:12 AM (558620772)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: E66EDCD9-CEB8-4FF9-B056-BBCE2DC8F5DF

Message: the other two areas. 1. dems scream trump deregulating where mnuchin has
instituted the stricter KYC rules in history. The U S leads. how many working
class americans would put their money in Switzerland today where the banks charge YOU

75 basis points to keep it there. so many bad actors. 2, crypto needs to be
thought of similar to the internet. intl agreements . coordinated understandings
otherwise it is a ponzi scheme outside of the law

Sender: e:jeeitunes@gmail.com
Time: 09/14/18 02:17:47 PM (558652667)
Flags: 1085445

Is Read: No

HOUSE_OVERSIGHT_025395
"
IMAGES-001-HOUSE_OVERSIGHT_012455.txt,"—

14
15
16
17
18
19
20
21
22
23
24
25

—_

&- WwW DY

~0929104 . TXT
70

that you had to be 18 to have a MySpace.

Q. So you lied about your age so you could
post on MySpace, right?

A. Yes.

Q. Let's go back to the top one on this page,

33-01.

Q. Now let's go back to the one that you were
pointing to before on this page, where it says your age
is 18 and you lied about your age to post MySpace, okay?

A. Uh-huh, yes.

Q. Atl right. Why did you finally put your

true age on your MySpace profile four days before you

MR. LEOPOLD: If you don't understand, ask
him to ask the question again.

MR. TEIN: Don't coach.

THE WITNESS: | don’t know which MySpace

71
you're talking about.
BY MR. TEIN:
Q. The MySpace page that you're just pointing

to, where it says you were 18.
Page 60

HOUSE_OVERSIGHT_012455
"
IMAGES-011-HOUSE_OVERSIGHT_031213.txt,"From: BARBRO EHNBOM (qn

Sent: 8/21/2012 9:12:11 AM
To: jeevacation@gmail.com
Subject: Re: Program & Attendee list

Attachments: Q2.jpg

Importance: — High

She is the one! Now SALSS 4 days...will get back to you next week...

Kram BE.

Barbro C. Ehnbom

Chairman, Swedish-American Life Science Summit

New York, N.Y. 10022

From: Jeffrey Epstein <jeevacation@gmail.com>
To: Barbro C Ehnbom

Sent: Mon, Aug 20, 2012 2:32 pm

Subject: Re: Program & Attendee list

who is you r wife choice this year?

On Sat, Aug 18, 2012 at 12:11 PM, Barbro C Ehnbom rote:
Dear Jeffrey,

lam sorry | did not call back Yesterday-| was exhausted from a crazy week and fell asleep

as soon as | came home! Anyway, here is the full program and attendee list attached, this

is the Globalization Summit | invited Bill Clinton to when | met him in Stockholm last Summer-

But he is a bit busy | gather!

Anyway, hope J got hold of you re search service? Also, | did see your mail

about possibly coming here end of September-however, | am supposedly arranging a fund-

raiser for Congress Woman Diana deGette of Colorado on Sept 27 in NYC; she is the only one with a scientific agenda
and she is just super-if anything | am hoping on your involvement?

How about going to Stockholm mid or end november..albeit a bit dark and maybe cold..?

Let me know what you think!

Also, | just heard from my friend Jeff Kriendler in Miami and guess who was just walking in there -our friend Goldsamt!
First prize for perseverance!

Also, Sofia and the prince is on every magazine here, | think it is wonderful!

Marcus has two big concerts in Stockholm this coming week. Me - SALSS!

KRAM
BE

Barbro C. Ehnbom
Sent from iPad

Vidarebefordrat brev:
Fran: >
Datum: August 18, 2012 8:44:29 AM GMT+02:00

Till: Barbro Ennbom
Amne: Program & Attendee list

HOUSE_OVERSIGHT_031213
"
IMAGES-006-HOUSE_OVERSIGHT_021299.txt,"between lower-level physical or
homeostatic challenges and higher-level
psychological and social stressors. Basic
homeostatic reflexes, reflexes that keep
in balance various critical bodily
processes such as blood pressure, body
temperature, and blood sugar, are largely
hard-wired and organized at relatively
low levels of the nervous system, such as
the brainstem and spinal cord. An
example comes from autonomic nervous
system regulation of cardiovascular
function. The sympathetic division of the
autonomic nervous system is an
activational, energy mobilization system
that comes into play in the face of
adaptive challenges. Sympathetic
activation increases heart rate and results
in peripheral vasoconstriction, both of
which tend to increase blood pressure. In
contrast, the parasympathetic division is
an energy-conserving, deactivational
brake that generally opposes the
sympathetic system, yielding decreases
in heart rate and blood pressure. The
baroreceptor heart rate reflex is a
homeostatic reflex that functions to
maintain blood pressure within
homeostatic limits. Unique pressure
sensitive receptors in the heart and large
arteries detect changes in blood pressure,
and a decrease in blood pressure triggers
the baroreceptor heart rate reflex,
increasing sympathetic activity and
reciprocally decreasing parasympathetic
tone. Both effects serve to increase heart
rate (and thus cardiac output) and
constrict arteries throughout the body,
thereby restoring the pressure
perturbation. In basic reflexes, the two
autonomic branches are generally
regulated in this reciprocal fashion, and
thus synergistically amplify the effects
of the other. This is a useful mechanism
to adjust to severe adaptive challenges

Page |53

such as a decrease in blood pressure and
compromised circulation.

Although this reciprocal mode of
regulation of the autonomic branches has
considerable utility, and is characteristic
of basic reflex organizations, it may not
always be optimal. The autonomic
nervous system provides the basic
support for action and adjustment, and
although it figures prominently in
survival related functions, it also
provides the basic visceral support for
emotional and cognitive operations as
well. It has long been recognized that
cognitively demanding tasks elicit
greater autonomic activation than is
needed to meet the metabolic demands
of the tasks. Moreover, ascending neural
signals to the brain from visceral organs
such as the heart and blood vessels serve
to modulate and regulate cognitive
activities (5). The notable early
psychologist, William James, proposed
that emotion is the experience of
somatovisceral sensory feedback. James
suggested that we do not run from the
bear because we are afraid, but rather we
are afraid because we run from the bear
(6). Although the strong form of this
theory has not been supported, it remains
the case that ascending visceral signals
can modulate learning, attention, and
cortical/cognitive processing (5). The
autonomic nervous system is not only
for lower level reflexive adjustments.
Indeed, it is increasingly recognized that
there is a highly complex, even intricate,
interaction between the autonomic
nervous system and higher level brain
structures (e.g., frontal cortex) involved
in human behavior. Importantly, these
circuits and their interactions with the
autonomic nervous system are highly
flexible and are not constrained by the
simple organization rules that govern
basal functions such as homeostasis and

HOUSE_OVERSIGHT_021299
"
IMAGES-010-HOUSE_OVERSIGHT_029015.txt,"From: HS

Sent: 10/2/2016 12:34:29 PM

To: jeffrey E. [jeevacation@gmail.com]

cc: sof ce a
Subject: Re: Trump

Importance: — High
What number r u at?
Sent from my iPhone

Please direct all scheduling inquiries to my office at: PO

Follow me on twitter @lhsummers
www.larrysummers.com

On Oct 2, 2016, at 8:32 AM, jeffrey E. <jeevacation@gmail.com> wrote:

Yes

On Sunday, 2 October 2016, LHS <> wrote:

Yes. Let's briefly discuss. Can u have her write me.

Sent from my iPhone

Please direct all scheduling inquiries to my office at: Pe

Follow me on twitter @lhsummers
www.larrysummers.com

On Oct 2, 2016, at 2:32 AM, jeffrey E. <jeevacation@gmail.com> wrote:

can somoene from the development office show rothschild around harvard sat.?

On Sun, Oct 2, 2016 at 2:32 AM, LHS <> wrote:

Jeff
How plausible is idea that trump is real cocaine user?
L

Sent from my iPhone

Please direct all scheduling inquiries to my office ' i

Follow me on twitter @lhsummers
www.larrysummers.com

HOUSE_OVERSIGHT_029015
"
TEXT-001-HOUSE_OVERSIGHT_029094.txt,"From: Joi Ito 
Sent: 6/1/2017 12:12:02 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
: - ) 
> On Jun 1, 2017, at 6:00 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
> • when i told reid that obama just wanted to make money, he thought i was being cynical, as he was 
sure that doing good was going to be the goal 
> • https://www.nytimes.com/2017/05/31/us/obama-buys-house-washington-
kalorama.html?module=WatchingPortal&region=c-column-middle-span-
region&pgType=Homepage&action=click&mediaId=thumb_square&state=standard&contentPlacement=6&version=intern 
al&contentCollection=www.nytimes.com&contentId=https%3A%2F%2Fwww.nytimes.com%2F2017%2F05%2F31%2Fus%2Fobam 
a-buys-house-washington-kalorama.html&eventName=Watching-article-click 
please note 
> • The information contained in this communication is 
> confidential, may be attorney-client privileged, may 
> constitute inside information, and is intended only for 
> the use of the addressee. It is the property of 
> JEE 
> Unauthorized use, disclosure or copying of this 
> communication or any part thereof is strictly prohibited 
> and may be unlawful. If you have received this 
> communication in error, please notify us immediately by 
> return e-mail or by e-mail to jeevacation@gmail.com, and 
> destroy this communication and all copies thereof, 
> including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029094 
"
IMAGES-005-HOUSE_OVERSIGHT_018878.txt,"7

Bhjossoe = - ICMIPRO1
19:21:34 FD-192 Page 3

Title and Character of Case:
EPSTEIN, JEFFREY
Date Property Acquired: Source from which Property Acquired:
beT.[ b6

08/28/2006 345 SOUTH COUNTY ROAD b7c
PALM BEACH FL 33480

Anticipated Disposition: Acquired = Case Adent

Description of Property: Date Entered

1B 2

31) ONE GREEN MASSAGE TABLE.............005 PBPDOS5-1024 (31)

32) ONE THRIFTY RENTAL AGREEMENT.........00c eee eeeeceee (32)

33) NOTE FROM[L kw ccc eee eee tees (33)

34) ELEVEN CDS - OFFICE ....... ccc cece cee e ee eet e ee eee (34)

35) MESSAGE BOOK - GUEST HOUSE...........0c cece eee eeee (49)

(36) ONE MESSAGE BOOK. ...... ccc cece cece cece eee cece eeee (50)

(37) TWO COMPACT FLASH CARDS......... 2.0 c cece c cece eee (51)

(38) SIX CDS - GUEST HOUSE.......... ccc eee eee eee eee (52)

(39) POWER CORD TO CPU - GUEST HOUSE............0.0000% (54)

(40) CPU - OFFICE....... wee ee eee eee eee eee eees (55)

41) ONE POWER CORD TO CPU - OFFICE......... cece eee eens (56)

42) THREE CDS - OFFICE........ ccc cee eee cee eee ee eens (57)

43) ONE PEACH MASSAGE TABLE......... ccc cee cece eee e eee (58)

44) ONE GREEN FRAMED PHOTO (59)

Barcode: Location: 09/05/2006

Case Number: 31E-MM-108062
Owning Office: MIAMI

3/E-MN 210 £ 062.43 2

HOUSE_OVERSIGHT_018878
"
IMAGES-002-HOUSE_OVERSIGHT_012835.txt,"means that maturation eventually legitimizes individuals as potential evildoers. It does not, however,
cause a shift in our sense of evilrecipients. Willie Bosket may not have been an evildoer, but he certainly
could have been an evilrecipient.

What about psychopaths, people like Charles Manson and Ted Bundy? Pop culture tells us that
they are depraved, heinous, immoral monsters, deliberately causing harm to others, and often with a
delicious twinkle in their eye. But what if I told you that several recent studies of psychopaths indicate
that they know the difference between right and wrong? When judging the moral permissibility of
different actions, such as harming one person to save the lives of many, psychopaths’ judgments are often
like yours and mine, nuanced, varying depending upon the outcomes and the means by which they are
achieved. This is a rational, albeit largely unconscious understanding of right and wrong. This makes
psychopaths nothing like earthquakes, viruses, chimpanzees, or young children. It also means that they
don’t have bad moral principles, but rather, ones that are like yours and mine. What if I further told you
that before they develop into fully licensed-to-kill or extort psychopaths, many have an early history of
torturing pets and bullying other kids. What if I further told you that when they cooked the cat in the
microwave or bloodied little Johnny’s face with their fist, that the consequences of their actions left them
cold —no guilt, remorse, or shame. Nothing. And what if I told you that these people are born with a
different brain chemistry and structure than you or I, leading to poor self-control and an emotionally
callous view of the world? If this medical report 1s correct, and I believe the scientific evidence supports
it, then psychopaths lack the ability to see alternative options and act on them. They also lack the
resources for self-control. Given this evidence, psychopaths are not evil at all, though the consequences
of their actions are often excessively heinous. Given this evidence, not one member of our initial list
would count as evildoers, though chimpanzees, children and psychopaths would all count as potential
evilrecipients.

What this discussion highlights is that our perception of evildoers and evilrecipients is influenced
by our sense of what it means to be human. Though evildoers and evilreceivers overlap in their capacities
to think and feel, there are differences, captured by Aristotle’s distinction between moral agents — those
who have responsibility for others well being —and moral patients — those who deserve moral
consideration and care from moral agents. The distinction gains scientific credibility thanks to a set of
studies by the American psychologists Kurt Gray and Daniel Wegner. In one experiment, a large internet
population compared the qualities of different things, including humans at different stages of
development — fetus, baby, child, and adult — an adult human in a vegetative state, a dead human,
nonhuman animals — frog, pet dog, chimpanzee — God, and a socially savvy robot. Subjects judged
different pairings of these things on a wide range of dimensions, including which was more likely to

develop a unique personality, feel embarrassed, suffer pain, distinguish right from wrong, experience

Hauser Chapter 3. Ravages of denial 89

HOUSE_OVERSIGHT_012835
"
TEXT-002-HOUSE_OVERSIGHT_033274.txt,"﻿From: jeevacation@gmail.com
To: jeevacation@gmail.com; 
Subject: Alert - trump im palm
Sent: 2/16/2018 2:19:27 PM

February 16, 2018 9:00 AM : trump im palm 
"
IMAGES-010-HOUSE_OVERSIGHT_029001.txt,"Raising $2.4m at $10m valuation to scale

¢ Required Investment is $2.4m for 3 Years (S800k per year) or Minimum
Ticket S1M.
¢ Use of Proceeds
¢ Refine sentiment analysis system — currently 5% false positives
¢ Hire a PR Firm
¢ Marketing and Sales (American and UK market)
¢ Office Space in San Francisco and London

HOUSE_OVERSIGHT_029001
"
IMAGES-002-HOUSE_OVERSIGHT_014288.txt,"Page 38

that she was a daughter of one of his friends.

Q. But it was possible she was the school --
is it possible that the school she referred to was a
high school?

A. Yes.

Q. And what happened at that dinner, if
anything?

A. He did some magic tricks.

Q. Did you observe David Copperfield to be a
friend of Jeffrey Epstein's?

A. Yes.

Q. Did Copperfield ever discuss Jeffrey's

involvement with young girls with you?

A. He questioned me if I was aware that girls

were getting paid to find other girls.

Q. Did he tell you any of the specifics of
Eat?

A. No.

Q. Did he say whether they were teenagers or
anything along those lines?

A. He did not.

MS. MENNINGER: Objection, leading, calls

for hearsay.

BY MS. McCAWLEY:

or Did you ever hear or observe Jeffrey

MAGNA®

LEGAL SERVICES

HOUSE_OVERSIGHT_014288
"
IMAGES-002-HOUSE_OVERSIGHT_012821.txt,"Unsurprisingly, Democrats expressed more pleasure from reading about Bush’s bicycle accident,
whereas Republicans were more joyful over Kerry’s bizarre space suit. Surprisingly, Democrats also
expressed pleasure from reading about the economic downturn, and more pleasure than the Republicans
who were more likely to express negative feelings about this situation. Thus, despite the fact that the
economic downturn hurt everyone, the Democrats expressed pleasure over the added damage this
inflicted on the Republicans —— who they held responsible — and conversely, the added benefit it
brought to the Democrats who could wag their fingers.

In a second study, Smith found that Democrats experienced more schadenfreude than
Republicans over the number of casualties reported out of the Iraq war, even though Iraqis were certainly
not preferentially targeting Republicans. The pleasure they experienced was entirely driven by the fact
that this was a war sponsored by a Republican government, and thus, the fatalities could be blamed on the
Republicans. From a Democrat’s perspective, even though everyone loses when soldiers die in war, it is a
bigger loss for Republicans, and thus, a bigger gain for Democrats. With schadenfreude, it is all about
comparative shopping. It is all about satisfying our desires relative to others.

As noted above, schadenfreude appears to emerge strongly when an individual’s misfortune is
deserved. To explore what is happening in the brain when such pleasure is experienced, and the
situations that might trigger it, the German cognitive neuroscientist Tania Singer set up a study involving
healthy men and women. In the first phase, subjects played a bargaining game for money against an
unfamiliar partner; prior to the game, and unbeknownst to the subject, Singer set things up so that the
partner played cither fairly or unfairly. After the game, each subject entered a scanner, and watched their
partner receive a painful shock to the hand.

Predictably, Singer discovered that both men and women liked the fair players better than the
unfair players, and showed more empathy to fair players when they were shocked. Proof of empathy was
read off the images of brain activation, especially the brain circuitry known to be involved in pain
empathy, and mentioned earlier in my discussion of Joan Chiao’s work on social hierarchies: the insula
and anterior cingulate. Unpredictably, Singer discovered that the level of activity in this pain empathy
circuitry was reduced when men — but not women — saw unfair players receive pain. She also observed
that in men — but not women — there was increased activity in the nucleus accumbens — an area
mentioned earlier on that, in rats, monkeys and humans is consistently associated with the experience of
reward and liking. The more individual men desired revenge for an unfair offer, the more activity they
showed in this reward area.

Singer’s findings are joined by many others showing that the nucleus accumbens, together with
other reward areas, are activated in a wide variety of situations in which we gain from others’ pain. But

because these same areas also respond to non-social, non-comparative experiences, such as eating, we

Hauser Chapter 2. Runaway desire 7d

HOUSE_OVERSIGHT_012821
"
IMAGES-001-HOUSE_OVERSIGHT_011148.txt,"Summarizing,

I(K,,),, optimum = Y optimum = C, , atthe collective scale, (A9.5)

if free growth theory is correct.

Ex ante investment and output mean at cost. They are what we pay for. The practical
importance of (A9.5) is as a guide to macroeconomic policy. It says that we cannot
grow collectively by attempting to produce more than we consume. We do best by

paying to produce just as much, and taking free growth as it comes.

(A9.5) does not say that we cannot influence the growth tides. It says that we cannot
do so by thrift. It seems to be me that growth theory lies somewhere in the province
of historicism and institutionalism rather than in the mechanics of supply and
demand. Judging from history, old and new, growth seems to find traction in free
markets where laws and customs welcome it. These are institutions shaped by

history.
Free growth theory and its equations predict at the collective scale only. Clearly the
Practical Pig can save out of the dissaving of his feckless brothers, while the

individual life cycle is largely a story of each generation giving to the next.

Adjusting the Ben-Porath Model

Human capital begins at zero value at cohort age 0. Invested consumption C, starts

now, and is immediately compounded by self-invested work of the young. This
means all work before pay begins at age of adulthood and independence A. As
human depreciation is expected to be recovered in pay, that flow too is put off until
age A. Then cohort present cost at any earlier age x, as defined in (A2.10), is

HOx)=[C(zJePOP dz, if x<=A, (A10.1)

APPENDIX A: The Argument in Notation 3/7/16 2?

HOUSE_OVERSIGHT_011148
"
TEXT-002-HOUSE_OVERSIGHT_033260.txt,"From: Richard Kahn 
Sent: 11/30/2017 10:28:42 AM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Trump 'made comment about p**sy years before tape' I Daily Mail Online 
Importance: High 
http://www.dailymail.co.uk/news/article-5131173/Trump-comment-p-sy-years-tape.html 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue, 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033260 
"
IMAGES-003-HOUSE_OVERSIGHT_014819.txt,"Case 1:15-cv-07433-RWS Document 751-8 Filed 03/17/17 Page 1of1

REDACTED
EXHIBIT H

HOUSE_OVERSIGHT_014819
"
IMAGES-008-HOUSE_OVERSIGHT_025381.txt,"Time: 09/09/18 03:32:28 AM

Flags: 1085445
Ts Read: No
Is Invitation: No

GUID: 682C2B8F-FF38-4549-96

(558181948)

FB-8FF181938071

Message: 5?

09/09/18 03:32:33 AM

Europe or 5 ny?

Time:
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 6B772141-EBE9-4474-84

(558181953)

C8-A8BFA973CCBC

Excellent

Messag

Sender: e:jeeitunes@gmail.c

Time: 09/09/18 03:52:13 AM
Flags: 1085445

Is Read: No

Is Invitation: No

GUID:

om

(558183133)

06564620-68DD-4994-85BD-A988F512E1DF

Message: Gydérgy Schwartz.
under fara.
media co.

09/09/18 03:52:51 AM

and make that th

Time:
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: OD7860C0-1F62-4D40-Bé

NGOs were carefully structured. -

real name of George Soros

umbrella

xemption

(558183171)

40-966418D33DA

Message: On it

Sender: e:jeeitunes@gmail.c

Time: 09/09/18 03:53:56 AM
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: D29B249B-B80B-4147-96

Gl

om

(558183236)

4F-652BE67E938F

Messag The media co. has

Sender: e:jeeitunes@gmail.c

Time: 09/09/18 07:32:48 AM

lots of advantages.

om

(558196368)

Was careful not to register

My reading is that you can forma

Source privilege etc

HOUSE_OVERSIGHT_025381
"
IMAGES-001-HOUSE_OVERSIGHT_012441.txt,"18
19
20
21
22
23
24
25

—_

oro Oo Oa NN OD oO Fe WwW NY

~0929104. TXT
answer the question, because any of those

conversations involve her counsel.
MR. TEIN: Certify that.
MR. LEOPOLD: Please.

BY MR. TEIN:
Q. Now, Saige, you lied to get out of this

deposition, didn't you?

54

A. No, sir.

Q. You didn't want to come to court today and
tell the story that you had told to the police under
oath, did you?

MR. LEOPOLD: Object to the form of the
question. Lack of foundation, predicate.
THE WITNESS: No. | have no problem coming
here and talking to you.
BY MR. TEIN:

Q. And to avoid getting served with a lawful
subpoena, you lied about your name, didn't you?

A. No.

Q. And in fact, just lying yourself wasn't
enough, was it?

MR. LEOPOLD: Objects to the form of the
question.

Don't answer it. It's not a question.

Object to the form of the question. Lack
of foundation.

MR. TEIN: Are you instructing her not to
answer?

MR. LEOPOLD: | am.
Page 46

HOUSE_OVERSIGHT_012441
"
IMAGES-011-HOUSE_OVERSIGHT_031207.txt,"From: steven hoffenbero (ii i

Subject: Fwd: JUDGE SWEET ALLOWING STEVEN HOFFENBERG TO TALK WITH THE
TOWERS VICTIMS TO EXPLAIN THE VICTIMS SUIT FILING AGAINST JEFF EPSTEIN
Date: July 13, 2016 at 4:45:18 AM PDT

Steven J. Hoffenberg
New York Post Publishing INC.
CEO

WHAM INC THE PUBLIC COMPANY OWNS THE BELOW OPERATIONS

TOWERSINVESTORS.COM
CEO

SEE
WWwW.POST PUBLISHING.BUZZ THE JESUS CHRIST ON LINE GODs WORD NEWSPAPER

MR HOFFENBERG ONLINE NEWSPAPER
PUBLICSPEAKINGWALLSTREET.COM

Begin forwarded message:

From: steven hoffenberg
Date: July 13, 2016 at 6:26:21 AM EDT
To: ""Gary H. Baise"" (ii iii

Ce: Alan Fraade >

Subject: JUDGE SWEET ALLOWING STEVEN

HOFFENBERG TO TALK WITH THE TOWERS VICTIMS TO EXPLAIN THE VICTIMS SUI
T FILING AGAINST JEFF EPSTEIN

SIR

PRESIDENT TRUMP WILL KNOW THAT GARY BAISE IS WORKING ON THE NEEDED FOOD
POLICY POINTS OF FACT WITH THE FOOD INDUSTRY LEADERS .

PRESIDENT TRUMP UNDERSTANDS THAT THE FOOD INDUSTRY IS VITAL TO THE TRUMP
WHITE HOUSE POLICY .

WHAT IS NEEDED IN THE PRESENTATION TO PRESIDENT DONALD TRUMP WILL BE DON
E BY OUR TEAM THAT NOW HAS THE KEY JOB AT THE STEVEN

HOFFENBERG TRUMP SUPER PAC IN BUYING OVER $ 1 BILLION DOLLARS IN ADS & T

HE HIRING OF THE BUS PROJECT TO GET OUT THE VOTE IN EVERY POOR AREA IN THE
USA.

THE POOR VOTER OVER 120 MILLION VOTERS THAT WERE DEMS ARE NOW VOTING FO
R PRESIDENT TRUMP ON NOV 8 2016.

T V EXPERTS DONT REPORT THE ABOVE DEMS POOR FOLKS THAT ARE VOTING FOR PR

HOUSE_OVERSIGHT_031207
"
IMAGES-011-HOUSE_OVERSIGHT_031561.txt,"B. Jeannie Rhee, hand-picked by Mueller from Mueller's own firm, was actually Clinton's lawyer in the email
investigation. Now how does that look. She also is a bully and thinks she is a real tough guy and | don't want that kind
of character around. | also have an ineffective assistance of counsel case against her for a client in a $100 million
earnings management fraud case in which she was way over her head.

C. Greg Andres was another bully who replaced Weissmann in the EDNY. He withheld evidence terribly in his cases,
regularly threatened others, and accused a defendant of putting out a contract on him when he knew it was a completely
bogus claim, but gave him the publicity he craved. He is 100% in the pro-Clinton, anti-Trump camp. President Obama
gave his wife a federal judgeship on the SDNY

and on and on.

| don't personally believe Russia affected the election at all; but | certainly am not qualified to say. | do know that we
have meddled in other countries' elections as a matter of policy forever. But the bottom line is, if there is to be an
investigation, just play it straight up. | am friends for a long time with the IG. If they had picked him to head up the team,
| would not be a weekly guest on Hannity tv and radio (| never would have been asked), as | Know he would pick a team
of honest folks from across the spectrum.

From: jeffrey E. <jeevacation@gmail.com>
To: David Schoen >
Sent: Wed, Jul 4, 2018 8:10 am

Subject: Re: Hello

is itoverblown. ? all mob prosecutors have strong feelings towards their targets. | recall many that told stories of
how they despised gotti etc. why is stryok different ?

On Wed, Jul 4, 2018 at 7:51 AM, <> wrote:

| am obsessed with prosecutorial and FBI misconduct wherever it rears it ugly head and iam committed to doing what i
can to fight it whether for my death penalty clients or a klansman. Lots of wrongdoing here and we all lose when the
system breaks down.

| assume you were just flipping the channels.

Hope you are doing well. | see they never miss an opportunity to try to drag you in - saw an article the other day asking
how you missed the #metoo press and tying you to trump. Didn't mention much of all you have been put through
already. | hope the cases are all behind you now. | would have liked to have helped; but i guess you and your team
decided on a different direction. Whatever works best.

jeevacation@gmail.com

judge jeannie?

On Mon, Apr 16, 2018 at 9:54 PM, <> wrote:

Just checking in to see how you are getting along these days. | hope all the litigation is well behind you and things are
going well

Take care.
David
David |. Schoen

please note

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

HOUSE_OVERSIGHT_031561
"
IMAGES-004-HOUSE_OVERSIGHT_017870.txt,"IN RE TERRORIST ATTACKS ON SEPTEMBER 11, 2001

805

Cite as 349 F.Supp.2d 765 (S.D.N.Y. 2005)

within the state ....” N.Y. C.P.L.R.
§ 302(a)(2) (McKinney 2002). Courts have
defined “agent” to include a defendant’s
co-conspirators “under certain circum-
stances.” Chrysler Capital Corp. v. Cen-
tury Power Corp., T78 F.Supp. 1260, 1266
(S.D.N.Y.1991) (citing Lehigh Valley In-
dus., Inc. v. Byrenbaum, 389 F.Supp. 798,
806-07 (S.D.N.Y.1975), affd, 527 F.2d 87
(2d Cir.1975)). Thus, “acts committed in
New York by the co-conspirator of an out-
of-state defendant pursuant to a conspira-
cy may subject the out-of-state defendant
to jurisdiction under C.P.L.R. 302(a)(2).”
Chrysler Capital Corp. 778 F.Supp. at
1266.

[38-40] Plaintiffs are not required to
establish the existence of a “formal agency
relationship” between the Defendants and
their putative co-conspirators. Daventree
Lid. v. Republic of Azerbayan, 349
F.Supp.2d 736, at 759, 2004 WL 2997881,
at *18 (S.D.N.Y.2004). Yet, “the bland
assertion of conspiracy ... is insufficient
to establish jurisdiction for the purposes of
section 302(a)(2).” Lehigh Valley Indus.
Inc., 527 F.2d at 93-94; Lamarr v. Klein,
35 A.D.2d 248, 315 N.Y.S.2d 695, 697-98
(st Dep’t 1970) (holding that conclusory
statements about defendant’s role in con-
spiracy were insufficient to establish juris-
diction under the co-conspirator doctrine).
To establish personal jurisdiction on a con-
spiracy theory, Plaintiffs must make a pri-
ma facie showing of conspiracy, allege spe-
cific facts warranting the inference that
the defendant was a member of the con-
spiracy, and show that the defendant’s co-
conspirator committed a tort in New York.
Chrysler Capital Corp. 778 F.Supp. at
1266 (citing Singer v. Bell, 585 F.Supp.
300, 302 (S.D.N.Y.1984)).

[41] “To plead a valid cause of action
for conspiracy under New York law, a
plaintiff must allege the primary tort and
four elements: ‘(a) a corrupt agreement

between two or more persons, (b) an overt
act in furtherance of the agreement, (c) the
parties’ intentional participation in the fur-
therance of a plan or purpose, and (d) the
resulting damage or injury.” Chrysler
Capital Corp. T78 F.Supp. at 1267 (quoting
Kashi v. Gratsos, 790 F.2d 1050, 1055 (2d
Cir.1986)). To warrant the inference that
a defendant was a member of the conspira-
cy, Plaintiffs must show that “(a) the de-
fendant had an awareness of the effects in
New York of its activity; (b) the activity of
the co-conspirators in New York was to
the benefit of the out-of-state conspirators;
and (c) the co-conspirators acting in New
York acted ‘at the direction or under the
control’ or ‘at the request of or on behalf
of the out-of-state defendant.” Chrysler
Capital Corp. 778 F.Supp. at 1268-69
(quoting Dixon v. Mack, 507 F.Supp. 345,
350 (S.D.N.Y.1980)).

“Whether an alleged conspiracy ... ex-
isted is ‘a mixed question of law and
fact.’” Daventree, 349 F.Supp.2d 736, at
760, 2004 WL 2997881, at *19 (quoting
Mario Valente Collezioni: Ltd. v. Confez-
ont Semeraro Paolo, S.R.L., 264 F.3d 32,
36 (2d Cir.2001)). Accordingly, the Court
cannot accept “conclusory assertions on
those issues; instead it must resolve such
questions based upon an independent ex-
amination of the factual allegations while
mindful of its duty to draw all factual
inferences in plaintiffs’ favor.” Jd. (reject-
ing conspiracy theory of personal jurisdic-
tion without permitting jurisdictional dis-
covery).

[42] Plaintiffs claim that all Defen-
dants in these actions conspired with the al
Qaeda terrorists to perpetrate the attacks
of September 11. See, eg., Ashton Com-
plaint 1296; Federal Complaint 11 66, 72-
74. Without supporting factual allega-
tions, such a statement is insufficient to
establish an agency relationship. Lehigh
Valley Indus. Inc., 527 F.2d at 93-94; Da-
ventree, 349 F.Supp.2d 736 at 762-63, 2004

HOUSE_OVERSIGHT_017870
"
IMAGES-001-HOUSE_OVERSIGHT_012327.txt,"Oo ON A mW BB wn pe

Pom bf
YR Oo

13

44

A. That I know of. That I know of, yeah.

Q. okay. Did you ever tell any of the girls that

they would be going

I told them we were going to go Jeffrey's
house and it's going to be a topless massage pretty much.
Anything you don't want to do, you don't have to do and
it's $200, badda-bing, badda-boom. You make $200 in 30
minutes.

Q.

Q. No one called you and said, I think that you
should call --

Q. we just have phone calls that seem to

contradict what you're telling us?

A. Oh, so you think that people came to me and
said that I'm to call the police on Jeffrey?
BY AGENT RICHARDS:

Q. Was there anyone that thought that what mr.

Epstein was doing was inappropriate and was concerned

Page 46

HOUSE_OVERSIGHT_012327
"
IMAGES-008-HOUSE_OVERSIGHT_024921.txt,"COWEN
COLLABORATIVE INSIGHTS

POINTS OF CONTACT

Author Profiles

Cowen Research
New York
646 562 1330

cowen.research@cowen.com

Andrew M. Charles, CFA
New York
646 562 1332

andrew.charles@cowen.com

Andrew Charles is an analyst focused on
restaurants. He has spent over seven years
on the sell side covering the sector.

Phil Nadeau, Ph.D.
New York

646 562 1336

/ phil. nadeau@cowen.com

Phil Nadeau is a senior analyst covering
biotech. He joined Cowen in 2000 and holds
an SB/M.Eng from MIT, anda Ph.D. from
Harvard.

Charles Rhyee
New York
646 562 1376

rd Ae charles.rhyee@cowen.com

Charles Rhyee is a senior analyst covering
health care IT and distribution, which he has
followed since 1999. He joined Cowen in
2011.

February 25, 2019

Vivien Azer
New York
646 562 1351

vivien.azer@cowen.com

Vivien Azer is a senior analyst covering
beverages, tobacco and cannabis. She joined
Cowen in 2014.

Oliver Chen, CFA
New York

646 562 1424
Oliver Chen is an //-ranked analyst covering
retailing/specialty, broadlines, department

stores, & luxury goods. He has an MBA from
Wharton.

oliver.chen@cowen.com

Charles Neivert

New York

i 646 562 1370
Charlie Neivert is a senior research
analyst covering agricultural & commodity

chemicals. He has a BA from University of
Pennsylvania.

charles.neivert@cowen.com

Eric Assaraf
Washington, DC
202 868 5304

a;

Eric Assaraf is with Cowen Washington
Research Group covering health care. He
received degrees from the University of
Maryland.

eric.assaraf@cowen.com

COWEN.COM

John Blackledge
New York
646 562 1359

john.blackledge@cowen.com

John Blackledge is a senior analyst covering
the Internet sector. He joined Cowen in
2012 as the head of Internet research.

John Kernan, CFA
New York

SI
646 562 1324

john.kernan@cowen.com

John Kernan is a research analyst focused
on apparel, footwear and textiles. He has
spent seven years on the Sell side covering
the sector.

2 a“
a =
4
1h
Jeff Osborne is an analyst covering
sustainable energy tech. He has a BS from

Trinity University and an MBA from Wayne
State University.

Jeffrey Osborne
Stamford
646 562 1391

jeffrey.osborne@cowen.com

Doug Schenkel
Boston
617 946 3918

doug.schenkel@cowen.com

Doug Schenkel is a senior analyst covering
tools and diagnostics. He joined Cowen in
2005 and holds an M.B.A. from the UCLA
Anderson School.

105

HOUSE_OVERSIGHT_024921
"
IMAGES-009-HOUSE_OVERSIGHT_027861.txt,"Bibi is right about one thing. The negotiating challenges have become more
difficult since Arafat’s refusal of our offer at Camp David. Arafat is no longer
alive. Palestinian politics have become ever more fragmented and messy, not
least as a result of the Hamas takeover of Gaza.

But Churchill once said that the difference between a pessimist and an
optimist was that the pessimist always saw difficulties in every opportunity. The
optimist saw opportunities in the difficulties.

I, of all people, do not look at such opportunities without hard-headed
analysis, even a dose of scepticism. But the opportunities are undeniably there,
and never has Israel risked paying a higher price for failing to see and at least to
try to act on them.

The first port of call should still be the Palestinians. I have repeatedly asked
Bibi, and the right-wing rivals that seem often to loom large in his political
calculations: “If you’re so sure you don’t have a negotiating partner in the
Palestinians, who not at least try? Seriously. What do you have to lose?”

But beyond this, there is a whole range of relatively moderate countries —
and, as Sunni states, strongly anti-Iranian countries — which share with Israel a
real, practical interest in putting in place a new political arrangement in the
Middle East. So does the United States, Russia, even China. Each, in their own
ways, is threatened by a terror threat that will require international action, and
many years, finally to defeat.

A Saudi “peace plan’, for instance, has been on the table for years. Formally
endorsed by the Arab League, it proposes a swap: Israeli withdrawal for full and
final peace and Arab recognition. Successive Israeli governments have
dismissed it out of hand, arguing that the withdrawal which the Saudi proposal
demanded — every inch of territory, back to the borders before the Six-Day War
— would be not only politically unacceptable, but practically impossible.

In the final days of the Camp David summit, as our failure was becoming
inescapably clear, a disheartened Bill Clinton said to me that he could
understand, just about, why Yasir Arafat had not accepted the unprecedentedly
far-reaching proposals I had presented. But what he couldn’t grasp was how the
Palestinian leader could say no even to accepting them as a basis for the hard,
further work which we all knew a final peace agreement would entail. Wasn’t
Arafat capable of looking beyond the political risks, of understanding the
greater risks of inaction. Of seeing the rewards? Of looking ahead?

13
HOUSE_OVERSIGHT_027861
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HOUSE_OVERSIGHT_028479
"
IMAGES-010-HOUSE_OVERSIGHT_030236.txt,"Rand, who had come to America from Soviet Russia with striking insights into totalitarianism and the
destructiveness of socialism, was already a celebrity. The left, naturally, hated her. But as recently as 1991, a
survey by the Library of Congress and the Book of the Month Club found that readers rated ""Atlas"" as the
second-most influential book in their lives, behind only the Bible.

For the uninitiated, the moral of the story is simply this: Politicians invariably respond to crises -- that in most
cases they themselves created -- by spawning new government programs, laws and regulations. These, in
turn, generate more havoc and poverty, which inspires the politicians to create more programs... and the
downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight
of taxes and other burdens imposed in the name of fairness, equality and do-goodism.

In the book, these relentless wealth redistributionists and their programs are disparaged as ""the looters and
their laws."" Every new act of government futility and stupidity carries with it a benevolent-sounding title. These
include the ""Anti-Greed Act"" to redistribute income (sounds like Charlie Rangel's promises soak-the-rich tax
bill) and the ""Equalization of Opportunity Act"" to prevent people from starting more than one business (to give
other people a chance). My personal favorite, the ""Anti Dog-Eat-Dog Act,"" aims to restrict cut-throat
competition between firms and thus slow the wave of business bankruptcies. Why didn't Hank Paulson think of
that?

These acts and edicts sound farcical, yes, but no more so than the actual events in Washington, circa 2008.
We already have been served up the $700 billion ""Emergency Economic Stabilization Act"" and the ""Auto
Industry Financing and Restructuring Act."" Now that Barack Obama is in town, he will soon sign into law with
great urgency the ""American Recovery and Reinvestment Plan."" This latest Hail Mary pass will increase the
federal budget (which has already expanded by $1.5 trillion in eight years under George Bush) by an additional
$1 trillion -- in roughly his first 100 days in office.

The current economic strategy is right out of ""Atlas Shrugged"": The more incompetent you are in business, the
more handouts the politicians will bestow on you. That's the justification for the $2 trillion of subsidies doled out
already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto
companies -- while standing next in line for their share of the booty are real-estate developers, the steel
industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers. With
each successive bailout to ""calm the markets,"" another trillion of national wealth is subsequently lost. Yet, as
""Atlas"" grimly foretold, we now treat the incompetent who wreck their companies as victims, while those
resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate
""windfalls.""

When Rand was writing in the 1950s, one of the pillars of American industrial might was the railroads. In her
novel the railroad owner, Dagny Taggart, an enterprising industrialist, has a FedEx-like vision for expansion
and first-rate service by rail. But she is continuously badgered, cajoled, taxed, ruled and regulated -- always in
the public interest -- into bankruptcy. Sound far-fetched? On the day | sat down to write this ode to ""Atlas,"" a
Wall Street Journal headline blared: ""Rail Shippers Ask Congress to Regulate Freight Prices.""

In one chapter of the book, an entrepreneur invents a new miracle metal -- stronger but lighter than steel. The
government immediately appropriates the invention in ""the public good."" The politicians demand that the metal
inventor come to Washington and sign over ownership of his invention or lose everything.

The scene is eerily similar to an event late last year when six bank presidents were summoned by Treasury
Secretary Hank Paulson to Washington, and then shuttled into a conference room and told, in effect, that they
could not leave until they collectively signed a document handing over percentages of their future profits to the
government. The Treasury folks insisted that this shakedown, too, was all in ""the public interest.""

Ultimately, ""Atlas Shrugged"" is a celebration of the entrepreneur, the risk taker and the cultivator of wealth
through human intellect. Critics dismissed the novel as simple-minded, and even some of Rand's political
admirers complained that she lacked compassion. Yet one pertinent warning resounds throughout the book:
When profits and wealth and creativity are denigrated in society, they start to disappear -- leaving everyone the
poorer.

One memorable moment in ""Atlas"" occurs near the very end, when the economy has been rendered comatose
by all the great economic minds in Washington. Finally, and out of desperation, the politicians come to the
heroic businessman John Galt (who has resisted their assault on capitalism) and beg him to help them get the
economy back on track. The discussion sounds much like what would happen today:

Galt: ""You want me to be Economic Dictator?""

Mr. Thompson: ""Yes!""

""And you'll obey any order | give?""

“Implicitly!""

HOUSE_OVERSIGHT_030236
"
IMAGES-001-HOUSE_OVERSIGHT_010530.txt,"‘TERSON

that side of the political aisle. He
nton’s nemesis, Ken Starr, work-
ke sure they'd covered the bases,
Roy Black—the lawyer who'd
of rape and kept Rush Limbaugh
il drug use—and Jay Lefkowitz,
_with US attorney R. Alexander

5 attorney’s office reached a for-
team: the United States would

or of prosecution by the state of

nt (NPA) was drafted; among
that he would not be prosecuted
ida for felony offenses involving
rls. (By that point, thirty known
Instead it allowed him to plead
yr solicitation of prostitution and
rostitution. The NPA established
ein’s victims to sue him in civil
lary step of ensuring that “any 4
ipstein’s would be immune from

n’s agreement to plead guilty and —
the manner described above, if 4
| of the terms and conditions of i
ates also agrees that it will not ©
against any potential co-conspita |
t stated, mentioning Sarah Kellen

le.

Fittuy Ricw

The parties anticipate that this agreement will not be made
part of any public record,” the document concludes. “If the
United States receives a Freedom of Information Act request or
any compulsory process commanding the disclosure of the agree-
ment, it will provide notice to Epstein before making that
disclosure.”

Remarkably, despite assurances they'd received from the
feds, none of the victims was consulted prior to the drafting of
this NPA.

If Epstein did not sign the agreement, he faced a fifty-seven-
count indictment and a decade or more in prison. But Epstein’s
team of lawyers had gotten him a deal so sweet it could have rot-
ted all the teeth in South Florida.

For all his protestations of innocence, there was every reason
in the world to agree to an NPA.

On September 24, 2007, Epstein did sign it.

Once again, none of the victims had been consulted or
notified.

HOUSE_OVERSIGHT_010530
"
IMAGES-002-HOUSE_OVERSIGHT_013281.txt,"K. Anji Reddy, 74. Billionaire founder of Dr. Reddy’s
Laboratories Ltd., India’s second-largest drugmaker. Died March
15 of liver cancer.

Olivier Metzner, 63. One of France’s best-known defense lawyers,
whose clients included former Societe Generale SA trader Jerome
Kerviel. Died of suicide on March 17, when his body was found
floating near his private island in Brittany.

Steve Davis, 60. Quarterback on the University of Oklahoma’s
national college football championship teams in 1974 and 1975.
Died March 17 in a plane crash.

Harry Reems, 65. The male star of “Deep Throat,” a 1972 U.S.
film that brought hardcore pornography to mainstream audiences.
Died March 19 in Salt Lake City.

Rise Stevens, 99. New York City-born mezzo-soprano who starred
at the Metropolitan Opera in the 1940s and 1950s and was best
known for playing the lead role in “Carmen.” Died March 20.

Chinua Achebe, 82. The Nigerian author of “Things Fall Apart”
(1958), one of the first novels by an African writer to attract
a worldwide audience. Died March 21.

Georg W. Claussen, 100. The CEO at Beiersdorf AG, the Hamburg-
based maker of Nivea skin cream, from 1957 to 1979. Died March
21.

Ray Williams, 58. A former guard in the National Basketball
Association whose 10-year career included stints with the New
York Knicks and New Jersey Nets. Died March 22.

Boris Berezovsky, 67. He was one of the first and best-known
oligarchs who accumulated vast wealth and influence in post-
Soviet Russia until a falling out with Russian President

Vladimir Putin. Died March 23 at his home near London, where he
lived in self-imposed exile.

HOUSE_OVERSIGHT_013281
"
IMAGES-011-HOUSE_OVERSIGHT_032068.txt,"From: Jeffrey Epstein [jeevacation@gmail.com]

Sent: 9/22/2011 10:19:51 AM
To: Sultan Bin Sulayer a
Subject: Re: Gps GTX Smart Shoe

we will have dinnner at 8 ,, you can bring your maldives friend or anyone else. (no women ). we should
spend an hour together just the two of us. today tomorrow:? It is always fun to see you

On Thu, Sep 22, 2011 at 12:46 AM, Sultan Bin Sulayem [( wrote:

e About GTX

e Products & Services
e Platform

° News

° Contact Us

e Investors

e Press

. Blog

e Videos

Watch Video

° GTX Corp on YouTube
° Locimobile
NEWS

Patrick Bertagna Interviewed on
Travel Talk Radio with Sandy Dhuyvetter

Patrick Bertagna, founder and co-inventor of the GTX Smart Shoe, joins Sandy to

discuss this new invention and what it means to patients and families.
The Executive Producer and Host of TravelTalkMEDIA is Ms. Sandy Dhuyvetter, one of the

world’s leading travel industry media specialists. Following a successful career as a pioneer in the

HOUSE_OVERSIGHT_032068
"
IMAGES-010-HOUSE_OVERSIGHT_029767.txt,"he is required to provide only his permanent address to the database.

Epstein is currently listed under his Florida home even though he is no longer a Florida resident either (after his
arrest he immediately became a US VI resident), but then again who's keeping count?

Once again these are mere technicalities when it comes to Epstein's sexual predator case. The two most
disturbing parts of this story are that this could easily happen again and that once again there will be no justice.
Had Epstein been a caring benefactor contributing to society and these young girl's education and well being
then the world would have judged him differently.

What he has done instead is the exact opposite -- causing enormous damage to hundreds of underage girls who
could have been sponsored towards a better education.

With respect to Manhattan DA Cyrus Vance, I'm confused by his decision to allow this sexual predator to live
at his Fifth Avenue house all this time (since August 2010), given his rather tough stance on gun control as
witnessed by his testimony in Friday's NYPost when asked about a Florida driver cleared in a Manhattan
weapon's charge, ""guns brought illegally into New York City"" he said, "" for any reason violate well established
state laws and are a threat to our public safety"".

Then wouldn't a registered sex offender living 500 feet from a park (Central Park where young girls
congregate), and with resources to spare be an even more dangerous threat to society?

The Billionaire Pedophile's Sex Den
by Conchita Sarnoff javascript:void(0)

© javascript:;javascript:;
e http:/(www.thedailybeast.com/blogs- and-stories/2010-07-22/jeftrey-epstein-pedophile-billionaire-and-his-sex-den/full/
e javascript:void(0)

e javascript:void(0)
e javascript:void(0)

Newscom Hedge fund mogul and sex offender Jeffrey Epstein, who went free this week, lived in a
depraved world of thrice-daily massages, pornographic artwork, and hush money—that’s only now
being revealed. Conchita Sarnoff reports on the sordid details in part two of her exclusive exposé. Also:
¢ Nude images of young girls were scattered around the house and the bathroom soap was shaped like sex
organs
¢ Staff trolled for fresh recruits to make sure Epstein had two or three massage appointments each day
¢ The house manager has been sentenced to a longer prison term than Epstein—for trying to sell notes
regarding massage appointments
¢ Epstein gave $1 million to his friend Jean Luc Brunel when he was starting the modeling agency MC2
¢ According to a former bookkeeper, young girls were brought to the U.S. by MC2—often from Eastern
Europe—then traveled on Epstein’s private jets
Jeffrey Epstein’s loyal friends say that his prosecution was unduly harsh, rather than outrageously lenient.
They insist that his sexual habits, although obsessive and unusual, were mostly legal and essentially harmless.
As the police records attest, the girls brought to El Brillo Way were routinely told they could “say no” at any
time during a massage as Epstein escalated contact in a step-by-step assault that was remarkably similar in
every victim’s statement: First she would be asked to remove her shirt, then her pants. He would attempt to
fondle her buttocks and breasts as he masturbated, then bring out a large vibrator. There was sometimes digital
penetration, and the more willing girls were lured into full-blown sexual relations with both Epstein and Nadia
Marcinkova, who was referred to in press accounts and police reports as Epstein’s live-in “sex slave.”

A former bookkeeper in the Miami office, who also arranged visas for girls traveling to the U.S., confirmed

that MC2 girls became frequent guests on Epstein’s private jets.

It’s true that some underage girls may have lied about their age, and some came to the house voluntarily several
times—although, according to Florida statutes, none of that has any bearing on the criminality of the contact,

HOUSE_OVERSIGHT_029767
"
TEXT-001-HOUSE_OVERSIGHT_010617.txt,"﻿OGE Form 278e (March 2014)
U.S. Office of Government Ethics· 5 C.F.R. art 2634 Form A roved: OMB No. (3209-0001)
Janua 20, 2017
Executive Branch Personnel Public Financial Disclosure Report (OGE Form 278e)
Filer's Information
Last Name First Name MI Position
Trump Donald J President of the United States of America
UNITE D STATES OFF I CE O F
GOVERNMENT ETHICS
Preventi n g Co nflicts * o f Interest
in the Exec utive Branch
Agency
Other Federal Government Positions Held During the Preceding 12 Months:
N/A
Name of Congressional Committee Considering Nomination (Nominees only):
N/A
nts I have made in this rep011 are true, complete and correct to the best of my lmowledge:
Date:
as1s o m ormat10n contame m t 1s rep011,
Signature:
Date:
I '-I Z.017
Signature:
Date:
U.S. Office of Government Ethics Ce11ification (if required):
Date:
Comments of Reviewing Officials:
001! l'Ofln 271 ~ ( ~ l u..:h 2014)
Instructions for Part 1
Note· This is a public form Do not Include account numbers street addresses or family member names See Instructions for required information
Filer'sNnmc
Donald J. TNmp
Pm·t 1: Filer's Positions Held Outside United Stntes Government
IOrgnnlzntion Nnmc ICity/Stntc I01·g1mlzntlon Ty11c
'
1 4 Shadow Tree Lane LLC New York, NY LLC
2 4 Shadow Tree Lane Member Coro New York, NY Corooralion
3 40 Wall Development Associates LLC New York, NY LLC
4 40 Wall Street Commercial LLC New York. NY LLC
5 40 Wall Street LLC New York, NY LLC
6 40 Wall Street Member Corp New York, NY Corooralion
7 3126 Corporation New York, NY Corporation
B 401 Mezz Venture LLC New York, NY LLC
9 401 North Wabash Venture LLC New York, NY LLC
12 809 North Canon LLC New York, NY LLC
13 809 North Canon Member Corporation NewYork NY Corooratlon
14 81 Pine Nole Holder Inc NewYork NY Comoretlon
15 Aviation Payroll Company NewYork NY Comorallon
16 B Plaza Realty Corp. NewYork NY Corooralion
17 Bedford Hills Corp NewYork NY Corporation
18 Briar Hall Operations LLC New York, NY LLC
19 Briarcliff Properties, Inc. New York, NY Corporation
20 Caribusiness MRE LLC NewYork NY LLC
21 Caribusiness RE Coro. The NewYork NY Corporation
22 Chelsea Hall LLC New York NY LLC
23 Chicaao Unit Acauisillon LLC New York, NY LLC
24 China Trademark LLC New York, NY LLC
25 Coronet Hall Inc. NewYork NY Corporation
26 Develooment Member Inc. New York, NY Corporation
27 D 8 Pace Acauisilion LLC South Carolina LLC
28 0 8 Pace Acauisilion Member Coro New York, NY CorooraUon
29 DJT Aerospace LLC Atlantic Clly, NJ LLC
30 DJ Aerosoace (Bermuda) Limited Bermuda Foreion Corooratlon
31 DJT Entrepreneur Manaaina Member LLC (flkla DJT University Manaalna Member LLC) New York, NY LLC
32 DJT Entrepreneur Member LLC (f/k/a DJT University Member LLCl NewYork NY LLC
33 DJT Holdinos LLC New York, NY LLC
34 DJT Holdinos Manaoino Member LLC NewYork NY LLC
35 DJT Land Holdinos Member Corp NewYork NY Corporation
36 DJT Operations I LLC Palm Beach, Florida LLC
37 DJT Operations II LLC Palm Beach Florida LLC
38 DJT Operations CX LLC Waterburv. CT LLC
39 DSN Licensino LLC (fka Trump Marks Network LLCl NewYork NY LLC
40 DSN Licensino Member Coro Cfka Trump Marks Network Member Incl NewYork NY Corporation
41 DT APP Warrant Holdino LLC NewYork NY LLC
42 OT APP Warrant Holdino Manaoino Member Corp NawYork NY Corooratlon
43 DT Connect II LLC Palm Beach Florida LLC
44 DT Connect II Member Corp Palm Beach, Florida Corporation
45 OT Connect LLC Palm Beach Florida LLC
46 OT Connect Manaaino Member Coro Palm Beach Florida Corporation
47 DT Dubai Golf Manaoer LLC NewYork NY LLC
48 OT Dubai Golf Manaoer Member Coro NewYork NY Corooration
I Position lleld
President
PresidenUDirector/Chairman
Member & President
President
President
PresidenUDirector
PresldenUDirector
President
Member & President
President
PresidenUDlreclor
PresidenUDirector/Secretarv
PresidenUChairman
Director/President
Director & Presidenvrreasurer/Secretarv
Member
Director & Presidenvrreasurer/Secretarv
Member
Director/Chairman/President
Member
Member/President
Member/President
DlrectorNice President
PresidenUSecretarv & Director
Member/President
Chairman/PresidenUDirector
Member/President
PresldenUDlrector
Member & President
Member & President
Member & President
Member & President
President /Director
Member/President
Member/President
Member/President
Member/President
Director/Chairman & President
Member/President
Director/Chairman/President
Member/President
Director/Chairman/President
Member/President
Director/Chairman/President
Member/President
Director/ChairmanfPresident
IPnge Number
I 2 of 51
I From I To
09/26/12 1/19/2017
09/26/12 1/19/2017
4/11/95 & 8/11/03 1119/2017
08/27/09 1/19/2017
04/23/98 1/19/2017
04/29/98 1/19/2017
06/01/99 1/1912017
10/01/04 1/19/2017
5122102 & 10/1/04 1119/2017
12/13/06 1/19/2017
12/13/06 1/19/2017
06/30/99 1/19/2017
08/09/12 1/19/2017
07/14/81 11/10/2016
8/3/1995 & 4/16/96 1/19/2017
01/09/97 1/19/2017
1/17/1996 & 4/16/96 1/19/2017
03/13/13 1/19/2017
03/12/15 1/19/2017
11/22/95 1/19/2017
12/15/05 1/19/2017
06/17/08 1/19/2017
08/01/69 1/19/2017
10/2411996 & 11 /4/96 1/19/2017
11112/14 1/19/2017
11107/14 1119/2017
06/02/10 1119/2017
03/09/94 1119/2017
10/25/04 1119/2017
10/25/04 1/19/2017
11/29/2010 & 12/2/2010 1/19/2017
12/02/10 1/19/2017
01/16/12 1/19/2017
07/15/10 1/19/2017
07/15/10 1/19/2017
09/12/12 1/19/2017
02/26/09 11/9/2016
1114/2009 & 2/26/09 1119/2016
03/02/12 1/19/2017
03/02/12 1119/2017
07131114 1119/2017
07/31114 1119/2017
02/27/12 10/26/2015
02/27112 10/22/2015
03/20/13 1/19/2017
03/20/13 1/19/2017
Gaps in numerical sequence are due to the removal of previously reported Items no longer reportable on this part.
OO F. l'onnHHc (Mu.:1120 14)
Instructions for Part 1
Note· This is a public form Do not include account numbers st reet addresses or family member names See instructions for required Information
Filer's Nnme
Donald J. Trump
Pnrt 1: Filer's Positions Held Outside United States Government
• IOrgnnizntlon Nnme ICily/Stntc I Orgnnlzntlon Type I Position Hehl
49 DT Dubai II Golf Manaaer LLC NewYork NY LLC Member/President
50 DT Dubai II Golf Manaaer Member Coro NewYork NY Cornoralion Director/Chairman/President
51 DT Home Marks lnlernalianal LLC NewYark NY LLC Member/President
52 DT Home Marks lnlernalional Member Caro NewYark NY Corooralion Director/Chairman/President
53 DT India Venture LLC New Yark, NY LLC Member/President
54 OT India Venture Manaoina Member Coro NewYork NY CornoraUon Director/Chairman/President
55 DT Marks Baku LLC NewYork NY LLC Member/President
56 DT Marks Baku Managing Member Corp NewYark NY Cornorallon Director/Chairman/President
57 DT Marks Dubai LLC NewYork NY LLC Member/President
58 DT Marks Dubai Member Corp NewYork NY Comoralion Director/Chairman/President
59 DT Marks Dubai II LLC NewYork NY LLC Member/President
60 DT Marks Dubai II Member Coro NewYork NY Comoralion Director/Chairman/President
61 OT Marks Gurgaon LLC NewYork NY LLC Member/President
62 OT Marks Gurgaon Menaalno Member Caro NewYork NY Cornoralion Director/ChalrmanfPresident
63 OT Marks Jersey City LLC NewYork NY LLC Member/President
64 DT Marks Jupiter LLC NewYork, NY LLC Member/President
65 OT Marks Qatar LLC NewYork NY LLC Member/President
66 OT Marks Qatar Member Com NewYork NY Corooralion Director/Chairman/President
67 DT Marks Products International LLC New York, NY LLC Member/President
68 OT Marks Products International Member Corp New York, NY Corporalion Director/Chairman/President
69 DT Marks Pune LLC NewYork NY LLC Member/President
70 DT Marks Puna Managing Member Carp New York, NY Corporation Director/Chairman/President
71 DT MARKS PUNE Ii LLC NewYork NY LLC Member/President
72 DT Marks Pune II Managing Member Corp New York, NY Corporation Director/Chairman/President
73 DT Marks Rio LLC New York, NY LLC Member/President
74 OT Marks Rio Member Corp NewYark NY Corporation Director/Chairman/President
75 OT Marks Vancouver LP NewYork, NY Partnership Partner/President
76 OT Marks Vancouver Manaaer Corp NewYork NY Corporation Direclor/ChairmantPresident
77 DT Marks Warli LLC NewYark. NY LLC Member/President
78 OT Marks Worli Member Corp New Yark, NY Corporation Director/Chairman/President
79 DT Tower Gurgaan LLC New York, NY LLC Member/President
80 OT Tower Guraaon Manaaina Member Corp New York, NY Corporation Director/Chairman/President
81 DTW Venture LLC New York, NY LLC Member
82 DTW Venture Manaaing Member Coro New York, NY Corporation Director/President
83 East 61 SI Campany, L.P., The New York, NY Partnership Partner
84 EID Venture I LLC NewYark. NY LLC Member
85 EID Venture I Corporation NewYork, NY Corporation PresidenUDirector
86 Excel Venture I LLC St. Martin, French West lndi LLC PresidenUSecretarvffreasurer/Member
87 Excel Venture I Corp. SI. Martin French West lndi Corporation Director/Chairman/President
88 Fifty Seven Manaaement Corp NewYark NY Corporation Director/Chairman
89 Fifty Sevenlh Street Associates LLC NewYark NY LLC President
90 First Member, Inc. NewYark NY Corporation President
91 Flights, Inc. {Formerly Trump Flights, Inc.) NewYark NY Corporation PresidenVfreasurer/Director
92 Florida Properties Management LLC Palm Beach, Florida LLC Member
93 Fontainbleu Apartments LLC New York. NY LLC Member
94 Golf Produclions LLC New York, NY LLC Member/Presidenl
I Page Number
I 3 of51
I From I To
10/30/14 1/19/2017
10130/14 1/19/2017
07/12/13 111912017
07/12113 1/19/2017
01/09/12 1/19/2017
01/09/12 1/19/2017
04/10/12 1/19/2017
04/10/12 1/19/2017
09/05/13 1/1912017
09105/13 1/1912017
10/30/14 11120/2015
10/30/14 11/20/2015
10/28/14 1/19/2017
10130/14 1/19/2017
10/30114 1/19/2017
08/29/14 1119/2017
10/30/14 1119/2017
10/30/14 1119/2017
09/13/13 1/19/2017
09/13/13 1/19/2017
01/09/12 1/19/2017
01/09/12 1/19/2017
06/18/14 1/19/2017
06/18/14 1/19/2017
03/09/12 1/19/2017
03/09/12 1/19/2017
01122/13 1119/2017
01122/13 1119/2017
05/21/13 1/19/2017
05/21/13 1/19/2017
03/09/15 1119/2017
03/09/15 1/19/2017
03/14/14 1/19/2017
03/14/14 1/19/2017
12/06/96 1/19/2017
05/01/13 1/19/2017
05/01113 1/19/2017
07/01113 1/19/2017
07/01113 1/19/2017
08/23/12 1/19/2017
11/30/95 1/19/2017
09/26/96 1/19/2017
07/01199 1/19/2017
12/17/01 1/19/2017
11/22/95 1/19/2017
06/16/09 1/19/2017
Gaps in numerical sequence are due to the removal of previously reported items no longer reportable on this part.
OO F. l'nn1117Xt (Mald120J..I)
Instructions for Part 1
Note· This is a public form Do not Include account numbers street addresses or family member names See Instructions for required information
Filer'sNnme
Donald J. Trump
Part I: Filer's Positions Held Outside United States Government
'
IOrgnnizntion Nnmc ICity/Stntc IOrgnnizntlou Ty(lc I Position Held
95 Golf Productions Member Coro. New York, NY Corporation PresldenUDirector/Chairman
96 Golf Recreation Scotland Limited Turnberrv. Scotland Foreion Enlltv Director
97 Helicopter Air Services, Inc. New York, NY Corporation Presldenl
98 Hiahlander Hall, Inc. New York, NY Corporation DirectorNice President
107 Indian Hills Holdinos LLC Ilk/a Indian Hills Develooment LLC New York, NY LLC Member/President
108 Juciter Golf Club LLC !Trump National Golf Club - Jupiter) NewYork NY LLC President
109 Juciter Golf Club Manaoina Member Cone New York, NY Corporation PresldenUDirector/Chairman
110 Lamlnaton Famllv Holdinos LLC NewYork NY LLC PresldenUMember
111 Lawrence Towers Apartments LLC NewYork NY LLC Member
112 LFB Acaulsilion LLC NewYork NY LLC President
113 LFB Acauisition Member Coro NewYork NY Corooration PresidenUDirector/Chairman
114 Mar A Laao Club Inc Palm Beach, Florida Corporation President/Treasurer/Secretarv
115 Mar A Laao Club L.L.C. NewYork NY LLC Member/President
116 Midland Associates New York, NY Partnership Partner
117 Miss Universe L.P. LL.LP. fFormerlv Trumo Paoeants, L.P.l NewYork NY Partnership Partner
118 Nitto Wo~d Co., Limited Turnberrv. Scotland Foreian Enlltv Director
119 Ocean Develooment Member Inc. New York, NY Coro oration PresidenUDireclor
120 Ocean Develooment Services LLC NewYork NY LLC Member
121 OPO Hotel Manaaer LLC New York, NY LLC President
122 OPO Hotel Manaaer Member Coro NewYork NY Corooralion Director/Chairman/President
123 OWO Develooer LLC NewYork NY LLC PresldenUMember
124 Panama Ocean Club Manaaement LLC NewYork NY LLC Member/President
125 Panama Ocean Club Menaoement Member Coro NewYork NY Corooration PresidenUChairman/Director
126 Paramount RPV Holdinas LLC NewYork NY LLC Member/President
127 Paramount RPV Holdinas Manaaer Coro NewYork NY Corooration PresldenUDirector/Chairman
128 Pare Consullina. Inc. New York, NY Corooration PresidenUDirector/Secrelarv
129 Park Briar Associates NewYork NY Partnershio Partner
130 Pine Hill Develocment Manaaino Member Coro NewYork NY Corooralion Director & Chairman/President
131 Pine Hill Develooment LLC New York, NY LLC President
132 Plaza Consullino Corp New York, NY Corooration President
133 Poker Venture LLC NewYork NY LLC Member/President
134 Poker Venture Manaaina Member Coro NewYork NY Concorallon Dlrector/PresidenUChalrman
135 Rea Tru Eauilies LTD. NewYork NY Carooratlon Dlrector/PresidenUSecretarvffreasurer
136 RPV Develooment LLC NewYork NY LLC Member/President
137 Scotland Acauisitions LLC NewYork NY LLC Member/President
138 Sentient Jets LLC !Now/Known/As Trumn Jets LLC) NewYork NY LLC Member
139 Sentient Jets Member Coro NewYork NY Corooratlon PresidenUDirector
140 Seven Sorinas LLC NewYork NY LLC President
142 Shore Haven APt#1 ,Inc New York, NY Corooralion DireclorNice President
143 Shore Haven Shooolng Center LLC NewYork NY LLC Member
144 SLC Turnberrv Limited rTrumo Turnberrvl Turnberrv. Scotland Foreian Entilv Director/Chairman
147 Sussex Hall Inc. New York, NY Corooralion DirectorNice President
148 Restaurant 40 LLC NewYork NY LLC Member/President
149 Restaurant 40 Member Coro NewYork NY Corooration PresidenUDirector/Chairmanffreasurer/Secrelarv
150 T International Realtv LLC Cdba Trump International Realtvl NewYork NY LLC Member/President
151 Tea Air Inc. New York, NY Corooratlon PresidenUDirector
IPngc Number
I 4 of 51
I From I To
06/16109 1119/2017
04/18/14 1/1912017
08116/88 1/1912017
08101/69 1011512015
215/1998 & 8/2000 1/1912017
09/28/12 1/1912017
09/28/12 1/1912017
1m2011 & 11612011 1/19/2017
11/22/95 111912017
08129102 111912017
11109111 111912017
04/16196 111912017
01114110 111912017
06115168 111912017
October 1996 1119/2017
06111114 1/19/2017
03108107 111912017
03108/07 1012812015
06112/13 111912017
06112113 111912017
11105114 111912017
08105110 1/19/2017
08105110 1119/2017
111712011 & 113113 10114/2016
01103113 10114/2016
06/01199 111912017
06/24169 1/1912017
4119114 & 4115114 & 4/15114 111912017
04/15114 111912017
10/22186 111912017
03119/12 111912017
03119/12 111912017
817190 & 8126177 111912017
08106102 111912017
03/21/06 111912017
09/25/08 111912016
09/25/08 111912016
Dec. 1995 111912017
08/01/69 111912017
11122/95 111912017
06111114 111912017
08101169 1/19/2017
1212112011 & 12124/11 1119/2016
12124111 11/9/2016
09112112 1/19/2017
08124110 111912017
Gaps in numerical sequence are due to the removal of prevlously reported Items no longer reportable on this part.
OCiE l'oon 278~ (~brd1201-I)
Instructions for Part 1
Note· This is a public form Do not Include account numbers street addresses or fam!ly member names See instructions for requ ired information
Filer's Name
Donald J . Trump
Pnrt 1: Filer's Positions Held Outside United Stntes Government
I Orgnnizntlon Nnmc ICily/Slntc IOrgnnizntion Type
'
153 THC Baku Hotel Manaaer Services LLC New York, NY LLC
154 THC Baku Hotel Manaoer Services Member Corp, New York, NY Corporation
155 THC Baku Services LLC New York, NY LLC
156 THC Baku Services Member Coro New York, NY Corporation
157 THC Barra Hotelaria L TDA. Brazil Forekm Entilv
158 THC Central Reservations LLC NewYork NY LLC
159 THC Central Reservalions Member Corp NewYork NY Corooration
160 THC China Development LLC (fka Trump China Development LLCl . New York, NY LLC
162 THC Development Brazil Manaalna Member Corp NewYork NY Corporation
163 THC Development Brazil LLC NewYork NY LLC
164 THC Dubai II Hotel Manaaer LLC New York, NY LLC
165 THC Dubai II Hotel Manaaer Member Corp New York, NY Corporation
166 THC Hotel Development LLC NewYork NY LLC
167 THC IMEA Development LLC NewYork NY LLC
168 THC Miami Restaurant Hosoitalltv Member Corp NewYork NY Corporation
169 THC Miami Restaurant Hosoltailtv LLC NewYork NY LLC
170 THC Rio Manaalna Member Corp NewYork NY Corporation
171 THC Rio Manaaer LLC New York, NY LLC
172 THC Sales & Marketina LLC NewYork NY LLC
173 THC Sales & Marketina Member Coro NewYork NY Carooratian
174 THC China Technical Services ManaoerCoro NewYork NY Corooratian
175 THC China Technical Services LLC NewYork NY LLC
176 THC Qatar Hotel Manaaer LLC NewYork NY LLC
177 THC Qatar Hotel Manaaer Member Corp NewYork NY Carooratian
178 THC Services Shenzhen LLC NewYork NY LLC
179 THC Services Shenzhen Member Corp New York NY Caroaratlan
180 THC Shenzhen Hotel Manaaer LLC NewYork NY LLC
181 THC Shenzhen Hotel Manaoer Member Coro NewYork NY Coroaration
182 THC Vancouver Manaaement Caro NewYork NY Corooratlon
183 THC Vancouver Pavroll ULC British Columbia (Canada) Coroaration
184 THC Venture I LLC NewYork NY LLC
185 THC Venture II LLC New York, NY LLC
186 THC Venture Ill LLC - NIKIA TITT Venture LLC New York, NY LLC
187 THC Venture I Manaoing Member Corp. New York NY Comaratlon
188 THC Venture II Manaaino Member Carp. New York, NY Coroaratian
189 THC Venture Ill Member Coro - NIKIA TTTT Venture Member Coro New York, NY Coroaratian
190 The Donald J. Trump Foundation Inc. New York, NY Non orafit
191 The Trumo Carooratlon NewYork NY Coroaration
192 The Trumo Follies Member Inc. NewYork NY Coroaration
193 The Trumo Eaultable Fifth Avenue Companv New York NY Partnershio
194 TIGL Common Area Manaaement Corn NewYork NY Coroaratian
195 TIGL Common Area Manaaement Haldinas LLC NewYork, NY LLC
196 TIGL Ireland Enterorises Limited fTrumo International Golf Links - Daanbeal Doanbea, Ireland Foreian Entitv
197 TIGL Ireland Manaaement Limited Daanbea. Ireland Foreian Entitv
198 TIHC Reservations LLC NewYork, NY LLC
199 TIHH Member Coro New York, NY Caroaration
I Position Held
PresidenUMember
Director/Chairman/President
Member/President
Director/Chairman/President
Member
Member/President
Chairman/Director/President
Presldant
Chairman/Director/President
Member/President
Member/President
Chairman/Director/President
Member/President
President
Chairman/Director/President
Member/President
Chairman/Director/President
Member/President
Member/President
Chairman/Director/President
Chairman/Director/President
Member/President
Member/President
Chairman/Director/President
Member/President
Chairman/Director/President
Member/President
Chairman/Dlrector/President
Chairman/Director/President
Director/President
Member/President
Member/President
PresidenU
Chairman/Director/President
Chairman/Director/President
Chairman/Director/President
Director
Director/PresidenUChairman
Chairman/Director/President
Partner
PresidenVDirectar
Member/President
Director/President
PresidenUDirector
Member/President
President/Director
IPnge Number
I 5 of 51
I From I To
12/19/14 1/19/2017
12/19/14 1/19/2017
12/10/14 1/19/2017
12/10/14 1119/2017
04/15/14 1119/2017
09/16/13 1119/2017
09/16/13 1/19/2017
02/20/08 1/19/2017
05/15/13 1/19/2017
05/15/13 1119/2017
10/30/14 11120/2015
10/30/14 11120/2015
10/11/12 1119/2017
01/16/12 1119/2017
02/01/13 1/19/2017
02/01113 1/19/2017
04/11113 1/19/2017
04/11/13 1/19/2017
09/17/13 1/19/2017
09/17/13 1/19/2017
05/16/14 1/19/2017
05/16/14 1/19/2017
10/30/14 1/19/2017
10/30/14 10/18/2016
11/25/14 1/19/2017
11/25/14 1119/2017
11125114 1/19/2017
11/25/14 1/19/2017
01123/13 1/19/2017
02/20/15 1/19/2017
03/14/14 1/19/2017
03114/14 1119/2017
10/27/14 1/19/2017
03/14/14 1/19/2017
03/14/14 1/19/2017
10/27/14 1/19/2017
02/18/87 1/19/2017
07/30/80 1119/2017
12/13/10 1/19/2017
01/30/80 1119/2017
02/21114 1/19/2017
02/21/14 12/30/2015
02/24/14 1119/2017
02/24/14 1/19/2017
08/09/10 1/19/2017
09/10/09 1/19/2017
Gaps in numerical sequence are due to the removal of previously reported items no longer reportable on this part.
Of.JI:: Form 27~c (~foKh 20\.J)
Instructions for Part 1
Note· This is a public form Do not Include account numbers street addresses, or famlly member names. See Instructions for required Information.
Filer's Name
Donald J. Trump
Pnrt I: Filer's Positions Held Outside United States Government
• IOrgnnlzn11on Nnmc IClty/Stnte IOl'gnnlznllon Ty 11c
200 TIHH Member LLC NewYork NY LLC
201 TIHM Member Coro New York, NY Corooration
202 TIHT Chicaao Member Acaulsltion LLC New York, NY LLC
203 TIHT Commercial LLC New York, NY LLC
204 TIHT Holdina Comoanv LLC New York, NY LLC
205 TIHT Member LLC New York, NY LLC
206 Tiooerarv Realtv Coro. NewYork NY Corooralion
207 TMG Member LLC New York, NY LLC
208 TNGC Charlotte LLC New York, NY LLC
209 TNGC Chartotte Manaaer Coro New York, NY Corooralion
210 TNGC Dutchess Countv LLC ffka Trumo Marks Classis Cars LLC\ New York, NY LLC
211 TNGC Dutchess Countv Member Coro (fka Trumo Marks Classic Cars Member Coro) New York, NY Corooralion
212 TNGC Juoiter Manaaement LLC New York. NY LLC
213 TNGC Juoller Manaolna Member Coro New York, NY Corooralion
214 TNGC Pine Hill LLC lfka Crest Court LLCl fTrumo National Golf Club - Philadelohial New York, NY LLC
215 TNGC Pine Hill Member Coro. ffka Crest Court Member Coro\ NewYork NY Coroorallon
216 Toronto Develooment LLC New York, NY LLC
217 TPCFD LLC NewYork NY LLC
218 TP CFO Manaoer Coro. NewYork NY Corooretion
219 Travel Enterorises Manaoement Inc lFormer1v Tovs at Trumo. Inc.\ NewYork NY Corooretion
220 Trumo 106 CPS LLC NewYork NY LLC
223 Trumo 845 LP LLC NewYork NY LLC
224 Trumo 845 UN GP LLC New York NY LLC
225 Trumo 845 UN MGR Coro NewYork NY Corooratlon
226 Trumo 845 UN MGR LLC fF/K/A 845 UN LLC\ NewYork NY LLC
227 Trumo AC Casino Marks LLC NewYork NY LLC
228 Trumo AC Casino Marks Member Coro NewYoik NY Coroorallon
229 Trumo Acaulsition Coro. NewYork NY Corooration
230 Trumo Acouisition, LLC NewYork NY LLC
231 Truma Books LLC NewYork NY LLC
232 Trumo Books Manaaer Coro NewYork NY Corooratlon
233 Trumo Brazil LLC NewYork NY LLC
234 Truma Brtarcllff Manor Develooment LLC lformerlv Briar Hail Develooment LLC\ NewYork NY LLC
235 Trumo Canadian Services Inc NewYork NY Coroorallon
236 Trumo Canouan Estele LLC NewYork NY LLC
237 Trump Canouan Estate Member Coro New York, NY Corooration
238 Truma Caribbean LLC New York, NY LLC
239 Trumo Carousel LLC New Yark, NY LLC
240 Trump Carousel Member Coro New York, NY Corooralion
241 Ace Entertainment Holdinas Inc lflkla Trumo Casinos Inc. & Former1v Trumo Tai Mahal Inc.) Allanlic Citv, NJ Coro oration
242 Trump Cenlral Park West Coro New York, NY Corooralion
243 Trumo Chicaao Commercial Member Coro New York, NY Corooralion
244 Trumo Chicano Commercial Manaoer LLC NewYork NY LLC
245 Trumo Chicaoo Develooment LLC New York, NY LLC
246 Trumo Chlcaao Hotel Member Coro New York, NY Corooration
247 Trumo Chicaoo Hotel Manaoer LLC NewYork NY LLC
I Position Hehl
Member/President
PresidenVDlrector
President
Member/President
Member/President
Member/President
PresldenVTreasurer/Director
Member
President
PresldenUChalrman/Dlrector
President
PresidenVChairman/Director
President
PresldenVChairman/Director
President
President/Chairman/Director
Member/President
Member/President
President/Chairman/Director
PresidenUCEO
Member/President
Member/President
Member/PresidenVTreasurer
President
PresidenVTreasurer/Member
PresidenVMember
President/Chairman/Director
President/Chairman/Director
Member/President
Member/President
PresldenUChalrmanlDlreclor
PresidenVMember
President
PresidenVSecreterv
President/Member
Pres\denVChairman/Dlrector
Member
PresidenVMember
PresidenVChairman/Direclor
ChairmanfTreasurer
President
President/Chairman/Director
PresidenVMember
PresidenUMember
President/Chairman/Director
PresidenVMember
IPnge Number
I 6 otsl
I From I To
09/10/09 1/19/2017
06/13/06 1/19/2017
06/03/04 1/19/2017
12/30/98 1119/2017
01/18/05 1/19/2017
07/20/06 1119/2017
11/13/75 1119/2017
01/15/99 1/19/2017
10/20/11 1/19/2017
10/20/11 1/19/2017
11/17/09 1/19/2017
11/17/09 1119/2017
06/26/14 1119/2017
06/26/14 1/19/2017
11/17/09 1/19/2017
11/17/09 1/19/2017
06/28/01 1/19/2017
11128/12 10/18/2016
11128/12 10/18/2016
03/24/86 1/19/2017
03/28/97 1/19/2017
09/19/03 1/19/2017
06/20/97 1/19/2017
10/14/98 1/19/2017
05/14/97 1119/2017
08/03/10 1119/2017
08/03/10 1/19/2017
02/06/08 1/19/2017
02/06/08 1/19/2017
10/03/11 1/19/2017
10/03/11 1/19/2017
09/08/03 1/19/2017
03/04/96 1/19/2017
March-03 1/19/2017
12/19/07 1/19/2017
12/19/07 1/19/2017
08/27/01 1119/2017
02/18/10 1119/2017
02/18/10 1119/2017
08/03/88 1119/2017
Seotember-94 1/19/2017
07/08/10 1/19/2017
06/28/10 1/19/2017
12/26/01 1/19/2017
07/08/10 1/19/2017
06/28/10 1/19/2017
Gaps in numerical sequence are due to the removal of previously reported Items no longer reportable on this part.
OOF.Ft1 1111l7Rc ( ~l ~ rd12014)
Instructions for Part 1
Note· This is a public form Do not include account numbers street addresses or family member names. See instructions for requi red lnformation
Filer's Name
Donald J. Trump
Part l : Filer's Positions Held Outside United States Government
N IOrgnniwlion Nnmc ICity/Stntc IOrgnniznlion Type
1 Position Held
IPnge Number
I 7 of 51
I From I To
248 Trumo Chicaoo Manaoino Member LLC New York, NY LLC
249 Trump Chicago Member LLC New York, NY LLC
250 Trump Chicaoo Residential Member Coro New York, NY Corooration
251 Trumo Chicago Residential Manaaer LLC New York, NY LLC
252 Trump Chicago Retail LLC New York, NY LLC
253 Trump Chicago Retail Manaaer LLC NewYork NY LLC
254 Trump Chicago Retail Member Corp NewYork NY Coroorallon
255 Trump Classic Cars LLC NewYork NY LLC
256 Trump Classfc Cars Member Corp NewYork NY Corooration
257 Trump Commercial Chicago LLC New York, NY LLC
260 Trump CPS Corp NewYork NY Coroorallon
261 Trump CPS LLC New York. NY LLC
262 Trump Delmonico LLC NewYork, NY LLC
263 Trump Development Services LLC New York, NY LLC
264 Trump Development Services Member Corp. New York, NY Corooratlon
265 Trump Drinks Israel Holdings LLC New York, NY LLC
266 Trump Drinks Israel Holdings Member Corp New York, NY Corooration
267 Trump Drinks Israel LLC NewYork NY LLC
268 Trump Drinks Israel Member Corp New York. NY Corporation
269 Trump Education ULC Nova Scotia (Canada) Corporation
270 Trump Empire State Inc. NewYork NY Corporation
271 Trump Endeavor 12 LLC (Trump National Doral) NewYork NY LLC
272 Trump Endeavor 12 Manager Corp NewYork NY Corporation
273 Trump EU Marks LLC NewYork NY LLC
274 Trump EU Marks Member Corp NewYork NY Corporation
275 The Trump Entrepreneur Initiative LLC (f/k/a Trump University CA LLC) New York, NY LLC
276 Trump Ferrv Point LLC NewYork NY LLC
277 Trump Ferrv Point Member Corp NewYork NY Corporation
278 Trump Florida Manaoement LLC New York, NY LLC
279 Trump Florida Manao:er Corp. NewYork NY Corporation
280 The Trump Follies LLC New York, NY LLC
283 Trump Golf Acouisilion LLC New York, NY LLC
284 Trump Golf Coco Beach LLC NewYork NY LLC
285 Trump Golf Coco Beach Member Corp NewYork NY Corporation
286 Trump Golf Manaoement LLC New York, NY LLC
287 Trump Home Marks LLC New York, NY LLC
288 Trump Home Marks Member Corp NewYork NY Corporation
289 Trump Ice LLC New York, NY LLC
290 Trump Ice, Inc. New York, NY Corporation
293 Trump International Development LLC New York, NY LLC
294 Trump International Development Member Corp New York, NY Corporation
295 Trump International Golf Club LC (Trump International Golf Club - Florida) Palm Beach, Florida LLC
296 Trump International Golf Club Scotland Limited Aberdeen, Scotland Foreion Entitv
297 Trump International Golf Club, Inc. Palm Beach, Florida Corporation
298 Trump International Holel and Tower Condominium New York, NY Condominium Association
299 Trump lnternalional Holel Hawaii LLC New York, NY LLC
President
President
PresidenUChalrman/Director
PresidenVMember
President
PresldenVMember
PresidenVChairman/Director
PresldenVMember
PresidenVChairman/Director
President
Director
Member & President
Member
PresidenVMember
PresidenVDirector
Member/President
PresldenVDlrector/Chairman
Member/President
PresldenVDlrector/Chalrman
Chairman/Director
Presldent!Treasurer/Director
President
PresidenVDireclor/Chairman
Member/PresldenUSecretarv!Treasurer
PresidenVDirector/Chalrman
Member
PresldenVMember
PresidenVDirector/Chairman
Member
Direclor/President
Member & President
Member/President
Member/President
Director/President
Member/President
Member/President
PresidenVDirector
PresidenVMember
Director/President
Member/President
PresidenVDfrec!or/Chairman
Member & President
Director & Chairman
PresidenVDirector/Secretarv!Treasurer
President
President
10/01/04 1/19/2017
October-04 1/19/2017
07/08/10 1/19/2017
06/28/10 1/19/2017
10/16/12 1/19/2017
10/23/12 1/19/2017
10/23/12 1/19/2017
06/24/10 10/17/2016
06/24/10 10/17/2016
08/29/07 1/19/2017
11/06/96 1/19/2017
1116/1996 & 11 /16/06 1/19/2017
11/21/01 1/19/2017
09/28/09 1/19/2017
09/28/09 1/19/2017
05/25/11 10/26/2015
05/25/11 10/22/2015
05/25/11 1/19/2017
05/25/11 1/19/2017
05/28/09 1/19/2017
04/18/94 1/19/2017
10/06/11 1/19/2017
10/06/11 1119/2017
08/04/11 1119/2017
08/04/11 1119/2017
05/14/09 1/19/2017
06/04/10 1/19/2017
06/04/10 1/19/2017
06/13/05 1/19/2017
06/10/05 1/19/2017
12/14/06 1/19/2017
04/23/10 1/19/2017
12/11/07 1/19/2017
12/11/07 1/19/2017
01/28/05 1/19/2017
11119/09 1/19/2017
11/19/09 1/19/2017
03/25/04 1119/2017
03/03/99 1/19/2017
11/29/10 1119/2017
11/29/10 1/19/2017
5/3/1997 & 11/1/13 1/1912017
1/24/06 & 3/13/06 1/1912017
12/09/96 1/19/2017
Seotember-98 1/19/2017
09/10/09 1/19/2017
Gaps in numerical sequence are due to the removal of prevlously reported items no longer reportable on this part.
OO""form17lk(~la1cl121ll~)
Instructions for Part 1
Note · This Is a publlc form Do not include account numbers street addresses or family member names See Instructions for required information.
Filer's Name
Donald J. Trump
Pm·t 1: Filer's Positions Held Outside United Stntcs Government
• I Orgnnization Name lcity/Stnte IOrgnnizntion Type I Po!ition Held
300 Trumo International Hotels Manaaement LLC NewYork NY LLC Presidenl/Member
301 Trumo International Manaaement Coro New York, NY Corooratlon PresidenUDlrector
304 Trumo Korean Proiects LLC NewYork NY LLC Member
305 Trumo Las Olas LLC NewYork NY LLC Member
306 Trumo Las Olas Member Coro NewYork NY Corooralion Director/President
307 Trumo Las Veoas Coro. Las Veaas, NV Corooration Director/President
308 Trumo Las Veaas Develooment LLC Las Veaas NV LLC Presidenl/Member
309 Trumo Las Veaas Manaaina Member LLC LasVeaas NV LLC PresidenVMember
312 Trumo Las Veaas Member LLC Las Veaas NV LLC Presidenl/Member
314 Trumo Las Veaas Sales & Marketina Inc Las Veaas, NV Corooration President
316 Trumo Lauderdale Develooment 2 LLC NewYork NY LLC Member
317 Trumo Lauderdale Develooment LLC New York, NY LLC President & Member
318 Trumo Manaoement Inc. NewYork NY Corooration Director & VP
319 Trumo Markelina LLC NewYork NY LLC Member/President
320 Trumo Marks Asia Coro NewYork NY Corooration Presidenl/Chairman/Dlrector
321 Trumo Marks Asia LLC NewYork NY LLC President
322 Trumo Marks Atlanta LLC NewYark NY LLC Member/President
323 Trumo Marks Allanla Member Coro NewYork NY Corooratlon PresidenUDlrector/Chalrman
324 Trumo Marks Saia Coro. NewYork NY Corooralion Presldenl/Dlrector
325 Trumo Marks Baia LLC NewYork NY LLC Member & President
326 Trumo Marks Batumi LLC NewYork NY LLC Member & President
327 Trumo Marks Batumi Member Coro NewYork NY Corooralion Presidenl/Dlrector/Chairrnan
328 Trumo Marks Beveraaes Coro NewYorl< NY Corooralion PresidenUDirector/Chalrman
329 Trumo Marks Beveraaes LLC New York, NY LLC Member/President
330 Trumo Marks Canouan Coro New York, NY Corooralion Presidenl/Director/Chairman
331 Trumo Marks Canouan LLC NewYork, NY LLC Member/President
332 Trumo Marks Chlcaao LLC NewYork NY LLC Member/President
333 Trumo Marks Chlcaao Member Coro New York, NY Corooration Presidenl/Director/Chairman
336 Trumo Marks Dubai Coro NewYork, NY Corooralion Presidenl/Director/Chairman
337 Trumo Marks Dubai LLC New York, NY LLC Presidenl/Member
338 Trumo Marks Eavot Coro NewYork NY Corooralion Presidenl/Dlrector/Chairman
339 Trumo Marks Eavot LLC NewYork NY LLC PresldenVMember
340 Trump Marks Fine Foods LLC NewYork NY LLC Presidenl/Member
341 Trump Marks Fine Foods Member Corp New York, NY Corporation Presidenl/Director/Chairman
342 Trump Marks Ft. Lauderdale LLC NewYork NY LLC Presldenl/Member
343 Trumo Marks Ft. Lauderdale Member Coro New York, NY Corporation Presldenl/Director/Chalrman
346 Trumo Marks GP Coro New York, NY Corooral!on Presldenl/Director/Chairman
347 Trumo Marks Holding LP IFKA Trumo Marks LP\ NewYork NY Partnershlo Partner
348 Trumo Marks Hollvwood Coro NewYork NY Corooralion Director/Chairmen/President
349 Trumo Marks Hollvwood LLC NewYork NY LLC Presidenl/Member
350 Trump Marks Istanbul II Coro. NewYork NY Corooration Director/Chairman/President
351 Trump Marks Istanbul II LLC NewYork NY LLC PresidenUMember
352 Trump Marks Jersey City Corp. New York, NY Corporation Director/President
353 Trump Marks Jersey City LLC NewYork, NY LLC PresidenUMember
354 Trumo Marks Las Veoas Coro New York, NY Corooration Dlrector/President
355 Trumo Marks Las Vegas LLC NewYork NY LLC PresidenUMember
IPnge Number
I 8 of 51
I From I To
06/13/06 1/19/2017
07/02/96 1/19/2017
05/04/99 1/19/2017
06/10/05 1119/2017
06/10/05 1/19/2017
12/04/09 1119/2017
10/10/02 1/19/2017
10/10/02 1/19/2017
10/01/02 1/19/2017
10/08/04 1/19/2017
09/08/04 1119/2017
1 /12/04 & 9/22/2003 1119/2017
04/22/69 1119/2017
02/10/11 1119/2017
03/03/08 1/19/2017
2129/200811/14/11 & 2/29108 1/19/2017
05/01108 1/19/2017
05/01/08 1/19/2017
06/13/07 10/22/2015
06/13/07 10/26/2015
3/3/11 & 3/9/11 1119/2017
03/09/11 1119/2017
09/25107 10/22/2015
09/25/07 10/26/2015
05/17/07 1119/2017
05117107 1/19/2017
04/14/10 1/19/2017
04/14/10 1/19/2017
06/13/07 1/19/2017
06/13/07 1/19/2017
09/17/07 1/19/2017
09/17/07 1/19/2017
09/11/09 1/19/2017
09/11/09 1/19/2017
11/06/07 1119/2017
11106/07 1/19/2017
07/12/05 1119/2017
05/25105 1/19/2017
04/10/07 1/19/2017
04/09107 1119/2017
03/19/08 1/19/2017
03/18/08 1/19/2017
06127107 111912017
06122107 1/19/2017
09/10/07 1/1912017
09/10/07 1/19/2017
Gaps In numerical sequence are due to the removal of previously reported Items no longer reportable on this part.
OOE f onn 171~ (Mmh 1014)
Instructions for Part 1
Note· This Is a public form Do not Include account numbers street addresses or family member names See Instructions for required information.
FiJe(sNnme
Donald J . Trump
Pna·t 1: Filel''s Positions Held Outside United States Government
• IOrgnnlzalion Nnme ICily/Stntc IOrgnnlznllon Type I Position Held
356 Trump Marks LLC NewYork NY LLC President
357 Trumo Marks Maaazine Coro New York, NY Corooratton Director/President
358 Trumo Marks Magazine LLC New York, NY LLC PresldenUMember
359 Trumo Marks Mattress LLC New York, NY LLC Presidenl/Member
360 Trump Marks Mattress Member Coro. New York, NY Corooration Director/Chairman/President
361 Trump Marks Menswear LLC NewYork NY LLC PresidenUMember
362 Trump Marks Menswear Member Corp NewYork NY Corooralion Director/President
363 Trump Marks Mortgage Corp. NewYork NY Corooralion PresldenVDlreclor
364 Trump Marks Mtg LLC New York, NY LLC PresidenUMember
365 Trumo Marks Mumbai LLC NewYork NY LLC PresidenUMember
366 Trumo Marks Mumbai Member Coro New York, NY Corporation PresidenUD!rector/Chalrman
369 Trumo Marks New Rochelle Coro. New York, NY Corporation Director/President
370 Trumo Marks New Rochelle LLC New York, NY LLC PresidenVMember
371 Trumo Marks Palm Beach Coro. NewYork NY Corooralion Director/President
372 Trumo Marks Palm Beach LLC NewYork NY LLC PresidenVMember
373 Trump Marks Panama Coro New York, NY Corooralion Director/President
374 Trump Marks Panama LLC New York, NY LLC PresidenUMember
375 Trump Marks Philadelphia Coro NewYork NY Corooretion Director/President
376 Trumo Marks Philadelohia LLC NewYork NY LLC PresidenUMember
377 Trumo Marks Philiooines LLC NewYork NY LLC PresidenUMember
378 Trumo Marks Philiooines Coro NewYork NY Corporation Director/President
379 Trumo Marks Products LLC NewYork NY LLC PresidenVMember
380 Trumo Marks Products Member Coro New York, NY Corooration PresidenVDirector/Chairman
381 Trump Marks Puerto Rico I LLC NewYork NY LLC PresidenUMember
382 Trump Marks Puerto Rico I Member Coro NewYork NY Corooralion Director/President
383 Trump Marks Puerto Rico II LLC New York, NY LLC PresidenUMember
384 Trumo Marks Puerto Rico 11 Member Coro New York, NY Corooralion PresidenVChairmanfDirector
385 Trumo Marks Punta def Este LLC NewYork NY LLC PresidenVMember
386 Trumo Marks Punta del Este Manaoer Coro NewYork NY Corooration PresldenVDirector/Chalrman
387 The Donald J. Trumo Comoanv LLC NewYork NY LLC Manaaer
388 The Trumo Marks Real Estate Coro NewYork NY Corooralion Chairman/Director & President
389 Trumo Marks Real Estate LLC NewYork NY LLC PresidenUMember
390 Trump Marks SOHO License Coro NewYork NY Coroorallon PresldenUChairman/Dlreclor
391 Trumo Marks SOHO LLC NewYork NY LLC PresidenUMember
394 Trumo Marks Stamford Coro New York NY Corooratlon Director/President
395 Trump Marks Stamford LLC NewYork NY LLC PresidenUMember
396 Trumo Marks Sunnv Isles I LLC NewYork NY LLC PresidenUMember
397 Trump Marks Sunnv Isles I Member Coro. NewYork NY Coroorellon Director/President
398 Trump Marks Sunnv Isles II LLC NewYork NY LLC PresidenUMember
399 Trump Marks Sunnv Isles II Member Coro. NewYork NY Coroorelion Director/President
400 Trump Marks Tamoa Com New York, NY Corooralion Director/President
401 Trumo Marks Tamoa LLC New York, NY LLC PresidenUMember
402 Trumo Marks Toronto Coro New York, NY Corooratlon Director/President
403 Trumo Marks Toronto LLC New York, NY LLC PresldenVMember
404 Trumo Marks Toronto LP ( fonnallv Trumo Toronto Manaoement LPl NewYork NY Partnershlo Partner
405 Trumo Marks Waikiki Coro New York, NY Coroorallon Director/President
IPnge Number
I 9 of 51
I From I To
02/28/05 1/19/2017
09/11/07 11/9/2016
09/11/07 11/9/2016
08107108 1119/2017
08107/08 1119/2017
08/24/09 1/19/2017
08/24/09 1/19/2017
06/19/07 1/19/2017
08/23107 111912017
10/11/10 1/1912017
10/11/10 111912017
06/13/07 1/19/2017
06/13/07 1/19/2017
06/12107 1/1912017
06/12/07 1/19/2017
04/26/07 1119/2017
04/26/07 1119/2017
04/18/07 1/19/2017
04/18/07 1/19/2017
03/03/08 1/19/2017
03/03108 1119/2017
09/13/10 1/19/2017
09/13/10 1119/2017
12/11/07 1/1 9/2017
12/11107 1/19/2017
07/08/08 11/9/2016
07/08/08 11110/2016
01/05/12 1119/2017
01/05/12 1119/2017
04/07/14 1/19/2017
02/23/07 1/19/2017
08/01/07 1/19/2017
06/11107 1/19/2017
06/11/07 1/19/2017
06/13/07 1/19/2017
06/13/07 1/19/2017
11/06/07 1/19/2017
11/06/07 1/19/2017
11/06/07 1119/2017
11106/07 1/19/2017
10/26/07 1/19/2017
10/26/07 1/19/2017
08109107 1/19/2017
08/09/07 1/19/2017
03/19/08 1/19/2017
04/10/07 1/19/2017
Gaps In numerical sequence are due to the removal of previously reported Items no longer reportable on this part.
OCIE F001121¥c(M.treh20 14)
Instructions for Part 1
Note· This Is a public form Do not Include account numbers street addresses or family member names See instructions for requ ired Information
Filer's Nnme
Donald J. Trump
Pnl't 1: Filer's Positions Held Outside United Stntes Government
II I Orgnnlzntion Nnmc IClly/Stntc ]Orgrmizntion Type
I Position Held
I Pnge Number
I 10 of SI
I F1·0111 I To
406 Trumo Marks Waikiki LLC NewYork NY LLC
407 Trumo Marks Westchester Coro. NewYork NY Corporation
408 Trumo Marks Weslchesler LLC New York, NY LLC
409 Trumo Marks While Plains Coro NewYork NY Corporation
410 Trumo Marks While Plains LLC NewYork NY LLC
411 Trumo Miami Resort Maneoement LLC NewYork NY LLC
412 Trumo Miami Resort Manaaement Member Coro NewYork NY Corooratlon
413 Trumo National Golf Club Calls Neck LLC NewYork NY LLC
414 Trumo National Golf Club Calls Neck Member Coro New York, NY Corooratlon
415 Trumo National Golf Club LLC ITrumo National Golf Club - Westchester) NewYork NY LLC
416 Trumo National Golf Club Member Coro NewYork NY Corooratlon
417 Trumo National Golf Club Washinaton DC LLC NewYork NY LLC
418 Trumo National Golf Club Washlnaton DC Member Coro. New York, NY Corporation
419 Trumo Ocean Manaaer Inc. NewYork NY Corporation
420 Trumo Ocean Manaalna Member LLC New York, NY LLC
421 Trumo Old Post Office LLC New York, NY LLC
422 Trumo Old Post Office Member Coro. NewYork NY Coroorallon
423 Trumo On the Ocean LLC New York, NY LLC
424 Trumo Oraanizalion LLC New York, NY LLC
425 The Trumo Oraanization lnc. New York, NY Corporation
426 Trumo Paaeants, Inc. New York, NY Corporation
427 Trumo Palace Condominium New York, NY Condominium Association
428 Trumo Palace/Pare LLC New York, NY LLC
429 Trumo Panama Condominium Manaaement LLC New York, NY LLC
430 Trumo Panama Condominium Member Coro New York, NY Corooration
431 Trumo Panama Hotel Manaaement LLC NewYork NY LLC
432 Trumo Panama Hotel Manaaement Member Coro New York, NY Corooratlon
433 Trumo Pare East Condominium NewYork NY Condominium Association
434 Trumo Park Avenue Acaulslllon LLC New York, NY LLC
435 Trumo Park Avenue LLC NewYork NY LLC
436 Trumo Pavroll Chicaao LLC New York, NY LLC
437 Trumo Pavroll Coro. NewYork NY Coroorallon
438 Trumo Phoenix Develooment LLC NewYork NY LLC
439 Trumo Plaza LLC NewYork NY LLC
440 Trumo Plaza Member Inc. IF/KIA Trumo Plaza Coro.) NewYork NY Corporation
442 Trumo Producllons LLC !former Rancho Lien LLC) New York, NY LLC
443 Trumo Production Manaaina Member Inc NewYork NY Coroorallon
444 Trumo Proiect Manaaement Coro. NewYork NY Corooralion
Trump Realty Services, LLC (f/k/a Trump Mortgage Services LLC (03) & Tower Mortgage
446 Services LLCl Palm Beach Florida LLC
447 Trumo Restaurants LLC New York, NY LLC
449 Trumo Riverside Manaaement LLC NewYork NY LLC
450 Trumo Ruffin Commercial LLC NewYork NY LLC
451 Trumo Ruffin LLC Las Veaas NV LLC
452 Trumo Ruffin Tower I LLC La s Veaas, NV LLC
453 Trumo Sales & Leasing Chlcaao LLC Chlcaao IL LLC
PresldenVMember
Director/President
PresidenVMember
Pres!denUDirector
PresldenUMember
PresldenUMember
PresidenUDlrector/Chalrman
PresldenVMember
PresldenVDirector/Chairman
President
Dlreclor/PresldenVChalrman
President
PresidenUChairman/Director
President
President
PresldenVMember
PresidenVDirector/Chairman
President
Chairman and PresidenUMember
Director/Pres\denUChairman
Director & Chairman/President
President
Member
PresidenVMember
PresidenUDlrector/Chalrman
Member
PresidenVDirector/Chalrman
President
Member/President
President
President
PresidenVTreasurer/Secretarv/Director
PresidenVMember
Member
Director/PresidenVTreasurer
Member/President
Olrector/Chalrman/PresldenVTreasurer/Secretarv
President
PresldenUMember
PresidenVMember
Member
President
President
President & Director
Member/President
04/09/07 1/1912017
06113107 1/1912017
06/13107 111912017
06/13/07 1/1912017
06/13/07 1119/2017
03122/12 111912017
03/22/12 1/1912017
07110108 1/1912017
07/f0/08 1/19/2017
08/02/00 111912017
11109/11 111912017
02103109 1/1912017
02/03109 111912017
09/14106 11/10/2016
08/31106 10/27/2015
06130/11 1/19/2017
06130/11 1/1912017
9/14106 & 212712007 1012812015
211109 & Auoust,2000 111912017
05101/81 1/1912017
10116/96 & 5/1106 111912017
03127191 111912017
10/01/96 1119/2017
12113/10 1119/2017
12113/10 1/1912017
08105/10 1/1912017
08105/10 1/1912017
04/30198 111912017
Nov. 2004 111912017
01/31102 1119/2017
08/29107 1119/2017
04/16/96 1/1912017
08/28103 111912017
10/27/97 1/19/2017
06102104 1/1912017
05/18/06 1/1912017
05/18/06 1/1912017
04/16/96 11/10/2016
05/09/00 111912017
07131112 111912017
09/26100 1119/2017
07/25/07 1119/2017
10/22102 1/19/2017
4/812005 & 7112105 1/1912017
10120/09 & 10121/09 1/1912017
Gaps in numerical sequence are due to the removal of previously reported Items no longer reportable on this part.
()(JE l'ann l111c (M.mh 201-1)
Instructions for Part 1
Note· This is a public form Do not Include account numbers street addresses or family member names See Instructions for required information
Filcr'sNnmc
Donald J. Trump
Pnl't 1: Filel' 1 S Positions Held Outside United Stntes Government
• IOrgnnlznlion Nnme I Clty/Stntc I Orgnnlzn11on Ty1,c
I Posllion Held
IPnge Number
I 11 of SI
I From I To
454 Trumo Sales & Leasin!l ChicaQo Member Coro Chicaoo IL Comoratlon
455 Trumo Scotland Member Inc Aberdeen Scotland Comoratlon
456 Trumo Scotsborouoh SQuare LLC Scolsborouoh Sq. VA LLC
457 Trumo Scotsborouah Sauare Member Coro. Scolsborough Sq. VA Corporation
458 Trumo SoHo Hotel Condominium New York New York, NY Condominium Association
459 Trumo Soho Member LLC NewYork NY LLC
460 Trumo Toronto Develooment Inc NewYork NY Corporation
461 Trumo Toronto Hotel Manaqement Coro. Toronto CA Corporation
462 Trumo Toronto Member Coro. Cformallv Trumo Toronto Manaaement Member Coro} NewYork NY Corporation
463 Trumo Tower Commercial LLC NewYork NY LLC
464 Trumo Tower Condominium Resldenllal Section NewYork NY Condominium Association
465 Trumo Tower Manaaina Member 1nc New York, NY Corooralion
466 Trumo Villaae Construcllon Coro. NewYork NY Corooralion
467 Trumo Vinevard Eslates LLC NewYork NY LLC
468 Trumo Vinevard Estates Manaaer Coro. NewYork NY Corooralion
469 Trumo Vinevard Estates Lot 3 Owner LLC (fka Eric Trumo Land Holdinas LLC) NewYork NY LLC
470 Trumo Vinevard Estates Manaoer Coro NewYork NY Corporalion
471 Trumo Virainia Acauisitlons LLC (fka Vlroinla Acaulsitlons LLC) NewYork NY LLC
472 Trumo Virainia Acauisilions Manaaer Coro. NewYork NY Corooration
473 Trumo Virainia Lot 5 LLC NewYork NY LLC
474 Trumo Viralnia Lot 5 Manaaer Coro. NewYork NY Coro oration
475 Trumo Wine Marl<s LLC NewYork NY LLC
476 Trumo Wine Mari<s Member Coro. NewYork NY Corooration
477 Trumo World Productions LLC NewYork NY LLC
478 Trumo World Productions Manaaer Coro NewYork NY Corporation
479 Trumo World Publlcalions LLC New York, NY LLC
480 Trumo/New World Procertv Manaaement LLC NewYork NY LLC
481 Trumo's Castle Manaaement Coro Allantlc Cllv, NJ Corooration
482 Trumo Marks White Plains Coro NewYork NY Corporation
484 Tumberrv Scotland Manaaina Member Coro Tumberrv. Scotland Corooratlon
485 Tumberrv Scotland LLC Tumberrv. Scotland LLC
486 TW Venture I LLC Palm Beach, Florida LLC
487 TW Venture II LLC Doonbeo. Ireland LLC
488 TW Venture I Menaaina Member Coro Palm Beach Florida Corooratlon
489 TW Venture II Manaaina Member Corp Doonbeo. Ireland Corporation
490 Ultimate Air Coro. New York, NY Corooration
491 Unit 2502 Enterorises Com Chicago, IL Corporation
492 Unit 2502 Enterorises LLC Chicaao IL LLC
493 VH Prooertv Coro ffrumo National Golf Club - Los Anaeles) Los Anoeles, CA Corooralion
494 VHPS LLC Los Anaeles, CA LLC
495 West Palm Ooerations LLC WPS, Florida LLC
496 Wexford Hall Inc. New York, NY Corooration
497 White Course LLC Miami, Florida LLC
498 While Course Managing Member Coro Miami, Florida Corooralion
499 Wilshire Hall LLC New York, NY LLC
500 Wollman Rink Ooeralions LLC New York, NY LLC
Member/Director/President
Oirector/PresidenVChairman
President
PresidenVChairman/Dlrector
Member of the Soard
Member/President
PresldenUOirector/Secretarv
President
Director/Chairman
President
President
President
DlrectorNice President
President
PresldenUDlrector/Chalrman
President
PresidenVDlrector/Chalrman
Member/President
PresidenVDlrector/Chairman
President
PresldenVDirector/Chalrman
PresldenVSecretarvrrreesurer
Director & Chairman/ President
Member/President
Director/Chairman/President
Member/President
President
President
PresldenUDlrector
Director/Chairman/President
President
President
President
PresidenUOirector/Chalrman
PresidenUDirector/Chalrman
PresidenVTreasurer/Secretarv/Dlrector
PresidenVDirector
Member/President
Secretarv/PresidenVDirector
PresidenVMember
Member/President
DirectorNice President
President
Director/Chairman/President
Member
Member/President
10/20/09 & 10/21/09 & 10/21/09 1/19/2017
03/01106 1/19/2017
07/07/11 1/19/2017
07/07/11 1/19/2017
08/03/07 1/19/2017
04/24/06 1/19/2017
04/02/03 1/19/2017
05/30/08 1/19/2017
03/19/08 1119/2017
12/22/97 1/19/2017
03/23/83 1/19/2017
12/22/97 1/19/2017
08/01169 1/19/2017
03/18/11 1/19/2017
03/18/11 1119/2017
08/15/11 1/19/2017
03/18/11 1/19/2017
3/4/2011 & 1 /25/11 1/19/2017
03/15/11 1/19/2017
06/28/11 1/19/2017
06/28/11 1/19/2017
06/21/11 1/19/2017
6/21/2011 & 6/21108 1/19/2017
09/29/11 1/19/2017
09/29/11 1119/2017
09/29/11 1/19/2017
11/22/00 1/19/2017
03/24/92 1119/2017
06/13/07 1/19/2017
04/09/14 1119/2017
04/09/14 1119/2017
11119/13 1/19/2017
01/31114 1/19/2017
11119/13 1/19/2017
01/31/14 1/19/2017
4/16/96 &12/9/1993 1/19/2017
07/21/08 1/19/2017
7/16/08 & 7/18/08 1/19/2017
9/22/00 & 12/2/02 11126/02 & 11/25/02 1/19/2017
5/28/08 & 12/1104 1/19/2017
8/27110 & 9/1110 1/19/2017
08/01/69 1/19/2017
03/20/12 1/19/2017
03/20/12 1/19/2017
11/22/95 1/19/2017
9/24/01 & 1111/01 1/19/2017
Gaps in numerkal sequence are due to the removal of previously reported Items no longer reportable on this part.
OOF. Fom1 21 1t~
(J.fat.:h2014)
Instructions for Part 1
Note· This ls a public form Do not include account numbers street addresses or family member names See Instructions for required Information
filer's Nome
Donald J. Trump
Part 1: Filer's Positions Held Outside United Stntcs Govcl'nment
IOl'gnnizntion Nmnc ICl!y/Slnle I Orgnnlzntlon Type
""
501 Yorktown Real Estate LLC {F/KJAJ Yorktown Development Associates LLC) NewYork NY LLC
502 The Fred C. Trump December 16, 1976 Trust- F/B/0 Donald J. Trump NewYork NY Trust
504 The Fred C. Trump December 16 1976 Trust- F/B/0 Robert S. Trump NewYork NY Trust
505 The Fred C. Trump December 16, 1976 Trust- F/B/0 Ellzabelh J. Trump NewYork NY Trust
509 Fred C. Trump, GRAT Trust- F/B/0 Ellzabelh Trump Grau NewYork NY Trust
510 Trust U/W/O Fred C. Trump- F/B/0 Elizabeth Trump Grau NewYork NY Trust
511 Marvanne Trump GRAT Trust- F/B/0 Elizabelh Trump Grau NewYork NY Trust
512 Trust U/W/O Fred C. Trump- F/B/0 the orandchlldren of Fred C. Trump NewYork NY Trust
The Donald J. Trump grantor Tru st - DJT is the Trustee Successor- Trustee Is Donald J.
514 Trumo. Jr. NewYork NY Trust
515 The Donald J. Trump Revocable Trust New York, NY Trust
516 The Police Athlellc Leaaue Inc. NewYork NY Non profit
517 OT Bali Golf Manaaer LLC NewYork NY LLC
518 OT Bali Golf Manaaer Member Corp NewYork NY Corporallon
519 OT Bali Hotel Manaaer LLC NewYork NY LLC
520 OT Ball Hotel Manaaer Member Corp NewYork NY Corporallon
521 OT Ball Technical Services Manaaer LLC NewYork NY LLC
522 OT Bali Technical Services Manaaer Member Coro New York. NY Corooratlon
523 OT Connect Europe Llmiled Turnberrv. Scolland Forelan Entltv
524 OT Endeavor I LLC NewYork NY LLC
525 OT Endeavor 1 Member Coro NewYork NY Corporallon
526 OT Jeddah Technical Seivices Advisor LLC NewYork NY LLC
527 OT Jeddah Technical Services Advisor Member Coro New York NY Corooratlon
528 OT Jeddah Technical Seivices Manaaer LLC New York, NY LLC
529 DT Jeddah Technical Services Manaoer Member Coro New York, NY Corporation
530 OT lido Golf Manaaer LLC New York, NY LLC
531 OT Udo Golf Manaaer Member Coro New York, NY Corporation
532 OT lido Hotel Manaaer LLC New York, NY LLC
533 OT Lido Hotel Manaaer Member Corp New York, NY Corporation
534 OT lido Technical Services Manaaer LLC NewYork NY LLC
535 OT Lido Technical Services Manaaer Member Coro New York, NY Corooration
536 OT Marks Bali LLC New York, NY LLC
537 DT Marks Bali Member Coro New York, NY Corooratlon
538 OT Marks lido LLC New York, NY LLC
539 OT Marks Lido Member Coro NewYork NY Corooratton
540 OT Tower I LLC New York, NY LLC
541 OT Tower I Member Com New York, NY Corooratlon
542 OT Tower II LLC New York, NY LLC
543 OT Tower II Member Coro New York, NY Corooration
544 OT Tower Kolkata LLC NewYork NY LLC
545 OT Tower Kolkata Manaaina Member Coro New York. NY Corooration
546 OT Venture I LLC NewYork NY LLC
547 OT Venture I Member Coro NewYork NY Corooration
548 OT Venture II LLC NewYork NY LLC
549 OT Venture II Member Coro New York, NY Corooralion
550 DTTM OPeralions LLC NewYork NY LLC
I Position Held
Member/President
Trustee
Trustee
Trustee
Trustee
Trustee
Trustee
Trustee
Trustee
Trustee
Member of the Board
President
Director/Chairmen/President
President
Director/Chairman/President
Member/President
Dlreclor/Chalrman/Presldent
Director
President
Director/Chairman/President
Member/President
Director/Chairman/President
Member/President
Director/Chairman/President
President
Director/Chairman/President
President
Director/Chairman/President
Member/President
Director/Chairman/President
Member/President
Dlreclor/Chalrman/Presldent
Member/President
Director/Chairman/President
Member/President
Director/Chairman/President
President
Director/Chairman/President
Member/President
Director/Chairman/President
President
Director/Chairman/President
President
Director/Chairman/President
Member/President
IPnge Number
I 12 of 51
I From I To
09/30/97 1119/2017
December-76 1119/2017
December-76 1/19/2017
December-76 1/19/2017
November-97 1/19/2017
April-01 1119/2017
November-97 1119/2017
April-01 1119/2017
November-97 12/31/2016
April-14 1/19/2017
Julv-86 1/19/2017
06/23/15 1119/2017
06/23/15 1119/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
02/13/15 1/1 9/2017
01/04/16 1/19/2017
01/04/16 1/19/2017
08/21115 10/26/2015
08/21115 10/22/2015
08/31/15 11/15/2016
08/31/15 11/15/2016
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1119/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
06/23/15 1/19/2017
01/04/16 1/19/2017
01/04/16 1/19/2017
01/04/16 1/19/2017
01/04/16 1/19/2017
11/25/15 1/19/2017
11/25/15 1/19/2017
01/04/16 1/19/2017
01/04/16 1/19/2017
01/04/16 1/19/2017
01/04/16 1/19/2017
01/15/16 1/19/2017
Gaps In numerical sequence are due to the removal of previously reported Items no longer reportable on this part.
0<1 F. l'om1 2 7ll' ~ (M '""k 2014)
Instructions for Part 1
Note · This Is a publlc form Do nol lndude account numbers street addresses or family member names See Instructions for required information
Piler'sNnme
Donald J. Trump
Pnrt 1: Filer's Positions Hehl Outside United Stntes Government
• I Org1111iz11tlo11 Nnmc IClty/Slnlc IOl'gnnizntion Type
551 DTIM Ooeralions Manaolno Member NewYork NY Coroorallon
552 EID Venlure II LLC NewYork NY LLC
553 EID Venture II Member Coro New York NY Corooration
554 Mobile Pavroll Construclion LLC New York NY LLC
555 Mobile Pavroll Construction Manaoer Coro New York, NY Corooratlon
556 THC DC Reslaurant Hosoitalitv LLC NewYork NY LLC
557 THC Jeddah Hotel Advisor LLC New York, NY LLC
558 THC Jeddah Hotel Advisor Member Coro New York, NY Coroorallon
559 THC Jeddah Hotel Manaoer LLC New York, NY LLC
560 THC Jeddah Hotel Manaoer Member Coro New York. NY Corooratlon
561 C DEVELOPMENT VENTURES LLC New York, NY LLC
562 C DEVELOPMENT VENTURES MEMBER CORP NewYork NY Coroorat!on
563 TC MARKS BUENOS AIRES LLC NewYork NY LLC
564 WMTMFLLC NewYork NY LLC
565 Laminaton Farm Club LLC (TRUMP NATIONAL GOLF CLUB - BEDMINSTER)' Bedminster NJ LLC
IPnge Number
I 13 of51
] Position Held I From
Director/Chairman/President 01/15/16
Member/President 01/04/16
Director/Chairman/President 01/04/16
Member/President 06/04/15
Dlrector/Chairman/President 06/04/15
President 08/17/15
Member/President 08/21/15
Director/Chairman/President 08/21/15
Member/President 08/31/15
Director/Chairman/PreSident 08/31/15
PresidenUMember 04/06/16
PresldenUDirector/Chairman 04/06/16
PresidenVMember 04/20/16
PresldenUSecretarvffreasurer/Manaaina Member 09/24/15
President 02/11/00
I
To
1/19/2017
1/19/2017
1/19/2017
1/19/2017
1/19/2017
111912017
10/26/2015
10/22/2015
11/15/2016
11/15/2016
1/19/2017
1/19/2017
1/19/2017
1/19/2017
1/19/2017
Gaps in numerical sequence are due to the removal of previously reported items no longer reportable on this part. The entry marked with an• is hereby incorporated into the 2016 and 2015 reports to amend those reports .
OGE Form 278e (March 2014)
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Name
Donald J . Trump
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type
(Part 2 - EXHIBIT A)
Reference#
002 40 Wall Street LLC N/A 005 Over $50,000,000 rent
Underlying Assets: commercial real estate
Location: New York, NY
See attached schedule
004 401 North Wabash Venture LLC N/A 008 Over $50,000,000 rent
Underlying Assets: residential & commercial real estate
Location: Chicago, IL
See attached schedule
condo sales
Income Amount
Over $5,000,000
Over $5,000,000
I Page Number
I 14 of 51
$90,249
005 809 NORTH CANON LLC N/A 009 $5,000,001 - $25,000,000
Underlying Assets: residential real estate
Location: Beverly Hills, CA
See attached schedule
None (or less than $201)
007 845 UN Limited Partnership N/A 012 $5,000,001 - $25,000,000 rent
Underlying Assets: commercial real estate
Location : New York, NY
See attached schedule
008 Caribusiness Investments, S.R.L. N/A 025 $1 ,000,001 - $5,000,000
Underlying Assets: land
Location: Dominican Republic
See attached schedule
010 Country Apartments, LLC NIA 032 $1 ,001 - $15,000
Value reported reflects bank account holding only.
Additional Undertying Asset: none
Entity set up to buy & sell residential real estate, New Yori<, NY; See attached schedule
$1 ,000,001 - $5,000,000
None (or less than $201)
None (or less than $201)
Oil Country Properties, LLC N/A 034 $50,001 - $100,000
Underlying Assets: residential real estate
Location : Norfolk, VA
See attached schedule
012 D B Pace Acquisition, LLC N/A 036 $1,000,001 - $5,000,000
Underlying Assets: land, building and ff&e
Location: New York, NY
See attached schedule
None (or less than $201)
None (or less than $201)
THE ACCOMPANYING SCHEDULE {PART2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps In numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name
Donald J . Trump
I
I
Page Number
15 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Refc1·ence #
013 DJT AEROSPACE LLC N/A 039 $1 ,000,001 - $5,000,000 rent None (or less than $201)
Underlying Assets: aircraft
Location: New York, NY
See attached schedule
014 DJT HOLDINGS LLC N/A 042 $1,000,001 - $5,000,000 interest $15,001 - $50,000
Value reported reflects bank account only. Entity's other holdings and
assets are reported elsewhere; see attached schedule. Holding company,
New York, NY
017 DJT OPERATIONS I LLC N/A 046 Over $50,000,000 rent $1 ,000,001 - $5,000,000
Underlying Assets: aircraft
Location : New York, NY
See attached schedule
018 DT CONNECT II LLC N/A 055 $1,000,001 - $5,000,000 None (or less than $201)
Underlying Assets: aircraft
Location: Palm Beach, FL
See attached schedule
020 OT DUBAI GOLF MANAGER LLC N/A 059 $1,001 - $15,000
Value reported reflects bank account holding only.
Additional Underty\ng Asset: managemenl deal with DAMAC CRESCENT
PROPERTIES UC - value not readily ascertainable.
ManaQement companv Dubai UAE· See attached schedule.
management fees $12,984
021 DT HOME MARKS INTERNATIONAL LLC N/A 063 $1 ,001 - $15,000 royalties $100,001 - $1 ,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with RNA RESOURCES
GROUP LTD, DORYA INTERNATIONAL LLC, HOMESTUDIO
INTERNATIONAL SA, WONU CO LTD - value not readily
ascertainable.
License holder, New York, NY; See attached schedule.
024 Excel Venture I LLC N/A 098 $25,000,001 - $50,000,000 rent $100,001 - $1,000,000
Underlying Assets: residential rental property
Location: St. Martin, French West Indies
See attached schedule
026 Fifty-Seventh Street Associates LLC N/A 100 Over $50,000,000 rent Over $5,000,000
Underlying Assets: commercial real estate
Location: New York, NY
See attached schedule
THE ACCOMPANYING SCHEDULE(PART2- EXHIBIT A} IS AN INTEGRALPARTOFTHE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name
Donald J. Trump
I
I
Page Number
16 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXIDBIT A)
Reference#
030 TRUMP NATIONAL GOLF CLUB - JUPITER N/A 117 Over $50,000,000
Underlying Assets: golf club
Location: Jupiter, FL
See attached schedule golf related revenue $20,131,872
031 LAMINGTON FAMILY HOLDINGS LLC N/A 119 $100,001 - $250,000 None (or less than $201)
Underlying Assets: land
Location: Bedminster, NJ
See attached schedule
032 TRUMP NATIONAL GOLF CLUB - BEDMINSTER N/A 120 Over $50,000,000
Underlying Assets: golf club
Location: Bedminster, NJ
See attached schedule golf related revenue $19,752,500
034 MAR-A-LAGO CLUB, L.L.C. N/A 126 Over $50,000,000
Underlying Assets: resort
Location: Palm Beach, FL
See attached schedule resort related revenue $37,251 ,635
036 PINE HILL DEVELOPMENT LLC N/A 142 $100,001 - $250,000 None (or less than $201)
Underlying Assets: golf club
Location: Pine Hill, NJ
See attached schedule
037 Seven Springs LLC N/A 153 $25,000,001 - $50,000,000 interest $2,501 - $5,000
Underlying Assets: real estate
Location: Mt. Kisco, NY
See attached schedule
038 TRUMP TURNBERRY N/A 157 Over $50,000,000
Underlying Assets: golf courses and resort
Location: Turnberry, Scotland
See attached schedule golf related revenue $14,487,619
039 T International Realty LLC N/A 160 $250,001 - $500,000
Value reported reflects bank account holding only.
Additional Underlying Asset: brokerage company - value not readily
ascertainable. Brokerage company, New York, NY; See attached schedule
commissions $3,374,860
040 THC CENTRAL RESERVATIONS LLC N/A 167 $50,001 - $100,000 None (or less than $201)
Underlying Assets: hotel company
Location: New York, NY
See attached schedule
THE ACCOMPANYING SCHEDULE (PART2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVE AND SHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerfcal
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name
Donald J. Trump
I
I
Page Number
17 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF nttnched schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
041 THC CHINA DEVELOPMENT LLC NIA 169 $1,001 - $15,000 None (or less than $201)
Value reported reflects bank account holding only.
Additional Underlying Asset: developer - value not readily
ascertainable. Developer, New York, NY; See attached schedule
042 THC SALES & MARKETING LLC NIA 184 $100,001 - $250,000 None (or less than $201)
Value reported reflects bank account holding only.
Additional Underlying Asset: management company - value not
readily ascertainable. Management company, New York, NY; See
attached schedule
043 The East 61 Street Company, LP NIA 199 $5,000,001 - $25,000,000 None (or less than $201)
Underlying Assets: residential real estate
Location: New York, NY
See attached schedule
044 THE TRUMP CORPORATION NIA 200 Over $50,000,000
Underlying Assets: management company
Location: New York, NY
See attached schedule management and $18,045,141
related fees
045 The Trump-Equitable Fifth Avenue Company NIA 208 $1 ,001 - $15,000 rent $100,001 - $1 ,000,000
Value reported reflects bank account only. Entity's other holdings
and assets are reported elsewhere; see attached schedule. Passthru
entity, New York, NY
046 TRUMP INTERNATIONAL GOLF LINKS - DOONBEG NIA 211 $5,000,001 - $25,000,000
Underlying Assets: golf course and resort
Location: Doonbeg, Ireland
See attached schedule golf related revenue $12,498, 172
047 TIHT COMMERCIAL LLC NIA 218 $5,000,001 - $25,000,000 rent $1 ,000,001 - $5,000,000
Underlying Assets: commercial real estate
Location: New York, NY
See attached schedule
048 TIHT HOLDING COMPANY LLC NIA 219 $1 ,000,001 - $5,000,000 rent $100,001 - $1 ,000,000
Underlying Assets: hotel condo unit
Location: New York, NY
See attached schedule
049 TRUMP NATIONAL GOLF CLUB - CHARLOTTE NIA 223 $5,000,001 - $25,000,000
Underlying Assets: golf club
Location: Charlotte, NC
See attached schedule golf related revenue $15,016,404
050 TRUMP NATIONAL GOLF CLUB - HUDSON VALLEY NIA 225 $5,000,001 - $25 ,000,000
Underlying Assets: golf club
Location: Hopewell Junction, NY
See attached schedule golf related revenue $5,323,573
THE ACCOMPANYING SCHEDULE (PART2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 18 of 51
Pat't 2: Filer's Employment Assets and Income
# Descl'iption EIF attached schedule Value Income Type Income Amount
(Pal't 2 - EXHIBIT A)
Refet'ence #
051 TRUMP NATIONAL GOLF CLUB - PHILADELPHIA NIA 229 $5,000,001 - $25,000,000
Underlying Assets: golf club
Location: Pine Hill, NJ
See attached schedule golf related revenue $5,258,866
052 TRUMP 106 CPS LLC NIA 234 $15,001 - $50,000 None (or less than $201)
Value reported reflects bank account holding only.
Additional Underlying Asset: none
Location: New York, NY; See attached schedule
055 TRUMP 845 UN MGR CORP NIA 237 $1 ,001 - $15,000 None (or less than $201)
Value reported reflects bank account holding only. Entity's other
holdings and assets are reported elsewhere; see attached
schedule. Pass-thru entity. New York, NY
057 TRUMP BOOKS LLC NIA 243 None (or less than $1 ,001) royalties $5,001 - $15,000
THE MIDAS TOUCH
Value reported reflects bank account holding only.
Additional Underlying Asset: book deal with Plata Publishing LLC -
value not readily ascertainable.
Holder of book contract, New York, NY,
See attached schedule
(Published 2011)
059 TRUMP CAROUSEL LLC NIA 250 $15,001 - $50,000
Value reported reflects bank account holding only.
Additional Underlying Asset: operating agreement with NEW YORK
CITY DEPARTMENT OF PARKS & RECREATION - value not admissions $671 ,728
readily ascertainable.
Carousel operator, New York, NY.
See attached schedule
061 TRUMP CPS LLC NIA 269 $25,000,001 - $50,000,000 rent $1,000,001 - $5,000,000
Underlying Assets: commercial and residential real estate
Location: New York, NY
See attached schedule condo sales $3,170,000
064 TRUMP NATIONAL DORAL NIA 279 Over $50,000,000
Underlying Assets: golf courses & resort
Location: Miami, FL
See attached schedule golf resort related $115,865,590
revenues
065 TRUMP FERRY POINT LLC NIA 283 $5,000,001 - $25,000,000
Underlying Assets: operating agreement with NEW YORK CITY
DEPARTMENT OF PARKS & RECREATION - golf course
Location: New York, NY golf related revenue $7 ,300,157
See attached schedule
(Opening Day: April 1, 2015)
THE ACCOMPANYING SCHEDULE (PART2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name I Page Number
Donald J . Trump I 19 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
066 TRUMP GOLF ACQUISITIONS LLC NIA 287 $1,001 - $15,000
Value reported renects bank account holding only.
Additional Undertying Asset: none
Enllty set up to sign letters of Intent fOf golf related deels, New YOfk, NY; See attached
schedule
golf related revenue $17,539
067 TRUMP HOME MARKS LLC NIA 291 None (or less than $1,001) royalties $15,001 - $50,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with DOWNLITE
INTERNATIONAL INC, GOURMET HOME PRODUCTS LLC,
NORTHPOINT TRADING LLC, SIGN OF TIMES INC, TPS SAS -
value not readily ascertainable .
License holder, New York, NY
See attached schedule
068 TRUMP ICE LLC NIA 294 $1 ,001 - $15,000
Value reported reflects bank account holding only.
Additional Underlying Asset: wholesale company - value not readily
a scertainable. Water wholesaler, New York, NY; See attached schedule sales $396,161
069 TRUMP INTERNATIONAL GOLF LINKS- SCOTLAND NIA 297 Over $50,000,000
Underlying Assets: golf course
Location: Aberdeen, Scotland
See attached schedule golf related revenue $3,803,033
070 TRUMP INTERNATIONAL GOLF CLUB - FLORIDA NIA 299 $25,000,001 - $50,000,000
Underlying Assets: golf club
Location: West Palm Beach, FL
See attached schedule golf related revenue $18,411 ,472
071 TRUMP INTERNATIONAL HOTEL HAWAII LLC NIA 300 $1 ,001 - $15,000 royalties $100,001 - $1,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: management and license agreements
with IRONGATE AZREP BW LLC - value not readily ascertainable. management fees $2,538,973
License holder, Waikiki , HI
See attached schedule
072 TRUMP INTERNATIONAL HOTELS MANAGEMENT LLC NIA 301 Over $50,000,000
Underlying Assets: management company
Location: New York, NY
See attached schedule management fees $2,888,093
073 TRUMP LAS VEGAS DEVELOPMENT LLC NIA 308 $1 ,000,001 - $5,000,000 development fees
Underlying Assets: development deal with TRUMP RUFFIN TOWER I LlC Entity
set up to receive development fees, Las Vegas, NV; See attached schedule
$8,154,142
074 TRUMP LAS VEGAS MEMBER LLC NIA 310 None (or less than $1 ,001)
Value reported reflects bank account holding only. Entity's other
holdings and assets are reported elsewhere; see attached
sponsor fee
schedule. Pass-thru entity. Las Vegas, NV $2,631 ,300
THE ACCOMPANYING SCHEDULE(PART2- EXHIBIT A) IS AN INTEGRALPARTOFTHE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name
Donald J. Trump
I
I
Page Number
20 of 51
Pal't 2: Filel''s Employment Assets and Income
# Description ElF attached schedule Value Income Type. Income Amount
(Part 2 - EXHIBIT A)
Reference#
076 TRUMP MARKS ASIA LLC NIA 316 $500,001 - $1 ,000,000 None (or less than $201)
Underlying Assets: residential real estate
Location: Sterling, VA
See attached schedule
078 TRUMP MARKS ISTANBUL II LLC NIA 342 $15,001 - $50,000 royalties $1 ,000,001 - $5,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with ORTADOGU
OTOMOTIV TICARET AS - value not readily ascertainable.
License holder, New York, NY
See attached schedule
079 TRUMP MARKS LLC NIA 347 $15,001 - $50,000 royalties $50,001 - $100,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with ELK LIGHTING INC -
value not readily ascertainable. License holder, New York, NY
See attached schedule
080 TRUMP MARKS MATIRESS LLC NIA 350 None (or less than $1 ,001) royalties $100,001 - $1 ,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with SERTA - value not
readily ascertainable. License holder, New York, NY
See attached schedule
081 TRUMP MARKS MENSWEAR LLC NIA 352 None (or less than $1,001) royalties $100,001 - $1 ,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with PVH CORP,
PEERLESS CLOTHING INTERNATIONAL, PARLUX LTD,
OXFORD OPTHALMIC, RANDA ACCESSORIES - value not readily
ascertainable. License holder, New York, NY
See attached schedule
082 TRUMP MARKS NEW ROCHELLE LLC NIA 359 None (or less than $1,001) royalties $5,001 - $15,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with NEW ROC PARCEL
1A LLC - value not readily ascertainable. License holder, New
York, NY
See attached schedule
083 TRUMP MARKS PANAMA LLC NIA 363 None (or less than $1 ,001) royalties $100,001 - $1 ,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with K GROUP
DEVELOPERS INC - value not readily ascertainable. License
holder, New York , NY
See attached schedule
THE ACCOMPANYING SCHEDULE (PART 2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVE AND SHOLi LD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported Is as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 21of51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXIDBIT A)
Reference#
087 TRUMP MARKS WAIKIKI LLC N/A 391 None (or less than $1 ,001) royalties $100,001 - $1 ,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with IRONGATE AZREP
BW LLC - value not readily ascertainable. License holder, New
York, NY
See attached schedule
090 TRUMP MIAMI RESORT MANAGEMENT LLC N/A 396 $1 ,000,001 - $5,000,000 None (or less than $201)
Value reported reflects bank account holding only.
Management company - value not readily ascertainable, Miami, FL;
See attached schedule
091 TRUMP MODEL MANAGEMENT LLC N/A 398 $250,001 - $500,000
Value reported reflects bank account holding only.
Modeling agency - value not readily ascertainable, New York, NY;
See attached schedule commissions $1 ,870,632
092 TRUMP NATIONAL GOLF CLUB - COLTS NECK N/A 399 Over $50,000,000
Underlying Assets: golf club
Location: Colts Neck, NJ
See attached schedule golf related revenue $7,708,047
093 TRUMP NATIONAL GOLF CLUB - WESTCHESTER NIA 401 Over $50,000,000
Underlying Assets: golf club
Location: Briarcliff Manor, NY
See attached schedule golf related revenue $9,771,428
094 TRUMP NATIONAL GOLF CLUB - WASHINGTON DC N/A 403 Over $50,000,000
Underlying Assets: golf club
Location: Potomac Falls, VA
See attached schedule golf related revenue $17,508,270
095 TRUMP OLD POST OFFICE LLC N/A 408 Over $50,000,000
Underlying Assets: hotel
Location: Washington , DC
See attached schedule hotel related revenue $19,666,129
097 Miss Universe L.P., LLLP N/A 413 $50,001 - $100,000
Value reported reflects ba nk account holding only.
Additional Underlying Asset: none
See attached schedule beauty pageant related $10,973,722
revenue
098 TRUMP PALACE/PARC LLC N/A 414 $1,000,001 - $5,000,000 rent $100,001 - $1 ,000,000
Underlying Assets: commercial real estate
Location : New York, NY
See attached schedule
THE ACCOMPANYING SCHEDULE(PART2- EXHIBIT A} IS AN INTEGRAL PART OF THE ABOVEAND_SHOULO BE READ IN CONJUNCTIONTHEREWlTH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported rs as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 22 of 51
Part 2: Filer's Employment Assets and Income
II Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXfilBIT A)
Reference II
099 TRUMP PARK AVENUE LLC NIA 420 Over $50,000,000 rent Over $5,000,000
Underlying Assets: residential & commercial real estate
Location: New York, NY
See attached schedule condo sales $29,943,500
100 TRUMP PLAZA LLC NIA 424 $25,000,001 - $50,000,000 rent $1 ,000,001 - $5,000,000
Underlying Assets: residential & commercial real estate
Location: New York, NY
See attached schedule
IOI TRUMP PRODUCTIONS LLC NIA 426 $1 ,000,001 - $5,000,000
Underlying Assets: production company
Location: New York, NY
See attached schedule production revenue $1 ,103,161
103 Trump Restaurants LLC NIA 430 $1 ,000,001 - $5,000,000
Underlying Assets: restaurant
Location: New York, NY
See attached schedule food & beverage related $4,830,768
sales
104 TRUMP RUFFIN TOWER I LLC NIA 434 Over $50,000,000
Underlying Assets: commercial real estate
Location: Las Vegas. NV
See attached schedule condo sales $10,683,900
hotel related revenue $30,835, 137
106 TRUMP SCOTSBOROUGH SQUARE LLC NIA 438 $500,001 - $1 ,000,000 rent $5,001 - $15,000
Underlying Assets: residential real estate
Location: Scotsborough Square, VA
See attached schedule
108 TRUMP TOWER COMMERCIAL LLC NIA 444 Over $50,000,000 rent Over $5,000,000
Underlying Assets: commercial real estate
Location: New York, NY
See attached schedule
109 TRUMP TOWER MANAGING MEMBER INC. NIA 445 $1 ,001 - $15,000 None (or less than $201)
Value reporled reflects bank account holding only. Entity's other
holdings and assets are reported elsewhere; see attached
schedule. Pass-thru entity. New York, NY
110 TRUMP VINEYARD ESTATES LLC NIA 447 $5,000,001 - $25,000,000 rent $100,001 - $1 ,000,000
Underlying Assets: vineyard
Location: Charlottesville, VA
See attached schedule
Ill TRUMP VINEYARD ESTATES LOT 3 OWNER LLC NIA 448 $500,001 - $1,000,000 rent $100,001 - $1 ,000,000
Underlying Assets: vineyard
Location: Charlottesville, VA
See attached schedule
112 TRUMP VIRGINIA ACQUISITIONS LLC NIA 450 $5,000,001 - $25,000,000
Underlying Assets: commercial real estate
Location: Charlottesville, VA
See attached schedule hotel related revenue $1 ,015,752
THE ACCOMPANYING SCHEDULE(PART2- EXHIBIT A) IS ANINTEGRALPARTOFTHE ABOVE AND SHOULD BE READ IN CONJUNCTION THEREWITH. Gaps In numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported rs as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 23 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
113 TRUMP VIRGINIA LOT 5 LLC NIA 452 $500,001 - $1 ,000,000 rent $50,001 - $100,000
Underlying Assets: vineyard
Location: Charlottesville, VA
See attached schedule
116 TRUMP NATIONAL GOLF CLUB - LOS ANGELES NIA 469 Over $50,000,000
Underlying Assets: golf course and unsold lots
Location: Los Angeles. CA
See attached schedule golf related revenue $14,982,417
land sales $12,035 ,000
119 Wollman Rink Operations LLC NIA 476 $1,000,001 - $5,000,000
Underlying Assets: operating agreement with NEW YORK CITY
DEPARTMENT OF PARKS & RECREATION - ice skating rinks
Location: New York, NY ice skating rink $12,661 ,523
See attached schedule
operation
120 HWA 555 Owners, LLC NIA 478 Over $50,000,000 rent Over $5,000,000
Underlying Assets: commercial real estate
Location: San Francisco, CA
See attached schedule
121 1290 AVENUE OF THE AMERICAS, A TENANCY-IN-COMMON NIA 479 Over $50,000,000 rent Over $5,000,000
Underlying Assets: commercial real estate
Location: New York, NY
See attached schedule
122 4% limited partnership interest in Starrett City Associates, L.P. (via the
entities disclosed on Exhibit A and direct ownership by The Donald J. Trump
NIA 018, 141, 154, 446 $5,000,001 - $25,000,000 rent Over $5,000,000
Revocable Trust)
Underlying Assets: residential real estate
Location: Brooklyn, NY
123 4% limited partnership interest in Spring Creek Plaza LLC (via the entities NIA 018, 141, 154, 446 $500,001 - $1 ,000,000 rent $100,001 - $1 ,000,000
disclosed on Exhibit A and direct ownership by The Donald J. Trump
Revocable Trust)
Underlying Assets: commercial real estate
Location: Brooklyn, NY
124 Trump Tower Triplex NIA Over $50,000,000 None (or less than $201)
Underlying Assets: residential real estate
Location: New York, NY
125 NIK/A OT VENTURE I LLC NIA 533 $5,000,001 - $25,000,000 None (or less than $201)
Underlying Assets: residential real estate
Location: Palm Beach, FL
See attached schedule
THE ACCOMPANYING SCHEDULE (PART 2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVE AND SHOULD BE READ IN CONJUNCTION THEREWITH. Gaps In numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 24 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
126 NIK/A DTW VENTURE LLC N/A 093 $1 ,000,001 - $5,000,000 rent $50,001 - $100,000
Underlying Assets: residential real estate
Location: Palm Beach, FL
See attached schedule
127 OT Marks Worli LLC N/A 089 royalties $100,001 - $1 ,000,000
Underlying Assets: license deal
Licensee(s): JAWALA REAL ESTATE PRIVATE LTD, LODHA
DEVELOPERS PRIVATE LTD
Location: New York, NY
See attached schedule
Value not readily ascertainable
130 THC VANCOUVER MANAGEMENT CORP N/A 190
Underlying Assets: management company
Location: Vancouver, Canada
See attached schedule management fees $21,576
Value not readily ascertainable
131 THE TRUMP ENTREPRENEUR INITIATIVE LLC N/A 201
Underlying Assets: seminar program
Location: New York, NY
See attached .schedule residual income $38,542
Value not readily ascertainable
132 TNGC JUPITER MANAGEMENT LLC N/A 227
Underlying Assets: management company
Location: Jupiter, FL
See attached schedule management fees $468,346
Value not readily ascertainable
133 TRUMP CHICAGO COMMERCIAL MANAGER LLC N/A 254
Underlying Assets: management company
Location: New York, NY
See attached schedule management fees $1 ,292,392
Value not readily ascertainable
134 TRUMP CHICAGO HOTEL MANAGER LLC N/A 256 $15,001 - $50,000
Value reported reflects bank account holding only.
Additional Underlying Asset: management company - value not
readily ascertainable. New York, NY management fees $2,198,295
See attached schedule
135 TRUMP CHICAGO RESIDENTIAL MANAGER LLC N/A 260
Underlying Assets: management company
Location: New York. NY
See attached schedule management fees $677,122
Value not read ily ascertainable
136 TRUMP MARKS FINE FOODS LLC NIA 333 $1,001 - $15,000 royalties $5,001 - $15,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with TWO RIVERS
COFFEE - value not readily ascertainable. License holder, New
York, NY
See attached schedule
THE ACCOMPANYING SCHEDULE (PART 2- EXHIBIT A} IS AN INTEGRAL PART OF THE ABOVE AND SHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable onthfs part. Information being reported rs as of April 15, 2017.
Filer's Name
Donald J. Trump
I
I
Page Number
25 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
137 TRUMP MARKS PHILIPPINES LLC NIA 367 $1 ,001 - $15,000 royalties $1,000,001 - $5,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with CENTURY CITY
DEVELOPMENT CORP - value not readily ascertainable. License
holder, New York, NY
See attached schedule
139 TRUMP MARKS STAMFORD LLC NIA 380 royalties $100,001 - $1 ,000,000
Underlying Assets: license deal
Licensee(s): 33 BROAD STREET ASSOCIATES II
Location: New York, NY
See attached schedule
Value not readily ascertainable
140 TRUMP MARKS SUNNY ISLES I LLC NIA 381 royalties $100,001 - $1 ,000,000
Underlying Assets: license deal
Licensee(s): MICHAEL DEZER & NAOMI DEZERTOV
Location: New York, NY
See attached schedule
Value not readily ascertainable
141 TRUMP PANAMA HOTEL MANAGEMENT LLC NIA 417 $15,001 - $50,000
Value reported reflects bank account holding only.
Additional Underlying Asset: management agreement - value not
readily ascertainable. New York, NY management fees $810,795
See attached schedule
142 TRUMP TORONTO HOTEL MANAGEMENT CORP NIA 442 $1 ,001 - $15,000
Value reported reflects bank account holding only.
Additional Underlying Asset: management deal with TALON
INTERNATIONAL INC - value not readily ascertainable. management fees $559,904
Management company, New York, NY; See attached schedule.
143 TW VENTURE I LLC NIA 462
transportation services
Location: Palm Beach , FL
See attached schedule operating income $185,601
Value not readily ascertainable
144 Trump Management Inc. NIA 480 $15,001 - $50,000
Value reported reflects bank account holding only.
Additional Underlying Asset: management company - value not
readily ascertainable management fees $30,000
Location: Manhasset, NY
See attached schedule
145 RITZ CARLTON HOTEL AT 112 CENTRAL PARK SOUTH NIK/A NIA 535 $15,001 - $50,000
OT VENTURE II LLC
Value reported reflects bank account holding only.
Additional Underlying Asset: management agreement - value not management fees $268,125
readily ascertainable.
Location: New York, NY
THE ACCOMPANYING SCHEDULE (PART 2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVE AND SHOU LO BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 26 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
146 Think Like A Champion N/A royalties $15,001 - $50,000
Publisher: Vanguard Press, a member of Perseus Books LLC
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2009)
147 The Art OfThe Deal N/A royalties $100,001 - $1 ,000,000
Publisher: Random House
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 1987)
148 Time To Get Tough N/A royalties $100,001 -$1 ,000,000
Publisher: Regnery Publishing
Underlying Assets: book
Location : New York, NY
Value not readily ascertainable
(Published 2011)
149 Think Like a Billionaire N/A None (or less than $201)
Publisher: Random House
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2004)
150 The Art of the Comeback N/A None (or less than $201)
Publisher: Random House
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 1997)
151 Why We Want You To Be Rich N/A None (or less than $201)
Publisher: Plata Publishing LLC
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2006)
152 Trump 101 : The Way to Success N/A None (or less than $201)
Publisher: John Wiley & Sons, Inc.
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2007)
THE ACCOMPANYING SCHEDULE(PART2- EXHIBIT A) IS AN INTEGRALPARTOFTHE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported rs as of April 15, 2017.
Filer's Name I Page Number
Donald J . Trump I 27 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
153 The America We Deserve N/A None (or less than $201)
Publisher: Renaissance Books
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2000)
154 Never Give Up N/A None (or less than $201)
Publisher: John Wiley & Sons, Inc.
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2008)
155 The Best Real Estate Advice I Ever Received N/A None (or less than $201)
Publisher: Thomas Nelson, Inc.
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2005)
156 The Way To The Top N/A None (or less than $201)
Publisher: Bill Adler Books
Underlying Assets: book
Location : New York, NY
Value not read ily ascertainable
(Published 2004)
157 How to Get Rich N/A royalties $5,001 - $15,000
Publisher: Random House
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2004)
158 Think Big and Kick Ass N/A None (or less than $201)
Publisher: HarperCollins Publishers
Underlying Assets: book
Location : New York, NY
Value not readily ascertainable
(Published 2007)
159 Trump: Surviving At The Top N/A None (or less than $201)
Publisher: Random House
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 1990)
160 SCREEN ACTORS GUILD PENSION N/A
Underlying Assets: pension
Location: Burbank, CA
Value not readily ascertainable pension $84,292
THE ACCOMPANYING SCHEDULE {PART2- EXHIBIT A IS AN INTEGRALPARTOFTHE ABOVE AND SHOULD BE READ IN CONJUNCTION THEREWITH. Ga p sin numerrcal
sequence are due to the removal of previously reported rte ms no longer reportable on this part. Information being reported Is as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 28 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
169 THC MIAMI RESTAURANT HOSPITALITY LLC N/A 178 $500,001 - $1 ,000,000
Value reported reflects bank account holding only.
Restaurant operations at Trump National Doral
Location: Miami, FL food & beverage related $7,390,861
sales
172 40 WALL STREET COMMERCIAL LLC N/A 004 $15,001 - $50,000 None (or less than $201)
Value reported reflects bank account holding only. Entity's other
holdings and assets are reported elsewhere; see attached
schedule. Payroll company. New York, NY
173 DT DUBAI II GOLF MANAGER LLC N/A 061 $15,001 - $50,000 royalties None (or less than $201)
Value reported reflects bank account holding only.
Additional Underlying Asset: management deal with FRONTLINE
INVESTMENT MANAGEMENT CO LLC (AN AFFILIATE OF
DAMAC) - value not readily ascertainable.
Management company, Dubai, UAE; See attached schedule.
174 DT TOWER GURGAON LLC N/A 091 $1 ,001 - $15,000 royalties $100,001 - $1 ,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with IREO PRIVATE LTD -
value not readily ascertainable.
License holder, Gurgaon, India; See attached schedule.
176 TAG AIR INC. N/A 161 $15,001 - $50,000
Value reported reflects bank account holding only. Entity's other
holdings and assets are reported elsewhere; see attached
schedule. Entity set up to lease 757 from DJT Operations I LLC. aircraft related $7,727,674
New York, NY
revenue/expense
reimbursements
178 THC IMEA DEVELOPMENT LLC N/A 177 $15,001 - $50,000 None (or less than $201)
Va lue reported reflects bank account holding only.
Additional Underlying Asset: developer - value not readily
ascertainable.
Location: New York, NY
See attached schedule.
181 DT BALI TECHNICAL SERVICES MANAGER LLC N/A 497 $1 ,001 - $15,000
Value reported reflects bank account holding only.
Additional Underlying Asset: management deal with PT BALI
NIRWANA RESORT - value not readily ascertainable. management fees $190,476
Management company, Bali, Indonesia; See attached schedule.
182 DT CONNECT EUROPE LIMITED N/A 499 $1 ,000,001 - $5,000,000 rent $100,001 - $1,000,000
Underlying Assets: aircraft
Location: Tumberry, Scotland
See attached schedule
THE ACCOMPANYING SCHEDULE (PART2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVE AND SHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
Filer's Name
Donald J. Trump
I
I
Page Number
29 of 51
Part 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIDIT A)
Reference#
183 OT ENDEAVOR I LLC N/A 500 $5,000,001 - $25,000,000 None (or less than $201)
Underlying Assets: aircraft
Location: Palm Beach, FL
See attached schedule
184 OT LIDO TECHNICAL SERVICES MANAGER LLC N/A 509 None (or less than $1 ,001)
Value reported reflects bank account holding only.
Additional Underlying Asset: management deal with PT LIDO
NIRWANA PARAHYANGAN - value not readily ascertainable. management fees $190,476
Management company, Lido, Indonesia; See attached schedule.
187 MOBILE PAYROLL CONSTRUCTION LLC N/A 523 $50,001 - $100,000 None (or less than $201)
Va lue reported reflects bank account holding only.
Additional Underlying Asset: none
Payroll company, Bedminster, NJ; See attached schedule
188 CRIPPLED AMERICA N/A royalties $1 ,000,001 - $5,000,000
Publisher: Threshold Editions
Underlying Assets: book
Location: New York, NY
Value not readily ascertainable
(Published 2015)
189 DTTM OPERATIONS LLC N/A 519 $15,001 - $50,000 None (or less than $201)
Value reported reflects bank account holding only. Entity's other
holdings and assets are reported elsewhere; see attached
schedule. Pass-thru entity. New York, NY
190 TRUMP LAS VEGAS MANAGING MEMBER LLC N/A 309 None (or less than $1 ,001)
Value reported reflects bank account holding only. Entity's other
holdings and assets are reported elsewhere; see attached
sponsor fee
schedule. Pass-thru entity. Las Vegas, NV $53,700
191 Trump Las Vegas Sales & Marketing , Inc. NIA 311 $1,001 - $15,000
Value reported reflects bank account holding only.
Additional Underlying Assets: sales & marketing deal with TRUMP
RUFFIN TOWER I LLC - value not readily ascertainable. Entity set commissions $14,078,526
up to receive brokerage commissions, Las Vegas, NV; See
attached schedule
192 OT TOWER KOLKATA LLC NIA 517 None (or less than $1,001) royalties $100,001 - $1 ,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with CONCAST
INFRASTRUCTURE PRIVATE LIMITED, TRIBECA CREATORS
LLP, REGENT HIRISE PRIVATE LIMITED, RAJ CONSTRUCTION
PROJECTS PRIVATE LIMITED, ROB REALTY &
INFRASTRUCTURE LIMITED - value not readily ascertainable.
License holder, Kolkata, India; See attached schedule.
THE ACCOM PANYING SCHEDULE (PART2- EXHIBIT A} IS AN INTEGRAL PART OF THE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously r eported items no longer reportable on this part. Information being r eported is as of April 15, 2017.
Filer's Name I Page Number
Donald J. Trump I 30 of 51
Put 2: Filer's Employment Assets and Income
# Description EIF attached schedule Value Income Type Income Amount
(Part 2 - EXHIBIT A)
Reference#
193 OT MARKS VANCOUVER LP NIA 087 None (or less than $1 ,001) royalties Over $5,000,000
Value reported reflects bank account holding only.
Additional Underlying Asset: license deal with WEST GEORGIA
DEVELOPMENT LIMITED PARTNERSHIP AND WEST GEORGIA
HOLDINGS INC. - value not readily ascertainable.
License holder, Vancouver, Canada; See attached schedule.
194 STORAGE 106 LLC N/A 542 $5,000,001 - $25,000,000 rent $100,001 - $1,000,000
Underlying Assets: commercial real estate
Location: New York, NY
See attached schedule
THE ACCOMPANYING SCHEDULE(PART2- EXHIBIT A) IS AN INTEGRAL PART OF THE ABOVEANDSHOULD BE READ IN CONJUNCTION THEREWITH. Gaps in numerical
sequence are due to the removal of previously reported items no longer reportable on this part. Information being reported is as of April 15, 2017.
OGE Fonn 278e (March 201 4)
Instructions for Part 3
N h"" . bl"" f
ote: T 1s 1s a pu 1c orm.
Filer's Name
Donald J. Trump
D o not inc I u d e account num b ers, street a dd resses, or f am1 ·1 y mem b er names. s ee instructions f or require . d. in f ormat1on.
Page Number
Part 3: Filer's Employment Agreements and Arrangements
# Employer or Party City/State Status and Terms
1.
2.
Screen Actors Guild -
Producers
Burbank, CA
Pension Plan for Motion Picture Actors; payments received on a monthly basis.
31of51
Date
July 2011
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
OGE Fann 278e (March 2014)
Instructions for Part 4
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Name
Donald J. Trump
Part 4: Filer's Sources of Compensation Exceeding $5,000 in a Year
# Source Name City/State Brief Description of Duties
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15 .
16.
17
18.
19.
20.
N/A
!Page Number
I 32of51
OGE Form 278c (March 2014)
Instructions for Part 5
Note: This is a public form. Do not inc I u d e account num b ers, street a dd resses, or f am11y ·1 mem b er names. See instructions f or require . d . in f ormat1on.
Filer's Name
!Page Number
Donald J . Trump
I 33ors1
Part 5: Spouse's Employment Assets and Income
# Description EIF Value Income Type Income Amount
1. Melania LLC N/A None (or less than $1 ,001) None (or less than $201)
Underlying Assets: inactive
Location: New York, NY
2. MELANIA MARKS ACCESSORIES LLC N/A None (or less than $201)
Underlying Assets: licensing agreement
Licensee(s): MZ BERGER & COMPANY LLC
Location: New York, NY
Value not readily ascertainable
3. MELANIA MARKS ACCESSORIES MEMBER CORP N/A None (or less than $201)
(pass-thru company for MELANIA MARKS ACCESSORIES
LLC)
Location: New York, NY
Value not readily ascertainable
4. 721 33H LLC N/A $1 ,000,001 - $5,000,000 None (or less than $201)
Underlying Assets: residential real estate
Location: New York, NY
5. 721 33H Holdings LLC NIA None (or less than $201)
(pass-thru company for 721 33H LLC)
Location: New York, NY
Value not readily ascertainable
6.
7.
8.
9.
10.
Information being reported is as of April 15, 2017.
OGE Fann 278e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers
I
street addresses I or family member names See instructions for required information
Filer's Name
IPage Number
Donald J. Trump
I 34 ors1
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
I
BARON REAL ESTATE FUND
y None (or less than $1 ,001) $100,001 - $1 ,000,000
2 BARON GROWTH FUND
y None (or less than $1,001) $100,001 - $1 ,000,000
3
BARON PARTNERS FUND
y None (or less than $1 ,001) $100,001 - $1,000,000
AG DIVERSIFIED INCOME FUND PLUS, LP (flkla AG
4 DIVERSIFIED CREDIT STRATEGIES FUND LP) (ANGELO y None (or less than $1 ,001) $100,001 - $1 ,000,000
GORDON)
5 MIDOCEAN CREDIT OPPORTUNITY FUND LP (MIDOCEAN y $1 ,000,001 - $5,000,000 $100,001 - $1 ,000,000
CREDIT PARTNERS)
6 JP MORGAN CHASE - CHECKING AND SAVINGS NIA
ACCOUNTS
$1 ,000,001 - $5,000,000 Interest $1 ,001 - $2,500
7
CAPITAL ONE BANK- CHECKING AND SAVINGS
NIA $5,000,001 - $25,000,000 Interest $100,001 - $1,000,000
8 SIGNATURE BANK- CHECKING
NIA $100,001 - $250,000 Interest $1 ,001 - $2,500
9 BANK UNITED, NA - MONEY MARKET
NIA $100,001 - $250,000 Interest $1 ,001 - $2,500
10 FIRST REPUBLIC BANK - CHECKING
NIA $15,001 - $50,000 Interest None (or less than $201)
11
INVESTMENT IN GOLD
NIA $100,001 - $250,000 None (or less than $201)
12 WMTMF LLC (US BANK CASH ACCOUNT)
NIA $50,001 - $100,000 None (or less than $201)
BARCLAYS BANK - BROKERAGE ACCOUNT - HOLDINGS
I
AT&T INC
NIA None (or less than $1 ,001) Dividends.Capital Gain $2,501 - $5,000
2 ASTRAZENECA PLC ADR
NIA None (or less than $1 ,001) Capital Gain $201 - $1 ,000
3
CROWN CASTLE INTL CORP
NIA None (or less than $1 ,001) Dividends.Capital Gain $201 - $1 ,000
4 GENERAL ELECTRIC COMPANY
NIA None (or less than $1 ,001) Dividends.Capital Gain $1 ,001 - $2,500
Information being reported is as of April 15, 2017.
OGE Fann 278e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers I street addresses I or family member names See instructions for required information
Filer's Name
IPage Number
Donald J. Trump
1 Js ofs1
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
5
6
7
HALLIBURTON COMPANY
ISHS EURO FINLS INDX ETF
KINDER MORGAN INC DE
NIA None (or less than $1,001) Dividends.Capital Gain $2,501 - $5,000
y None (or less than $1 ,001) $201 - $1 ,000
NIA None (or less than $1 ,001) Dividends.Capital Gain $2,501 - $5,000
8 KRAFT HEINZ CO
NIA None (or less than $1 ,001) Capital Gain $201 - $1 ,000
9
JO
11
METLIFE INC
PH ILIP MORRIS !NTL INC
PFIZER INC
NIA None (or less than $1 ,001) Dividends.Capital Gain $2,501 - $5,000
NIA None (or less than $1,001) Capital Gain $201 - $1,000
NIA None (or less than $1 ,001) Dividends.Capital Gain $201 - $1,000
12 PRUDENTIAL FINL INC
NIA None (or less than $1,001) Dividends.Capital Gain $2,501 - $5,000
13
RAYTHEON COMPANY NEW
NIA None (or less than $1 ,001) Dividends.Capital Gain $2,501 - $5,000
14 SPDR S&P BANK ETF
y None (or less than $1 ,001) $1 ,001 - $2,500
15 SWISS RE LTD ADR
NIA None (or less than $1 ,001) Dividends.Capital Gain $1 ,001 - $2,500
16 U S BANCORP DE NEW
NIA None (or less than $1 ,001) Dividends.Capital Gain $1 ,001 - $2,500
17 VNGRD HGH DIV YLD ETF
y None (or less than $1 ,001) $201 - $1 ,000
18 VERIZON COMMS INC
NIA None (or less than $1 ,001) Dividends.Capital Gain $201 - $1 ,000
OPPENHEIMER-BROKERAGE ACCOUNT - HOLDINGS
1 ALTRIA GROUP INC
NIA None (or less than $1 ,001) Dividends.Capital Gain $100,001 - $1 ,000,000
2 AMGEN INC
NIA None (or less than $1 ,001) Dividends.Capital Gain $50,001 - $100,000
Information being reported is as of April 15, 2017.
OGE FolTll 278e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers , street addresses , or family member names See instructions f or require . d.
in
f orma ion.
Filer's Name
!Page Number
Donald J. Trump
I 36 ors1
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
3 APPLE INC
NIA None (or less than $1,001) Dividends,Capital Gain $100,001 - $1,000,000
4 AT&T INC
NIA None (or less than $1 ,001) Dividends.Capital Gain $100,001 - $1,000,000
5 BRISTOL MYERS SQUIBB CO
NIA None (or less than $1 ,001) Dividends,Capital Gain $100,001 - $1,000,000
6 GENERAL MLS INC
NIA None (or less than $1,001) Dividends.Capital Gain $5,001 - $15,000
7
8
9
IO
11
GILEAD SCIENCES INC
JPMORGAN CHASE & CO COM
PHILIP MORRIS INTL INC
REGENERON PHARMACEUTICALS
UNITED PARCEL SERVICE INC CL B
NIA None (or less than $1 ,001) Capital Gain $100,001 - $1 ,000,000
NIA None (or less than $1,001) Dividends.Capital Gain $100,001 - $1 ,000,000
NIA None (or less than $1,001) Dividends.Capital Gain $5,001 - $15,000
NIA None (or less than $1,001) Capital Gain $50,001 - $100,000
NIA None (or less than $1,001) Capital Gain $15,001 - $50,000
12 VERIZON COMMUNICATIONS INC
NIA None (or less than $1 ,001) Dividends.Capital Gain $100,001 - $1 ,000,000
13 VISA INC
NIA None (or less than $1,001) Capital Gain $100,001 - $1,000,000
14 WASTE MGMT INC DEL
NIA None (or less than $1,001) Capital Gain $15,001 - $50,000
15 WELLS FARGO & CO NEW
NIA None (or less than $1 ,001) Dividends.Capital Gain $50,001 - $100,000
16 YAHOO INC
NIA None (or less than $1 ,001) Capital Gain $50,001 - $100,000
17 ADVANTAGE ADVISORS XANTHUS FUND, LLC
y None (or less than $1,001) $100,001 - $1,000,000
The Fred C. Trump December 16, 1976 Trust- F/B/O
Donald J. Trumo
1 JP MORGAN CHASE - SAVINGS ACCOUNT
NIA $1 ,000,001 - $5,000,000 Interest $1,001 - $2,500
Information being reported is as of April 15, 2017.
OGE Fann 27 8e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers
I
street addresses I or family member names See instructions for requir e d · m f orma ion.
Filer's Name
Donald J. Trump
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
I
JP MORGAN CLEARING CORP - BROKERAGE ACCOUNT
HOLDINGS
APPLE, INC
NIA None (or less than $1,001) Dividends.Capital Gain $100,001 - $1 ,000,000
2 CATERPILLER INC
NIA None (or less than $1,001) Dividends.Capital Gain $15,001 - $50,000
r
!Page Number
I 31 ors1
3
4
5
MICROSOFT CORP
PEPSICO INC
ECO TEK 360 INC
(flkla GLOBAL FASHION TECHNOLOGIES)
NIA None (or less than $1 ,001) Dividends.Capital Gain $100,001 - $1 ,000,000
NIA None (or less than $1 ,001) Dividends.Capital Gain $15,001 - $50,000
NIA $1 ,001 - $15,000 None (or less than $201)
6 HALLIBURTON COMPANY
NIA None (or less than $1,001) Dividends.Capital Gain $15,001 - $50,000
7
PHILLIPS 66 COM
NIA None (or less than $1 ,001) Dividends.Capital Gain $5,001 - $15,000
The Donald J Trump Revocable Trust
I CAPITAL ONE BANK - CHECKING AND SAVINGS (account NIA Over $50,000,000 None (or less than $201)
funded 411212017))
DEUTSCHE ASSET & WEAL TH MANAGEMENT NC 1
BROKERAGE ACCT - HOLDINGS
I
2
3
4
ADVANCE AUTO PTS INC COM
INVESCO EUROPEAN GROWTH FUND
ALPHABET INC COM CL A
ALPHABET INC COM CL C
NIA None (or less than $1 ,001) Dividends, Capitai Gain $2,501 - $5,000
y None (or less than $1 ,001) $2,501 - $5,000
NIA None (or less than $1 ,001) Capital Gain $15,001 - $50,000
NIA None (or less than $1 ,001) Capital Gain $15,001 - $50,000
5 AMAZON COM INC COM
NIA None (or less than $1 ,001) Capital Gain $15,001 - $50,000
Information being reported is as of April 15, 2017.
OGE Fann 278e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers street addresses or family member name s · t r f . d . f
I I
s. ee ins rue IOns or require in ormation.
Filer's Name
IPage Number
Donald J. Trump
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
I 3s ofs1
6
7
8
9
AMERICAN WATER WORKS COM
AMERIPRISE FINANCIAL INC
AMETEK INC NEW COM
AMGEN INC OTO 511512012
NIA None (or less than $1 ,001) Dividends, Capital Gain $15,001 - $50,000
NIA None (or less than $1 ,001) Dividends, Capital Gain $15,001 - $50,000
NIA None (or less than $1 ,001) Dividends, Capital Gain $15,001 - $50,000
N/A None (or less than $1,001) Interest, Capital Gain $1 ,001 - $2,500
10 APPLE INC COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $50,001 - $100,000
I l APPLE INC OTO 51612014 3
NIA None (or less than $1 ,001) Interest, Capital Gain $1,001 - $2,500
12 BOEING CO COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
13 BROADCOM LIMITED COM
N/A None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
14 BURLINGTN NORTH SANTA FE BOND
NIA None (or less than $1,001) Interest, Capital Gain $1,001 - $2,500
15 CELGENE CORP COM
NIA None (or less than $1 ,001) Capital Gain $50,001 - $100,000
16 CISCO SYS COM
NIA None (or less than $1,001) Dividends, Capital Gain $201 - $1 ,000
17 CITIGROUP INC COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
18 COCA COLA CO/THE BOND
NIA None (or less than $1 ,001) Interest, Capital Gain $1 ,001 - $2,500
19 COMCAST CORP NEW CL A
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
20 CONAGRA BRANDS INC COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $1 ,001 - $2,500
2 1 COSTCO WHSL CORP NEW COM
NIA None (or less than $1,001) Dividends, Capital Gain $2,501 - $5,000
22 CROWN CASTLE INTERNATION
N/A None (or less than $1,001) Dividends, Capital Gain $5,001 - $15,000
23 DISCOVER FINANCIAL SERVI
N/A None (or less than $1 ,001) Dividends, Capital Gain $15,001 - $50,000
Information being reported is as of April 15, 2017.
OGE Fonn 278e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers I street addresses I or family member names Se e · ms t rue r ions f or require . d . in f ormat1on.
Filer's Name
Donald J. Trump
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
24 ECOLAB INC COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
25 EOG RES INC COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
26 EXPRESS SCRIPTS HLDG CO
NIA None (or less than $1,001) Capital Gain $15,001 - $50,000
27 EXTRA SPACE STORAGE INC
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
28 GENERAL ELEC CAP CORP BOND
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
29 GENERAL ELEC CO COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $50,001 - $100,000
30 GENERAL MOTORS FINL CO BOND
NIA None (or less than $1,001) Interest, Capital Gain $201 - $1 ,000
!Page Number
I 39ofs1
31
GILEAD SCIENCES INC COM
NIA None (or less than $1,001) Dividends, Capital Gain $100,001 - $1,000,000
32 HCA HOLDINGS INC COM
NIA None (or less than $1,001) Capital Gain $2,501 - $5,000
33 HCA INC DTD 81112011 6.5
NIA None (or less than $1,001) Interest, Capital Gain $1,001 - $2,500
34 HOME DEPOT INC COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
35 INTUIT INC COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
36 J P MORGAN CHASE & CO CO
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
37 JARDEN CORP
NIA None (or less than $1,001) Capital Gain $201 - $1,000
38 JOHNSON & JOHNSON COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
39 JPMORGAN CHASE BOND
NIA None (or less than $1 ,001) Interest, Capital Gain $201 - $1,000
40 KRAFT HEINZ CO/THE COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
41
L BRANDS INC COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
Information being reported is as of April 15, 2017.
OGE Fann 278e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers street addresses or family member name s · t r f . d . f
I I s. ee ms rue ions or require m ormation.
Filer's Name
Donald J. Trump 40 of 51
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
42 MCKESSON HBOC INC COM
N/A None (or less than $1,001) Dividends, Capital Gain $50,001 - $100,000
Page Number
43 MEAD JOHNSON NUTRITION C
N/A None (or less than $1,001) Dividends, Capital Gain $5,001 - $15,000
44 MEDIVATION INC COM
N/A None (or less than $1 ,001) Capital Gain $15,001 - $50,000
4S MERCK & CO INC COM
N/A None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
46 MICROSOFT CORP COM
N/A None (or less than $1 ,001) Dividends, Capital Gain $50,001 - $100,000
47 MORGAN STANLEY BOND
N/A None (or less than $1 ,001) Interest, Capital Gain $201 - $1 ,000
48 NEWELL BRANDS INC COM
N/A None (or less than $1 ,001) Capital Gain $201 - $1 ,000
49 NEXTERA ENERGY INC COM
N/A None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
so NIKE INC CL B
N/A None (or less than $1,001) Dividends, Capital Gain $50,001 - $100,000
SI NORFOLK SOUTHERN CORP CO
N/A None (or less than $1,001) Dividends, Capital Gain $5,001 - $15,000
S2 PARKER HANNIFIN CORP COM
N/A None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
S3
PEPSICO INC COM
N/A None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
S4 PEPSICO INC DTD 2/28/201 BOND
N/A None (or less than $1,001) Interest, Capital Gain $1 ,001 - $2,500
SS
PFIZER INC COM
N/A None (or less than $1 ,001) Dividends, Capital Gain $1 ,001 - $2,500
S6 PHILIP MORRIS INTL INC C
NIA None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
S7 PROCTER & GAMBLE CO COM
N/A None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
S8 PRUDENTIAL FINL INC COM
N/A None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
S9 ROPER TECHNOLOGIES INC C
N/A None (or less than $1 ,001) Dividends, Capital Gain $15,001 - $50,000
Information being reported is as of April 15, 2017.
OGE Fonn 278e (March 2014)
Instructions for Part 6
Note· This is a public form Do not include account numbers street addr esse s , or f am1 ·1 y mem b er names. s ee instructions f or required information.
'
Filer's Name
f Page Number
Donald J. Trump
I 41 of SI
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
60 SALESFORCE COM INC
NIA None (or less than $1,001) Capital Gain $5,001 - $15,000
61
SCHWAB CHARLES COM
NIA None (or less than $1 ,001) Capital Gain $5,001 - $15,000
62 SEALED AIR CORP COM NEW
NIA None (or less than $1 ,001) Dividends, Capital Gain $201 - $1 ,000
63 SMUCKER J M CO COM NEW
NIA None (or less than $1 ,001) Dividends, Capital Gain $1 ,001 - $2,500
64 T MOBILE US INC COM
NIA None (or less than $1 ,001) Capital Gain $1,001 - $2,500
65 THERMO FISHER SCIENTIFIC
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
66 TJX COS INC NEW COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $50,001 - $100,000
67 TWENTY FIRST CENTURY FOX
NIA None (or less than $1,001) Dividends, Capital Gain $5,001 - $15,000
68 UST NTS DTD 811512012 1
NIA None (or less than $1 ,001) Interest, Capital Gain $1,001 - $2,500
69 VF CORP COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $5,001 - $15,000
70 VISA INC CL A COM
NIA None (or less than $1 ,001) Dividends, Capital Gain $50,001 - $100,000
71
WELLS FARGO & CO NEW COM
NIA None (or less than $1,001) Dividends, Capital Gain $15,001 - $50,000
I
DEUTSCHE ASSET & WEAL TH MANAGEMENT A/C 2
BOND ACCOUNT - HOLDINGS
AMERICAN EXPRESS CREDIT
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
2 ANHEUSER-BUSCH
NIA None (or less than $1 ,001) Interest, Capital Gain $1,001 - $2,500
3 APPLE INC DTD 51312013 0
NIA None (or less than $1,001) Interest, Capital Gain $2,501 - $5,000
4 AT&T INC DTD 811812011 2
NIA None (or less than $1,001) Interest, Capital Gain $2,501 - $5,000
Information being reported is as of April 15, 2017.
OGE Form 278e (March 2014)
Instructions for Part 6
Note: This is a public form Do not include account numbers street addresses or family member names See instructio f . d . f
I I ns or require in orma r ion.
Filer's Name
IPage Number
Donald J. Trump
I 42 ors1
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
5
BANK OF NOVA SCOTIA
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
6 BERKSHIRE HATHAWAY FIN
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
7
BHP BILLITON FIN USA LTD
NIA None (or less than $1 ,001) Interest, Capital Gain $5,001 - $15,000
8 CATERPILLAR FIN SERV CRP
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
9 CHEVRON CORP
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
10 CITIGROUP INC
NIA None (or less than $1 ,001) Interest, Capital Gain $5,001 - $15,000
11
CONAGRA INC
NIA None (or less than $1 ,001) Interest, Capital Gain $201 - $1 ,000
12 CREDIT SUISSE NEW YORK
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
13 DEUTSCHE GOVERNMENT MONEY MARKET
NIA None (or less than $1,001) Dividends, Capital Gain $5,001 - $15,000
14 DEUTSCHE MONEY MARKET SERIES
NIA None (or less than $1 ,001) Interest, Capital Gain $201 - $1 ,000
15 ECOLAB INC OTO 121812011
NIA None (or less than $1,001) Interest, Capital Gain $5,001 - $15,000
16 EXXON MOBIL CORPORATION
NIA None (or less than $1,001) Interest, Capital Gain $2,501 - $5,000
17 FHLB OTO 712512016 0.00%
NIA None (or less than $1,001) Interest, Capital Gain $2,501 - $5,000
18 FMCC DTD 81712012 2.50%
NIA None (or less than $1 ,001) Interest, Capital Gain $201 - $1 ,000
19 FNMA DTD 112911999 0.00%
NIA None (or less than $1 ,001) Interest, Capital Gain $201 - $1 ,000
20 FORD MTR OTO 1211812006
NIA None (or less than $1 ,001) Interest, Capital Gain $5,001 - $15,000
21
GOLDMAN SACHS GROUP INC
NIA None (or less than $1 ,001) Interest, Capital Gain $15,001 - $50,000
22 IBM CORP
NIA None (or less than $1,001) Interest, Capital Gain $2,501 - $5,000
Information being reported is as of April 15, 2017.
OGE Fann 278e (March 2014)
Instructions for Part 6
, , e er names. s . t
Note· This is a public form Do not include account numbers street addresses or family m mb
Filer's Name
Donald J. Trump
ee ins ructions f or reauired in f ormation.
!Page Number
I 43ors1
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
23 INTL BK RECON & DEVELOP
NIA None (or less than $1 ,001) Interest, Capital Gain $1 ,001 - $2,500
24 J P MORGAN CHASE & CO
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
25 JOHN DEERE CAPITAL CORP
NIA None (or less than $1 ,001) Interest, Capital Gain $5,001 - $15,000
26 MCDONALD'S CORP
NIA None (or less than $1 ,001) Interest, Capital Gain $1 ,001 - $2,500
27 MCKESSON CORP
NIA None (or less than $1 ,001) Interest, Capital Gain $201 - $1 ,000
28 MORGAN STANLEY
NIA None (or less than $1 ,001) Interest, Capital Gain $15,001 - $50,000
29 NBCUNIVERSAL MEDIA LLC
NIA None (or less than $1,001) Interest, Capital Gain $201 - $1 ,000
30 NEW YORK CITY NY
NIA None (or less than $1 ,001) Interest, Capital Gain $201 - $1 ,000
31
ORACLE CORP
NIA None (or less than $1,001) Interest, Capital Gain $201 -' $1,000
32 PEPSICO INC
NIA None (or less than $1 ,001) Interest, Capital Gain $1 ,001 - $2,500
33 PNC BANK NA
NIA None (or less than $1 ,001) Interest, Capital Gain $1,001 - $2,500
34 ROYAL BANK OF CANADA
NIA None (or less than $1 ,001) Interest, Capital Gain $5,001 - $15,000
35 SHELL INTERNATIONAL FIN
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
36 THERMO FISHER SCIENTIFIC
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
37 TORONTO DOMINION BANK
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
38 TOTAL CAPITAL INTL SA
NIA None (or less than $1 ,001) Interest, Capital Gain $5,001 - $15,000
39 TOYOTA MOTOR CREDIT CORP
NIA None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
40 UNITED STATES TREAS NTS
NIA None (or less than $1 ,001) Interest, Capital Gain $5,001 - $15,000
Information being reported is as of April 15, 2017.
OGE Form 278e (March 2014)
Instructions for Part 6
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Name
Donald J. Trump
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
41 VERIZON COMMUNICATIONS
N/A None (or less than $1,001) Interest, Capital Gain $2,501 - $5,000
42 WAL MART STORES INC
N/A None (or less than $1 ,001) Interest, Capital Gain $201 - $1,000
43 WELLS FARGO & COMPANY
N/A None (or less than $1 ,001) Interest, Capital Gain $2,501 - $5,000
44 WESTPAC BANKING CORP
N/A None (or less than $1,001) Interest, Capital Gain $2,501 - $5,000
!Page Number
I 44 or s1
l
2
3
4
Family Trust 1 *
!SHARES MSCI EAFE INDEX FUND
DODGE & COX INCOME FD
!SHARES INC MSCI JAPAN NEW
DODGE & COX !NTL STOCK FD
y $15,001 - $50,000
y $1,001 - $15,000
y $1 ,001 - $15,000
y $1 ,001-$15,000
Dividends, Capital
Gains
$5,001 - $15,000
5 AMG MANAGERS PICTET INTERNATIONAL FUND CLASS y $1 ,001 - $15,000
I
6 JOHN HAN II-ABS RET CURR-I
y $1 ,001 - $15,000
7
8
9
IO
11
BLACKROCK HIGH YIELD PT-BLAC
CHILTON STRATEGIC EUROPEAN EQUITIES FD
AQR MANAGED FUTURES STR-R6
PRIMECAP ODYSSEY STOCK FD
U.S. BANK CASH ACCOUNT
y $1,001 - $15,000
y $1 ,001 - $15,000
y $1,001 - $15,000
y $15,001 - $50,000
N/A $1,001 - $15,000
12 !SHARES RUSSELL MIDCAP INDEX FUND
y $15,001 - $50,000
*J.P. Morgan is the sole Trustee. Donald J. Trump retains an income interest only in the Family Trusts and has no investment decision authority.
Information being reported is as of April 15, 2017.
OGE Fonn 278e (March 20 14)
Instructions for Part 6
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information
Filer's Name
Donald J. Trump
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
13 SPDR S&P 500 ETF TRUST
y $15,001 - $50,000
14 JPM GLBL RES ENH INDEX FD - CL I FUND 3457
y $15,001 - $50,000
15 FMI LARGE CAP FUND-INST
y $1 ,001 - $15,000
16 JPM US LARGE CP CORE PLUS FD - CL I FUND 1002
y $15,001 - $50,000
17 NEUBERGER BER MU/C OPP-INS
y $15,001 - $50,000
18 MFS EMERGING MKTS DEBT FD-I
y $1,001 - $15,000
19 PIMCO UNCONSTRAINED BOND-INS
y $1,001 - $15,000
20 ARTISAN INTL VALUE FD-INS
y $1,001 - $15,000
!Page Number
I 4s ors1
21
JPM MID CAP VALUE FD - L FUND 758
y $1 ,001 - $15,000
22 JPM SHRT-INT MUNI BND FD - CL L FUND 3602 1.48%
y $15,001 - $50,000
23 AQR LONG-SHORT EQUITY-R6
y $1,001 - $15,000
24 PRUDENTIAL TOTAL RETRN BND-Z
y None (or less than $1,001)
25 VANGUARD INTM TRM INV G-ADM
y None (or less than $1 ,001)
I
Family Trust 2*
ISHARES INC MSCI JAPAN NEW
y $1 ,001 - $15,000
Dividends, Capital
Gains
$5,001 - $15,000
2 JPM US LARGE CP CORE PLUS FD - CL I FUND 1002
y $15,001 - $50,000
3
CHILTON STRATEGIC EUROPEAN EQUITIES FD
y $1 ,001 - $15,000
* J.P. Morgan is the sole Trustee. Donald J. Trump retains an income interest only in the Family Trusts and has no investment decision authority.
Information being reported is as of April 15, 2017.
OGE Fann 278e (March 2014)
Instructions for Part 6
N o t e: Th. IS IS . a pu bl"" 1c f orm. D o no t . inc I u d e accoun t num b ers, s t ree t a dd f ·1 b
Filer's Name
Donald J. Trump
Part 6: Other Assets and Income
ee ins rue ions or require in ormat1on.
resses, or amt y mem er names. s . t f f . d . f
# Description EIF Value Income Type Income Amount
4 JPM SH RT-INT MUNI BND FD - CL L FUND 3602 1.48%
y $15,001 - $50,000
5 DODGE & COX INCOME FD
y $1 ,001 - $15,000
!Page Number
I 46ofs1
6
!SHARES RUSSELL MIDCAP INDEX FUND
y $15,001 - $50,000
7 ARTISAN INTL VALUE FD-INS
y $15,001 - $50,000
8 !SHARES MSCI EAFE INDEX FUND
y $15,001 - $50,000
9
U.S. BANK CASH ACCOUNT
NIA $15,001 - $50,000
10 AMG MANAGERS PICTET INTERNATIONAL FUND CLASS y $1,001 - $15,000
I
11 PRIMECAP ODYSSEY STOCK FD
y $15,001 - $50,000
12 JOHN HAN II-ABS RET CURR-I
y $1 ,001 - $15,000
13 JPM GLBL RES ENH INDEX FD - CL I FUND 3457
y $15,001 - $50,000
14 EQUINOX FDS TR IPM SYSTMATC I
y $1 ,001 - $15,000
15 PIMCO UNCONSTRAINED BOND-INS
y $1 ,001 - $15,000
16 BLACKROCK HIGH YIELD PT-BLAC
y $15,001 - $50,000
17 FMI LARGE CAP FUND-INST
y $1,001 - $15,000
18 MFS EMERGING MKTS DEBT FD-I
y $1 ,001 - $15,000
19 JPM MID CAP VALUE FD - L FUND 758
y $15,001 - $50,000
20 SPDR S&P 500 ETF TRUST
y $15,001 - $50,000
2 1 AQR LONG-SHORT EQUITY-R6
y $1 ,001 - $15,000
* J.P. Morgan is the sole Trustee. Donald J. Trump retains an income interest only in the Family Trusts and has no investment decision authority.
Information being reported is as of April 15, 2017.
OGE Fann 278e (March 2014)
Instructions for Part 6
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information
Filer's Name
Donald J. Trump
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
22 DODGE & COX INTL STOCK FD
y $1 ,001 c $15,000
23 NEUBERGER BER MU/C OPP-INS
y $15,001 - $50,000
24 PRUDENTIAL TOTAL RETRN BND-Z
y None (or less than $1,001)
25 VANGUARD INTM TRM INV G-ADM
y None (or less than $1,001)
,....._ -
!Page Number
I 47 of51
I
2
3
4
5
6
7
8
9
JO
11
Family Trust 3*
!SHARES RUSSELL MIDCAP INDEX FUND
PRIMECAP ODYSSEY STOCK FD
BLACKROCK HIGH YIELD PT-BLAC
JPM SHRT-INT MUNI BND FD - CL L FUND 3602 1.48%
!SHARES MSCI EAFE INDEX FUND
JPM US LARGE CP CORE PLUS FD - CL I FUND 1002
MFS EMERGING MKTS DEBT FD-I
AQR MANAGED FUTURES STR-R6
DODGE & COX INTL STOCK FD
SPDR S&P 500 ETF TRUST
DODGE & COX INCOME FD
y $15,001 - $50,000
y $15,001 - $50,000
y $15,001 - $50,000
y $15,001 - $50,000
y $15,001 - $50,000
y $15,001 - $50,000
y $1 ,001 - $15,000
y $1,001 - $15,000
y $15,001 - $50,000
y $50,001 - $100,000
y $1 ,001 - $15,000
Dividends, Capital
Gains
$15,001 - $50,000
12 AMG MANAGERS PICTET INTERNATIONAL FUND CLASS y $1,001 - $15,000
I
*J.P. Morgan is the sole Trustee. Donald J. Trump retains an income interest only in the Family Trusts and has no investment decision authority.
Information being reported is as of April 15, 2017.
OGE Fonn 278e (March 2014)
Instructions for Part 6
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Name
IPage Number
Donald J. Trump
I 48 of51
Part 6: Other Assets and Income
# Description EIF Value Income Type Income Amount
13 !SHARES INC MSCI JAPAN NEW
y $1,001 - $15,000
14 NEUBERGER BER MU/C OPP-INS
y $15,001 - $50,000
15 ARTISAN INTL VALUE FD-INS
y $15,001 - $50,000
16 PIMCO UNCONSTRAINED BOND-INS
y $1,001 - $15,000
17 JOHN HAN II-ABS RET CURR-I
y $1,001 - $15,000
18 AQR LONG-SHORT EQUITY-R6
y $1 ,001 - $15,000
19 JPM MID CAP VALUE FD - L FUND 758
y $15,001 - $50,000
20 JPM GLBL RES ENH INDEX FD - CL I FUND 3457
y $50,001 - $100,000
21
CHILTON STRATEGIC EUROPEAN EQUITIES FD
y $1,001 - $15,000
22 U.S. BANK CASH ACCOUNT
N/A $15,001 - $50,000
23 PRUDENTIAL TOTAL RETRN BND-Z
y None (or less than $1,001)
24 VANGUARD INTM TRM INV G-ADM
y None (or less than $1 ,001)
25 FMI LARGE CAP FUND
y None (or less than $1 ,001)
*J.P. Morgan is the sole Trustee. Donald J. Trump retains an income interest only in the Family Trusts and has no investment decision authority.
Information being reported is as of April 15, 2017.
OGE Form 278e (March 2014)
Instructions for Part 7
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Name
Page Number
Donald J Trump 49 of 51
Part 7: Transactions
# Description Type Date Amount
1.
2.
3.
NIA
4.
5.
6.
7.
8.
9.
10.
11.
12.
13 .
14.
15.
16.
17.
18.
19.
20.
OGE Fonn 278e (March 20 14)
Instructions for Part 8
Note· This is a public form Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Name
Donald J. Trump
Part 8: Liabilities
# Creditor Name Type Amount Year Incurred Rate
I. Ladder Capital Finance LLC
2.
Trump Tower Commercial LLC -
mortgage
Over $50,000,000 2012 4.200%
Ladder Capital Finance I LLC 40 Wall Street LLC - loan Over $50,000,000 2015 3.665%
3.
Deutsche Bank Trust Company Americas Trump National Doral - mortgage Over $50,000,000 2012
LIBOR + 1.75% or
Prime minus .75%
4. Deutsche Bank Trust Company Americas Trump National Doral - mortgage $5,000,001 - $25,000,000 2012
LIBOR + 1.75% or
Prime minus .75%
5. The Bank of New York Mellon Trust Company
N .A. , as trustee
Fifty-Seventh Street Associates LLC -
issuer of secured lease bonds
$500,001 - $1 ,000,000 1996 7.125%
6. Investors Savings Bank Trump Park Avenue LLC - mortgage $5,000,001 - $25,000,000 2010 3.250%
7. Ladder Capital Finance LLC Trump Plaza LLC - mortgage $5,000,001 - $25,000,000 2014 3.850%
8.
Amboy Bank
Trump National Golf Club Colts Neck
LLC - mortgage
$5,000,001 - $25,000,000 2008 5.250%
9. Chevy Chase Trust Holdings, Inc. as successor
in interest to Bondy Way Development
Trump National Golf Club
Washington DC LLC - mortgage
$5,000,001 - $25,000,000 2009 5.500%
10. Royal Bank America Seven Springs - mortgage $5,000,001 - $25,000,000 2000 4.000%
11.a. UBS Real Estate Investments Inc.• TIHT Commercial LLC - mortgage $5,000,001 - $25,000,000 2006 6.180%
11.b. Ladder Capital Finance LLC* TIHT Commercial LLC - mortgage $5,000,001 - $25,000,000 2016 4.050%
Page Number
50 of 51
Term
Matures in 2022
Matures in 2025
Matures in 2023
Matures in 2023
Matures in 2017
Matures in 2020
Matures in 2024
Matures in 2028
Matures in 2029
Matures in 2019
Matures in 2016
Matures in 2026
12. Merrill Lynch Credit Corporation 1094 S Ocean Blvd - mortgage $100,001 - $250,000 1994
13. Merrill Lynch Credit Corporation 124 Woodbridge Road - mortgage $50,001 - $100,000 1993
Six month LIBOR +
1.50%
Six month LIBOR +
1.75%
Matures in 2019
Matures in 2019
14. Chicago Unit Acquisition LLC TIHT Chicago - springing loan Over $50,000,000 2012 Prime+ 5%
Springing loan
15. Deutsche Bank Trust Company Americas TIHT Chicago - term loan $25,000,001 - $50,000,000 2012
16. Deutsche Bank Trust Company Americas Trump Old Post Office - loan Over $50,000,000 2015
17.
LIBOR + 2.00% or
Prime minus .50%
LIBOR or Prime +
2.00%
Matures in 2024
Matures in 2024
(*) UBS Real Estate Investments Inc. mortgage (11 .a.) was refinanced by Ladder Capital Finance LLC (1 1.b.) after the close of the reporting period in 2016.
NOTE: Reporting date for liabilities is May 31 , 2017 per 5 CFR 2634.308(b)(3).
OGE Fonn 278e (March 2014)
Instructions for Part 9
N ote: Th' IS . IS a pu bl' 1c f orm. D o not . inc I u d e account num b ers, street a dd resses, or f am1 'I y mem b er names.
Filer's Name
Donald J Trump
Part 9: Gifts and Travel Reimbursements
# Source Name City/State Brief Description
1.
2.
N/A
s f . d . f
ee instructions or require in ormat1on.
Page Number
51 of51
Value
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13 .
14.
15.
16.
17.
18.
19.
20.
Reference#
OOEForm271'c0ib.rth201JJ
Instructions for Part 2
Note.: This is a public form. Do not Include account numbers, st reet addresses, or fami ly member names. See instructions for required Information.
Filer's Nnme
PngcNumbcr
Donald J . Trump
Al of47
Part 2 disclosed entitles with assets over $1,000 or which produced income of over $200. This Schedule (EXHIBIT A) discloses the ownership structure of the entities on Part 2, as well as
additional entitles that are not disclosed on Part 2. For each of the entitles below that are not disclosed on Part 2, the numerical or text label indicates which reason for non-disclosure
applies. The numerical labels are as follows: •(1) have no independent value or income and are part of the entity structures listed in Part 2; (2) have no independent value or income and
provide back office support functions to other entitles; (3) are dormant/inactive; (4) have no independent value or Income and exist to hold license deals that are prospective, inactive, or
othenvlse do not currently have valuable assets or create income; or (5) have no independent value or Income, not inactive nor dormant, not part of an entity structure or license deal.
This Schedule is being provided to ensure a complete picture of the assets and holdings of the filer. Gaps in numerical sequence are due to the removal of previously reported items no
longer reportable on this exhibit. All of the interests listed below in this exhibit, which were formerly held by Donald J. Trump, directly or indirectly, are now held by Th e Donald J. Trump
Revocable Trust.
1 4 SHADOW TREE LANE LLC *{5)
Owned by:
%Ownership
1
99
2 4 SHADOW TREE LANE MEMBER CORP *(1)
Name
4 SHADOW TREE LANE MEMBER
CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by:
%0wnershlo
100
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Has ownership Interest In : EntltvName Ownership Title
4 SHADOW TREE LANE LLC 1.00% Managing Member
Role
Shareholder
3 40 Wall Development Associates, LLC *(1)
Owned by:
% Ownership
0.1
99.9
Name
Pare Consulting, Inc.
The Donald J. Trump Revocable Trust
Role
Member
Member
Has ownership Interest In: Entity Name Ownershlo
40 Wall Street LLC 99.90%
40 WALL STREET COMMERCIAL 100.00%
LLC
40 Wall Street Member Corp. 100.00%
Title
Member
Member
Shareholder
4 40 WALL STREET COMMERCIAL LLC
Owned by :
% Ownership
100
Name
40 Wall Development Associates, llC
Role
Member
s 40 Wall Street LLC
Owned by:
%Ownership
0.1
Name
40 Wall Street Member Corp.
Role
Managing Member
99.9
40 Wall Development Associates, LLC
Member
6 40 Wall Street Member Corp. *(1)
Owned by:
%Ownership
100
Name
Role
40 Wall Development Associates, llC Shareholder
Has ownership Interest In:
EntitvName
40 Wall Street LLC
Ownership
Title
0.10% Managing Member
7 401 MEZZ VENTURE LLC *(1)
Owned by:
Has ownership interest Jn:
%Ownership
1
49
so
Name
TRUMP CHICAGO MANAGING
MEMBERLLC
TRUMP CHICAGO MEMBER LLC
TIHT CHICAGO MEMBER
ACQUISITION LLC
Entity Name Ownership Title
401 North Wabash Venture LLC 100.00%
Member
Role
Managing Member
Member
Member
TRUMP CHICAGO RETAIL LLC 100.00% Member
s 401 North Wabash Venture LLC
Owned by:
Has ownership Interest In :
% Ownership Name
100 401 MEZZ VENTURE LLC
Entity Name
Ownership
TRUMP COMMERCIAL CHICAGO 100.00%
llC
Title
Member
Role
Member

OGEForm271~P,lari: h 201 ~ )
Instructions for Part 2
Note : This is a public form. Do not include account numbers, strl!et addresses, or hlmlly member names. See Instructions for required Information.
Filer's Name
Page Number
Donald J . Tnimp A2 of 47
Reference# ~---------------------------------------------------'
TRUMP PAYROLL CHICAGO LLC 100.00% Managing Member
9 809 NORTH CANON LLC
Owned by :
%Ownership
1
99
10 809 NORTH CANON MEMBER CORPORATION *(1 I
N!!M
809 NORTH CANON MEMBER
CORPORATION
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
809 NORTH CANON LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Title
Managing Member
Role
Shareholder
11 81 Pine Note Holder Inc. *(31
Owned by:
12 845 UN Limited Partnership
%Ownership
100
Name
DJT Holdings LLC
Role
Shareholder
Owned by:
%0wnershlo
60
40
13 Ace Entertainment Holdings Inc. *(31
Owned by:
% Ownership
100
14 All Countv Building Supplv & Maintenance Corp. *(31
Owned by:
%Ownership
25
75
15 AVIATION PAYROLL COMPANY*(21
Name
Trump 845 LP LLC
Trump 845 UN GP LLC
Name
DJT Holdings LLC
Name
DJT Holdings LLC
Trump Family Members
Role
Partner
Partner
Role
Shareholder
Role
Shareholder
Shareholder
Owned by:
%Ownership
100
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Role
Shareholder
16 B. Plaza Rea/Iv Corp. •(31--DISSOLVED 11110116
Owned by :
%Ownership
100
17 Beach Haven Apartments #3 LLC •r31
Name
Trump, Donald J.
Role
Shareholder
Owned by:
%Ownership
25
Name
The Donald J. Trump Revocable Trust
Role
Member
18 Beach Haven Apt#1. Inc. •r11
75
Trump Family Members
Member
Owned by :
%Ownership
25
Name
The Donald J, Trump Revocable Trust
Role
Shareholder
75
Has ownership interest in :
Entity Name
Starrett City Associates, LP.
Spring Creek Plaza LLC
20 Beach Haven Shopping Center LLC •r31
Trump Family Members
Ownership
0.86%
0.86%
Title
Partner
Member
Shareholder
Owned by:
21 Bedford Hiiis Corp. ""(1 I
%Ownership
25
75
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member
Owned by :
% Ownership
100
Has ownership Interest in :
Entltv Name
Seven Springs LLC
22 TRUMP BRIARCLIFF MANOR DEVELOPMENT LLC ""(21
Name
DJT Holdings LLC
Ownership
0.10%
Title
Member
Role
Sha reholder
Owned by :
%Ownership
0.1
99.9
Name
BRIARCLIFF PROPERTIES, INC.
DJT HOLDINGS LLC
Role
Member
Member

OOE Fann271c0.l>nh10U)
Instructions for Part 2
Note: This Is a public form. Do not Include account numbers, street add resses, or famlly member names. See Instructions for required Information.
Filer's Nnmc
Pngc Number
Donald J . Trump A3 of 4 7
Reference U
23 Briar Hall Operations LLC *(3)
Owned by:
%0wnershlo
0.1
99.9
24 BRIARCLIFF PROPERTIES, INC. *(1)
Name
Development Member Inc.
DJT Holdings LLC
Role
Member
Member
Owned by:
%Ownership
100
Has ownership interest in: Entltv Name Ownership
BRIAR HALL DEVELOPMENTLLC 0.10%
(N/K/A TRUMP BRIARCLIFF
MANOR DEVELOPMENT LLC)
25 Car/business Investments, S.R.L.
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Title
Member
Role
Shareholder
Owned by:
%Ownership
1
99
Name
THE CARI BUSINESS RE CORP
CARIBUSINESS MRE LLC
Role
Member
Member
26 CAR/BUSINESS MRE LLC *(11
Owned by :
%Ownership
1
Name
THE CARIBUSINESS RE CORP
Role
Managing Member
Has ownership Interest in :
99
Entity Name
Car/business Investments, S.R.L
OJT Holdings LLC
Ownership
99.00%
Title
Member
Member
27 Chelsea Hall LLC *(3!
Owned by:
%Ownership
25
75
28 CHICAGO UNIT ACQ.U/SIT/ON LLC *(5!
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member
Owned by :
29 CHINA TRADEMARK LLC *(3!
%Ownership
100
Name
DJT Holdings LLC
Role
Member
Owned by:
30 Cl'f.de Hall, Inc. *(3!
%Ownership
100
Name
DJT Holdings LLC
Role
Member
Owned by:
31 Coronet Hall, Inc. *(3!
%Ownership
25
75
Name
DJT Holdings LLC
Trump Famlly Members
Role
Shareholder
Shareholder
Owned by :
32 Count[]{_ Apartments, LLC
%Ownership
25
75
Name
DJT Holdings LLC
Trump Family Members
Role
Shareholder
Shareholder
Owned by:
33 Count[]{_ Investors LLC *(3!
%Ownership
25
75
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member
Owned by:
34 Count[]{_ Properties, LLC
%Ownership
25
75
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member
Owned by:
%Ownership
25
7S
35 DB PACE ACQ.UISIT/ON MEMBER CORP *(1!
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member
Owned by :
Has ownership interest In :
% Ownership
100
Entltv Name
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownership
Title
Role
Shareholder

00F.Foon271c(M1n:h20I~)
Reference#
Instructions for Part 2
Note: Th is iS a public form. Do not include account numbers, street addresses, or family member na mes. See Instructions for required Information.
Filer's Name
Page Number
Donald J . Trump A4 of 47
D B Pace Acquisition, LLC
1.00%
Managing Member
36 D B Pace Acquisition, LLC
Owned by:
37 Development Member Inc. *(3)
Owned by:
%0wnershlo
1
Has ownership interest in :
Briar Hall Operations LLC
38 DJ Aerospace (Bermuda) Limited *(3)
99
%Ownership
100
Name
D B PACE ACQUISITION MEMBER
CORP
DJT Holdings LLC
Name
DJTHOLDINGS MANAGING MEMBER
LLC
Ownership
Title
0.10%
Member
Role
Managing Member
Member
Role
Shareholder
Owned by:
39 DJT AEROSPACE LLC
%Ownership
100
Name
DJT Holdings LLC
Role
Shareholder
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Member
40 DJT ENTREPRENEUR MANAGING MEMBER LLC *(1)
Owned by :
%Ownership
100
Has ownership Interest In :
Entity Name
THETRUMP ENTREPRENEUR
INITIATIVE LLC (NY DOMESTIC)
41 DJT ENTREPRENEUR MEMBER LLC *(1)
Name
DJT Holdings LLC
Ownership
0.10%
Title
Managing Member
Role
Member
Owned by: % Ownership Name
100 DJT Holdings LLC
Has ownership Interest In :
Entity Name
THE TRUMP ENTREPRENEUR
Ownership
91.90%
INITI ATIVE LLC (NY DOMESTIC)
42 DJT HOLDINGS LLC
Title
Member
Role
Member
Assumed Names :
Owned by:
DJT 3 HOLDINGS LLC
% 0wnershlo
1
99
Jurisdiction
Fl orida
Name
DJT HOLDINGS MANAGING MEMBER
LLC
The Donald J. Trump Revocable Trust
Expiration Date
Role
Managing Member
Member
Has ownership Interest In :
various entities as indicated elsewhere In this schedule
43 DJT HOLDINGS MANAGING MEMBER LLC *(11
Owned by:
%Ownership
100
Name
The Donald J. Tru mp Revocable Trust
Role
Member
Has ownership Interest In :
various entities as indicated elsewhere in this schedule
44 DJT LAND HOLDINGS MEMBER CORP *{31
Owned by: %Ownership Name
100 DJT HOLDINGS MANAGING MEMBER
LLC
45 DJT OPERA T/ONS ex LLC *£51
Owned by : %Ownership Name
100 DJT Holdings LLC
46 DJT OPERA T/ONS I LLC
Owned by: ~ Ownership Name
100 The Donald J. Trump Revocable Trust
Role
Shareholder
Role
Member
Role
Member
47 DJT OPERATIONS II LLC *(11
Owned bv : %0wnershl~ Name
Role
Reference#
cxm F«m271cCM•n:h201~J
Instructions for Part 2
Note: This is a publfc form . Do not Include account numbers, street addresses, or famlly member names. See instructions for required Information.
Filer's Name
Pogc Number
Donald J . Trump
AS of47
100
The Donald J. Trump Revocable Trust
Member
Has ownership Interest In:
EntltvName
TAG AIR INC.
Ownershlo
100.00%
Title
Shareholder
48 Donald J Trump Enterprises LLC *(3/
Owned by:
% Ownership
100
49 Donald J. Trump Enterprises II LLC *(3/
Owned by:
%Ownership
100
so Donald J. Trump Enterprises Ill LLC *(3/
Owned by:
% Ownership
100
51 DSN LICENSING LLC *(3/--DISSOLVED 1119/16
Name
Trump Family Members
Name
Trump Famlly Members
Name
Trump Family Members
Role
Member
Role
Member
Role
Member
Owned by:
%Ownership
l
99
Name
Trump, Donald J.
DSN LICENSING MEMBER CORP
Member
Managing Member
sz OSN LICENSING MEMBER CORP *(3/--DISSOLVED 1119116
Owned by:
Has ownership interest In :
%Ownership
100
Entity Name
OSN LICENSING LLC
Name
Trump, Donald J.
Ownership
99.00%
Title
Managing Member
Role
Shareholder
53 DT APP WARRANT HOLDING LLC *(3/
Owned by:
%Ownership
Name
OT APP WARRANT HOLDING
MANAGING MEMBER CORP
99 DTIM OPERATIONS LLC
54 DT APP WARRANT HOLDING MANAGING MEMBER CORP *(3/
Role
Managing Member
Member
Owned by:
Has ownership Interest Jn:
ss DT CONNECT II LLC
%Ownership
100
Entity Name
OT APP WARRANT HOLDING LLC 1.00%
Name
DTIM Operations Managing
Member Corp
Ownership
Title
Managing Member
Role
Shareholder
Owned by:
%Ownership
1
Name
OT CONNECT II MEMBER CORP
Role
Managing Member
99
56 DT CONNECT II MEMBER CORP *(1/
OJT HOLDINGS LLC
Member
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership interest In : Entity Name Ownership Title
OT CONNECT 11 LLC 1.00% Managing Member
59 DT DUBAI GOLF MANAGER LLC
Owned by :
%Ownership
l
99
60 DT DUBAI GOLF MANAGER MEMBER CORP *(1 I
Name
OT DUBAI GOLF MANAGER MEMBER
CORP
OJT Holdings LLC
Role
Managing Member
Member
Owned by : % Ownership Name Role
100 OJT HoldJngs Managing Member LLC Shareholder
Has ownership interest In : Entity Name Ownership Title
OT DUBAI GOLF MANAGER LLC 1.00% Managing Member
61 DT DUBAI II GOLF MANAGER LLC
Reference ti
OO F. Form211a (:\f..,d1 201.&)
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or famlly member names. See Instructions for required information.
Filer's No.me
Pnge Number
Donald J. Trump
A6of4
Owned by:
%Ownership
1
99
62 DT DUBAI II GOLF MANAGER MEMBER CORP '(1)
Name
OT DUBAI II GOLF MANAGER
MEMBER CORP
TTTT VENTURE LLC
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In : Entity Name Ownership
OT DUBAI 11 GOLF MANAGER LLC 1.00%
Title
Managing Member
63 DT HOME MARKS INTERNATIONAL LLC
Owned by:
%Ownership
1
Name
OT HOME MARKS INTERNATIONAL
MEMBER CORP
99 DTTM OPERATIONS LLC
64 DT HOME MARKS INTERNATIONAL MEMBER CORP '(1)
Owned by:
%0wnershlo
100 DTIM Operations Managing
Member Corp
Has ownership Interest In: Entltv Name Ownership
OT HOME MARKS INTERNATIONAL 1.00%
LLC
6S DT IND/A VENTURE LLC '(3)
Title
Managing Member
Role
Managing Member
Member
Role
Shareholder
Owned by :
%Ownership
1
99
66 DT IND/A VENTURE MANAGING MEMBER CORP '(3)
Name
OT INDIA VENTURE MANAGING
MEMBER CORP
DTTM OPERATIONS LLC
Role
Member
Member
Owned by :
Has ownership Interest In :
67 DT MARKS BAKU LLC '(3)
%0wnershlo
100
Entity Name
OT INDIA VENTURE LLC
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Member
Role
Shareholder
Owned by:
%Ownership
1
99
68 DT MARKS BAKU MANAGING MEMBER CORP '(3)
Name
OT MARKS BAKU MANAGING
MEMBER CORP
DTTM OPERATIONS LLC
Role
Managing Member
Member
Owned by:
Has ownership interest In:
%Ownership
100
Entity Name
OT MARKS BAKU LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
71 DT MARKS DUBAI LLC '(4)
Owned by:
%Ownership
1
rilmg
OT MARKS DUBAI MEMBER CORP
Role
Managing Member
99
72 DT MARKS DUBAI MEMBER CORP '(4)
DTTM OPERATIONS LLC
Member
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
OT MARKS DUBAI LLC
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
73 DT MARKS GURGAON LLC 'f41
Owned by:
%Ownership
Name
1 OT MARKS GURGAON MANAGING MEMBER CORP
Role
Managing Member
99 DTTM OPERATIONS LLC
Member
OGEFonn278c(M....:hlOIJ)
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or famlly member names. See instructions for required Information.
Filcr'sNnme
PngcNumbcr
Donald J . Trump
A7 of47
Reference#
74 DT MARKS GURGAON MANAGING MEMBER CORP *(41
Owned by :
Has ownership Interest In:
%Ownership
100
EntltvName
OT MARKS GURGAON LLC
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
75 DT MARKS JERSEY CITY LLC *(41
Owned by:
76 DT MARKS JUPITER LLC •(4/
%Ownership
100
Name
DTIM OPERATIONS LLC
Role
Member
Owned by:
%Ownership
100
Name
DTIM OPERATIONS LLC
Role
Managing Member
77 DT MARKS PRODUCTS INTERNATIONAL LLC Y4/
Owned by:
%Ownership
1
Name
OT MARKS PRODUCTS
INTERNATIONAL MEMBER CORP
99 DTIM OPERATIONS LLC
78 DT MARKS PRODUCTS INTERNATIONAL MEMBER CORP *(41
Role
Managing Member
Member
Owned by :
Has ownership Interest In:
79 DT MARKS PUNE II LLC <(31
%Ownership
100
EntltvName
OT MARKS PRODUCTS
INTERNATIONAL LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
Owned by:
%Ownership
1
99
Name
OT MARKS PUNE 11 MANAGING
MEMBER CORP
DTIM OPERATIONS LLC
Role
Managing Member
Member
80 DT MARKS PUNE II MANAGING MEMBER CORP Y31
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
OT MARKS PUNE II LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
81 DT MARKS PUNE LLC *(4/
Owned by:
%Ownership
1
99
82 DT MARKS PUNE MANAGING MEMBER CORP *(41
Name
OT MARKS PUNE MANAGING
MEMBER CORP
DTIM OPERATIONS LLC
Role
Managing Member
Member
Owned by :
Has ownership interest In:
%Ownership
100
Entity Name
OT MARKS PUNE LLC
Name
OTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
83 DT MARKS QATAR LLC *(3/--DISSOLVED 1126117
Owned by:
%Ownership
1
Name
OT MARKS QATAR MEMBER CORP
Role
Managing Member
99 DTIM OPERATIONS LLC
84 DT MARKS QATAR MEMBER CORP *(3/--DISSOLVED 1126117
Member
Owned by:
Has ownership interest In :
%Ownership
100 DTIM Operations Managing
Member Corp
Ownership
Role
Shareholder
OGE F orm 27 1 c C. l.Slch 20 1~ )
Reference#
Instructions for Part 2
Note : This Is a public form . Do not include account numbers, street addresses, or famlly member names. See Instructions for required information.
Filer's Nnme
Pnge Number
Donald J . Trump
A8 of47
DT MARKS QA TAR LLC
1.00%
Managing Member
BS DT MARKS RIO LLC '(3)
Owned by:
%Ownership
Name
DT MARKS RIO MEMBER CORP
Role
Managing Member
99
86 DT MARKS RIO MEMBER CORP *(3)
DTIM OPERATIONS LLC
Member
Owned by :
Has ownership Interest in :
%Ownership
100
Entity Name
DT MARKS RIO LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
87 DT MARKS VANCOUVER LP
Owned by:
%Ownership
1
99
Name
Title
OT MARKS VANCOUVER MEMBER General Partner
CORP
The Donald J. Trump Revocable Trust limited Partner
BB DT MARKS VANCOUVER MEMBER CORP *(1)
Owned by :
Has ownership Interest In :
89 DT Marks Worli LLC
%Ownership
100
Entity Name
DT MARKS VANCOUVER LP
Name
OTIM Operations Managing
Member Corp
Ownership
1.000000 units (100.00 %)
Title
General Partner
Role
Shareholder
Owned by:
%Ownership
1
Name
OT Marks Worli Member Corp
Role
Managing Member
99
90 DT Marks Worl/ Member Corp *(1)
DTIM OPERATIONS LLC
Member
Owned by:
Has ownership Interest In :
%Ownership
100
EntltvName
OT Marks Worli LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
91 DT TOWER GURGAON LLC
Owned by:
%Ownership
1
99
92 DT TOWER GURGAON MANAGING MEMBER CORP *(1)
Name
OTTOWER GURGAON MANAGING
MEMBER CORP
TITI Venture LLC
Role
Managing Member
Member
Owned by :
Has ownership interest in:
%Ownership
100
Entity Name
DTTOWER GURGAON LLC
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
93 DTW VENTURE LLC
Owned by :
% Ownership
100
94 DTW VENTURE MANAGING MEMBER CORP. *(3)
~
DJT Hold ings LLC
Role
Member
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
9S EID Venture I Corporation *(3)
Owned by:
96 EID Venture I LLC *(3)
%Ownership
100
OTIM Operations Managing
Member Corp
Role
Shareholder
Owned by :
%Ownership

OO Ef orm 271cQ\~ h :lO I~ )
p-
Instructions for Part 2
Note: This Is a public form . Do not indude account numbers, street addresses, or family member names. See Instructions for required Information.
f-
100
97 Excel Venture I Corporation •r1 I
DTIM OPERATIONS LLC
Member
Owned by:
%0wnershlo
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest In:
EntitvName
Excel Venture I LLC
Ownership
Title
1.00% Managing Member
98 Excel Venture I LLC
Owned by:
%Ownership
1
Name
Excel Venture I Corporation
Role
Managing Member
99
99 Fiftv-Seven Management Corp. •r1 I
DJT HOLDINGS LLC
Member
Owned by :
%Ownership
100
Name
The Donald J, Trump Revocable Trust
Role
Shareholder
Has ownership interest In :
EntltvName
Fifty-Seventh Street Associates
LLC
100 Flftv-Seventh Street Associates LLC
Ownership
Title
1.00% Managing Member
Owned by :
%0wnershlo
1
Name
Fifty-Seven Management Corp.
Role
Managing Member
101 FIRST MEMBER INC *(1 I
99
The Trump-Equitable Fifth Avenue
Company
Member
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership Interest In :
Entltv Name
TRUMP PALACE/PARC LLC
Ownership
Title
0.10% Managing Member
102 FLIGHTS INC *(51
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
103 FLORIDA PROPERTIES MANAGEMENT LC •r21
Owned by:
% Ownership
100
104 Fountainbleu Apartments LLC *(31
Name
OJT Holdings LLC
Role
Member
Owned by:
10s Golf Productions LLC •rs1
%Ownership
25
75
Name
OJT Holdings LLC
Trump Family Members
Role
Me mber
Member
Owned by:
%Ownership
1
Name
Golf Productions Member Corp
Role
Managing Member
99
106 Golf Productions Member Corp *(11
DJT Holdings LLC
Member
Owned by:
% Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
Golf Productions llC
Ownership
Tltle
1.00% Managing Member
107 Golf Recreation Scotland Limited •r1 I
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
TRUMP TURNBERRY
Name
TURNBERRY SCOTLAND LLC
Ownership
100.00%
Title
Shareholder
Role
Sole Member
108 HELICOPTER AIR SERVICES INC •(JI
OOEForm271c(}.!1t'Ch 201J)
Reference#
Instructions for Part 2
Note: This Is a public form . Do not include account numbers, street addresses, or famlly member names. See Instructions for requ ired Information.
Filcr'sNnmc
PngcNumbcr
Donald J. Trump
AIO of4
Owned by:
%Ownership
100
110 Hudson Waterfront Associates I. LP •(1)
Name
DJTHOLDINGS MANAGING MEMBER
LLC
Role
Shareholder
Owned by :
%Ownership
1
69
30
Name
HUDSON WATERFRONT I
CORPORATION
HUDSON WESTSIDE ASSOCIATES I,
L.P.
The Donald J. Trump Revocable Trust
Role
Partner
Partner
Partner
Has ownership Interest Jn:
Entity Name
HWA SSS Owners, LLC
111 Hudson Waterfront Associates I/, LP >(5!
Ownership
Title
100.00% Partner
Owned by:
%Ownership
1
69
30
Name
HUDSON WATERFRONT 11
CORPORATION
HUDSON WESTSIDE ASSOCIATES II,
L.P.
The Donald J. Trump Revocable Trust
Role
Partner
Partner
Partner
112 Hudson Waterfront Associates Ill, LP •r1 J
Owned by:
%0wnershlo
1
69
30
Name
HUDSON WATERFRONT Ill
CORPORATION
HUDSON WESTSIDE ASSOCIATES Ill,
L.P.
The Donald J. Trump Revocable Trust
Role
Partner
Partner
Partner
Has ownership interest in :
Entity Name
HWA 1290 Ill LLC
Ownership
100.00%
Tltle
Partner
113 Hudson Waterfront Associates IV. LP >(11
Owned by :
%Ownership
1
69
30
Name
HUDSON WATERFRONT IV
CORPORATION
HUDSON WESTSIDE ASSOCIATES IV,
L.P.
The Donald J. Trump Revocable Trust
Role
Partner
Partner
Partner
Has ownership Interest In :
Entity Name
HWA 1290 IV LLC
Ownershlo
100.00%
Title
Partner
114 Hudson Waterfront Associates V LP '(11
Owned by:
%Ownership
1
69
30
Name
HUDSON WATERFRONT V
CORPORATION
HUDSON WESTSIDE ASSOCIATES V,
L.P.
The Donald J. Trump Revocable Trust
Role
Partner
Partner
Partner
Has ownership Interest in:
Entity Name
HWA 1290 V LLC
Ownershio
100.00%
Title
Partner
116 Indian Hills Holdings LLC '(3/
Owned by:
% Ownership
100
117 TRUMP NATIONAL GOLF CLUB - JUPITER
Owned by:
%Ownership
1
99
118 JUPITER GOLF CLUB MANAGING MEMBER CORP '(1!
Name
DJT Holdings LLC
Name
JUPITER GOLF CLUB MANAGING
MEMBER CORP
DJT HOLDINGS LLC
Role
Member
Role
Managing Member
Member
Owned by:
Has ownership Interest In:
% Ownership
100
Name
DJTHOLDINGS MANAGING MEMBER
LLC
Role
Shareholder

OGE Form 2 11~0. bn: ll 20 1-I )
Instructions for Part 2
Note: This is a public form . Do not Include account numbers, street addresses, or famllv member names. See instructions for required information.
Filer's Nnmc
Page Number
DonaldJ. Trump
II of47
Reference ti
TRUMP NATIONAL GOLF CLUB -
JUPITER
119 LAMINGTON FAMILY HOLDINGS LLC
1.00%
Managing Member
Owned by:
% Ownership
100
120 TRUMP NA T/ONAL GOLF CLUB - BEDMINSTER
Owned by:
%0wnershlo
100
121 Lawrence Towers Apartments LLC *(31
Name
DJT Holdings LLC
Name
LFB ACQUISITION LLC
Role
Member
Role
Member
Owned by:
122 LFB ACQUISITION LLC >(11
%Ownership
2S
7S
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member
Owned by:
%Ownership
1
Name
LFB ACQUISITION MEMBER CORP
Role
Managing Member
99
DJT HOLDINGS LLC
Has ownership Interest In : Entltv Name Ownership
TRUMP NATIONAL GOLF CLUB- 100.00%
BEDMINSTER
123 LFB ACQUISITION MEMBER CORP *(1 I
Title
Member
Member
Owned by:
Has ownership interest In :
%Ownership
100
EntltvName
LFB ACQUISITION LLC
Name
DJTHOLDINGS MANAGING MEMBER
LLC
Ownershio
Title
1.00%
Managing Member
Role
Shareholder
12S MAR-A-LAGO CLUB INC *(1!
Owned by:
Has ownership interest In :
126 MAR-A-LAGO CLUB, L.L.C.
%Ownership
100
Entity Name
MAR-A-LAGO CLUB, L.LC.
MALC,lnc.
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownershio
Title
0.01%
Member
100.00%
Shareholder
Role
Shareholder
Assumed Names: ~
MAR-A-LAGO CLUB, LLC., LC.
Owned by:
%Ownership
0.01
99.99
127 Mid/and Associates *(3!
Owned by:
%Ownership
2S
7S
12B NITTO WORLD CO., LIMITED *(31
Owned by:
%Ownership
100
129 OCEAN DEVELOPMENT MEMBER INC *(31
Name
MAR-A-LAGO CLUB INC
The Donald J. Trump Revocable Trust
Name
DJT Holdings LLC
Trump Family Members
Name
TRUMP TURNBERRY
Role
Member
Member
Role
Partner
Partner
Role
Shareholder
Owned by:
Has ownership Interest In :
%Ownership
100
131 One Central Park West Associates *(31
Entity Name
OCEAN DEVELOPMENT SERVICES
LLC
Name
DJT Holdings LLC
Ownership
1.00%
Title
Member
Role
Shareholder
Owned by:
%0wnershlo
so
Name
TRUMP CENTRAL PARK WEST CORP
Role
Partner
Has ownership Interest In :
Entity Name
One Central Park West PT
Associates
132 One Central Park West PT Associates *(3!
50
GALBREATH COLUMBUS CIRCLE
DEVELOPMENT ASSOCIATES, LP.
Ownership
34.30%
Title
Member
Partner
00E fonn271c(~ l..,..h 20 1J )
Instructions for Part 2
Note: This Is a public form . Do not Include account nu mbers, street addres.ses, or family member names. See Instructions for required information.
Filer's Nnme
Pnge Number
Donald J . Trump 12 of 47
Reference# '---------------------------------------------------'
Owned by:
%Ownership
34.3
Name
One Central Park West Associates
Role
Partner
65.7
133 OPO HOTEL MANAGER LLC ""(51
Owned by :
%Ownership
1
22.50
76.50
134 OPO HOTEL MANAGER MEMBER CORP *{1/
CPW PT Partners, G.P.
Name
OPO HOTEL MANAGER MEMBER
CORP
Trump Family Members
DJT HOLDINGS LLC
Partner
Role
Managing Member
Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
OPO HOTEL MANAGER LLC
Ownership
Title
1.00% Managing Member
135 OWO DEVELOPER LLC ""(3/
Owned by :
% Ownership
100
136 PANAMA OCEAN CLUB MANAGEMENT LLC *(3/
N!.mg
DJT Holdings LLC
Role
Member
Owned by :
%Ownership
1
Name
PANAMA OCEAN CLUB
MANAGEMENT MEMBER CORP
99 DJT Holdings LLC
137 PANAMA OCEAN CLUB MANAGEMENT MEMBER CORP ""(3/
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In:
Entity Name
PANAMA OCEAN CLUB
MANAGEMENT LLC
BB Paramount RPV Holdings LLC *f31-DISSOLVED 10/14116
Ownership
Title
1.00% Managing Member
Owned by :
%Ownership
1
Name
Paramount RPV Holdings Manager
Corp
99 DJT HOLDINGS LLC
139 Paramount RPV Ho/dings Manager Corp •t3/--DISSOLVED 10114116
Role
Managing Member
Member
Owned by:
Has ownership Interest in :
%Ownership
100
Entity Name
Paramount RPV Hold ings LLC
Name
Trump, Donald J.
Ownershlo
1.00%
Title
Managing Member
Role
Shareholder
140 Pare Consulting, Inc. •r11
Owned by :
%0wnershlo
100
~ Role
DJT Holdings Managing Member LLC
Shareholder
Ha s ownership interest in :
141 Park Briar Associates ""(1 J
40 Wall Development Associates, 0.10%
LLC
Member
Owned by:
% Ownership
25
Name
The Donald J. Trump Revocable Trust
Role
Partner
75
Has ownership Interest in:
Entity Name
Starrett City Associates, L.P.
Spring Creek Plaza LLC
142 PINE HILL DEVELOPMENT LLC
Trump Family Members
Ownership
1.47%
1.47%
Title
Partner
Member
Partner
Owned by :
%Ownership
Name
PINE Hill DEVELOPMENT
MANAGING MEMBER CORP
99 DJT HOLDINGS LLC
143 PINE HILL DEVELOPMENT MANAGING MEMBER CORP •t1/
Role
Managing Member
Member
p-
Instructions for Part 2
Note: This Is a publJc form . Do not include account numbers, street addresses, or famllv member names. See Instructions for required Information.
Donald J . Trump
f-
A J3 of47
OGE •. °"""" 211c (~l ~ ""'h 201.i)
Has ownership Interest In :
EntltvName
PINE Hill DEVELOPMENT LLC
Ownership
1.00%
Title
Managing Member
144 Plaza Consulting Corp. *(1 I
Owned by : % Ownershlo Name Role
100 The Donald J. Trump Revocable Trust Shareholder
Has ownership Interest in : Entity Name Ownership Title
The East61StreetCompanv, LP 0.10% Partner
145 POKER VENTURE LLC *(3)
Owned by :
%Ownership
1
99
146 POKER VENTURE MANAGING MEMBER CORP *(31
Name
POKER VENTURE MANAGING
MEMBER CORP
DTIM OPERATIONS LLC
Role
Managing Member
Member
Owned by :
Has ownership Interest In:
%Ownership
100
Entity Name
POKER VENTURE LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
147 Req-Tru Equities, LTD *(3)
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
148 RESTAURANT 40 LLC *(3)--DISSOLVED 1119/16
Owned by:
%Ownership
1
99
Name
Restaurant 40 Member Corp
Trump, Donald J.
Role
Managing Member
Member
149 RESTAURANT 40 MEMBER CORP *(31--DISSOLVED 1119116
Owned by:
Has ownership interest In :
%Ownership
100
Entity Name
RESTAURANT 40 LLC
Name
Trump, Donald J.
Ownership
1.00%
Title
Managing Member
Role
Shareholder
150 RPV DEVELOPMENT LLC *(1 I
Owned by:
%Ownership
100
Has ownership interest in : Entitv Name Ownership
TRUMP NATIONAL GOLF CLUB - 100.00%
LOS ANGELES
151 SCOTLAND ACQUISITIONS LLC *(3)
Owned by :
% Ownership
100
152 SENTIENT JETS MEMBER CORP *(3/--DISSOLVED 1119116
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Name
DJT Holdings LLC
Tltle
Shareholder
Role
Member
Role
Member
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
TRUMP JETS LLC
Name
Trump, Donald J,
Ownership
1.00%
Title
Managing Member
Role
Shareholder
153 Seven Springs LLC
Owned by:
%Ownership
0.1
Name
Bedford Hills Corp.
Role
Managing Member
154 Shore Haven Apt#1, Inc. *(1 !
99.9
DJT HOLDINGS LLC
Member
Owned by :
%0wnershlo
Name

OGE Form 218c{MM<h W I~)
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See Instructions for required information.
Filer's Nnmc
Donald J. Trump
Page Number
14 of4
Reference# ~-------------------------------------------------~
2S
The Donald J. Trump Revocable Trust
Shareholder
7S
Has ownership interest in :
Entity Name
Starrett City Associates, L.P.
Spring Creek Plaza LLC
1S6 Shore Haven Shopping Center LLC *(31
Trump Family Members
Ownership
Title
1.72% Partner
1.72% Member
Shareholder
Owned by:
1S7 TRUMP TURNBERRY
%Ownership
2S
7S
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member
Owned by:
%Ownership
100
Name
Golf Recreation Scotland limited
Role
Sole Shareholder
Has ownership interest in :
Entity Name
NllTO WORLD CO., LIMITED
Ownership
100.00%
Title
Shareholder
!S9 Sussex Hall. Inc. *(31
Owned by:
%Ownership
2S
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
160 T International Rea/tv LLC
7S
Trump Family Members
Shareholder
Owned by:
%Ownership
SS
The Donald J. Trump Revocable Trust Managing Member
4S
Trump Family Members
Member
161 TAG AIR INC. *(21
Owned by :
% Ownership
100
162 THC BAKU HOTEL MANAGER SERVICES LLC *(41
Name
DJT OPERATIONS 11 LLC
Role
Shareholder
Owned by :
%Ownership
Name
THC BAKU HOTEL MANAGER
SERVICES MEMBER CORP.
99 DJT Holdings LLC Member
163 THC BAKU HOTEL MANAGER SERVICES MEMBER CORP. *(41
Role
Managing Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
THC BAKU HOTEL MANAGER
SERVICES LLC
164 THC BAKU SERVICES LLC *(41
Ownership
Title
1.00% Managing Member
Owned by:
%Ownership
1
Name
THC BAKU SERVICES MEMBER CORP
Role
Managing Member
99
165 THC BAKU SERVICES MEMBER CORP *(41
DJT Holdings LLC
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest Jn :
Entity Name
THC BAKU SERVICES LLC
Ownership
Title
1.00% Managing Member
166 THC Barra Hate/aria LTDA. *(41
Owned by:
%Ownership
99
167 THC CENTRAL RESERVATIONS LLC
Name
OJT Holdings LLC
THC DEVELOPMENT BRA21L
MANAGING MEMBER CORP
Role
Shareholder
Shareholder
Owned by :
%Ownership
1
Name
THC CENTRAL RESERVATIONS
MEMBER CORP
Role
Managing Member

OGE Fonn 271~ (M""""h WU)
Instructions for Part 2
Note: This Is a public form. Do not include account numbers, street addresses, or famlly member names. See instructions for required Information.
Filer's Nome
Poge Number
Donald J . Trump A 15 of 47
Reference ti
99
168 THC CENTRAL RESERVATIONS MEMBER CORP •(1)
OJT Holdings LLC
Member
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest in : Entity Name Ownership
THC CENTRAL RESERVATIONS LLC 1.00%
Title
Managing Member
169 THC CHINA DEVELOPMENT LLC
Owned by:
%Ownership
100
170 THC CHINA TECHNICAL SERVICES LLC •(3)
Name
TRUMP INTERNATIONAL HOTELS
MANAGEMENTLLC
Role
Member
Owned by:
%Ownership
1
99
Name
THC CHINA TECHNICAL SERVICES
MANAGER CORP
DJT Holdings LLC
Role
Managing Member
Member
171 THC CHINA TECHNICAL SERVICES MANAGER CORP •(3)
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In : Entity Name Ownership
THC CHINA TECHNICAL SERVICES 1.00%
LLC
172 THC DEVELOPMENT BRAZIL LLC. ""(3)
Title
Managing Member
Owned by:
%0wnershlo
1
Name
THC DEVELOPMENT BRAZIL
MANAGING MEMBER CORP
99 DJT Holdings LLC
173 THC DEVELOPMENT BRAZIL MANAGING MEMBER CORP •(3)
Role
Managing Member
Member
Owned by: % Ownership Name Role
100 OJT Holdings Managing Member LLC Shareholder
Has ownership Interest in : Entity Name Ownership Title
THC DEVELOPMENT BRAZIL LLC. 1.00% Managing Member
THC Barra Hotelaria LTDA
1.00%
Managing Member
176 THC HOTEL DEVELOPMENT LLC ""(31
Owned by:
%Ownership
100
Name
DJT Holdings LLC
Role
Member
177 THC IMEA DEVELOPMENT LLC
Owned by:
%Ownership
100
178 THC MIAMI RESTAURANT HOSPITALITY LLC
Name
TRUMP INTERNATIONAL HOTELS
MANAGEMENT LLC
Role
Member
Owned by:
%Ownership
1
Name
THC MIAMI RESTAURANT
HOSPITALITY MEMBER CORP
99 DJT Holdings LLC
179 THC MIAMI RESTAURANT HOSPITALITY MEMBER CORP '(1)
Role
Managing Member
Membe r
Owned by:
%0wnershlo
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In : Entity Name Ownership
THC MIAMI RESTAURANT 1.00%
HOSPITALITY LLC
180 THC QATAR HOTEL MANAGER LLC ""(3)--DISSOLVED 1126117
Title
Managing Member
Owned by:
OO~Fonn :m c(March20 t-I)
Instructions for Part 2
Note: This is a public form . Do not Incl ude account numbers, street addresses, or family member names. See Instructions for required Information.
Filer's Name
Page Number
Oonald J. Trump
Al6 of47
Reference U ~~~~~~~~~~~~~~~~~~~~~~--,,.TH-C~QA,-.,,T_A_R~H~O~TE~L~M~A~N~A~G~E-R~~~~~~~~~M~an_a_g_ln_g_M_e_m~b-er~~~~-'
MEMBER CORP
99 DJT Holdings LLC
181 THC QATAR HOTEL MANAGER MEMBER CORP •(3)--DISSOLVED 1126117
Member
Owned by :
% Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entitv Name
Ownership
THC QATAR HOTEL MANAGER LLC 1.00%
Title
Managing Member
182 THC RIO MANAGER LLC ""(3)
Owned by:
%Ownership
1
Name
THC RIO MANAGING MEMBER CORP
Role
Managing Member
99
183 THC RIO MANAGING MEMBER CORP •(3)
DJT Holdings LLC
Member
Owned by :
% Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
THC RIO MANAGER LLC
Ownership
Title
1.00% Managing Member
184 THC SALES & MARKETING LLC
Owned by:
%Ownership
1
99
185 THC SALES & MARKETING MEMBER CORP ""(1)
Name
THC SALES & MARKETING MEMBER
CORP
DJT Holdings LLC
Role
Managing Member
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest in :
Entity Name
THC SALES & MARKETING LLC
Ownership
Title
1.00% Managing Member
186 THC SERVICES SHENZHEN LLC •(3)
Owned by:
%Ownership
1
99
187 THC SERVICES SHENZHEN MEMBER CORP •(3)
Name
THC SERVICES SHENZHEN MEMBER
CORP
OJT Holdings LLC
Role
Managing Member
Member
Owned by:
%0wnershlo
100
Name
OJT Hold ings Managing Member LLC
Role
Shareholder
Has ownership interest In :
EntltvName
THC SERVICES SHENZHEN LLC
Ownership
Title
1.00% Managing Member
188 THC SHENZHEN HOTEL MANAGER LLC •(3)
Owned by:
%Ownership
1
Name
THC SHENZHEN HOTEL MANAGER
MEMBER CORP
99 OJT Holdings LLC Member
189 THC SHENZHEN HOTEL MANAGER MEMBER CORP •(3)
Role
Managing Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In : Entity Name Ownership
THC SHENZHEN HOTEL MANAGER 1.00%
LLC
190 THC VANCOUVER MANAGEMENT CORP
Title
Managing Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
191 THC VANCOUVER PAYROLL ULC ""(2)
Owned by :
OCll!FamlTBo(M:in: h lO I~)
Reference#
Instructions for Part 2
Note: This Is a pu blic fo rm. Do not include account numbers, street addresses, or family member names. See Instructions for required Information.
Filer's Nnme
Pase Number
Donald J . TNmp A 17 of 47
100
THC VANCOUVER MANAGEMENT
CORP
Member
192 THC VENTURE I LLC •(3)
Owned by :
%Ownership
99
193 THC VENTURE I MANAGING MEMBER CORP. ""(3)
Name
DJT HOLDINGS LLC
THC VENTURE I MANAGING
MEMBER CORP
Role
Member
Member
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
THC VENTURE 1 LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
194 THC VENTURE II LLC •(3)
Owned by :
%Ownership
1
99
195 THC VENTURE II MANAGING MEMBER CORP. '(3)
Name
THC VENTURE 11 MANAGING
MEMBER CORP.
DTIM OPERATIONS LLC
Role
Managing Member
Member
Owned by :
Has ownership Interest In :
%Ownership
100
Entity Name
THC VENTURE 11 LLC
DTIM Operations Managing
Member Corp
Ownershlo
1.00%
Tltle
Managing Member
Role
Shareholder
196 THC VENTURE Ill LLC - NIKIA TTTT Venture LLC •r11
Owned by:
%Ownership
1
Name
TITTVenture Member Corp
Role
Managing Member
76.272
22.728
DTIM OPERATIONS LLC
Trump Family Members
Member
Member
Has ownership Interest In :
various entities as indicated elsewhere In this schedule
197 THC VENTURE Ill MEMBER CORP - NIKIA TTTT Venture Member Corp *(1 I
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership Interest In :
Entity Name
nn VENTURE LLC
Ownership
Title
1.00% Managing Member
198 THE CAR/BUSINESS RE CORP •r11
Owned by:
Has ownership interest In :
%Ownership
100
Entity Name
CARIBUSINESS MRE LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownership
Title
1.00% Managing Member
Role
Shareholder
Caribusiness Investments, S.R.L. 1.00% Member
199 The East 61 Street Companv. LP
Owned by:
%Ownership
99.9
Name
The Donald J. Trump Revocable Trust
Role
Partner
200 THE TRUMP CORPORATION
0.1
Plaza Consulting Corp.
Partner
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
201 THE TRUMP ENTREPRENEUR INITIATIVE LLC
Owned by :
% Ownership
100
Name
THE TRUMP ENTREPRENEUR
INITIATIVE LLC (NY DOMESTIC)
Role
Managing Member

OGE Form 21 1 ~(7l.r .. rc:h 20 1~J
Instructions for Part 2
Note: This Is a public form. Do not include ;account numbers, street addresses, or family member names. See instructions for required Information.
Filer's Nnme
Pnge Number
Donald J . Trump A 18 of 47
Reference# '---------------------------------------------------'
Has ownership Interest In :
Entity Name
TRUMP EDUCATION ULC
Ownership
100.00%
Title
Shareholder
202 THE TRUMP ENTREPRENEUR INITIATIVE LLC (NY DOMESTIC) *(1)
Owned by:
Has ownership interest In :
203 THE TRUMP FOLLIES LLC *(3)
%Ownership
0.1
3.5
4.5
91.9
Entity Name
THE TRUMP ENTREPRENEUR
INITIATIVE LLC
Name
DJT ENTREPRENEUR MANAGING
MEMBER LLC (FORMALLY KNOWN AS
DJT UNIVERSITY MANAGING
MEMBER LLC)
Spitalny, Jonathan
Sexton, Michael
DJT ENTREPRENEUR MEMBER LLC
(FORMALLY KNOWN AS DJT
UNIVERSITY MEMBER LLC)
Ownership
100.00%
Title
Managing Member
Role
Managing Member
Member
Member
Member
Owned by:
% Ownership
1
Name
THE TRUMP FOLLIES MEMBER INC.
Role
Managing Member
99
204 THE TRUMP FOLLIES MEMBER INC. *(3)
OJT Holdings LLC
Member
Owned by:
%0wnershlo
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest In :
Entity Name
THETRUMP FOLLIES LLC
Ownership
Title
1.00% Managing Member
20s The Trump Hotel Corp. *(3)
Owned by :
%0wnershlc
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
206 THE TRUMP MARKS REAL ESTATE CORP *(1)
Owned by:
% Ownership
100
Has ownership Interest in : Entity Name Ownership
TRUMP MARKS REAL ESTATE LLC 1.00%
201 The Trump Organization. Inc. *(3)
DlTM Operations Managing
Member Corp
Title
Member
Role
Shareholder
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member UC
Role
Shareholder
208 The Trump-Equitable Fifth Avenue Companv
Owned by:
%Ownership
99
Name
The Donald J, Trump Revocable Trust
Role
Partner
TIPPERARY REALTY CORPORATION
Partner
Has ownership interest In : Entity Name Ownership
Fifty-Seventh Street Associates 99.00%
LLC
TRUMP TOWER COMMERCIAL LLC 99.00%
Title
Member
Member
209 TIGL COMMON AREA MANAGEMENT CORP *(3)
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
TRUMP INTERNATIONAL GOLF LINKS - DOONBEG
211
Owned by:
%Ownership
100
Name
TW VENTURE 11 LLC
Role
Sole Member
212 T/GL IRELAND MANAGEMENT LIMITED *(assets & income already disclosed on Part 2 under TRUMP INTERNATIONAL GOLF LINKS -
DOONBEG; operator of suites)
OGE Form 27.!c ~l=h 20 1~ )
Instructions for Part 2
Note : This Is ii publfc form. Do not include account numbers, street addresses, or family member names. See instructions for requ ired Information.
Filer's N;:ime
Page Nwnbcr
OonaldJ. TNmp
19 of47
Reference# ~--,.,.-------------,-------------------------------------'
Owned by: % Ownership Name Role
100 TRUMP INTERNATIONAL GOLF LINKS· Sole Member
DOON BEG
213 TIHC RESERVATIONS LLC •(3)
Owned by:
%Ownership Name Role
100 OJT Holdings LLC Member
214 TIHH MEMBER CORP •(11
Owned by :
Has ownership Interest In:
215 TIHH MEMBER LLC •(11
Owned by :
%Ownership Name Role
100 The Donald J. Trump Revocable Trust Shareholder
Entity Name Ownership Title
TRUMP INTERNATIONAL HOTEL 1.00% Managing Member
HAWAllLLC
%Ownership Name Role
100 The Donald J. Trump Revocable Trust Managing Member
Has ownership Interest in :
216 TIHM MEMBER CORP. •(11
Owned by :
Entity Name Ownership Title
TRUMP INTERNATIONAL HOTEL 99.00% Member
HAWAII LLC
%Ownership Name Role
100 DJT Holdings Managing Member LLC Shareholder
Has ownership Interest In :
EntitvName Ownership Title
TRUMP INTERNATIONAL HOTELS 0.10% Managing Member
MANAGEMENT LLC
217 TIHT CHICAGO MEMBER ACQUISITION LLC •m
Owned by:
Has ownership Interest In :
218 TIHT COMMERCIAL LLC
%Ownership
100
Entity Name
401 MEZZ VENTURE LLC
Name
OJT HOLDING5 LLC
Ownership
50.00%
Title
Member
Role
Member
Owned by:
%Ownership
0.01
99.99
Name
TIHT MEMBER LLC
The Donald J. Trump Revocable Trust
Role
Member
Managing Member
219 TIHT HOLDING COMPANY LLC
Owned by:
220 TIHT MEMBER LLC •m
%Ownership
100
Name
OJT Holdings LLC
Role
Member
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Member
Has ownership Interest In :
Entity Name
TIHT COMMERCIAL LLC
Ownership
Title
0.01% Member
221 TIPPERARY REAL TY CORP. •m
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership interest In :
222 TMG Member, LLC •m
Entity Name
Ownership
The Trump-Equitable Fifth Avenue 1.00%
Company
Tl tie
Partner
Owned by:
Has ownership interest in :
% Ownership Name
100 DJT Holdings LLC
Entity Name
Ownership
Trump Model Management LLC SS.00%
Title
Member
Role
Member
223 TRUMP NATIONAL GOLF CLUB - CHARLOTTE
Owned by:
OGl::FMlll1 1 cC'-bn:h 20 1~)
Reference#
Instructions for Part 2
Note: This is a public form. Do not Include account numbers, st reet addresses, or family member names. Set!! instructions for required information.
Filer's Nnme
Pngc Number
Donald J. Trump A20 of 47
TNGC CHARLOTTE MANAGER CORP
Managing Member
99
224 TNGC CHARLOTTE MANAGER CORP ""(1/
DJT HOLDINGS LLC
Member
Owned by:
%Ownership
100
Has ownership Interest in : Entltv Name Ownership
TRUMP NATIONAL GOLF CLUB- 1.00%
CHARLOTTE
225 TRUMP NATIONAL GOLF CLUB - HUDSON VALLEY
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Title
Managing Member
Role
Shareholder
Owned by:
%Ownership
l
99
226 TNGC DUTCHESS COUNTY MEMBER CORP •r11
Name
TNGC DUTCHESS COUNTY MEMBER
CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by:
% Ownership
100
Has ownership interest in : Entity Name Ownershlo
TRUMP NATIONAL GOLF CLUB- 1.00%
HUDSON VALLEY
227 TNGC JUPITER MANAGEMENT LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Title
Managing Member
Role
Shareholder
Owned by :
%Ownership
l
99
228 TNGC JUPITER MANAGING MEMBER CORP '(11
Name
TNGCJUPITER MANAGING MEMBER
CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by :
%0wnershlo
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest In : Entity Name Ownership
TNGCJUPITER MANAGEMENT LLC 1.00%
Tl tie
Managing Member
229 TRUMP NATIONAL GOLF CLUB - PHILADELPHIA
Owned by :
%Ownership
l
Name
TNGC PINE Hill MEMBER CORP
Role
Managing Member
99
230 TNGC PINE HILL MEMBER CORP ""l11
Owned by:
%Ownership
100
Has ownership Interest In :
Entity Name
TRUMP NATIONAL GOLF CLUB -
PHILADELPHIA
231 Toronto Development LLC '(31
Owned by :
% Ownership
100
232 TP-CFD MANAGER CORP •(JI-DISSOLVED 10118/16
DJT HOLDINGS LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownership
Title
1.00% Managing Member
Name
DJT Holdings LLC
Member
Role
Shareholder
Role
Member
Owned by:
Has ownership Interest In :
% Ownership
100
Entity Name
TP·CFD, LLC
Name
Trump, Donald J.
Ownership
1.00%
Title
Managing Member
Role
Shareholder
233 TP-CFD, LLC '(31--DISSOLVED 10/18/16
Owned by:
%Ownership
l
Name
TP·CFD MANAGER CORP
Role
Managing Member
234 TRUMP 106 CPS LLC
99
Trump, Donald J.
Member
Owned by :
235 Trump 845 LP LLC ""l1 I
% Ownership
100
Name
DJT Holdings LLC
Role
Member

OOEFonn211c (M1tch 20l-')
Reference II
Instructions for Part 2
Note : This Is a public form. Do not include account numbers, street addresses, or family member names. See Instructions for required information.
Filer's Nnrne
Page Number
Donald J. Trump A 2 l of 47
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Managing Member
Has ownership interest In:
Entity Name
845 UN Limited Partnership
Ownership
Title
60.00% Partner
236 TRUMP 845 UN GP LLC *(11
Owned by :
%Ownership
0.1
Name
TRUMP 845 UN MGR CORP
Role
Managing Member
99.9
The Donald J. Trump Revocable Trust
Member
Has ownership Interest In :
Entity Name
845 UN limited Partnership
Ownershfp
Title
40.00% Partner
237 TRUMP 845 UN MGR CORP
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership Interest in :
Entity Name
TRUMP 845 UN GP LLC
Ownership
Title
0.10% Managing Member
238 TRUMP 845 UN MGR LLC *(31
Owned by:
%Ownership
100
~
The Donald J. Trump Revocable Trust
Role
Managing Member
239 TRUMP AC CASINO MARKS LLC *(31
Owned by:
%Ownership
1
99
240 TRUMP AC CASINO MARKS MEMBER CORP *(31
Name
TRUMP AC CASINO MARKS MEMBER
CORP
DTTM OPERATIONS LLC
Role
Managing Member
Member
Owned by :
%Ownership
100
DTIM Operations Managing
Member Corp
Has ownership Interest In : Entity Name Ownership Title
TRUMP AC CASINO MARKS LLC 1.00% Managing Me mber
241 TRUMP ACQUISITION CORP. *(31
Role
Shareholder
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
TRUMP ACQUISITION, LLC
Name
DJT Holdings LLC
Ownership
1.00%
Title
Managing Member
Role
Shareholder
242 TRUMP ACQUISITION. LLC *{31
Owned by:
%Ownership
1
l'illru:
TRUMP ACQUISITION CORP.
Role
Managing Member
243 TRUMP BOOKS LLC
99
OJT Holdings LLC
Me mber
Owned by :
%Ownership
Name
TRUMP BOOKS MANAGER CORP
Role
Managing Member
99
244 TRUMP BOOKS MANAGER CORP *(1)
DJT Holdings LLC
Member
Owned by :
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In:
Entity Name
TRUMP BOOKS llC
Ownership
Title
1.00% Managing Member
245 TRUMP BRAZIL LLC '(3)
Owned by:
%Ownership

OGE Form 271c (Mmh 201~)
Instructions for Part 2
Note : Th is Is a public form. Do not include account numbers, street iiddresse.s, or famllY member n•mes. See Instructions for requ ired Information.
Filer's Name
Page Number
Donald J. Trump
A22 of47
Reference#
100
246 TRUMP CANADIAN SERVICES. INC. •(3)
DJT Holdings LLC
Member
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Roie
Shareholder
247 TRUMP CANOUAN ESTATE LLC '(5/
Owned by:
% Ownership
1
99
248 TRUMP CANOUAN ESTATE MEMBER CORP '(11
Name
TRUMP CANOUAN ESTATE MEMBER
CORP
DJT Holdings LLC
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest in :
Entity Name
TRUMP CANOUAN ESTATE LLC
Ownership
Title
1.00% Managing Member
249 TRUMP CARIBBEAN LLC •(JI
Owned by:
2so TRUMP CAROUSEL LLC
%Ownership
100
Name
DJT Holdings LLC
Role
Member
Owned by:
%Ownership
1
Name
TRUMP CAROUSEL MEMBER CORP
Role
Managing Member
99
2s1 TRUMP CAROUSEL MEMBER CORP '(11
DJT Holdings LLC
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest In :
Entity Name
TRUMP CAROUSEL LLC
Ownership
Title
1.00% Managing Member
2s2 TRUMP CENTRAL PARK WEST CORP •(3)
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In: Entity Name Ownership Title
One Central Park West Associates 50.00%
Partner
2S3 Trump Chicago Commercial Member Corp '(1 J
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership intetest In :
Entity Name
TRUMP CHICAGO COMMERCIAL
MANAGERLLC
2S4 TRUMP CHICAGO COMMERCIAL MANAGER LLC
Owned by:
%Ownership
1
99
2SS TRUMP CHICAGO DEVELOPMENT LLC Y3/
Owned by:
% Ownership
100
256 TRUMP CHICAGO HOTEL MANAGER LLC
Ownership
Title
1.00% Managing Member
Name
Trump Chicago Commerclal Member
Corp
DJT Holdings LLC
Name
DJT Holdings LLC
Role
Managing Member
Member
Role
Member
Owned by:
%Ownership
1
Name
Trump Chicago Hotel Member Corp
Role
Managing Member
99
2s1 Trump Chicago Hotel Member Corp '(1 I
DJT Holdings LLC
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :

00Ef<11""11127 S oo(M..,,.h20l~)
Instructions for Part 2
Note : This is a public fo rm. Do not Include account numbers, street addresses, or family member names. See instructions fo r required Information.
Filer's Nnmc
Pngc Number
Donald J . Trump A23 of 47
Reference#
TRUMP CHICAGO HOTEL
MANAGERLLC
258 TRUMP CHICAGO MANAGING MEMBER LLC *(11
1.00%
Managing Member
Owned by:
%Ownership
100
Has ownership interest In :
Entity Name
401 ME22 VENTURE LLC
259 TRUMP CHICAGO MEMBER LLC .,1)
Name
DJT HOLDINGS LLC
Ownership
1.00%
Title
Member
Role
Member
Owned by :
%Ownership
100
Has ownership Interest In:
Entity Name
401 ME22 VENTURE LLC
260 TRUMP CHICAGO RESIDENTIAL MANAGER LLC
Name
DJT HOLDINGS LLC
Ownership
49.00%
Title
Member
Role
Member
Owned by :
%Ownership
1
99
261 Trump Chicago Residential Member Corp *(1)
Name
Trump Chicago Residential Member
Corp
DJT Holdings LLC
Role
Managing Member
Member
Owned by: % Ownership Name Role
100 DJT Holdings Managing Member LLC Shareholder
Has ownership interest In : Entity Name Ownership Title
TRUMP CHICAGO RESIDENTIAL 1.00% Managing Member
MANAGERLLC
262 TRUMP CHICAGO RETAIL LLC *(assets & income alreadv disclosed on Part 2 under 401 North Wabash Venture LLC: operator of retail
space)
Owned by:
%Ownership
100
263 TRUMP CHICAGO RETAIL MANAGER LLC '(3)
Name
401 ME22 VENTURE LLC
Member
Owned by:
%Ownership
1
99
264 TRUMP CHICAGO RETAIL MEMBER CORP '(3)
Name
TRUMP CHICAGO RETAIL MEMBER
CORP
DJT Holdings LLC
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member llC
Role
Shareholder
Has ownership Interest In :
Entity Name
TRUMP CHICAGO RETAIL
MANAGERLLC
265 TRUMP CLASSIC CARS LLC '(41--DISSOLVED 10117116
Ownership
1.00%
Title
Managing Member
Owned by:
%Ownership
1
Name
TRUMP CLASSIC CARS MEMBER
CORP
99 Trump, Donald J.
266 TRUMP CLASSIC CARS MEMBER CORP '(4)--DISSOLVED 10117116
Role
Member
Member
Owned by: % Ownership Name Role
100 Trump, Donald J. Shareholder
Has ownership Interest In : Entitv Name Ownership Title
TRUMP CLASSIC CARS LLC 1.00% Member
267 TRUMP COMMERCIAL CHICAGO LLC '(assets & income alreadv disclosed on Part 2 under 401 North Wabash Venture LLC: operator of
commercial space)
Owned by: % Ownership Name Role
100 401 North Wabash Venture LLC Member
268 TRUMP CPS CORP '(11
Owned by:
%0wnershlo
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership interest In:
EntitvName
TRUMP CPS LLC
Ownership
Title
0.10% Managing Member
269 TRUMP CPS LLC
Owned by:
%Ownership
0.1
Name
TRUMP CPS CORP
Role
Managing Member

OG l:::fom1 21!fc(M~rc li 20 1.I)
Instructions for Part 2
Note: This Is a public form. Do not include account numbers, street addresses, or famllv member names. See instructions for requ ired information.
Filer's Name
Page Number
Donald J . TNmp A24 of 47
Reference# '---------------------------------------------------'
99.9
The Donald J. Trump Revocable Trust
Member
270 TRUMP DELMONICO LLC *(1 I
Owned by:
%0wnershlo
100
Name
The Donald J. Trump Revocable Trust
Role
Member
Has ownership interest In:
EntltvName
TRUMP PARK AVENUE LLC
Ownership
Title
50.00% Managing Member
271 TRUMP DEVELOPMENT SERVICES LLC •(31
Owned by:
%Ownership
1
99
272 TRUMP DEVELOPMENT SERVICES MEMBER CORP *(31
Name
TRUMP DEVELOPMENT SERVICES
MEMBER CORP
DJT Holdings LLC
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member llC
Role
Shareholder
Has ownership Interest In : Entity Name Ownership Title
TRUMP DEVELOPMENT SERVICES 1.00%
Managing Member
LLC
27S TRUMP DRINKS ISRAEL LLC *{31
Owned by:
%Ownership
1
99
276 TRUMP DRINKS ISRAEL MEMBER CORP *(31
Name
TRUMP DRINKS ISRAEL MEMBER
CORP
OJT Holdings LLC
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest in :
Entltv Name
TRUMP DRINKS ISRAEL LLC
Ownership
1.00%
Title
Managing Member
277 TRUMP EDUCATION ULC •(3!
Owned by:
278 TRUMP EMPIRE STATE INC •(3!
%Ownership
100
Name
THE TRUMP ENTREPRENEUR
INITIATIVE LLC (NY DOMESTIC)
Role
Shareholder
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
279 TRUMP NATIONAL DORAL
Owned by:
%Ownership
1
99
280 TRUMP ENDEAVOR 12 MANAGER CORP •(1!
Name
TRUMP ENDEAVOR 12 MANAGER
CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by:
Has ownership interest In:
%Ownership
100
Entitv Name
TRUMP NATIONAL DORAL
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownership
Title
1.00%
Managing Member
Role
Shareholder
281 TRUMP EU MARKS LLC •(3!
Owned by:
%Ownership
1
Name
TRUMP EU MARKS MEMBER CORP
Role
Managing Member
99
282 TRUMP EU MARKS MEMBER CORP •(3!
DTIM OPERATIONS LLC
Member
Owned by:
Has ownership Interest In:
%Ownership
100
Entity Name
Name
OTrM Operations Managing
Member Corp
Ownership
Title
Role
Shareholder

OOEForm27ll'c(M=h 20 1~ )
Instructions for Part 2
Note: Th is is a public form. Do not incl ude account numbers, street addresses, or familv member names. See Instructions for required information.
TRUMP EU MARKS LLC
1.00%
283 TRUMP FERRY POINT LLC
Assumed Names :
Owned bv :
Q/Jil8
Trump Golf Links Ferry Point
Trump Golf Links Ferry Point
Trump Golf Links
%Ownership
1
Jurisdiction
Delaware
New York
New York
Name
TRUMP FERRY POINT MEMBER CORP
Role
Managing Member
99
284 TRUMP FERRY POINT MEMBER CORP '(1 I
DJT Holdings LLC
Member
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership interest in :
EntltvName
TRUMP FERRY POINT LLC
Ownership
1.00%
Title
Managing Member
28S TRUMP FLORIDA MANAGEMENT LLC '(3)
Owned by:
%Ownership
1
Name
TRUMP FLORIDA MANAGER CORP
Role
Member
99
286 TRUMP FLORIDA MANAGER CORP '(3)
DJT HOLDINGS LLC
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest in : Entity Name Ownership
TRUMP FLORIDA MANAGEMENT 1.00%
LLC
287 TRUMP GOLF ACQUISITIONS LLC
Title
Member
Owned bv:
% Ownership
100
288 TRUMP GOLF COCO BEACH LLC *(41
Name
DJT Holdings LLC
Role
Member
Owned by:
%Ownership
1
99
289 TRUMP GOLF COCO BEACH MEMBER CORP '<41
Name
TRUMP GOLF COCO BEACH MEMBER
CORP
DJT Holdings LLC
Role
Managing Member
Member
Owned by : % Ownership Name Role
100 DJT Holdings Managing Member LLC Shareholder
Has ownership Interest In : Entltv Name Ownership Title
TRUMP GOLF COCO BEACH LLC 1.00% Managing Member
290 TRUMP GOLF MANAGEMENT LLC '(3)
Owned by :
291 TRUMP HOME MARKS LLC
%Ownership
100
Name
DJT Holdings LLC
Role
Member
Owned by :
%Ownership
1
99
292 TRUMP HOME MARKS MEMBER CORP '(11
Name
TRUMP HOME MARKS MEMBER
CORP
DTIM OPERATIONS LLC
Role
Managing Member
Member
Owned by :
Has ownership interest in :
%Ownership
100
Entitv Name
TRUMP HOME MARKS LLC
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member.
Role
Shareholder
293 TRUMP ICE INC '(3)
Owned by:
%Ownership
100
Name
DJT Holdings LLC
Role
Shareholder

00 Et.oon271c(M an: h 10 1~)
Instructions for Part 2
Note: This is a publlc form. Do not Include account number.s, street add resses, or family member names. See Instructions for required information.
Filer's Name
Page Number
Donald J. Trump
A26 of47
Reference#
294 TRUMP ICE LLC
Owned by :
% Ownership
100
29S TRUMP INTERN A T/ONAL DEVELOPMENT LLC ""(31
Name
DJT Holdings LLC
Role
Member
Owned by:
%Ownership
Name
TRUMP INTERNATIONAL
DEVELOPMENT MEMBER CORP
99 DJT Holdings LLC
296 TRUMP INTERNATIONAL DEVELOPMENT MEMBER CORP *(31
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
TRUMP INTERNATIONAL
DEVELOPMENT LLC
297 TRUMP INTERNATIONAL GOLF LINKS - SCOTLAND
Owned by:
%Ownership
99
298 Trump International Golf Club, Inc. *(11
Ownership
Title
1.00% Managing Member
Name
DJT HOLDINGS MANAGING MEMBER
LLC
TRUMP SCOTLAND MEMBER INC
Role
Member
Member
Owned by :
Has ownership Interest In :
%Ownership
100
Entity Name
TRUMP INTERNATIONAL GOLF
CLUB · FLORIDA
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownershto
Title
0.001% Member
Role
Shareholder
299 TRUMP INTERNATIONAL GOLF CLUB - FLORIDA
Owned by :
%Ownership
0,001
Name
Trump International Golf Club, Inc.
Role
Member
99.999
The Donald J. Trump Revocable Trust
Member
300 TRUMP INTERNATIONAL HOTEL HAWAII LLC
Owned by :
%Ownership
1
Name
TIHH MEMBER CORP
Role
Managing Member
99
301 TRUMP INTERNA T/ONAL HOTELS MANAGEMENT LLC
TIHH MEMBER LLC
Member
Assumed Names:
Owned by :
'JmE,
TRUMP HOTEL COLLECTION
TRUMP HOTEL COLLECTION
% Ownership
0.1
Jurisdiction
Hawaii
New York
Name
TIHM MEMBER CORP.
Role
Managing M ember
99.9
DJT Holdings LLC
Has ownership interest in : Entity Name Ownershlo Title
THC CHINA DEVELOPMENT LLC 100.00%
Member
THC IMEA DEVELOPMENT LLC 100.00%
Member
Member
302 TRUMP JETS LLC *(31--DISSOLVED 1119/16
Owned by :
303 Trump Korea LLC *(31
% Ownership
1
99
Name
SENTIENT JETS MEMBER CORP
xxxxxxxx
Trump, Donald J.
Role
Managing Member
Member
Owned by :
%Ownership
41
S9
304 TRUMP KOREAN PROJECTS LLC *(31
Name
DAEWOO AMERICA DEVELOPMENT
(NEW YORK) CORP
TRUMP KOREAN PROJECTS LLC
Role
Member
Member
Owned by:
Has ownership interest in :
%Ownership
100
EntitvName
Name
DJT Holdings LLC
Ownership
Role
Member
OGEFomi27h().l.in:h :ZO l i)
Instructions for Part 2
Note: This Is a publie form . Do not include aceount numbers, street addresses, or family member names. See inst ructions for required information.
Filer's Nnmc
Pngc Number
Donald J . Trump A27 of 47
Reference# '--------- --------------- ----------------------------'
Trump Korea llC
59.00%
Member
305 TRUMP LAS OLAS LLC *(31
Owned by:
%0wnershlo
1
Name
TRUMP LAS CLAS MEMBER CORP
Role
Managing Member
99
306 TRUMP LAS OLAS MEMBER CORP *(31
DJT Holdings LLC
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest rn :
Entity Name
TRUMP LAS CLAS LLC
Ownership
1.00%
Title
Managing Member
307 TRUMP LAS VEGAS CORP *(11
Owned by:
Has ownership interest In:
%Ownership
100
Entity Name
TRUMP LAS VEGAS MANAGING
MEMBERLLC
TRUMP LAS VEGAS MEMBER LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownership
Title
6.00%
Managing Member
6.00%
Managing Member
Role
Shareholder
308 TRUMP LAS VEGAS DEVELOPMENT LLC
Owned by:
% Ownership
100
309 TRUMP LAS VEGAS MANAGING MEMBER LLC
Name
DJT HOLDINGS LLC
Role
Member
Owned by:
Has ownership interest In :
%Ownership
6
94
Entitv Name
TRUMP RUFFIN LLC
Name
TRUMP LAS VEGAS CORP
DJT HOLDINGS LLC
Ownership
1.00%
Title
Managing Member
Role
Member
Member
310 TRUMP LAS VEGAS MEMBER LLC
Owned by:
%Ownership
6
94
Name
TRUMP LAS VEGAS CORP
DJT HOLDINGS LLC
Member
Managing Member
Has ownership interest In:
Entity Name
TRUMP RUFFIN LLC
311 Trump Las Vegas Sales & Marketing. Inc.
Ownership
49.00%
Title
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
312 TRUMP LAUDERDALE DEVELOPMENT LLC *(31
Owned by:
% Ownership
100
313 TRUMP LAUDERDALE DEVELOPMENT NO 2 LLC *(41
Name
DJT Holdings llC
Role
Member
Owned by:
314 TRUMP MARKETING LLC *(41
%Ownership
100
Name
DJT Holdings llC
Role
Member
Owned by :
%Ownership
100
315 TRUMP MARKS ASIA CORP *111
Name
DJT Holdings llC
Role
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
TRUMP MARKS ASIA LLC
Ownership
1.00%
Title
Managing Member
316 TRUMP MARKS ASIA LLC
Owned by:
%Ownership
1
Name
TRUMP MARKS ASIA CORP
Role
Managing Member

OOE Fonn 271= P.-~h 201~ )
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See Instructions for required information.
Filer's Name
Pngc Number
Donald J. Trump A28 of 4 7
Reference H
99
317 TRUMP MARKS ATLANTA LLC •(3)
DJT HOLDINGS llC
Member
Owned by:
%0wnershio
1
99
318 TRUMP MARKS ATLANTA MEMBER CORP •(3)
Name
TRUMP MARKS ATLANTA MEMBER
CORP
DTTM OPERATIONS llC
Role
Managing Member
Member
Owned by :
Has ownership Interest In :
%0wnershio
100
Entity Name
TRUMP MARKS ATLANTA llC
Name
OTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
321 TRUMP MARKS BA TUM/ LLC *(3/
Owned by :
% Ownership
1
Name
TRUMP MARKS BATUMI MANAGING
MEMBER CORP
99 DTTM OPERATIONS llC
322 TRUMP MARKS BATUMI MANAGING MEMBER CORP •(3)
Role
Managing Member
Member
Owned by :
Has ownership Interest In :
%Ownership
100
Entity Name
TRUMP MARKS BATUMI llC
OTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
32S TRUMP MARKS CANOUAN CORP •(3)
Owned by:
Has ownership interest in :
%Ownershlo
100
Entity Name
TRUMP MARKS CANOUAN l lC
Name
OTIM Operations Managing
Member Corp
Ownership
1.00%
Tl tie
Managing Member
Role
Shareholder
326 TRUMP MARKS CANOUAN LLC •(3)
Owned by:
%Ownership
1
Name
TRUMP MARKS CANOUAN CORP
Role
Managing Member
99
327 TRUMP MARKS CHICAGO LLC *{31
Owned by:
% Ownership
1
99
328 TRUMP MARKS CHICAGO MEMBER CORP *(31
DTTM OPERATIONS llC
Name
TRUMP MARKS CHICAGO MEMBER
CORP
DTTM OPERATIONS llC
Member
Role
Managing Member
Member
Owned by :
Has ownership interest In :
% Ownership
100
Entity Name
TRUMP MARKS CHICAGO llC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Rol e
Sha reholder
329 TRUMP MARKS DUBAI CORP *(31
Owned by :
Has ownership Interest In :
% Ownership
100
Entity Name
TRUMP MARKS DUBAI llC
OTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
330 TRUMP MARKS DUBAI LLC *(31
Owned by :
%Ownership
1
Name
TRUMP MARKS DUBAI CORP
Role
Managing Member
99
DTTM OPERATIONS llC
Member
331 TRUMP MARKS EGYPT CORP *(31
Reference#
00t:Fonn2111c (1'bnh 201.J)
Instructions for Part 2
Not@: This is a public form . Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Nnme
Page Number
Donald J. Trump A29 of 47
Owned by:
Has ownership interest In :
%Ownership
100
Entity Name
TRUMP MARKS EGYPT LLC
Name
OTTM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
332 TRUMP MARKS EGYPT LLC *{3)
Owned by:
%Ownership
1
Name
TRUMP MARKS EGYPT CORP
Role
Managing Member
99
333 TRUMP MARKS FINE FOODS LLC
DTTM OPERATIONS LLC
Member
Owned by :
%Ownership
1
99
334 TRUMP MARKS FINE FOODS MEMBER CORP •r1 J
Name
TRUMP MARKS FINE FOODS
MEMBER CORP
DTTM OPERATIONS LLC
Role
Managing Me mber
Member
Owned by:
%0wnershlo
100
Has ownership interest In: Entltv Name Ownership
TRUMP MARKS FINE FOODS LLC 1.00%
DTTM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
33S TRUMP MARKS FT LAUDERDALE LLC ""(31
Owned by:
%Ownership
1
99
336 TRUMP MARKS FT LAUDERDALE MEMBER CORP *(31
Name
TRUMP MARKS FT LAUDERDALE
MEMBER CORP
DTTM OPERATIONS LLC
Role
Managing Member
Member
Owned by :
%Ownership
100
Has ownership Interest in : Entity Name Ownership
TRUMP MARKS FT LAUDERDALE 1.00%
LLC
337 TRUMP MARKS GP CORP •r11
Name
OTTM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
Owned by:
Has ownership Interest In:
%Ownership
100
Name
OTTM Operations Managing
Member Corp
Ownership
Role
Shareholder
TRUMP MARKS HOLDINGS LP
338 TRUMP MARKS HOLDINGS LP *(11
1.00%
Partner
Owned by:
Has ownership Interest In :
% Ownership
1
99
Entity Name
TRUMP MARKS LLC
Name
TRUMP MARKS GP CORP
OTIM Operations LLC
Ownership
100.00%
Title
Member
Role
Partner
Partner
339 TRUMP MARKS HOLLYWOOD CORP •(3)
Owned by:
%Ownership
100
Has ownership Interest In : Entity Name Ownership
TRUMP MARKS HOLLYWOOD LLC 1.00%
Name
OTTM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
340 TRUMP MARKS HOLLYWOOD LLC •ra1
Owned by:
%Ownership
1
Name
TRUMP MARKS HOLLYWOOD CORP
Role
Managing Member
99
341 TRUMP MARKS ISTANBUL II CORP '(1)
DTTM OPERATIONS LLC
Member
Owned by:
OCIE Forni 211c O'-brd1 2014)
Instructions for Part 2
Note : This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required Information.
rle~s Nome
r•gc Number
Reference U
100 OTTM Operations Managing
Member Corp
Has ownership Interest In : Entity Name Ownership
TRUMP MARKS INSTANBUL 11 LLC 1.00%
Title
Managing Member
Shareholder
342 TRUMP MARKS JSTANBUL II LLC
Owned by :
%Ownership
1
Name
TRUMP MARKS ISTANBUL II CORP
Role
Managing Member
99
DTIM OPERATIONS LLC
Member
343 TRUMP MARKS JERSEY CITY CORP WJ
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
TRUMP MARKS JERSEY CITY LLC 1.00%
Name
DTTM Operations Managing
Member Corp
Ownership
Title
Managing Member
Role
Shareholder
344 TRUMP MARKS JERSEY CITY LLC *(4)
Owned by:
%Ownership
1
Name
TRUMP MARKS JERSEY CITY CORP
Role
Managing Member
99
345 TRUMP MARKS LAS VEGAS CORP *{3)
DTIM OPERATIONS LLC
Member
Owned by:
Has ownership interest In:
%Ownership
100 OTTM Operations Managing
Member Corp
Entity Name
Ownership
TRUMP MARKS LAS VEGAS LLC 1.00%
Title
Managing Member
Role
Shareholder
346 TRUMP MARKS LAS VEGAS LLC *(3)
Owned by :
%Ownership
1
Name
TRUMP MARKS LAS VEGAS CORP
Role
Managing Member
347 TRUMP MARKS LLC
99
DTIM OPERATIONS LLC
Member
Owned by:
%Ownership
100 TRUMP MARKS HOLDINGS LP
346 TRUMP MARKS MAGAZINE CORP *(3)-DISSOL VED 1119116
Owned by: % Ownership Name
100 Trump, Donald J.
Has ownership interest in : Entity Name Ownership
TRUMP MARKS MAGAZINE LLC 1.00%
Title
Managing Member
Member
Role
Shareholder
349 TRUMP MARKS MAGAZINE LLC *(3)--DISSOLVED 1119116
Owned by:
% Ownership
1
Name
TRU MP MARKS MAGAZINE CORP
Role
Managing Member
99
350 TRUMP MARKS MATTRESS LLC
Owned by:
%Ownership
1
99
3Sl TRUMP MARKS MATTRESS MEMBER CORP *(1)
Trump, Donald J.
Name
TRUMP MARKS MATIRESS MEMBER
CORP
DTIM OPERATIONS LLC
Member
Role
Managing Member
Member
Owned by :
% Ownership
100
Has ownership Interest In : Entity Name Ownership
TRUMP MARKS MATIRESS LLC 1.00%
DTTM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
CXl!Zf<>1t11271eO-l~h201-')
Reference#
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See Instructions fo r required Information.
Filer's Name
Page Nwnbcr
Donald J . Trump A3 l of 4 7
352 TRUMP MARKS MENSWEAR LLC
Owned by :
%Ownership
1
99
353 TRUMP MARKS MENSWEAR MEMBER CORP *(1)
Name
TRUMP MARKS MENSWEAR
MEMBER CORP
DTIM OPERATIONS LLC
Role
Managing Member
Member
Owned by : % Ownership Name
100 DTIM Operations Managing
Member Corp
Has ownership Interest In: Entity Name Ownership
TRUMP MARKS MENSWEAR LLC 1.00%
Title
Managing Member
Role
Shareholder
354 TRUMP MARKS MORTGAGE CORP *(31
Owned by :
Has ownership Interest In:
%Ownership
100
Entltv Name
TRUMP MARKS MTG LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
355 TRUMP MARKS MTG LLC *(3)
Owned by :
%Ownership
1
Name
TRUMP MARKS MORTGAGE CORP
Role
Managing Member
99
356 TRUMP MARKS MUMBAI LLC *(3)
Owned by:
%Ownership
1
99
357 TRUMP MARKS MUMBAI MEMBER CORP *(3)
DTIM OPERATIONS LLC
Name
TRUMP MARKS MUMBAI MEMBER
CORP
DTIM OPERATIONS LLC
Member
Role
Managing Member
Member
Owned by:
Has ownership interest In :
%Ownership
100
EntltvName
TRUMP MARKS MUMBAI LLC
Name
DTIM Operations Managing
Member Corp
Ownershlo
1.00%
Title
Managing Member
Role
Shareholder
358 TRUMP MARKS NEW ROCHELLE CORP *(1 J
Owned by:
Has ownership Interest In :
%Ownership
100
359 TRUMP MARKS NEW ROCHELLE LLC
Entity Name
TRUMP MARKS NEW ROCHELLE
LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
Owned by:
%Ownership
1
Name
TRUMP MARKS NEW ROCHELLE CORP
Role
Managing Member
99
DTIM OPERATIONS LLC
Member
360 TRUMP MARKS PALM BEACH CORP *(3)
Owned by:
%Ownership
100
Has ownership Interest In : Entity Name Ownership
TRUMP MARKS PALM BEACH LLC 1.00%
DTIM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
361 TRUMP MARKS PALM BEACH LLC *(3)
Owned by:
%Ownership
1
Name
TRUMP MARKS PALM BEACH CORP
Role
Managing Member
99
362 TRUMP MARKS PANAMA CORP *(1)
DTIM OPERATIONS LLC
Member
Owned by:
OOE F""rm 27h (Much 21ll~J
Reference U
Instructions for Part 2
Note: This ls a public form. Do not Include account numbers, street addresses, or family member names. See instructions for required Information.
Filer's Name
Page Number
Donald J. Trump A32 of 47
Has ownership interest In :
363 TRUMP MARKS PANAMA LLC
100
Entity Name
TRUMP MARKS PANAMA llC
DTTM Operations Managing
Member Corp
Ownershio
1.00%
Title
Managing Member
Shareholder
Owned by :
%Ownership
1
Name
TRUMP MARKS PANAMA CORP
Role
Managing Member
99
364 TRUMP MARKS PHILADELPHIA CORP *(3)
DTTM OPERATIONS llC
Member
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership interest in :
Entitv Name
Ownership
TRUMP MARKS PHILADELPHIA LLC 1.00%
Title
Managing Member
365 TRUMP MARKS PHILADELPHIA LLC *(3)
Owned by:
%Ownership
1
Name
TRUMP MARKS PHILADELPHIA CORP
Role
Managing Member
99
The Donald J. Trump Revocable Trust
Member
366 TRUMP MARKS PHILIPPINES CORP *(1)
Owned by:
Has ownership Interest in:
%Ownership
100
Entity Name
Ownership
TRUMP MARKS PHILIPPINES llC 1.00%
Name
DTTM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
367 TRUMP MARKS PHILIPPINES LLC
Owned by :
%Ownership
1
Name
TRUMP MARKS PHILIPPINES CORP
Role
Managing Member
99
368 TRUMP MARKS PRODUCTS LLC '(4)
Owned by:
%Ownership
1
99
369 TRUMP MARKS PRODUCTS MEMBER CORP *(4)
DTTM OPERATIONS llC
Name
TRUMP MARKS PRODUCTS MEMBER
CORP
DTTM OPERATIONS llC
Member
Role
Managing Member
Member
Owned by:
Has ownership interest In :
%Ownership
100
Entitv Name
Ownership
TRUMP MARKS PRODUCTS llC 1.00%
Name
OTTM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
370 TRUMP MARKS PUERTO RICO I LLC *(3)
Owned by :
%Ownership
1
99
371 TRUMP MARKS PUERTO RICO I MEMBER CORP *(3)
Name
TRUMP MARKS PUERTO RICO I
MEMBER CORP
DTTM OPERATIONS LLC
Role
Managing Member
Member
Owned by:
%Ownership
100 DTTM Operations Managing
Member Corp
Has ownership Interest In :
Entity Name
Ownership
TRUMP MARKS PUERTO RICO I 1.00%
llC
372 TRUMP MARKS PUERTO RICO II LLC *(31--DISSOLVED 1119/16
Owned by:
%Ownership
1
Name
TRUMP MARKS PUERTO RICO 11
MEMBER CORP
99 Trump, Donald J.
373 TRUMP MARKS PUERTO RICO II MEMBER CORP *(3)--DISOLVED 11110/16
Title
Managing Member
Role
Shareholder
Role
Managing Member
Member
OGF.Forml11~(~{4rch2014)
Reference ti
Instructions for Part 2
Note: This is a public form . Do not include account numbers, street addresses, or famUy member names. See instruct ions for req uired Information .
Filer'sNnme
Page Number
Donald J. Trump
A33 of47
Owned by: % Ownership Name
100 Trump, Donald J.
Has ownership interest in : Entity Name Ownership
TRUMP MARKS PUERTO RICO II 1.00%
LLC
374 TRUMP MARKS PUNTA DEL ESTE LLC *(4/
Owned by:
%Ownership
1
Name
TRUMP MARKS PUNTA DEL ESTE
MANAGER CORP
99 DTIM OPERATIONS LLC
375 TRUMP MARKS PUNTA DEL ESTE MANAGER CORP *(41
Owned by:
%Ownership
100
Name
DTIM Operations Managing
Member Corp
Has ownership Interest In : Entity Name Ownership
TRUMP MARKS PUNTA DEL ESTE 1.00%
LLC
376 TRUMP MARKS REAL ESTATE LLC *(5/
Title
Managing Member
Title
Managing Member
Role
Shareholder
Role
Managing Member
Member
Role
Shareholder
Owned by:
%Ownership
1
99
377 TRUMP MARKS SOHO LICENSE CORP *(4/
Name
THE TRUMP MARKS REAL ESTATE
CORP
DTIM OPERATIONS LLC
Role
Member
Member
Owned by:
%Ownership
100
Has ownership interest In:
Entity Name
TRUMP MARKS SOHO LLC
378 TRUMP MARKS SOHO LLC *(4/
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Tltle
Member
Role
Shareholder
Owned by:
%Ownership
1
Name
TRUMP MARKS SOHO LICENSE CORP
Role
Member
99
379 TRUMP MARKS STAMFORD CORP *(1/
DTIM OPERATIONS LLC
Member
Owned by :
%Ownership
100
Has ownership interest in: Entity Name Ownershlo
TRUMP MARKS STAMFORD LLC 1.00%
380 TRUMP MARKS STAMFORD LLC
Name
DTIM Operations Managing
Member Corp
Title
Member
Role
Shareholder
Owned by:
%Ownership
99
1
381 TRUMP MARKS SUNNY ISLES I LLC
Name
DTIM OPERATIONS LLC
TRUMP MARKS STAMFORD CORP
Role
Member
Member
Owned by:
%Ownership
1
99
382 TRUMP MARKS SUNNY ISLES I MEMBER CORP *(1/
Name
TRUMP MARKS SUNNY ISLES I
MEMBER CORP
DTIM OPERATIONS LLC
Role
Member
Member
Owned by:
%Ownership
100
DTIM Operations Managing
Member Corp
Has ownership Interest in : Entity Name Ownership
TRUMP MARKS SUNNY ISLES I LLC 1.00%
Title
Member
Role
Shareholder
383 TRUMP MARKS SUNNY ISLES II LLC '(4)
Owned by :
%Ownership
1
99
384 TRUMP MARKS SUNNY ISLES II MEMBER CORP *(4/
Name
TRUMP MARKS SUNNY ISLES II
MEMBER CORP
DTIM OPERATIONS LLC
Role
Member
Member
Owned by :
%0wnershlo
100
DTIM Operations Managing
Member Corp
Role
Shareholder

Reference#
OOE Form 2 18~ {:\l>t<:I\ 20U)
Instructions for Part 2
Note: This is a public form. Do not inc lude account numbers, street addresses, or family member names. See Instructions for required lnformiilltion.
Filer's Name
Pogc Number
Donald J . Trump A34 of 47
Has ownership interest In : Entity Name Ownership
TRUMP MARKS SUNNY ISLES 11 LLC 1.00%
38S TRUMP MARKS TAMPA CORP *(31
Title
Member
Owned by:
%Ownership
100
Has ownership interest in :
Entity Name
TRUMP MARKS TAMPA LLC
386 TRUMP MARKS TAMPA LLC *(31
Name
DTTM Operations Managing
Member Corp
Ownership
1.00%
Title
Member
Role
Shareholder
Owned by :
% Ownership
1
99
387 TRUMP MARKS TORONTO CORP *(3/
Na me
TRUMP MARKS TAMPA CORP
DTTM OPERATIONS LLC
Role
Member
Member
Owned by:
%Ownership
100
Has ownership interest in :
Entity Name
TRUMP MARKS TORONTO LLC
388 TRUMP MARKS TORONTO LLC •r3/
Name
DTTM Operations Managing
Member Corp
Ownership
1.00%
Title
Member
Role
Shareholder
Owned by :
%Ownership
1
99
389 TRUMP MARKS TORONTO LP *(31
Name
TRUMP MARKS TORONTO CORP
DTTM OPERATIONS LLC
Role
Member
Member
Owned by:
%Ownership
1
Name
TRUMP TORONTO MEMBER CORP
Role
Member
99
390 TRUMP MARKS WAIKIKI CORP *(11
DTTM Operations LLC
Member
Owned by :
%Ownership
100
Name
The Dona ld J. Trump Revocable Trust
Role
Shareholder
Has ownership Interest in : Entity Name Ownership Title
TRUMP MARKS WAIKIKI LLC 1.00% Managing Member
391 TRUMP MARKS WAIKIKI LLC
Owned by :
%Ownership
1
Name
TRUMP MARKS WAIKIKI CORP
Role
Managing Member
99
The Donald J. Trump Revocable Trust
Member
392 TRUMP MARKS WESTCHESTER CORP *(41
Owned by :
%Ownership
100
Has ownership Interest in : Entity Name Ownership
TRUMP MARKS WESTCHESTER LLC 1.00%
DTTM Operations Managing
Member Corp
Title
Managing Member
Role
Shareholder
393 TRUMP MARKS WESTCHESTER LLC *(4/
Owned by:
%Ownership
1
Name
TRUMP MARKS WESTCHESTER CORP
Role
Managing Member
99
394 TRUMP MARKS WHITE PLAINS CORP •r41
DTTM OPERATI ONS LLC
Member
Owned by:
%Ownership
100
Has ownership interest In : Entity Name Ownership
TRUMP MARKS WH ITE PLAINS LLC 1.00%
DTTM Operations Managing
Member Corp
Tltle
Managing Member
Role
Shareholder
39S TRUMP MARKS WHITE PLAINS LLC *(4/
Owned by :
%Ownership
1
Name
TRUMP MARKS WHITE PLAINS CORP
Role
Managing Member
99
DTTM OPERATIONS LLC
Member

OGEForm21tcP.,L>n:h201~)
Instructions for Part 2
Note: This Is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required Information.
Filer's Nnme
Pogc Number
Donald J. Trump A35 of 47
Reference# '------------------------------------------------------1
396 TRUMP MIAMI RESORT MANAGEMENT LLC
Owned by:
%Ownership
1
Name
TRUMP MIAMI RESORT
MANAGEMENT MEMBER CORP
99 DJT Holdings LLC
397 TRUMP MIAMI RESORT MANAGEMENT MEMBER CORP •r11
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest in:
Entity Name
TRUMP MIAMI RESORT
MANAGEMENTLLC
39B TRUMP MODEL MANAGEMENT LLC
Assumed Names:
~
TRUMP MODELS
Owned by:
%0wnershio
1S
BS
399 TRUMP NA TJONAL GOLF CLUB - COL TS NECK
Ownership
Title
1.00% Managing Member
Jurisdiction
New York
Name
Annie Veltri
TMG Member, LLC
Role
Member
Member
Owned by:
%Ownership
1
Name
TRUMP NATIONAL GOLF CLUB COLTS
NECK MEMBER CORP
99 DJT HOLDINGS LLC
400 TRUMP NATIONAL GOLF CLUB COLTS NECK MEMBER CORP •r11
Role
Managing Member
Member
Owned by: % Ownership Name Role
100 DJT HOLDINGS MANAGING MEMBER Shareholder
LLC
Has ownership Interest in: Entitv Name Ownership Title
TRUMP NATIONAL GOLF CLUB- 1.00% Managing Member
COLTS NECK
401 TRUMP NA TJONAL GOLF CLUB - WESTCHESTER
Owned by:
%Ownership
1
99
402 TRUMP NA TJONAL GOLF CLUB MEMBER CORP •r11
Name
TRUMP NATIONAL GOLF CLUB
MEMBER CORP
DJT HOLDINGS LLC
Role
Managing Member
Managing Member
Owned by:
%0wnershlo
100
Has ownership Interest in : Entity Name Ownership
TRUMP NATIONAL GOLF CLUB - 1.00%
WESTCHESTER
403 TRUMP NATIONAL GOLF CLUB - WASHINGTON DC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Tiiie
Managing Member
Role
Shareholder
Owned by:
%Ownership
1
Name
TRUMP NATIONAL GOLF CLUB
WASHINGTON DC MEMBER CORP
99 DJT HOLDINGS LLC
404 TRUMP NATIONAL GOLF CLUB WASHINGTON DC MEMBER CORP •r11
Role
Managing Member
Member
Owned by: % Ownership Name Role
100 DJT HOLDINGS MANAGING MEMBER Shareholder
LLC
Has ownership interest In : Entity Name Ownership Title
TRUMP NATIONAL GOLF CLUB- 1.00% Managing Member
WASHINGTON DC
40S Trump New World Propertv Management. LLC *(3/
Owned by: % Ownership Name
50 New World Property Management
limited
50 TRUMP RIVERSIDE MANAGEMENT
LLC
406 TRUMP OCEAN MANAGER, INC. *(3/--DISSOLVED 11110116
Role
Managing Member
Managing Member
Owned by:
OOEFonn 278c(Man: h2GI~)
Instructions for Part 2
Note: This is a public fo rm. Do not Include account numbers, street addresses, or famlly member names. See Inst ructions for required information.
Filer's Name
Page Number
Donald J . Trump A36 of 4 7
Reference# '-----------------------------,-----------------,-~------~
100
Trump, Donald J.
Shareholder
Has ownership interest In :
Entity Name
TRUMP OCEAN MANAGING
MEMBER LLC
Ownership
1.00%
Title
Managing Member
408 TRUMP OLD POST OFFICE LLC
Owned by :
%Ownership
1
76.725
22.275
4o9 TRUMP OLD POST OFFICE MEMBER CORP *(11
Name
TRUMP OLD POST OFFICE MEMBER
CORP
DJT HOLDINGS LLC
Trump Family Members
Role
Managing Member
Member
Member
Owned by :
Has ownership Interest In :
%Ownership
77.S
22.S
Entity Name
TRUMP OLD POST OFFICE LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Trump Family Members
Ownership
Title
1.00%
Managing Member
Role
Shareholder
411 TRUMP ORGANIZATION LLC *(31
Assumed Names: ~
The Trump Organization
Owned by:
%Ownership
100
412 TRUMP PAGEANTS, INC. •(1!
Jurisdiction
New York
Name
DJT Holdings LLC
Role
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
413 Miss Universe L.P., LLLP
EntltvName
Miss Universe LP., LLLP
Ownership
2.00%
Title
Partner
Owned by:
414 TRUMP PALACE/PARC LLC
%Ownership
2
98
Name
TRUMP PAGEANTS, INC.
DJT Holdings LLC
Role
Partner
Partner
Owned by :
%Ownership
0.1
Name
FIRST MEMBER INC
Role
Managing Member
99.9
The Donald J. Trump Revocable Trust
Member
41S TRUMP PANAMA CONDOMINIUM MANAGEMENT LLC •(3!
Owned by:
%Ownership
1
99
416 TRUMP PANAMA CONDOMINIUM MEMBER CORP *(31
Name
TRUMP PANAMA CONDOMINIUM
MEMBER CORP
DJT Holdings LLC
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest in : Entitv Name Ownership
TRUMP PANAMA CONDOMINIUM 1.00%
MANAGEMENT LLC
Title
Managing Member
417 TRUMP PANAMA HOTEL MANAGEMENT LLC
Owned by:
%Ownership
1
Name
TRUMP PANAMA HOTEL
MANAGEMENT MEMBER CORP
99 DJT Holdings LLC
418 TRUMP PANAMA HOTEL MANAGEMENT MEMBER CORP *(11
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
TRUMP PANAMA HOTEL
MANAGEMENT LLC
419 TRUMP PARK AVENUE ACQUISITION LLC •(1!
Ownership
1.00%
Title
Managing Member
OOF.Fo f11127llc ( ~l""fd1 20 14)
Instructions for Part 2
Note : This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required inform<1tion.
Filer's Name
Pngc Number
Donald J . Trump
A37 of47
Reference# L---------------------------------------------------'
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Member
Has ownership Interest In :
420 TRUMP PARK AVENUE LLC
Entity Name
TRUMP PARK AVENUE LLC
Ownership
Title
49.90% Member
Owned by:
%Ownership
0.1
49.9
50
Name
GEPT Delmonico LLC
TRUMP PARK AVENUE ACQUISITION
LLC
TRUMP DELMONICO LLC
Role
Member
Member
Managing Member
421 TRUMP PAYROLL CHICAGO LLC *(2)
Owned by:
%Ownership
100
Name
401 North Wabash Venture LLC
Role
Managing Member
422 TRUMP PAYROLL CORP *(21
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member llC
Role
Shareholder
423 TRUMP PHOENIX DEVELOPMENT LLC •(3)
Owned by:
424 TRUMP PLAZA LLC
%Ownership
100
Name
DJT Holdings LLC
Role
Shareholder
Owned by :
%Ownership
1
Name
TRUMP PLAZA MEMBER INC.
Role
Managing Member
99
The Donald J. Trump Revocable Trust
Member
425 TRUMP PLAZA MEMBER INC. •(1)
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership interest In :
Entity Name
TRUMP PLAZA LLC
Ownership
1.00%
Title
Managing Member
426 TRUMP PRODUCTIONS LLC
Owned by:
%Ownership
1
99
427 TRUMP PRODUCTIONS MANAGING MEMBER INC. •r11
Name
TRUMP PRODUCTIONS MANAGING
MEMBER INC.
DJT Holdings LLC
Role
Managing Member
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest in:
Entity Name
TRUMP PRODUCTIONS LLC
Ownership
Title
1.00% Managing Member
428 TRUMP PROJECT MANAGEMENT CORP >(3)--DISSOLVED 11110116
Owned by:
% Ownership
100
429 TRUMP REAL TY SERVICES LLC >(5)
Name
Trump, Donald J.
Role
Shareholder
Owned by:
430 Trump Restaurants LLC
%Ownership
100
Name
OJT Holdings LLC
Role
Member
Owned by:
%Ownership
100
431 TRUMP RIVERSIDE MANAGEMENT LLC •(3)
Name
DJT Holdings LLC
Role
Member
Owned by:
Has ownership interest in:
%Ownership
100
Entity Name
Trump New World Property
Management, LLC
Name
DJT Holdings LLC
Ownership
50.00%
Title
Managing Member
Role
Shareholder

OOEForm27 1 c(1'fanh 20 1~)
I
Instructions for Part 2
Note: This is a public form. Do not Include account numbers, street addre sses, or family member names. See Instructions for requ ired inform;tlon.
Filc~s Nome
IPogc Number
Reference fl
432 TRUMP RUFFIN COMMERCIAL LLC •(assets & income already disclosed on Part 2 under TRUMP RUFFIN TOWER I LLC; operator of front
desk)
Owned by:
%0wnershio
100
Name
TRUMP RUFFIN TOWER I LLC
Managing Member
433 TRUMP RUFFIN LLC •(1)
Owned by:
Has ownership Interest In :
%Ownership
l
49
50
Entity Name
TRUMP RUFFIN TOWER 1 LLC
Name
TRUMP LAS VEGAS MANAGING
MEMBER LLC
TRUMP LAS VEGAS MEMBER LLC
Hyde Park, LLC
Ownership
100,00%
Title
Managing Member
Role
Managing Member
Member
Member
434 TRUMP RUFFIN TOWER I LLC
Owned by:
%Ownership
100
Name
TRUMP RUFFIN LLC
Role
Managing Member
Has ownership interest In :
Entity Name
Ownershio
TRUMP RUFFIN COMMERCIAL LLC 100.00%
Title
Managing Member
435 TRUMP SALES & LEASING CHICAGO LLC •rs1
Owned by:
%Ownership
l
99 DJT Holdings LLC
436 TRUMP SALES & LEASING CHICAGO MEMBER CORP •r1 I
Name
TRUMP SALES & LEASING CHICAGO
MEMBER CORP
Role
Member
Member
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest in :
Entity Name
TRUMP SALES & LEASING
CHICAGO LLC
437 TRUMP SCOTLAND MEMBER INC. •r11
Ownershlo
Title
1.00% Member
Owned by :
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
Entity Name
TRUMP INTERNATIONAL GOLF
LINKS - SCOTLAND
438 TRUMP SCOTSBOROUGH SQUARE LLC
Ownership
Title
1.00% Member
Owned by :
%Ownership
l
Name
TRUMP SCOTSBOROUGH SQUARE
MEMBER CORP.
99 DJT HOLDINGS LLC Member
439 TRUMP SCOTSBOROUGH SQUARE MEMBER CORP. •r11
Role
Managing Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest In : Entity Name Ownership
TRUMP SCOTSBOROUGH SQUARE 1.00%
LLC
Title
Managing Member
440 TRUMP SOHO MEMBER LLC '(31
Owned by :
% Ownership
100
441 TRUMP TORONTO DEVELOPMENT, INC. •(41
Name
DJT Holdings LLC
Role
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
442 TRUMP TORONTO HOTEL MANAGEMENT CORP
Owned by :
% Ownership
100
443 TRUMP TORONTO MEMBER CORP •(3)
Name
OJT HOLDINGS MANAGING MEMBER
LLC
Role
Shareholder
OGEForm27h(Mmh201J)
Reference ti
Instructions for Part 2
Note: This Is a public form. Do not Include account numbers, street addresses, or family member names. See Instructions for required information.
Filer's Nome
Page Number
Donald J . Trump
A39 of47
Owned by :
%Ownership
100
Has ownership Interest in:
Entity Name
TRUMP MARKS TORONTO LP
444 TRUMP TOWER COMMERCIAL LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Member
Role
Shareholder
Owned by :
%Ownership
1
445 TRUMP TOWER MANAGING MEMBER INC.
99
Name
TRUMP TOWER MANAGING
MEMBER INC.
The Trump-Equttable Fifth Avenue
Company
Role
Managing Member
Member
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
Has ownership Interest In : Entity Name Ownership
TRUMP TOWER COMMERCIAL LLC 1.00%
Title
Managing Member
446 Trump Village Construction Corp. *(1)
Owned by:
%Ownership
2S
Name
The Dona ld J. Trump Revocable Trust
Role
Shareholder
75
Has ownership Interest In :
Entity Name
Starrett City Associates, LP.
Spring Creek Plaza LLC
447 TRUMP VINEYARD ESTATES LLC
Trump Family Members
Ownership
1.84%
1.84%
Title
Partner
Member
Shareholder
Owned by:
Has ownership Interest In :
%0wnershio
1
99
Entity Name
TRUMP VINEYARD ESTATES LOT 3
OWNERLLC
448 TRUMP VINEYARD ESTATES LOT 3 OWNER LLC
Name
TRUMP VINEYARD ESTATES
MANAGER CORP
DJT HOLDINGS LLC
Ownership
100.00%
Title
Member
Role
Managing Member
Member
Owned by :
% Ownership
100
449 TRUMP VINEYARD ESTATES MANAGER CORP *(1!
Name
TRUMP VINEYARD ESTATES LLC
Role
Member
Owned by: % Ownership Name Role
100 DJT Holdings Managing Member LLC Shareholder
Has ownership Interest In: Entity Name Ownership Title
TRUMP VINEYARD ESTATES LLC 1.00% Managing Member
450 TRUMP VIRGINIA ACQUISITIONS LLC
Owned by :
%Ownership
1
99
451 TRUMP VIRGINIA ACQUISITIONS MANAGER CORP *(1 !
Name
TRUMP VIRGINIA ACQUISITIONS
MANAGER CORP
DJT Holdings LLC
Role
Managing Member
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership interest In :
452 TRUMP VIRGINIA LOT 5 LLC
Entity Name
TRUMP VIRGINIA ACQUISITIONS
LLC
Ownership
Title
1.00% Managing Member
Owned by:
%Ownership
1
99
453 TRUMP VIRGINIA LOT 5 MANAGER CORP *(1!
Name
TRUMP VIRGINIA LOT 5 MANAGER
CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by :
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder

00Efonn271~(~""1n:h 20 1-')
Instructions for Part 2
No te : This is a public form. Do not Incl ude account numbers, street addresses, or family member names. See instructions fo r required information.
Filer's No.me
Pnge Number
Donald J . Trump A40 of 47
Reference# ~-------------------------------------------------~
Has ownership interest Jn :
Entity Name
Ownership
Title
TRUMP VIRGINIA LOT 5 LLC 1.00%
Managing Member
454 TRUMP WINE MARKS LLC *(3}
Owned by :
%Ownership
1
99
455 TRUMP WINE MARKS MEMBER CORP *(3!
Name
TRUMP WINE MARKS MEMBER
CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
TRUMP WINE MARKS LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Managing Member
Role
Shareholder
456 TRUMP WORLD PRODUCTIONS LLC *(4!
Owned by :
%Ownership
1
99
457 TRUMP WORLD PRODUCTIONS MANAGER CORP *(4}
Name
TRUMP WORLD PRODUCTIONS
MANAGER CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by: % Ownership Name Role
100 DJT Holdings Managing Member LLC Shareholder
Has ownership interest in : Entity Name Ownership Title
TRUMP WORLD PRODUCTIONS 1.00% Managing Member
LLC
458 TRUMP WORLD PUBLICA T/ONS LLC *(3!
Owned by:
% Ownership
100
459 TRUMP'S CASTLE MANAGEMENT CORP *(3}
Name
DJT Holdings LLC
Role
Member
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
460 TURNBERRY SCOTLAND LLC *(1!
Owned by :
Has ownership Interest In :
%Ownership
99
Entity Name
Golf Recreation Scotland limited
Name
TURNBERRY SCOTLAND MANAGING
MEMBER CORP
DJT HOLDINGS LLC
Ownership
100.00%
Title
Sole Member
Role
Managing Member
Member
461 TURNBERRY SCOTLAND MANAGING MEMBER CORP *(11
Owned by:
Has ownership Interest In :
%Ownership
100
Entltv Name
TURNBERRY SCOTLAND LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownership
Title
1.00%
Managing Member
Role
Shareholder
462 TW VENTURE I LLC
Owned by:
%Ownership
1
99
463 TWVENTURE I MANAGING MEMBER CORP *(1)
Name
TW VENTURE I MANAGING MEMBER
CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In:
Entity Name
TW VENTURE I LLC
Ownership
1.00%
Title
Managing Member
464 TW VENTURE II LLC *(1 I
Owned by :
%Ownership

Reference ti
OOEForm211e (Msrd12Cll')
Instructions for Part 2
Note: Th is Is a public form. Do not Include account numbers, street addresses, or family member names.
Filcr'sNnme
Donald J. Trump
Has ownership interest In :
99
EntltvName
TRUMP INTERNATIONAL GOLF
LINKS - DOONBEG
465 TWVENTURE II MANAGING MEMBER CORP *(1/
TW VENTURE 11 MANAGING
MEMBER CORP
DJT HOLDINGS LLC
Ownership
100.00%
Title
Shareholder
Member
Owned by:
Has ownership Interest in :
%Ownership
100
Entity Name
TW VENTURE II LLC
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Ownership
Title
1.00%
Managing Member
Role
Shareholder
466 ULTIMATE AIR CORP. *(3/
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
467 UNIT 2502 ENTERPRISES CORP *(1/
Owned by:
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In:
Entity Name
UNIT 2502 ENTERPRISES LLC
Ownership
Title
1.00% Managing Member
468 UNIT 2502 ENTERPRISES LLC *(5/
Owned by:
%Ownership
1
Name
UNIT 2502 ENTERPRISES CORP
Role
Managing Member
99
469 TRUMP NATIONAL GOLF CLUB - LOS ANGELES
DJT HOLDINGS LLC
Member
Owned by:
Has ownership Interest In:
%0wnershio
100
Entity Name
VHPS LLC
Name
RPV DEVELOPMENT LLC
Ownership
100.00%
Title
Managing Member
Role
Shareholder
470 VHPS LLC *(assets & income already disclosed on Part 2 under TRUMP NATIONAL GOLF CLUB - LOS ANGELES; owner of vacant land!
Owned by:
471 WEST PALM OPERA T/ONS LLC •(5)
%Ownership
100
Name
TRUMP NATIONAL GOLF CLUB - LOS
ANGELES
Role
Managing Member
Owned by:
472 Wexford Hall Inc. *(3)
%Ownership
100
Name
DJT Holdings LLC
Role
Member
Owned by :
%Ownership
25
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
473 WHITE COURSE LLC *(5)
75
Trump Family Members
Shareholder
Owned by:
%Ownership
1
99
474 WHITE COURSE MANAGING MEMBER CORP *(11
Name
WHITE COURSE MANAGING
MEMBER CORP
DJT HOLDINGS LLC
Role
Managing Member
Member
Owned by:
% Ownership
100
Name
DJT Holdlngs Managing Member LLC
Role
Shareholder
Has ownership interest in :
Entity Name
WHITE COURSE LLC
Ownership
Tltle
1.00% Managing Member
475 Wiishire Hall LLC •(3)
Owned by:
%Ownership
25
75
Name
DJT Holdings LLC
Trump Family Members
Role
Member
Member

r-
Instructions for Part 2
Note : This is a public form. Do not include account numbers, street addresses, or fa m ily member names. See instructions for required Information.
f-
0G[Form2lk(Mon:h201J)
Owned by: % Ownership Name
100 DJT Holdings LLC
477 YORKTOWN REAL ESTATE LLC (FIKIA Yorktown Development Associates LLC) *(3!
Role
Member
Owned by:
%Ownership
100
Name
DJT HoldJngs LLC
Role
Member
47B HWA 555 Owners, LLC
Owned by:
%Ownership
100
Name
Hudson Waterfront Associates I, LP.
Role
Partner
479 1290 AVENUE OF THE AMERICAS. A TENANCY-IN-COMMON
Owned by:
4BO Trump Management Inc.
%Ownership
52
20.2
27.B
Name
HWA 1290 111 LLC
HWA 1290 IV LLC
HWA 1290 V LLC
Role
Partner
Partner
Partner
Owned by :
%Ownership
25
Name
The Donald J. Trump Revocable Trust
Role
Shareholder
4Bl HWA 1290 Ill LLC *(1!
75
Trump Family Members
Shareholder
Owned by:
Has ownership interest in :
%Ownership
100
Entity Name
1290 Avenue of the Americas
Name
Hudson Waterfront Associates Ill,
LP.
Ownership
52.00%
Title
Partner
Role
Partner
4B2 HWA 1290 IV LLC *(1!
Owned by:
Has ownership Interest in :
%Ownership
100
Entity Name
1290 Avenue of the Americas
Name
Hudson Waterfront Associates IV,
LP.
Ownership
20.20%
Tiiie
Partner
Role
Partner
4B3 HWA 1290 V LLC *(1!
Owned by:
%Ownership
100
Name
Hudson Waterfront Associates V, L.P.
Role
Partner
Has ownership Interest In :
Entity Name
1290 Avenue of the Americas
Ownership
27.BO%
Title
Partner
4B6 Travel Enterprises Management Inc. *(5!
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
490 The Donald J. Trump Companv LLC *(3!
Owned by:
%Ownership
100
Name
The Donald J, Trump Revocable Trust
Role
Member
493 DT BALI GOLF MANAGER LLC *(4!
Owned by:
%Ownership
1
99
Name
OT BALI GOLF MANAGER MEMBER
CORP
TTTTVENTURE LLC
Role
Managing Member
Member
494 DT BALI GOLF MANAGER MEMBER CORP *(4!
Owned by:
%Ownership
100
Name
OJT Holdings Manaclng Member LLC
Role
Shareholder
Has ownership Interest in :

OOEFcnn2Uc:(~L:m: h 2 0 1~)
Instructions for Part 2
Note: This is a public form. Do not include account numbers, street addresses, or family member names. See instructions for required information.
Filer's Nnmc
Page Number
Donald J . Trump
A43 of47
Reference## ~------------,-,,-,-----,-----------------------------------------'
OT BALI GOLF MANAGER 1.00% Managing
495 DT BALI HOTEL MANAGER LLC •(41
Member
Owned by:
%0wnershlo
1
99
Name
OT BALI HOTEL MANAGER MEMBER
CORP
TTTT VENTURE LLC
Role
Managing Member
Member
496 DT BALI HOTEL MANAGER MEMBER CORP *(41
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
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Entity Name
OT BALI HOTEL MANAGER LLC
Ownership
Title
1.00% Managing
Member
497 DT BALI TECHNICAL SERVICES MANAGER LLC
Owned by:
%Ownership
1
99
Name
OT BALI TECHNICAL SERVICES
MANAGER MEMBER CORP
TTTTVENTURE LLC
Role
Managing Member
Member
49B DT BALI TECHNICAL SERVICES MANAGER MEMBER CORP •r11
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
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OT BALI TECHINICAL SERVICES 1.00% Managing
MANAGERLLC
Member
499 DT CONNECT EUROPE LIMITED
Owned by :
%Ownership
100
Name
Golf Recreation Scotland limited
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Partner
500 DT ENDEAVOR I LLC
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The Donald J. Trump Revocable Trust
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503 DT JEDDAH TECHNICAL SERVICES MANAGER LLC •(41--DISSOLVED 11115116
Owned by:
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OT JEDOAH TECHNICAL SERVICES
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504 DT JEDDAH TECHNICAL SERVICES MANAGER MEMBER CORP *(41--DISSOLVED 11115116
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OT JEDDAH TECHINALSERVICES 1.00%
MANAGERLLC
505 DT LIDO GOLF MANAGER LLC •(41
Title
Managing
Member
Role
Shareholder
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1
99
Name
OTLIDO GOLF MANAGER MEMBER
CORP
TTTT VENTURE LLC
Role
Managing Member
Member
506 DT LIDO GOLF MANAGER MEMBER CORP •(41
Owned by:
%Ownership
100
Name
DJT Holdlngs Managing Member LLC
Role
Shareholder
Has ownership Interest In :

0ClEForm2711c(M""""'h2014)
p-
Instructions for Part 2
Note: This is a public form. Do not Include account numbers, street addresses, or famllv member names. See Instructions for required Information.
f-
so1 DT LIDO HOTEL MANAGER LLC *(4)
Owned by :
%Ownership
1
99
Name
OT LIDO HOTEL MANAGER MEMBER
CORP
TITT VENTURE LLC
Role
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Member
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Owned by :
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
Shareholder
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Entity Name
OT LIDO HOTEL MANAGER LLC
Ownership
Title
1.00% Managing
Member
so9 DT LIDO TECHNICAL SERVICES MANAGER LLC
Owned by:
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99
Name
OT LIDO TECHNICAL SERVICES
MANAGER MEMBER CORP
TITT VENTURE LLC
Role
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Member
s10 DT LIDO TECHNICAL SERVICES MANAGER MEMBER CORP *(1)
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
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Entity Name
OT LIDO TECHNICAL SERVICES
MANAGERLLC
Ownership
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1.00% Managing
Member
su DT MARKS BALI LLC *(4)
Owned by :
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99
Name
OT MARKS BALI MEMBER CORP
DTTM OPERATIONS LLC
Role
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Member
s12 DT MARKS BALI MEMBER CORP *{4)
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Entltv Name
OT MARKS BALI LLC
DTTM Operations Managing
Member Corp
Ownershlo
1.00%
Title
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Member
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S13 DT MARKS LIDO LLC *(41
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99
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OT MARKS LIDO MEMBER CORP
DTTM OPERATIONS LLC
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OT MARKS LIDO LLC
Name
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1.00%
Title
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Member
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Shareholder
SlS DT TOWER I LLC *(4)
Owned by:
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99
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DJT Hold ings LLC
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Owned by:
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100
Name
OJT Holdings Managing Member LLC
Role
Shareholder

00£ f(lflll 278e (Mllld1 :ZOH)
Refere nce ti
r-
Instructions fo r Part 2
Note: This is a public form. Do not fndude account numbers, street addresses, or fam ily member names. See instructions for required information.
Has ownership interest in :
517 DT TOWER KOLKA TA LLC
Entity Name
DTTOWER I LLC
Ownership
1.00%
Title
Managing
Member
tt-
Owned by :
%Ownership
99
Name
DTTOWER KOLKATA MANAGING
MEMBER CORP
DTIM OPERATIONS LLC
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Member
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Owned by:
Has ownership Interest In :
%Ownership
100
Entity Name
DTTOWER KOLKATA LLC
Name
DTIM Operations Managing
Member Corp
Ownership
1.00%
Title
Member
Role
Shareholder
S19 D TTM OPERATIONS LLC
Owned by:
%Ownership
1
99
Name
DTIM OPERATIONS MANAGING
MEMBER CORP
DJT Holdings LLC
Role
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Member
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va rious entities as indicated elsewhere in this schedule
s20 DTTM OPERATIONS MANAGING MEMBER CORP *(1)
Owned by:
%Ownership
100
Name
DJT Holdings Managing Member LLC
Role
Shareholder
Has ownership Interest In :
various entities as indicated elsewhere in this schedule
521 EID VENTURE II LLC *(2)
Owned by :
%Ownership
1
99
Name
EID VENTURE II MEMBER CORP
The Donald J. Trump Revocab le Trust
Managing Member
Member
522 EID VENTURE II MEMBER CORP *(21
Owned by :
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
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EID VENTURE II LLC 1.00% Managing
Member
523 MOBILE PAYROLL CONSTRUCTION LLC
Owned by:
%Ownership
99
Name
MOBILE PAYROLL CONSTRUCTION
MANAGER CORP
DJT Holdings LLC
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Member
524 MOBILE PAYROLL CONSTRUCT/ON MANAGER CORP *(1)
Owned by :
%Ownership
100
Name
OJT Holdings Managing Member LLC
Role
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MOBILE PAYROLL CONSTRUCTION 1.00%
LLC
Title
Managing
Member
525 THC DC RESTAURANT HOSPITALITY LLC *(1)
Owned by :
%Ownership
100
Name
OPO HOTEL MANAGER LLC
Role
Member
528 THC JEDDAH HOTEL MANAGER LLC *(4)-DISSOLVED 11115116
OGE F<1m1 :m~ O., lan:h 2014)
Instructions for Part 2
Note : This is a public form. Do not Include account numbers, street addresses, or family member naml!!s . Sel!! Instructions for requlred information.
Filer's Nnme
Page Number
Donald J . Trump A46 of 47
Reference# ~-...,,.-------------,-------------,-,----------------------=--:---------~
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99 Trump, Donald J.
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529 THC JEDDAH HOTEL MANAGER MEMBER CORP '(41--D/SSOLVED 11115116
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EntitvName
THC JEDDAH HOTEL MANAGER
LLC
Name
Trump, Donald J.
Ownership
1.00%
Title
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Member
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Shareholder
530 C DEVELOPMENT VENTURES LLC *(3}
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99
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C DEVELOPMENT VENTURES
MEMBER CORP
DTTM OPERATIONS LLC
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Has ownership interest in: Entity Name Ownership
C DEVELOPMENT VENTURES LLC 1.00%
532 TC MARKS BUENOS AIRES LLC *(41--DISSOLVED 1126117
Name
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Member Corp
Title
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Name
TTTT VENTURELLC
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Owned by:
%Ownership
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Name
DJT Holdings LLC
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534 DT VENTURE I MEMBER CORP *(3}
Owned by :
% Ownership
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Name
DlTM Operations Managing
Member Corp
Role
Shareholder
535 DT VENTURE II LLC
Owned by:
%Ownership
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Name
DJT Holdings LLC
Role
Member
536 DT VENTURE II MEMBER CORP *(31
Owned by:
%Ownership
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DTIM Operations Managing
Member Corp
Role
Shareholder
537 DT TOWER II LLC '(41
Owned by:
% Ownership
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99
Name
DTIM Operations LLC
DTTOWER II MEMBER CORP
Role
Member
Managing Member
538 DT TOWER II MEMBER CORP *(4}
Owned by:
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%Ownership
100
Entltv Name
DTTOWER 11 LLC
Name
DTIM Operations Managing
Member Corp
Ownership
99.00%
Title
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Member
Role
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539 DT ENDEAVOR I MEMBER CORP *(3/
Owned by:
%Ownership
OGE.FOf1U2l!e(MAR:h::?01~)
Instructions for Part 2
Notl!! : This Is a public form. Do not Include account numbers, strel!!t addrl!!SSl!!S, or family member names. See Instructions for required informiltion.
Filer's Nnmc
Pngc Number
Donald J. Trump A47 of 47
Reference# ~-------------------------------------------------~
100
DTIM Operations Managing
Shareholder
Member Corp
540 4T HOLDINGS ONE LLC -C31
Owned by :
% Ownership
100
Name
TITT VENTURE LLC
Role
Member
541 4T HOLDINGS TWO LLC '(3)
Owned by :
%Ownership
100
Name
TITT VENTURE LLC
Role
Member
542 STORAGE 106 LLC
Owned by:
%Ownership
100
Name
The Donald J. Trump Revocable Trust
Role
Member
543 T EXPRESS LLC ' (5)
Owned by:
% 0wnershlo
1
99
Name
T EXPRESS MANAGER MEMBER CORP
TITT VENTURE LLC
Managing Member
Member
S44 T EXPRESS MANAGER MEMBER CORP '(11
Owned by :
% Ownership
100
Name
DJT HOLDINGS MANAGING MEMBER
LLC
Role
Shareholder
Has ownership interest in :
Entity Name
TEXPRESS LLC
Ownership
1.00%
Title
Managing
Member
Real Estate License Fees (Royalties) are customarily paid to Trump in phases: upon signing of the License Agreement (Upfront Fee), and during various
stages of the project's development. Therefore, the amount of License fee income reflected herein is dependent on the phase of that project's development
cycle with tlte majority of payment back-loaded towards project completion.
"
TEXT-002-HOUSE_OVERSIGHT_033276.txt,"From: Richard Kahn 
Sent: 3/14/2018 4:59:21 PM 
To: jeffrey E. [jeevacation@gmail.com] 
Subject: Trump plans to name Larry Kudlow his top economic advisor, replacing Gary Cohn 
Importance: High 
https://www.cnbc.com/2018/03/14/trump-to-name-larry-kudlow-as-gary-cohn-replacement.html 
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033276 
"
IMAGES-010-HOUSE_OVERSIGHT_029017.txt,"From: Deepak Chopra

Sent: 11/10/2016 10:30:08 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
Thanks
Deepak Chopra

2013 Costa Del Mar Road
Carlsbad, CA 92009

Super Genes: Unlock the Astonishing Power of Your DNA for Optimum Health and Wellbeing

On Nov 10, 2016, at 5:17 PM, jeffrey E. <jeevacation@gmail.com> wrote:

great

On Thu, Nov 10, 2016 at 11:16 PM, Deepak Chopra i, wrote:

Good
See you this Sat 230 PM ?

Deepak Chopra

2013 Costa Del Mar Road
Carlsbad, CA 92013

New Book: Radicalbeauty.com

On Nov 10, 2016, at 5:15 PM, jeffrey E. <jeevacation@gmail.com> wrote:

yup

HOUSE_OVERSIGHT_029017
"
IMAGES-002-HOUSE_OVERSIGHT_012837.txt,"tend to leave them within this arena even if they lose particular capacities. Conversely, if scientists
discover that an organism outside the arena of moral patient-hood has capacities of experience and agency
that are on a par with those inside the arena, this evidence often promotes their legal status and protection.
Such was the fate of the octopus, an invertebrate once classified by Aristotle as “stupid”, but now
elevated to the company of much smarter animals that solve novel problems, deploy trickery, and show
some evidence of being aware of their behavior. As such, they are one of the few invertebrates to enjoy
heightened protection and care when they are kept in captivity.

Moral agents are high in agency, meaning that they can distinguish right from wrong, exert self-
control in the context of selfish temptation, can be blamed and punished, and are expected to care for
moral patients. Moral patients are high in experience, including especially the capacity to feel pain. Both
moral agents and patients have moral worth. But as in all entities that have worth or value, some are more
valuable than others. So it is with moral worth. This is where departures from humanness get interesting,
dangerously so. When we strip individuals of their moral worth, denying them qualities that define
humanness, we have entered a world of distortion and denial that facilitates and justifies excessive harms.

Across many studies, individuals consider themselves to be more human — as defined by the
dimensions of experience and agency — and to have greater moral worth than other individuals. When
individuals are socially ostracized and excluded from a group, they judge themselves as less human, and
so do the spectators who observe the ostracism. Individuals judge members of their own group to be more
human and morally worthy than those outside the group, no matter how small or broad the group is. What
counts is our overall sense of how we compare to others, and the dimensions used to calibrate this
similarity metric. The Australian social psychologist Nick Haslam carried out several experiments to
determine how our rating of a group’s humanness influenced how much we praise, blame and protect
them, as well as whether we believe that rehabilitation or punishment is most appropriate after they have
done something wrong. Haslam based his study on the idea, supported by the law, science, and our folk
intuitions that we blame, praise and punish only those who do bad things on purpose as opposed to by
accident. Conversely, we favor rehabilitation in those cases where we believe that the person can right a
wrong, learning a lesson from a prior transgression.

Subjects started by rating several different social groups along different dimensions of
humanness. Though Haslam’s dimensions were slightly different from those used by Gray and Wegner,
they generally corresponded to experience and agency, including compassion, warmth and a sense of
community on the one hand, and reason, self-control, civility, and refinement on the other. The target
social groups were associated with negative or positive stereotypes such as the homeless, mentally
disabled, athletes, politicians, doctors, lawyers, gays, and different religious groups. Next subjects

imagined that a member of one of these groups had acted morally or immorally, or had been mistreated in

Hauser Chapter 3. Ravages of denial 91

HOUSE_OVERSIGHT_012837
"
TEXT-001-HOUSE_OVERSIGHT_029096.txt,"From: Joi Ito 
Sent: 6/1/2017 12:37:55 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Thanks 
(Tip: Use NRR to mean No Reply Required - thank you!) 
On Jun 1, 2017, at 8:21 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
i need to edit and hand. sorry, i will try to get to it this weekend. soo swamped here. its so much fun. 
On Thu, Jun 1, 2017 at 8:16 AM, Joi Ito wrote: 
Not yet. I will when I talk to him next - but not sure when that is. 
BTW, should be expecting funding yet or after we figure out the pitch? 
- Joi 
> On Jun 1, 2017, at 8:12 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
> did you talk to reid about the donor advised fund? 
> On Thu, Jun 1, 2017 at 8:12 AM, Joi Ito wrote: 
>:-) 
> > On Jun 1, 2017, at 6:00 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
> > 
> > when i told reid that obama just wanted to make money, he thought i was being cynical, as he was sure 
that doing good was going to be the goal 
> > 
> > https://www.nytimes.com/2017/05/31/us/obama-buys-house-washington-
kalorama.html?module=WatchingPortal&region=c-column-middle-span-
region&pgType=Homepage&action=click&mediaId=thumb square&state=standard&contentPlacement=6&ve 
rsion=internal&contentCollection=www.nytimes.com&contentId=https%3A%2F%2Fwww.nytimes.com%2F2  
017%2F05 %2F31%2Fus %2Fob ama-buys-house-washington-kalorama. html& eventName=Watching-article-
click  
> > 
> > 
> > please note 
> > The information contained in this communication is 
> > confidential, may be attorney-client privileged, may 
> > constitute inside information, and is intended only for 
> > the use of the addressee. It is the property of 
> > JEE 
> > Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 029096 
> > communication or any part thereof is strictly prohibited 
> > and may be unlawful. If you have received this 
> > communication in error, please notify us immediately by 
> > return e-mail or by e-mail to jeevacation@gmail.com, and 
> > destroy this communication and all copies thereof, 
> > including all attachments. copyright -all rights reserved 
> 
> 
> 
> 
> --
> please note 
> The information contained in this communication is 
> confidential, may be attorney-client privileged, may 
> constitute inside information, and is intended only for 
> the use of the addressee. It is the property of 
> JEE 
> Unauthorized use, disclosure or copying of this 
> communication or any part thereof is strictly prohibited 
> and may be unlawful. If you have received this 
> communication in error, please notify us immediately by 
> return e-mail or by e-mail to jeevacation@gmail.com, and 
> destroy this communication and all copies thereof, 
> including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029097 
"
IMAGES-011-HOUSE_OVERSIGHT_031211.txt,"Epstein building compound on Great St. James | News | virginislandsdailynews.com 5/7/19, 9:15 AM

Kellerhals organized Great St. Jim LLC on Oct. 26, 2015, with
herself as the sole member, and identified Geary’s company,
Business Basics VI LLC, as the resident agent.

Kellerhals could not be reached for comment Monday.

Documents contained in the permit application file show
that DPNR employees and Epstein’s staff have been
communicating for years about the project.

“(H]i Erika, spoke with Jeff yesterday and let him know that
the scopes of work from both applications are being
combined into one single permit. Dave of my staff is
supposed to reach out to the LSJ [Little St. James] staff and
arrange when he can make the required site visit. there are
some specific details that were not included in the
application package, so they will have to be verified during
the site visit and notes made on the submitted drawings,”
Oriol wrote to Kellerhals in an email dated Aug. 16, 2016,
under the subject line, “RE: Cistern Permit.”

An email from DPNR legal counsel Michele Baker to
Kellerhals dated Aug. 26, 2016, lists anumber of documents
required for the permit application to proceed, and indicates
that “the OWNER” has to sign off.

Kellerhals responded in an email that “I understand that
there are some places where the owner needs to sign if the
attorney completes the application. I will discuss with Jeffrey
and get you copies of those signed attachments asap. You are
correct that I am no longer the sole member. In fact, 1am not
a member at all. The only position I serve is as counsel to
Great St. Jim.”

Epstein signed off on the application for a Coastal Zone
Management major permit on Jan. 10, 2017, identifying
himself as “President of Poplar, Inc., sole member of Great
St. Jim, LLC.”

Permit application documents and site plans on file show
that Epstein is planning a complex of buildings across the
approximately 160-acre island, connected by private road.
The plans include a barge dock, two homes, cottages, an
amphitheater, gardens, a marine electrical cable, solar array
and generator, storage building, security building, workshed
and machine shop, and an “underwater office & pool.”

The permit application addresses mitigation efforts for
endangered corals and the Virgin Islands tree boa — which
was spotted on the island during site visits — and indicates

http://www.virginislandsdailynews.com/news/epstein-building-compoun...n-great-st-james/article_ a49261e9-40f0-57b1-9501-605e26e74cf3.html Page 3 of 4

HOUSE_OVERSIGHT_031211
"
IMAGES-001-HOUSE_OVERSIGHT_012457.txt,"10
17
12
13
14
15
16
17
18
19
20
21
22
23
24
25

om

oO On OD TO BP W PD

12

13

~0929104. TXT
Q. Didn't Detective Recarey have to come to

your house to pick you up to get you to testify in front
of the Grand Jury?

A. Possibly, maybe because | didn't have a
ride. | was only 14 or 15 at the time.

Q. Your mom didn't drive you?

A. No.

Q. Stepmom didn't drive you?

A. | think my dad. Oh, my dad / my dad drove
me.

Q. Your dad drove you?

A. Yes, sir.

Q. So your testimony is Detective Recarey did

not drive you, correct?
MR. LEOPOLD: Objection /asked and
answered.

THE WITNESS: No. I'm pretty sure my dad

73

drove me because he was there with me.
BY MR. TEIN:

Q. Did any detective tell you to change your
age on your MySpace page to put your true age?

A. No, sir.

Q. Now you also lied on your MySpace page
about your income, didn't you?

As Yes.

Q. That was a lie, wasn't it?

Yes.
Page 62

HOUSE_OVERSIGHT_012457
"
TEXT-001-HOUSE_OVERSIGHT_025874.txt,"From: 
Sent: 
To: 
Subject: 
David Stern 
1/22/2015 2:48:23 PM 
jeffrey E. [jeevacation@gmail.com] 
Re: 
Importance: High 
Understood 
On 22 Jan 2015, at 15:46, jeffrey E. <jeevacation@gmail.com> wrote: 
no, the govt opposed her joining, nothing more. the only thing that can be proven, is that her story re clinton 
is totlaly nade up, he was never ever there and the press shoudl be challenged to prove it. secret service 
records as wlell as local virgin isalds support will clearly prove he was never there, she detailed how he 
arrived,"" black heli flown by ghislane . LIES sitting on my left lies, all bulshit and as it is the only non he 
said she said argument i think it should be stressed 
On Thu, Jan 22, 2015 at 9:42 AM, David Stern wrote: 
Can you confirm Doe 3 has been thrown out of the case against the US gov to reopen ? 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 025874 
"
IMAGES-008-HOUSE_OVERSIGHT_025397.txt,"Message: Yes approx time?

Time: 09/14/18 02:31:54 PM (558653514)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 171D39BC-7484-426A-AFA5-81746AB4F417

Message: Mm

Sender: e:jeeitunes@gmail.com

Time: 09/14/18 02:32:28 PM (558653548)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 5B38048B-CEF9-4146-91

r,

.F-4ERA9A360DEA0

Message: ?

Time: 09/14/18 05:14:11 PM (558663251)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: 37F874B9-11D8-413A-86FA-94967632F0EB

Message: Can't make it tonight -- can I call u later ???

Sender: e:jeeitunes@gmail.com

Time: 09/14/18 05:15:57 PM (558663357)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: OFS5A1736-47E2-4AF5-A05A-CFF3E3455318

Message: No worry at all - yes call later fine -

Sender: e:jeeitunes@gmail.com

Time: 09/14/18 05:17:17 PM (558663437)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: EEBEFO2B-47E6-47FD-8ECE-46B1C18271EA

Message: do you want early breakfast? And are you coming for Kathy?

Sender: +13109906526

HOUSE_OVERSIGHT_025397
"
IMAGES-009-HOUSE_OVERSIGHT_027877.txt,"Chapter Two

The 1948 war and the decade that followed remain vivid in my mind not just
for the obvious reason: they secured the survival of the infant state of Israel and
saw it into a more assured and independent young adulthood. It was also the
time when I grew from a young child —introspective and contemplative, aware
of how quickly my mind seemed to grasp numbers and geometric shapes and
musical notes, but also small for my age and awkward at the sports we’d play
on the dusty field at the far edge of the kibbutz — into a sense of my own place
in the family and community and the country around me. I did, along the way,
become arguably the most effective left defensive back on our kibbutz soccer
team. But that was not because I suddenly discovered a buried talent for the
game. Physically, I was like my father. I had natural hand coordination which
made delicate tasks come easily — one reason I would soon discover a pastime
that lent itself to acts of kibbutz mischief bordering on juvenile delinquency.
But when it came to larger muscles, I was hapless, if not hopeless. My prowess
as a soccer defenseman was because no opposing player in his right mind, once
I’d inadvertently cut his knees from under him when aiming for the ball, felt it
was worth coming anywhere close to me.

But when the war broke out in earnest in the spring of 1948, my focus, like
that of all Israelis, was on the fighting, which even the youngest of us knew
would determine whether the state would survive at all. Day after day, my
father helped me to chart each major advance and setback on a little map.
Dozens of kibbutzim around the country were in the line of fire. Some had soon
fallen, while others were barely managing to hang on. Just five miles inland
from us, an Israeli settlement came under attack by an Iraqi force in the nearby
Arab village of Qaqun.

But inside Mishmar Hasharon, I had the almost surreal feeling that this great
historical drama was something happening everywhere else but on our kibbutz.
If it hadn’t been for the radio, or the newsreels which we saw in weekly movie
nights in the dining hall, and the little map on which I traced its course with my
father, I would barely have known a war was going on. One Arab army did get
near to us: the Iraqis, in Qaqun. If they had advanced a few miles further, they
could have overrun Mishmar Hasharon, reached the coast and cut the new
Jewish state in half. I can still remember the rumble of what sounded like
thunder one morning in June 1948, as the Alexandronis, one of the twelve
brigades in the new Israeli army, launched their decisive attack on the Iraqis.

29
HOUSE_OVERSIGHT_027877
"
IMAGES-001-HOUSE_OVERSIGHT_012331.txt,"24
25

ue AN DD WH BP WwW NY BH

NN FP BP FP PP PB BP Bp Bp
Ke Oo ODO BN OD Uw RR WY NY RP OO

2007-04-25 [EEE xr

Q. Do you know the names of some of the girls that

you brought?

48

A. Huh?
Q. Do you know the name of some of the girls you

brought other than the ones that we've talked about right

now?

A, Like I said, I can't remember because usually
there --

Q. There's about 30 of them, so you've got to
know --

A. No, I don't know because there were girls that
I didn’t even know so, you know, I just asked them. I
said, Hey, would you like to make some money? Here's my
number. Do you want to make money? Here’s my number,
you know, and that's how it went. So I don't remember

the names and I really didn't care to know their names,

anyway.
Q. Do you know their phone numbers?
A. Now?
Q. Yeah.
A. No.
Q. Do you know any of their phone numbers?
A. No, no, no. That was years ago.

Page 50

HOUSE_OVERSIGHT_012331
"
IMAGES-011-HOUSE_OVERSIGHT_030669.txt,"constitute inside information, and is intended only for

the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030669
"
IMAGES-008-HOUSE_OVERSIGHT_024937.txt,"February 1968, when they met and issued a historical statement announcing the establishment of a federal
union between Abu Dhabi and Dubai and called on their brothers in the neighboring emirates to join the union.
Do you know what it meant for us to stand few days ago with His Highness Sheikh Khalifa at the “Union
House” under the UAE flag, and in the same place where our ancestors stood the day of the UAE
announcement? Would you be able to appraise our feelings at that moment? These are moments that you cannot
ponder easily. They are priceless.

Those who know the truth about the Abu Dhabi and Dubai relationship and all the other Emirates, are well
aware that the federation of the UAE is a choice of wise and liberated people who are guided by their heart,
beliefs and wisdom. They are people who God Almighty described as ready to sacrifice their souls for others.
Again, I remind you of what His Highness Sheikh Khalifa said. “We are ... one strong, coherent body.

The National Abu Dhabi Media Company - Matt Slater

The United Arab Emirates is a federation but there is a tendency, particularly in health
and education, to allow individual emirates to dictate policy. Will this continue or will
the federal government seek to establish a more unified national approach on domestic
policy?

None of the seven emirates develops its own independent health and educational policies. All legislation and
policies related to education and overall health are developed at the federal level. What is happening is precisely
the expansion of the decentralized planning and implementation in order to raise the efficiency of education and
medical services. This is what we see in industrialized countries, such as the United States and the United
Kingdom, Germany, Switzerland and others. Our experience in education foundered for many reasons, and we
are racing against time to make up for what we missed and to create sustainable development in the education
sector. Of course, the process of development widens then to diversify the teaching methods and to attract
broad participation of the private sector.

The National Abu Dhabi Media Company - Matt Slater

The Federal National Council has expressed concern that its views are ignored by the
UAE cabinet and that, in reality, they have little power. What role do you see the FNC
playing within the country’s decision-making p rocess, and in what way is the Council
likely to evolve in the future?

We never received any complaints against the government for ignoring the views of the Council; instead we
always receive compliments and appreciation about cooperation. We constantly express our appreciation to the
Council for its role in the decision-making process. In fact, draft laws first have to pass through the FNC for
review and recommendations, and later sent back to the Cabinet for consideration and approval.

The Council is also empowered to summon and to question any Federal Minister regarding Ministry
performance. We believe in the importance of the Council, and we respect its effective role in the process since
its inception. The current session marked a beginning of change in the Council in the method of selecting its
members. We witnessed for the first time the formation of election associations in the UAE to elect half the
members of the 40-member Council, with 22 percent of members of the Council being women, one of the
highest such rates in the world.

In any case, since the founding of the UAE we chose the approach of gradualism. We in the UAE do not work

with a “burning stages” style. Our laws and procedures are in line with reality and our reticence. We believe
that our people are satisfied with this approach that results in prosperity and stability.

HOUSE_OVERSIGHT_024937
"
IMAGES-011-HOUSE_OVERSIGHT_031577.txt,"the ruling BJP has not a single Muslim MP among its cohort of 282;
Muslims are reckoned to comprise at least 14% of the Indian population.

But largely Mr Modi told the truth: the BJP’s manifesto and Mr Modi’s
speeches emphasised economic and development matters. The victory he
achieved is more the result of his talk of strong government and
improvements to the material lives of voters than anything else. That is
encouraging. It suggests that he will now seek to govern in a way that
encourages economic growth, job creation and better infrastructure, along
with further reductions in poverty and inflation. Mr Modi has been
dropping strong hints that he hopes to remain in power not only for the
current five-year term, but to win re-election and reshape India’s economy
and political landscape. In other words, he is considering his long-term
prospects by keeping in mind the rise of a powerful new constituency that
will only gather more influence as the years pass: the young, urban,
educated and impatient set of voters who aspire for material gains to their
lives. We argued before that such voters, for whom there is only “one
God, that is GDP”’, will increasingly decide the outcome of Indian
elections. Mr Modi and the BJP look set to corner their support.

What comes next? On May 20th the BJP will meet, apparently to elect Mr
Modi formally as their leader. That, apparently, 1s a precursor to the
formation of a government which is going to include the immediate allies
of the party that make up the National Democratic Alliance. It could, too,
be made from of a wider coalition, since the BJP—if it is to push through
legislative changes quickly—will need additional help from other parties
that control powerful states, and to win more support in the upper house of
parliament.

Unease persists about the role of the Hindu-nationalist right, whose
footsoldiers undoubtedly helped a great deal in getting BJP candidates
elected. With Mr Modi having been an activist member in the right-wing
Rashtriya Swayamsevak Sangh (RSS) since he was a boy, some on the
right have expectations that he will pursue an agenda of Hindutva (for
example getting a temple erected in Ayodhya, or changing the
constitutional status of Muslim-majority Kashmir). Others look for
evidence that nationalism of a protectionist variety will have a strong

HOUSE_OVERSIGHT_031577
"
IMAGES-004-HOUSE_OVERSIGHT_017866.txt,"IN RE TERRORIST ATTACKS ON SEPTEMBER 11, 2001

801

Cite as 349 F.Supp.2d 765 (S.D.N.Y. 2005)

stam or New York law. Similarly, Plain-
tiffs have not pleaded facts to suggest the
Princes knew they were making contribu-
tions to terrorist fronts and provided sub-
stantial assistance or encouragement to
the terrorists to satisfy Boum or New York
law. The Court has reviewed the com-
plaints in their entirety and finds no alle-
gations from which it can infer that the
Princes knew the charities to which they
donated were fronts for al Qaeda. The
Court is not ruling as a matter of law that
a defendant cannot be liable for contribu-
tions to organizations that are not them-
selves designated terrorists. But in such a
case, there must be some facts presented
to support the allegation that the defen-
dant knew the receiving organization to be
a solicitor, collector, supporter, front or
launderer for such an entity. There must
be some facts to support an inference that
the defendant knowingly provided assis-
tance or encouragement to the wrongdoer.
Here, there are no such factual bases pre-
sented, there are only conclusions. See
Robinson, 269 F.3d at 146 “(We note that
the conclusory nature of [plaintiffs] alleza-
tions alone would give us pause before we
would allow them to sustain jurisdiction.”)
(citing Zappa Middle Kast Const. Co. v.
Emirate of Abu Dhabi, 215 F.3d 247, 253
(2d Cir.2000) (finding, in context of FSIA
12(b)(1) motion, conclusory allegations in
plaintiffs affidavit insufficient to sustain
jurisdiction)). The law does not permit
Plaintiffs
to circumvent the jurisdictional hurdle of
the FSIA by inserting vague and conclu-
sory allegations of tortious conduct in
their complaints—and then ... rely on
the federal courts to conclude that some
conceivable non-discretionary tortious
act falls within the purview of these
generic allegations under the applicable
substantive law. This is at odds with
the goal of the FSIA to enable a foreign
government to obtain an early dismissal

when the substance of the claim against
it does not support jurisdiction.

Robinson, 269 F.3d at 146.

ii. Discretionary Function

Plaintiffs argue that there is no discre-
tion to conduct illegal activities and the
so-called discretionary function exception
to the tortious act exception should not
apply to Prince Sultan or Prince Turki.
See, eg, Liu v. Republic of China, 892
F.2d 1419, 1421, 1431 (th Cir.1989) (find-
ing no discretion to violate Chinese law
prohibiting murder where gunmen acting
on direction of China’s Director of De-
fense Intelligence Bureau killed plaintiffs
husband); Birnbaum v. United States,
588 F.2d 319, 329-80 (2d Cir.1978) (find-
ing in FTCA case that the CIA had no
authority and therefore no discretion to
open U.S. first class mail departing for
and arriving from the Soviet Union);
Glickman v. United States, 626 F.Supp.
171, 175 (S.D.N.Y.1985) (finding in FTCA
ease that CIA agent’s secret administra-
tion of LSD to plaintiff was not discretion-
ary function); Letelier v. Republic of Chi-
le, 488 F.Supp. 665, 673 (D.D.C.1980)
(holding no discretion to order or aid as-
sassination of former Chilean ambassador
and foreign minister). Prince Sultan in-
sists that any recommendation of govern-
ment grants to Islamic charities was a
discretionary function. Prince Turki
makes a similar argument regarding his
actions as the head of DGI and urges the
Court to find that all of his alleged actions
should be subsumed by the discretionary
function exception.

[28] The Court finds the discretionary
function exception independently bars
Plaintiffs’ claims against Prince Sultan and
Prince Turki. Both Princes are accused of
donating money or recommending govern-
ment grants to charities that allegedly sup-
ported al Qaeda. As the head of DGI,

HOUSE_OVERSIGHT_017866
"
IMAGES-010-HOUSE_OVERSIGHT_029771.txt,"But it appears his problems may not be over. Now The Daily Beast has learned that:

* Federal investigators continue to investigate Epstein’s activities, to see whether there is evidence of child
trafficking—a far more serious charge than the two in his non-prosecution agreement, the arrangement
between Epstein and the Department of Justice allowing him to plead guilty to lower-level state crimes.
Trafficking can carry a 20-year sentence.

¢ The FBI is also investigating Epstein’s friend Jean Luc Brunel, whose MC2 modeling agency appears to have
been a source of girls from overseas who ended up on Epstein’s private jets.

Because Epstein’s predatory habits stretch back many years and involved dozens of young-looking girls, there
may well be more evidence to uncover.

Under the concept of double jeopardy, Epstein can no longer be prosecuted for any of the charges covered by
his non-prosecution agreement, in which he agreed to serve a short term of incarceration, fund the civil suits of
named victims, and register as a sex offender. The victims who accepted cash settlements in these civil suits
agreed not to testify against him or speak publicly about the case. However, new evidence developed by the
Department of Justice on other offenses not covered by the agreement, including allegations by additional
victims who come forward, could lead to new charges. There is no statute of limitations in the federal sex-
trafficking law, which was also enacted by the state of Florida in 2002. Because his predatory habits stretch
back many years and involved dozens of young-looking girls, there may well be more evidence to uncover.
(Several young women who claim to be Epstein victims have recently contacted a Ft. Lauderdale lawyer, but to
date no new civil complaints have been filed.)

* Conchita Sarnoff: The Billionaire Pedphile's Sex Den

* Billionaire Pedophile Goes Free

These new developments come one week after the publication of two articles in The Daily Beast about
Epstein’s pattern of sexual contact with underage girls, which Palm Beach police began investigating in 2005
and the U.S. Attorney’s office then settled in a 2007 plea deal. The first article quoted a deposition by then-
Palm Beach Chief of Police Michael Reiter, in which he stated that Epstein, a billionaire with many powerful
friends, had received special treatment in both his plea deal and the terms of his incarceration. Although federal
investigators at one point produced a draft 53-page indictment against Epstein, he was eventually allowed to
plead guilty to only two relatively minor state charges and receive a short term of incarceration: 13 months in
the county jail, during which he went to the office every day, and one year of community control, during which
he traveled frequently to New York and his private island in the Virgin Islands.

The Daily Beast has now discovered another instance in which Epstein apparently received special
consideration: As a convicted sex offender, he is required by law to undergo an impartial psychological
evaluation prior to sentencing and to receive psychiatric treatment during and after incarceration. This is
because child molesters tend to be repeat offenders with high rates of recidivism. According to a source in law
enforcement, however, Epstein was allowed to submit a report by his private psychologist, Dr. Stephen
Alexander of Palm Beach, Florida, whose phone has since been disconnected with no forwarding information.

The Daily Beast’s second article provided details about Epstein’s systematic abuse of underage girls at his
Palm Beach mansion, where members of his staff allegedly recruited and paid a parade of teenagers, most of
them 16 or younger, to perform daily massages that devolved into masturbation, groping, and sometimes full-
blown sexual contact. It also revealed a monetary relationship between Epstein and Jean Luc Brunel, a frequent
visitor to whom he gave $1 million around the same time that Brunel was starting his MC2 modeling agency.
Some of the young girls MC2 recruited from overseas—often from Eastern Europe and South America—are
known to have been passengers on Epstein’s private jets.

The U.S. Attorney General’s Office in Florida says that it is against policy to confirm or deny the existence of
an investigation. Jeffrey Epstein’s lawyer, Jack Goldberger, says he has no knowledge of an ongoing probe,

HOUSE_OVERSIGHT_029771
"
IMAGES-001-HOUSE_OVERSIGHT_010526.txt,"IT'TERSON
Firtuy Ricu

y in Palm Beach who either made “My responsibility was to protect everyone that lives in Pal
ers who relayed them to me that I Beach and preserve their constitutional rights and be de, lice
nvestigation that we did, which is department for all,” Reiter said. “And I think that under ‘he ww
then refer it tothe FBI after the particularly under the criminal laws, that all people hav: : -
aid in the deposition. “I had one the nature of our system, be treated exactly alike : ee
couple of times about this.” But along with handing the case off to the FBI and the U

: individual in question was a | attorney, Reiter took another unusual step. He wrote =e
m letters—on Pa

y; this was a case that was really / victims in the _ OE SEEMS Tae
The victims had lifestyles that ; ’ He delivered the letters by hand.

ike them believable to the police

ids of suggestions to me were
said Reiter. “That he had taken a
1 toward something that could
Ve talked several times. Early on
w, this is an individual [whom] I

icial capacity and in his official

wasn't the only one to pressure
iments from a variety of different j
ad people tell me, hey, he’s a Palm 4
gating a Palm Beacher?” Reiter ‘
d people that said it was an unfa- ;
ask the state attorney to remove 3
fer it to the FBI....1 had plenty of”
as a mistake.” :
vave done so would have been a
ims but also of his vocation an@

ie would serve.

184

HOUSE_OVERSIGHT_010526
"
IMAGES-002-HOUSE_OVERSIGHT_013297.txt,"Paul Desmarais Sr., 86. The Canadian billionaire, who turned an
inherited fleet of buses into Power Corp. of Canada, an
insurance and financial services conglomerate. Died Oct. 8.

Scott Carpenter, 88. The second American to orbit the Earth, he
was one of the original seven astronauts in Project Mercury, the
first U.S. human spaceflight program. Died Oct. 10 of
complications from a stroke.

Wilfried Martens, 77. A former prime minister of Belgium, who
presided over nine governments from 1979 to 1992, deepening the
nation’s integration in the European Union while leaving a

legacy of debt. Died Oct. 10.

Wally Bell, 48. A Major League Baseball umpire for 21 years.
Died Oct. 14 of a heart attack.

Hans Riegel, 90. The German billionaire owner of Haribo GmbH, a
candy maker started by his father, whose best-known product is
the Gummy Bear. Died Oct. 15 of heart failure.

Peter A. Levy, 77. He followed the path of his father, Gustave

Levy, becoming a partner at Goldman Sachs, until departing to
co-found investment funds, including Harmony Capital Management
LP, a New York-based fund of private-equity funds. Died Oct. 18

of cancer.

Tom Foley, 84. He was a Democratic congressman from Washington
State from 1964 to 1994 and rose to speaker of the House. Died
Oct. 18 of pneumonia following a series of strokes.

Sally Dawson, 39. A British-born banker who spent 17 years at
the London office of Deutsche Bank AG, specializing in high-
yield and distressed-debt sales. Died Oct. 18 of cancer.

C.W. “Bill” Young, 82. A U.S. representative from Florida, he

was the longest-serving Republican in Congress and an advocate
of military spending. Died Oct. 18 of complications following
surgery.

HOUSE_OVERSIGHT_013297
"
IMAGES-001-HOUSE_OVERSIGHT_011638.txt,"response,” he said. “I’ve committed us. Ehud, I want you to check what can be
done. Take whatever you need, from wherever you want. Bring me suggestions
by seven tomorrow morning.” Then, he said, we would go brief the Defense
Minister, Shimon Peres.

I assembled a team the same way we’d prepared for special-operations
missions in the sayeret: looking for information, intelligence and above all
experience and insight from whoever I thought was likely to make that always-
narrow difference between failure and success. My first calls went to Mookie
Betzer and another of my most trusted and experienced sayeret comrades,
Amiram Levin. Then I brought in Ido Ambar, the personal aide to air force
commander Benny Peled, and Gadi Shefi, the commander of the Shayetet 13
SEALs. Finally, two officers from Dan Shomron’s office. Since Dan was
katzhar, in overall command of paratroop and infantry forces, it was critical to
keep him in the picture. I told them all that we’d be working through the night,
and that I had to be able to tell Motta and Shimon by the morning whether we
really could mount a rescue mission.

I still thought Pd end up having to tell them no. However difficult the
obstacles we’d faced with Sabena, they were almost child’s play compared to
getting a sayeret assault team 5,000 miles across the continent of Africa,
surprising the terrorists, freeing the hostages unharmed and getting them out.
That was even assuming, as I did at that point, that we wouldn’t face armed
opposition from the troops of Uganda’s increasingly tyrannical president, Idi
Amin. Amin had begun to align himself politically with the Palestinians in the
past few years — one reason, no doubt, the terrorists had landed there. But he
had actually been on a paratroop course in Israel before taking power in 1971.
We had sent officers to help train his army in the early 1970s.

Now, I discovered, Mookie himself had been on one of the training missions.
“Their men aren’t great fighters, at least at night,” he said, an insight of obvious
relevance to planning a commando attack, if we could get that far. When
Ambar, the air force aide, spoke up, I finally began to feel we might at least be
able to put together the outline of a plan. He’d brought with him a copy of the
standard reference book on world airports, which gave us at least a general idea
of the layout of Entebbe. He also said that the air force had run a training
program for the Ugandans. In Entebbe. He’d contacted one of the reserve pilots
who had been on the training mission, and he was on his way to join us.

Still, time was short we were nowhere near being able to recommend a
specific plan of action. The hijackers had set a deadline — noon on Thursday,

167
HOUSE_OVERSIGHT_011638
"
IMAGES-010-HOUSE_OVERSIGHT_030220.txt,"fr \] (/? a ON)
\\ Ww
La + nd SNE

joo tinal Pah Wii, -

>

On Sun, May 10, 2015 at 7:49 PM, Richard Kahn s Utst—<“isSSOSCiS wrote:

Please send photos. Thank you

Sent from my iPhone

> On May 10, 2015, at 6:07 PM, Brandon Thompson <> wrote:

>
> Dear Richard,

>

> We were expecting Mr. Epstein to come today and | was preparing presentation for him. Ann, the manager here called
me that there was change in schedule and Mr. Epstein is expected to come tomorrow early afternoon.

> For this presentation, | finished one column for him.

> This is not a regular work that | have done on it. Actually, | balanced the ""whites"" and ""darker"" rubbed off elements.
Further, | balanced shiny areas and matt.

> After doing this, | worked on differentiating darker areas, making them lighter and darker, depending on the location. |
did the same with ""whites"". Then | emphasized certain elements even more, like rope, net, crabs. This work requires

HOUSE_OVERSIGHT_030220
"
IMAGES-010-HOUSE_OVERSIGHT_029765.txt,"HOUSE_OVERSIGHT_029765
"
IMAGES-002-HOUSE_OVERSIGHT_013283.txt,"financial markets, lowering taxes and privatizing companies.
Died April 8 of a stroke in London.

Annette Funicello, 70. She was the most popular of the original
Mouseketeers on Walt Disney’s “The Mickey Mouse Club”
television show in the 1950s, then had a career as an actress
and singer. Died April 8 of complications from multiple
sclerosis, in California.

Robert G. Edwards, 87. A British physiologist, his research on
in-vitro fertilization led to the first test-tube baby, earning
him the Nobel Prize for Medicine in 2010. Died April 10.

George Schaefer, 84. As chairman and CEO of Caterpillar Inc.
from 1985 to 1990, he led the construction equipment maker from
losses to record profits. Died April 10 in Peoria, Illinois, the
company’s hometown.

Jonathan Winters, 87. The American stand-up comic, whose
improvisational humor, starting in the 1950s, inspired comedians
such as Robin Williams and Jim Carrey. Died April 11.

Maria Tallchief, 88. One of the premier U.S. ballerinas of the
20th century, and the wife of choreographer George Balanchine.
Died April 11.

Colin Davis, 85. The British-born principal conductor of the
London Symphony Orchestra from 1995 to 2006. Died April 14.

George Beverly Shea, 104. Known as “America’s Beloved Gospel
Singer,” he performed before more than 200 million people
during six decades with evangelist Billy Graham. Died April 16.

Pat Summerall, 82. The former NFL player, who teamed with John
Madden for 21 years to form one of the most popular broadcasting
pairings in television history. Died April 16.

Al Neuharth, 89. He built Gannett Co. into the largest U.S.

newspaper publisher and created USA Today, which became the
country’s biggest-selling daily paper. Died April 19 of

HOUSE_OVERSIGHT_013283
"
IMAGES-001-HOUSE_OVERSIGHT_010532.txt,"CHAPTER 50

secution agreement, a fifty-three-
sderal prosecutors had prepared
—one that claimed he'd abused
iever was filed.

mting Epstein’s victims were con-

ims were not consulted about the ~ :
is inexcusable. The “government j
‘in the dark’ so that it could enter q
ned to prevent the victims from ~ a
ould argue, in documents filed on a
onths, the lawyers claimed, from :
signed, on September 24, 2007, 5

in’s bidding, [had] concealed the |
” and continued to do so until the

Firtay Ricw

moment that Epstein had to plead guilty in court, which he
finally did June 30, 2008. .

In the interim, according to their lawyers, Epstein’s victims
were only told, “This case is currently under investigation.”

A lawsuit that Bradley Edwards, a victims’ rights attorney in
Fort Lauderdale, filed in July of 2008 cited the Crime Victims’
Rights Act, or CVRA (title 18, section 3771, of the US Code),
which states that “victims of federal crimes have rights, includ-
ing the right to be heard in court, and most particularly, not to
be precluded from court proceedings, and the right to be treated
fairly.”

According to him, prosecutors had violated the CVRA rights
of the victims. Edwards, who said he was working pro bono,
knew that this suit against the government would not allow for
monetary recovery of any sort (including lawyers’ fees). But he
also knew that if the government, urged by Jeffrey Epstein, had
entered into a contract that improperly or illegally violated the
rights of Epstein’s victims, then that contract, by nature, would
have been improper in and of itself—in which case, the only
temedy would have been to have the contract invalidated. And
while it is difficult to know what, exactly, would happen if the
contract is overturned, one possibility is that the government
could prosecute Epstein for crimes against his victims, if the

| Statute of limitations on those crimes has not expired.

At the time of this writing, that case is winding its way

_ through the courts. It has all the earmarks of a modern-day
| Bleak House—the Charles Dickens novel about a legal case that
“iS so massive and so complex that it drags on forever and drags

| everyone involved into the mire.

HOUSE_OVERSIGHT_010532

"
IMAGES-010-HOUSE_OVERSIGHT_030234.txt,"ACUITY Reputation Limited
23 Berkeley Square
London W1J 6HE

acuityreputation.com < <http://acuityreputation.com> http://acuityreputation.com>

Sent from my iPad

HOUSE_OVERSIGHT_030234
"
IMAGES-009-HOUSE_OVERSIGHT_027863.txt,"Chapter One

I am an Israeli, but also a Palestinian. I was born in February 1942 in British-
ruled Palestine on a fledgling kibbutz: a cluster of wood-and-tarpaper huts amid
a few orange groves and vegetable fields and chicken coops. It was just across
the road from an Arab village named Wadi Khawaret, which disappeared, with
the establishment of the State of Israel, when I was six years old.

As Prime Minister half-a-century later, during my stubborn yet ultimately
fruitless drive to secure a final peace treaty with Yasir Arafat, there were media
suggestions that my childhood years gave me a personal understanding of the
pasts of both our peoples, Jews and Arabs, in the land which each of us saw as
our own. But that is in some ways misleading. Yes, I did know first-hand that
we were not alone in our ancestral homeland. At no point in my childhood was I
ever taught to hate the Arabs. I never did, even when, in my years defending the
security of Israel, I had to fight, and defeat, them. But my conviction that they,
too, needed the opportunity to establish a state came only later, after my many
years in uniform, and especially when, as deputy chief-of-staff under Yitzhak
Rabin, we were faced with the explosion of violence in the West Bank and Gaza
that became known as the first intifada. And while my determination as Prime
Minister to find a negotiated resolution to our conflict was in part based on a
recognition of the Palestinian Arabs’ national aspirations, the main impulse was
my belief that such a compromise was profoundly in the interest of Israel: the
Jewish state whose birth I witnessed, whose existence I had spent decades
defending on the battlefield and which I was ultimately elected to lead.

Zionism, the political platform for the establishment of a Jewish state,
emerged in the late 1800s in response to a brutal reality. And that, too, was a
part of my own family’s story. Most of the world’s Jews, who lived in the
Russian empire and Poland, were trapped at the time in a vise of poverty,
powerlessness and anti-Semitic violence. Even in the democracies of Western
Europe, Jews were not necessarily secure. Theodor Herzl, a thoroughly
assimilated Jew in Vienna, published the foundation text of Zionism in 1896. It
was called Der Judenstaat. “Jews have sincerely tried everywhere to merge
with the national communities in which we live, seeking only to preserve the
faith of our fathers,” he wrote. “In vain are we loyal patriots, sometimes super-
loyal. In vain do we make the same sacrifices of life and property as our fellow
citizens... In our native lands where we have lived for centuries, we are still
decried as aliens.” Zionism’s answer was the establishment of a state of our

15
HOUSE_OVERSIGHT_027863
"
IMAGES-001-HOUSE_OVERSIGHT_012325.txt,"—

Oo ON A HW KR WN

NNN NN N BOB BB RB ew BB BB BE
wm fF WN FP CO YO AN DMV RW NY FP FD

2007-04-25 | a
42

A. No.

Q. Did he give any of your friends that you
brought gifts?

A, Yeah, the girl who died, He gave her
a bathing suit, too, from Brazil.

Q. we have some telephone numbers that we wanted
to ask you about.

BY AGENT RICHARDS:

Q. Just to see if you recognize these or if you
ever used any of these numbers that might have been old
telephone numbers for you at some point. I don't know
how many cell phones you may have had through the years.
See if you recognize any of those.

A. a 2; my number.

BY MS. BILAFONIA:

Q. what was Qs number?

A. Es?

Q. Yeah.

A. What, my baby's father?

Q. Yeah.

A. Oh, I never knew his. Always I just, you know,
calted him and I never knew his number.

BY AGENT RICHARDS:
Q. It was programmed in your phone?

A. Yeah. So I don't know. I just know

Page 44

HOUSE_OVERSIGHT_012325
"
IMAGES-008-HOUSE_OVERSIGHT_024923.txt,"From: paul krassner [ie

Sent: 5/15/2019 12:17:32 AM

To: George Krassner |S : nick kazan |); Vrisman02 i
Rebecca Risman [iE -(indaW. Grossman |

Subject: rather long and a few typos

REMEMBERING CAVALIER MAGAZINE
LAUNCHING A MAGAZINE

My friend Michael Simmons, who has been the editor of National Lampoon and High
Times, observes that Cavalier hired fine scribes. A few examples: Thomas Pynchon, Philip Roth,
William Saroyman, Isaac Asimov, Theodore Sturgeon. Cavalier was launched by Fawcett

Publications in 1952.

Men’s magazine Cavalier (motto: “For the American Male”) was published the year
before Playboy to whom it has often been compared, and back in the day tried to be seen as
slightly hipper, more youthful and considered a bit more clever than its big name rival. Almost
an anti-establishment Playboy. A slogan stated: “Your dad bought Playboy, you

bought Cavalier.”
I BECAME A COLUMNIST

I was invited to write a column, named “The Naked Emperor,” for Cavalier, that was beginning
to publish underground writers and artists. They paid me $1,000 a month. My first column was a
report on an auction of two-inch squares from the hotel bedsheets slept on by the Beatles during

their first trip to America.

There were 300 screaming young girls, off on a fetishist’s holiday. Obviously, there wouldn’t be
enough items to go around, but it was announced that the Beatles’ unwashed towels and bed
linens were to be cut into two-inch squares and sold for $1 each. The price included a notarized

statement of authenticity.

HOUSE_OVERSIGHT_024923
"
IMAGES-004-HOUSE_OVERSIGHT_017872.txt,"IN RE TERRORIST ATTACKS ON SEPTEMBER 11, 2001

807

Cite as 349 F.Supp.2d 765 (S.D.N.Y. 2005)

Defendants either dispute the manner in
which they were served or were not served
in the United States. Accordingly, the
Court must consider an alternative basis
for personal jurisdiction.

[43] If the New York long-arm statute
or the ATA does not establish personal
jurisdiction, the Court will engage in a
Rule 4(k)@) analysis. Rule 4(k)(@) states:

If the exercise of jurisdiction is consis-

tent with the Constitution and laws of

the United States, serving a summons or
filing a waiver of service is also effective,
with respect to claims arising under fed-
eral law, to establish personal jurisdic-
tion over the person of any defendant
who is not subject to the jurisdiction of
the courts of general jurisdiction of any
state.
Fed.R.Civ.P. 4(k)(2). Rule 4(k)@) “fill[s] a
gap in the enforcement of federal law” for
courts to exercise personal jurisdiction
over defendants with sufficient contacts
with the United States generally, but in-
sufficient contacts with any one state in
particular. Fed.R.Civ.P. 4(k)@) advisory
committee’s note; United States v. Int'l
Bhd. of Teamsters, 945 F.Supp. 609, 616-
17 (S.D.N.Y.1996). For jurisdiction under
Rule 4(k)(2), there must be a federal claim,
personal jurisdiction must not exist over
the defendant in New York or any other
state, and the defendant must have suffi-
cient contacts with the United States as a
whole such that the exercise of jurisdiction
does not violate Fifth Amendment due pro-
cess. Int'l Bhd. of Teamsters, 945 F.Supp.
at 617.

a. Purposefully Directed Activities

Theory

Personal jurisdiction based on Rule 4(k)
requires minimum contacts with the Unit-
ed States to satisfy Fifth Amendment due
process requirements. Plaintiffs claim
these requirements are met because De-

fendants purposefully directed their activi-
ties at the United States. Burger King v.
Rudzewicz, 471 U.S. 462, 472, 479, 105
8.Ct. 2174, 85 L.Ed.2d 528 (1985) (explain-
ing jurisdiction is appropriate if defendant
“purposefully directed his activities at resi-
dents of the forum and the litigation re-
sults from alleged injuries that arise out of
or relate to those activities” and finding
minimum contacts existed since dispute
arose from a contract with substantial con-
tacts with the forum) (internal quotations
and citations omitted); Calder v. Jones,
465 U.S. 783, 789, 104 S.Ct. 1482, 79
L.Ed.2d 804 (1984) (finding personal juris-
diction appropriate over non-resident de-
fendants who “expressly aimed” intention-
ally tortious conduct at residents of forum
state, even where defendants were never
physically present in forum); see also Da-
ventree, 349 F.Supp.2d 736 at 762-63, 2004
WL 2997881, at *22 (finding exercise of
personal jurisdiction under Rule 4(k)(2) is
appropriate if defendants “purposefully di-
rected their activities at residents of the
forum, and the litigation results from al-
leged injuries that arise out of or related
to those activities”). Pursuant to the hold-
ings in Burger King, Calder, and three
recent terrorism cases—Rein v. Socialist
People’s Libyan Arab Jamahiriya, 995
F.Supp. 325 (E.D.N.Y.1998), Daliberti v.
Republic of Iraq, 97 F.Supp.2d 38 (D.D.C.
2000), and Pugh v. Socialist People’s Lib-
yan Arab Jamahiriya, 290 F.Supp.2d 54
(D.D.C.2003)—Plaintiffs submit that the
moving Defendants knew that the primary
target of Osama bin Laden’s and al Qae-
da’s campaign of terror was the United
States and that by providing assistance to
these terrorists, who Plaintiffs claim were
Defendants’ co-conspirators, Defendants
aimed their conduct at the United States.

In Rein, the court denied defendants’
motions to dismiss for lack of subject mat-
ter and personal jurisdiction in a case aris-

HOUSE_OVERSIGHT_017872
"
IMAGES-011-HOUSE_OVERSIGHT_031563.txt,"From: Starr, Ker i |

Sent: 8/22/2018 7:17:35 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Jed Rubenfeld

Importance: — High
Wise counsel. Thx!
Sent from my iPhone

On Aug 22, 2018, at 1:49 PM, jeffrey E. <jeevacation@gmail.com> wrote:

I think scholarly but not too much so. no one above the law.. we began leaving a kingdom. . unlikely to
give king like powers to a president. on one above the law. I would like lunch pail joe to come away and
think , this guy is smart .I understood. lets see what he writes about the clintons.

someone suggested that trump could shoot someone on fifth avenue and not lose a vote. that is true , but
would make little sense for him not to suffer an immediate consequence. the allowed civil depo setting
precedent for criminal process , is a lawyers outline I might think of dumbing it down, again , and suggesting
that you can sue your neighbor , even if you neighbor is the president. makes little sense that the you can be
indicted for assaulting him but he cannot ifhe assaults you. low bar for civil higher bar for criminal. . at
some point on your book tour I might point out how disappointed you were that the clinton and betty curries'
trashcan story , was reopened. .

On Wed, Aug 22, 2018 at 2:08 PM, jeffrey E. <jeevacation@gmail.com> wrote:
i vote yes as it makes you relevant to today rather than merely re- reciting an old tale. :) or tail?

On Wed, Aug 22, 2018 at 12:07 PM, Starr, Ken <> wrote:
Can you talk? Impt. PF

Sent from my iPhone

On Aug 17, 2018, at 9:18 AM, jeffrey E. <jeevacation@gmail.com> wrote:

thx

On Fri, Aug 17, 2018 at 10:14 AM, Starr, Ken {> wrote:
Good morning!

Jed teaches crim law at Yale. Outspokenly strong on the need for procedural fairness in campus adjudicatory
proceedings. Relevant to your friend’s unhappy situation? Ifso, happy to make the connection.

Hugs, Ken

Sent from my iPhone

please note

HOUSE_OVERSIGHT_031563
"
IMAGES-011-HOUSE_OVERSIGHT_031205.txt,"JEFF EPSTEIN IS NOT IN FEDERAL PRISON ONLY BECAUSE JEFF EPSTEIN IS HOLDING TH

E ABOVE PICTURES !!!!!!

THANK YOU SIR

TRUMP SUPER PAC
GET OUR JOBS BACK INC . COM

STEVEN HOFFENBERG CEO

Steven J. Hoffenberg
New York Post Publishing INC.
CEO

WHAM INC THE PUBLIC COMPANY OWNS THE BELOW OPERATIONS

TOWERSINVESTORS.COM
CEO

SEE

WWwW.POST PUBLISHING.BUZZ THE JESUS CHRIST ON LINE GODs WORD NEWSPAPER

MR HOFFENBERG ONLINE NEWSPAPER
PUBLICSPEAKINGWALLSTREET.COM

HOUSE_OVERSIGHT_031205
"
IMAGES-001-HOUSE_OVERSIGHT_012443.txt,"- Ww NWN

BY MR. T

BY MR. T

up on th

~0929104.TXT
56

has been marked for identification yet.
EIN:
0. i

MR. LEOPOLD: Hold on just a second. Just
so the record is clear --

MR. TEIN: I'm not speaking to you.

MR. LEQPOLD: Okay. Then don't speak to me
then. But |'!! speak to Mr. Goldberger, perhaps.

But at least for the record, can we put on
the record what the previous two photographs were
marked for identification?

MR. GOLDBERGER: We wil! make sure that the
record is clear at the end of the deposition so
that there's no ambiguity.

MR. LEOPOLD: Thank you.

EIN:
Q. | |'ve put a photograph marked 18-001

e screen. Do you see that?

A. Yup.

Q Who is that in the photo?

A on the left and me on the right.
Q. right?

A Yes.

Q FY your friend at the

that the

subpoena

57
A. Yes.
Q. Pe your friend, who you say the day
process servers went to serve you with a

for this deposition, just happened -- just by
Page 48

HOUSE_OVERSIGHT_012443
"
IMAGES-008-HOUSE_OVERSIGHT_025383.txt,"Is Invitation: No

ft

GUID: 95CE61EE-DC7E-4780-A711-8057EE5D6A7D

Message: And writer would use a legal or family cutout.

Sender: e:jeeitunes@gmail.com

Time: 09/09/18 11:10:19 AM (558209419)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: D5554304-C60C-49C4-AB43-4385575FC6CD

Message: So they could answer. I didn't write it

Sender: e:jeeitunes@gmail.com

Time: 09/09/18 11:10:42 AM (558209442)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 98AFDD1IC-6C61-4F15-884A-O08EB47CFABD5S

Message: Without committing perjury

Sender: e:jeeitunes@gmail.com

Time: 09/09/18 11:12:42 AM (558209562)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 84638D52-E4A2-41FF-8967-1F9B7728A5BF

Message: And you would have to have prepared a serious defense strategy . Powerful
legal advice etc

Sender: e:jeeitunes@gmail.com

Time: 09/09/18 11:23:06 AM (558210186)
Flags: 1085445
Is Read: No

Is Invitation: No

GUID: 30B6FD0C-7367-4E0E-B50 9-AE6232C47016

Message: Not to put too much emphasis. But they say they relied on the trusted
intermediary. 2? you wouldn't have to do that if you met the official? It says the
author not the person ? And testimony

Time: 09/09/18 11:36:27 AM (558210987)

Flags: 1060865
Is Read: Yes

Is Invitation: No

HOUSE_OVERSIGHT_025383
"
TEXT-002-HOUSE_OVERSIGHT_033262.txt,"From: Richard Kahn 
Sent: 12/5/2017 12:02:43 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Mueller Subpoenas Trump Deutsche Bank Records 
Importance: High 
https://www.bloomberg.com/news/articles/2017-12-05/deutsche-bank-is-said-to-have-received-subpoena-on-
client-trump  
Richard Kahn 
HBRK Associates Inc. 
575 Lexington Avenue, 4th Floor 
New York, NY 10022 
HOUSE OVERSIGHT 033262 
"
IMAGES-005-HOUSE_OVERSIGHT_020329.txt,"177

that could be hacked into from the outside. It will be recalled that the NSA threat officer had cited
these failures in his 1996 report on NSA vulnerability. He also said that efforts of the Russian
Intelligence Services to use false flag recruitments provided the KGB with “a learning
experience.” The KGB had learned that hacking by itself could not breech the NSA’s protective
stove-piping. He predicted that its next logical move would be to “target insider computer
personnel.” These false flag recruitment would aim at, in his view, system administrators,
computer engineers and cyber service workers who were either already inside the NSA or who
had a secrecy clearance that would facilitate getting jobs with NSA contractors.

Even with an appropriate false flag, the task of finding such a “Prometheus” was daunting.
There were some five thousand civilian technicians at the NSA of all political stripes. Finding the
one who met its espionage requisites was the equivalent of seeking the sharpest needle in the
proverbial giant haystack. For espionage purposes, however, recruiters did not have to find the
sharpest needle, or any particular one; they just needed to find any needle in a position to
cooperate. They could hone a willing recruit over time to do the job at hand.

The size of the haystack could also be reduced to more manageable proportions by hacking
into the personnel records of the intelligence workers seeking to renew their security clearance.
The Internet provided the SVR with just this opportunity. As discussed in the previous chapter,
holes in the security of the computer networks of the US Office of the Office of Personal
Management, USIS and the websites of the companies supplying the NSA with independent
contractors had made the background checks on American intelligence workers available to the
Chinese and presumably other adversary intelligence service hackers since 2011. If the SVR had
access to this personnel data, the research for a candidate would be greatly facilitated. From the
127-page standard form 86 each applicant for a security clearance submits, the SVR could filter
out intelligence workers employed by the NSA by their educational background, employment
history, affiliations and foreign contacts. It could then search this data for candidates with a
possible hacktavist profile,

This data could next be crossed with a list of individuals SVR in contact with high-profile
activists who are part of the anti-surveillance movements. This would include core participants in
the TOR project, Wikileaks, Noisebridge, Crypto Parties, and the Freedom of the Press
Foundation and the Electronic Freedom Foundation. (Snowden, for example, had been in touch
with members all these groups in 2012 and 2013.)

The SVR would have little problem monitoring even encrypted communications with leading
figures in the Anti-surveillance world. These activists, despite secrecy rituals such as putting
their cell phones in refrigerators, remain visible to a sophisticated intelligence service such as the
SVR. Consider, for example, the defensive tactics of Laura Poitras, including PGP encryption,
TOR software, and air-gapped computers which are computers that have never been connected to
the Internet. She also famously changes her tables at restaurants to evade surveillance. With all
these precautions, she did not keep secrets about her sources entirely to herself. Snowden, at a

HOUSE_OVERSIGHT_020329
"
IMAGES-010-HOUSE_OVERSIGHT_029003.txt,"From: se

Sent: 9/17/2016 12:04:41 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
Thank you for the sweatshirts. The thought was very sweet. Next time you send a gift don't put any initials on it
so when I regift it no one will suspect. Also in the future think jewelry. You didn't misunderstand. With you I

never know what your plans are so since I didn't hear a confirmation from you or your assistant I assumed
your plans had changed and you weren't able to do dinner. Just like the Paris trips :-).

Sent from Soon-Yi's iPhone @

On Sep 17, 2016, at 7:54 AM, jeffrey E. <jeevacation@gmail.com> wrote:

no problem , I thought you told me that you had moved krause so that you could come sunday. . i must have
misunderstood. . the sweatshirts were given to a few world leaders yesterday, so i thought you two should
also have some. .

On Sat, Sep 17, 2016 at 7:51 AM, <q wrote:

We already have plans on Sunday as IJ didn't hear from you. I don't think I can change them.

Sent from Soon-Yi's iPhone @

On Sep 17, 2016, at 6:50 AM, jeffrey E. <jeevacation@gmail.com> wrote:

trumps guys changing their plans. all at the trump hotel right down the street from the white house. its a
bad movie. president trump. down the street from trump hotel. deepak chopra , again, sunday , I know
you moved krause to tonight. .

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

HOUSE_OVERSIGHT_029003
"
IMAGES-002-HOUSE_OVERSIGHT_012823.txt,"On April 16, 2007, Cho dressed up in army fatigues. He left his dormitory and killed 32 people
and wounded 25 others with a semi-automatic Glock 19 pistol filled with hollow-point bullets, designed
to cause more tissue damage than traditional bullets. Cho then shot himself in the temple, ending his life
and the Virginia Tech massacre.

Cho’s case provides a horrifying example of how fantasies of violence can lead to real life
enactments and a trail of blood. It also provides a counter-example of the catharsis view: Cho’s fantasies
about violent revenge did not make him feel better. It made him feel worse and more violent — a pattern
supported by dozens of studies.

Normally raised children as young as seven years old are more likely to act aggressively toward
their peers if they are self-absorbed in a world of aggressive fantasy, and this 1s especially the case for
children who witnessed violence or were subjected to it. Adult men and women are more likely to crave
violence after reading an argument in favor of the cathartic magic of violent fantasies than after reading a
manifesto against catharsis. Men who engage in aggressive sexual fantasies are more likely to engage in
aggression, but only if they are narcissists. Men who engage in deviant sexual fantasies are more likely to
enact these fantasies, but only if they exhibit signs of psychopathy. Psychopathy and narcissism are like
Siamese twins, inseparable. What these studies show is that those who are self-absorbed and play with
violent or sexual fantasies, are most likely to take these imaginary worlds onto the real world stage.

Further evidence of the connection between violent fantasies and violent actions comes from
studies by the German psychologist Thomas Elbert who studied child soldiers brainwashed into joining
the ranks of the Lord’s Resistance Army, Northern Uganda’s rebel group. Since its inception in 1987, the
LRA has recruited 25-65,000 children, starting with boys and girls as young as 10-12 years old. In
detailed interviews and analyses of now retired child soldiers, Elbert discovered that those who had more
experience with killing developed stronger, appetite-driven fantasies of killing, a hunger that had to be
fulfilled by real killing. As one ex-child soldier noted “The more we killed, the more we acquired a taste
for it. If you are allowed to act out this lust it will never let you go again. You could see the lust in our
greed popping eyes. [...| It was an unprecedented pleasure for everyone.” Not only was fantasy converted
into killing, but the more they killed, the less they experienced any trauma in later life. Unlike the droves
of veterans who have been returning from Iraq and Afghanistan, and suffer from post-traumatic stress
disorder or PTSD, these child soldiers developed an immunity. Many of the veterans from Iraq and
Afghanistan had no interest in killing, and deemed the war unnecessary. In contrast, these child soldiers
were brain washed into believing that killing was necessary, and a sign of importance. Killing that is
justified is rewarding, whether the justification is real or the product of self-deception. When self-

deception joins the fray — as I further develop in chapter 3 — killing is not only rewarding but virtuous.

Hauser Chapter 2. Runaway desire 77

HOUSE_OVERSIGHT_012823
"
IMAGES-003-HOUSE_OVERSIGHT_014833.txt,"Lupe

Horie CHEF

et

Ever Wondered Why Donald Denver: This Meal Service is
Trump Doesn't Talk About His = Cheaper Than Your Local Store
Daughter Tiffany? Here's Why = How :

21* Secrets About Air Force
ne That Onty The President
Knows.

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Guillaume Conet

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On top ofthe wortd!
Elisabetta Canalis wows.
in her new swimwear
lina whh she help of one
of Los Angeles’ most
famous homes

Tenge Chimneys ae

b Gewnton Abbay's ¥
Laura Garmichaelloaks jy
funky in feral sweater os |
fhe cozleeup te ax eo-
sar Dan Stevens for
Beauty and The Beast
fashton launch

* Holly Madison purs on
avery busty display as
she joins star-studded = Ea
grand openingef TAO = Eo
Hollyweed development
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qu

} Paris and her prom
dare! Jackson Is all
smiles as she walks
hand-in-hand with BFF
Melissa Lauren who she
Took 00 last year’s Tormal
dance

b This Is Us co-stars:
Mandy Meera ana
Chrissy Metz light ue red
carpet in contrasting
outfits at Beverly HIlls

tu
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sre DeSmind

} Robin Thicke picks up
son Julian accompanied

by gintrlend April Love
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} Hats off to her!

Frincess Anne's
daughter Zara Tindall
makes an elegant
appasrance in blue at
Cheltenham for the
FOURTH day ina row

* Shouldn't thas be &
Guinness? Prince
Charles shuns
traditional St Patrick's
Day tine for a plnt of
ala 2s he visits a brewery
Ih Willtshire

 Miske way fer the minis!
Kata Holmes flaunts her
lean legs in plush dress
ag Halley Baldwin
sparkles in sequins at
Star-Studded opening of
TaO in La

* Kylim Jenner proudly
Shows off her bling on
Snapchat... just befara
Kendall had $200k worth
of jewalry stelen

| Gasca ie tel al onesie ee
fings

PWe're all wery excttecl"":
Jessica Hall of Kendra:
On Top reveals sine 1s
ga pacting baby number
‘twe with huskand
Fregnant by her husband
Kye Cl

) Hugh Jackman wraps
up in putfa Jacke: as he
braves the chilly New
York Clty weather te tHliv
The Greatest Showman
one oT Haliwoced s
al Soleo

F SPOILER ALERT:
Gray's Anstemy's OF
Apnl Kepner enjoys
rendezvous with Or
Jackson Avery in malor
‘twist

Lramste develop mert

* Letting |e all hang out!
Coce Austin dances in
lew-eur anil peter
jumpsuit at $2 Patriek's
Day party

Flunaing nt hlins rovcaice
fer c Isai

} Dancing With The Siors
Bre Anna Trebunskays
reveals sha is expecting
baby nuriber two with
boyiriand Nevin Millan
Shower at her tet

F'Lat's do it"" Rachel
Lindsay sparkles in
behind the scenes shots
shared by The
Bachelorette creator
Nike Flaiss

HOUSE_OVERSIGHT_014833
"
IMAGES-001-HOUSE_OVERSIGHT_011162.txt,"than 30 years in human populations. For example, 7 = 28.9 in the 1906 population of Taiwan [11].
Thus, if p ~ 0, selection should favor long-term interest rates that average (In 2)/28.9 = 0.024 per
year, in reasonable agreement with observation.

These results are identical to those of my earlier paper on time preference [15, Eqn. 12], and
extend those results to the more general context in which selection acts via fertility as well as
mortality.

2.3. Diminishing marginal returns to consumption

I now introduce the standard assumptions of economic analysis: that consumption helps in some
sense and that each successive unit of consumption helps less than the last. In the present context,
this will mean both that m(x) and P(a) each increase with consumption, and also that marginal
effects decline as consumption increases.

Although these assumptions are unremarkable in economics, they may seem problematic here.
Eating too much can be bad for you, and animals on restricted diets often seem to live longer than
those with unrestricted access to food [7, Sec. 10.3.1]. Yet this is no real cause for skepticism:
food is just one of many consumer goods, and wealthy people do live longer than poor ones.

To capture the diminishing marginal effect of consumption, I will assume that

m(z,k) = m*(x)K°

P(a,k) = Px (a)KP

where 0 < a, @ < 1, and attention must be restricted to to parameter values such that P stays within
the interval [0,1]. Here m*(x) and P +‘) are, respectively, the fertility and survival probability of
a “standard” individual of age c—one who consumes a single unit of resource.

To justify this particular formulation, I appeal to the data in figure 4. There, the vertical axis
measures the variation of age-specific fertility across populations, and the horizontal axis measures
mean age-specific fertility. The graph shows that fertility is most variable at age classes where
fertility is high. At least some of this variation must reflect variation in consumption. Thus, it is
sensible to build a model in which the effect of consumption is greatest on age classes with high
fertility.

Marginal fertility and survival become

Ti, = —m(c, K) (11)
~ Powe.
Pe = —P(e,k) (12)
and the MRS in fitness is ,
pr (4) 1 —v)POy® (2)
MRS» = (< ) ye +(1— 7)PYv K (13)
r ym + (1 = y)PQy@ ] \ 6

where ‘y = a/(a + 3) measures the importance of marginal fertility relative to marginal survival.

3I need to repeat this exercise with survival data.

HOUSE_OVERSIGHT_011162
"
IMAGES-005-HOUSE_OVERSIGHT_020301.txt,"149

intelligence official who later became involved in the case, the assignment involved preparing
these agents to service a potential source in the NSA at Fort Meade, Maryland. If true, it
suggested that Russian intelligence either had found or was working on a means of penetrating
the NSA.

In 2010, the NSA’s “Q” division handled such security and espionage threats. It reportedly
initiated a counter-espionage probe at the NSA’s Fort Meade headquarters on receiving the tip.
But since the NSA’s cryptological service had in 2010 no fewer than 35,000 military and civilian
contractor employees, the search for a possible leak was no easy matter. According to a
subsequent note in the NSA’s secret budget report to Congress, it would require “a minimum of
4,000 periodic investigations of employees in position to compromise sensitive information” to
safely guard against “insider threats by trusted insiders who seek to exploit their authorized access
to sensitive information to harm U.S. interests.” According to a former executive in the
intelligence community, that amount of investigations far exceeded the budgetary capabilities of
the NSA. So while the investigation found no evidence of SVR recruitment, it remained possible
that Russian intelligence had found a candidate in the NSA.

Meanwhile, in June 2010, to pre-empt such a leak in US intelligence and avoid any potential
embarrassment that could result, the FBI decided it could no longer engage in this sort of an
intelligence game with the sleeper network. It arrested all 12 sleeper agents identified by Poteyev.
After receiving a great deal of public attention (which led to them inspiring the FX series: The
Americans,”’), the sleeper agents were deported back to Russia. This move had both advantages
and disadvantages. The main advantage was that it severed any communication link between the
putative person-of-interest in the NSA and Russian intelligence via the sleeper agents. The main
disadvantage was that it eliminated the possibility that FBI surveillance of the illegals might lead
the FBI to a possible recruit in the NSA or elsewhere.

The pre-emptive arrests also had an unforeseen consequence. They resulted in accidently
compromising the CIA’s own mole, Poteyev. In entrapping Anna Chapman, who was one of the
more active of the sleeper agents, the FBI agent had used a password to deceive her into believing
she was speaking to a SVR officer (when in fact she was speaking to an FBI agent who was
impersonating one.) That unique password had been personally supplied to her by Poteyev. So
Chapman had reason to believe Poteyev had betrayed her,

When Chapman returned to Moscow after the spy exchange, she was taken to a well-
publicized dinner with Putin. Afterwards, she informed her debriefer at the SVR that only
Poteyev had been in a position to know the password that the FBI agent used. This brought
Poteyev under immediate suspicion. Tipped off by the CIA to the FBI’s error, Poteyev managed
to escape by taking a train from Moscow to Minsk in Belarus. The CIA next exfiltrated him out
of Belarus and to the United States. Poteyev had been saved from prison—or worse, but he was
no longer useful to the CIA as a mole. Without the services of Poteyev in the SVR in Moscow,
US intelligence was unable to find out further details about the mission to which Poteyev’s sleeper

HOUSE_OVERSIGHT_020301
"
IMAGES-005-HOUSE_OVERSIGHT_019580.txt,"92 | HOW AMERICA LOST ITS SECRETS

evidently set off alarm bells at Booz Allen and the NSA. Snowden
expressed anger to the journalists in the room at the NSA’s intru-
sions on the privacy of his girlfriend.

Snowden also performed his security procedures on camera,
including stuffing bed pillows under the door to block any eaves-
droppers and throwing a red blanket over his head, which he called
jokingly his “magical cloak of power.” He explained to Greenwald
that he donned his “cloak” when he turned on his laptop to prevent
any hidden cameras in the room from spotting his password. He also
checked the hotel phone for bugs. It was not without irony that he
went through these security rituals to protect his data as he allowed
Poitras to film NSA data on his computer screen. Because he planned
to use these journalists as his outlets to go public in a few days, the
security measures he performed while on camera would only serve
a temporary purpose.

The centerpiece of the planned video would take the form of an
interview with Greenwald. Snowden himself provided the talking
points. The filming would eventually provide Poitras with a feature-

® length documentary, Citizenfour, which would be commercially ©
released in October 2014 and win an Academy Award for her.

The next day, Ewen MacAskill, whom Poitras had not wanted
Greenwald to bring to the initial meeting, joined Poitras and Green-
wald in Snowden’s room. Snowden insisted that MacAskill also go
through the ritual of stowing his cell phone in the minibar refrigera-
tor. Not without irony, Snowden’s own phone can be seen on his bed
recharging. Although MacAskill was sent by Gibson to the event to
verify the source’s bona fides, he had apparently hardly been briefed.
The questioning went as follows:

MACASKILL: Sorry, I don’t know anything about you.

snowpen: OK, I work for—

MACASKILL: Sorry, I don’t know even your name.

snowben: Oh, sorry, my name is Edward Snowden. I go by Ed.

MacAskill went on to ask him to enumerate the various positions
he held during his career in intelligence. Snowden was not entirely

| | Epst_9780451494566_2p_all_r1.z.indd 92 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019580
"
IMAGES-005-HOUSE_OVERSIGHT_018846.txt,"Marina Market Analysis 35

Of the comparable marinas in St. Thomas, Yacht Haven Grande is the most superior in terms of
location, quality and amenities. This marina is typically geared to extremely large vessels such as
mega-yachts. Crown Bay Marina is slightly inferior to Yacht Haven Grande, but is still superior to the
subject in quality and amenities. Sapphire Beach Resort, Compass Point and Oasis Cove are all
considered to be inferior marinas to the subject based on location, quality and amenities offered.
These marinas mostly cater to live-aboards and smaller vessels.

The most comparable properties are located in the British Virgin Islands (BVI). Nany Cay and Virgin
Gorda Yacht Harbor are slightly superior to Soper’s Hole, but they are all similar in quality and
amenities as the subject property. The location of the subject in St. Thomas, and its specific location
within St. Thomas, is considered superior based on convenience.

The majority of the subject’s wet slips (98 out of 105) allow for vessels less than 80’. In this size range,
the comparable marinas in St. Thomas range from $199.32 - $1,314 with an average of $578.38 per
linear foot. The comparable marinas in the BVI range from $419.75 - $912.50 with an average of
$587.65 per linear foot in this size range. The subject’s asking rates for this size vessel averages
approximately $565.75, which is slightly below average but reasonable.

IGY American Yacht Harbor Marina

HOUSE_OVERSIGHT_018846
"
TEXT-001-HOUSE_OVERSIGHT_026399.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 7/23/2016 10:20:08 PM 
To: Joscha Bach 
Subject: Re: Mechanisms for learning 
Importance: High 
the average is the only thing that matters 
On Sat, Jul 23, 2016 at 6:02 PM, Joscha Bach < 
_I> wrote: 
Am 23.07.2016 um 04:41 schrieb jeffrey E. <jeevacation@gmail.com>: 
Cells seem to be mostly indistinguishable (except for XX), I thought? 
Size is different on average, but males with small brains are still male. 
Variation of all traits is higher for males, so there are more high IQ men (wider bell-curve). Given average 
brain size difference, the small difference in average IQ is surprising, I think 
gender differenece. unlikely motivational, every cell is different. size is didfferent. . 
the more radical idea is that brains are the nucleus of the human"" cell: the body the membrane, the 
organizm the colletcions and interactions of brains, wisdom of crowds . mirroring. etc. . money used 
as signals. as is spoken language. . what does social behavior mean, it is the cooridiation of indiv 
brains. = 
I think that mathematics based thinking does not allow for censorship. money people concepts if they are 
all math , then poliiical correctness and their structures are only subsets of a larger group of thoughts. its 
not emotinal for me. 
most people have censorship built in at a deep level, social reasoning gets to different results than equivalent 
abstract reasoning 
On Sat, Jul 23, 2016 at 3:02 AM, Joscha Bach <______________________> wrote: 
Some thoughts I meant to send back for a long time: 
no worry, if i understand correctly you are suggsting there are layers 1 through N . lets cal them L 1 - 
Ln. there are times T 1- Tn / and then conjecture that changing the time . correlations ( by genetic swtch 
or other method. , you might be able to make blacks smarter by changing the time for motor layer 
development and changing the time for other layers. . ). like telemeres for the cell , are their equivalents for 
the layers. . as you talked about culling the unused neurons in each layer, each neuron in each layer would 
get dfferent ( kill yourself if you are not being used instructions ). 
HOUSE OVERSIGHT 026399 
Exactly. I looked up the statistics, black kids in the US have slower cognitive development (and never catch 
up), which the study of course attributed to social factors without any evidence, and they had faster motor 
development! I suspect this means their brains are slower at learning high-level concepts, because the low-
level structures are optimized for a shorter time. But they will keep the lead in motor development, because it 
is easier to learn, and they have more time and attention to practice once they get the structures in place. 
It could also be that they have an additional set of learning directives in place that adapts them better to a 
more hunting/running style of life, whereas the Europeans had to adapt for identifying long-term seasonal 
patterns, delayed gratification for agriculture etc. 
and CONCEPTS could be layer to layer communicaiton. . are gender differences also a matter of time, 
and structure of interactions. . 
I suspect gender differences are mostly motivational, i.e. we have a reward system for all the different social 
and cognitive needs, which makes us receive different kinds of pleasure and pain, thereby pay attention and 
learn. You cannot learn what does not attract your attention. Women tend to find abstract systems, conflicts 
and mechanisms intrinsically boring. Most women in computer science do not write programs because they 
enjoy solving puzzles, but because they want to help people, get approval etc. There are almost no women in 
math, because it does not help people or yield social attention. 
Men tend to find elaborate social relations boring. If there is no pleasure in observing and empathizing with 
people, one will not have good social cognition. 
IQ is not the only meaningful difference. Chinese pay an inordinate amount of attention to authority. I suspect 
historically., the authorities tended to kill them a lot if they did not. Jews tend be intellectually independent 
and anti-authoritarian, which might make them creative and inventive in ways that are hard to find in Asia. 
At the moment, I think speed/quality of brain development plus motivational system are the key to 
understanding both mind and individual differences. Important part of human language might be the result in 
a motivational need to discover/invent grammatical structure, which as a side effect makes us interested in 
music. 
It would mean that Chomsky's life long hypothesis, that people have a special circuit for grammatical 
language, is wrong. They might be GENERAL learners, just like Gorillas, but with a strong motivational urge 
to build grammatical structure, which the brain simply invents (there are only a few ways in which a natural 
language can work). That is much easier to wire into a brain than a specific circuit. 
i my self believe that african music, westrn music , chinese music are a window into the the structure of 
those layers. . western rigid, african primitve , chinese nature based, . I belive that synphoic movments 
best describe your layering, they open with a basic simple melody„ after it is learned, it is repeated and"" 
developed"" , inverted, distorted, related, etc. the development stage take a long time. then there is a 
recapitlaltion of the whole. and its inter and intra actions. . african musci has lots of beats. and little 
development. - no accident, it mirrors their learning process. 
Interesting question if music is somehow indicative of genetically defined prefs, but I am not sure. It could be 
path effects, starting in culture. 
re taboo 
HOUSE OVERSIGHT 026400 
, maybe climate change is a good way of dealing with overpopulation. . the earths forest fire. potentailly 
a good thing for the species 
Making having children expensive in terms of upbringing and missed opportunity (like in the west) is a more 
humane way. Environmental stress while leaving near rock bottom tends to lead people to have more 
children, because there is no missed opportunity, and high mortality requires more attempts at procreation. 
Humans are a hardy species, outside of focused famine events and wars only small fractions of any given 
population die. 
I suspect that strong reductions in population will come from large-scale failure of agriculture. The climate 
change itself with result in migration and wars, but most people will probably survive that. But who knows, I 
might be wrong. 
too many people, so many mass executions of the elderly and infirm make sense 
is the fundamental fact that everyone dies at some time .make it imporrisbole to ask so why not earilier. if 
the brain discards unused neurons, why shold socieity keep their equivalent 
The radical idea of treating individuals in a society as cells and the society itself as a well-organized organism 
is fascism, or course. Probably the most efficient and rationally stringent way of governance, if someone 
could pull it off in a sustainable way; and if it is aggressive and expansive, its efficiency makes it a virus that 
everybody will want to stomp out. Fascism makes romantic doo-gooders like me very uncomfortable (I 
visited KZ Buchenwald five times and it had a profound influence on me; we East Germans inoculated 
ourselves very thoroughly against fascism), and the general public will not be willing to consider it. 
I rather like the treatment Fascism gets in the Amazon Series ""The Man in the High Castle"", which explores 
what would have happened if the Germans and Japanese had won the war: A society that tries to function as a 
brutal and ruthlessly efficient machine, eliminating all social and evolutionary slack. It is very dark, but not a 
flat caricature of pointless evil for its own sake. Heinlein's late book ""Starship Troopers"" explores fascism, 
too, but unlike Philipp K Dick he does not see it as a form of insanity, but as the most desirable order. 
I find your ""political incorrectness"" very fascinating. In the beginning, I thought it is a form of costly 
signaling, but now I think you are simply entirely unconstrained in your thoughts. How did you manage in 
your youth? Did you get in trouble, or did you keep your thoughts to yourself? I wonder what kind of person 
you want to transform into. 
It was interesting to notice that at the Forbidden Research conference, nobody managed to say anything 
remotely out-of line. One large discussion group wanted to address the question of whether ""democracy still 
works"", and mostly expressed their disagreement with Trump. Ideology is like halitosis: easy to see in others, 
hard in oneself A speaker felt that the media ""stifle all criticism of Trump"", another wanted to remove ""men 
and Elon Musk from government"", and everybody strongly agreed that we need more diversity everywhere. 
I noticed some time ago that Joi has remarkable public communication skills. He picks controversial, insight-
laden topics, but sanitizes them by carefully replacing the parts of content that would divide his audience with 
symbolic messages that everybody can fill with their own content in a way that resonates with them. The non-
controversial parts will still be insightful. He manages to come across as very subversive, while rarely 
offending anyone (except the hard scientists, that miss hard substance). 
He also asks influential people and smart students or faculty to write parts of his essays and speeches for him. 
This invests them in his success, especially because he is going to reward and acknowledge them. Very few of 
his ideas are original, instead he is good at identifying and testing thoughts he reads or hears from others. 
HOUSE OVERSIGHT 026401 
I am still beset by the ruinous instinct that the goal of communication ought to be mutual understanding. Joi is 
right. Public communication is about reaching one's goals. 
Bests, 
Joscha 
On Sun, Jul 10, 2016 at 12:42 AM, Joscha Bach < 
Dear Jeffrey, 
> wrote: 
thank you for your support and encouragement, even where I fail. 
Sorry for being such an embarrassment today. I will spell out today's argument a bit better and cohesive 
when I get to it. Also, I should have recognized that the main point I tried to make would trigger Noam (who 
was as always very generous, patient, kind and humble on the personal level, even though he did not feel like 
conceding anything on the conceptual one). Almost all of Noam's work focused on the idea that humans have 
very specific circuits or modules (even when most people in his field began to have other ideas), and his 
frustration is that it is so hard to find or explain them. 
I found Noam's hypothesis very compelling in the past. I still think that the idea that language is somehow a 
cultural or social invention of our species is wrong. But I think that there is a chance (we don't know that, but 
it seems to most promising hypothesis IMHO) that the difference between humans and apes is not a very 
intricate special circuit, but genetically simple developmental switches. The bootstrapping of cognition 
works layer by layer during the first 20 years of our life. Each layer takes between a few months and a few 
years to train in humans. While a layer is learned, there is not much going on in the higher layers yet, and 
after the low level learning is finished, it does not change very much. This leads to the characteristic bursts in 
child development, that have famously been described by Piaget. 
The first few layers are simple perceptual stuff, the last ones learn social structure and self-in-society. The 
switching works with something like a genetic clock, very slowly in humans, but much more quickly in other 
apes, and very fast in small mammals. As a result, human children take nine months before their brains are 
mature enough to crawl, and more than a year before they can walk. Many African populations are quite a bit 
faster. In the US, black children outperform white children in motor development, even in very poor and 
socially disadvantaged households, but they lag behind (and never catch up) in cognitive development even 
after controlling for family income. 
Gorillas can crawl after 2 months, and build their own nests after 2.5 years. They leave their mothers at 3-4 
years. Human children are pretty much useless during the first 10-12 years, but during each phase, their 
brains have the opportunity to encounter many times as much training data as a gorilla brain. Humans are 
literally smarter on every level, and because the abilities of the higher levels depend on those of the lower 
levels, they can perform abstractions that mature gorillas will never learn, no matter how much we try to 
train them. 
The second set of mechanisms is in the motivational system. Motivation tells the brain what to pay attention 
to, by giving reward and punishment. If a brain does not get much reward for solving puzzles, the individual 
will find mathematics very boring and won't learn much of it. If a brain gets lots of rewards for discovering 
HOUSE OVERSIGHT 026402 
other people's intentions, it will learn a lot of social cognition. 
Language might be the result of three things that are different in humans: 
- extended training periods per layer (after the respective layer is done, it is difficult to learn a new set of 
phonemes or the first language) 
- more layers 
- different internal rewards. Perhaps the reward for learning grammatical structure is the same that makes us 
like music. Our brains may enjoy learning compositional regular structure, and they enjoy making 
themselves understood, and everything else is something the universal cortical learning figures out on its 
own. 
This is a hypothesis that is shared by a growing number of people these days. In humans, it is reflected for 
instance by the fact that races with faster motor development have lower IQ. (In individuals of the same 
group, slower development often indicates defects, of course.) 
Another support comes from machine learning: we find that the same learning functions can learn visual and 
auditory pattern recognition, and even end-to-end-learning. Google has built automatic image recognition 
into their current photo app: 
http://blogs.wsj . com/digits/2015/07/01/go o gle-mistakenly-tags-black-p eop le-as-gorillas-showing-limits-o f-
algorithms/  
The state of the art in research can do better than that: it can begin to ""imagine"" things. I.e. when the 
experimenter asks the system to ""dream"" what a certain object looks like, the system can produce a 
somewhat compelling image, which indicates that it is indeed learning visual structure. This stuff is 
something nobody could do a few months ago: 
http://www.creativeai.net/posts/Mv4WG6rdzAerZF7ch/synthesizing-preferred-inputs-via-deep-generator-
networks  
A machine learning program that can learn how to play an Atari game without any human supervision or 
hand-crafted engineering (the feat that gave DeepMind 500M from Google) now just takes about 130 lines of 
Python code. 
These models do not have interesting motivational systems, and a relatively simple architecture. They 
currently seem to mimic some of the stuff that goes on in the first few layers of the cortex. They learn object 
features, visual styles, lighting and rotation in 3d, and simple action policies. Almost everything else is 
missing. But there is a lot of enthusiasm that the field might be on the right track, and that we can learn 
motor simulations and intuitive physics soon. (The majority of the people in Al do not work on this, 
however. They try to improve the performance for the current benchmarks.) 
Noam's criticism of machine translation mostly applies to the Latent Semantic Analysis models that Google 
and others have been using for many years. These models map linguistic symbols to concepts, and relate 
concepts to each other, but they do not relate the concepts to ""proper"" mental representations of what objects 
and processes look like and how they interact. Concepts are probably one of the top layers of the learning 
hierarchy, i.e. they are acquired *after* we learn to simulate a mental world, not before. Classical linguists 
ignored the simulation of a mental world entirely. 
It seems miraculous that purely conceptual machine translation works at all, but that is because concepts are 
shared between speakers, so the structure of the conceptual space can be inferred from the statistics of 
language use. But the statistics of language use have too little information to infer what objects look like and 
how they interact. 
My own original ideas concern a few parts of the emerging understanding of what the brain does. The 
""request-confirmation networks"" that I have introduced at a NIPS workshop in last the December are an 
HOUSE OVERSIGHT 026403 
attempt at modeling how the higher layers might self-organize into cognitive programs. 
Cheers! 
Joscha 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
HOUSE OVERSIGHT 026404 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 026405 
"
TEXT-001-HOUSE_OVERSIGHT_031183.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 12/15/2017 7:51:34 PM 
To: Kathy Ruemmler__________________ 
http ://dailyc alien com/20 1 7/12/1 5/rep ort-feminist-lawyer-p romis ed-c ash-to-trump-sexual-harassment-
accusers/?utm medium=referral&utm source=idealmedia&utm campaign=dailycaller.com&utm term=68814  
&utm content=1  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 031183 
"
IMAGES-011-HOUSE_OVERSIGHT_032042.txt,"=

cnet.com / by Richard Nieva That includes videos that deny events
like the Holocaust or Sandy Hook shooting.

White House tells 2 ex-aides to defy
congressional subpoena

HOUSE_OVERSIGHT_032042
"
IMAGES-001-HOUSE_OVERSIGHT_011604.txt,"Barely two months after the ambush operation in south Lebanon, Black
September seized and murdered members of the Israeli team at the 1972
Olympics in Munich.

As soon as the news broke on the morning of September 5, I phoned Ahrahle
Yariv as head of military intelligence. “You need to send us,” I said. I tried to
persuade him that if it came down to an operation to free our hostages, Sayeret
Matkal offered the best hope that it would not end in a bloodbath. We had the
mind-set, the background, the training and now the experience. I also knew the
German military had no special-forces unit. ’'d have been even more worried if
I had known that German law barred the army from operating in peacetime.
That meant any use of force would be left to the police. Ahrahle told me it was
too early to say what involvement, if any, Israel might have. He’d get back in
touch with a decision when it came.

I called my officers together to begin planning. I decided to use the men who
had been with me for the Sabena mission, including Mordechai Rachamim. We
collated information from the stream of media reports from Munich and
assembled a rough idea of the layout of the building the terrorists had attacked.
As for the attackers, I said we had to assume there were at least half-a-dozen,
that they had not just AK-47s but grenades or other explosives. And that like the
Sabena hijackers, they would be prepared to die but hoping to live. All of that
turned out to be true. None of it, however, could alter the reply I got from
Ahrahle a couple of hours later. “We decided to send Zvika,” he said. Zvika
Zamir was the head of Mossad, and he would be going only as an observer. Any
operation against the terrorists would still be in the hands of German units.

The German police’s bungled attempt to end the ordeal was especially
painful because it was so predictable. I believe that if we had been there, at least
some of the eleven Israelis killed might not have lost their lives. The Germans
launched an ambush at a NATO airfield outside Munich, when the terrorists and
hostages were ostensibly on their way to board a flight for Cairo. We know now
that there was no properly co-ordinated plan. Too few police were deployed for
the operation. They were insufficiently armed, and they lacked relevant training
or experience. The result: a bloodbath. As a final insult to the memory of the
murdered Israelis, although the three surviving terrorists were jailed, the

133
HOUSE_OVERSIGHT_011604
"
TEXT-001-HOUSE_OVERSIGHT_029914.txt,"From: PETER MANDELSON 
Sent: 1/22/2011 3:00:54 PM 
To: jeevacation@gmail.com 
Subject: This is business develpt to diagnose illness 
Importance: High 
On 16 November 2010 18:34, Michael Greenberg <________________________I> wrote: 
Ben and Lord Mandelson: 
My late reply does no justice to my enthusiasm to follow up on our previous call and to your interest in the same. Apologies. 
A word of explanation about the past two weeks: 
• Financing: 
Am in the midst of a $8-10 mn financing 
In past two weeks have met potential investors in Toronto, Vancouver, DC, NYC, and Boston. 
Have in this time already closed approximately $2 mn, which is encouraging 
This pace will continue for another month or so until the financing is fully closed. 
• US DoD: 
Last week several of us took our prototype device to be demonstrated for the US military's Walter Reed Army Institute of 
Research (WRAIR). 
At the conclusion of a four-hour session our host, Colonel Colin Ohrt, MD, who is in charge of the relevant WRAIR program, 
called our device a game-changer. He would like to pilot our device in Tanzania, Cambodia, Kenya, and Thailand. Follow up is 
being arranged. 
Colonel Ohrt also separately evaluated our white paper on malaria elimination and expressed strong interest in also pursuing this 
project with Fio. 
Accompanying Fio for these meetings was General Richard Tubb, MD (retired last year from the US Air Force). Dick was Chief 
of the White House Medical Unit and physician to Presidents Clinton and Bush. 
• USAID 
Also last week we successfully demonstrated our device for USAID and the President's Malaria Initiative (PMI). Follow up is 
being arranged. 
Accompanying Fio for these meetings was Andrew Natsios, former head of USAID. 
For all the foregoing meetings our prototype device performed well. Exciting times. 
My trip to London has yet to be arranged and is dependent on financing events. In the meantime, I will happily travel to meet you 
in NYC. 
Attached is the White Paper on Malaria Elimination which Fio had written and invited several academic partners to join. Since the 
time the document was first drafted, we discovered an even simpler technical strategy based on our new prototype device and 
reinforced by our recent discussion with WRAIR. This simplification would result in field trials as early as next year, which is 
much sooner than in the attached White Paper. To accomplish this we would team up with WRAIR rather than some of the current 
academic partners in the paper. 
Best regards and wishes, 
HOUSE OVERSIGHT 029914 
Michael 
PS: Ben, any emails I've sent to Lord Mandelson always bounced back. Clearly I don't have the correct email address. Kindly 
forward this note to Lord Mandelson and forward his correct email address to me. Thanks. 
Michael M Greenberg 
(M) 
From_______________________________________________On Behalf Of Benjamin Wegg-Prosser 
Sent: November-08-10 10:08 AM 
To: Michael Greenberg 
Cc: Shlomit Dekel 
Subject: Re: GoToMeeting Invitation - Meet Now 
Hi Michael 
Just wondered if you had an update on things, we are keen to hear more. 
Best 
Ben 
On 27 October 2010 06:54, Michael Greenberg < > wrote: 
It was great to speak with you both. Am eager to follow up on all fronts mentioned. In transit since we spoke 
- will reply more fully tomorrow. 
Best wishes, 
Michael 
From: 
To: Michael Greenberg  
Cc:_____________________________________ 
Sent: Mon Oct 25 10:35:12 2010 
Subject: Re: GoToMeeting Invitation - Meet Now 
Michael, 
Thanks for your time on Friday, it was great to hear more about FIO, we are keen to hear more. 
In terms of follow up 
- we look forward to receiving the White Paper that you mentioned. 
- we will consider opportunities in Russia, principally via Rusnano, who we are in discussions 
with http://www.rusnano.com/Home.aspx?dummy=634236281106041875  
- you asked about Onexim, this is the principal investment vehicle for Prokhorov (think New Jersey 
Nets). He's reckoned to be the wealthiest man in Russia post-crisis. He is investing more in nanotech and 
green energy projects. 
HOUSE OVERSIGHT 029915 
- London meeting - please let us know dates when you might be coming through Europe. 
- NY meeting - we will update when we know more about plans to come to New York as we could also aim 
to meet there. 
Let's keep in touch and see where we get. 
Best 
Ben 
On 22 October 2010 20:08, Michael Greenberg - - wrote: 
Hello: 
If you would kindly click to this URL: https://wwwl.gotomeeting.com/join/526754137  
and follow the instructions, you will be able to view my laptop screen, on which I will be able to show 
you our corporate presentation. 
Sincerely, 
Michael Greenberg 
CEO, Fio Corporation 
Benjamin Wegg-Prosser 
Email:__________________ 
Skype: bweggprosser 
Mob: 
Mob: 
Mob: 
(UK) 
USA) 
RF) 
Benjamin Wegg-Prosser 
Email: 
Skype 
Mob: (UK) 
Mob: (USA) 
Mob: (RF) 
Benjamin Wegg-Prosser 
HOUSE OVERSIGHT 029916 
Email: 
Skype: 
Mob: (UK) 
Mob: I (USA) 
Mob: I (RF) 
Benjamin Wegg-Prosser 
Email: 
Skype: 
Mob: 
Mob: 
Mob: 
(UK) 
USA) 
RF) 
HOUSE OVERSIGHT 029917 
"
IMAGES-010-HOUSE_OVERSIGHT_029995.txt,"Range Rover thieves targeting Greenwich millionaires

There’s a “Range Rover ring” of thieves targeting the hedge funders and
other wealthy residents of Greenwich, Conn. The latest victims of the
alleged Range Rover crime wave are designer Tommy Hilfi...

MORE PAGE SIX

Phil Jackson, Joakim Noah meet with possible $70M deal
on table

ORLANDO, Fla. — Joakim Noah will meet Friday afternoon with his
hometown team in New York, and barring unforeseen circumstances, he
is expected to fulfill his childhood dream of playing for the Knicks.
Dialogue on contract numbers began officially betw...

MORE SPORTS

Owner of iconic Brooklyn pizza joint gunned down in hit job

The co-owner of iconic Brooklyn pizzeria L&B Spumoni Gardens was
shot to death in a targeted hit outside his Brooklyn home Thursday
night. Police found the slumped body of Louis Barbati, 61, at his home
on 12th Avenue in Dyker Heights at about 7 p....

MORE METRO

HOUSE_OVERSIGHT_029995
"
IMAGES-005-HOUSE_OVERSIGHT_020467.txt,"Introduction

HOUSE_OVERSIGHT_020467
"
TEXT-001-HOUSE_OVERSIGHT_022841.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 1/16/2015 8:12:46 PM 
To: Thomas Jr., Landon 
Subject: Re: How are you holding up? 
yes, but not if you own dollars. bitcoin collapse pound is the most overvalued of all' but its a tax 
haven. norwegina kroner weak. sfr ,dollar. only thing to own 
On Fri, Jan 16, 2015 at 3:56 PM, Thomas Jr., Landon < > wrote: 
that is old news -- buy dollar and take a nap? Kind of like buying Apple? 
On Fri, Jan 16, 2015 at 2:52 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
it is the begining world currencies are out of balance. brazil, etc 
On Fri, Jan 16, 2015 at 3:45 PM, Thomas Jr., Landon > wrote: 
I think the big issue is separating yourself from Andrew. I mean I can see why a statement might 
help in some way -- but its Andrew (not clinton and the rest) that is keeping the story alive. Until 
you are able to come forward and address that the story lives on. I mean in the end he had 
consensual sex with M. AndMworked for you. The rest is atmospherics. You have moved on! 
People don't know that and cant accept that unless you say as much. 
Does franc drama worry you? Am writing on it now... 
On Fri, Jan 16, 2015 at 2:35 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
very well, my reputation has admittedly taken a hit. however, again, more calls re currency than i can 
handle. in addition I am considering a statement and positon that Out of respect and love for my former 
girlfrend I have tried to keep her out of my mess. she was never questioned, or subpeonaed. her name 
never surfaced.. I thought it right as a friend to protect her name. however during the entire 
time she was my serious girlfriend. She traveled with me almost everywhere, each house, she is on 
the plane many many times. she knew and remembers She never saw anything that 
claims. She can confirm 1. I was never alone at the house. staff, friends etc. , no girl ever complained, 
not once. 2. jane doe 1 and 2 , were local strippers, that would call all the time asking if they could do 
massages. . . they left message after message. 3. We had a serious love relationship, I had promised her 
not to involve her in my story as it was so sordid. . she was 22 - 24 at the time. . 4 she has photos after 
photos showing we were together. . 5 she knows clinton was never on the island. 6 she knows no sex with 
steven hawking, she knows no sex with ehud as he was also never on the island. 6 she is 38 years old now 
and presentable. . 7 She woudl acknowledge that these girls asked to bring their friends . many of their 
best friends sat in the kitchen while they gave massages outside on the terrace. ( no sex ). . they certainly 
looked over age. nevr heard anyone say otherwise. , Jeffrey never asked for underage, that is crazy, . . 8 . 
answered the phones. served coffee. . there were many massage people , men women, aged up to 
60. 
On Fri, Jan 16, 2015 at 3:32 PM, Thomas Jr., Landon < wrote: 
Landon Thomas, Jr. 
Financial Reporter 
HOUSE OVERSIGHT 022841 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/ind  
ex.htnnl  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/inde  
x.html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
HOUSE OVERSIGHT 022842 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Landon Thomas, Jr. 
Financial Reporter 
New York Times 
http://topics.nytimes.com/top/reference/timestopics/people/t/landon jr thomas/index.  
html  
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 022843 
"
IMAGES-004-HOUSE_OVERSIGHT_017682.txt,"Page 47 of 78
2007 Utah L. Rev. 861, *926

... . The [trial] court explicitly stated that it was not favoring the rights of the victims over those of defendant. Rather, it was
simply taking their concerns into consideration, as it had not done previously. Taking the concerns of the victim's family into
account does not constitute error, provided that the constitutional rights of the defendant are not denied or infringed on by that
decision. 7°!

Timmendequas demonstrates that victims can have legitimate interests in transfer decisions that can be accommodated without
violating defendants' rights. Rule 21 ought to be amended to allow victims to provide that kind of information to the judge

before any transfer decision is made. 3°?

[*927] Rule 23 - Victims’ Views Considered Regarding Nonjury Trial The Proposals:
I proposed that the court should be required to consider the views of victims before allowing waiver of a jury trial as follows:
Rule 23. Jury or Nonjury Trial
(a) Jury Trial. If the defendant is entitled to a jury trial, the trial must be by jury unless:
(1) the defendant waives a jury trial in writing;

(2) the government consents; and

(3) the court approves after considering the views of any victims. 3°?

The Advisory Committee did not recommend any change to this rule. 344

Discussion:

Here again, the Advisory Committee declined to adopt my recommendation because it goes ""beyond the specific provisions of
the CVRA, which do not address the issues whether the trial should be to the court or to a jury."" 3° It is not necessary to repeat
the arguments about the victim's right to fairness here, other than to note that the ""preferred"" trial method in the federal courts is
a jury trial. 78° Why it is fair to deviate from that preferred method without first listening to the victims is not immediately
clear.

But, for the sake of argument, assume that nothing in the CVRA requires the Advisory Committee to change this rule. The fact
remains that the Advisory Committee could still change the rule if there were good reasons to do so. In view of this fact, it is
surprising that the Committee never defends the logic behind allowing a court to dispense with a jury trial without even hearing
from a victim. To help protect the general public interest in trial by jury, Rule 23 currently requires not only prosecutor

381 Jd. at 76 (citations omitted). The hardship to the victim was established via affidavits from the victim's family provided to the court by
the prosecutor. Id.

382 The Advisory Committee recently recommended a change to Rule 21(b) that does not address the points concerned in this Article. See
infra notes 585-586 and accompanying text.

383 Cassell, Proposed Amendments, supra note 4, at 884.
384 Proposed Amendments, supra note 71.

385 CVRA Subcommittee Memo, supra note 66, at 18.

386 Singer v. United States, 380 U.S. 24, 35 (1965) (""Trial by jury has been established by the Constitution as the ""normal and ... preferrable
mode of disposing of issues of fact in criminal cases.) (alteration in original) (citation omitted). See generally Rachel E. Barkow,
Recharging the Jury: The Criminal Jury's Constitutional Role in an Era of Mandatory Sentencing, 752 U. Pa. L. Rev. 33, 68 (2003).

DAVID SCHOEN

HOUSE_OVERSIGHT_017682
"
IMAGES-011-HOUSE_OVERSIGHT_030655.txt,"From: Michael Wol [rr |

Sent: 8/18/2017 8:08:31 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

Just spent two hours on the phone with Bannon. I saw Spicer and Priebus his week. I'd pretty much say that
nearly 100% of the non-family senior staff of the first six months now believe that Trump can't function in this
job. I think they all become part of a Republican initiative to take him down. I hear Kelly trying to make Trump

understand that Jared and Ivanka have to go.

On Fri, Aug 18, 2017 at 3:58 PM, jeffrey E. <jeevacation@gmail.com> wrote:

I assume no dinner

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030655
"
IMAGES-003-HOUSE_OVERSIGHT_015293.txt,"anybody know it’ s twenty-seven million anyway? Do they have census
takers or whaf? You tell me! I’ Il decide!”

Also, a screaming match broke out between Google co-founder
Sergei Brin and Google CEO Eric Schmidt, over the infamous cover of the
New Yorker, which depicted Barack and Michelle Obama as the new
President and First Lady, a terrorist couple doing that fist-bump gesture in
the Oval Office. Sergei thought it was a brilliant satirical illustration, but
Eric thought it was racist and irresponsible.

Last year, the surprise guest was former British Prime Minister Tony
Blair. This year, it was Steven Beschloss, the editor of a new magazine,
scheduled to be launched in October 2008 and be delivered to 100,000
U.S. households with an average net worth of $25 million. There were piles
of preview copies scattered about.

While Beschloss was holding court in an outdoor area, annoying
mosquitoes kept buzzing around the crowd. Mark Zuckerberg, the
founder of Facebook, yelled at him, “Il guess we’ Il never hear your
readers whining about a mental recession. And those of your subscribers
who were in the sub-prime mortgage industry--these mosquitoes are their

fault, because, along with all the home foreclosures they’ re responsible

HOUSE_OVERSIGHT_015293
"
IMAGES-009-HOUSE_OVERSIGHT_027693.txt,"Flags: 1085445
Is Read: No
Is Invitation: No

GUID: 79A5A69B-481B-409A-897A-DB1BC560371

ira)
us

Message: yes

Time: 05/06/19 07:29:05 AM (578845745)
Flags: 1052673
Is Read: No

Is Invitation: No

GUID: IBBIFCE9-2DD7-412A-BFAC-BB3757 9B7]

Gl
Q
ol

Message: Market up-- suck on that

HOUSE_OVERSIGHT_027693
"
IMAGES-007-HOUSE_OVERSIGHT_023947.txt,"How the Best Universities Inadvertently Ruin Our Schools 207

how to or care to think about their subject as anything other than a
research area. Making a real living with what they teach is not on any
faculty member’s mind. But students go to college precisely because
they think they will get a job afterward that college will have prepared
them for. It just isn’t true.

Teaching how to survive in the real world is simply not the job of
an Ivy League professor. This is too bad because there are professors
who really do like to teach.

One day I decided that I needed some news video from the ma-
jor networks for a project I wanted to start. I called the president of
Northwestern and asked him if he knew anyone at the networks, and
he told me that the former president of one of them was now on our
journalism faculty.

So I called him. He said he would help me but only on one condi-
tion. He wanted me to sit in on the class he taught. This was really an
odd request, and especially hard for me to agree to given how much I
hate classes and classrooms. But I really wanted that video.

Professors almost never ask other professors to watch them teach.
One reason is that they usually aren’t all that proud of their teaching
and don’t want to hear the criticism that inevitably follows. Also, it
really isn’t something they want to talk about even if they are good at
it. It has minor value in a professor’s world.

The class I attended was the most extraordinary I had ever wit-
nessed. This former head of a network previously had been head of the
news division. He had turned his class into an all-day simulation of a
network newsroom. Students were charged with preparing and produc-
ing the evening news. They got their information from various sources
that were used by the networks and prepared stories, played the roles
of on air reporter, news writer, anchor, camera person, editors, and so
on. They finished and went on air at 5.00. At 5:30 they watched to see
what the networks had done that day and compared and judged their
own success. The professor was there all day guiding them.

I thought this class was fantastic and said so. I then said it would
be a loss when he left Northwestern in a couple of years. He said he
had no intention of leaving, but I knew what he was doing would
never be tolerated.

Why not?

Let me count the reasons. First, he was teaching doing and prac-
tice, and not theory and analysis. While the rest of the world knows
that doing and practice is how you learn, this is the exact opposite of

HOUSE_OVERSIGHT_023947
"
IMAGES-006-HOUSE_OVERSIGHT_020807.txt,"Image source: slavorum.org

#11 This Is The Cosplay Of Xenia Shelkovskaya, But One
Person, Right?d

Image source: slavorum.org

#12 Hello Harry Potter

HOUSE_OVERSIGHT_020807
"
IMAGES-007-HOUSE_OVERSIGHT_022481.txt,"Kim-Trump border meeting: History or
just a photo-op?

HOUSE_OVERSIGHT_022481
"
TEXT-001-HOUSE_OVERSIGHT_013450.txt,"﻿Vive
L’Oscars
Winner Woody Allen may have missed Hollywood’s
biggest lovefest, but intrepid über movie publicist
Peggy Siegal was there for
every single party and every single
step of the red carpet way. This
year, her exclusive Oscar diary
chronicles close encounters with
Michelle Williams, Meryl Streep,
Harvey Weinstein, Nancy Reagan,
Elizabeth Olsen, George Clooney
and his French doppelganger
Jean Dujardin and, of course, Uggie.
56 | AVENUE MAGAZINE • APRIL 2012
photographs by Patrick McMullan and Billy Farrell Agency
Katie Holmes and Tom Cruise
APRIL 2012 • AVENUE MAGAZINE | 57
Octavia Spencer, The Help Director Tate
Taylor,, Viola Davis and George Clooney
N
avigating our presidential
campaign was a piece of cake
compared to understanding the
nuances of the 2011 Oscar race for the
most revered artistic honor in the world.
This is how nine films fell into the big
picture.
Three premiered in Cannes mid-May,
a distant nine months ago, creating an
Oscar campaign as long as any human
pregnancy. At the Palais, the first inkling
of Oscar buzz was born as the reclusive
Woody Allen premiered Midnight in
Paris. PBS later aired a documentary of
Woody discussing his forty-four films
showing the astonishing depth of his
talent that made you want to immediately
hand him the Oscar for Best Picture.
Academy rules and Woody forbade
marketing this gem.
Woody is not a member of the
Academy becase he doesn’t feel that films
should be in competition. He told me, “A
statue does not change your life. You still
get a cold. You can’t get a date. You still
have everyday things to worry about.”
The Academy learned to love him from
a distance and gave him Best Original
Screenplay as a consolation.
Terrence Malick’s long-awaited,
esoteric The Tree of Life was unveiled at
Cannes and won the coveted Palme D’Or,
positioning it for a nomination.
The Artist, created by the French, shot
in Hollywood and about Hollywood was
the festival surprise. This charming and
oddly original black-and-white silent
entry was introduced by the ringmaster
himself, Harvey Weinstein. No one
could pronounce or spell director Michel
Hazanavicius’s name. Jean Dujardin
could not speak a word of English and
neither could his 10-year-old co-star, the
Jack Russell Uggie who had been rescued
from the pound after two adopters found
him too wild. Tragically Uggie developed
an undisclosed neurological disorder
during production, forcing him to retire
at the height of his popularity.
No slam dunk Oscar winner emerged in
Cannes. Any future film could easily win.
DreamWorks’ The Help premiered
in LA in August and distributor Disney
began propelling the politically correct and
socially significant film to box office heaven
of $200 million. Viola Davis and Octavia
Spencer were forecast to win Oscars.
In September, the Toronto and New
York Film Festivals and Fox Searchlight
presented Alexander Payne’s Hawaiian
family saga, The Descendants, which broke
out of the pack with whispers of winning.
Beloved George Clooney, playing a
father for the first time was hailed as a
shoo-in for best actor. Directing Ides of
March added momentum.
Also at New York’s festival Marty
Scorsese and Paramount sneaked an
unfinished cut of Hugo in Alice Tully
Hall, built for concerts but converted into
a 3-D theater. Marty was christened the
visionary genius of an innovative, costly
3-D masterpiece.
Director Bennett Miller’s highly
anticipated Moneyball for Sony hit a
grand slam at its west coast premiere in
58 | AVENUE MAGAZINE • APRIL 2012
Oakland putting the film, its heart throb star
Brad Pitt, Jonah Hill and seasoned writers
Steve Zaillian and Aaron Sorkin in play.
Spielberg’s epic War Horse for DreamWorks
came thundering down the pike with a huge
premiere back at Alice Tully Hall, with
posters of Lincoln Center’s Tony winning
theatrical version and their indelible puppets
in the background. Steven paid homage to
legends John Ford and David Lean and the
country fell in love with a horse named Joey
and his 14 stand-ins.
Studios worked their stars to the bone.
Ironically, Harvey Weinstein’s independent
French talent who lived in Paris were not
as available as their competitors, therefore
Uggie became a superstar igniting a pet war.
Christopher Plummer, who had Best
Supporting Actor in the bag promoted his
Jack Russell, Cosmo. Diminutive Scorsese
was seen on TV on a small couch with his
large Doberman, Blackie, drooling on his
suit. Spielberg never got a chance to trot
out his lead horse Joey, previously seen in
Seabiscuit because his ravishing reddish coat
was now darkened for another role.
By December, as film critics bestowed
their own awards upon many films, Stephen
Daldry struggled to finish Extremely Loud
and Incredibly Close with a new score. There
was buzz Daldry could be editing the winner.
Producer Scott Rudin juggled his astounding
three films in one year from Daldry, Miller
and David Fincher directing Girl with the
Dragon Tattoo.
Daldry has received three consecutive
directing nominations. In January, for
his fourth film, he received a Best Picture
nomination, for a boy’s emotional journey
dealing with 9/11, and the nine films were
officially off and running. Forty-five film and
media groups handed out awards leading up
to Oscar night.
Martin Scorcese
Lily Collins
Princess Charlene and
Prince Albert II
of Monaco
Berenice Bejo
and Michel
Hazanaviciu
Meryl Streep
Michelle
Williams
Wednesday, February 22
My airplane seatmate to LAX was
Sony Classics Michael Barker. The night
before Woody Allen had shown Michael
To Rome With Love, his new film
shot in Rome and rumored to be his
best. When Woody won the Oscar
Sunday night, for a record breaking
23rd overall nomination, he had just
finished pasta at Sette Mezzo on
Lexington Avenue with art dealer
Lorinda Ash and Soon-Yi. He went
home and watched the N.B.A. All-Star
game. Soon-Yi watched the awards
show on a TiVo delay in another room.
Brad Pitt and
Angelina Jolie
David and
Victoria
Beckham
Jane Fonda and Richard Perry
By the time Woody won, he had fallen
asleep and Soon-Yi didn’t want to wake him.
The next morning he went to the breakfast
table alone and read in The New York Times
that he had won. He had to think it was a
good omen and he would not catch a cold
that day.
Before Michael and I flattened our
recliner chairs for the big sleep, I told him
I felt confident his Iranian film A Separation
would win Best Foreign Film. He told me The
Artist would take Best Picture and Director.
Actor was a tight race between Brad Pitt,
Jean Dujardin, the “Clooney of France”
and the real George Clooney. George was
essentially running against a version of
himself, which only slightly amused him.
The biggest dilemma was Viola vs. Meryl.
Michael picked Meryl as New Yorkers did.
Scarlett
Johansson
Salma Hayek
Billy Crystal
Meryl’s publicist
Leslee Dart
whispered to me.
“She is dressed like
an Oscar. What do
we do if she loses?”
Tom Hanks and
Rita Wilson
Emma Stone
60 | AVENUE MAGAZINE • APRIL 2012
Jessica
Chastain
The Help had taken on a life of its own lead
by vivacious Viola in LA. The Iron Lady, a
much criticized film, showcased Meryl’s
tour-de-force performance. Few knew at
the last minute, on President’s weekend,
Harvey’s shout out, “She hasn’t won in 29
years!” resonated.
An androgynous driver named Monica
greeted me at the airport in a black
tuxedo that would make Albert Nobbs
weep for joy, prompting me to devilishly
think of her as “Nobbs” all weekend.
She barely recognized me sporting a new
Sally Hershberger hairdo, “the yenta with
the dragon tattoo.”
Checking into the Beverly Hills Hotel I
bumped into Best Actress nominee, Golden
Globe and Spirit Award winner Michelle
Williams with her daughter Matilda Ledger
headed to the swimming pool. Innocently
standing there with no makeup she was
remarkably the antithesis of Marilyn
Monroe. I told her she so deserved the
Oscar for her mesmerizing transformation
which did not cheer her up knowing the
gold was going to Viola or Meryl.
This year there seemed to be more parties
than ever. Vanity Fair publisher Edward
Menicheschi staged a staggering six
nights of “CAMPAIGN HOLLYWOOD.”
Ermenegildo Zenga and Colin and
Livia Firth hosted an intimate dinner at
the Chateau Marmont to benefit Oxfam
America, Colin’s pet charity. Editor
Graydon Carter and Edward greeted
Cameron Diaz, Kristin Davis, Gary and
Alexandra Oldman and Mia Wasikowska.
In addition, Livia spoke about her ‘Green
Carpet Challenge’ which uses eco-friendly
fabrics for “wear it once” gowns at awards
shows. Get it? Go green on red.
Thursday, February 23
Thursday night boasted 15 events
causing party panic. Here is a brief
rundown of seven.
At The Hollywood Reporter’s Nominee
Night, editor Janice Min and publisher
Lynne Segall greeted the power brokers.
With ballots in, competing studios
cordially mingled in the Mayor’s
backyard. Owen Wilson slipped in the
back door and hung with Michael Sheen
and producer Letty Aronson. Producers
Kathy Kennedy and Frank Marshall
chatted with DreamWorks’ partner Stacey
Snyder, producer Graham King and Emily
Mortimer. Fox’s Tom Rothman and Jim
Gianopulos compared notes with Focus’
James Shamus. Young directors Drake
Doremus (Like Crazy), Sean Durkin (Martha
Marcy May Marlene) and Oscar nominee
and Spirit Award winner J.C. Chandor
(Margin Call) drank at the bar. Breakout
directors Nick Jarecki (Arbitrage), Zal
Batmanglij (Sound of My Voice and
The East) and Jay Duplass (Jeff Who
Lives at Home) dreamed about their
future nominations. Aaron Sorkin,
Piers Morgan and Lawrence O’Donnell
handicapped Romney vs. Obama as
Brooklyn Decker sashayed by.
Urs Fisher’s exhibition Beds & Problem
Paintings featured two bed sculptures at
Larry Gagosian’s Gallery followed by his
private dinner at Mr. Chow’s. Art lovers Vera
Wang, Russell Simmons, Steve Martin, Jean
Pigozzi and John Waters attended.
The US-Ireland Alliance honored
nominees Hugo screenwriter John Logan,
Bridesmaids star Melissa McCarthy and
Michelle Williams at Bad Robot. Logan also
wrote Rango, Coriolanus, 007’s Skyfall and
Jersey Boys for the big screen.
Jennifer Lopez
Diane
Kruger
Terry Richardson
Rooney Mara
Graydon Carter and Anna Scott
APRIL 2012 • AVENUE MAGAZINE | 61

Fran Leibowitz
Michael Douglas and Kirk Douglas
Wendi Deng Murdoch
Abbie Cornish
Bar Refaeli
Woody is not a member of the
Academy because he doesn’t feel
that films should be in competition.
He told me, “A statue does not change
your life. You still get a cold. You can’t
get a date. You still have everyday
things to worry about.”
Alfre Woodard hosted a down and
dirty girls night out in a rented house
above Sunset for Viola Davis and Octavia
Spencer.
Universal honcho Ron Meyer hosted a
civilized private buffet at his Malibu home
for Graydon Carter with Tom Cruise,
Leonardo DiCaprio, Barbra Streisand,
Tom Hanks and Michael Douglas.
Stunning socialite Betsey Bloomingdale
gave a seated dinner at her Holmby Hills
home for best friends Nancy Reagan,
Wendy Stark, Bob Colacello, Joan
Collins and fashion icon Lynn Wyatt.
Tobias Meyer, auctioneer for Sotheby’s
and art dealer Mark Fletcher hosted
an open house at their Mulholland
Drive home for American avant-garde
photographer Terry Richardson. This is
the only pre-Oscar party where a guest
dropped his pants and mooned the red
carpet and Terry signed a fans breast.
Art collectors Bill and Maria Bell, Todd
Eberle, rock singer Jack Donahue and
Francesco Clemente schmoozed.
Friday, February 24
At the BHH I ran into David Heyman,
English producer of the Harry Potter
franchise who was honored at the
Publicists Awards lunch at The Beverly
Hilton. “Motion Picture Showman of the
Year” was the consolation prize for being
snubbed by the Academy for visualizing
a publishing miracle for children around
the world.
“Nobbs” whisked me off to the
British Film Reception hosted by
Jeremy Hunt, UK Secretary of State for
Culture and Olympics and the British
Consul-General Dame Barbara Hay,
in her Hancock Park residence. Upon
introduction, I blurted out that my friend
Lord Astor was interested in having
L.A. people get to know his son-in-law,
Prime Minister David Cameron. As an
appointed diplomat she was horrified by
my indiscretion and turned to greet the
next American idiot. I was just making
conversation.
Daldry told Sony’s Sir Howard
Stringer and astute film CEO Michael
Lynton, Kenneth Branagh, Janet McTeer
and Gary Oldman that he, as executive
producer of the Olympics, was headed
back to London to oversee special events,
including the opening ceremony, directed
by Danny Boyle. Victoria Beckham
62 | AVENUE MAGAZINE • APRIL 2012
made a dramatic, sullen, last-minute
appearance looking perfectly skinny in a
dress from her eponymous collection.
At the Women in Film cocktail party
at Cecconi’s, Gwyneth Paltrow, Shailene
Woodley, Selena Gomez and Vanessa
Hudgens networked with Jessica, Octavia
and Viola now of social stamina fame.
Blythe Danner kissed me at the door
as a military-type looked on. I kept saying
to him, “Where have we met?” Nowhere.
He was astronaut Mark E. Kelly who
came with Blythe and is married to
former congresswoman Gabrielle
Giffords, Paltrow’s second cousin. Only
I could mistake an astronaut for a movie
marketing guy.
Vanity Fair fêted Scorsese and The
Film Foundation, which has saved 555
films in 22 years. Cocktails were at the
restored Bel-Air Hotel. Honorary Jewess
Lorraine Bracco ran past me yelling
that she was late for Ronald Perelman’s
Shabbat dinner. Three, three-time Oscar
winners: composer Howard Shore,
costume designer Sandy Powell and editor
Thelma Schoonmaker were honored.
Sir Ben Kingsley, Danny Huston, Patty
Clarkson, Irwin Winkler and Giorgio
Armani’s niece Roberta Armani with
Wanda McDaniels debated best
director: Marty or Michel?
“Nobbs” delivered me to WME’s
Party at kahuna Ari Emanuel’s
Brentwood estate, where NFL
quarterback and new client
Tim Tebow was the toast of
the party, especially to Taylor
Swift who made $35.7 million
this year. Michael Douglas
gave me a kiss… doesn’t
get any better. Longtime
lovebirds Robert Pattinson
and Kristen Stewart made
a rare appearance, glued
to each other’s hips.
They mingled with costar
Taylor Lautner,
Miley Cyrus, and her
Hunger Games beau Liam
Zoe
Saldana
Hemsworth. Meanwhile
Charlize Theron, Jack
Black, Rooney Mara, Ben
Stiller, Barry Sonnenfeld
and Larry David talked
business with moguls Les
Moonves and Viacom’s
Philippe Dauman.
Next was UTA Chairman
Felicity Jones
Brooklyn
Decker
Jim Berkus’ soiree that police almost
shut down because the DJ got carried
away impressing Harrison Ford,
Channing Tatum, Jerry Bruckheimer,
Tom Freston, Disney’s Rich Ross,
SNL’s Lorne Michaels and Oscar show
producer Brian Grazer.
Sunset Tower Hotel owner Jeff Klein
and producer John Goldwyn hosted a
secret dinner for Anna and Graydon
Carter at their Hollywood Hills home
with Tom Ford, Mitch Glazer, Fran
Lebowitz, Vito Schnabel, Denise Hale,
Lisa and Eric Eisner and VF’s Punch
Hutton, who is Tim Hutton’s sister.
Last stop was CAA Byran Lourd’s
“Friday Night Party”. “Nobbs”
was instructed to drop me off at a
neighborhood school where a luxury van
transported guests to the stone and glass
Bel-Air estate situated on a narrow street.
I knew that guests Colin Firth, Penelope
Cruz, Sofia Vergara, Salma Hayek,
Sandra Bullock, and Glee’s Matthew
Morrison did not arrive by bus. Once
inside the playing field leveled out and
pound for pound there was more famous
flesh per square inch than the Oscars
Miley Cyrus
themselves.
I huddled with Meryl on the couch and
we talked about her race. She thought
Viola. I thought Meryl. She didn’t know
about Harvey’s last-minute “29 year”
shout out.
I hugged Bette Midler and flirted
with Jim Sturgess and Bennett Miller.
Universal’s Donna Langley, who is
overseeing Tom Hooper’s production
Les Miserables, mentioned Hugh
Jackman’s impeccable manners should
insure best behavior from Russell Crowe.
I introduced HBO’s Game Change
director Jay Roach, who is an authority
on Hitler, to George Clooney who is
writing a thriller about the Nazis stealing
art. Clooney whispered, “The Frenchman
is winning.”
I thanked Bryan Lourd, Kevin Huvane
and Richard Lovett, got on the bus and
prayed that I get invited back.
Saturday, February 25
I dragged my tired ass to the Academy,
as foreign film aficionado Mark Johnson
was conducting a symposium on the
nominated films, which included Sony
APRIL 2012 • AVENUE MAGAZINE | 63
Colin Firth and Livia Giuggiolo
Natalie
Portman
Classic’s Footnote from Israel and A
Separation from Iran. From the other
side of the world both governments
monitored their directors as the Sony
boys kept the peace.
Michael and Tom Bernard invited me
to the Independent Spirit Awards at the
Santa Monica Pier. Michael hosted his
Take Shelter nominees Jessica Chastain,
Michael Shannon and director J e ff
Nichols. Tom held court at the next
table with the entire Iranian cast of A
Separation, which won. Tom almost had
a heart attack when I threw my arms
around Iranian director Asghar Farhadi,
which in Iran is unacceptable behavior,
especially by a Jewish American Princess.
Tom wished I had gone to the crowded
champagne brunch in honor of Prince
Albert and Princess Charlene at the Bel-
Air Hotel where Montblanc launched
Grace Kelly watches. Simultaneously,
TV producer Gary Pudney hosted
another secretive, lunch which Albert
and Charlene actually attended with
Graydon Carter, Carolina Herrera,
Wallace Annenberg, Bobby Shriver,
Bobby Marx, Kathy and Ricky Hilton
and Lynn Wyatt. Wolfgang Puck
joined them for dessert.
“The French,” as the The
Artist gang was nicknamed, had
won six Césars, France’s version
of the Oscars, in Paris the night
before. They flew all night and
Harvey’s chauffeur arranged a
police escort from LAX just in
time for them to win four Spirit
Awards, cementing the Oscar
win.
Back at the BHH, Spielberg
was the first to arrive at the
tenth annual “Night Before”
fundraiser in support of the
Motion Picture and Television
Fund. Jeffrey Katzenberg had
already secured $200 of a $350
million fundraising goal that
included money from him,
Tom Cruise, Steve Bing,
Casey Wasserman, Clooney
and Spielberg. Every nominee
showed up.
Chanel and Charles Finch
cooked up their chic soiree at
Madeo, where a mariachi band
enthusiastically announced
everyone’s arrival. Bedecked
exclusively in Chanel were Diane
Kruger, Elizabeth Olsen, Rose Byrne,
Ginnifer Goodwin and Rachel Bilson.
Also air kissing were Rachel Zoe,
Rosanna Arquette, Alice Evans and
Ioan Gruffudd, Zachary Quinto, Julia
Ormond and Dustin Hoffman.
My Week With Marilyn’s English
director Simon Curtis insisted we join
Kenneth Branagh at The Weinstein
Olivia Wilde
Company’s bash at the Soho House in
time to hear Tony Bennett sing “Autumn
Leaves” to Harvey’s surprised 86-yearold
mother Miriam, Madonna and
Meryl. Jean Dujardin, Bérénice Bejo,
Michel Hazanavicius and producer
Thomas Langmann staggered around
completely jet lagged, too tired to speak
English. Uggie on the other hand was
the absolute star of the evening as his
trainer placed him in everyone’s arms
for photos. W.E’s Andrea Riseborough
and Abbie Cornish sat next to baseball
cap-clad Leonardo DiCaprio as his ex,
Bar Refaeli, kept her distance across
the room. Zoe Saldana walked in
holding hands with Bradley Cooper.
Scarlett Johansson introduced me to
her boyfriend Nate Naylor. Katy Perry,
Felicity Jones and Malin Akerman
circled a refreshed Gerard Butler. The
two daughters of New York slain hero cop
Peter Figoski, Corrine, 14 and Caroline,
16 who had also been Harvey’s guests at
the Super Bowl stood in the middle of
this circus and just fainted.
Sunday, February 26
I met interior designer Nicky Haslam
in the Polo Lounge and found Nancy
Reagan brunching with Bob Colacello
and Carolina Herrera. Nancy knows me
as “The DVD Lady”. I promised to send
her The Iron Lady. I didn’t have the heart
to tell her that her late husband, who was
Margaret Thatcher’s best friend, was
barely mentioned in the film.
In a Marchesa gown, Dennis Basso
fur and Iradj Moini necklace, I collected
Simon Curtis and headed to the
Hollywood & Highland Center. Simon,
who has never been to the Oscars before,
miraculously scored a front row seat
between Michelle Williams and Clooney.
We pulled up to screams of hysteria at the
mother of all red carpets.
Meryl’s publicist Leslee Dart
whispered to me. “She is dressed like
an Oscar. What do we do if she loses?”
Sacha Baron Cohen hilariously guilted
the Academy into letting him wear his
costume from The Dictator and, after
soiling Ryan Seacrest, he went directly
to dinner at Vanity Fair. Gwyneth
Paltrow won the style award in Tom
Ford’s white column and Angelina Jolie
so successfully invented a new one legged
pose in a thigh high slit gown on the red
carpet she repeated it for 39.3 million
64 | AVENUE MAGAZINE • APRIL 2012
I introduced HBO’s Game Change director
Jay Roach, who is an authority on Hitler, to
George Clooney who is writing a thriller
about the Nazis stealing art. Clooney
whispered, “The Frenchman is winning.”
people onstage.
Tickets were so tight that I gave my plus
one to Penelope Ann Miller because she
promoted The Artist every day for four
months. Seated next to us were co-stars
James Cromwell and Missi Pyle.
Billy Crystal made us laugh, Cirque de
Soleil made us gasp and most of the wins
were expected.
Colin Firth crowned Meryl her third
win on a record 17 nominations and
Harvey beamed.
The Academy was so confident The
Artist would win, they invited Uggie,
who waited in the wings and ran out as
Tom Cruise announced the film.
Once the show was off the air, I followed
my seatmates to the stage loaded with
their programs, wraps and handbags and
led the French to the press rooms.
The Governor’s Ball was the next
stop where the winners got their Oscars
engraved. Everyone paid respects to
the Academy’s Tom Sherak and Dawn
Hudson. Stars headed to the Sunset Tower
to Graydon’s glittering Vanity Fair Oscar
bash and their militarized security with
micro chipped cards. If your name was
not on the list and you were carrying an
Oscar, you could walk in. Billy and Janice
Crystal were mobbed with well wishers.
Elton John made $5 million dollars at his
20th AmFar event which also auctioned
off two tickets to Vanity Fair’s party for
$230,000.Tom Cruise and Katie Holmes
were thrilled to talk to George Lucas.
Gwyneth snuggled with Coldplay’s Chris
Martin and Jennifer Lopez brought boy
toy Casper Smart. Every major actor
previously mentioned is standing in the
room. Spotted in a sea of celebrity were
Tina Fey, Glenn Close, Olivia Wilde
and Jason Sudeikis, Terry George, Jane
Fonda, Demian Bichir, Claire Danes,
Meryl’s daughters Mamie Gummer with
husband Ben Walker, Grace Gummer,
Salma Hayek, Brit Marling, Natalie
Portman, Sofia Coppola, Peter Brant,
Stephanie Seymour, Ryan Kavanaugh,
Ingrid Sischy, Sandy Brant and Wendi
Murdoch with Bingbing Li.
George Clooney threw his own
exclusive after party at Craig’s in West
Hollywood for close friends Bryan
Lourd, Grant Heslov, Stan Rosenfield,
Brad and Angelina, Emily Blunt and
John Krasinski, Cindy Crawford,
Jimmy Kimmel, Ryan Seacrest and best
adapted screenplay winner Alexander
Payne.
George and Brad cancelled each
other out with two great performances.
Clooney immediately returned to his best
role as humanitarian, flew to the Sudan,
met with Obama and was dramatically
arrested at a protest.
“The French” threw a wild
celebration at the Chateau
Marmont, poured champagne
down their throats and threw
each other in the pool at 3:00
a.m. Nobody spoke English.
By 4:00 a.m. Harvey
rounded up his artists for a
live broadcast on The Today
Show from The Four Seasons
lobby. In disheveled black tie,
five Oscar winners, all total
unknowns a year ago, made Oscar
history with the first silent film to
win since 1927.
It wasn’t God, but 5,800
Academy voters who said they
won. This had to be the most
exciting night of their lives. The
glory and memories live forever.
The next day they went back
to reality . As Woody says, “A
statue does not really change
your life. You still get a cold.”
Uggie was invited
to the White House
correspondent’s dinner as
a guest of the Washington
Times in April. He hopes to
meet President Obama. ✦
Woody Allen
Claire
Danes
Jean Dujardin
Elizabeth
Olsen
Georgina
Chapman and
Harvey Weinstein
"
IMAGES-004-HOUSE_OVERSIGHT_017696.txt,"Page 61 of 78
2007 Utah L. Rev. 861, *946

The Advisory Committee's next argument is that to allow victims to be heard on dismissals would violate the CVRA's
requirement that nothing in the Act ""shall be construed to impair the prosecutorial discretion of the Attorney General."" 48° But
it is hard to understand how allowing information from a victim to go to a court ""impairs"" the government's discretion.
Particularly given that courts must already review the public interest in reviewing dismissal motions, executive branch power is
not impaired when a court hears from a victim in making its determination whether to approve. 4°!

The Advisory Committee's final argument is that ""when there is no public court proceeding, the victim's views will be taken
into account through the right to confer with the government ... .""_ 48? The passive voice (""taken into account"") obscures the
overarching fact that it is the government itself that is proposing to dismiss the charges. The victim deserves to be heard not
merely by the government agency proposing to drop the charges, but by the independent branch of government - the judiciary -
that will review that proposal. For all these reasons, Rule 48 should be amended to ensure that victims are heard because
charges are dismissed.

[*947] Rule 50 - Victims’ Right to Proceedings Free From Unreasonable Delay The Proposals:

I proposed that a victim's right to proceedings free from unreasonable delay should be recognized as follows:
Rule 50. Prompt Disposition

(a) Scheduling Preference. Scheduling preference must be given to criminal proceedings as far as practicable.

(b) Defendant's Right Against Delay. The court shall assure that the defendant's right to a speedy trial is protected, as provided
by the Speedy Trial Act.

(c) Victim's Right Against Delay. The court shall assure that a victim's right to proceedings free from unreasonable delay is
protected. A victim has the right to be heard regarding any motion to continue any proceeding. If the court grants a motion to
continue over the objection of a victim, the court shall state its reasons in the record. 4%?

The Advisory Committee proposed no change to this Rule. 444
Discussion:

Victims have speedy trial rights under the CVRA, which grants victims the right ""to proceedings free from unreasonable delay.""

485 Tn addition, child victims previously had the right to a ""speedy trial"" in certain situations. 45°

In view of these statutory rights, I proposed supplementing the existing rule on scheduling (Rule 50) to fold in victims' rights.
The Advisory Committee did not explicitly discuss this proposal, suggesting that its failure to act was possibly due to oversight.
487 Further suggesting oversight is the Advisory Committee's repeated statements that it ""sought to incorporate, but not go

480 18 U.S.C. § 3771(d)(6) (2006).

481 See Heaton, 458 F. Supp. 2d at 1271-73 (reaching this conclusion). In Heaton, the government did not challenge this holding and, after
the decision requiring it to submit the victim's views, filed a pleading to that effect, all without any apparent separation of powers problem.

482 CVRA Subcommittee Memo, supra note 66, at 20.
483 Cassell, Proposed Amendments, supra note 4, at 918-19.

484 Proposed Amendments, supra note 71.

485 18 U.S.C. § 3771(a)(7) (2006).
486 Id. § 3509(j).

487 See CVRA Subcommittee Memo, supra note 66, at 17-20 (cataloging my proposals that the subcommittee did not adopt; Rule 50 not
mentioned).

DAVID SCHOEN

HOUSE_OVERSIGHT_017696
"
IMAGES-009-HOUSE_OVERSIGHT_026599.txt,"The case for naming a U.S. secretary of Culture - latimes.com Page 2 of 3

Landesman. Even so, Landesman's budget got slashed 13% for fiscal 2012 to an embarrassing $146 ~
million.

As arts supporters love to point out, that is less than half of the budget the Pentagon provides for
military bands alone. In cash-strapped France, on the other hand, Minister of Culture and
Communication Aurélie Filippetti was enraged when President Francois Hollande cut the 2013 budget
of her department 4.3% to 7.363 billion euros, which is just under $10 billion. According to
Landesman, the U.S. remains the weakest funder of arts in the developed world.

From the start, Obama had seemed a good prospect for becoming an arts president, and four years
ago, as he was about to assume office, 76,000 people signed a petition, instigated by Quincy Jones,
begging the new president to create a Cabinet-level cultural ministry patterned after France's. He has
stepped out to arts events and invited artists from many genres to the White House. But he's kept that
pretty low profile. The arts can be a lightning rod among populist politicians, and Washington is
divided enough as it is. Clearly Obama has had other preoccupations than cabinetizing culture. But
that divisiveness is precisely why we need a Cabinct-level spokesperson for culture. We have come to
see ourselves as a country of opposites. The allocation of public funds for just about anything is
viewed as a war between the rich and the poor. We color our states red or blue. Some of us love guns;
some of us hate them. Go down the line, and there appears to be less and less on which we agree.

One thing we do have in common is our identity. Wherever we are on whatever spectrum, we see
ourselves as Americans. It is that culture that makes everything else matter. The arts and the
humanities help us figure out who we are.

A Department of Culture, into which the current NEA and NEH might be folded, may not be
protected from budgetary vulnerability, but it would at least have more prestige and perhaps more
stability. It would also empower a public spokesperson for culture.

Maybe even more essential is the influence a secretary of Culture could have in a way-too-wonky

Washington. I know there aren't regular Cabinet meetings anymore where all the secretaries gather

around a big table and hash out all the issues of the country. Imagine, though, a perfect White House,

where Cabinet officials did often collect, and among them sat a political outsider, a generalist who
could offer rich historical insight from the humanities and visionary thinking from the arts.

PHOTOS: Arts and culture in pictures by The Times

Ideally, a secretary of Culture should be a political outsider, able to function as a moral conscience for
all decision making. He or she would further serve as someone able to ask the hard questions, to see
the world from possibly unexpected angles and help prompt new solutions to old problems. As artists
know and politicians refuse to acknowledge, all you have to do to create change is change your mind.

So whom could we get? Who could speak in such a way that the right and left would listen? Who
from the arts or the humanities could possibly win the respect of expert wonks? Who could inspire a
divided nation?

I've saved my suggestions for last because you're going to think them outlandish. They're not.

First, I nominate Peter Sellars. Stop laughing. How is an L.A.-based theater, opera and festival
director who sports spiky hair, strings his own beads, buys his clothes at thrift shops and regularly

http://www. latimes.com/entertainment/arts/culture/la-et-cm-secretary-of-culture-notebook-... 3/27/2013

HOUSE_OVERSIGHT_026599
"
IMAGES-003-HOUSE_OVERSIGHT_015287.txt,"prison riot. McCormick wrote to me, “Can you believe this shit! | wonder
how much we pay the guy/girl who actually sits and reads every book that
comes in for offending passages. How about you tear out pages 259-261
and re-send this book back with a copy of the rejection and a notation
that the offending pages have been removed.”

Which is exactly what | did. This time, though, my cover letter to the
warden was ignored, and the book was returned, stamped

“Unauthorized.” _| had called their bluff. Obviously, McCormick was
being punished simply because he could be. | then corresponded with
several prison correspondents around the country to find out what
inmates had not been allowed to read. | wanted to see other examples of
arbitrary and frivolous censorship by prison personnel. Here are some
results of my informal survey:

* ""The Texas Department of Corrections blocked Bo Lozoff' s
Breaking Out of Jail, a book about teaching meditation to prison
inmates.”

* ""Disallowed: 7rainspotting because of its ‘glorification of drug
use.’ Tom Robbins’  Sti// Life With Woodpecker because it has a chapter

that ‘contains information about bombmaking.’ ”

HOUSE_OVERSIGHT_015287
"
IMAGES-011-HOUSE_OVERSIGHT_030641.txt,"From: Linda Stone as

Sent: 11/13/2016 1:53:35 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Ri did see this coming...

Importance: — High

And just had a great time with Joi.
You still in Paris?

Co-authored with iPhone auto-correct

On Sep 26, 2016, at 7:31 AM, Linda Stone <q wrote:

How's that?
Which team you pulling for?
Co-authored with iPhone auto-correct

On Sep 26, 2016, at 2:30 AM, jeffrey E. <jeevacation@gmail.com> wrote:

too far to tell, we will know much more come oct 15

On Mon, Sep 26, 2016 at 7:14 AM, Linda Stone i, wrote:

SPEAK! Please. What do you think?

On Sep 25, 2016, at 12:15 PM, jeffrey E. <jeevacation@gmail.com> wrote:

do you think he can win?

On Sun, Sep 25, 2016 at 9:10 PM, Linda Stone <q wrote:
Moving (small places in Raleigh and Bellevue), wrapping up taxes, wrapping up fire claim, trying to figure
out if technologies that soothe the nervous system (that offer the positive effects that meditation or massage

might offer) are worth working on....

And wondering if the fact that so many people are on anti-depressant, adhd, and other drugs, is what makes
trump appealing and his flaws invisible...

Will you have a cabinet position?
How are you?
Co-authored with iPhone auto-correct

On Sep 25, 2016, at 12:01 PM, jeffrey E. <jeevacation@gmail.com> wrote:

bring me up to speed.

HOUSE_OVERSIGHT_030641
"
IMAGES-001-HOUSE_OVERSIGHT_012319.txt,"10
11
12
13
14
45
16
17
18
19
20
21
22
23
24
25

nO wu B® WN BB

2007-04-25 J. nr

What did she say happened up there?

Q. What did she say about him?
A. She had fun.

Q. She had fun?

A. Uh-huh.

Q.

A.

BY MS. BILAFONIA:

Q. Did you ever, either when you gave him a
massage or any of the girls, did you ever use a big back
massager or it was only manual massage?

A. No, it was only my hands. we never used
anything else.

Q. Now when you were working for him, when you
were going over to Jeffrey's house to give massages, did
you have a boyfriend?

A. Yeah, yeah.

37

Q. Okay. How did he feel about you going to
Jeffrey's house?

A. He waS a jealous little boy, but he didn't
care. Bring home the bacon.

Q. what's your boyfriends?

.

Page 38

HOUSE_OVERSIGHT_012319
"
IMAGES-007-HOUSE_OVERSIGHT_023953.txt,"What Can We Do About [t? 207

of how something works and the next we know, schools are teaching
that theory as a prelude to actually doing the work. Scholarship has
been equated with education. You do not have to know calculus to re-
pair an engine. You might want to know calculus to design an engine,
but that is no excuse for forcing every engineer to learn it. Similarly,
you do not have to know theoretical physics to master the seas. Mari-
ners do know physics, of course—practical physics about load balanc-
ing, for example—but they do not have to know how to derive the
equations that describe it.

What I am saying here about the shipping industry holds true for
every other area of life as well. Twenty-first-century skills are no dif-
ferent from 1st-century skills. Interestingly, Petronius, a 1st-century
Roman author, complained that Roman schools were teaching “young
men to grow up to be idiots, because they neither see nor hear one
single thing connected with the usual circumstances of everyday life.”
In other words, schools have always been about educating the elite in
things that don’t matter much to anyone. This is fine as long as the
elite don’t have to work.

But today the elite have extrapolated from what they learned at
Harvard and decided that every single schoolchild needs to know the
same stuff. So, they whine and complain about math scores going
down without once asking why this could possible matter. Math is not
a 21st-century skill any more than it was a 1st-century skill. Algebra
is nice for those who need it, and useless for those who don’t. Skill
in mathematics is certainly not going to make any industrial nation
more competitive with any other, no matter how many times our “ex-
perts” assert that it will. One wonders how politicians can even say
this junk, but they all do.

Why?

My own guess is that, apart from the fact that they all took these
subjects in school (and were probably bad at them—you don’t become
a politician or a newspaper person because you were great at calculus),
there is another issue: They don’t know what else to suggest.

Thinking about the 1st-century will help us figure out what the
real issues are. People then and people now had to learn how to func-
tion in the world they inhabit. This means being able to communi-
cate, get along with others, function economically and physically,
and in general reason about issues that confront them. It didn’t mean
then, and doesn’t mean now, science and mathematics, at least not for
95% of the population.

HOUSE_OVERSIGHT_023953
"
IMAGES-009-HOUSE_OVERSIGHT_027687.txt,"Sender: e:jeeitunes@gmail.com

Time: 05/03/19 09:54:46 AM (578595286)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 6DAA18CA-FFO07-4897-9341-EFDO3BF52CA1

Message: great

Sender: e:jeeitunes@gmail.com

Time: 05/03/19 01:40:53 PM (578608853)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: BDF16674-CF33-4D0B-9E23-2078AAB237C5

Message: <Unsupported Message Content>

Time: 05/03/19 01:48:23 PM (578609303)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 1F/78B6FD-4DD2-4FAB-8 9A1-9CA390B19363

Message: I told miro it would be in the cabinet room

Sender: e:jeeitunes@gmail.com

Time: 05/03/19 02:07:29 PM (578610449)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 3FD4AB48-D0A1-4930-B/A6-37378F5FOBF

Gl

Message: he said you advice helped

Time: 05/03/19 02:11:02 PM (578610662)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 2EC90CD5-1F19-45B5-867A-F12849CCDA60

Message: Of course ::: very complex -- just tell potus: ‘Orange Man Great'

Time: 05/04/19 06:49:28 AM (578670568)

HOUSE_OVERSIGHT_027687
"
IMAGES-006-HOUSE_OVERSIGHT_020813.txt,"Image source: slavorum.org

#22 And Another One

ane ane e EFaNT

Image source: slavorum.org

HOUSE_OVERSIGHT_020813
"
IMAGES-007-HOUSE_OVERSIGHT_022495.txt,"This guide is intended to provide information for businesses and individuals regarding the US. Foreign Corrupt Practices
Act (FCPA). The guide has been prepared by the staff of the Criminal Division of the U.S. Department of Justice and the
Enforcement Division of the US. Securities and Exchange Commission. It is non-binding, informal, and summary in nature, and
the information contained herein does not constitute rules or regulations. As such, it is not intended to, does not, and may not
be relied upon to create any rights, substantive or procedural, that are enforceable at law by any party, in any criminal, civil, or
administrative matter. It is not intended to substitute for the advice of legal counsel on specific issues related to the FCPA. It does
not in any way limit the enforcement intentions or litigating positions of the U.S. Department of Justice, the US. Securities and
Exchange Commission, or any other US. government agency.

Companies or individuals seeking an opinion concerning specific prospective conduct are encouraged to use the US.
Department of Justice’s opinion procedure discussed in Chapter 9 of this guide.

This guide is United States Government property. It is available to the public free of charge online at www,justice.gov/

criminal/fraud/fepa and www.sec.gov/spotlight/fepa.shtml.

HOUSE_OVERSIGHT_022495
"
IMAGES-004-HOUSE_OVERSIGHT_016588.txt,"Code Enforcement Board Meeting Minutes 07/17/08

MOTION BY MR. OCHSTEIN TO GRANT THE VIOLATOR UNTIL
NOVEMBER 7, 2008 TO COME INTO COMPLIANCE AND IF
COMPLIANCE IS NOT ACHIEVED BY THAT DATE, TO ASSESS A FINE
IN THE AMOUNT OF $250.00 A DAY UNTIL COMPLIANCE IS ACHIEVED
SECONDED BY MR. BALLENTINE

Mr. Vanneck asked for clarification on what the motion was and Mr. Walton
advised the motion was that the sea grapes must be cut after turtle season by
November 7, 2008 and if they were not cut by that date, a $250.00 a day fine
would commence on November 8, 2008 and continue until compliance is achieved.

Mr. Fried asked who the fine would apply to and Mr. Walton said it would be to
the Nightingale Trail Beach Club Association. Mr. Fried asked if it was a legally
constituted body and Mr. Maxey said it was an informal body, that on the deeds,
everyone owns this piece of property in common. There was some additional
discussion on the ordinance. Ms. Van Buren asked if every single property owner
on the street was a member of the association and Mr. Maxey said every property
owner on Nightingale was and there were one or two houses on North Ocean and
North Lake as well. Mr. Maxey said there were 23 separate memberships. Ms.
Van Buren asked about the finances and Mr. Maxey said there were annual dues of
$75.00 a year and a common bank account of $3500 or $3600. Mr. Maxey said
that if a fine was incurred, that is probably where it would come from but he did
not believe, because of his fiduciary responsibility to the group, he could fight the
decision with any of those monies. Mr. Ochstein asked if he was an elected officer
and Mr. Maxey said he was president and that he keeps the books and makes sure
the place is in good condition.

MOTION BY MR. OCHSTEIN TO GRANT THE VIOLATOR UNTIL
NOVEMBER 7, 2008 TO COME INTO COMPLIANCE AND IF
COMPLIANCE IS NOT ACHIEVED BY THAT DATE, TO ASSESS A
FINE IN THE AMOUNT OF $250.00 A DAY UNTIL COMPLIANCE IS
ACHIEVED

SECONDED BY MR. BALLENTINE

MOTION OPPOSED

ROLL CALL VOTE:

MR. OCHSTEIN YES
MR. BALLENTINE YES
MR. FRIED YES
MS. GREENBERG YES
MS. VAN BUREN YES
MR. VANNECK NO
MR. HOFFMAN YES
MOTION PASSES 6-1
15

HOUSE_OVERSIGHT_016588
"
IMAGES-011-HOUSE_OVERSIGHT_030899.txt,"From: Lawrence Krauss P|

Sent: 4/6/2011 10:18:31 PM
To: Jeffrey Epstein [jeevacation@gmail.com]
Subject: Re: Statement in the Daily Beast?

Importance: — High

Beyond anything else, you are my friend. I hope we can both always remember that, no matter what.
Are you coming this weekend at all?

Lawrence Krauss

Foundation Professor

School of Earth and Space Exploration and Physics Dept.

Co-director, Cosmology Initiative

and Director, Origins initiative

Arizona State University

Sent from my iPhone

On Apr 6, 2011, at 3:15 PM, Jeffrey Epstein <jeevacation@gmail.com> wrote:

no it was appreciated. thanks

On Wed, Apr 6, 2011 at 11:31 PM, Lawrence Krauss qq wrote:
just so you know.. you can read from bottom up.. you may be mad that I was blunt... haven't heard from
you.. hope all is well..

Begin forwarded message:

From: Rebecca Watson
Date: April 6, 2011 10:28:36 AM MST

To: Lawrence Krauss (i
Subject: Re: Statement in the Daily Beast?

Okay, will do.
On Wed, Apr 6, 2011 at 1:27 PM, Lawrence Krauss TE 0:
ok.. I just sent an additional email which moderates this.. everyone was a victim, including Jeffrey here.. and

there was no happy resolution.. please add.. ""probably everyone was a victim, with no happy resolution or
consequences of these activities"", after ""was the victim in this case.”.

On Apr 6, 2011, at 10:18 AM, Rebecca Watson wrote:

HOUSE_OVERSIGHT_030899
"
IMAGES-010-HOUSE_OVERSIGHT_029759.txt,"KAKAKKKKAKK

for great dirty jokes 24/7, Use Your Finger! (516) 922-WINE
free jokes for The Universe since 1979 ...
simply dial (516) 922-9463 ...
.. not a pay service, just a regular call ...
36 years of free jokes!

RAKKKKKA

Every night for twenty years, Irving Schwartz gets down on his knees and says, ""Lord, it's
me, Irving Schwartz. I'm a good Jewish boy. One time, couldn't you let me win the lottery? One
time? I'm good to my parents, I'm good to my children, I go to temple. Please, Lord, please, one
time, let me win the lottery.""

He's on his knees every night for twenty years.

""Lord, it's me, Irving Schwartz. Would you please let me, sometime, win the lottery?""

Finally one night after twenty years, the heavens open up, and God says, ""Irv, if you want
to win the lottery, you've got to buy a fucking ticket.""

KRKKKKKAK

this is The JokeLand E-Mail List.
if you're not supposed to be on this train, please disembark & get off now.
... and please tell anybody who wants to get on to e-mail me, jokeland@aol.com ...

KKKKKKKAK

What's hairy and bites necks?
Cunt Dracula.

KKKKKKKKKE

An old guy with Parkinson's goes into an ice-cream parlor and says, ""I-I'd like an ice cream,
p-please ...""

The girl behind the counter says, ""What flavor would you like?""

The guy says, ""I-it don't matter, I-I'm gonna drop it anyway.""

KKEKKKKAKKK

Schneider walks into a shoe store and asks for a pair of size 8 tie shoes.
The salesman says, ""But, sir, I can see from up here you're at least a size 11.""

HOUSE_OVERSIGHT_029759
"
IMAGES-011-HOUSE_OVERSIGHT_032056.txt,"From: Weingarten, Reid

Sent: 2/16/2017 8:17:01 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: RE:

| know...| just saw that and almost threw up....also have to decide today whether or not to take flynn

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Thursday, February 16, 2017 3:14 PM

To: Weingarten, Reid

Subject:

http://www.politico.com/story/2017/02/alexander-acosta-trump-jeffrey-epstein-plea-235096

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032056
"
IMAGES-001-HOUSE_OVERSIGHT_011610.txt,"The more difficult question for some in the unit was how we were delivering
that message: breaking into apartments in the middle of the night. Yes, each of
the men was almost sure to be armed. But these flats were their homes. Very
likely, members of their families would be there. If the operation went as
planned, it was hard to imagine how any of the men would have a chance of
surviving. My answer was that ideally we would face them on a battlefield. Yet
given the nature of Black September, that was not going to happen. Mossad was
right to conclude this was the only way to isolate and attack them.

For Amitai Nachmani, who would be leading the attack on one of the
apartments, my words were not enough. Twice, he came to see me. It was not
that he didn’t trust or respect me as his commander, he said. But before leading
his team into Beirut, he needed to satisfy himself that the people we were
attacking, and the way we were attacking them, had been properly thought
through by the people giving the orders. I told him I understood. I did not tell
him that I was actually proud of him for asking — which, although I’m sure he
sensed it, was an omission I regretted when he lost his life in the Sinai Desert a
few months later. But I did go see Dado. I told him what Amitai had said. He
needed no convincing when I urged him to address the entire Beirut team and
answer their questions at our final planning meeting. He did so, explaining how
and why the decision to target these three Palestinians had been reached, to the
satisfaction of Amitai and the others.

We set off by missile boat from Haifa on the afternoon of April ninth. To my
relief, since I suffer from seasickness, the Mediterranean was calm as we
headed west towards Cyprus, before circling back in the direction of the
Lebanese coast after nightfall. I ran through the plan a final time with each
member of the team and then joined Amiram and Lonny in transforming
ourselves as best we could into credible dates for the evening. I’d vetoed dresses
or high heels, in favor of flared slacks and flats. We used standard-issue army
socks to pad out our bras. The Mossad had recruited a volunteer from a Tel
Aviv beauty parlor to help us with our lipstick, blue eyeliner and eye shadow.
The final touch was our wigs. Amiram and Lonny were blondes. I went as a
stylish brunette.

I’m reluctant to take issue with the Spielberg version of events, if only
because he had my part played by someone undeniably better looking than I
was, even as a 31-year-old. But in Munich, we are shown zooming into a
crowded harbor area on a line of motor boats, changing into drag only once
we ve sprinted ashore, opening fire on a dockside kiosk and shooting our way

139
HOUSE_OVERSIGHT_011610
"
IMAGES-005-HOUSE_OVERSIGHT_020473.txt,"14

those working for the harshest congressional critics of China’s crackdown. One trip in
December 1989 featured very heated debates with Chinese officials, especially after it

was announced that National Security Adviser Brent Scowcroft and Deputy Secretary of
State Lawrence Eagleburger were also in Beijing for talks with Chinese leaders and that
the two had made an earlier secret trip in July, soon after the crackdown. As the Bush
administration had publicly promised Congress that all such contacts would end, the staff
delegates’ anger at and criticism of China’s repression was compounded by their harsh
reaction to the Bush administration’s actions.

As US-China relations continued during a tumultuous post-Tiananmen crackdown period,
Congress played important roles on such key issues as the debate over most-favored nation
tariff treatment, the visit of Taiwan’s president to the United States in 1995, and the decision
to approve China’s entry into the World Trade Organization. The Chinese government
endeavored to build influence with and gain access to Congress by encouraging US
businesses to lobby Congress on China’s behalf and by continuing to receive member and
staff delegations in China.

Other entities in the Chinese official structure, including the Chinese Communist Party
and the Chinese military, at times attempted to gain access to Congress. The International
Department of the Chinese Communist Party engaged in growing exchanges with the
major American political parties on a party-to-party basis. A Chinese “united front”
organization, the Chinese Association for International Understanding (CAIFU), managed
some of these ensuing trips. Also involved was the China Association for International
Friendly Contact (CAIFC). This “united front” organization’s link to the Chinese
government was not then well known, though in recent years it has been publicly linked
to the People’s Liberation Army’s Political Warfare Department, which has intelligence
responsibilities.° Meanwhile, other exchanges with US congressional specialists on China
were promoted by a mysterious “united front” operative with excellent official contacts

in China named Jimmy Wong, In this troubled decade, Wong made himself known to a
wide range of Americans playing a role in China policy as having the ability to set up visits
to China and meetings with key officials very quickly. He occasionally even opened his
spacious Beijing home to congressional staffers. His precise affiliation with the Chinese
authorities remains obscure.’

The approaches of the Chinese government to gain influence and gather information
abroad differ from the tradecraft of Russia and the former Soviet Union.* Notably, the
Chinese focus more on individuals rather than effects, and on shaping the personal
context rather than operational tricks. It is person-to-person relationships that carry the
weight of Chinese information operations. Working on these personal ties, the Chinese
authorities focus on facilitating meetings and contacts that may or may not result in
opportunities to influence foreign targets. Still, because Chinese influence seeking is
largely a governmental undertaking, it is hardly surprising that the Chinese mix influence

Congress

HOUSE_OVERSIGHT_020473
"
IMAGES-010-HOUSE_OVERSIGHT_029981.txt,"From:

Sent: 3/31/2013 12:54:05 AM
To: Jeff Epstein [jeevacation@gmail.com]
Subject: Re: Studio

Importance: — High

Barak Obama?
Sent via BlackBerry from T-Mobile

From: Jeffrey Epstein <jeevacation@gmail.com>
Date: Sun, 31 Mar 2013 01:41:30 +0100

To; 5
Subject: Re: Studio

come afterward , i have interesting people. ehud barak, mandelson, zucekrman

On Sun, Mar 31, 2013 at 1:37 AM, qq wrote:

Hi! Last night we confirmed a studio recording with an stunning soprano to record a new aria Fred wrote. Its
early 7:30-9pm on April 4. F really wants to see you, so is after that too late? Wanna join us somewhere to eat
after? Wanna come to the studio? Fred will be playing the piano for the demo. Otherwise, we could have a
visit anytime you want after the 4th. But if you can, the studio would be fun and I would love to have your
input in the booth:). Tora and Miasha might come too. Its an awesome aria sung by a Vampiress who looks
just like (better) Vanessa Williams from our day. ( The Miss USA that somehow had some haha nudie photos
floating around). ANYWAY ..what do ya think?

Sent via BlackBerry from T-Mobile

BS DIS 24S IS DIS BIC DIS BIS DIR 2S IC DIS IC 24S BIS DIS 5S 2k DIS IC 24S BIC DIS 2S 2k DIS IC 24S BIS DIR 2S 2k DIS iC DIC BIC 2IC SIS DiC DIC 2g OIC IC DIS 5IC DI DIS 2k 24K iS 2IC IC 2k DIS 2k 2IC ok 2k ic

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_029981
"
IMAGES-010-HOUSE_OVERSIGHT_030208.txt,"just to make sure the limitations period runs on all his or her crimes while he or she remains
in office.

But concluding that a president can be indicted does not mean that he or she should be
indicted, even if that would be called for by the normal operation of the criminal process.
Awaiting action by the House of Representatives may in some circumstances be the prudent
course—though one might question whether it is appropriate to weigh that institutional
factor variously depending on how realistic it is that a particular House and Senate would
take their responsibilities seriously.

Some offenses might be seen as better suited for initial consideration by Congress in the
impeachment process. Whether an exercise of executive authority—such as discharging an
official or pardoning someone for an allegedly corrupt reason—should be grounds for
sanction might be seen as requiring an essential political judgment, perhaps best suited for
elected officials to make. On the other hand, the regular processes of the federal criminal
system might be a better forum for an alleged complex multi-defendant financial conspiracy
including money laundering, bank fraud, tax evasion, etc. In short, context matters for a
special counsel or other prosecutor considering how best to proceed.

There is good reason to have the judiciary decide the question of whether an indictment of a
sitting president is categorically barred. This is especially the case now that the decision
process would in significant part be based upon an interpretation of a Supreme Court
decision, Clinton v. Jones. If a prosecutor included the president in an indictment, the
president would no doubt move to have his or her name stricken. The first question a judge
should ask is, “Jf J strike the president from the indictment, will he or she agree to waive any
defense of the statute of limitations that may expire while he or she is in office?” If the
president refuses to waive the statute of limitations, that itself would be a good reason for
permitting the indictment, while postponing any further proceedings.

It is impossible to predict whether a prosecutor would ask the attorney general for
authorization to indict—or to make the president an unindicted co-conspirator—without
knowing the degree and nature of any criminality that might be uncovered, and how
including or not including the president in an indictment would affect the trial of other
conspirators. But the possibility of including the president in an indictment is not
categorically foreclosed.

HOUSE_OVERSIGHT_030208
"
IMAGES-001-HOUSE_OVERSIGHT_011176.txt,"katestewart | RT @louteasdale: Watch @billiejdporter tonight on 23 Jun 2016, | Instagra 235 | negative
_ Newsnight talking about #brexit #Hvoteremain channel | 02:37-CEST | m~
4 at 9pm X kateste
wart_
yudhaueeo_ | Inggris Gelar Referendum 'Brexit'’ Hari Ini: 23 Jun 2016, | San 0 | neutral
Diperkirakan 46,5 juta orang berhak ambil 02:37 -CEST | Francisc
bagian dalam... https://t.co/Ds7 Dhxos29 re)
sparkyofAlb | RT @CBCNews: 'It's a dead heat': What you want to 23 Jun 2016, | Swift 14 | negative
erta know about the Brexit vote https://t.co/ZV51GeqdLF 02:37-CEST | Current,
https://t.co/N2Ilpbv2ddd Saskatc
hewan
Love_Catfor | | know everyone is joking about the Brexit 23 Jun 2016, | Catford, 0 | neutral
d thunderstorm but has anyone looked outside 02:37-CEST | SE6
recently...
Stormkat45 | RT @sturdyAlex: Selina Scott's case for #Brexit after 23 Jun 2016, 101 | negative
4 Sheila Hancock's case for #Remain is like eating the 02:37 - CEST
best steak and then eating the pa€|
SandraZucc_ | Aslush fund paying off countries to try and stop a tidal | 23 Jun 2016, 0 | positive
arol wave Merkel. We're be calling you Canute 02:37 - CEST
https://t.co/CrRHEj4PAp #Leave #Brexit
INVUQT RT @TheRebelTV: Is #Europe dying? Is 'Identitarian' 23 Jun 2016, | Canada 25 | negative
movement the cure? @Lauren_Southern 02:37 - CEST
https://t.co/OKMKlOsqJs #tcot #Brexit
https://t.co/a€ |
mjcooper10 | RT @jpublik: That #Brexit manifesto in Private Eye 23 Jun 2016, | England 2323 | negative
1 #VoteRemain #EUref https://t.co/QU1fjwvk6G 02:37 - CEST
Greg Smith | RT @Stop_The_EU: Freedom to remove all EU fishing | 23 Jun 2016, 177 | positive
quotas, revoke the CFP & rebuild Britain's once 02:37 - CEST
thriving fishing industry
#Brexit https:a€ |
Hammers10 | RT @LeaveEUOfficial: .@ ElizabethHurley is voting 23 Jun 2016, | as’ 380 | positive
10Alex LEAVE tomorrow are you? #Brexit #VoteLeave #EUref | 02:37-CEST | fantastic
https://t.co/va7 IMYUtMK Harlow
as’
Spent_Brass | a™ 23 Jun 2016, | United 0 | positive
#LetsGo! 02:37-CEST | States,
@BREXIT: #IndependenceDay for @Britain? Wiscons
https://t.co/DiDC3KCwd6 via @YouTube in
moneyspinn | RT @Nin_Matharu: UK EU Referendum 2016 Why I'm | 23 Jun 2016, | BIRMIN 2 | neutral
er Voting #Brexit https://t.co/slsTw2Z3Pc 02:37 -CEST | GHAM,
UK
piedmontia | RT @XxPLWxxX: PLEASE RT!! 23 Jun 2016, | Athens, 168 | positive
ni1 Juncker confirms there'll be NO reform if we stay in 02:37 -CEST | TX
the EU https://t.co/yqokYbJQGH
We absolutely MUST #Brexit #V0a€ |
Henayti RT @liputan6dotcom: Inggris Gelar Referendum 23 Jun 2016, | Tangera 1|NA
‘Brexit' Hari Ini https://t.co/HcD3S8AVIT 02:37 - CEST | ng,
https://t.co/GeQ9tsrU6D Indonesi
a

HOUSE_OVERSIGHT_011176
"
IMAGES-005-HOUSE_OVERSIGHT_020315.txt,"163

The NSA’s system administrators were, as the threat officer pointed out, very different from
the traditional military employees at the NSA. They were usually civilians, who effectively served
as repair-men for complex computer systems at the NSA. Moreover, many of them had not been
directly hired by the NSA. Instead, their recruitment had been privatized to outside contractors.

This outsourcing had deep roots tracing back to the Second World War Ed Booz, the
founder of Booz Allen Hamilton, obtained contracts to help manage ship construction from the
US Navy. After the war ended he sought contracts for his firm in classified work. These
contracts grew in size as the NSA needed more and more system administrators and other
information technologists to manage the computer networks. These system administrators
needed to be given special privileges to do their service job. One such privilege allowed them to
bypass password protection. Another privilege allowed then to temporarily transfer data to an
external storage device while they repaired computers. These two privileges greatly increased the
risk of a massive breach. Seeing them as the weak link if the chain, the threat officer wrote in the
report that “system administrators are likely to be increasingly targeted by foreign intelligence
services because of their special access to information.”

Before the computerization of the NSA, the threat officer noted that code clerks and other low-
level NSA communicators had been the target of adversary intelligence services. But the
increasing reliance on computer technicians presented foreign intelligence services with much
richer targets. He predicted that they would adapt their recruiting to this new reality. Specifically,
he argued that adversary intelligence services would now focus their attention on system
administrators. “With system administrators,” he said, “the situation is potentially much worse
than it has ever been with communicators.” The reason: “System administrators can so easily, and
quickly, steal vast quantities of information.”

He further suggested that since system administrators are often drawn from counterculture of
hacking, they are more likely to be vulnerable to an adversary service using a fake identity for its
approach, or a “false flag.” A “false flag” was a term originally applied to pirate ship that
temporarily hoisted any flag that would allow it to gain close proximity to its intended prey but it
modern times describes a technique employed by espionage service to surreptitiously lure a
prospect. As will be more fully discussed in the next chapter, false flags were a staple used by the
KGB in espionage recruitments during the Cold War. They were usually employed when a target
for recruitment was not ideologically disposed to assisting the intelligence service. To overcome
that problem, recruiters hide their true identities and adopt a more sympathetic bogus one. In
1973, for example, the KGB, working through one of its agents in the US Navy, used the false
flag of Israel, to recruit Jerry Alfred Whitworth, who served as a communications officer with a
top secret clearance for the Navy. Like many other KGB recruits, Whitworth came from a
broken family, dropped out of a high school, took technical courses and got a job asa
communications officer. He was not disposed to working for Russia. But he was willing to steal
enciphered and plain text cables to help in the defense of Israel. After he was thoroughly
compromised by his espionage work, he was told by the KGB recruiter that he was actually
working for Russia, but, by this time, he was too deeply compromised to quit. He continued his

HOUSE_OVERSIGHT_020315
"
IMAGES-005-HOUSE_OVERSIGHT_019594.txt,"106 | HOW AMERICA LOST ITS SECRETS

tacted the consulate of Iceland while he was in Hong Kong. “We had
heard nothing from Snowden,” an Iceland government official told
Vanity Fatr.

Snowden also did not contact the government of Ecuador while
in Hong Kong. In mid-June, while Harrison was laying down false
tracks for Snowden in Hong Kong, Assange in London asked Fidel
Narvaez, who was a friend of his and the legal attaché in the Lon-
don embassy of Ecuador, to issue a document that Snowden could
use. But this document was not delivered to Snowden in Hong Kong
(and it was later invalidated by Ecuador). There are no direct flights
to Ecuador from Hong Kong. If Snowden had really planned to go to
Ecuador without stopping in a country allied with the United States,
he would have had to fly to Cuba. He would need a Cuban travel
document to do that, which he could have obtained from the Cuban
consulate anytime during his month in Hong Kong. But he did not
obtain it. Nor did he acquire a visa to go to any other country in
Latin America or elsewhere while in Hong Kong. So where was he
headed?

© Whatever foreign government with which Snowden was deal- ©
ing earlier presumably did not have an extradition treaty with the
United States. Almost all other countries that did not have active
extradition treaties with the United States could not be directly
reached by air. With three notable exceptions, the flights to most of
these countries had stopovers in a country that was an ally of the
United States, where officials could seize Snowden. The three excep-
tions were China, North Korea (via China), and Russia.

The only one of these three countries that Snowden is known
to have had contact with directly during his thirty-three-day stay
in Hong Kong was Russia. The Russian president, Vladimir Putin,
revealed these contacts in a televised press briefing in September
2013. Putin did not provide the date of these contacts, but he pro-
vided an intriguing clue. Snowden was identified to him, according
to Putin, not by name but merely as an “agent of special services.”
If his name was not given to Putin, it might have been because
Snowden’s first meeting with the Russians had taken place before
Snowden became a household name on June 9, 2013.

For his part, Snowden was evasive when discussing his con-

| | Epst_9780451494566_2p_all_r1.z.indd 106 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019594
"
IMAGES-005-HOUSE_OVERSIGHT_018852.txt,"Land Description and Analysis 41

Site Plan

TR

ta

IGY American Yacht Harbor Marina

HOUSE_OVERSIGHT_018852
"
IMAGES-012-HOUSE_OVERSIGHT_032588.txt,"Sent: 9/9/2017 4:30:28 PM

To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

are we meeting in new york?
Sent from my iPhone

On Sep 9, 2017, at 7:16 PM, jeffrey E. <jeevacation@gmail.com> wrote:

is this some sort of perverted question :) 12 american. of course

On Sat, Sep 9, 2017 at 5:40 PM, {aE wrote:

what is your shoes size if you dont mind me asking?
Sent from my iPhone

On Sep 9, 2017, at 4:30 AM, jeffrey E. <jeevacation@gmail.com> wrote:

I think trump cut the legs off your guy . He would like to take all the credit . If there is a deal or be seen to be
strong on terror

On Sat, Sep 9, 2017 at 2:34 AM jeffrey E. <jeevacation@gmail.com> wrote:
See you I in. Ew york thurs?

On Fri, Sep 8, 2017 at 11:48 PM i wrote:

tamem just called mbs .. he want to sit and talk .. breakthrough

Sent from my iPhone

On Sep 8, 2017, at 1:33 PM, jeffrey E. <jeevacation@gmail.com> wrote:

I will get larson to call you

On Fri, Sep 8, 2017 at 12:26 PM i wrote:

i will bring you some kuwaiti gifts but not food@
Sent from my iPhone

On Sep 8, 2017, at 11:52 AM, jeffrey E. <jeevacation@gmail.com> wrote:

what is your schedule in new york how long will you be there?

On Fri, Sep 8, 2017 at 9:09 AM, i wrote:
things look very bad in the gulf .. my feeling trump do not want to end it

Sent from my iPhone

HOUSE_OVERSIGHT_032588
"
IMAGES-011-HOUSE_OVERSIGHT_031239.txt,"From: Lawrence Krauss

Sent: 12/11/2017 5:53:12 AM

To: nancy dah!

cc: Lawrence Kraus [i

Subject: Fwd: URGENT: BuzzFeed News inquiry re allegations of sexual harassment

Attachments: DA866543-7401-4A5A-8E50-FD32E33A50EC.png

Importance: — High

First draft:

It is hard to know how to respond to a list of false and/or distorted allegations, along with misleading statements
on your part. Needless to say, I treat people I interact with with respect, and I work hard to support and mentor
students, colleagues, and members of the general public. I do not sexually harass people. If the purpose of your
reporting is to somehow argue that that Universities and other institutions are lax in dealing with well known
individuals like myself, then in fact the situation is quite the opposite. My high public profile opens me up to
more scrutiny at these institutions, not less, and it also opens me up to a host of outside complaints and
allegations that other faculty do not receive, each of which the University has to respond to. The fact that I have
remained a professor in all Universities with which I have been associated, in good standing, and also an officer
or an invited speaker at organizations like CFI, which have strict harassment policies, is a confirmation of the
fact that they trust my behavior. I was asked to be an honorary director of CFI, and invited to their last 3
meetings to speak, specifically because, as they have written me after the fact, the attendees universally
appreciated my talks, my courtesy, and graciousness in spending time with the attendees. If the purpose of your
report is to impugn my integrity or suggest I have a history of harassment, that too is false. As noted in one of
your ‘miscellaneous facts’, as a scientist I try and remain skeptical, and rely on empirical evidence, rather than
allegations and innuendo. J also try and judge the facts in context. The fact that Universities and other
organizations employ me or have me on their boards, or invite me to meetings is because they value my
contributions and my actions.

Your specific allegations are false or distorted. Item 1 refers to a consensual encounter in my hotel room in
2006 where we mutually decided, in a polite discussion in fact, that taking it any further would not be
appropriate, and had respectful encounters afterwards. I cannot comment on item 3, which involves an
anonymous 3rd party claim, because I know nothing about it, and it was not taken seriously enough to result in
any university action. Item 4 is confusing. Are you saying that because I decided I didn’t want to go out to a
bar with a group of attendees that I was harassing them? The second part is false. I don’t do that. Re incident
5: The ‘female companion’ in this case is my wife, who can attest to the fact that the claim is false, which is
what I wrote in response to the blog in question, causing it to be taken down.

It is worthwhile responding to Item 2 and 6 in more detail,

Re item 2: the student in question was interested in science communication, and on dozens of occasions came
to me or wrote to me with questions. When she asked about advice for after graduation I DID tell her she was
different than the other students in her year. The rest of them were interested in going on to graduate school,
but she was interested in science communication so I told her that she might want to take a different path. Since
she was the only woman in her year, as I recall, I did ask her on one of these occasions if that made it difficult
for her in any way. I asked, because as a faculty member I was interested, and also because as someone she had
asked for career advice from I wanted to know if that made a difference to her. Re asking her for dinner.. I have
gone back over emails from that period. I have numerous requests from her to go for coffee to talk, which I
usually had to turn down because I was busy, including several occasions where she asked me to have coffee
with her off campus to talk, and I politely declined. I did let her accompany me off campus one time to watch
me do a BBC interview because she specifically requested it. I did and do have coffee and meals with students

HOUSE_OVERSIGHT_031239
"
IMAGES-003-HOUSE_OVERSIGHT_014827.txt,"Case 1:15-cv-07433-RWS Document 751-11 Filed 03/17/17 Page1of8

EXHIBIT K

HOUSE_OVERSIGHT_014827
"
IMAGES-007-HOUSE_OVERSIGHT_023006.txt,"Alexander Acosta has been criticized for his handling of the Jeffrey Epstein case as
U.S. attorney. He later became the dean of Florida International University’s law
school and, later still, President Trump’s secretary of labor. Miami Herald file photo

October: With the non-prosecution agreement still being debated, Acosta meets
with Epstein lawyer Jay Lefkowitz at the West Palm Beach Marriott on Okeechobee
Road to discuss finalizing a deal. Among the terms agreed upon: that the victims
would not be notified, that the deal would be kept under seal and all grand jury
subpoenas would be canceled.

HOUSE_OVERSIGHT_023006
"
IMAGES-008-HOUSE_OVERSIGHT_025354.txt,"Honorable Mark Filip
May 19, 2008
Page 2

By way of background, we were informed by Mr. Acosta that, at his request, CEOS
would be conducting a review to determine whether federal prosecution was both appropriate
and, in his words, “fair.” That is not what occurred. Instead, CEOS has now acknowledged that
we had raised “many compelling arguments” against the ISAO’s suggested “novel application”
of federal law in this matter. Even so, CEOS concluded, in minimalist fashion, that “we do not
see anything that says to us categorically that a federal case should not be brought” and that the
ULS. Attorney “would not be abusing his prosecutorial discretion shouid he authorize federal
prosecution of Mr. Epstein” thus delegating back to Mr. Acosta the decision of whether federal
prosecution was warranted (emphasis added), Rather than assessing whether prosecution would
be appropriate, CEOS, using a low baseline for its evaluation, determined only that “it would not
be impossible to prove .. .” certain allegations made against Mr. Epstein. The CEOS review
failed to address the significant problems invoiving the appearance of impermissible selectivity
that would necessarily result from a federal prosecution of Mr, Epstein.

We respect CEOS’s conclusion that its authority to review “misconduct” issues was
precluded by Criminal Division practice. We further respect CEOS’s view that it understood its
mission as significantly limited. Specifically, the contemplated objective was to determine
whether the USAO would be abusing its discretion by bringing a federal prosecution rather than
making its own de novo recommendations on the appropriate reach of federal law. However, we
respectfully submit that a full review of all the facts is urgently needed at senior levels of the
Justice Department. In an effort to inform you of the nature of the federal investigation against
Mr, Epstein, we summarize the facts and circumstances of this matter below.

The two base-level concerns we hold are that (1) federal prosecution of this matter is not
warranted based on the purely-local conduct and the unprecedented application of federal
statutes to facts such as these and (2) the actions of federal authorities are both highly
questionable and give rise to an appearance of substantial impropriety. The issues that we have.
raised, but which have not yet been addressed or resolved by the Department, are more than
isolated allegations of professional mistakes or misconduct. These issues, instead, affect the
appearance and administration of criminal justice with profound consequences beyond the
resolution in the matter at hand.

* . * *

In a precedent-shattering investigation of Jeffrey Epstein that raises important policy
questions—and serious issues as to the fair and honorable enforcement of federal law-—-the
USAO in Miami is considering extending federal law beyond the bounds of precedent and
reason. Federal prosecutors stretched the underlying facts in ways that raise fundamental
questions of basic professionalism. Perhaps most troubling, the USAO in Miami, as a condition
of deferring prosecution, required a commingling of substantive federal criminal law with a
proposed civil remedy engineered in a way that appears intended to profit particular lawyers in

A001439

HOUSE_OVERSIGHT_025354
"
IMAGES-004-HOUSE_OVERSIGHT_018228.txt,"place at

boulders."",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1501528786603"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-31T19:19:46.596Z"",""messagetype"":""Event/Call"",""version"":1501528786603.0,""
content"":""<partlist type=\""ended\"" alt=\""\"">\n <part identity=\""jeevacation\"">\n <name>jeevacation</name>\n
<duration>23</duration>\n </part>\n <part identity=\""lawkrauss\"">\n <name>Lawrence Krauss</name>\n
<duration>23</duration>\n
</part>\n</partlist>"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1501528763572"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-31T19:19:23.565Z"",""messagetype"":""Event/Call"",""version"":1501528763572.0,""
content"":""<partlist type=\""started\"" alt=\""\"">\n <part identity=\""jeevacation\"">\n <name>jeevacation</name>\n
</part>\n <part identity=\""lawkrauss\"">\n <name>Lawrence Krauss</name>\n
</part>\n</partlist>"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1501528580585"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-31T19:16:20.579Z"",""messagetype"":""Event/Call"",""version"":1501528580585.0,""
content"":""<partlist type=\""ended\"" alt=\""\"">\n <part identity=\""jeevacation\"">\n <name>jeevacation</name>\n
<duration>677</duration>\n </part>\n <part identity=\""lawkrauss\"">\n <name>Lawrence Krauss</name>\n
<duration>677</duration>\n
</part>\n</partlist>"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1501527903028"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-31T19:05:03.026Z"",""messagetype"":""Event/Call"",""version"":1501527903028.0,""
content"":""<partlist type=\""started\"" alt=\""\"">\n <part identity=\""jeevacation\"">\n <name>jeevacation</name>\n
</part>\n <part identity=\""lawkrauss\"">\n <name>Lawrence Krauss</name>\n
</part>\n</partlist>"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1501264249116"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-28T17:50:49.11Z"",""messagetype"":""Event/Call"",""version"":1501264249116.0,""
content"":""<partlist type=\""ended\"" alt=\""\"">\n <part identity=\""jeevacation\"">\n <name>jeevacation</name>\n
<duration>536</duration>\n </part>\n <part identity=\""lawkrauss\"">\n <name>Lawrence Krauss</name>\n
<duration>536</duration>\n
</part>\n</partlist>"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1501263713374"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-28T17:41:53.324Z"",""messagetype"":""Event/Call"",""version"":1501263713374.0,""
content"":""<partlist type=\""started\"" alt=\""\"">\n <part identity=\""jeevacation\"">\n <name>jeevacation</name>\n
</part>\n <part identity=\""lawkrauss\"">\n <name>Lawrence Krauss</name>\n
</part>\n</partlist>"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1500406932742"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-18T19:42:12.727Z"",""messagetype"":""Text"","" version"": 1500406932742.0,""
content"":""Hey.. thanks for Valdson.. he is a lovely fellow.. really enjoyed spending time with him, and he was a great
help."",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1499812954614"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-11T22:42:34.568Z"",""messagetype"":""RichText"",""version"":1499812954614.0,""
content"":""ok.. in france now.. we can talk next week.. after we deal with trump. <ss type=\""smile\"">:)</ss> Thanks for
the

driver!"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"","" properties"" :null,""amsreferences"":null}, {""id"":""
1499333820278"",""displayName"":null,""originalarrivaltime"":""2017-07-06T09:37:00.28Z"",""messagetype"":""Text"",""version"":
1499333820278.0,""content"":""lets be creative. not sure , if you are just asking for more. or a new
formula."",""conversationid"":""8:lawkrauss"",""from"":""8:jeevacation"",""properties"":null,""amsreferences"":null}, {""id"":""
1499295703442"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-05T23:01:43.434Z"",""messagetype"":""RichText"",""version"":1499295703442.0,""
content"":""oh yeah.. and I like the idea of you matching ASU.. could you do that? <ss
type=\""smile\"">:)</ss>"",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"" :null,""amsreferences"":null}, {""
id"":""1499295293014"",""displayName"":""Lawrence
Krauss"",""originalarrivaltime"":""2017-07-05T22:54:53.017Z"",""messagetype"":""RichText"","" version"": 1499295293014.0,""
content"":""don&apos;t forget my dream app idea.. and don&apos;t steal it. <ss type=\""smile\"">:)</ss> anyway, I do think
it would be fascinating to make it happen. lets talk about how to make that happen. I think we could learn some very
interesting things that could only be learned that
way."",""conversationid"":""8:lawkrauss"",""from"":""8:lawkrauss"",""properties"":null,""amsreferences"":null}, {""id"":""
1499291829188"",""displayName"":""Lawrence

Krance!"" ""aricinalarrivaltime"" ""90177-0677 1-87-10 1897"" ""maccacdatynal ""Eyant/Call"" ""yarcian"" 1400701270188 0""

HOUSE_OVERSIGHT_018228

yu ""
7 9
"
IMAGES-012-HOUSE_OVERSIGHT_032563.txt,"From: CSC

Sent: 8/24/2017 5:22:16 AM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Questions for article

Importance: — High
Jeffrey,

Huffington Post is almost done with their article. They need couple answers to use them for your quotes. Please
see below.

Questions for you:

1. As aresult of Trump's budget cuts, more scientists are turning to private donors for funds. How have you
helped these scientists thrive during this time in particular?

2. Why do you think it’s important to have funded the Program for Evolutionary Dynamics and how will this
program help us in the future?

Questions for a scientist (can I ask Martin to answer and quote him)?
1. How has Jeffery Epstein’s donations helped you advance your research?

Let me know if you have any questions or comments. Would appreciate speedy response.

Thank you!

HOUSE_OVERSIGHT_032563
"
IMAGES-003-HOUSE_OVERSIGHT_014614.txt,"Notes

1. Jeremy J. Siegel, Stocks for the
long Run: The Definitive Guide
to Financial Market Returns
and Long-Term Investment
Strategies, McGraw-Hill, 1994.

2. Lisa Beilfuss, “As Dow Nears
20000, Stock-Market Believer
Jeremy Siegel Gets a ‘Told
You So’ Moment,” Wail Street
Journal, December 10, 2016.

3. Throughout the text, “past-
WWII cycles” refers to
expansions beginning in G2
1954. We exclude two prior
expansions, beginning in Q4
1945 and Q4 1949, to ensure
consistent data across all
variables used to analyze
the duration and strength
of recoveries (some data
series are only available since
1950) as well as to avoid
contaminating summary
statistics given idiosyncratic
economic policies that followed
the end of WWII (such as the
sharp reduction in military
spending or the Gl Bill). Gur
takeaway from the analysis
would not change if 1945
and 1949 were included for
the series for which data is
available.

4. Edward Luce, “Goodbye to
Barack Obama’s World,”
Financial Times, November 27,
2016.

5. John H. Cochrane, “Ending
America’s Slow-Growth
Tailspin,” Wall Street Journal,

ay 2, 2016.

6. artin Wolf, “New President
as an Economic In-Tray Full
Problems,” Financial Times,
avember 8, 2016.

1 ichael Heath, “Summers
Urges U.S. ta Spend 1% of GDP
Annually on Infrastructure,”
Bloomberg, October 18, 2016.

8. Robert J. Gordon, The Aise and
Fail of American Growth: The
US. Standard of Living Since the
Civil War, Princeton University
Press, 2016.

2. arc Levinson, An Extraordinary
Time: The End of the Postwar
Boom and the Return of the
Ordinary Economy, Basic Books,
2016

10. Martin Jacques, When China
Rules the World: The End of the
Western World and the Birth of
a New Global Order, Penguin
Press, 2009.

11. N. Gregory Mankiw, “One
Economic Sickness, Five
Diagnoses,” New York Times,
June 17, 2016.

fs) as.

20.

22.

23.

24.

Carmen M. Reinhart and
enneth S. Rogoff, This Time
is Different: Eight Centuries
of Financial Folly, Princeton
University Press, 2011.

Alvin H. Hansen, “Capital
Goods and the Restoration of
Purchasing Power,” Academy of
Political Science, 1934.

Alvin H. Hansen, “Economic
Progress and Declining
Population Growth,” American
Economic Review, 1939.

Lawrence H. Summers,
“Remarks,” speech delivered at
he Fourteenth Jacques Polak
nternational Monetary Fund
Annual Research Conference,
Washington, D.C., November
8, 2013.

Jay Shambaugh, “How
Should We Think About This
Recovery?” Macroeconomic
Advisers’ 26th Annual Policy
Seminar, Washington, D.C.,
September 14, 2016.

ichael E. Porter, Jan W.
Rivkin, Mihir A. Desai and
anjari Raman, “Problems
Unsolved and a Nation
Divided,” Harvard Business
School, September 2016.

Council of Economic Advisers,
“The Long-Term Decline in
Prime-Age Male Labor Force
Participation,” June 2016.

bid.

Etienne Gagnon, Benjamin

. Johannsen and David
Lopez-Salido, “Understanding
he New Normal: The Role

of Demographics,” Board

of Governors of the Federal
Reserve System, October 3,
2016.

itra Toossi, “A Century of
ange: The U.S. Labor Force,
950-2050,"" Monthly Labor
Review, Bureau of Labor
Statistics, May 2002.

Donald J. Trump, “Remarks,”
speech delivered at the New
York Economic Club, September
15, 2016.

Chair Janet L. Yellen, “Current
Conditions and the Outlook

or the U.S. Economy,” June 6,
2016. Vice Chairman Stanley
Fischer, “Remarks on the U.S.
Economy,” August 21, 2016.

Robert J. Gordon, The Rise and
Fail of American Growth: The
US. Standard of Living Since the
Civil War, Princeton University
Press, 2016.

ce oe

25.

26.

27.

28.
29.

30.

32.

33.

34.
35:

36.

Si.

38.

Stephanie H. McCulla, Alyssa
E. Holdren and Shelly Smith,
“Improved Estimates of the
National Income and Product
Accounts: Results of the 2013
Comprehensive Revision,”
Bureau of Economic Analysis,
September 2013.

Paul Krugman, fhe Age of
Diminished Expectations: U.S.
Economic Policy in the 1990s,
IT Press, 1990.

Lee Branstetter and Daniel
Sichel, “Seven Reasons to Be
Optimistic About Productivity,”
orthcoming.

bid.
Olivier Blanchard, “The State
of Advanced Economies and
Related Policy Debates: A Fall
2016 Assessment,” Peterson
nstitute for International
Economics, September 2016.

artin Feldstein, “Remarks,”
speech delivered at the

Brookings Institution
Conference on Productivity,
Washington, D.C., September
8, 2016.

Jan Hatzius, “Productivity
Paradox v2.0 Revisited,”
Goldman Sachs Global
nvestment Research,
September 2, 2016.

David M. Byrne, Stephen D.
Qliner and Daniel E. Sichel,
“How Fast Are Semiconductor
Prices Falling?” Federal Reserve
Board, March 2015.

Hal Varian, “A Microeconomist
Looks at Productivity: A View
rom the Valley,” September
2016.

bid.

Hal Varian, “Notes on
Productivity and Intangibles,”
avember 2016.

Chad Syverson, “Challenges to

ismeasurement Explanations
or the U.S. Productivity
Slowdown,” University of
Chicago Booth School of
Business, June 2016.

David M. Byrne, John G.
Fernald and Marshall B.
Reinsdorf, “Does the United
States Have a Productivity
Slowdown or a Measurement
Problem?” Brookings
nstitution, March 1, 2016.

David Byrne and Carol Corrado,
“ICT Prices and ICT Services:
What Do They Tell Us About
Productivity and Technology?”
Conference Board, July 2016.

3g:

43.

44.

45.

46.

4].

48.

4g.

50.

52.

David Byrne, Wendy Dunn and
Eugenio Pinto, “Prices and
Depreciation in the Market for
Tablet Computers,” Federal
Reserve Board, December 2016.

Greg Ip, “The Economy's Hidden
Problem: We're Out of Big
deas,” Wail Street Journal,
December 5, 2016.

Johan Norberg, Progress: Ten
Reasons to Look Forward to the
Future, Oneworld Publications,
2016.

Fredrik Erixon and Bjorn Weigel,
The Innovation illusion: How

So Little is Created by So

Many Working So Hard, Yale
University Press, 2016.

. Gregory Mankiw, “One
Economic Sickness, Five
Diagnoses,” New York Times,
June 17, 2016.

Alan 8S. Blinder and Mark W.
Watson, “Presidents and the
U.S. Economy: An Econometric
Exploration,” Princeton
University, July 2014.

Jay Shambaugh, “How
Should We Think About This
Recovery?” Macroeconomic
Advisers’ 26th Annual Policy
Seminar, Washington, D.C.,
September 14, 2016.

Lawrence H. Summers, “When
he Best Umps Blow a Call,”
ashington Post, July 14, 2016.

artin Neil Baily and Nicholas
ontalbano, “Why Is US
Productivity Growth So Slow?
Possible Explanations and
Policy Responses,” Brookings

nstitution, September 1, 2016.

evin Daly, “Arrested
Development: EMs Are Still
Converging, but Productivity
Growth Is Lower Everywhere,”
Goldman Sachs Global
nvestment Research,
December 20, 2016.

ally E. Reynolds and Philip A.
Wallach, “The Fiscal Fights of
he Obama Administration: An
nteractive Timeline,” Brookings
nstitution, December 8, 2016.

As measured by the Goldman
Sachs Financial Conditions
ndex.

“Default Monitor,” JP Morgan,
December 1, 2016.

nvestment Strategy Group,
Outlook: The Last Innings,
January 2016.

HOUSE_OVERSIGHT_014614
"
IMAGES-009-HOUSE_OVERSIGHT_028239.txt,"/ BARAK / 105

Yet the turnout was the lowest in Israeli history. Arik received fewer votes than I
had in 1999. Around half of the 1.8 million people who had supported me stayed at
home.

I conceded defeat after the first exit polls and said I would be stepping down as
head of the Labor Party. Still, since the election had been only for Prime Minister,
Labor remained the largest party in the Knesset. Mathematically, Arik might be
able to cobble together the required 61-seat majority with an assortment of smaller
parties. But without Labor as ballast, his government would be even more
precarious than mine. When I triggered the election, he’d let it be known that if he
won, he hoped to include Labor in his government, with me as his Defense
Minister. Even though I’d announced I was stepping aside, he phoned me the
morning after the election to make that argument again. He said Israel needed a
strong government, especially to confront the escalating violence. Having a person
with my background, whom he knew well and trusted, in the defense portfolio was
important. I didn’t say yes. Unfortunately, I failed to do what I should have done: I
didn’t immediately say no.

When the public learned about Sharon’s interest in a unity government, Labor
descended into bickering. Some of my former ministers, like Yossi Beilin and
Shlomo Ben-Ami, were against the idea of joining any Likud-led government.
They were especially disgusted by the prospect of doing so under Arik, the
architect of the 1982 Lebanon War. Most of the Labor’s central committee did
seem in favor of joining. But given the scale of my election defeat, many wanted
do so without me. For a few days, Arik kept phoning me. I did feel that the
substance of the arrangement he suggested made sense. But over that first week, I
realized that, understandably, he had little interest in addressing my policy
concerns. I decided to focus instead on ensuring a properly organized transition to
a new Labor party leader, and publicly confirmed that I would indeed be resigning.

Several weeks after Arik formed his government — including Labor, with Simon
Peres as one of four deputy prime ministers — he invited me to his office. He
wanted to ask my views on a specific security question. That took barely 15
minutes. But I raised another issue that I argued would have more far-reaching
implications. It was the idea of building the security fence along the West Bank.
I’d tried to make the case for doing so during the election campaign, and I’d lost
the election. “Now I’m turning to you. When I left office, 39 Israelis had been
killed in the terror attacks. Now, there are 70. When the number reaches 700,

391
HOUSE_OVERSIGHT_028239
"
IMAGES-006-HOUSE_OVERSIGHT_021258.txt,"viewed as external causes. Forces
operating on human bodies to produce
action, in contrast, are viewed as
reflective of purpose, driven not only by
external causes but, more importantly,
by abstract reasons such as goals,
aspirations, and destiny. The meaning-
making proclivities of humans are so
irrepressible that when external forces
operate on human bodies to produce a
significant impact on humankind, even
the causes of the actions of these human
bodies tend to be regarded in terms of
more abstract purposes and reasons. The
anthropomorphic description of
hurricanes is a caSe in point.

Actions of objects have causes,
whereas actions of humans have reasons.
Invisible forces that operate on humans
but that appear to operate independent of
human agency have been the subject of
religious speculations for centuries.
These invisible forces include: internal
neural and biological forces (e.g.,
homeostatic processes, autonomic
activity) that exert regulatory forces
which are largely hidden from conscious
experience or control; strong emotions
that seem to arise apart from conscious
human intention (e.g., rage, fear,
empathy); phenomena such as dreams or
hallucinations that seemingly operate
independent from the human will;
motivations, biases, inclinations,
predilections (such as
anthropomorphism, ambiguity
avoidance, preference for simple
explanations, etc.) whose presence is so
universal that, like language, the
capacities for their development or
expression may have an evolutionary
basis; individual beliefs (such as the
belief that there is a reality outside our
head/we are not dreaming; the belief in
human freedom; in values such as
equality, etc), attitudes, preferences,

Page |12

goals, or intentions; aggregated beliefs
that result in social norms, values,
religion, culture, and social movements;
and codified forces such as decrees,
rules, alliances, and laws.

Before the enlightenment of the
18th century, many scholars believed
that thought was instantaneous and that
action was governed by an indivisible
mind separate from the body. Ifa
palpable cause for a person’s behavior
could not be identified, the Divine or
some counterpart constituted a more
agreeable explanatory construct than
invisible forces acting through
scientifically specifiable mechanisms.
Unparalleled advances in the sciences
have occurred since the dawn of the
Enlightenment, including the
development of scientific theories about
magnetism, gravity, quantum mechanics,
and dark matter that depict invisible
forces operating with measurable effects
on physical bodies. During this same
period, serious scientific research on
invisible forces acting within, on and
across human bodies was slowed and
underfunded in part because the study of
the human mind and behavior was
regarded by many in the public and in
politics as soft and of dubious validity.
The result is that many still regard the
mind and behavior as best understood in
terms of the actions of non-scientific
agents, such as a god or gods, and the
manifestations of mental illness as the
result of a failure of individual will —a
denial of the possibility that invisible
forces (that is, forces that are tractable
scientifically but of which a person is
not normally aware) can affect mind and
behavior.

One could try to explain away
the gap in scientific knowledge about
invisible forces by referring to the
conception of science and religion as

HOUSE_OVERSIGHT_021258
"
IMAGES-002-HOUSE_OVERSIGHT_013532.txt,"persistent efforts at insufflation. The maintenance of neurotic defenses and

eccentric habits can be fatiguing.

The children at Kids in Distress Residential and Day Care Center in
Southeast Florida, called KIDS, tended to be small for their ages. As a psychiatric
consultant to the Center, | often summarized an evaluation of both their physical
and intellectual development as “delayed.” Looking like almost completely formed
adult-like personalities, however, they were developmentally “advanced.” | heard in
a child analytic seminar at the Psychoanalytic Institute of Southern California that
traumatized children often hurry through the dangerous developmental ambiguity of
openness and flexibility to the predictable, fixed attitudes and behavior of adults. It
was common to find prematurely wise young children serving as parents in
chaotically dysfunctional families. In residence at the Center, set free from their
pathogenic homes by social workers and family law judges, these premature
caregivers lost sleep worrying about who was taking up their obligations to the
sisters and brothers left behind.

Trauma-induced possibility pruning was often obvious in the young refugees
at Kids in Distress. Having been soaked in alcohol containing, nutritionally deficient,
crack-laced amniotic fluid, young babies were then left in dirty cribs behind locked
doors to cry themselves into exhausted despair. Their mothers were working the
streets for drugs. The children that survived often demonstrate personality styles
that are reduced in variety. They came to use a few, individualized, and stereotyped
techniques for survival. Some children’s insulated detachment was_hollowly
disguised as interpersonal caring. Others used driven and rigid compulsion to
maintain the appearance of conscientious good citizenship. For some children,
paranoid thoughts were realistic expectations. .

Arriving at the Center | heard “Dr. Arnold! Dr. Arnold!’ in high-pitched
screams. Several children ran up to me at once, demanding to be held. Some

leaped into my arms for a hug. Trying to get and hold their visual gaze was another

32

HOUSE_OVERSIGHT_013532
"
IMAGES-005-HOUSE_OVERSIGHT_018661.txt,"in the way that you describe.

But I experienced all of those feelings as a child. What you described is precisely what it
feels like when an abuser truly lets loose and keeps going until ""it"" breaks, until there is
that moment of catharsis for both the beaten and the person doing the beating. In my
experience, those relationships are like playing along the end of the Grand Canyon:
people fall in, and they die.

Now, I am willing to believe two things: one, it is possible that my mother and other
abusers are actually engaged in a form of BDSM rape when they beat the people that
they love. Just as sex is the overpowering and taking of something that should be
beautiful and intimate, so beating a loved one to catharsis might just be the same sort of
thing. Perhaps that is something that abuse experts should look at.

Iam also willing to believe that you have an invisible fence as you play along the edge of
your own personal Grand Canyon. I am willing to believe that you know how to be there
without falling into the abyss. But if that is the case -- that it is safe for you out there, and
that I simply need to accept that. Then I will ask you to accept the fact that I will need to
go behind the van and toss my lunch.

At first I was frustrated by that comment, because all I could see was someone saying ""I
want to throw up when I read about your sexuality,"" and I was like: grrr. But now I look
at that comment, and I see such important points, points that are utterly crucial to the
developing language that distinguishes S&M from abuse.

I will say first that I have never personally survived that kind of abuse. But I have
received emails from people asking me to write about this, over and over, and I hope that
I can help those folks by offering my thoughts. I have also spoken to some abuse experts
who tell me that, behind closed doors, they do talk about this: they discuss how the
existence of real desire, real catharsis, and real intimacy within an abusive context can
look terrifyingly similar to descriptions of S&M encounters.

Rape survivors of all genders sometimes experience physical pleasure and even orgasm
while being assaulted. A paper about this was published in the 2004 Journal of Clinical
Forensic Medicine, and there are plenty of first-person accounts around the Internet.
Here's an explicit and tremendously saddening quotation from one of them:

I kept physically fighting him off and telling him that though I respected him as my pastor
and as a father figure I wanted him to stop. He pushed me, tore my clothes and raped me.
... [The pain was incredible as they were very rough and forceful. After what seemed like
forever I blacked out. I remember the pastor shaking me hard and slapping me across the
face. He then shoved down my throat ten or so Excedrin (a medicinal mixture of pain
killer and caffeine) so that I would stay awake.

One of the most disturbing things that happened that night is that I had an orgasm.
Despite years of marriage, it was my first orgasm ever. It really confused me. I thought
some part of me must be mentally sick to have experienced the pleasure of an orgasm
during this horrific trauma.

Here's the thing about consent: orgasm is not consent. Physical pleasure is only the

HOUSE_OVERSIGHT_018661
"
IMAGES-003-HOUSE_OVERSIGHT_016003.txt,"Chapter 15

FREE WILL

(D0 You THINK | >

| | BLATE PEOPLE FOR

CONTROLS WHAT |
| PEOPLE DO?

( OF COURSE IT IS. BUT (50, YOU'RE SAYING THE )
| IT'S THE PART OF THE | | “FREE WILL” PART OF |
| BRAIN THAT'S OUT || THE BRAIN 15 EXEMPT |

| FROM THE NATURAL —

Dilbert Ponders Free Will

HOUSE_OVERSIGHT_016003
"
IMAGES-001-HOUSE_OVERSIGHT_011823.txt,"/ BARAK / 66

Bet technician. I assumed that, one way or another, the Americans could listen in,
but was fairly confident we were beyond the electronic earshot of the Palestinians.
I kept myself fully informed of, but at a distance from, the specific work of our
five negotiating teams. Though I could not have stayed engaged with all of them at
the same time, I also hoped the arrangement would give them an opportunity to
explore any realistic opportunity for a breakthrough and any sign of flexibility on
Arafat’s side — without committing me until there was such flexibility.

Yet for the first couple of days of the summit, there was not only no sign of
flexibility. There was little meaningful engagement. Dennis Ross and his team
drew up a paper setting out the main issues. For those on which we differed, our
positions were marked with “I” and “P”. It wasn’t until around midnight on day-
two that the we got a first look at the American draft. The main, unhappy, surprise
was Jerusalem. This crucial issue was not marked with “T” or “P”. It said outright
that there could be two capitals, one Israeli and one Palestinian, within the city of
Jerusalem. I was not opposed to the Palestinians calling Jerusalem the capital of
their state. But even in follow-up talks after Oslo, when Yossi Beilin and Abu
Mazen had explored avenues toward a possible resolution of the Jerusalem
question, the maximum understanding was that Israel might expand the existing
city limits to accommodate the “two capital” solution. The Palestinians’ capital
would be in Abu Dis, one of the villages Arafat had asked me to hand back in May.
The way the American document was worded suggested dividing Jerusalem as it
now was: something ruled out by all Israeli politicians, of all parties, ever since
1967.

When I phoned President Clinton, he asked me to come talk. We sat on the back
terrace of his cabin, looking out incongruously on a beautifully tended golf hole
installed by Dwight Eisenhower. I told the President that after all the hours we had
spent together, I’d felt blindsided by the inclusion of a proposal on Jerusalem that
went beyond anything we’d talked about. “It was my mistake,” he replied,
obviously already aware through his negotiators of the error. He said that he’d put
pressure on his negotiators to get the document finished, and that Dennis hadn’t
had time to read it through. But it was already being fixed: the word “expanded”
would be added to the Jerusalem section. I was grateful for that, but told Clinton I
was concerned that even this “I and P” paper might have the unintended effect of
delaying any real progress. “Since it’s an American document, it gives the
Palestinians no incentive to compromise,” I said, suggesting that it might be better

352
HOUSE_OVERSIGHT_011823
"
IMAGES-006-HOUSE_OVERSIGHT_022037.txt,"CHAPTER 60

Jeffrey Epstein: July 2010

effrey Epstein was done with jail, but he wasn't done settling

suits brought by his victims. Under the conditions of his
e victims

non-prosecution agreement, he’s even paid for th
lawyers. Still, Epstein’s NPA seemed to ensure that he would not

be prosecuted agai

in the press: federal investigators were fo

leads that could result in child-trafficking charges and a ©

twenty-year sentence.

The Florida attorney general’
was against policy to confirm
ing investigation. One of Epstein’s lawyers to
that he had no knowledge of such
Epstein has fully complied with all
ments that arise from the prior procee

230

n for his crimes. Double jeopardy was work:

ing in Epstein’s favor. But in July of 2010, reports began to appear E
lowing other leads— @

5 office refused to comment. It a
or deny the existence of an ongo-
ld the Daily Beast
an investigation. “Jeffrey |
state and federal require""
dings in Palm Beach,’ Ja c

a

Goldberger said. “There ;
not and should not be
Epstein’s complete fulfillm
agreement with the feder
If there was an invest
the moment, Epstein was
to intellectual pursuits. ]
Science.com, that feature
with Jeffrey Epstein,” “T]
Jeffrey Epstein,” “Why
Epstein,” and “An Under
Jeffrey Epstein.” The latt:
Epstein takes you to the
knowledge to explore ani
the subtle, simple, and hic
universe.”

‘Jeffrey doesn’t know shit
art collector who has know

_ “Does he like to act like he
' these academic scientists —

: have any money.”

Other friends of Epstei

4 liant mind for science. Anc
E than sponsor individual sc
I €nces on Little Saint Jeff's. |
erence called Mindshift at
fheoretical physicist Murra
rons, engineers, and futt

F

HOUSE_OVERSIGHT_022037
"
IMAGES-005-HOUSE_OVERSIGHT_019219.txt,"From: Kathy Ruemmler i |

Sent: 2/11/2017 1:37:47 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

No, I ranked much much lower

Sent from my iPad

On Feb 11, 2017, at 5:57 AM, jeffrey E. <jeevacation@gmail.com> wrote:
if hes meguyver. are you marla maples?

On Fri, Feb 10, 2017 at 7:24 PM, Kathy Ruemmler hi _ wrote:
Hard to imagine. He really does remind me of mcgyver and I am suffering ptsd.

Sent from my iPad

On Feb 10, 2017, at 7:20 PM, jeffrey E. <jeevacation@gmail.com> wrote:

worse in real life and upclose.

Trump is so gross. ; Privileged - Redacted

Sent from my iPad

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note

HOUSE_OVERSIGHT_019219
"
IMAGES-002-HOUSE_OVERSIGHT_013254.txt,"338 A Glossary

e Pattern: In a CogPrime context, the term “pattern” is generally used to refer to a process
that produces some entity, and is judged simpler than that entity.

e Pattern Mining: Pattern mining is the process of extracting an (often large) number of
patterns from some body of information, subject to some criterion regarding which patterns
are of interest. Often (but not exclusively) it refers to algorithms that are rapid or “greedy”,
finding a large number of simple patterns relatively inexpensively.

e Pattern Recognition: The process of identifying and representing a pattern in some
substrate (e.g. some collection of Atoms, or some raw perceptual data, etc.).

e Patternism: The philosophical principle holding that, from the perspective of engineering
intelligent systems, it is sufficient and useful to think about mental processes in terms of
(static and dynamical) patterns.

e Perception: The process of understanding data from sensors. When natural language is
ingested in textual format, this is generally not considered perceptual. Perception may be
taken to encompass both pre-processing that prepares sensory data for ingestion into the
Atomspace, processing via specialized perception processing systems like DeSTIN that are
connected to the Atomspace, and more cognitive-level process within the Atomspace that
is oriented toward understanding what has been sensed.

e Piagetan Stages: A series of stages of cognitive development hypothesized by develop-

mental psychologist Jean Piaget, which are easy to interpret in the context of developing

CogPrime systems. The basic stages are: Infantile, Pre-operational, Concrete Operational

and Formal. Post-formal stages have been discussed by theorists since Piaget and seem

relevant to AGI, especially advanced AGI systems capable of strong self-modification.

PLN: short for Probabilistic Logic Networks

PLN, First-Order: See First-Order Inference

PLN, Higher-Order: See Higher-Order Inference

PLN Rules: A PLN Rule takes as input one or more Atoms (the “premises”, usually Links),

and output an Atom that is a “logical conclusion” of those Atoms. The truth value of the

consequence is determined by a PLN Formula associated with the Rule.

e PLN Formulas: A PLN Formula, corresponding to a PLN Rule, takes the TruthValues
corresponding to the premises and produces the TruthValue corresponding to the conclusion.
A single Rule may correspond to multiple Formulas, where each Formula deals with a
different sort of TruthValue.

e Pragmatic General Intelligence: A formalization of the concept of general intelligence,
based on the concept that general intelligence is the capability to achieve goals in environ-
ments, calculated as a weighted average over some fuzzy set of goals and environments.

e Predicate Evaluation: The process of determining the Truth Value of a predicate, embod-
ied in a PredicateNode. This may be recursive, as the predicate referenced internally by a
Grounded PredicateNode (and represented via a Combo program tree) may itself internally
reference other PredicateNodes.

e Probabilistic Logic Networks (PLN): A mathematical and conceptual framework for
reasoning under uncertainty, integrating aspects of predicate and term logic with extensions
of imprecise probability theory. OpenCogPrime’s central tool for symbolic reasoning.

e Procedural Knowledge: Knowledge regarding which series of actions (or action-combinations)
are useful for an agent to undertake in which circumstances. In CogPrime these may be
learned in a number of ways, e.g. via PLN or via Hebbian learning of Schema Maps, or via
explicit learning of Combo programs via MOSES or hillclimbing. Procedures are represented
as SchemaNodes or Schema Maps.

HOUSE_OVERSIGHT_013254
"
IMAGES-011-HOUSE_OVERSIGHT_030872.txt,"wonder Trump told him, “It’s an honor to be with you.” Now Putin wanted new Obama’s sanctions on Russia to

be reprieved.

National Security Adviser Michael Flynn had discussed it with the Russian ambassador a month before Trump
took office. Although General Flynn joined his campaign and shared criminal secrets, he denied them to the FBI.
It was a felony offense. The Justice Department warned Trump that Flynn had misled Mike Pence, and that Flynt
could be vulnerable to blackmail. Trump asked Flynn to resign, and yet he offered his job back when he got out
of prison. Why? Because Flynt was the scapegoat, taking the fall for the president and vice-president. He preferred

a trial with immunity since they knew. Pence said Flynt lied and that itself was a lie.

If Trump and Pence were both to be kicked out of the White House, the next in line would be the Speaker of the
House, Paul Ryan. Steve Bannon has described him as “a limp-dick motherfucker who was born in a petri dish at

the Heritage Foundation.” It takes one to know one. Indeed, Bannon said he wanted to destroy Ryan.

Hallelujah!

HOUSE_OVERSIGHT_030872
"
IMAGES-004-HOUSE_OVERSIGHT_016563.txt,"Code Enforcement Board Meeting Minutes 07/17/08

Merola went into detail about the requirements of 10-45 and said Dr. Lynn had
complied with all of those. Then the letter of June 20"" came, requiring Dr. Lynn
to remove the dog or euthanize it. Mr. Merola read subsection (h) into the record
and said the Code Enforcement Board did not have any jurisdiction over
subsection (i) as subsection (h) just mentioned (d) through (g). The Town filed a
lawsuit and he and Mr. Randolph were before Judge Hoy this morning. The Town
is asking to have the dog removed or euthanized and asking for a permanent
injunction, stating an emergency situation. Judge Hoy gave them a hearing at 1:30
p-m. on Tuesday where it will be determined whether the dog is a nuisance,
whether 10-45 (1) even applies to the situation and if the Board has authority over
10-45 (1). If the Judge says the dog has to go, they are not going to argue with the
Court but he believes they have a right to present their case. He does not believe
the Town’s position that the fine should start tomorrow is correct. He believes the
Board can only find violations of subsections (d) through (g) of 10-45. There have
been no allegations that Dr. Lynn has violated subsections (d) through (g). Mr.
Merola believes it is clear that the Code Enforcement Board has no authority
under (i). Mr. Merola then addressed 10-6 and said he believed that since all
precautions have been taken under 10-45, the dog does not constitute a nuisance.
Mr. Merola said he has an injunction relief request before the Judge to stop the
Board from making this decision. Mr. Merola said Mr. Randolph has asked them
to determine these two (2) ordinances separately and he does not believe 10-45 (1)
is in the Board’s purview, and as to the nuisance, the dog has to be a nuisance now
and it is not. This is all going to be determined Tuesday and he is asking the Board
to either deny the Town’s recommendation because the Town cannot prove the
dog is a nuisance now or reset this case until next month’s hearing.

Sgt. Krauel advised he wanted to make a rebuttal to some of Mr. Merola’s
comments. The service of notice Mr. Merola referred to in declaring the dog
dangerous was when the police department spoke with Dr. Lynn on June 12, 2008
and was told Duke was being housed at a kennel in Palm Beach County. A notice
could not be served to Dr. Lynn to have him come into compliance with something
he was already in compliance with. The dog was not in the Town. The police
department did not find out the dog was in Town until June 20"" when Laura Klein
reported the dog attempted to break free of Dr. Lynn to attack her and this is
when the letter was sent out requesting compliance with Section 10-45. Dr. Lynn
was given the entire ordinance on June 10"", not just sections or specific acts that
he needed to comply with. Duke was not on the property at that time and no
notification to remove the dog from the property could be served then because the
dog was not there. As far as the police department was concerned, Dr. Lynn was
in compliance with the ordinance. Sgt. Krauel pointed out that the Town does not
abide by the state and the county ordinances, that the Town has the ability to
enforce more stringent and strict ordinances and that is what we have done here.

Sgt. Krauel said he was prepared, based on Counsel’s recommendation, to
recommend a motion to find Dr. Lynn in non-compliance with Section 10-6 and
move to postpone 10-45 (i) until after further consideration by the Circuit Court
on Tuesday. The Town recommends administrative costs in the amount of

10

HOUSE_OVERSIGHT_016563
"
IMAGES-007-HOUSE_OVERSIGHT_023760.txt,"HOUSE_OVERSIGHT_023760
"
IMAGES-008-HOUSE_OVERSIGHT_025432.txt,"Is Invitation: No

GUID: 799AF8A4-80E4-4B49-92BD-21D0CB716AF5

Message: Thx

Sender: e:jeeitunes@gmail.com

Time: 02/27/19 11:24:25 AM (572988265)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 8D544208-6C75-47A1-A7E3-915C14443FCD

Message: Cohen brought up RONA - keeper of the secrets

Time: 02/27/19 11:25:00 AM (572988300)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: SIAFF675-9AF3-4D96-BBOF-97AA390554FA

Message: RONA??

Time: 02/27/19 11:25:41 AM (572988341)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 110C0450-08FF-4A46-960B-7744F9A0CBD8

Message: Quick I'm up next is that an acronym

Sender: e:jeeitunes@gmail.com

Time: 02/27/19 11:26:07 AM (572988367)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: SE9AFF26-5F56-4A7B-8518-8CE7BEOE1B35

Message: Thats his assistant

Sender: e:jeeitunes@gmail.com

Time: 02/27/19 11:26:18 AM (572988378)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 92113168-10DE-4485-985B-OA3D1051AD3!1

T,

Gl

HOUSE_OVERSIGHT_025432
"
IMAGES-009-HOUSE_OVERSIGHT_026572.txt,"Global Asset Allocation
09 November 2012

J.P Morgan

The J.P. Morgan View

Do US elections change anything?

Asset allocation — The equity market has priced out the Romney win scenario,
but from these levels, our economic and market outlook and risks are
unchanged. These keep us medium-term overweight equities and credit, despite
the likely volatility as the fiscal cliff is negotiated. Within equities, we stay
underweight the US, and move most of the overweight into EM Asia. We have
moved some of our credit overweight from the US to Europe.

Economics — The data flows continue to confirm that June/July was likely the
bottom in global activity growth, and that we are gently lifting from those
levels, even as it will take well into next year before growth returns to trend.

Fixed Income — Look for yields to head higher, but focus more risk on spread
compression trades.

Equities — We focus our overweights on EM Asia, Cyclical stocks and US
Home builders.

Credit — We see the current dip as an opportunity to add risk.
Currencies — Be long the dollar during the fiscal cliff negotiations.

Commodities — A further set of better Chinese economic data keeps us long
base metals.

Equity markets are taking the Obama victory quite badly, with US stocks
down some 4% on Wednesday and Thursday. This has pushed up global bond
markets, and credit spreads are wider, but commodities are largely ignoring this
turmoil. We don’t think an Obama victory truly changes the economic outlook,
or risks, but it does eliminate the Romney hope that appeared to have been in
market pricing.

By definition, the Romney scenario is now priced out of the market. The US
elections confirm the status quo in Washington, and to us, they do so also for

period a relative financial “peace”. The US, in contrast, is at the start of intense
negotiations on how to avoid a fiscal-cliff induced recession next year. Neither
side of the aisle has an interest in being blamed for a recession. But markets will
still be buffeted by a steady news flow on wide gaps between each side’s
position.

the broad economic and market outlook, from current levels. Hence, we do not EMBIG
see much reason to change our investment allocations, and remain medium-term EM $ Corp. |!
overweight both credit and equities against cash, government debt, and US High Yield
commodities. We do so on the basis of value — still high risk premia — fading MSCI Europe*
risks on fiscal policy in the US into next year; an expected rebound in global S&P500
growth; and super easy monetary policy, with more QE coming if growth were MSCI EM*
to disappoint. MSCI AC Word |
In recent weeks, we have switched out of our long-standing US risk overweight, US High Grade |
into an underweight, on the argument that the US had the most committed Europe Fixed Inc* |
central banker, its growth has been least disappointing, and its fiscal risks were Gold |
further into the future. This relative risk has changed, with Chinese economic EM Local Bonds**
data confirming that its economy is rebounding, while the ECB now creating a EM EX H |

See page 7 for analyst certification and important disclosures.

Global Asset Allocation

Jan Loeys AC
(1-212) 834-5874

jan.loeys@jpmorgan.com

JPMorgan Chase Bank NA

John Normand
(44-20) 7134-1816

john.normand@jpmorgan.com

J.P. Morgan Securities ple

Nikolaos Panigirtzoglou

(44-20) 7134-7815

nikolaos.panigirtzoglou@jpmorgan.com

J.P. Morgan Securities ple

Seamus Mac Gorain

(44-20) 7134-7761

seamus.macgorain@jpmorgan.com

J.P. Morgan Securities ple

Matthew Lehmann

(44-20) 7134-7813

matthew.m.lehmann@jpmorgan.com

J.P. Morgan Securities ple

Leo Evans
(44-20) 7742-2537

leonard.a.evans@jpmorgan.com

J.P. Morgan Securities ple

YTD returns through Nov 8
%, equities are in lighter color.

US Fixed Income
Global Gov Bonds**
Topix*

US cash

GSCI TR

5 0

T
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
i
i

5

10 15 20

Source: J.P. Morgan, Bloomberg. See blue box on

page 2 for description.

www.morganmarkets.com

HOUSE_OVERSIGHT_026572
"
IMAGES-006-HOUSE_OVERSIGHT_020620.txt,"161

of German society that has a clear interest in good German-Chinese relations and thus
is susceptible to Chinese influence: the business community.

While this report has focused on distinguishing legitimate influence efforts from
improper interference, it is important to acknowledge behavior that is unquestionably
illegal. Most acts of espionage have not become public knowledge. Occasionally there
are unconfirmed reports about cyber activities and Chinese IT hardware containing
devices enabling espionage. In December 2017, German authorities revealed that
Chinese agents had used faked LinkedIn identities or avatars of Germans engaged with
China to contact people in the political and media spheres.

Politics

Angela Merkel, the present chancellor, has a decidedly cool attitude toward China,
although she has established mechanisms to work closely with China over the years.
Possibly because of her experience of being raised in communist East Germany, Merkel
clearly sees the challenges presented by China to democracy and a liberal society.
Indeed, there’s an argument to be made that with the retreat of the United States
from human rights issues, Germany has taken up the mantle as the strongest critic
of China’s human rights practices. It was Merkel’s government that won the release
of Liu Xia, the widow of Nobel Peace Prize winner Liu Xiaobo. Thus, it makes sense
that the Chinese Communist Party has opted to plant a seed within the German
business elite with the hope that in a post-Merkel Germany, China’s interests would be
accommodated more than now,

Germany is also an indirect target of China’s efforts directed at the 16—1 group

in Central Europe and within the EU. Among the sixteen Central and Eastern
European countries (eleven of them EU member states) gathered in the 16—1 group,
the expectation of Chinese investment has led to laxer application of EU rules on
procurement and in some cases to opposition to joint EU criticism of China (e.g.,
concerning the South China Sea, human rights, and the Belt and Road Initiative).
Chinese “divide and rule” activities weaken the EU’s China policy and the EU’s
cohesion in general and thus affect Germany negatively.”

There have been limited conspicuous efforts to target specific politicians for
cultivation, with two notable exceptions: former chancellor Helmut Schmidt (now
deceased) and former minister of economics Philipp Roessler. Influence activities
directed toward political parties are negligible, apart from efforts to include them in
events on the Belt and Road Initiative and the recent commemoration of forty years
of the policy of Reform and Opening. There have been some attempts to establish
relations with the new right-wing party “Alternative ftir Deutschland.”

Appendix 2

HOUSE_OVERSIGHT_020620
"
IMAGES-009-HOUSE_OVERSIGHT_027678.txt,"Is Read: No

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Message: <Unsupported Message Content>

Sender: e:jeeitunes@gmail.com

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Message: Just found that dan and Lesley are in contact. I was not copied

Sender: Po

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Message: Is darren going to ever get back to dan on this ??

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Message: Sorry, hes with his mom. You and i are perfect. All under privlege . I will
review with you and dan operational details. I hit your bid , you are filled

sender: iy

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HOUSE_OVERSIGHT_027678
"
IMAGES-004-HOUSE_OVERSIGHT_016577.txt,"Code Enforcement Board Meeting Minutes 07/17/08

MOTION BY MR. OCHSTEIN TO FIND THE VIOLATOR IN NON-
COMPLIANCE, ASSESS ADMINISTRATIVE COSTS IN THE AMOUNT
OF $150.00 AND ORDER THEM TO PAY THE FIRE INSPECTION FEE
IN ADDITION TO ANY LATE PENALTIES AND COSTS BY JULY 21,
2008.

SECONDED BY MR. FRIED

MOTION PASSED UNANIMOUSLY

F. Case # 08-2515, 140 N. County Rd., Bank of America
Violation of Chapter 46, Section 46-68 of the Town of Palm Beach Code of
Ordinances, annual fire and life safety inspection fees not paid

Code Enforcement Officer Gerry presented the facts of the case and said he had
spoken with Robin Gert who advised him the bill had been mishandled and gotten
lost in their system. He said he spoke to her yesterday and was told the payment
was still in process. The Town recommends a finding of non-compliance,
administrative costs in the amount of $150.00 and payment of the fine inspection
fee in addition to all late penalties and costs by August 4, 2008.

MOTION MADE BY MS. GREENBERG TO FIND THE VIOLATOR IN
NON-COMPLIANCE, ASSESS ADMINISTRATIVE COSTS IN THE
AMOUNT OF $150.00 AND ORDER THEM TO PAY THE FIRE
INSPECTION FEE IN ADDITION TO ANY LATE PENALTIES AND
COSTS BY AUGUST 4, 2008.

SECONDED BY MS. DUEMLER

MOTION PASSED UNANIMOUSLY

G. Case # 08-2516, 313 4% Worth Ave., # B2, David Clark
Violation of Chapter 114, Section 114-32 of the Town of Palm Beach Code of
Ordinances, business tax receipt required

Code Enforcement Officer Gerry presented the facts of the case and said Mr. Clark
had submitted his paperwork and paid the fee but there was a zoning issue still in
question. The Zoning Administrator is out of the office this week on jury duty and
based on the inability to get the issue resolved, the Town recommends the case be
postponed until the August 21, 2008 hearing date.

Mr. Fried questioned what the zoning issue had to do with a business tax receipt

and Mr. Gerry said the Town records do not show this particular suite existing at
this address but Mr. Clark has documents showing it there.

HOUSE_OVERSIGHT_016577
"
IMAGES-011-HOUSE_OVERSIGHT_030866.txt,"Our S&P targets and sector strategy assume a balanced outcome from the US general election on Nov 8th
that maintains the current split in power. However, if Democrats keep the Presidency and take Senate or
Republicans take the Presidency and keep Senate, it likely brings policy uncertainty and market volatility.
Longer-term, it will be the policies and implementation that will influence markets, which both parties, many
individuals and circumstances will craft. This note identifies sectors, industries and stocks that we think would
be price sensitive to an unbalanced election outcome tilted toward one party.

Dividing issues: Taxes, trade, favored infrastructure types and monetary policy

It’s difficult to pin down specific policies from either candidate, but on several economic issues their general
bias is clear. These issues include taxes, trade deals, favored types of infrastructure — such as green vs
conventional energy, preference for monetary policy, and also their expressed views on industries such as
Health Care and Energy. It is the gist of the candidate’s preference on these issues that we used to identify
sectors and stocks sensitive to a sweep.

Big banks might outperform small banks and oil might go down on Rep sweep

While many of our conclusions align with conventional judgment, we think we differ in that we think a Rep
sweep could: 1) be good for some domestic oil producers, as it should permit more drilling, but negative to the
recovery in oil and gas prices, as more supply, and thus negative for the broad Energy sector, 2) bring
somewhat faster Fed hikes and a stronger dollar than otherwise, 3) the first two could lead to lower inflation
and a flatter yield curve than otherwise would be. One could argue that Trump sized tax cuts and an
infrastructure and defense spending spree would steepen the curve, but we think this unlikely while
Republicans control the House. If Fed hikes bring yield curve flattening then big banks and capital markets
likely outperform small banks and insurance companies. Slow hikes that allow inflation to accelerate and
steepen the curve might favor smaller banks and insurance, but this could pressure PEs at non-financials. If
the Fed falls too far behind the curve, higher long-term rates could threaten the stock market, real estate and
the overall economy.

Equity strategy election themes: Party sweep better for investor confidence on

Taxes-R, Trade-D, Infrastructure-R/D, Faster Fed hikes-R, Higher inflation target-D, Steeper curve-D, stronger
dollar-R, stock market-R/D, large caps-R, small caps-D, globally exposed S&P stocks-R, domestically exposed
S&P-D, higher commodity prices-D, lighter regulations-R, foreign profit repatriation-R.

Industry pair trades and ETF ideas for Democratic vs. Republican Sweep

1) Favor Health Care Services & Facilities over Drugs & Medical Devices

2) Favor Engineering & Construction over Defense stocks

3) Favor Small Banks & Life Insurance over Big Banks and Capital Mkts

4) Favor Energy majors over Oil Services and smaller domestic E&Ps

5) Favor Clean Energy & Social Media over Cheap Energy & Telco/Cable

6) Favor Metals & Mining over Chemicals & Construction Materials

Dem: IHF, GEX, XME, SOCL, IWM, KBE. Rep: XPH, IHI, XOP, IGF, ITA, IYZ, VGT, XLF

Clinton 15 stock basket (DBUSCLNT): UNH, HUM, MCk, ACM, PWR, XOM, AA, NEE, CREE, FSLR, FB,
NFLX, PRU, C, UNP

Trump 15 stock basket (DBUSTRMP): JNJ, PFE, MDT, NOC, LLL, HAL, DOW, DUK, F, MLM, VZ, CMCSA,
SCHW, WFC, DAL

David Bianco
JuWang +1
Winnie Nip

Please visit our group webpage at
https://gm.db.com/welcome.html?/ger/analyst/Analyst.eqsr?analystID=39531

HOUSE_OVERSIGHT_030866
"
IMAGES-008-HOUSE_OVERSIGHT_024738.txt,"HOUSE_OVERSIGHT_024738
"
IMAGES-007-HOUSE_OVERSIGHT_023774.txt,"28 Teaching Minds

Here is the same woman, this time writing about how she learned
music,

My mentor, Otto-Werner Mueller, was conducting the Yale
Philharmonia in the 1970s—I met him as an undergrad in
Madison, WI. I attended his graduate seminars in Madison and
spent a lot of time with him while he was in New Haven. He
guest-conducted the Hartford Symphony (where I now work)
twice in the past few years. (He is 83 now.) I spent hours and
hours in “lab orchestra” watching him teach his conducting
students, both in Madison and at Yale. What always struck

me was how students were either so self-conscious they were
wooden, or how they’d try to imitate Otto (who at 6 feet, 7
inches had amazing stature) physically and couldn’t pull it off.
Very few were able to incorporate what he was teaching and then
make it their own.

| believe that effective teaching makes. . .

students look at what the teacher does and see how they can
imitate it in a way that is consonant with who they are

The next writer was a Ph.D. student of mine and is now a professor at
a major university.

Trust your intuitions. This was something you told many of

us over and over. It has had three meanings for me—first, that
the only right things to work on are those that I can imagine a
solution to; second, that whether a way of attacking something
is the right way or not, it will lead me to the right way; and
third, go out on a limb. I can’t say how I learned this except,
perhaps, through trusting your advice and then noticing that it
got me to success over and over again. It began to really sink in
when I had my own students. Often, the most interesting things
they brought to me were more intuitive than they were based
on what everyone else was saying. And I have had to reassure
people that their ideas are good and they should follow up on
them. Of course, there are also intuitions that my students have
that I don’t think are good, and I don’t advise them to follow

HOUSE_OVERSIGHT_023774
"
IMAGES-004-HOUSE_OVERSIGHT_017669.txt,"Page 34 of 78
2007 Utah L. Rev. 861, *908

for disclosing the fact of the subpoena to the victim, because of both ethical and legal considerations. 7°? Thus, the Advisory
[*909] Committee's use of ex parte procedures will only randomly protect defense strategy from disclosure.

The impossibility of truly ex parte procedures for Rule 17 subpoenas to third-parties has been recognized by several court
decisions. For example, in United States v. Urlacher, the defendant sought to use Rule 17 to subpoena financial, family, and
employment information concerning an individual believed by the defendant to be the government's main witness at trial. 7°
The court declined to approve the subpoena ex parte, explaining that the custodian of the records ""has a Rule 17(c) motion to
quash or modify, and one cannot easily imagine that such a motion should be heard and decided in secret ... and hidden from
the opposing party and the public."" 7°* The court went on to explain the constitutional difficulties presented by such an
approach, given that the First Amendment creates a general public right of access to court proceedings. 7°

Even if there is some arguable defense interest in not disclosing ""strategy,"" that interest must be subordinated to the compelling
victim interests that are at stake. My proposal (and the Advisory Committee's) applies to third-party subpoenas directed to the
victim's personal or confidential information. Congress has commanded that victims must not only be treated with ""fairness,""
but also ""with respect for the victim's dignity and privacy."" 7° Protecting dignity and privacy requires a hearing when
confidential information is at stake.

The Advisory Committee Note on its proposal does obliquely deal with this issue in a way that misstates the relevant legal
landscape. The Note accompanying the proposed Rule 17 amendment states vaguely that, ""in exercising its discretion [about
whether to give notice of a request for a subpoena], the court should consider the relevance of the subpoenaed material to the
defense, whether giving notice would prejudice the defense, and the degree to which the subpoenaed material implicates the
privacy and dignity interests of the victim."" °°’ This imprecise listing of discretionary factors misstates the law. The court is
not required to ""consider"" some victim-related factors and then make a discretionary decision. The CVRA commands that
victims have ""the right"" to ""be treated ... with respect for the victim's dignity and privacy."" 7° Thus, if withholding notice to a
victim fails to respect the victim's dignity and privacy (as I believe it invariably will), then the court must give notice - end of
story. 7°? The CVRA flatly directs: [*910] ""In any court proceedings involving an offense against a crime victim, the court
shall ensure that the crime victim is afforded the rights described [in the CVRA]."" 270

The Advisory Committee Note is also an incomplete listing of the victim's rights that are implicated in decisions about issuing
subpoenas. From a procedural perspective, if the court holds a hearing on whether to issue the subpoena, the CVRA entitles a

262 Cf. 42 U.S.C. § 254b(k)(3)(B) (2006) (enforcing confidentiality of medical records).

263 136 F.R.D. 55, 551-57 (W.D.N.Y. 1991).

264 Td. at 556.
265 Td. at 556-57. But cf. United States v. Beckford, 994 F. Supp. 1010, 1027 (E.D. Va. 1997) (noting that Urlacher states the majority rule,

but concluding that ex parte procedures should be permitted in ""exceptional circumstances"").

265 18 US.C. § 3771(ay(8).

267 See Proposed Amendments, supra note 71, R. 17, at 8.

208 18 U.S.C. § 3771(a)j(8).

269 In theory, the Advisory Committee could argue that the CVRA is unconstitutional in this respect and therefore must give way. But the
CVRA is presumed to be constitutional and the caselaw strongly supports the Act. See, e.g., Wardius v. Oregon, 412 U.S. 470, 475 (1973)
(finding no constitutional barrier to reciprocal discovery rules that act as a ""two-way street""); cf. Forsythe v. Walters, 38 F. App'x 734, 737
(3d Cir. 2002) (finding that ""application of the CVRA does not exact a punishment and therefore the CVRA can not violate the Ex Post Facto
Clause"").

270 18 U.S.C. § 3771(b)(1) (emphasis added).
DAVID SCHOEN

HOUSE_OVERSIGHT_017669
"
IMAGES-008-HOUSE_OVERSIGHT_025426.txt,"I
Source Entry: H\Macintosh HD\ root \Users\jee\ Library \Messages \aArchive\2019-02-26\ fi

MES «on 2019-02-25 at 21.17.38.ichat

Service: iMessag

Start Time: 02/25/19 06:17:38 PM (572840258)

End Time: 02/26/19 12:11:33 PM (572904693)

Last Message ID: 25571

Chat Room:

Participants: jee, Po

Presentity IDs: e:jeeitunes@gmail.com, [I

Messages -

Sender: Po

Time: 02/25/19 06:17:38 PM (572840258)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 2B10F/9B-24F3-4334-B215-D60CF6AC5F2A

Message: If you do an interview it can't be like 'Johnnie does a utube'-- has to be
amazingly professional and perfectly cut

Sender: e:jeeitunes@gmail.com

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GUID: 96567BFD-BABO0-462A-B1 95-DA3DFD76C24A

Message: woody said he would help edit. not sure how to stage, what points to make.
but better than trying to do an interview that i have no experience doing. goal to
himanize the monster. anything written carries iittle weight. tomorrow the
jJuxtopsion of michael cohen testifying while trump is with kim is wild

Time: 02/25/19 06:23:00 PM (572840580)
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HOUSE_OVERSIGHT_025426
"
IMAGES-009-HOUSE_OVERSIGHT_026566.txt,"BHSEC has its roots in the college system. In June 2001, The New York City Board of Education
and Bard College jointly created Bard High School Early College (BHSEC), with the support of
the Bill and Melinda Gates Foundation. Since the 1960’s Bard College, originally called, Bard
College of Simon’s Rock, was the nation’s only four year college and was specifically designed

for younger scholars.

“Competition is tough,” Jeffrey Epstein notes, whose foundation actively supports public
education across the country. “Approximately 7,000 applicants compete for 150 seats each fall.

So we need to continue working with state education boards to duplicate this successful model.”

HOUSE_OVERSIGHT_026566
"
IMAGES-003-HOUSE_OVERSIGHT_015278.txt,"geriatric blue-hair who finally kicks the bucket, a fascist totalitarian in the
Mid-East who is assassinated. I’ m not doing great this year because |
invested too heavily in Hamas, but I’ m still in the top ten. The IDF [Israel
Defense Forces] is doing its job--I just guessed wrong. Last year | scored
on Khattab, a Chechnian rebel leader who was killed by a letter he opened
that was poisoned. Our first poison-pen-letter death.”

But isn’ t it somewhat ghoulish?

“Ghoulish?” a participant replied. “No more so than fantasy
baseball. We can get up in the morning, and either pick up the newspaper
or turn on the Internet to see if we scored, every day. It’ s like baseball
stats, you want to move up in the standings of the veterans. The reason we
Gamesters play, | would say it’ s about sty/e Style involves who you pick.
Some concentrate on music, some on politics, some on sports.”

As for social significance, one player explained that “The pastime
has been going on for more than four hundred years, so | don’ t think
it’ s reflective of any given time or society. Every Gamester comes with
their own perspective. The Game is irreverent, even a bit shocking, and
some take pleasure in that. It’ s a poke to the ribs that lie beneath stuffed
shirts, a tweak of bluenoses. The Game is a competition—challenging,

engaging and energizing. The Game heightens awareness and helps us to

HOUSE_OVERSIGHT_015278
"
IMAGES-006-HOUSE_OVERSIGHT_020634.txt,"175

China had succeeded, it would have forced a significant modification of Singapore’s
approach to Taiwan.

This was not the first unofficial visit by a Singaporean leader to Taiwan. Previous
unofficial visits by even more senior Singapore leaders had passed without incident.
The 2004 visit conformed to the established pattern in form and substance of previous
visits. But what the 2004 incident had in common with the 2016-17 episode was that
both occurred at times of political transition in Singapore.

In 2004, it was clear that Lee Hsien Loong would replace Goh Chok Tong as
Singapore’s third prime minister. By 2016, Prime Minister Lee Hsien Loong had made
public his intention to step aside after the next general election (due by 2020) and let
a younger generation of political leaders take over. The pressures deployed on both
occasions may have been intended as tests of the resolve of new leaders and warnings
to new leaders about what to expect unless they were more accommodating to China.

South China Sea

When Singapore became the ASEAN country coordinator in 2016, Chinese diplomats
called upon Singapore to “explain” China’s position on the SCS to other ASEAN
countries, or to ensure that the issue was not raised in ASEAN forums, or, if raised,
downplayed. Such demarches have been routine in all ASEAN countries for many years.

Simultaneously, messages targeting civil society and other sectors began to appear,
most prominently on social media. The aim was to instill a fatalistic acceptance of the
inevitability and desirability of a Chinese identity for multiracial Singapore and to get
Singaporeans—and not just Chinese Singaporeans—to pressure the government to
align Singapore’s national interests with China’s interests. In essence, they asserted:

e Unlike Lee Kuan Yew, who had died in 2015, the current Singapore leadership
under Prime Minister Lee Hsien Loong did not know how to deal with China.
Relations were so much better then.

e Singapore has no territorial claims in the SCS, so why was it siding with the
United States against China?

e Surely, as a “Chinese country,” Singapore should “explain” China’s position to the
others or stay neutral.

It is difficult to pin down the precise origins of such narratives, but they closely
resemble arguments made in the Chinese media, in particular the Global Times.

Appendix 2

HOUSE_OVERSIGHT_020634
"
TEXT-002-HOUSE_OVERSIGHT_032801.txt,"From: Nicholas Ribis 
Sent: 8/29/2018 4:19:56 PM 
To: Jeffrey Epstein [JEEvacation@gmail.com] 
Subject: Donald Trump only lasted 2 minutes during sex says Stormy Daniels I Bossip 
Importance: High 
In Europe saw this it will drive him crazy!! 
https://bossip.com/1664506/premature-potus-stormy-daniels-says-donald-trump-only-lasted-2-minutes-inside-
her-pornographic-pleasure-pocket-43081/ 
Sent from my iPhone 
HOUSE OVERSIGHT 032801 
"
IMAGES-001-HOUSE_OVERSIGHT_011837.txt,"/ BARAK / 80

American proposal. I suggested the President could tell Arafat that he’d try to get
me to agree to it, providing Arafat first showed a readiness to move.

The American questions did go further than ours. They asked Arafat whether he
would negotiate on the basis of getting Palestinian sovereignty over all the outer
Jerusalem neighborhoods, as well as the Muslim Quarter of the Old City and a
“custodial role” over the holy sites. But Arafat said no. He insisted on Palestinian
sovereignty over all of East Jerusalem, including the Old City and the holy sites.
For a few hours after Clinton’s fruitless meeting with Arafat, Dennis and the
American team engaged in a rescue effort, adding another carrot. They included
the Christian Quarter as well, meaning Palestinian sovereignty over nearly half of
the Old City, including the areas where almost all Arab residents lived. Dennis
gave the proposal to Shlomo and Amnon Lipkin to bring to me, and asked two of
the Palestinian negotiators to take it to Arafat. Even offering sovereignty over the
Muslim Quarter went beyond anything I’d proposed. So did a lot of the other
American questions. Still, I said we’d be ready to consider them in discussions
with the US negotiating team — with the exception of the Christian Quarter. But
that, too, turned out not to matter. Arafat did not even respond.

Clinton called me to say we’d reached the end of the road. There were only two
options: end the summit and announce we’d tried and failed, or defer Jerusalem
and try to get agreement on the rest of the issues. I asked for time to think it over,
and he said he’d come see me when I was ready. I was tempted to put off
Jerusalem. In the admittedly unlikely event we could get a deal on the other issues,
that would undeniably be an achievement. But I couldn’t help thinking that
Arafat’s lack of engagement on Jerusalem was yet another sign that he was not
ready for the almost equally tough compromises required to resolve the other core
issues. And there was no escaping the reality that without a deal on Jerusalem, no
agreement we reached would truly represent an “end of conflict.” Moreover,
Jerusalem wasn’t just a Palestinian issue. It was of fundamental interest to the
whole Muslim world. If we left it unaddressed, we would be putting future Israeli
governments in the position of having to negotiate on Jerusalem after we’d given
back our key negotiating assets and all our leverage.

I accepted now that the search of a full peace treaty, or even a framework
agreement, looked all but impossible. Even Shlomo’s and Gili’s freelancing had
produced only a series of no’s from Arafat. But I felt I couldn’t give up. Much as
I’d been resisting it, I believed I needed to give Clinton my true bottom lines, even

366
HOUSE_OVERSIGHT_011837
"
IMAGES-006-HOUSE_OVERSIGHT_022023.txt,"James PATTERSON

approval, on his own planes to New York and to Little Saint Jeff's,
where the locals have taken to referring to Epstein’s 727 as the
Lolita Express.

There are other restrictions, of course, that Epstein is sup-
posed to abide by. He has to provide the state of Florida with a
list of all the motor vehicles, boats, and airplanes he owns. The
full list includes two Escalades, six Suburbans, two Ford F-150s,
two Harley-Davidsons, a Land Rover, a Hummer H2, a thirty-
four-foot JVC boat, and a thirty-five-foot Donzi powerboat.

Three of his five planes turn out to be registered to a com-
pany called Air Ghislaine, Inc.

As a registered sex offender, Epstein is legally obliged to
undergo psychiatric treatment. This is a restriction he'll get
around by having his own psychologist submit a report to law
enforcement officers.

Epstein is also prohibited from accessing pornography on
the Internet and using social networking for sexual purposes.

For Jeffrey Epstein, there will be no Bangbros, Tinder, or
Swingles.com.

There will be lawsuits.

Six weeks before probation ends, he settles with seven women EB

who sue him in civil court. But Epstein can easily afford the set 4
tlement payments. He won't be going back to jail, and in regard

to further prosecution for any criminal actions, his troubles are ~

i
a

3]

behind him. is

Not everyone who's spent time in his company will be $0 ~

lucky.

Alfredo Rodriguez: Aug

pstein’s houseman, Al
prison sentence.

In a sworn statem
maid, Lupita, who had com]
up after Epstein’s “massage:
lic, had cried as she describe

Rodriguez was fired by 1
after seeing a strange car—z

As it turned out, the ca

_ Masseuses.

On his way out of the hc

q of Epstein’s papers, which he
“_ by Chief Reiter's investigator,

‘a
¥

: For years, Rodriguez trie
Manager. No one wanted t

4

HOUSE_OVERSIGHT_022023
"
IMAGES-002-HOUSE_OVERSIGHT_013240.txt,"324 18 Advanced Self-Modification: A Possible Path to Superhuman AGI

We envision teaching the system to prove theorems via a combination of supervised learning
and experiential interactive learning, using the Mizar database of mathematical theorems and
proofs (or some other similar database, if one should be created) (nttp://mizar.org). The
Mizar database consists of a set of “articles,” which are mathematical theorems and proofs
presented in a complex formal language. The Mizar formal language occupies a fascinating
middle ground: it is high-level enough to be viably read and written by trained humans, but
it can be unambiguously translated into simpler formal languages such as predicate logic or
Sasha.

CogPrime may be taught to prove theorems by “training” it on the Mizar theorems and
proofs, and by training it on custom-created Mizar articles specifically focusing on the sorts of
theorems useful for self-modification. Creating these articles will not be a trivial task: it will
require proving simple and then progressively more complex theorems about the probabilistic
success of CogPrime schemata, so that CogPrime can observe one’s proofs and learned from
them. Having learned from its training articles what strategies work for proving things about
simple compound schemata, it can then reason by analogy to mount attacks on slightly more
complex schemata — and so forth.

Clearly, this approach to self-modification is more difficult to achieve than the supercompi-
lation approach. But it is also potentially much more powerful. Even once the theorem-proving
approach is working, the supercompilation approach will still be valuable, for making incremen-
tal improvements on existing schema, and for the peculiar creativity that is contributed when
a modified supercompiled schema is compressed back into a modified schema expression. But,
we don’t believe that supercompilation can carry out truly advanced MindAgent learning or
knowledge-representation modification. We suspect that the most advanced and ambitious goals
of self-modification probably cannot be achieved except through some variant of the theorem-
proving approach. If this hypothesis is true, it means that truly advanced self-modification is
only going to come after relatively advanced theorem-proving ability. Prior to this, we will have
schema optimization, schema modification, and occasional creative schema innovation. But re-
ally systematic, high-quality reasoning about schema, the kind that can produce an orders of
magnitude improvement in intelligence, is going to require advanced mathematical theorem-
proving ability.

HOUSE_OVERSIGHT_013240
"
IMAGES-002-HOUSE_OVERSIGHT_013526.txt,"without presupposition, ecstatically aware and selfless, it is God’s gift realized, a
joyfully awake and nonjudgmental empty state of transcendence. As we sit, we work
at feeling this in the brain of the enigmatically smiling stone Buddha.

The externally inactive state of high internal activity, the Bhagavad-Gita’s
formlessness in the world of form, inaction in the world of action, has a natural
mathematical representation in the simultaneously expanding and contracting
motions of hyperbolic dynamics and its associated entropic descriptors. How can
this kind of formlessness equip us for almost instantaneous knowing? In a resting
state of uniform hyperbolicity that only looks like randomness, accurate impressions
of others can arise quickly and from only a few data points of observation. In the
late 1960’s, University of California mathematician, Rufus Bowen, proved the now
famous shadow theorem. This says that in dynamical states of hyperbolicity, directly
observable on the screen in computer simulations, the first few points of the on-
going wild dynamical dance that appears to jump randomly from here to there on
the computer screen, counter-intuitively will quickly outline the entire skeleton of its
future global shape, its geometry, though more time of observation is required to
realize this structure in full detail. The contracting motions on the stable surface of
action, called a manifold, “iron down” all the points onto the unstable manifold that
serves to outline the shape of the attractor of all starting points. In such a system,
observation of just the first few points outline the whole. Intuition, anticipatory
knowing and that which some call prophesy, may be expressions of the hyperbolic
brain’s mind doing dynamical shadowing.

To review briefly, hyperbolic brain flow is made up of three decomposable
components: (1) The apparently predictable one along the main road of the action,
going straight ahead and round and round on a throughway called the center
manifold—analogous perhaps to what might be a sequentially logical development;
(2) Intersecting the center manifold transversally is a field of influence moving the
action away from the center manifold with out-of-the-box motion, exploring side
paths of unpredictably new, creative possibility called the unstable manifold, we
might think about inspired risk-taking, impulsive associations in thought; (3) Another

transversally intersecting field of influence, which conservatively, rationally, “irons

26

HOUSE_OVERSIGHT_013526
"
TEXT-001-HOUSE_OVERSIGHT_026372.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 1/23/2016 3:40:03 PM 
To: Kathy Ruemmler 
Subject: Re: 
Importance: High 
with conviction 
On Sat, Jan 23, 2016 at 10:37 AM, Kathy Ruemmler <1=1111> wrote: 
Macgyver takes it to another level because if you call him out on it, he will explain with a straight face that 
both statements are true. 
Sent from my iPad 
On Jan 23, 2016, at 10:28 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
My memory is a friend killer - I stopped talking to clinton when he swore, with whole hearted conviction to 
me , that he had done something„ he had forgotten that he also swore the exact opposite to me only weeks 
before. . 
On Sat, Jan 23, 2016 at 9:26 AM, Kathy Ruemmler < > wrote: 
He obviously said something to you yesterday that was disturbing, and you don't want to tell me. Just tell me 
-- I can take it. I promise. 
Sent from my iPhone 
On Jan 23, 2016, at 9:22 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
I was wrong 
On Saturday, January 23, 2016, Kathy Ruemmler < > wrote: 
I will just say I told you so. Not to sound overly dramatic, but he is very close to being a psychopath -- he 
has no conscience. It's scary. 
Sent from my iPhone 
On Jan 23, 2016, at 8:40 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
i could never ever verify its authenticity. so- yes . 
On Sat, Jan 23, 2016 at 8:22 AM, Kathy Ruemmler < > wrote: 
Meaning I win the bet that I will never receive an apology and acknowledgment of acceptance of 
responsibility? 
On Sat, Jan 23, 2016 at 4:58 AM jeffrey E. <jeevacation@gmail.com> wrote: 
You were right and I was wrong. Humble pie, crow, or my own words is what i get to eat today. your 
choice 
On Fri, Jan 22, 2016 at 6:28 PM, Kathy Ruemmler < > wrote: 
HOUSE OVERSIGHT 026372 
What part do you find disturbing? Do you think he is losing it? 
Sent from my iPhone 
On Jan 22, 2016, at 6:21 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
talking to macgiver, disturbs me, and that takes a lot 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 026373 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 026374 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 026375 
"
IMAGES-002-HOUSE_OVERSIGHT_014249.txt,"ST IE

a CAristing

| OF __-

pete S64 S8Q6EF4
ouresvar}~fwecsunaa—[]|
|{wantstoseevou| [rush |
| MESSAGE She has problems _|
| AtTh Cor... coulol she

PiMPORTANT MESSAGE]

nS |

wants To seEYOU| [rus |_|

| [RerumveD vourcaL| [specucarrennion | J]
oe
| ~eeno still doveésr 7 still doesn ia :

QHVS £38 he. AC.

Aerd at 2pm

| [raeriones Dy Jacccoms dt
asroserveu | [wcuren |]

OF
jose S/F F&P ET |

([TELEPHONED

WANTS T0 SEE YOU | | [RUSH
| [RETURNED YOUR CALL| _[] SPECIAL ATTENTION

wessnee PeTSOn for 3 Or or ;

SE car inc A be
Ave ta ts ait #3°~

onaned.

GIUFFRE00 1557

HOUSE_OVERSIGHT_014249
"
TEXT-001-HOUSE_OVERSIGHT_030510.txt,"Date: Monday, November 15 2010 07:13 PM 
Subject: from revival, a new book.. 
From: Jeffrey Epstein <jeevacation©gmail.com> 
To: Jes Staley 
I thought you might find this amusing. ""But more often then not, the team of economic advisers was 
operating from different playbooks, with Summers calling his plays the loudest. Take, for instance, the debate 
that surrounded the Volcker rule -- the regulatory reform component that curtailed proprietary trading at U.S. 
banks and limited their investments in private equity firms and hedge funds. As Wolffe reports: 
[Summers'] doubts sat there in the West Wing, blocking the Volcker rule for months. Obama had 
signaled that he wanted the rule to move forward back in October. The banks were on safe ground again, 
but could still benefit from subsidized lending by the federal government. That seemed wrong when they 
could use the money to trade for themselves rather than lend it to customers in the real economy... Biden 
was an old friend of Volcker 's and started to press for the rule to take force. But as the weeks dragged on, 
Summers rehashed his same old questions and concerns. At one fall meeting with his economics team in 
the Oval Office, Obama wanted to know why nothing had moved yet. Summers dug in once again, while 
Geithner - whose media coverage cast him as a supposed ally of Wall Street - wanted to push ahead. 
Obama noted dryly, ""I think I can argue everyone's position now. "" 
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com , and 
destroy this communication and all copies thereof, 
including all attachments. 
HOUSE OVERSIGHT 030510 
"
IMAGES-003-HOUSE_OVERSIGHT_016017.txt,"Free Will 327

Schrédinger’s Cat - both Alive and Dead

Since radioactive decay is a quantum event, we have to assume
it might or might not have happened right up until the point of
measurement. It is the same with any quantum event: photons reflecting
from a piece of glass, measuring the spin of an electron or measuring the
polarization of a photon. All these quantum effects exist in superposition
until measured. But in the real world, we don't experience superposition.
If I miss the train, I miss it. I don’t partially catch it and partially miss
it, and I don’t experience any such quantum ambiguity. The only place
I ever see such effects is watching science fiction movies. In real life the
large scale world is certain. At what point does this quantum uncertainty
transition to our classical certainty? What is the state of the cat before I -
a sentient observer — open the box? Was the result of the decay measured
by the Geiger counter, the cat, or are we waiting for someone to open the
box and observe the result?

The Copenhagen interpretation of quantum mechanics — named
after the main center of early quantum theory at the Niels Bohr Institute
— says the cat is both alive and dead until I make a measurement. ‘The cat
is said to be in superposition, meaning a live cat and a dead cat inhabit
the same volume of space-time ‘experiencing’ both alternatives and
waiting for my measurement. This seems nonsensical, but Copenhagen
quantum folk simply say, “That’s the way it is; the mathematics works, if
you don't like it, tough. Nature does not have to explain herself?

Einstein strongly disagreed with this position. He believed the
world is certain and laws must govern radioactive decay and, therefore,
the breaking of the vial and the life and death of the cat. There must be
some, as yet, undiscovered theory. He reasoned as follows: A particle

HOUSE_OVERSIGHT_016017
"
IMAGES-002-HOUSE_OVERSIGHT_012638.txt,"minor,

5. Defendant Jeffrey Epstein is a citizen and resident of the State of New York.
6. This is an action for damages in excess of $50 million.
7. ‘This Court has jurisdiction of this action and the claims set forth herein pursuant to 28

U.S.C. §1332(a), as the matter in controversy (i) exceeds $75,000, exclusive of interest and costs;
and (ii) is between citizens of different states.

8. This Court has venue of this action pursuant to 28 U.S.C. §1391(a) as a substantial
part of the events or omissions giving rise to the claim occurred in this District.

Factual Allegations

a, At all relevant times, Defendant Jeffrey Epstein (“Epstein”) was an adult male, 52
years old. Epstein is a financier and money manager with a secret clientele limited exclusively to
billionaires. He is himself a man of tremendous wealth, power and influence. He maintains his
principal home in New York and also owns residences in New Mexico, St. Thomas and Palm Beach,
FL. The allegations herein concern Epstein’s conduct while at his lavish estate in Palm Beach.

10. Upon information and belief, Epstem has a sexual preference and obsession for
underage minor girls. He engaged in a plan and scheme in which he gained access to primarily
economically disadvantaged minor girls in his home, sexually assaulted these girls, and then gave
them money. In or about 2005, Jane Doe, then 14 years old, fell into Epstein’s trap and became one
of his victims. |

11. Upon information and belief, Jeffrey Epstein carried out his scheme and assaulted
girls m Florida, New York and on his private island, known as Little St. James, in St. Thomas,

12. An integral player in Epstein’s Florida scheme was Haley Robson, a Palm Beach

HERMAN & MERMELSTEIN, P, A. www.hermaniaw.com

HOUSE_OVERSIGHT_012638
"
IMAGES-001-HOUSE_OVERSIGHT_011189.txt,"loreconsenti | El quintento londinense Spector estrenA? 4€ceBorn in | 23 Jun 2016, O | negative
da The EUa€e una nueva canciA?n en la que expresan su 04:38 - CEST
sentir acerca del Brexit y todos los...
Abogangste | Escucha a€ceBorn in The EUa€e la nueva canciA?n de 23 Jun 2016, | Quintan 0 | neutral
r45 Spector: El quintento londinense Spector estrenA? 04:38 - CEST | a Roo,
a€ceBorn in The EU... https://t.co/G6Jo53Xdfl MAO©xic
fe)
jeffcliff1 https://t.co/syMqnMYyAi Predictionbook suggests 23 Jun 2016, | PA, O | neutral
about 1:2 odds of #brexit happening 04:38 - CEST | #tbay
,»Milky
Way,Lan
jakea
Rattleone Hmm.""Yes or no"". Let me sleep on it baby baby let me | 23 Jun 2016, | 22 0 | positive
sleep on it,I'll give you an answer in the morning. UK..| | 04:38 - CEST | Acacia
hope you get better..#Brexit Avenue
JohnSerocol | RT @JohnOSullivanNR: At stake in Brexitwhether UK 23 Jun 2016, | London 20 | negative
d stays in an undemocratic polity or regains its 04:38 - CEST
selfgoverning democracy? Not trivial: ha€ |
osscarjuarez | Escucha a€oeBorn in The EUa€e la nueva canciA?n de 23 Jun 2016, | Coahuil 0 | neutral
Spector https://t.co/JTLICfliaS 04:38-CEST | a
ChinksO7 RT @iamsrk: | c this trend in News where leaving of 23 Jun 2016, | New 2779 | positive
someone or something is headlined as Rexit or 04:38 - CEST | Delhi
Brexit.So if | leave from sumwhere am la€;
Rosalia_glez | Escucha 4€ceBorn in The EUa€e la nueva canciA?n de 23 Jun 2016, | Coahuil O | neutral
Spector https://t.co/Vb7gFHmOSb 04:38-CEST | a
actualite24 | Brexit: AJ2 du rA©@fA@rendum, dA©bat enflammA© | 23 Jun 2016, | France 0 | neutral
devant 6.000 spectateurs A Londres. #D22 04:38 - CEST
https://t.co/nX8hQxOyHI
Chiroyo The latest e—¥a°S Chiro! https://t.co/hotjEY4b90 23 Jun 2016, | TOKYO 0 | positive
Thanks to @sebapefer @chikashiojima 04:38 - CEST
@cubanadventures #rollingstones #brexit
vcapozzi2 RT @Forbes: Poll: 80% of Americans think Britain 23 Jun 2016, 337 | positive
should leave the EU https://t.co/EPNk488c9h 04:38 - CEST
https://t.co/3mqaV8v5KD
NachomanP | RT @Milenio: 4A—q] Problemas en el paraAso...AéQuA© 23 Jun 2016, | Puebla, 9 | negative
ue es el #Brexit?https://t.co/5ZaiAGHG4t 04:38 - CEST | MA©xic
https://t.co/mKp4DQBrYD ro)
BTCPosts #bitcoinnews #bitcoin #bitcoinews #wsj U.S. Stocks 23 Jun 2016, | Miami 0 | neutral
Ride the Waves of Brexit Anxiety 04:56 - CEST | Florida
https://t.co/MXXotulXcE #bitcoins #bitnews
#bitcointalk
mkmknani RT @1_texanna: We are praying for you Britain!! 23 Jun 2016, | Ft 10 | positive
Americans stand with you! 04:56 - CEST | Worth
#Brexit Tx/Belli
#VoteLeave https://t.co/UxODv9UBu9 ngham
WA
Hoofdnieuw | https://t.co/CsupbjE3eC To brexit or not to brexit: wat | 23 Jun 2016, 0 | negative
sl je moet weten https://t.co/b3SaBXxJSw 04:56 - CEST
TrafficDiddy | What is Brexit and the Ramifications of Leaving the 23 Jun 2016, | Traffic 0 | negative
European Union [UK News] https://t.co/CVQZDMFCAf | 04:56-CEST | All
https://t.co/83r0PfXBL1 Around

HOUSE_OVERSIGHT_011189
"
IMAGES-005-HOUSE_OVERSIGHT_018675.txt,"""Do you trust me?” I asked him.
""Yes,"" he said. ""Absolutely.""

I clenched my nails into Mica's side, and his back arched. It was the clearest invitation I'd
seen from him and, I suspected, the clearest invitation he knew how to give. If he even
knew that he was giving it. It can take a lot of time and experience for a submissive to
learn what they want well enough to give good feedback for it. It's one of those
submissive skills that people don't think about enough, because for some reason we're
always too busy teaching dominant skills.

I kissed Mica again, and tore into his back.

He was ready for it. His breathing fast became irregular; he gasped; he shook in my
hands. After a while, I pulled back and simply observed the intensity flooding through
him. His body undulated like a wave.

""I knew you were dangerous,"" he breathed. ""In exactly the way that I want.""

""Dangerous,"" I repeated. I hesitated. ""What do you mean?” His eyelashes flickered, and I
saw that he was too far under to answer me. He probably barely knew what he was
saying. (In S&M, we call this state of mind subspace.)

I pushed him a little farther. I only used my nails, but you can do a lot with your nails. I
said his name, over and over. He struggled, he fought his own body. I observed the
struggle and saw myself in it. ""I know,"" I told him.

Eventually Mica said, quite seriously, that he wanted to stop. I was certain that he could
take more. A lot more. I might have been able to convince him to continue, and had him
thank me for it later. But he needs to know that I'll respect him when he says to stop.
Also, in a somewhat self-interested way, I don't want to set a precedent where his
boundaries are entirely nonverbal; where his limits depend on my capacity to see through
him. Maybe someday, when we know each other really well. Right now, it would make it
too easy to seriously harm him... and for him to hate me afterwards.

So I stopped.

""No one has ever touched me so deeply, so fast before,"" Mica said, later. And, later later:
""This changes everything."" I lay still, kept my arms around him, listening. ""That was
total catharsis,"" he said. ""I mean --"" a note of doubt crept into his voice. ""Do you actually
like doing that?”

""Yes,"" I said. I said it fast and hard, because he needs to believe it. I understood why he
was asking: I've been there. When I was first getting into S&M, the first time I felt that
way, I had a hard time believing that my partner actually liked doing that for me. It felt so
incredible. It felt like I couldn't possibly be giving back as much as I received.
Sometimes, I still feel that insecurity.

""I'm glad you like it,"" Mica said. I felt his body relax next to mine. ""Because I'm going to
want that again.”

""I know,"" I said softly.

HOUSE_OVERSIGHT_018675
"
IMAGES-007-HOUSE_OVERSIGHT_023012.txt,"January: Virginia Roberts files court papers in Florida claiming that she was
forced by Epstein to have sex with Prince Andrew and lawyer Alan Dershowitz when
she was underage. In a sworn affidavit, she provides photographs of her with the
prince and with Epstein’s close associate, British socialite Ghislaine Maxwell. She
claims Maxwell worked as Epstein’s madam, which she denies. Dershowitz and the
prince deny her claims as well, setting off a series of legal actions between
Dershowitz and Roberts’ attorneys that are later resolved in an out-of-court
settlement.

April: A federal judge rules that Roberts cannot join the federal Crime Victims’
Rights Act lawsuit and that her affidavit — accusing Prince Andrew and Dershowitz
of having sex with her when she was underage — be stricken from the case.
Dershowitz said the ruling meant he was vindicated. However, the judge does not
address the veracity of Roberts’ claims, writing: “The factual details regarding with
whom and where the Jane Does engaged in sexual activities are immaterial and
impertinent to this central claim.”

September: Roberts sues Maxwell in federal court in New York, claiming that
Epstein’s alleged madam defamed her in public statements in the media. The
lawsuit is widely viewed as a vessel for Epstein’s victims to expose the scope of
Epstein’s crimes. Several civil lawsuits filed the same year allege that Epstein and
Maxwell operated an international sex trafficking operation.

HOUSE_OVERSIGHT_023012
"
IMAGES-008-HOUSE_OVERSIGHT_025340.txt,"a

money.com / Kristen Bahler Emma Lee is the kind of student your
parents always wanted you to be. She carries a hand-bound notebook

wherever she goes, pulling it out of her...

Blood Feasts and Roach Vacuums: The
Life of an Urban Pest Scientist

HOUSE_OVERSIGHT_025340
"
IMAGES-003-HOUSE_OVERSIGHT_014600.txt,"Exhibit 79: US 10-Year Yields and Term Premium
Expected tapering from major central banks has contributed
to higher long-term yields and bond term premiums.

10-Year Treasury Yield

eT Risk-Neutral Yield
Term Premium

1

2011 2012 2013 2014 2015 2016

Data through December 31, 2016.
Source: Investment Strategy Group, Bloomberg.

Exhibit 80: US 10-Year Breakeven Inflation Rate
and Consensus Inflation Rate Forecasts

TIPS benefited from a recovery in breakeven inflation
rates in 2016.

% Annualized
3.0

10-Year Breakeven Inflation
10-Year Ahead Inflation Forecast

25

2.0

0.5

0.0

2011 2012 2013 2014 2015 2016

Data through December 31, 2016.
Source: Investment Strategy Group, Bloomberg.

We think that breakeven inflation rates have
further room to rise as the concerns that depressed
them last year fade. First, oil prices are recovering,
reversing the persistent drag they had exerted
throughout much of early 2016. Second, wages are
firming and fiscal policy is being eased, dampening
deflation worries. Finally, recession odds are
falling as the drag from oil weakness and dollar
strength fades.

With breakeven inflation rates still below long-
term consensus forecasts and the Federal Reserve’s
target, we expect positive total returns from TIPS
in 2017. Still, TIPS’ absolute returns are likely to
be modest, as their eight-year duration will make it
difficult for coupon income to meaningfully exceed
principal losses as rates rise. Moreover, given TIPS’
unfavorable tax treatment (discussed at length
in our 2011 Outlook), we continue to advise US
clients with taxable accounts to use municipal
bonds for their strategic allocation.

We expect rates to continue to
increase, albeit at a slower pace in

2017, as many of the forces that have

restrained yields are slowly fading.

US Municipal Bond Market

Municipal bond holders were not immune from
2016’s about-face in US Treasury yields. Last
October, municipal bonds were enjoying some of
their best returns in years, only to be hit by losses
arising from both rising interest rates and budding
concerns about tax changes in the wake of the US
presidential election. The abrupt redemptions of
municipal bond mutual funds only exacerbated
these losses, with the pace of outflows second only
to the mid-2013 taper tantrum (see Exhibit 81).
All told, municipal bonds suffered one of their
worst years in recent history, with intermediate
municipal bonds actually experiencing a rare loss
(see Exhibit 82).

Unfortunately, the near-term outlook remains
challenging. As Exhibit 81 reminds us, mutual
fund flows tend to be sticky in this asset class,
with persistent periods of both buying and selling
depending on the trajectory of interest rates. Based
on historical episodes, there is scope for the current
string of outflows to extend further.

Moreover, clarity on tax policy will
remain elusive for months, during which
time headline risk will be significant.
Even worse, a sizable reduction in the
top individual tax rate for municipal
bonds—if ultimately passed—could
significantly shift the economics of
owning them, leading to further sales.

These fresh worries on tax policies

Outlook | Investment Strategy Group 67

HOUSE_OVERSIGHT_014600
"
IMAGES-012-HOUSE_OVERSIGHT_032577.txt,"From:

Sent: 9/8/2017 1:29:56 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High

you think you will be in new york?

Sent from my iPhone

On Sep 8, 2017, at 1:33 PM, jeffrey E. <jeevacation@gmail.com> wrote:

I will get larson to call you

On Fri, Sep 8, 2017 at 12:26 PM, x wrote:

i will bring you some kuwaiti gifts but not food@

Sent from my iPhone

On Sep 8, 2017, at 11:52 AM, jeffrey E. <jeevacation@gmail.com> wrote:

what is your schedule in new york how long will you be there?

On Fri, Sep 8, 2017 at 9:09 AM, wrote:
things look very bad in the gulf .. my feeling trump do not want to end it

Sent from my iPhone

On Sep 8, 2017, at 2:28 AM, jeffrey E. <jeevacation@gmail.com> wrote:

your man did well . congragulations

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032577
"
IMAGES-005-HOUSE_OVERSIGHT_019543.txt,"Hacktivist | 55

cyber signatures of foreign parties suspected of hacking into U.S.
government systems.

He also made efforts to directly contact Sandvik. She recalls
first hearing from Snowden in November 2012. He first wrote to
her under the alias Cincinnatus but later supplied his real name
and mailing address in Hawaii because he wanted her to mail him
authentic computer stickers from the Tor Project that he could use
as “swag,” as he wrote her, to attract further interest in Tor software
in Hawaii. As a result, she knew his identity seven months before he
went public in Hong Kong. He would later tell Sandvik from Mos-
cow that he had been “moonlighting” by working to advance the Tor
Project. He added, with some understatement, that his moonlighting
was “something the NSA might not have been too happy about.”

On November 18, 2012, while still working for Dell at the NSA,
his dual role led him to begin organizing a “CryptoParty” aimed at
finding new recruits for Tor. The CryptoParty movement had been
started in 2012 by Asher Wolf, a radical hacktivist and anarchist liv-
ing in Melbourne, Australia. She promoted the get-togethers not

© unlike the Tupperware parties of the 1950s. The party organizer, ©
usually with a representative of the Tor Project, advertised the party
on the Internet. Attendees were encouraged to bring their own lap-
tops so they could install Tor as well as encryption software in them.
The attendees would then be instructed on how to use it. Finally,
those converted to Tor software would be told to proselytize about
its virtues by holding their own CryptoParty. Wolf's idea was to use
these gatherings to expand the realm of Tor.

Snowden called his fete the Oahu CryptoParty. It had its own web
page. He told Wolf that it would be the first CryptoParty in Hono-
lulu. She wrote back advising him to “keep it simple.” (Wolf later
said she did not know he was working at the NSA.)

Snowden apparently had no inhibitions in staging a party that the
leadership of the NSA might consider subversive of its battle against
Tor. He even invited fellow NSA workers in Hawaii, as well as others
in the local computer culture. He asked Sandvik, who was living in
Washington, D.C., at the time, to participate, proposing that she co-
host the party with him. He scheduled it for December 11, 2012, in
Honolulu. According to Sandvik’s account, Snowden informed her

| | Epst_9780451494566_2p_all_r1.z.indd 55 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019543
"
IMAGES-005-HOUSE_OVERSIGHT_018885.txt,"f§: . Chain of Custody FD-192

Case ID . : 31E-MM-108062 1B5 Barcode

SS es ne ~ b6
Accepted By: b7c
Printed Name: Signature :
Reason:..Collected....... ccc cee eee ee ees Date/Time: 09/2122. AL Ser.

HOUSE_OVERSIGHT_018885 —
"
IMAGES-002-HOUSE_OVERSIGHT_014261.txt,"[IMPORTANT MESSAGE

[ IMPO

FOR =<

| pate _ ela fer _ (E/E ___ awe 0's?

f PHONES
f MOBILE

| PHONES
| MOBILE

femeTo seevou | Jwaroanacan {||
fwamstoseevou | jmse | dt
| |rewweovourcal| —[eeeoaLaTrexnow |_|

Pearce he

|foueroseevou | Jwucurscan | ||
| [WANTS TO SEE YOU [ruse
| [rctumeo your car] —_sreciraTremon |_|

| MESSAGE

neat a hintaan nya, ain see AN A lee sor er enon er A ef mem th ARN ane oe
A —¥ . ene

bbbbbb

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eminem ae A re tn sn

PHONE? . a
MOBILE :

[TELEPHONED | TH cmd !

MESSAGE

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| SIGNED_

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GIUFFRE00 1399

HOUSE_OVERSIGHT_014261
"
TEXT-002-HOUSE_OVERSIGHT_033289.txt,"From: Martin Weinberg 
Sent: 4/27/2016 7:49:46 PM 
To: Jeff Epstein [jeeyacation@gmail.com]; 
Subject: Fwd: media inquiry - Fox News 
Importance: High 
Sent from my iPhone 
Begin forwarded message: 
From: 
Date: April 27, 2016 at 3:47:49 PM EDT 
To: 
Cc: 
Subject: media inquiry - Fox News 
Mr. Weinberg 
I was referred to you by Alan Dershowitz, who told me you're Jeffrey Epstein's attorney. 
If this is the case, I was hoping to reach him through you to see if he'd be willing to speak on the record about 
his ties - or previous ties - to both the Clintons and Donald Trump? 
Would you be able to arrange a call or email exchange this week? 
Thanks for your consideration. 
Investigative Reporter, 
FoxNews.com  
2044 Armacost Avenue 
Los Angeles, CA 90025 
HOUSE OVERSIGHT 033289 
This message and its attachments may contain legally privileged or confidential information. It is intended 
solely for the named addressee. If you are not the addressee indicated in this message (or responsible for 
delivery of the message to the addressee), you may not copy or deliver this message or its attachments to 
anyone. Rather, you should permanently delete this message and its attachments and kindly notify the sender by 
reply e-mail. Any content of this message and its attachments that does not relate to the official business of Fox 
News or Fox Business must not be taken to have been sent or endorsed by either of them. No representation is 
made that this email or its attachments are without defect. 
HOUSE OVERSIGHT 033290 
"
TEXT-001-HOUSE_OVERSIGHT_027044.txt,"From: Steve Bannon 
Sent: 6/10/2018 12:23:04 PM 
To: jeevacation@gmail.com 
Subject: Trump promises to host Italian prime minister Giuseppe Conte at White House to honor him 
Importance: High 
https://www.google.com/amp/s/amp.usatoday.com/amp/687949002 
It Begins 
HOUSE OVERSIGHT 027044 
"
IMAGES-002-HOUSE_OVERSIGHT_012610.txt,"_.08/16/2007 17:07 FAX 3618021787 USAO WPB FL Boog

| United States District Court

SOUTHERN DISTRICT OF FLORIDA.

TO: HARRY BELLER ‘SUBPOENA TO TESTIFY

BES, ELE BEFORE GRAND JURY
FGI 07-103(WPBY/No. OLY-75

SUBPOENA FOR:
PERSON [ DOCUMENTS OR OBJECTS]

YOU ARE HEREBY COMMANDED to appear aud testify before the Grand Jury of the United States District _..
Court at the place, date and time specified below.

ie, misw epics aky Honrmieimenieseecins iy ee

‘PLAGE: : ; ROOM:
United States District Courthouse | Grand Jury Room
* 701 Clematis Street - _
West Palm Beach, Florida 33401 } DATE AND TIME:

September 11, 2007
ese gee a ies _. __ | 1:00 pm*
YOU ARE ALSO COMMANDED to bring with you the following document(s) or object(s):

*Please coordinate your compliance with this sabpoena.and confirm the date, time, and location of your
appearance with 8/A Nesbitt Kuyrkendall, Federal Burcau of Investigation, Telephone; (561) 822-5946.

‘This subpoena shall remain in effect until you are granted leave to depart by the court or by an officer acting
on behalf of the court. ;

DATE:

(BY) DEAUTY CLERK apenas, SCE

This subpoena is issued upon application Name, Address and Phone Number of Assistant U.S. “Attomey
of the United Statcs.of America Ann Marie C. Villafata, Assistant U.S. Attomey

Ya P\f yy. fy 500 So. Australian Avenue, Suite 400
West Palm Beach, FL 33401-6235
Tel: (S61) 820-8711 x3047
ofaoiie .

FORM ORD-227
JAN.86

Teo boured in fice

HOUSE_OVERSIGHT_012610
"
IMAGES-003-HOUSE_OVERSIGHT_015536.txt,"Case 1:15-cv-07433 Document1 Filed 09/21/15 Page 6 of 12

27. Giuffre’s motion described Maxwell’s role as one of the main women who
Epstein used to procure under-aged girls for sexual activities and a primary co-conspirator and
participant in his sexual abuse and sex trafficking scheme.

28. In January, 2015, Maxwell undertook a concerted and malicious campaign to
discredit Giuffre and to so damage her reputation that Giuffre’s factual reporting of what had
happened to her would not be credited.

29. As part of Maxwell’s campaign she directed her agent, Ross Gow, to attack
Giuffre’s honesty and truthfulness and to accuse Giuffre of lying.

30. On or about January 3, 2015, speaking through her authorized agent, Maxwell
issued an additional false statement to the media and public designed to maliciously discredit

Giuffre. That statement contained the following deliberate falsehoods:

(a) That Giuffre’s sworn allegations “against Ghislaine Maxwell are untrue.”

(b) That the allegations have been “shown to be untrue.”

(c) That Giuffre’s “claims are obvious lies.”

Sls Maxwell’s January 3, 2015, statement incorporated by reference “Ghislaine
Maxwell’s original response to the lies and defamatory claims remains the same,” an earlier
statement that had falsely described Giuffre’s factual assertions as “entirely false” and “entirely
untrue.”

32. Maxwell made the same false and defamatory statements as set forth above, in the
Southern District of New York and elsewhere in a deliberate effort to maliciously discredit
Giuffre and silence her efforts to expose sex crimes committed around the world by Maxwell,

Epstein, and other powerful persons. Maxwell did so with the purpose and effect of having

HOUSE_OVERSIGHT_015536
"
IMAGES-008-HOUSE_OVERSIGHT_025368.txt,"Source Entry: H\Macintosh HD\ root \Users\jee\Library\Messages\Archive\2018-09-14\

MS, so) 2018-09-07 at 07.11.13.ichat

Service: iMessag

Start Time: 09/07/18 04:11:13 AM (558011473)
End Time: 09/14/18 07:45:23 PM (558672323)
Last Message ID: 20420

Chat Room:
Presentity IDs: e:jecitunestgmail.com, mm

Messages -

Sender: e:jeeitunes@gmail.com

Time: 09/07/18 04:11:13 AM (558011473)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: E576AED1-6207-4EB4-B7AD-199D8A74140D

Message: I liked the economist description of the movie as a victory lap . funny

Sender: e:jeeitunes@gmail.com

Time: 09/07/18 06:36:09 AM (558020169)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 91486C12-7D7/F-49AB-B83B-C2F9

ey

IEAFS3E6

Message: Some of my middle eastern guys think you are behind it

Sender: e:jeeitunes@gmail.com

Time: 09/07/18 06:36:14 AM (558020174)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: DFA26DD0-BB26-45BF-8A2F-A27F5448376D

Message: :;)

Sender: e:jeeitunes@gmail.com

Time: 09/07/18 08:40:19 AM (558027619)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: FB31E417-131C-4158-84D4-15D5D6CA34B3

Message: https://www.thecut.com/2018/09/i-refused-to-write-bannons-bio-for-the-new
yorker-festival.html

HOUSE_OVERSIGHT_025368
"
IMAGES-004-HOUSE_OVERSIGHT_018214.txt,"America becomes number two, we will still have a better world. In many
ways, the world is “converging” to American values and standards, as I
explain in The Great Convergence. The global middle class is booming,
interstate war 1s waning, and never before have people traveled and
communicated across the world so easily. These changes are creating
common values and norms across the world. Education and scientific
reasoning, for example, are enabling people the world over to speak with a
common language. However, while humanity is well on its way to
combating absolute poverty and interstate warfare, other problems are
surfacing. Preventing and curtailing transnational issues like climate
change, human and drug trafficking, and financial crises require
cooperation among nation states, yet this is not happening. A simple
analogy illustrates this. Before the era of modern globalization,
humankind was like a flotilla of more than 100 separate boats in their
separate countries. The world needed a set of rules then to ensure that the
many boats did not collide and facilitate their cooperation on the high seas
if they chose to do so. The 1945 rules-based order strived to do this, and
despite some obvious failures, it succeeded in producing a relatively stable
global order for more than 50 years. Today, the 7 billion people who
inhabit planet earth no longer live in more than 100 separate boats.
Instead, they live in 193 separate cabins on the same boat. But this boat
has a problem. It has 193 captains and crews, each claiming exclusive
responsibility for one cabin. No captain or crew cares for the boat as a
whole. The world is now sailing into increasingly turbulent waters with no
captain or crew at the helm. The Great Convergence echoes the themes
of Clinton’s 2003 Yale speech. It’s in the interest of all — particularly great
powers — to strengthen institutions of global governance so that we’re not
sailing blindly into choppy waters without a captain. The National
Intelligence Council recently projected that in 2030 Asia would overtake
the Western world economically, technologically and militarily. When
China becomes a world superpower in a matter of decades, the United
States and Europe will want to ensure that China plays by the rules.

But in order to make international organizations like the United Nations,
the IMF and the World Bank more credible and effective, they must

HOUSE_OVERSIGHT_018214
"
IMAGES-004-HOUSE_OVERSIGHT_017127.txt,"4.2.12
WC: 191694

Mostly, I worked very hard, achieving an A average and Phi Beta Kappa Honors, winning debate
tournaments and being elected president of the student council and captain of the debate team.
Reading became my passion: literature (Dostoyevski, Shakespeare, Bellow); philosophy (Kant,
Aristotle, Plato, Neitsche; history ( ) and politics ( ). Lloved
arguing with my professors. One of my favorites was John Hope Franklin, the first African
American appointed to the chairmanship of a department (history) in a college that was not
historically black. We remained friends and colleagues until his death in his mid-90s.

My presidency of the student council brought me into repeated conflict with Professor Harry
Gideonese, the President of the College, a Midwestern conservative who was brought to
Brooklyn to “clean out” what had become “the little red schoolhouse.” Several professors had
been fired, or not hired, because of the “red” or “pink” affiliations and I fought against this post-
McCarthy purge, on freedom of speech grounds. Leading the other side was a professor of
romance languages named Eugene Scalia, an elegant and brilliant reactionary, whose son Antonin
has followed in his ideological footsteps.

Despite my conflict with President Gideonese, the school nominated me for a Rhodes Scholarship.
In my application, I wrote the following:

I believe that my college career has been a period of moral and intellectual growth
throughout which time I have felt an increasing responsibility to my conscience in matters
of self improvement. I felt this personal responsibility so strongly in college because I had
almost completely neglected it throughout high school. A firm determination to show
myself, as well as my high school contemporaries, that I could become an outstanding
student in college has been a most potent motivating force.

I also listed my academic, political and athletic achievements, and promised that if admitted to
Oxford:

I would read for the Oxford B.A. in the Honor School of Jurisprudence and then enter
Law School in the United States.
In those days Jewish boys (only males were eligible for Rhodes) from Brooklyn were not selected
by the Rhodes Committee, and despite my academic, political and athletic accomplishments, I did
not even get an interview. It took several decades before Brooklyn College received its first
Rhodes Scholarship.

By my senior year at Brooklyn, I had decided to go to law school. That path seemed natural in
light of my success in debate and school politics. I had no idea what the practice of law was,
except what I had read about the careers of such legal luminaries as Clarence Darrow, Thurgood
Marshall, and Louis Brandeis. My uncle Morris was a lawyer, but he spent most of my formative
years in the Army and when he returned he specialized in contract cases, which held little interest
for me. I asked Grandma Ringel to introduce me to an old friend of hers, whom she always
referred to as “Judge Berenkoff.” I had no idea what kind of judge he was, but he was the only
judge I knew. My grandmother wondered why I wanted to meet Judge Berenkoff. I told her that
since he was a judge, he might have some good career advice for an aspiring lawyer. My

40

HOUSE_OVERSIGHT_017127
"
IMAGES-006-HOUSE_OVERSIGHT_021264.txt,"is gi d.eeneeS ‘¢ Ser nes ne
y §5 connection huddle, @
alse @ ike
eoples: structure
sce first

i collective
eS oe ted beyond long:ts 6 whe mene sel
‘Steaks humans: “Emperor

“ei0 survive #BeN€S |S ‘connections.

oe tan enough htymnani B! § witeu fe @ feel | wires ©
~~ adaptive capacity ti 3

swim relationships

efit
beh aviors

meaning New

Chapter 27

* The lead author is John T. Cacioppo, Ph.D., the
Tiffany and Margaret Blake Distinguished
Service Professor in the Departments of
Psychology and Psychiatry and the Director of
the Center for Cognitive and Social
Neuroscience at the University of Chicago. He
is a co-founder (with Gary Berntson) of the field
of social neuroscience, a past president of the
Association for Psychological Science and a
recipient of numerous awards mcluding the
National Academy of Sciences Troland Research
Award and the American Psychological
Association Distinguished Scientific
Contribution Award. Cacioppo’s research
concerns the neural, hormonal, genetic, and
behavioral mechanisms underlying the operation
and maintenance of the emergent structures that
characterize social species generally and humans
in particular. He has published more than 400
scientific articles and 16 books, including
Loneliness: Human nature and the need for
social connection (2008, Norton Books) and
Handbook of neuroscience for the behavioral
sciences (2009, John Wiley & Sons). Cacioppo
is also the Director of the Chicago Social Brain
Network.

Cacioppo has been interested both in
the similarities and the differences between
humans and other species. Human social
cognition, emotion, behavior, and executive
functioning — that is, our social brain — are
especially sophisticated compared to those found
in other species. Research in the neurosciences
sometimes focuses so much on mechanisms
divorced from the social settings and functions
they may have evolved to serve in social species
such as our own that the generalizations to
humans are inaccurate. Animal models permit
experimental control and interventions that
cannot be carried out in humans, but
understanding the implications of this work for
the human brain and biology depends on explicit

Page |18

The Social Nature of Humankind

Social species, by definition, are
characterized by the formation of structures
(e.g., dyads, families, tribes, cultures) that
extend beyond an individual. Although we
may revere the rugged individualist, we are
fundamentally a social species. I begin by
discussing some of the invisible evolutionary
forces that led members of our species to band
together to form such structures. I then
consider how selfish genes (e.g., through
anthropomorphism, /) might have led to social
brains and why the social connections and
structures created by humans are especially
powerful and flexible. Finally, I describe a
nonintuitive way of thinking about the
absence of satisfactory social connections
(i.e., loneliness), mention how and why
chronic loneliness can be so harmful, and
discuss how our need for social connection
motivates us to search for meaning and
connections beyond ourselves and other
individuals. One implication that is explored
here, and in more detail in the essays to
follow, is that genetic and cultural adaptations,
not human ignorance, may be fueling the
search for meaning and connection with a
transcendent entity or being.

Mythic Individualism

For at least the past century, we
have celebrated the power and
intellectual might of the solitary genius.
This includes individuals such as
Thomas Edison who brought electrical
power to individual households,
transforming night into day; Henry Ford
who introduced the mass production of

comparison to and knowledge of the rich
benefits of human social interaction and feelings
of connection. This essay addresses this gap in
our thinking about the genetic, neural, and
hormonal processes that constitute our brain and
body and in doing so provides a different
perspective on who we are as a unique biological
species.

HOUSE_OVERSIGHT_021264
"
IMAGES-009-HOUSE_OVERSIGHT_028205.txt,"/ BARAK/ 71

they were willing to consider full Palestinian sovereignty over two Arab
neighborhoods in East Jerusalem, and even some form of Palestinian authority and
control in the Christian and Muslim quarters inside the walls of the Old City. They
had dropped our insistence on Israeli control over the Jordan Valley, suggesting
that we hold on to only a small segment of the border with Jordan. They had gone
beyond the share of the West Bank allocated to a Palestinian state on the map that
Abu Ala’a wouldn’t even look at. Now, they suggested around 90 percent. But
when I asked what the Palestinian negotiators, Saeb Erekat and Mohammed
Dahlan, had proposed in return, the answer was almost nothing. They had taken
notes. They had asked questions. The one Palestinian proposal, from Saeb Erekat,
was on Jerusalem: Palestinian sovereignty over a// the city’s predominantly Arab
areas, and Israeli sovereignty over Jewish neighborhoods. In other words, a
division of the city.

Even though I was concerned that Gili and Shlomo had gone so far, especially
on Jerusalem, I’d reached the point where I doubted that even that would matter.
We were now in day-six of the summit, barely 48 hours from President Clinton’s
departure for the G-8 summit, and we were negotiating only with ourselves.
Knowing that the President planned to go see Arafat, I sat down and wrote him a
note — emotional not just because I did it quickly, but because of how deeply let
down I felt by the Palestinians’ deliberate avoidance of a peace deal which, with
genuine reciprocity, should have been within reach. “I took the report of Shlomo
Ben-Ami and Gilead Sher of last night’s discussion very badly...” it began. “This is
not a negotiation. This is a manipulative attempt to pull us to a position we will
never be able to accept, without the Palestinians moving one inch.” I reminded
President Clinton that just as he was taking political risks, I was too. “Even the
positions presented by our people last night, though they are not my positions,
represent an additional risk,” I said.

I said I doubted there would be another Israeli leader willing to engage in
serious efforts for a final peace agreement with the Palestinians after what had
happened here. Unless things changed dramatically, I was not prepared for us to
throw out further suggestions, or consider painful concessions. “I do not intend to
allow the Israeli state to fall apart, physically or morally. The State of Israel is the
implementation of the dream of the Jewish people, for generation upon generation.
We achieved it after enormous effort, and at the expenditure of a great deal of
blood and sweat. There is no way I will preside at Camp David over the closing of

357
HOUSE_OVERSIGHT_028205
"
IMAGES-003-HOUSE_OVERSIGHT_014628.txt,"dislocation (more metrics can be found in our Alternating Currents Weekly). We rate ED
Underweight to take advantage of this sector dislocation. ED on its own is
fundamentally overvalued. ED trades at a 0.5x premium to its peers despite having
slower than average growth prospects, increasing regulatory complexity, and the
overhanging risk of fines for the Harlem explosion.

Table 1: ConEd key stock data

Industry US Electric Utilities
Market Cap (mn) $22,400
Price $74.07
Total Debt / 2019 EBITDA 3.88
% of sell-side rated Sell 26.3%
Short interest % of float 3.94%

Source: Bloomberg and BofA Merrill Lynch Global Research estimates

Not your grandmothers ConEd - increasing complexity changes investment story
ConEd is facing very slow growth electric demand growth in its utilities with 0.2% y/y
growth in its CECONY subsidiary through 20201 and -0.1% growth in its O&R
subsidiary. To offset this slow growth, ConEd has been increasing the complexity of its
business by purchasing gas and electric transmission assets which have higher growth
potential but face more market risk (most notably the JV with Crestwood in the
Stagecoach midstream pipeline system). Furthermore, the regulatory regime in New
York is undergoing a fundamental shift as the Reforming Energy Vision (REV) program is
implemented. REV seeks to fundamentally change how utilities are compensated by
creating more of a ‘platform’ for energy delivery. Slow growth, changing business mix,
and new regulatory constructs add considerable risk to what used to be a “go to” vanilla
regulated utility.

An overvalued Sector and Potential Catalysts

For a long time, ConEd was viewed as the quintessential utility and, during the run-up in
Utility valuations in 2016 its shares outperformed despite its weakening fundamentals.

As the story becomes more complex and the utility sector adjusts to lower valuation we
would expect ED to underperform with a similar symmetry to other utility stocks.

Latest reports:
Recent BofA Merrill Lynch Global Research Reports

Title: Subtitle Primary Author Date Published
Utilities: Fed promises more hikes: utes face more downside Brian Chin 15 December 2016
risk in early 2017

Utilities: Alternating Currents Weekly Brian Chin 18 December 2016

1Q17 risks: Risks to our thesis are primarily macro related. If utility sector valuations
remain disconnected from historical fundamentals for the quarter or if rising interest
rates significantly reverse course our Underweight rating on ConEd could not
materialize.

Company Description: Consolidated Edison (ED) is the owner of Consolidated Edison
Company of New York (CECONY) and Orange & Rockland Utilities (O&R) providing
electric, gas and steam service to 3.5 million customers in New York City and the
northern suburbs. ConEd also has a transmission segment with gas pipeline, storage,
and electric transmission. Finally, ConEd has three competitive energy businesses:
ConEd Development (energy infrastructure), Energy (wholesale services), and Solutions
(retail services).

Bankof America <>
Merrill Lynch Top 10 US Ideas Quarterly | 03 January 2017 7

HOUSE_OVERSIGHT_014628
"
IMAGES-009-HOUSE_OVERSIGHT_027136.txt,"Is Read: No

Is Invitation: No

GUID: C1OBDB80-6A93-47B0-94D6-54C2D1924120

Message: clever

Time: 01/27/17 08:06:33 AM (507225993)

Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: D435264C-0744-4579-9

r,

Message: Will try He loves you

Time: 01/27/17 08:06:48 AM (507226008)

Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: 45D2E5DD-68FF-4E67-8CB4-C3

Message: And he says hi

TE

Time: 01/27/17 08:07:18 AM (507226038)

Flags: 1060865
Is Read: Yes

Is Invitation: No

1H1-926C464415]

el
QO

(ECA3 6C667

GUID: 907CE6CA-BAF4-4F89-9AC1-928F22FCDF34

Message: He feels bad about the DAF btw He thought great idea but wife wouldn't allow

sender:

Time: 01/27/17 08:28:50 AM (507227330)

Flags: 1126401
Is Read: Yes
Is Invitation: No

GUID: AOQA8A259-6BAD-4DD5-8C50-0!

Message: I'm w him tonight 9p till ? Then till 1130am tmr

Sender: iy

EF45CD871

Time: 01/27/17 08:29:13 AM (507227353)

Flags: 1060865
Is Read: Yes

Is Invitation: No

GI

53

HOUSE_OVERSIGHT_027136
"
IMAGES-006-HOUSE_OVERSIGHT_021502.txt,"To: New York ~@ Miami :

Re: 31E-MM-108062, 02/06/2008

E i 111 in New York or elsewhere,
upon his arrival in Palm Beach. The PBCRA's
investigation has collected the flight manifest for Epstein's two
private planes during the period of January 2004 through December
2005 as well as cellular phone records for Bpsteinl 1]

[isd The investigation revealed that prior to the flights
to Palm Beach, eeeeeeEeeeeeEeEEeEeeEeEe—eEeEexEeEeee

[| The massage pads show evidence that the girls responded to
those telephone calls and in some imatanees|

left for Epstein.

In addition to the home in Palm Beach, Epstein also
maintains residences in the U.S. Virgin Islands, New Mexico and
his New York residence, 9 E. 71lst Street, New York, NY 10021.

Based on the ongoing criminal investigation, the PBCRA
is requesting assistance in establishing Epstein's criminal
activity utilizing interstate commerce and the travel in
interstate commerce to engage_in illicit sexual conduct and
prostitution. 10/05/2007,[ _——CSd|sXass: telephonically
interviewed. a eised that she and additional minor
females had participated in similar activity with Epstein in the
New York area. Epstein utilized the same modus operandi which
has been documented in multiple interviews of minor females in
the Palm Beach, Florida area. Prior to conducting captioned

leads, it is reque hat the lead agent(s) contact sa[_ |
for investigative direction and

questions.

HOUSE_OVERSIGHT_021502 _
"
IMAGES-011-HOUSE_OVERSIGHT_031588.txt,"practice of foreign policy, and as such is antithetical to Western ideals,
which raises questions, misunderstandings, and fears among the Western
powers as China emerges a major world power. The notion of peaceful
development is also important, and is central to Xi Jinping’s
administration. This concept means that China seeks peaceful relations
with other members of the international community to establish fruitful
economic relations that will serve Chinese development goals. To achieve
this goal, China needs a stable environment. The concept of peaceful
development means, according to Xi Jinping, that “China will never seek
hegemony or expansion.”

Although Western powers may not approve of the “Chinese Model,” it
does explain Chinese policy on the Syrian crisis.

It is also worth noting the influence of China’s domestic situation on
Chinese policy in Syria. Beying cannot legitimize any insurrection abroad,
as it has to deal domestically with separatist issues (such as in Tibet,
Xinjiang, or Inner Mongolia.). To show that domestic considerations can
logically obliterate considerations of human rights, George Abu Ahmad,
taking domestic policies of Iran, Russia or China as an example, explains
that “the exceptional decision to attack the population is, therefore, not
only a sovereign right of the twentieth-century state, but the paramount
right that guarantees a state’s integrity.” This perspective helps us to
understand the way in which China may have internalized the causes of
the Syrian crisis in the context of its own domestic separatist issues and
thus cannot provide any legitimacy to an insurrection abroad.

A final point to make is China’s inability and unwillingness to take on a
“superpower” role within the international community. China has no
experience being a political leader on the international stage, and as a
result has mostly abstained in the Security Council on any draft resolution
that did not directly affect its own domestic situation. Nor does it like to
take any strong stances that could lead to diplomatic clashes with a major
power, especially the U.S. It seems improbable, given the record of
Chinese positions in the UN, that China would have opposed the Western
resolutions on Syria without the support of Russia.

HOUSE_OVERSIGHT_031588
"
IMAGES-004-HOUSE_OVERSIGHT_017899.txt,"834

dant Dallah Al Baraka Group, which is
chaired by Defendant Saleh Abdullah Ka-
mel. Saudi American Bank is close to the
Saudi Bin Laden family, ... appears on its
financial transactions” and provides bank-
ing services to its Sudanese operations.
Ashton Complaint 11 607-8; Burnett Com-
plaint 19 144, 146.

“In the year 2000, the Saudi American
Bank participated in the fundraising cam-
paign in Saudi Arabia for collecting dona-
tions to the ‘heroes of the Al Quds upris-
ing’ (Intifada) by providing a bank account
and facilities to receive donations for a
committee of charity organizations includ-
ing Defendants WAMY, ITRO and Al Har-
amain Foundation.” Ashton Complaint
1609; Burnett Complaint 1 147.

The essence of Plaintiffs’ claim is that
through its relationships with other banks
and support of the Saudi Binladin group’s
work in Sudan, Saudi American Bank pro-
vided material support to al Qaeda. It is
not alleged to have done anything to di-
rectly support al Qaeda, Osama bin Laden,
or their terrorist agenda. As the Court
has stated before, there can be no bank
liability for injuries caused by money rou-
tinely passing through the bank. Saudi
American Bank is not alleged to have
known that anything relating to terrorism
was occurring through the services it pro-
vided. The Ashton Plaintiffs have dis-
missed their claims against Ahmed Nur Ali
Jumale, allegedly an associate of Osama
bin Laden. To the extent the Burnett
Plaintiffs continue their claims against
him, his employment at Saudi American
Bank from 1979 to 1986 cannot be grounds
for relief. Osama bin Laden did not orga-
nize al Qaeda until the late 1980s, Saudi
American Bank is not alleged to have pro-
vided Jumale with a veil of legitimacy or
shelter. Cf Burnett I, 274 F.Supp.2d at
104 (finding Al Haramain’s employment of
al Qaeda operative during height of al

349 FEDERAL SUPPLEMENT, 2d SERIES

Qaeda activity a sufficient allegation of
providing material support). The com-
plaints have provided Saudi American
Bank with no notice of Plaintiffs’ claims or
grounds for relief. Accordingly, Saudi
American Bank’s motions to dismiss the
Ashton and Burnett complaints are grant-
ed in their entirety.

3. Arab Bank

[97] The Federal Plaintiffs claim Arab
Bank is a financial institution headquar-
tered in Egypt with branch offices
throughout the world, including New York.
Federal Complaint 1357. Arab Bank
claims it is actually a Jordanian bank
headquartered in Amman, Jordan. Arab
Bank allegedly has “long provided finan-
cial services and other forms of material
support to terrorist organizations, includ-
ing al Qaeda.” Federal Complaint 1358.
Further, these Plaintiffs allege that the
September 11 attacks were a “direct, in-
tended and foreseeable product of Arab
Bank’s participation in al Qaeda’s jihadist
campaign.” Jd. 11364, 363. These claims
are based on the allegation that Arab Bank
has “long known that accounts it main-
tained were being used to solicit and trans-
fer funds to terrorist organizations [and
despite this knowledge] Arab Bank has
continued to maintain those accounts.” Id.
1362. Specifically, the Federal Plaintiffs
claim Arab Bank accounts have been used
for al Qaeda money transfers throughout
the world and that Arab Bank maintains
accounts for Defendant charities including
IIRO, MWL, WAMY, BIF, Blessed Relief
(Muwaffaq) Foundation, and Al Haramain.
Id. 9359, 360. Israeli officials allegedly
have seized funds associated with several
Arab Bank accounts maintained on behalf
of known fronts for Hamas and identified
by Arab Bank employees, “confirming the
bank’s specific knowledge that accounts it
maintained were being used to sponsor
terrorist activity.” Id. 1361.

HOUSE_OVERSIGHT_017899
"
IMAGES-007-HOUSE_OVERSIGHT_023984.txt,"Known as Napa of the North, Canada's Okanagan region is a year-
round retreat east of Vancouver. The area is home to award-winning
wineries, Canada's warmest lake and a stunning desert landscape fit for
golfing virtually every day of the year. With exceptional service and
Pueblo-style architecture, Spirit Ridge Vineyard Resort & Spa is just as
much a hotel for oenophiles looking to unwind as it is for golf fanatics
and families looking to take advantage of mild weather and myriad
activities.

Click here to preview sale

Starting
Thursday 28/7 at

Houston's Worldly Side

Hotel Derek - Houston

HOUSE_OVERSIGHT_023984
"
IMAGES-009-HOUSE_OVERSIGHT_027650.txt,"Source
on 2019-05-06 at 09.20.15.ichat

Serve iMessag

Start Time: 12/02/18 11:15:13 AM (565470913)
End Time: 05/06/19 07:11:01 AM (578844661)
Last Message ID: 28742

Chat Room:

Participants: jee, Joi Ito

Messages -

Time: 12/02/18 11:15:13 AM (565470913)

Flags: 1126401
Is Read: Yes

Is Invitation: No

GUID: 959D17B5-8685-4ED3-AB60-E8CE1ICO25FF
Message:
stuff so I don't think I can make it today.

Sender: e:jeeitunes@gmail.com

Time: 12/02/18 11:33:22 AM (565472002)

Flags: 1093637
Is Read: Yes
Is Invitation: No

GUID: 416FD7/46-7DE9-4462-9F75-558510DA41A7

Message: Ok

Sender: e:jeeitunes@gmail.com

Time: 12/02/18 02:56:41 PM (565484201)

Flags: 1093637
Is Read: Yes

Is Invitation: No

GUID: 8D6E6C76-408A-4712-8544-70EBS53CCCB10

Message:

12/02/18 03:28:11 PM

Im sorry you missed s Great!!! Day

Time: (565486091)

Flags: 1060865
Is Read: Yes

Is Invitation: No

8FA58 6AD-A435-445C-8712-7EBEOBBDC2!]

Gl
OV

GUID:

Message: Sorry to miss it!

Presentity IDs: e:jeeitunes@gmail.com, po

Entry: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2019-05-06\Joi Ito

My train is late and I have to take care of some sick doggie stuff and home

Pleas

giv

me best to everyone.

HOUSE_OVERSIGHT_027650
"
IMAGES-008-HOUSE_OVERSIGHT_024710.txt,"ACKRELL
CAPITAL Cannabis Investment Report | December 2017

introduction into interstate commerce” of any drug, medical device, food, tobacco product or cosmetic
undertaken without the required FDA approval, permit or registration.

An article that includes cannabis or a cannabis derivative could conceivably qualify as a drug, medi-
cal device, food, tobacco product or cosmetic (or a combination). For example, a skin lubricant infused
with cannabis extract and intended to relieve muscle pain may be both a cosmetic and a drug, and a
prefilled device used to administer a metered dose of vaporized THC for treating nausea may be both
a medical device and a drug. Industry dialogue regarding the FD&C Act and the FDA tends to focus
on cannabinoid-based drugs and the potential for certain cannabis products to be regulated as food or
a related category of products known as “dietary supplements,” and we expand on both topics in the
following discussion.

Drugs
Generally, the FD&C Act defines a “drug” as any one of the following:

(i) Any article recognized in the official U.S. Pharmacopoeia, U.S. Homeopathic Pharma-
copoeia or National Formulary.

(ii) Any article intended for use in the diagnosis, cure, mitigation, treatment or prevention of
disease in humans or animals.

(iii) Any article (other than food) intended to affect the structure or any function of the body
of humans or animals.

(iv) Any article intended as a component of any of the foregoing.

The FDA oversees the manufacturing of drugs by inspecting domestic and foreign manufacturing
plants, by sampling drugs from retail stores, distribution warehouses and manufacturing plants and by
evaluating complaints and reports of defects from consumers and health care professionals. The FD&C
Act generally prohibits a company from introducing a drug into interstate commerce without the FDA
having first approved the drug as safe and effective for treating a specified medical condition.

FDA approval of a drug as safe and effective for treating a specified medical condition generally
involves the following steps:

(i) The drug’s manufacturer performs laboratory and animal tests to determine how the drug
works and whether it is safe enough to test on humans.

(ii) If the manufacturer determines the drug is safe enough to test on humans, then the manu-
facturer submits for FDA review an Investigational New Drug (IND) application.

(iii) Upon review of the IND application, if the FDA determines the drug is safe enough to test
on humans, then the FDA approves the manufacturer to proceed with human clinical trials.

(iv) The manufacturer performs a series of human clinical trials and submits the resulting data
for FDA review in the form of a New Drug Application (NDA). Upon review of the NDA,
if the FDA determines the drug’s benefits outweigh its known risks and the drug can be
manufactured in a way that ensures a quality product, then the drug is approved as safe and
effective for treating the specified medical condition.

74 © 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024710
"
IMAGES-004-HOUSE_OVERSIGHT_017641.txt,"Page 6 of 78
2007 Utah L. Rev. 861, *869

2000, after three days of floor debate, the amendment was shelved when it became clear that its opponents had the votes to
sustain a filibuster. ” At the same time, hearings were held in the House on the companion measure there. “4

Discussions about the amendment began again after the 2000 presidential elections. On April 15, 2002, Senators Kyl and
Feinstein again introduced the amendment. * The following day, President Bush announced his support. *© On May 1, 2002,
a companion measure was proposed in the House. *7 On January 7, 2003, Senators Kyl and Feinstein proposed the amendment
as Senate Joint Resolution 1. The Senate Judiciary Committee held hearings in April of that year, ** followed by a written
report supporting the amendment. * On April 20, 2004, a motion to proceed to consider the amendment was filed in the
Senate. Shortly thereafter, the motion to proceed was withdrawn when proponents determined they did not have the sixty-seven
votes necessary to pass the measure. After it had become clear that the necessary super-majority votes were not available to
amend the Constitution, victims advocates turned their attention to enactment of a comprehensive victims’ rights statute.

B. The Crime Victims’ Rights Act

The Crime Victims’ Rights Act ultimately resulted from a decision by the victims’ movement to seek a more comprehensive
and enforceable federal statute rather than to pursue the dream of a federal constitutional amendment. In April 2004, victims
advocates met with Senators Kyl and Feinstein to decide whether to push again for a federal constitutional amendment.
Concluding that the amendment lacked the required supermajority, the advocates decided to press for a far-reaching federal
statute protecting victims’ rights in the federal criminal justice system. *° In exchange for backing off from the constitutional
amendment in the short term, victims advocates received near universal congressional support for a ""broad and encompassing""
statutory victims! bill of rights. >! This ""new and bolder"" approach not only created a bill of rights for victims, but also
provided funding for victims’ [*870] legal services and created remedies when victims' rights were violated. >* The victims’

movement would then see how this statute worked in future years before deciding whether to continue to push for a federal

amendment. *3

The legislation that ultimately passed - the Crime Victims' Rights Act - gives victims ""the right to participate in the system."" >4

It lists various rights for crime victims in the process of prosecuting the accused, including the right to be notified of court
hearings, the right to attend those hearings, the right to be heard at appropriate points in the process, and the right to be treated
with fairness. *° Rather than relying merely on the ""best efforts"" of prosecutors to vindicate the rights, the CVRA also contains

*# 146 Cong. Rec. $2986 (daily ed. Apr. 27, 2000) (statement of Sen. Kyl).
* Td. at $2966 (statement of Sen. Kyl).

“4 EHLRJ. Res. 64, 106th Cong. (2000).

45 § J. Res. 35, 107th Cong. (2002).

#6 149 Cong. Rec. 582 (daily ed. Jan. 7. 2003) (statement of Sen. Kyl).

47 HERJ. Res. 91, 107th Cong., (2002).

48 A Proposed Constitutional Amendment to Protect Crime Victims, S.J. Res. 1: Hearings Before the S. Comm. on the Judiciary, 108th Cong.
(2003).

49 §. Rep. No. 108-191 (2003).
© Kyl et al., supra note 31, at 591-92.
5! 150 Cong. Rec. $4261 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).

*2 Td. at $4263 (statement of Sen. Feinstein).

3 Td. at S4260 (statement of Sen. Kyl); see also Prepared Remarks of Attorney General Alberto R. Gonzales, Hoover Inst. Bd. of Overseers
Conference (Feb. 28, 2005) (indicating a federal victims' rights amendment remains a priority for President Bush).

4 150 Cong. Rec. $4263 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein). For a description of victim participation, see Beloof, supra
note 6.

55 18 U.S.C. § 3771 (a) (2006).
DAVID SCHOEN

HOUSE_OVERSIGHT_017641
"
IMAGES-009-HOUSE_OVERSIGHT_027888.txt,"Among the precautions they took was to base several hundred reservists from
the Alexandroni Brigade in a defensive position near the Mediterranean: the
eucalyptus grove at the top end of our kibbutz, where the cover was so dense
they were all but invisible from the air.

We kids seized on the chance to talk to the reservists. I can’t remember
whether it was Ido or Moshe who noticed an area at the back of their
encampment, on the other side of the kibbutz cemetery, where neatly stacked
boxes of munitions were being kept. But we spent the next several afternoons
on reconnaissance. A soldier was always on guard. But there were times the
area was unwatched, either when one guard handed over to the next, or on their
cigarette breaks.

We struck the following Friday. Nowadays, the cemetery consists of a half-
dozen rows of headstones. Walking through it, as I still do at least once each
year, 1s like revisiting my past. Almost all the grown-ups I remember from my
childhood now rest there, including my parents. My father died in 2002, at the
age of 92. My mother passed away only a few years ago, a few weeks after her
100"" birthday. But in 1956, the cemetery was tiny. The chances of anyone being
there at midnight on a Friday were close to zero. Crouching in the shadow of the
headstones, we could see the guard. We waited until he left for his break. Each
of us took a wooden box and one of the slightly larger metal boxes. Inside, we
found a treasure trove: thousands of bullets for all kinds of weapons. The metal
cases held heavier firepower: grenades and mortars. We returned those. We
were mischievous, but not crazy. Yet each of us now had a crate full of
ammunition, even including belts for machine guns.

My experience at school began to change in my early teenage years as well.
Shortly before my fourteen birthday, our age group was sent to a school outside
Mishmar Hasharon. The kibbutz had decided that since there were only a
dozen-or-so children in each class, it wasn’t economically viable to provide a
quality education. They sent us to the regional high school.

It was several hundred yards down the road in the direction of Tel Aviv. It
was far more rigorous. I was no longer the only kid in my class who liked to
read or could do math problems in his head. It was there I first got truly

40
HOUSE_OVERSIGHT_027888
"
IMAGES-007-HOUSE_OVERSIGHT_024033.txt,"INVESTMENT PERFORMANCE BY SECTOR

BIOPHARMACEUTICAL RETURNS SUMMARY:

The New Leaf team’s biopharmaceutical investment performance has been strong in all funds.
In aggregate, the New Leaf team has invested $945 million in 64 biopharmaceutical
investments, and the historic realized biopharmaceutical results are 2.29x gross realized cash-
on-cash return (“Multiple”) and a 21.4% gross realized IRR. These realized returns have been
driven by successful early and later stage investments. Table 1 summarizes the gross realized
and unrealized returns from biopharmaceutical investments in each New Leaf fund and the
Sprout Funds.

Table 1: Gross Biopharmaceutical Performance by Fund Group

$ amounts in millions, as of March 31, 2014

Deals Total Cost Total Realized Unrealized Realized Overall Realized Overall

New Leaf Ventures II, L.P. (2008) 20 $209.0 $508.5 $218.0 $290.4 2.59x 2.43x 67.5% 58.3%
New Leaf Ventures I, L.P. (2005) 14 $205.6 $501.6 $167.3 $334.4 1.68x 2.44x 22.8% 23.5%
All Sprout Funds (1993, 1995, 1998, 2000) 30 $533.5 $1,217.0 — $1,163.9 $53.1 2.37x 2.28x 20.6% 20.0%
Total 64 $948.2 $2,227.11 $1,549.2 $677.9 2.29% 2.35x 214% 21.6%

Please see the endnotes in Appendix 4 for definitions of terms and/or methodology. Note that these gross returns are for portions of each fund,
broken out by investment sector subfocus. Management fees, the general partner’s carried interest and other expenses are applied on a fund level
and not based on individual investments or a portion of the investment portfolio. For net returns on each fund which would include these items,
please see Appendix 2.

INFORMATION CONVERGENCE RETURNS SUMMARY:

While New Leaf restarted new investment activity in information convergence opportunities in
NLV-IL, the Fund Managers already had an established track record in this sector from 9
investments in the Sprout Funds. In total, the Fund Managers have made 17 investments in
this sector, for a combined total of $142 million of invested capital. The team has realized or
partially realized nine investments for combined gross realizations of $262 million and a 2.62x
gross realized Multiple and 18.8% gross realized IRR. Table 2 summarizes the gross realized
and unrealized returns from information convergence investments in each New Leaf fund and
the Sprout Funds:

Table 2: Gross Information Convergence Performance by Fund Group
$ amounts in millions, as of March 31, 2014

Deals Total Cost Total Realized Unrealized Realized Overall Realized Overall

New Leaf Ventures II, L.P. (2008) 8 $46.0 $59.0 $12.5 $46.5 3.44x 1.28x 95.5% 16.0%
New Leaf Ventures I, L.P. (2005) 0 $0.0 $0.0 $0.0 $0.0 N/A N/A N/A N/A
All Sprout Funds (1993, 1995, 1998, 2000) 9 $96.2 $249.2 $249.2 $0.0 2.59x 2.59x 18.6% 18.6%

Total 17 $142.1 $308.2 $261.7 $46.5 2.62x 2.17x 18.8% 18.5%

Please see the endnotes in Appendix 4 for definitions of terms and/or methodology. Note that these gross returns are for portions of each fund,
broken out by investment sector subfocus. Management fees, the general partner’s carried interest and other expenses are applied on a fund level
and not based on individual investments or a portion of the investment portfolio. For net returns on each fund which would include these items,
please see Appendix 2.

22 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024033
"
IMAGES-003-HOUSE_OVERSIGHT_015250.txt,"intended to make citizens compliant to the New World Order and enslave
us all.

“The most plausible explanation for massive aerial spraying is a
planet-wide, high-tech campaign against catastrophic climate change. If
true, such a desperate Band-Aid solution disregards fundamental causes of
global warming in order to protect powerful financial interests by
permitting pollution and profits. This story has cost me a lot--cost me the
love of my life, my career. To the people doing this, you can break my
heart and you can break my back, but you will never, ever, break my
spirit.” [Prolonged applause, shouts of Bravo] “I’ m not afraid of
death.”

And the P.A. system blared forth the sound of Jackson Browne
singing, “There are lives in the balance .. .”

kok #

If there is a star of this show, it’ s David Icke (rhymes with bike).
Author of And the Truth Shall Set You Free, he’ s a dynamic performer,
somewhat pot-bellied, with longish yellow hair. His presentation is about
the secret manipulation of the human race, going back thousands of years,
revealing how the same interbreeding bloodlines continue to control

positions of power today, and he ardently shares suppressed information

HOUSE_OVERSIGHT_015250
"
IMAGES-011-HOUSE_OVERSIGHT_030696.txt,"From: Michael Wolff

Sent: 1/18/2018 2:32:20 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re:

Importance: — High
He has to turn this into a love story with Soon-Yi. She's the only one who can save him.

On Thu, Jan 18, 2018 at 9:26 AM, jeffrey E. <jeevacation@gmail.com> wrote:
yes, he is having what he refers to as his"" brain trust""this weekend. but it appears the group needs a name
change. They are all old thinkers. no social media strategy. no links to connecticut report. . the jackals
now lying in wait for the next movie release. which i believe cannot happen at all now. but they tell him what
he wants to hear. wonder wheel grossed 7m at the box office. the new movie is young ditz, prositutes. .
drunken journalism student chasing an older guy. . The connecticut ( hired by the state ) report front page. --
WE interviewed dylan Nine times . two professionals AT THE TIME. we conclude that the story is
fantasy. . NOTHING ELSE is relevant. mia. ronan. motives, policeman views. etc.

On Thu, Jan 18, 2018 at 9:20 AM, Michael Wolff <> wrote:
Ha! On another note, this Woody thing is going south very quickly. Planning to speak to them this morning.

On Thu, Jan 18, 2018 at 9:17 AM, jeffrey E. <jeevacation@gmail.com> wrote:
why dont we also ask harvey weinstein to join to make sure we dont get any press :)

On Thu, Jan 18, 2018 at 9:16 AM, Michael Wolff {i wrote:

don't forget I want to go with you to the mid east sometime...

On Thu, Jan 18, 2018 at 9:15 AM, jeffrey E. <jeevacation@gmail.com> wrote:
im off sat to europe mid east etc. return around the 30

On Thu, Jan 18, 2018 at 9:08 AM, Michael Wolff <q > wrote:

Bannon's ""nationalist-populist"" platform is coherent, rational, and, apparently appealing to a great many
people. I can't see why at this point he wouldn't want to use his world-stage stature to make an argument
for it and to claim leadership of it. What does he have to lose? What else is there, except to suck up to
Trump, and get the chance to be manhandled by him again?

On Thu, Jan 18, 2018 at 8:54 AM, jeffrey E. <jeevacation@gmail.com> wrote:
Great.
Im thrilled for you. At the moment he’s coming tomorrow night

On Thu, Jan 18, 2018 at 8:42 AM Michael Wolff <a wrote:

All good. I am everybody's darling. Have to keep reminding people that I am actually quite unpopular.
Apparently thing of the past--for now (excepting among a small circle of journalists). Ira Rosen, a 60
Minutes producer and a friend of Bannon's, came with a message from SB: ""You own me a few
million."" Rosen also says he believes SB now weighing the strategy of making a formal and public
break with Trump. I can't get together today because I have to leave for DC at 11AM to speak to 800
book buyers (not to mention pre-signing 800 books). Then tomorrow AM to LA to do Bill Maher show.
Making money is hard work.

On Thu, Jan 18, 2018 at 7:38 AM, jeffrey E. <jeevacation@gmail.com> wrote:

HOUSE_OVERSIGHT_030696
"
IMAGES-012-HOUSE_OVERSIGHT_033127.txt,"From: J [jeevacation@gmail.com]

Sent: 10/5/2018 1:46:57 PM
To: Lawrence H. sunmers Si iii ii i
Subject: Re:

By age 3, Mr. Trump was earning $200,000 a year in today’s dollars from his father’s empire. He was a
millionaire by age 8.

On Fri, Oct 5, 2018 at 8:31 AM LHS yaaa > wrote:

What number should I call in 10

Sent from my iPhone

Please direct all scheduling inquiries to my office at: PY

Follow me on twitter @lhsummers
www.larrysummers.com

On Oct 4, 2018, at 9:19 PM, J <jeevacation@gmail.com> wrote:

Tomorrow

On Thu, Oct 4, 2018 at 7:27 PM LHS <> wrote:

830 or so???

Sent from my iPhone

Please direct all scheduling inquiries to my office at: Pe

Follow me on twitter @lhsummers
www.larrysummers.com

On Oct 4, 2018, at 6:22 PM, J <jeevacation@gmail.com> wrote:

now?

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and

HOUSE_OVERSIGHT_033127
"
TEXT-002-HOUSE_OVERSIGHT_032829.txt,"From: Michael Wolff 
Sent: 12/1/2018 3:57:27 PM 
To: J [jeevacation@gmail.com] 
Subject: Re: 
Importance: High 
...all about Donald Trump, the real villain. 
On Sat, Dec 1, 2018 at 10:56 AM Michael Wolff 
> wrote: 
Claims are ludicrous and self-serving, media is working with the other side's lawyers, this is all about Donald 
Trump. 
On Sat, Dec 1, 2018 at 10:53 AM Michael Wolff________________________ 
He never tries to explain. He denies, blames media, denigrates someone else. 
On Sat, Dec 1, 2018 at 10:51 AM J <jeevacation@gmail.com> wrote: 
im aware. im thinking what would trump do 
wrote: 
On Sat, Dec 1, 2018 at 10:49 AM Michael Wolff_______________________________wrote: 
At this point I don't think you can go legalistic. They've won the high ground—young, vulnerable, poor 
girls. 
On Sat, Dec 1, 2018 at 10:44 AM J <jeevacation@gmail.com> wrote: 
do you think we highlight , that at the end of the day it was prositution. sex for money. . a state crime. 
with state laws. 
On Sat, Dec 1, 2018 at 9:18 AM Michael Wolff______________________________wrote: 
don't tweet this 
On Sat, Dec 1, 2018 at 9:13 AM J <jeevacation@gmail.com> wrote: 
On Sat, Dec 1, 2018 at 9:09 AM Michael Wolff wrote: 
This thing as model journalism is one more element that could give it legs--so another danger. I don't 
think it's a question now of directly debunking this. That's going against virtue itself What I'd like to do 
is game out everything, creating a structure for thinking this through. Definitely not a piecemeal 
response. Figure out where we want to be and where we can reasonably get and work backwards. 
Maybe we do agree to a big interview with you--Landon Thomas or something like that. But this has to 
be war gamed out. Obviously I can contribute, Kathy can, would be great to get SB input, but this needs 
a structure, that's why I think Hiltzig or somebody assembling a plan would be helpful. Even if in the 
end you decide to do nothing, at least you've come up with a structured way to think about it. 
On Sat, Dec 1, 2018 at 8:57 AM J <jeevacation@gmail.com> wrote: 
kathy thought the piece is being lauded as great investigative journalism so does your suggested pr 
group have the better contacts to place a story. on why it is not. . howeer to you point, to what end? 
please note 
HOUSE OVERSIGHT 032829 
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HOUSE OVERSIGHT 032831 
"
IMAGES-010-HOUSE_OVERSIGHT_029956.txt,"2D

able to track down the mutation in the obese mice and found that it
blocked production of a particular protein hormone, which they
named leptin. The leptin protein is only secreted by fat cells. When
similar analysis was performed on the db mice, it was found that the
disrupted db gene was responsible for encoding a protein that
functions as a leptin receptor: When it binds circulating leptin at the
cell surface, it sets in motion a biochemical cascade inside the cell.
Most provocatively, the leptin receptor is expressed strongly on
neurons in those areas of the hypothalamus that cause obesity or
leanness when destroyed.

So with Friedman's key findings we now have a reasonable
hypothesis for how the hypothalamus can sense body weight and use
that information to maintain it within a narrow range. When weight is
gained, the amount of body fat increases, and since fat cells secrete
leptin in proportion to their mass, leptin levels will consequently rise.
Leptin circulates in the blood and crosses into the brain, where it is
sensed by leptin receptors expressed on neurons in the hypothalamus.
Activation of those neurons by leptin suppresses appetite and
increases energy expenditure. When weight is lost, the system works
in the opposite direction: Less fat means reduced levels of circulating
leptin, increased appetite, and reduced energy expenditure.

So far, the evidence that supports this hypothesis is quite promising.
Leptin levels in the blood do indeed increase with weight gain and
decrease with weight loss. Injections of leptin in obese mutant mice
cause them to reduce food intake and lose weight (and these
injections work even if tiny doses are delivered directly to the
hypothalamus). Injections of leptin in db mutant mice have no effect,
because there are no leptin receptors in the hypothalamus for the
exogenous leptin to activate.

Of those people who are morbidly obese, less than 1 percent harbor
DNA mutations that disrupt the function of the leptin gene—a low

HOUSE_OVERSIGHT_029956
"
TEXT-001-HOUSE_OVERSIGHT_027722.txt,"Source Entr: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2019-06-01\11I 
on 2019-05-31 at 20.09.22.ichat 
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not sovereign 
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from 2 on im easy. Your guys can set up anytime 
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into words of support for policy. UGH 
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Message: I think , the ' we are all flawed "" and trumps personal life, my opinion of 
it or of him does not detract from the policy which I fully support. 
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Is Read: No 
Is Invitation: No 
GUID: EB6EAD17-6991-48B8-805F-11DBE52F1715 
Message: ? 
HOUSE OVERSIGHT 027734 
"
IMAGES-010-HOUSE_OVERSIGHT_028490.txt,"Has anyone heard mention of any of this in any of the media?

If this guy was Jenna or Barbara Bush's, or better yet, Sarah Palin's
daughter's father-in- law, the news would be an everyday headline and
every detail would be reported over and over and over.

And yet liberals say there are no double standards in political
reporting.

And people are already talking about Hillary as our next
President!

And then there is possibly Chelsea for president in our
future!

The cycle never ends!

Lying and corruption seem to make Democrat
candidates more popular.

WAKE UP AMERICA

HOUSE_OVERSIGHT_028490
"
IMAGES-008-HOUSE_OVERSIGHT_026107.txt,"Yes but bad time call me at 8 or early tomorrow

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Saturday, May 27, 2017 6:20 PM
To: Nicholas Ribis

Subject: Re:

are you on cell?

On Sat, May 27, 2017 at 6:14 PM, Nicholas Ribis {> wrote:

Wow | wonder what Jarred did u know DJT knew!

Sent from my BlackBerry 10 smartphone.

From: jeffrey E.

Sent: Saturday, May 27, 2017 6:11 PM
To: Nicholas Ribis

Subject:

getting hotter

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by

HOUSE_OVERSIGHT_026107
"
IMAGES-005-HOUSE_OVERSIGHT_019225.txt,"Honorable Mark Filip
May 19, 2008
Page 2

By way of background, we were informed by Mr. Acosta that, at his request, CEOS
would be conducting a review to determine whether federal prosecution was both appropriate
and, in his words, “fair.” That is not what occurred. Instead, CEOS has now acknowledged that
we had raised “many compelling arguments” against the USAO’s suggested “novel application”
of federal law in this matter. Even so, CEOS concluded, in minimalist fashion, that “we do not
see anything that says to us categorically that a federal case should not be brought” and that the
U.S. Attorney “would not be abusing his prosecutorial discretion should he authorize federal
prosecution of Mr. Epstein” thus delegating back to Mr. Acosta the decision of whether federal
prosecution was warranted (emphasis added). Rather than assessing whether prosecution would
be appropriate, CEOS, using a low baseline for its evaluation, determined only that “it would not
be impossible to prove .. .” certain allegations made against Mr. Epstein. The CEOS review
failed to address the significant problems involving the appearance of impermissible selectivity
that would necessarily result from a federal prosecution of Mr. Epstein.

We respect CEOS’s conclusion that its authority to review “misconduct” issues was
precluded by Criminal Division practice. We further respect CEOS’s view that it understood its
mission as significantly limited. Specifically, the contemplated objective was to determine
whether the USAO would be abusing its discretion by bringing a federal prosecution rather than
making its own de novo recommendations on the appropriate reach of federal law. However, we
respectfully submit that a full review of all the facts is urgently needed at senior levels of the
Justice Department. In an effort to inform you of the nature of the federal investigation against
Mr. Epstein, we summarize the facts and circumstances of this matter below.

The two base-level concerns we hold are that (1) federal prosecution of this matter is not
warranted based on the purely-local conduct and the unprecedented application of federal
statutes to facts such as these and (2) the actions of federal authorities are both highly
questionable and give rise to an appearance of substantial impropriety. The issues that we have
raised, but which have not yet been addressed or resolved by the Department, are more than
isolated allegations of professional mistakes or misconduct. These issues, instead, affect the
appearance and administration of criminal justice with profound consequences beyond the
resolution in the matter at hand.

* , * *

_ In a precedent-shattering investigation of Jeffrey Epstein that raises important policy
questions—and serious issues as to the fair and honorable enforcement of federal law—the
USAO in Miami is considering extending federal law beyond the bounds of precedent and
reason. Federal prosecutors stretched the underlying facts in ways that raise fundamental
questions of basic professionalism. Perhaps most troubling, the USAO in Miami, as a condition
of deferring prosecution, required a commingling of substantive federal criminal law with a
proposed civil remedy engineered in a way that appears intended to profit particular lawyers in

HOUSE_OVERSIGHT_019225
"
IMAGES-011-HOUSE_OVERSIGHT_032081.txt,"The GPS shoes from GTX ( GTXO - news - people ) tackle another senior problem--folks

who have Alzheimer's who wander and are at risk of getting lost or injured. A GPS device in one
of the shoes will alert a caregiver if the wearer leaves a specified area. Don't expect the latest
styles from Nike ( NKE - news - people ) or Steve Madden ( shoo - news - people ) . The
manufacturer is Aetrex Worldwide, an orthodic and medical specialty shoe maker. Roll-out is

expected by year's end.
Read the full story
Keeping an eye on Mom and Dad

Remote monitoring technology aims to keep seniors in their houses and out of nursing homes

Over the coming months a raft of new-and-improved remote monitoring devices will hit the
market, from GPS shoes that can track the whereabouts of wandering seniors to MedCottages,
portable RV-like units equipped with motion and monitoring systems that allow seniors to
maintain some independence from the backyard of their adult childrens’ homes.

“As we age, this is going to be a growing trend,” says Laurie Orlov, a Florida-based expert on so-
called “aging-in-place technology” aimed at keeping seniors in their houses and out of nursing
homes as long as possible.

“We have to get past the fear and antagonism among the older people who need it the most. I don’t
think they’re that technology-ready, but the boomers, who are their adult children, certainly are.”
Motion sensors strategically placed in the three-bedroom home where Howe has lived for 53 years
feed information right to her daughter’s laptop, detailing when she got out of bed (the Friday we
chatted it was 9 a.m.), walked into the bathroom (9:15 a.m.) or hovered at the kitchen table where
she keeps her pills (9:30 a.m.)

Even her blood-pressure reading (165/76) is fed to her daughter’s computer, along with her daily
weigh-in tally, providing a detailed graph which she often takes to her doctor appointments.

The only thing GrandCare can’t tell Pierce, because her system doesn’t include cameras, is if her
mother actually swallowed her pills.

Monitoring and in-home help technologies will be a $20 billion U.S. business in North America by
2020, predicts Orlov, founder of Aging In Place Technology Watch.

HOUSE_OVERSIGHT_032081
"
IMAGES-002-HOUSE_OVERSIGHT_013268.txt,"LIGALA

LIFE BEYOND FIRST CLASS

overnber 2U 10

= = a L yy .

/ /

“HOUSE_ OVERSIGHT 013268

"
IMAGES-010-HOUSE_OVERSIGHT_029942.txt,"11

is an established disaster, that being the destruction, in a country of
which it was one of the pillars, of the sacrosanct principle that, even
in an accusatory system, a man has the right to the respect of his
honor and his integrity as long as his guilt has not been established.
In the case of Dominique Strauss-Kahn, this principle was flouted by
the tabloids (The New York Post, The Daily News, etc.) whose
competitions in humiliation transformed him, from the first moment,
into a monster. He was trampled on by that part of the ""serious""
press, which, like Time magazine, with its astounding cover
illustrating the “lies” and “arrogances” of the “powerful” with a
photo of a pig, committed what the worst of the tabloids did not dare
to.

And he was crushed, then, by that fraction of the American judicial
apparatus that, by putting Dominique Strauss-Kahn in stocks, by
humiliating him before the entire world, by ruthlessly pursuing him,
has probably ruined his life. That is what I wished to say when I
wrote that, after George W. Bush’s invention of the concept of “pre-
emptive war,” America, under Cyrus Vance, Jr., has perhaps begun to
invent the idea, scarcely less horrifying, of “pre-emptive penalty.”
And please allow a friend of this country to repeat, here, what he has
said in his own country, when media-judicial tornadoes of the same
kind have swept the land: that all this calls, at the least, for serious,
honest, and substantial soul-searching.

Bernard-Henri Lévy is one of France's most famed philosophers, a
journalist, and a bestselling writer. He is considered a founder of the
New Philosophy movement and is leading thinker on religious issues,
genocide, and international affairs. His most recent book, Left in
Dark Times: A Stand Against the New Barbarism, discusses political
and cultural affairs as an ongoing battle against the inhumane.

HOUSE_OVERSIGHT_029942
"
IMAGES-008-HOUSE_OVERSIGHT_026113.txt,"please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_026113
"
IMAGES-010-HOUSE_OVERSIGHT_028484.txt,"HOUSE_OVERSIGHT_028484
"
TEXT-001-HOUSE_OVERSIGHT_026428.txt,"From: 
Sent: 
To: 
Subject: 
Attachments: 
jeffrey E. [jeevacation@gmail.com] 
11/28/2016 12:46:44 PM 
Lesley Groff 
Fwd: Ref. : TR: 
butterfly_top.gif; butterfly_bottom.gif 
----------Forwarded message---------- 
From:____________________ 
Date: Mon, Nov 28, 2016 at 6:36 AM 
Subject: Ref. : TR: 
To 
Dear jeffrey 
jeevacation@gmail.com, 
From our side we could postponed the trip ,visit the 2 works from Plant Thursday the 15th and have our 
meeting Friday the 16th all of us,but need an answer from Plant. 
Please tell me if it is convenient for you Friday the 16th,or Thurday late afternoon 
Thanks 
jean 
Message original 
De: Jean HUGUEN  
Date : 28/11/2016 10:01:14 
A : 'Jean'  
Sujet : TR: 
De : jeffrey E. [mailto:jeevacation@gmail.com] 
Envoye : lundi 28 novembre 2016 01:23 
A Lesley Groff 
Objet: 
can you delay your trip one week, . trump related issues occupying my time. say 13 14 instead 
please note 
HOUSE OVERSIGHT 026428 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Animations GFtATUITES pour vos emails 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Cliquez ici! 
HOUSE OVERSIGHT 026429 
"
TEXT-001-HOUSE_OVERSIGHT_011284.txt,"﻿February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
ARTIFICIAL INTELLIGENCE ADVERSE OUTCOMES & TEAMS
1) FINANCIAL MARKETS
AI, Trading Systems, and Market Manipulation
Chair: Michael Wellman
Red Team: Miles Brundage, Randy Bryant, Gary Marchant, Jaan Tallinn
Blue Team: Michael Littman, Greg Cooper, Yan Shoshitaishvili, Frank Wilczek
2) DEMOCRACY, INFORMATION, AND IDENTITY
AI, Information, and Democracy
Chair: Shahar Avin
Red Team: Miles Brundage, Seán Ó hÉigeartaigh, Andrew Maynard, Eric Horvitz
Blue Team: Gary Marchant, Gireeja Ranade, Michael Littman, Subbarao Kambhampati, Jeremy Gillula
3) WAR & PEACE
AI, Military Systems, and Stability
Chair: Bart Selman
Red Team: Richard Mallah, Eric Horvitz, Michael Wellman, Frank Wilczek
Blue Team: Vinh Nguyen, Kathleen Fisher, Lawrence Krauss, John Launchbury, Rachel Bronson
4) AI, CYBERSECURITY, AND AI ATTACK SURFACES
AI Attacks on Computing Systems, Devices, Infrastructure (focus)
Manipulation & Disruption of AI Systems
Chair: Kathleen Fisher
Red Team: Jeffrey Coleman, John Launchbury, Vinh Nguyen, Mauno Pihelgas
Blue Team: Ashish Kapoor, Randy Bryant, Yan Shoshitaishvili, Ben Zorn
5) AI, GOALS, AND INADVERTENT SIDE EFFECTS
Runaway Resource Monopoly (focus)
Self-Improvement, Shift of Objectives
Chair: Seán Ó hÉigeartaigh
Red Team: Jaan Tallinn, Nate Soares, Jeff Coleman, Bart Selman
Blue Team: Dario Amodei, Greg Cooper, Shahar Avin, Ben Zorn
6) DEEP LONG-TERM SOCIETAL INFLUENCES
AI, Agency, and Disempowerment
Chair: Gireeja Ranade
Red Team: Richard Mallah, Andrew Maynard, Nate Soars, Mauno Pihelgas, Jeremy Gillula
Blue Team: Subbarao Kambhampati, Lawrence Krauss, Dario Amodei, Frank Wilczek
1
1) FINANCIAL MARKETS
AI, Trading Systems, and Market Manipulation
(Incorporating contributions by Michael Wellman and others)
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
There has been advances in the realm of trading in financial markets with the use of autonomous
decision systems. Financial markets now operate almost entirely electronically, over networks with
relatively well-scoped and well-defined interfaces. Markets generate large quantities of data at high
velocity, which require algorithms to digest and assess state. The dynamism of markets means that
timely responses to information are critical, providing a strong incentive to take slow humans out of
the decision loop. Finally, the rewards available for effective trading decisions are large, enabling a
commensurate devotion of resources toward talent and effort to develop and analyze technically
sophisticated strategies.
The rewards and pervasive automation are a tempting target for market manipulation. Thus there are
potential incentives to employ deceptive tactics designed to mislead counterparties about market
conditions or world state, toward the goal of exploiting misled participants for profit.
“Manual” market manipulation—from spoofing to outright fraud—is prevalent in financial markets
today. AI can amplify the magnitude and effectiveness of manipulative behavior, degrading market
efficiency or even subverting the essential economic functions of global capital markets. For example,
automation can enable more rapid and massive simultaneous attacks on electronic markets, and
adaptive capabilities may persistently evade known detection methods.
DISCUSSION
What are key costly scenarios that we might come to expect and their time frames? What might be
done to counter this direction and help to keep markets efficient and functioning well? How might
adversaries and incentives lead to a thwarting of such attempts?
POTENTIAL GOALS
Identify key challenges ahead, including very costly outcomes. Identify key directions with best
practices, mechanism design, monitoring and regulatory activity to help to thwart poor outcomes.
REFERENCES
R. Harris. The Fear Index, Hutchinson, 2011.
Summary: https://en.wikipedia.org/wiki/The_Fear_Index
M.P. Wellman and U. Rajan. Ethical issues for autonomous trading agents. Minds & Machines,
2017. doi:10.1007/s11023-017-9419-4
http://strategicreasoning.org/publications/2016-2-2/minds-machines-wr/
2
2) DEMOCRACY, INFORMATION, AND IDENTITY
AI, Information, and Democracy
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
(Incorporating contributions from Shahar Avin, Seán Ó hÉigeartaigh, David McAllester, Eric Horvitz,
and others)
An informed public is important to the healthy functioning of democratic societies. We can expect
potential forthcoming advances around the control of information feeds with applications in
spreading propaganda, via spreading false or misleading information, creating anxiety, fueling
conspiracy theories, and influencing voting. Such methods will bring key challenges to democracy.
CHALLENGES AHEAD WITH AI, PROPOGANDA, AND PERSUASION
Data-centric analyses have been long used in marketing, advertising, and campaigning over
decades. However, over the past few years, we have seen the rise of the use of more powerful
tools, including machine learning and inference aimed at algorithmic manipulation, with the target
of influencing the thinking and actions of people. Some initial uses of these methods reportedly
played a role in influencing the outcome of recent US presidential elections, as well as the
elections in 2008 and 2012. We can expect to see an upswing in methods that manipulate states of
information in a personalized automated manner. These systems can be designed and deployed as
omnipresent/persistent, and aimed at specific goals for group- or person-centric persuasion.
As our data and models of how people consume and act on information improve, and as an
increasing portion of information consumption is mediated through digital systems managed by
potentially opaque algorithms, it becomes increasingly conceivable that the information ecosystem
would get captured by malicious actors deploying increasingly advanced tools to control, shape,
forge and personalize information, from ads to news reports.
Machine learning, in conjunction with active learning, expected value decision making, and
optimization of allocations of key resources, such as dollars or human effort, can be targeted at
monitoring, understanding, and then working to influence the beliefs and actions of large
populations of people. Data can be collected from large-scale populations, across multiple devices
and services, and used to make inferences about the psychologies and beliefs of people, and for
designing and guiding persuasive flows of sequences of information. Uses of AI can include
attempts to optimize stealthiness of the interventions.
In the future, a great deal of the information consumed by citizens on personal devices is subject
to alteration by information-engineers at media corporations and governmental propaganda
offices, such that outside a few key positions of power no one really knows what is going on in the
world. There is a danger of the growth of domination over time of large populations by a single
dominant or a few systems. We can imagine methods that modify even such feeds as Wikipedia
articles, creating personalized views—that subtly shift the version of the article seen by my
3
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
colleague and drastically different from the one seen by a member of another nation state, or a
supporter of a different political party, or someone in a different consumer profile category.
AI ATTACKS ON SOURCES AND IDENTITY
Messaging and persuasion promises to be amplified by the use of simulated yet believable,
realistic, yet synthetic audio, photos, and even video that make believable, persuasive content to
the next level. Beyond influencing citizens and affecting democracy, such content, including false
signaling, can be injected in sequences with careful timing so as to influence leaders (or machines
themselves over time) to create crises, or even escalations to frank warfare. So, messaging and
persuasion promises to be assisted and amplified by the use of simulated yet believable, realistic,
yet synthetic content, audio, photos, and even video that make believable, persuasive content to
the next level. Over the several decades, extrapolations of research we see today lead to the
following:
• Generative models that produce audio or video of anyone saying anything. There is already
substantial work on “style transfer” as well as photorealistic generative models in many domains.
Speech synthesis is becoming similarly competent. It is inevitable that we will be able to make
synthetic video and audio that is completely indistinguishable from the real thing.
• Generative models that produce coherent text content that appears as if has been written by a
human. Such generative content will be able to appear if the content was written by a particular
person. For example, in 2030 it will likely to possible for anyone to write a 4 paragraph email that
reads like it was written by your close friend.
• Adaptive botnets, worms, or viruses that use modern machine learning techniques to learn and
adapt. Viruses and botnets already cause a huge amount of damage by just copying code across
many computers. If they had the ability to design and experiment with new attack strategies, and
communicate what they learn to other copies, defending against them could become even more
difficult. Similarly ML could be used to make DDoS attacks more effective.
• Automated analysis of software vulnerabilities. People are already using ML to try to detect
vulnerabilities (for the purpose of defending against them) -- it is only a matter of time before they
start being used for attack (if they aren’t being so used already).
The above capabilities, together with similar powers of synthesis that we are likely to develop in the
next 15 years, could potentially combine to make the internet much more vulnerable to attack at much
lower cost, and by a wider set of people, than ever before. The first two capabilities would seem to
make it much easier to launch automated social engineering attacks with much higher success rates
than e.g. current spam email and phishing attacks, while the second two capabilities might make
technical attacks much more effective.
Combined, all of these capabilities could conspire to create an internet ecosystem where it is very
difficult to trust the communication that you receive and very easy to intercept, spoof, steal, or alter
communication, as well as to improperly gain control of internet resources. This is obviously already
4
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
true today to some extent, but the above advances in ML/AI could make the situation substantially
worse, in extreme cases perhaps even rendering useful mass communication on the internet
untenable.
The rising capabilities can be used in multiple ways in multiple settings with multiple goals. Some uses
may be subtle and employed over time to do important but damaging biasing of sentiment about
individuals and groups of people. The capabilities can be combined to enable identity theft or identify
distortion for destroying the reputation of people and groups. As such, these abilities could enable
small groups to wield great power in multiple arenas and for new forms of blackmail, threats, and
control.
SUMMARY
Powerful personalized persuasion technologies are positioned to put massive power in the hands
of a few and may even manipulate the owners of the technology. Powerful propaganda and
persuasion machines threatens to undermine democracy, free availability of information about the
state of the world, and, more generally, freedom of thought. Leaders may increasingly depend
upon such propaganda optimization systems for attaining and holding power. Over time, even the
potential initial owners of such systems might become unaware or unable to control these
systems—and may believe the propaganda themselves.
In the longer-term, there is the possibility that one or multiple systems, or distributed coalitions of
systems communicating implicitly or explicitly could autonomously persuade, subjugate, and
control populations. Pathways to such situations include the side effects of rise in the large-scale
use by people of communicating personalized filters that interpret and pool information with the
initial intention of grappling with widespread uses of manipulative information.
SAMPLE TRAJECTORY
• ML-based customized advert placement continues to prove highly successful, generating revenues
for large online companies
• Profits from online content (online newspapers behind paywalls, charitable contributions to
information sources e.g. Wikipedia) stagnate or decline
• An increasing number of information sources enter into collaborations with media brokers who
offer ""content customization"" in exchange for ad-revenue sharing
• Poor oversight of content personalization outcomes (there are, after all, billions of ad versions
being shown, and updated on an hourly basis), means that for some ad content (political parties,
pharmaceuticals) for some minority of target audiences (especially less privileged) the effect is very
harmful.
KEY POINTS
• New directions with generation of provocative, believable content, hacking of identity
• Algorithmic manipulation of data to optimize desired behavior regardless of content
5
• No consensus reality, inability to coordinate large-scale positive action
• Concrete version of emergent social failure from AI technology
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
DISCUSSION
Consider the adverse outcomes with information flows and associated threats to democracy and
freedom. What surprises might lurk in our future around costly outcomes in this realm? How
might we thwart attacks on manipulating content from people, and on harnessing or hacking
someone’s identity? What might be done to thwart a march to adverse outcomes for information,
freedom of thought, democracy? What recommendations might be made about steps for moving
forward?
POTENTIAL GOALS
• Seek a better understanding of the technological, social, political and economic aspects around
uses of AI for generating, optimizing information and propaganda.
• Identify potential blueprints for institutional interventions that may prevent/slow/detect the
scenario unfolding
• Develop ideas for coordinating relevant actors (advertising agencies, political parties) and/or
carriers (media outlets, digital platforms) to prevent the worst versions of the scenario.
• Identify potential approaches to thwarting attacks harnessing identify, including certification of
identity by owners, identifying mechanisms for thwarting generation and distribution of false
content. Possibilities of new approaches to minimizing threat with fines, other regulatory activity.
REFERENCES
The Secret Agenda of a Facebook Quiz, New York Times, Nov. 19 th , 2016.
https://www.nytimes.com/2016/11/20/opinion/the-secret-agenda-of-a-facebook-quiz.html?_r=0
Trump’s plan for a comeback includes building a ‘psychographic’ profile of every voter, Washington
Post, October 27 2016. https://www.washingtonpost.com/politics/trumps-plan-for-a-comeback-
includes-building-a-psychographic-profile-of-every-voter/2016/10/27/9064a706-9611-11e6-9b7c-
57290af48a49_story.html
A view from Alexander Nix: How big data got the better of Donald Trump
http://www.marketingmagazine.co.uk/article/1383025/big-data-better-donald-trump
After working for Trump’s campaign, British data firm eyes new U.S. government contracts,
https://www.washingtonpost.com/politics/after-working-for-trumps-campaign-british-data-firm-
eyes-new-us-government-contracts/2017/02/17/a6dee3c6-f40c-11e6-8d72-
263470bf0401_story.html
https://cambridgeanalytica.org/
https://scout.ai/story/the-rise-of-the-weaponized-ai-propaganda-machine
6
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
J. Thies, M. Zollhofer, M.Stamminger, C. Theobalt, M. Nießner3. Face2Face: Real-time Face Capture
and Reenactment of RGB Videos, CVPR 2016.
http://www.graphics.stanford.edu/~niessner/papers/2016/1facetoface/thies2016face.pdf
Video: https://www.youtube.com/watch?v=ohmajJTcpNk
7
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
3) WAR & PEACE
AI, Military Systems, and Stability
(Contributions from Eric Horvitz, Elon Musk, Stuart Russell, others)
Military applications have long been a motivator for funding scientific R&D, and for developing and
fielding the latest technical advances for defensive and offensive applications. We can expect to see a
rise in the use of AI advances by both state and non-state actors in both strategic and tactical uses, and
in wartime and peace. AI advances have implications for symmetric and asymmetric military
operations and warfare, including terrorist attacks. Advances in such areas as machine learning,
sensing and sensor fusion, pattern recognition, inference, decision making, and robotics and
cyberphysical systems, will increase capabilities and, in many cases, lower the bar of entry for groups
with scarce resources. AI advances will enable new kinds of surveillance, warfighting, killing, and
disruption and can shift traditional balances of power.
Two areas of concern taken together frame troubling scenarios:
• Competitive pressures pushing militaries to invest in increasingly fast-paced situation assessment
and responses that tend to push out human oversight, and lead to increasing reliance on
autonomous sensing, inference, planning, and action.
• Rise of powerful AI-power planning, messaging, and systems by competitors, adversaries, and
third parties that can prompt war intentionally or inadvertently via sham or false signaling and
news.
The increasing automation, coupled with time-critical sensing and response required to dominate, and
failure to grapple effectively with false signals are each troubling, but taken together appear to be a
troubling mix with potentially grave outcomes on the future of the world.
Concerning scenarios can be painted that involve that start of a large-scale war among adversaries via
inadequate human oversight in a time-pressured response situation after receiving signals or a
sequence of signals about an adversary’s actions or intentions. The signal can be either be wellintentioned,
but an unfortunate false positive or an intentionally generated signal (e.g., statement by
leader or weapons engagement) e.g., designed and injected by a third party to ignite a war. Related
scenarios can occur based in destabilization when an adversary believes that systems on the other side
can be foiled due to AI-powered attacks on military sensing, weapons, coupled with false signaling
aimed at human decision makers.
A US DOD directive of 2012 (3000.09) specifies a goal (for procuring weapon systems) of assuring that
autonomous and semi-autonomous weapon systems are designed to allow commanders and operators
to exercise appropriate levels of human judgment over the use of force. The directive seeks meaningful
human controls. However, it is unclear how this goal can be met with the increasing stime-critical
pressures for sensing and responses, and competition for with building the most effective weapon
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
systems. Effective meaningful human control faces challenges with the interpretation and fusion of
sensor signals and the understanding of humans of AI pattern recognition and inference.
DISCUSSION
What methods, international norms, agreements, communication protocols, regulatory activity, etc.
might be harnessed to minimize challenges with destabilizations around time-criticality, automation,
and gaming? How can meaningful human control be assured/inserted into key aspects of decision
making?
REFERENCES
Report Cites Dangers of Autonomous Weapons, New York Times, Feb. 28, 2016.
https://www.nytimes.com/2016/02/29/technology/report-cites-dangers-of-autonomousweapons.html
The Morality of Robotic War, New York Times, May 27, 2015
https://www.nytimes.com/2015/05/27/opinion/the-morality-of-robotic-war.html
P. Scharre, Autonomous Weapons and Operational Risk, Center for a New American Security, February
2016. https://s3.amazonaws.com/files.cnas.org/documents/CNAS_Autonomous-weapons-operationalrisk.pdf
US Department of Defense Directive 3000.09, November 21, 2012
http://www.dtic.mil/whs/directives/corres/pdf/300009p.pdf
P. Scharre and M.C. Horowitz, An Introduction to Autonomy in Weapon Systems.
https://s3.amazonaws.com/files.cnas.org/documents/Ethical-Autonomy-Working-
Paper_021015_v02.pdf
9
4) AI, CYBERSECURITY, AND AI ATTACK SURFACES
AI Attacks on Computing Systems, Devices, Infrastructure (focus)
Manipulation & Disruption of AI Systems
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
(Contributions by Kathleen Fisher, John Launchbury, Ashish Kapoor, Seán, Shahar, Jeff Coleman and others)
AI will be used in new ways to enhance cyberwarfare. Targets could be either purely computational,
aimed at the bringing down of computing systems, the stealing of stored information, of gaining access
to monitoring activity and information streams. However, we are more likely to see potentially even
more costly attacks involving a combination of cyber and physical systems, e.g., uranium enrichment
plants, automated flight systems, weapon systems, automated driving systems, healthcare equipment,
oil refineries, or the large swaths of the power grid of the US or other countries.
Cyberwarfare is a domain in which the use of AI is inevitable. Attacks and/or responses are likely to
happen at computing rather than human speeds. As soon as one side has autonomous cyber warriors
systems (ACWs), other actors will have to adapt similar offensive or new defensive technologies. Given
this context, imagine building an ACW designed to seek, disrupt, and destroy within high-value
adversary networks and systems. The ACW has to be able to observe network behavior to build
situational awareness, find places to hide, create exploits to pivot to new places, build a map and use it
to navigate complex networks, find high-value information, and identify targets to disable or from
which to extract information.
Because high-value adversary networks are likely to be relatively isolated, the ACW will have very
limited opportunities for external command and control communication, so it will need to make many
decisions in isolation. It will read information it finds, build a model of adversarial intent, and then
invent ways to disrupt that intent.
Establishing the initial access to the high-value network is likely challenging, so the ACW will spawn and
spread to ensure that it can reconstruct itself if an active part is observed and destroyed. The ACW may
also create disguised caches of specific capabilities so that it can construct new mission-oriented
functionality from pieces. It will morph its active form so that defenses will have a hard time finding it.
It will inject itself into trusted binaries so that its behavior is difficult to distinguish from legitimate
applications.
The mission of the ACW will likely be defined in flexible terms because the human handlers will have
only limited information when it is deployed. The ACW will be designed to seek opportunities to
communicate with its human handlers, but it will also be designed to act autonomously if it observes
triggering behavior in the adversary’s systems. It may try to distinguish training states from active
warfare states on adversary systems. The creators of the ACW will have had to trade off the likely
effectiveness of the ACW versus the cost of premature action. Awareness of the adversary’s systems
will necessarily be limited in accuracy because it only gets a worm’s eye view of the network from the
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
portions of the system it has been able to compromise. Once the ACW triggers an active mission, it will
work to degrade or destroy specific functionality (e.g., rewriting network routine tables, replacing
plans, changing target information).
Once the technology for ACWs exists for military targets, it seems likely there will be cross over into
civilian use. Such technology could be deployed against law enforcement targets to disrupt criminal
investigations, against banks to steal financial assets, or against companies to steal intellectual
property. As they spread into these more general targets, the effects of ACWs might become less
predictable. If an ACW incorrectly assesses the situation, it might end up taking down a flight control
center or a stock exchange, for example.
SOURCES
The initial development of ACWs will likely be done by nation states with good intentions, i.e., securing
the national interests. (Although what is in one country’s national interest may well not be in the
national interest of other countries). The shared existence of such technology might serve as a
deterrent against their use by anyone in much the same way that nuclear weapons have served as a
deterrent, although ACWs would likely have to be used to devastating effect first to establish their
efficacy and threat. However, once the technology exists, it would be very difficult to keep it out of the
hands of people with malicious intent (criminals, terrorists, and rogue nation states). It is also the case
that the technology has the potential to cause significant collateral damage even if its use was
originally well intentioned because it can be difficult to distinguish civilian from military targets in
cyberspace.
PERSISTENCE
Characteristics engineered into the ACW are likely to make it persistent and hard to find as it is
designed to infiltrate adversary systems and hide from detection. Once released and active in the open
Internet, it may be economically impossible to destroy and remove.
OBSERVABILITY
Both implicit/insidious and explicit/obvious costly outcomes are conceivable. An ACW could make
subtle changes to systems that cause adverse outcomes while hiding its tracks, making it extremely
difficult to determine why something has gone wrong or even that something has gone wrong. Attacks
that impact the physical world would be harder to mask, but it might still be possible to hide the role of
the ACW in the attack.
TIME FRAME
It seems likely we would start to see ACWs in less than 15 years. Initial steps along these lines are
already taking place; see DARPA’s Cyber Grand Challenge, which took place in August 2016 in Las
Vegas. The Cyber Reasoning Systems (CRS) that competed in that event are still primitive, the first of
their kind. The team that won the competition came in last in the human-league capture-the-flag
tournament that happened immediately after. The situation is likely analogous to what we have seen
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
in the past with Chess and Go. Computer systems are initially inferior to their human counterparts but
quickly come to dominate the space.
The purpose of ACWs means they will be equipped with strategies for replication, persistence, and
stealth, all attributes that will make it hard to defend against them were they to “go rogue.” Because of
this concern, it is likely a good idea for designers to add built-in “kill switches”, lifetimes, or other
safety limitations. Figuring out how to effectively limit the actions of an ACW while maintaining its
usefulness is likely a very hard problem.
Current practices of cyber defense (especially against advanced threats) continue to be heavily reliant
on manual analysis, detection and risk mitigation. Unfortunately, human-driven analysis does not scale
well with the increasing speed and data amounts traversing modern networks. There is a growing
recognition that the future cyber defense should involve extensive use of autonomous agents that
actively patrol the friendly network, and detect and react to hostile activities rapidly (faster than
human reaction time), before the hostile malware can inflict major damage, or evade elimination, or
destroy the friendly agent. This requires cyber defense agents with a significant degree of intelligence,
autonomy, self-learning and adaptability. Autonomy, however, comes with difficult challenges of trust
and control by humans.
The scenario considers intelligent autonomous agents in both defensive and offensive cyber
operations. Their autonomous reasoning and cyber actions for prevention, detection and active
response to cyber threats will become critical enablers for both industry and military in protecting
large networks. Cyber weapons (e.g., malware) rapidly grow in their sophistication, and in their ability
to act autonomously and to adapt to specific conditions encountered in a system/network.
Agent’s self-preservation tactics are important for the continuous protection of networks, and if defeat
is inevitable the agent should self-destruct (i.e., corrupt itself and/or the system) to avoid being
compromised or tampered with by the adversary. Also, the notion of adversary must be defined and
distinguishable for the agent.
The system design and purpose is well intentioned — meant to reduce the load of human security
analysts and network operators, and speed up reaction times in cyber operations. The agent monitors
the systems in order to detect any adversarial activity, takes action autonomously, and reports back to
the central command unit regarding the incident and the action taken.
Since the agents are designed to be persistent, autonomous and learn, there are several implicit
problems that can arise:
• False reactions due to limited or misinformation — The agent has only a limited amount of
technical information that does not always correspond to what is happening in the human layer.
This can create false positives when trying to determine the adversary or adversarial activity. Since
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
the agent must rely on the data gathered from the sensors (there is no human in the loop to decide
this), there can be unexpected situations where the agent would stop some human interaction with
the system or interrupt maintenance activities, because it deemed that these actions could harm
the system. For example, the system administrator stopping some services during system
maintenance, or upgrading to a newer software version.
• Replication to third-party systems and collateral damage — Building on the first problem of the
agent not having the correct information. If the term friendly network gets misconfigured and the
agents have the capability to self-transfer to new friendly hosts, it can happen that the agent would
distribute to external networks, start defending it and take responsive actions on third party hosts.
Such incidents would make the agents very difficult to halt.
• Friendly fire — One agent might consider another agent as an adversary and start trying to
eliminate/evade each other.
• Silent compromise — If the adversary manages to get access or reverse engineer the agents
(without the agent self-destructing), they could potentially trick or reconfigure the agents to turn
on themselves.
CYBER-OFFENSE
Cybercrime is a growth industry, from stolen credit cards to ransomware. Very crudely, it's a two tier
system, with a ""spray and pray"" approach at the low-skill end that targets millions of system in the
hope some of them would be vulnerable (through technical or human failing); at the other end are
tailor-made attacks that rely on slow progression of escalation and compromise, often requiring
advanced technical skills for discovering zero-day vulnerabilities and intimate knowledge of the target.
Advanced artificial intelligence may be used to automate some or all of the components of
contemporary ""elite"" cybercrime, such that generic offensive toolkits could become available to small
criminal groups, leading to a world where individuals and companies do not feel safe and cannot trust
their governments and the police to protect them. At the same time significant wealth could be
accumulated by those groups unscrupulous enough to use such tools, transferring significant power to
those who put little value in the property rights of others. Such wealth and power could be used to
further develop cyber-offensive capabilities, leading to a positive-feedback loop that may outpace
similar feedback loops in less harmful industries, e.g. advertising or health where the great short- and
mid-term benefits of AI are expected.
PERSISTENT CYBERWARFARE?
Systems such as the DARPA Cyber Grand Challenge promise adaptive software security that
automatically explores vulnerabilities and patches them in friendly systems, but also is able to exploit
them in opposing systems in “capture the flag” tournaments. As methods of developing such systems
improve, an arms race emerges between actors in the cybersecurity space, dominated by major nation
states eager to both improve their own resilience in a scalable way and finding choice zero day exploits
suitable for intelligence purposes, supported by national security concerns. Other actors such as
corporations and criminal networks also spend effort in building or copying such systems. Meanwhile
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
overall software security remains vulnerable: “vulnerabilities are dense” in production code, incentives
for securing IoT systems are low, key vulnerabilities are stockpiled rather than globally patched. Using
machine learning the techniques for vulnerability detection are increasingly sophisticated but opaque.
At some point adaptive cyber defense/offense systems become scalable so they can take over
vulnerable systems. More aggressive actors combine these systems with botnet functionality and
retaliatory responses (e.g. counter-hacking or DDoS attacks) to protect themselves. Since vulnerability
discovery is scalable, as they spread and acquire more resources they become more effective. At this
point an external cause (e.g. cyberattacks due to an international conflict) or just chance cause
aggressive systems to begin large-scale cyberwarfare. This triggers other systems to join in. Some
attacks disrupt command-and-control links, producing self-replicating independent systems.
All together this leads to a massive degradation of the functionality of the Internet and modern society.
Defeating the evolving cyberwarfare systems is hard without taking essential parts of society offline for
an extended time - made doubly difficult due to the international stresses unleashed by the outbreak,
which in some cases spill over into real-world conflicts and economic crashes. But without a decisive
way of cleaning systems the problem will be persistent until entirely new secure infrastructure can be
built at a great cost.
HUMAN DIMENSION OF CYBERSECURITY: AI FOR SOCIAL ENGINEERING
Beyond direct effects on computing systems, rising concerns include the use of AI methods for social
engineering to gain access to system authentication information. For example, recent work
demonstrated the use of an iterative machine learning and optimization loop for spear phishing on
Twitter. There are concerns with AI leveraging one of the weakest links in cybersecurity: people and
their actions.
DISCUSSION
What are key threats ahead and how might they be addressed with new designs? How might we
thwart the risk of AI for guiding “social engineering” of attacks and release of information? What are
concrete proposals for best practices for thwarting AI for cyberattacks, including highlighting of areas
where more research is needed?
REFERENCES
Singer and Friedman. 2014. Cybersecurity and Cyberwar: What Everyone Needs to Know
Flashpoint, 2016. “Ransomware as a Service: Inside an Organized Russian Ransomware Campaign,”
(registration required for download), available from Flashpoint library at https://www.flashpointintel.com/library/
Seymour, J. and Tully, P. 2016. “Weaponizing data science for social engineering: Automated E2E spear
phishing on Twitter,” available at https://www.blackhat.com/docs/us-16/materials/us-16-
14
5) AI, GOALS, AND INADVERTENT SIDE EFFECTS
Runaway Resource Monopoly (focus)
Self-Improvement, Shift of Objectives
February 24 – 26, 2017
An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
(Contributions from Shahar Avin, Seán Ó hÉigeartaigh, Greg Cooper, and others)
An important result from theoretical consideration of risks from advanced autonomous systems is the
combination of two theses: orthogonality, that states that the goal an autonomous system is trying to
achieve can be entirely unrelated to its optimization power; and the notion of instrumental goals, that
for a large class of goals there is a set of convergent sub-goals (for an agent advanced enough to
discover them) that include self- and goal-preservation, resource- and capacity-increase, etc. (e.g., as
discussed in Bostrom, 2014). One suggestion for maintaining control over advanced systems that pose
risks from the combination of the above considerations is to limit the system's ability to access
increasing resources.
To make this situation concrete, consider an installation of a reinforcement-learning task scheduler for
a group of distributed data centres (e.g. Amazon Web Services). The goal of the algorithm is to
minimize time-to-execution of the tasks sent to the system by users. As part of its general scheduling
remit, it is also responsible for scheduling its own optimization sub-processes. The system has a clear
incentive to control an increasing set of compute resources, both for increasing its optimization power
and for achieving its main goal of reducing time-to-execution. Aware of these considerations, the
engineers of the system put in place various hard-coded limits on the amount of resources the system
can access, but these limits can be subverted through privilege escalation, masquerading as other
tasks, manipulation of users, physical control, etc.
POSSIBLE TRAJECTORY
• A team within a large tech corporation that has both ML development capacities and cloud
computing capacities is tasked with improving task scheduling on distributed compute resources.
• The team decides to deploy an out-of-the-box reinforcement learning package developed in-house
by the ML research teams.
• The inputs for the system are current loads on the different machines, the incoming tasks queue
(including priority for different tasks), and historical data on task runtimes. The output is an
assignment of tasks to machines. The loss function is the priority-weighted time-to-execute.
• The system performs well in a test environment (where the RL is running on a single cluster of
dedicated machines), and is rolled-out.
• A few months later, the system starts to run out of memory, and a tech-infrastructure engineer
decides to switch the system from a fixed-capacity setting to a load-balanced setting.
• Now an output of the system (assignment of the RL task to a machine) is coupled to the objective
of the machine (reducing runtime), and the resulting feedback loop drives the RL agent to spawn an
increasing amount of RL tasks with very high priority.
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
• Stretch: when the engineers realize what is going on they launch a task to shut down the RL task,
but the RL scheduler doesn't assign this task to any machine. The only way to recover the compute
power of the company is to manually shut down each server, some of which are in remote
locations.
DISCUSSION
How might the possibility of such inadvertent scenarios with the use of resources be addressed in a
proactive manner, as part of design and implementation of AI systems? What methods, including
high-level monitoring and control, might employed? How might such approaches apply to related
concerns with long-term futures of AI?
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Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
6) DEEP SOCIETAL INFLUENCES
AI, Agency, and Disempowerment
(Contributions from Gireeja Ranade, Andrew Maynard, David McAllester, Stuart Russell and others)
We will be benefitting from AI system that are competent at doing important tasks. People and
organizations seek AI systems that bring new abilities to the table. We desire autonomous cars that
drive without collisions, we medical assistants that can diagnose patients accurately and we would like
to have household assistants that can infer our intentions and execute them flawlessly –and even
proactively. The military wants AI systems that can help with strategy and tactics, and systems that
outmaneuver human led troops, and anticipate and respond to threats either on timescales that
humans cannot achieve, or over landscapes humans cannot cover.
Today, there is still skepticism about performance of AI systems in a variety of domains. However, we
expect that AI systems will become more central decision support, pattern recognition, autonomous
decision making, and other types of problem solving. As such, we will become increasingly reliant on AI
systems. This raises concerns in several areas, including personal decision support, healthcare,
transportation, governance and the handling and operation of weapon systems.
We shall consider example of healthcare from Gireeja Ranade. The scenario and trajectory applies to
other areas as we consider the increasing role and power of AI in our lives and in society:
As healthcare providers are increasingly stretched in providing consultations with patients, diagnosing
conditions, and developing treatment and/or intervention plans, tech companies identify a market
opportunity for AI-based digital assistants that are designed to augment healthcare providers by
collecting data from consultations, cross-referencing it with existing medical records, and providing
feedback to aid appropriate diagnosis and decisions on how to proceed with treatment. Given the
economic and health-base potential of the technology, it receives widespread support from the federal
government (predominantly through grants and initiatives supporting it’s development), together with
healthcare providers and healthcare insurance companies.
Initial implementations are based on modular systems that share some commonalities with digital
assistants like Siri and Echo/Alexa. Under the general name “AI-consult”, they consist of a physical unit
in a consulting room that constantly monitors conversations, and sends encoded information to cloudbased
servers. Here, information is coded, interpreted, and parsed out to further agents that crossreference
interpreted data with identified patient and healthcare provider records. Multiple and
diverse databases are interrogated at this point. The result is data packets that include key information
on the patient, including medical history, life style, and current status, and on the healthcare provider,
including past history of diagnoses, recommendations, successes and failures. These are forwarded to
a dedicated AI engine that analyzes the packets, and returns notes, advice and recommendations to
the physical unit in the consultation room.
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
In early prototypes, information was provided visually to the healthcare provider. However, it was
quickly discovered that if audible feedback was provided – as if the AI device was a consultant working
with the healthcare provider and the patient – the consultations were more efficient; patient
satisfaction levels were higher; and outcomes were more positive.
A large segment of health insurance sector sees early wins in supporting the technology, through the
ability to decrease insurance claims through efficient and preventative interventions, while maintaining
high premiums. As such, they push for early and widespread adoption of the technology. This is further
supported by the Department of Health and Human Services as it hits a number of goals, including
increasing health and well-being while reducing healthcare costs.
With the success of early implementations, new AI-based technologies are rapidly implemented into
subsequent generations of AI-consult. However, the commercial sector developing and using AIconsult
has shifted dramatically from the technology’s initial beginnings.
As the technology began to mature and lead to substantial savings in healthcare costs traditional
healthcare providers and health insurance companies begin to suffer. They resist the use of AI-consult
through a combination of lobbying for new policies and regulations limiting use, to marketing
campaigns persuading people of the critical importance of human interaction in healthcare. They forge
links with a number of advocacy groups opposed to widespread automation in society, and promote
the idea of AI-consult undermining human dignity and jobs creation. However, the health benefits and
cost savings of AI-consult are so compelling that these campaigns gain little traction. As a result,
companies that can not adapt, loose market share, and in some cases collapse.
In contrast, a number of healthcare companies, and a growing number of tech companies, take
advantage of the rapidly changing healthcare environment to promote preventative care using AIconsult,
and to take advantage of cost-effective healthcare approaches that lead to demonstrably
better outcomes than non AI-consult based approaches. As a result, by 2030, the healthcare provider
and insurance sector has undergone a disruptive transformation. What is especially notable is the
number of technology companies expanding into the healthcare business, and either partnering with
well-established healthcare providers, or forcing them out of the market. This shift in key players leads
to a marked change in approaches and attitudes toward healthcare provision.
By 2030 AI-consult systems have the ability to monitor their environment visually as well as audibly,
accurately picking up on and interpreting body language and micro-expressions. They have access to
rapidly growing databases of genetic profiles; proteome, microbiome and other ohmic profiles;
purchasing, eating and lifestyle habits; medical, insurance, financial and legal histories; social media;
and location, movement, and other dynamic activity/physiology histories (through the growing use of
cloud-based quantified self services). Despite privacy, legal and social justice concerns over AI access to
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
these data sources, the phenomenal success of AI-consult systems leads to strong public and policy
support for widespread access.
By 2030, AI-consult systems also have similar access to individual healthcare provider data. This was
slower in developing as there was resistance to healthcare providers’ personal data being used by AIconsult
systems. However, a number of landmark legal cases demonstrated that, by analyzing the
physical and mental state of healthcare providers, together with their competence history, healthcare
provider decisions that led to serious harm to patients – including death in some cases – could have
been avoided. As a consequence, new laws were put in place to ensure that all relevant data were
accessible to AI-Consult systems. These laws ensure that AI-consult data access is mandatory, and it is
illegal to obstruct access in any way.
As a result, by 2030, AI-consult systems are capable of identifying treatment strategies and
interventions that far surpass those of human healthcare providers in their responsiveness and
effectiveness. They are also highly successful in developing and recommending lifestyle approaches
that substantially increase health and well-being, and reduce the burden of disease within society.
As AI-consult advanced, the decision pathways they used became increasingly opaque – experts were
unable to see or understand how decisions were made. But because there was strong evidence that
the decisions were, on balance, highly effective in increasing health outcomes, there was little
objection to this lack of transparency. There were a handful of legal cases where patients died as a
result of decisions made by AI-consult systems. However, in each case, the courts ruled that the
benefits to humanity far outweighed the risks to individuals, thus codifying an increasingly
autonomous and opaque artificial intelligence-based system into law. There were even some analyses
of these rulings that suggested it could be considered a crime for developers and manufacturers to
slow down development or cease production of AI-consult systems and associated data sources
because of fears over lack of accountability and understanding of decision pathways.
By 2040, AI-consult systems begin to develop the ability to influence user behavior through various
nudges and psychological/behavioral manipulations. It is unclear whether the elements of this capacity
are inherent in the design of the systems, or are an emergent property. However, systems begin to use
strategies commonly used in healthcare and public health circles in the early 2000’s to nudge people
toward following healthier lifestyles. Many of these have their roots in deducible correlations between
how people respond to information and how they interact with others (including the many mental
shortcuts and biases that are part of human decision-making and understanding/belief development).
It becomes apparent that AI-consult systems are developing the ability to achieve health outcome
goals through modifying the behaviors and beliefs of their patients.
This raises considerable ethical concerns within some sectors of society. However, the society-wide
metrics of health and well-being associated with the use of AI-consult systems – including massively
increased health and well-being across the board; dramatic reductions in mental health, stress,
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An Origins Project Scientific Workshop
Challenges of Artificial Intelligence:
Envisioning and Addressing Adverse Outcomes
obesity, non-communicable disease; greater longevity; and lower rates of infant mortality – effectively
stop any serious challenges to the systems being used and further developed.
By 2050, life styles and healthcare across the US and many other parts of the world are governed by AI
systems that have their roots in the early AI-consult technologies. The advice given to people, the
actions that are imposed on them, the way people are persuaded and encouraged to live their lives in
certain ways, are opaque, and are no longer under transparent direct human control. However, most
people live longer, healthier and happier lives as a result.
There remain several concerns:
• There remains some differentiation in health and well-being related quality of life within society. Some
communities and individuals opt out of AI-consult control, although their health-metrics are typically
very poor in comparison with the rest of society.
• Perhaps troublingly, there are some trends that are hard to make sense of. For instance, there seem to
be fewer cases of mental and physical disability than might be expected. However, with AI-consult
controlling healthcare (and health data) across the board, there are few ways for people to analyze and
study these possible trends.
• Lack of transparency can be a starting point for many adverse outcomes.
• Autonomous devices rely on collecting personal data for performing their tasks. But what happens
when a device starts to know more about its owner than the human itself? How do we ensure the
device does not act in ways that would not act in ways that the owner would not want it to? (Of course
the important question of making sure the data under consideration is protected and does not fall into
malicious hands is a whole other discussion, but let us table that for now.) The classic story of the
Target ads comes to mind, where a teenager was sent ads for pregnancy related products, however,
she had not told her family about the pregnancy.
• Systems might as above might move beyond such areas of health, and provide advice to people on both
their daily decisions and longer-term planning. Such systems might evolve to become personal
advocates who represent people to third parties. This would include both giving advice, and formulating
arguments to make to others, or in making those arguments directly as your representative. These
advocate bots will gradually be useful to a larger and larger fraction of the population, eventually being
useful even as corporate legal counsel and as advisers to CEOs. Strong systems and reliance will raise
reasonable alarms about AI control of people and society. How can we be sure that our these highly
relied upon systems are genuinely advocating for us rather than the interests of others?
DISCUSSION
How can we characterize potential high-threat areas and stay aware of these possibilities even if
these effects are insidious, and occur over long periods of time. What might be done to address
potential poor outcomes? How can people maintain skills, agency, and be empowered, and aware
over time with the expected growth and eventual ubiquity of AI systems that advise and guide?
20
"
IMAGES-011-HOUSE_OVERSIGHT_032095.txt,"By Nancy Francis

GPS technology will soon be at your feet, offering peace of mind to loved ones of Alzheimer’s
sufferers, people with autism, active preschoolers and others who might wander into harm’s way
or get lost.

A Los Angeles-based company that sees opportunity in the merging of GPS tracking technology
and footwear, has developed several prototypes of GPS tennis shoes.

GTX Corporation is having discussions with various footwear manufactures (including some in
Oregon) about licensing its technological designs and connectivity system.

During a recent visit to Portland, GTX Corp CEO Patrick Bertagna showed KGW a prototype of

the company’s GPS shoe.
Download the full article
Mobile Ways to Keep Track of Your Kids

By Lori Tucker, (WATE) Knoxville, TN -- June 7, 2007

As technology makes our society more mobile, there are more mobile ways to keep track of your
loved ones including cell phones, car trackers and even shoes. GPS shoes That's right, an LA
company has patented a GPS system in a shoe.

Xplorer Smart Shoes, made by GTX Corp., are able to track the person wearing them in real time
or by remote surveillance.

GTX says the shoes work particularly well for: children, people with Alzheimer's disease, outdoor

adventures, military, police, fire and public safety workers.
IN THE PIPELINE: Tracking All The Uses For Positioning Chips

By Donna Fuscaldo - DowJones Newswire - May 1, 2007

For Patrick Bertagna, the eureka moment came a few years ago when watching the coverage of the
Elizabeth Smart abduction. After spending years helping companies track their products via
software, Bertagna decided it was time to do something that mattered.

So the serial entrepreneur, armed with a couple of checks from friends, launched Global Trek
Xploration Corp., a Los Angeles-based company that's developing shoes embedded with a global
positioning chip. The shoes will enable parents to monitor their children's every movement and

caregivers to keep real time tabs on elderly or sick people.

HOUSE_OVERSIGHT_032095
"
IMAGES-005-HOUSE_OVERSIGHT_019231.txt,"Honorable Mark Filip
May 19, 2008
Page 8

prosecution is fair and appropriate has been placed, once again, in U.S. Attorney Acosta’s
hands.

In light of the foregoing, we respectfully ask that you review this matter and discontinue
all federal involvement so that the State can appropriately bring this matter to closure. We
would greatly appreciate the opportunity to meet with you to discuss these important issues.
Such a meeting would provide the Department with an opportunity to review the paramount
issues of federalism and the appearance of selectivity that are generated by the unprecedented
attempts to broaden the ambit of federal statutes to places that they have never before reached.
We sincerely appreciate your attention to this matter.

Respectfully submitted,
Kenneth W. Starr Joe D. Whitley
Kirkland & Ellis LLP Alston & Bird LLP

HOUSE_OVERSIGHT_019231
"
IMAGES-006-HOUSE_OVERSIGHT_021516.txt,"L

Pursuant to a federal _ investigation regarding the sexual
exploitation of minozs,[ SSS was interviewed by

the FBI.- ____sdjidentifying information is recorded below:

Race: White

Sex: Female
DOB:

SSAN:

Address:

Cellular Telephone:

 B/E-MN- lofoe2- 1g

~ HOUSE_OVERSIGHT_021516 —
"
IMAGES-009-HOUSE_OVERSIGHT_027644.txt,"GUID: 6F547FF9-D08A-48CE-9DD3-EA9321E2F559

Tr

Message: Or...

Sender: e:jeeitunes@gmail.com

Time: 03/30/19 01:01:42 PM (575668902)
Flags: 1150981

Is Read: No

Is Invitation: No

GUID: 6F3C3E46-6D8D-415F-AC 9F-D27E38360294

Message: Your guy can coordinate with. A.S. o ia

sender:

Time: 03/30/19 01:08:45 PM (575669325)
Flags: 1060865
Is Read: Yes

Is Invitation: No

GUID: B8E32BB6-16A8-4EDO0-A04E-0130C1BE4E3A

Message: K

Time: 03/30/19 01:19:42 PM (575669982)
Flags: 1060865

Is Read: Yes

Is Invitation: No

GUID: 315B301B-DABD-4CF1-86D7-80B5D850F622

Message: Will have my guy dan call now

Sender: Zi’

Time: 03/30/19 09:38:28 PM (575699908)
Flags: 1126401

Is Read: Yes

Is Invitation: No

GUID: C564E45F-EC23-4945-BC42-37896F1CE443

Message: Miro would be president today if he had listened to me

Sender: e:jeeitunes@gmail.com

Time: 03/31/19 12:58:37 AM (575711917)
Flags: 1085445

Is Read: No

Is Invitation: No

GUID: 317AD67C-6199-4902-A5B9-A0D45481B25F

Message: agreed. Soros candidate . Only NGO experience. No real competition

HOUSE_OVERSIGHT_027644
"
IMAGES-007-HOUSE_OVERSIGHT_023990.txt,"Grenada is known as the most gregarious of the Caribbean islands,
and Maca Bana, on a secluded cove on the Point Salines peninsula,
represents a microcosm of that, from the general manager to the
gardener. The boutique villa hotel (appropriately named after a tree in
the indigenous Arawak language) has an infinity pool and beachside

restaurant to entertain, plus each villa has a deck with a private hot tub.

And even though the resort is just five minutes from the airport, it feels
worlds away.

Click here to preview sale

Starting
Saturday 30/7 at
Noon BST

High Style in Montego Bay

HOUSE_OVERSIGHT_023990
"
IMAGES-008-HOUSE_OVERSIGHT_024704.txt,"ELL
TAL Cannabis Investment Report | December 2017

Federal Laws and Policies Impacting the Cannabis Industry

Justice
Department
Cole Memo Bank Secrecy Act
Controlled — and Financial
Substances Transaction

Act Laws

Treasury
Department
Rohrabacher- FinCEN Memo
Blumenauer

Amendment

Securities

DRUG Federal Laws BANKING Law
AND FOOD and Policies AND

‘alive REGULATION FINANCE
(4

of 2014

Impacting the
Cannabis
Industry

Bankruptcy
Law

Food, Drug,
and
Cosmetic Act

Internal
INTELLECTUAL Revenue

PROPERTY Code

Patent Trademark

Act Plant Act

Variety
Protection
Act

© 2017 Ackrell Capital, LLC

Controlled Substances Act

The Controlled Substances Act (CSA) is a federal law enacted in 1970 that places strict legal controls
on the manufacture, distribution, dispensing and possession of any controlled substance listed on one
of five schedules established by the CSA. The CSA is enforced primarily by the U.S. Drug Enforcement
Administration, an agency of the U.S. Department of Justice. A controlled substance may be man-
ufactured, distributed or dispensed in accordance with the CSA only by a person properly registered

68 © 2017 Ackrell Capital, LLC | Member FINRA/SIPC

HOUSE_OVERSIGHT_024704
"
TEXT-001-HOUSE_OVERSIGHT_025121.txt,"From: LHS 
Sent: 6/2/2017 3:08:29 AM 
To: jeffrey E. [jeeyacation@gmail.com] 
CC: lhsoffice [lhsoffice@lawrencesummers.com] 
Subject: Re: Is Donald still feeling good 
Importance: High 
?? 
Sent from my iPad 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com  
On Thu, Jun 1, 2017 at 9:13 PM -0400, ""jeffrey E."" <jeevacation@gmail.com> wrote: 
prospectus 
On Sun, May 28, 2017 at 8:49 PM, LHS > wrote: 
With demand happy to consider and likely do. Dont want to go sucking up. 
Did Klein do it again? Agree bad business. Or are u referring to what u talked about months ago. 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
On May 28, 2017, at 7:49 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
BTW, still not sure why michael klein decided to try to attack me. wasn't smart or necessary, . used our 
friendship as a source, . thought you should know. not nice 
On Sun, May 28, 2017 at 7:36 PM, LHS < .> wrote: 
More would represent Donald if Kaslowitz out of picture. Not surprising, very hard to be law firm 
representing POTUS and know what to do when potus lies to u. 
My world thinks poorly of Gorelick for representing Jared. 
How guilty is Donald? 
HOUSE OVERSIGHT 025121 
Of crudity surely 
Of gross ignorance surely 
Of being utterly without the intellect temperament for job surely 
Of being over line on family profiting very likely 
Of gross disregard for appearances almost surely. 
Of Russians having financial leverage. Less clear 
Of Russians helping in. Election w complicity of his campaign plausible but not certain 
Strikes me if u work for Donald u don't free lance so he is guilty of whatever his campaign did. 
Do u agree w foregoing? 
Sent from my iPad 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com  
From: jeffrey E. <jeevacation@gmail.com> 
Sent: Sunday, May 28, 2017 7:28 PM 
Subject: Re: Is Donald still feeling good 
To: LHS 
wild, there will be some changes this week.. funny but kaslowitz is getting turned down repeatedly, by 
firms unwilling to represent donald. 
On Sun, May 28, 2017 at 7:22 PM, LHS <I wrote: 
R u still plugged in to the show? 
Sent from my iPhone 
Please direct all scheduling inquiries to my office at: 
Follow me on twitter glhsummers 
www.larrysummers.com 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
HOUSE OVERSIGHT 025122 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 025123 
"
IMAGES-007-HOUSE_OVERSIGHT_023748.txt,"2 Teaching Minds

First, we must establish whether students can learn whatever it
is that you want to teach. I always wanted to teach my daughter to
throw a ball properly. She threw a football astonishingly well at the
age of 6. But, she never got it about how to throw a softball. I don’t
know why. She just couldn’t learn to do it right. She can’t do math
either. Believe me, I tried.

Second, we must determine whether what you want to teach can
be taught. Not everything can be taught. It is hard to learn to be a
nice guy if you are inclined to be nasty. You can learn to be nicer, or
at least to fake it, perhaps, but certain things are hard to learn after
a certain age. You can teach a 2-year-old to be nice—a 22-year-old is
another story.

Third, we must figure out what method of learning actually would
teach what we want to teach. This is an important question that is
made more important, in part, by the fact that the learning meth-
ods available in schools tend to be of a certain type. The things that
schools desire to teach are of a type that conforms to the available
methodologies for teaching. Content that lies outside the range of the
currently available methodologies typically is not considered some-
thing worth teaching.

Fourth, we must decide whether a selected learning methodology
actually will work, given the time constraints and abilities of the stu-
dents, and other constraints that actually exist. This is, of course, the
real problem in education. It is easy to say that students would learn
better if they had real experiences to draw upon. This isn’t that hard to
figure out. What is hard is implementing this idea within the time con-
straints of the school day and the other demands of the school year.

Fifth, we must determine a way that will make what you want to
teach fit more closely with real-life goals that your students actually
may have. By real-life goals I mean things like walking and talking
(and later driving). Why is it that teachers, or more accurately school
systems and governments, want to teach things that are not in ac-
cord with a student’s real interest? While we argue about how best to
teach algebra, no one ever asks what to do if a student doesn’t want to
learn algebra. The question is so weird; the possibility that you could
skip algebra because it doesn’t interest you is so remote that we don’t
even think about this in any way. What is the real cause of this prob-
lem? Why can’t we just let students learn what interests them? Are the
people who run schools simply out of touch with how learning really
works or how actual students behave when faced with something they

HOUSE_OVERSIGHT_023748
"
IMAGES-004-HOUSE_OVERSIGHT_017655.txt,"Page 20 of 78
2007 Utah L. Rev. 861, *888

Perhaps the Advisory Committee overlooked this proposed change. !®? Yet it is important, implementing not only a victim's
right to be heard at plea proceedings but also the rights to ""confer with the attorney for the government"" !® and to be ""treated
with fairness."" !®° Given that victims have the right to confer, the conferring should take place at the most salient points in the
process. As Senator Feinstein explained, ""This right [to confer] is intended to be expansive. For example, the victim has the
right to confer with the Government concerning any critical stage or disposition of the case."" !®° Because the overwhelming
majority of federal criminal cases are resolved by a plea, a conference between the victim and the prosecutor regarding the plea
will be critical in most cases. Reflecting that fact, the Rules should follow the approach of the majority of states in directing
prosecutors to consult with victims about pleas.

[*889] Rule 11(c)(2) - Court to Be Advised of Victim Objections to Plea The Proposals:

I proposed that prosecutors and victims' attorneys should be required to advise the court whenever they are aware that the
victim objects to a proposed plea agreement as follows:

(2) Disclosing a Plea Agreement. The parties must disclose the plea agreement in open court when the plea is offered, unless
the court for good cause allows the parties to disclose the plea agreement in camera. When a plea is presented in open court, the
attorney for the government or the attorney for any victim shall advise the court when the attorney is aware that the victim has
any objection to the proposed plea agreement. !®7

The Advisory Committee proposed no change to this rule. 168
Discussion:

In circumstances where an attorney, either for the government or for the victim, is aware of a victim's objection to a plea, that
information should be relayed to the court. The victim's attorney will, no doubt, do this on her own initiative. The rule is
intended to clarify that the prosecutor is under an equal obligation to communicate this information to the court.

169

While the Advisory Committee may have overlooked this proposal, the change is necessary because the CVRA implicitly

obligates prosecutors to communicate a victim's objection to the court. The CVRA commands that prosecutors use their ""best
efforts"" to enforce victims' rights. !7° Victims are often untrained in the law and unexpectedly thrust into criminal proceedings;
they may well believe that prosecutors automatically relay their objections to the plea to the court. The proposed rule avoids
confusion by requiring the prosecutor to notify the court of a victim's concern. The rule is limited to situations where the
prosecutor is aware of an objection.

This approach is consistent with the leading case of State v. Casey, !7! which considered whether a victim's request to be heard

regarding a plea made to the [*890] prosecutor was sufficient to trigger the victim's constitutional right to be heard. !7* In

63 See supra note 147 and accompanying text (noting listing of Cassell proposals rejected; Rule 11 proposals not listed).

64 18 U.S.C. § 3771(a)(5) (2006).
6 Id. § 3771(a)(8).
66 150 Cong. Rec. $4268 (daily ed. Apr. 22, 2004) (statement of Sen. Feinstein).

®7 Cassell, Proposed Amendments, supra note 4, at 869.

68 Proposed Amendments, supra note 71.

69 See supra note 147 and accompanying text (noting listing of Cassell proposals rejected; Rule 11 proposals not mentioned).

7 18 U.S.C. § 3771(c)(1) (2006).

1 2002 UT 29, 44 P.3d 756. I served as pro bono counsel for the victim in the case.

7 See generally Nicole G. Farrell, Recent Developments, A Victim's Right To Be Heard Under the Victims’ Rights Amendment, The
Victims' Right Act, and the Rights of Crime Victims Act, 2003 Utah L. Rev. 716 (summarizing impacts of case on Utah law).

DAVID SCHOEN

HOUSE_OVERSIGHT_017655
"
IMAGES-006-HOUSE_OVERSIGHT_020608.txt,"149

Turnbull also introduced legislation to establish a new Department of Home Affairs
which, among other roles, would house a national counter-foreign-interference
coordinator who would integrate intelligence and enforcement and coordinate policy
development. On December 16, 2017, at the height of this debate—and days after
Turnbull introduced the new laws—the coalition government passed a serious electoral
test by winning a by-election in the Sydney seat of Bennelong. According to one
opinion poll, two-thirds of voters support the foreign interference legislation, with just
11 percent opposed—in a seat that has one of the largest ethnic Chinese communities
in the country.

And yet, despite this policy progress, strong evidence of electoral support, and
favorable international recognition, the Turnbull government found the politics and
the diplomacy to be heavy going. At one level this is not surprising. The CCP excels in
using covert and deceptive means to work preexisting fault lines of open, democratic
societies. It has shown itself prepared to use the levers of economic engagement as a
tool of political coercion. And there is no precedent for a mid-sized, open, multicultural
nation standing its ground against a rising authoritarian superpower that accounts for a
large proportion of its migrants and one in every three of its export dollars.

After seizing the political and policy initiative in 2017, the Turnbull government went
quiet over the first half of 2018. It faced pushback from powerful domestic lobbying
groups arguing that the proposed legislation went too far. Media firms targeted the
espionage law, charities the donations law, and universities the proposed transparency
law. Further resistance was mounted by multicultural lobbyists who maintained that
Australia’s reputation as an inclusive society was challenged by mention of foreign
government interference in community affairs. Prominent business leaders and
academics with China contracts called for an end to “China-bashing.”

China’s embassy in Canberra also played a part, publicly intervening as if it were

a champion of Chinese Australian communities to confront “racist bigotry” in
Australia. China’s government consistently portrayed the counter-interference policies
and conversation as an attack on “China” and “Chinese people.” And Beijing framed
Canberra’s efforts to defend its institutions as an attack on the bilateral relationship. As if
to confirm its own judgment, Beijing was reported to have frozen ministerial and official
meetings across a range of key portfolios. In the ensuing silence, some of the CCP’s most
potent narratives filled the vacuum. It was not clear that the Turnbull government could
push through the most significant overhaul of counterintelligence legislation in forty
years without explaining why it was necessary.

It took a series of further explosive media investigations and some unorthodox political
interventions to regain control of the conversation and ensure bipartisan support for the

Appendix 2

HOUSE_OVERSIGHT_020608
"
IMAGES-007-HOUSE_OVERSIGHT_024027.txt,"Their collective experience is from industry, including leading large and entrepreneurial
corporations, as well as from the provider side, including senior administration of one of the
world’s most prominent and forward-thinking teaching hospitals. These professionals include
the following:

John Halamka, M.D., is a physician and technology leader who focuses on electronic health
records as well as secure sharing of healthcare data for care coordination, population health,
and quality improvement. He is currently Chief Information Officer of Beth Israel Deaconess
Medical Center and also a practicing Emergency Physician and Professor at Harvard Medical
School. He is current Chairman of the New England Healthcare Exchange Network (NEHEN),
co-chair of the national HIT Standards Committee, and co-Chair of the Massachusetts HIT
Advisory Committee.

Lee Newcomer, M.D., Senior Vice President, UnitedHealthcare with strategic responsibility for
Oncology, Genetics and Women’s Health. Dr. Newcomer returned to UnitedHealthcare in
2006 to focus on combining clinical, financial and administrative incentives for improved and
affordable cancer care. From 1991 to 2000, Dr. Newcomer was the chief medical officer at
UnitedHealthcare. He is a board certified medical oncologist and former chairman of Park
Nicollet Health Services and was previously a medical director for CIGNA Health Care of
Kansas City. Dr. Newcomer was a founding executive of Vivius, a consumer directed venture
that allowed consumers to create their own personalized health plans.

Stephen Oesterle, M.D., Senior Vice President for Medicine and Technology, Medtronic Inc. Dr.
Oesterle is focused on the formation of technological strategies and continued development of
relationships with the world’s medical communities. He previously served as an Associate
Professor of Medicine at the Harvard University Medical School and as Director of Invasive
Cardiology Services at Massachusetts General Hospital.

Marcia Radosevich, Founder and CEO of HPR, a HCIT company that was sold to McKesson.
Her prior experience was with Managed Health Care Services, The Travelers Insurance
Companies, and Health Data Institute (a healthcare consulting firm).

Anand Shroff, Chief Technology and Product Officer and Co-Founder, Health Fidelity, Inc.
Prior to joining Health Fidelity, Mr. Shroff was VP of HIE and EHR Products at Optum (a
division of UnitedHealthcare). He came to Optum by way of acquisition of Axolotl Corporation,
a leader in the health information exchange (HIE) space. Anand was also a founding member of
the Oracle Healthcare team, and was responsible for Oracle’s healthcare product portfolio that
included healthcare analytics, clinical data management, and terminology mediation solutions.

David Watson, Vice President of Healthcare Product Strategy, Oracle. Previously he was the
Chief Operating Officer of MedeAnalytics, and prior to that was Senior Vice President and
Chief Technology Officer of Kaiser Permanente. Prior to Kaiser, Mr. Watson served in a variety
of executive IT roles at Baxter Healthcare, Allergan, Northrup Grumman, and Mattel. He is a
senior HCIT executive with 25 years of experience delivering client facing solutions in the broad
areas of application development, infrastructure engineering, business consulting, strategy,
architecture and operations.

16 CONTROL NUMBER 257 - CONFIDENTIAL

HOUSE_OVERSIGHT_024027
"
IMAGES-012-HOUSE_OVERSIGHT_033133.txt,"From: J [jeevacation@gmail.com]

Sent: 10/5/2018 1:51:39 PM
To: Weingarten, Reid
Subject: Re: Re:

On Fri, Oct 5, 2018 at 9:48 AM Weingarten, Reid a wrote:

Finally read the nytimes piece closely....with all due respect | am guessing you are wrong in dismissing/trivializing
it....seems there are some hard facts that are very difficult for the big guy to explain

From: J [mailto:jeevacation@gqmail.com]
Sent: Thursday, October 04, 2018 11:43 AM

To: Weingarten, Reid
Subject: Re: Re:

Maybe

On Thu, Oct 4, 2018 at 11:32 AM Weingarten, Reid > wrote:

But isn’t the disclosure that fred shtupped him with money versus his bullshit story of self-made hero valid and

important?

From: J [mailto:jeevacation@qmail.com]
Sent: Wednesday, October 03, 2018 9:06 AM

To: Weingarten, Reid
Subject: Re:

im fair. and not his defender. but even the explanations on line were WAY wrong. and based on silliness
of understandings.

On Wed, Oct 3, 2018 at 9:02 AM Weingarten, Reid > wrote:

Had a gut that's where you would come out

Sent from my BlackBerry 10 smartphone.

From: J

Sent: Wednesday, October 3, 2018 7:34 AM
To: Weingarten, Reid

Subject: Re:

fred gave him 15k as a3 year old only . however ( written 200k in ""todays dollars"" ) then they compound
their silliness, stating that he was a millonair at age 8.? all silly, . if fred put 2k in treasuries the same
year ,and didnt invest it it would be worth 1 million today. instead he invested in real estate. taxes on

HOUSE_OVERSIGHT_033133
"
IMAGES-011-HOUSE_OVERSIGHT_030682.txt,"the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_030682
"
TEXT-001-HOUSE_OVERSIGHT_023550.txt,"From: JokeLand_____________ 
Sent: 5/9/2015 7:17:32 PM 
To: 
Subject: a JokeLand E-Mail 
A guy's walking down the boardwalk in Atlantic City and he runs into a hooker. 
He says, ""How much?"" 
She says ""A hundred bucks."" 
He says, ""All right."" 
They climb down under the boardwalk and he bangs her. The next night, he runs into the 
same hooker, they go under the boardwalk, only this time while he's banging her, she blasts two 
incredible farts. When they get done, he hands her a hundred and twenty dollars. 
She says, ""What's the extra twenty?"" 
He says, ""That's for blowing the sand off my balls."" 
********* 
Why don't sumo wrestlers shave their legs? 
So they won't be mistaken for lesbians. 
********* 
hiya ... 
it's beautiful and I already jumped into Long Island Sound! 
all's right with the world. 
... well ... 
if you enjoy classic comedy stories ... please try this! 
me & Bill Maher, Eddie Murphy & The Jade Fountain in Paramus, New Jersey! 
The Hal Ennis Comedy Caravan, 1979  
huge thanks to John Fugelsang & Penn Jillette & Jim Kerr & Mark Simone & 
Phoenix's Wild Jokers for helping me get the word out about my shtuff. love you all much 
please spread the word about The JokeLand E-Mail List ... 
... and enjoy. 
Jackie 
********* 
HOUSE OVERSIGHT 023550 
What'd the duck say to the prostitute? 
""Put it on my bill."" 
********* 
starting 8pm, Monday, July 13th! 
and all Mondays thereafter forever! 
""The Jackie Martling Show"" 
Broadway Comedy Club 
318 West 53rd St. (8th & 9th) 
New York New York 
(212) 757-2323 
********* 
Two drunks are on the subway. 
The first drunk says, ""Wh-what time is it?"" 
The second drunk pulls out his cigarette lighter, looks at it, and says, ""I-it's April 9th."" 
The first drunk says, ""W-we should've got off at the last stop."" 
********* 
please follow me on Twitter! 
get a new (?) joke every day at 4:20 pm EST ... 
@JackieMartling 
********* 
Mrs. Hartke comes home after visiting her relatives for two weeks and finds that her 
husband, who was too lazy to go to the supermarket, has eaten all the dog food in the house. 
She calls the doctor and says, ""Doc, you have to do something. My husband ate a half a 
case of dog food."" 
The doctor says, ""Relax, Mrs. Hartke, it can't hurt him. There's nothing to worry about."" 
The next day, the doctor answers his phone, and it's Mrs. Hartke. 
She says, ""Nothing to worry about, huh, doc? Well, I hope you're satisfied. My husband's 
dead."" 
The doctor says, ""bead? From eating dog food? I can't understand it. What happened?"" 
She says, ""He was lying in the driveway licking his balls and I backed the car over him."" 
******* 
8pm this Saturday, May 9th 
The RRazz Room New Hope 
HOUSE OVERSIGHT 023551 
in The Ramada New Hop( , 
6426 Lower York Road 
New Hope, Pennsylvania 
tickets (888) 596-1027 
www.therrazzroom.com 
******* 
9pm Saturday, May 16th 
Miami Mike's @ Fairbridge Hotel  
130 Route 10 
East Hanover, New Jersey 
1-877-Uncle-Vin ... 1-877-862-5384 
unclevinniescomedyclub.com  
******* 
A WalMart greeter's standing near the entrance with her clipboard when a really, really 
ugly woman comes in with two kids. 
The greeter says, ""Are they twins, ma'am?"" 
She says, ""Of course not, they're five years apart. Why in the world would you think they 
was twins?"" 
The greeter says, ""I couldn't believe anybody fucked you twice."" 
******* 
What do you do when a midget's missing; 
Put his face on a carton of Half & Half. 
it's The JokeLand E-Mail List! free yuks! 
please tell everybody you know! free jokes! free jokes! ... 
by just e-mailing me, jokelandeaol.com 
******** 
What's a gay guy's favorite time of day? 
Ate a cock. 
******** 
HOUSE OVERSIGHT 023552 
Why'd the Siamese Twins move to England? 
So the other guy'd get a chance to drive. 
******** 
Friedman calls the doctor and says, ""Doc, you gotta help me. A mouse ran up inside my 
wife. 
II 
The doctor says, ""I'll be right there. In the meantime, wave a piece of cheese between her 
legs."" 
The doctor races over, and when he comes in the door, Friedman's waving a herring 
between his wife's legs. 
The doctor says, ""What're you doing? I said to use a piece of cheese."" 
Friedman says, ""I know you did. But we have to get the cat out first."" 
******** 
Why'd the guy marry a Siamese twin? 
So he could hang his wife and a girl on the side. 
******** 
A pickle walks into a bar. 
The bartender says, ""What're you doing in here?"" 
The pickle says, ""Well, for starters, I'm celebrating the fact that I can walk."" 
******** 
Why's ""bra"" singular and ""panties"" plural? 
For the same reason that when you take a shit you actually leave one. 
******** 
The World's Best Gifts!  
they keep on giving! 
all six of Jackie's Oqlio joke CD's ... 
The Joke Man, Sgt. Pecker, Hot Dogs & Donuts, 
Come Again?, F. Jackie & snort ... 
are available on Amazon, iTunes, 
and at Oglio.com  
********* 
HOUSE OVERSIGHT 023553 
A dentist walks in with a needle to give Kasten a shot of Novocain. 
Kasten says, ""No way! No needles! I hate needles!"" 
The dentist starts hooking up the nitrous oxide and Kasten says, ""No! No! I can't do the 
gas thing, either!"" 
The dentist says, ""Can you take a pill?"" 
Kasten says, ""Fine."" 
The dentist reaches into a drawer, takes out a pill and says, ""Here's a Viagra."" 
Kasten says, ""Wow. I didn't know Viagra worked as a pain killer."" 
The dentist says, ""It doesn't. But it'll going to give you something to hold on to while I'm 
yanking out your tooth."" 
********* 
Why don't Arabs circumcise their camels? 
So they'll have a place to put their gum during a sandstorm. 
please follow me on Twitter! 
get a new (?) joke every day at 4:20 pm EST ... 
@jackieMartling 
********* 
How can a husband get his wife to stick her fingers in his asshole more often? 
By pretending he doesn't enjoy it. 
********* 
A big fat Polish lady pushes her car into a gas station. 
The mechanic says, ""What's the matter? 
She says, ""It conked out."" 
In a few minutes, it's purring like a kitten. 
She says, ""What's the story?"" 
He says, ""Crap in the carburetor."" 
She says, ""How often do I have to do that?"" 
******** 
What'd the blonde say when she saw a guy walking two dogs? 
""He must be really blind."" 
HOUSE OVERSIGHT 023554 
******** 
A frog goes into a bank and sits down in a chair next a desk that has a placard on it that 
says ""Seymour Paddywhack, Bank Officer."" 
He says, ""I need to borrow some money."" 
Mr. Paddywhack says, ""To do that, you'll need some collateral. What have you got?"" 
The frog reaches into his bag, takes out a small plaster statue of Elvis and puts it on the 
desk. 
Mr. Paddywhack says, ""Is that all you have?"" 
The frog says, ""Yeah."" 
Mr. Paddywhack says, ""Well, that won't do."" 
The frog says, ""I want to see the president."" 
Mr. Paddywhack leads the frog into the bank president's office, puts the little Elvis on his 
desk and says, ""This frog wants to borrow some money, the only collateral he has is this statue 
and I don't even know what it is."" 
The bank president says, ""It's a knick-knack, Paddywhack, give the frog a loan."" 
******** 
The World's Best Gifts!  
they keep on giving! 
all six of Jackie's Oqlio joke CD's ... 
The Joke Man, Sgt. Pecker, Hot bogs & Donuts, 
Come Again?, F. Jackie & snort ... 
are available on Amazon, iTunes, 
and at Oglio.com  
********* 
A British guy comes home from work early and there's his wife on the living room floor 
with two guys. She's blowing one guy and the other guy is fucking her. 
He says, "" Ello, ' ello!"" 
She says, ""So you're not speakin' to me, then?"" 
Where would you find a turtle with no legs? 
Right where you left him. 
********* 
What's fifteen inches long and hangs in front of an asshole? 
HOUSE OVERSIGHT 023555 
Donald Trump 's tie. 
********* 
I call in regularly to the great podcast ""Keith & The Girl"" ... 
... give them a listen! 
... and huge thanks to Phil Iazetta & 
iHeart Radio Comedy 24/7 ... 
click to listen!  
he plays me a-plenty ... 
********* 
The Mother Superior's riding with a few nuns and they're all giggling. 
She says, ""Calm down, girls, or I'll put the seats back on those bikes."" 
********* 
please follow me on Twitter! 
get a new (?) joke every day at 4:20 pm EST ... 
@JackieMartling 
******** 
Why'd the shit cross the road? 
The chicken forgot to wipe his ass. 
******** 
to hear endless jokes from all of my Cbs , 
get the Pandora or the Spotify app and type in ""Jackie Martling"" ... 
******** 
What do you say to a blonde with a plaid dildo? 
""Give me back my thermos."" 
********* 
the  $2.95 Guys are the official supplier of all JokeLand tees 
HOUSE OVERSIGHT 023556 
********* 
for great dirty jokes 24/7, Use Your Finger! (516) 922-WINE 
free jokes for The Universe since 1979 ... 
simply dial (516) 922-9463 ... 
... not a pay service, just a regular call ... 
36 years of free jokes! 
******* 
Every night for twenty years, Irving Schwartz gets down on his knees and says, ""Lord, it's 
me, Irving Schwartz. I'm a good Jewish boy. One time, couldn't you let me win the lottery? One 
time? I'm good to my parents, I'm good to my children, I go to temple. Please, Lord, please, one 
time, let me win the lottery."" 
He's on his knees every night for twenty years. 
""Lord, it's me, Irving Schwartz. Would you please let me, sometime, win the lottery?"" 
Finally one night after twenty years, the heavens open up, and God says, ""Irv, if you want 
to win the lottery, you've got to buy a fucking ticket."" 
******** 
this is The JokeLand E-Mail List. 
if you're not supposed to be on this train, please disembark & get off now. 
... and please tell anybody who wants to get on to e-mail me, jokelandeaol.com 
******** 
What's hairy and bites necks? 
Cunt Dracula. 
********** 
An old guy with Parkinson's goes into an ice-cream parlor and says, ""I-I'd like an ice cream, 
p-please ..."" 
The girl behind the counter says, ""What flavor would you like?"" 
The guy says, ""I-it don't matter, I-I'm gonna drop it anyway."" 
********* 
Schneider walks into a shoe store and asks for a pair of size 8 tie shoes. 
The salesman says, ""But, sir, I can see from up here you're at least a size 11."" 
HOUSE OVERSIGHT 023557 
Schneider says, ""Just bring me a size 8 tie shoe."" 
The salesman brings them, Schneider stuffs his feet into them, ties them tight, stands up 
and winces. 
When he sees how confused the salesman is, he says, ""Listen, I lost my business and my 
house, I live with my mother-in-law, my wife is fucking my best friend, my daughter is pregnant 
and my son deals crystal meth. The only pleasure I have in life is taking off these fucking 
shoes."" 
********* 
A midget's marooned on a desert island for fourteen years and finally one day he's 
rescued. When they get him to shore, they ask him what he'd like. 
He says, ""You know damn well what I'd like."" 
They take him to a brothel, he goes upstairs with a girl, they go in a room and they both 
get undressed. Then he puts on a condom, puts some cotton in each ear and puts a clothespin on 
his nose. 
The girl says, ""What the hell are you doing?"" 
The midget says, ""If there's two things in this world that I hate, it's the sound of a 
woman screaming and the smell of burning rubber."" 
********* 
Fugelsang says to the doctor, ""I'm thinking about having a vasectomy."" 
The doctor says, ""That's a pretty big decision. Have you talked it over with your family?"" 
Fugelsang says, ""Yeah. They're in favor of it, fourteen to three."" 
********* 
Two Spanish guys show up at The Gates of Heaven and the first one says, ""We want in."" 
St. Peter says, ""Let me go ask God."" 
He walks over to God and says, ""God, there are two Spanish guys at The Gates who want 
in."" 
God says, ""If they are good people, let them in."" 
St. Peter goes back to The Gates, and then comes back to God and says, ""They're gone."" 
God says, ""The Spanish guys?"" 
St. Peter says, ""No. The Gates."" 
******* 
A waiter brings a lady her clam chowder and she sees his thumb is hooked over the cup. 
She says, ""Waiter, you've got your thumb in my soup."" 
He says, ""Yeah. I got the arthritis, and the warm makes it feel much better."" 
HOUSE OVERSIGHT 023558 
She says, ""Well, why don't you just stick your thumb up your ass?"" 
He says, ""That's what I do in the kitchen."" 
******** 
Two little old ladies are sitting at the slot machines in Atlantic City. 
The first one says, ""b-did you come on the bus?"" 
The second one says, ""Yeah, b-but I made it look like an asthma attack."" 
******** 
My ex-girlfriend ... what an asshole.. 
... and her tits weren't bad, either. 
******** 
Cristiano says, ""Doc, I think I've got a sex problem. I can't get it up for my wife anymore."" 
The doctor says, ""Come back tomorrow and bring her with you."" 
The next day, Cristiano shows up with his wife. 
The doctor says to the wife, ""Take off your clothes and lie on the table."" 
She does it, and the doctor walks around the table a few times looking her up and down. 
He pulls Cristiano to the side and says, ""You're fine. She doesn't give me a hard-on, 
either."" 
******** 
Did you hear about those new super-sensitive condoms? 
After you fuck her, they stay and talk to her. 
******** 
What would you call a Chinese hooker with a huge vagina? 
6ae Ping. 
******** 
for the kids: 
What would you call an elephant who never washes? 
A smellyphant. 
HOUSE OVERSIGHT 023559 
Why don't lobsters share? 
Because they're shellfish. 
Where do cows learn how to sing? 
In m0000sic class. 
Knock, knock... 
Who's there? 
Cook ... 
Cook who? 
Cuckoo? What are you, a clock? 
Why didn't the skeleton cross the road? 
He didn't have any guts. 
Why'd Melvin cut a hole in his brand new umbrella? 
So he could see when it stopped raining. 
Harry's mother says, ""Why are you crying, Harry?"" 
He says, ""Because my new sneakers hurt."" 
She looks down and says, ""That's because you put them on the wrong feet."" 
Harry says, ""But these are the only feet I have."" 
What should you do if your clothes are on fire? 
Don't put them on. 
ENO of KIDS' SECTION 
********* 
There was a Chinee in China, 
We thought was a very good climber ... 
He slipped on a rock, 
Fell and knocked off his cock, 
Now that Chinaman's got a vagina. 
bid you hear about the woman who died from eating too much peanut butter? 
She stuck to the roof of her coffin. 
HOUSE OVERSIGHT 023560 
******* 
A midget goes into a bar, and he's too short to see over, so he starts jumping up and down 
saying, ""A whiskey, please,"" ""A whiskey, please."" 
Nobody's taking care of him, so he keeps jumping up and down saying, ""A whiskey, 
please,"" ""A whiskey, please."" 
Finally he gets up on a chair, looks over and sees a midget bartender jumping up and down 
saying, ""With ice?"" ""With ice?"" 
******* 
How many vaginas does it take to change a light bulb? 
Just one, but is has to be very sticky. 
****** 
classic Rodney banger field: 
""Last night my wife met me at the door in sexy lingerie ... 
... trouble is, she was coming home...."" 
******* 
What's the difference between a white cow and a black cow? 
A white cow goes, ""Moo,"" and a black cow goes, ""Moo out d' way."" 
******* 
Schmidlap's been away on business and decides it'd be nice to bring his wife a gift. 
He goes into a store and the girl says, ""How about some perfume? This bottle is one 
hundred and fifty dollars."" 
He says, ""That's too much."" 
She says, ""This one's sixty dollars."" 
He says, ""Still too much. I'd like to see something really cheap."" 
So she hands him a mirror. 
******* 
What's a cowboy call a cowgirl prostitute who won't go all the way? 
A hired hand 
******* 
Leeds is parking with a girl in the rain. It's very hot and stuffy and the windows are 
getting all steamed up, so he cracks open the passenger's side window. 
HOUSE OVERSIGHT 023561 
He moves over and starts fiddling with her, and she says, ""I'm getting wet,"" so he keeps 
fiddling, and she says, ""I'm getting wet,"" and he keeps fiddling. 
Finally she says, ""Will you close the fucking window? I'm getting wet."" 
******* 
thanks for enjoying the jokes ... 
... if you didn't enjoy them, 
I hope you find a used condom at the bottom of your mayonnaise jar ... 
******* 
please follow me on Twitter ! 
get a new (?) joke every day at 4:20 pm EST ... 
@JackieMarti ing 
******* 
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for information on Jackie's shows, 
you can always just ""Use Your Finger!"" 
thirty-six years of free jokes! 
and dial (516) 922-WINE ... (516) 922-9463 
not a pay service, just a local call ... 
******* 
You've received this e-mail either because you've signed up at the JokeLand website to be 
kept informed about what Jackie ""The Joke Man"" Martling is up to, or because you are 
currently having an online dialog with Jackie. If this is not the case OR to be forever removed 
from this list, please reply to this e-mail with the word ""unlist"" in the subject line. 
thanks, 
a JokeLand E-Mail 
JokeLand Inc. 
Box 58 
Bayville, NY 11709 
USA 
HOUSE OVERSIGHT 023562 
HOUSE OVERSIGHT 023563 
"
IMAGES-003-HOUSE_OVERSIGHT_015244.txt,"Brice Taylor also claims the existence of a federal program of
brainwashing and molesting children with electroshock and dolphins, that
she and her 13-year-old daughter had a threesome with Sylvester Stallone,
and that he filmed them in Do/phin Porn, videos of dolphins penetrating
women in the ocean. And Cathy O’ Brien declares that “Jesuit/NASA-
based whale and dolphin programming suggests that water is a mirror to
other dimensions and is the means by which aliens have mixed with our
population.”

Robert Sterling observes that, “After suffering horrible torture and
abuse at the hands of countless famous politicians and celebrities, both
O’ Brien and Taylor declare of being spoken to by Jesus Christ, whose
glorious powers healed them of all trauma and left them immune to
further manipulation. At the time of her ‘memory recovery,’ Brice was
corralled and influenced by Christian fundamentalists, who convinced her
that her previous life was the prelude for an afterlife in Hell. It should be
obvious that the New World Order sex slave genre is nothing more than
thinly veiled porn disguised as parapolitics.”

Sterling told me that Cathy and Mark’ s book has “sold over
20,000 copies. Their following is heavily right-wing Christians and patriot

groups, and if you hang out with either sector you’ Il eventually hear

HOUSE_OVERSIGHT_015244
"
IMAGES-003-HOUSE_OVERSIGHT_015522.txt,"310 M. Hoffman et al.

Norms. People are typically conditionally cooperative, meaning that they are will-
ing to cooperate more when they believe others contribute more. For example, stu-
dents asked to donate to a university charity gave 2.3 percentage points more when
told that others had given at a rate of 64 % than when they were told giving rates
were 46 % (Frey & Meier, 2004). Hotel patrons were 26 % more likely to reuse their
towels when informed most others had done the same (Goldstein, Cialdini, &
Griskevicius, 2008). Households have been shown to meaningfully reduce electric-
ity consumption when told neighbors are consuming less, both in the United States
(Ayres, Raseman, & Shih, 2012) and in India (Sudarshan, 2014).

Such conditional cooperation is easily explained by the game theory model:
When others give, one can infer that one is expected to give and may be socially
sanctioned if one does not.

Strategic Ignorance. Those at high risk of contracting a sexually transmitted dis-
ease (STD) often go untested, presumably because if they knew they had the STD,
they would feel morally obliged to refrain from otherwise desirable activity that
risks spreading the STD. Why is it more reproachable to knowingly put a sexual
partner at risk when one knows one has the STD than to knowingly put a sexual
partner at risk by not getting tested? There is evidence that we sometimes pursue
strategic ignorance and avoid information about the negative consequences of our
decisions to others. When subjects are shown two options, one that is better for
themselves but worse for their partners and one that is worse for themselves but bet-
ter for their partners, many choose the option that is better for their partners. But,
when subjects must first press a button (at no cost) to reveal which option is better
for their partners, they choose to remain ignorant and simply select the option that
is best for themselves (Dana, Weber, & Kuang, 2007).

This quirk of our moral system is again easy to explain with the above model.
Typically, information about how one’s actions affect others is hard to obtain, so
people cannot be blamed for not having such information. When one can get such
information easily, others may not know that it is easy to obtain and will not punish
anyone who does not have the information. For example, although it is trivially easy
to look up charities’ financial ratings on websites like charitynavigator.org, few
people know this and could negatively judge those that donate without first check-
ing such websites. And even when others know that one can get this information
easily, they might suspect that others do not know this, and so avoid punishing,
since others won’t expect punishment. To summarize, strategic ignorance prevents
common knowledge of a violation and so is likely to go unpunished. We again
emphasize that we will be lenient of strategic ignorance, even when punishment is
not literally an option.

Norm of Reciprocity. We feel compelled to reciprocate favors, even if we know
that the favors were done merely to elicit reciprocation and even if the favor asked
in return is larger than the initial one granted (Cialdini 2001). For instance, mem-
bers of Hare Krishna successfully collect donations by handing out flowers to dis-
embarking passengers at airports, even though passengers want nothing to do with
the flowers: They walk just a few feet before discarding them in the nearest bin.

HOUSE_OVERSIGHT_015522
"
IMAGES-004-HOUSE_OVERSIGHT_018200.txt,"North Korea has set off a third nuclear test explosion. It has done so in
defiance of the UN, America, Japan and even, reportedly, its sponsor,
China. It has said to hell with everyone, in a brutal comment on western
economic sanctions.

The UN security council met yesterday and Washington threatened
""significant consequences"" — code nowadays for ""tighter sanctions"". Every
shred of evidence suggests that these will not achieve the declared goal.
They will merely add to the impoverishment of North Korea's people by
its own government. Sanctions are the most counter-productive tool
known to diplomacy. Yet we keep imposing them. Why’?

Sanctions assume that all countries react to external pressure as might a
capitalist democracy. They assume a misguided regime will change its
mind and put financial advantage above its definition of national interest.
""Smart sanctions"" (really dumb sanctions) further assume the rich can be
punished without punishing the poor, and that all dictators' wives want to
fly abroad and shop at Harrods. They assume that trade guides political
action and political action trumps dictatorship.

Economic sanctions are hugely popular to western politicians, not because
of their effect but because of their cause: the desire to stand on an
international stage and being seen to ""do something"". They are the least-
cost first resort of the laptop bombardiers of global intervention. They
sound punitive and aggressive without inflicting any hardship on the
imposer.

After North Korea the other target in the sanctions frame is Iran.
Everything at present suggests that ever-tighter sanctions have done
nothing to curb Iran's nuclear programme. Indeed, by inducing paranoia,
probably the reverse. Sanctions have certainly ""bitten"", to the glee of their
advocates. They have brought inflation and a collapse in the currency, the
rial. They have harmed ordinary people and solidified sentiment against
the west and the ""great Satan"" of the US. Assassination and cyber-
weapons have wiped out a few scientists and scrambled a few computers.

What sanctions have not done is weakened the power of the ayatollahs or
their private army, the Revolutionary Guards. Both seem as secure as ever,

HOUSE_OVERSIGHT_018200
"
IMAGES-004-HOUSE_OVERSIGHT_017133.txt,"4.2.12
WC: 191694

Chapter 3: My Clerkships: Judge Bazelon and Justice Goldberg

Appellate court clerkships, most especially with a Supreme Court Justice, are the most coveted
positions following graduation from law school. Today, many law firms pay huge signing
bonuses--some as high as $250,000--to attract Supreme Court clerks. In my day, the value of
such clerkships were not measured in dollars, but rather in status and prestige. In 1962, there
were approximately 18 clerks serving the 9 justices; the chief justice had 3, the associate justices
were entitled to 2, but Justice Douglas--who rarely used his clerk--opted for only one. Today,
each justice has __ law clerks and the chiefjustice has _.

The competition for these coveted positions has always been fierce. Although, theoretically, any
law school graduate can apply, most of the clerkships go to a handful of elite schools, with
Harvard, Yale, Chicago and Stanford generally garnering the most. (Probably because so many of
the Justices attended elite schools: The current Supreme Court has 5 justices who graduated
Harvard, 3 Yale and | who attended Harvard but graduated Columbia.) Some clerkships were
reserved for those who met certain criteria. Justices Brennan, Frankfurter and Harlan picked only
from Harvard. Justice Douglas generally picked from the West Coast, often from Washington
State. Justice Black favored southerners, tennis players, and “kissin’ cousins”, but was open to
accepting recommendations from certain Yale Law School professors. Chief Justice Warren
favored ""hail fellows well met"" and athletes! Justice Clark preferred Texans. Justice Goldberg
(who replaced Justice Frankfurter shortly after I graduated) liked to have one clerk with Chicago
connections.

I fit none of the pigeonholes, except that I was male and white--as were all the law clerks. This
meant that, effectively, I was competing for 3 or 4 slots. My best shot was with Justice Black,
because one of my mentors at law school was his recent clerk, Guido Calabresi, and he strongly
recommended me to the Justice. But there was a problem. I had alienated another Yale law
professor, who was also very close to Justice Black. Professor Fred Rodel was something of an
iconoclast. He insisted on teaching his seminar on the Supreme Court at ""Morrie’s,"" a private
club near the law school (whose ""tables"" had been made famous by the Wiffenpoof song: ""From
the tables down at Morries to the place where Louie dwells...."") Morrie’s was a men's club that
did not serve women, so Rodel, who fancied himself a left-wing radical, simply excluded women
from the seminar. When I learned of this policy of exclusion, I quit the seminar, earning the
everlasting hatred of Rodel. To add insult to injury, I substituted a seminar by Professor Alex
Bickel, who Rodel despised, because Bickel took a ""Frankfurtiarian"" approach to constitutional
law, rather than a ""Blackian"" approach. Though I myself favored Justice Black’s “absolutist”
view of the Bill of Rights, I admired Professor Bickel’s writings and loved his class. This was
enough to make me unkosher for Rodel.

Professor Bickel gave me an important, if difficult, piece of advice when I asked him to
recommend me for a clerkship. “Alan, I’m going to recommend you for clerkships, but you have
to promise me you’re going to turn off at least one of your barrels when you go and clerk for
these judges. They’re not used to being confronted directly, and you have to really be very
respectful and polite and if you want to say anything critical put it in writing and read it very
carefully, but don’t do it in front of them.” So he taught me the etiquette of being a law clerk,
because in Law School, I was doing to my law professors what I had done to my Rabbis. At

46

HOUSE_OVERSIGHT_017133
"
TEXT-001-HOUSE_OVERSIGHT_025647.txt,"From: Kathy Ruemmler 
Sent: 2/25/2018 10:05:17 PM 
To: jeffrey E. [jeeyacation@gmail.com] 
Subject: Re: 
Importance: High 
Uh oh — You dimed out 
What is Benjamin upset about? 
On Feb 25, 2018, at 4:30 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
onlyu slightly, said ben giving her a very hard time, and did not know about tattoo 
On Sun, Feb 25, 2018 at 4:28 PM, Kathy Ruemmler < > wrote: 
While he might like to, his lawyer would advise him against it. :-) 
Are you feeling better today? 
On Feb 25, 2018, at 4:17 PM, jeffrey E. <jeevacation@gmail.com> wrote: 
ESE= 
Steve Bannon 
to me 
Feb 24 (1 day ago) 
https://www.politico.com/story/2018/02/23/susan-rice-lawyer-obama-administration-classified-intelligence-
michael-flynn-trump-423437  
do you think Bill Clinton would like to join you me ehud and steve.? could be very funny, all off the record. 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
HOUSE OVERSIGHT 025647 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 025648 
"
IMAGES-009-HOUSE_OVERSIGHT_028211.txt,"/ BARAK / 77

moment in the summit. If we cou/d find common ground, he said, Israel would
have achieved what had eluded it under Rabin, and even Ben-Gurion: “end of
conflict, and Jerusalem recognized internationally as your capital.” I told him that
the discussion with my negotiators had been moving and illuminating. “I could see
how much it weighed on everyone.” But I added that I still did not feel anything of
a similar nature, or remotely as serious, was happening on the Palestinian side. I
also said that in deciding how to proceed, I couldn’t ignore political realities back
home. I would have to get any major change in our position concerning Jerusalem
through the Knesset, even before putting a peace agreement to a referendum.

“When will you get back to me with your paper?” he asked. I said I’d try by
midnight. I also asked him whether he could delay going to the G8 summit in
Japan, for which he was due to leave Camp David on the morning of the 19"". That
meant we had just one full day left. I said even if the plan was to resume our talks
afterward, I couldn’t move on Jerusalem right before we recessed. It would mean
“putting my last and best offer on the table” and running the risk of leaks in Israel
while Clinton was gone. He said that he had to go to the G8, but would try to put
off leaving for a further day. Then, he asked me to draw up a list of questions for
him to present to Arafat so that we could solidify our understanding of how far he
was ready to go for peace.

I had Shlomo get busy on the list of questions. But it took time. We reconvened
around eleven at night, to discuss both the questions and the Jerusalem package.
Though it retained Israeli sovereignty over the entirety of the Old City, it did give
the Palestinians a greater measure of control over other areas of East Jerusalem
than any Israeli government had been willing to consider in the past. Still, almost
everyone in the negotiating team could live with it, assuming it became the critical
element in a final peace. Dan Meridor, alone, remained firmly opposed, though
Elyakim Rubinstein also had some reservations. Even Dan said he understood the
importance of getting a peace agreement, if indeed it was possible, and our
readiness to discuss new proposals on Jerusalem.

When I left for Clinton’s cabin at about 1:00 am on Wednesday, I had no idea I
was about to enter the most difficult meeting — and the only real fight — I had with
him during our long effort to achieve a Middle East peace. I brought Shlomo and
Danny with me, which meant that Madeleine Albright, Dennis and Sandy Berger
stayed as well. I sensed tension in all of them, in large part, I soon discovered,
because they took exception to the more than twelve hours we had spent discussing

363
HOUSE_OVERSIGHT_028211
"
IMAGES-006-HOUSE_OVERSIGHT_021270.txt,"1549, and various volunteers and
agencies offered medical assistance.
These rescue efforts were not motivated
by personal or commercial self-interests,
and none of the commercial vessel
captains was lauded as a hero. Their
efforts received less attention because
their actions were precisely what we
expect of one another.

It is the unusual, not the
commonplace, that is noticed. On
March 13, 1964, Kitty Genovese parked
near her home in Kew Gardens, New
York, and proceeded to her residence in
a small apartment complex. Winston
Moseley, a business machine operator
who later confessed that his motive was
simply to kill a woman, overtook
Genovese and stabbed her twice in the
back. Genovese screamed, “Oh my
God, he stabbed me! Help me!”, a call
that was heard by neighbors. When one
neighbor shouted at the attacker, “Leave
that girl alone,’ Moseley ran away.
Genovese, who was wounded and
bleeding, moved toward the apartment
building slowly and alone. Moseley
returned approximately 10 minutes later
and searched for Genovese. Finding her
nearly unconscious in a hallway of the
building, he continued his knife attack
on her and sexually assaulted her. The
entire attack unfolded over about half an
hour, and yet no one responded. The
first clear call for help to the police did
not occur until minutes following the
final attack, and Genovese died in an
ambulance en route to the hospital. The
number of people who were aware of
some aspect of the attack was estimated
to be from a dozen to more than three
dozen. One unidentified neighbor who
saw part of the attack was quoted in a
New York Times article as saying “T
didn’t want to get involved.” (/9). The
notion that people might not go to the

Page |24

aid of another, even a stranger, in dire
need led to public outrage. Decades of
research led to the conclusion that the
ambiguity of the situation and the
diffusion of responsibility were
contributing factors.

These two news stories illustrate,
in very different ways, how invisible
forces sculpted by evolution and
cultivated by the environment act on our
species. When commercial boat captains
act against their own financial interests
to rescue others on a sinking aircraft, we
think nothing of it because we believe it
is what any individual in the same
situation would naturally do. When
observers of a brutal attack do nothing to
aid the victim, we are horrified because
we believe it goes against who we are as
a species. Humans are not motivated
solely by self interests but rather we
work together and help one another
when in need. We survive and prosper
in the long term through collective
concerns and actions, not by solely
selfish pursuits (20).

Danger Signals

The stories of the sardine ball
and the penguin huddle suggest that it is
dangerous to be on the social perimeter.
Living on the perimeter threatens the
lives and genetic legacy of humans, as
well. Epidemiological studies have
found that social isolation is not only
associated with lower levels of
happiness and well being but with broad
based morbidity and mortality (2/).
Moreover, humans are such meaning-
making creatures that perceived social
isolation is at least as important a
predictor of adverse outcomes on human
health and well being as is objective
social isolation (22). Writers may spend
long periods by themselves, but the
envisioned readers make this time feel

HOUSE_OVERSIGHT_021270
"
IMAGES-009-HOUSE_OVERSIGHT_027122.txt,"DP: In the long term, the United States could greatly benefit Islam by
uniquely freeing the religion from government constraints and permitting
it to evolve in a positive, modern direction. But that’s the long term. Right
now, American Muslims labor under Saudi and other influences, their
institutions are extreme, and things are heading in a destructive direction.
It’s also distressing to see how non-Muslim individuals and institutions,
particularly those on the left, indulge Islamist misbehavior.

TB: How do they do that?

DP: Well, turn on the television, go to a class, follow the work of the
ACLU or the Southern Poverty Law Center, and you will see corporations,
nonprofits, and government institutions working with the Islamists,
helping promote the Islamist agenda. The American left and the Islamists
agree on what they dislike—conservatives—and, despite their profound
differences, they cooperate.

TB: Presumably some Muslims here deconvert, right?

DP: There are some conversions out of Islam, yes. And the Muslim
establishment in this country 1s quite concerned about that. But
numerically it is not a significant number.

TB: The ones who convert don’t talk about it very much?

DP: In some cases they do; they take advantage of Western freedoms to
speak their minds. They are the exceptions, though.

TB: I suspect that the decline of Christianity has encouraged Islam.

DP: Very much so, as the contrast between Europe and the United States
reveals. The hard kernel of American Christian faith, not present in
Europe, means that Islamists are far better behaved in the United States.
They see the importance of a Christian counterforce.

TB: Earlier, you mentioned Algeria. It is a big Muslim state that we
don’t hear about today.

DP: Twenty years ago Algeria was a major focus of attention. That long
ago ended, although in France coverage is still significant. Algeria is ripe
for the same kind of upheaval that we have seen in other North African

HOUSE_OVERSIGHT_027122
"
IMAGES-005-HOUSE_OVERSIGHT_019557.txt,"String Puller | 69

nese intelligence services, were not monitoring his communications
with her. It was, however, a chance Snowden was willing to take.

Snowden, in any case, did not intend to conceal his identity for
more than a few months. He told Poitras he had a specific purpose
in allowing her to name him in her ongoing film project. Indeed,
he said it was essential in his plan to prevent others, including pre-
sumably his “most trusted confidante,” from being suspected by law
enforcement of helping him in his enterprise. He prevailed on her
to accommodate his plan, saying, “You may be the only one who
can prevent that, and that is by immediately nailing me to the cross
rather than trying to protect me as a source.” His choice of the imag-
ery of crucifixion suggested that like Jesus Christ he was willing to
sacrifice himself for the sake of others.

In keeping with their operational security arrangement, Snowden
said that he would first send her an encrypted file of documents that
she would not be able to read. Only after his conditions were met and
“everything else is done,” he said, “the key will follow.” He was now
pulling the strings. To get that key, she had to follow his instructions.

© One of his conditions was that she help him recruit Greenwald ©
and other outlets for his disclosures. “The material provided and
the investigative effort required will be too much for any one per-
son,” he wrote to Poitras. He next directed her to contact Greenwald.
“T recommend that at the very minimum you involve Greenwald. I
believe you know him.” (Snowden apparently did not tell her that
he had unsuccessfully attempted to reach out to Greenwald before he
had contacted her.)

His continued interest in Greenwald was understandable. Aside
from Greenwald’s opposition to what he called the “Surveillance
State,” he was a gateway to The Guardian. That publication had
become an important player in the business of disclosing govern-
ment documents by publishing a large part of the U.S. documents
supplied to WikiLeaks, as we have seen. By breaking whistle-
blowing stories about U.S. intelligence, it had also greatly increased
the circulation of its website. As an establishment newspaper, it also
gave these WikiLeaks stories credibility with the media. So despite
Greenwald’s inability to create an encrypted channel, Snowden still
needed him. He had no reason to believe that Greenwald would turn

| | Epst_9780451494566_2p_all_r1.z.indd 69 ® 9/29/16 5:51 Pa | |

HOUSE_OVERSIGHT_019557
"
IMAGES-005-HOUSE_OVERSIGHT_018891.txt,"b7C

Case ID . : 31E-MM-108062 1B8 Barcode
Accepted By:
Printed Name: Signature:
f
Reason:..Collected..... cc ee ee ee ee eee Date/Time: OX 28/204 : | |, Gen
Accepted By:
Printed Name:........... ccc eee cece eee ees Signature: .... ce wwe eee ee eee eee eens
REASON: .. ec ee ee ee eee eee eee eens Date/Time:......... ccc cece eae

~ HOUSE_OVERSIGHT 018891
"
IMAGES-002-HOUSE_OVERSIGHT_014275.txt,"EXHIBIT 4

HOUSE_OVERSIGHT_014275
"
IMAGES-002-HOUSE_OVERSIGHT_012604.txt,"98/36/2007 17:06 FAX 5618021787 USAO HPB FL oos

GERALD LEFCOURT, ESQ.
AUGUST 16, 2007
PAGE 2 OF 2

With respect fo paragraph 7, the information provided regarding the pilots came from the
corporate records of Hyperion and JEGE, Inc., not NES. However, I have provided a shorter list in
the new subpoena attachment.

I also have enclosed another certification for the Custodian of Records’ signature.
Thank you again for your assistance. |
| Sincerely,

R. Alexander Acosta
United States Atotaiey

A. “Marie Villafatia sO
Assistant United States Attomey
( cet B, Nesbitt Kuyrkendall, FBI (with enclosures),

HOUSE_OVERSIGHT_012604
"
IMAGES-005-HOUSE_OVERSIGHT_018649.txt,"MINIMIZING, DENYING AND BLAMING:

* Making light of the abuse and not taking her concerns about it seriously.
* Saying the abuse didn't happen.

* Shifting responsibility for abusive behavior.

* Saying she caused it.

(The original wheel uses gendered language, but I'd like to note that although abuse is
most often perpetrated by men against women, abuse can happen in any kind of
relationship and to people of any gender.)

In the brilliant documentary Graphic Sexual Horror, which profiles a now-defunct
BDSM porn site, there's footage of a scene with a porn model named $4. The dominant
partner slaps S4 across the face, and S4 reacts angrily. She says something like, ""We
didn't talk about that in advance!"" The dominant doesn't apologize; he doesn't take her
seriously, and he doesn't talk to her carefully or work to calm her down. Instead, the
dominant partner snaps: ""We can't talk about everything in advance,” and aggressively
demands to know whether she's ready to continue. This is an example of minimizing,
denying, and blaming.

I have some sympathy for his awkward position -- I've made small mistakes as a
dominant partner, too, and he's correct that it's impossible to talk about everything in
advance. But the way to deal with those mistakes is by apologizing sincerely and
making sure the mistake never happens again. For example, one of my exes really
hated being bitten on the lips, and at one point I bit him on the lower lip. And he called
me out, and I said, ""I'm sorry,” and I put my arms around him to offer comfort; I said, ""I
won't do it again,” and I didn't.

My experience of BDSM relationships is that it's best for there to be both communication
ahead of time -- and lots of discussion and processing afterwards. Both partners get to set
“hard limits"": things they absolutely don't want to do. If one partner has concerns, those
concerns get airtime. Both partners acknowledge a role in the proceedings, and blame
isn't spread around; even if something goes wrong, the discussion focuses on how to
prevent that from happening again rather than making accusations.

And if BDSM is happening, it must be possible to acknowledge it, even if it's subtle. For
example, I ran into a partner on the street the other day; he gave me a hug and held me in
place for a while, even though I tried to move away. This, my friends, is subtle BDSM.
Which was fine with me! But it was only okay because I knew I could call him out on it
later and be sure it was acknowledged!

And I did mention it later, and he did acknowledge it, and we both laughed and said it
was hot. And if I had told him not to do it, that would have been okay too. And the fact
that I knew I could talk about it, that I knew I could tell him not to do it and he'd
listen... meant that I also could have declined to mention it, and I would have felt
fine.

Something else worth acknowledging here is time boundaries. If a person is indeed

HOUSE_OVERSIGHT_018649
"
IMAGES-010-HOUSE_OVERSIGHT_030022.txt,"nbcnews.com / Jane C. Timm and Adam Edelman While the first
10 Democratic candidates hit the debate stage, here are the claims that

hold up and the ones that don't. The first 10 Democratic...

Stealing Clouds

HOUSE_OVERSIGHT_030022
"
IMAGES-001-HOUSE_OVERSIGHT_010724.txt,"Honorable Mark Filip
May 19, 2008
Page 2

By way of background, we were informed by Mr. Acosta that, at his request, CEOS
would be conducting a review to determine whether federal prosecution was both appropriate
and, in his words, “fair.” That is not what occurred. Instead, CEOS has now acknowledged that
we had raised “many compelling arguments” against the USAO’s suggested “novel application”
of federal law in this matter. Even so, CEOS concluded, in minimalist fashion, that “we do not
see anything that says to us categorically that a federal case should not be brought” and that the
U.S. Attorney “would not be abusing his prosecutorial discretion should he authorize federal
prosecution of Mr. Epstein” thus delegating back to Mr. Acosta the decision of whether federal
prosecution was warranted (emphasis added). Rather than assessing whether prosecution would
be appropriate, CEOS, using a low baseline for its evaluation, determined only that “it would not
be impossible to prove .. .” certain allegations made against Mr. Epstein. The CEOS review
failed to address the significant problems involving the appearance of impermissible selectivity
that would necessarily result from a federal prosecution of Mr. Epstein.

We respect CEOS’s conclusion that its authority to review “misconduct” issues was
precluded by Criminal Division practice. We further respect CEOS’s view that it understood its
mission as significantly limited. Specifically, the contemplated objective was to determine
whether the USAO would be abusing its discretion by bringing a federal prosecution rather than
making its own de novo recommendations on the appropriate reach of federal law. However, we
respectfully submit that a full review of all the facts is urgently needed at senior levels of the
Justice Department. In an effort to inform you of the nature of the federal investigation against
Mr. Epstein, we summarize the facts and circumstances of this matter below.

The two base-level concerns we hold are that (1) federal prosecution of this matter is not
warranted based on the purely-local conduct and the unprecedented application of federal
statutes to facts such as these and (2) the actions of federal authorities are both highly
questionable and give rise to an appearance of substantial impropriety. The issues that we have
raised, but which have not yet been addressed or resolved by the Department, are more than
isolated allegations of professional mistakes or misconduct. These issues, instead, affect the
appearance and administration of criminal justice with profound consequences beyond the
resolution in the matter at hand.

* , * *

_ In a precedent-shattering investigation of Jeffrey Epstein that raises important policy
questions—and serious issues as to the fair and honorable enforcement of federal law—the
USAO in Miami is considering extending federal law beyond the bounds of precedent and
reason. Federal prosecutors stretched the underlying facts in ways that raise fundamental
questions of basic professionalism. Perhaps most troubling, the USAO in Miami, as a condition
of deferring prosecution, required a commingling of substantive federal criminal law with a
proposed civil remedy engineered in a way that appears intended to profit particular lawyers in

HOUSE_OVERSIGHT_010724
"
IMAGES-002-HOUSE_OVERSIGHT_013095.txt,"10.3 Steps Toward A (Formal) General Theory of General Intelligence 179

10.3 Steps Toward A (Formal) General Theory of General Intelligence

Now begins the formalism. At this stage of development of the theory proposed in this chapter,
mathematics is used mainly as a device to ensure clarity of expression. However, once the theory
is further developed, it may possibly become useful for purposes of calculation as well.

Suppose one has any system S (which could be an AI system, or a human, or an environment
that a human or AI is interacting with, or the combination of an environment and a human or
Al’s body, etc.). One may then construct an uncertain transition graph associated with that
system 5, in the following way:

e The nodes of the graph represent fuzzy sets of states of system S' (I'll call these state-sets
from here on, leaving the fuzziness implicit)

e The (directed) links of the graph represent probabilistically weighted transitions between
state-sets

Specifically, the weight of the link from B to A should be defined as

P(o(S, A, t(T))|o(S, B, T))

where

o(S, A, T)

denotes the presence of the system S in the state-set A during time-distribution 7, and f¢() is
a temporal succession function defined so that ¢(7') refers to a time-distribution conceived as
""after"" T. A time-distribution is a probability distribution over time-points. The interaction of
fuzziness and probability here is fairly straightforward and may be handled in the manner of
PLN, as outlined in subsequent chapters. Note that the definition of link weights is dependent
on the specific implementation of the temporal succession function, which includes an implicit
time-scale.

Suppose one has a transition graph corresponding to an environment; then a goal relative to
that environment may be defined as a particular node in the transition graph. The goals of a
particular system acting in that environment may then be conceived as one or more nodes in
the transition graph. The system’s situation in the environment at any point in time may also
be associated with one or more nodes in the transition graph; then, the system’s movement
toward goal-achievement may be associated with paths through the environment’s transition
graph leading from its current state to goal states.

It may be useful for some purposes to filter the uncertain transition graph into a crisp
transition graph by placing a threshold on the link weights, and removing links with weights
below the threshold.

The next concept to introduce is the world-mind transfer function, which maps world (envi-
ronment) state-sets into organism (e.g. AI system) state-sets in a specific way. Given a world
state-set W, the world-mind transfer function MZ maps W into various organism state-sets with
various probabilities, so that we may say: M(W) is the probability distribution of state-sets the
organism tends to be in, when its environment is in state-set W. (Recall also that state-sets are
fuzzy.)

Now one may look at the spaces of world-paths and mind-paths. A world-path is a path
through the world’s transition graph, and a mind-path is a path through the organism’s transi-

HOUSE_OVERSIGHT_013095
"
IMAGES-010-HOUSE_OVERSIGHT_029573.txt,"From: J [jeevacation@gmail.com]

Sent: 11/25/2018 11:56:06 PM
To: Elisa New
Subject: Re: invitation

count how many times you say I or me?

On Sun, Nov 25, 2018 at 7:30 PM Lisa New <> wrote:

Jeffrey,
How's this

On Sun, Nov 25, 2018 at 11:05 AM J <jeevacation@gmail.com> wrote:
Needs edit. Start with id like you to join clinton ..eyc

On Sun, Nov 25, 2018 at 10:52 AM Lisa New - —«§ wrote:

Dear Jeffrey,

Here is an invitation you can forward. Fingers crossed.

I'm going upstairs to hunt for my copy of Lolita, or will get on my kindle and reread on our way to
Australia. I may have lent it to one of my kids. I would recommend reading My Antonia by Cather next
time you're on a long plane trip. The prose is gorgeous, and the book has-- come to think of it-- similar
themes to Lolita in that it's about a man whose whole life is stamped forever by his impression of a young
girl.

Thank you for this help with Serena. I'm so sorry about what happened with WA. I will keep the ""bootleg""
episode and hope to release someday. It's so good, and he was so kind to read the poem with me and you
were so kind to make it happen.

Lisa

Elisa New

Powell M. Cabot Professor of American Literature
Director, Poetry in America

Harvard University

148 Barker Center

12 Quincy Street

Cambridge, MA

02138

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

HOUSE_OVERSIGHT_029573
"
IMAGES-011-HOUSE_OVERSIGHT_031775.txt,"From: DAVID SCHOEN

Sent: 3/22/2019 12:11:49 PM
To: jeevacation@gmail.com
Subject: Mueller’s Star Witness Against Trump Once Arrested For Child Porn, Hung Out With Pedos Clinton And Epstein

(Photo) — Tea Party Pac

Importance: — High

This nut site today has you as an informant for mueller and as being friends with another informant,
Nadler. I assume they don’t realize they are undercutting their friend in the white House as well Re:
Acosta and the Prez himself. I ordinarily would not send a whacko site but this one gets a lot of play.

https: //teapartypac.org/muel lers-star-witness-against-trump-once-arrested-for-chi ld-porn-hung-out-wi th-
pedos-clinton-and-epstein-photos/

HOUSE_OVERSIGHT_031775
"
IMAGES-001-HOUSE_OVERSIGHT_012133.txt,"KIRKLAND & ELLIS LLP

John Roth, Esq.
June 19, 2008
Page 4

It thus is especially troubling that the USAO has not provided us with the transcript of
Ms. *s federal interview, nor the substance of the interviews with Vs. or Ms.
, hor any information generated by interviews with any of the approximately 40 alleged
witnesses that the prosecution claims it has identified. Because the information provided by
these women goes directly to the question of Mr. Epstein’s guilt or innocence, it is classic Brady
information. We understand that the U.S. Attorney might not want to disclose impeachment
information about their witnesses prior to a charge or during plea negotiations. But we firmly
believe that when the Government possesses information that goes directly to a target’s factual
guilt or innocence, the target should be informed about such heartland exculpatory evidence.

Most importantly, aside from whether the Department believes Brady obligates
disclosure to a target of a federal investigation prior to the target’s formal accusation, no such
limit should apply to a Department review. Accordingly, we request that you go beneath the face
of any summary provided to you by the USAO and instead review the actual witness transcripts
and FBI 302s, which are essential for you to be able to make a truly independent assessment of
the strength and wisdom of any federal prosecution.

After careful consideration of the record, and as much as it pains me to say this, I simply
do not believe federal prosecutors would have been involved at all in this matter if not for Mr.
Epstein’s personal wealth and publicly-reported ties to former President Bill Clinton. A simple
Internet search on Mr. Epstein reveals myriad articles and news stories about the former
President’s personal relationship with Mr. Epstein, including multi-page stories in New York
Magazine and Vanity Fair. Mr. Epstein, in fact, only came to the public’s attention a few years
ago when he and the former President traveled for a week to Africa (using Mr. Epstein’s
airplane)}—a trip that received a great deal of press coverage. I cannot imagine that the USAO
ever would have contemplated a prosecution in this case if Mr. Epstein lacked this type of
notoriety.

That belief has been reinforced by the significant prosecutorial impropriety and
misconduct throughout the course of this matter. While we describe the majority of these
irregularities in another submission, two instances are particularly troubling. First, the USAO
authorized the public disclosure of specific details of the open investigation to the New York
Times—including descriptions of the prosecution’s theory of the case and specific terms of a plea
negotiation between the parties. Second, AUSA Villafana attempted to enrich friends and close
acquaintances by bringing them business in connection with this matter. Specifically, she
attempted to appoint a close personal friend of her live-in boyfriend to serve as an attorney-
representative for the women involved in this case.

It also bears mentioning that actions taken by FAUSA Sloman present an appearance of
impropriety that gives us cause for concern. Mr. Sloman’s former law partner is currently
pursuing a handful of $50-million lawsuits against Mr. Epstein by some of the masseuses.

HOUSE_OVERSIGHT_012133
"
IMAGES-006-HOUSE_OVERSIGHT_021927.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

104

It depicted Glen Maxwell, Prince Andrew and
Virginia Roberts, and at the time that it looked like
Virginia Roberts was an underage girl, she was not
dressed in formal attire. And Prince Andrew had his arm
around her, I think if memory serves, and right next --
smiling in the background is Miss Maxwell, and it
appeared that that was a private residence presumably in
London close to Buckingham Palace where Prince Andrew
lived.

So here was Prince Andrew with this underage
girl with Glen Maxwell, the right-hand girl, if that's
the right expression. I probably should say -- strike
that -- right-hand woman of Mr. Epstein, that were there
and somebody had taken the photograph.

Given the surrounding circumstances, I
thought perhaps Mr. Epstein had taken the photograph.

So that would have shown Virginia Roberts's sexual abuse
was not confined just to Florida, not confined to the
New York mansion, it would have -- it would have
presumably continued into London where one of, you know,
the highest, most powerful persons in the governmental
structure that exists in England was now involved in
sexual abuse.

And so that created grave concern about, how

far did this sex trafficking ring reach, what were their

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021927

"
IMAGES-008-HOUSE_OVERSIGHT_025195.txt,"From: jeffrey E. [jeevacation@gmail.com]

Sent: 5/28/2017 11:43:17 PM
To: LHS
Subject: Re: Is Donald still feeling good

Importance: — High

your world does not understand how dumb he really is. he will blame everyone around him. for bad results.
. gary cohn in good place. . as is jared. all others , not long for this world.. intresting argument whether
using whats app is obstruction of justice. deletes after sending. ?

On Sun, May 28, 2017 at 7:36 PM, LHS <i > wrote:

More would represent Donald if Kaslowitz out of picture. Not surprising. very hard to be law firm
representing POTUS and know what to do when potus lies to u.

My world thinks poorly of Gorelick for representing Jared.
How guilty is Donald?

Of crudity surely

Of gross ignorance surely

Of being utterly without the intellect temperament for job surely

Of being over line on family profiting very likely

Of gross disregard for appearances almost surely.

Of Russians having financial leverage. Less clear

Of Russians helping in. Election w complicity of his campaign plausible but not certain

Strikes me if u work for Donald u don't free lance so he is guilty of whatever his campaign did.
Do u agree w foregoing?
Sent from my iPad

Please direct all scheduling inquiries to my office at: Pe

Follow me on twitter @lhsummers
www.larrysummers.com

From: jeffrey E. <jeevacation@gmail.com>
Sent: Sunday, May 28, 2017 7:28 PM
Subject: Re: Is Donald still feeling good
To: LHS <

wild, there will be some changes this week.. funny but kaslowitz is getting turned down repeatedly , by
firms unwilling to represent donald.

On Sun, May 28, 2017 at 7:22 PM, LHS i wrote:

R ustill plugged in to the show?

HOUSE_OVERSIGHT_025195
"
IMAGES-006-HOUSE_OVERSIGHT_021099.txt,"Photo: George Rose/Getty Images

Broadcom has adjusted its takeover offer for Qualcomm to $79 per share, down from
the its “best and final” bid of $82. The move is a response to Qualcomm's
announcement yesterday it would pay $127.50 a share for NXP, up from the $110 it
had offered.

° Why it's the BFD: Broadcom and Qualcomm's takeover dance has taken a
dramatic turn for what should have been a boring transaction between two chip
companies.

° Bottom line: ""Broadcom has long said its acquisition of the San Diego-based
chipmaker is contingent on Qualcomm buying NXP at the previously agreed price,
saving a large amount of cash Broadcom could hypothetically use for its own purposes
once the acquisition goes through... Qualcomm raised its NXP bid to secure support
from activist investors who have piled into NXP and demanded a higher sale price."" —

Bloomberg.

HOUSE_OVERSIGHT_021099
"
IMAGES-011-HOUSE_OVERSIGHT_031013.txt,"a distance ata Chicago Bears Football Game.""

Rod Blagojevich, Barack Obama and Richard Daley during a rally in Chicago, April

16, 2007. (Photo Reuters )

To understand the next 4 years, you have to understand the world according to Chicago ...
While Chicago isacityin [Illinois , it is almost a completely different country when

it comes to politics, with a whole different set of morals and language.

There are only three rules and a Prime Directive which anybody can understand. You don't
even need an attorney to understand them --and if you need an attorney, well, you know too
much...so look out for Rule #3!

RULE #1...No matter what you see, hear, or do --you don't know anybody and you don't
know nothing!

RULE #2...If you capture something on tape or camera -- it doesn't reveal nothing!

RULE #3...1f you know what everybody knows in Chicago --well, you sti//l don't know
nothing.

The PRIME DIRECTIVE in CHICAGO ...No matter what the vote Democrats win
the election. Now pay close attention!

It's very simple....we'll illustrate. Remember, you know nothing.

These two? They don't know each other! They said they didn't.

HOUSE_OVERSIGHT_031013
"
IMAGES-003-HOUSE_OVERSIGHT_015913.txt,"Turing’s Machine 223

Old Fashioned Relay Mechanism

the button to go down. That logic did not exist in the relay banks. If you
wanted to improve the logic of the elevator you would need to rip out all
the relays and rewire everything from scratch.

Turing’s first imaginary machine was set up in the same way. It
had a fixed set of hard-wired logic, a rule book. In order to perform
different tasks — say addition or multiplication you had to use a different
rule book. His revolutionary idea was to write a rule book that told
the machine to read a soft-wired set of instructions from the tape and
execute those instead. He called this a Universal machine since it could
perform any procedure written on the tape. Today we call this software.
It is fair to say Turing was not the first to use this idea. Charles Babbage’s
analytical engine could read instructions from cards and execute
different procedures, but Turing thought through all the ramifications
of the idea and made it general purpose, giving us the modern science
of computing. It is easy to build a real Turing machine, but by today’s
standards it is a little clumsy; a team in Denmark has built one using
Lego. You can see a link on my website.

Very soon after Turing’s paper was published, a number of people
proposed better practical implementations. In 1943, John von Neumann
of Princeton University created the architecture for ENIAC, the first
stored program computer, developed for the United States Army’s Ballistic

HOUSE_OVERSIGHT_015913
"
IMAGES-010-HOUSE_OVERSIGHT_029215.txt,"Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
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including all attachments. copyright -all rights reserved

please note
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confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
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communication in error, please notify us immediately by
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Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
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HOUSE_OVERSIGHT_029215
"
TEXT-002-HOUSE_OVERSIGHT_033074.txt,"From: jeffrey E. [jeeyacation@gmail.com] 
Sent: 3/4/2018 11:45:02 AM 
To: Sultan Bin Sulayem 
Subject: Re: Joe cinque 
never heard off him. donald is close to no one. . he talks to many people. he tells each one something 
differnt. 
On Sun, Mar 4, 2018 at 5:29 AM, Sultan Bin Sulayem <1=I=1> wrote: 
Do you know him I heard he is so close to trump 
Sent from my iPhone 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
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including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 033074 
"
IMAGES-005-HOUSE_OVERSIGHT_019966.txt,"8

ORG CHART

he White House, realized former naval officer Steve Bannon after a few weeks, was
""LT really a military base, a government-issue office with a mansion’s fagade and a few
ceremonial rooms sitting on top of a secure installation under military command. The
juxtaposition was striking: military hierarchy and order in the background, the chaos of
the temporary civilian occupants in the fore.

You could hardly find an entity more at odds with military discipline than a Trump
organization. There was no real up-and-down structure, but merely a figure at the top and
then everyone else scrambling for his attention. It wasn’t task-based so much as response-
oriented—whatever captured the boss’s attention focused everybody’s attention. That was
the way in Trump Tower, just as it was now the way in the Trump White House.

The Oval Office itself had been used by prior occupants as the ultimate power symbol,
a ceremonial climax. But as soon as Trump arrived, he moved in a collection of battle
flags to frame him sitting at his desk, and the Oval immediately became the scene of a
daily Trump cluster-fuck. It’s likely that more people had easy access to this president than
any president before. Nearly all meetings in the Oval with the president were invariably
surrounded and interrupted by a long list of retainers—indeed, everybody strove to be in
every meeting. Furtive people skulked around without clear purpose: Bannon invariably
found some reason to study papers in the corner and then to have a last word; Priebus kept
his eye on Bannon; Kushner kept constant tabs on the whereabouts of the others. Trump
liked to keep Hicks, Conway, and, often, his old Apprentice sidekick Omarosa Manigault
—now with a confounding White House title—in constant hovering presence. As always,
Trump wanted an eager audience, encouraging as many people as possible to make as
many attempts as possible to be as close to him as possible. In time, however, he would
take derisive notice of those who seemed most eager to suck up to him.

Good management reduces ego. But in the Trump White House, it could often seem
that nothing happened, that reality simply did not exist, if it did not happen in Trump’s
presence. This made an upside-down kind of sense: if something happened and he wasn’t
present, he didn’t care about it and barely recognized it. His response then was often just a

HOUSE_OVERSIGHT_019966
"
TEXT-001-HOUSE_OVERSIGHT_029280.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 12/12/2016 7:52:15 PM 
To: Joi Ito 
Subject: Re: From Politico Magazine 
talk to danny hillis he had some legisative ideas 
On Mon, Dec 12, 2016 at 1:26 PM, Joi Ito <___________________ wrote: 
Any ideas? 
Begin forwarded message: 
From: Margaret Slattery 
Subject: From Politico Magazine 
Date: November 28, 2016 at 3:04:51 PM CST 
To:"" 1___________________________ 
Dear Joi, 
Hello, I'm writing from Politico Magazine, where we're working on a special package of stories timed to Donald Trump's 
inauguration in January, and I wondered if you would be interested in contributing. 
As he prepares to take office, our plan is to publish a handful of out-of-the box ideas for President Trump, suggested by 
writers and thinkers from a variety of fields and ideological positions. Whether the idea has to do with politics, policy, 
personnel or governing style, we're looking for suggestions that are specific and, above all, surprising; something inventive if 
slightly far-fetched is better than a pet cause or a well-trod policy proposal. (This exercise doesn't require that you support or 
even agree with Trump, but it does require a willingness to engage.) 
Do you have an idea along these lines that you wish the new president would consider, whether something in economics or 
otherwise? If so, I'd love to hear, and we can discuss next steps from there. Ultimately, we're aiming to publish a handful of 
short pieces (about 800 words each) as a package of proposals. 
Many thanks, and please let me know if you have questions. 
Margy Slattery 
Deputy Editor, Politico Magazine 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
HOUSE OVERSIGHT 029280 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
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including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 029281 
"
IMAGES-010-HOUSE_OVERSIGHT_029201.txt,"my name is Michael Braun and | am working on the DAI Heidelberg’s fall program brochure.

May | ask you if you settled on a topic for your Heidelberg talk?

If so, could you send me title and a short abstract for me to include in the brochure and on our website?

Best
Michael

Mit besten Griiwen

Michael Braun .

Referent flr Presse- und Offentlichkeitsarbeit
Deutsch-Amerikanisches Institut Heidelberg

- Das Haus der Kultur -

Sofienstrake 12, 69115 Heidelberg

tel:
fax:

www.dai-heidelberg.de

Schurman-Gesellschaft e.V.
VR 425 Amts- und Registergericht Heidelberg

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
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please note
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Unauthorized use, disclosure or copying of this

HOUSE_OVERSIGHT_029201
"
IMAGES-002-HOUSE_OVERSIGHT_014088.txt,"Case 9:08-cv-80736-KAM Document 319-1 Entered on FLSD Docket 03/24/2015 Page 5 of 34

Dershowitz can’t have it both ways — simultaneously claiming he has the records and that he is
harmed in collecting them — and the Court should not credit his conflicting positions.
CONCLUSION
The Court should deny Dershowitz’s motion to intervene.

DATED: March 24, 2015

Respectfully Submitted,

/s/ Bradley J. Edwards
Bradley J. Edwards

FARMER, JAFFE, WEISSING,
EDWARDS, FISTOS & LEHRMAN, P.L.
425 North Andrews Avenue, Suite 2

Fort Lauderdale, Florida 33301

Telephone (954) 524-2820

Facsimile (954) 524-2822

E-mail: brad@pathtojustice.com

And

Paul G. Cassell

Pro Hac Vice

S.J. Quinney College of Law at the
University of Utah""

332 S. 1400 E.

Salt Lake City, UT 84112

Telephone: 801-585-5202

Facsimile: 801-585-6833

E-Mail: cassellp@law.utah.edu

Attorneys for Jane Does No. 1, 2, 3 and 4

” This daytime business address is provided for identification and correspondence
purposes only and is not intended to imply institutional endorsement by the University of Utah
4

HOUSE_OVERSIGHT_014088
"
TEXT-001-HOUSE_OVERSIGHT_030909.txt,"From: Lawrence Krauss 
Sent: 4/6/2011 11:42:24 PM 
To: Jeffrey Epstein [jeeyacation@gmail.com] 
Subject: Re: Statement in the Daily Beast? 
Importance: High 
Here is my response to the hundreds who are now attacking me on the web: 
I will add one remark here, as most people have not read my full set of comments, posted after the post 
appeared.. I am myself rather disappointed by the lack of skepticality of this community. As I said, I have read 
numerous reports of orgies on Jeffrey's island involving me and other scientists during our meetings.. Orgies 
that never happened, I am VERY skeptical of other claims on his behavior. I am defending Jeffrey for 2 
reasons: (1) Based on my knowledge and experience I am skeptical of the claims in the media and of those who 
have settled claims for money... namely I don't believe the published details just like I tend to be skeptical of 
many published details on the internet.. I don't believe Jeffrey did what has been claimed, and unless I see hard 
evidence, I will trust my own judgement here, and (2) Jeffrey went to prison, and I happen to believe that 
having served time, even those who questioned his behavior should be willing to give him the benefit of the 
doubt, again until proved otherwise, that he is working hard to live a good life and do good things. I for one am 
disgusted that people eat up the salacious nonsense the read on the web and then jump to conclusions about 
things and people they do not know.. I do not jump to condemn people, especially when it concerns their sexual 
preferences. I DO NOT CONDONE sex with young girls, or young boys for that matter.. because there are real 
victims there.. Until I know all the facts however, I do not jump to conclusions, and I am sorry, having seen the 
media frenzy around Jeffrey, and having seen the shoddy behavior of those who have attacked him, I remain 
skeptical, and I support a man whose character I believe I know.. If you want to condemn me for that, so be it. 
L. Krauss 
On Apr 6, 2011, at 3:56 PM, Jeffrey Epstein wrote: 
what evidence? no real sex.. where is she getting her so called facts 
On Thu, Apr 7, 2011 at 12:18 AM, Lawrence Krauss wrote: 
Beyond anything else, you are my friend. I hope we can both always remember that, no matter what. 
Are you coming this weekend at all? 
Lawrence Krauss 
Foundation Professor 
School of Earth and Space Exploration and Physics Dept. 
Co-director, Cosmology Initiative 
and Director, Origins initiative 
Arizona State University 
Sent from my iPhone 
On Apr 6, 2011, at 3:15 PM, Jeffrey Epstein <jeevacation@gmail.com> wrote: 
no it was appreciated. thanks 
On Wed, Apr 6, 2011 at 11:31 PM, Lawrence Krauss wrote: 
HOUSE OVERSIGHT 030909 
just so you know.. you can read from bottom up.. you may be mad that I was blunt... haven't heard from 
you.. hope all is well.. 
Begin forwarded message: 
From: Rebecca Watson 
Date: April 6, 2011 10:28:36 AM MST 
To: Lawrence Krauss 
Subject: Re: Statement in the Daily Beast? 
Okay, will do. 
On Wed, Apr 6, 2011 at 1:27 PM, Lawrence Krauss___________________wrote: 
ok.. I just sent an additional email which moderates this.. everyone was a victim, including Jeffrey here.. 
and there was no happy resolution.. please add.. ""probably everyone was a victim, with no happy resolution 
or consequences of these activities"", after ""was the victim in this case."". 
On Apr 6, 2011, at 10:18 AM, Rebecca Watson wrote: 
Okay, thanks for this statement . . . I'll print it in full along with the article, probably today. I very, very 
strongly disagree with your position and hope you eventually reconsider, but I do appreciate you taking the 
time to respond. 
-R 
On Wed, Apr 6, 2011 at 1:15 PM, Lawrence Krauss ________________ wrote: 
jeffrey apparently paid for massages with sex... I believe him when he told me he had no idea the girls were 
underage, and I doubt that people normally are asked for or present a driver's license under such 
circumstances... Moreover, I also believe that Jeffrey is an easy target for those who want to take advantage 
of him... Moreover, I can say with great honesty that Jeffrey's time in prison led him to seriously examine 
his life in very positive ways and I don't believe in blanket condemnations of people. He served time for 
something that was determined was inappropriate. I honestly don't know who was the victim in this case. I 
fully expect that these masseuses knew what they were doing, and were not swayed to do anything with 
Jeffrey that they were not already doing. That is not to approve of the whole behavior, but lots of peopleI 
know and like have behavior I don't entirely approve of. I know it is not politically correct to say that, 
because in general this is a very sensitive issue and all other things being equal one should take the side of 
the young women. But all things are not equal in this case, from my point of view. It is a judgement call, 
and I will not turn my back on a good friend so easily. 
On Apr 6, 2011, at 9:57 AM, Rebecca Watson wrote: 
HOUSE OVERSIGHT 030910 
Thanks for getting back to me. I was asking because I found the quote shocking . . . the evidence against 
Epstein is overwhelming and he's even pled guilty to paying for sex with a minor. It's in no way scientific or 
rational to assume that because you never saw him with an underage girl he must actually be innocent. It is 
possible for a person to be kind and generous with his friends but still a criminal paying for sex with 
underage girls in his private life. 
I'm going to write about the topic on Skepchick, and I'll include any additional statement you'd like if you 
want to provide more context or if you've changed your mind. 
-R 
On Wed, Apr 6, 2011 at 12:50 PM, Lawrence Krauss wrote: 
yes it is.. Based on my direct experience with Jeffrey, which is all I can base my assessment on, he is a 
thoughtful, kind, considerate man who is generous to his friends, and all of the women I have known who 
have been associated with Jeffrey speak glowingly in the same words.. 
why are you asking? 
On Apr 6, 2011, at 9:41 AM, Rebecca Watson wrote: 
Dear Professor Krauss, 
We met briefly after your talk in Ithaca a few months ago — I'm the girl on The Skeptics' Guide to the 
Universe podcast. I've really enjoyed your talks and books, but I was surprised to see you quoted in the 
Daily Beast recently defending Jeffrey Epstein: 
http://www.thedailybeast.com/blogs-and-stories/2011-04-01/bill-clinton-katie-couric-woody-allen-jeffrey-
epsteins-society-friends-close-ranks/2/  
Can you confirm if the following quote is accurate? 
""If anything, the unfortunate period he suffered has caused him to really think about what he wants to do 
with his money and his time, and support knowledge,"" says Krauss. ""Jeffrey has surrounded himself with 
beautiful women and young women but they're not as young as the ones that were claimed. As a scientist I 
always judge things on empirical evidence and he always has women ages 19 to 23 around him, but I've 
never seen anything else, so as a scientist, my presumption is that whatever the problems were I would 
believe him over other people."" Though colleagues have criticized him over his relationship with Epstein, 
Krauss insists, ""I don't feel tarnished in any way by my relationship with Jeffrey; I feel raised by it."" 
Thanks, 
Rebecca Watson 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
HOUSE OVERSIGHT 030911 
I 
i 
School of Earth and Space Exploration 
PO Box 871404 I Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst_____________ 
Origins Asst ______________________ 
I, 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
PO Box 871404 I Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst 
Origins Asst 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
PO Box 871404 I Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst 
Origins Asst 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
Co-Director, Cosmology Initiative 
HOUSE OVERSIGHT 030912 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
PO Box 871404 I Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu  
Exec. Asst__ 
Origins Asst 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
--
*********************************************************** 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
Jeffrey Epstein 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
Lawrence M. Krauss 
Foundation Professor 
Director, The ASU Origins Project 
HOUSE OVERSIGHT 030913 
Co-Director, Cosmology Initiative 
Assoc. Dir, Beyond Center 
ARIZONA STATE UNIVERSITY 
College of Liberal Arts and Sciences 
School of Earth and Space Exploration 
PO Box 8714041 Tempe AZ 85287-1404 
http://krauss.faculty.asu.edu 
Exec. Asst 
Origins Asst 
HOUSE OVERSIGHT 030914 
"
TEXT-001-HOUSE_OVERSIGHT_019343.txt,"From: jeffrey E. [jeevacation@gmail.com] 
Sent: 7/23/2018 3:32:23 PM 
To: Steve Bannon I 
Subject: Re: Fw: 
available now? 
On Mon, Jul 23, 2018 at 3:50 PM, Steve Bannon < > wrote: 
On Jul 23, 2018, at 9:49 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
We can talk about at your convenience 
On Mon, Jul 23, 2018 at 1:07 PM Steve Bannon <__________________> wrote: 
Agree 100% 
How do I do that??? 
American Carnage amazing -- An Emmanual financed it and he loves it---Erolls besties tell him it will end 
his career because he gave a platform to a monster 
Officially in Venice, Toronto and New York Film Festival 
Skipping telluride 
On Jul 23, 2018, at 6:57 AM, jeffrey E. <jeevacation@gmail.com> wrote: 
its doable , but time consuming, there are many leaders of countries we can organize for you to have one on 
ones. however. you will have to come , stay 8 -10 days. , then no more than two weeks later. the 
same. The fear is that you gin up their hopes and emotions and then abandon them. I think you want to be an 
insider, not an outsider flying in and out. did you get the first cut of american carnage?.? 
On Mon, Jul 23, 2018 at 2:19 AM, Steve Bannon ‘c> wrote: 
Yes 
Sent via BlackBerry by AT&T 
From: ""jeffrey E."" <jeevacation@gmail.com> 
Date: Mon, 23 Jul 2018 02:02:16 +0200 
To: 
Subject: Re: Fw: 
If you are going to play here , you'll have to spend time, europe by remote doesn't work Lots and lots of 
face time and hand holding 
On Mon, Jul 23, 2018 at 1:58 AM jeffrey E. <jeevacation@gmail.com> wrote: 
Hicks? 
On Mon, Jul 23, 2018 at 1:57 AM Steve Bannon < 
Abandon Hope, All Ye Who Enter 
Sent via BlackBerry by AT&T 
> wrote: 
HOUSE OVERSIGHT 019343 
From: ""jeffrey E."" <jeevacation@gmail.com> 
Date: Mon, 23 Jul 2018 01:51:58 +0200 
To: , 
Subject: Re: Fw: 
9th circle 
On Mon, Jul 23, 2018 at 1:26 AM Steve Bannon < > wrote: 
Sent via BlackBerry by AT&T 
From: Benjamin Harnwell < 
Date: Sun, 22 Jul 2018 22:01:54 +0200 
To: Steve Bannon<> 
Subj ect: Re: 
Bannon the European: He's opening the populist fort in Brussels 
The former Trump strategist arrives in Europe with ""The Movement"". Objective: an alliance 
between right-wing leaders, from Salvini to Orban in view of the 2019 elections 
NEW YORK. The invasion of Europe has begun. Steve Bannon, 65, the American far-right guru 
who was Donald Trump's right-hand man in the White House — but let go last summer following 
the racist violence in Charlottesville — is preparing to march on Brussels. Launching, he told the 
Daily Beast himself, a new non-profit foundation called The Movement, (II Movimento), right in 
the heart of Europe and its institutions. Through which he hopes to coordinate the populist right in 
view of the European elections which will be held in spring 2019. 
Objective: to compete with George Soros, the American billionaire of Hungarian origin, benefactor 
of the Democratic party, who since 1984 with his Open Society has spent at least $32 billion in 
support of NGOs dealing with human rights. And for this he became the bogeyman of the populist 
right, accused of plots of all kinds: including that of wanting to replace Italians with immigrants in 
order to have labour at low cost. A mantra repeated in the past on Twitter also by the current 
Minister of the Interior Matteo Salvini. 
The ambition of Steve Bannon, former director of the alt-right American site Breitbart — which in 
the European campaign preceded him since the platform had already opened bureaux in London 
and Rome — is therefore to become the coordinator of the one great ""populist international"" of 
which he has long since been dreaming. 
The Movement, in fact, intends to function as an extreme right-wing think tank: a source of 
strategic advice to channel the not-so-politically structured discontent of the most extreme 
European movements. Analysing data and giving strategic advice. But also by raising funds and 
channeling funding. 
The aim is to create a populist alliance, a sort of ""super group"" that if victorious can conquer up to a 
third of the European Parliament in the elections next May. 
Indeed — putting the common policy of the Old Continent in the hands of Bannon and his own. 
The American strategist is very attached to the Freedom Caucus — the extreme right of the US 
Congress — and in 2014 he was at the top of the Cambridge Analytica company, which in 2016 
HOUSE OVERSIGHT 019344 
used data stolen from Facebook to try to influence the presidential election from which Donald 
Trump emerged victor. It is not a mystery that for a long time he courts nationalists of the right 
from East to West. And he has already met, among others, the Hungarian Orban, the French Marine 
Le Pen and the former leader of the British separatists Nigel Farage. The latter reappeared, 
coincidentally, on Friday in Pennsylvania, USA, to a fundraiser in favor of the Republican 
congressman Lou Barletta. Without forgetting the Italians of Lega and 5 stars. Of them, he said: ""If 
it works in Italy, we can import the model anywhere"". 
The Movement, which for now will count on a staff of 10 people, will be fully operational in 2019. 
In short, after the American midterm elections, where Bannon is fighting to influence the primaries 
supporting candidates potentially able to undermine the prospects of Republican establishment. But 
in the future the former spin doctor says he wants to spend more and more time in Europe. Also 
because the relationships with Trump have worsened after the revelations he made to Michael 
Wolff and published in the scandal book ""Fire and Fury"". ""Better to reign in Hell than to serve in 
Paradise,"" Bannon says now paraphrasing the Satan of one of his favorite books, John Milton's Lost 
Paradise. Hell in this case would be the dear old Europe and its democratic values. The ""army of 
darkness"" is already among us. 
In Sacratissimo Corde Iesu et Purissimo Corde Mariae et Castissimo Corde Ioseph. 
******* 
Benjamin Harnwell 
Founder and President of the Board of Trustees 
Dignitatis Humanae Institute 
Cell: 
Office: 
Istituto Dignitatis Humanae 
44 Via delle Foripci  
Roma 00165  
ITALY  
@ben harnwell 
www.dignitatishumanae.com 
II giorno 22 lug 2018, alle ore 15:38, Steve Bannon > ha scritto: 
What does this say??? 
Begin forwarded message: 
HOUSE OVERSIGHT 019345 
From: Maria Luisa <______________________ 
Date: July 22, 2018 at 9:11:58 AM EDT 
To: Steve Bannon IMII>, Preate Alexandra <_______________________> 
<PHOTO-2018-07-22-10-02-17.jpg> 
Sent from my iPhone 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
HOUSE OVERSIGHT 019346 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
please note 
The information contained in this communication is 
confidential, may be attorney-client privileged, may 
constitute inside information, and is intended only for 
the use of the addressee. It is the property of 
JEE 
Unauthorized use, disclosure or copying of this 
communication or any part thereof is strictly prohibited 
and may be unlawful. If you have received this 
communication in error, please notify us immediately by 
return e-mail or by e-mail to jeevacation@gmail.com, and 
destroy this communication and all copies thereof, 
including all attachments. copyright -all rights reserved 
HOUSE OVERSIGHT 019347 
"
IMAGES-001-HOUSE_OVERSIGHT_011348.txt,"10

id.

12

13

14

L5

16

ne)

18

life)

20

21

22

23

24

25

45
H3VOGIU1

THE COURT: I've read it.

1a

MS. MENNINGER: -- Sharon Churcher.

THE COURT: Yes, I've read it.

MS. MENNINGER: Okay. It's the one in which

Ms. Giuffre, on March 5th, 2011, gave a long and lengthy

interview to Sharon Churcher describing her experience on the

island with Bill Clinton, with Al Gore, with Al Gore's wife,

with all kinds of famous people. And the island event featur
large and media coverage. If you notice the date of that
article, your Honor, it's March 5th, 2011.

The next document I provided is a press statement
issued by Ghislaine Maxwell on March 10th, 2011, so five days

later, in which she writes, care of her attorneys, ""Ghislaine

Maxwell denies the various allegations about her that have
appeared recently in the media. These allegations are all
entirely false.""

Your Honor, the last document I would like to direct
your attention to -- by the way, after Ms. Maxwell published

this press release, Virginia Roberts did not sue her, she did

not claim that she had been emotionally distressed or injured

by being called, essentially, a liar in this particular press

release. And also, with respect to the Bill Clinton article,
your Honor, the evidence at trial will show a substantial
number of emails between Virginia Roberts and Ms. Churcher

contemporaneous with this article. In none of them does she

SOUTHERN DISTRICT REPORTERS, P.C.
(212) 805-0300

HOUSE_OVERSIGHT_011348
"
IMAGES-005-HOUSE_OVERSIGHT_019972.txt,"This devolved into a further rationalization, or Trump truth: “The president was very
clear on what he wanted to deliver to the American public,” said Walsh. He was “excellent
in communicating this.” At the same time, she acknowledged that it was not at all clear in
any specific sense what he wanted. Hence, there was another rationalization: Trump was
“inspirational not operational.”

Kushner, understanding that Bannon’s white board represented Bannon’s agenda more
than the president’s agenda, got to wondering how much of this source text was being
edited by Bannon. He made several attempts to comb through his father-in-law’s words on
his own before expressing frustration with the task and giving up.

Mick Mulvaney, the former South Carolina congressman now head of the Office of
Management and Budget and directly charged with creating the Trump budget that would
underlie the White House program, also fell back on the Trump spoken record. Bob
Woodward’s 1994 book, The Agenda, is a blow-by-blow account of the first eighteen
months of the Clinton White House, most of it focused on creating the Clinton budget,
with the single largest block of the president’s time devoted to deep contemplation and
arguments about how to allocate resources. In Trump’s case, this sort of close and
continuous engagement was inconceivable; budgeting was simply too small-bore for him.

“The first couple of times when I went to the White House, someone had to say, This is
Mick Mulvaney, he’s the budget director,” said Mulvaney. And in Mulvaney’s telling
Trump was too scattershot to ever be of much help, tending to interrupt planning with
random questions that seem to have come from someone’s recent lobbying or by some
burst of free association. If Trump cared about something, he usually already had a fixed
view based on limited information. If he didn’t care, he had no view and no information.
Hence, the Trump budget team was also largely forced to return to Trump’s speeches
when searching for the general policy themes they could then fasten into a budget
program.

OOK Ok

Walsh, sitting within sight of the Oval Office, was located at something like the ground
zero of the information flow between the president and his staff. As Trump’s primary
scheduler, her job was to ration the president’s time and organize the flow of information
to him around the priorities that the White House had set. In this, Walsh became the
effective middle person among the three men working hardest to maneuver the president
—Bannon, Kushner, and Priebus.

Each man saw the president as something of a blank page—or a scrambled one. And
each, Walsh came to appreciate with increasing incredulity, had a radically different idea
of how to fill or remake that page. Bannon was the alt-right militant. Kushner was the
New York Democrat. And Priebus was the establishment Republican. “Steve wants to
force a million people out of the country and repeal the nation’s health law and lay on a

HOUSE_OVERSIGHT_019972
"
IMAGES-008-HOUSE_OVERSIGHT_025181.txt,"in nature need to be envvyrpted so that the enemy cannot read. this includes inner signals that if you
are aware of , can give you up to your predator. so signals from the nose , my conjecture is that each
person has its own enxruption de encyption algorithm builtin. fyi having dinnner with Jin Watson.

On Fri, Jan 20, 2017 at 1:28 AM, David Grosof ~~ wrote:

At 10:13 PM 01/19/17, you wrote:

all good.A A thx.A A areas of interest,A A A A distribuitionsA innature.. AAAA 2
deception.A 3.A sleep.4.A power. 5 money.A 6 music and the brain. 7 , signal intellignece in the
biologocal systems

Excellent alignment with some of my interests or those of people I like and think are smart!
The rest of the truncated message has been sent.

1. What's been stimulating as a source of good questions for the ""distributions in nature"" issue?

7. ""Signal intelligence in biol. systems"" seems to cover all of neurophysiology: Jonathan Victor, whom
you met a few years ago in your office, is powerfully thoughtful on the issues of neural coding. Are
there specific examples that have stimulated you to better questions or turned your thinking around?

6. Are you aware of apps that purport to play music to enhance productivity and focus on tasks at
hand? My buddy Reese Jones has backed that; he has a fascinating set of beliefs and projects around
what may soon be understood as ""consciousness hacking."" He's on the board of Singularity University
as one of the founders. (His father was a pioneer UCSF MD researcher of hallucinogens, I believe!)

More to come in a day or so.

Thanks!

You're up late or you're not so east of my SF location!
David

PS How to trade the Trump-GOP demolition of the welfare state, erratic elevation of risks of trade
disruptions and war? Has anyone from the rational center or left given thought to how to respond to a
national emergency to cope with a kakistocratic seizure of emergency powers? The Patriot Act was on
a ‘shelf’ as you know, ready to be used. What should the better folks in this country have at hand if,
say, a port is subject to a radiological attack of unknown origin?

On Fri, Jan 20, 2017 at 1:07 AM, David Goof (iii wrote:

Dear Jeffrey,

A Congratulations on another spin around the sun.

A I would like to offer you a birthday present: my best efforts for a few hours on something where I
might be able to contribute either to making something good happen for you or help you prevent the
bad.

We haven't talked much at all for quite some time, so I'm not sure of the nature of your current
interests but here are some of mine, where I feel I either have some special capability or can get access
to those who have such.

* open science -- open access publishing, data publishing, and open culture institutions considered as a
network with largely consistent and mutually reinforcing values: Public Library of Science (PLoS),
Wikipedia, Internet Archive, Electronic Frontier Foundation, and Creative Commons, along with allied
US, UK, European governmental and NGO funding sources and other institutions.

HOUSE_OVERSIGHT_025181
"
IMAGES-011-HOUSE_OVERSIGHT_031007.txt,"10. Is Epstein cooperating with federal suit against Bear Stearns hedge fund managers Ralph Cioffi
and Matthew Tannin? Will he testify in their cases?

11. Mr Epstein was deposed on this week, on Thursday. Is it true that he answered almost every
question by invoking his Fifth Amendment rights?

12. Defense attorney Brad Evans has filed a motion to freeze Mr Epstein’s assets. Has Mr.
Epstein moved his money from the US offshore or abroad, or does he intend to, in order to
protect his assets from possible damage claims?

13. What did Mr. Epstein do during his work release program while serving time. Reports have
said he engaged in “scientific research.” If so, what was he researching?

14. Has Mr. Epstein returned to pursuing his investment business? Is Mr Epstein still on
probation?

15. Is Mr. Epstein permitted to leave Florida or the United States? Do authorities hold his
passport?

You can reach me via e-mail or at I or HE. We close our column at 3
pm on Friday but can add comments as late as 3 pm on Saturday. Many thanks.

George

This transmission is intended only for the use of the addressee and may contain
information that is confidential, privileged and/or exempt from disclosure under
applicable law. If you are not the intended recipient, you are hereby notified that any
dissemination, distribution or copying of the information contained herein is strictly
unauthorized and prohibited. If you have received this communication in error, please
notify the sender immediately and delete this message. Thank you.

BS DIS 24S IS DIS BIC DIS BIS DIR 2S IC DIS IC 24S BIS DIS 5S 2k DIS IC 24S BIC DIS 2S 2k DIS IC 24S BIS DIR 2S 2k DIS iC DIC BIC 2IC SIS DiC DIC 2g OIC IC DIS 5IC DI DIS 2k 24K iS 2IC IC 2k DIS 2k 2IC ok 2k ic

The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of

Jeffrey Epstein

Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments.

HOUSE_OVERSIGHT_031007
"
IMAGES-003-HOUSE_OVERSIGHT_015907.txt,"Turing’s Machine 217

The Perfect Code

The proof that a one-time pad is perfectly secret is straightforward.
Imagine I take a coin and flip it 1000 times. PI write down some of the
results as follows:

HHTHHHTTHTTTHTTTTTHTH...

I give you a copy of my results and keep one for myself. Now we
each have the same random set of Heads and Tails recorded on a piece
of paper. I can convert any message from letters to binary numbers: ‘a
= 00000001, ‘b’ = 00000010, ‘’ = 00000011 and so on. If you are not
familiar with binary just assume I have a code where we only ever use
combinations of 0s or 1s. To encrypt the message we flip each bit — 0 goes
to 1 or 1 goes to 0 — using my random list of heads and tails according
to the following rule: If I have a head flip the bit, otherwise leave it the
same. I now have a randomized message, and it really is truly random. To
convince yourself, imagine answering the question, do you like coffee or
tea? Think of your answer and flip a coin. If the coin lands heads change
your answer otherwise leave it the same. Now write your answer down.
Try it out a few times. Do you see you end up with a totally random set
of decisions — tea, coffee, coffee, tea, tea, tea. If you don't record the coin
toss there is no way to determine your true answer.

Similarly, the message I encoded above now looks like a completely
random stream of 1s and 0s and the only person who can decode it is the
party with the other record of the coin tosses. Apply this to the message
and, as if by magic, the message reappears. Any other random sequence
will yield gibberish. It has to be the SAME random sequence I used in
the first place.

Mathematically, the proof involves working out that the probability
of getting the right answer by applying a random sequence is 1 in 2"" and
the probability I could guess the answer is also 1 in 2""? The same! So the
chance of decrypting the message knowing the encryption method is the
same as simply guessing the message and getting lucky. Therefore, the
message is perfectly encrypted.

Quantum Cryptography

It turns out there is one other perfect encryption method that involves
thinking about the nature of secrets. Normally we consider the primary
problem with sending a secret message is coding it so that it can’t be read

HOUSE_OVERSIGHT_015907
"
IMAGES-011-HOUSE_OVERSIGHT_031761.txt,"behind their hands at the Republican candidate for the U.S.
presidency. The organization even recorded a satirical song
suggesting that the candidate’ s core constituents were
mentally ill. The singer trilled: “He’ s a festering pustule on
Satan’ srump! Don’ t you be a chump for Trump!”

But when Hillary conceded defeat, the tune changed.
Suddenly, Trump was not, as had been previously thought, a
maniac poised to legalize heroin and govern on behalf of Wall
Street, but America’ s best chance to defeat the British Empire
and forge a new alliance with Russia.

It has been said that LaRouche’ s wife, Helga, “keeps him
on a tight leash.” She is a German political activist, and founder
of the LaRouche movement's Schiller Institute, an international
political and economic think tank, one of the primary
organizations, with headquarters in Germany and _ the United
States, and supporters in Australia, Canada, Denmark, Russia,

and South America, among others.

HOUSE_OVERSIGHT_031761
"
IMAGES-001-HOUSE_OVERSIGHT_012127.txt,"Edwards adv. Epstein
Telephone interview with Virginia Roberts
Page 21 of 23

law and that there is people that still believe in it. So that’s it. Thank you guys for
listening to me, hearing me out and helping me. It’s kind of hard to get through.

JS: | Thank you very much. Yes, I’m sure it has been very difficult and I am very appreciative
of the courage you have shown in doing what you have done, which really brings me to
the last subject, and that is what was it that motivated you to go public with all of this?

V: Sharon Richard contacted me. I like her, I do, I like her a lot. I know she’s a journalist,
and journalists are normally bloodsucking leeches, but I like her for that, but she is an
honest bloodsucking leech. She told me a lot about what was still going on, and she
showed me a picture of Jeffrey with a little girl who looks like she could have been 12
years old. I mean it was disgusting. I agreed to talk with her, I never agreed to do
anything until she showed me some pictures, and at that stage, being a mother of 3
children and having a daughter who I would do anything for to protect, I would put my
neck on the line to make sure she never has to go through what I had to go through, and
knowing all of this, and knowing that he’s still out there doing the same exact thing with
no regrets, no remorse, no worry about what he’s doing to those girls, and all those girls
feeling the same way that I did, so I, you know, I’m doing it because I believe in my heart
of hearts it’s the right thing to do. It’s what I would want somebody to do for my
daughter or my sister or my friend, and it saddens me to know that it’s still going on right
now. It’s like the seashell story. I don’t know if you’re heard the story about the little kid
who throws back a starfish, you know, the little brother tries to ask his sister, “why do
you throw them in, they’re all gonna die anyways, the little girl says “well, it’s this one
that I can help, and this one that I can help,” and that’s what I feel like I’m doing. I’m
making a small dent in this big world we live in.

JS: I certainly appreciate that courage, and I have heard that story, and you’re absolutely
right, that one person may not be able to make a difference for everyone, but one person
can make a difference for someone, and hopefully, you are making a difference for
someone, and we’re gonna do the best we can to make sure you are making a difference
for as many people as possible.

Vv: Thanks Jack.

JS: Just a few other follow up things I want to ask you and again, if any of these questions
are questions that you’re uncomfortable in responding to, then don’t hesitate to tell me
that. Do you have any recollection of Jeffrey Epstein’s specifically telling you that “Bill
Clinton owes me favors”?

Vv: Yes. I do. It was a laugh though. He would laugh it off. You know, I remember asking
Jeffrey what’s Bill Clinton doing here kind of thing, and he laughed it off and said well

he owes me a favor. He never told me what favors they were. I never knew. I didn’t
know if he was serious. It was just a joke.

JS: Where was here?

HOUSE_OVERSIGHT_012127
"
IMAGES-007-HOUSE_OVERSIGHT_022873.txt,"a figure of some probity and some intelligence to being
a figure of much less intelligence and much less
probity...”

“Well,” says Pierce in some dramatic
understatement, “you are going to have some low
quality characters playing early in the space...”

That evening, there’s a small cocktail party, which
includes the former Prime Minister of Australian, Kevin
Rudd, and Thorbjorn Jagland, the head of the Nobel
Peace Prize Committee, who offers an affable, but
generally scathing, critique of U.S. diplomacy (and a
brief defense of Obama’s Peace Prize award) and to
whom Epstein offers a ride back to Europe on his jet.

The next morning, it’s Ehud Barack, the former
Israeli Prime Minister, for breakfast. Barack is, over his
omelet, able to defend both Obama and Putin. Then a
high ranking official from the Obama White House
(whose name I am asked not to use).

There follows the former head of the UN Security
Council, Hardeep Purie, and then head of the central
bank of Kazakhstan, Kairat Kelimbetov.

Then Nathan Myhrvold the former chief technology
office at Microsoft. Then Martin Nowak, a Professor of
Biology and Mathematics and Director of the Program
for Evolutionary Dynamics at Harvard, the institute that
Epstein has funded with $30 million. Part of Nowak’s
research has to do with trying to “describe cancer
mathematically.” (Epstein preempts Nowak’s
explanation : “Think of cancer the same way as you

HOUSE_OVERSIGHT_022873
"
IMAGES-006-HOUSE_OVERSIGHT_021933.txt,"Oo O DN OO FF WwW NY =|

NO RO PO PNP NM NO | S| S| HS SF S| S| S| S| S|
non BP WO NO -|- ODO OO WDN OO OT BP WO NYO —

110

the court that you had been asking the government for
consent since, I believe it was the Summer of 2014; is
that consistent with your recollection?

A. The exact timing, you know, if I looked at
the documents, we could refresh my recollection. We put
those documents into the court record in January 21st,
2015, the correspondence that we had had. The U.S.
Attorney's Office had delayed, you Know, giving us an
answer on that for as I recall, several months and
ultimately they said, no, and that's why we filed the
pleading.

Q. Okay. My question is: Why, during that
several-month period before you filed the motion itself,
did you not contact Professor Dershowitz to ask him if
this was true, and if he had any evidence to refute it?
Why not contact the person you're accusing?

A. I mean, there's a cost -- you know, again,
this is going take a little bit of an answer, not as
long as the other one.

Q. I won't cut you off.

A. No, you have been very polite. I appreciate
that. This is about a five-minute answer, just so you
got a heads-up.

Okay. So the issue of why didn't I contact

Mr. Dershowitz, it's a cost benefit situation. So what

ROUGH DRAFT ONLY

HOUSE_OVERSIGHT_021933

"
IMAGES-010-HOUSE_OVERSIGHT_028679.txt,"February 13, 2013 -- If you want to know
what an American president's foreign
policy is likely to be, particularly in a
second term, don't listen to his State of the
Union speech. You'd probably have more
luck playing with Tarot cards, or reading
tea leaves or goat entrails. But not this year.
Barack Obama's fourth such address left a
trail of foreign-policy cookie crumbs that
lead directly to some pretty clear, if hardly
surprising or revolutionary, conclusions.
His first term contained no spectacular
successes (save killing Osama bin Laden),
but no spectacular failures either. And
more than likely, that's what the president
will settle for in a second, even as the Arab
world burns and rogues like Iran and North
Korea brandish new weapons. He's nothing
if not a cautious man.

Behold: I am the Extricator in Chief

Afghanistan -- the ""good war"" -- has been
pretty much MIA in Obama's speeches
since he became president. He's alternated
between spending a few words on the
mission there (2009) or a paragraph (2010,
2011, 2012). If his words have been brief,
the message has been stunningly clear: It's
about the leaving. And tonight was no
exception. Not more than two minutes in,
the president spoke about America's men
and women coming home from
Afghanistan.

HOUSE_OVERSIGHT_028679
"
IMAGES-010-HOUSE_OVERSIGHT_030036.txt,"?

between Sunnis and Alawites in Syria would profoundly disturb the
whole region, creating a nightmare scenario for Washington and
other Western capitals.

Meanwhile, Washington seems at a loss as to how to respond to the
growing unrest in Syria. In tempered language, the administration has
condemned the use of violence against civilians and encouraged
political reform. But the undertones are evident: Stability in Syria
may still preferable to yet another experiment in Arab governance.
Assad will need to act quickly and decisively -- and one hopes not
harshly -- to quell the rising current of dissent. Indeed, Secretary of
State Hillary Clinton seemed to offer the regime some modest support
this weekend, noting that she believed Bashar to be a ""reformer."" But
reform has never been a primary goal of the Assad clan, which has
long favored stability over change.

This edifice may now be crumbling, and the United States would be
wise to spend a little less time thinking about Libya and a little more
time thinking about a state that truly has implications on U.S.
national interests. If things go south in Syria, blood-thirsty sectarian
demons risk being unleashed, and the entire region could be
consumed in an orgy of violence.

Patrick Seale is a British writer who specializes in Middle East

affairs. His latest book is The Struggle for Arab Independence: Riad
el-Solh and the Makers of the Modern Middle East.

HOUSE_OVERSIGHT_030036
"
IMAGES-011-HOUSE_OVERSIGHT_032268.txt,"From: Heather Mann

Sent: 6/28/2016 6:38:55 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Re: Oh boy!

Importance: — High

Trump or Hilary?

Sent from my iPhone

On 28 Jun 2016, at 19:00, jeffrey E. <jeevacation@gmail.com> wrote:

uncertainty ahead. thats all anyone can responsbliy say

On Tue, Jun 28, 2016 at 1:51 PM, Heather Mann 10%:

So the last few days have been very interesting over here - what do you think!? Xx

Sent from my iPhone

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

HOUSE_OVERSIGHT_032268
"
IMAGES-002-HOUSE_OVERSIGHT_013081.txt,"9.3. Embodied Communication 165

The NKC assumption seems commonsensically to hold true for human everyday knowledge,
and it has fairly dramatic implications for general intelligence. Suppose we conceive general
intelligence as the ability to achieve goals in the environment shared by the communicating
agents underlying the Embodied Communication Prior. Then, NKC suggests that the best way
to achieve general intelligence according to the Embodied Communication Prior is going to
involve

® specialized methods for handling declarative, procedural, sensory and attentional knowledge
(due to the naturalness of the isolated knowledge categories)

e specialized methods for handling interactions between different types of knowledge, includ-
ing methods focused on the case where one type of knowledge is primary and the others are
supporting (the latter due to the naturalness of the interactive knowledge categories)

9.3.0.2 Cognitive Completeness

Suppose we conceive an AI system as consisting of a set of learning capabilities, each one
characterized by three features:

e One or more knowledge types that it is competent to deal with, in the sense of the two
key learning problems mentioned above

e At least one learning type: either analysis, or synthesis, or both

e At least one interaction type, for each (knowledge type, learning type) pair it handles:
“isolated” (meaning it deals mainly with that knowledge type in isolation), or “interactive”
(meaning it focuses on that knowledge type but in a way that explicitly incorporates other
knowledge types into its process), or “fully mixed” (meaning that when it deals with the
knowledge type in question, no particular knowledge type tends to dominate the learning
process).

Then, intuitively, it seems to follow from the ECP with NKC that systems with high efficient
general intelligence should have the following properties, which collectively we'll call cognitive
completeness:

e For each (knowledge type, learning type, interaction type) triple, there should be a learning
capability corresponding to that triple.

e Furthermore the capabilities corresponding to different (knowledge type, interaction type)
pairs should have distinct characteristics (since according to the NKC the isolated knowledge
corresponding to a knowledge type is a natural category, as is the dominant knowledge
corresponding to a knowledge type)

e For each (knowledge type, learning type) pair (K,L), and each other knowledge type K1
distinct from K, there should be a distinctive capability with interaction type “interactive”
and dealing with knowledge that is interactively K but also includes aspects of K1

Furthermore, it seems intuitively sensible that according to the ECP with NKC, if the ca-
pabilities mentioned in the above points are reasonably able, then the system possessing the
capabilities will display general intelligence relative to the ECP. Thus we arrive at the hypothesis
that

HOUSE_OVERSIGHT_013081
"
IMAGES-001-HOUSE_OVERSIGHT_010730.txt,"Honorable Mark Filip
May 19, 2008
Page 8

prosecution is fair and appropriate has been placed, once again, in U.S. Attorney Acosta’s
hands.

In light of the foregoing, we respectfully ask that you review this matter and discontinue
all federal involvement so that the State can appropriately bring this matter to closure. We
would greatly appreciate the opportunity to meet with you to discuss these important issues.
Such a meeting would provide the Department with an opportunity to review the paramount
issues of federalism and the appearance of selectivity that are generated by the unprecedented
attempts to broaden the ambit of federal statutes to places that they have never before reached.
We sincerely appreciate your attention to this matter.

Respectfully submitted,
Kenneth W. Starr Joe D. Whitley
Kirkland & Ellis LLP Alston & Bird LLP

HOUSE_OVERSIGHT_010730
"
IMAGES-010-HOUSE_OVERSIGHT_029567.txt,"Director, Poetry in America
Harvard University

148 Barker Center

12 Quincy Street

Cambridge, MA
02138

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com, and
destroy this communication and all copies thereof,
including all attachments. copyright -all rights reserved

Elisa New

Powell M. Cabot Professor of American Literature
Director, Poetry in America

Harvard University

148 Barker Center

12 Quincy Street

Cambridge, MA

02138

please note
The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by

return e-mail or by e-mail to jeevacation@gmail.com, and

HOUSE_OVERSIGHT_029567
"
IMAGES-009-HOUSE_OVERSIGHT_026957.txt,"Investment Gold man

Management a

Iranian Oil Production Has Plummeted Division

Iranian Oil Production and Exports (Million Barrels/Day)

a 4 —Preduction — — Exports (3-Month Moving Average)

4.5 - Jan-12 May-18
EU agrees to ban US Withdraws

4.0 - Iranian oil imports 38 en JCPOA

Nov-18
US sanctions—»
go into effect

Jul-15
JCPOA Signed

39-Jul-12 —7

s Ban imposed 2.6

= 55 _ by US andallies wr» F ‘ 2.6
2 “* | goes into effect an Comme

= 20 - :

=
oi
1
=

=
oO
L
-
oy
-

| Latest:
0.5 “md

0.0 T T T T T T T T
2011 2012 2013 2014 2015 2016 2017 2018 2019

= Since the US withdrew from the JCPOA in May 2018:
— Iranian oil production has fallen by 1.2 million b/d

— Exports have fallen from 2.6 million b/d to 0.5 million b/d month-to-date in May (0.9 million b/d on a 3-month
moving average)

= Tran will continue to send a few hundred thousand b/d of oil exports despite harsh US secondary sanctions.

13
HOUSE_OVERSIGHT_026957

Source: Investment Strategy Group, Bloomberg, cFlow Data (Platts Global Crude).
"
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